BALL Corp

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No. )

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Preliminary Proxy Statement

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Definitive Proxy Statement

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Definitive Additional Materials

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Soliciting Material under §240.14a-12

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BALL CORPORATION

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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11.

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2025 HIGHLIGHTS

We are pleased to present our 2025 achievements and initiatives.

BALL CORPORATION 2026 PROXY STATEMENT| i

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LETTER TO SHAREHOLDERS

2025 was a monumental year for Ball Corporation, and I am proud to share the many accomplishments of our leadership team and the more than 16,000 employees who drive our success every day. In 2025, we focused on improving and growing our aluminum packaging business, strengthening our financial position and delivering value to our shareholders. Our business delivered exceptional financial results, including strong earnings per share growth that exceeded our long-term growth expectations. We outperformed the market by growing our global aluminum packaging shipments by 4.1% compared to 2024, achieving a record level of adjusted free cash flow, and returning $1.54 billion to shareholders. We achieved these financial results while improving our operations, deepening our customer relationships and expanding our global footprint.

I am also very proud of our Board of Directors and leadership team for successfully navigating shifts in customer demand, dynamic geopolitical conditions, the execution of key strategic initiatives and a leadership transition, positioning the Company for success in 2026 and beyond. In the second half of 2025, our Board executed a series of important steps to position Ball for the future, which include electing a new director (John Panichella), appointing a new Chief Executive Officer (Ron Lewis) and establishing an independent Board Chairman position. The addition of John to the Board is part of our ongoing Board refreshment process and a critical step in ensuring that the Board has the skills and experience needed to fulfill its governance and strategic and operational oversight duties.

The appointment of Ron as the Company’s new CEO and his successful transition into that role is a reflection of the Board’s focus on management succession and maintaining a strong leadership team. Ron is known throughout the industry as a customer-centric innovator and disciplined operator with a reputation for driving execution. His success managing and improving Ball’s manufacturing operations, and his deep knowledge of our customers and their operations allowed him to step into the CEO role and make an immediate and positive impact on our business. The Board and I remain steadfast in Ball’s future, and we believe that Ron has the right skills and experience to lead our business and execute the Board’s vision for success.

In 2025, we advanced the implementation of the Ball Business System, our operating model which is designed to drive process efficiency and strengthen our cost structure to better serve our customers. We also executed several steps to further position the Company for growth, including the addition of new manufacturing facilities in the United States, Belgium and Hungary, strengthening our financial position and liquidity through the extension of our credit facility, enhancing our partnerships with key customers and appointing a strong management team to lead the Company into the future.

We remain committed to the Company’s long-term strategy of executing against our commitments, staying close to our customers, accelerating substrate shift, and managing complexity to our advantage. Our 2025 Combined Annual and Sustainability Report highlights the measurable progress we’ve made toward achieving our 2030 goals by expanding our lightweight aluminum packaging portfolio; working to increase recycling rates around the world and improving the efficiency of our operations. Our global manufacturing network of 65 plants, along with our differentiated product portfolio, our industry-leading manufacturing processes, and our team’s commitment to executing with excellence positions us for long-term growth and will allow us to deliver innovative, low-carbon, aluminum packaging solutions that meet our customers’ needs and to deliver shareholder value.

On behalf of the Board and our entire Ball team, we thank you for your continued investment and trust as we lead the Company into an exciting chapter in our history.

ii | WWW.BALL.COM/INVESTORS

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NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

The Annual Meeting of Shareholders of Ball Corporation will be held for the following purposes:​

Shareholders of record at the close of business on February 27, 2026, are entitled to notice of and to vote at the Annual Meeting or any adjournment thereof. The following Proxy Statement contains important information about the meeting and the matters being voted upon.​

This year’s Annual Meeting will be held in a hybrid format through a live webcast and in-person at our headquarters office. Please see the Voting and Meeting Information section for details on how to attend.​

Your vote is important. Please read the accompanying proxy materials carefully. To ensure your shares are represented at the Annual Meeting, we urge you to vote your shares by completing and returning the proxy card as promptly as possible. You also may vote by telephone or over the Internet, or if you request a paper copy of the materials, by mail. Please see the voting instructions on pageiv for more details. You may revoke your proxy at any time before the final vote at the Annual Meeting. All properly completed proxies (whether by mail, telephone or Internet) will be voted at the meeting in accordance with the directions given in the proxy, unless the proxy is revoked before voting concludes.

The Notice of Annual Meeting, Proxy Statement and proxy card were first furnished and made available to shareholders on or about March 17, 2026. For more complete information, please review the entire Proxy Statement as well as our 2025 Annual Report on Form 10-K.

By Order of the Board of Directors,​

Hannah Lim-Johnson

Corporate Secretary​

Westminster, Colorado​

BALL CORPORATION 2026 PROXY STATEMENT| iii

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Shareholders of record as of February 27, 2026, desiring to submit a proxy by telephone or via the Internet will be required to enter the unique voter control number imprinted on the proxy card. You should have the proxy card available for reference when initiating this process.

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Shares held in a brokerage account or by a bank, nominee or other holder of record may need to be voted by earlier deadlines set by your service provider.

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iv | WWW.BALL.COM/INVESTORS