#1#comeoutstronger Graeme Pitkethly & Nitin Paranjpe 9th June 2020 Unilever#2Unilever 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; 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. 2#3Unilever Today's themes: #comeoutstronger 1 2 3 4 5 Pre Covid-19 Improved penetration Impactful innovation Design for channel Purposeful brands Fuel for growth Resilient portfolio Future normal K O 3#4Unilever 2.5bn 50% 190 female managers countries consumers reached 12 1.3bn people helped to improve health and hygiene billion euro brands Home Care 21% Beauty & Personal Care 42% Foods & Refreshment 37% Unilever 90% local leaders 60% sales in emerging markets 14 of the top 50 global consumer brands Dove Lifebuoy sunsilk LUX im Brooke Bond FAMILY ESTO 1659 closeup Comfort Lipton Sunlight Knorr Rexona POND'S Pepsodent#5Unilever The 5 Growth Fundamentals are working Key indicators improving Penetration +400bps From Q4'19 to Q1' 20 Market share improvements Accelerating e-commerce growth Note: US IRI-Measured Channels to 19th April excludes Costco & eCommerce Continued progress in US hotspots Made in the USAL BEN&JERRY'S Suavė Dove HELLMANN'S 'BRING OUT THE BEST'TM +40bps L12W ice cream value share +40bps L12W wash & care value share +20bps L12W dressings value share LO 5#6Unilever Today's themes: #comeoutstronger 2 5 Pre Covid-19 Improved penetration Impactful innovation Design for channel Purposeful brands Fuel for growth Resilient portfolio Future normal 10 O 6#7Unilever Covid-19 impacts Channels disrupted Out of home ice cream Some lockdowns lifted, but most tourist spots remain restricted Unilever Food Solutions U Unilever PRESTIGE Food service Most restrictions still in place; China open outlet rate at c.80% Prestige 2/3 of sales in health & beauty stores; many remain closed Cif POWER & SHINE SEPTION Know HOMESTYLE STOCK Chicken *** C D-T CNVB.07 29 Car Strong consumer demand Hygiene -60% of consumers have increased usage of surface cleaners In-home foods ~45% of consumers have increased usage in savoury category E-commerce Q1 growth 36% and accelerating rapidly Countries at different stages of the cycle Duration and severity of cycle differs by country 7#8U Unilever Covid-19: Managing cash and liquidity Y/E '19 1.9x Net debt/EBITDA ~€11bn 2.8x Strong balance sheet & liquidity position Low gearing A1/A+ credit rating Cash & undrawn facilities Coverage of debt maturing in 1 year ● ● ● ● Managing cash Shift to driving absolute profit Laser focus on receivables Holistic review of spend €2bn bond issuance Maintain dividend 8#9Unilever A clearer picture of the future * 80% EM 60% EM G 50% EM Home & hygiene €7bn Hygiene Skin cleansing €9bn Laundry Fabric sensations, fabric solutions, other €14bn In home Savoury, dressings, in home ice cream, tea €16bn Personal care excl. skin cleansing €0.6bn Prestige €52bn Turnover FY 2019 €5.5bn Out of home Out of home ice cream, food service 9#10U Unilever Fundamentally strong businesses, challenged short term €3.0bn €2.5bn €2.0bn 2011 Out of Home 2015 +4% average USG OOH ice cream +5% average USG Food Solutions 2019 Note: Food Solutions 2019 turnover decline due to sale of spreads business dermalogica ТАТСН А Prestige REN CLEAN SKINCARE €600m business built in 4 years HOURGLASS GARANCIA PARIS LE POUVOIR DE LA SCIENCE ET DE LA NATURE A Kate Murad. Living proof. Somerville Ⓡ 10#11Unilever In home eating is a near term strength DM in home foods & ice cream ~€7bn Knorr SERINGSVESTION MENITI HAZING Pasta Sides Cheddar Broccoli Fusilli Pasta with Broccoli in a Cheesy Cheddar Sauce with other Natural Flavor ✓ No Artificial Flavors Or Preservatives ✓ Colors F Artificial Sources ✓ No Added MSG Except the naturally PER 23 CUP SERVING DAY MIX 230 nascitarenture COOKS IN 10HNUTES HELLMANN'S EST.1913 VEGAN Rod Breyers Natural Vanilla -made with Fresh Cream. Sugar & Milk 160g THE VEGETARIAN BUTCHER™ Vegetarian HOLY COW BURGER theng 2 pieces PARTNERING W AMERICAN FARMERS 100% GRADE A milk one cream PERIOR CUP SERVIME 19 1706 50 CALUMES 1 CREAN LEGISL ENO HELLMANN'S EST.1913 BEN&JERRY'S ND REAL MAYONNAISE Ci torstaindly se COCONUT LAYER BAR Non-Dairy PE Fl a Frozen odge chunks, mel wincts Nam cracker a 600g Knorr VEGETABLE LÉGUMES SOUP/SOUPE NEL CORSO SANG SARS S SINCE 1838 Knorr THAI RED CURRY AUTHENTIC ASIAN RECIPE MADE WITH RICE NOODLES STREN 40g 11#12Unilever Track record of emerging market strength Price Volume 97 98 99 1998 Indonesia Asian financial crisis 00 01 H 02 03 04 05 06 07 08 09 2008 global financial crisis 10 11 12 13 14 15 2015 Brazil Economic crisis 16 17 18 USG 20 year average 8% 19 • 2018 Argentina Crisis & hyperinflation 20yr average 4% 20yr average 4% 12#13Unilever Built for crisis: Powerhouse businesses 10yr average USG Size of business India's largest FMCG 9% ~€5bn ORDEM Hold strong #1 share position 7% ~ €3bn 97% local managers 7% ~€3bn A Unilever product in every Indonesian household 9% ~€2.5bn 13#14Unilever Market leaders in emerging markets 2010 2019 2010 2019 0.3 Maintaining strong #1 positions over 10 years Brazil - Deodorants 0.6 India - Fabric Solutions 0.7 1.5 2010 2019 2010 2019 0.6 Brazil - Fabric solutions = Unilever market value (€bn) 0.1 Indonesia - Skin cleansing 1.1 0.3 2010 2019 2010 2019 India - Skin cleansing 0.6 0.2 = Next largest global competitor Indonesia - Oral Care 1.0 0.3 14#15Nitin Paranjpe #comeoutstronger 9th June 2020 1 Unilever#16Unilever Today's themes: #comeoutstronger 2 4 5 Pre Covid-19 Improved penetration Impactful innovation Design for channel Purposeful brands Fuel for growth Resilient portfolio Future normal K O 16#17Unilever Running the business - short term Action Targeted squads Frequent planning Recession & hygiene Weekly S&OP Competitive, volume led growth Reduced complexity Focus on A & B SKUS Key metrics Result Absolute underlying operating profit Fast innovation 600x sanitiser capacity Cash delivery 17#18Unilever Living with Covid-19 Recession & living with Covid-19 2.5% 01/20 2020 GDP projection and Covid-19 cases 02/20 03/20 GDP 04/20 Cases -2.8% -4.8% GDP projection source: Oxford Economics, Covid-19 cases: ECDC New headwinds / tailwinds NEW (7) % SALE SPECIAL ECOMMERCE VALUE CHANNELS AWAY FROM HOME ↑ New behaviours will 'stick' 0 Clean Living E-everything Protective Measures Conscious Consumption Fear Factor Cocooning Local is Good Preventative Immunity 18#19Unilever Future normal - consumer trends Hygiene & Wellness CALSEAL Women's Horlicks BRANCAS S COLORIDAS STRONG BONES Debelion Chocolate LAVA ROUPAS 100%RDACH CALCIUM Gif Nature's RECIPE DEGREASER ANTESDE USARLLERAAS INSTRUÕES DO EXT CNDACCHIRRITATERAIA (5 (LINE PELLE COSAS Brilhante ENZIMAS DE LIMPEZA 09 LIMPEZA TOTAL COM TECNOLOGIA BRILHO ATIVO BLINDAGEN DAS CORES 400 PENEESCO 400g +PODEROSOS Dove sensitive skin hypoalergenic beauty bar | Manakala sam unscented Active 6 NET WT 4 BARE TOTAL NET WT:2402 7.5/15/1679 2in1 6 Clean & F 10/ Surf excel CLEANER, SAFER Unicef TOILETS Easy Walsch Domestos (LLS ALL IX LONGER CERMS PENCALVENTION Recession ♫ Lifebuoy Suave NATURAL SHEA BUTTER & PURE COCONUT OIL for natural hair GEL RUA TAY KHO BẢO VỆ VƯỢT TRỜI 0. LOVE beauty AND planet SHEA BUTTER & SANDALWOOD OL majestic moisture CLINIC PLUS+ STRONG&LONG HEAL SHAMPOO MICH PR SHOWER GEL OFF IT'S VEGANI MON BAC DE KANG Lifebuoy T Beo ve vupt troi 10 Breyers Natural Vanilla fresh Cream Sugar & Mak 170 A LOH LATA C STAY-IN(SPIRED) WITH BEANS WITH PASTA SQ SC WIT W HELLMANN'S WE'RE ON THE se or Fo Rexona #MoveMoreAtHome HELLMANN'S REAL MAYONNAISE Cocooning M MAGNUM MINI COLLECTION RUBY way starts with pingmure Try se on todel Mody d from deep within E-everything MAGIC MINCE WANT ICE CREAM NOW? NUM THE VEGETARIAN BUTCHER Breyers BENOJERRY'S half GET THE BRANDS YOU LOVE DELIVERE CREAM Se pukka supreme matcha green organic BERDFORTE YouTube of whea the fil Home is Good Tats WIER norr Search Pasta Sides. Thit Ga Cheddar Broccoli Fusilli Pasta with Broccoli in a Cheesy Cheddar Sauce with other Natural Flevar No Artificial Flavors No Colors From Artificial Source Ne Added MSG 230-10 Knorr xốt Nêm HOME IS GOOD- 39 40 PATANDY ODLINE 19#20U Unilever Growth fundamentals are still relevant 1 2 13 4 5 Improved penetration Impactful innovation Design for channel Purposeful brands Fuel for growth Mental and physical availability in key cells Volume and value share Value across tiers Product superiority Decisive choices - cut the tail Focused channel capability Turbo charge ecommerce 100% product & purpose integration €2bn+ savings p/a Cash delivery 20#21Unilever Penetration: value, affordability and price Consumer need Consumer $ Low income $ $ Mid income $ $ $ High income Need Save money Be Smart Enjoy Surf excel Falla Surf excel Balapan hot Consumer action Change pack sizes COSTCO EWHOLESALE LIDL Surt excel Detergent Miquit Channel shift HOURGLASS "Lipstick effect" Brilhante Suave Lower tier brands 21#22Unilever Targeted innovation Fewer Cut 20% projects from innovation funnel S Lifebuoy BẢO VỆ VUOTTRO 10 S Lifebuoy GEL RUA TAY KHO BẢO VỆ VUỘT TRÔI 10 Va Lam sach 80 ve khol vi khu Faster Lifebuoy ĐỘC RỬA TAY KHO BẢO VỆ VƯỢT TRỘI SỐ surg Y Lifebuoy GEL RUA TAY KHO BẢO VỆ VƯỢT TRỘI 19 Sanitiser production expanded from 2 sites to >60 Sua Suav Suave Suave Suave have HAND ID HAND HAND HAND HAND SANITIZSANITIZI SANITIZEI SANITIZER SANITIZER ITIZER SPRAY SPRAY SPRAY SPRAY SPRAY con 99.9% AY 10 res germa SIGBORDS germs Redirected BETING 0000 M MAGNUM RUBY Addressing new consumer trends 22#23Unilever Purposeful brands stay with consumers after crisis Dove men + care WE THE CLEANEST ▷ 40 0:31/0:45 DAD ON. Dove MEN +CARE WE'RE SUPPORTING DADS AND THEIR FAMILIES WITH ESSENTIAL DONATIONS AND AT-HOME PARENTING RESOURCES. ▷ 40:39 / 0:45 Support dads with at home parenting Domestos Domestos OUR PRODUCTS CORONAVIRUS HEALTH AND HYGIENE OUR MISSION SEARCH Q CORONAVIRUS INFORMATION AND PREVENTION BROWSE ALL ARTICLES Covid-19 hygiene education 23#24U Unilever Unilever: #comeoutstronger ● Organisational strengths Broad portfolio positioned for future normal Strength and experience in emerging markets Growth fundamentals working well Organisational agility and speed ● Key metrics Competitive, volume led growth Absolute underlying operating profit Cash delivery We will demonstrate how our purpose-led, future-fit business model drives superior performance, consistently delivering financial results in the top third of our industry. 24#25#comeoutstronger Graeme Pitkethly & Nitin Paranjpe 9th June 2020 Unilever