Slide 1: Portfolio Transformation Update: InSinkErator Acquisition
Portfolio Transformation Update: InSinkErator Acquisition MONDAY, AUGUST 8, 2022
Slide 2: Cautionary Statement
Cautionary Statement This document contains forward-looking statements about Whirlpool Corporation and its consolidated subsidiaries ("Whirlpool") within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Whirlpoo
Slide 3: Acquisition Supports Portfolio Transformation
Acquisition Supports Portfolio Transformation THREE STRONG PILLARS SMALL APPLIANCES MAJOR APPLIANCES COMMERCIAL APPLIANCES Delivering Long-Term Value Creation (GROW, ALSO INORGANICALLY) (STRENGTHEN + REFOCUS) (GROW, ALSO INORGANICALLY) ● More global in nature ● Invest in ‘Win Americas’ (#1 ● Structu
Slide 4: InSinkErator at a Glance
at a Glance Overview of InSinkErator FY 2021 Revenue FY ’21 Revenue: FY ’21 Revenue: ● Brand reputation for highest quality and performance By Segment By End Use Residential Disposers Replacement ● Predictable, recurring sales driven by installed base ~80% ~75% New Construction ~15% ● Strong growth,
Slide 5: Product Portfolio
Product Portfolio Residential Food Waste Disposers Standard Series Power Series Quiet Series Residential Water Products & Disposal Accessories Commercial Products Designer Faucets April ‘22 Launch Other (Pulpers, Instant Hot Water Instant Warm Chillers Food Waste Disposers Collectors, Instant Hot Sy
Slide 6: Immediately Accretive to Whirlpool
Immediately Accretive to Whirlpool Immediately Accretive Synergies and Value Creation Upside Sales 2022E Sales ~$650M ● Long-term U.S. housing growth, leveraging #1 position Incremental from InSinkErator EBITDA(1) ● International penetration potential 2022E EBITDA $170M+ ● Ability to expand brand off
Slide 7: Acquisition Details
Acquisition Details ● Purchase price of $3B, initially funded from available liquidity Transaction Considerations ● 14.0x EBITDA multiple, including synergies and ~$300M of future tax benefits ● Maintain commitment to strong investment grade rating; New debt to be put in place at a later date Capital
Slide 8: Closing Remarks and Q&A
and Q&A Closing Remarks Whirlpool Corporation Confidential
Slide 9: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, including earnings before interest and taxes (EBIT), EBIT margin, EBITDA, and free cash flow. These measures should not be considered as alternatives to, or more meaningful than, net earnings (calculated
Slide 10: Whirlpool Corporation ownership of the Hotpoint brand
* Whirlpool Corporation ownership of the Hotpoint brand in EMEA and Asia Pacific regions is not affiliated with the Hotpoint brand sold in the Americas 10