You can pass the coins through a mixer or use a wallet that supports coinjoining services, this way the transaction would be untraceable to the exchange transaction.
Also, you can avoid exchanges which request KYC to further protect your privacy
Avoiding exchanges that request KYC also comes at the risk that they shut their doors right after you deposit your Bitcoins. I don't know how much you want to send to that paper wallet, but going with unregistered exchanges when we are talking high amounts of Bitcoins is like playing with fire.