Slide 1: Full Year Results 2025
FULL YEAR RESULTS 2025 5th March 2026
Slide 2: Disclaimer
FY 2025 RESULTS 2 DISCLAIMER Cautionary note concerning forward-looking statements This announcement contains statements with respect to the financial condition, to innovate and remain competitive; the Group’s investment choices in its portfolio results of operations and business of Reckitt Benckise
Slide 3: 2025 Highlights
3 2025 HIGHLIGHTS Kris Licht Chief Executive Officer
Slide 4: A Year of Financial Delivery
FY 2025 RESULTS 2025 HIGHLIGHTS 4 A YEAR OF FINANCIAL DELIVERY Adjusted Adjusted diluted Cash returns Net revenue operating profit1 earnings per share to shareholders +5.0% LFL +5.3% +1.1% DPS +5.0% 2025 Refer to adjusted measures presented within the FY 2025 Results announcement. 1. Growth vs prior
Slide 5: Non-Core Updates
FY 2025 RESULTS 2025 HIGHLIGHTS 5 NON-CORE UPDATES MEAD JOHNSON NUTRITION ESSENTIAL HOME Normalised trading in U.S. following 2024 tornado 31 Dec 2025 Divestment completed Continue to consider all strategic options for MJN c.£1.6bn Special dividend paid to shareholders in Feb 2026 30% Reckitt mainta
Slide 6: A Year of Strategic Delivery
FY 2025 RESULTS 2025 HIGHLIGHTS 6 A YEAR OF STRATEGIC DELIVERY 1 Focused portfolio 2 Product superiority: 3 Fuel for 4 Executing with driving value creation Innovation & Growth delivery excellence category creation
Slide 7: Execution Excellence: Building a World Class Supply Chain
FY 2025 RESULTS 2025 HIGHLIGHTS 7 EXECUTION EXCELLENCE BUILDING A WORLD CLASS SUPPLY CHAIN HISTORIC CURRENT COST FOCUSED SUPPLY CHAIN VALUE FOCUSED SUPPLY CHAIN Inconsistent Localised, resilient and delivery responsive supply chain Varied factory Smarter, data-driven, performance more efficient oper
Slide 8: Execution Excellence: Fundamentally Enhancing Our Capabilities
FY 2025 RESULTS 2025 HIGHLIGHTS 8 EXECUTION EXCELLENCE FUNDAMENTALLY ENHANCING OUR CAPABILITIES MANUFACTURING WIDER SUPPLY CHAIN China Localisation: New operating Enhanced capacity and North America model for supply warehouse innovation Self Care network Wilson, NC Mead Johnson Updating lines Digiti
Slide 9: Delivering Early Results
FY 2025 RESULTS 2025 HIGHLIGHTS 9 DELIVERING EARLY RESULTS INVESTMENTS: CAPEX (Mn GBP)1 CUSTOMER SERVICE LEVEL2 CORE RECKITT EUROPE & ANZ +13.6% CAGR +6.0ppts 2023 2024 2025 2024 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC OPERATIONAL EFFICIENCY3 CUSTOMER SERVICE LEVEL2 EMERGING MARKETS NORTH AM
Slide 10: 2025 Reflections: A World-Class Health and Hygiene Company
FY 2025 RESULTS 2025 HIGHLIGHTS 10 2025 REFLECTIONS A WORLD-CLASS HEALTH AND HYGIENE COMPANY A PORTFOLIO OF POWERBRANDS DRIVING VALUE CREATION
Slide 11: Financial Review
11 FINANCIAL REVIEW Shannon Eisenhardt Chief Financial Officer
Slide 12: Strong FY 2025 Performance
FY 2025 RESULTS FINANCIAL REVIEW 12 STRONG FY 2025 PERFORMANCE Core Reckitt Core Reckitt Core Reckitt LFL net revenue growth Gross profit margin Adjusted operating profit margin +5.2% 62.2% 26.7% Volume: +1.5% Flat +90bps Price / mix: +3.7% Group LFL net Group gross Group adjusted Group adjusted Gro
Slide 13: Volume Trends
FY 2025 RESULTS FINANCIAL REVIEW 13 VOLUME TRENDS EMERGING MARKETS EUROPE NORTH AMERICA CORE RECKITT +6.7% +5.8% +0.4% Flat (3.1)% (4.8)% Q4 25 FY 25 Q4 25 FY 25 Q4 25 FY 25 Q4 25 FY 25
Slide 14: Core Reckitt – Area Overview
FY 2025 RESULTS FINANCIAL REVIEW 14 CORE RECKITT – AREA OVERVIEW EMERGING MARKETS EUROPE NORTH AMERICA FY FY FY LFL NR growth Volume LFL NR growth Volume LFL NR growth Volume +14.6% NR: £4,291m +6.7% Price/mix +7.9% -1.4% NR: £3,384m -3.1% Price/mix +1.7% +0.2% NR: £2,559m 0.0% Price/mix +0.2% AOP m
Slide 15: Core Reckitt – Category Overview
FY 2025 RESULTS FINANCIAL REVIEW 15 CORE RECKITT – CATEGORY OVERVIEW SELF CARE GERM PROTECTION HOUSEHOLD CARE INTIMATE WELLNESS FY FY FY FY LFL NR growth +3.0% NR: £3,306m Volume -1.7% LFL NR growth +8.4% Volume +6.1% LFL NR growth -0.4% Volume -1.2% LFL NR growth +12.5% Volume +3.4% Price/mix Price
Slide 16: Non-Core Overview
FY 2025 RESULTS FINANCIAL REVIEW 16 NON-CORE OVERVIEW MEAD JOHNSON NUTRITION ESSENTIAL HOME FY FY LFL NR growth Volume LFL NR growth NR growth (actual FX) +3.8% NR: £2,119m -2.3% Price/mix +6.1% -6.3% NR: £1,852m -9.5% FX -3.2% AOP margin AOP margin growth AOP margin AOP margin growth 20.4% AOP: £43
Slide 17: Fuel for Growth Programme Delivering Ahead of Plan
FY 2025 RESULTS FINANCIAL REVIEW 17 FUEL FOR GROWTH PROGRAMME DELIVERING AHEAD OF PLAN Simplification Right size Automation & Digital & investment shared services generative AI Simplify our organisation for Refining scope and integrating Reduce cost and improve New opportunities for scale opportunit
Slide 18: Delivery to Date Drives End-2027 Target Improvement
FY 2025 RESULTS FINANCIAL REVIEW 18 DELIVERY TO DATE DRIVES END-2027 TARGET IMPROVEMENT JUL DEC DEC 2026 2027 END OF 2024 2024 2025 2027 Target IMPROVEMENT Target TOWARDS TARGET 19% Total fixed cost Fixed cost base FY 2024 20.9% FY 2025 19.4% Expected higher % of NR due to stranded costs and lower E
Slide 19: Multiple Benefits from Fuel for Growth
FY 2025 RESULTS FINANCIAL REVIEW 19 MULTIPLE BENEFITS FROM FUEL FOR GROWTH 2024 2025 FUEL FOR GROWTH IS DELIVERING 150bps Choiceful investments 120bps into brand equity 90bps1 Target Enhanced functional capabilities <19% Fixed cost base 30bps end of 2027 Savings: Fixed Costs Increased BEI Operating
Slide 20: Fixed Cost Savings Drive AOP Margin Expansion
FY 2025 RESULTS FINANCIAL REVIEW 20 FIXED COST SAVINGS DRIVE AOP MARGIN EXPANSION +150bps +10bps -120bps 24.9% 24.5% FY 2024 AOP margin Gross margin Fixed costs savings Marketing investment FY 2025 AOP margin Refer to adjusted measures presented within the FY 2025 Results announcement. AOP is adjust
Slide 21: Adjusted Diluted EPS – Underpinned by Growth in Operating Profit
FY 2025 RESULTS FINANCIAL REVIEW 21 ADJUSTED DILUTED EPS – UNDERPINNED BY GROWTH IN OPERATING PROFIT +20.5p +10.3p (14.5)p1 (12.5)p 349.0p 352.8p FY 2024 Net revenue and Tax and interest1 Share buyback FX FY 2025 profit growth Refer to adjusted measures presented within the FY 2025 Results announcem
Slide 22: Continued Strong Cash Returns to Shareholders
FY 2025 RESULTS FINANCIAL REVIEW 22 CONTINUED STRONG CASH RETURNS TO SHAREHOLDERS SHARE BUYBACK FREE CASH FLOW NET DEBT DIVIDEND c.£900m 71% 1.6x +5% 1 Share repurchases Free cash flow Net debt / Full year in 2025 conversion adjusted EBITDA dividend Refer to adjusted measures presented within the FY
Slide 23: Consistent Capital Allocation Policy
FY 2025 RESULTS FINANCIAL REVIEW 23 CONSISTENT CAPITAL ALLOCATION POLICY Investment in organic growth Progressive dividend policy A Target single-A credit rating (leverage around 2x) Manage the portfolio for value creation Return cash to shareholders We will return surplus cash to shareholders, incl
Slide 24: 2026 Guidance
FY 2025 RESULTS FINANCIAL REVIEW 24 2026 GUIDANCE LFL NET REVENUE GROWTH CORE RECKITT MEAD JOHNSON NUTRITION +LSD% ADJUSTED EPS ADJUSTED OPERATING PROFIT MARGIN Ambition to consistently deliver EPS growth over Fuel for Growth is expected to largely offset the stranded the medium-term, acknowledging
Slide 25: Confidence in Outlook
25 CONFIDENCE IN OUTLOOK Kris Licht Chief Executive Officer
Slide 26: Opportunities: More $25K+ Households Now in Emerging Markets
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 26 OPPORTUNITIES MORE $25K+ HOUSEHOLDS NOW IN EMERGING MARKETS 1 245m 2004 98m $25K+ $25K+ households households NORTH AMERICA + EUROPE EMERGING MARKETS 26 1. Euromonitor, disposable income (constant). Europe is EU only. Emerging Markets data based on 40 Reckitt
Slide 27: Opportunities: More $25K+ Households Now in Emerging Markets
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 27 OPPORTUNITIES MORE $25K+ HOUSEHOLDS NOW IN EMERGING MARKETS 1 268m 198m 2014 $25K+ $25K+ households households NORTH AMERICA + EUROPE EMERGING MARKETS 1. Euromonitor, disposable income (constant). Europe is EU only. Emerging Markets data based on 40 Reckitt o
Slide 28: Opportunities: More $25K+ Households Now in Emerging Markets
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 28 OPPORTUNITIES MORE $25K+ HOUSEHOLDS NOW IN EMERGING MARKETS 1 304m 2024 316m PREMIUMISATION PENETRATION CATEGORY CATEGORY EXPANSION CREATION $25K+ $25K+ households households NORTH AMERICA + EUROPE EMERGING MARKETS 1. Euromonitor, disposable income (constant)
Slide 29: Emerging Markets Driving Very Strong Growth
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 29 EMERGING MARKETS DRIVING VERY STRONG GROWTH NET REVENUE PROFILE PRIORITIES £4.3bn NET REVENUE 42% of Core Reckitt Continuing penetration in mature categories net revenue Developing nascent categories TOP MARKETS MARKET LEADING BRANDS1 #1 #1 #1 #1 #1 Scaling u
Slide 30: Europe Staying Competitive, Driving Premiumisation
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 30 EUROPE STAYING COMPETITIVE, DRIVING PREMIUMISATION NET REVENUE PROFILE PRIORITIES £3.4bn NET REVENUE 33% of Core Reckitt Trading up and premiumisation net revenue Category expansion through innovation TOP MARKETS MARKET LEADING BRANDS1 #1 #1 #1 #1 #1 Ensuring
Slide 31: North America Expanding Iconic Powerbrands
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 31 NORTH AMERICA EXPANDING ICONIC POWERBRANDS NET REVENUE PROFILE PRIORITIES £2.6bn NET REVENUE 25% of Core Reckitt Expand premium categories net revenue Customer centric growth TOP MARKETS MARKET LEADING BRANDS1 #1 #2 #2 Consistent US Canada operational excelle
Slide 32: Superior Innovation: Attractive Seasonal OTC Portfolio
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 32 SUPERIOR INNOVATION ATTRACTIVE SEASONAL OTC PORTFOLIO UPPER RESPIRATORY #1 c.£24bn +c.5% #2 Category size1 2019–25 CAGR2 SEASONAL FLUCTUATIONS, LONG-TERM EARNINGS DRIVER 2019–25 CAGR4 Strong economics: Strength MACRO Seasonal OTC is Mucinex two of our driven
Slide 33: Mucinex: A Long History of Superior Solutions
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 33 MUCINEX A LONG HISTORY OF SUPERIOR SOLUTIONS Cough & Congestion Cold & Flu Day Cold & Flu Night Cough Drops Paediatric Cough 2004 2011 2019 2022 2024 The FIRST FDA-approved The FIRST brand totally The FIRST with Triprolidine The FIRST 4hr The FIRST children’s
Slide 34: Superior Innovation: Leading in Medical Science
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 34 SUPERIOR INNOVATION LEADING IN MEDICAL SCIENCE 2026 The FIRST AND ONLY 12 hour, multi-symptom cold & fever remedy
Slide 35: 12 Hour Cold & Fever
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 35 \ SUPERIOR INNOVATION LEADING IN MEDICAL SCIENCE 12hour COLD & FEVER A BREAKTHROUGH INNOVATION IN THE $2.5BN US COLD & FLU CATEGORY 1 The first & only 12hr cold >15 years of development, & flu medicine with testing and clinical trials powerful relief from 7 s
Slide 36: Superior Innovation: Recent Launches
FY 2025 RESULTS CONFIDENCE IN OUTLOOK 36 SUPERIOR INNOVATION RECENT LAUNCHES
Slide 37: Reckitt Focus On: Digital Science and North America
RECKITT FOCUS ON: RECKITT FOCUS ON: DIGITAL NORTH SCIENCE AMERICA Date: 14 May 2026 Bastien Parizot Angela Naef Nigel Richardson Date: 19 November 2026 Jérôme Lemaire Location: Virtual SVP GBS & AI Enterprise Chief R&D Officer Chief Information & Location: New Jersey President North America Digitisa
Slide 38: Confidence to Deliver Medium-Term Ambition
FY 2025 RESULTS CONFIDENCE TO DELIVER 38 CONFIDENCE TO DELIVER MEDIUM-TERM AMBITION CORE RECKITT EARNINGS LFL net revenue growth Deliver long-term, sustainable EPS growth Emerging Markets at and value creation high-single-digit % for shareholders
Slide 39: Reckitt Today
FY 2025 RESULTS CONFIDENCE TO DELIVER 39 RECKITT TODAY A WORLD-CLASS HEALTH AND HYGIENE COMPANY A PORTFOLIO OF POWERBRANDS DRIVING VALUE CREATION