ECOLAB INC. — Director's Dealing 2022

May 5, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC. (ECL)
CIK: 0000031462
Period of Report: 2022-05-02

Reporting Person: Mulhere Timothy P (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-02	Common Stock	M	14400	—	Acquired	36307.393	Direct
2022-05-02	Common Stock	F	5667	$166.380	Disposed	30640.3930	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-05-02	Restricted Stock Units	$	M	14400	Disposed	2022-05-02	Common Stock (14400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1952.255	Indirect

Footnotes

F1: On May 2, 2018, the reporting person was granted 14,400 restricted stock units vesting as to 100% of the units on the fourth anniversary of the date of grant, subject to continued employment.
The restricted stock units converted into common stock on a one-for-one basis.

F2: Reflects the reporting person's payment of minimum statutory tax obligations by withholding shares of Ecolab Common Stock incident to the vesting of restricted stock units in accordance with Rule 16b-3.

F3: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of April 30, 2022. Includes 16.497 UNITS acquired since the reporting person's last report. (The 1,952.255 UNITS are the equivalent of approximately 3,589 SHARES of the issuer's Common Stock.)