Smurfit Westrock Plc · NYSE:SW

Smurfit Westrock — Investor Day (February 2026)

38 slides from Smurfit Westrock's investor day presentation, February 2026

  1. Slide 1: Medium-Term Plan

    Medium-Term Plan February 2026 Paper | Packaging | Solutions

  2. Slide 2: Forward Looking Statements and Non-GAAP Financial Measures

    Smurfit Westrock | Medium-Term Plan 2 Forward Looking Statements and Non-GAAP Financial Measures The presentation includes certain “forward-looking statements” (including within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 19

  3. Slide 3: Non-GAAP Financial Measures

    Smurfit Westrock | Medium-Term Plan 3 Non-GAAP Financial Measures Smurfit Westrock reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). However, management believes certain non-GAAP financial measures provide Smurfit Westrock’s Board of directors,

  4. Slide 4: Today's presenters

    Smurfit Westrock | Medium-Term Plan 4 Presenters Today’s Tony Ken Laurent Saverio Alvaro Jose Smurfit Bowles Sellier Mayer Henao presenters CEO CFO CEO CEO CEO North America Europe, MEA and LATAM (including Mexico) APAC Paper | Packaging | Solutions © 2026 Smurfit Westrock. All Rights Reserved.

  5. Slide 5: The global leader delivering value for all stakeholders

    Smurfit Westrock | Medium-Term Plan 5 The global leader delivering value for all stakeholders* Significant Adjusted EBITDA Significant Free Cash Flow** Increasing Capital Profit growth in and Margin Growth** Generation Returns to Shareholders North America Cumulative Adjusted EBITDA Discretionary Di

  6. Slide 6: Our vision

    Smurfit Westrock | Medium-Term Plan 6 Our vision is to dynamically and sustainably deliver secure, superior and long-term value for all of our stakeholders, as one of the world’s great companies… ...guided by our core values of safety, loyalty, integrity and respect. Paper | Packaging | Solutions ©

  7. Slide 7: The leader in innovative and sustainable packaging

    Smurfit Westrock | Medium-Term Plan 7 The leader in innovative and sustainable packaging The global ‘Go-To’ packaging partner of choice $31bn 97k 40 58% 2025 Net Sales from Net Sales Employees Countries North America #1 Global Leader in #1 or #2 market share positions Proven track record of Paper an

  8. Slide 8: What we do

    Smurfit Westrock | Medium-Term Plan 8 What we do We deliver unrivalled fiber-based packaging solutions Supported by our proprietary leading-edge technologies and data set Geographic Mix1 Corrugated, Paper & other Packaging (77%)1 EMEA & APAC High Protection / eCommerce Packaging Bag-in-Box 35% North

  9. Slide 9: Smurfit Westrock InnoTools

    Smurfit Westrock | Medium-Term Plan 9 Smurfit Westrock InnoTools 24+ globally used unique digital tools—907 times a day—proving our solutions are possible, profitable, desirable and better for the planet ShelfSmart.AI SupplySmart InnoBook Paper2Box.AI Analyzer Built on 400,000+ Using insights from I

  10. Slide 10: Our winning formula

    Smurfit Westrock | Medium-Term Plan 10 Our winning formula Recruiting, retaining and motivating the Performance-led culture right people Customer centered Owner Operator model Decentralized Rewarding our people, Decision- Making Focus on including with aligned innovation incentives and quality 100%

  11. Slide 11: North America

    Smurfit Westrock | Medium-Term Plan 11 North America Unlocking the full potential Paper | Packaging | Solutions © 2026 Smurfit Westrock. All Rights Reserved.

  12. Slide 12: Paper and packaging leader in North America

    Smurfit Westrock | Medium-Term Plan 12 Paper and packaging leader in North America* Our biggest value creation opportunity $19bn Net Sales $3.0bn Adj. EBITDA ~49k Employees 3 Countries #1 or #2 position in all our core segments Corrugated Packaging Consumer Packaging Forestry/Wood Procurement Mercha

  13. Slide 13: Foundation set in 2025

    Smurfit Westrock | Medium-Term Plan 13 Foundation Successful Introduction Customer Operational set in 2025 Integration of Owner- Orientation Efficiency Effort Operator Model Synergies Performance Win-win value Rationalization exceeded, led culture, creation, of inefficient headcount P&L ownership co

  14. Slide 14: Our plan to deliver Adjusted EBITDA growth and margin expansion

    Smurfit Westrock | Medium-Term Plan 14 Our plan to deliver Adjusted EBITDA growth and Adjusted EBITDA Margin expansion* Growing through innovation $3.0bn ~$4.2bn* Adj. EBITDA Adj. EBITDA 2025 2030 Solving customer challenges Adjusted EBITDA Margin* (%) Rebalancing long paper position Investing in th

  15. Slide 15: Our winning formula

    Smurfit Westrock | Medium-Term Plan 15 Our winning formula A unique, end-to-end fiber-based packaging offering Substrate Agnostic Full Suite of Capabilities Innovative Differentiation Industry-leading range in From primary to tertiary Drive customers’ top line both containerboard and packaging (incl

  16. Slide 16: EMEA & APAC

    Smurfit Westrock | Medium-Term Plan 16 EMEA & APAC Track record of outperformance Paper | Packaging | Solutions © 2026 Smurfit Westrock. All Rights Reserved.

  17. Slide 17: Integrated platform in EMEA & APAC

    Smurfit Westrock | Medium-Term Plan 17 Integrated platform in EMEA & APAC* Track record of and continued outperformance $11bn $1.6bn India Net Sales Adj. EBITDA ~36k Employees 27 Countries #1 positions in Corrugated, Containerboard and Asia-Pacific Bag-in-Box * 2025 Results Corrugated Packaging Cons

  18. Slide 18: Building on strong foundations

    Smurfit Westrock | Medium-Term Plan 18 Building on One Integrated Value Market strong System Capture Leader foundations Integration of Structural cost Recognition as the consumer business improvements industry leader in Harmonized owner- Targeted restructuring innovation with the operator model and

  19. Slide 19: Continuing outperformance through leadership in innovation and sustainability

    Smurfit Westrock | Medium-Term Plan 19 Continuing outperformance through leadership in innovation and sustainability Our journey Third Strategic Plan Focus Remains on Functional ~$2.1bn >16% Value & Differentiation Adj. EBITDA Adj. EBITDA 2030* Margin 2030* • Recognized market leader • Enabling flex

  20. Slide 20: Our winning formula

    Smurfit Westrock | Medium-Term Plan 20 Our winning formula Operating Model Customer Centric EMEA & APAC to 2030 • A region well positioned for growth • The integrated model • Differentiation • Effective capital allocation • Flexibility • Investing for growth • Functional value • Adapting a proven pl

  21. Slide 21: Latin America

    Smurfit Westrock | Medium-Term Plan 21 Latin America Dynamic growth and superior margins Paper | Packaging | Solutions © 2026 Smurfit Westrock. All Rights Reserved.

  22. Slide 22: Pan-regional leader in Latin America

    Smurfit Westrock | Medium-Term Plan 22 Integrated Pan-regional leader* corrugated business Dynamic growth and superior Margins Leading positions in cartons and $2bn Net Sales $0.5bn Adj. EBITDA sacks Proven track record ~11k Employees 10 Countries Experienced management team #1 position in Corrugate

  23. Slide 23: Building on strong foundations

    Smurfit Westrock | Medium-Term Plan 23 Building on One Integrated One Value strong Paper System Team Capture foundations Integrated 100k Market now only sees Synergies across mills tonnes from North Smurfit Westrock and forestry divisions American paper in Colombia and system into Central Brazil Ame

  24. Slide 24: Unrivaled footprint

    Smurfit Westrock | Medium-Term Plan 24 Unrivaled footprint Fastest-growing and highest-margin region Broadest portfolio in the region Forestry | Recycling | Mills Corrugated | Consumer Packaging | Sacks 2x 23% 4% The only large-scale, pan-regional player serving both multinational and local customer

  25. Slide 25: Our winning formula

    Smurfit Westrock | Medium-Term Plan 25 Our winning formula Reach $0.8bn Adjusted EBITDA* Increase Adjusted EBITDA Margin to 28%* Pursuing growth Value-added proposition Brazil Expansion possibilities in opportunities, with 3 Experience Centers Low cash cost and high the corrugated business in both o

  26. Slide 26: Our accelerated path to delivering shareholder value

    Smurfit Westrock | Medium-Term Plan 26 Our accelerated path to delivering shareholder value Paper | Packaging | Solutions © 2025 © 2026 Smurfit Smurfit Westrock. Westrock. All All Rights Rights Reserved.

  27. Slide 27: Our proven track record of delivering performance

    Smurfit Westrock | Medium-Term Plan 27 Our proven track record of delivering performance Built on foundations of effective capital allocation, operating excellence and customer centricity EBITDA Growth Margin Expansion Progressive Capital Returns Adjusted EBITDA CAGR Adjusted EBITDA Margin Improveme

  28. Slide 28: Our accelerated path to delivering shareholder value

    Smurfit Westrock | Medium-Term Plan 28 Our accelerated $7bn Adjusted EBITDA** and path to delivering ~19% Adjusted EBITDA Margin** by 2030 shareholder value Executing on our biggest opportunity – Financial targets profit growth in North America through 2030* Deliver ~$14bn of Cumulative Discretionar

  29. Slide 29: $7bn Adjusted EBITDA by 2030 with significant margin expansion

    Smurfit Westrock | Medium-Term Plan 29 $7bn Adjusted EBITDA* by 2030 with significant margin expansion** Plan assumes market growth1 and through-the-cycle pricing around current levels % Adjusted EBITDA Margin*  Our plan assumes market growth1 of 1.6% in North America, 1.7% in Europe and 2.0% in La

  30. Slide 30: Our capital allocation framework

    Smurfit Westrock | Medium-Term Plan 30 Our capital allocation framework Returns focused, flexibility and agility built in Capital Expenditure Dividend** Share Buyback** M&A • $2.4bn - $2.8bn annual • ~$5bn of dividends • Capacity from 2027 • Disciplined approach capex spend1 every year • Progressive

  31. Slide 31: Strong FCF generation supporting capital allocation framework

    Smurfit Westrock | Medium-Term Plan 31 $31bn Strong FCF** generation supporting capital allocation ($9bn) framework* ($4bn) $14bn Cumulative 2026-2030 ($4bn) figures ($4bn) $5bn ($5bn) EBITDA Base Capex Tax Other Items Capital Available Growth Capex Dividends *** Surplus Capital for Deployment *Thes

  32. Slide 32: Creating value through disciplined approach to capital expenditure

    Smurfit Westrock | Medium-Term Plan 32 Creating value through our disciplined and effective approach to capital expenditure Cumulative capital expenditure targets* for 2026-2030, supported by $31bn of cumulative Adjusted EBITDA** Annual capex spend of $2.4bn - $2.8bn2 $13bn Cumulative Total ~$4bn of

  33. Slide 33: A balance sheet of significant strength and financial flexibility

    Smurfit Westrock | Medium-Term Plan 33 A balance sheet of significant strength Strong Investment Fitch upgrade to BBB+ and stable outlook in 2025 Grade Credit Rating Maintain strong investment-grade ratings through the cycle and financial flexibility 2025 Net Leverage* 2.6x net debt of $12.9bn Long-

  34. Slide 34: Significant, growing capital returns to shareholders

    Smurfit Westrock | Medium-Term Plan 34 Significant, growing capital returns to shareholders Proven track-record of progressive dividend Proven track-record of progressive dividends, with a long-term commitment to increase capital returns to shareholders via continued dividend growth and share buybac

  35. Slide 35: Our competitive strengths

    Smurfit Westrock | Medium-Term Plan 35 Our competitive strengths Performance-led culture and owner operator model Experienced leadership team A global reach and product portfolio An innovative and customer centric approach A proven track-record of operational outperformance Capital allocation model

  36. Slide 36: In summary: Right team, right product, right time

    Smurfit Westrock | Medium-Term Plan 36 In summary We are well positioned to deliver on this plan. Smurfit Westrock has: • 90 years of history • A proven operating model • A resilient business • An unrivalled product portfolio • A world class management team, aligned with shareholders • A proven trac

  37. Slide 37: Thank you

    Smurfit Westrock | Medium-Term Plan 37 Thank you Paper | Packaging | Solutions © 2026 Smurfit Westrock. All Rights Reserved.

  38. Slide 38: Paper | Packaging | Solutions

    Smurfit Westrock | Medium-Term Plan 38 Paper | Packaging | Solutions

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