BALL Corp

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To identify our median-paid employee from our total, global workforce, we used the methodology, material assumptions, adjustments and estimates described below:

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We used annual base salary as the “consistently applied compensation measure” rather than total compensation as calculated under the Summary Compensation Table disclosure rules.

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We determined our median employee as of October 31, 2024.

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As of our October 31 determination date, our total, global workforce was 15,801 employees,

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consisting of 4,622 U.S. employees and 11,179 non-U.S. employees.

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All non-U.S. employees’ pay was converted into USD using exchange rates based on our determination date.

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We excluded, under the de minimis exception to the pay ratio rule, all employees in Paraguay (303), Myanmar (104), Turkey (138), and Egypt (192), or 737 employees out of a total of 15,801 employees.

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PAY VERSUS PERFORMANCE

The following table identifies the three most important financial performance measures used to link the compensation paid to our CEO and other NEOs. The role of each of these performance measures is discussed in detail in the CD&A section.

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(1)

In the table above, PEO refers to “Principle Executive Officer”. Mr. Fisher succeeded Mr. John A. Hayes as CEO in April 2022. All references to “First PEO” in this table and footnotes relate to Mr. Hayes and all references to “Second PEO” relate to Mr. Fisher.

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(2)

The non-PEO NEOs represented in the table and footnotes are as follows:

2024—Mr. Yu, Mr. Lewis, Ms. Causey, and Ms. Lim-Johnson

2023—Mr. Yu, Mr. Morrison, Mr. Lewis, Mr. Kaufman, Ms. Valy Panayiotou, and Mr. Baker

2022—Mr. Morrison, Ms. Valy Panayiotou, Mr. Lewis, and Mr. Baker

2021—Mr. Morrison, Mr. Fisher, Mr. Lewis, and Mr. Baker

2020—Mr. Morrison, Mr. Fisher, Ms. Pauley, and Mr. Baker

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(3)

Values included for equity awards in the table have been calculated as prescribed by the SEC and the fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.

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62 | WWW.BALL.COM/INVESTORS

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(4)

The numbers previously disclosed for Ball’s TSR for 2021 and for peer group TSR for 2020-2023 have been updated. The differences relate to utilizing different providers who use different methodologies for dividend reinvestment. All TSR numbers disclosed above are now based on the same reinvestment methodology.

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(5)

Our Peer Group for TSR is the Dow Jones Containers & Packaging Index (DJCPI). The majority of Ball’s sales and earnings are generated from our global packaging business, and members of the DJCPI compete across similar markets and product categories for rigid packaging and secondary packaging. While short-term share price movements may not fully capture our progress in 2024, the foundation we are building, through growing volumes, robust cash flow, increasing EVA dollars and significant capital returns, positions us to drive sustained value for shareholders in the years ahead. Ball’s 1-year, 3-year and 5-year total shareholder returns are shown below, relative to both the DJCPI and the S&P 500.

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(6)

2024 net income included the proceeds of the sale of our Aerospace business.

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(7)

Our Company Selected Measure is EVA® as it is the lens used to measure business and strategic initiatives. There is a high correlation between our total executive compensation actually paid compared to our EVA® performance over the past three years. As mentioned under “Changes to Executive Compensation for 2025”, the company has made changes to the incentive programs for 2025 to ensure that our compensation plans are aligned to our strategy of simplifying sustainability for our customers by delivering scalable aluminum packaging solutions and to our ambition of achieving a $30 billion market capitalization by 2030. EVA® has served us well as our key incentive metric and will continue to play a role going forward. However, from 2025 we will use a broader set of incentive measures to support our new strategy.

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