<SEC-DOCUMENT>0001104659-24-064241.txt : 20240522
<SEC-HEADER>0001104659-24-064241.hdr.sgml : 20240522
<ACCEPTANCE-DATETIME>20240522160246
ACCESSION NUMBER:		0001104659-24-064241
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240522
DATE AS OF CHANGE:		20240522

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Amcor plc
		CENTRAL INDEX KEY:			0001748790
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Y9
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-272449
		FILM NUMBER:		24973192

	BUSINESS ADDRESS:	
		STREET 1:		83 TOWER ROAD NORTH
		CITY:			WARMLEY, BRISTOL
		STATE:			X0
		ZIP:			BS30 8XP
		BUSINESS PHONE:		44 117 9753200

	MAIL ADDRESS:	
		STREET 1:		83 TOWER ROAD NORTH
		CITY:			WARMLEY, BRISTOL
		STATE:			X0
		ZIP:			BS30 8XP

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARCTIC JERSEY Ltd
		DATE OF NAME CHANGE:	20180801

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Amcor plc
		CENTRAL INDEX KEY:			0001748790
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Y9
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		83 TOWER ROAD NORTH
		CITY:			WARMLEY, BRISTOL
		STATE:			X0
		ZIP:			BS30 8XP
		BUSINESS PHONE:		44 117 9753200

	MAIL ADDRESS:	
		STREET 1:		83 TOWER ROAD NORTH
		CITY:			WARMLEY, BRISTOL
		STATE:			X0
		ZIP:			BS30 8XP

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARCTIC JERSEY Ltd
		DATE OF NAME CHANGE:	20180801
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm2414563d15_fwp.htm
<DESCRIPTION>FWP
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 20.85pt 0pt 139.5pt; text-align: right; text-indent: 150.35pt">Filed
Pursuant to Rule 433</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 20.85pt 0pt 139.5pt; text-align: right; text-indent: 150.35pt">Registration Statement Nos. 333-272449<FONT STYLE="font-weight: normal">, </FONT>333-272449-01,</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 20.85pt 0pt 139.5pt; text-align: right; text-indent: 150.35pt">333-272449-02,
333-272449-03, 333-272449-04 and 333-272449-05</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2414563d15_fwpimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 131.8pt; text-align: center"><B>Amcor UK Finance plc</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 131.8pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 105.5pt 0pt 131.7pt; text-align: center; text-indent: -14.7pt">&#8364;500,000,000
3.950% Guaranteed Senior Notes due 2032</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 105.5pt 0pt 131.7pt; text-align: center; text-indent: -14.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 131.7pt; text-align: center">With full and unconditional guarantees</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 131.75pt; text-align: center">as to payment of principal and
interest by each of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 131.7pt; text-align: center">Amcor plc</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 131.7pt; text-align: center">Amcor Finance (USA), Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Amcor Group Finance plc</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Amcor Pty Ltd</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Amcor Flexibles North America, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 202.55pt 0pt 198.65pt; text-align: center; text-indent: -0.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.6pt 0pt 131.8pt; text-align: center">Pricing Term Sheet &#8211; May
22, 2024</P>

<P STYLE="border-bottom: Black 1pt solid; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt; width: 30%"><FONT STYLE="font-size: 10pt">Issuer:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt; width: 70%"><FONT STYLE="font-size: 10pt">Amcor UK Finance plc</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Guarantors:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Amcor plc, Amcor Finance (USA), Inc., Amcor Group Finance plc, Amcor Pty Ltd and Amcor Flexibles North America, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Expected Ratings*:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Baa2 (Negative) (Moody&#8217;s) / BBB (Stable) (S&amp;P)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Principal Amount:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">&#8364;500,000,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Ranking:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Senior Unsecured</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Format:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">SEC Registered Global Notes</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Trade Date:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">May 22, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Settlement Date**:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">May 29, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Maturity Date:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">May 29, 2032</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Benchmark Bund:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">DBR 0% due February 15, 2032</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Benchmark Bund Price and Yield:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">82.790 / 2.473%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Spread to Benchmark Bund:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">+160.3 bps</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Coupon:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">3.950% per annum</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Re-Offer Yield:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">4.076% </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Re-Offer Price:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">99.154%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Mid-Swap Yield:</FONT></TD>
    <TD STYLE="text-align: justify; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">2.796%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Spread to Mid-Swap Yield:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">+128 bps</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><FONT STYLE="font-size: 10pt">Fees:</FONT></TD>
    <TD STYLE="text-align: justify; width: 70%"><FONT STYLE="font-size: 10pt">35 basis points</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">All-in Price:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">98.804%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Redemption Amount:</FONT></TD>
    <TD STYLE="text-align: justify">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">100% of face value at Maturity Date</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 25.25pt; text-align: justify"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Interest Payment Dates:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Payable annually in arrears on May 29 of each year, commencing May 29, 2025 and ending on the Maturity Date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Optional Redemption:</FONT></TD>
    <TD STYLE="text-align: justify">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Make-Whole
    Call: Comparable government bond + 25 bps at any time before February 29, 2032 Par call at any time on or after February 29,
    2032</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">In the event that the Issuer has redeemed or purchased and
    cancelled Notes equal to or greater than 75% of the aggregate principal amount of the Notes initially issued, the Issuer may redeem, in
    whole, but not in part, the remaining Notes at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, together
    with accrued and unpaid interest on those Notes to, but excluding, the date fixed for redemption.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Day Count Convention:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Actual / Actual (ICMA)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Listing:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">We intend to apply to list the Notes on the New York Stock Exchange (the &#8220;NYSE&#8221;). The listing application will be subject to approval by the NYSE. We expect trading in the Notes on the NYSE to begin within 30 days after the original issue date of the Notes. If such listing is obtained, we will have no obligation to maintain such listing, and we may delist any Notes at any time.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Target Market/PRIIPs:</FONT></TD>
    <TD STYLE="text-align: justify">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Manufacturer target market (MiFID II product governance) is
    eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared
    as not available to retail in the European Economic Area (the &#8220;EEA&#8221;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Manufacturer target market (UK MIFIR product governance) is
    eligible counterparties and professional clients only (all distribution channels). No UK PRIIPs key information document (KID) has been
    prepared as not available to retail in the United Kingdom (the &#8220;UK&#8221;).</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">ISIN / Common Code / CUSIP:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">XS2821714735 / 282171473 / 0234EVAB7</FONT></TD></TR>
  <TR STYLE="font-size: 5pt; vertical-align: top">
    <TD STYLE="font-size: 5pt">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Settlement and Trading:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Through the facilities of Euroclear and Clearstream</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Denominations:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Minimum of &#8364;100,000 with increments of &#8364;1,000 thereafter</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Governing Law:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">New York</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Global Coordinators:</FONT></TD>
    <TD STYLE="text-align: justify">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Citigroup Global Markets Limited</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Wells Fargo Securities International Limited</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Joint Book-Running Managers:</FONT></TD>
    <TD STYLE="text-align: justify">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">BNP Paribas</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">HSBC Bank plc</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Merrill Lynch International</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">Banco Bilbao Vizcaya Argentaria, S.A.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">ING Bank N.V.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">J.P. Morgan Securities plc</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 5pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Concurrent Offering: </FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Concurrently with this offering, Amcor Group Finance plc is offering $500,000,000 aggregate principal amount of 5.450% Notes due 2029 (the &#8220;Concurrent Offering&#8221;). The Concurrent Offering is being made by means of a separate prospectus supplement and not by means of the prospectus supplement to which this pricing term sheet relates. This communication is not an offer to sell or a solicitation of an offer to buy any securities being offered in the concurrent offering. The closing of this offering and the Concurrent Offering are not conditioned on each other.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 9pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">*Note: A securities rating is not a
recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. Credit ratings in respect of
Amcor UK Finance plc may be made available only to a person (x) who is not a &#8220;retail client&#8221; within the meaning of section
761G of the Corporations Act and is also a sophisticated investor, professional investor or other investor in respect of whom disclosure
is not required under Part 6D.2 or 7.9 of the Corporations Act, and (y) who is otherwise permitted to receive credit ratings in accordance
with applicable law in any jurisdiction in which the person may be located.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">**Note: It is expected that delivery
of the Notes will be made to investors on or about May 29, 2024, which will be the fifth business day following the date of pricing of
the Notes (such settlement being referred to as &#8220;T+5&#8221;). Under Rule 15c6-1 of the U.S. Securities Exchange Act of 1934, as
amended, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly
agree otherwise. Accordingly, purchasers who wish to trade Notes prior to two business days before the date of delivery will be required,
by virtue of the fact that the Securities initially will settle in T+5, to specify an alternate settlement cycle at the time of any such
trade to prevent a failed settlement. Purchasers of the Notes who wish to trade Notes prior to two business days before the date of delivery
should consult their own advisor.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">This communication is intended for the
sole use of the person to whom it is provided by the sender. This document may not be reproduced, distributed or published by any recipient
for any purpose. This document has been prepared for information purposes only and does not take into account the specific requirements,
investment objectives or financial circumstances of any recipient. The recipient should seek independent financial, legal, tax and other
relevant advice and should independently verify the accuracy of the information contained in this document.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>MIFID II professionals / ECPs only
/ No PRIIPs KID </B>&#8211; No PRIIPs key information document (KID) has been prepared as not available to retail in the EEA. Manufacturer
target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>UK MIFIR professionals / ECPs only
/ No PRIIPs KID</B> &#8211; No UK PRIIPs key information documents (KID) has been prepared as not available to retail in the UK. Manufacturer
target market (UK MIFIR product governance) is eligible counterparties and professional clients only (all distribution channels).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The Issuer has filed a registration
statement (including a prospectus), as amended, with the SEC for the offering to which this communication relates. The information in
this pricing term sheet supplements the Issuer&#8217;s preliminary prospectus supplement, dated May 22, 2024 (the &#8220;Preliminary Prospectus&#8221;)
and supersedes the information in the Preliminary Prospectus to the extent inconsistent with the information in the Preliminary Prospectus.
Before you invest, you should read the Preliminary Prospectus, together with the prospectus in that registration statement and other documents
each of the Issuer and Amcor plc has filed with the SEC for more complete information about the Issuer, Amcor plc and this offering. You
may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, any underwriter or any
dealer participating in the offering will arrange to send you the Preliminary Prospectus if you request it by calling Citigroup Global
Markets Limited toll-free at +1 800 831 9146 or Wells Fargo Securities International Limited at +44 20 3942 8530.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The information in this pricing term
sheet supplements the Preliminary Prospectus and supersedes the information in the Preliminary Prospectus to the extent inconsistent with
the information in the Preliminary Prospectus. This pricing term sheet is qualified in its entirety by reference to the Preliminary Prospectus.
Terms used herein but not defined herein shall have the respective meanings as set forth in the Preliminary Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">ANY DISCLAIMERS OR OTHER NOTICES THAT
MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY
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