Bunzl Results Presentation Deck

BALANCE SHEET Substantial capacity for continued self-funded acquisitions Net debt: EBITDA ¹,2 1.6x Substantial capacity for self-funded acquisitions with 2.0x-2.5x target leverage FY 21 committed acquisition spend £508m ROIC¹ 15.1% 2021 FULL YEAR RESULTS £m Intangibles Right-of-use assets Property, plant and equipment Working capital¹ Other net liabilities Net pension surplus/(deficit) Net debt excluding lease liabilities¹ Lease liabilities Equity Net debt EBITDA¹ Net debt: EBITDA¹ (covenant basis²) Return on invested capital¹ Return on average operating capital¹ DECEMBER 2021 2,766.8 448.3 120.9 1,027.6 (364.8) 3,998.8 31.2 (1,337.4) (488.7) 2,203.9 1.9x 1.6x 15.1% 43.3% DECEMBER 2020 2,441.9 453.4 122.7 1,021.4 (323.0) 3,716.4 (44.8) (1,255.0) (497.5) 1,919.1 1.8x 1.5x 16.2% 45.4% Net debt: EBITDA¹,2 over the last 10 years 1.8x 1.8x X6 L 2.1x 2.0x 2.3x 2.0x 12 13 14 15 16 17 18 Notes 1. Alternative performance measure - see Appendix 1 2. On a covenant basis - at average exchange rates and based on historical accounting standards, in accordance with Group's external debt covenants 1.9x 1.5x 19 20 BUNZL TARGET 1.6x 21 9

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