B A L L C O R P O R A T O N I 2 0 2 1 C o m b i n e d R e p o r t B u s i n e s s & S u s t a i n a b i l i t y U p d a t e FPO 9200 West 108th Circle Westminster, CO 80021 USA www.ball.com BALL CORPORATION COMBINED REPORT 2021 Business & Sustainability Update TABLE OF CONTENTS STAKEHOLDER LETTER GLOBAL BEVERAGE PACKAGING ALUMINUM CUPS AEROSOL PACKAGING BALL AEROSPACE SUSTAINABILITY IS OUR BUSINESS STRATEGY PRODUCT STEWARDSHIP SOCIAL IMPACT FINANCIAL DATA ENVIRONMENTAL & SOCIAL DATA BOARD OF DIRECTORS SHAREHOLDER INFORMATION ABOUT OUR REPORTING 01 06 08 09 10 12 14 15 32 33 34 35 36 STRONGER T GETHER Ball Corporation is one of the world’s leading suppliers of aluminum packaging for the beverage, personal care and household products industries. Our sustainable, aluminum packaging products are produced for a variety of end uses and are manufactured in over 70 facilities around the world. We also provide aerospace and other technologies and services to the U.S. government through our aerospace segment. Ball Corporation and its subsidiaries employ 24,300 people worldwide and reported 2021 net sales of $13.8 billion. Throughout the PDF of this report online, click this symbol for additional web content. TO OUR FELLOW STAKEHOLDERS 2021 proved to be another year of notable progress for Ball Corporation. We remained committed to operating our business in a way that generated higher earnings and Economic Value Added (EVA®) dollars and positive returns for our shareholders. Our purpose is driven by an understanding of the important role we play in shaping the future, not just for ourselves, but for the many communities in which we operate and for the planet as a whole. We know we are stronger together when we work across industries and geographies, collectively creating a better future for generations to come. We envision a future in which recycling is a common and everyday practice around the globe, with products of all types being packaged in infinitely recyclable aluminum, and one where critical technologies continuously evaluate the health of our planet and its many ecosystems to give us the intelligence we need to be more responsible and sustainable. Given Ball Corporation’s role in this vision for the future, we took intentional actions to make 2021 a defining year for our organization. With purpose, conviction and through the lens of Drive for 10 — We Know Who We Are, We Know What is Important and We Know Where We Are Going — we established ambitious 2030 sustainability goals that will impact Ball and our entire value chain, and we took deliberate action to define 1 BALL CORPORATION STAKEHOLDER LETTER 2021 $290 EVA DOLLARS* 2020 $271 EVA DOLLARS 2019 $217 EVA DOLLARS * EVArepresentsnetoperatingearningsaftertaxeslessacapitalchargeof 9%aftertaxesonaverageinvestedcapitalemployed($inmillions). our future and allow our growth ambitions to far-reaching supply chain disruptions, and the need change, we have demonstrated that our success become a reality. We have said it before, and we to balance new ways of working and connecting is greatest when we take collective action to make know it to be true, Our Time Is Now, and we remain with each other while prioritizing the health and the world a better place. Further, we are confident on course for making a difference for our customers, safety of our workforce, we continued to innovate we have the right blend of talent and a winning consumers, communities and the planet. In this, our and deliver strong results throughout 2021. product portfolio to continue delivering results and inaugural combined annual and sustainability report, Our performance remains a testament to the advancing our business for decades to come. we invite you to learn about the many ways Ball Corporation achieves strong financial performance through the lenses of environmental, social and unique and inclusive culture we have nurtured, our EVA®-driven owner’s mindset and those Drive for 10 tenets that continue to guide our economic sustainability. POSITIONED FOR ONGOING SUCCESS Despite impacts from the lingering global pandemic, business. The growth outlined in this report reminds us that we are indeed stronger together, and when confronted by challenges and obstacles, like those stemming from the global pandemic and climate Through a combination of resilience, determination and the unprecedented global growth of our aluminum packaging and aerospace technologies businesses, last year we increased comparable diluted earnings per share by 18%. Further, our strong balance sheet and cash flow from operations 2 STAKEHOLDER LETTER underpinned $1.7 billion of disciplined capital long-term, sustainable growth. Ball is committed expenditures strategically aligned to address to improving product stewardship by strategically our global growth agenda. We also increased EVA® dollars by 7% and returned approximately $950 million to shareholders in the form of supporting our customers’ business goals and developing comprehensive net zero emissions and circularity strategies to enable the delivery dividends and share repurchases. With our defined of holistic solutions throughout the entire life purpose in tow, we move forward with a sense of cycle of our products. Our truly collaborative urgency and our sights set on strengthening our approach ensures our entire value chain – suppliers, company’s commitments and increasing consumers’ customers and other business partners – are awareness around sustainability, aluminum and a working together to make a difference in our circular economy, while simultaneously accelerating industry. Across our entire organization, we are our own growth. Our more than 24,300 employees united in our efforts to increase the global recycling are united with a common goal, ready to make the rate for aluminum packaging to 90% through a most of the growth opportunities that await us, combination of initiatives and programs designed while leaving a positive mark on our world. to educate consumers, advance public policy and SUSTAINABILITY IS OUR GROWTH STRATEGY At Ball, sustainability does not refer to ideals or “nice to dos,” but rather imperative business fundamentals that we believe serve as linchpins for upgrade much-needed recycling infrastructure. We remain committed to demonstrating our manufacturing expertise and climate leadership by championing our vision for the future and leading by example. We know true leadership begins 3 BALL CORPORATION STAKEHOLDER LETTER As part of this effort, we recognize the need to increase the speed of our efforts to ensure our global workforce reflects the communities in which we operate. Each of our businesses is focused on our 2025 diversity and inclusion goals, understanding these efforts will enhance Ball’s ability to attract and retain diverse talent, which in turn enhances our ability to innovate for the future and create solutions that address both localized and global business needs. Some examples of these goals include female, ethnic and minority representation, and the recruitment of diverse talent for plant production and leadership roles. In this report, you will learn more about our diversity and inclusion goals, along with the impacts within our own manufacturing operations where place great importance on the social component we anticipate for our businesses and regional we are pursuing real circularity for our products, of sustainability. Across our global organization, operations. Additionally, as part of our focus on streamlining our operations to be as efficient as we are maximizing the positive impact on our enriching our communities, we are aiming for a possible, and taking deliberate actions to source employees and the communities where we live 35% participation rate in giving and volunteer 100% of our aluminum needs from certified and work by defining and actively working toward activities, along with a goal of $1 million in-kind sustainable sources by 2030. To further enhance social objectives focused on inclusion, training and donations by 2025. These commitments are the resilience of our supply chain and strengthen volunteerism – all designed to provide our people intrinsically linked to our Drive for 10 sustainability our roadmap to achieving our carbon reduction with a sense of purpose and belonging. And always, tenet and speak to the determination we have as a targets, we are pursuing and, for many of our Drive for 10 strategy remains foundational to collective group of employees to demonstrate our our manufacturing locations, have already all that we achieve and instills in us the passion leadership position now and well into the future. achieved certifications through the Aluminum and commitment to conduct our business in a way Stewardship Initiative. At Ball, we understand that our growth and industry leadership are made possible by the outstanding contributions of our people, which is why we that elevates our employees and our communities. With these truths in mind, we developed our 2030 Sustainability Goals in a holistic way to also focus on social sustainability and the undeniable importance we place on people, culture and community. READY TO MEET THE DEMANDS OF THE FUTURE As part of our established multi-year succession planning process, we recently announced that Dan Fisher will be assuming the role of CEO, while John Hayes will remain Chairman of the Board. With great confidence in Dan’s readiness and ability to 4 STAKEHOLDER LETTER lead, our board, employees and all of our stakeholders look to Dan as the 12th CEO in Ball’s 142-year history. He will not lead us alone – our entire organization operates within the context of an owner’s mindset, and we each take great pride and assume a high degree of responsibility in making decisions that accelerate our collective progress forward. With our Drive for 10 vision as our guiding light, we remain united in our efforts to capitalize on the opportunities at our doorstep, while shaping a bright future for our global community. As we look ahead, we expect to accelerate our growth even further given the strong demand for sustainable aluminum packaging, our execution on significant aerospace contracted backlog, and strong returns on deployed capital across our innovative product portfolio. Doing so will allow us to exceed our long-term diluted earnings per share growth goal of at least 10% to 15% and increase EVA® dollars generated on a growing invested capital base, all while returning significant value to shareholders. As you will read in this report, our focus on value creation through sustainability is truly a multifaceted approach that directly supports EVA® generation within an environmental, social and economic scope. All of Ball’s businesses – global beverage packaging, aluminum cups, aerosol packaging and aerospace technologies – are anchored in our Drive for 10 vision and sustainability commitments, and we are ready to continue defining the benchmark for excellence while leading our industry forward. With resounding certainty, we know that we are stronger together, so we look to the future with great optimism and an eagerness to demonstrate that together we can and will achieve extraordinary things. JOHN A. HAYES Chairman and CEO, Ball Corporation DANIEL W. FISHER President and CEO-elect, Ball Corporation 5 BALL CORPORATION GLOBAL BEVERAGE PACKAGING Our global beverage business manufacturing footprint and the implementation of new capabilities that together position Ball as the customer’s first choice and a true solutions-based par tner ready to address the increasingly complex challenges encountered in today ’s world. continues to focus on the expansion of our Demand for aluminum beverage cans continues to outstrip supply around the globe. Our global engineering and operations teams are executing at a high level and because of their dedication, we exited 2021 with an additional 12 billion units of newly installed capacity. Our product portfolio continues to support our customers’ new brands as well as broaden the addressable market for aluminum cans and bottles. Growth is further supported by our ambitious 2030 Sustainability Goals and Our Vision Towards a Perfect Circle , which lays the foundation for the transition that is needed to scale truly circular packaging solutions and address climate challenges. We are operating safely, controlling the things we can control, recovering costs and delivering high-quality cans to our customers. Year over year, we reduced carbon emissions associated with the direct operations of our global beverage business by 20%, primarily due to several renewable energy projects which came online in 2021. NORTH AMERICA: In North America, beverage year-end volumes were up 4% and specialty mix improved to 37%. We installed four can manufacturing lines in our Glendale, Arizona, and Pittston, Pennsylvania, facilities and started production at our new aluminum ends manufacturing plant in Bowling Green, Kentucky. Across our customer base, beverage can demand was strong among all brand categories: alcohol, soft drinks, energy and water. We expect this favorable trend to continue and support additional EVA®-enhancing opportunities, including the 6 GLOBAL BEVERAGE PACKAGING SOUTH AMERICA: EMEA: In South America, beverage year-end shipments Our EMEA team executed very well. Segment were up 3% and specialty mix improved to 69%. volume for 2021 increased 8% and specialty mix Ball continues to experience upward momentum in improved to 56%. Future growth will be driven by South America, and our additional investments in new and existing categories utilizing cans and our new Frutal, Brazil, plant as well as other projects additional regional plant opportunities emerging to will continue to support regional growth in 2022 and fulfill demand in the biggest can markets across beyond. Additionally, the 40% female representation EMEA. Further, our new greenfield plants in the at our Frutal plant demonstrates our actionable U.K., Russia and Czech Republic are supported by commitment to diversity and inclusion, and the long duration contracts for committed volumes with impact we are making as a result of our focus on global and regional key accounts. people and culture. The inaugural European Recycling Tour was carried To encourage recycling habits and promote out by Every Can Counts , an industry activation circularity, Ball announced plans to create Brazil’s supported by Ball, in 19 European countries and at first circular economy lab on the island of Fernando nearly 20 landmarks. The initiative reached more de Noronha , one of the country’s most popular than 4 million people during 2021 – highlighting tourist destinations and a leader in sustainable the value of beverage can tourism. The lab will promote real circularity on the recycling and inspiring island by centralizing the collection and recycling of people to put their cans aluminum cans at a new, state-of-the-art facility. in the right bin while ‘on the go.’ AcrossEurope,the‘Every CanCounts’recyclingtour reached4millionpeople in2021andencourages ‘onthego’canrecyclingat landmarksin19countries. BallannouncedplanstocreateBrazil’sfirstcircular economylabonthepopulartouristdestinationIslandof FernandodeNoronha,aleaderinsustainabletourism. 7 recently announced additional capacity investments in Nevada and North Carolina which will serve long- term committed volume with global and regional strategic customers. One way Ball is driving thought leadership around real circularity is by commissioning comprehensive recycling research. In 2021, in conjunction with the international environment consultancy Eunomia, we released our 50 States of Recycling report, which contains the first state-by-state comparison of recycling rates for the most commonly used beverage containers across the United States. We have been using data from this report to inform stakeholders and to advocate for effective and fair policies that can radically increase the aluminum recycling rate in the U.S., which is critical to achieving our sustainability goals and driving resilience in our supply chain. BALL CORPORATION ALUMINUM CUPS The Ball Aluminum Cup™ represents a great team signed contracts with Amazon and other combination of innovation and sustainability – a major retailers to provide 16-ounce, 20-ounce and fully recyclable product that provides consumers 24-ounce cups to consumers across the country. with an enhanced drinking experience. The aluminum cup was designed to address a need that existed for sporting and entertainment venues that wished to provide their patrons with a premium drinking experience. The cup is made of easily and infinitely recyclable aluminum and, due to its increasing popularity and established recycling infrastructure, our opportunity for continued growth is immense. Designing the aluminum cup for sustainability means continually innovating and we have identified a pathway for reducing the weight of the product by 10% over the next two years. Additionally, we partnered with our aluminum suppliers to arrange for all aluminum sheets used in the production of cups to be of 90% recycled content origin beginning this year. These initiatives will result in The first cups manufacturing plant began an estimated greenhouse gas (GHG) production in Rome, Georgia, late in 2020, and emissions savings of 36.9 metric we have already increased production output tons per one million cups produced. to meet growing product demands by investing in another manufacturing line. Following this secondary investment, we now have the ability to produce multiple cup sizes within a single manufacturing location. In 2021, our cups team launched “The Party Starts Here” marketing campaign , featuring Jason Momoa, to engage and educate consumers about the infinite recyclability of the aluminum cup and drive volume growth. In 2021, the cup was officially available for purchase at major retailers in all 50 states across the U.S., representing more than 20,000 points of retail distribution. Additionally, our aluminum cups Ball expanded our partnership with Kroenke Sports & Entertainment (KSE) in 2021 as a way to increase aluminum use and recycling at its sporting venues, including SoFi Stadium in Los Angeles and in Denver. As a result of this effort, all beverage packaging used in Ball Arena is shifting Ball Arena to aluminum, which supports the venue’s efforts to reduce plastic use during events. Recycling is foundational to our sustainability ambition and the primary reason we partnered with a third-party consultancy to conduct a recycling rate survey for all cup materials, which confirmed 8 JasonMomoatoutsthe infiniterecyclabilityof theBallAluminumCup inournationalTVspot. SinceOctober2020, BallArenahaseliminated 271,000plasticcupsand bottlesfromthevenue. that plastic cup recycling rates are at or near zero percent in the United States and Europe. Since 2020, Ball Arena has eliminated 271,000 plastic cups and bottles from use. By switching beverages to aluminum cans, cups, and bottles, venues are able to capture value by collecting a cleaner stream of aluminum. As a result of this effort, all beverage packaging used in Ball Arena will continue to transition from plastic to aluminum in 2022 to achieve 100% aluminum beverage packaging. AEROSOL PACKAGING Ball’s aluminum aerosol packaging offers unique and sustainable solutions for single-use recyclable and refillable options in the personal care, household and beverage packaging products categories. To meet customer demands, our aluminum aerosol business is undergoing a transformational and strategic shift to offer sustainable options for products that have historically been packaged in plastics. As we look ahead, we continue to approach the business with a holistic EVA® mindset – looking for ways to generate long-term, sustainable growth, while expanding our product portfolio and promoting aluminum packaging as an alternative to other substrates. As the business continues to pivot into exciting new refillable and reclosable products, we are optimally positioned to help our customers address challenges by providing unique, forward-thinking solutions that balance financial interests with our vision for a more sustainable future. Across the business, we continue to amplify the sustainability credentials of aluminum – leveraging our recyclable, impact-extruded aluminum bottles as single-use or refillable and reclosable options for many personal care, household and beverage packaging products. We believe in a holistic approach to achieve significant carbon footprint reductions across our entire range of products, at a global scale. More than 60% of the aluminum supplied for our aluminum slugs originated from low-carbon sources from hydropower aluminum smelters with carbon emissions < 4 tCO2e/t aluminum, in 2021. In addition, we leverage ReAl® - a proprietary and patented alloy composition that increases the strength of the aluminum slug used in manufacturing- to produce cans that are up to 30% lighter (compared to a standard aluminum aerosol can) while retaining their strength and structure. Lastly, we know how important it is to increase recycling rates in order to bring more recycled content back into the system, and this is why Ball’s aerosol cans incorporate up to 50% recycled content, on a global scale. Our aluminum aerosol business’ recent sustainability advancements showcase what can be achieved through material and emission reduction goal-setting, innovation and partnership with customers in a truly solutions-oriented manner. 9 BALL CORPORATION BALL AEROSPACE When we look at our por tfolio of businesses, we understand they are more alike than different, and though our aerospace team has technologies and a customer mix that is unique to them and different from the rest of the company, the oppor tunities for long-term, sustainable growth remain the same. As we continue to scale this business, we are focused more than ever on connecting people and capabilities across our organization, realizing that our immediate and future success is defined by our technical expertise, ability to address many of the issues faced by our nation and the planet, and our thought leadership for shaping foundational missions. For the year, aerospace segment operating earnings were up 10%, supported by solid technical and program execution. Landsat Addresses Natural Resource Crisis, Human Environmental Damage, and Biodiversity Loss NASAlaunchedtheLandsat9satellitewiththeBallOperationalLand Imagerinstrument(OLI-2). TheLandsatdatarecordprovidesaunique long-termviewoflandcoverandlandchange.Itisusedtoidentifyand maphowhumandevelopmentandclimatechangearealteringourworld, fromtrackingtheadvanceofdesertification,floodingchangestoriver networks,landscapeimpactsofadaptiveagriculture,andtheextentof deforestationactivities. 10 In 2021, our aerospace team expanded existing Our aerospace business plays a key and cutting- infrastructure by opening a new state-of-the- edge role in the development of technologies that art Payload Development Facility in Broomfield, evaluate the health of our planet, including its Colorado, and expanding the Aerospace ecosystems and weather. Many of our programs Manufacturing Center in Westminster, Colorado. and missions are driven by sustainability and The team successfully launched the Ball-built OLI support not only for our commitments, but the land imaging instrument on NASA’s Landsat 9 commitments of those with whom we partner. satellite, the Imaging X-Ray Polarimetry Explorer We know extreme weather and failure to take action (IXPE) and the optics and mirror systems aboard against climate change create the James Webb Space Telescope. NASA’s immediate and long-term heliophysics Global Lyman-alpha Imager of the risks for our planet. Ball Dynamic Exosphere (GLIDE) mission, and NOAA’s Aerospace remains Space Weather Follow On (SWFO-L1) satellite, at the forefront to also a project for Ball, will study solar winds and develop technologies forecast solar weather, and will launch together that lead to informed in the future. In addition, We are partnering with action. Carrying that NASA’s Goddard Space Flight Center to develop the momentum forward, wide field instrument for the Nancy Grace Roman the business continues Space Telescope and providing the spacecraft to be positioned for growth and telescope for the Spectro-Photometer for the throughout 2022. History of the Universe, Epoch of Reionization and Ices Explorer (SPHEREx). BALL AEROSPACE MethaneSAT Addresses Climate Action Failure and Human Environmental Damage Weareintheprocessofbuildingthe MethaneSAT instrumentforthe EnvironmentalDefenseFund(EDF). Methaneisapowerfulgreenhousegas, 80timesmorepotentthanCO2inthefirst 20yearsafteritsrelease;italsocontributes toground-levelozone,resultinginmillions ofprematuredeaths.Wearepartneredwith EDFtodevelopasatellitemissionthatwill provide“unimpeachabledata”onmethane emissionsfromsourcesaroundtheworld. Whenmethaneemissionsareaccurately andconsistentlymeasured,countriescan designandimplementpoliciestomitigate methaneemissions.Thiswillreduce exposureandhealthriskstovulnerable populationsandprovideametricto addressclimatechangegoalsidentified bytheinternationalcommunity. TEMPO also Addresses Climate Action Failure and Human Environmental Damage TEMPO willbethefirstspace-based instrumentinNorthAmericatomonitor airpollutionandairquality,providing hourlydata.Thesemeasurementswill allowresearcherstoseehowpollution episodesevolveoverhours,days andweeks,andhowitinteractswith weatherpatternsastheymoveacross thelandscape.Partneringwiththe EnvironmentalProtectionAgency(EPA), theTEMPOmissionwillrevolutionizeair qualityforecastsandemissioncontrol strategiesandenableearlypublicwarning ofhealthrisksduetopollutionevents. 11 BALL CORPORATION SUSTAINABILITY IS OUR BUSINESS STRATEGY To meet the world’s sustainable development goals (SDG) and move rapidly towards a net zero and circular economy, governments and the private sector must make bold commitments coupled with detailed roadmaps and action plans. To make progress, the economy must undergo a significant transformation, underscored by a dramatic shift in capital towards businesses that are positioned to solve net zero and circular economy-related challenges. That is why it is more important than ever that ambitious, long-term goals serve as the critical foundation to Ball’s environmental, social and governance (ESG) strategy, to ensure that we position our customers to succeed in this transformation and be part of the solutions to these unique challenges. Sustainability is our business strategy — our 2030 goals address critical business challenges, while positioning Our goals are dynamic and interlinked. Our circularity strategy not only helps customers reach their packaging goals, but also contributes significantly to their carbon reduction targets us for long-term, accelerated growth. and strengthens the aluminum can sheet supply chain. Our Social Impact and Product Stewardship focus communicates a sense of broader purpose to our existing and prospective employee base, allowing us to attract and retain top talent in an increasingly tight labor market. In alignment with our Drive for 10 strategy, our 2030 goals articulate our vision for the future and an understanding of Where We Are Going. These goals demonstrate that we are aligned with our customers, that we are ready to partner with our suppliers, and that Ball is a company where employees can and do feel a sense of purpose. We know that while progress may not always be linear, achievement will be driven by the strategy and investments we make today, which is why we are developing, implementing and adjusting our roadmaps to align. 12 PRODUCT STEWARDSHIP Our customers are establishing ambitious, long-term goals, and are securing long-term partners that will support them in achieving their sustainability goals and creating new business opportunities as a result. With the world’s heightened attention on the role and impacts of packaging, our customers have expanded their supplier evaluation schemes and now consider various product stewardship elements in addition to price, quality and consumer experience. Because of its unique sustainability credentials, aluminum is best positioned to support our customers as they begin to transition toward a net zero and circular economy. Our product stewardship goals will allow Ball to make the most of opportunities by differentiating us from competitors and positioning aluminum cans, bottles, and cups, as well as the aerospace capabilities we provide, as not only the solutions of today, but also as the solutions of tomorrow. SOCIAL IMPACT Our employees are our greatest strength and our most important asset, not only to ensure the continued success of our business but to maximize our positive social impact in the communities where we operate. We recognize that attracting and retaining the next generation of top talent requires us to be more vocal about our purpose, while explaining how we balance economic success, environmental protection and social progress. Fostering an environment where employee health, safety and well-being are paramount and driving diversity and inclusion progress within our employee base will enhance our impact on the world. SUSTAINABILITY IS OUR BUSINESS STRATEGY 13 BALL CORPORATION STRATEGY & 2030 SUSTAINABILITY GOALS * 14 STRATEGY & 2030 SUSTAINABILITY GOALS * ** *Allgoalsaretobecompletedby2030,unlessotherwisestated. **During2022,BallCorporationwillbereviewingitsdiversityandinclusiondatareportingmethodologytoenableglobalaggregationaswellasrecentorganizational changes,however,ourglobalambitionandalignmenttoincreasethediversemixofourworkforcewillremainunchanged. 15 BALL CORPORATION REAL CIRCULARITY Real circularity involves the continuous recovery and reuse of materials, with nothing lost during the full circle. It is not enough for products to be recyclable, they need to be physically recycled in the real world. Aluminum can be infinitely recycled without any loss of quality. The recycling yields for aluminum cans are extraordinarily high (>95%), its compaction ratio is superior to other materials (12:1 for cans), and it retains high economic value ($2,187 per metric ton of used beverage cans in the United States in mid-February 2022, 3.5 times more than PET and 82 times more than amber glass) – thereby demonstrating a preferred example of a packaging material that is well-suited for real circularity. HOW MUCH MATERIAL IS LOST? This has been underlined by new research from the International Aluminum Institute, which compared the circularity of aluminum, glass and plastic beverage packaging across Brazil, China, Europe and the United States (see graphic on the next page). The research indicates that aluminum is outperforming other materials at all stages of the waste management system, and that the aluminum can ‘is the best placed material to support a full circular economy,’ with current recycling rates in those regions at 71% vs. 34% for glass bottles and 40% for PET bottles. As the world’s largest manufacturer of aluminum packaging, these findings support our sustainability and business strategy and afford us with a distinct advantage in relation to new and forthcoming regulations that aim to increase the circularity of packaging. It also allows us to support our customers with their efforts 16 REAL CIRCUL ARITY Every Can Counts encourages ‘on the go’ can recycling in 19 countries across Europe and in Brazil. to achieve their individual circularity and climate percentage of those cans being recycled back into convenient, efficient and cost-effective deposit goals, as recycled aluminum uses 95% less energy can sheet. return systems (DRS). compared with virgin material. We are collaborating with industry partners, policy DEPOSIT RETURN SYSTEMS 90% RECYCLING RATE, 85% RECYCLED CONTENT makers, NGOs and other stakeholders to increase During 2021, we became very vocal in our support As part of our 2030 goals, we are committed to global recycling rates for aluminum beverage cans, of the introduction of a potential nationwide DRS in achieving 85% average recycled content (up from bottles and cups to 90% by 2030 from their current the United States, something that has not previously 61% in 2020) in the aluminum we use to produce level of 69%. We are in the process of drawing up been discussed or considered at the federal level. billions of beverage cans, bottles and cups each a detailed low carbon roadmap for the aluminum DRS have been introduced recently in Slovakia and year. To facilitate our progression towards circularity beverage packaging sector that will outline how we Latvia, and are being discussed in many countries – what we call Our Vision Towards a Perfect Circle – can achieve a 90% recycling rate through a broad across the European Union (EU) as the fastest way we will need more cans to be collected with a high portfolio of measures, including support for modern, to achieve the EU’s 90% plastic bottle collection rate 17 BALL CORPORATION REAL CIRCUL ARITY cans and bottles to be collected, sorted and recycled back into can sheet. That is why we are working with partners to determine how additional re-melting and rolling capacity can be added over the next few years to ensure can sheet supply aligns with demand and that we are meeting stakeholders’ sustainability expectations. Our customers want more recycled content, and DRS policies will increasingly include a first right of refusal to ensure that cans are recycled back into cans and bottles. In addition, we are seeing some promising new sorting and recycling technologies – such as alloy separation and purification technologies for post-consumer scraps – that may transform parts of our value chain and enable even more product-to-product recycling. TRACKING PLASTIC POLLUTION IN OUR OCEANS Ball Aerospace was recently selected by NASA goal before 2030. In the UK, DRS is expected to be reverse vending machines. We believe that some to participate in new technology to find ocean in operation by mid-2023 in Scotland, and across innovations will make redeeming deposits more plastic. FLuorescence Ocean Ranging Observations the rest of the country soon thereafter. In the convenient for consumers – for example by installing (FLORO) will explore the effectiveness of United States we are working with Reloop and reverse vending machines which can handle a bag fluorescent lidar, combined with other techniques, other partners on modernizing and updating with up to 100 containers at once. We are also to identify and track marine debris and plastic. existing DRS in several states in the Northeast working on pilot initiatives related to “smart DRS” Building on Ball’s heritage in lidar research and our to ensure more packaging is captured and that which, with serialized coding for each individual passion for addressing environmental challenges, sustainable funding mechanisms are put in place. packaging item, could be a game changer, bringing the FLORO project engages our team with experts All existing DRS are based on an old model of smart data and consumer convenience advantages. from Woods Hole, NOAA and the Ocean Voyages Institute to address a critical global problem. consumers lining up in shops with large bags of With the global trend for DRS and more producer beverage packaging to redeem deposits from responsibility legislation, we expect more aluminum 18 CLIMATE LEADERSHIP Reducing GHG emissions, both in our own operations and across our value chain, minimizes our packaging’s carbon footprint and positions aluminum as a low-carbon, circular packaging of choice. Subsequently, this provides Ball with a competitive advantage by allowing us to seize new oppor tunities, while reducing financial and business risks associated with the transition to a low carbon economy. In 2021, calls for action on climate intensified as the Intergovernmental Panel on Climate Change issued a Code Red warning for humanity and world leaders gathered at COP26 in Scotland to discuss a path towards Net Zero. As a result, many of our customers, suppliers and retailers made bold climate pledges to demonstrate their commitments to achieving Net Zero by 2050 or earlier. To support them, and to maximize the opportunity for aluminum packaging, Ball reaffirmed its commitment during 2021 to a 1.5 degree Celsius aligned 2030 science- based target. We also extended our pledge by stating that we aim to achieve Net Zero carbon emissions across our value chain before 2050. Our 2030 targets, approved by the Science Based Target Initiative , represent our pledge to reduce absolute GHG emissions from our own operations (Scope 1 and 2) by 55% against a 2017 baseline, and absolute emissions from our value chain (Scope 3) by 16%. Our Net Zero pledge is an important signal not just to our customers and suppliers, but as an internal message acknowledging that 2030 goals are an intermediate step on our journey towards Net Zero. We have begun to develop a detailed roadmap to Net Zero that will help us optimize carbon reduction and capital allocation. The roadmap will detail timelines for when we expect new technologies, innovations and legislation to come to fruition at scale, allowing us to achieve deep decarbonization and neutralization of remaining residual emissions. 19 BALL CORPORATION CLIMATE LEADERSHIP 2021 +6% SCOPE 1 EMISSIONS 2021 -32% SCOPE 2 EMISSIONS 2021 +19% SCOPE 3 EMISSIONS GHG EMISSIONS FROM OUR OPERATIONS sourced 44% of its global electricity demand in Despite significant volume growth of 11% in The two key ways to achieve a 55% absolute 2021 from renewables. These efforts allowed us to our global beverage business – and a consequent reduction in GHG emissions from our own reduce approximately 390,392 metric tons of GHG absolute growth in energy use across Ball – we operations – despite the significant growth we emissions year-over-year. foresee for Ball during this decade – will be to move to 100% renewable electricity and to improve energy efficiency by 30% across our manufacturing plants. While our existing plants implemented a number of energy efficiency projects during 2021, the energy efficiency of our beverage can manufacturing We were able to make great strides on renewable remained flat year over year. This was driven by increased absolute scope 1 GHG emissions by 6% and decreased absolute scope 2 GHG emissions by 32% from our own operations year over year during 2021, driven largely by increases in renewable electricity use. energy during 2021, with 254 megawatts of new the opening of four new plants and multiple line GHG EMISSIONS FROM OUR VALUE CHAIN wind energy capacity brought online in the United additions that come with lower efficiencies during In 2021, we began to articulate our vision to achieve States, Sweden and Spain through three virtual the first few months of operation. Once these new a global recycling rate of 90% for beverage cans, power purchase agreements that were signed state-of-the-art plants and line additions achieve bottles and cups, and an average 85% recycled in 2019 and 2020. With the electricity produced anticipated levels of manufacturing performance, content in those products (see page 17). These from these projects, plus additional guarantees we expect them to contribute significantly to our two levers, combined with additional GHG emission of origin purchased and retired in Europe, Ball energy efficiency goals. reduction successes by the primary aluminum 20 CLIMATE LEADERSHIP pilot to produce aerosol cans with a reduced carbon footprint. PRODUCT CARBON FOOTPRINT Building on the comparative beverage packaging life cycle assessment (LCA) we released in 2019 , we are planning to finalize two additional peer- reviewed LCAs during 2022, one for cans and competing substrates in South America and one for India. In addition, we continue to perform internal LCA modeling to assess the impact of various projects on the carbon footprint of our cans (see graph). This demonstrates that we are the partner of choice to deliver on customer’s carbon reduction goals. industry, will contribute to our 16% reduction target recycled content in the can sheet we purchase, and THE AEROSPACE OPPORTUNITY in our absolute Scope 3 GHG emissions. increased deployment of new capital goods for new Ball Aerospace is advancing climate science and beverage can plants and manufacturing lines. helping to protect life on Earth by designing and Changes to recycling infrastructure and legislation take time, and we do not expect recycling rates and In 2021, we participated in the Aluminium for recycled content for our products to increase in a Climate initiative, part of the Mission Possible linear way during this decade. Instead, legislation Partnership, which is co-led by the World Economic in areas such as deposit return schemes will be Forum. This initiative is developing Net Zero implemented in various markets from 2024 on pathways for the sector in direct collaboration with and additional remelting capacity may come the industry. In addition to transitioning to fossil building space-based air pollution monitoring, land imaging and operational weather instruments and spacecrafts. Ball-built instruments, such as TEMPO, GMI and CALIPSO, gather extremely accurate data on pollution, precipitation and the impact that clouds and aerosols have on the Earth’s climate. online soon thereafter. free energy sources, an additional way of helping Climate-related data and insights, and the Our Scope 3 emissions increased by 19% year-over- year in 2021. This was driven by the production of almost 10 billion more cans compared to the previous year. Additionally, we attribute the increase to improvements in our suppliers’ GHG accounting, a higher level of accuracy around actual decarbonize direct emissions resulting from primary hardware used to gather them, are increasingly aluminum production is through the use of inert critical to gaining a better understanding of anode technology for aluminum smelting. Currently, climate change. Overall, they assist with research this technology is not commercially available. that aims to better understand how we can In 2021, we set up a collaboration with a primary decarbonize quickly, while pointing to ways in aluminum producer to use several tons of aluminum which we can become more resilient in the face made with inert anode technology from an industrial of a changing climate (see pages 10-11). 21 BALL CORPORATION RESPONSIBLE SOURCING With increasing demand for aluminum and other products around the world, we remain focused on sustaining a consistent supply, while mitigating associated environmental, social and governance (ESG) impacts. To accomplish this, we partner directly with our suppliers and leverage our strategic sourcing framework as a foundational guide, which incorporates sustainability criteria. We also work alongside our suppliers in various cross-industry platforms that drive innovative sustainability solutions such as the World Economic Forum’s Mission Possible Partnership. More than 10,000 companies worldwide supply goods and services to Ball, and our top 100 suppliers account for the majority of our spend, primarily in two categories: aluminum and coatings. The supply chains for these categories are complex, global and diverse. During 2021, we increased our annual spend with minority- and women-owned business (MWBE) suppliers in the United States by 30%. Many of our strategic suppliers have well-established sustainability programs and good track records of improved ESG performance. We maintain continuous dialogue with them as we collaborate to reduce potentially negative impacts and achieve common goals pertaining to circularity, climate, resource efficiency, material health, diversity and inclusion, and other relevant sustainability areas. In 2021, we held our first Global Supplier Forum, which provided opportunities for our executive leaders to address over 80 key suppliers and engage in discussions pertaining to the need to prioritize sustainability in order to achieve long-term growth in our packaging businesses. 22 ALUMINUM Brazil. The certification designates Ball as the material that is produced and processed through The most significant ESG impacts across our value first aluminum packaging company in South America the value chain, from mining and re-melting to chain occur in aluminum production. Mining of to achieve both certifications and builds upon the casting, rolling, can manufacturing and filling. RESPONSIBLE SOURCING bauxite, for example, is associated with concerns success of our 22 manufacturing plants in Europe, for safety, biodiversity and human rights, while Middle East and Africa (EMEA) that achieved both smelting, casting and rolling can come with certifications in 2020. We are working with all of Ball’s aluminum suppliers to achieve ASI certification for their operations, as well as their upstream supply partners. At the end significant energy consumption and GHG emissions. One important way to reduce these impacts is to maximize the use of recycled aluminum, which is why we launched our Vision for a Perfect Circle in 2021 and established a goal to achieve an average 85% recycled content by 2030 (see page 17). Ball has established a goal of sourcing 100% of our aluminum needs from certified sustainable sources by 2030, in particular through certification with the Aluminum Stewardship Initiative (ASI). While our circularity strategy helps drive the sustained availability of aluminum in our supply chain, ASI certification will enable Ball to create a stronger and more resilient supply chain, with both initiatives strengthening our roadmap to achieving carbon reduction targets. ASI certification provides important external verification of our commitment to continuous improvement on responsible sourcing and our sustainability leadership in the industry. In November 2021, we received certification to the ASI Performance (PS) and Chain of Custody (CoC) standards for our 13 beverage packaging South America plants, as well as our regional office in In early 2022, our two beverage can plants in India of 2021, 100% of Ball’s supplier rolling mills around also received both certifications , meaning that the world were members of ASI, 71% of our procured by then 52% of Ball’s packaging plants were ASI metal volumes came from mills with Performance certified. We expect all remaining plants to become Standard certification, and 43% from mills that had certified by year-end 2022. achieved both PS and CoC certification. To mark the achievement of ASI certification Only when our manufacturing plants achieve both in South America, we commissioned a special forms of ASI-certification, can they start to receive edition celebration can designed and account for ASI-certified metal. by Brazilian artist Jaqueline Sampin (pictured left). The colorful can has a QR code that leads to a webpage listing the many benefits ASI has for brands and how they can further their responsible purchasing programs by partnering with Ball to bring ASI-certified cans to market. The ASI Performance Standard is a measure of how much effort Ball is investing across its plants to assess, manage and disclose its ESG impacts, with a focus on life cycle thinking, recycling, GHG, health and safety and human rights. The CoC Standard establishes requirements for close monitoring of 23 BALL CORPORATION RESOURCE EFFICIENCY We strive to accelerate our global growth while at the same time increasing our resource efficiency by focusing on aluminum, energy and water use. By increasing efficiencies across over 70 facilities, 13 major aerospace locations and various office locations, we reduced the environmental footprint of our products in 2021. LIGHTWEIGHTING Finding new ways to further reduce the weight of our products, while preserving quality and the consumer experience, decreases our need for aluminum and lowers the carbon footprint of our packaging, thereby allowing our business, customers and retailers to meet ambitious carbon reduction goals. Even small weight optimizations save significant amounts of metal, energy and emissions when multiplied by the billions of containers that Ball produces each year. Our global portfolio of STARcans is setting new standards for weight optimization. Compared to other beverage cans of the same size, it reduces weight by 3% to 8%. In 2021, we announced a new commitment to use lightweight STARcan designs in 80% of our global beverage can production by 2030. By the end of 2021, STARcans accounted for 23% of the global volume of aluminum beverage cans we produced, saving 6,100 metric tons of aluminum during the year, equivalent to reducing approximately 27,760 metric tons of GHG emissions. In addition, Ball’s aerosol packaging business has developed a new iteration of ReAl®, a lightweight alternative to standard aluminum slugs used in aerosol can manufacturing. This version, which went into commercial production in 2021, permits up to a 30% lighter container to be produced, compared to a standard impact extruded can. Globally, our aerosol division has now converted 45% of its production to lightweight ReAl® cans, saving 1,990 metric tons of aluminum throughout the year, which equates to reducing approximately 16,400 metric tons of GHG emissions. 24 RESOURCE EFFICIENCY ENERGY by working with key suppliers to begin testing To build on our equipment level water monitoring We are committed to reducing the amount of electric heating options at our innovation center in and AI driven insights, in 2021 we began developing energy required to produce each beverage can Colorado. Through electrification of thermal energy a roadmap for water management for our beverage in our manufacturing plants by 30% during this loads and the use of renewable electricity, there is packaging manufacturing plants, which includes decade. This primarily means cutting back on our great potential to reduce fossil fuel use and Scope 1 guidance on water reduction, water recycling and use of electricity and natural gas. Since our Global GHG emissions. Beverage Packaging business accounts for most of our energy consumption – 89% of our total of 4.8 million megawatt hours in 2021 – much of our efforts are focused in this business. Given we have plans in place to eliminate all GHG emissions associated with electricity by 2030 through the use of 100% renewable electricity, our attention is now on reducing the use of natural gas. WATER We aim to use water responsibly by reducing demand, increasing reuse in our manufacturing processes and maintaining its quality. We leverage wastewater treatment technologies to ensure our To further accelerate our progress, in 2021 we operations do not adversely local watershed engagement in areas of high water stress. We will pilot this management plan in 2022 at one of our high-risk water sites prior to rolling it out to the global network. Many Ball plants around the world are now being impacted by more stringent contaminant discharge limits. Most existing wastewater treatment facilities do not address biochemical oxygen demand (BOD), so as BOD discharge continued to invest in energy monitoring across affect water quality near our plants. limits decrease, Ball has decided to pilot our global network of beverage can manufacturing Across the globe, we are working to new membrane and fixed bed reactor systems plants. In order for Ball to harness the power of this minimize water use and to maintain water quality to enhance wastewater clean-up. Trials were data, we began implementing a software solution by re-evaluating the design of our can washers, conducted in our Rome, Georgia, and Glendale, with Artificial Intelligence (AI) to make predictive, reusing water, training employees and implementing Arizona, plants in 2021. Lessons learned through accurate, and actionable decisions to optimize our water-saving and treatment technologies. these trials will allow us to meet lower discharge roadmap on reducing energy and water use, carbon emissions and utility costs. This system will not only provide our plant operators with real-time insights into improving energy efficiency on a day-to-day basis, but will allow our regional engineering and operations teams to optimize future investments while meeting our sustainability goals. At Ball, we recognize that climate change and increased demand for water resources may impact limits at various plants and to improve our ability to partially recycle wastewater. the availability of water in the future. Last year, In addition, Ball is partnering with the Colorado we conducted in-depth, long-term hydrogeologic School of Mines on testing a new membrane analyses on the availability of water resources for biological reactor system in one of our plants. This several manufacturing plants in the southwestern can be used to clean up and reuse wastewater from United States. These studies will inform our strategy rinsers. While the rinsing stage is one of the most In 2021 we also began exploring the potential for for mitigating future water risk and optimizing water-intensive stages in can manufacturing, it also electrification of ovens used in our can making investment in water recycling and reuse technology. presents the best opportunity to incorporate reused process that traditionally use natural gas – including or recycled water. 25 BALL CORPORATION MATERIAL HEALTH Identifying and eliminating any materials of concern that touch our products during manufacturing ensures that Ball is meeting end-consumer, customer and retailer expectations. By working proactively with our suppliers and improving the material health of our products, we keep consumers safe and mitigate risks by staying ahead of regulatory requirements. and they have articulated how this will protect 63% of internal coatings, and 4% of external our customer’s businesses and enhance the coatings, had received a Material Health Certificate. sustainability credentials of their product 61% of the products that were certified by the portfolio. Customers also need to test and end of 2021 achieved silver level or better. The qualify cans with the new coatings. next generation internal coating, which we are CRADLE TO CRADLE MATERIAL HEALTH CERTIFICATION As part of our broader vision to create more transparency and confidence in the aluminum beverage can, we are seeking Cradle to Cradle using to replace coatings with intentionally added BPA, achieves Cradle to Cradle Material Health certification at the platinum level. We are aiming for 100% of supplied coatings, inks and compounds to achieve certification at silver level or better by the Material Health certification for all of the coatings, end of 2030. As part of our commitment to material health, we inks and compounds we use. This certification, In February 2022, the Ball Aluminum Cup received remain focused on our global supply of coatings. which is an independent, credible way of assessing bronze level certification from the Cradle to Historically, these coatings have included trace and verifying a company’s work towards safer Cradle Products Innovation Institute, which amounts of bisphenol A (BPA). Acting in response product chemistry, requires product ingredients verifies the safety, circularity and responsibility to stakeholder feedback, we collaborated with our to be inventoried throughout the supply chain, of our product . As part of this certification, suppliers to introduce a new generation of coatings while also being evaluated for impacts on human the cup and our cup manufacturing plant in that contain no intentionally added BPA – so called and environmental health. Once evaluated by an Rome, Georgia, were assessed against five BPA-NI coatings. By the end of 2021, we had a accredited assessment body and approved categories including: material health, significant portion of our business, especially in by the Cradle to Cradle Products Europe and North and Central America, converted Innovation Institute, a product can be to these new coatings, and we aim to phase out assigned a Material Health Certificate the original coating entirely from our beverage can at an achievement level of basic, production worldwide by the middle of the decade. bronze, silver, gold or platinum. This journey requires ongoing collaboration with By the end of 2021, 100% of the our customers. Our teams have communicated compounds we used around the world, the importance of converting to new coatings along with 86% of our ink systems, 26 product circularity, clean air and climate protection, water and soil stewardship, and social fairness. Per our 2030 Sustainability Goals, we aim to achieve a gold rating in the next certification cycle. HEALTH, SAFETY & WELL-BEING The health, safety and well-being of all employees is a top priority at Ball and an integral par t of our commitment to social sustainability. prioritize and invest in safety training for new hires, as well as successful behavior-based safety programs, machine guarding, risk assessments and other regular and ongoing trainings. We believe this focus supports a workplace culture where our people thrive and have the ability to contribute to our collective success in meaningful ways. HEALTH AND SAFETY In 2021, we deployed an environmental, health and safety management information tool across Ball’s packaging businesses. In addition to providing a common framework for our businesses and regions, this allowed for more cohesive data collection and increased transparency throughout the businesses. Safety remained a top focus as we hired new employees to support our accelerated growth, experienced Covid-19 related absences and saw an increase in employee overtime hours. Even so, globally, Ball experienced an increase in safety incidents during 2021. In response to the uptick in incidents, Ball implemented measures to further Ball continues to focus on an ambitious 2030 goal of reducing the Total Recordable Incident Rate by 25% from a 2020 baseline. EMPLOYEE WELL-BEING We understand that employees encounter hardships that extend beyond physical concerns. Therefore, we offer an Employee Assistance Program (EAP), to provide all 24,300 employees and members of their households with access to resources and counselors essential for navigating life’s changes and challenges. EAP services are confidential and are automatically provided at no cost to employees. These services include mental health counseling, resources to help prepare for unexpected natural disasters and other services such financial consultations, legal counseling and child care planning. As we look ahead, employee health, safety and well-being will remain a priority and an important and foundational component to our culture and growth strategy. 27 BALL CORPORATION DIVERSITY & INCLUSION Ball’s success is a testament to our culture of belonging, which creates oppor tunities for our people to be their authentic selves and contribute to our collective success in unique and impactful ways. We welcome different perspectives and encourage robust dialogue to foster diverse and innovative thinking. Our Diversity & Inclusion function, which reports directly to the CEO, and our 17 employee- led Network and Interest groups champion our inclusive workplace culture. planned for short-term timeframes since we are committed to refining them as we make ongoing progress. DenverPride Network Celebration For people leaders, we created guidelines for inclusive recruiting and developed leadership expectations. During 2021, we re-examined our coaching and training programs, and adopted best practices for removing unconscious bias from our internal processes. We also included global diversity and inclusion managers on the planning teams that led our performance management training programs. Additionally, many of our employees have participated in unconscious bias AfricanDiasporaBall NetworkRecruiting NewMembers Our long-term ambition is to increase the and inclusivity trainings during the past six years. representation of underrepresented groups in our workforce, and to provide all employees with equal opportunities for career development. Ultimately, these actions will allow us to meet the demands of the future by ensuring we have diverse talent capable of innovative, solutions-oriented thinking. All of our business and regional teams are working toward 2025 diversity and inclusion goals focused on female and ethnic minority (non-white) employee representation, with emphasis on plant production and leadership roles. These goals are intentionally To complement these efforts, we launched our global ‘Ball For All’ storytelling campaign, which of choice for the LGBTQ+ workforce, according to fosters empathy and understanding by giving our the Human Rights Campaign’s annual Corporate people a platform to share their personal stories Equality Index. Finally, to support our commitment and experiences with others. Other notable mentions include the establishment of an Aerospace Diversity Equity Inclusion strategic council, which has a goal of diversifying our aerospace workforce. In North America, Ball was to greater transparency and accountability, we published consolidated Equal Employment Opportunity Component 1 (EEO-1) reports for our U.S. workforce as a way to showcase the evolving diversity of our workplaces . again designated one of the “Best Places to Work For further information on D&I, check out this link . for LGBTQ+ Equality” and labeled as an employer 28 TALENT DEVELOPMENT In response to long-term growth plans and attrition largely due to retirements, we continued to hire new employees globally during 2021. Drive for 10 People and Culture focus. Investing in these assessments at the manager level helps us elevate the development of our people leaders and strengthen our succession plans. A skilled workforce is critically important to the success of our business and we pay great attention to the selection, development, retention and engagement of employees in conjunction with our commitment to providing opportunities for growth. In 2021, we expanded our engineering and operations leadership development programs to be fully global, enabling earlier in career talent to become industry leaders. Through on-the- job projects and mentoring, students and recent graduates receive real-life work training and Employee development plays a crucial role in experience that expose them to Ball’s business and achieving our commitment to greater workforce potential career opportunities. Structured to also diversity, and in creating a more inclusive increase intake of diverse candidates, this program environment (see page 28). Ball supports the plays a key role in strengthening our talent pipeline. development of leaders in a variety of ways, To date, we have more than 50 individuals globally including in-role training, assessments, learning who have participated. programs and coaching. We issued monthly Leadership Spotlight communications and hosted Leader Cafes to help our people leaders grow and ultimately help their employees grow as well. During the year, to help our broader employee population deepen their skills and knowledge to grow in their careers, we introduced a variety of learning resources, including Introduction to Ball Recognizing that identifying and developing talent and Introduction to Sustainability e-learning courses, deeper in the organization will allow us to reach ongoing access to more than 17,000 LinkedIn a more diverse population and position us for Learning courses and monthly learning challenges. the future, we launched manager assessments in 2021. Because of the importance of leaders at Ball, we wanted to emphasize the concept of “cultivating the best people” as outlined in our Through our global human capital management platform, employees had the opportunity to work in partnership with their leaders to pursue individual development goals and plans. 29 BALL CORPORATION EMPLOYEE EXPERIENCE We remain committed to creating a work environment where employees are seen, heard and empowered to contribute to our collective success. content. We posted stories on Facebook, Instagram and LinkedIn showcasing the experiences of employees from different regions and businesses, all with the goal of highlighting what it means to We accomplish this by listening to our people and capturing their views in employee engagement surveys. To measure employee engagement more efficiently, in 2021 we created a new employee listening strategy. In partnership with a third-party human resources company, we advanced our efforts by creating targeted continuous listening surveys deployed throughout the year. This allows us to gather real-time feedback on employee sentiment, with a particular focus on capturing input on events happening across the world. Further information about Ball’s listening strategy can be found here: To help us with our goal of ensuring Ball’s values are fully embraced by all employees, in 2021 we adopted a fresh approach to the way new employees are welcomed into the company. Our onboarding program now includes a robust set of materials and resources such as an intranet page specifically for new hires, updated orientation materials and presentations, and new e-learning work at Ball. During September 2021, Ball celebrated its 9th annual Who We Are Month, a month dedicated to our People, Culture and Drive for 10 vision. Annually, we gather our employees from around the world to participate in various events – in person and virtually – to come together and engage with their colleagues, hear from leaders and learn about the different campaigns and innovations happening across our organization. Each week of the month, employees tuned in to a Ball Engage / Drive for 10 Talk featuring employees and leaders discussing key company initiatives such as: sustainability, diversity and inclusion, our company culture, our passion for innovation and Ball’s constant focus on our customers. At Ball, our people play an important part in crafting the employee experience and we believe that our workplaces continue to evolve as we learn and grow together. 30 COMMUNITY Ball is committed to making a positive impact in the communities where our people live and work. As an organization, and in partnership with The Ball Foundation, as well as through employee giving and volunteerism, we support organizations, programs and civic initiatives that advance sustainable livelihoods and community resilience. hand sanitizer products. More information on Ball’s Covid-19 relief efforts can be found here: Disaster relief has long been a key element of our community involvement. In 2021, devastating wildfires in our home state of Colorado destroyed more than 1,000 homes. Many Ball employees and their families were directly and indirectly impacted. In January 2022, we responded with a $1 million donation In 2021, we widened the scope of our community to the Boulder County Wildfire Fund. In efforts through the global expansion of our addition, The Ball Foundation is matching employee giving platform. As a result, our entire employee donations to the fund. employee population can now record volunteer hours and access millions of causes to support more than 200 countries. Our goal is to enable 100% of our employees to give and volunteer, leading to a 35% participation rate by 2025. We continue to increase our commitment to recycling education through strategic partnerships. In 2021, we expanded our reach through two new agreements in the United States – Inner-City Arts’ Youth With the Covid-19 pandemic impacting our Enterprisers, in which five artists came together to communities around the world, Ball continued raise awareness about the efficacy of aluminum applying its commitment of $5 million in global as a recyclable material through art, and with support through 2021. In South America, we Kroenke Sports & Entertainment to support its Green reached 50 million people through our Covid-19 Assists program. These partnerships allow us to relief efforts. In Belgrade, Serbia, we provided daily increase recycling awareness within the sports and meals to dozens of children who were experiencing entertainment space. homelessness as a result of the pandemic. In India, our team provided aerosol packaging for Learn more about our community work focused on disaster relief, recycling and STEM education here: 31 BALL CORPORATION 2021 FIVE-YEAR REVIEW OF FINANCIAL DATA BALL CORPORATION AND SUBSIDIARIES ($ in millions, except per share amounts) Net Sales Earnings before interest and taxes (EBIT) Total interest expense Earnings before taxes (a) Net earnings attributable to Ball Corporation (a) Basic earnings per share (a) 2021 2020 2019 $ 13,811 $ 1,291 (270 ) 1,008 878 2.69 $ $ $ $ $ $ $ $ 11,781 1,003 (316 ) 687 585 1.79 $ $ $ $ $ 11,474 932 (324 ) 608 566 1.71 2018 11,635 935 (302 ) 633 454 1.32 $ $ $ $ $ 2017 10,983 802 (288 ) 514 374 1.07 $ $ $ $ $ Weighted average common shares outstanding (000s) 325,989 326,260 331,102 344,796 350,269 Diluted earnings per share (a) $ 2.65 $ 1.76 $ 1.66 $ 1.29 $ 1.05 Diluted weighted average common shares outstanding (000s) Total assets Total interest bearing debt and finance lease obligations Cash dividends per share Total cash provided by operating activities (c) Selected Financial Data Comparable operating earnings (b) Comparable net earnings (b) Diluted earnings per share (comparable basis) (b) EVA dollars (d) 331,615 $ 19,714 7,779 0.70 1,760 $ $ $ $ $ $ $ $ $ 332,815 18,252 7,800 0.60 1,432 $ $ 340,121 17,360 7,817 0.55 1,548 $ $ 352,321 16,554 6,729 0.40 1,566 $ $ 356,985 17,169 6,971 0.365 1,478 1,585 $ 1,415 $ 1,331 $ 1,290 $ 1,220 1,157 3.49 290 987 2.97 271 861 2.53 217 775 2.20 242 728 2.04 240 Total annual return to common shareholders (e) 4.1 % 45.2 % 41.8 % 22.7 % 1.8 % The following footnotes are for the data provided on pages 32 and 33 (a)Includesbusinessconsolidationandotheractivitiesandotheritemsaffectingcomparabilitybetweenyears.Additionaldetailsregardingthe2021,2020,2019and2018itemsareavailableinNote6,andthe2017itemsareavailableinNote5,totheconsolidatedfinancialstatementswithinItem 8oftheAnnualReportonForm10-K.(b)Non-U.S.GAAPmeasuresshouldnotbeconsideredinisolationandshouldnotbeconsideredsuperiorto,orasubstitutefor,financialmeasurescalculatedinaccordancewithU.S.GAAP.Furtherdiscussionofnon-U.S.GAAPfinancialmeasuresisavailable inItem7oftheAnnualReportonForm10-KunderManagementPerformanceMeasurementsandOtherLiquidityMeasuresandtheNon-GAAPMeasuressectionofBall’swebsite.(c)Amountsin2017havebeenretrospectivelyadjustedtoreflecttheadoptionofnewaccountingguidancethatwas effectiveJanuary1,2018.(d)Netoperatingearningsaftertaxlessacapitalchargeof9%after-taxonaverageinvestedcapitalemployed.(e)Changeinstockpriceplusdividendspaid,assumingreinvestmentofalldividendspaid.Informationforthiscalculationisincludedintheshareholderreturn performancechartintheProxy. 1Alldata,includingnormalizeddatabybusinessunitcanbefoundonline,withadescriptionofBall’snormalizationapproachatwww.ball.com/sustainability/sustainability-reporting.2Naturalgas,gasoline,propane,diesel,biogas,jetfuel3Electricity,steam4RenewableenergyfallswithinIndirect energy.5DirectGHGemissionsfromsourcesownedorcontrolledbyBallprimarilyfromnaturalgas,propaneandfugitiveemissionsfromcoatingsusedonsite6IndirectGHGemissionsfromthegenerationofelectricityandsteamgeneratedoffsiteandpurchasedbyBall.TheScope2emissions reportedherearemarket-based,ourScope2location-basedemissionscanbefoundonline7IndirectGHGemissionsfromvaluechainsourcesnotownedordirectlycontrolledbyBall.IndirectGHGemissioncategoriesincludethefollowing:PurchasedGoods&Services,CapitalGoods,Fuel-& Energy-RelatedActivities,UpstreamTransportation&Distribution,WasteGeneration,BusinessTravel,EmployeeCommuting,DownstreamTransportation&Distribution,ProcessingofSoldProducts,andInvestments.8CO2emissionsfrombiogenicsourcesareaccountedforasaseparateGHG inventory,notincludedinScope1,2,or3.9Metalmanufacturingscrapnotincluded,allofwhichissentbacktooursuppliersandremelted.10Numbershavebeenrounded.11Withourglobaldiversityandinclusioneffortsfurthermaturing,weexpecttoreportotherD&Imetricsthangenderandage inthefuture.12Notdisclosedemployeeschosenottoidentifyasmaleorfemale.13Includedin“Employeeturnover”arevoluntarydeparturesandthoseduetodismissal,retirementandpassingofBallemployees,excludingconsultants,contingentandtemporaryworkers.Balltransitionedtoanew globalHRsystemin2021,whichallowsidentificationofBallemployeesseparatefromconsultants,contingentandtemporaryworkers.Therefore,previousyear’sturnoverdataarenotincluded. 32 2021 SELECTED FIVE-YEAR REVIEW OF ENVIRONMENTAL AND SOCIAL DATA ENVIRONMENTAL DATA1 Energy consumption - Direct energy2 - Indirect energy3 Renewable energy4 Greenhouse gas emissions (Scope 1+2) - Scope 15 - Scope 26 - Scope 37 - Biogenic8 Water consumption Waste generation9 - Recycled/reused - Landfill - Other treatment UNIT 2021 2020 2019 2018 MWh in thousands metric tons CO2e 4,871 ✓ 2,304 ✓ 2,567 ✓ 1,101 ✓ 4,483 2,170 2,313 470 4,324 2,096 2,228 95 911,576 ✓ 1,096,338 1,210,690 466,784 ✓ 444,792 ✓ 440,179 656,159 425,090 785,600 4,213 2,050 2,163 80 1,167,981 414,505 753,476 2017 4,065 1,967 2,163 69 1,198,980 396,296 802,684 metric tons CO2 5,043 ✓ 5,547 5,277 5,361 - 11,876,976 ✓ 10,004,568 9,149,160 8,860,065 8,771,648 m3 10,291,887 ✓ 9,580,889 9,247,420 9,067,068 8,963,702 metric tons in thousands 86,110 52,385 5,268 28,457 9,091 82,677 49,779 5,435 27,463 8,845 67,173 40,176 6,286 20,711 8,608 60,223 38,310 7,618 14,295 8,528 60,455 37,792 7,835 14,828 7,794 VOC emissions metric tons SOCIAL DATA Employees (year-end) 10,11 - Male - Female - Not disclosed12 - <30 - 30-50 - >50 Employee turnover13 - Voluntary turnover UNIT # % of total workforce % of total workforce % of total workforce Total recordable incident rate recordable incidents/200,000 hours worked Severity rate lost work days/200,000 hours worked Work-related fatalities # 2021 2020 2019 2018 2017 24,300 21,500 18,300 17,500 18,300 74 % 18 % 8 % 16 % 59 % 25 % 12.5 % 9.3 % 1.01 11.10 0 83 % 17 % 0 % 16 % 59 % 25 % - - 0.77 9.81 0 80 % 17 % 3 % 20 % 55 % 25 % - - 0.90 9.68 0 83 % 17 % 0 % 17 % 58 % 25 % - - 0.88 5.54 0 84 % 16 % 0 % 15 % 57 % 28 % - - 1.00 9.63 0 ✓ This metric is part of Management’s Assertion on sustainability metrics, which PricewaterhouseCoopers LLP has performed limited assurance over for the year ended December 31, 2021, as indicated in the Report of Independent Accountants. 33 BALL CORPORATION BOARD OF DIRECTORS JOHN A. BRYANT Former Chairman and CEO of Kellogg Company 1,4 MICHAEL J. CAVE Former Senior Vice President of The Boeing Company 1,2 DANIEL W. FISHER President and CEO-elect of Ball Corporation JOHN A. HAYES Chairman and CEO of Ball Corporation DANIEL J. HEINRICH Former Executive Vice President and CFO of The Clorox Company 1,3 DUNE E. IVES Chief Executive Officer Lonely Whale PEDRO HENRIQUE MARIANI Chairman of the Board of Bancom BBM 2 GEORGIA R. NELSON Former President and CEO of PTI Resources, LLC 3,4 CYNTHIA A. NIEKAMP Former Senior Vice President of PPG Industries, Inc. 2,3 TODD A. PENEGOR President and CEO of The Wendy’s Company 1,4 CATHY D. ROSS Former Executive Vice President and CFO of FedEx Express 1,4 BETTY J. SAPP Former Director of the National Reconnaissance Office (NRO) 2,3 STUART A. TAYLOR II CEO of The Taylor Group, LLC 3,4,*** 34 COMMITTEES 1 Audit 2 Finance 3 Human Resources 4 Nominating/Corporate Governance *** Lead Independent Director GOVERNANCE & MANAGEMENT CHARLES E. BAKER Vice President, General Counsel and Corporate Secretary JAY BILLINGS Vice President and General Manager, Aerosol Packaging NATE C. CAREY Vice President and Controller CAREY S. CAUSEY President, Beverage Packaging EMEA DANIEL W. FISHER* President and CEO-elect, Ball Corporation JOHN A. HAYES** Chairman and CEO, Ball Corporation CHARLES JOHNSON Vice President, Diversity and Inclusion DAVID A. KAUFMAN Senior Vice President and President, Ball Aerospace JEFFREY A. KNOBEL Vice President and Treasurer RONALD J. LEWIS Senior Vice President and COO, Global Beverage Packaging SCOTT C. MORRISON Executive Vice President and CFO STACEY V. PANAYIOTOU Senior Vice President and CHRO CARLOS PIRES President, Beverage Packaging South America KATHLEEN PITRE President, Beverage Packaging North and Central America DANIEL J. RABBITT Vice President, Corporate Planning and Development COURTNEY K. REYNOLDS Vice President, Communications and Corporate Affairs DENNIS SCHUILENBURG Chief Global Commercial and Sustainability Officer * On January 26, 2022, Mr. Fisher was elected Chief Executive Officer effective April 27, 2022 ** Mr. Hayes will transition solely to Chairman of the Board effective April 27, 2022 QUARTERLY RESULTS, COMPANY INFORMATION & INVESTOR RELATIONS Quarterly financial information and company news are posted on www.ball.com/investors. For investor relations call (303) 460-3537. PURCHASE PLAN A dividend reinvestment and voluntary stock purchase plan for Ball Corporation shareholders permits purchase brokerage commission. Participants in this plan may have cash dividends on their shares automatically reinvested and, if they choose, invest by making optional cash payments. Additional information on the plan is available by writing Computershare, Dividend Reinvestment Service, P.O. Box 505000, Louisville, KY 40233-5000. The toll-free number is (800) 446-2617, and the website is www.computershare.com/investor. You can access 2021 High Low 2020 High Low 2021 SHAREHOLDER INFORMATION QUARTERLY STOCK PRICES AND DIVIDENDS Closing quarterly stock prices for the company’s common stock and quarterly dividends in 2021 and 2020 were: 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter $ 98.09 $ 77.95 $ 0.20 $ 94.29 $ 78.69 $ 0.15 $ 93.00 $ 80.74 $ 0.15 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter Dividends per share $ 0.15 $ 84.67 $ 69.47 $ 0.15 $ 75.40 $ 61.17 $ 0.15 $ 78.56 $ 51.94 $ 0.15 $ 97.67 $ 86.82 $ 97.91 $ 82.60 of the company’s common stock without payment of a Dividends per share $ 0.20 your Ball Corporation common stock account information *High and low stock price represent the highest and lowest daily closing price for the quarter on the Internet 24 hours a day, 7 days a week through Computershare’s website. If you need assistance, please call Computershare at (800) 446-2617 between 8 a.m. and 5 p.m. Eastern time. ANNUAL REPORT ON FORM 10-K The Annual Report on Form 10-K for 2021 filed by the CERTIFICATIONS The company has filed with the New York Stock Exchange company with the United States Securities and Exchange the chief executive officer’s annual certification regarding VIRTUAL ANNUAL MEETING The annual meeting of Ball Corporation shareholders will be held to tabulate the votes cast and to report the results of voting on the matters listed in the proxy Commission is enclosed. TRANSFER AGENT & REGISTRAR Computershare statement sent to all shareholders. No other business P.O. Box 505000 and no presentations are planned. The virtual meeting Louisville, KY 40233-5000 to report voting results will be held on Wednesday, April 27, 2022, at 7:30 a.m. Mountain time. compliance with the NYSE’s corporate governance listing standards. The company also has filed with the United States Securities and Exchange Commission all required certifications by its chief executive officer and its chief financial officer regarding the quality of the company’s public disclosures. EQUAL OPPORTUNITY Ball Corporation is an equal opportunity employer. CORPORATE GOVERNANCE Uncompromising integrity is one of Ball’s core values and we are proud of our culture of ethical behavior and strong corporate governance practices. We are committed to high levels of accountability and transparency and have established a corporate governance structure and associated policies and procedures to achieve business success. Eleven of thirteen directors on our Board are independent, including all members of the Board’s four committees (Audit, Finance, Human Resources and Nominating/Corporate Governance). These committees assist the Board in discharging its duties and operate under written charters, each of which is available on our website. In January of 2022, after careful deliberation, the Board determined that it is in the best interests of Ball and its stakeholders to declassify our Board and to permit shareholders to amend our bylaws. These two items are included as proposals in the 2022 Proxy Statement. Additional information about our corporate governance including our Business Ethics Code of Conduct, the Ball Corporation Executive Officers and Directors Business Ethics Statement, the Directors Business Ethics Statement and our Bylaws may also be viewed on our website. 35 BALL CORPORATION ABOUT OUR REPORTING This is Ball Corporation’s first combined report, covering calendar year 2021. Since 1972 Ball Corporation has been publishing an annual report, providing our stakeholders with an overview of our business and how it performed financially during the previous calendar year. Since 2008, Ball has also been publishing a biennial sustainability report, sharing how we manage key sustainability topics, our performance in prior years, and our future goals. As sustainability became even more deeply embedded through our organization and a fundamental part of our business strategy, we felt a combined report would best reflect our integration of sustainability into all aspects of our business and to provide our stakeholders with a comprehensive business, environmental, social and governance (ESG) update. This new report complements our financial filings and its primary audiences are shareholders, investors, customers, employees, suppliers and civil society. Unless otherwise stated, we are reporting sustainability metrics globally, covering facilities where Ball has operational control, which includes owned manufacturing facilities, major administrative offices, warehouses, and research and development facilities. Operations that are outside of these criteria, such as joint venture locations where Ball does not have control and full authority to introduce and implement its operating policies, are not included. References such as “currently,” “so far” or similar expressions reflect information as of Dec. 31, 2021. Some achievements from early 2022 are included in the report to provide the most relevant information to stakeholders. Further details on reporting principles, boundaries and data normalization are available on our website. Limited assurance over select 2021 sustainability metrics was obtained from PricewaterhouseCoopers LLP. The Report of Independent Accountants and management assertion are available online. At times, we may revisit our historical sustainability performance data to ensure their accuracy. Due to improved data availability and accuracy, Ball has revised the calculation of historic VOC emissions (metric tons) for the following years: 2017, 2018, 2019, and 2020. Some information in this report is dependent on data that has been provided by third parties that are outside of our control. To the extent possible, we determined such information was gathered and reported accurately, and that the underlying assumptions and methodologies are sound. This report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards: Core option. A detailed GRI Content Index can be found online . Our processes to identify, assess, manage and oversee sustainability-related risks and opportunities reflect an intent to further align our reporting with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and the standards put forth by the Sustainability Accounting Standards Board (SASB). In an effort to further strengthen our sustainability initiatives and to increase transparency, Ball’s Board of Directors approved joining the UN Global Compact and we look forward to sharing our annual communication on progress starting in 2023. 36 EXTERNAL ASSESSMENTS Ball’s sustainability management and performance have again been recognized by external experts. FORWARD LOOKING STATEMENT This report contains “forward-looking” statements concerning future events and financial performance. Words such as “expects,” “anticipates,” “estimates,” “believes,” and similar expressions typically identify forward-looking statements, which are generally any statements other than statements of historical fact. Such statements are based on current expectations or views of the future and are subject to risks and uncertainties, which could cause actual results or events to differ materially from those expressed or implied. You should therefore not place undue reliance upon any forward-looking statements and they should be read in conjunction with, and qualified in their entirety by, the cautionary statements referenced below. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Key factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in our Form 10-K, which are available on our website and at www.sec.gov. Additional factors that might affect: a) our packaging segments including product capacity, supply, and demand constraints and fluctuations and changes in consumption patterns; availability/cost of raw materials, equipment, and logistics; competitive packaging, pricing and substitution; changes in climate and weather; footprint adjustments and other manufacturing changes, including the startup of new facilities and lines; failure to achieve synergies, productivity improvements or cost reductions; unfavorable mandatory deposit or packaging laws; customer and supplier consolidation; power and supply chain interruptions; changes in major customer or supplier contracts or loss of a major customer or supplier; inability to pass through increased costs; political instability and sanctions; currency controls; changes in currency exchange or non-U.S. tax rates; and tariffs, trade actions, or other governmental actions, including business restrictions and shelter-in-place orders in any country or jurisdiction affecting goods produced by us or in our supply chain, including imported raw materials; b) our aerospace segment including funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; c) the company as a whole including those listed above plus: the extent to which sustainability-related opportunities arise and can be capitalized upon; changes in senior management, succession, and the ability to attract and retain skilled labor; regulatory actions or issues including those related to tax, ESG reporting, competition, environmental, health and workplace safety, including U.S. FDA and other actions or public concerns affecting products filled in our containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; the ability to manage cyber threats; litigation; strikes; disease; pandemic; labor cost changes; inflation; rates of return on assets of the company’s defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies, including policies, orders, and actions related to Covid-19; reduced cash flow; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, and their effects on our operating results and business generally. This Summary Annual Report should be read in conjunction with the audited consolidated financial statements and other information contained in Ball Corporation’s Annual Report on Form 10-K for 2021, which is being furnished with the company’s Proxy Statement for the 2022 Annual Meeting of Shareholders. Copyright© Ball Corporation 2022. Ball and are trademarks of Ball Corporation Reg. U.S. Pat. & Tm. Office. We intend to change the company’s ticker symbol from BLL to BALL immediately following our annual shareholders’ meeting in April 2022. A public press release will be issued 10 days prior to the actual change date. B A L L C O R P O R AT I O N B A L L C O R P O R A T O N I 2 0 2 1 C o m b i n e d R e p o r t B u s i n e s s & S u s t a i n a b i l i t y U p d a t e 9200 West 108th Circle Westminster, CO 80021 USA www.ball.com BALL CORPORATION COMBINED REPORT 2021 Business & Sustainability Update