The Shyft Group Releases 2023 Sustainability Report

Affirms commitment to Environmental, Social, and Governance principles

Demonstrates progress across initiatives that advance sustainability,
promote diversity, equity and inclusion, and enhance corporate transparency

NOVI, Mich., Sept. 14, 2023 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) today published its 2023 sustainability report, Charging Towards a Sustainable Future, highlighting the company's sustainability activities, performance and results from calendar year 2022. The Shyft 2023 sustainability report can be read here: https://theshyftgroup.com/corporate-responsibility/sustainability-repo ...

The Shyft Group advances sustainability through three key dimensions: environmental stewardship, social responsibility and governance excellence. These pillars are integral to the company’s long-term growth strategy and value creation for stakeholders. This year’s report includes Scope 1 and Scope 2 greenhouse gas emissions, calculated in accordance with the Greenhouse Gas Protocol Corporate Accounting and Reporting Standard. Shyft will look to this information as a baseline for future emissions assessment and to guide reduction strategies.

"In collaboration with our Board of Directors, the dedicated team spearheading our sustainability efforts, and each individual within the Shyft community, we are forging ahead with a unified purpose and unwavering commitment," said Josh Sherbin, Chief Legal and Compliance Officer. "Our accomplishments in 2022 reflect our continued commitment to a future that's brighter and more sustainable for all."

The Shyft Group’s sustainability highlights from calendar year 2022 include:

• 73% of waste recycled
• 6% decrease in year-over-year grid electricity use
• More than $350 million in revenue from products designed to increase fuel efficiency and reduce emissions
• 59% of products included input materials from recycled or remanufactured content
• 28% reduction in the Total Recordable Incident Rate from 2021 to 2022
• The kick-off of Shyft for Good which includes Shyft’s quarterly contribution of $25,000 to a non-profit across areas such as health, education, the environment and communities in need – this program expands Shyft’s support in 2022 of The Heat and Warmth Fund (THAW) in Detroit
• 40% of the Board of Directors is comprised of women and people from underrepresented communities