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Moen Partners with Liberty Mutual Insurance to offer Savings on In-Home Leak Protection

1. Moen partners with Liberty Mutual to promote smart water monitoring. 2. Flo technology can significantly reduce water damage claims and waste. 3. Water damage costs insurers over $15 billion annually, impacting homeowner insurance claims. 4. The device detects leaks and prevents water waste, conservatively up to 90%.

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Why Bullish?

The partnership enhances product offering, aligning with market needs for smart home innovations.

How important is it?

The partnership positions FBIN favorably in a growing market, likely boosting its stock performance.

Why Short Term?

Immediate impact expected from increased sales and market awareness of Flo products.

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LIBERTYPLNT
THE PARTNERSHIP EXTENDS ACCESS TO FLO, MOEN'S AUTOMATIC WATER SHUTOFF SOLUTION, HELPING PREVENT WATER DAMAGE AND WASTE, /PRNewswire/ -- Moen, the leader in water experiences in the home, today announced an initiative with Liberty Mutual Insurance to provide its customers with special savings and installation programs on the Moen® Flo Smart Water Monitor and Shutoff devices. By offering the technology at a discount to homeowners, Moen aims to significantly reduce the risk of water damage claim frequency by as much as 96%1 and reduce household water wasted through preventable leaks by up to 90%2. Moen Flo Smart Water Monitor and Shutoff "Water damage is costly: It is estimated that insurers pay out over $15 billion in water claim damages annually, many of which are due to water leaks3," said Jeff Barnes, vice president, affinity partnerships, Moen. "These types of events account for 24% of all homeowner insurance claims4. By encouraging the use of Flo smart leak detection, Moen can help insurance companies reduce water damage claims caused by water leaks and alleviate costs associated with those claims." Moen will be working with Liberty Mutual to help provide the Flo Smart Water Monitor and Shutoff to policyholders. Beyond leak detection and shutoff, Flo can help prevent water waste – an increasing concern for Americans. In fact, it is estimated that one trillion gallons of water across the country are wasted due to leaks each year5.The Flo Smart Water Monitor and Shutoff continuously monitors the pressure and flow rate of the water moving through a home's pipes, detecting leaks as small as a drop per minute anywhere in the home. If the device identifies an issue, it will promptly send an alert through the Moen Smart Water Network App, enabling users to turn off the water, or in the event of a catastrophic leak, it will automatically shut off the water to prevent major damage. Homeowners can also track water usage by fixture and set conservation goals within the app to further support water-saving efforts. For additional information about the Flo Smart Water Monitor and Shutoff, visit moen.com/flo.Organizations interested in leveraging the device can contact [email protected]. 1 Results from the 2020 LexisNexis Study can be found here 2 Based on average American annual water leaks of 10,000 gallons 3 Non-Weather Water Claims 4 Insurance Information Institute (III)  5 Environmental Protection Agency  ABOUT MOEN Moen is the #1 consumer faucet brand in North America, offering a vast array of stylish and innovative kitchen and bath faucets, showerheads, accessories, bath safety products, kitchen sinks, garbage disposals, leak detection products and connected home offerings for residential applications that give consumers more power than ever before to understand and control the water that flows through their homes. These thoughtful designs deliver an exceptional user experience and elevate how people interact with water daily. In addition, Moen® Commercial offers superior-performing products that can deliver lower lifetime costs for today's facilities.Moen is part of Fortune Brands Innovations, Inc. (NYSE: FBIN), a brand, innovation and channel leader focused on exciting, supercharged categories in the home products, security and commercial building markets. Moen anchors Water Innovations (WINN), which also includes several brands under the House of Rohl® including Perrin & Rowe®, ROHL®, Riobel®, Shaws® and Victoria + Albert®. Fortune Brands' other brands include Fiberon® composite decking and railing products; Master Lock®, Yale® residential, August® and Sentry® Safe security products; LARSON® storm doors and Therma-Tru® entry door systems. For more information, please visit www.FBIN.com.SOURCE Moen WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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