PRESS RELEASE

26 January 2021

Smurfit Kappa sets new sustainability targets with Better Planet 2050

Better Planet 2050 broadens the Group's commitment to sustainability by introducing ambitious targets in new areas and updating its existing set of sustainability targets

Smurfit Kappa has today announced ambitious new sustainability targets in a number of different areas. The new targets focus on a further reduction of its environmental footprint, increased support for the communities in which it operates and further enhancement to the lives of its employees. These targets build upon the company's well-established sustainability record, on which it has been reporting since 2005, and are contained in the Better Planet 2050 commitments.

Better Planet 2050 quantifies Smurfit Kappa's continued commitment to sustainability, targeting environmental and social sustainability in areas where it believes it can have the greatest impact. These include delivering sustainable packaging to customers, reducing its environmental footprint in water usage, waste and carbon emissions and supporting its communities, promoting inclusion and diversity as well as health and safety. The targets identified are specific, measurable and provide a roadmap to deliver results in the short, medium and longer timeframes.

Smurfit Kappa Group CEO, Tony Smurfit said: "Sustainability has always been part of our DNA but concerns about how we treat our planet, how we create a more inclusive world and support greater equality across our communities has never been so important. More needs to be done to address these global challenges. That is why we are setting new, more ambitious short-term targets and longer-term goals. Better Planet 2050 quantifies our commitment to protect what we care about - our planet, our people and our business - through a set of ambitious goals that will drive actions and behaviours that will deliver better outcomes."

Smurfit Kappa is the undisputed industry leader in delivering Chain of Custody certified sustainable packaging solutions to its customers. The company will further increase its certified deliveries to customers to 95%, up from its current 90% target. Chain of Custody certified deliveries are essential in providing transparency and traceability to customers who have trust and confidence that our raw materials are sustainably sourced.

As a large processor rather than a large consumer of water, the new target will see the company reduce its overall water intake. As a manufacturer of products that are renewable, recyclable, recycled and biodegradable, the company will continue to seek alternative ways to reuse, recycle and recover waste material to reduce waste to landfill. Last year, Smurfit Kappa set out its most ambitious target to date when it announced a goal to achieve at least net zero CO₂ emissions by 2050.

Demonstrating Smurfit Kappa's care for its people and support for communities in which it operates, the company is targeting a range of measures including a further annual reduction in its Total Recordable Injury Rate (TRIR). Separately and in addition, its stated ambition is to ensure female gender representation is above 30%. Finally, the company is also committing to donate over €24 million in the next five years to support community initiatives, building upon the extensive volunteer and community work done locally throughout the world.

Tony Smurfit continued, "We recognise that good social citizenship, shown in our interactions with employees, business partners and host communities, can improve lives. It is essential to creating a sustainable future for all."

By committing to these sustainability targets, the company's Better Planet Packaging portfolio of sustainable products will continue to be produced using less resource, less energy and create less waste. In providing and developing innovative paper-based packaging solutions, reducing its impact on the planet, Smurfit Kappa can make a positive contribution to the world and help its customers to deliver on their own short and long term sustainability goals.

Finally, the company recently aligned its sustainability ambitions and targets into its financing by embedding its sustainability targets via Key Performance Indicators into its existing €1.35 billion Revolving Credit Facility ("RCF"), creating a Sustainability Linked RCF.

A summary of main sustainability targets are outlined below.

-ENDS-

Media contact:

Nicki Labram                                     

Smurfit Kappa                                    

T: +353 87 164 4672              

E: nicki.labram@smurfitkappa.com

About Smurfit Kappa

Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with approximately 46,000 employees in over 350 production sites across 35 countries and with revenue of €9.0 billion in 2019. We are located in 23 countries in Europe, and 12 in the Americas. We are the only large-scale pan-regional player in Latin America.

With our pro-active team, we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward-thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-packaging solutions, which is constantly updated with our market-leading innovations. This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills.

Our products, which are 100% renewable and produced sustainably, improve the environmental footprint of our customers. Follow us on LinkedIn, Twitter, Facebook, YouTube or visit  www.smurfitkappa.com.