ECOLAB INC.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

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ECOLAB INC.

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DEAR FELLOW STOCKHOLDER:

2025 was another record year for Ecolab. Thanks to our 48,000 associates, we delivered record sales, earnings per share, operating income margins and free cash flow by staying focused on what matters most: taking care of our customers and each other. This approach continues to drive strong, consistent growth across the Company.

Our team delivered strong performance across our businesses. Institutional & Specialty helped hospitality customers improve performance, address labor challenges and run efficiently. Global Water drove growth by delivering measurable value across commercial and industrial markets and advanced major opportunities in the fast-growing microelectronics and data center industries. Life Sciences delivered another strong year in biopharma as demand for high standards in contamination control and purification grew. And Pest Elimination drove strong growth as our digitally connected smart devices expanded their reach and delivered stronger outcomes for customers.

A major highlight of the year was welcoming Ovivo Electronics to the Ecolab family. Its world-leading ultrapure water technology strengthens our position across the microelectronics value chain and enables a best-in-class circular water offering for the fast-growing semiconductor market. With Ovivo, we now have the capability to serve all three industries fueling Artificial Intelligence’s (AI) growth: fabs, power systems and data centers.

Innovation continued to fuel our progress. We introduced smarter, more automated, more sustainable solutions across our portfolio — from advanced liquid cooling for data centers to AI-enabled cleaning systems in food and beverage facilities and Purolite resins for life-saving drug production. These solutions combine science-based expertise, data-driven insights, AI technologies and world-class service. This unique blend is what defines Ecolab, as we help millions of customers across 40 industries in 170 countries deliver better outcomes, higher performance and minimized environmental impact. It’s why we know what best-in-class looks like and how to help every customer reach it.

Our purpose-driven growth was also recognized globally. Ecolab was named one of the World’s Most Admired Companies by Fortune, ranking first in our industry for the 12th year. We also earned a rare Double-A rating by CDP, the world’s leading environmental rating organization, and were named on the Ethical Companies list by Ethisphere for the 20th consecutive year.

Our momentum in AI was also recognized on Fortune’s AIQ ranking, which identifies companies best prepared to lead in the age of AI. Ecolab’s number nine position reflects how we apply advanced analytics and AI technologies that help customers operate more efficiently, drive growth and conserve water and energy. We are helping shape the future of AI by combining deep technical expertise with purposeful innovation.

As we look ahead, the world is growing more complex, and our diverse portfolio positions us well to help customers stay ahead. We win by delivering better business outcomes, stronger operational performance and lower environmental impact, and we continue to raise the bar by investing in our people, technologies and One Ecolab growth strategy. The momentum we built this year gives us a strong foundation for the years ahead, and with a more connected organization, advanced portfolio and deeper customer partnerships, we are well positioned to keep delivering high performance for our customers and shareholders.

I look forward to sharing more detailed updates at our upcoming Annual Meeting of Stockholders. You can find details of the business to be addressed in our Notice of Annual Meeting and the Proxy Statement. I invite you to join the live webcast at 9:30 a.m., Central Time on May 7, 2026, and make your vote count. To attend, vote and submit questions, please visitwww.virtualshareholdermeeting.com/ECL2026 and enter the 16-digit control number found in your Notice of Internet Availability of Proxy Materials, voting instruction form or proxy card.

I’m proud of what our team accomplished in 2025 and excited for what comes next. Thank you for your belief in Ecolab and in the work we do together. The best chapters of our story are ahead.

Christophe Beck

CHAIRMAN & CEO

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DEAR FELLOW STOCKHOLDER:

As lead independent director, and on behalf of all Ecolab independent directors, I invite you to join the Company’s Annual Meeting of Stockholders on May 7, 2026, where you will hear important updates about Ecolab’s performance and have the opportunity to vote on the proposals included in the Notice of Annual Meeting and Proxy Statement.

As we reflect on 2025, I am pleased to share that Ecolab had another year of strong performance, disciplined execution and meaningful progress toward our long-term strategy. Ecolab continues to demonstrate resilience and innovation in a dynamic global environment, delivering results for customers while creating sustainable value for shareholders. Our performance this year once again reinforces the strength of our strategy, leadership and purpose-driven culture.

Ecolab delivered another year of strong returns while maintaining financial discipline. Together, we generated healthy top-line growth, improved margin performance and delivered strong free cash flow again in 2025. The company’s ability to consistently deliver these results — while continuing to invest in R&D, digital innovation, talent and growth opportunities — demonstrates focused leadership and a long-term mindset.

The Board remains confident in Ecolab’s financial strength and strategic direction. Maintaining a balanced and effective capital allocation framework remains a priority, including reinvesting to drive growth and announcing a 12% increase in our quarterly cash dividend — the 34 th consecutive annual increase.

In May 2025, we welcomed Marion Gross to the Board as an independent director and member of the Compensation & Human Capital Management and the Safety, Health & Environment Committees. Marion’s extensive global business experience and deep knowledge of the global foodservice industry have already made her an exceptional asset to the Board.

In August 2025, we also welcomed Julie Whalen to the Board as an independent director and member of the Audit and Finance Committees. Julie’s comprehensive executive leadership experience and global perspective also had a significant impact.

In February 2026, Victoria Reich informed the Board that she would not stand for re-election at the Annual Meeting. Vicki has been a valued colleague and trusted advisor, consistently offering independent perspectives and her deep financial expertise and global leadership experience. We are deeply grateful for her 17 years of service, including seven years as Chair of the Audit Committee. We thank her for all the contributions she made to Ecolab and our team.

As Lead Independent Director, I remain committed to serving the best interests of Ecolab’s shareholders by ensuring our independent directors provide strong oversight and remain deeply engaged in the company’s most significant strategic and investment decisions. By continuing to prioritize engaging with investors, I’ve been able to incorporate their perspectives to help align Ecolab’s strategy with shareholder expectations. I’m also continuing to support ongoing Board refreshment by overseeing planned rotations of key Chair roles to bring fresh perspectives and ensure our governance remains rigorous, forward-looking and proactive.

As I look ahead, I remain confident in Ecolab’s ability to continue delivering strong performance and long-term value. I want to extend my sincere gratitude to our shareholders for their continued trust and support, which empower us to pursue our strategy with focus and ambition. I also am deeply appreciative of the Board’s steadfast leadership and their belief in Ecolab’s future. Their engagement and guidance strengthen our ability to advance our purpose, support our team and deliver sustainable growth for the years to come.

David W. MacLennan

LEAD INDEPENDENT DIRECTOR

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TO THE STOCKHOLDERS OF ECOLAB INC.

The Annual Meeting of Stockholders of Ecolab Inc. will be held virtually on Thursday, May 7, 2026, at 9:30 a.m., Central Time, by means of a live webcast. We will vote on the matters described below, which are more fully explained in the Proxy Statement. Our Annual Meeting will be held in avirtual meeting format only. You will not be able to attend the Annual Meeting at a physical location.

MEETING INFORMATION

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You can also vote during the Annual Meeting by visitingwww.virtualshareholdermeeting.com/ECL2026, entering the 16-digit control number, and following the instructions. For more detailed Information, see the section entitled “Voting Procedures” beginning on page 87.