Glendale, Calif. – Avery Dennison Corporation announced today that it has priced an underwritten public offering of $300 million aggregate principal amount of 0.850% Senior Notes due 2024 and $500 million aggregate principal amount of 2.250% Senior Notes due 2032. The Senior Notes due 2024 were priced at 99.991% of their principal amount and the Senior Notes due 2032 were priced at 99.592% of their principal amount. The offering is expected to close on August 18, 2021, subject to customary closing conditions.

Avery Dennison intends to use the net proceeds from the offering, together with cash on hand and credit facility and/or commercial paper borrowings, to finance a portion of the previously-announced acquisition of Vestcom or for other general corporate purposes.

The joint book-running managers for this offering are Goldman Sachs & Co. LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, with HSBC Securities (USA) Inc., Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., Standard Chartered Bank and Loop Capital Markets LLC as co-managers.

The offering is being made pursuant to an effective registration statement (containing a prospectus) that has been filed with the SEC. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. A copy of the preliminary prospectus supplement and accompanying prospectus may also be obtained by calling Goldman Sachs & Co. LLC at toll-free at (866) 471-2526, BofA Securities, Inc. toll-free at (800) 294-1322, Citigroup Global Markets Inc. toll-free at (800) 831-9146 or J.P. Morgan Securities LLC collect at (212) 834-4533.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.