Silgan Holdings Inc. Q1 FY2026 earnings call

• Our first quarter results display the resilience of our business and the power of our diverse portfolio. • Teams executed well during the quarter and adapted to dynamic operating and market conditions. • Pleased to have delivered first quarter results that were at the high end of our estimated range. • Confident in our outlook for the balance of the year despite the evolving macroeconomic and geopolitical environment. • Dispensing and specialty closures had double-digit organic volume growth in fragrance and beauty. • Metal containers started the year strong with pet food volume growth. • Custom containers results consistent with expectations

Dispensing and specialty closures: First quarter sales increased 2% versus the prior year, primarily due to pass-through of higher raw material cost and foreign currency translation, but volumes adversely impacted by severe weather; adjusted EBIT below prior year levels. Metal containers: Sales increased 15% versus the prior year quarter as a result of contractual pass-through of higher raw material costs and 2% volume growth; pet food volumes up 11%, fruit and vegetable volumes below prior year; adjusted EBIT comparable to prior year quarter. Custom containers: Sales decreased 10% compared to the prior year quarter due to lower margin business exited and continuation of new stocking activities; adjusted EBIT below prior year levels

• Raised 2026 earnings estimate. • Second quarter adjusted earnings range from $0.92 to $1.02 per diluted share. • Second quarter interest expense anticipated to be in the range of $50 million, with a tax rate of 25% to 26%. • Full year 2026 adjusted EPS range increased to $3.73 to $3.93. • Dispensing and specialty closures organic volume mix to grow by a low to mid single digit rate. • Metal containers volumes to grow by a low single digit percentage. • Custom containers volumes to be comparable to prior year levels with second half growth

• Uncertainties from macroeconomic and geopolitical environment. • Impact of severe weather on production and volumes. • Inflationary pressure from the Middle East conflict affecting adjusted EBIT in the second quarter. • Potential demand destruction from inflation not fully contractually passed through. • Uncertainty regarding pre-buy activities and their effect on volumes

Q: About M&A pipeline, how is it reviewed and candidates assessed?

A: Evaluate on cash on cash return, fit in strategy of building higher margin, higher growth businesses in dispensing and specialty closures lane.

Q: Volume outlook details for different segments.

A: Metal containers has timing issue with fruit and vegetable customer; dispensing and specialty closures fragrance and beauty growth strong with no impact from export/shipment; beverage Q1 performance in line with expectations.

Q: Vayner performance and backlog.

A: Vayner combined with dispensing business drives growth, fragrance and beauty had double-digit growth, backlog related to product launches.

Q: Healthcare applications progress.

A: Strong growth in nasal and ophthalmic applications, healthcare business closer to $250 million.

Q: Appetite for large M&A.

A: Likely acquisitions of all sizes, ability to integrate and use free cash flow to return to target leverage