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Transformation

November 2017
Forward Looking Statements
and Non-GAAP Information

Forward Looking Statements:


Certain written and oral statements made by our Company and subsidiaries of our Company may and flu season and other related factors, our dependence on foreign sources of supply and foreign
constitute "forward-looking statements" as defined under the Private Securities Litigation Reform Act of manufacturing, and associated operational risks including, but not limited to, long lead times, consistent local
1995. This includes statements made in this presentation. Generally, the words "anticipates", "believes", labor availability and capacity, and timely availability of sufficient shipping carrier capacity, risks to the
"expects", "plans", "may", "will", "should", "seeks", "estimates", "project", "predict", "potential", "continue", Nutritional Supplements segment associated with the availability, purity and integrity of materials used in the
"intends", and other similar words identify forward-looking statements. All statements that address manufacture of vitamins, minerals and supplements, the impact of changing costs of raw materials, labor and
operating results, events or developments that we expect or anticipate will occur in the future, including energy on cost of goods sold and certain operating expenses, the geographic concentration and peak season
statements related to sales, earnings per share results, and statements expressing general expectations capacity of certain U.S. distribution facilities increases our exposure to significant shipping disruptions and
about future operating results, are forward-looking statements and are based upon our current added shipping and storage costs, our projections of product demand, sales and net income are highly
expectations and various assumptions. We believe there is a reasonable basis for our expectations and subjective in nature and future sales and net income could vary in a material amount from such projections,
assumptions, but there can be no assurance that we will realize our expectations or that our assumptions the risks associated with the use of trademarks licensed from and to third parties, our ability to develop and
will prove correct. Forward-looking statements are subject to risks that could cause them to differ materially introduce a continuing stream of new products to meet changing consumer preferences, increased product
from actual results. Accordingly, we caution readers not to place undue reliance on forward-looking liability and reputational risks associated with the formulation and distribution of vitamins, minerals and
statements. The forward-looking statements contained in this press release should be read in conjunction supplements, the risks associated with potential adverse publicity and negative public perception regarding
with, and are subject to and qualified by, the risks described in the Company's Form 10-K for the year the use of vitamins, minerals and supplements, trade barriers, exchange controls, expropriations, and other
ended February 28, 2017 and in our other filings with the SEC. Investors are urged to refer to the risk risks associated with U.S. and foreign operations, the risks to our liquidity as a result of changes to capital
factors referred to above for a description of these risks. Such risks include, among others, our ability to market conditions and other constraints or events that impose constraints on our cash resources and ability to
deliver products to our customers in a timely manner and according to their fulfillment standards, the costs operate our business, the costs, complexity and challenges of upgrading and managing our global information
of complying with the business demands and requirements of large sophisticated customers, our systems, the risks associated with information security breaches, the increased complexity of compliance with
relationships with key customers and licensors, our dependence on the strength of retail economies and new government regulations covering vitamins, minerals and supplements, the risks associated with product
vulnerabilities to any prolonged economic downturn, our dependence on sales to several large customers recalls, product liability, other claims, and related litigation against us, the risks associated with accounting for
and the risks associated with any loss or substantial decline in sales to top customers, expectations tax positions, tax audits and related disputes with taxing authorities, the risks of potential changes in laws in
regarding any proposed restructurings, our recent and future acquisitions or divestitures, including our the U.S. or abroad, including tax laws, regulations or treaties, employment and health insurance laws and
ability to realize anticipated cost savings, synergies and other benefits along with our ability to effectively regulations, and laws relating to environmental policy, financial regulation, transportation policy and
integrate acquired businesses or separate divested businesses, circumstances which may contribute to infrastructure policy along with the costs and complexities of compliance with such laws, and our ability to
future impairment of goodwill, intangible or other long-lived assets, the retention and recruitment of key continue to avoid classification as a controlled foreign corporation. We undertake no obligation to publicly
personnel, foreign currency exchange rate fluctuations, disruptions in U.S., U.K., Euro zone, and other update or revise any forward-looking statements as a result of new information, future events or otherwise.
international credit markets, risks associated with weather conditions, the duration and severity of the cold

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HELE Business Overview
A leading global consumer products Highly Favorable Business Fundamentals
company offering creative solutions for
its customers through a strong Powerful Global Brands
diversified portfolio of well-recognized
and widely-trusted brands in Health & Exciting Growth Drivers
Home, Beauty, Housewares and
Nutritional Supplements. Highly Attractive Business Economics

Health & Home Housewares Beauty Nutritional


41.2% 27.2% 23.1% Supplements
of total of total of total 8.5%
Net Sales* Net Sales* Net Sales* of total
Net Sales*
* Based upon FY 17 Consolidated Net Sales Revenue

3
Track Record of Sustained Growth
FY17 Highlights
$1,546 $1,537
$1,445 • Revenue -0.5%; over base of +7% in FY16
$1,288 $1,317 • Adj. operating margin +0.4 percentage
Net Sales
points
($ in Millions)
• Adj. diluted EPS +7.7%
FY 13 FY 14 FY 15 FY 16 FY 17
• Cash flow from operations +22%
• Inventory reduction of -4.1%
$238
$232 • Debt ratio down to 2.1X from 2.95X end of
$220 FY16
Adjusted EBITDA
$195 • Made accretive acquisition
($ in Millions) $190
• Returned capital through ~$75MM share
FY 13 FY 14 FY 15 FY 16 FY 17 buy-back

$6.73
Three Year Performance
$6.25
$5.85 Since New Strategic Plan in FY15
Adjusted • Sales: +16.7%
Diluted EPS $4.47 $4.50 • Cash from Operations: +48.2%
FY 13 FY 14 FY 15 FY 16 FY 17 • Adjusted diluted EPS: +49.6%
Throughout this presentation we refer to certain GAAP and non-GAAP measures used by management to
evaluate financial performance. Please see explanation of certain terms and measures and reconciliations
of Non-GAAP financial measures in the Appendix section.
* Source: Helen of Troy

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Launched New Transformational Strategy in FY 15

Transformation

5
Efficient, Collaborative Operating Structure
Transforming from Holding Company to Operating Company

FY 2014 Today

Improved Performance
Corporate
& Support
Services

Supplements
Housewares

Nutritional
& Home

Beauty
Health
Healthcare
& Home Beauty Housewares
Environment Global Shared Services Platform
Strategic Plan
Culture

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Comprehensive Strategy and Operating Model

Transformational More Efficient and World Class


Strategy Collaborative Brands
Operating Structure
Improved Performance

+ +

Supplements
Housewares

Nutritional
& Home
Health

Beauty
Global Shared Services Platform

Strategic Plan
Strategic Plan
Culture
Culture

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With Proven Ability to Acquire
and Integrate in Attractive Sectors
• FY17 Net sales of $1.537 B: built from acquisition and organic growth
• Bolting On: success adding new categories, geographies and channels
• Tucking In: new brands and adjacencies for additional growth
• Right Balance: of integration and independence

2003 2004 2007 2008 2009 2010 2010 2011 2014 2015 2016

Health & Home Housewares Beauty Nutritional Supplements


FY17 Net Sales: $632.7 MM FY17 Net Sales: $418.1 MM FY17 Net Sales: $355.8 MM FY17 Net Sales: $130.5 MM

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Disciplined Acquisitions are Core to Our Strategy
Select M&A Criteria
1 Favor brands with #1 or 2 Accretive to cash flow and 3 Enhances revenue growth 4 HELE likely to add value and
#2 market position Adjusted Diluted EPS and sweetens the mix operational efficiency

• Leading market share in category, or • Accretive to earnings (in one or two years). • Enhances revenue growth. • Delivers complementary scale or
• Leading position in niche, uniquely • Impact of synergies. • Accretive to gross margin. scalability across our shared
differentiated subcategory. • Return hurdle rate exceeds cost of • Accretive to EBITDA margin. services to leverage and enhance
capital. efficiencies across sourcing,
purchasing, distribution,
warehousing, logistics, marketing,
R&D and other fixed costs.

5 HELE can accelerate growth 6 Bias toward high margin, 7 Global potential
of acquired business proprietary consumables

• Target business at inflection point, • High frequency, disposable products. • Participating in categories with universal
requiring additional resources, • Razor and blade model/recurring appeal or relevance.
expertise and/or capital to accelerate revenue stream. • Evidence of geographic and cultural
growth. Target offers clear white space • Participation in attractive categories. portability.
for growth in core HELE channels, • Relatively few entrenched competitors.
geographies or adjacent categories. • Global supply chain/transportation, etc.

• Tax implications • Acquisition currency • Cost structure and synergy potential


Other • Consumer trends • Pro forma leverage • Regulatory issues
considerations • Economic outlook • New channel or geography expansion • Category competitiveness

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We Leverage the Power of World Class Brands
Licensing Is A Core Competency
World Class Brands World Class Licensors World Class Partnerships
• P&G: One of the oldest,
largest, and most global
trademark licensees
• Honeywell: Largest and most
global licensee
• Revlon’s largest and most
global licensee
• Strong Unilever licensing
portfolio
• Long-term deals on the
majority of licenses

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Our Brands Hold Strong Leadership Positions

Business Unit Leadership Brand Category Rank


Health & Home
Criteria
Consumer Ear Thermometers #1
Professional Ear Thermometers #1 ~ 70% of
HOT
Differentiated Faucet Mount Purifiers #1
1 Market Leader
Net Sales
Pitcher Purifiers #2
Pharmacy Humidifiers #1 FY 18 YTD
2 Higher Margin up 7.9% vs.
Air Purifiers #1
YAG*
Growth Housewares
3 Adjacencies Premium Kitchen & Home Gadgets #1 Higher Profit
Outdoor Thermal Hydration #1 Contributors
4 Asset Efficient Beauty
Stylist Preferred U.S. Professional Curling Iron #1

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We Partner With a Diversified Blue Chip Customer Base

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Highly Experienced Leadership Team
CEO
Julien Mininberg

Chief Legal
Chief Chief Chief Chief Corporate President President
Officer and President President
Financial Supply Chain Information People Business Health Nutritional
External Housewares Beauty
Officer Officer Officer Officer Development & Home Supplements
Relations
Vince Brian Jay John Lisa Jack Larry Jon Ron Ben
Carson Grass Caron Conklin Kidd Jancin Witt Kosheff Anderskow Tiecher

Global Shared Services Global Business Segments

Global Leadership Council (GLC)

Global Leadership Council (GLC)


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Outstanding Cash Flow and Financial Flexibility

Growth Productivity

Delivering

Strong Operating Efficient Tax Strong Balance


Cash Flow Structure Sheet
• Parent company is registered • Healthy use of leverage
• $228.5 MM in FY2017
in Bermuda
• +$42 MM YOY increase • Financial flexibility
• Operationally efficient
• 22.5% YOY increase structure

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Creating Value for Shareholders – Improving Fundamentals

$217 $222
Adjusted Operating $206
Income $177 $183 4 YR. CAGR = 5.8%
($ in Millions)
FY 13 FY 14 FY 15 FY 16 FY 17
Adjusted Operating Margin 13.7% 13.9% 14.2% 14.0% 14.4%

$229
$187
Cash Flow from
$179 4 YR. CAGR = 27%
$154
Operations $88
($ in Millions)
FY 13 FY 14 FY 15 FY 16 FY 17
Cash Flow Productivity 63% 133% 131% 163% 148%

Adjusted Income $188


($ in Millions) $170 $180
$143 $146 4 YR. CAGR = 7.1%

FY 13 FY 14 FY 15 FY 16 FY 17
Return on Capital 11.2% 7.4% 11.1% 7.0% 9.2%
Adjusted Return on Capital 13.8% 12.6% 14.3% 12.4% 12.3%
Throughout this presentation we refer to certain GAAP and non-GAAP measures used by management to
evaluate financial performance. Please see explanation of certain terms and measures and
reconciliations of Non-GAAP financial measures in the Appendix section.

15
Creating Value for Shareholders – Cumulative Returns
Key Drivers
• Strategic Plan

• Improving Operating Performance

• Acquisitions
- March 2016: Hydro Flask

- March 2015: VapoSteam

- June 2014: Healthy Directions

• Share Repurchase
- FY17 Repurchased ~.9MM shares for ~$75MM

- FY16: Repurchased ~1.2MM shares for ~$100MM


Fiscal Year ended the last day of February
2012 2013 2014 2015 2016 2017
Helen of Troy Limited 100.00 114.09 200.95 235.75 293.42 300.62
- FY15: Repurchased ~ 4.1MM shares for ~$274MM
Peer Group Index 100.00 122.80 139.58 151.07 154.49 166.23
Nasdaq Market Index 100.00 106.52 145.21 167.30 153.69 196.33 - $394MM Authorization Remaining

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Our Capital Philosophy

Access to Capital Capital Priorities


1. Conservative Approach to Debt 1. Investments in Core Growth
2. Strong Cash Flow Generation 2. Infrastructure Investments
3. Access to Favorable Terms 3. Accretive Acquisitions
4. Capacity to Change Capital Structure 4. Opportunistic Return of Capital to
Shareholders

Capital Expenditures
$16 - $20 million expected for FY 18

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Three Months Ended August 31, 2017
Sales and Operating Margin Results by Segment
Three Months Ended August 31,
Health & Nutritional
Housewares Beauty Total
Home Supplements
Fiscal 2017 sales revenue, net $ 105,976 $ 144,453 $ 33,112 $ 84,629 $ 368,170
Core business 8,804 3,024 (1,855) (177) 9,796
Impact of foreign currency (60) 384 - 172 496
Change in sales revenue, net 8,744 3,408 (1,855) (5) 10,292
Fiscal 2018 sales revenue, net $ 114,720 $ 147,861 $ 31,257 $ 84,624 $ 378,462

Total net sales revenue growth 8.3 % 2.4 % (5.6) % 0.0 % 2.8 %
Core business 8.3 % 2.1 % (5.6) % (0.2) % 2.7 %
Impact of foreign currency (0.1) % 0.3 % 0.0 % 0.2 % 0.1 %

Operating margin (GAAP)


Second quarter fiscal 2018 20.5 % 5.2 % (64.9) % 10.8 % 5.3 %
Second quarter fiscal 2017 22.9 % 6.5 % (3.7) % 6.0 % 10.2 %
Adjusted operating margin (non-GAAP)
Second quarter fiscal 2018 22.6 % 9.6 % (0.4) % 13.5 % 13.6 %
Second quarter fiscal 2017 24.2 % 9.7 % 2.0 % 9.0 % 13.0 %

Throughout this presentation we refer to certain GAAP and non-GAAP measures used by management to
evaluate financial performance. Please see explanation of certain terms and measures and
reconciliations of Non-GAAP financial measures in the Appendix section.

18
Six Months Ended August 31, 2017
Sales and Operating Margin Results by Segment
Six Months Ended August 31,
Health & Nutritional
Housewares Beauty Total
Home Supplements
Fiscal 2017 sales revenue, net $ 190,579 $ 290,808 $ 69,052 $ 165,669 $ 716,108
Core business 16,969 8,041 (6,176) (1,294) 17,540
Impact of foreign currency (548) (722) - (459) (1,729)
Acquisitions 6,148 - - - 6,148
Change in sales revenue, net 22,569 7,319 (6,176) (1,753) 21,959
Fiscal 2018 sales revenue, net $ 213,148 $ 298,127 $ 62,876 $ 163,916 $ 738,067

Total net sales revenue growth 11.8 % 2.5 % (8.9) % (1.1) % 3.1 %
Core business 8.9 % 2.8 % (8.9) % (0.8) % 2.4 %
Impact of foreign currency (0.3) % (0.2) % 0.0 % (0.3) % (0.2) %
Acquisitions 3.2 % 0.0 % 0.0 % 0.0 % 0.9 %

Operating Margin (GAAP)


Year-to-Date Fiscal 2018 19.5 % 7.5 % (87.3) % 4.8 % 2.3 %
Year-to-Date Fiscal 2017 20.8 % 6.5 % (9.4) % 4.9 % 8.4 %
Adjusted Operating Margin (non-GAAP)
Year-to-Date Fiscal 2018 21.5 % 11.0 % (1.1) % 10.0 % 12.8 %
Year-to-Date Fiscal 2017 22.5 % 10.5 % 4.4 % 9.8 % 12.9 %

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Fiscal Year 2018 Focus

Growth Place greater investment behind Permission to Win


HELE seven Leadership Brands
1. Leadership brands with world
Further improve capability and class market positions and
Productivity efficiency through Shared Services proven growth strategies
excellence
2. Advantaged operating structure
Accelerate growth through
Acquisition acquisition 3. Differentiated, consumer centric
innovation pipeline
Continue to expand operating 4. Outstanding cash generation
Cash Flow cash flow

20
FY 2018 Strategies for Growth and Margin Expansion

Strategies
Growth Expansion
• Feed Leadership Brands • Complement durables with high margin consumables
• Selectively enter new categories • Trim lower performing products/customers
• Leverage consumer research • Develop best in class supply chain
• Invest in innovation to drive margin and revenues • Leverage economies of scale and shared services
• Accretive acquisition • Mix improvement from recent acquisitions

Operating Margin Drivers


Nutritional
Health & Home Housewares Beauty
Supplements
• Supply chain efficiencies • Supply chain efficiencies • Feed core brands with • Leverage new
• Sweeter mix of • Leverage of scale and right to win technology capabilities
healthcare and shared services • Leverage consumer • Focus on
consumables • New products with higher research category/megatrends
• New products with higher margins • Invest in innovation to • Shift resources towards
margins • Mix improvement from drive margin and digital marketing and
• Trim lower performing Hydro Flask acquisition revenues content development
product lines • Investment for category • New products with higher • Implement stronger,
• Leverage of scale and expansion and to margins proven claims
shared services maintain growth • Further scaling of DRTV
• Restore customer
acquisition investments

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Fiscal Year 2018 Focus
Accelerate advantage through a connected digital ecosystem
Grow Enhanced Digital More Connected
eCommerce Marketing Devices

13.2%*

+30%
YOY

6.4%*

FY 2014 FY 2015 FY 2016 FY 2017

* Percentage of consolidated net sales

Source: Helen of Troy

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Project Refuel
Focus on Beauty and Nutritional Supplements

• Entails a restructuring and realignment of costs:


Strategy Action
o Begins in second half of fiscal 2018
Adjust the cost structure to reflect
o Expected completion within 18 months.
1 Right Size near-term revenue and profit
expectations • Target annualized pre-tax savings of $10 million,
once implemented
Allocate resources to fit with the • High concentration of annualized savings expected
2 Reallocate in fiscal year 2019:
business strategy and improve ROI
o Approximately 75% - 85% of the savings expected to
benefit Beauty
Enhance Improve value in these businesses
3 o 15% - 25% expected to benefit Nutritional Supplements
Shareholder Value within the HOT portfolio
• Expected pre-tax restructuring charges of ~$4.0 MM
to $6.0 MM during the implementation period.

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Fiscal 2018 Outlook and Key Assumptions
FY 18 FY 18
Headwinds/Tailwinds Assumptions
Outlook Outlook by Business Segment

Tailwinds ▪ Consolidated sales growth ▪ Fiscal year 2018 net sales


FY18 Sales
▪ New product and now 1.5% to 3.1% revenue guidance range FY17 % of Growth
category introductions ▪ Normal cold/flu season vs. now $1.560 to $1.585 Sales Outlook

▪ Consumer-centric weak season in FY17 billion


Health & Home 41.2%

investment in greatest ▪ September 2017 currency ▪ Revised fiscal year 2018 MSD

opportunities rates hold for remainder of GAAP diluted EPS guidance

Business Segments
▪ Accretion and synergies year to a range of $4.01 to $4.34
Housewares 27.2%
 Now
8% to 10%
from Hydro Flask ▪ Cash flow hedges in place ▪ Reiterates fiscal year 2018
Headwinds for portion of exposure non-GAAP adjusted diluted

▪ Continued softness at ▪ Incremental investments


EPS of $6.50 to $6.90 Beauty 23.1%  MSD

brick and mortar retail YOY now approx. $0.40- ▪ Effective tax rate between
(4.6)% and (2.6)%, and Nutritional Now
$0.50/share
▪ Retailer inventory adjusted effective tax rate Supplements 8.5%  MSD
rationalization ▪ No share repurchases,
of between 9.2% and 11.2%
impairments or
▪ Foreign currency for remainder of FY18  Now
acquisitions Total 100.0% 1.5 - 3.1%

Source: Helen of Troy

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HELE Long-Term Growth Targets

Core Business* Revenue Growth Target


2%-3%/YR

Average Operating Margin* Expansion Target


30 – 40 bps/YR

Adjusted Diluted EPS* Growth Target


7%/YR

* Excludes share buybacks, acquisitions and material currency fluctuations

Throughout this presentation we refer to certain GAAP and non-GAAP measures used by management to
evaluate financial performance. Please see explanation of certain terms and measures and
reconciliations of Non-GAAP financial measures in the Appendix section.
25
In Summary...Key Investment Highlights
Powerful global brands; many market leaders

Accelerating innovation and market share

Outstanding cash flow and financial flexibility

Proven ability to acquire and integrate

New shared services infrastructure

Upgraded & elevated management talent

Transformational new strategy & culture

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Business Segments

27
Source: Helen of Troy

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A Global Branded Consumer Device and Consumable Platform
Home Environment Healthcare
Home Environment
Stinger Other Braun
Insect Control Blood Pressure
PUR
Water Filtration Braun
Thermometers
Honeywell
Humidification-Seasonal

Honeywell
Heaters
FY17: $632.8 Million Net Sales

Honeywell
Fans
Vicks
Humidification-Pharmacy

Honeywell Vicks
Dehumidifiers Thermometers
Honeywell
Air Purifiers Healthcare SoftHeat Vicks
Other Hot/Cold Therapy Vicks Vapopads
Vaposteam

Source: Helen of Troy

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Leadership
Brand

30
Leadership
Brand

Braun Thermometers Won


Three Prestigious 2017 iF Design Awards

Braun IRT 6520 Braun NTF3000

Braun PRT2000

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Leadership
Brand Braun and Vick’s Thermometer Leadership
US Thermometer $ Share

Safety 1st Mobi


Other
2.6% 2.6% Vicks
8.7%
13.9%
Exergen
7.3%

Braun
22.2%

Private Label
42.7%
36.1% Market Share

Source: 3rd party syndicated retail data, L52wks ending 3/4/17

32
Leadership
Brand Vicks and Braun Products Remain #1 Brands in the U.S.
US Humidifier $ Share “Pharmacy”
Safety1st Other
MyPurMist 2.9% 2.5%
4.2%

Crane
7.5%

Private Label
8.0%

Protec & Kaz


4.0%
Vicks
59.4%
HoT PL
11.4%

74.8% Market Share


Source: 3rd party syndicated drug trade class data L-52 weeks ending 3/4/17

33
Leadership
Brand

34
Leadership
Brand #1 Dollar Share in Air Purifiers - US
✓ Deep Consumer Understanding ✓ Product Innovation ✓ Excellent Retail and Consumer Execution

Homedics Blueair, 0.4 Hunter Sharp Other


Kenmore Alen 1% 1% 0% Bionaire 0%
1% 1%
55% 55%
Iconic Pro 0% 53%
2% Winix 49%
2%
Dyson 42%
39% 40%
5% 38%
Idylis
5% 30%
26%
Therapure
6% , 19%
15%
52.3% .

Germ Guardian, 6.8

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

= =
Holmes
13% • Honeywell share more than 3X that of closest competitor
• Febreze air purifiers launched by Helen of Troy in 2014
Febreze, 3.0

Source: 3rd party syndicated data, NPD Traqline and internal Health & Home
estimates for devices only CY 2016
35
Leadership
Brand Next Generation PUR Faucet Filtration
Launched August 2016

PUR faucet mount filters are certified to remove more contaminants than any other filter using our MAXion™ filtration system and are
the only ones certified to reduce over 70 contaminants including lead, pesticides, mercury, and more providing cleaner, healthier water.

36
Leadership
Brand PUR is Growing
Faucet Mount and Pitcher Segments L26W
Faucet Mount
Faucet System
Mount System Faucet
FaucetMount
MountRefill
Refill

Other Other
BRAND SHARE GROWTH Brita
BRAND SHARE GROWTH
Brita PUR 73.7% +1.9 PUR 84.6% +1.1
PUR Brita 26.3% (-1.6) PUR Brita 15.4% (-1.9)
Other 0.0% (-0.3) Other 0.0% (-0.2)

Pitcher/Dispenser System Pitcher/Dispenser Refill


Pitcher/Dispenser Refill

Zero
Zero Other BRAND SHARE GROWTH
BRAND SHARE GROWTH Water Other
Water
PUR Private PUR 15.1% +3.2
PUR 20.6% +5.2 Label PUR
Brita 64.5% (-2.7)
Brita 65.6% (-6.2)
Brita
Brita Private
8.7% (-2.6)
Zero Water 8.9% +0.9 Label
Zero Water 10.1% +1.1
Other 4.8% (-0.8)
Other 1.6% +1.0

Source: 3rd party syndicated data , L-26 weeks ending 8/26/17


(Does not include DIY, Online, Costco or BB&B)

37
38
Professional Business Profile Brush, Comb & Accessories

Professional Brushes, Combs & Accessories


Appliances

FY17: $355.8 Million Net Sales

Retail Appliances

Personal Care Retail Appliances

39
Leadership
Brand

40
Leadership
Brand

Reducing the time and effort needed to achieve


perfect curls, volume and movement
Designed and developed
with professionals, for professionals.

COMFORTABLE TO USE
EASY TO MASTER
GUARANTEED RESULTS

HTCURL1181 - 1”
HTCURL1110 - 1¼”

41
Leadership
Brand

Hot Tools Gold Focus and XL

42
Salon 360 Surround AC Dryer
Redefining How She Dries and Styles Her Hair
PATENT PENDING DUAL AIRFLOW SYSTEM
EXCLUSIVE 360 MODE

60% FASTER, LESS DAMAGE


Delivering 70% MORE* coverage, targeted,
70% MORE* coverage, for
downward air jets, surround each hair section
fast drying and styling, with
for a fast, smooth, but controlled, gentle blow
less damage. 60% Faster
out

SALON, SHINY LOOKING RESULTS Shipped Summer of 2017


Downward air flow, saturated with anti-frizz
ions, naturally smooths cuticle for sleek, shiny
looking, frizz-free, salon-like results

43
Shipped Summer of 2017

TM
Pro collection salon one-step
Perfect Straight Smooth Brilliance
STRAIGHT and SHINETM
Flat Iron

ADVANCED COATINGS – ADVANCED HEAT –


ADVANCED COATINGS – FASTER WORKING
ADVANCED HEAT – LESS DAMAGE FOR
LESS DAMAGE FOR HEALTHY- HEALTHY-LOOKING STYLES XL 30% longer^ for fast results with
FASTER WORKING 4X MORE^ ceramic straightening
LOOKING STYLES 3X Premium Ceramic-Coated
455oF 15 second heat up with 33% more coverage
Premium Tourmaline 3x Technology, for even heat, less
styling surface^ for faster results and 4.5X
Ceramic. Advanced coating for damage. Conditioning advanced Super
straighter*, smooth results. Ionic generator for maximum frizz
smoother surface and glide. 2X less
frizz*, 24-Hour Frizz Control*. Long- protection and shine
Lasting results.
ADVANCED DESIGN –
ADVANCED DESIGN - EASY TO USE
Multidimensional, snag-free combination 3x ceramic and detangling
EASY TO USE
straightening bristles for frizz-free, even results. Designed to get close to the
10 variable Digital LED settings, roots. Versatile ribbed exterior housing to curl and add body. 430F high heat
low friction, snag free plates, with 10 Digital LCD settings and Smart Heat Memory. Dual voltage. 20%
slim housing, and plate lock
lighter* design with soft touch housing for optimal comfort.
feature.

44
Leadership
Brand
Housewares

45
Leadership
Brand Housewares
Based Upon Universal Design: To provide products and environments that are
easily usable and comfortable for the largest spectrum of people possible.

$418 Categories

$310
$296
$274
$259
$237
$217
$199
$175
$164
$138
$128
$98

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

OXO Hydro Flask


* Proforma FY 2005 Sales – HOT acquired June 2004
Source: Helen of Troy

46
Leadership
Brand

100+ New Items Introduced at The Housewares Show

Pour-Over Kettle Thermocouple Little Salad &


Chef’s Mandolin Slicer 2.0 with Thermometer Thermometer Glass Mixing Bowls Herb Spinner 4.0

Glass Pour-Over
Microwave Egg Cooker 3 Blade Hand-Held Spiralizer Microwave Omelet Maker Microwave Bacon Crisper
Coffee Maker

47
Leadership
Brand

New Items - Glass Bake, Serve & Store Set


Features

• Pressed Borosilicate glass is more resistant to thermal


shock
• Oven, Freezer and Microwave Safe
• Bakeware heats up gently and evenly to cook food
uniformly
• Table friendly design
• Generous handle for securely moving from oven to table
• Sturdy, leak-resistant lids (8x8 and 9x13 skus only)
• Recess in lid for stacking in refrigerator and freezer
• Designed to compliment OXO Glass Food Storage
Containers
• Set includes Food Storage and Bakeware
• Glass 3 Qt Baking Dish with Lid, • 1 Cup Round SNAP Container
• Glass 2 Qt Baking Dish with Lid, • 2 Cup Round SNAP Container
• Glass Loaf Pan • 4 Cup Round SNAP Container
• Glass Pie Plate

48
Leadership
Brand
FY 2017 Cubby & Cubby Plus

Cubby Features:
• Quick and easy center pull fold
• Stands upright when folded with handlebar away from
ground
• Large, waterproof canopy with canopy extension for full
coverage
• Large basket with pull out extension for added capacity
• Convenient zip pockets for added storage

Cubby Plus Features:


Cubby features plus:
• Adjustable handlebar
• Front wheel suspension and larger wheel diameters
• Quick adjust harness system for easy adjustments

49
Leadership
Brand

50
Leadership
Brand
Hydro Flask's leading technology and design is setting
the standard for product performance within the category

Vacuum Insulation
Hydro Flasks are vacuum
insulated, which means there is an
TempShield ™
absence of matter between the two
Used in 100% of Hydro
stainless steel walls. Since there is Flask products, our
no matter, the temperature outside unique double wall Flex Cap
of the flask has minimal influence
insulation protects
on the temperature of the contents
temperature for up to 24
inside the flask
hours cold and 6 hours
Cold
2 Up to 24 Hrs. Hot Up to 6 Hrs. hot
Due to the fact that the flasks are
Powder Coating
4 The Hydro Flask product offering vacuum insulated, hot beverages stay
hot up to 6 hours and cold beverages 18/8 pro-grade stainless
includes a multitude of color 18/8
stay cold up to 24 hours steel won't retain or
choices, all of which include a
transfer flavors, ensuring
proprietary powder coat for an PRO-GRADE
the pure taste of your
easy-to-grip, sweat-free bottle you STAINLESS STEL
beverage
can take anywhere 64 oz. Wide Mouth Growler

3 18/8 Stainless Steel


5 Sweat Free All flasks are made of 18/8 Proprietary powder coat
The double wall vacuum insulation Hydro Flask 64 oz
stainless steel, BPA free and highly for an easy-grip, sweat-
prevents condensation with cold Growler receives
resistant to absorbing odor, taste free extra durable bottle
drinks. When drinking hot recognition for its
and bacteria. They are simple to you can take anywhere
beverages, the vacuum insulation Fresh Carry
clean, don't have a liner to scratch
also prevents heat from System™ cap.
and are completely recyclable
transferring outside of the Hydro
Flask, keeping the outside surface
temperature comfortable to hold

51
Leadership
Brand
Rapidly Growing Market Share
#1 Bottle Share in Sport/Outdoor and Natural Foods

2017 2017
33.1% 39.4%
#1 #1
Hydration

2016 2016
19.5% 16.7%
#2 #4

Coffee Beer Food

Sport and Outdoor Market Natural Products Industry


Latest YOY 52 weeks ending 3/18/17* Health-and-Wellness Insights (HWI)
Latest 24 weeks ending 3/19/17**

Accessories

* Source: 3rd party syndicated data , L-52 weeks ending 3/18/17


** Source: 3rd party syndicated data , L-52 weeks ending 3/19/17

52
Leadership
Brand Sold Through Diverse, Premium Sales Channels
And Where to Play: Premium Outdoor, Natural Foods and Specialty Beverage Channels in the US

Micro-
Breweries
Outdoor
Coffee
Golf / Yoga Outdoor
Corporate / Misc
CHANNEL MIX

Sporting Goods Natural Foods

Natural Foods

Micro Breweries
Military

Direct Online

Coffee
International
Direct
Sales
Sporting Goods
GEOGRAPHIC MIX

Golf & Yoga

Online
US
Wholesale

53
Leadership
Brand New for 2017 – Rocks and Tumblers

NEW PRODUCT

54
Leadership
Brand

Create a Hydro Flask that’s uniquely yours

183,456 Combinations

55
Housewares

56
Inspiring Wellness

57
Nutritional Supplements
A Leading, Direct-to-Consumer Marketer of Premium, Doctor Branded VMS Products
Anti-Aging Support
Other Blood Sugar Support
Vision Supoort
Brain/Mental Health
Sports/Energy/Weight
Gastrointestinal Health
Sleep Supoort

Sexual Health
Mood Support

Joint Health General Health

FY17: $130.5 Million Net Sales

Cold/Flu-immune

Heart Health

Source: Helen of Troy

58
Market Leading Direct-To-Consumer (“DTC”) Nutritional
Supplements Marketer
Healthy Directions is a leading DTC marketer of doctor and health nutrition expert endorsed nutritional supplements, topical skincare and other
health and wellness products. The Company’s innovative, premium products are primarily sold via digital and direct mail channels. A 25+ year
track record of quality and regulatory compliance underpins its superior customer loyalty

DTC Leader
In FYE17, Healthy Directions transformed the Company’s e-commerce platform, customer relationship
Successfully
Transformed from Direct management and order management systems to compete in the rapidly growing online VMS sector while still
Mail to Digital leveraging historical leadership in VMS direct mail

Healthy Directions’ innovative, highly efficacious supplements and topical products are based on gold-standard
Innovative, Superior clinical research and made to industry-leading quality standards by third party manufacturers driving a low-cost
Quality Products outsourced model. The Company practices a focused and disciplined product development path, launching new
products from concept to market in 9 months with robust, supportable claims

Education-Driven Content Healthy Directions has a rich library of original content across a wide range of health topics and is aggressively
and Marketing Model expanding its digital content marketing to engage new consumers in an increasingly online driven industry

Highly Respected Doctors Healthy Directions’ family of highly respected doctors and wellness experts in the natural health field engender
and Natural Health Experts trust and provide consumers with validated knowledge and product confidence

High Value Database of The Company has a multi-million customer database of customers. Healthy Directions’ average customer tenure
Loyal DTC Customers of customers is 4.5 years

Repeatable, High Margin The Company’s highly popular AutoDelivery (“AD”) subscription program is substantial and growing highly
Continuity Sales profitable

59
Doctor/Physician Recommendations are the #1 Influencer of Supplement User Purchases – 90%(1)

HEALTHY DIRECTIONS KEY HEALTH MEGATRENDS STRATEGIC NATIONALLY REPUTED EXCLUSIVE AND LONG-TERM DOCTOR BRAND
FOCUS AMBASSADORS

HEART HEALTH

Since 1995

$2.5 B market SLEEP


BLOOD SUGAR
Since 1991

$1.5 B market $569 M market


HEALTH
MEGATRENDS Since 1995

DIGESTIVE HEALTH
PAIN

Since 2012

$2.3 B market SAFE SKIN CARE $450 M market(2)

Since 2012

$3.2 B market

Since 2011
Source: Nutrition Business Journal Direct-to-Consumer Report 2016 and Euromonitor.
Note: Market sizes represent 2015 sales per NBJ.
(1) Source: NMI SORD 2015 (Capsugel Presentation).
(2) Represents topical analgesic market in the U.S.

60
Unique Education-Driven Content Marketing Model
DRTV E-NEWS VIDEOS/WEBINARS SOCIAL MEDIA WEBSITES

E-BOOKS/REPORTS MAGALOGS INSERTS CATALOGS NEWSLETTERS

61
New Order Management
and Customer Relationship Management Platform
Replaced 20+ year old order management system and customer relationship management system is expected to provide significant marketing flexibility and
increase topline through cross selling and upselling. These platforms are in the immediate post-implementation phase and are expected to deliver benefits in FYE18

CATALOG
MANAGEMENT

CROSS-SELLING LOYALTY
Involve & UP DRLLING MANAGEMENT
• Multi-channel engagement W
• Outbound quality
ENGAGE
A
BUY
N
RESEARCH
T USE
REPORTING &
SEARCH
Improve DATA
Integrate SERVICES
• Customer ANALYTICS INVENTORY
• Reporting
service MANAGEME
• Dashboard &
• Action and NT
scorecards
workflow COMMENT
management WANT
• Knowledge
base USER PERSONALIZED
MANAGEMENT SERVICES
CRM

COMPAIGN PAYMENT
MANAGEMENT SERVICES

New Order Management Key benefits: New CRM Key benefits: New eCommerce Platform Key benefits:

▪ Orders are accepted in real time using Oracle EBS ▪ Contact center agents to have 360° view of each customer ▪ New online platform will provide the ability for customers to
Warehouse Management System (WMS) that is integrated (purchase history, customer lifetime value, promotion manage their accounts, one-click ordering, significantly
with Intelligrated’s RTS pick and put-to-light system history) during the live interaction on the telephone or via improved site speed, mobile optimization, consolidation of
chat the current four web platforms, common cart, A/B testing,
▪ Greater pay method capabilities, real-time credit card significantly accelerated marketing campaign
authorization, PayPal on AutoDelivery, improved credit card ▪ New CRM system allows for dynamic call scripting, implementation delivering lower costs on digital as
processing capabilities through current processing platform improved upselling, cross-selling and overall customer compared to direct mail
provider service

62
Appendix

63
Our Global Footprint…
Canada RMO EMEA RMO
Toronto Canada Lausanne,
Housewares/ Health & Home
Hydro Flask Marlborough, MA Switzerland
Bend, OR
Shared Service Beauty
Warehouses Personal Care
Mississippi Danbury, CT
Shared Service Housewares
Center El Paso, New York City
Texas
Beauty Nutritional
Appliances Supplements
El Paso, Texas Bethesda, MD
China Shared Service Asia/Pacific RMO
Centers Hong Kong
Shenzhen & Macao
Latin America RMO
Mexico City

U.S. HQ Operating Division HQ Shared Service HQ Regional Market Org. HQ

64
To unite
all business
segments, regions,
departments and
sites

65
New Transformational Strategy

English Chinese Spanish

66
Reconciliation of Non-GAAP Financial Measures

The Company reports and discusses its operating results using financial measures consistent
with accounting principles generally accepted in the United States of America (“GAAP”). To
supplement its presentation, the Company discloses certain financial measures that may be
considered non-GAAP financial measures, such as adjusted operating income, adjusted income,
adjusted diluted EPS, EBITDA and adjusted EBITDA, which are presented in accompanying
tables to this presentation along with a reconciliation of these financial measures to their
corresponding GAAP-based measures presented in the Company’s consolidated statements of
income.

67
Reconciliation of GAAP Diluted Earnings Per Share (EPS) to Adjusted Diluted EPS (non-GAAP)
(in thousands, except per share data)

FY 13 FY 14 FY 15 FY 16 FY 17
Diluted earnings per share (EPS) as reported (GAAP) $3.62 $2.66 $4.52 $3.52 $5.04
Asset impairment charges, net of tax $0.37 $0.28 $0.18 $0.30
CEO succession costs, net of tax $0.51 $0.16
Acquisition-related expenses, net of tax $0.08 $0.02
Venezuela re-measurement related charges, net of tax $0.65
Patent litigation charge, net of tax $0.62 $0.05
Sub total $3.62 $3.54 $4.88 $5.16 $5.39
Amortization of intangible assets, net of tax $0.69 $0.64 $0.79 $0.84 $0.87
Non-cash share-based compensation, net of tax $0.16 $0.32 $0.18 $0.25 $0.47
Adjusted diluted EPS (non-GAAP) $4.47 $4.50 $5.85 $6.25 $6.73

Weighted average shares of common stock used in computing


31,936 32,386 29,035 28,749 27,891
diluted EPS (GAAP)
Dilutive impact of CEO succession costs -42
Weighted average shares of common stock used in computing
31,936 32,344 29,035 28,749 27,891
adjusted diluted EPS (non-GAAP)

68
Reconciliation of Net Income to Earnings Before Interest, Taxes, Depreciation and Amortization
(EBITDA) and Adjusted EBITDA
(In Thousands)

FY 13 FY 14 FY 15 FY 16 FY 17
Net Income $115,666 $86,248 $131,164 $101,228 $140,689
Interest expense, net $13,270 $10,128 $14,965 $10,981 $14,743
Income Tax expense $19,848 $20,886 $16,050 $18,590 $9,200
Depreciation and amortization, excluding amortized interest $34,425 $33,839 $39,653 $42,749 $44,341
EBITDA (Earnings before interest, taxes, depreciation and amortization) $183,209 $151,101 $201,832 $173,548 $208,973
CEO succession costs $18,228 $6,707
Non-cash share-based compensation charges $5,913 $14,232 $5,974 $8,483 $15,498
Acquisition-related expenses $3,611 $698
Venezuela re-measurement related charges $18,733
Patent litigation charge $17,830 $1,468
Non-cash asset impairment charges $12,049 $9,000 $6,000 $12,400
Adjusted EBITDA $189,122 $195,610 $220,417 $231,999 $238,339

69
Reconciliation of Net Income (GAAP) to Adjusted Income (non-GAAP)
(In Thousands)

70
Reconciliation of Fiscal Year 2018 Outlook for GAAP Diluted EPS
to Adjusted Diluted EPS (non-GAAP)
(Unaudited)

71
Reconciliation of Non-GAAP Financial Measures – GAAP Operating Income
to Adjusted Operating Income (non-GAAP) (Unaudited)
(in thousands)

Three Months Ended August 31, 2017


Nutritional
Housewares Health & Home Supplements Beauty Total
Operating income (loss), as reported (GAAP) $ 23,513 20.5 % $ 7,730 5.2 % $ (20,293) (64.9)% $ 9,158 10.8 % $ 20,108 5.3 %
Asset impairment charges - - % - -% 18,070 57.8 % - - % 18,070 4.8 %
TRU bankruptcy charge 956 0.8 % 2,640 1.8 % - -% - - % 3,596 1.0 %
Subtotal 24,469 21.3 % 10,370 7.0 % (2,223) (7.1)% 9,158 10.8 % 41,774 11.0 %
Amortization of intangible assets 485 0.4 % 2,790 1.9 % 1,772 5.7 % 1,416 1.7 % 6,463 1.7 %
Non-cash share-based compensation 1,028 0.9 % 1,080 0.7 % 332 1.1 % 848 1.0 % 3,288 0.9 %
Adjusted operating income (loss) (non-GAAP) $ 25,982 22.6 % $ 14,240 9.6 % $ (119) (0.4)% $ 11,422 13.5 % $ 51,525 13.6 %

Three Months Ended August 31, 2016


Nutritional
Housewares Health & Home Supplements Beauty Total
Operating income (loss), as reported (GAAP) $ 24,233 22.9 % $ 9,397 6.5 % $ (1,229) (3.7) % $ 5,086 6.0 % $ 37,487 10.2 %
Asset impairment charges - -% - -% - -% - -% - -%
TRU bankruptcy charge - -% - -% - -% - -% - -%
Subtotal 24,233 22.9 % 9,397 6.5 % (1,229) (3.7)% 5,086 6.0 % 37,487 10.2 %
Amortization of intangible assets 671 0.6 % 3,542 2.5 % 1,571 4.7 % 1,438 1.7 % 7,222 2.0 %
Non-cash share-based compensation 705 0.7 % 1,005 0.7 % 333 1.0 % 1,101 1.3 % 3,144 0.9 %
Adjusted operating income (non-GAAP) $ 25,609 24.2 % $ 13,944 9.7 % $ 675 2.0 % $ 7,625 9.0 % $ 47,853 13.0 %

72
Reconciliation of Non-GAAP Financial Measures – GAAP Operating Income
to Adjusted Operating Income (non-GAAP) (Unaudited)
(in thousands)

Six Months Ended August 31, 2017


Nutritional
Housewares (a) Health & Home Supplements Beauty Total
Operating income (loss), as reported (GAAP) $ 41,619 19.5 % $ 22,290 7.5 % $ (54,892) (87.3)% $ 7,857 4.8 % $ 16,874 2.3 %
Asset impairment charges - - % - -% 50,070 79.6 % 4,000 2.4 % 54,070 7.3 %
TRU bankruptcy charge 956 0.4 % 2,640 0.9 % - -% - - % 3,596 0.5 %
Subtotal 42,575 20.0 % 24,930 8.4 % (4,822) (7.7)% 11,857 7.2 % 74,540 10.1 %
Amortization of intangible assets 1,129 0.5 % 5,576 1.9 % 3,610 5.7 % 2,833 1.7 % 13,148 1.8 %
Non-cash share-based compensation 2,052 1.0 % 2,160 0.7 % 513 0.8 % 1,754 1.1 % 6,479 0.9 %
Adjusted operating income (loss) (non-GAAP) $ 45,756 21.5 % $ 32,666 11.0 % $ (699) (1.1)% $ 16,444 10.0 % $ 94,167 12.8 %

Six Months Ended August 31, 2016


Nutritional
Housewares Health & Home Supplements Beauty Total
Operating income (loss), as reported (GAAP) $ 39,733 20.8 % $ 19,001 6.5 % $ (6,501) (9.4)% $ 8,152 4.9 % $ 60,385 8.4 %
Asset impairment charges - - % - -% 5,000 7.2 % 2,400 1.4 % 7,400 1.0 %
Patent litigation charge - - % 1,468 0.5 % - -% - -% 1,468 0.2 %
Subtotal 39,733 20.8 % 20,469 7.0 % (1,501) (2.2)% 10,552 6.4 % 69,253 9.7 %
Amortization of intangible assets 1,328 0.7 % 7,080 2.4 % 3,142 4.6 % 2,876 1.7 % 14,426 2.0 %
Non-cash share-based compensation 1,733 0.9 % 2,915 1.0 % 1,365 2.0 % 2,745 1.7 % 8,758 1.2 %
Adjusted operating income (non-GAAP) $ 42,794 22.5 % $ 30,464 10.5 % $ 3,006 4.4 % $ 16,173 9.8 % $ 92,437 12.9 %

(a) Includes approximately one-half month of incremental operating results from Hydro Flask, which was acquired on March 18, 2016.

73
Reconciliation of GAAP Net Income and Earnings Per Share (EPS) to Adjusted Income and
Adjusted EPS (non-GAAP)
(dollars in thousands, except per share data)
(Unaudited)
Three Months Ended August 31, Basic EPS Diluted EPS
2017 2016 2017 2016 2017 2016
Net income as reported (GAAP) $ 8,933 $ 28,355 $ 0.33 $ 1.02 $ 0.33 $ 1.00
Asset impairment charges, net of tax 24,559 - 0.90 - 0.90 -
TRU bankruptcy charge 3,392 - 0.12 - 0.12 -
Subtotal 36,884 28,355 1.35 1.02 1.35 1.00
Amortization of intangible assets, net of tax 5,607 6,228 0.21 0.22 0.20 0.22
Non-cash share-based compensation, net of tax 2,698 2,451 0.10 0.09 0.10 0.09
Adjusted income (non-GAAP) $ 45,189 $ 37,034 $ 1.66 $ 1.33 $ 1.65 $ 1.31

Weighted average shares of common stock used in


computing basic and diluted EPS 27,232 27,845 27,401 28,224

Six Months Ended August 31, Basic EPS Diluted EPS


2017 2016 2017 2016 2017 2016
Net income as reported (GAAP) $ 14,801 $ 47,381 $ 0.55 $ 1.70 $ 0.54 $ 1.68
Asset impairment charges, net of tax 47,687 5,097 1.76 0.18 1.75 0.18
Patent litigation charge, net of tax - 1,464 - 0.05 - 0.05
TRU bankruptcy charge 3,392 - 0.12 - 0.12 -
Subtotal 65,880 53,942 2.43 1.94 2.41 1.91
Amortization of intangible assets, net of tax 11,376 12,430 0.42 0.45 0.42 0.44
Non-cash share-based compensation, net of tax 5,398 6,544 0.20 0.24 0.20 0.23
Adjusted income (non-GAAP) $ 82,654 $ 72,916 $ 3.04 $ 2.62 $ 3.03 $ 2.59

Weighted average shares of common stock used in


computing basic and diluted EPS 27,154 27,809 27,323 28,185

74
EXPLANATION OF CERTAIN TERMS AND MEASURES USED IN THIS PRESENTATION
Throughout the accompanying presentation we refer to certain measures used by management to evaluate financial performance. We also may refer to a number of financial measures that are not defined under GAAP, but
have corresponding GAAP-based measures. Where non-GAAP measures appear, we provide tables reconciling these to their corresponding GAAP-based measures and refer to a discussion of their use. We believe these
measures provide investors with important information that is useful in understanding our business results and trends.

Many of the definitions below refer to terms also used in our Quarterly and Annual filings (“public filings”) with the SEC,
however certain terms are used only in the accompanying presentation and these are noted with an *.
1. Accounts receivable turnover: Twelve-month trailing net sales revenue divided by the average of the 11. Ending debt to ending equity ratio: Total interest bearing short- and long-term debt divided by
current and prior four fiscal quarters’ ending accounts receivable balances. This result is divided into 365 to shareholders’ equity. We use this as a leverage metric to indicate what proportion of debt and equity we are
express turnover in terms of average days outstanding. using to finance assets.
2. Adjusted diluted EPS (non-GAAP): Adjusted income divided by the weighted average shares of common 12. Growth from acquisitions: Net sales revenue growth associated with product lines or brands that we have
stock outstanding plus the effect of dilutive securities.* acquired and operated for less than twelve months during each period presented.
3. Adjusted income (non-GAAP): Net income as reported under GAAP excluding the following items net of
their applicable tax effects: non-cash asset impairment charges, CEO succession costs, acquisition‐related 13. Inventory turnover: Twelve-month trailing cost of goods sold divided by the average of the current and prior
expenses, Venezuelan re-measurement related charges, patent litigation charges, amortization of intangible four fiscal quarters’ ending inventory balances.
assets, and non-cash share-based compensation, as applicable.*
14. Operating expense ratio: Total operating expense (SG&A plus asset impairment charges) for the Company
4. Adjusted operating income (non-GAAP): Operating income for the Company or a segment as reported or a segment divided by the related net sales revenue for the Company or a segment.
under GAAP excluding non-cash asset impairment charges, CEO succession costs, acquisition‐related
expenses, Venezuelan re-measurement related charges, patent litigation charges, amortization of intangible 15. Operating leverage: The improvement in operating margin that the Company achieves with sales growth,
assets, and non-cash share-based compensation, as applicable.* due to the fixed nature of certain operating expenses.
5. Adjusted operating margin (non-GAAP): Adjusted Operating income for the Company or a segment divided 16. Operating margin: Operating income for the Company or a segment divided by the related net sales revenue
by the related net sales revenue for the Company or a segment.* for the Company or a segment.*
6. Cash flow from operations: Same as net cash provided by operating activities in our consolidated
statements of cash flows presented in our public filings. 17. Return on average equity: Twelve month trailing net income divided by the average of the current and prior
four fiscal quarters’ ending shareholders’ equity.
7. Cash flow productivity (non-GAAP): The result, expressed as a percentage, of cash flow from operations
minus capital expenditures, divided by reported net income. We currently use this as a metric to indicate the 18. Return on Capital: Twelve month trailing net income divided by the average of the sum of the beginning and
proportion of the cash we generate that can be made available for acquisitions, debt repayment, or ending total debt plus shareholders’ equity.*
shareholder repurchases.
19. Adjusted Return on Capital (non-GAAP): Twelve month trailing adjusted net income divided by the average
8. Core business: Core business is net sales revenue and related operations associated with product lines or
of the sum of the beginning and ending total debt plus shareholders’ equity.*
brands after the first twelve months from the date the product line or brand was acquired. Net sales revenue
and related operations from internally developed product lines or brands are always considered core 20. Segment operating income: We compute segment operating income based on net sales revenue, less cost
business.* of goods sold, SG&A, and any asset impairment charges associated with the segment. The SG&A used to
9. Corporate overhead costs: General corporate managerial and related administrative compensation costs, compute each segment’s operating income is directly associated with the segment. We then deduct
legal, accounting, and regulatory compliance costs, together with associated operating overhead that is not allocations for operational shared services and corporate overhead costs. We do not allocate non-operating
directly attributable to any one operating segment, but benefits the Company as a whole. These charges are income and expense, including interest or income taxes to operating segments.*
allocated to each operating segment based upon a number of factors depending on the nature of the
expense. Such factors include relative revenues, estimates of relative labor expenditures for each segment 21. SG&A ratio: This is total SG&A for the Company or a segment divided by the related net sales revenue for
and certain intangible asset levels held by each segment. the Company or a segment.

10. Current ratio: Current assets divided by current liabilities at the end of a reporting period, expressed as a 22. Working capital: Current assets less current liabilities.*
ratio.

75