#1Unilever at CAGNY Alan Jope & Graeme Pitkethly 22nd February 2022 Dove e deep moisture skin-natural nourishers instantly soft skin, lasting nourishment moisture renew blend Unilever 100% recycled bottle#2Unilever Contents Unilever overview Graeme Pitkethly 2021 results Graeme Pitkethly Strategic choices Alan Jope Summary Alan Jope 2#3Graeme Pitkethly Unilever overview and FY 2021 results 22nd February 2022 1 Dove deep moisture skin-natural nourishers. instantly soft skin, lasting nourishment moisture renew blend Unilever 100% recycled bottle#4Unilever Safe harbour statement This presentation may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as 'will', 'aim', 'expects', 'anticipates', 'intends', 'looks', 'believes', 'vision', or the negative of these terms and other similar expressions of future performance or Trading Statement, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the 'Group'). They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual Trading Statement to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual Trading Statement to differ materially are: Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; the effect of climate change on Unilever's business; Unilever's ability to find sustainable solutions to its plastic packaging; significant changes or deterioration in customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain and distribution; increases or volatility in the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; execution of acquisitions, divestitures and business transformation projects; economic, social and political risks and natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. A number of these risks have increased as a result of the current Covid-19 pandemic. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Unilever Annual Report and Accounts 2020. 4#5Unilever Unilever €52bn turnover full year 2021 3.4bn people use a Unilever product everyday #1 CPG employer of choice in over 50 markets Home Care 20% Beauty & Personal Care 42% Unilever Foods & Refreshment 38% Note: all figures as of full year 2021 Developed Markets 42% Emerging Markets 58% WHOW ONINION 0000 5#6Unilever Unilever €27bn from our top 13 brands >80% of turnover increasing or stable brand power Dove BENG JERRY'S Knorr Lipton M MAGNUM LUX PROFIBRE LONG LIVE CLOTHES Comfo Omfort fort ultimate care ultimate care ate Cape Degree ADVANCED Top of GlobeScan Sustainability Leaders survey for over 10 years Unilever XOMO TOUGH ON STAINS KINDER TO THE PLANET ATTACKS STAINS OMO NP 2 DIRT IS GOOD NEW 72H NONSTOP PROTECTION WORKS HARDER THAN REGULAR ANTIPERSPIRANTS MAKE TASTE, NOT WASTE. HELLMANN'S REAL MAYONNAISE Sunlight AXE OMO Sunsilk 4 Rexona HELLMANN'S EST.1913 consecutive years as most effective marketer 1.7bn It Won't Let You Down. digital IDs collected for targeted marketing Note: all figures as of full year 2021 Leader in Dow Jones Sustainability Index since 2014 6#7Unilever 2021 Delivery FY Growth Pricing Growth Underlying Sales Growth 4.5% 1.6% 4.1% 4.9% 1.6% 1.0% 0.3% Underlying Volume Growth FY'20 Q1'21 Q2'21 Q3'21 Q4'21 1Moving Annual Total / Last 52 weeks Competitive Growth 53% % Business Winning MAT1 7#8Unilever 2021 delivery Margin -10bps vs 2020 18.4% Cash Consistent strong cash flow €6.4bn ROIC 19% 18% 19% 18% 17% III 2017 2018 2019 2020 2021 Earnings +5.5% current +7.8% constant Returns to shareholders +3% dividend €3bn share buy back 00 8#9Unilever Performance accelerating USG % 3.6% 3.2% 2.8% 2.9% 1.9% 2016 3.2% 2-year CAGR 4.5% 2017 2018 2019 2020 2021 %Business Winning (MAT) UOM % 53% 53% 51% 44% 44% 42% 2016 2017 2018 19.1% 18.6% 18.5% 18.4% 17.7% 16.4% 2019 2020 2021 2016 2017 2018 2019 2020 2021 USG: 2016-2018 restated due to treatment of hyperinflation UOM: 2017 & 2018 restated due to treatment of IFRS16#10Unilever Looking forward: Unprecedented inflation, margin recovery expected Margin to be restored after 2022, with the majority coming back in 2023 GM (bps) (150) 100 (30) (160) 30 110 10 80 50 60 50 30 (55) (120) Includes 7.2% UPG% 2.4 NMI¹ (€bn) 4.8% 3.3% 1.4 0.6 Covid costs & mix (90)bps headwind 2.9% 1.6% 0.3% 3.6 0.2 0.1 1.3 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 ¹Net Material Inflation = market inflation post impacts of hedging, procurement actions, product reformulations and currency movements 2022 10#11Unilever Guidance and building blocks of margin recovery 2022 Guidance 4.5-6.5% price led growth Maintain competitive levels of spend in BMI, R&D and Capex 2023 and 2024 margin recovery Input cost deflation • • FY UOM 16-17%, down by 140-240bps H1 more heavily impacted than H2 Margin to be restored after 2022, with the majority coming back in 2023 Pricing carry over Savings delivery 11#12Alan Jope Strategic Choices 1 Dove deep moisture skin-natural nourishers. instantly soft skin, lasting nourishment moisture renew blend 22nd February 2022 Unilever 100% recycled bottle#13Unilever Five clear strategic priorities 1. Win with brands and innovation 2. Accelerate USA, India, China and EMs 3. Lead in channels of the future 4. Purpose -led, future-fit organisation & culture 5. Move portfolio into high growth spaces 13#14✔ Winning with our brands Unilever 13 €1bn+ brands 6.4% FY'21 USG 50% of turnover Dove BEN & JERRY'S Lipton OMO Sunlight Knorr M MAGNUM Sunsilk HELLMANN'S EST.1913 LUX Rexona AXE Product superiority Bigger, better innovation 71% of turnover tested winning vs competition VS 47% in 2019 >€1bn 2x incremental turnover vs 2020 Suns LUX Veggie NEW Sunlight EXPERT Dove Persil UX CLASSICO Concetto EXTRA M Rexona HYGIENE ROJERRY FAIT OF HOW! HELLMANN'S REAL HASTA 20% DE AHORRO 3L NUEVO XalaPARA MÁS jabón líquido ala ECONÓMICO DILUIR ர். MISMOS RESULTADOS DILUIR HASTA 20% DE AHORRO RINDE 3L. 14#15Unilever Five clear strategic priorities 1. Win with brands and innovation 2. Accelerate USA, India, China and EMs 3. Lead in channels of the future 4. Purpose -led, future-fit organisation & culture 5. Move portfolio into high growth spaces 15#16Unilever Accelerating in the USA €10bn turnover USG% 7.7% 3.7% 0.9% 0% 0.2% '17 '18 '19 '20 '21 %BW (MAT) 60% Shen Moisture SHEA BUTTER EXTRA MOISTURE RETENTION SHAMPOO Shea Moistur RAW SHEA BUTTER RESTORATIVE CONDITIONER Seo Kelp & Argor C Forily & Rad SheaMoistur DEEP TREATMENT DEEP TREATMENT MASQUE 326 mle 2 year CAGR >5% 11 Growing competitively ME Degre MEN MOTIONSE DRYSPRA MOTIONSens DRYSPRAY Degree ME MEN MEN Degre Degree gree MOTIONS DRYSPR MOTIONSense DRYSPRAY DRYSPRAY MEN MEN egree egree PTIONSense OTIONSense RYSPRAY RYSPRAY PORT DEFENSE ACTIVE EVERES EXTREMS OVERT ADVENTURE 3 DL RUSH 48H 48H 48H 48H NOTION MOTIO 48 MOTO 48 48H MOTION MOTION ADWIMMERY LIQUIDIV Prestige Beauty and Health & Wellbeing contributing strongly >65% LIQUID V LIQUID V HYDRATION MULTIPLIER ENERGY MULTIPLIER SLEEP MULTIPLIER CIT CTT CTT '17 '18 '19 '20 '21 Zzz 16#17Unilever Accelerating in India €5.6bn turnover USG% 11.2% 7.7% 6.1% 13.4% '17 '18 '19 -1.7% '20 '21 %BW (MAT) >75% '17 '18 '19 '20 '21 NEW Simple Simple Simple Simple 10 TAMINS 3 HYALURONIC ACID+B постел 10% NIACINAMIDE HEMPSP Simple #Strong Yetkind supercharged booster serums CPG leader Dove Unconditional Love & Care for all skin types with Dove Body Love Range High competitiveness body love RESTORE YOUR TEETH Car Light Hydration NutriDUO Dove Dove Dove Numbed SENSITIVITY REPAIR sensitive sensitive MINERAL ACTIVE™ UPTO 100% COVERAGE OF SENSITIVE AREAS* IN 3DAYS Strong focus on market development Sensitive ses refers to open dentinel tubules. Besed on invitro study, 2019 17#18Unilever Accelerating in China €3.3bn turnover USG% 6.9% 4.2% 7.9% 2.0% 14.3% '17 '18 '19 '20 '21 %BW (MAT) 20% >55% '17 '18 '19 '20 '21 家樂 家樂 家樂 t 桂花红烧鏽 $314 ** *FZ -家樂 家樂 鸡精 周味料 家樂 Competitive, volume-led growth Kate Somerville. a te iwe perfections clarifiar Gel net vant an e120 ml 4 Oz L C Now #3 market for Unilever 凡士林精华身体乳 解锁你的身体密码 DECODE YOUR BODY SKIN Vaseline. 4 5 Kate Somerville EradiKate Namah Much Fr Selective roll-out of Prestige Beauty and Health & Wellbeing Vaseline. 18#19Unilever Five clear strategic priorities 1. Win with brands and innovation 2. Accelerate USA, India, China and EMs 3. Lead in channels of the future 4. Purpose -led, future-fit organisation & culture 5. Move portfolio into high growth spaces 19#20Unilever Channels - Digital Commerce 44% 2021 eCom growth E2 Alibaba.com Digital capabilities * COMPRA AGORA 47 Digital Hubs 21 U-Studios Omni +31% Pure play +24% eB2B +91% 2% eCom TO contribution 1.7bn digital IDs 13% '16 '17 '18 119 '20 '21 10% 14% 42% 37 People Data Centres 1.5m+ assets created across 35,000 projects 13,000 insight studies delivered MAKE 20 20#21Unilever Five clear strategic priorities 1. Win with brands and innovation 2. Accelerate USA, India, China and EMs 3. Lead in channels of the future A. Purpose -led, future-fit organisation & culture 5. Move portfolio into high growth spaces 21 24#22Unilever A new, future-fit organisation From matrix to category focused End-to-end strategy and P&L responsibility Extreme accountability Delivering €600m of savings across 2 years One Unilever scale in corporate centre and business operations 22 22#23Unilever A new, future-fit organisation Business Groups: end-to-end strategy and P&L responsibility Corporate Centre Beauty & Wellbeing Personal Care Home Care Nutrition Ice Cream Hair Care Skin Cleansing Skin Care Deodorant Prestige Vitamins Minerals & Oral Care Dollar Shave Club Fabric Cleaning Fabric Enhancers Home & Hygiene Water & Air Scratch Cooking Healthy Snacking Functional Nutrition Plant-based Meat Ice Cream Supplements Elida Beauty UFS Unilever Business Operations 23#24Unilever A new, future-fit organisation Beauty & Wellbeing 7/8 geographic Business Units under each Business Group. For example... Business Units: in market operational execution Corporate Centre North America Personal Care Personal Care Home Care Nutrition Ice Cream LATAM Personal Care Europe + ANZ Personal Care Personal Care METR North Asia Personal Care South Asia Personal Care Indonesia Personal Care Unilever Business Operations South-East Asia Personal Care 24#25Unilever Five clear strategic priorities 1. Win with brands and innovation 2. Accelerate USA, India, China and EMs 3. Lead in channels of the future 4. Purpose -led, future-fit organisation & culture 5. Move portfolio into high growth spaces 25 25#26Unilever Portfolio change Acquisitions €16bn capital invested in 29 acquisitions since 2017 Disposals €11bn proceeds from 12 disposals since 2017 Prestige 17% Other BPC 33% 7% Functional Nutrition 43% 93% Tea 33% Other 2% 98% Spreads 65% High teens ROIC maintained throughout period of significant portfolio rotation Portfolio rotation ('17-'21 % of TO) 17% 13% U Peers avg Unilever 26#27Portfolio change Unilever '21 USG contribution (bps contribution to '21 USG from acquisitions and disposals since '17) Prestige Beauty and Functional Nutrition growing bps contribution to Unilever USG% 3.4% USG 4.5% 0.7% 10.4% 40 40 60 70 70 10 0 FY '19 FY '20 Q1'21 Q2'21 Q3'21 Q4'21 USG USG disposals (estimated) excl. acquisitions & acquisitions disposals 27 27#28Unilever Portfolio change - Prestige Beauty & Functional Nutrition REN CLEAN SKINCARE | developed by The International Dermal Institute dermalogica Living proof. HOURGLASS REN sound sleep onction 2015 sound s по запер соо dermalogica Kate Somerville Murad. Kate Somerville TOTAL REPAIR Prestige Beauty Functional Nutrition Murad Murad. Murad Living proo ving prod Living pre 2017 quilibra MINERAL GARANCIA TATCHA Horlicks PAULA'S CHOICE SKINCARE 2018 RANC MISTABA 2019 TATCH OLLY SMARTY PANTS vitamins RECOVERY OLLY 10 9 1112 SMAL PAN ARTY TS ORGAN SMARTY NICS MEN'S PANTS FORMULA ORGANICS PROTEIN LOW SUGAR 8 SLEEP 765 MULT the for M YEHEALTH Horlick Horlicks Boost Morkel PAULA'S CHOICE 2020 2021 LIQUIDIV. ONNIT ONNIT ALPHA BRAIN MEMORY&FOCUS Daily Captive Supp BETARY SUPPLEMENT 28#29Unilever Five clear strategic priorities 1. Win with brands and innovation 2. Accelerate USA, India, China and EMs 3. Lead in channels of the future 4. Purpose -led, future-fit organisation & culture 5. Move portfolio into high growth spaces 29#30Unilever Performance accelerating Step up in 2 year CAGR through the year Continue to land pricing as inflation increases Winning competitively USG%: '20-21 2-year CAGR UPG% Business Winning% 4.2% 3.4% 2.8% 2.3% 4.9% 4.1% 51% 53% 53% 44% 44% 42% 1.6% 1.0% 0.3% ill Q1 Q2 Q3 Q4 FY'20 Q1'21 Q2'21 Q3'21 Q4'21 2016 2017 2018 2019 2020 2021 30 30#312022 priorities Unilever Continuing growth acceleration Managing inflationary pressure while investing for growth Implementing new operating model 31#32Unilever at CAGNY Alan Jope & Graeme Pitkethly 22nd February 2022 Dove deep moisture skin-natural nourishers instantly soft skin, lasting nourishment moisture renew blend Unilever 100% recycled bottle