NYSE: PACK

•Growth of E-commerce. E-commerce is a significant growth driver in our business. Approximately 40% of our net revenue is derived from sales to e-commerce end-users. We continue to believe that global investment in e-commerce provides a significant opportunity for us as e-commerce continues to grow and outpaces growth in retail sales.

•Demand for Automation and Machine Vision. Our Automation and Machine Vision product lines provide many high-volume businesses with significant improvements to end-of-line packaging speed, reduced labor, material and shipping costs, and the generation of valuable data and statistics on end-of-line performance. As businesses continue to focus on efficiency and automated solutions, we believe many will look for ways to improve production efficiencies and quality, driving further demand for our automated and machine vision product lines.

•Expansion into Cold Chain. Sales to end-users in the food and beverage industry represented approximately 3% of our net revenue in 2025, but we believe businesses and consumers are increasingly demonstrating preferences for environmentally sustainable cold chain solutions to keep food and beverages cold during transit. We have expanded our offering to include fiber-based liners and sustainable plant-based cool packs to keep perishable goods cool while they are being delivered to consumers, such as the RecyCold® climaliner Plus™. Innovative solutions such as the RecyCold Climaliner plus represent a 100% paper-based recyclable liner replacement for expanded polystyrene foam or other less sustainable cold chain options, while still ensuring that products stay within their ideal temperature range for up to 72 hours.

•Focus on Sustainability. We believe that preference for environmentally sustainable packaging solutions will be a key driver of growth moving forward, particularly to the extent plastics and other resin-based solutions come under increasing public scrutiny and regulatory pressure, and we believe consumers are continuing to demonstrate an increasing preference for environmentally sustainable solutions. For example, we believe there is a substantial opportunity to expand our consumable offering through environmentally friendly alternatives to traditional plastic mailers, such as naturemailer™, a fully curbside recyclable mailer that utilizes honeycomb paper insulation.

•Continued Product Development and Innovation. We believe our ability to consistently innovate and add products to our portfolio through internal development and mergers and acquisitions (“M&A”) will provide us with additional growth opportunities.

•Geographic Expansion. Historically, geographic expansion has fueled our growth, and we believe further geographic expansion and penetration of existing markets will continue to drive our future growth. Our full-service paper conversion facility in Malaysia became operational in the second half of 2024, and we believe the Malaysia facility has continued to improve our ability to serve customers in the region by shortening lead times as well and providing a more attractive cost profile to the Asia Pacific (“APAC”) market than we have historically

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been able to offer. Combined with the localized presence and connection to Southeast Asia, we believe the Malaysia facility can continue to bring favorable growth opportunities.

Our Strategy

We seek to enhance our position as a leading global provider of innovative sustainable packaging and end-of-line automation and machine vision solutions. To achieve these goals, we are focused on the following strategic priorities:

•Automation and Machine Vision. Our Automation products represented 10% of our net revenue in 2025, compared to 8% of our net revenue in 2024. We believe Automation will be a crucial platform for growth, enabling us to better serve end-users with higher volume requirements and more sophisticated end-of-line needs. In 2021, we established R Squared Robotics, a division of Ranpak, that uses three-dimensional computer vision and artificial intelligence (“AI”) technologies to enhance end-of-line packaging and logistics. We have continued to strengthen our focus on Automation through strategic investments in Pickle Robot Co. (“Pickle”) and a commercial partnership with Rabot Inc. (“Rabot”). Pickle is a robotics-solutions company which has developed robots for sorting, loading and unloading packaged goods. Rabot’s physical AI platform uses machine vision to provide actionable insights to help businesses optimize packing workflows and minimize material waste. Together with our strategic partners, we provide customized solutions for packing environments, and believe we are uniquely positioned to respond to demand for intelligent warehouse automation.

•Geographic and Market Expansion. We believe there are significant opportunities to increase penetration across new end markets and geographies. For example, while the APAC region has a large, well-developed parcel shipping business, it currently represents less than 10% of our net revenue in 2025. We believe our Malaysia facility will continue to strengthen our performance in this region. Furthermore, growing environmental awareness and increasing regulatory trends to limit the use of polymer-based foams and plastics present an opportunity for our fiber-based protective packaging solutions. We aim to grow beyond our current PPS systems by expanding our offerings into new end-markets.

•Drive innovation. We intend to maintain and extend our technological leadership, expertise and our environmentally sustainable value proposition through continuous improvement of our product and service offerings to bolster speed, improve efficacy, and decrease packing footprint by introducing new products that deliver the environmentally friendly solutions customers require for their business needs. Our recent innovations include:

•TheFillPak® Mini, which has an ultra-compact design that provides high efficiency even in tight packaging spaces;

•GrasiKraft™, a sustainable paper-based void fill solution crafted from a combination of grass fibers and recycled paper;

•Geami Wrap ‘n Go™, which uses patented technology to expand die-cut kraft paper into a protective 3D honeycomb structure, which can be used on its own or combined with soft-tissue interleaf paper for delicate items and special purchases;

•Print’it!™, an in-line printing solution that allows customers to print full-color customized designs on packaging, supporting branding while optimizing efficiency; and

•Cut’it!™ XL, which enables a standard packing process for oversized, bulky or multi-item orders by providing rightsizing automation for extra-large boxes.

Through our research and development (“R&D”) pipeline, we plan to continue to improve our value proposition by rolling-out next generation products to improve performance and efficiency as well as expanding product lines adapted to continuously evolving consumer and business preferences.

•Grow via partnerships and acquisitions. We believe that we are well-positioned to execute a growth strategy, targeting acquisitions or partnerships in our key areas of focus and adjacent business lines. Our investment and M&A activity demonstrates our continued focus on growing Ranpak through appropriate business acquisition opportunities as well as developing partnerships to expand the scope of our technologies, geographic presence and product offerings. We expect to focus on identifying opportunities and executing an accretive M&A strategy to further solidify our position as a leader in environmentally sustainable solutions by enhancing growth in our key areas of focus and/or acquiring adjacent businesses to our product offering.

Our PPS Products

We offer a full suite of paper-based PPS systems to meet the needs of diversified and growing end-user markets, from small businesses to global corporations. We believe our PPS systems are known for their reliability, speed and total cost

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effectiveness. We, either directly or with our distributors, work with end-users to examine their end-of-line operations to maximize throughput, minimize cost and reduce breakage. Given our comprehensive solution offering and distribution network, we are able to provide solutions that meet the needs of a broad spectrum of end-users from a single unit for a low volume end-user or a highly-customized base of hundreds of units across multiple facilities for a high-volume end-user. Our paper packaging materials are fiber-based, biodegradable and curb-side recyclable, and contain little or no plastic or other resin-based inputs. Additionally, a majority of our paper packaging materials are manufactured from entirely or partially recycled content.

Our PPS business utilizes a razor/razor-blade model where our proprietary PPS systems are provided to our distributors and end-users for a recurring nominal user fee, charged on a per-unit basis, and are coupled with the sale of high-margin value-added paper consumables that work exclusively with our PPS systems. We retain ownership of our PPS systems and require end users to use our paper consumables exclusively with our PPS systems, as the use of other suppliers’ paper on our PPS systems increases the likelihood of negative operating consequences, such as jamming, ineffective yield, and/or other performance deficiencies.

We derive the majority of our net revenue through the sale of high-margin paper consumables that work exclusively with our PPS systems. These PPS systems, which include the accompanying paper consumables, fall into three broad categories:

•Void-Fill. Our Void-Fill protective systems quickly and efficiently convert paper to fill empty spaces in secondary packages and protect objects, reducing object movement during shipping and potential damage sustained in transit. We sell our Void-Fill products under the brand name FillPak® and offer a variety of FillPak units. We have an installed base of approximately 88,800 FillPak units as of December 31, 2025. Our Void-Fill products generated $177.1 million in revenue in 2025, accounting for 45% of our total net revenue.

•Cushioning. Our Cushioning protective systems convert paper into cushioning pads by crimping paper to trap air between the layers so that objects are protected from external shocks and vibrations during shipping to prevent movement of objects as they travel through the global supply chain. We sell our Cushioning products under the brand name PadPak® and offer a variety of PadPak units. We have an installed base of approximately 34,100 PadPak units as of December 31, 2025. Our Cushioning products generated $142.1 million in revenue in 2025 and accounted for 36% of our total net revenue.

•Wrapping. Our Wrapping protective systems create pads or paper mesh to securely wrap and protect fragile items from shock and surface damage sustained during the shipping and handling process. We sell our Wrapping products under the brand names WrapPak® and Geami®. Included within our Wrapping systems are our Cold Chain products, which are used to provide insulation for goods that require temperatures to be controlled during transport. We have an installed base of approximately 22,900 Wrapping units, which were predominantly Geami converter units, as of December 31, 2025. Our Wrapping products generated $36.7 million in revenue in 2025, which accounted for 9% of our net revenue.

Our PPS products are designed to be flexible and responsive to the needs of our end-users. The flexibility and breadth of our full range of systems allows us to provide our end-users with the optimal protective solution to meet their specific needs and help ensure that their products reach their shipping destination in a cost-effective manner with minimal breakage.

Our Automation Products

Our Automated Paper Solutions (“APS”) and Automated Solutions (“AS”) (collectively, “Automation”) product lines enable customers to significantly automate their end-of-line fulfillment operations. These product lines are designed to provide customers with numerous benefits through automation, including the reduction of waste, labor and shipping costs, which taken together, result in improved efficiency. Additionally, our Automation systems can be configured to provide customers with valuable data, including throughput rates, error rates and processed-versus-rejected packages, that allow our customers to identify areas to improve efficiencies. Moreover, we continue to enhance our Automation offerings to include additional digital tools designed to further increase the benefits of our solutions, including by providing customer-specified insights and data. As the market for our Automation products is rapidly evolving, we have expanded our Automation services to offer data subscriptions, extended service warranties beyond the initial warranty period, packaging line solutions and the sale of spare parts and consumables.

Our Automation systems are designed to solve distinct challenges facing end-users, including:

•Automated Dunnage Insertion. Our APS systems pair three-dimensional computer vision with Ranpak converters to automatically determine the optimal amount of void-fill or wrapping necessary to protect the product or products being shipped and then dispense that optimal amount into a box prior to its being sealed by our automated solution. These systems reduce the total cost of ownership for our end-users by reducing labor and dunnage costs.

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•Automated Box-Sizing. Our AS systems include several automated box-sizing solutions and corrugated case erectors to tailor the size of the corrugated box to the size of the product or products being shipped. These systems allow our end-users to both reduce their dunnage needs and end-of-line labor costs while optimizing palletization and logistics costs with smaller boxes.

•Machine Vision Solutions. Our machine vision solutions combine a modular software architecture with the capability to perform machine learning-based machine vision inspections on greyscale or color 2D images and 3D point clouds. This capability enables both APS and AS customers to increase uptime of their automation machinery by performing an inspection of the boxes prior to being processed. It also helps improve quality and efficiency by performing an inspection of the finished carton to ensure proper sealing and that the package has the correct graphics and necessary labeling. Our machine vision solutions provide customers with insights into their business, such as data on void-levels for compliance checks and improved packaging.

Our AS products are comprised of configurable automated systems that fulfill the needs of end-of-line packaging automation for product distribution and shipping. We utilize a right-sizing technique that optimizes the size of corrugated boxes to fit the contents being shipped. In addition to optimizing box-size, we offer AS systems to automatically erect and form corrugated boxes. Our systems allow end-users to minimize dunnage use, utilize sustainable dunnage, and improve the speed and efficiency of end-of-line packaging operations as well as help reduce product returns from damage during shipment.

Our APS systems utilize proven Ranpak paper converter technology and help end users automate the void-filling and box closure processes after product packing is complete. Using machine vision, these technologies dispense the proper amount of void-fill to protect products while minimizing labor requirements to pack and, depending on end-user need, can be configured to close the box, insert sustainable paper cushioning liners within boxes, and/or apply shipping labels. Our systems provide for the capability to insert void-fill and close multiple dimensions of box sizes, and can be fully automated or semi-automated to suit the end user needs. These systems allow end-users to minimize labor, optimize their use of dunnage, improve protection for items being shipped and make end-of-line packaging operations more efficient.

Unlike our PPS systems, we do not retain ownership of our AS systems, and in most cases do not retain ownership of our APS systems. Rather, we design and sell our AS systems outright to our customers and derive revenue by designing, manufacturing, installing, and servicing AS systems at end-user facilities. Depending on the needs of a customer, our APS systems are sold outright to the customer or may include a mix of components sold outright and components of which we retain ownership. Our Automation products generated $39.1 million in revenue in 2025, which accounted for 10% of our net revenue.

Our Distribution Model

Distributors. We sell the vast majority of our paper packaging materials to an established network of over 250 distributors worldwide which, in turn, store, market and sell our products to end-users. These distributors vary in size and, generally, offer a broad suite of packaging and other warehousing products and services to the end-users they serve. Substantially all of our net revenue from distributors is generated by those who have agreed to exclusivity with our products and not to sell or promote competitors’ paper-based solutions.

We have built and maintained a well-established distributor network that is comprised primarily of long-term business relationships and the continuity of these relationships evidences the strength of our business model, as well as the value proposition for our distributors and end-users. Furthermore, the depth and longevity of these relationships result in a distributor network that is highly knowledgeable and well versed in conveying the benefits of our systems to end-users. We believe that our distributor-based distribution model is particularly well suited to the highly fragmented nature of the protective packaging solution end-user market we seek to serve by enabling us to reach a broad range of end users across size, industry and geography while maintaining a lean internal sales force and capital base. In 2025, approximately 80% of our total net revenue was derived from sales to our distributors.

End-Users. In addition, we sell our PPS systems and Automation products directly to certain select end-users, including those that operate some of the largest, most complex and sophisticated warehouse operations into which our PPS and Automation systems are integrated. Our engineering and other teams also assist our direct-sale end-users in ensuring the optimal customized installation of our products at their facilities. Direct sales to end-users accounted for approximately 20% of our net revenue in 2025.

Integrators. We also sell our Automated Solutions to end-customers through a network of warehouse automation integrators. Many end-customers utilize warehouse automation integrators to implement sophisticated and comprehensive warehouse automation and logistics solutions which can include end-of-line packaging needs.

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Operating Segments

Our business is global, with a strong presence in the U.S. and Europe along with an expanding footprint in Asia, enabling us to serve multi-national customers across more than 50 countries.

We have organized our business on a geographic basis, and report our financial performance using two segments, North America and Europe/Asia, which reflects the way we evaluate our business performance and manage our operations. The North America segment primarily consists of amounts earned from sales from our PPS and Automation products from our operations in Ohio, Missouri, Nevada, and Connecticut, and the Europe/Asia segment primarily consists of amounts earned from sales from our PPS and Automation products from our operations in the Netherlands, the Czech Republic and Malaysia. Additional information is contained in Item 8 of Part II, “Financial Statements and Supplementary Data — Note 4 — Segment Information.” The North America and Europe/Asia business segments each serve a similar customer base as discussed in “Our Market” within this Item 1.

Sales and Marketing

We utilize a disciplined, high-touch commercial model designed to maximize the lifetime value of each customer and generate predictable, recurring revenue. Our global sales and engineering teams collaborate with distribution and integration partners to execute a deep engagement strategy, focusing on the seamless, customized deployment of our PPS and Automation solutions. We believe this approach differentiates us by optimizing the end-user's operational efficiency and total cost of ownership.

This commercial strategy is further refined through a data-driven approach that enables us to strategically target prospects where our comprehensive value proposition gives us a strategic advantage against competing solutions. By focusing resources on accounts with a high propensity to adopt sustainable packaging and automation, we ensure we deliver an unrivaled return on investment for our customers, thereby accelerating conversion and reinforcing long-term partnership commitments.

Crucially, every system deployment is subject to rigorous minimum annual paper consumption thresholds. This strategic discipline ensures that the capital we deploy is highly productive, aligning our investment with guaranteed volume commitments and reinforcing the long-term, annuity-like nature of our business model.

Our Market

Our end-user market consists of any business that sells and ships products requiring packaging. Accordingly, these end-users are highly dependent on their ability to obtain a cost-effective and efficient in-the-box packaging solution. Our end-users operate in a variety of businesses, including e-commerce, industrial manufacturing and machinery, and others.

E-commerce. We believe changing consumer preferences and buying habits will drive continued e-commerce growth, both among pure-play e-commerce companies, as well as among historical brick-and-mortar companies seeking to expand their e-commerce presence. We further believe the critical necessity of brand owners to optimize supply chains and reduce capital spend drives the important trend in concentration of logistics through third-party logistics providers that in turn drives increasing needs for efficient packaging end-of-line solutions. The availability of a broader product selection on-line, faster delivery times, and increased in-store pickup options all drive significant growth in on-line sales. This expansion of e-commerce is a worldwide trend that we believe will continue to accelerate as on-line penetration grows in developed and emerging markets. Although some of our e-commerce end-users are focused on the responsible reduction of their need for void-fill material more broadly, they generally require protective packaging solutions that can be integrated into their existing supply and distribution infrastructures on a low-cost and efficient basis. Most commonly, our e-commerce end-users purchase our Void-Fill solutions, but many also use our Automation, Wrapping, and Cushioning systems. Sales to our e-commerce end-users, directly and through distributors accounted for approximately 40% of our net revenue in 2025.

Industrial Manufacturing. Our industrial manufacturing end market includes end users manufacturing products utilized for tools, construction supplies, energy and utilities, chemicals, paints, and metals. We believe demand in these sectors will increase as growing populations and expanding middle classes in developing countries generate more disposable income. Higher demand for advanced machines spurs increased spending on tools and robotics while higher demand for housing, infrastructure and commercial buildings benefits the tools and construction supplies sectors. Sales to industrial manufacturing end-users accounted for approximately 11% of our net revenue in 2025.

Industrial Machinery. We believe demand for industrial machinery and equipment used in sectors such as agriculture, construction, mining, packaging, and food processing will increase as economies expand, thus requiring additional infrastructure spend as well as increasing the need to feed growing middle-class populations across the globe. Sales to our machinery end-users accounted for approximately 6% of our net revenue in 2025.

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Others. Our end-users also operate in many other industries, including the automotive aftermarket, electronics, pharmaceuticals, home furnishing, food and beverage, warehousing, and other various industries and accounted for approximately 43% of our net revenue in 2025, in the aggregate.

Seasonality

We estimate that over a third of our net revenue in 2025, either directly or to distributors, was destined for end-users in the e-commerce sectors, whose businesses frequently follow traditional retail seasonal trends, including a concentration of sales in the holiday period in the fourth quarter. Our results tend to follow similar patterns, with the highest net revenue typically recorded in our fourth fiscal quarter and the slowest sales in our first fiscal quarter of each fiscal year. We expect this seasonality to continue in the future and, as a result, our results of operations between fiscal quarters in a given year may not be directly comparable.

Our Paper Suppliers

We convert the vast majority of raw paper to create rolls and bundles of paper that integrate with our PPS systems and into direct or consumable products. We purchase kraft paper from various suppliers for conversion into the paper consumables we sell. The kraft paper we purchase includes paper that is substantially manufactured from virgin pulp, as well as paper that is substantially manufactured from recycled post-industrial and/or post-consumer waste (“PCW”). Most of the paper we source is Forest Stewardship Council (“FSC”) certified.

Before we determine to purchase paper from any supplier, the supplier must undergo a qualification process to ensure that its product meets our exacting requirements. This qualification process involves an evaluation of the physical specifications of the potential supply source, as well as extensive testing for the paper’s convertibility – on the fan-folding, rewinding and die-cutting raw paper converters in our facilities – and in the protective packaging systems we place with our end-users. Once a supplier is qualified, we purchase large rolls of kraft paper from that supplier for integration into our existing supply and production chain. The paper rolls are converted at our facilities before sale to our distributors and direct end-users for use with our Void-Fill, Cushioning and Wrapping protective systems.

In 2025, we purchased raw paper from approximately 30 paper mills, and our largest single source of raw paper sold us approximately 60% and 27% of the paper purchased in North America and globally, respectively. We typically negotiate supply and pricing arrangements with most of our paper suppliers quarterly or semi-annually, many of which we have long-standing relationships with, which helps us mitigate shorter term fluctuations in paper cost.

Our Industry and Competition

The protective packaging industry is highly competitive, featuring both large, scaled, multi-national conglomerates and smaller, regional specialists. Our primary competitors for our PPS products include Sealed Air Protective Division, Pregis (FP International/Easypack), Intertape Polymer Group (IPG), Storopack and Sprick. Most of these manufacturers offer multi-substrate solutions including traditional plastic- and petroleum-based materials like foam, loose-fill, plastic air pillows, and plastic bubble wrap, alongside fiber-based products. In the rapidly expanding market for warehouse automation, our competition also includes specialized providers of box-making and high-volume machinery, such as Packsize International, LLC, CMC Packaging Automation and Smurfit WestRock Company. These companies primarily focus on optimizing carton dimensions (right-sizing) and reducing void space, a key driver for e-commerce and logistics.

We believe we are the only global “in-the-box” protective packaging specialist singularly focused on sustainable, fiber-based solutions. Additionally, we believe we are a leader in automated void reduction systems technology and differentiate ourselves through our suite of APS and AS solutions, delivering efficiency gains through automation plus sustainability benefits by exclusively utilizing paper.

Historically, growth in the protective packaging industry has been positively impacted by trends such as expedited delivery of individualized packages, globalization of the supply chain and increased focus on efficiency and reduced shipping costs. We believe our integrated approach has positioned us as one of the leading global suppliers of fiber-based packaging materials and related systems, leveraging our automation portfolio to capture significant efficiency-driven growth in the premium end of the market.

Commitment to Sustainability

In 2020, we committed to achieving the following sustainability targets by 2030:

•Reducing greenhouse gas emissions by 46%;

•Sourcing an aggregate paper supply consisting of at least 75% recycled pulp;

•Obtaining FSC, Sustainable Forestry Initiative, or Programme for the Endorsement of Forest Certification for 100% of our paper packaging;

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•Sourcing an aggregate paper supply consisting of at least 25% PCW or alternative pulp

Since announcing these goals, we have made meaningful progress. For example, in 2022, we announced that we had already met our goal of sourcing an aggregate paper supply consisting of at least 25% PCW or alternative pulp by 2030.

According to our 2024 Sustainability and Impact Report (issued August 2025), approximately 66% of our aggregate paper supply was manufactured from recycled pulp, with 56% being PCW or alternative pulp. Moreover, in 2024, approximately 92% of our global raw paper supply was FSC-certified.

Human Capital Resources

We are a global organization that values life experiences, ideas, and cultures that each of our employees bring to Ranpak, striving to create an atmosphere of acceptance and respect, facilitating an encouraging environment, and helping employees attain professional and educational goals. We utilize interview guides in our hiring processes to help identify different competencies and to ensure that new hires are developed in these areas. Additionally, we developed robust training to ensure that every potential candidate is given a fair and merit-based evaluation of their skills.

We strive to maintain an active dialogue with our employees and provide employees a comprehensive benefits package including competitive wages, medical, life, and accident insurance, incentive bonus programs, and a 401(k) plan with an employer matching contribution. We have departmental budgets set aside for training and also provide a tuition reimbursement program for employees seeking bachelors or masters degrees. Certain employees are also eligible for stock-based compensation programs that are designed to encourage long-term performance aligned with Company objectives.

In Europe, most of our employees, including most of our employees in the Netherlands, are represented by either labor unions or workers councils and are covered by collective labor agreements that are generally renewable on an annual or bi-annual basis. As is the case with any negotiation, we may not be able to negotiate or renew acceptable collective labor agreements in such cases, which could result in strikes or work stoppages by affected workers. Renewal of collective labor agreements could also result in higher wages or benefits paid to employees. A disruption in operations or higher ongoing labor costs could materially adversely affect our business, financial condition or results of operations.

As of December 31, 2025, we had over 800 full time employees worldwide, approximately 300 of whom were located in the United States. Certain employees, primarily those located in European countries, are covered by collective labor agreements.

Our Intellectual Property

We have a long history of continuous systems innovation and product development supported by our comprehensive patent portfolio. We have maintained an extensive patenting program since our inception for our PPS systems and accessories, processes and paper packaging materials. We maintain substantial trade secret knowledge regarding the utilization of our paper consumables in each model of our PPS systems product lines, which, together with the distributor contractual arrangements described above, prevent third-party paper from being used on our PPS systems. We hold over 855 U.S. and foreign patents and patent applications directed to various innovations related to our business, as well as more than 310 U.S. and foreign trademark registrations and trademark applications that protect our branding. We are also vigilant in protecting our intellectual property, by monitoring competitor activity, providing notice to potential infringers, and bringing litigation whenever and wherever necessary and appropriate.

Governmental Regulation

Federal, State, Local, and International Regulations

We are required to comply with numerous laws and regulations covering areas such as workplace health and safety, data privacy and protection, labor and employment. We monitor changes in these laws to maintain compliance with applicable requirements. Compliance with, or liability under, these laws and regulations can require us to incur significant costs and have a material adverse effect on our capital expenditures, earnings, and competitive position.

Environmental Matters

We are subject to a number of federal, state, local and international environmental-related health and safety laws and regulations that govern, among other things, the manufacture and assembly of our products; the discharge or pollutants into the air, soil and water; the use, handling, transportation, storage and disposals of hazardous materials; and environmental remediation or reclamation activities. We are also required to hold various permits to conduct our operations. New and evolving ESG and climate change-related regulations may result in enhanced disclosure obligations, which could materially increase our regulatory burden and compliance costs and expose our business to additional risk, including those under the Task Force on Climate Related Financial Disclosures (“TCFD”), the Corporate Sustainability Reporting Directive (“CSRD”) in the European Union (“EU”), and the EU Regulation on Deforestation Free Products. Compliance

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with, or liability under, these laws and regulations can require us to incur significant costs and have a material adverse effect on our capital expenditures, earnings, and competitive position.

Available Corporate Information

We maintain a website at www.ranpak.com. We make available, free of charge, on this website our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as soon as reasonably practicable after such reports are available, electronically filed with, or furnished to the SEC. These reports are also available at the SEC’s website at www.sec.gov. Apart from SEC filings, we also use our website to publish information which may be important to investors, such as analyst and investor presentations. Any information on our website or obtained through our website is not part of this Report.