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Peter Konieczny | Chief Executive Officer Stephen Scherger | Chief Financial Officer Quarter Ended September 30, 2026 Results November 4, 2026, 5:30 pm US EST November 5, 2026, 9:30 a.m. Australian EDT
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Disclaimers and notes 2 Cautionary statements regarding Forward -Looking Statements: Unless otherwise indicated, references to "Am cor," the "Com pany," "we," "our," and "us" in this document refer to Amcor plc a nd 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 Refo rm Act of 1995. Forward -looking statements are generally identified with words like "believe," "expect," "target," "project," "m ay," "could," "would," "approximately," "possible," "w ill," "should," "intend," "plan," "anticipate," "commit," "estim ate," "potential," "ambitions, " "outlook," or "continue," the negative of these w ords, other terms of similar meaning, or the use of future dates. Such statem ents are based on the current expectations of the management of Amcor and are qualified by the inherent risks and uncertainties surrounding future expectat ions generally. Actual results could differ m aterially from those currently anticipated due to a number of risks and uncertainti es. Neither Am cor nor any of its respective directors, executive officers, or advisors provides any representation, assurance, or guarantee that the oc currence of the events expressed or implied in any forward -looking statements will actually occur or if any of them do occur, w hat impact they w ill have on the business, results of operations or financial condition of Amcor. Should any risks and uncertainties develop into actual e vents, these developments could have a material adverse effect on Amcor's business. Risks and uncertainties that could cause act ual results to differ from expectations include, but are not limited to: changes in consumer dem and patterns and customer requirem ents in numerous indus tries; risk of loss of key customers, a reduction in their production requirem ents, or consolidation among key customers; signif icant competition in the industries and regions in which w e operate; risk of integrating acquisitions and achieving the financial and other result s and benefits anticipated at the time of acquisition; 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 ; an inability to expand our current business effectively through either organic grow th, including product innovation, invest ments, or acquisitions; challenging global economic conditions, including impacts from the M iddle East conflict; impacts of operating internationally ; price fluctuations or shortages in the availability of raw materials, energy and other inputs, which could adversely affect ou r business; production, supply, and other comm ercial risks, including those resulting from geopolitical conflicts and counterparty credit risks, which m ay be exacerbated in times of economic volatility; pandemics, epidem ics, 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 im pacts of climate change; significant disruption at a key manufacturing facility; cybersecurity risks, which c ould disrupt our operations or risk of loss of our sensitive business information; failures or disruptions in our information technology systems which co uld disrupt our operations, compromise custom er, employee, supplier, and other data; risk that the use of artificial intelligence could adversely affect our business and financial results; risk that the C ompany's significant indebtedness may limit its flexibility and increase its b orrowing costs; rising interest rates that increase our borrowing costs on our variable rate indebtedness and could have other n egative impacts; foreign exchange rate risk; a significant write -down of goodw ill and/or other intangible assets; a failure to maintain an effective syst em of internal control over financial reporting; an inability of our insurance policies, including our use of a captive insur ance company, to provide adequate protection against all of the key operational risks we face; an inability to defend our intellectual property rights or intel lectual property infringement claim s against us; litigation, including product liability claims or litigation related to Environ mental, Social, and Governance ("ESG") matters, or regulatory developments; increasing scrutiny and changing expectations from investors, customers, suppliers, and governments w ith respect to our ESG practices and commitments resulting in additional costs or exposure to additional risks; cha nging ESG government regulations including climate -related rules; changing environmental, health, and safety laws; changes in tax laws or changes in our geographic m ix of earnings; and changes in trade policy, including tariff and customs regulations or failure t o comply with such regulations. These risks and uncertainties are supplemented by those identified from time to time in our filings with the Se curities and Exchange C ommission (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, 2026, 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 Am cor does not undertake any obligation to update any forw ard -looking statements, or any other inform ation in th is communication, as a result of new inform ation, future developments or otherwise, or to correct any inaccuracies or omissio ns in them which become apparent, except as expressly required by law . All forw ard -looking statements in this comm unication are qualified in thei r entirety by this cautionary statement. Presentation of non -GAAP information : Included in this release are measures of financial perform ance that are not calculated in accordance with U.S. GAAP. These me asures 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 w hich, in the judgment of our management, are item s that, either as a result of t heir nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an imp roper base. N ote that while amortization of acquired intangible assets is excluded from non -GAAP adjusted financial measures, the revenue of the acquired en tities and all other expenses unless otherw ise stated, are reflected in our non -GAAP financial performance earnings measures. Wh ile not all inclusive, examples of these items include: m aterial restructuring programs, including associated costs such as employee seve rance, pension and related benefits, impairment of property and equipment and other assets, accelerated depreciation, terminatio n 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 comm ercial paper and contingent purchase consideration; pension settlements; impairm ents in g oodwill and equity method investments; material acquisition compensation and transaction costs such as due diligence expenses, p rofessional and legal fees, financing -related expenses; and integration costs; material purchase accounting adjustments for inventory; amortizat ion of acquired intangible assets from business combination; gains or losses on significant property and divestitures and sig nificant property and other impairments, net of insurance recovery; certain regulatory and legal matters; impacts from highly inflationary accounting; ex penses related to the Company's CEO and CFO transition; and impacts related to the Russia -Ukraine conflict and conflict in the Mid dle East. Amcor also evaluates performance on a comparable constant currency basis, which m easures financial results assuming constant foreign currency exchange rates used for translation based on the average rates in effect for the com parable 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 yea r average foreign exchange rates and then m ultiply or divide, as appropriate, those amounts by the prior -year average foreign ex change rates. We then adjust for other items affecting comparability. While not all inclusive, exam ples of items affecting com parability include the d ifference between sales or earnings in the current period and the prior period related to disposed, or ceased operations. Com parable constant currency net sales performance also excludes the impact from passing through movem ents in raw material costs. Management has used and uses t hese measures internally for planning, forecasting and evaluating the performance of the Company’s reporting segments and cer tain 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 histori cal performance of the Company. For each of these non -GAAP financial measures, a reconciliation to the m ost 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 reas onable certainty the ultimate outcom e and timing of certain significant forward -looking items without unreasonable effort. These items include but are not limited to the im pact of foreign exchange translation, restructuring program costs, asset impairments, possible g ains and losses on the sale of assets, certain tax related events, and difficulty in making accurate forecasts and projections i n connection w ith the legacy Berry Global business given recency of access to all relevant information. These items are uncertain, depend on various facto rs, and could have a material impact on U.S. GAAP earnings and cash flow measures for the guidance period. Reconciliations of Tra nsition Period projected non -GAAP measures are not included herein because the individual components are not know n with certainty as individual financial statem ents for Transition Period have not been completed.
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Industry-leading safety performance; focus on continuous improvement Upholding safety as a core value Safety Customers Winning Agility Sustainability Guided by Our Values Notes: Total Recordable Incident Rate (TRIR) expresses injuries per 200,000 hours worked, as outlined by the Department of Labor (DOL). 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. 2.24 0.82 0.39 0.56 0.27 0.48 Annual Total Recordable Incident Rate (per 200k hours worked) CYTD 2026 FY 2015 FY 2010 FY 2005 FY 2020 FY 2025 North America packaging materials industry average TRIR (2.9) Includes impact of acquired businesses 3
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Key messages 4 Solid operating performance despite challenging and dynamic macro environment • Broad-based organic volume growth of +1%, led by focus category volume growth of +3% • Adjusted EPS of $0 .95, as expected, flat to prior year on a comparable constant -currency basis 1 • Actively managing within a volatile inflationary environment Synergies of $60M, in line with expectations • Continue to expect $130M synergies in Transition Period 2; $650M over three -year period Increasing quarterly dividend to 66 cents per share • Ongoing commitment to a modestly growing dividend Updated Transition Period outlook • Lowered Adjusted EPS outlook to $1.70 to $1.80 due to timing of pass -through of higher energy and distribution costs • Actions to address these inflationary pressures are underway; expect no impact to 2027 results 1 2 3 4 1 Excludes 3-cent impact from divestitures. 2 Amcor will have a six-month reporting period from July 1, 2026, through December 31, 2026, the “Transition Period”, as part of transitioning from a previously announced June 30 to December 31 year-end
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Growth momentum 5 • Broad-based organic volume growth +1% • Fourth consecutive quarter of sequential improvement in volumes Growth initiatives Focus categories up 3% • Led by Pet Food and Foodservice • Beauty & Wellness, Liquids and Healthcare all up, with Protein flat Emerging markets up 2% • Led by China Global accounts and private label • Solid growth in global accounts • New private label team building pipeline Growth drivers 1 Product leadership in focus categories 2 Global reach across developed and emerging markets 3 Growth synergies, leveraging comprehensive product portfolio 4 Leadership in sustainability and innovation 5 Service, quality and supply reliability
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Solid operating performance 6 Financial highlights for quarter ended September 30, 2026 $6.1B 7% YoY $883M Flat to prior year1 $689M 3% YoY1 $0.95 Flat to prior year1 3.76x In-line with expectations Net Sales Adjusted EBITDA Adjusted EBIT Adjusted EPS Leverage Quarterly dividend of $0.66 per share declared; 1.5% increase vs. prior year Quarter ended September 30, 2026 ( 1) On a comparable const ant currency basis, excludes impact from divest ments. Prior period EPS retroactively adjust ed t o reflect the 1 f or 5 reverse stock split effected on January 14, 2026. EBITDA, EBIT and related margins and EPS presented on an adjusted non-GAAP basis. Other Adjusted non-GAAP measures exclude impact from divestment s and items which are not considered representative 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. Organic volume growth of 1% $60M synergies delivered EPS at midpoint of guidance Highlights
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Synergies tracking ahead of expectations 7Notes: Synergies referenced on a pre-tax basis. (1) Three years following the closing of acquisition of Berry Global. Year 1 - FY26 ~45% of total Transition Period ~20% of total By Jun 30, 20281 ~35% of total Total synergies 12 months 6 months 18 months 3 years $650 million target reaffirmed Quarter ended 09/30/26: ~$60 million • In-line with expectations • Financial ~$10 million • G&A, Procurement, Ops & Growth ~$50 million Quarter ended 12/31/26: Expect ~$70 million FY2026: ~$285 million, 10% ahead of expectations • Financial ~$45 million • G&A, Procurement & Growth ~$240 million ~$235M expected ~$650M reaffirmed~$130M expected $60M delivered (09/30/26) $285M delivered ~10% ahead of original $260M Year One expectations
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Sustained earnings growth and strong margins in core portfolio 8 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 year over year performance compared with adjusted EBIT and volumes excluding non-core and divested businesses for Core Portfolio performance. (2) After excluding 90-basis point dilution for both the Core Portfolio and for the Total Company, related to increased sales dollars associated with passing through higher raw mater ial costs. Further details can be found on ‘Reconciliations of Non -GAAP Financial Measures’ slides in the appendix section. Quarter ended September 30, 2026 Core Portfolio Total Company (incl non-core) Net sales $5.6B $6.1B Volume Growth 1 ~1.5% ~1% EBIT Margin % ex. RM pass-through2 11.9% ~12.8% 11.2% 12.1% EBIT $ Growth 1 3% 3% Global leader in consumer packaging and dispensing solutions for nutrition and health 10. Specialty applications ~15% 1. Health, Beauty & Wellness ~25% 2. Beauty & Wellness 12% 3. Healthcare 13% 4. Nutrition ~60% 5. Protein 12% 6. Liquids 8% 7. Foodservice 4% 8. Pet Food 3% 9. Other Nutrition 33%
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Global Flexible Packaging Solutions 9 September 2026 quarter Net sales up 10% or $ 303 million; Volumes flat; Volumes +1% excluding unconverted films • Pass through of higher raw material costs favorable impact of ~$316 million or 10% Adjusted EBIT up 1% or $5 million • Synergies partly offset by incentive rebuild and timing of pass-through of higher energy and distribution costs; actions taken to address by year-end Reported Result $M Quarter ended September 30, Reported ∆ CC ∆2026 2025 Net sales 3,359 3,056 +10% +10% Adjusted EBIT 414 409 +1% +1% Adjusted EBIT margin ex. RM pass -through 1 12.3% 13.6% 13.4% Notes: 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) After excluding 130-basis point dilution related to increased sales dollars associated with passing through higher raw material costs. 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. Prior-year LATAM results have been comparatively restated; refer to the reconciliation tables in the appendix. Adjusted EBIT up 1%: Synergies partly offset by timing of pass-through of higher energy and distribution costs AmPrima® Refill Pouch Up to 80% less plastic, up to 64% lower carbon footprint with a recycle-ready design Moda Vac Vacuum Sealing Increased production capacity and performance and consistent package quality
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Global Rigid Packaging Solutions 10 Notes: 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) Net sales, volume and adjusted EBIT reflects performance compared with the same period last year, excluding divested and non-core businesses. 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 secti on. Prior-year LATAM results have been comparatively restated; refer to the reconciliation tables in the appendix. (2) After excluding 50-basis point dilution related to increased sales dollars associated with passing through higher raw material costs. Excluding divestitures1, Adjusted EBIT up 3%: Synergies and organic volume growth partly offset by timing of pass-through of higher energy and distribution costs September 2026 quarter Net sales up 3% or $ 81 million; volumes up 2% • Divestitures unfavorable impact of ~$107 million or (4%) • Pass through of higher raw material costs favorable impact of ~$119 million or 4% • Excluding non-core and divestitures 1: o Net sales up ~10% ; Volumes up ~4% Adjusted EBIT (3%) lower or $9 million • Divestitures unfavorable impact of ~$17 million or (5%) • Remaining 2% growth reflects synergies and organic volume growth offset by incentive rebuild and timing of pass -through of higher energy and distribution costs; actions taken to address by year-end • Excluding divestitures, Adjusted EBIT up 3% Reported Result $M Quarter ended September 30, Reported ∆ CC ∆2026 2025 Net sales 2,770 2,689 +3% +2% Adjusted EBIT 303 312 (3%) (3%) Adjusted EBIT margin ex. RM pass -through 2 10.9% 11.4% 11.6% Li Kou Pet Food Cup Innovative inverted–cup format, mess-free dispensing, and improved consumer convenience Chovi Flip-Top Closure Improved dispensing, enhanced functionality and greater shelf differentiation
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Cash flow and leverage 11 Cash Flow ($ million) Quarter ended September 30, 2026 2025 Adjusted EBITDA 883 909 Interest and tax payments, net (189) (254) Capital expenditure (301) (238) Working capital / Other (1,182) (645) Adjusted Free Cash Flow (789) (228) Berry transaction, restructuring and integration costs (31) (115) Free Cash Flow (820) (343) Balance Sheet September 30, 2026 Net debt ($ million) $14,011 Leverage 3.76x 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 divided by LTM Adjusted EBITDA plus share-based compensation. September 2026 quarter • Free Cash Flow use of $820 million. Lower than prior year due to working capital impact driven by resin price volatility related to Middle East conflict • Expect to recover cash flow impact from Middle East conflict totalling >$500M by end of CY27 • Leverage of 3.76x in line with expectations • Committed to investment grade credit ratings and continue to expect leverage of ~3.0x by December 31, 2027
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Updated outlook 12 Refer to slide 14 for Supplemental Guidance information. Leverage calculated as Net Debt divided by Adjusted EBITDA plus share-based compensation. Outlook comments do not take into account the impact of potential portfolio optimization actions not announced to date. Outlook contemplates a range of factors, including ongoing geopolitical developments, which create a higher degree of uncertainty and additional complexity when estimating future financial results and actual results could vary materially. Reconciliations of projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for the periods referenced have not been completed. Refer to slide 2 for further information . Amcor will have a six-month reporting period from July 1, 2026, through December 31, 2026, the “Transition Period”, as part of transitioning from a previously announced June 30 to December 31 year-end Transition Period Current Expectation Previous Expectation Adjusted EPS Lowered to $1.70 to $1.80 due to timing of pass -through of higher energy and distribution costs $1.80 - $1.90 Leverage on December 31, 2026 ~3.6x 3.5x - 3.6x Reaffirmed Line of Sight to Calendar 2027 • Expect organic volume growth, leveraging expanded product offering, global reach, and leadership in sustainability and innovation • Synergies: Expect all actions to be completed by year-end; majority of $650M target achieved • Double-digit adjusted EPS growth • Targeting leverage of ~3.0x by year-end, while modestly growing the dividend
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Appendix Supplementary schedules and reconciliations
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Supplemental guidance 14 Current expectations outlined above do not take into account the impact of potential portfolio optimization actions not annou nced to date. Transition Period (Six months ended December 31, 2026) Current Expectation (unchanged) Adjusted depreciation & amortization ~$400 - $440 million Net interest expense ~$300 - $320 million Effective tax rate ~18 - 20% Capital expenditures ~$575 - $625 million Current expectations contemplate a range of factors, including ongoing geopolitical developments, which create a higher degree of uncertainty and additional complexity when estimating future financial results, and actual results could vary materially. Reconciliations of projected non-GAAP measures are not included herein because the individual components are not known with c ertainty as individual financial statements for the periods referenced have not been completed. Refer to slide 2 for further information.
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Total $650M in Synergies Expected by End of Year 3 15 $280 million in one-time cash benefits from working capital efficiencies offset restructuring and integration costs to achieve synergies over three years Cost synergies Notes: Synergies referenced on a pre-tax basis. 1) Three years following the closing of acquisition of Berry Global. Synergy Expectations by Category Synergy Expectations by Year Year 1 - FY26 ~45% of total Transition Period ~20% of total By Jun 30, 20281 ~35% of total Total synergies 12 months 6 months 18 months 3 years Procurement ~$325 million Growth synergies Financial synergies Total synergies G&A ~$160 million Operational ~$45 million Cost Synergies ~$235M expected ~$650M reaffirmed ~$130M expected $60M delivered (09/30/26) $285M delivered ~10% ahead of original $260M Year One expectations ~$60M ~$650M~$60M$530M
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Portfolio optimization, growth synergies, and focus categories drive growth 16 Sharpen focus on integrating and growing core businesses $280M revenue; $60M (pre-tax) earnings by year three >50% of core portfolio in six high growth, high margin categories ✓ Agreement to sell six businesses with total transaction value of ~$500M. Five closed. Blister System Jar & Closure Closure Jar Capsule Lid Rigid Pod ~$23B revenue Core portfolio (~$20B) Portfolio optimization (~$2.5B) Portfolio Optimization Growth Synergies Focus Categories Healthcare Beauty & Wellness Pet Food Foodservice Liquids Protein = = = ✓ Acquisition driven wins of ~$170M revenue (annualized) to date
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Amcor and Berry combination will deliver significant uplift in long-term shareholder value creation model 1717 Amcor Legacy Model Total shareholder value ~13-18% Current Model Total shareholder value ~10-15% Dividend ~$750M Re-invest in the business ~$500 - $600M Acquisitions / share repurchases ~$300 - $400M Annual cash flow ~$1.5B EPS growth ~5-10% Historical yield ~4-5% Note: Reflects long-term estimates. 1 Defined as combined operating cash flow including run -rate synergies, after interest and tax, before capital expenditures. Dividend ~$1.2B Re-invest in the business $1B+ Balance sheet / Acquisitions / share repurchases $1B+ Annual cash flow1 ~$3B+ EPS growth ~10-15% Yield 3-4% Accelerated Growth Platform $3+ Billion Annual Cash Flow1 Continue to Grow Dividend Per Share Ability to Pursue Accretive M&A and / or Share Repurchases
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Historical quarterly results 18 The Company is presenting select non -GAAP financial information to provide comparable reference periods in connection with the p reviously announced change in fiscal year -end from June 30 to December 31. All previous quarterly results are unaudited and subject to cha nge. Accordingly, such information may be presented differently in future filings with the SEC. Quarter Ended Four Quarters Ended Quarter Ended $ Million Mar 31, 2025 (4) Jun 30, 2025 (4) Sep 30, 2025 Dec 31, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 2026 Net Sales Global Rigid Packaging Solutions 2,686 2,760 2,689 2,451 10,587 2, 664 2,873 Global Flexible Packaging Solutions 3,139 3,276 3,056 2,998 12,468 3,250 3,525 Amcor (1) 5,825 6,036 5,745 5,449 23,056 5,914 6,398 Adjusted EBITDA 893 913 909 826 3,541 892 1,045 Adjusted EBIT Global Rigid Packaging Solutions 276 271 312 236 1,095 276 352 Global Flexible Packaging Solutions 438 452 409 394 1,693 452 533 Other (2) -40 -39 -34 -27 -140 -41 -49 Amcor 674 684 687 603 2,648 687 836 Adjusted EPS (3) 0.90 1.00 0.97 0.86 3.73 0.96 1.23 1. Excludes intersegment sales. 2. Represents Corporate Costs. 3. Adjusted EPS for all periods as reported. March, June and September 2025 quarters have been retroactively adjusted to refl ect the 1-for-5 reverse stock split effected on January 14, 2026. 4. Adjusted EPS as reported. Net sales, Adjusted EBITDA and Adjusted EBIT represents estimated, unaudited amounts for the combined Amcor and Berry Global business. 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
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Reconciliations of Non-GAAP Financial Measures 19
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Reconciliations of Non-GAAP Financial Measures 20