Spectrum Brands Increases Revolving Credit Facility, Extends its Maturity and Reduces Interest Rate Margins and Unused Commitment Fees

MIDDLETON, Wis.–(BUSINESS WIRE)–Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products
company offering an expanding portfolio of leading brands providing
superior value to consumers and customers every day, announced today
that its wholly owned subsidiaries, Spectrum Brands, Inc. (“Spectrum
Brands”) and SB/RH Holdings, LLC (“SB/RH Holdings”), entered into the
second amendment (the “Second Amendment”) to the credit agreement, dated
as of June 23, 2015 (the “Credit Agreement”), by and among Spectrum
Brands, SB/RH Holdings, Deutsche Bank AG New York Branch (as the
administrative agent) and the lenders party thereto from time to time.

The Second Amendment modified certain terms of the Credit Agreement’s
revolving credit facility (with a U.S. dollar tranche and a
multicurrency tranche) (the “Revolving Facility”), including extending
its maturity from June 23, 2020 to March 6, 2022, increasing the
aggregate commitment amount from $500 million to $700 million by
increasing the amount of the U.S. dollar tranche of the Revolving
Facility, reducing the aggregate commitment amount of the multi-currency
tranche of the Revolving Facility and reducing interest rate margins and
unused commitment fees.

About Spectrum Brands Holdings, Inc.

Spectrum Brands Holdings, a member of the Russell 1000 Index, is a
global and diversified consumer products company and a leading supplier
of consumer batteries, residential locksets, residential builders’
hardware, plumbing, shaving and grooming products, personal care
products, small household appliances, specialty pet supplies, lawn and
garden and home pest control products, personal insect repellents, and
auto care products. Helping to meet the needs of consumers worldwide,
our Company offers a broad portfolio of market-leading, well-known and
widely trusted brands including Rayovac®, VARTA®, Kwikset®, Weiser®,
Baldwin®, National Hardware®, Pfister®, Remington®, George Foreman®,
Black + Decker®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®,
8-in-1®, FURminator®, IAMS®, Eukanuba®, Healthy-Hide®, Digest-eeze™,
Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag®,
Liquid Fence®, Armor All®, STP® and A/C PRO®. Spectrum Brands’ products
are sold in approximately 160 countries. Spectrum Brands Holdings
generated net sales of approximately $5.04 billion in fiscal 2016. For
more information, visit www.spectrumbrands.com.

Forward-Looking Statements

Certain matters discussed herein and other oral and written
statements made by representatives of Spectrum Brands and its affiliates
regarding matters such as the timing and amount of usage of its
Revolving Facility may be forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
statements are identified by words such as “future,” “anticipate,”
“intend,” “plan,” “estimate,” “believe,” “expect,” “project,”
“forecast,” “could,” “would,” “should,” “will,” “may,” and similar
expressions of future intent or the negative of such terms. These
statements are subject to a number of risks and uncertainties that could
cause results to differ materially from those anticipated as of the date
of this release.

Actual results may differ materially as a result of (1) Spectrum
Brands’ ability to manage and otherwise comply with its covenants with
respect to its significant outstanding indebtedness, (2) our ability to
finance, complete, integrate, and to realize synergies from
acquisitions, (3) risks related to changes and developments in external
competitive market factors, such as introduction of new product features
or technological developments, development of new competitors or
competitive brands or competitive promotional activity or spending, (4)
changes in retailer and consumer demand for the various types of
products Spectrum Brands offers, (5) unfavorable developments in the
global capital markets, (6) the impact of overall economic conditions on
consumer spending, (7) fluctuations in commodities prices, the costs or
availability of raw materials or terms and conditions available from
suppliers, (8) changes in the general economic conditions in countries
and regions where Spectrum Brands does business, such as stock market
prices, interest rates, currency exchange rates, inflation and consumer
spending, (9) risks related to the United Kingdom’s 2016 referendum,
which called for its exit from the European Union, (10) Spectrum Brands’
ability to successfully implement manufacturing, distribution and other
cost efficiencies and to continue to benefit from its cost-cutting
initiatives, (11) Spectrum Brands’ ability to identify, develop and
retain key employees, or (12) unfavorable weather conditions and various
other risks and uncertainties, including those discussed herein and
those set forth in the filings pursuant to the federal securities laws
of each of Spectrum Brands Holdings, Inc. and SB/RH Holdings, LLC,
including each of their most recently filed Annual Reports on Form 10-K
or Quarterly Reports on Form 10-Q.

Spectrum Brands also cautions the reader that its estimates of
trends, market share, retail consumption of its products and reasons for
changes in such consumption are based solely on limited data available
to Spectrum Brands and management’s reasonable assumptions about market
conditions, and consequently may be inaccurate, or may not reflect
significant segments of the retail market. Spectrum Brands also cautions
the reader that undue reliance should not be placed on any
forward-looking statements, which speak only as of the date of this
release. Spectrum Brands undertakes no duty or responsibility to update
any of these forward-looking statements to reflect events or
circumstances after the date of this release or to reflect actual
outcomes.

Contacts

Spectrum Brands Holdings, Inc.
Investor/Media Contact:
Dave Prichard
608-278-6141