Oil-Dri Corporation of America East Coast IDEAS Conference June 23, - PowerPoint PPT Presentation

Oil-Dri Corporation of America East Coast IDEAS Conference June 23, 2020

Cautionary Statements Regarding Forward-Looking Information Except for the historical information contained herein, certain of the matters discussed in this communication constitute “forward -looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “outlook,” “forecast,” “would,” “could,” “should,” “project,” “intend,” “plan,” “continue,” “seek,” “estimate,” “anticipate,” “believe,” “may,” “will,” “target,” “assume” and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding anticipated future financial and operating performance and results, and estimates for growth overall and in particular business lines. These statements are based on the current expectations of management of Oil- Dri Corporation of America (“the Company”) . There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this presentation, and we encourage you especially to review the ones that were identified in Item 1A (Risk Factors) of the Company’s most recent Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission. Other unknown or unpredictable factors could also have material adverse effects on future results, performance or achievements of the Company. You are cautioned not to place undue reliance on forward-looking statements in this presentation. Except to the extent required by law, the Company does not have any intention or obligation to update publicly any forward-looking statements contained in this presentation, whether as a result of new information, future event, changes in assumptions, or otherwise. 2

Introduction Daniel S. Jaffee President & Chief Executive Officer 3

Unlocking the Value of Lightweight Litter Jessica Moskowitz VP, General Manager Consumer Products Division 4

Strong YTD Growth Across Product Portfolio Cat’s Pride Private Label Jonny Cat 5

Oil-Dri is Positioned to Win with Pet Parents Creating value through Elevating product quality Decades of doing good for vertical integration and packaging pets and pet parents 6

Creating value through vertical integration Chicago HQ + Innovation Mounds Taft Ripley 35 70 Ochlocknee Blue Mountain lbs/ft 3 lbs/ft 3 Lightweight Clay Heavyweight Clay (Calcium Bentonite) (Sodium Bentonite) Same Uses – Less Weight • Mined in CA, MS, IL, and GA • Mined in SD and WY • Oil- Dri’s locations in each region 7

Creating value through the power of Lightweight Value for our Pet Parents Value for our Environment Private Label Lightweight Litter 8

Elevating our Packaging and Products 9

Elevating Quality of Product Portfolio BACTERIAL TRIPLE ODOR PROTECTION ODOR HYPOALLERGENIC URINE, FECES, & AMMONIA CONTROL 10

Focus on Growth Channels and E-Commerce E-Commerce Channel up over 70% YTD 2020 through Q3 11

Decades of Doing Good for Shelters in Need 12

Improving livestock health and productivity through sorbent minerals Flemming Mahs President, Amlan International 13

\ Developing solutions that support livestock growth the way nature intended. 14

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Thermal Activation Technology Opal Lepispheres Chemically Bound Bacterial Toxin Oil-Dri Mineral Mineral Post Activation Sheet-like Layer of Activated Mineral 16

Our Opportunity Global trend to Growing demand for Proven solution reduce antibiotic animal protein produced utilizing patented following ‘No Antibiotics growth promoters technology Ever’ practices 17

Feed Additive Animal Health $15B $32B MARKET MARKET Mycotoxin Control In Feed Antibiotic Amlan Amlan $1.1B $0.47B Market Market Poultry Share Share 3.0% 0% 18 Source: 2019 Annual Feed Survey

Building Our Global Market Share Adding Adding Teammates Offices Existing Distribution Points Current Offices 19

For more information, please visit: 20

Financial Results Susan Kreh Chief Financial Officer 21

Net Sales (millions) CAGR 3.2% (FY 02 - FY 19) $300 $277 $266 $266 $262 $262 $261 $251 $250 $241 $236 $232 $227 $219 $218 $212 $207 $205 $200 $188 $186 9 mos. 4/30/19 $173 $162 $150 $100 22

Tons Sold (thousands) CAGR -1.8% (FY 02 - FY 19) 1100 1032 1028 1026 1022 1014 990 982 967 899 877 869 900 844 836 821 795 767 758 742 700 584 566 9 mos. 4/30/19 500 300 23

Net Sales Per Ton CAGR 5.0% (FY 02 - FY 19) $400 $359 $365 $374 $342 $330 $313 $305 $304 $300 $285 $261 $244 $244 $226 $216 $202 $190 $200 $180 $169 $158 $100 24

Gross Profit Per Ton CAGR 6.5% (FY 02 - FY 19) $115 $103 $97 $97 $100 $96 $87 $85 $81 $72 $70 $68 $70 $58 $55 $55 $51 $47 $45 $42 $41 $38 $40 $35 $30 $25 25

Paid Dividends Per Share CAGR 5.8% (FY 02 - FY 20) $1.10 $1.00 $0.96 $0.92 $0.88 $0.90 $0.84 $0.80 $0.76 $0.72 $0.68 $0.70 $0.64 $0.60 $0.56 $0.52 $0.47 $0.48 * $0.50 $0.43 $0.36 $0.36 $0.39 $0.30 $0.10 26 *On June 6, 2006, ODCA Board of Directors announced a 5:4 stock split of all Common and Class B stock. Dividends paid in FY07 and beyond include the increased number of shares outstanding as a result of the split.

ODC Closing Share Price (As of July 31) CAGR 11.0% (FY 02 - FY 19) $45.00 $41.36 $42.50 $40.00 $37.45 $37.39* $35.43 $35.00 $31.86 $29.17 $30.00 $26.26 $25.00 $21.88 $20.69 $21.93 $20.00 $15.98 $16.68 $17.22 $15.75 $13.11 $14.42 $15.00 $9.56 $10.00 $6.00 $5.00 27 *As of April 30, 2020

Earnings Per Share CAGR 8.8% (FY 03 - FY 19) $2.50 $2.07 $2.00 $1.87 $1.67 $1.69 $1.59 $1.47 $1.50 $1.25 $1.33 $1.30 $1.26 $1.17 $1.09 $1.11 $1.00 $0.88 $0.85 $0.73* $0.68 $0.43 $0.50 $0.00 -$0.16 -$0.50 28 *On June 6, 2006, ODCA Board of Directors announced a 5:4 stock split of all Common and Class B stock. FY02 – FY05 share counts have been restated to reflect the stock split.

Outstanding Debt (millions) $40.0 $35.2 $34.3 $35.0 $33.3 $31.4 $31.2 $29.7 $30.0 $27.4 $27.1 $25.9 $25.0 $23.3 $22.4 $21.5 $18.9 $18.3 $20.0 $15.4 $15.0 $12.2 $9.2 $10.0 $6.1 $5.0 $3.1 $0.0 29

Closing Remarks Daniel S. Jaffee President & Chief Executive Officer 30

Contact Information www.oildri.com Investor Relations Corporate Office Leslie Garber 410 N. Michigan Avenue Manager, Investor Relations Suite 400 (312) 706-3299 Chicago, IL 60611 InvestorRelations@oildri.com (312) 321-1515 31