What changed in this filing

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Item 8. Financial Statements and Supplementary Data

2026-02-26 compared with 2025-02-28 · 532 added, 623 removed, 1617 unchanged (42% of the section changed)

22 unchanged sentences

We believe that our audits provide a reasonable basis for our opinions.

As described in Management’s Report on Internal Control Over Financial Reporting, management has excluded Titan Holdings I B.V.

(“Eviosys”) from its assessment of internal control over financial reporting as of December 31, 2024 because it was acquired by the Company in a purchase business combination during 2024.

We have also excluded Eviosys from our audit of internal control over financial reporting.

Eviosys is a wholly-owned subsidiary whose total assets and total revenues excluded from management’s assessment and our audit of internal control over financial reporting represent 17.9% and 1.7%, respectively, of the related consolidated financial statement amounts as of and for the year ended December 31, 2024.

Definition and Limitations of Internal Control over Financial Reporting

6 unchanged sentences

Critical Audit Matters

The critical audit matters communicated below are matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee and that (i) relate to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments.

The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments.

The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing separate opinions on the critical audit matter or on the accounts or disclosures to which it relates.

F-1 FORM 10-K SONOCO 2025 ANNUAL REPORT

Goodwill Impairment Assessment – Metal Packaging Reporting Unit

As described in Notes 1 and 9 to the consolidated financial statements, the Company’s consolidated goodwill balance was $2.5 billion as of December 31, 2024, and the goodwill associated with the Metal Packaging reporting unit was $384 million.

Goodwill Impairment Assessment – Metal Packaging EMEA Reporting Unit

As described in Notes 1 and 9 to the consolidated financial statements, the Company’s goodwill balance was $2.5 billion as of December 31, 2025, and the goodwill associated with the Metal Packaging EMEA reporting unit was $1.4 billion.

Management assesses goodwill for impairment annually during the third quarter, or from time to time when warranted by the facts and circumstances surrounding individual reporting units or the Company as a whole.

1 unchanged sentence

If the carrying value of a reporting unit exceeds the fair value of that reporting unit, an impairment charge to goodwill is recognized for the excess.

Fair value is estimated using a discounted cash flow model (income valuation approach), which reflects significant management assumptions and estimates related to the forecast of sales growth, gross profit margins, and discount rates.

The principal considerations for our determination that performing procedures relating to the goodwill impairment assessment of the Metal Packaging reporting unit is a critical audit matter are (i) the significant judgment by management when developing the fair value estimate of the reporting unit;

(ii) a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management’s significant assumptions related to the forecast of sales growth, gross profit margins, and discount rate;

When performing a quantitative analysis, management estimates the fair value of its reporting units using a weighted average of the income approach (a discounted cash flow model) and market approach (a guideline public companies model).

Fair value estimated using a discounted cash flow model reflects significant management assumptions and estimates including the forecast of sales growth during the discrete period, EBITDA, and the discount rate.

The principal considerations for our determination that performing procedures relating to the goodwill impairment assessment of the Metal Packaging EMEA reporting unit is a critical audit matter are (i) the significant judgment by management when developing the fair value estimate of the reporting unit;

(ii) a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management's significant assumptions related to the forecast of sales growth during the discrete period, EBITDA, and the discount rate;

and (iii) the audit effort involved the use of professionals with specialized skill and knowledge.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements.

These procedures included testing the effectiveness of controls relating to management’s goodwill impairment assessment, including controls over the valuation of the Metal Packaging reporting unit.

These procedures also included, among others (i) testing management’s process for developing the fair value estimate of the Metal Packaging reporting unit;

(ii) evaluating the appropriateness of the income valuation approach used by management;

(iii) testing the completeness and accuracy of underlying data used in the income valuation approach;

and (iv) evaluating the reasonableness of the significant assumptions used by management related to the forecast of sales growth, gross profit margins, and discount rate.

Evaluating management’s assumptions related to the forecast of sales growth and gross profit margins involved evaluating whether the assumptions used by management were reasonable considering (i) the current and past performance of the Metal Packaging reporting unit;

These procedures included testing the effectiveness of controls relating to management’s goodwill impairment assessment, including controls over the valuation of the Metal Packaging EMEA reporting unit.

These procedures also included, among others (i) testing management’s process for developing the fair value estimate of the Metal Packaging EMEA reporting unit;

(ii) evaluating the appropriateness of the discounted cash flow model (income valuation approach) used by management;

(iii) testing the completeness and accuracy of underlying data used in the discounted cash flow model (income valuation approach);

and (iv) evaluating the reasonableness of the significant assumptions used by management related to the forecast of sales growth during the discrete period, EBITDA, and the discount rate.

Evaluating management’s assumptions related to the forecast of sales growth during the discrete period and EBITDA involved evaluating whether the assumptions used by management were reasonable considering (i) the current and past performance of the Metal Packaging EMEA reporting unit;

(ii) the consistency with external market data;

and (iii) whether the assumptions were consistent with evidence obtained in other areas of the audit.

Professionals with specialized skill and knowledge were used to assist in evaluating (i) the appropriateness of the income valuation approach and (ii) the reasonableness of the discount rate assumption.

Valuation of Customer List Intangible Asset – Eviosys

As described in Notes 1, 4, and 9 to the consolidated financial statements, on December 4, 2024, the Company completed the acquisition of Eviosys for $3,789.8 million, net of cash acquired, which resulted in $2.0 billion of acquired intangible assets being recorded, the significant portion of which related to a customer list intangible asset.

The fair value of the customer list acquired was determined using an income valuation approach.

Projecting discounted future cash flows requires management to make significant estimates regarding projected revenues, projected earnings before interest, taxes, depreciation, and amortization (EBITDA) margins, discount rates and customer attrition rates.

The principal considerations for our determination that performing procedures relating to the valuation of the customer list intangible asset acquired in the Eviosys acquisition is a critical audit matter are (i) the significant judgment by management when developing the fair value estimate of the customer list intangible asset acquired;

(ii) a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management’s significant assumptions related to projected revenues, projected EBITDA margins, discount rate and customer attrition rate;

and (iii) the audit effort involved the use of professionals with specialized skill and knowledge.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements.

These procedures included testing the effectiveness of controls relating to the acquisition accounting, including controls over management’s valuation of the customer list intangible asset acquired.

These procedures also included, among others (i) reading the purchase agreement;

(ii) testing management’s process for developing the fair value estimate of the customer list intangible asset acquired;

(iii) evaluating the appropriateness of the income valuation approach used by management;

(iv) testing the completeness and accuracy of underlying data used in the income valuation approach;

and (v) evaluating the reasonableness of the significant assumptions used by management related to projected revenues, projected EBITDA margins, discount rate and customer attrition rate.

Evaluating management’s assumptions related to projected revenues and projected EBITDA margins involved evaluating whether the assumptions used by management were reasonable considering (i) the current and past performance of Eviosys;

(ii) the consistency with external market and industry data;

and (iii) whether the assumptions were consistent with evidence obtained in other areas of the audit.

Professionals with specialized skill and knowledge were used to assist in evaluating (i) the appropriateness of the discounted cash flow model (income valuation approach), and (ii) the reasonableness of the discount rate assumption.

/s/ PricewaterhouseCoopers LLP

12 unchanged sentences

Other receivables 178,755 175,877

Finished and in process 494,090 238,395

Materials and supplies 522,049 365,253

Inventories 1,121,009 1,016,139

Prepaid expenses 125,352 197,134

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Other Intangible Assets, Net 2,683,474 2,586,698

Long-term Deferred Income Taxes 17,371 30,623

Deferred Income Taxes 54,449 17,371

Right of Use Asset-Operating Leases 307,450 307,688

Other Assets 161,226 208,759

Non-current assets of discontinued operations 964,310 984,109

Noncurrent Assets of Discontinued Operations — 964,310

Total Assets $ 11,162,334 $ 12,507,790

2 unchanged sentences

Payable to suppliers $ 1,084,152 $ 1,130,500

Accrued expenses and other 463,543 265,432

Accrued expenses and other payables 638,770 463,543

Accrued wages and other compensation 138,982 140,912

8 unchanged sentences

Other Liabilities 214,650 60,847

Non-current liabilities of discontinued operations 113,911 118,140

Noncurrent Liabilities of Discontinued Operations — 113,911

Total Liabilities 7,530,502 10,221,577

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Common shares, no par value

Aut horized 300,000 shares

Authorized 300,000 shares

98,634 and 98,260 shares issued and outstanding as of December 31, 2025 and 2024, respectively

Capital in excess of stated value 191,855 183,250

Accumulated other comprehensive loss ( 502,734 ) ( 366,262 )

Accumulated other comprehensive income/(loss) 37,204 ( 502,734 )

Retained earnings 3,377,647 2,583,923

9 unchanged sentences

Years ended December 31 2025 2024 2023

2024 2023 2022

Net sales $ 7,518,753 $ 5,305,365 $ 5,441,426

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Selling, general and administrative expenses 862,180 723,833 644,540

Restructuring/Asset impairment charges 65,370 47,909 52,385

(Loss)/Gain on divestiture of business and other assets

Restructuring/Asset impairment charges, net

66,215 65,370 47,909

Gain/(Loss) on divestiture of business and other assets 371,717 ( 23,452 ) 78,929

Operating profit 1,017,735 326,578 589,049

Other (expenses)/income, net ( 104,200 ) 39,657 —

Non-operating pension costs 12,215 13,842 14,312

1 unchanged sentence

Interest income 20,547 27,570 10,026

Other (expense)/income, net ( 27,481 ) ( 104,200 ) 39,657

Income from continuing operations before income taxes 765,101 63,486 489,027

4 unchanged sentences

Net income from discontinued operations 412,348 96,375 96,257

96,375 96,257 88,570

163,940 475,901 466,980

Net loss/(income) from continuing operations attributable to noncontrolling interests 180 ( 768 ) ( 284 )

Net income 1,003,386 163,940 475,901

Net (income)/loss from continuing operations attributable to noncontrolling interests ( 375 ) 180 ( 768 )

Net income from discontinued operations attributable to noncontrolling interests — ( 171 ) ( 174 )

21 unchanged sentences

Net income $ 1,003,386 $ 163,940 $ 475,901

Other comprehensive (loss)/income

Other comprehensive income/(loss):

Foreign currency translation adjustments 536,942 ( 143,730 ) 70,308

Changes in defined benefit plans, net of tax 2,655 9,014 ( 8,654 )

Change in derivative financial instruments, net of tax ( 2,133 ) 1,737 ( 1,842 )

Other comprehensive (loss)/income ( 136,849 ) 63,391 ( 70,198 )

Changes in derivative financial instruments, net of tax 2,125 ( 2,133 ) 1,737

Other comprehensive income/(loss)

541,722 ( 136,849 ) 63,391

Comprehensive income 1,545,108 27,091 539,292

Net loss/(income) attributable to noncontrolling interests-continuing operations 180 ( 768 ) ( 284 )

Net (income)/loss attributable to noncontrolling interests-continuing operations ( 375 ) 180 ( 768 )

Net income attributable to noncontrolling interests-discontinued operations — ( 171 ) ( 174 )

Other comprehensive loss/(income) attributable to noncontrolling interests 377 430 ( 460 )

Other comprehensive (income)/loss attributable to noncontrolling interests ( 1,784 ) 377 430

Comprehensive income attributable to Sonoco $ 1,542,949 $ 27,477 $ 538,780

6 unchanged sentences

Comprehensive

Income/(Loss)

Outstanding Amount

2 unchanged sentences

Other comprehensive income/(loss):

Translation (loss)/income ( 68,780 ) ( 69,240 ) 460

Translation gain/(loss) 70,308 70,738 ( 430 )

Defined benefit plan adjustment 1

Derivative financial instruments 1

( 8,654 ) ( 8,654 )

Other comprehensive (loss)/income ( 70,198 ) ( 70,658 ) 460

Purchase of noncontrolling interest ( 13,196 ) ( 7,080 ) ( 6,116 )

Derivative financial instruments 1

Other comprehensive income/(loss) 63,391 63,821 ( 430 )

Dividends ( 198,762 ) ( 198,762 )

1 unchanged sentence

Shares repurchased ( 10,617 ) ( 176 ) ( 10,617 )

( 4,547 ) ( 79 ) ( 4,547 )

Share-based compensation 27,780 27,780

December 31, 2023 $ 2,431,835 97,957 $ 7,175 $ 159,047 $ ( 366,262 ) $ 2,624,380 $ 7,495

Net income 475,901 474,959 942

Other comprehensive income/(loss):

Translation income/(loss) 70,308 70,738 ( 430 )

Net income/(loss) 163,940 163,949 ( 9 )

Other comprehensive (loss)/income:

Translation loss ( 143,730 ) ( 143,353 ) ( 377 )

Defined benefit plan adjustment 1

( 8,654 ) ( 8,654 )

Derivative financial instruments 1

Other comprehensive income/(loss) 63,391 63,821 ( 430 )

( 2,133 ) ( 2,133 )

Other comprehensive loss ( 136,849 ) ( 136,472 ) ( 377 )

Divestiture of non-controlling interest ( 2,043 ) ( 2,043 )

Non-controlling interest from acquisition 9,533 9,533

Dividends ( 204,406 ) ( 204,406 )

2 unchanged sentences

Share-based compensation 29,659 29,659

Other 2,875 2,875

December 31, 2024 $ 2,286,213 98,260 $ 7,175 $ 183,250 $ ( 502,734 ) $ 2,583,923 $ 14,599

Net income/(loss) 163,940 163,949 ( 9 )

Other comprehensive income/(loss):

Translation loss ( 143,730 ) ( 143,353 ) ( 377 )

Net income 1,003,386 1,003,011 375

Other comprehensive income:

Translation gain 536,942 535,158 1,784

Defined benefit plan adjustment 1

Derivative financial instruments 1

( 2,133 ) ( 2,133 )

Other comprehensive loss ( 136,849 ) ( 136,472 ) ( 377 )

Other comprehensive income 541,722 539,938 1,784

Divestiture of non-controlling interest ( 910 ) ( 910 )

1 unchanged sentence

Dividends ( 209,287 ) ( 209,287 )

Dividends paid to noncontrolling interest ( 243 ) ( 243 )

Issuance of stock awards 1,244 602 1,244

9 unchanged sentences

Years ended December 31 2025 2024 2023

2024 2023 2022

Cash Flows from Operating Activities

1 unchanged sentence

Adjustments to reconcile net income to net cash provided by operating activities:

Asset impairment loss 17,027 26,445 21,444

Depreciation, depletion and amortization 374,859 340,988 308,824

Asset impairments 12,532 17,027 26,445

Depreciation and amortization 519,356 374,859 340,988

Share-based compensation expense 18,044 29,659 27,780

1 unchanged sentence

Equity in earnings of affiliates, net of tax

( 9,523 ) ( 9,588 ) ( 10,347 )

Cash dividends from affiliated companies 24,822 11,926 9,389

Net gain on disposition of assets ( 22,631 ) ( 55 ) ( 65,947 )

Net loss/(gain) on divestiture of business 23,452 ( 57,104 ) —

Net (gain)/loss on divestiture of business ( 978,350 ) 23,452 ( 57,104 )

Gain on remeasurement of investment in affiliated companies — ( 6,012 ) —

2 unchanged sentences

Net decrease in deferred taxes

( 22,758 ) ( 55,715 ) ( 12,209 )

Change in assets and liabilities, net of effects from acquisitions, divestitures and foreign currency adjustments:

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Cash Flows from Investing Activities

Purchase of property, plant and equipment ( 393,235 ) ( 363,077 ) ( 328,769 )

Purchases of property, plant and equipment ( 344,023 ) ( 393,235 ) ( 363,077 )

Cost of acquisitions, net of cash acquired 1

16,528 ( 3,793,569 ) ( 372,616 )

Proceeds from the sale of business, net 2,470,145 80,996 33,237

Proceeds from the sale of assets 15,649 80,339 9,621

Proceeds from the sale of assets, net 46,968 15,649 80,339

Proceeds from settlement of net investment hedge — 9,068

1 unchanged sentence

Investments in affiliated companies and other net investing proceeds 6,469 9,978 2,781

Net cash used by investing activities ( 4,105,527 ) ( 619,336 ) ( 1,741,436 )

Net cash provided/(used) by investing activities 2,196,087 ( 4,105,527 ) ( 619,336 )

Cash Flows from Financing Activities

1 unchanged sentence

Principal repayment of debt ( 2,830,688 ) ( 151,534 ) ( 1,112,917 )

Net decrease in commercial paper borrowings — — ( 349,000 )

Net (decrease)/increase in book cash overdrafts ( 3,705 ) ( 8,676 ) 6,408

1 unchanged sentence

Payment of contingent consideration — ( 948 ) —

Cash dividends – common ( 203,492 ) ( 197,416 ) ( 187,093 )

Purchase of noncontrolling interest — — ( 14,474 )

Dividends paid to noncontrolling interests ( 243 ) — —

Cash dividends ( 208,106 ) ( 203,492 ) ( 197,416 )

Payments for share repurchases ( 10,930 ) ( 9,246 ) ( 10,617 )

Net cash provided/(used) by financing activities 3,668,423 ( 351,985 ) 1,294,201

Net cash (used)/provided by financing activities ( 2,986,960 ) 3,668,423 ( 351,985 )

Effects of Exchange Rate Changes on Cash 36,429 ( 105,618 ) 12,902

Increase/(Decrease) in Cash and Cash Equivalents 291,123 ( 75,501 ) 56,460

(Decrease)/Increase in Cash and Cash Equivalents

( 64,662 ) 291,123 ( 75,501 )

Cash and cash equivalents at beginning of year 443,060 151,937 227,438

5 unchanged sentences

Income taxes paid, net of refunds $ 264,901 $ 92,427 $ 189,773

1 The Company received a final net working capital settlement of $ 16,528 during 2025 related to the acquisition of Titan Holdings I B.V.

The Notes beginning on page F-8 are an integral part of these consolidated financial statements.

6 unchanged sentences

On December 18, 2024, the Company announced that it had entered into an agreement to sell its Thermoformed and Flexibles Packaging business and its global Trident business (collectively, “TFP”) to TOPPAN Holdings Inc.

(“Toppan”) for approximately $ 1,800,000 on a cash-free and debt-free basis and subject to customary adjustments (the “Transaction”).

The Transaction, which reflects the completion of the Company’s previously announced strategic review of its Thermoformed and Flexibles Packaging business, is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2025.

The sale, which reflects the completion of the Company’s previously announced strategic review of TFP, closed on April 1, 2025.

In accordance with applicable accounting guidance, the results of TFP, previously part of the Company’s Consumer Packaging segment, are presented as discontinued operations in the Consolidated Statements of Income and, as such, have been excluded from both continuing operations and segment results for all periods presented in this Annual Report on Form 10-K.

Further, the Company reclassified the assets and liabilities of TFP as assets and liabilities of discontinued operations in the Consolidated Balance Sheets as of December 31, 2024 and 2023.

Further, the Company reclassified the assets and liabilities of TFP as assets and liabilities of discontinued operations in the Consolidated Balance Sheet as of December 31, 2024.

The Consolidated Statements of Comprehensive Income, Changes in Total Equity, and Cash Flows are presented on a consolidated basis for both continuing operations and discontinued operations.

1 unchanged sentence

See Note 2 for additional information.

Certain prior period financial information has been reclassified to conform with the current period presentation.

Investment in affiliates

Investments in affiliated companies in which the Company does not control the investee or in which the Company is not the primary beneficiary but has the ability to exercise significant influence over the investee’s financial and operating decisions, are accounted for by the equity method of accounting.

2 unchanged sentences

Entity Ownership Interest

Percentage at

December 31, 2024

Cascades Conversion, Inc.

5 unchanged sentences

The Company has certain other equity investments in which it is not able to exercise significant influence that are accounted for under the measurement alternative (i.e., cost less impairment, adjusted for any qualifying observable price changes).

These include a 19.5 % ownership in a small tubes and cores business in Chile and an investment in a small South Carolina-based designer and manufacturer of sustainable protective packaging solutions in which the Company increased its ownership interest from 20.5 % to 39.9 % during the second quarter of 2024, which contributed to an investment increase of $ 18,512 .

These include a 19.5 % ownership in a small tubes and cores business in Chile and a 39.9 % ownership interest in a small South Carolina-based designer and manufacturer of sustainable protective packaging solutions, increased from 20.5 % during the second quarter of 2024.

See Note 4 for additional information.

2 unchanged sentences

See Note 4 for additional information.

In the fourth quarter of 2025, the Company received cash dividends from Cascades Conversion, Inc.

and Cascades Sonoco, Inc.(collectively, “Cascades”) totaling $ 26,266 .

The Company determined that a total of $ 19,811 of the Cascades dividends represented a return on investment and included these in net cash provided by operating activities under the caption “Cash dividends from affiliated companies” in the Company’s Consolidated Statements of Cash Flows for the year ended December 31, 2025.

The remaining Cascades dividends of $ 6,455 were determined to represent a return of investment and were included in net cash provided/(used) by investing activities under the caption “Investments in affiliated companies and other net investing proceeds” in the Company’s Consolidated Statements of Cash Flows for the year ended December 31, 2025.

The aggregate carrying value of equity investments is reported in “Other Assets” in the Company’s Consolidated Balance Sheets and totaled $ 49,644 a nd $ 67,801 at December 31, 2025 and 2024, respectively.

12 unchanged sentences

These rebates are recorded as reductions of sales and are accrued using sales data and rebate percentages specific to each customer agreement.

Accrued customer rebates are included in “Accrued expenses and other” in the Company’s Consolidated Balance Sheets.

Accrued customer rebates are included in “Accrued expenses and other payables” in the Company’s Consolidated Balance Sheets.

F-8 FORM 10-K SONOCO 2025 ANNUAL REPORT

Payment terms under the Company’s arrangements are typically short term in nature.

1 unchanged sentence

Prompt payment discounts are determinable within a short period after the originating sale and like sales returns, are treated as a reduction of revenue.

F-8 FORM 10-K SONOCO 2024 ANNUAL REPORT

Accounts receivable and allowance for doubtful accounts

The Company’s trade accounts receivable are non-interest bearing and are recorded at the invoiced amounts.

The allowance for doubtful accounts represents the Company’s best estimate of the amount of probable credit losses in existing accounts receivable.

The allowance for doubtful accounts represents the Company’s best estimate of the amount of expected credit losses in existing accounts receivable.

The Company performs an evaluation of lifetime expected credit losses inherent in its accounts receivable at each balance sheet date.

11 unchanged sentences

Accordingly, receivables sold under such arrangements totaling $ 73,487 were included in “Notes payable and current portion of long-term debt” in the Company’s Consolidated Balance Sheets at December 31, 2024.

All of these obligations had been settled as of December 31, 2025.

Accounts payable and supply chain financing

20 unchanged sentences

The Company’s cash and cash equivalents are primarily placed with large sophisticated creditworthy financial institutions thereby limiting the Company’s credit exposure.

The majority of the Company’s inventories are accounted for using the first-in, first-out (FIFO) method and are stated at the lower of cost or net realizable value.

The last in, first out (“LIFO”) method is used for the valuation of certain of the Company’s domestic inventories, primarily metal, internally manufactured paper and paper purchased from third parties, and approximated 9 % and 17 % of total inventories at December 31, 2024 and 2023, respectively.

The majority of the Company’s inventories are accounted for using the first-in, first-out (FIFO) method or average cost methods and are stated at the lower of cost or net realizable value.

The last in, first out (“LIFO”) method is used for the valuation of certain of the Company’s domestic inventories, primarily metal, internally manufactured paper and paper purchased from third parties, and approximated 9 % of total inventories at both December 31, 2025 and December 31, 2024.

Inventories accounted for using the LIFO method are stated at the lower of cost or market.

If the FIFO method of accounting had been used for all inventories, total inventory would have been higher by $ 33,323 and $ 33,265 at December 31, 2025 and 2024, respectively.

F-9 FORM 10-K SONOCO 2025 ANNUAL REPORT

Details of the Company’s inventory balances at December 31, 2025 and 2024 are as follows:

Finished goods $ 370,303 $ 359,086

Work in process 161,313 135,004

Materials and supplies 589,393 522,049

Inventories $ 1,121,009 $ 1,016,139

Property, plant and equipment

1 unchanged sentence

Equipment lives generally range from 3 to 11 years, and buildings range from 15 to 40 years.

F-9 FORM 10-K SONOCO 2024 ANNUAL REPORT

Expenditures for repairs and maintenance are charged to expense as incurred.

23 unchanged sentences

Fair value is estimated using a discounted cash flow model (income valuation approach) based on projections of future years’ operating results and associated cash flows combined with comparable trading and transaction multiples based on guideline public companies.

The calculated estimated fair value of the reporting unit reflects a number of significant management assumptions and estimates including the forecast of sales growth, gross profit margins, and discount rates.

The calculated estimated fair value of the reporting unit reflects a number of significant management assumptions and estimates including the forecast of sales growth during the discrete period, EBITDA, and discount rates.

Changes in these assumptions could materially impact the estimated fair value.

The Company’s projections incorporate management’s best estimates of the expected future results, which include expectations related to new and retained business and future operating margins.

Projected future cash flows are then discounted to present value using a discount rate management believes is commensurate with the risks inherent in the cash flows.

Projected future cash flo ws are then discounted to present value using a discount rate management believes is commensurate with the risks inherent in the cash flows.

Impairment of long-lived, intangible and other assets

5 unchanged sentences

The Company evaluates its long-lived assets (property, plant and equipment), definite-lived intangible assets and other assets (including right of use lease assets, notes receivable and equity and other investments) for impairment whenever indicators of impairment exist, or when it commits to sell the asset.

If the sum of the undiscounted expected future cash flows from a long-lived asset, definite-lived intangible, or other asset group is less than the carrying value of that asset group, an asset impairment charge is recognized.

If the sum of the undiscounted expected future cash flows from a long-lived asset, definite-lived intangible, or other asset group is less

F-10 FORM 10-K SONOCO 2025 ANNUAL REPORT

than the carrying value of that asset group, an asset impairment charge is recognized.

Key assumptions and estimates used in the projection of expected future cash flows generally include price levels, sales growth, profit margins and asset life.

7 unchanged sentences

The Company recognizes liabilities for uncertain income tax positions based on its estimate of whether it is more likely than not that additional taxes will be required and the Company reports related interest and penalties within the “Provision for income taxes” line item in the Consolidated Statements of Income.

F-10 FORM 10-K SONOCO 2024 ANNUAL REPORT

The Company uses derivatives to mitigate the effect of fluctuations in some of its raw material and energy costs, foreign currencies, and, from time to time, interest rates.

10 unchanged sentences

Changes in the fair value of derivatives designated as accounting hedges are recognized in net income, and otherwise are recognized in other comprehensive income.

Amounts in accumulated other comprehensive income are reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings.

Amounts in accumulated other comprehensive income/(loss) are reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings.

It is the Company’s policy not to speculate in derivative instruments.

20 unchanged sentences

These judgments, assumptions and estimates may affect the carrying value of pension and postretirement plan net assets and liabilities and pension and postretirement plan expenses in the Company’s Consolidated Financial Statements.

F-11 FORM 10-K SONOCO 2025 ANNUAL REPORT

Business combinations

9 unchanged sentences

If the Company is required to adjust provisional amounts that were recorded for the fair values of assets and liabilities in connection with acquisitions, these adjustments could have a material impact on its financial condition and results of operations.

Significant estimates and assumptions in estimating the fair value of acquired patents, customer lists, trademarks, proprietary technology, and other identifiable intangible assets include future cash flows that the Company expects to generate from the acquired assets, discount rate,

F-11 FORM 10-K SONOCO 2024 ANNUAL REPORT

customer attrition rate, and long-term revenue growth projections.

Projecting discounted future cash flows requires the Company to make significant estimates regarding projected revenues, projected earnings before interest, taxes, depreciation, and amortization margins, discount rates and customer attrition rates.

8 unchanged sentences

The Company’s operating and reporting structure consists of two reportable segments, Consumer Packaging and Industrial Paper Packaging, with all remaining businesses reported as All Other.

Effective January 1, 2026, the All Other business will be reported within the Industrial Paper Packaging segment and the use of All Other will be discontinued.

Contingencies

4 unchanged sentences

The Company’s foreign operations are exposed to political, geopolitical, and cultural risks, but the risks are mitigated by diversification and the relative stability of the countries in which the Company has significant operations.

Because the economies in Turkey and Venezuela are considered highly inflationary under GAAP, the Company considers the U.S.

Because the economy in Turkey is considered highly inflationary under GAAP, the Company considers the U.S.

dollar to be the functional currency for these operations and uses the official exchange rate when remeasuring the financial assets and liabilities of these operations.

The remeasurement adjustments are recorded against earnings within the Company’s consolidated income statement.

The remeasurement adjustments are recorded against earnings within the Company’s Consolidated Statements of Income.

F-12 FORM 10-K SONOCO 2025 ANNUAL REPORT

Discontinued operations

As disclosed in Note 1, on December 18, 2024, the Company entered into an agreement to sell TFP.

As a result of the planned sale, and in accordance with applicable accounting guidance, the financial results of TFP are presented as discontinued operations in the Consolidated Statements of Income and, as such, have been excluded from both continuing operations and segment results for all periods presented.

Further, the Company reclassified the assets and liabilities of TFP as assets and liabilities of discontinued operations in the Consolidated Balance Sheets as of December 31, 2024 and 2023.

The Consolidated Statements of Comprehensive Income, Consolidated Statements of Changes in Total Equity, and Consolidated Statements of Cash Flows are presented on a consolidated basis for both continuing operations and discontinued operations.

All amounts, percentages and disclosures for all periods presented reflect only the continuing operations of Sonoco unless otherwise noted.

The following table presents the assets and liabilities that are classified as discontinued operations in the Consolidated Balance Sheets as of

December 31, 2024 and 2023:

As disclosed in Note 1, as a result of the Company entering into an agreement to sell TFP on December 18, 2024, the assets and liabilities of TFP were classified as discontinued operations in the Consolidated Balance Sheet as of December 31, 2024 as presented below:

Cash and cash equivalents $ 12,050

Trade accounts receivable, net of allowances of $ 2,582 in 2024 and $ 2,793 in 2023

209,379 218,620

Trade accounts receivable, net of allowances of $ 2,582

Other receivables 46,001

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Current assets of discontinued operations $ 450,874

Property, plant and equipment, net of accumulated depreciation of $ 465,923 in 2024 and $ 480,416 in 2023

262,662 243,370

Property, plant and equipment, net of accumulated depreciation of $ 465,923

Goodwill 502,621

Other intangible assets, net of accumulated amortization of $ 206,437 in 2024 and $ 189,471 in 2023

103,593 127,113

Long-term deferred income taxes 262 706

Other intangible assets, net of accumulated amortization of $ 206,437

Deferred income taxes 262

Right of use asset-operating leases 75,855

Other assets 19,317

Non-current assets of discontinued operations $ 964,310 $ 984,109

Noncurrent Assets of Discontinued Operations $ 964,310

Payable to suppliers 172,720

Accrued expenses and other 62,562 70,593

Accrued expenses and other payables 62,562

Notes payable and current portion of long-term debt 6,774

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Noncurrent operating lease liabilities 67,789

Pension and other postretirement benefits — 116

Deferred income taxes 15,928

Other liabilities 344

Non-current liabilities of discontinued operations $ 113,911 $ 118,140

Noncurrent Liabilities of Discontinued Operations $ 113,911

F-13 FORM 10-K SONOCO 2025 ANNUAL REPORT

The following table presents key components of “Income from discontinued operations, net of taxes” for the years ended December 31, 2024, 2023, and 2022:

The following table presents key components of “Net income from discontinued operations” for the years ended December 31, 2025, 2024, and 2023:

Year Ended December 31,

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Selling, general and administrative expenses 31,607 122,488 97,131

Restructuring/Asset impairment charges 3,740 9,024 4,525

Restructuring/Asset impairment charges, net 426 3,740 9,024

Gain on divestiture of business

Operating profit 644,424 128,037 126,741

Other (expense)/income, net

Interest expense 1

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Diluted $ 4.14 $ 0.97 $ 0.97

1 Includes $ 9,528 of interest expense in 2024 relating to certain debt contractually required to be repaid by the Company upon completion of the TFP divestiture.

No such interest expense is reflected in 2023 or 2022.

1 Includes $ 24,060 and $ 9,528 of interest expense in 2025 and 2024, respectively, relating to certain debt contractually required to be repaid by the Company upon completion of the TFP divestiture.

No such interest expense is reflected in 2023 as the debt was drawn on December 2, 2024 and repaid on April 3, 2025.

See Note 11 for additional information.

The following table presents significant cash flow items from discontinued operations for the years ended December 31, 2025, 2024, and 2023:

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2025 2024 2023

Depreciation, depletion and amortization $ 58,798 $ 58,959 $ 58,291

Capital expenditures

Depreciation and amortization (a)

$ ( 311 ) $ 58,798 $ 58,959

Purchases of property, plant and equipment $ ( 5,572 ) $ ( 65,321 ) $ ( 55,624 )

(a) Subsequent to entering the agreement to sell TFP on December 8, 2024, depreciation was no longer recognized on TFP’s property, plant and equipment, and amortization was no longer recognized on TFP’s other intangible assets or right of use assets-operating leases, in accordance with ASC 360, “Property, Plant, and Equipment.”

New accounting pronouncements

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and (e) depreciation, depletion, and amortization.

Further, this guidance will require companies to include certain amounts that are already required to be disclosed under current GAAP in the same disclosure as the other disaggregation requirements, disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively and disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses.

Further, this guidance will require companies to include certain amounts that are already required to be disclosed under current U.S.

GAAP in the same disclosure as the other disaggregation requirements, disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively and disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses.

The standard is intended to benefit investors by providing more detailed expense disclosures that would be useful in making capital allocation decisions.

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The Company is currently evaluating the potential impact of adopting this new guidance on its consolidated financial statements and related disclosures.

F-14 FORM 10-K SONOCO 2025 ANNUAL REPORT

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740):

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The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions.

The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted.

ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted.

The Company is currently evaluating the potential impact of adopting this new guidance on its consolidated financial statements and related disclosures.

F-14 FORM 10-K SONOCO 2024 ANNUAL REPORT

In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses.

The purpose of the amendment is to enable investors to better understand an entity’s overall performance and assess potential future cash flows.

The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted.

The guidance is to be applied retrospectively to all prior periods presented in the financial statements.

The Company adopted this standard effective with its reporting for the year ended December 31, 2024 and has provided the enhanced reportable segment financial disclosures in this Annual Report on Form 10-K.

In September 2022, the FASB issued ASU 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50):

Disclosure of Supplier Finance Program Obligations.” The amendments require that a buyer in a supplier finance program disclose qualitative and quantitative information about its supplier finance programs in each annual reporting period, including a description of key payment terms, amounts outstanding, and a rollforward of the outstanding obligation.

In each interim reporting period, the amount outstanding requires disclosure.

The amendments were effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which was effective for fiscal years beginning after December 15, 2023.

The Company adopted this standard in the first quarter of 2023, with the exception of the amendment on rollforward information, which was adopted effective with its reporting for the year ended December 31, 2024 and is included in this Annual Report on Form 10-K.

The Company adopted this standard on a prospective basis as of January 1, 2025 and included the expanded annual disclosures in this Annual Report on Form 10-K.

Other than the pronouncements discussed above, there have been no other newly issued nor newly applicable accounting pronouncements that have had, or are expected to have, a material impact on the Company’s financial statements.

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Eviosys Acquisition

Eviosys, a global supplier of metal packaging that produces food cans and ends, aerosol cans, metal closures and promotional packaging with a large metal food can manufacturing footprint in the Europe, Middle East, and Africa region, has approximately 6,500 employees in 44 manufacturing facilities across 17 countries.

On December 4, 2024, the Company completed the acquisition of all issued and outstanding equity interests in Eviosys from an affiliate of KPS Capital Partners, LP for net cash consideration of $ 3,789,826 , partially reduced by a final working capital settlement for which the Company received $ 16,528 during the second quarter of 2025.

E viosys, now operated as Sonoco Metal Packaging EMEA in the Company’s Consumer Packaging segment, is a global supplier of metal packaging that produces food cans and ends, aerosol cans, metal closures and promotional packaging with a large metal food can manufacturing footprint in the EMEA region.

The Company funded the Eviosys acquisition, including related fees and expenses, with the net proceeds from the registered public offering of senior unsecured notes, borrowings from two term loan facilities, and cash on hand.

See Note 11 for more information.

The financial results of Eviosys are included in the Company’s Consumer Packaging segment.

In order to fund the Eviosys acquisition in euros, the Company entered into foreign currency forward contracts during the month of October 2024 with varying settlement dates to sell USD and buy euro.

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Such euro cash balances, being monetary assets, were subject to remeasurement in the intervening period between settlement and December 4, 2024, resulting in the recognition of a $ 113,697 remeasurement loss.

This loss is reflected in “Other (expenses)/income, net” in the Company’s Consolidated Statement of Income for the year ended December 31, 2024.

This loss is reflected in “ Other (expense)/income, net ” in the Company’s Consolidated Statement of Income for the year ended December 31, 2024.

The majority of the remeasurement loss was non-cash in nature;

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The Company no longer holds significant euro-denominated cash on its USD functional currency entity that would be subject to future remeasurement gain/loss.

The Company’s preliminary fair values of the assets acquired and liabilities assumed in the acquisition of Eviosys, are as follows:

Preliminary Allocation

During 2025, the Company finalized its valuation of the assets acquired and liabilities assumed in the Eviosys acquisition.

The final fair values, reflecting adjustments made during the measurement period, are as follows:

Initial Preliminary Allocation Measurement Period Adjustments Final Allocation

Trade accounts receivable $ 300,385 $ ( 5,151 ) $ 295,234

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Payable to suppliers ( 518,766 ) 1,673 ( 517,093 )

Accrued expenses and other ( 168,529 )

Accrued expenses and other payables ( 168,529 ) ( 3,167 ) ( 171,696 )

Accrued wages and other compensation ( 41,749 ) ( 57 ) ( 41,806 )

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Pension and other postretirement benefits ( 51,849 ) ( 69 ) ( 51,918 )

Long-term debt — ( 34 ) ( 34 )

Deferred income taxes ( 599,941 ) 31,772 ( 568,169 )

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Noncontrolling Interests

( 9,533 ) ( 2,346 ) ( 11,879 )

Net assets acquired $ 3,789,826 $ ( 16,528 ) $ 3,773,298

Goodwill for Eviosys, $ 485,000 of which is expected to be deductible for income tax purposes, consists of increased access to certain markets and the value of the assembled workforce.

F-15 FORM 10-K SONOCO 2025 ANNUAL REPORT

The preliminary allocation of the purchase price of Eviosys to the tangible and intangible assets acquired and liabilities assumed, as reflected in the table above, is based on the Company’s preliminary allocations of their respective fair values, based on information currently available.

Management is continuing to finalize its valuation of certain assets and liabilities including, but not limited to:

property, plant and equipment;

other intangible assets;

operating leases;

and deferred income taxes, and expects to complete its valuations within one year of the date of acquisition.

Factors comprising goodwill for Eviosys, none of which is expected to be deductible for income tax purposes, include increased access to certain markets and the value of the assembled workforce.

The following table presents the financial results for Eviosys from December 4, 2024, the date of acquisition, through December 31, 2024:

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Pro Forma Supplemental Information Years Ended

Consolidated December 31, 2024

December 31, 2023

Consolidated December 31, 2024 December 31, 2023

Net sales $ 7,546,920 $ 8,032,135

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The pro forma information above does not project the Company’s expected results for any future period and gives no effect to any future synergistic benefits that may result from the combination or the costs of integrating the acquired operations with those of the Company.

Pro forma information for the years ended December 31, 2024 and December 31, 2023 includes adjustments to depreciation, amortization, and income taxes based upon the preliminary fair value allocation of the purchase price to Eviosys’ tangible and intangible assets acquired and liabilities assumed as though the acquisition had occurred on January 1, 2023.

Pro forma information for the years ended December 31, 2024 and 2023 includes adjustments to depreciation, amortization, and income taxes based upon the final fair value allocation of the purchase price to Eviosys’ tangible and intangible assets acquired and liabilities assumed as though the acquisition had occurred on January 1, 2023.

Interest expense on the additional debt issued by the Company to fund the acquisition and retention bonuses incurred related to the acquisition are also included in the pro forma information as if the acquisition had occurred on January 1, 2023.

Acquisition-related costs of $ 272,303 include the $ 113,697 remeasurement loss discussed above and charges related to fair value adjustments to acquisition-date inventory.

These costs are excluded from 2024 pro forma net income and are instead reflected in 2023 pro forma net income as though the acquisition had occurred on January 1, 2023.

Transaction-related costs of $ 267,886 , i ncluding the $ 113,697 remeasurement loss discussed above and charges related to fair value adjustments to acquisition-date inventory, incurred in 2024 are e xcluded from 2024 pro forma net income and are instead reflected in 2023 pro forma net income as though the acquisition had occurred on January 1, 2023.

Other Acquisitions

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During the second quarter of 2024, the Company paid additional consideration in the amount of $ 2,340 and a final net working capital settlement in the amount of $ 489 .

The Company finalized its valuations of the assets acquired and the liabilities assumed in the acquisition of Inapel during 2024.

As Inapel is one of the operations included in the pending sale of TFP, the acquired assets and liabilities are reflected as assets and liabilities of discontinued operations on the Company’s Consolidated Balance Sheets as of December 31, 2024 and December 31, 2023.

Additional obligations to the seller totaling $ 2,333 are expected to be paid during 2025 and are recorded in “Current liabilities of discontinued operations” in the Company’s Consolidated Balance Sheet as of December 31, 2024.

As Inapel was one of the operations included in the April 1, 2025 divestiture of TFP, the acquired assets and liabilities are reflected as assets and liabilities of discontinued operations on the Company’s Consolidated Balance Sheet as of December 31, 2024.

The remaining obligations to the seller as of December 31, 2024 totaled $ 2,333 and are reflected in “Current liabilities of discontinued operations.” These obligations were subsequently assumed by the buyers of TFP.

On September 8, 2023, the Company completed the acquisitions of the remaining 65 % ownership interest in RTS Packaging, LLC (“RTS Packaging”) from joint venture partner WestRock Company (“WestRock”) and a paper mill in Chattanooga, Tennessee (the “Chattanooga Mill”) from WestRock for net cash consideration of $ 313,388 .

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On September 8, 2023, the fair value of the Company’s 35 % ownership interest in RTS Packaging was determined to be $ 59,472 based on the cash consideration exchanged for acquiring the remaining 65 % ownership interest in RTS Packaging adjusted for the deemed payment of a control premium, and the carrying value of the 35 % ownership interest in RTS Packaging was $ 8,654 .

The Company recognized a net gain of $ 44,029 resulting from this remeasurement to fair value and the reclassification of certain amounts related to the Company’s 35 % ownership interest in RTS Packaging out of “Accumulated other comprehensive loss,” including foreign currency translation losses of $ 2,033 and losses related to defined benefit pension plans of $ 4,756 .

The net gain from such remeasurement and reclassification was recorded in “Other income, net” in the Company’s Consolidated Statements of Income for the year ended December 31, 2023.

The Company recognized a net gain of $ 44,029 resulting from this remeasurement to fair value and the reclassification of certain amounts related to the Company’s 35 % ownership interest in RTS Packaging out of “Accumulated other comprehensive income/(loss),” including foreign currency translation losses of $ 2,033 and losses related to defined benefit pension plans of $ 4,756 .

The net gain from such remeasurement and reclassification was recorded in “ Other (expense)/income, net ” in the Company’s Consolidated Statements of Income for the year ended December 31, 2023.

The Company also recognized a loss of $ 7,086 on the settlement of a contract associated with the Chattanooga Mill.

The contract was determined to have unfavorable terms given market conditions at the time of the acquisition.

This loss is reflected in “Other income, net” in the Company’s Consolidated Statements of Income for the year ended December 31, 2023.

This loss, along with the settlement of a note receivable

This loss is reflected in “ Other (expense)/income, net ” in the Company’s Consolidated Statements of Income for the year ended December 31, 2023.

This loss, along with the settlement of a note receivable from RTS Packaging held by the Company on the acquisition date, are reflected as components of purchase consideration transferred in connection with these acquisitions.

F-16 FORM 10-K SONOCO 2025 ANNUAL REPORT

from RTS Packaging held by the Company on the acquisition date, are reflected as components of purchase consideration transferred in connection with these acquisitions.

The following table provides a summary of the purchase consideration (as defined under ASC 805) transferred for the acquisition of the remaining interest in RTS Packaging and the acquisition of the Chattanooga Mill:

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Purchase consideration transferred $ 374,547

During 2024, the Company finalized its valuations of the assets acquired and liabilities assumed in the acquisitions of the remaining ownership interest in RTS Packaging and the Chattanooga Mill.

As a result, final fair values reflecting adjustments made during the measurement period are as follows:

Initial Allocation Measurement Period Adjustments Final Allocation

Trade accounts receivable $ 17,488 $ — $ 17,488

Inventories 20,209 ( 947 ) 19,262

Prepaid expenses 2,720 ( 589 ) 2,131

Property, plant and equipment 73,483 753 74,236

Right of use asset - operating leases 34,604 290 34,894

Other intangible assets 199,560 ( 8,995 ) 190,565

Goodwill 92,657 14,909 107,566

Other assets 2,465 ( 412 ) 2,053

Payable to suppliers ( 7,320 ) — ( 7,320 )

Accrued expenses and other ( 12,436 ) ( 25 ) ( 12,461 )

Accrued wages and other compensation ( 2,731 ) — ( 2,731 )

Notes payable and current portion of long-term debt ( 24 ) — ( 24 )

Noncurrent operating lease liabilities ( 29,905 ) — ( 29,905 )

Pension and other postretirement benefits ( 10,761 ) ( 768 ) ( 11,529 )

Long-term debt ( 1,942 ) — ( 1,942 )

Deferred income taxes ( 3,419 ) ( 2,502 ) ( 5,921 )

Other long-term liabilities ( 3,293 ) 1,478 ( 1,815 )

Net assets acquired $ 371,355 $ 3,192 $ 374,547

Goodwill for RTS Packaging and the Chattanooga Mill, of which $ 83,000 is expected to be deductible for income tax purposes, consists of increased manufacturing capacity, access to certain markets, and the capability to support marquee customers in growing markets.

The Company completed three acquisitions during 2022 at a net cash cost of $ 1,444,618 .

On November 15, 2022, the Company completed the acquisition of S.P.

Holding, Skjern A/S (“Skjern”), a privately owned manufacturer of paper based in Skjern, Denmark for $ 89,610 , net of cash acquired.

Tangible assets totaled $ 40,489 , intangible assets totaled $ 39,330 , liabilities totaled $ 22,403 , and Goodwill totaled $ 32,194 .

Skjern produces high-grade paperboard from recycled paper for rigid paper containers, tubes and cores, and other applications.

On August 31, 2022, the Company completed the acquisition of Nordeste Tubetes and NE Tubetes (collectively, “Nordeste”), two small tube and core operations in Brazil.

Total consideration for the two businesses was $ 6,419 .

Tangible assets totaled $ 1,374 , intangible assets totaled $ 3,031 , and Goodwill totaled $ 2,014 .

The Company paid $ 3,933 at closing and recorded a deferred payment obligation totaling $ 2,486 in “Other liabilities” in the Company’s Consolidated Balance Sheets.

The deferred payment obligation is expected to be paid by the end of 2028.

On January 26, 2022, the Company completed the acquisition of Ball Metalpack Holding, LLC (“Ball Metalpack”), renamed Sonoco Metal Packaging (“Metal Packaging”), a leading supplier of sustainable metal packaging for food and household products and the largest aerosol can producer in North America, for $ 1,348,589 , net of cash acquired.

Prior to the Company’s acquisition, Ball Metalpack was a joint venture formed in 2018 and owned by Platinum Equity ( 51 %) and Ball Corporation ( 49 %).

Metal Packaging consists of eight manufacturing plants in the United States and a headquarters facility in Broomfield, Colorado.

F-17 FORM 10-K SONOCO 2024 ANNUAL REPORT

Financial results for Metal Packaging are included in the Company’s Consumer Packaging Segment, and financial results for Nordeste and Skjern are included in the Industrial Paper Packaging segment.

Except for the Eviosys and Metal Packaging acquisitions, the Company does not believe that the results of the businesses acquired in 2024, 2023, and 2022 were material to the years presented, individually or in the aggregate, and are therefore not subject to the requirements to provide supplemental pro-forma information.

The following table presents the financial results for Metal Packaging from the date of acquisition through December 31, 2022:

Supplemental Information January 26 to

Metal Packaging December 31, 2022

Net sales $ 1,035,020

Net income $ 62,777

The following table presents the Company’s pro forma consolidated results for the year ended December 31, 2022, assuming the acquisition of Metal Packaging had occurred on January 1, 2021.

This pro forma information is presented for informational purposes only and does not purport to represent the results of operations that would have been achieved if the acquisition had been completed at the beginning of 2021, nor is it necessarily indicative of future consolidated results.

Pro Forma Supplemental Information Year Ended

Consolidated December 31, 2022

Net sales $ 5,908,915

Net income from continuing operations

Net income attributable to Sonoco 1

1 Includes results of discontinued operations

Pro forma information for the year ended December 31, 2022 includes adjustments to depreciation, amortization, and income taxes based upon the final fair value allocation of the purchase price to Metal Packaging’s tangible and intangible assets acquired and liabilities assumed as though the acquisition had occurred on January 1, 2021.

Acquisition-related costs of $ 28,171 and charges related to fair value adjustments to acquisition-date inventory of $ 33,155 were recognized during 2022.

These costs are excluded from 2022 pro forma net income and are instead reflected in the previously disclosed 2021 pro forma net income as though the acquisition had occurred on January 1, 2021.

The Company has accounted for these acquisitions as business combinations under the acquisition method and has included the results of operations of the acquired businesses in the Company’s Consolidated Statements of Income from their respective dates of acquisition.

Divestiture of Businesses

On December 18, 2024, the Company announced that it had entered into an agreement to sell TFP to Toppan for approximately $ 1,800,000 on a cash-free and debt-free basis and subject to customary adjustments.

The sale is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2025.

TFP Divestiture

On April 1, 2025, the Company completed the sale of TFP, part of the Consumer Packaging segment, to Toppan for net cash consideration of $ 1,807,493 paid at closing on a cash-free and debt-free basis.

A final working capital settlement was reached in January 2026 that will require a payment of $ 15,211 to be made to the buyers during the first quarter of 2026.

The Company has recorded a liability in this amount in “Accrued expenses and other payables” on its consolidated balance sheet as of December 31, 2025.

This sale was the result of the Company’s continuing evaluation of its business portfolio and was consistent with the Company’s strategic and investment priorities.

In connection with the TFP divestiture, the Company wrote off net assets totaling $ 1,112,489 , reclassified $ 47,955 of cumulative translation adjustment losses from accumulated other comprehensive income/(loss) and incurred transaction fees of $ 25,205 , resulting in a net pretax gain, including the final working capital settlement, of $ 606,633 .

The Company recognized a related tax provision of $ 199,457 , for an after-tax gain of $ 407,176 .

The after tax gain is included in “Net income from discontinued operations” in the Company’s Consolidated Statements of Income for the year ended December 31, 2025.

See Notes 1 and 2 for additional information.

The majority of cash proceeds generated from this transaction were used to repay debt, as further described in Note 11.

ThermoSafe and Other Divestitures

On November 3, 2025, the Company completed the sale of ThermoSafe, part of the All Other group of businesses, to Arsenal for net cash consideration of $ 655,827 paid at closing on a cash-free and debt-free basis and subject to customary adjustments.

The sale also allowed for additional consideration of up to $ 75,000 if certain performance measures for calendar year 2025 were met.

However, as these performance measures were not met, no additional cash consideration is anticipated.

In connection with the ThermoSafe divestiture, the Company wrote off net assets totaling $ 265,777 , including $ 173,250 of goodwill, reclassified $ 1,197 of cumulative translation adjustment gains from accumulated other comprehensive income/(loss) and incurred transaction fees of $ 13,233 , resulting in a net pretax gain of $ 378,014 , which is included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

The Company used the majority of the cash proceeds from the sale to pay down debt, as further described in Note 11.

On April 30, 2025, the Company completed the sale of a recycling facility in Asheville, North Carolina, part of the Industrial Paper Packaging segment, for cash proceeds of $ 3,924 .

The sale resulted in a loss of $ 2,114 , which is included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

On March 2, 2025, the Company completed the sale of its tube and core operations in Venezuela, part of the Industrial Paper Packaging segment, in exchange for a receivable in the amount of $ 145 .

The sale resulted in a loss of $ 5,390 , including $ 3,792 of cumulative translation losses that were reclassified from accumulated other comprehensive income/(loss).

This loss is included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

On January 17, 2025, the Company completed the sale of a small construction tube operation in France, part of the Industrial Paper Packaging segment, for cash proceeds of $ 1,513 and recognized a gain of $ 1,207 , which is included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

In November 2024, the Company completed the sale of two production facilities in China, both of which were part of the Company’s Industrial Paper Packaging segment, for $ 302 .

As a result of the sale, the Company reclassified $ 590 of cumulative translation losses from Accumulated Other Comprehensive Loss and recognized a loss of $ 25,607 , which is included in “(Loss)/Gain on divestiture of business and other assets” in the Company’s Consolidated Statements of Income.

As a result of the sale, the Company reclassified $ 590 of cumulative translation losses from accumulated other comprehensive income/(loss) and recognized a loss of $ 25,607 , which is included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

On April 1, 2024, the Company completed the sale of its Protective Solutions business (“Protexic”), part of the All Other group of businesses, to Black Diamond Capital Management, LLC (“Black Diamond”) for cash proceeds of $ 80,267 at closing.

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This sale was the result of the Company’s continuing evaluation of its business portfolio and is consistent with the Company’s strategic and investment priorities.

In connection with the Protexic divestiture, the Company wrote off net assets totaling $ 74,644 , including $ 16,559 of allocated goodwill and reclassified $ 2,913 of cumulative translation adjustment losses from Accumulated Other Comprehensive Loss, resulting in a net pretax gain of $ 905 , which is included in “(Loss)/Gain on divestiture of business and other assets” in the Company’s Consolidated Statements of Income.

The Company used the majority of the cash proceeds from the sale to pay down debt.

In connection with the Protexic divestiture, the Company wrote off net assets totaling $ 74,644 , including $ 16,559 of allocated goodwill and reclassified $ 2,913 of cumulative translation adjustment losses from accumulated other comprehensive loss, resulting in a net pretax gain of $ 905 , which is included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

On July 1, 2023, the Company completed the sale of its U.S.

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BulkSak Holdings, LLC.

The cash selling price, as adjusted for the final working capital settlement, was $ 20,271 with cash proceeds totaling $ 18,271 received in 2023, and the remaining $ 2,000 held in escrow to be released to the Company within eighteen months from the date of the sale, pursuant to the settlement of any indemnity claims.

The escrow balance of $ 2,000 is reflected in “Other receivables” in the Company’s Consolidated Balance Sheet as of December 31, 2024.

The cash selling price, as adjusted for the final working capital settlement, was $ 20,271 with net cash proceeds totaling $ 18,271 received in 2023 and the remaining $ 2,000 released to the Company from escrow in February 2025.

As a result of the U.S.

BulkSak divestiture, the Company wrote off net assets totaling $ 13,437 , including $ 3,333 of allocated goodwill, and recognized a total pretax gain of $ 6,834 upon completion of the sale.

The gain, of which $ 7,371 was recognized in the second quarter of 2023, as reflected in “(Loss)/Gain on divestiture of business and other assets” in the Company’s Consolidated Statements of Income, was reduced by $ 537 in the third quarter of 2023 upon the final working capital settlement.

BulkSak divestiture, the Company wrote off net assets totaling $ 13,437 , including $ 3,333 of allocated goodwill, and resulting in a net pretax gain of $ 6,834 , which is included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

F-17 FORM 10-K SONOCO 2025 ANNUAL REPORT

Also on July 1, 2023, the Company agreed to the sale of its Mexico BulkSak business.

The sale closed in December 2023 for a cash selling price, as adjusted for working capital, of $ 1,096 .

As a result of the Mexico BulkSak sale, the Company recognized a pretax gain of $ 85 which is included in “(Loss)/Gain on divestiture of business and other assets” in the Company’s Consolidated Statements of Income.

F-18 FORM 10-K SONOCO 2024 ANNUAL REPORT

As a result of the Mexico BulkSak sale, the Company recognized a pretax gain of $ 85 which is included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

On January 26, 2023, the Company completed the sale of its S3 business, a provider of customized waste and recycling management programs and part of the Company’s Industrial Paper Packaging segment, to Northstar.

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In the second quarter of 2024, upon resolution of certain contingencies, the Company received cash proceeds and recognized an additional pretax gain of $ 1,250 on the sale.

These gains are included in “(Loss)/Gain on divestiture of business and other assets” in the Company’s Consolidated Statements of Income for their respective periods.

These gains are included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income for their respective periods.

On January 26, 2023, in connection with the sale of the S3 business, the Company acquired a 2.7 % equity interest in Northstar valued at $ 5,000 .

This Company sold its equity interest in Northstar on December 23, 2024 for cash proceeds of $ 8,630 .

The resulting pretax gain of $ 3,630 is included in “Other (expenses)/income, net” in the Company’s Consolidated Statements of Income for the year ended December 31, 2024.

The divestitures of the two production facilities in China, Protexic, S3, and BulkSak businesses did not represent a strategic shift for the Company or have a major effect on its operations or financial results.

Consequently, these sales did not meet the criteria for reporting as discontinued operations.

The cash proceeds from the sales were used for general corporate purposes.

The resulting pretax gain of $ 3,630 is included in “ Other (expense)/income, net ” in the Company’s Consolidated Statements of Income for the year ended December 31, 2024.

The ThermoSafe and other divestitures did not represent a strategic shift for the Company or have a major effect on its operations or financial results.

Consequently, these divestitures did not meet the criteria for reporting as discontinued operations.

Cash proceeds from these sales were used to pay down debt and for general corporate purposes.

The Company continually assesses its operational footprint as well as its overall portfolio of businesses and may consider the divestiture of plants and/or business units it considers to be suboptimal or nonstrategic.

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Accordingly, on March 29, 2023, the Company sold its timberland properties, consisting of approximately 55,000 acres, to Manulife Investment Management for net cash proceeds of $ 70,802 .

The Company disposed of assets with a net book value of $ 9,857 as part of the sale and recognized a pretax gain from the sale of these assets of $ 60,945 during the year ended December 31, 2023, which is included in “(Loss)/Gain on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

The Company disposed of assets with a net book value of $ 9,857 as part of the sale and recognized a pretax gain from the sale of these assets of $ 60,945 during the year ended December 31, 2023, which is included in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income.

Additional Ownership Investment

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The outstanding investment of $ 21,212 as of December 31, 2025 is included within “Other assets” in the Company’s Consolidated Balance Sheet.

The remeasurement of the carrying value of the existing investment to fair value during the second quarter of 2024 resulted in a gain of $ 5,867 and interest income of $ 145 , which are included in “Other (expenses)/income, net” and “Interest income,” respectively, in the Company’s Consolidated Statements of Income.

The remeasurement of the carrying value of the existing investment to fair value during the second quarter of 2024 resulted in a gain of $ 5,867 and interest income of $ 145 , which are included in “ Other (expense)/income, net ” and “Interest income,” respectively, in the Company’s Consolidated Statements of Income.

Acquisition, Integration, and Divestiture-Related Costs

Acquisition, integration, and divestiture-related costs from continuing operations of $ 125,169 , $ 24,624 , and $ 70,210 were incurred in 2024, 2023 and 2022, respectively.

The majority of costs incurred in 2024 related to the acquisition of Eviosys.

These costs include legal and professional fees, investment banking fees, representation and warranty insurance premiums, as well as employee-related and other integration activity costs, that are included in “Selling, general and administrative expenses” in the Company’s Consolidated Statements of Income.

The costs incurred in 2024, 2023, and 2022 also include fair value adjustments to acquisition-date inventory totaling $ 5,806 , $ 5,227 , and $ 33,155 , respectively, that are included in “Cost of sales” in the Company’s Consolidated Statements of Income.

The costs incurred in 2024 also include losses on treasury lock derivative instruments and amortization of financing fees related to debt instruments associated with the financing of the Eviosys acquisition totaling $ 33,569 that are included in “Interest expense” in the Company’s Consolidated Statements of Income.

Acquisition, integration, and divestiture-related costs from continuing operations incurred in 2025, 2024 and 2023, were as follows:

Year Ended December 31,

2025 2024 2023

Cost of sales $ 17,053 $ 5,806 $ 5,227

Selling, general and administrative expenses 37,078 85,794 19,397

Interest expense — 33,569 —

Total acquisition, integration, and divestiture-related costs $ 54,131 $ 125,169 $ 24,624

Acquisition, integration, and divestiture-related costs included in “Cost of sales” in the Company’s Consolidated Statements of Income consist primarily of amortization of the fair value step-up of finished goods inventory, while such costs included in “Selling, general and administrative expenses” consist primarily of legal and professional fees, investment banking fees, representation and warranty insurance premiums, as well as employee-related costs, and other integration activity costs.

Acquisition, integration, and divestiture-related costs included in “Interest expense” include losses on treasury lock derivative instruments and amortization of financing fees related to debt instruments associated with the financing of the Eviosys acquisition.

Restructuring and asset impairment

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The amount of these costs can vary significantly from quarter to quarter and from year to year depending upon the scope, nature, and location of the restructuring activities.

F-18 FORM 10-K SONOCO 2025 ANNUAL REPORT

Following are the total restructuring and asset impairment charges, net of adjustments, recognized during the periods presented:

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2025 2024 2023

Restructuring and restructuring-related asset impairment charges $ 65,370 $ 47,909 $ 42,290

Restructuring and restructuring-related asset impairment charges, net

$ 66,215 $ 65,370 $ 47,909

Other asset impairments — — —

Restructuring/Asset impairment charges $ 65,370 $ 47,909 $ 52,385

Restructuring/Asset impairment charges, net

$ 66,215 $ 65,370 $ 47,909

The table below sets forth restructuring and restructuring-related asset impairment charges by type incurred:

F-19 FORM 10-K SONOCO 2024 ANNUAL REPORT

Year Ended December 31,

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Other Costs 12,753 12,344 7,951

Total restructuring and restructuring-related asset impairment charges $ 65,370 $ 47,909 $ 42,290

Restructuring and restructuring-related asset impairment charges, net

$ 66,215 $ 65,370 $ 47,909

The table below sets forth restructuring and restructuring-related asset impairment charges by reportable segment:

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Corporate 3,703 10,754 2,497

Total restructuring and restructuring-related asset impairment charges $ 65,370 $ 47,909 $ 42,290

“Restructuring and restructuring-related asset impairment charges” and “Other asset impairments” are included in “Restructuring/Asset impairment charges” in the Consolidated Statements of Income.

The following table sets forth the activity in the restructuring accrual included in “Accrued expenses and other” in the Company’s Consolidated Balance Sheets:

Restructuring and restructuring-related asset impairment charges, net

$ 66,215 $ 65,370 $ 47,909

“Restructuring and restructuring-related asset impairment charges” and “Other asset impairments” are included in “Restructuring/Asset impairment charges, net” in the Consolidated Statements of Income.

The following table sets forth the activity in the restructuring accrual included in “Accrued expenses and other payables” in the Company’s Consolidated Balance Sheets:

Accrual Activity Severance

Liability, December 31, 2022 $ 12,780 $ — $ 1,286 $ 14,066

and Termination

Benefits Asset

Impairment/ Disposal

of Assets Other

Liability at December 31, 2023 $ 8,864 $ — $ 272 $ 9,136

2024 charges 37,307 15,719 12,344 65,370

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Foreign currency translation ( 484 ) — ( 97 ) ( 581 )

Liability, December 31, 2023

$ 8,864 $ — $ 272 $ 9,136

2024 charges 37,307 15,719 12,344 65,370

Liability at December 31, 2024 $ 24,034 $ — $ 909 $ 24,943

2025 charges/(gains) 68,795 ( 15,333 ) 12,753 66,215

Cash (payments)/receipts ( 38,367 ) 45,675 ( 10,779 ) ( 3,471 )

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Foreign currency translation 1,166 — 644 1,810

Liability, December 31, 2024

$ 24,034 $ — $ 909 $ 24,943

“Severance and Termination Benefits” in 2024 includes the cost of severance for approximately 300 employees whose positions were eliminated in conjunction with the Company’s ongoing organizational effectiveness efforts, including the relocation of certain facilities in Greece and Germany, and severance related to the closures of paper mills in Sumner, Washington (the “Sumner Mill”) and Kilkis, Greece (the “Kilkis Mill”), the closures of two small industrial converted products facilities in China, and the closure of an industrial converted products facility in Mississauga, Canada, all part of the Industrial Paper Packaging segment.

“Severance and Termination Benefits” in 2023 include the cost of severance for approximately 200 employees whose positions were eliminated in conjunction with the Company’s ongoing organizational effectiveness efforts and severance related to the following plant closures:

paper mills in Hutchinson, Kansas and Indonesia, part of the Industrial Paper Packaging segment;

a metal packaging facility in the United States, part of the Consumer Packaging segment;

and severance related to the closures of several smaller operations.

Liability at December 31, 2025 $ 55,628 $ — $ 3,527 $ 59,155

“ Severance and Termination Benefits ” in 2025 include the cost of severance for approximately 450 employees whose positions were eliminated in conjunction with the Company’s ongoing organizational effectiveness efforts, as well as severance costs related to the closures of metal can facilities in France and Spain, part of the Consumer Packaging segment, and the closures of a paper mill in Mexico, cone facilities in Taiwan and Mexico, and partitions facilities in Maine and California, all part of the Industrial Paper Packaging segment.

“Severance and Termination Benefits” in 2024 include the cost of severance for approximately 300 employees whose positions were eliminated in conjunction with the Company’s ongoing organizational effectiveness efforts, including the relocation of certain facilities in Greece and Germany, and severance related to the closures of paper mills in Sumner, Washington (the “Sumner Mill”) and Kilkis, Greece (the “Kilkis Mill”), the closures of two small industrial converted products facilities in China, and the closure of an industrial converted products facility in Mississauga, Canada, all part of the Industrial Paper Packaging segment.

“Asset Impairment/Disposal of Assets” in 2025 consist primarily of asset impairment charges related to the closures of the paper mill in Mexico, the cone facilities in China and Mexico, and the partitions facilities in Maine and California, all part of the Industrial Paper Packaging segment, and the closure of the metal packaging facility in France, part of the Consumer Packaging segment.

These charges were offset by gains from the sales of the land and buildings associated with previously closed facilities, primarily the cone facility in Taiwan and the partitions facility in Maine.

Also offsetting the impairment charges was a gain from the sale of water rights at our former paper mill in Hutchinson, Kansas, which was closed in 2023.

F-19 FORM 10-K SONOCO 2025 ANNUAL REPORT

“Asset Impairment/Disposal of Assets” in 2024 consist primarily of asset impairment charges related to the closures of the Sumner Mill and the Kilkis Mill, both part of the Industrial Paper Packaging segment, and the exit of a small metal canning lid business within Metal Packaging, part of the Consumer Packaging segment.

These charges were partially offset by gains from the sales of previously closed facilities that were part of the Industrial Paper Packaging and Consumer Packaging segments.

“Asset Impairment/Disposal of Assets” in 2023 consist primarily of asset impairment charges related to the closure of a paper mill in Hutchinson, Kansas, part of the Industrial Paper Packaging segment, and a metal packaging facility in the United States, part of the Consumer Packaging segment.

These charges were partially offset by gains from the sale of previou sly impaired assets.

“Other Costs” in 2025 consist primarily of equipment removal, utilities, plant security, property taxes, insurance and environmental remediation costs related to the prior year’s closure of the Company’s paper mill in Washington, costs related to the current year’s closures of the metal can facilities in France and Spain, the paper mill in Mexico, the cone facility in Taiwan, and ongoing facility carrying costs of previously announced plant closures.

“ Other Costs ” in 2024 consist primarily of equipment removal, utilities, plant security, property taxes, insurance and environmental remediation costs related to the closure of the Sumner Mill, and ongoing facility carrying costs of previously announced plant closures.

“Other Costs” in 2023 consist primarily of costs related to plant closures including equipment removal, utilities, plant security, property taxes and insurance.

The Company expects to pay the majority of the remaining restructuring reserves by the end of 2026 using cash generated from operations.

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The Company continually evaluates its cost structure, including its manufacturing capacity, and additional restructuring actions are likely to be undertaken.

F-20 FORM 10-K SONOCO 2024 ANNUAL REPORT

Other Asset Impairments

The Company recognized other asset impairment charges totaling $ 10,095 for the year ended December 31, 2022, as a result of exiting our operations in Russia, consisting of two small tube and core plants in the Industrial Paper Packaging segment.

These charges include $ 3,747 of cumulative translation losses that were reclassified from accumulated other comprehensive income upon completion of the Company's exit from Russia on July 1, 2022.

These impairment charges are included in “Restructuring/Asset impairment charges” in the Company’s Consolidated Statements of Income.

Book cash overdrafts and cash pooling

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5,674,508 5,345,688

Accumulated depreciation and depletion ( 2,626,941 ) ( 2,583,298 )

Accumulated depreciation ( 2,876,708 ) ( 2,626,941 )

Property, plant and equipment, net $ 2,797,800 $ 2,718,747

Depreciation and depletion expense amounted to $ 224,595 in 2024, $ 202,917 in 2023 and $ 179,746 in 2022.

Depreciation expense amounted to $ 324,185 in 2025, $ 224,595 in 2024 and $ 202,917 in 2023.

The Company routinely enters into leasing arrangements for real estate (including manufacturing facilities, office space, and warehouses), transportation equipment (automobiles, forklifts, and trailers), and office equipment (copiers and postage machines).

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The Company’s leases do not have any significant residual value guarantees or restrictive covenants.

On November 3, 2025, the Company completed the sale of ThermoSafe, part of the All Other group of businesses.

The divestiture included operating lease assets of $ 20,825 and operating lease liabilities of $ 21,082 as well as finance lease assets of $ 2,743 with finance lease liabilities of $ 2,920 .

The Company completed the Eviosys acquisition on December 4, 2024.

The acquisition included operating lease liabilities of $ 42,468 with a weighted-average remaining lease maturity term and discount rate of 8.1 years and 4.5 %, respectively.

The Company completed the acquisitions of the Chattanooga Mill and the remaining interest in RTS Packaging on September 8, 2023, which included operating lease liabilities of $ 34,604 with a weighted-average remaining lease maturity term and discount rate of 11.5 years and 6.4 %, respectively.

See Note 4 for additional information about these acquisitions.

The acquisition included operating lease liabilities of $ 42,468 with a weighted-average remaining lease maturity term of 8.1 years and weighted-average discount rate of 4.5 %.

The Company completed the divestiture of Protexic on April 1, 2024.

The divestiture included operating lease assets of $ 21,989 and operating lease liabilities of $ 22,396 .

For additional information about the Company’s acquisitions and divestitures, see Note 4.

F-20 FORM 10-K SONOCO 2025 ANNUAL REPORT

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Lease Liabilities

Current operating lease liabilities Accrued expenses and other $ 52,648 $ 44,279

Current operating lease liabilities Accrued expenses and other payables $ 53,978 $ 52,648

Current finance lease liabilities Notes payable and current portion of long-term debt 11,617 22,284

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Noncurrent operating lease liabilities Noncurrent Operating Lease Liabilities $ 263,192 $ 258,735

Noncurrent finance lease liabilities Long-term Debt, net of current portion 45,344 55,341

Noncurrent finance lease liabilities Long-term Debt 41,925 45,344

Total noncurrent lease liabilities $ 305,117 $ 304,079

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Total lease cost $ 130,171 $ 97,313 $ 91,241

(a) Production-related and administrative amounts are included in cost of sales and selling, general and administrative expenses, respectively.

(a) Production-related costs are included in “Cost of sales” and administrative costs are included in “Selling, general and administrative expenses” in the Consolidated Statements of Income.

(b) Included in depreciation and amortization.

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(d) Also includes short term lease costs, which are deemed immaterial.

(e) Impairment charges are included in “Restructuring/asset impairment charges” in the Company’s Consolidated Statements of Income.

See Note 5 for more information.

(e) Impairment charges are included in “Restructuring/Asset impairment charges, net” in the Company’s Consolidated Statements of Income.

See Note 5 for additional information.

The following table sets forth the five-year maturity schedule of the Company’s lease liabilities as of December 31, 2025:

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F-21 FORM 10-K SONOCO 2025 ANNUAL REPORT

The following tables set forth the Company’s weighted average remaining lease term and discount rates used in the calculation of its outstanding lease liabilities at December 31, 2024, 2023, and 2022, along with other lease-related information for the years ended December 31, 2024, 2023, and 2022:

The following tables set forth the Company’s weighted average remaining lease term and discount rates used in the calculation of its outstanding lease liabilities at December 31, 2025, 2024, and 2023, along with other lease-related information for those years:

Lease Term and Discount Rate 2025 2024 2023

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Financing cash flows used by finance leases $ 14,997 $ 15,433 $ 14,617

Noncash investing and financing activities:

Leased assets obtained in exchange for new operating lease liabilities $ 42,646 $ 66,585 $ 18,225

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Termination reclasses to decrease finance lease liabilities $ 305 $ 271 $ 482

F-22 FORM 10-K SONOCO 2025 ANNUAL REPORT

Goodwill and other intangible assets

Changes in the carrying amount of goodwill by segment for the year ended December 31, 2025, are as follows:

Industrial Paper

Packaging Industrial Paper Packaging All Other Total

Balance as of January 1, 2025

$ 1,807,971 $ 486,636 $ 231,050 $ 2,525,657

1,285,518 — — 1,285,518

Divestitures — ( 2,043 ) ( 173,250 ) ( 175,293 )

Measurement period adjustments ( 27,399 ) — — ( 27,399 )

Foreign currency translation 167,419 23,783 ( 2,556 ) 188,646

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$ 1,947,991 $ 508,376 $ 55,244 $ 2,511,611

Goodwill activity reflected under the caption “Acquisitions” relates to the December 2024 acquisition of Eviosys, and goodwill activity reflected under the caption “Divestitures” relates to the April 2024 divestiture of Protexic.

Goodwill activity reflected under the caption “Measurement period adjustments” relates to the December 2024 acquisition of Eviosys.

Goodwill activity reflected under the caption “Divestitures” relates to the November 2025 sale of the ThermoSafe business, part of the All Other group of businesses, and the April 2025 sale of a small recycling business in Asheville, North Carolina, part of the Industrial Paper Packaging segment.

See Note 4 for additional information.

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The Company completed its most recent annual goodwill impairment testing during the third quarter of 2025 and analyzed certain qualitative and quantitative factors in determining whether a goodwill impairment existed.

The Company’s assessments reflected a number of significant management assumptions and estimates including the Company’s forecast of sales growth, gross profit margins, and discount rates.

The Company’s assessments reflected a number of significant management assumptions and estimates including the Company’s forecast of sales growth during the discrete period, EBITDA, and discount rates.

Changes in these assumptions could materially impact the Company’s conclusions.

Based on its assessments, the Company concluded that there was no impairment of goodwill for any of its reporting units.

Although no reporting units failed the annual impairment test, in management’s opinion, the goodwill balances of the Plastics-Medical, Plastics-Food, and Metal Packaging reporting units are individually at risk of impairment in the near term if each reporting unit’s operation does not perform in line with management’s expectations, or if there is a negative change in the long-term financial outlook for each reporting unit or in other factors such as the particular discount rates used.

Both the Plastics-Medical and Plastics-Food reporting units are part of the Company’s Thermoformed and Flexibles Packaging business and are included in the pending sale of TFP to Toppan.

See Notes 1 and 2 for additional information.

In the case of Metal Packaging, t he lower differential between the fair value and carrying value of the reporting unit is due to the acquisition of Ball Metalpack Holding, LLC in 2022, at which time the majority of assets and liabilities acquired were recorded at fair value.

The total goodwill associated with the Plastics-Medical and Plastics-Food reporting units at December 31, 2024 was $ 63,575 and $ 198,807 , respectively, and are reflected in “Non-current assets of discontinued operations” in the Company’s Consolidated Balance Sheets.

The total goodwill associated with the Metal Packaging reporting unit at December 31, 2024 was $ 384,315 and is reflected in “Goodwill” in the Company’s Consolidated Balance Sheets.

F-23 FORM 10-K SONOCO 2024 ANNUAL REPORT

In the annual goodwill impairment analysis completed during the third quarter of 2024, projected future cash flows for the Plastics-Medical, Plastics-Food, and Metal Packaging reporting units were discounted at 11.5 %, 10.5 %, and 11.0 %, respectively, and their estimated fair values were determined to exceed their individual carrying values by approximately 18.7 %, 18.9 %, and 12.6 %, respectively.

Based on the discounted cash flow model and holding other valuation assumptions constant, the discount rates for the Plastics-Medical, Plastics-Food and Metal Packaging reporting units would have to increase to 13.8 %, 12.4 %, and 12.1 %, respectively, in order for the estimated fair values of the reporting units to fall below their carrying values.

Although no reporting units failed the annual impairment test, in management’s opinion, the goodwill balances of t he Metal Packaging EMEA and Global Paper Products Asia Pacific (“APAC”) reporting units are at risk of impairment in the near term if the reporting unit’s operations do not perform in line with management’s expectations, or if there is a negative change in the long-term financial outlook for the reporting unit or in other factors such as the discount rate.

In the case of Metal Packaging EMEA, the lower differential between the fair value and carrying value of the reporting unit is due to the acquisition of Eviosys in December 2024, at which time the majority of assets and liabilities acquired were recorded at fair value.

In the annual goodwill impairment analysis completed during the third quarter of 2025, projected future cash flows for the Metal Packaging EMEA and Global Paper Products APAC reporting units were discounted at 12.0 % and 13.0 %, respectively, and their estimated fair values were determined to exceed their individual carrying values by approximately 3.1 % and 9.0 %, respectively.

Based on equal weighting of the income and market approaches and holding other valuation assumptions constant, the discount rates for the Metal Packaging EMEA and Global Paper Products APAC reporting units would have to increase to 12.7 % and 15.4 %, respectively, or projected EBITDA across all future periods would have to be reduced by approximately 3.0 % and 8.4 %, respectively, in order for the estimated fair values of the reporting units to fall below carrying values.

At December 31, 2025, the total goodwill associated with the Metal Packaging EMEA and Global Paper Products APAC reporting unit was $ 1,397,039 and $ 26,867 , respectively.

During the time subsequent to the annual evaluation, and at December 31, 2025, the Company considered whether any events and/or changes in circumstances had resulted in the likelihood that the goodwill of any of its reporting units may have been impaired.

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Proprietary technology

( 41,990 ) ( 26,203 )

Other ( 1,193 ) ( 1,436 )

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Other Intangible Assets, Net $ 2,683,474 $ 2,586,698

The acquisition of Eviosys in December 2024 resulted in the addition of $ 1,967,678 of intangible assets, primarily related to customer lists.

These intangibles will be amortized over an average useful life of 18.9 years.

The fair values of intangible assets associated with this acquisition were determined using an income valuation approach.

“Total Other Intangibles Assets, gross” and “Total Accumulated Amortization” were both reduced by $ 54,860 during the year ended December 31, 2024 as a result of the divestiture of Protexic in April 2024.

These fully amortized intangible assets consisted primarily of customer lists.

During 2025, the Company recorded measurement period adjustments related to the December 2024 acquisition of Eviosys that increased the previously reported fair value of customer lists by $ 42,379 .

The effect on amortization expense in the prior period was immaterial.

In addition, the Company wrote off other intangible assets, primarily customer lists, with a net book value of $ 1,455 as a result of the divestiture of a small recycling business in Asheville, North Carolina.

See Note 4 for additional information.

F-23 FORM 10-K SONOCO 2025 ANNUAL REPORT

In conjunction with the sale of ThermoSafe on November 3, 2025, the Company disposed of intangible assets with a net book value of $ 9,405 .

The gross value of these intangible assets, which consisted primarily of customer lists and trade names, was $ 89,607 and the accumulated amortization was $ 80,202 at the time of the sale.

Other intangible assets are amortized using the straight-line method over their respective useful lives when management determines that the straight-line method approximates the pattern of consumption of the respective intangible assets or in relation to the asset’s specific pattern of consumption if management determines that the straight-line method does not provide a fair approximation of the consumption of benefits.

These lives generally range from three to forty years .

These lives generally range from three to twenty years .

The Company has no intangible assets with indefinite lives.

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Supply chain financing

The following table sets forth the balance sheet location and rollforward of the Company’s outstanding obligations confirmed under its SCF Programs for the year ended December 31, 2024:

Balance Sheet Location December 31, 2024

The following table sets forth the balance sheet location and rollforward of the Company’s outstanding obligations confirmed under its SCF Programs for the years ended December 31, 2025 and 2024:

Balance Sheet Location 2025 2024

Confirmed obligations outstanding at the beginning of the year Payable to suppliers $ 28,496 $ 24,779

Invoices confirmed during the year (a) (b)

Confirmed invoices paid during the year (b)

187,392 96,785

Confirmed invoices paid during the year (b) (c)

( 162,766 ) ( 93,068 )

Confirmed obligations outstanding at the end of the year Payable to suppliers $ 53,122 $ 28,496

(a) Includes $ 7,547 of obligations under SCF programs acquired in the acquisition of Eviosys on December 4, 2024.

(b) The net payment of these obligations, exclusive of the $ 7,547 of obligations acquired in the acquisition of Eviosys, is included in “Net cash provided by operating activities” in the Company’s Consolidated Statements of Cash Flows.

F-24 FORM 10-K SONOCO 2024 ANNUAL REPORT

(a) Invoices confirmed in 2025 exclude $ 7,763 of obligations under SCF Programs divested upon the sale of ThermoSafe on November 3, 2025 and invoices confirmed in 2024 include $ 7,547 of obligations assumed upon the acquisition of Eviosys on December 4, 2024.

(b) The net payment of these obligations, exclusive of the $ 7,547 of obligations acquired in the acquisition of Eviosys in 2024, is included in “Net cash provided by operating activities” in the Company’s Consolidated Statements of Cash Flows.

Details of the Company’s debt at December 31 were as follows:

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1.80 % notes due February 2025

399,933 399,149

4.45 % notes due September 2026

498,749 496,869

2.25 % notes due February 2027

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4.60 % notes due September 2029

595,694 594,519

3.125 % notes due May 2030

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5.00 % notes due September 2034

690,857 689,802

5.75 % notes due November 2040

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Long-term debt $ 3,788,973 $ 4,985,496

On July 12, 2024, the Company entered into a credit agreement with the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent which provides the Company with the ability to borrow up to $ 700,000 on an unsecured basis (the “Term Loan Facility”) to finance a portion of the cash consideration for the Company’s acquisition of Eviosys.

The Company drew down the entire Term Loan Facility on December 2, 2024 in connection with the consummation of the Eviosys acquisition on December 4, 2024.

Borrowings under the Term Loan Facility, net of any prepayments, will become payable in full on December 2, 2026 and will bear interest at a fluctuating rate per annum equal to, at the Company’s option, (i) the forward-looking Secured Overnight Financing Rate term rate (such borrowings, “Term SOFR Loans”), (ii) a base rate, or (iii) a combination thereof, plus, in each case, an applicable margin calculated based on the Company’s credit ratings and, in the case of Term SOFR Loans, an adjustment of 10 basis points.

On February 3, 2025, the Company repaid the $ 400,000 aggregate principal amount of its 1.80 % notes upon their maturity using proceeds from the issuance of commercial paper.

On September 16, 2024, the Company entered into a credit agreement with the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent which provides the Company with the ability to borrow up to $ 1,500,000 on an unsecured basis (the “ 364 -Day Term Loan Facility”) to finance a portion of the cash consideration for the Company’s acquisition of Eviosys.

The Company drew down the entire 364 -Day Term Loan Facility on December 2, 2024 in connection with the consummation of the Eviosys acquisition on December 4, 2024.

Borrowings under the 364 -Day Term Loan Facility, net of any prepayments, will become payable in full on December 1, 2025 and will bear interest under the same terms as the Term Loan Facility.

Borrowings under the 364 -Day Term Loan Facility, became payable upon completion of the TFP divestiture.

Accordingly, on April 3, 2025, the Company repaid the outstanding $ 1,500,000 principal amount of borrowings using a portion of the cash proceeds from the sale of TFP.

F-24 FORM 10-K SONOCO 2025 ANNUAL REPORT

On July 12, 2024, the Company entered into a credit agreement with the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent which provided the Company with the ability to borrow up to $ 700,000 on an unsecured basis (the “Term Loan Facility”) to finance a portion of the cash consideration for the Company’s acquisition of Eviosys.

The Company drew down the entire Term Loan Facility on December 2, 2024 in connection with the consummation of the Eviosys acquisition on December 4, 2024.

Borrowings under the Term Loan Facility became payable upon completion of the ThermoSafe divestiture.

Accordingly, on November 5, 2025, the Company repaid the outstanding $ 700,000 principal amount of borrowings using cash proceeds from the sale of ThermoSafe and the issuance of commercial paper.

On September 19, 2024, the Company completed a registered public offering of senior unsecured notes (the “Notes”) in a combined aggregate principal amount of $ 1,800,000 .

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See Note 4 for more information.

Included in “Other foreign denominated debt” at December 31, 2024 is $ 73,487 of transfers of certain trade receivables of Eviosys to third-party financial institutions for which the requirements to be accounted for as true sale in accordance with the guidance under ASC 860 were not met.

Included in “Other foreign denominated debt” at December 31, 2024 are $ 73,487 of transfers of certain trade receivables of Eviosys to third-party financial institutions for which the requirements to be accounted for as true sale in accordance with the guidance under ASC 860 “Transfers and Servicing,” were not met.

Additions to and settlements of these obligations during the year ended December 31, 2025 are reflected as “ Proceeds from issuance of debt ” and “ Principal repayment of debt ,” respectively, in “ Net cash (used)/provided by financing activities ” in the Company’s Consolidated Statements of Cash Flows.

All of these obligations had been settled as of December 31, 2025.

In conjunction with the announcement of the acquisition of Eviosys, the Company entered into a commitment letter with certain financial institutions that provided for a 364 -day senior unsecured bridge term loan facility (the “Bridge Loan Facility”) on June 22, 2024 in an aggregate amount of up to $ 4,000,000 to secure funding of the acquisition.

1 unchanged sentence

Fees related to the Bridge Loan Facility of $ 19,000 were amortized to interest expense during the year ended December 31, 2024 .

F-25 FORM 10-K SONOCO 2024 ANNUAL REPORT

On August 7, 2023, the Company entered into a credit agreement with a consortium of Farm Credit System institutions and CoBank, ACB, as Administrative Agent (the “Syndicated Term Loan Agreement”).

3 unchanged sentences

Borrowings under the Syndicated Term Loan Facility, net of any prepayments, will become payable in full on August 7, 2028.

During the years ended December 31, 2024 and December 31, 2023 , the Company repaid $ 75,000 and $ 295,000 , respectively, of the amounts drawn under the Syndicated Term Loan Facility.

During the years ended December 31, 2024 and 2023 , the Company repaid $ 75,000 and $ 295,000 , respectively, of the amounts drawn under the Syndicated Term Loan Facility.

Borrowings under the Syndicated Term Loan Facility bear interest at a fluctuating rate per annum equal to, at the Company’s option, (i) the forward-looking SOFR term rate (“Term SOFR” and such borrowings, “Syndicated Term SOFR Loans”), (ii) a base rate set forth in the Syndicated Term Loan Agreement, or (iii) a combination thereof, plus, in each case, an applicable margin calculated based on the Company’s credit ratings and, in the of case of Syndicated Term SOFR Loans, a SOFR Adjustment (as defined in the Syndicated Term Loan Agreement) of 0.1 %.

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Based on the pricing grid, the credit agreement for the revolving credit facility and Sonoco’s current credit ratings, any drawings are subject to the Term SOFR plus the 137.5 basis points margin.

F-25 FORM 10-K SONOCO 2025 ANNUAL REPORT

The principal requirements of debt maturing in the next five years are:

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As of December 31, 2025, the Company has scheduled debt maturities through the next twelve months of $ 537,952 .

At December 31, 2024, the Company had $ 443,060 in cash and cash equivalents on hand, including discontinued operations, and $ 1,250,000 in committed capacity available for drawdown under its revolving credit facility.

The Company believes that these amounts, combined with expected net cash flows from operating activities, provide ample liquidity to cover these debt maturities and other cash flow needs of the Company over the course of the next year.

On February 3, 2025, the Company repaid the 1.80 % notes due February 2025 using proceeds from the issuance of commercial paper.

At December 31, 2025, the Company had $ 378,398 in cash and cash equivalents on hand, and $ 1,250,000 in committed capacity available for drawdown under its revolving credit facility.

The Company believes that these amounts, combined with expected net cash flows from operating activities, provide ample liquidity to cover debt maturities and other cash flow needs of the Company over the course of the next year.

In addition, the Company had approximately $ 287,325 available under unused short-term lines of credit at December 31, 2025.

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December 31, 2025 December 31, 2024

Value Carrying

Long-term debt, net of current portion $ 3,788,973 $ 3,728,480 $ 4,985,496 $ 4,800,455

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These contracts, which have maturities ranging through December 2026, qualify as cash flow hedges under GAAP.

For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item.

Cash flows from derivative

F-26 FORM 10-K SONOCO 2024 ANNUAL REPORT

financial instruments designated as cash flow hedges are classified as cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows.

For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income/(loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item.

Cash flows from derivative financial instruments designated as cash flow hedges are classified as cash flows from operating activities in the Company’s Consolidated Statements of Cash Flows.

Commodity Cash Flow Hedges

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At December 31, 2025, there were no natural gas swaps covering anticipated natural gas usage in 2026 and aluminum swaps covering 6,133 metric tons of aluminum represented approximately 27 % of anticipated aluminum usage for 2026.

The fair values of the Company’s commodity cash flow hedges netted to a gain position of $ 652 and a loss position of $( 41 ) at December 31, 2024 and December 31, 2023, respectively.

The amount of t he gain included in accumulated other comprehensive loss at December 31, 2024, expected to be reclassified to the income statement during the next twelve months is $ 652 .

The fair values of the Company’s commodity cash flow hedges netted to a gain position of $ 1,683 and $ 652 at December 31, 2025 and December 31, 2024, respectively.

The amount of t he gain included in accumulated other comprehensive income/(loss) at December 31, 2025, expected to be reclassified to the income statement during the next twelve months is $ 1,508 .

The Company also has certain natural gas hedges that are not designated as cash flow hedges.

See “Non-Designated Derivatives” below for a discussion of these hedges.

F-26 FORM 10-K SONOCO 2025 ANNUAL REPORT

Foreign Currency Cash Flow Hedges

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Swedish krona sell ( 1,902 )

Czech koruna purchase 110,834

Canadian dollar purchase 15,274

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British pound sell ( 6,985 )

USD purchase 9,639

Euro Contracts

Euro purchase 4,741

Polish zloty purchase 3,650

British pound purchase 2,850

Thai baht purchase 620,976

Hungarian forint sell ( 5,560,396 )

The fair value of foreign currency cash flow hedges related to forecasted sales and purchases netted to a loss position of $( 1,841 ) at December 31, 2024, and a gain position of $ 1,502 at December 31, 2023.

The amount of the loss expected to be reclassified from accumulated other comprehensive loss to the income statement during the next twelve months is $( 1,841 ).

USD purchase 8,720

Hungarian forint purchase 9,026,735

Swiss franc purchase 2,274

The fair value of foreign currency cash flow hedges related to forecasted sales and purchases netted to a gain position of $ 49 at December 31, 2025, and a loss position of $( 1,841 ) at December 31, 2024.

The amount of the loss expected to be reclassified from accumulated other comprehensive income/(loss) to the income statement during the next twelve months is $ 103 .

Net Investment Hedge

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dollars at a fixed rate and to make semi-annual interest payments in euros at a fixed rate.

The risk management objective of entering into the swap agreements was to manage foreign currency risk relating to net investments in certain European subsidiaries denominated in euros.

The agreements were designated as net investment hedges for accounting purposes.

On April 15, 2024, as a result of the strengthening of the U.S.

1 unchanged sentence

and European interest rates, the Company terminated its swap agreements and received a net cash settlement of $ 9,068 .

The foreign currency translation gain of approximately $ 3,143 , net of tax, is included as a component of “Accumulated other comprehensive loss.”

Following the unwind of the swaps, the Company entered into new cross-currency swap agreements with a total notional amount of $ 500,000 in April 2024 to effectively convert a portion of the Company’s fixed-rate U.S.

The foreign currency translation gain of approximately $ 3,143 , net of tax, is included as a component of “Accumulated other comprehensive income/(loss).”

Following the unwind of the swaps, in April 2024 the Company entered into new cross-currency swap agreements with a total notional amount of $ 500,000 , maturing on May 1, 2027, to effectively convert a portion of the Company’s fixed-rate U.S.

dollar-denominated debt, including the semi-annual interest payments, to fixed-rate euro-denominated debt.

The new swap agreements, which have a maturity of May 1, 2027 share the same risk management objective as the terminated cross-currency swap agreements and are also designated as net investment hedges for accounting purposes.

In December 2024, the Company entered into additional cross-currency swap agreements with a total notional amount of $ 1,500,000 , including $ 500,000 maturing on September 1, 2026, $ 500,000 maturing on September 1, 2029, and $ 500,000 maturing on May 1, 2030.

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dollar-denominated debt, including the semi-annual interest payments, to fixed-rate euro-denominated debt at the prevailing market rate at execution.

The new swap agreements share the same risk management objective as the Company’s previously existing cross-currency swap agreements and are also designated as net investment hedges for accounting purposes.

On June 30, 2025, the Company entered into additional cross-currency swap agreements with a total notional amount of $ 285,000 , maturing on February 1, 2027.

The swaps effectively convert a portion of the Company’s fixed-rate U.S.

dollar-denominated debt, including the semi-annual interest payments, to fixed-rate euro-denominated debt at the prevailing market rate at execution.

All of the Company’s cross-currency swap agreements are designated as net investment hedges for accounting purposes and have the risk management objective of managing foreign currency risk relating to net investments in certain European subsidiaries denominated in euros.

The gain or loss on the net investment hedge derivative instruments is included in the “Foreign currency translation” component of “Accumulated other comprehensive loss” until the net investment is sold, diluted, or liquidated.

Interest payments received for the cross-currency swaps and the related excluded components are excluded from the net investment hedge effectiveness assessment and are recorded in “Interest expense” in the Company’s Condensed Consolidated Statements of Income.

Net interest income on the cross-currency swaps totaling $ 36,480 for the year ended December 31, 2025 is excluded from the net investment hedge effectiveness assessment and is recorded in “Interest expense” in the Company’s Consolidated Statements of Income.

The assumptions used in measuring fair value of the cross-currency swaps are considered level 2 inputs, which are based upon the Euro-to-U.S.

dollar exchange rate market.

The fair value of the Company’s net investment hedges was a gain position of $ 11,919 and a loss position of $( 5,073 ) at December 31, 2024 and December 31, 2023, respectively.

Foreign currency translation gain of $ 8,880 (net of income taxes of $ 3,039 ) and loss of $ 3,779 (net of income taxes of $ 1,294 ) were reported as components of “Accumulated other comprehensive loss” within “Foreign currency items” at December 31, 2024 and December 31, 2023, respectively.

F-27 FORM 10-K SONOCO 2024 ANNUAL REPORT

The fair value of the Company’s net investment hedges was a loss position of $( 207,203 ) and a gain position of $ 11,919 at December 31, 2025 and December 31, 2024, respectively.

A foreign currency translation loss of $( 154,366 ) (net of income taxes of $ 52,837 ) and gain of $ 8,880 (net of income taxes of $ 3,039 ) were reported as components of “Accumulated other comprehensive income/(loss)” within “Foreign currency items” at December 31, 2025 and December 31, 2024, respectively.

Non-Designated Derivatives

The Company routinely enters into other derivative contracts which are not designated for hedge accounting treatment under ASC 815, “Derivatives and Hedging.” As such, changes in fair value of these non-designated derivatives are recorded directly to income and expense in the periods that they occur.

F-27 FORM 10-K SONOCO 2025 ANNUAL REPORT

Foreign Currency Hedges

3 unchanged sentences

USD Contracts

Colombian peso purchase 66,306,243

Indonesian rupiah purchase 10,632,390

Colombian peso purchase 67,686,355

Mexican peso purchase 276,516

Turkish lira purchase 7,875

Canadian dollar purchase 4,224

Euro Contracts

British pound purchase 74,214

Polish zloty purchase 34,451

Thai Baht purchase 410,488

British pound sell ( 395 )

Polish zloty sell ( 51,337 )

Thai baht sell ( 550,013 )

Hungarian forint purchase 356,793

USD sell ( 2,880 )

Commodity Hedges

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At December 31, 2025, these contracts consisted of natural gas swaps covering approximately 3.0 million metric million British thermal units (“MMBTUs”) representing approximately 52.3 % of anticipated usage in North America for 2026.

At December 31, 2025, there were no non-designated contracts covering anticipated aluminum usage for 2026.

Interest Rate Hedges

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Commodity Contracts Prepaid expenses $ 1,508 $ 671

Commodity Contracts Accrued expenses and other ( 19 ) ( 108 )

Commodity Contracts Other Assets 175 —

Commodity Contracts Accrued expenses and other payables — ( 19 )

Foreign Exchange Contracts Prepaid expenses 1,131 2,068

Foreign Exchange Contracts Accrued expenses and other ( 3,909 ) ( 1,024 )

Foreign Exchange Contracts Other Assets 33 —

Foreign Exchange Contracts Accrued expenses and other payables ( 1,028 ) ( 3,909 )

Foreign Exchange Contracts Other Liabilities ( 87 ) —

Net investment hedge Prepaid expenses 19,358 26,833

Net investment hedge Other Assets — 1,845

Net investment hedge Accrued expenses and other payables ( 58,594 ) —

Net investment hedge Other Liabilities ( 167,967 ) ( 16,759 )

1 unchanged sentence

Commodity Contracts Prepaid expenses $ 185 $ 961

Commodity Contracts Accrued expenses and other ( 574 ) ( 6,782 )

Commodity Contracts Accrued expenses and other payables ( 1,517 ) ( 574 )

Foreign Exchange Contracts Prepaid expenses 1,106 ( 59 )

Foreign Exchange Contracts Accrued expenses and other ( 3,022 ) ( 159 )

Foreign Exchange Contracts Accrued expenses and other payables ( 887 ) ( 3,022 )

While certain of the Company’s derivative contract arrangements with its counterparties provide for the ability to settle contracts on a net basis, the Company reports its derivative positions on a gross basis.

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F-28 FORM 10-K SONOCO 2025 ANNUAL REPORT

The following tables set forth the effect of the Company’s derivative instruments on financial performance for the year ended December 31, 2024 and December 31, 2023, excluding the gains or losses on foreign currency cash flow hedges that were reclassified from accumulated other comprehensive loss to the carrying value of the capitalized expenditures:

Description Amount of Gain or

(Loss) Recognized

Location of Gain or

(Loss) Reclassified

from Accumulated

OCI Into Income

Amount of Gain

Reclassified from

Accumulated OCI

The following tables set forth the effect of the Company’s derivative instruments on financial performance for the year ended December 31, 2025 and December 31, 2024, excluding the gains or losses on foreign currency cash flow hedges that were reclassified from accumulated other comprehensive income/(loss) to the carrying value of the capitalized expenditures:

Description Amount of Gain or (Loss) Recognized in OCI on Derivatives Location of Gain or (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income

Derivatives in Cash Flow Hedging Relationships:

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Commodity Contracts $ 665 Cost of sales $ ( 28 )

Gain or (Loss)

Location of Gain or (Loss) Recognized in Income Statement

Gain or (Loss) Recognized Location of Gain or (Loss) Recognized in Income Statement

Derivatives not Designated as Hedging Instruments:

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Year Ended December 31, 2025 Year Ended December 31, 2024

Description Net Sales

Cost of Sales Net Sales

Cost of Sales

Description Net Sales Cost of sales Net Sales Cost of sales

Total amount of income and expense line items presented in the Consolidated Statements of Income $ 3,811 $ ( 2,110 ) $ ( 1,174 ) $ ( 281 )

2 unchanged sentences

Amount of gain or (loss) reclassified from accumulated other comprehensive income into net income $ 3,811 $ ( 2,557 ) $ ( 1,174 ) $ ( 253 )

Commodity contract:

Commodity contracts:

Amount of gain or (loss) reclassified from accumulated other comprehensive income into net income $ — $ 447 $ — $ ( 28 )

9 unchanged sentences

The following tables set forth information regarding the Company’s financial assets and financial liabilities that are measured at fair value on a recurring basis:

Description December 31, 2024 Assets measured at NAV (f) Level 1 Level 2 Level 3

Description December 31, 2025 Assets measured at NAV (f)

Level 1 Level 2 Level 3

Hedge derivatives, net:

Commodity contracts $ 1,683 $ — $ — $ 1,683 $ —

$ 652 $ — $ — $ 652 $ —

Foreign exchange contracts 49 — — 49 —

( 1,841 ) — — ( 1,841 ) —

Net investment hedge ( 207,203 ) — — ( 207,203 ) —

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Postretirement benefit plan assets:

Common Collective(a) 13,259 13,259 — — —

Common Collective Trust (a)

13,139 13,139 — — —

Mutual funds (b)

8 unchanged sentences

Total postretirement benefit plan assets $ 320,457 $ 81,675 $ 9,789 $ 228,993 $ —

Description December 31, 2023 Assets measured at NAV (f) Level 1 Level 2 Level 3

Description December 31, 2024 Assets measured at NAV (f)

Level 1 Level 2 Level 3

Hedge derivatives, net:

Commodity contracts 652 $ — $ — $ 652 $ —

$ ( 41 ) $ — $ — $ ( 41 ) $ —

Foreign exchange contracts ( 1,841 ) — — ( 1,841 ) —

1,502 — — 1,502 —

Net investment hedge 11,919 — — 11,919 —

3 unchanged sentences

Postretirement benefit plan assets:

Common Collective(a) 12,958 12,958 — — —

Common Collective Trust (a)

13,259 13,259 — — —

Mutual funds (b)

43,059 — — 43,059 —

Fixed income securities (c)

235,952 62,458 — 173,494 —

Short-term investments (d)

3,493 — — 3,493 —

Real estate funds (e)

480 480 — — —

Cash and accrued income 7,757 — 7,757 — —

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Fair value measurements for the Company’s derivatives are classified under Level 2 because such measurements are estimated based on observable inputs such as interest rates, yield curves, spot and future commodity prices and spot and future exchange rates.

None of the Company’s financial assets or liabilities are measured at fair value using significant unobservable inputs.

There were no transfers in or out of Level 1 or Level 2 fair value measurements during the years ended December 31, 2025 or 2024.

The Company measures certain non-financial assets and non-financial liabilities at fair value on a non-recurring basis.

See Note 4 for a discussion of assets acquired and liabilities assumed in acquisitions and sold in dispositions, and Note 5 for a discussion of asset impairments associated with restructuring activities.

The fair value of assets determined based on third-party appraisals and classified as Level 3 measurements due to the use of significant unobservable inputs was not material at December 31, 2025 or 2024.

The Company has an investment in the preferred stock of a nonaffiliated private company.

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Awards issued from 2019 through 2023 were issued pursuant to the Sonoco Products Company 2019 Omnibus Incentive Plan (the “2019 Plan”).

A total of 2,900,000 shares of common stock are reserved for awards granted under the 2024 Plan.

As of the April 17, 2024 effective date, the 2024 Plan superseded the 2019 Plan and became the only plan under which equity-based compensation may be awarded to employees and non-employee directors.

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The expense for these RSUs is recognized following the graded-vesting method, which results in front-loaded expense being recognized during the early years of the required service period.

For grants awarded prior to 2021, participants must be actively employed by the Company on the vesting date for shares to be issued, except in the event of the participant’s death, disability, or involuntary (or good reason) termination within two years of a change in control prior to full vesting, in which case shares will immediately vest.

For awards granted prior to 2021, participants must be actively employed by the Company on the vesting date for shares to be issued, except in the event of the participant’s death, disability, or involuntary (or good reason) termination within two years of a change in control prior to full vesting, in which case shares will immediately vest.

For awards granted since 2020, in the event of the participant’s death, disability or retirement prior to full vesting, shares will be issued on a pro rata basis up through the time the participant’s employment or service ceases.

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The activity related to RSUs for the year ended December 31, 2025 is as follows:

Nonvested Vested Total

Average Grant

Value Per Share

Nonvested Vested Total Average Grant Date Fair Value Per Share

Outstanding, December 31, 2024 681,616 75,580 757,196 $ 53.43

593,445 68,815 662,260 $ 54.71

Granted 451,499 — 451,499 $ 42.75

4 unchanged sentences

Outstanding, December 31, 2025 688,370 123,859 812,229 $ 47.43

681,616 75,580 757,196 $ 53.43

Performance Contingent Restricted Stock Units

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The ultimate number of PCSUs awarded is dependent upon the degree to which performance, relative to defined targets related to earnings and return on invested capital is achieved over a three-year performance cycle and for the 2025 and 2024 PCSU grants only, a modifier for total stock return performance.

The Company estimates the fair value of its 2024 and 2023 PCSUs based upon the Company’s stock price on the dates of grant and an estimate of the Company’s payout modifier based upon the projected total stock return performance relative to its peer group companies.

The comparative market indices for the awards that vest based on total stock return to shareholders are the S&P Composite 1500 Materials Index.

The Company estimates the fair value of its PCSUs based upon the Company’s stock price on the dates of grant and an estimate of the Company’s payout modifier based upon the projected total stock return performance relative to its peer group companies.

The comparative market index for the awards that vest based on total stock return to shareholders is the S&P Composite 1500 Materials Index.

If the Company’s actual total stock return for the three-year measurement period is determined to be between the 25th and 75th percentile relative to its peers, no additional modifier is triggered for the particular PCSU grant upon vesting.

11 unchanged sentences

Outstanding, December 31, 2024 283,675 350,081 633,756 $ 52.13

418,403 236,492 654,895 $ 53.51

Granted 272,478 — 272,478 $ 40.95

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Outstanding, December 31, 2025 176,395 117,879 294,274 $ 51.25

283,675 350,081 633,756 $ 52.13

As of December 31, 2025, the 2025 PCSUs to be awarded are estimated to range from 0 to 580,331 units, including the 20 % total stock return modifier, and are tied to the three-year performance period ending December 31, 2027.

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Outstanding stock units of 75,263 units were determined to have been earned.

The fair value of these units was $ 16,164 as of December 31, 2024.

The fair value of these earned units was $ 3,285 a s of December 31, 202 5.

No ad ditional units were earned for the total stock return modifier since the Company’s stock return was between the 25th and 75th percentiles relative to its peers for the measurement period ended December 31, 2025.

The performance cycle for the 2022 PCSUs was completed on December 31, 2024.

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All outstanding SARs are vested as of December 31, 2025.

The weighted average remaining contractual life for both outstanding and exercisable SARs at December 31, 2024 was 4.2 years.

Noncash stock-based compensation expense associated with SARs totaled $ 0 for 2024 and 2023 and $ 40 for 2022.

As of December 31, 2024, there is no unrecognized compensation cost remaining.

The activity related to the Company’s SARs for the year ended December 31, 2024 is as follows:

Nonvested Vested Total Weighted-

The weighted average remaining contractual life for outstanding and exercisable SARs at December 31, 2025 was 3.3 years.

The activity related to SARs for the year ended December 31, 2025 is as follows:

Nonvested Vested Total Weighted-average Exercise Price

Outstanding, December 31, 2024 — 663,404 663,404 $ 55.62

— 729,515 729,515 $ 55.13

Vested — — — $ —

3 unchanged sentences

Outstanding, December 31, 2025 — 516,153 516,153 $ 55.79

— 663,404 663,404 $ 55.62

Exercisable, December 31, 2025 — 516,153 516,153 $ 55.79

— 663,404 663,404 $ 55.62

The aggregate intrinsic value of SARS exercised during 2024, 2023, and 2022 was $ 74 , $ 158 , and $ 582 , respectively.

The aggregate intrinsic value for both outstanding and exercisable SARs was $ 376 at December 31, 2024 using the fair market value of the Company’s stock on that date of $ 48.85 per share.

Noncash stock-based compensation expense associated with SARs totaled $ 0 for 2025, 2024 and 2023.

As of December 31, 2025, there is no unrecognized compensation cost remaining.

The aggregate intrinsic value of SARs exercised during 2025, 2024, and 2023 was $ 0 , $ 74 , and $ 158 using the fair market value of the Company’s stock at December 31, 2025, 2024, and 2023, respectively.

The aggregate intrinsic value for outstanding and exercisable SARs was $ 79 at December 31, 2025 using the fair market value of the Company’s stock on that date of $ 43.64 per share.

F-33 FORM 10-K SONOCO 2025 ANNUAL REPORT

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Retirement plans and retiree health and life insurance plans

The Company provides non-contributory defined benefit pension plans for certain of its employees in the United States, Mexico, Belgium, Germany, France, and Turkey.

The Company provides non-contributory defined benefit pension plans for certain of its employees in the United States, Mexico, Belgium, Germany, France, Italy, Switzerland, Spain, Ireland and Turkey.

The Company also sponsors contributory defined benefit pension plans covering certain of its employees in the United Kingdom, Canada and the Netherlands, and provides postretirement healthcare and life insurance benefits to a limited number of its retirees and their dependents in the United States and Canada, based on certain age and/or service eligibility requirements.

For further information regarding the Eviosys pension plan that was acquired in 2024, see the Eviosys acquisition section below.

The components of net periodic benefit cost/(income) include the following:

7 unchanged sentences

Effect of settlement loss 42 530 1,010

Effect of curtailment loss — — 43

Effect of curtailment gain ( 263 ) — —

Net periodic benefit cost $ 17,991 $ 17,286 $ 17,764

3 unchanged sentences

Expected return on plan assets ( 413 ) ( 392 ) ( 313 )

Amortization of prior service credit 385 — —

Amortization of prior service cost 375 385 —

Amortization of net actuarial gain ( 1,160 ) ( 899 ) ( 768 )

Net periodic benefit cost/(income) $ 191 $ ( 344 ) $ ( 542 )

Net periodic benefit (income)/cost $ ( 145 ) $ 191 $ ( 344 )

The following tables set forth the Plans’ obligations and assets at December 31:

13 unchanged sentences

Effect of curtailments ( 408 ) — — —

Other 1,639 — — —

Acquisitions 42 74,078 — —

1 unchanged sentence

F-34 FORM 10-K SONOCO 2025 ANNUAL REPORT

F-35 FORM 10-K SONOCO 2024 ANNUAL REPORT

Retirement Plans Retiree Health and

10 unchanged sentences

Expenses paid ( 1,945 ) ( 1,976 ) ( 29 ) ( 48 )

Other 999 — — —

Acquisitions — 21,223 — —

9 unchanged sentences

Net liability $ ( 155,883 ) $ ( 161,450 ) $ ( 6,998 ) $ ( 6,657 )

$ ( 161,450 ) $ ( 117,753 ) $ ( 6,657 ) $ ( 9,358 )

Items not yet recognized as a pre-tax component of net periodic benefit cost that are included in Accumulated Other Comprehensive Loss as of December 31, 2025 and 2024, are as follows:

12 unchanged sentences

Prior service cost 736 327 430 ( 321 ) — 11,637

Net settlements/curtailments ( 530 ) ( 1,010 ) ( 522 ) — — —

Net settlement/curtailment gain/(loss)

221 ( 530 ) ( 1,010 ) — — —

Amortization recognized during the period:

1 unchanged sentence

Prior service cost ( 923 ) ( 864 ) ( 926 ) ( 375 ) ( 385 ) —

( 864 ) ( 926 ) ( 913 ) ( 385 ) — —

Total recognized in other comprehensive (income)/loss $ ( 8,835 ) $ ( 5,777 ) $ 4,903 $ 1,263 $ ( 1,971 ) $ 11,954

5 unchanged sentences

The Company determined the acquisition-date fair values of the PBO and plan assets of the Eviosys Plans to be $ 74,120 and $ 21,223 , respectively, resulting in a long-term and short-term unfunded pension obligations of $ 51,918 and $ 979 , respectively.

The net periodic benefit costs for the Eviosys Plans were not material to Sonoco for the year ended December 31, 2024.

F-35 FORM 10-K SONOCO 2025 ANNUAL REPORT

1 unchanged sentence

On September 8, 2023, the Company completed the acquisition of the remaining 65 % ownership interest of the RTS Packaging joint venture, which included the assumption of the RTS Packaging Pension Plan (the “RTS Plan”).

At the time of the acquisition, the RTS Plan had a PBO of $ 43,934 and plan assets of $ 32,322 , resulting in long-term and short term unfunded pension obligations of $ 11,529 and $ 83 , respectively.

Since the formation of the original joint venture, the Company had recognized its 35 % share of actuarial gains and losses related to the RTS Plan in “Accumulated other comprehensive loss.” Upon the acquisition of the remaining 65 % interest in RTS Packaging, a pre-tax loss of $ 4,756 ($ 3,543 after tax) was reclassified out of “Accumulated other comprehensive loss” into earnings.

The pre-tax loss is reflected in “Other (expenses)/ income, net” in the Company’s Consolidated Statements of Income for the year ended December 31, 2023.

Plan termination, settlements, changes and amendments

Plan settlements, changes and amendments

On January 2, 2025, the RTS Plan was merged with the U.S.

Accordingly, disclosures referring to the “U.S.

Retirement Plans” or the “U.S.

Active Plan” include the legacy RTS Plan.

The Company recognized net settlement losses totaling $ 42 , $ 530 , and $ 1,010 in 2025, 2024, and 2023, respectively, resulting primarily from payments made to certain participants in the Company’s non-union Canadian pension plan who elected a lump sum distribution option upon retirement.

The net settlement losses in 2025 also reflect settlement gains related to lump sum distributions to participants for certain Eviosys plans as a result of plant closures.

Settlements in 2023 also included payments associated with the termination of a pension plan in Taiwan.

The curtailment gains recognized in 2025 relate primarily to the termination of certain Eviosys Plan participants as a result of plant closures.

The Company amended its U.S.

2 unchanged sentences

The service cost is being amortized over the average life expectancy of the plan participants beginning in 2024.

The Company recognized settlement charges totaling $ 530 and $ 1,010 in 2024 and 2023, respectively.

Settlements in both years resulted from payments made to certain participants in the Company’s non-union Canadian pension plan who elected a lump sum distribution option upon retirement.

Settlements in 2023 also included payments associated with the termination of a pension plan in Taiwan.

Projected benefit payments

The following table sets forth the Company’s projected benefit payments for the next ten years:

Year Retirement Plans Retiree Health and

Life Insurance Plans

Year Retirement Plans Retiree Health and Life Insurance Plans

2026 $ 33,035 $ 1,341

7 unchanged sentences

used to determine benefit

obligations at December 31

Life Insurance

Foreign Plans

obligations at December 31 U.S.

Retirement Plans U.S.

Retiree Health and Life Insurance Plans Foreign Plans

Discount Rate

6 unchanged sentences

used to determine net periodic benefit

cost for years ended December 31

Life Insurance

cost for years ended December 31 U.S.

Retirement Plans U.S.

Retiree Health and Life Insurance Plans Foreign Plans

Discount Rate

12 unchanged sentences

The expected long-term rate of return assumption is based on the Company’s current and expected future portfolio mix by asset class, and expected nominal returns of these asset classes using an economic “building block” approach.

Expectations for inflation and real interest rates are developed and various risk premiums are assigned to each asset class based primarily on

F-36 FORM 10-K SONOCO 2025 ANNUAL REPORT

historical performance.

Expectations for inflation and real interest rates are developed and various risk premiums are assigned to each asset class based primarily on historical performance.

The assumed rate of compensation increase reflects historical experience and management’s expectations regarding future salary and incentive increases.

9 unchanged sentences

Year at which the Rate Reaches

the Ultimate Trend Rate

Pre-age 65 Post-age 65

the Ultimate Trend Rate Pre-age 65 Post-age 65

2025 2036 2036

3 unchanged sentences

Retirement plan assets

The assets of the U.S., RTS Plan, U.K., and Canadian defined benefit plans comprise approximately 82 % of the total postretirement benefit plan assets.

The assets of the U.S., Eviosys, U.K., and Canadian defined benefit plans comprise approximately 92 % of the total postretirement benefit plan assets.

Therefore, the following disclosures relate only to the assets of these plans.

18 unchanged sentences

Equity Securities - 35 % and Debt Securities – 65 %.

RTS defined benefit plan

The Company has adopted similar investment guidelines for the RTS Plan as it has for its U.S.

Active Plan assets.

The current target allocation (midpoint) for the RTS Plan investment portfolio is:

Equity Securities – 20 % and Debt Securities – 80 %.

United Kingdom defined benefit plan

6 unchanged sentences

The current target allocation (midpoint) for the investment portfolio is 30 % Equity Securities and 70 % Debt Securities.

Eviosys defined benefit plans

The equity investments consist of direct ownership and funds and are diversified among international stocks of primarily large capitalizations and short to intermediate duration corporate and government bonds.

The current target allocation (midpoint) for the investment portfolio is — % Equity Securities, 30 % Cash and Short Term Investments and 70 % Debt Securities.

F-37 FORM 10-K SONOCO 2025 ANNUAL REPORT

9 unchanged sentences

Sonoco Retirement and Savings Plan

The Sonoco Retirement and Savings Plan is a defined contribution retirement plan provided for certain of the Company’s U.S.

Through December 31, 2021, the plan was comprised of both an elective and non-elective component.

The elective component of the plan, which is designed to meet the requirements of section 401(k) of the Internal Revenue Code, allows participants to set aside a portion of their wages and salaries for retirement and encourages saving by matching a portion of their contributions with contributions from the Company.

The plan provides for participant contributions of 1 % to 100 % of gross pay.

Effective December 31, 2021, the Company’s 401(k) matching contribution was increased to 100 % of the first 6 % of pretax and/or Roth compensation contributed by the participant.

Prior to this, the Company had matched 50 % on the first 4 % of such participant contributions.

The Sonoco Retirement and Savings Plan (“Savings Plan”) is a defined contribution retirement plan provided for certain of the Company’s U.S.

employees designed to meet the requirements of section 401(k) of the Internal Revenue Code.

The Savings Plan allows participants to set aside a portion of their wages and salaries for retirement and encourages saving by matching a portion of their contributions with contributions from the Company.

The Savings Plan provides for participant contributions of 1 % to 100 % of gross pay with the Company matching 100 % of the first 6 % of pretax and/or Roth compensation contributed by the participant.

Participants are immediately fully vested in these matching contributions.

The Company’s expenses related to the plan for 2024, 2023, and 2022 were approximately $ 33,700 , $ 30,684 and $ 29,347 , respectively.

The non-elective component of the plan, the Sonoco Retirement Contribution (“SRC”), was eliminated effective December 31, 2021 and the benefit replaced by the higher 401(k) matching contribution discussed above.

The final cash contribution to the SRC, totaling $ 21,948 , was made in March 2022 for the preceding year.

The Company’s expenses related to the Savings Plan for 2025, 2024, and 2023 were approximately $ 33,300 , $ 33,700 and $ 30,684 , respectively.

The Company also provides retirement and postretirement benefits to certain other non-U.S.

23 unchanged sentences

Outside basis in Metal Packaging ( 63,105 ) ( 68,649 )

Other ( 192 ) —

Gross deferred tax liabilities $ ( 897,452 ) $ ( 956,482 )

5 unchanged sentences

Capitalized research and development costs 67,894 103,043

Net investment hedge 50,524 —

Employee benefits 54,258 56,192

5 unchanged sentences

$ ( 502,585 ) $ ( 581,765 )

1 Total deferred taxes, net includes $( 15,666 ) and $( 6,228 ) reclassified to discontinued operations on the Consolidated Balance Sheets at December 31, 2024 and 2023, respectively.

These amounts include valuation allowance on deferred tax assets of $( 4,628 ) and $( 4,395 ) at December 31, 2024 and 2023, respectively.

1 Total deferred taxes, net includes $( 15,666 ) reclassified to discontinued operations on the Consolidated Balance Sheets at December 31, 2024.

This includes a valuation allowance on deferred tax assets of $( 4,628 ).

The Company has total federal net operating loss (“NOL”) carryforwards of approximately $ 31,556 remaining at December 31, 2025.

These losses are limited based upon future taxable earnings of the Company and expire between 2033 and 2039.

foreign tax credit carryforwards of approximately $ 20,722 exist at December 31, 2024 and expire in 2027.

These losses were acquired as part of an acquisition and annual usage is limited based on certain attributes existing at that time.

The losses expire between 2029 and 2041.

foreign tax credit carryforwards of approximately $ 25,601 exist at December 31, 2025, $ 22,474 of which expire in 2027, and $ 3,127 of which expire in 2035.

Foreign subsidiary loss carryforwards of approximately $ 532,745 remain at December 31, 2025.

7 unchanged sentences

State loss and credit carryforwards are reflected at their “tax” value, as opposed to the amount of expected gross deduction due to the vastly different apportionment and statutory tax rates applicable to the various entities and states in which the Company files.

F-39 FORM 10-K SONOCO 2025 ANNUAL REPORT

Statutory tax rate reconciliation

A reconciliation of the U.S.

federal statutory tax rate to the actual provision for/(benefit from) income taxes is as follows:

2024 2023 2022

Statutory tax rate $ 13,332 21.0 % $ 102,696 21.0 % $ 96,563 21.0 %

federal statutory tax rate to the actual provision for income taxes in the expanded format set forth by ASU 2023-09 for the year ended December 31, 2025 is as follows:

Federal statutory tax rate $ 160,671 21.0 %

State and local income taxes, net of Federal income tax effect (a)

Foreign tax effects

Valuation allowances 10,826 1.4 %

Other ( 5,572 ) ( 0.7 ) %

Nontaxable income ( 8,115 ) ( 1.1 ) %

Other ( 479 ) ( 0.1 ) %

Other foreign jurisdictions 18,402 2.4 %

Federal tax effects

Effect of changes in tax laws or rates enacted in the current period — — %

Effect of cross-border tax laws

Global intangible low-taxed income (GILTI), net of foreign tax credit (FTC) 9,525 1.2 %

Tax on undistributed earnings of subsidiaries 11,756 1.5 %

Foreign branch inclusion 10,479 1.4 %

Other 4,380 0.6 %

Tax credits ( 9,627 ) ( 1.3 ) %

Changes in valuation allowances 34 — %

Nontaxable or nondeductible items

Benefit for purchased credits ( 14,875 ) ( 1.9 ) %

Other 5,927 0.8 %

Changes in unrecognized tax benefits 2,622 0.3 %

Other adjustments

Disposition of business ( 29,994 ) ( 3.9 ) %

Other 1,497 0.2 %

Provision For Income Taxes $ 183,586 24.0 %

(a) State taxes in Tennessee, Illinois, California, Wisconsin and New Jersey make up the majority (greater than 50 percent) of the tax effect in this category.

F-40 FORM 10-K SONOCO 2025 ANNUAL REPORT

A reconciliation of the U.S.

federal statutory tax rate to the actual provision for income taxes for the years ended December 31, 2024 and 2023 is as follows:

Federal statutory tax rate $ 13,332 21.0 % $ 102,696 21.0 %

State income taxes, net of federal tax benefit ( 883 ) ( 1.4 ) % 12,263 2.5 %

11 unchanged sentences

Foreign currency gain/(loss) on distributions of previously taxed income 642 1.0 % ( 2,614 ) ( 0.5 ) %

642 1.0 % ( 2,614 ) ( 0.5 ) % ( 1,280 ) ( 0.3 ) %

IRC Subpart F Income 916 1.4 % 119 — %

916 1.4 % 119 — % 96 — %

Executive compensation limitation 2,569 4.0 % 3,767 0.8 %

2,569 4.0 % 3,767 0.8 % 1,420 0.3 %

Capitalized acquisition costs 7,202 11.3 % 104 — %

1 unchanged sentence

Provision for income taxes $ 5,509 8.7 % $ 119,730 24.5 %

F-40 FORM 10-K SONOCO 2024 ANNUAL REPORT

The change in “Tax examinations including change in reserve for uncertain tax positions” is shown net of associated deferred taxes and accrued interest.

Included in the change are net increases in reserves for uncertain tax positions of approximately $ 3,405 , $ 2,710 and $ 1,780 for uncertain items arising in 2024, 2023 and 2022, respectively, combined with adjustments related to prior year items, primarily decreases related to lapses of statutes of limitations in international, federal and state jurisdictions as well as overall changes in facts and judgment.

The “Change in unrecognized tax benefits” for 2025 and the change in “Tax examinations including change in reserve for uncertain tax positions” for 2024 and 2023 is shown net of associated deferred taxes and includes accrued interest.

Included in the change are current year increases of approximately $ 1,732 , $ 3,405 and $ 2,710 for 2025, 2024 and 2023, respectively.

The change also includes adjustments for prior year items such as decreases related to lapses of statutes of limitations in international, federal and state jurisdictions as well as overall changes in facts and judgment.

These adjustments changed the reserve by a total of approximately $( 899 ), $( 13,229 ) and $( 891 ) in 2025, 2024 and 2023, respectively.

In many of the countries in which the Company operates, earnings are taxed at rates different than in the United States.

This difference is reflected in “Foreign earnings taxed at other than U.S.

rates” along with other items, if any, that impacted taxes on foreign earnings in the periods presented.

The benefits included in “Adjustments to prior year deferred taxes” for each of the years presented consist primarily of adjustments to deferred tax assets and liabilities arising from changes in estimates.

In many of the countries in which the Company operates, earnings are taxed at rates different than the U.S.

federal tax rate.

This difference is reflected in “Foreign tax effects” for 2025 and “Foreign earnings taxed at other than U.S.

rates” for 2024 and 2023, along with other items, if any, that impacted taxes on foreign earnings in the periods presented.

The benefits included in “Adjustments to prior year deferred taxes” for 2024 and 2023 consist primarily of adjustments to deferred tax assets and liabilities arising from changes in estimates.

The adjustment to deferred tax assets and liabilities in 2024 was driven largely by post-acquisition entity restructuring.

Of the $ 9,627 of tax credits for 2025, $ 3,008 relates to research and development tax credits.

The GILTI tax in 2024 of $( 5,604 ) consists primarily of a prior year provision to return adjustment.

The expense included in “Valuation allowance” for 2024 includes $ 5,969 net recognized expense associated with the recording of valuation allowances on foreign NOLs which are not expected to be utilized.

The benefits included in “Valuation allowance” for 2022 include a $ 13,182 net recognized benefit associated with the release of valuation allowance on foreign tax credits due to an increase in projected future foreign source income.

The Company maintains its assertion that its undistributed foreign earnings prior to the Eviosys acquisition are indefinitely reinvested and, accordingly, has not recorded any deferred income tax liabilities that would be due if those earnings were repatriated.

However, the Company does not assert that certain current and future earnings of its Eviosys business are permanently reinvested.

As of December 31, 2024, the undistributed foreign earnings total $ 1,071,766 .

While the majority of these earnings have already been taxed in the United States, a portion would be subject to foreign withholding and U.S.

The GILTI tax, net of FTC in 2025 of $ 9,525 consists primarily of a prior year provision to return adjustment.

The benefit of $ 29,994 shown in “Disposition of business” is attributable to the sale of the U.S.

ThermoSafe business and is due to a tax basis in the shares sold that is greater than the basis for accounting purposes.

The Company maintains its assertion that its undistributed foreign earnings prior to the Sonoco Metal Packaging EMEA acquisition, as well as current and future undistributed foreign earnings of its non-Sonoco Metal Packaging EMEA business, are indefinitely reinvested and, accordingly, has not recorded any deferred income tax liabilities that would be due if those earnings were repatriated.

However, the Company does not assert that certain current and future earnings of its Sonoco Metal Packaging EMEA business are permanently reinvested.

While the majority of the Company’s undistributed foreign earnings have already been taxed in the United States, a portion would be subject to foreign withholding and U.S.

income taxes and credits if distributed.

Computation of the deferred tax liability associated with unremitted earnings deemed to be indefinitely reinvested is not practicable at this time.

Income taxes paid

The following table sets forth income taxes paid, including payments for the acquisition of income tax credits, net of refunds, for the year ended December 31, 2025, disaggregated between foreign, domestic and state:

Federal taxes paid $ 125,868

State taxes paid 30,926

Foreign taxes paid 108,107

Total $ 264,901

F-41 FORM 10-K SONOCO 2025 ANNUAL REPORT

Income taxes paid, net of refunds, exceeded 5 percent of total income taxes paid, net of refunds, in the following jurisdictions:

Foreign Taxes Paid

Spain $ 20,109

Brazil $ 17,688

Other $ 70,310

Reserve for uncertain tax positions

4 unchanged sentences

Decreases in prior years’ unrecognized tax benefits ( 1,404 ) ( 1,915 ) ( 572 )

Increases in current year’s unrecognized tax benefits 4,325 4,395 1,807

Increases in current year unrecognized tax benefits 688 4,325 4,395

Decreases in unrecognized tax benefits from the lapse of statutes of limitations ( 235 ) ( 12,100 ) ( 1,094 )

8 unchanged sentences

With few exceptions, the Company is no longer subject to income tax examinations by tax authorities for years before 2019.

The Company believes that it is reasonably possible that the amount reserved for uncertain tax positions at December 31, 2024 will increase by $ 493 over the next twelve months.

This change includes the anticipated increase in reserves related to existing positions offset by settlements of issues currently under examination and the release of existing reserves due to the expiration of the statute of limitations.

Although the Company’s estimate for the potential outcome for any uncertain tax issue is highly judgmental, management believes that any reasonably foreseeable outcomes related to these matters have been adequately provided for.

12 unchanged sentences

United States $ 1,864,861 $ 1,464,574 $ 285,486 $ 3,614,921

Europe 524,699 371,896 58,925 955,520

EMEA 2,789,400 361,878 56,160 3,207,438

Canada 18,539 85,875 — 104,414

Asia Pacific 96,154 213,127 1,771 311,052

APAC 100,482 148,012 1,065 249,559

Other 101,009 238,894 2,518 342,421

3 unchanged sentences

United States $ 1,785,857 $ 1,431,232 $ 352,717 $ 3,569,806

Europe 431,189 389,261 64,936 885,386

EMEA 524,699 371,896 58,925 955,520

Canada 17,486 95,863 — 113,349

Asia Pacific 94,136 233,446 1,812 329,394

APAC 96,154 213,127 1,771 311,052

Other 107,656 237,370 10,612 355,638

3 unchanged sentences

United States $ 1,817,268 $ 1,389,492 $ 494,112 $ 3,700,872

Europe 421,276 434,076 68,949 924,301

EMEA 431,189 389,261 64,936 885,386

Canada 16,076 100,095 — 116,171

Asia Pacific 91,151 275,395 1,158 367,704

APAC 94,136 233,446 1,812 329,394

Other 112,379 261,819 35,405 409,603

6 unchanged sentences

The following table sets forth information about contract assets and liabilities from contracts with customers.

The balances of the contract assets and liabilities are located in “Other receivables” and “Accrued expenses and other”, respectively, in the Consolidated Balance Sheets.

The balances of the contract assets and liabilities are located in “Other receivables” and “Accrued expenses and other payables”, respectively, in the Consolidated Balance Sheets.

December 31, 2025 December 31, 2024

4 unchanged sentences

December 31, 2025 December 31, 2024

Contract Asset Contract Liability Contract Asset Contract Liability

Contract Assets

Contract Liabilities

Contract Assets

Contract Liabilities

Beginning balance $ 67,062 $ ( 60,024 ) $ 14,754 $ ( 15,252 )

Acquired as part of a business combination 62,439 ( 47,478 ) — ( 1,436 )

Acquired/ sold as part of a business combination/ divestiture ( 53 ) ( 324 ) 62,439 ( 47,478 )

Revenue deferred or rebates accrued — ( 94,947 ) — ( 25,736 )

11 unchanged sentences

In connection with its acquisition of Tegrant in November 2011, the Company identified potential environmental contamination at a site in Spartanburg, South Carolina.

Since the acquisition, the Company has spent a total of $ 2,304 on remediation of the Spartanburg site.

At December 31, 2024 and 2023, the Company’s accrual for environmental contingencies related to the Spartanburg site totaled $ 5,096 and $ 5,259 , respectively.

The Spartanburg site and related environmental liabilities are part of the pending sale of TFP to Toppan.

Accordingly, these accruals are reflected in “Current liabilities of discontinued operations” on the Company’s Consolidated Balance Sheets.

The Company cannot currently estimate its potential liability, damages or range of potential loss, if any, beyond the amounts accrued with respect to this exposure.

However, the Company does not believe that the resolution of this matter has a reasonable possibility of having a material adverse effect on the Company’s financial statements.

At December 31, 2024, the Company’s accrual for environmental contingencies related to the Spartanburg site totaled $ 5,096 and was reflected in “Current liabilities of discontinued operations” on the Company’s Consolidated Balance Sheet at December 31, 2024 .

The Spartanburg site and related environmental liabilities were part of the sale of TFP to Toppan, which was completed on April 1, 2025.

Other environmental matters

3 unchanged sentences

However, the Company does not believe that the resolution of these matters has a reasonable possibility of having a material adverse effect on the Company’s financial statements.

At December 31, 2024 and 2023, the Company’s accrual for these other sites totaled $ 1,933 and $ 1,992 , respectively, and are included in “Accrued expenses and other” on the Company’s Consolidated Balance Sheets.

At December 31, 2025 and 2024, the Company’s accrual for these other sites totaled $ 1,779 and $ 1,933 , respectively, and are included in “Accrued expenses and other payables” on the Company’s Consolidated Balance Sheets.

As of December 31, 2025, the Company had long-term obligations to purchase electricity and steam, which it uses in its production processes, as well as long-term purchase commitments for raw materials.

4 unchanged sentences

$ 0 in 2029, and a total of $ 0 from 2030 through 2034.

Shareholders’ equity and earnings per share

Share repurchases

On April 20, 2021, the Board authorized the repurchase of the Company’s common stock in an aggregate amount of up to $ 350,000 .

No shares were purchased under this authorization during 2024 or 2023.

A total of $ 137,972 remained available for share repurchases under this authorization as of December 31, 2024 and December 31, 2023.

The Company occasionally repurchases shares of its common stock to satisfy employee tax withholding obligations in association with the exercise of RSUs, PCSUs, and SARs.

These repurchases, which are not part of a publicly announced plan or program, totaled 164,402 shares during 2024, 175,665 shares during 2023, and 79,347 shares during 2022, at a cost of $ 9,246 , $ 10,617 and $ 4,547 , respectively.

In addition,as of December 31, 2025, the Company has purchase commitments of approximately $ 93,900 to be paid in 2026 for the acquisition of tax credits that are expected to offset a portion of taxes payable currently recorded within “Accrued taxes” on the Company’s Consolidated Balance Sheets at December 31, 2025.

F-44 FORM 10-K SONOCO 2025 ANNUAL REPORT

Shareholders’ equity and earnings per share

Earnings per share

2 unchanged sentences

Net income from continuing operations $ 591,038 $ 67,565 $ 379,644

Net loss/(income) from continuing operations attributable to noncontrolling interests

180 ( 768 ) ( 284 )

Net (income)/loss from continuing operations attributable to noncontrolling interests ( 375 ) 180 ( 768 )

Net income from continuing operations attributable to Sonoco 590,663 67,745 378,876

1 unchanged sentence

Weighted average common shares outstanding:

Dilutive effect of share-based compensation 653 596 741

Diluted outstanding shares 99,290 98,890 98,732

Basic 99,124 98,637 98,294

Dilutive effect of shared-based compensation 447 653 596

Diluted 99,571 99,290 98,890

Per common share:

14 unchanged sentences

These SARs may become dilutive in future periods if the market price of the Company’s common stock appreciates.

Share repurchases

On April 20, 2021, the Board authorized the repurchase of the Company’s common stock i n an aggregate amount of up to $ 350,000 .

No shares were purchased under this authorization during 2025 or 2024.

A total of $ 137,972 remained available for share repurchases under this authorization as of December 31, 2025 and December 31, 2024.

The Company occasionally repurchases shares of its common stock to satisfy employee tax withholding obligations in association with the exercise of RSUs, PCSUs, and SARs.

These repurchases, which are not part of a publicly announced plan or program, totaled 227,560 shares during 2025, 164,402 shares during 2024, and 175,665 shares during 2023, at a cost of $ 10,930 , $ 9,246 and $ 10,617 , respectively.

Noncontrolling interests

On April 1, 2025, the Company completed the sale of TFP which included the disposition of a noncontrolling interest position of $ 600 , which is reflected in the Company’s total gain on the divestiture in “Net income from discontinued operations” i n the Company’s Consolidated Statements of Income for the year ended December 31, 2025.

See Note 4 for additional information.

On March 2, 2025, the Company completed the sale of its tube and core operations in Venezuela which included the disposition of a noncontrolling interest position of $ 310 which is reflected in the Company’s total loss on the divestiture.

This loss is reported in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income for the year ended December 31, 2025.

See Note 4 for additional information.

On December 4, 2024, the Company completed the acquisition of Eviosys.

The acquisition included operations in the Ivory Coast and Morocco, which are owned 85.2 % and 99.34 %, respectively, by the Company.

The Company fully consolidates these operations and reflects our partners’ ownership in noncontrolling interests on the Company’s Consolidated Balance Sheet as of December 31, 2024.

The total amount of noncontrolling interests acquired was $ 9,533 .

In November 2024, the Company completed the sale of two production facilities in China, both of which were part of the Company’s Industrial Paper Packaging segment.

The Company fully consolidates these operations and reflects the partner’s ownership in noncontrolling interests in its Consolidated Balance Sheets.

During the twelve-month period ended December 31, 2025, the Company recorded measurement-period adjustments based on updated valuation information related to facts and circumstances existing as of the acquisition date that increased the previously reported fair value of noncontrolling interests by $ 2,346 .

F-45 FORM 10-K SONOCO 2025 ANNUAL REPORT

In November 2024, the Company completed the sale of two production facilities in China.

In addition, a production facility that was less than 100% owned by the Company was divested as a part of the sale and the disposition of the noncontrolling interest of $ 2,043 is reflected in the Company’s total loss on the divestiture.

This loss is reported in “(Loss)/Gain on divestiture of business and other assets” in the Company’s Consolidated Statements of Income for the year ended December 31, 2024.

This loss is reported in “ Gain/(Loss) on divestiture of business and other assets ” in the Company’s Consolidated Statements of Income for the year ended December 31, 2024.

See Note 4 for additional information.

On March 31, 2022, the Company paid $ 14,474 in cash to acquire the remaining 33 % ownership interest in Graffo Paranaense de Embalagens S/A (“Graffo”).

The transaction resulted in a $ 6,116 reduction in noncontrolling interest, a $ 7,080 charge to capital in excess of stated value, and a $ 1,278 reduction to accrued expenses and other on the Company’s Consolidated Balance Sheet.

Graffo is part of the Company’s Thermoformed and Flexibles Packaging business and is included in the pending sale of TFP to Toppan.

See Notes 1 and 2 for additional information.

F-44 FORM 10-K SONOCO 2024 ANNUAL REPORT

Segment reporting

6 unchanged sentences

Effective January 1, 2024, the Company began conducting its recycling operations, part of the Industrial Paper Packaging segment, as a procurement function.

As a result, no recycling net sales were recorded and the margin from the Company’s recycling operations reduced “Cost of sales” for the year ended December 31, 2024.

As a result, no recycling net sales were recorded and the margin from the Company’s recycling operations reduced “Cost of sales” for the years ended December 31, 2025 and 2024 as these activities are no longer a part of ongoing major operations.

The primary products produced within the All Other group of businesses consist of a variety of packaging materials, including plastic, paper, foam, and various other specialty materials.

Following the sale of ThermoSafe in November 2025, the Company’s industrial and specialty plastics business is the only remaining business in the All Other category.

Effective January 1, 2026, this business will be reported within the Industrial Paper Packaging segment and the use of the All Other category will be discontinued.

The Company’s chief operating decision maker (“CODM”) is the chief executive officer.

29 unchanged sentences

Equity in earnings of affiliates, net of tax $ 226 $ 9,297

Depreciation, depletion and amortization (6)

Depreciation and amortization (6)

$ 209,618 $ 118,889

Intersegment sales are recorded at a market-related transfer price.

Sales from businesses below the quantitative threshold are attributable to the group of businesses within All Other.

The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

Cost of sales of reportable segments excludes certain costs, primarily changes in LIFO inventory reserves, net gains or losses from derivatives, and acquisition, integration and divestiture-related costs.

Other segment items consists of:

Consumer Packaging:

Labor and benefits, consulting and professional services, travel, communication, facilities and supplies.

Industrial Paper Packaging:

Labor and benefits, consulting and professional services, travel, communication, facilities and supplies.

Represents significant segment expenses that are regularly provided to the CODM and are included in cost of sales and other segment items within segment operating profit.

F-46 FORM 10-K SONOCO 2025 ANNUAL REPORT

15 unchanged sentences

Equity in earnings of affiliates, net of tax $ 365 $ 9,223

Depreciation, depletion and amortization (6)

Depreciation and amortization (6)

$ 109,355 $ 116,149

Intersegment sales are recorded at a market-related transfer price.

Sales from businesses below the quantitative threshold are attributable to the group of businesses within All Other.

The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

Other segment items consists of:

Consumer Packaging:

Labor and benefits, consulting and professional services, travel, communication, facilities and supplies.

Industrial Paper Packaging:

Labor and benefits, consulting and professional services, travel, communication, facilities and supplies.

Represents significant segment expenses that are regularly provided to the CODM and are included in cost of sales and other segment items within segment operating profit.

Year Ended December 31, 2023 Consumer Packaging Industrial Paper Packaging Total Reportable Segments

14 unchanged sentences

Equity in earnings of affiliates, net of tax $ 564 $ 9,783

Depreciation, depletion and amortization (6)

Depreciation and amortization (6)

$ 95,340 $ 104,723

16 unchanged sentences

Unallocated amounts:

Restructuring/Asset impairment charges ( 65,370 ) ( 47,909 ) ( 52,385 )

Restructuring/Asset impairment charges, net

( 66,215 ) ( 65,370 ) ( 47,909 )

Amortization of acquisition intangibles ( 182,431 ) ( 78,595 ) ( 67,323 )

(Loss)/Gain from divestiture of business and other assets ( 23,452 ) 78,929 —

Gain/(Loss) on divestiture of business 371,717 ( 23,452 ) 78,929

Acquisition, integration and divestiture-related costs ( 54,158 ) ( 91,600 ) ( 24,624 )

Changes in LIFO inventory reserves ( 58 ) 6,263 11,817

Derivative gains/(losses) 7,225 1,912 ( 8,767 )

Other corporate costs (2)

Derivative (losses)/gains ( 1,730 ) 7,225 1,912

Other corporate costs, net (2)

( 35,242 ) ( 46,675 ) ( 42,254 )

Other operating income/(charges), net (3)

Other operating (charges)/income, net (3)

( 4,335 ) ( 982 ) ( 10,326 )

Other (expenses)/income, net ( 104,200 ) 39,657 —

Other (expense)/income, net (4)

( 27,481 ) ( 104,200 ) 39,657

Non-operating pension costs ( 12,215 ) ( 13,842 ) ( 14,312 )

3 unchanged sentences

Operating profit from segments below the quantitative threshold are attributable to the group of businesses within All Other.

Other corporate costs represent recurring operating expenses previously allocated to TFP that will remain with Sonoco subsequent to the divestiture.

Primarily consists of insurance gains offset by consulting fees in 2024 and losses related to highly inflationary accounting in Turkey and consulting fees, partially offset by insurance gains, in 2023.

Other corporate costs represent recurring operating expenses previously allocated to TFP that will remain with Sonoco subsequent to the divestiture, net of income earned under a transition services agreement with Toppan.

Primarily consists of highly inflationary accounting in Turkey and other miscellaneous charges in 2025, 2024, and 2023.

In 2025, these expenses relate to charges from third-party financial institutions related to the Company’s centralized treasury program under which the Company sells certain trade accounts receivable in order to accelerate its cash collection cycle, primarily within the Consumer Packaging segment.

In 2024, the expense primarily relates to a net loss on foreign currency remeasurement, partially offset by a gain from the fair value remeasurement of an equity investment.

Reconciliation of other segment disclosures to consolidated totals:

6 unchanged sentences

Consolidated Total $ 9,523 $ 9,588 $ 10,347

Depreciation, depletion and amortization

Depreciation and amortization

Consumer Packaging $ 209,618 $ 109,355 $ 95,340

3 unchanged sentences

Consolidated Total $ 519,667 $ 316,061 $ 282,029

Other represents depreciation, depletion and amortization expense for the All Other group of businesses and total amortization of acquisition intangibles for Sonoco, excluding discontinued operations.

Other represents depreciation and amortization expense for the All Other group of businesses and total amortization of acquisition intangibles for Sonoco, excluding discontinued operations.

F-48 FORM 10-K SONOCO 2025 ANNUAL REPORT

4 unchanged sentences

United States $ 3,614,921 $ 3,569,806 $ 3,700,872

Europe 955,520 885,386 924,301

EMEA 3,207,438 955,520 885,386

Canada 104,414 113,349 116,171

Asia Pacific 311,052 329,394 367,704

Other 355,638 409,603 387,190

APAC 249,559 311,052 329,394

All other 342,421 355,638 409,603

Total $ 7,518,753 $ 5,305,365 $ 5,441,426

1 unchanged sentence

United States $ 2,462,090 $ 2,695,885 $ 2,779,178

Europe 4,690,098 617,949 572,824

EMEA 4,893,882 4,690,098 617,949

Canada 27,214 35,750 39,842

Asia Pacific 176,547 157,235 155,959

Other 300,623 149,530 75,583

APAC 180,882 176,547 157,235

All other 478,462 300,623 149,530

Total $ 8,042,530 $ 7,898,903 $ 3,743,734

8 unchanged sentences

$ ( 267,578 ) $ ( 99,627 ) $ 943 $ ( 366,262 )

Other comprehensive income/(loss) before reclassifications

68,705 ( 16,305 ) 6,622 59,022

Amounts reclassified from accumulated other comprehensive loss to net income 2,033 7,651 ( 5,177 ) 4,507

Amounts reclassified from accumulated other comprehensive loss to fixed assets — — 292 292

Other comprehensive income/(loss)

70,738 ( 8,654 ) 1,737 63,821

Balance at December 31, 2023

$ ( 267,578 ) $ ( 99,627 ) $ 943 $ ( 366,262 )

Other comprehensive (loss)/income before reclassifications ( 146,856 ) 4,636 ( 3,213 ) ( 145,433 )

( 146,856 ) 4,636 ( 3,213 ) ( 145,433 )

Amounts reclassified from accumulated other comprehensive loss to net income 3,503 4,378 1,080 8,961

Other comprehensive (loss)/income ( 143,353 ) 9,014 ( 2,133 ) ( 136,472 )

Balance at December 31, 2024

$ ( 410,931 ) $ ( 90,613 ) $ ( 1,190 ) $ ( 502,734 )

Other comprehensive income before reclassifications 484,608 1,159 3,486 489,253

Amounts reclassified from accumulated other comprehensive loss to net income 50,550 1,496 ( 1,361 ) 50,685

Other comprehensive income 535,158 2,655 2,125 539,938

Balance at December 31, 2025

$ 124,227 $ ( 87,958 ) $ 935 $ 37,204

F-48 FORM 10-K SONOCO 2024 ANNUAL REPORT

The following table summarizes the amounts reclassified from accumulated other comprehensive loss and the affected line items in the consolidated statements of net income for the years ended December 31, 2025 and 2024:

Amount Reclassified from Accumulated Other Comprehensive Loss

Details about Accumulated Other Comprehensive Loss Components Year Ended December 31, 2024 Year Ended December 31, 2023 Affected Line Item in the Consolidated Statements of Net Income

Foreign currency items

Loss on Protexic and China divestitures $ ( 3,503 ) $ — (Loss)/Gain on divestiture of business and other assets

Loss on RTS Packaging investment (see Note 4)

— ( 2,033 ) Other (expenses)/income, net

F-49 FORM 10-K SONOCO 2025 ANNUAL REPORT

Amount Reclassified from Accumulated Other Comprehensive Income/(Loss)

Details about Accumulated Other

Comprehensive

Income/(Loss) Components Year Ended December 31, 2025 Year Ended December 31, 2024 Affected Line Item in the Consolidated Statements of Net Income

Foreign currency items (see Note 4)

Currency translation adjustment (“CTA”) loss on TFP divestiture

$ ( 47,955 ) $ — Net income from discontinued operations

CTA loss on Venezuela divestiture ( 3,792 ) — Gain/(Loss) on divestiture of business and other assets

CTA gain on ThermoSafe divestiture 1,197 — Gain/(Loss) on divestiture of business and other assets

CTA loss on Protexic and China divestitures — ( 3,503 ) Gain/(Loss) on divestiture of business and other assets

( 50,550 ) ( 3,503 ) Net income

Defined benefit pension items (see Note 15)

Pension-related loss upon purchase of remaining interest in RTS Packaging joint venture — ( 4,756 ) Other (expenses)/income, net

Effect of settlement loss ( 42 ) ( 530 ) Non-operating pension costs

Effect of curtailment gain 263 — Non-operating pension costs

Amortization of defined benefit pension items ( 4,009 ) ( 4,822 ) Non-operating pension costs

( 3,788 ) ( 5,352 ) Income from continuing operations before income taxes

974 2,573 Provision for income taxes

Income tax impact 2,292 974 Provision for income taxes

( 1,496 ) ( 4,378 ) Net income

Gains and losses on cash flow hedges (see Note 12)

Gains/(losses) on cash flow hedges (see Note 12)

Foreign exchange contracts 3,811 ( 1,174 ) Net Sales

2 unchanged sentences

1,701 ( 1,455 ) Income from continuing operations before income taxes

375 ( 1,923 ) Provision for income taxes

Income tax impact ( 340 ) 375 Provision for income taxes

1,361 ( 1,080 ) Net income

Amounts reclassified to net income from accumulated other comprehensive loss $ ( 8,961 ) $ ( 4,507 ) Net income

Amounts reclassified to net income from accumulated other comprehensive income/(loss) $ ( 50,685 ) $ ( 8,961 ) Net income

The following table summarizes the tax expense/(benefit) for the components of other comprehensive income/(loss):

3 unchanged sentences

Foreign currency items:

Other comprehensive (loss)/income before reclassifications

$ ( 140,210 ) $ ( 6,646 ) $ ( 146,856 ) $ 67,411 $ 1,294 $ 68,705

Amounts reclassified from accumulated other comprehensive loss to net income 3,503 — 3,503 2,033 — 2,033

Net other comprehensive (loss)/income from foreign currency items

( 136,707 ) ( 6,646 ) ( 143,353 ) 69,444 1,294 70,738

Defined benefit pension items:

Other comprehensive income/(loss) before reclassifications $ 428,732 $ 55,876 $ 484,608 $ ( 140,210 ) $ ( 6,646 ) $ ( 146,856 )

2,395 2,241 4,636 ( 21,815 ) 5,510 ( 16,305 )

Amounts reclassified from accumulated other comprehensive income/(loss) to net income 50,550 — 50,550 3,503 — 3,503

5,352 ( 974 ) 4,378 10,224 ( 2,573 ) 7,651

Net other comprehensive income/(loss) from defined benefit pension items

7,747 1,267 9,014 ( 11,591 ) 2,937 ( 8,654 )

Cash flow hedges:

Other comprehensive (loss)/income before reclassifications

( 4,329 ) 1,116 ( 3,213 ) 9,081 ( 2,459 ) 6,622

Net other comprehensive income/(loss) from foreign currency items 479,282 55,876 535,158 ( 136,707 ) ( 6,646 ) ( 143,353 )

Defined benefit pension items:

Other comprehensive income before reclassifications 3,784 ( 2,625 ) 1,159 2,395 2,241 4,636

Amounts reclassified from accumulated other comprehensive income/(loss) to net income 3,788 ( 2,292 ) 1,496 5,352 ( 974 ) 4,378

1,455 ( 375 ) 1,080 ( 7,100 ) 1,923 ( 5,177 )

Amounts reclassified from accumulated other comprehensive loss to fixed assets — — — 401 ( 109 ) 292

Net other comprehensive (loss)/income from cash flow hedges ( 2,874 ) 741 ( 2,133 ) 2,382 ( 645 ) 1,737

Other comprehensive (loss)/income

Net other comprehensive income from defined benefit pension items 7,572 ( 4,917 ) 2,655 7,747 1,267 9,014

Cash flow hedges:

Other comprehensive income/(loss) before reclassifications 4,357 ( 871 ) 3,486 ( 4,329 ) 1,116 ( 3,213 )

Amounts reclassified from accumulated other comprehensive (loss)/income to net income

( 1,701 ) 340 ( 1,361 ) 1,455 ( 375 ) 1,080

Net other comprehensive income/(loss) from cash flow hedges 2,656 ( 531 ) 2,125 ( 2,874 ) 741 ( 2,133 )

Other comprehensive income/(loss) $ 489,510 $ 50,428 $ 539,938 $ ( 131,834 ) $ ( 4,638 ) $ ( 136,472 )

F-50 FORM 10-K SONOCO 2025 ANNUAL REPORT

Selected quarterly financial data

The following table sets forth selected quarterly financial data of the Company for the years ended December 31, 2024 and December 31, 2023 :

(unaudited) First

Net sales $ 1,308,636 $ 1,278,801 $ 1,354,652 $ 1,363,276

Gross profit 271,217 285,295 299,748 282,973

Net income/(loss) from continuing operations 35,512 57,410 31,392 ( 56,749 )

Net income from discontinued operations 29,761 33,541 19,817 13,256

Net income/(loss) attributable to Sonoco 65,177 90,811 50,921 ( 42,960 )

Weighted average common shares outstanding:

Basic 98,498 98,671 98,683 98,700

Diluted 99,159 99,241 99,267 98,700

Per common share:

Basic Earnings/(Loss) Per Common Share:

Continuing operations $ 0.36 $ 0.58 $ 0.32 $ ( 0.57 )

Discontinued operations 0.30 0.34 0.20 0.13

Basic earnings/(loss) per share attributable to Sonoco $ 0.66 $ 0.92 $ 0.52 $ ( 0.44 )

Diluted Earnings/(Loss) Per Common Share:

Continuing operations $ 0.36 $ 0.58 $ 0.31 $ ( 0.57 )

Discontinued operations 0.30 0.34 0.20 0.13

Diluted earnings/(loss) per share attributable to Sonoco $ 0.66 $ 0.92 $ 0.51 $ ( 0.44 )

Cash dividends $ 0.51 $ 0.52 $ 0.52 $ 0.52

Net sales $ 1,386,972 $ 1,337,589 $ 1,381,130 $ 1,335,735

Gross profit 314,796 291,946 307,848 287,979

Net income from continuing operations 121,954 84,638 111,946 61,106

Net income from discontinued operations 26,310 30,111 19,112 20,724

Net income attributable to Sonoco 148,319 114,649 130,749 81,242

Weighted average common shares outstanding:

Basic 98,167 98,325 98,337 98,349

Diluted 98,615 98,872 98,912 99,164

Per common share:

Basic Earnings Per Common Share:

Continuing operations $ 1.24 $ 0.86 $ 1.14 $ 0.61

Discontinued operations 0.27 0.31 0.19 0.21

Basic earnings per share attributable to Sonoco $ 1.51 $ 1.17 $ 1.33 $ 0.82

Diluted Earnings Per Common Share:

Continuing operations $ 1.23 $ 0.86 $ 1.13 $ 0.61

Discontinued operations 0.27 0.30 0.19 0.21

Diluted earnings per share attributable to Sonoco $ 1.50 $ 1.16 $ 1.32 $ 0.82

Cash dividends $ 0.49 $ 0.51 $ 0.51 $ 0.51

50 FORM 10-K SONOCO 2024 ANNUAL REPORT

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 8. Financial Statements and Supplementary Data