Investor Presentaiton

Details of the Equity Raising Offer structure and size Offer price Record date • • • Fully underwritten Equity Raising of approximately $1,345 million comprising: $450 million institutional placement ("Placement"); and $895 million 1-for-2.55 accelerated non-renounceable pro rata entitlement offer ("Entitlement Offer") Approximately 498 million new fully paid ordinary shares in ORA ("New Shares") to be issued, representing 59% of existing shares on issue All shares under the Placement and Entitlement Offer will be issued at A$2.70 per New Security ("Offer Price"), representing: 14.5% discount to Dividend Adjusted TERP(1) - 21.3% discount to A$3.43, based on the last close of Orora shares as at Friday, 25 August 2023 adjusted for the A$0.09 final dividend (2) Thursday, 7 September 2023 at 7.00 pm (Sydney Time) Institutional Entitlement Offer and Placement Retail Entitlement Offer(3) Ranking Underwriting • • Placement and Institutional Entitlement Offer to be conducted by way of bookbuild process that will open on Tuesday, 5 September 2023 and close on Wednesday, 6 September 2023 The Retail Entitlement Offer will open at 9.00 am (Sydney Time) on Tuesday, 12 September 2023 and close at 5.00 pm (Sydney Time) on Monday 25 September 2023 Under the Retail Entitlement Offer, Eligible Retail Shareholders that take up their full Entitlement may also apply for additional New Shares in excess of their Entitlement, up to a maximum of 50% of their Entitlement at the Offer Price ("Additional Shares") • All New Shares issued under the Equity Raising will rank pari passu with existing shares on issue • The Equity Raising is fully underwritten 32 OR RA Notes: (1) Dividend Adjusted TERP based on a share price of A$3.43 representing the last close of Orora shares of A$3.52 as at Friday, 25 August 2023, adjusted for the A$0.09 final dividend with a record date of 4 September 2023. TERP includes shares issued under the Placement, Institutional Entitlement Offer and the Retail Entitlement Offer. TERP is a theoretical calculation only and the actual price at which Orora shares trade immediately following the ex-date for the Entitlement Offer may be different from TERP. (2) Based on the last close of Orora shares of A$3.52 as at Friday, 25 August 2023. Orora's shares traded on an ex-dividend basis from 4 September 2023. (3) Only retail shareholders with a registered address in Australia or New Zealand will be eligible to participate in the Retail Entitlement Offer. NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

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