Cautionary and Forward-Looking Statements Copyright 2010. Zep Inc. - All rights reserved. 2 In connection with the acquisition of Amrep, Inc., Zep Inc. has performed due diligence procedures on and reviewed the financial results of Amrep, Inc. contained within this presentation and other related oral and written releases of information. The financial results of Amrep, Inc. discussed herein represent results of Amrep, Inc. for the twelve month period beginning December 1, 2008 and ended November 30, 2009. Amrep, Inc. has operated as a privately held company with no interim audit or review requirements. Moreover, Amrep, Inc. has a December 31 fiscal year end; therefore, the financial results of Amrep, Inc. discussed herein and in other oral and written releases of information have been subjected to neither audit nor review procedures conducted by an independent audit firm, and pre-acquisition due diligence procedures must not be considered a substitute for such. Because substantially all of the twelve month period reflected in the results presented herein has been neither audited by nor subject to the review of an independent audit firm, the financial results presented herein are preliminary and subject to adjustment. Therefore, this financial information should be considered preliminary as actual historical financial results of Amrep, Inc. could differ materially from these disclosures. Zep Inc. intends to file the financial statements of Amrep, Inc. required by Regulation S-X and Form 8-K as they become available for filing with the Securities and Exchange Commission. These financial statements will not include a trailing twelve month period ended November 30, 2009. This presentation also contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results, expectations, or outcomes to differ materially from the historical experience of Amrep, Inc. as well as Zep Inc.’s present expectations or projections. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, any projections of financial information; any statements about historical results that may suggest trends; any statements of the plans, strategies, synergies, and objectives of management for future operations; any statements of expectation or belief regarding future events, potential markets or market size, technology developments, or enforceability of intellectual property rights; and any statements of assumptions underlying any of the items mentioned. The statements contained herein or implied hereby are based on unaudited estimates not yet formally reviewed by accountants and information available to us at the time of this presentation and are not guarantees of future performance. Actual results could differ materially from our current expectations as a result of many factors, including but not limited to: underlying assumptions or expectations related to customer and supplier relationships and prices; competition; ability to realize anticipated benefits from the acquisition and other initiatives and the timing of benefits to be derived therefrom; market demand; litigation and other contingent liabilities, such as environmental matters; and economic, political, governmental, technological, and natural disaster related factors affecting the operations of Zep Inc. and/or Amrep, Inc., tax rate, markets, products, services, and prices, among others. For a description of additional risks and uncertainties that could affect these statements, please refer to Zep Inc.’s filings with the Securities and Exchange Commission, including its fiscal year 2009 Annual Report on Form 10–K. The discussion under the heading “Risk Factors” in Part I, Item 1A of Zep’s fiscal year 2009 Form 10-K is specifically incorporated by reference into this presentation. We assume no obligation and do not intend to update these forward-looking statements. | 
