Bunzl Results Presentation Deck

INFLATION Product cost Inflation managed to date with successful pass-through Inflation strongly supportive to revenue growth, with Covid-19 related inflation in H1 and base business inflation in H2 Operating cost inflation more than offset by revenue growth driven by product cost inflation and efficiency measures Inflation dynamics somewhat supportive to operating margin 2021 FULL YEAR RESULTS Product cost inflation Covid-19 related products Glove prices stabilising; Current prices will impact H1 22 revenue year-on-year Base business Strong inflation in plastics, paper and chemicals Good progress in passing through product price inflation to customers - - With our largest customers, particularly in North America, product price movements often factored into agreements Elsewhere, regular price renegotiations required Inflation remained strong to the end of the year, but some moderate tempering of plastic prices seen in some regions Operating cost inflation Wage inflation particularly strong in North America and UK & Ireland - BUNZL More benign impact in Continental Europe and Asia Pacific Started to stabilise in North America Outbound freight inflation has risen, as has property cost inflation linked to lease expiries Operating efficiency measures in 2021 Group continued to take actions to enhance efficiencies >15 warehouse consolidations UK & Ireland shared service roll-out with a range of new technologies implemented 16

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