ORORA LIMITED (ORA)

The suspension of trading in the securities of Orora Limited will be lifted immediately following the release by ORA of an announcement regarding the completion of the Placement and the Institutional Entitlement Offer.

Completion of the Placement raised gross proceeds of approximately $450 million. Completion of the Institutional Entitlement Offer raised gross proceeds of approximately $668 million. Strong support shown by both existing and new institutional shareholders. Retail offer component of the Entitlement Offer opens on Tuesday, 12 September 2023.

The company releases a cleansing notice.

The company releases an Investor Presentation.

Orora Ltd has entered into arrangements to acquire 100% of Saverglass SAS through the acquisition of all of the shares of Olympe SAS for an enterprise value of €1,290 million (A$2,156 million). Saverglass is a global leader in the design, manufacturing, customisation, and decoration of high-end bottles for the premium and ultra-premium spirit and wine markets. Saverglass represents a unique acquisition of a high-quality business, enhancing Orora's strategic advantage, scale, diversification and its future growth opportunities. The Acquisition is expected to be mid-single digit earnings per share accretive (including full run-rate synergies) in the first full financial year of ownership. The Acquisition will be funded via a fully underwritten equity raising of approximately A$1,345 million comprising a A$450 million institutional placement and a A$895 million 1-for-2.55 accelerated non-renounceable pro rata entitlement offer, and A$875 million of Acquisition debt financing. Acquisition funding to result in leverage of 2.50x pro forma FY23 Underlying EBITDA within Orora's stated range, and with strong cash flow to support future deleveraging. Saverglass will become the centrepiece of Orora's global glass business unit, and will operate as a third platform for growth, under the leadership of Orora and Saverglass' highly experienced management teams who will remain with the business.

Although having made substantial progress over the past few days, the Company is not currently in a position to announce the potential material transaction involving the acquisition of Saverglass SAS. Orora has made substantial progress in negotiations with the owners of Olympe SAS, the holding company of Saverglass SAS, with agreement having been reached on key commercial terms. The parties are now in the process of finalising the transaction documents to implement the Potential Transaction and Orora is also in the process of finalising the funding arrangements for the Potential Transaction. Orora's shares will continue to remain suspended from quotation under Listing Rule 17.3. Orora expects to be able to make an announcement in respect of the Potential Transaction before the commencement of trading on Tuesday, 5 September 2023.

The securities of Orora Limited were suspended at ORA's request on Wednesday, 30 August 2023 pending release of information about discussions with the owners of Olympe SAS, the holding company of Saverglass SAS, regarding the potential acquisition of Saverglass SAS ("˜Potential Transaction'). ORA's securities will now continue to be suspended from quotation under Listing Rule 17.3.1, due to ORA's failure to provide an announcement to the market sufficient to meet its disclosure obligations under Listing Rule 3.1 and to allow its voluntary suspension to be lifted. ORA's securities are likely to remain suspended until ASX is satisfied that the market is properly informed about the Potential Transaction.

The securities of Orora Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of ORA, pending the release of an announcement regarding a potential transaction.

we understand that on or about this date the company consolidated its shares 4 for 5

we understand that on or about this date the company made a capital return of 12.4 cents per share

listed entity carried for record purposes only