CHURCH & DWIGHT CO., INC. CHURCH & DWIGHT CO., INC. ® Church & Dwight Co., Inc. Princeton South Corporate Center 500 Charles Ewing Boulevard Ewing, NJ 08628 CHURCH & www.churchdwight.com DWIGHT CO., INC. ANNUAL REPORT 2017 ANNUAL REPORT 2017 CHURCH & CHURCH & DWIGHT CO., INC. DWIGHT CO., INC. ANNUAL REPORT ANNUAL REPORT 2017 2017 KEY FINANCIAL CORPORATE HIGHLIGHTS In Millions, except per share data INFORMATION 2016 2017 Investor Information Stockholder Inquiries Dividend Reinvestment Plan Corporate Headquarters Communications concerning stockholder Computershare Trust Company, N.A. reported adjusted* reported adjusted* Church & Dwight Co., Inc. records, stock transfer, changes of owner- administers a dividend reinvestment and Princeton South Corporate Park ship, account consolidations, dividends and stock purchase plan for our Stockholders. NET SALES $ 3,493 $ 3,493 $ 3,776 $ 3,776 500 Charles Ewing Blvd., change of address should be directed to: GROSS PROFIT MARGIN 45.5 % 45.7 %(2) 45.8 % 45.8 % (2) Ewing, New Jersey 08628 For details, contact: INCOME FROM OPERATIONS $ 724 $ 729 $ 732 $ 775 (3) 609.806.1200 Church & Dwight Co., Inc. Dividend Reinvestment Plan Computershare Inc. Church & Dwight Co., Inc. OPERATING PROFIT MARGIN 20.7 % 20.9 % 19.4 % 20.5 % Corporate Website Shareholder Relations Computershare Trust Company, N.A. NET INCOME $ 459 $ 464 (4) $ 743 $ 498 (4) www.churchdwight.com 866.299.4219 250 Royall Street, Canton, MA 02021 866.299.4219 (4) (4) NET INCOME PER SHARE — DILUTED $ 1.75 $ 1.77 $ 2.90 $ 1.94 Independent Registered Shareholder correspondence DIVIDENDS PER SHARE $ 0.71 $ 0.71 $ 0.76 $ 0.76 Public Accounting Firm should be mailed to: The annual meeting of YEAR-END STOCK PRICE $ 44.19 $ 44.19 $ 50.17 $ 50.17 Deloitte & Touche LLP Church & Dwight Co., Inc. stockholders will be held at: 100 Kimball Drive Computershare 12:00 P.M. Thursday, May 3, 2018 Parsippany, NJ 07054 P.O. BOX 30170 Corporate Headquarters College Station, TX 77842-3170 Princeton South Corporate Park On February 5, 2018, the Company declared a 14% increase in its Transfer Agent and Registrar 500 Charles Ewing Blvd., Ewing Computershare Inc. Overnight correspondence New Jersey 08628 quarterly dividend from $0.19 per share to $0.2175 per share. 250 Royall Street, Canton, MA 02021 should be sent to: 609.806.1200 866.299.4219 Church & Dwight Co., Inc. 2017 KEY FINANCIAL RESULTS Computershare New York Stock Exchange Certification Stock Listing 211 Quality Circle, Suite 210 Our Chief Executive Officer has provided • Worldwide net sales increased 8.1%. Church & Dwight Co., Inc. shares are College Station, TX 77845 the required annual certification to the • Organic sales increased 2.7%.(1) listed on the New York Stock Exchange. www.computershare.com/investor New York Stock Exchange. The symbol is CHD. • Adjusted gross profit margin increased 10 basis points to 45.8%.(2) • Adjusted operating profit margin decreased 40 basis points to 20.5%. 10-K Report Stockholders may obtain a copy of the • Net cash from operations was $682 million. Company’s Annual Report on Form 10-K • Adjusted earnings per shared increased 9.6% for the year ended 12/31/17 filed with the Securities and Exchange Commission by writing to the Secretary at Corporate Headquarters. Cautionary Note On Forward-Looking Information: This Annual Report contains forward-looking statements which are based on current assumptions that are subject to risks and uncertainties that may cause actual results to differ materially from the forward-looking statements, including the risks and uncertainties discussed on pages 11-24 of this Annual Report. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. ®Church & Dwight Co., Inc. 2018 For additional information, see Management’s Discussion and Analysis of Financial Condition and Results of Operations included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. * This annual report includes non-GAAP financial measures, including adjusted income from operations, adjusted operating profit margin, adjusted net income, adjusted EPS, organic sales, and free cash flow, which differ from reported results using Generally Accepted Accounting Principles (GAAP). Refer to the reconciliations to the most directly comparable financial measures calculated in accordance with GAAP on page 6 of this annual report. (1) The reference to 2.7% organic net sales growth in 2017 reflects the following adjustments to the 8.1% reported on net sales growth: divestitures 0.6% offset by acquisitions (6.0%). (2) Adjusted gross margin in 2017 excludes a $1.3 million (pre and post-tax) plant impairment charge at the Company’s Brazilian subsidiary, 2016 excludes the impact of a plant impairment charge of $4.9 million (pre and post-tax) at the Company’s Brazilian subsidiary. (3) Adjusted income from Operations in 2017 excludes a $3.5 million (pre and post-tax) charge related to the sale of the Company’s Brazilian chemical business and a $39.2 million ($31.5 million post tax) charge related to the settlement of a foriegn pension plan, 2016 excludes an $4.9 million plant impairment charge at the Company’s Brazilian subsidiary. (4) Adjusted Net Income and adjusted EPS in 2017 excludes a ($0.12 per share) charge associated with the settlement of a foreign pension plan, a ($0.01 per share) charge associated with the sale of the Company’s chemical business in Brazil, a tax benefit of $0.03 per share from a prior year joint venture impairment charge and a one time tax benefit (non-cash) of $1.06 per share to adjust deferred tax accounts and reflect deemed repatriation of foreign subsidiary earnings as a result of the Tax Cuts and Jobs Act (TCJA), 2016 excludes the plant impairment charge at the Company’s Brazilian subsidiary ($4.9 million or $0.02 per share), 2015 excludes the after tax impact of the pension charge ($6.7 million or $0.03 per share) and the Natronx impairment charge ($17 million or $0.06 per share). CHURCH & DWIGHT CO., INC. ANNUAL REPORT 2017 CORPORATE INFORMATION Church & Dwight., Inc., founded in 1846, is the leading U.S. About 40% of the Company’s domestic consumer products are producer of sodium bicarbonate, popularly known as baking soda, sold under the ARM & HAMMER brand name and derivative a natural product that cleans, deodorizes, leavens and buffers. The trademarks, such as ARM & HAMMER liquid and powder laundry Company’s ARM & HAMMER brand is one of the nation’s most trusted detergent, ARM & HAMMER cat litter, ARM & HAMMER dental care trademarks for a broad range of consumer and specialty products and ARM & HAMMER baking soda. The remaining ten power brands developed from the base of bicarbonate and related technologies. have been added to the Company’s portfolio since 2001 through acquisitions. Church & Dwight’s consumer products business is organized into two segments: Consumer Domestic, which encompasses both The combination of the core ARM & HAMMER brand and the other ten household and personal care products, and Consumer International, power brands make Church & Dwight one of the leading consumer which primarily consists of personal care products. The Company has packaged goods companies in the United States. Church & Dwight’s eleven key brands representing approximately 80% of its consumer third business segment is Specialty Products. This business is a leader sales. These “power brands” include ARM & HAMMER, TROJAN, in specialty inorganic chemicals, animal nutrition, and specialty OXICLEAN, SPINBRUSH, FIRST RESPONSE, NAIR, ORAJEL, XTRA, cleaners. VMS (L’IL CRITTERS and VITAFUSION), BATISTE and WATERPIK. GROWTH DRIVEN BY 11 POWER BRANDS ® ARM & HAMMER OXICLEAN FIRST RESPONSE ORAJEL XTRA More aisles in the grocery store than any #1 Laundry #1 Branded #1 Oral Care #1 Extreme Value other brand; A&H products are in 86% of Additive Brand Pregnancy Kit Pain Relief Brand Laundry Detergent U.S. households in America TROJAN SPINBRUSH NAIR BATISTE L’IL CRITTERS & WATERPIK #1 Condom Brand #1 Battery Powered #1 Depilatory Brand #1 Dry Shampoo VITAFUSION #1 Power Flosser Toothbrush Brand #1 Gummy Brands and #1 Replacement for Kids and Adults Showerhead Based on U.S. AC Nielsen 52 weeks ending 12/19/17 All-Outlet PAGE / 1 / CHURCH & DWIGHT CO., INC. ANNUAL REPORT 2017 STOCKHOLDER LETTER Matthew T. Farrell Richard A. Dierker Patrick D. de Maynadier, Esq. President and Executive Vice President & Executive Vice President, Chief Executive Officer Chief Financial Officer General Counsel & Secretary DEAR FELLOW STOCKHOLDER, I am pleased to report another successful year of revenue and earnings growth in 2017:1 • Reported net sales were $3,776 million, an 8.1% increase. • Organic sales increased 2.7% driven by 1.4% revenue growth in our Consumer Domestic business, 7.8% revenue growth in our Consumer International business and 5.3% growth in our Specialty Products business. • Adjusted gross margin increased 10 basis points to 45.8%, due to productivity programs and the impact of higher margin acquired businesses. • Adjusted EPS was $1.94 per share, a 9.6% increase. • We generated $682 million of cash from operating activities and invested $45 million in capital expenditures resulting in free cash flow of $637 million. These results positively impacted the measure that matters most to you—Total Shareholder Return (TSR)—which reflects the combination of stock price appreciation and dividends. We manage Church & Dwight with the goal of delivering strong TSR to you and will continue to focus on this goal in 2018 and beyond. 1 The following discussion of the Company’s results includes non-GAAP financial measures, including organic sales, adjusted gross margin, adjusted EPS, free cash flow, and free cash flow conversion, which differ from reported results using Generally Accepted Accounting Principles (GAAP), and exclude [impairment charges, currency fluctuations and certain other items in 2016 and 2017].