EPL LIMITED — Regulatory Filings 2024

May 28, 2024

May 28, 2024

BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, C/1, Block G,
Dalal Street, Mumbai - 400001	Bandra-Kurla Complex, Bandra (E), Mumbai - 400051
Scrip Code: 500135	Trading Symbol: EPL

Sub. : Investor Presentation - EPL Limited ("Company")

Ref. : 1. Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ("SEBI LODR Regulations")

2. ISIN: INE255A01020

Sir/ Madam,

In terms of the above referred provisions of the SEBI LODR Regulations, please find enclosed herewith, a copy of the Investor Presentation on the Audited Standalone and Consolidated Financial Results of the Company for the quarter and financial year ended March 31, 2024.

The said Investor Presentation will also be available on the website of the Company i.e. https://www.eplglobal.com/.

This is for your information and records.

Thanking you.

Yours faithfully, For EPL Limited ONKAR DEEPAK GHANGURDE

Digitally signed by ONKAR DEEPAK GHANGURDE Date: 2024.05.28 16:52:47 +05'30'

Onkar Ghangurde Head - Legal, Company Secretary & Compliance Officer

Encl.: As above

EPL LIMITED

(Formerly known as Essel Propack Limited)

Q4FY24 Earnings Presentation

Safe Harbour

Certain statements in this presentation concerning our future growth prospects are forward-looking statements. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in packaging industry including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, industry segment concentration, our ability to manage our operations, reduced demand for packaging products in our key focus areas, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which is EPL (Formerly known as Essel Propack Limited) has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.

Key topics

• Q4FY24 Highlights and Financial Performance

Quarterly financial performance in the following slides is based on company performance including Brazil operations.

• Update on Key Initiatives

• Growth Drivers
• Sustainability: Product, Process, People
• Awards and Recognition
• Looking Ahead
• Appendix

Q4FY24 Highlights – EBITDA continues to grow at solid 16.5%

• Revenue growth at 6.2%; Robust underlying business growth partially offset by negative pricing impact
• 2 Strong EBITDA margin at 18.5% (+164bps YoY). EBITDA grew by 16.5% vs PY (6 th straight quarter of strong double digit growth). Margin stable vs previous quarter despite seasonality
• 3 Underlying PAT excl exceptional items and one-off tax refund grew +22% YoY driven by EBITDA growth. However, reported PAT declined 73.5% due to exceptional items of Rs.605Mn in Q4FY24 and one-off tax refund of Rs.165Mn in Q4FY23.
• EBITDA growth resulting into marginally lower Net Debt/EBITDA at 0.84x vs 0.85x of PY 4
• 5 Return on Capital employed increased to 14.7% with YoY increase of 148 bps
• 6 Revenue growth at 6.0% for the year
• 7 Strong EBITDA margin for FY24 at 18.2% (+202 bps YoY) . EBITDA grew by 19.2% YoY and PAT (excluding exceptional items) growth is 20.1%

FY24

Q4FY24

1

(INR million)

Q4FY24 Consolidated Financial Highlights

Revenue across regions – AMESA (+4.6%), EAP (+4.1%), Americas (+15.9%), Europe (+2.4%) ; India Standalone (+5.9%)

EBITDA margin at 18.5%; increase of 164 bps YoY

(1) Adjusted PAT available to shareholders excludes exceptional items and one-off tax refunds. Refer page 9 for walk between reported and adjusted PAT.

EPL Limited Q4FY24 Earnings Presentation

3,871 3,746 EPL – Capital Efficient, Sustainable Revenue and EBITDA Growth (INR million) Growth Capital Efficiency Revenue EBITDA EPS (excl. Exceptional items) ¹ (INR) Capex ROCE Q4FY23 Q4FY24 Growth As of Mar 23 As of Mar 24 1,639 1,909 2.14 2.60 FY23 FY24 21.5% 16.5% 6.2% Net Debt 9,693 10,292 13.2% 14.7% 5,063 6,026

(1) EPS Excluding Exceptional items as per details on Page 9. EPS including exceptional items at 0.70

(INR million)

FY24 Consolidated Financial Highlights

Revenue across regions – AMESA (+3.6%), EAP (+10.1%), Americas (+12.9%), Europe (+5.8%) ; India Standalone (+5.9%)

EBITDA margin at 18.2%; increase of 202 bps YoY

(1) Adjusted PAT available to shareholders excludes exceptional items and one-off tax refunds. Refer page 9 for walk between reported and adjusted PAT.

EPL Limited Q4FY24 Earnings Presentation

3,871 3,746 EPL – Capital Efficient, Sustainable Revenue and EBITDA Growth (INR million) Growth Capital Efficiency Revenue EBITDA EPS (excl. Exceptional items) (INR) Capex ROCE FY23 FY24 Growth As of Mar 23 As of Mar 24 5,991 7,143 6.17 7.89 FY23 FY24 27.9% 19.2% 6.0% Net Debt 36,941 39,161 13.2% 14.7% 5,063 6,026

EPL Limited Q4FY24 Earnings Presentation (1) EPS Excluding Exceptional items as per details on Page 9. EPS including exceptional items at 6.70

Adjusted PAT walk - Exceptional ítems and one offs

Adjustments	Q4FY23	Q4FY24	Growth	FY23	FY24	Growth
Reported PAT	843	223	-73.5%	2,267	2,132	-6.0%
• Exceptional forex loss in Egypt on devaluation of currency	-	+465		-	+465
• Europe restructuring cost	-	+140		-	+140
• Translation loss on dissolution of Tubopack de Colombia S.A.S				+11
PAT Excluding Exceptional Items	843	828	-1.8%	2,278	2,737	20.1%
One off Tax Refund	-165	-		-321	-226
PAT Excluding Exceptional Items and One offs	678	828	22.1%	1,957	2,511	28.3%

Solid margin Recovery in FY24; Q4FY24 EBITDA margin higher by 1.6pp vs Q4FY23

Key topics

• Q4FY24 Highlights and Financial Performance

Quarterly financial performance in the following slides is based on company performance including Brazil operations.

• Update on Key Initiatives

• Growth Drivers
• Sustainability: Product, Process, People
• Awards and Recognition
• Looking Ahead
• Appendix

Update on Growth Drivers

Continued emphasis on Beauty & Cosmetic category, actively pursuing smaller customers. Most of the increased sales headcounts in place.

• 2 Progressing on flexibility measures for smaller quantities across 3 regions: EAP ready, AMESA and Europe in process.
• Brazil lead customer demand fulfillment in place; new customers acquisition in advance stage. 3
• 4
• Neo-seam technology available across regions and gaining adoption.

The initiatives have started contributing to growth momentum and will play a critical role in delivering double digit revenue growth in future

'Personal Care & beyond'* category contribution stood at 47% in FY24

* 'Personal Care and beyond' includes Beauty & Cosmetics, Pharma etc

Sustained momentum on new business wins through innovation and sustainable offerings

New Innovations

SHEGLAM Body Highlighter Glitter Gel

Long nozzle tube with inbuilt "Fresh lock" valve to prevent air suck-back

Anodized aluminum massage applicator and metalized cap

Strengthening Sustainability

Sunsilk Scrub converted from extruded tubes to sustainable HDPE Laminate tube

14 P&G Prosecco HKTW tube

Conversion to Tubes

ACRYLIC Faber castell converted from Aluminium to Lami tubes

SKF GREASE converted from PET Jar to tubes

CodeSkin in INDIA converted from bottles to tubes

Sustained momentum on new business wins through venturing into new markets

EPL Limited Q4FY24 Earnings Presentation

Pharma Products- Taiwan

Sustainability: Scaling Up Recyclable Volumes with Continuous Improvement

People Sustainability: Embracing Corporate Social Responsibility

Our CSR vision is in alignment with the overall EPL ambition of becoming the most sustainable packaging company in the world. All CSR actions are a step further towards "Greening Lives" by enabling its employees, customers, communities, and all other stakeholders live sustainably. All CSR programs are a step further towards achieving 7 select UN's Sustainable Development Goals (SDGs)

Plastic Waste Management Community Welfare Skill Development

• 21,977 Kgs of community plastic waste recycled
• 1190 benches donated across 19 schools
• 9135 families & 16 schools covered through awareness sessions

• 2665 students impacted across 5 schools linked to quality education (school amenities and infrastructure building)

• 3092 villagers impacted through rural development projects of drinking water and street lights

On boarded 92 D.Voc trainees

and 193 apprentices through our skill development scheme

Key topics

• Q4FY24 Highlights and Financial Performance

Quarterly financial performance in the following slides is based on company performance including Brazil operations.

• Update on Key Initiatives

• Growth Drivers
• Sustainability: Product, Process, People

• Awards and Recognition

• Looking Ahead
• Appendix

Awards: Celebrating Excellence in Innovation, People Practices, and Corporate Social Responsibility

Best employers in India by Kincentric for 2023 Tubes innovation awards at SIES SOP Star Best CSR Practices by World HRD Congress

Key topics

• Q4FY24 Highlights and Financial Performance

Quarterly financial performance in the following slides is based on company performance including Brazil operations.

• Update on Key Initiatives

• Growth Drivers
• Sustainability: Product, Process, People
• Awards and Recognition
• Looking Ahead
• Appendix

Looking Ahead: Achieving double digit growth with 20%+ margins

Sustained Double Digit Revenue Growth	Sustainability led Competitive Advantage	Continued Margin Expansion to deliver 20%+ EBITDA
In Short term • Revenue Growth to be impacted by RM prices softening	• Strong Product portfolio with backend capability	• Strategic Price Management
Exciting Opportunity Going Ahead • Aggressive 'Personal Care &	• Customers have committed to ambitious sustainability targets	• War On Waste
Beyond' Play o Large Category Opportunity	• We are prepared to partner them in the journey	• Continued Insourcing
o Our 'Right To Win' has improved significantly through innovations	• We are pitching for EcoVadis Platinum which will further	• Manufacturing Realignment e.g. Europe Restructuring
o We are investing in Org and Backend capabilities • Brazil Scale up	establish us as leading sustainable packaging company	• Automation Investments

Key topics

• Q4FY24 Highlights and Financial Performance

Quarterly financial performance in the following slides is based on company performance including Brazil operations.

• Update on Key Initiatives

• Growth Drivers
• Sustainability: Product, Process, People
• Awards and Recognition
• Looking Ahead
• Appendix

Q4FY24 Performance – AMESA and EAP

	AMESA
Particulars	Q4FY23	Q4FY24	% change	Q3FY24	% change
Revenue	3,379	3,536	4.6%	3,500	1.0%
EBITDA	756	703	-7.0%	693	1.4%
EBITDA %	22.4%	19.9%		19.8%
EBIT	423	415	-1.9%	391	6.1%
EBIT %	12.5%	11.7%		11.2%
			EAP
Particulars	Q4FY23	Q4FY24	% change	Q3FY24	% change
Revenue	2,141	2,229	4.1%	2,524	-11.7%
EBITDA	386	410	6.2%	546	-24.9%
EBITDA %	18.0%	18.4%		21.6%
EBIT	248	272	9.7%	412	-34.0%
EBIT %	11.6%	12.2%		16.3%

Q4FY24 Performance – Americas and Europe

Particulars Q4FY23 Q4FY24 % change Q3FY24 % change Revenue 2,299 2,664 15.9% 2,528 5.4% EBITDA 223 478 114.3% 409 16.9% EBITDA % 9.7% 17.9% 16.2% EBIT 59 240 306.8% 175 37.1% EBIT % 2.6% 9.0% 6.9% Particulars Q4FY23 Q4FY24 % change Q3FY24 % change Revenue 2,502 2,563 2.4% 2,076 23.5% EBITDA 285 283 -0.7% 189 49.7% EBITDA % 11.4% 11.0% 9.1% EBIT 134 99 -26.10% 23 330.4% EBIT % 5.4% 3.9% 1.1% Europe Americas

FY24 Performance – AMESA and EAP

AMESA

EBIT % 14.6% 15.6%

Particulars FY23 FY24 % change Revenue 13,691 14,185 3.6% EBITDA 2,576 2,827 9.7% EBITDA % 18.8% 19.9% EBIT 1,469 1,617 10.1% EBIT % 10.7% 11.4% Particulars FY23 FY24 % change Revenue 8,498 9,356 10.1% EBITDA 1,749 2,009 14.9% EBITDA % 20.6% 21.5% EBIT 1,237 1,463 18.3% EAP • India Standalone revenue growth at 5.9% • EBITDA Margin at 19.3%(+184 bps YoY) • EBITDA grew by 17.1% vs PY • EBIT grew by 25.2% vs PY

FY24 Performance – Americas and Europe

Particulars FY23 FY24 % change Revenue 8,758 9,889 12.9% EBITDA 987 1,409 42.8% EBITDA % 11.3% 14.2% EBIT 379 530 39.8% EBIT % 4.3% 5.4% Particulars FY23 FY24 % change Revenue 8,435 8,927 5.8% EBITDA 765 924 20.7% EBITDA % 9.1% 10.4% EBIT 202 247 22.3% EBIT % 2.4% 2.8% Europe Americas

Polymer prices comparatively stable in last 2 quarters, aluminum foil witnesses a marginal change

• Polymer and foil USD prices have declined from Q1 FY23 but stable in the last 2 quarters, however the prices remain higher than pre-Covid level.
• Ocean freight rates see an increase due to red sea issues

Egyptian Pound experiences sharp devaluation against USD in Mar'24

EPL Limited Q4FY24 Earnings Presentation

About EPL

(Formerly known as Essel Propack Limited)

EPL Limited Q4FY24 Earnings Presentation

EPL: Company Overview

Q4FY24 Earnings Presentation

EPL Caters to Marquee Customers Across Trillion Dollar Categories

* 'Personal Care and beyond' includes Beauty & Cosmetics, Pharma etc

About EPL

EPL is the largest global specialty packaging company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space. Employing over 3,500+ people representing over 25 different nationalities, EPL functions in eleven countries through 21 state of the art facilities, and is continuing to grow every year.

EPL is the world's largest laminated tube manufacturer with units operating across countries such as USA, Mexico, Colombia, Brazil, Poland, Germany, Egypt, China, Philippines and India. These facilities cater to diverse categories that include brands in Oral Care, Beauty & Cosmetics, Pharma & Health, Food, and Home, offering customized solutions through continuously pioneering first-in-class innovations in materials, technology and processes.

EPL (Formerly known as Essel Propack Limited) CIN : L74950MH1982PLC028947

For further information contact: Aloke Sharma Aloke.sharma@eplglobal.com

Thank You

Corporate Office

EPL LIMITED

Top Floor, Times Tower, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India. Telephone: 022 24819000 Website: https://www.eplglobal.com CIN:L7495MH1982PLC028947