PACKAGING CORP OF AMERICA

Packaging Corporation of America, trading as PCA on the New York Stock Exchange, operates as the third largest producer of containerboard products and a leading producer of uncoated freesheet paper in North America. The company maintains its corporate presence at www.packagingcorp.com and operates exclusively within the United States market.

PCA's business comprises three reportable segments: Packaging, Paper, and Corporate and Other. The Packaging segment represents the company's largest division, producing containerboard—including linerboard and corrugating medium—at ten mills with combined annual capacity of approximately 5.8 million tons. The company operates 91 corrugated products manufacturing facilities that convert containerboard into finished packaging solutions, including conventional shipping containers, multi-color retail displays, and specialized packaging for food, beverages, and industrial applications. The Paper segment operates a single mill in International Falls, Minnesota, producing both commodity and specialty uncoated freesheet papers with annual capacity of approximately 500,000 tons, serving office products distributors, retailers, and converters.

In September 2025, PCA completed the acquisition of Greif, Inc.'s containerboard business for $1.8 billion, adding two containerboard mills with approximately 800,000 tons of production capacity and eight sheet feeder and corrugated plants to its operations. This strategic acquisition significantly expanded the company's containerboard production footprint and corrugated manufacturing presence across the United States.

The company serves approximately 12,000 customers across approximately 27,000 locations. In the Packaging segment, approximately 70 percent of corrugated products sales derive from regional and local accounts, while 30 percent come from national accounts. The Paper segment's largest customer, ODP Corporation, represented 58 percent of Paper segment sales and 4 percent of consolidated sales in 2025 under an agreement extending through December 31, 2026.

As of December 31, 2025, PCA employed approximately 16,800 people, comprising 4,600 salaried and 12,200 hourly employees. Approximately 57 percent of hourly employees work under collective bargaining agreements, primarily represented by the United Steel Workers, Printing Packaging Production Workers Union, and other labor organizations. The company's products emphasize sustainability, utilizing renewable raw materials and biogenic fuels in production processes, with containerboard and paper products designed for recyclability at end-of-life.