Tetra Pak cuts emissions in value chain by 25%1 and in its own operations by 54%2

First Quarter Highlights *First quarter 2021 GAAP earnings per diluted share were $0.71, compared with $0.80 in 2020. *First quarter 2021 GAAP earnings included net after-tax charges of $19.4 million related to restructuring activity, asset impairments, acquisition and divestiture transaction costs, loss on a business divestiture and non-operating pension costs which were partially offset by insurance proceeds. In the first quarter of 2020, GAAP earnings included net after-tax charges of $14.8 million related mostly to restructuring actions and non-operating pension costs. *Base net income attributable to Sonoco (base earnings) for first quarter 2021 was $0.90 per diluted share, compared with $0.94 in 2020. (See base earnings definition, explanation and reconciliation to GAAP earnings later in this release.) Sonoco previously provided first quarter 2021 base earnings guidance of $0.80 to $0.90 per diluted share. *First quarter 2021 net sales were $1.35 billion, compared with $1.30 billion in 2020. *Cash flow from operations was $138.7 million in the first three months of 2021, compared to $87.7 million in 2020. Free cash flow was $99.4 million in the first three months of 2021, compared with $57.1 million in the first three months of 2020. *On April 4, 2021, Sonoco completed the sale of its U.S. Display and Packaging business to Hood Container Corporation for approximately $80 million in cash, the proceeds of which were received subsequent to the period's end.

Mondi has agreed to acquire 90.38% of the outstanding shares in Olmuksan International Paper Ambalaj Sanayi ve Ticaret A.Ş from International Paper for a total consideration of €66 million. The implied enterprise value on a 100% basis would amount to around €88 million. Olmuksan is a leading and well-established corrugated packaging player in Turkey, listed on the Istanbul stock exchange. Its network of five plants provides a diverse customer base with high-quality sustainable packaging for food, beverage, agriculture and industrial applications. For the twelve months ended 30 September 2020, the Company produced 256 thousand tonnes of corrugated packaging and generated revenues of TRY1,093 million (€150 million). Mondi has operated successfully in Turkey for many years and has developed a strong understanding of the market and its long-term opportunities. Our current Turkish footprint includes four corrugated packaging plants and a recycled containerboard paper mill, as well as three flexible packaging sites. Leveraging our expertise and experience in this market, together with our global virgin and recycled containerboard portfolio, we expect to generate significant operational improvements and paper integration upside.

Navigator Paper UK Limited is pleased to announce it has launched a public all-cash firm offer to acquire the entire issued and to-be-issued share capital of Accrol Group Holdings plc, a tissue paper converter based in the United Kingdom (UK). The offer is being implemented pursuant to a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act. Accrol is a leading tissue converter and supplier of toilet tissues, kitchen rolls, facial tissues, and wet wipes to many of the UK's leading discounters and grocery retailers across the UK.