Adj. EBITDA Margin1 10.8% 17.2% (640 bps)

ir_statement / Sep 17, 2026 / receipt

Net Performance includes cost and productivity initiatives, production efficiencies/disruptions, and other operating impacts.

ir_statement / Sep 17, 2026 / receipt

Q1 Net Performance3 impacted by inventory reduction initiative

ir_statement / Sep 17, 2026 / receipt

2026 Guidance Reaffirmed

ir_statement / Sep 17, 2026 / receipt

Enhancing profitability through cost initiatives

ir_statement / Sep 17, 2026 / receipt

inventory rationalization

ir_statement / Sep 17, 2026 / receipt

operational efficiencies

ir_statement / Sep 17, 2026 / receipt

reduced capital spending

ir_statement / Sep 17, 2026 / receipt

Operational and SG&A Cost Reduction

ir_statement / Sep 17, 2026 / receipt

Reduction of Paperboard and Finished Goods Inventory

ir_statement / Sep 17, 2026 / receipt

Generating 2026 expected Adjusted Cash Flow of $700M-$800M through inventory reduction, disciplined capital spending, and other efficiency initiatives

ir_statement / Sep 17, 2026 / receipt

Reducing leverage while continuing the return of capital to shareholders and reinvestment back into the business

ir_statement / Sep 17, 2026 / receipt