Amcor and Berry global announce important milestone towards transaction closing

Joint Proxy Statement Filed with U.S. Securities and Exchange Commission

Amcor and Berry Global Shareholder Meetings to take place on 25 February 2025

ZURICH and EVANSVILLE, Ind. , Jan. 24, 2025 /PRNewswire/ -- Amcor plc ("Amcor") (NYSE: AMCR, ASX: AMC) and Berry Global Group, Inc. ("Berry") (NYSE: BERY) today announce that an important milestone towards the completion of their previously announced all-stock transaction has been reached, with filing of the definitive joint proxy statement ("the Joint Proxy Statement') with the U.S. SEC. The Joint Proxy Statement includes notices of Amcor and Berry shareholder meetings that will both take place on Tuesday 25 February, 2025.

Amcor and Berry Global announced that an important milestone towards the completion of their previously announced all-stock transaction has been reached, with filing of the definitive joint proxy statement with the U.S. SEC.

This transaction brings together two highly complementary businesses to create a global leader in consumer and healthcare packaging solutions, uniquely positioned to accelerate growth across a broader and scaled flexible film, containers, closures and dispensing packaging portfolio. The combined company will have significant opportunities to further refine the portfolio and leverage differentiated material science and innovation capabilities to revolutionize product development, and solve customers' and consumers' sustainability needs.

In addition, substantial value is expected to be created for both sets of shareholders through the delivery of $650 million in identified cost, growth and financial synergies¹ and a stronger financial profile going forward, underpinned by accelerated volume and revenue growth, combined annual cash flow² of over $3 billion and a commitment to an investment grade balance sheet. The combination is expected to deliver over 35% adjusted cash earnings per share accretion³ and enhance long-term shareholder valuation creation from 10-15% to 13-18% per annum through sustained higher earnings growth and continued annual dividend growth.

The transaction is unanimously recommended by the Boards of Directors of both companies.

The Joint Proxy Statement includes important information relevant to the transaction, including information about the shareholder meetings, how to vote and governance matters related to the combined company following completion of the transaction.

Summarized key dates are provided below: