Table of Contents

Exhibit 99.2

Table of Contents

Forward-Looking Statements

Certain 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, 2011, 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.

Page 2

Table of Contents

Contents

Page 3

Table of Contents

MWV Overview

MWV has successfully transformed into a market-focused global packaging company with a profitable growth-driven business model.

MWV is building on its successful transformation by continuing to:

Underpinning MWV’s strategy is a business model based on the company’s economic profit discipline that continuously evaluates all product lines, facilities and customers to ensure they contribute to economic profit growth. As a result, MWV achieved year-over-year improvement in operating income in 2011 as measured by adjusted Earnings Before Interest and Taxes (adjusted EBIT) as well as by higher operating profitability as measured by adjusted EBIT margin.

Page 4

Table of Contents

Below is the company’s growth model, which at its core is about (1) driving deeper customer relationships by fully leveraging its advantaged platform; (2) developing insights-based innovations that solve unmet needs for brand owners, retailers and consumers; and (3) building leading positions in the most attractive growth geographies.

Page 5

Table of Contents

New Packaging Segmentation Rationale

MWV is moving to a new reporting framework that directly reflects the company’s end market focus, as well as how the company is now managed by its chief operating decision makers. The new segments (below) also provide direct line-of-sight to the company’s strategies for generating profitable growth in the large and growing global packaging end markets of food, beverage, tobacco, home and garden, beauty and personal care, healthcare, and industrial packaging in Brazil and other select developing markets.

MWV is leveraging its unique packaging platform to drive growth above the core packaging growth rates in each of its targeted end markets. The company is confident it will deliver on this goal because of the value it generates for many of the world’s largest and best-known consumer packaged goods (CPG) companies through:

Following are in-depth segment descriptions as well as key background information that MWV believes will help investors evaluate the current and future performance of its global packaging businesses.

Page 6

Table of Contents

Food & Beverage

Business Profile

The Food & Beverage segment produces packaging materials, and designs and produces packaging solutions primarily for the global food, food service, beverage, dairy and tobacco end markets, as well as paperboard for commercial printing.

For the global food market, the segment develops and produces materials and innovative solutions that are used to package frozen food, dry goods, ready-to-eat meals, hot and cold drinks, and various shelf-stable dairy products. The segment also develops and produces differentiated dispensing solutions for many well-recognized food brands.

For the global beverage market, the segment has a fully integrated business model, including high-performance paperboard, carton design and converting operations, as well as beverage packaging machinery. The segment works with most of the world’s largest and best-known beverage brand owners.

For the global tobacco market, the segment produces high performance paperboard, and designs and produces cartons for the leading global tobacco brand owners.

The segment’s materials are manufactured in the United States and converted into solutions at plants located in North America, Europe and Asia.

Page 7

Table of Contents

Historical Business Performance

Key Drivers

Page 8

Table of Contents

Business Strategy & Targets

MWV expects to consistently grow the Food & Beverage segment above the projected real industry growth rate of 2 to 3% and deliver margin expansion from the combination of (1) volume growth and price/mix improvement from executing profitable growth strategies centered on commercial excellence, innovation and emerging markets, and (2) productivity gains from Operational Excellence programs.

Below are specific profitable growth strategies that are expected to drive results in the Food & Beverage segment. Acquisitions at the “bolt-on” level would be additive to the benefits from these growth strategies.

Commercial Excellence

Innovation

Emerging Markets

Page 9

Table of Contents

Home, Health & Beauty

Business Profile

The Home, Health & Beauty segment designs and produces packaging solutions for the global personal care, fragrance, home care, lawn and garden, prescription drug and healthcare end markets.

For the global beauty and personal care market, the segment produces pumps for fragrances, lotions, creams and soaps, flip-top and applicator closures for bath and body products and lotions, and paperboard and plastic packaging for hair and skin care products. The segment serves the leading beauty and personal care brands worldwide.

For the global home and garden market, the segment produces trigger sprayers for surface cleaners and fabric care, aerosol actuators for air fresheners, hose-end sprayers for lawn and garden maintenance, and spouted and applicator closures for a variety of other home and garden products. The segment serves the world’s leading branded consumer packaged goods companies, as well as recognized local producers in key emerging markets.

For the global healthcare market, the segment makes secondary packages designed to enhance patient adherence and child safety for prescription drugs, as well as healthcare dispensing systems, paperboard packaging and closures for over-the-counter and prescription drugs. The segment’s key customers include well-known mass retailers for whom it provides turnkey adherence-enhancing packaging for their popular discount generic drug programs, as well as leading branded prescription drug manufacturers.

Paperboard and plastic materials are converted into solutions at plants located in North America, South America, Europe and Asia.

Page 10

Table of Contents

Historical Business Performance

Key Drivers

Page 11

Table of Contents

Business Strategy & Targets

MWV expects to consistently grow the Home, Health & Beauty segment above the projected real industry growth rate of 3 to 4% and deliver substantial margin expansion from the combination of (1) volume growth and price/mix improvement from executing profitable growth strategies centered on commercial excellence, innovation and emerging markets, (2) leveraging investments made in innovation and commercial capabilities, and (3) productivity gains from Operational Excellence programs.

Below are specific profitable growth strategies that are expected to drive results in the Home, Health & Beauty segment. Acquisitions at the “bolt-on” level would be additive to the benefits from these growth strategies.

Commercial Excellence

Innovation

Emerging Markets

Page 12

Table of Contents

Industrial

Business Profile

The Industrial segment designs and produces corrugated packaging solutions, primarily for produce, meat, consumer products and bulk goods markets in Brazil. The integrated business, MWV Rigesa, includes forestlands, paperboard mill production and corrugated box plants. Products include packaging solutions that bring greater efficiency and cost savings to customers’ packaging lines and supply chains. The segment also includes MWV’s corrugated operation in India, which develops packaging solutions principally for domestic fresh produce growers.

MWV’s customers in this segment range from leading multinational and Brazilian companies in targeted end markets to a diverse spectrum of smaller customers.

In Brazil, the company manufactures high quality virgin kraftliner and recycle-based medium paperboards, and converts the material to corrugated packaging at five box plants across the country. In India, the company converts raw materials to corrugated packaging at its facility in Pune.

Page 13

Table of Contents

Historical Business Performance

Key Drivers

Page 14

Table of Contents

Business Strategy & Targets

MWV expects to grow the Industrial segment consistently above the projected real industry growth rate of 3 to 4% and deliver significant margin expansion and profit growth largely driven by the benefits that are expected to come from the company’s new linerboard machine at its Três Barras location, starting up in the third quarter of 2012. The expansion of the Brazilian business will:

Commercial Excellence

Innovation

Emerging Markets

Page 15

Table of Contents

Appendix

Page 16

Table of Contents

Use of Non-GAAP Measures

The presentation of income from continuing operations before income taxes shown on page four of this document, adjusted to exclude the effects of the items listed below and labeled as “Adjusted EBIT” and “Adjusted EBIT Margin”, is not meant to be considered in isolation or as a substitute for income from continuing operations before income taxes and its related margin determined in accordance with generally accepted accounting principles (“GAAP”). The company believes these non-GAAP measures provide investors, potential investors, securities analysts and others with useful information to evaluate the performance of the business, because these non-GAAP measures exclude items of income, gains and charges that management believes are not indicative of the ongoing operating results of the business. The effects of these items on income from continuing operations before income taxes determined in accordance with GAAP and presented as Adjusted EBIT on page four of this document are as follows:

In addition, the presentation of “EBITDA” and “EBITDA Margin” included in the segment discussions is not meant to be considered in isolation or as a substitute for segment EBIT and segment EBIT margin determined in accordance with GAAP.

Page 17