Graphic Packaging Holding Company · NYSE:GPK
Graphic Packaging — Q2 2026 Earnings Presentation
16 slides from Graphic Packaging's earnings presentation, Aug 4, 2026
Slide 1: Second Quarter 2026 Earnings & Investor Update
Second Quarter 2026 Earnings & Investor Update August 4, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Any statements of the Company’s expectations in these slides, including, but not limited to, statements regarding 2026 savings from structural cost improvements, increasing profitability in the second half of 2026 d
Slide 3: Q2 2026 Results and Key Highlights
Q2 2026 Results and Key Highlights Q2‘26 Results Key Highlights Net Sales $2.2B ▪ Delivering Q2’26 results in-line to modestly above expectations; sequential margin expansion of 50 bps Volume Flat ▪ Increasing 2H26 profitability driven by pricing Adj. EBITDA1 $247M and structural cost improvements,
Slide 4: Q2 2026 Sales by End Market
Q2 2026 Sales by End Market End Market Q2’25 Q3’25 Q4’25 2025 Q1’26 Q2’26 Food Beverage Foodservice Household Health & Beauty Total >+5% +2% to +5% -2% to +2% -2% to -5% >-5% Note: Chart represents Net Sales YoY. 4
Slide 5: Executing Near-Term Strategic Priorities
Executing Near-Term Strategic Priorities Optimize Deliver free cash Disciplined Enhance operations, Deploy free flow growth organic growth profitability footprint and cash flow commitment portfolio Growth in food and On track to Croatia divestiture Achieved $75M Paying down debt health & beauty deli
Slide 6: Focus on Customer Relationships; Service Excellence
Focus on Customer Relationships; Service Excellence Enhanced Engagement Supporting Faster Time to Commercialization and Brand Appeal for Consumers Brand Enhancement Price-Pack Architecture Developed differentiated package for Heineken Commercialized 10-pack mini can solution UEFA Champions League pr
Slide 7: Sustainability Tailwinds Support & Drive Higher Demand
Sustainability Tailwinds Support & Drive Higher Demand European Regulation, Increased Paper Recycling Rates, Consumer Preference ▪ Beginning 2030, several types of single-use plastic packaging banned due to EU’s Packaging and Packaging Waste Regulation (PPWR) ▪ In 2025 Recycled Materials Association
Slide 8: Expanding Recycled Paperboard Markets
Expanding Recycled Paperboard Markets Uncoated Recycled Market Opportunity1 ▪ Entering URB market to expand recycled platform growth in new markets with new customers ▪ Current Waco capabilities can service folding carton and lamination applications today (~1M tons) ~1.0M tons ▪ New, incremental dem
Slide 9: 2025 Impact Report
2025 Impact Report Progress across all pillars: Better Packaging, Better for People, and Better Future 1. Defined as injury that results in a fatality or is life-threatening or life-altering. 9 2. US Virtual Power Purchase Agreement (VPPA) will start providing credits late 2027. EMEA project began o
Slide 10: Q2 2026 Results
Q2 2026 Results ($M excl. EPS) Q2’26 Q2’25 Q2’26 HIGHLIGHTS Net Sales $2,188 $2,204 • Volume flat, Price -1% • Innovation Sales Growth $40M Net Income $24 $104 • FX/Other +$13M Adj. EBITDA1 $247 $336 BUSINESS DRIVERS Adj. EBITDA Margin1 11.3% 15.3% • Continued temporary packaging price EPS $0.08 $0.
Slide 11: Updated 2026 Guidance
Updated 2026 Guidance1 Prior Current Net Sales Projecting the $8.40B - $8.60B high-end of range Assumed Volume Range -1% to +1% No change Adj. EBITDA Projecting the $1.05B - $1.25B low-end of range Adj. EPS $0.75 - $1.15 $0.65 - $0.902 Adj. Cash Flow $700M - $800M $600M - $700M Capital Spending ~$45
Slide 12: Clear Path to Value Creation
Clear Path to Value Creation Driving disciplined and sustainable growth through proactive commercial strategy and focused innovation Taking decisive actions to strengthen operational excellence and recover margins Optimizing footprint and portfolio on core competencies and highest return opportuniti
Slide 13: N Y eng AN
AJ . : N Y eng AN
Slide 14: 2026 Supplemental Guidance
2026 Supplemental Guidance 2026 ($M) YoY Maint. Outage Impacts Interest Expense1 ~$275M Q1 ($18) Effective Tax Rate ~25% Q2 $6 Depreciation & Amortization2 ~$510M Q3 ~($10)E Year-End Net Leverage3 ~4.6x Q4 ~$5E 1. Interest Expense updated to reflect expected higher debt balance. 2. Excludes accelera
Slide 15: 2026 Supplemental Guidance
2026 Supplemental Guidance Adjusted Cash Flow Cost Savings ($M) 2025 2026 ($M) 2026 Q1 ($442) ($183) Q1 $10 Q2 $83 $138 Q2 $25 2H $528 ~$700E1 2H ~$50E FY $169 ~$650E1 FY ~$85E 15 1. 2H 2026 and FY 2026 represents expected Adj. Cash Flow at the midpoint of the guidance range.
Slide 16: Graphic Packaging Holding Company
Graphic Packaging Holding Company
Graphic Packaging Holding Company — Q2 2026 Earnings Presentation on 6ix