Update on the Proposed Disposal of Mondi Syktyvkar

Mondi plc (“Mondi” or the “Group”) 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.

About Mondi

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).

Source: Mondi plc