Board Converting News, May 20, 2024

Steve Henry Shares (CONT’D FROM PAGE 22)

The integration effort is a tremendous learning oppor- tunity for all of us. I’ve been through several large mergers and acquisitions in my career, and I’ve personally learned and grown in each of those situations. We’ve done an ex- cellent job in sharing what we do well and in learning from others to really accelerate our continuous improvement as a team. I’m proud of what we accomplished in 2023, and it will continue to be one of our key focus areas for 2024. What kind of results has the integration yielded for the business? I’m particularly proud on the customer front. We’ve real- ly come together as a team and made sure that we’re go- ing to the customer with one face and with one commercial strategy. The commercial and manufacturing operations teams have also made significant progress optimizing our mill network’s capabilities by transferring production of different product grades to better meet customer needs. While there is still work to be done, the teams continue to focus on putting the right products at the right locations to optimize our capabilities and cost structure. It is all made possible by the flexibility within the system created by our combined breadth and scope. It’s also important to highlight the fabulous job our glob- al procurement team has done to leverage our collective spend by consolidating our spending with fewer suppliers to negotiate better pricing, better terms and better service.

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May 20, 2024

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