Unilever PLC

Investor Presentation • Apr 24, 2025

Q1 2025 Trading Statement Fernando Fernandez & Srinivas Phatak 24 April 2025

Safe harbour statement

This presentation may contain forward-looking statements within the meaning of the securities laws of certain jurisdictions, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. 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', 'continue', 'should', 'would be', 'seeks', 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 emissions reduction and other sustainability-related targets and other climate and sustainability matters (including actions, potential impacts and risks and opportunities 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 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 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 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, including the proposed separation of our Ice Cream business; economic, social and political risks and natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters and practices with regard to the interpretation and application thereof and emerging and developing ESG reporting standards including differences in implementation of climate and sustainability policies in the regions where the Group operates.

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 events, to differ materially from those containedin any forward-looking statements.

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 2024 and the Unilever Annual Report and Accounts 2024.

Good momentum and portfolio to deal with volatility

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Our unwavering priority is driving growth

Investing behind our strongest growth opportunities

Quality of innovation driving outperformance in developed markets

Targeted and decisive action in select emerging markets

Limited direct impact of tariffs, macroeconomic uncertainty heightens risk

Resilient performance in softer markets

Continued investment behind Power Brands

Beauty & Wellbeing €3.3bn turnover

Strong Wellbeing performance offset a softer beauty market

performance in Core Skin Care and Hair Care

in Wellbeing led by Liquid IV and Nutrafol

Prestige Beauty declined lowsingle digit due to beauty market slowdown in the US and China

5.2% 4.1%

innovations across Skin Cleansing and Deodorants

Sustained strong performance led by Dove, backed by strong innovation

North America performance

premium spaces

Gaining market share, but growth impacted by macroeconomic weakness

1.0%

0.9%

higher pricing

Competitively resilient performance amidst slowing markets

a later Chinese New Year

performance

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Ice Cream €1.8bn turnover

Building strong foundations for the summer season

(0.9)% (1.1)% 6.7% 2.2% 1.8% 2.3% (0.5)% 9.8% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 UPG UVG USG Q1 2025 Underlying sales growth Underlying price growth Underlying volume growth 4.0%

Magnum grew mid-single digit, supported by its new Utopia range and the roll-out of Bon Bons in more countries

2.2%

1.8%

Ben & Jerry's grew midsingle digit, with the launch of a larger, shareable size and new Sundae flavours

Performance reflects strong innovation and continued operational improvements

4.3% 4.0%

Sustained strength in DMs offset specific challenges in some EMs

Q1 2025 turnover (0.9)% including (2.7)% from net disposals

Ice Cream separation on track to complete by end of 2025

Separated by way of demerger via listings in Amsterdam, London and New York

Operational separation of the business by 1st July, reported as a discontinued operation from Q4

Capital Markets Day on 9th September

We reconfirm our full year 2025 financial outlook

Solid fundamentals underpinning full year delivery

What gives us confidence

Resilient, diversified portfolio across geographies, categories and price points

Strong innovation pipeline driving longterm competitiveness +

Stepped up execution supported by focused, accountable organisation

Limited direct tariff exposure

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Targeted, decisive actions in challenged markets

Other financial guidance for 2025

• Capex above 3% of turnover
• Restructuring around 1.4% of turnover
• Net finance costs around 3% on average net debt
• Underlying effective tax rate around 26%
• Leverage of around 2x net debt / underlying EBITDA
• Currency impact1 on full year expected to be around (3)% to (5)% on turnover and around (20)bps on underlying operating margin

1) Based on spot ratesin April plus extreme price growth above 26% in hyperinflationary markets