Elopak ASA: Trading update for first quarter 2026

20 Mar 2026 17:46 CET

Elopak ASA ("Elopak", Oslo Børs Ticker: ELO) provides a trading update for the
first quarter of 2026. Preliminary consolidated accounts as of end of February
indicate a softer-than-expected revenue and EBITDA development, following a
year of strong financial results and strategic progress in 2025.

Based on the preliminary accounts, we forecast revenue below EUR 300 million
with EBITDA margin of around 14% for the full quarter. The main drivers for
the results development are:

* Ramp-up in Little Rock has been slower than expected due to decline in
demand for plant-based products in America
* General soft consumption in Europe and decline in aseptic juice market in a
price competitive environment
* Reduced volume and continued margin pressure in India due to imbalances in
non-system market
* Frontloading of cost related to strategic initiative and one-off effects
related to filling machines

"Elopak has delivered resilient and strong financial results over the last 3
years. While the development so far in 2026 is weaker than expected, we remain
confident our strategy Repackaging tomorrow' and our financial mid-term
targets", says CEO Thomas Körmendi.

The full Q1 2026 report with full year outlook for 2026 will be released on 5
May 2026 at 07:00 AM (CET).

For further information, please contact:
Christian Gjerde, Head of Treasury and Investor Relations
E-mail: christian.gjerde@elopak.com
Tel: +47 980 60 909

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-03-20 17:46 CET.

About Elopak
Elopak is a leading global supplier of carton packaging and filling equipment.
The company's iconic Pure-Pak® cartons are made using renewable, recyclable
and sustainably sourced materials, providing a natural and convenient
alternative to plastic bottles that fits within a low carbon circular economy.

Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in
2021. Today it employs 3,000 people and sells 16 billion cartons annually
across more than 70 countries.

Elopak is a UN Global Compact participant member. We have set Science Based
Targets to reduce emissions in line with the 1.5-degree trajectory and aim to
be Net-Zero by 2050. In 2023, we achieved a gold rating by EcoVadis and were
rated top 2% sustainable companies in the world.

For more information, go to www.elopak.com or follow us @Elopak on LinkedIn.

More information:
Access the news on Oslo Bors NewsWeb site

669031_Elopak ASA- Trading update for first quarter 2026.pdf