CANPACK COMPLETES EXIT FROM RUSSIA

Wayne, Pennsylvania, September 10, 2026 – CANPACK Group, Inc. today announced that it has completed its full exit from Russia through the sale of its remaining nominal shareholdings in its former Russian operations to a third-party buyer.       

As previously reported, on December 31, 2025, CANPACK’s operations in Russia were placed under external administration by decree of the President of the Russian Federation. As a result, CANPACK lost all financial, operational and management control over its Russian businesses, assets and personnel, although certain CANPACK subsidiaries remained nominal shareholders of the Russian businesses. CANPACK subsequently deconsolidated its former Russian operations, classified them as discontinued operations, and recorded a US GAAP financial loss of $354.7 million (an amount far below our estimation of the then fair market value).

Following the above, CANPACK, through those subsidiaries, entered into an agreement to sell those shareholdings to a third-party buyer for gross proceeds of $122 million. Following receipt of all required governmental and regulatory approvals, the sale was completed on September 10, 2026.

As a result of the foregoing, the loss previously recorded by CANPACK will be partially reduced, CANPACK will no longer have a presence in Russia, and its former Russian operations will no longer operate under the CANPACK name or brand.

About CANPACK Group

CANPACK Group, Inc., part of Giorgi Global Holdings, Inc., is a global manufacturer of aluminum beverage cans and packaging solutions for the food and beverage industries, as well as glass bottles and metal closures. CANPACK employs approximately 8,500 people worldwide and has operations in 15 countries. 

For more information, visit www.canpack.com.

Contacts:

CANPACK IR team

Erin Krzeminski
Group Treasurer & Investor Relations Director

Marta Kopcik
Group Communications Manager

Email: IR@canpack.com

CANPACK IR Advisor

Daisy Padovan — H/Advisors Maitland
Phone: +44 (0) 207 379 5151
Email: canpack@maitland.co.uk