Investor Presentaiton

Key risks - Orora and its business (continued) While the risks set out in this section are stated to relate to Orora and its business, investors should consider that some or all of these risks will also apply to Saverglass and its business, which Orora will own following completion of the Acquisition Insurance risk Retention of key personnel Workplace health and safety Mergers & Acquisitions (M&A) Foreign exchange and foreign regulations Capital investments Country and regulatory risk Orora maintains appropriate insurance coverage in respect of its assets where insurance coverage is available on commercial terms and at acceptable prices. Insurance cover may not be available for certain types of losses (for example, losses caused by war, riots and civil commotion) or even if it is available it may be too expensive. Any losses incurred due to uninsured risks, or a loss in excess of the insured amounts, could lead to a loss of some of the capital invested by Orora, and could adversely affect the financial performance of Orora. Increases in insurance premiums as a result of insurance claims or otherwise may also adversely affect Orora's financial performance. An important part of Orora's business strategy and success is the ongoing retention of key personnel, in particular the senior management team. The loss of such personnel, or any delay in their replacement, could have a materially adverse impact on Orora's ability to operate the business and achieve its growth strategies and prospects. The loss of key personnel could also have in impact on operations, with the potential loss of key customer relationships, potential loss of extensive industry experience and knowledge and have an adverse impact on Orora's financial performance and prospects. Workplace health and safety events may have the potential to adversely affect Orora's personnel and operations. Orora could be liable for any injuries or accidents which occur to its personnel under the occupational health and safety laws of the jurisdictions in which it operates, which could result in legal claims, potential delays or stoppage and any other actions that could have a material adverse impact on Orora's reputation, liquidity and financial performance. Any significant occupational health and safety issues that arise, including company officer prosecutions, may negatively affect Orora's future financial performance, prospects and reputation Orora's growth opportunities are dependent, in part, on disciplined selection and successful integration of acquisition targets that are consistent with the group's strategy. Failure to be disciplined in selection, effective at integration or focused on capturing value could impact operations and have adverse consequences for the achievement of expected financial benefits. A significant proportion of Orora's revenues, costs and expenses are incurred in foreign currencies, whereas Orora reports in Australian dollars. As a result of the use of these various currencies, Orora is subject to foreign currency fluctuations, which may materially affect its financial position and operating results. Orora is increasing expenditure on capital works in response to increasing customer demands for its products, and an ongoing commitment to invest in the upgrade of its plant and equipment. There is a risk that the returns on these investments may vary if customer requirements materially change or there is substantial delay in the delivery of plant or equipment. Orora predominantly operates in Australia, New Zealand and the United States under a broad range of legal, accounting, tax, regulatory (including environmental) and political systems. The profitability of Orora's operations may be adversely impacted by changes in fiscal or regulatory regimes including tax policies, difficulties in interpreting or complying with the local laws of the countries in which Orora operates and reversal of current political, judicial or administrative policies, including as a result of geopolitical tensions. Orora's customers, many of which operate across a broad range of countries, are subject to regulatory risk in various jurisdictions, which may have an impact on their operations and consequently Orora's operations. 44 OR RA NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

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