Investor Presentaiton

Disclaimer (continued) Financial data All financial information in this Presentation is in Australian Dollars ($ or AUD) unless otherwise stated. This Presentation includes certain historical financial information extracted from Orora's audited consolidated financial statements for the full year ended 30 June 2023. Investors should note that this Presentation also contains pro forma historical financial information. The pro forma historical financial information and the historical financial information, provided in this Presentation is for illustrative purposes only and is not represented as being indicative of Orora's views on its future financial condition and/or performance. The historical financial information is presented in an abbreviated form insofar as it does not include all the presentation and disclosures, statements or comparative information as required by the Australian Accounting Standards (AAS) and other mandatory professional reporting requirement applicable to general purpose financial reports prepared in accordance with the Corporations Act. The pro forma historical financial and other information relating to the impact of the Offer and the Acquisition has been prepared by Orora in reliance on information that was provided to Orora in connection with the Acquisition. The pro forma financial information has not been subject to audit or review in accordance with auditing standards. Investors should note that the pro forma financial information included in this Presentation does not purport to be in compliance with Article 11 of Regulation S-X under the U.S. Securities Act and the rules and regulations of the U.S. Securities and Exchange Commission and such information does not purport to comply with Article 3-05 of Regulation S-X. Investors should be aware that certain financial measures included in this presentation are 'non-IFRS financial information' under ASIC Regulatory Guide 230: 'Disclosing non-IFRS financial information' published by ASIC and also 'non-GAAP financial measures' within the meaning of Regulation G under the U.S. Securities Exchange Act of 1934, as amended, and are not recognised under AAS and International Financial Reporting Standards (IFRS). The non-IFRS financial information/non-GAAP financial measures include EBITDA, Adjusted EBITDA, EBITDA margin, EBIT, net debt, all measures identified as "underlying" and others, as shown on pages 40 to 47 of this Presentation. Orora believes the non-IFRS financial information/non-GAAP financial measures provide useful information to investors in measuring the financial performance and conditions of Orora. The non-IFRS financial information/non-GAAP financial measures do not have a standardised meaning prescribed by AAS and IFRS. Therefore, the non-IFRS financial information is not a measure of financial performance, liquidity or value under the IFRS and may not be comparable to similarly titled measures presented by other entities, and should not be construed as an alternative to other financial measures determined in accordance with AAS or IFRS. Investors are cautioned, therefore, not to place undue reliance on any non-IFRS financial information/non-GAAP financial measures included in this Presentation. Effect of rounding A number of figures, amounts, percentages, estimates, calculations of value and fractions in this Presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this Presentation. Basis of preparation of Saverglass Financial Information Saverglass' financial information has been prepared in accordance with French GAAP (CRC 99-02). Saverglass' financial information for the periods CY19, CY20, CY21 and CY22 has been derived from its audited statutory financial information. Saverglass' income statement for the 12 months to June 2023 (LTM Jun-23) period and balance sheet as at 30 June 2023 have been derived from unaudited consolidated management accounts and other financial information made available by Saverglass in connection with the Transaction. Saverglass' financial information is reported in Euros. Where financials have been presented in AUD throughout this presentation, these have been translated at FX rate of EUR/AUD of 1.67. Saverglass has a financial reporting date of 31 December, whereas Orora reports on a 30 June year-end basis. For certain analyses (principally CAGR analysis), Saverglass financials have been calendarised to a June year. Where information is based on Saverglass' historical December reporting period, this is specified as calendar year-end ("CY"). Saverglass' EBITDA reflects an adjusted EBITDA figure (Adjusted EBITDA) which has been normalised for items identified during due diligence. In addition, given Saverglass currently reports under French GAAP, and does not adopt AASB-16 (Leases), an estimated lease cost adjustment has been made to present EBITDA and EBIT on a post AASB-16 (Leases) basis (consistent with Orora's reporting). The quantum of the adjustments are subject to change post-Completion. 4 ORRA NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

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