Forward-Looking Statements and Non-IFRS Financial Metrics This presentation contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward- looking statements are not historical facts but are based on certain assumptions of management and describe our future plans, strategies and expectations. Forward-looking statements can generally be identified by the u ...

Financial Data and Key Metrics Changes - Global shipments grew by 5% and adjusted EBITDA increased by 18% compared to the prior year, exceeding guidance [4][12] - Revenue in Europe rose by 9% to $615 million, or 4% on a constant currency basis, while adjusted EBITDA in Europe decreased by 3% to $77 million [5][6] - Revenue in The Americas increased by 21% to $840 million, with adjusted EBITDA rising by 34% to $133 million [6][7] Business Line Data and Key Metrics Changes - In Europe, shipments grew by 1%, driven by soft drinks, while beer experienced weakness due to adverse weather [5][6] - In The Americas, shipments increased by 8%, with strong demand for nonalcoholic beverages, particularly carbonated soft drinks and energy drinks [7][8] - Brazil's beverage can shipments increased by 12%, outperforming the industry which grew modestly [8][9] Market Data and Key Metrics Changes - The beverage can market continues to gain share in the packaging mix, with expectations for shipments growth in Europe around 3% for the full year 2025 [6][12] - North America is expected to see mid single-digit growth in shipments for the full year, while Brazil is anticipated to have at least low single-digit growth [9][12] Company Strategy and Development Direction - The company is upgrading its full-year adjusted EBITDA guidance to a range of $700 million to $725 million based on current FX rates [12] - The company plans to maintain a robust liquidity position and expects adjusted free cash flow for 2025 to be at least $150 million [10][11] - Capacity remains tight in certain geographies, and the company is evaluating the need for future capacity additions [42][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite macroeconomic uncertainties, with strong volume growth in The Americas [4][12] - The company anticipates a reduction in growth rates in the second half of the year compared to the first half, but still expects healthy performance overall [19][20] - Management noted that the European market remains healthy, with long-term growth trends expected to continue [39][40] Other Important Information - The company announced a quarterly ordinary dividend of $0.10 per share [11] - Net leverage decreased to 5.3 times net debt over the last twelve months adjusted EBITDA, reflecting adjusted EBITDA growth [10] Q&A Session Summary Question: Insights on North American volumes and expectations for the region - Management highlighted strong performance in soft drinks and energy drinks, with expectations for continued growth but not as strong as the first half [17][19] Question: Capacity constraints in Europe - Management acknowledged capacity constraints in certain can sizes and indicated that they could not fully meet the growth in soft drinks due to these limitations [22][24] Question: Performance drivers in The Americas - Management noted strong promotional activity and innovative products contributing to better-than-expected performance, but anticipated a potential slowdown in the second half [30][33] Question: European cost impacts and guidance - Management discussed timing effects related to aluminum pricing and indicated that they do not expect a significant recovery in Q3 [48][50] Question: Overall growth outlook and cost considerations - Management expressed caution regarding growth rates in the second half, reflecting a more challenging macroeconomic environment [60][61] Question: Energy market dynamics and consumer behavior - Management reported no significant cannibalization between energy drinks and carbonated soft drinks, with both categories performing well [63][66] Question: Manufacturing efficiency and future targets - Management confirmed improved operational costs and efficiency in manufacturing, with ongoing targets for cost savings [73][75] Question: Contract negotiations for future volumes - Management indicated good visibility on contracted volumes for 2026 and 2027, with ongoing negotiations progressing well [76][77]