PACKAGING SUCCESS TOGETHER™ Third Quarter Fiscal 2021 Earnings Conference Call – September 2, 2021 Safe Harbor FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "may," "will," "expect," "intend," "estimate," "anticipate," "aspiration," "objective," "project," "believe," "continue," "on track" or "target" or the negative thereof and similar expressions, among others, identify forward-l ...

Greif, Inc. (NYSE:GEF) Q3 2021 Results Conference Call September 2, 2021 8:30 AM ET Company Participants Matt Eichmann - Investor Relations Pete Watson - President and Chief Executive Officer Larry Hilsheimer - Chief Financial Officer Ole Rosgaard - Chief Operating Officer Conference Call Participants Ghansham Panjabi - Baird George Staphos - Bank of America Securities Mark Wilde - BMO Capital Markets Adam Josephson - KeyBanc Capital Markets Gabe Hajde - Wells Fargo Operator Good day and thank you for stand ...

[Part I. Financial Information](index=4&type=section&id=Part%20I.%20Financial%20Information) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Greif, Inc.'s unaudited condensed consolidated financial statements for the three and nine months ended July 31, 2021, and 2020, including income, comprehensive income, balance sheets, cash flows, and changes in shareholders' equity, with accompanying notes [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) The company reported significant year-over-year growth in net sales and profitability for both the third quarter and the first nine months of fiscal 2021, with net income attributable to Greif, Inc. increasing to **$113.0 million** and **$286.2 million** respectively Consolidated Income Statement Highlights (in millions, except per share data) | Metric | Q3 2021 | Q3 2020 | 9 Months 2021 | 9 Months 2020 | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $1,490.8 | $1,083.0 | $3,977.9 | $3,353.7 | | **Gross Profit** | $318.8 | $219.7 | $796.9 | $683.0 | | **Operating Profit** | $173.1 | $61.9 | $443.7 | $213.1 | | **Net Income to Greif, Inc.** | $113.0 | $20.7 | $286.2 | $64.4 | | **Diluted EPS (Class A)** | $1.89 | $0.35 | $4.80 | $1.09 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of July 31, 2021, shows an increase in total assets to **$5.72 billion** from **$5.51 billion** at October 31, 2020, driven by higher trade accounts receivable and inventories, while total long-term debt decreased, contributing to a stronger equity position Key Balance Sheet Items (in millions) | Account | July 31, 2021 | October 31, 2020 | | :--- | :--- | :--- | | **Total Current Assets** | $1,566.9 | $1,302.8 | | **Total Assets** | $5,723.6 | $5,510.9 | | **Total Current Liabilities** | $1,241.7 | $1,000.1 | | **Long-term Debt** | $2,089.7 | $2,335.5 | | **Total Shareholders' Equity** | $1,507.5 | $1,200.7 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended July 31, 2021, net cash provided by operating activities was **$258.7 million**, comparable to the prior year, with investing activities providing **$86.2 million** primarily from timberland sales, and financing activities using **$354.1 million** mainly for debt repayment and dividends Cash Flow Summary for Nine Months Ended July 31 (in millions) | Cash Flow Activity | 2021 | 2020 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $258.7 | $254.3 | | **Net Cash from Investing Activities** | $86.2 | $(14.8) | | **Net Cash from Financing Activities** | $(354.1) | $(225.6) | | **Net (Decrease) in Cash** | $(6.1) | $21.2 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section details accounting policies and specific financial items, including changes in reportable segments, restructuring charges, long-term debt composition, financial instruments, segment performance, and the significant gain from timberland disposal - Effective in the first quarter of 2021, the company combined its Rigid Industrial Packaging & Services and Flexible Products & Services segments into a single reportable segment named **Global Industrial Packaging**[22](index=22&type=chunk)[87](index=87&type=chunk) - Restructuring charges of **$18.8 million** were recorded in the first nine months of 2021, down from **$26.8 million** in the prior-year period, focusing on optimizing the Paper Packaging segment and rationalizing the Global Industrial Packaging segment[25](index=25&type=chunk)[27](index=27&type=chunk) - On July 14, 2021, the company paid in full its **€200.0 million** 7.375% Senior Notes due 2021 using proceeds from a new **$225.0 million** Incremental Term A-3 Loan[32](index=32&type=chunk)[35](index=35&type=chunk) - In the second quarter of 2021, the company sold approximately 69,200 acres of Alabama timberland for **$145.1 million** in cash, resulting in a pre-tax gain of **$95.7 million**, with proceeds used for debt repayment[90](index=90&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance for the third quarter and first nine months of 2021, highlighting strong performance driven by higher volumes and prices across key segments, offsetting increased raw material and transportation costs, and detailing the new segment structure, financial results by segment, balance sheet changes, and liquidity and capital resources [Third Quarter Results of Operations](index=28&type=section&id=Third%20Quarter%20Results%20of%20Operations) Third quarter 2021 results showed substantial improvement over the prior year, with net sales growing **37.7%** to **$1.49 billion** and operating profit nearly tripling to **$173.1 million**, driven by strong performance in both the Global Industrial Packaging and Paper Packaging & Services segments Q3 2021 vs Q3 2020 Performance (in millions) | Metric | Q3 2021 | Q3 2020 | Change | | :--- | :--- | :--- | :--- | | **Total Net Sales** | $1,490.8 | $1,083.0 | +37.7% | | **Total Operating Profit** | $173.1 | $61.9 | +179.6% | | **Total Adjusted EBITDA** | $237.8 | $159.4 | +49.2% | - Management anticipates customer demand trends from Q3 to continue into Q4, with supply markets for steel, resin, and old corrugated containers (OCC) expected to remain tight, and OCC prices likely to continue increasing[118](index=118&type=chunk) [Year-to-Date Results of Operations](index=35&type=section&id=Year-to-Date%20Results%20of%20Operations) For the first nine months of 2021, net sales increased by **18.6%** to **$3.98 billion**, operating profit more than doubled to **$443.7 million** significantly boosted by a **$95.7 million** gain on timberland sale, and Adjusted EBITDA grew **13.3%** to **$552.9 million** Nine Months 2021 vs 2020 Performance (in millions) | Metric | 9 Months 2021 | 9 Months 2020 | Change | | :--- | :--- | :--- | :--- | | **Total Net Sales** | $3,977.9 | $3,353.7 | +18.6% | | **Total Operating Profit** | $443.7 | $213.1 | +108.2% | | **Total Adjusted EBITDA** | $552.9 | $488.1 | +13.3% | - The Global Industrial Packaging segment's Adjusted EBITDA increased by **$81.7 million** year-to-date, driven by higher volumes and prices, while the Paper Packaging & Services segment's Adjusted EBITDA decreased by **$14.7 million** due to higher input and transportation costs offsetting price and volume gains[157](index=157&type=chunk)[160](index=160&type=chunk) [Liquidity and Capital Resources](index=40&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains liquidity through operating cash flows and various credit facilities, with total long-term debt, net of current portion and financing costs, at **$2.09 billion** as of July 31, 2021, a reduction from **$2.34 billion** at October 31, 2020, and **$738.5 million** of available borrowing capacity under its revolving credit facility - Primary sources of liquidity are operating cash flow, senior secured credit facilities, senior notes, and trade accounts receivable credit facilities[175](index=175&type=chunk) Long-Term Debt Summary (in millions) | Category | July 31, 2021 | October 31, 2020 | | :--- | :--- | :--- | | **2019 Credit Agreement - Term Loans** | $1,277.3 | $1,429.8 | | **Senior Notes due 2027** | $495.7 | $495.1 | | **Accounts receivable credit facilities** | $386.4 | $310.0 | | **Total Long-term debt, net** | $2,089.7 | $2,335.5 | - As of July 31, 2021, the company had **$738.5 million** of available borrowing capacity under its **$800.0 million** secured revolving credit facility[182](index=182&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no significant changes in its quantitative and qualitative disclosures about market risk from those presented in its Annual Report on Form 10-K for the fiscal year ended October 31, 2020 - There have been no significant changes in market risk disclosures since the 2020 Form 10-K[200](index=200&type=chunk) [Controls and Procedures](index=44&type=section&id=Controls%20and%20Procedures) Management confirms no material changes in internal control over financial reporting during the most recent fiscal quarter and that disclosure controls and procedures were effective as of the end of the period - No material changes to internal control over financial reporting occurred during the quarter[201](index=201&type=chunk) - The CEO and CFO concluded that disclosure controls and procedures were effective as of July 31, 2021[202](index=202&type=chunk)[203](index=203&type=chunk) [Part II. Other Information](index=45&type=section&id=Part%20II.%20Other%20Information) [Item 1A. Risk Factors](index=45&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K for the fiscal year ended October 31, 2020 - There have been no material changes in risk factors from those disclosed in the 2020 Form 10-K[204](index=204&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=45&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities or use of proceeds during the period - None reported for the period[205](index=205&type=chunk) [Item 6. Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and an amendment agreement related to a receivables financing facility [Signatures](index=46&type=section&id=Signatures) The report is duly signed on September 2, 2021, by Lawrence A. Hilsheimer, the Executive Vice President and Chief Financial Officer of Greif, Inc

PACKAGING SUCCESS TOGETHER™ Second Quarter Fiscal 2021 Earnings Conference Call – June 10, 2021 Safe Harbor FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "may," "will," "expect," "intend," "estimate," "anticipate," "aspiration," "objective," "project," "believe," "continue," "on track" or "target" or the negative thereof and similar expressions, among others, identify forward-look ...

Greif, Inc. (NYSE:GEF) Q2 2021 Results Conference Call June 10, 2021 8:30 AM ET Company Participants Matt Eichmann - Vice President, Investor Relations & Corporate Communications Pete Watson - Vice President and Chief Executive Officer Larry Hilsheimer - Chief Financial Officer Conference Call Participants George Staphos - BofA Securities Gabe Hajde - Wells Fargo Mark Wilde - BMO Capital Markets Adam Josephson - KeyBanc Matt Krueger - Robert W. Baird Justin Bergner - Gabelli Operator Good day and thank ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________ FORM 10-Q _________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-00566 _________________________________ GREIF, INC. (Exact name of registrant as specified in its charter) __ ...

PACKAGING SUCCESS TOGETHER™ March 2021 Investor Presentation 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," "continue," "on track" or "target" or the negative thereof and similar expressions, among others, identify forward-looking statements. All forward look ...

Greif, Inc. (NYSE:GEF) Q1 2021 Earnings Conference Call February 25, 2021 8:30 AM ET Company Participants Matt Eichmann – Vice President-Investor Relations, External Relations and Sustainability Pete Watson – Vice President and Chief Executive Officer Larry Hilsheimer – Executive Vice President and Chief Financial Officer Conference Call Participants Gabe Hajde – Wells Fargo Jesse Barone – BMO Capital Markets Matt Krueger – Baird Operator Ladies and gentlemen, thank you for standing by, and welcome to the G ...

PACKAGING SUCCESS TOGETHER™ FIRST QUARTER FISCAL 2021 EARNINGS CONFERENCE CALL FEBRUARY 25, 2021 Safe harbor FORWARD-LOOKING STATEMENTS • This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "may," "will," "expect," "intend," "estimate," "anticipate," "aspiration," "objective," "project," "believe," "continue," "on track" or "target" or the negative thereof and similar expressions, among others, identify forward-l ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________ FORM 10-Q _________________________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-00566 _________________________________ GREIF, INC. (Exact name of registrant as specified in its charter) ...