This presentation contains both historical and forward-looking statements. Forward-looking statements are not based on historical facts but instead reflect our

expectations, estimates or projections concerning future results or events, including, without limitation, statements regarding the planned separation of the Household

Products and Personal Care businesses, the timing of any such separation, the future earnings and performance of Energizer Holdings or any of its businesses,

including the Household Products and Personal Care businesses on a standalone basis if the separation is completed. These statements generally can be identified by

the use of forward-looking words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "intend," "belief," "estimate," "plan," "target,"

"predict," "likely," "will," "should," "forecast," "outlook," or other similar words or phrases. These statements are not guarantees of performance and are inherently

subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results to differ materially from those

indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. The forward-looking statements included

in this document are only made as of the date of this document and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent

events or circumstances. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking

statements, including, without limitation:

-- Whether the separation of the Household Products and Personal Care businesses is completed, as expected or at all, and the timing of any such separation;

-- Whether the conditions to the separation can be satisfied;

-- Whether the operational, marketing and strategic benefits of the separation can be achieved;

-- Whether the costs and expenses of the separation can be controlled within expectations;

-- General market and economic conditions;

-- Market trends in the categories in which we operate;

-- The success of new products and the ability to continually develop and market new products;

-- Our ability to attract, retain and improve distribution with key customers;

-- Our ability to continue planned advertising and other promotional spending;

-- Our ability to timely execute strategic initiatives, including restructurings, in a manner that will positively impact our financial condition and results of operations and

does not disrupt our business operations;

-- The impact of strategic initiatives, including restructurings, on our relationships with employees, customers and vendors;

-- Our ability to maintain and improve market share in the categories in which we operate despite heightened competitive pressure;

-- Our ability to improve operations and realize cost savings;

-- The impact of raw material and other commodity costs;

-- The impact of foreign currency exchange rates and currency controls, particularly in Venezuela and Argentina, as well as offsetting hedges;

-- Goodwill impairment charges resulting from declines in profitability or estimated cash flows related to intangible assets or market valuations for similar assets;

-- Our ability to acquire and integrate businesses, and to realize the projected results of acquisitions;

-- The impact of advertising and product liability claims and other litigation;

-- Compliance with debt covenants as well as the impact of interest and principal repayment of our existing and any future debt; or

-- The impact of legislative or regulatory determinations or changes by federal, state and local, and foreign authorities, including taxing authorities.

In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of any such forward-looking statements. The

list of factors above is illustrative, but by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.

Additional risks and uncertainties include those detailed from time to time in Energizer's publicly filed documents, including its annual report on Form 10-K for the year

ended September 30, 2013 and its quarterly report on Form 10-Q for the quarter ended March 31, 2014.

Trademarks and Brands

We use “Energizer” and the Energizer logo as our trademarks. Product names and company programs appearing in this

presentation are trademarks of Energizer Holdings, Inc. or its subsidiaries. This presentation also may refer to brand

names, trademarks, service marks and trade names of other companies and organizations, and these brand names,

trademarks, service marks and trade names are the property of their respective owners.

Regulation G – Non-GAAP Financial Measures

While the Company reports financial results in accordance with accounting principles generally accepted in the U.S.

(“GAAP”), this presentation includes non-GAAP measures. These non-GAAP measures are not in accordance with, nor are

they a substitute for, GAAP measures. The Company believes these non-GAAP measures provide a more meaningful

comparison to the corresponding reported period and assist investors in performing analysis consistent with financial models

developed by research analysts. Investors should consider non-GAAP measures in addition to, not as a substitute for, or

superior to, the comparable GAAP measures. A full reconciliation of GAAP to adjusted EPS is provided at the end of the

presentation.

Financial update

Segment overview

–Household Products

–Personal Care

Separation status

YTD results

2014 Outlook

Restructuring Project

Working Capital Initiative

Adjusted EPS of $5.45* – in-line with internal

expectations

Restructuring savings ahead of plan

Working capital reductions continue

Feminine Care acquisition accretion of $0.36

* Excludes acquisitions, restructuring charges and currency impacts

2013 Enterprise-wide Restructuring

– Estimated $300 million in savings

• Increased from original estimate of $200

million

• Realized $223 million project-to-date

• Estimating $135 to $150 million in FY 14

• Ongoing savings fully realized in FY 15

– Estimated $350 million in costs

Targeted 400 basis point reduction = $200 million

in savings versus FY 11 baseline by 2014

Achieved 750 basis point reduction thru 6/30/14

Total cash flow generated exceeds $300 million

Working Capital as a % of Sales (average trailing four quarters)

15.4%

18.1%

21.4%

22.9%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0%

LTM 6/30/14

2013

2012

2011

Assumes:

Organic Sales expected to decline low- to mid-single digits:

- EPC – low-single digit decline

- EHP – mid- to high-single digit decline

Adjusted EPS accretion of $0.35 to $0.40 from the acquisition of

Carefree, Stayfree and o.b.

A&P as a % of sales in the range of 10.5% to 11.0%, versus 9.8% in prior

year

$45 to $50 million unfavorable currency impact

$135 to $150 million incremental gross savings from 2013 Restructuring

Project

Tax Rate – 29% to 30%

Financial Outlook of $7.00 to $7.25 Adjusted Earnings

per Diluted Share (GAAP EPS Outlook of $5.40 to $5.80)

Household Products Personal Care

Large, installed base of devices in consumer

households

Important category for retailers

Premium brands have over 70%* of total U.S.

market

Opportunity for growth in developing markets

Innovation across full portfolio

Source: U.S. Nielsen 52 week ending 8/16/14

Source: 2013 TNS US Device Study

*2Battery Consumption represents Total # Batteries Required per device divided by Total # Batteries Required by all devices

Base: All household battery-powered devices

Top 5 Devices (% of battery consumption)

Remote Controls 7.3%

Game Controllers 5.1%

Digital Cameras 4.1%

Flashlights 3.9%

Wireless Mouse 2.9%

Source: Nielsen xAOC Strategic Planner 52 weeks ending 8/2/14.

$2.5B

$2.6B

$2.7B

$2.8B

ToothCleaners

DishwashingDetergent

Deodorant

Batteries

US Sales Dollars 52 weeks

High Household

Penetration Basket Builder

Profitable Large Scale

Deodorant Dishwashing

Detergent

Tooth Cleaners Batteries

Food/Drug &

Mass

X X X X

Club X X X X

Dollar X X X X

Home Center X X

Convenience

Stores

X X X X

Office X

Sporting Goods X

Hobby/Craft X

Online X X X X

Source: US Nielsen HOUSEHOLD BATTERIES 52 week ending 8-16-14

Premium Brands = Energizer and Duracell

71%

29%

0%

20%

40%

60%

80%

2009 2010 2011 2012 2013 2014

U.S. Household Battery Segment Share Trends - Dollars

Premium Brands Price Brands

Energizer 29%

Eveready 15%

Duracell 26%

Rayovac/Varta

Private Label

Gold Peak

Panasonic

All Other

Global Battery Value Share Developing Markets

$790 Million

$5.1 Billion

Developing Markets Developed Markets

Global Battery Value

Source: Nielsen Global Track 52 weeks ending June 2014

Leading the category

in the hands free

segment

Unique Eveready

single package for

traditional trade

Last 9X longer than

Energizer Max in

digital cameras

NEW! Energizer

Max with

PowerSeal Plus

Protects devices

from leakage &

holds power for

10 years

Energizer Light Fusion

Technology

Vibrant, uniform area

light for a variety of

tasks

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

Latest 4 wks Latest 13 wks Latest 52 wks

US $ Share Change (less exclusive retailers*)

Energizer Eveready

Source: US Nielsen *exclusive retailers include Sams, BJs, Safeway, CVS, Rite-Aid and Family Dollar

52 weeks ending 6-28-14

Large category that continues to show growth

– Our top seven (developed) markets* have shown a category

compounded annual growth rate of 1.7% over the past five years

– U.S. category declines are starting to abate

SWS has competed well

– Organic net sales compounded annual global growth rate of 3.5%

since 2008; including acquisitions, 9.3%

– LTM share of 14.3% (top 7 markets); up 1.3 pts since 2008

*Source: Euromonitor – Total Market Value Data 2013. Top seven markets: United States, France, Great Britain, Germany, Japan, Australia and Canada

SWS Organic Net Sales from 2008-2013. Excludes Edge, Skintimate, Private Brands and F/X

U.S. Category Men’s Systems

52 week -3.3% -7.6%

13 week -2.2% -5.0%

4 week -1.6% -1.7%

Hydro leads our success. The total franchise has grown to more than

$250MM annual sales

– We have achieved record high shares on our Hydro Men’s System in

each of our seven top markets*

– Hydro Silk has continued to grow, achieving its highest share of 6.9%**

– Hydro Disposable extended the franchise into the premium disposable

segment

*Source: ACNielsen. Top 7 markets: US, Canada, France, Great Britain, Germany, Japan, Australia. Data through May 2014

** Source: AC Nielsen Global Track, MAT ending June 2014 for U.S., Canada, ,Belgium, Netherlands, France, Great Britain, Australia, Japan, Korea, and New Zealand.

Large category that continues to show growth

– Global category size* - $10.3B

– Five year Global CAGR +5.9%

EPC five year organic net sales in focus markets** CAGR

+3.6%

– Driven by international +14.5%

– EPC share gains throughout US, Europe and portions of

LatAm driven by new products and strong promotional

activities

** Focus markets: U.S., Canada, UK, France, Italy, Spain, Brazil, Mexico, Chile, Australia; 2008 to 2013

*Source: Euromonitor – Total Market Value Data 2013.

SunCare Worldwide Net Sales

220 205 214 233 228 216 221

61 69 88

100 109 118 118

0

50

100

150

200

250

300

350

400

FY08 FY09 FY10 FY11 FY12 FY13 FY14 QF3

$MM

ROW

US

281 274

302

333 337 334 339

International sales have almost doubled since 2008 – now one-third of total net sales

Strongest growth in Asia and Europe

EPC share gains throughout US, Europe and portions of LatAm driven by

new products and strong promotional activities

Value Sales

(US$ mm)

% Chg

Total Suncare:

Brand Share:

USA CAN UK FR IT SP

NORTH AMERICA EUROPE

EPC

Share pt. chg

25.3 16.0

5.2 2.3 6.0 4.5

$1,182 $137 $366 $173 $119 $153

+1 0 +13 +11 -8 -3

+0.2 -0.7 +0.2 +0.4 +1.9 +1.1

US Nielsen 52 wk. ending Aug 9 2014

Canada 52 wk. ending July 2014

UK/FR Nielsen 52 wk ending June 2014

I/S Nielsen 52 wk ending July 2014

We had 2 of the top five new products in the US

In

Top 5

In

Top 5

Source: TABS CYTD through 6/26/14.

North America strategic business established with

acquisition

– Full product range

– Integration successfully completed in 9 months

– Accretion above expectation

Opportunities

– Continue growth of Playtex Sport, 11.5% share in Q3, up

50 basis points

– Leverage full line in customer discussions & consumer

communications

– Increase investment in innovation & brand equity

– Consolidate production from two facilities to one

Establish two thriving companies with clear investment

thesis and visibility to attract long-term investor base suited

to each business

Intensify focus on distinct commercial priorities of

Household Products and Personal Care to maximize

strategic flexibility and value to shareholders

Allow each business to pursue distinct capital structures

and capital allocation strategies

Strategic Rationale

Enter Day 1 with customer-focused, business-specific go-

to-market strategies, geared to build market share and

accelerate growth

Optimize organization, capabilities and cost structure to

support the strategy, generating free cash flow for

investments and increased shareholder returns

Maintain continuity though transition service agreements on

Day 1 but minimize the number, intricacy and duration of

TSAs

Objectives

Strategic Priorities:

• Build market share through investment in distribution and

effective category fundamentals

• Drive consumer-led innovation

• Optimize global cost structure

• Continue to generate free cash flow

Strategic Priorities:

• Accelerate growth in three strategic categories

• Execute focused global market strategies

• Generate substantial free cash flow to enable

investments and capital return

• Continue disciplined approach to personal care

acquisitions

Revenue: $1.8B Revenue: $2.6B

Household Products Company – Spin Co Personal Care Company – Remain Co

North America

Latin America

Commercial Legal / Reg.

Legal / Reg.

Affiliate/GTM

Strategy

Infrastructure

Procurement

Real Estate

IT

TSA

People

Op. Model /

Org. Design

Communications /

Change

Management

Finance

Spin Execution

Transaction

Chairman, EHI CEO, EHI CFO General Counsel HR VP

Supply Chain

SEC Reporting

Capital Structure

Tax Structure

Investor Relations /

Roadshow

Benefits

Rewards

HR

EMEA

Asia

CEO, Personal

Care CEO, Household

Executive Steering Committee

Workstreams

Financial

Planning &

Analysis

Controllership

Internal Audit

Investor Relations

Tax

Treasury

Enhance Business Model for Successor Companies

Ensure Flawless Day 1

B) Examine international

go-to-market strategy and

how key markets can be

best served

A) Develop new operating

models and the right cost

structure

D) Plan and execute an

issue-free transaction

C) Establish separate

organizations supported

by the right infrastructure

and capabilities

Finalize operating model, organization and governance for both

businesses

Implement new organizational changes across all geographies and

functional areas

Fill numerous leadership positions

Align over 12,000 colleagues in 50+ affiliates

Coordinate IT separation projects

Adjust warehouses to new global product flow while maintaining service

Review, amend and execute procurement and real estate contracts

Establish financial reporting and controllership capabilities

Organization

Infrastructure

Established governance model, program structure,

and separation guiding principles

Defined Personal Care and Household Products

business models and Day 1 vision

Kicked-off focused separation and business continuity

planning for key shared services functions

Announced Personal Care and Household Products

Management Teams and began organization design

for the two companies

Targeted July 1, 2015 separation date

Initial filing of Form 10

Strategies for each business

Pro-forma financials, including Day 1 run-rate

cost structures

Review separation progress, including

updated timeline and key milestones

Update on organization design, including

selection of key roles

Reiterated earnings guidance for Fiscal 2014

Cost savings and working capital initiatives

are tracking above original plan

Successful integration of Feminine Care

acquisition

Separation process on schedule for

completion no later than July 1

For the Nine Months Ended

June 30,

Diluted EPS

2014

Diluted EPS - GAAP $4.33

Restructuring 0.89

Other realignment and spin-off costs .08

Acquisition costs and inventory valuation 0.15

Diluted Net Earnings/EPS - adjusted (Non-GAAP) $5.45

While the Company reports financial results in accordance with accounting principles generally accepted in the U.S.

(“GAAP”), this presentation includes non-GAAP measures. These non-GAAP measures are not in accordance with, nor are

they a substitute for, GAAP measures. The Company believes these non-GAAP measures provide a more meaningful

comparison to the corresponding reported period and assist investors in performing analysis consistent with financial models

developed by research analysts. Investors should consider non-GAAP measures in addition to, not as a substitute for, or

superior to, the comparable GAAP measures