Silgan Holdings Inc 8-K, filed Oct 19, 2026
Silgan Holdings Inc (SLGN)
About this 8-K
Silgan Holdings Inc filed this 8-K on October 19, 2026.
Silgan Holdings announced a partnership with AIP to acquire Trivium Packaging for $3.4 billion enterprise value, retaining 60% control of the new Silgan MCC entity and receiving ~$2.3 billion in cash proceeds. AI summary
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
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FORM
CURRENT REPORT
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Section 7—Regulation FD
| Item 7.01 | Regulation FD Disclosure. |
On October 19, 2026, Silgan Holdings Inc. (the “Company”) announced proposed transactions for its creation of a partnership with an investment vehicle affiliated with funds managed by AIP, LLC for the Company’s Metal Containers segment and food and beverage flat cap closures businesses and the partnership’s proposed acquisition of Trivium Packaging B.V., a Netherlands company (“Trivium”). Trivium is a global supplier of metal packaging for the world’s leading brands. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
On October 19, 2026, the Company will give a presentation regarding such proposed transactions. A copy of the slides to be used in such presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
The information relating to the foregoing transactions required by Item 1.01 will be filed in a separate Current Report on Form 8-K.
Forward-Looking Statements
Statements included in this Current Report on Form 8-K which are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934, as amended. Such forward looking statements are made based upon management’s expectations and beliefs concerning future events impacting the Company, including the Company’s proposed acquisition of Trivium, and therefore involve a number of uncertainties and risks, including, but not limited to, those described in the Company’s Annual Report on Form 10-K for 2025 and other filings with the Securities and Exchange Commission. Therefore, the actual results of the Company could differ materially from those expressed or implied in such forward-looking statements.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.
Section 9—Financial Statements and Exhibits
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. |
Description | |
| 99.1 | Press Release dated October 19, 2026 | |
| 99.2 | Investor Presentation Slides dated October 19, 2026 | |
| 104 | Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document) | |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SILGAN HOLDINGS INC. | ||
| By: | /s/ Frank W. Hogan, III | |
| Frank W. Hogan, III | ||
| Executive Vice President, General Counsel and Secretary | ||
Date: October 19, 2026
3
| Silgan | Exhibit 99.1 | |
| Holdings Inc. |
Silgan Announces Strategic Portfolio Acceleration;
Establishes Partnership to Acquire Trivium
Creates a $7.3 Billion Diversified Global Metal Packaging Business
Providing Recyclable Solutions for Food and Beverage Markets
Establishes Two Differentiated Packaging Platforms, Metal Packaging and Dispensing Solutions,
with Enhanced Flexibility to Create Value for Shareholders and Customers
Metal Packaging Partnership with American Industrial Partners
Provides ~$2.3 Billion of Cash Proceeds to Silgan and 60% Ownership in the Partnership
Transaction Expected to Drive at least 15% Accretion to Silgan Adjusted EPS
and Free Cash Flow, Including Expected Synergies of $225 Million
Silgan to Host Conference Call Today at 8:00 a.m. ET
NORWALK, Conn., AMSTERDAM and NEW YORK – October 19, 2026 – Silgan Holdings Inc. (NYSE: SLGN) (“Silgan” or the “Company”), Trivium Packaging B.V. (“Trivium”), and funds affiliated with American Industrial Partners (“AIP”) today announced a proposed transaction that will combine Silgan’s Metal Containers segment and Food and Beverage Flat Cap Closures businesses with Trivium to create Silgan Metal Containers and Closures (“Silgan MCC”). The combination is a transformational next step that accelerates Silgan’s portfolio evolution and will create a best-in-class global supplier of metal packaging for essential consumer products, with complementary operations principally in North America and Europe.
The all-cash acquisition values Trivium at an enterprise value of approximately $3.4 billion, representing 7.1x last twelve months (“LTM”) Adjusted EBITDA, or 4.8x LTM Adjusted EBITDA including expected synergies of $225 million1. The transaction also values Silgan’s contributed Metal Containers segment and Food and Beverage Flat Cap Closures businesses at an enterprise value of $3.8 billion, representing 8.1x LTM Adjusted EBITDA1.
In connection with the formation and capitalization of Silgan MCC, Silgan will receive approximately $2.3 billion of cash proceeds, which will be used to retire certain existing debt, and retain 60% controlling ownership interest in Silgan MCC. AIP will own the remaining 40% interest and contribute approximately $1.0 billion of cash equity to support the acquisition and future growth of the business. The remaining Silgan MCC capitalization will be provided by fully-committed debt financing, and the partnership will establish an independent balance sheet that will be fully consolidated into Silgan’s financial statements.
Silgan’s Dispensing and Custom Containers businesses will be combined into one segment and remain wholly owned by Silgan. The new segment, which will be named Silgan Dispensing Solutions, will operate as a premium specialty packaging platform serving attractive end markets with differentiated products.
| 1 | LTM Adjusted EBITDA figures as of June 30, 2026. Adjusted EPS and Adjusted EBITDA are non-GAAP financial measures, and reconciliations to the applicable GAAP financial measures are contained in Appendix B to the presentation given by Silgan today. |
The funding structure will allow Silgan to capitalize on meaningful synergies, increase flexibility to invest for growth, and position both businesses for future value creation, without requiring meaningful incremental capital on behalf of Silgan shareholders. AIP’s capital contribution and industrial operating expertise will further support Silgan MCC’s value creation objectives.
Commentary
“This strategic portfolio acceleration reflects our commitment to value creation through deliberate portfolio construction and strategic capital deployment, enabled by the strength of our businesses and our exceptional teams. I would like to personally thank Tony Allott and the entire Silgan team for their extensive efforts related to this transaction,” said Adam Greenlee, President and Chief Executive Officer of Silgan. “We have tremendous respect for Trivium and its employees and believe this combination creates an even more differentiated global partner for food and beverage packaging customers. This transaction is expected to generate substantial value for shareholders, delivering approximately $2.3 billion of cash proceeds to Silgan while strengthening our global metal packaging business. At the same time, it establishes two focused packaging platforms, each with distinct strategies and opportunities.”
“Since 2019, Trivium has been a trusted provider of recyclable metal packaging products, serving over 800 customers around the globe. This transaction with Silgan and AIP marks the next step in our evolution, as we collectively continue to deliver valuable packaging solutions to our customers and millions of consumers around the world,” said Michael Mapes, Chief Executive Officer of Trivium. “With Silgan and AIP’s support, we will operate with increased scale and reach to advance our vision of delivering high-quality, innovative, and recyclable packaging products to consumers.”
“Silgan and Trivium are exceptional companies with strong track records, and we are excited to partner with them to help execute this value-creating transaction and capture attractive opportunities for the combined business,” said Dino Cusumano, Managing Partner of AIP. “We look forward to working with the Silgan and Trivium teams to enhance the combined value proposition for customers.”
Compelling Strategic and Financial Benefits
| • | Accelerates Silgan portfolio evolution: Establishes two differentiated packaging platforms – Silgan Dispensing Solutions and Silgan MCC – with distinct customer sets, growth opportunities, and capital allocation priorities, positioning both businesses for long-term value creation |
| • | Creates a premier, customer-focused global business in metal packaging: Brings together Silgan’s and Trivium’s complementary footprints to better serve customers with an extended geographic reach, broader product offering, and greater security of supply. The scale of the combined business unlocks additional opportunities to champion the unique attributes of metal packaging and its sustainability features, innovate for value, and drive costs out of the supply chain – improving the total cost advantage for customers. The predictable, cash-generative nature of this business provides for a compelling investment profile |
| • | Positions Silgan for accelerated growth: Creates a focused Dispensing Solutions platform, serving premium end markets with enhanced capacity to invest in innovation and customer partnerships. The new segment will increase focus on growth through investment in high-value applications, expansion of capabilities into attractive end markets and targeted inorganic opportunities. Additional financial flexibility provided by this transaction will accelerate opportunities for Dispensing Solutions to drive these strategic initiatives |
| • | Unlocks substantial and unique synergy opportunity, leveraging Silgan’s proven playbook: Expected to generate $225 million of synergies by the end of year three, through identified procurement, operational, and SG&A initiatives. Annual synergies are expected to be approximately $75 million in year one and $150 million in year two, and the transaction is expected to drive at least 15% adjusted EPS accretion for Silgan inclusive of expected full run-rate synergies |
| • | Enhances capital allocation flexibility: Delivers $2.3 billion of cash proceeds to Silgan while retaining controlling ownership of Silgan MCC, reducing leverage of Dispensing Solutions and unlocking capital for additional return-generating deployment |
| • | Increases strategic flexibility: Defines a pathway to initiate a tax-free distribution and create two entities uniquely positioned to achieve their strategic priorities |
Transaction Details and Governance
The proposed acquisition of Trivium, which has been unanimously approved by the Silgan Board of Directors, is expected to close mid-2027 and is subject to required regulatory approvals, completion of applicable works council consultation processes, and satisfaction of other customary closing conditions.
In support of the proposed transactions, Silgan MCC has obtained fully-committed debt financing from a consortium of banks, as well as a fully-committed cash equity contribution from funds affiliated with AIP.
Upon completion of the transaction, the Board of Directors of Silgan MCC will be comprised of three directors nominated by Silgan to include Anthony J. Allott, Adam J. Greenlee, and Shawn C. Fabry, as well as two directors nominated by AIP.
Silgan’s headquarters will remain in Norwalk, CT.
Outlook
In addition to announcing this transaction, the Company also confirmed its outlook for adjusted net income per diluted share for the third quarter and full year of 2026.
Conference Call
Silgan will hold a conference call to discuss the proposed acquisition at 8:00 a.m. eastern time, today, October 19, 2026. The conference call audio will be webcast live, and both the webcast and this press release can be accessed at www.silganholdings.com. Those who wish to participate in the conference call via teleconference from the U.S. and Canada should dial (800)-330-6730 and from outside the U.S. and Canada should dial +1 (646)-769-9500. The passcode for the conference call is 104050. The audio webcast can be accessed at www.silganholdings.com and will be available for 90 days thereafter for anyone unable to listen to the live call.
Advisors and Financing
Wells Fargo is serving as lead financial advisor to Silgan. BofA Securities is also serving as a financial advisor in connection with the transaction. Jenner & Block LLP is serving as legal counsel to Silgan, and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor. Sidley Austin LLP is serving as legal counsel to Silgan MCC.
Evercore is serving as lead financial advisor to Trivium and its shareholders. J.P. Morgan and BMO Capital Markets are also serving as financial advisors in connection with the transaction. Weil, Gotshal & Manges LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Trivium and its shareholders.
Goldman Sachs & Co. LLC is serving as financial advisor to AIP, and Simpson Thacher & Bartlett LLP is serving as legal counsel to AIP.
Wells Fargo, Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, Deutsche Bank Securities, and BofA Securities are providing fully-committed debt financing to Silgan MCC for the transactions.
About Silgan Holdings Inc.
Silgan is a leading supplier of sustainable rigid packaging solutions for the world’s essential consumer products with annual net sales of approximately $6.5 billion in 2025. Silgan operates 120 manufacturing facilities in North and South America, Europe, and Asia. The Company is a leading worldwide supplier of dispensing and specialty closures for fragrance and beauty, food, beverage, personal and health care, home care, and lawn and garden products. Silgan is also a principal supplier of metal containers in North America and Europe for pet and human food and general line products. In addition, the Company is a supplier of custom containers for shelf-stable food and personal care products in North America.
About Trivium Packaging
Trivium is a global supplier of infinitely-recyclable metal packaging for the world’s leading brands. Trivium has 57 locations worldwide and employs 7,200 people, with net sales of approximately $3 billion in 2025. For more information, visit www.TriviumPackaging.com.
About American Industrial Partners
American Industrial Partners is an operational and engineering focused industrial private equity investor with approximately $18 billion in assets under management. AIP seeks to achieve differentiated returns by investing in quality industrial businesses with strong management teams and working with those teams to implement transformative Operating Agendas to build long-term value. The AIP team has deep roots in the industrial economy and has completed over 145 platform and add-on acquisitions and invests in all forms of corporate acquisitions, divestitures, management buyouts, recapitalizations, and going-private transactions. Current AIP portfolio companies generate aggregate annual revenues of approximately $32 billion and employ 74,000+ employees as of March 31, 2026.
Forward-Looking Statements
Statements included in this press release that are not historical facts are forward looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934, as amended. Such forward looking statements are made based upon management’s expectations and beliefs concerning future events impacting the Company and therefore involve a number of uncertainties and risks, including, but not limited to, those described in the Company’s Annual Report on Form 10-K for 2025 and other filings with the Securities and Exchange Commission. Therefore, the actual results of operations or financial condition of the Company could differ materially from those expressed or implied in such forward looking statements.
Silgan Holdings Inc. Contacts
Investor Relations:
Alexander Hutter
Senior Vice President, Strategy and Investor Relations
AHutter@silgan.com
203-406-3187
Media:
Leigh Parrish / Joseph Sala / Eliza Rothstein
Joele Frank, Wilkinson Brimmer Katcher
Media@silgan.com
212-355-4449
Trivium Packaging Contacts
Investor Relations:
Rogier Kloek
Vice President Treasury, Investor Relations, Insurance
Rogier.Kloek@TriviumPackaging.com
+31 6 2516 4186
Media:
Tiffany Schlarman
Global PR & Marketing Communications Director
communications@triviumpackaging.com
AIP Contacts
Media:
Alex Yankus
Brunswick Group
917-818-5204
AIP@brunswickgroup.com
Exhibit 99.2 Silgan Holdings Inc. Accelerating Portfolio Evolution October 19, 2026 ©2026 Silgan Holdings. All Rights Reserved.
PRESENTATION NOTES This presentation, and the statements made during the course of this presentation, are not intended to and do not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities. Statements made in or during the course of this presentation which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made based upon management’s expectations, assumptions, beliefs, estimates and projections, many of which by their nature are inherently uncertain and beyond Silgan’s control. Accordingly, such forward-looking statements are not guarantees or promises of future performance or events and involve known and unknown risks that could cause such future performance or events to differ materially from those expressed or implied in such forward-looking statements. Additionally, such forward-looking statements only speak as of the date of this presentation, and except to the extent required by the U.S. federal securities laws, Silgan neither assumes nor undertakes any obligation to update or revise any of such forward-looking statements. You are advised to read and consider the numerous risks and uncertainties described in our Annual Report on Form 10-K for the year ended December 31, 2025 and our other filings with the Securities and Exchange Commission. Certain market, industry or similar data contained in this presentation are based upon estimates by our management. While management believes that such estimates are reasonable, in certain cases such estimates cannot be verified by information available from independent sources. While we are not aware of any misstatements regarding any market, industry or similar data contained in this presentation, such data involves risks and uncertainties and is subject to change based on various factors, including those discussed in the paragraph above. The information in this presentation is as of the date on the cover page of this presentation unless otherwise stated. All company names and trademarks used in this presentation are the property of their respective owners and are used in this presentation for identification purposes only. This presentation can be found on our website at www.silganholdings.com 1 ©2026 Silgan Holdings. All Rights Reserved.
NON-GAAP FINANCIAL MEASURES Generally accepted accounting principles in the United States are commonly referred to as GAAP. A non-GAAP financial measure is generally defined as a financial measure that purports to measure financial performance, financial position or liquidity but excludes or includes amounts that could not be so adjusted in the most comparable GAAP measure. Adjusted EBITDA, Adjusted EBIT, Adjusted EPS and Free Cash Flow (FCF) and the ratios, returns and margins calculated therefrom as contained in this presentation are unaudited supplemental measures of our financial performance, financial position or liquidity that are not required by, or presented in accordance with, GAAP and therefore are non-GAAP financial measures. These non-GAAP financial measures should not be considered as alternatives to income before interest and income taxes (EBIT), net cash provided by operating activities or any other measures derived in accordance with GAAP. Such non-GAAP financial measures should not be considered in isolation or as a substitute for any financial data prepared in accordance with GAAP and may not be comparable to similarly titled measures used by other companies. We include such non-GAAP financial measures in this presentation because we consider them to be important supplemental measures of our financial performance, financial condition and liquidity which we believe provide a more complete understanding of the Company than could be obtained absent such non-GAAP financial measures. A reconciliation of all non- GAAP financial measures used in this presentation to the most comparable GAAP financial data is included in this presentation at Appendix B and is available with this presentation on Silgan’s website at: https://www.silganholdings.com. The following non-GAAP financial measures are used in this presentation and are defined as follows. “Adjusted EBIT” means income before interest and income taxes (EBIT) as adjusted for acquired intangible asset amortization expense, other pension (income) or expense for U.S. pension plans and closed facilities, rationalization charges, the impact from charges for the write-up of acquired inventory under purchase accounting and costs attributed to announced acquisitions and including, as applicable, equity in earnings of affiliates, net of tax. “Adjusted EBITDA” means Adjusted EBIT plus depreciation. Additionally, for Trivium, “Adjusted EBITDA” includes an adjustment for non-operating foreign currency impact on related restructuring activities. “Adjusted EPS” means net income per diluted share as adjusted for acquired intangible asset amortization expense, other pension (income) or expense for U.S. pension plans and closed facilities, rationalization charges, the impact from charges for the write-up of acquired inventory under purchase accounting and costs attributed to announced acquisitions. “Free Cash Flow” means net cash provided by operating activities adjusted for changes in outstanding checks, reduced by capital expenditures and increased by proceeds from asset sales. 2 ©2026 Silgan Holdings. All Rights Reserved.
Silgan’s Unique Business Model Build and enhance Deploy strong Earnings growth business positions Free Cash Flow and value creation ü Sustainable ü Growth through ü Top tier competitive targeted earnings growth advantage acquisitions in Packaging sector ü Supply best value ü Other cash in industry by deployment to ü Consistent long- focusing on unique drive shareholder term needs of value shareholder customers value creation 3 ©2026 Silgan Holdings. All Rights Reserved.
Capital Allocation to Create Shareholder Value Multiple Levers for Growth and Returns Current Portfolio Adj. EBITDA 4 4 4 Net Sales Adj. EBITDA Margin Silgan Capital Allocation 1 Since Founding Dispensing and Specialty $2.7B $570M 21% Closures Capital CapEx 2 Capital Return Custom $122M 20% $626M Containers Deployed 45% to M&A Metal $336M 10% $3.3B Containers M&A Total Silgan $6.7B $976M 15% Acquisitions 1 Completed 41 Dispensing and Custom Containers M&A Median Specialty Businesses with distinct growth, Purchase Price Multiple margin, and capital allocation potential ~2x 3 Reduction via Synergies Metal Containers 1 Revenue CAGR Stable volume, strong free cash flow generation 7% 1 2 Silgan capital allocation metrics measured since 1989 (latest publicly available Silgan financial information); revenue CAGR measured between 1989 and 2025 | Capital return defined 3 4 as dividends and share repurchases | Refer to slide 25 for select transaction details | Financial information represents LTM 6/30/2026 amounts; Total Silgan Adj. EBITDA and Adj. 4 ©2026 Silgan Holdings. All Rights Reserved. EBITDA margin include corporate costs; Refer to slides 27-28 for reconciliations of non-GAAP financial amounts to GAAP financial amounts and calculation of Adj. EBITDA and Adj. EBITDA margin for Dispensing and Specialty Closures, Custom Containers, Metal Containers, and Total Silgan | Note: B=Billions; M=Millions
Strategic Announcement to Accelerate Value Creation ▪ Silgan is contributing its Metal Containers and Food and Beverage Flat Cap Closures businesses into a newly formed metal packaging business (“Silgan Metal Containers and Closures” or “Silgan MCC”), which will acquire Trivium Packaging (“Trivium”) and be partially funded by equity from funds affiliated with American Industrial Partners (“AIP”) and third party debt ▪ Silgan’s Dispensing and Specialty Closures and Custom Containers businesses will continue to be wholly owned by Silgan and formed into the Silgan Dispensing Solutions segment Current Transaction Pro Forma Silgan Holdings Silgan Holdings ▪ Silgan Gets 1 – $2.3B in cash – 60% ownership in Silgan MCC, which acquires Global Trivium 100% 60% 100% 100% 100% business Ownership Ownership Ownership Ownership Ownership – Operational investment partner (AIP) Silgan Dispensing Custom Metal and Specialty Containers Containers Dispensing Silgan 2 – Share of $225M expected Closures Solutions MCC synergy opportunity Dispensing Metal Solutions Containers ▪ Silgan Gives ‒ Cans – 40% ownership in Silgan MCC ‒ Closures to AIP Custom Trivium Containers ‒ Cans ‒ Aerosol Synergies 1 2 Subject to customary adjustments for cash, assumed debt, and net working capital at closing | Expected synergies by year 3 5 ©2026 Silgan Holdings. All Rights Reserved. Note: B=Billions; M = Millions
Strategic Rationale ▪ Combination of our metal packaging business and Trivium creates a best-in-class global platform, provides for $225M of expected synergies, and establishes a clear path to separation Why we are Pursuing This ▪ At the same time, our funding approach will increase flexibility for our faster-growing dispensing business, providing multiple pathways to accelerate shareholder value creation Strategic Benefits Accelerates Creates a Positions Unlocks Enhances Silgan portfolio premier, Dispensing substantial capital evolution by customer- Solutions for near-term allocation establishing focused global accelerated synergy flexibility by two best-in- business in growth through opportunity reducing class packaging metal enhanced within Silgan leverage at platforms with packaging with focus on MCC, using Silgan distinct balance global scale organic Silgan’s proven Dispensing sheets and local opportunities playbook Solutions resilience 6 ©2026 Silgan Holdings. All Rights Reserved.
Transaction Summary ▪ Silgan contributes: Metal Containers and Food and Beverage Flat Cap Closures business at an enterprise value of $3.8B (8.1x LTM Jun-26 Adj. EBITDA) Formation of Silgan MCC ▪ Funds affiliated ~$1.0B of cash investment with AIP contribute: ▪ Silgan MCC acquires Trivium in an all-cash transaction at a $3.4 billion enterprise value, 7.1x LTM Jun-26 Adj. EBITDA Acquisition of Trivium 1 ▪ Including expected synergies , acquisition multiple of 4.8x LTM Jun-26 Adj. EBITDA ▪ Acquisition funded via fully-committed debt and equity financing to Silgan MCC ▪ Independent capital structure Pro Forma Silgan MCC ▪ Equity ownership at closing: 60% Silgan, 40% funds affiliated with AIP Capitalization 1 ▪ Net debt of $4.6B and 4.0x net leverage ▪ Silgan MCC remains a fully consolidated subsidiary of Silgan for financial reporting purposes Silgan MCC Management ▪ Silgan MCC board representation: Silgan (3), AIP (2) and Governance ▪ Anthony Allott, Adam Greenlee, and Shawn Fabry will represent Silgan on the Board ▪ Subject to required regulatory approvals and satisfaction of other customary closing conditions Approvals ▪ Estimated to close in mid-2027 and Timing 1 Assuming expected synergies of $225M by year 3 7 Note: Net leverage represents estimated PF figures as of 12/31/2025; Refer to slides 26 and 29 for reconciliations of non-GAAP financial amounts to GAAP financial amounts and ©2026 Silgan Holdings. All Rights Reserved. calculation of Adj. EBITDA for Trivium and existing Silgan Metal Containers and Closures Businesses; B=Billions; M=Millions
Proposed Transaction Financing Structure ($ in Billions) Silgan MCC Sources and Uses Sources of Funds New Silgan MCC Debt $4.9 Silgan Equity Rollover 1.5 AIP Cash Equity 1.0 $7.4 Total Sources Uses of Funds Silgan Equity Rollover $1.5 Redistributes balance sheet capacity to 1 Cash to Silgan at Close 2.3 enhance flexibility and Trivium Purchase Price, Net of Assumed Debt-like Items 3.2 support Silgan’s strategy Fees, Expenses, and Other 0.2 Cash to Balance Sheet 0.3 Total Uses $7.4 Pro Forma Net Leverage Silgan MCC 4.0x 1.8x Silgan Dispensing Solutions Silgan 12/31/2025 Total Silgan 3.4x net leverage = 3.4x Represents Silgan total contribution ($3.8B) 1 Subject to customary adjustments for cash, assumed debt, and net working capital at closing Note: Adj. EBITDA excludes corporate costs; Pro forma net leverage represents estimated pro forma figures as of 12/31/2025 based on closing net debt and Silgan MCC Adj. EBITDA 8 ©2026 Silgan Holdings. All Rights Reserved. inclusive of $225M of synergies expected by year 3; Refer to slide 32 for reconciliations of non-GAAP financial amounts to GAAP financial amounts and calculation of Adj. EBITDA for Silgan Dispensing Solutions
Unlocking Benefits of a Partnership Structure Benefits AIP Partner Benefits ▪ Silgan to realize significant value today, while retaining future upside without further investment ~$18B 145 Assets Under Acquisitions ▪ Silgan maintains control to capture upside while Management reducing execution risk Fully Aligned Partner ▪ Preserves flexibility for both future cash distributions and portfolio actions Shared economics through a common equity class create alignment around long-term value creation ▪ Combines Silgan's operating expertise with AIP's resources to support integration and synergy realization Financial Flexibility Provides approximately $1B of equity capital ▪ Optimize performance in mature industry, within a growth-focused public equity market Supplements Operating Agenda Expands resources available to rapidly execute identified synergy initiatives 9 ©2026 Silgan Holdings. All Rights Reserved. Note: B=Billions
Significant Synergy Opportunity Silgan’s Proven Synergy Track Record Value Creation through Synergies Synergies Recent Acquisitions Trivium Acquisition Multiple Exceeded Target? ü 7.1x 4.8x ü ü Dispensing Pre-synergy multiple Post-synergy multiple Dispensing and ü Specialty Closures 1 High-Conviction Synergy Targets ▪ Comprehensive diligence process supports bottom-up SG&A synergy identification and accountability 20% ▪ Historical outperformance across procurement and 50% Operations $225M productivity/operational excellence Procurement 30% 1 Expected to achieve synergies of approximately $75M in Year 1, $150M in Year 2, and $225M in Year 3 10 ©2026 Silgan Holdings. All Rights Reserved. Note: Refer to slide 26 for reconciliations of non-GAAP financial amounts to GAAP financial amounts and calculation of Adj. EBITDA for Trivium; M=Millions
Creating Value and Strategic Flexibility Pro Forma Total Silgan Future Intended Separation ▪ Provides clear future pathway to establish Silgan MCC as an independent public company $9.8B 1 Net Sales ▪ Intention to distribute via a tax-free spin ▪ Separation timing governed by progress of $1.7B integration, synergy realization, business readiness, 1,2 PF Adj. EBITDA and market conditions – Controlled by Silgan At least 15% 2,3 Anticipated Adj. EPS Accretion – Commitment to move at an accelerated pace At least 15% 2,3,4 Anticipated FCF Accretion 1 2 3 4 Represents LTM 6/30/2026 amounts | Assuming expected synergies of $225M by year 3 | Accretion/(dilution) presented on a cash basis, excluding purchase accounting | Defined 11 ©2026 Silgan Holdings. All Rights Reserved. as Operating Cash Flow – CapEx; accretion excludes one-time costs to achieve synergies | Note: Adj. EBITDA includes corporate costs; Refer to slide 34 for calculation of Adj. EBITDA for Pro Forma Silgan; B=Billions; M=Millions
Differentiated Businesses Positioned to Excel Silgan MCC Silgan Dispensing Solutions 1 $7.3B $1.2B $2.5B $555M Net Sales Adj. EBITDA Net Sales Adj. EBITDA 1 1 16% ~4.0x 22% ~1.8x Adj. EBITDA Margin PF Net Leverage Adj. EBITDA Margin PF Net Leverage Key Products Key Products Food and Beverage Food Cans Aerosols Dispensing Solutions Plastic Containers Flat Cap Closures Key Markets Key Markets Pet Food and Personal Healthcare Beauty and Home Care and Food Beverage Care and Pharma Personal Care Lawn and Garden Priorities Priorities Integrate | Optimize | Invest Innovate | Grow | Acquire 1 Assuming expected synergies of $225M by year 3 | Note: Adj. EBITDA excludes corporate costs of $52M; Silgan MCC and Silgan Dispensing Solutions Net Sales, Adj. EBITDA, and Adj. 12 ©2026 Silgan Holdings. All Rights Reserved. EBITDA margin are LTM 6/30/2026 amounts; Net leverage represents estimated PF figures as of 12/31/2025 based on closing net debt inclusive of $225M synergies expected by year 3; Refer to slides 31-33 for calculation of Adj. EBITDA for Silgan Dispensing Solutions and Silgan MCC; B=Billions; M=Millions
Silgan MCC A large-scale global business in metal packaging ©2026 Silgan Holdings. All Rights Reserved.
Silgan MCC Business Overview Existing Silgan Metal Containers Trivium and Closures Businesses Supplier of metal containers Supplier of metal containers, aerosol and flat cap metal and plastic closures cans, and aluminum beverage bottles for food and beverage markets across food and other consumer applications $4.2B $473M $3.1B $478M Net Sales Adj. EBITDA Net Sales Adj. EBITDA ~6K 55 ~7K 49 # of Employees # of Plants # of Employees # of Plants Net Sales By Product Net Sales By Geography Net Sales By Product Net Sales By Geography RoW <1% RoW 9% Closures Europe Aerosols North 16% 21% 20% America 28% North Cans Europe Cans America 79% 63% 80% 83% Note: Adj. EBITDA excludes corporate costs; Existing Silgan Metal Containers and Closures Businesses and Trivium Net Sales, Adj. EBITDA, and Adj. EBITDA margin are LTM 6/30/2026 13 ©2026 Silgan Holdings. All Rights Reserved. amounts; Trivium Aerosols represent Global Aerosols segment; Refer to slides 26 and 29 for reconciliations of non-GAAP financial amounts to GAAP financial amounts and calculation of Adj. EBITDA for Trivium and existing Silgan Metal Containers and Closures Businesses; B=Billions; M=Millions; K=Thousands
Hand-in-Glove Fit Select Offering (Geography) Silgan MCC Key Highlights ü Complementary offerings across core markets Pet and Human Food Cans (N. America) ü Meaningfully enhances European presence Pet and Human Food Cans (EMEA) ü Entry into attractive aerosol and aluminum beverage bottles markets - Metal and Plastic Closures (Global) ü Accelerates investment across U.S. and Europe - Aerosols (Global) Unlocks new - opportunities across Aluminum Beverage Bottles (Global) categories, regions, and end markets Current Silgan Offering Current Trivium Offering 14 ©2026 Silgan Holdings. All Rights Reserved.
Silgan MCC at-a-Glance Key Figures 1 1 $7.3B $1.2B 16% 12K+ 100+ Net Sales Adj. EBITDA Adj. EBITDA Margin Employees Plants Core Products Pet and Aluminum and Aluminum Food and Beverage Human Food Cans Steel Aerosol Cans Beverage Bottles Flat Cap Closures LTM Net Sales By Geography LTM Net Sales By Product RoW 4% Aerosols 9% Closures 12% Europe North 36% America Cans 60% 79% Select Demand Drivers Consumer Pet Food Sustainability Cost Affordability Market Growth Leadership Optimization 1 Assuming expected synergies of $225M in year 3 15 ©2026 Silgan Holdings. All Rights Reserved. Note: Adj. EBITDA excludes corporate costs; Silgan MCC Net Sales, Adj. EBITDA, Adj. EBITDA margin, and Net Sales By Product are LTM 6/30/2026 amounts; Refer to slide 33 for calculation of Adj. EBITDA for Silgan MCC; B=Billions; M=Millions; K=Thousands
Global Presence to Support Customers and Consumers LTM Net Sales by Geography Extensive Manufacturing Base RoW 4% Europe North 36% America 100+ 12K+ 27B+ 30B+ 60% Plants Employees Cans Closures Metal Containers and Food Silgan Trivium and Beverage Flat Cap Closures Americas Can Plants 24 Americas Closure Plants 8 EMEA Can Plants 13 EMEA Closure Plants 10 Dedicated Aerosol Americas Can Plants 3 5 Plants in South America Americas Aerosol Plants 4 EMEA Can Plants 35 Expanded U.S. and European footprint, EMEA Aerosol Plants 5 lowering cost-to-serve for price-sensitive customers 16 ©2026 Silgan Holdings. All Rights Reserved. Note: Silgan MCC Net Sales by Geography are LTM 6/30/2026 amounts; B=Billions; K=Thousands
Silgan MCC Priorities Execute on the Synergy Opportunity Capture cost and productivity benefits of the combined platform Build the Best-in-class Global Platform Leverage strengths of the two businesses to advance innovation and commercial and operational excellence Capitalize on Growth Markets Capture growth in pet food and aerosol markets Prepare for Separation Shared commitment to move at an accelerated pace and create timing optionality 17 ©2026 Silgan Holdings. All Rights Reserved.
Silgan Dispensing Solutions A focused, high-value specialty packaging company ©2026 Silgan Holdings. All Rights Reserved.
Silgan Dispensing Solutions at-a-Glance Key Figures $2.5B $555M 22% 11K+ 66 Net Sales Adj. EBITDA Adj. EBITDA Margin Employees Plants Core Products Fragrance and Beauty Healthcare/ Dispensing Trigger Plastic Dispensers Drug Delivery Pumps Sprayers Containers LTM Net Sales By Geography LTM Net Sales By Product RoW Custom 16% Cont. North 25% America Europe Dispensing 50% 34% 75% Select Demand Drivers Healthcare Customer Innovation M&A Expansion Collaboration Note: Adj. EBITDA excludes corporate costs; Silgan Dispensing Solutions Net Sales, Adj. EBITDA, and Adj. EBITDA margin are LTM 6/30/2026 amounts; Refer to slide 31 for calculation 18 ©2026 Silgan Holdings. All Rights Reserved. of Adj. EBITDA for Silgan Dispensing Solutions; B=Billions; M=Millions; K=Thousands
Adj. EBITDA Margin (%) Revenue ($ in millions) A Platform Poised for Growth Positioning Focus on Dispensing Solutions Driving Results Significant Investment in Dispensing Solutions… • Differentiated Dispensing Solutions platform driving $5,000 $2,000 organic growth and Dispensing $4,000 $1,500 continued wins with $3,000 global accounts Dispensing and $1,000 Specialty Closures $2,000 $500 $1,000 – Mission-critical $0 $0 functionality for high 2017 2018 2019 2020 2021 2022 2023 2024 2025 value products and customers Cumulative Acquisitions Cumulative Capex Annual Revenue – Customer intimacy/partnership …Driving Long-Term Dispensing Solutions Adj. EBITDA and Margin Growth – Leading innovation $600 22% capabilities $500 20% $400 – Culture of operational $300 18% excellence and $200 16% $100 commercial discipline $0 14% 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 • Additional upside Adjusted EBITDA Adjusted EBITDA Margin opportunity through targeted investments Note: Adj. EBITDA excludes corporate costs; Refer to slide 32 for reconciliations of non-GAAP financial amounts to GAAP financial amounts and calculation of Adj. EBITDA and Adj. 19 ©2026 Silgan Holdings. All Rights Reserved. EBITDA margin for Silgan Dispensing Solutions Capital Invested ($ in millions) Adj. Segment EBITDA ($ in millions)
Robust Organic Growth Opportunities Fragrance, Beauty Home Care and Healthcare and Pharma and Personal Care Lawn and Garden Market High-Single-Digit Mid-Single-Digit Low-Single-Digit Growth Potential Select Rising healthcare spend, Product innovation Durability, DIY, expanding drug delivery and brand differentiation sustainability/multi-use Growth Drivers routes Value ▪ Precision dosing and drug ▪ Product differentiation and ▪ Consumer convenience Proposition delivery premiumization ▪ Functionality and ergonomics ▪ Clean-room manufacturing▪ Customized dispensing formats ▪ Durable, multi-use dispensing ▪ High-performing specialty ▪ Critical product functionality systems dispensing solutions 20 ©2026 Silgan Holdings. All Rights Reserved. Note: Market growth rates per management estimates
Positioned to Accelerate Capital Deployment Proven Capital Allocator Enhanced Financial Flexibility ▪ Core competency in M&A 3.4x ▪ Disciplined, returns-based approach ▪ Deep, proprietary relationships ~1.8x ▪ Proven approach to talent retention and investment Silgan 12/31/2025 Pro Forma Silgan Net Leverage Dispensing Solutions 12/31/2025 Net Leverage $4B+ Investment Priorities Capital Deployed Since 2017 Fragrance & Beauty Drug Delivery Healthcare Dispensing 2017 2020 2021 2024 Specialty Premium drug Healthcare and dispensing delivery dispensing pharmaceutical technologies solutions packaging Dispensing and Specialty Closures Note: Includes select acquisitions; not intended to be exhaustive; Adj. EBITDA excludes corporate costs; Refer to slides 28 and 32 for calculation of Adj. EBITDA for Silgan and 21 ©2026 Silgan Holdings. All Rights Reserved. reconciliations of non-GAAP financial amounts to GAAP financial amounts and calculation of Adj. EBITDA for Silgan Dispensing Solutions; B=Billions
Silgan Dispensing Solutions Priorities Accelerate Organic Growth Capture favorable long-term trends across high-value markets Strengthen Differentiated Capabilities Continue investing in innovation, product development, technical talent, and manufacturing excellence Expand Customer Partnerships Leverage best-in-class customer service and global capabilities to support brand owner growth Extend the Value Creation Playbook Utilize increased financial flexibility to pursue disciplined, returns-based capital allocation opportunities 22 ©2026 Silgan Holdings. All Rights Reserved.
Closing One clear path forward, two differentiated businesses ©2026 Silgan Holdings. All Rights Reserved.
Enhancing Silgan’s Unique Business Model Pro Forma Total Silgan $9.8B 1 Net Sales Build and enhance Deploy strong Earnings growth business positions Free Cash Flow and value creation $1.7B ü Sustainable ü Growth ü Top tier 1,2 PF Adj. EBITDA competitive through earnings advantage targeted growth in acquisitions Packaging sector At least 15% ü Supply best value ü Other cash 2,3 in industry by deployment to ü Consistent Anticipated Adj. EPS Accretion focusing on drive long-term unique needs shareholder shareholder of customers value value creation At least 15% 2,3,4 Anticipated FCF Accretion 1 2 3 Represents LTM 6/30/2026 amounts | Assuming expected synergies of $225M by year 3 | Accretion/(dilution) presented on a cash basis, excluding purchase accounting 23 4 ©2026 Silgan Holdings. All Rights Reserved. Defined as Operating Cash Flow – CapEx; accretion excludes one-time costs to achieve synergies Note: Adj. EBITDA includes corporate costs; Refer to slide 34 for calculation of Adj. EBITDA for Pro Forma Silgan; B=Billions; M=Millions
Summary ▪ Combining Silgan Metal Containers segment and Food and Beverage Flat Cap Closures business with Trivium, via 60%-owned partnership, enabling meaningful synergies Announcement Overview ▪ Positioning Silgan Dispensing Solutions for priority growth and investment opportunities ▪ Formation of Silgan MCC creates a best-in-class, global platform and provides for $225M of expected synergies Strategic Rationale ▪ Funding approach will increase investment capacity for our faster-growing dispensing business, providing multiple pathways to accelerate shareholder value creation 1 ▪ Silgan to receive $2.3B of cash proceeds and continued majority ownership of Silgan Key Terms MCC; retain 100% ownership of Silgan Dispensing Solutions ▪ Delivers immediate value, while preserving majority ownership, operational control, Partnership Structure and future upside participation Benefits ▪ Close the transaction, deliver synergies, strengthen both businesses, and position Next Steps Silgan MCC for a future separation at the optimal point in time 1 Subject to customary adjustments for cash, assumed debt, and net working capital at closing 24 ©2026 Silgan Holdings. All Rights Reserved. Note: B=Billions
Appendix A: Additional Detail ©2026 Silgan Holdings. All Rights Reserved.
Appendix Select Transaction Details Pre-synergy EV/Adj. EBITDA Multiple Post-synergy EV/Adj. EBITDA Multiple Median Purchase Price Multiple Reduction via Synergies: ~2x 1.9x 2.4x 13.0x 2.3x 1.3x 11.7x 11.1x 1.5x 10.5x 10.0x 9.3x 8.7x 8.7x 8.2x 7.2x WestRock Dispensing Albéa Dispensing Gateway Unicep Weener 2017 2020 2021 2021 2024 25 ©2026 Silgan Holdings. All Rights Reserved. Note: Gateway and Unicep post-synergy multiples include impact of certain tax benefits
Appendix B: Reconciliation of Non-GAAP Financial Measures ©2026 Silgan Holdings. All Rights Reserved.
Appendix Trivium Packaging B.V. Reconciliation of Income before interest and income taxes (EBIT) to Adjusted EBIT and Adjusted EBITDA ($ in millions) Year Ended LTM Ended December 31, 2025 June 30, 2026 Trivium Packaging B.V. Net Sales $ 3,013.6 $ 3,080.9 Income before interest and income taxes (EBIT) $ 270.3 $ 177.3 Plus: Acquired intangible asset amortization expense 168.5 170.5 Other pension (income) expense (9.5) (9.8) Rationalization charges 24.4 32.3 Non-operating FX impact related tax structuring activities (92.7) 9.7 Adjusted EBIT $ 361.0 $ 380.0 Depreciation 99.0 98.3 Adjusted EBITDA $ 460.0 $ 478.3 Margin 16% 26 ©2026 Silgan Holdings. All Rights Reserved. Note: Income before interest and income taxes for Trivium includes certain adjustments to convert IFRS accounting to U.S. GAAP accounting
Appendix Silgan Holdings Inc. Reconciliation of Income before interest and income taxes (EBIT) to Adjusted EBIT and Adjusted EBITDA ($ in millions) Year Ended Six Months Ended LTM Ended December 31, 2025 June 30, 2025 June 30, 2026 June 30, 2026 Dispensing and Specialty Closures: Net sales $ 2,707.3 $ 1,373.3 $ 1,399.2 $ 2,733.2 Income before interest and income taxes (EBIT) $ 321.5 $ 169.7 $ 162.8 $ 314. 6 Plus: Acquired intangible asset amortization expense 58.7 28.4 29.6 59.9 Other pension (income) expense for U.S. pension plans and closed facilities (0.8) (0.3) 0.6 0.1 Equity in earnings of affiliates, net of tax 3 .2 1.7 2.2 3.7 Rationalization charges 37.4 7.6 8.5 38.3 Adjusted EBIT $ 420.0 $ 207.1 $ 203.7 $ 416. 6 Plus: Depreciation 147.3 73.5 79.9 153.7 Adjusted EBITDA $ 567. 3 $ 280.6 $ 283.6 $ 570.3 Margin 21% Metal Containers: Net sales $ 3,138.3 $ 1,304.5 $ 1,488.8 $ 3,322.6 Income before interest and income taxes (EBIT) $ 243.4 $ 110.5 $ 100.4 $ 233. 3 Plus: Acquired intangible asset amortization expense 1 .4 0.7 0.7 1.4 Other pension (income) expense for U.S. pension plans and closed facilities (1.8) (1.0) (2.6) (3.4) Rationalization charges 17.4 10.1 17.2 24.5 Adjusted EBIT $ 260.4 $ 120.3 $ 115.7 $ 255. 8 Plus: Depreciation 72.7 32.9 40.3 80.1 Adjusted EBITDA $ 333. 1 $ 153.2 $ 156.0 $ 335.9 Margin 10% 27 ©2026 Silgan Holdings. All Rights Reserved.
Appendix Silgan Holdings Inc. Reconciliation of Income before interest and income taxes (EBIT) to Adjusted EBIT and Adjusted EBITDA ($ in millions) Year Ended Six Months Ended LTM Ended December 31, 2025 June 30, 2025 June 30, 2026 June 30, 2026 Custom Containers: Net sales $ 637.6 $ 328.0 $ 316.5 $ 626. 1 Income before interest and income taxes (EBIT) $ 81.1 $ 44. 7 $ 45. 5 $ 81.9 Plus: Acquired intangible asset amortization expense 4 .5 2.2 1.9 4.2 Other pension (income) expense for U.S. pension plans and closed facilities (1.4) (0.5) - (0.9) Rationalization charges 5 .7 3.1 1.5 4.1 Adjusted EBIT $ 89.9 $ 49. 5 $ 48. 9 $ 89.3 Plus: Depreciation 34.1 17.4 16.1 32.8 Adjusted EBITDA $ 124. 0 $ 66.9 $ 65.0 $ 122.1 Margin 20% Corporate: (Loss) before interest and income taxes (EBIT) $ (48.1) $ (26.8) $ (31.1) $ (52.4) Plus: Costs attributed to announced acquisitions 1 .1 1.1 - - Adjusted EBIT $ (47.0) $ (25.7) $ (31.1) $ (52.4) Plus: Depreciation 0 .4 0.2 0.2 0.4 Adjusted EBITDA $ (46.6) $ (25.5) $ (30.9) $ (52.0) Total Net Sales $ 6,483.2 $ 3,005.8 $ 3,204.5 $ 6,681.9 Total Adjusted EBIT 723.3 351. 2 337. 2 709.3 Total Depreciation 254.5 124. 0 136. 5 267.0 Total Adjusted EBITDA $ 977.8 $ 475.2 $ 473.7 $ 976. 3 Margin 15% 28 ©2026 Silgan Holdings. All Rights Reserved.
Appendix Silgan Holdings Inc. Reconciliation of Income before interest and income taxes (EBIT) to Adjusted EBIT and Adjusted EBITDA ($ in millions) Year Ended Six Months Ended LTM Ended December 31, 2025 June 30, 2025 June 30, 2026 June 30, 2026 Silgan MCC Closures: Net sales $ 848.9 $ 429.4 $ 441.2 $ 860. 7 Income before interest and income taxes (EBIT) $ 59.9 $ 40. 1 $ 38. 9 $ 58.7 Plus: Acquired intangible asset amortization expense 4 .8 2.4 2.3 4.7 Other pension (income) expense for U.S. pension plans and closed facilities (0.8) (0.3) 0.6 0.1 Rationalization charges 34.1 6.0 8.4 36.5 Adjusted EBIT $ 98.0 $ 48. 2 $ 50. 2 $ 100. 0 Plus: Depreciation 35.3 17.0 19.0 37.3 Adjusted EBITDA $ 133. 3 $ 65.2 $ 69.2 $ 137.3 Margin 16% Existing Silgan Metal Containers and Closures Businesses Total: Net sales $ 3,987.2 $ 1,733.9 $ 1,930.0 $ 4,183.3 Income before interest and income taxes (EBIT) $ 303.3 $ 150.6 $ 139.3 $ 292. 0 Plus: Acquired intangible asset amortization expense 6 .2 3.1 3.0 6.1 Other pension (income) expense for U.S. pension plans and closed facilities (2.6) (1.3) (2.0) (3.3) Rationalization charges 51.5 16.1 25.6 61.0 Adjusted EBIT $ 358.4 $ 168.5 $ 165.9 $ 355. 8 Plus: Depreciation 108.0 49.9 59.3 117.4 Adjusted EBITDA $ 466. 4 $ 218.4 $ 225.2 $ 473.2 Margin 11% 29 ©2026 Silgan Holdings. All Rights Reserved.
Appendix Silgan Holdings Inc. Total Existing Silgan Metal Containers and Closures Businesses ($ in millions) LTM Ended June 30, 2026 Metal Silgan MCC Total Existing Silgan Metal Containers Closures Containers and Closures Businesses Net sales $ 3,322.6 $ 860. 7 $ 4,183.3 Adjusted EBITDA $ 335. 9 $ 137. 3 $ 473. 2 Margin 10% 16% 11% 30 ©2026 Silgan Holdings. All Rights Reserved. Note: Refer to slides 27 and 29 for reconciliations of non-GAAP financial amounts to GAAP financial amounts and calculation of Metal Containers and Silgan MCC Closures Adj. EBITDA
Appendix Silgan Holdings Inc. Total Silgan Dispensing Solutions ($ in millions) LTM Ended June 30, 2026 Dispensing Less Total Silgan & Specialty Custom Silgan MCC Dispensing Closures Containers Closures Solutions Net sales $ 2,733.2 $ 626. 1 $ (860.7) $ 2,498.6 Adjusted EBITDA $ 570. 3 $ 122. 1 $ (137.3) $ 555. 1 Margin 22% Note: Refer to slides 27-29 for reconciliations of non-GAAP financial amounts to GAAP financial amounts and calculation of Dispensing and Specialty Closures, Custom Containers and 31 ©2026 Silgan Holdings. All Rights Reserved. Silgan MCC Closures Adj. EBITDA
Appendix Silgan Holdings Inc. Reconciliation of Income before interest and income taxes (EBIT) to Adjusted EBIT and Adjusted EBITDA ($ in millions) Year Ended December 31, Six Months Ended LTM Ended 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 June 30, 2025 June 30, 2026 June 30, 2026 Dispensing and Specialty Closures: Net sales $ 805.0 $ 797.1 $ 1,246.7 $ 1,456.8 $ 1,405.6 $ 1,712.4 $ 2,160.5 $ 2,316.7 $ 2,221.4 $ 2,304.4 $ 2,707.3 $ 1,373.3 $ 1,399.2 $ 2,733.2 Income before interest and income taxes (EBIT) $ 91.8 $ 99.8 $ 142.0 $ 189.9 $ 173.5 $ 224.4 $ 262.1 $ 323.0 $ 281.0 $ 290.0 $ 321.5 $ 169.7 $ 162.8 $ 314. 6 Plus: Acquired intangible asset amortization expense 5.3 5.4 15. 7 19. 5 19. 1 28. 5 38. 3 46. 8 47. 2 46. 7 58. 7 28.4 29.6 59.9 Other pension (income) expense for U.S. pension plans and closed facilities (7.7) (6.1) (7.8) (9.2) (4.2) (9.6) (12.6) (11.0) 1.1 (1.0) (0.8) (0.3) 0.6 0.1 Equity in earnings of affiliates, net of tax - - - - - - - - - 0.7 3.2 1.7 2.2 3.7 Rationalization charges 1.7 0.6 1.0 0.2 6.6 5.8 5.8 0.9 11. 3 23. 1 37. 4 7.6 8.5 38.3 Purchase accounting write-up of inventory - - 11. 9 - - 3.5 1.6 - - 6.1 - - - - Adjusted EBIT $ 91.1 $ 99.7 $ 162.8 $ 200.4 $ 195.0 $ 252.6 $ 295.2 $ 359.7 $ 340.6 $ 365.6 $ 420.0 $ 207.1 $ 203.7 $ 416. 6 Plus: Depreciation 32. 4 32. 8 46. 0 54. 7 64. 0 70. 6 87. 4 98. 2 101.7 110.0 147.3 73.5 79.9 153.7 Adjusted EBITDA $ 123.5 $ 132.5 $ 208.8 $ 255.1 $ 259.0 $ 323.2 $ 382.6 $ 457.9 $ 442.3 $ 475.6 $ 567.3 $ 280.6 $ 283.6 $ 570.3 Margin 15% 17% 17% 18% 18% 19% 18% 20% 20% 21% 21% 21% Custom Containers: Net sales $ 593.7 $ 543.9 $ 565.1 $ 614.1 $ 611.1 $ 651.5 $ 708.6 $ 723.0 $ 626.0 $ 649.6 $ 637.6 $ 328.0 $ 316.5 $ 626. 1 Income before interest and income taxes (EBIT) $ 7 .8 $ 5 .2 $ 27.8 $ 42.6 $ 48.9 $ 87.8 $ 92.4 $ 92.5 $ 52.8 $ 55.4 $ 81.1 $ 44. 7 $ 45. 5 $ 81.9 Plus: Acquired intangible asset amortization expense 5.9 5.9 5.9 5.9 5.9 5.4 4.6 4.5 4.5 4.5 4.5 2.2 1.9 4.2 Other pension (income) expense for U.S. pension plans and closed facilities (6.2) (5.2) (7.2) (8.3) (3.2) (8.4) (10.8) (10.2) 1.0 (0.9) (1.4) (0.5) - (0.9) Rationalization charges 12. 7 6.4 1.5 0.8 0.4 0.4 0.3 - 5.0 22. 0 5.7 3.1 1.5 4.1 Adjusted EBIT $ 20.2 $ 12.3 $ 28.0 $ 41.0 $ 52.0 $ 85.2 $ 86.5 $ 86.8 $ 63.3 $ 81.0 $ 89.9 $ 49. 5 $ 48. 9 $ 89.3 Plus: Depreciation 27. 7 26. 1 28. 7 30. 0 31. 2 32. 0 34. 5 35. 3 34. 7 35. 8 34. 1 17.4 16.1 32.8 Adjusted EBITDA $ 47.9 $ 38.4 $ 56.7 $ 71.0 $ 83.2 $ 117.2 $ 121.0 $ 122.1 $ 98.0 $ 116.8 $ 124.0 $ 66.9 $ 65.0 $ 122.1 Margin 8% 7% 10% 12% 14% 18% 17% 17% 16% 18% 19% 20% Silgan MCC Closures: Net sales $ 805.0 $ 797.1 $ 801.1 $ 819.6 $ 779.5 $ 802.5 $ 932.6 $ 1,009.7 $ 925.2 $ 885.2 $ 848.9 $ 429.4 $ 441.2 $ 860. 7 Income before interest and income taxes (EBIT) $ 91.8 $ 99.8 $ 94.8 $ 97.3 $ 82.3 $ 101.9 $ 111.1 $ 142.9 $ 92.4 $ 102.2 $ 59.9 $ 40. 1 $ 38. 9 $ 58.7 Plus: Acquired intangible asset amortization expense 5.3 5.4 5.4 5.4 5.3 5.2 5.2 5.2 5.2 5.1 4.8 2.4 2.3 4.7 Other pension (income) expense for U.S. pension plans and closed facilities (7.7) (6.1) (7.8) (9.1) (4.1) (9.5) (12.4) (10.9) 1.2 (0.9) (0.8) (0.3) 0.6 0.1 Rationalization charges 1.7 0.6 0.4 0.2 6.6 1.4 4.7 0.5 5.6 10. 0 34. 1 6.0 8.4 36.5 Adjusted EBIT $ 91.1 $ 99.7 $ 92.8 $ 93.8 $ 90.1 $ 99.0 $ 108.6 $ 137.7 $ 104.4 $ 116.4 $ 98.0 $ 48. 2 $ 50. 2 $ 100. 0 Plus: Depreciation 32. 4 32. 8 30. 7 29. 9 34. 5 31. 0 32. 3 32. 1 32. 7 34. 2 35. 3 17.0 19.0 37.3 Adjusted EBITDA $ 123.5 $ 132.5 $ 123.5 $ 123.7 $ 124.6 $ 130.0 $ 140.9 $ 169.8 $ 137.1 $ 150.6 $ 133.3 $ 65.2 $ 69.2 $ 137.3 Margin 15% 17% 15% 15% 16% 16% 15% 17% 15% 17% 16% 16% Total Silgan Dispensing Solutions: Net sales: Dispensing and Specialty Closures $ 805.0 $ 797.1 $ 1,246.7 $ 1,456.8 $ 1,405.6 $ 1,712.4 $ 2,160.5 $ 2,316.7 $ 2,221.4 $ 2,304.4 $ 2,707.3 $ 1,373.3 $ 1,399.2 $ 2,733.2 Custom Containers 593.7 543.9 565.1 614.1 611.1 651.5 708.6 723.0 626.0 649.6 637.6 328. 0 316. 5 626.1 Less Silgan MCC Closures (805.0) (797.1) (801.1) (819.6) (779.5) (802.5) (932.6) ( 1,009.7) (925.2) (885.2) (848.9) (429.4) (441.2) (860.7) Total Net Sales $ 593.7 $ 543.9 $ 1,010.7 $ 1,251.3 $ 1,237.2 $ 1,561.4 $ 1,936.5 $ 2,030.0 $ 1,922.2 $ 2,068.8 $ 2,496.0 $ 1,271.9 $ 1,274.5 $ 2,498.6 Adjusted EBITDA: Dispensing and Specialty Closures $ 123.5 $ 132.5 $ 208.8 $ 255.1 $ 259.0 $ 323.2 $ 382.6 $ 457.9 $ 442.3 $ 475.6 $ 567.3 $ 280.6 $ 283.6 $ 570. 3 Custom Containers 47. 9 38. 4 56. 7 71. 0 83. 2 117.2 121.0 122.1 98. 0 116.8 124.0 66.9 65.0 122.1 Less Silgan MCC Closures (123.5) (132.5) (123.5) (123.7) (124.6) (130.0) (140.9) (169.8) (137.1) (150.6) (133.3) (65.2) (69.2) (137.3) Total Adjusted EBITDA $ 47.9 $ 38.4 $ 142.0 $ 202.4 $ 217.6 $ 310.4 $ 362.7 $ 410.2 $ 403.2 $ 441.8 $ 558.0 $ 282.3 $ 279.4 $ 555. 1 Margin 8% 7% 14% 16% 18% 20% 19% 20% 21% 21% 22% 22% 32 ©2026 Silgan Holdings. All Rights Reserved.
Appendix Silgan Holdings Inc. Total Silgan MCC ($ in millions) LTM Ended June 30, 2026 Total Existing Silgan Metal Containers and Closures Total 1 Businesses Synergies Silgan MCC Trivium Net sales $ 4,183.3 $ 3,080.9 $ - $ 7,264.2 Adjusted EBITDA $ 473. 2 $ 478. 3 $ 225. 0 $ 1,176.5 Margin 11% 16% 16% 1 Expected Synergies from the proposed acquisition 33 ©2026 Silgan Holdings. All Rights Reserved. Note: Refer to slide 26 for calculation of Adj. EBITDA for Trivium; Refer to slide 29 for reconciliation of non-GAAP financial amounts to GAAP financial amounts and calculation of Adj. EBITDA for existing Silgan Metal Containers and Closures Businesses
Appendix Silgan Holdings Inc. Total Silgan Pro Forma ($ in millions) LTM Ended June 30, 2026 Silgan Dispensing Silgan Total Solutions MCC PF Corporate Silgan PF Net sales $ 2,498.6 $ 7,264.2 $ - $ 9,762.8 Adjusted EBITDA $ 555. 1 $ 1,176.5 $ ( 52.0) $ 1,679.6 Margin 22% 16% 17% Note: Refer to slide 28 for reconciliations of non-GAAP financial amounts to GAAP financial amounts and calculation of Corporate Adj. EBITDA; Refer to slides 31 and 33 for the 34 ©2026 Silgan Holdings. All Rights Reserved. calculation of Adj. EBITDA for Silgan Dispensing Solutions and Silgan MCC
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