Danone Sa · EURONEXT:BN
Danone Sa — Investor Day (November 2015)
29 slides from Danone Sa's investor day presentation, Nov 16, 2015
Slide 1: Transformation in Motion
TRANSFORMATION IN MOTION Emmanuel FABER
Slide 2: 2014 Europe
38% 40% ALMA 2014 Europe CIS/Noram 22%
Slide 3: Towards 2020 timeline
2014 2015 September 2014 July 2015 New governance Manifesto roll-out December 2014 TOWARDS October 2015 New Comex team Streams activation
Slide 4: Transformation in Motion – Investor Seminar 2015
Evian L015 4 Mar. Ci y, INVESTOR SEMINAR FAO pe TRANSFOR Un Notion ” 7 ©) INVESTOR SEMINAR 2015 - EVIAN DANONE
Slide 5: Our 2020 ambition: strong, profitable, sustainable growth
m@ OUR 2020 AMBITION: STRONG, PROFITABLE, SUSTAINABLE GROWTH » STRONG 2), PROFITABLE 17 _SUSTAINABLE GROWTH
Slide 6: Bringing health through food to as many people as possible
La © BRINGING HEALTH ae alll, * THROUGH FOOD TO AS P Ve : > MANY PEOPLE AS POSSIBLE | o ~ DAN SNE AN RNES DANSNEQ OOO INVESTOR SEMINAR 2015 - EVIAN DANONE ©)
Slide 7: Bringing health through food to as many people as possible
5 BRINGING HEALTH * THROUGH FOOD TO AS MANY PEOPLE AS POSSIBLE ao — N DANONE 2020* ©) INVESTOR SEMINAR 2015 - EVIAN DANONE
Slide 8: Danone: a unique mission
m DANONE: A UNIQUE MISSION NVESTOR SEMINAR 2015 - EVIAN DANONE
Slide 9: All together behind the Manifesto vision
m ALL TOGETHER BEHIND THE MANIFESTO VISION NONE 2014 Investor Seminar 2014 Annual GMs Meeting Danone Day Manifesto Workshops Danone 2020 introduction Comex together around sharing with 60,000 Danoners clusters co-creating their actions the Manifesto vision 22015 - EVIAN DANONE
Slide 10: Lig
Lo. Lig MS 0 o oo DANONE
Slide 11: Demographics and health trends to create new growth opportunities
@ DEMOGRAPHICS AND HEALTH TRENDS TO CREATE NEW GROWTH OPPORTUNITIES A growing population J Balanced diet: a major worldwide challenge J ah RT Malnutrition : 1/4 of the population @ Overweight : 1/3 of adults Obesity : 1/10 of adults ~ : © DANONE
Slide 12: Business and regional breakdown
No. 2 worldwide 7% No. 1 in Europe Early life Nutrition 21% Medical Nutrition 20% 52% No. 2 worldwide Waters No. 1 worldwide Fresh Dairy Products EUROPE NORAM ALMA 40% CIS 28% 22% Figures based on FY 2014 results USA+Canada+CIS AsiapacLatamMiddleEastAfrica
Slide 13: Yogurt retail volume worldwide growth
Yogurt retail volume worldwide growth (tonnes) Source: Euromonitor Source: Epidemiology studies on yogurt covenring 170,000 people
Slide 14: Fresh dairy products: an unparalleled position to build the future
@™ FRESH DAIRY PRODUCTS: AN UNPARALLELED POSITION TO BUILD THE FUTURE Danone World Market Share in 2014 = 26% Competitors #2 & #3 =5% 84% of Danone Sales from countries where we are #1 (vs. 78% in 2011) © NVESTOR SEMINAR 20 EVIAN DANONE
Slide 15: Waters: an extended territory of growth
WATERS: AN EXTENDED TERRITORY OF GROWTH eae 2000-2015 > eae ‘% Source: Canadean, Total Water format including Bottled Water (A101) + Jugs/HOD Water (>101) BE MORE DISTRIBUTED. IN PROXIMITY STORES i NABs i in 2020 REMORE aie BE MORE INNOVATIVE BE MORE INTERACTIVE BE HEALTHIER NVESTOR SEMINAR 20 DANON
Slide 16: Water category growth by segment
> +10% 11% 45% > +5% 38% Carbonates Juice Packaged Water Others > +20% 6% ≈3% Plain still Plain sparkling Aquadrinks HOD
Slide 17: Early life nutrition: demographic patterns and health trends create new need
® EARLY LIFE NUTRITION: DEMOGRAPHIC PATTERNS AND HEALTH TRENDS CREATE NEW NEED Middle class emergence & gender equality Health issues growing for babies Middle-class growth Billion people 2000 2010 2020 INVESTOR SEMINAR 2015 - EVIAN Nd Preterm/LBW oo & Constipation 2 a Allergy risk ; 0% 10% 20% 30%
Slide 18: Early life nutrition: science and strong brands to support 1,000 days
@ EARLY LIFE NUTRITION: SCIENCE AND STRONG BRANDS TO SUPPORT 1,000 DAYS WHO TARGETS A unique and relevant portfolio y A key focus on R&D and scientific expertise Leveraging a new global research centre in Utrecht Milk Tailored Nutrition Wet & Dry Food NVESTOR SEMINAR 2015 - EVIAN DANONE
Slide 19: Over 65s as percent of total population
Over 65s as percent of total population World average Source: US Census Bureau; Kalorama Information 0 5 10 15 20 25 30
Slide 20: Medical nutrition: unique and broad portfolio across the lifespan
ms MEDICAL NUTRITION: UNIQUE AND BROAD PORTFOLIO PROVIDING BENEFITS ACROSS THE LIFESPAN e w= ae wee —— f ( Paediatric) care ( Enhanced) Recovery Metabolic Control STRONG LEADER IN >} WESTERN EUROPE Wiss BRAND LOYALTY THROUGH COMMUNITY MANAGEMENT \ ces \
Slide 21: Africa: our new frontier
AFRICA: OUR NEW FRONTIER By 2035,Africa will have a larger working age population than China wp 1 in 4 of the worlds children is born in “ Z 1.2 birth every 5 second in Africa, for a 40% of Africans are under 15 birthrate of 35.4 per Twice as many mobiles as the US 15 of the fastest growing and the
Slide 22: Africa: meet specific needs and develop new sources of growth
im AFRICA: MEET SPECIFIC NEEDS AND DEVELOP NEW @ SOURCES OF GROWTH Presence in more Nourish a healthy y than 40 countries Abdi pioanone x6 soe [DANONE } 4a * Capture new opportunities eS * Strong brands & new technologies to support atta) * Local sourcing and production an 2008 2014 VINAR 20 EVIAN D
Slide 23: Danone 2020
(o-- Mt, neg Hor ac, DANONE | 2020* ww Oo INVESTOR SEMINAR 2015 - EVIAN DANONE
Slide 24: Streams that ensure Danone's relevance
- DANONE 202Z0* There are 3 streams that will ensure Danone’s relevance to the challenges of our time : i ) | ALIMENTATION = ALIMENTATION ESSENTIALS = COMMUNITY ENGAGEMENT BEINENIADON beyond selling food and beverage products " MANIFESTO IN ACTION INCUBATORS = DANONE CITY UNITS - ‘ee. Foop & WATER C
Slide 25: Alimentation: nurture growth through new opportunities
m ALIMENTATION: NURTURE GROWTH THROUGH NEW OPPORTUNITIES IMPACTING EATING x DRINKING PRACTICES lM ©) NVESTOR SEMINAR 20 EVIAN TOA MANY PEOPLE AS PoSiBLE DANONE
Slide 26: Alimentation: nurture growth through new opportunities
mm ALIMENTATION: NURTURE GROWTH THROUGH NEW OPPORTUNITIES " Foster breakthrough organic growth through innovative solutions " Deploy disruptive businesses MANIFESTO/NACTION INCUBATOR min 7 " Develop new ways of working in innovation # Attract talents in the field ©) INVESTOR SEMINAR 2015 - EVIAN DAN
Slide 27: Food & water cycle: protect and valorize our essential resources
m FOOD & WATER CYCLE: PROTECT AND VALORIZE OUR ESSENTIAL RESOURCES COST SAVINGS NATURE * Sourcing *Climate * Efficiency °Water *Partnerships * Agriculture *Packaging TOPLINE GROWTH = INCLUSIVENESS ° Farmer resilience * Access to safe drinking water *Job strengthening °Women empowerment *Consumer pre
Slide 28: People and organization
Fuel the growth with local More efficiency New mindset & process to talents More focus on business animate the performance Develop adaptative Leaders and activation Short & long-term value with evolving capabilities Scale and transversality creation reconciliation Agility and anticip
Slide 29: Sustainable value creation
m SUSTAINABLE VALUE CREATION @. BRINGING HEALTH |. THROUGH FOOD TO AS a an 7 MANY PEOPLE AS POSSIBLE i ao , . ~ DAN’ SNE INVESTOR SEMINAR 2015 - EVIAN