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Fiscal Year 2013

Fourth Quarter

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Except for the historical information contained herein, this news release contains forward-looking statements concerning WD-40 Company's outlook for sales, earnings, dividends and other financial results. These statements are based on an assessment of a variety of factors, contingencies and uncertainties considered relevant by WD-40 Company. Forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from the forward-looking statements, including impacts of promotional programs, impacts of line extensions and the uncertainty of market conditions, both in the United States and internationally. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, but there can be no assurance that the Company's expectations, beliefs or projections will be achieved or accomplished. The risks and uncertainties are detailed from time to time in reports filed by WD-40 Company with the SEC, including Forms 8-K, 10-Q, and 10-K, and readers are urged to carefully review these and other documents. The information contained in this presentation is a review of the Company’s fourth quarter and fiscal year results for the periods ended August 31, 2013 and 2012. We urge investors to stay informed and updated on the Company’s developments by reviewing the Company’s quarterly press releases and conference calls as they are posted on the website: www.wd40company.com (Investor Relations).

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http://www.wd40company.com/

WHO ARE WE?

4

Guiding Principles

Vision

• Create positive lasting memories by solving problems in homes and factories around the world. (“Problem Solved, Job Done Right”)

Mission

• Our purpose is to deliver unique, high value and easy-to-use solutions for a wide variety of maintenance needs of “doer” and “on-the job” users by leveraging and building the brand fortress of WD-40 Company. We seek to develop and acquire brands readily accessible to end-users primarily through automotive, hardware, DIY, and industrial channels, categories, or departments…wherever they are sold.

Values

• We value doing the right thing. (Trust)

• We value creating positive lasting memories in all our relationships. (Relationships)

• We value making it better than it is today. (Creative Innovation)

• We value succeeding as a tribe while excelling as individuals. (Teamwork)

• We value owning it and passionately acting on it. (Action)

• We value sustaining the WD-40 Company economy. (Economic Value)

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STRATEGIC INITIATIVES

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OUR PEOPLE

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People - Products - Passion

Typhoon Zone

Servant leadership with edge

Review

Values

Planning

Execution

Vision

Learning Moment

Learning Don’t mark my

paper help me get an “A”

Results in a tribal culture that values:

•Caring

•Candor

•Accountability

•Responsibility

What mountain do we want to climb?

Values are principles that guide our

behavior

© 2010 The Learning Moment Inc. All rights reserved. Do not duplicate.

thelearningmoment.net

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OUR BRANDS

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Celebrating 60 years

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Identify & establish geographic WD-40 MUP User Base

Channel development – multi trade channel distribution – execute “The Secret”

WD-40 MUP end user trust established with multi platform usage – “Memories” = EQUITY

General Maintenance

Products

Lawn & Garden

Landscaping Motor Bike New Category New Category New Category

Flanker & new category products – WD-40 Specialist product line

Bundle Bundle Bundle

Grow the core





Bundle Bundle Bundle 13

http://www.google.co.uk/url?sa=i&rct=j&q=world+map&source=images&cd=&cad=rja&docid=5JpheUdUFz_UiM&tbnid=3-cphsn26-jVfM:&ved=0CAUQjRw&url=http://www.worlddutyfreegroup.com/lang/en/our-stores/&ei=dLgTUdDOCJGb1AXNuYCACQ&bvm=bv.42080656,d.d2k&psig=AFQjCNH-dhf3XCln6KXx7354Ksondm36qA&ust=1360333243718530

Mental Awareness

Physical Awareness

Make the end user aware and make it easy to buy

The Power of the Shield Leveraging the trust of the brand

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Physical Awareness

Make it easy to buy

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OUR END USERS

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Auto Pro MRO

At-Home – “Non-Enthusiast”

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Continuum of End-Users for Maintenance Products

Industrial Home Trades Class

Manufacturing & Assembly No Go

Go

Doers Enthusiast

Doers Occasional

Non-Doers Type

On the Production Line

Maintenance

Repair Overhaul

MRO

Mechanic Farmer Fleet Construction

Carpenter Electrician Plumbers Maintain Repair

User Auto, home Improve. DIY, Maintain, Outdoors, Hobbyist

Maintain

Repair, Overhaul, Maintain, Install @ factory, trade, home

Central buyer / Facility Manager / Owner Owner / User User Buyer

Distributor / Pro Outlet Buy Loc- ation Industrial/trade distributors / wholesalers,

automotive, DIY, hardware retail

Retail

Auto, DIY, hardware retail or departments wherever they are sold

Distributor / Pro Outlet

As left + Auto, DIY, Farm, Hardware, distributor

Specified Range

Specific Knowledge

Specific Application

Decision Factor

In Process or on finished goods

In Maintenance In Project or Maintenance Non-User Use In maintenance

Our playground 19

INVESTMENT

PERFORMANCE

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Five Year Comparison of Total Shareholder Return

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$40

$60

$80

$100

$120

$140

$160

$180

$200

FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013

Value of $100 invested on August 31, 2008

WD-40 Company S&P 500 Russell 2000

What drove that

PERFORMANCE?

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$- $20 $40 $60 $80

$100 $120 $140 $160 $180 $200 $220 $240 $260 $280 $300 $320 $340

FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13

Global MPMP - 10 Year View - All Years at FY13 FX Rates

Global MPMP

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$-

$20

$40

$60

$80

$100

$120

$140

$160

FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13

MPMP by Trade Bloc - 10 Year View - All Years at FY13 FX Rates

Americas EMEA AsiaPac

Investment Snapshot Global, diverse business…

WD-40 sold in 187 countries worldwide.

More than half of revenues were outside the US.

Brands sold in multiple channels: retail, industrial, institutional.

Portfolio of 11 brands.

Efficient Operation…

369 employees during FY13.

Sales per employee of $1.0M.

Net income per employee of $0.1M in FY13.

Asset-light strategy…

Average annual capex needs of $3.2M FY11-FY13.

Outsourced manufacturing and distribution.

Current and long-term return to shareholders...

Dividend yield of 1.9%.*

Dividend payout ratio of 47%.*

Dividend increases of 7%-8% in

FY11, FY12 and FY13

Share repurchases of $41M in FY11, $40M in FY12, and $31M in FY13

Existing $60M share buy-back plan through August 2015.

Focused on creating value…

ROIC emphasis. ROIC was 21.9% in FY11, 23.1% in FY12 and 22.0% in FY13.

Employee bonuses tied to sales and profit targets.

Priority in new product development (NPD) investment…

NPD has touched every brand.

New products delivered more than $33M in sales from FY11-FY13.

NPD priority is MPMP category

Small Market Cap…

$983.8M*

15.3M shares outstanding***

Ownership…

Insiders: 6%*

Institutions: 72%*

Institutions holding 5% or more shares : BlackRock, Parnassus Investments, Kayne Anderson Rudnick, Ceredex Value Advisors, The Vanguard Group **

Statistics as of FY13 unless noted otherwise *as of 10/4/2013 Source: Nasdaq Online

**13F Report date 6/30/2013 *** per 8/31/13 Balance Sheet

Financial Foundation…

Strong balance sheet

Strong free cash flow

Strong liquidity & access to capital

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Dividend

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50 / 30 / 20 RULE

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50 Gross margin–At or above 50% of net sales

- 30 Cost of doing business–At or below 30%

____ of net sales1

=20 EBITDA – At or above 20% of net sales1

1 See appendix for descriptions and reconciliations of these non-GAAP measures.

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The 50 / 30 / 20 Rule

•The “50” or Gross margin improvement

• Product Development • New Product introductions

• Product reformulations

• Operational efficiencies

• Mix - Product mix and market mix

• Pricing – as needed to offset input cost increases

The 50 / 30 / 20 Rule

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FY14 >50%

FY13 51%

FY12 49%

•The “30” or Leveraging our global infrastructure

• 75% of the “30” in 3 areas

Our People – Investments in our tribe

Investments in marketing, advertising and promotion

Freight – the cost of getting our products to our customers

Advertising & Sales

Promotion

Freight

Personnel

Professional Services

Office Overhead

Travel & Meeting Expenses

R&D Project Expenses

Broker Commissions

Insurance

All Other

% COB

The 50 / 30 / 20 Rule

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Revenue growth is key to achieving the “30” target

What makes up the cost of a can?

Approximate Cost Breakdown of a can of WD-40

40%

10%29%

19%

2%Petroleum-based products

Manufacturing Fees

Can

Plastic

Corrugate

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*As of August 2013

RESULTS

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• Net sales increased $8.6 million, or 10%. Sales growth in Multi-purpose maintenance products more than offset sales declines in Homecare & cleaning products.

• Gross margin was 53.0% compared to 49.4% in the prior fiscal year period. The increase was driven by price increases and the favorable impact from strategic initiatives, sales mix and changes in foreign currency exchange rates.

• Higher gross profit was more than offset by higher operating expenses, which increased due to higher bonus and employee expenses, as well as higher A&P investment and other costs.

• Net income decreased $0.8 million, or 9%. Diluted earnings per common share were $0.53 versus $0.56 in the prior fiscal year period.

• We repurchased $9.1 million of our shares during the quarter.

Q4 FY13 Highlights

Q4 FY13 vs. Q4 FY12

($M) FY13 FY12 Change

Sales 93.5$ 84.9$ 10%

Gross Profit % 53.0% 49.4% 360 bp

Op Income 11.4$ 13.6$ -16%

Net Income 8.1$ 9.0$ -9%

EPS (Diluted) 0.53$ 0.56$ -5%

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Q4 FY13 vs. Q4 FY12 Constant Currency Basis*

($M) FY13CC FY12 Change

Sales 94.6$ 84.9$ 11%

Op Income 11.6$ 13.6$ -15%

Net Income 8.3$ 9.0$ -8%

EPS (Diluted) 0.53$ 0.56$ -5%

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*Q4 FY13 results translated at Q4 FY12 exchange rates

Q4 FY13 Compared to Q4 FY12

Sales – $93.5M, Up 10%

• Multi-purpose maintenance products up

16%

• Homecare & cleaning products down 16%

• Americas up 1%, EMEA up 25%, and Asia

Pacific up 10%

Operating Expenses - $38.1M, Up 35%

• SG&A up $7.8M driven by higher bonus

and other employee-related costs, as well

as travel and meeting expenses

• A&P investment up $0.6M, primarily due

to higher investment in the WD-40

Specialist product line

Gross Margin – 53.0% vs. 49.4% (+3.6pp)

• Price increases (+1.1pp)

• Higher discounts (-0.1pp)

• Changes in petroleum-based material costs

and aerosol can costs (+0.6pp)

• Changes in other raw material costs and

manufacturing costs (-0.1pp)

• COG areas impacted by the North American

supply chain architecture project (+0.2pp)

• Lower COGS in China due to local sourcing

(+0.1pp)

• FX Impact in Europe (+0.7pp)

• Impact from changes in sales mix and other

misc (+1.1pp)

FX Impact – Constant Currency vs. Reported

• At FY12 FX rates, sales would have been higher by $1.2M

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YTD FY13 vs. YTD FY12


Sales 368.5$ 342.8$ 8%

Gross Profit % 51.3% 49.2% 210 bp

Op Income 56.6$ 51.7$ 9%

Net Income 39.8$ 35.5$ 12%

EPS (Diluted) 2.54$ 2.20$ 15%

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YTD FY13 vs. YTD FY12 Constant Currency Basis*


Sales 370.5$ 342.8$ 8%

Op Income 57.0$ 51.7$ 10%

Net Income 40.0$ 35.5$ 13%

EPS (Diluted) 2.55$ 2.20$ 16%

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*YTD FY13 results translated at YTD FY12 exchange rates

YTD FY13 Compared to YTD FY12

Sales – $368.5M, Up 8%


12%


• Americas up 2%, EMEA up 16%, and Asia

Pacific up 7%


• SG&A up $15.5M driven by higher bonus

and other employee-related costs, as well

as travel and meeting expenses

• A&P investment down $0.9M driven by

lower investment in homecare and

cleaning products in the Americas

Gross Margin – 51.3% vs. 49.2% (+2.1pp)


• Lower discounts (+0.4pp)


and aerosol can costs (+0.2pp)

• Changes in other raw material costs and

manufacturing costs (-0.1pp)

• COG areas impacted by the North American

supply chain architecture project (+0.3pp)

• Lower COGS in China due to local sourcing

(+0.2pp)

• Impact from changes in sales mix and other

misc was negligible



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3 Year Trend

40

$320

$330

$340

$350

$360

$370

$380

FY11 FY12 FY13

Net Sales $M

48.0%

48.5%

49.0%

49.5%

50.0%

50.5%

51.0%

51.5%

FY11 FY12 FY13

Gross Margin %

$34.0

$35.0

$36.0

$37.0

$38.0

$39.0

$40.0

FY11 FY12 FY13

Net Income $M

Fiscal Year Results FY12 vs. FY11


Sales 342.8$ 336.4$ 2%

Gross Profit % 49.2% 50.0% -80 bp

Op Income 51.7$ 54.1$ -4%

Net Income 35.5$ 36.4$ -3%

EPS (Diluted) 2.20$ 2.14$ 3%

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Fiscal Year Results FY12 vs. FY11 Constant Currency Basis*


Sales 343.8$ 336.4$ 2%

Op Income 52.0$ 54.1$ -4%

Net Income 35.7$ 36.4$ -2%

EPS (Diluted) 2.21$ 2.14$ 3%

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*YTD Q4 FY12 results translated at YTD Q4 FY11 exchange rates

FY12 Compared to FY11

Sales – $342.8M, Up 2%


3%


• Americas up 4%, EMEA down 7%, and

Asia-Pacific up 18%


• SG&A up $1.6M primarily due to higher

employee related expenses, as well as

higher professional services and freight

costs

• A&P investment is up by $0.6M, due to a

higher level of activities in our Asia-

Pacific segment

Gross Margin – 49.2% vs. 50.0% (-0.8pp)



and aerosol can costs (-1.1pp)

• Higher costs for other raw materials (-0.6pp)

• Net lower manufacturing costs in China

(+0.3pp)

• Net impact from the supply chain architecture

project (-0.6pp)

• FX Impact in Europe (-0.2pp)

• All other impacts/sales mix (-0.8pp)



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FISCAL YEAR 2014 GUIDANCE

AS OF OCTOBER 2013

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• Sales growth between 4% and 8%, with Net Sales of $383-$398 million

• Gross margin close to 51%

• A&P investment in the range of 6.5% and 7.5% of Net Sales

• Net Income of $40.5-$42.8 million

• Diluted EPS of $2.65 to $2.80 based on estimated 15.3 million shares outstanding

Fiscal Year 2014 guidance

Conditions that impact our outlook

• Global economic recovery and expansion or ….at least

stability

• Initiatives to maximize multi-purpose maintenance products

– the continued launch of WD-40 Specialist products

• Gross Margin

-Grow gross margin to 50% or more of net sales

-Stability in key input costs – petroleum-based spirits & steel

• Stabilized Homecare & Cleaning product revenues

• Current foreign currency exchange rates

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Favorable

Uncertain

Unfavorable

LAST WORD

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Key Takeaways

• RESULTS FOR FY13

Net sales increased $25.8 million, or 8%. Sales growth in Multi-purpose

maintenance products more than offset sales declines in Homecare & cleaning

products.

Our strategic initiatives helped us to grow our gross margin to 51.3%, above our

target of 50%.

Net income increased $4.3 million, or 12%. Diluted earnings per share grew from

$2.20 to $2.54 per share.

•OUR PERSPECTIVE

Our FY14 guidance includes sales growth of 4% to 8% with diluted EPS of $2.65 to

$2.80 for fiscal year 2014.

We are excited about the future opportunities we see!

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APPENDIX

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50 / 30 / 20 Rule

Measure of Net Sales Target FY13 FY12 FY11

Gross Margin 50% 51% 49% 50%

Cost of Doing Business* 30% 35% 33% 33%

EBITDA* 20% 17% 16% 17%

* See next slide in appendix for descriptions and reconciliations of these non-GAAP measures.

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(1) This presentation contains certain non-GAAP (accounting principles generally accepted in the United States of America) measures, that our management believes provide our shareholders with additional insights into WD-40 Company’s results of operations and how it runs its business. Our management uses these non-GAAP financial measures in order to establish financial goals and to gain an understanding of the comparative performance of the Company from year to year or quarter to quarter. The non-GAAP measures referenced in this presentation, which include EBITDA (earnings before interest, income taxes, depreciation and amortization) and the cost of doing business, are supplemental in nature and should not be considered in isolation or as alternatives to net income, income from operations or other financial information prepared in accordance with GAAP as indicators of the Company’s performance or operations. Reconciliations of these non-GAAP financial measures to WD-40 Company’s financial statements as prepared under GAAP are as follows:

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Three Months Three Months

Cost of Doing Business Ended 8/31/13 Ended 8/31/12

Total Operating Expenses- GAAP $38,147 $28,339

Amortization of definite-lived intangible assets ($806) ($464)

Impairment of definite-lived intangible assets ($1,077)

Depreciation (in Operating Departments) ($497) ($408)

Cost of doing business $35,767 $27,467

Net Sales $93,469 $84,851

Cost of doing business as % of net sales 38% 32%

Three Months Three Months

EBITDA Ended 8/31/13 Ended 8/31/12

Net Income- GAAP $8,141 $8,973

Income Tax Expense $3,096 $4,435

Interest income ($144) ($79)

Interest expense $210 $245

Amortization of definite-lived intangible assets $806 $464

Depreciation $788 $714

EBITDA $12,897 $14,752

Net Sales $93,469 $84,851

EBITDA as % of net sales 14% 17%


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Twelve Months Twelve Months



Amortization of definite-lived intangible assets ($2,260) ($2,133)

Impairment of definite-lived intangible assets ($1,077)

Depreciation (in Operating Departments) ($1,851) ($1,597)


Net Sales $368,548 $342,748







Interest expense $693 $729

Amortization of definite-lived intangible assets $2,260 $2,133

Depreciation $3,099 $2,736

EBITDA $62,413 $56,250

Net Sales $368,548 $342,748






Amortization of definite-lived intangible assets ($2,133) ($1,537)

Depreciation (in Operating Departments) ($1,597) ($1,637)


Net Sales $342,748 $336,409







Interest expense $729 $1,076

Amortization of definite-lived intangible assets $2,133 $1,537

Depreciation $2,736 $2,849

EBITDA $56,250 $58,765

Net Sales $342,748 $336,409


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