Slide 1: First Quarter 2026 Supplemental
First Quarter 2026 Supplemental April 28, 2026 1 1
Slide 2: Cautionary statement
Cautionary statement Forward-Looking Information This communication contains forward looking statements as that term is defined in the Private Securities Litigation Reform Ac t of 1995. These forward-looking statements include, but are not limited to, statements regarding macroeconomic conditions an
Slide 3: Accelerated sales growth, double-digit EPS growth
Accelerated sales growth, double-digit EPS growth Reported diluted EPS $1.52; adjusted diluted EPS $1.70, +13% ▪ Ecolab delivered another strong quarter of double-digit EPS growth. ▪ Performance was driven by accelerated sales growth and solid operating income margin expansion. Reported sales +10%;
Slide 4: 1Q overview
1Q overview ▪ Accelerated growth with reported sales +10%; organic sales +4% o Pricing +3%, supported by ongoing customer value delivery. o Volume +1%, accelerated growth driven by growth engines and good new business wins. ▪ Organic growth accelerated o Water +2%, strong double-digit growth in Glob
Slide 5: Expect 12-15% EPS growth and accelerating organic sales growth
Expect 12-15% EPS growth and accelerating organic sales growth ▪ Long-term growth trends in water, hygiene, infection prevention, and digital technologies continue to fuel resilient demand for Ecolab’s innovative technologies and services. Strong momentum in Ecolab’s growth engines, which include Gl
Slide 6: 2026 guidance and long-term targets
2026 guidance and long-term targets 2026 Guidance Long-Term Targets Reported sales growth +9% to 11% +5-7% ORGANIC Organic sales growth 1H +4%, 2H +6% to 7% SALES GROWTH Adj. OI growth +14% to 16% >20% OI MARGIN Adj. OI margin 19%, +100 bps +100-150 BPS PER YEAR Adj. tax rate 20.5% to 21.5% +12-15%A
Slide 7: 1Q 2026 sales growth detail
1Q 2026 sales growth detail Fixed Rate Organic % Change % Change % Change Global Water Consolidated Food & Beverage 5% 5% Volume 1% Heavy Water -2% -2% Pricing 3% High-Tech 131% 25% Organic 4% Light Water 2% 2% Acq./Div. 3% Paper -2% -2% Fixed currency growth 6% Total Global Water 7% 2% Currency imp
Slide 8: Global Water Segment
Global Water Segment Sales +5% Food & Beverage ▪ Organic sales growth continued to significantly outperform market trends driven by robust new business and value pricing. ▪ Growth was led by strong gains in beverage & brew, dairy, and food. ▪ We continue to benefit from our One Ecolab enterprise sel
Slide 9: Global Water Segment
Global Water Segment Sales +25% High-Tech ▪ Reported sales increased 131%, reflecting the acquisition of Ovivo Electronics. Very strong organic sales growth reflected robust and broad- based new business wins across microelectronics and data centers. ▪ Microelectronics: Accelerating double-digit gro
Slide 10: Global Water Segment
Global Water Segment Sales -2% Paper ▪ As expected, Paper’s performance improved sequentially driven by continued new business and stabilizing customer production rates. ▪ Performance in tissue and towel, packaging and graphic paper all improved sequentially, led by good new business wins. ▪ While s
Slide 11: Global Institutional & Specialty Segment
Global Institutional & Specialty Segment Sales +2% Institutional ▪ As expected, sales growth improved, reflecting good growth in hospitality, which more than offset softer sales to hospitals. o Hospitality: Performance remained steady, driven by value pricing and attractive new business wins from ou
Slide 12: Global Pest Elimination Segment
Global Pest Elimination Segment Sales +7% Pest Elimination ▪ Strong organic growth was led by robust gains in restaurants, food retail, food & beverage, and healthcare. This strong and broad-based performance continues to benefit from our One Ecolab enterprise selling approach. ▪ To fuel continued,
Slide 13: Global Life Sciences Segment
Global Life Sciences Segment Sales +11% Life Sciences ▪ Accelerated sales growth reflected good new business wins that leverage our innovation and investments in new capabilities an d capacity. ▪ Continued double-digit growth in bioprocessing along with strong growth in pharmaceutical & personal car
Slide 14: Segment operating income performance
Segment operating income performance ($ millions – fixed currency, unaudited) Global Water 1Q 2026 1Q 2025 Change Global Institutional & Specialty 1Q 2026 1Q 2025 Change Operating income $297.8 $278.7 7% Operating income $347.5 $308.4 13% Operating income margin 14.6% 14.7% -10 bps Operating income
Slide 15: Consolidated margin performance
Consolidated margin performance $ millions, unaudited 1Q 2026 1Q 2025 Change Gross Margin Gross profit $1,770.8 $1,634.8 8% ▪ Gross margin declined due to the impact of recent acquisitions. Gross margin 43.6% 44.2% -60 bps Underlying gross margin was stable as strong pricing was offset Adjusted gros
Slide 16: Balance sheet / cash flow
Balance sheet / cash flow Summary Balance Sheet March 31 March 31 (millions, unaudited) 2026 2025 (millions, unaudited) 2026 2025 Cash and cash eq. $519.8 $1,162.6 Short-term debt $1,573.2 $614.2 Accounts receivable, net 3,280.2 2,857.1 Accounts payable 2,054.8 1,765.6 Inventories 1,572.0 1,547.2 Ot
Slide 17: Non-GAAP financial measures
Non-GAAP financial measures First Quarter Ended March 31 (millions, except percent and per share) 2026 2025 Net sales Reported GAAP net sales $4,066.1 $3,695.0 Effect of foreign currency translation (12.2) 128.1 Non-GAAP fixed currency sales 4,053.9 3,823.1 Effect of acquisitions and divestitures (9
Slide 18: Non-GAAP financial measures
Non-GAAP financial measures First Quarter Ended March 31 (millions, except percent and per share) 2026 2025 Operating income Reported GAAP operating income $622.0 $555.3 Special (gains) and charges at public currency rates 57.7 34.3 Non-GAAP adjusted operating income 679.7 589.6 Effect of foreign cu
Slide 19: Non-GAAP financial measures
Non-GAAP financial measures First Quarter Ended March 31 2026 2025 Diluted EPS attributable to Ecolab Reported GAAP diluted EPS $1.52 $1.41 Special (gains) and charges, after tax 0.16 0.09 Discrete tax net expense (benefit) 0.02 0.00 Non-GAAP adjusted diluted EPS $1.70 $1.50 Provision for Income Tax
Slide 20: Non-GAAP financial measures
Non-GAAP financial measures First Quarter Ended (millions) March 31 2026 2025 EBITDA (trailing twelve months ended) Net income including non-controlling interest $2,123.4 $2,121.8 Provision for income taxes 472.6 500.5 Interest expense, net 255.5 269.2 Depreciation 691.9 639.1 Amortization 311.5 297
Slide 21: Non-GAAP financial measures
Non-GAAP financial measures First Quarter Ended March 31 (millions) 2026 2025 Impact of Acquisitions and Impact of Acquisitions and Fixed Currency Divestitures Organic Fixed Currency Divestitures Organic Net Sales Global Water $2,035.2 ($95.0) $1,940.2 $1,899.5 $- $1,899.5 Global Institutional & Spe
Slide 22: Non-GAAP financial information
Non-GAAP financial information Non-GAAP Financial Information: This communication and certain of the accompanying tables include financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. (“GAAP”). These non-GAAP financial measures may in
Slide 23: Non-GAAP financial information (cont.)
Non-GAAP financial information (cont.) Non-GAAP Financial Information (Continued): Our non-GAAP financial measures for adjusted cost of sales, adjusted gross margin, adjusted gross profit and adjusted operating income exclude the impact of special (gains) and charges and our non-GAAP financial measu