Unilever PLC

Investor Presentation • Oct 24, 2024

Q3 2024 Trading Statement

Hein Schumacher & Fernando Fernandez

24 October 2024

Safe harbour statement

This presentation may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995, concerning the financial condition, results of operations and businesses of the Unilever Group (the 'Group'). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words and terminology such as 'will', 'aim', 'expects', 'anticipates', 'intends', 'looks', 'believes', 'vision', 'ambition', 'target', 'goal', 'plan', 'potential', 'work towards', 'may', 'milestone', 'objectives', 'outlook', 'probably', 'project', 'risk', 'seek', 'continue', 'projected', 'estimate', 'achieve' or the negative of these terms, and other similar expressions of future performance, results, actions or events, and their negatives, are intended to identify such forward-looking statements. Forward-looking statements also include, but are not limited to, statements and information regarding Unilever's acceleration of its Growth Action Plan, Unilever's portfolio optimisation towards global or scalable brands, the capabilities and potential of such brands, the various aspects of the separation of Ice Cream and its future operational model, strategy, growth potential, performance and returns, Unilever's productivity programme, its impacts and cost savings over the next three years and operation dis-synergies from the separation of Ice Cream, the Group's emissions reduction targets and other climate change related matters (including actions, potential impacts and risks associated therewith). Forward-looking statements can be made in writing but also may be made verbally by directors, officers and employees of the Group (including during management presentations) in connection with this presentation. These forward-looking statements are based upon current beliefs, expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance or outcomes. All forward-looking statements contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements.

Because these forward-looking statements involve known and unknown risks and uncertainties, a number of which may be beyond the Group's control, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially from the forward-looking statements expressed in this presentation are: Unilever's ability to successfully separate Ice Cream and realise the anticipated benefits of the separation; Unilever's ability to successfully execute and consummate its productivity programme in line with expected costs to achieve expected savings; Unilever's global brands not meeting consumer preferences; Unilever's ability to innovate and remain competitive; Unilever's investment choices in its portfolio management; the effect of climate change on Unilever's business; Unilever's ability to find sustainable solutions to its plastic packaging; significant changes or deterioration in customer relationships; the recruitment and retention of talented employees; disruptions in Unilever's supply chain and distribution; increases or volatility in the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; execution of acquisitions, divestitures and business transformation projects; economic, social and political risks and natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters..

The forward-looking statements speak only as of the date of this presentation. Except as required by any applicable law or regulation, the Group expressly disclaims any intention, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. New risks and uncertainties arise over time, and it is not possible for us to predict those events or how they may affect us. In addition, we cannot assess the impact of each factor on our businessor the extent to which any factor, or combinationof factors, may cause actual results todiffer materially from those contained in any forward-lookingstatements.

Further details of potential risks and uncertainties affecting the Group are described in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including in the Annual Report on Form 20-F 2023 and the Unilever Annual Reportand Accounts 2023.

Executing the Growth Action Plan

- FY2024 guidance unchanged

Ice Cream separation and productivity programme on track

Accelerated volume growth in Q3

Beauty & Wellbeing 21% of Group turnover

Strong volume-led growth, driven by Power Brands

Hair Care grew low-single digit with good performance from Dove & TRESemmé

Vaseline, Ponds & Dove led mid-single digit growth in Core Skin Care, with continued success in our premium innovations

Health & Wellbeing and Prestige Beauty combined delivered double-digit growth for the 15th consecutive quarter

Personal Care 22% of Group turnover

Volume-led growth driven by strong Dove performance

Deodorants' high-single digit growth was volumeled, driven by Dove & Axe

Skin Cleansing grew lowsingle digit, with growth in Europe & the US offset by declines in India & Indonesia Dove delivered high-single digit volume growth and positive price in both Skin Cleansing & Deodorants

6.4%

4.4%

Home Care 20% of Group turnover

Premium innovations drive volume growth while price remains negative

Fabric Cleaning declined low-single digit with positive volume more than offset by negative price

Home & Hygiene delivered mid-single digit volume-led growth led by Cif & Domestos

Fabric Enhancers grew double-digit, led by Comfort with continued success in our Botanical & Elixir ranges

1.9%

Nutrition 21% of Group turnover

Muted volume growth amidst moderating prices and market slowdown

Scratch Cooking Aids grew low-single digit with balanced volume and price growth in Knorr

Dressings was flat with lowsingle digit volume offset by price due to increased promotional activity

Unilever Food Solutions grew low-single digit with positive volume despite a decline in China

Ice Cream 16% of Group turnover

Operational improvements drove improved growth vs. weak prior year comparator

Performance supported by distribution gains and optimised promotions with more work ahead

Magnum grew double-digit with good performances in our premium innovations, Bon Bons & 'Pleasure Express'

Cornetto grew high-single digit following its global relaunch with improved formulation and packaging

Q3 volume growth led by Europe and North America

Turnover in line with prior year

On track to deliver FY2024 outlook

• Underlying sales growth (USG) for full year 2024 to be within our multi-year range of 3 to 5%
• Majority of growth driven by volume
• Expect underlying operating margin for full year 2024 to be at least 18%, with increasing investment behind our brands
• Year-on-year margin progression in H2 expected to be smaller than in H1

2 Driving improved, more consistent delivery through innovation and investment

Much to do in transforming Unilever into a higher performing business

Other financial guidance for 2024

• Capex around 3% of turnover
• Restructuring around 1.2% of turnover
• Expected currency impact* on full year turnover around (1.5)% and around (20)bps on full year underlying operating margin
• Net finance costs around 3% on average net debt
• Underlying effective tax rate around 26%
• Net debt around 2x net debt / underlying EBITDA

*exchange rates plus extreme price growth above 26% in hyperinflationary markets