Slide 1: A leader in sustainable packaging and paper solutions
A leader in sustainable packaging and paper solutions Results for the six months ended 30 June 2026 Thursday 30 July 2026 1
Slide 2: 2026 Half Year Results
2026 Half Year Results €379m Underlying EBITDA (H1 2025: €564m) 11.6 euro cents (H1 2025: 42.7euro cents) Basic underlying earnings per share €347m (H1 2025: €416m) Cash generated from operations incl. €35m forestry fair value loss (H1 2025: €18m gain) • H1 performance reflected margin pressure from
Slide 3: Finance review
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Slide 4: H1 2026 vs H1 2025 performance
H1 2026 vs H1 2025 performance Underlying EBITDA development € million 31 (55) 564 (66) (53) (42) 379 H1 2025 Sales Sales Input costs Forestry FX and other H1 2026 volumes and prices fair value mix 4
Slide 5: Stable net debt supported by our actions
Stable net debt supported by our actions € million H1 2026 H1 2025 • Strong focus on working capital Underlying EBITDA 379 564 management Non-cash forestry fair value loss / (gain) 35 (18) Working capital (94) (130) • Capex guidance reduced to Tax and net interest paid (104) (85) €500 million for FY
Slide 6: Investment grade credit rating, strong liquidity and no financial covenants
Investment grade credit rating, strong liquidity and no financial covenants Refinanced Investment grade Strong liquidity debt maturities credit rating No further debt Undrawn RCF of €1,000 million S&P: BBB (stable outlook) maturities until 2028 & cash of €154 million Moody’s: Baa1 (negative outlook)
Slide 7: Special items
Special items Special item pre-tax charges of €320 million recognised in H1 2026 • €296 million non-cash impairment charges • €24 million cash restructuring and closure costs Impairment charges comprise: • €206 million Duino recycled containerboard mill (Italy) • €39 million Neusiedler uncoated fine
Slide 8: 2026 Technical guidance
2026 Technical guidance Updated Previous Guidance Guidance Depreciation and amortisation ~ €475 million €515 – 525 million Net finance costs ~ €125 million ~ €125 million Effective tax rate ~ 25% ~ 25% Underlying EBITDA impact from planned maintenance shuts ~ €80 million ~ €100 million 1 Capital exp
Slide 9: Business unit review
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Slide 10: Corrugated Packaging
Corrugated Packaging Higher containerboard volumes support performance amid margin pressure Underlying EBITDA • Volume growth supported by recent capacity investments € million • +12% containerboard 18 • +2% box volume (like-for-like) • UFP broadly stable volumes, gaining market share in 21 declinin
Slide 11: Flexible Packaging
Flexible Packaging Resilient converting performance mitigates lower kraft paper margin Underlying EBITDA • Kraft paper and paper bag volume growth € million • +8% kraft paper • +3% paper bags • Managing higher energy, wood, logistics and resin costs • Lower average paper selling prices 302 281 251 •
Slide 12: ProVantage
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Slide 13: Strengthening performance, cash generation and competitiveness
Strengthening performance, cash generation and competitiveness Optimising the converting plant network Capital discipline Driving operational excellence to the next level Delivering for our customers 13
Slide 14: Optimising the converting plant network
Optimising the converting plant network Concentrating volumes in fewer, more efficient plants to improve service, utilisation and returns Six converting plant closures announced: • Two closures complete (Hungary and Germany paper bag plants) • Four closures progressing to plan for completion by year
Slide 15: Capital discipline
Capital discipline Well-invested asset base • Major capacity expansion projects complete Capital expenditure € million • FY2026 capital expenditure guidance reduced 1,000 to €500 million (from €550 million) • Investment focus on safety, asset integrity, 750 cost optimisation and highly selected grow
Slide 16: Driving operational excellence to the next level
Driving operational excellence to the next level Strengthening competitiveness and unlocking more value from the existing asset base Accelerating roll-out of new operational excellence programme - Mondi Management System (MMS) - across network • Disciplined systematic way of working • Zero loss prod
Slide 17: Delivering for our customers
Delivering for our customers Customers value a single packaging partner that can combine broad product choice, sustainable innovation, secure supply and reliable execution High performance packaging and paper Growth is supported by customer wins and • Market leader in virgin packaging and paper prod
Slide 18: Mondi: The home of eCommerce packaging
Mondi: The home of eCommerce packaging Well positioned to support our customers across all fibre-based packaging Strength & Protection Packaging Corrugated box Corrugated mailers Paper protective mailers Paper bags Material / Packaging weight Material Corrugated fanfold Open flute Kraft or functiona
Slide 19: A well-invested platform for future growth
A well-invested platform for future growth Mondi is well positioned to deliver long-term value for shareholders Leader in sustainable packaging solutions Exposed to attractive growing end-markets Well invested, cost advantaged and integrated asset base Disciplined capital allocation and robust balan
Slide 20: Outlook
Outlook "Trading momentum improved through the first half and we enter the second half with higher packaging paper prices, supported by good order books. We expect higher wood costs across Central and Eastern Europe and we continue to manage volatile energy related input costs.” 20
Slide 21: Questions
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Slide 22: Mondi: Forward-looking statements disclaimer
Mondi: Forward-looking statements disclaimer This document includes forward-looking statements. All statements other than statements of historical facts included herein, including, without limitation, those regarding Mondi’s financial position, business strategy, market growth and developments, expe