#1Amcor Tobacco Packaging: Investor Presentation June 2016#2amcor amcor Agenda 1 Safety Briefing 2 Introduction to ATP 3 ATP Winning Formula 4 Case Study: Winning in Brazil 2#3amcor Key Messages Strong leadership position Worldwide leader in Tobacco packaging Unrivalled position in Americas region Strong relations with customers • Supplying all major tobacco players Underpins strong growth opportunities amcor $ Opportunities to pursue further value-add through Customer relationships • Innovation ⚫ Diversification 3#4amcor Americas: 7 plants Truly global footprint Europe: 12 plants Asia: 5 plants 1 Mexico Poland UK Canada Netherlands Germany USA 24 plants 21 countries USD1.4 B sales Brazil amcor Ukraine Turkey Portugal France Switzerland Russia Argentina West Europe: East Europe: 7 plants 5 plants Kazakhstan Korea Philippines Singapore Malaysia 1 Indonesia Legacy Amcor Legacy Alcan New acquisitions / greenfield since Alcan in 2010 Worldwide leader in tobacco packaging • Strong international relationships with all major tobacco customers Unrivalled global footprint across Europe, Asia and the Americas 4#5amcor Leading Position and Strong Customer Relationships Tobacco Packaging Segments Overview Customers (% market share) 27% Global cigarette markets ex. China (100% = 3,119 B sticks*) 19% 16% 9% 4% 3% PMI BAT JTG ITG PM USA RJR amcor Global market leader, ATP supplies all major tobacco players, e.g. supplying PMI for >30 years and BAT for 70 years Customers have access to world class folding carton packaging capabilities and innovation platforms *Euromonitor 2015 global cigarette market size ex. China amcor 5#6amcor Sales $400m* Philip Morris International Argentina, Brazil, Bolivia, Colombia, Ecuador, Costa Rica, Venezuela, Curacao, Guatemala, Mexico, Canada Unrivalled Footprint with Seven Plants Across Americas Lachine, Canada 2010 105 Richmond, Virginia 2010 127 British American Tobacco Argentina, Brazil, Venezuela, Trinidad & Tobago, Cuba, Honduras, Mexico, Chile Imperial Brands USA JT Group Canada Altria USA RJ Reynolds USA Wrigley USA *Includes 10 months Brazil amcor Mondeléz International USA, Argentina, Mexico Reidsville, North Carolina 2010 Atlanta, Georgia 130 2010 96 Apodaca, Mexico 2012 269 Cachoeirinha, Brazil 2015 204 Buenos Aires, Argentina 2012 162 CO 6#7amcor Felix Angst Director Strategy, Business Development & Global Accounts Wayne Wood Regional Account amcor Director RAI Experienced Americas Leadership Team Dwight Kennedy VP & GM Americas Amcor Tobacco Packaging Jeff Schilly Regional Account Director, Altria Dan Forbes Senior Sales Manager Gisselda Lopes Director HR, Americas Olivier Zirnheld Plant GM and Director Integration, ATP Brazil Leadership changes, effective 1 July 2016: Todd Hurd named VP & GM, ATP Americas, ensuring leadership continuity across ATP Americas ⚫ Dwight Kennedy named VP, Folding Carton Sales, ATP, ensuring strong focus on diversification. lan Hayes Director Finance & Procurement Susanne Gerhard Director Operations, Latin America 7#8amcor amcor Agenda 1 Safety Briefing 2 Introduction to ATP 3 ATP Winning Formula 4 Case Study: Winning in Brazil 8#9amcor World Class Safety Performance ATP Americas Recordable Case Frequency Rate 5.61 2.74 FY 13 FY14 0.66 0.42 FY15 FY16 YTD* Key Highlights from the Region ATP America: Winners of the 2015 CEO Outperformance Award & ATP President's Award for Safety 'I Got Your Back' co-worker engagement program driving safety performance 70% Americas sites RC free for more than one year Latin Americas LTI Free for 36 months** Brazil integration - Zero Injuries from Day 1 ATP Americas Lost Time Injury Frequency Rate 2.59 0000 0100 0100 0100 FY13 0.39 0 FY14 *Includes ATP Brazil At time of preparing slide (May 2016) amcor 0 FY15 FY16 YTD* 88% Reduction in Recordable Cases from FY13 FY16 YTD 9#10amcor Grow ATP Winning Formula in Americas: Grow, Innovate and Diversify Innovate Diversify Organic growth: strengthen ATP's leadership position in Americas by growing with existing and new customers M&A: Souza Cruz printshop acquisition in 2015 solidifies ATP's leadership position in Latin America given combined footprint with Argentina and Mexico ⚫ Discipline: Deliver superior returns with continued YOY growth in sales and operating PBIT while maintaining capital discipline Differentiate through innovation: drive smart innovation along clearly defined focus areas to deliver value for customers Enter attractive new segments: rifle shot approach to accelerate commercialisation in non-tobacco segments in the Americas Expand geographic footprint across the region: continue growing where our customers need us amcor 10#11Grow Key Industry Trends ATP Supporting Customers In Driving Growth O Volume Decline ° Customer Focus ° s Regulatory Intervention Innovation Source: Euromonitor amcor Subsequent Customer Needs NA and Lat Am volumes expected to decline at ~2% CAGR (2015-19) Drivers include increased regulation, market economics and growing health awareness Customer cost savings initiatives, industry consolidation, plant closures increases pressure to be cost competitive Divesting non-core in-house print shops Continuous tax hikes in large Lat Am markets Initial discussions around Plain Packaging ° Need to invest in marketing and brand building to solidify share position in tightening regulatory environment Increased market competition drives need to differentiate products in the market, maintain premium and margins Conversion from soft labels to hinge lids ATP Value Proposition ° Leverage ATP footprint and smart innovation to offer differentiation at improved Total Cost of Ownership (TCO) Deliver improved TCO via ATP scale, ops excellence, innovation Continue to support customers by acquiring attractive print shops Support customer stock builds before regulatory implementation Deliver innovation to help build brand awareness / loyalty before major regulatory changes Deliver smart innovation to help customers win on the shelf: several technologies ready to go plus strong forward pipeline 11#12100% Grow ATP Outperforming Market Through M&A and Organic Growth ATP Americas vs Cigarette Market (USD M) ATP Americas sales (2011-15) Americas cigarette market volume (B sticks) +32% -13% 2011 2012 2013 2014 2015 2016 amcor Growth in four year period driven by Strong growth from M&A: Aluprint Mexico (2012), IPC&L Argentina (2012), Shorewood Mexico and US (2013), BAT Souza Cruz (2015) Commercial excellence and innovation critical drivers of value of organic growth • Further growth opportunities from: share gains with global customers expansion across the region diversification into attractive non-tobacco segments, e.g. confectionary and gum 12#13Grow ATP Argentina Camcor >USD80 M Invested in Lat Am Tobacco Sector Over Last 4 Years* amcor ATP Mexico Cam 2013 New gravure press acquired in Argentina One new reel to reel press and 2 press upgrades in Mexico 2014 Continued investment on press upgrades, Bobst die cutter acquisition in Mexico 2015 ATP Brazil BAT Souza Cruz acquisition Continued press upgrades in Mexico ATP Commitment to Tobacco Besides growth from M&A, ATP strongly committed to investing in upgrades to existing printing capabilities for tobacco customers ⚫ Further investments in innovation to drive differentiation are planned in the future *Includes capital expenditure and acquisition value (M&A activities: Aluprint Mexico (2012), IPC&L Argentina (2012), Shorewood Mexico and US (2013), BAT Souza Cruz (2015) amcor 13#14amcor Grow Opportunity for ATP to further convert soft labels to hinge lids Relative value by packaging type (Brazil) Ongoing conversion to increase share of hinge lid packaging Soft Labels Soft Rigids Ongoing conversion, from SL to HL Hinge Lids 14#15Innovate ATP's Innovation Focus Areas & Capabilities Innovation Focus Areas Connectivity Freshness Premium Decoration Convenience TCO amcor 15#16Innovate Adding Value Through Innovation Sunshine and Starlight Example 1: Sunshine Highly reflective metallic effects at lower cost Example 2: Starlight Inline casting method via modified Gravure press to create 3D micro-structures Premium Decoration • Total Cost of Ownership • Manufacturing & Process Capability Premium Decoration Total Cost of Ownership Material Science • Manufacturing & Process Capability amcor 16#17Diversify Growth in New Market Segments & Geographies New Segments Accelerate diversification into attractive new segments • Opportunity to further expand in the region and diversify in non-tobacco segments: must maintain rifle shot focus ⚫ Focus on premium folding carton in personal care segments (e.g. chewing gums) where there are long runs and premium packaging needs ⚫ Leverage relationships with existing Amcor Group customers Nutrition Extra NEW LONG LASTING FLAVOR Extra EXCIG New Geographies Continue to penetrate attractive new (emerging) markets Brazil: Acquisition of Souza Cruz print-shop is a key component of ATP regional growth strategy for Latin America • Opportunities to supply other customers in Brazil and to other Lat Am markets out of Brazil amco amcor Extra 155103 EXCIS 17#18Diversify ATP Americas: Strong Growth in Non-Tobacco Segments Americas Non-Tobacco Sales (USD M) 25 +7% CAGR 33 2011 2015 amcor ATP Non-Tobacco Strategic Priorities • Focus on large, high growth and premium packaging segments • Leverage ATP expertise in premium packaging to add value Leverage existing asset base Dedicated sales and business development teams 7% CAGR over past 5 years off low base New business wins secured 18#19amcor amcor Agenda 1 Safety Briefing 2 Introduction to ATP 3 ATP Winning Formula 4 Case Study: Winning in Brazil 19#20amcor ...l Volume Winning in Brazil Through Volume, Value & Diversification $ Value Diversification • Long-term growth in legal cigarette con- sumption: first decline in illegal consumption after 7 years, driven by increasingly effective government combat against illicit trade • Opportunities to supply other customers in Brazil and to other Lat Am markets out of Brazil Potential for long-term volume growth driven by new product initiatives, innovation and at some point economic recovery Ongoing conversion from soft packs to HL: incremental value with market migrating from semi-rigid to HL packaging • Investments in brand building, new products and innovation Delivering Synergies from Souza Cruz acquisition: Successfully executing the integration plan and delivering on synergies Diversification Strategy focuses on winning new business in non-tobacco segments in Brazil and other Latin American markets amcor 20 20#21amcor Americas: 7 plants Acquisition Strengthens ATP´s Global Footprint Europe: 12 plants Asia: 5 plants Brazil Cigarette Market Share** Others PMI Poland UK Canada Netherlands Germany USA Mexico 24 plants 21 countries USD1.4* B global sales ATP plant ATP plant serving BAT *Expected sales for 10 months FY15/16 by Amcor **as of 2014 amcor Brazil Argentina Ukraine Turkey Portugal France Switzerland Russia Kazakhstan Korea Philippines Malaysia Singapore Indonesia Souza Cruz / BAT ATP's Opportunities in Brazil Grow ATP global market share with BAT Give customers in Brazil access to ATP's resources, capabilities and innovation platforms Provide contingency of supply and benefits of a global footprint 21#22amcor ATBC Management Team Mariângela Bragagnolo HR Manager amcor Guilherme Fraga OHSE Manager Felipe Dias Production & Supply Chain Manager Guillherme Rezende Pre-Press Manager Olivier Zirnheld General Manager & Director Integration Silvana Scherer Quality Coordinator Roberto Pelinsser Finance Manager Rodrigo Goulart Process Engineering Manager David Becker Regional Account Director BAT 22 22#23amcor amcor ATBC Site Overview Acquired in 2015 Machinery 4 Gravure Presses 4 Slitters 5 Perforators (tipping) 1 Sheeter 1 Offline Die Cutter Capabilities Specialties 10 Print Units (max) Gravure ° Hinge Lid Soft Label Soft Rigid UV Product Development Rotary Inner Bundle Overwrap Tipping Paper 204 FTE's Av. Frederico Augusto Ritter 8000 Distrito Industrial Cachoeirinha Brazil 23#24amcor Safety Integrity Teamwork Social Responsibility Innovation Outperformance $$ Safety Customer Focus Talent Capital Discipline Low Cost amcor ATBC Integration Robust Planning & Stakeholder Engagement Stay Safe Introduce Amcor Safety culture Implement Amcor and industry best standards Manage the Noise Constant communication to keep all stakeholders updated with integration status Customer Focus Strengthen the partnership with Souz Cruz Deliver strong DIFOTIS Capture Synergies Implement manufacturing best practices Enhanced benefits from Procurement and organisation scale Strong & Focused Governance team EMT involvement under BG President Leadership Dedicated resource for integration planning and management Cross functional and regional team to ensure alignment Align the Organisation Engage co-workers and develop talent Implement new ERP and reporting systems 24#25amcor Safety and DIFOTIS Improvement at ATBC Zero Injuries since Day 1 16 14 12 10 8 6. st 4 2 0 RCFR LTIFR Safety DIFOTIS (year to date) 2009 2010 2011 2012 2013 2014 2015 2015 2016 amcor Amcor Amcor 97% Customer Focus delivered in full, on time and to customer specification 25#26amcor Talent amcor amcor Engagement Development Community Talent 26#27amcor Key Messages $ Strong leadership position Worldwide leader in Tobacco packaging Unrivalled position in Americas region Strong relations with customers • Supplying all major tobacco players Underpins strong growth opportunities Opportunities to pursue further value add through • Customer relationships • Innovation • Diversification amcor 27