Bunzl Results Presentation Deck

NORTH AMERICA / CONTINENTAL EUROPE Inflation supported North America; Europe saw growth excluding larger Covid orders £m Revenue Adjusted operating profit¹ Operating margin¹ Return on average operating capital¹ Notes 1. Alternative performance measure - see Appendix 1 2. At constant exchange rates 2021 FULL YEAR RESULTS North America - 2021 6,144.7 401.3 6.5% 42.9% 2020 5,843.8 395.7 6.8% 41.3% REPORTED 5.1% 1.4% CONSTANT EXCHANGE UNDERLYING 12.4% 8.5% 9.2% Strong growth achieved despite the decline in Covid-19 related sales and impact of Covid-19 related deflation on margin Substantial product inflation, particularly in grocery and foodservice, and strong recovery in demand in foodservice and retail - Overall, the base business in the second half traded strongly ahead of 2019 levels Operating cost inflation accelerated through the year but was more than offset by revenue growth attributable to product inflation Overall, revenue in 2021 was 20% higher than in 2019² - Continental Europe 2021 1,972.9 191.8 9.7% 47.3% 2020 2,127.3 238.1 11.2% 59.6% REPORTED (7.3)% (19.4)% BUNZL CONSTANT EXCHANGE UNDERLYING (2.7)% (14.0)% (5.7)% Revenue and profit decline driven by limited larger Covid-19 related orders which strongly benefited the prior year Excluding larger Covid-19 related orders underlying sales grew moderately, supported by inflation and growth in the base business Strong growth in foodservice and non-food retail base businesses, but soft cleaning & hygiene and safety end markets Profit margin reduction reflects the return towards a more normalised revenue mix, driven by the reduction in larger Covid-19 related orders Overall, revenue in 2021 was 12% higher than in 2019² 17

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