NYSE: VRTV

I N V E S TO R P R E S E N TAT I O N

August 2021

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© Veritiv 2021 | All Rights Reserved

Forward Looking Statements

Certain statements contained in this presentation regarding Veritiv Corporation's (the "Company") future operating results, performance, business plans, prospects, guidance, the 2020 Restructuring Plan and any other restructuring, statements related to the impact of COVID-19 and any other statements not constituting historical fact are "forward-looking statements" subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Where possible, the words "believe," "expect," "anticipate," "continue," "intend," "should," "will," "would," "planned," "estimated," "potential," "goal," "outlook," "may," "predicts," "could," or the negative of such terms, or other comparable expressions, as they relate to the Company or its business, have been used to identify such forward-looking statements. All forward-looking statements reflect only the Company's current beliefs and assumptions with respect to future operating results, performance, business plans, prospects, guidance and other matters, and are based on information currently available to the Company. Accordingly, the statements are subject to significant risks, uncertainties and contingencies, which could cause the Company's actual operating results, performance, business plans, prospects or guidance to differ materially from those expressed in, or implied by, these statements.

Factors that could cause actual results to differ materially from current expectations include risks and other factors described under "Risk Factors" in our Annual Report on Form 10-K and elsewhere in the Company's publicly available reports filed with the Securities and Exchange Commission ("SEC"), which contain a discussion of various factors that may affect the Company's business or financial results. Such risks and other factors, which in some instances are beyond the Company's control, include: adverse impacts of the COVID-19 pandemic; the industry-wide decline in demand for paper and related products; increased competition from existing and non-traditional sources; procurement and other risks in obtaining packaging, facility products and paper from our suppliers for resale to our customers; changes in prices for raw materials; changes in trade policies and regulations; increases in the cost of fuel and third-party freight and the availability of third-party freight providers; the loss of any of our significant customers; uncertainties as to the structure, timing, benefits and costs of the 2020 Restructuring Plan or any future restructuring plan that the Company may undertake; adverse developments in general business and economic conditions that could impair our ability to use net operating loss carryforwards and other deferred tax assets; our ability to adequately protect our material intellectual property and other proprietary rights, or to defend successfully against intellectual property infringement claims by third parties; our ability to attract, train and retain highly qualified employees; our pension and health care costs and participation in multi-employer pension, health and welfare plans; the effects of work stoppages, union negotiations and labor disputes; our ability to generate sufficient cash to service our debt; increasing interest rates; our ability to refinance or restructure our debt on reasonable terms and conditions as might be necessary from time to time; our ability to comply with the covenants contained in our debt agreements; costs to comply with laws, rules and regulations, including environmental, health and safety laws, and to satisfy any liability or obligation imposed under such laws; changes in tax laws; adverse results from litigation, governmental investigations or audits, or tax-related proceedings or audits; regulatory changes and judicial rulings impacting our business; the impact of adverse developments in general business and economic conditions as well as conditions in the global capital and credit markets on demand for our products and services, our business including our international operations, and our customers; foreign currency fluctuations; inclement weather, widespread outbreak of an illness, anti-terrorism measures and other disruptions to our supply chain, distribution system and operations; our dependence on a variety of information technology and telecommunications systems and the Internet; our reliance on third-party vendors for various services; cybersecurity risks; and other events of which we are presently unaware or that we currently deem immaterial that may result in unexpected adverse operating results. The Company is not responsible for updating the information contained in this presentation beyond the published date, or for changes made to this presentation by wire services or Internet service providers. This presentation is being furnished to the SEC through a Form 8-K.

We reference non-GAAP financial measures in this presentation. Please see the appendix for reconciliations of non-GAAP measures to the most comparable United States ("U.S.") GAAP measures.

© Veritiv 2021 | All Rights Reserved

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Who is Veritiv?

New Leadership: 4Q 2020

Sal Abbate

Chief Executive Officer: October 2020

Previous Veritiv Roles:

  • Chief Operating Officer: January 2020
  • Chief Commercial Officer: April 2018

Previous Experience:

  • Andersen Windows, SVP Chief Sales & Marketing Officer 2011 - 2018
  • Eastman Chemical (formerly Solutia), VP Global Sales & Marketing 2008 - 2011

New leadership team is aligned around commercial-led strategy

Investor Engagement

Steve Smith

Chief Financial Officer:

March 2014

Previous Experience:

  • American Greetings: Chief Financial Officer: 2006 - 2014; VP of Investor Relations and Treasurer: 2003 - 2006
  • General Cable, Vice President and Treasurer: 1999 - 2003

Scott Palfreeman

Director, Finance &

Investor Relations:

September 2020

© Veritiv 2021 | All Rights Reserved

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Key Messages

1

Leader in Fragmented Industry

& Commitment to ESG

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Inflection Point in

Business Fundamentals

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Strategic Portfolio Transformation

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Investment in Growth

5

Earnings Expansion & Low Leverage

© Veritiv 2021 | All Rights Reserved

Largest in ~$45B total addressable packaging distribution market Diversified customer base

Chief Sustainability Officer appointed in May 2021

Doubled Adj. EBITDA Margin1 from 2% in 2017 to 4% in 2Q21 LTM2

  • Process optimization
  • Segment mix shift to Packaging
  • Packaging growth

Packaging mix shift from 55% to 75% of total Segment Adj. EBITDA since 2014

2Q21 LTM2 Adj. EBITDA CAGR of 11% in Packaging since 2017;

  • Investments in organic growth
  • Disciplined approach to inorganic growth

2Q21 LTM2 Adj. EBITDA CAGR of 10% overall since 2017 Net Leverage of 1.7x1,3; improved from 4.6x in 2017

  1. See appendix for reconciliations of non-GAAP measures to the most comparable U.S. GAAP measures.
  2. Last twelve months (LTM) as of June 30, 2021.
  3. Calculated as net debt divided by trailing twelve months of Adjusted EBITDA, as of June 30, 2021.

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Company Overview

NYSE: VRTV

© Veritiv 2021 | All Rights Reserved

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Veritiv Corporation published this content on 10 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2021 20:50:27 UTC.