Slide 1: First Quarter 2025 Earnings Conference Call
First Quarter 2025 Earnings Conference Call February 27, 2025 1
Slide 2: Safe Harbor
Safe Harbor 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,” “project,” “believe,” “c
Slide 3: Investor Day 2024 Highlights
Investor Day 2024 Highlights ▪ Announced 2027 Financial Commitments of $1 Billion EBITDA and $500 Million Free Cash Flow ▪ Demonstrated Value-Creative Durable Growth Driven by Our New, Optimized Business Model ▪ Announced $100 Million Cost Optimization Effort Before 2028 February 27, 2025 3
Slide 4: Accelerating Our Build to Last Strategy
• Packaging Leader to Essential Industries 2024 Investor Day Leading the packaging industry with a people-first and Accelerating Our customer-driven approach serving essential industries Build to Last • Positioned for Growth Capitalizing on an optimized business model to ignite Strategy the next pha
Slide 5: Multiple Levers to Enhance Operating Leverage
Optimizing Our Cost Base Multiple Levers to Enhance Operating Leverage $100M Savings Commitment by 2027 $15-25M FY25 Run-Rate Commitment SG&A Network Operating Rationalization Optimization Efficiency Gains $5M Run-Rate Savings as of Q1’25 February 27, 2025 5
Slide 6: Announcing Our Intention to Divest Land Management (Soterra)
Strategic Update Announcing Our Intention to Divest Land Management (Soterra) Overview Pursuing the divestiture of Greif’s entire portfolio of ~176,000 acres of timberland in the Southeast US Use of Proceeds Proceeds will be applied towards debt reduction to reduce our leverage ratio towards our lon
Slide 7: Demonstrating Resilience Amid Uncertainty
First Quarter 2025 Year-over-Year Volume Trends Demonstrating Resilience Amid Uncertainty Customized Polymer Solutions 2.7% ▪ Volume strongest in small containers (up low-teens) while IBC (up low-single- digits) and large container is softer (down mid-single-digits) Continued ▪ Positive volume prima
Slide 8: Total Company Financial Performance
First Quarter 2025 Total Company Financial Performance ($ in Millions except per share) Q1 FY24 Q1 FY25 Adjusted EBITDA 137.0 145.1 Adjusted EBITDA % 11.4% 11.5% Adjusted Class A Earnings Per Share 1.27 0.39 Adjusted Free Cash Flow (48.2) (61.9) • Announced closure of A1 Paperboard Machine in Austel
Slide 9: Segment Financial Performance
First Quarter 2025 Segment Financial Performance • Polymers: Growth driven primarily from incremental ownership period of Ipackchem, partially offset by higher manufacturing costs • Metals: Flat performance driven by lack of Customized Durable Sustainable Integrated volume inflection offset by stead
Slide 10: Raising Our Low-end 2025 Guidance
2025 Guidance Raising Our Low-end 11 Month Guidance KEY GUIDANCE ASSUMPTIONS 2025 11 Month Guidance ($ in Millions) Provided Provided Change Q4’24 Q1’25 ($ in Millions) Adjusted EBITDA Financial assumptions DD&A 251 251 - Low End of $710 Adj. capital expenditures 165 165 - (prev. $675) Cash interest
Slide 11: Delivering Shareholder Value Creation
Why Invest in Greif 1 Packaging Leader to Essential Industries ▪ Highly scalable global franchise Delivering Shareholder ▪ World-renowned brand and high product quality ▪ Positioned to capture incremental product share Value Creation 2 Positioned to Deliver Stronger Earnings Power ▪ Ongoing mix shif
Slide 12: Appendix
First Quarter 2025 Earnings Conference Call Appendix February 27, 2025 12
Slide 13: 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 Containers Large Steel Caps & Closures Tubes and Cores Large & Medium Medium & Small Paints, Linings Containe
Slide 14: Sales Breakdown by Segment
Sales Breakdown by Segment February 27, 2025 14
Slide 15: 2025 Adjusted Free Cash Flow Guidance
GAAP to Non-GAAP Reconciliation 2025 Adjusted Free Cash Flow Guidance Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our reported financial
Slide 16: Net Income to Adjusted EBITDA
GAAP to Non-GAAP Reconciliation Net Income to Adjusted EBITDA Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our reported financial results.
Slide 17: Segment Operating Profit to Adjusted EBITDA
GAAP to Non-GAAP Reconciliation Segment Operating Profit to Adjusted EBITDA Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our reported fina
Slide 18: Adjusted Free Cash Flow
GAAP to Non-GAAP Reconciliation Adjusted Free Cash Flow Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our reported financial results. Accor
Slide 19: Net Income and Class A Earnings Per Share Excluding Adjustments
GAAP to Non-GAAP Reconciliation Net Income and Class A Earnings Per Share Excluding Adjustments Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior t
Slide 20: Compliance Leverage Ratio and Net Debt
GAAP to Non-GAAP Reconciliation Compliance Leverage Ratio and Net Debt To update Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our reported