Slide 1: Q1 2026 trading update
Q1 2026 trading update SIG Group Mikko Keto, CEO | Anne Erkens, CFO April 28, 2026
Slide 2: Disclaimer and cautionary statement
Disclaimer and cautionary statement The information contained in this presentation is not for use within any Neither SIG nor any of its directors, officers, employees, agents, affiliates or These alternative non -IFRS measures are presented as we believe that they country or jurisdiction or by any p
Slide 3: Business highlights
Business highlights Mikko Keto, CEO April 28, 2026 | Q1 2026 trading update 3
Slide 4: Q1 2026 highlights
Q1 2026 highlights Improved profitability and cash flow supported by actions announced in October last year Q1 2026 results Strategy Outlook • Revenue at constant currency • Focus on aseptic system • Financial guidance maintained stable YOY solutions • Targeted actions to mitigate • Aseptic carton +
Slide 5: Middle East conflict
Middle East conflict Limited impact from increasing energy and resin prices in Q1 • Segment IMEA accounts for 14% of total revenue • War on Iran and subsequent closure of straight of Hormuz led to rising prices for oil and natural gas • Knock -on effects on oil derivatives, transport & logistics wit
Slide 6: Q1 2026 financial summary
Q1 2026 financial summary Revenue €746 Adjusted EBITDA Adjusted EBIT (millions) €714 (millions, % of revenue) (millions, % of revenue) 22.3% 22.4% 12.8% 13.4% €166 €160 €95 €96 Growth (%) 3M 2025 3M 2026 Reported 3.4% (4.2)% Constant currency (CC) 3.8% 0% CC and constant resin 3.2% (0.2)% 3M 2025 3M
Slide 7: Q1 2026 regional summary
Q1 2026 regional summary Europe and India, Middle East and Africa Europe • Revenue growth at constant currency and constant resin Revenue (4.6)% (€ million) Revenue Growth 1 • Softer demand for core aseptic carton categories milk and 2025 Q1 252 0.5% juice reflecting high base in Q1 2025 2026 Q1 240
Slide 8: Q1 2026 regional summary
Q1 2026 regional summary Asia Pacific and Americas Asia Pacific • Revenue growth at constant currency and constant resin (€ million) Revenue Revenue 7.8%, also supported by timing of Chinese New Year Growth 1 • Channel expansion and increased market coverage 2025 Q1 189 (0.2%) through launch of inno
Slide 9: Financial highlights
Financial highlights Anne Erkens, CFO April 28, 2026 | Q1 2026 trading update 9
Slide 10: Adjusted EBIT bridge
Adjusted EBIT bridge Significant margin improvement driven by improvement measures initiated in Q4 2025 € millions €95 €96 (€1) €7 (€12) €3 €83 €5 (€1) 24.6% 24.0% 24.2% 22.1% 12.8% 12.8% 12.8% 21.4% 22.3% 11.6% 21.2% 22.4% 22.4% 13.4% 13.4% 13.4% Adjusted FX Adjusted Top Line Sourcing Production SG
Slide 11: Adjusted EBIT reconciliation
Adjusted EBIT reconciliation € million 3M 2026 3M 2025 Profit for the period 67.3 15.6 Net finance expense 29.1 32.0 Income tax expense 22.7 7.9 EBIT 119.1 55.5 Adjustments to EBIT: Unrealised loss/(gain) on operating derivatives (34.0) 1.7 €34m unrealized gain on operating derivates result Impairme
Slide 12: Input cost breakdown
Input cost breakdown 2026 resin and aluminum volumes 70% hedged Key cost items as a % of revenue 1 2% Energy • Liquid P ackaging Board (LPB) sourcing 5% Transport & Logistics with multi -year contracts, good visibility for 2026 5% Aluminum (split 50/50 between conversion to metal) • Resin and alumin
Slide 13: Free cash flow and capital expenditure
Free cash flow and capital expenditure Including lease payments € million 3M 2026 3M 2025 Net cash from operating activities 8 (8) Net cash from operating activities Acquisition of property, plant and supported by lower customer incentive (58) (66) equipment and intangible assets (net of sales) paym
Slide 14: Leverage reflects business seasonality
Leverage reflects business seasonality Mar 31, Dec 31, Mar 31, € million 2026 2025 2025 • Leverage reflects lower LTM Gross debt 2,465 2,498 3,027 adjusted EBITDA • Net leverage 2.9x as per Group Cash 265 354 787 covenants (calculated as net debt to adj. EBITDA excl. asset impairments) Net debt 2,20
Slide 15: Outlook
Outlook Mikko Keto, CEO April 28, 2026 | Q1 2026 trading update 15
Slide 16: Guidance 2026 maintained
Guidance 2026 maintained Revenue growth (constant currency and constant resin) 0 -2% • Stronger comps in H1 2025 Adjusted EBIT margin 15.7 -16.2% • Guidance subject to: • Input cost • FX volatility Adjusted effective tax rate 26 -28 % • Targeted actions to mitigate impacts from Net CAPEX Middle East
Slide 17: SIG Capital Markets Day 2026
SIG Capital Markets Day 2026 SIG Capital Markets Day planned for October 27, 2026 in Zurich Area April 28, 2026 | Q1 2026 trading update 17
Slide 18: Supplementary Information
Supplementary Information April 28, 2026 | Q1 2026 trading update 18
Slide 19: Net income reconciliation
Net income reconciliation € million 1 3M 2026 3M 2025 Profit / (loss) for the period 67 16 Non -cash foreign exchange impact of non -functional currency loans 1 (7) and realized foreign exchange impact due to refinancing Amortization of transaction costs 1 2 Net change in fair value of financing -re