[Executive Summary and Financial Highlights](index=1&type=section&id=Executive%20Summary%20and%20Financial%20Highlights) Amcor's fiscal 2025 results highlight the transformative Berry Global acquisition, positioning the company for strong fiscal 2026 earnings and free cash flow growth [Overview and CEO Remarks](index=1&type=section&id=Overview%20and%20CEO%20Remarks) Amcor's CEO emphasized the Berry Global acquisition as a milestone, driving strong fiscal 2026 earnings and free cash flow growth, with integration on track and a $20 billion core portfolio identified - The acquisition of Berry Global is a significant milestone, expected to drive strong adjusted EPS growth of **12-17%** and Free Cash Flow of **$1.8-$1.9 billion** in fiscal 2026[1](index=1&type=chunk) - Integration is progressing well, with synergy targets on track; a strategic portfolio review has identified a **$20 billion core portfolio** focused on consumer packaging and dispensing solutions for nutrition and health[2](index=2&type=chunk) [Fiscal 2025 Performance Highlights](index=1&type=section&id=Fiscal%202025%20Performance%20Highlights) For fiscal 2025, Amcor achieved 11% constant currency net sales growth to $15,009 million, 12% adjusted EBIT growth to $1,723 million, and 3% adjusted EPS growth to 71.2 cents per share Fiscal Year 2025 Highlights | Metric | Value | Constant Currency Growth | | :--- | :--- | :--- | | Net Sales | $15,009 million | 11% | | Adjusted EBITDA | $2,186 million | 13% | | Adjusted EBIT | $1,723 million | 12% | | Adjusted EPS | 71.2 cps | 3% | | Adjusted Free Cash Flow | $926 million | N/A | | Annual Dividend | 51 US cents per share | N/A | [Q4 Fiscal 2025 Performance Highlights](index=1&type=section&id=Q4%20Fiscal%202025%20Performance%20Highlights) Q4 fiscal 2025 results show significant impact from the Berry Global acquisition, with 43% constant currency net sales growth to $5,082 million, a GAAP Net Loss of $39 million, and strong adjusted EBITDA and EBIT growth Q4 Fiscal 2025 Highlights | Metric | Value | Constant Currency Growth | | :--- | :--- | :--- | | Net Sales | $5,082 million | 43% | | GAAP Net Income | ($39) million | N/A | | Adjusted EBITDA | $789 million | 43% | | Adjusted EBIT | $611 million | 34% | [Key Financials Summary](index=1&type=section&id=Key%20Financials%20Summary) This table provides a comparative overview of Amcor's GAAP and adjusted non-GAAP financial metrics for Q4 and full fiscal years 2024 and 2025, reflecting significant top-line growth post-acquisition GAAP and Adjusted Non-GAAP Results (in millions, except EPS) | Metric | Q4 2024 | Q4 2025 | FY 2024 | FY 2025 | | :--- | :--- | :--- | :--- | :--- | | **GAAP Results** | | | | | | Net Sales | $3,535 | $5,082 | $13,640 | $15,009 | | Net Income | $257 | ($39) | $730 | $511 | | EPS (diluted US cents) | 17.8 | (1.9) | 50.5 | 32.0 | | **Adjusted Non-GAAP Results** | | | | | | Net Sales | $3,535 | $5,082 | $13,640 | $15,009 | | EBIT | $454 | $611 | $1,560 | $1,723 | | Net Income | $305 | $408 | $1,015 | $1,136 | | EPS (diluted US cents) | 21.1 | 20.0 | 70.2 | 71.2 | | Free Cash Flow | $837 | $943 | $952 | $926 | [Strategic Developments and Shareholder Returns](index=3&type=section&id=Strategic%20Developments%20and%20Shareholder%20Returns) Amcor completed the Berry Global acquisition, reorganizing into two segments, identifying a core portfolio, and increasing its quarterly cash dividend [Berry Global Acquisition and Integration](index=3&type=section&id=Berry%20Global%20Acquisition%20and%20Integration) Amcor completed the all-stock acquisition of Berry Global on April 30, 2025, targeting $650 million in pre-tax synergies by fiscal 2028, and reorganized into Global Flexible and Rigid Packaging Solutions - The all-stock acquisition of Berry Global was completed on **April 30, 2025**[7](index=7&type=chunk) - Amcor is targeting total pre-tax synergy benefits of **$650 million by the end of fiscal 2028**, with **$260 million expected in fiscal 2026**[10](index=10&type=chunk) - The company has been reorganized into two segments: **Global Flexible Packaging Solutions** and **Global Rigid Packaging Solutions**, combining legacy businesses from both Amcor and Berry Global[9](index=9&type=chunk) [Portfolio Review and Optimization](index=3&type=section&id=Portfolio%20Review%20and%20Optimization) A portfolio review identified a **$20 billion core portfolio** focused on consumer packaging for nutrition and health, while businesses with **$2.5 billion in sales** are under review for strategic alternatives - A review identified a **$20 billion core portfolio** focused on consumer packaging and dispensing solutions for nutrition and health[11](index=11&type=chunk) - Businesses with combined annual sales of approximately **$2.5 billion**, including the **$1.5 billion North America Beverage business**, are considered less aligned with the core portfolio and are under review for strategic alternatives such as restructuring, partnership, or sale[12](index=12&type=chunk) [Shareholder Returns](index=3&type=section&id=Shareholder%20Returns) Amcor's Board declared a quarterly cash dividend of **12.75 cents per share**, increasing the total annual dividend for fiscal 2025 to **51.0 cents per share** Quarterly Dividend Information | Metric | Value | | :--- | :--- | | Quarterly Dividend per Share | 12.75 US cents | | Annual Dividend for FY2025 | 51.0 US cents | | Ex-dividend Date (ASX) | September 4, 2025 | | Ex-dividend Date (NYSE) | September 5, 2025 | | Record Date | September 5, 2025 | | Payment Date | September 25, 2025 | [Financial Performance Analysis](index=5&type=section&id=Financial%20Performance%20Analysis) Amcor's fiscal 2025 net sales grew 10% to $15,009 million and adjusted EBIT increased 12% in constant currency, primarily driven by the Berry Global acquisition [Consolidated Financial Results](index=5&type=section&id=Consolidated%20Financial%20Results) For fiscal 2025, Amcor's net sales grew 10% to $15,009 million and adjusted EBIT increased 12% in constant currency, largely driven by the Berry Global acquisition, despite some volume and price/mix offsets - For FY2025, constant currency net sales grew **11%**, driven by a **10% contribution from acquired sales** and **1% from higher volumes**, partially offset by a **1% unfavorable price/mix**[24](index=24&type=chunk) - For Q4 2025, constant currency net sales grew **43%**, almost entirely due to a **43% contribution from acquired sales**, with overall volumes declining by **1.7%**[19](index=19&type=chunk)[20](index=20&type=chunk) - FY2025 adjusted EBIT grew **12% in constant currency**, with a **13% contribution from acquisitions**, partly offset by unfavorable price/mix, though strong cost performance and higher volumes provided some benefit[25](index=25&type=chunk) [Segment Performance: Global Flexible Packaging Solutions](index=7&type=section&id=Segment%20Performance%3A%20Global%20Flexible%20Packaging%20Solutions) The Global Flexible Packaging Solutions segment saw fiscal 2025 net sales increase by 6% in constant currency to $10,872 million and adjusted EBIT up 5% to $1,458 million, driven by acquisitions and volume growth Global Flexible Packaging Solutions - Q4 FY2025 | Metric | Q4 2024 ($M) | Q4 2025 ($M) | Constant Currency ∆% | | :--- | :--- | :--- | :--- | | Net Sales | 2,686 | 3,205 | 18% | | Adjusted EBIT | 403 | 450 | 11% | | Adjusted EBIT Margin | 15.0% | 14.1% | N/A | Global Flexible Packaging Solutions - Full Year FY2025 | Metric | FY 2024 ($M) | FY 2025 ($M) | Constant Currency ∆% | | :--- | :--- | :--- | :--- | | Net Sales | 10,332 | 10,872 | 6% | | Adjusted EBIT | 1,395 | 1,458 | 5% | | Adjusted EBIT Margin | 13.5% | 13.4% | N/A | - In Q4, combined volumes for the segment were down approximately **1.5%**, with low single-digit declines in North America and lower volumes in Europe, while emerging markets saw low single-digit growth[30](index=30&type=chunk) [Segment Performance: Global Rigid Packaging Solutions](index=8&type=section&id=Segment%20Performance%3A%20Global%20Rigid%20Packaging%20Solutions) The Global Rigid Packaging Solutions segment experienced dramatic growth in fiscal 2025, with constant currency net sales up 26% to $4,137 million and adjusted EBIT surging 47% to $375 million, primarily due to the Berry acquisition Global Rigid Packaging Solutions - Q4 FY2025 | Metric | Q4 2024 ($M) | Q4 2025 ($M) | Constant Currency ∆% | | :--- | :--- | :--- | :--- | | Net Sales | 849 | 1,877 | 121% | | Adjusted EBIT | 75 | 204 | 173% | | Adjusted EBIT Margin | 8.8% | 10.9% | N/A | Global Rigid Packaging Solutions - Full Year FY2025 | Metric | FY 2024 ($M) | FY 2025 ($M) | Constant Currency ∆% | | :--- | :--- | :--- | :--- | | Net Sales | 3,308 | 4,137 | 26% | | Adjusted EBIT | 259 | 375 | 47% | | Adjusted EBIT Margin | 7.8% | 9.1% | N/A | - In Q4, combined volumes for the segment were down approximately **2%**, or **1% excluding North America beverage**; the decline was partly due to operating challenges and higher costs in the North America Beverage business[36](index=36&type=chunk)[37](index=37&type=chunk) [Other Financial Items](index=8&type=section&id=Other%20Financial%20Items) Fiscal 2025 adjusted net interest expense rose to $332 million due to acquisition-related debt, adjusted free cash flow was $926 million, and net debt reached $13,271 million, including $7.4 billion from the Berry Global acquisition - Adjusted net interest expense for FY2025 was **$332 million**, up from **$310 million** last year, due to increased debt from the acquisition[41](index=41&type=chunk) - Adjusted free cash flow for FY2025 was **$926 million**, compared to **$952 million** in the prior year[42](index=42&type=chunk) - Net debt increased to **$13,271 million** as of June 30, 2025, which includes about **$7.4 billion of debt from Berry Global**[42](index=42&type=chunk) [Fiscal 2026 Outlook](index=10&type=section&id=Fiscal%202026%20Outlook) Amcor forecasts strong fiscal 2026 adjusted EPS of 80 to 83 cents per share, representing 12% to 17% constant currency growth, and robust free cash flow of $1.8 to $1.9 billion [Fiscal 2026 Guidance](index=10&type=section&id=Fiscal%202026%20Guidance) Amcor's fiscal 2026 guidance projects adjusted EPS of 80 to 83 cents per share (12-17% constant currency growth) and free cash flow of $1.8 to $1.9 billion, including $260 million in Berry Global synergy benefits Fiscal 2026 Guidance | Metric | Guidance Range | Notes | | :--- | :--- | :--- | | Adjusted EPS | 80 - 83 cents per share | 12% to 17% constant currency growth | | Free Cash Flow | $1.8 - $1.9 billion | After ~$220M integration/transaction costs | | Capital Expenditure | $850 - $900 million | | | Net Interest Expense | $570 - $600 million | | | Effective Tax Rate | 19% - 21% | | - The guidance includes pre-tax synergy benefits of approximately **$260 million** related to the Berry Global acquisition[48](index=48&type=chunk) - The guidance reflects a full 12 months of ownership of Berry Global and does not account for the impact of potential portfolio optimization actions[43](index=43&type=chunk) [Appendix: Financial Statements & Reconciliations](index=12&type=section&id=Appendix%3A%20Financial%20Statements%20%26%20Reconciliations) This appendix provides unaudited U.S. GAAP financial statements and detailed reconciliations of non-GAAP measures, offering a comprehensive view of Amcor's financial performance and position [U.S. GAAP Financial Statements](index=12&type=section&id=U.S.%20GAAP%20Financial%20Statements) This section presents unaudited U.S. GAAP condensed consolidated financial statements for periods ending June 30, 2025, including Statements of Income, Cash Flows, and Balance Sheets - The Condensed Consolidated Statements of Income show a GAAP net loss of **$39 million** for Q4 2025 and net income of **$511 million** for FY 2025, impacted by significant restructuring, transaction, and integration expenses[56](index=56&type=chunk) - The Condensed Consolidated Balance Sheet as of June 30, 2025, shows total assets of **$37,066 million** and total liabilities of **$25,326 million**, reflecting the significant increase in assets and debt following the Berry Global acquisition[58](index=58&type=chunk) - The Condensed Consolidated Statements of Cash Flows for FY 2025 show net cash provided by operating activities of **$1,390 million** and a net increase in cash of **$239 million** for the year[57](index=57&type=chunk) [Reconciliation of Non-GAAP Measures](index=16&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) This section reconciles non-GAAP financial measures to U.S. GAAP, detailing adjustments for items like restructuring costs, acquisition-related expenses, and amortization of acquired intangibles - For Q4 2025, GAAP Net Income of **($39) million** is reconciled to Adjusted Net Income of **$408 million**; major adjustments include **$166 million** for Berry Transaction & Integration costs, **$133 million** for inventory step-up amortization, and **$130 million** for amortization of acquired intangibles[61](index=61&type=chunk) - For FY 2025, GAAP Net Income of **$511 million** is reconciled to Adjusted Net Income of **$1,136 million**; key adjustments include **$246 million** for amortization of acquired intangibles, **$202 million** for Berry Transaction & Integration costs, and **$133 million** for inventory step-up amortization[63](index=63&type=chunk) - A reconciliation of net debt is provided, showing an increase from **$6,111 million** at June 30, 2024, to **$13,271 million** at June 30, 2025[70](index=70&type=chunk) [Components of Net Sales Growth](index=14&type=section&id=Components%20of%20Net%20Sales%20Growth) This table breaks down fiscal 2025 net sales growth into foreign exchange, raw material pass-through, comparability items (acquisitions), and organic growth (volume and price/mix) FY2025 Total Company Net Sales Growth Components | Component | Q4 FY2025 | Full Year FY2025 | | :--- | :--- | :--- | | Reported Growth % | 44% | 10% | | FX % | 1% | (1)% | | Constant Currency Growth % | 43% | 11% | | Raw Material Pass Through % | 1% | 1% | | Items affecting comparability % | 43% | 10% | | Organic Growth % | (1)% | 0% | | - Volume % | (2)% | 1% | | - Price/Mix % | 1% | (1)% |

Core Insights - Amcor's acquisition of Berry Global is expected to significantly enhance its value creation capabilities for customers and shareholders, with projected adjusted EPS growth of 12-17% and free cash flow of $1.8 to $1.9 billion for fiscal 2026 [1][8][44] Financial Performance - For the three months ended June 30, 2025, Amcor reported net sales of $5,082 million, a 43% increase compared to the previous year, while net income was a loss of $39 million due to acquisition-related costs [3][5] - Adjusted EBITDA for the same period was $789 million, up 43%, and adjusted EBIT was $611 million, up 34% [5][20] - For the twelve months ended June 30, 2025, net sales reached $15,009 million, an 11% increase, with adjusted net income of $1,136 million, reflecting a 13% growth [5][24] Segment Performance - The Global Flexible Packaging Solutions segment saw net sales of $3,205 million, a 19% increase, while the Global Rigid Packaging Solutions segment reported net sales of $1,877 million, a 121% increase [25][33] - Adjusted EBIT for the Flexible Packaging segment was $450 million, up 12%, and for the Rigid Packaging segment, it was $204 million, up 173% [29][35] Synergy and Integration - Amcor anticipates achieving $650 million in total pre-tax synergy benefits from the Berry Global acquisition by the end of fiscal 2028, with $260 million expected in fiscal 2026 [10][44] - Integration efforts have been progressing well, with positive customer feedback leading to business wins linked to the acquisition [2][10] Portfolio Optimization - Amcor has identified a $20 billion core portfolio focused on consumer packaging and dispensing solutions for nutrition and health, aiming to enhance growth in attractive categories [11][12] - The company is exploring alternatives for approximately $2.5 billion in annual sales from businesses less aligned with the core portfolio [12][13] Shareholder Returns - The Board of Directors declared a quarterly cash dividend of 12.75 cents per share, increasing the annual dividend for fiscal 2025 to 51.0 cents per share [14][15]

Group 1 - Amcor is set to announce its earnings on August 14, 2025, with a current market capitalization of $22 billion [2] - The company generated $13 billion in revenue over the last twelve months, with operating profits of $1.4 billion and net income of $807 million [2] - Historical data shows that Amcor has recorded 20 earnings data points over the past five years, with 9 positive and 11 negative one-day returns, resulting in a positive return rate of approximately 45% [5] Group 2 - The percentage of positive one-day returns decreases to 33% when analyzing data from the last three years [5] - The median of the 9 positive returns is 1.8%, while the median of the 11 negative returns is -2.2% [5] - A strategy to assess the correlation between short-term and medium-term returns can be beneficial for traders, particularly if the correlation is strong [4][6]

Core Insights - Amcor Plc (AMCR) is set to report its fourth-quarter fiscal 2025 results on August 4, with expected revenues of $5.17 billion, reflecting a 46.3% increase year-over-year [1] - The consensus estimate for earnings is 21 cents per share, indicating no change from the previous year, although this estimate has decreased by 4.6% over the past 60 days [1][2] Revenue and Earnings Estimates - The Zacks Consensus Estimate for AMCR's fiscal fourth-quarter revenues is $5.17 billion, indicating a significant growth of 46.3% from the prior year [1] - The earnings estimate for the quarter is 21 cents per share, unchanged from the year-ago quarter, but has seen a downward revision of 4.6% in the last 60 days [1][2] Volume and Segment Performance - Amcor's total volume growth has been negative for seven consecutive quarters until Q4 of fiscal 2024, where it saw a 1% growth, followed by 2% growth in the first and second quarters of fiscal 2025, and flat volumes in Q3 [6][7] - For Q4, a volume growth of 0.3% is projected, primarily driven by the Flexibles segment, while Rigid Packaging sales are expected to decline by 10.6% due to lower volumes and weaker price/mix [4][7] Segment Projections - The Flexibles segment is projected to achieve a sales figure of $2.71 billion, reflecting a 1.1% year-over-year growth, with a volume growth of 1% and a favorable price/mix of 1% [8] - The Rigid Packaging segment is expected to see a sales projection of $0.76 billion, indicating a 10.6% year-over-year decline, with a 2% dip in volumes and a price/mix decrease of 1% [9] Share Price Performance - Over the past year, Amcor's shares have decreased by 3.5%, compared to a 5.8% decline in the industry [10] Peer Comparisons - Sealed Air Corporation reported adjusted earnings per share of 89 cents, surpassing estimates, with total sales of $1.335 billion, slightly down year-over-year [12][13] - Packaging Corporation of America reported adjusted earnings per share of $2.48, beating estimates, with sales growing 4.6% year-over-year to $2.17 billion [14][15] - Avery Dennison Corporation delivered adjusted earnings of $2.42 per share, slightly beating estimates, but total revenues dipped 0.7% year-over-year to $2.22 billion [15]

Core Insights - Amazon's recent earnings report highlights the unpredictability of market reactions, even when a company exceeds earnings and revenue expectations, as seen with its stock dip due to forward guidance concerns [1] Group 1: Applied Materials - Applied Materials is a crucial player in domestic chip manufacturing, providing essential technologies for chip production, including DRAM and NAND memory, with a current stock price of $185.53 and a 12-month price forecast of $204.09, indicating a 10% upside potential [4][6] - The chip foundry market is expected to grow rapidly, which will sustain high demand for Applied Materials' products, and the company has formed partnerships with Apple and Texas Instruments to supply American-made manufacturing equipment, positioning it favorably in the regulatory landscape [5] - Analysts expect Applied Materials' earnings to grow by 7.4% this year, with 17 out of 25 analysts rating the stock as a Buy, suggesting more than 10% near-term upside potential based on price targets [6] Group 2: Amcor - Amcor is anticipated to see a boost in its earnings report due to its all-stock combination with Berry Global, valued at over $8 billion, completed by the end of April 2025 [8][9] - The acquisition is expected to provide 12% EPS accretion in fiscal 2026 and at least 35% by the end of fiscal 2028, which could excite investors if early signs of success are evident [9] - Eight out of ten analysts view Amcor shares as a Buy, with a 12-month price forecast of $11.51, indicating a 19.75% upside potential [10] Group 3: Sea Ltd. - Sea Ltd. has made significant strides in the digital financial services sector, which is expected to bolster its dominance in Southeast Asia, with a current stock price of $146.38 and a 12-month price forecast of $159.82, suggesting a 9.18% upside [11] - Despite a 2.5% rise in short interest, analysts remain optimistic, with ten out of thirteen rating the stock as a Buy, and a consensus price target indicating room for growth [12] - Analysts predict Sea's earnings could quadruple in the coming year to $2.96 per share, which is a significant point of interest for investors [13] Group 4: Qifu Technology - Qifu Technology, through its credit-tech platform 360 Jietiao, is gaining attention in the Chinese market, with a current stock price of $32.46 and a 12-month price forecast of $51.73, indicating a 59.38% upside potential [14][15] - The company has seen recent earnings successes and formed significant partnerships with municipal banks in China, which are expected to drive interest and growth [16] - Analysts expect Qifu's earnings to grow by nearly 12% in the coming year, with all three analysts rating the stock as a Buy [16]

Group 1 - The upcoming earnings report from Amcor (AMCR) is expected to show quarterly earnings of $0.21 per share, indicating no change from the previous year, with revenues forecasted at $5.17 billion, representing a 46.3% year-over-year increase [1] - Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.4%, reflecting analysts' reassessment of their initial projections [1] - Analysts predict 'Net Sales- Flexible' at $2.71 billion, a change of +0.9% from the prior-year quarter, while 'Net Sales- Rigid Packaging' is expected to be $765.86 million, indicating a -9.8% year-over-year change [4] Group 2 - The consensus estimate for 'Adjusted EBIT- Flexibles' is $410.01 million, compared to $403.00 million reported in the same quarter last year [4] - 'Adjusted EBIT- Rigid Packaging' is forecasted to reach $68.86 million, down from $75.00 million in the same quarter of the previous year [5] - Over the past month, Amcor shares have returned +0.1%, while the Zacks S&P 500 composite has changed by +2.7%, with AMCR currently holding a Zacks Rank 4 (Sell) [5]

Core Insights - Amcor has shortlisted four innovative start-ups in its Amcor Lift-Off challenge aimed at addressing the Water Vapour Transmission Rate (WVTR) barriers for compostable substrates, including paper [1][2][3] Group 1: Amcor Lift-Off Challenge - The challenge focuses on finding effective solutions for moisture protection in compostable packaging materials [3] - The selected start-ups will undergo a rigorous evaluation process that may include technical trials and potential investment [3][4] - Amcor Lift-Off is designed to support early-stage start-ups working on breakthrough packaging technologies, offering selected companies the opportunity to collaborate with Amcor's technical teams and receive funding of up to $500,000 [4][5] Group 2: Innovation and Sustainability - Amcor emphasizes the importance of open innovation in accelerating progress within the packaging industry, aligning with its sustainability goals [4] - The initiative reflects Amcor's commitment to being a leading partner in packaging innovation and connecting with talented minds in the start-up ecosystem [5] Group 3: Company Overview - Amcor is a global leader in packaging solutions, focusing on responsible and sustainable packaging for consumer and healthcare products [6] - The company operates with approximately 70,000 employees across around 140 countries, leveraging its global capabilities to meet local customer needs [6]

Core Points - Amcor plc will announce its fiscal 2025 fourth quarter and full year results on August 14, 2025, before the US market opens [1] - A conference call and webcast to discuss the results will take place at 8:00 AM US Eastern Daylight Time on the same day [2] - Amcor is a global leader in responsible packaging solutions, generating $13.6 billion in annual sales in fiscal year 2024 [3] Company Overview - Amcor develops and produces packaging solutions for various sectors including food, beverage, pharmaceutical, and personal care [3] - The company operates 212 locations across 40 countries, employing 41,000 people [3] - Amcor focuses on creating packaging that is recyclable, reusable, and made with recycled content [3]

Core Points - Amcor plc announced the commencement of exchange offers for three series of Guaranteed Senior Notes totaling up to $2.2 billion [1] - The exchange offers include up to $725 million of 4.800% Guaranteed Senior Notes due 2028, $725 million of 5.100% Guaranteed Senior Notes due 2030, and $750 million of 5.500% Guaranteed Senior Notes due 2035 [1] - The purpose of the exchange offers is to satisfy obligations under a registration rights agreement related to the issuance of the Old Notes [2] Exchange Notes Details - The terms of the Exchange Notes will be identical to the Old Notes, except for transfer restrictions and registration rights [2] - The Exchange Notes will have a different CUSIP number than the Old Notes [2] - The exchange offers will expire on August 22, 2025, unless extended [3] Exchange Agent Information - U.S. Bank Trust Company, National Association has been appointed as the exchange agent for the offers [4] - Contact information for the exchange agent is provided for assistance and additional copies of the prospectus [4] Company Overview - Amcor is a global leader in packaging solutions for consumer and healthcare products, with a commitment to sustainability and innovation [5] - The company employs approximately 70,000 colleagues across around 140 countries, providing local access to global brands [6]

Group 1 - iREIT+HOYA Capital focuses on income-producing asset classes that provide sustainable portfolio income, diversification, and inflation hedging [1] - The investment strategy emphasizes stocks that generate robust cash flow consistently rather than those that are frequently in the news [2] - The approach is defensive in nature, targeting medium- to long-term investment horizons [2] Group 2 - The article does not provide specific financial advice or recommendations, emphasizing the importance of due diligence by readers [4][5] - There is a disclosure regarding a beneficial long position in AMCR shares, indicating a vested interest in the stock [3]