Mr. Olivier Muggli reports

WINPAK'S NEAR TERM SCIENCE-BASED TARGETS EARN SBTI APPROVAL

The SBTi (Science Based Targets initiative) has approved Winpak Ltd.'s near-term science-based emission reduction targets. These targets, coupled with the company's vision to provide the best packaging solutions for people and the planet, will be the company's primary means for measuring progress on its sustainability journey.

Winpak commits to reduce absolute Scope 1 and 2 greenhouse gas emissions 63 per cent by 2030 from a 2022 base year. Winpak also commits to reduce Scope 3 GHG emissions 51.6 per cent per metric tonne of product sold within the same time frame. These emission reduction goals are aligned with a 1.5 C temperature change trajectory.

"Winpak began its sustainability journey in earnest in 2018. We have made strong progress in reducing energy and emissions intensity over the past seven years," said Olivier Muggli, president and chief executive officer, Winpak. "Many Winpak customers have sustainability goals and SBTi commitments, and we are even more well positioned now to help them reduce their climate impact. I am proud of this commitment by the Winpak organization and look forward to accomplishing these goals."

About Winpak Ltd.

Winpak's vision is to provide the best packaging solutions for people and the planet. Winpak manufactures and distributes high-quality packaging materials and innovative packaging machines, primarily used for the protection of perishable foods, beverages, pharmaceuticals, and medical and personal care.

The company is closely aligned with Wipak, one of Europe's leading manufacturers of packaging materials. Winpak is actively engaged in driving the principles of a circular economy, and is a member of Ameripen, Association of Plastic Recyclers, Flexible Packaging Association, PAC Global, Polypropylene Recycling Coalition and the Sustainable Packaging Coalition.