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Fiscal 2027 First-Quarter Results October 6, 2026
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Forward-Looking Statements & Regulation G 2Fiscal 2027 First-Quarter Results | October 6, 2026 This presentation includes forward-looking statements relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us and are subject to uncertainties and factors (inc luding those specified below), which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materia lly from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) global and regional markets and general economi c conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the viability of banks and oth er financial institutions; (b) the prices, supply and availability of raw materials, including assorted pigments, resins, solvents, and other natural gas - and oil-based materials; packaging, including plastic and metal containers; and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d ) legal, environmental and litigation risks inherent in our businesses and risks related to the adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon our foreign operations; (g) changes in global trade policies, includin g the adoption or expansion of tariffs and trade barriers; (h) the effect of non-currency risks of investing in and conducting operations in foreign countries, includi ng those relating to domestic and international political, social, economic and regulatory factors; ( i) risks and uncertainties associated with our ongoing acquisition and divestiture activities; (j) the timing of and the realization of anticipated cost savings from restructuring initiatives, the ability to identify additional cost savings opportunities, and the risks of failing to meet any other objectives of our improvement plans; (k) risks related to the adequacy of our contingent liability reserves; (l) risks relating to a public health crisis similar to the Covid pandemic; (m) risks related to acts of war similar to the Middle East conflict and the Rus sian invasion of Ukraine; (n) risks related to the transition or physical impacts of climate change and other natural disasters or meeting sustainability -related voluntary goals or regulatory requirements; (o) risks related to our or our third parties' use of technology including AI, data breaches and data privacy violations; (p) the shift to remote work and online purchasing and the impact that has on residential and commercial real estate construction; and (q) other risks detailed in ou r filings with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form 10 -K for the year ended May 31, 2026, as the same may be updated from time to time. We do not undertake any obligation to publicly update or revise any forward -looking statements to reflect future events, information or circumstances that arise after the filing date of this document. This presentation includes certain company data that do not directly conform to generally accepted accounting principles, or GAAP, and certain company data that have been restated for improved clarity, understanding and comparability, or pro forma. All non-GAAP data in this presentation are indicated by footnote. Tables reconciling such data with GAAP measures are available through our website, www.rpminc.com under Investor Information/Present ations.
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3Fiscal 2027 First-Quarter Results | October 6, 2026 Record Results Despite Sluggish End Markets PCG & Consumer Strength + MAP Benefits Offset Temporary CPG Softness FINANCIAL HIGHLIGHTS $405.5M Q1 RECORD ADJUSTED EBITDA ¹ +4.5% FROM PY (1) Adjusted EBITDA and adjusted EPS are non-GAAP financial measures. Refer to Appendix for reconciliations between GAAP and non-GAAP measures. $2.22B Q1 RECORD REVENUE +4.8% FROM PY $1.98 Q1 RECORD ADJUSTED EPS¹ +5.3% FROM PY 4.8% 4.5% 0% 2% 4% 6% 8% Consolidated RECORD Q1 RESULT ✓ ✓ Q1-27 YoY Growth SALES ADJ. EBITDA¹ ✓ ✓ ✓ ✓ 0.8% 10.2% 5.3% -9.7% 18.2% 5.5% -10% -5% 0% 5% 10% 15% 20% 25% CPG PCG Consumer ✓
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4Fiscal 2027 First-Quarter Results | October 6, 2026 SG&A Optimization Actions Support Adjusted EBITDA Margins (1) Adjusted EBITDA is a non-GAAP financial measure. Refer to Appendix for reconciliations between GAAP and non-GAAP measures. 18.4% 18.3% 10% 12% 14% 16% 18% 20% Adjusted EBITDA Margin¹ 42.3% 41.3% 34% 38% 42% Gross Margin Q1-26 Q1-26 Q1-27Q1-27 100 bps headwind primarily from inflation Essentially flat as SG&A optimization offset gross margin pressure
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Sales Growth in USD by Region | Q1-27 NORTH AMERICA 77% of Q1 total sales +2.6% LATIN AMERICA 4% of Q1 total sales +23.1% AFRICA/MIDDLE EAST/ OTHER FOREIGN 2% of Q1 total sales +26.8% EUROPE 15% of Q1 total sales +5.9% ASIA/PACIFIC 2% of Q1 total sales +38.4% Fiscal 2027 First-Quarter Results | October 6, 2026 5 KEY POINTS • >20% growth in emerging markets (Platform Group), driven by strong demand for engineered solutions for high-performance building and infrastructure projects • North American growth driven by Performance Coatings and Consumer improvement • European growth driven by M&A TOTAL RPM +4.8%
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6Fiscal 2027 First-Quarter Results | October 6, 2026 Fiscal 2027 First-Quarter Financial Results | Consolidated MAP Benefits and Balanced Business Model Drive Record Results ($ in millions, except per share amounts) Q1 2027 Q1 2026 % Change Sales $2,215.6 $2,113.7 +4.8% Adjusted EBITDA1 $405.5 $388.0 +4.5% Adjusted EBITDA Margin1 18.3% 18.4% -10 bps Net Income $256.4 $227.6 +12.6% Diluted EPS $2.01 $1.77 +13.6% Adjusted Diluted EPS1 $1.98 $1.88 +5.3% (1) Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted Diluted EPS are non-GAAP financial measures. Refer to Appendix for reconciliations between GAAP and non-GAAP measures. KEY POINTS • Record sales driven by solid organic growth at PCG & Consumer, including pricing to offset inflation • Acquisitions contributed to sales growth • Sales included a 3.1% organic increase, a 1.6% increase from acquisitions net of divestitures, and a 0.1% tailwind from F/X • Record adjusted EBITDA driven by higher sales and MAP operational benefits, including SG&A optimization • Lower healthcare expenses driven by procurement efforts to reduce prescription drug costs • Higher raw material inflation, warranty expenses at a business that is under review for closure ($6.3M) and bad debt expense from a customer bankruptcy ($4.4M) were profitability headwinds • Record adjusted EPS driven by adjusted EBITDA growth
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7Fiscal 2027 First-Quarter Results | October 6, 2026 Fiscal 2027 First-Quarter Financial Results Raw Material Shortages Contribute to Organic Sales Declines (1) Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Refer to Appendix for reconciliations between GAAP and non-GAAP measures. • Sales below expectations, which were driven by slowdown in education and healthcare markets and product shortages due to supplier raw material challenges • Kalzip acquisition and pricing to offset inflation drove sales increase • Lower volumes led to lower fixed-cost absorption • Additional profitability headwinds from higher raw material inflation, bad debt expense from a customer bankruptcy and warranty expenses from a small European business that is under review for closure, partially offset by SG&A optimization actions ($ in millions, except margins) Q1 2027 Q1 2026 % Change Sales $859.2 $852.0 +0.8% Adjusted EBITDA1 $166.2 $183.9 -9.7% Adjusted EBITDA Margin1 19.3% 21.6% -230 bps CONSTRUCTION PRODUCTS GROUP Sales Components • Organic -1.7% • Acquisitions / divestitures +2.5% • F/X 0.0%
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PERFORMANCE COATINGS GROUP 8Fiscal 2027 First-Quarter Results | October 6, 2026 Fiscal 2027 First-Quarter Financial Results Record results driven by broad-based strength ($ in millions, except margins) Q1 2027 Q1 2026 % Change Sales $629.7 $571.6 +10.2% Adjusted EBITDA1 $121.1 $102.4 +18.2% Adjusted EBITDA Margin1 19.2% 17.9% +130 bps • Record sales driven by broad-based strength across its businesses, particularly in engineered solutions for high-performance buildings, energy and infrastructure projects • Strong growth in emerging markets and food coatings and ingredients • Pricing increases to offset inflation also contributed to growth • Record adjusted EBITDA was driven by higher sales, increased volumes resulting in improved fixed-cost leverage, and SG&A-focused optimization actions, partially offset by higher raw material inflation Sales Components • Organic +7.9% • Acquisitions +1.8% • F/X +0.5% (1) Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Refer to Appendix for reconciliations between GAAP and non-GAAP measures.
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9Fiscal 2027 First-Quarter Results | October 6, 2026 Fiscal 2027 First-Quarter Financial Results Solid results driven by shelf space wins and MAP benefits ($ in millions, except margins) Q1 2027 Q1 2026 % Change Sales $726.7 $690.2 +5.3% Adjusted EBITDA1 $146.6 $139.0 +5.5% Adjusted EBITDA Margin1 20.2% 20.1% +10 bps • Record sales driven by solid growth across its businesses, aided by shelf space wins, new product introductions and pricing to offset inflation • Higher raw material inflation was partially offset by pricing increases • Adjusted EBITDA driven by sales growth and higher volumes resulting in improved fixed-cost utilization, which was aided by MAP operational improvements, including SG&A optimization actions CONSUMER GROUP Sales Components • Organic +5.2% • Acquisitions +0.3% • F/X -0.2% (1) Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. Refer to Appendix for reconciliations between GAAP and non-GAAP measures.
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10Fiscal 2027 First-Quarter Results | October 6, 2026 Continued Working Capital Efficiency Driven by MAP 23.7% 22.2% 20% 21% 22% 23% 24% Q1-26 Q1-27 Working Capital as a Percentage of Sales¹ 150 bps improvement (1) (Net accounts receivable + inventories – accounts payable) ÷ by trailing 12 months sales Cash Flow and Balance Sheet Update • Working capital efficiency drives 150 bps improvement despite supply chain disruptions • Returned $90.5 million to shareholders through share repurchases and dividends in Q1-27, an increase of 10.2% vs. prior year • Q1-27 capex of $58.5 million compared to $62.5 million in prior year • Liquidity of $1.21 billion at end of Q1-27 • Acquired Volteco, a leading supplier of below-grade waterproofing solutions in Q2-27
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11Fiscal 2027 First-Quarter Results | October 6, 2026 Platform Group Providing Engineered Solutions for High-Performance Buildings Fire Protection Aerospace Facility Middle East Roof Restoration Entertainment Venue Africa Fire Protection Data Center India Floor System Semiconductor Plant Southeast Asia
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RPM Taking Actions to Offset Higher Inflation Fiscal 2027 First-Quarter Results | October 6, 2026 12 CURRENT INFLATION EXPECTATION: • Q2-27: 9% to 11% (previously 6% to 8%) • Q3-27: 7% to 9% RPM RAW MATERIAL OVERVIEW • Generally good supply availability globally • Polyurethane product shortages have improved, but higher costs will impact P&L in Q2-27 • Elevated oil prices have caused inflation expectations to move higher RPM ACTIONS • Widespread incremental pricing actions • Surcharges used to offset rising freight rates
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13Fiscal 2027 First-Quarter Results | October 6, 2026 Q2-27 Outlook Q2-27 OUTLOOK (YOY) SALES | Consolidated +LSD% to +MSD% range Construction Products Group +LSD% range Performance Coatings Group +MSD% to +HSD% range Consumer Group +LSD% to +MSD% range ADJUSTED EBITDA | Consolidated +LSD% to +MSD% range LSD = Low-Single-Digit | MSD = Mid-Single-Digit | HSD = High-Single-Digit Expected Trends in Q2-27 (+) SG&A-focused optimization actions & pricing to recover inflation (+) Infrastructure & energy markets (+) Consumer stabilization (+) Emerging markets (+) Resilient repair and maintenance demand (-) Economic uncertainty (-) Inflation (-) Start-up costs at new shared facilities (-) Softness in education and healthcare markets
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14Fiscal 2027 First-Quarter Results | October 6, 2026 FY27 Full-Year Outlook FY-27 OUTLOOK (YOY) SALES | Consolidated +MSD% (prior outlook +3% to +7%) ADJUSTED EBITDA | Consolidated +MSD% (prior outlook +5% to +10%) Expected Trends in FY27 (+) New MAP program (+) Previously announced $75M SG&A-focused savings (+) Pricing to recover inflation (+) Infrastructure & energy markets (+) Resilient repair and maintenance demand (-) Economic uncertainty (-) Inflation (-) Start-up costs at new shared facilities (-) More challenging comparisons in 2H-27 MSD = Mid-Single-Digit
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Appendix Reconciliation of Non-GAAP to GAAP Measures
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16Fiscal 2027 First-Quarter Results | October 6, 2026 Consolidated Statements of Income: Three Months NOTE – Refer to “Non-GAAP Financial Measures” slide for definition of EBIT. ($ in thousands, except per share and percent data) (Unaudited) 2026 % 2025 % % Change Net Sales 2,215,593$ 2,113,743$ 4.8 Cost of Sales 1,301,631 58.7 1,220,527 57.7 Gross Profit 913,962 41.3 893,216 42.3 SG&A 559,768 25.3 573,534 27.1 Restructuring Expense 5,157 0.2 8,814 0.5 Other (Income), Net (6,033) (0.2) (3,101) (0.2) EBIT** (non-GAAP measure) 355,070 16.0 313,969 14.9 13.1 Interest Expense 25,535 1.2 29,326 1.4 Investment (Income), Net (7,518) (0.4) (13,404) (0.6) Income Before Taxes 337,053 15.2 298,047 14.1 Provision for Income Taxes 80,427 3.6 70,207 3.3 Net Income 256,626 11.6 227,840 10.8 12.6 Less: Net Income Attributable to Noncontrolling Interests 269 0.0 235 0.0 Net Income Attributable to RPM Stockholders 256,357$ 11.6 227,605$ 10.8 12.6 Diluted EPS 2.01$ 1.77$ 13.6 Three Months Ended August 31,
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17Fiscal 2027 First-Quarter Results | October 6, 2026 Non-GAAP Financial Measures The following are the non-GAAP financial measures used in this presentation: *Interest (Income) Expense, Net includes the combination of interest (income) expense and investment (income) expense, net. **EBIT is defined as earnings (loss) before interest and taxes. Management uses EBIT, as defined, as a measure of operating performance, since interest (income) expense, net, essentially relates to corporate functions, as opposed to segment operations. ***Adjusted EBIT is defined as earnings (loss) before interest and taxes, adjusted for items that management does not consider to be indicative of ongoing operations. Management uses Adjusted EBIT, as defined, as a measure of operating performance, since interest (income) expense, net, essentially relates to corporate functions, as opposed to segment operations. ****Adjusted EBITDA is defined as earnings (loss) before interest, taxes, depreciation and amortization, adjusted for items that management does not consider to be indicative of ongoing operations. Management uses Adjusted EBITDA, as defined, as a measure of operating performance, since interest (income) expense, net, relates to corporate functions, as opposed to segment operations. Additionally, adjusted EBITDA is an operating measure that provides investors with a measure of operating results unaffected by differences in capital structures, capital investment cycles and ages of related assets among otherwise comparable companies. Tables reconciling this non-GAAP data with GAAP measures are available in the appendix of this presentation.
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18Fiscal 2027 First-Quarter Results | October 6, 2026 Adjustments Detail A. Includes charges incurred related to headcount reductions and facility closures recorded in "Restructuring Expense" on the Consolidated Statements of Income. Restructuring Expense related to MAP 2025 totaled $0.7 million and $8.8 million for the three months ended August 31, 2026 and August 31, 2025 respectively. Other related expenses include inventory write-offs in connection with restructuring activities recorded in "Cost of Sales" and accelerated depreciation and amortization recorded within "Cost of Sales" or "Selling, General, & Administrative Expenses ("SG&A")" depending on the nature of the expense. B. Includes charges incurred related to headcount reductions and facility closures associated with the SG&A-focused optimization actions and other early stage MAP 3.0 actions recorded in "Restructuring Expense" on the Consolidated Statements of Income. Restructuring Expense related to the 2026 restructuring action totaled $4.5 million for the quarter ended August 31, 2026. Other related expenses consist of higher executive departure costs, including accelerated stock compensation expense, that do not qualify as restructuring expense and are recorded within "SG&A" as well as accelerated depreciation recorded within "Cost of Sales" or “SG&A" depending on the nature of the expense. Other related expenses also includes inventory write-offs in connection with restructuring activities recorded in "Cost of Sales". C. Includes expenses incurred as a result of our stated goals to consolidate over 75 ERP systems across the organization to one ERP platform per segment, as part of our overall MAP strategy as well as costs incurred for other decision support tools to facilitate our commercial initiatives related to MAP 2025 which have been incurred in all segments, as well as Corporate/Other, and have been recorded within "SG&A". D. Includes expenses incurred to consolidate accounting locations, costs incurred to implement technologies and processes to drive improved data analytics/decision making and cost incurred to implement new global manufacturing methodologies with the goal of improving operating efficiency incurred within all of our segments as well as Corporate/Other and recorded within "SG&A". All of this spend is in support of stated MAP goals with the most significant expense incurred within Corporate/Other. E. Net gain recognized related to the sale of certain properties within the PCG and Consumer Segments which were closed as part of the MAP 2025 program.
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19Fiscal 2027 First-Quarter Results | October 6, 2026 Adjustments Detail Continued F. Amortization of inventory fair value adjustments related to acquisitions recorded in “Cost of Sales”. G. Fair value adjustments of the earn-out liabilities associated with two small acquisitions, which were recorded in "SG&A". Management does not consider these gains to be reflective of the company’s core business operations. H. This adjustment eliminates the compensation expense impact from market valuation changes in deferred compensation liabilities. Although not included in this schedule, the company also adjusts the related net gains (losses) on investments used as economic hedges against the related liabilities. The liabilities are adjusted based on the performance of hypothetical investments selected by participants. Management believes it is useful to offset the non-operating investment income (loss) of the investments against the related compensation expense and remove the net impact to help the reader's ability to understand the company's core operating results and to increase comparability period to period. I. Investment returns include realized net gains and losses on sales of investments and unrealized net gains and losses on equity securities, which are adjusted due to their inherent volatility. Management does not consider these gains and losses, which cannot be predicted with any level of certainty, to be reflective of the company's core business operations. J. Depreciation expense includes charges to income that result from property, plant and equipment depreciation and the amortization of assets recorded under finance leases recorded within "Cost of Sales" or "SG&A" depending on the nature of the expense. This excludes accelerated depreciation related to MAP initiatives. K. Amortization expense includes intangible asset amortization as well as amortization of deferred cloud computing implementation costs.
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20Fiscal 2027 First-Quarter Results | October 6, 2026 Reconciliation of "Reported" to "Adjusted" EPS: Three Months (Unaudited) Reconciliation of Reported Earnings per Diluted Share to Adjusted Earnings per Diluted Share (All amounts presented after-tax): 2026 2025 Reported Earnings per Diluted Share 2.01$ 1.77$ MAP 2025 restructuring and other related expenses, net (a) - 0.06 2026 restructuring and other related expenses, net (b) 0.03 - ERP consolidation plan (c) 0.01 0.02 Professional fees (d) 0.02 0.02 (Gain) on sale of closed facilities, net (e) (0.05) - Inventory step-up costs (f) - 0.04 (Gain) on acquisition earn-out fair value adjustments (g) (0.03) - Investment returns (i) (0.01) (0.03) Adjusted Earnings per Diluted Share***** 1.98$ 1.88$ Three Months Ended August 31, NOTE: Refer to "Adjustments detail" slide for further information on adjustments outlined above *****Adjusted EPS is provided for the purpose of adjusting diluted earnings per share for items impacting earnings that are not considered by management to be indicative of ongoing operations.
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21Fiscal 2027 First-Quarter Results | October 6, 2026 EBITDA** (Non-GAAP Measure): RPM Consolidated: Three Months ($ in thousands, except percent data) (Unaudited) 2026 2025 Net Income 256,626$ 227,840$ Provision for Income Taxes 80,427 70,207 Income Before Income Taxes 337,053 298,047 Interest Expense 25,535 29,326 Investment (Income), Net (7,518) (13,404) EBIT** (non-GAAP measure) 355,070 313,969 MAP 2025 restructuring and other related expenses, net (a) 732 10,599 2026 restructuring and other related expenses, net (b) 5,522 - ERP consolidation plan (c) 1,809 2,966 Professional fees (d) 4,128 3,141 (Gain) on sale of closed facilities, net (e) (10,753) - Inventory step-up costs (f) 57 7,117 (Gain) on acquisition earn-out fair value adjustments (g) (4,945) - Deferred compensation (h) 1,120 - Adjusted EBIT*** (non-GAAP measure) 352,740$ 337,792$ Depreciation (j) 40,724 38,788 Amortization (k) 11,993 11,468 Adjusted EBITDA****(non-GAAP measure) 405,457$ 388,048$ Net Sales 2,215,593$ 2,113,743$ Adjusted EBITDA**** as a % of Net Sales (non-GAAP measure) 18.3% 18.4% Three Months Ended August 31, NOTE – Refer to “Non-GAAP Financial Measures” slide for definitions of non-GAAP measures identified (*) in the table above and “Adjustments Detail” slide for further information on adjustments outlined above.
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22Fiscal 2027 First-Quarter Results | October 6, 2026 EBITDA** (Non-GAAP Measure): Construction Products Segment: Three Months ($ in thousands, except percent data) (Unaudited) 2026 2025 Income Before Income Taxes 149,110$ 159,184$ Add: Interest Expense, Net* 896 1,623 EBIT** (non-GAAP measure) 150,006 160,807 MAP 2025 restructuring and other related expenses, net (a) 689 4,295 2026 restructuring and other related expenses, net (b) 442 - ERP consolidation plan (c) - 659 Professional fees (d) 161 226 (Gain) on acquisition earn-out fair value adjustments (g) (4,700) - Adjusted EBIT*** (non-GAAP measure) 146,598$ 165,987$ Depreciation (j) 16,928 15,431 Amortization (k) 2,667 2,526 Adjusted EBITDA***(non-GAAP measure) 166,193$ 183,944$ Net Sales 859,209$ 851,997$ Adjusted EBITDA**** as a % of Net Sales (non-GAAP measure) 19.3% 21.6% Three Months Ended August 31, NOTE – Refer to “Non-GAAP Financial Measures” slide for definitions of non-GAAP measures identified (*) in the table above and “Adjustments Detail” slide for further information on adjustments outlined above.
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23Fiscal 2027 First-Quarter Results | October 6, 2026 EBITDA** (Non-GAAP Measure): Performance Coatings Segment: Three Months ($ in thousands, except percent data) (Unaudited) 2026 2025 Income Before Income Taxes 107,302$ 86,795$ Add: Interest (Income), Net* (1,716) (1,730) EBIT** (non-GAAP measure) 105,586 85,065 MAP 2025 restructuring and other related expenses, net (a) 65 4,028 2026 restructuring and other related expenses, net (b) 1,595 - ERP consolidation plan (c) 270 539 Professional fees (d) 517 370 Loss on sale of closed facilities, net (e) 56 - Inventory step-up costs (f) 57 - (Gain) on acquisition earn-out fair value adjustments (g) (245) - Adjusted EBIT*** (non-GAAP measure) 107,901$ 90,002$ Depreciation (j) 9,883 9,382 Amortization (k) 3,289 3,032 Adjusted EBITDA***(non-GAAP measure) 121,073$ 102,416$ Net Sales 629,650$ 571,593$ Adjusted EBITDA**** as a % of Net Sales (non-GAAP measure) 19.2% 17.9% Three Months Ended August 31, NOTE – Refer to “Non-GAAP Financial Measures” slide for definitions of non-GAAP measures identified (*) in the table above and “Adjustments Detail” slide for further information on adjustments outlined above.
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24Fiscal 2027 First-Quarter Results | October 6, 2026 EBITDA** (Non-GAAP Measure): Consumer Segment: Three Months ($ in thousands, except percent data) (Unaudited) 2026 2025 Income Before Income Taxes 132,279$ 108,837$ Add: Interest Expense, Net* 118 272 EBIT** (non-GAAP measure) 132,397 109,109 MAP 2025 restructuring and other related (credit) expenses, net (a) (22) 2,276 2026 restructuring and other related expenses, net (b) 3,501 - ERP consolidation plan (c) 1,474 486 Professional fees (d) 926 990 (Gain) on sale of closed facilities, net (e) (10,809) - Inventory step-up costs (f) - 7,117 Adjusted EBIT*** (non-GAAP measure) 127,467$ 119,978$ Depreciation (j) 13,110 13,204 Amortization (k) 5,999 5,786 Adjusted EBITDA***(non-GAAP measure) 146,576$ 138,968$ Net Sales 726,734$ 690,153$ Adjusted EBITDA**** as a % of Net Sales (non-GAAP measure) 20.2% 20.1% Three Months Ended August 31,