Elopak ASA

Earnings Release • Oct 28, 2025

Elopak s third quarter (Q3): Strong profitability and strategic expansion in the Americas

Elopak s third quarter (Q3): Strong profitability and strategic expansion in the Americas

Elopak ASA ("Elopak", Oslo Børs Ticker: ELO) reports its highest quarterly

EBITDA to date of EUR 49.1 million for the third quarter of 2025,

corresponding to a margin of 17.0%. Organic revenue grew by 1.2%

year-over-year to EUR 289.7 million, driven by continued momentum in the

Americas, with sales growth of 18% year-over-year on a constant currency

basis. The U.S. plant in Little Rock delivered its first profitable quarter,

marking a key milestone in Elopak's strategic expansion. One year ahead of

plan, Elopak announces today the decision to accelerate the capacity in Little

Rock with a third production line in response to customer demand.

Q3 2025 highlights:

* Highest EBITDA to date of EUR 49.1 million and a strong 17.0% margin with

organic revenue growth of 1.2%

* Strong sales growth in the Americas, up 18% year-over-year on a constant

currency basis. The new U.S. plant in Little Rock continues to ramp up

commercial production, successfully delivering its first profitable quarter

* Decision to accelerate capacity expansion in Little Rock with 30 MUSD

investment in a third production line

* The Group's balance sheet improved during the quarter, with solid cash flow

reducing net debt by EUR 34 million and leverage to 2.1x

Commenting on Elopak's performance, CEO Thomas Körmendi said:

"This quarter demonstrates how our strategy is translating into real progress

- realizing growth in our global markets, expanding our product portfolio to

better serve and grow with our customers, and advancing the shift away from

plastics. The profitability milestone in Little Rock and the decision to

invest in a third production line reflects our confidence in the Americas and

our commitment to long-term partnerships and to sustainable, high-quality

packaging solutions that meet our customers' needs."

Every quarter ahead of the earnings announcement, Elopak collects earnings

estimates from the equity analysts currently covering Elopak. The consensus

estimates and the methodology used are published on the Elopak's Investor

Relations website:

www.elopak.com/investor-relations/share-information/analyst-coverage/.

The Q3 2025 results will be presented on October 28, 2025, at 09:00 CET at

Hotel Continental, Stortingsgaten 24/26, Oslo. The presentation will be held

in English by CEO Thomas Körmendi and CFO Bent Kilsund Axelsen. To access the

live webcast of the results presentation, use the following link:

https://channel.royalcast.com/landingpage/hegnarmedia/20251028_2/

(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fchannel.royalcast.com%2Flandingpage%2Fhegnarmedia%2F20251028_2%2F&data=05%7C02%7Cerica.honningsvaag%40elopak.com%7Cd150795a902f412da91908ddef9d0b65%7C8e8910dbd7c34cab871a96e46fb6b55a%7C0%7C0%7C638930179992764651%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=7N7%2BV1LuEAZBz1fZkj10gRBYCTsp%2FadgbLAbdCv%2Bn1g%3D&reserved=0)

For the full report and presentation, please see the attachment or visit

www.elopak.com/investor-relations

(https://www.elopak.com/investor-relations/).

For further information, please contact:

Christian Gjerde, Head of Treasury and Investor Relations

E-mail: christian.gjerde@elopak.com

Tel: +47 980 60 909

Erica Binde Honningsvåg, Investor Relations and Treasury Officer

E-mail: erica.honningsvaag@elopak.com

Tel: +47 975 91 102

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication at

2025-10-28 07:00 CET.

About Elopak

Elopak is a leading global supplier of carton packaging and filling equipment.

The company's iconic Pure-Pak® cartons are made using renewable, recyclable

and sustainably sourced materials, providing a natural and convenient

alternative to plastic bottles that fits within a low carbon circular economy.

Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in

2021. Today it employs 2,850 people and sells 16 billion cartons annually

across more than 70 countries.

Elopak is a UN Global Compact participant member. We have set Science Based

Targets to reduce emissions in line with the 1.5-degree trajectory and aim to

be Net-Zero by 2050. In 2023, we achieved a gold rating by EcoVadis and were

rated top 2% sustainable companies in the world.

For more information, go to www.elopak.com or follow us @Elopak on LinkedIn.