Ardagh Metal Packaging S.a. · NYSE:AMBP
Ardagh Metal Packaging — Q2 2026 Earnings Presentation
25 slides from Ardagh Metal Packaging's earnings presentation, Jul 23, 2026
Slide 1: Second Quarter 2026 Update
Ardagh Metal Packaging S.A. Second Quarter 2026 Update July 23, 2026 Oliver Graham CEO Stefan Schellinger CFO 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts
Slide 3: Introduction
Introduction —— Y
Slide 4: Ardagh Metal Packaging at a glance
Ardagh Metal Packaging at a glance NYSE: AMBP Global beverage can manufacturer Servicing leading brand owners Benefitting from secular tailwinds Revenue split by destination Leading market positions Cans are winning in the 9% packaging mix 41% Europe* #2 $6bn Q2 2026 North America #3 LTM Brazil #3 5
Slide 5: Strong Adjusted EBITDA Growth in Q2
Strong Adjusted EBITDA Growth in Q2 Full year Adjusted EBITDA guidance raised to $775-$790 million Outperformed Q2 2026 Adjusted EBITDA guidance • Q2 Adjusted EBITDA growth of 14% to $240 million (+13% at constant currency), strongly ahead of guidance ($210-220 million) driven by Europe, with Americ
Slide 6: Significant milestone achieved
Significant milestone achieved Three regional businesses combined to form a strong #3 global competitor Adjusted EBITDA nearly 2x higher over the period Stronger footprint, with 30% larger capacity > $2bn of growth investments Diversification across faster-growing categories Specialty mix now at +50
Slide 7: Drivers of secular growth remain strong
Drivers of secular growth remain strong Category Pack Sustainability/ growth advantages regulation Traditional categories Convenience, efficiency Plastics substitution New categories (e.g., health & Imagery, quality, ‘coolness’ Decarbonization roadmap wellness) and the beverage can playing a leading
Slide 8: Regional snapshots
Regional snapshots AMP global shipments decline of 1% in Q2 2026; compared with 5% shipments growth in Q2 2025 Europe North America South America 5% growth in Europe in Q2 6% decline in the Americas in Q2 • Strength in carbonated soft • 5% decline in NA in Q2, • 15% decline in SA in Q2 due drinks, e
Slide 9: Q2 Financial review
Q2 Financial review 9
Slide 10: Key financial metrics
Key financial metrics Second quarter 2026 $m except per share data Three months ended Three months ended Change Change June 30, 2026 June 30, 2025 reported constant currency Revenue 1,713 1,455 18% 16% Profit for the period 35 5 Adjusted EBITDA 240 210 14% 13% Earnings per share 0.06 - Adjusted earn
Slide 11: Financial bridge
Financial bridge Three months ended June 30, 2026 ➢ Group revenue in Q2 was 18% higher Revenue $m Europe Americas Group versus the prior year (+16% at CCY) and Adjusted EBITDA increased by Revenue Q2 2025 615 840 1,455 14% (+13% CCY) Organic 63 175 238 FX translation 20 - 20 ➢ Americas revenue in Q2
Slide 12: Net debt and liquidity
Net debt and liquidity Strong liquidity and maturity profile June 30, 2026 Drawn amount Available liquidity $m $m Senior Secured Green and Senior Green Notes 4,002 - ➢ Green notes have no maturity Global Asset Based Loan Facility 28 361 before 2028 and a weighted average maturity of 3.3 years. All B
Slide 13: Fiscal 2026 guidance
Fiscal 2026 guidance Adjusted EBITDA guidance range upgraded to $775-790 million ❑ Raising the full year 2026 Adjusted EBITDA guidance range to $775–790 million, from the prior guidance range of $750-775 million. Guidance assumes: ❑ Some reversal of the favorable H1 timing–related factors during H2
Slide 14: Investment highlights
Investment highlights 14
Slide 15: Business strengths
Business strengths Leading pure play global beverage can company focused on sustainable products • Leading player in a long-term growth industry with defensive qualities • Geographically diversified - #2 player in Europe* and #3 player in each of North America and Brazil • Experienced management tea
Slide 16: Summary historic financials
Summary historic financials* Adj. EBITDA less maintenance capex Revenue ($ billion) Adjusted EBITDA ($ million) & cash conversion ratio** 6.0 900 700 90% 793 800 739 600 5.5 662 672 700 625 600 86.7% 85% 500 5.0 600 519 503 545 83.6% 83.4% 500 400 82.6% 82.8% 4.5 81.7% 81.3% 80% 400 300 4.0 300 200
Slide 17: Supplemental information
Supplemental information 17
Slide 18: Reconciliation of profit for the period to Adjusted Profit
Reconciliation of profit for the period to Adjusted Profit Three months ended June 30, 2026 2025 $m $m Profit for the period 35 5 Less: Dividend on preferred shares - (6) Profit/(loss) for the period used in calculating earnings per share 35 (1) Exceptional items, net of tax 5 21 Intangible amortiza
Slide 19: Reconciliation of profit for the period to Adjusted EBITDA
Reconciliation of profit for the period to Adjusted EBITDA Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 $m $m $m $m Profit for the period 35 5 30 - Income tax charge 16 10 17 6 Net finance expense 64 67 124 117 Depreciation and amortization 121 114 240 225 Exceptional op
Slide 20: Reconciliation of Adjusted EBITDA to Adjusted operating cash flow and free cash flow
Reconciliation of Adjusted EBITDA to Adjusted operating cash flow and Adjusted free cash flow Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 $m $m $m $m Adjusted EBITDA 240 210 419 365 Movement in working capital 166 113 (332) (315) Maintenance capital expenditure (29) (27
Slide 21: Sustainability strategy
Sustainability strategy Built on three key pillars 21
Slide 22: Sustainability leadership recognition
Sustainability leadership recognition B rating for Climate Change, A- for Water Management and Awarded a Platinum rating by EcoVadis for A for Supplier Engagement from global not-for-profit CDP Sustainability* *Ardagh Group rating 22
Slide 23: Core Values
ZAUSIOL Valuing contribution Development + Empowerment Mutual respect Integrity Transparency Collaboration + Safety and responsibility + Communication MCmCe Continuous improvement Innovation Sustainability
Slide 24: Purpose
ArdaghMetalPackaging yy We make packaging for good We work We are proud of Our sustainable, infinitely We are shaping a sustainable future together as our manufacturing recyclable, quality as part of the circular economy while one team. heritage and packaging protects our actively supporting and inv
Slide 25: ArdaghMetalPackaging hy
_ ArdaghMetalPackaging hy
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