Building the Unilever of the Future From Categories to Divisions & Simplification

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Agenda 1. 2. 3. Categories to Divisions Simplification Employment aspects 4

1. Categories to Divisions 5

Categories to Divisions • On 15 March, the Unilever Boards announced the next steps in the evolution of Unilever to a simpler, more agile and more focused company Our structure will be based on three Divisions: • - - - Beauty & Personal Care; Home Care; and Foods & Refreshment • As with the Categories, the Divisions will continue to be responsible for strategy, portfolio and innovation and continue to develop global and local innovation, including consumer insights, research, product development and advertising The Divisions will continue to leverage the strengths of our local MCO leadership teams, including the CCBT’s, who continue to hold responsibility for delivery of the P&L From now on the Divisions will have greater responsibility for managing financial performance by setting growth and profit targets within a range for each Cluster - after consultation with the Clusters - which reinforces the critical role of our local leadership, as set out in our C4G principles The Divisions will also be able to make trade-offs and reallocate resources in terms of budget [BMI] during the year across markets. The Divisions will continue to benefit from Unilever’s global scale, including access to capital, procurement across the value chain, shared services and information capabilities The evolution to Divisions will not result in organization changes to reporting lines and to MCO structures or changes to location of roles • • • • • 6

2. Simplification 7

Simplified Existing Group Structure Depositary Receipts for Ordinary Shares Depositary Receipts for 7% Subshares NV Ordinary Shares NV Preference Shares NV Special Shares Deferred Shares PLC Shares PLC ADSs NV NYRSs Trust Office Foundation Agreements Investments 8 Unus Holding B.V. PLC Other PLC Subs Unilever Ltd. Other Subs NV Unilever US Investments B.V. Other NV Subs Others Subs

Simplified Post-Simplification Group Structure New NV NewONrdVinSarhyares Shares New NV ADSs New NV [ADRs / or NYRSs NYRSs] Subs 9 New NV PLC New BV Sub Other PLC Subs Unilever Investments Ltd Unilever US Investments B.V. Other NV Other Subs Other Subs Unus Holding B.V. Traded on the NYSE (US) Admitted to: (i) listing and trading on Euronext (Amsterdam); and (ii) the premium listing segment of the Official List and trading on the Main Market (UK)

What is Simplification? • Simplification is the process of collapsing the dual-headed (PLC and NV) holding company structure and bringing the Unilever Group under a single new listed holding company, New NV This would be achieved by means of: • - The UK Scheme: a UK scheme of arrangement whereby PLC would become a wholly owned subsidiary of New NV; and The Dutch Merger: a Dutch triangular legal merger whereby NV would be merged in to New BV Sub, a wholly owned subsidiary of New NV, upon which NV ceases to exist - • Simplification would also entail the cancellation of the NV preference shares, and the termination of the NV depositary receipt structure As a result of Simplification: • - PLC and NV Shareholders and ADS and NYRS holders would become shareholders and ADS or NYRS holders of New NV respectively New NV would own 100% of PLC and 100% of New BV Sub (the successor to, and holder of all the assets and liabilities of, NV) New NV would have one class of ordinary shares NV Shares would be delisted from Euronext in Amsterdam, and NV NYRS would be delisted from the NYSE PLC Shares would be delisted from the LSE, and PLC ADSs would be delisted from the NYSE New NV Shares would be listed on Euronext in Amsterdam and the LSE; New NV ADSs or NYRSs would be listed on the NYSE The ownership structure of the Unilever group companies would not change 10 - - - - - -

UK Scheme - Implementation A UK Scheme is a statutory procedure under the UK Companies Act between PLC and its shareholders PLC Deferred Shareholders* PLC NV eholders To become effective, the UK Scheme would require: • the approval of a majority in number of PLC Shareholders who are present and vote (either in person or by proxy) at the PLC Court Meeting representing not less than 75% in value of the PLC Shares voted by such members; and the sanction of the UK Court 3 • 2 The UK Scheme would propose the following arrangement to PLC Shareholders to facilitate Simplification: 1. 2. All of the existing PLC Shares will be cancelled New PLC ordinary shares will be issued to New NV which will, as a result, become the holding company of PLC PLC Shareholders will receive one New NV Ordinary Share for every PLC Share held* 3. *The ownership structure of Unilever group companies would not change as a result of the UK Scheme * PLC Deferred Shares will be taken out as a preliminary step 11 Shar 1 PLC New NV New BV Sub

Dutch Merger - Implementation The Dutch Merger would be a Dutch statutory triangular legal merger of NV, New NV and New BV Sub Steps to enable Simplification 1.New NV and New BV Sub have been incorporated in 2017 2.NV Shareholders would be asked to vote in favour of the Dutch Merger, requiring a simple majority of votes cast if more than 50% of the issued share capital is represented. Otherwise a 2/3 majority is required New NV Shareholders (i.e. former PLC Shareholders) NV Shareholders 1 3 At Simplification 3.Triangular legal merger whereby: 2 1 3 i. ii. NV is merged into New BV Sub All of NV’s assets, liabilities, rights and obligations are assumed under universal succession of title by New BV Sub by operation of law* 4.In consideration, New NV will allot shares to the former NV Shareholders in accordance with the exchange ratio set out in the Dutch Merger Proposal *The ownership structure of the Unilever group companies would not change as a result of the Dutch Merger 12 NV Other Subs 4 New NV PLC New BV Sub Other Subs

Timetable – Three Key Phases The Simplification timetable breaks down into 3 key phases: Phase 2 – Court and Shareholder Approval Phase (expected Q3 2018) Phase 3 – Legal Completion (expected Q4 2018) Phase 1 - Regulatory Review Phase Publication of full shareholder documentation and convocation of EGMs Started with the initial announcement Minimum 6 week notice period for EGMs followed by 3 week period for court approval process 13

Corporate Governance of New NV • New NV would be a listed public limited liability company incorporated under Dutch law with a one-tier board • The New NV Board would comprise the same members as the Boards prior to Simplification • The governance of New NV would be included in the New NV articles of association and The Governance of Unilever • There would be no material difference to the governance of the Unilever Group following Simplification when compared to the governance of the Unilever Group prior to Simplification. New NV would continue to apply: - The Dutch Corporate Governance Code; and - The UK Corporate Governance Code • The New NV articles of association would mirror the current NV articles of association except that they would reflect the capital structure of New NV, and be updated and aligned with Dutch law and market practices • Unilever is not considering to introduce a protective foundation, as this would not be in line with the objective of Simplification to make the capital structure simpler and more transparent, and may negatively affect shareholders' views on Simplification 14

3. Employment aspects 15

Employment and employee representation Overview Impact of Simplification 14 •The employment of 3,100 people in the Netherlands and 7,300 people in the UK will not be affected •No Unilever offices will be closed as a result of Simplification •No material relocation of roles •No changes to rights of employee representation •Simplification will have no material effect on Unilever employees •Unilever is committed to maintaining an excellent relation with employee representatives

Share Plans 15 Impact of Simplification •There is no automatic vesting or lapse triggered on completion of Simplification under the principal share plans •Automatic exchange as the default option Overview •Unilever maintains five principal share plans: (i) the MCIP, (ii) the GSIP, (iii) the SHARES Plan, (iv) the North America Omnibus Equity Compensation Plan; and (v) the Unilever Share Plan •It is intended that all existing awards over NV Ordinary Shares or PLC Shares will be automatically exchanged for awards over New NV Shares following completion of Unification where possible •These exchanges will be effected using the same exchange ratios being used in the UK Scheme and the Dutch Merger and be on broadly equivalent terms as to rights of vesting and/or exercise and other substantive terms and conditions as the existing awards