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verallia PRESS RELEASE 2020 Annual Results The Group has shown significant resilience to the pandemic : Slight decrease in revenue of -1.9 % Growth in adjusted EBITDA to € 626 million ( + 1.7 % ) and in the adjusted EBITDA margin to 24.7 % ( +88 bps ) Paris , 24 February 2021 Highlights ▪ Slight decrease in revenue of -1.9 % to € 2,536 million in 2020 ( + 2.1 % at constant exchange rates and scope ) ( ¹ ) compared to 2019 ▪ Adjusted EBITDA of € 626 million ( + 1.7 % compared to 2019 and + 7.6 % at constant exchange rates and scope ) Adjusted EBITDA margin at 24.7 % compared to 23.8 % in 2019 ▪ Net income at € 210 million compared to € 125 million in 2019 and earnings per share ( ² ) of € 1.67 Reduction in net debt to € 1,279 million at the end of 2020 , i.e. 2.0x adjusted EBITDA vs. 2.6x at the end of 2019 ▪ Proposal to pay a dividend per share of € 0.95 ( 3 ) Reasonable confidence in achieving as of 2021 the 2022 ( mid - term ) objectives , which were reaffirmed in July 2020 , together with the deployment of the ESG roadmap ( 1 ) Growth in revenue at constant exchange rates and scope excluding Argentina of + 0.8 % in 2020 compared to 2019 . ( 2 ) 2020 EPS comprises the amortisation expense of the customer relationships , booked at the time of the acquisition of the glass packaging division of Saint - Gobain in 2015 , for € 0.37 ( amount net of tax ) . This charge amounted to € 0.36 in 2019 . ( 3 ) Subject to the approval of the Annual General Shareholders ' Meeting which will take place on 15 June 2021 . " Verallia has demonstrated a remarkable resilience to this unprecedented global crisis . Our priority has been to protect the health and safety of our teams , who have shown exceptional commitment . The Group's agility has enabled it to report positive organic growth this year , by quickly adapting to the ever - changing demands of its customers , who play an essential role throughout the food industry supply chain . Adjusted EBITDA increased both in value and percentage , thanks to a high discipline in managing costs , industrial efficiency and a positive inflation spread . In a context that remains uncertain , Verallia is in an excellent position to implement its ESG strategy and meet as of 2021 its mid term objectives , as confirmed in July 2020. " , commented Michel Giannuzzi , Chairman and CEO of Verallia . 1