WD-40 Company Investor Relations Material

WD-40 Company is an American company with global operations that is best known for its flagship product, WD-40, a versatile lubricant and rust-preventative spray. The product's formulation, originally designed to protect missile parts from corrosion, quickly gained popularity for a wide range of household and industrial applications. Today, the company has a wide product portfolio, which includes a variety of lubricants, cleaners, and rust-removal products, catering to both professional and do-it-yourself markets. It is headquartered in San Diego, California, and its shares are listed on the Nasdaq.

WD-40 was developed by the Rocket Chemical Company, which was founded in 1953 in San Diego, California. The company set out to create a line of rust-prevention solvents and degreasers for the aerospace industry. The name "WD-40" stands for "Water Displacement, 40th Formula,", and the product was originally designed to protect the outer skin of the Atlas missile from rust and corrosion.

WD-40's transition from industrial use to household name began when employees, recognizing its potential, began sneaking cans out of the plant to use at home. The product's popularity grew through word-of-mouth, leading to its first commercial release in 1958. The decision to package WD-40 in aerosol cans significantly contributed to its accessibility and popularity among consumers.

WD-40 has found a wide range of applications beyond its initial purpose. Its effectiveness in displacing moisture has made it useful in various scenarios within everything from industrial maintenance to household tasks. One common application of WD-40 is for loosening parts that have become rusted or stuck. This characteristic is particularly valued in fields such as mechanics and home repair, where rusted bolts and nuts oftentimes become a lot more manageable after applying WD-40. The product is also employed as a cleaning agent for removing grease, grime, and other substances from different surfaces. For many consumers, WD-40 is an indispensable product to have at home as its uses range from eliminating squeaks in hinges to maintaining tools and much more.

The WD-40 Company has significantly expanded its portfolio beyond its iconic WD-40 multi-use product, developing and acquiring a variety of brands and products to meet a wide range of maintenance, repair, and cleaning needs. Within this broader product offering, the company has introduced specialized formulations aimed at meeting specific requirements. This includes a series of high-performance lubricants and maintenance products designed for precise applications in industrial settings, as well as for everyday household and DIY tasks. Some companies that compete with WD-40 in the space are 3M and Henkel.