Stable volumes, initial signs of growth recovery, progress on production footprint

Q1 2024 trading update

• Q1 2024 revenue, at constant currency, in line with strong prior year (constant currency and constant resin¹ also in line with prior year)
• Q1 2024 reported revenue declined by 1.0% compared with Q1 2023
• Volume growth resuming in key regions, pricing stable
• Q1 2024 adjusted EBITDA margin 21.5%; set to expand through the year as revenue growth resumes
• Full year guidance confirmed

¹ The resin escalator for the bag-in-box and spouted pouch businesses, which passes on movements in resin costs directly to customers, is excluded for year-on-year comparison purposes.