Q2FY17EarningsResults

April 6, 2017

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 BIKE® 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; 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, 2016 which the Company filed with the SEC on October 24, 2016 and in the Company’s Quarterly Report on Form 10-Q for the period ended February 28, 2017 which the Company expects to file with the SEC on April 6, 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 April 6, 2017 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.

Forward-LookingStatements

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Q2FY17Results

Q2 FY17 Q2 FY16 % Change

Net Sales $96.5 $94.6 2%

Gross Profit (%) 56.4% 55.4% 100 bp

Operating Income $18.9 $17.9 5%

Net Income $12.4 $13.7 -10%

EPS (Diluted) 0.87 0.94 -7%

Q2FY17Results

• Top-line sales growth was impacted by foreign currency exchange rates in Q2 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 $2.1 million

• Net income was negatively impacted as a result of fluctuations in some non-operating currency related items period over period as well as an adjustment that was recorded to income tax expense in Q2 FY17

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($ in millions; except EPS, gross profit and % change)

Functional currencyMain currency in which subsidiaries conduct

business; typically the same as that of the country in which the subsidiary is

headquartered

Transaction currencyCurrency in which sales,

costs, expenses are transacted; typically the

same as that of the country in which the sales transaction

takes place

Reporting currencyAs a U.S. based company the reporting currency of WD-40 Company is the

U.S. dollar Conversionfrom

transaction currency to

subsidiaries’ functional currency

Translation from

functional currency to

WD-40 Company’s

reporting currency

ForeignCurrencyImpact

Translation Impact

Transaction Impact

Subsidiary (Functional Currency)

UK – GBPCANADA- CAD

AUSTRALIA- AUDCHINA- CNY

Subsidiary(Non-Functional Currency)

UK – USD & EUR

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Q2 FY17 net sales at Q2 FY17 FX rates Q2 FY17 net sales at Q2 FY16 FX rates Q2 FY17 net sales at Q2 FY16 FX rates

Q2FY17ForeignCurrencyExchangeImpact

In total changes in FX rates reduced net sales by ~$2.1M in Q2FY17

$96.5

$102.9

$98.6

Reported Net Sales Translation Impact Transaction Impact

Translation Impact(Functional Currency)

Translation and Transaction Impact

Reporting Currency

Q2 FY17 Net Sales(In millions)

(constant currency) (constant currency plus transaction impacts)(as reported)

$6.4 $4.3

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$39.2 $39.0

$5.9 $6.5

Q2 FY17 Q2 FY16

Americas Net Sales(in millions)

Maintenance Products Homecare and Cleaning Products

AmericasSegmentAmericas – Q2 FY17 vs. Q2 FY16

$45.1 $45.5

• Total reported segment sales ▼ 1%• Segment makes up 47% of global sales

• Maintenance product sales flat• HCCP sales ▼ 10%

• Maintenance Product (MP) sales: • U.S. MP sales flat

• Latin America MP sales ▼ 3%• Canadian MP sales ▲ 25%

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$35.0 $33.9

$1.2 $1.7

Q2 FY17 Q2 FY16

EMEA Net Sales(in millions)

Maintenance Products Homecare and Cleaning Products

EMEASegmentEMEA – Q2 FY17 vs. Q2 FY16

$35.6$36.2

• Total reported segment sales ▲ 2%• Segment makes up 37% of global sales

• Changes in foreign currency exchange rates had an unfavorable impact on sales

• Maintenance product sales ▲ 3%• HCCP sales ▼ 32%

• EMEA direct market sales ▼ 2%

• 64% of segment sales came from direct markets

• In GBP-based markets sales ▼ 5% in GBP• In EUR-based markets sales ▲ 7% in EUR

• EMEA distributor market sales ▲ 10%• 36% of segment sales came from distributor

markets

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$13.5$11.8

$1.7

$1.6

Q2 FY17 Q2 FY16

Asia-Pacific Net Sales(in millions)

Maintenance Products Homecare and Cleaning Products

Asia-PacificSegmentAsia-Pacific – Q2 FY17 vs. Q2 FY16

$13.4$15.2

• Total reported Asia-Pacific sales ▲ 14%• Segment makes up 16% of global sales

• Maintenance product sales ▲ 15%• HCCP sales ▲ 3%

• Australia sales ▲ 1%• In functional currency (AUD) sales ▼ 2%

• China sales ▲ 17%• In functional currency (RMB) sales ▲ 25%

• Asia distributor market sales ▲ 21%

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55/30/25BusinessModel

GrossMargin

Gross margin can be impacted positively and negatively by things not under the Company’s control like changes in foreign currency exchange rates and input costs

FY1656%

FY1553%

FY1452%

Gross Margin – 55.4% Q2 FY16 vs. 56.4% Q2 FY17 (+1.0pp)• Changes in foreign currency exchange rates in EMEA

(+1.6pp)• Lower advertising and promotional discounts (+0.3pp)• Sales mix changes and miscellaneous costs (-0.7pp)• Changes in petroleum-based specialty chemicals and aerosol

cans primarily in EMEA (-0.1pp)• Higher warehousing and in-bound freight costs (-0.1pp)

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Q2FY1755/30/25Results

* 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.

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55/30/25 Business Model Target Q2 FY17 Actuals

Q2 FY16 Actuals

Q2 FY15 Actuals

Gross Margin 55% 56% 55% 53%Cost of Doing Business 30% 35% 35% 33%EBITDA 25% 21% 22% 18%

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Guidance

Diluted EPS

Net Income

A&P Investment

Gross Margin

Net Sales

Sales Growth Between 2% and 4%

Between $390 and $395 million

Above 56%

Below 6.0% of net sales

Between $51.3 and $52.3 million

Between $3.64 and $3.71 based on 14.1 million shares outstanding

*As of 4/6/17. This guidance does not include any future acquisitions or divestitures and assumes that foreign currency exchange rates and crude oil prices will remain close to current levels for the remainder of fiscal year 2017.

UpdatedFiscalYear2017Guidance*

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Changes to guidance indicated in BLUE.

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Appendix

Q2 FY17 CC* Q2 FY16 % Change

Net Sales $102.9 $94.6 9%

Operating Income $20.8 $17.9 16%

Net Income $13.7 $13.7 0%

EPS (Diluted) $0.96 $0.94 2%

Q2 FY17 Q2 FY16 % Change

Net Sales $96.5 $94.6 2%

Gross Profit (%) 56.4% 55.4% 100 bp

Operating Income $18.9 $17.9 5%

Net Income $12.4 $13.7 -10%

EPS (Diluted) 0.87 0.94 -7%

ForeignCurrencyTranslationImpactor“ConstantCurrency”– Q2FY17

Financial ResultsAs reported

Financial ResultsConstant currency basis

*Q2 FY17 results translated at Q2 FY16 foreign currency exchange rates

($ in millions; except EPS, gross profit and % change)

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

Non-GAAPReconciliation– Q2FY17

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.

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Total operating expenses - GAAP $ 35,600 $ 34,456 Amortization of definite-lived intangible assets (717) (747) Depreciation (in operating departments) (700) (690)

Cost of doing business $ 34,183 $ 33,019 Net sales $ 96,519 $ 94,550 Cost of doing business as a percentage of net sales - non-GAAP 35% 35%

EBITDA:

Net income - GAAP $ 12,360 $ 13,669 Provision for income taxes 6,046 5,323 Interest income (133) (183) Interest expense 598 417 Amortization of definite-lived intangible assets 717 747 Depreciation 961 903

EBITDA $ 20,549 $ 20,876 Net sales $ 96,519 $ 94,550 EBITDA as a percentage of net sales - non-GAAP 21% 22%

Three Months Ended

2017 2016February 28, February 29,

Three Months Ended

2017 2016February 28, February 29,