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Unilever Full Year 2020Results & Strategic RefreshAlan Jope & Graeme Pitkethly4th February 2021

Safe harbour statementThis announcement may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private SecuritiesLitigation Reform Act of 1995. Words such as ‘will’, ‘aim’, ‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vision’, or the negative of these terms and other similarexpressions of future performance or results, and their negatives, are intended to identify such forward-looking statements. These forward-looking statements arebased upon current expectations and assumptions regarding anticipated developments and other factors affecting the Unilever Group (the ‘Group’). They are nothistorical 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 thoseexpressed or implied by these forward-looking statements. Among other risks and uncertainties, the material or principal factors which could cause actual results todiffer materially are: Unilever’s global brands not meeting consumer preferences; Unilever’s ability to innovate and remain competitive; Unilever’s investment choicesin its portfolio management; the effect of climate change on Unilever’s business; Unilever's ability to find sustainable solutions to its plastic packaging; significantchanges or deterioration in customer relationships; the recruitment and retention of talented employees; Unilever's ability to find sustainable solutions to its plasticpackaging; significant changes or deterioration in customer relationships; the recruitment and retention of talented employees; disruptions in our supply chain anddistribution; 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 meethigh and ethical standards; and managing regulatory, tax and legal matters. A number of these risks have increased as a result of the current COVID-19 pandemic.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 disclaimsany obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’sexpectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Further details of potential risks anduncertainties affecting the Group are described in the Group’s filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and ExchangeCommission, including in the Annual Report on Form 20-F 2019 and the Unilever Annual Report and Accounts 2019.2

Full Year 2020 Results & Strategic RefreshToday’s agendaFull Year 2020 ResultsStrategic Refresh3

Full Year 2020 Results

2020: Full year resultsCompetitivenessAbsolute ProfitCashUOP% Business Winning FY 50% 9.4bnFree Cash Flow 0.7% 7.7bn 60%(60)bps 1.5bn% Business Winning Q4UOMvs FY 2019Absolute UOP as reported, UOP growth rate on constant basis5

Competitive growth through operational excellenceImproved penetrationImpactful innovationDesign for channelPurposeful brandsFuel for growth6

Strategic change g theportfolio7

1.9%FY 2020 GrowthUSG 0.0%(0.3)%4.4%FY USG3.5% Volume-led competitive growth with 60%business winning value share (Q4) Virus continues to cause volatility acrossmarkets with channel closures and restrictedliving returning Some markets opening up economies toprotect livelihoods whilst balancingrestrictions to protect health Volatility to continue into 20210.2%UPGUVG3.3%Q12020Q22020Q320201.6%FY UVGQ420208

51bnCategory dynamicsTurnover FY2020 8bnTO FY 2020LaundryFY 1% 9bnTO FY 2020HygieneFY 16%26%19%7%Q1Q20%(1)%Q1Q22%Q3Q4Prestige11%Q34%FY (2)%8%Q4(2)%Q1 15bnTO FY 2020In Home(10)%Q2Q3 0.7bnTO FY 2020Personal careFY (4)%(5)%(2)%Q4Q1(10)%(3)%(2)%Q2Q3Q4Out of homeFY (26)%FY 12%17%4%Q1Hygiene: Skin Cleansing Home & HygienePersonal Care: Personal Care excl. Skin CleansingQ212%Q3 14bnTO FY 202013%(18)%Q4Q1(16)%(42)%Q2Q3 4bnTO FY 2020(20)%Q49

1.2%Beauty & Personal CareSkin Cleansing 15% FY USG 9% Q4 USGFY USGPrestige(2)% FY USG(5)% Q4 USG1.2%FY UVGRest of BPC(4)% FY USG(2)% Q4 USG 50%business throughecommerce channelRest of BPC: Hair care, Deodorants, Skin Care, Oral Care10

1.3%Foods & RefreshmentFY USG0.1%FY UVGOut of HomeIn Home 12% FY USG 13% Q4 USG(26)% FY USG(20)% Q4 USGFood Service impacted by second wave lockdowns(71)% April USG(25)% Q4 USGSecond lockdownsJUFS included in other categoriesFMAMJJASOND11

4.5%Home CareFY USGHome & Hygiene 17% FY USG 14% Q4 USG5.1%FY UVGLaundry 1% FY USG 2% Q4 USG12

eCommerceeCommerce Growth 61%9%Brazil 44%Omnichannel 99%China 54%Pure play 48%USA 123%eB2B 65%eCommerce % of SaleseB2B excludes UFSGrowth rates FY13

0.4%Asia / AMET / RUBUSG (3.7)%(1.8)%4.5%FY USG2.6%UPGUVG0.5%2.1%Q12020Q22020Q320200.0%FY UVG China: back to normal after strict lockdown India: economic pick-up SEA: markets in decline Turkey: strong volume-led performance Winning competitively across all regionsQ4202014

4.1%Latin AmericaUSG4.9%(0.8)%FY USG6.5%UPGUVGQ12020Q22020Q320200.9%FY UVG5.8% Brazil: growth resilient but limited mobility2.9% Argentina: growth despite restrictions2.8% Mexico: decline in difficult environment Competitive in volatile regionQ4202015

7.7%North AmericaUSG4.8%9.5%FY USG9.1%UPGUVG8.1%FY UVG7.1%8.5% In Home F&R growth continues Hygiene demand high but down from peak Food Service & Prestige impact of c.(2.4)% Competitiveness improving sequentially(1.3)%Q12020Q22020Q32020Q4202016

(1.0)%EuropeUSG1.4%FY 0200.2%FY UVG Channel closures impacting Out of Home In home F&R demand high UK & Germany: growth maintained Italy & Spain: declines driven by Out ofHome ice cream Strong and improved competitivenessQ4202017

FY 2020: Turnover -2.4%USG 1.9%1.6%0.3%1.4%(0.2)%A&D 1.2% 53.6 bn 52.0 bn(5.4)% 50.7 bn18

FY 2020: Underlying operating marginGross Margin (0.5)%BMIH1 1.0%H2 (1.0)%0.4%0.0%(0.1)%19.1%(0.9)%18.5%19

FY 2020: Underlying earnings per shareCurrent Underlying EPS (2.4)%3.0%0.3%1.9%(1.6)%0.5% 2.65 2.55Constant Underlying EPS 4.1%(6.5)% 2.4820

FY 2020: Cash flow, balance sheet & returnsCashFree Cash Flow 7.7bn 1.5bnVs 2019Cash ConversionCash ConversionNet DebtNet debt/EBITDAROICROIC129%1.8x18%Above 100%since 2018 20.9bnMaintained inhigh teensNet debt21

FY 2020: SummaryResilience, agility, and responsivenessStepped-up competitiveness, profit & cash deliveryContinued strategic progress22

Strategic RefreshSustainable business driving superior performance

Sustainable business driving superior performance1. Vision and purpose2. Our differentiating strengthsWhat we are goingto cover3. Delivery against strategy4. Strategic choices5. Multi-year financial framework6. Conclusion24

Vision and PurposeOur visionis to be the global leader insustainable business. We willdemonstrate how our purpose-led,future-fit business modeldrives superior performance,consistently delivering financialresults in the top third of our industry.25

Differentiatingstrengths

Our differentiating strengths1. Powerfulportfolio of leadingcategory andbrand positions2. Strong presencein growth marketsof the future3. The globalleader insustainablebusiness27

Our differentiating strengths1. Powerful portfolio of leadingcategory and brand positionsGlobal categoryleadershippositions81%brands #1 or #2 intheir market50%of turnover from 13billion Euro brandsMost effectivemarketerfor 4 consecutive years28

Our differentiating strengths: Powerful brand portfolio29

Our differentiating strengths1. Powerful portfolio of2. Strong presence in growthleading category andmarkets of the futurebrand positionsLeadingpositionin growth marketsMarketdevelopmenta core capability40bnconsumer reach points;more than any othercompetitor93%local leaders30

Our differentiating strengths: Strong presence in growth markets of the futureUnilever market position#4#1#7#1#1#2#1#2#1#3Absolute GDP growth 2020 – 2030 US trn14.1Unilever sales bn9.48.65.04.72.82.22.50.9 1.20.7 31

Our differentiating strengths3. The global leader insustainable businessTopLeaderof GlobeScanSustainability Leaderssurvey for last 10 yearsin Dow JonesSustainability Indexsince 2014‘A/A-’StrategyRatings in CDP: Climate,Water and Forestfully embedded inour business and brandswith purpose32

Our differentiating strengths: Top of GlobeScan SustainAbility Leaders Survey4226148Unilever PatagoniaIkeaInterface8Natura& Co7Danone6Tesla5Nestle44MicrosoftOrsted333Marks &SpencerL’OrealTataExperts, unprompted, total mentions, 202033

Our differentiating strengths: The global leader in sustainable businessBrand power drives volume sharePurpose drives brand power9080R² 0.76Volume Share70605040R² 0.713020100Brand Power-10010203040506070Brand Power34

Our differentiating strengths: The global leader in sustainable urposefulbrandsgrowing 2x 1.2bn100%54 of 75since 2008renewableelectricity acrossour operationsEmployer of choice inmarkets measured35

Our differentiating strengths1. Powerfulportfolio of leadingcategory andbrand positions2. Strong presencein growth marketsof the future3. The globalleader insustainablebusiness36

Delivery againstour strategy

Our 2017 strategy scorecardUSG in 3-5% range3% average, 2017-19Simpler, faster organisationFoods & Refreshment integrated, COO role, delayered organisationAccelerated margin progressionUOM 16.4% 19.1%100% cash conversion by 2020 100% since 2018Faster portfolio evolutionBuilt Prestige business, Spreads exit, Tea separationSimpler capital/legal structureUnification of legal structureIncreased leverage & returnsSustained high teens ROIC, net debt at 1.9x EBITDA 6bn savings 2017-1938

A flatter, leaner organisation 2018 organisationGlobal FunctionsSupply ChainFinanceHuman ResourcesLegalGlobal lustersBeauty & Personal CareHome CareFoodsRefreshmentN AmericaLatin AmericaEuropeNAMETRUBAfricaN AsiaS AsiaSEAA39

A flatter, leaner organisation COO15 performance management unitsNorth AmericaUK andIrelandMiddle EuropeNAMET and RUB*North AsiaSouth East Asiaand ThailandIndonesiaVietnamLatin AmericaWestern EuropeEast EuropeAfricaAustralia andNew ZealandSouth AsiaPhilippines*North Africa, Middle East, Turkey, Russia, Ukraine & Belarus.40

and a new model for operational excellenceImprovedpenetration60% cells improvingImpactfulinnovationCovid-19 response: Lifebuoy, Dove, DomestosDesign forchanneleComm: 61% USG FY ‘20PurposefulbrandsNearly 60% of brands seen as more purposefulFuel forgrowthFree cash flow: 7.7 bn41

Driving a rebound in competitiveness% Business winning value share during 2020% Business winning value share since %42%Dec1848%47%65%53%47%Mar19Jun19Sep19Dec19% business winning, 20Dec20% business winning, last 12 weeks42

Strategic Choices

Five strategic choices1. Develop our portfolio into high growth spaces44

We will continue to evolve ourportfolio towards higher growthsegments inhome care, beauty, personal care,and foods.

Clear criteria for investment choicesScaleHigh growthHygieneSkin carePotential ingrowth countriesPrestigebeautyRoute toleadershipFunctionalnutritionBranding &technology sensitivePlant-basedfoods46

HomeCareBeauty &Personal CareIce CreamScratch cookingPlant-based foodsFunctional nutritionPrestige BeautySkin CareHair CareOral CareDeodorantsSkin CleansingHome & HygieneLaundryPortfolio evolution into higher growth spacesFoods &Refreshment47

Ice CreamScratch cookingPlant-based foodsFunctional nutritionPrestige BeautySkin CareHair CareOral CareDeodorantsSkin CleansingHome & HygieneLaundryPortfolio evolution into higher growth spacesPriority focus area48