Unilever Plc · LSE:ULVR
Unilever — Merger or Acquisition (April 2026)
29 slides from Unilever's merger presentation, Apr 1, 2026
Slide 1: Disclosures: Cautionary Statement Regarding Forward Looking Statements
2 2 GLOBAL TOWN HALL – APRIL 1, 2026 Disclosures McCormick Cautionary Statement Regarding Forward Looking Statements Certain information contained in this document that are not statements of historical or current fact constitute “forward - looking statements” within the meaning of Section 21E of the
Slide 2: Our Global Town Hall Agenda
Our Global Town Hall Agenda ▪ Welcome & Opening Remarks ▪ Business Update ▪ Employee Q&A ▪ Resources ▪ Closing Remarks
Slide 3: Our Global Town Hall Agenda
Our Global Town Hall Agenda + Welcome & Opening Remarks + Business Update + Employee asa + Resources + ClosingRemarks
Slide 4: Business Update
Business Update
Slide 5: Creating a Preeminent Global Flavor Company
6 6 GLOBAL TOWN HALL – APRIL 1, 2026 Highly complementary businesses, strong strategic fit Robust return profile Clear realizable cost synergies Iconic brands in attractive, advantaged categories Multiple levers for growth acceleration Combines complementary, strategically and culturally aligned bus
Slide 6: Unilever Foods: $12B FY25 Sales
7 7 GLOBAL TOWN HALL – APRIL 1, 2026 Sources: Company information. Unilever Foods' sales and other metrics are based on management estimates. Notes: Unilever Foods’ sales and other metrics are based on management estimates. 1. Represents Unilever Foods’ net sales for the fiscal year ended December 3
Slide 7: Combined company scale and categories
8 GLOBAL TOWN HALL – APRIL 1, 2026 Sources: Euromonitor, 2025; Circana Scan Panel, L52 Weeks Ending 11/30/25; Berenberg Notes: Unilever Foods' sales and other metrics are based on management estimates. 1. Combined sales figure represents McCormick’s net sales for the fiscal year ended November 30, 2
Slide 8: New Opportunities for Growth
9 9 GLOBAL TOWN HALL – APRIL 1, 2026 New Opportunities for Growth North American flavor focus Front - of - house foodservice expertise Flavor R&D capabilities Distribution in high - growth emerging markets Back - of - house foodservice expertise Chef - to - chef culinary capabilities Unlocking full
Slide 9: First Quarter Performance
10 10 GLOBAL TOWN HALL – APRIL 1, 2026 First Quarter Performance Top and bottom line benefitted from McCormick de Mexico performance Organic sales growth of 1% was driven by pricing with volumes in line with plan Profitability reflects acquisition accretion and inflation mitigation strategies Remain
Slide 10: 2026 Outlook
11 11 GLOBAL TOWN HALL – APRIL 1, 2026 15% to 19% ADJUSTED OPERATING INCOME 1% to 3% NET SALES In constant currency In constant currency ADJUSTED EARNINGS PER SHARE $3.05 to $3.13 Organic sales, defined as the impact of volume/mix and price and excludes the impact of acquisitions or divestitures, as
Slide 11: Business as Usual
12 12 GLOBAL TOWN HALL – APRIL 1, 2026 Today is just the first step. No changes to day - to - day operations. Continue to focus on our strategic priorities. Committed to keeping you informed. Business as Usual
Slide 12: Our Purpose, Vision and Strategic Priorities
13 13 GLOBAL TOWN HALL – APRIL 1, 2026 Our Purpose WHY WE EXIST To Make Life More Flavorful Strengthen leadership & global brand reach in our core categories Strengthen our competitive edge in innovation Accelerate our digital transformation Develop a future - ready workforce Reinforce our operation
Slide 13: Our Purpose, Vision and Strategic Priorities
hk McCORMICK | P | To Be the World’s, OurPupose | To Make Life OurVision ence | More Flavorful ‘eater one | Most Trusted | | Source of Flavor Strategic Priorities A Peinorce cur Deaton ‘peat! retin our
Slide 14: Top Questions: What does this mean for me?
15 15 GLOBAL TOWN HALL – APRIL 1, 2026 What does this mean for me? Will there be layoffs? Top Questions
Slide 15: Top Questions: What happens to my shares?
16 16 GLOBAL TOWN HALL – APRIL 1, 2026 16 As a shareholder, what will happen to my current shares of McCormick upon the closing of this proposed transaction? Top Questions
Slide 16: Top Questions: Closing timing and day-to-day impact
17 17 GLOBAL TOWN HALL – APRIL 1, 2026 17 When is the proposed transaction expected to close? How will this announcement impact the day - to - day McCormick business activities in the meantime? Top Questions
Slide 17: Top Questions: Deal structure and Reverse Morris Trust
18 18 GLOBAL TOWN HALL – APRIL 1, 2026 18 Can you tell us more about the structure of the deal agreed with Unilever. Why is a Reverse Morris trust model being used and why will Unilever have a majority shareholding when the deal closes? Top Questions
Slide 18: Top Questions: Brands included in the transaction
19 19 GLOBAL TOWN HALL – APRIL 1, 2026 19 Are all Unilever's foods brands included in the transaction, e.g., Marmite, Colman's, Pot Noodle? Top Questions
Slide 19: Top Questions: Integrating our two cultures
20 20 GLOBAL TOWN HALL – APRIL 1, 2026 20 How are we going to integrate our two cultures? Top Questions
Slide 20: Top Questions
Top Questions Howare we goingto integrate our two cultures?
Slide 21: Resources
22 22 GLOBAL TOWN HALL – APRIL 1, 2026 22 • For any additional questions, please reach out to your leaders • If you receive inquiries from media or other stakeholders, please direct them to our Communications and Investor Relations teams • Communications: corporate_communications@mccormick.com • Inv
Slide 22: Resources
Resources + Foranyadditional questions, please reach outto yourleaders + Ifyou receive inquiries from media or other stakeholders, please direct them to our Communications and Investor Relations teams. + Communications: corporate communications@mecomick.com + Investor Relations: aten freiha@mecomick
Slide 23: Thank You For Joining Us Today!
Thank You For Joining Us Today!
Slide 24: Thank You For Joining Us Today!
Thank You For Joining Us Today!
Slide 25: Non-GAAP Financial Measures
26 26 GLOBAL TOWN HALL – APRIL 1, 2026 Non - GAAP Financial Measures The following tables include financial measures of organic net sales, adjusted gross profit, adjusted gross profit margin, ad jus ted operating income, adjusted operating income margin, adjusted income tax expense, adjusted income
Slide 26: Non-GAAP Financial Measures
27 27 GLOBAL TOWN HALL – APRIL 1, 2026 Non - GAAP Financial Measures 1. Gross profit margin, impact of special charges, and adjusted gross profit margin are calculated as gross profit, impact of special charges, and adjusted gross profit as a percentage of net sales for each period presented. The im
Slide 27: Non-GAAP Financial Measures
28 28 GLOBAL TOWN HALL – APRIL 1, 2026 Non - GAAP Financial Measures Because we are a multi - national company, we are subject to variability of our reported U.S. dollar results due to changes in for eign currency exchange rates. Those changes can be volatile. The exclusion of the effects of foreign
Slide 28: Non-GAAP Financial Measures
29 29 GLOBAL TOWN HALL – APRIL 1, 2026 Non - GAAP Financial Measures To present the percentage change in projected 2026 net sales, adjusted operating income, and adjusted earnings per share (dil ute d) on a constant currency basis, the projected local currency net sales, adjusted operating income, a
Slide 29: Non-GAAP Financial Measures
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