Silgan Holdings Inc. · NYSE:SLGN

Silgan — Investor Presentation (November 2022)

37 slides from Silgan's investor presentation, November 2022

1. Slide 1: Silgan Holdings Inc. Investor Relations Presentation

   WELCOME Silgan Holdings Inc. Investor Relations Presentation November 2022

2. Slide 2: Presentation Notes

   2 PRESENTATION NOTES This presentation, and the statements made during the course of this presentation, are not intended to and do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities. Statements made in

3. Slide 3: Non-GAAP Financial Measures

   NON-GAAP FINANCIAL MEASURES 3 Generally accepted accounting principles in the United States are commonly referred to as GAAP. A non-GAAP financial measure is generally defined as a financial measure that purports to measure financial performance, financial position or liquidity but excludes or inclu

4. Slide 4: Investment Overview

   Investment Overview 4 Defensive end markets with portfolio evolution to organic growth Meaningful capital deployment opportunity with strong track record creating value Product offering strategically positioned to benefit from sustainability trends in packaging ©2022 Silgan Holdings Inc. All Rights

5. Slide 5: $5.7B Sustainable Rigid Packaging Company for Consumer Goods

   $5.7B¹ Sustainable Rigid Packaging 5 Company for Consumer Goods Health Other Care 2% 3% Dispensing ROW Personal & Specialty Closures 7% Care & 45% Beauty 10% 38% Home Care, Europe Lawn & Custom 20% Garden End Food Segments 13% Containers 13% 47% 15% Geography Markets 2021 Revenue Beverage 10% USA 49

6. Slide 6: Unique Business Model

   Unique Business Model 6 Our cash deployment model gives us the flexibility to selectively grow and create ✓ Proven leadership team franchise positions in the packaging industry ✓ Focused segment management ✓ Customer-focused ✓ Metric-driven culture ✓ Track record of value creation ✓ Disciplined depl

7. Slide 7: Cornerstone Business Strategy

   Cornerstone Business Strategy 7 Build and enhance Deploy strong Earnings growth franchise positions Free Cash Flow and value creation ✓ Sustainable competitive ✓ Growth through ✓ Top tier earnings advantage targeted acquisitions growth in Packaging sector ✓ Supply best value in ✓ Other cash deployme

8. Slide 8: Leading Positions in Our Markets

   Leading Positions in Our Markets 8 SEGMENT OUR OUTLOOK Dispensing & Specialty Closures Leading positions in: • Global trigger sprayers ✓ Dispensing packaging solutions growth drives mix • Global dispensing pumps and margin enhancement • Global metal closures for food and beverage • North American pl

9. Slide 9: Sustainability Highlights

   Sustainability Highlights 9 Product Highlights – ~95% of the products our company produces are recyclable • Metal can and closures highlights: • Plastic closures, bottles, and dispensers highlights: • 100% recyclable • Products provide unique attributes only available in plastics • Infinitely recycl

10. Slide 10: Dispensing and Specialty Closures

    DISPENSING AND SPECIALTY CLOSURES ©2022 Silgan Holdings Inc. All Rights Reserved.

11. Slide 11: Dispensing & Specialty Closures

    Dispensing & Specialty Closures 11 Sales: $2.2B Adj. Segment EBITDA: $395M Strong Market Positions with Attractive Growth Opportunities Other 2% Health Care Personal Plastic ROW 3% Care, 19% 12% Food Fragrance & 21% Beauty 30% End USA Products Geography Markets Dispensing 50% 56% Europe Metal 38% Ho

12. Slide 12: Dispensing & Specialty Closures: Competitively Advantaged Growth Business

    Dispensing & Specialty Closures 12 Competitively Advantaged Growth Business 2,500 500 Adjusted Segment EBITDA 2,000 400 Segment Sales ($ in millions) ($ in millions) 1,500 300 1,000 200 500 100 0 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Segment Sales Adjusted Segment EBITDA • Engineered d

13. Slide 13: Broad Portfolio of Products in Diverse End Markets

    Broad Portfolio of Products 13 in Diverse End Markets Metal Plastic Beverage Plastic Dairy Dispensing Closures Closures Closures Manufacturing Injection Molding, Product Injection & Compression Injection & Compression Coating, Metal Forming Technology Assembly Molding Molding Segment % 56% 25% 12% 7

14. Slide 14: Dispensing & Specialty Closures: Advancements in Sustainability

    Dispensing & Specialty Closures 14 Advancements in Sustainability Fully Recyclable Fully Recyclable Post-Consumer Recycled (PCR) • Fully recyclable metal closures for glass and metal containers • Helping customers meet their sustainability goals (recyclability • Market leading PCR dispensing product

15. Slide 15: Metal Containers

    METAL CONTAINERS ©2022 Silgan Holdings Inc. All Rights Reserved.

16. Slide 16: Metal Containers

    Metal Containers 16 Sales: $2.8B Adj. Segment EBITDA: $349M Most Sustainable Food Package Other 8% Other Europe 24% 12% Protein 10% Pet Food 32% Pet Food End Markets 43% End Markets Geography Soup (US) (Intl.) 15% Protein 17% Vegetable Vegetable USA & Fruit & Fruit 88% 24% 27% 2021 Volume (Units) 20

17. Slide 17: Metal Containers: Portfolio Evolving Towards Growth

    Metal Containers 17 Portfolio Evolving Towards Growth 38% of 53% of total total volume volume 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Pet Protein Vegetable Other Soup • Market leader in North American food cans • Expect pet food will account for roughly 50% of volume by • Contracts: 9

18. Slide 18: Sustainability Advantaged Package

    Sustainability Advantaged Package 18 ✓ Infinitely recyclable package ✓ Highest recycling rate of any food or beverage package in U.S. – 58% ✓ Food Cans contain as much as 77% recycled content • Drastically reduced carbon footprint ✓ Shelf stable food cans preserve food for years with no refrigeratio

19. Slide 19: Custom Containers

    CUSTOM CONTAINERS ©2022 Silgan Holdings Inc. All Rights Reserved.

20. Slide 20: Custom Containers

    Custom Containers 20 Sales: $709M Adj. Segment EBITDA: $132M Competitive Advantage through Service Model Pet Food ROW 10% 2% Canada 14% Consumer Health Food 16% 41% End Geography Markets Beauty & Personal Care 13% USA Home Care 85% 20% 2021 Revenue 2021 Revenue >20 15 8 countries US plants Canada pl

21. Slide 21: Custom Containers: Transitioning to Growth

    Custom Containers 21 Transitioning to Growth 140 25% Adjusted Segment EBITDA Adjusted Segment EBITDA 120 20% 100 ($ in millions) 80 15% Margin 60 10% 40 5% 20 0 0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Adjusted Segment EBITDA Adjusted Segment EBITDA Margin • Service model - enabling cust

22. Slide 22: Diverse End Markets With Large Customers

    Diverse End Markets With 22 Large Customers Beauty & Consumer Food Home Care Personal Care Health Pet Food Manufacturing Thermoform, Blow Mold, Blow Mold, Injection Mold Blow Mold, Injection Mold Blow Mold, Injection Mold Thermoform Technology Injection Mold Segment % 41% 20% 13% 16% 10% (2021 Reven

23. Slide 23: Custom Containers: Sustainability in Plastic Packaging

    Custom Containers 23 Sustainability in Plastic Packaging • Focus on multi-serve products where resin-based packaging • Strategic alliances to promote responsible plastic use, provides unique utility (weight, safety, flexibility, etc.) increase recycling rates, and reduce waste: • Recyclability: 99%

24. Slide 24: Financial Overview

    FINANCIAL OVERVIEW ©2022 Silgan Holdings Inc. All Rights Reserved.

25. Slide 25: Silgan Financial Attributes

    Silgan Financial Attributes 25 ✓ Consistent & sustainable growth ✓ Strong free cash flow generation ✓ Disciplined capital deployment ✓ Balanced view of shareholder value creation ✓ Focus on efficiency of balance sheet ✓ Strong returns profile ©2022 Silgan Holdings Inc. All Rights Reserved.

26. Slide 26: Strong Recent and Long-Term Financial Performance

    Strong Recent and Long-Term 26 Financial Performance CAGR = 12.9% CAGR = 22.9% Adjusted EBITDA $5.00 Free Cash Flow Per $1,000 Diluted Share $4.00 $800 $3.00 (millions) $600 $2.00 $400 $200 $1.00 $0 $0.00 CAGR = 19.8% CAGR = 10.5% $4.00 Dividends Per Adjusted Net Income Per $0.65 $3.50 Diluted Share

27. Slide 27: High Free Cash Flow Conversion

    High Free Cash Flow Conversion 27 $500 $900 $450 $800 (Free Cash Flow & Capex, $ in millions) $400 $700 Since 2016: (Adjusted EBITDA, $ in millions) $350 $600 • Free Cash Flow conversion of Adjusted $300 $500 EBITDA has averaged 47% $250 $400 • Adjusted EBITDA has grown 83% $200 $150 $300 • Capex ha

28. Slide 28: Disciplined & Balanced Capital Deployment Strategy

    Disciplined & Balanced Capital 28 Deployment Strategy $1,400 160% $1,200 140% 120% Total Shareholder Return $1,000 Aggregate spend 2012 – 2021: 100% Acquisitions: $3.3B (millions) $800 • 80% $600 • Capital Expenditures: 60% $1.8B / 4.4% of sales $400 40% • Dividends: $441M $200 20% • Share Repurchas

29. Slide 29: Efficient Balance Sheet

    Efficient Balance Sheet 29 4.5x Total Net Leverage Ratio 4.0x 4.0x 3.5x 3.5x 3.5x 3.4x 3.3x 3.2x • Management is committed to 3.0x 2.9x 2.9x reducing debt via free cash flow 2.6x generation 2.5x 2.3x • Consistent track record of 2.0x $746M in deleveraging post-acquisition $1B Acquisitions: Financial

30. Slide 30: Appendix A: Reconciliation of Non-GAAP Financial Measures

    Appendix A: Reconciliation of Non-GAAP Financial Measures ©2022 Silgan Holdings Inc. All Rights Reserved.

31. Slide 31: Appendix A: Total Company Adjusted EBITDA Reconciliation

    APPENDIX A 31 Silgan Holdings Inc. Reconciliation of Total Company Income Before Interest and Income Taxes to EBITDA and Adjusted EBITDA ($ in millions) Year Ended December 31, Total Company 2016 2017 2018 2019 2020 2021 Income before interest and income taxes $ 299.7 $ 357.0 $ 412.1 $ 359.5 $ 512.4

32. Slide 32: Appendix A: Adjusted Segment EBITDA Reconciliation

    APPENDIX A 32 Silgan Holdings Inc. Reconciliation of Segment Income to Segment EBITDA and Adjusted Segment EBITDA ($ in millions) Year Ended December 31, 2021 Dispensing & Specialty Metal Custom Segment Total Closures Containers Containers Total Corporate Company Segment Income, as reported $ 262.1

33. Slide 33: Appendix A: Dispensing and Specialty Closures Reconciliation

    APPENDIX A 33 Silgan Holdings Inc. Reconciliation of Dispensing and Specialty Closures Segment Income to Dispensing and Specialty Closures Segment EBITDA and Dispensing and Specialty Closures Adjusted Segment EBITDA ($ in millions) Twelve Months Ended December 31 Dispensing and Specialty Closures Se

34. Slide 34: Appendix A: Custom Containers Reconciliation

    APPENDIX A 34 Silgan Holdings Inc. Reconciliation of Custom Containers Segment Income to Custom Containers Segment EBITDA and Custom Containers Adjusted Segment EBITDA and Calculation of Custom Containers Adjusted Segment EBITDA Margin ($ in millions) Twelve Months Ended December 31 Custom Container

35. Slide 35: Appendix A: Free Cash Flow Reconciliation

    APPENDIX A 35 Silgan Holdings Inc. Reconciliation of Net Cash Provided by Operating Activities and Net Cash Provided by Operating Activities Per Diluted Share to Free Cash Flow and Free Cash Flow Per Diluted Share and Calculation of Free Cash Flow as a Percentage of Adjusted EBITDA ($ in millions, e

36. Slide 36: Appendix A: Adjusted Net Income Per Diluted Share

    APPENDIX A 36 Silgan Holdings Inc. Reconciliation of Net Income Per Diluted Share to Adjusted Net Income Per Diluted Share Year Ended December 31, 2016 2017 2018 2019 2020 2021 Net Income per diluted share as reported* $ 1.27 $ 2.42 $ 2.01 $ 1.74 $ 2.77 $ 3.23 Adjustments*: Rationalization charges 0

37. Slide 37: Thank You

    THANK YOU www.silganholdings.com

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