Donaldson Company Highlights Strategic Priorities and Announces Fiscal 2021 Financial Targets at Investor Day in New York City

Donaldson Company, Inc. (NYSE: DCI), a leading worldwide manufacturer of filtration products and solutions, today will webcast its Investor Day from the New York Stock Exchange. The event features presentations and question and answer sessions with members of the Company’s executive leadership team, including:

• Tod Carpenter, Chairman, President and Chief Executive Officer
• Michael Wynblatt, Vice President, Chief Technology Officer
• Rich Lewis, Senior Vice President, Global Operations
• Tom Scalf, Senior Vice President, Engine Products
• Jeff Spethmann, Senior Vice President, Industrial Products
• Scott Robinson, Senior Vice President, Chief Financial Officer

The team will provide an in-depth review of Donaldson’s strategic priorities, including business segment performance, leadership through innovation, operational excellence and its capital allocation framework. Additionally, the Company is introducing long-range financial targets, including a framework for profitable growth through fiscal 2021.

“We continue to make excellent progress on our strategic priorities related to expanding our industry-leading technologies and solutions, extending our market access and executing strategic acquisitions,” said Tod Carpenter, chairman, president and chief executive officer. “We expect that benefits from strong execution of these priorities, supported by our technological innovations, deep customer relationships and global presence, will allow us to continue delivering profitable growth well into the future.”

Fiscal 2021 Financial Targets and Framework

Donaldson expects to achieve the following financial targets by the end of fiscal 2021:

• Total fiscal 2021 sales between $3.0 billion and $3.3 billion, reflecting an average annual growth rate of 3 to 7 percent in fiscal years 2019 through 2021.
• Operating margin between 15.0 and 15.8 percent, compared with 13.8¹ percent in 2018.

The Company also expects to maintain its disciplined approach to capital deployment, including investments in strategic growth priorities and returning cash to shareholders through dividends and share repurchase.

¹ Fiscal 2018 restated to reflect the adoption of the new FASB pension accounting standard (ASU 2017-07) beginning in fiscal 2019.

Miscellaneous

The live webcast of Donaldson’s Investor Day will begin at 8:30 a.m. EDT and conclude at approximately 12:30 p.m. The Investor Day presentations and access to the webcast can be found in the “Events & Presentations” section of Donaldson’s Investor Relations website at IR.Donaldson.com, and a replay of the webcast can be found on this site following the event.