Quad/Graphics Reports Slight Gains and Declares First Cash Dividend

SUSSEX, WI—May 10, 2011—Quad/Graphics Inc. reported results for its first quarter ending March 31, 2011, and announced the initiation of a cash dividend.

Summary:

• The company announced its first cash dividend as a public company—a quarterly dividend of $0.20 per share, payable on June 10, 2011, to shareholders of record as of May 27, 2011, which equates to an annualized dividend of $0.80 per share.