Unilever – Barclays Global Consumer Staples conference

Andrew Stephen

September 7th 2016

This announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words such as ‘will’, ‘aim’, ‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vision’, or the negative of these terms and other similar expressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the “Group”). They are not historical facts, nor are they guarantees of future performance.

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. Among other risks and uncertainties, the material or principal factors which could cause actual results to differ materially 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; inability to find sustainable solutions to support long-term growth; customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain; the cost of raw materials and commodities; the production of safe and high quality products; secure and reliable IT infrastructure; successful execution of acquisitions, divestitures and business transformation projects; economic and political risks and natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the Group expressly disclaims any 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.

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 Group’s Annual Report on Form 20-F for the year ended 31 December 2015 and the Annual Report and Accounts 2015.

SAFE HARBOUR STATEMENT

Agenda for today

Profitable growthEmerging markets

A world of opportunity The next wave of savings

Portfolio & Innovation

Our strategy for long-term value creation

Sustainable Living: More growth, Lower costs, Less risk, More trust

Winning with brands and innovation

Winning in the marketplace

Winning through continuous improvement

Winning with people

Step up profitabilityScale household

care

Grow the coreBuild premium

Accelerate growthStrong cash flow

Grow ice cream ROICAccelerate tea

Differentiated category strategiesThe Compass

Food

Consistent Competitive

Profitable Responsible

H1 2016 - consistent, competitive, profitable & responsible growth

Sustainable living brands

1%faster growth

+4.3%

2013

+2.9%

2014

+4.1%

2015

+4.7%

H1 2016

Core operating margin

+50bps

H1 2016 H1 2016

Unilever

Market

+5.7%

PC

+2.3%

+6.5%

HC

+4.1%

RefreshH1’16Underlying sales growth Nielsen market growthUnderlying sales growth

H1 2016 results - delivering against strategic priorities

Building premium in Personal Care Accelerated growth in Foods

Improved ROIC in Ice Cream

Price index > 120

USG%

2.3%Brands >120 price index

+8%

H1 USG%

1.5%

15%

Estimated H1’16 MAT, vs. H1’14

+130bps+300bps

Improved margins in Home Care

COM%

9.8%7.6%

15%6.3%

(0.6%)

Agenda for today

Profitable growthEmerging markets

A world of opportunity The next wave of savings

Portfolio & Innovation

A strong portfolio of brands Increasing consumer reach

Share of top 50 FMCG brands based on shopper decisions

14%24%

UnileverNearest competitor

Source: Kantar World Panel Report Analysis of 300 billion shopping decisions to determine how many times a brand was chosen during the course of a year

Unrivalled global scale

Number of households gained in 2015

32m

25m

24m

19m

18m

16m

Sunsilk

Lifebouy

Dove

Close-up

Vim

Lux

Global scale and local relevance

Local brandsGlobal brands, locally adapted Global brands at scale

Bigger, better, faster innovation

More differentiated technology Faster global roll-outs

45% of projects with differentiated technology

Faster local execution

Up to 30% reduction in roll-out time Up to 50% reduction in lead time

Innovation in high-growth segments

NATURALS

AYURVEDIC

FAL Ayurvedic Indulekha

Neutral detergent

Ben & Jerry’sNon-Dairy

TRESemmé Botanique

Lipton Pure Leaf

Knorr meal makers

FREE-FROM

Ayush

Lux Silicone-free

AcquisitionsDisposals

2011 2012 2014 20152013 2010 2011 2013 20142012

+€3.8bn

20092010

-€3.0bnT/O T/O

20152016

1.9x TO multiple

2.3x TO multiple

Personal Care Foods Refreshment Home Care

2009 2016

Active portfolio management

Personal Care now our largest business

Personal Care

Foods

Refreshment

Home Care

38%

24%

19%

19%

28%

35%

19%

18%

% turnover

Personal Care

Innovating with flexible business models

More entrepreneurial

New segments

New channels

New capabilities

High-growth

Foods Refreshment

Home Care

Innovating with flexible business models

Personal Care Home Care

Foods Refreshment

Prestige skin care Subscription-based male grooming Purifiers

Food service Retail-led Pepsi-Lipton JVBen & Jerry’s

Agenda for today

Profitable growthEmerging markets

A world of opportunity The next wave of savings

Portfolio & Innovation

Emerging Markets fundamental to Unilever’s growth and value creation

58% turnover

55% EBIT

70% volume

+4.3%

+1.3%+2.7%

+4.3%

+5.0%

+2.9%

+5% 25 year average

+9%25 year average

Underlying volume growth

Underlying sales growth

REFRESHMENT

FOODS

HOME CARE

PERSONAL CARE

Macro trends driving growth across our categories

800m more people in middle income: Increased per capita consumption

400m more people in EM cities: More kitchens and more bathrooms

300m more women in the workforce:More Personal Care, meal solutions & laundry aids

+7%€12bn

€8bn +6%

+7%

+9%

€5bn

€5bn

2015 Turnover USG%

A portfolio that consistently builds scale

Spans price points and consumer needs

Local touch: 80% of EM leadership teams are locals

Example: Laundry

Mor

e be

nefit

s

Rising income

Global brands, made locally relevant

4million

8million

Outlets reached directly or via distributors

Strengthening our distribution in small stores

An end-to-end digitally enabled solution Rolling out across our distributors

2020 target: Cover 50% of indirect sales

2013 2014 2015 2016

ThailandVietnam

PhilippinesIndonesiaMyanmar, Cambodia

KenyaSri Lanka

Ghana

Tanzania

Cote D’Ivoire

Nigeria

UAE

India

Extending our distribution in new channels

Grocery.comMarket Place

Beauty.com Hybrid

India: Taking off in different waysChina: already well-established

2010 2011 2012 2013 2014 2015 Q1'16

China

India

E-commerce as % of sales

Building e-commerce in key geographic hubs

10%

5%

Alibaba Tencent Baidu

Agenda for today

Profitable growthEmerging markets

A world of opportunity The next wave of savings

Portfolio & Innovation

Continuous improvement in our cost base

€1bnper annum

Maxing the mix Supply chain savings Project Half Advertising efficiency

2012 2015

GM% + 170bps

2012-2015

> €500m savingsOverheads % sales

>€200m2012-2015

Building resilience & agility to underpin profitable growth

Connected 4 GrowthMore global

and More local

Net Revenue Management

Zero Based Budgeting

Peer

rang

e

Zero Based Budgeting

Decisions based on data

Focused on value & growth

Driven by experienced business leadership

Right challenge, right time

Our approach

TravelPromotional re-pack

Market research

Benchmarking examples

Consultants

Value targeting

Median

Best in class

Building resilience & agility to underpin profitable growth

Connected 4 GrowthMore global

and More local

Net Revenue Management

Zero Based Budgeting

Savings of at least

€1bn by 2018

Plus ongoing supply chain savings €1bn per annum, re-invested

Creating long-term value – even in challenging market conditions

Unilever

Market

2013 2015

Underlying Sales Growth Core Operating Margin

+2.9%

Core EPS

+6% p.a.

Current

+11% p.a.

Constant

+40bps

+40bps+30bps

Cumulative Free Cash Flow

+4%

2013-2015 2014

€12bn

Return on invested capital Dividends

+19%+18%

2012 2015

2013-2015

+7%pa

2013-2015

Our priorities remain unchanged

Volume-driven growth ahead of our markets

Steady and sustainable improvement in core operating margin

Strong cash flow

Unilever – Barclays Global Consumer Staples conference

Andrew Stephen

September 7th 2016