Ccl Industries Inc. Class A · TSX:CCL.A
Ccl Industries Inc. Class A — Q1 2026 Earnings Presentation
16 slides from Ccl Industries Inc. Class A's earnings presentation, May 14, 2026
Slide 1: Investor Update 1st Quarter 2026
Investor Update 1st Quarter 2026 (Unaudited) May 14, 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information and forward-looking statements, as defined under applicable securities laws, (hereinafter collectively referred to as “forward-looking statements”) that involve a number of risks and uncertainties. Forward-looking statements include a
Slide 3: Summary
Summary Three Months Ended Periods Ended March 31st (millions of CDN $) 2026 2025 Change (ex. FX) Sales $1,939.0 $1,887.1 +2% (1) Operating Income $ 317.5 $ 316.9 Net Finance Cost $ (16.7) $ (18.5) Corporate Expenses $ (21.8) $ (22.7) Net Earnings $ 204.9 $ 207.4 (1%) (1) EBITDA $ 415.0 $ 408.0 +1%
Slide 4: Earnings Per Share
Earnings Per Share Periods Ended March 31st (Per Class B share) Three Months Ended 2026 2025 Net earnings - basic $ 1.18 $ 1.18 Net loss from restructuring $ 0.02 - and other items Adjusted basic earnings(1) $ 1.20 $ 1.18 Share Count Reduction | +$0.02 Interest | +$0.01 Tax Rate | -$0.01 Page 4
Slide 5: Free Cash Flow From Operations
Free Cash Flow From Operations (2) Periods Ended March 31st (millions of CDN $) $889.5 $652.6 $37.3 $39.1 Q1 2026 Q1 2025 LTM Mar 2026 LTM Mar 2025 Page 5
Slide 6: Returned to Shareholders
Returned to Shareholders Periods Ended March 31st (millions of CDN $) $160.0 • $129.8 million returned to shareholders $140.0 - $67.5 million share repurchases - $62.3 million dividends paid $120.0 $100.0 • 779,391 Class B shares purchased for $100.0 $67.5 cancellation $80.0 • Transitioned from a di
Slide 7: Cash & Debt Summary
Cash & Debt Summary (millions of CDN $) March December Debt Maturity 2026 2025 (millions of CDN $) USD Bond $835 Bonds (US$600.0MM, US$500.0MM, $ 1,830.8 $ 1,809.6 & C$300.0MM) Syndicated term facility - - Syndicated Credit Syndicated credit facility (€126.1MM, Facility 347.6 247.5 $348 C$145.0MM) L
Slide 8: Capital Spending
Capital Spending Periods Ended March 31st (millions of CDN $) 120 • $98.7 million net of disposals for Q1 2026 105.2 100 99.3 • Excludes Right-of-Use asset additions and depreciation (IFRS 16 – Leases) 78.7 80 73.0 • Approximately $470 million net capex estimated for 2026 60 Capital Spending Depreci
Slide 9: CCL
CCL Periods Ended March 31st (millions of CDN $) Three Months Ended 2026 2025 Change (ex. FX) Sales $1,251.8 $1,200.3 +3% Operating Income(1) $210.8 $200.3 +4% % Sales 16.8% 16.7% EBITDA(1) $291.1 $278.0 +4% % Sales 23.3% 23.2% • 3.1% organic growth: low single digit decline in North America & Middl
Slide 10: Avery
Avery Periods Ended March 31st Three Months Ended (millions of CDN $) 2026 2025 Change (ex. FX) Sales $270.0 $258.8 +5% Operating Income(1) $52.2 $52.2 +1% % Sales 19.3% 20.2% EBITDA(1) $62.5 $62.3 +1% % Sales 23.1% 24.1% Europe & Asia • Strong quarter for Direct-to-Consumer globally, especially RFI
Slide 11: Checkpoint
Checkpoint Periods Ended March 31st (millions of CDN $) Three Months Ended 2026 2025 Change (ex. FX) Sales $240.5 $241.1 +1% Operating Income(1) $31.7 $37.3 (15%) % Sales 13.2% 15.5% EBITDA(1) $46.3 $51.2 (10%) % Sales 19.3% 21.2% • Merchandise Availability (“MAS”) had another good quarter in Europe
Slide 12: Innovia
Innovia Periods Ended March 31st Three Months Ended (millions of CDN $) 2026 2025 Change (ex. FX) Sales $176.7 $186.9 (5%) Operating Income(1) $22.8 $27.1 (14%) % Sales 12.9% 14.5% EBITDA(1) $36.5 $38.8 (5%) % Sales 20.7% 20.8% • Strong results in Poland on label films growth, including Ecofloat Eur
Slide 13: Outlook Commentary Q2
Outlook Commentary Q2 • Overall CCL Segment orders solid, significant inflation to manage; Sleever acquisition to close late Q2 • Avery direct-to-consumer growth to continue • Apparel orders expected to improve in coming quarters at Checkpoint, confidence in RFID continues • Innovia demand strong in
Slide 14: Questions
Questions Page 14
Slide 15: Appendix: Definitions
Appendix: Definitions (1) Non-IFRS measure; see MD&A dated March 31, 2026 for definition. (2) Free Cash Flow from Operations (non-IFRS measure) = cash from operating activities less capital expenditures, net of proceeds from sale of property, plant and equipment. Page 15
Slide 16: Appendix: Segment Reporting
Appendix: Segment Reporting CCL Segment (“CCL”) CCL is a converter of pressure sensitive and extruded film materials for a wide range of decorative, instructional, security and functional applications for government institutions and large global customers in the consumer packaging, healthcare, chemi