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Key highlights of the 2022 CSR Report include: *EcoVadis Gold Rating: Monadnock received EcoVadis gold rating, placing it in the top eight percent of the 90,000+ companies ranked by EcoV Since earning a silver rating in the 2015 assessment, the company has achieved a 30% improvement in performance level. *Sustainable Resource Management: In 2022, Monadnock enabled its customers to avoid the consumption of 42,400,000 pounds of wood. The company also saw a 58% increase in post-consumer waste (PCW) usage since 2021. *Waste Reduction: Trash to landfill was reduced by 11% over 2021 with an excellent diversion rate of 98.6%. For context, a Zero Waste company is often defined by a minimum 90% diversion rate. *Innovative Collaborations: Monadnock collaborated with a global brand to pioneer a paper-based, 100% post-consumer waste recycled bag closure.

Robert P. Mundy, PCA’s Executive Vice President and Chief Financial Officer, will step down as CFO on May 1, 2025 and remain employed by PCA in an advisory role through his planned retirement date of March 1, 2026. Bob has served as PCA’s CFO since 2015. Kent A. Pflederer, PCA’s General Counsel since he joined PCA in 2007, will become PCA’s Executive Vice President and CFO on May 1, 2025. Thomas A. Hassfurther, PCA’s Executive Vice President, Corrugated Products has been named President of PCA. Tom will continue to report to Mark W. Kowlzan, Chairman and CEO, and will oversee PCA’s strategic growth efforts in addition to leading the corrugated products business. Tom has led PCA’s corrugated products business since 2009 and joined PCA in 1977. D. Ray Shirley, PCA’s Senior Vice President, Corporate Engineering and Process Technology since 2019, has been named Executive Vice President, Corrugated Products. Ray will report to Tom Hassfurther and assume day-to-day management of the corrugated products business. Ray has worked for PCA since 1996 in various business and operational roles across PCA’s containerboard and corrugated products system. Ray will continue to oversee all aspects of PCA’s engineering and technology organization. Commenting on these changes, Mr. Kowlzan said: “Bob has been instrumental to PCA’s growth and success over the last ten years. As a 45-year industry veteran, he brought considerable operational and strategic expertise to complement his leadership of our finance function. I am very pleased that he will remain with PCA to assist in the transition of the CFO role to Kent.

Our Clermont Mill, a nearly century-old institution in Quebec’s Charlevoix region, has long been a pillar of the local community. The mill is home to a paper machine that produces 221,000 metric tons of newsprint a year from thermomechanical pulp. Faced with the high energy demands of paper production, the mill rose to the challenge with an innovative energy recovery project. Fully aware of the opportunities to optimize steam consumption, the team at the Clermont Mill partnered with Hydro-Québec to develop an ambitious energy recovery project. Hydro-Québec provided CA$3 million of financial assistance to help the mill reduce its steam consumption by capturing and reusing waste heat. The project involved installing heat exchangers and two water-to-water heat pumps, directly integrated into the paper production process — a first for Quebec’s pulp and paper industry. The initiative has yielded significant results, including an annual savings of CA$800,000 and a 15-million-kWh reduction in energy consumption. To better illustrate the impact, the energy saved could power 880 houses, a statistic that highlights the project’s economic and environmental benefits.