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Energizer Holdings, Inc. 2015 Annual Report Annual Inc ENERGIZER HOLDINGS, INC. 2015 ANNUAL REPORT ENERGIZER HOLDINGS, INC. 2015 ANNUAL REPORT ANNUAL INC. 2015 ENERGIZER HOLDINGS, ENERGIZER HOLDINGS, INC. 533 Maryville University Drive St. Louis, MO 63141 (314) 985-2000 www.energizerholdings.com ©2015 Energizer. Energizer, Energizer Bunny design, Eveready and other marks included in this annual report are trademarks of Energizer. Energizer Holdings, Inc. is one of the world’s largest manufacturers of primary batteries and portable lighting products and is anchored by its two globally recognized brands Energizer® and EVEREADY®. As a global leader in power solutions, our mission is to lead the charge to connect our brands, our people and the products we offer to the world better than anyone else. Energizer Holdings, Inc. is traded on the NYSE EXECUTIVE OFFICERS CORPORATE INFORMATION under the ticker symbol ENR. as of September 30, 2015 Alan R. Hoskins Mark S. Lavigne Corporate Headquarters Transfer Agent, Registrar President and Chief Executive Vice President and Energizer Holdings, Inc. and Dividend Paying Agent SEGMENT BREAKDOWN Executive Officer Chief Operating Officer 533 Maryville University Drive Continental Stock Transfer & Trust St. Louis, MO 63141 Company is Energizer’s stock Fiscal 2015 Brian K. Hamm Emily K. Boss (314) 985-2000 transfer agent, registrar and ($ in millions) Executive Vice President and Vice President and www.energizerholdings.com dividend paying agent, and Chief Financial Officer General Counsel maintains the Company’s Fiscal Year End shareholder records. Shareholders NET SALES SEGMENT PROFIT Greg Kinder Sue Drath September 30 seeking information about account Executive Vice President and Vice President and records, stock certificates and Chief Supply Chain Officer Chief Human Resource Officer Independent Accountants change of address should contact: $304.8 $77.9 PricewaterhouseCoopers LLP Asia Pacific St. Louis, Missouri Continental Stock Transfer Asia Pacific & Trust Company Annual Meeting 17 Battery Place South, 8th Floor The Company’s annual meeting New York, NY 10004 of shareholders is scheduled for (800) 509-5586 $831.3 BOARD OF DIRECTORS February 1, 2016, at 8:00 a.m. at North America Energizer’s World Headquarters, Dividends $58.3 533 Maryville University Drive, The company paid its first EMEA (3) (1)(3) $234.6 J. Patrick Mulcahy John E. Klein St. Louis, MO 63141. quarterly dividend of $0.25 on $370.4 Chairman of the Board, Retired President, September 9, 2015. EMEA North America Energizer Holdings, Inc. and Randolph College Stock Symbol Retired Chief Executive Officer, ENR (NYSE) Cautionary statements regarding $20.7 Energizer Holdings, Inc. W. Patrick McGinnis (3) Forward-Looking Statements Latin America $125.1 Chairman of the Board, Financial Community Information We discuss expectations regarding (1)(2) Inquiries from institutional future performance, events and Latin America Bill G. Armstrong Nestle Purina PetCare Company, Retired Executive Vice President and retired Chief Executive investors, financial analysts, outcomes, such as our business and Chief Operating Officer, Officer and President, registered representatives, outlook and objectives, in this Cargill Animal Nutrition Nestle Purina PetCare Company portfolio managers and individual annual report. All such statements FINANCIAL HIGHLIGHTS shareholders should be are “forward-looking statements,” Cynthia J. Brinkley (2) Patrick J. Moore (1) directed to Investor Relations and are based on financial data Year Ended September 30 Executive Vice President, President and Chief Executive at Energizer’s corporate and our business plans available headquarters listed above. as of the date of this annual ($ in millions, except per share data) 2015 2014 In addition to its earnings presented in accordance International Operations and Officer of PJM Advisors, LLC with generally accepted accounting principles (GAAP), Business Integration, Centene report, which may become out-of- Energizer has presented certain non-GAAP measures Corporation John R. Roberts (1) Code of Conduct date or incomplete. We assume no Diluted EPS - GAAP $ (0.06) $ 2.53 in the table to the left, which it believes are useful to Retired Executive Director, The Company has adopted a code obligation to update any forward- Impacts Expense (Income) readers in addition to traditional GAAP measures. These measures should be considered an alternative Alan R. Hoskins (3) Civic Progress St. Louis and of conduct that is applicable to all looking statements as a result of Venezuela deconsolidation charge 1.04 – to, but not superior to or as a substitute for, the President and Chief Executive Retired Managing Partner of employees, including the Chief new information, future events or company’s comparable GAAP measures. Spin costs 1.09 0.26 Officer, Energizer Holdings, Inc. Mid-South Region, Arthur Executive Officer, Chief Financial other factors. Forward-looking Spin restructuring 0.43 – Andersen, LLP Officer, Controller and the Board of statements are inherently (*) Kevin J. Hunt (2)(3) Directors. The code of conduct is uncertain and investors must Cost of early debt retirement 0.27 – Free Cash Flow is defined as net cash provided by Retired Chief Executive Officer, (1) Audit Committee posted on the company’s website recognize that actual results could Restructuring 0.10 0.56 operating activities reduced by capital expenditures, (e.g., additions to property, plant and equipment) net of Ralcorp Holdings, Inc. (2) Nominating and Executive Committee at www.energizerholdings.com. be significantly different from our Integration 0.01 – the proceeds from asset sales. The company views free (3) Finance and Oversight Committee. expectations. Risks and cashflow as an important indicator of its ability to repay (2) uncertainties that could cause Adjustments to prior year tax accruals (0.06) – debt, fund growth and return cash to shareholders. Free James C. Johnson results to differ from expectations Diluted EPS - adjusted (Non-GAAP) $ 2.82 $ 3.35 cashflow is not a measure of the residual cashflow that Retired Chief Legal Officer, Loop is available for discretionary expenditures, since the Capital Markets, LLC are detailed in Energizer’s Annual company has certain nondiscretionary obligations, such Report on Form 10-K for the year as debt service, that are deducted from the measure. Free Cash Flow* ended September 30, 2015, and Operating Cash Flow $161.8 $219.9 in our other filings with the Capital Expenditures (40.4) (28.4) Securities and Exchange Commission. Proceeds from Asset Sales 13.7 5.6 Free Cash Flow $135.1 $197.1 Falk Harrison, St. Louis, Missouri Design: ENERGIZER HOLDINGS, INC. 2015 ANNUAL REPORT / PG. 1 TO OUR SHAREHOLDERS In our report to you a year ago, we opened by noting how transformational fiscal year 2014 had been. This year, of course, has been even more so: A fundamental transformation occurred on July 1, 2015, with our successful separation from the personal care business and the creation of the “new” Energizer Holdings, Inc. I want to thank our colleagues for their commitment, Energizer Holdings has a long history of driving shareholder value perseverance and tremendous effort in fiscal year 2015 as we through effective and efficient capital deployment and has a completed the spinoff, while maintaining top-flight customer proven track record of delivering innovative solutions to our service and continuing to operate with excellence. That customers and consumers. The “new” Energizer aims to build dedication, resilience and passion for winning are why I’m so upon both of these legacies to deliver long-term value to our personally excited by the opportunity that lies ahead for the shareholders, customers and consumers. “new” Energizer. We have talented colleagues around the globe, an experienced management team and Board of Directors, both with a wealth of experience, and world-renowned brands – Energizer and Eveready – that allow us to serve billions of A NEW MISSION AND OBJECTIVE FOR ENERGIZER customers in more than a hundred markets around the world. And our track record of innovation is unmatched in our Our Mission: As colleagues, we are leading the charge as the category … with more to come. new Energizer, connecting our brands, our people and the products we offer the world better than anyone else. Our Objective: With a passion for winning, we’re building a bright STRONG LEGACY TO BUILD UPON future that is focused on our objective of maximizing free cash flow and delivering long-term value to our shareholders, Now with the spinoff behind us, we are squarely focused on our customers and consumers. core business, our customers and our consumers … all with the goal of continuing the legacy of increasing long-term shareholder We are clear on our objectives, and have aligned our colleagues value as the “new” Energizer. with them as well. In addition to providing new, innovative products and category solutions to our retail customers and In conjunction with finalizing the spin, our team also completed consumers, we are focused on maximizing free cash flow and the 2013 restructuring project which resulted in more than delivering long-term value to our shareholders. As such, we will $218 million in savings since the inception of the program. pursue a prudent capital allocation policy, including reinvesting in We accumulated these savings through proactively adjusting our the business, returning capital to shareholders, and evaluating manufacturing footprint; streamlining our mergers and acquisitions in the household products space.
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