Quad/Graphics Reports a Small Net Sales Decline

• Signed an agreement with Transcontinental to essentially exchange Quad/Graphics’ Canadian assets for Transcontinental’s Mexican assets—a move that is expected to create positive incremental Adjusted EBITDA within 12-24 months of the transaction closing.

Unless otherwise noted, all comparisons are to pro forma measures that assume the company’s July 2, 2010, acquisition of World Color Press was completed on Jan. 1, 2010.