First Quarter Highlights and other notable items: *Net sales of $4.6 billion; Corrugated Packaging segment sales increased 3.5% compared to the prior year quarter *Global Paper containerboard shipments increased 21.9% compared to the prior year quarter *Net loss of $22 million; net loss included $66 million of restructuring and other costs *Achieved over $200 million in cost savings; expect to significantly exceed previously announced fiscal 2024 target of $300 to $400 million

We announce our ambitious commitment to align our global operations to a 1.5°C scenario as set out in the Paris Climate Agreement. The roadmap to 1.5°C has been submitted for verification by the Science Based Targets initiative (SBTi)*. To achieve this, we are accelerating the reduction of carbon emissions for our own operations, as well as those of our partners and suppliers, by committing to reducing our Scope 1, 2 and 3 Green House Gas (GHG) emissions by 46% on an absolute basis by 2030, compared to 2019 levels. These targets will keep us, a member of the UN’s Race to Zero initiative, in line with our prior commitment to reach Net Zero** carbon emissions by 2050. "Today’s announcement demonstrates our ambition in reducing carbon as part of our long-term sustainability focus. This commitment not only ensures our business is leading the way in reducing our carbon footprint, but also guarantees we are challenging our suppliers and partners to do the same. Our business has ambitious growth plans over the coming years as we lead the transition to a circular economy and these commitments are a crucial part of our Now and Next sustainability strategy which will see us create a positive impact for people and the planet both now and in the future." — Miles Roberts, Group Chief Executive at DS Smith

With the latest development—Koehler NexPure® OGR—Koehler Paper, a leading provider of papers with a disruptive barrier function for packaging solutions, is adding another sustainable solution to its portfolio for the fast-food market. Consumer demand for sustainable products and packaging has been evident in the fast-food sector for some time now, which is why system catering is also increasingly looking for solutions in this field. Back in October, Koehler launched Koehler NexPure® Wrap, a paper designed for burger packaging with extremely low grammage, onto the fast-food market. Now, with Koehler NexPure® OGR, the company is bringing an oil- and grease-resistant, sustainable paper onto the market, which will be suitable for packaging foods such as fries, sandwiches, wraps, and burritos.