Ardagh Metal Packaging S.a. · NYSE:AMBP
Ardagh Metal Packaging — Q3 2026 Earnings Presentation
25 slides from Ardagh Metal Packaging's earnings presentation, Oct 22, 2026
Slide 1: Ardagh Metal Packaging S.A. Third Quarter 2026 Update
Ardagh Metal Packaging S.A. Third Quarter 2026 Update October 22, 2026 Oliver Graham CEO Stefan Schellinger CFO 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts
Slide 3: Introduction
Introduction —— Y
Slide 4: Ardagh Metal Packaging at a glance
Ardagh Metal Packaging at a glance NYSE: AMBP Global beverage can manufacturer Servicing leading brand owners Benefitting from secular tailwinds Revenue split by destination Leading market positions Cans are winning in the 8% packaging mix 41% Europe* #2 $6.3bn Q3 2026 North America #3 LTM Brazil #3
Slide 5: Drivers of secular growth remain strong
Drivers of secular growth remain strong Category Pack Sustainability/ growth advantages regulation Traditional categories Convenience, efficiency Plastics substitution New categories (e.g., health & Imagery, quality, ‘coolness’ Decarbonization roadmap wellness) and the beverage can playing a leading
Slide 6: Significant milestone achieved
Significant milestone achieved Three regional businesses combined to form a strong #3 global competitor Adjusted EBITDA nearly 2x higher over the period Stronger footprint, with 30% larger capacity > $2bn of growth investments Diversification across faster-growing categories Specialty mix now at +50
Slide 7: Q3 Adjusted EBITDA beats expectations
Q3 Adjusted EBITDA beats expectations Full year Adjusted EBITDA guidance upgrade to between $785-$795 million Outperformed Q3 2026 Adjusted EBITDA guidance • Q3 Adjusted EBITDA growth of 2% to $213 million, ahead of guidance range ($200-210 million), with a • strong performance in both segments Euro
Slide 8: Regional snapshots
Regional snapshots AMP global shipments growth of 2% in Q3 2026 Europe North America South America 6% growth in Europe in Q3 1% decline in the Americas in Q3 • Strength in carbonated soft • 1% decline in NA in Q3, due to • 5% decline in SA in Q3 due drinks, energy drinks and in contract resets, ahea
Slide 9: Q3 Financial review
Q3 Financial review 9
Slide 10: Key financial metrics
Key financial metrics Third quarter 2026 $m except per share data Three months ended Three months ended Change Change September 30, 2026 September 30, 2025 reported constant currency Revenue 1,694 1,428 19% 19% Profit for the period 44 27 Adjusted EBITDA 213 208 2% 2% Earnings per share 0.07 0.04 Ad
Slide 11: Financial bridge
Financial bridge Three months ended September 30, 2026 ➢ Group revenue in Q3 was 19% higher versus the prior year (+19% at CCY) and Revenue $m Europe Americas Group Adjusted EBITDA increased by 2% (+2% Revenue Q3 2025 625 803 1,428 CCY) Organic 75 198 273 FX translation (7) - (7) ➢ Americas revenue
Slide 12: Net debt and liquidity
Net debt and liquidity Strong liquidity and maturity profile September 30, 2026 Drawn amount Available liquidity $m $m Senior Secured Green and Senior Green Notes 3,996 - ➢ Green notes have no maturity Global Asset Based Loan Facility - 427 before 2028 and a weighted average maturity of 3.1 years. A
Slide 13: Fiscal 2026 guidance
Fiscal 2026 guidance Full Year Adjusted EBITDA guidance range upgraded ❑ Full year 2026 Adjusted EBITDA guidance range of $785–795 million ❑ Cumulative upgrades year-to-date reflect a strong operational and commercial performance, with good demand in key beverage categories Expect modest global ship
Slide 14: Investment highlights
Investment highlights 14
Slide 15: Business strengths
Business strengths Leading pure play global beverage can company focused on sustainable products • Leading player in a long-term growth industry with defensive qualities • Geographically diversified - #2 player in Europe* and #3 player in each of North America and Brazil • Experienced management tea
Slide 16: Summary historic financials
Summary historic financials* Adj. EBITDA less maintenance capex Revenue ($ billion) Adjusted EBITDA ($ million) & cash conversion ratio** 6.5 700 90% 900 798 6.0 800 739 600 662 672 700 625 600 85% 5.5 500 86.7% 600 519 503 545 83.6% 5.0 83.4% 500 400 82.6% 82.6% 81.7% 81.3% 80% 4.5 400 300 300 4.0
Slide 17: Supplemental information
Supplemental information 17
Slide 18: Reconciliation of profit for the period to Adjusted Profit
Reconciliation of profit for the period to Adjusted Profit Three months ended September 30, 2026 2025 $m $m Profit for the period 44 27 Less: Dividend on preferred shares - (6) Profit for the period used in calculating earnings per share 44 21 Exceptional items, net of tax (6) (3) Intangible amortiz
Slide 19: Reconciliation of profit for the period to Adjusted EBITDA
Reconciliation of profit for the period to Adjusted EBITDA Three months ended September 30, Nine months ended September 30, 2026 2025 2026 2025 $m $m $m $m Profit for the period 44 27 74 27 Income tax charge 17 10 34 16 Net finance expense 53 50 177 167 Depreciation and amortization 97 118 337 343 E
Slide 20: Reconciliation of Adjusted EBITDA to Adjusted operating cash flow and Adjusted free cash flow
Reconciliation of Adjusted EBITDA to Adjusted operating cash flow and Adjusted free cash flow Three months ended September 30, Nine months ended September 30, 2026 2025 2026 2025 $m $m $m $m Adjusted EBITDA 213 208 632 573 Movement in working capital (15) 10 (347) (305) Maintenance capital expenditu
Slide 21: Sustainability strategy
Sustainability strategy Built on three key pillars 21
Slide 22: Sustainability leadership recognition
Sustainability leadership recognition B rating for Climate Change, A- for Water Management and Awarded a Platinum rating by EcoVadis for A for Supplier Engagement from global not-for-profit CDP Sustainability* *Ardagh Group rating 22
Slide 23: Core Values
ZAUSIOL Valuing contribution Development + Empowerment Mutual respect Integrity Transparency Collaboration + Safety and responsibility + Communication MCmCe Continuous improvement Innovation Sustainability
Slide 24: Purpose
ArdaghMetalPackaging yy We make packaging for good We work We are proud of Our sustainable, infinitely We are shaping a sustainable future together as our manufacturing recyclable, quality as part of the circular economy while one team. heritage and packaging protects our actively supporting and inv
Slide 25: ArdaghMetalPackaging hy
_ ArdaghMetalPackaging hy
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