Investor Presentaiton

Disclaimer (continued) Not investment advice This Presentation does not constitute investment or financial product advice (nor tax, accounting or legal advice) or any recommendation by Orora or its advisers to subscribe for or acquire New Shares and does not and will not form any part of any contract for the acquisition of New Shares. Each recipient of this Presentation should make its own enquiries and investigations regarding all information in this Presentation including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of Orora and the impact that different future outcomes may have on Orora. This Presentation has been prepared without taking account of any person's individual investment objectives, financial situation or particular needs. Before making an investment decision, investors should consider the appropriateness of the information having regard to their own investment objectives, financial situation and needs and seek legal, accounting and taxation advice appropriate to their jurisdiction. Orora is not licensed to provide financial product advice in respect of Orora shares. Cooling off rights do not apply to the acquisition of New Shares. Future performance This Presentation contains certain 'forward looking statements'. Forward looking statements can generally be identified by the use of forward looking words such as, 'expect', 'anticipate', 'likely', 'intend', 'should', 'could', 'may', 'predict', 'plan', 'propose', 'will', 'believe', 'forecast', 'estimate', 'target', 'outlook', 'guidance', 'potential' and other similar expressions. Forward looking statements in this Presentation include statements about the timing and outcome of the Acquisition, the anticipated synergies, investment highlights, financial impacts and benefits of the Acquisition, the future performance and opportunities for growth for the Combined Group following the completion of the Acquisition, the plans, strategies and objectives of Orora management, as well as statements about, the outcome and effects of the Offer and the use of proceeds. Indications of, and guidance on, future earnings and financial position and performance, projections, expected margin improvements and Orora's outlook for the future are also forward looking statements. Such statements represent Orora's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Orora, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. The forward looking statements contained in this Presentation are not guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Orora, its directors and management, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. There can be no assurance that actual outcomes will not differ materially from these forward looking statements. Actual results, performance or achievements may vary materially from those expressed or implied in those statements and any projections and assumptions on which these statements are based. These statements may assume the success of Orora's business strategies and the proposed Acquisition including following completion of the Offer, the success of which may not be realised within the period for which the forward looking statements may have been prepared, or at all. A number of important factors could cause actual results or performance to differ materially from the forward looking statements, including the risk factors set out in this Presentation. Refer to the 'Key Risks' section on pages 40 to 47 of this Presentation for a summary of certain general and Orora specific risk factors that may affect Orora. Investors should consider the forward looking statements contained in this Presentation in light of those disclosures. No guarantee, representation or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters contained in this Presentation. The forward looking statements are based on information available to Orora as at the date of this Presentation. Except as required by law or regulation (including the ASX Listing Rules), Orora undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward looking statements. Investment risk An investment in Orora shares is subject to investment and other known and unknown risks, many of which are beyond the control of Orora and its directors. Orora does not guarantee any particular rate of return or the performance of Orora, nor does it guarantee the repayment of capital from Orora or any particular tax treatment. Investors should have regard to (amongst other things) the 'Key Risks' section of this Presentation when making their investment decision. 3 OR RA NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

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