Slide 1: Financial Results
Financial Financial Results Results Year ended 30 June 2025 Six months ended 31 December 2025 12 February 2026 14 August 2025
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: 1H26 highlights, operational progress and Saverglass priorities
1H26 highlights, operational progress and Saverglass priorities Brian Lowe Managing Director & Chief Executive Officer
Slide 4: Key 1H26 messages
Key 1H26 messages 1 2 3 4 Robust Group Strong Cans volume Saverglass volume Strong balance sheet operating result – growth +11.2% growth +2.6%, (0.9x leverage) strong operating Gawler volume enables shareholder Cashflow slightly down distributions Completion of 2025 calendar year buy back of ~$227.4
Slide 5: 1H26 financial highlights
1H26 financial highlights 1 Robust operating result underpinned by disciplined execution Earnings Before Interest, Tax and Earnings Before1 Interest Underlying Net Profit Depreciation and Amortisation and Tax (EBIT) After Tax (NPAT) (EBITDA) $218.2m $131.1m $77.8m +$27.6m or 14.4% +$10.3m or 8.5% +$
Slide 6: 1H26 operational progress – focused on disciplined execution
1H26 operational progress – focused on disciplined execution Market dynamics vary across Orora’s business segments Cans Saverglass Gawler Revenue EBITDA EBIT Revenue EBITDA EBIT Revenue EBITDA EBIT A$442.1m A$60.7m A$51.6m €298.0m €69.1m €34.9m A$154.8m A$34.5m A$17.4m up 18.6% reported up 8.1% repo
Slide 7: Saverglass Priorities
Saverglass Priorities Clear priorities focused on enabling new business growth Maximise Revenues and Margins Maximise Cost Efficiency and Cash Accelerate new business pipeline Inventory management Time to market for NPD Reduction in SG&A Pricing transformation Operational Efficiency Saverglass Busin
Slide 8: Saverglass orders and inventory
Saverglass orders and inventory Solid increase in orders for first 7 month of FY26, with total inventory stable and customer owned inventory down Order intake Average monthly orders increased Inventory Customer owned inventory down 18% in the 7-months YTD Jan 26 18% from 1H25 +18% • Improved order i
Slide 9: Rocklea update
Rocklea update Construction of a new 375ml Cans line within the existing Rocklea Cans site in Queensland Project is progressing as planned, with completion by end of FY26 Commissioning expected during 1H27, adding +13% network capacity over time On schedule, with ~$100m spend to date, with ~$40m rem
Slide 10: Safety and Sustainability Update
Safety and Sustainability Update Brian Lowe Managing Director & Chief Executive Officer
Slide 11: Safety Update
Safety Update Ongoing focus on safety culture, governance and practices delivers solid performance Lost time injury frequency rate (LTIFR)* Update on our approach to improving safety • We recorded no Serious Injuries or Fatalities (SIF) • RCFR continues to decline, with fewer recordable injuries ove
Slide 12: Sustainability update
Sustainability update Continued progress toward sustainability goals, aligned to customer expectations Circular Economy Climate Change Community FY26 progress FY26 progress • We continue to make progress towards our • Solid safety performance with Recordable • Glass - we continue to make progress em
Slide 13: Financial Results
Financial Results Shaun Hughes Chief Financial Officer
Slide 14: 1H26 Group financial performance
1H26 Group financial performance Underlying – continuing ($m) 1H26 1H25 Var$ Var% CC% Revenue 1,127.6 1,028.3 99.3 9.7% 6.2% Underlying results (continuing operations excluding OPS & Closures) EBITDA 218.2 190.6 27.6 14.4% 10.0% • Revenue growth of 9.7% primarily driven by strong growth in Cans Depr
Slide 15: 1H26 Orora Cans financial highlights
1H26 Orora Cans financial highlights Revenue EBITDA Business performance $442.1m $60.7m • Revenue reflects 11.2% volume growth vs 1H25, improved mix and higher aluminium prices $69.3m or 18.6% increase $4.6m or 8.1% increase • Revenue excluding pass-through aluminium prices increased 15.0% 15.0% exc
Slide 16: 1H26 Saverglass financial highlights
1H26 Saverglass financial highlights1 Revenue EBITDA Business performance1 €298.0m €69.1m • Volume growth of 2.6%, with spirits mix growing vs 1H25, driven primarily by tequila and vodka categories A$530.7m A$123.0m • Revenue down 2.6% to €298.0m, reflects both mix impacts, and €8.0m or 2.6% decreas
Slide 17: 1H26 Gawler Glass financial highlights
1H26 Gawler Glass financial highlights Revenue EBITDA Business performance $154.8m $34.5m • Revenue broadly in line with 1H25, up $0.5m with contracted price increases offsetting a ~1.7% decline in volumes, largely driven by a $0.5m or 0.3% increase $12.1m or 54.0% increase decline in beer and wine
Slide 18: Operating cash flow
Operating cash flow $m 1H26 1H25 Var% EBITDA 218.2 190.6 14.4% • Underlying operating cash flow of $189.7 was 50.9% higher than 1H25, driven by higher cash EBITDA and lower base capex Lease payments (14.2) (13.0) • The movement in working capital was up slightly to $26.8m, reflecting Non-cash items
Slide 19: Group capex spend
Group capex spend Free cash flow to be significantly higher in FY26 and FY27 with lower growth capex spend Capex ($m)1 Key projects under construction Some growth capex is 263 expected to support Project HY26 2H26 FY27+ Total 229 investment in automation, 59 new customer moulds, and Spend spend spen
Slide 20: Balance sheet and net debt
Balance sheet and net debt Balance sheet provides operating and strategic flexibility to support Orora’s growth strategy and shareholder returns Balance sheet Net debt and leverage ratio $m Dec-25 Jun-25 Net debt 386.5 254.2 Net assets 2,771.8 2,896.6 Leverage1 0.9x 0.7x Interest cover2 11.0x 6.4x U
Slide 21: Shareholder returns
Shareholder returns Significant balance sheet capacity available for ongoing capital management Interim dividend of 5.0 cents per share (unfranked), represents a Cents per share 5.0 cps $61.7m gross dividend The interim dividend payout ratio of 79% sits within the target payout 79% payout ratio rang
Slide 22: FY26 Perspectives and Outlook
FY26 Perspectives and Outlook Brian Lowe Managing Director & Chief Executive Officer
Slide 23: Perspectives for FY26 and beyond
Perspectives for FY26 and beyond Disciplined execution of our strategy and completion of Cans growth investment cycle deliver strong cash flow growth from FY26 Orora Cans Global Glass – Saverglass Global Glass – Gawler • Volume growth expected to be consistent with • Global spirits & wine volumes re
Slide 24: FY26 outlook
FY26 outlook Orora Cans Saverglass Gawler EBIT expected to be higher than EBIT (€) expected to be broadly in EBIT expected to be ~$30m FY25 line compared to FY25 • Operational benefits from • Volume growth expected to • Volume growth and cost transition to two-furnace be consistent with long term re
Slide 25: Financial Results
Financial Results Year ended 30 June 2025 14 August 2025
Slide 26: Supporting Information
Supporting Information
Slide 27: Orora investor proposition
Orora investor proposition Orora provides investors with defensive growth exposure, a well-invested asset base and strong balance sheet to support ongoing shareholder returns Addressing investor priorities Key metrics / targets Focused value-added >15% Well invested assets to Disciplined approach Ta
Slide 28: Defensive growth exposure through Cans and Glass
STRATEGY UPDATE Defensive growth exposure through Cans and Glass Cans Saverglass Gawler • • • Market size1 ~$1.2bn1 ~$21bn2 ~$700m1 Volume growth ~4 – 6%1 ~3 – 6%1 ~Flat3 Market trends ✓ Shift to aluminum ✓ Premiumisation ✓ Category growth ✓ Brand proliferation Lower commercial wine consumption ✓
Slide 29: Key financial priorities
CAPITAL ALLOCATION Key financial priorities Ongoing focus on capital allocation to deliver strong cash realisation, maintain investment grade credit metrics, and maximise shareholder returns Deliver strong operating cash Strict capital allocation / realisation with disciplined investment approach wo
Slide 30: Statutory to underlying reconciliations
Statutory to underlying reconciliations Statutory to underlying results 1H26 1H25 ($m) EBIT PBT NPAT EBIT PBT NPAT Continuing Operations Statutory result 105.6 78.9 58.9 37.1 (11.8) 0.2 Add significant items: - Gawler production capacity review - - - 83.7 83.7 58.6 - Le Havre Closure Costs 6.9 6.9 5
Slide 31: Liquidity and debt maturity profile
Liquidity and debt maturity profile Debt Maturity and Liquidity Profile ($m) As at 31 December 2025 720 410 284 720 305 220 158 284 305 158 190 Cash on hand FY26 FY27 FY28 FY29 FY30 FY31 Drawn amount Committed and available facilities 31
Slide 32: Peter Kopanidis
Peter Kopanidis General Manager Investor Relations +61 456 420 356 peter.kopanidis@ororagroup.com ASX: ORA