Corporate OverviewFor additional information contact:

Michael J. MonahanSenior Vice President External Relations Telephone: 651-250-2809 Mike.Monahan@ecolab.com

Andy HedbergDirector Investor Relations Telephone: 651-250-2185 Andrew.Hedberg@ecolab.com

Ecolab Inc.1 Ecolab PlaceSt. Paul, MN 55102www.ecolab.com

mailto:Mike.Monahan@ecolab.commailto:Andrew.Hedberg@ecolab.comhttp://www.ecolab.com/

CAUTIONARY STATEMENTForward-Looking Information: This communication contains forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding our financial and business performance and prospects, including including the impact of the coronavirus outbreak on our sales, operating results and cash flows and investments in technologies, macro trends and long-term potential of our business, new business, innovation, targeted credit rating metrics, dividends, and share repurchase and acquisition activity. These statements are based on the current expectations of management of the Company. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties are set forth in our most recent Form 10-K, Form 10-Q and other public filings with the Securities and Exchange Commission (the “SEC”) and include the vitality of the markets we serve, including the impact of worldwide economic factors such as the worldwide economy, credit markets, interest rates and foreign currency risk; exposure to economic, political and legal risks related to our international operations; the costs and effects of complying with laws and regulations relating to our operations; the occurrence of litigation or claims; and other uncertainties or risks reported from time to time in our reports to the SEC. In light of these risks, uncertainties and factors, the forward-looking events discussed in this communication may not occur. We caution that undue reliance should not be placed on forward-looking statements, which speak only as of the date made. Ecolab does not undertake, and expressly disclaims, any duty to update any forward-lookingstatement except as required by law.

Non-GAAP Financial Information: This communication includes Company information that does not conform to generally accepted accounting principles (GAAP). Management believes that a presentation of this information is meaningful to investors because it provides insight with respect to ongoing operating results of the Company and allows investors to better evaluate the financial results of the Company. These measures should not be viewed as an alternative to GAAP measures of performance. Furthermore, these measures may not be consistent with similar measures provided by other companies. Reconciliations of non-GAAP measures to GAAP results are available in our most recent Form 10-K, Form 10-Q and other of our SEC filings.

Industry and Market Information: Industry and market information, including market data, contained in this communication are based on management’s current estimates of potential opportunities of Ecolab. These estimates have been made in good faith basedon management’s knowledge and, in some cases, upon industry surveys and other publicly available information. You are cautioned not to give undue weight to such estimates, and we have not verified the accuracy or completeness of these estimates and information through independent sources.

2

ECOLAB: UNIQUELY POSITIONEDTO DELIVER WHAT MATTERS MOST

GLOBAL LEADER

WATER FOOD CLIMATEHEALTH

EXPERTISE

WATERSUSTAINABILITY

FOODSAFETY

GLOBAL DEPLOYMENT &

EXECUTION

HYGIENE/ ANTIMICROBIALS

3

CHANGING DEMOGRAPHICS

POPULATION GROWTH

TECHNOLOGY

25% MORE PEOPLE by 2050, with most growth in emerging markets

Growing middle classAging population

Changing customer EXPECTATIONS, increased RISKS, CAPABILITIES & OPPORTUNITIES

$ $$$

$$

CLIMATE CHANGECarbon impactWater scarcity

HOW WE SEE THE WORLD...MACRO TREND DRIVERS4

55

COVID-19 UPDATE®

COVID-19 RESPONSE6

Take care of customers, team and company

Manage with end in mindCapture unique opportunitiesKeep investing in big bets

Goal is to maximize post-COVID position

7

GROWTH

12

4

RESPOND

RETHINK

REIGNITE

Understand the situation

Protect people, customers, company

New programs –Hygiene 2.0

Accelerated growth New business

installs

Initial lockdown Recovery begins

Growth opportunities

Mitigating actions Customer support

programs

3

RETOOL Leverage digital

technology Bring the organization

to the next level

Smarter, better … faster

All protected

ROADMAP TO RECOVERY

4 CLEAR PHASES – UNCERTAIN TIMING

7

8

Restaurants and lodging: Restaurants, hotels, entertainment facilities, etc. traffic continues to improve from April’s lows but remain below year-ago levels as they reflect the gradual and uneven global pace of the reopenings. U.S. full service restaurants now ~90% open and operating at ~55% of prior dining

capacity. U.S. quickservice restaurant traffic declined much less than full service and is now

down ~5% versus year ago levels. Global lodging rooms sold has risen globally from April lows and is now ~65% of prior

year levels. Sanitizing use in these facilities continued significantly above year ago levels and

partially offset traffic-related declines in other cleaning categories.

Sources: NPD/Crest, Smith Travel

US Full Service RestaurantFoot Traffic YoY%

Industry dataUS Quick Service Restaurant

Foot Traffic YoY% Lodging Rooms Sold

-30%

-20%

-10%

0%

10%

Jan Feb Mar Apr May Jun Jul Aug Sep

-100%

-80%

-60%

-40%

-20%

0%

20%

Jan Feb Mar Apr May Jun Jul Aug Sep

US EU China-70%

-60%

-50%

-40%

-30%

-20%

-10%

0%

Jan Feb Mar Apr May Jun Jul Aug Sep

3Q 2020 Environment

9Sources: Federal Reserve, IHS Markit

Industrial segment: Industrial customers are also seeing gradual recovery in operating activity from April lows and partial or full plant closures.

Healthcare and Life Sciences segment: Operations stabilizing as the headwind from delayed elective surgeries continues to ease. Pharma and personal care business remains solid.

Industrial Production

Industry dataManufacturing PMI

30

35

40

45

50

55

60

Jan Feb Mar Apr May Jun Jul Aug Sep

U.S. EU China

-30%

-20%

-10%

0%

10%

Jan Feb Mar Apr May Jun Jul Aug Sep

U.S. EU China

3Q 2020 Environment

POST-COVID ENVIRONMENT

Institutional recovery continues: Foodservice: 2021 2H Lodging: 2022+

Heightened hygiene awareness continues Delivered value a primary focus by customers Fundamental themes continue Solving customer water and energy challenges Food safety Healthcare & Life Sciences

10

OUR FOCUS

Accelerate antimicrobial rollout timetable Accelerate digital investments Enable economic transparency highlighting our advantage Drive continued SG&A efficiency

Continue to drive Industrial, Healthcare & Life Sciences businesses

Drive Institutional hygiene advantage and penetration opportunity via Ecolab Science Certified program

11

1212

ROBUST LONG-TERM OPPORTUNITY

®

Robust Long-Term Opportunity

Ecolab’s long-term opportunities remain strong

While the pandemic will present the world with a very challenging 2020, we expect to emerge stronger: Increased global focus on cleaning and sanitizing Our continuing investment in strategic drivers increases our

technology and people advantages Our strong financial position benefits us versus weaker competitors

13

LEADER IN HIGHLY FRAGMENTED, LARGE AND GROWING MARKET

ECOLAB SALES 2019:

$13 BILLION

Ecolab Competitors

Market data reflects current estimates of potential opportunities

14

020406080

100120140

1995 2000 2005 2010 2015 2020

MARKET OPPORTUNITY GROWTH SINCE 1995$135B

$57B$39B$32B

$18BEcolab

$106B

9%

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

Estimates by categoryMajor Opportunities in Existing Markets

15

$ MILLIONS Ecolab Remaining Opportunity

$0 $5,000 $10,000 $15,000 $20,000

Building Services

Other

Mining

Refining

Food Retail

Ed./Government

Life Sciences

Lodging

Light Industry

Paper

Heavy Industry

Food & Beverage

Health Care

Food Service

Chart1

Building ServicesBuilding Services

OtherOther

MiningMining

RefiningRefining

Food RetailFood Retail

Ed./GovernmentEd./Government

Life SciencesLife Sciences

LodgingLodging

Light IndustryLight Industry

PaperPaper

Heavy IndustryHeavy Industry

Food & BeverageFood & Beverage

Health CareHealth Care

Food ServiceFood Service

100

2300

600

2900

200

3800

1000

3300

500

3800

300

5600

300

5900

1000

6700

700

9900

800

10100

800

12400

2100

15000

1600

17000

2500

18100

Data

Segments2015-16PotentialMarket SizeShare

Building Services100$2,3002,4004%

Other600$2,9003,50017%

Mining200$3,8004,0005%

Refining1,000$3,3004,30023%

Food Retail500$3,8004,30012%

Ed./Government300$5,6005,9005%

Life Sciences300$5,9006,2005%

Lodging1000$6,7007,70013%

Light Industry700$9,90010,6007%

Paper800$10,10010,9007%

Heavy Industry800$12,40013,2006%

Food & Beverage2,100$15,00017,10012%

Health Care1,600$17,00018,6009%

Food Service2,500$18,10020,60012%

Total$12,400$114,500$129,30010%

Total- 0- 0- 0- 0

Sheet3

SAFE, SUSTAINABLE OPERATIONS16

Innovation to help customers meet environmental and social challenges, reflected in our own operations.

RESOURCE EFFICIENCY

ENVIRONMENTAL SAFETY

EMPLOYEE SAFETY

GOVERNANCE OF ENVIRONMENTAL AND

SOCIAL PERFORMANCE

2030 Impact Goals

Restore greater than 50% of water withdrawal

Meet a positive water impact goal of 40% per unit of production

Reduce carbon emissions by 50%

Zero release goal

ISO environmental certification at 60% of facilities

Product and raw material compliance

Board Safety, Health and Environmental Committee

Committed to supporting a diverse, inclusive workforce

UN SDG 5, 6, & 13 commitment

Aligned to UN Global Ambition for 1.5oC limit

RECOGNITION

✓

14th Consecutive Year

Ranked #2 in Chemicals Industry

Corporate Knights Ranked #32

100 Most Sustainable Companies (2019)

Ranked #26

ESG RATINGS

AAAMSCI ESG (5th Consecutive year)

✓ ✓ ✓

Goal Zero

DIVERSIFIED GLOBAL CUSTOMER BASENearly 3 Million Customer Locations

Largest customer

UNSOLD CUSTOMERS

CIRCLE THE CUSTOMER

$49B$73B

$13B

Leading Scale and Global Footprint Enables Us To GrowWith Customers Around The World

18

BUILD SHARE WITH LARGEST PLAYERS

2019 SALES

Focus where the growth is

Leveraging innovation

Circle the Globe

Market share

New technologies and services

Circle the Customer

Growth synergies

Market data reflects current estimates of potential opportunities

Chart1

1st Qtr

2nd Qtr

45

East

12.6

72

Sheet1

1st Qtr2nd Qtr

East12.67245

Labor

Asset ProtectionWater & Energy

Maint./Other

Strong Customer Value PropositionBest results, lowest use cost

Ecolab’s customer value proposition

The best results and consistent improvement in customer satisfaction

Lower total operating costs

Dramatic sustainability story

Specific customer application cost

19

Chart1

Labor

Linen Repl

Utilities

Product

Other

44

25

17

6

8

Sheet1

LaborLinen ReplUtilitiesProductOther

44251768

DIGITAL CAPABILITIES ARE DRIVING INCREASED DIFFERENTIATION

Prep/Drive Time

Customer Time

MOBILE SALES + SERVICE

VIRTUAL SERVICE

REMOTE MONITORING

PREDICTIVE ANALYTICS

Customer Time

Customer Time

20

Innovation: Food ServiceMULTI-USE, NO-RINSE FOOD CONTACT CLEANING AND SANITIZING SOLUTION

Kills the COVID-19 virus in 15 seconds

Concentrated formula for food contact surfaces and 3rd sink sanitization streamlines operations & improves compliance

Kills Norovirus (#1 cause of foodborne illness)

Foodborne pathogen protection E.coli, Staph, Salmonella, Listeria

Visual indication of concentration, “at a glance”

SINK & SURFACE CLEANER SANITIZER

Annual Customer Value100 Unit Chain

Metric Before After Value Created

Labor Cost3 step process

$304,0002 step process

$152,000Labor savings

$152,000

Packaging Waste

Competitor’s 2 product, diluted solution

218,000 lbs

Ecolab’s concentrated solution

1,100 lbs

Reduced packaging waste

216,900 lbs

50% reduction in table turn time and 99% reduction in packaging waste

21

Innovation: Digital Food Safety22

Drives food safety excellence & compliance, while improving labor efficiency

Mobile customer App digitizes food safety tasks and temperature monitoring, improves food safety compliance, saves time and replaces paper logs

Remote monitoring of operational and sanitation compliance; helps predict Health Department inspection audit violations

Dynamic dashboard reporting consolidates food safety audits, pest reports, health department inspections, mobile app logs & sanitation compliance into dashboards & critical metric alerts

Supported by in-unit service and training

Hygiene and Food Safety compliance improves to more

than 90% from less than 50%

Annual Customer Value (1000 Unit Chain)Metric Before After Value CreatedLabor Savings $5,140,000 $2,570,000 $2,570,000

CONNCECTED DISPENSING, CHEMISTRY, MONITORING AND PREDICTIVE ANALYTICS

Innovation: Legionella ProtectionDIGITALLY ENABLED WATER SAFETY PROGRAM: PROTECTING BRAND & CUSTOMERS

23

Enterprise-wide legionella risk mitigation solution

Proactive analytics and digital monitoring – real time monitoring and predictive analytics to treat legionella risk

Risk mitigation – critical part of operator water management compliance system to reduce risk of costly pathogen outbreaks

Reduced remediation costs – proactive treatment reduces brand risk and outbreak remediation costs

Brand Protection

$8 MILLION average revenue loss per outbreak

from business interruption and brand reputation harm

Cost Avoidance

$2.6 MILLION in estimated legionella outbreak litigation cost

avoidance

Improved Risk Management

8xUp to 8x better at

detecting legionella than using traditional methods

Case Study: Helping ADM save 2.3 billion gallons of water

24

Archer Daniels Midland (ADM) worked with Ecolab to develop a sustainable process to drive water management improvements across its global operations.

160 3D TRASAR™ Cooling Water Technology units provided:

Real-time monitoring

Control of cooling systems to optimize water usage. The ability to reduce, reuse and recycle water within ADM plants, increasing water resiliency at the local level.

This has significantly reduced operational costs and helped the company achieve its sustainability goals.

INNOVATION

$28 MILLION ANNUALLYValue Delivered

2.3 billion gallons equivalent to the annual drinking water needs of more than 7.9 million people

159,000MMBTUs saved

70 million pounds of CO2 avoided per year

Improved asset life of utility and process equipment

WATER AIR

ENERGY ASSETS

LAST YEAR, ECOLAB HELPED:

44%Produce

of the global processedmilk supply

Generate20%of the world’spower 58 BILLION

Serve

meals

1 BILLION+Clean

hotel rooms

CleanBILLION

hands40Make

of the world’s processed food safe

36%

Conserve 28 TRILLION

BTUs of energy206 BILLION

Save

gallons of water

Reduce1.5 MILLION metric

Preventmore than

1.2 MILLION foodborne

illnesses

tonnes of greenhouse gas emissions

25

2626

STRONG FINANCIAL POSITION

®

Ecolab: A Cash and Return Machine

$9B Cumulative Cash Returned 2009-2019 Increased cash dividend for

28 consecutive years

Total Returns2009-2019

$5B SHARES REPURCHASED

$4BDIVIDENDS TO SHAREHOLDERS

($ Billions)

$0.3 $0.4 $0.6 $0.9 $1.1

$1.5 $1.9 $2.3 $2.7

$3.2 $3.8

$0.4 $0.7

$1.4 $1.6

$1.9

$2.4

$3.1

$3.9

$4.5

$5.0

$5.3

$0.7 $1.1

$2.0 $2.5

$3.0

$3.8

$5.0

$6.1

$7.2

$8.2

$-

$1.0

$2.0

$3.0

$4.0

$5.0

$6.0

$7.0

$8.0

$9.0

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Common Dividends Paid Shares Repurchased

27

$9.1

28

SUMMARY®

29

ECOLAB SUMMARY

GLOBAL LEADER WITH SMALL SHARE OF $135+B, GROWING MARKET$122+ Billion Remains to be Sold

SERVING FUNDAMENTAL, GLOBAL AND INCREASINGLY COMPLEX LONG-TERM NEEDSWater, Food Safety, Energy, HAI Prevention, Sustainability

POWERFUL, PROVEN STRATEGY TO DRIVE TOP-LINE GROWTHCircle the Customer – Circle the Globe, High Recurring Revenue

MULTIPLE OPPORTUNITIES FOR NEW GROWTHGeographic and Market Expansion, Emerging Businesses, Bolt-on M&A

SIGNIFICANT MARGIN IMPROVEMENT WORK UNDERWAYSimplification, Scale, Leverage, Process Efficiency

SUBSTANTIAL COMPETITIVE ADVANTAGEScale, Global Reach, Product Technology, Corporate Accounts, Sales/Service Force, Field Technology, Brand Name, Data and Actionable Insights

STRONG AND CONSISTENT FINANCIALS, FREE CASH FLOW, RETURNS

Strong Business Model For Consistent, Superior Growth

Market data reflects current estimates of potential opportunities

CorporateOverviewCAUTIONARY STATEMENTECOLAB: UNIQUELY POSITIONED�TO DELIVER WHAT MATTERS MOSTHOW WE SEE THE WORLD...MACRO TREND DRIVERSCOVID-19 UPDATECOVID-19 RESPONSEROADMAP TO RECOVERY 3Q 2020 Environment3Q 2020 EnvironmentPOST-COVID ENVIRONMENTOUR FOCUSROBUST LONG-TERM OPPORTUNITYRobust Long-Term OpportunityLEADER IN HIGHLY FRAGMENTED, LARGE AND GROWING MARKETSlide Number 15SAFE, SUSTAINABLE OPERATIONSDIVERSIFIED GLOBAL CUSTOMER BASELeading Scale and Global Footprint Enables Us To Grow�With Customers Around The WorldStrong Customer Value Proposition�Best results, lowest use costDIGITAL CAPABILITIES ARE DRIVING INCREASED DIFFERENTIATIONSlide Number 21Slide Number 22Slide Number 23Slide Number 24LAST YEAR, ECOLAB HELPED:STRONG FINANCIAL POSITIONEcolab: A Cash and Return Machine�SUMMARYECOLAB SUMMARY