Ecolab Q3 adjusted EPS rises 5% to $2.18

Ecolab expects 2026 adjusted EPS of $8.10 to $8.20, while fourth-quarter organic sales growth is projected at 6% to 7%.

Rhea-AI Filing Summary

Ecolab (ECL) reported third-quarter 2026 net sales of $4,694.8 million, up 13%, while organic sales rose 7%. Reported diluted EPS was $1.95, down 5% from a year earlier; adjusted diluted EPS was $2.18, up 5%. Adjusted operating income rose 14% to $893.4 million, and organic operating income margin was 19.6%, 70 basis points higher. Net interest expense increased $70 million, reflecting financing for the Ovivo Electronics and CoolIT acquisitions; acquisition-related amortization and financing costs were an approximately 10% headwind to adjusted EPS growth.

Global High-Tech organic sales grew 63% and Life Sciences grew 17%. For full-year 2026, Ecolab expects adjusted diluted EPS of $8.10 to $8.20, up 8% to 9%. For fourth-quarter 2026, it expects adjusted diluted EPS of $2.13 to $2.23, up 2% to 7%, with reported sales growth of 12% to 14% and organic sales growth of 6% to 7%. Fourth-quarter EPS outlook includes an approximately 12-percentage-point headwind from CoolIT acquisition-related amortization and financing costs.

4 points · 0 major

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Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointReported net sales increased 13% to $4,694.8 million in Q3.
• Moderate pointAdjusted diluted EPS rose 5% to $2.18 in Q3.
• Moderate pointOrganic operating income increased 11% in the third quarter.
• Moderate point. Forward-looking: it has not happened yet and may not happen.2026 adjusted diluted EPS outlook is $8.10 to $8.20, up 8% to 9%.

Negative

• Moderate pointReported net income attributable to Ecolab fell 6% to $551.3 million.
• Moderate pointReported diluted EPS declined 5% to $1.95.

Filing Explained

This 8-K reports Ecolab’s third-quarter results; the accompanying balance-sheet figures show net debt/EBITDA of 3.1 on September 30, 2026, versus 1.7 a year earlier, with $11,915.3 million of long-term debt, documenting a higher reported leverage measure.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Reported net sales: $4,694.8 million Organic sales: $4,452.3 million Reported operating income: $810.5 million +4 more

7 metrics

Reported net sales $4,694.8 million Third quarter 2026; up 13% from the third quarter of 2025

Organic sales $4,452.3 million Third quarter 2026; up 7%

Reported operating income $810.5 million Third quarter 2026; up 7%

Reported net income attributable to Ecolab $551.3 million Third quarter 2026; down 6%

Reported diluted EPS $1.95 per share Third quarter 2026; down 5%

Adjusted diluted EPS $2.18 per share Third quarter 2026; up 5%

2026 adjusted diluted EPS outlook $8.10 to $8.20 per share Expected increase of 8% to 9% versus last year

Key Terms

Organic sales, Adjusted diluted earnings per share, Fixed currency rates, Special (gains) and charges, +1 more

5 terms

Organic sales financial

"organic sales growth accelerating to 7%"

Organic sales are the change in a company’s revenue that comes from its existing business operations, excluding effects of acquisitions, divestitures, and currency swings. Think of it like measuring how much a garden grows from the plants you already tended, rather than adding new pots; investors use organic sales to judge whether demand and core business performance are genuinely improving or if growth is driven by one‑time deals or accounting shifts.

Adjusted diluted earnings per share financial

"adjusted diluted earnings per share in the $8.10 to $8.20 range"

Adjusted diluted earnings per share is the company’s net profit per share after accounting for potential extra shares (from options or convertible securities) and removing one‑time or unusual items so the number reflects ongoing business results. Think of it like timing a runner’s steady pace after excluding a few unexpected stops; it gives investors a clearer view of sustainable profit available to each share. Investors use it to compare companies and judge underlying profitability and valuation without short‑term distortions.

Fixed currency rates financial

"Fixed currency rates established by management at the beginning of 2026"

Special (gains) and charges financial

"Special (gains) and charges were a net charge of $83 million"

Adjusted EBITDA financial

"Adjusted EBITDA $4,283.7"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Earnings Snapshot

Reported net sales: $4,694.8 million · Guidance included

Third quarter ended September 30, 2026

Reported net sales $4,694.8 million +13%

Reported operating income $810.5 million +7%

Reported net income attributable to Ecolab $551.3 million -6%

Reported diluted EPS $1.95 per share -5%

Adjusted diluted EPS $2.18 per share +5%

Guidance

2026 adjusted diluted EPS of $8.10 to $8.20, up 8% to 9%; fourth-quarter 2026 adjusted diluted EPS of $2.13 to $2.23, up 2% to 7%.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were ECL's third-quarter 2026 sales and diluted EPS?

Ecolab reported third-quarter 2026 net sales of $4,694.8 million, up 13%, and diluted EPS of $1.95, down 5%; adjusted diluted EPS was $2.18, up 5%. Organic sales were $4,452.3 million, up 7%.

What is ECL's 2026 adjusted EPS outlook?

Ecolab expects 2026 adjusted diluted EPS of $8.10 to $8.20, rising 8% to 9% versus last year. The range reflects an approximate 6 percentage point short-term headwind from CoolIT acquisition-related amortization and financing costs. Ecolab expects quantifiable 2026 special charges of approximately $0.83 per share, principally related to restructuring and acquisition and integration costs.

What does ECL expect for fourth-quarter 2026 sales and EPS?

Ecolab expects fourth-quarter reported sales growth of 12% to 14% and organic sales growth of 6% to 7%. Adjusted diluted EPS is expected to be $2.13 to $2.23, up 2% to 7%, reflecting an approximately 12 percentage point short-term headwind from CoolIT acquisition-related amortization and financing costs.

Which Ecolab businesses led organic sales growth in the third quarter?

Global High-Tech organic sales grew 63% and Life Sciences organic sales grew 17%. Ovivo Electronics and CoolIT were expected to contribute approximately 2 percentage points to Ecolab's annual organic sales growth one year after close.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/27/2026 - 08:03 AM EDT Accepted by SEC EDGAR 10/27/2026 - 08:02 AM EDT Learn about SEC filing dates

0000031462FALSE00000314622026-10-272026-10-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 27, 2026

ECOLAB INC.

(Exact name of registrant as specified in its charter)

Delaware			1-9328			41-0231510
(State or other jurisdiction of incorporation)			(Commission File No.)			(IRS Employer Identification No.)

1 Ecolab Place, St. Paul, Minnesota 55102

(Address of principal executive offices) (Zip Code)

1-800-232-6522

(Registrant’s telephone number, including area code)

(Not applicable)

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, $1.00 par value

ECL

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On October 27, 2026, Ecolab Inc. (“Ecolab”) announced earnings for the third quarter ended September 30, 2026. A copy of the (i) News Release issued by Ecolab in connection with this report under Item 2.02 is furnished and attached as Exhibit (99.1) and (ii) Supplemental Data to be used in connection with the conference call to be held discussing the third quarter results is furnished and attached as Exhibit (99.2), each of which is incorporated by reference herein. Ecolab also will publish the attached exhibits on its website located at www.ecolab.com.

Cautionary Statements Regarding Forward Looking Information.

Statements contained in this Current Report on Form 8-K, including statements concerning Ecolab’s restructuring plan, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations of management of the Company. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this report. In particular, the ultimate results of any restructuring initiative depend on a number of factors, including the development of final plans, the impact of local regulatory requirements regarding employee terminations, the time necessary to develop and implement the restructuring initiatives and the level of success achieved through such actions in improving competitiveness, efficiency and effectiveness. Additional risks and uncertainties that may affect operating results and business performance are set forth under Item 1A of our most recent Form 10-K, and the Company’s other public filings with the Securities and Exchange Commission. Ecolab does not undertake, and expressly disclaims, any duty to update any forward-looking statement whether as a result of new information, future events or changes in expectations, except as required by law.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits.

The following exhibits are furnished pursuant to Item 2.02 of Form 8-K and should not be deemed to be “filed” under the Securities Exchange Act of 1934.

Exhibit No.

Description

Method Of Filing

(99.1)

Ecolab Inc. News Release dated October 27, 2026.

Filed herewith electronically.

(99.2)

Supplemental Data for Third Quarter dated October 27, 2026.

Filed herewith electronically.

(104)

Cover Page Interactive Data File.

Embedded within the Inline XBRL document.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			ECOLAB INC.
Date: October 27, 2026			By:			/s/ Youhao Dong
						Youhao Dong
						Assistant Secretary

3

Exhibit 99.1

News Release

Investor Contact:			Media Contact:
Andrew Hedberg (651) 250-2185			Victoria Whitney (651) 250-4724

ECOLAB DELIVERS STRONG AND ACCELERATING OPERATING PERFORMANCE

REPORTED DILUTED EPS $1.95; ADJUSTED DILUTED EPS $2.18, +5%

2026 ADJUSTED DILUTED EPS OUTLOOK: $8.10 - $8.20, +8% - 9%

THIRD QUARTER HIGHLIGHTS

•Strong execution drove broad-based acceleration, with reported sales growth of 13% and organic sales growth accelerating to 7%. Volume growth improved to 2% despite ongoing Middle East disruptions, while pricing accelerated to 5%.

•Growth in Ecolab's core businesses strengthened, led by accelerating growth in Food & Beverage and Light Water. Heavy Water and Paper both returned to solid growth.

•Ecolab's growth engines accelerated, driven by 63% organic sales growth in Global High-Tech and 17% organic sales growth in Life Sciences. Ovivo Electronics and CoolIT also performed exceptionally well and, one year after close, are expected to contribute approximately 2 percentage points to Ecolab's annual organic sales growth.

•Reported operating income margin 17.3%. Organic operating income margin 19.6%, +70 bps. Reported gross margin 44.1%. As expected, adjusted gross margin declined 70 bps due to the impact of M&A; excluding this, organic gross margin was stable as accelerating pricing offset rising commodity costs.

•Reported OI +7%. Adjusted OI growth +14%; organic OI growth accelerated to +11%.

•Reported diluted EPS $1.95. Adjusted diluted EPS $2.18, +5%, including an approximate 10% headwind from CoolIT acquisition-related amortization and financing costs.

2026 OUTLOOK

•2026: Expect adjusted diluted EPS in the $8.10 to $8.20 range, +8% to 9%.

•4Q 2026: Expect adjusted diluted EPS in the $2.13 to $2.23 range, +2% to 7%.

•Outlook reflects strong underlying performance and short-term CoolIT acquisition costs.

			Third Quarter Ended September 30
			Reported																					Adjusted
(unaudited)			Public Currency Rates												%									Public Currency Rates												%
(millions, except per share)			2026						2025						Change									2026						2025						Change
Net sales			$4,694.8						$4,165.0						13			%						$4,694.8						$4,165.0						13			%
Operating income			810.5						760.2						7			%						893.4						786.7						14			%
Net income attributable to Ecolab			551.3						585.0						(6)			%						615.4						590.7						4			%
Diluted earnings per share attributable to Ecolab			$1.95						$2.05						(5)			%						$2.18						$2.07						5			%
			Organic												%
			2026						2025						Change
Net sales			$4,452.3						$4,174.9						7			%
Operating income			872.1						787.3						11			%

1

ST. PAUL, Minn., October 27, 2026

CEO Comment

Christophe Beck, Ecolab’s chairman, president and chief executive officer, said, “Third quarter results marked an inflection point in Ecolab's performance. Exceptional execution drove accelerating sales growth, margin expansion and double-digit adjusted operating income growth. Volume growth accelerated to 2% despite ongoing disruptions in the Middle East. As expected, pricing strengthened to 5% as we leveraged total value delivered to mitigate higher commodity costs while improving customer performance. This disciplined execution allowed us to stabilize our organic gross margin.

“The breadth of our performance makes these results even more encouraging. Growth across our core businesses strengthened, led by accelerating growth in Food & Beverage and Light Water, alongside consistent growth in Institutional & Specialty despite softer market trends. Performance in Paper and Heavy Water also improved, with both businesses returning to solid growth. Across these core businesses, our One Ecolab growth initiative is helping deliver greater customer value and share gains for Ecolab.

“Our growth engines continued to rapidly accelerate, with very strong performance across all businesses. Global High-Tech, our largest growth engine, significantly accelerated, growing 63% organically. Our recent acquisitions in this business, Ovivo Electronics and CoolIT, are also performing exceptionally well. This year, we expect Ovivo Electronics to grow mid-teens and CoolIT to more than double, compared with pre-acquisition sales. Together, these acquisitions are expected to add two percentage points to Ecolab's annual organic sales growth one year after close with increasing margins. Our differentiated water circularity solutions for microelectronics and next-gen liquid cooling technologies for AI data centers position Ecolab extremely well to capitalize on significant long-term growth opportunities.

“We are entering 2027 with momentum and confidence in our ability to deliver another very strong year. We expect organic sales to grow at the upper end of our 5% to 7% target and Ecolab's adjusted operating income margin to reach 20%. Adjusted EPS growth is expected to accelerate in the second half of the year as we lap M&A transaction impacts and operating performance continues to accelerate. This provides a clear path to meet or exceed our long-term adjusted EPS growth target of 12% to 15% in 2027. We have never been better positioned to deliver exceptional value for customers and shareholders.”

2

Third Quarter 2026 Consolidated Results

Ecolab’s third quarter reported sales increased 13% and organic sales growth accelerated to 7%. Ecolab Digital sales increased 34% to $129 million, with strong growth across both enabling hardware subscriptions and software.

Third quarter 2026 reported operating income increased 7% including the impact of special gains and charges. Adjusted operating income increased 14% as strong sales growth and improved productivity more than offset growth-oriented investments in the business and higher commodity costs.

Reported other income in the third quarter of 2026 decreased $4 million. Reported net interest expense increased $70 million reflecting the impact of financing the Ovivo Electronics and CoolIT acquisitions.

The reported income tax rate for the third quarter of 2026 was 20.2% compared with the reported rate of 17.8% in the third quarter of 2025. Excluding special gains and charges and discrete tax items, the adjusted tax rate for the third quarter of 2026 was 20.4% compared with the adjusted tax rate of 20.0% in the third quarter of 2025.

Reported net income decreased 6% versus the prior year. Excluding the impact of special gains and charges and discrete tax items, adjusted net income increased 4% versus the prior year, including an approximate 10% headwind from CoolIT acquisition-related amortization and financing costs.

Reported diluted earnings per share decreased 5% versus the prior year. Adjusted diluted earnings per share increased 5% when compared against the third quarter of 2025, including an approximate 10% headwind from CoolIT acquisition-related amortization and financing costs.

As expected, currency translation was neutral to adjusted diluted earnings per share in the third quarter of 2026.

3

Third Quarter 2026 Segment Review

Global Water
(unaudited)						Third Quarter Ended September 30																											Organic
(millions)						2026									2025									% Change									% Change
Fixed currency
Sales						$2,479.6									$2,061.0									20			%						9			%
Operating income						445.2									357.9									24			%						9			%
Operating income margin						18.0			%						17.4			%
Organic operating income margin						17.5			%						17.4			%
Public currency
Sales						$2,480.8									$2,054.6									21			%
Operating income						444.9									357.4									24			%

The Global Water segment includes Heavy Water, Light Water, High-Tech, Food & Beverage, and Paper

Fixed currency sales grew 20%, driven by an 11% benefit from the acquisitions of Ovivo Electronics and CoolIT, and accelerating organic sales growth of 9%. Global Water's accelerating performance was led by 63% organic growth in Global High-Tech, reflecting robust growth across both microelectronics and data centers. Growth in Food & Beverage accelerated to 8%, driven by attractive new business wins from our One Ecolab growth strategy. Light Water also delivered improved growth, driven by strong gains in manufacturing and institutional markets. Sales in Heavy Water and Paper both grew, reflecting good new business wins, improved pricing and stabilizing global market trends. Organic operating income growth accelerated to 9% as strong pricing and improved productivity more than offset growth-oriented investments in the business and higher commodity costs.

Global Institutional & Specialty
(unaudited)						Third Quarter Ended September 30																											Organic
(millions)						2026									2025									% Change									% Change
Fixed currency
Sales						$1,638.3									$1,596.0									3			%						3			%
Operating income						404.9									376.3									8			%						8			%
Operating income margin						24.7			%						23.6			%
Organic operating income margin						24.7			%						23.6			%
Public currency
Sales						$1,636.5									$1,593.9									3			%
Operating income						404.2									376.3									7			%

4

Fixed currency and organic sales both grew 3%. Institutional delivered steady performance as strong pricing and new business wins more than offset increasingly challenging industry trends, including a mid-single-digit decline in restaurant foot traffic in North America. Specialty’s sales grew mid-single digits, reflecting good share gains across quick service and food retail. Institutional & Specialty continues to significantly outperform market trends, reflecting good demand for Ecolab’s innovative products, digital solutions and service expertise that help customers improve performance, optimize labor, and reduce total costs. Organic operating income growth accelerated to 8% as strong pricing and improved productivity more than offset higher commodity costs and growth-oriented investments in the business.

Global Pest Elimination
(unaudited)						Third Quarter Ended September 30																											Organic
(millions)						2026									2025									% Change									% Change
Fixed currency
Sales						$363.5									$332.7									9			%						8			%
Operating income						73.9									69.5									6			%						7			%
Operating income margin						20.3			%						20.9			%
Organic operating income margin						20.8			%						20.9			%
Public currency
Sales						$363.6									$331.8									10			%
Operating income						73.8									69.4									6			%

Fixed currency sales increased 9%, reflecting organic growth that accelerated to 8% and a 1% benefit from attractive, targeted acquisitions in North America. Strong organic sales growth was led by robust gains in food & beverage, food retail, and restaurants, which continue to benefit from our One Ecolab growth strategy. Organic operating income increased 7% as strong sales growth and improved productivity more than offset growth-oriented investments in the business, including pest intelligence. Pest Elimination's organic operating income margin over the next few quarters is expected to be in the high-teens to 20% range, reflecting growth investments to accelerate deployment of Ecolab's differentiated pest intelligence platform. With more than 800,000 connected pest devices already deployed and significant expansion ahead, this transformation positions the business well to meet or exceed its 22% operating income margin target.

5

Global Life Sciences
(unaudited)						Third Quarter Ended September 30																											Organic
(millions)						2026									2025									% Change									% Change
Fixed currency
Sales						$215.8									$185.2									17			%						17			%
Operating income						50.2									33.8									49			%						49			%
Operating income margin						23.3			%						18.3			%
Organic operating income margin						23.3			%						18.3			%
Public currency
Sales						$213.9									$184.7									16			%
Operating income						49.6									33.6									48			%

Fixed currency and organic sales both grew 17%. This very strong performance was driven by continued robust share gains in bioprocessing, personal care, and purification, along with favorable comparisons to last year's plant maintenance. Organic operating income increased 49% as supply chain efficiencies and strong sales growth more than offset growth-oriented investments in the business and higher commodity costs. Life Sciences’ organic operating income margin in the fourth quarter is expected to remain on its high-teens mid-term trajectory, reflecting very strong underlying performance and continued investments in breakthrough innovation, global capabilities, and capacity to fuel this high-growth, high-margin business.

Corporate
(unaudited)						Third Quarter Ended September 30
(millions)						2026									2025
Public currency
Corporate operating expense
Transformational acquisition amortization						$79.1									$50.0
Special (gains) and charges						82.9									26.5
Total Corporate operating expense (income)						$162.0									$76.5

Third quarter of 2026 corporate segment includes:

•amortization expense for acquired intangible assets of $28 million related to the Nalco merger, $21 million related to the Purolite acquisition, $10 million related to the Ovivo Electronics acquisition, and $20 million related to the CoolIT acquisition.

•special gains and charges were a net charge of $83 million, primarily related to acquisition and integration costs.

Special gains and charges for the third quarter of 2025 impacting operating expense were a net charge of $27 million primarily related to One Ecolab and Ovivo Electronics acquisition costs.

6

Business Outlook

2026

Long-term growth trends in water, hygiene, infection prevention, and digital technologies continue to fuel durable demand for Ecolab’s innovative technologies and services. Strong momentum in Ecolab’s growth engines, which include Global High-Tech, Life Sciences, Pest Elimination and Ecolab Digital, is expected to continue to strengthen Ecolab’s overall performance. Ecolab’s investments in these areas position the company well to capitalize on these attractive long-term high-growth, high-margin opportunities.

In the near-term, the global operating environment remains complex, including constantly evolving geopolitics and international trade policy, which are resulting in rising commodity costs and customer disruptions in the Middle East. Importantly, the company is very well positioned to quickly mitigate the impact of these challenges. Over the past few years, Ecolab’s team has demonstrated it can adjust quickly to deliver high performance in almost any environment, which is why even with these dynamic macroeconomic conditions, Ecolab’s confidence in its performance trajectory remains strong.

As a result, Ecolab expects full year 2026 adjusted diluted earnings per share to be in the $8.10 to $8.20 range, rising 8% to 9% versus last year. This range reflects strong underlying performance and an approximate 6 percentage point short-term headwind to adjusted earnings per share growth from CoolIT acquisition-related amortization and financing costs.

The company currently anticipates quantifiable special charges in 2026 to be approximately $0.83 per share, principally related to restructuring charges and acquisition and integration costs. Other than the special gains and charges noted above, other such amounts are not currently quantifiable.

7

2026 – Fourth Quarter

With continued strong pricing, further volume growth, and the acquisitions of Ovivo Electronics and CoolIT, Ecolab expects reported sales in the fourth quarter of 2026 to increase 12% to 14%. Organic sales growth in the fourth quarter of 2026 is expected to remain strong in the 6% to 7% range. The company anticipates adjusted operating income margin in the fourth quarter to be approximately 19% and an organic operating income margin to be approximately 20%.

As a result, Ecolab expects fourth quarter 2026 adjusted diluted earnings per share in the $2.13 to $2.23 range, rising 2% to 7% compared with adjusted diluted earnings per share of $2.08 a year ago. This range reflects strong underlying performance and an approximate 12 percentage point short-term headwind from CoolIT acquisition-related amortization and financing costs.

The company currently expects quantifiable special charges in the fourth quarter of 2026 to be approximately $0.26 per share, principally related to acquisition and integration costs and restructuring charges. Other than the special gains and charges noted above, other such amounts are not currently quantifiable.

About Ecolab

A trusted partner for millions of customers, Ecolab (NYSE:ECL) is a global leader in water, hygiene and infection prevention solutions and services that protect people and the resources vital to life. For more than a century, Ecolab has advanced innovation by integrating science-based solutions, data-driven insights, AI technology and world-class service. This unique combination enables Ecolab to partner with customers to define what best-in-class looks like and scale it across their operations, helping them achieve peak performance. Today, Ecolab delivers $16 billion in annual sales, employs 48,000 associates and serves customers in more than 170 countries and 40 industries. The company helps protect one-third of the world’s food production and a quarter of the power generated while delivering innovative solutions across food, hospitality, healthcare, data centers, microelectronics and life sciences. As the world’s water company, Ecolab plays an important role in AI growth by supporting the full water needs of advanced computing—from ultra‑pure water for chip manufacturing, to water solutions that support the power behind AI, to direct liquid cooling systems for high‑density computing that improves performance while reducing environmental impact through circular water use. In life sciences, Ecolab delivers end to end solutions that support the development and manufacturing of life-saving drugs, helping customers operate safely and consistently at scale while improving performance and reducing environmental impact. Through its comprehensive approach, Ecolab protects what’s vital, with a goal by 2030 to

8

help protect 2 billion people from infections and conserve enough drinking water for 1 billion people, while continuing to enhance business performance.

Ecolab. Protecting What’s Vital.

www.ecolab.com

Ecolab will host a live webcast to review the third quarter earnings announcement today at 1:00 p.m. Eastern Time. The webcast, along with related materials, will be available to the public on Ecolab's website at www.ecolab.com/investor. A replay of the webcast and related materials will be available at that site.

Cautionary Statements Regarding Forward-Looking Information 

This news release contains certain statements relating to future events and our intentions, beliefs, expectations and predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “we believe,” “we expect,” “estimate,” “project,” “may,” “will,” “intend,” “plan,” “believe,” “target,” “forecast” (including the negative or variations thereof) or similar terminology used in connection with any discussion of future plans, actions or events generally identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding macroeconomic conditions and our financial and business performance and prospects, including sales, earnings, special gains and charges, raw material costs, margins, pricing, currency translation, productivity, investments, acquisitions and new business. These statements are based on the current expectations of management of the company. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this news release. In particular, the ultimate results of any restructuring initiative depend on a number of factors, including the development of final plans, the impact of local regulatory requirements regarding employee terminations, the time necessary to develop and implement the restructuring initiatives and the level of success achieved through such actions in improving competitiveness, efficiency and effectiveness.

Additional risks and uncertainties that may affect operating results and business performance are set forth under Item 1A of our most recent Form 10-K, and our other public filings with the Securities and Exchange Commission (the "SEC"), and include the impact of economic factors such as the worldwide economy, interest rates, foreign currency risk, reduced sales and earnings in our international operations resulting from the weakening of local currencies versus the U.S. dollar, demand uncertainty, supply chain challenges and inflation; the vitality of the markets we serve;

9

exposure to global economic, political and legal risks related to our international operations, including international trade policies, geopolitical instability and the escalation of armed conflicts; our increasing reliance on artificial intelligence technologies in our products, services and operations; information technology infrastructure failures or breaches in data security; difficulty in procuring raw materials or fluctuations in raw material costs; our ability to successfully execute organizational change and management transitions; the occurrence of severe public health outbreaks not limited to COVID-19; our ability to acquire complementary businesses and to effectively integrate such businesses; our ability to execute key business initiatives; our ability to successfully compete with respect to value, innovation and customer support; pressure on operations from consolidation of customers or vendors; restraints on pricing flexibility due to contractual obligations and our ability to meet our contractual commitments; the costs and effects of complying with laws and regulations, including those relating to the environment, climate change standards, and to the manufacture, storage, distribution, sale and use of our products, as well as to the conduct of our business generally, including labor and employment and anti-corruption; potential safety incidents; potential chemical spill or release; potential to incur significant tax liabilities or indemnification liabilities relating to the separation and split-off of our ChampionX business; the occurrence of litigation or claims, including class action lawsuits; the loss or insolvency of a major customer or distributor; repeated or prolonged government and/or business shutdowns or similar events; acts of war or terrorism; natural or man-made disasters; water shortages; severe weather conditions; our commitments, goals, targets, objectives and initiatives related to sustainability, and our public statements and disclosures regarding them; changes in tax laws and unanticipated tax liabilities; potential loss of deferred tax assets; our indebtedness, and any failure to comply with covenants that apply to our indebtedness; potential losses arising from the impairment of goodwill or other assets; and other uncertainties or risks reported from time to time in our reports to the SEC. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this news release may not occur. We caution that undue reliance should not be placed on forward-looking statements, which speak only as of the date made. Ecolab does not undertake, and expressly disclaims, any duty to update any forward-looking statement whether as a result of new information, future events or changes in expectations, except as required by law.

10

Non-GAAP Financial Information

This news release and certain of the accompanying tables include financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. (“GAAP”).

These non-GAAP financial measures may include:

•    fixed currency sales

•    organic sales

•    adjusted gross profit

•    adjusted gross margin

•    adjusted fixed currency gross profit

•    adjusted fixed currency gross margin

•    organic gross profit

•    organic gross margin

•    fixed currency operating income

•    fixed currency operating income margin

•    adjusted operating income

•    adjusted fixed currency operating income

•    adjusted fixed currency operating income margin

•    organic operating income

•    organic operating income margin

•    adjusted interest expense, net

•    adjusted tax rate

•    adjusted net income attributable to Ecolab

•    adjusted diluted earnings per share

We provide these measures as additional information regarding our operating results. We use these non-GAAP measures internally to evaluate our performance and in making financial and operational decisions, including with respect to incentive compensation. We believe that our presentation of these measures provides investors with greater transparency with respect to our results of operations and that these measures are useful for period-to-period comparison of results.

Our non-GAAP financial measures for adjusted gross margin, adjusted gross profit, adjusted operating income, and adjusted interest expense, net exclude the impact of special (gains) and charges, and our non-GAAP financial measures for adjusted tax rate, adjusted net income attributable to Ecolab and adjusted diluted earnings per share further exclude the impact of discrete tax items. Adjusted diluted earnings per share also excludes the impact of the Ovivo Electronics

11

acquisition in the fourth quarter of 2025. We include items within special (gains) and charges and discrete tax items that we believe can significantly affect the period-over-period assessment of operating results and not necessarily reflect costs and/or income associated with historical trends and future results. After tax special (gains) and charges are derived by applying the applicable local jurisdictional tax rate to the corresponding pre-tax special (gains) and charges.

We evaluate the performance of our international operations based on fixed currency rates of foreign exchange, which eliminate the translation impact of exchange rate fluctuations on our international results. Fixed currency amounts included in this release are based on translation into U.S. dollars at the fixed foreign currency exchange rates established by management at the beginning of 2026. We also provide our segment results based on public currency rates for informational purposes.

Our reportable segments do not include the impact of intangible asset amortization from the Nalco, Purolite, Ovivo Electronics and CoolIT Systems transactions or the impact of special (gains) and charges as these are not allocated to the Company’s reportable segments.

Our non-GAAP financial measures for organic sales, organic gross profit, organic gross margin, organic operating income and organic operating income margin are at fixed currency and exclude the impact of special (gains) and charges where applicable, the results of our acquired businesses from the first twelve months post acquisition and the results of divested businesses from the twelve months prior to divestiture.

These non-GAAP financial measures are not in accordance with, or an alternative to, GAAP and may be different from non-GAAP measures used by other companies. Investors should not rely on any single financial measure when evaluating our business. We recommend that investors view these measures in conjunction with the GAAP measures included in this news release. Reconciliations of our non-GAAP measures are included in the following "Supplemental Non-GAAP Reconciliations" and “Supplemental Diluted Earnings per Share Information” tables included in this news release.

We do not provide reconciliations for non-GAAP estimates on a forward-looking basis (including those contained in this news release) when we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of various items that have not yet occurred, are out of our control and/or cannot be reasonably

12

predicted, and that would impact reported earnings per share and the reported tax rate, the most directly comparable forward-looking GAAP financial measures to adjusted earnings per share and the adjusted tax rate. For the same reasons, we are unable to address the probable significance of the unavailable information.

###

(ECL-E)

13

ECOLAB INC.

CONSOLIDATED STATEMENTS OF INCOME

(unaudited)

						Third Quarter Ended																					Nine Months Ended
						September 30												%									September 30												%
(millions, except per share)						2026						2025						Change									2026						2025						Change
Product and equipment sales						$3,697.4						$3,262.6															$10,321.4						$9,321.3
Service and lease sales						997.4						902.4															2,854.9						2,563.9
Net sales						4,694.8						4,165.0						13			%						13,176.3						11,885.2						11			%
Product and equipment cost of sales						2,059.5						1,789.1															5,764.6						5,122.9
Service and lease cost of sales						566.0						510.3															1,625.7						1,459.5
Cost of sales (1)						2,625.5						2,299.4						14			%						7,390.3						6,582.4						12			%
Selling, general and administrative expenses						1,177.4						1,079.2						9			%						3,421.4						3,196.9						7			%
Special (gains) and charges (1)						81.4						26.2															174.2						80.3
Operating income						810.5						760.2						7			%						2,190.4						2,025.6						8			%
Other (income) expense						(8.8)						(12.8)						(31)			%						(26.4)						(38.8)						(32)			%
Interest expense, net (1)						124.8						55.3						126			%						270.6						176.8						53			%
Income before income taxes						694.5						717.7						(3)			%						1,946.2						1,887.6						3			%
Provision for income taxes						140.1						128.0						9			%						416.5						362.9						15			%
Net income including noncontrolling interest						554.4						589.7						(6)			%						1,529.7						1,524.7						-			%
Net income attributable to noncontrolling interest						3.1						4.7															10.9						13.0
Net income attributable to Ecolab						$551.3						$585.0						(6)			%						$1,518.8						$1,511.7						-			%
Earnings attributable to Ecolab per common share
Basic						$1.97						$2.06						(4)			%						$5.40						$5.33						1			%
Diluted						$1.95						$2.05						(5)			%						$5.37						$5.30						1			%
Weighted-average common shares outstanding
Basic						280.4						283.5						(1)			%						281.0						283.5						(1)			%
Diluted						282.1						285.4						(1)			%						282.7						285.3						(1)			%
(1) Cost of sales, Special (gains) and charges and Interest expense, net in the Consolidated Statement of Income above include the following:
						Third Quarter Ended																					Nine Months Ended
						September 30																					September 30
(millions)						2026						2025															2026						2025
Cost of sales
One Ecolab						$1.1						$0.3															$3.8						$7.6
Other restructuring						0.4						-															13.7						-
Subtotal (a)						1.5						0.3															17.5						7.6
Special (gains) and charges
One Ecolab						17.1						17.4															76.2						83.3
Other restructuring						0.6						-															1.1						(12.0)
Acquisition and integration activities						42.2						11.0															60.9						19.8
Sale of global surgical solutions business						-						-															-						2.4
Other						21.5						(2.2)															36.0						(13.2)
Subtotal						81.4						26.2															174.2						80.3
Interest expense, net						-						-															6.6						-
Total special (gains) and charges						$82.9						$26.5															$198.3						$87.9

(a) Special charges of $1.5 million and $0.3 million in the third quarter of 2026 and 2025, respectively, and $17.5 million and $7.6 million for the first nine months of 2026 and 2025, respectively, were recorded in product and equipment cost of sales.

14

ECOLAB INC.

REPORTABLE SEGMENT INFORMATION

(unaudited)

						Third Quarter Ended September 30
						Fixed Currency Rates																					Public Currency Rates
																		%																					%
(millions)						2026						2025						Change									2026						2025						Change
Net Sales
Global Water						$2,479.6						$2,061.0						20			%						$2,480.8						$2,054.6						21			%
Global Institutional & Specialty						1,638.3						1,596.0						3			%						1,636.5						1,593.9						3			%
Global Pest Elimination						363.5						332.7						9			%						363.6						331.8						10			%
Global Life Sciences						215.8						185.2						17			%						213.9						184.7						16			%
Subtotal at fixed currency rates						4,697.2						4,174.9						13			%						4,694.8						4,165.0						13			%
Currency impact						(2.4)						(9.9)						*									-						-						*
Consolidated reported GAAP net sales						$4,694.8						$4,165.0						13			%						$4,694.8						$4,165.0						13			%
Operating Income (loss)
Global Water						$445.2						$357.9						24			%						$444.9						$357.4						24			%
Global Institutional & Specialty						404.9						376.3						8			%						404.2						376.3						7			%
Global Pest Elimination						73.9						69.5						6			%						73.8						69.4						6			%
Global Life Sciences						50.2						33.8						49			%						49.6						33.6						48			%
Corporate						(161.9)						(74.8)						*									(162.0)						(76.5)						*
Subtotal at fixed currency rates						812.3						762.7						7			%						810.5						760.2						7			%
Currency impact						(1.8)						(2.5)						*									-						-						*
Consolidated reported GAAP operating income						$810.5						$760.2						7			%						$810.5						$760.2						7			%
						Nine Months Ended September 30
						Fixed Currency Rates																					Public Currency Rates
																		%																					%
(millions)						2026						2025						Change									2026						2025						Change
Net Sales
Global Water						$6,730.3						$5,975.4						13			%						$6,747.2						$5,858.3						15			%
Global Institutional & Specialty						4,763.4						4,613.3						3			%						4,768.7						4,556.5						5			%
Global Pest Elimination						1,024.1						941.3						9			%						1,025.5						929.8						10			%
Global Life Sciences						637.7						558.0						14			%						634.9						540.6						17			%
Subtotal at fixed currency rates						13,155.5						12,088.0						9			%						13,176.3						11,885.2						11			%
Currency impact						20.8						(202.8)						*									-						-						*
Consolidated reported GAAP net sales						$13,176.3						$11,885.2						11			%						$13,176.3						$11,885.2						11			%
Operating Income (loss)
Global Water						$1,090.7						$966.3						13			%						$1,093.0						$943.4						16			%
Global Institutional & Specialty						1,142.3						1,052.8						9			%						1,142.7						1,041.9						10			%
Global Pest Elimination						196.1						179.7						9			%						196.3						177.7						10			%
Global Life Sciences						146.2						105.0						39			%						145.6						98.2						48			%
Corporate						(386.7)						(234.3)						*									(387.2)						(235.6)						*
Subtotal at fixed currency rates						2,188.6						2,069.5						6			%						2,190.4						2,025.6						8			%
Currency impact						1.8						(43.9)						*									-						-						*
Consolidated reported GAAP operating income						$2,190.4						$2,025.6						8			%						$2,190.4						$2,025.6						8			%

* Not meaningful.

As shown in the “Fixed Currency Rates” tables above, we evaluate the performance of our international operations based on fixed currency exchange rates, which eliminate the impact of exchange rate fluctuations on our international operations. Amounts shown in the “Public Currency Rates” tables above reflect amounts translated at actual public average rates of exchange prevailing during the corresponding period and are provided for informational purposes. The difference between the fixed currency exchange rates and the public currency exchange rates is reported as “Currency impact” in the “Fixed Currency Rates” tables above.

The Corporate segment includes amortization from the Nalco, Purolite, Ovivo Electronics and CoolIT Systems transactions intangible assets. The Corporate segment also includes special (gains) and charges reported on the Consolidated Statement of Income.

15

ECOLAB INC.

CONSOLIDATED BALANCE SHEETS

(unaudited)

						September 30									December 31									September 30
(millions)						2026									2025									2025
Assets
Current assets
Cash and cash equivalents						$722.3									$646.2									$1,955.8
Accounts receivable, net						3,795.4									3,249.4									3,114.1
Inventories						1,764.8									1,490.4									1,534.9
Other current assets						817.4									569.6									501.9
Total current assets						7,099.9									5,955.6									7,106.7
Property, plant and equipment, net						4,595.4									4,276.6									4,062.6
Goodwill						12,687.6									9,227.0									8,113.0
Other intangible assets, net						5,098.5									3,688.5									3,135.5
Operating lease assets						752.0									765.9									767.7
Other assets						874.5									782.7									712.1
Total assets						$31,107.9									$24,696.3									$23,897.6
Liabilities and Equity
Current liabilities
Short-term debt						$1,276.7									$870.4									$16.2
Accounts payable						2,339.5									2,071.0									1,868.4
Compensation and benefits						663.3									721.5									606.0
Income taxes						73.8									134.3									188.0
Other current liabilities						2,026.5									1,737.5									1,509.6
Total current liabilities						6,379.8									5,534.7									4,188.2
Long-term debt						11,915.3									7,365.9									8,052.7
Pension and postretirement benefits						530.9									546.1									597.8
Deferred income taxes						768.2									329.9									176.9
Operating lease liabilities						578.0									596.5									600.8
Other liabilities						481.2									518.7									527.3
Total liabilities						20,653.4									14,891.8									14,143.7
Equity
Common stock						370.4									369.4									369.1
Additional paid-in capital						7,746.5									7,521.3									7,448.5
Retained earnings						13,737.3									12,834.0									12,475.9
Accumulated other comprehensive loss						(1,680.4)									(1,874.3)									(1,903.9)
Treasury stock						(9,749.9)									(9,079.6)									(8,670.6)
Total Ecolab shareholders’ equity						10,423.9									9,770.8									9,719.0
Noncontrolling interest						30.6									33.7									34.9
Total equity						10,454.5									9,804.5									9,753.9
Total liabilities and equity						$31,107.9									$24,696.3									$23,897.6

16

ECOLAB INC.

SUPPLEMENTAL NON-GAAP RECONCILIATIONS

(unaudited)

						Third Quarter Ended																		Nine Months Ended
						September 30																		September 30
(millions, except percent and per share)						2026									2025									2026									2025
Net sales
Reported GAAP net sales						$4,694.8									$4,165.0									$13,176.3									$11,885.2
Effect of foreign currency translation						2.4									9.9									(20.8)									202.8
Non-GAAP fixed currency sales						4,697.2									4,174.9									13,155.5									12,088.0
Effect of acquisitions and divestitures						(244.9)									-									(463.8)									-
Non-GAAP organic sales						$4,452.3									$4,174.9									$12,691.7									$12,088.0
Gross profit
Reported GAAP gross profit						$2,069.3									$1,865.6									$5,786.0									$5,302.8
Special (gains) and charges						1.5									0.3									17.5									7.6
Non-GAAP adjusted gross profit						2,070.8									1,865.9									5,803.5									5,310.4
Effect of foreign currency translation						3.0									3.1									(5.6)									87.7
Non-GAAP adjusted fixed currency gross profit						2,073.8									1,869.0									5,797.9									5,398.1
Effect of acquisition and divestitures						(76.8)									-									(132.7)									-
Non-GAAP organic gross profit						$1,997.0									$1,869.0									$5,665.2									$5,398.1
Gross margin
Reported GAAP gross margin						44.1			%						44.8			%						43.9			%						44.6			%
Non-GAAP adjusted gross margin						44.1			%						44.8			%						44.0			%						44.7			%
Non-GAAP organic gross margin						44.9			%						44.8			%						44.6			%						44.7			%
Operating income
Reported GAAP operating income						$810.5									$760.2									$2,190.4									$2,025.6
Special (gains) and charges at public currency rates						82.9									26.5									191.7									87.9
Non-GAAP adjusted operating income						893.4									786.7									2,382.1									2,113.5
Effect of foreign currency translation						2.1									0.6									(1.6)									41.3
Non-GAAP adjusted fixed currency operating income						895.5									787.3									2,380.5									2,154.8
Effect of acquisitions and divestitures						(23.4)									-									(39.2)									-
Non-GAAP organic operating income						$872.1									$787.3									$2,341.3									$2,154.8
Operating income margin
Reported GAAP operating income margin						17.3			%						18.3			%						16.6			%						17.0			%
Non-GAAP adjusted operating income margin						19.0			%						18.9			%						18.1			%						17.8			%
Non-GAAP organic operating income margin						19.6			%						18.9			%						18.4			%						17.8			%

17

ECOLAB INC.

SUPPLEMENTAL NON-GAAP RECONCILIATIONS

(unaudited)

						Third Quarter Ended																		Nine Months Ended
						September 30																		September 30
(millions, except percent and per share)						2026									2025									2026									2025
Interest expense, net
Reported GAAP interest expense, net						$124.8									$55.3									$270.6									$176.8
Special (gains) and charges						-									-									6.6									-
Non-GAAP adjusted interest expense, net						$124.8									$55.3									$264.0									$176.8
Net Income attributable to Ecolab
Reported GAAP net income attributable to Ecolab						$551.3									$585.0									$1,518.8									$1,511.7
Special (gains) and charges, after tax						65.2									22.0									161.2									67.7
Discrete tax net expense (benefit)						(1.1)									(16.3)									7.5									(21.8)
Non-GAAP adjusted net income attributable to Ecolab						$615.4									$590.7									$1,687.5									$1,557.6
Diluted EPS attributable to Ecolab
Reported GAAP diluted EPS						$1.95									$2.05									$5.37									$5.30
Special (gains) and charges, after tax						0.23									0.08									0.57									0.24
Discrete tax net expense (benefit)						0.00									(0.06)									0.03									(0.08)
Non-GAAP adjusted diluted EPS						$2.18									$2.07									$5.97									$5.46
Provision for Income Taxes
Reported GAAP tax rate						20.2			%						17.8			%						21.4			%						19.2			%
Special gains and charges						0.1									-									(0.2)									0.2
Discrete tax items						0.1									2.2									(0.4)									1.1
Non-GAAP adjusted tax rate						20.4			%						20.0			%						20.8			%						20.5			%

18

ECOLAB INC.

SUPPLEMENTAL NON-GAAP RECONCILIATIONS

(unaudited)

						Third Quarter Ended September 30
						2026																		2025
(millions)						Fixed Currency						Impact of Acquisitions and Divestitures						Organic						Fixed Currency						Impact of Acquisitions and Divestitures						Organic
Net Sales
Global Water						$2,479.6						($240.2)						$2,239.4						$2,061.0						$-						$2,061.0
Global Institutional & Specialty						1,638.3						-						1,638.3						1,596.0						-						1,596.0
Global Pest Elimination						363.5						(4.7)						358.8						332.7						-						332.7
Global Life Sciences						215.8						-						215.8						185.2						-						185.2
Subtotal at fixed currency rates						4,697.2						(244.9)						4,452.3						4,174.9						-						4,174.9
Currency impact						(2.4)																		(9.9)
Consolidated reported GAAP net sales						$4,694.8																		$4,165.0
Operating Income (loss)
Global Water						$445.2						($53.9)						$391.3						$357.9						$-						$357.9
Global Institutional & Specialty						404.9						-						404.9						376.3						-						376.3
Global Pest Elimination						73.9						0.6						74.5						69.5						-						69.5
Global Life Sciences						50.2						-						50.2						33.8						-						33.8
Corporate						(78.7)						29.9						(48.8)						(50.2)						-						(50.2)
Subtotal at fixed currency rates						895.5						(23.4)						872.1						787.3						-						787.3
Special (gains) and charges at fixed currency rates						83.2																		24.6
Reported OI at fixed currency rates						812.3																		762.7
Currency impact						(1.8)																		(2.5)
Consolidated reported GAAP operating income						$810.5																		$760.2
						Nine Months Ended September 30
						2026																		2025
(millions)						Fixed Currency						Impact of Acquisitions and Divestitures						Organic						Fixed Currency						Impact of Acquisitions and Divestitures						Organic
Net Sales
Global Water						$6,730.3						($452.2)						$6,278.1						$5,975.4						$-						$5,975.4
Global Institutional & Specialty						4,763.4						-						4,763.4						4,613.3						-						4,613.3
Global Pest Elimination						1,024.1						(11.6)						1,012.5						941.3						-						941.3
Global Life Sciences						637.7						-						637.7						558.0						-						558.0
Subtotal at fixed currency rates						13,155.5						(463.8)						12,691.7						12,088.0						-						12,088.0
Currency impact						20.8																		(202.8)
Consolidated reported GAAP net sales						$13,176.3																		$11,885.2
Operating Income (loss)
Global Water						$1,090.7						($88.4)						$1,002.3						$966.3						$-						$966.3
Global Institutional & Specialty						1,142.3						-						1,142.3						1,052.8						-						1,052.8
Global Pest Elimination						196.1						1.0						197.1						179.7						-						179.7
Global Life Sciences						146.2						-						146.2						105.0						-						105.0
Corporate						(194.8)						48.2						(146.6)						(149.0)						-						(149.0)
Subtotal at fixed currency rates						2,380.5						(39.2)						2,341.3						2,154.8						-						2,154.8
Special (gains) and charges at fixed currency rates						191.9																		85.3
Reported OI at fixed currency rates						2,188.6																		2,069.5
Currency impact						1.8																		(43.9)
Consolidated reported GAAP operating income						$2,190.4																		$2,025.6

19

ECOLAB INC.

SUPPLEMENTAL DILUTED EARNINGS PER SHARE INFORMATION

(unaudited)

The table below provides a reconciliation of diluted earnings per share ("EPS"), as reported, to the non-GAAP measure of adjusted diluted earnings per share.

						First						Second						Six						Third						Nine						Fourth
						Quarter						Quarter						Months						Quarter						Months						Quarter						Year
						Ended						Ended						Ended						Ended						Ended						Ended						Ended
						Mar. 31						June 30						June 30						Sept. 30						Sept. 30						Dec. 31						Dec. 31
						2025						2025						2025						2025						2025						2025						2025
Diluted earnings per share, as reported (U.S. GAAP)						$1.41						$1.84						$3.25						$2.05						$5.30						$1.98						$7.28
Adjustments:
Special (gains) and charges (1)						0.09						0.07						0.16						0.08						0.24						0.21						0.45
Discrete tax expense (benefits) (2)						0.00						(0.02)						(0.02)						(0.06)						(0.08)						(0.12)						(0.21)
Impact of Ovivo Electronics on diluted EPS						0.00						0.00						0.00						0.00						0.00						0.01						0.01
Adjusted diluted earnings per share (Non-GAAP)						$1.50						$1.89						$3.39						$2.07						$5.46						$2.08						$7.53

						First						Second						Six						Third						Nine						Fourth
						Quarter						Quarter						Months						Quarter						Months						Quarter						Year
						Ended						Ended						Ended						Ended						Ended						Ended						Ended
						Mar. 31						June 30						June 30						Sept. 30						Sept. 30						Dec. 31						Dec. 31
						2026						2026						2026						2026						2026						2026						2026
Diluted earnings per share, as reported (U.S. GAAP)						$1.52						$1.90						$3.42						$1.95						$5.37
Adjustments:
Special (gains) and charges (3)						0.16						0.18						0.34						0.23						0.57
Discrete tax expense (benefits) (4)						0.02						0.01						0.03						0.00						0.03
Adjusted diluted earnings per share (Non-GAAP)						$1.70						$2.09						$3.79						$2.18						$5.97

Per share amounts do not necessarily sum due to changes in shares outstanding and rounding.

(1) Special (gains) and charges for 2025 includes charges of $25.1 million, $20.6 million, $22.0 million and $59.7 million, net of tax, in the first, second, third and fourth quarters, respectively. These charges were primarily related to One Ecolab.

(2) Discrete tax expenses (benefits) for 2025 includes ($0.5) million, ($5.0) million, ($16.3) million and ($35.7) million in the first, second, third and fourth quarters, respectively. These expenses (benefits) are primarily associated with the recognition of deferred tax attributes, share-based compensation excess tax benefits, the filing of federal, state, and foreign tax returns, and other discrete expenses (benefits).

(3) Special (gains) and charges for 2026 includes $45.5 million, $50.5 million and $65.2 million, net of tax, in the first, second and third quarters, respectively. These charges were primarily related to One Ecolab and acquisition and integration costs.

(4) Discrete tax expenses (benefits) for 2026 includes $4.4 million, $4.2 million and ($1.1) million in the first, second and third quarters, respectively. These expenses (benefits) are primarily associated with share-based compensation excess tax benefits and other discrete expenses (benefits).

20

11 Third Quarter 2026 Supplemental October 27, 2026

Cautionary statement Forward-Looking Information This communication contains forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding macroeconomic conditions and our financial and business performance and prospects, including sales, earnings, special (gains) and charges, raw material costs, margins, pricing, currency translation, productivity, investments, acquisitions and new business. These statements are based on the current expectations of management. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. In particular, the ultimate results of any restructuring initiative depend on a number of factors, including the development of final plans, the impact of local regulatory requirements regarding employee terminations, the time necessary to develop and implement the restructuring initiatives and the level of success achieved through such actions in improving competitiveness, efficiency and effectiveness. Additional risks and uncertainties are set forth under Item 1A of our most recent Form 10-K, and our other public filings with the Securities and Exchange Commission (“SEC”), and include the impact of economic factors such as the worldwide economy, interest rates, foreign currency risk, reduced sales and earnings in our international operations resulting from the weakening of local currencies versus the U.S. dollar, demand uncertainty, supply chain challenges and inflation; the vitality of the markets we serve; exposure to global economic, political and legal risks related to our international operations, including international trade policies, geopolitical instability and the escalation of armed conflicts; our increasing reliance on artificial intelligence technologies in our products, services and operations; information technology infrastructure failures or breaches in data security; difficulty in procuring raw materials or fluctuations in raw material costs; our ability to successfully execute organizational change and management transitions; the occurrence of severe public health outbreaks not limited to COVID-19; our ability to acquire complementary businesses and to effectively integrate such businesses; our ability to execute key business initiatives; our ability to successfully compete with respect to value, innovation and customer support; the costs and effect of complying with laws and regulations; the occurrence of litigation or claims, including class action lawsuits; and other uncertainties or risks reported from time to time in our reports to the SEC. In light of these risks, uncertainties and factors, the forward-looking events discussed in this communication may not occur. We caution that undue reliance should not be placed on forward-looking statements, which speak only as of the date made. Ecolab does not undertake, and expressly disclaims, any duty to update any forward-looking statement, except as required by law. Non-GAAP Financial Information This communication includes Company information that does not conform to generally accepted accounting principles (GAAP). Management believes that a presentation of this information is meaningful to investors because it provides insight with respect to ongoing operating results of the Company and allows investors to better evaluate the financial results of the Company. These measures should not be viewed as an alternative to GAAP measures of performance. Furthermore, these measures may not be consistent with similar measures provided by other companies. Reconciliations of our non-GAAP measures included within this presentation are included in the “Non-GAAP Financial Measures” section of this presentation.

STRONG PERFORMANCE Accelerating growth Expanding margins ACCELERATING MOMENTUM Strengthening core Scaling growth engines DURABLE MODEL Balanced portfolio Technology enabled 3 Strong performance, accelerating growth trajectory

Broad-based sales and OI growth acceleration 4 Reported sales +13%; organic sales growth accelerated to 7% OI growth accelerated to a double-digit rate; expect adjusted OI margin to reach 20% in 2027 Reported diluted EPS $1.95; adjusted diluted EPS $2.18, +5% Strong 2026 outlook, driven by accelerating organic sales growth ▪ Growth engines collectively accelerated to deliver double-digit growth, led by 63% organic growth in Global High-Tech. ▪ Core performance strengthened, driven by strong growth in Food & Beverage and Light Water. Paper and Heavy Water both returned to solid growth, driven by good new business wins and stabilizing end-market trends. ▪ Reported OI +7%. Adjusted OI +14%. Organic OI growth accelerated to +11%. ▪ Reported OI margin 17.3%. Organic OI margin 19.6%, +70 bps. ▪ Remain confident in delivering a 20% adjusted OI margin in 2027. ▪ Strong execution drove broad-based acceleration, with reported sales growth of 13% and organic sales growth accelerating to 7%. Volume growth strengthened to 2% despite ongoing Middle East disruptions, while pricing accelerated to 5%. ▪ Adjusted diluted EPS increased 5%, including an approximate 10 percentage point short-term headwind from CoolIT acquisition- related amortization and financing costs. ▪ 2026: Expect adjusted diluted EPS in the $8.10 to $8.20 range, +8% to 9%. ▪ 4Q 2026: Expect adjusted diluted EPS in the $2.13 to $2.23 range, +2% to 7%. Reported sales growth expected to be +12% to 14%. Organic sales growth expected to remain strong in the 6% to 7% range. ▪ These ranges reflect strong underlying performance and a short-term headwind from CoolIT acquisition-related amortization and financing costs.

3Q overview ▪ Reported sales +13%; organic sales accelerated to +7% ◦ Volume accelerated to +2%, as strong new business wins overcame ongoing disruptions in the Middle East. ◦ Pricing strengthened to +5%, reflecting strong pricing execution. ▪ Broad-based organic sales growth acceleration ◦ Water accelerated to +9%, driven by accelerating growth in Global High-Tech, Food & Beverage and Light Water. ◦ Institutional & Specialty +3%, reflecting steady growth in Institutional and strong growth in Specialty. ◦ Pest Elimination +8%, with growth fueled by the One Ecolab enterprise growth strategy and Ecolab’s Pest Intelligence offering. ◦ Life Sciences accelerated to +17%, led by continued strong share gains in bioprocessing. ▪ Reported diluted EPS $1.95 ▪ Adjusted diluted EPS $2.18, +5% ◦ Ecolab's operating performance accelerated, with strong execution driving broad-based strength across the business. ◦ 3Q adjusted EPS growth of 5% included an approximate 10 percentage point short-term headwind from CoolIT acquisition-related amortization and financing costs. Sales EPS 5

Strong 2026 outlook, driven by accelerating sales growth 4Q 2026 ▪ With continued strong pricing, further volume growth, and the acquisitions of Ovivo Electronics and CoolIT Systems, Ecolab expects reported sales in the fourth quarter of 2026 to increase 12% to 14%. Organic sales growth in the fourth quarter of 2026 is expected to remain strong in the 6% to 7% range. The company anticipates adjusted operating income margin in the fourth quarter to be approximately 19% and an organic operating income margin to be approximately 20%. ▪ Ecolab expects fourth quarter 2026 adjusted diluted earnings per share in the $2.13 to $2.23 range, rising 2% to 7% compared to last year. This range reflects strong underlying performance and an approximate 12 percentage point short-term headwind from CoolIT acquisition-related amortization and financing costs. ▪ Long-term growth trends in water, hygiene, infection prevention, and digital technologies continue to fuel durable demand for Ecolab’s innovative technologies and services. Strong momentum in Ecolab’s growth engines, which include Global High-Tech, Life Sciences, Pest Elimination and Ecolab Digital, is expected to continue to strengthen Ecolab’s overall performance. ▪ In the near-term, the global operating environment remains complex, including constantly evolving geopolitics and international trade policy, which are resulting in rising commodity costs and customer disruptions in the Middle East. Importantly, the company is very well positioned to quickly mitigate the impact of these challenges. Over the past few years, Ecolab’s team has demonstrated it can adjust quickly to deliver high performance in almost any environment, which is why even with these dynamic macroeconomic conditions, Ecolab’s confidence in its performance trajectory remains strong. ▪ Ecolab expects full year 2026 adjusted diluted earnings per share to be in the $8.10 to $8.20 range, rising 8% to 9% versus last year. This range reflects strong underlying performance and an approximate 6 percentage point short-term headwind from CoolIT acquisition-related amortization and financing costs. 6

4Q 2026 guidance and long-term targets 7 4Q 2026 Guidance Reported sales growth +12% to 14% Organic sales growth +6% to 7% Adj. OI margin 19% Organic OI margin 20% Adj. tax rate 20% to 21% Full-year Adj. EPS $8.10 to $8.20; +8% to 9% ORGANIC SALES GROWTH +5-7% OI MARGIN +100-150 BPS PER YEAR Long-Term Targets >20% ADJUSTED EPS GROWTH +12-15%

Fixed Rate Organic % Change% Change % Change Global Water Consolidated Food & Beverage 8 % 8 % Volume 2 % Heavy Water 4 % 4 % Pricing 5 % High-Tech 293 % 63 % Organic 7 % Light Water 5 % 5 % Acq./Div. 6 % Paper 6 % 6 % Fixed currency growth 13 % Total Global Water 20 % 9 % Currency impact - % Total 13 % Global Institutional & Specialty Institutional 2 % 2 % Specialty 5 % 5 % Total Global Institutional & Specialty 3 % 3 % Global Pest Elimination 9 % 8 % Global Life Sciences 17 % 17 % 3Q 2026 sales growth detail 8 Amounts in the tables above do not necessarily sum due to rounding

Heavy Water Food & Beverage 9All sales figures are organic unless otherwise noted Global Water Segment Q4: Expect continued solid growth as new business wins and pricing overcome soft industry trends. Sales +4% ▪ Sales growth improved, reflecting good growth in downstream and stable sales in basic industries. ▪ Good growth in downstream was driven by strong performance in North America, which delivered improved pricing and new business wins, overcoming softer performance in the Middle East. ▪ Sales in basic industries stabilized as continued good growth in power, driven by new business wins and strengthening industry demand to support rising power demand from AI, was offset by soft industry trends in primary metals. ▪ The impact of increasing water demand continues to be a critical issue for our customers, a challenge Ecolab is uniquely positioned to help solve. Our innovative circular water solutions, digital technologies, and service expertise deliver leading business outcomes and improved operational performance, while significantly reducing water and energy consumption. Sales +8% Q4: Anticipate continued strong sales growth as pricing and strong new business wins drive growth well above market trends. ▪ Organic sales growth accelerated, continuing to significantly outperform stable market trends. ▪ Growth was strong and broad-based across all major end-markets, driven by robust new business wins and improved pricing. ▪ We continue to benefit from our One Ecolab enterprise selling approach to customers, where we combine our industry-leading cleaning and sanitizing and water treatment capabilities to deliver significant customer value through improved food safety, lower operating costs and water usage optimization.

Light Water High-Tech 10 Global Water Segment Q4: Expect continued very strong sales growth across both microelectronics and data centers. Sales +63% ▪ Fixed currency sales increased 293%, reflecting the acquisition of Ovivo Electronics and CoolIT. Accelerated organic sales growth reflected robust and broad-based new business wins across data centers and microelectronics. ▪ Data Centers: Accelerated and broad-based growth was driven by strong growth with hyperscaler and colocation customers around the world. Ecolab’s cutting-edge, integrated cooling technologies improve performance and reliability, while reducing water and energy use. These mission- critical needs continue to expand rapidly as AI workloads drive unprecedented demand for liquid-cooled infrastructure. ▪ Microelectronics: Continued robust growth was driven by strong new wins with leading semiconductor manufacturers. As next-generation semiconductor production becomes more water intensive and complex, Ecolab’s solutions enable chipmakers to maximize production and quality through unique circular water management, ultrapure water technologies, and a global network of industry experts. Q4: Expect continued good growth, driven by new business wins and pricing. Sales +5% ▪ Improved growth in Light Water was driven by good gains across manufacturing and institutional markets. ▪ Ecolab is growing with new customers due to its industry-leading water management solutions, digital intelligence, and global service expertise to optimize operating costs and reduce water and energy use. All sales figures are organic unless otherwise noted

11 Paper Global Water Segment Sales +6% Q4: Expect continued strong sales growth as new business wins and pricing overcome stable market trends. ▪ As expected, Paper's performance continued to strengthen, with solid growth reflecting good new business wins and stable customer production rates. ▪ Accelerating growth was driven by very strong performance in board, packaging and pulp. ▪ While production rates remain muted, Ecolab’s strong new business wins are driving improved growth for Paper. New business wins continue to be driven by innovation and our global service expertise, which help our customers improve their performance, optimize their costs and reduce their water consumption. All sales figures are organic unless otherwise noted

12 Specialty Institutional Global Institutional & Specialty Segment Sales +2% ▪ Institutional delivered steady performance as strong pricing and new business wins more than offset increasingly challenging industry trends, including a mid-single-digit decline in North America restaurant foot traffic. ◦ Hospitality: Consistent performance reflected continued pricing and new business wins from our One Ecolab growth initiative, which together overcame industry trends that softened further. We continue to see good demand for Ecolab’s innovative products, digital solutions and service expertise that help customers improve performance, optimize labor, and reduce total costs. ◦ Hospitals: Sales grew modestly driven by improved pricing. Our new business efforts are focused on attractive long-term growth opportunities in infection prevention and instrument reprocessing to drive profitable long-term growth. ▪ We remain focused on driving attractive long-term growth by capitalizing on One Ecolab growth opportunities and harnessing digital innovations like DishIQ, KitchenIQ, and AquaIQ. These efforts are delivering enhanced total customer value and generating attractive new business wins. Q4: Expect solid growth as pricing and new business wins overcome soft industry trends. Sales +5% Q4: Expect continued strong growth driven by further new business wins and pricing. ▪ Specialty delivered strong sales growth as robust new business wins and continued pricing more than offset softening industry trends. ◦ Quick Service: Growth continued to outperform softening industry foot traffic trends as demand across the quick service industry for our labor and cost optimization technologies continues to be strong. We are uniquely positioned to continue to drive further share gains with our ongoing product and digital innovation that delivers leading food safety outcomes, labor optimization and lower total operating costs. ◦ Food Retail: Strong sales growth continues to outperform industry trends, driven by robust new business wins and value pricing. Our One Ecolab growth initiative and digital innovation continue to deliver expanding value for customers and attractive share gains for Ecolab. As a trusted food safety partner for retailers, we continue to expand our competitive differentiation by helping our customers protect their brand, improve their customer experience, and optimize operational performance. All sales figures are organic unless otherwise noted

13 Pest Elimination Global Pest Elimination Segment ▪ Accelerated organic growth was led by robust new business in food & beverage, food retail, and restaurants. This strong and broad-based performance continues to benefit from our One Ecolab enterprise selling approach. ▪ To fuel continued strong long-term growth and market share gains, our focus is on rapidly rolling out our digital pest intelligence program to provide customers with enhanced service and value. This leading digital offering, along with our differentiated service expertise, is expanding the total value delivered to customers, extending our competitive advantages, and enhancing our long-term growth opportunities. Q4: Expect continued strong growth, driven by new customer wins as we leverage One Ecolab and our investments in pest intelligence. All sales figures are organic unless otherwise noted Sales +8%

14 Life Sciences Global Life Sciences Segment Q4: Expect strong growth driven by robust new business momentum and progressively improving industry trends. ▪ Accelerated sales growth reflected very strong new business wins that leverage our innovation and investments in new capabilities and capacity. ▪ Performance was driven by continued robust share gains in bioprocessing, personal care, and purification, along with favorable comparisons to last year's plant maintenance. ▪ The long-term growth opportunities for the Life Sciences industry are very attractive. We continue to invest and innovate to further expand our global capabilities and technical expertise across contamination control and purification technologies including bioprocessing to capitalize on this long-term growth opportunity. All sales figures are organic unless otherwise noted Sales +17%

Segment operating income performance ▪ Organic operating income growth accelerated to 9% as strong pricing and improved productivity more than offset growth-oriented investments in the business and higher commodity costs. ▪ Organic operating income increased 7% as strong sales growth and improved productivity more than offset growth-oriented investments in the business, including pest intelligence. ▪ Pest Elimination's organic operating income margin over the next few quarters is expected to be in the high-teens to 20% range. This reflects growth investments to accelerate deployment of Ecolab's differentiated pest intelligence platform, which positions the business well to meet or exceed its 22% operating income margin target. ($ millions – fixed currency, unaudited) 15 ▪ Organic operating income increased 49% as supply chain efficiencies and strong sales growth more than offset growth-oriented investments in the business and higher commodity costs. ▪ Life Sciences’ organic operating income margin in the fourth quarter is expected to remain on its high-teens mid-term trajectory, reflecting very strong underlying performance and continued investments in breakthrough innovation, global capabilities, and capacity to fuel this high-growth, high- margin business. ▪ Organic operating income growth accelerated to 8% as strong pricing and improved productivity more than offset higher commodity costs and growth- oriented investments in the business. Global Water 3Q 2026 3Q 2025 Change Operating income $445.2 $357.9 24% Operating income margin 18.0% 17.4% 60 bps Organic operating income $391.3 $357.9 9% Organic operating income margin 17.5% 17.4% 10 bps Global Institutional & Specialty 3Q 2026 3Q 2025 Change Operating income $404.9 $376.3 8% Operating income margin 24.7% 23.6% 110 bps Organic operating income $404.9 $376.3 8% Organic operating income margin 24.7% 23.6% 110 bps Global Pest Elimination 3Q 2026 3Q 2025 Change Operating income $73.9 $69.5 6% Operating income margin 20.3% 20.9% -60 bps Organic operating income $74.5 $69.5 7% Organic operating income margin 20.8% 20.9% -10 bps Global Life Sciences 3Q 2026 3Q 2025 Change Operating income $50.2 $33.8 49% Operating income margin 23.3% 18.3% 500 bps Organic operating income $50.2 $33.8 49% Organic operating income margin 23.3% 18.3% 500 bps

Consolidated margin performance ▪ As expected, gross margin declined due to the impact of recent acquisitions. Organic gross margin was stable as accelerating pricing offset higher commodity costs. ▪ SG&A to sales improved as good productivity gains and the favorable impact of recent acquisitions more than offset growth- oriented investments in the business. ▪ Organic operating income margin expanded as strong sales growth and improved productivity more than offset growth-oriented investments in the business and higher commodity costs. Gross Margin SG&A Operating Margin 16 $ millions, unaudited 3Q 2026 3Q 2025 Change Gross profit $2,069.3 $1,865.6 11% Gross margin 44.1% 44.8% -70 bps Adjusted gross profit $2,070.8 $1,865.9 11% Adjusted gross margin 44.1% 44.8% -70 bps SG&A $1,177.4 $1,079.2 9% % of Sales 25.1% 25.9% -80 bps Reported operating income $810.5 $760.2 7% Reported operating income margin 17.3% 18.3% -100 bps Adjusted operating income $893.4 $786.7 14% Adjusted operating income margin 19.0% 18.9% 10 bps Organic operating income $872.1 $787.3 11% Organic operating income margin 19.6% 18.9% 70 bps

Balance sheet / cash flow * EBITDA and Adjusted EBITDA are non-GAAP measures. EBITDA is defined as net income including non-controlling interest with the sum of provision for income taxes, net interest expense, depreciation and amortization added back. Adjusted EBITDA further adds back special (gains) and charges impacting EBITDA. The inputs to EBITDA reflect the trailing twelve months of activity for the period presented. See “Non-GAAP Financial Measures” section of this presentation for corresponding reconciliations. 17 Summary Balance Sheet September 30 September 30 (millions, unaudited) 2026 2025 (millions, unaudited) 2026 2025 Cash and cash eq. $722.3 $1,955.8 Short-term debt $1,276.7 $16.2 Accounts receivable, net 3,795.4 3,114.1 Accounts payable 2,339.5 1,868.4 Inventories 1,764.8 1,534.9 Other current liabilities 2,763.6 2,303.6 Other current assets 817.4 501.9 Long-term debt 11,915.3 8,052.7 PP&E, net 4,595.4 4,062.6 Pension/Postretirement 530.9 597.8 Goodwill and intangibles 17,786.1 11,248.5 Other liabilities 1,827.4 1,305.0 Other assets 1,626.5 1,479.8 Total equity 10,454.5 9,753.9 Total assets $31,107.9 $23,897.6 Total liab. and equity $31,107.9 $23,897.6 Selected Cash Flow items Selected Balance Sheet measures Nine Months Ended September 30 September 30 (millions, unaudited) 2026 2025 (unaudited) 2026 2025 Cash from op. activities $1,939.1 $1,862.5 Total Debt/Total Capital 55.8 % 45.3 % Depreciation 545.4 493.8 Net Debt/Total Capital 54.4 % 38.5 % Amortization 273.9 226.5 Net Debt/EBITDA* 3.1 1.7 Capital expenditures 902.0 716.2 Net Debt/Adjusted EBITDA* 2.9 1.6

Non-GAAP financial measures 18 Third Quarter Ended September 30 (millions, except percent and per share) 2026 2025 Net sales Reported GAAP net sales $4,694.8 $4,165.0 Effect of foreign currency translation 2.4 9.9 Non-GAAP fixed currency sales 4,697.2 4,174.9 Effect of acquisitions and divestitures (244.9) - Non-GAAP organic sales $4,452.3 $4,174.9 Gross profit Reported GAAP gross profit $2,069.3 $1,865.6 Special (gains) and charges 1.5 0.3 Non-GAAP adjusted gross profit 2,070.8 1,865.9 Effect of foreign currency translation 3.0 3.1 Non-GAAP adjusted fixed currency gross profit 2,073.8 1,869.0 Effect of acquisition and divestitures (76.8) - Non-GAAP organic gross profit $1,997.0 $1,869.0 Gross margin Reported GAAP gross margin 44.1 % 44.8 % Non-GAAP adjusted gross margin 44.1 % 44.8 % Non-GAAP organic gross margin 44.9 % 44.8 %

Non-GAAP financial measures 19 Third Quarter Ended September 30 (millions, except percent and per share) 2026 2025 Operating income Reported GAAP operating income $810.5 $760.2 Special (gains) and charges at public currency rates 82.9 26.5 Non-GAAP adjusted operating income 893.4 786.7 Effect of foreign currency translation 2.1 0.6 Non-GAAP adjusted fixed currency operating income 895.5 787.3 Effect of acquisitions and divestitures (23.4) - Non-GAAP organic operating income $872.1 $787.3 Operating income margin Reported GAAP operating income margin 17.3 % 18.3 % Non-GAAP adjusted operating income margin 19.0 % 18.9 % Non-GAAP organic operating income margin 19.6 % 18.9 % Net Income attributable to Ecolab Reported GAAP net income attributable to Ecolab $551.3 $585.0 Special (gains) and charges, after tax 65.2 22.0 Discrete tax net expense (benefit) (1.1) (16.3) Non-GAAP adjusted net income attributable to Ecolab $615.4 $590.7 Diluted EPS attributable to Ecolab Reported GAAP diluted EPS $1.95 $2.05 Special (gains) and charges, after tax 0.23 0.08 Discrete tax net expense (benefit) - (0.06) Non-GAAP adjusted diluted EPS $2.18 $2.07 Provision for Income Taxes Reported GAAP tax rate 20.2 % 17.8 % Special gains and charges 0.1 - Discrete tax items 0.1 2.2 Non-GAAP adjusted tax rate 20.4 % 20.0 %

Non-GAAP financial measures 20 Third Quarter Ended (millions) September 30 2026 2025 EBITDA (trailing twelve months ended) Net income including non-controlling interest $2,098.3 $2,004.2 Provision for income taxes 508.2 417.7 Interest expense, net 334.9 238.5 Depreciation 724.2 655.0 Amortization 351.2 300.8 EBITDA $4,016.8 $3,616.2 Special (gains) and charges impacting EBITDA 266.4 193.3 Impact of Ovivo Electronics on EBITDA 0.5 - Adjusted EBITDA $4,283.7 $3,809.5

Non-GAAP financial measures 21 Third Quarter Ended September 30 2026 2025 (millions) Fixed Currency Impact of Acquisitions and Divestitures Organic Fixed Currency Impact of Acquisitions and Divestitures Organic Net Sales Global Water $2,479.6 ($240.2) $2,239.4 $2,061.0 $- $2,061.0 Global Institutional & Specialty 1,638.3 - 1,638.3 1,596.0 - 1,596.0 Global Pest Elimination 363.5 (4.7) 358.8 332.7 - 332.7 Global Life Sciences 215.8 - 215.8 185.2 - 185.2 Subtotal at fixed currency rates 4,697.2 (244.9) 4,452.3 4,174.9 - 4,174.9 Currency impact (2.4) (9.9) Consolidated reported GAAP net sales $4,694.8 $4,165.0 Operating Income (loss) Global Water $445.2 ($53.9) $391.3 $357.9 $- $357.9 Global Institutional & Specialty 404.9 - 404.9 376.3 - 376.3 Global Pest Elimination 73.9 0.6 74.5 69.5 - 69.5 Global Life Sciences 50.2 - 50.2 33.8 - 33.8 Corporate (78.7) 29.9 (48.8) (50.2) - (50.2) Subtotal at fixed currency rates 895.5 (23.4) 872.1 787.3 - 787.3 Special (gains) and charges at fixed currency rates 83.2 24.6 Reported OI at fixed currency rates 812.3 762.7 Currency impact (1.8) (2.5) Consolidated reported GAAP operating income $810.5 $760.2

22 Non-GAAP Financial Information: This communication and certain of the accompanying tables include financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. (“GAAP”). These non-GAAP financial measures may include: ◦ fixed currency sales ◦ organic sales ◦ adjusted gross profit ◦ adjusted gross margin ◦ adjusted fixed currency gross profit ◦ adjusted fixed currency gross margin ◦ organic gross profit ◦ organic gross margin ◦ fixed currency operating income ◦ fixed currency operating income margin ◦ adjusted operating income ◦ adjusted fixed currency operating income ◦ adjusted fixed currency operating income margin ◦ organic operating income ◦ organic operating income margin ◦ adjusted tax rate ◦ adjusted net income attributable to Ecolab ◦ adjusted diluted earnings per share ◦ EBITDA ◦ Adjusted EBITDA We provide these measures as additional information regarding our operating results. We use these non-GAAP measures internally to evaluate our performance and in making financial and operational decisions, including with respect to incentive compensation. We believe that our presentation of these measures provides investors with greater transparency with respect to our results of operations and that these measures are useful for period-to-period comparison of results. Non-GAAP financial information

23 Non-GAAP Financial Information (Continued): Our non-GAAP financial measures for adjusted gross margin, adjusted gross profit and adjusted operating income exclude the impact of special (gains) and charges, and our non-GAAP financial measures for adjusted tax rate, adjusted net income attributable to Ecolab and adjusted diluted earnings per share further exclude the impact of discrete tax items. We include items within special (gains) and charges and discrete tax items that we believe can significantly affect the period-over-period assessment of operating results and not necessarily reflect costs and/or income associated with historical trends and future results. After tax special (gains) and charges are derived by applying the applicable local jurisdictional tax rate to the corresponding pre-tax special (gains) and charges. EBITDA is defined as net income including non-controlling interest with the sum of provision for income taxes, net interest expense, depreciation and amortization added back. Adjusted EBITDA further adds back special (gains) and charges impacting EBITDA. EBITDA and adjusted EBITDA are used in our net debt to EBITDA and net debt to adjusted EBITDA ratios, which we view as important indicators of the operational and financial health of our organization. We evaluate the performance of our international operations based on fixed currency rates of foreign exchange, which eliminate the translation impact of exchange rate fluctuations on our international results. Fixed currency amounts included in this presentation are based on translation into U.S. dollars at the fixed foreign currency exchange rates established by management at the beginning of 2026. We also provide our segment results based on public currency rates for informational purposes. Our reportable segments do not include the impact of intangible asset amortization from the Nalco, Purolite, Ovivo Electronics and CoolIT Systems transactions or the impact of special (gains) and charges as these are not allocated to the Company’s reportable segments. Our non-GAAP financial measures for organic sales, organic gross profit, organic gross profit margin, organic operating income and organic operating income margin are at fixed currency and exclude the impact of special (gains) and charges where applicable, the results of our acquired businesses from the first twelve months post acquisition and the results of divested businesses from the twelve months prior to divestiture. These non-GAAP financial measures are not in accordance with, or an alternative to, GAAP and may be different from non-GAAP measures used by other companies. Investors should not rely on any single financial measure when evaluating our business. We recommend that investors view these measures in conjunction with the GAAP measures included in this presentation. Reconciliations of our non-GAAP measures are included in the following “Non-GAAP Financial Measures” tables of this communication. We do not provide reconciliations for non-GAAP estimates on a forward-looking basis (including those contained in this presentation) when we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of various items that have not yet occurred, are out of our control and/or cannot be reasonably predicted, and that would impact reported earnings per share and the reported tax rate, the most directly comparable forward-looking GAAP financial measures to adjusted earnings per share and the adjusted tax rate. For the same reasons, we are unable to address the probable significance of the unavailable information. Non-GAAP financial information (cont.)

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