Exhibit 99.2
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Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Project Chelsea Management Presentation for restricted creditors December 21, 2017
Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Disclaimer This presentation was prepared on a confidential basis by management of Cenveo Inc. (“Cenveo” or the “Company”), and is being delivered to certain creditors of the Company and their advisors. Rothschild Inc. (“Rothschild”) is acting as financial advisor to the Company. This presentation provides summary information only and is being delivered solely for informational purposes. Neither the creditors of the Company, their respective advisors nor any other person may rely upon this presentation for any purpose. This presentation should not be construed as a commitment by the Company to pursue any transaction or any other course of action, and any transaction or course of action described in this presentation may not occur. This presentation is based upon information that is publicly available or which was provided by or on behalf of the management of Cenveo, including, without limitation, management operating and financial forecasts or projections. Such information involves numerous significant assumptions and subjective determinations that may or may not be correct. No representation or warranty, express or implied, can be made or is made by the Company or Rothschild as to the accuracy or completeness of any such information or the achievability of any such forecasts or projections. Rothschild has not assumed any responsibility for independent verification of any of such information contained herein, including, but not limited to, any forecasts or projections set forth herein, and Rothschild has relied on such information being complete and accurate in all material respects. Except where otherwise indicated, this presentation speaks as of the date hereof and is necessarily based upon the information available and financial, stock market and other conditions and circumstances existing and disclosed as of the date hereof, all of which are subject to change. Management of the Company does not have any obligation to update, bring-down, review or reaffirm this presentation. This presentation is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by management of the Company. Under no circumstances should the delivery of this presentation imply that any information or analyses included in this presentation would be the same if made as of any other date. Nothing contained in this presentation is, or shall be relied upon as, a promise or representation as to the past, present or future. Nothing contained herein shall be deemed to be a recommendation from the Company or Rothschild to any party to enter into any transaction or to take any course of action. This presentation does not constitute advice of any kind, including, without limitation, legal, tax or accounting advice, and the creditors of the Company and their respective advisors should receive (and rely on) separate and qualified advice as to the matters set forth herein, including legal, tax and accounting advice. These materials do not constitute an offer or solicitation to sell or purchase any securities. THIS PRESENTATION IS CONFIDENTIAL, AND IT MAY NOT BE COPIED BY, OR DISCLOSED OR MADE AVAILABLE TO, ANY PERSON WITHOUT THE PRIOR WRITTEN CONSENT OF THE COMPANY. Neither the Company nor Rothschild shall have any liability, whether direct or indirect, in contract or tort or otherwise, to any person in connection with this presentation. 1
Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Contents Sections 1 Executive summary 2 2 Industry dynamics 12 3 Disciplined cost focus 17 4 Envelope overview 20 5 Labels overview 25 6 Print overview 31 7 Corporate financials and consolidated summary 37
Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 1 Executive summary
1. Executive summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Business Plan and liquidity projections caveats The Company’s current business plan (the “Business Plan”) and liquidity forecast were developed in early October based on information available at that time together with actual results through September The Business Plan was developed in advance of the Company’s normalyear-end budgeting process and did not take into account the impact of a potential bankruptcy filing and rumors in the marketplace Since the Business Plan and liquidity forecast were developed, a number of events have occurred that will likely negatively impact the Business Plan and liquidity forecast including, but not limited to: Rumors and news articles of a potential bankruptcy filing Customersde-risking to a greater extent than forecasted based on rumors in the marketplace New customers failing to give expected new business due to financial concerns Vendors losing credit insurance Vendors tightening terms Potential risk that ABL lenders will add additional reserves that would reduce the ABL Borrowing Base Zolfo Cooper was retained the week of December 11th to assist the Company and its other professionals with the contingency planning efforts currently underway As a result of the foregoing, the Company is updating the Business Plan and liquidity forecast, including the preparation of a DIP budget, which will likely result in a lowering of the financial projections and information contained herein 3
1. Executive summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Cenveo at a glance Market leader in print-related offerings Description (“Cenveo” or “the Company”) is a diversified manufacturer of print-related products offering solutions in the areas of envelopes, custom labels, commercial print, publisher solutions and more. The Company operates the business in three complementary reportable segments: Envelope, Labels and Print Strong market share The Company is the largest envelope manufacturer in North America, producing over 50 billion envelopes annually The Labels division is the leader in prescription labels to retail pharmacy chains and custom pressure sensitive labels through resale markets The Print division is the 4th largest printer in North America Broad geographic diversity The Company has over 30 operating plants across the U.S as well as strategic partnerships across the world Strategically-located facilities enable the Company to meet customer demands when needed Geographic diversity mitigates impact of region-specific fluctuations while reducing freight costs and delivery risk to customers Note 1 Revenue and Adj. EBITDA numbers exclude the operating results of Quality Park 2 Revenue and Adj. EBITDA numbers include the operating results of Quality Park Recent developments veo announced Q3 2017 revenue1 of $330m and Adj. EBITDA1 of $24m November 2017 Sale of Cenveo Office Product division (“Quality Park”) for $36.5m of net proceeds July 2017 Cenveo announced Q2 2017 revenue2 of $355m and Adj. EBITDA2 of $30m. Updatedtwo-year profitability improvement plan to $65m February 2017 Cenveo announced $50mtwo-year profitability improvement plan and provided FY 2017 guidance for revenue1 of $1.6bn and Adj. EBITDA1 of $150m June 2016 Cenveo completed an exchange offer for 11.5% Unsecured Notes due 2017 for new 6.00% Unsecured Notes due 2024 and completed the issuance of 4.0% FILO Notes due 2021 Key financial highlights (excluding Quality Park) ($m) $1,529.0 $1,326.1 $1,287.4 $1,277.8 $1,284.1 10.7% 10.7% 9.8% 8.8% 8.8% 2016A 2017E 2018E 2019E 2020E Revenue Adj. EBITDA margin (%) 4
1. Executive summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Cenveo core competencies Cenveo’s management team has leveraged its core competencies to address the secular challenges it faces 1 Proven track record of identifying and consolidating acquisitions Cenveo has successfully completed and integrated accretive acquisitions in higher growth, higher margin segments 2 Proven track record of extracting savings from those acquisitions and achieving synergies Operational synergies achieved through elimination of duplicate SG&A, consolidation of suppliers, reduction of waste, minimization of working capital requirements and other operational efficiencies 3 Track record of identifying and divestingnon-core business units Allows Cenveo to focus its efforts on its core operations, specifically in envelopes, labels and commercial print segments 4 Ongoing profitability improvement program implemented and achieved over $250m of cost savings over the last 10 years 2017 cost-savings initiative with $18.1m realizedyear-to-date 5 Strong long-term customer relationships and significant new customer acquisitions Customer relationships averaging 15+ years 6 Strategic foresight to grow into new product offerings Company has developed and deployed its Kadena platform that provides a multitude ofvalue-add services to customers 5
1. Executive summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Revenue and Adj. EBITDA by business Financial projections prepared on October 19, 2017 FY 2017E Revenue % by segment1,2 FY 2017E Adj. EBITDA % by segment2,3 Revenue Adj. EBITDA Print Print 22% 32% Envelope Envelope 44% 48% Labels Labels 34% 20% Revenue by segment ($m)1,2 Adj. EBITDA by segment ($m)2,3 $2,000 $160 $138.6 $134.6 $137.1 $137.8 $1,593.4 $1,529.0 $125.7 $1,600 $116.8 $1,326.1 $1,287.4 $1,277.8 $1,284.1 $120 $60.7 $57.1 $57.8 $64.4 $49.2 $1,200 $761.6 $735.1 $51.7 $640.8 $627.0 $624.7 $631.0 $80 $800 $322.1 $301.4 $46.8 $38.7 $50.0 $52.1 $52.1 $266.4 $256.8 $252.2 $252.2 $40 $39.7 $400 $509.7 $492.6 $418.8 $403.6 $400.9 $400.9 $31.2 $31.5 $25.4 $26.6 $27.9 $27.9 — — 2015A 2016A 2017E 2018E 2019E 2020E 2015A 2016A 2017E 2018E 2019E 2020E Print Labels Envelope Print Labels Envelope Notes 1 Revenue by segment is inclusive of corporate eliminations 2 Excludes Quality Park business (pro forma for divestiture) 3 Adj. EBITDA by segment is inclusive of allocated corporate costs 6
1. Executive summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Product segment overview Envelope Labels Print 2017E sales $641m $266m $419m % of 2017E group 48% 20% 32% sales 2017E Adj. EBITDA / margin $52m / 8.1% $40m / 15.0% $25m / 6.0% Financial services Pharmaceutical Logistics Financial services Retail Key industries Cable & Telecom Food & beverage Resale Communications Automotive served Travel & leisure Retail Government Travel & leisure Education Insurance Travel & leisure Healthcare Healthcare Publishing Direct mail Custom labels (short run)Sheet-fed large format printing Key products / services Transactional mail (billing & remittance) Prescription labelsShort-run and custom / digital printing Wholesale envelopes Long run labels & POS Content development Market size ~$2.1 billion ~$15 billion ~$85 billion1 Market share ~31% ~2% < 1% Key competitors Note 1 November 2016 Printing in the U.S. IBISWorld Industry Report 7
1. Executive summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Broad geographic reach National operating footprint allows the Company to deliver flexible, customer-centric products Map of key operational facilities Commentary National platform reduces our cost and risk to Kent customers Clackamas We have the flexibility to redeploy our equipment to maximize efficiency Williamsburg Chicopee Altoona Conklin Geographic diversity mitigates impact of Chicago Stamford region-specific fluctuations Cleveland Omaha Jersey City Unique Envelope Platform that gives Cenveo Denver Kirksville Indianapolis Ft. Washington Lancaster a competitive advantage in meeting the St. Louis Pikesville needs of the local market Mount Hurlock Columbia City of Industry Joplin New Albany Pleasant Continued opportunity toco-locate operations Amarillo Jefferson City Richmond into a single facility to increase leverage Los Angeles Smyrna Dallas Ennis Longwood San Antonio Cenveo headquarters Labels Digital print United Kingdom India Publisher / content services Envelopes Print Kapolei New Delhi Fulfillment and distribution Hawaii Mumbai Chennai London Bangalore 8
1. Executive summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Competitive differentiators The largest envelope manufacturer in North America (~5x larger than next competitor) Market leader 4th largest commercial printer in North America Leader in several niche label products Strategically-built platforms One of the few large platforms in the envelope and print industries. Flexible manufacturing infrastructure with capacity to grow, that can be leveraged for 75% of the cost structure is variable ongoing industry consolidation Over 30 operating plants can service ~90% of the U.S. population within2-3 business days Long-term customer Marquee customer base representing several of the top companies in their respective industries relationships across variousend-markets Diversified exposure across attractiveend-markets including healthcare, financial, automotive and telecom Strong profitability and cash Track record of exceeding profitability improvement initiatives generation profile Continued opportunities to consolidate across the platform Exceptional management Deep industry experience across all functional areas team with a proven track record of success Numerous successful operating initiatives have resulted in meaningful efficiencies 9
1. Executive summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Financial overview Revenue ($m) Adj. EBITDA ($m) % growth: % margin: (4.0%) (13.3%) (2.9%) (0.7%) 0.5% 8.8% 8.8% 9.8% 10.7% 10.7% $1,529.0’17-’20 CAGR:’17-’20 CAGR: (1.1%) 5.7% $134.6 $137.1 $137.8 $1,326.1 $1,287.4 $1,277.8 $1,284.1 $125.7 $116.8 2016A 2017E 2018E 2019E 2020E 2016A 2017E 2018E 2019E 2020E Capex ($m) Adj. EBITDA less capex ($m) % of sales: % conversion: 2.5% 1.8% 1.2% 1.6% 1.6% 71.4% 79.3% 88.1% 84.0% 85.5% $38.8’17-’20 CAGR:’17-’20 CAGR: 8.3% (6.2%) $24.2 $110.7 $117.1 $117.8 $20.0 $20.0 $95.8 $92.6 $15.0 2016A 2017E 2018E 2019E 2020E 2016A 2017E 2018E 2019E 2020E 10
1. Executive summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Preliminary cash forecast Liquidity ($ in millions)1 Includes $8m net increase in liquidity from $16.2m interest pmt. (1L) $10.2m interest pmt. (2L) $100.0 QP sale (~$37.5m sale proceeds net of ~$27m Borrowing Base reduction2,3) $90.0 $80.0 $70.0 $63 $64 $58 $60 $59 $60.0 $54 $55 $55 $54 $53 $51 $52 $50 $48 $49 $50.0 $44 $45 $43 $46 $40.0 $30.0 $20.0 $3.1m interest pmt. (6.0% Unsecured $10.0 Notes) — 11/26 12/3 12/10 12/17 12/24 12/31 1/7 1/14 1/21 1/28 2/4 2/11 2/18 2/25 3/4 3/11 3/18 3/25 4/1 Base Case Notes 1 Liquidity excludes cost of recapitalization process 11
Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 2 Industry dynamics
2. Industry dynamics Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Envelope industry overview While direct mail advertising is expected to resume its growth, it is offset by declining transactional volume US Envelope Market Fundamentals According to a report that was published by the Direct Marketing Organization in 2015, direct mail response rates are significantly higher (at 3.7%) than mobile, paid search, email and internet display response rates (all under 0.2%) Direct mail advertising offers targeting based on geographic location, socioeconomic status and purchasing history Generic transactional envelope market falling faster than direct mail market Envelope industry sales ($bn) and unit prices per thousand envelopes Cenveo Envelope vs. Industry (2014A 2016A) ($ in 000’s) $3,000 $ 4.0 $3.7 $3.6 1.9% $2,650 $2,600 (20.8)% $ 3.0 $2.9 $2.9 $2.8 Sales ($Bn) $2,100 $2.7 $2.6 $2.6 $2.7’07-’16 CAGR: $2,000 (6.2%) 3.3% (27.8)% $2.1 $1,823 $1,883 $ 2.0 $19.6 $20.3 $19.0 $1,359 $17.4 $17.4 $17.3 $17.1 $16.9 $17.5 $14.3 $1,000 $/unit $ 1.0’07-’16 CAGR: (3.2%) (1.3)% 1 (3.4)% $777 $767 $7411 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2014 2015 2016 Envelope industry sales $ / 1000 units Cenveo Other Source Envelope Manufacturing Association (EMA) Note 1 Excludes Quality Park business revenue (pro forma for divestiture) 13
2. Industry dynamics Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Labels industry overview Industry growing modestly and facing ongoing consolidation US Labels Market Fundamentals 2015A US Labels Demand by Category $15+ billion U.S. Labels industry Second largest national market after China Other Expected to grow at ~2.5% per annum through 2020 20% Market is driven by the food, beverage and consumer product packaging industries Pressure Sensitive Overall outlook of the labels industry impacted by: Cut & Stack 49% 31% Health of the overall economy and manufacturing activity across various end markets Demographic trends Consumer income levels and spending patterns Total Market: $15+ billion Increased focus on brand recognition driving a focus on innovative labeling Labels Growth by Category Environmental and regulatory considerations Pressure sensitive labels have been the dominant category in 2015A $7.5 $4.7 $3.0 the U.S. given their flexibility in terms of performance and Market design, both of which are integral traits to end market users as Size ($bn): 4.0% they focus on shelf appeal 3.4% 3.0% Market is undergoing consolidation as participants look to broaden product offerings and increase market share 2.2% Consolidation is expected to persist, driven by customer preference for vendors that can serve as aone-stop shop 0.6% addressing all labeling needs (0.2%) Pressure Sensitive Cut & Stack Other Source 2017 Freedonia Labels Report 2010A-2015A 2015A-2020E 14
2. Industry dynamics Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Commercial print industry overview Highly fragmented and competitive industry Industry overview1 Overview of headwinds Macro headwinds U.S. commercial Companies in the 2016 U.S. print print industry U.S. commercial advertising spend Retail Consumer Disposable annual revenue print industry Economy environment confidence income $85 $39 Industry headwinds 49,000 billion billion Online Mobile Electronic United States content devices marketing Postal Service Concentration of revenue Industry capacity utilization3 $85 billion Total industry revenue 83% Avg. 1972- 50% 2008 65% 400 largest printing companies total annual revenue2 2017 59% 15% 2009 4 largest printing companies total annual revenue1 Sources 1 November 2016 Printing in the U.S. IBISWorld Industry Report 2 December 2016 Printing Impressions PI400 3 2017 Federal Reserve Industrial Production and Capacity Utilization [G17] Reports; includes printing of newspapers, magazines, books, labels, stationary, etc. as well as data imaging, platemaking and bookbinding 15
2. Industry dynamics Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Resilient platform despite industry headwinds Positioned for enhanced growth and profitability Challenging market conditions Increased shift from printed products to electronic alternatives Emergence of new technologies in the market that have made pricing competition more prevalent Strategically-positioned for future share gains, top Certain key customers temporarily reducing line growth and margin enhancement investment in customer acquisitions / new product promotions Investment in digital printing assets enables greater production flexibility and provides customers with Heightened competition across labels market higher degree of customization Deepening of content services offering strengthens competitive advantage over pure play commercial printing peers Mitigating actions Renewed focus on higher margin labels opportunities Implementation of numerous operating initiatives in order to improve profitability Leveraging scale and market positioning to continue to grow both direct mail and transactional envelope Expansion of digital print capabilities share Enhancement of electronic-based content offeringRoll-out of Kadena 2.0 platform fueling new Continued strength in procurement and supply chain customer acquisition and shifting customer focus to management in order to negotiate the best pricing value-added services versus price and terms Exit of low margin business in Long Run Labels Strategic equipment acquisitions will continue to Bolstering high-margin,e-commerce presence improve efficiency and yielding cost savings through Lightning Labels brand Continuing to provide Direct Mail customers with differentiated, high-impact product offering Facility consolidations leading to streamlined operations 16
Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 3 Disciplined cost focus
3. Disciplined cost focus Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Historical cost savings Cenveo management has a proven track record of driving efficiency through cost cutting Historical cost savings Historical facilities1 and employee count Management has taken significant cost-cutting actions since 2005 100 Ongoing cost savings programs implemented and achieved over 84 $250m of profitability improvement over the last 10 years 80 78 76 73 70 71 2017 cost-savings initiative with $18.1m realizedyear-to-date 67 66 10,700 63 60 10,000 9,700 54 8,700 8,700 8,000 46 8,400 7,600 8,700 46 44 Management made 16 acquisitions from 2006 to 2013 40 8,100 Proven track record of extracting savings from those acquisitions 7,300 7,300 6,600 and achieving synergies as evidenced by facility consolidations 20 and headcount reductions Operational synergies achieved through elimination of duplicate— SG&A, consolidation of suppliers, reduction of waste, 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 minimization of working capital requirements, and other # of Manufacturing Facilities # of Employees operational efficiencies Cumulative announced facility consolidations1 70 60 58 58 49 49 50 40 42 40 35 32 30 23 24 20 16 10 6 — Source Company filings 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Note 1 Includes warehouses, operating plants and distribution centers 18
3. Disciplined cost focus Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 2017E profitability improvement plan implementation (cont’d) On February 22, 2017, Cenveo announced theirtwo-year, $50m Profitability Improvement Plan Initiated in late Q4 2016 targeting: Lower fixed cost infrastructure and SG&A costs Reduction in back office headcount Further streamlining of the Company’s geographic footprint Originally expected to yield $50m of combined cost savings and margin improvement $25m expected to be realized in FY 2017 In light of confirmation from the third party consulting analyses, on August 2, 2017, the Company revised upwards their cost cutting expectations by $15m, to $65m $29m of savings now expected to be realized in FY 2017 Company noted that the majority of the currently implemented cost savings initiatives will materialize in FY 2018 Cost savings forecast ($ in millions) $75 $11.0 $65.1 $60 $54.1 $10.0 $45 $15.0 $30 $11.0 $29.1 $18.1 $15 $0 YTD 2017 Q4 2017 2017 Realized 2017 Actions 2018 Actions 2018 Realized 2018 Actions Full Plan Realized Forecast Run Rate Run Rate Realization 19
Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 4 Envelope overview
4. Envelope overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Envelope at a glance Cenveo’s Envelope Group is the world’s largest envelope manufacturer, producing one out of every four envelopes in the United States Business description Key financial highlights ($m)2 Cenveo’s Envelope Group is the largest envelope producer in North America with over 50 billion envelopes produced annually $735.1 It currently holds ~40% of the $2.1 billion overall market $640.8 $627.0 $624.7 $631.0 Cenveo’s Envelope facilities meet an assortment of customer demands, from short to long runs, simple to more sophisticated clientele graphics Cenveo’s Envelope business is divided between Direct Mail, Transactional and Wholesale1 8.8% 8.1% 7.8% 9.1% 9.2% Direct Mail: Recognized as the industry’s best source for direct mail envelopes 2016A 2017E 2018E 2019E 2020E 6 facilities encompassing 878k square feet Revenue Adj. EBITDA Transactional Mail: Provides envelopes and mailing services for transactional mail such as FCF3: statement, billing and remittance envelopes $53.5m $48.4m $45.5m $52.2m $52.9m 6 facilities encompassing 839k square feet Wholesale Key end markets (2016A sales) National footprint and distribution for stock envelope products 2 facilities encompassing 728k square feet By Channel By Industry Supplies a diversified, blue-chip customer base Serves a broad variety of end markets, including: Financial services, telecom, healthcare, insurance, publishing and more Wholesale Wholesale 19% 19% Key focus areas of the business include the continuation of regional Transactional Direct Mail consolidation efforts and expansion of Direct Mail capabilities 35% 38% Over 2,600 employees across North America Statement Billing Direct Mail 38% 46% Government Notes 2% 1 Cenveo’s segments are based on classification of plants Packaging 2 Revenue is inclusive of corporate eliminations and Adj. EBITDA is inclusive of allocated corporate costs 3% 3 Free cash flow defined as Adj. EBITDA less capex 21
4. Envelope overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Key competitive advantages A unique asset with a scalable platform and differentiated offering Leading envelope The largest envelope manufacturer in North America (~5x larger than next competitor) manufacturer with a Cenveo is positioned to produce, warehouse and distribute closer to customers allowing quicker delivery and reduced diversified product portfolio transportation and mailing costs One of the largest providers Cenveo is the leading Direct Mail service provider and holds ~40% market share in the overall Direct Mail envelope market in the Direct Mail segment as Cenveo’s cutting-edge design technology, lean manufacturing processes and the industry’s highest-quality printing capability well as in wholesale and allows the Company to maximize clients’ ROI on their direct marketing efforts as well as minimize costs associated with transactional mail transactional mail Long-term customer Reputable customer base representing top companies in their respective industries relationships across various Diversified exposure across attractiveend-markets including healthcare, financial, telecom and insuranceend-markets Long-standing relationships averaging over 15+ years for its top 25 customers Strong profitability and cash Adj. EBITDA margins expected to increase by 100bps over the next 2 years resulting from implementation of operating efficiencies generation profile Highly attractiverun-rate Adj. EBITDA less capex conversion of ~94% Strategically-built platform that can be leveraged for 14 strategically-located facilities across the US, providing highly customized solutions in a timely manner ongoing industry One of the few large platforms in the industry, coupled with a flexible manufacturing infrastructure with capacity to grow consolidation Exceptional management Deep industry experience across all functional areas team with a proven track record of success Driven numerous successful operating initiatives resulting in meaningful efficiencies 22
4. Envelope overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Financial overview Revenue ($m)1 Adj. EBITDA ($m)2 % growth: % margin: (3.5%) (12.8%) (2.2%) (0.4%) 1.0% 8.8% 8.1% 7.8% 9.1% 9.2% $735.1’17-’20 CAGR:’17-’20 CAGR: (0.5%) 3.8% $64.4 $640.8 $51.7 $49.2 $57.1 $57.8 $627.0 $624.7 $631.0 2016A 2017E 2018E 2019E 2020E 2016A 2017E 2018E 2019E 2020E Capex ($m) Adj. EBITDA less capex ($m) % of sales: % conversion: 1.5% 0.5% 0.6% 0.8% 0.8% 83.2% 93.6% 92.5% 91.5% 91.6% $10.8’17-’20 CAGR:’17-’20 CAGR: 13.5% 3.0% $53.5 $48.4 $52.2 $52.9 $4.9 $4.9 $45.5 $3.3 $3.7 2016A 2017E 2018E 2019E 2020E 2016A 2017E 2018E 2019E 2020E Notes 1 Revenue is inclusive of corporate eliminations 2 Adj. EBITDA is inclusive of allocated corporate costs 23
4. Envelope overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Historical and forecasted P&L Summary1’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Segment revenue $741.3 $646.1 $633.4 $631.2 $637.5 (0.4%) % growth (3.4%) (12.8%) (2.0%) (0.4%) 1.0% Operating income $61.2 $52.0 $50.7 $58.7 $61.1 5.5% % margin 8.3% 8.0% 8.0% 9.3% 9.6% D&A & other adjustments 16.1 14.9 14.5 12.9 11.3 Segment adj. EBITDA $77.4 $66.8 $65.2 $71.7 $72.4 2.7% % margin 10.4% 10.3% 10.3% 11.4% 11.4% Corporate adjustments (13.0) (15.1) (16.0) (14.6) (14.6) Corporate adj. EBITDA $64.4 $51.7 $49.2 $57.1 $57.8 3.8% % margin 8.8% 8.1% 7.8% 9.1% 9.2% Summary cash flow conversion’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Corporate adj. EBITDA $64.4 $51.7 $49.2 $57.1 $57.8 3.8% Less: Capex2 (10.8) (3.3) (3.7) (4.9) (4.9) Free cash flow3 $53.5 $48.4 $45.5 $52.2 $52.9 3.0% % conversion 83.2% 93.6% 92.5% 91.5% 91.6% Notes 1 Revenue excludes postage reclassification 2 Projected capex inclusive of Quality Park proceeds 3 Free cash flow defined as Adj. EBITDA less capex 24
Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 5 Labels overview
5. Labels overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Labels division at a glance Cenveo’s Labels division is a market leader in several key products Business description Key financial highlights ($m)1 $301.4 Cenveo’s Labels division is one of the top suppliers of printed labels to North America’s leading pharmaceutical, food, beverage and consumer products companies Cenveo’s Labels business operates over 2 key segments $266.4 $256.8 Custom Labels (Short Run Labels): $252.2 $252.2 Large scale supplier of labels to distributor market Stronge-commerce platform 14.9% 19.5% 20.7% 20.7% 12.9% Offers a global footprint of bumper stickers, small count labels and other products 2016A 2017E 2018E 2019E 2020E 4 facilities in Denver, CO, Longwood, FL, New Albany, IN, and Omaha, NE encompassing 308k square feet FCF2: Revenue Adj. EBITDA Margin Long Run Labels & POS: $27.6m $34.2m $47.6m $48.8m $48.8m Provides prescription drug labels, overnight shipping, deli-shelf labels, roll receipts and other products Key end markets (2016A sales) 3 facilities in Jefferson City, TN, Vernon, CA, and Joplin, MO encompassing 442k square feet Custom Labels3 Long Run Labels & POS Supplies to a diversified, blue-chip customer base 2% 5% Serves a broad variety of end markets, including: 2%3% Pharmaceutical, food, beverage, consumer products and more 28% Key performance drivers include the purchase of new equipment to drive 16% 38% production efficiencies,E-Commerce investments to improve the division’s sales channel and exiting coating operation to focus on best performing segments / products 17% 72% Over 850 employees across North America 3% 3% 4% 7% Resale Retail Food & Beverage Logistics Retail Groceries Notes Government Travel 1 Revenue is inclusive of corporate eliminations and Adj. EBITDA is inclusive of allocated stranded corporate costs Healthcare Logistics Restaurant 2 Free cash flow defined as Adj. EBITDA less capex Other Other 3 Breakdown of top 30 customers by end markets 26
5. Labels overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408Sub-segment overview Selected facilities Custom Labels Long Run Labels Jefferson City, Location New Albany, IN Denver, CO Longwood, FL Joplin, MO Vernon, CA TN Short run based Digital e- Traditional POS and long run Overview Pharmacy labels POS digital commerce midsized labels Headcount 443 36 22 191 71 16 Facility Size (ft2) 165k 13k 12k 268k 70k 103k Owned / Leased Owned Leased Leased Owned Owned Leased Short run custom Prime labels Direct thermal labels through e- Short to mid run Main product Short run custom commerce engine, custom labels Tickets, tags and Dual web combos labels labels servicing POS rolls Direct & thermal Bond paper offering reseller channel primarily serving servicing food Direct & thermal transfers Carbonless micro-business services industry market transfers Receipt rolls Flexo Digital Flexo Key capabilities Digital Flexo Flexo POS Cold foil inline Offset UV 27
5. Labels overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Key competitive advantages A unique Labels asset with a scalable platform and differentiated offering Label converter with seven production facilities and distribution centers throughout North America. Unparalleled capabilities Serves direct, distributor ande-commerce channels Over 125 label presses with multiple formats including: flexo, UV flexo, web offset, screen printing, digital and variable image Manufacturing options capabilities Platform provides economic options for short, medium and long runs Unique distributor-focused business with high profit margins and growth opportunities Distributor channels Serves over 20,000 unique distributors and resellers each year Aggressively moving towardse-commerce marketplace for traditional label products with a higher-than-normal profitE-commerce selling margin B2Be-commerce platform Portfolio includes a fast growing and high margin B2Be-commerce operation with quick turn times and small high quality runs Analytical excellence Proven analytical strength, demonstrated in pricing, manufacturing optimization and customer profitability 28
5. Labels overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Financial overview Revenue ($m)1 Adj. EBITDA ($m)2 % growth: % margin: (6.4%) (11.6%) (3.6%) (1.8%) 0.0% 12.9% 14.9% 19.5% 20.7% 20.7%’17-’20 CAGR: (1.8%)’17-’20 CAGR: 9.5% $301.4 $266.4 $256.8 $252.2 $252.2 $50.0 $52.1 $52.1 $38.7 $39.7 2016A 2017E 2018E 2019E 2020E 2016A 2017E 2018E 2019E 2020E Capex ($m) Adj. EBITDA less capex ($m) % of sales: % conversion: 3.7% 2.0% 0.9% 1.3% 1.3% 71.2% 86.2% 95.2% 93.8% 93.8%’17-’20 CAGR: $11.2’17-’20 CAGR: (16.1%) 12.6% $47.6 $48.8 $48.8 $5.5 $34.2 $3.2 $3.2 $27.6 $2.4 2016A 2017E 2018E 2019E 2020E 2016A 2017E 2018E 2019E 2020E Notes 1 Revenue is inclusive of corporate eliminations 2 Adj. EBITDA is inclusive of allocated stranded corporate costs 29
5. Labels overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Historical and forecasted P&L Summary’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Segment revenue $305.6 $270.1 $261.2 $256.6 $256.6 (1.7%) % growth (7.1%) (11.6%) (3.3%) (1.8%) 0.0% Operating income $36.5 $39.5 $51.3 $53.7 $54.7 11.4% % margin 11.9% 14.6% 19.6% 20.9% 21.3% D&A & other adjustments 7.8 6.6 5.5 4.6 3.6 Segment adj. EBITDA $44.3 $46.1 $56.8 $58.3 $58.3 8.1% % margin 14.5% 17.1% 21.7% 22.7% 22.7% Corporate adjustments (5.5) (6.4) (6.8) (6.2) (6.2) Corporate adj. EBITDA $38.7 $39.7 $50.0 $52.1 $52.1 9.5% % margin 12.9% 14.9% 19.5% 20.7% 20.7% Summary cash flow conversion’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Corporate adj. EBITDA $38.7 $39.7 $50.0 $52.1 $52.1 9.5% Less: Capex (11.2) (5.5) (2.4) (3.2) (3.2) Free cash flow1 $27.6 $34.2 $47.6 $48.8 $48.8 12.6% % conversion 71.2% 86.2% 95.2% 93.8% 93.8% Note 1 Free cash flow defined as Adj. EBITDA less capex 30
Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 6 Print overview
6. Print overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Cenveo Print at a glance Cenveo’s Print division is one of the leading commercial printers in North America with a comprehensive offering of high-color print and content solutions Business description Key financial highlights ($m) the fourth-largest printer in the US, offering a variety of $492.6 commercial and digital printing solutions ranging from book and catalog printing $418.8 $403.6 $400.9 $400.9 to binding, warehousing and fulfillment Cenveo’s Print business is divided between Commercial Print, Publisher Services Group (PSG) and Content 7.0% 7.0% Commercial Print: 6.4% 6.6% Offers a global footprint ofsheet-fed, large format, digital, full web and 6.1% double web printing facilities and distribution centers 6 locations across the United States 2016A 2017E 2018E 2019E 2020E Publishing Services Group: 2 Revenue ($m) Adj. EBITDA Margin Offers a regional footprint to service the journal and specialty publication FCF : markets $20.5m $16.1m $21.2m $20.7m $20.7m 5 locations across the United States Content Key end markets (2016A sales) Provides content development, art, design,e-learning online services and production to some of the largest publishers in the world Commercial Print PSG Content 7 locations1 across the US, UK and India Supplies to a diversified, blue-chip customer base 12% 13% 7% Serves a broad variety of end markets, including: 6% 28% 9% 29% Financial, communications, travel and leisure, healthcare, retail, automotive, 8% education, publishing and more 14% 44% 49% Key focus areas of the business include the continuation of regional 11% consolidation efforts, investment in digital printing equipment and expansion of 22% 18% 13% 17% content and publisher services capabilities Employs over 2,800 people across North America, Europe and Asia Financial Publishing STM journals Communications Association Travel and leisure Education &E-learning Notes Healthcare Education 1 Only includes standalone Content locations Retail Graphic novel Other (B2B magazines, 2 Free cash flow defined as Adj. EBITDA less capex Automotive / power sports Healthcare Corporate, Conversion) 4 3 Other Other PSG CP end end markets markets include include Consumer travel & leisure Products, and Government, other Education,Non-profit, and others Other 3 Other 4 32
6. Print overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Key competitive advantages A unique print asset with a scalable platform and differentiated offering 4th largest commercial printer in North America Leading commercial print player with differentiated Unique commercial assets that provide flexibility in printing methods(sheet-fed, large format, digital, full web and double web) and color complexity (4 vs. 6+ color options) capabilitiesShort-run, high color focus provides combination of speed and quality to customers Unparalleled publisher Largest provider of content management and production services to scientific, technical and medical (STM) publishers services / content 125 years of providing the most comprehensive outsourcing alternatives to publishers worldwide management capabilities Superior capabilities in design and content, editorial and production management Strategically-built platform 18 strategically-located facilities across the US and abroad, providing highly customized solutions in a timely manner that can be leveraged for Highly fragmented $85bn U.S. printing market, mostly comprised of regional players, with several actionable M&A targets ongoing industry consolidation One of the few large platforms in the industry, coupled with a flexible manufacturing infrastructure with capacity to grow Long-term customer Marquee customer base representing several of the top companies in their respective industries relationships across various Diversified exposure across attractiveend-markets including healthcare, financial, automotive and consumer electronicsend-markets Long-standing relationships averaging over 12 years for its top 25 customers Adj. EBITDA margins expected to increase to ~7% resulting from the implementation of operating efficiencies Strong profitability and cash Highly attractiverun-rate Adj. EBITDA less capex conversion of ~63% generation profile Continued opportunity to consolidate East coast platform into fewer and more productive centers Exceptional management Deep industry experience across all functional areas team with a proven track record of success Driven numerous successful operating initiatives resulting in meaningful efficiencies Source November 2016 Printing in the U.S. IBISWorld Industry Report 33
6. Print overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Kadena 2.0 Kadena offers a unique value proposition to customers Description Kadena 2.0 is a cloud-based platform focused on the performance of print and mail communications, fulfillment and supply chain management for mid to large sized enterprises Provides small and medium sized businesses with the tools necessary to design their own products Analytics platform allows customers to track the effectiveness of their mail campaign Sourcing platform allows Cenveo to source from third parties and provide independent third party pricing Provides a repository of previous print jobs, resulting in stickier customer relationships Key modules and capabilitiesK-List List processor for optimizing Direct Mail campaign performanceK-Compose Innovative templating application for design personalizationK-Proof Powerful virtual proofing tool for shortening review cyclesK-DAM Robust digital asset manager for flexible control of content assetsK-Source An advanced marketplace sourcing environment 34
6. Print overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Financial overview Revenue ($m) Adj. EBITDA1 ($m) % growth: % margin: (3.4%) (15.0%) (3.6%) (0.7%) 0.0% 6.4 % 6.1% 6.6% 7.0% 7.0%’17-’20 CAGR:’17-’20 CAGR: $492.6 (1.1%) 3.2% $418.8 $403.6 $400.9 $400.9 $31.5 $27.9 $27.9 $25.4 $26.6 2016A 2017E 2018E 2019E 2020E 2016A 2017E 2018E 2019E 2020E Capex ($m) Adj. EBITDA less capex1 ($m) % of sales: % conversion: 2.2% 2.2% 1.3% 1.8% 1.8% 65.2% 63.3% 79.8% 74.2% 74.2%’17-’20 CAGR:’17-’20 CAGR: $11.0 (8.3%) 8.9% $9.3 $20.5 $21.2 $20.7 $20.7 $7.2 $7.2 $5.4 $16.1 2016A 2017E 2018E 2019E 2020E 2016A 2017E 2018E 2019E 2020E Note 1 Based on corporate Adj. EBITDA 35
6. Print overview Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Historical and forecasted P&L / cash flow Summary1’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Segment revenue $511.1 $434.6 $422.7 $420.1 $420.1 (1.1%) % growth (3.5%) (15.0%) (2.7%) (0.6%) - Operating income $22.6 $18.1 $21.8 $23.0 $24.5 10.5% % margin 4.4% 4.2% 5.2% 5.5% 5.8% D&A and other adj. 18.0 17.9 15.9 15.1 13.7 Segment adj. EBITDA $40.6 $36.0 $37.8 $38.1 $38.1 2.0% % margin 8.0% 8.3% 8.9% 9.1% 9.1% Corporate adjustments (9.1) (10.6) (11.2) (10.2) (10.2) Corporate adj. EBITDA $31.5 $25.4 $26.6 $27.9 $27.9 3.2% % margin 6.4% 6.1% 6.6% 7.0% 7.0% Summary cash flow conversion’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Corporate adj. EBITDA $31.5 $25.4 $26.6 $27.9 $27.9 3.2% Less: Capex (11.0) (9.3) (5.4) (7.2) (7.2) Free cash flow2 $20.5 $16.1 $21.2 $20.7 $20.7 8.9% % conversion 65% 63% 80% 74% 74% Notes 1 Revenue excludes postage reclassification 2 Free cash flow defined as Adj. EBITDA less capex 36
Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 7 Corporate financials and consolidated summary
7. Corporate financials and consolidated summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Historical and forecasted corporate P&L Summary1’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Operating income ($27.2) ($31.5) ($34.3) ($30.3) ($29.7) (1.9%) % margin n.a. n.a. n.a. n.a. n.a. D&A & other adjustments (0.5) (0.7) 0.2 (0.7) (1.3) Segment adj. EBITDA ($27.6) ($32.1) ($34.0) ($31.0) ($31.0) (1.2%) Envelope 13.0 15.1 16.0 14.6 14.6 Labels 5.5 6.4 6.8 6.2 6.2 Print 9.1 10.6 11.2 10.2 10.2 Corporate adj. EBITDA % margin n.a. n.a. n.a. n.a. n.a. Summary cash flow conversion’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Adj. EBITDA ($27.6) ($32.1) ($34.0) ($31.0) ($31.0) (1.2%) Less: Capex (5.9) (6.1) (3.5) (4.7) (4.7) Free cash flow2 (33.5) (38.2) (37.6) (35.7) (35.7) (2.2%) % conversion n.a. n.a. n.a. n.a. n.a. Notes 1 Revenue excludes postage reclassification 2 Free cash flow defined as Adj. EBITDA less capex 38
7. Corporate financials and consolidated summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Historical and forecasted P&L and cash flows Summary1’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Revenue $1,529.0 $1,326.1 $1,287.4 $1,277.8 $1,284.1 (1.1%) % growth (4.0%) (13.3%) (2.9%) (0.7%) 0.5% Gross profit $269.6 $239.3 $244.9 $254.4 $259.5 2.7% % margin 36.4% 37.0% 38.7% 40.3% 40.7% SG&A (174.8) (159.9) (154.5) (148.3) (147.9) Operating income $94.7 $79.3 $90.4 $106.1 $111.5 12.0% % margin 6.2% 6.0% 7.0% 8.3% 8.7% D&A & other adj. 39.9 37.5 35.3 31.0 26.3 Adj. EBITDA $134.6 $116.8 $125.7 $137.1 $137.8 5.7% % margin 8.8% 8.8% 9.8% 10.7% 10.7% Cash flow summary’17-‘20 $m 2016A 2017E 2018E 2019E 2020E CAGR Adj. EBITDA $134.6 $116.8 $125.7 $137.06 $137.78 5.7% Less: Capex (38.8) (24.2) (15.0) (20.0) (20.0) Less: Change in NWC (5.1) (15.5) (1.2) 0.5 3.0 Free cash flow $90.7 $77.1 $109.5 $117.5 $120.8 16.1% % conversion 67.4% 66.0% 87.1% 85.8% 87.7% Note 1 Revenue excludes postage reclassification 39
7. Corporate financials and consolidated summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Adj. EBITDA bridge 2017E—2019E Adj. EBITDA bridge ($ in millions) $140 $14.1 $137.1 $135 $23.5 $130 $125.7 $125 ($5.8) ($2.8) $120 $116.8 $115 $110 ($8.7) $105 $100 Company FY 2017E Sales Contribution 2017 Cost Savings Incentive Company FY 2018E Sales Contribution 2018 Cost Savings Company FY 2019E Adj. EBITDA Compensation Adj. EBITDA Adj. EBITDA 40
7. Corporate financials and consolidated summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Consolidated historical and forecasted balance sheet Summary1 $m 2016A 2017E 2018E 2019E 2020E Current assets: Cash and cash equivalents $5.5 $5.0 $5.0 $5.0 $5.0 Accounts receivable, net 197.0 171.8 170.6 169.4 165.6 Inventories 80.8 87.2 86.1 84.9 83.2 Prepaid and other current assets 41.1 35.3 36.8 36.5 36.5 Total current assets $324.4 $299.3 $298.5 $295.8 $290.3 Property, plant and equipment, net $198.9 $183.9 $160.3 $146.1 $136.5 Goodwill 175.2 175.5 175.5 175.5 175.5 Other intangible assets, net 119.8 114.7 109.8 104.8 99.9 Other assets, net 21.9 21.7 21.7 21.7 21.7 Total assets $840.1 $795.1 $765.7 $743.8 $723.8 Current liabities: Current maturities of long-term debt $31.7 $6.9 $6.9 $6.9 $6.9 Accounts payable 166.0 136.6 134.9 133.1 130.3 Accrued compensation and related liabilities 24.1 24.1 24.1 24.1 24.1 Other current liabilities 66.9 56.4 56.0 55.5 55.8 Total current liabilities $288.8 $224.0 $221.9 $219.7 $217.2 Long-term debt (ex OID) $1,022.1 $1,015.6 $990.0 $955.3 $915.4 Other liabilities 475.8 476.7 476.7 476.7 476.7 Deferred Income Taxes 42.6 36.4 36.4 36.4 36.4 Total liabilities $1,794.2 $1,724.4 $1,703.5 $1,672.2 $1,632.9 Total shareholders’ deficit (954.1) (929.3) (937.8) (928.4) (909.1) Total liabilities and shareholders’ deficit $840.1 $795.1 $765.7 $743.8 $723.8 Note 1 Assumes maturing debt refinanced at same interest rates 41
7. Corporate financials and consolidated summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Consolidated capex and working capital detail Capex detail Commentary $m 2015A 2016A 2017E 2018E 2019E 2020E Total recurring capex $20.4 $35.8 $21.4 $13.5 $17.0 $18.5 Projections assume lower level % of sales 1.3% 2.3% 1.6% 1.0% 1.3% 1.4% of capex in 2018, as cash Recurring capex 20.4 35.8 21.4 13.5 17.0 18.5 restructuring expense will Other capex 3.8 3.0 2.8 1.5 3.0 1.5 increase going forward Total capex $24.3 $38.8 $24.2 $15.0 $20.0 $20.0 % of sales 1.5% 2.5% 1.8% 1.2% 1.6% 1.6% Continued focus on inventory andjust-in-time delivery of materials Net working capital detail $m 2015A 2016A 2017E 2018E 2019E 2020E Accounts receivable $209.6 $197.0 $171.8 $170.6 $169.4 $165.6 Inventory 91.3 80.8 87.2 86.1 84.9 83.2 Prepaids 46.5 41.1 35.3 36.8 36.5 36.5 Accounts payable 186.9 166.0 136.6 134.9 133.1 130.3 Accruals 31.3 24.1 24.1 24.1 24.1 24.1 Other current liabilities 72.5 66.9 56.4 56.0 55.5 55.8 Net working capital $56.7 $61.8 $77.3 $78.5 $78.0 $75.0 Change in NWC n.a. 5.1 15.5 1.2 (0.5) (3.0) 42
7. Corporate financials and consolidated summary Strictly private and confidential Subject to Confidentiality Agreement Subject to FRE 408 Cenveo legal organization chart1 Cenveo, Inc. (Colorado) Cenveo Corporation CNMW Investments, Inc. (Delaware) Cenveo Services, Colorhouse China, Envelope Product CDMS Lightning Labels, Port City Press, Inc. LLC Inc. Group, LLC Management, LLC LLC 50% Cadmus Printing Cadmus Group, Inc. International Cadmus Marketing Madison / Graham Cenveo Omemee 50% Discount Labels, Nashua Corporation Cenveo CEM, LLC RX JV Holdings, Inc. Holdings, Inc. Group, Inc. ColorGraphics, Inc. LLC LLC Cadmus Financial 1% 50% Distribution, Inc. Cadmus Madison / Graham Nova Scotia Cadmus Marketing, Nashua FSC Knowledgeworks ColorGraphics Company Cenveo CEM, Inc. Inc. Limited International Ltd. Interstate Services, (Nova Scotia) Expert Graphics, Inc. (Mauritius) Inc. CRX JV, LLC4 Commercial Cadmus/O’Keefe Envelope Marketing, Inc. Nashua P.R., Inc. Manufacturing Co., Garamond/Pridemark Cenveo Publisher Inc. CRX Holdings, Inc. Press, Inc. Services India Limited (India) Cadmus Journal Old TSI, Inc.3 Nashua RX Technology Services, Inc. International, Inc. Corp. Cadmus Delaware, Glyph International Inc.2 UK Limited Issuer of all Company debt (UK) Guarantor Cadmus UK, Inc.Non-Guarantor Notes Significant operations 1 Does not include Vaughan Printers (inactive) or VSUB Holding Company (subsidiary of Vaughan) 2 Formerly Dynamic Diagrams 100% unless otherwise 3 Formerly Three Score Inc. specified 4 Cenveo Corporation owns additional 49% of CRX JV, LLC 43