H.B. Fuller 8K Other Events | FUL 4 Mar 20

Exhibit 99.1

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)

Fiscal year ended November 30, 2019

In thousands (unaudited)

	Quarter Ended March 2, 2019			Quarter Ended June 1, 2019			Quarter Ended August 31, 2019			Quarter Ended November 30, 2019			Year Ended November 30, 2019
Net Revenue
Hygiene, Health and Consumable Adhesives	$	319,854		$	337,892		$	328,420		$	342,120		$	1,328,286
Engineering Adhesives	$	264,372		$	303,922		$	286,716		$	303,393		$	1,158,403
Construction Adhesives	$	82,790		$	111,791		$	108,406		$	93,593		$	396,580
Corporate Unallocated	$	5,919		$	5,978		$	1,834		$	-		$	13,731
Total H.B. Fuller	$	672,935		$	759,583		$	725,376		$	739,106		$	2,897,000

Segment Operating Income
Hygiene, Health and Consumable Adhesives	$	20,890		$	32,048		$	32,638		$	30,385		$	115,961
Engineering Adhesives	$	21,986		$	39,313		$	36,847		$	38,153		$	136,299
Construction Adhesives	$	(1,656	)	$	8,252		$	7,650		$	2,411		$	16,657
Corporate Unallocated	$	(7,008	)	$	(7,233	)	$	(10,429	)	$	(18,253	)	$	(42,923	)
Total H.B. Fuller	$	34,212		$	72,380		$	66,706		$	52,696		$	225,994

Adjusted EBITDA¹
Hygiene, Health and Consumable Adhesives	$	33,709		$	44,845		$	45,146		$	42,985		$	166,685
Engineering Adhesives	$	37,574		$	54,795		$	52,152		$	53,332		$	197,853
Construction Adhesives	$	8,427		$	18,272		$	17,486		$	12,329		$	56,514
Corporate Unallocated	$	3,141		$	3,280		$	1,339		$	3,532		$	11,293
Total H.B. Fuller	$	82,851		$	121,192		$	116,123		$	112,178		$	432,345

Adjusted EBITDA Margin¹
Hygiene, Health and Consumable Adhesives		10.5%			13.3%			13.7%			12.6%			12.5%
Engineering Adhesives		14.2%			18.0%			18.2%			17.6%			17.1%
Construction Adhesives		10.2%			16.3%			16.1%			13.2%			14.3%
Corporate Unallocated		NMP			NMP			NMP			NMP			NMP
Total H.B. Fuller		12.3%			16.0%			16.0%			15.2%			14.9%

¹ Adjusted net income attributable to H.B. Fuller, adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures. Adjusted net income attributable to H.B. Fuller is defined as net income before specific adjustments. Adjusted EBITDA is defined as net income before interest, income taxes, depreciation, amortization and specific adjustments. Adjusted EBITDA margin is defined as adjusted EBITDA divided by net revenue. The following tables provide a reconciliation of adjusted net income attributable to H.B. Fuller, adjusted EBITDA and adjusted EBITDA margin to net income attributable to H.B. Fuller, the most directly comparable financial measure determined and reported in accordance with U.S. GAAP.

NMP = non-meaningful percentage

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)

Regulation G Reconciliation

In thousands (unaudited)

	Hygiene, Health and		Engineering		Construction				Corporate			H.B. Fuller
	Consumable Adhesives		Adhesives		Adhesives		Total		Unallocated			Consolidated

Year Ended November 30, 2019
Net income attributable to H.B. Fuller	$	121,237	$	140,678	$	20,663	$	282,578	$	(151,761	)	$	130,817

Adjustments:
Acquisition project costs		-		-		-		-		2,204			2,204
Organizational realignment		-		-		-		-		7,647			7,647
Royal restructuring and integration		-		-		-		-		787			787
Tax reform		-		-		-		-		132			132
Project ONE		-		-		-		-		4,115			4,115
Other		-		-		-		-		7,964			7,964

Adjusted net income attributable to H.B. Fuller¹		121,237		140,678		20,663		282,578		(128,912	)		153,666

Add:
Interest expense		-		-		-		-		103,287			103,287
Interest income		-		-		-		-		(12,178	)		(12,178	)
Income taxes		-		-		-		-		47,465			47,465
Depreciation and amortization expense		45,448		57,175		35,851		138,474		1,631			140,105
Adjusted EBITDA¹	$	166,685	$	197,853	$	56,514	$	421,052	$	11,293		$	432,345

Revenue	$	1,328,286	$	1,158,403	$	396,580	$	2,883,269	$	13,731		$	2,897,000
Adjusted EBITDA Margin¹		12.5%		17.1%		14.3%		14.6%		NMP			14.9%

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)

Regulation G Reconciliation

In thousands (unaudited)

	Hygiene, Health and		Engineering		Construction					Corporate			H.B. Fuller
	Consumable Adhesives		Adhesives		Adhesives			Total		Unallocated			Consolidated

Quarter Ended March 2, 2019
Net income attributable to H.B. Fuller	$	22,236	$	23,065	$	(669	)	$	44,632	$	(32,388	)	$	12,244

Adjustments:
Acquisition project costs		-		-		-			-		84			84
Organizational realignment		-		-		-			-		350			350
Royal restructuring and integration		-		-		-			-		4,365			4,365
Tax reform		-		-		-			-		55			55
Project ONE		-		-		-			-		813			813
Other		-		-		-			-		(392	)		(392	)

Adjusted net income attributable to H.B. Fuller¹		22,236		23,065		(669	)		44,632		(27,113	)		17,519

Add:
Interest expense		-		-		-			-		26,807			26,807
Interest income		-		-		-			-		(3,053	)		(3,053	)
Income taxes		-		-		-			-		6,050			6,050
Depreciation and amortization expense		11,473		14,509		9,096			35,078		450			35,528
Adjusted EBITDA¹	$	33,709	$	37,574	$	8,427		$	79,710	$	3,141		$	82,851

Revenue	$	319,854	$	264,372	$	82,790		$	667,016	$	5,919		$	672,935
Adjusted EBITDA Margin¹		10.5%		14.2%		10.2%			12.0%		NMP			12.3%

	Hygiene, Health and		Engineering		Construction				Corporate			H.B. Fuller
	Consumable Adhesives		Adhesives		Adhesives		Total		Unallocated			Consolidated

Quarter Ended June 1, 2019
Net income attributable to H.B. Fuller	$	33,397	$	40,397	$	9,236	$	83,030	$	(46,389	)	$	36,641

Adjustments:
Acquisition project costs		-		-		-		-		539			539
Organizational realignment		-		-		-		-		1,444			1,444
Royal restructuring and integration		-		-		-		-		4,761			4,761
Tax reform		-		-		-		-		-			-
Project ONE		-		-		-		-		1,236			1,236
Other		-		-		-		-		1,015			1,015

Adjusted net income attributable to H.B. Fuller¹		33,397		40,397		9,236		83,030		(37,394	)		45,636

Add:
Interest expense		-		-		-		-		26,940			26,940
Interest income		-		-		-		-		(3,023	)		(3,023	)
Income taxes		-		-		-		-		16,371			16,371
Depreciation and amortization expense		11,448		14,398		9,036		34,882		386			35,268
Adjusted EBITDA¹	$	44,845	$	54,795	$	18,272	$	117,912	$	3,280		$	121,192

Revenue	$	337,892	$	303,922	$	111,791	$	753,605	$	5,978		$	759,583
Adjusted EBITDA Margin¹		13.3%		18.0%		16.3%		15.6%		NMP			16.0%

H.B. Fuller Segment Financial Information (Restated for Segment Realignment)

Regulation G Reconciliation

In thousands (unaudited)

	Hygiene, Health and		Engineering		Construction				Corporate			H.B. Fuller
	Consumable Adhesives		Adhesives		Adhesives		Total		Unallocated			Consolidated

Quarter Ended August 31, 2019
Net income attributable to H.B. Fuller	$	33,934	$	38,014	$	8,662	$	80,610	$	(30,892	)	$	49,718

Adjustments:
Acquisition project costs		-		-		-		-		1,535			1,535
Organizational realignment		-		-		-		-		(684	)		(684	)
Royal restructuring and integration		-		-		-		-		(9,132	)		(9,132	)
Tax reform		-		-		-		-		-			-
Project ONE		-		-		-		-		1,130			1,130
Other		-		-		-		-		1,660			1,660

Adjusted net income attributable to H.B. Fuller¹		33,934		38,014		8,662		80,610		(36,383	)		44,227

Add:
Interest expense		-		-		-		-		25,607			25,607
Interest income		-		-		-		-		(3,115	)		(3,115	)
Income taxes		-		-		-		-		14,798			14,798
Depreciation and amortization expense		11,212		14,138		8,824		34,174		432			34,606
Adjusted EBITDA¹	$	45,146	$	52,152	$	17,486	$	114,784	$	1,339		$	116,123

Revenue	$	328,420	$	286,716	$	108,406	$	723,542	$	1,834		$	725,376
Adjusted EBITDA Margin¹		13.7%		18.2%		16.1%		15.9%		NMP			16.0%

	Hygiene, Health and		Engineering		Construction				Corporate			H.B. Fuller
	Consumable Adhesives		Adhesives		Adhesives		Total		Unallocated			Consolidated

Quarter Ended November 30, 2019
Net income attributable to H.B. Fuller	$	31,670	$	39,202	$	3,435	$	74,307	$	(42,093	)	$	32,214

Adjustments:
Acquisition project costs		-		-		-		-		45			45
Organizational realignment		-		-		-		-		6,535			6,535
Royal restructuring and integration		-		-		-		-		1,957			1,957
Tax reform		-		-		-		-		76			76
Project ONE		-		-		-		-		937			937
Other		-		-		-		-		4,520			4,520

Adjusted net income attributable to H.B. Fuller¹		31,670		39,202		3,435		74,307		(28,023	)		46,284

Add:
Interest expense		-		-		-		-		23,933			23,933
Interest income		-		-		-		-		(2,987	)		(2,987	)
Income taxes		-		-		-		-		10,246			10,246
Depreciation and amortization expense		11,315		14,130		8,894		34,339		363			34,702
Adjusted EBITDA¹	$	42,985	$	53,332	$	12,329	$	108,646	$	3,532		$	112,178

Revenue	$	342,120	$	303,393	$	93,593	$	739,106	$	-		$	739,106
Adjusted EBITDA Margin¹		12.6%		17.6%		13.2%		14.7%		NMP			15.2%

H.B. Fuller (FUL) 8-KOther Events