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dbACCESS GLOBAL CONSUMER CONFERENCE JUNE 2025 Chris Peterson, President & Chief Executive Officer Mark Erceg, Chief Financial Officer
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© Newell Brands 2 Some of the statements made in this presentation, particularly those anticipating future financial performance, business prospects, growth, operating strategies, the benefits and savings associated with the 2024 organizational realignment plan (the “Realignment Plan”) future macroeconomic conditions and similar matters, are not historical in nature and constitute forward-looking statements within the meaning of the federal securities law. These statements generally can be identified by the use of words such as “intend,” “anticipate,” “believe,” “estimate,” “project,” “target,” “plan,” “expect,” “setting up,” “beginning to,” “will,” “should,” “would,” “could,” “resume,” “are confident that,” “remain optimistic that,” “seek to,” or similar statements. We caution that forward-looking statements are not guarantees because there are inherent difficulties in predicting future results. Actual results may differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to: • our ability to optimize costs and cash flow and mitigate the impact of soft global demand and retailers’ inventory rebalancing through discretionary and overhead spend management, advertising and promotion expense optimization, demand forecast and supply plan adjustments and actions to improve working capital; • our dependence on the strength of retail and consumer demand and commercial and industrial sectors of the economy in various countries around the world; • our ability to improve productivity, reduce complexity and streamline operations; • risks related to our substantial indebtedness, potential increases in interest rates or changes in our credit ratings including the failure to maintain financial covenants which if breached could subject us to cross-default and acceleration provisions in our debt documents; • the impact on our operations and financial condition resulting from the current global macroeconomic environment, including the impact of tariffs imposed by the U.S. and retaliatory tariffs imposed by foreign countries, and our ability to effectively execute our mitigation plans; • competition with other manufacturers and distributors of consumer products; • major retailers’ strong bargaining power and consolidation of our customers; • supply chain and operational disruptions in the markets in which we operate, including as a result of geopolitical and macroeconomic conditions and any global military conflicts, including those between Russia and Ukraine and in the Middle East; • changes in the prices and availability of labor, transportation, raw materials and sourced products, including significant inflation, and our ability to offset cost increases through pricing and productivity in a timely manner; • our ability to effectively execute our turnaround plan, including the organizational realignment plan and other restructuring and cost saving initiatives; • our ability to develop innovative new products, to develop, maintain and strengthen end-user brands and to realize the benefits of increased advertising and promotion spend; • the risks inherent to our foreign operations, including currency fluctuations, exchange controls and pricing restrictions; • future events that could adversely affect the value of our assets and/or stock price and require additional impairment charges; • unexpected costs or expenses associated with dispositions; • the cost and outcomes of governmental investigations, inspections, lawsuits, legislative requests or other actions by third parties, the potential outcomes of which could exceed policy limits, to the extent insured; • our ability to maintain effective internal control over financial reporting; • risk associated with the use of artificial intelligence in our operations and our ability to properly manage such use; • a failure or breach of one of our key information technology systems, networks, processes or related controls or those of our service providers; • the impact of U.S. and foreign regulations on our operations, including environmental remediation costs and legislation and regulatory actions related to product safety, data privacy and climate change; • the potential inability to attract, retain and motivate key employees; • changes in tax laws and the resolution of tax contingencies resulting in additional tax liabilities; • product liability, product recalls or related regulatory actions; • our ability to protect our intellectual property rights; • the impact of climate change and the increased focus of governmental and non-governmental organizations and customers on sustainability issues, as well as external expectations related to environmental, social and governance considerations; • significant increases in the funding obligations related to our pension plans; and • other factors listed from time to time in our SEC filings, including but not limited to our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other filings. The consolidated condensed financial statements are prepared in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”). Management’s application of U.S. GAAP requires the pervasive use of estimates and assumptions in preparing the condensed consolidated financial statements. The Company continues to be impacted by inflationary pressures, soft global demand, major retailers' focus on tight control over their inventory levels, elevated interest rates and indirect macroeconomic impacts from geopolitical conflicts as well as recently imposed tariffs by the current U.S. presidential administration, including those most recently announced reciprocal tariffs, some of which are currently delayed, and other countries’ retaliatory actions in response to such tariffs, which has required greater use of estimates and assumptions in the preparation of our condensed consolidated financial statem ents. Although we believe we have made our best estimates based upon current information, actual results could differ materially and may require future changes to such estimates and assumptions, including reserves, which may result in future expense or impairment charges. The information contained in this presentation and the tables is as of the date indicated. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by law. This presentation and the accompanying remarks contain non-GAAP measures. Reconciliations of such non-GAAP measures to the most directly comparable GAAP measures are contained in the Appendix. FORWARD LOOKING STATEMENTS
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© Newell Brands 3 NEWELL AT A GLANCE Top 10 Brands Top 10 International Markets UK Canada France Japan Mexico Brazil Germany Australia Colombia Italy $884M TTM normalized EBITDA 1,2 $7.6B Net sales ~24K employees 10 countries ~90% of sales 38% international sales 25 brands ~90% of sales All statistics as of or for the year ended 2024 unless noted; 1. Refer to Appendix for reconciliation to GAAP figure; 2. Figure as of Q1’25
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© Newell Brands Slide 4 A DIVERSE PORTFOLIO WITH GLOBAL REACH Home & Commercial Solutions 54%Learning & Development 36% Outdoor & Recreation 10% FY 2024 SEGMENT REVENUE United States 62%Canada 4% APAC 7% EMEA 16% LATAM 11% FY 2024 REGIONAL REVENUE Totals may not add due to rounding
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© Newell Brands 5 In 2023 NWL conducted a capability assessment which informed a new corporate strategy with clear “Where to Play” and “How to Win” choices. That strategy was implemented in 2024 with a new operating model, critical talent upgrades and a culture redesign NWL now (in 2025) has the right capability set to successfully compete and win with consumers and leading retailers NWL’s strategy is working as evidenced by improved top line trends, dramatic gross margin expansion and strong operating cash flow — with significant runway for future value creation KEY MESSAGES
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© Newell Brands 6 IN 2023, NWL BEGAN A MULTI-YEAR TURNAROUND BASED ON A CAPABILITY ASSESSMENT… CONSUMER & CUSTOMER UNDERSTANDING BRAND BUILDING INNOVATION BRAND COMMUNICATIONS GO-TO-MARKET & RETAIL EXECUTION INTERNATIONAL GO-TO-MARKET PROCUREMENT / STRATEGIC SOURCING END-TO-END SUPPLY CHAIN ENABLING CAPABILITIES HUMAN CAPITAL DATA INTEGRITY, REPORTING & ANALYTICS
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© Newell Brands 7 …WHICH INFORMED A NEW STRATEGY WITH CLEAR WHERE TO PLAY & HOW TO WIN CHOICES.
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© Newell Brands 8 Standardized the International Operating Model in top 10 countries Further centralized U.S. sales and created a New Business Development Team Formally established a consumer-first, Global Brand Management organization Centralized Supply Chain, Finance and HR, where standardization and scale matter NWL’s Simplification Agenda is ongoing IN 2024, NWL INSTALLED A NEW OPERATING MODEL…
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© Newell Brands 9 IN 2024, NWL INSTALLED A NEW TEAM… Instituted Brand Management ~50% Marketing Talent Upgraded >20% Reduction In VP+ Positions Leadership ~25% Of Remaining VP+ Positions Upgraded Marketing Implemented Exceptional Performance Standards A high performance / high accountability culture
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© Newell Brands 10 IN 2024, NWL INSTALLED A NEW CULTURE... Values Culture HIGH PERFORMANCE INNOVATIVE INCLUSIVE
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© Newell Brands 11 and Ball®, TM of Ball Corporation, used under license. FOCUS ON TOP 10 BRANDS OVER THE PAST 2+ YEARS, NWL HAS SIMPLIFIED ITS BRAND PORTFOLIO
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© Newell Brands 12 OVER THE PAST 2+ YEARS, NWL HAS SIMPLIFIED ITS BRAND PORTFOLIO Sold Licensed Shut Down Disposition Determined by Maximum NPV Slide reflects brand divestitures and exits occurring from 2022 through the present XPONENT
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© Newell Brands 13and Ball®, TM of Ball Corporation, used under license. OVER THE PAST 2+ YEARS, NWL HAS SIMPLIFIED ITS BRAND PORTFOLIO Learning & Development Home & Commercial Outdoor & Recreation TOP 25 BRANDS WHY NWL’S REMAINING BRANDS “FIT” TOGETHER 1. Same core competencies required to win 2. Common retail channels with selling synergies 3. Integrated supply chain and back-office
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© Newell Brands 14 KEY MESSAGES In 2023 NWL conducted a capability assessment which informed a new corporate strategy with clear “Where to Play” and “How to Win” choices. That strategy was implemented in 2024 with a new operating model, critical talent upgrades and a culture redesign NWL now (in 2025) has the right capability set to successfully compete and win with consumers and leading retailers NWL’s strategy is working as evidenced by improved top line trends, dramatic gross margin expansion and strong operating cash flow — with significant runway for future value creation
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© Newell Brands 15 NWL NOW HAS THE RIGHT CAPABILITIES TO SUCCESSFULLY COMPETE AND WIN… CONSUMER & CUSTOMER UNDERSTANDING BRAND BUILDING INNOVATION BRAND COMMUNICATIONS GO-TO-MARKET & RETAIL EXECUTION INTERNATIONAL GO-TO-MARKET PROCUREMENT / STRATEGIC SOURCING END-TO-END SUPPLY CHAIN ENABLING CAPABILITIES HUMAN CAPITAL DATA INTEGRITY, REPORTING & ANALYTICS
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© Newell Brands 16 CONSUMER & CUSTOMER UNDERSTANDING… 76,500+ Respondents 17 Countries 37 Segments Mapped Family-First Chefs Cooks for family; cooking brings health and joy bust also is necessary; kitchen fosters togetherness Togetherness Warmth • Joy Culinary Artists Gadget GourmetsLegacy Cooks Basic Meal Makers Kitchen AvoidersKitchen Performers The Nurturing Cook The Indifferent Cook Views cooking as necessary, but it also means family, memories, and heritage Traditional Nostalgic • Simple Wants to impress others with their cooking and kitchen; focuses on stylish and crowd- pleasing meals Stylish Status-Seeking • Social Views the kitchen as a creative canvas and a place for personal growth and low-stakes exploration Creative • Experimental Expressive Views cooking as a necessity and task, focusing on efficiency and budget-conscious methods Practical Efficient • Simple Cooking holds little to no personal significance Disengaged Quick • Minimal Intentional Tech-Savvy • Gearhead Loves to cook using top-of-the-line products; similar to a gearhead with cars 15% 19% 11% 17% 22% 5%11% $$$$ $$ $$$ $$$ $ $$$$$ Relationship with Kitchen Share of Market Relative Spend Global Kitchen Segmentation Report | 2Q 2024 | Global: n=19,314 (+/-1%) | United States: n=6,357 (+/-1%), Mexico: n=4,053 (+/-2%), United Kingdom: n=4,561 (+/-1%), Australia: n=4,343 (+/-1%)
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© Newell Brands 17 Talent Investment Global Brand Management Operating Model Data Driven Marketing Enhanced Media Capabilities BRAND BUILDING…
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© Newell Brands 18 BRAND COMMUNICATION…
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© Newell Brands 19 INNOVATION… WRITING
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© Newell Brands 20 INNOVATION… WRITING 2020 2021 2024 MSRP: $9.99 Cost per Stick: $1.25 MSRP: $9.99 Cost per Stick: $2.50 MSRP: $9.99 Cost per Stick: $9.99
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© Newell Brands 21 INNOVATION… WRITING
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© Newell Brands 22 INNOVATION… BABY CARE
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© Newell Brands 23 INNOVATION… BABY CARE
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© Newell Brands 24 INNOVATION… KITCHEN TURBOCHARGED BLENDING LIKE NEVER BEFORE Effortlessly power through ice, frozen fruit, and so much more POWER With its 2-horsepower, 1,500 peak watt motor, this countertop blender allows you to whip up smoothies, chunky salsas, and creamy nut butters with ease QUALITY BLADES A unique 10-blade stack features 4 titanium-coated blades to process whole fruits and vegetables in seconds MULTI-FUNCTIONAL Anti-jam blade allows for blade rotations in both directions and means no tamping, stirring, or shaking necessary EASY TO CLEAN Jar unit is dishwasher-safe with a safely detachable blade for easy cleaning DURABLE The 8-cup Boroclass glass jar resists odors, stains and scratches and can handle hot & cold temperatures
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© Newell Brands 25 INNOVATION… COMMERCIAL PRODUCTS
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© Newell Brands 26 INNOVATION… HOME FRAGRANCE Base Restage New Premium Offering
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© Newell Brands 27 INNOVATION… OUTDOOR & RECREATION
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© Newell Brands 28 INNOVATION… A MULTI-YEAR JOURNEY • 10,000+ margin dilutive SKUs launched • Limited consumer insights • Inconsistent process • Stopped the bleeding • Invested in consumer insights and brand management • Centralized governance and established consistent process • Rebuilt 3-year innovation pipeline • Differentiated benefits with superior claims • Creating front-end innovation capability • New launches drive growth, share and gross margin expansion • Innovation enhances brand equity and grows the category Lack of Consumer- Relevant Innovation Complete Reset Building a Healthy Pipeline Delivering Winning Innovation 2022 2023 2024 2026+ 2025
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© Newell Brands 29 GO TO MARKET & RETAIL EXECUTION… October 2025 Expanding October 2024 160 Doors June 2024 4 Doors Incremental POS achieved for category and Newell Brands (Over 30+ Weeks) BEFORE AFTER
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© Newell Brands 30 INTERNATIONAL GO TO MARKETINTERNATIONAL GO TO MARKET
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© Newell Brands 31 COMPETITIVELY ADVANTAGED GLOBAL TRADE EXPERTISE Centralized Classification & Valuation Ensures uniform tariff application, accurate product categorization, and precise duty rate calculations Foreign Trade Zones Operating 4 FTZs to reduce tariff costs. Cleared >1,600 containers before tariff implementations, avoiding $20M in costs Scaled Leverage & Flexibility on Port Selection Managing >40,000 container imports annually ensuring compliance and efficiency Free Trade Agreements Avoiding tariff exposures through automated compliance with USMCA and other international trade agreements Integrated Trade & Logistics Systems Global order management and trade platform with shipping, customs, and ERP systems for end-to-end visibility Centrally-Managed, Global Trade Team 500 years of collective expertise with fully-licensed customs brokers Newell can quickly pivot in a volatile trade environment, rapidly assessing exposure and executing mitigation strategies down to the segment, product category, and SKU-level FTZ FTZFTZ Enabling Resilience, Compliance & Cost Advantage NWL Global In-Transit Containers ~1,500 Currently on the Water FTZ
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© Newell Brands 32 END-TO-END SUPPLY CHAIN Invested ~$2B in U.S. manufacturing since 2017 Tax Cuts & Jobs Act Global Fill Rate >95%; highest rate ever achieved China to US sourcing reduced from 35%1 (several years ago) to <10%1 (by end of 2025) 42 plants strategically located around the world 19 “tariff advantaged” categories NWL is actively selling against 1 As a percentage of total global COGS
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© Newell Brands 33 Wisconsin (1) Indiana (2) Tennessee (4) North Carolina (1) Virginia (1) Massachusetts (1) Missouri (1) Ohio (1) Mexico (2) Kansas (3) Significant domestic manufacturing footprint (with ample capacity) Two Mexican facilities are 98% USMCA compliant END-TO-END SUPPLY CHAIN
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© Newell Brands 34 END-TO-END SUPPLY CHAIN 8 of NWL’s top 10 brands are manufactured in N. America
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© Newell Brands 35 2023 2024 2025 AI Use Cases # DEPLOYED # DEPLOYED 2024 2025 2026 AI Agents ENABLING CAPABILITIES HUMAN CAPITAL DATA INTEGRITY, REPORTING & ANALYTICS
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© Newell Brands 36 OVER THE PAST TWO YEARS NWL HAS BEEN FUNDAMENTALLY TRANSFORMED New Team, Culture, Operating Model & Brand Portfolio New Capabilities to Accelerate Performance Capability Assessment & New Corporate Strategy 2023 2024 2025
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© Newell Brands 37 KEY MESSAGES In 2023 NWL conducted a capability assessment which informed a new corporate strategy with clear “Where to Play” and “How to Win” choices. That strategy was implemented in 2024 with a new operating model, critical talent upgrades and a culture redesign NWL now (in 2025) has the right capability set to successfully compete and win with consumers and leading retailers NWL’s strategy is working as evidenced by improved top line trends, dramatic gross margin expansion and strong operating cash flow — with significant runway for future value creation
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© Newell Brands 38 NEW STRATEGY PROVIDES SIGNIFICANT RUNWAY FOR VALUE CREATION Innovation Pricing & Revenue Growth Management New Business Development TOP LINE ACCELERATION Plant Network Procurement Distribution & Transportation Overheads MARGIN EXPANSION 1 2 3 1 2 3 4 STRONG CASH FLOW International 4
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© Newell Brands 39 International NEW STRATEGY PROVIDES SIGNIFICANT RUNWAY FOR VALUE CREATION New Business Development TOP LINE ACCELERATION 3 4 Pricing & Revenue Growth Management 2 -14.7% -9.3% -4.5% -2.3% -2.1% 1H'23 2H'23 1H'24 2H'24 1Q'25 Total Company Core Sales 1 (y/y change) International: Core sales growth P5 quarters Tier 1&2 Innovation: 1 in ‘23 | 8 in ‘24 | ~15 in ‘25 Learning & Developing: Core sales growth P5 quarters Brand / Category Exits: Largely in the past Tariff Advantaged Categories: Actively being pursued Innovation 1 1Refer to appendix for reconciliation to GAAP figure
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© Newell Brands 40 Overheads NEW STRATEGY PROVIDES SIGNIFICANT RUNWAY FOR VALUE CREATIONMARGIN EXPANSION 4 Distribution & Transportation 3 TTM Normalized GM % +610 bps Plant Network: Strong automation program Distribution: Transportation costs down 40 bps in 2024 1 Procurement: Reduced # suppliers by 25% P3Y Overheads: 97% Sales on 1 ERP by 2026 Procurement 2 Plant Network 1 31.9% 1 Transportation costs as a % of freight prepaid sales
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© Newell Brands 41 MARGIN EXPANSION SIGNIFICANT RUNWAY FOR VALUE CREATION: PLANT NETWORK1 ✓ Six levels of attainment ✓ 0 plants in phases 4-6 ✓ 15 plants not yet started 1 Foundations (7 plants) 2 Basecamp (10 plants) 3 Climb 1 (10 plants) 4 Climb 2 (0 plants) 5 Climb 3 (0 plants) 6 Summit (0 plants) Expect 1% to 1.5% of COGS savings per year P E A K
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© Newell Brands 42 ✓ Reduced supply base ~45% since 2020 ✓ Improved supplier payment terms and reduced working capital requirements ✓ Harnessing supplier-led innovation ✓ Best-in-class duty / custom capability SIGNIFICANT RUNWAY FOR VALUE CREATION: PROCUREMENT Expect 2% to 3% of COGS savings per year MARGIN EXPANSION 2 28K 26K 24K 21K 18K ~16K 2020 2021 2022 2023 2024 2025 Outlook Supplier RationalizationProgress Made
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© Newell Brands 43 ✓ Optimized Ovid U.S. warehouse network ✓ Global Fill Rate >95% in 2024, 97% in Q1’25 ✓ Since 2022 NWL has reduced customer penalties and shortages by 66% ✓ Reduced transportation costs by 40bps in 20241 ✓ Reduced number of distributors across Latin America, Europe and Emerging Asian Markets by >40% SIGNIFICANT RUNWAY FOR VALUE CREATION: DISTRIBUTION AND TRANSPORTATION Expect up to 0.5% of COGS savings per year MARGIN EXPANSION 3 29 ~20 1H'23 1H'24 2026 Outlook Distribution Center Rationalization 1 Transportation costs as a % of freight prepaid sales Progress Made
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© Newell Brands 44 FUEL Productivity FUEL PRODUCTIVITY OPPORTUNITY REMAINS ✓ Best-in-class performance 2019+ ✓ FUEL encompasses: ✓ Manufacturing ✓ Procurement ✓ Distribution & transportation ✓ Significant opportunity remains <2% >3% ~6% ~4% 2017-2018 2019-2022 2023-2024 2025 Outlook FUEL Productivity Savings As % of COGS Best In Class = 3% FUEL: Finding Untapped Efficiencies & Leverage
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© Newell Brands 45 SIGNIFICANT RUNWAY FOR VALUE CREATION: OVERHEADS Expecting to deliver ~$60M of savings in 2025 MARGIN EXPANSION 4 ✓ Headcount down by 14% since 2022 ✓ Reduced office expense by 25% since 2022 ✓ ERP consolidation: expect 97% of sales on 1 system by end of 2026 (vs 42 ERPs in 2016) ✓ Legal entities down from ~550 in 2016 to ~227 currently 2.4M ~1M 122 <70 0 20 40 60 80 100 120 140 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 2018 2020 2022 2024 2026 Outlook OFFICE SPACE REDUCTION SF YE Office Count Progress Made
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© Newell Brands 46 NEW STRATEGY PROVIDES SIGNIFICANT RUNWAY FOR VALUE CREATION International New Business Development 3 4 Pricing & Revenue Growth Management 2 Overheads 4 Distribution & Transportation 3 MARGIN EXPANSION TOP LINE ACCELERATION New Business Development: Sales leverage Pricing: Improved price pack architecture Innovation: Gross margin accretive Revenue Growth Mgmt: Performance-based trade fund International: Higher gross margins than U.S. business Innovation 1 Procurement 2 Plant Network 1 1Refer to appendix for reconciliation to GAAP figure. Graph represents one year of gross margin expansion for Q3 2023 through Q2 2024 and two years of margin expansion for Q3 2024 through Q1 2025 2-Year Normalized GM Expansion (bps)1 600 600 470
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© Newell Brands 47 STRENGTHENING BALANCE SHEET & IMPROVING CASH FLOW ($272) $496 FY'22 FY'24 Operating Cash Flow 1 ($M) ✓ >$750M improvement in OCF and 30+ day CCC improvement (2024 vs. 2022) ✓ Q1’25 ~5-day improvement in CCC ✓ Reduced ~$175M of net debt in 2024 ✓ Refinanced senior unsecured notes in Oct 2024 and May 2025 ✓ Next bond maturity in Sept 2027 ($500M)2 ✓ Leverage ratio is coming down Progress Made 1Refer to appendix for reconciliation to GAAP figure 2Excluding an incidental $47M note which matures in December 2025, which is expected to be paid-off with available credit facilities and cash on hand
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© Newell Brands 48 9.6% 11.9% FY'23 FY'24 Normalized EBITDA to Net Sales ($M)1 STRONG EBITDA GROWTH HAS BROUGHT DOWN NWL’S LEVERAGE RATIO 1Refer to appendix for reconciliation to GAAP figure $782 5.8x 4.9x FY'23 FY'24 Leverage Ratio 1 $900 Normalized EBITDA growth of +15% from 2023 to 2024 Meaningful reduction in leverage ratio since implementation of new strategy Remain committed to achieving investment grade status at some point in future
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© Newell Brands 49 ~90% FCF Productivity 50 bps Operating Margin Improvement1 WE ARE COMMITTED TO PROFITABLE GROWTH AND STRONG CASH FLOW Low Single-Digit Core Sales Growth Long-Term Evergreen Annual Targets De-lever to 2.5x investment grade leverage ratio Capital Allocation Strategy Target 30% to 35% dividend payout ratio Fund high return internal growth opportunities 1Refers to normalized operating margin; on average and net of capability investments and anticipated higher advertising & promotion (A&P) spending
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© Newell Brands 50 In 2023 NWL conducted a capability assessment which informed a new corporate strategy with clear “Where to Play” and “How to Win” choices. That strategy was implemented in 2024 with a new operating model, critical talent upgrades and a culture redesign NWL now (in 2025) has the right capability set to successfully compete and win with consumers and leading retailers NWL’s strategy is working as evidenced by improved top line trends, dramatic gross margin expansion and strong operating cash flow — with significant runway for future value creation KEY MESSAGES
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Appendix Non-GAAP Reconciliations
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© Newell Brands 52 FY 2025 Guidance FY 2025 Net Sales (4%) – (2%) Core Sales (3%) – (1%) Operating Margin 9.0% – 9.5% EPS $0.70 – $0.76 2025 Outlook issued as of April 30, 2025.
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© Newell Brands 53 This presentation and the accompanying remarks contain non-GAAP financial measures within the meaning of Regulation G promulgated by the U.S. Securities and Exchange Commission (the "SEC") and includes a reconciliation of non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP. The Company uses certain non-GAAP financial measures both to explain its results to stockholders and the investment community and in the internal evaluation and management of its businesses. The Company’s management believes that these non-GAAP financial measures and the information they provide are useful to investors since these measures permit investors to view the Company’s performance and liquidity using the same tools that management uses to evaluate the Company’s past performance, reportable segments, prospects for future performance and liquidity and determine certain elements of management incentive compensation. “Core Sales Growth” is defined as the change in net sales from period to period, adjusted to exclude the impacts of acquisitions and divestitures, retail store openings and closings, and certain market and category exits, as well as changes in foreign exchange from year-over-year comparisons. The effect of changes in foreign exchange on reported sales is calculated by applying the prior year average monthly exchange rates to the current year local currency sales amounts (excluding acquisitions and divestitures), with the difference between the current year reported sales and constant currency sales presented as the foreign exchange impact increase or decrease in core sales. “EBITDA” is defined as net income (loss) before interest, taxes, depreciation and amortization. Normalized EBITDA is defined as net income (loss) before interest, taxes, depreciation and amortization, adjusted for certain items and non-cash stock-based compensation expense. For additional detail regarding these adjustments, please refer to the Company's press release announcing first quarter earnings furnished to the SEC on April 30, 2025. The Company defines "net debt" as short-term debt, current portion of long-term debt and long-term debt less cash and cash equivalents. "Leverage ratio" is a liquidity measure calculated as the ratio of net debt to Normalized EBITDA. While the Company believes these non-GAAP financial measures are useful in evaluating the Company’s performance and liquidity, this information should be considered as supplemental in nature and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ from similar measures presented by other companies. In January 2024, the Company announced a plan to strengthen its front-end commercial capabilities, such as consumer understanding and brand communication, in support of the “where to play” and “how to win” strategy choices the Company unveiled in June of 2023 (the “Realignment Plan”). In addition to improving accountability, the Realignment Plan was designed to unlock operational efficiencies and cost savings, reduce complexity and free up funds for reinvestment. The company has presented forward-looking statements regarding normalized earnings per share, normalized operating margin, free cash flow productivity and leverage ratio. These non-GAAP financial measures are derived by excluding certain amounts, expenses or income, from the corresponding financial measures determined in accordance with GAAP. The determination of the amounts that are excluded from these non-GAAP financial measures is a matter of management judgement and depends upon, among other factors, the nature of the underlying expense or income amounts recognized in a given period in reliance on the exception provided by Item 10(e)(1)(i)(B) of Regulation S-K. We are unable to present a quantitative reconciliation of such forward-looking normalized measures to their most directly comparable forward-looking GAAP financial measures because such information is not available, and management cannot reliably predict all of the necessary components of such GAAP measures without unreasonable effort or expense. In addition, we believe such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on the company's future financial results. These non-GAAP financial measures are aspirational goals and are subject to risks and uncertainties, including, among others, changes in connection with quarter-end and year-end adjustments. Any variation between the company's actual results and the forward-looking measures set forth above may be material. Change to Normalization Practice In addition to its GAAP results, the Company has provided and will continue to provide certain non-GAAP financial measures, referred to as “normalized” measures, which provide investors supplementary information helpful in understanding the company's underlying operating performance. Commencing in the third quarter of 2024, the company changed its normalization practice. Historically, the company has excluded from normalized results inventory write-downs and accelerated depreciation charges relating to restructuring and exit activities that were reflected within its restructuring-related costs non-GAAP adjustment. Beginning in the third quarter 2024, the company no longer excludes these charges from its normalized results. The company has also ceased to exclude from normalized results prior period adjustments related to a bad debt reserve and subsequent recovery with respect to the bankruptcy of an international customer. We have recast prior periods presented in this presentation to conform to current period presentation. The company will continue to provide normalized measures which exclude the impact of restructuring costs and restructuring-related costs (other than inventory write-downs and accelerated depreciation), acquisition-related amortization expense and impairment charges, pension settlement losses and other items. Non-GAAP Information
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© Newell Brands 54 Reconciliation of GAAP and Non-GAAP Information (Unaudited)
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© Newell Brands 55 Reconciliation of GAAP and Non-GAAP Information (Unaudited)
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© Newell Brands 56 Reconciliation of GAAP and Non-GAAP Information (Unaudited)
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© Newell Brands 57 Reconciliation of GAAP and Non-GAAP Information (Unaudited)
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© Newell Brands 58 Reconciliation of GAAP and Non-GAAP Information (Unaudited)
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© Newell Brands 59 Reconciliation of GAAP and Non-GAAP Information (Unaudited)
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© Newell Brands Slide 60