Here are 1-3 brief analogies for Sealed Air:

• It's like the **Kleenex** (Kimberly-Clark) or **Ziploc** (S. C. Johnson & Son) of protective packaging, famous for inventing Bubble Wrap and creating cushioning solutions for shipping.
• Think of it as the **Gore-Tex** of food packaging, providing advanced materials to preserve freshness and extend the shelf life of food products for retailers and processors.
• It's like a **3M** focused on packaging, developing innovative materials and solutions for both protective shipping and food preservation.

• Cryovac® Food Packaging Solutions: Provides materials, systems, and expertise for food safety, freshness, and extended shelf life for meat, poultry, seafood, dairy, and prepared foods.
• Protective Packaging: Offers cushioning and void fill materials, such as Bubble Wrap®, Instapak® foam, and Fill-Air® inflatable packaging, to protect goods during shipping and handling.
• Automated Packaging Systems: Designs and integrates machinery and equipment that work with their packaging materials to optimize and automate packaging processes for businesses.

Sealed Air (symbol: SEE) sells primarily to other companies, operating on a Business-to-Business (B2B) model. Due to the diverse and broad nature of its customer base across multiple industries, Sealed Air typically does not disclose specific major customer company names in its public filings. Instead, its customer base can be categorized into the following major segments:

• Food Processors and Retailers: These customers utilize Sealed Air's Cryovac® brand food packaging solutions for preserving, protecting, and extending the shelf life of various food products, including fresh red meat, poultry, seafood, processed foods, dairy products, and produce. This segment includes large-scale food manufacturing companies, food service providers, and grocery retailers that package food products for sale. Examples of companies within this broad segment could include major food corporations and grocery chains, though Sealed Air does not specify individual names as major customers.
• E-commerce and Logistics Companies: Companies engaged in online retail, shipping, and logistics depend on Sealed Air's protective packaging solutions, such as Bubble Wrap®, to safeguard products during transit. This category encompasses a wide array of online retailers, fulfillment centers, and parcel delivery services that require robust packaging to prevent damage to goods shipped directly to consumers.
• Industrial and Manufacturing Companies: Businesses across various industrial sectors, including electronics, automotive, healthcare, and general manufacturing, use Sealed Air's protective packaging and product care solutions. These products ensure the safe handling, storage, and transportation of components, finished goods, and sensitive equipment within the supply chain.

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Dustin Semach, President and Chief Executive Officer

Mr. Semach was appointed President and Chief Executive Officer of Sealed Air in February 2025. He previously served as the company's Chief Financial Officer from April 2023 to February 2025, and as Interim Co-President and Co-Chief Executive Officer from October 2023 to July 2024. Prior to joining Sealed Air, he served as the Chief Financial Officer of TTEC Holdings, Inc. and Rackspace Technology, Inc. Mr. Semach also held various leadership roles at DXC Technology Company from 2013 to 2019.

Kristen Actis-Grande, Chief Financial Officer

Ms. Actis-Grande is set to join Sealed Air as Chief Financial Officer, effective August 25, 2025. She previously served a five-year tenure as Executive Vice President and Chief Financial Officer of MSC Industrial Supply Co. Prior to MSC, she spent 17 years with Ingersoll Rand, holding various finance leadership roles of increasing scope and complexity. She holds a bachelor's degree in finance from Lehigh University and a Master of Business Administration from Indiana University's Kelley School of Business.

Emile Chammas, Senior Vice President and Chief Operating Officer

Mr. Chammas serves as Senior Vice President and Chief Operating Officer at Sealed Air. Before joining Sealed Air in November 2010, Mr. Chammas was the Vice President, Worldwide Supply Chain, for the Wm. Wrigley Jr. Company from October 2008 to October 2010. Prior to that, he held management positions in supply chain, operations, and procurement with Wm. Wrigley Jr. Company from January 2002 to October 2008.

Steven E. Flannery, President, Food

Mr. Flannery is the President of the Food segment at Sealed Air.

Byron Jason Racki, President, Protective

Mr. Racki serves as the President of the Protective segment at Sealed Air.

The accelerated global push towards truly plastic-free, reusable, or widely compostable packaging solutions, driven by tightening regulatory mandates, ambitious corporate sustainability commitments, and evolving consumer preferences. This trend poses a threat to Sealed Air's legacy business model, which heavily relies on traditional plastic-based packaging for its protective and food packaging segments, even as the company works to enhance the recyclability and recycled content of its products. The emergence of alternative materials and circular packaging business models could erode demand for conventional plastic solutions at a pace that challenges Sealed Air's adaptation capabilities.

Sealed Air (SEE) operates in several key markets, primarily focusing on food packaging, protective packaging, and automated packaging systems. The addressable market sizes for these main products and services on a global scale are as follows:

• Food Packaging: The global food packaging market was estimated to be between USD 400.29 billion and USD 505.27 billion in 2024. This market is projected to grow significantly, with estimates ranging from USD 562.38 billion by 2030 to USD 815.51 billion by 2032. A sub-segment, the global foodservice packaging market, was estimated at US$ 67.9 billion in 2024.
• Protective Packaging: The global protective packaging market size was estimated to be between USD 32.43 billion and USD 37.86 billion in 2024. Projections show this market reaching between USD 56.97 billion by 2033 and USD 61.44 billion by 2030.
• Automated Packaging Systems: The global packaging automation market was valued between USD 72.80 billion and USD 80.02 billion in 2024. This market is expected to expand to between USD 134.65 billion by 2032 and USD 169.58 billion by 2034.

Sealed Air (NYSE: SEE) is expected to drive future revenue growth over the next two to three years through several strategic initiatives and market trends:

1. Continued Growth and Expansion in the Food Segment: The Food segment has demonstrated consistent volume growth, fueled by strong end-market demand and competitive wins, particularly in its case-ready solutions and Fluids business (including Liquibox). Sealed Air is strategically expanding further into higher-growth end markets such as retail and foodservice, which are expected to contribute significantly to overall growth by diversifying its exposure and smoothing out volatility from industrial food processing markets.
2. Stabilization and Targeted Growth in the Protective Segment: After experiencing several quarters of declines, the Protective segment has shown early signs of stabilization and a positive inflection in material volumes. The company's ongoing transformation efforts are focused on rebalancing its portfolio, enhancing customer focus, and implementing a "transformation playbook" to restore growth in this segment.
3. New Product Development and Sustainable Packaging Solutions: Sealed Air is investing in the development of new, environmentally friendly packaging solutions, such as paper mailers, void fill products, and compostable trays. This focus aligns with evolving consumer preferences and industry trends towards sustainability, enabling the company to capture new market share and drive revenue growth in a transforming packaging landscape.
4. Operational Transformation and Productivity Improvements: While primarily focused on cost reduction and profitability, Sealed Air's comprehensive operational transformation and "CTO2Grow" cost take-out initiatives are designed to improve overall competitiveness and efficiency. These improvements can free up resources for investment in growth initiatives, indirectly supporting top-line expansion by allowing for more competitive pricing or enhanced product offerings.
5. Strategic Expansion in E-commerce with "Substrate-Agnostic" Solutions: Recognizing past challenges in the e-commerce sector due to shifts away from plastic, Sealed Air is actively working to regain and grow market share by becoming more "substrate-agnostic." This strategy involves a focused expansion in fiber-based mailers and auto-bagging equipment, catering to the evolving demands of online retail.

Share Repurchases

• Sealed Air executed share repurchases of $280.2 million in 2022 and $79.9 million in 2023.
• The company did not make any share repurchases in 2024 and has no plans for share repurchases in 2025.
• As of December 30, 2022, $616 million remained under the current share repurchase authorization.

Outbound Investments

• Sealed Air acquired AFP, a fabricator of foam, corrugated, molded pulp, and wood packaging solutions, in 2025 to expand its solutions portfolio and design capabilities.
• In 2021, Sealed Air increased its investment in automated packaging systems.
• The company has no plans for mergers and acquisitions in 2025.

Capital Expenditures

• Capital expenditures were approximately $181.1 million in 2020, $213.1 million in 2021, $237.3 million in 2022, and $244.2 million in 2023.
• For 2025, the full-year capital expenditure projection was lowered to $175 million.
• The primary focus of capital expenditures is on transformation efforts, productivity initiatives, innovation, technology, automation, and sustainability initiatives.