Market Newsdesk

SALT LAKE CITY, Feb. 16, 2026 (GLOBE NEWSWIRE) — Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular testing and precision medicine, will hold its fourth quarter and full year 2025 earnings conference call at 4:30 pm ET on Monday, Feb. 23, 2026. The company’s quarterly earnings will be released the same day after the market closes. During the call, Myriad management will provide a financial overview and business update of the company’s performance for the fourth quarter and full year 2025.

A live webcast of the earnings conference call can be accessed on Myriad’s Investor Relations website at investor.myriad.com. To participate in the live conference call via telephone, please register here. Upon registering, a dial-in number and unique PIN will be provided to join the conference call. An archived webcast of the call will be available at investor.myriad.com following the call.

Upcoming Investor Conferences

Sam Raha, President and CEO, and Ben Wheeler, Chief Financial Officer, will participate in the following investor healthcare conferences:

• The TD Cowen 46th Annual Health Care Conference in a fireside chat at 3:10 pm ET on Tuesday, March 3, 2026.
• The Leerink Partners Global Healthcare Conference in a fireside chat at 1:40 pm ET on Tuesday, March 10, 2026.
• The Barclays 28^th Annual Global Healthcare conference in 1-on-1 meetings on Wednesday, March 11, 2026.

Live and archived webcasts of presentations at TD Cowen and Leerink Partners can be viewed at investor.myriad.com.

About Myriad Genetics

Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit www.myriad.com.

Investor Contact 

Matt Scalo 
(801) 584-3532 
[email protected] 

Media Contact 

Kate Schraml
(385) 318-3718 
[email protected]  

Executing a fundamental business restructuring to eliminate complexity, strengthen the balance sheet, and relentlessly focus on operating a streamlined real estate platform:

• Exiting the multifamily property sector to unlock embedded value, reduce leverage and sharpen focus on retail and office properties
• Divesting construction and real estate financing businesses
• Aligning long-term performance with shareholder value creation through redesigned executive compensation structures
• Launching AH Realty Trust, effective March 2, 2026, a new corporate identity that reflects the fundamental restructuring of the business
• Launching under new NYSE tickers, AHRT and AHRT-PrA, effective March 2, 2026
  

VIRGINIA BEACH, Va., Feb. 16, 2026 (GLOBE NEWSWIRE) — Armada Hoffler (NYSE: AHH) today announced that it is launching the Company under a new name, AH Realty Trust, reflecting a company-wide transformation that fundamentally repositions the business and establishes a bold new strategic direction. Following a rigorous, year-long examination of every part of the organization, the Company has rebuilt its strategy, operating model, and capital allocation priorities to create a leaner, more disciplined, and durable platform explicitly designed to strengthen the balance sheet and establish a foundation for future growth to drive long-term shareholder value.

The Company has entered into a letter of intent with a global real estate investment management firm for the potential sale of 11 of the 14 multifamily assets in its portfolio, following a strategic and targeted process that generated strong interest from multiple qualified parties. In addition, the Company is under letters of intent relating to the potential sale of its construction business and a majority of its real estate financing platform investments. While the Company continues to take a disciplined and prudent approach, meaningful progress has been made to date, supporting the Company’s expectation that these transactions will be completed during 2026. The Company intends to provide updates as definitive agreements are executed and transactions are completed.

Proceeds from these capital recycling initiatives will be directed first toward debt reduction, supporting the Company’s long-term target of 5.5x–6.5x net debt/total adjusted EBITDA. These actions strengthen the balance sheet while positioning the Company for disciplined growth, lower risk, and the operational flexibility to capitalize on opportunities across market cycles.

“This is a fundamental reset of the Company and a clear declaration of where we are focused: long term value creation over short term earnings,” said Shawn Tibbetts, Chairman, President and Chief Executive Officer. “We are rebuilding every part of the organization and operational excellence is our guiding principle, informing every decision we make. We believe, with significantly reduced leverage and a streamlined operating model, we will be a stronger, leaner, and more agile firm, better positioned to produce predictable earnings and sustainable cash-flow growth. Our team has worked relentlessly to execute this transformation, and we are confident this platform is positioned to deliver durable cash flows and disciplined growth. This to me is the definition of shareholder value.”

The Company’s new investment mandate is primarily centered on expanding its retail real estate portfolio, reflecting strong conviction in the segment’s durable cash flow profile and growth potential. The Company intends to target investments in markets with strong fundamentals that support sustained future rent growth.

“As we execute this transition, we are evaluating a targeted pipeline of acquisition opportunities in markets with fundamentals that align with where we already operate best,” said Tibbetts. “We will leverage our internal competencies, data-driven approach, deep market knowledge, long-standing partner and vendor relationships, tenant credit strength, and experiential retail demand to position our portfolio for sustained long-term performance.”

The Company commenced a comprehensive turnaround in 2025 to simplify the business and strengthen operational excellence. As part of this transformation, the Company rightsized its dividend in 2025 to align with stabilized, recurring cash flows and ensure long‑term sustainability, instituted a disciplined capital allocation approach centered on shareholder interests, and began realigning relationships with property management and development partners to enhance local expertise, improve execution in core markets, and support long‑term value creation. Additionally, the Company consolidated its headquarters into more efficient and cost‑effective space, positioning it to lease its former Class A offices to third parties at premium market rents. Collectively, these actions reinforce the Company’s commitment to its shareholders and are designed to maximize quality and returns.

This transformation coincides with President and CEO, Shawn Tibbetts, assuming the role of Chairman of the Board effective January 1, 2026, providing unified leadership as the Company advances its strategic plan. Leadership enhancements include the expansion of the executive team with cross‑industry expertise spanning finance, operations, logistics, and infrastructure to drive operational execution and challenge conventional norms; the redistribution of operating responsibilities across the leadership team as part of a thoughtful succession strategy to strengthen accountability, agility, and efficiency; the modernization of the executive compensation program to directly align with shareholder return metrics; and the continued refresh of the Board of Directors, including the addition of two new independent directors over the past two years and the implementation of age limits to promote ongoing renewal and diverse perspectives.

“This is about delivering tangible, long-term value for our shareholders,” said Tibbetts. “We are streamlining the business, strengthening the balance sheet, and focusing relentlessly on owning and operating high-performing retail and office assets. These actions will position the Company to generate consistent cash flows, disciplined growth, and superior risk-adjusted returns. Our team is aligned, accountable, and executing with rigor – every decision we make is measured against its ability to create lasting value for investors.”

The Company’s new name, AH Realty Trust, Inc., is expected to become effective on March 2, 2026. In connection with the name change, the Company’s operating partnership will be renamed “AH Realty Trust, LP,” which is also expected to be effective March 2, 2026.

In connection with the name change, effective March 2, 2026, the Company’s trading symbols on the NYSE will change from “AHH” to “AHRT” for the Company’s common stock and from “AHH PrA” to “AHRT PrA” for the Company’s Series A Preferred Stock.

While the Company’s rebrand will shape the way it carries out its mission to deliver value to shareholders, it will not impact key components such as its organizational structure, stockholder rights or its qualification as a REIT for U.S. federal income tax purposes. The Company’s outstanding securities will remain valid, and no action is required by securityholders because of the name or ticker changes. There will be no change to the Company’s CUSIP numbers in connection with the name and ticker symbol changes.

The Company’s new corporate website, www.ahrealtytrust.com, will go live on March 2, 2026.

About Armada Hoffler Properties, Inc.

Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically integrated, self-managed real estate investment trust (“REIT”) with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information visit ArmadaHoffler.com.

Forward Looking Statements

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding: the Company’s business restructuring and strategic transformation; the anticipated sale of the Company’s multifamily assets, the construction business, and investments in the real estate financing platform; the expected use of proceeds from such transactions, including debt reduction and achievement of the Company’s targeted leverage ratio; the Company’s ability to strengthen its balance sheet and generate consistent, long-term shareholder value; the Company’s future investment strategy, including potential acquisitions and expansion of its commercial real estate platform; the anticipated timing and effectiveness of the Company’s rebranding to AH Realty Trust; and the Company’s expectations regarding durable cash flows, disciplined growth, and operational excellence. The forward-looking statements presented herein are based on the Company’s current expectations. For a description of factors that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and the other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein, to reflect any change in the Company’s expectations with regard thereto, or any other change in events, conditions or circumstances on which any such statement is based, except to the extent otherwise required by applicable law.

Contact:

Chelsea Forrest
Armada Hoffler
Vice President of Corporate Communications and Investor Relations
Email: [email protected] 

GAAP Net Loss of $0.01 
Per Diluted Share for the Fourth Quarter

and
$0.08 per Diluted Share for the Full Year

Normalized FFO of
$0.29
Per Diluted Share for the Fourth Quarter

and
$1.08
per Diluted Share for the Full Year

Office Same Store NOI Growth of 10.4% (GAAP)

Positive Office Renewal Spreads of 9.1% (GAAP) and 2.5% (Cash)

Positive Retail Renewal Spreads of 15.3% (GAAP) and 10.1%
(Cash)

VIRGINIA BEACH, Va., Feb. 16, 2026 (GLOBE NEWSWIRE) — Armada Hoffler Properties, Inc. (NYSE: AHH) today announced its results for the quarter ended December 31, 2025 and provided an update on current events and earnings guidance.

Fourth Quarter
and Recent Highlights:

• Net loss attributable to common stockholders and OP Unitholders of $1.0 million, or $0.01 per diluted share, compared to net income attributable to common stockholders and OP Unitholders of $26.1 million, or $0.26 per diluted share, for the three months ended December 31, 2024. 

• Funds from operations attributable to common stockholders and OP Unitholders (“FFO”) of $23.1 million, or $0.23 per diluted share, compared to $29.7 million, or $0.29 per diluted share, for the three months ended December 31, 2024. See “Non-GAAP Financial Measures.” 

• Normalized funds from operations attributable to common stockholders and OP Unitholders (“Normalized FFO”) of $29.5 million, or $0.29 per diluted share, compared to $27.8 million, or $0.27 per diluted share, for the three months ended December 31, 2024. See “Non-GAAP Financial Measures.” 

• As of December 31, 2025, weighted average stabilized portfolio occupancy was 95.3%. Retail occupancy was 94.9%, office occupancy was 96.4%, and multifamily occupancy was 94.6%.

• Positive spreads on renewals across all commercial segments:
  • Retail 15.3% (GAAP) and 10.1% (Cash)
  • Office 9.1% (GAAP) and 2.5% (Cash)

• During the fourth quarter of 2025, two new retail leases at Columbus Village II in Town Center of Virginia Beach opened for business – Trader Joes with a 14,000-square-foot lease and Golf Galaxy with a 19,000-square-foot lease. As of December 31, 2025, Columbus Village II is at 95.3% occupancy.

• Same Store Net Operating Income (“NOI”) increased 6.3% on a GAAP basis compared to the quarter ended December 31, 2024.

• During the fourth quarter of 2025, unrealized losses on non-designated interest rate derivatives that negatively affected FFO were $4.9 million. As of December 31, 2025, the value of the Company’s entire interest rate derivative portfolio, net of unrealized losses, was $7.9 million. These losses are excluded from Normalized FFO.

• On October 16, 2025, the Company announced that its Board of Directors unanimously appointed Shawn J. Tibbetts as Chairman of the Board, effective January 1, 2026. This appointment represents the final step in the succession plan initiated in 2024. Mr. Tibbetts continues to serve as the President and Chief Executive Officer.

• On December 10, 2025, the Company acquired Solis Gainesville II. The consideration for such acquisition included the repayment of the Company’s outstanding $26.9 million preferred equity investment in the project.

Financial Results

Net loss attributable to common stockholders and OP Unit holders for the fourth quarter was $1.0 million compared to net income attributable to common stockholders and OP Unit holders of $26.1 million for the fourth quarter of 2024. The period-over-period change was primarily driven by gains on the dispositions of Nexton Square and Market at Mill Creek in the fourth quarter of 2024.

FFO attributable to common stockholders and OP Unit holders for the fourth quarter of 2025 was $23.1 million compared to $29.7 million for the fourth quarter of 2024. The period-over-period decrease in FFO was primarily due to a decrease in the unrealized gains of derivatives and an increase in portfolio NOI, partially offset by an increase in interest expense due to less capitalized interest in 2025 due to properties coming out of development. Normalized FFO attributable to common stockholders and OP Unit holders for the fourth quarter increased to $29.5 million compared to $27.8 million for the fourth quarter of 2024. The year-over-year increase in Normalized FFO was primarily due to an increase in portfolio NOI, partially offset by an increase in interest expense due to less capitalized interest in 2025 due to properties coming out of development.

Net loss attributable to common stockholders and OP Unit holders for the full year was $7.9 million compared to net income of $30.9 million for the year ended December 31, 2024. FFO attributable to common stockholders and OP Unit holders for the full year decreased to $79.4 million compared to $99.8 million for the year ended December 31, 2024. Normalized FFO attributable to common stockholders and OP Unit holders for the full year decreased to $110.1 million compared to $118.9 million for the year ended December 31, 2024. The year‑over‑year changes were positively impacted by higher property NOI and positive releasing spreads, lower capitalized interest due to properties coming out of development, and the impairment of development costs related to undeveloped land under predevelopment in 2024. The year‑over‑year changes were negatively impacted by lower interest income due to decreased rates on real estate financing investments, the gains on the dispositions of Nexton Square and Market at Mill Creek in 2024, and a decrease in fair value of undesignated derivatives in the current year.

Operating Performance

At the end of the fourth quarter, the Company’s retail, office, and multifamily stabilized operating property portfolios were 94.9%, 96.4%, and 94.6% occupied, respectively.

Interest income from real estate financing investments was $3.6 million for the three months ended December 31, 2025.

Balance Sheet and Financing Activity

As of December 31, 2025, the Company had $1.5 billion of total debt outstanding, including $241.0 million outstanding under its revolving credit facility. Total debt outstanding excludes GAAP adjustments and deferred financing costs. As of December 31, 2025, the Company’s debt was 96% fixed or economically hedged after considering interest rate swaps.

Supplemental Financial Information

Further details regarding operating results, properties, and leasing statistics can be found in the Company’s supplemental financial package available on the Investors page at ArmadaHoffler.com.

Webcast and Conference Call

The Company will host a webcast and conference call on Tuesday, February 17, 2026 at 8:30 a.m. Eastern Time to review financial results and discuss recent events. The recorded webcast will be available through the Investors page of the Company’s website, ArmadaHoffler.com. To participate in the call, please dial (+1) 800 549 8228 (toll-free dial-in number) or (+1) 646 564 2877 (toll dial-in number). The conference ID is 89782. A telephonic replay will be available shortly after the conclusion of the call through Thursday, March, 19, 2026. This replay may be accessed by dialing (+1) 888 660 6264 (toll-free dial-in number) or (+1) 646 517 3975 (toll dial-in number) and providing passcode 89782 #.

About Armada Hoffler Properties, Inc.

Armada Hoffler (NYSE: AHH) is a vertically integrated, self-managed real estate investment trust with over four decades of experience managing high-quality properties located primarily in the Mid-Atlantic and Southeastern United States. Our focus is to deliver long-term, sustainable shareholder value by consistently investing in and operating the highest quality assets, maintaining a robust and resilient balance sheet, and fostering a dynamic, highly skilled team. Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information visit ArmadaHoffler.com.

Forward-Looking Statements

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These forward-looking statements may include comments relating to the current and future performance of the Company’s operating property portfolio, the Company’s development pipeline, the Company’s real estate financing program, financing activities, as well as acquisitions, dispositions, and the Company’s financial outlook, guidance, and expectations. Forward-looking statements depend on assumptions, data or methods which may be incorrect or imprecise, and the Company may not be able to realize any forward-looking statement. For a description of factors that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and the other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein, to reflect any change in the Company’s expectations with regard thereto, or any other change in events, conditions, or circumstances on which any such statement is based, except to the extent otherwise required by applicable law.

Non-GAAP Financial Measures

The Company calculates FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (“Nareit”). Nareit defines FFO as net income (loss) (calculated in accordance with GAAP), excluding depreciation and amortization related to real estate, gains or losses from the sale of certain real estate assets, gains and losses from change in control, and impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity.

FFO is a supplemental non-GAAP financial measure. The Company uses FFO as a supplemental performance measure because it believes that FFO is beneficial to investors as a starting point in measuring the Company’s operational performance. Specifically, in excluding real estate related depreciation and amortization and gains and losses from property dispositions, which do not relate to or are not indicative of operating performance, FFO provides a performance measure that, when compared period-over-period, captures trends in occupancy rates, rental rates, and operating costs. We also believe that, as a widely recognized measure of the performance of REITs, FFO will be used by investors as a basis to compare the Company’s operating performance with that of other REITs.

However, because FFO excludes depreciation and amortization and captures neither the changes in the value of the Company’s properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of the Company’s properties, all of which have real economic effects and could materially impact the Company’s results from operations, the utility of FFO as a measure of the Company’s performance is limited. In addition, other equity REITs may not calculate FFO in accordance with the Nareit definition as the Company does, and, accordingly, the Company’s FFO may not be comparable to such other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of the Company’s performance. FFO should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends or service indebtedness. Also, FFO should not be used as a supplement to or substitute for cash flow from operating activities computed in accordance with GAAP.

Management also believes that the computation of FFO in accordance with Nareit’s definition includes certain items that are not indicative of the results provided by the Company’s operating property portfolio and affect the comparability of the Company’s period-over-period performance. Accordingly, management believes that Normalized FFO is a more useful performance measure that excludes certain items, including but not limited to, debt extinguishment losses and prepayment penalties, impairment and accelerated amortization of intangible assets and liabilities, property acquisition, development, and other pursuit costs, mark-to-market adjustments for interest rate derivatives not designated as cash flow hedges, amortization of payments made to purchase interest rate caps and swaps designated as cash flow hedges, provision for unrealized non-cash credit losses, amortization of right-of-use assets attributable to finance leases, severance related costs, and other non-comparable items. Other equity REITs may not calculate Normalized FFO in the same manner as we do, and, accordingly, our Normalized FFO may not be comparable to such other REITs’ Normalized FFO.

NOI is the measure used by the Company’s chief operating decision-maker to assess segment performance. The Company calculates NOI as segment revenues less segment expenses. Segment revenues include rental revenues (base rent, expense reimbursements, termination fees, and other revenue) for our property segments, general contracting and real estate services revenues for our general contracting and real estate services segment, and interest income for our real estate financing segment. Segment expenses include rental expenses and real estate taxes for our property segments, general contracting and real estate services expenses for our general contracting and real estate services segment, and interest expense for our real estate financing segment. Segment NOI for the general contracting and real estate services and real estate financing segments is also referred to as segment gross profit. NOI is not a measure of operating income or cash flows from operating activities as measured in accordance with GAAP and is not indicative of cash available to fund cash needs. As a result, NOI should not be considered an alternative to cash flows as a measure of liquidity. Not all companies calculate NOI in the same manner. The Company considers NOI to be an appropriate supplemental measure to net income because it assists both investors and management in understanding the core operations of the Company’s real estate and construction businesses. To calculate NOI on a cash basis, we adjust NOI to exclude the net effects of straight line rent and the amortization of lease incentives and above/below market rents.

For reference, as an aid in understanding the Company’s computation of NOI, NOI Cash Basis, FFO and Normalized FFO, a reconciliation of net income calculated in accordance with GAAP to NOI, NOI Cash Basis, FFO, and Normalized FFO has been included further in this release.

ARMADA HOFFLER PROPERTIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (dollars in thousands)
		December 31, 2025				December 31, 2024
		(UNAUDITED)
ASSETS
Real estate investments:
Income producing property		$	2,524,525			$	2,171,970
Held for development			5,683				5,683
Construction in progress			17,053				17,515
			2,547,261				2,195,168
Accumulated depreciation			(521,189	)			(450,419	)
Net real estate investments			2,026,072				1,744,749
Assets held for sale, net			34,760				134,370
Cash and cash equivalents			49,158				32,000
Restricted cash			3,229				1,581
Accounts receivable, net			66,176				52,843
Notes receivable, net			128,674				132,565
Equity method investments			47,926				158,151
Operating lease right-of-use assets			22,610				22,841
Finance lease right-of-use assets			87,473				88,986
Acquired lease intangible assets			77,606				89,739
Other assets			52,517				55,038
Total Assets		$	2,596,201			$	2,512,863
LIABILITIES AND EQUITY
Indebtedness, net		$	1,526,158			$	1,295,559
Liabilities of discontinued operations held for sale, net		$	30,599			$	114,124
Accounts payable and accrued liabilities			40,182				35,083
Operating lease liabilities			31,198				31,365
Finance lease liabilities			93,477				92,646
Other liabilities			45,704				54,418
Total Liabilities			1,767,318				1,623,195
Total Equity			828,883				889,668
Total Liabilities and Equity		$	2,596,201			$	2,512,863

ARMADA HOFFLER PROPERTIES, INC. CONDENSED CONSOLIDATED INCOME STATEMENTS (in thousands, except per share amounts)
		Three Months Ended December 31,								Year Ended December 31,
			2025				2024				2025				2024
		(Unaudited)
Revenues
Rental revenues		$	71,952			$	62,953			$	269,624			$	256,697
Interest income			3,650				4,390				15,577				17,371
Total revenues			75,602				67,343				285,201				274,068
Expenses
Rental expenses			17,700				16,066				66,925				62,410
Real estate taxes			6,425				5,313				25,100				23,308
Depreciation and amortization			23,554				25,226				91,522				90,829
General and administrative expenses			4,453				4,441				20,341				19,287
Acquisition, development, and other pursuit costs			9				—				93				5,530
Impairment charges			23				—				373				1,494
Total expenses			52,164				51,046				204,354				202,858
Gain on real estate dispositions, net			—				21,305				—				21,305
Operating income			23,438				37,602				80,847				92,515
Interest expense			(23,211	)			(18,376	)			(85,309	)			(78,965	)
Equity in income (loss) of unconsolidated real estate entities			57				245				(2,140	)			245
(Loss) gain on consolidation of real estate entities			(269	)			—				6,646				—
Loss on extinguishment of debt			—				(134	)			(69	)			(247	)
Change in fair value of derivatives and other			256				7,273				(1,522	)			14,251
Unrealized credit loss release (provision)			124				(103	)			437				(156	)
Other (expense) income, net			(13	)			(45	)			(57	)			209
Income (loss) before taxes from continuing operations			382				26,462				(1,167	)			27,852
Income tax benefit			—				—				—				—
Income (loss) from continuing operations			382				26,462				(1,167	)			27,852
Discontinued operations
Income from discontinued operations			1,580				2,080				4,580				14,028
Income tax benefit from discontinued operations			—				494				185				614
Income from discontinued operations, net of taxes			1,580				2,574				4,765				14,642
Net income			1,962				29,036				3,598				42,494
Net (income) loss attributable to noncontrolling interests in investment entities			(32	)			(9	)			99				(43	)
Preferred stock dividends			(2,887	)			(2,887	)			(11,548	)			(11,548	)
Net (loss) income attributable to common stockholders and OP Unitholders		$	(957	)		$	26,140			$	(7,851	)		$	30,903

ARMADA HOFFLER PROPERTIES, INC. RECONCILIATION OF NET (LOSS) INCOME TO FFO & NORMALIZED FFO (in thousands, except per share amounts)
		Three Months Ended December 31,								Year Ended December 31,
			2025				2024				2025				2024
		(Unaudited)
Net (loss) income attributable to common stockholders and OP Unitholders		$	(957	)		$	26,140			$	(7,851	)		$	30,903
Depreciation and amortization, net(1)			23,767				24,899				93,541				88,754
Loss (gain) on consolidation of real estate entities			269				—				(6,646	)			—
Gain on operating real estate dispositions, net(2)			—				(21,305	)			—				(21,305	)
Impairment of real estate assets			23				—				373				1,494
FFO attributable to common stockholders and OP Unitholders		$	23,102			$	29,734			$	79,417			$	99,846
Acquisition, development, and other pursuit costs			167				1				517				5,531
Accelerated amortization of intangible assets and liabilities			—				—				(169	)			(5	)
Loss on extinguishment of debt			—				134				69				247
Unrealized credit loss (release) provision			(124	)			103				(437	)			156
Amortization of right-of-use assets – finance leases			395				394				1,580				1,578
Decrease (increase) in fair value of derivatives not designated as cash flow hedges			4,929				(2,497	)			22,496				9,612
Stock compensation normalization			523				—				3,299				—
Amortization of interest rate derivatives on designated cash flow hedges			381				(32	)			1,530				422
Severance related costs			117				—				1,801				1,506
Normalized FFO available to common stockholders and OP Unitholders		$	29,490			$	27,837			$	110,103			$	118,893
Net (loss) income attributable to common stockholders and OP Unitholders per diluted share and unit		$	(0.01	)		$	0.26			$	(0.08	)		$	0.33
FFO attributable to common stockholders and OP Unitholders per diluted share and unit		$	0.23			$	0.29			$	0.78			$	1.08
Normalized FFO attributable to common stockholders and OP Unitholders per diluted share and unit		$	0.29			$	0.27			$	1.08			$	1.29
Weighted-average common shares and units – diluted			102,100				101,361				101,904				92,326

________________________________________

(1) The adjustment for depreciation and amortization excludes amortization of above and below-market ground lease assets. The adjustment for depreciation and amortization for the three and twelve months ended December 31, 2025 excludes $0.3 million and $1.0 million, respectively, of depreciation attributable to our partners. The adjustment for depreciation and amortization for the three and twelve months ended December 31, 2024 excludes $0.2 million and $0.9 million, respectively, of depreciation attributable to our partners.

(2) Accounts for the double-issuance of stock compensation due to a modification in the structure of executive compensation grants, removing the impact of grants in the current year that are related to the prior year’s performance. New grants are now issued in the year in which performance relates. Adjustment also removes impact of a one-time acceleration of 100% of stock compensation awarded to our former Chief Executive Officer in relation to prior year performance and the special award granted in June 2025. This adjustment accounts for the duplicate expense, but does not adjust for the double issuance of shares. This adjustment also specifically excludes the impact of the special awards granted in June 2025 to a select group of employees, including our executive officers.

ARMADA HOFFLER PROPERTIES, INC. RECONCILIATION OF NET (LOSS) INCOME TO SAME STORE NOI, CASH BASIS (in thousands) (unaudited)
		Three Months Ended December 31,								Year Ended December 31,
			2025				2024				2025				2024
Retail Same Store (1)
Same Store NOI, Cash Basis		$	16,902			$	16,343			$	66,460			$	66,919
GAAP Adjustments(2)			(1,455	)			(1,034	)			(5,313	)			(4,065	)
Same Store NOI			18,357				17,377				71,773				70,984
Non-Same Store NOI(3)			370				1,910				2,002				4,809
Segment NOI			18,727				19,287				73,775				75,793
Office Same Store (4)
Same Store NOI, Cash Basis			13,666				11,713				53,607				50,132
GAAP Adjustments(2)			(1,672	)			(2,183	)			(8,000	)			(7,812	)
Same Store NOI			15,338				13,896				61,607				57,944
Non-Same Store NOI(3)			3,632				(696	)			4,942				3,284
Segment NOI			18,970				13,200				66,549				61,228
Multifamily Same Store (5)
Same Store NOI, Cash Basis			7,835				7,804				30,774				30,787
GAAP Adjustments(2)			(231	)			(209	)			(877	)			(834	)
Same Store NOI			8,066				8,013				31,651				31,621
Non-Same Store NOI(3)			2,064				1,074				5,624				2,337
Segment NOI			10,130				9,087				37,275				33,958
Total Property NOI			47,827				41,574				177,599				170,979
Real estate financing gross profit			1,361				2,274				6,829				9,489
Interest income(6)			79				351				746				1,294
Depreciation and amortization			(23,554	)			(25,226	)			(91,522	)			(90,829	)
General and administrative expenses			(4,453	)			(4,441	)			(20,341	)			(19,287	)
Acquisition, development, and other pursuit costs			(9	)			—				(93	)			(5,530	)
Impairment charges			(23	)			—				(373	)			(1,494	)
Gain on real estate dispositions, net			—				21,305				—				21,305
Interest expense(7)			(21,001	)			(16,611	)			(77,307	)			(72,377	)
Equity in Income (Loss) of Unconsolidated Real Estate Entities			57				245				(2,140	)			245
(Loss) gain on consolidation of real estate entities			(269	)			—				6,646				—
Loss on extinguishment of debt			—				(134	)			(69	)			(247	)
Change in fair value of derivatives and other			256				7,273				(1,522	)			14,251
Unrealized credit loss release (provision)			124				(103	)			437				(156	)
Other (expense) income, net			(13	)			(45	)			(57	)			209
Income (loss) from continuing operations			382				26,462				(1,167	)			27,852
Discontinued operations
Income from discontinued operations			1,580				2,080				4,580				14,028
Income tax benefit from discontinued operations			—				494				185				614
Income from discontinued operations, net of taxes			1,580				2,574				4,765				14,642
Net income			1,962				29,036				3,598				42,494
Net (income) loss attributable to noncontrolling interests in investment entities			(32	)			(9	)			99				(43	)
Preferred stock dividends			(2,887	)			(2,887	)			(11,548	)			(11,548	)
Net (loss) income attributable to common stockholders and OP Unitholders		$	(957	)		$	26,140			$	(7,851	)		$	30,903

________________________________________

(1) Retail same-store portfolio for the three months and year ended December 31, 2025 and 2024 excludes Southern Post Retail, Allied | Harbor Point Retail, and Columbus Village II due to redevelopment, as well as Market at Mill Creek and Nexton Square which were sold in December 2024.

(2) GAAP Adjustments include adjustments for the net effects of straight-line rental revenues, the amortization of lease incentives and above/below market rents, the net effects of straight-line rental expenses, and ground rent expenses for finance leases.

(3) Includes expenses associated with the Company’s in-house asset management division.

(4) Office same-store portfolio for the three months and year ended December 31, 2025 and 2024 excludes Southern Post Office and Allied | Harbor Point Office Garage.

(5) Multifamily same-store portfolio for the three months and year ended December 31, 2025 and 2024 excludes Chandler Residences, The Allied | Harbor Point, and Greenside Apartments.

(6) Excludes real estate financing segment interest income.

(7) Excludes real estate financing segment interest expense.

Contact:

Chelsea Forrest
Armada Hoffler
Vice President of Corporate Communications and Investor Relations
Email: [email protected]
Phone: (757) 612-4248 

HARTSVILLE, S.C., Feb. 16, 2026 (GLOBE NEWSWIRE) — Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), a global leader in high-value sustainable packaging, today reported financial results for the fourth quarter and full year ended December 31, 2025.

Summary:

• Grew fourth quarter net sales to $1.8 billion, up 29.7% from the prior-year quarter, primarily from acquisition activity
• Reported fourth quarter U.S. generally accepted accounting principles (“GAAP”) net income attributable to Sonoco of $332.2 million, up from a loss of $(43.0) million in the same period in 2024, GAAP operating profit of $520.2 million, up from $56.1 million in the same period in 2024, and diluted earnings/(loss) per share (“EPS”) attributable to Sonoco of $3.33, up from $(0.44) in the same period in 2024, primarily due to the gain on the sale of business
• Improved quarterly adjusted net income attributable to Sonoco by 5.1% year-over-year to $104.7 million, and reported adjusted diluted earnings per share of $1.05
• Achieved fourth quarter adjusted operating profit of $187 million, up 47.1%, and adjusted EBITDA of $272 million, up 10.2% from the prior-year quarter
• Generated $413 million and $690 million of operating cash flow in the fourth quarter and full year, respectively, which included $196 million in one-time taxes paid during the year on gains from the sale of the divested TFP business
• Completed the sale of the ThermoSafe business unit (“ThermoSafe”), a leading provider of temperature-assured packaging, to Arsenal Capital Partners on November 3, 2025, and received $656 million in gross cash proceeds at closing
• Reduced net debt by $965 million and $2.7 billion in the fourth quarter and full year 2025, respectively, ending the year with net leverage of approximately 3.0x. (Net debt/adjusted EBITDA)

2026 Guidance:

• Targeting full-year adjusted diluted earnings per share of $5.80 to $6.20. Full-year adjusted EBITDA is expected to be $1.25 billion to $1.35 billion. Cash flows from operating activities are expected to be $700 million to $800 million.
• The Company will continue to simplify its operating and reporting structure in 2026 and will only report its results in two segments, Consumer Packaging and Industrial Paper Packaging. The Company’s industrial plastics packaging business, which was the only remaining business in All Other, will be included in the Industrial Paper Packaging segment. The Company believes this reporting structure appropriately represents the management of its business portfolio going forward.

*Note: References in today’s news release to consolidated “net sales,” “operating profit,” and “adjusted operating profit,” and Consumer Packaging “segment operating profit” and “segment adjusted EBITDA,” along with the corresponding year-over-year comparable results, do not include results of the Company’s Thermoformed and Flexibles Packaging and global Trident businesses (“TFP”), which was sold in April 2025 and is accounted for as discontinued operations in periods prior to the sale.

Fourth Quarter 2025 Consolidated Results
(Dollars in millions except per share data)
	Three Months Ended								Twelve Months Ended
GAAP Results	December 31, 2025			December 31, 2024			Change		December 31, 2025			December 31, 2024			Change
Net sales1	$	1,768		$	1,363		29.7	%	$	7,519		$	5,305		41.7	%
Net sales related to discontinued operations		—			297		NM			321			1,291		(75.2	)%
Operating profit1		520			56		827.6	%		1,018			327		211.6	%
Operating (loss)/profit related to discontinued operations		(19	)		18		NM			644			128		403.3	%
Net income/(loss) attributable to Sonoco		332			(43	)	NM			1,003			164		511.8	%
EPS (diluted)		3.33			(0.44	)	NM			10.07			1.65		510.3	%
	Three Months Ended								Twelve Months Ended
Non-GAAP Results2	December 31, 2025			December 31, 2024			Change		December 31, 2025			December 31, 2024			Change
Adjusted operating profit1	$	187		$	127		47.1	%	$	955		$	573		66.6	%
Adjusted EBITDA		272			247		10.2	%		1,324			1,035		27.9	%
Adjusted net income attributable to Sonoco		105			100		5.1	%		569			486		17.1	%
Adjusted EPS (diluted)		1.05			1.00		5.0	%		5.71			4.89		16.8	%
NM = Not Meaningful
1Excludes results of discontinued operations.
2See the Company’s definitions of non-GAAP financial measures, explanations as to why they are used, and reconciliations to the most directly comparable GAAP financial measures later in this release.

• Fourth quarter 2025 net sales of $1.8 billion reflect an increase of 29.7% compared to the corresponding prior-year quarter, driven by sales added from our Metal Packaging Europe, Middle East and Africa (“EMEA”) business following the December 4, 2024 acquisition of Titan Holdings I B.V. (“Eviosys”). Additionally, sales benefited from higher prices implemented to offset the effects of inflation and tariffs and from the favorable impact of foreign exchange rates.

• GAAP operating profit for the fourth quarter increased to $520 million due to the gain on the sale of ThermoSafe, operating profit from our Metal Packaging EMEA business following the Eviosys acquisition, a positive price/cost environment, solid productivity from procurement savings, production efficiencies, and fixed cost reduction initiatives. These positive factors were partially offset by the impact of divestitures and lower volume/mix.

• Effective tax rates on GAAP income from continuing operations before income taxes and adjusted income from continuing operations before income taxes, were 24.9% and 22.5%, respectively, in the fourth quarter, compared to 36.6% and 24.8%, respectively, in the same period in 2024.

“Our Sonoco team executed well despite a difficult macroeconomic environment, delivering strong operating results, reducing net debt by approximately 40% year-over-year and lowering the Company’s net leverage ratio to approximately 3.0x,” said Howard Coker, President and Chief Executive Officer. “In addition, we substantially concluded our portfolio transformation following the successful divestiture of ThermoSafe and further simplified our Consumer Packaging segment by consolidating our global Metal Packaging and Rigid Paper Containers businesses into a single integrated structure — driven geographically — which we believe enhances our consumer go-to-market strategy, focuses our technology expertise and drives additional synergies across our global channels.”

Paul Joachimczyk, Sonoco’s Chief Financial Officer, added, “Our Consumer Packaging segment achieved record fourth quarter sales, operating profit and adjusted EBITDA while growing adjusted EBITDA margin by 110 basis points. The addition of Metal Packaging EMEA and strong results from our Metal Packaging U.S. business in the quarter drove the increase. Our Industrial Paper Packaging segment also slightly improved operating profit and adjusted EBITDA, while expanding operating profit and adjusted EBITDA margins for the ninth consecutive quarter driven by year-over-year productivity improvements.”

“Operating cash flow for 2025 was $690 million, which included $196 million in one-time taxes paid during the year on gains from the sale of the divested TFP business.”

Fourth Quarter
2025
Segment Results

(Dollars in millions except per share data)

Sonoco reports its financial results in two reportable segments: Consumer Packaging (“Consumer”) and Industrial Paper Packaging (“Industrial”), with all remaining businesses reported as All Other.

	Three Months Ended								Twelve Months Ended
Consumer	December 31, 2025			December 31, 2024			Change		December 31, 2025			December 31, 2024			Change
Net sales1	$	1,142		$	705		62.1	%	$	4,874		$	2,532		92.5	%
Segment operating profit1	$	117		$	66		77.0	%	$	627		$	295		112.6	%
Segment operating profit margin1		10.2	%		9.4	%				12.9	%		11.6	%
Segment Adjusted EBITDA1, 2	$	174		$	100		74.9	%	$	837		$	405		106.8	%
Segment Adjusted EBITDA margin1, 2		15.2	%		14.1	%				17.2	%		16.0	%

• Consumer segment net sales grew 62.1%, attributable to Metal Packaging EMEA following the acquisition of Eviosys, price increases implemented to offset the effects of inflation and tariffs, and the favorable impact of foreign exchange rates. These increases were partially offset by the impact of divestitures and softer volumes in the rigid paper packaging business.
• Segment operating profit and segment adjusted EBITDA grew primarily as a result of profits from Metal Packaging EMEA partially offset by the softer volumes in the rigid paper packaging business.

	Three Months Ended								Twelve Months Ended
Industrial	December 31, 2025			December 31, 2024			Change		December 31, 2025			December 31, 2024			Change
Net sales	$	568		$	571		—	%	$	2,299		$	2,349		(2.1	)%
Segment operating profit	$	70		$	69		2.3	%	$	312		$	272		15.0	%
Segment operating profit margin		12.4	%		12.0	%				13.6	%		11.6	%
Segment Adjusted EBITDA2	$	103		$	102		1.3	%	$	441		$	397		11.0	%
Segment Adjusted EBITDA margin2		18.2	%		17.9	%				19.2	%		16.9	%

• Industrial segment net sales remained relatively flat at $568 million, as year-over-year price gains were offset by the loss of sales from the 2024 divestiture of two production facilities in China and modest volume declines across the segment.
• Segment operating profit margin was 12.4%, up slightly from the prior period, and adjusted EBITDA margin increased slightly to 18.2% as productivity from certain procurement savings, production efficiencies, and fixed cost reduction initiatives were only partially offset by lower volume/mix.

	Three Months Ended								Twelve Months Ended
All Other	December 31, 2025			December 31, 2024			Change		December 31, 2025			December 31, 2024			Change
Net sales	$	57		$	88		(34.9	)%	$	345		$	424		(18.6	)%
Operating profit	$	7		$	5		47.6	%	$	51		$	53		(4.6	)%
Operating profit margin		13.1	%		5.8	%				14.7	%		12.6	%
Adjusted EBITDA2	$	9		$	8		10.5	%	$	60		$	65		(8.7	)%
Adjusted EBITDA margin2		15.3	%		9.0	%				17.2	%		15.4	%

• Net sales declined due to the divestiture of ThermoSafe along with lower volume from industrial plastics.
• Operating profit and adjusted EBITDA improved 47.6% and 10.5%, respectively, year-over-year as solid productivity from certain procurement savings, production efficiencies, and fixed cost reduction initiatives offset lower volumes from industrial plastics.
• The Company will continue to simplify its operating and reporting structure in 2026 and will only report its results in two segments, Consumer Packaging and Industrial Paper Packaging. The Company’s industrial plastics packaging business, which was the only remaining business in All Other, will be included in the Industrial Paper Packaging segment. The Company believes this reporting structure appropriately represents the management of its business portfolio going forward.

¹Excludes results of discontinued operations.
²Segment and All Other adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. See the Company’s reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures later in this release.

Balance Sheet and Cash Flow Highlights

• Cash and cash equivalents were $378 million as of December 31, 2025, compared to $443 million, including discontinued operations, as of December 31, 2024, with the decrease primarily related to changes in net working capital and net debt reduction.
• Total debt and net debt were $4.3 billion and $3.9 billion, respectively, as of December 31, 2025, reflecting decreases of $2.7 billion and $2.7 billion, respectively, compared to December 31, 2024, including discontinued operations. These decreases were primarily related to the repayment of borrowings under the Company’s term loan facility using proceeds from the sales of TFP and ThermoSafe.
• On December 31, 2025, the Company had available liquidity of $1.6 billion, comprising available borrowing capacity under its revolving credit facility of $1.3 billion and cash on hand.
• Cash flow from operating activities for the period ended December 31, 2025 was an inflow of $690 million, compared to an inflow of $834 million in the same period of 2024. The main driver of the year-over-year change in operating cash flow was the increased need for working capital during the year related to Metal Packaging EMEA.
• Capital expenditures, net of proceeds from sales of fixed assets, for 2025 were $297 million, compared to $378 million last year.
• Free Cash Flow for 2025 was $393 million compared to $456 million 2024. Free Cash Flow is a non-GAAP financial measure. See the Company’s definition of Free Cash Flow, the explanation as to why it is used, and the reconciliation to net cash provided by operating activities later in this release.
• Dividends paid during the twelve months ended December 31, 2025 increased to $208 million compared to $203 million in the same period of the prior year.

Guidance

⁽¹⁾
        

Full-Year 2026

• Net Revenue: $7.25 billion to $7.75 billion
• Adjusted EPS⁽²⁾: Adjusted to $5.80 to $6.20 per diluted share
• Adjusted EBITDA⁽²⁾: $1.25 billion to $1.35 billion
• Cash flow from operating activities: $700 million to $800 million, including projected payments of taxes on gains from divestitures and restructuring costs

Commenting on Sonoco’s outlook, Joachimczyk said, “Excluding results from divested businesses in 2025, we are targeting a 20% improvement in adjusted earnings in 2026. In addition to our planned growth initiatives, we are working to achieve our financial targets by implementing a profitability performance plan which is focused on driving significant costs savings over the next three years through operational improvement, commercial excellence and structural transformation.”

Coker concluded, “Over the past several years, we have aligned and scaled our portfolio around the strengths of Sonoco’s core metal and paper consumer and industrial packaging businesses. As a result of this transformation, we significantly grew our top-line and bottom-line while expanding margins and generating significant normalized cash flow. We believe our foundation has the potential to deliver improved financial performance in 2026 and beyond. While we expect to face an uncertain market environment near term, we believe we can deliver on our strategic priorities by driving sustainable growth, further expanding margins and efficiently allocating capital by investing in ourselves through technology and innovation, maintaining a strong balance sheet and returning capital to shareholders.”

⁽¹⁾Although the Company believes the assumptions reflected in the range of guidance are reasonable, given the uncertainty regarding the future performance of the overall economy, the effects of tariffs, trade policy and inflation, the challenges in global supply chains, potential changes in raw material prices, other costs, and the Company’s effective tax rate, as well as other risks and uncertainties, including those related to the integration of Eviosys and described below, actual results could vary substantially. Further information can be found in the section entitled “Forward-looking Statements” in this release.

⁽²⁾ Full year 2026 GAAP guidance is not provided in this release due to the likely occurrence of one or more of the following, the timing and magnitude of which we are unable to reliably forecast without unreasonable efforts: restructuring costs and restructuring-related impairment charges, acquisition/divestiture-related costs, gains or losses from the sale of businesses and the income tax effects of these items and/or other income tax-related events. These items could have a significant impact on the Company’s future GAAP financial results. Accordingly, quantitative reconciliations of Adjusted EPS and Adjusted EBITDA guidance and net debt/Adjusted EBITDA targets to the nearest comparable GAAP measures have been omitted in reliance on the exception provided by Item 10 of Regulation S-K.        

Investor Day Conference Call Webcast

The Company is hosting an Investor Day meeting on Tuesday, February 17, 2026, at the Lotte New York Palace (455 Madison Avenue, New York, NY) starting at 8:00 a.m. Eastern Time. Management will provide prepared remarks, slide presentations and host a question-and-answer session that will review its 2025 Fourth Quarter and Full-year Results along with a discussion of strategy and financial targets. A live audio webcast of the meeting along with supporting materials will be available on the Sonoco Investor Relations website at https://investor.sonoco.com/. A webcast replay will be available on the Company’s website for at least 30 days following the call.

Time:	Tuesday, February 17, 2026, at 8:00 a.m. Eastern Time
Audience Dial-In:	To listen via telephone, please register in advance at: https://registrations.events/direct/Q4I122820 After registration, all telephone participants will receive the dial-in number along with a unique PIN number that can be used to access the call.
Webcast Link:	https://events.q4inc.com/attendee/160534306

Contact Information:

Roger Schrum
Head of Investor Relations and Communications
[email protected] 
843-339-6018

About Sonoco

Sonoco (NYSE: SON) is a global leader in high-value sustainable metal and paper consumer and industrial packaging. With sales of $7.5 billion in 2025, the Company has approximately 22,000 employees working in 265 operations in 37 countries, serving some of the world’s best-known brands. Guided by our purpose of Better Packaging. Better Life., we strive to foster a culture of innovation, collaboration and excellence to provide solutions that better serve all our stakeholders and support a more sustainable future. Sonoco was proudly named one of the World’s Most Admired Companies by Fortune in 2026 as well as America’s Most Trustworthy and Responsible Companies by Newsweek and USA Today’s Climate Leaders in 2025. For more information on the Company, visit our website at www.sonoco.com.

Forward-looking Statements

Statements included herein that are not historical in nature, are intended to be, and are hereby identified as “forward- looking statements” for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. In addition, the Company and its representatives may from time to time make other oral or written statements that are also “forward-looking statements.” Words such as “achieve,” “anticipate,” “believe,” “can,” “continue,” “continuing,” “could,” “deliver,” “drive,” “enhance,” “estimate,” “expect,” “forecast,” “focus,” “future,” “goal,” “guidance,” “improvement,” “intend,” “likely,” “maintain,” “may,” “might,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “project,” “projected,” “remain,” “seek,” “should,” “strategy,” “target,” “will,” “would,” “working,” or the negative thereof, and similar expressions identify forward-looking statements.

Forward-looking statements in this communication include statements regarding, but not limited to: the Company’s future operating and financial performance, including full year 2026 outlook and the anticipated drivers thereof, capital spending in 2026, cash flow in 2026, and projected payments of taxes; the Company’s ability to deliver on its strategic priorities; the Company’s ability to improve its competitive position and drive cost savings, including through its profitability performance plan; price/cost, customer demand and volume outlook; the effectiveness of and expected benefits from the Company’s strategy and strategic initiatives, including with respect to portfolio simplification, integration and capital allocation priorities; the Company’s expectations about its integrated structure to enhance its go-to-market strategy, focus its technology expertise and drive additional synergies across its global channels; the effects of the changing macroeconomic environment, including trade policies and tariffs, market conditions and interest costs on the Company, its supply chain and its customers, and the Company’s ability to manage risks related thereto; and the Company’s ability to generate long-term shareholder value and return capital to shareholders.

Such forward-looking statements are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management. Such information includes, without limitation, discussions as to guidance and other estimates, perceived opportunities, expectations, beliefs, plans, strategies, goals and objectives concerning our future financial and operating performance. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.

Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements.

Such risks, uncertainties and assumptions include, without limitation, those related to: the Company’s ability to execute on its strategy, including with respect to the integration of the Eviosys operations, divestitures, cost management, productivity improvements, restructuring and capital expenditures, and achieve the benefits it expects therefrom; conditions in the credit markets; the ability to retain key employees and successfully integrate Eviosys; the ability to realize estimated cost savings, synergies or other anticipated benefits of the Eviosys acquisition, or that such benefits may take longer to realize than expected; diversion of management’s attention; the potential impact of the consummation of the Eviosys acquisition on relationships with clients and other third parties; lower-than-projected financial performance of the Company’s European business, including as a result of loss or reduction in business from key customers, changes in our pricing model, or adverse changes in the macroeconomic or competitive environment in European markets; risks related to the impairment of goodwill and other intangible; the operation of new manufacturing capabilities; the Company’s ability to achieve anticipated cost and energy savings; the availability, transportation and pricing of raw materials, energy and transportation, including the impact of changes in tariff or other trade policies or sanctions and escalating trade wars, and the impact of war, general regional instability and other geopolitical tensions (such as the ongoing conflict between Russia and Ukraine, as well as the economic sanctions related thereto, and uncertainty in the Middle East), and the Company’s ability to continue to pass raw material, energy and transportation price increases and surcharges through to customers or otherwise manage these commodity pricing risks; the costs of labor; the effects of inflation, changes related to tariffs or other trade policies and global regulations, as well as the overall uncertainty surrounding international trade relations; fluctuations in consumer demand, volume softness, and other macroeconomic factors on the Company and the industries in which it operates and that it serves; the impact of changing laws and regulations, in the United States, on the Company; the Company’s ability to meet its environmental, sustainability and similar goals and other social and governance goals, including challenges in implementation thereof; and the other risks, uncertainties and assumptions discussed in the Company’s filings with the Securities and Exchange Commission, including its most recent reports on Forms 10-K and 10-Q, particularly under the heading “Risk Factors.” The Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur.

References to our Website Address

References to our website address and domain names throughout this release are for informational purposes only, or to fulfill specific disclosure requirements of the Securities and Exchange Commission’s rules or the New York Stock Exchange Listing Standards. These references are not intended to, and do not, incorporate the contents of our website by reference into this release.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(Dollars and shares in thousands except per share data)
		Three Months Ended								Twelve Months Ended
		December 31, 2025				December 31, 2024				December 31, 2025				December 31, 2024
Net sales		$	1,767,976			$	1,363,276			$	7,518,753			$	5,305,365
Cost of sales			1,420,878				1,080,303				5,944,340				4,166,132
Gross profit			347,098				282,973				1,574,413				1,139,233
Selling, general and administrative expenses			213,376				220,479				862,180				723,833
Restructuring/Asset impairment (income)/charges, net			(5,506	)			10,248				66,215				65,370
Gain/(Loss) on divestiture of business and other assets			381,014				3,840				371,717				(23,452	)
Operating profit			520,242				56,086				1,017,735				326,578
Non-operating pension costs			3,058				3,431				12,215				13,842
Interest expense			51,848				53,138				233,485				172,620
Interest income			4,443				15,794				20,547				27,570
Other expense, net			(6,864	)			(110,067	)			(27,481	)			(104,200	)
Income/(Loss) from continuing operations before income taxes			462,915				(94,756	)			765,101				63,486
Provision for/(Benefit from) income taxes			115,222				(34,637	)			183,586				5,509
Income/(Loss) before equity in earnings of affiliates			347,693				(60,119	)			581,515				57,977
Equity in earnings of affiliates, net of tax			2,312				3,370				9,523				9,588
Net income/(loss) from continuing operations			350,005				(56,749	)			591,038				67,565
Net (loss)/income from discontinued operations			(17,372	)			13,256				412,348				96,375
Net income/(loss)			332,633				(43,493	)			1,003,386				163,940
Net (income)/loss from continuing operations attributable to noncontrolling interests			(392	)			579				(375	)			180
Net income from discontinued operations attributable to noncontrolling interests			—				(46	)			—				(171	)
Net income/(loss) attributable to Sonoco		$	332,241			$	(42,960	)		$	1,003,011			$	163,949
Weighted average common shares outstanding – diluted			99,729				98,700				99,571				99,290
Diluted earnings/(loss) from continuing operations per common share		$	3.50			$	(0.57	)		$	5.93			$	0.68
Diluted (loss)/earnings from discontinued operations per common share			(0.17	)			0.13				4.14				0.97
Diluted earnings/(loss) attributable to Sonoco per common share		$	3.33			$	(0.44	)		$	10.07			$	1.65
Dividends per common share		$	0.53			$	0.52			$	2.11			$	2.07

CONDENSED STATEMENTS OF INCOME FOR DISCONTINUED OPERATIONS (Unaudited)
(Dollars and shares in thousands except per share data)
	Three Months Ended								Twelve Months Ended
	December 31, 2025				December 31, 2024				December 31, 2025				December 31, 2024
Net sales	$	—			$	296,663			$	320,678			$	1,291,461
Cost of sales		—				239,769				250,854				1,037,196
Gross profit		—				56,894				69,824				254,265
Selling, general, and administrative expenses		—				39,517				31,607				122,488
Restructuring/Asset impairment (income)/charges, net		—				(195	)			426				3,740
(Loss)/Gain on divestiture of business		(19,140	)			—				606,633				—
Operating (loss)/profit		(19,140	)			17,572				644,424				128,037
Other expense, net		—				—				(182	)			—
Interest expense		—				10,373				24,911				13,396
Interest income		—				316				281				1,668
(Loss)/Income from discontinued operations before income taxes		(19,140	)			7,515				619,612				116,309
(Benefit from)/Provision for income taxes		(1,768	)			(5,741	)			207,264				19,934
Net (loss)/income from discontinued operations		(17,372	)			13,256				412,348				96,375
Net income from discontinued operations attributable to noncontrolling interests		—				(46	)			—				(171	)
Net (loss)/income attributable to discontinued operations	$	(17,372	)		$	13,210			$	412,348			$	96,204
Weighted average common shares outstanding – diluted		99,729				98,700				99,571				99,290
Diluted (loss)/earnings from discontinued operations per common share	$	(0.17	)		$	0.13			$	4.14			$	0.97

FINANCIAL SEGMENT INFORMATION (Unaudited)
(Dollars in thousands)
		Three Months Ended								Twelve Months Ended
		December 31, 2025				December 31, 2024				December 31, 2025				December 31, 2024
Net sales:
	Consumer Packaging	$	1,142,419			$	704,834			$	4,874,291			$	2,531,852
	Industrial Paper Packaging		568,316				570,576				2,299,233				2,349,488
	Total reportable segments		1,710,735				1,275,410				7,173,524				4,881,340
	All Other		57,241				87,866				345,229				424,025
	Net sales	$	1,767,976			$	1,363,276			$	7,518,753			$	5,305,365
Operating profit:
	Consumer Packaging	$	116,811			$	65,997			$	626,920			$	294,832
	Industrial Paper Packaging		70,242				68,646				312,454				271,654
	Segment operating profit		187,053				134,643				939,374				566,486
	All Other		7,476				5,066				50,813				53,278
	Corporate
	Restructuring/Asset impairment income/(charges), net		5,506				(10,248	)			(66,215	)			(65,370	)
	Amortization of acquisition intangibles		(47,243	)			(25,599	)			(182,431	)			(78,595	)
	Gain/(Loss) on divestiture of business		381,014				3,840				371,717				(23,452	)
	Acquisition, integration, and divestiture-related costs		(6,413	)			(48,400	)			(54,158	)			(91,600	)
	Other corporate costs		(7,585	)			(12,585	)			(35,242	)			(46,675	)
	Other operating income/(charges), net		434				9,369				(6,123	)			12,506
	Operating profit	$	520,242			$	56,086			$	1,017,735			$	326,578

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(Dollars in thousands)
	Twelve Months Ended
	December 31, 2025				December 31, 2024
Net income	$	1,003,386			$	163,940
Net (gain)/loss on divestiture of business, disposition of assets, and asset impairments		(988,449	)			34,412
Depreciation and amortization		519,356				374,859
Pension and postretirement plan contributions, net of non-cash expense		(4,438	)			(2,156	)
Changes in working capital		(70,563	)			128,109
Changes in tax accounts		103,226				(66,984	)
Other operating activity		127,264				201,665
Net cash provided by operating activities		689,782				833,845
Purchases of property, plant and equipment, net		(297,055	)			(377,586	)
Proceeds from the sale of business, net		2,470,145				80,996
Cost of acquisitions, net of cash acquired*		16,528				(3,793,569	)
Net debt (repayments)/proceeds		(2,763,976	)			3,890,785
Cash dividends		(208,106	)			(203,492	)
Payments for share repurchases		(10,930	)			(9,246	)
Other inflow/(outflow), including effects of exchange rates on cash		38,950				(130,610	)
Net (decrease)/increase in cash and cash equivalents		(64,662	)			291,123
Cash and cash equivalents at beginning of period		443,060				151,937
Cash and cash equivalents at end of period	$	378,398			$	443,060
*During 2025, the Company received $16,528 in a final net working capital settlement related to the acquisition of Eviosys.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollars in thousands)
			December 31, 2025				December 31, 2024
Assets
Current Assets:
	Cash and cash equivalents		$	378,398			$	431,010
	Trade accounts receivable, net of allowances			842,810				907,526
	Other receivables			178,755				175,877
	Inventories			1,121,009				1,016,139
	Prepaid expenses			125,352				197,134
	Current assets of discontinued operations			—				450,874
		Total Current Assets		2,646,324				3,178,560
Property, plant and equipment, net				2,797,800				2,718,747
Goodwill				2,511,611				2,525,657
Other intangible assets, net				2,683,474				2,586,698
Right of use asset-operating leases				307,450				307,688
Deferred income taxes and other assets				215,675				226,130
Noncurrent assets of discontinued operations				—				964,310
		Total Assets	$	11,162,334			$	12,507,790
Liabilities and Equity
Current Liabilities:
	Payable to suppliers, accrued expenses and other payables		$	1,861,904			$	1,734,955
	Notes payable and current portion of long-term debt			537,952				2,054,525
	Accrued taxes			128,821				6,755
	Current liabilities of discontinued operations			—				242,056
		Total Current Liabilities		2,528,677				4,038,291
Long-term debt, net of current portion				3,788,973				4,985,496
Noncurrent operating lease liabilities				263,192				258,735
Pension and other postretirement benefits				177,976				180,827
Deferred income taxes and other liabilities				771,684				644,317
Noncurrent liabilities of discontinued operations				—				113,911
		Total Liabilities		7,530,502				10,221,577
		Total Equity		3,631,832				2,286,213
		Total Liabilities and Equity	$	11,162,334			$	12,507,790

NON-GAAP FINANCIAL MEASURES

The Company’s results, determined in accordance with U.S. generally accepted accounting principles, are referred to as “as reported” or “GAAP” results. The Company uses certain financial performance measures, both internally and externally, that are not in conformity with GAAP (referred to as “non-GAAP financial measures”) to assess and communicate the financial performance of the Company. These non-GAAP financial measures, which are identified using the term “Adjusted” (for example, “Adjusted Operating Profit,” “Adjusted Net Income Attributable to Sonoco,” and “Adjusted Diluted EPS”), reflect adjustments to the Company’s GAAP operating results to exclude amounts, including the associated tax effects where applicable, relating to:

• restructuring/asset impairment charges¹;
• acquisition, integration and divestiture-related costs;
• gains or losses from the divestiture of businesses;
• losses from the early extinguishment of debt;
• non-operating pension costs;
• amortization expense on acquisition intangibles;
• changes in last-in, first-out (“LIFO”) inventory reserves;
• certain income tax events and adjustments;
• derivative gains/losses;
• other non-operating income and losses; and
• certain other items, if any.

_{¹Restructuring and restructuring-related asset impairment charges are a recurring item as the Company’s restructuring programs usually require several years to fully implement, and the Company is continually seeking to take actions that could enhance its efficiency. Although recurring, these charges are subject to significant fluctuations from period to period due to the varying levels of restructuring activity, the inherent imprecision in the estimates used to recognize the impairment of assets, and the wide variety of costs and taxes associated with severance and termination benefits in the countries in which the restructuring actions occur.}

The Company’s management believes the exclusion of the amounts related to the above-listed items improves the period-to-period comparability and analysis of the underlying financial performance of the business.

In addition to the “Adjusted” results described above, the Company also uses Adjusted EBITDA, Segment Adjusted EBITDA, Segment Adjusted EBITDA Margin, Net Debt and Net Leverage. Adjusted EBITDA is defined as net income excluding the following: interest expense; interest income; provision for income taxes; depreciation and amortization expense; non-operating pension costs; net income/loss attributable to noncontrolling interests; restructuring/asset impairment charges; changes in LIFO inventory reserves; gains/losses from the divestiture of businesses; acquisition, integration and divestiture-related costs; other income; derivative gains/losses; and other non-GAAP adjustments, if any, that may arise from time to time. Segment Adjusted EBITDA is defined as segment operating profit plus depreciation and amortization expense and equity in earnings of affiliates, net of tax. Segment Adjusted EBITDA Margin is defined as Segment Adjusted EBITDA divided by segment net sales. Net Debt is defined as the total of the Company’s short and long-term debt less cash and cash equivalents. Net Leverage is defined as the Company’s Net Debt divided by Adjusted EBITDA.

Segment Adjusted EBITDA is reconciled to the closest GAAP measure of segment profitability, segment operating profit as the Company does not calculate net income by segment. Segment operating profit is the measure of segment profit or loss reported to the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing their performance in accordance with Accounting Standards Codification 280 – “Segment Reporting,” as prescribed by the Financial Accounting Standards Board.

Segment results, which are reviewed by the Company’s management to evaluate segment performance, do not include the following: restructuring/asset impairment charges; amortization of acquisition intangibles; acquisition, integration and divestiture-related costs; changes in LIFO inventory reserves; gains/losses from the sale of businesses; gains/losses from derivatives; or certain other items, if any, the exclusion of which the Company believes improves the comparability and analysis of the ongoing operating performance of the business. Accordingly, the term “segment operating profit” is defined as the segment’s portion of “operating profit” excluding those items. All other general corporate expenses have been allocated as operating costs to each of the Company’s reportable segments and All Other, except for costs related to discontinued operations.

The Company’s non-GAAP financial measures are not calculated in accordance with, nor are they an alternative for, measures conforming to GAAP, and they may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles.

The Company presents these non-GAAP financial measures to provide investors with information to evaluate Sonoco’s operating results in a manner similar to how management evaluates business performance. The Company consistently applies its non-GAAP financial measures presented herein and uses them for internal planning and forecasting purposes, to evaluate its ongoing operations, and to evaluate the ultimate performance of management and each business unit against plans/forecasts. In addition, these same non-GAAP financial measures are used in determining incentive compensation for the entire management team and in providing earnings guidance to the investing community.

Material limitations associated with the use of such measures include that they do not reflect all period costs included in operating expenses and may not be comparable with similarly named financial measures of other companies. Furthermore, the calculations of these non-GAAP financial measures are based on subjective determinations of management regarding the nature and classification of events and circumstances that the investor may find material and view differently.

To compensate for any limitations in such non-GAAP financial measures, management believes that it is useful in evaluating the Company’s results to review both GAAP information, which includes all of the items impacting financial results, and the related non-GAAP financial measures that exclude certain elements, as described above. Further, Sonoco management does not, nor does it suggest that investors should, consider any non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Whenever reviewing a non-GAAP financial measure, investors are encouraged to review and consider the related reconciliation to understand how it differs from the most directly comparable GAAP measure.

Free Cash Flow

The Company uses the non-GAAP financial measure of “Free Cash Flow,” which it defines as cash flow from operations minus net capital expenditures. Net capital expenditures are defined as capital expenditures minus proceeds from the disposition of capital assets. Free Cash Flow may not represent the amount of cash flow available for general discretionary use because it excludes non-discretionary expenditures, such as mandatory debt repayments and required settlements of recorded and/or contingent liabilities not reflected in cash flow from operations.

QUARTERLY RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

The following tables reconcile the Company’s non-GAAP financial measures to their most directly comparable GAAP financial measures in the Company’s Condensed Consolidated Statements of Income for the three-month periods ended December 31, 2025 and December 31, 2024.

Adjusted Operating Profit, Adjusted Income from Continuing Operations Before Income Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income Attributable to Sonoco, and Adjusted Diluted EPS

	For the three-month period ended December 31, 2025
Dollars in thousands, except per share data	Operating Profit			Income from Continuing Operations Before Income Taxes			Provision for Income Taxes			Net Income Attributable to Sonoco			Diluted EPS
As Reported (GAAP)1	$	520,242		$	462,915		$	115,222		$	332,241		$	3.33
Acquisition, integration and divestiture-related costs2		6,413			6,386			872			5,514			0.06
Changes in LIFO inventory reserves		(1,697	)		(1,697	)		(29	)		(1,668	)		(0.02	)
Amortization of acquisition intangibles		47,243			47,243			10,031			37,212			0.37
Restructuring/Asset impairment (income)/charges, net		(5,506	)		(5,495	)		690			(6,201	)		(0.06	)
Gain on divestiture of business3		(381,014	)		(381,014	)		(77,758	)		(285,884	)		(2.87	)
Non-operating pension costs		—			3,058			733			2,325			0.02
Net losses from derivatives		490			490			118			372			0.01
Other adjustments4		773			773			(20,033	)		20,806			0.21
Total adjustments		(333,298	)		(330,256	)		(85,376	)		(227,524	)		(2.28	)
Adjusted	$	186,944		$	132,659		$	29,846		$	104,717		$	1.05
Due to rounding, individual items may not sum appropriately.

¹ Operating profit, income from continuing operations before income taxes, and provision for income taxes exclude results related to discontinued operations of $(19,140), $(19,140) and $(1,768), respectively.
² Acquisition, integration and divestiture-related costs relate primarily to the Company’s December 2024 acquisition of Eviosys, the April 2025 divestiture of TFP and the November 2025 divestiture of ThermoSafe.
³ Gain on divestiture of business associated with Operating Profit primarily consists of the gain on the sale of ThermoSafe. Net Income Attributable to Sonoco reflects the after-tax impact of the gain on the sale of ThermoSafe and the net working capital settlement for TFP.
⁴ Other adjustments include discrete tax items primarily related to an adjustment of $10,479 arising from the initial integration of the acquired SMP EMEA’s legal entity structure, as well as the recording of a deferred tax liability of $11,449 related to the foreign exchange effects on undistributed earnings of SMP EMEA not considered to be indefinitely reinvested.

	For the three-month period ended December 31, 2024
Dollars in thousands, except per share data	Operating Profit			(Loss)/Income from Continuing Operations Before Income Taxes			(Benefit from)/ Provision for Income Taxes			Net (Loss)/ Income Attributable to Sonoco			Diluted EPS
As Reported (GAAP)1	$	56,086		$	(94,756	)	$	(34,637	)	$	(42,960	)	$	(0.44	)
Acquisition, integration and divestiture-related costs2		48,400			51,786			11,622			51,537			0.52
Changes in LIFO inventory reserves		(6,066	)		(6,066	)		(1,521	)		(4,545	)		(0.05	)
Amortization of acquisition intangibles		25,599			25,599			6,075			24,182			0.24
Restructuring/Asset impairment charges, net		10,248			10,248			2,445			7,923			0.08
Gain on divestiture of business		(3,840	)		(3,840	)		39			(3,879	)		(0.04	)
Other expenses, net3		—			110,067			27,670			82,397			0.83
Non-operating pension costs		—			3,431			819			2,612			0.03
Net gains from derivatives		(3,243	)		(3,243	)		(810	)		(2,433	)		(0.02	)
Other adjustments4		(60	)		(60	)		11,382			(15,166	)		(0.15	)
Total adjustments		71,038			187,922			57,721			142,628			1.44
Adjusted	$	127,124		$	93,166		$	23,084		$	99,668		$	1.00
Due to rounding, individual items may not sum appropriately.

¹ Operating profit, income from continuing operations before income taxes, and provision for income taxes exclude results related to discontinued operations of $17,572, $7,515 and $(5,741), respectively.
² Acquisition, integration and divestiture-related costs include net interest expense totaling $3,386, which is related to the pre-acquisition debt issuance associated with the financing of the Eviosys acquisition. This net interest expense is included in “Interest expense” in the Company’s Consolidated Statements of Income.
³ Other expenses, net primarily relate to remeasurement loss on Euro denominated cash held by the Company to close the Eviosys acquisition.
⁴ Other adjustments include discrete tax items primarily due to a $9,864 reduction in reserves for uncertain tax positions following the expiration of the applicable statute of limitations and a $5,796 tax benefit due to the recording of a deferred tax asset on the outside basis of certain held-for-sale entities, partially offset by an adjustment for hurricane-related insurance deductible losses.

Adjusted EBITDA 1
	Three Months Ended
Dollars in thousands	December 31, 2025			December 31, 2024
Net income/(loss) attributable to Sonoco	$	332,241		$	(42,960	)
Adjustments:
Interest expense		51,848			63,512
Interest income		(4,443	)		(16,110	)
Provision for/(Benefit from) income taxes		113,454			(40,378	)
Depreciation and amortization		136,733			104,168
Non-operating pension costs		3,058			3,431
Net income/(loss) attributable to noncontrolling interests		392			(533	)
Restructuring/Asset impairment (income)/charges, net		(5,506	)		10,053
Changes in LIFO inventory reserves		(1,697	)		(6,066	)
Gain on divestiture of business		(361,874	)		(3,840	)
Acquisition, integration and divestiture-related costs		6,413			63,330
Other income, net		—			110,067
Net loss/(gain) from derivatives		490			(3,243	)
Other non-GAAP adjustments		773			5,301
Adjusted EBITDA	$	271,882		$	246,732
Net Sales	$	1,767,976		$	1,363,276
Net sales related to discontinued operations	$	—		$	296,663

_{¹Adjusted EBITDA is calculated on a total Company basis, including both continuing operations and discontinued operations.}

Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
For the Three Months Ended December 31, 2025
Excludes results of discontinued operations
Dollars in thousands	Consumer			Industrial			All Other			Corporate			Total
Segment and Total Operating Profit	$	116,811		$	70,242		$	7,476		$	325,713		$	520,242
Adjustments:
Depreciation and amortization1		57,443			30,763			1,284			47,243			136,733
Other expense2		—			—			—			(6,864	)		(6,864	)
Equity in earnings of affiliates, net of tax		(83	)		2,395			—			—			2,312
Restructuring/Asset impairment (income), net3		—			—			—			(5,506	)		(5,506	)
Changes in LIFO inventory reserves4		—			—			—			(1,697	)		(1,697	)
Acquisition, integration and divestiture-related costs5		—			—			—			6,413			6,413
Gain on divestiture of business6		—			—			—			(381,014	)		(381,014	)
Net loss from derivatives7		—			—			—			490			490
Other non-GAAP adjustments		—			—			—			773			773
Segment Adjusted EBITDA	$	174,171		$	103,400		$	8,760		$	(14,449	)	$	271,882
Net Sales	$	1,142,419		$	568,316		$	57,241
Segment Operating Profit Margin		10.2	%		12.4	%		13.1	%
Segment Adjusted EBITDA Margin		15.2	%		18.2	%		15.3	%

¹Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $42,040, the Industrial segment of $5,180, and All Other of $23.
²These expenses relate to charges from third-party financial institutions related to our centralized treasury program under which the Company sells certain trade accounts receivables in order to accelerate its cash collection cycle primarily within the Consumer segment.
³Included in Corporate are restructuring/asset impairment (income)/charges associated with the Consumer segment of $16,464, and the Industrial segment of $(23,637) and All Other of $32.
⁴Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $(693) and the Industrial segment of $(1,004).
⁵Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $(510) and the Industrial segment of $95.
⁶Included in Corporate is a gain of $(381,014) from the divestiture of ThermoSafe, part of All Other.
⁷Included in Corporate are net losses from derivatives associated with the Consumer segment of $46, the Industrial segment of $425, and All Other of $19.

Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
For the Three Months Ended December 31, 2024
Excludes results of discontinued operations
Dollars in thousands	Consumer			Industrial			All Other			Corporate			Total
Segment and Total Operating Profit	$	65,997		$	68,646		$	5,066		$	(83,623	)	$	56,086
Adjustments:
Depreciation and amortization1		33,649			30,017			2,864			25,599			92,129
Equity in earnings of affiliates, net of tax		(50	)		3,420			—			—			3,370
Restructuring/Asset impairment charges, net2		—			—			—			10,248			10,248
Changes in LIFO inventory reserves3		—			—			—			(6,066	)		(6,066	)
Acquisition, integration and divestiture-related costs4		—			—			—			48,400			48,400
Gain on divestiture of business and other assets5		—			—			—			(3,840	)		(3,840	)
Net gains from derivatives6		—			—			—			(3,243	)		(3,243	)
Other non-GAAP adjustments		—			—			—			(60	)		(60	)
Segment Adjusted EBITDA	$	99,596		$	102,083		$	7,930		$	(12,585	)	$	197,024
Net Sales	$	704,834		$	570,576		$	87,866
Segment Operating Profit Margin		9.4	%		12.0	%		5.8	%
Segment Adjusted EBITDA Margin		14.1	%		17.9	%		9.0	%

¹Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $18,936, the Industrial segment of $6,451, and All Other of $212.
²Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $2,597, the Industrial segment of $(215), and All Other of $72.
³Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $(6,168) and the Industrial segment of $102.
⁴Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $9,195 and the Industrial segment of $59.
⁵Included in Corporate are losses from the divestiture of business associated with the Industrial segment of $(4,358) related to the sale of two production facilities in China and All Other of $517 related to the sale of the Protective Solutions business (“Protexic”).
⁶Included in Corporate are net gains from derivatives associated with the Consumer segment of $(577), the Industrial segment of $(2,546), and All Other of $(120).

YEAR-TO-DATE RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

The following tables reconcile the Company’s non-GAAP financial measures to their most directly comparable GAAP financial measures in the Company’s Condensed Consolidated Statements of Income for the years ended December 31, 2025 and December 31, 2024.

Adjusted Operating Profit, Adjusted Income from Continuing Operations Before Income Taxes, Adjusted Provision for Income Taxes, Adjusted Net Income Attributable to Sonoco, and Adjusted Diluted EPS

	For the twelve-month period ended December 31, 2025
Dollars in thousands, except per share data	Operating Profit			Income from Continuing Operations Before Income Taxes			Provision for Income Taxes			Net Income Attributable to Sonoco			Diluted EPS
As Reported (GAAP)1	$	1,017,735		$	765,101		$	183,586		$	1,003,011		$	10.07
Acquisition, integration and divestiture-related costs2		54,158			54,131			12,006			51,791			0.52
Changes in LIFO inventory reserves		58			58			404			(346	)		—
Amortization of acquisition intangibles		182,431			182,431			39,617			142,601			1.43
Restructuring/Asset impairment charges, net		66,215			66,226			17,204			48,908			0.49
Gain on divestiture of business3		(371,717	)		(371,717	)		(49,303	)		(729,590	)		(7.33	)
Non-operating pension costs		—			12,215			2,923			9,292			0.09
Net losses from derivatives		1,730			1,730			424			1,306			0.01
Other adjustments4		4,335			4,335			(34,489	)		41,870			0.43
Total adjustments		(62,790	)		(50,591	)		(11,214	)		(434,168	)		(4.36	)
Adjusted	$	954,945		$	714,510		$	172,372		$	568,843		$	5.71
Due to rounding, individual items may not sum appropriately.

¹ Operating profit, income from continuing operations before income taxes, and provision for income taxes exclude results related to discontinued operations of $644,424, $619,612, and $207,264, respectively.
² Acquisition, integration and divestiture-related costs relate primarily to the Company’s December 2024 acquisition of Eviosys, the April 2025 divestiture of TFP and the November 2025 divestiture of ThermoSafe.
³ Gain on divestiture of business associated with Operating Profit primarily consists of the gain on the sale of ThermoSafe. Net Income Attributable to Sonoco reflects the after-tax impact of the gains on the sales of both ThermoSafe and TFP.
⁴ Other adjustments to the provision for income taxes include the following: an expense related to the initial integration of the acquired Sonoco Metal Packaging EMEA legal entity structure of $10,479; a deferred tax liability related to the foreign exchange effects on undistributed earnings of Sonoco Metal Packaging EMEA not considered to be indefinitely reinvested of $10,289; provision-to-return and deferred remeasurement adjustments related to the divested TFP business of $5,998; and other net unfavorable tax items totaling $7,723. The impact of other adjustments on net income attributable to Sonoco primarily include items discussed herein.

	For the twelve-month period ended December 31, 2024
Dollars in thousands, except per share data	Operating Profit			Income from Continuing Operations Before Income Taxes			Provision for Income Taxes			Net Income Attributable to Sonoco			Diluted EPS
As Reported (GAAP)1	$	326,578		$	63,486		$	5,509		$	163,949		$	1.65
Acquisition, integration and divestiture-related costs2		91,600			125,169			24,281			115,602			1.16
Changes in LIFO inventory reserves		(6,263	)		(6,263	)		(1,570	)		(4,693	)		(0.05	)
Amortization of acquisition intangibles		78,595			78,595			19,170			75,614			0.76
Restructuring/Asset impairment charges, net		65,370			65,370			13,384			55,181			0.56
Loss on divestiture of business		23,452			23,452			1,499			21,953			0.22
Other expenses, net3		—			104,200			27,670			76,530			0.77
Non-operating pension costs		—			13,842			3,412			10,430			0.11
Net gains from derivatives		(7,225	)		(7,225	)		(1,811	)		(5,414	)		(0.05	)
Other adjustments4		982			982			20,566			(23,349	)		(0.24	)
Total adjustments		246,511			398,122			106,601			321,854			3.24
Adjusted	$	573,089		$	461,608		$	112,110		$	485,803		$	4.89
Due to rounding, individual items may not sum appropriately.

¹ Operating profit, income from continuing operations before income taxes, and provision for income taxes exclude results related to discontinued operations of $128,037, $116,309, and $19,934, respectively.
² Acquisition, integration and divestiture-related costs include losses on treasury lock derivative instruments, amortization of financing fees and pre-acquisition net interest expenses totaling $33,569 related to debt instruments associated with the financing of the Eviosys acquisition. These costs are included in “Interest expense” in the Company’s Consolidated Statements of Income.
³ Other expenses, net primarily relates to remeasurement loss on Euro denominated cash held by the Company to close the Eviosys acquisition.
⁴ Other adjustments include discrete tax items primarily related to a $12,638 adjustment to deferred taxes from a post-acquisition restructuring of the partitions business, a $9,864 reduction in reserves for uncertain tax positions following the expiration of the applicable statute of limitations and a $5,796 tax benefit due to the recording of a deferred tax asset on the outside basis of certain held-for-sale entities, partially offset by an adjustment for hurricane-related insurance deductible losses.

Adjusted EBITDA 1
	Twelve Months Ended
Dollars in thousands	December 31, 2025			December 31, 2024
Net income attributable to Sonoco	$	1,003,011		$	163,949
Adjustments:
Interest expense		258,396			186,015
Interest income		(20,828	)		(29,238	)
Provision for income taxes		390,850			25,443
Depreciation and amortization		519,356			374,859
Non-operating pension costs		12,215			13,842
Net income/(loss) attributable to noncontrolling interests		375			(9	)
Restructuring/Asset impairment charges, net		66,641			69,110
Changes in LIFO inventory reserves		58			(6,263	)
(Gain)/Loss on divestiture of business		(978,350	)		23,452
Acquisition, integration and divestiture-related costs		66,834			110,883
Other income, net		—			104,200
Net loss/(gain) from derivatives		1,730			(7,225	)
Other non-GAAP adjustments		3,722			6,154
Adjusted EBITDA	$	1,324,010		$	1,035,172
Net Sales	$	7,518,753		$	5,305,365
Net sales related to discontinued operations	$	320,678		$	1,291,461

¹Adjusted EBITDA is calculated on a total Company basis, including both continuing and discontinued operations.

The following tables reconcile segment operating profit, the closest GAAP measure of profitability, to segment adjusted EBITDA.

Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
For the Twelve Months Ended December 31, 2025
Excludes results of discontinued operations
Dollars in thousands	Consumer			Industrial			All Other			Corporate			Total
Segment and Total Operating Profit	$	626,920		$	312,454		$	50,813		$	27,548		$	1,017,735
Adjustments:
Depreciation and amortization1		209,618			118,889			8,729			182,431			519,667
Other expense2		—			—			—			(27,481	)		(27,481	)
Equity in earnings of affiliates, net of tax		226			9,297			—			—			9,523
Restructuring/Asset impairment charges, net3		—			—			—			66,215			66,215
Changes in LIFO inventory reserves4		—			—			—			58			58
Acquisition, integration and divestiture-related costs5		—			—			—			54,158			54,158
Gain on divestiture of business6		—			—			—			(371,717	)		(371,717	)
Net loss from derivatives7		—			—			—			1,730			1,730
Other non-GAAP adjustments		—			—			—			4,335			4,335
Segment Adjusted EBITDA	$	836,764		$	440,640		$	59,542		$	(62,723	)	$	1,274,223
Net Sales	$	4,874,291		$	2,299,233		$	345,229
Segment Operating Profit Margin		12.9	%		13.6	%		14.7	%
Segment Adjusted EBITDA Margin		17.2	%		19.2	%		17.2	%

¹Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $160,272, the Industrial segment of $21,585, and All Other of $574.
²These expenses relate to charges from third-party financial institutions related to our centralized treasury program under which the Company sells certain trade accounts receivables in order to accelerate its cash collection cycle primarily within the Consumer segment.
³Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $54,200, the Industrial segment of $8,307, and All Other of $5.
⁴Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $1,062 and the Industrial segment of $(1,004).
⁵Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $21,992 and the Industrial segment of $623.
⁶Included in Corporate are net gains on divestiture of businesses associated with All Other of $(378,014) from the sale of ThermoSafe and a gain associated with the Industrial segment of $(1,207) from the sale of a production facility in France. These gains were partially offset by losses of $5,390 related to the sale of the Company’s operations in Venezuela and $2,114 from the sale of a recycling facility in Asheville, North Carolina, both part of the Industrial segment.
⁷Included in Corporate are net losses from derivatives associated with the Consumer segment of $166, the Industrial segment of $1,497, and All Other of $67.

Segment and All Other Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation
For the Twelve Months Ended December 31, 2024
Excludes results of discontinued operations
Dollars in thousands	Consumer			Industrial			All Other			Corporate			Total
Segment and Total Operating Profit	$	294,832		$	271,654		$	53,278		$	(293,186	)	$	326,578
Adjustments:
Depreciation and amortization1		109,355			116,149			11,962			78,595			316,061
Equity in earnings of affiliates, net of tax		365			9,223			—			—			9,588
Restructuring/Asset impairment charges, net2		—			—			—			65,370			65,370
Changes in LIFO inventory reserves3		—			—			—			(6,263	)		(6,263	)
Acquisition, integration and divestiture-related costs4		—			—			—			91,600			91,600
Loss on divestiture of business and other assets5		—			—			—			23,452			23,452
Net gains from derivatives6		—			—			—			(7,225	)		(7,225	)
Other non-GAAP adjustments		—			—			—			982			982
Segment Adjusted EBITDA	$	404,552		$	397,026		$	65,240		$	(46,675	)	$	820,143
Net Sales	$	2,531,852		$	2,349,488		$	424,025
Segment Operating Profit Margin		11.6	%		11.6	%		12.6	%
Segment Adjusted EBITDA Margin		16.0	%		16.9	%		15.4	%

¹Included in Corporate is the amortization of acquisition intangibles associated with the Consumer segment of $52,144, the Industrial segment of $25,619, and All Other of $832.
²Included in Corporate are restructuring/asset impairment charges associated with the Consumer segment of $19,259, the Industrial segment of $33,923, and All Other of $1,434.
³Included in Corporate are changes in LIFO inventory reserves associated with the Consumer segment of $(5,780) and the Industrial segment of $(483).
⁴Included in Corporate are acquisition, integration and divestiture-related costs associated with the Consumer segment of $9,052 and the Industrial segment of $(3,600).
⁵Included in Corporate are net losses from the divestiture of businesses within the Industrial segment of $24,357, including a loss of $25,607 from the sale of two production facilities in China, partially offset by a gain of $(1,250) from the sale of the S3 business, and a gain on divestiture of businesses associated with All Other of $(905) related to the sale of Protexic.
⁶Included in Corporate are net gains from derivatives associated with the Consumer segment of $(1,202), the Industrial segment of $(5,174), and All Other of $(849).

FREE CASH FLOW

The reconciliation of the GAAP measure “Net cash provided by operating activities” to the non-GAAP measure “Free cash flow” is set forth in the table below:

	Twelve Months Ended
	December 31, 2025				December 31, 2024
Net cash provided by operating activities	$	689,782			$	833,845
Purchases of property, plant and equipment		(344,023	)			(393,235	)
Proceeds from the sale of assets, net		46,968				15,649
Net capital expenditures		(297,055	)			(377,586	)
Free cash flow	$	392,727			$	456,259

NET LEVERAGE

The reconciliation of the GAAP measure “Total Debt” to the non-GAAP measure of “Net Debt,” along with the inputs for calculating “Net Leverage” are set forth in the table below:

	December 31, 2025
Total Debt	$	4,326,925
Less: Cash		378,398
Net Debt	$	3,948,527
Adjusted EBITDA1	$	1,324,010
Net Leverage		3.0

¹ The reconciliation of the GAAP measure “Net income attributable to Sonoco” to the non-GAAP measure “Adjusted EBITDA” is provided herein.

GUANGZHOU, China, Feb. 17, 2026 (GLOBE NEWSWIRE) — EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), a global leader in Advanced Air Mobility (AAM) technology, announced a dual-feature aerial performance at the Hefei sub-venue of the 2026 China Media Group (CMG) Spring Festival Gala. The performance featured a formation of 16 EH216-S pilotless human-carrying eVTOL aircraft alongside a record-breaking drone light show involving 22,580 next-generation GHOSTDRONE 4.0 (“GD4.0”) unmanned aerial vehicles (“UAVs”), the performance delivered a futuristic visual spectacle supported by industry-leading flight safety and fleet orchestration technologies, offering sincere Lunar New Year wishes to a global audience.

Image: 16 EH216-S aircraft from EHang illuminate the CMG Spring Festival Gala stage

Source: Live screen capture from the CMG 2026 Spring Festival Gala

Image: 22,580 GD4.0 drones from EHang Egret at the CMG Spring Festival Gala.

Source: Live screen capture from the CMG 2026 Spring Festival Gala

Among the highlights, the 22,580 GD4.0 formation drones at the CMG 2026 Spring Festival Gala set a new world record, earning the Guinness World Records™ title for “the most multirotor/drones airborne simultaneously from a single computer.”

During the segment of“He Yun Man Jiang Huai”at the Hefei branch venue of the Spring Festival Gala, 16 EH216-Saircraft took off simultaneously and formed a perfect circular formation above the “Eye of Anhui”, the main stage in Hefei Luogang Park. Equipped with customized stage lighting modules, the aircraft illuminated the stage through safe, stable, and precisely coordinated flight，seamlessly blending the technological allure of pilotless “air taxis” with the festive atmosphere of family reunion.

The synchronized flight of 16 aircraft at the Spring Festival Gala showcases EHang’s industry leadership and professionalism in cutting-edge technological innovation sectors, including cluster Command-and-Control System, precise algorithmic control, multi-scenario adaptive flight, and professional service support.

As the world’s first pilotless human-carrying eVTOL aircraft to obtain Type Certificate (TC), Production Certificate (PC), and Standard Airworthiness Certificate (AC) from the Civil Aviation Administration of China (CAAC), and currently conducting trial operations at Luogang Park, the coordinated flight of 16 EH216-S aircraft also marked the largest simultaneous public flight of pilotless human-carrying eVTOL aircraft to date. It offered a direct showcase of China’s technological prowess in new-era civil aviation and vividly illustrated the exciting potential of the low-altitude economy within the celebratory New Year setting.

Image: 16 EH216-S completed formation flight at the Hefei Venue of the CMG Spring Festival Gala

In another segment at the Hefei branch venue of the Spring Festival Gala, a drone light show of 22,580 GD4.0 formation drones from EHang’s subsidiary, EHang Egret, took to the skies above the main stage. Forming intricate 3D animations of the sky city and the iconic horse-head walls of Hui-style architecture. Through synchronized light choreography integrated with the stage design, the drones created an immersive “aerial theater” fusing technology and culture. This performance amplified the joyous, auspicious, and harmonious spirit of the festival, immersing global viewers in a powerful visual experience. Prior to the official Guinness World Record™ attempt and the Gala, EHang Egret had successfully conducted multiple performances in Hefei Luogang Park involving over 20,000 drones simultaneously, fully demonstrating the GD4.0’s robust performance in complex environments, dynamic performance capabilities, and technological strengths in high-precision positioning and intelligent coordination.

Image: 22,580 GD4.0 drones from EHang Egret form and the iconic horse-head walls of Hui-style architecture pattern at the CMG Spring Festival Gala.

Source: Live screen capture from the CMG 2026 Spring Festival Gala

The performance venue, Hefei Luogang Park, is a multifunctional, multi-dimensional space that has become one of China’s most representative testing grounds and demonstration sites for low-altitude economy development. It currently hosts two Urban Air Mobility (UAM) centers capable of eVTOL flight services. Since March 2025, following the grant of one of China’s first Air Operator Certificates (OC) for pilotless human-carrying eVTOL aircraft by the CAAC to EHang’s local operator, Hefei HeYi Aviation, regular trial operations of the EH216-S have been conducted there. With its comprehensive infrastructure, Luogang Park is also well suited for EHang Egret to conduct routine drone light shows, gradually fostering a citywide ecosystem integrating low-altitude technology and culture.

Image: 22,580 GD4.0 drones from EHang Egret set a new world record

Mr. Wang Zhao, Chief Operating Officer of EHang, stated, “The appearance of 16 EH216-S and 22,580 GD4.0 drones in multi-aircraft formations at the CMG Spring Festival Gala showcases not only EHang’s formidable technological strength and creative commercial capabilities but also comprehensively demonstrates the adaptability and maturity of our superior command-and-control technology across diverse scenarios. This lays a solid technical foundation for the large-scale commercial operation of pilotless aircraft in low-altitude economy applications. The Guinness World Record™ achieved by EHang Egret and the Gala performance further elevate and solidify the EHang brand’s influence, providing a significant platform for public awareness and understanding of the low-altitude economy. Driven by our long-term commitment to continuous innovation and technological iteration, EHang’s pilotless aircraft are designed not only for major events displays but for practical applications in passenger transportation, logistics, firefighting and emergency response, smart city management, and aerial media services. Through core technology R&D and the implementation of commercial services, we aim to bring scalable Chinese low-altitude solutions to global markets and enable these new technologies to serve a broader consumer base.”

Watch the video of the new world record of 22,580 GD4.0 drones by EHang Egret: https://youtu.be/9B4ETNspxMc

Watch the video of 16 EH216-S and 22,580 GD4.0 Drones at the CMG Spring Festival Gala: https://youtu.be/9es9jzMR_6s

About EHang

EHang (Nasdaq: EH) is the world’s leading advanced air mobility (“AAM”) technology platform company, committed to making safe, autonomous, and eco-friendly air mobility accessible to everyone. The company develops and manufactures a diversified portfolio of pilotless electric vertical take-off and landing (“eVTOL”) aircraft for a wide range of use cases, including aerial tourism, intra-city transport, intercity travel, logistics and emergency firefighting. Its flagship model, EH216-S, has obtained the world’s first type certificate, production certificate and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China, and is now commercially operated under the country’s first Air Operator Certificates for human-carrying eVTOL services. Complementing this, EHang’s VT35 expands its reach into long-range and intercity scenarios, supporting the development of a multi-tiered low-altitude mobility network. By integrating advanced autonomous technologies with scalable operational infrastructure, EHang is redefining how people and goods move—across cities, regions, and natural barriers—shaping the future of air mobility. For more information, please visit www.ehang.com.

About EHang Egret

Founded in July 2016, EHang Egret is a subsidiary of EHang that focuses on aerial media drone technology. Using centimeter-level positioning technology, EHang Egret turns the night sky into a beautiful canvas—bringing technology and art together. EHang Egret is building the world’s leading global aerial media platform for sky-scaping, delivering stunning drone light shows for brand events, large celebrations, and sky theaters. EHang Egret continues to light up famous landmarks and tourist destinations around the world with unforgettable nighttime displays.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about management’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause EHang’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

Media Contact: [email protected]

Investor Contact: [email protected]

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/232079e5-cc5d-42c4-890d-08f51484d57a
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e234ace-eaf7-492f-8352-bd7fe348cd72
https://www.globenewswire.com/NewsRoom/AttachmentNg/c9f76c3a-92e3-4394-9d48-f63e43caae8f
https://www.globenewswire.com/NewsRoom/AttachmentNg/30520663-7d99-4716-bce3-3a97c0c5e932
https://www.globenewswire.com/NewsRoom/AttachmentNg/65341a8e-b7bb-43aa-8bc4-e1bf3be8a6cd
https://www.globenewswire.com/NewsRoom/AttachmentNg/b701dc3e-149f-4d8b-a653-97db7dc417f5
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Maranello (Italy), February 16 2026 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 250 million share buyback program announced on December 16, 2025, as the first tranche of the multi-year share buyback program of approximately Euro 3.5 billion expected to be executed by 2030 in line with the disclosure made during the 2025 Capital Markets Day (the “First Tranche”), the additional common shares – reported in aggregate form, on a daily basis – on the Euronext Milan (EXM) as follows:

Trading Date (dd/mm/yyyy)	Stock Exchange	Number of common shares purchased	Average price per share excluding fees (€)	Consideration excluding fees (€)
09/02/2026	EXM	10,000	280.9261	2,809,261.00
10/02/2026	EXM	3,588	289.4664	1,038,605.44
11/02/2026	EXM	5,397	316.5043	1,708,173.71
12/02/2026	EXM	4,889	326.7930	1,597,690.98
13/02/2026	EXM	6,419	324.3705	2,082,134.24
Total	–	30,293	304.8845	9,235,865.37

        
Since the announcement of such First Tranche till February 13, 2026, the total invested consideration has been:

• Euro 81,975,746.99 for No. 276,643 common shares purchased on the EXM

As of February 13, 2026 the Company held in treasury No. 16,921,249 common shares, net of shares assigned under the Company’s equity incentive plan, corresponding to 8.73% of the total issued common shares. Including the special voting shares, the Company held in treasury 9.18% of the total issued share capital.

Since January 5, 2026, start date of the multi-year share buyback program of approximately Euro 3.5 billion announced during the 2025 Capital Markets Day, until February 13, 2026, the Company has purchased a total of 276,643 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 81,975,746.99.

A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (https://www.ferrari.com/en-EN/corporate/buyback-programs).

For further information:
Media Relations
tel.: +39 0536 949337
Email: [email protected]

Attachment

• FNV BB PR 16 February 2026 ENG