In fiscal years 2026, 2025, and 2024, share options and performance rights or performance shares were granted to officers and employees. The exercise price for share options was set at the time of grant. The requisite service period for outstanding share options, performance rights, or performance shares ranges from three to four years. The option awards issued in fiscal year 2025 and prior to fiscal year 2025 and all performance rights and performance shares awards issued are subject to performance and market conditions. Share options issued in fiscal year 2026 have no performance or market conditions. At vesting, share options can be exercised and converted to ordinary shares on a one-for-one basis, subject to payment of the exercise price. The contractual terms of the share options range from six to ten years from the grant date. At vesting, performance rights can be exercised and converted to ordinary shares on a one-for-one basis. Performance shares vest automatically and convert to ordinary shares on a one-for-one basis.

Restricted share units may be granted to directors, officers, and employees of the Company and vest on terms as described in the award. The restrictions prevent the participant from disposing of the restricted share units during the vesting period. The fair value of restricted share units is determined based on the closing price of the Company's shares on the grant date.

Share rights may be granted to directors, officers, and employees of the Company and vest on terms as described in the award. The restrictions prevent the participant from disposing of the share rights during the vesting period. The fair value of share rights is determined based on the closing price of the Company's shares on the grant date, adjusted for dividend yield.

In connection with the Merger, outstanding Berry share-based compensation and cash-settled awards (the "Berry Awards") including restricted stock unit (RSU) and performance share unit (PSU) awards were replaced with Amcor share rights and options awards with generally the same terms and conditions as the original awards subject to the terms of the Merger Agreement. Outstanding short-term Berry options were deemed fully vested at the close of the transaction and unvested options were converted into Amcor option awards with generally the same terms and conditions as the original awards subject to the terms of the Merger Agreement. The grant date of the Berry Awards is considered to be the Merger date for the purpose of the fair valuation of the awards. The aggregate grant date fair value of Berry Awards post-conversion amounted to $356 million of which $310 million related to pre-acquisition vesting and was therefore included as part of purchase consideration.

As of June 30, 2026, 2 million shares were available for future grants under shareholder approved equity incentive plans. The Company uses treasury shares to settle share-based compensation obligations. Treasury shares were acquired through market purchases throughout the fiscal year for the required number of shares.

The total share-based compensation expense settled in equity in fiscal years 2026, 2025, and 2024 amounted to $83 million, $74 million, and $32 million, respectively. Share-based compensation expense in fiscal years 2024 and 2026 was primarily recorded in selling, general, and administrative expenses in the consolidated statements of income. In fiscal year 2025 $34 million of accelerated share-based compensation expense relating to the Merger was recorded within restructuring, transaction and integration expenses, net, with the remainder of share-based compensation expense recorded within selling, general, and administrative expenses in the consolidated statements of income.

As of June 30, 2026, the Company had $109 million of total unrecognized compensation cost related to all unvested share options and other equity incentive plans. That cost is expected to be recognized over a weighted-average period of 1.6 years.


	Years ended June 30,
(in $ per unit of award)	2026		2025		2024
Share options (1)	$	5.06	$	9.37	$	7.25
Restricted share units	41.49		52.98		47.21
Performance rights/shares (2)	33.69		41.60		31.85
Share rights	36.50		46.98		42.10

(1)The fair values of share options issued in fiscal year 2026 were determined using the Black-Scholes option pricing model. The fair values of shares options issued in fiscal years 2025 and 2024 were determined using the Black-Scholes option pricing model and Monte Carlo simulations. The following key assumptions were used for the fiscal years ended June 30, 2026, 2025, and 2024, respectively: risk-free interest rate of 3.8% (2025: 3.6%, 2024: 4.6%), expected share-price volatility of 23.9% (2025: 23.3%, 2024: 21.8%), expected dividend yield of 6.2% (2025: 5.0%, 2024: 5.2%), and expected life of options of 6.5 years (2025: 5.7 years, 2024: 6.6 years).

(2)The fair values of performance rights/shares were determined using discounting and Monte Carlo simulations. The key assumptions for the fiscal years ended June 30, 2026, 2025, and 2024, respectively, were: risk-free interest rate of 3.5% (2025: 3.5%, 2024: 4.8%), expected share-price volatility of 23.3% (2025: 23.9%, 2024: 23.4%), and expected dividend yield of 6.2% (2025: 4.5%, 2024: 5.2%).


	Share options
	Number	Weighted-average Exercise Price
	(in millions)
Share options outstanding at June 30, 2025	6.2	$	50.88
Granted	5.2	41.43
Exercised	(0.1)	40.39
Forfeited	(2.7)	52.79
Share options outstanding at June 30, 2026	8.6	$	44.77
Vested and exercisable at June 30, 2026	0.7	$	58.22

As of June 30, 2026, the share options outstanding have an intrinsic value of $14 million and a remaining weighted-average contractual life of 7.9 years. As of June 30, 2026, the share options that have vested and are exercisable have an intrinsic value of zero and a remaining weighted-average contractual life of 0.7 years.

The Company received $6 million, $15 million, and nil on the exercise of stock options during the fiscal years ended June 30, 2026, 2025, and 2024, respectively. During the fiscal years ended June 30, 2026, 2025, and 2024, the intrinsic value associated with the exercise of share options was $1 million, $5 million, and zero, respectively. The grant date fair value of share options vested was $2 million, $11 million, and $5 million for fiscal years ended June 30, 2026, 2025, and 2024, respectively.


	Restricted share units				Performance rights/shares				Share rights
	Number		Weighted-average Grant Date Fair Value		Number		Weighted-average Grant Date Fair Value		Number		Weighted-average Grant Date Fair Value
	(in millions)				(in millions)				(in millions)
Outstanding at June 30, 2025	0.5		$	50.01	2.4		$	37.63	3.4		$	46.70
Granted	1.1		41.49		2.8		33.69		0.3		36.50
Vested	(0.3)		48.07		—		37.34		(1.6)		46.09
Forfeited	(0.1)		42.53		(1.1)		38.51		(0.1)		45.15
Outstanding at June 30, 2026	1.2		$	41.93	4.1		$	34.62	2.0		$	45.81

Fair value vested ($ in millions)	Restricted share units				Performance rights/shares				Share rights
Year Ended June 30, 2026	$	18			$	—			$	74
Year Ended June 30, 2025	8				25				15
Year Ended June 30, 2024	6				14				24