Slide 1: Ball Corporation Overview
Ball Corporation Overview Scott C. Morrison Senior Vice President and CFO Jefferies 2015 Industrials Conference New York, New York August 13, 2015 1 ©| B©aBllACLLorCpOoRraPtOioRnAT|IO1N0 L| oBnAgLsLP.CeOaMk Drive | Broomfield, Colorado 80021 | 303-469-3131 | www.ball.com
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains “forward-looking” statements concerning future events and financial performance. Words such as “expects,” “anticipates,” “estimates” and similar expressions identify forward-looking statements. Such statements are subject to risks and uncertainti
Slide 3: Important Information
Important Information This document is provided for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell, shares of Ball Corporation ("Ball") or Rexam Plc ("Rexam"). Further to the announcement released by Ball Acquisition Limited on February 19, 201
Slide 4: Important Information: Disclosure requirements of the UK Takeover Code
Important Information Disclosure requirements of the UK Takeover Code Rexam is a company subject to the jurisdiction of the UK Takeover Code (the “Code”) Under Rule 8.3(a) of the Code, any person who is interested in 1 per cent. or more of any class of relevant securities of an offeree company or of
Slide 5: Key Performance Drivers Going Forward
Key Performance Drivers Going Forward • Leverage Existing Business Portfolio and Diverse Customer Base • • Drive for 10 Vision Maintain Disciplined Financial Strategy • Utilize Free Cash Flow to Create Value • Execute on Growth Capital Projects • Continue Progress on Proposed M&A • Generate EVA$ Ove
Slide 6: Leverage Ball Corporation Portfolio
Leverage Ball Corporation Portfolio 9% 11% 15% $1 billion 17% Comparable Segment Earnings* 76% $8.6 billion Net Sales 72% Global Metal Beverage Global Metal Food & Household Aerospace Year-end 2014; *excludes corporate undistributed costs. 6 | © BALL CORPORATION | BALL.COM
Slide 7: Businesses Serve Diverse Customer Base
Businesses Serve Gjohnson Diverse Customer Base 5MillerCoors.. A FAMILY COMPANY aAbbott Good Food. Good Life · -t? Constellation Brands • P&G 7 I © BALL CORPORATION I BALL.COM These logos may be registered trademarks of their respective owners. Heinekeri Bavaria
Slide 8: Ball Aerospace & Technologies Corp.
Ball Aerospace & Technologies Corp. Oldest continuing business; trusted supplier of aerospace technologies and services Leverages existing technology to image the Earth, predict weather, peer into deep space, develop tactical antennae and build systems to support national security Low invested c
Slide 9: Drive for 10 Strategy
Drive for 10 Strategy We Know Where We Are Going We want to be the best at everything we do, and will continually strive for perfection at Ball as we pursue our strategy of: 9 | © BALL CORPORATION | BALL.COM Leveraging Broadening Aligning Expanding Maximizing
Slide 10: Long-Standing Financial Strategy
Long-Standing Financial Strategy 10 I @BALL CORPORATION I BALL.COM
Slide 11: Strong Cash Flow Fuels Value Creation
Strong Cash Flow Fuels Value Creation 2014 $622MM 2013 $461MM 2012 $548MM 2011 $505MM 2010 $506MM 2009 $373MM 2008 $321MM 2007 $440MM 2006 $183MM *Free Cash Flow defined as cash flow from operations minus capital expenditures. 2005 $267MM 2004 $340MM 11 | © BALL CORPORATION | BALL.COM Over $4.5 Bill
Slide 12: Disciplined Growth Capital and M&A Generate EVA$ Over Time
Disciplined Growth Capital and M&A Generate EVA$ Over Time Projected Start-Up Capital Project Location 1st Half 2015 Next Generation Shaped Aluminum Bottle Conroe, Texas Specialty Beverage Can Line Oss, The Netherlands Mid 2Q 2015 Beverage Can End Module Installation Lublin, Poland Mid 2Q 2015 2nd H
Slide 13: Proposed Offer for Rexam PLC Overview
Proposed Offer for Rexam PLC Overview • Complementary global plant network and customer base • Revenue: ~$15 billion • Adjusted EBITDA: $2.4 billion* • Strong cultural compatibility • Addresses evolving packaging industry dynamics • Annual run-rate synergies: ~$300 million • Relevant positions in ke
Slide 14: Anticipated Timeline
Anticipated Timeline* (EC) (FTC) Filing (Brazil) HSR Second Request (FTC) Ball Shareholder Vote Outcome 99.23% “For” *Estimated timeline; actual schedule dependent on regulatory approvals and closing of transaction. Company not precluded from share repurchases during the period of 2015 – 2017; execu
Slide 15: EVA$ Improvement Drives Share Price Higher
EVA$ Improvement Drives Share Price Higher $80 $450 $400 $70 $350 $60 $300 $50 $250 $40 $200 $30 $150 $20 $100 $10 $50 $0 $0 = Share Price = $ EVA® in excess of our cost of capital 15 | © BALL CORPORATION | BALL.COM Stock Price 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 20
Slide 16: Key Performance Drivers Going Forward
Key Performance Drivers Going Forward • Leverage Existing Business Portfolio and Diverse Customer Base • • Drive for 10 Vision Maintain Disciplined Financial Strategy • Utilize Free Cash Flow to Create Value • Execute on Growth Capital Projects • Continue Progress on Proposed M&A • Generate EVA$ Ove
Slide 17: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation 17©|B©alBl ACLoLrpCoOrRatPioOnRA|T1IO0NLo| nBgAsLPL.eCaOkMDrive | Broomfield, Colorado 80021 | 303-469-3131 | www.ball.com
Slide 18: Non-GAAP Financial Measure
Non-GAAP Financial Measure Twelve Months Ended 12/31/14 ($ in millions, except ratios) Net earnings before taxes, as reported Add: Total interest expense $ 645.6 193.0 Earnings before interest and taxes (EBIT) Add: Business consolidation and other activities Add: Undistributed corporate expenses and
Slide 19: Non-GAAP Financial Measure
Non-GAAP Financial Measure $853 $839 Cash flow from operating activities $536 $559 $401 $673 $628 $560 $515 $948 $1,013 (305) (378) (391) Capital spending (196) (292) (280) (309) (307) (187) (250) (444) Proceeds for replacement of fire-damaged assets 61 49 Incremental pension funding, net of tax 27