Greenbrier, SSAB and Alter Help Close the Loop on Steel

~ Railcars featuring SSAB Zero™ steel goes to Alter Trading, transporting recycled metals back to SSAB ~

~ Creates a continuous recycling cycle that supports lower-emissions steel production ~

LAKE OSWEGO, Ore., Aug. 20, 2026 /PRNewswire/ -- The Greenbrier Companies, Inc. (NYSE: GBX) today announced the completion of 50 gondola railcars built as part of a pioneering circular economy collaboration with SSAB Americas ("SSAB") and Alter Trading Corporation ("Alter"). The effort demonstrates how lower-emissions steel, innovative railcar design, and closed-loop recycling can work together to reduce environmental impact while supporting industrial supply chains.

Experience the interactive Multimedia News Release here: https://www.multivu.com/greenbrier/9415951-en-greenbrier-ssab-alter-help-close-loop-steel

The railcars were manufactured using SSAB Zero™ steel, produced from recycled steel using fossil-free electricity and designed to achieve near-zero fossil carbon emissions. Greenbrier incorporated the material into railcars engineered for decades of service, underscoring the company's commitment to durability, performance, and responsible resource stewardship.

In addition to utilizing SSAB Zero™, Greenbrier incorporated high-strength steel to reduce overall car weight while maintaining structural integrity and enhancing durability. The lighter-weight design increases payload capacity, improves transportation efficiency, and helps reduce lifecycle emissions.

The railcars will be delivered to Alter, where they will begin service transporting recycled metals, including end-of-life steel, to SSAB's steelmaking facility in Iowa. There, the material will be melted and transformed into new steel products, creating a continuous recycling loop that keeps valuable materials in use and reduces reliance on virgin raw materials.

"This collaboration demonstrates the power of innovation across the supply chain," said Brian Comstock, Greenbrier Executive Vice President and President, The Americas. "By working closely with customers and suppliers, we're advancing practical solutions that strengthen industrial sustainability while delivering the performance, reliability, and long-term value our customers expect."

The initiative demonstrates Greenbrier's commitment to:

• Responsible sourcing by integrating lower-emissions materials like SSAB Zero™ steel into railcar manufacturing where they create value for customers and stakeholders;
• Circular economy principles that maximize material reuse and support sustainable industrial processes;
• Product innovation through advanced material applications that enhance performance, efficiency, and environmental outcomes.

"These railcars represent more than a transportation solution—they are part of a circular system that connects steel production, recycling, and manufacturing," Comstock added. "Together with SSAB and Alter, we're demonstrating how collaboration can create measurable benefits across the value chain."

Greenbrier has a long history of leveraging advanced materials to improve railcar performance, including lighter-weight, higher-capacity designs that improve efficiency and durability. This collaboration builds on that legacy by combining next-generation steel with a practical closed-loop recycling model that supports both operational efficiency and sustainability goals.

About Greenbrier

Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Through its wholly-owned subsidiaries and joint ventures, Greenbrier designs, builds and markets freight railcars in North America, Europe, and Brazil. We are a leading provider of freight railcar wheel services, parts, maintenance and retrofitting services in North America. Greenbrier owns a lease fleet of approximately 20,600 railcars that originate primarily from Greenbrier's manufacturing operations. Greenbrier offers railcar management, regulatory compliance services and leasing services to railroads and other railcar owners in North America. Learn more about Greenbrier at www.gbrx.com.

About Alter

Founded in 1898, Alter Trading Corporation is a 128-year-old, fifth generation, privately owned company. Alter is ISO 9001 and 14001 certified, has 1,600 employees, and operates 78 metal recycling facilities and five trading offices in eleven states, along with a sales office in Singapore. Headquartered in St. Louis, Alter provides a direct supply of quality products and services, sourced both in America and abroad, to customers in the United States and throughout the world. Read more about our footprint and operations at www.altertrading.com.

About SSAB

SSAB is a global leader in premium steels, shaping a stronger, lighter, and more sustainable world. With high-strength and advanced steels, pioneering decarbonized offerings, and value-add services, we deliver unique customer value and accelerate customer competitiveness worldwide. A steelmaker since 1878, our teams in more than 50 countries set the standard for industry–leading performance. SSAB operates steel mills in Sweden, Finland, and the United States and is leading the transformation of the industry – dramatically reducing emissions from our own production. SSAB shares are listed on Nasdaq Stockholm, with a secondary listing on Nasdaq Helsinki.

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SOURCE The Greenbrier Companies, Inc.