RPM International (RPM) investor relations material

MAP 2030 targets and outlook

• FY30 targets: $10B revenue, $2B adjusted EBITDA, 20% EBITDA margin and $30B market capitalization; the margin target is 440 bps above FY26’s 15.6%.

• MAP 2030 targets 6.2% sales CAGR, with volume, price and M&A each contributing ~2%; FY27 assumptions include 2% volume growth and 2%-3% pricing.

• Volume growth is expected to improve toward the historical 3%-4% range after FY27; retained pricing as raw-material costs ease is expected to support margin recovery.

• FY30 revenue target rises from FY26’s $7.863B to $10B; gross profit target is $4.3B versus $3.258B, and gross margin target is 43.0% versus 41.4%.

• Working capital target is 20.0% of sales by FY30, compared with FY26’s 23.7%.

Growth priorities

• Total addressable market exceeds $500B; the $80B serviceable obtainable market represented 10% of FY26 sales of $7.9B.

• Organic growth is expected at 3%-4% after FY27, driven by share gains, new products and product-line acquisitions; priorities include technical sales, system selling, R&D and product launches.

• Developing markets delivered mid-teens organic growth in recent years, including 23% most recently, while EBIT margins rose from single to double digits; international expansion combines centralized functions with local decisions.

• Europe is expected to remain a tough market with limited growth over the next 1-2 years; MAP initiatives target profitability, while European acquisitions add technology and product platforms for global use.

• Lower M&A multiples and larger targets may support more deals; portfolio actions include divestitures and rationalization of $200M-$300M in revenue over MAP 2030.

Profitability and efficiency

• MAP 2025 delivered record sales, adjusted EBIT and adjusted EPS each year; gross margin improved 510 bps and adjusted EBIT margin 260 bps. Adjusted EBITDA margin rose from 12.8% in FY22 to 15.6% in FY26.

• MAP 2030 identifies $400M of FY27-FY30 EBITDA benefits: $115M manufacturing, $112M procurement, $125M SG&A and $48M commercial excellence.

• SG&A is a formal workstream with $125M in targeted savings, about half already in the pipeline; standardization and automation aim to grow SG&A slower than sales.

• Efficiency priorities include manufacturing waste reduction, maintenance standards, distribution streamlining, procurement, acquisition integration and process-led SG&A productivity; 620 Green Belt trainees yearly support a $25M+ pipeline.

• MAP 2030 shifts from further plant closures toward improving existing facilities, standardizing processes and simplifying technology; working capital improved 380 bps from FY22 to FY26.