Interim Management Statement

13 November 2014

Rexam, the global beverage can making company, today issued its interim management statement for the period from 1 July 2014.

Results for the Group are in line with our plans and we continue to expect to make further progress for the full year on a constant currency basis. Our financial position is unchanged from that at 30 June 2014.

Overall global beverage can volumes were up 4% for the period. Volumes in Europe grew in line with the first half with an improvement in Russian volumes. There were strong performances in India and Egypt following recent investments there and the market recovered well in Turkey. In North America, standard volumes were down in line with the market while specialty volumes continued to grow driven by energy drinks. South America performed strongly although, as expected, volumes slowed towards the end of Q3 following the FIFA World Cup. We are also benefiting from our improved manufacturing footprint in Brazil which has increased our capacity in specialty cans.

Looking into 2015, we continue to expect growth in global can volumes, but the environment remains challenging. We have previously highlighted our exposure to metal premium costs and Brazilian energy inflation. Aluminium premium has increased further to $500/tonne and, if this level were to be sustained, it would represent an additional cost of some £30m for next year versus 2014. Meanwhile, Brazilian energy costs are expected to increase by £15m in 2015 as unprecedented drought has raised the cost of hydroelectric power. In terms of the trading environment, we are planning for margins on certain sizes of US specialty cans to reduce next year and, additionally, for the trend towards global procurement contracts by our customers to continue. In light of these developments, we are reviewing our cost base further and will provide an update at the full year results in February.

Graham Chipchase, Rexam's Chief Executive said:

"Overall performance has been in line with our plans. Whilst European market growth slowed somewhat in Q3, we saw a strong Nordic summer and an improvement in Russia. Looking at the rest of the world, volumes grew strongly in all three regions and we started to supply 25cl cans in India. Volumes in North America were in line with the market. South America continued to perform strongly immediately following the FIFA World Cup with solid growth in specialty cans, although we have seen some slowing more recently.

As ever, we will focus on tight cost management and the elements of our business that we know we can control.

Despite ongoing foreign exchange translation headwinds and metal premium cost at an all-time high, the business is in good shape operationally and we continue to expect to make further progress in 2014 on a constant currency basis."

Enquiries

Investors

Marion Le Bot, 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

Rexam will host a conference call for investors and analysts on Thursday 13 November at 8am (UK time).

Participants dial-in number:

UK Participant dial-in: + 44 20 3139 4830 or 0808 237 0030

US Participant dial-in: +1 718 873 9077 or +1 866 928 7517

Participant PIN Code: 26311339#

 A replay service will be available until 27 November 2014:

UK replay: +44 20 3426 2807 or 0808 237 0026

US replay: +1 866 535 8030

Replay PIN Code: 650357#

Editors' notes:

Rexam is a leading global beverage can maker. We are business partners to some of the world's most famous and successful consumer brands. Our vision is to be the best beverage can maker in the world.We have 55 can making plants in more than 20 countries and employ around 8,000 people. In 2013, our sales were £3.9 billion.Rexam's ordinary shares are listed with the UK Listing Authority and trade on the London Stock Exchange under the symbol REX. Visit www.rexam.com for further information.