CONSTANTIAFLEXIBLES

COMPANY PRESENTATION

FEBRUARY 2019

VIENNA, AUSTRIA

4

Agenda

Company Intro

Globalproduction

network

Innovation

Companygrowth

Focus 21

Sustainability, CSR &

Constantia Flexibles

2

5

6

1

2

3

CONSTANTIAFLEXIBLES IN ANUTSHELL

3

Based on the guiding

principle of 'People,

Passion, Packaging',

we manufacture

tailor-made flexible

packaging solutions.

#3Globally

#2in Europe

#3

#2

2 BUSINESSSEGMENTS

Consumers

~75%

Pharma

~25%

SALES BYREGION

Europe 65%

America 16%

MiddleEast/Africa 7%

Asia /Pacific 12%

&16.6%stake in

MCC

~ 8,300employees

38Production sites in

16 countries

HEADQUARTERS

in Austria, Vienna

SHAREHOLDERS

Wendel Group

~61%

AREPO Foundation

~27%

MaxburgCapital Partners

~11%

PRODUCTION

aluminum-based

52%

film-based

46%

paper-based

2%

We envision a world in whichpackaging

provides people with the highestbenefit

at the lowest impact on the environment.

4

• Shape

• Portion size

• Essential information

Presentation

• Promotional text

• Customer convenience

• Functionality

Promotion

THE 4 PS OF PACKAGING

at the heart of our business

• Puncture resistance

• Burst strength

• Tamper evidence

Protection

5

• Ensures required shelf life

• Barrier functions against

UV light, moisture, oxygen,

and seal integrity

• Hygiene standards

Preservation

6

LONG-TERM PARTNERSHIPS WITHCUSTOMERS

Consumer Pharma

2

We manufacture globally.Constantia Flexibles is a global manufacturer

of flexible packaging solutions for consumer

and pharma products.

Global productionnetwork

8

GLOBAL PRODUCTION NETWORK

16 countries

38 plants

Consumers Pharma

9

CONSUMER DIVISION PLANTS

30 plants

Film

Foil

Film / Foil

Other

10

INTEGRATED PRODUCTION

Raw material Step 2 Step 3 Step 4 Step 5 Step 6

Film (PET/PP/PE/PA)

Paper

Aluminium foil

Resin (PP/PE)

Rolling

Blow filmextrusion

Cast extrusion

Lacquering

Laminating

Extrusion coating

Prepress

Cylinder

Flexo plates/ Sleeves

Printing process

Printing inks

Laminating Slitting process

& Finishing

(die-cutting,deepdrawing,

bag & pouch making,

embossing, laser scribing)

Finished products

(reels or pieces)

Step 1

11

PHARMA DIVISION PLANTS

Hub Plants

Satellite Plants

CONSTANTIA

Oai Hung Vietnam

CONSTANTIAPatz Austria

CONSTANTIATobepalSpain

CONSTANTIASan ProsperoItaly

CONSTANTIAFrommGermany

CONSTANTIALouvain Belgium

CONSTANTIASittingbourneUK

12

PHARMA SATELLITE CONCEPT: GLOBAL SCALE WITH LOCAL FLEXIBILITY

Incoming Goods

Foil, Film, Paper

Printing Gravure / Flexo

Artwork is received & toolingis

produced. Printing with either

flexo sleeves, flexo cliches or

gravure cylinders occurs.

Printed Reel Slitting

Large reels are slit

down to thecustomers

finished width.

Final Packaging

The smaller reels arepacked

according to the customers

requirements.

Shipping

Despatch occurs after quality

release after 10-15 days of

receipt of order.

Lacquering

Lamination

Master reel

Slitting

SATELLITE

Satellites are located near to

customers, specialize in

small- to medium-sized

volume orders and generate

major market shares in local

and/or surrounding countries.

HUB

Integrated corporate wide Quality

Management System - ISO9001 based

Advanced certifications according to international standards,

our plants meet all the demands facing a global company

Consistent traceability in our whole supply chain, from raw

materials to each single packaging unit

Raw materials are sourced fromcompeted

and reliable suppliers

Full compliance to legal and customerrequirements

Competent quality control labs at oursites

13

SUPERIOR QUALITY, CONTINUOUS IMPROVEMENT

AND PRODUCT SAFETY

14

HEALTH,SAFETY, SECURITY& ENVIRONMENT (HSSE)

The Lost Time Injury Frequency Rate (LTIFR)

improved within Constantia Flexibles Group

worldwide by more than 25% within the last

three years.

LTIFR REDUCED BY MORE THAN 25 %

It’s our duty to create and maintain a

safe & sustainable work environment.

HSSE is an integrated part of the

company’s business and decision-

making process and drives forward

Operational Excellence.

ealth

afety

ecurity

nvironment

WE PROTECT ALL ASSETS, ESPECIALLY

H

S

S

E

Personnel

Contractors

Neighbors

Machinery

Equipment

Our reputation

Environment

ZERO LOSS – NO HARM

Accidents affect your loved ones too.

Innovation3

We invest in innovation.Innovation is at the core of our DNA.

We strongly believe that only those who rethink packaging every day will succeed together with customers and ultimately with consumers alike.

16

FOCUS ONGROUP-WIDE INNOVATION THEMES

OVERARCHING

PACKAGING TRENDS

SustainablePackaging

Product Safety

InteractivePackaging

KEY FUNCTIONALITIES UNDERLYING

TECHNOLOGIES

High-End Graphics

Easy Open / Reclose

Pouches & Bags Digital Printing

Performance Packaging

Value

Engineering

17

R&D FACILITIESAND GOALS FOR MORE SUSTAINABLE PACKAGING DEVELOPMENT

• Analytics

• Lacquer formulation

• Prototype films andlaminates

• Packaging trials

Polymer Films andFilm Laminates

Germany

• Analytics

• Lacquer formulation

• Extrusion Coating

• Compounddevelopment

Aluminum Foil andFoil Laminates

Austria

Recycle-ready packaging

at same performance

Food law compliance

Avoidance/reduction ofvolatile & migratingsubstances

Thinner packaging

at same performance

18

GLOBAL R&DNETWORK

We act as global company for our

global customers!

• Driver of Push Innovations based

on cooperation with suppliers and

other external partners

• Supporting market and customer-

driven innovations

• Improve efficiency in raw materials

usage and production

• In- and external technical

consultant

• Global knowledge transfer and

standardization of raw materials

Parikh

PatzTeich

Pirk

Tobepal

Companygrowth4

We aregrowing strongly.Our ambition for growth, together with our

customers, is what keeps us going the extra

mile every day. Both, growing organically as

well as through strategic acquisitions is what

we aim for short to long term.

20

STRONG TRACK RECORD OF GROWTH

via acquisitions as well as organic growth

799 863994 1.059

1.237 1.300 1.3041.429

941

502

1803104

1055

426

0

200

400

600

800

1.000

1.200

1.400

1.600

2010 2011 2012 2013 2014 2015 2016 2017

€M

LONG-TERM SALES AND SALES GROWTH (EXCL. LABELS SALES)

Add-on acquisitions(since 2010)

+9.1%2010-2017

CAGR in %,

with acquisitions

799

9571,044

1,239 1,247 1,3001,409

1,471

1 Including ASAS Group as of date of 1st consolidation (August 1st 2011) and 8 months Tobepal (acquired September2010)

2 Includes 7 months of ASAS Group

3 Including Aluprint as of date of 1st consolidation (January 1st 2013), and Parikh as of date of 1st consolidation (June 1st 2013)

4 Includes 5 months ofParikh5 Including Afripack Group as of date of 1st consolidation (January 1st 2016), and Oai Hung as of date of 1st consolidation (July 1st 2016)

6 Including Alucap as of date of 1st consolidation (March 1st 2017), San Prospero as of date of 1st consolidation (January 1st 2017), and 6 months Oai Hung

M&ATRACK RECORD: SINCE 2015, €265 MNADDED SALES

Wendel GroupOEP

Acquisition Divesture

Spear(US et al.)

Parikh(India)

Pemara(Australia)

Afripack(South Africa)

Oai Hung(Vietnam)

Alucap(Italy)

Creative Polypack(India)

Labels Division

Folding(Mexico)

2014 20162013 2017 20182015

21

Globalpack(Mexico)

Lamp(Italy)

201220112010

Tobepal(Spain)

Asas(Turkey)

TOTAL FLEXIBLE PACKAGINGMARKET

Size & Growth by Region

GLOBAL FLEX. PACKAGING MARKETCAGR

India

China

Other EmergingMarkets

Mid. East &Africa

NorthAmerica

LatinAmerica

Europe

Oceania

Japan

2%0% 4% 6% 8% 10% 12%

FLEX. PACKAGING DEMAND WORLDWIDE

REACHED C.A. € 72BN

NorthAmerica

Europe

Other EmergingMarkets

China

Japan

India

LatinAmerica

Mid. East &Africa

Oceania

0 5,000 BN € 10,000 BN € 15,000 BN € 20,000 BN€

22

23

FOCUS21 STRATEGY – BASED ONTHREE PILLARS

From a leadingEuropean supplier…

• Network of medium-sized

companies

• Business focus on Europe

• Supplier of packaging materials

with focus on aluminium

… to a global player…

• Establishing a corporate center

• Realizing global growth opportunities

through acquisitions

• Solution provider with comprehensive

aluminum and film competence

… and now a pure playflexible packaging group

• With a focus on selective endmarkets in

attractive regions withour customers

• Profitable growth through

strategy Focus21

FOCUS21strategy5

Based on three pillarsConstantia Flexibles is a

global manufacturer of flexible

packaging solutions for

consumer and pharma products.

Greaterambitions

Acquisitions

Defend andextendleadingpositions

Key levers for

implementation

25

FOCUS21

DEFENDAND EXTEND LEADING POSITIONS

Consumers

Pharma

NORTH AMERICA EUROPE REST OF THE WORLD

Confectionery foil

Processed meat foil

(alu-container systems)

Snacks film (Mexico)

Dairy yoghurt liddingfoil

Dairy yoghurt liddingfilm

Dairy melted cheesefoil

Confectionery foil

Processed meat foil

(alu-container

systems)

Blister lidding foil

Coldform foil

Contact lenses lidding

Blister lidding foil

Coldform foil

Contact lenses lidding

Pharma laminates /specials

HPC sachets specialties

Dairy yoghurt lidding foil

& film (Russia)

Confectionery foil

(Russia & Turkey)

Processed food

(Turkey)

Processed meat foil

26

FOCUS21

DEFENDAND EXTEND LEADING POSITIONS

Consumers

Pharma

NORTH AMERICA EUROPE REST OF THE WORLD

• Dairy yoghurt lidding foil

• Dairy yoghurt lidding film

• Confectionery film

• Processed food coffee foil

• Processed food dry

• Hygiene

• Processed meat foil

• Confectionery film

• Processed food coffee foil & film

• Processed food dry/ wet (pouches)

• Processed meat foil & film

• Snacks film

• Cheese film

• Hygiene

• Confectionery film

• Processed food film

• Snacks film

• Hygiene

• Processed meat foil

• Blister lidding foil

• Cold form foil

• Pharma laminates / specials

• Home & Personal Care (HPC) sachets specialties

27

CLOSING GEOGRAPHICAL AND PRODUCT GAPS THROUGHACQUISITIONS

Film China &

Far East, LATAM,

Middle East,

Central & North Africa

Non M&A priorities:

Foil

Backward integration,large only

North America(Top)

Film

High value addedlaminates,back and forward integration

Europe & North America(Top)

FoilConsolidation

Europe (2nd)

Film

SEA (2nd) –detailed

Analysis ongoingFoil

LATAM (Top)

Foil

Russia (Top)

Foil

China & SEA(Top)

Foil

India (Top)

Sustainability, CSR &

Constantia Flexibles6

We care about people and the planet.We envision a world in which packaging

provides people with the highest benefit

at the lowest impact on the environment.

29

NUMBER OF EMPLOYEES BYREGION

4801 FTE

53%

1111 FTE

12%

93%full-timeemployees

68%ofemployeesin production

56%of employeesare 30-50years old

19% Female

Male 81%

927 FTE

10%2274 FTE

25%

30

SUSTAINABILITY– FACTSAND FIGURES

up to 50initiativeswith environmental focus reducingenergyconsumption and CO2 emissions

+120certificates for SMETA, qualitymanagement, product safety,environmentalstandards at plantsworldwide

600ecological assessments of raw materials and life cycle assessments for product development and customers per year with an innovative LCA-meta-model

Collaboration along the

supply chain

Responsiblesourcing

Transparency and Public

reporting

31

OUR COMPANY TARGETS FOR CLIMATE

PROTECTIONAND THE CIRCULAR ECONOMY

Carbon footprint goal on corporate level

Constantia Flexibles commits to reduceabsolutescope1, 2 and 3 GHG emissionsfrom a 2015base-year.

-49%by 2050

-24%by2030

Our commitment to the circular economy

100%Constantia Flexibles pledges that 100%

of its consumer and pharma packaging

will be recyclable by 2025.

As a global flexible packaging producer and a company being

committed to sustainability, Constantia Flexibles recognizes the

importance of actively contributing to the circular economy.

Future product innovations will therefore focus on the

implementation of design guidelines to develop specifications

which are recyclable – in practice and on a commercial scale.

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BEINGAGOOD CORPORATE CITIZEN IS IN OUR DNA

Cooking for

homeless

people at

VinziRast

shelter

Vienna

Constantia Flexibles’

employees from the

Rivergate

headquarters cook

once a month in

teams of 3-4 people

for homeless people,

who sleep at the

shelter

Sponsorship of

students with

migration back-

ground

Austria

START Austria, a

sustainable initiative,

wants to contribute to

educational careers

of gifted students

with a migration

background,

supporting their

social commitment

and community

involvement to

facilitate integration.

Santa Shoebox

Project

South Africa

Employees collect and

distribute gifts in boxes

for underprivileged

children. The

shoeboxes are

distributed to more than

1000 recipient facilities

each year. In 12 years

the project has reached

762 594 children.

The project “Sponsoring

a School” was created

for schools from rural

zones which lack intheir

infrastructure.

Sponsoringa School

Mexico

Poor rural

communities in the

San Luis PotosiState

are visited in order to

give children gifts.

Christmas toys,food and supplies

Mexico

33

EXPERIENCED PEOPLEWITH

PASSION FORPACKAGING

Culture & respect

• Diversity and equal opportunities

• Live our three core competencies:

Driving customer value, fostering

collaboration, passion for results

• Full committed to Global Ethical

standards SEDEX, URSA, etc…

Learning & development

• Global Training Toolbox for all employees,

focusing on hard and soft skills

• Sales Academy to broaden skills of salesforce

• Executive Leadership Program for managers

• Finance Academy for non finance

professionals

• Operational Excellence Center for all

employees driving for lean six sigma know

how

Rewards & benefits

• Compensation philosophy based

on individual performance

• Subsidized canteens, gym

membership, commuting to work

• Team events

• Medical care (e.g. company

doctor, medical checks)

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PeoplePassionPackaging

Products7

Consumer Pharma

36

CONSUMER

Dairy

Foil Film

Confectionery & Processed Food

Foil Film

37

CONSUMER

Processed Meat

Foil Film

Home & PersonalCare

Foil Film

38

PHARMA

Coldform Blister Specials & Laminates

39

PRODUCTS CONSUMER PROCESSED MEAT

Pet Care

ALUFOIL & CONTAINER SYSTEMS

Preformed Aluminum trays and lids

are ideal for the special packaging

requirements of wet petfood.

Humanfood

Fully retortable, preformed

Aluminum trays and lids can be

used for various food products.

Capsules

Small, Aluminum based portion

packs for liquids, gels, powders,

… offer best barrier and processing

properties.

Innovations likeEcoTaineralu / DecoTainer / OvenTainer …

unique aluminum based portion

packs with special features e.g.

sustainability, marketing & design,

process-ability …

40

PRODUCTS CONSUMER PROCESSED MEAT

Wet Petfood

POUCHES & BAGS

Pouches are a common flexible

packaging format for wet petfood and

are the modern and flexible packaging

solution.

Wet Humanfood

Preserved Food packed in Pouches

are the modern and flexible alternative

for traditional rigid packaging solutions.

Dry Petfood

Dry Petfood in Bags and Pouches are

an efficient and convenient packaging

solution for multi-use formats.

41

PRODUCTS CONSUMER PROCESSED MEAT

Retort Lidding

FILMS & LAMINATES

Retort lidding films and laminates

are convenient and can be based

on aluminum or plastic-barrier

films.

Chilled MAP Films

Flowpacks and Lidding Films with

special barrier properties to be

used also for modified atmosphere

packaging.

Dry Laminates

Packing laminates for dry, meat-

based products.

42

PRODUCTS CONSUMER DAIRY

PP-PeelPlus

DIE CUT LIDS

Aluminum die cut lid with

Constantia Flexibles proprietary

coextrusion coating.

Unembossed Lid

The proven heat seal lacquered

unembossed aluminum die cut

market standard.

PaperLid

The 3-layer aluminum free die cut

lid solution.

43

PRODUCTS CONSUMER DAIRY

Alu FFS

REEL FED LIDDING

Aluminum reel fed lidding material

specification for FFS fillers.

Flexpap

An aluminum free Paper/PET

laminate sealing against PS.

Banderole

Paper based banderole to enhance

the packaging of a product. High-

Gloss and Metallized available.

44

PRODUCTS CONSUMER

Tight and peelable seal on PP and

PS containers at significantly lower

temperatures, especially for

margarine.

ComiWrap

Polyolefin Film with high amount of

mineral fillers.

CoverLeaf

CoverLeaf for margarine,

butter and fatty spreads filled in

cups; non-sealable fillings

Melted Cheese Packaging System

Constantia Flexibles system

supplier for melted Cheese

packaging: shell foil, lid foil and

tear strip.

DAIRY

BUTTER & CHEESE

Low Seal Lidding

45

PRODUCTS CONSUMER DAIRY

StickPack

SPECIALITIES

For packing dairy products into a

duplex or triplex flow wrap,

adapted accordingly to the filling

good and the customer request.

Topper

A plastic cover filled with any

ingredients e.g. muesli, cornflakes,

closed by a die cut lid & applied on

top of the yoghurt pot.

Promotion Coding

Wide array of solutions for

promotional coding: Inkjet: the

individual code is printed – possible

on both sides Reverse print: limited

codes available.

46

PRODUCTS CONSUMER CONFECTIONERY & PROCESSED FOOD

CONFECTIONERY

Wrap for Seasonals & Pralines

produced of printed or lacquered

Aluminum foil with a thickness of 9 -

20 µ, can be used for deep draw

applications

Chewing Gum Inner & Outer Wrapper

The chewing gum outer wrapper is

produced out of printed aluminum and

paper laminate.

The chewing gum inner wrapper is

produced of aluminum paper laminate

with wax or glue application

TabletFoil

Classic aluminum wrapper for

chocolate bars.

BarsWraps

Paper with aluminum laminate in

reels - depending on the

application requirements it is either

produced in wax or glue lamination

Foil

Foil

Foil

Foil

47

PRODUCTS CONSUMER CONFECTIONERY & PROCESSED FOOD

CONFECTIONERY

EcoTwist & Wrapstar

Due to the multilayer structure

Constantia Flexibles can provide

twist solutions for very specific

customer requirements

Tablet Film

Wide variety of film laminates,

partial cold seal application.

Matt or Glossy appearance;

high speed sealing

Confectionery Pouches

Wide variety of film laminates with

excellent seal properties. Premium

look; matt or glossy appearance;

easy opening by laser cut or

easyline

Chewing Gum Film

Wide variety of film laminates with

excellent seal properties.

Matt or Glossy appearance;

perfect aroma barriere

This photo is still

being processed

Twist

Film

Film

Film

48

PRODUCTS CONSUMER CONFECTIONERY & PROCESSED FOOD

SNACKS

Savory Pack

Specialized production on

dedicated printing line with inline

lamination.

Nuts & Seeds Lam

High barrier solutions with

aluminum or aluminum-free

laminates

Dried Foods

Film laminates that guarantee the

product shelf life due to

outstanding barrier properties and

hermetic seal quality.

This photo is still

being processed

49

PRODUCTS CONSUMER CONFECTIONERY & PROCESSED FOOD

PROCESSED FOODS

BabyFoodPack

A high barrier laminate

suitable for various

vertical and horizontal

FFS pouch formats

Sauce &

DressingLamA laminate with

specific components

designed for

aggressive filling

goods and hot fillings

CoverLeaf

CoverLeaf for margarine,

butter and fatty spreads

filled in cups; non-

sealable fillings

DryFoodPouch

Special developed multi

layers for all kind of

packaging formats:

pouch, doypack, sachets

etc.

CubeFoil

Aluminum laminates

with film or paper, to

form folded or sealed

cubes.

50

PRODUCTS CONSUMER CONFECTIONERY & PROCESSED FOOD

BEVERAGES

Lidding Materials

for closing of any capsule material

(eg. PP, PE, PBT, ALU, PLA)

Lacquered, coex-coated, film

laminates, recyclable(-ready),

compostable in development

Stick Pack

Special developed multi layers for

stick packs

Coffee & TeaBags

Special developed multi layers for

all kind of packaging formatslike for

example pouches, doypacks,

sachets, etc.

Liquid Pouch

Reel-fed plastic material for

pouches containing liquid

beverages

51

PRODUCTS CONSUMER CONFECTIONERY & PROCESSED FOOD

High performance laminates

for sausage packing

For this demanding field of application

we developed laminates which offer

outstanding processing qualities, high

puncture resistance and barrier

properties as well as strong and

pinhole-free sealing

TECHNICAL FILMS

52

PRODUCTS CONSUMER HOME AND PERSONAL CARE

Promotional & Retail Sachet

HOME AND PERSONAL CARE

Customized packaging solution for

your individual needs.

DoyPack

Customized structures that fits your

needs.

ShowerLam

Customized flexible laminates for

liquid soaps.

SoapWrap

Reliable quality packaging for block

soaps, offering a suitable

protection – monomaterial

available.

53

PRODUCTS PHARMA COLDFORM

CONSTANTIAColdform

COLDFORM

Most economical ultra high barrier

blister packaging

CONSTANTIAColdform Lotus

Customized solution with

antistick effect

CONSTANTIAColdform DryFoil

Coldforming Foil with active

moisture protection

CONSTANTIAColdform Penta

Coldforming Foil supporting

outstanding pocket dimensions

54

PRODUCTS PHARMA BLISTER & ACF

CONSTANTIABlister

BLISTER & ACF

High Performance Lidding Foils for

blister packaging

CONSTANTIAChild resistant

Lidding foil for child resistant

blister.

CONSTANTIABlister All in one

Blister Lidding Foil suitable for all

printing systems

CONSTANTIAAnti-Counterfeiting Security Foil

Simple qualification run due to no

change in specification

PRODUCTS PHARMA SPECIALS & LAMINATES

CONSTANTIASafemax

SPECIALS & LAMINATES

Aluminum Container

for pharma products

CONSTANTIAContact lenses

Lidding Foil for

Contact Lens

Packaging

CONSTANTIAStick Pack

Convenient and

economic for moisture

sensitive solid, liquid

and semi-liquid

products

CONSTANTIASachet

Convenient and

economic for moisture

sensitive solid, liquid

and semi-liquid

products

CONSTANTIAFlexible Blister

An innovative strip

pack for oral dosage

pharmaceuticals,

dietary supplements

and personal care

pills or tablets.

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Thank you