Worthington Enterprises, Inc. · NYSE:WOR
Worthington Enterprises — Investor Presentation (May 2022)
13 slides from Worthington Enterprises's investor presentation, May 23, 2022
Slide 1: An Approach for the Management of Gas Cylinders
An Approach for the Management of Gas Cylinders May 23, 2022
Slide 2: Agenda
Agenda 1. Background on Work in Connecticut 2. Guiding Principles 3. Program Plan 4. Key Elements of Legislation 5. Questions 2
Slide 3: Worthington Industries
Worthington Industries • Worthington Industries is a leading global supplier of pressurized cylinders and accessories for applications such as fuel storage, water systems, outdoor living, tools and celebrations; and North America’s premier value-added steel processor • As a leading US-based cylinder
Slide 4: Background on Work in Connecticut
Background on Work in Connecticut • Worthington committed to meeting the objectives set by Connecticut legislators to: o Minimize public sector involvement in the management of discarded residential pressurized cylinders; o Free, convenient and accessible state-wide collection of discarded residenti
Slide 5: Review of Other Jurisdictions
Review of Other Jurisdictions 5
Slide 6: Guiding Principles
Guiding Principles • Ensure a level-playing field (i.e., for producers and similar products) • Focus on outcomes as opposed to process (i.e., provide the opportunity to innovate) • Provide for proper oversight and enforcement • Establish achievable timeline that ensures implementation success 6
Slide 7: Understanding the Context
Understanding the Context • To better understand the current practices for collection and management of discarded residential pressurized cylinders, the following tasks were undertaken in Connecticut: o Surveys were sent to municipal governments, regional household hazardous waste (HHW) coordinators
Slide 8: Program Plan
Program Plan • Plan Outline: Worthington will be responsible to pick up, transport and properly manage pressurized cylinders that Worthington Industries supplies to its residential consumers in Connecticut • Worthington will arrange to pick up cylinders from Connecticut HHW events, drop-offs, transf
Slide 9: Program Plan
Program Plan • In-Scope: residential gas cylinders (0.5 lbs to 50 lbs) that contain helium, carbon dioxide or flammable materials • Out-of-Scope: Pressurized cylinders supplied to industrial, commercial and institutional consumers; pressurized cylinders containing oxygen, refrigerants, acetylene, hy
Slide 10: Connecticut Legislation
Connecticut Legislation • Worked closely with Connecticut legislators based on guiding principles and the development of the plan • Worthington supported the legislation • Passed the House and the Senate with all party support • Governor Lamont signed into law on May 10, 2022 10
Slide 11: Key Elements of Legislation
Key Elements of Legislation • Definition of Producer (instead of manufacturer) o Hierarchy approach that ensures clarity and reduces potential for conflict Brand o Addresses out-of-state suppliers and e-commerce o Allows for voluntary producers • Definition of Supplied Licensee of o Broadens ‘sale’
Slide 12: Key Elements of Legislation
Key Elements of Legislation • Designated Materials o Focus on residential cylinders – captures what residents are dropping off o Does not include more controversial cylinders (e.g., non-residential, fire extinguishers) o Focuses efforts on gas cylinders so that producers of gas cylinders can manage
Slide 13: Thank You & Questions
Thank You & Questions Annie Lane Director of Product Sustainability Consumer Products Business, Worthington Industries annie.lane@worthingtonindustries.com 614-840-4012 Peter Hargreave Policy Integrity Inc. phargreave@policyintegrity.ca 905-741-2171 13
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