REG-Mondi PLC: Further re proposed disposal of Mondi Syktyvkar

MondiAnnouncement

05/06/2023 09:15

Mondi plc

(Incorporated in England and Wales)

(Registered number: 6209386)

LEI: 213800LOZA69QFDC9N34

JSE share code: MNP ISIN: GB00B1CRLC47

LSE share code: MNDI

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

FOR IMMEDIATE RELEASE.

5 June 2023

Update on the proposed disposal of Mondi Syktyvkar

Mondi plc (“Mondi” or the “Group”) today confirms that it has advised
Augment Investments Limited (“Augment”) that it is withdrawing from the
agreement to sell Mondi’s most significant facility in Russia, Joint Stock
Company Mondi Syktyvkar, together with two affiliated entities
(“Syktyvkar”), to Augment. This follows recent discussions with Augment on
its lack of progress in gaining the necessary approvals to complete this
transaction.

As per the terms of the Sale and Purchase Agreement, the Disposal to Augment
will therefore be terminated and will not complete.

The Board remains committed to divest Syktyvkar and will continue to assess
all alternative divestment options.

The proposed disposal of the Group’s three Russian packaging converting
operations to Gotek Group, as announced on 15 December 2022, is not connected
with the proposed disposal of Syktyvkar. This transaction remains in progress.

Enquiries

Investors/analysts:

Fiona Lawrence
                                
                                    +44
 7425878683

Mondi Group Head of Investor Relations

Media:

Kerry Cooper                         
           
                                    +44 788
145 5806

Mondi Group Communication Director

Richard Mountain (FTI
Consulting)                                       
+44 790 968 4466

Rothschild & Co (Financial Adviser to Mondi):

John
Deans                                                                            
+44 207 280 5000

Neil Thwaites

Important Notice

This announcement is for information purposes only and does not constitute a
prospectus or prospectus equivalent document. Nothing in this announcement
shall constitute an offer or invitation to underwrite, buy, subscribe, sell or
issue of the solicitation of an offer to buy, sell, acquire, dispose or
subscribe for shares of any other securities. Nothing in this announcement
should be interpreted as a term or condition of the Disposal.

The information contained in this announcement is for background purposes only
and does not purport to be full or complete. No reliance may be placed for any
purpose on the information contained in this announcement or its accuracy or
completeness. The information in this announcement is subject to change.

N.M. Rothschild & Sons Limited ("Rothschild & Co") is authorised and regulated
in the United Kingdom by the Financial Conduct Authority (the "FCA") and is
acting exclusively for the Group and no one else in connection with the
contents of this document and any other matters referred to in this document
and will not regard any other person (whether or not a recipient of this
document) as a client in relation to any other matters referred to in this
document and will not be responsible to anyone other than the Group for
providing the protections afforded to its clients, or for providing advice, in
relation to the contents of this document or any other matter or arrangement
referred to in this document.

Rothschild & Co does not accept any responsibility whatsoever for the contents
of this document, including its accuracy, completeness or verification, or for
any other statement made or purported to be made by it, or on its behalf, in
connection with the Group and/or any other transaction or arrangement referred
to herein. Rothschild & Co accordingly disclaims, to the fullest extent
permitted by applicable law, all and any duty, liability, or responsibility
whatsoever whether arising in tort, contract or otherwise, which it might
otherwise have in respect of this document or any such statement. No
representation or warranty, express or implied, is made by Rothschild & Co or
any of its affiliates as to the accuracy, completeness, verification or
sufficiency of the information set out in this document, and nothing in this
document will be relied upon as a promise or representation in this respect,
whether or not to the past or future, provided that nothing in this paragraph
shall seek to exclude or limit any responsibilities or liabilities which may
arise under the FSMA or the regulatory regime established thereunder.

Forward-Looking Statements

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, expectations of growth and profitability and plans and
objectives of management for future operations, are forward-looking
statements. Forward-looking statements are sometimes identified by the use of
forward-looking terminology such as “believe”, “expects”, “may”,
“will”, “could”, “should”, “shall”, “risk”, “intends”,
“estimates”, “aims”, “plans”, “predicts”, “continues”,
“assumes”, “positioned” or “anticipates” or the negative thereof,
other variations thereon or comparable terminology. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Mondi, or
industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Such forward-looking statements and other statements contained in
this document regarding matters that are not historical facts involve
predictions and are based on numerous assumptions regarding Mondi’s present
and future business strategies and the environment in which Mondi will operate
in the future. These forward looking statements speak only as of the date on
which they are made.

No assurance can be given that such future results will be achieved; various
factors could cause actual future results, performance or events to differ
materially from those described in these statements. Such factors include in
particular but without any limitation: (1) operating factors, such as
continued success of manufacturing activities and the achievement of
efficiencies therein, continued success of product development plans and
targets, changes in the degree of protection created by Mondi’s patents and
other intellectual property rights and the availability of capital on
acceptable terms; (2) industry conditions, such as strength of product demand,
intensity of competition, prevailing and future global market prices for
Mondi’s products and raw materials and the pricing pressures thereto,
financial condition of the customers, suppliers and the competitors of Mondi
and potential introduction of competing products and technologies by
competitors; and (3) general economic conditions, such as rates of economic
growth in Mondi’s principal geographical markets or fluctuations of exchange
rates and interest rates.

Mondi expressly disclaims a) any warranty or liability as to accuracy or
completeness of the information provided herein; and b) any obligation or
undertaking to review or confirm analysts’ expectations or estimates or to
update any forward-looking statements to reflect any change in Mondi’s
expectations or any events that occur or circumstances that arise after the
date of making any forward-looking statements, unless required to do so by the
Disclosure Guidance and Transparency Rules, the UK Market Abuse Regulation or
applicable law or any regulatory body applicable to Mondi, including the JSE
Limited, the FCA and the LSE.

Any reference to future financial performance included in this announcement
has not been reviewed or reported on by the Group’s auditors.

Editor’s notes

Mondi is a global leader in packaging and paper, contributing to a better
world by making innovative solutions that are sustainable by design. Our
business is integrated across the value chain – from managing forests and
producing pulp, paper and films, to developing and manufacturing sustainable
consumer and industrial packaging solutions using paper where possible,
plastic when useful. Sustainability is at the centre of our strategy, with our
ambitious commitments to 2030 focused on circular driven solutions, created by
empowered people, taking action on climate.

In 2022, Mondi had revenues of €8.9 billion and underlying EBITDA of €1.8
billion from continuing operations, and employed 22,000 people worldwide.
Mondi has a premium listing on the London Stock Exchange (MNDI), where the
Group is a FTSE100 constituent, and also has a secondary listing on the JSE
Limited (MNP).

Sponsor in South Africa: Merrill Lynch South Africa Proprietary Limited t/a
BofA Securities.



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