RPM International Inc. (RPM, NYSE)
Industry: Basic Materials / Specialty Chemicals
Annual report, fiscal year 2021


## FINISHING
THE PROJECT

## 2021 SUMMARY ANNUAL REPORT
A SUCCESSFUL MAP TO GROWTH

## RPM

BUILDING A BETTER WORLD



RPM International Inc. is a $6.1-billion, multinational company with subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services.

NET SALES
$6.1
BILLION

NET INCOME
Attributable to
RPM International Inc.
Stockholders

$503 MILLION

DILUTED EARNINGS
$3.87
PER SHARE

CONTENTS
01 Message from the Chairman & CEO
02 MAP to Growth
06 Tribute to Thomas C. Sullivan
07 Thomas S. Gross Retirement
08 4-Segment Structure
09 Proven Platform for Sustainable Growth
10 Product Innovations
12 Strategic Acquisitions
14 Connections Creating Value
16 Operational Excellence
18 Geographic Expansion
20 Building a Better World
21 Delivering Value to Shareholders
22 Financial Highlights
24 Shareholder Information
25 Directors & Officers

STOCKHOLDERS
824 Institutions (80% of total shares)
194,030 Individuals (20% of total shares)

RPM
LISTED
NYSE
STOCK LISTING
NYSE (Symbol: RPM)

<table><tr><td>Founded</td><td>1947</td></tr><tr><td>Corporate Headquarters</td><td>Medina, Ohio</td></tr><tr><td>Operating Groups</td><td>4</td></tr><tr><td>Employees Worldwide</td><td>15,500</td></tr><tr><td>Manufacturing Facilities</td><td>122</td></tr><tr><td>Consecutive Years of Increased Dividends (Learn more on page 21)</td><td>47</td></tr></table>

## REVENUE BY REGION

75% – North America
$4.6 billion

17% – Europe
$1.1 billion

4% – South America
$219 million

3% – Asia/Pacific
$154 million

1% – Africa/Middle East
$69 million




Watch our CEO's video message: 2021ar.rpminc.com/Shareholder-Letter

Frank C. Sullivan with his father, mentor and former chairman and CEO of RPM, Thomas C. Sullivan, who passed away on November 30, 2020.

A MESSAGE FROM THE CHAIRMAN & CEO

To the Shareholders, Associates and Customers of RPM:

As I reflect on the last year, I do so with an immense feeling of gratitude. Despite the personal and professional challenges unleashed by an unprecedented global pandemic, our associates showed a level of resilience, determination and leadership that was, in a word, astounding.

While the total impact of Covid-19 may never be fully measured, I do know that it affected RPM in myriad ways. Despite implementing stringent health and safety protocols, more than 1,600 RPM associates around the world contracted the virus over the past 15 months. This led to more than 15,000 lost associate days for recovery and quarantine and over 1,000 days of manufacturing and distribution facility closures due to quarantine and disinfecting protocols. This impact is multiplied when considering the repercussions the pandemic had on our supply chain and customers.

While we can assign some metrics to the impact the pandemic had on our company, it is impossible to calculate the personal toll this past year had on so many of our associates. Sadly, we lost more than a dozen individuals to the virus and know that the burden it placed on family and friends across the globe is immeasurable. Despite these hardships, our associates performed in a combined effort that can only be described as heroic.

Because of this dedication, we saw an extraordinary year of performance and also experienced firsthand how the trust that has been built over decades between our companies, customers and suppliers paved the way for goodwill efforts that allowed us all to tackle the challenges we faced together.

## A Successful Conclusion to MAP to Growth

As of May 31, we successfully concluded our MAP to Growth operating improvement program, which we initiated in 2018. At its onset, we had achieved decades of success under our decentralized business model and, over this time, RPM grew in size, scale and complexity. We recognized that the company had reached the point where a center-led approach in select areas of the business was required to get it to the next level of growth.

The primary elements of the MAP to Growth program were to increase the efficiency of our operations – particularly in the areas of manufacturing, procurement and administration – and to streamline our operating structure and leadership, all while maintaining our successful entrepreneurial growth culture. The plan focused on scale in order to unlock more resources to better serve our customers, while creating greater value for our shareholders.

Our manufacturing facilities had historically been managed by our individual operating companies. Through the MAP to Growth program, we looked at these fixed assets from a more holistic view. In the process, we formed a center-led manufacturing and continuous improvement team that has created a lasting culture of manufacturing excellence and continuous improvement disciplines across the organization. This team launched our MS-168 manufacturing system, which is allowing us to produce better products more quickly, cost effectively and sustainably. Additionally, we reduced our global manufacturing footprint by 28 facilities and consolidated production at more strategically advantageous plants.



MAP
TO
GROWTH

STRATEGIC
PRIORITIES

Focus purchasing
Optimize manufacturing and warehousing
Increase operational efficiency

INCREASE OPERATIONAL EFFICIENCY

WHAT WE ACCOMPLISHED

Through implementation of its MAP to Growth initiative, RPM focused on scale in order to unlock more resources and drive greater efficiencies across the enterprise.

PURPOSE: To position RPM for sustained, profitable growth, thereby creating superior value for its customers, entrepreneurs, associates and shareholders.

VISION: To transform RPM into a more connected and efficient company focused on operational excellence and continuous improvement, while maintaining the strengths of its entrepreneurial growth culture.



ORGANIZE TO EXECUTE

WAVES PLAN
Annualized Run Rate
$ in millions

Cost Savings Target
Exceeded by $30 Million

WAVE 2
6/2019 - 5/2020

GROWTH + EFFICIENCY

Throughout RPM's history, the company has been exceptional at growing top-line sales. Now, as a result of the MAP to Growth program, the business is much more operationally efficient as well. This is a very powerful combination that makes RPM even more formidable in terms of its ability to compete and win in the markets it serves. The company is well positioned for decades of growth and success.

WAVE 1
9/2018 - 5/2019

INITIAL TARGET ACTUAL INITIAL TARGET ACTUAL INITIAL TARGET ACTUAL



With stronger supplier partnerships and longer-term contracts, we are much better positioned to secure necessary raw materials and control costs through the current supply chain challenges.

We also created a center-led procurement team that has consolidated material purchasing across our operating companies and negotiated improved payment terms with our supplier base that helped us reduce working capital. These initiatives have created millions in cost savings. With stronger supplier partnerships and longer-term contracts, we are much better positioned to secure necessary raw materials and control costs through the current supply chain challenges.

Additionally, we took significant steps to streamline many of our administrative functions. Through our financial re-alignment, we consolidated 46 accounting locations, improved controls, developed more effective and efficient accounting processes, and reduced costs. Similar initiatives were undertaken in information technology. We have migrated 75% of our organization to one of four group-level ERP platforms, reduced the number of data centers we managed by moving more systems and hardware to the cloud, and created platforms for centralized, data-driven decision making.

As a result of these actions, I’m proud to share that we exceeded our original goal by $30 million, generating annualized cost savings of $320 million.

Aside from a significantly improved profit margin profile and stronger cash generation, as reflected in the industry-leading cumulative total return generated by RPM over the last three years, the lasting legacy of our MAP to Growth program is the operational disciplines we developed that will continue to generate improvements in profitability, cash flow and return on investment metrics. Perhaps more significant was our ability to maintain our unique entrepreneurial, growth-oriented culture—evidenced by the fact that our revenues continued to grow at or above our industry averages throughout the MAP to Growth program.

I attribute the success of our MAP to Growth initiatives to all of our associates worldwide, but in particular to the frontline workers who kept our manufacturing and distribution centers operating during the pandemic. We also owe a debt of gratitude to my good friend and one of RPM’s great operating leaders, Steve Knoop, who was

THREE-YEAR CUMULATIVE TOTAL RETURN
Among RPM International Inc., the S&P 500 Index and two Customized Peer Groups



See footnotes and additional data on page 21.

the architect of the MAP to Growth program and passed away prematurely in 2019. I would also like to recognize Mike Sullivan, vice president of operations and chief restructuring officer, Tim Kinser, vice president of operations–procurement, and Gordy Hyde, vice president of operations–manufacturing, who successfully executed the program with an intense focus and tremendous leadership that were integral to delivering strong results and instilling a permanent focus on operating efficiency and continuous improvement into our culture.

While we have reached the MAP to Growth’s conclusion, there’s still more work to be done. Our next step is to leverage the lessons learned from the program to chart a course for 2025. RPM has always been exceptional at growing the top line. Now, thanks to MAP to Growth, we are a much more efficient business as well. This is a powerful combination that has us well-positioned for another decade of growth and success.




DAP employees in Dallas, Texas, celebrate winning the MS-168 Plant Award, earned for significant efficiency gains and cost savings.

## Exceptional Financial Results Achieved During a Challenging Year

RPM maintains a deliberate strategic balance between our consumer and industrial businesses. This balance serves RPM and its shareholders well, particularly during challenging economic times when weakness in one segment will be offset by strength in the others. The benefits of our operating structure were particularly evident this fiscal year. While our Consumer Group led RPM's sales and earnings growth through much of the pandemic, it was our other three segments that led the way during the fourth quarter.

Despite the innumerable and unprecedented challenges presented by a global pandemic, we saw strong results for fiscal 2021. Net sales were $6.11 billion, an increase of 10.9% compared to $5.51 billion during fiscal 2020. Organic sales increased 8.1%, while acquisitions added 1.8%. Foreign currency translation increased sales by 1.0%. Net income was $502.6 million, an increase of 65.1% compared to $304.4 million in fiscal 2020. Diluted earnings per share (EPS) increased 65.4% to $3.87 versus $2.34 a year ago. Income before taxes (IBT) was $668.4 million compared to $407.8 million reported in fiscal 2020. Earnings before interest and taxes (EBIT) was $709.4 million, an increase of 42.2% versus the $499.0 million reported last year.



Fiscal 2021 and 2020 included restructuring charges and other items that are not indicative of ongoing operations of $75.2 million and $121.3 million, respectively. Excluding those items in both years, RPM's adjusted EBIT was up 26.5% to $784.6 million compared to adjusted EBIT of $620.3 million last year. Investment returns resulted in a net after-tax gain of $31.2 million during fiscal 2021 and a net after-tax gain of $1.1 million last year. Excluding the restructuring and other items, as well as investment gains and losses, adjusted diluted EPS for fiscal 2021 increased 35.5% to $4.16 compared to $3.07 in fiscal 2020.
Our businesses remained focused on growth and continued to develop new, innovative solutions for our customers. We added five new businesses to the RPM family over the course of fiscal 2021 and at the start of fiscal 2022. You can learn more about these market-leading brands on page 12. Our companies also continued to develop new solutions to meet customer demands. You can read more about some of our innovative new products on page 10.

## Cash Flow a Record, Financial Position Strong

Our cash from operations increased 40% over last year’s record, primarily due to good working capital management and margin improvement initiatives. Cash from operations was $766.2 million compared to $549.9 million during fiscal 2020. Because of our strong cash flow, we reinstated our stock buyback program and were able to complete multiple acquisitions, while reinvesting in the growth of our businesses. All working capital metrics improved during the year. Capital expenditures during fiscal 2021 were $157.2 million compared to $147.8 million in fiscal 2020. Total debt at the end of fiscal 2021 was $2.38 billion compared to $2.54 billion a year ago. RPM’s total liquidity at May 31, 2021, including cash and committed revolving credit facilities, was $1.46 billion.



See footnotes and additional data on pages 22-23.




## Generating Value for Our Shareholders

In October, our board of directors increased our cash dividend by 5.6% to $1.52 on an annualized basis. This was the 47 \( ^{th} \)  consecutive year we have increased our dividend to shareholders—a record only a handful of other publicly traded companies can match. Increasing our dividend each year is one way we reward our long-term shareholders. The benefit of this practice is reflected in our total shareholder return, made up of share price appreciation and reinvested dividends, which has outpaced the S&P 500 by 33% over the past 10 years (see page 21).

## Building a Better World

Last August, we released our first environmental, social and governance (ESG) report highlighting RPM’s safe, ethical and sustainable business practices, which result in value creation for our key stakeholders. The report discusses RPM’s approach to addressing a broad range of ESG matters, including our code of conduct; governance practices; talent development and associate benefits; commitment to human rights, diversity and inclusion; health and safety culture; philanthropic and community involvement; and sustainable products and processes.

Since releasing our first report, we have continued to evaluate the significance of RPM’s economic, environmental and social impacts; created an ESG webpage to highlight our approach to important matters; and formed an ESG Oversight Committee that reports to our Corporate Governance & Nominating Committee of the Board of Directors to oversee and manage our sustainability efforts going forward. Over the next year, we plan to focus on developing our disclosures around the topics that matter most to the business and our stakeholders. These disclosures will include concrete examples and relevant metrics that demonstrate our track record of taking care of the environment, our associates, customers and communities, which is how we create stockholder value and leave a legacy we can all celebrate.

For more information on how RPM is addressing ESG matters, turn to page 20, or download our ESG report at www.rpminc.com/esg.

I attribute the success of our MAP to Growth initiatives to all of our associates worldwide, but in particular to the frontline workers who kept our manufacturing and distribution centers operating during the pandemic.

## Fiscal 2022 Outlook

Notwithstanding the extraordinary challenges we faced over the last year and a half, the operating environment has become more complicated. We are experiencing unprecedented supply chain and raw material challenges.

We started seeing a rise in raw material prices at the end of the last calendar year, then we were hit with the huge shock of Winter Storm Uri and its resulting impact on the United States’ primary chemical production in Texas and the Gulf Coast. This trend has unfortunately continued in recent months as certain raw materials spiked by a factor of 200% to 300%.

While many of these spikes have abated, underlying raw material costs are up over the prior year by 15%-20%. Worse yet are certain raw material availability issues that have caused disruptions to some of our operations, broadly to our supply chains and in some cases interrupted our ability to meet rising demand on a timely basis, particularly in the United States.

We are also seeing rising costs throughout our P&L, from higher wages and compensation levels to significantly higher freight costs across all categories, including ocean, rail and truck transportation—which are further impacted by the higher costs of raw materials and packaging.

As a result, we executed price increases in late spring and early summer, and we will likely pursue additional pricing actions.



THOMAS C. SULLIVAN
LEAVES
LASTING
LEGACY
FOR RPM

Thomas C. Sullivan, former chairman and CEO of RPM, passed away peacefully on November 30, 2020, at 83 years old. An ardent proponent of RPM’s corporate philosophy The Value of 168, Tom made the most of every moment. He was an inspiration and example for so many as a loyal son and brother, a patriotic Naval officer, a dedicated husband, a beloved father, an internationally recognized business leader, a generous philanthropist, a widely respected community figure and a man of faith.

Over his 55-year career at the helm of RPM, Tom made a tremendous impact in shaping the company’s growth and success. He joined RPM—then known as Republic Powdered Metals—in 1961 as a division sales manager, before being elected to vice president in 1967 and executive vice president in 1969. Tom assumed leadership of the $11-million company as CEO and chairman in 1971, following the sudden death of his father and RPM founder, Frank C. Sullivan.



Pictured, clockwise:

Tom Sullivan rings the closing bell at the New York Stock Exchange on July 24, 2006.

Tom Sullivan exchanges greetings with Bill Matthews, a longtime sales representative for RPM.

Tom Sullivan shakes hands with former U.S. president Ronald Reagan after RPM was named a bronze medal winner for the chemical industry in Financial World’s best-managed companies.
Under his leadership, RPM grew to more than $2 billion in sales before his retirement as CEO in 2002 through a combination of internal growth and acquisitions. In October 2008, Tom retired from a 37-year charge as RPM’s board chairman, but continued to serve as chairman emeritus until 2016 when company sales were nearly $5 billion.

Publicly, most would recognize Tom’s success as a titan of industry—but privately it was his philanthropic work that gave him sustained joy. Together with his wife Sandy, Tom was a passionate advocate of education initiatives championing the aspirations of underprivileged youth.

Tom’s most enduring trait—and perhaps the secret to his success—was his steadfast belief in people. He had a great way of connecting with others, setting high standards for them and believing in their abilities. As a result of his incredible leadership, Tom leaves a lasting legacy within RPM, his community and his family.

## “Buy great companies.
Support them with resources.
Then, let them grow.”

~ Acquisition philosophy of Thomas C. Sullivan




On May 31, 2021, Thomas S. Gross retired from RPM’s board of directors after nearly nine years of service to the company. A member of the board’s Compensation Committee, Tom also served on the Operating Improvement Committee that oversaw RPM’s MAP to Growth initiative.

Since joining RPM as a director in 2012, Gross played an integral role in the company’s strong performance, providing counsel across key areas relevant to the business and contributing to its improved efficiency and operational excellence.

In 2015, Gross retired from Eaton Corporation, a diversified global leader in power management, after 12 years with the company. He was most recently vice chairman and chief operating officer for the company’s electrical sector, a position he had held since 2009.

We do anticipate that the supply chain disruptions and raw material shortages will result in some margin deterioration in the first half of our 2022 fiscal year, and particularly in the first quarter, in light of last year’s extraordinary Consumer Group performance.

Nonetheless, with the continuing benefits of our MAP to Growth program in fiscal 2022, and the pricing actions that were taken earlier this year, we anticipate a return to gross margin and EBIT margin improvement during the second half of the year, and that fiscal 2022 will be another record year of sales and earnings for RPM shareholders.

## Growth Focused for Fiscal 2022

We will sustain the gains of our MS-168 manufacturing system across our operations, pursuing operating efficiencies throughout RPM with a continuous improvement mindset. With confidence in these new competencies, we are refocusing more of our human and financial capital on top-line growth as we see huge opportunities in our future with existing technologies, new product ideas and acquisitions. We will be less focused on generating quarterly results and more focused on the opportunities that can enhance our margin profile further, accelerate our returns and generate outsized growth over the next three to five years.

## A Return to the Fortune 500

On June 2, we announced RPM’s return to the prestigious Fortune 500 list in 2021, ranking at number 489. When our company last earned a coveted spot in 1994, the list featured only the largest industrial manufacturers—a very proud moment for my father and

our former chairman and CEO, Tom, who sadly passed away this past November. Soon after, the Fortune 500 expanded to include all public companies in the U.S. I know he would have been ecstatic to learn that RPM has once again achieved the remarkable recognition of being named a Fortune 500 company.
Closing Out a Year Like No Other

This year, we recognize four of the company’s veteran leaders for their well-deserved retirements: Terry Horan, president of the Consumer Group, who closes out his 17-year career at RPM having created the blueprint and strategy for the recently formed Consumer Group; Keith Smiley, vice president, finance and controller, who has been an integral member of the RPM family for nearly 30 years; Bill Barrie, president emeritus and 40-year veteran of Mantrose Group; and Nick Simpson, managing director of USL Group, who retires following 30 years of service. Their leadership and vision have played an integral role in the success of this company, and they will be greatly missed.

Never before in my 34-year career at RPM, 18 of which has been as CEO, have I seen or personally felt such emotions—from the extraordinary commitment shown by our associates, despite the burdens Covid-19 placed on them and their families, to the passing of my mentor and father, Tom. Despite all of this, our RPM community demonstrated incredible resilience, commitment and—in too many instances to count—courage. I am grateful to you, our associates, customers, suppliers and shareholders, for the trust and confidence that you put in RPM during this challenging time.

While we successfully completed the MAP to Growth project, the RPM project is never finished. There are a lot of exciting things yet to come, and we look forward to sharing them with you in the years ahead.

Very truly yours,



Frank C. Sullivan
Chairman and Chief Executive Officer

August 25, 2021



# 4-SEGMENT STRUCTURE
DRIVES GROWTH AND EFFICIENCY

At the start of fiscal 2020, RPM realigned its operating structure from three segments to four—Construction Products Group, Performance Coatings Group, Consumer Group and Specialty Products Group. This change enabled RPM to improve synergies and better manage its assets. At the same time, it provided investors with greater visibility into the business and better comparability among RPM’s peers.

## CONSTRUCTION PRODUCTS GROUP



RPM’s Construction Products Group creates and drives unique solutions for the construction, restoration and maintenance of the building envelope—including industrial, commercial and infrastructure projects. It serves distributors, contractors and end-users over a geographic footprint that spans approximately 130 countries and territories worldwide.

34%
OF NET SALES

PLATFORM BRANDS:

TREMO

illbruck

Flowcrete

Dryvit



Nudura

EUCLID CHEMICAL

## CONSUMER GROUP



Professionals and do-it-yourselfers alike rely on the RPM Consumer Group’s leading products to create and innovate. Sold through home improvement centers, hardware and paint stores, mass merchants and craft shops, the Consumer Group’s product presence is rapidly expanding beyond North America to Europe, Australia, South Africa and South America.

38%
OF NET SALES

PLATFORM BRANDS:

RUST-OLEUM











## PERFORMANCE COATINGS GROUP



The products from our Performance Coatings Group protect, decorate and extend the useful life of steel and concrete in industrial and commercial applications. Sold worldwide to a variety of end-users and distributors, its products and services solve large, complex construction, maintenance and restoration challenges.

17%
OF NET SALES

PLATFORM BRANDS:

carboline





STONHARD









## SPECIALTY PRODUCTS GROUP



Recognized as an incubator of new market platforms, RPM’s Specialty Products Group is the best home for entrepreneurial companies. Its industrial, commercial and niche applications are used by multiple end-users, ranging from contractors and distributors to manufacturers and consumers, across the United States and with a growing presence throughout Europe.

11%
OF NET SALES

PLATFORM BRANDS:

LEGEND



DayGlo





PETTIT






RPM’s five-pillar growth strategy creates sustained value for its key stakeholders and drives long-term success for the business. It includes the development of cutting-edge new product innovations, a strategic acquisition program, collaboration among its operating companies, geographic expansion and operational excellence. Examples of this growth strategy at work can be found on the subsequent pages.

## A PROVEN
PLATFORM FOR
SUSTAINABLE
GROWTH

GROWTH
STRATEGY



Euclid Chemical's
Innovative Products
Featured in
New American
Home Design

Watch video: 2021ar.rpminc.com/CPG






## PRODUCT INNOVATIONS

Whether driven by enhancements to existing products or the development of new solutions to address emerging marketplace needs, RPM has a long track record of leveraging innovation as a key catalyst for long-term business growth. From game-changing innovations to sustainable solutions, RPM’s brand-name products help customers solve their biggest challenges and, ultimately, build a better world.

Euclid Chemical partnered with the National Association of Home Builders to supply its Level Top PC-AGG self-leveling concrete overlayment and Increte Granite Coat vinyl-chip epoxy flooring system for the 2021 New American Home in Winter Park, Florida. Featuring an ultra-efficient, state-of-the-art design with zero-net emissions, the New American Home is the official show home of the annual International Builders' Show that showcases the latest trends and innovation in residential design, construction and efficiency. Euclid's products provided a modern, polished aesthetic with superior durability to the "concrete home" design.

Designed to be four times stronger than drywall, DAP’s new Eclipse Rapid Wall Repair Patch offers a specially designed, all-in-one solution that requires no spackling or sanding. Just apply and paint for a completely mess-free repair in minutes. Whether the drywall damage is as small as a nail hole or as large as doorknob impact, DAP Eclipse provides a durable, long-lasting repair.
Nudura’s RPD Dovetail is a new addition to its line of accessories for insulated concrete forms. It is designed to slide into the dovetails of the inner form to support vertical reinforcement—eliminating the need for wire or zip ties to secure the reinforcement bars in place.

Legend Brands introduced its Dri-Eaz HEPA 2000 air scrubber in response to skyrocketing demand in the wake of the Covid-19 pandemic. Designed to deliver high-volume, HEPA-grade air filtration, it features adjustable airflow, easy portability and 7.7 amp draw—half that of competitive units.

Flowcrete UK’s new Isocrete Flowing K-Screed is the liquid version of its award-winning K-Screed product, with the added strength of its innovative Flowing K Binder. Featuring proprietary additives, graded sand and low-shrinkage properties, this self-leveling liquid cementitious screed is the ideal solution to fast-track projects that require large volumes to be installed in a single day.







AH

GATOR

Watch video: 2021ar.rpminc.com/CG



FISCAL 2021
ACQUISITIONS
WITH

$105

MILLION
IN ANNUAL SALES

ADDING TO

60+

ACQUISITIONS
COMPLETED OVER
THE PAST DECADE



Dudick

## STRATEGIC ACQUISITIONS

Acquisitions are a key element of RPM’s overall growth strategy. For more than 30 years, the company has focused on acquiring market-leading brands and product lines that deliver shareholder value and provide customers with new products and services. With its reputation in the specialty coatings industry as being the best home for entrepreneurial companies, RPM applies a disciplined approach to investing in the continued growth of acquired companies. In fiscal 2021, RPM acquired a total of four businesses with combined annual net sales of approximately $105 million.

RPM started fiscal 2021 with the September 2020 acquisition of Ali Industries, a leading manufacturer of sandpaper and other abrasives. Ali’s products are sold under well-recognized brands such as Gator, Finish 1st and Zip Sander. This acquisition broadens the Consumer Group’s surface preparation capabilities, while enabling Ali to enter new markets through an expanded distribution base.

Two additional acquisitions were completed in March 2021. Tuff Coat, a leading rubberized, non-skid coating for aquatic applications, was acquired for RPM’s Modern Recreational Technologies group. The Tuff Coat product line includes water-based, single-component solutions that offer highly durable, impact-resistant, non-skid surfaces. In addition, RPM’s Fibergrate business acquired Bison Innovative Products, a leading manufacturer of raised flooring systems for outdoor living and rooftop environments. By enhancing Bison’s distribution base, this acquisition enables Fibergrate to penetrate new geographies and markets.

RPM’s Tremco Incorporated acquired PreBuck LLC, a manufacturer of engineered “buck” framing systems for insulated concrete form construction, in May 2021. Designed for direct contact with finished concrete and non-corrosive to metals, PreBuck’s products are made from laminated structural lumber pre-treated for long-term durability. Through this acquisition, PreBuck will partner with Nudura to scale the business across North America.

Subsequent to fiscal 2021, RPM’s Carboline subsidiary acquired the Dudick Inc. business. The addition of Dudick, a provider of high-performance coatings, flooring systems and tank linings, strengthens Carboline’s position in the secondary containment linings and flooring market, while opening the door to expanded sales and future growth worldwide.

















# CONNECTIONS CREATING VALUE

RPM promotes a culture of collaboration among its operating companies, enabling them to stay ahead of competitors by responding to customer needs and market conditions more efficiently. This strategy has resulted in increased market penetration, product innovations, shared technological resources, and improved efficiencies in manufacturing and distribution. Many of RPM’s businesses routinely leverage these connections to create shared value—leading to a win-win outcome for all involved.

Through successful collaboration, Performance Coatings Group (PCG) South Africa assumed management of several key product lines in the region, including Flowcrete, a large portion of Tremco Construction Products Group’s product line and Rust-Oleum’s Spraymate business. As a result of their strategic transfer to PCG South Africa, all of these businesses have performed exceptionally well, leading to significant business growth.

Another example is the strategic partnership between Rust-Oleum and RPM Wood Finishes Group (WFG), which quickly rose to the challenge after discovering a large retail customer was in search of a new supplier for its interior wood stains and finishes category. Tasked with matching and shipping more than 200 SKUs in just 70 days, Rust-Oleum and WFG leveraged the combined force of their capabilities and resources to surpass this goal—producing 132 new formulas and 188 new labels. The product line includes Varathane’s Classic Wood Stain, Stain + Poly, Gel Stains and Wood pencils, along with Watco Danish oils. As a result, tens of millions of dollars of new business and significant market share were gained in the interior wood care category.

Viapol and Flowcrete embraced a culture of collaboration by teaming up to provide more than 7,100 square feet of the Flowfresh MF antimicrobial cementitious urethane flooring system at São João Supermercados, a popular supermarket chain in Brazil, to promote sanitary integrity and minimize the risk of contamination in its food processing areas. Using Flowfresh FC as a primer, the flooring system provides a durable, hygienic finish that inhibits up to 99.9% of bacterial growth between cleaning cycles.

With a shared goal of rooftop safety, Tremco Roofing & Building Maintenance and Fibergate joined forces to create an industry leading line of safety products and services designed to protect customers while ensuring compliance with rooftop safety regulations. In addition, the program allowed Fibergate to penetrate a new market for its fiberglass reinforced plastic (FRP) products, a premium alternative to traditional rooftop safety solutions with a longer service life. Combining Tremco’s robust rooftop safety culture with Fibergate’s market-leading FRP products, this collaboration resulted in an expanded customer base and newly tapped revenue streams for both companies.












BOOST TO DAY-GLO DISPERSIONS
CAPACITY FROM PROCESS IMPROVEMENTS

DAP DALLAS OUTPUT INCREASED



ACROSS 13 PRODUCTION LINES



## OPERATIONAL EXCELLENCE

As part of its recently concluded MAP to Growth operating improvement program, RPM has created a culture of operational excellence and continuous improvement. It has maximized the efficiency of the business, while maintaining the strengths of RPM’s growth-oriented, entrepreneurial culture.

A key element behind RPM’s operational improvements has been its MS-168 manufacturing system, which has transformed the way its plants are managed by identifying and executing on opportunities that drive greater manufacturing efficiencies, reduce operating costs and improve speed to market.

An example of this is DAP’s manufacturing facility in Dallas, Texas, which incorporated the major principles of MS-168 to significantly improve overall equipment effectiveness and double output across its 13 production lines. Another case in point is Rust-Oleum, whose R&D and procurement teams collaborated with RPM’s center-led procurement team to successfully complete more than 50 professional qualifications during fiscal 2020—yielding millions of dollars in savings for the enterprise. The Construction Products Group’s facility in Wigan, UK, leveraged MS-168 to reduce its manufacturing lead times in order to optimize cycle time and ensure rapid, predictable output—ultimately allowing the facility to expand its capacity and boost commercial sales.
In addition, RPM implemented Six Sigma certification companywide, which recognizes individuals who demonstrate Six Sigma methodologies during process improvement projects. For example, to drive greater efficiency in basecoat application for NewBrick, a Dryvit employee designed a new mudbox that reduced material waste, increased yield and improved repeatability—resulting in significant cost savings. Rust-Oleum and Dryvit employees increased operational efficiency at their manufacturing plants by reducing overall production costs and drop times—thereby resulting in significant throughput and revenue growth. By streamlining the manufacturing process of Dryvit’s Backstop NT product, the business cut production time, utility costs and material loss while improving worker safety.






Euclid Chemical, Muskratt
Falls Hydroelectric Dam,
Northeastern Canada



Watch video:
2021ar.rpminc.com/PCG

Dryvit, Syta 124 Facility,
Warsaw, Poland

USL Ekspan, A19 Tees Flyover Bridge,
Northeast England

Tremco CPG Asia Pacific,
New Manufacturing
Facility, Malaysia



Global expansion beyond RPM’s core U.S. market is a key element of the company’s growth strategy. Its brands can be found across the globe, helping to build a better world.



Eucomex, API Progreso's Elevated Viaduct Project, Yucatán, Mexico

RPM Products,
Sold Throughout
Latin America



Carboline, Mining
Vessel, South Africa





Flowcrete, Abu Dhabi Youth
Hub, United Arab Emirates

Nullifire, Woodside Technology & Design
Building at Monash
University Melbourne







Stonhard's Stonclad UT seamless, traveled polyurethane mortar floor system, Uitgekookt, Netherlands



## GEOGRAPHIC EXPANSION

With 122 manufacturing facilities across 26 countries worldwide, RPM's brands can be found across the globe. International sales, including exports, account for 33% of the company's total revenue. RPM has continued to expand its global footprint—particularly in established European economies and emerging, high-growth markets such as the Asia-Pacific region. Key drivers of this geographic expansion are RPM's strategic acquisition program and enhanced collaboration among its operating companies.

One major international project is the refurbishment of the UK’s iconic A19 Tees Flyover, a high-level, six-lane bridge that connects Stockton and Middlesbrough across the River Tees. In order to support heavy vehicle traffic while protecting the surrounding bridge structure, USL Ekspan replaced eight of the nearly 6,400-foot-long motorway’s expansion joints with its Britflex BEJ and MEJS expansion joint systems. This upgraded bridge structure ultimately opens the door to similar projects throughout the UK’s highways network.

Southeast Asia is at the forefront of an infrastructure boom, particularly across the transportation and energy sectors. To capitalize on this opportunity and strengthen its foothold in the construction business, Tremco Construction Products Group (CPG) began supplying USL Group brands—including Matacryl, Pitchmastic PmB, Nufins, PDS and Prime Resins—across the Asia-Pacific region on June 1, 2021. By leveraging Tremco CPG's strong geographic presence and USL's range of specialty solutions, the company can shift its focus to servicing larger infrastructure projects, such as bridges and highways, in these emerging markets.

In order to meet increasing demand across the Asia-Pacific region for locally produced, innovative construction solutions that improve the built environment, Tremco CPG Asia Pacific (APAC) recently began construction on a new manufacturing facility in Malaysia. Located in the heavy industrial zone of UMW High Value Manufacturing Park in Serendah—nearly 24 miles north of the company’s Kepong plant—the new facility offers accessibility to other Asia-Pacific markets via Malaysia’s major port network. This will allow an expansion of production capacity and position Tremco CPG APAC as a leading supplier in the region.

In addition, several of Carboline’s corrosion-resistant coatings were recently used to restore one of the largest fuel storage tanks in Central America, which holds approximately 260,000 barrels. Featuring its Plasite 4550 S, Carbozinc 11, Carboguard 890 and Carboxane 2000 products, Carboline’s interior and exterior coating system provided the storage tank with long-term protection from galvanic corrosion and the harshest environments.



# BUILDING A BETTER WORLD



## GOING THE EXTRA MILE TO SUPPORT EMPLOYEES

Tremco CPG APAC–North Asia is focused on improving employee morale by creating a workplace that is supportive, engaging and inclusive. The business operates on a flexible work schedule for employees who rely on childcare, allocates budget for extra-curricular activities, provides engaging employee training and ensures written material is available in the native languages of workers.

## NEW COATING MAKES FOOD PACKAGING ENVIRONMENTALLY FRIENDLY

Packaging made from plastics, Styrofoam and other non-biodegradable materials is becoming a thing of the past thanks to the VerdeCoat line of green barrier coatings from Mantrose-Haeuser. VerdeCoat products are specially formulated to be biodegradable, compostable, recyclable and repulpable. In addition to being environmentally friendly, VerdeCoat products are approved for direct food contact.
RPM’s products and services literally contribute to making structures better through beautification, protection and restoration. At the same time, we aspire to make the world a better place for our customers, entrepreneurs, associates, shareholders and the communities in which we operate. We do so by operating with environmentally sustainable products and processes, social responsibility and good governance practices.

## CLOSED-LOOP SYSTEM REDUCES WATER CONSUMPTION

By installing a closed-loop water system with heat exchangers, Rust-Oleum’s Attleboro, Mass., facility reduced its water consumption by nearly 12 million gallons per year.







## PROGRAM CLOSES SKILLS GAP AND PAVES CAREER PATHS

Tremco’s Weatherproofing Technologies Inc. is partnering with state Departments of Rehabilitation & Correction to provide designated offenders with in-depth training for a career in the roofing industry through its apprenticeship program. Upon release from incarceration, WTI guarantees employment opportunities and benefits.

Learn more about our ESG initiatives: 2021ar.rpminc.com/ESG-report



## DELIVERING VALUE TO SHAREHOLDERS

Creating shareholder value for nearly five decades, RPM boasts a stock price appreciation and dividend track record that offer superior, long-term returns for its shareholders.

FISCAL YEAR CASH DIVIDENDS PER SHARE



*Source: Mergent Handbook of Dividend Achievers, U.S.: Mergent Inc., April 2021, ISBN 978-1-64972-015-3

COMPARISON OF CUMULATIVE TOTAL RETURN
Among RPM International Inc., the S&P 500 Index and two Customized Peer Groups





The graphs above compare the cumulative five- and ten-year total return provided to stockholders on RPM International Inc.'s common stock relative to the cumulative total returns of the S&P 500 Index and two customized peer groups whose individual companies are listed in footnotes 1 and 2 below. The graph on page 3 compares the same data over a three-year period. An investment of $100 (with reinvestment of all dividends) is assumed to have been made in RPM common stock, the peer group, and the index on 5/31/2011, 5/31/2016 and 5/31/2018 and their relative performance is tracked through 5/31/2021.

(1) The eight companies in the first customized peer group are: Akzo Nobel N.V., Axalta Coating Systems Ltd., Ferro Corporation, GCP Applied Technologies Inc., H.B. Fuller Company, Masco Corporation, PPG Industries, Inc. and The Sherwin-Williams Company.

(2) The nine companies in the second customized peer group are: Akzo Nobel N.V., Axalta Coating Systems Ltd., Carlisle Companies Inc., GCP Applied Technologies Inc., H.B. Fuller Company, Masco Corporation, PPG Industries, Inc., The Sherwin-Williams Company and Sika AG.



<table><tr><td>In thousands, except per share and percent data</td><td></td><td></td><td></td><td></td></tr><tr><td>All financial data based on fiscal years ended May 31,</td><td>2021¹</td><td>2020¹</td><td>2019¹</td><td>2018¹</td></tr><tr><td>RESULTS FROM OPERATIONS</td><td></td><td></td><td></td><td></td></tr><tr><td>Net sales</td><td>$ 6,106,288</td><td>$ 5,506,994</td><td>$ 5,564,551</td><td>$ 5,321,643</td></tr><tr><td>Income before income taxes</td><td>668,438</td><td>407,764</td><td>339,845</td><td>417,048</td></tr><tr><td>Net income attributable to RPM International Inc. stockholders</td><td>502,643</td><td>304,385</td><td>266,558</td><td>337,770</td></tr><tr><td>PERFORMANCE MEASURES</td><td></td><td></td><td></td><td></td></tr><tr><td>Return on sales %²</td><td>8.2</td><td>5.5</td><td>4.8</td><td>6.3</td></tr><tr><td>Return on total RPM International Inc. stockholders&#x27; equity %²</td><td>21.2</td><td>22.8</td><td>17.6</td><td>22.0</td></tr><tr><td>PER SHARE DATA</td><td></td><td></td><td></td><td></td></tr><tr><td>Basic earnings per common share attributable to RPM International Inc. stockholders</td><td>$ 3.89</td><td>$ 2.35</td><td>$ 2.03</td><td>$ 2.55</td></tr><tr><td>Diluted earnings per common share attributable to RPM International Inc. stockholders</td><td>3.87</td><td>2.34</td><td>2.01</td><td>2.50</td></tr><tr><td>Cash dividends declared per share</td><td>1.50</td><td>1.43</td><td>1.37</td><td>1.26</td></tr><tr><td>Total RPM International Inc. stockholders&#x27; equity per share²</td><td>13.58</td><td>9.83</td><td>10.77</td><td>12.43</td></tr><tr><td>BALANCE SHEET HIGHLIGHTS</td><td></td><td></td><td></td><td></td></tr><tr><td>Total RPM International Inc. stockholders&#x27; equity</td><td>$ 1,743,025</td><td>$ 1,262,445</td><td>$ 1,405,952</td><td>$ 1,630,773</td></tr><tr><td>Retained earnings</td><td>1,852,259</td><td>1,544,336</td><td>1,425,052</td><td>1,342,736</td></tr><tr><td>Working capital</td><td>1,450,590</td><td>1,329,849</td><td>978,687</td><td>1,464,205</td></tr><tr><td>Total assets</td><td>6,252,969</td><td>5,630,954</td><td>5,441,355</td><td>5,271,822</td></tr><tr><td>Long-term debt</td><td>2,378,544</td><td>2,458,290</td><td>1,973,462</td><td>2,170,643</td></tr><tr><td>OTHER DATA</td><td></td><td></td><td></td><td></td></tr><tr><td>Cash flows from operating activities</td><td>$ 766,156</td><td>$ 549,919</td><td>$ 292,941</td><td>$ 390,383</td></tr><tr><td>Depreciation and amortization</td><td>146,857</td><td>156,842</td><td>141,742</td><td>128,499</td></tr><tr><td>Average shares outstanding</td><td>128,334</td><td>128,468</td><td>130,552</td><td>131,179</td></tr></table>

RPM CONSOLIDATED RESULTS










1. Consolidated figures presented in the table on page 22 reflect as-reported data. Refer to the accompanying adjusted data charts provided in conjunction with the explanatory footnotes below for a discussion of the items not indicative of ongoing operations. • Acquisitions made by the company during the periods presented may impact comparability from year to year. • Certain reclassifications have been made to prior-year amounts to conform to the current-year presentation. • See Notes to Consolidated Financial Statements.

2. Return on sales % is calculated as net income (loss) attributable to RPM International Inc. stockholders divided by net sales; return on total RPM International Inc. stockholders' equity % is calculated as net income (loss) attributable to RPM International Inc. stockholders divided by the average of the current and prior year total RPM International Inc. stockholders' equity; and total RPM International Inc. stockholders' equity per share is calculated as total RPM International Inc. stockholders' equity divided by average shares outstanding.

## 3. Adjusted results exclude:

<table><tr><td rowspan="2">(in millions, except EPS impact)</td><td colspan="3">In Fiscal 2021</td><td colspan="3">In Fiscal 2020</td><td colspan="3">In Fiscal 2019</td><td colspan="3">In Fiscal 2018</td></tr><tr><td>NI Impact</td><td>EPS Impact</td><td>NI Impact</td><td>EPS Impact</td><td>NI Impact</td><td>EPS Impact</td><td>NI Impact</td><td>EPs Impact</td><td>NI Impact</td><td>EPS Impact</td><td>NI Impact</td><td>EPS Impact</td></tr><tr><td>(a) Inventory-related charges</td><td>$ 1.9</td><td>$ 0.01</td><td>$ 15.3</td><td>$ 0.12</td><td>$ 16.7</td><td>$ 0.12</td><td>$ 25.8</td><td>$ 0.19</td><td></td><td></td><td></td><td></td></tr><tr><td>(b) Restructuring expense</td><td>19.6</td><td>0.15</td><td>27.7</td><td>0.21</td><td>32.5</td><td>0.24</td><td>12.1</td><td>0.09</td><td></td><td></td><td></td><td></td></tr><tr><td>(c) Accelerated expense - other</td><td>4.9</td><td>0.04</td><td>17.3</td><td>0.13</td><td>4.3</td><td>0.03</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(d) Receivable write-offs</td><td>1.3</td><td>0.01</td><td>2.6</td><td>0.02</td><td>6.3</td><td>0.05</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(e) ERP consolidation plan</td><td>3.6</td><td>0.03</td><td>7.9</td><td>0.06</td><td>4.8</td><td>0.04</td><td>1.0</td><td>0.01</td><td></td><td></td><td></td><td></td></tr><tr><td>(f) Professional fees</td><td>26.0</td><td>0.20</td><td>15.6</td><td>0.12</td><td>19.9</td><td>0.15</td><td>1.0</td><td>0.01</td><td></td><td></td><td></td><td></td></tr><tr><td>(g) Acquisition-related costs</td><td>1.3</td><td>0.01</td><td>0.7</td><td>0.01</td><td>2.2</td><td>0.02</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(h) Unusual costs triggered by executive departures</td><td>2.2</td><td>0.02</td><td>0.8</td><td>0.01</td><td>1.3</td><td>0.01</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(i) Unusual executive costs, net of insurance proceeds</td><td>(1.3)</td><td>(0.01)</td><td>(1.8)</td><td>(0.01)</td><td>6.5</td><td>0.05</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(j) Divestitures</td><td>(1.3)</td><td>(0.01)</td><td>0.7</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(k) Discontinuation of a product line</td><td>(0.3)</td><td>-</td><td>6.6</td><td>0.05</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(l) Termination of license agreement</td><td>-</td><td>-</td><td>4.0</td><td>0.03</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(m) Charge (adjustment) to exit Flowcrete China</td><td>(0.2)</td><td>-</td><td>(1.0)</td><td>(0.01)</td><td>-</td><td>-</td><td>4.2</td><td>0.03</td><td></td><td></td><td></td><td></td></tr><tr><td>(n) Convertible debt extinguishment</td><td>-</td><td>-</td><td>-</td><td>-</td><td>0.7</td><td>-</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(o) Fair value adjustment to acquisition earnout</td><td>-</td><td>-</td><td>-</td><td>-</td><td>1.8</td><td>0.01</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(p) Loss on South Africa business EE</td><td>-</td><td>-</td><td>-</td><td>-</td><td>0.4</td><td>-</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(q) SEC settlement</td><td>1.5</td><td>0.01</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td>-</td><td></td><td></td><td></td><td></td></tr><tr><td>(r) Investment (gains) losses</td><td>(31.2)</td><td>(0.25)</td><td>(1.1)</td><td>(0.01)</td><td>7.7</td><td>0.06</td><td>(10.0)</td><td>(0.08)</td><td></td><td></td><td></td><td></td></tr><tr><td>(s) Discrete tax adjustment</td><td>10.5</td><td>0.08</td><td>-</td><td>-</td><td>(11.0)</td><td>(0.08)</td><td>(18.1)</td><td>(0.13)</td><td></td><td></td><td></td><td></td></tr></table>

## TRADEMARKS APPEARING IN THIS ANNUAL REPORT:

2X ULTRA COVER® • ALEX PLUS® • ALIM® • BACKSTOP® • BISON™ • BRITFLEX™ • BULLS EYE 1-2-3® • CARBOGUARD® • CARBOLINE® • CARBOXANE® • CARBOZINC® • CONCROBIUM® • DAP® • DAYGLO® • DRI-EAZ® • DRYVIT® • DUDICK INC.® • ECLIPSE® • EUCLID CHEMICAL™ • EUCO® • FIBERGRATE® • FINISH 1ST® • FLOWCRETE® • FLOWFRESH® • FLOWING K-SCREED™ • GATOR™ • INCRETE™ • HUMMERVOLL INDISTRIBELGEG™ • ILLBRUCK® • ISOCRETE™ • K-SCREED™ • KICK-COP • COAT PROTECTION PRODUCTS™ • KRUD-KUTTER® • LEGEND BRANDS® • LEVEL TOP PC-AGGTM • MATACRYL® • MOHAWK® • NEWBRICK® • NUFINS™ • NULIFIRE® • PDS™ • RPM WOOD FINISHES GROUP™ • PAINTER'S TOUCH® • PETIT® • PITCHMASTIC PMB® • PLASITE® • PRIME RESINS® • RADIANT COLOR® • RPD DOVETAL™ • RUST-OLEUM® • SILICONE MAX™ • SPRAYMATEM® • STONCLAD® • STONHARD® • STOPS RUST® • T TREMCO™ • T NUDURA™ • T PREBUCK™ • TCIM™ • TECHSTAR MEJSM™ • TESTORS® • THE VALUE OF 168® • TUFF COAT™ • TUF-STRAND® • USL™ • VARATHANE® • VERDECOAT® • VIAPOL™ • WATCO® • ZINSSER® • ZIP SANDER® • FORTUNE 500® is a registered trademark of Fortune Media IP Limited and is used under a license. • Any other marks appearing in this annual report that are not the trademarks of RPM International Inc. or its subsidiaries are the property of their respective owners.



## World Headquarters:

RPM International Inc.
2628 Pearl Road
P.O. Box 777
Medina, OH 44258
Phone: 330-273-5090 or 800-776-4488
Fax: 330-225-8743
Website: www.rpminc.com
Email: info@rpminc.com

## Annual Shareholders' Meeting:

RPM will hold its annual meeting of stockholders at 2:00 p.m. EDT on Thursday, October 7, 2021. RPM intends to hold an in-person meeting at the Holiday Inn at 15471 Royalton Road in Strongsville, Ohio. As part of its contingency planning regarding Covid-19 and its variants, RPM is preparing for the possibility that the annual meeting may be held solely by means of remote communication in order to maintain the health and safety of its investors and employees. If RPM takes this step, it will announce its decision to do so in advance through a public filing with the Securities and Exchange Commission, and details will be available on RPM's website at www.rpminc.com.

## Form 10-K & Other Financial Information:

Investors may obtain, at no charge, a copy of the RPM Annual Report to the Securities and Exchange Commission on Form 10-K and other investor information by contacting RPM's manager of investor relations, at 800-776-4488. Form 10-K, other public financial reports and news releases may also be obtained electronically through the RPM website.

## Corporate Governance:

Copies of the RPM Board of Directors Corporate Governance Guidelines, as well as the Committee Charters and RPM's Governance Documents, are available on RPM's website at www.rpminc.com, under "ESG/Corporate Governance." Copies of these materials are also available, without charge, upon written request to the Secretary of RPM.

## Institutional Investor &

## Security Analyst Inquiries:

Security analysts and investment professionals with questions regarding RPM should contact Russell L. Gordon, vice president and chief financial officer, at 330-273-5090 or rgordon@rpminc.com.

## Dividend Payments:

Common stock cash dividends are payable quarterly, upon authorization of the Board of Directors. Regular payment dates are typically the 31 \( ^{st} \)  of July, October and January and the 30 \( ^{th} \)  of April. RPM has increased cash dividend payments to its stockholders for 47 consecutive years.

## Stock Transfer Agent, Registrar & Dividend Disbursing Agent:

Effective June 21, 2021, RPM appointed American Stock Transfer & Trust Company (AST) as our new stock transfer and dividend disbursing agent. AST maintains RPM's stockholder records and is responsible for disbursing dividend checks. Questions concerning your account, change of address, transfer of ownership, lost certificates, safekeeping of stock certificates, dividend payments, direct deposit of dividends and other related items should be directed to:

American Stock Transfer & Trust Company
6201 15th Avenue
Brooklyn, NY 11219
Email: help@astfinancial.com
Phone: 800-988-5238 or
718-921-8124 (outside the U.S.)
Website: www.astfinancial.com

## Internet Account Access:

Stockholders of record may access their accounts via the internet to view account holdings, change address, complete certain transactions and get answers to other stock-related inquiries through AST’s website at www.astfinancial.com.

## Direct Stock Purchase & Dividend Reinvestment Plan:

RPM offers a direct stock purchase and dividend reinvestment plan administered by AST. The plan allows new investors to purchase RPM common stock directly and existing stockholders to increase their holdings. There is no commission cost for shares purchased. The minimum initial investment is $200. Additional cash investments must be at least $25 and not more than $5,000 per month. For more details on the plan or questions concerning existing dividend reinvestment accounts, please contact AST via the contact information listed above.

## ESG Report

RPM’s ESG report can be downloaded at 2021ar.rpminc.com/ESG-report. You can also email sustainability@rpminc.com to learn more.

Independent Registered Public Account Firm: Deloitte & Touche LLP, Cleveland, Ohio

Counsel:
Calfee, Halter & Griswold LLP, Cleveland, Ohio

## Stock Exchange Listing:

RPM RPM International Inc. is listed on the LISTED New York Stock Exchange under the NYSE ticker symbol "RPM."

## QUARTERLY STOCK PRICE AND DIVIDEND INFORMATION

Shares of our common stock are traded on the New York Stock Exchange under the symbol RPM. The table below indicates the high and low sales prices for these shares of common stock, as well as the respective cash dividends paid, for each quarter of the two most recent fiscal years.

Range of Sales Prices and Dividends Paid

<table><tr><td>Fiscal 2021</td><td>High</td><td>Low</td><td>Dividends paid per share</td><td>Fiscal 2020</td><td>High</td><td>Low</td><td>Dividends paid per share</td></tr><tr><td>First Quarter</td><td>$ 87.00</td><td>$ 71.19</td><td>$ 0.36</td><td>First Quarter</td><td>$ 69.62</td><td>$ 53.40</td><td>$ 0.35</td></tr><tr><td>Second Quarter</td><td>$ 98.35</td><td>$ 78.13</td><td>$ 0.38</td><td>Second Quarter</td><td>$ 75.88</td><td>$ 64.00</td><td>$ 0.36</td></tr><tr><td>Third Quarter</td><td>$ 91.77</td><td>$ 79.07</td><td>$ 0.38</td><td>Third Quarter</td><td>$ 77.47</td><td>$ 62.44</td><td>$ 0.36</td></tr><tr><td>Fourth Quarter</td><td>$ 99.30</td><td>$ 79.87</td><td>$ 0.38</td><td>Fourth Quarter</td><td>$ 75.06</td><td>$ 42.85</td><td>$ 0.36</td></tr></table>

Source: New York Stock Exchange

Cash dividends are payable quarterly, upon authorization of the board of directors. Regular payment dates are approximately the last day of July, October, January and April.




Kirkland B. Andrews (2)
Appointed 2018; Executive Vice President and Chief Financial Officer, Evergy, Inc., Kansas City, Missouri (a regulated utility holding company)

John M. Ballbach (4)
Appointed 2018; former Chairman and Chief Executive Officer, VWR International, LLC, Radnor, Pennsylvania (a global laboratory supply and distribution company)

Bruce A. Carbonari (1), (4), (5)
Elected 2002; retired Chairman and Chief Executive Officer, Fortune Brands, Inc., Deerfield, Illinois (a leading consumer brands company)

David A. Daberko (1), (3*)
Elected 2007; retired Chairman and Chief Executive Officer, National City Corporation, Cleveland, Ohio, now part of PNC Financial Services Group, Inc. (a financial holding company)

Jennifer D. Deckard (2), (4)
Elected 2015; Chief Finance and Administrative Officer of The Sisters of Notre Dame of the United States (faith-based educational institutions, retirement communities and a hospital); former President and Chief Executive Officer, Covia Holdings Corporation, Independence, Ohio (a provider of minerals and materials solutions)

(1) Executive Committee (2) Audit Committee (3) Compensation Committee (4) Governance & Nominating Committee (5) Lead Director * Chairman of the Committee

PICTURED LEFT TO RIGHT:
Robert A. Livingston
Kirkland "Kirk" B. Andrews
William B. Summers, Jr.
John M. Ballbach
David A. Daberko
Salvatore D. Fazzolari
Frank C. Sullivan
Bruce A. Carbonari
Julie A. Lagacy
Jennifer D. Deckard
Frederick R. Nance

Salvatore D. Fazzolari (1), (2*)
Elected 2013; former Chairman, President and Chief Executive Officer, Harsco Corporation, Camp Hill, Pennsylvania (a diversified global industrial company)

Julie A. Lagacy (2)
Elected 2017; Vice President, Enterprise Strategy, Caterpillar Inc., Peoria, Illinois (a global manufacturer of construction and mining equipment)

Robert A. Livingston (3)
Elected 2017; retired President and Chief Executive Officer, Dover Corporation, Downers Grove, Illinois (a diversified global industrial manufacturer)

Frederick R. Nance (1), (4*)
Elected 2007; Global Managing Partner, Squire Patton Boggs (US) LLP, Cleveland, Ohio (attorneys at law)

Frank C. Sullivan (1*)
Elected 1995; Chairman and Chief Executive Officer, RPM International Inc.

William B. Summers, Jr. (3)
Elected 2004; retired Chairman and Chief Executive Officer, McDonald Investments Inc., Cleveland, Ohio, now part of KeyBanc Capital Markets Inc. (an investment banking and securities firm)

## OFFICERS

Frank C. Sullivan
Chairman and Chief Executive Officer
Edward W. Moore
Senior Vice President, General Counsel
and Chief Compliance Officer
Russell L. Gordon
Vice President and Chief Financial Officer
Janeen B. Kastner
Vice President – Corporate Benefits
and Risk Management
Michael H. Sullivan
Vice President – Operations and
Chief Restructuring Officer

Kenneth M. Armstrong
Vice President – Environmental,
Health and Safety

Scott D. Copeland
Vice President – Financial Planning
and Analysis

Tracy D. Crandall
Vice President – Compliance and
Associate General Counsel
Lonny R. DiRusso
Vice President and Chief
Information Officer

Matthew Franklin
Vice President – Information Technology

Gordon Hyde
Vice President – Manufacturing
Timothy R. Kinser
Vice President – Procurement

John F. Kramer
Vice President – Corporate Development

Randell McShepard
Vice President – Public Affairs and
Chief Talent Officer

Mark T. Rankin
Vice President – Global Systems

Matthew T. Ratajczak
Vice President – Global Tax and Treasurer

Keith R. Smiley
Vice President – Finance and Controller

Thomas C. Sullivan, Jr.
Vice President – Corporate Development






## BUILDING A BETTER WORLD

From homes and workplaces,
to infrastructure and precious landmarks,
RPM's brands are trusted by consumers
and professionals worldwide to:



BEAUTIFY
Structures

PROTECT
Against Harsh
Environments

PROLONG
Lifecycles

ENHANCE
Sustainability

RPM

RPM International Inc. • 2628 Pearl Road, P.O. Box 777 • Medina, Ohio 44258
Phone: 330-273-5090 • Fax: 330-225-8743 • Email: info@rpminc.com • Web: www.rpminc.com

CONNECT WITH RPM
in ✓ ✓

OUR BRANDS
PAY DIVIDENDS

47
consecutive years
of cash dividend
increases





LEARN MORE
www.RPMinc.com/invest





FORTUNE
500
2021