Sonoco Products Company · NYSE:SON
Sonoco Products — Q3 2026 Earnings Presentation
27 slides from Sonoco Products's earnings presentation, Oct 22, 2026
Slide 1: Quarterly Financial Review 3rd Quarter 2026
SONOCO Our Future is in FOCUS QUARTERLY FINANCIAL REVIEW 3 Quarter - 2026 October 22, 2026
Slide 2: Forward-Looking Statements
3 FORWARD-LOOKING STATEMENTS Non-GAAP Financial Measures Statements included herein that are not historical in nature, are intended to be, and are hereby identified as “forward- looking statements” for purposes of the safe harbor provided by Section 21 of the Securities Exchange Act of 1934, as amen
Slide 3: Conference Call Participants
Ww fe CONFERENCE CALL PARTICIPANTS Roger Schrum Howard Coker Paul Joachimezyk Head of Investor Relations President and CEO Chief Financial Officer
Slide 4: CEO Review
CEO REVIEW Howard Coker Our Future is in FOCUS “During the third quarter, our businesses faced a combination of external challenges. Drought conditions across parts of Europe and the U.S. impacted crop yields and pressured food can demand, while the impact of inflation on raw materials, freight, ene
Slide 5: Q3 2026 Results Summary
@ Revenue $2.04B ‘SONOCO gid Q uarter Flat excluding divestitures 2026 RESULTS SUMMARY What Went Well INDUSTRIAL * Sales up 5% from PY driven by price @ * Overall volume/mix slightly positive * Continued strong URB volumes (up 5.8% to PY) * NAURB trade tons up 9.8%; EMEA up 6.9% + NAMills ran at 94%
Slide 6: Dynamic Environment
DYNAMIC ENVIRONMENT EUNiné impacts pack season volumes Raw Materials, Freight, Diesel, Energy
Slide 7: Freight, Fuel and Raw Material Costs Are Climbing
FREIGHT, FUEL AND RAW MATERIAL COSTS ARE CLIMBING Diesel Fuel $6.51 $3.65 Price before the Middle East Conflict mCurrent occ $115, $60 Price before the Middle East Conflict = Current Euro/USD Exchange Rates 1.16 1.12 First Half of the Year Average 1 Q4 Projected Average Chasing inflation through 202
Slide 8: CFO Review
Our Future is in FOCUS “Our businesses once again generated strong cash flow in the third quarter, delivering ( F ‘@) $285 million despite seasonal working capital headwinds. Year-to-date cash flow includes $103 million of one-time tax payments related to gains on our 2025 divestitures. We continued
Slide 9: 2026 Results Summary 3rd Quarter
2026 RESULTS SUMMARY 3™ Quarter Na Segment Operating Revenue Adj. EBITDA j. Cash Flow Margin 17.2% *Prior-year third quarter results from the divested e, $18 million of EBITDA and 13 cents of EPS. Excluding those results, third quarter 2026 reven nd EPS decreased 6.7%.
Slide 10: Adj. EPS Bridge
Ss ADJ. EPS BRIDGE $1.92 fF $1.79 ($0.26) ($0.13) $0.12 $1.67 $0.02 Q3 2025 Actual Divestiture Comparable Operational Non-Operational Profitability Q3 2026 Actual Q3 2025 Performance *Non-Operational includes favorable interest +$0.12, SG&A +$0.06, unfavorable tax rate ($0.04). D&A ($0.06), Factorin
Slide 11: Cash Flow Generation
CASH FLOW GENERATION *Millions USD *Fav/(Unfav) Q3 2026 Operating Cash Flow: $285 (-2%) Q3 2026 Free Cash Flow: $234 (+2%) Cash Flow Generation ($M) mm Operating Cash Flow ($M) ~O- Free Cash Flow ($M) TAX EFFECTED EBITDA Market Slowdown * Weak volume drove $(10)M Cash from Q3 2025 vs. Q3 2025: $292M
Slide 12: Strong Liquidity, Balance Sheet
STRONG LIQUIDITY, BALANCE SHEET Strong Access to Outstanding Principal ($ in millions) Capital and Liquidity Debt Maturity Schedule Investment grade credit rating a Reduced net debt by $176M in Q3 9 ~3.4 % Cost of Debt* 1,500 BBB- sz- ‘agg mTerm Loan 4,250 2,000 ‘ie = Bonds Baa3 Moody’s BBB Fitch ~$
Slide 13: Segment Results
*Millions USD *Fav/(Unfav) Consumer Segment SALES ($M) ADJ. EBITDA ($M)' Q3 2025 Q3 2026 Q3 2025 Q3 2026 US Aerosol Cans volumes up 7% EMEA Fish & Infant Formula volumes up >10% Higher than expected energy & freight costs Accelerating footprint optimization 1) Q32025 Consumer Segment Adj. EBITDA of
Slide 14: YTD Profitability Performance
YTD PROFITABILITY PERFORMANCE Structural Transformation 3Y Target $150-200M $14M Commercial Excellence & Operational Improvement $2M 16 $8 $10 ° a a pe Qi Q2 Q3 EST FY 2026 Target rofitability trending in line with YTD Targe 24M VP ] $ Q alized Savings are 33% of minimum for 3Y
Slide 15: Financial Outlook: Status Versus Revised FY2026 Guidance
Status Versus Revised FY2026 Q2 Guidance Guidance Revenue Revised $7.20B - $7.40B ) -° Adj EBITDA $1.20B - $1.25B Revised - FINANCIAL djusted Adjusted EPS Revised $5.30 . $5.50 ) Operating j Cash Flow Revised $600M - $650M ) OUTLOOK
Slide 16: Aligning to One Consumer Packaging Segment
Ww ALIGNING TO ONE CONSUMER PACKAGING SEGMENT Ernest Haynes Named Consumer Segmentr New Global Consumer Team in Place Accelerating Footprint Optimization Focused on Driving Cost Recovery Seeding Future Growth
Slide 17: Industrial Remains Resilient
2. INDUSTRIAL REMAINS RESILIENT p> Trade Tons Strong ¢ Mill Utilization rates to ~mid-90s ¢ Expect strong trade tons volume in Q4 > Reels Demand Remains Strong > Price/Cost and Freight Recovery Begins in Q4 and 2027
Slide 18: We're Lagging Inflation, But Not Standing Still
6 WE’RE LAGGING INFLATION, 7 BUT NOT STANDING STILL Actions We Are Taking April URB price increase ($50/ton) July URB price increase ($60/ton) September EMEA URB price increase (60 Euro/ton) Freight surcharge opportunities
Slide 19: Q3 Was a Challenge, But Our Opportunities Begin Now
wo Automation In Reels Plants Paper Can Growth Around the World Q3 WAS A CHALLENGE, BUT OUR OPPORTUNITIES BEGIN NOW Extraordinary Voyages Tins Orbit” now certified as Easy to Use 19
Slide 20: Appendix
Our Future is in APPENDIX Quarter Ending: September 27, 2026 (0) SONOCO
Slide 21: Q3 Financial Results
6. Q3 FINANCIAL RESULTS 2026 Net Sales (13%) Adj. EPS and exclude the impact of Discontinued Operations
Slide 22: EPS Summary
EPS SUMMARY 2026 2025 2026 2025 GAAP EPS $ (7.36) $ 1.23 $ (5.63) $ 6.74 Addback for: Acquisition and Divestiture Related Costs, Net 0.01 0.07 0.09 0.47 LIFO Reserve Change - - 0.04 0.01 Acquisition intangibles amortization expense 0.36 0.39 1.06 1.06 Restructuring/Asset impairment charges, net 8.54
Slide 23: P&L Summary
P&L SUMMARY | Beer / Worse) gecoees 2026 2025* $ % Net Sales 2,042 2,131 (90) (4.2)% Gross Profit 405 468 (62) (13.3)% SG&A Expenses, Net of Other Income F 137 159 22 13.8% Operating Profit 268 308 (40) (13.1)% Other non-Operating expense (8) (8) (1) 9.7% Net Interest 41 57 15 26.8% Income before In
Slide 24: Sales & Adj. EBITDA Bridge
SALES & ADJ. EBITDA BRIDGE Dollars in millions Q3 2025 Sales 1,438 614 2,131 Volume / Mix (46) 2 - : (44) Price 16 30 = > 46 Acq. / Divestitures - - (79) > (79) FX/ Other (12) = eS . (12) Q3 2026 Sales $ 1,396 $ 646 $ - $ - $ 2,042 Q3 2025 Adj. EBITDA $ 260 $ 127 $ 16 $ (16) $ 386 Volume / Mix (10)
Slide 25: Segment Analysis
SEGMENT ANALYSIS Dollars in millions NET SALES SEGMENT OPERATING PROFIT 2026 2025* % Chg 2026 2025* % Chg Consumer Packaging 1,396 1,438 (2.9)% 179 209 (14.6)% Industrial Paper Packaging 646 614 5.2% 88 94 (6.2)% All Other = 79 (100.0)% le 3 ).. 4 14 a (100.0)% Segment Total (excl. Corp) 2,042 2,131
Slide 26: Condensed Balance Sheet
CONDENSED BALANCE SHEET 26 i= Note: Due to rounding, individual items may not sum appropriately September 27,2026 December 31, 2025 Change $ Dollars in millions Cash and cash equivalents 183 378 (195) Trade accounts receivable, net of allowances 1,118 843 275 Other receivables 153 179 (28) Inventori
Slide 27: Sonoco Investor Relations Contact
» ® SONOCO ROGER SCHRUM Head of Investor Relations and Communications Email: roger.schrum@sonoco.com Office Phone: 843-339-6018 Cell Phone: 843-615-8650
Sonoco Products Company — Q3 2026 Earnings Presentation on 6ix