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Fiscal Year 2013

Third Quarter

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

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http://www.wd40company.com/

WHO ARE WE?

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Guiding Principles

Vision

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

Mission

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

Values

• We value doing the right thing. (Trust)

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

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

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

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

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

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STRATEGIC INITIATIVES

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OUR PEOPLE

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People - Products - Passion

Typhoon Zone

Servant leadership with edge

Review

Values

Planning

Execution

Vision

Learning Moment

Learning Don’t mark my

paper help me get an “A”

Results in a tribal culture that values:

•Caring

•Candor

•Accountability

•Responsibility

What mountain do we want to climb?

Values are principles that guide our

behavior

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

thelearningmoment.net

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OUR BRANDS

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Celebrating 60 years

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Identify & establish geographic WD-40 MUP User Base

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

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

General Maintenance

Products

Lawn & Garden

Landscaping Motor Bike New Category New Category New Category

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

Bundle Bundle Bundle

Grow the core





Bundle Bundle Bundle 13

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

Mental Awareness

Physical Awareness

Make the end user aware and make it easy to buy

The Power of the Shield Leveraging the trust of the brand

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Physical Awareness

Make it easy to buy

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OUR END USERS

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Auto Pro MRO

At-Home – “Non-Enthusiast”

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Continuum of End-Users for Maintenance Products

Industrial Home Trades Class

Manufacturing & Assembly No Go

Go

Doers Enthusiast

Doers Occasional

Non-Doers Type

On the Production Line

Maintenance

Repair Overhaul

MRO

Mechanic Farmer Fleet Construction

Carpenter Electrician Plumbers Maintain Repair

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

Maintain

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

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

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

automotive, DIY, hardware retail

Retail

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

Distributor / Pro Outlet

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

Specified Range

Specific Knowledge

Specific Application

Decision Factor

In Process or on finished goods

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

Our playground 19

INVESTMENT

PERFORMANCE

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$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

$160.00

$180.00

FY07 FY08 FY09 FY10 FY11 FY12

Five Year Comparison of Total Shareholder Return Value of $100 invested August 31, 2007

RUSSELL 2000 S&P 500 WDFC

Five Year Comparison of Total Shareholder Return

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What drove that

PERFORMANCE?

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Investment Snapshot Global, diverse business…

WD-40 sold in 187 countries worldwide.

More than half of revenues were outside the US.

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

Portfolio of 11 brands.

Efficient Operation…

347 employees during FY12.

Sales per employee of $1.0M.

Net income per employee of $0.1M in FY12.

Asset-light strategy…

Average annual capex needs of $2.8M FY10-FY12.

Outsourced manufacturing and distribution.

Current and long-term return to shareholders...

Dividend yield of 2.2%.*

Dividend payout ratio of 48%.*

Dividend increases of 7%-8% in

FY11, FY12 and FY13

Share repurchases of $41M and $40M in FY11 and FY12

Existing $50M share buy-back plan through December 2013 and new $60M plan through August 2015.

Focused on creating value…

ROIC emphasis. ROIC was 26.4% in FY10, 21.9% in FY11 and 23.1% in FY12.

Employee bonuses tied to sales and profit targets.

Priority in new product development (NPD) investment…

NPD has touched every brand.

NPD delivered more than $24M in sales from FY10-FY12.

NPD priority is MPMP category

Small Market Cap…

$879.7M*

15.4M shares outstanding***

Ownership…

Insiders: 6%*

Institutions: 73%*

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

Statistics as of FY12 unless noted otherwise *as of 7/1/2013 Source: Nasdaq Online

**13F Report date 3/31/2013 *** per 5/31/13 Balance Sheet

Financial Foundation…

Strong balance sheet

Strong free cash flow

Strong liquidity & access to capital

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Dividend

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50 / 30 / 20 RULE

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

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

____ of net sales1

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

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

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The 50 / 30 / 20 Rule

•The “50” or Gross margin improvement

• Product Development • New Product introductions

• Product reformulations

• Operational efficiencies

• Mix - Product mix and market mix

• Pricing – as needed to offset input cost increases

The 50 / 30 / 20 Rule

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FY14 +50%

FY13 50%

FY12 49%

•The “30” or Leveraging our global infrastructure

• 75% of the “30” in 3 areas

Our People – Investments in our tribe

Investments in marketing, advertising and promotion

Freight – the cost of getting our products to our customers

Advertising & Sales

Promotion

Freight

Personnel

Professional Services

Office Overhead

Travel & Meeting Expenses

R&D Project Expenses

Broker Commissions

Insurance

All Other

% COB

The 50 / 30 / 20 Rule

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Revenue growth is key to achieving the “30” target

What makes up the cost of a can?

Approximate Cost Breakdown of a can of WD-40

40%

10%29%

19%

2%Petroleum-based products

Manufacturing Fees

Can

Plastic

Corrugate

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*As of May 2013

RESULTS

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• Net sales increased $6.1 million, or 7%. Sales growth in Multi-purpose maintenance products more than offset sales declines in Homecare & cleaning products.

• Gross margin was 51.3% compared to 49.5% in the prior fiscal year period. The increase was driven by price increases, lower discounts, and favorable impacts from our strategic initiatives.

• Net income increased $1.1 million, or 12%. Diluted earnings per common share were $0.66 versus $0.57 in the prior fiscal year period.

• We are making progress on our strategic initiatives. The WD-40 Specialist product line contributed to the MPMP sales growth. We also benefited from manufacturing in China and the North American Supply Chain architecture project.

• We repurchased $9.8 million of our shares under our existing $50 million share buy-

back plan and approved a new $60 million plan effective through August 2015.

Q3 FY13 Highlights

Q3 FY13 vs. Q3 FY12

($M) FY13 FY12 Change

Sales 93.1$ 87.0$ 7%

Gross Profit % 51.3% 49.5% 180 bp

Op Income 15.0$ 13.1$ 14%

Net Income 10.3$ 9.1$ 12%

EPS (Diluted) 0.66$ 0.57$ 16%

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Q3 FY13 vs. Q3 FY12 Constant Currency Basis*

($M) FY13CC FY12 Change

Sales 94.9$ 87.0$ 9%

Op Income 15.3$ 13.1$ 16%

Net Income 10.5$ 9.1$ 15%

EPS (Diluted) 0.67$ 0.57$ 18%

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*Q3 FY13 results translated at Q3 FY12 exchange rates

Q3 FY13 Compared to Q3 FY12

Sales – $93.1M, Up 7%

• Multi-purpose maintenance products up

12%

• Homecare & cleaning products down 18%

• Americas up 8%, Europe up 8%, and Asia

Pacific was flat

Operating Expenses - $32.8M, Up 10%

• SG&A up $3.0M driven by higher

employee-related costs and travel and

meeting expenses.

• A&P investment down $0.1M. Higher

investment in Europe was more than

offset by lower investment in the

Americas and Asia Pacific segments.

Gross Margin – 51.3% vs. 49.5% (+1.8pp)

• Price increases (+1.1pp)

• Lower discounts (+0.3pp)

• Changes in petroleum-based material costs

and aerosol can costs (+0.1pp)

• Changes in other raw material costs and

manufacturing costs (-0.2pp)

• Impact from the North American supply chain

architecture project (+0.3pp)

• Lower COGS in China due to local sourcing

(+0.1pp)

• FX Impact in Europe (+0.3pp)

• Impact from changes in sales mix and other

misc (-0.2pp)

FX Impact – Constant Currency vs. Reported

• At FY12 FX rates, sales would have been higher by $1.8M

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YTD FY13 vs. YTD FY12


Sales 275.1$ 257.9$ 7%

Gross Profit % 50.8% 49.1% 170 bp

Op Income 45.3$ 38.1$ 19%

Net Income 31.7$ 26.5$ 19%

EPS (Diluted) 2.01$ 1.64$ 23%

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YTD FY13 vs. YTD FY12 Constant Currency Basis*


Sales 275.9$ 257.9$ 7%

Op Income 45.4$ 38.1$ 19%

Net Income 31.7$ 26.5$ 20%

EPS (Diluted) 2.01$ 1.64$ 23%

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*YTD FY13 results translated at YTD FY12 exchange rates

YTD FY13 Compared to YTD FY12

Sales – $275.1M, Up 7%


11%


• Americas up 2%, Europe up 13%, and

Asia Pacific up 7%


• SG&A up $7.6M driven by higher

employee-related costs and travel and

meeting expenses

• A&P investment down $1.5M driven by

lower costs associated with promotional

programs in the Americas period over

period.

Gross Margin – 50.8% vs. 49.1% (+1.7pp)


• Lower discounts (+0.5pp)


and aerosol can costs (-0.1pp)

• Changes in other raw material costs and

manufacturing costs (-0.2pp)

• Impact from the North American supply chain

architecture project (+0.3pp)

• Lower COGS in China due to local sourcing

(+0.1pp)

• FX Impact in Europe (-0.2pp)

• Impact from changes in sales mix and other

misc (+0.2pp)



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3 Year Trend

40

$310

$315

$320

$325

$330

$335

$340

$345

FY10 FY11 FY12

Net Sales $M

48.0%

48.5%

49.0%

49.5%

50.0%

50.5%

51.0%

51.5%

52.0%

FY10 FY11 FY12

Gross Margin %

$34.0

$34.5

$35.0

$35.5

$36.0

$36.5

$37.0

FY10 FY11 FY12

Net Income $M

Fiscal Year Results FY12 vs. FY11


Sales 342.8$ 336.4$ 2%

Gross Profit % 49.2% 50.0% -80 bp

Op Income 51.7$ 54.1$ -4%

Net Income 35.5$ 36.4$ -3%

EPS (Diluted) 2.20$ 2.14$ 3%

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Fiscal Year Results FY12 vs. FY11 Constant Currency Basis*


Sales 343.8$ 336.4$ 2%

Op Income 52.0$ 54.1$ -4%

Net Income 35.7$ 36.4$ -2%

EPS (Diluted) 2.21$ 2.14$ 3%

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

FY12 Compared to FY11

Sales – $342.8M, Up 2%


3%


• Americas up 4%, Europe down 7%, and

Asia-Pacific up 18%


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

employee related expenses, as well as

higher professional services and freight

costs

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

higher level of activities in our Asia-

Pacific segment

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



and aerosol can costs (-1.1pp)

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

• Net lower manufacturing costs in China

(+0.3pp)

• Net impact from the supply chain architecture

project (-0.6pp)

• FX Impact in Europe (-0.2pp)

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



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FISCAL YEAR 2013 GUIDANCE

AS OF JULY 2013

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• Sales growth between 4% and 8%, with Net Sales of $356-$370 million

• Gross margin close to 51%

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

• Net Income of $37.6-$39.0 million

• Diluted EPS of $2.40 to $2.48 based on estimated 15.7 million shares outstanding

Fiscal Year 2013 guidance

Conditions that impact our outlook

• Global economic recovery and expansion or ….at least

stability

• Initiatives to maximize multi-purpose maintenance products

– the continued launch of WD-40 Specialist products

• Gross Margin

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

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

• Stabilized Homecare & Cleaning product revenues

• Current foreign currency exchange rates

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Favorable

Uncertain

Unfavorable

LAST WORD

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Key Takeaways

• RESULTS FOR YTD FY13

Net sales increased $17.1 million, or 7%. Sales growth in Multi-purpose

maintenance products more than offset sales declines in Homecare & cleaning

products.

Cost savings from the North American supply chain architecture project and our

local sourcing initiative in China helped us exceed our 50% gross margin target.

Net income increased $5.2 million, or 19%. Diluted earnings per share grew from

$1.64 to $2.01 per share.

•OUR PERSPECTIVE

We have updated our guidance with sales growth of 4% to 8% with diluted EPS of

$2.40 to $2.48 for fiscal year 2013.

We are excited about the future opportunities we see!

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APPENDIX

49

50 / 30 / 20 Rule

Measure of Net Sales Target YTD FY13 FY12 FY11

Gross Margin 50% 51% 49% 50%

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

EBITDA* 20% 18% 16% 17%

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

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

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Three Months Three Months

Cost of Doing Business Ended 5/31/13 Ended 5/31/12

Total Operating Expenses- GAAP $32,826 $29,942

Amortization of definite-lived intangible assets ($523) ($504)

Depreciation (in Operating Departments) ($483) ($417)

Cost of doing business $31,820 $29,021

Net Sales $93,103 $87,022

Cost of doing business as % of net sales 34% 33%

Three Months Three Months

EBITDA Ended 5/31/13 Ended 5/31/12

Net Income- GAAP $10,267 $9,136

Income Tax Expense $4,520 $3,736

Interest income ($105) ($61)

Interest expense $182 $159

Amortization of definite-lived intangible assets $523 $504

Depreciation $804 $712

EBITDA $16,191 $14,186

Net Sales $93,103 $87,022

EBITDA as % of net sales 17% 16%


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Nine Months Nine Months



Amortization of definite-lived intangible assets ($1,454) ($1,669)

Depreciation (in Operating Departments) ($1,354) ($1,189)


Net Sales $275,079 $257,933


Nine Months Nine Months





Interest expense $483 $484

Amortization of definite-lived intangible assets $1,454 $1,669

Depreciation $2,311 $2,022

EBITDA $49,516 $41,498

Net Sales $275,079 $257,933



Twelve Months Twelve Months



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

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


Net Sales $342,748 $336,409


Twelve Months Twelve Months





Interest expense $729 $1,076

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

Depreciation $2,736 $2,849

EBITDA $56,250 $58,765

Net Sales $342,748 $336,409


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