Sonoco Products Co

Balance Sheet and Cash Flow Highlights Cash and cash equivalents, including discontinued operations, were $245 million as of September 28, 2025, compared to $443 million as of December 31, 2024, with the decrease primarily related to changes in net working capital and net debt reduction.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Total debt, including discontinued operations, and net debt were $5.2 billion and $4.9 billion, respectively, as of September 28, 2025, reflecting decreases of $1.9 billion and $1.7 billion, respectively, compared to December 31, 2024, primarily related to the repayment of the outstanding $1.5 billion principal amount of borrowings under the Company s 364-day term loan facility in 2025 using proceeds from the sale of TFP.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

On September 28, 2025, the Company had available liquidity of $1,405 million, comprising available borrowing capacity under its revolving credit facility of $1,160 million and cash on hand.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Capital expenditures, net of proceeds from sales of fixed assets, for the first nine months of 2025 were $248 million, compared to $267 million for the same period last year.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Dividends paid during the nine months ended September 28, 2025 increased to $156 million compared to $152 million in the same period of the prior year.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Accordingly, quantitative reconciliations of Adjusted EPS and Adjusted EBITDA guidance and net debt Adjusted EBITDA targets to the nearest comparable GAAP measures have been omitted in reliance on the exception provided by Item 10 of Regulation S-K.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

GAAP operating profit for the third quarter increased to $195 million due to operating profit from our Metal Packaging EMEA business following the acquisition of Eviosys, a positive price cost environment, solid productivity from certain procurement savings, production efficiencies, and fixed cost reduction initiatives, and the absence of losses on the sale of two production facilities in China.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

-more- Sonoco Reports Third Quarter 2025 Results - Page 3 I m incredibly proud of our team s strong operating performance in the third quarter as we achieved record top-line and bottom-line performance along with margin expansion despite challenging market conditions and higher than expected interest costs, said Howard Coker, President and Chief Executive Officer.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Segment operating profit margin increased to 15% and adjusted EBITDA margin increased to 21% due to price recovery and productivity from certain procurement savings, production efficiencies, and fixed cost reduction initiatives, which were only partially offset by lower volume mix.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Operating profit and adjusted EBITDA improved 5% and 2%, respectively, year over year as solid productivity from certain procurement savings, production efficiencies, and fixed cost reduction initiatives offset lower volumes from industrial plastics and negative price cost.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Coker concluded, Looking ahead at the remainder of the year, our top priorities are to continue building momentum for growth and improving our competitive position by further reducing our cost structure.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Additionally, sales benefited from price increases implemented to offset the effects of inflation and tariffs and from the favorable impact of foreign exchange rates.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

Although the Company believes the assumptions reflected in the range of guidance are reasonable, given the uncertainty regarding the future performance of the overall economy, the effects of tariffs, trade policy and inflation, the challenges in global supply chains, potential changes in raw material prices, other costs, and the Company s effective tax rate, as well as other risks and uncertainties, including those described below, actual results could vary substantially.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025

In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur.

SEC original ↗Sonoco Products Co — Earnings release (8-K exhibit)EX-99Oct 22, 2025