Oil Dri of America : FY25 Annual Meeting Master Presentation - FINAL

About this update from Oil-dri Corporation Of America

Annual Meeting of Stockholders Fiscal Year 2025 Introduction Leslie Garber Director of Investor Relations Agenda Annual Meeting Proposals Financial Review & Business Presentations Questions & Answers Annual Meeting Proposals Tony Parker Vice President, General Counsel & Secretary Proposals Proposal No. 1: Election of Directors Proposal No. 2: Ratification of Appointment of Independent Auditor Cautionary Statements Regarding Forward-Looking Information Certain statements in this presentation may constitute forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are based on management's current expectations, estimates, forecasts, assumptions and projections about future events, our future performance, the future of our business, our plans and strategies, projections, anticipated tends, the economy and other future developments and their potential effects on us. In addition, we, or others on our behalf, may make forward-looking statements in other presentations or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls and conference calls. Forward-looking statements can be identified by words such as "expect," "endeavor," "outlook," "forecast," "would," "could," "should," "project," "intend," "plan," "continue," "believe," "seek," "estimate," "anticipate," "may," "assume," "potential," "foresee," "predict," "possible," "commit," "design," "strive," and variations of such words and similar references to future periods. Such statements are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those anticipated, intended, expected, believed, estimated, projected, planned or otherwise expressed in any forward-looking statements, including, but not limited to, those described in our most recent Annual Report on Form 10-K and from time to time in our other filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except to the extent required by law, we do not have any intention or obligation to update publicly any forward-looking statements after the distribution of this report, whether as a result of new information, future events, changes in assumptions or otherwise. Non-GAAP Measures To supplement our consolidated financial statements prepared in accordance with generally accepted accounting principles ("GAAP"), Oil-Dri provides certain non-GAAP financial measures in this presentation as supplemental financial metrics. In particular, EBITDA, Free Cash Flow, Net Debt and Working Capital are non-GAAP financial measures provided in this presentation. We provide a reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure in the appendix to this presentation. The non-GAAP financial measures used by Oil-Dri may not be the same or calculated in the same manner as those used and calculated by other companies. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for Oil-Dri's financial results prepared and reported in accordance with GAAP. We believe that these non-GAAP measures may be helpful to investors and others in understanding and evaluating our operating results, and we urge investors to review the reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures included in this presentation, and not to rely on any single financial measure to evaluate our business. Fiscal Year 2025 Record -Breaking Performance Daniel Jaffee President & Chief Executive Officer Miney Ball A data -driven, disciplined strategy to maximize value per ton Daniel Jaffee President & Chief Executive Officer 1,050 1,000 950 900 850 800 750 700 1,022 Tons Sold (thousands) CAGR: -1.0% 811 FY03 FY05 FY07 FY09 FY11 FY13 FY15 FY17 FY19 FY21 FY23 FY25 $500 $450 $400 $350 $300 $250 $200 $150 $173 FY03 FY05 FY07 FY09 FY11 FY13 FY15 FY17 FY19 FY21 FY23 FY25 Net Sales (millions) CAGR: 4.8% $486 $600 $550 $500 $450 $400 $350 $300 $250 $200 $150 $169 Net Sales Per Ton CAGR 5.9% $599 FY03 FY05 FY07 FY09 FY11 FY13 FY15 FY17 FY19 FY21 FY23 FY25 $190 $170 $150 $130 $110 $90 $70 $50 $30 $10 $35 FY03 FY05 FY07 FY09 FY11 FY13 FY15 FY17 FY19 FY21 FY23 FY25 Gross Profit Per Ton CAGR 7.6% $176 $0.80 $0.70 $0.60 $0.50 $0.40 $0.30 $0.20 $0.10 $0.16 Paid Dividends Per Share * ODC HAS RAISED DIVIDENDS 22 YRS. IN A ROW! $0.72 † FY04 FY06 FY08 FY10 FY12 FY14 FY16 FY18 FY20 FY22 FY24 FY26E *Prior year per share data has been updated to reflect the 2-for-1 stock-split in January 2025. 13 † FY2CE reflects expected annualized dividends announced on June 4, 2025. Share Price* (As of Fiscal Year End) $60.00 $50.00 CAGR with Reinvested Dividends 15.0% $56.40 $40.00 $30.00 $20.00 $10.00 $0.00 $4.78 FY03 FY05 FY07 FY09 FY11 FY13 FY15 FY17 FY19 FY21 FY23 FY25 Financial Results Fiscal Year 2025 & Q1 Fiscal Year 2026 Susan Kreh Chief Financial Officer & Chief Information Officer Fiscal Year 2025 Goals - A Look Back Grow top and bottom lines with improved volumes and product mix Invest in manufacturing infrastructure to enhance operational efficiency and support long-term growth Integrate Ultra Pet to unlock synergies, drive growth, and expand market presence Implement a 2-for-1 stock split Record date: December 20, 2024 Distribution of additional shares: January 3, 2025 Shares traded on post-split basis: January 6, 2025 Increase disclosures as we are no longer a Smaller Reporting Company Fiscal Year 2025 Business & Financial Highlights Set new records in consolidated net sales, gross profit and net income Significantly expanded the renewable diesel business Successfully integrated the Ultra Pet business and achieved synergistic benefits Made the largest capital investment in manufacturing infrastructure in company history Raised the annual dividend increase from $.04/share to $.10/shar e Substantially reduced debt Grew cash reserves to over $50 million $300 $250 $200 $150 $100 $50 $0 CAGR: 6.3% $256 $226 $242 $44 CAGR: 3.1% $45 $47 Cat Litter FY23 FY24 FY25 Industrial & Sports R&W: Net Sales by Principal Product (millions) $120 $100 $80 $60 $40 $20 $0 B2B: Net Sales by Principal Product (millions) CAGR: 19.1% $110 $92 $78 CAGR: 4.9% $40 $44 $34 CAGR: 7.2% $24 $24 $28 Agricultural & Horticultural Fluids Purification Animal Health & Nutrition FY23 FY24 FY25 Net Sales (millions) $500 $450 $400 $350 $300 $250 $200 +11.0% $438 $486 FY24 FY25 $150 $130 $110 $90 $70 $50 $30 -5.8% $128 $120 Q1 FY25 Q1 FY26 $490 $480 $470 $460 $450 $440 $430 $438 Net Sales Growth Drivers (millions) +11.0% $486 $420 FY24 Price/Mix Volume Acquisition FY25 $15 $18 $15 Tons Sold (thousands) 820 800 780 760 740 720 700 811 +4.9% 773 FY24 FY25 230 220 210 200 190 180 170 160 150 -5.6% 215 203 Q1 FY25 Q1 FY26 $600 $550 $500 $450 $400 $350 $300 +5.8% Net Sales Per Ton -0.2% $594 $592 $566 $599 $600 $550 $500 $450 $400 $350 $300 FY24 FY25 Q1 FY25 Q1 FY26 $180 $160 $140 $120 $100 $80 $60 $40 +9.0% Gross Profit Per Ton -7.8% $189 $175 $162 $176 $200 $180 $160 $140 $120 $100 $80 $60 $40 FY24 FY25 Q1 FY25 Q1 FY26 35.0% 30.0% +0.9% Gross Margin % 31.9% 29.5% 35.0% 28.6% 29.5% 30.0% -2.4% 25.0% 20.0% 25.0% 20.0% 15.0% 15.0% FY24 10.0% FY25 10.0% Q1 FY25 Q1 FY26 Net Income Per Ton $70 $60 $50 $40 $30 $20 $10 $0 +30.5% $51 $67 FY24 FY25 $80 $70 $60 $50 $40 $30 $20 $10 $0 0.0% $76 $76 Q1 FY25 Q1 FY26 $100 $80 $60 $40 $20 $0 +28.8% EBITDA (millions) $70 $90 $30 $28 $26 $24 $26 $24 $22 $20 -9.7% FY24 FY25 Q1 FY25 Q1 FY26 Diluted Earnings Per Basic Common Share* $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 +36.0% $3.70 $2.72 FY24 FY25 $1.14 $1.12 $1.10 $1.08 $1.06 $1.04 $1.02 $1.00 -5.8% $1.06 $1.13 Q1 FY25 Q1 FY26 Paid Dividends Per Share* $0.65 $0.60 +6.9% $0.20 $0.18 +16.1% $0.55 $0.50 $0.16 $0.14 $0.45 $0.12 $0.40 $0.62 $0.58 FY24 FY25 $0.10 $0.180 $0.155 Q1 FY25 Q1 FY26

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