KMB 4Q 2025 Earnings Presentation Slides (a1b2a6)

POWERING

CARE

Q4 2025 EARNINGS

January 27, 2026

POWERING CARE:

How We Create Durable Growth

ACCELERATE

Pioneering Innovation

WIRE

Our Organization for Growth

Powering Care

OPTIMIZE

Our Margin Structure

Powerhouse Categories & Brands

Science Is Our Competitive Advantage

Scalable Capabilities Led by Top Talent

ENHANCING FOCUS ON RIGHT-TO-WIN SPACES

Brazil Tissue

Mid-2023

Personal Protective Equipment Business

Mid-2024

North America Private Label

2022-2025

International Family Care & Professional JV

On target for Mid-2026

Sharpened focus on core personal care categories

Shifted portfolio towards faster growth, higher margin categories

Reduced exposure to volatile fiber costs

Lowered capital intensity

4

Acquiring Kenvue to Create a $32 Billion Pure-Play, Global Health & Wellness Leader

Building the future of consumer-centric care for all

GENERATIONAL OPPORTUNITY

Advancing Women's Health

Leading

Baby Care

10 $1B+

iconic brands

Powerful Next Step

Strong

Fit

Builds Scale

Builds on Kimberly Clark's Powering Care transformation

Exceptional complementarity across categories and critical markets

Opportunity to scale globally with

winning capabilities built for speed

~$2.1B Total anticipated EBITDA synergies1

Pioneering

Active Aging

Adj. EPS2

Accretive

to Kimberly-Clark by year 2

5

1Inclusive of approximately $1.9 billion in cost synergies and approximately $500 million in incremental profit from revenue synergies, partially offset by reinvestment of approximately $300 million

2Kimberly-Clark does not provide a reconciliation of this forward-looking non-GAAP financial measure to the most directly comparable GAAP financial measure on a forward-looking basis because it is unable to predict certain adjustment items without unreasonable effort.

OUR VALUE CREATION PARADIGM IS POWERED BY

OUR VIRTUOUS CYCLE

EXCELLENCE ON FUNDAMENTALS DRIVES OUR VIRTUOUS CYCLE

Deliver Top-tier Financial

Performance

Invest in Product

Differentiation

Grow

Volume + Mix

Reduce Costs & Enhance

Efficiency

V I R T U O U S

CYCLE

Invest in

Brand Love

Invest in

Customer Partnerships

6

INVEST IN PRODUCT DIFFERENTIATION

Category-Bending Performance with Proprietary Science-Based Innovation Across Key Markets in the Last 2 Years

Leak Free Confidence Garment Like Comfort Skin Health Overnight

North America

China

South Korea

Australia

Brazil

Indonesia

7

Building Brand Love &

Crushing Stigma Across Categories

INVEST IN BRAND LOVE

Feminine Care Baby & Child Care Adult Care

Kotex - Where there are girls, there should be sanitary pads

Huggies HugFit360

- Giannis Antetokounmpo

Goodnites Astronaut

- Scott Kelly

Depend

- Emmitt Smith

Poise Giggle Dribble

- Katherine Heigl

11 Cannes Wins in 2025, nearly 2x of wins in last 5 years

Consumer-Centric Innovation Driving Pivot to Durable Volume+Mix Led Organic Growth1

GROW VOLUME + MIX

5.5%

2.7%

2.6%

1.0%

-0.7%

-0.9%

-1.6%

7.7%

Volume + Mix Price

78%*

Innovation Contribution To FY25 Volume + Mix Led Growth

Organic

Growth1

FY22 FY23 FY24 FY25

+6.1% +4.8% +3.9% +1.7%

*Represents annual incremental net sales from innovation launches of last 3 years as a

percentage of volume mix led growth in FY25

1Non-GAAP financial measures. Refer to the appendix of this presentation for reconciliations of our GAAP to non-GAAP measures.

Stepping Up Gross Productivity Savings

Q4 Actuals FY25 Actuals

7.2%

of Adj COGS1

6.2%

of Adj COGS1

REDUCE COSTS & ENHANCE EFFICIENCY

Exceeded the targeted range of 5 - 6% Gross

Productivity Savings in 20252

Value Stream:

Design to Value initiatives including standardized product platforms and strong price negotiations unlocking value

Network Optimization:

Optimizing manufacturing and distribution footprint including external contract manufacturing among others

Value Stream

Network Optimization

Automation

Scalable Automation:

Unlocking efficiencies through automation

Gross Productivity includes Productivity generated from end-to-end Integrated Margin

Management and from Procurement initiatives

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1Non-GAAP financial measures. Refer to the appendix of this presentation for reconciliations of our GAAP to non-GAAP measures.

2 Kimberly-Clark does not provide a reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures on a forward-looking basis because it is unable to predict certain adjustment items without unreasonable effort.