Slide 1: Energizer Holdings, Inc. CAGNY
+ Energizer Holdings, Inc. CAGNY February 29, 2024 Exhibit 99.1
Slide 2: Forward-looking statements
This document contains both historical and forward-looking statements. Forward-looking statements are not based on historical facts but instead reflect our expectations, estimates or projections concerning future results or events, including, without limitation, the future sales, gross margins, cost
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company reports its financial results in accordance with accounting principles generally accepted in the U.S. ("GAAP"). However, management believes that certain non-GAAP financial measures provide users with additional meaningful comparisons to the corresponding hist
Slide 4: Who We Are
+ Who We Are
Slide 5: Global footprint, scale and capabilities
5 Global footprint, scale and capabilities EXPERTISEAVAILABILITY REACH World-class supply chain and distributor network 160+ markets around the world in every consumer channel Billions of consumers every day
Slide 6: A powerful portfolio of leading brands
A powerful portfolio of leading brands
Slide 7: Commercial Footprint — United States and International
Commercial Footprint — United States and International 7 NET SALES BY REGION* NET SALES BY CATEGORY $1.8B $1.2B 0% 50% 100% Net Sales ($B) United States International Sold in +160 Markets Across the Globe $2.4B $0.6B $2,224 $2,345 $521 $615 FY20 FY23 Batteries & Lights Autocare +5.7% CAGR +1.8% CAG
Slide 8: ” ® ‘— oO >) ® — fae) O — =) oO
” ® ‘— oO >) ® — fae) O — =) oO
Slide 9: Batteries & Lights
+ Batteries & Lights
Slide 10: Device ownership and consumption both stable and above pre-pandemic levels
Device ownership and consumption both stable and above pre- pandemic levels, supporting healthy volume trends 20.7 21.8 5,766 6,389 - 1,500 3,000 4,500 6,000 7,500 9,000 5.0 10.0 15.0 20.0 25.0 2015 2016 2017 2018 2019 2020 2021 2022 52WE MAY 2023 Batteries Sales and Device Ownership US Devices per
Slide 11: Every room in the house contains multiple battery-powered devices
Every room in the house contains multiple battery-powered devices Kitchen Kitchen Scale Kitchen Timer Wet Mop Meat Thermometer Smoke Detector Can Opener Wine Opener Home Security Sensor Bedrooms Smoke Detector Ceiling Fan Remote Touch/Tap Light Power Window Blinds Travel Alarm Baby Monitor Motorized
Slide 12: Devices used on a daily basis
Devices used on a daily basis Source: Energizer FY23 Device Inventory Study, U.S.12
Slide 13: Battery category has delivered low single digit volume growth
Battery category has delivered low single digit volume growth over the long term ’15-’19 CAGR +1.5% 18.0 18.4 19.1 19.2 19.1 22.4 22.2 20.5 20.1 - 5.0 10.0 15.0 20.0 25.0 2015 2016 2017 2018 2019 2020 2021 2022 52W APR 2023 Global Batteries Annual Volume Sales (Billions) ’19-’23 CAGR +1.4% Source: N
Slide 14: Volumes turned positive in the back half of 2023
Volumes turned positive in the back half of 2023 with continued growth into 2024 14 -15% -10% -5% 0% 5% 10% 15% Dollar Sales % Chg vs YA Volume Sales % Chg vs YA Total US - MULC + Amazon Source: Circana (IRI) Unify Total US Multi-Outlet plus Convenience + Profitero (Amazon) trailing 13 week
Slide 15: Auto Care
+ Auto Care
Slide 16: Auto Care category sales driven by cars, age, and miles driven
Auto Care category sales are driven primarily by the number and age of cars, and miles driven # OF CARS (1) ANNUAL MILES DRIVEN (2) AGE OF CAR (3) Source: (1)S&P Global Mobility (LV Production Forecast July 2023, DOT, Strategy & Research); (2)Trendlens Airty VMT US Calendar years; (3) S&P Global Mob
Slide 17: Energizer competes in four Auto Care subcategories
Energizer competes in four Auto Care subcategories Source: Circana U.S. National RTS+RTSx 52 Weeks Ending 2/3/24. Circana categories as defined by Energizer17 Performance Chemicals • Fuel, oil, & diesel additives • Brake fluid • Power-steering fluid • Transmission treatments • Parts cleaners Appeara
Slide 18: Broad portfolio covers auto care bumper to bumper
Broad portfolio covers auto care bumper to bumper, inside and out 18 Internal Protectant Leather Carpet Air Freshener External Wash Wax Wheel Tire Paint Restoration Trim Care Bug/Tar Remover Multi-Purpose Glass Cleaner Wipes Lens/Plastic Chrome/Metal Under the Hood Additives Functional fluids & trea
Slide 19: Recent History
Recent History EB
Slide 20: Macro trends have significantly impacted our operating environment
Over the past three years, macro trends have significantly impacted our operating environment 20 Workforce expectations growing and putting stress on companies Supply chain volatility driving inventory imbalance Commodity prices remain elevated and volatile Highest global inflation since 1970s Digit
Slide 21: Net sales and adjusted gross margin FY20-FY23
$2,745 $3,022 $3,050 $2,960 40.6% 39.6% 37.3% 39.0% 30.0% 35.0% 40.0% 45.0% $1,000 $1,500 $2,000 $2,500 $3,000 FY20 FY21 FY22 FY23 Energizer Holdings, Inc. Net Sales ($ in millions) *Adjusted Gross Margin ’20 -’23 CAGR +2.5% Organic sales growth over the long term, with recovery in profitability exp
Slide 22: Project Momentum
+ Project Momentum
Slide 23: Project Momentum is accelerating restoration of our margins
Project Momentum is accelerating restoration of our margins, enhancing free cash flow and strengthening our balance sheet to fuel our long-term financial algorithm ANNOUNCED PROJECT MOMENTUM 2 Year Cost Savings and Working Capital Reduction Program >$50M SAVINGS REALIZED TO DATE ANNOUNCED ADDITION O
Slide 24: Creating a network that is fast, responsive and flexible
Focused on creating a network that is fast, responsive and flexible to maximize value across the Energizer organization Optimize production footprint and pack sites to gain synergies and reduce fixed cost Footprint Optimization Optimize volume production across manufacturing plants and TPM partners
Slide 25: Increased Momentum savings target by $30M
Increased Momentum savings target by $30M in Q1 FY’24, taking the savings range to $160M - $180M $160 to $180 MILLION In Run Rate Benefits anticipated to be achieved by end of FY25 $55M - $65M in FY’24 (unchanged) $50M - $60M in FY’25 $150 MILLION In Working Capital Improvements One-time Cash Pre-ta
Slide 26: Our Strategic Priorities
+ Our Strategic Priorities
Slide 27: Our strategic priorities remain key to our investment thesis
Our strategic priorities remain key to our investment thesis 27 1 2 3 REBUILD GROSS MARGINS GENERATE TOP TIER FREE CASH FLOW PAY DOWN DEBT
Slide 28: Significant progress over the last six quarters
28 We have made significant progress over the last six quarters Expanded Adjusted Gross Margins by nearly 200 basis points in the trailing 12 months vs. FY’22 and remain on track to deliver ~40% in FY’24 Segment Profit improvement expected across both Batteries & Lights and Auto Care in FY'24
Slide 29: As We Look Ahead
As We Look Ahead EB
Slide 30: Building positive momentum
30 Building positive momentum Q1 FY2024 Q2 FY2024 Q3 FY2024 Organic Net Sales Adjusted Gross Margin* Free Cash Flow & Leverage (7.4%)* Expect to Generate >10% of Free Cash Flow Total $150 - $200 Million of Debt Paydown Half Turn Reduction in Net Leverage, Ending the Year below 5.0x’s Return to Topli
Slide 31: Key Metrics – Fiscal 2024 Outlook
Key Metrics – Fiscal 2024 Outlook METRIC Fiscal 2024 Outlook All comparisons are to Fiscal 2023 comparable reported results. * See non-GAAP reconciliations in the Appendix. Organic net sales projected flat to down low single digits • Q2 organic net sales projected to decline 2 – 3%Net Sales Adjusted
Slide 32: Appendix Materials: Non-GAAP Reconciliations
Appendix Materials: Non-GAAP Reconciliations 32
Slide 33: Non-GAAP Reconciliation: Consolidated Net Sales
Non-GAAP Reconciliation: Consolidated Net Sales (in millions) Organic. This is the non-GAAP financial measurement of the change in revenue or segment profit that excludes or otherwise adjusts for the change in Argentina operations and impact of currency from the changes in foreign currency exchange
Slide 34: Non-GAAP Reconciliation: Adjusted Gross Margin
Non-GAAP Reconciliation: Adjusted Gross Margin (in millions) Adjusted gross margin as a percent of sales excludes any charges related to restructuring programs, acquisition and integration costs, the Fiscal 2022 exit from the Russia market, and the May 2022 Brazil flood damage to our manufacturing p
Slide 35: Non-GAAP Reconciliation: Segment Profit
Non-GAAP Reconciliation: Segment Profit (in millions) 35 Operations for Energizer are managed via two product segments: Batteries & Lights and Auto Care. Energizer’s operating model includes a combination of standalone and shared business functions between the product segments, varying by country an
Slide 36: Non-GAAP Reconciliation: Segment Profit continued
Non-GAAP Reconciliation: Segment Profit continued (in millions) 36
Slide 37: Non-GAAP Reconciliation: Free Cash Flow
Non-GAAP Reconciliation: Free Cash Flow (in millions) Free Cash Flow is defined as net cash provided by operating activities reduced by capital expenditures, net of the proceeds from asset sales. 37
Slide 38: Non-GAAP Reconciliation: Adjusted EBITDA - December 31, 2023
Non-GAAP Reconciliation: Adjusted EBITDA - December 31, 2023 (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss/(gain) on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of the costs related to restru
Slide 39: Non-GAAP Reconciliation: Adjusted EBITDA - June 30, 2022
Non-GAAP Reconciliation: Adjusted EBITDA - June 30, 2022 (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of acquisition and integration costs, the
Slide 40: Non-GAAP Reconciliation: Net Debt and Net Leverage
Non-GAAP Reconciliation: Net Debt and Net Leverage (in millions) Net Debt is defined as total Company debt, less cash and cash equivalents. Net leverage is Net debt divided by the last twelve months Adjusted EBITDA. LTM is the last twelve months for June 30, 2022 and December 31, 2023, respectively.
Slide 41: Non-GAAP Reconciliation: FY 2024 Outlook
Non-GAAP Reconciliation: FY 2024 Outlook (in millions – except per share data) ) 41
Slide 42: Non-GAAP Reconciliation: FY 2024 Outlook
Non-GAAP Reconciliation: FY 2024 Outlook (in millions) 42