Cabka N.v. · EURONEXT:CABKA
Cabka — Shareholder Meeting (June 2026)
46 slides from Cabka's shareholder meeting presentation, Jun 10, 2026
Slide 1: Cabka Annual General Meeting
Cabka Annual General Meeting Amsterdam, 10 June 2026, 10:30 a.m. CEST Cabka N.V. | AGM | 10 June 2026
Slide 2: Agenda
Agenda 01 Opening 07 Repurchase of Ordinary Shares VOTING ITEM 02 Financial Year 2025 08 Management Board Share Issuance Authorization VOTING ITEM VOTING ITEM 03 Discharge 09 Business & ESG Update VOTING ITEM 04 Composition of Supervisory Board 10 Other Business VOTING ITEM 05 Remuneration Policy 11
Slide 3: Agenda Item 2a: Financial Year 2025
Agenda Item 2a: Financial Year 2025 Report of the management board for the financial year 2025 3 Cabka N.V. | AGM | 10 June 2026
Slide 4: CEO Alexander Masharov
CEO Alexander Masharov
Slide 5: Reimagining Plastic Waste
Reimagining Plastic Waste Cabka’s Circular Logistics Revolution 5 Cabka N.V. | Unaudited Results Webcast Presentation | 10 June 2026
Slide 6: Cabka: Who We Are
Cabka: Who We Are Pioneering sustainable innovation for tomorrow’s circular economy OUR PROFILE • Market leader in sustainable plastic pallets and transport boxes. • Fully integrated from recycling to manufacturing. • First-choice partner for companies seeking sustainable logistic solutions. OUR COM
Slide 7: Highlights 2025 Results
Highlights 2025 Results 2025 marked a decisive turning point for Cabka S ALE S E BI TDA E BI TDA MARG I N NE T DE BT €180.8M €21.2M 11.7% €62.6M ▼ 1% vs. 2024 ▲ 4% vs. 2024 ▲ 40 bps ▼ €9.2M lower SHIFT transformation delivered results — EBITDA margin Sustainability progress — EcoVadis Platinum score
Slide 8: Regional Performance
Regional Performance Production sites and subsidiaries in Europe and the US PERCENTAGE SALES BY PRODUCT SEGMENT 2025 49% Portfolio Pooling & Customized 22% Solutions 15% ECO Contract 10% Manufacturing 4% Other 8 Cabka N.V. | AGM | 10 June 2026
Slide 9: The Years Ahead to 2030
The Years Ahead to 2030 Our two-phase growth strategy Improve utilisation in Europe: better product mix & improved planning Phase #1 2026-2028 Improve utilisation in US: Intensified commercial efforts Improving margins + low capex –> higher cash flow & stronger balance sheet Drive organic growth wit
Slide 10: Full-Year 2025 Financials
Full-Year 2025 Financials CFO Mark Letterie
Slide 11: Key Figures 2025
Transformation Matters. Key Figures 2025 SHIFT program delivers margin expansion and net debt reduction Revenue Growth Net Debt Reduction EBITDA Margin Net Working Net Income from Capital operations -1% €-9.0m 11.7% 15.5% €-6.1m (+40bps) (+0.9pp) (-1.9m) € 180.8 million € 62.6 million € 21.2 million
Slide 12: Key Financial Metrics 2025
Key Financial Metrics 2025 Gross margin, Operational EBITDA and Cash generation Operational gross margin (%) Operational EBITDA margin (%) Cash Flow from Operations 51.2 12.4 27.2 50.9 18.7 11.7 14.9 48.3 11.3 2023 2024 2025 2023 2024 2025 2023 2024 2025 12 Cabka N.V. | AGM | 10 June 2026
Slide 13: Sales Segments 2025
Transformation Matters. Sales Segments 2025 Portfolio sales EU Customized solutions ECO sales Contract Manufacturing in € million in € million in € million in € million 71.6 77.5 72.6 34.5 33.7 29.7 34.7 18.3 21.8 25.3 26.3 27.2 2023 2024 2025 2023 2024 2025 2023 2024 2025 2023 2024 2025 Portfolio:
Slide 14: Operational Results for 2025
Operational Results for 2025 Driving profitability for the year in € million 2025 2024 Change Sales declined with 1% to € 180.8m Revenues 180.8 181.9 -1% • Driven by higher sales in EU Customized Solutions and Other operating income items 4.6 10.5 -66% Contract manufacturing Total Operating Income 1
Slide 15: Net Debt Development
Net Debt Development Significant reduction in net debt Cash flow from operating activities | € 18.7m • € 21.2m operational EBITDA 11.6 0.8 • € -2.5m non-cash adjustments 4.8 6.4 • € -1.6m income taxes paid 17.0 1.7 • € 1.7m Net Working Capital movement 71.6 62.6 Cash flow used in investing activitie
Slide 16: Going Concern Statement – 2025 Financial Statements
Going Concern Statement – 2025 Financial Statements Prepared under the going concern assumption, with no material uncertainty Management recognizes no significant doubts to continue as a going concern and is confident in Cabka's long- term sustainability and growth potential. Bank Covenants Resolved
Slide 17: Agenda Item 2b: Financial Year 2025
Agenda Item 2b: Financial Year 2025 Remuneration report for the management board and supervisory board for the financial year 2025 (advisory voting item) 17 Cabka N.V. | AGM | 10 June 2026
Slide 18: Remuneration Report – Financial Year 2025
Agenda item 2b: Remuneration Report – Financial Year 2025 Management Board (€ × 1,000) Supervisory Board (€ × 1,000) FIXED RSU OTHER TOTAL % FIXED MEMBER. COMM. TRAVEL TOTAL A. Masharov (CEO) — 2025 360 20 42 422 85% N. Hoek (Chair) 43 6 0 49 A. Masharov (CEO) — 2024 150 11 16 177 85% G. Ramon 32 6
Slide 19: Agenda Item 2c: Financial Year 2025
Agenda Item 2c: Financial Year 2025 Explanation on policy on reserves and dividend 19 Cabka N.V. | AGM | 10 June 2026
Slide 20: Dividend Payments
Agenda item 2c: Dividend Payments DECISION Given the challenging market conditions and financial headwinds experienced throughout 2025, Cabka has carefully assessed its capital allocation strategy to ensure long-term business No dividend payment for the sustainability and growth. After thorough eval
Slide 21: Agenda Item 2d: Financial Year 2025
Agenda Item 2d: Financial Year 2025 Adoption of the company and consolidated financial statements for the financial year 2025 including appropriation of the net result for the financial year 2025 (voting item) 21 Cabka N.V. | AGM | 10 June 2026
Slide 22: Audit of the financial statements 2025
Audit of the financial statements 2025 Presentation Annual General Meeting 10 June 2026 © BDO
Slide 23: Agenda
Agenda 1. Audit process 2. Key audit matters & other areas of attention 3. Audit findings 4. Auditor’s & assurance report © BDO
Slide 24: 1. Audit process
1. Audit process Engagement acceptance Kick off Audit process and scope: ▪ Fourth year as listed company and our audit ▪ Similar audit scope as in prior year (risk based) Evaluation Risk assessment ▪ No material uncertainty regarding the going concern assumption in 2025 related to lender covenants ▪
Slide 25: 2. Executive summary - Key audit matters, fraud risks and ESG KPI's
2. Executive summary - Key audit matters, fraud risks and ESG KPI’s Key Audit Matters Fraud risks Limited assurance on 4 ESG KPI’s Revenue recognition Revenue recognition CO2 emissions - Scope 1 and 2 emissions Developing control environment Management override of controls Energy consump
Slide 26: 3. Audit findings
3. Audit findings Internal control environment & Audit findings financial audit Assurance findings 4 KPIs VOR statement (sustainability information) • VOR statement is included in the • Based on our professional judgement • 4 KPIs annual report of Cabka and provides an we determined the materiality
Slide 27: Closure
Closure © BDO
Slide 28: Agenda Item 3: Financial Year 2025
Agenda Item 3: Financial Year 2025 Discharge of the managing directors and supervisory directors for the financial year 2025 (voting item) 28 Cabka N.V. | AGM | 10 June 2026
Slide 29: Discharge
Agenda item 3: Discharge AGENDA ITEM 3(A) AGENDA ITEM 3(B) Discharge of the managing directors for the financial year 2025 (voting Discharge of the supervisory directors for the financial year 2025 item). (voting item). It is proposed to discharge all managing directors in office in the financial ye
Slide 30: Agenda Item 4: Composition of Supervisory Board
Agenda Item 4: Composition of Supervisory Board Reappointment and appointment of supervisory directors (voting item) 30 Cabka N.V. | AGM | 10 June 2026
Slide 31: Appointments & Vacancies in Supervisory Board
Agenda item 4(a): Appointments & Vacancies in Supervisory Board The supervisory board has nominated the following supervisory directors for reappointment, each for a term ending at the end of the annual general meeting to be held in 2030: On the basis of designation by DSC Exec: On the basis of desi
Slide 32: Appointment of Supervisory Director
Agenda item 4(b): Appointment of Supervisory Director The supervisory board has nominated Ms. Anja Siegesmund, on the CURRENT POSITION basis of designation by Ram.on for appointment as supervisory director, Chairwoman and President of the German Protestant Church Congress effective as of the date of
Slide 33: Agenda Item 5: Remuneration Policy
Agenda Item 5: Remuneration Policy Amendment of the remuneration policy for the managing directors and supervisory directors (voting item) 33 Cabka N.V. | AGM | 10 June 2026
Slide 34: Revised Remuneration Policy – Summary of Changes
Agenda item 5: Revised Remuneration Policy – Summary of Changes KEY CHANGES CURRENT POLICY 2026 POLICY RATIONALE CFO entitled to 1 monthly salary on To align CFO and CEO STI in light of the new CFO entitled to 2 monthly salaries on meeting EBITDA STI Plan – CFO entitlement meeting EBITDA target CFO
Slide 35: Agenda Item 6: Reappointment of External Auditor
Agenda Item 6: Reappointment of External Auditor Reappointment of the external auditor for the financial year 2026 (voting item) 35 Cabka N.V. | AGM | 10 June 2026
Slide 36: Reappointment external auditor financial year 2026
Agenda item 6: Reappointment external auditor financial year 2026 The supervisory board, together with the audit committee, has assessed the relationship with and performance of the external auditor. Based on this assessment, it is proposed by the supervisory board, upon recommendation of the audit
Slide 37: Agenda Item 7: Repurchase of Ordinary Shares
Agenda Item 7: Repurchase of Ordinary Shares Authorization of the management board to repurchase ordinary shares (voting item) 37 Cabka N.V. | AGM | 10 June 2026
Slide 38: Authorization to repurchase ordinary shares
Agenda item 7: Authorization to repurchase ordinary shares Authorization of the management board, subject to approval of the supervisory board, to repurchase ordinary shares (voting item). It is proposed to authorize the management board, for a period of 18 Under the authorization, an ordinary share
Slide 39: Agenda Item 8: Management Board Share Issuance Authorization
Agenda Item 8: Management Board Share Issuance Authorization Designation of the management board as competent body to issue ordinary shares (voting item) 39 Cabka N.V. | AGM | 10 June 2026
Slide 40: Designation of competent body to issue shares & pre-emptive rights
Agenda item 8: Designation of competent body to issue shares & pre-emptive rights Designation of the management board, subject to approval of the supervisory board, as the competent body to (i) issue ordinary shares and (ii) restrict or exclude pre-emptive rights upon issuance of ordinary shares (vo
Slide 41: Agenda Item 9: Business and ESG update
Agenda Item 9: Business and ESG update 41 Cabka N.V. | AGM | 10 June 2026
Slide 42: Outlook 2026
Agenda item 9: Outlook 2026 Cabka reported a solid start to 2026, with improved profitability in Q1. Market conditions remain challenging Higher revenues expected versus 2025 Improved EBITDA margin expected Customers stay cautious on capital expenditure The Company anticipates top-line growth over t
Slide 43: Sustainability
Agenda item 9: Sustainability ECOVADIS CDP Platinum B score Achieved the Platinum medal for the first time. Confirmed a B score for climate disclosure. Score improved from 72 to 82 points. Outperforming typical plastic-manufacturing scores. Ranked in the top 1% of all rated companies. 43 Cabka N.V.
Slide 44: Agenda Item 10: Other Business
Agenda Item 10: Other Business 44 Cabka N.V. | AGM | 10 June 2026
Slide 45: Agenda Item 11: Closing
Agenda Item 11: Closing 45 Cabka N.V. | AGM | 10 June 2026
Slide 46: ir@cabka.com investors.cabka.com
ir@cabka.com investors.cabka.com