Ardagh Metal Packaging S.a. · NYSE:AMBP
Ardagh Metal Packaging — Investor Presentation (November 2025)
29 slides from Ardagh Metal Packaging's investor presentation, November 2025
Slide 1: Ardagh Metal Packaging Investor Presentation November 2025
Ardagh Metal Packaging Investor Presentation November 2025
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN ANY JURISDICTION WHERE SUCH RELEASE, REPRODUCTION, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR TO ANY OTHER PERSON. THIS PRESENTATION DOES NOT CONTAIN ALL OF THE INFORMATION THAT IS MATERIAL TO
Slide 3: Today's Agenda
Request: updated photos for TOC and Flysheets Today’s Agenda 1 Business Overview 2 Key Investment Highlights 3 Historical Financials 4 Appendix 2
Slide 4: Executive Summary
Executive Summary • Ardagh Metal Packaging (“AMP” or the “Company”) is a leading global producer of sustainable beverage cans, operating 23 production facilities across 9 countries and holding a #2(1) market position in Europe(2) and #3(1) in North America and Brazil − The Company has a well-investe
Slide 5: 1. Business Overview
1. Business Overview
Slide 6: Ardagh Metal Packaging (AMP) is a Leading Global Beverage Can Producer
Ardagh Metal Packaging (AMP) is a Leading Global Beverage Can Producer Leading Beverage Can Producer… …With Global Presence and Focus on Specialty… …And a Compelling Financial Profile Top 2 / 3 market leadership position in Revenue by Region(3) $5.3bn Europe(1), North America and Brazil Brazil LTM Q
Slide 7: #2 Supplier of Aluminium Beverage Cans in Europe and #3 in North America and Brazil
#2 Supplier of Aluminium Beverage Cans in Europe(1) and #3 in North America and Brazil Europe(1) Americas Group LTM Q3’25 Revenue $2.3bn $3.0bn $5.3bn LTM Q3’25 Adj. EBITDA $264m (11.4%) $473m (15.6%) $737m (13.8%) (Adj. EBITDA Margin) North America Brazil Plants 12 8 3 23 Market Position # 2(2) # 3
Slide 8: 2. Key Investment Highlights
2. Key Investment Highlights
Slide 9: AMP Presents a Compelling Story
AMP Presents a Compelling Story 1 Leading pure-play beverage can player with well-established market positions 2 Resilient beverage can sector serving stable end markets, benefitting from structural tailwinds 3 Leadership in sustainability, securing the future with infinitely recyclable products 4 L
Slide 10: Leading Pure-play Beverage Can Player with Well-established Market Positions
1 Leading Pure-play Beverage Can Player with Well-established Market Positions AMP is a Leading Player in a Large and Consolidated Market with Strong Market Positioning x% Share of LTM Q3 2025 revenue Europe(1) 43% North America 48% Brazil 9% AMP’s Market Position(2) #2 #3 #3 AMP’s End Market Exposu
Slide 11: Resilient Beverage Can Sector Serving Stable End Markets, Benefitting From Structural Tailwinds
Resilient Beverage Can Sector Serving Stable End Markets, Benefitting From 2 Structural Tailwinds Large, Growing and Resilient Beverage Can Market x% Share of LTM Q3 2025 revenue Europe(1) 43% North America 48% Brazil 9% Long-term Market CAGR(2) LSD / MSD% LSD% MSD% Growth Drivers for AMP ✓ Market s
Slide 12: Leadership in Sustainability, Securing the Future with Infinitely Recyclable Products
3 Leadership in Sustainability, Securing the Future with Infinitely Recyclable Products Beverage Cans Have the Highest Recycling Rate… ...and Are Gaining Market Share… Global recycling rates, as of 2025(1) Beverage cans as an overall % of beverage packaging market(2) Non-alcoholic drinks Alcoholic d
Slide 13: Long-term Partner to Blue-chip Customers Under Multi-year Cost Pass-through Contracts
Long-term Partner to Blue-chip Customers and Globally Renowned Brands Under 4 Multi-year Cost Pass-through Contracts Attractive and Diverse Customer Base Key Attributes (Share of 2024 global volumes) ✓ Attractive mix of long-term relationships and new customers and brands More than two decades of To
Slide 14: Leading Design and Innovation Capabilities
Leading Design and Innovation Capabilities, Positioned at the Forefront of Evolving 5 Market Dynamics Quality Beverage Can Solutions(1) … …With Leading Design and Innovation Capabilities… …Positioned For Latest Trends Standard Major Innovation Projects Product premiumization Matte Impact Thermo Impa
Slide 15: Well Invested Platform through Significant Growth Investments
Well Invested Platform through Significant Growth Investments over the last Several 6 Years, Creating Competitive Moats and Paving the Way for Organic Growth AMP’s Global Footprint Historical Growth Capex(3) (in $m) x% Growth Capex in % of Revenue Europe(1) North America Brazil 10.4% 5.5% 1.4% 1.0%
Slide 16: Attractive Financial Profile and Robust Cash Flow Generation
7 Attractive Financial Profile and Robust Cash Flow Generation Adjusted EBITDA Robust Cash Flow Generation (in $m) 13.3% 12.5% 13.7% 13.8% 2022-24A Strong volume growth, CAGR: 3.7% driven by high-growth end markets 737 625 672 600 2022A 2023A 2024A LTM Q3 2025 Attractive product mix driving high ope
Slide 17: Highly Experienced Management Team with a Strong Track Record
Highly Experienced Management Team with a Strong Track Record of Operational 8 Excellence Best-in-class and Experienced Management Team Oliver Graham Stefan Schellinger Vincent Lefèvre Jens Irion Jorge Bannitz CEO CFO CEO – Europe CEO – North CEO – Brazil America 18+ 7+ 25+ 10+ 30+ Liam Cairns Willi
Slide 18: 3. Historical Financials
3. Historical Financials
Slide 19: Historical Financials
Historical Financials Revenue Adjusted EBITDA Adjusted EBITDA – Maintenance Capex (in $m) (in $m) (in $m) Volume Growth Adjusted EBITDA Margin (%) Cash Conversion(1) (%) +5% +5% +3% +3% 13.3% 12.5% 13.7% 13.8% 82.6% 81.3% 83.5% 83.0% 5,346 22-24A CAGR: 3.7% 737 4,812 4,908 672 612 4,689 625 561 600
Slide 20: Current Trading Update – High Visibility on 2025 Performance
Current Trading Update – High Visibility on 2025 Performance Current Trading Commentary (in $m) ✓ Q3 2025 revenue of $1.4bn, up 8.8% YoY, and YTD 8.8% 11.8% Q3 2025 of $4.2bn, up 11.8% YoY, mainly driven by: 3,713 4,151 ‒ Strong volume growth in Europe supported by 1,313 1,428 Revenue strength in so
Slide 21: Historical Cash Flow Statement
Historical Cash Flow Statement Commentary 22A-24A $m 2022A 2023A 2024A LTM Q3 2025 CAGR ✓ AMP’s ~$1.8bn(1) growth investment cycle between Adj. EBITDA 625 600 672 737 3.7% 2021 and 2024 addresses strong global demand by Maintenance Capex (109) (112) (111) (125) customers for beverage cans, and bring
Slide 22: Historical Capex Overview
Historical Capex Overview Historical Capex by Type Commentary (in $m) x% % of Revenue ✓ Cumulative capex amounted to ~$1.3bn over the 12.7% 7.9% 3.6% 3.2% 3.3% period between 2022A and YTD Q3 2025 595 ‒ $869m (68%) is attributable to AMP’s growth investment program, and $414m (32%) to maintenance ca
Slide 23: Delivering on Our Story
Delivering on Our Story Key Takeaways ✓ #2 supplier of aluminum beverage cans in Europe(1) 1 Leading pure-play beverage can player with well-established market positions and #3 in North America and Brazil Resilient beverage can sector serving stable end markets, benefitting ✓ Structural tailwinds fr
Slide 24: 4. Appendix
4. Appendix
Slide 25: AMP's Green Financing Framework & Second-Party Opinion
AMP’s Green Financing Framework & Second-Party Opinion Green Financing Framework Second-Party Opinion by Sustainable Fitch The Framework: Pre-Issuance second-party opinion • Assists AMP in financing initiatives that enable • AMP has retained Sustainable Fitch to a low carbon footprint of our product
Slide 26: Core Components of Green Financing Framework
Core Components of Green Financing Framework Use of Proceeds Project Evaluation and Selection Process ✓ AMP’s Board Sustainability Committee oversees expenditure selection and ensures alignment with eligibility criteria and Eligible Green Expenditure Category: Eco-Efficient and/or Circular Economy A
Slide 27: Sustainability Strategy – Built on Three Key Pillars
Sustainability Strategy – Built on Three Key Pillars AMP’s aim is to reduce emissions, material use, waste and water Sustainability filter consumption while fostering a diverse and inclusive work Impact is only sustainable if it is economically viable both in the long- and short term environment and
Slide 28: Progress to Targets – 2030 Roadmap Status
Progress to Targets – 2030 Roadmap Status (1) The Research Institutes of Sweden (RISE) provided limited assurance of the acquisition, processing and aggregation of the quantitative data necessary to calculate the principal 2024 environmental and health and safety KPIs reported. (2) Market-based appr
Slide 29: 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
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