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CFO Day 2009 Conference

Noordwijkerhout, The Netherlands, 11 June 2009

Jim Lawrence, CFO Unilever 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. 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 futureperformance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these 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 the Annual Report & Accounts on Form 20-F. These forward-looking statements speak only as of the date of this presentation.

Safe harbour statement

IntroductionPersonal background

Agenda

• Business Overview

• One Unilever Change Program

• Growth Strategy

• Leadership in Finance

• Performance & Outlook

Business OverviewThe essence of our vision in 1890

“To make cleanliness commonplace, to lessen the work for women;

to foster health and contribute to personal attractiveness;

that life may be more enjoyable and rewarding for the people

who use our products”.William Hesketh Lever, 1890

Unilever

Business OverviewA leading global consumer company

Unilever’s 2008 sales: € 41 billion

Annual Sales (in Euro)

Business OverviewA leading consumer products company

*Based on latest reported results; average 2008 exchange rates.

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Business OverviewScale and geographic reach

The Americas |€13bn | 32%

2008 Unilever Turnover €41bn | 100%

Western Europe | €13bn | 32%

Asia Africa CEE | €15bn | 36%

Business OverviewA leading global consumer companyBusiness OverviewUnrivalled strength in D&E markets

Unilever

Annual Sales in D&E markets (% of total)*

*Based on latest reported results; average 2008 exchange rates.

51% of Unilever’s Q1 2009 sales in D&E markets

Personal Care€12bn (28%)

Ice Cream & Beverages

€8bn (19%)

Savoury, Dressings & Spreads

€14bn (35%)

Business OverviewBalanced category portfolio

Home Care€7bn (18%)

Business OverviewStrong leadership positions

Savoury #1

Dressings #1

Tea #1

Ice Cream #1

Spreads #1

Deodorants #1

Mass Skin #1Laundry #2

Daily Hair Care #2Oral Care Local Strength

Household Cleaning Local Strength

Business OverviewBig global brands

Top 25 brands = ¾ of Unilever’s sales

Business OverviewLocal roots with global scale

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Agenda

• Business Overview

• One Unilever Change Program

• Growth Strategy

• Leadership in Finance

• Performance & Outlook

One Unilever ProgramOverview of key changes

Governance,Board

Brands & Innovation

Go-to-Market

Cost Base

One CEO,Non-Exec Board

2005 2006 2007

NewChairman

2008

New CFO

2009

NewCEO

OneCategory

One R&D

One Unilever MCO’sCustomer

Focus

Factory Simplification

Overhead

Simplification

2010

Global CategoryTeam

Chief Executive Officer

PresidentAsia Africa CEE

PresidentGlobal Categories

President Americas

Chief HROfficer

One Unilever ProgramUnilever’s top management team

Chairman

M. Polk H. Manwani V. Banga S. Ogg J. Lawrence

P. Polman M. Treschow

President Western Europe

D. BaillieChief R&D

Officer

G. Berger P. SigismondiCFOChief SC

Officer

One Unilever ProgramA global management team

Chief Executive Officer

PresidentAsia Africa CEE

PresidentGlobal Categories

President Americas

Chief HROfficer

One Unilever ProgramStrengthened with external top talent

Chairman

M. Polk H. Manwani V. Banga S. Ogg J. Lawrence

P. Polman M. Treschow

President Western Europe

D. BaillieChief R&D

Officer

G. Berger P. SigismondiCFOChief SC

Officer

One Unilever ProgramMulti-country organisations

(2005)Pre-One Unilever

Fewer touch points

Quicker decisions

Improved

performance

Country/Category

matrix

(2007)One Unilever

(2008) Multi-Country

& Multi-Category Org

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One Unilever ProgramRadical simplification in W Europe

• Past • Today

A complex, slow moving organisation

Country led factory and distribution networks

Multiple Finance and HR systems and processes

65 Companies

90 factories>600 depots

3 legacy systems+100 processes

Simpler, cost efficient, customer facing operation

A single EuropeanSupply Chain Company

Single European system and standard processes

9 MCO’s

65 factories*<300 depots*

1 SAP

*Factory and depot reduction targets will be achieved by end 2010.

One Unilever ProgramExample: The Netherlands

2005 20083 Separate Companies

3 Separate Boards

3 Head Offices

1 Board

1 Company

1 Head Office

>1000 Points of Contact

<100 Points of Contact

3 Transaction Systems

6 Factories

1 Transaction System

3 Factories

One Unilever Program

Number of managers almost halved

Management headcount reduced by 45%

0

200

400

600

800

1000

1200

2005 2008

Top

3 le

vels

of

man

agem

ent

29From 100 units to 20-25 MCO’s

Multi-country organisations

50-60Factory closures / streamlining

Actual to datePlan 2007-2010

One Unilever Program

Restructuring is well on track

70

Headcount reduction >10,00020,000

Restructuring savings €0.8bn€1.5bn

Restructuring charges €1.8bn€3.0bn

Agenda

• Business Overview

• One Unilever Change Program

• Growth Strategy

• Leadership in Finance

• Performance & Outlook

Growth StrategyStrategic growth priorities

PersonalCare

Developing & Emerging Markets

(D&E)

Vitality

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Growth StrategyVitality

Formulation & processing technology

Bouillon jelly proprietary technology

Making foods healthier

Catechin rich tea helps to take care of

your body shape

Rainforest Alliance certified tea

Driving sustainability

Stronger functional claims

Authentic quality

Growth StrategyVitality

Bertolli MealsVIDEO

Lipton LineaVIDEO

Growth StrategyPersonal Care

Stronger functional claims

Superior technology

Sensorial experiences

New consumer segments

Compelling Sensorials: “Wake Up. Go Fresh”

Superior skin whitening & anti-ageing

technology

A unique formula which makes underarm

hair feel finer, softer and visibly reduced

Axe hair care range targeted at

young guys

Growth StrategyPersonal Care

Dove DeodorantsVIDEO

Axe HairVIDEO

Growth StrategyD&E Markets

Population growth

Trading consumers up

Consumer penetration

Conversion in foods

1 billion new consumers

in the next 10 years

Loose leaf tea

Standard teabags

Pyramid teabags

Re-closable sachets Mini sticks Mini cubes

Packaged food opportunity

Growth StrategyD&E Markets

Surf Excel IndiaVIDEO

Rama South AfricaVIDEO

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Number of category innovation projects

0

1000

2000

3000

4000

5000

6000

2005 2006 2007 2008 2009

Growth StrategyFewer, bigger innovations

• From 5000+ projects to 700

• Average project size increased 10x

Growth StrategyFaster roll-out to more markets

30 markets

40 markets

52 markets

20 markets

55markets

Growth StrategyFocus on offering consumer value

Growth StrategyFocus on offering consumer value

RexonaNetherlands

VIDEO

SunNetherlands

VIDEO

Agenda

• Business Overview

• One Unilever Change Program

• Growth Strategy

• Leadership in Finance

• Performance & Outlook

Leadership in FinanceEconomic impact of the recession

Weak Strong

Strong

Weak

Relative Market Demand

BalanceSheet

Raise CapitalCut Dividends

No M&A

OpportunitiesAccess to Capital

M&A Deals

ReorganiseCapital Structure

Chapter 11

Capacity Cost Reduction

Cash NeedsUnilever

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Leadership in FinanceChanging role of Finance*

• Role of CFO– Treasury to top of the agenda– Expanded role in risk management– Increased grip on the numbers

• Change in focus– Maintaining funding and liquidity– Rigorous cost and cash flow management– Better forecasting and faster feedback

• Impact on Finance teams– Down-sizing and up-skilling

* CFO Survey by Whitehead Mann Partnership (preliminary results).

Consistent visibility

Managing flexibly

Winning in our markets

Fixed annual plans Flexible 8Q rolling forecasts

One off resource allocation Dynamic resource allocation

Meeting internal plan targets Growing ahead of our markets

From To

Leadership in FinanceDynamic performance management

Leadership in FinanceMarking the end of the “annual plan”

“Break the wall of December 31”

Jan 08

July 08

Oct 08

Dec 31

Jan 09

One quarter forecast

History

Leadership in FinanceReplaced with 8-quarter rolling forecasts

Jan 08

July 08

Oct 08

Dec 31 Dec 31

One quarter forecast

History

“Add a quarter, every quarter”

Leadership in FinanceIntegrated business planning process

Local In-Market Activities

Communications

GlobalStrategic inputs

Local Operational plans

Fully integrated 8 quarter rolling forecastsFinancial forecasts

InnovationsStrategic Plans

“It’s not just a Finance exercise”

DPMLeadership in FinanceAllocating resources dynamically

Mar

ket D

imen

sion

Product Dimension

$

$

$

$

$

$

$

$

$

From China Skin to Brazil Savoury

From India Laundry to US Deos

“When needed, where needed”

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Leadership in FinanceEnabling working capital reduction

0

1

2

3

4

5

6

7

8

9

10

1998 1999 2000 2001 2002 2003 2004* 2005 2006 2007 2008

%

8.8%

2.8%

Focus strengthened after commodity cost driven increase in 2008

*IFRS basis from 2004 onwards

Agenda

• Business Overview

• One Unilever Change Program

• Growth Strategy

• Leadership in Finance

• Performance & Outlook

Performance & Outlook2008 Financial performance

€1.35€1.79Earnings per share

+5.5%+7.4%Underlying sales growth

+20 bps+10 bpsUnderlying margin change

13.1%17.7%Operating margin

€40.2bn€40.5bnTurnover

20072008

Performance & Outlook4th year of accelerating growth

0%

1%

2%

3%

4%

5%

6%

7%

8%

2004 2005 2006 2007 2008

Un

der

lyin

g s

ales

gro

wth

+0.4%

+3.1%+3.8%

+5.5%

+ 7.4%

Financial PerformanceStrong balance sheet and cash flow

• Strong single A rated balance sheet

• Access to funding at attractive conditions

• Healthy and consistent cash flow generation

• Sustainable, attractive, growing dividends

• Move to quarterly dividend in 2010

Bertolli Olive Oil

NA Laundry

Lawry’s Seasonings

Boursin Cheese

Including:

Performance & OutlookCompleted disposal program

Disposals completed with €1.6 billon turnoverAverage 1.8x sales multiple

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Performance & OutlookSelective bolt-on acquisitions

Buavita Indonesia TIGI GlobalInmarko Russia

Baltimor RussiaNapoca RomaniaWonderlightSri Lanka

Performance & OutlookPriorities

1. Reignite volume growth

2. Protect cash flow and margin

Key Messages

Strong brand portfolio and geographic reach

Changing to become a leaner and faster business

Profitable growth in Vitality, D&E and Personal Care

Managing dynamically to benefit from the recession

Growing volume while protecting cash & margin

Questions