#1Fiscal 2023 Full Year results (twelve months ended June 30, 2023) Ron Delia CEO Michael Casamento CFO August 16, 2023 US August 17, 2023 Australia amcor NYSE: AMCR | ASX: AMC#2Disclaimers Cautionary Statement Regarding Forward-Looking Statements 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. None of Amcor or 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. Risks and uncertainties that could cause actual results to differ from expectations include, but are not limited to: changes in consumer demand patterns and customer requirements; the loss of key customers, a reduction in production requirements of key customers; significant competition in the industries and regions in which Amcor operates; failure by Amcor to expand its business; challenging current and future global economic conditions, including the Russia-Ukraine conflict and inflation; impact of operating internationally; price fluctuations or shortages in the availability of raw materials, energy, and other inputs; disruptions to production, supply, and 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 and retain our global executive management team and our skilled workforce; costs and liabilities related to environment, health, and safety ("EHS") laws and regulations as well as changes in the global climate; labor disputes and an inability to renew collective bargaining agreements at acceptable terms; risks related to climate change; cybersecurity risks; failures or disruptions in information technology systems; rising interest rates; a significant increase in indebtedness or a downgrade in the credit rating; foreign exchange rate risk; a significant write-down of goodwill and/or other intangible assets; failure to maintain an effective system of internal control over financial reporting; inability of Amcor's insurance policies to provide adequate protections; challenges to or the loss of intellectual property rights; litigation, including product liability claims or regulatory developments; increasing scrutiny and changing expectations from investors, customers, and governments with respect to Amcor's Environmental, Social and Governance practices and commitments resulting in increased costs; changing government regulations in environmental, health, and safety matters; changes in tax laws or changes in our geographic mix of earnings; and other risks and uncertainties identified from time to time in Amcor's filings with the U.S. Securities and Exchange Commission (the "SEC"), including without limitation, those described under Item 1A. "Risk Factors" of Amcor's annual report on Form 10-K for the fiscal year ended June 30, 2022 and any subsequent 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; ⚫ significant pension settlements; impairments in goodwill and equity method investments; material acquisition compensation and transaction costs such as due diligence expenses, professional and legal fees, 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 hyperinflation accounting; 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 acquired, 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, and certain tax related events. 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. 2 amcor#3Safety Safety Guided by our values. Our number one priority Amcor Values Recordable-case frequency rate (per million hours worked) Integrity Collaboration Accountability Results and Outperformance 31% reduction in number of injuries 69% of sites injury free for >12 months 11.2 4.1 Includes impact of acquired businesses 2.8 2.0 2.1 1.5 0.3 2005 2010 2015 2020 2022 2023 2023 TRIR 3 Notes: Recordable Case Frequency Rate (RCFR) expresses injuries per 1,000,000 hours worked. Graph data shown for a 12 month period ended June 30 unless otherwise indicated. Acquired businesses (including Bemis) are included in 2020 and account for the increase in frequency rate compared with 2015. Total Recordable Incident Rate (TRIR) expresses injuries per 200,000 hours worked. Amcor's TRIR is equivalent to Amcor's rate under OSHA (Occupational Safety & Health Administration). amcor#44 Key messages 1. Solid FY23 operating performance despite challenging market dynamics 2. Proactively taking price and cost actions 3. Expect a return to solid earnings growth in second half of FY24 4. Confident in long term growth strategy and investing to build on our strong foundation amcor#5Fiscal 2023 - Challenging macro dynamics in Q3 and Q4 Recovering inflation and managing costs to deliver solid operating results in a soft and volatile demand environment Net sales EBIT FY23 In line vs pcp +5% including pass through of higher raw material costs $14,694m EPS $1.2 billion cash returns to shareholders FY23 +1% vs pcp FY23 -2% vs pcp $1,608m 73.3 cents $431 million share repurchases Annual dividend increased to 49 cents per share 4Q -5% vs pcp $3,673m 4Q -7% vs pcp $436m 4Q -14% vs pcp • ROAFE of 15.4% 19.3 cents 5 Notes: EBIT and EPS presented on an adjusted basis and growth rates for these and Net sales exclude the impact of currency and items impacting comparability. Adjusted non-GAAP measures exclude items which are not considered representative of ongoing operations. RoAFE reflects Adjusted EBIT (Last twelve months) / Average funds employed (four quarter average). Further details related to non-GAAP measures and reconciliations to U.S. GAAP measures can be found in the appendix section. Definition 'pcp' is 'prior comparator period'. amcor#66 Ongoing actions on price and cost Continuing to proactively manage the controllables to deliver ongoing benefits. 1. Pricing to compensate for inflation: >$1.1bn in FY23 2. Cost productivity and flexing: Reduction of >$200m costs, including >1,200 Full Time Employees in FY23 3. Structural cost reduction: ~$50m total benefits. ~$35m in FY24 (H2 weighted) and balance in FY25 Benefits from these key actions expected to have an ongoing favorable impact on earnings leverage Notes: Non-GAAP measures exclude items which are not considered representative of ongoing operations. Further details related to non-GAAP measures including Adjusted EBITDA and Adjusted Free Cash Flow and reconciliations to U.S. GAAP measures can be found in the appendix section. amcor#7Flexibles segment Annual earnings growth benefited from price and cost actions FY22 FY23 Comparable constant currency A • Net sales ($m) 11,151 11,154 +1% • Adjusted EBIT ($m) 1,517 1,429 +1% Adjusted EBIT margin 13.6% 12.8% PROFESSIONAL LOFMERGS PROFESSIONAL LOFBERGS PROFESSIONAL PROFESSIONAL Fiscal 2023 highlights • • Customer transition to AmPrima TM forming film Customer transition to AmPrima TM Plus coffee pouch Net sales of $11.2bn includes price increases of ~$515m (5% growth) related to higher raw material costs Net sales up 1%. Strong price/mix; volumes down 3% • • Overall volumes in all regions impacted by slower demand and customer destocking primarily in the second half of the year Strong volume growth in priority pet care and pharmaceutical end markets Adjusted EBIT up 1% reflecting favorable cost performance, partly offset by lower volumes and unfavorable mix trends 4Q Net Sales and Adjusted EBIT impacted by lower volumes and unfavorable mix trends, partly offset by cost reduction benefits 7 Notes: Non-GAAP measures exclude items which are not considered representative of ongoing operations. Further details related to non-GAAP measures including Adjusted EBIT and reconciliations to U.S. GAAP measures can be found in the appendix. Comparable constant currency A% for Net sales excludes a 5% impact from the pass through of higher raw material costs, a 4% unfavorable currency impact and a 2% unfavorable impact from items affecting comparability (acquired, disposed and ceased operations). amcor#8Rigid Packaging segment Slower, more volatile demand dynamics and unfavorable mix trends in H2 Net sales ($m) Fiscal 2023 highlights FY22 FY23 Comparable constant currency A 3,393 3,540 (3)% • Adjusted EBIT ($m) 289 265 (7)% Adjusted EBIT margin 8.5% 7.5% BLUE BIN 100% CUCUMBER RAPID RENYDRATION BODYARMOR 10 FLASH I.V New product launch in 100% recycled PET New product launch in PET format format Net sales of $3.5bn include price increases of ~$260m (8% growth) related to higher raw material costs North America: • Beverage: hot fill container volumes in line with prior year. Overall volumes impacted by slower demand and customer destocking Specialty containers: lower volumes Latin America volumes down LSD%. Challenged by macroeconomic conditions across the region Adjusted EBIT 7% lower than last year Seasonally strongest 4Q Net sales and Adjusted EBIT impacted by lower volumes and unfavorable mix trends, partly offset by cost reduction benefits 8 Notes: Non-GAAP measures exclude items which are not considered representative of ongoing operations. Further details related to non-GAAP measures including Adjusted EBIT and reconciliations to U.S. GAAP measures can be found in the appendix. Comparable constant currency A% for Net sales excludes an 8% impact from the pass through of higher raw material cost and a 1% unfavorable currency impact. LSD is 'Low- Single Digit'. amcor#9Cash flow and balance sheet Strong, investment grade balance sheet. Focused on working capital and prioritizing inventory reduction Year to date cash flow ($ million) FY22 FY23 Adjusted EBITDA 2,117 2,018 Interest and tax payments (375) (473) Capital expenditure (527) (526) Movement in working capital (154) (229) Other 5 58 Adjusted Free Cash Flow (1) 1,066 848 Fiscal 2023 highlights $848 million Adjusted Free Cash Flow in line with guidance provided in May Working capital impacted by reduced accounts payable balances related to lower volumes and inventory reduction initiatives >$400 million decrease in inventory achieved since November 2022 peak Strong, investment grade balance sheet June June Balance sheet(2) 2022 2023 • Net debt ($ million) Leverage at 3.0x in line with expectations 5,715 Leverage: Net debt / LTM EBITDA (x) 2.7 6,057 3.0 Notes: Non-GAAP measures exclude items which are not considered representative of ongoing operations. Further details related to non-GAAP measures including Adjusted EBITDA and Adjusted Free Cash Flow and reconciliations to U.S. GAAP measures can be found in the appendix section. Adjusted Free Cash Flow excludes Russia-Ukraine conflict impacts, material transaction and integration related costs because these cash flows are not considered to be representative of ongoing operations. (2) Leverage calculated as Net debt divided by adjusted trailing twelve month EBITDA. 9 (1) amcor#10Fiscal 2024 guidance 73.3 cps Adjusted EPS Guidance -2% +/- LSD% (-6%) (-3%) Comparable constant currency range down LSD-MSD% -2% 67-71 cps FY23 Organic Adjusted EPS growth Share repurchases Interest & tax Russia expense FX FY24 divestment Adjusted EPS • • . FY24 adjusted EPS assumptions include: Comparable constant currency adjusted EPS expected to be down HSD-LDD% in 1H24 and up MSD% in 2H24 Estimated net interest expense of $320 to $340 million (pre-tax) 1H24 impact related to the sale of three plants in Russia in December 2022 Current foreign exchange rates prevail for the balance of fiscal 2024 Adjusted Free Cash Flow of approximately $850 to $950 million ~$70 million of share repurchases, related to program announced in fiscal 2023 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 2024 projected non-GAAP measures are not included herein because the individual components are not known with certainty as individual financial statements for fiscal 2024 have not been completed. 10 Notes: LDD is 'Low-Double Digit'. MSD is 'Mid-Single Digit'. HSD is 'High-Single Digit'. amcor#11Calendar year 2023 in context EPS growth in June 24 half trending towards LT average Comparable Constant Currency Adjusted EPS growth 12% Up HSD% 9% 8% Challenging 2023 Calendar Year Up MSD% (10%) Down HSD- LDD% Proven track record of strong and consistent long term growth • Calendar Year 2023 unfavorably impacted by: Higher interest costs (~6% headwind) Challenging demand dynamics 2H24 growth trending towards long term average. Expected to be favorably impacted by: • Ongoing benefits from price and cost actions resulting in increased earnings leverage ~$35m from structural cost initiatives 11 FY24 comparable constant currency range down LSD-MSD% Fiscal 14- 21 average June 22 half Dec 22 half June 23 half Dec 23 half est. June 24 half est. Expected long term average Notes: MSD is 'Mid-Single Digit'. HSD is 'High-Single Digit'. LDD is 'Low-Double Digit'. • Reduced interest headwind . Cycling favorable prior year comparatives amcor#12Investing in multiple drivers of sustainable organic growth Priority Categories Emerging Markets Innovation >$4 bn sales in higher growth, higher value categories: >$3 bn Emerging Markets sales across 25 countries: Healthcare NESPRESSO RIBLYE STEAK Protein Hot-fill beverage FLKE DAG FEEST Driving value through differentiated packaging: 成贝單、宝贝第二章第二段 O 0: Green Giant ZUCCHINI TOTS Green Glane ZUCCHINIT NITOTS VALUE edigree DENTASTIX SHAVED STEAK FRESCO Original A 45 With Real Chicken Premium Coffee Pet food Historic MSD volume growth drives mix improvement and margin expansion Historic MSD volume growth across Emerging Markets portfolio More sustainable packaging ~$100m invested every year in our industry leading R&D capabilities To preserve food and healthcare products, protect consumers and promote brands 12 Notes: MSD is 'Mid-Single Digit'. amcor#13Priority category focus: protein packaging -$1.2bn global sales in this attractive, high value market SALMON STEAKS SALMON MON SALMON RIBEYE STEAK Freshers Finest Whole Young Turkey ■North America ■Europe ■ Emerging Markets Amcor's differentiated value proposition addresses requirements for specialized, more sophisticated and sustainable solutions Comprehensive product portfolio for fresh and processed meat Category focused sales and business development teams Amcor Moda Packaging Solutions Extensive global footprint Wholly owned equipment offering, providing total system solution New Zealand based Moda Systems acquired in May 2023 Leading manufacturer of state-of-the-art automated protein packaging machines Positions Amcor to offer an end-to-end packaging solution including primary packaging, equipment and technical service 13 amcor#1414 Leading the industry on Responsible Packaging Responsible Packaging: Packaging design 2 Waste management infrastructure Consumer 3 participation Collaborating with partners across the value chain to support development of waste management systems and consumer education MARS Licella delterra P&G Mondelez, International amcor#1515 Key messages 1. Solid FY23 operating performance despite challenging market dynamics 2. Proactively taking price and cost actions 3. Expect a return to solid earnings growth in second half of FY24 4. Confident in long term growth strategy and investing to build on our strong foundation amcor#16amcor Appendix slides Supplementary schedules and reconciliations amcor amcor amcor#17Strong foundation for growth & value creation $$ Global leader in primary packaging for consumer staples and healthcare with a strong track record Consistent growth from priority categories, emerging markets and innovation Strong cash flow and balance sheet provide ongoing capacity to invest Increasing investment for growth and building momentum Compelling and growing dividend with current yield -5% 17 EPS growth + Dividend yield = 10-15% per year Notes: EPS growth refers to comparable constant currency growth. A range of factors are contemplated when estimating future financial results. Refer to slide 2 for further information. amcor#18Compelling cash returns to shareholders $1.2 billion cash returns in Fiscal 2023 $431 million to repurchase -3% of outstanding shares Industry leading dividend increased to 49 cents per share 5.0% Current Dividend yield ~$1.9bn share repurchases since FY20 ~11% of total shares outstanding 18 1.8% S&P 500 1.6% Amcor Industry average Member of the S&P 500 Dividend Aristocrats amcor#1919 FX translation impact FY23 currency impact Total currency impact Adjusted EBIT Adjusted Net income $ million (42) (34) EUR:USD Euro weakened vs USD, Average USD to EUR rate FY23 0.9561 vs FY22 0.8881 USD million impact on FY23 adjusted Net income (8%) (23) USD 45-55% Other currencies (2): USD Other currencies weighted average vs USD weakened for FY23 vs USD million impact on FY23 adjusted Net income FY22 average rates (4%) ུས (1) (2) Approximate ranges based on adjusted Net income by currency. Includes all currencies other than USD and EUR. (11) Combined Net income currency exposures(1) EUR 20-30% Other currencies (2) 20-30% amcor#20Reconciliations of non-GAAP financial measures ($ million) Net income attributable to Amcor Net income attributable to non-controlling interests Tax expense Three Months Ended June 30, 2022 Three Months Ended June 30, 2023 EPS EPS (Diluted (Diluted EBITDA EBIT Net Income US cents)() EBITDA EBIT Net Income US cents)) 109 109 109 7.3 181 181 181 12.3 3 3 4 4 103 103 68 68 Interest expense, net 35 35 70 70 Depreciation and amortization 145 144 EBITDA, EBIT, Net income and EPS 395 250 109 7.3 467 323 2019 Bemis Integration Plan 11 11 11 0.7 - Net loss on disposals 1 1 1 =- ༅།། 181 12.3 Impact of hyperinflation 6 6 6 0.4 5 5 5 0.4 Property and other (gains)/losses,net(2) (10) (10) (10) (0.6) 2 2 2 0.1 Russia-Ukraine conflict impacts(3) 200 200 200 13.3 66 66 66 4.5 Pension settlements 5 5 5 0.3 5 5 5 0.3 Other - (5) (5) (5) (0.4) Amortization of acquired intangibles(4) 42 42 2.7 40 40 2.9 Tax effect of above items 4 0.3 (12) (0.8) Adjusted EBITDA, EBIT, Net income, and EPS 609 505 368 24.4 540 436 282 19.3 Reconciliation of adjusted growth to comparable constant currency growth % growth - Adjusted EBITDA, EBIT, Net income and EPS (11) (14) (23) (21) % items affecting comparability(5) % currency impact 5 6 7 7 - 1 = % comparable constant currency growth (6) (7) (16) (14) Adjusted EBITDA 609 540 Interest paid, net (47) (79) Income tax paid (93) (95) Purchase of property, plant and equipment and other intangible assets (154) (144) Proceeds from sales of property, plant and equipment and other intangible assets 11 18 Movement in working capital 493 572 Other Adjusted Free Cash Flow (16) 22 803 834 (1) Calculation of diluted EPS for the three months ended June 30, 2023 excludes net income attributable to shares to be repurchased under forward contracts of $1 million, and $1 million for the three months ended June 30, 2022. (2) Property and other (gains)/losses, net for the three months ended June 30, 2023 includes property claims and losses, net insurance recovery related to the closure of our business in South Africa. The three months ended June 30, 2022 include insurance recovery primarily associated with the destruction of our Durban, South Africa facility during general civil unrest in July 2021, net of business losses. (3) Includes incremental restructuring and other costs attributable to group wide initiatives to offset divested earnings from the Russian business. The three months ended June 30, 2022 include impairment charges and restructuring and related expenses. (4) Amortization of acquired intangible assets from business combinations. (5) Reflects the impact of acquired, disposed, and ceased operations. 20 amcor#21Reconciliations of non-GAAP financial measures Twelve Months Ended June 30, 2022 Twelve Months Ended June 30, 2023 ($ million) Net income attributable to Amcor EBITDA EBIT Net Income 805 805 805 EPS (Diluted US cents)) 52.9 EBITDA EBIT Net Income EPS (Diluted US cents) 1,048 1,048 1,048 70.5 Net income attributable to non-controlling interests 10 10 10 10 Tax expense 300 300 193 193 Interest expense, net 135 135 259 259 Depreciation and amortization 579 569 EBITDA, EBIT, Net income and EPS 1.829 1,250 805 52.9 2,080 1,510 1,048 70.5 2019 Bemis Integration Plan 37 37 37 2.5 Net loss on disposals (2) 10 10 10 0.7 Impact of hyperinflation 16 16 16 1.0 12 24 24 24 1.9 Property and other losses, net(3) 13 13 13 0.8 2 2 2 0.1 Russia-Ukraine conflict impacts(4) 200 200 200 13.2 (90) (90) (90) (6.0) Pension settlements 8 8 8 0.5 5 5 5 0.3 Other 4 4 4 0.3 (3) (3) (3) (0.3) Amortization of acquired intangibles (5) 163 163 10.7 160 160 10.8 Tax effect of above items (32) (2.1) (57) (4.0) Adjusted EBITDA, EBIT, Net income and EPS 2,117 1,701 1,224 80.5 2,018 1,608 1,089 73.3 Reconciliation of adjusted growth to comparable constant currency growth % growth - Adjusted EBITDA, EBIT, Net income, and EPS (5) (5) (11) (9) % items affecting comparability(6) 3 4 4 4 % currency impact 3 2 3 3 % comparable constant currency growth 1 1 (4) (2) Adjusted EBITDA 2,117 2,018 Interest paid, net (119) (248) Income tax paid (256) (225) Purchase of property, plant and equipment and other intangible assets (527) (526) Proceeds from sales of property, plant and equipment and other intangible assets 18 30 Movement in working capital (154) Other Adjusted Free Cash Flow (13) 1,066 (229) 28 848 (1) Calculation of diluted EPS for the twelve months ended June 30, 2023 excludes net income attributable to shares to be repurchased under forward contracts of $7 million, and $3 million for the twelve months ended June 30, 2022. (2) Includes losses on disposal of non-core businesses in fiscal year 2022. (3) Property and other losses, net for fiscal year 2023 includes property claims and losses, net of insurance recovery related to the closure of our business in South Africa. Fiscal year 2022 includes business losses primarily associated with the destruction of our Durban, South Africa facility during general civil unrest in July 2021, net of insurance recovery. (4) Includes the net gain on disposal of the Russian business in December 2022 and incremental restructuring and other costs attributable to group wide initiatives to offset divested earnings from the Russian business. Fiscal year 2022 includes impairment charges and restructuring and related expenses. (5) Amortization of acquired intangible assets from business combinations. (6) Reflects the impact of acquired, disposed, and ceased operations. 21 amcor#22Reconciliations of non-GAAP financial measures Reconciliation of adjusted EBIT by reporting segment ($ million) Three Months Ended June 30, 2022 Flexibles Rigid Packaging Other Net income attributable to Amcor Net income attributable to non- controlling interests Tax expense Interest expense, net EBIT Total Flexibles 109 Three Months Ended June 30, 2023 Rigid Packaging Other Total 181 3 + 4 103 68 35 70 210 87 (46) 250 283 62 2019 Bemis Integration Plan Net loss on disposals 12 1 (1) 11 1 Impact of hyperinflation 6 Property and other (gains)/losses, net (14) Russia-Ukraine conflict impacts(2) 200 (10) Pension settlements Other Amortization of acquired intangibles (3) Adjusted EBIT 40 449 Adjusted EBIT / sales% 15.1 % - 3 1 2 | | | 200 62 5 3 1 222 | 25|22- (22) 323 5 2 66 5 (6) (5) 42 39 1 40 96 (39) 10.1% 505 12.9 % 387 73 (24) 436 13.9 % 8.1 % 11.9 % Reconciliation of adjusted growth to comparable constant currency growth % growth - Adjusted EBIT % items affecting comparability(4) % currency impact % comparable constant currency (7) (14) (24) (14) 7 1 (23) 1 (7) (1) Property and other (gains)/losses, net for the three months ended June 30, 2023 includes property claims and losses, net of insurance recovery related to the closure of our business in South Africa. The three months ended June 30, 2022 include insurance recovery primarily associated with the destruction of our Durban, South Africa facility during general civil unrest in July 2021, net of business losses. (2) Includes incremental restructuring and other costs attributable to group wide initiatives to offset divested earnings from the Russian business. The three months ended June 30, 2022 include impairment charges and restructuring and related expenses. (3) Amortization of acquired intangible assets from business combinations. (4) Reflects the impact of acquired, disposed, and ceased operations. 22 amcor#23Reconciliations of non-GAAP financial measures ($ million) Net income attributable to Amcor Net income attributable to non- controlling interests Tax expense Interest expense, net EBIT 2019 Bemis Integration Plan Twelve Months Ended June 30, 2022 Flexibles Rigid Packaging Other Total Flexibles 805 Twelve Months Ended June 30, 2023 Rigid Packaging Other Total 1,048 10 10 300 193 135 259 1,101 265 (116) 1,250 1,357 225 (72) 1,510 38 (1) 37 Net loss on disposals (1) 10 10 Impact of hyperinflation 16 16 24 24 Property and other losses, net(2) 9 4. 13 2 2 Russia-Ukraine conflict impacts(3) 200 200 (100) 8 2 (90) Pension settlements 3 5 8 3 2 5 Other 2 2 4 14 1 (18) (3) Amortization of acquired intangibles (4) Adjusted EBIT 158 5 163 155 5 160 1,517 289 (105) 1,701 1,429 265 (86) 1.608 Adjusted EBIT / sales% 13.6% 8.5% 11.7 % 12.8% 7.5% 10.9 % Reconciliation of adjusted growth to comparable constant currency growth % growth - Adjusted EBIT % items affecting comparability(5) % currency impact % comparable constant currency growth (1) Includes losses on disposal of non-core businesses in fiscal year 2022. (6) (8) (5) 4 4 3 1 2 1 (7) (2) Property and other (gains)/losses, net for fiscal year 2023 includes property claims and losses, net of insurance recovery related to the closure of our business in South Africa. Fiscal year 2022 includes business losses primarily associated with the destruction of our Durban, South Africa facility. during general civil unrest in July 2021, net of insurance recovery. (3) Includes the net gain on the sale of the Russian business and incremental restructuring and other costs attributable to group wide initiatives to offset divested earnings from the Russian business. Fiscal year 2022 includes impairment charges and restructuring and related expenses. (4) Amortization of acquired intangible assets from business combinations. (5) Reflects the impact of acquired, disposed, and ceased operations. Reconciliation of net debt ($ million) Cash and cash equivalents Short-term debt Current portion of long-term debt Long-term debt excluding current portion Net debt 23 23 June 30, 2022 June 30, 2023 (775) (689) 136 80 14 13 6,340 6,653 5,715 6,057 amcor