PACKAGING CORP OF AMERICA

Packaging Corporation of America (PCA) is the third largest producer of containerboard products and a leading producer of uncoated freesheet (UFS) paper in North America. The company operates ten mills and 91 corrugated products plants and related facilities, with its headquarters in Lake Forest, Illinois, and operations in the United States. PCA reports in three segments: Packaging, Paper, and Corporate and Other. On September 2, 2025, PCA acquired the containerboard business of Greif, Inc. for $1.8 billion in cash. This acquisition included two containerboard mills with approximately 800,000 tons of production capacity and eight sheet feeder and corrugated plants located across the United States. The operating results of the Greif acquisition are included in PCA's Packaging segment results from the acquisition date. In the Packaging segment, PCA's containerboard mills produce linerboard and corrugating medium, which are papers primarily used to make corrugated products. The corrugated products manufacturing plants produce various corrugated packaging products, including conventional shipping containers, multi-color boxes and displays for retail merchandising, and honeycomb protective packaging.