Page 1

■ ■ ST . PAUL , Minn . - H.B. Fuller Company ( NYSE : FUL ) today reported financial results for the first quarter ended Feb. 27 , 2021 . ■ H.B. Fuller Worldwide Headquarters 1200 Willow Lake Boulevard St. Paul , Minnesota 55110-5101 NEWS Items of Note for First Quarter 2021 Significant revenue and earnings growth versus the first quarter of fiscal 2020 was driven by strong operational execution , higher sales , and benefits from restructuring efficiencies . Net revenue increased 12.3 % versus last year . Organic revenue increased 10.5 % , driven by 21 % organic growth in Engineering Adhesives segment sales . Strong sales growth and restructuring efficiencies resulted in net income of $ 30 million ; adjusted EBITDA of $ 101 million increased 30 % year over year . Earnings per diluted share ( EPS ) were $ 0.56 ; adjusted EPS of $ 0.66 nearly doubled versus the prior year quarter . Debt paydown in the first quarter was approximately $ 16 million , compared with $ 6 million in the prior year quarter , and is on track to the company's $ 200 million debt paydown target for the year . ■ ■ Barbara Doyle Investor Relations contact 651-236-5023 March 24 , 2021 H.B. Fuller Reports First Quarter Fiscal 2021 Results Organic revenue growth of 10.5 % driven by share gains and strong demand First quarter net income of $ 30 million ; adjusted EBITDA of $ 101 million up 30 % year - over - year Company raises its full year guidance on stronger outlook for revenue and EBITDA growth 1 Summary of First Quarter 2021 Results Net revenue of $ 726 million increased 12.3 % compared with the first quarter of 2020. Foreign currency exchange rates favorably impacted revenue by 1.8 % . Organic revenue , which excludes impacts from foreign currency translation , increased 10.5 % versus last year . Strong sales growth in Engineering Adhesives and Hygiene , Health and Consumable Adhesives offset effects of slower commercial construction and extreme weather on Construction Adhesives revenues .