H B Fuller : Q1 2022 H.B. Fuller Company Earnings Call Presentation

First Quarter 2022 Conference Call

Investor Presentation

St. Paul, MN

March 24, 2022

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Safe Harbor & Regulation G

Safe Harbor Statement

Certain matters discussed today may be considered forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements reflect our current expectations, and 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.

Regulation G

The information presented in this presentation regarding adjusted gross profit and margin, adjusted selling, general and administrative expense, adjusted income before income taxes and income from equity investments, adjusted income taxes, adjusted effective tax rate, adjusted net income, adjusted diluted earnings per share and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) does not conform to U.S. generally accepted accounting principles (U.S. GAAP) and should not be construed as an alternative to the reported results determined in accordance with U.S. 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 to the results of other companies. The non-GAAP information provided may not be consistent with the methodologies used by other companies. All non-GAAP information is reconciled with reported U.S. GAAP results in the "Regulation G Reconciliation" tables except for our forward-lookingnon-U.S. GAAP measures contained in our fiscal 2022 financial guidance, which the company cannot reconcile to forward-looking U.S. GAAP results without unreasonable effort.

Additional Information

Please refer to our annual report on Form 10-K, filed with the SEC, and available on our website at www.investors.hbfuller.com.

Q1 2022 Investor Presentation

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Q1 2022 Results

Highlights

• Strong start to fiscal 2022
• • Organic revenue up 21% year over year
  • Adjusted EPS of $0.80, up 21% year over year
  • Adjusted EBITDA of $113M, up 12% year over year
• Strong performance across the business
• • Mid-teensor higher organic revenue growth in each GBU
  • Volume growth & pricing realization in each GBU
  • Implementing pricing actions to more than offset significant input cost inflation
  • Carefully monitoring impact from war in Ukraine on global economics and supply chain
• Delivering strong and consistent results through turbulent environments
• • Strong operational execution across the company
  • Our innovation-led strategy is driving our growth
  • Meeting high demand for adhesive solutions for electronics, transportation, new energy, sustainable solutions for buildings and durable goods

Q1 2022 Investor Presentation

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Q1 2022 Global Segment Summary

Hygiene, Health and Consumables Adhesives (HHC)

•21% organic revenue growth YoY

•Strong growth across HHC, especially Packaging, Health and Beauty and Tapes and Labels •EBITDA +4% YoY; volumes + pricing to drive sequential margin improvement over the year

Engineering Adhesives (EA)

•17% organic revenue growth YoY

•Strong double-digit growth in Transportation, New Energy, Woodworking & Insulating Glass •EBITDA +4% YoY; volumes + pricing to drive sequential margin improvement over the year

Construction Adhesives (CA)

•38% organic revenue growth YoY

•Strong growth led by Commercial Roofing - high demand, share gains and pricing •EBITDA margin +600 bps YoY: volume leverage, pricing and operational execution •Closed Fourny & Apollo acquisitions which significantly expand our CA footprint in Europe

Q1 2022 Investor Presentation

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Key Financial Results Summary

Q1 2022 Investor Presentation