Upgrade of Moody's Long Term Credit Rating to Baa1

Mondi Limited

Incorporated in the Republic of South Africa

Registration number: 1967/013038/06

JSE share code: MND ISIN: ZAE000156550

Mondi plc

Incorporated in England and Wales

Registered number: 6209386

LEI: 213800LOZA69QFDC9N34

JSE share code: MNP ISIN: GB00B1CRLC47

LSE share code: MNDI

7 September 2017

As part of the dual listed company structure, Mondi Limited and Mondi plc (together “Mondi Group” or “Mondi”) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure Guidance and Transparency Rules and the Listing Rules of the United Kingdom Listing Authority.

Upgrade of Moody’s Long Term Credit Rating to Baa1, Stable Outlook

Mondi Group is pleased to announce that Moody's Investors Service has upgraded the Group's credit rating to Baa1 from Baa2.

Referring to the improvement in the Group's credit rating, Andrew King, Mondi's Chief Financial Officer, commented, "We are pleased to confirm that Moody's has upgraded our credit rating in recognition of the Group's ongoing financial strength and robust business model.’

Contact

James Paterson          [phone]

Andrew King               [phone]

Lora Rossler                [phone]

We are Mondi: IN TOUCH EVERY DAY

Mondi is an international packaging and paper Group, employing around 25,000 people across more than 30 countries. Our key operations are located in central Europe, Russia, North America and South Africa. In 2016, Mondi had revenues of €6.7 billion and a return on capital employed of 20.3%.

We are fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and compound plastics, to developing effective and innovative industrial and consumer packaging solutions. With over 100 products customised into more than 100,000 solutions, we offer more than you may expect. Leading brands around the world rely on our innovative technologies and products across a variety of industries such as agriculture; automotive; building and construction; chemicals and dangerous goods; food and beverages; graphic and photographic; home and personal care; medical and pharmaceutical; office and professional printing; packaging and paper converting; pet care; retail and e-commerce; and shipping and transport.

We believe sustainable development makes good business sense. It's integral to our responsible and profitable growth, and embedded in everything we do, every day. We continue to look for ways to do more with less, promote the responsible management of ecosystems, develop and inspire our people, and enhance the value that our sustainable product solutions create.

Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker code MND and a premium listing on the London Stock Exchange for Mondi plc, under the ticker code MNDI. We have been included in the FTSE4Good Index Series since 2008 and the JSE's Socially Responsible Investment (SRI) Index since 2007.

Sponsor in South Africa: UBS South Africa (Pty) Ltd