Tredegar Corporation · NYSE:TG
Tredegar — Shareholder Meeting (2026)
37 slides from Tredegar's shareholder meeting presentation, 2026
Slide 1: 2026 Annual Meeting
2026 ANNUAL MEETING
Slide 2: Annual Meeting Business Report
Annual Meeting Business Report Greg Pratt Chairman of the Board of Directors
Slide 3: 2025 Annual Meeting Agenda
2025 Annual Meeting Agenda • Annual Meeting Business Report Greg Pratt, Chairman of the Board of Directors • Introduction and Highlights Bapi DasGupta, President and Chief Executive Officer • Tredegar Financial Report Frasier Brickhouse, Vice President and Chief Financial Officer • Bonnell Aluminum
Slide 4: Annual Meeting Business Report
Annual Meeting Business Report Greg Pratt Chairman of the Board of Directors
Slide 5: Introduction and Highlights
Introduction and Highlights Bapi DasGupta President and Chief Executive Officer
Slide 6: Forward-Looking Statements & Non-GAAP Measures
2026 Annual Meeting Forward-Looking Statements & Non-GAAP Measures 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 o
Slide 7: Recap of 2025 Results
Recap of 2025 Results Deliver long term shareholder value ● Safety Excellence: Excellent safety performance across company — both Bonnell and High Performance Films manufacturing plants achieved Total Recordable Incident Rate (TRIR) < 1.0 ● Strong Financial Performance: Both business units had stron
Slide 8: First 100 Day Observations and Takeaways
First 100 Day Observations and Takeaways Deliver long term shareholder value ● People & Culture: TG is powered by “Salt of the Earth” people who operate with high integrity and ethical standards committed to excellence ● Customer Leadership: Both business units are customer-forward industry leaders
Slide 9: 2026 Key Focus Areas...It's a new day!
2026 Key Focus Areas...It’s a new day! Deliver long term shareholder value ● Culture & Safety: Build on “High Performance Team” culture as “One Tredegar” with Safety as #1 priority ● Revenue Growth: Increase top line growth, profitability and cash flow ● Operational Excellence: Cost and complexity r
Slide 10: Three Year Road Map…One Tredegar
Three Year Road Map…”One Tredegar”, Customer Forward, High Performance Team with Unity of Purpose and Principles Deliver long term shareholder value YEAR 1 YEAR 2 YEAR 3 Tredegar Stabilize and Increase Near Optimize and Grow Sustain Growth Term Value synonymous Trajectory • Portfolio optimization wi
Slide 11: Tredegar Financial Report
Tredegar Financial Report Frasier Brickhouse Vice President, Chief Financial Officer and Treasurer
Slide 12: Consolidated EBITDA & EPS from Ongoing Operations
Consolidated EBITDA & EPS from Ongoing Operations* ($ Millions Except EPS Data) Key Highlights • In 2025, Bonnell delivered year- $58.5 over-year improvement despite challenging market conditions, $50.5 tariff-related cost pressures and a $0.74 decline in new orders following the mid-year increase i
Slide 13: Consolidated EBITDA & EPS from Ongoing Operations – Q1 2025 vs Q1 2026
Consolidated EBITDA & EPS from Ongoing Operations* – Q1 2025 vs Q1 2026 ($ Millions Except EPS Data) Key Highlights $0.15 • Q1 2026 earnings increased despite relatively flat EBITDA, as stronger Bonnell EBITDA was offset by lower $0.10 HPF EBITDA, with additional benefit $11.5 $11.7 from lower inter
Slide 14: Net Debt and Net Leverage
Net Debt and Net Leverage* ($ Millions) Key Highlights • The balance sheet remains $133 strong, with net leverage of 0.5x as of March 31, 2026. Terphane Sold 11/1/24 3.9x • The improvement since 2023 reflects the 2024 sale of Terphane and EBITDA growth in 2024 and $55 2025. 1.1x $28 $31 0.5x 0.5x 20
Slide 15: Bonnell Aluminum Business Update
Bonnell Aluminum Business Update Brook Hamilton President – Bonnell Aluminum
Slide 16: Our Business: Aluminum Extrusions
Our Business: Aluminum Extrusions Building & Construction, Automotive, Machinery & Equipment, Fabrication, Consumer Durables, Renewable Energy and more… 16
Slide 17: Additional Product Lines
Additional Product Lines Structural and industrial Aluminum flooring aluminum framing trims and transitions systems 17
Slide 18: Safety Performance
Safety Performance Total Recordable (TRIR) & Lost Time Incident Rates (LTIR) : Extrusion Industry Avg 3.9 2.8 (42) 2.2 2.2 2.2 (35) (37) (37) 14.9 1.9 2 0.7 (10) 0 . # -_ wo o Lined o oa So > of N oO s wo o S S S S S Ss $s s$ s $ $ $ $ N N N N N N N N N N N N N ® ——TTRIR —*—LTIR ——=Industry Average
Slide 19: Financial Performance
Financial Performance Shipment Volume EBITDA (million pounds) ($ million) 41.3 $16.8 40.7 $15.7 37.9 37.2 34.9 35.8 35.2 33.8 34.6 $12.5 $12.9 $11.7 $9.7 $9.3 $9.2 $6.2 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 19
Slide 20: Challenges – Tariffs & Aluminum Supply
Challenges – Tariffs & Aluminum Supply The combination of tariffs and global instability is creating record-high metal input costs, ongoing supply risks, and planning challenges for aluminum extrusions manufacturers. Section 232 Tariffs: • New orders fell 20% after tariffs increased to 50% in June 2
Slide 21: Challenges – Aluminum Supply
Challenges – Aluminum Supply Conflict-drive disruptions in the Strait of Hormuz have created critical supply constraints and raised costs, contributing to historically low U.S. inventory levels. Bonnell Advantages vs. Other Extruders • In-house billet casting capabilities - Carthage and Newnan manuf
Slide 22: Outlook for 2026
Outlook for 2026 Overall growth is expected to continue, but ongoing economic uncertainty calls for cautious optimism: • Strong growth drivers include AI investment and capital spending; Federal Reserve is expected to hold rates steady • Stronger-than-anticipated demand in data centers and residenti
Slide 23: High Performance Films Business Update
High Performance Films Business Update Bapi DasGupta President and Chief Executive Officer
Slide 24: High Performance Films
High Performance Films • Rebranded Business Unit as High Performance Films to reflect technology and market leadership • Surface Protection: High performance films used in display industry to protect sensitive components (e.g., Optical Films) during manufacturing and/or shipping. Value proposition -
Slide 25: High Performance Films: Excellent Safety Translates to Excellent Quality
High Performance Films Excellent Safety Translates to Excellent Quality • Guangzhou Plant has surpassed 2130 days consecutive days without a recordable injury • Pottsville experienced one minor injury in 2025 concluding a 700-day injury-free streak – YTD >230 days safe • Sustained 10-year TRIR perfo
Slide 26: High Performance Films: End Markets/Applications
High Performance Films End Markets/Applications 26
Slide 27: High Performance Films: Financial Performance
High Performance Films Financial Performance EBITDA ($ million) Shipment Volume (million pounds) 10.1 10.5 7.6 7.5 7.2 10.0 6.9 6.7 9.8 5.9 5.7 9.6 9.6 9.7 5.1 9.2 9.1 9.0 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 27
Slide 28: Growth Opportunities - Adjacencies
High Performance Films Growth Opportunities - Adjacencies Automotive Displays Rearview Mirror • 2026-2030 CAGR 5-8%* HUD • Smart Cockpit integration Sideview Mirror • Infotainment systems • Intelligent sunroofs • Transparent displays • Surface coatings Instrument Cluster Center Info. Display Passeng
Slide 29: Growth Opportunities - Adjacencies
High Performance Films Growth Opportunities - Adjacencies ADVANCED FEATURES Surface Coating Films Anti-Shatter Performance & Sustainability • Includes Antiglare, Low • Niche market for PE based • Optennia opens opportunities reflection, hard coatings, protective films in packaging markets requiring
Slide 30: Looking Ahead
High Performance Films Looking Ahead Tailwinds: • LCD Displays will continue to have the largest area share (95% by 2030)…sweet spot for surface protection films • New display technology MiniLEDs continue to grow and displace OLEDs in TVs…also growing in monitors, automotive • Automotive displays co
Slide 31: Questions
Tredegar ns > \ Me Questions ee
Slide 32: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations
Slide 33: Reconciliation of Net Debt
GAAP to Non-GAAP Reconciliations Tredegar Corporation and Subsidiaries Reconciliation of Net Debt Note A. Net debt (total debt in excess of cash, cash equivalents and restricted cash), a non-GAAP financial measure, is not intended to represent total debt as defined by GAAP. Net debt is utilized by m
Slide 34: Reconciliation of Net Leverage Ratio
GAAP to Non-GAAP Reconciliations Tredegar Corporation and Subsidiaries Reconciliation of Net Leverage Ratio Note B. Net leverage ratio is a non-GAAP financial measure. It is not intended to represent the stand-alone results for Tredegar under GAAP and should not be considered as an alternative to ne
Slide 35: Reconciliation of Credit EBITDA
GAAP to Non-GAAP Reconciliations Tredegar Corporation and Subsidiaries Reconciliation of Credit EBITDA Note C. The computation of Credit EBITDA, as defined in the ABL Facility, is presented below. Computations of Credit EBITDA (as defined in the ABL Facility) as of and for the Twelve Months Ended (i
Slide 36: Reconciliation of Consolidated EBITDA from Ongoing Operations
GAAP to Non-GAAP Reconciliations Tredegar Corporation and Subsidiaries Reconciliation of Consolidated EBITDA from Ongoing Operations Note D. Tredegar’s presentation of Consolidated EBITDA from ongoing operations is a non-GAAP financial measure that excludes the effects of gains or losses associated
Slide 37: Reconciliation of diluted EPS from Ongoing Operations
GAAP to Non-GAAP Reconciliations Tredegar Corporation and Subsidiaries Reconciliation of diluted EPS from Ongoing Operations Note E. Tredegar’s presentation of diluted earnings (loss) per share from ongoing operations is non-GAAP financial measures that exclude the effects of gains or losses associa