#1Unilever at CAGNY Alan Jope & Graeme Pitkethly 16th February 2021 HAND SANITIZER HORES PIASK VIRUSES Total 10 7 WORLD'S NO. 1 Lifebuoy ANTIBACTERIAL HANDWASH 10Hr GERM PROTECTION Silver Protect WORLD'S NO. 1 25% Lifebuoy U Antibacterial Bodywash FIGHTS 99.9% BACTERIA AND VIRUSES Total 10 activ silver+ formula WORLD'S NO.1 Lifebuoy L FIGHTS 99.9% BACTERIA AND VIRUSES Unilever WORLD'S NO. 1 Lifebuoy Antibacterial Bodywash FIGHTS 99.9% BACTERIA AND VIRUSES Total 10 active formula#2Unilever Unilever at CAGNY 1. Unilever 2. Strategic choices 3. Operational excellence and performance 4. Multi-year financial framework 5. Conclusion N#3Unilever Safe harbour statement This announcement 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 results, 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 results 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 results 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; 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 Annual Report on Form 20-F 2019 and the Unilever Annual Report and Accounts 2019. 3#4Unilever Unilever 191 countries 2.5 billion consumers Developed markets 42% Emerging markets 58% Multi-category leadership Home Care 21% Foods & Refreshment 38% Beauty & Personal Care 41% 13 billion Euro brands Dove HELLMANN'S EST.1913 Lipton Sunlight SINCE 1839 Knorr 93% local leaders. #1 CPG employer in 54 countries Rexona Lifebuoy OMO M MAGNUM LUX sunsilk AXE 4#5Unilever Our differentiating strengths 1. Powerful portfolio of leading category and brand positions NUEVO MEN Rexona clinical 3x MEN Rexona clinical EXPERT aerosol 3x pboo 96 Rexona clinical 3x 3x STRONGER PROTECTION FOR REALLY REALLY REALLY TESTING DAYS Global category leadership positions 81% brands #1 or #2 in their market 50% of turnover from 13 billion Euro brands Most effective marketer for 4 consecutive years 5#6Unilever Our differentiating strengths 2. Strong presence in growth markets of the future Leading position in growth markets Market development a core capability 40bn consumer reach points; more than any other competitor 93% local leaders 6#7Unilever #1 or #2 in 7 of 10 top future growth markets Unilever market position #1 14.1 #4 2.8 China 8.6 5.0 India 4.7 #7 USA 9.4 #1 2.2 2.5 Indonesia #1 0.9 1.0 Turkey #2 0.7 1.0 Vietnam #1 0.7 0.6 Pakistan #2 0.7 Absolute GDP growth 2020-2030 US$trn Unilever sales €bn 2.4 #1 Brazil 0.7 2.4 #3 United Kingdom 0.7 1.2 Philippines#8Unilever Our differentiating strengths 3. The global leader in sustainable business TOUGHER. KINDER TO ON STAINS OUR WORLD NEW PLANT BASED 100% RECYCLED STAIN BOTTLE REMOVERS + Persil blo DIRT IS GOOD X DIRT IS GOOD Top of GlobeScan Sustainability Leaders survey for last 10 years 'A/A-' Ratings in CDP: Climate, Water and Forest Leader in Dow Jones Sustainability Index since 2014 Strategy fully embedded in our business and brands with purpose 8#9Strategic Choices#10Unilever Five strategic choices 1. Develop our portfolio into high growth spaces 10#11DIANCE Tough on stains 0 ECOACTIVE CLEAN SKINCARE REN 30 ml e/1.02 fl. oz US ÉCLAT RADIANCE DE TEINT SÉRUM ERFECTEUR SERUM We will continue to evolve our portfolio towards higher growth segments in home care, beauty, personal care, and foods. IUM®Ⓡ BLE TED CARAMEL#12Unilever Clear criteria for investment choices C Scale Hygiene ✔ High growth Skin care Potential in growth countries Living proof. Prestige beauty M Route to leadership OLLY GOODETE STRESS OLLY BEAUTY OLLY SLEEP Functional nutrition oOo. Branding & technology sensitive HELLMANN'S HELLMANN'S HELLMANN'S VEGAN MAYO GARLIC VEGAN MAYO CHIPOTLE VEGAN BACONNAISE Plant-based foods 12#1313 €16bn M&A capital deployed '15-20 4% 5% 17% 72% 3% Laundry Home & Hygiene Skin Cleansing Deodorants Oral Care Hair Care Skin Care Prestige Beauty Functional Nutrition Plant-based Foods Scratch Cooking Ice Cream | * 3 Priority focus area Unilever Portfolio evolution into higher growth spaces#14Unilever Portfolio change 2015 Mazola 50191 Just for Me Wetter Lipton Kazinga Cooking Oil INGMAN 2016 Ades La Fármaco ARGENTINA Divestments 2017 FLORA THE BAKING COOKING & SPREADS COMPANY 20 2018 alsa edd! >€3bn turnover 2019 XIRA BRESLER I chicken/ Blue Air Cabin Air Club 2020 BERTOLLI >€5bn turnover (10% of portfolio) In progress 2021 Lipton Tea PRE Unilever BEAUTY & PERSONAL CARE Tail BPC brands >€2bn turnover 14#15Unilever Building Prestige Beauty and Functional Nutrition to scale Prestige Beauty 2015 Murad. REN CLEAN SKINCARE Kate Somerville Skin Health Experts 2016 dermalogica a skin care system researched and developed by The International Dermal Institute 2017 HOURGLASS ماه 2018 Living proof. C 2019 €0.7bn GARANCIAⓇ -PARIS- L'ALCHIMIE BOTANIQUE DU FUTUR 2020 TATCHA Functional Nutrition 2018 2019 2020 quilibra OLLY Horlicks LIQUIDIV Fueling Life's Adventures. SMARTYPANTS *Annualised for all acquisitions €1.1bn* +25% growth 2020 Annualised 15#16Unilever Five strategic choices 1. Develop our portfolio into high growth spaces 2. Win with our brands as a force for good, powered by purpose and innovation 16#17Unilever Win with our brands as a force for good, powered by purpose and innovation World class technology P Rexona mu CLEAR ● ● Rexona ● Rexona Rexona maximum Rexona maximum BLAN 3x 3x CLEAN 96 Rexona maximum aerosol Purina Rexona maximum Cutting edge technology leading to product superiority: 3x Rexona BPC: Invictus AP technology F&R: Plant protein structuring HC: Eco-design technology Lifebuoy 7 Superior product functionality Lifebuoy som arbeidet handwash Total 10 ● ● IMMUNITY BOOSTING LIFEBUOY THE WORLD'S 1ST Superior to competition in tests: BPC: 58% F&R: 72% ● TO REPORT ITS HANDWASH AND SANITIZER ARE OVER 99.9% EFFECTIVE AGAINST THE COVID-19 CORONAVIRUS est Washing hands weg & weer or of alcoverin HC: 66% Stepping up R&D investment over next 3 years Purpose drives growth Dove • Purpose drives brand power, brand power drives growth Purposeful brands growing 2x 17#18Unilever Five strategic choices 1. Develop our portfolio into high growth spaces 2. Win with our brands as a force for good, powered by purpose and innovation 3. Accelerate in USA, India, China and leverage emerging markets strength 18#19Unilever Sharpening our focus in future growth markets USA • €9bn business, 18% of turnover • 10% of global growth to 2030 Bespoke innovation India • No. 1 FMCG; 10% of turnover 20% of global growth to 2030 Co-located R&D China • €3bn business, 6% of turnover • 30% of global growth to 2030 First call on capital Leverage EM strength • €1bn+ businesses in Brazil, Indonesia, Philippines, Turkey, Thailand, Mexico • eB2B to enhance distribution strength 19#20Unilever Five strategic choices 1. Develop our portfolio into high growth spaces 2. Win with our brands as a force for good, powered by purpose and innovation 3. Accelerate in USA, India, China and leverage emerging markets strength 4. Lead in the channels of the future 20#21Unilever A future-fit channel strategy eCommerce Growth +61% 9% eCommerce % of Sales eB2B excludes UFS Growth rates FY 2020 ** E2 Alibaba.com COMPRA AGORA Omnichannel +99% Pure play +48% eB2B +65% Brazil +44% China +54% USA +123% 21#22Unilever Five strategic choices 1. Develop our portfolio into high growth spaces 2. Win with our brands as a force for good, powered by purpose and innovation 3 Accelerate in USA, India, China and leverage emerging markets strength 4. Lead in the channels of the future 5. Build a purpose-led, future-fit organisation and growth culture 22#23Unilever Driving growth through capacity, capability and culture Digital Compromiso Advanced digital culture Inclusion Equity, diversity and inclusion across multiple dimensions Skills 38 degreed. Continuous upskilling Savings Fuel4 Growth Strong savings programmes 23#24Unilever Five strategic choices 1. Develop our portfolio into high growth spaces 2. Win with our brands as a force for good, powered by purpose and innovation 3. Accelerate in USA, India, China and leverage emerging markets strength 4. Lead in the channels of the future 5. Build a purpose-led, future-fit organisation and growth culture Operational Excellence 24#25Operational Excellence and Performance#26Unilever Driving operational excellence Improved penetration Impactful innovation Design for channel Purposeful brands Fuel for growth 60% cells improving Covid-19 response: Lifebuoy, Dove, Domestos eComm: +61% USG FY '20 Nearly 60% of brands seen as more purposeful Free cash flow: €7.7bn 26#27Unilever Long term growth and margin improvement 3.6% 2016 Underlying Sales Growth 2.8% 2017 3.2% 2018 2.9% 2019 I Food I Service I impact -1.6% 1.9% 2020 16.4% 2016 Underlying Operating Margin 17.7% 2017 18.6% 2018 19.1% 2019 I COVID ! impact 1-100bpsl 18.5% 2020 27#28Unilever % Business winning value share since 2017 44% Improving competitiveness Dec 17 48% Mar 18 44% 40% Jun Sep 18 18 42% 47% 49% 47% 44% Dec Mar Jun Sep Dec 18 19 19 19 19 % business winning, MAT 48% 47% 51% 53% Mar Jun Sep Dec 20 20 20 20 % Business winning value share during 2020 47% Dec 19 46% Mar 20 49% Jun 20 51% Sep 20 % business winning, last 12 weeks 65% Dec 20 28#29Unilever Competitive growth across markets and categories in Q4 Markets 13/15 markets >50% business winning value share 50% % business winning value share last 12 weeks Unilever Global Average Eastern Europe North America Categories 10/11 categories >50% business winning value share 50% Unilever Global Average Fabric Sensations 29#30Unilever Competitive growth across markets and categories in Q4 Markets 13/15 markets >50% business winning value share 50% India China Unilever Indonesia Global Average North America Market Indonesia India China North America Key Markets Market Growth (10)% 5% 4% 15% Unilever USG 0% +7% +9% +7% 30#31Unilever Disadvantaged portfolio during pandemic Strongly Advantaged Advantaged Disadvantaged Strongly Disadvantaged Markets North America UK & Ireland Australia & NZ South Asia, LatAm, North Asia, Africa, Middle East, Europe South East Asia % Unilever Turnover €bn 19% 10bn 6% 3bn 61% 31bn 14% 7bn Categories Hygiene In Home Food Laundry Personal Care Prestige Out of Home Food % Unilever Turnover €bn 18% 9bn 29% 15bn 43% 22bn 10% 5bn 31#32Unilever Portfolio to gain from post pandemic recovery 3-4% 1% Hygiene 18% '17-'19 '20 16% '17-'19 In Home Foods 30% 12% Growth will moderate '20 Post COVID-19 Gradual shift back to OOH Post COVID-19 3-5% '17-'19 2% '17-'19 Laundry 16% 1% '20 -4% Recovery as schools and offices reopen Personal Care 27% '20 Post COVID-19 Rebound based on social occasions Post COVID-19 9-10% Prestige 1% '17-'19 '20 3-6% -2% '17-'19 Out of Home Foods 8% Rebound to high growth -26% '20 Post COVID-19 Gradual recovery as eat-on-the-go returns Post COVID-19 32#33Unilever Underlying operating margin drivers (0.4)% (0.4)% Gross margin (0.3)% COVID mix impact COVID on cost H12020 +0.5% Other GM ● +1.0% Brand & marketing investment (0.2)% Overheads Gross margin (0.9)% (0.4)% COVID mix impact H2 2020 (0.5)% COVID on cost +0.0% Other GM Mix: Q1 headwind, outlook depends on COVID recovery COVID on-cost: lapping Q2, eases with COVID recovery BMI: investment spread more evenly throughout 2021 Commodity costs & FX: headwind to continue into H1 (1.0)% +0.1% Brand & Overheads marketing investment 33#34Multi-year financial framework#35Unilever Multi-year financial framework Mi Growth Underlying sales growth ahead of our markets 3-5% USG Profit Profit growth ahead of sales growth Delivering long term value creation through earnings growth 08 € Cash Sustained strong cash flow Growing dividend 35#36Unilever Other long term financial metrics Savings €2bn per annum Restructuring investment €1bn for 2021 and 2022, lower thereafter ROIC Mid to high teens Leverage 2x approx 36#37Unilever Capital allocation ● Operational investment Brand growth and innovation • Sustainability Channel and digital capability ● ● Portfolio reshape Acquisitions Disposals Partnerships Returns to shareholders Dividends Share buybacks Minority buybacks 37#38Conclusion#39Unilever Sustainable business driving superior performance Operational excellence stepping up performance Strategic choices to accelerate growth Continued portfolio evolution Delivering long term value creation 39#40U Unilever