Slide 1: Three-month sales 2026
Three-month sales 2026 Investor & analyst presentation
Slide 2: Disclaimer
Disclaimer This presentation contains forward looking statements which reflect Management’s current views and estimates. The forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements.
Slide 3: Agenda
Agenda Overview Three-month Sales Q&A Philipp Navratil, CEO Anna Manz, CFO Philipp Navratil, CEO Anna Manz, CFO 3 April 23, 2026 Three-month sales 2026
Slide 4: Overview
Overview Philipp Navratil, CEO 4 April 23, 2026 Three-month sales 2026
Slide 5: Q1-26 key messages
Q1-26 key messages 3.5% Growth momentum in Q1 Organic growth • Positive RIG across all Zones and categories, except for infant formula within Nutrition • Growth led by Coffee and Food & Snacks • Emerging markets performance continued to stand out 1.2% Infant formula recall and replenishment with rap
Slide 6: Strategic priorities for 2026 and beyond
Strategic priorities for 2026 and beyond 1 Winning portfolio 2 RIG-led growth 3 Transformation and efficiency 4 Cash and capital allocation 5 Performance culture 6 April 23, 2026 Three-month sales 2026
Slide 7: Three-month sales 2026
Three-month sales 2026 Anna Manz, CFO 7 April 23, 2026 Three-month sales 2026
Slide 8: Q1-26 organic sales growth offset by FX
Q1-26 organic sales growth offset by FX OG +3.5% +2.3% +0.1% -9.3% +1.2% 22.6 21.3 Reported sales growth -5.7% 3M-25 Sales RIG Pricing Net M&A Foreign 3M-26 Sales CHF bn exchange CHF bn 8 April 23, 2026 Three-month sales 2026
Slide 9: RIG momentum maintained in Q1-26
RIG momentum maintained in Q1-26 Quarterly performance, % Q1-26 RIG, % 4.3 4.0 3.5 3.0 2.8 3.5 1.7 2.1 1.5 1.3 1.2 1.2 0.7 -0.4 -3.5 Food & Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Group Coffee Petcare Nutrition Snacks OG RIG Pricing 9 April 23, 2026 Three-month sales 2026
Slide 10: Q1-26 product category performance overview
Q1-26 product category performance overview Coffee Petcare Nutrition Food & Snacks Organic growth 9.3% 2.7% -3.9% 4.2% Real internal growth 3.5% 1.7% -3.5% 2.1% Pricing 5.7% 1.0% -0.4% 2.0% Organic growth X X by quarter 9.1% 9.3% 6.8% 5.3% 2.1% 4.8% 4.2% 4.5% 4.2% 0.5% 0.3% 3.9% 4.0% 2.7% 2.7% -0.2%
Slide 11: Strong growth in emerging markets
Strong growth in emerging markets Group Developed Emerging Emerging Q1-26 sales, % markets markets markets — ex. China 5 6.8 38 57 4.6 3.9 3.5 2.8 3.4 2.3 1.6 2.9 Developed markets (57%) 1.2 1.2 1.2 Emerging markets excluding China (38%) China (5%) RIG Pricing 11 April 23, 2026 Three-month sales 202
Slide 12: Q1-26 Zone performance overview
Q1-26 Zone performance overview Zone AMS Zone AOA Zone EUR Organic growth 3.8% 2.4% 3.9% Real internal growth 1.2% 1.1% 1.1% Pricing 2.6% 1.3% 2.8% Organic growth X by quarter 6.0% 4.7% 4.6% 4.3% 3.8% 3.9% 3.5% 3.3% 3.4% 3.2% 2.4% 2.6% 2.2% 2.0% 1.8% Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 2025
Slide 13: Q1-26 GMB performance overview
Q1-26 GMB performance overview Nespresso Nestlé Waters & Premium Beverages Organic growth 5.1% 3.3% Real internal growth 2.0% 0.9% Pricing 3.1% 2.4% Organic growth by quarter 8.5% 8.3% 5.7% 5.8% 5.6% 5.1% 4.2% 3.6% 3.8% 3.3% Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 2025 2026 13 April 23, 2026 Three-month sales
Slide 14: Update on infant formula
Update on infant formula Infant formula recall and replenishment with rapid actions • Product availability back to normal 90bps impact on Group OG in Q1-26 • c.50% due to sales returns, stock shortages and subsequent replenishment • c.50% driven by the impact on consumer demand Consumer impact begin
Slide 15: Guidance maintained
Guidance maintained 2026 Medium-term Organic Range from around 3% up to 4% 4% + growth RIG accelerating versus 2025 in normal market conditions UTOP Improving vs 2025 17.0%+ margin Strengthening in H2 Free Above CHF 9 bn cash flow 15 April 23, 2026 Three-month sales 2026
Slide 16: Q&A
Q&A Philipp Navratil, CEO Anna Manz, CFO 16 April 23, 2026 Three-month sales 2026
Slide 17: Appendix
Appendix 17 April 23, 2026 Three-month sales 2026
Slide 18: 3M-2026 growth across developed and emerging markets
3M-2026 growth across developed and emerging markets Developed Emerging Sales (in CHF) 12.2 bn 9.1 bn % of Group sales 57% 43% RIG 1.2% 1.2% Pricing 1.6% 3.4% OG 2.8% 4.6% 18 April 23, 2026 Three-month sales 2026
Slide 19: Q1-2026 Historical eight quarters
Q1-2026 Historical eight quarters Period RIG % Pricing % OG % Q2-2024 2.2 0.6 2.8 Q3-2024 1.3 0.6 1.9 Q4-2024 1.5 1.2 2.7 Q1-2025 0.7 2.1 2.8 Q2-2025 -0.4 3.3 3.0 Q3-2025 1.5 2.8 4.3 Q4-2025 1.3 2.8 4.0 Q1-2026 1.2 2.3 3.5 19 April 23, 2026 Three-month sales 2026
Slide 20: Q1-2026 Operating segments – topline summary
Q1-2026 Operating segments – topline summary Q1-2026 sales Sales RIG Pricing OG (CHF m) % % % Zone AMS 9 106 1.2 2.6 3.8 Zone AOA 5 216 1.1 1.3 2.4 Zone EUR 4 615 1.1 2.8 3.9 Nespresso 1 555 2.0 3.1 5.1 Nestlé Waters & Premium Beverages 758 0.9 2.4 3.3 Other Businesses 67 2.6 -0.7 1.8 Total Group 21
Slide 21: Q1-2026 Operating segments including AMS & AOA breakdown
Q1-2026 Operating segments including AMS & AOA breakdown 2026 Performance Q1-26 RIG Pricing OG % % % Zone AMS 1.2 2.6 3.8 North America 0.2 1.3 1.5 Latin America 3.6 5.5 9.1 Zone AOA 1.1 1.3 2.4 AOA excluding Greater China 4.6 1.8 6.4 Greater China -10.4 -0.2 -10.6 Zone EUR 1.1 2.8 3.9 Nespresso 2.0
Slide 22: Q1-2026 Products categories – topline summary
Q1-2026 Products categories – topline summary Q1-2026 sales Sales RIG Pricing OG (CHF m) % % % Coffee 6 002 3.5 5.7 9.3 Petcare 4 395 1.7 1.0 2.7 Nutrition 3 984 -3.5 -0.4 -3.9 Food & Snacks 6 178 2.1 2.0 4.2 Waters & Premium Beverages 758 0.9 2.4 3.3 Total Group 21 317 1.2 2.3 3.5 Note: Waters incl
Slide 23: 3M-2026 currency overview
3M-2026 currency overview Average rate Variation 3M-2025 3M-2026 (%) US Dollar 1 USD 0.899 0.783 -12.9% Euro 1 EUR 0.946 0.917 -3.1% Chinese Yuan Renminbi 100 CNY 12.359 11.310 -8.5% Brazilian Real 100 BRL 15.368 14.890 -3.1% UK Pound Sterling 1 GBP 1.132 1.056 -6.7% Philippine Peso 100 PHP 1.551 1.
Slide 24: Abbreviations
Abbreviations AMS Americas AOA Asia, Oceania and Africa EUR Europe GC Greater China GMB Globally managed business OG Organic growth OOH Out-of-home RIG Real internal growth UEPS Underlying Earnings Per Share UTOP Underlying Trading Operating Profit VMS Vitamins, minerals and supplements 24 April 23,