Slides
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1 Fiscal 2026 Second Quarter Results Peter Konieczny Chief Executive Officer Steve Scherger Chief Financial Officer 3 February 2026 5:30pm US EST 4 February 2026 9:30am Australian EDT
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2 Disclaimers and Notes Cautionary Statement Regarding Forward-Looking Statements Unless otherwise indicated, references to "Amcor," the "Company," "we," "our," and "us" in this document refer to Amcor plc and its consolidated subsidiaries. This document contains certain statements that are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified with words like "believe," "expect," "target," "project," "may," "could," "would," "approximately," "possible," "will," "should," "intend," "plan," "anticipate," "commit," "estimate," "potential," "ambitions," "outlook," or "continue," the negative of these words, other terms of similar meaning, or the use of future dates. Such statements are based on the current expectations of the management of Amcor and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Neither Amcor nor any of its respective directors, executive officers, or advisors, provide any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Amcor. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Amcor's business, including the ability to successfully realize the expected benefits of the merger of Amcor and Berry Global Group, Inc. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: risks arising from the integration of the Amcor and Berry Global Group, Inc., ("Berry") businesses as a result of the merger completed on April 30, 2025 (the "Transaction" or "Merger"); risk of continued substantial and unexpected costs or expenses resulting from the Transaction; risk that the anticipated benefits of the Transaction may not be realized when expected or at all; risk that the Company's significant indebtedness may limit its flexibility and increase its borrowing costs; risk that the Merger-related tax liabilities could have a material impact on the Company's financial results; risk that the strategic review of our portfolio may cause disruptions to our business or may not result in completion of a transaction to restructure or divest non-core businesses or may not create additional value for our shareholders; changes in consumer demand patterns and customer requirements in numerous industries; risk of loss of key customers, a reduction in their production requirements, or consolidation among key customers; significant competition in the industries and regions in which we operate; an inability to expand our current business effectively through either organic growth, including product innovation, investments, or acquisitions; challenging global economic conditions; impacts of operating internationally; price fluctuations or shortages in the availability of raw materials, energy and other inputs, which could adversely affect our business; production, supply, and other commercial risks, including counterparty credit risks, which may be exacerbated in times of economic volatility; pandemics, epidemics, or other disease outbreaks; an inability to attract, develop, and retain our skilled workforce and manage key transitions; labor disputes and an inability to renew collective bargaining agreements at acceptable terms; physical impacts of climate change; significant disruption at a key manufacturing facility; cybersecurity risks, which could disrupt our operations or risk of loss of our sensitive business information; failures or disruptions in our information technology systems which could disrupt our operations, compromise customer, employee, supplier, and other data; rising interest rates that increase our borrowing costs on our variable rate indebtedness and could have other negative impacts; foreign exchange rate risk; a significant write-down of goodwill and/or other intangible assets; a failure to maintain an effective system of internal control over financial reporting; an inability of our insurance policies, including our use of a captive insurance company, to provide adequate protection against all of the key operational risks we face; an inability to defend our intellectual property rights or intellectual property infringement claims against us; litigation, including product liability claims or litigation related to Environmental, Social, and Governance ("ESG") matters, or regulatory developments; increasing scrutiny and changing expectations from investors, customers, suppliers, and governments with respect to our ESG practices and commitments resulting in additional costs or exposure to additional risks; changing ESG government regulations including climate-related rules; changing environmental, health, and safety laws; changes in tax laws or changes in our geographic mix of earnings; and changes in trade policy, including tariff and custom regulations or failure to comply with such regulations. These risks and uncertainties are supplemented by those identified from time to time in our filings with the Securities and Exchange Commission (the "SEC"), including without limitation, those described under Part I, "Item 1A - Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025, and as updated by our quarterly reports on Form 10-Q. You can obtain copies of Amcor’s filings with the SEC for free at the SEC’s website (www.sec.gov). Forward-looking statements included herein are made only as of the date hereof and Amcor does not undertake any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent, except as expressly required by law. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement. Presentation of non-GAAP information Included in this release are measures of financial performance that are not calculated in accordance with U.S. GAAP. These measures include adjusted EBITDA and EBITDA (calculated as earnings before interest and tax and depreciation and amortization), adjusted EBIT and EBIT (calculated as earnings before interest and tax), adjusted net income, adjusted earnings per share, adjusted free cash flow, and net debt. In arriving at these non-GAAP measures, we exclude items that either have a non-recurring impact on the income statement or which, in the judgment of our management, are items that, either as a result of their nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an improper base. Note that while amortization of acquired intangible assets is excluded from non-GAAP adjusted financial measures, the revenue of the acquired entities and all other expenses unless otherwise stated, are reflected in our non-GAAP financial performance earnings measures. While not all inclusive, examples of these items include: material restructuring programs, including associated costs such as employee severance, pension and related benefits, impairment of property and equipment and other assets, accelerated depreciation, termination payments for contracts and leases, contractual obligations, and any other qualifying costs related to restructuring plans; material sales and earnings from disposed or ceased operations and any associated profit or loss on sale of businesses or subsidiaries; changes in the fair value of economic hedging instruments on commercial paper and contingent purchase consideration; pension settlements; impairments in goodwill and equity method investments; material acquisition compensation and transaction costs such as due diligence expenses, professional and legal fees, financing-related expenses; and integration costs; material purchase accounting adjustments for inventory; amortization of acquired intangible assets from business combination; gains or losses on significant property and divestitures and significant property and other impairments, net of insurance recovery; certain regulatory and legal matters; impacts from highly inflationary accounting; expenses related to the Company's CEO and CFO transition; and impacts related to the Russia-Ukraine conflict. Amcor also evaluates performance on a comparable constant currency basis, which measures financial results assuming constant foreign currency exchange rates used for translation based on the average rates in effect for the comparable prior year period. In order to compute comparable constant currency results, we multiply or divide, as appropriate, current-year U.S. dollar results by the current year average foreign exchange rates and then multiply or divide, as appropriate, those amounts by the prior-year average foreign exchange rates. We then adjust for other items affecting comparability. While not all inclusive, examples of items affecting comparability include the difference between sales or earnings in the current period and the prior period related to disposed, or ceased operations. Comparable constant currency net sales performance also excludes the impact from passing through movements in raw material costs. Management has used and uses these measures internally for planning, forecasting and evaluating the performance of the Company’s reporting segments and certain of the measures are used as a component of Amcor’s Board of Directors’ measurement of Amcor’s performance for incentive compensation purposes. Amcor believes that these non-GAAP measures are useful to enable investors to perform comparisons of current and historical performance of the Company. For each of these non-GAAP financial measures, a reconciliation to the most directly comparable U.S. GAAP financial measure has been provided herein. These non-GAAP financial measures should not be construed as an alternative to results determined in accordance with U.S. GAAP. The Company provides guidance on a non-GAAP basis as we are unable to predict with reasonable certainty the ultimate outcome and timing of certain significant forward-looking items without unreasonable effort. These items include but are not limited to the impact of foreign exchange translation, restructuring program costs, asset impairments, possible gains and losses on the sale of assets, certain tax related events, and difficulty in making accurate forecasts and projections in connection with the legacy Berry Global business given recency of access to all relevant information. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP earnings and cash flow measures for the guidance period. Reconciliations of fiscal 2026 projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for fiscal 2026 have not been completed.
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3 2.24 0.82 0.39 0.56 0.28 0.27 0.52 Upholding Safety as a Core Value Industry Leading Safety Performance with Opportunities to Improve Notes: Total Recordable Incident Rate (TRIR) expresses injuries per 200,000 hours worked, as outlined by the Department of Labor (DO L). Amcor adheres to DOL injury and illness recordkeeping requirements (29 CFR 1904) and the Company TRIR is among industry leaders in context of the paper, plastic and rubber products manufacturing industries. Annual Total Recordable Incident Rate (per million hours worked) 2Q26 YTD Includes impact of acquired businesses 201520102005 2020 2024 2025 North America packaging materials industry average TRIR (2.9) SAFETY CUSTOMERS WINNING AGILITY SUSTAINABILITY Guided by Our Values
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4 4 1. Financial Performance In Line With Expectations: • Q2 Adjusted EPS of $0.86; up 7% YOY • H1 Adjusted EPS of $1.83; up 14% YOY • Core Portfolio Adjusted EBIT up ~7% driven by synergy benefits • Excluding synergies, Core Portfolio Adjusted EBIT in line with prior year • Demonstrating resilience in a challenging market environment 2. Q2 Synergies At Upper End Of Expectations: • Q2 synergies of $55 million; H1 synergies of $93 million • Continue to expect Fiscal 2026 synergies of at least $260 million 3. Guidance Reaffirmed: • Adjusted EPS of $4.00 to $4.15 • Free Cash Flow of $1.8 to $1.9 billion 4. Portfolio Optimization Actions Progressing Well Key Messages
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5 5 Second Quarter and First Half Financial Highlights Notes: EPS for all periods have been retroactively adjusted to reflect the 1 for 5 reverse stock split effected on January 14, 2026. EBITDA, EBIT and related margins and EPS presented on an adjusted non-GAAP basis. Adjusted non-GAAP measures exclude items which are not considered representative of ongoing operations. EPS includes the impact of consideration shares issued for the Berry Global Acquisition. Further details related to non-GAAP measures can be found on ‘Reconciliations of Non-GAAP Financial Measures’ slides in the appendix section. Q2 FY2026 H1 FY2026 $5,449m Net Sales $11,194m $826m 15.2% margin Adjusted EBITDA $1,736m 15.5% margin $603m 11.1% margin Adjusted EBIT $1,290m 11.5% margin $0.86 +7% Adjusted EPS $1.83 +14% $289m Free Cash Flow $(53)m Financial Performance In Line With Expectations Quarterly dividend of $0.65 cents per share declared; 2% increase vs. prior year
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6 6 Core Portfolio Generating Solid Earnings Growth and Strong Margins ~$20bn Core Portfolio – Global Leader In Consumer Packaging and Dispensing Solutions For Nutrition and Health Notes: EBITDA and EBIT margins presented on an adjusted non-GAAP basis. Adjusted non-GAAP measures exclude items which are not considered representative of ongoing operations. (1) Growth rates reflect estimated year over year performance compared with adjusted EBITDA, EBIT and volumes for the combined legacy Amcor and legacy Berry businesses for the same period last year, excluding currency impacts where applicable and non-core and divested businesses. Further details related to non-GAAP measures and performance ex non-core businesses can be found on ‘Reconciliations of Non-GAAP Financial Measures’ slides in the appendix section. Estimated Core Portfolio vs Total Company 2Q26 Core Portfolio Total Company (incl non-core) Net sales ~$4.9bn $5.4bn Volume Growth1 ~(1.5%) ~(2.5%) EBIT Margin % ~12% 11.1% EBIT $ Growth1 ~7% 2% 1H26 Core Portfolio Total Company (incl non-core) Net sales ~$10.0bn $11.2bn Volume Growth1 ~(2.0%) ~(2.5%) EBIT Margin % ~12.3% 11.5% EBIT $ Growth1 ~5% 1%
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7 7 Synergies on Track and Targets Reaffirmed Q2 Synergies ~$55 million; H1 Synergies ~$93 million. Continue To Expect At Least $260 Million in FY26 and $650 Million Over 3 Years (FY26-28) Year 1 ~40% of total Year 2 ~40% of total ~$260 million ~$260 million Year 3 ~20% of total ~$130 million ~$650 million Total synergies Notes: Synergies referenced on a pre-tax basis. Q2 FY2026: ~$55 million • At upper end of expected range • Financial ~$5 million • G&A and Procurement ~$50 million H1 FY2026: ~$93 million • Financial ~$10 million • G&A and Procurement ~$83 million Q3 Guidance: ~$70-80 million H2 FY2026: • Growth synergies gaining traction • $100M annualized sales run-rate secured Year 1 ~$38 million ~$260 million Q1 Q2 ~$55 million Q3E ~$70-80 million Q2
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8 8 Global Flexible Packaging Solutions Reported Result $m 2Q25 2Q26 Reported ∆ CC ∆ Net sales 2,511 3,188 +27% +23% Adjusted EBIT 322 402 +25% +22% Adjusted EBIT margin 12.8% 12.6% Reported Result $m 1H25 1H26 Reported ∆ CC ∆ Net sales 5,062 6,445 +27% +24% Adjusted EBIT 651 828 +27% +25% Adjusted EBIT margin 12.9% 12.9% Q2 FY2026 Reported Results vs Prior Year Net sales up 23% and $677 million • Acquisitions 24% of total and $605 million Adjusted EBIT up 22% and $80 million • Acquisitions 20% of total and $65 million • Synergy benefits drove balance of improvement Estimated Comparable Q2 FY2026 Results vs Prior Year1 • Volume down ~2% • Adjusted EBIT up ~1% • Synergies, cost and productivity benefits offset lower volumes • Performance excluding synergies broadly flat to prior year Synergies and Cost Performance Drive Adjusted EBIT Up ~1% While Volumes Down ~2% Notes: The Global Flexible Packaging Solutions segment includes Amcor’s legacy Flexible Packaging business and the newly acquired Berry Global Flexibles businesses. CC refers to Constant Currency. Adjusted EBIT presented on a non-GAAP basis and exclude items which are not considered representative of ongoing operations. (1) Volume and Adjusted EBIT – including related margin - performance reflects performance compared with estimated adjusted EBIT and volumes for the combined legacy Amcor and legacy Berry businesses for the same period last y ear, excluding divested businesses and currency impacts where applicable. Further details related to non-GAAP measures, CC growth and performance ex non-core businesses can be found on ‘Reconciliations of Non -GAAP Financial Measures’ slides in the appendix section. Full multi-color front and back graphics in a sleek, straight, non- curving presentation raises the packaging bar for on-the-go protein snacking
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9 9 Global Rigid Packaging Solutions Adjusted EBIT Up 15%1 With Flat Volumes Excluding Non-Core Businesses Notes: The Global Rigid Packaging Solutions segment includes Amcor’s legacy Rigid Packaging business and the newly acquired Ber ry Global Consumer Packaging International and Consumer Packaging North America businesses. CC refers to Constant Currency. Adjusted EBIT presented on a non-GAAP basis and exclude items which are not considered representative of ongoing operations. (1) Volume and Adjusted EBIT – including related margin - performance reflects performance compared with estimated adjusted EBIT and volumes for the combined legacy Amcor and legacy Berry businesses for the same period last year, excluding divested businesses and currency impacts where applicable. Further details related to non -GAAP measures, CC growth and performance ex non-core businesses can be found on ‘Reconciliations of Non -GAAP Financial Measures’ slides in the appendix section. Skincare stick applicator using recycled polypropylene sourced from Amcor’s proprietary CleanStream® technology Q2 FY2026 Reported Results vs Prior Year Net sales up 200% and $1.5 billion • Acquisitions 212% of total and $1.5 billion Adjusted EBIT up 308% and $175 million • Acquisitions 306% of total and $165 million • Synergy benefits drove balance of improvement Estimated Comparable Q2 FY2026 Results vs Prior Year Excluding Non-core Businesses1 • Volumes flat • Adjusted EBIT up ~15% • Synergy benefits drove strong EBIT growth • Performance excluding synergies flat to prior year • EBIT margin ~12%, up ~200bps Reported Result $m 2Q25 2Q26 Reported ∆ CC ∆ Net sales 730 2,264 +210% +200% Adjusted EBIT 53 228 +327% +308% Adjusted EBIT margin 7.3% 10.1% Reported Result $m 1H25 1H26 Reported ∆ CC ∆ Net sales 1,532 4,752 +210% +202% Adjusted EBIT 115 523 +354% +339% Adjusted EBIT margin 7.5% 11.0%
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10 10 Free Cash Flow and Leverage Cash flow ($ million) 1H25 1H26 Adjusted EBITDA 919 1,736 Interest and tax payments, net (254) (454) Capital expenditure (243) (459) Movement in working capital (433) (611) Other (27) (81) Adjusted Free Cash Flow (38) 131 Berry transaction and integration costs (184) Free Cash Flow (38) (53) Balance sheet December 31, 2025 Net debt ($ million) $14,081 Leverage: Net debt / LTM EBITDA 3.6 times H1 FY2026: • Free Cash Flow use of $53 million, in line with expectations • Leverage at ~3.6 times reflects seasonality of cash flows and in line with expectations FY2026 Guidance: • On track to deliver Free Cash Flow of $1.8-$1.9 billion • Continue to expect YE leverage of ~3.1 to 3.2 times Notes: Non-GAAP measures, including Adjusted EBITDA and Adjusted Free Cash Flow exclude items which are not considered represent ative of ongoing operations. Further details related to non-GAAP measures can be found on ‘Reconciliations of Non-GAAP Financial Measures’ slides in the appendix section. Leverage calculated as Net debt, adjusted for Berry transaction costs, divided by management estimate of LTM Adjusted cash EBITDA inclusive of 2Q26 annualised synergy benefits of approximately $200 million. Expect $1.8-$1.9 Billion Full-Year Free Cash Flow and Fiscal YE Leverage of 3.1-3.2 Times
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11 11 Fiscal 2026 Guidance Reaffirmed Refer to slide 14 for Supplemental Guidance information. Amcor’s guidance for fiscal 2026 reflects a full 12 months ownership of the Berry Global business and does not take into account the impact of potential portfolio optimization actions which may be completed through the balance of the year. 12 months ending June 30, 2026 Comments Adjusted EPS $4.00 to $4.15 Represents constant currency growth of ~12%-17% Unchanged. Previous $0.80 to $0.83 guidance range updated to reflect 1 for 5 Reverse Stock Split, effected on January 14, 2026 Free Cash Flow $1.8 to $1.9 billion Unchanged. Three months ending March 31, 2026 Adjusted EPS $0.90 to $1.00
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12 12 1. Financial Performance In Line With Expectations: • Q2 Adjusted EPS of $0.86; up 7% YOY • H1 Adjusted EPS of $1.83; up 14% YOY • Core Portfolio Adjusted EBIT up ~7% driven by synergy benefits • Excluding synergies, Core Portfolio Adjusted EBIT in line with prior year • Demonstrating resilience in a challenging market environment 2. Q2 Synergies At Upper End Of Expectations: • Q2 synergies of $55 million; H1 synergies of $93 million • Continue to expect Fiscal 2026 synergies of at least $260 million 3. Guidance Reaffirmed: • Adjusted EPS of $4.00 to $4.15 • Free Cash Flow of $1.8 to $1.9 billion 4. Portfolio Optimization Actions Progressing Well Key Messages
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13 13 Appendix Supplementary schedules and reconciliations
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14 14 Supplemental Guidance Amcor’s guidance for fiscal 2026 reflects a full 12 months ownership of the Berry Global business and does not take into account the impact of potential portfolio optimization actions which may be completed through the balance of the year. Amcor’s guidance contemplates a range of factors which create a higher degree of uncertainty and additional complexity when estimating future financial results. Refer to slide 2 for further information. Reconciliations of the fiscal 2026 projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for fiscal 2025 have not been completed. 12 months ending June 30, 2026 Comments Adjusted Depreciation & Amortization ~$875-$925 million Not previously provided Adjusted net interest expense ~$570-$600 million Unchanged Effective tax rate ~17-20% Previously 19%-21% Capital expenditures ~$850-$900 million Unchanged Three months ending March 31, 2026 Adjusted Depreciation & Amortisation ~$210-$240 million Adjusted net interest expense ~$145-$165 million Effective tax rate ~20%-21%
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15 15 Synergy Expectations Reaffirmed: Total $650 Million Expected by Year 3 Sources of Synergies Remain On Track Expect At Least $260 Million of Synergies in Fiscal 2026 Year 1 ~40% of total Year 2 ~40% of total ~$260 million ~$260 million Year 3 ~20% of total ~$130 million Total synergies ~$650 million $280 million in one-time cash benefits from working capital efficiencies offset costs to achieve synergies Note: Synergies referenced on a pre-tax basis. Cost synergies
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16 16 Global Leader In Consumer Packaging and Dispensing Solutions For Nutrition, Health, Beauty & Wellness Portfolio Optimization Sharpen focus on integrating and growing core businesses Three Key Drivers of Higher Long-term Organic Growth Growth Synergies $280m revenue; $60m (pre-tax) earnings by year three Focus Categories ~50% of core portfolio in 6 high growth, high margin categories Healthcare Beauty and Wellness Pet Food Foodservice Liquids Protein To date agreements to sell 2 businesses, expected to generate combined proceeds of ~$100m Acquisition driven wins of $100m+ revenue (annualized) to date Top film + Bottom web rigid pod + capsule lid Jars + closure
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17 Amcor Legacy Current Model Dividend ~$1.1bn Re-invest in the business $1+ bn Total shareholder value ~13-18% EPS growth ~10-15% Balance Sheet / Acquisitions / Share Repurchases $1+ bn Yield ~3-4% Amcor New Model Dividend ~$750m Re-invest in the business ~$500-600m Acquisitions / share repurchases ~$300-400m Annual cash flow ~$1.5bn Total shareholder value ~10-15% EPS growth ~5-10% Historical yield ~4-5% Annual cash flow1 $3+ bn Amcor and Berry combination will deliver significant uplift in long-term Shareholder Value Creation Model Accelerated Growth platform $3+ Billion Annual Cash Flow1 Continue to Grow Dividend Per Share Ability to Pursue Accretive M&A and/or Share Repurchases Note: Reflects long-term estimates. 1 Defined as combined operating cash flow including run -rate synergies, after interest and tax, before capital expenditures.
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18 Reconciliations of Non-GAAP Financial Measures
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19 Reconciliations of Non-GAAP Financial Measures
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20 Reconciliations of Non-GAAP Financial Measures
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21 ($ millions) Three months ended Dec 31, 2024 Six months ended Dec 31, 2024 Net sales Global Rigid Packaging Solutions 2,382 5,023 Global Flexible Packaging Solutions 3,162 6,412 Amcor 5,544 11,435 Adjusted EBIT Global Rigid Packaging Solutions 220 526 Global Flexible Packaging Solutions 396 807 Other1 (31) (70) Amcor 585 1,264 1. Represents corporate costs Reconciliations of Non-GAAP Financial Measures Supplemental Unaudited Historical Segment Financial Information on a Combined Basis The financial information presented below represents estimated, unaudited amounts for each of Amcor and Berry Global for the period referenced, as described here. Such information is not intended to be and has not been prepared on a basis consistent with pro forma financial information required by Article 11 of Regulation S-X, nor prepared on a consolidated basis under U.S. GAAP. Non-GAAP combined information provided here may differ materially from the final accounting for the acquisition, any future reported financial results for the combined Company and any pro forma information we provide in the future in compliance with Article 11 of Regulation S-X. Reconciliation of Adjusted EBIT against combined prior year excluding non- core businesses In order to provide the most meaningful comparison of adjusted EBIT performance for the Amcor group and for each of its reportable segments, the Company has included commentary to reflect Amcor’s estimate of year-over- year adjusted EBIT growth for the three months and six months ended December 31, 2025, compared with estimated combined EBIT for the legacy Amcor and Berry Global businesses for the three months and six months ended December 31, 2024. The combined adjusted EBIT performance information has been presented for informational purposes and Amcor believes this information reflects the impact of the combination. The combined adjusted EBIT performance information should be read in conjunction with the separate historical financial statements and accompanying notes contained in each of the Amcor and Berry Global periodic reports, as available. For the avoidance of doubt, combined adjusted EBIT performance information is not intended to be, and has not been prepared on a basis consistent with pro forma financial information required by Article 11 of Regulation S-X, nor prepared on a consolidated basis under U.S. GAAP. The non-GAAP combined information provided here may differ materially from the final accounting for the acquisition, any future reported financial results for the combined Company and any pro forma information we provide in the future in compliance with Article 11 of Regulation S-X. Presentation of combined volume performance In order to provide the most meaningful comparison of results of volume performance by region and end market for Amcor plc and for each of its reportable segments, the Company has included commentary to reflect Amcor’s estimate of year-over-year volume performance for the three months ended December 31, 2025 compared with estimated combined volumes for the legacy Amcor and Berry Global businesses for the three months ended December 31, 2024. The combined volume performance information has been presented for informational purposes and Amcor believes this information reflects the impact of the combination including allocation of volumes across the combined production footprint since May 1, 2025. 1H 26 Global Rigid Packaging Solutions Global Flexible Packaging Solutions Amcor Amcor Prior year Amcor adjusted EBIT 53 322 363 728 Acquired Berry Global earnings 1 167 74 222 536 Prior year unaudited adjusted EBIT on a combined basis 220 396 585 1264 C urrent year adjusted EBIT 228 402 603 1290 Growth compared with unaudited adjusted EBIT on a combined basis 4% 2% 3% 2% Less favorable impact of FX 4% 1% 2% 2% Add unfavorable impact of divested Bericap business (December 2024) -3% -1% -1% Add unfavorable impact of year over year earnings for non-core businesses -12% -5% -4% Combined adjusted EBIT growth excluding non-core businesses 15% 1% 7% 5% Reconcilation of adjusted EBIT against combined prior year excluding non- core businesses 2Q 26 1. Excludes divested Health, Hygiene and Specialties Global Nonwovens and Films business (HHNF), divested Specialty Tapes business and aligns variations in accounting policy and classification between legacy Berry and legacy Amcor businesses.