DENNIS M NELSON

s contributed by an eligible employee each pay period. An additional Plan feature provides an annual “true-up” Company contribution to ensure that participants receive the maximum Company matching contribution for which they are eligible. At the end of each year, the participant’s maximum Company matching contribution is calculated using the participant’s annualized average contribution percentage. If the participant’s actual Company matching contribution received during the year is less than the participant’s maximum Company matching contribution, then the difference is deposited as a lump sum into the eligible participant’s account as soon as administratively feasible following the Plan year-end. The Company can elect to contribute to the Plan in Company stock or cash. Both cash and stoc

ligible employees are permitted to contribute eligible rollover distributions into the Plan. Vesting and Forfeitures Participant contributions and earnings thereon are immediately fully vested. Company contributions and earnings thereon are fully vested after two years of service. Company contributions also vest upon a participant’s death or 65 th birthday, or if the Plan is terminated or discontinued, provided in each case that the participant is an employee at the time. In addition, participants who die while performing qualified military service become fully vested in their Company contributions and earnings thereon. If a participant’s employment terminates prior to vesting, all Company contributions and earnings thereon are forfeited, and may be used to pay administrative expenses of t

ions are invested in accordance with participant elections on file. In 2025, all Company contributions were made in Company stock. Participant Contributions Eligible employees are automatically enrolled in the Plan with a pretax contribution rate of 7 % after 30 days of employment, unless the employee affirmatively elects not to participate. Participants direct the investment of their contributions into investment options offered under the Plan. If a participant does not make an investment election, their contributions are invested in the Plan's applicable qualified default investment alternative. Participants can contribute any whole percentage (up to 100 % less payroll deductions) of their eligible compensation as pretax and Roth contributions combined and from 1 % to 25 % of their eligi

ibutions 60.2 Employer contributions 33.4 Participant rollover contributions 5.2 Total contributions 98.8 Total additions 281.9 Deductions: Benefits paid to participants ( 147.8 ) Administrative expenses ( .9 ) Total deductions ( 148.7 ) Net increase in net assets available for benefits 133.2 Net assets available for benefits: Beginning of year 1,363.6 End of year $ 1,496.8 See Notes to Financial Statements 3 Table of Contents AVERY DENNISON CORPORATION EMPLOYEE SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS 1. Summary Description of the Plan The following description of the Avery Dennison Corporation Employee Savings Plan (the “Plan”) is provided for financial reporting purposes only. For information regarding the terms and conditions of the Plan for benefit purposes, participants should refe