Corporate overview 010918

1. Corporate
Overview
January 2018

2. 2
FORWARD-LOOKING STATEMENTS
Historical financial and operating data in this presentation reflect the consolidated results of WD-40 Company, its subsidiaries and its legal
entities. WD-40 Company markets maintenance products (“MP”) under the WD-40®, 3-IN-ONE® and GT85® brand names. Currently
included in the WD-40 brand are the WD-40 Multi-Use Product and the WD-40 Specialist® and WD-40 BIKETM product lines. WD-40
Company markets the following homecare and cleaning (”HCCP”) brands: X-14® mildew stain remover and automatic toilet bowl cleaners,
2000 Flushes® automatic toilet bowl cleaners, Carpet Fresh® and no vac® rug and room deodorizers, Spot Shot® aerosol and liquid carpet
stain removers, 1001® household cleaners and rug and room deodorizers and Lava® and Solvol® heavy-duty hand cleaners.
Except for the historical information contained herein, this presentation contains “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements reflect the Company’s current expectations with respect to currently available
operating, financial and economic information. These forward-looking statements are subject to certain risks, uncertainties and assumptions
that could cause actual results to differ materially from those anticipated in or implied by the forward-looking statements.
Our forward-looking statements include, but are not limited to, discussions about future financial and operating results, including: growth
expectations for maintenance products; expected levels of promotional and advertising spending; plans for and success of product innovation,
the impact of new product introductions on the growth of sales; anticipated results from product line extension sales; the impacts of the “Tax
Cuts and Jobs Act;” and forecasted foreign currency exchange rates and commodity prices. Our forward-looking statements are generally
identified with words such as “believe,” “expect,” “intend,” “plan,” “could,” “may,” “aim,” “anticipate,” “estimate” and similar expressions.
The Company's expectations, beliefs and forecasts 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 forecasts will be achieved or accomplished.
Actual events or results may differ materially from those projected in forward-looking statements due to various factors, including, but not
limited to, those identified in Part I―Item 1A, “Risk Factors,” in the Company’s Annual Report on Form 10-K for the fiscal year ended August
31, 2017 which the Company filed with the SEC on October 23, 2017.
All forward-looking statements included in this presentation should be considered in the context of these risks. All forward-looking statements
speak only as of January 9, 2018 and we undertake no obligation to update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. Investors and prospective investors are cautioned not to place undue reliance on our forward-
looking statements.

3. WHO WE ARE

4. 4
WHAT DOES A GOOD BUSINESS LOOK LIKE?
• Simple and easy to understand business model
• Dominant in its industry
• Superior returns on capital
• Sustainable competitive advantage
• Significant cash flow generation
• Strong balance sheet
• Growth opportunities
• Proven management team

5. 5
WD-40 COMPANY’S ORIGINS
In the 1950’s a chemist in San Diego set out to
create a compound that would prevent rust and
corrosion. It took him 40 attempts to get the water
displacing formula right, but the end result became
the original secret formula for WD-40 Multi-Use
Product.
1958
WD-40 MUP
makes its first
appearance on
store shelves in
San Diego
1953
Rocket Chemical
Company
Incorporated
1970
The name
WD-40
Company
was
adopted
1973
WD-40 Company
goes public on
the NASDAQ;
stock increases
61% on first
trading day
1993
MUP sales
reach $100
million in
annual
sales
1995 - 2004
Acquired 3-in-ONE,
Lava, Solvol, 2000
Flushes, X-14,
Carpet Fresh, and
Spot Shot
2008
For the first time
over 50% of net
sales generated
outside of the
United States
In 2017…
Over 64 years of growth,
flagship WD-40 brand is more
popular than ever, achieved
$381 million in net sales and
products are available in over
176 countries and territories
worldwide
2011
Introduced WD-
40 Specialist
product line
1953 - 1958
WD-40 MUP is used by
aerospace industry and
on the SM-65 Atlas
missile
1997
Garry
Ridge
named
president
and CEO

6. 6
OUR BRANDS
MAINTENANCE PRODUCTS
• Currently make up 90% of net sales
• Core strategic focus and primary growth engine
HOMECARE AND CLEANING PRODUCTS
• Available in niche segments and geographies
• Generate positive cash flows but are not core
strategic focus

7. 7

8. 8

9. 9

10. CIRCLE OF
COMPETENCE

11. 11

12. 12
BRAND EQUITY: THE POWER OF THE SHIELD
The “shield” carries with it positive brand equity - the brand is memorable,
easily recognizable, and known for its superiority in quality and reliability.
Similar to Coca-Cola, Kentucky Fried Chicken and Google, the formula for
WD-40 Multi-Use Product is a trade secret so protected that there was never
a patent filed for it.

13. 13
CULTURE: 2016 TRIBE MEMBER ENGAGEMENT SURVEY
Question Result
Average of all questions 92.8
I feel my opinions and values are a good fit with the WD-40 Company culture. 99.1
I love to tell people that I work for WD-40 Company. 98.4
I am clear on the company’s goals. 98.4
I understand how my job contributes to achieving WD-40 Company’s goals. 97.9
I know what results are expected of me. 97.9
I respect my coach. 95.8
I am excited about WD-40 Company’s future direction. 94.2
My coach encourages me to find innovative solutions and opportunities for new and better ways 93.7
My coach encourages employees to continually improve in their job 93.6
“WD-40 Company is full of people who inspire me and get me excited to go to
work each morning. The sense of purpose we share, and pride for what we do,
is unique and makes you feel that you’re a part of something special.”
- Nick Giordano, SEC Reporting Manager

14. 14
GLOBAL: INFRASTRUCTURE
Our products are currently available in 176 countries and territories worldwide
and in over 62 unique trade channels
The Company’s unique infrastructure enables it to take its products to more places,
with more people, who have more uses, more frequently.
• Aircraft Supplies
• Appliance Repair
• Automotive
• Bicycle
• Big Box
• Body Shop
• Building Supplies
• Chemicals
• Drug Store
• E-Commerce
• Electrical Equipment
• Farming Equipment
• Grocery
• Hardware
• HVAC
• Industrial Supplies
• Janitorial
• Lawn and Garden
• Locksmith
• Marine
• Motorcycle
• Office Supplies
• Plumbing
• Refrigeration
• Sporting Goods
• Welding Equipment

15. 15
DISTRIBUTION: UNIQUE APPROACH

16. 16
END USERS: FOCUSED AND DELIBERATE
• 8 out of 10 U.S. households have at least
one can of WD-40 Multi-Use Product in their
home
• The majority of sales of maintenance
products come from end-users in workshops
and factories
Annual usage amounts vary dramatically among our end users
$70.00 per year $0.40 per year
MAINTENANCE,
repair & Overhaul
Construction &
skilled trades
Passionate
hobbyist
At home non-
enthusiast

17. STRATEGIC
INITIATIVES

18. 18

19. 1. Grow WD-40 Multi-Use Product
Maximize the product line through geographic expansion, increased
market penetration and development of new and unique deliver
systems. More places, more people, more uses, more frequently.
Grow WD-40 Multi-Use Product to $530
million in net sales by the end of 2025
2. Grow the WD-40 Specialist Product Line
Leverage the WD-40 Specialist line to create growth through
continued geographic expansion as well as by developing new
products and product categories within identified platforms.
Grow WD-40 Specialist to $100 million in net
sales by the end of 2025
3. Broaden Product and Revenue Base
Leverage the recognized strengths of WD-40 Company to derive
revenue from existing brands as well as from new sources and
products.
Continue to nurture, develop or acquire
products that fit well with our unique multi-
channel distribution network and grow to $70
million in net sales by the end of 2025
4. Attract, Develop and Retain Outstanding Tribe Members
Succeed as a tribe while excelling as individuals.
Grow employee engagement to greater than
95 percent
5. Operational Excellence
Continuous improvement by optimizing resources,
systems and processes as well as applying rigorous commitment to
quality assurance, regulatory compliance, and intellectual property
protection.
Execute the 55/30/25 business model while
safeguarding the “Power of the Shield”
19
STRATEGIC INITIATIVES
Anticipated Target

20. $100
China
India
Brazil
Russia
Germany
Mexico
Saudi
Arabia
Indonesia
Iran
Emerging developing developed
South
Korea
Italy
Venezuela Eqypt
Algeria
Columbia
Nigeria
Thailand
Turkey
Spain Canada
$0
1) Based on Industrial Value Added (IVA) / Purchase Price Parity (PPP) third-party benchmarking. WD-40 Company’s estimated IVA/PPP figure is calculated using country GDP
(PPP) data, which is a country's GDP converted into ‘international dollars’ using the PPP index, then multiplied by the country's IVA (% GDP) figure.
Opportunity(inmillions)
We estimate the potential global market opportunity for WD-40 Multi-Use Product to be ~$1.0B (1)
STRATEGIC INITIATIVE # 1 – GEOGRAPHIC EXPANSION
20

21. 21
STRATEGIC INITIATIVE # 1 – INNOVATION
‘Premiumization’ of the blue and yellow can with the little red top creates
opportunities for revenue growth and gross margin expansion
Classic Can WD-40 Ez- reachWD-40 Smart Straw

22. 22
STRATEGIC INITIATIVE #2 – NEW PRODUCT CATEGORIES

23. 23
STRATEGIC INITIATIVE #2 –SPECIALIST LINE BUNDLES
General
Maintenance
Lawn and Garden
General Maintenance
Lawn and Garden
Motorbike and Motorcycle
Grease
Degreasers

24. Make it EASY TO BUY by maximizing store placement and shelf space
24
SUPPORTING STRATEGIC INITIATIVE #1 AND #2
CATEGORY MANAGEMENT

25. Continue to derive revenue from existing brands as well as from new sources and products
25
STRATEGIC INITIATIVE #3 – NURTURE AND DEVELOP
3-IN-ONe WD-40 Bike GT85
Spot Shot / Lava 1001 Novac / solvol

26. $106M
$202M
26
LONG-TERM REVENUE GROWTH TARGETS
FY 2007
Reported Revenue
$308M
Revenue Generated by Strategic Initiative #1
1) Anticipated targets for revenue are projected by the end of FY2025 and are based on the Company's expectations, beliefs and forecasts. They are expressed in good faith and
are believed by the Company to have a reasonable basis, but there can be no assurance that they will be achieved or accomplished.
Note: Historical revenue numbers reflect net sales as reported and have not been adjusted for changes in foreign currency exchange rates.
FY 2017
Reported Revenue
$381M
FY 2025
Anticipated Revenue Target
~$700M (1)
$292M
$63M
$26M
~$530M
~$100M
~$70M
Revenue Generated by Strategic Initiative #2 Revenue Generated by Strategic Initiative #3

27. INVESTMENT
PERFORMANCE

28. 5-YEAR COMPARISON OF TOTAL STOCKHOLDER RETURN
28
$80
$100
$120
$140
$160
$180
$200
$220
$240
$260
$280
$300
$320
$340
FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017
WD-40 Company S&P 500 Russell 2000
*$100 invested on 8/31/12 in stock or index, including reinvestment of dividends.
Fiscal year ending August 31.
Copyright© 2017 S&P, a division of McGraw Hill Financial. All rights reserved.
Copyright© 2017 Russell Investment Group. All rights reserved.
Value of $100 Invested on August 31, 2012

29. 29
WHAT DROVE THE PERFORMANCE?
EFFICIENT BUSINESS MODEL WITH
ASSET-LIGHT STRATEGY
• Average annual CAPEX needs of ~1% to 2%
of net sales
• Outsourced manufacturing and distribution
• Sales per employee of $0.85M in FY17
FOCUSED ON CREATING VALUE
• High Returns on Invested Capital
• ROIC was 28.2% in FY14, 27.2% in
FY15, 32.6% in FY16 and 32.4% in
FY17
• Employee earned incentives tied to EBITDA
growth
SOLID FINANCIAL FOUNDATION
• Strong balance sheet
• Predictable free cash flow
• Strong liquidity & access to capital
We invest in brands and people, not factories and warehouses
GROWTH PLATFORM SUPPORTED BY
STRONG BRANDS
• Brand portfolio includes many well-known
brands and products
• Global diversification reduces risk
• Long runway of growth ahead

30. $194
$205
$235
$247
$258
$290 $300 $306
$324
$342
$
$50
$100
$150
$200
$250
$300
$350
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17
30
Strong Brands with a Global Reach
1) FY17 presented as reported, all prior years presented on a constant currency basis using FY17 foreign currency exchange rates.
Maintenance product sales continue to increase despite
global macroeconomic challenges
Global
financial
crisis begins
Subprime
mortgage
crisis
Eurozone
debt crisis
begins
Maintenance Product Sales
(In millions)
Continued economic
instability in Eurozone

31. 31
GLOBAL MAINTENANCE PRODUCT SALES
MP Sales by Segment
1) FY17 presented as reported, all prior years presented on a constant currency basis using FY17 foreign currency exchange rates.
(In millions)
$
$20
$40
$60
$80
$100
$120
$140
$160
$180
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17
Americas EMEA Asia Pac

32. 55/30/25
BUSINESS MODEL

33. 33
THE 55/30/25 BUSINESS MODEL
Gross Margin
55% of net sales55
Cost of Doing Business(1)
30% of net sales30
Maintenance CAPES & Regular Dividends
Maintenance CAPEX of between $2M to $4M per fiscal year
Annual dividends targeted at ~50% of earnings or ~$20M25 EBITDA(1)
25% of net sales
1) See appendix for descriptions and reconciliations of these non-GAAP measures.
WD-40 Company’s business is guided by the 55/30/25 business model
We target gross margin of 55%, cost of doing business of 30%, and an EBITDA of 25%

34. 34
THE “55” - GROSS MARGIN
• In FY 2017 the Company achieved gross
margin of 56% flat compared to FY 2016
• Continued focus on driving gross margin
improvement
• New product development, innovations
and reformulations
• Operational efficiencies
• Product mix and market mix
• Pricing adjustments, as needed, to offset
input cost increases
Gross margin can be impacted positively and negatively by things not under the Company’s
control like changes in foreign currency exchange rates and changes in input costs
55% Gross Margin Target
51%
52%
53%
56% 56%
FY13 FY14 FY15 FY16 FY17
5-Year Gross Margin Trend

35. 35
WHAT MAKES UP THE COST OF A CAN?
Approximate Cost Breakdown of a Typical Can of
WD-40 MUP Manufactured in the United States
Data as of September 2017. Represents average input costs over 6-month period of a typical 12 ounce can of WD-40 Multi-Use Product manufactured in the United States.
Current manufacturing and input costs typically take approximately 90-120 days to be reflected in the Company’s consolidated statement of operations due to production and
inventory life cycles.
We estimate only
a small portion of
the input costs
associated with
petroleum-
based specialty
chemicals
directly correlate
to the price of a
barrel of crude oil
Petroleum-Based
Specialty Chemicals
Manufacturing Fees
Can
Plastic
Corrugate
3%
33%
20%
30%
14%

36. 36
THE “30” – COST OF DOING BUSINESS
• FY 2017 cost of doing business was at 35% of
net sales down from 36% compared to FY 2016
• In FY 2017 cost of doing business came from
three primary areas:
• People costs, including earned incentive accruals
• Marketing, advertising and promotion
• Freight costs to get products to customers
• Additional investments in research and
development, brand protection, and regulatory
and quality assurance remain a high priority
Revenue growth is the most important factor in achieving the “30” target
Cost of Doing Business
People A&P Investment Freight Other

37. 37
FY17 55/30/25 RESULTS
* See appendix for descriptions and reconciliations of these non-GAAP measures.
Note: Percentages may not aggregate to EBITDA percentage due to rounding and because amounts recorded in other income (expense), net on the Company’s
consolidated statement of operations are not included as an adjustment to earnings in the Company’s EBITDA calculation.
55/30/25 Business Model
Target FY17
Actuals
FY16
Actuals
FY15
Actuals
Gross Margin 55% 56% 56% 53%
Cost of Doing Business 30% 35% 36% 34%
EBITDA 25% 22% 21% 19%

38. CAPITAL ALLOCATION

39. 39
CAPITAL ALLOCATION STRATEGY

40. 40
CASH RETURNS TO STOCKHOLDERS
• Paid dividends without interruption
for over 40 years
• Dividend increased consistently over
past seven years
• Future increases expected to grow
in-line with earnings over time
• Current share repurchase plan
provides authorization to acquire up
to $75 million in shares through
August 2018
• Company repurchased ~291
thousand shares at a total cost of
$31.1 million during FY17
• Over the last five years Company
has repurchased over $168 million
in WDFC stock
Share Repurchases
Dividends
(in millions)
$31.4
$42.8
$30.3 $32.1 $31.1
FY13 FY14 FY15 FY16 FY17
Share Repurchases
$1.22
$1.33
$1.48
$1.64
$1.89
48% 46% 49%
45%
51%
FY13 FY14 FY15 FY16 FY17
FY Dividend per Share Dividend Payout Ratio

41. FINANCIAL RESULTS

42. FY17 FY16 % Change
Net Sales $380.5 $380.7 0%
Gross Profit (%) 56.2% 56.3% -10 bps
Operating Income $75.9 $71.3 6%
Net Income $52.9 $52.6 1%
EPS (Diluted) $3.72 $3.64 2%
42
FY17 RESULTS
• Top-line sales growth was slightly impacted by foreign currency exchange rates in FY17
• When you take both translation (or “constant currency”) and transaction exposure into
consideration, the impacts of foreign currency exchange rates reduced our total net sales
by approximately $5.8 million
($ in millions; except EPS, gross profit and % change)

43. FINAL THOUGHTS

44. 44
WHERE DOES OUR FOCUS NEED TO BE?
• High levels of employee engagement
• Steady growth of WD-40 Multi-Use Product across all markets
• Growth of WD-40 Specialist product line
• Innovation and development to support growth
• Maintain gross margin of 55% or greater
• Manage cost of doing business as a % of revenue towards 30%
• Protect “the power of the shield” and mitigate regulatory impact

45. 45
WHAT ARE OUR BIGGEST RISKS?
• Not living our values or maintaining and enriching our tribal culture
• Loss of focus – not executing against our strategic drivers
• Overwhelming complexity of operating a business that operates in 176
countries and 62 trade channels
• Misaligned compensation – moving away from ‘pay for performance’
• Not being deliberate and focused – deviating away from best-in-class
products that generate positive lasting memories for our end-users
• Temptation to ‘di-worsify’ – bad capital allocation
• Developing products that need more support than our business model allows
• Targeting end-users that don’t fit our existing distribution model
• Global volatility, uncertainty, complexity, ambiguity

46. APPENDIX

47. FY17 FY16 % Change
Net Sales $380.5 $380.7 0%
Gross Profit (%) 56.2% 56.3% -10 bps
Operating Income $75.9 $71.3 6%
Net Income $52.9 $52.6 1%
EPS (Diluted) $3.72 $3.64 2%
FY17 CC* FY16 % Change
Net Sales $399.6 $380.7 5%
Operating Income $80.7 $71.3 13%
Net Income $56.4 $52.6 24%
EPS (Diluted) $3.97 $3.64 9%
FOREIGN CURRENCY TRANSLATION IMPACT OR
“CONSTANT CURRENCY” – FY17
Financial Results
As reported
Financial Results
Constant currency basis
*FY17 results translated at FY16 foreign currency exchange rates
($ in millions; except EPS, gross profit and % change)
47

48. (1) This presentation contains certain non-GAAP (accounting principles generally accepted in the United States of America) measures, that our
management believes provide our stockholders 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 the WD-40 Company financials as
prepared under GAAP are as follows:
NON-GAAP RECONCILIATION – FY17
Note: Percentages may not aggregate to EBITDA percentage due to rounding and because amounts recorded in other income (expense), net on the Company’s
consolidated statement of operations are not included as an adjustment to earnings in the Company’s EBITDA calculation.
48
Total operating expenses - GAAP $ 137,976 $ 143,021 $ 134,788
Amortization of definite-lived intangible assets (2,879) (2,976) (3,039)
Depreciation (in operating departments) (2,789) (2,744) (2,664)
Cost of doing business $ 132,308 $ 137,301 $ 129,085
Net sales $ 380,506 $ 380,670 $ 378,150
Cost of doing business as a percentage of net sales - non-GAAP 35% 36% 34%
EBITDA:
Net income - GAAP $ 52,930 $ 52,628 $ 44,807
Provision for income taxes 21,692 20,161 18,303
Interest income (508) (683) (584)
Interest expense 2,582 1,703 1,205
Amortization of definite-lived
intangible assets 2,879 2,976 3,039
Depreciation 3,890 3,489 3,425
EBITDA $ 83,465 $ 80,274 $ 70,195
Net sales $ 380,506 $ 380,670 $ 378,150
EBITDA as a percentage of net sales - non-GAAP 22% 21% 19%
Fiscal Year Ended August 31,
2017
2016 20152017
Fiscal Year Ended August 31,
2016 2015