Tranche Update on The Greenbrier Companies, Inc.'s Equity Buyback Plan announced on October 31, 2013.

From October 31, 2013 to November 30, 2013, the company has repurchased 28,610 shares, representing 0.1% for $0.87 million. With this, the company has completed the repurchase of 28,610 shares, representing 0.1% for $0.87 million under the buyback announced on October 31, 2013.