Investing for Growth

Unilever Our growth model underpinned by disciplined capital allocation Operational investment Portfolio reshaping Capital returns Capex % turnover Acquisitions since 2017 Cash dividends €bn Covid 3.9 4.1 4.2 4.3 4.5 3.0 2.8 impact 2.7 2.4 dermalogica 1.8 €17bn invested NUTRAFOL 2017 18 19 20 21 2017 18 19 20 21 Restructuring €bn 1.2 Disposals since 2017 Share buybacks 0.9 0.6 0.9 0.6 €11bn proceeds PG €14bn up to €3bn Flora 2017-21 2022-23 2017 18 19 20 21 17% of portfolio rotated 18

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