• Robust Group operating result with strong operating cash flow
• Strong Cans volume growth of 11.2%
• Saverglass volume growth of 2.6%, Gawler volume slightly down
• Completion of 2025 calendar year buy back of ~$227.4m, new on-market buyback of up to 10% of shares (~$270m)

Orora Ltd reported a strong 1H26 result, with underlying NPAT of $77.8m, up 32.2% year-on-year. EBITDA grew 14.4% to $218.2m, driven by growth across all segments. Cans revenue grew 18.6% (15% excluding aluminium price pass-through) on 11.2% volume growth, enabled by capacity expansion investments. Saverglass saw 2.6% volume growth, while Gawler volumes were slightly down. Orora completed a $227.4m buyback in 2025 and announced a new on-market buyback of up to 10% of shares (~$270m). The company continues to make progress on its sustainability goals, including increasing recycled content in Glass and Cans, and reducing emissions. Safety performance was solid, with no serious injuries or fatalities, though the lost time injury frequency rate increased. Overall, Orora delivered a robust operating result underpinned by disciplined execution.

Orora expects the Cans business to achieve incremental EBIT of over $50m per annum from its growth investment program, without further capacity expansion, supporting ~5% annual volume growth until 2030.