ORORA LIMITED — Director's Dealing 2020

Nov 3, 2020

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	ORORA LIMITED
ABN	55 004 275 165

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	BRIAN PHILLIP LOWE
Date of last notice	18 September 2020

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	N/A
Date of change	1 September and 28 October 2020
No. of securities held prior to change	1. 698,634 Shares 2. 694,062 Rights 3. 1,251,500 Options
Class	1. Fully paid ordinary shares 2. Rights 3. Options
Number acquired	2. 339,147 Rights
Number disposed	2. 127,000 Rights 3. 541,500 Options
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	127,000 Rights and 541,500 Options lapsed 339,147 Rights allocated with a nil exercise price
No. Of securities held after change	1. 698,634 Shares 2. 906,209 Rights 3. 710,000 Options

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change

Nature of change Mr Lowe as Orora’s Managing Director and Chief Executive Officer, was Example: on-market trade, off-market allocated 339,147 Rights under the Long Term Incentive Plan following trade, exercise of options, issue of securities under dividend approval by shareholders at Orora Limited’s 2020 Annual General reinvestment plan, participation in Meeting. buy-back

127,000 Rights and 541,500 Options allocated to Mr Lowe, during his previous role at Orora, prior to becoming a Director, lapsed per Orora’s Long Term Incentive Plan terms as reported to the ASX on 11 September 2020. A separate Appendix 3Y was not lodged at this time due to inadvertent administrative oversight.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 – +Closed period

art 3 – +Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

If prior written clearance was N/A provided, on what date was this provided?

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3