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Growth, Value and StabilityGrowth, Value and Stabilityin a Challenging Environmentin a Challenging Environment

Presentation byFrank C. Sullivan, President and Chief Executive Officer

October 2, 2008

10-02-08

Forward-Looking StatementsThis presentation contains “Forward-Looking Statements” as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from expectations and are subject to certain risks and uncertainties such as those described in RPM’s periodic reports and statements filed with the Securities and Exchange Commission andavailable through the company’s website, www.rpminc.com. The company does not intend to update any forward-looking statements made in this presentation.

Regulation GThis presentation includes certain company data that do not directly conform to generally accepted accounting principles, or GAAP, and certain company data that has been restated for improved clarity, understanding and comparability, or pro forma. All non-GAAP data in this presentation are indicated by footnote. Tables reconciling such data with GAAP measures are available through our website, www.rpminc.com under InvestorInformation/Presentations.

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RPM Overview

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$3.8 billion globally diversified manufacturer of specialty coatings, sealants and building materials

Leading brands serving consumer and industrial marketsBalanced growth strategy built on solid organic growth and an industry-leading acquisition program

Consistent and strong financial performance across all economic cycles

61 years of profitable growth and strong cash flow34 consecutive years of cash dividend increases

Historically low valuation at 11x EPS and a 4% dividend yield

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FY 2008 Financial ResultsFY 2008 Financial Results

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Consolidated Statements of Income(as reported)

($ in thousands, except per share and percent data) Fiscal Year Ended May 31,

2008 % 2007 % % Chg.Net Sales $ 3,643,791 $ 3,338,764 9.1Cost of Sales 2,145,254 58.9 1,978,312 59.2Gross Profit 1,498,537 41.1 1,360,452 40.8SG&A 1,124,419 30.8 1,020,884 30.6Asbestos Charges 288,100 7.9 (15,000) (0.4)EBIT* 86,018 2.4 354,568 10.6 (75.7)Interest Expense, Net 46,964 1.3 47,033 1.4Income Before Taxes 39,054 1.1 307,535 9.2Tax Provision (8,655) (0.2) 99,246 3.0Net Income $ 47,709 1.3 $208,289 6.2 (77.1)

Diluted EPS $0.39 $1.64 (76.2)

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*Non-GAAP measure

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Consolidated Statements of Income(adjusted, excluding asbestos-related items)

($ in thousands, except per share and percent data) Fiscal Year Ended May 31,

2008(1) % 2007(2) % % Chg.Net Sales $ 3,643,791 $ 3,338,764 9.1Cost of Sales 2,145,254 58.9 1,978,312 59.2Gross Profit 1,498,537 41.1 1,360,452 40.8SG&A 1,124,419 30.8 1,020,884 30.6EBIT* 374,118 10.3 339,568 10.2 10.2Interest Expense, Net 46,964 1.3 47,033 1.4Income Before Taxes 327,154 9.0 292,535 8.8Tax Provision 94,393 2.6 93,961 2.8Net Income $ 232,761 6.4 $ 198,574 6.0 17.2

Diluted EPS $1.81 $1.57 15.3

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*Non-GAAP measure

(1) The fiscal year ended May 31, 2008 excludes the $288.1 million pre-tax asbestos charge made May 31, 2008(2) Fiscal 2007 excludes $15.0 million pre-tax in asbestos-related insurance receipts received November 2006

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Segment Statements of Income.

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*Non-GAAP measure

($ in thousands, except per share and percent data) Fiscal Year Ended May 31,

Industrial Segment 2008 % 2007 % % Chg.Net Sales $ 2,365,496 $ 2,100,386 12.6Cost of Sales 1,366,433 57.8 1,215,245 57.9Gross Profit 999,063 42.2 885,141 42.1SG&A 737,406 31.1 650,084 30.9EBIT* $ 261,657 11.1 $ 235,057 11.2 11.3

($ in thousands, except per share and percent data) Fiscal Year Ended May 31,

Consumer Segment 2008 % 2007 % % Chg.Net Sales $ 1,278,295 $ 1,238,378 3.2Cost of Sales 778,611 60.9 763,036 61.6Gross Profit 499,684 39.1 475,342 38.4SG&A 338,472 26.5 320,951 25.9EBIT* $ 161,212 12.6 $ 154,391 12.5 4.4

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($ in millions)

Balanced to Grow in All Economic Environments

Sales CAGR (Past 25 Years) = 13.8%

Recession Slow GDP Growth (<2.5%)Source: Bureau of Economic Analysis

$0

$400

$800

$1,200

$1,600

$2,000

$2,400

$2,800

$3,200

$3,600

1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008

RPM Sales

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Strategic OverviewStrategic Overview

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Competitive Advantage of Unique Entrepreneurial Operating Philosophy

$3.6 BillionConsumer Segment Industrial Segment

CustomDAP

PhenosealPlastic Wood

FlectoMartin Mathys

Modern MastersOkonParks

Rust-Oleum CBGRust-Oleum IBG

Rust-Oleum EuropeTestor

TorWatcoZinsser

CCIChemspecDay-Glo

DryvitKop-Coat

Mantrose HaeuserRadiant ColorRPM/Belgium

TCIVandex

WestfieldWood Finishes

BoralCompact Tech.Euclid Chemical

illbruckIncrete

Productos CaveProsytecTremco

Tremco EuropeTremco RoofingTremco Sealants

Tremco Barrier Solutions

A/D FireCarboline/Plasite

EcolocF&H MarineFibergrateFlowcrete

Star MalingStonCor Europe

Stonhard

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Competitive Advantage of Leading Brands

$3.6 BillionConsumer Segment Industrial Segment

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Polymer flooring systems

Leading Brands in Huge, Fragmented Leading Brands in Huge, Fragmented IndustrialIndustrial MarketsMarkets

Roofing systems and sealants

Corrosion control coatings

Competitive Advantage of Leading Brands

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Fluorescent pigments and dyes

Leading Shares in Specialty Niche Leading Shares in Specialty Niche IndustrialIndustrial MarketsMarkets

Exterior insulation and finish systems (EIFS)

Pleasure marine coatings

Competitive Advantage of Leading Brands

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Small project paints & coatings

The Leading Brands in North American The Leading Brands in North American ConsumerConsumer MarketsMarkets

Primer-sealers Caulks & sealants

Competitive Advantage of Leading Brands

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Deliberate Balance to Markets and Growth

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Consumer markets + Industrial markets +Internal growth + Acquisition growth +

Expanding in global markets =

Consistent growth and industryleading performance

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Balance Between Consumer & Industrial Markets

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$ in thousands

Sal

es

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Balance Between Internal and Acquisition Growth

Organic Revenue GrowthAcquisition Growth, Net of Divestitures

(Fiscal year ended May 31)

6.5%

13.2%

2.0%

4.0%

2.5%

11.6%

1.9%0.4%

0.9%

2.0%-

3.9%

1.0% 9.1%

3.3%

9.5%

1.2%

10.8%

6.9%

6.7%

4.3%

6.9%

2.2%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

1998 1999 2000* 2001* 2002 2003 2004 2005 2006 2007 2008

(1) Through December 31, 2007

TotalOrganicM&AGDP

9.5%5.5%4.0%3.0%

CAGR (1998-2008)

(1)

* Restructuring years

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Balanced to GrowNew Product Growth

Increte Decorative Concrete Company New high-growth concrete category for Euclid Chemical

Nu-Chem Intumescent Coatings New epoxy intumescent fireproofing product line rounding out Carboline’s fireproofing offerings

DAP 3.0 New Kwik Dry Technology “Is All You Need to Know”

Rust-Oleum Universal“The Best Paint in the Universe”High-end category innovation

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Balanced to GrowGeographic Expansion

Filling out Western Europe and expanding

south and eastProsytec acquisition

Russia, Slovakia, Austria, Hungary,

Middle East, Ukraine

Expanding in Europe, Asia and South AfricaFlowcrete acquisition

(polymer flooring)Star Maling acquisition

(corrosion control and marine coatings)

European coatings expansion

Watco acquisitionTor acquisition

India expansion with Kemrock Industries

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Expanding in Global Markets

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$ in thousands

Sal

es

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2008 Global SalesGlobal Growth Opportunities

$77621%

$782% $59

2%

$2,69174%

FY 2008 Sales by Region (in millions)Total Sales - $3.6 billion

NORTH AMERICA

SOUTH AMERICA

AFRICA/MIDDLE EAST

AUSTRALIA/NEW ZEALAND

EUROPE

ASIA

Plant Locations

$401%

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Unique entrepreneurial operating philosophy

Competitive advantage of leading brands

Deliberate balance between consumer and industrial markets, internal and acquisition growth and a growing geographic presence

Execution

Strategic Differentiation

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FY 2009 OutlookFY 2009 Outlook

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Balanced to GrowExpected 2009 Market Dynamics

• Continuing expansion in global industrial markets – oil & gas, offshore, power generation impacting Carboline, Stonhard, Fibergrate

• Continuing U.S. consumer market challenges partly offset by maintenance & repair product characteristics, new product success, energy efficiency products and market share gains – impacting Rust-Oleum, DAP, Zinsser

• U.S. commercial new construction – possible slowing of growth – shift to renovation opportunities and energy efficiency needs

• Raw material cost increases driving product price increases across all product lines

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Balanced to GrowFY2009 Outlook

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• Consumer segment sales flat – mostly price driven

• Industrial segment sales growth 6% to 8% – 50/50 units to price – mix sensitive

• Raw material cost driven margin pressure minimizing bottom line leverage

• Consolidated sales and earnings growth up 5% to 6% from one-time tax benefit adjusted 2008 base of $1.75

• Guidance: 2009 EPS up $.04 to $1.85 per share from 2008 reported $1.81 per share

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Financial Condition and LiquidityFinancial Condition and Liquidity

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Driving Operating Cash Flow.

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*Preliminary unaudited results**Non-GAAP measure

Fiscal Year Ended May 31,

($ in millions) 2008* % Growth 2007

Cash Flow from Operations $ 235 16% $ 202

Capital Expenditures (72) (70)

Free Cash Flow** $ 163 24% $ 132

Dividends $ 91 $ 82

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*These figures exclude the May 2008 asbestos charge. 5/31/08 balance sheet items are shown pro forma for the July 2008 conversion to equity of RPM’s $150 million convertible bonds due 2023.1

Significant balance sheet/capital structure/liquidity progress despite $587 million of debt funded acquisitions and $886 million of pre-tax asbestos charges through the RPM Income Statement, driving anegative impact on net worth of approximately $576 million.

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Sales $1,985.0 $3,643.8Net Income $63.0 *$232.8Book Net Worth $639.7 $1,286.8Total Debt $963.0 $923.4Liquidity $97.0 $626.3Debt/Cap 60.1% 41.8%Interest Coverage 3.6x *7.6xDividend Payout 80.4% *38.9%Working Capital/Sales 26.7% 24.2%Return on Invested Capital 7.8% *13.3%Return on Equity 9.7% *18.3%

($ in millions) 5/31/01 *5/31/08

Balanced to GrowProgress Since 2001

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3434thth Consecutive Year of Cash Dividend IncreasesConsecutive Year of Cash Dividend IncreasesTop 1% of U.S. CompaniesTop 1% of U.S. Companies

$0.00

$0.05

$0.10

$0.15

$0.20

$0.25

$0.30

$0.35

$0.40

$0.45

$0.50

$0.55

$0.60

$0.65

$0.70

'75 '76 '77 '78 '79 '80 '81 '82 '83 '84 '85 '86 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07

10/04/07:+8.6%

Today5

1520

4%6%

11%20%

Power of Compounding Rewards Long-term Stockholders

Approx. Yield onOriginal Investment

Years Held

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Growth, Value and Stability in a Challenging EnvironmentGrowth, Value and Stability in a Challenging EnvironmentBalanced to Grow

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“Hire the best people you can find. Create an atmosphere that will keep them. Then let them do their jobs.”

Frank C. Sullivan, 1947

168The Value of

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