Slide 1: Fiscal 2025 second quarter results
1 Fiscal 2025 second quarter results Peter Konieczny CEO Michael Casamento CFO February 4, 2025 US EST February 5, 2025 Australia EDT
Slide 2: Disclaimers
2 Disclaimers Cautionary Statement Regarding Forward-Looking Statements This document contains certain statements that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are genera
Slide 3: Disclaimers continued
3 Disclaimers continued payments for contracts and leases, contractual obligations, and any other qualifying costs related to restructuring plans; material sales and earnings from disposed or ceased operations and any associated profit or loss on sale of businesses or subsidiaries; changes in the fa
Slide 4: Safety
4 Safety Guided by our values. Always our number one priority. Sustained excellence Amcor Values Recordable-case frequency rate (per million hours worked) 11.2 Includes impact North America packaging materials of acquired industry average businesses TRIR • Industry-leading safety performance continu
Slide 5: Key messages
5 Key messages • Second quarter result in-line with expectations • Further sequential improvement in volume growth • Reaffirming full year guidance • Berry Global combination: accelerates growth; enhances earnings and cash generation
Slide 6: Amcor Vision: Packaging partner of choice
6 Amcor Vision Packaging partner of choice known for… Consistent organic Compelling value Sustainability Market leadership growth creation Partner of choice to solve The ‘go to’ packaging Established, long-term Consistent delivery of for sustainability across solutions supplier in our track record e
Slide 7: Amcor and Berry Global combination
7 Amcor and Berry Global combination Enhancing customer value proposition as a global leader in packaging solutions 1 2 3 4 Better Business with Accelerating Growth Innovation and Creating Value that greater capabilities, with highly Sustainability matters broader scale, complementary investment unl
Slide 8: Amcor and Berry Global combination: compelling financial profile
8 Amcor and Berry Global combination $650 million of synergies1 $3+ billion of Over 35% adj. cash EPS Compelling financial and additional $280 million annual cash flow2 available to accretion3 and double-digit profile with enhanced of one-time cash benefits reinvest in the business plus Return On In
Slide 9: Amcor and Berry Global combination on track
9 Amcor and Berry Global combination on track Substantial progress towards closing middle of calendar 2025 Shareholder • Definitive joint proxy statement filed with SEC on January 23, 2025 documentation Regulatory • Initial submissions made in nearly all required jurisdictions and progressing approv
Slide 10: Second quarter results in line with expectations
10 Second quarter results in line with expectations Further sequential improvement in year over year volumes and solid earnings growth • 2Q volumes up 2.3% vs last year Net Sales EBIT EPS • Improvement of 0.7% on 1Q25 volume growth 2Q25 2Q25 2Q25 • Excluding expected destocking in healthcare and 0.4
Slide 11: Flexibles segment
11 Flexibles segment Net Sales and volume growth, price/mix headwind abating and strong cost performance December quarter highlights $m 2Q24 2Q25 CCC ∆ • Net sales up 1%; Volumes up 3% • As expected, destocking continued in healthcare but abated; Net sales 2,481 2,511 +1% price/mix headwind improved
Slide 12: Rigid Packaging segment
12 Rigid Packaging segment Strong EBIT growth driven by favorable cost performance and improved volumes December quarter highlights $m 2Q24 2Q25 CCC ∆ • Net sales down 1%; Volumes up ~1%; • North America beverage volumes down MSD largely reflecting Net sales 770 730 -1% expected soft consumer and cu
Slide 13: Cash flow and balance sheet
13 Cash flow and balance sheet Reaffirming full year free cash flow guidance and leverage expectations Cash flow ($ million) 1H24 1H25 Highlights: Adjusted EBITDA 913 919 • 2Q25 Adjusted Free Cash Flow of $358 million, $79 million higher than prior year Interest and tax payments, net (265) (254) • N
Slide 14: Fiscal 2025 guidance reaffirmed
14 Fiscal 2025 guidance reaffirmed For the year ended June 30, 2025, the Company continues to expect • Adjusted EPS of approximately 72 to 76 cents per share which represents comparable constant currency growth of 3% to 8% (includes approximately 4% headwind related to normalization of incentive com
Slide 15: Appendix slides
15 Appendix slides Supplementary schedules and reconciliations
Slide 16: FX translation impact
16 FX translation impact 1H25 currency impact Combined Net income currency exposures(1) Total currency impact $ million Adjusted EBIT (11) Adjusted Net income (9) EUR 20-30% EUR:USD Euro stronger vs USD, Average 1H25 USD million impact USD to EUR rate 1H25 0.9238 vs on Adjusted Net income 1H24 0.924
Slide 17: Amcor and Berry combination: uplift in Shareholder Value Creation Model
17 Amcor and Berry combination will deliver significant uplift in long-term Amcor new model Shareholder Value Creation Model Annual cash flow1 Capital expenditure EPS growth Amcor current model $3+ bn $1+ bn ~10-15% Accelerated Annual Capital EPS cash flow expenditure growth growth platform ~$1.5bn
Slide 18: Reconciliations of non-GAAP financial measures
18 Reconciliations of non-GAAP financial measures
Slide 19: Reconciliations of non-GAAP financial measures
19 Reconciliations of non-GAAP financial measures
Slide 20: Reconciliations of non-GAAP financial measures
20 Reconciliations of non-GAAP financial measures
Slide 21: Reconciliations of non-GAAP financial measures
21 Reconciliations of non-GAAP financial measures
Slide 22: Reconciliations of non-GAAP financial measures
22 Reconciliations of non-GAAP financial measures