#1Nestle Good food, Good life CAGNY 2023 Generating strong growth and returns in PetCare François-Xavier Roger EVP, Chief Financial Officer BINA TRONAR PURINA ONE +PLUS JOINT HEALTH FORMULA o&ucosamin AINT HEALTH & MO NATURAL nature. RESEARCH RESULTS STRONG MUSCLES INCLUDING A HEALTHY HEART#2Disclaimer This presentation contains forward looking statements which reflect Management's current views and estimates. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments. 2 February 24, 2023 CAGNY Nestle Good food, Good life#3Our business is global, balanced and diversified 3 Where we sell Latin America 13% Resources 2022 sales of CHF 94.4 bn, with an underlying TOP margin of 17.1% What we sell February 24, 2023 North America 35% Europe 24% CAGNY AOA 22% Number of employees 275 000 Greater China 6% Beverages (incl. coffee) 27% Milk products & ice cream 12% R&D spend CHF 1.7 bn PetCare 19% Confectionery 9% Nutrition & Health Science 16% Water 4% Prepared dishes & cooking aids Factories 344 13% Nestle Good food, Good life#4At a glance: our Purina PetCare business Sales 2022 CHF 18.1 bn Underlying TOP margin 20.5% Where we sell CAGNY North America 60% Latin America 9% * Other refers to snacks, litter and therapeutic diets / supplements February 24, 2023 Europe 26% AOA 4% Greater China 1% PURINA Your Pet, Our Passion. What we sell Dry dog 30% Wet dog 4% Wet cat 32% Others* 15% Dry cat 19% Nestle 4#56 billionaire brands 2022 sales CHF PURINA PRO PLAN 2.8 bn PURINA Fancy Feast 1.8 bn Note: Pro Plan includes Veterinary Diets February 24, 2023 CAGNY PURINA ONE 2.6 bn PURINA felix 1.5 bn PURINA Your Pet, Our Passion. PURINA Friskies 2.4 bn PURINA DOG CHOW Always Crafted in the USA 1.4 bn Nestlē 5#6Successful track record in Purina PetCare Becoming a global leader in 2001 through the Ralston Purina acquisition 2002 2022 Increasing contribution to Nestlé results Sales February 24, 2023 PetCare CHF 9.0 bn* 12% *2002 sales restated for estimated net sales after trend spend CAGNY PetCare CHF 18.1 bn 19% Underlying TOP PetCare 16% PetCare 23% PURINA Your Pet, Our Passion. PURINA Strong organic growth since acquisition, with recent step-up (average) 6.2% 2002-2016 8.7% 2017-2022 Nestlē 01 6#7Large global player, with further share opportunities Strong global position Pet care: CHF 96 bn category Others 45.6% Source: Euromonitor February 24, 2023 Private Label 9.6% CAGNY Mars 21.9% Hills 5.1% Blue JM Buffalo Smucker 3.3% 3.5% Purina PetCare 20.6% Significant share opportunity in emerging markets 29% North America Source: Nielsen PURINA Your Pet, Our Passion. 23% Latam 21% Europe 10% AOA 3% Nestlē Greater China 7#8Strong market positions in fast-growing segments Market size (CHF bn) Market growth (CAGR '17-'21) Market share (2021) February 24, 2023 Dry dog CAGNY PURINA PRO PLAN SENSITIVE SKIN & STOMACH PEAUX ET ESTORACE SENSIBLES ET INSPORTLA 35 7.5% 18.0% Source: Euromonitor Wet dog CLASSIC GROUND BEEF & BROWN RICE ENTRÉE PURINA REAL BET 10 7.1% 11.7% PURINA Dry cat PURINA Cat Chow CO ADULTOS CARNE 17 8.9% 25.4% Your Pet, Our Passion. Wet cat felix. AS GOOD AS IT LOOKS with Chicken IN JELLY 17 7.5% 36.3% Snacks k PURINA Dentalife ActivFresh Fight Bad Breath at Its Source 301 15 9.8% Nestlē 9.7% 8#9Future pet care category growth drivers Pet population 2.4% CAGR Expected increase in global pet population 2022- 2025 Source: Euromonitor February 24, 2023 CAGNY Expected pet care category CAGR, 2022-2025: 6% -8% Calorific coverage in emerging markets 2013 2022 77% 79% Developed markets Source: Internal analysis 34% 41% Emerging markets PURINA E-commerce Speciality +5% Source: Euromonitor Online +31% Pet care category sales CAGR 2017-2021 Your Pet, Our Passion. Grocery +5% Premiumization 2.3x faster SAN Nestlē CAGR for premium products vs. economy products, 2013 - 2021 Source: Euromonitor 9#10Balanced growth supported by premiumization Well-balanced growth (Purina PetCare average 2020-2022) Volume 27% February 24, 2023 Pricing 37% CAGNY Mix 35% Therapeutic Premium Broad portfolio of strong brands PURINA PRO PLAN PURINA DOG CHOW PURINA Your Pet, Our Passion. Mainstream PURINA PRO PLAN VETERINARY DIETS Merrich L whole Mont Made Right PURINA LILY'S KITCHEN. PROPER FOOD FOR PETS PURINA PURINA® Fancy ONE GOURMET Feast Chow & PURINA XPURINA® PURINA felix Friskies Nestlē 10#11Strong margin and returns while investing for growth Purina PetCare underlying TOP margin reflecting growth investments February 24, 2023 20.3% 2013 CAGNY 20.5% 2022 PURINA Purina PetCare return on invested capital Your Pet, Our Passion. 2013 + 130 bps 2022 Nestlē 11#12Investing to meet higher demand Selected Purina PetCare projects: ~ CHF 3 bn, 2022-2025 N nature RESEARCH RESULTS PURINA ONE LAMB & RICE FORMULA REAL LAME IS INGREDIENT NATURALN PURINA PRO PLAN® VETERINARY DIETS CC CARDIO CARE A NET WT POIDS NET CONT NET 13.4 02 (380 g) Dry Eden, NC, U.S. Dry & Wet Vargeão, Brazil February 24, 2023 CAGNY PURINA® PRO PLAN LIVECLEAR STERILISED NEW 1+ OFRI PURINA PRO PLAN 冠能 Dry Williamsburg Township, OH, U.S. Dry & Wet Tianjin, China PURINA Your Pet, Our Passion. XPURINA GOURMET GoldCE RAFFRES MET ZEEVIS IN EEN SAUS MET SPINAZIE Habihin Land BARELY felix Nestlē Wet Wroclaw, Poland Wet Rayong, Thailand 12#13United States: Pet care category overview & Purina PetCare strategy Nina Leigh Krueger President & CEO, Nestlé Purina, North America PURINA Your Pet, Our Passion. 13#14February 24, 2023 Caffrey CAGNY PURINA Your Pet, Our Passion. Guinness Nestlé PURINA. 14#15OUR PURPOSE Enrich the lives of pets and the people that love them OUR BELIEF Pets and People are better together Al that#16Committed to leading the way in pet nutrition today and tomorrow February 24, 2023 PURINA every ingredient has a purpose CAGNY Nestlé PURINA. 20 324920 WARS PURINA Your Pet, Our Passion. ADVAN PURINA Institute A IN ALT Advancing Science for Pet Health 16#17U.S. pet care category overview February 24, 2023 CAGNY PURINA Your Pet, Our Passion. Nestlé PURINA. 17#18U.S. is the largest pet care market globally  M USD 46 bn pet care category pet care = dog & cat food, treats, supplements and litter 60% of U.S. households own a pet 185 m dog + cat population +4.7 m pets in last 2 years 2x total store (XAOC) growth XAOC = grocery, mass, club, dollar, drugstore, convenience Nestlé PURINA. Source: 52-week category USD sales NielsenIQ XAOC + Pet retail ending (Dec 22) + 1010 data e-commerce + IDEXX vet clinics (Dec 2022); 52-week category growth NielsenIQ XAOC; NielsenIQ homescan panel household + pet pop. Survey 2021 February 24, 2023 PURINA Your Pet, Our Passion. CAGNY 18#19Three key drivers fueling pet care category growth Additional USD 12.6 bn between '19-'22 (+11% CAGR) 78% of growth February 24, 2023 22% of growth Source: Based on NielsenIQ XAOC + Pet Retail + 1010data e-commerce + Idexx Vet Clinics (CY19-22) CAGNY PURINA PREMIUMIZATION Fancy Feast CENTERS SAVORY Pre Win Chidanand met Gray Ce CHUNKY EXPANDABLE CONSUMPTION A freshpet 1 SLICE&SERVE ROLL ro CHICKEN & TURKEY IN TASTY MEATY SCIENCE-BASED NUTRITION BLUE WILDERNESS WILD DELIGHTS WET CAT EMERGING GROWTH AREAS FRESH Your Pet, Our Passion. Sheba JustFood ForDogs. pare ROYAL CANIN Sheba MEDIUM/MOYEN AN ..... A SORBCINA Beggin With Bacon Flavor Zesty Pa 8-in-1 Bites 250z PRET ERARY SIETS CC TREATS SUPPLEMENTS Greenies m Blueberry (these p TERME FER 43 ww PROPLAN VETERINARY SCAN FortiFlora Nestlé PURINA. 19#20Category growth led by e-commerce, with dog the largest segment E-commerce 2x category growth Pet care category (sales by channel) Pet retail 30% E-commerce 20% CAGNY XAOC 50% Dog accounts for ~2/3 category Pet care category (sales by sub-category) Cat treats 3% Wet cat 13% 2% Dry cat 12% Frozen / Refrigerated Cat litter 9% Dog treats 14% Pet retail = PetSmart, Petco, PSP, independent pet stores, and vet clinics Source: Calendar Year 2022 data for Nielsen XAOC + Pet Retail (through 12/31/22) + 1010data e-commerce (through December 2022) + IDEXX vet clinics (through December 2022) February 24, 2023 PURINA Your Pet, Our Passion. Dry dog 37% Nestlé PURINA. Wet dog 10% 20#21Purina PetCare is market leader in U.S. pet care Private Label 8% Blue Buffalo 6% Hills 7% JM Smucker 8% Others 25% CAGNY Mars 17% Market share 2022 Purina PetCare 29% # Total pet care Source: Calendar Year 2022 data for Nielsen XAOC + Pet retail (through 12/31/22) + 1010data e-commerce (through December 2022) + IDEXX Vet Clinics (through December 2022) February 24, 2023 PURINA Your Pet, Our Passion. + Nestlé PURINA. #1 in Dry dog Dry cat Wet cat Cat litter 21#22Pet care category expected to continue delivering strong growth Source: Internal Estimates based on Nielsen XAOC + Pet Retail + 1010data e-commerce + Idexx Vet Clinics February 24, 2023 CAGNY PURINA USD 46 bn 2022 Your Pet, Our Passion. 6% -8% CAGR USD > 57 bn Nestlé PURINA. 2025 forecast 22#23Purina PetCare U.S. key growth strategies & enablers February 24, 2023 CAGNY PURINA Your Pet, Our Passion. Nestlé PURINA. 23#24Purina PetCare brands well-positioned to win Beneful ORIGINALS PURINA Beneful ORIGINALS with farm-raised beef the ingredient WEL ES5159 Naturally ARTIFICIAL CAT FOOD Beyond SIMPLY GREE KHEZA CHEECHEL STERE WHITE MEAT CHICKEN & EGG RECIPE Zuke's MINI Naturale @r EVIDITY M PROBIOTICS CAGNY CAT TWIT 40 DE DUR 136 K XPURINA TIDY CATS MULTI-CAT CLUMPING LITTER LIGHTWEIGHT 24/7 ANCE XPURINA PRIME BONES <-CHEW STICK- 14 DAY 56 m households 1 Beyond domin Merrick Grain Free REAL TEXAS BEEF+ SWEET POTATO RECIPE 65 35 BALANCED BUTTON ADULT A MTWARE FOOD FOR DO NOUTORE POOR CHEND fiskies lil'shakes PURINA Dentalife DAILY ORAL CARE 10 nature RESEARCH RESULTS. PURINA ONE TRUE INSTINCT NUTRIENT-DENSE WITH A BLEND OF REAL TURKEY & VENISON 1 ATURALMVar PIRO Friskies Party MIX BEACHDE PURINA PRO PLAN PURINA Original With Bacon Made With REAL NET AUT 100 6oz Source: 1) NielsenIQ homescan panel, 52w/e Q3-22; 2) Dimensions research, 26w/e June 2022; 3) 1010data, 52w/e through November 2022 February 24, 2023 PURINA Your Pet, Our Passion. PURINA PRO PLAN 3 5 PURINA Busy BONE ORIGINAL LANGEN PURINA DOG CHOW Alugs Crafted in the USA $ #1 100 COMPLETE ADULT CHICKEN FLAVOR 10 RES Fancy Feast Tetiles 4.4 POUNDS NET WT 44 LB 20 14 C #1 company pet parents "trust completely" 2 household loyalty 1 Fancy Feast ONCAIN FEASE CLASSIC PATE WITH CHICKEN on Friskies Paté PURINA Cat Chow Complete Turkey & Gilets Dinner Savery XPURINA Friskies Seafood Sensations Sa Tuna Nestlé PURINA. SKA Friskies Seebod #1 share in e-commerce 3 24#25Growth acceleration driven by strong brand portfolio 3% 2018 Purina PetCare sales growth February 24, 2023 6% 2019 CAGNY 9% 2020 10% 2021 15% 2022 PURINA Two billionaire brands added since 2018 2018 PURINA Friskies PURINA Fancy Feast Your Pet, Our Passion. 2022 PURINA PRO PLAN PURINA ONE PURINA Friskies PURINA Fancy Feast Nestlé PURINA. 25#26Scaling and transforming supply to fuel growth Commitment to quality & safety 100 000 safety & quality checks conducted daily February 24, 2023 CAGNY KRONES iPanel 14 900 Digital transformation Krones Speed Nominal-770 Re-Code-50013 J OX Automation Artificial intelligence Robotic operations wrlitte PURINA Your Pet, Our Passion. Nest URINA Capex to unlock capacity FUTURE HOME OF Nestlé PURINA. USD 2 bn investment by 2025 Nestlé PURINA. 26#27Key consumer trends shaping the future of the pet care category February 24, 2023 CAGNY ● Evolving human food ideologies ● Proactive health management • Social responsibility Elevated & frictionless experience Nestlé PURINA. PURINA Your Pet, Our Passion. 27#28Purina PetCare key growth strategies February 24, 2023 CAGNY PURINA 1 3 2 Extend category leadership through innovation and premiumization Nestlé PURINA. Your Pet, Our Passion. Strengthen consumer connection via omni-channel and Purina ecosystem Create shared value via societal contribution for pets, people and planet 28#29Extending leadership through innovation and premiumization Elevate feeding experience Increase presence in emerging areas Drive science-based solutions PURINA PRO PLAN® NEW MICROBIOME BALANCE ADULT/ADULTE CALM & BALANCED SPULTINA ONE CHICKEN & RICE FORMULA/FORMULE POULET ET RIZ PURINA ONE PURINA PRO PLAN® ADULT / ADULTE CALM & BALANCED CAGNY CHICKEN & RICE FORMULA FORMALE POULET ET R2 IN ZONE WIDE 2 SERVINGS ROASTED TURKEY ENTRE Fancy Feast Source: NielsenIQ AOC + Pet retail + 1010data e-commerce + Idexx Vet Clinics (CY2019-2022) February 24, 2023 WE In Gravy ROASTED TURKEY ENTR with sweet potato 2 BRANCHENSTLACZ BRUAS TUVAL DE NI 28020 Friskies lil'shakes WITH TANTALIZING TUNA NET WT1.55 02 (459 Petites GOURMET CUBETTO TEABER BEEF ENTREE10 Gravy 2 SERVINGS/ Fancy Feast CRAF SERVE a gome Petites Fancy Feast Gems™ Friskies lil'shakes WITH FLAVORFUL TURKEY Weeded wat t fost complan NET WIT ESS OZ (43.9 NO ARCIAL PESCEMINES ORCHAR PURINA QUE AIND TENDER BEEF incy Feast Petites In Gravy TENDER BEEF ENTRÉE with carrots 2-YEASTA 9 TUES TETM NETW72817941802271281294140279TLES NETW2200094 2 ENTREES MOUSSE PATE WITH TUNA ENTREE PI Patė DER BEEF ENTRÉE AND A HALO OF SAVORY GRAVY PESUAINES DE GUIDES WITH Friskies lil'shakes SALMON acurao TENDER TURNEY EXTREE P TOUS ancy Feast 22 OZ TUBS Pret cat de NET WT 1.55 02 (459) Petites PHOSEMAINES DICKS Fato ER TURKEY ENTRÉE PROISO Friskies lil'shakes WITH ENTICINO CHICKEN NET NY 15502 (459) Your Pet, Our Passion. Fresh NN NIFB MENT Calmi Soin Jagum 999 PURINA PRO PLAN VETERINARY SUPPLEMENTS Calming Care Powdered Feline Calming Probiotic Supplement Veterinary Health Product 30 g (30 x 1 g sachets) PURINA PRO PLAN® VETERINARY SUPPLEMENTS FortiFlora FH CHEWABLE TABLET Cam Pro S-5 Taks NET WT 2.780209) Nestlé PURINA. REPURINA PRO PLAN VETERINARY SUPPLEMENTS Joint Care NET WT 2.6502 (75 29#30Driving strong growth via digitally-enabled sales Digitally-enabled sales expected to increase from 25% of pet care category in 2022 to 30% by 2025 Store-based e-commerce 5% Pure play e-commerce 20% Digitally-enabled = pure play + store-based e-commerce Source: NielsenIQ AOC + Pet retail + 1010data e-commerce + Idexx Vet Clinics (CY2019-2022) February 24, 2023 CAGNY PURINA Your Pet, Our Passion. Purina PetCare digitally-enabled sales more than tripled over the last 4 years > 3x USD 0.9 bn 2018 USD 3.1 bn 2022 #1 market share in digitally-enabled Nestlé PURINA. 30#31Delivering value for consumers via new business models petfinder petfinder Acquire first-party data ABOUT PET ADOPTION BREEDS V RESOURCES A DOG CARE Search Terrier, Kitten, etc. CAT CARE A Dogs STUSINA PRO PLAN Find your new best friend Browse pets from our network of over 11,500 shelters and rescues. Cats ALL PET CARE February 24, 2023 ALWAYS ADVANCING NUTRITION Learn more about how Purina and Petfinder are making a difference together > Enter City, State, or ZIP SHELTERS & RESCUES PURINA Other Animals Pets Available for Adoption Nearby CAGNY EXPLORE CAT Shelters & Rescues HELPING PETS O Sign Up Log in 0 VIDEOS Purina Drive loyalty via App my PURINA Pet Food Learn + PURINA Your Pet, Our Passion. Deliver proactive health solutions Yoshi Last seen 4h ago POWERED BY Nestlé PURINA. PURINA 78 lbs 3 oz TM 31#32Simplifying the pet parenting journey Notional representation of the pet care ecosystem February 24, 2023 CAGNY ESTABLISH EARLY CARE TRIAL FOOD & TREATS ACCLIMATION TRANSITION TO ADULT FOOD ACQUISITION PET PARENTING JOURNEY PURINA FIND SUPPORT NETWORK UNEXPECTED Your Pet, Our Passion. HEALTH EVENT PROACTIVE CARE TRANSITION TO SENIOR Nestlé PURINA. 32#33Removing friction in pet parenting experience via Purina ecosystem Petcare services network Retail partners Acquisition partners [₁ February 24, 2023 Petivity "my pup POWERED BY PURINA XPURINA Pet Food Finder Powered by XPURINA PURINA DIRECT my pup POWERED BY PURINA Notional representation of the pet care ecosystem [petfinder POWERED BY PURINA CAGNY Pet Food Finder Powered by PURINA ESTABLISH EARLY CARE TRIAL FOOD & TREATS ACCLIMATION ACQUISITION TRANSITION TO ADULT FOOD POWERED BY PURINA Loyalty Ⓡ Purina FIND SUPPORT NETWORK PURINA Your Pet, Our Passion. PURINA.com my PURINA UNEXPECTED HEALTH EVENT TRANSITION TO SENIOR PROACTIVE CARE Community partners PURINA PRO PLAN® Vet Direct@ NUTRITION. DELIVERED. PETQCHECK By PURINA Pet Food Finder Powered by XPURINA Data-powered insights enable Purina PetCare to drive higher consumer loyalty Nestlé PURINA. Veterinary partners 33#34Creating shared value by addressing key consumer needs Individuals Source: 2022 RepTrak survey, N=1065 PURINA RepTrack score 74.9 February 24, 2023 DOG CHOW CAGNY SERVICE DOG SALUTE Families & communities 22 PURPLE LEASH FURINA- to f GedRow L Our planet through sustainability PURINA Your Pet, Our Passion. AND HERE. Purina U.S. reputation score significantly ahead of pet care industry and U.S. average, reaching all-time high in 2022 ✪ Nestlé PURINA. 34#35Purina PetCare well-positioned to continue winning in pet care ● ● ● ● ● Operating in an attractive high-growth category Portfolio of leading brands, built on deep consumer insights Deep knowledge of pet nutrition to drive world-class innovation Committed to continued profitable growth Creating shared value for all stakeholders, pets and their owners February 24, 2023 CAGNY PURINA Your Pet, Our Passion. Nestlé PURINA. 35#36THANK YOU PURINA Your Pet, Our Passion. 36