Report of Independent Registered Public Accounting Firm To the Board of Directors and Shareholders of Amcor plc Opinions on the Financial Statements and Internal Control over Financial Reporting We have audited the accompanying consolidated balance sheets of Amcor plc and its subsidiaries (the “Company”) as of June 30, 2026 and 2025, and the related consolidated statements of income, of comprehensive income, of equity and of cash flows for each of the three years in the period ended June 30, 2026, including the related notes and schedule of valuation and qualifying accounts and reserves for each of the three years in the period ended June 30, 2026 appearing under Item 15(a)(2) (collectively referred to as the “consolidated financial statements”). We also have audited the Company's internal control over financial reporting as of June 30, 2026, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of June 30, 2026 and 2025, and the results of its operations and its cash flows for each of the three years in the period ended June 30, 2026 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of June 30, 2026, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO. Basis for Opinions The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in Management’s Report on Internal Control Over Financial Reporting appearing under Item 9A. Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions. Definition and Limitations of Internal Control over Financial Reporting A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements. 51 Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Critical Audit Matters The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates. Goodwill Impairment Assessment – Global Rigid Packaging Solutions Reporting Unit As described in Notes 2 and 10 to the consolidated financial statements, the Company’s goodwill balance was $12,075 million as of June 30, 2026, of which $6,056 million was associated with the Global Rigid Packaging Solutions reporting unit. Management conducts an impairment test as of April 1 of each fiscal year or whenever events and circumstances indicate an impairment may have occurred during the financial year. Management’s quantitative assessment utilizes discounted cash flow models to determine the fair value of the reporting unit. As disclosed by management, if the carrying value of a reporting unit exceeds its fair value, management would recognize an impairment loss equal to the difference between the carrying value and the estimated fair value of the reporting unit, adjusted for any tax benefits, limited to the amount of the carrying value of goodwill. Management’s projected future cash flows for the Global Rigid Packaging Solutions reporting unit included key assumptions relating to the discount rate, market multiple and revenue growth. The principal considerations for our determination that performing procedures relating to the goodwill impairment assessment of the Global Rigid Packaging Solutions reporting unit is a critical audit matter are (i) the significant judgment by management when developing the fair value estimate of the Global Rigid Packaging Solutions reporting unit; (ii) a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management’s significant assumptions related to the discount rate, market multiple, and revenue growth; and (iii) the audit effort involved the use of professionals with specialized skill and knowledge. Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to management’s goodwill impairment assessment, including controls over the valuation of the Global Rigid Packaging Solutions reporting unit. These procedures also included, among others (i) testing management’s process for developing the fair value estimate of the reporting unit; (ii) evaluating the appropriateness of the discounted cash flow models used by management; (iii) testing the completeness and accuracy of underlying data used in the discounted cash flow models; and (iv) evaluating the reasonableness of the significant assumptions used by management related to the discount rate, market multiple and revenue growth. Evaluating management’s assumptions related to the discount rate, market multiple and revenue growth involved evaluating whether the assumptions used by management were reasonable considering (i) the current and past performance of the Global Rigid Packaging Solutions reporting unit; (ii) the consistency with external market and industry data; and (iii) whether the assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were used to assist in evaluating (i) the appropriateness of the discounted cash flow models, (ii) the reasonableness of the discount rate assumption, and (iii) the appropriateness of the comparative companies as well as the market multiple considered. /s/ PricewaterhouseCoopers AG Zurich, Switzerland August 14, 2026 We have served as the Company's auditor since 2019. 52 Amcor plc and Subsidiaries Consolidated Statements of Income ($ in millions, except per share data) For the years ended June 30, 2026 2025 2024 Net sales $ 23,506 $ 15,009 $ 13,640 Cost of sales (18,816) (12,175) (10,928) Gross profit 4,690 2,834 2,712 Selling, general, and administrative expenses (1,931) (1,205) (1,093) Amortization of acquired intangible assets (558) (246) (167) Research and development expenses (170) (120) (106) Restructuring, transaction and integration expenses, net (298) (307) (97) Other income/(expenses), net 166 53 (35) Operating income 1,899 1,009 1,214 Interest income 66 49 38 Interest expense (676) (396) (348) Other non-operating income/(expenses), net (7) (12) 3 Income before income taxes and equity in income/(loss) of affiliated companies 1,282 650 907 Income tax expense (181) (135) (163) Equity in income/(loss) of affiliated companies, net of tax 5 3 (4) Net income $ 1,106 $ 518 $ 740 Net income attributable to non-controlling interests — (7) (10) Net income attributable to Amcor plc $ 1,106 $ 511 $ 730 Basic earnings per share $ 2.39 $ 1.60 $ 2.53 Diluted earnings per share $ 2.38 $ 1.60 $ 2.52 All prior periods presented have been retroactively adjusted to reflect the 1-for-5 reverse stock split effected on January 14, 2026. See Note 2, "Significant Accounting Policies" for further information. See accompanying notes to consolidated financial statements. 53 Amcor plc and Subsidiaries Consolidated Statements of Comprehensive Income ($ in millions) For the years ended June 30, 2026 2025 2024 Net income $ 1,106 $ 518 $ 740 Other comprehensive income/(loss): Net gains on cash flow hedges, net of tax (a) 5 2 5 Foreign currency translation adjustments, net of tax (b) 64 21 (108) Net investment hedge of foreign operations, net of tax (c) 60 (60) — Excluded components of fair value hedges 4 (8) (10) Pension, net of tax (d) (1) 2 (45) Other comprehensive income/(loss) 132 (43) (158) Total comprehensive income 1,238 475 582 Comprehensive income attributable to non-controlling interests — (7) (10) Comprehensive income attributable to Amcor plc $ 1,238 $ 468 $ 572 (a) Tax expense related to cash flow hedges $ (1) $ — $ (1) (b) Tax benefit/(expense) related to foreign currency translation adjustments 3 (5) — (c) Tax benefit/(expense) related to net investment hedge of foreign operations (8) 20 — (d) Tax benefit/(expense) related to pension adjustments $ 2 $ (1) $ 12 See accompanying notes to consolidated financial statements. 54 Amcor plc and Subsidiaries Consolidated Balance Sheets ($ in millions, except share and per share data) As of June 30, 2026 2025 Assets Current assets: Cash and cash equivalents $ 1,115 $ 827 Trade receivables, net of allowance for credit losses of $48 and $34, respectively 3,639 3,426 Inventories, net Raw materials and supplies 1,531 1,394 Work in process and finished goods 2,141 2,077 Prepaid expenses and other current assets 900 710 Total current assets 9,326 8,434 Non-current assets: Property, plant, and equipment, net 7,409 8,202 Operating lease assets 1,039 1,116 Deferred tax assets 199 218 Other intangible assets, net 6,588 7,403 Goodwill 12,075 11,276 Employee benefit assets 57 60 Other non-current assets 402 357 Total non-current assets 27,769 28,632 Total assets $ 37,095 $ 37,066 Liabilities Current liabilities: Current portion of long-term debt $ 15 $ 141 Short-term debt 135 116 Trade payables 4,021 3,490 Accrued employee costs 694 619 Other current liabilities 2,570 2,621 Total current liabilities 7,435 6,987 Non-current liabilities: Long-term debt, less current portion 13,862 13,841 Operating lease liabilities 852 910 Deferred tax liabilities 2,080 2,482 Employee benefit obligations 309 352 Other non-current liabilities 756 754 Total non-current liabilities 17,859 18,339 Total liabilities $ 25,294 $ 25,326 Commitments and contingencies (See Note 20) Shareholders' Equity Amcor plc shareholders’ equity: Ordinary shares ($0.05 par value): Authorized (1,800 million shares) Issued (462.3 and 461.1 million shares, respectively) $ 23 $ 23 Additional paid-in capital 12,255 12,226 Retained earnings 459 548 Accumulated other comprehensive loss (931) (1,063) Treasury shares (0.4 and 0.1 million shares, respectively) (16) (6) Total Amcor plc shareholders' equity 11,790 11,728 Non-controlling interests 11 12 Total shareholders' equity 11,801 11,740 Total liabilities and shareholders' equity $ 37,095 $ 37,066 All prior periods presented have been retroactively adjusted to reflect the 1-for-5 reverse stock split effected on January 14, 2026. See Note 2, "Significant Accounting Policies" for further information. See accompanying notes to consolidated financial statements. 55 Amcor plc and Subsidiaries Consolidated Statements of Cash Flows ($ in millions) For the years ended June 30, 2026 2025 2024 Cash flows from operating activities: Net income $ 1,106 $ 518 $ 740 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization, and impairment 1,479 722 595 Net periodic benefit cost 31 32 12 Amortization of debt discount and deferred financing costs 48 36 10 Net gain on disposal of property, plant, and equipment (49) (7) (11) Net gain on disposal of businesses and investments (54) (8) — Equity in (income)/loss of affiliated companies (5) (3) 4 Net foreign exchange loss 5 9 27 Share-based compensation 83 74 32 Inventory step-up amortization (6) 133 — Other, net (146) 60 (37) Loss from highly inflationary accounting for Argentine subsidiaries 28 27 106 Deferred income taxes, net (96) (125) (37) Changes in operating assets and liabilities, excluding effect of acquisitions, divestitures, and currency: Trade receivables (323) (228) (43) Inventories (329) — 95 Prepaid expenses and other current assets (51) (57) (5) Trade payables 570 220 (43) Other current liabilities 16 15 (74) Accrued employee costs 3 47 8 Employee benefit obligations (78) (47) (39) Other, net (81) (28) (19) Net cash provided by operating activities 2,151 1,390 1,321 Cash flows from investing activities: Investments in affiliated companies and other — — (3) Business acquisitions (17) (1,653) (20) Purchase of property, plant, and equipment, and other intangible assets (922) (580) (492) Proceeds from divestitures, net of cash divested 272 113 — Proceeds from sale of affiliated companies and other investments 70 — — Proceeds from sales of property, plant, and equipment, and other intangible assets 73 18 39 Net cash used in investing activities (524) (2,102) (476) Cash flows from financing activities: Proceeds from exercise of options 6 15 — Purchase of treasury shares and tax withholdings for share-based incentive plans (71) (122) (51) Purchase of non-controlling interest (1) (2) — Proceeds from issuance of long-term debt 3,214 2,181 1,024 Repayment of long-term debt (2,893) (506) (16) Financing-related transaction fees — (11) — Net borrowing/(repayment) of commercial paper (389) 228 (1,041) Net borrowing/(repayment) of short-term debt 3 (16) (10) Repayment of lease liabilities (16) (12) (11) Share buyback/cancellations (1) — (30) Dividends paid (1,195) (845) (722) Net cash (used in)/provided by financing activities (1,343) 910 (857) Effect of exchange rates on cash and cash equivalents 4 41 (89) Net increase/(decrease) in cash and cash equivalents 288 239 (101) Cash and cash equivalents balance at beginning of the fiscal year 827 588 689 Cash and cash equivalents balance at end of the fiscal year $ 1,115 $ 827 $ 588 See accompanying notes to consolidated financial statements, including Note 23, "Supplemental Cash Flow Information". 56 Amcor plc and Subsidiaries Consolidated Statements of Equity ($ in millions, except per share data) Ordinary Shares Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive Loss Treasury Shares Non-controlling Interests Total Balance as of June 30, 2023 $ 14 $ 4,021 $ 865 $ (862) $ (12) $ 64 $ 4,090 Net income 730 10 740 Other comprehensive loss (158) — (158) Share buyback/cancellations — (30) (30) Dividends declared ($2.4875 per share) (716) (6) (722) Shares vested, and related tax withholdings (52) 49 (3) Net settlement of forward contracts to purchase own equity for share-based incentive plans, net of tax 48 48 Purchase of treasury shares (48) (48) Share-based compensation expense 32 32 Change in non-controlling interests — 4 4 Balance as of June 30, 2024 14 4,019 879 (1,020) (11) 72 3,953 Net income 511 7 518 Other comprehensive loss (43) — (43) Dividends declared ($2.5375 per share) (842) (3) (845) Options exercised and shares vested, and related tax withholdings (112) 52 (60) Net settlement of forward contracts to purchase own equity for share-based incentive plans, net of tax 47 47 Purchase of treasury shares (47) (47) Share-based compensation expense 74 74 Change in non-controlling interests (69) (69) Acquisition of Berry Global Group, Inc. 9 8,198 5 8,212 Balance as of June 30, 2025 23 12,226 548 (1,063) (6) 12 11,740 Net income 1,106 — 1,106 Other comprehensive income 132 — 132 Share buyback/cancellations — (1) (1) Issuance of shares for share-based awards 56 (56) — Dividends declared ($2.5875 per share) (1,195) — (1,195) Options exercised and shares vested, and related tax withholdings (111) 75 (36) Net settlement of forward contracts to purchase own equity for share-based incentive plans, net of tax 2 2 Purchase of treasury shares (29) (29) Share-based compensation expense 83 83 Change in non-controlling interests (1) (1) Balance as of June 30, 2026 $ 23 $ 12,255 $ 459 $ (931) $ (16) $ 11 $ 11,801 All prior periods presented have been retroactively adjusted to reflect the 1-for-5 reverse stock split effected on January 14, 2026. See Note 2, "Significant Accounting Policies" for further information. See accompanying notes to consolidated financial statements. 57 Amcor plc and Subsidiaries Notes to Consolidated Financial Statements Note 1 - Business Description Amcor plc ("Amcor" or the "Company") is a public limited company incorporated under the Laws of the Bailiwick of Jersey. The Company's history dates back more than 150 years, with origins in both Australia and the United States of America. On April 30, 2025, the Company completed its acquisition (the "Merger") of Berry Global Group, Inc ("Berry"). The combination of Amcor and Berry has created a global packaging leader that employs approximately 75,000 individuals and has approximately 400 manufacturing facilities in more than 40 countries. See Note 4, "Acquisitions and Divestitures" for more information on the Berry acquisition. Today, we are the global leader in developing and producing primary responsible consumer packaging and dispensing solutions across a variety of materials for nutrition, health, beauty and wellness categories. Our global product innovation and sustainability expertise enables us to solve packaging challenges around the world every day, producing a range of flexible packaging, rigid packaging, cartons and closures that are more sustainable, functional and appealing for our customers and their consumers. We are guided by our purpose of elevating customers, shaping lives and protecting the future. The Company's business activities are organized around two reportable segments, Global Flexible Packaging Solutions and Global Rigid Packaging Solutions. The Company has a globally diverse operating footprint, selling to customers in Europe, North America, Latin America, and the Asia Pacific regions. The Company's sales are widely diversified, with the majority of sales made to nutrition, health, beauty and wellness categories which include food, beverage, pharmaceutical, medical device, home and personal care, and other consumer goods. All markets are considered to be highly competitive as to price, innovation, quality, and service. 58 Note 2 - Significant Accounting Policies Basis of Presentation and Principles of Consolidation: The consolidated financial statements include the accounts of the Company and its subsidiaries, for which the Company has a controlling financial interest. All significant intercompany transactions and balances have been eliminated. The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Certain amounts in the Company's notes to consolidated financial statements may not add up or recalculate due to rounding. The Company has certain U.S. and foreign subsidiaries that report on a 5-4-4 calendar or 52-week fiscal year, all of which were acquired as part of the Berry Merger completed on April 30, 2025, and which the Company consolidates into its respective fiscal period. The difference in period end for these foreign and U.S. subsidiaries has been determined to not be material. Change in Fiscal Year Historically, the Company reported on a fiscal year basis starting July 1 and ending June 30. Effective July 1, 2026, the Company will transition the fiscal year-end from June 30 to December 31. The Company plans to report its financial results for the six-month transition period of July 1, 2026 through December 31, 2026, on a Transition Report on Form 10-K/T and to thereafter file an Annual Report on Form 10-K for the first full calendar fiscal year ending on December 31, 2027. Prior to filing the transition report, the Company will file its Quarterly Report on Form 10-Q for the quarter ending September 30, 2026. In these consolidated financial statements, the fiscal years ended on June 30, 2026, 2025 and 2024 are referred to as "fiscal year 2026", "fiscal year 2025" and "fiscal year 2024", respectively. Reverse Stock Split On January 14, 2026, the Company filed an amendment to its memorandum of association to effect a 1-for-5 reverse stock split (the "Reverse Split"). The Reverse Split became effective on January 14, 2026. In connection with the Reverse Split, the par value of the Company's ordinary shares was increased to $0.05 and the Company's number of ordinary shares authorized was reduced to 1,800 million ordinary shares. Any resulting fractional shares were settled in cash. All share and per share amounts for all prior periods presented in the accompanying consolidated financial statements and applicable disclosures have been adjusted retroactively to reflect the Reverse Split, unless otherwise indicated. Business Combinations: The Company uses the acquisition method of accounting, which requires separate recognition of assets acquired and liabilities assumed from goodwill, at the acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the fair value of any non-controlling interests in the acquiree over the net of the acquisition date fair values of the assets acquired and liabilities assumed. During the measurement period, which may be up to one year from the acquisition date, the Company has the ability to record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. The Company's estimates of fair value are based upon assumptions believed to be reasonable, but the Company's estimates and assumptions are inherently uncertain and subject to modification. After the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded in the consolidated statements of income. Acquisition related costs and any related restructuring costs are expensed as incurred. Held for Sale and Discontinued Operations: The Company classifies assets and liabilities (the "disposal group") as held for sale in the period when all of the relevant criteria to be classified as held for sale are met. These criteria include management's commitment to sell the disposal group in its present condition and the sale being deemed probable of being completed within one year. Assets held for sale are reported at the lower of their carrying value or fair value less cost to sell. Fair value is determined based on management’s assessment of indicative bids, a market multiples model in which a market multiple is applied to forecasted earnings before interest, taxes, depreciation, and amortization (“EBITDA”), discounted cash flows, appraised values, or management's estimates, depending on the specific situation. Any loss resulting from the measurement is recognized in the period when the held for sale criteria are met. If the disposal group meets the definition of a business, the goodwill within the reporting unit is allocated to the disposal group based on its relative fair value. The Company assesses the fair value of a disposal group, less any disposal cost, each reporting period it remains classified as held for sale and reports any subsequent changes as an adjustment to the carrying value of the disposal group, as long as the new carrying value does not exceed the initial carrying value of the disposal group. Assets held for sale are not amortized or depreciated. A disposal group that represents a strategic shift to the Company or is acquired with the intention to sell is reflected as a discontinued operation on the consolidated statements of income and prior periods are recast to reflect the earnings or losses as income from discontinued operations. 59 Estimates and Assumptions Required: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. These estimates are based on historical experience and various assumptions believed to be reasonable under the circumstances. Management evaluates these estimates on an ongoing basis and adjusts or revises them as circumstances change. As future events and their impacts cannot be determined with precision, actual results may differ from these estimates. In the opinion of management, the consolidated financial statements reflect all adjustments necessary to fairly present the results of the periods presented. Translation of Foreign Currencies: The reporting currency of the Company is the U.S. dollar. The functional currency of the Company’s subsidiaries is generally the local currency of each entity. Transactions in currencies other than the functional currency of the entity are recorded at the exchange rates prevailing at the transaction date. Monetary assets and liabilities in currencies other than the entity’s functional currency are remeasured at the exchange rates as of the balance sheet date to the entity’s functional currency. Foreign currency transaction gains and losses are recorded in other income/(expenses), net in the consolidated statements of income. These foreign currency transaction net gains or net losses, not including losses on monetary balances in Argentina, amounted to a net loss of $1 million, $6 million, and $10 million during the fiscal years ended June 30, 2026, 2025, and 2024, respectively. Upon consolidation, the results of operations of subsidiaries with functional currencies other than the reporting currency of the Company are translated using average exchange rates during each year. Assets and liabilities of operations with a functional currency other than the U.S. dollar are translated at the exchange rates as of the balance sheet date, while equity balances are translated at historical rates. Translation gains and losses are reported in accumulated other comprehensive loss as a component of shareholders’ equity. Highly Inflationary Accounting: A highly inflationary economy is defined as an economy with a cumulative inflation rate of approximately 100 percent or more over a three-year period. As of July 1, 2018, the Argentine economy was designated as highly inflationary for accounting purposes. Accordingly, the U.S. dollar replaced the Argentine peso as the functional currency for the Company's subsidiaries in Argentina. The impact of highly inflationary accounting on monetary balances was a loss of $19 million, $16 million, and $53 million for the fiscal years ended June 30, 2026, 2025, and 2024, respectively, in the consolidated statements of income. Segment Reporting: Effective January 1, 2026, certain of the Company’s flexible operations in Latin America previously included in the Global Flexible Packaging Solutions reportable segment are now reflected in the Global Rigid Packaging Solutions reportable segment as the Company consolidated management of these flexible and rigid packaging operations under one management team and the Company's Chief Operating Decision Maker is now reviewing results under this new structure. Prior period amounts have been recast to conform with current period presentation. Refer to Note 21, "Segments" for information on the Company's reportable segments. Revenue Recognition: The Company generates revenue primarily by providing its customers with flexible and rigid packaging solutions, serving a variety of markets including food, beverage, consumer products, and healthcare end markets. The Company enters into a variety of agreements with customers, including quality agreements, pricing agreements, and master supply agreements, which outline the terms under which the Company does business with a specific customer. The Company also sells to some customers solely based on purchase orders. The Company has concluded for the vast majority of its revenues, that its contracts with customers are either a purchase order or the combination of a purchase order with a master supply agreement. All revenue recognized in the consolidated statements of income is considered to be revenue from contracts with customers. The Company typically satisfies the obligation to provide packaging to customers at a point in time upon shipment when control is transferred to customers. Revenue is recognized net of allowances for returns and customer claims and any taxes collected from customers, which are subsequently remitted to governmental authorities. The Company does not have any material contract assets or contract liabilities. The Company disaggregates revenue based on major product lines. Disaggregation of revenue is presented in Note 21, "Segments." Significant Judgments Determining whether products and services should be accounted for as distinct performance obligations or as combined performance obligations may require significant judgment. The Company has identified potential performance obligations in its customer master supply agreements and determined that none of them are capable of being distinct as the 60 customer can only benefit from the supplied packaging. Therefore, the Company has concluded that it has one performance obligation, which is to supply packaging to customers. The Company may provide variable consideration in several forms, which are determined through its agreements with customers. The Company can offer prompt payment discounts, sales rebates, or other incentive payments to customers. Sales rebates and other incentive payments can be awarded contingent on the achievement of certain performance metrics, including volume. The Company accounts for variable consideration using the most likely amount method. The Company utilizes forecasted sales data and rebate percentages specific to each customer agreement and updates its judgment of the amounts to which the customer is entitled each period. The Company enters into long-term agreements with certain customers, under which it is obligated to make various up-front payments for which it expects to receive a benefit in excess of the cost over the term of the contract. These up-front payments are deferred and reflected in prepaid expenses and other current assets or other non-current assets on its consolidated balance sheets. Contract incentives are typically recognized as a reduction to revenue over the term of the customer agreement. Practical Expedients The Company sells primarily through its direct sales force. Any external sales commissions are expensed when incurred because the amortization period would be one year or less. External sales commission expense is included in selling, general, and administrative expenses in the consolidated statements of income. The Company accounts for shipping and handling activities as fulfillment costs. Accordingly, shipping and handling costs are classified as a component of cost of sales while amounts billed to customers are classified as a component of net sales. The Company excludes from the measurement of the transaction price all taxes assessed by a government authority that are both imposed on and concurrent with a specific revenue producing transaction and collected from the customer, including sales taxes, value added taxes, excise taxes, and use taxes. Accordingly, the tax amounts are not included in net sales. The Company does not adjust the promised consideration for the time value of money for contracts where the difference between the time of payment and performance is one year or less. Research and Development: Research and development expenses are expensed as incurred. Restructuring Costs: Restructuring costs are recognized when the liability is incurred. The Company calculates severance obligations based on its standard customary practices. Accordingly, the Company records provisions for severance when payments are probable and estimable and when the Company has committed to the restructuring plan. In the absence of a standard customary practice or established local practice, liabilities for severance are recognized when incurred. If fixed assets become impaired as a result of the Company’s restructuring efforts, these assets are written down to their fair value less costs to sell, as the Company commits to dispose of them, and they are no longer in use. Depreciation is accelerated on fixed assets for the period of time the asset continues to be used until the asset ceases to be used. Other restructuring costs, including costs to relocate equipment, are generally recorded as the cost is incurred or the service is provided. See Note 6, "Restructuring," for more information on the Company’s restructuring plans. Cash, Cash Equivalents, and Restricted Cash: The Company considers all highly liquid investments, with a maturity of three months or less when purchased, to be cash equivalents. Cash equivalents include demand deposits that can be readily liquidated without penalty at the Company’s option. Cash equivalents are carried at cost which approximates fair market value. The Company had restricted cash of $14 million as of June 30, 2026. The amount of restricted cash as of June 30, 2025 was immaterial. Trade Receivables, net of allowance for credit losses ("Trade accounts receivable, net"): Trade accounts receivable, net, are stated at the amount the Company expects to collect, which is net of an allowance for sales returns and the estimated losses resulting from the inability of its customers to make required payments. The allowance for doubtful accounts is estimated based on the current expected credit loss model and it incorporates information about past events, current conditions, and reasonable and supportable forecasts of future economic conditions. When determining the collectability of specific customer accounts, several factors are evaluated, including customer creditworthiness, past transaction history with the customer, and changes in customer payment terms or practices. In addition, overall historical collection experience, current economic industry trends, and a review of the current status of trade accounts receivable are considered when determining the required allowance for credit losses. Changes in allowance for doubtful accounts were not material for fiscal years ended June 30, 2026, 2025, and 2024. 61 The Company enters into customer-based supply-chain financing programs from time to time to sell trade receivables to third-party financial institutions. Agreements which result in true sales of the transferred receivables, which occur when receivables are transferred without recourse to the Company, are reflected as a reduction of trade receivables, net on the consolidated balance sheets and the proceeds are included in the cash flows from operating activities in the consolidated statements of cash flows. Agreements that allow the Company to maintain effective control over the transferred receivables and which do not qualify as a true sale are accounted for as secured borrowings and recorded on the consolidated balance sheets within trade receivables, net and short-term debt. The expenses associated with receivables factoring are recorded in the consolidated statements of income primarily as a reduction of net sales. The Company did not factor any material trade receivables in fiscal years 2026 and 2025 which did not qualify as true sales of the receivables. Inventories, net: Inventories are stated at the lower of cost and net realizable value. The cost of inventories is based upon the first-in, first-out method or average cost method. Costs related to inventories include raw materials, direct labor, and manufacturing overhead. Property, Plant, and Equipment, Net ("PP&E"): PP&E is carried at cost less accumulated depreciation and impairment and includes expenditures for new facilities and equipment, as well as costs that substantially increase the useful lives or capacity of existing PP&E. Cost of constructed assets includes capitalized interest incurred during the construction period. Maintenance and repairs that do not improve efficiency or extend economic life are expensed as incurred. PP&E, including assets held under finance leases, is depreciated using the straight-line method over the estimated useful lives of the assets or, in the case of leasehold improvements and finance leases, over the period of the lease or useful life of the asset as described below. The Company periodically reviews these estimated useful lives and, when appropriate, changes are made prospectively. Leasehold land Over lease term Land improvements Up to 30 years Buildings Up to 50 years Machinery and equipment Up to 25 years Finance leases Lease term or up to 25 years Impairment of Long-lived Assets: The Company reviews long-lived assets, primarily PP&E and certain identifiable intangible assets with finite lives, for impairment when facts or circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. If impairment indicators are present and the estimated future undiscounted cash flows are less than the carrying value of the assets, the carrying values are reduced to their estimated fair value. Fair values are determined based on quoted market values, discounted cash flows, or external appraisals, as applicable. Impairments, including the effect of accelerated depreciation, of long-lived assets recognized in the consolidated statements of income were as follows: Years ended June 30, ($ in millions) 2026 2025 2024 Other income/(expenses), net $ 6 $ — $ — Restructuring, transaction and integration expenses, net 53 8 12 Total impairment losses recognized in the consolidated statements of income $ 59 $ 8 $ 12 Leases: The Company enters into leasing arrangements for certain manufacturing sites, offices, warehouses, land, vehicles, and equipment. The Company determines at the inception of the contract whether the contract is or contains a lease. A contract is a lease if it conveys the right to control an identified asset for a period of time in exchange for consideration. For leases with an original term of more than twelve months, the Company recognizes a right-of-use (“ROU”) asset and a lease liability. Short-term leases with a term of twelve months or less are not recorded on the consolidated balance sheets and the related expense is recognized on a straight-line basis over the term of the lease. Lease liabilities are recognized at the commencement date based on the present value of the remaining lease payments over the lease terms, which include any noncancellable lease terms and any renewal periods that the Company is reasonably certain to exercise. A significant portion of the Company's leases includes an option or options to extend the lease term. The 62 Company re-evaluates its leases on a regular basis to consider the economic and strategic incentives of exercising lease renewal options. As the implicit rates in the Company's leases generally cannot be readily determined, the Company uses estimates of its incremental borrowing rate as the discount rates to determine the lease liabilities. The Company accounts for lease and non-lease components as a single lease component for all asset classes. For certain equipment leases, the Company applies a portfolio approach in measuring and recognizing the associated operating lease ROU assets and lease liabilities. Certain leases require variable payments that are dependent on usage, output, or other factors. Variable lease payments that do not depend on an index or rate are excluded from lease payments in the measurement of the ROU lease asset and lease liability and recognized as an expense in the period in which the obligation for the payments occurs. Goodwill: Goodwill represents the excess of cost over the fair value of net assets acquired in a business combination. Goodwill is not amortized but is instead tested annually for impairment by the Company as of April 1 of each fiscal year or whenever events and circumstances indicate an impairment may have occurred during the fiscal year. Factors that could trigger an impairment review include a significant decline in a reporting unit’s operating results compared to its operating plan or historical performance, and competitive pressures and changes in the general markets in which it operates. All goodwill is assigned to a reporting unit, which is defined as the operating segment. When performing the required impairment tests, the Company has the option to first assess qualitative factors to determine if a quantitative assessment for goodwill impairment is necessary. If the qualitative assessment concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company performs a quantitative assessment. The Company's quantitative assessment utilizes discounted cash flow models to determine the fair value of the reporting units. Deriving fair value using discounted cash flows requires judgment and is sensitive to changes in underlying assumptions and market factors. Key assumptions include revenue growth, projected income growth, market multiples, terminal values, and discount rates. Sensitivity analyses are performed around certain of these assumptions to assess the reasonableness of the assumptions and the resulting estimated fair values. If current expectations of future growth rates and margins are not met, or if market factors beyond the Company’s control, such as factors impacting the applicable discount rate or economic or political conditions in key markets, change significantly, then goodwill allocated to one or more reporting units may be impaired. In fiscal year 2026, the Company performed quantitative impairment tests for its two reporting units and the Company concluded that goodwill was not impaired as the fair value of the reporting units substantially exceeded their carrying values. There were no events or circumstances which indicated goodwill might be impaired as of June 30, 2026. Other Intangible Assets, Net: Contractual or separable intangible assets that have finite useful lives are amortized against income using the straight-line method over their estimated useful lives, which range from 1 to 20 years. The straight-line method of amortization reflects an appropriate allocation of the costs of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. Costs incurred to develop software programs to be used solely to meet the Company's internal needs have been capitalized as computer software within other intangible assets. Fair Value Measurements: The fair values of the Company's financial assets and financial liabilities reflect the amounts that would be received to sell the assets or paid to transfer the liabilities in an orderly transaction between market participants at the measurement date (exit price). The Company determines fair value based on a three-tiered fair value hierarchy. The hierarchy consists of: •Level 1: fair value measurements represent exchange-traded securities, which are valued at quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the reporting date; •Level 2: fair value measurements are determined using input prices that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data; and •Level 3: fair value measurements are determined using unobservable inputs, such as internally developed pricing models for the asset or liability due to little or no market activity for the asset or liability. Derivative Instruments: The Company recognizes all derivative instruments on the consolidated balance sheets at fair value. The impact on earnings from recognizing the fair values of these instruments depends on their intended use, their hedge designation and their effectiveness in offsetting changes in the fair values of the exposures they are hedging. Derivatives not 63 designated as hedging instruments are adjusted to fair value through income. Depending on the nature of derivatives designated as hedging instruments, changes in the fair value are either offset against the change in fair value of the hedged assets, liabilities, or firm commitments through earnings or recognized in shareholders’ equity through other comprehensive income/(loss) until the hedged item is recognized. Gains or losses, if any, related to the ineffective portion of any hedge are recognized through earnings over the life of the hedging relationship. See Note 12, "Derivative Instruments," for more information regarding specific derivative instruments included on the Company’s consolidated balance sheets, such as forward foreign currency exchange contracts, currency swap contracts, and interest rate swap arrangements, among other derivative instruments. Employee Benefit Plans: The Company sponsors various defined contribution plans to which it makes contributions on behalf of employees. The expense under such plans was $137 million, $98 million, and $91 million for the fiscal years ended June 30, 2026, 2025, and 2024, respectively. The Company also sponsors a number of defined benefit plans that provide benefits to current and former employees. For the Company-sponsored plans, the relevant accounting guidance requires management to make certain assumptions relating to the long-term rate of return on plan assets, discount rates used to determine the present value of future obligations and expenses, salary inflation rates, mortality rates, and other assumptions. The Company believes that the accounting estimates related to its pension plans are critical accounting estimates because they are highly susceptible to change from period to period based on the performance of plan assets, actuarial valuations, market conditions, and contracted benefit changes. The selection of assumptions is based on historical trends, known economic and market conditions at the time of valuation, and independent studies of trends performed by the Company’s actuaries. However, actual results may differ substantially from the estimates that were based on the critical assumptions. The Company recognizes the funded status of each defined benefit pension plan in the consolidated balance sheets. Each overfunded plan is recognized as an asset in employee benefit assets and each underfunded plan is recognized as a liability in employee benefit obligations. Pension plan liabilities are revalued annually, or when an event occurs that requires remeasurement, based on updated assumptions and information about the individuals covered by the plan. Accumulated actuarial gains and losses in excess of a 10 percent corridor and the prior service cost are amortized on a straight-line basis from the date recognized over the average remaining service period of active participants or over the average life expectancy for plans with significant inactive participants. The service costs related to defined benefits are included in operating income. The other components of net benefit cost other than service cost are recorded within other non-operating income/(expenses), net in the consolidated statements of income. Equity Method and Other Investments: Investments in ordinary shares of companies, in which the Company believes it exercises significant influence over operating and financial policies, are accounted for using the equity method of accounting. Investments in limited partnerships or limited liability companies that maintain separate ownership accounts are also accounted for under the equity method unless the Company's interest is so minor that it has virtually no influence over the investee's operating and financial policies. Under this method, the investment is carried at cost and is adjusted to recognize the investor’s share of earnings or losses of the investee after the date of acquisition and is adjusted for impairment whenever it is determined that a decline in the fair value below the cost basis is other than temporary. The fair value of the investment then becomes the new cost basis of the investment, and it is not adjusted for subsequent recoveries in fair value. The Company reviews its investments accounted for under the equity method for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. All equity investments that do not result in consolidation and are not accounted for under the equity method are measured at fair value with unrealized gains and losses related to mark-to-market adjustments included in net income. The Company utilizes the measurement alternative for equity investments that do not have readily determinable fair values and measures these investments at cost adjusted for impairments and observable price changes in orderly transactions. See Note 8, "Equity Method and Other Investments," for more information on the Company's equity method and other investments. Contingencies: The Company is subject to numerous contingencies arising in the ordinary course of business, such as legal and administrative proceedings, environmental claims and proceedings, workers' compensation, and other claims. Accruals for estimated losses are recorded by the Company at the time information becomes available indicating that losses are probable, and the amounts can be reasonably estimated. When management can reasonably estimate a range of losses that it may incur, it records an accrual for the amount within the range that constitutes its best estimate. If no amount within a range appears to be a better estimate than any other, the low end of the range is accrued. The Company records anticipated recoveries under existing insurance contracts when recovery is probable. 64 Share-based Compensation: The Company has a variety of equity incentive plans. For employee awards with a service or market condition, compensation expense is recognized over the vesting period on a straight-line basis using the grant date fair value of the award and the estimated number of awards that are expected to vest. For awards with a non-market performance condition, the Company reassesses the probability of vesting at each reporting period and adjusts compensation cost based on its probability assessment. The Company also has immaterial cash-settled share-based compensation plans which are accounted for as liabilities. Such share-based awards are remeasured to fair value at each reporting date. The Company estimates forfeitures based on employee level, time remaining to vest, and historical forfeiture experience. In connection with the Berry Merger, the Company assumed replacement equity awards, including restricted stock units and the outstanding and unexercised options to purchase Berry common stock, and converted them into share-based awards for ordinary shares of Amcor. See Note 18, "Share-based Compensation." Income Taxes: The Company uses the asset and liability method to account for income taxes. Deferred income taxes reflect the future tax consequences of temporary differences between the tax bases of assets and liabilities and their financial reporting amounts at each balance sheet date, based upon enacted income tax laws and tax rates. Income tax expense or benefit is provided based on earnings reported in the consolidated financial statements. The provision for income tax expense or benefit differs from the amounts of income taxes currently payable because certain items of income and expense included in the consolidated financial statements are recognized in different time periods by taxing authorities. Deferred tax assets, including operating losses, capital losses, and tax credit carryforwards, are reduced by a valuation allowance when it is more likely than not that any portion of these tax attributes will not be realized. In addition, from time to time, management assesses the need to accrue or disclose uncertain tax positions. In making these assessments, management must often analyze complex tax laws of multiple jurisdictions. Accounting guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company records the related interest expense and penalties, if any, as tax expense in the tax provision. See Note 17, "Income Taxes," for more information on the Company's income taxes. 65 Note 3 - New Accounting Guidance Recently Adopted Accounting Standards In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, that adds new income tax disclosure requirements primarily related to existing income tax rate reconciliation and income taxes paid information. The standard's amendments became effective for the Company for annual periods beginning July 1, 2025. The Company has adopted the guidance prospectively for the fiscal year ending June 30, 2026. The adoption of this guidance did not have a material impact on the Company's consolidated financial statements but did require additional disclosures. Refer to Note 17, "Income Taxes." Accounting Standards Not Yet Adopted In November 2024, the FASB issued ASU 2024-03 that requires companies to disclose disaggregated information about certain income statement expense line items. The ASU becomes effective for the Company for annual periods beginning January 1, 2027, and interim reporting periods beginning with the first quarter of fiscal year beginning January 1, 2028, with early adoption permitted. The Company is currently evaluating the impact that this guidance will have on its disclosures. In September 2025, the FASB issued ASU 2025-06 to modernize the guidance for accounting for software costs by aligning the accounting with how software is developed today. The ASU becomes effective for the Company for annual periods beginning January 1, 2028, and interim reporting periods within those annual reporting periods, with early adoption permitted. The guidance can be applied either prospectively, retrospectively, or utilizing a modified transition approach. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and disclosures. In December 2025, the FASB issued ASU 2025-10 to establish authoritative guidance on the accounting for government grants received by business entities. The ASU becomes effective for the Company for annual periods beginning January 1, 2029, and interim reporting periods within those annual reporting periods, with early adoption permitted. The guidance can be applied on a modified prospective basis, a modified retrospective basis, or a retrospective basis. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and disclosures. In May 2026, the FASB issued ASU 2026-02 that establishes guidance on the recognition, measurement, presentation and disclosure of environmental credits and related obligations. The ASU provides a framework for accounting for environmental credit assets, including those generated, purchased or received, and environmental credit obligations. The ASU is effective for the Company beginning January 1, 2028, and early adoption is permitted. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and disclosures. The effective dates of the standards not yet adopted reflect the Company's announced fiscal year end change (refer to Note 2, "Significant Accounting Policies"). The Company considers the applicability and impact of all ASUs issued by the FASB. The Company determined at this time that all other ASUs not yet adopted are either not applicable or are expected to have minimal impact on the Company's consolidated financial statements. 66 Note 4 - Acquisitions and Divestitures Acquisitions Fiscal Year 2026 - Acquisition On August 29, 2025, the Company completed the acquisition of 100% equity interest in a Brazilian entity manufacturing rigid packaging. The purchase consideration amounted to $17 million. The acquisition is part of the Company's Global Rigid Packaging Solutions reportable segment and has resulted in the recognition of acquired identifiable net assets of $16 million and goodwill of $1 million. Goodwill is not deductible for tax purposes. The fair value estimates for the acquisition were based on market and cost valuation methods. Pro forma information related to the acquisition has not been presented, as the effect of the acquisition on the Company's consolidated financial statements was not material. Fiscal Year 2025 - Acquisition of Berry Global Group, Inc. On November 19, 2024, Amcor plc, Aurora Spirit, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“Merger Sub”), and Berry Global Group, Inc., a Delaware corporation (“Berry”), entered into an Agreement and Plan of Merger (the “Merger Agreement”). On April 30, 2025, the Company completed the Merger with Berry, a global leader in innovative packaging solutions based in the United States, acquiring 100 percent of their equity. Pursuant to the Merger Agreement, the purchase consideration of $10.4 billion, was based on the conversion of each outstanding share of Berry common stock issued (excluding shares held by Berry as treasury stock immediately prior to Merger) to 7.25 Amcor ordinary shares (and, if applicable, cash in lieu of fractional shares), fair value of converted vested Berry share-based awards at closing, fair value of converted unvested share-based awards attributable to pre-combination service, and debt required to be paid off at transaction close. In addition to the purchase consideration below, approximately $5.2 billion of debt was assumed by Amcor. The purchase price excludes transaction costs of $169 million incurred in the period ended June 30, 2025, which were expensed as incurred. The following table summarizes the fair value of consideration exchanged: ($ in millions, except price per share) Berry shares outstanding at April 30, 2025 (in millions) 117 Share Exchange Ratio (1) 7.25 Price per Share (Based on Amcor’s closing share price on April 30, 2025) (1) $ 9.33 Total equity consideration issued to legacy Berry shareholders $ 7,897 Issuance of replacement equity awards $ 310 Repayment of outstanding Berry indebtedness upon consummation of Merger $ 2,190 Total consideration $ 10,397 (1) The share exchange ratio and price per share have not been adjusted for the Reverse Split. In connection with the Merger, outstanding Berry share-based compensation awards, including restricted stock unit (RSU) and performance share unit (PSU) awards were replaced with Amcor RSU and options awards with generally the same terms and conditions as the original awards subject to the terms of the Merger Agreement. Outstanding short-term Berry options were deemed fully vested at the close of the transaction and unvested options were converted into Amcor option awards with generally the same terms and conditions as the original awards subject to the terms of the Merger Agreement. The Merger consideration includes $310 million related to Berry awards that were settled or replaced in connection with the acquisition. Compensation expense of $27 million was recognized immediately post-acquisition and $31 million of compensation expense will be recognized over the remaining service period of up to three years from the acquisition date. The Merger with Berry positions the Company as a global leader in consumer packaging and dispensing solutions for healthcare, beauty and wellness, and nutrition with a comprehensive global footprint in flexible and rigid packaging solutions and greater scale in key regions of North America, Latin America, Asia Pacific and Europe, along with industry-leading research and development capabilities. 67 The Merger with Berry was accounted for as a business combination in accordance with ASC 805, "Business Combinations," with Amcor management determining that Amcor is the accounting acquirer in the Merger. The purchase consideration was required to be allocated to the estimated fair values of identifiable assets acquired and liabilities assumed in the transaction. The following table summarizes the final purchase allocation of the assets acquired and liabilities assumed on the acquisition date and the measurement period adjustments made since June 30, 2025: ($ in millions) Final Purchase Price Allocation Cash and cash equivalents $ 555 Trade receivables 1,278 Inventories 1,493 Prepaid expenses and other current assets 150 Property, plant, and equipment 3,641 Operating lease assets 590 Deferred tax assets 39 Other intangible assets 5,964 Employee benefit assets 34 Other non-current assets 21 Total identifiable assets acquired $ 13,765 Current portion of long-term debt $ 859 Short term debt 1 Trade payables 626 Accrued employee costs 196 Other current liabilities 1,035 Non-current operating lease liabilities 495 Long-term debt, less current portion 4,365 Deferred tax liabilities 1,753 Employee benefit obligations 154 Other non-current liabilities 675 Total liabilities assumed $ 10,159 Net identifiable assets acquired 3,606 Fair value of non-controlling interest (6) Goodwill 6,797 Net assets acquired $ 10,397 The following table details the identifiable intangible assets acquired from Berry, their fair values and respective useful lives: Fair Value ($ in millions) Weighted-average Useful Life (Years) Customer relationships $ 5,560 16 Technology 326 8 Other 78 6 Total other intangible assets $ 5,964 68 The final allocation of the purchase price resulted in $1,783 million of goodwill for the Global Flexible Packaging Solutions segment and $5,014 million of goodwill for the Global Rigid Packaging Solutions segment, which is not tax deductible. The goodwill on acquisition represents the future economic benefit expected to arise from other intangible assets acquired that do not qualify for separate recognition, including assembled workforce and non-contractual relationships, as well as expected future synergies. The fair value measurement of tangible and intangible assets and liabilities was based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value measurement hierarchy. Level 3 fair market values were determined using a variety of information, including estimated future cash flows, appraisals and market comparables. The fair value of customer relationships was determined using an income approach methodology, specifically the multi-period excess earnings method. Key assumptions used in estimating future cash flows included revenue growth rates, long-term growth rates, projected earnings before interest, tax, depreciation and amortization ("EBITDA"), income tax rates, discount rates, and customer attrition rates. The following unaudited pro forma information has been prepared as if the Merger of Berry had occurred as of July 1, 2023. The unaudited pro forma information combines the historical results of Amcor and Berry. Years ended June 30, ($ in millions) 2025 2024 Net sales $ 23,242 $ 23,321 Net income attributable to Amcor plc $ 843 $ 669 Pro forma adjustments to income from continuing operations attributable to Amcor plc included the following: •interest expense for acquisition financing and the amortization of the fair value adjustment to debt assumed; •preliminary acquisition accounting adjustments, including amortization expense from the preliminary fair value adjustments to acquired intangible assets and purchase accounting related inventory effects; •incremental share-based compensation expense associated with the Merger; •transaction expenses associated with the Merger; and •the associated tax related impacts of adjustments. The pro forma results are not necessarily indicative of the actual results that would have occurred had the acquisition been in effect for the periods presented, nor is it intended to be a projection of future results. For example, the pro forma results do not include the expected synergies from the transactions, nor the related costs to achieve. Year ended June 30, 2024 On September 27, 2023, the Company completed the acquisition of a small manufacturer of flexible packaging for food, home care, and personal care applications in India for a purchase consideration of $14 million plus the assumption of debt of $10 million. The acquisition is part of the Company's Global Flexible Packaging Solutions reportable segment and resulted in the recognition of goodwill of $12 million. Goodwill is not deductible for tax purposes. Divestitures Fiscal year 2026 On January 14, 2026, the Company completed the sale of its investment in ePac Holdings, LLC ("ePac") and its operating subsidiaries for estimated proceeds of approximately $79 million, including contingent and deferred consideration. The sale resulted in a loss of approximately $2 million, which was recorded as other income/(expenses), net, within the consolidated statements of income. ePac had been accounted for under the equity method since fiscal year 2023. On June 30, 2026, the Company completed the sale of a business identified as part of the strategic review of the Company's portfolio for cash consideration of $210 million. This business was part of the Global Rigid Packaging Solutions reportable segment, and resulted in a pre-tax net gain on sale of $25 million. In addition, during the fourth quarter of 2026, as part of the same strategic review, the Company disposed of three individually immaterial businesses for a cash consideration of $88 million. In addition to cash consideration, the Company recognized a $40 million deferred consideration receivable which is recorded in other non-current assets within the consolidated balance sheet as of June 30, 2026. These businesses were mainly 69 part of the Global Rigid Packaging Solutions reportable segment. The cumulative pre-tax, net gain from the sale of these businesses recorded in the fourth quarter of fiscal year 2026 was $31 million. In addition, the Company incurred a $6 million impairment charge in the third quarter of the fiscal year 2026 related to the strategic review of the Company's portfolio. The gains from the strategic review of the Company's portfolio have all been recorded as other income/(expenses), net, within the consolidated statements of income. The proceeds from these sales were used to reduce the Company's debt. Fiscal year 2025 On November 25, 2024, the Company completed the sale of a non-core business in France in the Global Flexible Packaging Solutions reportable segment, recording a pre-tax net loss on sale of $7 million which includes a $4 million impairment charge recorded in the first quarter of fiscal year 2025. The loss has been recorded as other income/(expenses), net, within the consolidated statements of income. On December 27, 2024, the Company completed the sale of its 50% equity interest in the Bericap North America closures business ("Bericap"), which was fully consolidated under the Global Rigid Packaging Solutions reportable segment, for cash consideration of $123 million. The sale resulted in a pre-tax net gain of $15 million which was recorded as other income/(expenses), net, within the consolidated statements of income. The proceeds from the sale were used to reduce the Company's debt. 70 Note 5 - Restructuring, Transaction, and Integration Expenses, Net Restructuring, transaction and integration expenses, net as reported on the consolidated statements of income are summarized as follows: Years ended June 30, ($ in millions) 2026 2025 2024 Restructuring, integration and related expenses, net (1) $ (266) $ (97) $ (97) Transaction costs (32) (169) — Accelerated merger-related compensation — (41) — Restructuring, transaction and integration expenses, net $ (298) $ (307) $ (97) (1)Includes restructuring and related expenses of $215 million, $64 million, and $97 million for fiscal years ended June 30, 2026, 2025 and 2024 and integration costs of $51 million, $33 million, and $0 million for fiscal years ended June 30, 2026, 2025 and 2024 respectively. Refer to Note 6, "Restructuring," for information on restructuring, integration and related expenses, net. Transaction costs include advisory services, financing-related, legal, and other costs associated with the Merger. Refer to Note 4, "Acquisitions and Divestitures". Accelerated merger-related compensation in fiscal year 2025 primarily includes additional share-based compensation expense incurred in connection with the Merger. Refer to Note 18, "Share-based Compensation". 71 Note 6 - Restructuring Restructuring and related expenses, net were $215 million, $64 million, and $97 million, for the fiscal years ended June 30, 2026, 2025, and 2024, respectively. The net expenses related to restructuring activities have been presented on the consolidated statements of income as part of restructuring, transaction and integration expenses, net. The Company's restructuring activities for the fiscal year ended June 30, 2026 were primarily comprised of restructuring activities related to the Berry Plan (as defined below). In the fiscal years ended June 30, 2025, and 2024, the Company's restructuring activities primarily related to the 2023 Restructuring Plan (as described in footnote 2 in the Consolidated Restructuring Plans table below). Restructuring related expenses are directly attributable to restructuring activities; however, they do not qualify for special accounting treatment as exit or disposal activities. The Company believes the disclosure of restructuring related costs provides more complete information on its restructuring activities. Berry Plan In connection with the Merger with Berry, the Company initiated restructuring and integration activities in the fourth quarter of fiscal year 2025 ("Berry Plan") aimed at integrating the combined organization. The total Berry Plan pre-tax cash cost is estimated at $280 million, including restructuring activities and general integration expenses. As of June 30, 2026, the Company has initiated restructuring projects with an expected net cost of approximately $280 million, of which $126 million relates to employee related expenses, $46 million to fixed asset related expenses (net of expected gains on asset disposals), $47 to other restructuring expenses, and $61 million to restructuring related expenses. In addition, the Company expects to spend approximately $100 million on general integration costs. The Company estimates that restructuring and general integration activities initiated to date will result in net cash expenditures of approximately $245 million. The Berry Plan relates to both reportable segments and Corporate, and is expected to be completed by June 30, 2028. From the initiation of the Berry Plan through June 30, 2026, the Company has incurred $118 million in employee related expenses, $19 million on fixed asset related items (net of gains on asset disposals), $26 million in other restructuring and $45 million in restructuring related expenses, with $78 million incurred in the Global Flexible Packaging Solutions reportable segment, $114 million incurred in the Global Rigid Packaging Solutions reportable segment, and $16 million incurred in Corporate. To date, the Berry Plan has resulted in approximately $107 million of restructuring net cash outflows. The Company has also incurred $84 million in general integration expenses to date, in both reportable segments and Corporate. Restructuring related expenses for fiscal year 2026, include inventory discrepancies of $15 million, including errors from prior periods, tied to manufacturing inefficiencies and other management issues which supported the decision to close two facilities in Asia and other costs, including start-up costs after relocation of equipment. Other Restructuring Plans The Company has entered into other individually immaterial restructuring plans ("Other Restructuring Plans"). Expenses incurred under such programs are primarily costs to move equipment and other costs. During fiscal year 2026, the Company recorded $21 million in restructuring and related expenses classified within Other Restructuring Plans of which $2 million related to employee related expenses, $2 million to fixed asset related expenses, $5 million related to other restructuring expenses, and $12 million related to restructuring related expenses. During fiscal year 2025, the Company recorded $6 million in restructuring and related expenses classified within Other Restructuring Plans of which $2 million related to employee related expenses, $1 million to other restructuring expenses, and $3 million to restructuring related expenses. During fiscal year 2024, the Company recorded $10 million in restructuring and related expenses classified within Other Restructuring Plans of which $1 million related to employee related expenses, $2 million to fixed asset related expenses, $3 million to other restructuring expenses, and $4 million to restructuring related expenses. Consolidated Restructuring Plans The total expenses incurred from the beginning of the Company's Berry Plan, 2023 Restructuring Plan, and Other Restructuring Plans are as follows: 72 ($ in millions) Berry Plan (1) 2023 Restructuring Plan (2) Other Restructuring Plans (3) Total Restructuring and Related Expenses Fiscal year 2024 $ — $ 87 $ 10 $ 97 Fiscal year 2025 14 44 6 64 Fiscal year 2026 194 — 21 215 (1)Includes restructuring related expenses of $45 million for fiscal year 2026. (2)The 2023 Restructuring Plan was announced on February 7, 2023, and relates to the Company’s various cost saving initiatives to partly offset divested earnings from the three manufacturing facilities in Russia that were sold in fiscal year 2023. This plan was completed at the end of calendar year 2025 and included restructuring related expenses of $10 million and $15 million for fiscal years 2025 and 2024 respectively. In fiscal years 2025, and 2024, respectively, $43 million and $69 million of restructuring and related expenses, net, were incurred in the Global Flexible Packaging Solutions reportable segment and $1 million, and $18 million in the Global Rigid Packaging Solutions reportable segment. (3)Includes restructuring related costs of $12 million, $3 million and $4 million in for fiscal years 2026, 2025, and 2024, respectively. An analysis of the restructuring expenses by type incurred is as follows: Years ended June 30, ($ in millions) 2026 2025 2024 Employee related expenses $ 106 $ 38 $ 18 Fixed asset related expenses/(gains) (1) 21 2 20 Other expenses 31 11 40 Total restructuring expenses, net $ 158 $ 51 $ 78 (1) Fiscal year 2026 includes a net gain on disposals of $25 million. Fiscal year 2025 includes a net gain on disposal of $2 million. Fiscal year 2024 includes a net gain on disposal of properties of $6 million. An analysis of the Company's restructuring plan liability, not including restructuring related liabilities, is as follows: ($ in millions) Employee Costs Fixed Asset Related Costs Other Costs Total Restructuring Costs Liability balance at June 30, 2025 $ 97 $ — $ 8 $ 105 Net charges to earnings 106 43 31 180 Additions through business acquisition 6 — — 6 Cash paid (102) (3) (26) (131) Non-cash and other (1) (40) (2) (43) Foreign currency translation (1) — — (1) Liability balance at June 30, 2026 $ 105 $ — $ 11 $ 116 The table above includes liabilities arising from the above restructuring plans. The majority of the liabilities related to restructuring activities have been recorded on the consolidated balance sheets under other current liabilities. 73 Note 7 - Supply Chain Financing Arrangements The Company facilitates several regional voluntary supply chain financing ("SCF") programs with financial institutions, all of which have similar characteristics. The Company establishes these SCF programs to provide its suppliers with a potential source of liquidity and to enable a more efficient payment process. Under these SCF programs, qualifying suppliers may elect, but are not obligated, to sell their receivables due from Amcor to these financial institutions in advance of the agreed payment due date. The Company is not involved in negotiations between the suppliers and the financial institutions, and its rights and obligations to its suppliers are not impacted by its suppliers’ decisions to sell amounts to the financial institutions. Under these SCF programs, the Company agrees to pay the financial institution the stated invoice amounts from its participating suppliers on the original maturity dates of the invoices. The range of payment terms negotiated with suppliers under these arrangements are consistent with industry norms and short-term in nature, regardless of whether a supplier participates in the program. The Company's SCF programs do not include any guarantees to the financial institutions, or any assets pledged as securities. All outstanding amounts related to suppliers participating in the SCF programs are reflected in trade payables in the Company’s consolidated balance sheets, and associated payments are included in operating activities within the Company’s consolidated statements of cash flows. The following table illustrates the activity and the outstanding payment obligations under the Company's programs. ($ in millions) Total Payment Obligations Liability balance at June 30, 2025 $ 901 Invoices confirmed during the year 2,143 Confirmed invoices paid during the year (2,231) Impact of foreign currency (4) Liability balance at June 30, 2026 $ 809 74 Note 8 - Equity Method and Other Investments As of June 30, 2026 and 2025, the Company has investments of $24 million and $100 million, respectively, in multiple equity and other investments. On January 14, 2026, the Company completed the sale of its investment in ePac for estimated proceeds of approximately $79 million. The largest investment at June 30, 2025, was the Company's investment in ePac representing an ownership of 21.1%. For further information, refer to Note 4, “Acquisitions and Divestitures”. All of the Company's investments are individually immaterial. All investments are included in other non-current assets in the Company's consolidated balance sheets. The Company accounted for its share in ePac's net result in equity in income/(loss) of affiliated companies, net of tax in the consolidated statements of income, with a three month lag due to the availability of financial information. The Company received no dividends from its equity method investments in the fiscal years ended June 30, 2026, 2025, and 2024. 75 Note 9 - Property, Plant, and Equipment, Net The components of property, plant, and equipment, net, were as follows: ($ in millions) June 30, 2026 June 30, 2025 Land and land improvements $ 434 $ 590 Buildings and improvements 2,163 2,414 Plant and equipment 9,872 9,735 Total property, plant, and equipment 12,469 12,739 Accumulated depreciation (5,028) (4,508) Accumulated impairment (32) (29) Total property, plant, and equipment, net $ 7,409 $ 8,202 Depreciation expense amounted to $873 million, $453 million, and $402 million for fiscal years 2026, 2025, and 2024, respectively. Amortization of assets under finance leases is included in depreciation expense. 76 Note 10 - Goodwill and Other Intangible Assets Changes in the carrying amount of goodwill attributable to each reportable segment were as follows: ($ in millions) Global Flexible Packaging Solutions Segment Global Rigid Packaging Solutions Segment Total Balance as of June 30, 2024 (1) $ 4,194 $ 1,151 $ 5,345 Acquisitions and acquisition adjustments (2) 1,657 4,202 5,859 Disposals (2) (1) (30) (31) Foreign currency translation 57 46 103 Balance as of June 30, 2025 5,907 5,369 11,276 Acquisitions and acquisition adjustments (2) 126 812 938 Disposals (2) (9) (93) (102) Foreign currency translation (5) (32) (37) Balance as of June 30, 2026 $ 6,019 $ 6,056 $ 12,075 (1) Segment balances have been retroactively adjusted for the change in segment allocation. Refer to Note 21, "Segments" for further information. (2) Acquisitions and acquisition adjustments and disposals are detailed in Note 4, "Acquisitions and Divestitures." Other Intangible Assets, Net Other intangible assets, net were comprised of the following: June 30, 2026 ($ in millions) Gross Carrying Amount Accumulated Amortization and Impairment (1) Net Carrying Amount Customer relationships $ 7,580 $ (1,478) $ 6,102 Computer software 348 (230) 118 Other 751 (383) 368 Total other intangible assets $ 8,679 $ (2,091) $ 6,588 June 30, 2025 ($ in millions) Gross Carrying Amount Accumulated Amortization and Impairment (1) Net Carrying Amount Customer relationships $ 7,530 $ (1,020) $ 6,510 Computer software 316 (214) 102 Other 1,079 (288) 791 Total other intangible assets $ 8,925 $ (1,522) $ 7,403 (1)Accumulated amortization and impairment as of June 30, 2026 and 2025, included $52 million and $39 million, respectively, of accumulated impairment in the Other category. In addition, both June 30, 2026, and 2025 included $13 million of accumulated impairment in the Computer software category. Amortization expenses for intangible assets were $577 million, $263 million, and $181 million during the fiscal years 2026, 2025, and 2024, respectively. Amortization expense on intangible assets acquired in business combinations is recorded within amortization of acquired intangible assets in the consolidated statements of income. The remaining amortization is recorded within selling, general, and administrative expenses in the consolidated statements of income. During fiscal year 2026 the Company recorded an impairment charge of $14 million in the Other category. In fiscal year 2025, the Company recorded an impairment charge of $7 million in the Computer software category. In fiscal year 2024 there were no impairment charges recorded on intangible assets. 77 Estimated amortization expense for intangible assets for the next five fiscal years ending June 30 is as follows: ($ in millions) Amortization 2027 $ 582 2028 548 2029 542 2030 528 2031 518 78 Note 11 - Fair Value Measurements The fair values of the Company's financial assets and financial liabilities listed below reflect the amounts that would be received to sell the assets or paid to transfer the liabilities in an orderly transaction between market participants at the measurement date (exit price). The Company's non-derivative financial instruments primarily include cash and cash equivalents, trade receivables, trade payables, short-term debt, and long-term debt. At June 30, 2026, and 2025, the carrying value of these financial instruments, excluding long-term debt, approximated fair value because of the short-term nature of these instruments. Fair value disclosures are classified based on the fair value hierarchy. See Note 2, "Significant Accounting Policies," for information about the Company's fair value hierarchy. The carrying value of long-term debt with variable interest rates approximates its fair value. The fair value of the Company's long-term debt with fixed interest rates is based on market prices, if available, or expected future cash flows discounted at the current interest rate for financial liabilities with similar risk profiles. The carrying values and estimated fair values of long-term debt with fixed interest rates (excluding the fair value of designated receive-fixed, pay-variable rate swaps) were as follows: June 30, 2026 June 30, 2025 Carrying Value Fair Value Carrying Value Fair Value ($ in millions) (Level 2) (Level 2) Total long-term debt with fixed interest rates (excluding commercial paper and finance leases) $ 12,503 $ 12,525 $ 12,174 $ 12,213 Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis Additionally, the Company measures and records certain assets and liabilities, including derivative instruments and contingent purchase consideration liabilities, at fair value. The following tables summarize the fair values of these instruments, which are measured at fair value on a recurring basis, by level, within the fair value hierarchy: June 30, 2026 ($ in millions) Level 1 Level 2 Level 3 Total Assets Contingent sale consideration $ — $ — $ 5 $ 5 Commodity contracts — 5 — 5 Forward exchange contracts — 3 — 3 Total assets measured at fair value $ — $ 8 $ 5 $ 13 Liabilities Contingent purchase consideration $ — $ — $ 6 $ 6 Commodity contracts — 2 — 2 Forward exchange contracts — 5 — 5 Interest rate swaps — 60 — 60 Cross currency swaps — 404 — 404 Total liabilities measured at fair value $ — $ 471 $ 6 $ 477 79 June 30, 2025 ($ in millions) Level 1 Level 2 Level 3 Total Assets Commodity contracts $ — $ 1 $ — $ 1 Forward exchange contracts — 6 — 6 Total assets measured at fair value $ — $ 7 $ — $ 7 Liabilities Contingent purchase consideration $ — $ — $ 20 $ 20 Commodity contracts — 3 — 3 Forward exchange contracts — 5 — 5 Interest rate swaps — 63 — 63 Cross currency swaps — 497 — 497 Total liabilities measured at fair value $ — $ 568 $ 20 $ 588 The fair value of the commodity contracts was determined using a discounted cash flow analysis based on the terms of the contracts and observed market forward prices discounted at a currency specific rate. Forward exchange contract fair values were determined based on quoted prices for similar assets and liabilities in active markets using inputs such as currency rates and forward points. The fair value of the interest rate swaps was determined using a discounted cash flow method based on market-based swap yield curves, taking into account current interest rates. The fair value of the cross currency swaps was determined using a discounted cash flow method based on market-observed currency rates, forward points, and swap yield curves, adjusted for current interest rates in the respective currencies. Contingent purchase consideration liabilities arise from business acquisitions and other investments. As of June 30, 2026, the Company had contingent purchase consideration liabilities of $6 million. The Company derecognized in fiscal year 2026 a $12 million liability that was contingent on future royalty income generated by Discma AG, a subsidiary acquired in March 2017, to a fair value of nil. The derecognition was linked to the Company's restructuring initiatives and was recorded within restructuring, transaction and integration expenses, net, in the consolidated statements of income (refer to Note 6, "Restructuring"). Contingent sale consideration relates to the sale of ePac (refer to Note 4, "Acquisitions and Divestitures"). The fair values of the contingent purchase consideration liabilities and contingent sale consideration assets were determined for each arrangement individually. The fair values were determined using an income approach with significant inputs that are not observable in the market. Key assumptions include the selection of discount rates consistent with the level of risk of achievement and probability-adjusted financial projections. The expected outcomes are recorded at net present value, which require adjustment over the life for changes in risks and probabilities. Changes arising from modifications in forecasts related to contingent consideration are not expected to be material. The fair value of contingent purchase consideration liabilities is included in other current liabilities and other non-current liabilities in the consolidated balance sheets. Contingent sale consideration is included in other non-current assets in the consolidated balance sheets. The following table sets forth a summary of changes in the value of the Company's Level 3 financial liabilities: June 30, ($ in millions) 2026 2025 Fair value at the beginning of the year $ 20 $ 36 Change in fair value of Level 3 liabilities (12) (2) Payments (2) (16) Foreign currency translation — 2 Fair value at the end of the year $ 6 $ 20 Assets and Liabilities Measured and Recorded at Fair Value on a Nonrecurring Basis In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records certain assets at fair value on a nonrecurring basis, generally when events or changes in circumstances indicate the carrying value may 80 not be recoverable, or when they are deemed to be other than temporarily impaired. These assets include goodwill and other intangible assets, equity method and other investments, long-lived assets and disposal groups held for sale, and other long-lived assets. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges or as a result of charges to remeasure assets classified as held for sale to fair value less cost of disposal. The fair values of these assets are determined, when applicable, based on valuation techniques using the best information available, and may include quoted market prices, market comparables, and discounted cash flow projections. These nonrecurring fair value measurements are considered to be Level 3 in the fair value hierarchy. During fiscal year 2026, the Company recorded impairment charges, including the effect of accelerated depreciation, of $53 million, related to long-lived assets, with $25 million incurred in the Global Rigid Packaging Solutions reportable segment, and $9 million incurred in the Global Flexible Packaging Solutions reportable segment, and $19 million in Corporate. For information on long-lived asset impairments, refer to Note 6, "Restructuring". In addition, as a result of a remeasurement of a disposal group held for sale, which is considered a Level 3 fair value measurement, the Company recognized an impairment charge of $6 million in fiscal year 2026 which was recorded within other income/(expenses), net, in the consolidated statements of income in the Global Rigid Packaging Solutions reportable segment. During fiscal year 2025, the Company recorded an impairment charge of $4 million within the Global Flexible Packaging Solutions reportable segment, to adjust the carrying value of the net assets of $11 million that were held for sale to their estimated fair value less cost to sell. The Company completed the sale of these non-core assets in the three months ended December 31, 2024. During the fiscal years ended June 30, 2026 and June 30, 2025, there were no impairment charges recorded on indefinite-lived intangibles, including goodwill. Refer to Note 4, "Acquisitions and Divestitures" for further information about the acquisition date fair values of the identifiable assets acquired and liabilities assumed in the Merger. 81 Note 12 - Derivative Instruments The Company periodically uses derivatives and other financial instruments to hedge exposures to interest rates, commodity prices, and currency risks. The Company does not hold or issue derivative instruments for speculative or trading purposes. For hedges that meet hedge accounting criteria, the Company, at inception, formally designates and documents the instruments as a fair value hedge or a cash flow hedge of a specific underlying exposure. On an ongoing basis, the Company assesses and documents that its designated hedges have been and are expected to continue to be highly effective. Interest Rate Risk The Company's policy is to manage exposure to interest rate risk by maintaining a mixture of fixed-rate and variable-rate debt, monitoring global interest rates, and, where appropriate, hedging floating interest rate exposure or debt at fixed interest rates through various interest rate derivative instruments, including, but not limited to, interest rate swaps, and interest rate locks. For interest rate swaps that are accounted for as fair value hedges, the gains and losses related to the changes in the fair value of the interest rate swaps are included in interest expense and offset changes in the fair value of the hedged portion of the underlying debt that are attributable to the changes in market interest rates. Changes in the fair value of interest rate swaps that have not been designated as hedging instruments are reported in the accompanying consolidated statements of income in other income/(expenses), net. On August 5, 2024, the Company entered into an interest rate swap contract for a notional amount of $500 million, which was subsequently downsized to $400 million notional on November 4, 2024. Under the terms of the contract, the Company paid a fixed rate of interest of 4.30% and receives a variable rate of interest, based on compound overnight Secured Overnight Financing Rate ("SOFR"), effective from August 12, 2024, through June 30, 2025, with monthly settlements commencing on September 1, 2024. The interest rate swap contract served as an economic hedge of the SOFR component of the Company's commercial paper issuances. As of June 30, 2026, the Company had no receive-variable/pay-fixed interest rate swaps outstanding. As of June 30, 2025, this $400 million receive-variable/pay-fixed swap matured, and the Company had no other receive-variable/pay-fixed interest rate swaps outstanding. The Company did not apply hedge accounting on these economic hedging instruments. As of June 30, 2026, and 2025, the total notional amount of the Company's receive-fixed, pay-variable interest rate swaps was $650 million. Foreign Currency Risk The Company manufactures and sells its products and finances operations in a number of countries throughout the world and, as a result, is exposed to movements in foreign currency exchange rates. The purpose of the Company's foreign currency hedging program is to manage the volatility associated with the changes in exchange rates. To manage this exchange rate risk, the Company utilizes forward contracts and cross currency swaps. Forward contracts that qualify for hedge accounting are designated as cash flow hedges of certain forecasted transactions denominated in foreign currencies. The effective portion of the changes in fair value of these instruments is reported in accumulated other comprehensive loss ("AOCI") and reclassified into earnings in the same financial statement line item and in the same period or periods during which the related hedged transactions affect earnings. The ineffective portion is recognized in earnings over the life of the hedging relationship in the same consolidated statements of income line item as the underlying hedged item. Changes in the fair value of forward contracts that have not been designated as hedging instruments are reported in the accompanying consolidated statements of income. As of June 30, 2026, and 2025, the notional amount of the outstanding forward contracts was $0.7 billion and $0.6 billion respectively. In May 2024, the Company entered into cross currency swap contracts for a total notional amount of $500 million. Under the terms of the contracts, the Company U.S. dollar swapped the notional and periodic interest payments to Swiss francs to manage foreign currency risk. The Company receives a fixed U.S. dollar rate of interest of 5.450% and pays a fixed weighted-average Swiss franc rate of interest of 2.218%. The Company has designated these cross currency swap contracts as a fair value hedge of its $500 million notes, recognizing the components excluded from the hedging relationship in accumulated other comprehensive loss ("AOCI") and reclassifying into earnings through the accrual of the periodic interest settlements on the swaps. During fiscal year 2026, there have not been any changes to these hedging relationships. These contracts mature on May 23, 2029. 82 Upon completion of the Merger, the Company assumed legacy Berry cross currency swaps. At acquisition date, certain of these swaps were designated as net investment hedges of both euro and pound sterling foreign operations. The Company designated notional amounts of €925 million and £700 million (pound sterling) swaps as net investment hedges, with the effective movements in fair value of the swaps being recognized in AOCI. In addition, the Company had an outstanding long-term debt of €375 million that was designated as a hedge of the Company's net investment in certain euro-denominated foreign subsidiaries. The Company also assumed an additional notional amount of €700 million cross currency swaps as a result of the Merger which are used as an economic hedge to certain foreign intercompany loans. During fiscal year 2026, the swaps were extended and all mature on June 15, 2027. There have not been any other changes to these hedging relationships in fiscal year 2026. As of June 30, 2026 and 2025, the notional amount of outstanding cross currency swaps was $3 billion. Commodity Risk Certain raw materials used in the Company's production processes are subject to price volatility caused by weather, supply conditions, political and economic variables, including tariffs, and other unpredictable factors. The Company's policy is to minimize exposure to price volatility by passing through the commodity price risk to customers, including through the use of fixed price swaps. In some cases, the Company purchases, on behalf of customers, fixed price commodity swaps to offset the exposure of price volatility on the underlying sales contracts. These instruments are cash closed out on maturity and the related cost or benefit is passed through to customers. Information about commodity price exposure is derived from supply forecasts submitted by customers and these exposures are hedged by central treasury units. Changes in the fair value of commodity hedges are recognized in AOCI. The cumulative amount of the hedge is recognized in the consolidated statements of income when the forecasted transaction is realized. The Company had the following outstanding commodity contracts to hedge forecasted purchases: June 30, 2026 June 30, 2025 Commodity Volume Volume Aluminum 23,746 tons 29,354 tons Aluminum Premium (1) 7,334 tons — PET resin 560,000 lbs. 5,840,909 lbs. (1)Aluminum Premium represents the regional cost to obtain physical delivery of aluminum and includes shipping, insurance, taxes and freight to a designated offloading harbor in a certain region. 83 The following table provides the location of derivative instruments in the consolidated balance sheets: ($ in millions) Balance Sheet Location June 30, 2026 June 30, 2025 Assets Derivatives in cash flow hedging relationships: Commodity contracts Other current assets $ 5 $ 1 Forward exchange contracts Other current assets 3 6 Total current derivative contracts 8 7 Total non-current derivative contracts — — Total derivative asset contracts $ 8 $ 7 Liabilities Derivatives in cash flow hedging relationships: Commodity contracts Other current liabilities $ 2 $ 3 Forward exchange contracts Other current liabilities 4 4 Derivatives in net investment hedge relationships: Cross currency swaps Other current liabilities 233 294 Derivatives not designated as hedging instruments: Forward exchange contracts Other current liabilities 1 1 Cross currency swaps Other current liabilities 92 114 Total current derivative contracts 332 416 Derivatives in fair value hedging relationships: Interest rate swaps Other non-current liabilities 60 63 Cross currency swaps Other non-current liabilities 79 89 Total non-current derivative contracts 139 152 Total derivative liability contracts $ 471 $ 568 Refer to Note 11, "Fair Value Measurements", for further information about the fair value of the derivative instruments, by level, within the fair value hierarchy. Certain derivative financial instruments are subject to master netting arrangements and are eligible for offset. The Company has made an accounting policy election not to offset the fair values of these instruments within the consolidated balance sheets. 84 The following tables provide the effects of derivative instruments on AOCI and in the consolidated statements of income: Location of Gain / (Loss) Reclassified from AOCI into Income Gain / (Loss) Reclassified from AOCI into Income (Effective Portion) Years ended June 30, ($ in millions) 2026 2025 2024 Derivatives in cash flow hedging relationships: Commodity contracts Cost of sales $ 6 $ 1 $ (2) Forward exchange contracts Net sales — 1 1 Treasury locks Interest expense (3) (3) (3) Total $ 3 $ (1) $ (4) Location of Gain / (Loss) Recognized in the Consolidated Income Statements Gain / (Loss) Recognized in Income for Derivatives not Designated as Hedging Instruments Years ended June 30, ($ in millions) 2026 2025 2024 Derivatives not designated as hedging instruments: Forward exchange contracts Other income/(expenses), net $ — $ (2) $ 15 Interest rate swaps Other income/(expenses), net — — (16) Cross currency swaps Other income/(expenses), net 23 (22) — Total $ 23 $ (24) $ (1) . Location of Gain Recognized in the Consolidated Income Statements Gain Recognized in Income for Derivatives in Fair Value Hedging Relationships Years ended June 30, ($ in millions) 2026 2025 2024 Derivatives in fair value hedging relationships: Interest rate swaps Interest expense $ 3 $ 29 $ 4 Cross currency swaps (1) Interest expense 15 16 2 Cross currency swaps Other income/(expenses), net 6 (55) (8) Total $ 24 $ (10) $ (2) (1)Represents the gains for amounts excluded from the effectiveness testing. 85 The changes in AOCI for effective derivatives were as follows: Years ended June 30, ($ in millions) 2026 2025 2024 Amounts reclassified into earnings: Commodity contracts $ (6) $ (1) $ 2 Forward exchange contracts — (1) (1) Treasury locks 3 3 3 Cross currency swaps (6) — — Fair value gains / (losses): Commodity contracts 11 2 1 Forward exchange contracts (2) (2) 1 Cross currency swaps 58 (75) (10) Tax effect (7) 17 (1) Total $ 51 $ (57) $ (5) 86 Note 13 - Defined Benefit Plans The Company sponsors both funded and unfunded defined benefit pension plans that include statutory and mandated benefit provision in various countries as well as voluntary plans. Voluntary plans are generally closed to new joiners. The Company’s principal defined benefit plans are in the United States, Switzerland, United Kingdom, and Germany. The United States plans are closed to new entrants and mostly closed to future accruals, and are funded. The Swiss principal plan is open to new entrants, and is funded. The United Kingdom benefit plans are closed to new entrants and mostly closed to future accruals, and are funded. The German principal plans are closed to new entrants and mostly closed to future accruals, and are unfunded. In December 2025, certain defined benefit pension plans in the United States were merged to form the Amcor Combined Pension Plan ("ACPP"). The ACPP was subsequently terminated effective December 31, 2025. Benefits for participants who elected a lump sum distribution were settled through payments made in June 2026. In addition, a bulk annuity transaction with Fidelity & Guaranty Life Insurance Company was completed in June 2026 to secure the pension obligations for the remaining participants. As a result of the plan termination and settlement activities, the Company recognized a non-cash pension settlement charge of approximately $9 million during fiscal year 2026. Following completion of the termination and settlement processes, the Company had a remaining pre-tax surplus balance of approximately $20 million as of June 30, 2026. This amount is included in Prepaid expenses and other current assets in the Consolidated Balance Sheets as of June 30, 2026. The Company is currently completing a data reconciliation process, with final cash settlement expected in December 2026. In July 2025, the Trustee of the Amcor Holding 2023 UK Pension Plan purchased bulk annuities with Rothesay Life Plc (“Rothesay”) to insure benefits for a subgroup of members’ within the plan. Benefits payable to all members are now covered by an insurance policy with Rothesay or by an insurance policy with Aviva (purchased in 2017). The bulk annuity contracts are held as assets of the relevant section of the Plan. During the fourth quarter of fiscal year 2025, the Company contracted with Fidelity & Guaranty Life Insurance Company on a retiree annuity purchase program and transferred $110 million of its pension plan assets and related benefit obligations related to two principal defined benefit plans in the United States. This transaction necessitated a remeasurement of the pension plan assets and obligations and resulted in a non-cash settlement charge of approximately $7 million. During the second quarter of fiscal year 2025, payments were made to certain eligible active and terminated vested participants, in one of the Company's closed principal funded defined benefit plans in the United States, who opted to receive a lump-sum payment. The settlement reduced both the projected benefit obligation and fair value of plan assets of the plan by $27 million and resulted in a non-cash settlement charge of approximately $2 million. Net periodic benefit cost for benefit plans includes the following components: Years ended June 30, ($ in millions) 2026 2025 2024 Service cost $ 26 $ 19 $ 18 Interest cost 88 58 50 Expected return on plan assets (97) (61) (57) Amortization of net loss 3 7 3 Amortization of prior service credit (2) (3) (4) Curtailment credit — — (1) Settlement costs 13 12 3 Net periodic benefit cost $ 31 $ 32 $ 12 87 Changes in benefit obligations and plan assets were as follows: ($ in millions) June 30, 2026 June 30, 2025 Change in benefit obligation: Benefit obligation at the beginning of the year $ 1,988 $ 1,227 Service cost 26 19 Interest cost 88 58 Participant contributions 7 6 Actuarial (gain)/loss 16 (31) Settlements (263) (157) Benefits paid (107) (77) Administrative expenses (9) (5) Acquisitions and divestitures 3 860 Other (3) — Foreign currency translation (37) 88 Benefit obligation at the end of the year $ 1,709 $ 1,988 Accumulated benefit obligation at the end of the year $ 1,671 $ 1,942 Change in plan assets: Fair value of plan assets at the beginning of the year $ 1,684 $ 1,033 Actual return on plan assets 97 17 Employer contributions 80 51 Participant contributions 7 6 Benefits paid (107) (77) Settlements (263) (157) Administrative expenses (9) (5) Acquisitions and divestitures 9 739 Foreign currency translation (32) 77 Fair value of plan assets at the end of the year $ 1,467 $ 1,684 Funded status at the end of the year $ (243) $ (304) During fiscal year 2026, actuarial losses were primarily due to higher inflation assumptions in the United Kingdom and Eurozone, lower discount rates for plans in Switzerland and the United States, and updates to mortality and other assumptions. These losses were partially offset by actuarial gains resulting from higher discount rates in the Eurozone and certain plans in the United Kingdom and lower salary increase assumptions for certain plans in the European Union. The weighted-average discount rate for the Company's pension plans decreased by 0.1% during fiscal year 2026, compared with an increase of 0.5% during fiscal year 2025. Favorable asset returns, particularly in Switzerland and the United States, together with employer contributions, contributed to the improvement in the funded status of the Company's defined benefit plans during fiscal year 2026. During fiscal year 2025, the Merger resulted in an increase of the net liability by $123 million at April 30, 2025, partially offset by a decrease of approximately $2 million relating to the divestiture of Bericap and a non-core business. The following table provides information for defined benefit plans with a projected benefit obligation in excess of plan assets: ($ in millions) June 30, 2026 June 30, 2025 Projected benefit obligation $ 1,188 $ 1,298 Fair value of plan assets 868 934 88 The following table provides information for defined benefit plans with an accumulated benefit obligation in excess of plan assets: ($ in millions) June 30, 2026 June 30, 2025 Accumulated benefit obligation $ 1,163 $ 1,261 Fair value of plan assets 862 920 The following table provides information as to how the funded status is recognized in the consolidated balance sheets: ($ in millions) June 30, 2026 June 30, 2025 Current assets - Prepaid expenses and other current assets $ 20 $ — Non-current assets - Employee benefit assets 57 60 Current liabilities - Other current liabilities (11) (12) Non-current liabilities - Employee benefit obligations (309) (352) Funded status $ (243) $ (304) Amounts recognized in other comprehensive (income)/loss are as follows: Years ended June 30, ($ in millions) 2026 2025 2024 Changes in plan assets and benefit obligations recognized in other comprehensive (income)/loss: Net actuarial loss occurring during the year $ 16 $ 12 $ 57 Net prior service loss occurring during the year — 1 1 Amortization of actuarial loss (3) (7) (3) Gain recognized due to settlement/curtailment (13) (12) (2) Amortization of prior service credit 2 3 4 Acquisition related loss 1 — — Tax effect (2) 1 (12) Total recognized in other comprehensive (income)/loss $ 1 $ (2) $ 45 Amounts in AOCI that have not yet been recognized as net periodic benefit cost are as follows: June 30, ($ in millions) 2026 2025 2024 Net prior service credit $ (9) $ (11) $ (13) Net actuarial loss 188 192 181 Accumulated other comprehensive loss at the end of the year $ 179 $ 181 $ 168 Weighted-average assumptions used to determine benefit obligations were: June 30, 2026 2025 2024 Discount rate 4.6 % 4.7 % 4.2 % Rate of compensation increase 1.9 % 1.9 % 1.9 % 89 Weighted-average assumptions used to determine net periodic benefit cost were: Years ended June 30, 2026 2025 2024 Discount rate 4.7 % 4.2 % 4.3 % Rate of compensation increase 1.9 % 1.9 % 1.9 % Expected long-term rate of return on plan assets 5.8 % 5.2 % 5.5 % Where funded, the Company and, in some countries, the employees make cash contributions into the pension funds. In the case of unfunded plans, the Company is responsible for benefit payments as they fall due. Plan funding requirements are generally determined by local regulation and/or best practice and differ between countries. The local statutory funding positions are not necessarily consistent with the funded status disclosed on the consolidated balance sheets. For any funded plans in deficit (as measured under local country guidelines), the Company agrees with the trustees and plan fiduciaries to undertake suitable funding programs to provide additional contributions over time in accordance with local country requirements. Contributions to the Company's defined benefit pension plans, not including unfunded plans, are expected to be $65.1 million during the next 12 months. The following benefit payments for the succeeding five years and thereafter, which reflect expected future service, as appropriate, are expected to be paid for the fiscal years ending June 30: ($ in millions) 2027 $ 105 2028 105 2029 102 2030 110 2031 111 Thereafter 568 The ERISA Benefit Plan Committee in the United States, the Pension Plan Committee in Switzerland, and the Trustees of the pension plans in the United Kingdom establish investment policies, investment strategies, allocation strategies, and investment risk profiles for the Company's pension plan assets and are required to consult with the Company on changes to their investment policy. The German plans are unfunded and liability management is the responsibility of the Board of Directors of the sponsoring entities. A proportion of the German plan liabilities are indemnified under a Contractual Trust Agreement, which is administered by an independent third party. In developing the expected long-term rate of return on plan assets at each measurement date, the Company considers the plan assets' historical returns, asset allocations, and the anticipated future economic environment and long-term performance of the asset classes. While appropriate consideration is given to recent and historical investment performance, the assumption represents management's best estimate of the long-term prospective return. The pension plan assets measured at fair value were as follows: June 30, 2026 ($ in millions) Level 1 Level 2 Level 3 Total Equity securities $ 152 $ 6 $ — $ 158 Debt securities (1) (65) 719 — 654 Real estate 9 66 99 174 Insurance contracts — — 407 407 Cash and cash equivalents 24 7 — 31 Other 8 28 7 43 Total $ 128 $ 826 $ 513 $ 1,467 (1)This category includes repurchase agreement ("repo") positions utilized within certain pension schemes' liability-driven investment ("LDI") strategies. Under a repo, cash is borrowed from a counterparty against bond collateral and invested in additional fixed income assets, resulting in the recognition of both an asset (the acquired securities) and a corresponding repo liability representing the obligation to repay the borrowing. Repo arrangements are used to efficiently manage liquidity and obtain exposure to fixed-income assets. Securities subject to repo arrangements are classified as Level 2 in the fair value hierarchy. The related repo liabilities are classified as Level 1, reflecting valuation based on quoted market prices in active markets. 90 June 30, 2025 ($ in millions) Level 1 Level 2 Level 3 Total Equity securities $ 133 $ 124 $ — $ 257 Debt securities 365 256 103 724 Real estate 8 87 54 149 Insurance contracts — — 308 308 Cash and cash equivalents 187 17 — 204 Other 7 27 8 42 Total $ 700 $ 511 $ 473 $ 1,684 Equity securities: Valued primarily at the closing prices reported in the active market in which the individual securities are traded (Level 1); or based on significant observable inputs such as fund values provided by the independent fund administrators (Level 2). Debt securities: Consists of government and corporate debt securities, valued at the closing prices reported in the active market in which the individual securities are traded (Level 1); or based on observable inputs such as fund values provided by independent fund administrators, pricing of similar agency issues, reported trades, broker/dealer quotes, issuer spread, live trading feeds from several vendors, and benchmark yields (Level 2); or based on a cashflow analysis of the discounted value of the promised principal at maturity less an estimate of defaults (Level 3). Inputs may be prioritized differently at certain times based on market conditions. Real estate: Valued at the closing prices reported in the active market in which the individual securities are traded (Level 1); or based on observable inputs such as fund values provided by independent fund administrators (Level 2); or based on independent property valuations using the income approach, comparable sales, and market trends (Level 3). Insurance contracts: Valued based on the present value of the underlying insured liabilities (Level 3). Cash and cash equivalents: Consists of cash on deposit with brokers and short-term money market funds, shown net of receivables and payables for securities traded at period end but not yet settled (Level 1) and cash indirectly held across investment funds (Level 2). All cash and cash equivalents are stated at cost, which approximates fair value. Other: Level 1: Derivatives valued at the closing prices reported in the active market. Level 2: Assets held in diversified growth funds, pooled funds, financing funds, and derivatives, where the values of the assets are determined by the investment managers or other independent third parties, based on observable inputs. Level 3: Indemnified plan assets and pooled funds (equity, credit, macro-orientated, multi-strategy, cash, and other). The values of indemnified plan assets are determined based on the value of the liabilities that the assets cover. The value of the pooled funds is calculated by the investment managers based on the net asset values of the underlying portfolios. The following table sets forth a summary of changes in the value of the Company's Level 3 plan assets: ($ in millions) Balance as of June 30, 2025 $ 473 Actual return on plan assets 1 Purchases, sales, and settlements 36 Transfer into Level 3 18 Foreign currency translation (15) Balance as of June 30, 2026 $ 513 91 Note 14 - Debt Long-Term Debt The following table summarizes the carrying value of long-term debt as of June 30, 2026, and 2025, respectively: June 30, ($ in millions) Maturities Interest rates 2026 2025 Term debt First Priority Senior Secured Notes, $1,525 million (3) Jan 2026 1.57 % $ — $ 1,525 U.S. dollar notes, $600 million (3) Apr 2026 3.63 % — 600 First Priority Senior Secured Notes, $750 million (3) Jul 2026 4.88 % — 750 U.S. dollar notes, $300 million (3) Sep 2026 3.10 % 300 300 U.S. dollar notes, $400 million (3) Jan 2027 1.65 % 400 400 Euro bonds, €375 million (3) (4) Jan 2027 1.50 % 429 439 Euro bonds, €500 million (3) Jun 2027 1.13 % 571 585 U.S. dollar notes, $725 million Mar 2028 4.80 % 725 725 U.S. dollar notes, $500 million Apr 2028 5.50 % 500 500 U.S. dollar notes, $500 million (5) May 2028 4.50 % 500 500 U.S. dollar notes, $750 million (2) Mar 2029 4.25 % 750 — U.S. dollar notes, $500 million May 2029 5.45 % 500 500 Euro notes, €750 million (1) Nov 2029 3.20 % 857 — U.S. dollar notes, $725 million Mar 2030 5.10 % 725 725 U.S. dollar notes, $500 million Jun 2030 2.63 % 500 500 U.S. dollar notes, $800 million (5) May 2031 2.69 % 800 800 U.S. dollar notes, $800 million Jun 2031 5.80 % 800 800 Euro notes, €500 million May 2032 3.95 % 571 585 Euro notes, €750 million (1) Feb 2033 3.75 % 857 — U.S. dollar notes, $500 million May 2033 5.63 % 500 500 U.S. dollar notes, $800 million Jan 2034 5.65 % 800 800 U.S. dollar notes, $750 million Mar 2035 5.50 % 750 750 U.S. dollar notes, $750 million (2) Mar 2036 5.13 % 750 — Total term debt (7) $ 12,585 $ 12,284 Bank loans $ 11 $ 23 Commercial paper (3) 1,294 1,702 Other loans 29 33 Finance lease obligations 44 56 Fair value hedge accounting adjustments (6) (60) (63) Unamortized discounts and debt issuance costs (26) (53) Total debt $ 13,877 $ 13,982 Less: current portion (15) (141) Total long-term debt $ 13,862 $ 13,841 (1)On November 12, 2025, the Company issued additional guaranteed senior euro notes in an aggregate principal amount of €1.5 billion (collectively, the “November Notes”). The November Notes consist of (i) €750 million principal amount of 3.20% Guaranteed Senior Notes due 2029 and (ii) €750 million principal amount of 3.75% Guaranteed Senior Notes due 2033. The November Notes are senior unsecured obligations and are unconditionally guaranteed on a senior unsecured basis by the Company and certain of its subsidiaries. The Company used the net proceeds from the Notes to repay certain existing indebtedness of Berry in connection with the closing of the Merger. (2)On March 5, 2026, the Company issued additional guaranteed senior notes in an aggregate principal amount of $1.5 billion (collectively, the “March Notes”). The March Notes consist of (i) $750 million principal amount of 4.25% Guaranteed Senior Notes 92 due 2029 and (ii) $750 million principal amount of 5.125% Guaranteed Senior Notes due 2036. The March Notes are senior unsecured obligations and are unconditionally guaranteed on a senior unsecured basis by the Company and certain of its subsidiaries. (3)Indicates debt which has been classified as long-term liabilities in accordance with the Company’s ability and intent to refinance such obligations on a long-term basis. (4)The €375 million bond that was assumed as a result of the Merger is designated as a Net Investment Hedge. (5)Bonds linked to designated fair value interest rate hedging relationships. There is a corresponding fair value basis adjustment to the carrying value of these bonds. (6)Relates to fair value hedge basis adjustments relating to interest rate hedging. (7)Aggregate bond values presented at par. The following table summarizes the contractual maturities of the Company's long-term debt, including current maturities (excluding payments for finance leases) as of June 30, 2026, for the succeeding five fiscal years ending June 30: ($ in millions) 2027 $ 1,704 2028 1,726 2029 1,250 2030 (1) 3,376 2031 1,600 Thereafter 4,263 (1) Commercial paper is classified as maturing in 2030, supported by the 5-year syndicated facility, with two 12-month options available to the Company to extend the maturity date. Bank and other loans In connection with the Merger (refer to Note 4, "Acquisitions and Divestitures"), the Company entered into a commitment letter with lending institutions, dated as of November 19, 2024, to provide a 364-day senior unsecured bridge loan facility (the "Bridge Facility") in an aggregate principal amount of up to $3.0 billion to fund the repayment of certain outstanding debt of Berry upon the closing of the Merger, and the payment of fees and expenses related to the Merger. The Company paid a commitment fee of $11 million on the Bridge Facility in the three months ended December 31, 2024. On February 13, 2025, the Company voluntarily reduced the commitments under the Bridge Facility by $800 million to an aggregate principal amount of $2.2 billion. On March 17, 2025, following the issuance of Notes (as defined above), the commitment for the Bridge Facility was terminated and the balance of the unamortized commitment fee of $8 million was expensed. The Company has entered into syndicated and bilateral multi-currency credit facilities with financial institutions. On March 3, 2025, the Company terminated its previous three- and five-year syndicated facility agreements, which collectively provided for $3.75 billion of credit facilities. On the same day, the Company entered into a five-year syndicated facility agreement of $3.75 billion which is unsecured and has a contractual maturity in March 2030. The agreement includes customary terms and conditions for a syndicated facility of this nature, and the facility has two 12 month options available to management to extend the maturity date. Subject to certain conditions, the Company can request the total commitment level under the agreement to be increased by up to $1.0 billion. Interest charged on borrowings under the credit facility is based on the applicable market rate plus the applicable margin. The three-year syndicated facility agreement also contains a covenant to maintain a net leverage ratio not to exceed 3.9:1.00, stepping up to a net leverage ratio not to exceed 4.25:1.00 for the twelve consecutive calendar months following the consummation of an acquisition with aggregate consideration in excess of $375 million. Interest charged on borrowings under the credit facilities is based on the applicable market rate plus the applicable margin. As of June 30, 2026 and 2025, the Company's credit facility amounted to $3.75 billion. As of June 30, 2026, and 2025, the Company had $2.46 billion and $2.05 billion of undrawn commitments, respectively. The Company incurs facility fees of 0.11% on the undrawn commitments. Such facility fees incurred were immaterial in the fiscal years ended June 30, 2026, 2025, and 2024, respectively. As of June 30, 2026, and 2025, land and buildings with a carrying value of $38 million and $51 million, respectively, have been pledged as security for bank and other loans. 93 Redemption of term debt The Company may redeem its long-term debt, in whole or in part, at any time or from time to time prior to its maturity. The redemption prices typically represent 100% of the principal amount of the relevant debt plus any accrued and unpaid interest. In addition, for notes that are redeemed by the Company before their stated permitted redemption date, a make-whole premium is payable. On January 15, 2026, the Company completed the redemption of its 1.57% First Priority Senior Secured Notes with an aggregate principal amount of $1,525 million. On April 15, 2026, the Company completed the early redemption of its 4.875% First Priority Senior Secured Notes with an aggregate principal amount of $750 million, originally scheduled to mature in July 2026. The Company incurred approximately $9 million of coupon payment associated with the early redemption in the fourth quarter of fiscal year 2026. On April 28, 2026, the Company completed the redemption of its 3.625% First Priority Senior Secured Notes with an aggregate principal amount of $600 million. Priority, Guarantees, and Financial Covenants All the notes are general unsecured senior obligations of the Company and are fully and unconditionally guaranteed on a joint and several basis by certain existing subsidiaries that guarantee its other indebtedness. The Company's primary bank debt facilities and notes are unsecured and subject to negative pledge arrangements limiting the amount of secured indebtedness the Company can incur and indebtedness outside the guarantor group to 15.0% of total tangible assets, subject to some exceptions and variations by facility. The Company is required to satisfy certain financial covenants pursuant to its bank debt facilities, which are tested as of the last day of each quarterly and annual financial period. The covenants require the Company to maintain a leverage ratio of not higher than 3.9 times, stepping up to 4.25 times for the twelve consecutive calendar months following the consummation of an acquisition with an aggregate consideration in excess of $375 million. As of June 30, 2026, and 2025, the Company was in compliance with all debt covenants. Short-Term Debt Short-term debt is generally used to fund working capital requirements. The Company has classified commercial paper as long-term as of June 30, 2026, in accordance with the Company’s ability and intent to refinance such obligations on a long-term basis. The following table summarizes the carrying value of short-term debt as of June 30, 2026, and 2025, respectively: June 30, ($ in millions) 2026 2025 Bank loans $ 63 $ 79 Secured borrowings 1 1 Bank overdrafts 70 36 Total short-term debt $ 135 $ 116 As of June 30, 2026, the Company paid a weighted-average interest rate of 3.98% per annum on short-term debt, payable at maturity. As of June 30, 2025, the Company paid a weighted-average interest rate of 4.39% per annum, payable at maturity. 94 Note 15 - Leases The components of lease expense are as follows: Years ended June 30, ($ in millions) 2026 2025 2024 Operating lease expense (1) $ 289 $ 167 $ 135 Short-term and variable lease expense (2) 39 27 14 Finance lease expense Amortization of right-of-use assets (2) 6 4 4 Interest on lease liabilities (3) 2 1 1 Total lease expense $ 336 $ 199 $ 154 (1)Included in both cost of sales and selling, general, and administrative expenses (2)Included primarily in cost of sales (3)Included in interest expense Supplemental balance sheet information related to leases: June 30, ($ in millions) Balance Sheet Location 2026 2025 Assets Operating lease right-of-use assets, net Operating lease assets $ 1,039 $ 1,116 Finance lease assets, net (1) Property, plant, and equipment, net 35 75 Total lease assets, net $ 1,074 $ 1,191 Liabilities Operating leases: Current operating lease liabilities Other current liabilities $ 216 $ 240 Non-current operating lease liabilities Operating lease liabilities 852 910 Finance leases: Current finance lease liabilities Current portion of long-term debt 13 15 Non-current finance lease liabilities Long-term debt, less current portion 31 41 Total lease liabilities $ 1,112 $ 1,206 (1)Finance lease assets are recorded net of accumulated amortization of $11 million and $15 million as of June 30, 2026 and 2025, respectively. 95 Supplemental cash flow information related to leases: Years ended June 30, ($ in millions) 2026 2025 2024 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 285 $ 159 $ 127 Operating cash flows from finance leases 2 1 1 Financing cash flows from finance leases 16 12 11 Lease assets obtained in exchange for new lease obligations: Operating leases (1) $ 82 $ 639 $ 44 Finance leases 2 20 3 Other non-cash modifications to lease assets: Operating leases $ 43 $ 20 $ 73 Finance leases (36) — — (1)Fiscal year 2025 primarily includes operating leases acquired in the Merger. The following table presents the maturities of the Company's lease liabilities recorded on the consolidated balance sheets as of the fiscal year ending June 30, 2026: ($ in millions) Operating Leases Finance Leases 2027 $ 253 $ 14 2028 228 5 2029 189 4 2030 128 3 2031 97 3 Thereafter 380 27 Total lease payments 1,275 56 Less: imputed interest (207) (12) Total lease liabilities $ 1,068 $ 44 The Company's leases do not contain any material residual value guarantees or material restrictive covenants. The table above excludes approximately $40 million of minimum lease payments relating to operating leases for which the Company has committed to, but which have not yet commenced as of June 30, 2026. The weighted-average remaining lease term and discount rate are as follows: June 30, 2026 2025 Weighted-average remaining lease term (in years): Operating leases 7.3 7.7 Finance leases 12.0 9.3 Weighted-average discount rate: Operating leases 4.6 % 4.6 % Finance leases 4.2 % 3.9 % 96 Note 16 - Shareholders' Equity The changes in ordinary and treasury shares during fiscal years 2026, 2025, and 2024, were as follows: Ordinary Shares Treasury Shares (shares and $ in millions) Number of Shares Amount Number of Shares Amount Balance as of June 30, 2023 289.7 $ 14 0.2 $ (12) Share buyback/cancellations (0.7) — — — Shares vested — — (0.8) 49 Purchase of treasury shares — — 0.8 (48) Balance as of June 30, 2024 289.0 14 0.2 (11) Options exercised and shares vested — — (0.9) 52 Purchase of treasury shares — — 0.8 (47) Acquisition of Berry Global Group, Inc. 172.1 9 — — Balance as of June 30, 2025 461.1 23 0.1 (6) Options exercised and shares vested — — (1.5) 75 Purchase of treasury shares — — 0.5 (29) Issuance of shares 1.3 — 1.3 (56) Balance as of June 30, 2026 462.3 $ 23 0.4 $ (16) The changes in the components of accumulated other comprehensive loss during the fiscal years ended June 30, 2026, 2025, and 2024 were as follows: Foreign Currency Translation Net Investment Hedge Pension Effective Derivatives Total Accumulated Other Comprehensive Loss ($ in millions) (Net of Tax) (Net of Tax) (Net of Tax) (Net of Tax) Balance as of June 30, 2023 $ (823) $ (13) $ (10) $ (16) $ (862) Other comprehensive loss before reclassifications (108) — (46) (9) (163) Amounts reclassified from accumulated other comprehensive loss — — 1 4 5 Net current period other comprehensive income / (loss) (108) — (45) (5) (158) Balance as of June 30, 2024 (931) (13) (55) (21) (1,020) Other comprehensive income / (loss) before reclassifications 13 (60) (14) (8) (69) Amounts reclassified from accumulated other comprehensive loss 8 — 16 2 26 Net current period other comprehensive income / (loss) 21 (60) 2 (6) (43) Balance as of June 30, 2025 (910) (73) (53) (27) (1,063) Other comprehensive income/(loss) before reclassifications 46 66 (15) 11 108 Amounts reclassified from accumulated other comprehensive loss 18 (6) 14 (2) 24 Net current period other comprehensive income/(loss) 64 60 (1) 9 132 Balance as of June 30, 2026 $ (846) $ (13) $ (54) $ (18) $ (931) 97 The following tables provide details of amounts reclassified from accumulated other comprehensive loss: For the years ended June 30, ($ in millions) 2026 2025 2024 Pension: Amortization of prior service credit $ (2) $ (3) $ (4) Amortization of actuarial loss 3 7 3 Effect of pension settlement/curtailment 13 12 2 Total before tax effect 14 16 1 Tax effect on amounts reclassified into earnings — — — Total net of tax $ 14 $ 16 $ 1 (Gains)/losses on cash flow hedges: Commodity contracts $ (6) $ (1) $ 2 Forward exchange contracts — (1) (1) Treasury locks 3 3 3 Total before tax effect (3) 1 4 Tax effect on amounts reclassified into earnings 1 1 — Total net of tax $ (2) $ 2 $ 4 Gains on net investment hedges: Cross currency swaps $ (6) $ — $ — Total before tax effect (6) — — Tax effect on amounts reclassified into earnings — — — Total net of tax $ (6) $ — $ — Losses on foreign currency translation: Foreign currency translation adjustment (1) $ 18 $ 8 $ — Total before tax effect 18 8 — Tax effect on amounts reclassified into earnings — — — Total net of tax $ 18 $ 8 $ — (1)During the fiscal year ended June 30, 2026, the Company disposed of certain businesses identified as part of the strategic review of the Company's portfolio and transferred $18 million of accumulated foreign currency translation from accumulated other comprehensive loss to earnings. For further information, refer to Note 4, "Acquisitions and Divestitures". Forward contracts to purchase own shares The Company's employee share plans require the delivery of shares to employees in the future when rights vest or vested options are exercised. The Company acquires shares on the open market to deliver shares to employees to satisfy vesting or exercising commitments which exposes the Company to market price risk. To protect the Company from share price volatility, the Company has entered into forward contracts for the purchase of its ordinary shares. As of June 30, 2026, the Company had forward contracts outstanding which mature in May 2027 and June 2027 to purchase a total of 0.5 million shares at a weighted-average price of $38.87. As of June 30, 2025, the Company had forward contracts outstanding that were entered into in September 2022 to purchase 0.4 million shares at a weighted-average price of $60.80. During the first quarter of fiscal year 2026, the Company settled the forward contracts which were outstanding as of June 30, 2025. The forward contracts to purchase the Company's own shares have been included in other current liabilities in the consolidated balance sheets. Equity is reduced by an amount equal to the fair value of the shares at inception. The carrying value of the forward contracts at each reporting period was determined based on the present value of the cost required to settle the contracts. 98 Note 17 - Income Taxes Amcor plc is a tax resident of the United Kingdom of Great Britain and Northern Ireland ("UK"). The components of income before income taxes and equity in income/(loss) of affiliated companies were as follows: Years ended June 30, ($ in millions) 2026 2025 2024 Domestic (UK) $ 37 $ (210) $ (108) Foreign 1,245 860 1,015 Total income before income taxes and equity in income/(loss) of affiliated companies $ 1,282 $ 650 $ 907 Income tax expense consisted of the following: Years ended June 30, ($ in millions) 2026 2025 2024 Current tax: Domestic (UK) $ 20 $ 1 $ 2 Foreign 257 259 198 Total current tax 277 260 200 Deferred tax: Domestic (UK) (6) (17) 18 Foreign (90) (108) (55) Total deferred tax (96) (125) (37) Income tax expense $ 181 $ 135 $ 163 The following is a reconciliation of income tax computed at the United Kingdom statutory tax rate of 25.0%, for fiscal year 2026: ($ in millions) Year Ended June 30, 2026 Tax expense at UK statutory tax rate $ 320 25.0 % Foreign tax effects: United States of America: Effect of cross-border tax laws (34) (2.7) % Tax credits (23) (1.8) % Unified loss rules (45) (3.5) % Other, net (11) (0.8) % Australia: Changes in valuation allowance (31) (2.4) % Other, net 7 0.6 % Other foreign jurisdictions, net 23 1.8 % Other adjustments, net 7 0.4 % Changes in unrecognized tax benefits, net (32) (2.5) % Income tax expense $ 181 14.1 % The following is a reconciliation of income tax computed at the United Kingdom statutory tax rate of 25.0% for fiscal years 2025, and 2024 to income tax expense. 99 Years ended June 30, ($ in millions) 2025 2024 Income tax expense at statutory rate $ 163 $ 226 Foreign tax rate differential (3) (3) Non-deductible expenses, non-taxable items, net 33 (6) Change in valuation allowance (18) 3 Uncertain tax positions, net (18) (51) Other (1) (22) (6) Income tax expense $ 135 $ 163 (1)In fiscal year 2025, Other is comprised of adjustments to prior year which resulted in a $15 million benefit, movement in deferred tax positions with a $9 million benefit, effect of foreign currency exchange, changes in tax rates and other individually immaterial items. In fiscal year 2024, Other is comprised of adjustments to prior year provisions, movement in deferred tax positions, including a $15 million benefit from the Swiss Tax Reform, effects of foreign currency exchange rates, including a $14 million benefit from inflation adjustment in Argentina, partially offset by changes in tax rates, and other individually immaterial items. Amcor operates in over forty different jurisdictions with a wide range of statutory tax rates. The tax expense from operating in non-UK jurisdictions in excess of the UK statutory tax rate is included in the line "Foreign tax rate differential" in the above tax rate reconciliation table. For fiscal year 2026, the Company's effective tax rate was 14.1% as compared to the effective tax rates of 20.8% and 18.0% for fiscal years 2025 and 2024, respectively. The lower effective tax rate for fiscal year 2026 versus fiscal year 2025 is largely attributable to favorable return-to-provision adjustments recorded as current year discrete items identified upon completion of prior year income tax returns, movements in deferred tax positions including releases of valuation allowances, and changes in unrecognized tax benefits which are partially offset by non-deductible expenses related to the Merger. The higher effective tax rate for fiscal year 2025 versus fiscal year 2024 is largely attributable to non-deductible expenses in 2025 related to the Merger. Significant components of deferred tax assets and liabilities are as follows: June 30, ($ in millions) 2026 2025 Deferred tax assets: Inventories $ 24 $ 17 Accrued employee benefits 92 152 Derivatives and financial instruments 3 20 Provisions 22 32 Net operating loss carryforwards 696 708 Tax credit carryforwards 59 54 Accruals and other 107 64 Total deferred tax assets 1,003 1,047 Valuation allowance (610) (664) Net deferred tax assets 393 383 Deferred tax liabilities: Property, plant, and equipment (636) (821) Other intangible assets (1,528) (1,655) Undistributed foreign earnings (110) (171) Total deferred tax liabilities (2,274) (2,647) Net deferred tax liability (1,881) (2,264) Balance sheet location: Deferred tax assets 199 218 Deferred tax liabilities (2,080) (2,482) Net deferred tax liability $ (1,881) $ (2,264) 100 The Company maintains a valuation allowance on net operating losses and other deferred tax assets in jurisdictions for which it does not believe it is more likely than not to realize those deferred tax assets based upon all available positive and negative evidence, including historical operating performance, carry-back periods, reversal of taxable temporary differences, tax planning strategies, and earnings expectations. The Company's valuation allowance decreased by $54 million, increased by $261 million, and increased by $3 million for fiscal years 2026, 2025, and 2024, respectively. As of June 30, 2026, and 2025, the Company had total net operating loss carry forwards, including capital losses, in the amount of $2.2 billion and $2.3 billion, respectively, and tax credits of $59 million and $54 million, respectively. The vast majority of the net operating loss carry forwards and tax credits do not expire. The Company considers the following factors, among others, in evaluating its plans for indefinite reinvestment of its subsidiaries' earnings: (i) the forecasts, budgets, and financial requirements of the Company and its subsidiaries, both for the long-term and for the short-term; and (ii) the tax consequences of any decision to repatriate or reinvest earnings of any subsidiary. Upon distribution of such earnings in the form of dividends or otherwise, the Company may be subject to incremental foreign tax. It is not practicable to estimate the amount of foreign tax that might be payable. As of June 30, 2026, a cumulative deferred tax liability of $110 million has been recorded attributable to undistributed earnings that the Company has deemed are not indefinitely reinvested. The remaining undistributed earnings of the Company's subsidiaries are not deemed to be indefinitely reinvested and can be repatriated at no tax cost. Accordingly, there is no provision for income or withholding taxes on these earnings. The Company accounts for its unrecognized tax benefits in accordance with ASC 740, "Income Taxes." At June 30, 2026, and 2025, unrecognized tax benefits totaled $212 million and $224 million, respectively, all of which would favorably impact the effective tax rate if recognized. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in income tax expense. As of June 30, 2026, 2025, and 2024, the Company's accrual for interest and penalties for these uncertain tax positions was $45 million, $37 million, and $17 million, respectively. A reconciliation of the beginning and ending amount of unrecognized tax benefits for the fiscal years presented is as follows: June 30, ($ in millions) 2026 2025 2024 Balance at the beginning of the year $ 224 $ 104 $ 155 Additions related to acquisitions — 134 — Additions based on tax positions related to the current year 18 7 10 Additions for tax positions of prior years 48 3 7 Reductions for tax positions from prior years (75) (21) (39) Reductions for settlements — — (2) Reductions due to lapse of statute of limitations (3) (3) (27) Balance at the end of the year $ 212 $ 224 $ 104 The Company conducts business in a number of tax jurisdictions and, as such, is required to file income tax returns in multiple jurisdictions globally. The fiscal years 2022 through 2025 remain open for examination by the United States Internal Revenue Service ("IRS"), the fiscal years 2024 and 2025 remain open for examination by His Majesty’s Revenue & Customs ("HMRC"), and the fiscal years 2015 through 2025 are currently subject to audit or remain open for examination in various tax jurisdictions. The Company believes that its income tax reserves are adequately maintained taking into consideration both the technical merits of its tax return positions and ongoing developments in its income tax audits. However, the final determination of the Company's tax return positions, if audited, is uncertain and therefore there is a possibility that final resolution of these matters could have a material impact on the Company's results of operations or cash flows. The total amount of income taxes paid, net of refunds received, in 2026 is as follows: 101 ($ in millions) Year Ended June 30, 2026 United States of America $ 187 Germany 53 France 28 Switzerland 25 Canada 23 Rest of the world 135 Total income taxes paid (net of refunds received) $ 451 102 Note 18 - Share-based Compensation The Company's equity incentive plans include grants of share options, restricted share units, performance shares, performance rights, and share rights. In fiscal years 2026, 2025, and 2024, share options and performance rights or performance shares were granted to officers and employees. The exercise price for share options was set at the time of grant. The requisite service period for outstanding share options, performance rights, or performance shares ranges from three to four years. The option awards issued in fiscal year 2025 and prior to fiscal year 2025 and all performance rights and performance shares awards issued are subject to performance and market conditions. Share options issued in fiscal year 2026 have no performance or market conditions. At vesting, share options can be exercised and converted to ordinary shares on a one-for-one basis, subject to payment of the exercise price. The contractual terms of the share options range from six to ten years from the grant date. At vesting, performance rights can be exercised and converted to ordinary shares on a one-for-one basis. Performance shares vest automatically and convert to ordinary shares on a one-for-one basis. Restricted share units may be granted to directors, officers, and employees of the Company and vest on terms as described in the award. The restrictions prevent the participant from disposing of the restricted share units during the vesting period. The fair value of restricted share units is determined based on the closing price of the Company's shares on the grant date. Share rights may be granted to directors, officers, and employees of the Company and vest on terms as described in the award. The restrictions prevent the participant from disposing of the share rights during the vesting period. The fair value of share rights is determined based on the closing price of the Company's shares on the grant date, adjusted for dividend yield. In connection with the Merger, outstanding Berry share-based compensation and cash-settled awards (the "Berry Awards") including restricted stock unit (RSU) and performance share unit (PSU) awards were replaced with Amcor share rights and options awards with generally the same terms and conditions as the original awards subject to the terms of the Merger Agreement. Outstanding short-term Berry options were deemed fully vested at the close of the transaction and unvested options were converted into Amcor option awards with generally the same terms and conditions as the original awards subject to the terms of the Merger Agreement. The grant date of the Berry Awards is considered to be the Merger date for the purpose of the fair valuation of the awards. The aggregate grant date fair value of Berry Awards post-conversion amounted to $356 million of which $310 million related to pre-acquisition vesting and was therefore included as part of purchase consideration. As of June 30, 2026, 2 million shares were available for future grants under shareholder approved equity incentive plans. The Company uses treasury shares to settle share-based compensation obligations. Treasury shares were acquired through market purchases throughout the fiscal year for the required number of shares. The total share-based compensation expense settled in equity in fiscal years 2026, 2025, and 2024 amounted to $83 million, $74 million, and $32 million, respectively. Share-based compensation expense in fiscal years 2024 and 2026 was primarily recorded in selling, general, and administrative expenses in the consolidated statements of income. In fiscal year 2025 $34 million of accelerated share-based compensation expense relating to the Merger was recorded within restructuring, transaction and integration expenses, net, with the remainder of share-based compensation expense recorded within selling, general, and administrative expenses in the consolidated statements of income. As of June 30, 2026, the Company had $109 million of total unrecognized compensation cost related to all unvested share options and other equity incentive plans. That cost is expected to be recognized over a weighted-average period of 1.6 years. The weighted-average grant date fair values by type of equity incentive plan for awards granted in fiscal years 2026, 2025, and 2024 were as follows: Years ended June 30, (in $ per unit of award) 2026 2025 2024 Share options (1) $ 5.06 $ 9.37 $ 7.25 Restricted share units 41.49 52.98 47.21 Performance rights/shares (2) 33.69 41.60 31.85 Share rights 36.50 46.98 42.10 103 (1)The fair values of share options issued in fiscal year 2026 were determined using the Black-Scholes option pricing model. The fair values of shares options issued in fiscal years 2025 and 2024 were determined using the Black-Scholes option pricing model and Monte Carlo simulations. The following key assumptions were used for the fiscal years ended June 30, 2026, 2025, and 2024, respectively: risk-free interest rate of 3.8% (2025: 3.6%, 2024: 4.6%), expected share-price volatility of 23.9% (2025: 23.3%, 2024: 21.8%), expected dividend yield of 6.2% (2025: 5.0%, 2024: 5.2%), and expected life of options of 6.5 years (2025: 5.7 years, 2024: 6.6 years). (2)The fair values of performance rights/shares were determined using discounting and Monte Carlo simulations. The key assumptions for the fiscal years ended June 30, 2026, 2025, and 2024, respectively, were: risk-free interest rate of 3.5% (2025: 3.5%, 2024: 4.8%), expected share-price volatility of 23.3% (2025: 23.9%, 2024: 23.4%), and expected dividend yield of 6.2% (2025: 4.5%, 2024: 5.2%). Changes in outstanding share options were as follows: Share options Number Weighted-average Exercise Price (in millions) Share options outstanding at June 30, 2025 6.2 $ 50.88 Granted 5.2 41.43 Exercised (0.1) 40.39 Forfeited (2.7) 52.79 Share options outstanding at June 30, 2026 8.6 $ 44.77 Vested and exercisable at June 30, 2026 0.7 $ 58.22 As of June 30, 2026, the share options outstanding have an intrinsic value of $14 million and a remaining weighted-average contractual life of 7.9 years. As of June 30, 2026, the share options that have vested and are exercisable have an intrinsic value of zero and a remaining weighted-average contractual life of 0.7 years. The Company received $6 million, $15 million, and nil on the exercise of stock options during the fiscal years ended June 30, 2026, 2025, and 2024, respectively. During the fiscal years ended June 30, 2026, 2025, and 2024, the intrinsic value associated with the exercise of share options was $1 million, $5 million, and zero, respectively. The grant date fair value of share options vested was $2 million, $11 million, and $5 million for fiscal years ended June 30, 2026, 2025, and 2024, respectively. Changes in outstanding other equity incentive plans and the fair values vested are presented below: Restricted share units Performance rights/shares Share rights Number Weighted-average Grant Date Fair Value Number Weighted-average Grant Date Fair Value Number Weighted-average Grant Date Fair Value (in millions) (in millions) (in millions) Outstanding at June 30, 2025 0.5 $ 50.01 2.4 $ 37.63 3.4 $ 46.70 Granted 1.1 41.49 2.8 33.69 0.3 36.50 Vested (0.3) 48.07 — 37.34 (1.6) 46.09 Forfeited (0.1) 42.53 (1.1) 38.51 (0.1) 45.15 Outstanding at June 30, 2026 1.2 $ 41.93 4.1 $ 34.62 2.0 $ 45.81 Fair value vested ($ in millions) Restricted share units Performance rights/shares Share rights Year Ended June 30, 2026 $ 18 $ — $ 74 Year Ended June 30, 2025 8 25 15 Year Ended June 30, 2024 6 14 24 104 Note 19 - Earnings Per Share Computations The Company applies the two-class method when computing its earnings per share ("EPS"), which requires that net income per share for each class of share be calculated assuming all of the Company's net income is distributed as dividends to each class of share-based on their contractual rights. Basic EPS is computed by dividing net income available to ordinary shareholders by the weighted-average number of ordinary shares outstanding after excluding the ordinary shares to be repurchased using forward contracts and vested but unpaid ordinary shares. Diluted EPS includes the effects of share options, restricted share units, performance rights, performance shares, and share rights, if dilutive. Years ended June 30, ($ in millions, except per share amounts) 2026 2025 2024 Numerator Net income attributable to Amcor plc $ 1,106 $ 511 $ 730 Distributed and undistributed earnings attributable to shares to be repurchased — (1) (3) Net income available to ordinary shareholders of Amcor plc—basic and diluted $ 1,106 $ 510 $ 727 Denominator Weighted-average ordinary shares outstanding (1) 463.3 318.4 289.0 Weighted-average ordinary shares to be repurchased by Amcor plc (0.1) (0.5) (1.2) Weighted-average ordinary shares outstanding for EPS—basic 463.2 317.9 287.8 Effect of dilutive shares 0.6 0.7 0.3 Weighted-average ordinary shares outstanding for EPS—diluted 463.8 318.6 288.1 Per ordinary share income Basic earnings per ordinary share $ 2.39 $ 1.60 $ 2.53 Diluted earnings per ordinary share $ 2.38 $ 1.60 $ 2.52 (1) For the years ended June 30, 2026 and 2025, the calculation of weighted-average ordinary shares outstanding includes approximately 1.7 million and 0.3 million shares, respectively, that had not been issued as of June 30, 2026 and 2025, but whose issuance is not contingent on factors other than the passage of time. Certain stock awards outstanding were not included in the computation of diluted earnings per share above because they would not have had a dilutive effect. The excluded stock awards represented an aggregate of 6.1 million, 3.9 million, and 5.7 million shares for the years ended June 30, 2026, 2025, and 2024, respectively. Basic and diluted weighted-average ordinary shares outstanding have increased in fiscal years 2025 and 2026 due to the completion of the Merger with Berry and the related share issuances in the fourth quarter of fiscal year 2025. For further information, refer to Note 4, "Acquisitions and Divestitures". In fiscal year 2024, basic and diluted weighted-average ordinary shares outstanding decreased due to share repurchases. 105 Note 20 - Contingencies and Legal Proceedings Contingencies - Brazil The Company's operations in Brazil are involved in various governmental assessments and litigation, principally related to claims for excise and income taxes. The Company vigorously defends its positions and believes it will prevail on most, if not all, of these matters. The Company does not believe that the ultimate resolution of these matters will materially impact the Company's consolidated results of operations, financial position, or cash flows. Under customary local regulations, the Company's Brazilian subsidiaries may need to post cash or other collateral if a challenge to any administrative assessment proceeds to the Brazilian court system; however, the level of cash or collateral already pledged or potentially required to be pledged would not significantly impact the Company's liquidity. As of June 30, 2026, the Company has recorded accruals of $14 million, included in other non-current liabilities in the consolidated balance sheets. The Company has estimated a reasonably possible loss exposure in excess of the recorded accrual of $27 million as of June 30, 2026. The litigation process is subject to many uncertainties and the outcome of individual matters cannot be accurately predicted. The Company routinely assesses these matters as to the probability of ultimately incurring a liability and records the best estimate of the ultimate loss in situations where the likelihood of an ultimate loss is probable. The Company's assessments are based on its knowledge and experience, but the ultimate outcome of any of these matters may differ from the Company's estimates. As of June 30, 2026, the Company provided letters of credit of $20 million, judicial insurance of $1 million, and deposited cash of $17 million with the courts to continue to defend the cases referenced above. Contingencies - Environmental Matters The Company, along with others, has been identified as a potentially responsible party ("PRP") at several waste disposal sites under U.S. federal and related state environmental statutes and regulations and may face potentially material environmental remediation obligations. While the Company benefits from various forms of insurance policies, actual coverage may not, or may only partially, cover the total potential exposures. As of June 30, 2026, the Company has recorded aggregate accruals of $10 million for its share of estimated future remediation costs at these sites. In addition to the matters described above, as of June 30, 2026, the Company has also recorded aggregate accruals of $59 million for potential liabilities for remediation obligations at various worldwide locations that are owned or operated by the Company or were formerly owned or operated. The SEC requires the Company to disclose certain information about proceedings arising under federal, state, or local environmental provisions if the Company reasonably believes that such proceeding may result in monetary sanctions above a stated threshold. Pursuant to SEC regulations, the Company uses a threshold of $1 million or more for purposes of determining whether disclosure of any such proceedings is required. Applying this threshold, there are no environmental matters required to be disclosed for the fiscal year ended June 30, 2026. While the Company believes that its accruals are adequate to cover its future obligations, there can be no assurance that the ultimate payments will not exceed the accrued amounts. Nevertheless, based on the available information, the Company does not believe that its potential environmental obligations will have a material adverse effect upon its liquidity, results of operations, or financial condition. Other Matters In the normal course of business, the Company is subject to legal proceedings, lawsuits, and other claims. While the potential financial impact with respect to these ordinary course matters is subject to many factors and uncertainties, management believes that any financial impact to the Company from these matters, individually and in the aggregate, would not have a material adverse effect on the Company's financial position or results of operations. 106 Note 21 - Segments The Company's business is organized and presented in two reportable segments based on product lines as outlined below. Global Flexible Packaging Solutions: Consists of operations that manufacture flexible and film packaging in the food and beverage, medical and pharmaceutical, personal care, and other industries. Global Rigid Packaging Solutions: Consists of operations that manufacture rigid containers and closures for a broad range of predominantly beverage and food products, including carbonated soft drinks, water, juices, sports drinks, milk-based beverages, spirits and beer, sauces, dressings, spreads and personal care items, and plastic caps for a wide variety of applications. Other consists of the Company's undistributed corporate expenses including executive and functional compensation costs, equity method and other investments, intercompany eliminations, and other business activities. In the fourth quarter of fiscal year 2025, following the Merger, the Company appointed Chief Operating Officers to lead each of its reportable segments. The Chief Operating Officers report directly to the Company's Chief Operating Decision Maker ("CODM") which the Company has determined is its Chief Executive Officer. The Company's measure of profit for its reportable segments is adjusted earnings before interest and taxes ("Adjusted EBIT"). The Company defines Adjusted EBIT as operating income adjusted to eliminate the impact of certain items that the Company does not consider indicative of its ongoing operating performance and to include equity in income/(loss) of affiliated companies, net of tax. The Company's management, including the CODM, uses Adjusted EBIT to evaluate segment performance and allocate resources. The Company's CODM uses consolidated expense information in the evaluation of segment performance and to allocate resources and is not regularly provided disaggregated expense information for each of the reportable segments. The Company does not aggregate operating segments when determining the Company's reportable segments. Effective January 1, 2026, certain of the Company’s flexible operations in Latin America previously included in the Global Flexible Packaging Solutions reportable segment are now reflected in the Global Rigid Packaging Solutions reportable segment as the Company has consolidated management of its flexible and rigid packaging operations in Latin America under one management team and the Company's CODM is now reviewing results under this new structure. Prior period amounts have been recast to conform with current period presentation. The accounting policies of the reportable segments are the same as those in the consolidated financial statements. 107 The following table presents information about reportable segments. Years ended June 30, ($ in millions) 2026 2025 2024 Sales including intersegment sales Global Flexible Packaging Solutions $ 12,829 $ 10,066 $ 9,486 Global Rigid Packaging Solutions 10,677 4,943 4,154 Net sales $ 23,506 $ 15,009 $ 13,640 Global Flexible Packaging Solutions $ (11,040) $ (8,668) $ (8,157) Global Rigid Packaging Solutions (9,501) (4,508) (3,829) Segment expenses (1) $ (20,541) $ (13,176) $ (11,986) Global Flexible Packaging Solutions $ 1,789 $ 1,398 $ 1,329 Global Rigid Packaging Solutions 1,176 435 325 Adjusted segment earnings before interest and taxes ("Adjusted Segment EBIT") 2,965 1,833 1,654 Less: Unallocated corporate costs (1) (152) (110) (94) Less: Amortization of acquired intangible assets from business combinations (2) (558) (246) (167) Less: Impact of hyperinflation (3) (19) (16) (53) Less: Transaction costs (4) (32) (169) — Less: Restructuring, integration and related activities, net (5) (266) (97) (97) Less: Executive transition costs (6) (15) — (8) Add/(Less): Inventory step-up amortization (7) 6 (133) — Less: Accelerated merger-related compensation (8) — (41) — Less: Portfolio review expenses (9) (22) — — Less: Other (10) (10) (21) (22) Interest income 66 49 38 Interest expense (676) (396) (348) Equity in (income)/loss of affiliated companies, net of tax (5) (3) 4 Income before income taxes and equity in (income)/loss of affiliated companies $ 1,282 $ 650 $ 907 (1)Segment expenses and unallocated corporate costs primarily cost of goods sold, selling, general, and administrative expenses, research and development expenses, other income/(expenses), net, and other non-operating income. (2)Amortization of acquired intangible assets from business combinations includes amortization expense related to all acquired intangible assets from past acquisitions. (3)Impact of hyperinflation includes the adverse impact of highly inflationary accounting for subsidiaries in Argentina where the functional currency was the Argentine Peso. (4)Transaction costs includes incremental costs related to the Merger and other strategic activities. Refer to Note 5, "Restructuring, Transaction, and Integration Expenses, Net". (5)Restructuring, integration and related activities, net in fiscal year 2026 primarily includes costs incurred in connection with the Berry Plan. Fiscal year 2025 primarily includes costs incurred in connection with the 2023 Restructuring Plan and the Berry Plan. Fiscal year 2024 primarily includes costs incurred in connection with the 2023 Restructuring Plan. Refer to Note 6, "Restructuring," for further information. (6)Executive transition costs in fiscal year 2026 reflect accelerated compensation, including share-based compensation, granted to the Company's former executives, and other transition related expenses. Fiscal year 2024 includes expenses incurred in connection with the retirement Chief Executive Officer who retired from that role in April 2024, and other transition related expenses. (7)Inventory step-up amortization relates to additional amortization incurred on inventories in connection with the Merger. (8)Accelerated merger-related compensation includes accelerated share-based compensation expense and severance incurred in connection with the Merger. (9)Portfolio review expenses includes impairment and other incremental expenses incurred in connection with the strategic review of the Company's portfolio alternatives. 108 (10) Other in fiscal year 2026 includes various expense and income items, primarily relating to pension settlements and excise taxes of $26 million, professional fees of $12 million, legal related fees of $12 million and other individually immaterial expense items, partially offset by an aggregate pre-tax gain on sale of certain businesses of $56 million (refer to Note 4, "Acquisitions and Divestitures"). Fiscal year 2025 includes various expense and income items primarily relating to pension settlements of $12 million and other minor items primarily including litigation fees and a loss on disposal of a non-core business. These expenses were partially offset by a pre-tax gain on the disposal of Bericap of $15 million (refer to Note 4, "Acquisitions and Divestitures"). Fiscal year 2024 includes fair value losses of $16 million on economic hedges, retroactive foil duties, certain litigation reserve adjustments, and pension settlements, partially offset by changes in contingent purchase consideration. The tables below present additional financial information by reportable segments: Capital expenditures for the acquisition of long-lived assets by reportable segment were: Years ended June 30, ($ in millions) 2026 2025 2024 Global Flexible Packaging Solutions $ 451 $ 360 $ 342 Global Rigid Packaging Solutions 458 213 142 Other 13 7 8 Total capital expenditures for the acquisition of long-lived assets $ 922 $ 580 $ 492 Depreciation and amortization on long-lived assets by reportable segment were: Years ended June 30, ($ in millions) 2026 2025 2024 Global Flexible Packaging Solutions $ 663 $ 430 $ 419 Global Rigid Packaging Solutions 774 274 158 Other 13 12 6 Total depreciation and amortization on long-lived assets $ 1,450 $ 716 $ 583 Total assets by segment are not disclosed as the CODM does not use total assets by segment to evaluate segment performance or allocate resources and capital. The Company did not have sales to a single customer that exceeded 10% of consolidated net sales for the fiscal years ended June 30, 2026, 2025, and 2024, respectively. Sales by major product were: Years ended June 30, ($ in millions) Segment 2026 2025 2024 Films and other flexible products Global Flexible Packaging Solutions $ 11,742 $ 9,035 $ 8,463 Films and other flexible products Global Rigid Packaging Solutions 811 806 847 Specialty flexible folding cartons Global Flexible Packaging Solutions 1,087 1,031 1,022 Containers, preforms, and closures Global Rigid Packaging Solutions 9,866 4,137 3,308 Net sales $ 23,506 $ 15,009 $ 13,640 The following table provides long-lived asset information for the major countries in which the Company operates. Long-lived assets include property, plant, and equipment, net of accumulated depreciation and impairments. June 30, ($ in millions) 2026 2025 United States of America $ 3,585 $ 3,872 Other countries (1) 3,824 4,330 Long-lived assets $ 7,409 $ 8,202 (1)Includes the Company's country of domicile, Jersey. The Company had no long-lived assets in Jersey in any period shown. No individual country represented more than 10% of the respective totals. 109 The following tables disaggregate net sales information by geography in which the Company operates based on manufacturing or selling operations: Year Ended June 30, 2026 ($ in millions) Global Flexible Packaging Solutions Global Rigid Packaging Solutions Total North America $ 6,346 $ 5,379 $ 11,725 Latin America 250 1,630 1,880 Europe (1) 4,536 3,305 7,841 Asia Pacific 1,697 363 2,060 Net sales $ 12,829 $ 10,677 $ 23,506 Year Ended June 30, 2025 ($ in millions) Global Flexible Packaging Solutions Global Rigid Packaging Solutions Total North America $ 4,429 $ 2,765 $ 7,194 Latin America 199 1,591 1,790 Europe (1) 3,792 529 4,321 Asia Pacific 1,646 58 1,704 Net sales $ 10,066 $ 4,943 $ 15,009 Year Ended June 30, 2024 ($ in millions) Global Flexible Packaging Solutions Global Rigid Packaging Solutions Total North America $ 4,095 $ 2,508 $ 6,603 Latin America 267 1,646 1,913 Europe (1) 3,507 — 3,507 Asia Pacific 1,617 — 1,617 Net sales $ 9,486 $ 4,154 $ 13,640 (1)Includes the Company's country of domicile, Jersey. The Company had no sales in Jersey in the periods shown. 110 Note 22 - Deed of Cross Guarantee The parent entity, Amcor plc, and its wholly-owned subsidiaries listed below are subject to a Deed of Cross Guarantee dated June 24, 2019 (the "Deed") under which each company guarantees the debts of the others: Amcor Pty Ltd Amcor Holdings (Australia) Pty Ltd Amcor Services Pty Ltd Amcor Flexibles Group Pty Ltd Amcor Investments Pty Ltd Amcor Flexibles (Australia) Pty Ltd Amcor Finance Australia Pty Ltd Amcor Flexibles (Port Melbourne) Pty Ltd Amcor European Holdings Pty Ltd Amcor Packaging (Asia) Pty Ltd ARP North America Holdco Ltd ARP LATAM Holdco Ltd The entities above were the only parties to the Deed as of June 30, 2026, and comprise the closed group for the purposes of the Deed (and also the extended closed group). ARP North America Holdco Ltd and ARP LATAM Holdco Ltd were newly incorporated entities and were added to the deed on September 25, 2019. By a Revocation Deed, dated September 9, 2021, the Deed was revoked in respect of Amcor Flexibles (Dandenong) Pty Ltd, Packsys Pty Ltd, Packsys Holdings (Aus) Pty Ltd, and Techni-Chem Australia Pty Ltd. No other parties have been added, removed or the subject to a notice of disposal since September 9, 2021. By entering into the Deed, the wholly-owned subsidiaries have been relieved from the requirement to prepare a financial report and directors’ report under ASIC Corporations (Wholly-owned Companies) Instrument 2016/785. The following consolidated financial statements are additional disclosure items specifically required by ASIC and represent the consolidated results of the entities subject to the Deed. 111 Deed of Cross Guarantee Consolidated Statements of Income ($ in millions) For the years ended June 30, 2026 2025 Net sales $ 334 $ 305 Cost of sales (310) (269) Gross profit 24 36 Operating expenses (1) (2,148) (189) Other income, net 1,254 1,241 Operating income/(loss) (870) 1,088 Interest income 46 31 Interest expense (28) (24) Income/(loss) before income taxes (852) 1,095 Income tax expense/(benefit) 25 (19) Net income/(loss) $ (827) $ 1,076 (Net income)/loss attributable to non-controlling interest 226 (7) Net income/(loss) attributable to Deed $ (601) $ 1,069 (1)Includes intercompany expenses incurred with Amcor entities outside the Deed, mainly attributable to intercompany restructuring activities. 112 Deed of Cross Guarantee Consolidated Statements of Comprehensive Income ($ in millions) For the years ended June 30, 2026 2025 Net income/(loss) $ (827) $ 1,076 Other comprehensive income/(loss) (1): Foreign currency translation adjustments, net of tax 29 (2) Other comprehensive income/(loss) 29 (2) Comprehensive income/(loss) attributable to non-controlling interest 226 (7) Total comprehensive income/(loss) $ (572) $ 1,067 (1)All of the items in other comprehensive income/(loss) may be reclassified subsequently to profit or loss. Deed of Cross Guarantee Consolidated Statements of Income and Retained Earnings ($ in millions) For the years ended June 30, 2026 2025 Retained earnings, beginning balance $ 6,988 $ 6,761 Net income/(loss) attributable to Deed (601) 1,069 Retained earnings before distribution 6,387 7,830 Dividends recognized during the financial period (1,252) (842) Retained earnings at the end of the financial period $ 5,135 $ 6,988 113 Deed of Cross Guarantee Consolidated Balance Sheets ($ in millions) As of June 30, 2026 2025 Assets Current assets: Cash and cash equivalents $ 1,840 $ 154 Receivables, net 410 297 Inventories 62 59 Prepaid expenses and other current assets 25 28 Total current assets 2,337 538 Non-current assets: Property, plant, and equipment, net 63 61 Deferred tax assets 44 5 Other intangible assets, net 11 11 Goodwill 92 87 Other non-current assets 17,484 21,263 Total non-current assets 17,694 21,427 Total assets $ 20,031 $ 21,965 Liabilities Current liabilities: Short-term debt $ 201 $ 53 Payables 130 155 Accrued employee costs 22 20 Other current liabilities 37 109 Total current liabilities 390 337 Non-current liabilities: Other non-current liabilities 2 2 Total liabilities 392 339 Shareholders' Equity Issued capital 23 23 Additional paid-in capital 13,429 13,103 Retained earnings 5,135 6,988 Accumulated other comprehensive income 1,052 1,023 Total Deed shareholders' equity 19,639 21,137 Non-controlling interest (1) — 489 Total shareholders' equity 19,639 21,626 Total liabilities and shareholders' equity $ 20,031 $ 21,965 (1)The non-controlling interest in ARP North America Holdco Ltd was fully acquired by Amcor plc in June 2026. 114 Note 23 - Supplemental Cash Flow Information Supplemental cash flow information and non-cash investing activities are as follows: For the years ended June 30, ($ in millions) 2026 2025 2024 Supplemental cash flow information: Interest paid, net of amounts capitalized $ 611 $ 329 $ 336 Income taxes paid 451 261 253 Non-cash financing activities: Issuance of equity to acquire Berry Global Group, Inc. (1) $ — $ 8,138 $ — Non-cash investing activities: Purchase of property, plant, and equipment accrued, but not paid $ 106 $ 93 $ 81 Contingent and deferred liabilities incurred related to acquired businesses, but not paid 6 8 27 (1)Non-cash financing activities in fiscal year 2025 include the issuance of ordinary shares as equity consideration related to the Merger. Refer to Note 4, "Acquisitions and Divestitures" for further information. 115 Note 24 - Subsequent Events On August 12, 2026, the Company's Board of Directors declared a quarterly cash dividend of $0.65 per share to be paid on September 24, 2026, to shareholders of record as of September 4, 2026. Amcor has received a waiver from the Australian Securities Exchange ("ASX") settlement operating rules, which will allow Amcor to defer processing conversions between its ordinary share and CHESS Depositary Instrument ("CDI") registers from September 3, 2026, to September 4, 2026, inclusive. 116