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Corporate Overview
For additional information contact:
Michael J. Monahan
Senior Vice President External Relations
Telephone: 651-250-2809
Mike.Monahan@ecolab.com
Andy Hedberg
Director Investor Relations
Telephone: 651-250-2185
Andrew.Hedberg@ecolab.com
Ecolab Inc.
1 Ecolab Place
St. Paul, MN 55102
www.ecolab.com
CAUTIONARY STATEMENT
Forward-Looking Information: This communication contains forward looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding our
future financial and business performance and prospects, including sales, operating income and return on invested capital growth,
margins, impact of oil prices, macro trends and long-term potential of our business, new business, innovation, targeted credit rating
metrics, dividends, and share repurchase and acquisition activity. These statements are based on the current expectations of
management of the Company. There are a number of risks and uncertainties that could cause actual results to differ materially from
the forward-looking statements. These risks and uncertainties are set forth in our most recent Form 10-K, Form 10-Q and other public
filings with the Securities and Exchange Commission (the “SEC”) and include the vitality of the markets we serve, including the
markets served by our Global Energy segment; the impact of worldwide economic factors such as the worldwide economy, credit
markets, interest rates and foreign currency risk; exposure to economic, political and legal risks related to our international operations;
the costs and effects of complying with laws and regulations relating to our operations; the occurrence of litigation or claims; and other
uncertainties or risks reported from time to time in our reports to the SEC. In light of these risks, uncertainties and factors, the forward-
looking events discussed in this communication may not occur. We caution that undue reliance should not be placed on forward-
looking statements, which speak only as of the date made. Ecolab does not undertake, and expressly disclaims, any duty to update
any forward-looking statement except as required by law.
Non-GAAP Financial Information: This communication includes Company information that does not conform to generally accepted
accounting principles (GAAP). Management believes that a presentation of this information is meaningful to investors because it
provides insight with respect to ongoing operating results of the Company and allows investors to better evaluate the financial results
of the Company. These measures should not be viewed as an alternative to GAAP measures of performance. Furthermore, these
measures may not be consistent with similar measures provided by other companies. Reconciliations of non-GAAP measures to
GAAP results are available in our most recent Form 10-K, Form 10-Q and other of our SEC filings.
Industry and Market Information: Industry and market information, including market data, contained in this communication are
based on management’s current estimates of potential opportunities of Ecolab. These estimates have been made in good faith based
on management’s knowledge and, in some cases, upon industry surveys and other publicly available information. You are cautioned
not to give undue weight to such estimates, and we have not verified the accuracy or completeness of these estimates and
information through independent sources.
Presentation Format: Unless otherwise noted, the data shown is for consolidated Ecolab and does not reflect the planned spin off of
the ChampionX business.
1
ECOLAB: UNIQUELY POSITIONED
TO DELIVER WHAT MATTERS MOST
SAFE
FOOD
CLEAN
WATER
HEALTHY
ENVIRONMENTS
2
33
COVID-19 UPDATE®
Our View
4
Ecolab is healthy and positioned to help
Ecolab is doing its part
COVID represents an unprecedented event:
▪2020: manage through the crisis and protect key drivers
▪2021: return to fundamental performance
Our Goals in 2020
Continue to be a company people can count on…do our part:
▪Communities
▪Customers
▪Our team
▪ Investors
Emerge even stronger:
▪As a team
▪As a business and company
5
COVID-19: Meeting Demand
Increased supply
▪ Partnered with public health authorities to develop guidelines on virucidal products and programs to fight COVID-19
▪ Accelerated new disinfectant and sanitizer product development
▪ Fast-tracking registration globally of new disinfection solutions across industries and geographies
▪ Maximizing sanitizer production:
- 5X production – and driving for more, adding copackers
- Temporarily converting related production lines to make sanitizers
- Shipping drum-size sanitizers to very large and critical users (healthcare)
- Leveraging alternate alcohol sources (distillers, brewers) to expand sanitizer production
▪ Ramped up Bioquell decontamination unit production
Accelerated digital transformation
▪ Drive incremental value: digital programs, digital field platforms
▪ Leveraging 3DT, Refined Knowledge, assurance center and other digital systems to enhance remote monitoring and assure reliable operation of critical assets
6
COVID-19: Supporting our Customers
Strong support for emergency healthcare facilities
▪ Supporting rapid implementation of safe/sanitized temporary hospital facilities and medical worker housing, along with training to maintain sanitized environments in high risk areas
▪ Providing hospitals with digital devices to identify and track hospital room personnel traffic and their hygiene compliance
Rapid response to emerging needs
▪ Laundry viricidal programs set up in 3 days
▪ Expediting cleaners/sanitizers to critical locations
COVID-19 stress reduction for Foodservice and Hospitality
▪ Utilizing field and strong financial position to help
▪ Temporarily reducing fixed payments while extending agreements
Planning for recovery
▪ Developing re-open packages for foodservice and hospitality
▪ Field teams planning new business generation, increased solutions per account
7
Support our Essential Customers in the Safest Way Possible
Protect our People
▪ Social Distancing / Facility Hygiene
▪ Admin: Work from home (90%+ working from home)
▪ Production: shift, line separation
▪ Field: no group settings, modified customer service protocol
▪ Pay Protect Plan
Protect our Customers
▪ Protection maintained
▪ Field and tech support provided globally
Protect our Company
▪ P&L / Cash: capital, hiring, and spending controls
▪ Positive Free Cash Flow even in all modeled scenarios
8
Ecolab Customer Markets
9
= 33%
= 23%
= 13%
= 31%
Excludes Upstream Energy
Ecolab Customer Market % of Ecolab Sales
Food and Beverage 20%
Healthcare 8%
Food Retail 3%
Long Term Care 2%
Paper, Power, Electronics 11%
Quick Service Restaurants 6%
Life Sciences 2%
All Other 4%
Refineries 5%
Chemicals 4%
Education 4%
Full Service Restaurants 14%
Lodging 8%
Mining, Primary Metals, Transportation 5%
Textile Care 2%
Cruise, Gaming, and Recreation 2%
Demand
Plus
Demand
Same
Demand
Down
Demand
Depressed
COVID Summary
Ecolab well positioned to help
▪ Financially
▪ Strategically
Our team is focused on customers
This will pass … a new normal will emerge
10
Cleaner, Safer, Healthier Positioning Even More Right
Hygiene, Antimicrobial & ESG Know-How Will Matter Even More
1111
ROBUST LONG-TERM OPPORTUNITY
®
Robust Long-Term Opportunity
Ecolab’s long-term opportunities remain strong
While COVID will present the world with a very challenging
2020, we expect to emerge stronger:
▪ Increased global focus on cleaning and sanitizing
▪ Our continuing investment in strategic drivers increases our
technology and people advantages
▪ Our strong financial position benefits us versus weaker competitors
12
Leader in Highly Fragmented, Large and
Growing Market
ECOLAB SALES
2019:
$13 BILLIONExcludes ChampionX
Ecolab Competitors
Market data reflects current estimates of
potential opportunities and excludes ChampionX
13
0
20
40
60
80
100
120
140
1995 2000 2005 2010 2015 2020
MARKET OPPORTUNITY GROWTH SINCE 1995
$130B
$57B$39B
$32B$18B
Ecolab
$106B
10%
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
Estimates by category
Major Opportunities in Existing Markets14
$ MILLIONS Ecolab Remaining Opportunity
$0 $5,000 $10,000 $15,000 $20,000 $25,000
Building Services
Other
Mining
Refining
Food Retail
Ed./Government
Life Sciences
Lodging
Light Industry
Paper
Heavy Industry
Food & Beverage
Health Care
Food Service
Market data reflects current estimates of
potential opportunities and excludes ChampionX
DIVERSIFIED GLOBAL CUSTOMER BASENearly 3 Million Customer Locations
Largest customer <2% of sales
Top 10 customers 10% of sales
15
UNSOLD CUSTOMERS
CIRCLE THE CUSTOMER
$45B$72B
$13B
Leading Scale and Global Footprint Enables Us To Grow
With Customers Around The World
16
Build Share With Largest Players
2019 SALES
Focus where the growth is
Leveraging innovation
Circle the Globe
Market share
New technologies and services
Circle the Customer
Growth synergies
2019 sales exclude ChampionX. Market data
reflects current estimates of potential opportunities
Labor
Asset ProtectionWater &
Energy
Maint./Other
Strong Customer Value PropositionBest results, lowest use cost
Ecolab’s customer value proposition
The best results and consistent
improvement in customer satisfaction
Lower total operating costs
Improved sustainability
Specific customer application cost
17
Innovation: Digital Food Safety18
Drives food safety excellence & compliance, while improving
labor efficiency
Mobile customer App digitizes food safety tasks and
temperature monitoring, improves food safety compliance, saves
time and replaces paper logs
Remote monitoring of operational and sanitation compliance;
helps predict Health Department inspection audit violations
Dynamic dashboard reporting consolidates food safety audits,
pest reports, health department inspections, mobile app logs &
sanitation compliance into dashboards & critical metric alerts
Supported by in-unit service and training
Hygiene and Food
Safety compliance
improves to more
than 90% from less
than 50%
Annual Customer Value (1000 Unit Chain)
Metric Before After Value Created
Labor Savings $5,140,000 $2,570,000 $2,570,000
CONNCECTED DISPENSING, CHEMISTRY, MONITORING AND PREDICTIVE ANALYTICS
Innovation: Legionella ProtectionDIGITALLY ENABLED WATER SAFETY PROGRAM: PROTECTING BRAND & CUSTOMERS
19
Enterprise-wide legionella risk mitigation solution
Proactive analytics and digital monitoring – real time
monitoring and predictive analytics to treat legionella risk
Risk mitigation – critical part of operator water
management compliance system to reduce risk of costly
pathogen outbreaks
Reduced remediation costs – proactive treatment
reduces brand risk and outbreak remediation costs
Brand Protection
$8 MILLION average revenue loss per outbreak
from business interruption and
brand reputation harm
Cost Avoidance
$2.6 MILLION in estimated legionella
outbreak litigation cost
avoidance
Improved Risk
Management
8xUp to 8x better at
detecting legionella than
using traditional methods
Innovation: Food ServiceMULTI-USE, NO-RINSE FOOD CONTACT CLEANING AND SANITIZING SOLUTION
20
▪ Concentrated formula for food contact surfaces and 3rd sink
sanitization streamlines operations & improves compliance
▪ Kills Norovirus (#1 cause of foodborne illness)
▪ Foodborne pathogen protection E.coli, Staph, Salmonella,
Listeria
▪ Visual indication of concentration, “at a glance”
SINK & SURFACE CLEANER SANITIZER
Annual Customer Value
100 Unit Chain
Metric Before After Value Created
Labor Cost2 step process
$152,000
2 step process
$152,000
Labor savings
$152,000
Packaging
Waste
Competitor’s 2 product,
diluted solution
218,000 lbs
Ecolab’s concentrated
solution
1,100 lbs
Reduced packaging
waste
216,900 lbs
50% reduction in
table turn time and
99% reduction in
packaging waste
LAST YEAR, ECOLAB HELPED:
45%
Produce
of the global processed
milk supply
Generate
20%of the world’spower 45 BILLION
Serve
meals
1 BILLION+Clean
hotel rooms
Clean
BILLIONhands40
Make
of the world’s processed food safe
16%
Conserve
28 TRILLIONBTUs of energy
21
206 BILLION
Save
gallons of water
Reduce
3.3 BILLION pounds
Preventmore than
1 MILLION foodborne
illnesses
greenhouse gas emissions
2222
STRONG FINANCIAL POSITION
®
23
$1,662
1,020
400
750 750
458
250
250
500 500
700 627 627
-
250
500
750
1,000
1,250
1,500
2021 2022 2023 2024 2025 2026 2027 … 2030 … 2041 … 2046 2047
$M
Pre-Nalco
Transaction
* * * *
Resilient Free Cash Flow Cash on Hand and Term Debt Maturities
Solid Cash Position and Priorities
▪ Interest / Debt
▪ Remain committed to our dividend
▪ CapEx reduced by 50%
▪ Ample liquidity
* Excludes voluntary pension contributions
vTerm Debt
WAC: 3.47%
WAM: 9.2 years
~90% Fixed
Cash
Strong Financial Position
23
Liquidity
▪ Confident in delivering positive FCF in all modeled scenarios
▪ Revolver capacity $2.0B, $1B commercial paper outstanding
▪ Covenant: 3.5x EBITDA/Interest, ~16.3x at 03/31/20
▪ Additional A/R write-off risk in prior downturns ~0.3% of sales
▪ ~$1.7B cash on hand
Ecolab: A Cash and Return Machine
$9B Cumulative Cash Returned 2009-2019Increased cash
dividend for
28 consecutive
years
Total Returns
2009-2019
$5B SHARES REPURCHASED
$4BDIVIDENDS TO
SHAREHOLDERS
($ Billions)
$0.3 $0.4 $0.6 $0.9 $1.1
$1.5 $1.9
$2.3 $2.7
$3.2 $3.8
$0.4 $0.7
$1.4
$1.6
$1.9
$2.4
$3.1
$3.9
$4.5
$5.0
$5.3
$0.7
$1.1
$2.0
$2.5 $3.0
$3.8
$5.0
$6.1
$7.2
$8.2
$-
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
$9.0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Common Dividends Paid Shares Repurchased
24
24
$9.1
25
SUMMARY®
26
ECOLAB SUMMARY
GLOBAL LEADER WITH SMALL SHARE OF $130+B, GROWING MARKET
$117+ Billion Remains to be Sold
SERVING FUNDAMENTAL, GLOBAL AND INCREASINGLY COMPLEX LONG-TERM NEEDS
Water, Food Safety, Energy, HAI Prevention, Sustainability
POWERFUL, PROVEN STRATEGY TO DRIVE TOP-LINE GROWTH
Circle the Customer – Circle the Globe, High Recurring Revenue
MULTIPLE OPPORTUNITIES FOR NEW GROWTH
Geographic and Market Expansion, Emerging Businesses, Bolt-on M&A
SIGNIFICANT MARGIN IMPROVEMENT WORK UNDERWAY
Simplification, Scale, Leverage, Process Efficiency
SUBSTANTIAL COMPETITIVE ADVANTAGE
Scale, Global Reach, Product Technology, Corporate Accounts, Sales/Service Force, Field Technology, Brand Name, Data and Actionable Insights
STRONG AND CONSISTENT FINANCIALS, FREE CASH FLOW, RETURNS
Strong Business Model For Consistent, Superior Growth
Market data reflects current estimates of
potential opportunities
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