X0306 4 2020-06-01 0 0001712463 Ranpak Holdings Corp. PACK 0001464694 Blackstone Holdings I L.P. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE, 28TH FLOOR NEW YORK NY 10154 0 0 1 0 0001539563 BSOF Master Fund L.P. C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE, 28TH FLOOR NEW YORK NY 10154 0 0 1 0 0001728530 BSOF Master Fund II L.P. C/O THE BLACKSTONE GROUP L.P. 345 PARK AVENUE, 28TH FLOOR NEW YORK NY 10154 0 0 1 0 0001728529 Blackstone Strategic Opportunity Associates L.L.C. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001728531 Blackstone Alternative Solutions L.L.C. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001484870 Blackstone Holdings II L.P. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001464695 Blackstone Holdings I/II GP L.L.C. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001393818 Blackstone Group Inc 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001404071 Blackstone Group Management L.L.C. C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 0001070844 SCHWARZMAN STEPHEN A C/O THE BLACKSTONE GROUP INC. 345 PARK AVENUE NEW YORK NY 10154 0 0 1 0 Class A Common Stock 2020-06-01 4 S 0 280000 7.49 D 353500 I See Footnotes Class A Common Stock 2020-06-01 4 P 0 280000 7.49 A 4171500 I See Footnotes Class A Common Stock 2020-06-01 4 S 0 36750 6.8159 D 316750 I See Footnotes Class A Common Stock 2020-06-01 4 P 0 36750 6.8159 A 4208250 I See Footnotes Warrant (right to buy) 11.50 2020-06-01 4 S 0 140000 0.945 D Class A Common Stock 140000 218400 I See Footnotes Warrant (right to buy) 11.50 2020-06-01 4 P 0 140000 0.945 A Class A Common Stock 140000 2341600 I See Footnotes Warrant (right to buy) 11.50 2020-06-01 4 S 0 39200 1.3104 D Class A Common Stock 39200 179200 I See Footnotes Warrant (right to buy) 11.50 2020-06-01 4 P 0 39200 1.3104 A Class A Common Stock 39200 2380800 I See Footnotes Reflects an internal transfer between BSOF Master Fund L.P. ("BSOF") and BSOF Master Fund II L.P. ("BSOF II", and together with BSOF, the "BSOF Funds"). Reflects securities of Ranpak Holdings Corp. (the "Issuer") directly held by BSOF II. Reflects securities of the Issuer directly held by BSOF. Blackstone Strategic Opportunity Associates L.L.C. ("BSOA") is the general partner of each of the BSOF Funds. Blackstone Holdings II L.P. ("Holdings II") is the sole member of BSOA. Blackstone Alternative Solutions L.L.C. ("BAS") is the investment manager of each of the BSOF Funds. Blackstone Holdings I L.P. ("Holdings I") is the sole member of BAS. Blackstone Holdings I/II GP L.L.C. ("Holdings GP") is the general partner of each of Holdings I and Holdings II. The Blackstone Group Inc. ("Blackstone") is the sole member of Holdings GP. Blackstone Group Management L.L.C. ("Blackstone Management") is the sole holder of the Class C common stock of Blackstone. Blackstone Management is wholly owned by its senior managing directors and controlled by its founder, Stephen A. Schwarzman. (Continue from Footnote 4) Each such Reporting Person may be deemed to exercise voting and investment power over the securities of the Issuer directly held by the BSOF Funds directly or indirectly controlled by it or him and thus may be deemed to beneficially own such securities. Each of the Reporting Persons (other than BSOF I and BSOF II to the extent each directly holds securities of the Issuer), disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein, and this report shall not be deemed an admission that any of the Reporting Persons (other than BSOF I and BSOF II to the extent each directly holds securities of the Issuer) is the beneficial owner of such securities for purposes of Section 16 or any other purpose. The warrants to purchase shares of Class A Common Stock of the Issuer were exercisable 30 days after June 3, 2019 and will expire five years after June 3, 2019 or earlier upon redemption or liquidation. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person. BLACKSTONE HOLDINGS I L.P., By: Blackstone Holdings I/II GP L.L.C., its general partner, Name: /s/ Tabea Hsi, Title: Senior Managing Director 2021-04-05 BSOF MASTER FUND L.P., By: Blackstone Strategic Opportunity Associates L.L.C., its general partner, Name: /s/ Peter Koffler, Title: Authorized Person 2021-04-05 BSOF MASTER FUND II L.P., By: Blackstone Strategic Opportunity Associates L.L.C., its general partner, Name: /s/ Peter Koffler, Title: Authorized Person 2021-04-05 BLACKSTONE STRATEGIC OPPORTUNITY ASSOCIATES L.L.C., Name: /s/ Peter Koffler, Title: Authorized Person 2021-04-05 BLACKSTONE ALTERNATIVE SOLUTIONS L.L.C, Name: /s/ Peter Koffler, Title: Authorized Person 2021-04-05 BLACKSTONE HOLDINGS II L.P., By: Blackstone Holdings I/II GP L.L.C., its general partner, Name: /s/ Tabea Hsi, Title: Senior Managing Director 2021-04-05 BLACKSTONE HOLDINGS I/II GP L.L.C., Name: /s/ Tabea Hsi, Title: Senior Managing Director 2021-04-05 THE BLACKSTONE GROUP INC., Name: /s/ Tabea Hsi, Title: Senior Managing Director 2021-04-05 BLACKSTONE GROUP MANAGEMENT, L.L.C., Name: /s/ Tabea Hsi, Title: Senior Managing Director 2021-04-05 STEPHEN A. SCHWARZMAN, Name: /s/ Stephen A. Schwarzman 2021-04-05