Why LECO? Reasons to invest in Lincoln Electric #1 global leader Capitalizing on growth opportunities Proven financial efficiency and operational excellence Driving higher returns with the “2020 Vision & Strategy” Founded in 1895 and recognized as The Welding Experts®, our Company is renowned for providing cutting-edge solutions to customers and pioneering new technologies in our industry. For over 120 years, we have achieved success through a balanced approach that focuses on: Customers: with market-leading solutions and superior technical application expertise, Employees: with an incentive- and performance-driven culture, and Shareholders: with above market returns. We distinguish ourselves through: Strong brands known for quality, durability and performance Leading #1 or #2 position in key end markets and geographic regions Comprehensive portfolio of solutions for diversified end markets and applications Industry’s largest team of sector specialists, application engineers and technical salesforce Commitment to operational excellence and continuous improvement with a focus on: net income growth, cash flow generation, ROIC, a solid balance sheet, and increasing returns to shareholders Download our company fact sheet to learn more 2020 Vision and Strategy: Driving Stronger Results In 2010, the Company mobilized the organization around a ten-year “2020 Vision and Strategy.” The strategy focuses on expanding Lincoln Electric’s position as a valued, technical-solutions provider by accelerating innovation, achieving operational excellence and best-in-class financial performance through an economic cycle. Key strategic initiatives include profitable growth (organic and through a disciplined acquisition strategy), richening our portfolio mix in equipment systems, automation, and alloy consumables, as well as leveraging continuous improvement initiatives to improve profitability, operating working capital and returns. In 2018, the organization continued to advance its performance and either sustained or improved results in three of the four key “2020 Vision and Strategy” financial metrics: Compound annual growth rate (CAGR) of 10% in net sales from 2009 to 2020 Average operating income margin of 15% through a complete economic cycle Average 15% return on invested capital through a complete economic cycle Operating working capital of 15% of net sales by 2020 The following diagram illustrates our 2020 financial progress through 2018 against our established goals: Our 2020 program also focuses on making a measurable impact on safety performance and our carbon footprint. Our 2020 Environmental, Health and Safety goals and performance from 2011 through 2018 reflects solid performance that exceeds most of our original goals: SAFE HARBOR DISCLAIMER The information on The Lincoln Electric Company’s investor website may contain forward-looking statements, estimates or projections based on expectations as of the original date of those materials. Those statements, estimates and projections are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed in our reports filed with the SEC, including Forms 8-K, 10-Q and 10-K. Presented information may also discuss non-public financial and statistical information and non-GAAP financial measures. Discussion of non-public financial and statistical information and presentation of comparable GAAP measures and quantitative reconciliations can be found under the Quarterly Results section of this website. All information content was current only as of the date originally presented. We do not update or delete outdated information contained in website materials, and we disclaim any obligation to do so. All website content is the property of The Lincoln Electric Company and any use, dissemination or republication is prohibited without written consent.