Winpak Ltd. · TSX:WPK
Winpak — Shareholder Meeting (May 2025)
40 slides from Winpak's shareholder meeting presentation, May 15, 2025
Slide 1: Annual Shareholders Meeting
Annual Shareholders Meeting President & CEO Presentation May 15, 2025 1
Slide 2: Disclaimer
Disclaimer Certain statements made in the following discussion contain forward-looking statements including, but not limited to, statements concerning possible or assumed future results of operations of the Company. Forward-looking statements represent the Company's intentions, plans, expectations a
Slide 3: To Our Valued Shareholders & Others
To Our Valued Shareholders & Others Winpak has established and published a Disclosure Policy. This Policy actively encourages meetings by investors, potential investors and others with Winpak's Spokespersons. When conducting such meetings, Spokespersons must not disclose material information that ha
Slide 4: 2024 Results in Review
Ww W | WINPAK IT°’S OUR NATURE TO PROTECT™ 2024 Results in Review
Slide 5: Revenue Comparison
Revenue Comparison $US Millions 2024 2023 Decrease $1,131 $1,141 0.9% Ten-Year Compound Average Growth Rate (CAGR): 3.7% 5
Slide 6: Geographic Markets 2024
Geographic Markets 2024 Revenue United States Canada Other 6
Slide 7: Products & Markets 2024
Products & Markets 2024 Sales Flexible Packaging Rigid Container & Flexible ... Packaging Machines 7
Slide 8: Net Income Comparison 2024
Net Income Comparison 2024 $US Millions 2024 2023 Increase $149.5 $148.1 $1.4 1.0% Ten-Year Compounded Average Growth Rate (CAGR): 6.7% 8
Slide 9: 2024 Net Income Compared To 2023
2024 Net Income Compared To 2023 $US Millions 9
Slide 10: EBITDA and EBITDA Margin 2024
E BITDA and E BITDA Margin 2024 ($US Millions, %-age) 10
Slide 11: 2024 Results Recap
2024 Results Recap. $US Millions Revenue E BITDA Modified Specialty Printing Atmosphere & 2024: $1,131 vs 2024: $240.8 vs Growth of 7% in volume Flexibles 2023: $1,141 2023: $228.5 Growth of 4% in volume Decrease of $(10.0) or (0.9)% Increase of $12.3 or 5.4% Overall, adjusted volumes in 2024 increa
Slide 12: First Quarter Results 2025
First Quarter Results 2025 12
Slide 13: Quarter 1 Revenue Comparison
Quarter 1 Revenue Comparison 2025 vs 2024 $US Millions Decrease 2025 2024 $ % $284.8 $276.8 $8.0 2.9% Volumes in Q1 2025 were 2.5 percent higher than the same period in 2024, with volume growth of 7 percent in modified atmosphere packaging, overall, 5 percent In Flexibles and 19 percent in Machinery
Slide 14: Net Earnings Comparison
Net E arnings Comparison Q1 E arnings 2025 vs Q1 E arnings 2024 14
Slide 15: Raw Materials and Foreign Exchange Index 2025
Raw Materials and Foreign Exchange Index 2025 15
Slide 16: Capital Projects
Ww W | WINPAK IT°’S OUR NATURE TO PROTECT™ Capital Projects
Slide 17: CAPEX - Investments Review
CAPE X - Investments Review Over the past decade, CAPEX of $695 million has averaged 6.7% of revenue. 17
Slide 18: Company Overview: Sustainability Values and Pillars
Company Overview Sustainability Values and Pillars IT'S OUR NATURE TO PROTECT™ Provide the best packaging solutions for people and planet 18
Slide 19: Our Sustainability Transformation
Our Sustainability Transformation Changing The Perspective Through Leadership And Partnerships CDP Leadership Status Verification & Science-Based Targets Customer & Retail Partners Winpak files its Scope 1, 2 and 3 disclosure for Next steps: Working with leading brands including PepsiCo, "climate ch
Slide 20: Our Sustainability Transformation
Our Sustainability Transformation Change the Perspective: Target 2030: SBTi Drastic Carbon Reduction Base Year 2022 Target Year 2030 From 2024 onwards: SBTi Reduction Percentage Scope 1 40% Scope 2 20% Scope 3 23% 20
Slide 21: Comprehensive Sustainable Solutions
Comprehensive Sustainable Solutions Addressing key sustainability challenges for modern supply chain Post Consumer Recycled Content PE/PP Trays & Cups, PET Laminates, PET Semi-rigid, PE Forming & N/F films Recyclable & Recycle Ready PE/PP Trays, FlexPod™, SqueezePod™, RePouch, ReForm/ReTop, ReFlow R
Slide 22: Winpak Division Winnipeg, MB
Winpak Division Winnipeg, MB North Side E xpansion 22
Slide 23: Winpak Division Winnipeg, MB
Winpak Division Winnipeg, MB North Side E xpansion April 2024 April 2025 • 210,000 sq. ft. expansion • Room for 3 major production lines • R&D & Application Center • Project on-time and on-budget • Synergy® Lab • First production line: start-up Q1 2026 23
Slide 24: New Fourth Extrusion Coating Line
New Fourth E xtrusion Coating Line 2024 24
Slide 25: New Flexo Printing Press
New Flexo Printing Press 2024 25
Slide 26: Products: EcoForm
Products E co-Form™ - Renewables (Thermoplastic Starch, TPS) Our innovative sustainable packaging solution offering multiple environmental benefits: Versatile Applications Research Partnership High Performance Low Carbon Impact EcoForm – TPS based forming and lidding films Collaboration with Nationa
Slide 27: American Biaxis Inc. Winnipeg: BOPA Expansion
American Biaxis Inc. Winnipeg: BOPA 3 E xpansion The image shows an aerial view of the facility with color-coded expansion areas. The red section indicates the BOPA 3 expansion area, while the green section shows the existing facility. 27
Slide 28: Examples of Current BOPA Uses
American Biaxis Inc. E xamples of Current BOPA Uses 28
Slide 29: Winpak Heat Seal Vaudreuil Expansion
Winpak Heat Seal Vaudreuil E xpansion Planned expansion of the Vaudreuil site, adjacent land acquisition 29
Slide 30: Products: EcoSeal
Products EcoSeal - Recyclable Polypropylene Lidding Solution 100% Recyclable Solution Consumer-Friendly Design Meeting Market Demands A sustainable 100% polypropylene lid that Innovative design allows consumers to keep EcoSeal is Winpak's response to increasing enhances recyclability while preventin
Slide 31: WCG – WIICARE / WINSPEED Site Acquisition
WCG – WIICARE / WINSPEED Site Acquisition Northvale, NJ 31
Slide 32: Winpak Portion Packaging Sauk Village, IL
Winpak Portion Packaging Sauk Village, IL 32
Slide 33: New In-Mold-Label Injection Molding Center
Winpak Portion Packaging New In-Mold- Label (IML) Injection Molding Center 33
Slide 34: FlexPod and SqueezePod Family
FlexPod and SqueezePod Family Recyclable, Minimalist, High Barrier and Functionality 34
Slide 35: Barrier Spout Technology (Patented)
Barrier Spout Technology (Patented) Consumer-Centric Features Advanced barrier technology designed for safety, convenience, and sustainability Advanced Barrier Technology Tethered, Choke-Proof Cap Integrated Spill-Resistant Recycling Compatibility Design Specifically designed for food Enhanced safet
Slide 36: Overview and Forward-Looking Statements
Overview and Forward-Looking Statements 36
Slide 37: Company Overview: Strong Financial Position
Company Overview Strong Financial Position Debt- free Long-term debt fully retired in Q1/09. $356.5 million net cash as of March $1,268 million in shareholders' equity 2025. as of March 2025. Return of capital to shareholders Quarterly dividend increased from CDN CDN $3.00 per share special dividend
Slide 38: Company Overview: Looking Forward
Company Overview Looking Forward Tariffs Under the United States-Mexico-Canada Agreement (USMCA), all Company products except foil-based items are exempt from tariffs. Raw Materials Raw materials decreased 4.3% in 2024 and increased 2% in early 2025. With 75% of Winpak's revenues indexed to raw mate
Slide 39: Looking Forward (Cont.)
Company Overview Looking Forward (Cont.) Winpak's Core business is very stable Over 90% of sales to food and healthcare markets provide resistance Top 15 customers represent ~40% of revenues, with largest customer to economic downturns. accounting for 7.9% in 2024 (down from 9.0% in 2023). Capital s
Slide 40: Thank you for your participation.
Thank you for your participation.