Tredegar Corporation · NYSE:TG
Tredegar — Q2 2026 Earnings Presentation
32 slides from Tredegar's earnings presentation, 2026
Slide 1: 2026 Second Quarter Financial Results
2026 Second Quarter Financial Results
Slide 2: Forward-Looking Statements
Tredegar Corporation Forward-Looking Statements Certain statements contained in this presentation are forward-looking statements. Pursuant to federal securities regulations, we have set forth cautionary statements relating to those forward-looking statements in our Annual Report on Form 10-K for the
Slide 3: Second Quarter 2026 Summary Results
Tredegar Corporation Six Months Ended Six Months Ended (in millions, except per share data) 2Q 2026 2Q 2025 June 30, 2026 June 30, 2025 Net Sales1 $209.8 $173.0 $390.8 $332.1 Net Income from Ongoing Operations3 $6.4 $1.8 $11.4 $5.4 Diluted EPS from Ongoing Operations3 $0.18 $0.05 $0.33 $0.15 • Incre
Slide 4: 2026 Second Quarter Results
Tredegar Corporation 2026 Second Quarter Results “Tredegar delivered strong second quarter results, with higher EBITDA in Aluminum Extrusions driven by metal-related margin tailwinds,” said Dr. Arijit (Bapi) DasGupta, President and Chief Executive Officer of Tredegar. “Our businesses continued to ge
Slide 5: Aluminum Extrusions: 2026 Second Quarter and First Six Months Results
Aluminum Extrusions (Bonnell Aluminum) 2026 Second Quarter and First Six Months Results Second Quarter Results First Six Months Results (in millions) 2Q 2026 2Q 2025 (in millions) 2026 2025 Volume (lbs.) 38.3 40.7 (6)% Volume (lbs.) 73.5 78.6 (7)% Net Sales1,2 $184.1 $148.4 24% Net Sales1,2 $343.6 $
Slide 6: Aluminum Extrusions: 2026 Second Quarter Results
Aluminum Extrusions (Bonnell Aluminum) 2026 Second Quarter Results EBITDA from ongoing operations in the second quarter of 2026 increased $5.2 million versus the second quarter of 2025, primarily due to: • A $5.2 million increase in contribution margin (net sales less variable costs) associated with
Slide 7: Aluminum Extrusions: Sales Volume by End-Use Market and Net New Orders
Aluminum Extrusions (Bonnell Aluminum) Sales Volume by End-Use Market and Net New Orders Three Months Three Months Six Months Ended Favorable/ Ended Favorable/ Ended Favorable/ June 30, (Unfavorable) March 31, (Unfavorable) June 30, (Unfavorable) (in millions of lbs) 2026 2025 % Change 2026 % Change
Slide 8: Aluminum Extrusions: Architectural Billings Index
Aluminum Extrusions (Bonnell Aluminum) Architectural Billings Index • One of the key indicators for non-residential building & construction (B&C) is the Architecture Billings Index (ABI), which leads non-residential B&C activity by 9 to 12 months. Published monthly by the American Institute of Archi
Slide 9: High Performance Films: 2026 Second Quarter and First Six Months Results
High Performance Films 2026 Second Quarter and First Six Months Results Second Quarter Results First Six Months Results (in millions) 2Q 2026 2Q 2025 (in millions) 2026 2025 Volume (lbs.) 9.7 9.8 (1)% Volume (lbs.) 18.7 19.4 (4)% Net Sales1,2 $25.6 $24.6 4% Net Sales1,2 $47.2 $50.1 (6)% Ongoing Oper
Slide 10: Capital Expenditures – History & Projections
Tredegar Corporation Capital Expenditures – History & Projections 2026 2022 2023 2024 2025 LTM 2026 ($ in millions) Projection1 Aluminum Extrusions $23.7 $20.3 $10.1 $15.4 $19.0 $20 High Performance Films 3.3 1.8 1.8 1.8 1.8 2 Corporate 1.7 — — — 0.1 — Total $28.7 $22.1 $11.9 $17.2 $20.9 $22 2026 Ca
Slide 11: 2026 Second Quarter Year-to-Date Financial Highlights
Tredegar Corporation 2026 Second Quarter Year-to-Date Financial Highlights ($ in millions) Cash Flows provided by operations $7.7 Capital Expenditures $9.3 Dividends Paid1 $0.0 Net Debt2 $28.8 ABL Facility Availability (as of June 30, 2026) $76.0 1 The Company suspended its quarterly dividend (which
Slide 12: Total Debt, Financial Leverage and Debt Covenants
Tredegar Corporation Total Debt, Financial Leverage and Debt Covenants Total debt was $46.0 million at June 30, 2026 and $35.1 million at December 31, 2025. Cash and cash equivalents were $17.2 million at June 30, 2026 and $6.7 million at December 31, 2025. Net debt (total debt in excess of cash and
Slide 13: Appendix
Tredegar an. > \ Me eee Appendix
Slide 14: Major Product Groups, End Markets, Customers: Aluminum Extrusions
Major Product Groups Primary End Markets Customers Competitors Aluminum Extrusions Building and Construction: commercial windows & Glazing contractors and Hydro Extrusions North Custom designed, fabricated and doors, curtain walls, storefronts & entrances, fabricators America, Kaiser finished alumin
Slide 15: Major Product Groups, End Markets, Customers: High Performance Films
Major Product Groups Primary End Markets Customers Competitors High Performance Films Surface Protection: Single High-value components of flat panel and Major manufacturers of Toray, Sekisui, and multilayer surface flexible displays, including liquid crystal flat panel and flexible Hanjin, Ihlshin p
Slide 16: Manufacturing Locations
Manufacturing Locations Bonnell Aluminum and Tredegar High Performance Films 16
Slide 17: Aluminum Extrusions Business Profile
Aluminum Extrusions Business Profile Key Market Drivers $661 million LTM Net Sales1 • Strong demand for finished products, including anodized, painted products and Electrical & other fabricated components 9% • Growing aluminum content in vehicles, driven by CAFE (corporate average fuel economy) stan
Slide 18: Aluminum Extrusions: Key Markets
Aluminum Extrusions Key Markets – Building & Construction/Automotive/Specialty Building & Construction Automotive Specialty (Data Containment) Specialty (Solar Frame) Specialty segment includes electrical, consumer durables, TSLOTS, distribution, and machinery & equipment. 18
Slide 19: Aluminum Extrusions: Annual Historical Financials
Aluminum Extrusions Annual Historical Financials Net Sales1 ($ in millions) EBITDA from Ongoing Ops ($ in millions) 750 661 75 67 638 599 59 51 500 475 472 50 38 41 250 25 — — 2022 2023 2024 2025 LTM 2026 2022 2023 2024 2025 LTM 2026 Volume (lbs. in millions) Capital Expenditures ($ in millions) 200
Slide 20: High Performance Films Business Profile
High Performance Films Business Profile Key Growth Drivers $97 million LTM Net Sales1 • Greater connectivity leading to more and higher quality displays Advanced • Thinner devices with increasing resolution and larger screen size packaging, 29% • Demographic and workplace trends shifting to greater
Slide 21: Consumer Electronics End-Use Markets for Surface Protection Films
High Performance Films Consumer Electronics End-Use Markets for Surface Protection Films Television & large display Mobile devices E-readers & tablets Automotive display Flexible solar 21
Slide 22: Surface Protection Overview
High Performance Films Surface Protection Overview Typical LCD Optical Stack (examples: TVs, Smartphones) 22
Slide 23: High Performance Films: Annual Historical Financials
High Performance Films Annual Historical Financials Net Sales1 ($ in millions) EBITDA from Ongoing Ops ($ in millions) 150 40 30 105 100 30 27 98 97 24 100 77 20 12 11 50 10 — — 2022 2023 2024 2025 LTM 2026 2022 2023 2024 2025 LTM 2026 Volume (lbs. in millions) Capital Expenditures ($ in millions) 6
Slide 24: Tredegar Annual Historical Financials
Tredegar Corporation Annual Historical Financials Net Sales1 ($ in millions) Consolidated EBITDA from Ongoing Ops2 ($ in millions) 1,000 75 63 757 57 59 735 699 750 51 552 577 50 500 30 25 250 — — 2022 2023 2024 2025 LTM 2026 2022 2023 2024 2025 LTM 2026 Earnings Per Share from Ongoing Ops3 Capital
Slide 25: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations
Slide 26: Notes: Net Sales Reconciliation
Tredegar Corporation GAAP to Non-GAAP Reconciliations Due to rounding, numbers presented throughout this presentation may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Notes: 1. Net sales represent sales less freight. The Company uses net
Slide 27: Note 2: Consolidated EBITDA from Ongoing Operations
Tredegar Corporation GAAP to Non-GAAP Reconciliations 2. Tredegar’s presentation of Consolidated EBITDA from ongoing operations is a non-GAAP financial measure that excludes the effects of gains or losses associated with plant shutdowns, asset impairments and restructurings, gains or losses from the
Slide 28: Note 3: Net Income and EPS from Ongoing Operations
Tredegar Corporation GAAP to Non-GAAP Reconciliations 3. Tredegar’s presentation of net income (loss) and diluted earnings (loss) per share from ongoing operations are non-GAAP financial measures that exclude the effects of gains or losses associated with plant shutdowns, asset impairments and restr
Slide 29: Ongoing Operations Reconciliation: Twelve Month Periods
Tredegar Corporation GAAP to Non-GAAP Reconciliations A reconciliation to net income (loss) and diluted earnings (loss) per share from ongoing operations for the twelve month periods is shown below: (In millions, except per share data) 2022 2023 2024 2025 LTM 2026 Net income (loss) from continuing o
Slide 30: Ongoing Operations Reconciliation: Three Month Periods
Tredegar Corporation GAAP to Non-GAAP Reconciliations A reconciliation to net income (loss) and diluted earnings (loss) per share from ongoing operations for the three month periods is shown below: (In millions, except per share data) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net income (loss) from co
Slide 31: Note 4: Net Debt
Tredegar Corporation GAAP to Non-GAAP Reconciliations 4. Net debt is a non-GAAP financial measure that is not intended to represent debt as defined by GAAP, but is utilized by management in evaluating financial leverage and equity valuation. A calculation of net debt is shown below: June 30, Decembe
Slide 32: Note 5: EBIT from Ongoing Operations
Tredegar Corporation GAAP to Non-GAAP Reconciliations 5. Earnings before interest and taxes ("EBIT") from ongoing operations is a non-GAAP financial measure included in the reconciliation of segment financial information to consolidated results for the Company. It is not intended to represent the st