Slide 1: Second Quarter 2026 Earnings
Second Quarter 2026 Earnings August 4, 2026 Ron Lewis Chief Executive Officer Dan Rabbitt Chief Financial Officer
Slide 2: Forward-Looking Statement and Non-U.S. GAAP Measures
Forward - Looking Statement This presentation contains “forward - looking” statements concerning future events and financial performance. Words such as “aims” , “goals,” “vision,” and similar expressions typically identify forward looking statements, which are generally any statements other tha n s
Slide 3: Ron Lewis, Chief Executive Officer
Ron Lewis Chief Executive Officer 3
Slide 4: Ball is Positioned to Win
Ball is Positioned to Win STRONG MARKET & VOLUME GROWTH ✓ Packaged liquid volume is growing globally ✓ Aluminum cans taking share as consumers and customers recognize aluminum’s advantages ✓ Ball is outgrowing the can market in the regions where we operate BALL EXECUTION FINANCIAL STRENGTH ✓ Long -
Slide 5: Grounded in Our Strategic Pillars
Grounded in Our Strategic Pillars Capitalizing on an evolving market Executing exceptionally in Accelerating substrate shift and our existing business category expansion Delivering in our core business 1 3 2 4 Staying close to our customers Managing complexity to and maximizing our network our advan
Slide 6: Our EVA Focused Strategy Drives Value Creation
Our EVA® Focused Strategy Drives Value Creation 30+ Years of Compounding Shareholder Value Committed to our growth algorithm… CASH GENERATORS 2–3% 2x Volume X Operating Growth Leverage EVA DEVOTEES EVA® CAPITAL ALLOCATORS = 10%+ 4 –6% Share Count Reduction EPS 1 EARNINGS GROWERS 1) EPS represents Co
Slide 7: Continued Strong Performance to Start 2026
Continued Strong Performance to Start 2026 COMPARABLE OPERATING EXCITING Q2 WINS VOLUME GROWTH ACROSS THE BUSINESS YoY EARNINGS GROWTH YoY ✓ Strong volume growth across the business puts us on track with our Q2 2026: 4.3% Q2 2026: 7.7% expectations in 1H 2026 ✓ Strong comparable operating Can contin
Slide 8: Dan Rabbitt, Chief Financial Officer
Dan Rabbitt Chief Financial Officer 8
Slide 9: Q2 2026 Financial Summary
Q2 2026 Financial Summary YoY Shipped Beverage Volume Growth Q2 2026 Long - term 2030 Guidance Range North & Central America +LSD 1- 3% EMEA +MSD 3- 5% South America +MTD 4 - 6% Global Aluminum Packaging 4.3% 2- 3% Comparable Operating Earnings Earnings Per Share 1 USD in millions USD per share 8% 1
Slide 10: 2026 Guidance
2026 Guidance Guidance unchanged and on track to grow EPS 10%+ in 2026 GUIDANCE EPS growth 1 10%+ Free cash flow $900M+ OPERATING ASSUMPTIONS Effective tax rate ~23.5% Interest expense $310M Capex ~$600M (in - line with D&A) Corporate undistributed costs ~$175M Net leverage ~2.7x Shareholder returns
Slide 11: Q2 2026 Highlights and 2026 Path Forward
Q2 2026 Highlights 2026 Path Forward Leverage our customer partnerships ✓ Continued strong volume growth across all packaging segments and footprint to grow in - line with our long - term volume ranges ✓ Grew Comparable Operating Expect to achieve record Shipped Earnings 8% in Q2 2026 Volume, Compar
Slide 12: Q&A
Q&A
Slide 13: Thank you.
Thank you. Investor Relations Contacts Brandon Potthoff 303 - 460 - 2120 bpoffhof@ball.com 13
Slide 14: Use of Non-GAAP Measures
Use of Non - GAAP Measures Non - U.S. GAAP measures should not be considered in isolation. They should not be considered superior to, or a substitute for, fi nancial measures calculated in accordance with U.S. GAAP and may not be comparable to similarly titled measures of other companies. Presentati
Slide 15: Reconciliation: Comparable Diluted Earnings Per Share
Reconciliation: A summary of the effects of non Comparable Diluted Earnings Per Share - comparable items on after tax earnings is as follows: (1) The charges for the three and six months ended June 30, 2026, were primarily composed of expenses associated with tariff cont ing encies where the company
Slide 16: Reconciliation: Adjusted Free Cash Flow
Reconciliation: Adjusted Free Cash Flow A summary of free cash flow and adjusted free cash flow is as follows: Reconciliation: Comparable Operating Earnings A summary of the effects of non - comparable items on earnings before taxes is as follows: (a) For further details regarding reconciling items
Slide 17: Reconciliation: Net Debt & Net Leverage
Reconciliation: Net Debt & Net Leverage A summary of Comparable EBITDA, Net Debt, Interest Coverage, and Leverage is as follows: (a) For further details regarding reconciling items refer to the summary of reconciling items table on slide 18. 17
Slide 18: Summary of Reconciling Items
(a) Summary of Reconciling Items A summary of reconciling items for the tables referenced on slide 16 and 17 is as follows: 18