Acquisition

13 February 2014

Rexam PLC, a leading global beverage can maker, announces that it has signed an agreement to acquire a 51% stake in beverage can maker United Arab Can Manufacturing Limited (UAC) for US$122m. The transaction is subject to regulatory approvals and is expected to complete in Q3 2014.

UAC makes beverage cans and can ends and is situated in Dammam, Saudi Arabia. The plant has an annual capacity of 1.8bn cans in both standard and specialty sizes. In 2012, the company generated EBITDA of c $29m.

Current shareholders of UAC comprise Olayan Financing Company, Aujan Industries Co. LLC, The Coca-Cola Bottling Company of Saudi Arabia and Al-Jabr Trading Company. All will continue to be shareholders in the company, which is to be renamed Rexam UAC, following the transaction.

Graham Chipchase, Rexam's Chief Executive said:

"We have spoken for some time about the opportunities in emerging markets and I am delighted that we are seeing our strategy bear fruit with the acquisition of a controlling stake in United Arab Can.

UAC is a modern business with respected partners, well established customer relationships, a strong competitive position in an attractive market with good returns. While the plant is operating well, given our own global scale and technical expertise, we see a number of opportunities for synergies.

Growth prospects for the beverage can in the Middle East are attractive and we look forward to working together with our partners in UAC to lead further expansion in the region."

Enquiries

Investors

Sandra Moura, Head of Investor Relations, Rexam +44 20 7227 4100

Media

Jonathan Thornton, Head of Communications, Rexam +44 20 7227 4100

Katharine Wynne, Tulchan Communications +44 20 7353 4200

Martin Robinson, Tulchan Communications +44 20 7353 4200

Editors' notes:

Rexam is a global consumer packaging company. We are one of the leading global beverage can makers and a major global player in rigid plastic packaging for healthcare applications. We are business partners to some of the world's most famous and successful consumer brands. Our vision is to be the best global consumer packaging company.We have 67 manufacturing plants in 24 countries and employ around 11,000 people. Our sales from continuing operations in 2012 were in the region of £4.3 billion.Rexam is a member of the FTSE 100 and its ordinary shares are listed with the UK Listing Authority and trade on the London Stock Exchange under the symbol REX. For further information, visit www.rexam.com.