Slide 1: Istanbul site visit
Istanbul site visit September 22-23, 2025
Slide 2: Agenda
Agenda Monday, September 22 • 19:00 – Presentations at Sheraton Esenyurt Hotel • 20:00 – Dinner with management at the hotel Tuesday, September 23 • 8:15 – Bus transport from hotel to site • 9:00 – Site tour • 11:00 – Q&A and wrap-up • 11:30 – Lunch • Approx. 12:00 – Bus transport to Istanbul Airpor
Slide 3: Huhtamaki strategy
1 Huhtamaki strategy Ralf K. Wunderlich President & CEO 3 September 22-23, 2025 Huhtamaki site visit | Istanbul
Slide 4: Our long-term financial ambitions
Our long-term financial ambitions Group Segments Comparable Adj. EBIT Absolute EPS growth Adj. RONA growth margin Foodservice 4-5% 10-12% 13-15% Packaging 5-6% 10-12% 13-15% 2-3x Net debt / North America 5-6% 11-12% 15-17% Comparable Adjusted EBIT Adjusted Adjusted growth margin ROI EBITDA Flexible
Slide 5: Actions taken in our focus areas
Actions taken in our focus areas Profitable growth Disciplined capital Accountability and 1 supported by all levers 2 allocation 3 speed of execution Organic growth Capex moderated but still above depreciation Empower segments with clear accountability to • Focused approach to enable our customers a
Slide 6: Clear steps to drive value creation
Clear steps to drive value creation Profitable growth; ambition of 5-6% annual Solid cash flow growth and 10-12% adj. EBIT margin • Capex for organic growth • Profitable growth • Bolt-on acquisitions for inorganic growth • Improved working capital • Disciplined capital allocation Return capital to s
Slide 7: Foodservice Packaging, North America, Flexible Packaging, Fiber Packaging
Foodservice Packaging North America Flexible Packaging Fiber Packaging Customers • QSR’s and cafe’s, • QSR’s, mainly Tier 2 & 3 • QSR’s (cup carriers) strong with large multinationals • FMCG • Egg and fruit producers Markets • North America • Europe • Europe • MEA • MEA • APAC • APAC Technologies •
Slide 8: Ice cream
Ice cream Whatever the One category, flavor, whatever endless the form — we possibilities pack it with purpose From cones Innovation in to cups, tubs every layer. to sticks — Packaging that we’ve got it elevates the covered experience 8 September 22-23, 2025 Huhtamaki site visit | Istanbul
Slide 9: Flexible Packaging segment
2 Flexible Packaging segment Axel Glade President, Flexible Packaging 9 September 22-23, 2025 Huhtamaki site visit | Istanbul
Slide 10: Axel Glade, President, Flexible Packaging
Axel Glade President, Flexible Packaging • Born 1969, German citizen • Education: Dipl. Ing. (FH) • Primary working experience: • Constantia Flexibles, EVP Film Division & CEO Constantia Pirk, Member of the Executive Board (2020-2025); • Constantia Flexibles, various global leadership position & CEO
Slide 11: Flexible Packaging
Flexible Packaging State-of-the-art solutions for food, beverage, petfood, ~EUR 95 bn total health care, and personal care segments Food, addressable Beverages Customer examples market* & Pet food 59% of sales 22 Home & manufacturing Personal sites 23% of sales Key competitors Healthcare 7,300 & emp
Slide 12: Markets
Markets Eastern Europe Market size 3bn Western Europe Growth* 5% Market size 13bn North America India Growth* 4% Market size 31bn Market size 7bn Growth* 4% Growth* 8% South-East Asia & Oceania Middle East & Africa (excl. India) Market size 4bn Market size 8bn Growth* 4% Growth* 5% Central & South A
Slide 13: Flexible packaging is key to modern standards of living
Our everyday life would look very different without packaging. Flexible packaging is key to modern standards of living Flexible packaging protects various necessities of everyday life, including food, home and personal care products It accounts for ~60% of all food packaging globally Flexible packag
Slide 14: Decades of expertise combined with cutting-edge technology
Huhtamaki Flexible Packaging brings decades of expertise combined with new cutting-edge technology Strong printing Advanced coating Blown and cast film Many specialized capabilities technologies extrusion capabilities, including • Flexo, rotogravure, digital and • Vacuum deposition coating • Tube la
Slide 15: Leading the change for recyclable flexible packaging
Leading the change for recyclable flexible packaging From To mono-material solutions complex and non-recyclable designed to be recycled Complex Simple Multi-material Mono-material Non-recyclable Weight reduction e.g., PET /Alu/PE PET/PET Met/PE CO2 reduction Paper/PET Met/PE PET/PE PET/EVOH PE All s
Slide 16: Redefining flexible packaging with sustainability at its core
We are redefining flexible packaging with sustainability at its core blueloop PE blueloop Paper blueloop PP-Retort blueloop Tube • Above 90% mono-material, • 90% fiber share, made from • Above 90% mono-material, • Mono-material solutions options up to 95% FSC certified paper for demanding applicatio
Slide 17: Our actions are supporting profitability
Our actions are supporting profitability Net sales (EURm) and comparable growth Adj. EBIT margin and adj. RONA 1,800 35% 10.5 % 10.1% 1,558 10.0 % 1,600 30% Elif 1,400 acquisition 1,341 1,323 25% 9.5 % 1,166 1,200 20% 9.0 % 1,051 14% 1,000 15% 8.5 % 8.3% 8.0% 8.0% 800 7% 661 10% 8.0 % 7.7% 639 600 1
Slide 18: Turning around India and Türkiye our key priority
Turning around India and Türkiye our key priority Challenges seen • Türkiye – macroeconomic instability and internal challenges • India – production footprint, internal challenges and competitive situation Actions taken • Turnaround teams in place in both countries since H1 2025 • India: footprint o
Slide 19: The Flexible Packaging segment supports our strategy execution and financial ambitions
The Flexible Packaging segment supports our Ambition strategy execution and financial ambitions Profitable growth Strengthen relations to regional and 6-7% supported by all local customers Comparable Improve mix through higher share of growth levers blueloop 9-11% Disciplined capital Moderated inves
Slide 20: Thank You
Thank You Huhtamaki IR ir@huhtamaki.com