This is Greif’s 15th annual sustainability report covering activities and data for 2023. Unless otherwise indicated, data disclosed in this report is for Greif’s 2023 Fiscal Year (FY 2023), which is November 1, 2022 through October 31, 2023. Initiatives discussed in the report follow the calendar year, January 1, 2023 through December 31, 2023.

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Report Overview

GRI 2-3
Reporting period, frequency and contact point

This report is prepared in accordance with the GRI Standards and SASB Application Guidance and fulfills the United Nations Global Compact (UNGC) annual Communication on Progress (COP). We also align our climate-related disclosures with recommendations from the Task Force on Climate-related Financial Disclosures (TCFD). For questions on this report, please contact Aysu Katun, Vice President of Sustainability, at Aysu.Katun@Greif.com.

A Letter from Our CEO

GRI 2-22
Statement on sustainable development strategy
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Ole Rosgaard President and Chief Executive Officer

As we release Greif’s FY2023 Sustainability Report, we celebrate our 15th consecutive year of steadfast commitment to sustainability. This year’s report showcases our dedication to environmental stewardship and aligns with our United Nations Global Compact (UNGC) Communication on Progress, highlighting our achievements, challenges and future commitments in line with the UNGC principles. Our journey over the last 15 years, propelled by the dedication of more than 12,000 colleagues worldwide, has been remarkable, showcasing significant strides in sustainability.

Reflecting on this past year, I am proud of our resilience, innovative spirit and tangible progress. Despite economic challenges, Greif has sustained growth and recorded our second-most successful fiscal year. Our ambitious 2030 sustainability goals, announced in 2023, have already begun to bear fruit, notably achieving gender pay parity across our company. This achievement is a testament to our commitment to equitable and sustainable growth.

Expanding Our Business

FY2023 marked a year of growth for Greif, in alignment with our Build to Last strategy. Our investments in Centurion Container and ColePak and the acquisitions of Lee Container and Reliance Products strengthened our position in the market by expanding our reconditioning network and increasing our product offerings in paper partitions, jerrycans and small plastic bottles, where innovative, multilayer technologies present regional and sustainability-focused growth opportunities. Our growth in the jerrycans and small plastic bottles continues in 2024 with the acquisition of IPACKCHEM Group SAS. We warmly welcome our 1,400 new colleagues, uniting under the One Greif ethos to drive forward our shared vision.

Engaging and Developing Colleagues

At Greif, we believe our strength lies in our people. This year, we achieved unparalleled engagement and development milestones, including record-high completion rates for Performance Development Reviews and exceptional scores in the annual Gallup survey. Recognition by Newsweek as one of Most Loved Workplaces globally underscores our dedication to further enhancing our workplace culture and our commitment to excellence and innovation.

Encouraging Innovation

Innovation is the cornerstone of our success, generating over $822 million in revenue from sustainability-tagged products and services this year. Our inclusive approach to innovation empowers every colleague to contribute, fostering a culture of creativity that enhances our customer service, sustainability and profitability.

Reducing Waste to Landfill

Our commitment to reducing waste is steadfast, with considerable progress towards our waste diversion targets. Achieving zero waste-to-landfill status at 49 facilities and meeting our 2025 waste diversion goals ahead of schedule in Latin America, Europe, the Middle East and Africa as well as Asia Pacific, reflects our dedication to a more sustainable future.

Improving the Customer Experience

This year, we successfully piloted our Customer Digital Platform (CDP), revolutionizing the customer experience with efficient online ordering processes. The expansion of CDP across North America and plans for global rollout exemplify our ambition to lead in customer service excellence.

As we look ahead, I invite you to explore our sustainability report, which highlights our team’s remarkable achievements and ongoing commitment to fostering a sustainable and profitable future. Our journey continues with unwavering dedication to driving positive change for our planet and communities.

Best Regards,

Greif, Inc.

Ole Signature

Ole Rosgaard

President and Chief Executive Officer