IPL Plastics plc AGM 2018 17 May 2018
Disclaimer The information in this Presentation has not been independently verified and does not purport to contain all of the information that may be required to evaluate an investment in the Group and/or its financial position. Any prospective investors must make their own investigation, analysis and assessments and consult with their own adviser concerning the data referred to herein and any evaluation of the Group and its prospects. IPL Plastics is not undertaking any obligation to provide any additional information or to update this Presentation or to correct any inaccuracies that become apparent. The information contained in this Presentation is for background purposes only and is subject to material updating, completion, revision, amendment and verification. No representation or warranty, express or implied, is or will be given by IPL Plastics, its subsidiaries, its shareholders or their respective directors, officers, employees or advisers as to the accuracy or completeness of this Presentation. To the extent permitted by law, no liability whatsoever is accepted by IPL Plastics, its subsidiaries, its shareholders or their respective directors, officers, employees or advisers or any other person for any loss howsoever arising, whether directly or indirectly, from any use of this Presentation or such information or opinions contained herein or otherwise arising in connection herewith. In particular, without limitation, no representation or warranty is given as to the achievement or reasonableness of any projection, estimate, target or forecast in this Presentation, which it should be noted is provided for illustrative purposes only. This Presentation contains forward-looking statements which reflect management’s current views and estimates. These forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments. Management undertake no responsibility to revise any such forward looking statements to reflect any changes in management’s expectations or any change in circumstances, events or the Group’s plans and strategy. Accordingly, no reliance can be placed on the figures contained in such forward looking statements and no representation or warranty is given as to the completeness or accuracy of the forward looking statements contained in this Presentation. The Group is under no obligation to update or keep current the information contained in this Presentation, to correct any inaccuracies which may become apparent, or to publicly announce the result of any revision to the statements made herein and any opinions expressed in the Presentation or in any related materials are subject to change without notice. 2
Group Overview Effective 1 January 2018 Leading sustainable packaging solutions provider Manufacturer of specialty packaging products used primarily in the food and consumer, agricultural, logistics and environmental end-markets Large Format Packaging and Returnable Packaging Solutions Consumer Packaging Solutions Environmental Solutions 3
2017 Highlights ▪ The disposal of ClearCircle’s Specialist Environmental Services (“SES”) Divisions in Ireland and the UK, with cash consideration of c. €40m received from the sale of both divisions ▪ The acquisition of 100% of the share capital of Macro Plastics Inc. on 9 June 2017 through IPL Inc. ▪ The North American market contributed significant organic growth driven by continued increased demand in both the Consumer Packaging and Large Format Packaging and Environmental Solutions divisions. ▪ Significant development capital investment programmes continue in the Group’s North American operations providing it with enhanced ability and capacity to serve an expanding business. A number of these projects began to contribute to EBITDA in 2017. ▪ The hurricanes in the US in Quarter 3 2017 drove reduced capacity in both the resin and freight markets resulting in significant cost increases in Quarter 4 2017, trends which have continued into Quarter 1 2018. ▪ Overall results for 2017 in line with expectations. 4
Key Strategic Milestones ▪ At its EGM in December 2017, the Group took the initial steps to facilitate a possible liquidity event when shareholders gave the board authority to enable the company to proceed with an IPO and Listing in 2018 should market and other conditions permit. Authority was also received from shareholders to change the name of the company to IPL Plastics plc, which became effective on 7 December 2017. In addition, the shareholders approved a reorganization of the existing IPL Inc. shareholding structure by agreeing to an exchange of the current minority shareholders’ equity interests in IPL Inc. for shares in IPL Plastics plc. ▪ On 28 February 2018, the reorganization of the IPL Inc. shareholding structure was effected in line with the approval provided by shareholders at the December 2017 EGM, resulting in the issuance of 47,238,242 shares and the elimination of the Put Liability (i.e. the 33.3% of IPL Inc. not owned by the Group), which amounted to €119.8m at year end 2017. On 17 April 2018, the Group entered into a new €400m, multi -currency banking facility, with a five ▪ year term with a syndicate of Irish and Canadian banks to replace the previous two principal bank facilities that had been provided by separate Irish and Canadian banking syndicates. 5
IPL Plastics History 2005 2006 2011 2014 2015 2016 2017 2018 Acquisition of One51 established as a Acquisition of Disposal of Refocus of One51’s Irish diversified investment operations on Rigid company metal recycling Plastic with the a key supplier of establishing the business disposal of environmental containers Plastics Division in the U.K., and rebranding of One51 of its plastics business as environmental One51 services business acquires a 67% majority equity CDPQ and FSTQ exchange One51 changes its Adoption of an action plan interest in , with their minority equity interest into to transform One51 from name to 22% shares of the parent, effectively an investment company to 11% consolidating the company an operations focused business as minority shareholders Global refinancing of all credit 2016 2017 1939 1985 2010 2011 2015 facilities under parent company IPO of IPL on the Acquisition of Plastic Acquisition of Acquisition of Montreal Stock Enterprises Co., Exchange expanding CPS capacity expanding its a leading manufacturer (Lee’s Summit Plant) LF&E capacity in returnable packaging IPL is founded solutions IPL is taken private by as a small manufacturer Novacap & of household items Well established business with over 75 years of innovation and leadership 6
Our Global Footprint 74% 26% North America Europe & Asia CANADA 2 UNITED STATES CHINA IRELAND U.K. MEXICO 320 Machines 14 Manufacturing 7 Corporate & Sales 4 R&D Facilities in 1.7 Million Square Feet Injection Molding: 304 Facilities Offices Worldwide Canada, U.S. and of Manufacturing and IML Capable: 68 Office Ireland Storage Space Consumer Packaging Solutions Blow Molding: 4 Large Format Packaging & Thermoforming: 12 R&D Centre Environmental Solutions Returnable Packaging Solutions Well invested manufacturing facilities across North America, Ireland, the U.K. and China 1. Legacy Ampthill Metal, metal recycling business 2. Represents percentage of 2017 total revenue; pro forma figures including the full 12-month of the Macro acquisition. 7
IPL at a Glance Consumer Packaging Large Format Packaging & Returnable Packaging Solutions Environmental Solutions Solutions Food Material Industrial Tamper-evident Film Seal Handling Packaging Packaging PRODUCTS Organic Recycling General Waste Custom Packaging Lids and Overcaps Agricultural Automotive #1 #1 #1 Environmental carts producer in Canada and U.K MARKET Bulk plastic container producer Supplier of IML packages LEADERSHIP in North America in North America #3 Plastic pails producer in North America ✓ Agriculture ✓ Food and beverage ✓ Food industry ✓ Logistics ✓ Dairy ✓ Waste management services GROWING ✓ Automotive END-MARKET ✓ Consumer products ✓ Construction products ✓ Portable flooring 8
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