Investor Presentaiton

Transaction summary Transaction details • Overview of Saverglass . Orora Ltd (ASX:ORA) ("Orora") has entered into arrangements to acquire 100% of Saverglass SAS ("Saverglass") through the acquisition of all of the shares of Olympe SAS (1) for an enterprise value of €1,290m (A$2,156m) (2) (the "Acquisition") The Acquisition represents an implied multiple of: - - 7.7x Adjusted EBITDA of Saverglass for the last 12 months (LTM) to 30 June 2023 (Jun-23) of €168m (3) (excluding any pro forma synergies) 7.3x Adjusted EBITDA of Saverglass for the LTM Jun-23 inclusive of expected full run-rate synergies of A$15m Saverglass is a global leader in the design, manufacturing, customisation and decoration of high-end bottles for the premium and ultra-premium spirit and wine markets Extensive manufacturing footprint with specialised assets and technical capabilities across six sites in Europe, Mexico and the UAE, strategically located in close proximity to key global production regions and customers Strong financial profile with LTM Jun-23 revenue of €739m and Adjusted EBITDA of €168m (3), historic revenue and Adjusted EBITDA CAGR of +16% since CY19 • • Over 50 years of craftsmanship and specialty manufacturing expertise, supporting a loyal and committed customer base of luxury brands Robust ESG profile with progressive decarbonisation strategy roadmap 1. 2. 4. 5. 6. Unique acquisition of a global market leader, extending and enhancing Orora's core competencies in premium sustainable value-added beverage packaging Well-positioned to benefit from ongoing growth trends in premium spirits and wine, enhancing Orora's embedded organic growth outlook Unlocks significant value creation opportunities for the Combined Group, leveraging complementary operational footprint, sustainability practices and customer network Creates a global, diversified packaging player of scale with a strengthened platform and multiple growth pathways Highly capable management team, with significant experience in managing a global network of glass manufacturing sites Acquisition of a well-invested, established business model with a historically consistent long-term growth profile and robust financial performance Investment highlights 3. 8 Notes: (1) Orora and the vendors of Olympe SAS have entered into a Put Option Agreement which provides the vendors the option to sell the shares in Olympe SAS (whether directly or indirectly through the sale of certain upstream management companies holding shares in Olympe SAS) to Orora. The Put Option Agreement attaches an agreed form Share Purchase Agreement to be entered into by the parties following completion of certain mandatory works council consultation processes in order to comply with French labour laws, and upon the vendors exercising the put option. The put option cannot be exercised, and the parties cannot enter into a binding Share Purchase Agreement in order to implement the Acquisition, until these works council consultation processes have been completed, which usually takes a few months. (2) Acquisition price on a debt free, cash free basis, subject to working capital and net debt adjustments. Converted to AUD at EUR/AUD exchange ratio of 1.67. (3) Reflects LTM to Jun-23 Adjusted EBITDA, shown on a pre AASB-16 (Leases) basis as per French GAAP reporting standards. OR RA NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

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