ORORA LIMITED — Major Shareholding Notification 2021

Aug 26, 2021

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27 August 2021

The Manager Company Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

Dear Sir/Madam

Re: Notice of ceasing to be a substantial holder - Orora Limited (ORA)

We enclose notice of ceasing to be a substantial holder in Orora Limited. This notice is given by Greencape Capital Pty Ltd.

Yours faithfully

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Sophie Gowland Company Secretary

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Form 605

Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme Orora Limited ACN/ARSN 004 275 165

1. Details of substantial holder (1)

Name Greencape Capital Pty Ltd ACN/ARSN (if applicable) 120 328 529

The holder ceased to be a substantial holder on 26/08/2021 The previous notice was given to the company on 27/08/2021 The previous notice was dated 27/08/2021

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to change (5)	Class (6) and number of securities affected	Person's votes affected
Refer Annexure 1	Greencape Capital Pty Ltd	Refer Annexure 1	Refer Annexure 1	Refer Annexure 1	Refer Annexure 1

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association N/A N/A

4. Addresses

The addresses of persons named in this form are as follows:

Name Address Greencape Capital Pty Ltd Level 2, 5 Martin Place, Sydney NSW 2000

Signature

print name Sophie Gowlands Capacity Company Secretary sign here date 27/08/2021

DIRECTIONS

(1) If there area number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.

(2) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

(3) See the definition of "associate" in section 9 of the Corporations Act 2001.

(4) Include details of:

(a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

(b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

(5) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

(6) The voting shares of a company constitute one class unless divided into separate classes.

(7) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Annexure 1 consists of 1 page and is referred to in Form 605 signed by me and dated 27/08/2021

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[Insert Signature Here]
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Sophie Gowlands Company Secretary of Greencape Capital Pty Ltd

Transactions:

Company Name/Scheme: Orora Limited (ORA) As at: 26/08/2021 Class of security: Ordinary Fully Paid

Date of Change	Holder of relevant interest	Nature of Change	Consideration	Number of Securities	Person's Votes Affected
26/08/2021	Greencape Capital PtyLtd	Sell	10,259,898	-3,062,199	3,062,199
26/08/2021	As above	Sell	344,145	-99,897	99,897
26/08/2021	As above	Sell	1,041,858	-310,956	310,956
26/08/2021	As above	Sell	34,946	-10,144	10,144
26/08/2021	As above	Sell	930,890	-277,836	277,836
26/08/2021	As above	Sell	31,225	-9,064	9,064
26/08/2021	As above	Sell	220,312	-65,755	65,755
26/08/2021	As above	Sell	7,390	-2,145	2,145
26/08/2021	As above	Sell	1,233,617	-368,189	368,189
26/08/2021	As above	Sell	41,378	-12,011	12,011
26/08/2021	As above	Sell	4,301,432	-1,283,818	1,283,818
26/08/2021	As above	Sell	144,283	-41,882	41,882
26/08/2021	As above	Sell	892,603	-266,409	266,409
26/08/2021	As above	Sell	29,941	-8,691	8,691
26/08/2021	As above	Sell	11,607,147	-3,464,303	3,464,303
26/08/2021	As above	Sell	389,337	-113,015	113,015
26/08/2021	As above	Sell	2,817,007	-840,772	840,772
26/08/2021	As above	Sell	94,489	-27,428	27,428
26/08/2021	As above	Sell	5,550,023	-1,656,476	1,656,476
26/08/2021	As above	Sell	186,164	-54,039	54,039
26/08/2021	As above	Sell	20,133,932	-6,009,232	6,009,232
26/08/2021	As above	Sell	675,351	-196,038	196,038
26/08/2021	As above	Sell	1,854,257	-553,427	553,427
26/08/2021	As above	Sell	62,196	-18,054	18,054
26/08/2021	As above	Sell	779,688	-232,708	232,708
26/08/2021	As above	Sell	26,154	-7,592	7,592
Total Number of Securities				-18,992,080

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