Slides
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Investor Day September 9, 2025
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Welcome Mary Skafidas, Senior Vice President, Investor Relations and Communications 2
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Investor Day 2025 │ Forward Looking Statements & Non-GAAP Financial Measures This presentation includes forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on management’s beliefs and assum ptions in light of information currently available to management. Accordingly, the Company’s actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in the Company’s operations and business environment, including, among other factors, those described in documents filed by the Company with the Securities and Exchange Commission, specifically its Form 10-Ks and 10- Qs. The Company does not assume any obligation to update, amend or clarify such statements to reflect new events, information or circumstances after the date of this presentation. During the course of this presentation, certain non-GAAP financial information will be presented. Refer to the Appendix at the end of this presentation for additional information and a reconciliation to the most directly comparable GAAP measures. However, we are not able to reconc ile forward-looking non- GAAP financial measures because certain reconciling items are dependent on future events that either cannot be controlled, such as exchange rates and changes in the fair value of equity investments or reliably predicted without unreasonable effort because they are not part of the company's routine activities, such as restructuring and acquisition costs. The variability of these items could have a significant impact on our future GAA P financial results. Adjusted EBITDA and EPS exclude the impact of restructuring initiatives, acquisition related costs, certain purchase accounti ng adjustments related to acquisitions and investments and net unrealized investment gains and losses related to observable market price changes on equity securities. EBITDA Margin is EBITDA divided by reported net sales. Adjusted EBITDA margin is adjusted EBITDA divided by reported net sales. Adjusted EPS also neutralizes the impact of foreign currency translation effects when comparing current results to the prior year and further adjusts for t he net effect of a tax payment related to a legal entity reorganization. Prior year Adjusted EPS includes foreign currency effects that are approximations of the adjustment necessary to state the prior year earnings per share using current period foreign currency exchange rates. Core sales exclude acquisitions and changes in foreign currency sales. Core sales growth is calculated as current sales, less acquisitions, less constant currency prior year sales, divided by constant currency prior year sales. Free cash flow is calculated as cash provided by operating activities less capital expenditures plus proceeds from g overnment grants related to capital expenditures. Return on Investment Capital (ROIC) is calculated as Adjusted Earnings before Net Interest and Taxes, less Tax Effect / Average Capital, whereas Average Capital is the average of beginning of year capital and Capital is Equity plus Debt less Cash. Dividend Payout Ratio is calculated as Cash Dividends Paid / Adjusted Earnings Per Share. 3
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Aptar at a Glance
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Investor Day 2025 │ We Innovate and Transform Ideas Into Solutions That Improve Everyday Life Proprietary Drug Dosing, Dispensing & Protection Pharma Precision Consumer Dispensing Beauty Dispensing Closures Closures 5
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Investor Day 2025 │ Pharma 46% Beauty 34% Closures 20% 33% 8% 5%21% 15% 3% 11% 4% $3.6B1 2024 % of Total Reported Sales Proprietary Drug Delivery Systems2 Injectables Active Material Science Solutions Beauty Personal Care Home Care Food Beverage Global Leader in Drug and Consumer Product Dosing, Dispensing and Protection Technologies 1: 2024 Annual Revenue 2: Proprietary Drug Delivery Devices includes Prescription, Consumer Healthcare and Digital Health Markets 3: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation 4: Segment percentages calculated as the percentage of Adjusted EBITDA for Reportable Segments 67% 19% 14% 2024 Adjusted EBITDA3,4 Pharma Beauty Closures $775M 6
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Investor Day 2025 │ Global Presence – Leverage Global Network to Produce Locally FY 2024 Net Sales by Ship To Destination 11% 49% 32% 8% Over 13,000 Dedicated Employees in 20+ Countries Employee Headcount Q2 2025 Significant history and global presence enables us to build solid and lasting credibility with regional and global powerhouse customers • Over 5,000 customers worldwide • Many of the world’s leading brands 13,000+ Employees EMEA – 62% NA – 18% LATAM – 11% ASIA – 9% 7
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Investor Day 2025 │ Delivering Proprietary, High-Value, Precision Dispensing Solutions Proprietary Drug Delivery Systems Injectable Solutions & Components Active Material Science Solutions Digital Therapeutics & Services • Allergic Rhinitis • Asthma & COPD • Pain, CNS and Emergency Meds • Vaccines and Anti-viral • Cough & Cold • Dermal • Eye Care • Analgesics • Digestives • Biologics • Vaccines • Small Molecules • Antithrombotics • Animal Health • Diabetes Care • Oral Solid Dose • Dermal Drug Delivery • Drug Delivery • Diagnostics • Probiotics / Nutraceuticals • Medical Device & Implants 8
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Investor Day 2025 │ Delivering Innovative, Precision Consumer & Dispensing Solutions Beauty Personal Care Home Care Food Beverage Services • Prestige / Masstige Fragrance • Facial Skincare • Color Cosmetics • Personal Cleansing • Body Care • Hair Care • Dish Care • Surface Cleaning • Laundry • Condiments • Infant Formula • Oils • Functional / Sports Drinks • Bottled Water • Juices 9
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Investor Day 2025 │ Executive Committee Stephan Tanda President and Chief Executive Officer Vanessa Kanu EVP and Chief Financial Officer Shiela Vinczeller Chief Human Resources Officer Xiangwei Gong EVP, Strategic Group Development President, Aptar Asia Kimberly Chainey EVP, Chief Legal Officer and Secretary Gael Touya President, Aptar Pharma Marc Prieur President, Aptar Beauty Hedi Tlili President, Aptar Closures 10
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Investor Day 2025 │ Welcome Driving Profitable Growth Stephan Tanda Aptar Pharma Gael Touya Aptar Pharma PDDS Alex Theodorakis Aptar Beauty Marc Prieur Financial Update Vanessa Kanu Aptar Closures Hedi Tlili Wrap Up | Q&A Stephan Tanda Speakers & Agenda 11 Innovation Showcase Segments
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Driving Profitable Growth Stephan Tanda, Chief Executive Officer and President 12
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Investor Day 2025 │ Investment Highlights Serving Attractive End-Markets Leading Pharma Business Innovation Driven Financial Strength & Flexibility Shareholder Value Commitment Operational Efficiency Higher Value Mix Sustainability Excellence 13
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Investor Day 2025 │ Active in Growing End Markets, with a Leading Position in Key Categories Aptar’s Value Creation Framework Progress since our last Investor Day Goals 2023 Investor Day Results FY 2024 Technology, Innovation & Sustainability Leader Enhancing Value Through Strategic Capital Allocation Focused on Cost Management & Operational Leverage Strong Balance Sheet that Provides Optionality 3% 21.6% 12.5% 4-7% Core Sales Growth1 21-23% Adjusted EBITDA Margin1 11-13% ROIC1 ~30% 30-40% Dividend Payout Ratio1 Reinvest in profitable growth 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation 14
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Investor Day 2025 │ Acceleration of value creation momentum expected to continue over the next five years Highlights Percent Change (improvement) 2022-2024 Reported Sales 8% Core Sales1 3% average2 Adjusted EBITDA1 26% Adjusted EPS1 49% Cash Dividends 15%+ increase ROIC1 40% Free Cash Flow1 87% 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation 2: Average core sales percentage 2023 - 2024 $3.6B Annual Sales for FY 2024 54% EPS increase 2022-2024 21% Pharma Sales Growth 2022-2024 32nd Consecutive year paying an annually increasing dividend in 2025 34% Net Cash from Ops increase 2022-2024 $0.5B Capital Returned to Shareholders 2022- 2024 Record Performance Fueled by Pharma Strength and Strong Margins 15
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Investor Day 2025 │ Results 1H 2025 2% Reported and Core Sales Growth1 Solid First Half 2025 Results 8% Adjusted EBITDA Growth1 8% Adjusted EPS Increase1 $210M Returned to Shareholders Through Dividends and Share Repurchases 21.7% Adjusted EBITDA Margin1 $2.86 Adjusted EPS1 161: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation Key Messages from Q2: • Narcan Distribution • Injectables Growth • Cold & Cough Normalization • Legal Fees • Safeguarding IP • Investment
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Investor Day 2025 │ Strong Foundation Positions Us for Accelerated Profitable Growth 2025 2026 2027 2028 Revenue Expansion and Innovation Leader • Pharma pipeline adds 7–10% annual revenue to a stable growing base o ~90% of Pharma revenue annually is repeat growing revenue1 • Injectables growth from new higher value products capacity and solutions Enhancing Value Through Strategic Capital Allocation • Pursuing scalable, organic growth initiatives aligned to market demand • Strategic bolt-on M&As • Dividends and share repurchases Operational Efficiency and Cost Management • Driving productivity and operational leverage • Increasing automation in manufacturing and logistics operations • Leveraging better cost countries; in region for region • Further integration with Global Talent Centers 171: Majority of Pharma revenue is growing repeat business, however there can be exceptions. • Proprietary Drug Delivery Systems: new indications / applications drive long-term growth • Reinforcing Pharma leadership position via services and Digital Health • Closures to grow faster than the industry by converting end markets to higher-value closures • Beauty to leverage better cost position, market penetration and growing customer base
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Investor Day 2025 │ Consistent Long-Term Targets Aptar 2025 Investor Day Long-Term Targets Core Sales Growth1 4-7% Adjusted EBITDA Margin1 21-23% ROIC1 12-14% Dividend Payout Ratio1 30-40% Leverage Corridor 1-3X Aptar Pharma Core Sales Growth1 7-11% Adjusted EBITDA Margin1 32-36% Aptar Beauty Core Sales Growth1 3-6% Adjusted EBITDA Margin1 15-17% Aptar Closures Core Sales Growth1 4-7% Adjusted EBITDA Margin1 16-18% 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions 18 Guided by Aptar's Strategic Priorities Organic Growth Added focus on high growth regions Talent and Leadership Added focus on upgrading talent Innovation, Operations and Commercial Excellence Acquisitions and Partnerships Focus on Efficiency and Costs Across the Organization
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Investor Day 2025 │ Aptar’s Value Creation Framework Active in Growing End Markets, with a Leading Position in Key Categories 19
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Investor Day 2025 │ Decentralized Care Models Will Reshape Healthcare6 • By 2030, up to 30% of hospital revenue could be lost to decentralized care models • The shift is likened to the evolution of libraries—healthcare is moving from centralized facilities to home-based and virtual platforms Evolving Trends Driving Strong Growth in Pharma Nasal Drug Delivery Conversion Number of Nasal Projects Nearly Doubled1 2019 2024 • Nasal pipeline showed strong dynamic growth since 2019, driven by pre-clinical phase projects, indicating the growing interest in nasal delivery • Nasal drug sales: +7% CAGR over the past 5 years • Aptar leads the world in nasal drug delivery systems 1: PharmaCircle Dataset, December 2024 2: Global Business Report, 2025 3: IQVIA Institute, June 2025 4: CDC March 2024 Accelerated Growth in Biologics • Demand is expected to increase for high value elastomeric component solutions – used for biologics and GLP-1 drugs • The obesity market is expected to grow at 23-26% CAGR between 2024-20293 2025 – 20342 +10% Worsening Allergies Allergy Season Today vs. 19904 +21% more pollen +30 days longer • Routine and chronic care will shift to homes, community centers, and virtual platforms 5: National Library of Medicine Oct. 2024 6: Healthcare Innovation August 2025 20 • Allergic Rhinitis is the most common of all allergic diseases, affecting around 10%-40% of the population globally5 • Aptar leads through new innovations, proven expertise and geographic expansion • Aptar is uniquely positioned to capitalize on this trend thanks to its leadership in digital health solutions, nasal drug delivery, and its growing position in elastomeric components
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Investor Day 2025 │ Attractive CPG Growth Trends and Regional Expansion Consumers Increasingly Favor Sustainable Solutions1 Driving conversion to higher value solutions, enhancing the user experience and helping drive our customers’ market share gains globally 1: Shorr: 2025 Sustainable Packaging Consumer Report 90% 90% of consumers are more likely to buy brands with sustainable packaging 87% 87% of consumers would buy more sustainable products if they were widely available 54% 54% of consumers reported consciously purchasing products with sustainable packaging in the last six months Prior Solution Prior Solution Higher-Value Aptar Solution Higher-Value Aptar Solution Higher-Value Aptar Solution Higher-Value Aptar Solution Prior Solution Prior Solution 21
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Investor Day 2025 │ 22 Geographic Growth Enabled By Resilient Supply Chains Geographic Growth is a Key Pillar of Our Strategy • Strong progress in India and China, two of the most dynamic markets in the world • “In Region, For Region" approach enables us to better serve local customers, adapt to market-specific needs, and effectively navigate tariff and geopolitical uncertainties • This strategy has helped build resilience and agility across our global footprint while supporting growth
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Investor Day 2025 │ Aptar’s Value Creation Framework Technology, Innovation & Sustainability Leader 23
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Investor Day 2025 │ Pharma Beauty Personal Care Home Care Beverage Food Proprietary Technology Platforms 1 Dispensing Fine Mist Pumps Dispensing Closures Dispensing Lotion Pumps Active Materials Elastomeric Components Airless Systems Aerosol Valves & Bag-On-Valves Services Digital + Connected Devices Industrial Capabilities Precision Injection Molding High Speed Assembly, AI QC 2 Metal Stamping & Anodizing Decoration Technologies and Industrial Capabilities Deployed Across End Markets 1: Only Technology Platforms that achieved more than $100M in sales in 2022. 2: Artificial Intelligence assisted Quality Control Sustainable Solutions Developing In Place New Since 2023 24
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Investor Day 2025 │ Industry Leading Innovation, Unmatched Reliability • Proprietary Intellectual Property Aptar designs and owns its IP • Pharmaceutical Excellence Aptar meets ISO 5, 6, 7, 8, and 9 cleanroom standards, with clean rooms in every facility to help ensure product integrity and safety • Regulatory Expertise and High Reliability Aptar supports emergency medicines with demonstrated reliability of 99.999%2. Regulatory know- how makes us a key partner, accelerating success from strategy to commercialization • Advanced Dispensing Solutions Aptar’s proprietary technologies deliver high-performance dispensing, enhancing patient and consumer experiences • Innovation & Rapid Development Integrated labs and prototyping accelerate efficient solution design • Human Factors Expertise We embed human factors into design to help ensure safety, usability, and a superior user experience Our advanced dispensing and dosing solutions are intended to maximize user satisfaction, delivering superior value to both customers and end users. 1: Granted and pending as of April 2025 based on company research and publicly available information 2. As demonstrated in NDA filings using our dispensing systems for emergency situations Consistent Patent Investments1 R&D spend as a percentage of sales for Aptar is ~3% with a larger portion of the R&D spend going to Pharma 22% 16% 62% 7,300+ Patents (granted or pending) Pharma Closures Beauty 26
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Investor Day 2025 │ India Innovation Center Affordability Saint Louis Human factors and user experience Le Vaudreuil Materials Japan2 Biosynthetic Materials LATAM2 Innovation Center Affordability Asia Innovation Ecosystem Connecticut Go2Lab: Fast Prototyping Clemson (Clemson) MIT (Boston) Auburn University Saginaw Valley State University South Dakota State University Wake Forest University Pescara University (IT) Supsi (CH) University of Parma University of Kiehl (DE) Tongji University Design Innovation Institute Shanghai (DIIS) Jiaotong University China Pharma University Kushan Duke Xi'an Jiaotong-Liverpool University (JTXLU) SENAI | Camaçari (BR) Loughborough University (UK) Kings College (UK) University of Bath (UK) Queen’s University (IE) ISDM (Mulhouse) (FR) Lille University (FR) University of Nice (FR) University of Tours (FR) CNRS Orleans (FR) Germany Design Customized Molding Middle East2 & Africa University of Auckland, NZ Rueil-Malmaison InVision Lab Shanghai Innovation Hub Aptar Center Aptar Innovation NETWORK1 Aptar’s Innovation Centers and Network 1: List is not exhaustive 2: Projects only, not yet operational We are at the Forefront of Innovation Globally Research & Development is a Primary Differentiator: We don't just follow trends—we help our partners shape them. Together with our clients, we redefine categories and revolutionize applications. 27
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Investor Day 2025 │ Sustainability is core to the consumer facing businesses in Beauty and Closures; Pharma is building upon key learnings and successes to become an early leader in this space Designing Circular Solutions Using Recycled Materials • POM-free and Post Consumer Resin (PCR) • Thermoplastic elastomers • Partnerships to source recyclable resin • 10% recycled resin content1 • Mono-material • Metal-free options • Recyclable • Refillable • Pressurized Metered Dose Inhaler utilizing sustainable propellants • Designed to be 100% recyclable, reusable or compostable solutions1 Purpose Driven Company • Committed to sustainable and equitable future for all our stakeholders • Focused on attracting and retaining top talent • Continuously improving our environmental impact & reducing our footprint • Improving outcomes through connected devices and onboarding solutions for patients • Europe is the largest region for revenue 1: In personal care, beauty, home care and food/beverage solutions targeted by 2025. Sustainability is a Competitive Advantage 28
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Investor Day 2025 │ Aptar’s Value Creation Framework Enhancing Value Through Strategic Capital Allocation 29
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Investor Day 2025 │ Prioritizing Capital Deployment for Highest Returns We remain focused on selective and disciplined capital allocation 17% 24% 46% 13% 2017 - 2024 • Profitable organic growth powered by disciplined capital allocation • Continued emphasis on strategic acquisitions and high-value partnerships • Consistent return of shareholder value through dividends and share repurchases • ~70% of capital reinvested into core business operations and growth initiatives • ~30% of capital returned to shareholders Acquisitions - $1.1B CapEx - $2.1B Repurchases - $0.6B Dividends - $0.8B Pharma ~50% Pharma ~57% 30
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Investor Day 2025 │ Pharma 33% Pharma 46% Beauty + Closures 67% Beauty 34% Closures 20% $2.5B $3.6B 2017 2024 Sales and Adjusted EBITDA2 Pharma 54% Pharma 67% Beauty + Closures 46% Beauty 19% Closures 14% $475M $775M 2017 20242017 2024 Sales Sales Adj. EBITDA2 Adj. EBITDA2 Growing Pharma End Markets Since 2017, revenue and adjusted EBITDA from pharma end markets have more than doubled, driven by both organic growth and acquisitions 31 Pharma 50% Beauty 30% Closures 20% Beauty + Closures 78% Pharma 22% $148M $259M Segment Capital Expenditure Investments1 2017 2024 1: Excluding Corporate Capital Expenditures 2: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ Estimate $- $20 $40 $60 $80 $100 $120 $140 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 Consecutive Years Increasing Annual Dividend Paid Consistent Track Record of Returning Capital to Shareholders • 32nd consecutive year of paying an increasing annual dividend • Announced a nearly 7% increase in quarterly dividend (September 2025) • $210M returned through dividends and share repurchases (1H 2025) • Historically dividend target payout ratios of 30-40% of Adjusted EPS1 • Our Board authorized a repurchase of up to $500 million of common stock (October 2024) • As of June 30, 2025, there was $313 million of authorized share repurchases remaining under the existing authorization $1B+ Returned to shareholders through dividends and share repurchases since 2020 Consecutive Years Increasing Annual Dividend Paid 1994 - 2025 321: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ Board of Directors Julie Xing Matt Trerotola George L. Fotiades Stephan B. Tanda Giovanna Kampouri Monnas B. Craig Owens Isabel Marey-Semper Candace Matthews Ralf K. Wunderlich Sarah Glickman Extensive experience and strong leadership across our core end markets, global regions and critical functional disciplines, including: • Pharmaceuticals, Consumer Packaged Goods and Packaging • 7 Directors have Pharma experience • Global P&L oversight and executive leadership across Finance, Marketing, Operations and Strategy • Strategic portfolio management and business restructuring • Experience across public, private and private equity-backed ownership models • Board-level insight from four current or former public company CEOs • Independent Chair leadership since 1995 • Purposeful Board Refreshment / Average Tenure 8 years 33
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Investor Day 2025 │ Today’s Speakers: Strategic, Execution-Focused, Internationally Experienced Across End Markets Gael Touya President, Aptar Pharma Marc Prieur President, Aptar Beauty Hedi Tlili President, Aptar Closures Alex Theodorakis President, Aptar Pharma Prescription Vanessa Kanu EVP and CFO • In role since September 2018 • Previous roles at Aptar include: ‒ President, Food + Beverage (2016 - August 2018) ‒ President, Food + Beverage Europe (2012 - 2015) ‒ Business Development, VP of Skincare and Color Cosmetics (2010 – 2011) • Aptar experience as a sales manager and P&L leader in Asia • Instrumental in development of service offerings and focus on formulation to patient • In role since December 2019 • Previous roles at Aptar include: ‒ President, Food + Beverage (2016 – August 2018) ‒ VP Operational Excellence • Additional Aptar leadership experience in Sales and Operations roles for Consumer Health Care in Europe and in various roles in Pharma business in Asia • Director for Pharma sites in France and New York • In role since December 2019 • Previous roles at Aptar include: ‒ President, Food + Beverage (2020-2022) ‒ President, Beauty + Home EMEA (2018-2019) ‒ President, Food + Beverage EMEA (2015-2018) • Instrumental in implementing transformation initiatives in both segments and extensive knowledge of developing markets • Leadership experience at Sonoco and Albéa • In role since 2017 • Previous roles at Aptar include: ‒ President and General Manager North America Pharma and Beauty (2008- 2017) ‒ Director Manufacturing Congers for Pharma/Beauty (2005- 2008) ‒ VP Sales Pharma North America (1999-2005) • Started his career at Aptar with Beauty In role since January 2025 Previous roles include: ‒ Global Chief Financial Officer, TELUS International; scaled the business through strategic acquisitions and double-digit organic growth ‒ Chief Financial Officer, Mitel Networks Corporation; oversaw global finance and transformation across four continents Board Member, including NYSE-listed financial institution Served on Audit and Corporate Governance Committees 34
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Aptar Pharma Gael Touya, President, Aptar Pharma
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Investor Day 2025 │ 72% 17% 11% Aptar Pharma - At a Glance FY 2024 1H 2025 Core Sales Growth %2 8% 3% Adjusted EBITDA Margin %2 34.6% 35.1% % of Total Revenue 46% 46% % of Total Adjusted EBITDA2 67% 68% FY 2024 % of Pharma Segment Sales $1.6B in Revenue Proprietary Drug Delivery Systems1 Injectable Solutions & Components Active Material Science Solutions 1: Proprietary Drug Delivery Devices includes Prescription, Consumer Healthcare and Digital Health Markets 2: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation We are a proprietary leader in precision drug dosing and dispensing active in highly regulated markets • IP Breadth: We produce our own IP—which helps ensure control differentiation • Diversified Portfolio: Our growth is resilient and diversified—no single drug drives our path • Conversion: Comprehensive lifecycle management strategy, with our delivery system as part of the Drug Master File • Originator → Generic Transition → OTC Switch • Regulatory expertise makes us a trusted partner • Our services help enable early engagement and deeper pharma collaboration • Our digital health offerings set us apart from other suppliers --we’re aligned with pharma leadership in the fast-growing digital therapeutics space • A strong balance sheet supports pharma investment and long-term strength 36
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Investor Day 2025 │ Aptar Pharma - Drug Delivery Systems Portfolio, IP Breadth Spray Pumps Unidose (UDS) & Bidose (BDS) Systems Eye Care Droppers Vial Containment Solutions Elastomer Solutions for Pre-filled Syringe Metering Valves for Metered Dose Inhalers (MDIs) Orbital and Prohaler Dry Powder Inhalers Breath Actuated Inhalers (BAI) Airless Technology Nasal Vaccines Bag-On-Valve (BOV) and PureHale Active Material Science Digital Healthcare Training Devices Preclinical Devices 37
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Investor Day 2025 │ $- $100 $200 $300 $400 $500 $600 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Adjusted EBITDA ($ in Millions) $- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Reported Net Sales ($ in Millions) Aptar Pharma - Global Reach, Trusted Partner, Broad Offerings FY 2024 1H 2025 Net Sales $1.6B $0.9B Reported Net Sales Growth % 8% 4% Adjusted EBITDA1 $568M $299M Adjusted EBITDA Margin %1 34.6% 35.1% 381: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ Total Drug Sales by Delivery Route 45% 43% 5% 4% 2% 1% Oral Strong growth potential Focused on specialized high-value market for drugs with sensitive formulations$1.7T Total Drug Sales Market1 Injectables Growing position with expanded capacity in High-Value Product offerings Respiratory Well positioned with proprietary products Dermal / Transdermal Well positioned with proprietary products Technology platform shared with Beauty segment Eye Care Well positioned with proprietary products Other Routes 1: IQVIA Data 2024, Strategy & Market Team Analysis 39
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Investor Day 2025 │ 40 Well-Positioned to Address Patient Needs Across Multiple Drug Delivery Routes 2025 2026 2027 2028 2029 2030 2031 2032 2033 Pharma Packaging Market1 Primary + Secondary Packaging ($B) Topical Oral Inhalation Injectables Nasal Secondary Packaging $165 $177 $189 $202 $216 $232 $248 $266 $280 1: Source: Aptar Packaging Market Estimates (Triangulation of Packaging market studies from Global Market Insights, Strategic Packaging Insights, Zion Market Research, Data Bridge Market Research, Towards Packaging, Roots Analysis and Future Market Insights)
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Investor Day 2025 │ 41 Building Blocks for Growth Strong & Growing Pipeline Robust & Diverse Product Portfolio Converting Drugs to New Delivery Routes, Lifecycle Extension and Comprehensive lifecycle Management Strategy High-Value Products & Solutions in Injectables Address Fastest Growing Market Needs Our Services Accelerate and Derisk our Pipeline Digital and Patient Engagement is Opening New Avenues for Growth and Aligns with Pharma C-Suite Strategic Priorities Launches from pipeline add 7-10% of revenue annually with 90% of revenue coming from growing repeat business1,2 Average weighted value of opportunities has increased 54% since 2019 4,500+ active and pending patents with expertise across multiple delivery routes Originator → Generic → OTC Injectable → Nasal Our recent investments, expanding injectables HVP capacity are contributing to our growth Upstream and downstream service capabilities allow us to partner with our customers earlier in the process -- accelerates the adoption of our delivery system and aids in the commercialization of our customer's drug Access to patient insights, product usage data and outcomes are top-of- mind to pharma leadership 1: Based on internal data 2: Majority of Pharma revenue is growing repeat business, however there can be exceptions.
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Investor Day 2025 │ Growing and Robust Pharma Pipeline Cardiology CNS DiseasesAntivirals Emergency TreatmentsBiologics Sustainability Drug Overdose (Narcan®) Asthma/COPD (e.g. Bevespi®) Hypoglycemia (Baqsimi®) Allergy (e.g. Astepro®) Depression (Spravato®) Seizure (e.g. Valtoco®) Migraine (e.g. Sumatriptan) Opportunities Early Stage Projects1 (Not in the Public Domain) Late Stage Projects1 (Not in the Public Domain) Customer Disclosed Projects Still in Clinical Trials1 (In the Public Domain) Launched Projects (In the Public Domain) 1: There is a high degree of risk and uncertainty around the final regulatory approvals necessary for successful launch of these projects. Aptar makes no claim regarding the potential success of these projects 2: Majority of Pharma revenue is growing repeat business, however there can be exceptions. • Pain Management • Cardiac / Atrial-fibrillation • Drug Overdose • Anaphylaxis • Vaccines • Antivirals • Chronic Diseases • CNS Diseases~1,200 New launches in Proprietary Drug Delivery Systems and Injectables from 2019-2024 42 Anaphylaxis (neffy®) • Pipeline launches add 7-10% revenue annually • 90% of revenue is growing repeat business2 • Over the long-term, we expect sales to continue growing between 7-11% 42
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Investor Day 2025 │ 2019 2020 2021 2022 2023 2024 Project Pipeline Continues to Strengthen in Both Number of Opportunities and Value Increase in Average Weighted Value of Opportunities Increase in Average Number of Opportunities Pharma Commercial Pipeline1 +54% Avg. Weighted Value of Opportunities +46% Avg. Number of Opportunities 6+ year average project pipeline % Increase (2019-2024) COVID-19 43 1: Pipeline includes Proprietary Drug Delivery Systems and Injectables 2: Largest number of commercial launches since 2018 Largest number of commercial launches2
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Investor Day 2025 │ 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Revenue from Drug X 44 30x in revenue One molecule can create perpetual revenue Pipeline launches add to steady stream of revenue from growing repeat business1 Lifecycle of a Nasally Delivered Molecule Using Aptar’s Proprietary Drug Delivery System Development 1988 Originator 1994 Generics 2006 Brand Extension 2007 Originator Goes OTC Status 2014 Generics Go OTC 2017 Drug X first version approved for prescription in 1994 with Aptar’s nasal delivery system in its Drug Master File • Using Aptar’s Delivery technology (originally developed by Beauty) remains the delivery system throughout the lifecycle of the drug • More than 3 billion Aptar delivery systems have been sold for this molecule • Aptar has received revenue for its delivery for this molecule for 30 years and counting Originator Generic OTC For Illustrative Purposes 1: Majority of Pharma revenue is growing repeat business, however there can be exceptions.
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Our Pharma Approach 45
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Investor Day 2025 │ Two Major Factors Supporting Growth of Our Pharma Business 1: IQVIA Institute, Global Trends in R&D 2025, March 2025 With smaller pharma leading the way and increased regulatory complexities, services have become essential to successful drug development programs 1. Drug development is driven by small to mid-size pharma1 2. Increased regulatory complexities can be seen worldwide • EU & U.S. Proprietary devices are subject to increased scrutiny (Combination Products regulations) • Heightened focus on safety, specifically the FDA's official guidance regarding Combination Products Decades of Proven Regulatory Experience (U.S., EU, China, Brazil and India) Aptar is a Trusted Partner Equipped with the capacity, scale and financial stability to help navigate the long approval process End-To-End Support De-risking the drug development processes 46 • Emerging biopharma companies drove innovation across all clinical trial phases in 2024, initiating 63% of total trial starts—a notable rise from 56% in 2019 • In contrast, large pharmaceutical companies accounted for just 26% of trial starts in 2024, reflecting a strategic shift in the industry landscape
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Investor Day 2025 │ Core Business Added Upstream and Downstream Capabilities to Bolster Core Business Device & Formulation Dev. Clinical Trials Regulatory Filings Market Launch & Post-LaunchManufacturingDesign Services support, accelerate and derisk our customers’ product development and enhance patients’ experiences From NDAs to ANDAs and 505b2 filings, our regulatory expertise and credibility derisk pharma company's submissions by leveraging 30+ years of experience supporting our customers and responding to regulators Adding Value Throughout the Drug Development Process Device & Formulation Patient Insight Analytical Testing Human Factors Clinical Supplies Regulatory Support Clinical Manufacturing Commercial Manufacturing & Release Patient Onboarding Device Supply – Patient Monitoring Solutions Patient Insights UX / Human Factors Software Development Connected Devices Clinical Evaluation Regulatory Approval Commercial Operations Training & Onboarding 47 Phase 1 & Phase 2 CDMO Capabilities
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Investor Day 2025 │ We help support and derisk your development processes by providing end-to-end support to get products to market faster We work to develop and provide best in class drug delivery solutions addressing the broadest range of therapeutic areas and routes of administration Drug Services Systems & Components Patient Services & Digital Health PATIENT CENTRIC From Formulation to Patient – The Patient is at the Center of Everything We Do Empowering our customers with comprehensive support from upstream product development through successful product launch and ongoing post-launch assistance We help to reinvent patient treatment and engagement to improve efficacy and outcomes 48
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Pharma Divisions 49 Alex Theodorakis, President, Aptar Pharma Prescription
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Investor Day 2025 │ Proprietary Drug Delivery Systems • Allergy • Pulmonary • Systemic Nasal Drug Delivery - Pain, CNS and Emergency Meds 72% Proprietary Drug Delivery Systems1 Injectable Solutions and Components Active Material Science Solutions FY 2024 % of Pharma Segment Sales 1: Proprietary Drug Delivery Systems includes Prescription, Consumer Healthcare, and Digital Health Markets. 2: Prescription includes Digital Health Market. From Prescription to OTC • Cough and Cold • Dermal • Eye Care • Vaccines and Antivirals • Analgesics • Digestives Application Fields Prescription2 – 50% Consumer Healthcare – 22% 50
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Investor Day 2025 │ PureHale® BOV Best-in-Class Commercialized Healthcare Solutions Designing, manufacturing and assembling Proprietary Drug Delivery Systems for the pharmaceutical market, covering a wide range of therapeutic areas Landmark® Dose Counter Lateral Control System pMDI valves Multi-dose Nasal pumps Bidose (liquid) Unidose (liquid / powder) Aptar Pharma Solution 30+ years of experience and know-how in dosing and dispensing medicine Airless Systems Ophthalmic Squeeze Dispenser Delivery Route 51
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Investor Day 2025 │ Short-Term Emergency Medicine & Channel Dynamics No Single Drug Defines Our Long-Term Trajectory Emergency Medicine Year % of Aptar Sales 2022 2% 2023 4% 2024 5% • Emergency Medicine grew strongly from 2022–2024, driven by Narcan® and generics entering the OTC market • Will face tough year-over-year comparisons; Narcan / naloxone sales expected to slow after rapid growth • While the federal government no longer supports harm reduction programs; it has clarified that Narcan and naloxone are not included. However,market inventory appears to be ample • OTC shift complicates demand forecasting and inventory tracking due to public affairs dynamics; channel visibility remains limited • Medium- to long-term PDDS growth supported by a diversified pipeline and portfolio • Over 10 years, Pharma’s CAGR expected to align with long- term growth targets 52
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Investor Day 2025 │ Extensive Range of Drugs Using Our Proprietary Drug Delivery Systems IMITREX® ZOMIG® VALTOCO® NAYZILAM® SPRAVATO® CYNACOBALAMIN DESMOPRESSIN ZAVZPRET NARCAN® (naloxone) BAQSIMI neffy® METOCLOPRAMIDE 53 Broadening therapeutic areas—from migraine treatment to depression medication, opioid overdose reversal, diabetes, anaphylactic shock and more
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Investor Day 2025 │ Therapeutic areas that use our delivery systems in nasal, inhalation, ophthalmic and dermal continue to expand Building Blocks for Growth for Proprietary Drug Delivery Systems Growing Applications for PDDS Application Fields for PDDS Continue to Expand Emergency Medicine / CNS / Pain Management Nose-to-Brain Local Delivery Targeting Inflammation Eye Care 54 Allergy Asthma/COPD Dermal Drug Delivery Migraine Nasal Saline Nasal Decongestion Past (Commercial Launches) Present (Commercial Launches) Allergy Asthma/COPD Dermal Drug Delivery Migraine Nasal Saline Nasal Decongestion Emergency Medicine / CNS / Pain Management Eye Care Nose-to-Brain NextGen Propellants Biologics / Powders / Vaccines Allergy Asthma/COPD Dermal Drug Delivery Migraine Nasal Saline Nasal Decongestion Future (Commercial Launches) Emergency Medicine / CNS / Pain Management Eye Care
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Investor Day 2025 │ 55 • Nasal mucosa offers an alternative pathway to the brain that bypasses the Blood Brain Barrier with targeted delivery to site of action • Potential to open new therapeutic areas and new molecules to nasal administration • Highly attractive therapeutic areas fall within this pathway − Neurodegenerative diseases or Psychiatric conditions e.g. Alzheimer’s, Parkinson’s, depression • Biologics and complex molecules are showing early promising results with antivirals, monoclonal antibodies, and peptides (GLP-1s) • We've partnered with Wake Forest School of Medicine on a groundbreaking study confirming that intranasal insulin— delivered through a one of our proprietary nasal drug delivery systems —safely reaches 11 critical brain regions tied to memory in older adults Nasal delivery can be used for almost any sized molecule It’s not just for small molecules anymore Cerebrum Olfactory Bulb Olfactory Nerves Brain Stem Trigeminal Nerves Drug Formulation Nose-to-Brain Drug Delivery Fueling Our Long-Term Growth
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Investor Day 2025 │ 56 Prohaler® BAI New Product Technology Platforms Aptar Pharma Solution Proven strength in precision dosing and dispensing technologies for global pharma markets Delivery Route Quattrii Dry Powder Inhaler Platform SipNose Nasal Delivery System Kolibri Non-Propellant Liquid Inhaler Platform® Dry Powder Inhaler (DPI) Orbital Driving Future Growth Through Innovative Proprietary Drug Delivery Systems Across Diverse Therapeutic End-Markets Futurity Micro+ Futurity
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Investor Day 2025 │ 57 Video Credit: @Haleon on TikTok Innovation –Led Launches Drive Future Growth Aptar’s new Lateral Control System (LCS) launched in the U.S. and Europe (2025) Aptar’s Ophthalmic Squeeze Dispensing (OSD)Technology, Preservative-Free Multidose System One of Aptar’s OSD is equal to 30 Blow-Fill-Seal (BFS) vials.
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Investor Day 2025 │ 58 Innovation–Led Launches Drive Future Growth One of Aptar Pharma‘s latest innovations, the APF Futurity pump, is the first completely recyclable nasal spray pump for preservative free applications on the market Aptar Pharma's PureHale® technology platform, a nebulizer- like technology which creates a portable, non-electronic, battery- free system for dispensing a fine mist to target the upper respiratory tract Our Futurity platform features sustainable solutions across multiple delivery routes to improve circularity through recyclability
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Investor Day 2025 │ Our IP, know-how and expertise is embedded into our customer’s regulatory filing Our Robust Drug Master File (DMF) Submission Services Support Our Customer’s Regulatory Filings Support IND / BLA / NDA / ANDA U.S. Combination Product Device & Formulation Dev. Clinical Trials Regulatory Filings Market Launch & Post-Launch Lifecycle management: maintain the master file Customer references the Master File Master file submitted to the FDA ↓ Letter of Authorization to Pharma customer DMF File Investigational New Drug Application (IND) File New Drug Application (NDA) 59
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Investor Day 2025 │ Regulatory Expertise - Life Saving Product Requirements • In 2020, the FDA issued Technical Considerations for Demonstrating Reliability of Emergency-Use Injectors Submitted under a BLA, NDA, or ANDA: Guidance for Industry and FDA Staff • This guidance also applies to intranasal sprays used for emergency treatment of conditions such as anaphylaxis, opioid overdose, poisoning, or severe hypoglycemia • Applicants must demonstrate that the device can meet a reliability target of 99.999% with a 95% level of confidence or a 1:100,000 failure frequency Our nasal delivery technology stands alone in its proven reliability 60 We are the only company that has demonstrated this capability with real-world evidence
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Investor Day 2025 │ Depression Addiction Bipolar Disorders Areas of Development in Our Pipeline Oncology Neurological Disorders Neurodegeneration Mental HealthCardiovascular Vaccine & Antiviral Eye Diseases Traumatic Injury Metabolism Musculoskeletal Molecules Obesity Diabetes Muscular Dystrophy Creatine Deficiency ALS Glioblastoma Breast Cancer Brain Cancer Meningioma Autism Spectrum Sleep Disorders Prader-Willi Alzheimer’s Dementia Parkinson’s Huntington Multiple Sclerosis Aging Traumatic Brain Injury Newborn Brain Damage Spinal Cord Injury Stroke / Heart Failure Cardiac Arrhythmia Dry Eye Glaucoma COVID-19 RSV Influenza Universal Flu mAbs / mRNA ADHD PTSD / Anxiety Schizophrenia 61
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Pharma Divisions 63 Gael Touya, President, Aptar Pharma
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Investor Day 2025 │ Injectable Solutions & Components • Biologics / GLP-1 • Vaccines • Small Molecules The demand for elastomeric components used with injectable medications is increasing, fueled by the rising demand for biologics 17% Injectable Solutions and Components Proprietary Drug Delivery Systems1 Active Material Science Solutions FY 2024 % of Pharma Segment Sales 1: Proprietary Drug Delivery Systems includes Prescription, Consumer Healthcare, and Digital Health Markets. Shaping the Future of Injectables, Together with our Pharma Partners • Antithrombotics • Animal Health Application Fields 64
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Investor Day 2025 │ Positioned to grow where the market is growing Strategic Growth in Injectables • ~$240M+ Capital Investment: Enabled scale in capabilities and product offerings aligned with market growth • Focus on Higher-Value Products: Manufacturing at scale to meet rising demand • Strategic Acquisition and Footprint Expansion: o Acquired a plant in China o Expanded footprint in France o Created manufacturing footprint in the United States Our Investment is Fueling Our Future Growth • Over the next 5 years, we expect biologic projects to remain our primary growth driver • We expect that Ready-to-Use, PremiumFill® and Rapid-Transfer Port Bags which support compliance with Annex 1 will also contribute strong growth • 1H 25 GLP-1 revenue on par with FY 24 revenue 65 Enhanced Capabilities in France, U.S. and China Expanded Capabilities: Broader technical and manufacturing competencies Digitalization: Leveraging data and connectivity for smarter operations Automation & Robotics: Boosting quality and efficiency through advanced technologies State-of-the-Art Manufacturing: Purpose-built manufacturing plants for consistent excellence Next Generation Mixing Capabilities: Precision and consistency in formulation Sustainability Initiatives: Exploring new material and low carbon footprint elastomeric solutions In 2024, 60% of all new drugs were injectables and 54% of those were biologics1 1: Pharmacircle, in 2024 .
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Investor Day 2025 │ Packaging and protecting sensitive molecules Enabling self-administration (e.g. GLP-1) Commercialized Higher Value Products and Solutions with Capital Projects to Meet Growing Customer Needs Biologics Biotech and Vaccines Small MoleculesPharma Minimize total cost of ownership Vial-to-prefilled syringe life cycle management Optimized operations Wide variety of formats and administrations needs Higher Value Products & Solutions PremiumCoat® ETFE film-coated vial stoppers and PFS plungers PremiumFill® Cleaner, lower particulate specs for vial stoppers and PFS plungers Ready-to-Use (RTU) Gamma sterilized components Rigid Needle Shields Designs and formulations fit for use Regulatory Compliance (Annex 1): Contamination control and sterility assurance Areas of Growth 66
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Investor Day 2025 │ Key Growth Drivers for Injectables Enhanced global manufacturing network with new capacity brought online in early 2025 Increased regulatory requirements like Annex 1 expected to propel growth for higher value products Increased Revenue Generation Margin Expansion Growth of Biologics / GLP-11 Margin expansion fueled by revenue growth of Higher Value Products & Solutions Typically Used for Biologics and GLP-1 1 42% 2022-2024 Revenue growth Continued to improve operational leverage through automation, operational effectiveness and quality 50%+ 2022-2024 Revenue growth 671: Excluding Vaccines.
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Investor Day 2025 │ Active Material Science Solutions • Diabetes Care • Oral Solid Dose • Dermal Drug Delivery Aptar CSP stands as our largest acquisition to date, delivering a robust compound annual growth rate of 10% in revenue since its acquisition in 2018 11% Active Material Science SolutionsInjectable Solutions and Components Proprietary Drug Delivery Systems 1 FY 2024 % of Pharma Segment Sales 1: Proprietary Drug Delivery Systems includes Prescription, Consumer Healthcare, and Digital Health Markets. • Diagnostics • Probiotics / Nutraceuticals • Medical Device and Implants Application Fields 68
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Investor Day 2025 │ Active Material Science Solutions ActivShield Sterilization Innovation Activ-Blister Oral GLP-1 / Peptides N-Sorb Technology (impurities) Status: • Pending 510(k) medical device approval expected in 2H 2026 Status: • Robust pipeline with lead candidate in Phase 3 clinical trial (China and U.S.) Status: • Strong global pipeline with lead drug product candidates under FDA review Portable, power-free, sterilization solution to replace EtO and serve rural communities / remote areas Single material and dual-active material maintains stability of sensitive drugs, specifically GLP-1 and other peptides Only active packaging solution to mitigate nitrosamine risk for regulatory compliance Dual Active Material GLP-1 / Peptide Drug Growth Fueled by Regional Expansion and Innovation 69
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Investor Day 2025 │ Digital Health Expands our Position as the Go-To Pharma Partner, Connecting our Pharma Customer Closer to Patients Advancements in healthcare are rapidly accelerating; remote patient engagement and monitoring, whether for clinical trials or real-world treatments are poised to play a pivotal role in the future Software Applications Connected Devices Solutions across Therapeutic Areas Operating globally Industry-leading portfolio of pharma collaborations Proprietary assets Improving Patient Outcomes • Enhance treatment experience • Improve quality of life • Optimize therapy and retention • Better clinical & economic outcomes • Streamline patient care • Provide actionable data for all stakeholders Oncology Neurology Diabetes Rare Diseases Respiratory Immunology Cardiovascular North America Europe APAC LATAM Software & Hardware Platforms Certified QMS Regulatory Clearances Clinical Evidence 70 Patient Engagement Solutions Supporting 4+ million Users in 120+ Countries 4+ million Users Across Therapeutic Areas and Countries
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Investor Day 2025 │ 7-11% Core Sales Growth1 32-36% Adjusted EBITDA Margin1 Long-Term Targets – Aptar Pharma Focused on Growing Proprietary, High-Value Precision Dispensing Systems Competitive Advantages: Technological and Innovation Leader High Return Strategic Investments Improve Operating Leverage A Leader in ESG Serving Attractive Global End Markets Regulatory and End User Expertise Building Blocks for Growth: Strong and Growing Pipeline High-Value Products and Solutions in Injectables Address Fastest Growing Market Needs Robust and Diverse Product Portfolio Our Services Accelerate and Derisk our Pipeline Converting Drugs to New Delivery Routes, Lifecycle Extension and Comprehensive Lifecycle Management Strategy Digital and Patient Engagement is Opening New Avenues for Growth and Aligns with Pharma C-Suite Strategic Priorities 711: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions
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Aptar Beauty Marc Prieur, President, Aptar Beauty
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Investor Day 2025 │ Aptar Beauty: At a Glance FY 2024 1H 2025 Core Sales Growth %1 -3% -1% Adjusted EBITDA Margin %1 13.0% 13.1% % of Total Revenue 34% 35% % of Total Adjusted EBITDA1 19% 19% 61% 35% 4% $1.2B in revenue Fragrance, Facial Skincare and Color Cosmetics Personal Care Home Care FY 2024 % of Beauty Segment Sales Sales By Region (FY 2024 by Ship To Destination) 7% 61%19% 13% A significant amount of Europe sales end up in Asia and U.S. 73 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ Lipsticks Refill Devices Sampling and Trial Sizes Turnkey Solutions Aptar Beauty: Technology Portfolio Spray Pumps Fragrance Pumps Spray Pumps Dispensing Pumps Cosmetic Pumps Airless Systems Aerosol Valves, BOV and Accessories Droppers Custom 74
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Investor Day 2025 │ Aptar Beauty: Services & Capabilities Creating Value for Our Customers Metal Sourcing and Transformation Consumer Insights and Customer Ideation Simulation and Prototyping / Fast Iterations Formulation Expertise and Compatibility Support E-Commerce Durability Testing and Solution Design Decoration and Premiumization Sustainability and Material Science 75 User Experience Expertise and Design
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Investor Day 2025 │ 25% 21% 18% 11% 11% 6% 6% 2% Strategically Positioned to Serve Growing and Emerging Markets with Innovative, Custom and Sustainable Solutions 1: Source: Aptar Packaging Market Estimates (Triangulation of Packaging market studies from Global Market Insights, Grand View R esearch, Market Research Future, Fortune Business Insights and Future Market Insights) Facial Skincare Robust market growth, longevity, derma Growing positions with airless, cosmetic pumps and new dispensing formats such as derma Hair Care Robust market growth and move to premiumization Continue to grow market position, with a focus on sustainable solutions Fragrance Robust market position in prestige and masstige Color Cosmetics Volatile and fragmented market Focus on liquid foundation Personal Cleansing Trend for therapeutic claims Body Care Trend for derma and premiumization Develop strong position further with recyclable lotion pumps Deodorant Trend for all-over scents Sun Care Growing consumer need / concern Formula compatible solutions $38B Total Addressable Market1 76 Beauty Packaging Market
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Investor Day 2025 │ Beauty Future Growth Drivers Brands will need to create real value from product differentiation Sustainable solutions without compromise on quality Mono-material solutions Raw material compliance New refill / reload experiences Bringing together beauty and pharma capabilities Formula compatibility expertise Regulatory support Digital health Precision dispensing platforms and agile customization ecosystem Iconic and nomadic experiences Emotional benefits, sensorial cues Energy-based dispensing (devices) The best of packaging dispensing solutions for all Inclusive / ergonomic designs Broad range of dispensing solutions Local-for-local manufacturing Dermocosmetics PersonalizationSustainability Inclusive • Self-care, health, wellness • Advanced formula protection • Data-driven customization • High precision dosing • Designed for recyclability • Circular solutions • For all attitudes and abilities • From entry-level to exclusive Aptar’s Ability to Win 77
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Investor Day 2025 │ Beauty Retail Market Remains Resilient Beauty Retail Market 2024-20291 +4.4% Avg CAGR 2024 2029 Post-COVID growth is back at +4-5%, with focus shifting to consumer experience, innovation, and market segmentation • LATAM, India, SEA, MEA: Rapid growth from urbanization and rising middle class • Europe: Steady growth via heritage brands and sustainability • North America: Driven by premiumization, indie brands and digital retail • China: Rebounding, local brands now about half the market in revenue • Personal Care, Fragrance, and Facial Skincare lead via multifunctional, wellness, and sensorial innovation • Inclusive and sustainable design shapes products, packaging and brand strategy Prestige & Niche Premium & Masstige Indies & Dupes Mass & Private Labels $ $$$ Body & Skincare +5.4% CAGR Facial Skincare +4.2% CAGR Hair Care +5.3% CAGR Fragrance +5.1% CAGR Suncare +5.0% CAGR 781: Source: Aptar Internal Estimates (triangulation of Euromonitor, Circana, NielsenIQ, Public Company filings and other industry public FY2024 data), based on industry retail market.
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Investor Day 2025 │ Prestige Fragrance Overview Retail Market Units vs Packaging Market Units 2022 2023 2024 Prestige Fragrance Pump Volumes1 (M Units) Retail Sales Packaging Sales 1: Source: Retail & Packaging Market (triangulation of Euromonitor, NPD, Nielsen, public company filings and other industry publ ic FY 2024 data), and Aptar Internal Estimates Aptar Beauty delivered strong performance in both 2022 and 2023 • We expected a prestige fragrance packaging unit rebound in 2025; timing was delayed due to tariff concerns • Customers are currently operating with very low inventory levels • Packaging sales outpaced retail sales as brands launched new products post-COVID • Industry packaging units for 2022 and 2023 outpaced retail sales by 20% 79
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Investor Day 2025 │ Covid-19 2022 2023 2024 Beauty Adjusted EBITDA Margin3 % FY 2020 FY 2023 FY 2024FY 2021 FY 2022 Operational Efficiency and Cost Management Adjusted EBITDA Revenue Benefits of Increased Productivity Actions Since 2019 Social Plan in EMEA Destocking Cost Reduction and SG&A Focus • Reduced plant count by 101 and workforce by 11%2 • Re-structured North America and EMEA • Shifted headcount to Global Talent Centers in lower-cost regions: U.S. → Mexico, Western EU → Eastern EU • Cost-out actions on track for 2025 • Driving higher efficiency and plant utilization through continuous improvement • Investing in automation and technical upgrades • Strengthening supply chain and procurement • Leveraging IT systems and data Re-focused Product Portfolio – R&D Efficiency • Leaner R&D organization focused on growth • Improved go-to-market effectiveness • More selective greenlighting and resource allocation • Reduced SKU complexity – NA pilot cut valve SKUs complexity by 35% (2022–2024), rolling out to other regions 80 1: 2020 – 2024 2: 2022 – 2024 3: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ Capitalizing on Our Strengths to Drive Growth Continue to Focus on Growing while Protecting the Core Leverage Strength as a Dispensing Innovator and End-User Expert Lead in dispensing technology and innovation. Build a strong, sustainable innovation pipeline to drive growth and sales Streamline and Optimize Go-to-Market Approach Enhance efficiency and focus within dispensing portfolio strategies Prioritize Cost Management and Excellence in Execution Ensure operational efficiency and financial discipline for sustained success Strengthen approach Expand into adjacencies, new customer segments and geographies by leveraging existing services and technologies • Geographical adjacencies (India, Southeast Asia, Middle East and other emerging markets) • Build stronger partnerships with fillers, distributors and mid-sized companies, the faster growing more profitable part of the market, today representing about 45% • Refocus customization offerings - more competitive with a faster go-to-market approach, leveraging infrastructure in Asia • Capitalize on Pharma and Beauty synergies to accelerate into thedermocosmetic space 81
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Investor Day 2025 │ Our Vertically-Integrated Ecosystem Strategic Expansion in China and Asia Select tuck-in acquisitions to add capabilities and improve profitability • China ecosystem advantages: • Well-positioned to meet rising demand from Asia’s growing middle class, driving profitable growth • Access to suppliers for molds, machines, metal sourcing, stamping, and anodization • Leverage for innovation and faster, cost-effective development • China-for-China and China-for Asia, and for specialty projects prestige beauty provides global technical and quality support • Expanding JV with BTY acquisition adds custom decoration capabilities, supports French manufacturing • JV with Goldrain enhances regional pump manufacturing, increases go-to- market speed, and creates a vertically integrated local supply chain • JV also provides cross-segment access to mold and machine building, anodization and supports consumer healthcare dispensing systems • JVs will be accretive to EPS this year Nomad Refill, (Customer Launch in 2026) Glass Vial: Sourced in China through BTY Connector: Manufactured by BTY Pump: Le Neubourg, FR Assembly + Filling: Verneuil, FR Custom Casing: Oyonnax, FR Gucci, Flora Pump: Le Neubourg, FR Aluminum collar + Cap: Annecy / Chavanod (double sourcing with China, BTY) Insert injection + assembly: Oyonnax, FR R&B Beauty, Bella Blossom Body Mist Goldrain fragrance pump that enables us to penetrate the Indian fragrance market through several brands Highly specialized, interconnected, multi-site operations 82
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Investor Day 2025 │ 3-6% Core Sales Growth1 15-17% Adjusted EBITDA Margin1 Long-Term Targets – Aptar Beauty Improving Operating Leverage Competitive Advantages: Technological and Innovation Leader High Return Strategic Investments Improve Operating Leverage A Leader in ESG Serving Attractive Global End Markets Regulatory and End User Expertise Building Blocks for Growth: Drive Cost Reduction and Operational Efficiency Enhancing adjusted EBITDA margin through disciplined cost management and streamlined operations Accelerate Top-Line Growth Expand our customer base to fuel sustainable revenue growth. Anticipate a rebound in our prestige fragrance dispensing Leverage China Ecosystem Speed up time-to-market and deliver more competitive, customized offerings across Asia Focus on Targeted Innovation Prioritize innovation that aligns with customer needs and market opportunities 831: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions
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Aptar Closures Hedi Tlili, President, Aptar Closures
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Investor Day 2025 │ Aptar Closures – At a Glance FY 2024 1H 2025 Core Sales Growth %2 3% 3% Adjusted EBITDA Margin %2 16.0% 16.4% % of Total Revenue 20% 19% % of Total Adjusted EBITDA2 14% 13% 53% 21% 19% 7% $700M in revenue FoodPersonal Care Other1 FY 2024 % of Closures Segment Sales Sales By Region (FY 2024 by Ship To Destination) 9% 30%49% 12% Beverage 1: Other includes Beauty, Home Care and Healthcare Markets 2: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation 85
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Investor Day 2025 │ Sport Caps Flexible Fitments Closures Sustainability / E-Commerce Durability Wide Mouth Snap Tops Aptar Closures Technology Portfolio Tube Tops Disc Tops Inverted Tops Directional Dispensing Active Material Science Flow Control Safety / Dosing Cap Child-Resistant / Healthcare 86
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Investor Day 2025 │ Consumer Insights – Customer Needs 87 Aptar Closures: Services & Capabilities Creating Value for our Customers Life-Cycle Assessments / Durability Support Research and Development Customization and Differentiation World-Class Manufacturing Capabilities Technical Support Regulatory Support Sustainability and Material Science
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Investor Day 2025 │ Closures Packaging Market 26% 23%27% 13% 12% Innovative Leader with Broad Global Reach 1: Source Euromonitor 2024 with Aptar triangulation (Addressable Market: Rigid Plastic and Flexible with Dispensing Closures) 2: Source: Future Market Insights, excluding Active Packaging Beverage Established and strong position in sports cap market Food Established and strong position in sauces & condiments Growing in other markets such as Asian sauces, oil and food service Personal Care Established and strong position in body and hair care Home Care Established and expanding in premium dispensing solutions Wellness and Healthcare 2 Strong growth potential ~$6.8B Total Addressable Market1 88
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Investor Day 2025 │ Addressable Market vs. Aptar Growth1 (Unit Sales) Consistently Outperforming the Market 3.1% 0.9% 2.3% 3.1% CAGR 2021-24 CAGR 2024-29 2.2% 3.2% -1.3% 1.5% 18 16 36 33 2021 17 17 37 36 2024 18 19 40 41 2029 NA LATAM EMEA Asia 102 107 118 +1.5% +2.6% Addressable Market Evolution by Region2 (B Units) 1: Euromonitor Addressable Market / Unit Sales; Aptar Internal Data, F&B, Closures excl. Flat Cap 2: Euromonitor Addressable Market: Rigid Plastic + Flexible with Dispensing Closures In North America, growth is especially driven by food and beverage, these categories are expected to perform at about 2% In LATAM, all markets expected to grow above 3% CAGR, especially Personal Care / Beauty In EMEA, Food is expected to grow above average, especially driven by flexible packaging. While Beverage is driving growth in rigid plastic packaging, with strong performance in the Middle East In Asia, all markets are expected to grow, especially Food and Home Care 89 Total Addressable Market Aptar Food & Beverage +3.5% 2021-2024 +6.0% • Aptar's proven success in Food and Beverage demonstrates our ability to outperform the market • We will leverage this same roadmap to drive growth across end markets
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Investor Day 2025 │ How we Intend to Continue Growing Faster than the Market 2023 2025F 2029F Machine Capacity Utilization (MCU) Performance (OEE) 56% ~66% 74% ~77% Utilization and Performance Innovation-Led Growth in Food and Beverage • Unlocking new revenue streams through evolving applications • Advancing beverage packaging through innovation to drive differentiation and premiumization Momentum in Home and Personal Care • Driving recovery and share gains via new launches and innovative formats • Delivering custom solutions in hair and skincare to meet diverse consumer needs Regional Growth Tailwinds • North America: Growth through new innovations and custom conversions in food, personal and home care • EMEA: Expansion driven by sustainable solutions (e.g., beverage) and new market penetration • Latin America: Continued growth in food and beverage and increased conversions in personal and home care • Asia: Strong demand in sauces, instant mixing drink formats, and home care Operational Excellence & Cost Management • Margin-led growth through: • Deep customer partnerships, customer segmentation and sales force effectiveness • Manufacturing efficiencies and increase operational leverage • Disciplined cost control and productivity improvements • Innovation leadership that creates a higher-value mix while managing input costs 2022 2023 2024 Closures Adjusted EBITDA Margin1 % 901: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ 91 Innovation Spotlight – Heinz Ketchup CONSUMERS WILL PAY MORE FOR A BETTER USER EXPERIENCE: 30.5% increase in price/oz from 38oz upright to 32oz inverted with higher value closure1 Higher-Value Aptar SolutionPrior Solution Next-Gen Higher- Value Aptar Solution Heinz maintains market leadership in this category 2 1: Pricing from Walmart.com, September 2025 2: Nielsen B&M, US, T. Packaging Shape and Material Disrupting Categories | Improving Consumer Experience | Increasing Brand Loyalty | Shaping the Future
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Investor Day 2025 │ CONSUMERS WILL PAY MORE FOR A BETTER USER EXPERIENCE: The flexible pouch enjoys +23.6% price per oz over the tub1 Innovation Spotlight – Daisy Sour Cream 1: IRI Data Total US – Multi Outlet From Daisy pouch launch July 2015 and year end 2017 Of Daisy’s growth1, 61% came from Aptar’s inverted pouch format 61% Daisy's share position improved from 44% to 55%1 92 Disrupting Categories | Improving Consumer Experience | Increasing Brand Loyalty | Shaping the Future Higher-Value Aptar SolutionPrior Solution
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Investor Day 2025 │ CONSUMERS WILL PAY MORE FOR A BETTER USER EXPERIENCE: 25% price premium increase from 700g to 590g bottle with Aptar’s Higher Value Dispensing Closure1 93 Innovation Spotlight – Oyster Sauce Higher-Value Aptar SolutionPrior Solution Disrupting Categories | Improving Consumer Experience | Increasing Brand Loyalty | Shaping the Future 1: Pricing from JD.com (a major Chinese e-commerce company) September 2025
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Investor Day 2025 │ Innovation Spotlight – Inverted Lidless Dish Soap Aptar Innovation Spray and Core Solution Dishwashing Company Dollar Share of Manual Dish Detergent1 1: 2024_2023 CPG Growth Leaders-April Circana 2: Pricing from Walmart.com, September 2025 Higher-Value Aptar Solution Prior Solution Evolution from an upright traditional pour spout to lidless, inverted flow control, higher-value closure providing: • Quick, ready-to-use, and one-handed solution • Leak-free solution guaranteed by a valve • New gesture with a practical dosing • Convenient dispensing right down to the last drop • Premium share growth1 from benefits valued by consumers 2019 2020 2021 2022 2023 94 Disrupting Categories | Improving Consumer Experience | Increasing Brand Loyalty | Shaping the Future CONSUMERS WILL PAY MORE FOR A BETTER USER EXPERIENCE: inverted dish soap has a +9.8% per oz premium vs upright packs2
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Investor Day 2025 │ 95 Innovation Spotlight – Salad Dressing Higher-Value Aptar SolutionPrior Solution CONSUMERS WILL PAY MORE FOR A BETTER USER EXPERIENCE: A 12.1% increase in price/ounce using 36oz upright and 24oz inverted.1 The conversion helped the customer increase sales by 5%2 1: Pricing from Walmart.com, September 2025 2: Nielsen B&M, US, T. Packaging Shape and Material, for 2024 Disrupting Categories | Improving Consumer Experience | Increasing Brand Loyalty | Shaping the Future
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Investor Day 2025 │ 96 Closures’ Innovations and Capabilities Solve Customers’ Problems Through a robust, repeatable development process, we are building an innovation powerhouse with currently ~220 focused development projects (+49% vs Q2 2023) serving all our markets Our innovation strategy leverages insights, design and technology to create novel solutions that fuel profitable growth in all our markets Market Needs Aptar’s Solutions Sustainable / Mono-material Inclusive DesignFlow Control Durability / E-Commerce Capable Tamper Evidence / Sealing Light Weighting PCR Capable Regulatory Compliance Refillable Solutions Clean Experience Enhanced Dosing Different Dispensing Gestures Liner-less Premium Pack Child- Resistant / Senior- Friendly Cost Reduction Amazon ISTA - 6
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Investor Day 2025 │ Long-Term Targets – Aptar Closures Competitive Advantages: Technological and Innovation Leader High Return Strategic Investments Improve Operating Leverage A Leader in ESG Serving Attractive Global End Markets Regulatory and End User Expertise Building Blocks for Growth: Operational Efficiency Continue to focus on improving plant utilization and performance Regional Growth Selectively enter new regions with growing middle class and need for more convenient packaging solutions Focused Innovation / Category Conversion Leverage our robust pipeline to drive top-line growth and continue to outperform the market Utilize IP to Expand to New End Markets 4-7% Core Sales Growth1 16-18% Adjusted EBITDA Margin1 Improving Operating Leverage 971: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions
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98 Financial Update Vanessa Kanu, EVP & Chief Financial Officer
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Investor Day 2025 │ My Priorities Focused priorities tied to growing long-term returns • Revenue growth • EPS growth faster than revenue growth • Cost management across the P&L • Efficiency in both operating and capital expenditures • Healthy and optimized FCF generation • Disciplined capital allocation and ROIC1 • Prioritizing higher-return capital investments • Balance sheet strength and liquidity management 991: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ Well-Positioned for Long-Term Revenue Growth 100 Closures $7B • Aptar plays in large and growing TAMs • Projections for market growth should support long-term revenue growth • Focused execution and driving the right investment mix will drive revenue growth at or above the market • Highly diversified model, with no single product or geography driving long-term growth Long-Term Market Projected Growth Rates Pharma ~7% Beauty ~4% Closures ~2% Pharma $165B Beauty $38B Total Addressable Market Across Aptar’s Growing End Markets1 1: See segment slides for sources of TAMs
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Investor Day 2025 │ Aptar’s Value Creation Framework Focused on Cost Management and Operational Leverage 101
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Investor Day 2025 │ EPS Growth Faster Than Revenue Growth Revenue Growth + Mix + Cost Optimization Across All Fronts to Drive Ongoing EPS Growth 102 8% 49% Reported Sales Growth Adjusted EPS Growth 2022-2024 2% 8% Reported Sales Growth Adjusted EPS Growth 1H 2025 Reported Sales Growth vs Adjusted EPS Growth1 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ 103 ~$110M in Cost Savings 2025 cost saving initiatives are on track Beauty Closures Pharma Corp Total SG&A savings ~$50M COS Labor savings ~$60M Beauty Closures Pharma Corp Total • Aptar has delivered ~$110M of structural cost savings — a tangible result of disciplined execution across the enterprise • Approximately $50M came from SG&A optimization, achieved through organizational streamlining, shared services, and overhead reduction • Approximately $60M was driven by labor productivity, through automation, footprint rationalization, and process efficiency initiatives • These savings were structural, not one-time — creating a leaner cost base and greater scalability as the company grows • As a result, Aptar has lowered its cost intensity: • SG&A as a percent of sales has trended down after years of pressure • COS labor as a percent of sales has improved through systematic productivity programs • Total controllable fixed costs have grown at less than half the rate of sales, underscoring stronger operational leverage Cost Savings 2022 - 1H 2025
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Investor Day 2025 │ 1H 2024 1H 2025 Focused on Improving Productivity 104 2022 2024 2022 2024 1H 2024 1H 2025 Continue to focus on our productivity and discipline to enable growth Better-Cost Country Headcount Evolution 2024 1H 2025 75%80% 20% 25% Reported Sales Growth Headcount Growth +2%+8% Flat Flat Driving productivity while maintaining in region for region focus
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Investor Day 2025 │ Margin Improvement Over Time 105 35.0% 37.8% 2022 2024 Gross Margin % 37.0% 38.0% 1H 2024 1H 2025 Gross Margin % 18.6% 21.6% 2022 2024 Adjusted EBITDA Margin %1 20.4% 21.7% 1H 2024 1H 2025 Adjusted EBITDA Margin %1 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ 106 Long-Term Adjusted EBITDA Margin1 Expansion Drivers Volume Growth: • Benefits from better asset and overhead utilization through better absorption of fixed cost • Enhanced operational leverage through scaled production and optimized workflows Revenue Mix: • Driven by both segment and product mix improvements • Product mix driven by a greater share of proprietary drug delivery systems, biologics, and premium dispensing solutions across Pharma, Beauty and Closures Operating Efficiencies: • Productivity benefits from footprint rationalization, investments in automation manufacturing technology (AI), energy efficiency and continuous improvement • Strategic shift to better-cost countries while maintaining in-region-for-region strategy Operating Leverage: • Leveraging and driving efficiencies in our SGA structure while supporting a growing topline • Centralized support functions, application of best practices, investments in process automation and global talent centers improve cost ratios and responsiveness Sustained Performance Improvements: • Not one-off benefits; improvements reflect a fundamental transformation in our portfolio and operations, underpinned by long-term goals and strategic investments • Automation, footprint optimization, and talent integration to drive lasting impact 21.7% ~23% 1H 2025 Volume Growth Revenue Mix Operating Efficiencies Operating Leverage Long-Term Margin trajectory is the result of deliberate strategic actions – from mix optimization to cost discipline, Aptar is structurally positioned to sustain and expand margins over time 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ Aptar’s Value Creation Framework Strong Balance Sheet that Provides Optionality 107
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Investor Day 2025 │ Disciplined Capital Investments to Drive Future Growth 108 • Major capital projects are largely complete at this stage – infrastructure optimized for scalable growth and ROIC improvement • Current facilities provide the necessary square footage to support operations • Near-term capacity expansions will focus on adding production lines • Incremental investments offer shorter return horizons compared to large- scale plant builds 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 2021 2022 2023 2024 H1 2025 Capital Intensity (CapEx as % of Revenue) Capital Intensity (CapEx as % of Revenue) Long-Term CapEx Intensity 7-9% Pharma HSD-LDD Beauty MSD+ Closures MSD+
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Investor Day 2025 │ Strong Free Cash Flow (FCF)1 Generation FCF1 should improve as earnings grow long term, capital intensity moderates and we drive other cash initiatives 1091: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation Adjusted EBITDA1 80% Adjusted EBITDA1 OCF Conversion Less CapEx FCF1 Improvements FCF1 40-50% of Adjusted EBITDA1 Free Cash Flow1 21-23%
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Investor Day 2025 │ Responsible Capital Stewardship 7% 8% 9% 10% 11% 12% 13% 2022 2023 2024 Weighted Average Cost of Capital Return on Invested Capital Our Capital Allocation Strategy is Focused on Generating Shareholder Value Consistent Dividend Growth Historically dividend target payout ratios of 30-40% of Adjusted EPS2 Share Repurchases Most discretionary capital allocation lever ~30% of Capital Returned to Shareholders Through Dividends and Share Repurchases Organic Growth and Reinvestment ~70% of capital reinvested into core business operations and growth initiatives, the majority of which is allocated to pharma M&A $1.1B in tuck-in investments, the majority of which allocated to pharma 1 Driving Growth through Reinvestment and Strategic M&A Return on Invested Capital 40% Increase on Return on Invested Capital2 1: Tuck-in acquisitions from 2017-2025 2: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation 110 2
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Investor Day 2025 │ 111 Disciplined M&A Across All Segments, Driving Profitable Growth, Strengthening Leadership Disciplined M&A to maintain leadership and create long-term shareholder value across all segments Strategic Priorities Financial Priorities Strengthen Core Businesses Maintain leadership in core businesses, focus on Pharma Expand into High-Growth Adjacencies Pursue opportunities in healthcare, beauty science, and sustainability Accelerate Geographic Expansion Grow in high potential emerging markets with in-region, for-region platforms Secure Future-Ready Platforms Access enabling platforms and services in digital, advanced materials, and sustainability • Accretive within 3 years ROIC 1 ≥ WACC including synergies • EPS Accretive in Year 1 No dilution tolerance • Synergies with Discipline Track and drive execution • Proven integration playbook Clear accountability and execution roadmaps 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation
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Investor Day 2025 │ $159 $155 $116 $399 $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 2025 2026 2027 2028 2029 Thereafter Long-Term Debt Maturities 112 Strong Balance Sheet with Ample Available Liquidity1 Low leverage with ~$1.9B of liquidity and borrowing capacity Low Debt Leverage • Total Debt at 1H 2025 $1.1B ‒ Leverage 1.2x as of June 30, 2025 ‒ Long-Term Leverage Corridor 1-3x ‒ Average Interest Rate 4.00% (fixed 63% / floating 37%) Investment Grade • Investment Grade Rated (Moody’s Baa2 (Stable), S&P BBB- (Positive), Fitch BBB (Stable)) • In Q1 2025 – Moody’s upgraded rating to “Baa2 (Stable)” and S&P upgraded to “Positive” watch Ample Liquidity • Additional Borrowing Capacity ~$1.9B ‒ Based upon Debt to EBITDA covenant of 3.5x (currently 1.2x) • Ample Short-Term liquidity ‒ Cash and Equivalents at 1H 2025 $161.7M ‒ Revolving Credit Facility Capacity $600M ($264.6M borrowed at 1H 2025) ‒ Near-term maturities will be refinanced 1: All data is as of 1H 2025, unless otherwise indicated. 2: Financial Covenants are calculated per the Credit Agreements.
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Investor Day 2025 │ Consistent Long-Term Targets Aptar 2025 Investor Day Long-Term Targets Core Sales Growth1 4-7% Adjusted EBITDA Margin1 21-23% ROIC1 12-14% Dividend Payout Ratio1 30-40% Leverage Corridor 1-3X Aptar Pharma Core Sales Growth1 7-11% Adjusted EBITDA Margin1 32-36% Aptar Beauty Core Sales Growth1 3-6% Adjusted EBITDA Margin1 15-17% Aptar Closures Core Sales Growth1 4-7% Adjusted EBITDA Margin1 16-18% 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation 113 Key Drivers Core Sales: Pharma maintains its position as a durable growth driver, with consumer-focused segments delivering increasingly consistent performance—top line growth through innovation, pipeline conversion, drug lifecycle management and regional expansion EBITDA Margin Improvement: Driven by a higher-value product mix— especially proprietary drug delivery systems, injectables, and premium dispensing solutions—alongside operational efficiencies, strategic cost management, and strong segment contributions supported by long-term investments and sustainable portfolio shifts ROIC: The completion of key capital projects positions us to drive stronger ROIC over the long-term through increased efficiency and revenue generation Dividend: • On Sept 8th we announced an increase to our annual dividend of nearly 7%, after an almost 10% increase last year • Annual dividend of $1.92 / share, $0.48 / quarter
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Investor Day 2025 │ Active in Growing End Markets, with a Leading Position in Key Categories Aptar’s Value Creation Framework – Long Term Targets Long-Term Targets Technology, Innovation and Sustainability Leader Enhancing Value Through Strategic Capital Allocation Focused on Cost Management and Operational Leverage Strong Balance Sheet that Provides Optionality 4-7% Core Sales Growth1 12-14% ROIC1 30-40% Dividend Payout Ratio1 21-23% Adjusted EBITDA Margin1 Reinvest in profitable growth 1: See “Forward-Looking Statements and Non-GAAP Financial Measures” slide for definitions and Appendix for GAAP reconciliation Competitive Advantages Technological and Innovation Leader High Return Strategic Investments Improve Operating LeverageA Leader in ESGServing Attractive Global End Markets Regulatory and End User Expertise 114
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Driving Profitable Growth Stephan Tanda, Chief Executive Officer and President 115
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Investor Day 2025 │ Market Shaping Innovation Leadership Drives Revenue Growth • The Pharma innovation pipeline adds 7-10% annually to revenue, reinforcing an expanding base o Approximately 90% of annual pharmaceutical revenue is derived from recurring business, underscoring the durability of the portfolio1 Originator → Generic → OTC • More than 7,300 granted and pending patents, the majority of which are for our Pharma segment • Growth in injectables is accelerating, driven by expanded capacity for higher value products and solutions • Proprietary drug delivery systems are unlocking new indications / applications → sustained long-term expansion o Nose-to-Brain, Central Nervous System, Biologics • Continued leadership in pharma is underpinned by differentiated services and advancements in digital health • The Closures business is outpacing industry growth by upgrading end markets to higher-value closure systems o Our dispensing closure volumes grew 50% faster than the market over the past three years • Beauty and personal care is focused on increased profitability leveraging market penetration and a growing customer base 116 How We Drive Profitable Growth and Higher Value • Continuing to allocate majority of capital to Pharma Enhancing Value Through Strategic Capital Allocation 1: Majority of Pharma revenue is growing repeat business, however there can be exceptions. Operational Efficiency and Cost Management • Strategic priority to drive focus and boost margins
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Question & Answer Session Aptar Investor Day 2025 117
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120 Appendix
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Non-GAAP Financial Measures Definitions 121Investor Day 2025 • Adjusted EBITDA – Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, restructuring initiatives, acquisition-related costs, net unrealized investment gains and losses related to observable market price changes on equity secur ities and other special items. • Adjusted EBITDA Margin % - Adjusted EBITDA Margin % is calculated as Adjusted EBITDA / Reported Sales. • Adjusted Earnings Per Share (EPS) – Adjusted Earnings Per Share (EPS) is calculated as Adjusted Net Income / Average Number of Diluted Shares Outstanding. • Adjusted Net Income – Net income attributable to AptarGroup, Inc. net of restructuring initiatives, net investment (gain / loss), transaction costs related to acquisitions and foreign currency effects • Compound Annual Growth Rate (CAGR) - is the annualized average rate of revenue growth between two given years, assuming growth takes place at an exponentially compounded rate • Core Sales Growth – Core Sales Growth excludes acquisitions and currency effects, whereas currency effects are calculated by translating last year’s amounts at the current year’s foreign currency rates • Dividend Payout Ratio – Dividend Payout Ratio is calculated as Cash Dividends Paid Per Share / Adjusted Earnings Per Share • EBITDA – EBITDA is defined as Earnings Before Net Interest Taxes Depreciation and Amortization • Free Cash Flow – Free Cash Flow is calculated as Net Cash Provided by Operations less Capital Expenditures plus Proceeds from Government Grants • Leverage Ratio – Leverage Ratio is as defined in our Debt Agreements • Return on Investment Capital (ROIC) – Return on Investment Capital (ROIC) is calculated as Adjusted Earnings before Net Interest and Taxes, less Tax Effect / Average Capital, whereas Average Capital is the average of beginning of year capital and Capital is Equity plus Debt less Cash
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Reconciliation of Non-GAAP Financial Measures 122Investor Day 2025
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Reconciliation of Non-GAAP Financial Measures 123Investor Day 2025
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Reconciliation of Non-GAAP Financial Measures 124Investor Day 2025
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Reconciliation of Non-GAAP Financial Measures 125Investor Day 2025
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Reconciliation of Non-GAAP Financial Measures 126Investor Day 2025
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$0.6B $0.7B $0.8B 2022 2023 2024 2025 2026 2027 Adjusted EBITDA $3.3B $3.5B $3.6B 2022 2023 2024 2025 2026 2027 Reported Sales Focused Strategy, Meaningful Progress Organic Growth Added focus on high growth regions Talent and Leadership Added focus on upgrading talent Innovation, Operations and Commercial Excellence Focus on Efficiency and Costs Across the Organization Acquisitions and Partnerships 127
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$0.09B $0.10B $0.11B 2022 2023 2024 2025 2026 2027 Closures Adjusted EBITDA $0.74B $0.70B $0.71B 2022 2023 2024 2025 2026 2027 Closures Reported Sales $0.15B $0.16B $0.16B 2022 2023 2024 2025 2026 2027 Beauty Adjusted EBITDA $1.22B $1.27B $1.23B 2022 2023 2024 2025 2026 2027 Beauty Reported Sales $0.44B $0.50B $0.57B 2022 2023 2024 2025 2026 2027 Pharma Adjusted EBITDA $1.36B $1.52B $1.64B 2022 2023 2024 2025 2026 2027 Pharma Reported Sales Focused Strategy, Meaningful Progress 128
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$0.6B $0.7B $0.8B 2022 2023 2024 2025 2026 2027 Adjusted EBITDA $3.3B $3.5B $3.6B 2022 2023 2024 2025 2026 2027 Reported Sales Focused Strategy, Meaningful Progress Organic Growth Added focus on high growth regions Talent and Leadership Added focus on upgrading talent Innovation, Operations and Commercial Excellence Focus on Efficiency and Costs Across the Organization Acquisitions and Partnerships 129
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$0.09B $0.10B $0.11B 2022 2023 2024 2025 2026 2027 Closures Adjusted EBITDA $0.74B $0.70B $0.71B 2022 2023 2024 2025 2026 2027 Closures Reported Sales $0.15B $0.16B $0.16B 2022 2023 2024 2025 2026 2027 Beauty Adjusted EBITDA $1.22B $1.27B $1.23B 2022 2023 2024 2025 2026 2027 Beauty Reported Sales $0.44B $0.50B $0.57B 2022 2023 2024 2025 2026 2027 Pharma Adjusted EBITDA $1.36B $1.52B $1.64B 2022 2023 2024 2025 2026 2027 Pharma Reported Sales Focused Strategy, Meaningful Progress 130