2026 Investor Materials
Greif Inc. OverviewInvestor Presentation 2026 1
Greif at a Glance (NYSE: GEF)
Packaging Leader to Essential Industries148
Years in Operation
220+
Facilities
35+
Countries
73
Net Promoter Score
20k+
Customers
15%
Top 20 Customer Sales
FY26 LOW-END GUIDANCE ADJUSTED
EBITDA
ADJUSTED
FREE CASH FLOW
ADJUSTED
FCF CONVERSION
Q4'25 PROFORMA
$630M
$315M 50%
20%
Other
Industrial
20%
Other Consumer
SELECT KEY CUSTOMERS
END MARKETS
FINANCIAL HIGLIGHTS
20%
Ag & Specialty Chemical
15%
Food, Beverage, Flavors & Fragrance
LEVERAGE RATIO1<1.0x
10%
Bulk Chemical
15%
Investor Presentation 2026
3
Petrochemical & Lubes
1. Reflects Q4'25 ending leverage ratio proforma for ~$462m of gross proceeds on the Land Management divestment, not factoring for deferral of tax payments, net of
~$10m EBITDA contribution from the business in FY25
Targeting High Growth End Markets
Proactively Shifting our Product MixTargeting Expansion in Four Growing, Resilient End Markets
Food &
Beverage
Adjusted
EBITDA by:
Material Solution
2015
202 4
202 6 +
Pharma & Medical
Flavors &
Fragrances
Agrochemicals
Investor Presentation 2026
4
|
|
|
|
|
Investing In Premium Solutions For Growth In Resilient High Margin End Markets
Optimized Greif Portfolio
Delivering Customer Value Across Four SolutionsCUSTOMIZED POLYMER SOLUTIONS
DURABLE METAL SOLUTIONS
SUSTAINABLE FIBER SOLUTIONS
INNOVATIVE CLOSURE SOLUTIONS
Small Containers
Large Steel
Fiber Drums
Polymer Closures
Large & Medium Containers
New & Recon Intermediate Bulk Containers (IBCs)
Medium & Small Steel
Specialty Drums
Tube & Core
Partitions
Investor Presentation 2026
5
Recycled Materials & Adhesives
Metal Closures
Specialty Closures
Capital Allocation Framework
Deploying Greif's Strong and Durable Cash Flow to Optimize Shareholder ValuePriorities for Disciplined Capital Deployment
Maintain a Strong Foundation
Manage leverage and liquidity
Fund safety and maintenance CapEx
Return Cash to Shareholders
Deliver consistent growing dividends
Repurchase shares opportunistically
Invest for Growth
Fund high-return organic growth initiatives
Bolt-on acquisitions in target markets
Executing on Share Repurchases
$150MPlan to complete open market repurchases of both Class A and Class B shares
under our existing open authorization1 as quickly as possible2
Investor Presentation 2026
6
Open authorization for approximately 2.5m shares
Announced on November 5th, 2025 and subject to applicable securities laws
Building a Leaner More Agile Organization
Accelerating Our Cost Optimization ProgramNetwork Optimization
Run-Rate
SG&A
Rationalization
Cost Savings
$120M
$80 - 90M
$50M
Operating Efficiency Gains
End of FY25 (Actual)
End of FY26 (Anticipated)
End of FY27 (Anticipated)
Increased Savings
Commitment to $120M
Significant SG&A rationalization in Q4-25
$15M cumulative savings from
network optimization and operating efficiency gains
$35M cumulative savings from
SG&A rationalization
Investor Presentation 2026
7
2026 Guidance
Low-End 2026 Guidance($ in Millions)
Adjusted EBITDA
$630M
Adjusted Free Cash Flow
$315M
Guidance Assumptions
VOLUME ASSUMPTIONS
Customized Polymer Solutions Up LSD
$30
$7 $0
$0
($10)
$630
Durable Metal Solutions Flat to Down LSD
Sustainable Fiber Solutions Flat to Down LSD
Innovative Closure Solutions Up LSD
FREE CASH FOW GUIDANCE BRIDGE
DD&A $225
Adj. capital expenditures $155
Cash interest expense $40
Cash tax expense $120
Cash restructuring and pension $50
Investor Presentation 2026
8
Operating working capital source $50
$45 | ||||||||||
$558 | ||||||||||
FY 2025 Actual Annualized | SG&A | Price/Cost | FX | Volume | Trans./ Manuf. | Land Divestment | FY 2026 Low-End Guidance | |||
Adj EBITDA | Adj EBITDA | |||||||||
Why Invest in Greif
Creating Sustainable Shareholder Value
Packaging Leader to Essential Industries
1Highly scalable global franchise
World-renowned brand and high product quality
Positioned to capture incremental product share
2Positioned to Deliver Stronger Earnings Power
Ongoing mix shift to higher growth and less cyclical businesses
Clear strategy to drive business towards long-term commitment Adjusted EBITDA margin of 18%+
Steady Adjusted Free Cash Flow generation driving
business towards 50%+ long-term commitment
3Proactively Allocating Capital to Value Accretive Opportunities
Consistent return of cash to shareholders
Growing in areas with significant addressable growth
InveDsteocrePmrebseer n3t0a,t2io0n252026
9
Organic growth focused, with disciplined tuck-in M&A and strong synergy execution
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |