Amcor FY18 Results and FY19 Outlook

Amcor and Bemis combination: financial rationale Substantial value creation for all shareholders Compelling transaction metrics All-stock acquisition at an implied value in line with Amcor's current trading EV/PBITDA multiple, pre synergies USD 180 million of pre-tax annual cost synergies by the end of year 31 • Double digit proforma EPS² accretion for all shareholders³ • Double digit returns in excess of Amcor's WACC Stronger financial profile going forward Greater liquidity for investors Cash and tax free • • . Revenue of more than USD 13 billion and PBITDA of USD 2.2 billion³ Combined estimated market capitalisation of USD 17 billion4 Higher margins through the delivery of cost synergies Potential to grow at higher rates over long term - stronger customer value proposition, complementary capabilities, increased exposures to attractive segments Annual free cash flow of more than USD 1 billion 5 Investment grade balance sheet with immediate capacity for further investment Two major global listings - NYSE and ASX Expected inclusion in the S&P500 and S&P/ASX 200 indexes • For all shareholders in a share for share exchange 1. 2. amcor 3. 4. Incremental to Bemis' "Agility" improvement plan Excludes the impact of purchase accounting Excluding the value of capitalized synergies After taking into account USD 180 million pre-tax cost synergies 5. Defined as cash from operations after capital expenditure, before dividends 33

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