Investor Presentation

Miami
February 25, 2015

Cautionary Statement
Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of the Company. Such
discussion and statements will often contain words as expect, anticipate, believe, intend, plan and estimate. Such forward-looking statements include statements
regarding the Companys adjusted basic and diluted earnings per share, expected or estimated revenue, the outlook for the Companys markets and the demand for
its products, estimated sales, meeting financial goals, segment earnings, net interest expense, income tax provision, earnings per share, restructuring costs and other
non-cash charges, cash flows from operations, consistent profitable growth, free cash flow, future revenues and gross operating and EBITDA margin improvement
requirement and expansion, organic net sales growth, performance trends, bank leverage ratio, the success of new product introductions, growth in costs and
expenses, the impact of commodities, currencies, and transportation costs and the Companys ability to manage its risk in these areas, repurchase of shares of
common stock from time to time under the Companys stock repurchase program, our ability to raise new debt, and the impact of acquisitions, divestitures,
restructurings and other unusual items, including the Companys ability to successfully integrate and obtain the anticipated results and synergies from its
consummated acquisitions. These projections and statements are based on management's estimates and assumptions with respect to future events and financial
performance, and are believed to be reasonable, though are inherently difficult to predict. Actual results could differ materially from those projected as a result of
certain factors. A discussion of factors that could cause results to vary is included in the Companys periodic and other reports filed with the Securities and Exchange
Commission. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
This presentation also contains non-GAAP financial measures. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of a company's
historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding
amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statements of operations, balance
sheets, or statements of cash flows of the Company; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded
from the most directly comparable measure so calculated and presented. Pursuant to the requirements of Regulation G, the Company has provided reconciliations of
the non-GAAP financial measures to the most directly comparable GAAP financial measures. These non-GAAP measures are provided because management of the
Company uses these financial measures in monitoring and evaluating the Companys ongoing financial results and trends. Management uses this non-GAAP
information as an indicator of business performance, and evaluates overall management with respect to such indicators. Additionally, the Company uses non-GAAP
financial measures because the Company's credit agreement provides for certain adjustments in calculations used for determining whether the Company is in
compliance with certain credit agreement covenants, including, but not limited to, adjustments relating to non-cash impairment charges of goodwill, intangibles
and other assets, certain restructuring costs, acquisition-related and other costs, non-cash purchase accounting adjustments, elimination of manufacturers profit in
inventory, Venezuela hyperinflationary and foreign exchange-related charges, non-cash stock-based compensation costs, gain (loss) on sale of certain assets, loss on
early extinguishment of debt, non-cash original issue discount amortization and other items, as applicable.
These non-GAAP measures should be considered in addition to, not a substitute for, measures of financial performance prepared in accordance with GAAP.

Jarden Overview and Performance

Investment Highlights
A well-diversified, global consumer products company
Over 120 powerful brands that consumers trust

The brands of everyday life TM

Defined by Jardens DNA as our foundation

Proven track record of strong financial performance over 13+ years

Defined and measurable long-term financial goals

Designed to deliver diluted adjusted EPS of $4.00 by YE 2018

Strong balance sheet and cash flow generation capabilities

Strategic deployment of capital

$150 Million

Our Largest Brands

Sales

$800+ Million
4

Growth Strategy
BUILD: Organic Growth

EXPAND

INNOVATE

LEVERAGE

ACQUIRE

Geographic
expansion
+
Brand
expansion
to adjacent
categories

Brand equity
investment;
provide value
through leading
brands that
consumers desire
and trust

Cross business
unit and
segment
leverage in
selling and
infrastructure

Remain
disciplined and
opportunistic
acquirers

Increase market
share & increase
margins

Jarden sister
company
product,
geographic and
channel
support +
expertise

Consistent with
Jardens
acquisition
criteria

Branded Consumables

Market Position in Core Categories

Baby Care*
2014 Net Sales of $3.0 billion

Boxed Plastic Cutlery

2014 Segment Earnings Margin of 17.4%

Firelogs

Brands which are synonymous with their categories

Fresh Preserving

Strong, stable cash flow generation

Diversified product mix with leadership positions
in most categories

Gloves & Sponges **

Matches & Toothpicks
Playing Cards
Premium Scented Candles
Smoke & CO Alarms

BRANDED CONSUMABLES

OUTDOOR SOLUTIONS

CONSUMER SOLUTIONS

Leading provider of primarily niche, affordable,

consumable household staples used in and
around the home
Note: Positions noted above refer to the U.S. market unless indicated otherwise.
* Category includes aggregate sales of pacifiers, sippy cups, bottles, and other oral development and feeding products.
** Home-use gloves and sponges in EU G5 market.

Outdoor Solutions

Market Position in Core Categories

Baseball Gloves & Balls

2014 Net Sales of $2.7 billion

Camp Stoves
2014 Segment Earnings Margin of 11.0%
Worlds largest sports equipment company

Fishing

Leadership positions in US, Europe and Japan

Extensive distribution network spanning mass,
sporting goods, specialty, internet and team channels

Lanterns

Skis & Bindings

Sleeping Bags

Tents

BRANDED CONSUMABLES

OUTDOOR SOLUTIONS

CONSUMER SOLUTIONS

Global provider of innovative, recreational and

high-performance products designed to maximize consumers
enjoyment of the outdoors
Note: Positions noted above refer to the U.S. market unless indicated otherwise.

Consumer Solutions

Market Position in Core Categories

Blenders

2014 Net Sales of $2.2 billion

2014 Segment Earnings Margin of 16.2%

Coffee Makers

Strong portfolio of brands with leading positions across

core categories

Slow Cookers

Most broadly distributed brand portfolio in core categories

throughout the Americas

Vacuum Packaging

Distribution channels include mass merchants, warehouse

clubs, specialty retailers, direct-to-consumer and international
Air Purifiers/Humidifiers

Warming Blankets

BRANDED CONSUMABLES

OUTDOOR SOLUTIONS

CONSUMER SOLUTIONS

Global provider of products designed to simplify the daily lives of

consumers in and around the home; making everyday experiences,
more satisfying
Note: Positions noted above refer to the U.S. market unless indicated otherwise.

Operating Segments
Segment Breakdown
2014 Net Sales: $8.3 billion

Jarden is well diversified across

operational segments and
customers

Outdoor
Solutions
33%

Branded
Consumables
36%

Manufacturing in 70 plants
across 16 countries

Consumer
Solutions
26%

Process
Solutions
5%

Business operations in 40
countries

Net Sales by Customer

Other
64%

Over 30,000 employees

Focus on operational
excellence

Sporting Goods
3%

Mass A
13%

Specialty A
1%
Int'l Mass C
1%
Int'l Mass B
1%
Int'l Mass A
1%
Dot Com
Mass E
4%
1%

Mass D
1%

Mass B
4%
Club A
3%
Club B
1%
Mass C
2%

Geographic Revenue Mix

2014 US/International Mix of 61% / 39%

Gradually shift from US /

International mix of 61%/39%
to 50%/50%

Cross-channel opportunities

Use each business

geographic strength to
support expansion of
sister Jarden businesses
Specific targeted growth
initiatives with incremental
resources focused on Asia,
Latam, and EMEA

Existing markets > 1.0% of 2014 Net Sales

Existing markets < 1.0% of 2014 Net Sales

10

Jardens DNA
Strive to be better

Support the individual,

but encourage teamwork

Retain and develop the

best talent

Think lean; act large

Listen, learn, innovate

Have fun, work hard, execute

Deliver exceptional
financial results

Enhance the communities

in which we operate

Jardens DNA is the foundation for strategic,

operational and financial initiatives and
ultimately it is the key to our success

11

Our Evolution Into A Leading Global

Consumer Products Company

20052007:
Strengthening &
Investing in the
Platform
20012005:
Setting the
Foundation

Established a
platform for
growth through a
series of
acquisitions

o
o
o
o
o

20072012: Leveraging the

Platform for Predictable &
Sustainable Growth

Brand-building approach
o Increased investment in
brand equity
o
Product innovation and
Infrastructure investments:
development focus
IT systems
o Cross-brand collaboration
Business management
o Cross-selling
processes
o Partnerships
Internal controls
o Shared technologies
Talent development
o Idea generation and
Process, planning and
knowledge exchange
forecasting

2012-2014:
Expanding Revenue,
Geographic Reach,
Margin & Cash
Generation

2014+:
Standing
Above the
Forest
o
o

o
o
o
o
o

Revenue expansion
Geographic expansion
Opportunistic
acquisition
Leverage platform for
margin expansion
Gross margin &
working capital
efficiencies
Disciplined & creative
access to capital
markets

o
o
o
o

White sheet of
paper
Talent
development
D2C expertise
Intl platform
leverage
Process redesign
New financial
goals

12

Strategic Priorities
Deliver innovative products that present great value
through leading brands that consumers desire and trust
Capitalize on our strong core to expand by category,
by channel, and by geography
Deliver earnings growth well above our rate of
sales increase
Continue to optimize our capital structure and effectively
deploy capital for the benefit of our shareholders

13

Delivering Consistent Performance

through Jardens Business System
Our business and operating system drive performance and execution consistency
FINANCIAL DISCIPLINE: Focused on delivering consistent and predictable results

OPERATING PLATFORM LEVERAGE: Unified management systems and evaluation across

diverse businesses
CONTINUOUS INNOVATION: Five-year detailed planning on products to meet changing
consumer needs and desires

UNIQUE LEADERSHIP BRANDS: Many brands synonymous with their product categories;
driving consumer POS
SYNERGIES AND SCALE: Creating market insights, revenue and margin expansion
opportunities faster and more cost effectively than as standalone businesses

Rigorous business analysis and operating systems drive effectiveness

14

Robust Strategic Planning Drives Growth

BASE
BUSINESS

TARGET
GROWTH

2014

New Distribution
Channels

Current Distribution
Channels

New
Products

Margin
Expansion

Investment
(Mktg, R&D, and CapEX)

International
Growth

Targeted
Growth Initiatives

5 year roadmap

DISCIPLINED OPERATIONAL
ANALYSIS & MANAGEMENT

Assessment and approval of

Base Business and Target
Growth initiatives drive
Jardens long term Financial
Goals

2018

15

Organic Cross Selling Opportunities Drive Value

Across the Jarden Platform
Cross-Selling
Opportunities

Adjacent selling opportunities within our

family of brands (e.g. candles with
lighters, matches and firelogs)

Customer / retail network can be grown

by leveraging Jardens relationships
across our portfolio of brands
Cross-selling opportunities, such as
technical apparel with related sports
equipment

Cross-Channel
Opportunities

Streamlining distribution costs

Expanding each business distribution

network by utilizing the platform of
the portfolio

Leveraging Jardens footprint to

facilitate each business expansion into
new markets and geographies
Many businesses with complementary
geographic strengths providing sister
help

Cross-Brand Collaboration
Opportunities

To help drive new product innovation

Using scale to achieve production

synergies

Cross-brand support and knowledge

exchange

Jardens disciplined processes and

planning to provide unique insights
and market intelligence; further
developing opportunities across the
platform

New Revenue Drivers, Enhanced Scale and Increased Portfolio Synergies

16

The Council Approach to Scale & Leveraging SG&A

Select Examples:
2005-2008

2009-2011

2012-2014

2015+

DTC Council

STRATEGY
Cultural adoption
Policies and procedures
Collaborative training
Succession planning

Procurement Policy
Governance

R & D Council
LATAM/APAC
OEM Sourcing Council

Professional Services
Global T&E Solutions

MATURITY

P&L Sensitivity
Geopolitical Risk
Quality/Warranty Council

SELF-SUFFICIENCY
Standard practices
Benchmarking
Corrective action plans
Cross-BU solution design

Manufacturing
Council

Budget Collaboration
Customs and Trade Council

Temp Labor Team

BASICS
Team creation
Supplier coordination
Knowledge sharing
Data collection

Commodities
Hedging
Acquisition
Integration

Marketing Council

Collaboration
Leverage

Asia Commodity Team

Europe Commodity Teams

Travel Team
Transportation
Team
N.A. Commodity
Teams

Social Compliance
Council

30+ multi-functional councils

increasing COLLABORATION and
ADVICE across Jarden businesses,
LEVERAGING Jardens growing scale

Advisory
Note: Select Councils shown on chart given 30+ active counsels.

17

Seasonal Staples Products;

4-6 Month Order Curve
2014
AUG

SEP

OCT

2015
NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

Aug to Nov

Multi-year budget
planning

Monthly budget
monitoring

Quarterly &
Mid-year budget
reforecast
Continuous
Adjustment to
Protect Pricing &
Budget

BOTTOM-UP PROCESS
Per product category
Per customer account
Per growth initiative

KEY METRICS
Sales & Profitability
Investment spending
Working capital
Inventory metrics
Warranty expenses
Operational cash flow
FX impact

HORIZON
Month
Quarter (QTD and outlook)
Annual (YTD and outlook)
BREAKDOWN
Business unit
Product category
Geography

BUSINESS UPDATE
Marketing initiatives
Competitive activity
Customers
Target growth initiatives

REVISION OF BOTTOM-UP
Per customer account
Per product line
Per growth initiative

Weekly sales flashes, coupled with eight week rolling cash forecasts,
supplemented with ongoing commodity hedging

Multiple TOUCHPOINTS building an accurate

forward-looking view of the year, allowing for
continuous ADJUSTMENT
18

Historical Performance & Visibility Curve Example

CAGR 30%
($s in millions)

Net Sales
$3,189
$368

$588

$839

2002

2003

2004

2005

$3,846

2006

$4,660

2007

$5,383

$5,153

2008

2009

$6,023

2010

$6,680

$6,696

2011

2012

$7,356

2013

$8,287

2014

CAGR 25%

Adjusted EBITDA
(Segment Earnings)(1)

$1,104

$298
$75

$87

$115

2002

2003

2004

2005

$419

2006

$502

2007

$609

$606

2008

2009

$710

2010

$791

$814

2011

2012

$936

2013

2014

CAGR 21%
Cash Flow from Operations

$641
$427

$71

$74

$70

2002

2003

2004

$241

$236

2005

2006

$305

2007

$669(2)

2013

2014

$480

$289

$250

2008

$669

2009

2010

2011

2012

Note: For a reconciliation of Non-GAAP numbers please refer to the Supplemental slides posted on Jardens website.
1. Non-GAAP excluding restructuring, non-operational and non-cash charges and credits.
2. For full year 2014, cash flow from operations was $669 million before a $42 million cash charge primarily representing the cost of interest
acceleration related to the early repayment of Jardens 2020 bonds.

19

Investment Highlights

Long-Term Financial Goals

Delivering Long-Term Average Annual Organic Sales Growth of 3% to 5%
Continuing to Leverage SG&A

Expanding Segment Earnings Margins to 15% by YE 2018

Generating Average Annual Earnings Growth of at Least 10%
Producing at Least $4.0 Bn of Cash Flow from Operations
over Five Years (2014-18)(1)
Targeting Year End Bank Leverage Ratio at or Below 3.0x

Delivering Diluted Adjusted EPS of $4.00 by YE 2018(2)

Note: (1) Cash flow from operations delivered from 2009-2013 was $2.5 Bn
(2) Diluted adjusted EPS of $4.00 reflects the November 2014, 3-for-2 share split and is unchanged and equivalent to the pre-split target value of $6.00

21

Jardens Track Record of Organic Performance

Has Been Enhanced by Disciplined Acquisitions
Indexed Share Price Performance since 2001 (1)

Prioritization

(Indexed price)

4500%

JAH:
+~4,325%(2)

4000%

Drive consistent,
profitable, organic
growth

October 2013:
$1.75bn

3500%
January 2005:
$845mm

April
2007:
$400mm

3000%
July
2005:
$625mm

June
2004:
$240mm

2500%

Opportunistic
acquisitions; always
on the radar

April 2010:
$450mm
August 2007:
$1.2bn

2000%
February 2003:
$110mm

1500%

1000%

April
2002:
$160mm

S&P MidCap 400:

~260%

September
2003: $155mm

500%

Bandwidth to take
advantage of
accretive acquisition
opportunities

S&P 500:
~115%

Jan-02

Jan-04

Jan-06

Jarden Corporation

Jan-08
S&P 500

Jan-10

Jan-12

Jan-14

S&P Mid Cap 400

Since Jardens 2001 Inception, the Stock has Delivered an Annual Compound Return of over 33%
1.
2.

Acquisitions shown reflect transactions that contributed more than 10% of revenue at the time of the acquisition.
Performance reflects total stock appreciation from Jardens inception, defined as market close 9/21/2001 as Martin E. Franklin and Ian G.H. Ashken were officially appointed as senior management on 9/24/2001, through 12/31/2014.

2222

Execution: Jarden has Delivered Uncommon Value

Across Multiple Time Periods
Setting Aspirational Targets to Drive Performance
New long-term financial goals were established for FY
14 through FY 18
Jarden achieved record 2014 performance
Today, Jardens market cap is in excess of $9Bn
In 2013, Jarden exceeded the January 2010 stretch
goal of doubling adjusted EPS within five years
The goal was achieved a year ahead of schedule
Market cap growth from 2010 to 2013 from
$2.9Bn to $8.3Bn, a ~3x increase
In January 2005, post closing the American Household
acquisition, the Board set ambitious 5 year goals for
the Company
Jardens market cap grew by over 105%
Over the same period, the S&P 500 Index
declined by 6%
.
1.
2.
3.

Uncommon Value
Jarden consistently has the highest
stock return vs. its peers in the S&P
Consumer Staples index, across
multiple time periods
Return (1)

Rank (2)

2014

+17%

#1

2013

+78%

#1

2012

+73%

#1

5-Year

+248%

#1

10-Year

+272%

#1

Since 2001
(inception) (3)

+~4,325%

#1

Performance reflects total stock appreciation over the listed periods as of 12/31/2014.
Ranking based on performance compared to the household and personal care peer group in the S&P Consumer Staples Index.
Inception point defined as market close 9/21/01 as Martin E. Franklin and Ian G.H. Ashken were officially appointed as senior management on 9/24/01.

2323

Jarden has Supported Organic Growth

through Significant Brand Equity Investment
$500

Brand Equity and Product Innovation =

Higher Prices (i.e. greater value) and Higher GM

$400

Each year ~30% of sales come from products launched

within past three years

$300

Creative Go-To-Market Initiatives

$200

Relevant consumer outreach utilizing multi-media

approach & Point of Purchase programs

($ in millions)

$100
$0

Investment Now at Appropriate Level

~6% of Net Sales
2008

2009

4.5% 4.7%

2010

2011

2012

2013

2014

4.9% 4.9%

5.7%

5.7%

5.6% % of Net Sales

Note: Excludes Yankee Candle pre 2013. Figures above include marketing and R&D expenses.

24

Jardens Acquisition Criteria

Unchanged Since Jardens 2001 Inception:

Category-leading positions in niche consumer markets with defensible

moats around the business

Recurring revenue with margin expansion opportunities

Strong cash flow characteristics

Talented Management team

Attractive transaction valuations, accretive from day one pre-synergies

25

Effective Deployment of Capital

Share
Repurchases

Jarden acquired over $200 million of

its shares in 2014

There is ~$300 million remaining

under Jardens current share
repurchase authorization

Capital Markets
Activities

Amended and extended the senior

secured credit facility from 16 to 19
in 4Q14
Issued Euro 300 million of senior
notes due 2021 in 3Q14. The notes
bear an annual interest rate
of 3%
Issued $690 million of senior
subordinated convertible notes due
2034 in 1Q14. The notes bear an
annual interest rate of 1% with
a conversion price of approximately
$49.91
Paid down ~$480 million of debt
through redemption of 7.5% USD and
Euro senior subordinated 2020 notes

Acquisitions

In Q1 2015, Jarden acquired Dalbello

and Squadra

Yankee Candle become part of

Jardens organic performance in Q4
2014

Q3 2014 acquisitions of Rexair and

Millefiori

Q2 2014 acquisition of Cadence

Balanced Approach Intended to Maximize Long-Term Shareholder Value

26

Targeted Growth Initiatives

TGIs are Multi-year Initiatives Intended to Drive Growth Above our Fleet Average

Yankee Candle development of cross-channel, cross-brand and international growth opportunities

Marmot clothing, equipment and retail stores to gain category fair share

ExOfficio clothing brand growth through comfortable performance

Rawlings brand expansion; Japan, re-establishing operations for growth in second largest baseball
market, football and basketball category authentication

Tailgating initiative to leverage multiple Jarden brands and licenses such as the NFL, NCAA, and MLB

Zoot triathlon and specialty running gear

Appliance and Safety devices as integrated smart home and security / wellness

NUK baby and juvenile products international growth and US category expansion

Ski boots and helmets, Marker broadened brand position as protective snow

Direct-to-consumer and dot com channel focus; customized and unique products

27

Project LEAN Initiative

Mission = To leverage SG&A spend by segment, business, and expense
category to drive profitability
Project LEAN will support our goal of +150 bps from the FY13 segment
earnings margin of 12.7%
Initiative is compromised of several smaller scale projects leading to margin
improvement
Brand support will not be reduced, platform efficiencies are being
targeted
Examples of current initiatives include:
Movement to shared service platforms for back office
Travel expense centralization and management
Subscription and professional dues review
Parcel post analysis; and
Review of outside service use and cost
28

Jarden Q4 and Full-Year 2014 Results

Organic Growth was Delivered Across Each Business Segment
2014 Full-Year Record Net Sales, Gross Margins, Segment Earnings, Operating Earnings, and
Adjusted Diluted Earnings per Share

($ in millions)

Twelve months ended

Three months ended

12/31/2014

12/31/2014

12/31/2013

Inc/(Dec)%

12/31/2013

Inc/(Dec)%

$2,438

$2,216

10.0%

$8,287

$7,356

12.7%

$411

$339

21.3%

$1,104

$936

17.9%

16.8%

15.3%

13.3%

12.7%

Adjusted Net Income

$220

$167

31.4%

$512

$413

23.9%

Cash Flow from Operations

$677

$606

11.7%

$669(1)

$669

0.1%

Net Sales
Adjusted EBITDA
(Segment Earnings)
% Margin

Note: For a reconciliation of Non-GAAP numbers please refer to the Supplemental slides posted on Jardens website.
(1) For full year 2014, cash flow from operations was $669 million before a $42 million cash charge primarily representing the cost of interest acceleration related to the early repayment of Jardens 2020 bonds.

29

Debt Maturity Profile (9/30/14)

$ in millions

$1,200

$800

500

111

$400
650

25
467

703

690

607

243

382

289

$0

34
2014

265

300

85
2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Non-US and Other

Securitization (1)

Term Loan A

Term Loan A-1

2017 7.5% Sr. Sub Notes

Term Loan B

Term Loan B-1

2018 Convertible Sr. Sub Notes

2019 Convertible Sr. Sub Notes

6.125% Sr. Notes

2021 Sr. Notes (3)

2034 Convertible Sr. Sub Notes (2)

Note: Term Loan A-1 maturity schedule is as follows ($ in millions): 2014 = $1, 2015 = $3, 2016 = $243. Term Loan B maturity schedule is as follows ($ in millions): 2014 = $2, 2015 2017 = $7 annually, 2018 = $607. Term Loan B-1 maturity
schedule is as follows ($ in millions): 2014 = $2, 2015 2019 = $8 annually, 2020 = $703. Full liability portion of convertible notes is shown (rather than OID accreted balance sheet amounts).
1. Management anticipates that Securitization Facility will get renewed in the normal course of business for a subsequent 3-year period.
2. Effective maturity of 2024 based on the put structure of the security. Actual security maturity is 2034.
3. 300m outstanding principal converted to USD at 1.275 (FX exchange rate at 9/30/14)

30

Pro Forma Debt Maturity Profile (9/30/14)

$ in millions

$1,200

500

$800

265
111

$400
650

703

607

690

528

467

382

$0

2014

25
33
2015

33
2016

33
2017

33
2018

2019

2020

2021

300

2022

2023

2024

Non-US and Other

Securitization (1)

Term Loan A

2017 7.5% Sr. Sub Notes

Term Loan B

Term Loan B-1

2018 Convertible Sr. Sub Notes

2019 Convertible Sr. Sub Notes

6.125% Sr. Notes

2021 Sr. Notes (3)

2034 Convertible Sr. Sub Notes (2)

Note:Term Loan B maturity schedule is as follows ($ in millions): 2014 = $2, 2015 2017 = $7 annually, 2018 = $607. Term Loan B-1 maturity schedule is as follows ($ in millions): 2014 = $2, 2015 2019 = $8 annually, 2020 = $703. Full liability
portion of convertible notes is shown (rather than OID accreted balance sheet amounts).
1. Management anticipates that Securitization Facility will get renewed in the normal course of business for a subsequent 3-year period.
2. Effective maturity of 2024 based on the put structure of the security. Actual security maturity is 2034.
3. 300m outstanding principal converted to USD at 1.275 (FX exchange rate at 9/30/14)

31

Full-Year 2015 Guidance

Organic Sales Growth 3-5%

Segment Earnings Margins of 13.5%-14.0%

Interest Expenditure $175-$185 million
Capital Expenditure of 2.5%
Cash Flow from Operations of approximately $700 million
Year End Bank Leverage Ratio at or Below 3.0x
Diluted Adjusted EPS Delivery in the Range of $2.75-$2.90

Note: (1) Assumes 192-193 million shares outstanding. Lower end of fully diluted adjusted EPS range reflects FX rates as of Jardens 4Q
earnings call 2/12/15

32

Long-Term Financial Goals

Delivering Long-Term Average Annual Organic Sales Growth of 3% to 5%
Continuing to Leverage SG&A

Expanding Segment Earnings Margins to 15% by YE 2018

Generating Average Annual Earnings Growth of at Least 10%
Producing at Least $4.0 Bn of Cash Flow from Operations
over Five Years (2014-18)(1)
Targeting Year End Bank Leverage Ratio at or Below 3.0x

Delivering Diluted Adjusted EPS of $4.00 by YE 2018(2)

Note: (1) Cash flow from operations delivered from 2009-2013 was $2.5 Bn.
(2) Diluted adjusted EPS of $4.00 reflects the November 2014, 3-for-2 share split and is unchanged and equivalent to the pre-split target value of $6.00.

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2015 Investor Presentation

Q&A