Dear Colleague,

In 1915, a tractor salesman named Frank Donaldson had a customer. And that customer had a mess on his hands - a dusty field that continually clogged up his tractor's engine. Frank thought long and hard about the problem and arrived at a simple but powerful solution. That's how the very first Donaldson air filter came into existence.

Since then, a lot has changed. Donaldson has grown into a global company, and we do a whole lot more than just help fix tractor engine problems. The broad array of customers and industries we serve is reflected in the capacity and advanced technology of the products we produce today. But what we fundamentally do has not changed. Customers come to us with an issue, and we provide them with innovative solutions, quality products, and reliable customer service. That is why, over 100 years later, we continue to make good on our commitment to advancing filtration for a cleaner world.

Our Code of Conduct (Code) is more than a list of rules - it is an expression of the values and principles we live by and a vital tool for understanding who we are and how we do business. The pages ahead lay out clear expectations around acting with integrity that are based on our six guiding principles. I encourage all employees to familiarize themselves with this document, as doing so will help each of us stay in compliance with the law and our policies.

I am honored to lead this company and excited about what lies ahead. Together, we will continue to be a company that is ethical, innovative, sustainable, and successful.

Sincerely,

Tod Carpenter

Chairman, President, and CEO