Slide 1: Financial Results Full Year Ended 30 June 2022
Financial Results Full Year Ended 30 June 2022 18 August 2022
Slide 2: Important information
Important information Forward Looking Statements This presentation contains forward looking statements that involve subjective judgment and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to Orora. Forward look
Slide 3: FY22 Highlights and Group Strategy
FY22 Highlights and Group Strategy Brian Lowe Managing Director & Chief Executive Officer 3
Slide 4: FY22 financial highlights
FY22 financial highlights Underlying Earnings Before Underlying Net Profit After • Disciplined execution of strategy delivers a Revenue Interest and Tax (EBIT) Tax (NPAT) strong increase in earnings, with underlying $4,090.8m $285.5m $187.1m EBIT and NPAT up 14.6% and 19.4%, respectively • Earnings
Slide 5: FY22 operating and segment highlights
FY22 operating and segment highlights Strong revenue and earnings growth in North America with a robust earnings performance in Australasia Australasia North America Revenue EBIT Revenue (USD) EBIT (USD) up 9.0% up 0.2% up 14.3% up 32.6% Revenue growth of 1.5% excluding Inflationary pressures well m
Slide 6: Orora safety performance update
Lost time injury frequency rate (LTIFR)* Recordable case frequency rate (RCFR)^ Orora safety performance 2.5 7.2 update 2.0 6.8 June 2021 June 2022 June 2021 June 2022 LTIFR* = (Number of lost time injuries / Total number of hours worked for employees and contractors) x 1,000,000 RCFR^ = (Number of
Slide 7: We are One Orora
We are One Orora Our Purpose To be a leading sustainable packaging solutions provider, designing and delivering products and services that enable our customers’ brands to thrive Our Identity We operate a portfolio of customer-focused packaging businesses aligned by our common purpose and unifying pr
Slide 8: Long-term performance
Revenue ($m) Underlying NPAT ($m) Fibre Fibre Sale & Sale & 4,761.5 rebase rebase 4,248.0 217.0 4,039.1 4,090.8 208.6 3,566.2 186.2 187.1 3,538.0 Long-term 2,456.0 156.7 2,150.2 103.3 2,063.7 2,102.2 102.9 127.7 84.4 1,731.0 1,723.9 94.1 65.6 performance 51.1 2,097.8 2,305.5 105.7 113.7 1,975.4 1,83
Slide 9: Compelling investment proposition
Compelling investment proposition Orora provides investors with a robust and defensive earnings profile in Australasia with attractive growth upside in North America Leadership Robust and Well invested Long term positions in diversified assets and customer trading attractive business model defensive
Slide 10: Delivering an attractive growth outlook
Delivering an attractive growth outlook Each business has a clear set of strategic priorities aligned to our strategic pillars. Collectively these position Orora to deliver Shareholders with consistent, above-market, long-term growth Enter new segments – Enhance and expand – mid‐term targets Optimis
Slide 11: Progressing our strategy
Progressing our strategy Disciplined execution of our strategy to drive sustainable earnings growth Australasia – FY22 Progress North America – FY22 Progress • Extension of long-term contracts for key Cans and Glass customers • Continued improvement in OPS financial performance and operating discipl
Slide 12: Financial Results
Update Picture Financial Results Shaun Hughes Chief Financial Officer 12
Slide 13: FY22 Group Financial Performance
FY22 Group Financial Performance Underlying ($m) FY22 FY21 Var$ Var% CC% • Revenue up 15.6%, driven by a 17.7% increase in North Revenue 4,090.8 3,538.0 552.8 15.6% 13.0% America and a 9.0% increase in Australasia EBITDA 403.4 369.3 34.1 9.2% 7.5% • North American revenue increased by 14.3% on a con
Slide 14: FY22 Australasia financial highlights
FY22 Australasia financial highlights Business Performance Revenue EBIT • Revenue increased $75.0m (9.0%), primarily due to higher aluminium costs passed $909.1m $150.6m through to customers. Excluding aluminium pass-through, revenue was up 1.5% • Following significant Cans volume growth in FY21 (9.
Slide 15: FY22 North America financial highlights
FY22 North America financial highlights Revenue (USD) EBIT (USD) Business performance $2,308.3m $97.9m • Significant earnings growth in North America, with EBIT up 32.6%, on the back of strong revenue growth, up 14.3%, and margin improvement • 15.1% revenue growth for OPS, primarily attributable to
Slide 16: Operating cash flow
Operating cash flow $m FY22 FY21 Var$ Var% • Underlying operating cash flow of $272.6m exceeded last year by EBITDA 403.4 369.3 34.1 9.2% $26.6m driven by earnings growth and continued working capital management, partially offset by higher base capex Lease payments (59.1) (59.4) 0.3 • Cash EBITDA in
Slide 17: Group capex profile
Group capex profile Continued investment in capex to support strong end-market customer demand and sustainability initiatives Base and Growth capex ($m) Significant capex projects Continuing operations 116.2 Capital 92.2 90.3 Initiative Type Purpose Period 42.1 87.2 Spend 70.2 5.0 26.9 Glass - Culle
Slide 18: Balance sheet and net debt
Balance sheet and net debt Strong balance sheet providing operating and strategic flexibility to support Orora’s growth strategy Balance sheet Net debt and leverage ratio 1.9x 1.8x $m FY22 FY21 1.6x 1.5x 1.5x Average funds employed 1,275.6 1,250.5 890 Net debt 629.0 452.9 0.9x 674 660 629 Net assets
Slide 19: FY22 Dividend
FY22 Dividend 17.9% dividend growth reflects strong earnings performance FY22 final dividend Total FY22 dividends Ordinary dividends per share (cps) 8.5 cps 16.5 cps 1 6 .5 1 4 .0 1 3 .0 1 2 .5 1 2 .0 +1.0 cps +2.5 cps 1 1 .0 8.5 13.3% increase 17.9% increase 6.5 7.5 6.5 5.5 6.0 Payout ratio 76.2% 8
Slide 20: Sustainability Update
Sustainability Update Brian Lowe Managing Director & Chief Executive Officer 20
Slide 21: Sustainability goals
Sustainability goals Net zero emissions2 60% recycled content1 Prioritising action for our by 2050 for Glass beverage people and our 40% reduction in emissions2 containers by 2025 community by 2035 21 1. Pre and post-consumer 2. Scope 1 and 2 from FY19 baseline
Slide 22: FY22 sustainability performance highlights
FY22 sustainability performance highlights We continue to invest and make good progress with our sustainability goals and commitments • 38% average recycled content in glass containers produced, up from 31% in the prior year • Cullet Beneficiation Plant construction completed, with full commissionin
Slide 23: Progress on sustainability
Climate Change – GHG Reduction Progress1 Climate Change – GHG Reduction Progress1 Market-based Factors (Ktonnes CO2e) Location-based Factors (Ktonnes CO2e) 4.1% reduction 8.3% reduction 445 427 427 411 383 362 349 351 180 174 178 166 117 104 109 101 Progress on 266 245 253 249 266 245 253 249 sustai
Slide 24: FY23 Perspectives and Outlook
FY23 Perspectives and Outlook Brian Lowe Managing Director & Chief Executive Officer 24
Slide 25: Perspectives for FY23
Perspectives for FY23 Disciplined execution of our strategy to drive sustainable earnings growth Australasia North America • Expected growth in Cans and Glass driven by volume growth and product mix • Build on operating and earnings momentum in OPS and OV to drive further optimisation1 earnings, cos
Slide 26: FY23 outlook
FY23 outlook • The Orora Group earnings are expected to be higher in FY23, reflecting the resilience of the business in what is expected to be a challenging year of economic conditions • In Australasia, EBIT is expected to be broadly in line with FY22, with 1H23 impacted by inflationary cost increas
Slide 27: Supporting Information
oO* re —~—T Supporting Information C
Slide 28: Shareholder value blueprint
Shareholder value blueprint Orora applies a returns-focussed, risk-weighted approach to investment and capital management decisions TSR COMPONENT ORGANIC GROWTH RETURNS-FOCUSED INVESTMENT CAPITAL MANAGEMENT STRATEGIC Enhance and Enter new Optimise to Grow Disciplined approach to capital allocation P
Slide 29: Statutory to underlying reconciliations
Statutory to underlying reconciliations Statutory to underlying results FY22 FY21 ($m) EBIT PBT NPAT EBIT PBT NPAT Statutory result 285.5 258.8 184.7 210.5 177.7 135.8 Add significant items: - Continuing operations – decommissioning costs - - - 38.6 38.6 27.0 - Discontinued operations – net (profit)