Carlisle Incorporated : Presentation PDF 1.02 MB

4th Quarter 2021

Earnings Call

February 10, 2022

Forward Looking Statements & Non-GAAP Financial Measures

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally use words such as "expect," "foresee," "anticipate," "believe," "project," "should," "estimate," "will," "plans," "forecast," and similar expressions, and reflect our expectations concerning the future. It is possible that our future performance may differ materially from current expectations expressed in these forward-looking statements, due to a variety of factors such as: increasing price and product/service competition by foreign and domestic competitors, including new entrants; technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; our mix of products/services; increases in raw material costs which cannot be recovered in product pricing; domestic and foreign governmental and public policy changes including environmental and industry regulations; threats associated with and efforts to combat terrorism; protection and validity of patent and other intellectual property rights; the successful integration and identification of our strategic acquisitions; the cyclical nature of our businesses; and the outcome of pending and future litigation and governmental proceedings. In addition, such statements could be affected by general industry and market conditions and growth rates, the condition of the financial and credit markets, and general domestic and international economic conditions including interest rate and currency exchange rate fluctuations. Further, any conflict in the international arena may adversely affect general market conditions and our future performance. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward- looking statements contained in this press release. We undertake no obligation to update any forward-looking statement.

Our management uses non-GAAP financial measures in assessing and evaluating the Company's and its segments' performance, which exclude items we consider non-comparable items. We believe the use of such financial measures and information may be useful to investors. Non-GAAP financial measures should be read in conjunction with the GAAP financial measures, as non-GAAP measures are a supplement to, and not a replacement for, GAAP financial measures. Please refer to the appendix (slides 20 through 27) for a reconciliation of non-GAAP financial measures to the related GAAP financial measures. Throughout this presentation each non-GAAP measure is denoted with an *.

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4Q21 Highlights

• Delivered record 4Q sales, Adjusted Diluted EPS and Adjusted EBITDA
• Growth accelerating in 2022 - solid demand fundamentals still in place across all our businesses
• CCM overcame challenge of historic demand levels to deliver the Carlisle Experience
• Proactive pricing in anticipation of higher raw material costs offset supply chain and labor constraints
• Henry integration exceeding expectations

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Vision 2025 Update

• Delivered organic growth in excess of 26%
• Proactive price actions offset raw material and freight inflation in 4Q, leading to net price/cost neutrality for FY21
• Henry acquisition exceeding expectations - now expect Adjusted Diluted EPS accretion of $1.50+ in 2022, up from $1.25 in original plan
• Returned capital to shareholders in 4Q:
• • $28 million of dividends, $113 million YTD
  • $25 million of share repurchases, $316 million YTD

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Continued Progress on Commitment to ESG

• Making progress on energy audits at our facilities; we will make a formal commitment to net-zero carbon emissions in the near future.
• Broke ground on Sikeston, Missouri state-of-the-art polyiso insulation facility built to LEED standards
• Doubled number of ISO14001 facilities from 2020 to 2021
• Placed order for Tesla Model 3 and Ford F150 Lightning
  EVs to replace CCM's sales and service fleet
• Named one of America's Most Responsible Companies 2022 by Newsweek

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