#1Nestlé investor seminar 2022 A global leader in Consumer Care Don Kerrigan CEO of Nestlé Health Science U.S. Nestlē HealthScience®#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 This presentation contains certain financial performance measures which are not defined by IFRS. Management believes that these non-IFRS measures provide additional useful information to assess the financial and operational performance of the Group. Such measures may not be comparable to similar measures presented by other companies and are explained and/or reconciled with our IFRS measures (Consolidated Financial Statements) in the Nestlé Group Alternative Performance Measures (APMs) document available on our Investor Website. November 29, 2022 Nestlé investor seminar 2022#3Consumer Care is a highly attractive global category 2 VMS Active Nutrition Highly attractive category Market size Sources: Euromonitor, internal analysis November 29, 2022 CHF 140 bn CHF 29 bn Consumer-driven category driven by trusted branded players Fragmented market where scaled players overperform Innovation and premiumization driving growth Resilient category during economic downturns CAGR 2018-21 N ~ 8% - 6% N CAGR 2022-26 ~ 5% Megatrend towards holistic wellness N 6% Long-term, structural drivers of growth Shift towards self-care driven by rising healthcare costs Aging population: seniors spend > 2x per capita Parents prioritizing clean & healthy options for their kids Nestlé investor seminar 2022#4Category is highly consumer-driven with brands playing a significant role 3 Branding impacts consumer preferences and behaviors Brand is one of the most influential factors driving Consumer Care purchases Consumers prefer trustworthy brands backed by research and science Consumer awareness developed through scaled distribution and brand building campaigns Source: Euromonitor & internal analysis November 29, 2022 Brands are driving category growth % growth 2018 to 2021 15% Branded Business 2% Private Label Nestlé investor seminar 2022#5COVID accelerated underlying trends leading to elevated sales and enduring category changes 4 Increased category usage to manage health & wellness Increase in usage rates (U.S.) 2022 vs. 2020 ■2020 2022 58% 83% Take vitamins & supplements 31% 54% Consume proteins Brought new users into the Consumer Care category Change in the # of U.S. household buyers 2022 vs. 2019 Sources: Brado U.S. health & wellness attitude & usage study (Feb 2022); IRI November 29, 2022 VMS Active Nutrition +5.1 m +8.6 m 90% 60% 30% Penetration levels remain elevated post-pandemic U.S. household penetration 80% 49% 2019 -VMS 2020 - 2021 83% -Active Nutrition 55% 9M 2022 Nestlé investor seminar 2022#6Maintaining solid growth despite an elevated base of comparison 5 20% 15% 10% Average market: 9% 5% Average NHSC: 12% .......... 0% ....... ....... 2019 Pre-COVID ....... 2020 COVID Pro forma done to include Orgain and The Bountiful Company as if these companies were acquired on 1st January of their acquisition year Market based on IRI data November 29, 2022 2021 NHSC U.S. Consumer Care U.S. Consumer Care market 9M 2022 Post-COVID ......... Nestlé investor seminar 2022#7NHSc is the leading nutrition-focused Consumer Care player 2021 Global Consumer Care market share (in VMS and Active Nutrition categories) 5% 4% 3% 2% 1% 0% NHSc Haleon Bayer Pharmavite Glanbia Abbott Sources: Euromonitor & internal analysis November 29, 2022 Benefits of focus and scale ● ● Category-specific investments and capability building ● Comprehensive consumer understanding • Scale science and innovations across multiple brands and categories Strong retailer partnerships Vertically-integrated value chain with streamlined and efficient operations Nestlé investor seminar 2022#8Brands are positioned across key price points and channels 7 Premium Mass premium Mainstream accessible Value-focused November 29, 2022 Self selected Garden of Life VITAL PROTEINS Orgain. NATURE'S BOUNTY. SOLGARⓇ Puritan's Pride. nourish what's inside Osteo Bi-Flex® JOINT HEALTH* Health Care Professional endorsed pure encapsulations Wobenzym BOOST Nestlé investor seminar 2022#9Driving further premiumization through enhanced benefits 8 Implementing strategy within VMS business... NATURE'S BOUNTY Melatonin 10mg 100% Drup Fe Sleep Aid Promotes Relaxation & Sire ● SLEEP HEALTH 600 Y SUPET Melatonin (10mg) $0.25 / tablet 1.7x premium November 29, 2022 3 Sleep $0.44 / tablet NEW MAXIMUM STRENGTH DRUG-FREE SLEEP AID WAKE UP FEELING REFRESHED NATURE'S BOUNTY. Sleep3 1 CALMING EFFECT 2 FALL ASLEEP FASTER 3 LONG LASTING SLEEP TRIPLE ACTION TIME RELEASE • Innovative triple action tablet with time release technology • Includes both quick and extended-release Melatonin Features chamomile, lavender, lemon balm, and valerian root 30TRI-LAYER TABLETS ...and rolling it out to other product lines FLASHER PROTE Orgain. Organic Protein PROTEIN POWDER 120 69 219 09 Organic plant protein $2.00 / serving 2x premium Organic plant protein meal $4.00 / serving Orgain O Perfect Meal ORGANIC COMPLETE • Includes 80+ superfoods and vitamins & minerals • Features 5g of healthy fats and 10g of fiber • Leverages a comprehensive enzyme blend to support digestive health Nestlé investor seminar 2022#109 Boosting growth in the core U.S. market growth ('21 vs. '20) NHSC U.S. share & share growth ('21 vs. '20) Current NHSC U.S. status Key U.S. Brands Source: Euromonitor, Nutrition Business Journal, IRI November 29, 2022 VMS 7.7% 2 14.3% (+ 50 bps) #1 brand on Amazon & specialty channel NHSc has leading brands in the U.S., that can be leveraged internationally #2 in multi outlet channel NATURE'S BOUNTY. Garden of Life Adult nutrition 10.3% 28.0% (+ 10 bps) #2 brand BOOST Active Nutrition Plant protein 9.8% 18.7% (+ 80 bps) #1 plant-based protein in powders and shakes Orgain. Collagen 48.2% 50.0% (+ 130 bps) #1 brand with leading positions across retailers VITAL PROTEINS Nestlé investor seminar 2022#1110 逃 49 Consumer Care global market: CHF 169 bn 39 148 28 Boosting growth in the core Source: Euromonitor U.S. China Western Japan Europe November 29, 2022 Key markets are 85% of global market 20 13 9 6 Per capita spend (CHF) 40 101 13 U.S. is the largest market, with significant international growth opportunities 19 O Latin Eastern South Australia All other America Europe Korea 3 110 25 100 6 International growth drivers Capitalizing on global trend towards health and wellness Capturing international per capita consumption potential Creating globally relevant Consumer Care brands Leveraging science & innovation across multiple markets and brands Nestlé investor seminar 2022#1211 逃 Boosting growth in the core International business to reach CHF 1 bn by 2025, with a 20% CAGR Global brands will be the primary growth drivers NATURE'S BOUNTY. Garden of Life November 29, 2022 Orgain. Strategy focused on scaling U.S. brands internationally SOLGARⓇ Puritan's Pride. nourish what's inside VITAL PROTEINS pure encapsulations muun Roll out focuses on strategically deploying brands in select geographies Prioritizing expansion in key markets and channels with largest upside potential Building global brands by driving awareness and education Executing a tailored route-to-market approach based on local market dynamics Leveraging e-commerce to drive overall strategy across brands and geographies Nestlé investor seminar 2022#13# of geographies 40 30 20 10 12 逃 0 pure encapsulations Boosting growth in the core November 29, 2022 Orgain. One geography can contain multiple markets Garden of Life Significantly increasing the geographic footprint of all our global brands 2022 VITAL PROTEINS nuun 2025 NATURE'S BOUNTY. SOLGARⓇ Geographic expansion is following a tiered approach Examples Greater China Region Japan South Korea Must win Accelerate growth Invest to develop Canada Brazil Mexico France Italy UK Oceania India CTürkiye Nestlé investor seminar 2022#1413 逃 Boosting growth in the core Doubling sales in the first year of acquisition CHF 225 m 2020 FY-20 sales reflect a pro forma view November 29, 2022 CHF 450 m Building on U.S. success to expand Vital Proteins internationally 2021 Globally recognized partner International expansion strategy Localized campaign & activations NHSc infrastructure & capabilities VITAL PROTEINS PEPTIDES Purce de grignorant www.mangerbouger.fr 20g de colágeno Para un aspecto joves Piel de apariencia fresco y firme Para ayudar a un cabello y uños más fuertes Sin gluten y sin ingredientes artificiales VITAL PROTENS COLLAGEN ,,MEIN BEAUTY-BOOSTER HEIBT VITAL PROTEINS!" Für ein strahlendes Aussehen - schöne Haut, Haare und Nägel Regulatory & quality expertise Global operations network Le bien-être est Vital* Luka pur site da se 4. zanimmar tara de sana La sapere si are prot ALPITING Kala Local sales & marketing teams Nestlé investor seminar 2022#1514 Differentiating through insights Key Insights Waking up in the middle of the night. is a top consumer problem • Most supplements only help consumers fall asleep November 29, 2022 NEW MAXIMUM STRENGTH DRUG-FREE SLEEP AID* WAKE UP FEELING REFRESHED NATURE'S BOUNTY. Sleep3 TRIPLE ACTION TIME RELEASE TECHNOLOGY Pes CALMING EFFECT With L-Theatrine & Nighttime Herbal Blend 2 FALL With Quick Release Melatonin 3 LASTING SLEEP With Time Release Melatonin DIETARY SUPPLEMENT Nature's Bounty Sleep 3 First-to-market with a new format and technology Science Sensory Story Results Tablet delivers three benefits Layer 1: Immediate release melatonin and L-theanine Layer 2: Extended-release melatonin Layer 3: Immediate release herbs, melatonin and L-theanine Tri layer technology visually reinforces three benefits The first and only maximum strength tri-layer sleep supplement that helps you Leading melatonin item COSTCO WHOLESALE ● ● ● 3 Benefits In One Pill TRIPLE ACTION TIME RELEASE TECHNOLOGY Relax and unwind Fall asleep faster Achieve a long-lasting sleep +30% incremental to the sleep category Kroger Nestlé investor seminar 2022#1615 Differentiating through insights Key Insights • Parents are looking for low-sugar and convenient offerings that fill nutritional gaps Parents are prioritizing organic offerings because they are considered "healthier" & "safer" ● PLANT-BASED PROTEIN Orgain. KIDS Plant Protein ORGANIC NUTRITIONAL SHAKE JOLANT 23 VITAMAS CHOCOLATE No Dairy Sy ingredients NET & FLOZ (137) 2 GRASS EID PROTEIN Orgain. KIDS Protein ORGANIC NUTRITIONAL SHAKE PROTE ATAMINEL CHOCOLATE Noy ingred Gute Non-GMO NET 125 FL (24) ORGANE Orgain's Kids ready-to-drink Helps parents fill kids' nutritional gaps Science Sensory Story Results Healthier formula & cleaner ingredients ● ● *Made without milk, wheat, soy, eggs, peanuts, tree nuts, sesame, fish, or crustacean shellfish ingredients Source: IRI November 29, 2022 ● Fastest growing kids ready-to-drink brand 40% less sugar than the leading kids high protein shake* Upgraded protein: grass-fed dairy or plant-based U.S. Department of Agriculture Organic & non-GMO No artificial sweeteners, flavors, or preservatives Convenient & portable ready-to-drink format • Delicious kid-friendly flavors: chocolate, vanilla & strawberry A convenient way to ensure kids are getting the well-rounded nutrition they need Orgain. #1 kids shake brand MASS-FED PROTEIN Orgain. KIDS Protein ORGANIC NUTRITIONAL SHAKE amazon Nestlé investor seminar 2022#1716 ● ● ● Unlocking growth via The Bountiful Company acquisition portfolio management strengthened our global leadership Pre-acquisition Selection of premium VMS and Active Nutrition brands Fit for purpose sales capabilities specific to each business unit Scaled liquids and powders manufacturing facilities BOOST November 29, 2022 Garden of Life pure encapsulations ● ● ● The Bountiful Company Leading VMS brands across key channels and price points Multi-functional dedicated retail sales organization Global VMS supply chain NATURE'S BOUNTY. SOLGARⓇ Puritan's Pride. nourish what's inside Current state ● Integrated leadership structure • Portfolio of Consumer Care brands to scale globally Best-in-class partnerships across retail and health care • Comprehensive and vertically- integrated supply chain Nestlē HealthScience Nestlé investor seminar 2022#1817 Scaling winning formulas and technologies across the portfolio Leveraging probiotic technology and expertise across VMS portfolio NO REFRIGERATION REQUIRED Garden of Life Dr. Formulated PROBIOTICS Once Daily Women' VAGINAL DIGESTIVE+IMMUNE SYSTEM SUPPORTS WOMEN'S HEALTH SUPPORTS I E SYSTEM & DIGESTIVE y RECICIED Unlocking growth via portfolio management 50 BILLION Once Daily Women's GUARANTEED VAGINAL DIGESTIVE IMMUNE SYSTEM 16 PROBIOTIC STRAINS GLUTEN FREE DAIRY FREE SOY FREE 30 VEGETARAN CAPSLES RAW PROBOTIC SUPPLEMENT Carden of Life Dr. Formulated PROBIOTICS November 29, 2022 50 BILLION GUARANTEED 16 PROBIOTIC STRAINS SPATE HOMEN'S HEAL SE SYSTEM HEALTH RUTEN FREE DAIRY FREE SOY F RAW PROBIOTIC SUPP S pure encapsulations PureGG 25B Gluten free, Dairy-free, Soy-free on-GMO & Hypoallergenic Dietary Supplement 60 CAPSULES O Driving growth through expanded portfolio and increased commercial scale Establishing NHSc as the preferred partner to retailers Mobilized unified NHSc sales force to secure incremental distribution muun BOOST Garden of Life Standing up NHSc joint business planning process at select customers Walmart WHOLE FOODS MARKET Increasing productivity of marketing and trade spend Fall to Your 1 Health & Wellness Routine Health & Wellness Routine Ongin amazon G Cross-brand programming and promotions NATURE'S BOUNTY. Orgain. BOOST Increased advertising productivity through centralized coordination Nestlé investor seminar 2022#1918 Unlocking growth via portfolio management Manufacturing Supply chain Selling, General and Administrative November 29, 2022 • Streamline product formulations and SKUs Insource powders and liquids Leverage scale to bring down supplier expenses ● ● ● ● ● Expanding margins over the next five years by executing a mix of efficiency initiatives ● Optimize distribution network Improved planning accuracy by onboarding businesses to Nestlé's systems Streamlining of overhead and back-office functions Capture marketing efficiencies Nestlé investor seminar 2022#2019 Unlocking growth via portfolio management Expanded supply chain network is driving improved service levels 10x increase to manufacturing and packaging capacity Pre-acquisition November 29, 2022 Post-acquisition Leveraging scale and new capabilities to drive operational efficiencies Expanded capabilities unlocking in-sourcing opportunities Manufacturing capabilities 8 Liquids Powders Soft gels & gummies 2 Solid dose Scaled organization is delivering procurement savings Using scale to achieve efficiencies with key suppliers Nestlé investor seminar 2022