UBS Basic Materials ConferenceAndrew King

12 June 2008

PAGE 2

Contents

1. Mondi overview

2. Mondi’s key value drivers

3. What is next? How do we continue to create value for our shareholders?

4. Interim Management Statement

5. Summary

Mondi overview

PAGE 4

Mondi at a glance

Sales 2007 (1)

Products

Positions in

relevant markets

€1.6B

No. 2 Kraftliner(2)

No. 3 Corrugated Packaging

No. 1 Corrugated Packaging in SA(3)

No. 1 Rigid Plastics in SANo. 1 in Cartonboard in SA

No. 1 Newsprint in South Africa(2)

Leading Positions in Emerging Europe(4)

No. 1 Office Paper(2)

No. 2 UFP(2)

(1) Segment revenues, including inter-segment revenues. EBIT% before special items. (2) Based on production capacity. (3) Based on sales. (4) Management estimate based on sales. (5) Based on capacity. Sources: RISI, Pöyry Forest Industry Consulting, Freedonia, BMI Foodpack, PAMSA, Mondi

8.2%

Corrugated Bags & Specialities UCF South Africa MPSA Newsprint and

merchant

EBIT %

€2.0B

7.7%

€1.7B

5.9%

€0.6B

13.2%

€0.4B

8.4%

€0.6B

6.8%

Europe South AfricaNo. 1 kraftliner (5)

No. 1 in Office Paper and UFP (5)

No. 1 Kraft Paper(2)

No. 1 Bag Converting(3)

Europe/SA

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Mondi’s financial highlights

(1) EBITDA is operating profit of subsidiaries and joint ventures before special items, depreciation and amortisation. (2) Underlying operating profit is operating profit of subsidiaries and joint ventures before special items. (3) Underlying profit before tax is reported profit before tax before special items. (4) Underlying earnings per share is before special items and based on shares issued on admission. (5) Group ROCE is underlying operating profit including share of associates' net earnings divided by average trading capital employed.

+ 318.1%10.6%Group ROCE 5+ 46657 957 Cash inflow from operations

n/an/a23.0 Total dividend per share (€ cents per share)

n/an/a15.7 Final dividend per share (€ cents per share)

+ 7427.0 46.9 Underlying earnings per share (€ cents per share, 2006 pro forma) 4+ 71223 382 Reported profit before tax

+ 33305 405 Underlying profit before tax 3+ 33377 502 Underlying operating profit 2+ 20726 870 EBITDA 1+ 95,751 6,269 Group revenue

%Change31.12.0631.12.07In € millions, except for per share measures and ROCE

PAGE 6

Product mix1

Mondi’s core product and geographical mix

60%

Packaging40%

Graphic paper

(1) Based on segment revenues, including inter-segment revenues. (2) Revenue by origin

Geographical mix2

54%

Emerging markets

Mature markets

46%

Mondi’s key value drivers

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Value Chain Step Products Key Value Drivers

PrimaryProduction

Forestry/ Pulp Wood

Pulp

Low production costs

Access to low cost raw materials (ideally located close to low cost forestry resources)

PaperCost efficiency (e.g. integration with pulp production)Access to low cost labour

Corrugated Boxes

Flexible Packaging/ Specialities

Right balance between transportation costs, low cost production and reaction time

Paper

Fully-ConvertedProduct

Key value drivers along the value chain

Source: Mondi analysis

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Forests in Russia and South Africa make Mondi fully self-sufficient in two of the world’s

lowest-cost fibre-producing regions

Mondi is 96% self sufficient in pulp2

Mondi is potentially 50% self sufficient in wood supply

(1) Source: Pöyry Forest Industry Consulting. (2) Excluding Hungary

Mondi has access to low cost wood resources…

4742

393733

3030262525

Sweden Finland FranceBrazil Poland PortugalRussiaSouth Africa

AustraliaChile

Average hardwood and soft wood costs (€/m3, Q2 2007)1

PAGE 10

And a high quality low cost asset base

Source: Pöyry Forest Industry Consulting

Mondi Paper Machines

Universal Office Paper €/t

100% of Mondi Universal Office Paper Capacity

00 3,500Cumulative capacity (Kt/a)

Universal Office Paper €/t

100% of Mondi Universal Office Paper Capacity

00 3,500Cumulative capacity (Kt/a)

White-top Kraftliner

Cumulative capacity (Kt/a)

€/t

1,400

100% of Mondi White-top Kraftliner

capacity0

0 Cumulative capacity (Kt/a)

€/t

1,400

100% of Mondi White-top Kraftliner

capacity0

0

White-top Kraftliner

Cumulative capacity (Kt/a)

€/t

1,400

100% of Mondi White-top Kraftliner

capacity0

0 Cumulative capacity (Kt/a)

€/t

1,400

100% of Mondi White-top Kraftliner

capacity0

0

Unbleached Kraftliner

Cumulative capacity (Kt/a)

00 3,000

100% of Mondi Unbleached

Kraftliner capacity

€/t

Unbleached Kraftliner

Cumulative capacity (Kt/a)

00 3,000

100% of Mondi Unbleached

Kraftliner capacity

€/t

PAGE 11

Ongoing operational excellence and efficiency gains in 2007

Mondi is focused on operational performance

Source: Mondi

6%

3%

9%

4%

%

UFP Containerboard Corrugated packaging

Bag converting

1,0971,040

778

450

1995 2000 2006 2007

+8%1,000 units per capita

Productivity – bag convertingEfficiency gains

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Through rigorous asset management and supply side discipline

Reduced testliner capacity by 11% in 2004 (~ 110Kt)Closed 11% of corrugated packaging capacity (~280M m2) since 2004Closed paper machine South Africa (~110Kt)Closed 35 converting plants and two testliner mills, divested 30 converting plantsClosed UFP machine in Hungary in 2006 (~110Kt)Approximately 75,000 tonnes production downtime taken in 2007 to manage inventory levelsAnnounced closure of 140,000 tonne UCF paper mill in Hungary has been completed (production ceased 20 March 2008)Reduction in divisional overhead and mill headcount due to organisation restructure

(1) Includes three closures announced in 2007, but completed in 2008

No. closures/divestitures

1

10

10 5

5

7

2003

10

2004

11

2005

2

2006

4

20071

5

2002

Closure

Divestiture

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As well as cost saving initiatives

15.9%

5.0%

6.6%

9.7%15.7%

34.1%

Wood, pulp and fibre

PersonnelVariable selling expenses

Energy

Other variable costs

Maintenance

Other net operating expensesDepreciation and amortisation

6.6%6.4%

2007 Cost structure (%)

167180179

20072006

EUR millions

2005

Cost savings

3.9% 3.6% 3.1%

Cost savings of €167 million in 2007

helped to offset cost inflation

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Emerging markets are a Group focus

Revenues1

54%46%

(1) Revenues by origin

35%

65%

Mature markets

Emerging markets

Net operating assets

18%

82%

Virgin based production

What is next? How do we continue to create value for our shareholders?

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Emerging markets enjoy cost advantages

Emerging market cost position (Q3/2007 EUR/t)

BSKP

18%

Capacity distribution

Avg. cost per ton

BHKPCapacity distribution

Avg. cost per ton

Source: IIASA

18%

RoW

EM

82%

333354

242

RoW Average

-32%

Emerging markets

64%EM

36%RoW

241

315

198

Emerging markets

RoW

-37%

Average

PAGE 17(1) Sources: EMGE Woodfree Forecast Report; October 2007 for Eastern and Western Europe. World Paper markets 2020, Pöyry 2005 Edition for CIS. CIS market growth from 2004 – 2010. (2)2Source: ICCA

9.8%

6.6%

1.3%

CISEEWE

UCWF 2006 - 2011 demand growth (in %)1 Corrugated 2005 - 2010 demand growth (in %)2

8.2%

1.8%

EEWE

And have higher growth prospects

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Fibre richLow cost

High growthregions

Mondi geography priorities are:

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However, mature markets are still very important

20,472

2004

23,967

2015

1.4%

4,476

2004

8,329

2015

5.8%

Western Europe

+3,495

Eastern Europe + CIS

+3,853

Corrugated

Source: Pöyry

ScaleTechnology and know-how leadershipConsolidation opportunities

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Delivery on these projects is a current strategic priority

Swiecie, Poland

• €350m lightweight• Brownfield site• 470,000t lightweight recycled

containerboard machine and corrugated box plant

• Lowest-cost producer• of containerboard in Europe• Supply the high growth emerging

European markets• Production begins mid to late 2009

Syktyvkar, Russia

• €525m investment• Modernisation and expansion• Reduced costs, increased energy

output, increased pulp and paper production

• Reduced environmental footprint• Exposed to strong demand growth

for UFP and containerboard in the Russian market

• Construction begins Spring 2008, complete 2010

Mondi has major growth projects in emergingmarkets

Interim Management Statement

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Interim Management Statement – 7 May 20081

“Whilst there is some uncertainty over pricing and demand developments, Mondi’s product mix, emerging market

focus, continued push to drive down costs and willingness to respond quickly to changing market

conditions, gives us confidence that we will make further progress in 2008.”

(1) Group’s progress since the year ended 31 December 2007, based on estimated results up to end of April 2008.

Summary

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Summary

Leading market positions

High quality, low cost asset base

Focus on performance

Growth

Build on leading positions in packaging and Uncoated Fine Paper (UFP), particularly in emerging markets

Maintain position as lowest-cost producer in our markets:Selectively investing in production capacity in lower-cost regionsExploiting benefits of upstream integration (including forestry)

Focus on continuous productivity improvement and cost reduction, delivered through business excellence programmes and rigorous asset management

Continue to target value-enhancing growth through organic expansion and acquisitions

Mondi’s strategy