H B Fuller : Investor Presentation – July 2021

H.B. Fuller Investor Presentation July 2021

Safe Harbor Statement	2

Certain matters discussed today may include 'forward looking statements' as that term is defined under the Private Securities Litigation Reform Act of 1995. Since such statements reflect our current expectations, actual results may differ as they are subject to the kinds of risks that are enumerated in the Company's Securities and Exchange Commission (SEC) filings. The Company disclaims any obligation to subsequently revise any forward-looking statements to reflect actual events or circumstances after the date of such statements. Many of the risks and uncertainties are, and will be, exacerbated by COVID-19 and any worsening of the global economic environment as a result.

Regulation G

The information presented during today's meeting regarding consolidated and segment organic revenue growth, adjusted gross profit, adjusted selling, general and administrative expense, adjusted diluted earnings per share, earnings before interest, taxes, depreciation, and amortization (EBITDA) does not conform to generally accepted accounting principles (GAAP) and should not be construed as an alternative to the reported results determined in accordance with GAAP. Management has included this non-GAAP information to assist in understanding the operating performance of the Company and its operating segments as well as the comparability of results. The non-GAAP information provided may not be consistent with the methodologies used by other companies. All non-GAAP information is reconciled with reported GAAP

results in the company's press releases available on the company's website, with the exception of our forward looking non-

GAAP measures, which the company cannot reconcile to forward-looking GAAP measures without unreasonable effort.

Additional Information

Please refer to our recent press release and annual report for the year ended November 28, 2020, on Form 10-K, and our quarterly Forms 10-Q, filed with the Securities and Exchange Commission, and available on our website at www.hbfuller.com in the Investors section.

First Half 2021 Financial Results Recap

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1H 2021

HIGHLIGHTS

1H21	2021	%YoY	% YoY
2020	2019
Revenue	$1,553	+17.5%	+8.5%
Organic*		+14.7%	+9.1%
Adj. EPS*	$1.60	+58%	+32%
Adj EBITDA*	$222	+25%	+9%
% of Revenue	14.3%	+ 80 bps	+ 10 bps

• Financial performance up vs. 2020 and pre-COVID 2019
• Strong operational execution in improving demand environment
• Capitalizing on share gains as end markets improve
• Benefits from business realignment on agility and profitability
• Strong 1H debt paydown of $62M up 20% vs. 1H 2020
• Maintaining FY EBITDA guidance range: stronger forecasted volume growth and pricing expected to offset higher input costs

1H 2021 YoY	HHC	Engineering	Construction	Total
Revenue	$700 M	$658 M	$195 M	$1,553 M
YoY Organic growth vs. 2020*	+5.4%	+30.2%	+7.4%	+14.7%
YoY Organic growth vs. 2019*	+8.9%	+13.0%	-0.6%	+9.1%

* Please see Appendix for reconciliations of adjusted non-GAAP metrics to the nearest GAAP measure

Customer-Aligned Global Business Units	4

		Engineering		Hygiene, Health &		Construction
			Consumable
		Adhesives			Adhesives
			Adhesives
FY 2020 Financials*		$1.1B Revenue		$1.3B Revenue		$0.4B Revenue
		15.4% EBITDA		13.7% EBITDA		14.0% EBITDA
Targeted EBITDA %		High teens to 20%		Mid teens		High teens

• Enhanced strategic alignment with greater agility in customer engagement
• Streamlined functional operations with lower cost to serve customers
• Result is >5% reduction in SG&A expense (~$35 million of savings)
• Also initiated Operations & Supply Chain project in 2020 (est. $20 - 30M of streamlined costs)
• Total run rate savings of both projects of $55 - 65M, beginning in 2020, fully realized in 2022

* Please see Appendix for reconciliations of adjusted non-GAAP metrics to the nearest GAAP measure

Strong Performance in Improving Demand Environment

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• Our agility, collaboration and speed are competitive advantages for H.B. Fuller in a world transformed by COVID-19, supply shortages and input pricing volatility
• Delivering market-driven, high value and new, environmentally-sustainable adhesive innovations to meet high customer demand
• Strong growth versus 2020 and pre-COVID 2019 results
• Focus on strategic pricing to value, and on managing inflation risks
• Driving value through our rising leadership in global adhesives