Unilever : Bernstein Strategic Decisions Conference 2019

SUSTAINABLE BUSINESS

DRIVING SUPERIOR PERFORMANCE

Graeme Pitkethly, September 2019

SAFE HARBOUR STATEMENT

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 including to plastic packaging; the effect of climate change on Unilever's business; significant changes or deterioration in customer relationships; the recruitment and retention of talented employees; disruptions in our 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.

These forward-looking statements speak only as of the date of this announcement. 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 Annual Report on Form 20-F 2018 and the Unilever Annual Report and Accounts 2018.

Unilever today

190 countries	2.5 billion consumers	85% of brands
in leading positions

Europe			Home
		Care
23%		Asia		20%	Beauty &
		AMET			Personal
North		RUB			Care
	45%			42%
America				Foods &
18%
Latin			Refreshment
			38%
	America
	14%
59% Emerging Markets		3 strong Divisions

80% of leaders are local. #1 FMCG employer in 50 countries

Turnover 2018 excl Spreads, excl VZ Price, and excl Argentinian price from Q3 onwards.

Our investment case

Purpose-led,Multi-stakeholder

Future-fitmodel

Consumers Customer

Employees Planet

Society Shareholders

Superior financial

performance

2020 targets

GROWTH 3-5%

MARGIN 20%

UOM

CASH CONVERSION 100%

SUPERIOR

LONG

TERM

VALUE

Sustainable business driving superior financial performance

Competitive growth

5 Year Average

3%-3.5%	3.5%
Market	USG
growth

Margin improvement

5 Year UOM

18.4%

17.5%

16.4%

15.5% 15.6%

2014

2015

2016

2017

2018

UOM not restated for IFRS 16

Cash generation

	2018
€10bn	€5bn
Cash	Free cash
returned to
flow
shareholders

Top 1/3 TSR

200%

160%

120%UL

80%

40%

0%

5yr TSR to Sep 2019, vs peers