Statement of Changes in Beneficial Ownership - Form 4

Ownership Submission

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * GATES WILLIAM H III 2. Issuer Name and Ticker or Trading Symbol ECOLAB INC. [ECL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 2365 CARILLON POINT 3. Date of Earliest Transaction (Month/Day/Year) 10/31/2024 (Street) KIRKLAND, WA 98033 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 10/31/2024 S 32,271 D $245.1898(1) 31,153,283 I by Cascade Investment, L.L.C. Common Stock 10/31/2024 S 208,049 D $245.8955(2) 30,945,234 I by Cascade Investment, L.L.C. Common Stock 10/31/2024 S 50,139 D $247.2218(3) 30,895,095 I by Cascade Investment, L.L.C. Common Stock 10/31/2024 S 12,939 D $248.224(4) 30,882,156 I by Cascade Investment, L.L.C. Common Stock 10/31/2024 S 102,528 D $249.1466(5) 30,779,628 I by Cascade Investment, L.L.C. Common Stock 10/31/2024 S 3,210 D $249.8666(6) 30,776,418 I by Cascade Investment, L.L.C. Common Stock 11/01/2024 S 260,010 D $244.7476(7) 30,516,408 I by Cascade Investment, L.L.C. Common Stock 11/01/2024 S 54,450 D $245.9918(8) 30,461,958 I by Cascade Investment, L.L.C. Common Stock 11/01/2024 S 8,202 D $246.6241(9) 30,453,756 I by Cascade Investment, L.L.C. Common Stock 11/04/2024 S 31,387 D $243.1497(10) 30,422,369 I by Cascade Investment, L.L.C. Common Stock 11/04/2024 S 18,657 D $243.8123(11) 30,403,712 I by Cascade Investment, L.L.C. Common Stock 11/04/2024 S 12,849 D $244.9902(12) 30,390,863 I by Cascade Investment, L.L.C. Common Stock 11/04/2024 S 2,122 D $245.9706(13) 30,388,741 I by Cascade Investment, L.L.C.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.	SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)	6. Date Exercisable and Expiration Date (Month/Day/Year)	7. Title and Amount of Underlying Securities (Instr. 3 and 4)	8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Director	10% Owner	Officer	Other
GATES WILLIAM H III 2365 CARILLON POINT KIRKLAND, WA 98033		X
CASCADE INVESTMENT, L.L.C. 2365 CARILLON POINT KIRKLAND, WA 98033		X

Signatures

/s/ Alan Heuberger, Attorney-in-fact for William H. Gates III	11/04/2024
**Signature of Reporting Person	Date
/s/ Cascade Investment, L.L.C. by Alan Heuberger as attorney-in-fact for Michael Larson, Business Manager	11/04/2024
**Signature of Reporting Person	Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This transaction was executed in multiple trades at prices ranging from $244.6950 to $245.4900. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(2)	This transaction was executed in multiple trades at prices ranging from $245.7000 to $246.6900. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(3)	This transaction was executed in multiple trades at prices ranging from $246.7000 to $247.6900. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(4)	This transaction was executed in multiple trades at prices ranging from $247.7000 to $248.4700. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(5)	This transaction was executed in multiple trades at prices ranging from $248.7800 to $249.6900. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(6)	This transaction was executed in multiple trades at prices ranging from $249.7300 to $249.9800. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(7)	This transaction was executed in multiple trades at prices ranging from $244.2900 to $245.2800. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(8)	This transaction was executed in multiple trades at prices ranging from $245.2942 to $246.2800. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(9)	This transaction was executed in multiple trades at prices ranging from $246.3700 to $246.9500. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(10)	This transaction was executed in multiple trades at prices ranging from $242.4975 to $243.4900. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(11)	This transaction was executed in multiple trades at prices ranging from $243.5000 to $244.4700. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(12)	This transaction was executed in multiple trades at prices ranging from $244.5000 to $245.4850. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
(13)	This transaction was executed in multiple trades at prices ranging from $245.5500 to $246.3200. The price set forth above reflects the weighted-average price per share. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

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