Slide 1: First Quarter 2026 Earnings
First Quarter 2026 Earnings May 5, 2026 Ron Lewis Chief Executive Officer Dan Rabbitt Chief Financial Officer
Slide 2: Forward-Looking Statement
Forward-Looking Statement This presentation contains “forward-looking” statements concerning future events and financial performance. Words such as “aims”, “goals,” "vision," and similar expressions typically identify forward looking statements, which are generally any statements other than statemen
Slide 3: Ron Lewis, Chief Executive Officer
pet Ron Lewis Chief Executive Officer
Slide 4: Ball is Positioned to Win
| Ball is Positioned to Win At STRONG MARKET & VOLUME GROWTH ¥ Packaged liquid volume is growing globally ¥ Aluminum cans taking share as consumers and customers recognize aluminum’s advantages ¥ Ball is outgrowing the can market in the regions where we operate iy BALL EXECUTION m» g FINANCIAL STREN
Slide 5: Grounded in Our Strategic Pillars
| Grounded in Our Strategic Pillars a Executing exceptionally in our existing business Staying close to our customers and maximizing our network Delivering in our core business Bh me ct & _ I __, Accelerating substrate shift and category expansion Managing complexity to our advantage yoysew Burajons
Slide 6: Our EVA Focused Strategy Drives Value Creation
Our EVA® Focused Strategy . Drives Value Creation of Compounding Shareholder Value Committed to our growth algorithm... CASH GENERATORS 2-3% 2x Volume X Operating Growth Leverage ALLOGATORS = ] O%+ 4-6% ] [ Share Count Reduction P E PS EVA DEVOTEES EARNINGS GROWERS pet
Slide 7: Good Performance to Start 2026
Good Performance to Start 2026 ACROSS THE BUSINESS v Nine consecutive quarters of global Comparable Operating Earnings Y Millersburg facility progressing well and on track to be fully ramped for VOLUME GROWTH ») ( COMPARABLE OPERATING ) EXCITING Q1 WINS EARNINGS GROWTH v Excellent operational execut
Slide 8: Dan Rabbitt, Chief Financial Officer
pet Dan Rabbitt Chief Financial Officer
Slide 9: Q1 2026 Financial Summary
Q1 2026 Financial Summary Ler Shipped Beverage Volume Growth Q1 2026 Long-term 2030 Guidance Range North & Central America +LSD 1-3% EMEA +LSD 3-5% South America -MSD 4-6% ( Global Aluminum Packaging 0.8% 2-3% Comparable Operating Earnings Earnings Per Share! USD in millions USD per share nid | 10%
Slide 10: 2026 Guidance
2026 Guidance Guidance unchanged and on track to grow EPS 10%+ in 2026 EPS growth! Free cash flow Effective tax rate Interest expense Capex Corporate undistributed costs Net leverage Shareholder returns 19s Per Share which is defined as Comparable Net Earnit ings divided by diluted w 10%+ $900M+ ~23
Slide 11: Q1 2026 Highlights
Q1 2026 Highlights — Continued can industry strength across 2026 Path Forward Leverage our customer partnerships > and footprint to grow in-line with our Grew EPS! 22% in Q1 2026, above our long-term commitment to grow EPS! 10%+ annually => Volume, Comparable Operating Earnings ~ all regions long-te
Slide 12: Q&A
Q&A
Slide 13: Thank you.
Thank you. Investor Relations Contacts Brandon Potthoff 303-460-2120 bpoffhof@ball.com Davis Barker 720-663-4836 dbarker@ball.com . _ | a - an *
Slide 14: Use of Non-GAAP Measures
Use of Non-GAAP Measures Non-U.S. GAAP measures should not be considered in isolation. They should not be considered superior to, or a substitute for, financial measures calculated in accordance with U.S. GAAP and may not be comparable to similarly titled measures of other companies. Presentations o
Slide 15: Reconciliation: Comparable Diluted Earnings Per Share
Reconciliation: Comparable Diluted Earnings Per Share A summary of the effects of non-comparable items on after tax earnings is as follows: Three Months Ended March 31 ($ in millions, except per share amounts) 2026 2025 Net earnings attributable to Ball Corporation $ 205 $ 179 Business consolidation
Slide 16: Reconciliation: Adjusted Free Cash Flow
Reconciliation: Adjusted Free Cash Flow A summary of free cash flow and adjusted free cash flow is as follows: Three Months Ended March 31, ($ in millions) 2026 Total cash provided by (used in) operating activities $ (777) Less: Capital expenditures 161 Free Cash Flow (938) Add: Cash taxes paid for
Slide 17: Reconciliation: Net Debt & Net Leverage
Reconciliation: Net Debt & Net Leverage A summary of Comparable EBITDA, Net Debt, Interest Coverage, and Leverage is as follows: Twelve Less: Three Add: Three Months Ended Months Ended Months Ended Year Ended December 31, March 31, March 31, March 31, ($ in millions, except ratios) 2025 2025 2026 20
Slide 18: Summary of Reconciling Items
(a) Summary of Reconciling Items A summary of reconciling items for the tables referenced on slide 16 and 17 is as follows: ($ in millions, except ratios) Business consolidation and other activities Debt refinancing and other costs Factoring fee expense FX (gain) loss Intangible amortization Interes