Nestle India Ltd. — Call Transcript 2022

Feb 17, 2022

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Nestlé India Limited

(CIN : L15202DL1959PLC003786)

Nestlé House Jacaranda Marg ‘M’Block, DLF City, Phase – II Gurugram – 122002, Haryana Phone 0124 - 3940000 E-mail: investor@IN.nestle.com Website www.nestle.in

BM:PKR:09:22 17.02.2022

BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai – 400 001

Scrip Code – 500790

Subject : Presentation of intimation of Earnings Call with Analysts / Investors on Financial Results for the Financial Year ended 31[st] December 2021

Dear Madam/ Sir,

Further to our letter BM:PKR:5:22 dated 2[nd] February 2022, intimating about Earnings Call with Analysts / Investors on Financial Results for the Year ended 31[st] December 2021 and in terms of the requirement of Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the presentation to be made to the Analysts/ Investors at the meeting scheduled to be held today.

We will be uploading the presentation on the Company’s website www.nestle.in.

Thanking you,

Yours truly, NESTLÉ INDIA LIMITED

B. MURLI

GENERAL COUNSEL & COMPANY SECRETARY

Encl.: as above

Regd. Office: 100 / 101, World Trade Centre, Barakhamba Lane, New Delhi – 110 001

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Determined to Keep Strong Nestlé India Full Year Earnings Call 17 February 2022

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Disclaimers

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• Except for the historical financial information contained herein, this presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which holds only as of the date.

• The future involves uncertainties and risks that could cause actual results to differ materially from the current views being expressed.

• Potential uncertainties and risks include but are not limited to factors such as changes in general economic, political or market conditions, commodities and currency fluctuations, competitive product and pricing pressures, industrial relations and regulatory developments.

• Significant disruptions in the operations due to unforeseen events (including as a result of the spread of disease)

• Volume and Mix and Organic Growth (OG) are basis Nestlé Internal Reporting Standards.

• Figures are regrouped / reclassified to make them comparable.

• Calculations are based on non-rounded figures.

• ‘Analytical data’ are best estimates to facilitate understanding of business and NOT meant to reconcile reported figures.

• Answers to Questions may be given basis generally available information in public domain.

• No person is authorised to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or presentation must not be relied upon as having been authorised by or on behalf of Nestlé India Limited.

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Nestle India Full Year Earnings Call, 17th Feb 2022

Agenda

16:00 - 16:20 Determined to Keep Strong Suresh Narayanan

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16:20 - 16:45
Q&A
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Nestle India Full Year Earnings Call, 17th Feb 2022

Determined to Keep Strong

By Suresh Narayanan

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Nestle India Full Year Earnings Call, 17th Feb 2022

Key Takeaways Last Time

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Unwavering Leveraging the
Commitment RURBAN
to India opportunities
Sustainability Caring for
across our Communities a
Operations way of life
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Strive to
continue robust
business model
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A Vibrant
Workplace fit
for the future
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Nestle India Full Year Earnings Call, 17th Feb 2022

Insights into a dynamic and resilient organization

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FY21 Results, Q421,
Reimagining Digital and
and Underlying Sustainability
retirement benefits Analytics Journey
Performance
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Sustainability
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Nestle India Full Year Earnings Call, 17th Feb 2022

Key Highlights: Strong growth continues; Profit from operations improved

FY 2021

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Total SalesTotal Sales Profit from Operations [#] Net ProfitNet Profit Earnings Per Share (EPS)Earnings Per Share
170 50 0.3 50.0 300
Growth
Growth
150 10.1% 45 21.7% 22.2% 29 15.9% 30.0 280 3.0%/11.5%
0.2 10.0 260
40 27 15.7% 14.7% (10.0) 240
130
241
Growth 0.2 25 (30.0) 220
35 Growth
13.1%
110 (50.0) 200
23 3.0%/11.5%
30
0.1 (70.0) 180
23.2
90
25 21 (90.0) 160
0.1 (110.0) 140
70 20 19
(130.0) 120
132.9 146.3 28.8 32.5 20.8 21.4 216 222
50 15 - 17 (150.0) 100
FY 2020 FY 2021 FY 2020 FY 2021 FY 2020 FY 2021 FY 2020 FY 2021
Profit from Operations (INR Bio) Net Profit (INR Bio)
Total Sales (INR Bio) % of Sales % of Sales (Reported) Earnings Per Share (INR)
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*Comparable values without the impact of Exceptional Item (Transition cost of Pension Plan)

Profit from Operations is derived from Profit before Tax less Other Income and adding back Finance Costs (Including Interest Cost on Employee Benefit Plans), Net Provision For Contingencies (Others), Corporate Social Responsibility Expense and Exceptional Items.

Nestle India Full Year Earnings Call, 17th Feb 2022

Key Highlights: Robust growth continues; Profit from operations improved

Oct-Dec Q4 2021 2021

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Total SalesTotal Sales Profit from Operations [#]
60
14 21.1%
50 Growth 20.0% 0.2
8.4% 12
40
10 Growth 0.2
30
14.7%
8
0.1
20
6
0.1
10
34.2 37.1 4 6.8 7.8
- 2 -
Q4 2020 Q4 2021 Q4 2020 Q4 2021
Profit from Operations (INR Bio)
Total Sales (INR Bio)
% of Sales
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Net ProfitNet Profit Earnings Per Share
20 40.0 75 Growth
18 65
-20.0%/16.6%
16 20.0
15.2% 55
14
14.1% 10.4% - 45 58
12
(20.0)
10 35
Growth
8 -20.0%/16.6% (40.0) 25
6
4 5.6 (60.0) 15
2 (80.0) 5 50 40
4.8 3.9
- (100.0) (5)
Q4 2020 Q4 2021
Q4 2020 Q4 2021
Net Profit (INR Bio)
Earnings Per Share (INR)
% of Sales (Reported)
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*Comparable values without the impact of Exceptional Item (Transition cost of Pension Plan)

Profit from Operations is derived from Profit before Tax less Other Income and adding back Finance Costs (Including Interest Cost on Employee Benefit Plans), Net Provision For Contingencies (Others), Corporate Social Responsibility Expense and Exceptional Items.

Nestle India Full Year Earnings Call, 17th Feb 2022

Sustained Volume & Mix Led Growth

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600
12.5 8.4 11.6 9.6 9.6 25.0
5.7
500
(25.0)
400
300
(75.0)
200
(125.0)
100
343 382 424 457 468 520
- (175.0)
#
2016 2017 2018 2019 2020 2021
Domestic Vol ('000 Tons)
* Volume & Mix Growth %
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600 40.0
35.0
500
30.0
25.0
400
CAGR 20.0
2016-21 300 13.0 15.0
9.1 8.9
8.0 10.0
200
10.5% 5.0
-
100
(5.0)
128 129 136 127
- (10.0)
Q1-21 Q2-21 Q3-21 Q4-21
Domestic Vol ('000 Tons)
* Volume & Mix Growth %
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* Volume and Mix Growth computed as per Internal reporting standards

Nestle India Full Year Earnings Call, 17th Feb 2022

Leading to Strong Value Growth

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150 16.9
8.2 10.9 10.9 8.5 10.7
5.0
130
(25.0)
110
(55.0)
90
(85.0)
70
(115.0)
50
30 (145.0)
88 95 105 117 126 140
10 (175.0)
#
2016 2017 2018 2019 2020 2021
Domestic Sales (Bio) Reported Growth %
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130
110
90
20.0
CAGR
2016-21 13.7
70 10.2 10.1
9.2
10.4% 50
30
34 33 37 36
10 (10.0)
Q1-21 Q2-21 Q3-21 Q4-21
Domestic Sales (Bio) Reported Growth %
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Nestle India Full Year Earnings Call, 17th Feb 2022

Growth by Town Class: Strong and Sustained

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Metro
120 40.0
30.0 26.8
13.6 100 19.5
15.4 16.1
20.0
10.0 80 5.1 8.3 7.5 6.3
60 -
(10.0)
40
(20.0)
(30.0)
20
101 100 86 102 102 108 103 109 108
(50.0) - (40.0)
Q4'21 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21
NNS (Indexed to Q1 2020) OG %
TC 2-6 Villages
16.6
17.0
13.7 20.0 160 21.0 30.0
9.3 9.1 [9.8 12.3 ] 15.0 140 11.0 12.0 [15.0 ] 12.0 10.0 9.0 20.0
10.0 120 2.0 10.0
100 -
5.0
0.1
80 (10.0)
- 60 (20.0)
(5.0) 40 (30.0)
(10.0) 20 100 98 117 112 135 125 123 110 (40.0)
- (50.0)
(15.0)
100 93 105 100 112 109 122 114
(20.0)
NNS (Indexed to Q1 2020) OG % NNS (Indexed to Q1 2020) OG %
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Mega City
110 13.6
7.7 9.9 8.7
90 (9.8) (5.9) (7.1) (6.3)
70
100 83 92 89 94 91 100 101
50
Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21
NNS (Indexed to Q1 2020) OG %
TC 1
140 30.0
21.5
140
120 13.7 [14.8 ] 15.9 20.0
120
9.3
5.7
100 6.7
4.0 4.3 10.0 100
80
80
-
60
60
(10.0)
40
40
20 (20.0) 20
100 87 101 100 107 101 107 105
- (30.0) -
NNS (Indexed to Q1 2020) OG %
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Town Class based on population Mega City > 40L Metro >=10L & <40L TC 1 >=1L & <10L TC 2-6 >=1L Rural 25 to 10000 +

Nestle India Full Year Earnings Call, 17th Feb 2022

Accelerated Profit from Operations

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24.0
52 21.7 22.2
21.0 21.1 22.0
42
20.0
18.1
17.6
18.0
32
16.0
22
14.0
12
12.0
17 18 24 26 29 33
2 10.0
#
2016 2017 2018 2019 2020 2021
Profit from Operations (INR Bio) % of Net Sales
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40.0
52
35.0
42
30.0
CAGR
32
2016-21 23.3 25.0
22.2 22.3
21.1
22
16.0% 20.0
12 15.0
8 8 9 8
2 10.0
Q1-21 Q2-21 Q3-21 Q4-21
Profit from Operations (INR Bio) % of Net Sales
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Nestle India Full Year Earnings Call, 17th Feb 2022

And Accelerated Net Profit

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50 Net Profit for 2021 25.0
reduced by
45 (Transition cost for Exceptional Item
Pension Plan)
40 20.0
35 16.0 15.7
15.9
30 14.3 14.7 15.0
12.1
25
10.6
23
20 10.0
15
10 5.0
5
10 12 16 20 21 21
- -
2016 2017 2018 2019 2020 2021
% of Net Sales
(Comparable)
Net Profit (INR Bio) % of Net Sales
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CAGR
2016-21
25.0%
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40 40 25.0 25.0
Net Profit for Quarter-
4 reduced by
Exceptional Item
35 35
(Transition cost for
Pension Plan)
20.0 20.0
30 30
16.7
16.0
15.6
15.2
25 25
15.0 15.0
20 20
10.4
10.0 10.0
15 15
10 10
5.0 5.0
5 5 6
6 5 6 4
- - - -
Q1-21 Q2-21 Q3-21 Q4-21
% of Net Sales
(Comparable)
Net Profit (INR Bio) % of Net Sales
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Nestle India Full Year Earnings Call, 17th Feb 2022

Domestic Sales: Broad Based Performance Across All Product Groups

Milk Products and Nutrition

Prepared dishes and cooking aids

Confectionery

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42.4% 2.6% 31.8% 16.7% 14.8% 20.4%
Contribution Growth Contribution Growth Contribution Growth
High base effect
Data represents Jan-Dec 2021
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*High base effect

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FY
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2021
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Powdered and liquid beverages

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11.0% 16.1%
Growth
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10.7% Domestic Sales Growth

Nestle India Full Year Earnings Call, 17th Feb 2022

Innovation Continues as a Priority

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10,000 6.0
9,000
4.9
5.0
8,000 4.4
4.3
7,000
4.0
6,000 3.4
5,000 2.7 3.0
Over 100
4,000
new
3,000 1.5 2.0 products
2,000
1.0 in last 5
1,000
years
- -
2016 2017 2018 2019 2020 2021
NPDI Sales (Mio) % Contribution to domestic sales
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• ~ 20 new Projects in Pipeline

• New Categories being considered

Nestle India Full Year Earnings Call, 17th Feb 2022

Thereby, Creating Significant Value for Investors

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Total Shareholders Return
3,638%
Market Capitalization
INR
Up 38.2 times vs.
1,900
FMCG Benchmark
Annualized Return
Index 14.7 times Bn
19.8%
INR 50 Bn
2001
USD 1.1 Bn
2021
(1 USD= INR 47.2)
USD 25.6 Bn
As at 31INR Billion is INR 100 crore. [[st]] Dec 2021 (1 USD= INR 74.3)
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[[st]] Dec 2021

INR Billion is INR 100 crore. Source: Bombay Stock Exchange.

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Nestle India Full Year Earnings Call, 17th Feb 2022

Storm Clouds on the Horizon – Global Commodity Prices

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Arabica Robusta Edible Sugar Wheat SMP Fresh Brent Aluminium Tinplate Plastic Paper Glass
Coffee Coffee Oil Flour Milk Crude -PP
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Nestle India Full Year Earnings Call, 17th Feb 2022

Reimagining Retirement Benefits

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Nestle India Full Year Earnings Call, 17th Feb 2022

The Future Ready Plan

Benefits to Employees

✓ Security: fully funded plan managed by financial experts ✓ Portability: fully portable benefits irrespective of age and service

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• ✓ Flexibility: choice of annuity products basis financial needs

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Earlier Pension Plan

‘Future Ready Plan’

✓ Aligned to market practice and is fully Benefits to Investors funded ✓ Embedded risk of a Defined ✓ A combination of Benefit Plan mitigated Frozen Defined bringing future cost certainty Benefits for past ✓ Favorable impact in the services and future Defined Contribution for future services Financial Impact ✓ Approximate Two thirds of the Defined Benefit Pension Liability covered

✓ Defined Benefit Pension Plan was unfunded ✓ No portability

✓ Pension eligibility only at retirement

• ✓ One-time, Exceptional cost of INR 2.4 Billion [EPS lower by ~ INR 18.]

• ✓ Investment of INR 13.7 Billion covering the obligation under the plan

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Nestle India Full Year Earnings Call, 17th Feb 2022

Transforming ourselves with Digital and Analytics

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Nestle India Full Year Earnings Call, 17th Feb 2022
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Multi-Intelligent Data Analytics System - Data-Fed, AnalyticsLed, Future Ready Platform for Business Interventions

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Enterprise-wide Data Cockpits for Business Advanced Analytical
warehouse Management Models
Retailer
Dynamic Brand Sales Supply
Segmentatio
Forecast
Review Planning Chain
n
Planning
Growth
Order Channels
Planning
Reco and E- Demand
Commerce Forecasting
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Nestle India Full Year Earnings Call, 17th Feb 2022

Granular Clusters – Leveraging the geographic dispersion within India

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Harnessing granular Mapping potential of
Big data Analytics
data lakes geo-targeted clusters
Income
6260 UA towns Consumption
555K+ Villages
Savings/
(100+ population) investments
Infrastructure
Media exposure
map is not to scale and for illustration
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map is not to scale and for illustration
purposes only
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Sources : Reserve Bank of India, Census of India, Economic Census Survey – Urban and Rural Sector, IRS Indian Readership & Other Media Data, Agriculture Prices in India, Fertiliser and Agriculture Statistics, Indiastat.com

Nestle India Full Year Earnings Call, 17th Feb 2022

Market Mix Modelling: Tangled web of marketing activity data unraveled

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Digital Optimize media
01
Trade paid investments
Digital Better leverage
Base 02
earned trade assets
Digital Build long term
03
owned equity
TV 04 Augment portfolio
strategy
Print
Tactical growth
05
Outdoor driver
PR
format
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Nestle India Full Year Earnings Call, 17th Feb 2022

You Can Always Ask Nestlé

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Brought alive Nestlé corporates Authentic, Relevant, Applicable Built positive inclination towards brands and stronger
trust credentials via a service Tools & Trackers and Regional business connect with focus on first party data for a
ecosystem Content cookie less future
Allows for
improved
CTR and
Drive Traffic
Cost
Healthy Recipes Expert Advice to Efficiencies
Brand
website YouTube
Give us
Pll
Google
Custom Meal AskNestle Build Trust Ads
Plan Community New User And
visits Advocacy
Asknestle.in Facebook
Sampled website-
Ads
Cookie interacted with
pool tools, and recipes Include as
data part of
Track Growth interspersed with
brands shopping
list
2021
4.8 Mio 23% 48 Sec 61.7% 9.3 K
Key Visits Repeats Average Bounce Rate Registrations
Time on site
Figures
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Nestle India Full Year Earnings Call, 17th Feb 2022

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Nestle India Full Year Earnings Call, 17th Feb 2022

NESCAFÉ Plan – 3 Pillars

Launched in 2012 with a demo farm and training center at Kushalnagar

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Farmers Community Planet
The sustainable
To exert a positive and The resilience and
sustainable change in the prosperity of farming management of
livelihood of coffee communities and the landscapes linked to our
value chain
farmers, their families and stakeholders across our
farm workers value chain
Monitoring and Evaluation (M&E) of the progress is assessed by a third party every year
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Nestle India Full Year Earnings Call, 17th Feb 2022

The NESCAFÉ Plan

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pictures taken pre-pandemic

Improving livelihoods

• ✓ Better varieties – Trials under Coffee board

• ✓ Yield improvement through the training by our Agronomists

Responsible Sourcing

• ✓ Traceability and the transparency - Where is it coming from and how is it produced

• ✓ Sustainability 4C Certification of farms

Environmental Impact

• ✓ Soil test and fertilizer recommendation

• according to the plant requirement and protecting soil

• ✓ Reduced water usage for the irrigation

Nestle India Full Year Earnings Call, 17th Feb 2022

Sustainability in Coffee Procurement

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2012 3 4400 30%+
NESCAFÉ Plan States covered Farmers connect of coffee sourced POURING
Launched sustainably RESPECT FOR
THE LAUNCH OF
PEOPLE AND
THE
THE PLANET
NESCAFÉ PLAN
18% 23% 2500 251 INTO YOUR CUP.
MARKED
THE BEGINNING
THAT’S THE
OF
Yield increase in Water savings on Soil samples Villages QUALITY
A STRONGER farms farm tested
COFFEE
SUSTAINABILITY
THAT COMES
STRATEGY
FROM THE
NESCAFÉ PLAN.
INR 3.5/Kilo 7000 tonnes
premium for of sustainable coffee
sustainably sourced purchased by us last
coffee year
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Nestle India Full Year Earnings Call, 17th Feb 2022

Key Takeaways This Time

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Sustainable Volume Strong Value Growth Sustainable Innovation continues
Led Growth across Rural and performance to be an engine of
Urban India growth
Implemented Strong commitment Sustainable initiatives Immediate concerns
future ready plans to transform using at the core of being a on inflation, while the
for our people data and analytics force for good road looks promising
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Nestle India Full Year Earnings Call, 17th Feb 2022

Determined in Adversity, Inspired to Grow.

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