Slide 1: First Quarter 2026 Earnings Presentation
TM First Quarter 2026 Earnings Presentation May 7, 2026
Slide 2: Disclaimer
GPGI Husky CompoSecure Disclaimer Forward-Looking Statements This presentation, and other statements that GPGI, Inc. (“GPGI,” “we,” “us” or the “Company”) may make in connection therewith, contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These s
Slide 3: Executive Summary
GPGI Husky CompoSecure Executive Summary Strength at CompoSecure Offset by Market-Driven Weakness at Husky – Thesis Remains Intact 1Q performance ▪ CompoSecure delivered record sales, strong operating performance, and continued margin expansion ▪ Husky impacted by unanticipated market headwinds due
Slide 4: 1Q26 Financial Performance
GPGI Husky CompoSecure 1Q26 Financial Performance Continued Strength at CompoSecure Overshadowed by Market-Driven Weakness at Husky PF Adjusted Net Sales1 ($mn) PF Adjusted EBITDA ($mn)2,3 PF Adjusted EBITDA Margin2,3 Husky / CompoSecure Husky / CompoSecure ▲ ▼ ▼ 2.6% $421.2 (16.0%) 430bps $410.7 $9
Slide 5: 1Q26 Pro Forma Adjusted EBITDA Reconciliation
GPGI Husky CompoSecure 1Q26 Pro Forma Adjusted EBITDA Reconciliation Simplified, GAAP to Non-GAAP Operating Results ($ in millions) + = GAAP Net Loss ($235.0) Plus: Pro Forma impact of Husky Holdings (1/1-1/11) ($18.0) Pro Forma Net Loss ($253.0) Plus: Loss on extinguishment and refinancing of debt
Slide 6: What Changed for Husky?
GPGI Husky CompoSecure What Changed for Husky? Oil / Resin Price Shock Following 4Q25 Earnings Impacted 1Q26 Performance and FY26 Outlook 4Q25 Call March 1Q26 So What? Jan: +7% y/y ▪ Pipeline healthy, but conversion to orders began extending in Pipeline +4% y/y +4% y/y mid-March with oil price shock
Slide 7: Resilient End-Market Demand Impacted by Near-Term Volatility
GPGI Husky CompoSecure Resilient End-Market Demand Impacted by Near-Term Volatility Oil / Resin Price Shock Impacted Customer Purchases Demand Remains Resilient Short-Term Disruption Long-Term Trends Non-Alcoholic Beverage Demand Spike in PET Resin Prices ($ / tonne) Customer Focus on Productivity $
Slide 8: 1Q26 Summary
GPGI Husky CompoSecure 1Q26 Summary Oil / Resin Price Shock Delaying Demand Pro Forma Adjusted Net Sales1 of $290.8 million down 5.2% compared to first quarter 2025, driven by declines in PET system sales and tooling offsetting strong growth in spare parts, hot runners, and controllers. Pro Forma Ad
Slide 9: New Systems Decline Offset by Recurring Aftermarket Demand
GPGI Husky CompoSecure New Systems Decline Offset by Recurring Aftermarket Demand Market Environment by Product Line and Region Product Line 1H26 FY26 Key Drivers ▪ Customers deferring orders due to resin price volatility, resin supply shortages, tariff related uncertainty, New Systems and elevated
Slide 10: 1Q26 Financial Performance
GPGI Husky CompoSecure 1Q26 Financial Performance Macroeconomic Demand Ambiguity Led to Revenue Decline and Margin Degradation PF Adjusted Net Sales ($mn)1 PF Adjusted EBITDA ($mn)2 PF Adjusted EBITDA Margin2 ▼ ▼ ▼ (5.2%) (40.2%) 770bps $306.8 $63.9 20.8% $290.8 $38.2 13.2% 1Q25 1Q26 1Q25 1Q26 1Q25
Slide 11: 1Q26 Summary
GPGI Husky CompoSecure 1Q26 Summary Delivering Record Net Sales and Strong Operating Performance Record Adjusted Net Sales of $130.4 million up 25.6% compared to first quarter 2025, driven by robust demand from traditional banks and leading fintechs. Adjusted EBITDA of $47.6 million up 36.8% compare
Slide 12: 1Q26 Financial Performance
GPGI Husky CompoSecure 1Q26 Financial Performance Significant Progress Against All Key Metrics Catalyzed by ROS Adjusted Net Sales ($mn) Adjusted EBITDA ($mn)1 Adjusted EBITDA Margin1 $47.6 36.5% ▲ $130.4 ▲ ▲ 25.6% 36.8% 300bps 33.5% $103.9 $34.8 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 ▪ Driven by robust dema
Slide 13: Introducing 2Q26 and Revising FY26 Guidance
GPGI Husky CompoSecure Introducing 2Q26 and Revising FY26 Guidance Focused on Execution – Implementing ROS to Catalyze Growth and Improve Profitability ($ in millions) Guidance Metrics 2Q26 FY261 Pro Forma Adjusted Net Sales2 $425 – $475 (-9% y/y) $1,950 – $2,100 (+0% y/y)2 Pro Forma Adjusted EBITDA
Slide 14: Capital Structure Update
GPGI Husky CompoSecure Capital Structure Update Key Financial Metrics ($ in millions) As of March 31, 2026 Cash Balance $122 Total Debt Outstanding1 $2,175 Net Debt $2,053 LTM Net Debt / Pro Forma Adjusted EBITDA2 3.7x Revolver Capacity3 $322 Total Liquidity $444 Credit Highlights ▪ GPGI has no near
Slide 15: Appendix – Financial Supplement
Appendix – Financial Supplement
Slide 16: Statement of Operations – 1Q26
GPGI Husky CompoSecure Statement of Operations – 1Q26 Unaudited GAAP to Non-GAAP Operating Results ($ in millions) Three Months Ended March 31, 2026 GAAP Elimination of Equity Addition of +Husky Addition of Holdings = Pro Forma Non-GAAP Method Investment GPGI Holdings GPGI, Inc. (1/1 - 3/31) (1/1-1/
Slide 17: Statement of Operations – 1Q25
GPGI Husky CompoSecure Statement of Operations – 1Q25 Unaudited GAAP to Non-GAAP Operating Results ($ in millions) Three Months Ended March 31, 2025 GAAP Equity Method Adjustments + = Non-GAAP GPGI, Inc. Elimination of Equity Addition of Adjusted March 31, 2025 GAAP Results Method Investment GPGI Ho
Slide 18: Statement of Cash Flows – 1Q26
GPGI Husky CompoSecure Statement of Cash Flows – 1Q26 Unaudited (GAAP and Non-GAAP) ($ in millions) Three Months Ended March 31, 2026 2026 GAAP Non-GAAP CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) ($235.0) ($253.0) Adjustments to reconcile net loss to net cash (used in) provided by opera
Slide 19: Balance Sheet
GPGI Husky CompoSecure Balance Sheet Unaudited (GAAP and Non-GAAP) ($ in millions) GAAP Non-GAAP GAAP Non-GAAP March 31, 2026 March 31, 2026 December 31, 2025 December 31, 2025 ASSETS CURRENT ASSETS Cash and cash equivalents $6.5 $121.6 $114.6 $271.6 Short-term investments - - - 41.1 Accounts receiv
Slide 20: 1Q26 Earnings Per Share and Adjusted Free Cash Flow
GPGI Husky CompoSecure 1Q26 Earnings Per Share and Adjusted Free Cash Flow Non-GAAP Reconciliation ($ in millions, except per share amounts) Basic Earnings Per Share Diluted Earnings Per Share Three Months Ended March 31, Three Months Ended March 31, 2026 2025 2026 2025 Net income (loss) ($235.0) $2
Slide 21: Historical Pro Forma Non-GAAP Results
GPGI Husky CompoSecure Historical Pro Forma Non-GAAP Results CompoSecure, Husky, and Corporate ($ in millions) 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 CompoSecure 1 Adjusted Net Sales $104.0 $108.6 $107.1 $100.9 $103.9 $119.6 $120.9 $117.7 $130.4 Pro Forma Adjusted EBITDA $35.6 $37.7 $38.1 $32.
Slide 22: Historical Pro Forma Non-GAAP Reconciliations
GPGI Husky CompoSecure Historical Pro Forma Non-GAAP Reconciliations CompoSecure, Husky, and Corporate ($ in millions) 1 Non-GAAP Reconciliation for CompoSecure 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Net Income $26.4 $27.9 $27.8 $28.1 $24.2 $38.9 $39.6 $35.4 $0.5 Depreciation and amortization
Slide 23: Investor Relations Contact
Investor Relations Contact ir@gpgi.com