Slides
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1 11 Wichan Jitpukdee CEO 27th October 2026 Q3/2026 Performance Danaidej Ketsuwan CFO Analyst Conference
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2 I. Business Highlights II. Business Segment & Financial Review III. Business Update IV. Outlook & Key T akeaways Agenda
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3 Business Highlights I.
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of this line 4 12,643 15,819 -2,000 3,000 8,000 13,000 18,000 23,000 28,000 33,000 38,000 9M/2025 9M/2026 2,863 5,896 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 9M/2025 9M/2026 94,204 94,326 0 20,000 40,000 60,000 80,000 100,000 9M/2025 9M/2026 EBITDA 2 REVENUE FROM SALES Flat YoY 106% YoY25% YoY NET PROFIT 12,688 15,72582% 78% 2,907 5,822 Consolidated key financials: 9M/20261 Key performances Unit: MB • Top line held steady YoY , primarily due to pricing alignment to reflect higher input costs, along with resilient ASEAN domestic consumption • Cost of goods sold improved through cost optimization initiatives • EBITDA & net profit increased, mainly from continued improvement in ID operations, while margins expanded on ongoing cost savings Margin expanded, underpinned by packaging paper business in ID as a key contributor, together with cost optimization Core EBITDA3 %COGS On Sales Core Profit4 Note: 1. Figures are “After inter-segment elimination” 2. EBITDA includes dividend from associates 3. Core EBITDA (Adjusted cash EBITDA) = EBITDA – key items adjustments 4. Core Profit (Adjusted profit) = Net Profit – Key items adjustments after tax & after NCI 17%13% 3% 6% % Margin
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of this line 5 1,573 1,547 9M/2025 9M/2026 19,314 19,181 9M/2025 9M/2026 71,581 73,525 9M/2025 9M/2026 11,142 14,231 9M/2025 9M/2026 EBITDA2REVENUE FROM SALES EBITDA2REVENUE FROM SALES 3% YoY 28% YoY 1% YoY Unit: MB Key performances INTEGRATED PACKAGING BUSINESS FIBROUS BUSINESS 16% 19% % Margin 8% % Margin8% • IPB: EBITDA and margin increased YoY , attributed to ID performance and improved selling prices, with further support from cost optimization • FB: EBITDA slightly declined YoY on softer selling price despite higher sales volume, while margin held steady mainly on enhanced operational efficiency Note: 1. Figures are “Before inter-segment elimination” 2. EBITDA includes dividend from associates SCGP’s business segments: 9M/20261 IPB: Profitability up on ID performance; FB: Margin stable on efficiency gains despite softer pricing 2% YoY
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of this line 6 16% 16% 2% 1%1% 6% 14% 44% REVENUE FROM SALES BY END DESTINATIONS * 14% 14% 3% 1% 2% 6% 16% 44% TH ID VN PH Others in ASEAN EU & UK MY ROW2 (US = 4%, India = 3%, CN = 3%, Others = 4%)3 25% 12% 2% 5%3%11% 5% 37% SCGP Business Portfolio: 9M/20261 REVENUE FROM SALES BY BUSINESS UNITS* Consumer packaging portion increased to 48%, supported by ASEAN domestic demand, especially in fiber packaging Revenue contribution from ID and VN increased, while export portion to CN decreased, reflecting our strategic focus on ASEAN markets Healthcare supplies 2% Foodservice packaging 5% Copy paper 3% Recycling Business 4% Integrated Packaging Business 77% 9M/2026 vs 9M/2025 9M/2026 vs 9M/2025 *Note: Outer pie chart: 9M/2026 (Revenue 94,326 MB) Inner pie chart: 9M/2025 (Revenue 94,204 MB) Fiber packaging 26% Polymer packaging 12% Note: 1. Figures are “After inter-segment elimination” 2. ROW is Rest of the world 3. 9M/2025: CN = 4%, US = 4%, India = 3%, Others = 4% Fiber packaging and regional domestic consumption drive portfolio expansion
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of this line 7 Business Segment & Financial Review II.
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of this line 8 Stable frozen and processed food exports with pre-festive inventory buildup in late Q3 Softer demand for agricultural products on rainy season, and for alcohol beverages during Buddhist Lent in TH Country QoQ YoY Demand movement: Q3/2026 Fiber and Polymer Packaging Foodservice Packaging Packaging Paper Pulp Favorable demand from summer outdoor activities in EU, QSR1 promotional campaigns, and inventory stocking ahead of festive celebrations Modest demand in TH, affected by lower tourism activity Continued high dissolving pulp price, in line with growth in textile and garment demand Resilient domestic demand in VN & ID, while TH slowed seasonally Increased China containerboard imports QoQ, driven by export growth and improving regional prices Improved garment and footwear demand, benefiting from new collection launches Elevated household debt continued to weigh on spending, particularly on home appliances Note: 1. Quick Service Restaurant (QSR) Consumer staples Consumer discretionary (=) (+) (+) (-) (+)(=) (+) Resilient packaging demand on ASEAN domestic consumption, export growth, and festive stocking, with softness in certain segments (-) (-)
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9 953 2,304 2,026 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Q3/2025 Q2/2026 Q3/2026 30,438 32,454 32,577 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 Q3/2025 Q2/2026 Q3/2026 4,154 5,821 5,357 0 2,000 4,000 6,000 8,000 10,000 Q3/2025 Q2/2026 Q3/2026 EBITDA 2 REVENUE FROM SALES 7% YoY 8% QoQ 113% YoY29% YoY 12% QoQFlat QoQ NET PROFIT Core EBITDA3 4,210 5,856 5,253%COGS 82% 76% 79% ON SALES Core Profit4 998 2,335 1,945 Consolidated key financials: Q3/20261 • YoY revenue increased across all business units, reflecting packaging paper price alignment in ID with regional market levelsand resilient consumer products demand, despite higher costs. QoQ revenue remained stable • YoY EBITDA and profit improved in line with revenue growth and continued profitability of ID packaging paper operation, whileQoQ declined amidst higher raw material and energy costs Key performances Unit: MB 18%14% 16% % Margin3% 7% 6% 3. Core EBITDA (Adjusted cash EBITDA) = EBITDA – key items adjustments 4. Core profit (Adjusted profit) = Net profit – key items adjustments after tax & after NCI Note: 1. Figures are “After inter-segment elimination” 2. EBITDA includes dividend from associates YoY performance improved, while QoQ earnings pressured by input costs
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10 Note: 1. Revenue figures are “Before inter-segment elimination” 2. ROW is Rest of the world 3. EBITDA includes dividend from associates EBITDA: YoY improved, primarily attributed to packaging paper operation in ID and continued growth across businesses in VN • QoQ EBITDA decreased from higher input costs amidst persistent geopolitical uncertainties Revenue: YoY rose as higher raw material costs necessitated selling price adjustments across all product categories Polymer packaging • QoQ revenue maintained on resilient demand, especially in VN operations • Medical supplies and labware demand softened due to production slowdown during EU summer holiday Fiber packaging • QoQ revenue was flat, underpinned by resilient FMCG demand in VN & ID, which offset softer demand in TH for agricultural products, alcoholic beverages and durable goods Packaging paper • QoQ revenue remained stable. Average selling prices improved in line with costs, led by ID operations, while demand slightly softened amidst low season REVENUE BY END DESTINATIONS1 3,811 5,188 4,680 Q3/2025 Q2/2026 Q3/2026 Thailand ASEAN (Ex-Thai) Export (ROW2) 16% % Margin20% 18% 8% YoY Flat QoQ 23% YoY 10% QoQ 49% 48% 44% 41% 43% 46% 10% 9% 10%23,424 25,387 25,323 Q3/2025 Q2/2026 Q3/2026 Unit: MB EBITDA3 Integrated packaging business YoY performance improved mainly on Fajar’s operations and solid growth in VN, while QoQ margin pressured by higher costs Sales vol YoY IPB CPP Health CIP PP Price IPB CPP Health CIP PP Rev IPB CPP Health CIP PP
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of this line 11 Revenue: YoY increased, primarily due to pulp price improvement and higher foodservice packaging volume Foodservice packaging • QoQ revenue up on summer-related demand in EU, promotional campaigns and inventory build-up ahead of year-end festivities Fine & specialty paper • QoQ revenue decreased on seasonal demand slowdown for fine paper, while increased competition for India’s specialty paper market Pulp • QoQ revenue up, supported by solid demand from textile and garment sector and higher dissolving pulp market prices EBITDA: YoY increased in line with stronger revenue and favorable pulp market trends • QoQ EBITDA gradually increased, mainly attributed to improved selling prices, particularly for dissolving pulp Note: 1. Revenue figures are “Before inter-segment elimination” 2. ROW is Rest of the world 3. EBITDA includes dividend from associates 38% 36% 33% 11% 14% 14% 51% 50% 53% 6,027 6,548 6,676 Q3/2025 Q2/2026 Q3/2026 392 619 636 Q3/2025 Q2/2026 Q3/2026 % Margin9% 10%7% Thailand ASEAN (Ex-Thai) Export (ROW2) 62% YoY 3% QoQ REVENUE BY END DESTINATIONS1 EBITDA3 11% YoY 2% QoQ Unit: MB Fibrous business YoY and QoQ performance improved on favorable dissolving pulp market conditions
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12 52,594 51,999 49,336 3.3x 3.0x 2.4x 40,000 50,000 2024 2025 9M/2026 0.0x 0.5x 1.0x 1.5x 2.0x 2.5x 3.0x Net Debt (MB) Net Debt to EBITDA (x) Note: 1. Net Debt refers to Interest-Bearing Debt minus Cash & cash under management 2. EBITDA includes dividend from associates 1,726 2,205 723 2,593 2,158 1,777 25,008 5,402 1,581 29,327 9,765 4,081 0 5,000 10,000 15,000 20,000 25,000 30,000 2024 2025 9M/2026 Maintenance Efficiency, ESG, Innovation & Others Growth1 2 D/E Ratio (Total Debt to equity) 0.98x 0.93x0.96x CAPEX plan (MB) • Cash & cash under management of 13,527 MB, interest-bearing debt of 62,863 MB, average cost of debt at 3.3%, and net debt to EBITDA at 2.4x • CAPEX spending was 4,081 MB in 9M/2026 with FY2026 budget of 10,000 MB (growth CAPEX of 5,500 MB and regular maintenance, efficiency, ESG, innovation & others at 4,500 MB) • Fitch ratings has assigned SCGP’s proposed 40,000 MB medium-term note programme (MTN) a senior unsecured rating of A(tha) Total Capex / Revenue (%) 22% 8% Capital structure Financial strength to pursue growth with discipline 4% CAPEX Plan 2026 10,000 MB Maintaining financial flexibility and a disciplined investment approach to capture growth opportunities
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of this line 13 Business Update III.
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of this line 14 Indonesia packaging paper operation Sustaining positive momentum via domestic demand capture, cost efficiency and disciplined growth Key performance and going forward • Improved performance on regional price alignment and sustained cost efficiency, while domestic volume declined on product rationalization • Focus on domestic demand, especially food and beverage; retain premium customers; and deliver cost savings through domestic RCP sourcing, energy mix and portfolio optimization • Study duplex machine modification to drive volume growth and cost competitiveness; pursue M&P with box plants to lift chain integration above 26%, both supporting margin expansion PERFORMANCE SALES VOLUME 281 296 264 283 271 35 71 36 54 55 316 367 300 337 326 Q3/2025 Q4/2025 Q1/2026 Q2/2026 Q3/2026 ExportDomestic Unit: ‘000 tons +3% YoY - 3% QoQ Total volume + 3%Domestic vol. 12-month moving Avg. Unit: Billion IDR 2 (37) 166 290 330 (240) (404) (19) 107 143 1,907 2,177 1,953 2,399 2,499 - 500 1,000 1,500 2,000 2,500 (600) (400) (200) - 200 400 600 800 Q3/2025 Q4/2025 Q1/2026 Q2/2026 Q3/2026 Revenue EBITDA Profit (Loss) Q4/2025
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15 VEM (Thailand) progress update Pursuing growth in healthcare supplies market • Expand manufacturing capacity to meet growing demand for healthcare products across ASEAN • Leverage and combine group capabilities and technologies to produce Deltalab’s and Bicappa’s products in TH • Broaden international customer coverage and partner network Strategic rationale Q2/2026 Q3/2026 Commercial syringe Safety needle Commercial sterile urine container Location: Rojana Industrial Park, Rayong, Thailand Capacity: Operating 30 production lines • Urine container: 12 million units/year • Syringe: 180 million units/year • Needle: 100 million units/year • Medical tube: 9.5 million meters/ year Product Launching Q4/2026 Submitted for TH-FDA License approval Commercial hypodermic needle & medical tube Production 3ml 5ml 10ml
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16 Packaging chain expansion to capture demand growth Strengthening competitive position to fulfil customer requirement and support sustainable growth across ASEAN Plasterboard liner expansion Location: Wangsala, Kanchanaburi - within existing facilities Expected commercial start-up: Q4/2028 M&P with Jin Zhong Fa Paper Industrial (JZF) Location: Chonburi- proximity to customers & SCGP's existing facilities in Eastern TH Financial performance consolidation: Oct 2026 Strategic Rationale Flexible new cutting-edge machine • Plasterboard liner: Capture growing regional demand for lightweight construction materials, while strengthening competitiveness • Premium liner: Supports full utilization across TH and VN Strategic Rationale Phase I: Existing operation Broaden client base, mainly Chinese fruit exporters, while lifting network synergies and captive use Phase II: Expansion plan Reinforce market position in the Eastern region Note: 1. Post-net debt adjustments PACKAGING PAPER FIBER PACKAGING
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of this line 17 Outlook & Key Takeaways IV .
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18 Toward transformative transformation Driving growth and profitability through strategic expansion, portfolio diversification, operational excellence, continuous transformation and ESG-aligned initiatives, while progressing toward FY2026 targets Profitability Strengthen resilience & efficiency Adaptive growth and innovation strategy ESG & people Target in 2026 Strategy 9M/2026 EBITDA: 18,300 MB1 Margin: > 14% Expansion project: 3 projects Consumer packaging: 49% Operational & supply chain excellence: 600 MB2 Alternative fuel3 : 40% EBITDA: 15,819 MB Margin: 17% Expansion project: 3 projects • Fiber packaging in VN, TH • Plasterboard & premium liner in THCost saving: 642 MB (AI initiative: 436 MB) Alternative fuel3: 37% (No. of modified boiler & new biomass boiler4: 5 boilers) Note: 1. Volume growth ~ 5% which higher than targeted average market growth 2. AI implementations generate cost saving: 260 MB in 2025 and 450 MB in 2026 3. Alternative fuel = Renewable energy (biomass + biogas + black liquor + solar cell) + waste reject + used oil 4. Modified boiler: SKIC-BP PB16 & 19, TCP2-PB1 (startup Q4/2026) and new biomass boiler: TCNK, TCPT Al facilitator: 250 personsConsumer packaging: 48%
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19 Rising cost and inflation Consumer spending constrainedSupply chain impact Q3/2026Q1-Q2/2026 Q4/2026 onwards Moderate level of raw material tightness • Overall, SCGP’s impact in Apr-May 2026 remained contained, with continued focus on business continuity Broad-based inflation • Energy cost pressure, e.g., coal, oil, diesel • Resin and material costs Diverging consumer demand • Softer purchasing power curbs consumer discretionary spending • Consumer staples stay steady Customer demand impact • SCGP’s customers’ direct exports to the Middle East (~1% of total SCGP sales) • SCGP’s customer demand slowdown (Potential risk: 2- 4% of total SCGP sales from Q3 onward) Key execution • Secured raw material continuity through alternative sourcing, e.g., energy sources • Partner with customers to optimize formulations & improve material availability • Focus on margin management & expand formula-linked contracts • Cost saving initiatives & financial discipline • Optimize inventory and capacity to match customers’ demand shifts • Rebalance portfolio toward consumer link Strategic opportunities • Strengthen supply chain resilience via alternative sourcing and pooled sourcing for fuel, resin & material • Capture opportunities from domestic & new export markets, e.g., South Asia • Accelerate substrate substitution (polymer → fiber) and new product & solutions offerings to customers • Weaker demand, especially in E&E and automotive ~2% in Q3 • Overall demand declined by 1.2% in Q3, as strong VN & ID demand partly offset related impacts Value chain impact • Tighter consumer spending poses a potential demand risk of 2.5% in Q4 • Overall Q4 is expected broadly flat, supported by year-end promotions & TH post-flood recovery demand Impact assessment of geopolitical shifts Implications for value chain, costs, demand and SCGP’s execution
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of this line 20 Packaging solutions ahead ASEAN • Sustaining growth, anchored by domestic consumption and public investment; essential demand remains resilient amidst high household debt • External headwinds from trade uncertainty, energy inflation & uneven demand, partly offset by AI-related demand, FDI, and regional investment Asia Global Demand & Volume • Q4 demand to be supported by year-end activities, continuing into Q1/27, particularly in VN (Tet) and ID (Hari Raya); operations may slow during New Year holiday period • Potential pressure on demand from tighter consumer spending on high household debt and inflation amidst persistent uncertainties Costs & Pricing • Packaging paper pricing remains aligned with market and input-cost trends; cost optimization helps mitigate inflationary pressures • Consumer packaging benefits from value-based pricing amidst elevated costs, while less volatile input costs support production planning Capability & Profitability • Capturing growth through business transformation to enhance competitiveness, reinforced by automation and fit-for-purpose AI capabilities • Pursuing expansion in VN and India to strengthen market presence and unlock opportunities MACRO & REGIONAL MOVEMENT BUSINESS OUTLOOK • Fastest-growing region, with China’s policy support for investment and consumption and India’s public investment sustaining growth • Resilient GDP growth, with performance increasingly dependent on sector - specific opportunities and domestic demand strength • Moderating GDP growth, led by high-tech investment; prolonged Middle East tensions keep costs & inflation elevated, with limited impact from trade barriers • Maturing CN-to-ASEAN-to-CN reallocation benefits, requiring focus on maximizing opportunities while monitoring competitive landscape and investment trends. Positioning for sustainable and selective growth, with enhanced profitability through ongoing business transformation
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21 End of presentation
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of this line 22 EBITDA & Core EBITDA: Q3/2026 Unit: MB Q1/26 Q2/26 Q3/26 EBITDA1 4,641 5,821 5,357 Key Items 1) Gain on bargain purchase - - 156 2) Cease business - - - 3) Asset impairment - (27) (5) 4) NRV Adjustment 25 (8) (47) Total 25 (35) 104 Core EBITDA3 4,616 5,856 5,253 Unit: MB Q1/25 Q2/25 Q3/25 Q4/25 EBITDA2 4,232 4,257 4,154 4,567 Key Items 1) FX gain/(loss) from loans, derivatives & investment 15 64 (36) (26) 2) Company restructurings - - - (269) 3) Changes to local regulations - - - - 4) Items related to M&Ps transactions (1) (28) (1) 1,301 5) Others (39) - (19) (127) Total (25) 36 (56) 879 Core EBITDA 4,257 4,221 4,210 3,688 Note: 1. EBITDA includes dividend from associates 2. EBITDA excludes dividend from associates 3. Core EBITDA (Adjusted cash EBITDA) = EBITDA – key items adjustments
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of this line 23 Net profit & Core profit: Q3/2026 Unit: MB Q1/26 Q2/26 Q3/26 Net profit 1,566 2,304 2,026 Key Items 1) Gain on bargain purchase - - 109 2) Cease business - - - 3) Asset impairment - (20) (5) 4) NRV Adjustment 24 (11) (23) Total 24 (31) 81 Core profit1 1,542 2,335 1,945 Unit: MB Q1/25 Q2/25 Q3/25 Q4/25 Net profit 900 1,010 953 1,206 Key Items 1) FX gain/(loss) from loan, derivatives & investment 13 45 (29) (22) 2) Company restructurings - - - (183) 3) Changes to local regulations - - - - 4) Items related to M&Ps transactions (1) (28) (1) 1,072 5) Others (28) - (15) (482) Total (16) 17 (45) 385 Core profit 916 993 998 821 Note: 1. Core profit (Adjusted profit) = Net profit – key items adjustments after tax & after NCI
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of this line 24 Unit : MB 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Revenue from sales 32,209 31,557 30,438 30,170 29,295 32,454 32,577 Integrated packaging business 24,131 23,856 23,322 23,549 22,719 25,272 25,158 Fibrous business 6,441 5,926 5,635 5,379 5,537 6,006 6,105 Recycling business 1,637 1,775 1,481 1,242 1,039 1,176 1,314 EBITDA2 4,232 4,257 4,154 4,567 4,641 5,821 5,357 Integrated packaging business 3,504 3,813 3,814 4,373 4,355 5,181 4,673 Fibrous business 727 446 384 298 286 608 632 Recycling business and corporate 1 (2) (44) (104) - 32 52 EBITDA margin (%) 13% 13% 14% 15% 16% 18% 16% Core EBITDA3 4,257 4,221 4,210 3,688 4,616 5,856 5,253 Core EBITDA margin (%) 13% 13% 14% 12% 16% 18% 16% Net profit 900 1,010 953 1,206 1,566 2,304 2,026 Net profit margin (%) 3% 3% 3% 4% 5% 7% 6% Core profit4 916 993 998 821 1,542 2,335 1,945 Core profit margin (%) 3% 3% 3% 3% 5% 7% 6% COGS 26,411 25,820 24,967 24,922 23,131 24,750 25,719 COGS to sales (%) 82% 82% 82% 83% 79% 76% 79% Note: 1. Figures are “After Inter-segment elimination” which are managerial report basis 2. EBITDA includes dividend from associates 3. Core EBITDA (Adjusted cash EBITDA) = EBITDA – key items adjustments 4. Core profit (Adjusted profit) = Net profit – key items adjustments after tax & after NCI Consolidated financial performance (after inter-segment elimination1) The figures are shown in the presentation
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of this line 25 Unit : MB 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Revenue from sales 32,209 31,557 30,438 30,170 29,295 32,454 32,577 Integrated packaging business 24,223 23,934 23,424 23,640 22,815 25,387 25,323 Fibrous business 6,924 6,363 6,027 5,752 5,957 6,548 6,676 F Recycling business 2,012 2,091 2,077 2,125 1,720 2,073 2,133 Intersegment elimination (950) (831) (1,090) (1,347) (1,197) (1,554) (1,555) EBITDA1 4,232 4,257 4,154 4,567 4,641 5,821 5,357 Integrated packaging business 3,510 3,821 3,811 4,385 4,363 5,188 4,680 Fibrous business 733 448 392 302 292 619 636 Recycling business and corporate 1,546 2,408 369 30 1,024 2,275 329 Intersegment elimination (1,557) (2,420) (418) (150) (1,038) (2,261) (288) Net profit (loss) 900 1,010 953 1,206 1,566 2,304 2,026 Integrated packaging business 876 1,142 1,135 1,705 1,854 2,497 2,121 Fibrous business 130 (102) (149) (125) (208) 47 59 Recycling business and corporate 1,145 2,017 (19) (231) 674 1,844 - Intersegment elimination (1,251) (2,047) (14) (143) (754) (2,084) (154) EBITDA margin (%) 13% 13% 14% 15% 16% 18% 16% Integrated packaging business 14% 16% 16% 19% 19% 20% 18% Fibrous business 11% 7% 7% 5% 5% 9% 10% Note: 1. EBITDA includes dividend from associates Consolidated financial performance (before inter-segment elimination1) The figures are shown in financial statement and MD&A
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of this line 26 Unit : MB 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Integrated packaging business 24,131 23,856 23,322 23,549 22,719 25,272 25,158 Polymer packaging 4,106 4,448 4,107 4,259 4,267 4,842 4,731 Thailand 1,234 1,182 1,126 1,116 1,178 1,353 1,331 ASEAN (Ex-Thai) 1,776 1,821 1,921 2,038 1,879 2,149 2,529 Export (ROW2) 1,096 1,445 1,060 1,105 1,210 1,340 871 Fiber packaging 7,912 7,751 7,734 7,676 7,589 8,235 8,268 Thailand 5,809 5,532 5,389 5,264 5,284 5,490 5,228 ASEAN (Ex-Thai) 2,007 2,054 2,111 2,361 2,251 2,565 2,843 Export (ROW2) 96 165 234 51 54 180 197 Packaging paper 12,113 11,657 11,481 11,614 10,863 12,195 12,159 Thailand 4,931 4,895 4,857 4,517 5,146 5,289 4,537 ASEAN (Ex-Thai) 5,697 5,864 5,655 5,876 4,848 6,096 6,112 Export (ROW2) 1,485 898 969 1,221 869 810 1,510 Fibrous business 6,441 5,926 5,635 5,379 5,537 6,006 6,105 Thailand 2,340 2,241 2,125 1,982 2,197 2,176 2,005 ASEAN (Ex-Thai) 538 685 615 740 732 848 887 Export (ROW2) 3,563 3,000 2,895 2,657 2,608 2,982 3,213 Recycling business 1,637 1,775 1,481 1,242 1,039 1,176 1,314 Note: 1. Figures are “After Inter-segment elimination” which are managerial report basis 2. ROW is Rest of the world Revenue from sales by end destination (after inter-segment elimination basis1) The figures are shown in the presentation
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of this line 27 Unit : MB 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Integrated packaging business 30,069 29,759 29,094 29,396 28,978 31,748 31,479 Packaging paper2 17,323 16,793 16,454 16,636 16,204 17,744 17,546 Thailand 9,182 9,010 8,752 8,379 9,181 9,358 8,326 Export from Thailand 1,199 1,057 1,259 1,224 1,134 1,228 1,546 ASEAN operations (Ex-Thai) 6,942 6,726 6,443 7,033 5,889 7,158 7,674 Fiber packaging 8,606 8,494 8,506 8,473 8,479 9,125 9,124 Thailand 6,472 6,241 6,137 6,023 6,139 6,337 6,043 Export from Thailand 8 12 12 16 20 14 14 ASEAN operations (Ex-Thai) 2,126 2,241 2,357 2,434 2,320 2,774 3,067 Polymer packaging 4,140 4,472 4,134 4,287 4,295 4,879 4,809 Thailand 1,244 1,193 1,141 1,134 1,194 1,376 1,343 Export from Thailand 107 347 167 123 130 228 206 ASEAN operations (Ex-Thai) 2,789 2,932 2,826 3,030 2,971 3,275 3,260 Fibrous business 6,924 6,363 6,027 5,752 5,957 6,548 6,676 Thailand 2,800 2,658 2,495 2,327 2,591 2,694 2,462 Export from Thailand 2,879 2,378 2,192 2,167 2,252 2,407 2,435 ASEAN (Ex-Thai) & UK operations 1,245 1,327 1,340 1,258 1,114 1,447 1,779 Recycling business 2,012 2,091 2,077 2,125 1,720 2,073 2,133 Note: 1. Figures are “Before inter-segment elimination” while already eliminated intercompany sales within the same Business unit which are managerial report basis 2. Revenue included Packaging paper that sold to SCGP’s Fiber packaging operations Revenue from sales by operation (before inter-segment elimination basis1)
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of this line 28 3. ROIC = EBIT(1-tax) / (total debt + total equity - cash on hand)Note: 1. Return on Asset is “include NCI basis” 2. Return on Equity is “exclude NCI basis” 2021 2022 2023 2024 2025 3M/202 6M/2026 9M/2026 Return on assets1 (%) 5% 3% 3% 2% 3% 3% 4% 4% Return on equity2(%) 9% 6% 6% 5% 5% 6% 8% 9% Return on invested capital3(%) 8% 5% 5% 4% 5% 5% 6% 7% Net debt to EBITDA (times) 1.7 1.9 1.8 3.3 3.0 2.9 2.6 2.4 Interest-bearing debt to equity ratio (times) 0.5 0.4 0.5 0.7 0.7 0.7 0.7 0.7 Key Financial Ratio The figures are shown in financial statement and MD&A
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of this line 29 SCGP Information 2024 FY2024 2025 FY2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3Q1 Q2 Q3 Q4 Revenue from sales by operation1 Packaging paper revenue from sales (MB) 18,253 17,884 17,040 16,544 69,721 17,323 16,793 16,454 16,636 67,206 16,204 17,744 17,546 Fiber packaging revenue from sales (MB) 8,837 8,685 8,831 8,713 35,066 8,606 8,494 8,506 8,473 34,079 8,479 9,125 9,124 Polymer packaging revenue from sales (MB) 4,141 4,489 4,449 4,407 17,486 4,140 4,472 4,134 4,287 17,033 4,295 4,879 4,809 Fibrous business revenue from sales (MB) 7,027 7,058 7,202 5,860 27,147 6,924 6,363 6,027 5,752 25,066 5,957 6,548 6,676 Sales volume by operation1 Packaging paper sales volume - Million tons 1.05 0.99 0.94 0.97 3.95 1.02 1.01 1.00 1.05 4.08 0.98 1.04 1.01 Fiber packaging sales volume - Million tons 0.25 0.24 0.25 0.25 0.99 0.25 0.25 0.25 0.26 1.01 0.27 0.27 0.26 Polymer packaging sales volume - Thousand tons 30.56 32.73 33.88 34.53 131.70 32.24 35.45 34.40 36.11 138.20 35.84 32.85 33.71 Fibrous business sales volume - Million tons 0.16 0.17 0.16 0.15 0.64 0.17 0.15 0.16 0.16 0.64 0.17 0.17 0.17 Revenue from HVA2, new products & service solutions HVA of total sales 37% 38% 40% New products of total sales 13% 11% 9% Service solutions of total sales 7% 4% 4% Note: 1. SCGP’s revenue and sales volume before inter-segment elimination while already eliminated intercompany sales within same business unit which are managerial report basis 2. HVA is high value added products
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of this line 30 Annual capacity: Full year basis Integrated packaging business Unit TH VN PH ID MY ES IT NL US Total Packaging paper MT/year 1.85 0.50 0.45 1.80 4.60 Fiber packaging (containerboard) MT/year 0.95 0.26 0.48 1.69 Fiber packaging (offset folding carton) Ton/year 24,700 26,500 51,200 Fiber packaging (rigid box) Million boxes/year 8.00 8.00 Integration level (fiber packaging/packaging paper) 50% 52% 26% 36% Polymer packaging Flexible packaging Million m2/year 497 509 1,006 Rigid packaging Thousand tons/Year 27 116 143 Medical supplies & labware Million pieces/year 59 250 600 909 Fibrous business Printing & writing paper & others MT/year 0.49 0.49 Foodservice packaging Billion pieces/year 2.43 4.00 3.00 9.43 Recycling business (sourcing capacity) RCP: Peute (NL) & Jordan (US) MT/year 2.00 0.10 2.10 Recycled plastic MT/year 0.20 0.20 Note: (For data in the table) 1. Full-year basis without pro-rate from consolidation/start-up date 2. Data included M&P of SOVI, Go-Pak, Duy Tan, Intan Group, Deltalab, Peute, Jordan, Bicappa, Starprint, VEM-TH, MYPAK, and Jin Zhong Fa 3. Data included organic expansion of Batico#2, VEXCEL Line#7, FAJAR Plant#2, Prepack#2, UPPC#3, Pressboard, Molded pulp, Flexible packaging in TH (Cyberprint group), Peute, Fiber packaging in TH Data as of 27 October 20261,2,3
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of this line 31 Market Information 2024 FY 2024 2025 FY 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Oct Testliner paper price (USD/Ton CIF - ASEAN regional price) 397 392 394 382 391 380 380 373 376 377 385 406 409 4001 AOCC price (USD/Ton CIF - from US to Asia) 216 224 209 175 206 178 174 166 149 167 148 169 183 1981 Short fiber pulp price (USD/Ton CIF - from US to China) 654 727 641 552 643 575 549 502 534 540 581 604 575 5851 Dissolving pulp price (USD/Ton CIF - imported to China) 905 941 955 968 942 941 849 808 808 852 810 882 902 9211 Total China import volume of containerboard (Million ton) 2.29 2.20 1.91 1.89 8.29 1.97 1.65 1.43 1.79 6.84 1.58 1.34 1.572 N/A Updated market information Note: 1. Internal data as of 23 Oct 2026 2. Data from General Administration of Customs of the People's Republic of China as of 20 Oct 2026
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32 3232 66-2-586-2939 SCGP_invest@scg.com https://investor .scgpackaging.com For more information, please contact Investor relations, SCG Packaging Plc Thank you