Smurfit Westrock (SW) Investor presentation summary

Strategic vision and leadership

• Aims to deliver secure, superior, and long-term value for all stakeholders, guided by core values of safety, loyalty, integrity, and respect.

• Recognized as a global leader in paper and packaging, with #1 or #2 market share in most countries.

• Operates in 40 countries with 97,000 employees and $31bn in net sales, with 58% of sales from North America.

• Leadership team includes experienced CEOs for each major region, emphasizing a decentralized, owner-operator model.

Financial targets and performance

• Targets $7bn Adjusted EBITDA and ~19% Adjusted EBITDA margin by 2030, with all regions contributing to growth.

• Plans to deliver ~$14bn cumulative discretionary free cash flow from 2026-2030, excluding $4bn growth capex.

• Expects 700bps improvement in ROCE by 2030, supported by disciplined capital allocation.

• Progressive capital returns to shareholders, including ~$5bn in dividends and capacity for share buybacks from 2027.

Regional strategies and growth drivers

• North America: Largest value creation opportunity, targeting $4.2bn Adjusted EBITDA by 2030 and >400bps margin enrichment.

• EMEA & APAC: Integrated platform with $1.6bn Adjusted EBITDA in 2025, aiming for $2.1bn by 2030 and >16% margin.

• Latin America: Dynamic growth, targeting $0.8bn Adjusted EBITDA and 28% margin, leveraging leading positions in corrugated and consumer packaging.