Polyram Plastic Industries Ltd. — Investor Presentation 2025

Nov 19, 2025

November 2025

Disclaimer

• This presentation was prepared by Polyram Plastic Industries Ltd. (hereinafter: the "Company" and/or "Polyram") as a general presentation about the Company and is not intended to replace the need to review Polyram's full reports to the Securities Authority and the Tel Aviv Stock Exchange. Including, inter alia, Polyram's periodic reports including the Polyram's periodic report for 2024, third quarter of 2025 and immediate reports (hereinafter: "Polyram's Reports") prior to making a decision regarding investment in Polyram's securities.
• The information contained in the presentation does not constitute advice, recommendation, or opinion regarding investment and does not constitute an offer to invest and/or purchase securities of Polyram (and in particular does not constitute an "offer to the public" or "sale to the public" of any kind) and does not replace the independent examination and personal advice according to the unique needs of each investor. Such an offer shall be made only in accordance with the provisions of the law, after obtaining the necessary permits from the Securities Authority and the stock exchange.
• This presentation includes a summary of the issues described in the context in which they are discussed and not the full information available to Polyram in relation to these issues and does not include the full results and financial information of Polyram and the notes to them, and/or Polyram's business plans and/or Polyram's risk factors.
• The presentation includes data on international markets, including growth volumes, penetration rates, sales, statistics, etc. It should be emphasized that this data is based on public data and Polyram's assessments and does not constitute any facts and/or representations.
• This presentation may include forward-looking information as defined in the Securities Law, 1968 (hereinafter: "forward-looking information"), including forecasts, and subjective assessments by Polyram's management as of the date of publication of the presentation, which although Polyram believes are reasonable, which are inherently uncertain, estimates and information regarding future events.
• The forward-looking information is solely aimed at the date to which it relates and is uncertain, unpredictable, and affected by factors beyond the control of Polyram, each of which, or a combination thereof and the realization of which risk factors characterize Polyram's activities, may materially impair results. The activities of Polyram cause the actual results to be materially different from the forward-looking information.
• Except as an undertaking to disclose information as required by the securities laws applicable to Polyram. Polyram does not undertake to update or change any information contained in this presentation in order to reflect events and/or circumstances that will apply after the date of its preparation. It is clarified that Polyram's plans and strategy included in this presentation are correct as of the date of their publication and may and will change in accordance with the decisions of the Company's Board of Directors from time to time.
• Polyram's assessments regarding Polyram's objectives are based, inter alia, on Polyram's assessments regarding trends in the Company's business in particular and trends in the market in which Polyram operates in general, as well as Polyram's management assessments regarding potential and market trends in Israel and international markets as of this report. These assessments may not materialize and/or materialize significantly differently from Polyram's assessments, inter alia, as a result of factors external to Polyram and which are not under control, including, inter alia, changes in the economic situation in Israel and abroad.
• To the extent that there is a conflict between what is stated in this presentation and what is stated in the Company's reports required by law, what is stated in the Company's reports will prevail.

Polyram – Overview

Polyram is a global Leader in developing, manufacturing and marketing of advanced functional raw materials for the plastic industry worldwide

Three operating divisions:

• Bondyram
• Engineering Plastics (EP)
• Polytron

Established in

1986

1,400 products

Sophisticated

manufacturing processes

Tailor Made solutions

Over 1,000 customers

Financial Data (ILS in millions)

	1-9.2025	1-9.2024	Q3.2025	Q3.2024
Revenues	722	778	226	267
Net Income	45	82	10	27
EBITDA	109	132	32	44

Management

Solid, Loyal and Experienced Management Team

Ishay Davidi Chairman of the Board Founder and CEO of the FIMI Fund

Yuval Peleg | CEO 33 years in the company CEO since 2015

Netanel Guez CFO 9 years

Dror Zur CPO 39 years

Idan Rephaeli COO 7 years

Amit Koren Local Market Manager 4 Years

ZivHerling Bondyram Manager and VP Global Sales 24 years

Eliyahu Katan Bondyram TL Manager 11Years

Gabriela Marziparo Polytron Manager 15Years

Efrat Gilat EP Export Manager 2 Years

Ofir Kayam EP category sales specialist 12Years

YaaraAvrahami Quality Manager 25Years

The Plastic Industry - Value Chain

CEO Highlights

Polyram signed an agreement to acquire 51% of Lapo Compounds, an Italian leader in engineering materials with operations in Italy and Morocco, acquiring Lapo will add additional growth engine to Polyram and will extend our product range andwill create commercial and operational synergies.

Our Thailand plant has commenced commercial operations, serving both existing and new customers, and opening doors to Southeast Asian markets like Indonesia and Malaysia. Due to strong demand, we are adding a third production line, scheduled to start in about a year.

Our U.S. operations remain a major growth engine, with activity levels increasing significantly.

The expansion of our U.S. plant is expected to be completed in the coming days and is anticipated to improve operational efficiency and enhance our ability to meet growing demand

In line with our strategic expansion and following recent automotive project wins in Mexico for the U.S. market, the company is establishing a subsidiary in Mexico, scheduled to begin operations in early 2026 to support this growth.

The Company maintained its sales volume in tons despite a decline in revenue, mainly due to lower selling prices and currency fluctuations.

Despite the continued decline in the local market, the company has fully maintained its existing customer base and projects, and accelerating growth through strategic expansion in international markets

Polyram is actively pursuing strategic M&A opportunities to drive accelerated growth and reinforce our leadership in the market.

Lapo Compound

The company has manufacturing sites in Italy and Morocco.

It specializes in the automotive industry in Italy, Eastern Europe, and North Africa. specializing in unique polypropylene compounding with advanced additives and recycled materials

The acquisition of the company aligns with Polyram's strategy to expand in the European market, in addition to the growing automotive industry in North Africa.

• Acquiring additional manufacturing capabilities in Europe and establishing continental distribution – empowers Polyram to launch new products, secure major projects through its European subsidiaries, and deliver bulk material supply efficiently
• Penetration into the Italian and Eastern European markets – market development for the entire Polyram product portfolio through the company's distribution network
• Entry into the North African market via the plant in Morocco
• There is future potential for expanding the plants in Italy and Morocco
• The acquisition was made at a multiple of approximately 6X on EBITDA

EUR ' M	H 1 -2025 (Unaudited)	2024 (Audited)	2023 (Audited)
Revenue	10 3	17.5	19 3
Net Profit	1.6	1.6	2.1
EBITDA	2 4	3.1	3.7

Polyram Thailand

Polyram is establishing a production site in Thailand for Bondyram products, with an investment of approximately \$5 million

The plant began operations at the start of Q4 and has already started supplying materials to customers

Two production lines are up and running, with room for future expansion. Due to strong demand, an additional line has been ordered and is expected to become operational within approximately one year.

The establishment of the plant will shorten the supply chain for Bondyram products in East Asia and allow the company to penetrate to new markets ,leveraging Thailand's strategic location and favorable regulatory environment

The company has entered into several distribution agreements across new markets, including Indonesia, Malaysia, the Philippines, and Australia

Polyram USA

Polyram USA Expands: Plant Doubled, New Subsidiary formed in Mexico

Polyram identifies the USA as a strategic target and a key growth driver for the coming years

The factory expansion is on track, with completion expected in November 2025

Following recent project wins in the Mexican automotive sector, with a primary focus on the U.S. market, and in conjunction with the strategic, large-scale expansion of our U.S. facility, we are currently in the process of establishing a subsidiary in Mexico. This new company will commence operations in early 2026 to provide essential support for our activities

Growth engines of Polyram

As a global company, we ensure business continuity and maximum operational efficiency through decentralized production of all product divisions across at least three strategic manufacturing sites on different continents.

Accelerating global growth by entering Eastern European markets and tapping into Morocco's emerging automotive sector through the strategic acquisition of LAPO Group.

Polyram has established its presence in the American market by doubling our manufacturing footprint, bringing all three product divisions into full production at our U.S. facility, and building a robust, nationwide distribution network

The company aims to develop synergies in the German market, the most industrialized country in Europe, by distributing Polyram products to MCT customers.

Expanding the market for elastomer products, particularly thermoplastic rubber produced at MCT, throughout Europe using its subsidiaries and the local market.

Our expansion into the Southeast Asian market through the establishment of a strategic manufacturing facility in Thailand lays a strong foundation for significant growth and deeper penetration into new markets.

Innovation-Recycling-Sustainability

Polyram's field of material recycling is regarded as one of the company's primary growth engines

Development and marketing of recycled materials Polyram UK specializes in recycled materials.

Acquisition of LAPO, developer of a unique polypropylene compound with recycled aluminum, certified for automotive use

Entering to recycling market through the acquisition of MCT specializing in rubber and polyolefins and incorporating recycled materials.

Dedicated production lines-to meet the increasing demand in the field of recycling, dedicated production lines have been established at a factory in UK and a factory in Israel.

Entering into new projects in the automotive industry-In a bid to improve the sustainability of their operations, more automotive manufacturers are making use of recycled material in vehicle interiors.

Progress in the ESG indicators, environment, Social and Corporate Governance, while building and managing an environmental policy.

Global Footprint

9 Production sites

13 Subsidiaries

9 Logistic centers

40+ Distributors

Polyram • Milestones

Strong and Consistent Growth

Diversification and risk reduction

End Markets Product Lines

Diversification and risk reduction

Geographic Diversification81% Export

Customer Diversification

Biggest customer < 5% of total revenue

20 of the Biggest customers = only 15% of total revenue

Direct sales to end producers ~ 89%

98% < Of the company's customers are covered by full credit insurance

Sales - ILS (M) & Quantities (K)

Product Lines

Maximum production capacity of ~151,850 Tons

Current utilization ~65% Capacity

During 2021-2024 investment in increasing production capacity and operational efficiency, in order to meet expected demand in coming years

In response to a surge in orders in the U.S. and Asia, the company has decided to acquire additional production lines expanding EP capacity in the U.S. and Bondyram capacity in Thailand, which will add approximately 10,000 tons of production capacity

The acquisition of LAPO increases Polyram's production capacity by approximately 33,000 tons at its plants in Italy and Morocco, paving the way for future growth.

Bondyram

Bondyram Revenues

Tie Layers

Tie Layers are used in extrusion-based products. It enables integration of several layers with different functionalities.

Products and Applications

Pharma and Cosmetics Packaging

Food Packaging

Main customers

Growth Engines and Growth potential

Tie Layers

Establishing a dedicated plant in Thailand to serve Southeast Asian countries, including China and India.

Strategically penetrating the cable sector with next-generation solutions replacing PVC cables

Penetration into other industries such as the water transmission industry for infrastructure and construction.

The TL market is highly concentrated, with 80% of the total market supplied by five major global competitors.

Coupling Agents and Impact Modifiers

• Coupling Agents –solutions to couple between different polymers and glass-fibers
• Impact Modifiers –provide compounds with special functionalities

Products and Applications

Compounders (such asPolyram)

Cables

General plastic and wood products

Main customers

Growth Engines and Growth potential

Coupling Agents and Impact Modifiers

Establishment of a dedicated factory and production lines for the American market.

Development of innovative products through the R&D department for unique applications.

The launch of an innovative impact enhancer for the American market, the fruit of a 5-year development process.

Polyram is a market leader in the field.

Engineering Plastics

• Polyram develops tailor-made solutions and raw materials for plasticbased applications
• We provide customers with special functional raw materials with unique characteristics such as fire resistance, flexibility, UV resistance, and more
• Strengthening our U.S. presence by leveraging our plant, building a skilled local team, and launching a second production line in Q2 2026.
• Entering the world of recycling engineering materials at the Israeli site, for us and our customers
• Entering the world of thermoplastic rubber by Purchasing MCT plant in Germany
• We have appointed a new manager for the European market for the thermoplastic rubber.

EP revenues (in millions ILS) 2015-2024

Products and Applications

Automotive Irrigation Other

Editorial credit: Teddy Leung / Shutterstock.com

Main customers

Polyram MCT

Belongs to Engineering Plastics Product Line and includes 2 sectors:

• Polyolefins with minerals and glass fibers
• Thermoplastic rubber (elastomer)

Polyram MCT is integral to Polyram's strategy for expanding in the European market, ensuring proximity to customers and establishing production within Europe:

• Polyram MCT manufactures in Europe and leads continentallyenabling competition for large polyolefin projects in Europe and bulk material supply.
• Foundation for market development of Polyram products in Germany – developing the market for the entire portfolio of Polyram products through the company's distribution network.
• Thermoplastic rubber sector – a complementary product to Polyram's portfolio, which the company is beginning to distribute through its group companies in Europe and Israel.
• Potential future expansion of the plant.

Center console

Springs for an adjustable bed

Gear cover

<-- PDF CHUNK SEPARATOR -->

Key Growth Engines

Launching production in the U.S. with two advanced lines at our Evansville plant.

Geographic expansion – New geographical markets, fast-growing markets such as South-East Asia, and traditional markets such as Germany, North America, and more

Execution of acquisitions and mergers strategy of manufacturers of engineering thermoplastic compounds in Europe, USA and the East

Developing next-generation products with advanced materials and unique features, while forging strategic partnerships beyond our core manufacturing.

Penetrating the carbon fiber market in the field of engineering thermoplastic composites

Expanding into the plastic recycling market through partnerships with our subsidiaries Polyram UK, MCT, and LAPO.

Global supplier for the European and American markets and supplying from Israel to the local market and the rest of the world

Polytron

• Polytron products mainly serve the Automotive Industry
• Mercedes, BMW, and Ford are among the company's key customers
• Unique qualities of Polytron based products allow the replacement of metal components with light-weight plastic based solutions
• Providing solutions for improving mechanical properties to end products in the automotive industry
• Global automotive supplier, operating in all three major continents of the industry
• Entering the electricity cabinets market in the US

Polytron revenues

(in millions ILS) 2015-2024

key features

• Each new car contains 4-6 kg of long-fiber products
• Polytron products serve additional applications in a non-significant way

Main customers

• Diverse certifications from leading OEMs and Tier1 suppliers
• Global manufacturing, supply, and service capabilities

Key Growth Engines

Geographic expansion - further penetration to the US market leveraging our three production line capacity in our US Plant.

Establishing a Mexican subsidiary for distributing Polytron products to the Mexican and US automotive industry

Maintaining the status of Polyram, as a leading supplier to the automotive industry, with global distribution channels on three continents

Polyram obtains OEMs and Tier 1 certifications which are a major barrier to market development

Strengthening the company's presence in direct marketing channels to OEM

Innovation – development of new long-fiber-based solutions to the automotive industry

Polyram is one of the top ten suppliers in the global market

P&L M-ILS

	2025		2024
	Q3	Q2	Q1	Q4	Q3	Q2	Q1	2024 2023	2022	2021	2020
EP	137	138	140	127	150	137	146	560	576	651	511	378
Bondyram	69	88	78	76	89	93	79	338	327	349	306	206
Polytron	21	24	29	21	27	28	27	103	98	104	90	71
Sales turnover	226	249	247	224	267	259	252	1,001	1,001	1,104	907	655
Gross profit	44	55	47	45	55	58	56	214	195	201	201	140
Gross profit margin	19.6%	21.9%	19.0%	20.1%	20.7%	22.4%	22.2%	21.4%	19.5%	18.2%	21.1%	21.3%
R&D expenses	1	1	1	1	1	1	1	5	4	3	3	3
S&M expenses	16	15	15	13	15	15	15	59	55	46	40	35
G&A expenses	6	7	6	5	6	6	6	22	22	21	19	13
Other expenses (income), net	-	-	0	0	-	-	-	0	-	3	-	3
Operating profit	22	32	24	25	34	36	34	129	114	129	139	86
Operating profit margin (w/o other expenses)	9.6%	12.8%	9.8%	11.4%	12.6%	13.9%	13.3%	12.8%	11.4%	11.9%	15.4%	13.1%
Financing expenses (income), net	10	20	(3)	16	3	3	3	26	19	11	21	11
Income taxes	2	2	3	(1)	4	5	3	11	10	13	18	12
Net profit	10	10	25	10	27	28	27	92	85	104	100	63
Net profit margin	4.4%	4.0%	10.1%	4.5%	10.1%	10.7%	10.7%	9.2%	8.5%	9.4%	11.0%	9.6%
EBITDA	32	43	34	36	44	46	43	168	153	166	166	113
EBITDA margin	14.3%	17.1%	13.7%	16.0%	16.4%	17.7%	16.9%	16.8%	15.2%	15.0%	18.3%	17.3%
CAPEX	23	22	4	13	10	8	4	34	35	*33	21	11

^* In addition to the MCT acquisition of 89M-ILS. 27

BS M-ILS

	30.09.2025	30.09.2024	31.12.2024
Inventory	332	323	339
Current maturities of borrowings and current borrowings	288	234	216
Borrowings from banks	45	63	54
Equity	654	652	646

	30.09.2025	30.09.2024	31.12.2024
Operating working capital	442	447	413
Net debt to EBITDA	1.77	1.42	1.29

Since 2021, the company has distributed 250 M-ILS in dividends

Net liabilities to EBITDA

1.77X

Current ratio 1.57

Debt development M-ILS

SUMMARY

Technological leadership, customer loyalty and high quality products

Entering the recycling engineering materials world, in the Israeli and UK sites

Industry and geographical distribution (a variety of industries such as: irrigation and water supply, packaging and food, vehicles and automotive, using worldwide production and distribution channels)

Dividend and cash flow policy in correlation with the company's growth

Significant growth engines in the TL and adhesives divisions, the automotive industry and the plant in the US

Powerful platform for mergers and acquisitions

Significant growth potential in all product divisions Strength and economic resilience

Thank You