• Net sales up 77% driven by Berry acquisition
• Adjusted EBITDA up 87%, adjusted EBIT up 79%
• Adjusted EPS guidance of $3.98-$4.03, up ~12% at midpoint

Amcor reported solid third quarter results for the period ended March 31, 2026. Net sales were $5,914 million, up 77% driven by the Berry acquisition. GAAP net income was $278 million and GAAP diluted EPS was $0.60. Adjusted EBITDA grew 87% to $892 million, and adjusted EBIT increased 79% to $687 million. Adjusted EBITDA margin expanded to 15.1% and adjusted EBIT margin increased modestly to 11.6%. Adjusted EPS was $0.96, up 6% year-to-date. For the first nine months, net sales were $17,108 million, up 72%, with adjusted EBITDA of $2,628 million, up 88%, and adjusted EBIT of $1,977 million, up 78%. The company reached six divestiture agreements under its portfolio optimization initiative. For fiscal 2026, Amcor expects adjusted EPS of $3.98 to $4.03, representing growth of approximately 12% at the midpoint, as it mitigates the impact of the Middle East conflict. Free cash flow is now expected to be $1.5-1.6 billion, revised from the previous $1.8-1.9 billion guidance to reflect higher inventory levels.

For fiscal 2026, Amcor expects adjusted EPS of approximately $3.98 to $4.03, representing growth of approximately 12% at the midpoint. This includes pre-tax synergy benefits related to the Berry acquisition of $270 million. Free Cash Flow is expected to be $1.5 billion to $1.6 billion.

Amcor's guidance for fiscal 2026 reflects a full 12 months ownership of the Berry business and does not take into account the impact of potential portfolio optimization actions that may be completed through the year. Amcor's guidance contemplates a range of factors, including ongoing geopolitical developments related to the conflict in the Middle East, which creates a higher degree of uncertainty and additional complexity when estimating future financial results.