Crown Holdings Q4 adjusted EPS $1.17, down from $1.66; 2023 guidance $6.20-$6.40 below $6.75 adjusted in 2022

The Company currently estimates full year 2023 adjusted diluted earnings per share to be in the range of $6.20 to $6.40, including a $0.40 per diluted share year over year impact from additional noncash pension and postretirement.

Net sales for the full year of 2022 were $12,943 million compared to $11,394 million in 2021, primarily due to the pass through of higher raw material costs and increased beverage sales unit volumes, which more than offset unfavorable foreign currency translation of $372 million. Page 1 of 12 News Release Corporate Headquarters 770 Township Line Road Yardley, PA 19067 Income from operations was $1,336 million for the full year 2022 compared to $1,363 million in 2021. Segment income for the full year 2022 was $1,443 million versus $1,500 million in the prior year period, primarily due to costs associated with higher inventory levels, higher energy prices and unfavorable foreign currency translation of $29 million. Interest expense was $284 million for the full year 2022 compared to $253 million in 2021 primarily due to higher interest rates. Net income attributable to Crown Holdings in 2022 was $727 million compared to a loss of $560 million in 2021. Reported diluted earnings per share

Net sales in the fourth quarter were $3,012 million compared to $3,054 million in the fourth quarter of 2021 reflecting the pass through of higher raw material costs and increased beverage sales unit volumes, offset by lower volumes in the Transit Packaging businesses and unfavorable foreign currency translation of $92 million. Income from operations was $229 million in the fourth quarter compared to $303 million in the fourth quarter of 2021. Segment income in the fourth quarter of 2022 was $292 million compared to $357 million in the prior year fourth quarter reflecting costs associated with higher inventory levels, lower cost absorption from planned inventory reductions and higher energy prices. Commenting on the quarter, Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated, “The operating environment remained challenging in the fourth quarter, as the impacts from inflation and higher interest rates adversely affected the Company's income performance. Global b