SELECTED FINANCIAL HIGHLIGHTS ENERGIZER AT A GLANCE Copyright © 2000 Eveready Battery Company, Inc. Energizer, Energizer e 2 , Eveready, E-SNAP, Energizer Bunny, Arc White and Energizer Battery Character are trademarks or registered trademarks  of Eveready Battery Company, Inc. All rights reserved. Energizer Holdings, Inc. is the largest publicly traded primary battery/flashlight company in the world with  two of the most recognized brands in Energizer ® and Eveready ® . Energizer is traded on the New York Stock Exchange under the ENR symbol. *** The pro forma diluted weighted shares outstanding is based on the weighted-average number of Ralston common shares outstanding prior to the spin-off (adjusted  for the distribution of one share of Energizer stock for each three shares of Ralston stock) and the diluted weighted-average number of shares of Energizer stock outstanding from April 1, 2000 to September 30, 2000. * Energizer Holdings, Inc. was spun off from Ralston Purina Company (Ralston) on April 1, 2000. The pro forma FY 2000 financial data is presented assuming the  spin-off had occurred as of October 1, 1999. The pro forma FY 1999 financial data is presented assuming the spin-off had occurred as of October 1, 1998. ** The historical financial information for fiscal years 2000 and 1999 reflects periods during which Energizer was operated as a business segment of Ralston. (millions) (diluted earnings per share) YEAR ENDED SEPTEMBER 30, YEAR ENDED SEPTEMBER 30, 2000 1999 2000 1999 Pro Forma Net Earnings, Excluding Unusuals * $163.1 $125.2 $ 1.69 $ 1.22 Costs related to spin-off (3.3) – (0.04) – Loss on disposition of Spanish affiliate (15.7) – (0.16) – Restructuring charges – (8.3) – (0.08) Pro Forma Net Earnings * 144.1 116.9 1.49 1.14 Incremental interest expense, net of tax 10.0 21.2 0.11 0.21 Other pro forma costs, net of tax 1.7 5.1 0.02 0.05 Capital loss tax benefits 24.4 16.6 0.25 0.16 Historical Net Earnings from  Continuing Operations ** 180.2 159.8 1.87 1.56 Net Gain (Loss) from Discontinued  Operations 1.2 ( 79.8) 0.01 (0.78) Historical Basis Net Earnings ** $181.4 $ 80.0 $ 1.88 $ 0.78 Pro Forma Diluted Weighted Shares Outstanding *** 96.3 102.6 EARNINGS Primary Batteries Energizer’s complete product portfolio of primary batteries includes offerings in all performance and price categories – new super-premium Energizer ® e 2$_{TM}$ featuring titanium technology, premium  Energizer alkaline, economy Eveready Alkaline and  Eveready carbon zinc, as well as industrial batteries for non-consumer applications and lithium  batteries for high-performance applications. Miniature Batteries Energizer’s complete line of miniature batteries delivers reliable power for a variety of small devices including electronic watches and cameras, calculators and personal organizers, keyless car remotes and handheld electronic games, hearing aids and electronic thermometers. Flashlights and Lighting Products Energizer produces over 60 different flashlight and portable lighting devices  for use at home, work and recreation, for novelty uses and industrial applications. The company successfully introduced several new products during the year including the Rubber Two Way lantern, Folding Fluorescent lantern, Swivel Head industrial flashlight and Energizer ® Arc White TM Hi Intensity Fluorescent flashlight.