1 Forward-Looking Statements The following presentation contains - - PowerPoint PPT Presentation

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2 The following presentation contains “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical facts but instead reflect our expectations concerning future results or events, including our expectations for our spin-off of the household products business, our growth, new product launches and strategic initiatives, including restructurings, and our outlook for future financial, operational or

• ther potential or expected results. These statements are not guarantees of performance and are inherently subject to known and unknown risks and assumptions that

are difficult to predict and could cause our actual results, performance or achievements to differ materially from those expressed in or indicated by those statements. The forward-looking statements included in this presentation are only made as of the date of this document and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including:

• Whether the spin-off of the Household Products business is completed and the timing of any such spin-off;
• Whether the operational, marketing and strategic benefits of the spin-off can be achieved;
• General market and economic conditions;
• Market trends in the categories in which we operate;
• The success of new products and the ability to continually develop and market new products;
• Our ability to attract, retain and improve distribution with key customers;
• Our ability to timely execute strategic initiatives, including restructurings, in a manner that will positively impact our financial condition and results of operations

and does not disrupt our business operations;

• The impact of strategic initiatives, including the planned spin-off of the Household Products business as well as restructurings, on our relationships with

employees, customers and vendors; In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of any such forward-looking statements. The list of factors above is illustrative, but by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent

• uncertainty. Additional risks and uncertainties include those detailed from time to time in ENR’s publicly filed documents, including its annual report on Form 10-K for

the year ended September 30, 2014 and the Form 10-Q for the quarter ended December 31, 2014..

Forward-Looking Statements

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Trademarks and Brands We use “Energizer” and the Energizer logo as our trademarks. Product names and company programs appearing in this presentation are trademarks of Energizer Holdings, Inc. or its subsidiaries. This presentation also may refer to brand names, trademarks, service marks and trade names of other companies and organizations, and these brand names, trademarks, service marks and trade names are the property of their respective owners. Market and Industry Data Unless we indicate otherwise, we base the information concerning our industry contained in this presentation on our general knowledge of and expectations concerning the industry. Our market position and market share are based on our estimates using data from various industry sources and assumptions that we believe to be reasonable based on our knowledge of the industry. We have not independently verified data from industry sources and cannot guarantee its accuracy or completeness. In addition, we believe that data regarding the industry and our market position and market share within such industry provides general guidance but is inherently imprecise. Regulation G – Non-GAAP Financial Measures For full reconciliation of non-GAAP financial measures, visit www.energizerholdings.com About Energizer, Investor Relations, Presentations

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Ward Klein

Chief Executive Officer

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Energizer Holdings, Inc.

• Net Sales FY 2000

$1.9 billion

• Segment Profit FY 2000

$436 million

• Share Price 4/3/2000

$21.25

SPUN-OFF FROM RALSTON PURINA IN MARCH 2000 Fiscal Year Ending September 30, 2000

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Financial Strategy

• Optimize battery business performance
• Generate strong cash flow
• Make opportunistic acquisitions

– SWS - utilize strong cash flows from battery and diversify into global categories that respond to innovation – Playtex – portfolio of #1 and #2 brands that expanded personal care holdings and leveragable scale – Edge - #1 shave prep brands in North America, strong commercial synergies – ASR - leading private label razor and blade manufacturer in the world – J&J FemCare - North America feminine pads and liners. Combined with PYX tampons creates a strong fem care business in North America

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Financial Strategy

• Optimize battery business performance
• Generate strong cash flow
• Make opportunistic acquisitions
• Return cash to shareholders

– Opportunistically repurchased 56.8 million shares at an average price

• f $48.60/share

– Initiated a dividend policy with total payments of $286 million

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EHI – Financial Results

0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 2000 2014

Net Sales

$1.9 billion $4.4 billion

Over $3 billion in Cash Returned to Shareholders

Billions

Net Sales 6.2% Segment Profit 5.6% Adjusted EPS 11.0% TSR 12.5% CAGR

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Why Split

• Achieved Critical Mass on Both Businesses
• Focus on Distinct Commercial Opportunities
• Customize Allocation of Financial Resources
• Sharpen Management Focus
• Create Independent Equity Currencies

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Separation Objectives

• Firmly establish both businesses for success

– Strong capital structures – Positive business momentum in both businesses

• Emphasis on innovation
• Strong brand building spending
• Lean go-to-market footprints
• Effect spin by July 1, 2015

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Separation Status

• Project is complex

– Two comparably sized companies integrated outside the U.S. – Companies in over 50 countries, 6 continents – Restructuring, as a part of the spin, to right size the global footprint

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Separation Status

• Project is complex
• Proceeding as planned

– Announced April 30, 2014 – Geographic footprint defined – Leadership selected in 2014 – Form 10 filed on February 6, 2015 – Capital Structure to be finalized by May – Investor meetings planned for June – Split targeted for July 1, 2015

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Introduction of New CEO’s

• David Hatfield, CEO of Remain Co, existing Personal Care business
• Alan Hoskins, CEO of Spin Co, existing Household Products business

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David Hatfield

CEO of Remain Co, existing Personal Care business:

• Over 29 years with Energizer
• President and CEO, Energizer Personal Care since 2007
• Previous positions include:

– Executive Vice President and Chief Marketing Officer, Energizer Battery from 2004 to 2007 – Vice President, North American and Global Marketing, from 1999 to 2004

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Alan Hoskins

CEO of Spin Co, existing Household Products business:

• 33 years with Energizer
• President and CEO of the Household Products Division since 2012
• Previous positions include:

– Vice President, Asia-Pacific, Africa and Middle East 2008 to 2011 – Vice President, North America Household Products Division from 2005 to 2008

PERSONAL CARE

David Hatfield, CEO

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Energizer Personal Care: Who We Are

 Leading pure-play personal care

company

 Presence in attractive categories

—Wet shave —Sun care —Feminine care —Infant care

 Multi-national; Strong position

in large and developed markets

Business Mix1 Revenue: $2.6 billion

61% 16% 16% 5% 2% Wet Shave Sun and Skin Care 60% 18% 13% 7% 2% US & Canada EMEA Asia Latin America Feminine Care Infant Care Other Other 17

We Operate in Attractive Consumer Categories

 Global categories forecasted to grow (Euromonitor FY13-16)

—Wet Shave: +2% —Sun care +4%

 US Categories rebounding recently (Nielsen 1/10/15)

Manual Shave Sun Care Fem Care Shave Preps Baby Care Total EPC Categories

L12W

• 0.1%

4.9% 1.1% 3.7% 2.8% 1.2% L52W

• 2.1%

0.4% 1.2%

• 0.1%
• 1.8%
• 0.5%

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We Have Strong Brands and Competitive Positions

Category Brands Key Geographies Rank Wet Shave

 US, Canada, Japan,

Germany #2 Globally Sun and Skin Care

 US, Mexico, Australia

#1 Feminine Care1

 US and Canada

#2,3 Infant Care

 US and Canada

#1

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Organic growth and M&A have fueled topline over time

500 1000 1500 2000 2500 3000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Net Sales

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Leadership Team Brings Experience and Continuity

 Executive Chairman of the Board: Ward Klein — Brings 35+ years of experience in the consumer products industry, including 10 years of experience as the CEO of Energizer Holdings. He has overseen EPC since 2004.  CEO: David Hatfield — Brings 29 years of experience in the consumer products industry, primarily in marketing, global and strategic management roles. He has served as CEO of EPC since 2007.  CFO: Sandy Sheldon — Brings 29 years of experience at Energizer and Ralston Purina and is currently serving as the VP Finance for Energizer Holdings. She has served in EPC since 2004 and as VP Finance, EPC has been instrumental in all of its acquisitions including Schick-Wilkinson Sword.  Leadership team — Diverse team with extensive CPG experience. — 7 of 9 have been with EPC since before 2007.

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Looking Forward- Mission Remains:

Challenge To Win

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• Accelerate growth across categories
• Systematic Cost Reduction
• Continued disciplined approach to acquisitions
• Substantial free cash flow to enable investments and capital return

Edgewell: Value Drivers

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• Accelerate growth across categories

– Meaningful Investment against Growth Brands – Maintain Strong Innovation Roadmap – Leverage Full Product Portfolio – Continue International Expansion

Edgewell: Value Drivers

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• Accelerate growth across categories

– Meaningful Investment against Growth Brands – Maintain Strong Innovation Roadmap – Leverage Full Product Portfolio – Continue International Expansion

Edgewell: Value Drivers

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Edgewell Value Drivers: Innovation

$- $50 $100 $150 $200 $250 $300 $350 $400 $450

Hydro Franchise Retail Sales (US$ Million)

Men's Women's Disposables

$298 $375 $405

Source: AC Nielsen Global Track, 28 Markets Launch Sensitive Launch Sensitive & Groomer Launch Power Select Launch 27

• Addresses key unmet needs of active consumers
• High performance technologies from the J&J acquisition
• Strong performance equity of the Playtex Sport brand

Introducing Playtex Sport Pads and Liners

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Introducing Playtex Sport Combo Packs- highly unique and appealing to consumers

“I like that everything I need would be in one box and it would fit my active life.’” Tampons+ Pads Tampons+ Liners “I love the combo pack. That is incredibly unique, and I usually need to use both during my cycle ”

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Innovation Drives Razor and Blade Core Brands in F15

The only 2-in-1 razor and trimmer! Launching in North America and Asia Pacific Trade up with our best X3 performance ever. Launching in North America, Asia Pacific and Europe A citrus infused scent brings the revitalizing trend to the Intuition

• line. Launching in

North America, Japan

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Sun Care 2015 New Products

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• Accelerate growth across categories

– Meaningful Investment against Growth Brands – Maintain Strong Innovation Roadmap – Leverage Full Product Portfolio – Continue International Expansion

Edgewell: Value Drivers

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Leverage Full Portfolio

Blade Count / Performance Price

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• Accelerate growth across categories

– Meaningful Investment against Growth Brands – Maintain Strong Innovation Roadmap – Leverage Full Product Portfolio – Continue International Expansion

Edgewell: Value Drivers

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• Sizable Presence in Developed

Markets

• Track record of Growth in

Developing Markets

• Significant opportunity remains

in developing markets with renewed focus on investment and channel strategy

International Expansion and Growth

Developing Markets Growth1

7.0% 17.0% 9.0%

0% 5% 10% 15% 20% 25% Shave Sun EPC

Net Sales CAGR 2008 - 2014

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Edgewell: Value Drivers

• Accelerate growth across categories
• Systematic Cost Reduction
• Continued disciplined approach to acquisitions
• Substantial free cash flow to enable investments and capital return

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Edgewell: Value Drivers

• Accelerate growth across categories
• Systematic Cost Reduction
• Continued disciplined approach to acquisitions
• Substantial free cash flow to enable investments and capital return

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Edgewell: Value Drivers

• Accelerate growth across categories
• Systematic Cost Reduction
• Continued disciplined approach to acquisitions
• Substantial free cash flow to enable investments and capital return

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Substantial free cash flow to enable investments and capital return

100 200 300 400 500 600 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Segment Profit ($mm)

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HOUSEHOLD PRODUCTS

Alan Hoskins, CEO

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We’re well positioned to deliver value to shareholders

Strong foundation to build on for the future Good momentum heading into our spin-off Focused on delivering long-term shareholder value

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Our business is built on strong global, iconic brands

• Strong consumer preference for trusted

brands in category

• Recognized icons that connect with

billions of consumers around the world … brands consumers know and love

• Opportunity to leverage our brand

equities to new products/licensing options

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• Premium Alkaline
• Lithium
• Performance Alkaline
• Rechargeable
• Value Alkaline
• Carbon Zinc
• Specialty Batteries
• Lighting products

Our broad portfolio of products by brand and segment

Established Broad Product Portfolio Uniquely positioned brands and product portfolio to compete in all consumer segments

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Our Energizer and Eveready brands are #1 or #2 globally

Our products are sold in over 140 markets around the world

Value share in country USA=32% CAN=39% MEX=30% COL=41% ARG=54% MAL=75% AUS=71% NZL=72% SING=77% KOR=47% HK=41% GB=21% FRA=27% ITA=30% GRE=56% EGP=82%

49 51

59 41

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2% 3% 3% 4% 5% 7% 13% 18%

Battery category driven by devices and demographics

Large Installed Base of Over 1 Billion Devices*

Top 20 Devices = ~55% of Battery Consumption

Emerging Device Categories

Home Automation Medical Fitness

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We create joint value for our channel partners

• Battery category is one of the

largest and most profitable at retailers

• Batteries can be found in more

than 80% of all U.S. households

• Batteries provide healthy margins

and are a basket builder for retailers

High Household Penetration Basket Builder Profitable Large Scale

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We generate meaningful free cash flow

• Healthy Gross Margins
• Successful Reductions in

Working Capital

• Low Capital Expenditure

Requirements

• Strong Free Cash Flow

5.2 6.2 6.3 7.2 7.4 9.8 10.4 12.6 14.0

5 10 15 Peer 8 Peer 7 Peer 6 Peer 5 Peer 4 Peer 3 Peer 2 EHP* Peer 1

Energizer Household Products Free Cash Flow % Sales

(prior fiscal three-year average)

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We’re well positioned to deliver value to shareholders

Strong foundation to build on for the future Good momentum heading into our spin-off Focused on delivering long-term shareholder value

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Three core strategies focused on delivering value Reinvest in the Business

Lead Innovation Operate with Excellence Drive Productivity Gains

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Leader in innovation with a history of world’s “firsts” … with more to come in the future

Energizer Max with Power Seal Technology

Long lasting and maintains superior in-device leakage protection

Energizer Ultimate Lithium

The world’s longest-lasting AA and AAA batteries in high-tech devices

Energizer EcoAdvanced

The world's first AA battery made with 4% recycled batteries and our longest-lasting alkaline launched 2/3/15

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We’ve increased investment behind our brands

• Investing behind our brands

and supporting innovation are critical components of

• ur future success

5.3% 6.3% 6.6%

2012 2013 2014

Household Products Global Advertising & Promotion Spend (as % of Sales)

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We’re building our business via quality distribution and investment in effective category fundamentals

Optimize our broad, diversified distribution Maximize visibility, location and mix in the store

Sporting Goods Online DIY Hobby/ Craft

Office Auto Home Center Dollar Club Food/ Drug/ Mass

Traditional Trade

Military

Energizer

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We’ve significantly reduced working capital to improve cash flow

• Reduced working capital

requirements by 10.2 percentage points since 2011, essentially freeing up over $185 million in cash

• Significant improvements

in DSO and DPO

Household Products Working Capital as a % of Sales (average trailing four quarters)

12.7% 15.8% 20.0% 22.9% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 2014 2013 2012 2011

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We continue to drive productivity gains to enhance our strong margins

• Adjusted manufacturing

footprint

• Streamlined global supply

chain

• Created center-led

purchasing function

• Rationalized and

streamlined product portfolio and centralized the marketing organization

2011 2012 2013 2014 41.9% 46.2%

Household Products Gross Margin

(% of sales)

Through FY14

• Est. Total Project

Household Products Restructuring Savings

(in $ millions) + 90 bps + 200 bps

$185 $200

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We’re well positioned to deliver value to shareholders

Strong foundation to build on for the future Good momentum heading into our spin-off Focused on delivering long-term shareholder value

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Seasoned executive team with a wealth of experience

• Chairman of the Board: Pat Mulcahy

– Brings 40+ years of experience in the consumer products industry, and 20 years of experience as the former CEO of the battery business. He has served as Chairman of the Board of Energizer Holdings since 2007.

• CEO: Alan Hoskins

– Brings 33 years of experience at Energizer, with a wealth of global sales, marketing and operational experience. Alan previously led the North America and Asia-Pacific

• divisions. He has served as CEO of the battery business since 2011.
• CFO: Brian Hamm

– Brings 17 years of experience in the consumer products industry, currently serving as the Controller and Chief Accounting Officer. Led the enterprise-wide restructuring effort and was a driving force behind the Working Capital improvement initiative.

• Leadership team

– Diverse team with extensive global battery and CPG experience.

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As we prepare for the spin-off, we are focused on …

• Building on the momentum of our three

core strategies

• Adapting global go-to-market footprint to

adjust to the future strategies and scale of the business

• Centralizing certain back-office functions to

increase efficiencies

• Outsourcing certain non-core transactional

activities

• Evaluating further productivity

improvements

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(ENR)

We will be prudent stewards of capital

Maximize Free Cash Flow Reinvest in

• ur

business Return of capital Selective, Disciplined M&A Deliver VALUE

Our Foundation Pillars to our Success Relentless focus on delivering value to

• wners, customers and

colleagues

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We’re well positioned to deliver value to shareholders

Strong foundation to build on for the future Good momentum heading into our spin-off Focused on delivering long-term shareholder value

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Q&A

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