Trian Partners Activist Presentation Deck

Share Price Performance 72% Unilever 20% Nestle 5-Year Total Shareholder Return 61% Gen. Mills 56% Colgate 19% 19% 49% 47% Heinz Kraft Colgate Dr Pepper Kraft 18% 15% Unilever Coke 40% 14% PepsiCo 30% Nestle 1-Year Total Shareholder Return Coke 16% 15% P&G P&G Kellogg 12% 12% 12% 10% 12% Heinz Campbell Campbell PepsiCo 7% 9% Gen. Mills 0% Danone -3% -3% Kellogg Danone 71% Dr Pepper 16% 3-Year Total Shareholder Return Kraft Colgate 64% Nestle 60% 13% Heinz Coke 52% 12% Kraft Colgate 44% 43% 11% Dr Pepper Unilever YTD Total Shareholder Return 10% 37% 33% 31% Nestle Gen. Mills Unilever Heinz Campbell 9% 9% 9% P&G Dan one Coke 26% 25% 23% 111 P&G 7% 7% PepsiCo Campbell PepsiCo 6% 11 Kellogg Kellogg 2% 12% Gen. Mills 0% Danone Source: Capital IQ as of Oct 31, 2012. Note: Total returns include dividends. Unilever's total shareholder return represents total return of PLC shares. Dr Pepper excluded from 5-year total shareholder return due to lack of trading history. 6-

View entire presentation