Greif Inc. · NYSE:GEF
Greif — Investor Day (December 2024)
106 slides from Greif's investor day presentation, Dec 11, 2024
Slide 1: 2024 Investor Day
2024 Investor Day DECEMBER 11 Convene | NYC ® ® 1
Slide 2: Welcome and Opening Remarks
Welcome and Opening Remarks Bill D’Onofrio Corporate Development & Investor Relations ® 2024 INVESTOR DAY | 2
Slide 3: Safe Harbor and Safety Briefing
Safe Harbor and Safety Briefing FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. The words “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “aspiration,” “objective,” “pro
Slide 4: Welcome to Greif Investor Day 2024: Accelerating our Build to Last Strategy
Welcome to Greif Investor Day 2024 Accelerating our Build to Last Strategy ® 2024 INVESTOR DAY | 4
Slide 5: Accelerating Our Build to Last Strategy
Accelerating Our Build to Last Strategy Ole Rosgaard President & Chief Executive Officer ® 2024 INVESTOR DAY | 5
Slide 6: Why Invest in Greif
Why Invest in Greif 1 Global Leader in Essential Industries ▪ Highly scalable global franchise ▪ World-renowned brand and high product quality ▪ Postured to capture incremental product share 2 Positioned to Deliver Stronger Earnings Power ▪ Ongoing mix shift to higher growth and less cyclical busine
Slide 7: Today's Agenda
Today’s Agenda 8:30 am Ole Rosgaard Paddy Mullaney Tim Bergwall President & Chief Executive Officer Chief Business Unit Officer Chief Commercial Officer Accelerating Driving Growth Elevating Our Build to Last Across Our Strategic Global Commercial Strategy Business Units Excellence 9:40 am Q&A Sessi
Slide 8: Authentic Team of Servant Leaders with Deep Industry Experience
Authentic Team of Servant Leaders with Deep Industry Experience Ole Rosgaard Larry Hilsheimer Gary Martz Bala Sathyanarayanan Tina Schoner President & Chief Executive Officer Chief Financial Officer General Counsel & Secretary Chief Human Resources Officer Chief Supply Chain Officer Joined: 2015 201
Slide 9: Engaged, Experienced and Diverse Board of Directors
Engaged, Experienced and Diverse Board of Directors Board Skills Bruce Edwards Karen Morrison ✓ Manufacturing / Supply Chain Chairman of the Board; Former CEO, DHL President, OhioHealth Foundation ✓ Leadership Supply Chain, Inc. Deutsche Post AG and SVP, OhioHealth ✓ Governance / Board Service Mark
Slide 10: Key Messages
Key Messages ACCELERATING OUR BUILD TO LAST STRATEGY 1 Leading the packaging industry with a people-first and customer-driven approach 2 Capitalizing on an optimized business model to ignite the next phase of growth and profit expansion 3 Strengthening our competitive position to capture additional
Slide 11: Greif at a Glance
Greif at a Glance (NYSE: GEF) $694M / 12.7% 147 14k+ 250+ 40 Adj. EBITDA and Margin Years in Operation Colleagues Facilities Countries Customized Polymer Solutions Durable Metal Solutions Material Solutions Polymers Metals Fiber $5.4B Integrated Sales Geographies Sustainable Fiber Solutions Integrat
Slide 12: Our Strategy is Driven by Our Purpose, Vision and Principles
Our Strategy is Driven by Our Purpose, Vision and Principles Build to Last Strategic Missions CREATING THRIVING COMMUNITIES DELIVERING LEGENDARY OUR PURPOSE OUR VISION OUR PRINCIPLES CUSTOMER SERVICE Creating packaging Being the best People Focused solutions for life’s customer service Zero Harm PRO
Slide 13: Recognized as a Sustainability and Workplace Leader
Recognized as a Sustainability and Workplace Leader 2x Honoree 4x Honoree 6x Honoree New Distinction 94th Percentile Engagement Results Recognized as a Top Employer and Valued Contributor to the Communities Where We Live and Work ® 2024 INVESTOR DAY | 13
Slide 14: Serving a Broad and Engaged Customer Base
Serving a Broad and Engaged Customer Base 20,000+ 19.6% 3.2% 70 Total Customers Revenue from Revenue from World Class Served in FY24 Top 20 Customers Top Customer Net Promoter Score Diversified Customer 15% Select Customers Other Consumer Uses Base Across a Range of Industries 10% 20% Petrochemical
Slide 15: Strong Foundation of Historical Financial Performance with Compelling Outlook
Strong Foundation of Historical Financial Performance with Compelling Outlook Adjusted EBITDA and Adjusted Free Cash Flow and Margin Growth Conversion Growth 2027 Financial Targets $2,800 17.0% $1,400 60.0% $2,500 $2,430 16.0% $1,200 $1,178 $1.0B+ $500M+ 55.0% Adj. EBITDA Adj. Free Cash Flow Adjuste
Slide 16: Continuing to Execute Our Transformation Journey
Continuing to Execute Our Transformation Journey A NEW ERA OF CUSTOMER BUILDING FOR THE FUTURE, DOUBLING DOWN FOCUS AND VALUE CREATION DELIVERING TODAY ON GROWTH 2015 – 2021 2022 – 2024 2025+ ▪ Re-shaped our portfolio exiting $1 billion ▪ Unified global operations into a single ▪ Optimizing and shap
Slide 17: Proactively Shifting our Product Mix
Proactively Shifting our Product Mix Targeting High Growth End Markets Last Investor Day Food & 2015 2022 2024 2025+ Beverage Pharma & Medical Adj. EBITDA by: Material Flavors & Solution Fragrances ▪ Polymers ▪ Metals ▪ Fiber ▪ Integrated Agrochemicals Positioning for the Next Era of Growth and Prof
Slide 18: Optimizing Cost Base to Accelerate Margin Expansion
Optimizing Cost Base to Accelerate Margin Expansion MULTIPLE LEVERS TO ENHANCE OPERATING LEVERAGE SG&A Network Operating Rationalization Optimization Efficiency Gains $100M Target Savings by 2027 Strengthening Shareholder Value Creation through Disciplined Cost Management ® 2024 INVESTOR DAY | 18
Slide 19: Optimized Business Model Accelerates Ongoing Value Creation for All Stakeholders
Optimized Business Model Accelerates Ongoing Value Creation for All Stakeholders Paddy Mullaney Tim Bergwall Kimberly Kellermann Introducing Chief Business Unit Officer Chief Commercial Officer Chief Operations Officer Global Leaders Optimizing and Driving business growth Advancing GBS 2.0, in New K
Slide 20: Our Sustainable Competitive Advantages
Our Sustainable Competitive Advantages Extensive Commitment Robust scale portfolio of to sustainable and global solutions to meet and circular REPLACE network our customers’ packaging of facilities needs solutions World-class Deep subject culture delivering matter expertise legendary and tailored cu
Slide 21: Consistent Competitive Positioning Enables Our Path to Success
Consistent Competitive Positioning Enables Our Path to Success Customer COMPETITVE OUR MARKET Service Leader LANDSCAPE POSITION ▪ Market for packaging solutions ▪ Leadership position in chosen generally consolidated in large- geographies and end use markets, form packaging solutions and with a local
Slide 22: Well-Positioned for Total Addressable Market Expansion Supported by Global Megatrends
Well-Positioned for Total Addressable Market (TAM) Expansion Supported by Global Megatrends Greif Target 5-Year End Markets Industry CAGR Greif Total Food & Capitalizing on Growth-Focused Specific Market ~3% Material Solutions TAM TAM Beverage Growth from Key Global Megatrends Small Plastic Containe
Slide 23: Programmatic and Disciplined M&A Strategy
Programmatic and Disciplined M&A Strategy Deep Acquisition Pipeline Executed on Since 2022 ▪ Programmatic M&A sourcing, execution and integration playbook established and validated Opportunities 250 Reviewed ▪ Greif as an acquirer of choice based on our strong culture Acquisitions 5 Completed ▪ Opti
Slide 24: Operational Excellence is Core to Our Culture
Operational Excellence is Core to Our Culture GBS 2.0 creates a competitive advantage MARKET EXCELLENCE ▪ Enhances our continuous improvement culture EXECUTION EXCELLENCE ▪ Optimizes global shared resources OPERATIONAL EXCELLENCE ▪ Defines and deploys global best CAPITAL EXPENDITURE & practices ENGI
Slide 25: Circular Company with a Rich Sustainability History Embedded in Our DNA
Circular Company with a Rich Sustainability History Embedded in Our DNA DEMONSTRATED SUSTAINABILITY LEADERSHIP WITH 15 YEARS OF SUSTAINABILITY TRACKING AND REPORTING Customized Polymer Solutions Durable Metal Solutions Sustainable Fiber Solutions Integrated Solutions ▪ Recyclable materials ▪ Recycla
Slide 26: Why Invest in Greif
Why Invest in Greif 1 Global Leader in Essential Industries ▪ Highly scalable global franchise ▪ World-renowned brand and high product quality ▪ Postured to capture incremental product share 2 Positioned to Deliver Stronger Earnings Power ▪ Ongoing mix shift to higher growth and less cyclical busine
Slide 27: Driving Growth Across Our Strategic Business Units
Driving Growth Across Our Strategic Business Units Paddy Mullaney Chief Business Unit Officer ® 2024 INVESTOR DAY | 27
Slide 28: Key Messages
Key Messages DRIVING GROWTH ACROSS OUR STRATEGIC BUSINESS UNITS Enhancing our ability to serve our customers, enabled by 1 deep understanding of market dynamics and customer needs Leveraging Greif's entire geographic and product 2 footprint, along with a solutions-oriented approach, to capture share
Slide 29: Optimized Business Model Enables Margin Expansion and Efficiency Gains
Optimized Business Model Enables Margin Expansion and Efficiency Gains Customized Polymer Durable Metal Sustainable Fiber Integrated Solutions Solutions Solutions Solutions Fiber Drums Small Plastics Large Steel Caps & Closures Tubes and Cores Large & Medium Medium & Small Paints, Linings Plastics S
Slide 30: Broad Scale Across Our Global Network
Broad Scale Across Our Global Network Customized Polymer Durable Metal Sustainable Fiber Integrated Solutions Solutions Solutions Solutions FY24 Sales $1.1B $1.6B $2.4B $0.3B Facilities 80+ 65+ 70+ 30+ Countries Sold To 28 36 3 9 Food & Beverage | Agrochemicals Bulk Chemicals | Specialty Chemicals C
Slide 31: Optimized Business Model Puts Greif Even Closer to Customers
Optimized Business Model Puts Greif Even Closer to Customers Unparalleled Customer Service + Streamlined Operating Model + Entrepreneurial Culture ▪ Global footprint with deep ▪ Contingency capability to ▪ Quick innovation and market insight and product mitigate risk opportunity sourcing solutions e
Slide 32: Optimized Solutions Focus Enhances Legendary Customer Service and Our Competitive Moat
Optimized Solutions Focus Enhances Legendary Customer Service and Our Competitive Moat CUSTOMER PROFILE Global Leader in Pharmaceutical and Agrochemicals Relationship began with a single contract in 2019, since that time, customer has grown to become: Top 5 >900bps Global Expanded Polymers Average G
Slide 33: Benefiting from Multiple Secular Growth Drivers
Benefiting from Multiple Secular Growth Drivers Population Food Safety and Sustainable and Nearshoring of Industrial Growth Productivity Multi-use Packaging Supply Chains Expansion Delivering Innovative Solutions to Meet Growing Need for Packaging Solutions ® 2024 INVESTOR DAY | 33
Slide 34: Focused on Growing in Attractive End Markets
Focused on Growing in Attractive End Markets Delivering Faster Growth High Growth Target Greif 5-Year Greif Targeted End Markets Specific TAM Industry CAGR Growth & Increased Profitability ▪ Conducting detailed market Food&&Beverage Food Beverage $2B ~3% ~5% research to validate actionable growth op
Slide 35: Driving Profitable Growth in High Growth Business
Driving Profitable Growth in High Growth Business CUSTOMIZED POLYMER SOLUTIONS Well-Positioned to FY2024 SALES: $1.1B Why We Win Capture Market Growth SELECT PRODUCTS ▪ Comprehensive product portfolio with a broad set of technical capabilities ▪ Target end markets benefit from solid available provid
Slide 36: Highly Technical Polymer Products in Action
Highly Technical Polymer Products in Action ® 2024 INVESTOR DAY | 36
Slide 37: Driving Operational Excellence in a Cash Generative Business
Driving Operational Excellence in a Cash Generative Business DURABLE METAL SOLUTIONS Well-Positioned to FY2024 SALES: $1.6B Why We Win Capture Market Growth SELECT PRODUCTS ▪ Deeply entrenched market position allows for cost optimization without ▪ Strong customer stickiness ensures fulfilment risk r
Slide 38: Driving Efficiencies in Highly Defensible Business
Driving Efficiencies in Highly Defensible Business SUSTAINABLE FIBER SOLUTIONS Well-Positioned to FY2024 SALES: $2.4B Why We Win Capture Market Growth SELECT PRODUCTS ▪ In CB, niche market position and best- in-class converting excellence are not ▪ Broadest product applications in easily replicable
Slide 39: Dallas Sheet Feeder Represents a Growing Competitive Advantage
Dallas Sheet Feeder Represents a Growing Competitive Advantage from our Containerboard Model State of the Art Converting Facility ▪ Expands specialty high-margin business and bulk corrugated capacity (triple wall, etc.) ▪ Increases geographic reach of sheetfeeder network into Southwestern United Sta
Slide 40: Driving Cross-Selling Opportunities in Integrated Platform
Driving Cross-Selling Opportunities in Integrated Platform INTEGRATED SOLUTIONS Well-Positioned to FY2024 SALES: $0.3B Why We Win Capture Market Growth SELECT PRODUCTS ▪ Expanding in-house accessory product capabilities reduces ▪ Integrated products provide us a combined product costs deeper underst
Slide 41: Path to Success: Milestones and Goals
Path to Success: Milestones and Goals LONG-TERM STRATEGIC TARGETS >18% Adj. EBITDA Margin Pursuing Shifting Implementing Growth in Product Mix GBS 2.0 & >50% Targeted Over Time Driving Adj. FCF Conversion Verticals Operational Efficiencies Optimized Organizational Structure Enables Success in High G
Slide 42: Key Takeaways
Key Takeaways 1 2 3 4 Enhancing our ability Leveraging Greif’s entire Proactively shifting our Pursuing disciplined to serve our customers, geographic and mix to higher growth capital allocation and enabled by deep product footprint, along end markets and higher strategic acquisitions to understandi
Slide 43: Elevating Global Commercial Excellence
Elevating Global Commercial Excellence Tim Bergwall Chief Commercial Officer ® 2024 INVESTOR DAY | 43
Slide 44: Key Messages
Key Messages ENABLING GLOBAL COMMERCIAL EXCELLENCE Building ongoing industry leadership through extensive 1 product portfolio, geographic reach, supply confidence and deep technical expertise Evolving our commercial organization to drive targeted 2 growth through a One Greif approach to go-to-market
Slide 45: Commercial Excellence Journey
Commercial Excellence Journey WHERE WE WERE RECENT ACCOMPLISHMENTS FUTURE FOCUS AREAS 2015 – 2022 2023 – 2024 2025+ ▪ Functioned like independent SBUs in ▪ Established a centralized CCO role to ▪ Multi-channel sales (Direct, multiple regional silos focus on the most attractive growth options Distrib
Slide 46: Commercial Operating System
Commercial Operating System Account Management Strategic Marketing Dedicated Sales Teams, Product Targeting Workshops Managers, Technical Sales ive Lea attract ts accou d and t n os segme nt m ta Targeting the Most Driving m d an rge on an ag t us kets em Attractive Growth Sales r m c Fo a en t Oppo
Slide 47: Listening to the Voice of Our Customers
Listening to the Voice of Our Customers 1 2 3 “My products are hazardous and “Our supply chains are complex valuable, so security of shipments and are exposed to volatile are needed” environments and potential “Our customers need us to drive supply disruptions” sustainability improvements” “Our pack
Slide 48: Strategic Go-to-Market Approach
Strategic Go-to-Market Approach Broadest Most Coverage & Consultative Comprehensive Supply Approach Portfolio Continuity Bringing Increased Focus and Rigor to Our Commercial Activities ® 2024 INVESTOR DAY | 48
Slide 49: Leading with the Most Comprehensive Portfolio
Most Comprehensive Portfolio Leading with the Most Comprehensive Portfolio CUSTOMER CUSTOMER CHALLENGES GREIF VALUE PROPOSITION Global Product Leader in ▪ Containers that prevent chemicals ▪ Most comprehensive portfolio Agrochemical Production from leaching out and prevent of barrier options Global
Slide 50: Our Broad Footprint Enables Companies to Drive Best Packaging Practices
Broadest Coverage & Supply Continuity Our Broad Footprint Enables Companies to Drive Best Packaging Practices All Over The World CUSTOMER CHALLENGE GLOBAL BEVERAGE PRODUCER ▪ Requires consistent quality and adherence to regulatory standards ▪ Needs reliable back-up supply Central Global Account Mana
Slide 51: Consultative Approach to Provide Packaging Solutions
Consultative Approach Consultative Approach to Provide Packaging Solutions CUSTOMER CUSTOMER CHALLENGE GREIF VALUE PROPOSITION Global specialty chemical Competitors export drums are Implemented a new supplier of ingredients and collapsing due to high-speed packaging solution to formulations and hot
Slide 52: Delivering World-class Service through Greif+ Rollout
Delivering World-class Service through Rollout Timeline Key Initiatives ▪ Enhancing service and elevating the customer experience through Greif+ digital platform Q3’24 Initial Rollout ▪ Providing essential, real-time visibility into order status 24/7 Customer ▪ Personalized catalogs of all products
Slide 53: Introducing
Introducing ® 2024 INVESTOR DAY | 53
Slide 54: Pursuing Unmatched Customer Service With A Growing Net Promoter Score
Pursuing Unmatched Customer Service With A Growing Net Promoter Score 70 68 67 65 61 60 57 World Class1 50 Our Net Promoter Score provides 47 47 47 solid evidence of our growing 40 40 42 competitive advantage of customer service excellence Over 4,200 customers interviewed in Wave 14 Wave 1 Wave 2 Wa
Slide 55: Key Takeaways
Key Takeaways 1 2 3 4 Building ongoing Evolving our commercial Creating exceptional Measuring our customer industry leadership organization to drive customer experiences performance to validate through extensive product targeted growth through a that provide convenience, and enhance the portfolio, g
Slide 56: Q&A Session
Q&A Session ® 56
Slide 57: Break
Break ® 57
Slide 58: GBS 2.0 in Action
GBS 2.0 in Action ® 2024 INVESTOR DAY | 58
Slide 59: Enabling Operational Excellence with GBS 2.0
Enabling Operational Excellence with GBS 2.0 Kimberly Kellermann Chief Operations Officer ® 2024 INVESTOR DAY | 59
Slide 60: Key Messages
Key Messages ENABLING OPERATIONAL EXCELLENCE WITH GBS 2.0 1 Enhancing growth trajectory with GBS 2.0 acceleration 2 Leveraging a broad set of operational capabilities to ensure we reliably supply our customers Building on our strong foundation with Lean Six Sigma 3 program, driving significant value
Slide 61: Our Operating Model: Greif Business System (GBS 2.0)
Our Operating Model: Greif Business System (GBS 2.0) Zero Market Harm Excellence Quality Execution Management Excellence Capex & Engineering Operational Excellence Excellence Leveraging GBS 2.0 to Drive Enhanced Operational and Commercial Excellence across the Organization ® 2024 INVESTOR DAY | 61
Slide 62: Our Operational Origin Story
Our Operational Origin Story WHERE WE WERE RECENT ACCOMPLISHMENTS DOUBLING DOWN ON GROWTH 2021 2022 – 2024 2025 & Beyond GBS 1.0 GBS 2.0 Launch GBS 2.0 Acceleration ▪ Implemented operational ▪ Continuing to build on our strong ▪ Continuing to elevate operational excellence to excellence playbook saf
Slide 63: Creating a Sustainable Balance in Our New Ways of Working
Creating a Sustainable Balance in Our New Ways of Working Driving Differentiation through Equal Emphasis on People, Mindset and Culture Implementing Key Tools Ongoing Focus on People, and Processes Mindset and Culture ▪ Driving top-down efficiencies through robust ▪ Creating a community of problem s
Slide 64: Optimizing Value through Lean Six Sigma
Optimizing Value through Lean Six Sigma Key Success Factors ✓ Strong buy-in and active engagement from Executing Proven Playbook to Enable Success executive leadership team ▪ Launched program in early 2023 ✓ Focus on building the capability in our ▪ Differentiated implementation approach recognizes
Slide 65: Implementing Gemba
Implementing Gemba IDENTIFYING OPPORTUNITIES FROM THE BOTTOM UP Key Benefits Early Innings in ✓ Fosters communication between Our Gemba Journey colleagues and leaders about ▪ Deployed in North America; in process what they need to do their jobs of global roll-out with expected completion most effect
Slide 66: Creating Substantial Value with Upgrade to GBS 2.0
Creating Substantial Value with Upgrade to GBS 2.0 Driving Efficiency and Zero Throughput Gains Market Harm Excellence Quality Execution Improving Our Management Excellence Acquisitions Capex & Engineering Operational Excellence Excellence Improving Customer Satisfaction Driving Enhanced Performance
Slide 67: Driving Efficiency and Throughput Gains through Productivity Improvement Initiatives
Driving Efficiency and Throughput Gains through Productivity Improvement Initiatives Background & Unique Greif Solution Example Marginal ▪ Holistic framework for assessing plants Gain Potential ▪ Same productivity ▪ Identified 3 steel plants as initial targets for productivity initiative applied to
Slide 68: Improving Our Acquisitions through a scalable integration playbook
Improving Our Acquisitions through a scalable integration playbook Background & Unique Greif Solution Example Marginal ▪ Acquired Lee Container in December 2022 Gain Potential ▪ $5M cross-selling ▪ Leveraged integration playbook to drive performance opportunities identified improvements, including i
Slide 69: Leveraging GBS 2.0 Tools to Drive Improved Customer Satisfaction
Leveraging GBS 2.0 Tools to Drive Improved Customer Satisfaction Background & Unique Greif Solution Example Marginal ▪ Industry-leading customer was a “detractor” on NPS Gain Potential based on customer satisfaction surveys ▪ Improvement from NPS ▪ Partnered with customer to deploy Six Sigma project
Slide 70: Continuing to Progress on Our GBS 2.0 Journey
Continuing to Progress on Our GBS 2.0 Journey Key Opportunities Ahead Operational Execution Market Excellence Excellence Excellence ▪ Focusing on targeted go-to-market ▪ Aligning Lean Six Sigma projects ▪ Scaling proven best practices efficiently strategies to highest impact areas and rapidly across
Slide 71: Key Takeaways
Key Takeaways 1 2 3 4 Enhancing growth Leveraging a broad set of Building on our strong Progressing on our trajectory with GBS 2.0 operational capabilities foundation with Lean operational excellence acceleration to ensure we reliably Six Sigma program, journey with clearly supply our customers driv
Slide 72: Creating Value through Build to Last Strategy
Creating Value through Build to Last Strategy Bala Sathyanarayanan Chief Human Resources Officer ® 2024 INVESTOR DAY | 72
Slide 73: Our Philanthropic Efforts Reflect our Deep Commitment to our Thriving Communities
Our Philanthropic Efforts Reflect our Deep Commitment to our Thriving Communities ® 2024 INVESTOR DAY | 73
Slide 74: Optimized Business Model Creates Unparalleled Value
Optimized Business Model Creates Unparalleled Value Accelerating our Build to Last Bringing deep expertise and Creating significant value strategy by providing legendary customer service to our from sourcing and supply local service with local markets through our optimized chain initiatives and glob
Slide 75: A Conversation with Our Global Leaders
A Conversation with Our Global Leaders Bala Sathyanarayanan Tina Schoner Vivian Bouet Chief Human Resources Officer Chief Supply Chain Officer Chief Information & Digital Officer Moderator Panelists Please review the Appendix for supplementary material referenced in the roundtable discussion. ® 2024
Slide 76: Building Global Centers of Excellence
Building Global Centers of Excellence Supply Chain and Digital Capabilities Enhance Operations ▪ New operations experts building best-in-class functions with Supply Chain Organization Digital / IT Organization significant size and scale ▪ Building world-class supply chain ▪ Developing future-ready d
Slide 77: Key Takeaways
Key Takeaways 1 2 3 Accelerating our Build to Last Bringing deep expertise and Creating significant value from strategy by providing local service legendary customer service to our sourcing and supply chain with global reach local markets through our optimized initiatives and digital capabilities or
Slide 78: Delivering Continued Financial Strength
Delivering Continued Financial Strength Larry Hilsheimer Chief Financial Officer ® 2024 INVESTOR DAY | 78
Slide 79: Key Messages
Key Messages DELIVERING CONTINUED FINANCIAL STRENGTH 1 Resilient business model driving long-term profitable growth Path to continued margin expansion through 2 differentiated customer service and operational excellence 3 Robust and expanding adj. free cash flow supporting strategic and financial op
Slide 80: Further Building on a Strong Foundation of Historical Financial Performance
Further Building on a Strong Foundation of Historical Financial Performance Net Sales Adjusted EBITDA and Adjusted Free Cash Flow and Growth Margin Growth Conversion Growth $2,800 17.0% $1,400 60.0% $2,500 $2,430 $1,200 $1,178 $17,016 16.0% 55.0% Adjusted EBITDA ($m) FCF Conversion (%) Adjusted FCF
Slide 81: Creating Value and Delivering Legendary Customer Service for Key Stakeholders
Creating Value and Delivering Legendary Customer Service for All of Our Key Stakeholders COLLEAGUE ENGAGEMENT CUSTOMER SERVICE DRIVING FINANICAL PERFORMANCE DRIVING FINANICAL PERFORMANCE Gallup Engagement Score Plant Engagement1 and Net Promoter Score Geographic NPS2 and Adj. EBITDA Margin Adj. EBIT
Slide 82: Demonstrating Consistency in Delivering on Financial Guidance
Demonstrating Consistency in Delivering on Financial Guidance FULL-YEAR OVERACHIEVED HIGH-END OF INVESTOR DAY 2019 COMMITMENTS GUIDANCE RANGE 2022 ADJ. EBITDA $785 – 865 $918 FY 2017 COMMITMENT FY 2022 Actual FY 2018 2022 ADJ. FREE CASH FLOW $506 COMMITMENT $410 – 450 FY 2022 Actual FY 2019 FY 2020
Slide 83: Positioning for the Next Wave of Growth
Positioning for the Next Wave of Growth Pursuing Growth in Shifting Product Implementing GBS 2.0 Targeted Verticals Mix Over Time & Driving Operational Efficiencies 5-Year Greif Industry Targeted End Market CAGR Growth Driving Efficiency & Food & Throughput Gains Beverage ~3% ~5% FY 2025+ Pharma & ~
Slide 84: Confidence in Achieving 2027 Adj. EBITDA of $1 Billion+
Confidence in Achieving 2027 Adj. EBITDA of $1 Billion+ Three key building blocks will enable significant organic EBITDA expansion in the next three years Key Drivers ($ in Millions) $100+/- $1,000+ $150+/- 1. Discrete Items reflect incremental impact of recent Ipackchem acquisition, Delta US divest
Slide 85: Balanced and Disciplined Capital Allocation Framework
Balanced and Disciplined Capital Allocation Framework 20% Return Cash to Shareholders 2022-2024 ▪ Continue to increase cash dividends 30% Maintain a Strong Foundation Capital Allocation ▪ Continue to execute ▪ Fund critical maintenance and safety opportunistic share capex to protect the business and
Slide 86: Disciplined and Programmatic Approach to M&A
Disciplined and Programmatic Approach to M&A End Markets Companies Valuation ▪ Large and growing end markets ▪ Leading product positions ▪ High-quality businesses (ROIC) ▪ Integration with existing portfolio ▪ Attractive stand-alone economics ▪ GBS 2.0 or synergy opportunities ▪ Customer or capabili
Slide 87: Confidence in Achieving Our 2027 Financial Targets and Long-term Strategic Targets
Confidence in Achieving Our 2027 Financial Targets and Long-term Strategic Targets 2027 Financial $1.0B+ $500M+ Adjusted EBITDA Adj. Free Cash Flow Targets Long-term Strategic >18% >50% Adjusted EBITDA Margin Adj. FCF Conversion Targets No reconciliation of the 2027 financial targets of Adjusted EBI
Slide 88: Key Takeaways
Key Takeaways 1 2 3 4 Resilient business Path to continued margin Robust and expanding Disciplined and strategic model driving long-term expansion through adj. free cash flow approach to capital profitable growth differentiated customer supporting strategic and allocation with proven service and ope
Slide 89: Invest with Us
Invest with Us 1 Global Leader in Essential Industries ▪ Highly scalable global franchise ▪ World-renowned brand and high product quality ▪ Postured to capture incremental product share 2 Positioned to Deliver Stronger Earnings Power ▪ Ongoing mix shift to higher growth and less cyclical businesses
Slide 90: Q&A Session
Q&A Session ® 90
Slide 91: Appendix
Appendix ® 91
Slide 92: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA ® 2024 INVESTOR DAY | 92
Slide 93: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation RECONCILIATION OF ADJUSTED FREE CASH FLOW ® 2024 INVESTOR DAY | 93
Slide 94: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation RECONCILIATION OF COMPLIANCE LEVERAGE RATIO ® 2024 INVESTOR DAY | 94
Slide 95: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation RECONCILIATION OF COMPLIANCE LEVERAGE RATIO ® 2024 INVESTOR DAY | 95
Slide 96: Creating a World Class Supply Chain
Creating a World Class Supply Chain RECENT ACCOMPLISHMENTS DOUBLING DOWN ON GROWTH 2023 – 2024 2025 & Beyond Instituted enterprise-wide operating model to Leveraging our competitive advantages accelerate value capture to drive value capture ▪ Accelerated centralized systems deployment to consolidate
Slide 97: Empowering Colleagues and Customers with Effortless, Innovative Digital Solutions
Empowering Colleagues and Customers with Effortless, Innovative Digital Solutions & Experiences ▪ Market differentiator ▪ Profitable growth ▪ Improved margins Better Customer Experience Better Colleague Experience Driving Improved Effectiveness Modernized: Personalized, and Efficiency Intelligent an
Slide 98: Speaker Bios
Speaker Bios ® 98
Slide 99: Ole Rosgaard
Ole Rosgaard President & Chief Executive Officer Since 2015, Ole has been committed to shaping Greif’s culture and driving its growth. With extensive experience spanning private, private equity, and public multinational companies, he brings deep operational expertise and a focus on sustainable growt
Slide 100: Larry Hilsheimer
Larry Hilsheimer Chief Financial Officer Larry Hilsheimer joined Greif in May 2014 as Chief Financial Officer. Previously, he served as Executive Vice President and Chief Financial Officer of Scotts Miracle-Gro, Executive Vice President and Chief Financial Officer and President and Chief Operating O
Slide 101: Paddy Mullaney
Paddy Mullaney Chief Business Unit Officer Paddy Mullaney is Senior Vice President & Chief Business Unit Officer at Greif, overseeing global operations for Customized Polymer Solutions, Durable Metal Solutions, Sustainable Fiber Solutions and Integrated Solutions. With over 30 years of experience in
Slide 102: Tim Bergwall
Tim Bergwall Chief Commercial Officer Tim Bergwall is the Senior Vice President and Chief Commercial Officer at Greif, where he leads global sales, marketing, and sustainability activities. Before assuming this role, Tim served as Group President of Paper Packaging & Services and Soterra Land Manage
Slide 103: Kim Kellermann
Kim Kellermann Chief Operations Officer Kimberly Kellermann leads Greif’s Global Operations Group, including leading the Enterprise Automation Strategy; driving continuous improvement; integrating Capital Planning and execution; quality and regulatory compliance and the company’s safety program of Z
Slide 104: Bala Sathyanarayanan
Bala Sathyanarayanan Chief Human Resources Officer Bala V Sathyanarayanan serves as the Executive Vice President & Chief Human Resources Officer. He is focused on delivering a world-class, diverse, and engaged workforce that can execute on Greif’s vision of, be the best performing customer service c
Slide 105: Tina Schoner
Tina Schoner Chief Supply Chain Officer Tina Schoner has served as Chief Supply Chain Officer for Greif Inc. since January 2022. In this role, Tina has primary responsibility for the development and execution of global supply chain strategies for direct and indirect materials & services spend. Tina
Slide 106: Vivian Bouet
Vivian Bouet Chief Information & Digital Officer Vivian Bouet is Greif’s Chief Information & Digital Officer (CIDO), joining us on December 5, 2022. Vivian brings over 28 years of experience in business and technology transformation and most recently served as the Chief Information Officer at CPS En