#1Unilever US Deep Dive Webcast Fabian Garcia President, Unilever North America 22 March 2021 Unilever#2Unilever Safe harbor 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 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 Unilever Annual Report and Accounts 2020.#3Unilever Agenda 1. Unilever USA: At a glance 2. Growth Pillars 3. Outlook 3#4Unilever ● Key messages The US is Unilever's biggest market, and winning here is a strategic priority#5Unilever ● ● ● Key messages The US is Unilever's biggest market, and winning here is a strategic priority After a period of modest growth, in early 2020 growth strengthened pre-Covid The subsequent demand surge contributed to delivering a record 2020 31#6Unilever ● ● ● Key messages The US is Unilever's biggest market, and winning here is a strategic priority After a period of modest growth, in early 2020 growth strengthened pre-Covid The subsequent demand surge contributed to delivering a record 2020 • We expect to continue to grow competitively post normalization of the Covid- spike as we continue to: ● ● ● Reshape the portfolio towards high growth spaces Innovate with purposeful brands in close partnership with our customers Drive exponential, profitable growth in eCommerce Create a digital-first, lean, diverse and engaged organization#7Unilever ● ● ● Key messages ● The US is Unilever's biggest market, and winning here is a strategic priority After a period of modest growth, in early 2020 growth strengthened pre-Covid The subsequent demand surge contributed to delivering a record 2020 • We expect to continue to grow competitively post normalization of the Covid- spike as we continue to: ● ● Reshape the portfolio towards high growth spaces Innovate with purposeful brands in close partnership with our customers Drive exponential, profitable growth in eCommerce Create a digital-first, lean, diverse and engaged organization Our portfolio is well-positioned to benefit from the emerging post-Covid consumer trends#8Unilever The US Commercial Leadership Team: Experienced and Diverse Fabian Garcia President Kristi Reinholz EVP HR, NA Joey Bergstein CEO, Seventh Gen Jostein Solheim EVP F&R Esi Eggleston Bracey EVP B&PC Terry Thomas EVP CD US Alexandre Eboli VP SC Eric Tiziani CFO 00#9Unilever USA: At a glance#10Unilever Unilever USA 2020: At a glance Largest Unilever Countries by Turnover USA India China Indonesia Brazil UK France Germany Philippines Netherlands Thailand Mexico 3 3 2 5 a Operating Company 17% €8.5bn Turnover >7,500 People 11 Factories 9 Distribution Centers 3 R&D Centers Unilever USA 20% Profit 24% Cash % of Global Contribution I I Global Units ~ €1bn DSC DOLLAR SHAVE CLUB ماه Living proof. Kate Somerville Skin Health Experts Unilever Food Solutions Murad. TATCH A! dermalogica HOURGLASS 10#11Unilever Unilever USA 2020: At a glance Home Care 4% Foods & Refreshment 36% Category Footprint Functional Prestige Nutrition¹ 5% 6% 1. Represents annualised turnover Unilever PRESTIGE Beauty & Personal Care 49% Channel Contribution to Turnover Mass Grocery eCommerce Club Discounters Out of Home Beauty 31% 31% 14% 8% 6% 6% 4% 11#12Unilever Brand Footprint 2020 Top 10 Brands. 66% of Turnover Dove BEN&JERRY'S Breyers Dove. MEN +CARE TRESemmé USED BY PROFESSIONALS HELLMANN'S Suave SINCE 1838 Degree seventh generation. Brands: €100m To €250m. 23% of Turnover Lipton M MAGNUM GOOD HUMOR COND Shea Moisture AXE NEXXUS ENTS S Remaining Brands: < €100m 11% of Turnover Caress OLLY ● talenti. galato I sorbetto 271 LOVE beauty AND planet schmidt's TAZO. 12#13Unilever We lead in all the large retail categories we compete in UL L52W Retail Sales¹ Leading UL Brand (Rank) L12W Value Share - Unilever vs Nearest branded manufacturer ¹ UL #2 Competitor 24% 20% Ice Cream $3.4bn BEN&JERRY'S #1 1. Source IRI MULO + C + Costco; ending 21 Feb 2021, excludes UFS 38% 14% Skin Cleansing $2.2bn Dove #1 25% 25% Hair $1.9bn TRESemmé USED BY PROFESSIONALS #1 47% 40% Deo $1.6bn Dove #1 48% 30% Spoonables $1.1bn HELLMANN'S EST.1913 #1 18% 14% Rice and Pasta Sides $0.4bn Knorr #1 13#14Unilever Strong early momentum, coupled with Covid demand surge enabled a record 2020 Growth returned to the business pre COVID 1% 15-'19 Unilever USA OpCo USG 4% 13% 12% 11 Jan-Feb '20 Mar- Dec '20 FY 20 1. USG is 8% when including USA OpCo and Global Units; USA OpCo only USG is 12% Many peer CPG companies benefited from Covid- related demand spikes 25% 23% 13% 12% 2020 Reported USG 12% -4% 8%1 Unilever 10% 8% CPG Peer Group 8% 5% 4% I USG impact Global Units -5% -7% 14#15Unilever 12 weeks ending Competitiveness stronger since late Q3 % Business Winning Value Share (L12W)¹ 30% 22 Mar 31% 14 Jun 2020 23% 4 Oct 43% 27 Dec 1. Excludes pureplay eCommerce and Functional Nutrition, ending 21 Feb 2021 53% 24 Jan 2021 50% 21 Feb V ● ● ● Competitiveness challenged after Covid due to portfolio mix and service challenges Service improvements, portfolio pivots, increased distribution and targeted investments in H2 drove turnaround Also gaining share in pureplay eCommerce and Functional Nutrition 15#16Growth Pillars#17Unilever 4 Pillars of the Unilever USA Growth Strategy Accelerate Portfolio Reshape Lipton YELLOW LABEL CEN OLLY. THE PERFECT WOMEN'S MULTI watch Innovate with Big, Purposeful Brands 24h contre les 24hction abie deodorant/désodorisant contre les odeurs Dove Dove Dove 0% 0% 0% aluminum duminum sensitive 4h semble deodorant/désodorisant NETWT26021749 costre les odeurs amable deodorant/désodorisant Explode eCommerce PURPOSEFUL PORTFOLIO esign 4 COM CONTENT THAT CONVERTS CREATE AND CAPTURE DEMAND Step-change Culture and Capability 17#18Unilever 4 Pillars of the Unilever USA Growth Strategy Accelerate Portfolio Reshape Lipton YELLOW LABEL CEN OLLY. THE PERFECT WOMEN'S MULTI watch Innovate with Big, Purposeful Brands 24h Dove Dove Dove 0% 0% Explode eCommerce PURPOSEFUL PORTFOLIO 49COM CONTENT THAT CONVERTS CREATE AND CAPTURE DEMAND Step-change Culture and Capability 18#19Unilever Clear criteria for Investment Choices C Scale Hygiene 5 High growth Multi-cultural beauty Potential in growth countries Living proof. Prestige beauty Route to leadership OLLY STRESS OLLY BEAUTY OLLY SLEEP Functional nutrition oOo. Branding & technology sensitive HELLMANN'S VEGAN CHIPOTLE HELLMANN'S HELLMANN'S VEGAN MATO BACONNAISE VEGAN MAYO GARLIC Healthy eating 19#20Unilever Portfolio reshape in action Divestments Acquisitions Portfolio Shape 2016 seventh generation DSC DOLLAR SHAVE CLUB F&R 46% BPC 51% 2017 THE BAKING COOKING & SPREADS COMPANY JAM. Living proof. HOURGLASS SUNDIAL exist #RANDS schmidt's Sir Kensington's Prestige 3% HC <1% 2018 1. Portfolio shape in 2021 based on 2020 (annualized) TO after removing Tea and Tail BPC brands 2019 OLLY THE LAUNDRESS NEW YORK СТАТСНА 2020 LIQUIDIV™ Fueling Life's Adventures SMARTYPANTS In progress 20211 Lipton Tea F&R 35% BPC 49% Unilever BEAUTY PERSONAL CARE Tail BPC brands Proforma 2021 HC 4% Func. Nutr. 6% Prestige 5% 20#21Unilever Acquisitions grew 17% in 2020 1. Annualised turnover BPC Prestige Func. Nutr. HC F&R DSC dermalogica DOLLAR SHAVE CLUB OLLY Living proof. ماه KENS TON'S LIQUIDIV.™ Fueling Life's Adventures CONDIMENTS SUNDIAL BRANDS schmidt's seventh THE LAUNDRESS NEW YORK generation HOURGLASS Murad. SMARTYPANTS TAZO talenti. gelato & sorbetto 2020 Turnover €0.5bn €0.5bn €0.5bn¹ €0.4bn €0.3bn¹ 2019 USG -5% 9% 10% 13% 2020 USG +5% -4% >50% >50% >20% 21#22Unilever 4 Pillars of the Unilever USA Growth Strategy Accelerate Portfolio Reshape Lipton OLLY. WOMEN'S MULTI Innovate with Big, Purposeful Brands 24h contre les 24hction abie deodorant/désodorisant contre les odeurs Dove Dove Dove 0% 0% 0% aluminum duminum sensitive 4h semble deodorant/désodorisant NETWT26021749 costre les odeurs amable deodorant/désodorisant Explode eCommerce PURPOSEFUL PORTFOLIO 49COM CONTENT THAT CONVERTS CREATE AND CAPTURE DEMAND Step-change Culture and Capability 22#23Unilever ● ● ● Focusing on bringing breakthrough technology innovation Innovation Strategy Cornerstones Dedicated R&D resources, co-located with brand and insights teams > 550 FTES • 3 R&D Centers ● Leading edge data-driven shopper and strategic customer-partnership Streamlined innovation process to identify 'big bets' early, shorter time to market Dove Deo Refill Seventh Gen Easy Dose First refillable, reusable deodorant seven laundr seventh laundr 20 Haund! severin LASSE Baunary MORE CLEAN LESS PLASTIC 50% 60% less water less plastic than our 100 fl oz bottle 75% lighter First 8x laundry; high value density Ben & Jerry's Dough Bites BENGJERRY'S Snackable, Frozen Cookie Dough Bites! dough HTW the tonigh at douth NEW! NEW! en the tonight d BEN&JERRY'S The Tonight Dough Chunks Dunkin Dough D NETWERGE Cardeber Past Seserys Extends #1 IC brand into frozen snacking 23#24Unilever Dialed-up Customer Centricity Approach ● Augmented by local white space innovations, co-created with customers ● Holistic long-range Planning to unlock: ● ● ● Innovation co-creation Data/ insights collaboration Incremental distribution (e.g. 700k+ at largest Mass retailer) • Joint investment to drive discontinuous growth Supported by frequent senior leadership meetings 1. L52W ending 21 Feb 2021 2. Grooming includes Shave + Face Bath in Retail FIND THE HAPPY PLACE Lazy Weekends $ 12.9bn Functional Nutrition OLLY THE PERFECT MEN'S MULTI A powerful blend of Vitamins A.C.D.E.Bs, Zinc & Lycopene 90 betay SUPPLEMENT $13.6bn Market Size¹ Men's Grooming in Retail² DSC DOLLAR SHAVE CLUB 6 父 CARTRIDGES $ 6.4bn x4 24#25Unilever Activating brand purpose to drive consistent, competitive growth Ben and Jerry's a consistent voice for social justice Bloomberg Business BLACK LIVES NATTER 27:2000 GMO ERIMINAL JUSTICE AREFORM NOW VOTN RIGHTS ARE RIGHTS Many brands try. Ben & Jerry's keeps pulling it off WE ARE THE 99% KEEP $$$ OUT OF POLITICS Vermont's Finet BEN & JERRY'S 12% DEMOCRACY FOR ALL Corporate Activism With a Cherry on Top NO PLANET B BEINGS ARE HUMA REFUL Dove leads the fight to end Hair Discrimination Dove New York Joins California... Hair discrimination is now illegal in California and New York. 8% CROWN Coalition 3 Year USG Seventh Gen raising awareness about climate change seventh generation. NOT BUSINESS AS USUAL The next generation is writing history. Let's be on their side of it. #climatestrike 22% 25#26Unilever 4 Pillars of the Unilever USA Growth Strategy Accelerate Portfolio Reshape Lipton OLLY. WOMEN'S MULTI Innovate with Big, Purposeful Brands 24h Dove Dove Dove 0% 0% Explode eCommerce PURPOSEFUL PORTFOLIO esign 4 COM CONTENT THAT CONVERTS CREATE AND CAPTURE DEMAND Step-change Culture and Capability 26#27Unilever Actions taken to explode eComm growth ● ● Taking targeted actions to accelerate eCommerce ● Partnership with Amazon: ● ● ● Co-investment in data, media Amplifying Climate Pledge program Strategic partnership with Fresh Ramping up 'Design for eCommerce'; contribution of eComm SKUs -2x in 2 years Driving Omni via joint business planning with key brick and mortar customers Step-changing execution capabilities through incremental expert resources, use of advanced analytics Design for eCommerce Examples EASY 66 laundry free & clear SNA.CONCENTRATE LOVE beauty seventh generation. SALEN 23.1 FL 02 LG (1.44 PS/CHOP) 683 AND planet COCONUT WAT A MIMOSA TWEE SULFATE FREE SHAMPOO AMA 13.6 FL 07-400r 1 beauty & planet COCONUT WATER A MIMOSA TOW volume and bounty CONDITIONI 135 FL02-400 ml till Compact laundry format increases value density Profitable bundle packs meet unit profit thresholds; increase baskets 27#28Unilever Record growth in 2020, and increasing contribution eComm Turnover as % of Total Business Global Units Resulting in strong, competitive and profitable growth USA OpCo 8% 4% 4% 2019 122% USG 14% 4.5% 9.5% 2020 1.% business winning share YTD Dec 2020 2. Click and Collect Share 28#29Unilever Record growth in 2020, and increasing contribution eComm Turnover as % of Total Business Global Units Resulting in strong, competitive and profitable growth USA OpCo 8% 4% 4% 2019 122% USG 14% 4.5% 9.5% 2020 1.% business winning share YTD Dec 2020 2. Click and Collect Share Competitiveness in key customers is strong % Omni Business above brick & mortar Largest Grocer Largest Mass Retailer² Second largest Mass Retailer² >80%¹ Largest Pureplay retailer >80%¹ >40%¹ % Business Winning Share in Pureplay >70%¹ 29#30Unilever Record growth in 2020, and increasing contribution eComm Turnover as % of Total Business Global Units Resulting in strong, competitive and profitable growth USA OpCo 8% 4% 4% 2019 122% USG 14% 4.5% 9.5% 2020 1.% business winning share YTD Dec 2020 2. Click and Collect Share Competitiveness in key customers is strong % Omni Business above brick & mortar Largest Grocer Largest Mass Retailer² Second largest Mass Retailer² >80%¹ Largest Pureplay retailer >80%¹ >40%¹ % Business Winning Share in Pureplay >70%¹ Healthy margin expansion USA eComm Gross Margin Drivers: ● 2019 250 bps 2020 Channel mix optimization Tailored portfolio ROI optimization 30#31Unilever 4 Pillars of the Unilever USA Growth Strategy Accelerate Portfolio Reshape Lipton OLLY. WOMEN'S MULTI Innovate with Big, Purposeful Brands 24h Dove Dove Dove 0% 0% Explode eCommerce PURPOSEFUL PORTFOLIO 49COM CONTENT THAT CONVERTS CREATE AND CAPTURE DEMAND Step-change Culture and Capability 31#32Unilever ● Creating a lean, digitally-enabled, diverse and engaged organization E2E Digital Enablement Process automation, digitization, machine learning unlocked +€50M in annual savings Partnering 9 retailers to deploy proprietary analytical tools to drive engagement and conversion Diverse and Engaged Teams ● ● 06%% At corporate level, 50% female, 30% identify as Person of Color Engagement up +900 bps in 2020 Generating elevated levels of 'Fuel for Growth' 25% increase in annual savings planned for '21-'24 (vs '18-'20) 32#33Unilever Our growth pillars are fully aligned with global 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 33#34Outlook#35Unilever Developed market Consumer Mega- trends USA Context Portfolio well positioned for post-Covid new normal Holistic Health Pleasure Starved Home Experiences Stimulus 'Bump' Mass Vaccination Hybrid Work Hair Deo Ice Skin Hand Cleanse Hygiene Cream Mayo Sides Home Care Func. Nutr. Prestige UFS 35#36Unilever Developed market Consumer Mega- trends USA Context Portfolio well positioned for post-Covid new normal Holistic Health Pleasure Starved Home Experiences Stimulus 'Bump' Mass Vaccination Hybrid Work Hair Deo Ice Skin Hand Cleanse Hygiene Cream Mayo Sides Home Care Func. Nutr. Prestige UFS 36#37Unilever ● ● ● Outlook We have confidence in the resilience of the consumer and expect an economic recovery in the next 12-18 months We foresee three challenges in the US ● • A bifurcated economy Managing impact of eComm acceleration on traditional retail Inflationary headwinds ● 2021 will be impacted by lapping of the 2020 demand surge. We continue to be focused on competitive growth B 37#38Unilever ● ● Recap of Key messages The US is Unilever's biggest market, and winning here is a strategic priority We expect to continue to grow competitively post normalization of the Covid- spike as we: • Continue to reshape the portfolio towards high growth spaces ● Innovate with big, purposeful brands in close partnership with our customers ● ● ● Drive disproportionate, profitable growth in eCommerce Accelerate the implementation of a digital-first, lean, diverse and engaged organization 38#39Q&A Unilever USA Deep Dive Webcast 22 March 2021 Unilever