Sig Group Ag · SIX:SIGN
Sig — Investor Day (October 2025)
58 slides from Sig's investor day presentation, Oct 30, 2025
Slide 1: Investor Update
Investor Update SIG Group AG October 30, 2025
Slide 2: Alternative performance measures
Alternative performance measures - SIG – for better
Slide 3: Investor Update - Agenda for today
Investor Update - Agenda for today 01 02 03 04 05 06 Introduction Strategy Market SIG: The Financial Q&A Execution Opportunities Innovation Implications Leader ia, Ola Rollén, Anne Erkens, Christoph Wegener, Gavin Steiner, Anne Erkens, Chairman CFO, interim CEO CMO CTO CFO, interim CEO GS) 3
Slide 4: Introduction
O1 Introduction Ola Rollén Chairman
Slide 5: Introduction
Introduction Ola Rollén, Swedish citizen + CEO Hexagon AB: 2000 - 2022 + Chairman Hexagon AB: 2023 - 2026 + CEO of own investment company, Greenbridge S.A. + Chairman SIG Group since April 2025 Why SIG? + Mission: Nutritious food and beverage products to consumers in a safe, sustainable and affordab
Slide 6: Why am I here today?
Why am | here today? Search profile CEO — Previous CEO experience - Sufficient scale > €1B - Global experience - Engineering systems sales/ capital goods background - Execution experience, successful turnaround, profitable expansion - Capital markets experience
Slide 7: What have I learnt over the past months
What have | learnt over the past samen The strengths ...
Slide 8: SIG's growth is fueled by long term secular trends
SIG’s growth is fueled by long term secular trends Growing consumer base Growing demand for dairy +2.5B +380M tons urban population expected increase in milk by 2050 consumption by 2050 Shift towards u protein rich foods Need for +36M tons sustainable packaging Demand for annual demand foodservice a
Slide 9: Our aseptic technology makes the world better for millions of people
Our aseptic technology makes the world better for millions of people and improves the environment Accessible daily nutrition Sustainability Waste reduction longer life, lower loss Up to 18 months shelf-life ~20% energy savings Up to 10% reduction in food Safe, high-quality food ~60% CO, reduction? w
Slide 10: SIG's Aseptic Carton business
, *% ° Sy SIG’s Aseptic Carton business is We are one of 2 leading Aseptic Carton system players We win through... a Unique sleeve-fed system solution Total cost of ownership advantage - speed, flexibility, and differentiation Sustainability leadership by removing y ed aluminum & increasing paper co
Slide 11: Exciting growth opportunities powered by our technology
Exciting growth opportunities powered by our technology Gaining share Creating a Leading globally with new market for transformation differentiated Aseptic Spouted towards automated, offering Pouch recyclable aseptic foodservice systems
Slide 12: We have an experienced management team to drive growth
We have an experienced management team to drive growth Ge @ Ann-Kristin Erkens Christoph Wegener Gavin Steiner Fabio Grazioli Chief Financial Officer Chief Markets Chief Technology Chief Supply Chain and interim CEO Officer Officer Officer José Matthijsse Abdelghany Eladib Ricardo Rodriguez Angela L
Slide 13: ... and the challenges ...
.. and the challenges ... SIG Terra MidiBloc alu-free full barrier
Slide 14: SIG €3.4B investments over '21-'24
SIG €3.4B investments over '21-'24 have a r i ALE Capital allocated - 2021 to 2024 (€B) FCF (€M) po ~0.2 i ~“t F Net capex R&D opex Total 2020 2024 E GID Note: Net capex includes PP8E, filer capex &lease payments; MBA includes payments for Scholle IPN and Evergreen acquistionand JV MEA
Slide 15: M&A in retrospect
M&A in retrospect Bag-in-Box Attractive foodservice growth opportunities, but currently softness in US out of home dining market Gaps in product offering and go-to-market capabilities have been addressed, but needed more time Investments into production capabilities done, but more opportunities for
Slide 16: Packaging industry has been facing macro headwinds in recent quarters
Packaging industry has been facing macro headwinds in recent quarters p ¥ bo Macro uncertainty Cautious consumer Muted growth across reflecting inflation, sentiment leading to soft packaging substrates geopolitical tensions, and end-market demand shifting trade policies Gig) 16
Slide 17: In summary
In summary 1. Great products, people and technology 2. €3.4B in investments that are not generating enough cash flow 3. Weak end-market demand - A great opportunity for a reset near the trough of the cycle! 17
Slide 18: ... and there IS a strong future for SIG
... and there IS a strong future for PS
Slide 19: We will use our core to change competitive positioning in acquired substrates
We will use our core to change competitive positioning in acquired substrates as we drive operational excellence * _— (“ | Our core capabilities 7 (Aseptic, recyclable - Systems solutions S.cep SpoOUted Pouch + Global sales platform - Broad service offering - Aseptic technology : : Aseptic, recyclab
Slide 20: SIG's future execution focus
SIG’s future execution focus EBIT not EBITDA - put a price on CAPEX Capital allocation discipline with focus“ A on returns, no M&A on the horizon Me: Improved cash conversion Re-instate dividend @)
Slide 21: In summary
In summary SIG will become a leader in Aseptic, Sustainable Packaging Systems With world class products and margins Proprietary technology and high barriers to entry Offering the lowest total cost of ownership for our customers To generate attractive growth & returns for our shareholders @®) 21
Slide 22: Strategy execution
02 Strategy execution Anne Erkens CFO, Interim CEO
Slide 23: Superior global platform for long-term value creation
Superior global platform for long-term value creation Unique system solution with recurring revenues ial Differentiated aseptic technology Value creation levers TCO advantage through speed, flexibility and performance Innovation capabilities across substrates Sustainability leadership 23
Slide 24: Superior system solution delivers recurring revenues and attractive unit economics
Superior system solution delivers recurring revenues and attractive unit economics Equipment Packaging solutions Services Ws (i) » Total cost of ownership Industry leading Global coverage leadership through sustainability Digital solutions Aseptic technology speed, flexibility and Versatile formats/
Slide 25: We are proud of our long-term customer partnerships
We are proud of our long-term customer partnerships =< = @ | vm) 5 Yili . Average contract come Sapulo = geval [Quata Parle Agro ts eq Kar(Pak) hgiee STEUBEN Amul MEA GG) 1)1n aseptic Carton business; retained customers over 10-year period 25 Average length top 10 relationships Customer retention ra
Slide 26: We have a strong foundation to build on
We have a strong foundation to build on Increased Aseptic Carton Expanded categories Achieved well-balanced segment share and channels global footprint # 2 25% SIG revenue by region — globally #1 BIB globally , Foodservice @ ~ 2 21% #2 Spouted | globally Pouch 2018 2024 2018 2024 @) 26
Slide 27: Our multi-substrate strategy positions us for growth
Our multi-substrate strategy positions us for growth On the go/ Athome Multi substrate strategy Toddler food, yogurt, desserts, condiments, sauces Access to structurally Out of home higher growth markets Dairy, syrups for carbonated soft drinks, lemonades Support customer's channel expansion At home
Slide 28: Three fundamentals to drive value creation
Three fundamentals to drive value creation @ Portfolio optimization ie Focus portfolio and investments towards aseptic applications Optimize non-core segments for value (@) Performance improvement @ ee SG&A (incl. R&D) cost reduction Procurement optimization Manufacturing excellence ©) Rigorous capi
Slide 29: Portfolio optimization towards high potential core
@Portfolio optimization towards high potential core Our portfolio today 4 Aseptic SP—@ Non-aseptic SP 4, onl @ Aseptic Growth Bag-In-Box Carton ii (core) potential Chilled Carton Bag-In-Box (non-core) CS Strategic fit @ Core business ©) Non-core Non-core (Divestment) Portfolio target state Sustainab
Slide 30: Performance improvement program launched
SG&A and R&D cost reduction hin Drive process automation Adjust structures to current market environment Increase R&D effectiveness Procurement optimization me Establish new procurement governance & operating model globally Optimize indirect spending via clear category ownership and rigorous trackin
Slide 31: Targeting bps margin uplift
Targeting 150 bps margin uplift >25.5% Adj. EBITDA Growth & Performance Inflation Mid-term 2025 portfolio impact Improvement Adj. EBITDA GG) Note: Growth & portfolio impact includes non-core divestments; Adj EBITDA 2026 excluding non-recurring charges 31
Slide 32: Transitioning to EBIT as leading profitability KPI
@Transitioning to EBIT as leading profitability KPI >24% -9.0% Increases visibility of capital allocation decisions 16% = 216.5% » Includes deferred revenue and depreciation from filling lines Internally introduced January 2025 Adj.EBITDA 2025 _—_— Depreciation & Adj. EBIT 2025 Margin Mid-term Amort
Slide 33: In summary...
a In summary... With strong global platform we are well positioned for sustainable value creation Clear path forward xTo @ i Focusing portfolio on aseptic system solutions x ® r) Delivering Performance Improvement we program y NX ©) © Capital discipline driving sustainable returns @®) 33
Slide 34: Market Opportunities
O03 Market Opportunities Christoph Wegener CMO IO @m
Slide 35: We position ourselves in highly attractive end markets
We position ourselves in highly attractive end markets Market growth CAGR '25-'30 SIG revenue SIG markets Focus areas share . ~4% Aseptic ~3% Total Global Emerging markets packaging market >30% growing at ~6% 1-2% Spouted ° Pouch p.a.+ Global Aseptic ° 9 ~5% Bag-in- ~4% Box Global Foodservice @® Not
Slide 36: We are the only global multi-channel strategic partner for our customers
We are the only global multi-channel strategic partner for our customers Supermarkets —_- Aseptic customers OTN . | Carton ED (20105 QSR Pouch Restaurants 4 O + Vending machines Serving our Café/ Bar channels = . Out-of- Canteen = Aseptic a / home In-office Bag-in- Hospitals N@ Box — Leisure GG) Not
Slide 37: A customer's perspective of our offering
A customer's perspective of our offering TIROL Occasion Out-of-home Category Athome On-the-go (foodservice) ‘ Future opportunity White & , »» Expansion packaging flavored milk portfolio, entering into new categories, e.g., Culinary yoghurt, cream...) SCM & cream Ice cream mix Cheese spread Yoghurt >
Slide 38: We have consistently outperformed the Aseptic Carton market
We have consistently outperformed - y - the Aseptic Carton market Volume growth Market volume growth, CAGR GBB sic. Ac volume growth, cAGR e— Structural ——e e~— Covid, inflation —e e#—— Returnto ——e growth crisis, subdued structural consumer sentiment growth A wah ame ~3% ~3%» YY ( ~2% _ 16-19 "20-2
Slide 39: TCO champion
TCO champion Leading the industry by combining output speed and size flexibility SIG Neo highest output/ m? in the industry Platform rollout ‘25: SIG Neo Slimline ‘26: SIG Neo Midi ‘27: Single-serve & other flagship formats GG) Note:160 = Total Cost of Ownership; NOSO = Non-carbonated soft drinks Ou
Slide 40: Nutritious and healthy dairy, vegetable and high-protein concepts
Nutritious and healthy (low-acid) dairy, vegetable and high- protein concepts
Slide 41: We are beginning to scale our breakthrough innovation
i] We are beginning to scale our breakthrough innovation '23-'25 Generation 1 filler Proof of concept =\\ Nestlé Piloting Aseptic SP STEUBEN solution in select accounts & categories @) '26-27' Generation 3 filler Scale up : Mass market scale-up through Commercialization In-line sterilization cA» hig
Slide 42: Focusing on attractive BIB segments
Focusing on attractive BIB segments Key market drivers QSR growth QSR growth Dispenser growth Conversion to aseptic Juices, QSR growth lemonades, _Dispenser growth RTD coffee Conversion to aseptic Retail Growth below GDP Industrial Growth in line with GDP Fe WT ww Grow with expanding customer footpr
Slide 43: Our BIB solutions have differentiated value proposition
Your BIB solutions have differentiated value proposition TCO champion Aseptic innovator sto Eilretellisy ea a -mono-materials Roll-out of the fastest Best performing aseptic Rollout of mono- aseptic BIB filling filling based on material BIB bags with system globally proprietary technology “designed
Slide 44: In summary...
In summary... Market fundamentals remain highly attractive In Aseptic Carton we build strong traction through innovation We are creating a new market in Aseptic Spouted Pouch We focus on attractive BIB growth pockets (e.g., dairy) where our competitive edge delivers @® 44
Slide 45: SIG: The Innovation Leader
04 SIG: The Innovation Leader Gavin Steiner CTO
Slide 46: SIG is redefining packaging standards through aseptic technology
SIG is redefining packaging standards through aseptic technology Bringing the benefits of aseptic to customers, consumers and the environment Quality Up to 5x higher nutrient retention vs. retort Natural color and taste maintained "Fresh-like” sensory profile Sustainability & distribution ~60 % lowe
Slide 47: We have a unique cross-substrate aseptic platform
We have a unique cross-substrate aseptic platform SIG's diversified aseptic technologies i, trage <2" familias Carton Spouted pouch fh
Slide 48: Platform-led innovation from BIB and Aseptic Carton
Platform-led innovation from BIB and Aseptic Carton contributed to Aseptic Pouch Carton IP deployment core technology.... Aseptic Carton tech Deploying BIB Breakthrough with i Further Aseptic .. to zs = : Spouted Pouch Improved throughput & efficiency High-speed production enabled | Filler G4 | Fill
Slide 49: We are leaders in sustainability innovation
We are leaders in sustainability innovation - pioneering alu-layer-free barrier solutions : Ap. Note: AF-FB = Alu-layer-free FullBarrier UHT = Ultra High Temperature “yg? 1st 1L AF-FB oxygen- sensitive juice 1st AF-FB premium UHT dairy Portion-pack with “recycling” label 49
Slide 50: Paving the way to the future: 90% paper share with closure
Paving the way to the future: 90% paper share with closure Delivered on pro i 3 ? re) = 85% paper in AC paper share full-barrier 2 with closure: Successful technical pilot completed . co. . with 8th largest dairy company globally Strategic partnership with a leading player Paper-based closures at in
Slide 51: Extending our sustainability leadership beyond carton
Extending our sustainability leadership beyond carton - advancing mono-material packaging for Pouches & BIB - strategic platform expansion Next-gen mono-polymer films [pd n Full conversion of BIB fitments to recyclable materials meeting the stringent recycling industry standards Enabling full recycl
Slide 52: Financial Implications
O05 Financial Implications Ann-Kristin Erkens CFO, Interim CEO
Slide 53: Clear and disciplined capital allocation framework
Clear and disciplined capital allocation framework Cy mil Focus on Capex for earnings accretive growth 02] ny ha Committed to strong balance sheet ® Shareholder friendly capital policy while prioritizing deleveraging near-term Gig) 53
Slide 54: Financial guidance
Financial guidance 2026 ecu Term Revenue growth 0-2% (Constant Currency and Constant Resin) 3-5% >25.5% EBITDA Adjusted EBIT Margin Above 2025 >16.5% Net CAPEX 6-8% (% revenue) incl. lease payments Net leverage Path to deleveraging: <2.5x by 2027; target ~2.0x beyond Dividend payout Paused 30-50%: 2
Slide 55: Management and Board compensation aligned with shareholder interests
Management and Board compensation aligned with shareholder interests 2024 data at target compensation structure Variable 70% Cash - Ea Board CEO Rest of GEB* @® 1) GEB target structure represents the average of all GEB members Variable compensation @ Long-term incentive in performance share units (3
Slide 56: In summary ...
In summary ... Secular consumer trends Focused investments | Rigorous capital allocation Differentiated offering Performance improvement = Low working capital needs Aseptic Spouted Pouch Innovation premium Leverage reduction BIB transformation Best-in-class margins
Slide 57: Q&A
Q&A
Slide 58: Thank you
Thank you