AptarGroup, Inc. Wells Fargo 21st Annual Healthcare Conference

Thank you. Okay. Thanks, Gabe, and I am first pretty excited to be with you, so thanks for the invite.

Nine days into the job and still alive, so good. As you rightly said, more than 30 years with the company in different parts of the organizations, all the three segments, working and living in different regions. I will share with you three elements. The first one being the customer centricity. I want us to continue to be perceived as the preferred partner for our customers and to develop this kind of very tight relationship. For me, that is not negotiable. I am not there to be a supplier. I am there to be a partner of choice with whom, as a customer, because we bring the right value proposition, expertise, and capabilities you are going to co-invest with. That is number one. Number two is innovation.

In that space, for me, innovation is one of the only sustainable competitive advantages of any company. For me, innovation is what will give you that ability to be perceived as a preferred partner. Number three, performance mindset, execution. I am coming with an earlier decade in pharma. When you play in the pharma space, you know that your quality of supply, your safety of supply is non-negotiable. This is the same for the other segments. When L'Oréal is waiting for a new product because they have got a new product to be introduced on the market, and they sign already with all the, I do not know, Sephora of the world that they are going to get product on time for their product launch. You better have, as a partner, to be on time with good quality product. That will be the three elements.

Me as CEO, cross-segment, I am going to be looking at where we need to really strengthen our leading position, but at the same time, where we need to look at course-correcting and to improve performance, and how we can unlock value across the organization.

Yeah. I started my listening tour, and I will continue. That listening tour is putting me in front of the business, at any level of the organizations, but also with customers- and partners.

What I will say for the two segments, there's a very strong technical capabilities. You've got people extremely committed and engaged for their business, and I had very interesting conversation around talent management, for example. People asking us to be way more agile and to accelerate some process decision approach. But when I look at the two business, there's two different realities. On one hand, beauty is outside our long-term target and outside their potential. This being said, I've seen regions that are well within the long-term target, and I could say Asia- is well within the long-term target, but also Europe.

Knowing that Europe is our largest market from a beauty perspective. Americas is a problem. LatAm, for me, is temporary. They should rapidly be back on track where they should be. The number one problem for us is really North America beauty. I am not satisfied at all with the performance over there. And we need to be way better from an execution standpoint. Everything will come down to a. You set the expectation, you have got a culture of execution with discipline and clear accountability, and sense of ownership through the organization. That is what I have seen. Closure, they have been within the long-term target. They have been off, they have been within.

We need to be reliable from an execution standpoint, and we have been facing two problems for production ramp-up and the other one was for a maintenance issue in one of our main factories. Performance is a little bit lower than the long-term target, but the top line is there, the business category, the pipeline, and the mindset. For me, I am confident that they are going to be back within their long-term target.