MeadWestvaco Credit Suisse Conference

Credit Suisse2012 Global Paper & Packaging ConferenceE. Mark RajkowskiSenior Vice President & Chief Financial Officer

February 23, 2012

2

Forward-Looking StatementsCertain statements in this document and elsewhere by management of the company that are neither reported financial results nor other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of each company, or industry results, to differ materially from those expressed or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties, and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to, events or circumstances which affect the ability of MeadWestvaco to realize improvements in operating earnings from the company's ongoing cost reduction initiatives; the ability of MeadWestvaco to close announced and pending transactions, including MWV Consumer & Office Products/ACCO Brands transaction; the reorganization of the company's packaging business units; competitive pricing for the company's products; impact from inflation on raw materials, energy and other costs; fluctuations in demand and changes in production capacities; relative growth or decline in the United States and international economies; government policies and regulations, including, but not limited to those affecting the environment, climate change, tax policies and the tobacco industry; the company's continued ability to reach agreement with its unionized employees on collective bargaining agreements; the company's ability to execute its plans to divest or otherwise realize the greater value associated with its land holdings; adverse results in current or future litigation; currency movements; volatility and further deterioration of the capital markets; and other risk factors discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2010, and in other filings made from time to time with the SEC. MeadWestvaco undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are advised, however, to consult any further disclosures made on related subjects in the company's reports filed with the SEC.

Credit Suisse 2012 Global Paper & Packaging Conference / February 23, 2012

We have built a business model that is delivering step-change performance

Key Takeaways

3Credit Suisse 2012 Global Paper & Packaging Conference / February 23, 2012

1Our improved growth profile will drive strong earnings and cash flow

We expect to achieve top quartile TSR32


MWV: A Global Packaging Leader

$6.1 Billion2011 total sales

100+nations where we market our products

28% 2011 total sales from emerging markets

17,500 employees worldwide

705,000acres of forestland under sustainable management

$1.00annual dividend

73%Packaging

13%Specialty Chemicals

12%Consumer & Office Products

2%Community Development & Land Management

Sales by Business Segment


Our Strong, Sustainable Business Model

* Unaudited** Excludes $350 million of Alternative Fuel Mixture Credits

367531

635

6.8%

9.3%10.5%

0%

2%

4%

6%

8%

10%

12%

$0

$250

$500

$750

2009 2010 2011*

Adjusted EBIT / EBIT Margin

28% 28%

32%

0%

10%

20%

30%

2009 2010 2011

Net Debt to Total Capital

Cash Flow from Cont. Ops.($MM) ($MM)

481551 565

$0

$200

$400

$600

2009** 2010 2011


Our Powerful Packaging Platform

Our Revenue Growth Model

~ 1-2%

~ 1-2%

~ 2-3%~ 1-2%

~ 5% +


CoreMarket

Commercial Excellence

Innovation

EmergingMarkets

Total

Average annual growth over next 3-5 years

+ $1 billion

Our Profitable Growth Levers


Commercial Excellence~ 1-2% per year

• Right people• Right capabilities• Customer

partnerships

Innovation~ 2-3% per year

• Robust, sustainable pipeline

• Insights-centric• Scalable platform

Emerging Markets~ 1-2% per year

• Strategic geographies• Demonstrated track

record• Investing for the

future

5%+ Revenue Growth

• Leading designer and manufacturer of dispensing closures

• Brings new capabilities in targeted markets of food, personal care, and home and garden


Growth Through Expanded Participation


Our Business Model

~ 25-50 bps

~ 25-50 bps

MarginExpansion

• Commercial Excellence• Innovation• Emerging Markets

Core Growth Levers

• Existing manufacturing capacity

• Overhead structureOperating Leverage

• Operational excellence• Supply chain expertiseProductivity


Our Shareholder Value Framework

Top Quartile TSR

Earnings Growth~ 7-10%+

Dividend Yield~ 3-5%

MarginExpansion

~ 50-100 bps

Revenue Growth~ 5%+

We have built a business model that is delivering step-change performance

Key Takeaways


1Our improved growth profile will drive strong earnings and cash flow

We expect to achieve top quartile TSR32

Investor Relations

MeadWestvaco Credit Suisse Conference