Westrock Coffee Company, LLC Q1 FY2026 earnings call

• First quarter of 2026 delivered strong results across every dimension, fourth consecutive quarter of year-over-year consolidated adjusted EBITDA growth. • First time reporting results as fully operational integrated beverage platform with all lines running and full enterprise generating operating income. • Commercially, platform is attracting demand for full-spectrum beverage partnership across multiple categories. • In single serve, disruption from large customer departure in Q4 2025 is behind us, seeing strong inbound interest. • Partnership with Palantir continues to deepen, empowering new ways of work in manufacturing, logistics, etc. • Capital expenditures for the quarter were ~$7 million, down from over $41 million in Q1 2025, expected downward trajectory in capital intensity now that Conway is fully commercialized.

Q1 consolidated adjusted EBITDA was $26 million, more than tripling year over year. Net sales were $308.8 million, up 44 percent. Beverage solutions segment adjusted EBITDA was $23.3 million in Q1, up 143% versus 2025 (including a one-time gain of ~$4.6 million, excluding which it was ~$18.6 million, up 95% vs 2025). SS&T segment delivered segment adjusted EBITDA of 6.5 million in Q1 compared to 1.9 million in Q1 of 2025. Secured net leverage ratio improved to 3.45 times, down 40 basis points from year end. Conway facility is fully operational, swung to operating cash flow positive, and expected to be increasingly meaningful contributor to segment profitability.

• Reaffirming 2026 consolidated adjusted EBITDA outlook of $90 to $100 million. • Expecting to be free cash flow positive in the second half of 2026. • 2027 has the best sales pipeline, expect to continue growing through the year. • There is potential upside to 2026 plans as brands are closing with expedited pace, more seen in 2027.

Q: Potential variability around timing of volume ramp.

A: Forecast for 2026 and 2027 mostly contracted in, confidence high as plant has been running for 12 - 18 months with per unit economics right. There's upside potential, especially in 2027 with best sales pipeline.

Q: Impact of Palantir relationship progressing beyond 2026 - 2027.

A: Palantir's Foundry system contains data and drains need for multiple systems, expected to have tens of millions of dollars of benefit annually over next 3 - 5 years, may rebuild commercial systems like Microsoft's operating system did.

Q: Plant utilization, capacity utilization.

A: Not breaking out specific line utilization detail, but have well in excess of $100 million of EBITDA for sale in lines with capacity.

Q: Lower coffee prices impact.

A: In 2025, high coffee prices flowed through P&L, as prices came down in late 2025 and early 2026, lower cost coffee is passing through, net sales higher, gross profit dollar same on apples - to - apples basis.

Q: Things to be mindful for guidance.

A: High gas prices affect C - Store channels and travel center customers, but better positioned now with diversified risk due to growth in retail packaging and at - home consumption products.