#1Unilever at CAGNY Alan Jope & Graeme Pitkethly 22nd February 2022 1 Dove deep moisture skin-natural nourishers. instantly soft skin, lasting nourishment moisture renew blend Unilever 100% recycled bottle#2Unilever Contents Unilever overview 2021 results Strategic choices Summary Graeme Pitkethly Graeme Pitkethly Alan Jope Alan Jope 2#3Graeme Pitkethly Unilever overview and FY 2021 results 22nd February 2022 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 Home Care 20% Unilever Foods & Refreshment 38% Note: all figures as of full year 2021 Beauty & Personal Care 42% 3.4bn people use a Unilever product everyday Developed Markets 42% Emerging Markets 58% WWW.GET WHOR C ONION GET 0000 #1 CPG employer of choice in over 50 markets AMMA 5#6Unilever Unilever €27bn from our top 13 brands Dove BEN&JERRY'S Knorr M MAGNUM LUX Lipton Sunlight AXE OMO Note: all figures as of full year 2021 Sunsilk Rexona HELLMANN'S EST.1913 4 consecutive years as most effective marketer >80% of turnover increasing or stable brand power LONG LIVE CLOTHES Degree ADVANCED PROFILE PRO-FIREE Omfo Omfort fort ultimate care ultimate care ate Cafe BREAKT 72H NONSTOP PROTECTION WORKS HARDER THAN REGULAR ANTIPERSPIRANTS It Won't Let You Down. Unilever 1.7bn digital IDs collected for targeted marketing NEW Top of GlobeScan Sustainability Leaders survey for over 10 years COMO TOUGH ON STAINS KINDER TO THE PLANET MAKE TASTE, NOT WASTE. ATTACKS STAINS THE PLANET OMO T NP 2 DIRT IS GOOD 0 HELLMANN'S REAL MAYONNAISE Leader in Dow Jones Sustainability Index since 2014 6#7Unilever 2021 Delivery FY Growth Underlying Sales Growth 4.5% 1.6% Underlying Volume Growth ¹Moving Annual Total / Last 52 weeks 0.3% Pricing Growth 1.0% 1.6% 4.1% FY'20 Q1'21 Q2'21 Q3'21 4.9% Q4'21 Competitive Growth 53% % Business Winning MAT¹ 7#8Unilever 2021 delivery Margin -10bps vs 2020 18.4% Earnings +5.5% current +7.8% constant Cash Consistent strong cash flow €6.4bn ROIC 19% 18% 18% 17% 11 11 2017 2018 2019 2020 2021 19% Returns to shareholders +3% dividend €3bn share buy back 8#9Unilever Performance accelerating USG % 51% 3.6% 2016 2016 %Business Winning (MAT) 44% 2017 42% 2.8% 2018 2017 44% 2019 USG: 2016-2018 restated due to treatment of hyperinflation UOM: 2017 & 2018 restated due to treatment of IFRS16 53% 2020 3.2% 2018 53% 2021 2.9% 2019 UOM% 16.4% 2016 17.7% 2017 1.9% 2020 18.6% 2018 3.2% 2-year CAGR 19.1% 2019 4.5% 2021 18.5% 2020 18.4% 2021 9#10Unilever GM (bps) UPG% NMI¹ (€bn) Looking forward: Unprecedented inflation, margin recovery expected (150) 100 (30) (160) 30 110 10 80 50 60 7.2% Margin to be restored after 2022, with the majority coming back in 2023 2.4 4.8% 1.4 3.3% 0.6 50 30 (55) (120) Includes Covid costs & mix (90)bps headwind 1.6% 0.2 0.3% 0.1 2.9% 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 3.6 2022 10#11Unilever 4.5-6.5% price led growth ● Guidance and building blocks of margin recovery Maintain competitive levels of spend in BMI, R&D and Capex ● 2022 Guidance ● 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 2023 and 2024 margin recovery Input cost deflation Pricing carry over Savings delivery 11#12Alan Jope Strategic Choices 22nd February 2022 Dove deep moisture skin-natural nourishers. instantly soft skin lasting nourishment. moisture renew blend *** 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#14Unilever Winning with our brands Dove Lipton 13 €1bn+ brands 6.4% FY'21 USG 50% of turnover BEN&JERRY'S Knorr M M MAGNUM OMO Sunsilk Sunlight HELLMANN'S EST.1913 AXE LUX Rexona 71% of turnover tested winning vs competition LUX Product superiority NEW Veggie VS 47% in 2019 Sunlight EXTRA EXPERT M CORDS Dove Persil non bio Revons 32 Ⓒ X CLASSICO orgetto HYGIENE BROJERRY'S NOW! HELLMANN'S REAL Bigger, better innovation >€1bn 2x incremental turnover vs 2020 HASTA 20% DE AHORRO 3L ala jabón liquido p DILUIR Ma NUEVO alaPARA DILUIR jabón líquido MÁS NÓMICO MISMOS RESULTADOS 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 USG% 0% '17 €10bn turnover '17 0.9% '18 %BW (MAT) 60% '18 0.2% '19 '19 7.7% '20 '20 3.7% ¹21 >65% '21 Shea Moistur RAW SHEA BURE RETENTION SHAMPOO Ke Kalp & Arp TAMAGED LIQUIDIM BE HYDRATION MULTIPLIER Growing competitively CIT M Sheaflettive DEEP TREATMENT Sv & dig 326 mie LIQUIDV ENERGY MULTIPLIER SUPERCARD MATN ETT Eren Moistur RAW SHEA BUTTER RESTORATIVE CONDITIONER Sea Kelp & Argor Gi 15 May ay Me Wh LIQUIDIV SLEEP MULTIPLIER AT THE CTT =Zzz 15.fem step faster, 2 year CAGR >5% ME Degre MOTIONSE DRYSPRA EVEREST 48H Weird MEN Degree MOTIONSENSE DRYSPRA EXTREME 48H INTEL ME Degre MOTIONS DRYSPR OVERTI 48 412 MEN Degree MOTIONSense DRYSPRAY ADVENTURE 48H 615 ACTIVE SHIBED 3 PROTECTION MEN egree MOTIONSense DRYSPRAY DRYSPRAY 48H MOTION 77 MEN WHI Ba MEN egree OTOwsense RYSPRAY PORT DEFENSE egree PTIONSense 48H MOTION NEKS DL RUSH 48H MOTION Prestige Beauty and Health & Wellbeing contributing strongly 16#17Unilever Accelerating in India USG% 7.7% '17 €5.6bn turnover '17 11.2% '18 %BW (MAT) '18 6.1% '19 '19 -1.7% '20 '20 13.4% '21 >75% '21 Simple Simple Simple Simple 10% 10% 10% C+l+F NEW HYALURONIC ACID+S BOOSTER YOUR RESTOR High competitiveness TEETH SENSITIVITY REPAIR NIACINAMI BOOSTER S sensitive HEMP SEED OIL 83 Simple #Strong Yetkind supercharged booster serums sensitive MINERAL ACTIVE™ UPTO 100% COVERAGE OF SENSITIVE AREAS IN 3 DAYS Sensitiveness refers to open destinal tubules. Besed on invitro study, 2019 CPG leader Dove body love Light Ca Unconditional Love & Care for all skin types with Dove Body Love Range H V Dove NO BUS Dove Dove e Sky Strong focus on market development 17#18Unilever Accelerating in China USG% 6.9% '17 20% €3.3bn turnover '17 4.2% %BW (MAT) '18 '18 7.9% '19 '19 2.0% '20 '20 14.3% ¹21 >55% ¹21 家樂 148 家樂 t. 桂花红烧酱 【家樂 黑椒酸辣 APAR MIAM 家樂 鸡精 调味料 家樂 Cat 3024 S 家樂 e120 mL 4 ROLL Competitive, volume-led growth 17:5 Kate Somerville Eradikar ving Blemish Blemish Gel Cleanser anti-imperfections clarifia Kate Somerville Eradikate C20 mit RC 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. FRODERMA 国米米精馬洲及西 34465 DAN 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 * Omni +31% 2% 44% 2021 eCom growth ¹16 '17 EL Alibaba.com 10% Pure play +24% eCom TO contribution '18 ¹19 COMPRA AGORA 14% eB2B +91% '20 13% ¹21 42% Digital capabilities 47 Digital Hubs 1.7bn digital IDs 21 U-Studios 1.5m+ assets created across 35,000 projects 37 People Data Centres 13,000 insight studies delivered 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 4. Purpose -led, future-fit organisation & culture 5. Move portfolio into high growth spaces 21#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#23Unilever A new, future-fit organisation Business Groups: end-to-end strategy and P&L responsibility Beauty & Wellbeing Hair Care Skin Care Prestige Vitamins Minerals & Supplements Personal Care Skin Cleansing Deodorant Oral Care Dollar Shave Club Elida Beauty Corporate Centre Home Care Fabric Cleaning Fabric Enhancers Home & Hygiene Water & Air Nutrition Scratch Cooking Healthy Snacking Functional Nutrition Plant-based Meat Unilever Business Operations UFS Ice Cream Ice Cream 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 North America Personal Care Personal Care LATAM Personal Care Corporate Centre Europe + ANZ Personal Care Home Care METR North Asia Personal Care Personal Care Nutrition South Asia Personal Care Unilever Business Operations Indonesia Personal Care Ice Cream 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#26Unilever Portfolio change Acquisitions €16bn capital invested in 29 acquisitions since 2017 Prestige 17% Other 7% BPC 33% Functional Nutrition 43% 93% Tea 33% Disposals €11bn proceeds from 12 disposals since 2017 Other 2% ● 98% Spreads 65% High teens ROIC maintained throughout period of significant portfolio rotation Portfolio rotation ('17-'21% of TO) 17% Unilever 13% Peers avg 26#27Unilever Portfolio change '21 USG contribution (bps contribution to '21 USG from acquisitions and disposals since '17) 3.4% 4.5% 0.7% USG USG excl. acquisitions & acquisitions disposals 0.4% USG disposals (estimated) Prestige Beauty and Functional Nutrition growing bps contribution to Unilever USG% 10 FY '19 FY '20 40 40 Q1'21 Q2'21 60 Q3'21 70 Q4'21 27#28Unilever Portfolio change - Prestige Beauty & Functional Nutrition REN CLEAN SKINCARE REN Sameting 2015 Kate Somerville Kate Somerville TOTAL ASPAIR | dermalogica Living proof. HOURGLASS developed by The International Dermal Institute sound sleep onion 000. Marad ep cocon dermalogica Murad. Prestige Beauty Functional Nutrition t Murad. Murad. ving prod dubinen 2017 quilibra A MINERAL PROTEINE RECOVERY PROTEIN SEURA GARANCIA SARANCE MICHAE 2018 OLLY OLLY. S SLEEP 12-1 9-3 76 8 5 10 4 TATCHA 2019 SMARTY PANTS vitamins SMAL ARTY PAN TS ORGAN SMARTY VICS og MENS FORMULA AVICEMAN TATCH MULTE RANA DEM ne for IMMI PANTS ORGANICS 60 OMEGA 3 EYE HEALTH INTEGY Horlicks Horlick Horlicks GROKGEY 2020 Boost LIQUIDIV LOUTI pype PAULA'S CHOICE SKINCARE PANICE 2021 ONNIT GREEN C E ONNIT HELPS SUPPORT ALPHA BRAIN MEMORY & FOCUS Daily Cuoutine Specd BESARY 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 USG%: '20-'21 2-year CAGR 2.8% Q1 2.3% Q2 3.4% 4.2% Q4 Continue to land pricing as inflation increases UPG% 0.3% 1.0% 1.6% 4.1% FY'20 Q1'21 Q2'21 Q3'21 4.9% Q4'21 Winning competitively Business Winning% 51% 53% 53% 44% 44% 42% lill 2016 2017 2018 2019 2020 2021 30#31Unilever 2022 priorities 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 1 Dove deep moisture skin-natural nourishers. instantly soft skin, lasting nourishment moisture renew blend Unilever 100% recycled bottle