Third Point Management Activist Presentation Deck

BOARD OF DIRECTORS RESPONSIBLE FOR STRATEGY Swiss boards set corporate strategy "The Board of Directors elected by the shareholders is responsible for the strategic direction and supervision of the company." Swiss Code of Best Practice for Corporate Governance THIRD POINT Nestlé Board missing key perspectives Nestle Only 1 of 12 independent Nestlé directors (newly appointed Kasper Rorsted) has fast-moving consumer goods experience Note: Swiss Code of Best Practice for Corporate Governance sets guidelines and recommendations for Swiss companies Source: Third Point LLC; Nestlé company materials; economiesuisse 16 ◆ Zero directors have external food & beverage experience

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