Slide 1: Second Quarter 2025 Earnings Conference Call
Second Quarter 2025 Earnings Conference Call June 5, 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: Strong Execution While Strengthening Our Competitive Advantages
Strong Execution While Strengthening Our Competitive Advantages Engagement Customer Service Sustainability 2024 Supplier Innovation Award 86th Manf. Percentile 2025 Another Year of Accoladed Published 16th Annual World-Class Customer Service Sustainability Report Employee Engagement June 5, 2025 3
Slide 4: On Pace to Meet our 2025 Run-Rate Cost Commitment
Optimizing Our Cost Base On Pace to Meet our 2025 Run-Rate Cost Commitment $100M Savings Commitment by 2027 $15-25M FY25 Run-Rate Commitment SG&A Network Operating Rationalization Optimization Efficiency Gains $10M 2025 Year End Run-Rate Savings as of Q2’25 June 5, 2025 4
Slide 5: Demonstrating Resilience Amid Uncertainty
Second Quarter 2025 Year-over-Year Volume Trends Demonstrating Resilience Amid Uncertainty EMEA Flat Customized Polymer Solutions 1.5% ▪ Volume strongest in small containers (up mid-single) and IBC (up low- x% single) with large containers softer (down mid-single) NA Softness APACx% Flat ▪ Positive
Slide 6: Building the Future While Managing the Present
Building the Future While Managing the Present Well Insulated from Tariff Impacts ▪ Expansive footprint of 250+ facilities results in largely local-to-local business ▪ Monitoring global trade, currently anticipating maximum annual impact before mitigating actions of $10 million cost ▪ Global footpri
Slide 7: Total Company Financial Performance
Second Quarter 2025 Total Company Financial Performance ($ in Millions except per share) Q2 FY24 Q2 FY25 Adjusted EBITDA 169.7 213.9 Adjusted EBITDA % 12.4% 15.4% Adjusted Class A Earnings Per Share 0.83 1.19 Adjusted Free Cash Flow 59.0 109.6 • Land Management (Soterra) divestiture on schedule with
Slide 8: Segment Financial Performance
Second Quarter 2025 Segment Financial Performance • Polymers: Sales improved on volume, price Customized Durable Sustainable Integrated ($ in Millions) Polymers Metals Fiber Solutions and mix from target end markets of Food/Bev, F&F, Pharma and Ag Q2 24 Q2 25 Q2 24 Q2 25 Q2 24 Q2 25 Q2 241 Q2 25 • M
Slide 9: Raising Low-End Guidance Given Strong Q2 Performance
2025 Guidance Raising Low-End Guidance Given Strong Q2 Performance KEY GUIDANCE ASSUMPTIONS 2025 Guidance ($ in Millions) Provided Q1’25 Provided Q2’25 Change ($ in Millions) Adjusted EBITDA Financial assumptions DD&A 251 251 - $725M Adj. capital expenditures 165 165 - (prev. $710 Low-End) Cash inte
Slide 10: 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 11: Appendix
Second Quarter 2025 Earnings Conference Call Appendix June 5, 2025 11
Slide 12: Our Sustainable Competitive Advantages
Our Sustainable Competitive Advantages Commitment Extensive portfolio to sustainable Robust scale of solutions to and circular REPLACE and global network meet our packaging of facilities customers’ needs solutions World-class culture Deep subject delivering matter expertise legendary and tailored cu
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 JuneJune 5, 2025 5, 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: Segment Operating Profit to Adjusted EBITDA Cont.
GAAP to Non-GAAP Reconciliation Segment Operating Profit to Adjusted EBITDA Cont. 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 reporte
Slide 19: 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 20: 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 21: Compliance Leverage Ratio and Net Debt
GAAP to Non-GAAP Reconciliation Compliance Leverage Ratio and Net Debt 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