Quarter 5 - financial statement for 2025

Unilever Nigeria is a purpose-led company that brings together talented individuals, respected brands, and longstanding traditions to meet the needs of individuals and families in Nigeria and beyond. The company proactively identifies the aspirations of its consumers and customers, offering innovative and competitive branded products and services, fulfilling its purpose to Brighten Everyday Life for All. In addition, Unilever Nigeria Plc is deeply committed to making a positive impact in the communities where it operates- supporting localisation, empowering women, promoting sustainability, and driving social initiatives that enhance the wellbeing of people and the environment.

Unilever Nigeria operates as a part of Unilever Plc, a globally recognised leader in consumer goods. The company's portfolio includes foods, beauty & wellbeing, and personal care brands that are used by 3.4 billion people daily across more than 190 countries.

Unilever Nigeria Plc was established in 1923 as a soap manufacturing company - Lever Brothers West Africa. Today, it is the longest serving manufacturing organization in Nigeria. Unilever Nigerian commemorated its centenary milestone in 2023. The Company has been listed on the Nigerian Stock Exchange since 1973.

For generations, Unilever Nigeria has been a part of Nigerian households with a portfolio of iconic brands: Knorr, Closeup, Pepsodent, Vaseline, Rexona, Royco and Pears-that have become woven into the fabric of the nation's story. Our continued presence and commitment ensure these trusted brands remain an essential part of everyday life in Nigeria.

Unilever remains firmly committed to Nigeria's economic growth, having significantly contributed to the country's socio-economic progress in key areas over the years:

• Employment generation & skills development- in partnership with UNICEF Generation Unlimited, over 900,000 students engaged through online entrepreneurial workplace skills and offline career upskilling seminars across universities and polytechnics.

• Building local capacity for regional export- more than 60% of raw materials are sourced locally, with over 10,000 households impacted through smallholder farmers.

• Empowered over 13000 Shakti women (an initiative that empowers women by training them as micro-entrepreneurs to sell our products, boost their income and expand their community's access to essential products) in 22 states including the FCT. Furthermore, our total PWD Shakti network now exceeds 600 women.

• Protecting the environment- over 15000 tonnes of plastic collected and over 300 jobs supported.

Unilever Nigeria Plc remains committed to Nigeria and aims to continue to add value not only through continued investments in local manufacturing and localisation, but also through various social projects specifically aligned to the Sustainable Development Goals (SDGs) on improving livelihoods and the environment. As the company reflects on its proud history of over a century in Nigeria-shaping local industries, empowering communities, and nurturing iconic brands-Unilever Nigeria Plc is inspired to deepen its impact even further. With unwavering determination, the company looks forward to building a brighter future together, driving sustainable growth, and uplifting the lives of generations to come.

Directors

Company Secretary Mr. Peter Dada Registered Office

1 Billings Way Oregun Ikeja, Lagos

Tel: +234 1 279 3000 & +234 803 906 6000

Email: Consumercare.nigeria@unilever.com Website: https://www.unilevernigeria.com

Company Registration Number

RC 113

Tax Identification Number (TIN)

01056346-0001

Independent Auditor

Forvis Mazars

18 Oba Akran Avenue, Ikeja,

Lagos.

Registrar and Transfer Office

Greenwich Registrars and Data Solutions Ltd. 274, Murtala Muhammed Way

Alagomeji, Yaba, Lagos

Tel: +234 01 279 3161- 2 & +234 01 813 1925

info@gtlregistrars.com

Bankers

Access Bank Plc

Citi Bank Nigeria Limited Ecobank Nigeria

First Bank of Nigeria Plc First City Monument Bank Globus Bank Limited Stanbic IBTC Bank Limited

Standard Chartered Bank Nigeria Limited Sterling Bank Limited

United Bank for Africa Limited Zenith Bank Plc

Revenue Operating profit

Profit before taxation

Income tax expense (19,527,916) (7,506,399)

Profit for the year 32,198,916 15,143,154

Other comprehensive profit/(loss), net of tax 204,874 (237,423)

Total comprehensive income 32,403,790 14,905,731

Total equity 107,456,111 85,106,080

Depreciation and impairment of property, plant and equipment 3,061,078 2,754,719

250

200

Revenue (N'B)

214.3

149.5

103.9

70.5

68.6

150

100

50

Naira (N'B)

2021 2022 2023 2024 2025

Years

Naira

6.00

3.00

EPS (N)

5.60

2.64

1.47

0.59

0.78

0.00

2021

2022

2023

2024

2025

Years

PAT (N'B)

40

32.2

30

Naira (N'B)

20

10

4.5

8.4

15.1

0 3.4

2021 2022 2023 2024 2025

MR. BOLAJI BALOGUN - INDEPENDENT NON-EXECUTIVE DIRECTOR/ CHAIRMAN

Mr. Bolaji Balogun is the Founder and Chief Executive Officer of Chapel Hill Denham and Chief Investment Officer of the Nigeria Infrastructure Debt Fund. He is a leading advocate for aggregating institutional capital to accelerate Nigeria's economic growth. He has over 35 years of experience in investment banking, asset management,and mobile telecommunications.

Chapel Hill Denham, which he founded in April 2005, is Nigeria's leading investment bank, as well as its leading alternative investments manager and impact investor, focused on areas accretive to Nigeria and Africa's sustainable development with funds in Infrastructure, Renewables, Real Estate, Gender, Venture and Creative Economy.

Prior to founding Chapel Hill Denham, Mr. Balogun spent over a decade with FCMB Group, in investment banking and securities trading, leaving in January 2001 to be a co-founder and Director of Econet Wireless Nigeria, now Airtel Nigeria. Econet Wireless was Nigeria's first mobile network to launch commercial service. He led the capital raising and license bid auction for Econet Wireless Nigeria's USD285 million GSM license. The US $1.67 billion sale of Econet Wireless to Celtel in 2005, remains Nigeria's single largest successfully exited private investment.

Mr. Balogun is a business leader and one of the largest domestic investors in Nigeria's venture and start-up ecosystem. He co-promoted Nigeria's leading gender lens-investing platform, SME.NG, which owns Nigeria's only all-female accelerator, She Works Here.

Besides chairing the Boards of Unilever Nigeria Plc and Endeavor Nigeria, Mr Balogun is also a Board Member of the United Nations Global Compact and is Co-Chair of the Private Sector Advisory Group on the SDGs, which is working with the Nigerian government on tax credits financing from the private sector to support basic education. He is a Director of Trustfund Pensions, one of Nigeria's largest pension fund managers. He is a former Chairman of Lafarge Africa Plc and Nahco FTZ Limited, a former Director of Nahco Aviance Plc and NASD OTC Plc, and was appointed to the Johannesburg Stock Exchange, Africa Advisory Board in September 2009. He was appointed to the Board of Unilever Nigeria Plc. in May 2024.

MR. TOBI ADENIYI - MANAGING DIRECTOR

Mr. Tobi Adeniyi began his career in 2009 as a Unilever Future Leader who has amassed experience within the Supply Chain and Commercial operations aspects of the business. He is an advocate for virtuous leadership and has over the years successfully steered complex business environments across West Africa, Singapore, Philippines, and Indonesia, delivering strong business performance.

He has led large-scale commercial and operational turnarounds through innovation, cost optimization, and governance, to drive value. He has spearheaded initiatives in digital transformation, route-to-market expansion, P&L margin optimization, successfully integrating AI-driven forecasting, trade partnerships, and cost-efficient logistics models. His leadership in commercial and operational roles has helped position multiple Unilever entities for long-term success and drive competitive edge, more recently leading an integrated business planning approach for Unilever Nigeria Plc to successfully navigate the wave of Covid-19 pandemic and forex volatility.

Mr. Adeniyi is passionate about industry advocacy for Nigeria's non-oil export sector, and mentoring. He serves as current Vice Chairman of Manufacturers Association of Nigeria Export Promotion Group (MANEG) and is a member of the Institute of Directors (IOD). He also actively supports startup innovation and talent development initiatives, fostering the next generation of leaders.

Mr. Adeniyi holds a Bachelor of Science Degree in Computer Engineering from Kwame Nkrumah University of Science & Technology Ghana. He has completed executive training at Columbia Business School, MIT Sloan, and Dartmouth's Tuck School of Business.

After serving previously as Supply Chain Director and later Sales Director, he assumed the position of Managing Director and was appointed to the Board of Unilever Nigeria Plc in January 2025.

MR. BEN LANGAT (KENYAN) - NON-EXECUTIVE DIRECTOR

Mr. Ben Langat has over 30 years' experience from holding different capacities in multinationals across Africa. He started his career at Unilever Tea Kenya in 1993 and later Unilever Malawi before rising to the position of Finance Director in Kenya and Ghana. In 2009 he moved to be CFO at Coca Cola Hellenic Nigeria, where he was subsequently appointed Managing Director (MD) in 2012. In 2017 he joined Friesland Campina as the MD of FrieslandCampina WAMCO Nigeria Plc and was promoted in 2021 to Managing Director FrieslandCampina Sub-Saharan Africa Cluster, a position he held till December 2023 when he resigned to rejoin Unilever.

He has extensive experience across African markets where he has consistently led businesses to accelerate performance and build long term growth strategies. He has overseen the businesses to deliver strong results during volatile times. He has a strong legacy of talent development and continuously seeks to bring the best out of people.

He is past Vice President of the Association of Foods Beverage and Tobacco Employers of Nigeria (AFBTE) and an active member of several industry advocacy groups.

Mr. Langat holds a Bachelor of Commerce Degree from the University of Nairobi, Master of Business Administration from Edinburgh Business School - Heriot Watt University, Scotland UK and is a certified Public-Accountant of Kenya CPA (K). He is a member of the Institute of Certified Public Accountants of Kenya (ICPAK). He is an alumnus of Harvard Business School Advance Management Program AMP191, Boston USA, the London Business School as well as IMD Lausanne Switzerland.

Mr. Ben Langat is the Executive Vice President of Unilever East and West Africa region and was appointed to the Board of Unilever Nigeria Plc in January 2024

MR. MICHAEL IKPOKI-INDEPENDENT NON-EXECUTIVE DIRECTOR

Mr. Michael Ikpoki is an accomplished Multinational Business Executive and leader with over thirty (30) years experience across regulatory, commercial, operational, executive management/leadership and consulting/advisory roles in the African telecommunications Industry. Mr. Ikpoki has proven experience in successfully managing and growing telecom/ICT/consumer businesses in the largest economies in Africa. Key roles held in his 14-year career in MTN Group includes Sales Director in MTN Nigeria, Chief Executive Officer in MTN Ghana and Chief Executive Officer in MTN Nigeria.

He founded and has been Managing Partner of Africa Context Advisory Partners since 2016 driven by his passion to adapt his experience towards advising leaders, investors and businesses seeking to acquire, establish, run and oversee growth businesses in ICT and other sectors across Africa. To that end, he serves as a Senior resource/ Adviser to some significant local and pan-African growth-minded businesses/investor Groups and holding companies. Such companies include Onafriq (formerly known as MFS Africa) which is one of Africa's largest Pan-African digital payments hub and Telecel Group which is a fast-growing African telecommunications Operator.

He is the Chairman of the Boards of Onafriq Nigeria Payments Limited, Amplitude Telecoms Africa Limited and Arnergy Solar Limited. He also sits on the Board of Emerging Markets Telecommunications Services (trading under the brand name T2 - formerly 9Mobile) as well as Unilever Nigeria Plc.

He has also been engaged by aspiring and existing CEOs for leadership mentoring and has now created Africa Context CEO Mentoring Experience TM which is a curated service and platform for mentoring CEOs in Africa.

He was appointed to the Board of Unilever Nigeria Plc in February 2021.

MR. CHIKA NWOBI - NON-EXECUTIVE DIRECTOR

Mr. Chika Nwobi is the Founder and CEO of Decagon, an organization that trains brilliant young Nigerians to be world-class software engineers and then connects them to local and global opportunities. Before Decagon, Chika was involved in incubating over 20 startups including Babybliss, Nigeria's top omni-channel platform for mother and baby, Jobberman and Cheki.

Mr. Nwobi was the founder of MTech where he launched Nigeria's first mobile internet service with MTN Nigeria in 2001 and helped pioneer the Mobile VAS industry. He has also led consulting engagements for Ford Foundation and IFC, and is a venture partner in Rise Capital, an emerging markets focused venture capital firm.

Mr. Nwobi has a BA in Economics and a B.Sc. in Computer Science and is currently enrolled in the MSc Software Engineering program at University of Oxford. He also completed the Stanford University SEED Transformation Program. He is passionate about education and developing young people and has been invited to speak at Wharton Business School, New York University, and Lagos Business School. He has also served as judge and mentor for entrepreneurship programs of the Federal Government of Nigeria and the World Bank XL startup program.

He was appointed to the Board of Unilever Nigeria Plc in January 2018.

MRS. FOLAKE OGUNDIPE - EXECUTIVE DIRECTOR

Mrs. Folake Ogundipe served as Executive Director and National Finance Director of Unilever Nigeria Plc. She has vast knowledge and experience in leading finance functions to deliver corporate objectives that maximize stakeholders value. She possesses hands-on experience as Chief Finance Officer with remarkable leadership skills and strong accounting capabilities including IFRS, and GAAP with proven knowledge of delivering end-to-end financial procedures, designing effective and efficient controls, improving regulatory compliance, reporting, and minimizing risks.

She is adept at steering and establishing robust financial management capability as well as formulating effective strategies to drive strong financial governance. In her career, she has proven to be a strong leader who is enthusiastic and result driven.

She has built a formidable career working in various organizations both in Nigeria and the United Kingdom. Prior to joining Unilever Nigeria Plc, she was the Chief Financial Officer for PES (Pivot Energy Services) Group - A Honeywell Company based in Lagos, Nigeria, Financial Controller for Nigerdock Nigeria Ltd. She has other experience working at Subsea7 S.A UK, Phillips Consulting Ltd and Investment Banking & Trust Company (IBTC) Limited.

Mrs. Ogundipe holds a B.Sc. Accounting from Obafemi Awolowo University, Ile-Ife, Nigeria and M.Sc. Management from University of Leicester, UK. She is a Fellow of the Institute of chartered Accountants of Nigeria (ICAN) and an Associate member of the Chartered Institute of Management Accountants, UK (CIMA).

She resigned from the Board of Unilever Nigeria Plc effective 30th June 2025.

MR. OBINNA EMENYONU - EXECUTIVE DIRECTOR

Mr. Obinna Emenyonu is a seasoned Procurement and Supply Chain professional with an impressive 22-year track record in management and leadership. He has consistently delivered successful margin improvement initiatives, showcasing expertise in strategic planning, business process reengineering, budget management, Forex Neutrality, P&L Impact, Contract Manufacturing, Aggregation Models, Restructuring, Cost Savings Initiatives, human resources, and working capital improvement.

As the Procurement Director of the Unilever West Africa region since September 1, 2019, he oversees Nigeria, Ghana, and Ivory Coast, driving excellence in Execution & Budget Planning, Supplier Engagement, Negotiation, Risk Management, Contract Management, Customer Client Management, and Procurement Process management. His leadership is marked by a strong focus on team building and execution.

With a background in reputable multinationals across Africa, Mr. Emenyonu previously served as the Head of Procurement at Lafarge Africa Plc and PZ Cussons. At PZ Cussons, he rose through the ranks from Head of Procurement Nigeria to eventually becoming the Head of Procurement for Africa, overseeing operations in Nigeria, Ghana, and Kenya.

He holds a Bachelor of Manufacturing Engineering Degree from the University of Salford, Manchester, United Kingdom, and a Post Graduate Certificate from Warwick University. He is a member of the Chartered Institute of Purchasing and Supply and the Institute of Electrical and Electronics Engineers (UK).

He resigned from the Board of Unilever Nigeria Plc effective 30th September 2025.

MS. NGOZI EDOZIEN - INDEPENDENT NON-EXECUTIVE DIRECTOR

Ms. Ngozi Edozien is currently the Managing Director of InVivo Partners Ltd, an advisory firm providing strategy, operations and ESG consulting and investment support. She is a Partner to ESG in Action Africa (Nigeria) and Competent Boards, (Canada). Both focus on ESG training and consulting.

Ms. Edozien is a seasoned Non-Executive Director sitting on the Boards of several large, listed companies in Africa and the UK. Prior to launching InVivo Partners Ltd she served as Managing Director of Actis LLP's West Africa business - a leading private equity firm across emerging markets. She draws on her over 35 years of experience in finance, strategy consulting, operational management, and board governance in corporations globally to bring value to her investee companies and clients.

Ms. Edozien experience is broad based having been a Wall Street executive first at Solomon Brothers and then at JP Morgan. Post her MBA, Ms. Edozien worked for McKinsey & Co. in London and Paris where she became an Associate Principal. In 1999, she joined Pfizer, Inc in New York City, where she was Vice President Strategic Planning and Business Development until 2005 when she was transferred to Nigeria as the Regional Director, Pfizer Pharmaceuticals Group for Anglophone East, West, and Central Africa.

Ms. Edozien currently sits on several Boards including: Bank of Africa, BMCE Group (Morocco); Imperial Brands Plc (United Kingdom), Guinness Nigeria/Diageo Plc (Nigeria); Ikeja Hotels Plc (Nigeria) and subsidiaries of the Nigerian Stock Exchange in addition to some privately held businesses within her investment portfolio.

Ms. Edozien's past board roles include: Stanbic IBTC Holdings (Nigeria) of Standard Bank Group; Barloworld Plc (South Africa); PZ Cussons Plc (United Kingdom), Visco Group (Netherlands), Seven Energy (Nigeria), UAC (Nigeria), Diamond Bank Plc (Nigeria) and Mouka Foam (Nigeria). She advises several African early-stage businesses in various sectors including healthcare, FMCG, Financial Services and Technology.

She was appointed to the Board of Unilever Nigeria Plc. in May 2024.

MRS. UMMA YUSUF ABOKI - INDEPENDENT NON-EXECUTIVE DIRECTOR

Mrs. Umma Yusuf Aboki is an accomplished leader with over 25 years of diverse experience across the public and private sectors, specializing in banking, investment promotion, and public-private partnerships (PPP). She has a proven track record of driving economic growth, fostering strategic partnerships, and managing high-value client portfolios.

Her extensive banking experience includes roles at Guaranty Trust Bank, Sterling Bank, and Habib Nigeria Bank. She possesses expertise in financial management, risk assessment, regulatory compliance, and delivering tailored banking solutions that drive profitability and enhance client satisfaction.

She was the Executive Secretary/CEO at the Kaduna Investment Promotion Agency (KADIPA) and was Commissioner for Planning and Budgeting in Kaduna State (April 2022 - May 2023), She is a member of some professional bodies including Chartered Institute of Bankers, Institute of Chartered Economists in Nigeria and the Institute of Islamic Banking & Insurance, London. She has attended various Management and professional courses.

She was appointed to the Board of Unilever Nigeria Plc in January 2025.

MRS. ADENIKE OGUNLESI - INDEPENDENT NON-EXECUTIVE DIRECTOR

Mrs. Adenike Ogunlesi's educational journey spans globally renowned institutions, including IE Business School, Lagos Business School, and Gordon Institute of Business Science, where she honed her expertise in corporate governance, strategic leadership, and retail management.

She is a trailblazing entrepreneur, corporate leader, and changemaker whose visionary leadership has redefined Nigeria's fashion, retail, and manufacturing industries. As the Founder and Chief Responsibility Officer of Gatimo Limited, she has built a legacy of innovation and excellence, establishing Ruff 'n' Tumble as a premier fashion brand celebrated for its craftsmanship, creative ingenuity, and deep-rooted commitment to African heritage.

With over three decades of transformative leadership, Mrs. Ogunlesi has pioneered modern retail practices, garment manufacturing, and brand storytelling, positioning Nigeria on the global stage while nurturing a generation of entrepreneurs. Her work transcends business - she is a mentor, public speaker, and advocate for sustainable enterprise, women's leadership, and ethical governance.

Mrs. Ogunlesi's leadership at Gatimo Ltd. has transformed the company into Nigeria's leading garment manufacturing powerhouse, producing over 1,500 garments daily. Under her stewardship, the company has set new benchmarks for quality, sustainability, and African-inspired fashion, driving an industry-wide shift towards homegrown excellence.

As the Founding President of the Network of Entrepreneurial Women (NNEW), she established a groundbreaking platform that empowers women entrepreneurs through mentorship, funding access, and advocacy, creating pathways for female-led enterprises to flourish.

Mrs. Ogunlesi's influence extends beyond fashion, as she serves on the boards of Lafarge Holcim Plc, Enterprise Development Centre (EDC) at Lagos Business School, WISCAR (Women in Successful Careers), and Garment and

Accessories Manufacturers of Nigeria (GAMAN). Through these roles, she drives policy advocacy, ethical governance, and industrial development, shaping Nigeria's business landscape for sustainable growth.

Mrs. Ogunlesi is a sought-after keynote speaker and thought leader, inspiring audiences with her profound insights on entrepreneurship, leadership, and the future of African industries. She is a certified Family and Life Systems Coach and Neuro-Linguistic Programming Coach, equipping individuals and businesses with tools for transformative success.

She was appointed to the Board of Unilever Nigeria Plc in March 2025.

MR. IBRAHIM SODIPE - FINANCE DIRECTOR

Mr. Ibrahim Sodipe has over 13 years of varied experience across financial reporting, financial controls, supply chain finance, forecast & planning, commercial finance and global audit. In the last five years, he has served as the Financial Controller for Unilever Maghreb (Morocco, Algeria and Tunisia), Commercial Finance Business Partner for West Africa and recently seconded to Unilever Ethiopia as Head of Finance.

Given inflationary pressures and currency instability in recent times, Mr. Sodipe has been pivotal in driving business profitability and has helped enshrine this winning mentality in the business. He has also demonstrated transformational capabilities in turning around business processes across West and North Africa. As a member of Unilever Investor Board (East and West Africa), he helps to shape business strategy as well as portfolio expansion.

Prior to joining Unilever, Mr. Sodipe worked with Afrinvest (West Africa) Limited and SIAO. He is very passionate about serving the consumer needs with the best brands while driving profitable business growth underpinned with strong controls and talent development.

A graduate of Industrial Relations and Personnel Management (B.Sc.) from University of Lagos, Mr. Sodipe is also a member of the Association of Chartered Certified Accountants (ACCA).

He was appointed to the Board of Unilever Nigeria Plc in June 2025.

MR. UCHENNA NWAKANMA - EXECUTIVE DIRECTOR

Mr. Uchenna Nwakanma is an accomplished Research & Development (R&D) Business Leader with over 20 years of experience driving innovation, product excellence, and strategic growth across Africa's fast-moving consumer goods industry.

Mr. Nwakanma currently serves as R&D Director for Unilever in the Personal Care category across the Africa Cluster, where he leads the regional R&D strategy, ensuring the successful delivery of innovation projects that meet evolving consumer needs across diverse markets. His expertise spans across Home Care, Personal Care, Baby Care, Pesticides, Lavatory Care, and Over-the-Counter Pharmaceuticals, with a consistent track record of leading cross-functional teams to deliver high-impact innovations that balance technical rigor, consumer insight, and regulatory compliance.

Prior to this role, he was Head of R&D at PZ Cussons and also at Reckitt Benkiser, where he led the end-to-end innovation pipeline and capability development programs that strengthened the company's footprint and competitiveness across Africa. A strong advocate for sustainable manufacturing and local value creation, Mr. Nwakanma has worked closely with key industry bodies such as the Standards Organization of Nigeria (SON) as Technical Review Member of standards, and the Manufacturers Association of Nigeria (MAN) to champion initiatives that promote local sourcing, quality excellence, and talent development in Nigeria's manufacturing ecosystem.

An Industrial Chemist with an MBA in General Management and a member of the Chartered Institute of Chemist Nigeria, Mr. Nwakanma has contributed his expertise in different forums across Africa, including cosmetics bodies/ associations, medical associations, and the Federal Ministry of Science, Nigeria.

He was appointed to the Board of Unilever Nigeria Plc in November 2025.

MR. PETER DADA - COMPANY SECRETARY

Mr. Peter Dada is an astute Legal professional, experienced executive business leader and Chartered Secretary. He has over 20 years experience in various roles and organisations, helping corporations to succeed profitably in Nigeria and West Africa. His expertise cuts across different aspects of law including Intellectual Property Law, Corporate Law and Governance, Regulatory Advisory and Compliance, Labour & Employment and Brand Protection.

Mr. Dada began his career working with commercial law firms and later joined GlaxoSmithKline Consumer Nigeria Plc as the Assistant Company Secretary and Suntory Beverage & Food Nigeria Limited as the Head of Legal and Company Secretary.

He is a member of the Nigerian Bar Association, Society for Corporate Governance of Nigeria and the Institute of Chartered Secretaries and Administrators of Nigeria.

He is an alumnus of the University of Lagos (LLB), Nigerian Law School (BL) and the University of Cumbria, UK (LLM).

He was appointed as the Company Secretary of Unilever Nigeria Plc. in October 2024.

UNILEVER NIGERIA PLC ABRIDGED 2025 SUSTAINABILITY REPORT

About the Report

Our abridged 2025 Sustainability Report forms part of our Annual Report and highlights how we identified, managed, and responded to sustainability and climate-related risks and opportunities across our operations for the period 1 January to 31 December 2025. Our main Sustainability Report will include a more detailed narrative and context that underpin the summaries here.

This report has been prepared considering the requirements of the Global Reporting Initiative (GRI) Standards, which provide a widely recognised framework for sustainability reporting. In addition, as part of our planned transition to the IFRS Sustainability Disclosure Standards (IFRS S1 and IFRS S2), the disclosure requirements of these standards have also been taken into consideration. We have also taken into account guidance from the United Nations Sustainable Development Goals (UNSDGs) and the Nigerian Exchange Sustainability Disclosure Guidelines.

Our sustainability strategy in 2025 was guided by our global Unilever Sustainability priorities, which reinforces the role of sustainability as a driver of performance, productivity, and long-term value creation. Locally, we focused on priority areas where we can deliver the greatest impact and manage the most material risks and opportunities, which include livelihoods (Future-X Unilever Campus Ambassadors Programme, Shakti women, Localisation), and plastics.

Highlights of our 2025 Progress

• Climate: We developed and implemented several mitigation actions in response to our 2025 physical and transition risk assessment.

• Business Ethics: We identified 9 Business Integrity Cases through our Speak Up channels, which were all resolved.

• Water Management: We installed a pressure washer machine at the Agbara

  manufacturing site, designed to significantly reduce water consumption during cleaning operations, saving approximately 3 cubic meters of water every day.

• Waste Management: We have replaced 84% and 85% of traditional paper-based

  activities at our Agbara and Oregun sites with digital tools and achieved 29% of reduction in waste generation.

• Employee Health & Safety: We delivered over 280 HSE- related training courses

  across the organisation, both physically and virtually.

• Energy Management: We reduced our total energy consumption by approximately 5% compared to the previous year.

• Plastics: Through our partnership with Wecyclers, we collected over 2,800 metric tonnes

  of plastics compared to our targeted collection of 2,699 metric tonnes. We also collected more plastics than we introduced to the market in 2024 and 2025.

• Livelihood: Our focus centres on 3 main areas, namely:

  • Shakti Women: Empowered over 13000 Shakti women (an initiative that empowers women by training them as micro-entrepreneurs to sell our products, boost their income and expand their community's access to essential products) in 22 states including the FCT. Furthermore, our total People with Disabilities Shakti network now exceeds 600 women.

  • Future-X Unilever Campus Ambassadors Programme (FUCAP): In

    partnership with UNICEF's Generation Unlimited, the Future-X Unilever Campus Ambassadors Program (FUCAP) has been designed to enhance the employability of young Nigerians, with the target of equipping 700,000 students in three years with essential workplace skills. Since its launch in July 2023, we have already engaged more than 900,000 young people through online entrepreneurial and workplace skills and offline career upskilling seminars across Universities and Polytechnics in the Country, achieving 128% of our target.

  • Localisation: We have localised over 60% of our raw materials through various initiatives, creating over 10,000 jobs across the value chain.

Our Approach to Identifying Sustainability Risk and Opportunities

Through our sustainability risk assessment process, we identified key issues that are pivotal to our stakeholders and business. It ensures we are focused on the most important sustainability matters, stakeholder concerns, competitive drivers, regulatory trends, risks, and opportunities.

At Unilever Nigeria, we recognise that risk assessment is not a static exercise but a dynamic process that evolves with changing societal expectations, stakeholder priorities, and business realities. This assessment covers our entire value chain, all interactions, resources, and relationships, leading to combined insights from Stakeholders, Industry Peers, Regulators, etc. By integrating the guiding principles of IFRS S1 and S2 with a thorough assessment of our internal and external environment, we identified the sustainability issues most material to the diverse operations and stakeholders within our organisation. Fifteen (15) issues emerged as material to our business.

Material issues were categorised using a 5-by-5 scoring matrix that reflects their relative financial impact on the business. The resulting materiality matrix highlights the topics of greatest significance and continues to guide strategic focus, performance management, and disclosure.

The table below lists all material issues identified in 2025 and their implications for us as they align with the Sustainable Development Goals.

Our Planet

Our environmental strategy focuses on reducing our footprint, protecting and regenerating the environment, while strengthening the resilience of our climate action, energy efficiency, water stewardship, waste reduction, and biodiversity protection to help create a healthier planet for future generations.

1. Biodiversity Impact

   In Unilever Nigeria, our principle is minimising operational impacts by ensuring our sites do not contribute to biodiversity loss. Our two key manufacturing sites in Oregun (approximately 2,500 m²) and Agbara (approximately 6,000 m²) are not located in areas that contribute significantly to global biodiversity in terrestrial, freshwater, and marine ecosystems, thereby significantly reducing the risk of adverse ecological impacts. Both sites are fully industrial and do not involve activities that could affect habitats or wildlife.

   During the year, our environmental reviews confirmed that our operations did not result in any significant biodiversity loss, species disruption, or habitat degradation. No restoration activities were required across our sites, reflecting our sustained focus on prevention. No species listed in the International Union for Conservation of Nature (IUCN) Red List of Threatened Species or nationally listed species were identified as affected by our operations.

2. Climate Change

   To deepen transparency and strengthen climate actions, we disclose our performance with guidance from the IFRS S2 cross-industry metrics, which capture how we manage climate-related risks and opportunities across our operations.

   1. Greenhouse Gas Emissions

      We remain committed to reducing our environmental footprint and advancing the transition to a low-carbon future. Guided by our global long-term ambition to achieve net zero GHG emissions by 2039, set out in our Climate Transition Action Plan, we continue to measure, manage, and disclose our greenhouse gas (GHG) emissions to ensure transparency and accountability using the GHG protocol.

      Scope 1 Direct GHG Emissions

      Location	GHG Emission Sources	Metric tons CO2e (2025)	Metric tons CO2e (2024)
      Agbara	Natural gas and Diesel	4,774	4,665
      Oregun(inclusive of Head-Office)	Diesel	261	320
      Total		5,035	4,985

      Scope 2 Energy Indirect GHG Emissions

      Location	GHG Emission Sources	Metric tons CO2e (2025)	Metric tons CO2e (2024)
      Agbara	Public Grid	123	801
      Oregun(inclusive of Head-Office)	Public Grid	595	639
      Total		718	1,440

   2. Climate, Physical, and Transition Risk and Opportunities

      We identified certain climate risks and opportunities that we believe are significant and could, at some point in the future, be material to our business. This was assessed over the short, medium, and long term. Our financial and operational impact on our business, as well as mitigative strategies, would be further disclosed in our standalone report.

      Climate Risks

      Climate Physical risks: These arise from the direct impacts of climate change on assets, retail operations, distribution, and supply chain.

      At Unilever, we are exposed to the following as physical risks.

      Risk Categorisation	Risks	Description of Risk	Timeframe
      Climate Physical Risk	Extreme Weather Events	Acute events such as floods (like the 2024/2025 incidents) or severe storms that damage factories or block logistics routes.	Short Term (0 to 1 years)
      	Extreme heatwaves	Extreme heatwaves are impacting the health and output of factory floor workers at Agbara and Oregun.	Medium Term
      	Change in climate patterns	Long-term shifts in climate patterns leading to crop failure (e.g., shea, tea) or permanent infrastructure degradation in Nigeria.	Long Term

      Climate Transition risk: Transition risks arise from the global shift towards a low-carbon economy. These risks result from changes in policy, regulation, technology, markets, and stakeholder expectations that can affect business models and profitability.

      At Unilever, we are exposed to the following Transition risk.

      Risk Categorisation	Risks	Description of Risk	Timeframe
      Climate Transition Risk	Failure to Innovate in Product Formulation and Design	The risk of falling behind competitors in transitioning to plastic-free, biodegradable, or carbon-neutral product designs.	Medium to Long Term (3-10 years)
      	Carbon Taxes	The risk of the introduction of a domestic carbon levy or the removal of industrial gas subsidies to meet Nigeria's NDC 2060 Net-Zero goal.	Short to Medium Term
      	Reputational Risk	The risk of public scrutiny of our "Net Zero" claims. If the firm fails to meet IFRS S2's disclosure quality, it faces a "Reputational risk" from ESG investors.	Short to Medium Term
      	Extended Producer Responsibility (EPR)	The risk of extreme heatwaves impacting the health and output of factory floor workers at Agbara and Oregun.	Short to Medium Term
      	Stranded Energy Assets	The risk of Unilever diesel (AGO) generators is becoming economically unviable due to emission limits and global fuel price spikes.	Short to Medium Term
      	Market and Price Volatility	Fluctuations in raw material prices (palm oil, tallow) and foreign exchange (FX) volatility affect imported components.	Medium to Long Term (3-10 years)

      Climate Opportunities

      • Capitalising on consumer shifts to sustainable consumption

      • Investment in Energy Transition Technologies

      • Innovation in Product Formulation and Design

      • Strengthening Local Supply Chain Resilience

      • Leading the Transition to a Regenerative Economy

      • Shaping Policy and Industry Standards

   3. Capital Deployments

      We allocate capital to initiatives that support climate-related risk mitigation, circular economy outcomes, and operational efficiency, such as ₦2.2 billion provided through an outcome-based loan to Wecyclers Nigeria Ltd to support waste recovery and recycling rates across several states in Nigeria.

3. Water Management

   Across our Agbara and Oregun sites, water is primarily used for production processes, cleaning, cooling, and facility operations.

   In 2025, our total water usage across our manufacturing sites stood at 70,299 m³, of which 100% was derived from groundwater used in manufacturing sites and none from surface water from rivers, lakes, rainwater, or dams for manufacturing sites.

   Water in manufacturing (m³)	2025		2024
   	Total Water Consumed	Total water withdrawn	Total Water Consumed	Total water withdrawn
   Agbara(m³)	66,263	114,968	51,631	94,656
   Oregun(m³) (inclusive of Head-Office)	4,036	4,580	5,966	5,996
   Total	70,299	119,548	57,597	100,652

   We ensure none of our manufacturing sites withdraw water from regions under high or extremely high baseline water stress, and no incidents of non-compliance with water withdrawal, water quality, or wastewater discharge regulations occurred.

4. Waste Management

   We employ a cradle-to-cradle approach to waste management, ensuring all waste is either reused, recycled and disposed. During the year, the total material waste generated across all locations was 1,313 metric tonnes. The breakdown by site and waste type is as follows:

   Breakdown of waste generated per location (metric tons)

   	2025	2024
   Agbara	765	1,189
   Oregun (inclusive of Head-Office)	548	676
   Total	1,313	1,865

   Breakdown of waste generated per location and waste types(kg)

   	2025		2024
   	Agbara (kg)	Oregun (kg) (inclusive of Head-Office)	Agbara (kg)	Oregun (kg) (inclusive of Head-Office)
   Plastic	262,650	19,274	305,120	22,179
   Cardboard	179,210	17,973	159,550	16,454
   Wood	108,540	198,935	136,940	156,950
   Paper	8,900	20,550	13,780	42,860
   Other Waste	154,530	1,123	570,948	18,525
   Drums	8,520	288,079	2,670	418,752
   Metal	43,030	1,256	0	80
   Total	765,380	547,190	1,189,008	675,800

   Breakdown of waste by category (metric tons)

   	2025		2024
   	Agbara	Oregun (kg) (inclusive of Head-Office)	Agbara	Oregun (kg) (inclusive of Head-Office)
   Recycled	248	118	262	294
   Reused	517	429	927	382
   Disposed	0	1	0	1
   Total	765	548	1189	677

   There were no recorded incidents of non-compliance, fines, or penalties related to waste management.

5. Energy Management

In 2025, our total energy consumption across our two manufacturing sites (Agbara and Oregun) amounted to 95,159 GJ. Energy consumption is predominantly from natural gas, with additional contributions from diesel and grid electricity.

Total Energy Consumption (GJ) per Location

Total Energy Consumption (GJ) by Source

Our People

Behind every thriving business and resilient community are individuals whose talents, ambitions, and well-being shape the future.

1. Employee Health and Safety

   It covers both Occupational Health & Safety and broader employee wellbeing, ensuring safe workplaces, a strong safety culture, and accessible health services. We believe that every employee, contractor, and partner deserves to return home safe and healthy at the end of each day.

   The following data illustrates the scope and impact of our employee health and safety efforts in 2025:

   Occupational Safety Performance Overview

   Work-Related Injuries by Location (All Oregun disclosures are inclusive of Head-Office)

   	2025			2024
   Indicator	Agbara	Oregun	Total	Agbara	Oregun	Total
   Fatalities - Employees	0	0	0	0	0	0
   Fatalities - Contractors	0	0	0	0	0	0
   Lost-Time Injuries Frequency Rate (LTIFR) -Employees	0	0	0	0	0	0
   Lost-Time Injuries Frequency Rate (LTIFR) -Contractors	0	0	0	0	0	0
   Occupational Illness Frequency Rate (OIFR) -Employees	0	0	0	0	0	0
   Occupational Illness Frequency Rate (OIFR) -Contractors	0	0	0	0	0	0
   Accident rate: Total Recordable Frequency Rate (TRFR) per 1,000,000 hours worked -Employee	0	0	0	0	0	0
   Accident rate: Total Recordable Frequency Rate (TRFR) per 1,000,000 hours worked -Contractors	0	2	2	0	0	0
   Medically treated case (MTC)	0	2	2	0	0	0

   Our medical team not only provides clinical care but also supports workplace wellness campaigns and safety awareness drives, including World Safety Day, World Environment Day, and targeted initiatives such as "Hand in Machine.

   HSE Training activities

   	2025			2024
   Training category	Oregun	Agbara	Total	Oregun	Agbara	Total
   Total number of physical classroom training	129	89	218	43	94	137
   Total number of Virtual (Online) training	60	5	65	5	5	10
   Total Number of employees trained on HSE	271	235	506	137	608	745
   Total number of hours of training	13,753	57,379	71,132	13,289	97,280	110,569
   Average HSE training hours per employee	126	244	370	97	160	257
   Cost of HSE training in NGN	8,150,525	3,171,875	11,322,400	4,500,279	11,868,750	16,369,029

   Across all locations: Oregun, Agbara, and Head Office, every HSE training conducted was mandatory.

2. Employee Practices

Employment Practices encompass everything that touches the lives of our workforce, from fostering a diverse and inclusive culture to developing talent and empowering young people entering the workforce. In 2025, our commitment has been to create an environment where everyone, regardless of gender, age, ability, or background, can thrive, contribute meaningfully, and grow their careers with us.

Workforce Overview Employee Category by Gender

Employee Category by Location

Employee Category by Age Group

Board Category by Gender

Board Category by Age Group

Average Hours of Training by Gender

Average Hours of Training by Employee Category

Employee Turnover

Parental Leave

We monitor age, gender, disability, and other indicators to ensure fair representation. Gender pay parity is maintained across all employee categories, and there have been no discrimination claims or legal actions related to employment practices.

Our Society

We are committed to earning and maintaining trust with customers and communities through responsible products and practices. `

1. Product Labelling and Marketing

   At Unilever Nigeria Plc, transparent product labelling and responsible marketing are fundamental to our commitment to consumer trust and public health.

   In 2025, we ensured that all products, including new pack sizes and reformulated items, were submitted to NAFDAC for approval to maintain compliance with relevant health and nutrition regulations. We also achieved full compliance with local labelling regulations across all products, confirmed through regular audits, and there were zero incidents of non-compliance with labelling or marketing codes, resulting in no monetary losses. We continued to promote health and nutrition by using transparent packaging and clear allergy indications, with brands such as Knorr and Royco featuring beneficial nutrient statements.

2. Human Rights

   We commit to identifying, preventing, and mitigating human rights risks throughout our operations and supply chain. Our strategy includes ensuring equitable treatment of workers, maintaining safe and healthy workplaces, and conducting regular assessments to identify potential areas of concern. During the year, we conducted comprehensive human rights due diligence and reported no incidents involving violations of the rights of indigenous peoples during the reporting period, reflecting the effectiveness of its ongoing efforts to uphold these standards.

3. Product Quality and Safety

   We are committed to ensuring the highest standards of quality and safety in our products, from sourcing raw materials through to production and delivery.

   Product Quality and Safety Performance	2025	2024
   	Number	Number
   % Products that underwent quality checks	100 %	100 %
   Facilities that underwent audit using the Global Food Safety Initiative (GFSI) - FSSC 22000 surveillance audit	1	1
   % of Tier 1 ingredients sourced from GFSI-certified suppliers	75 %	36 %

   Operational processes are managed through scientific tools such as Safety Data Sheets (SDS), Preliminary Hazard Assessments (PHA), Hazard Analysis Critical Control Point (HACCP), and Hazard and Operability Studies (HAZOP), complemented by governance mechanisms including Technical Risk Assessments (TRA) and Holistic Business Risk Assessments (BRA) to ensure continuous improvement in product safety and quality.

4. Sustainable Livelihoods

Our impact extends beyond the products we sell, reaching into the communities where we operate and the local economies that grow alongside us. We focused on embedding Nigerian farmers, suppliers, and entrepreneurs deeper into our value chain (by sourcing over 60% of our raw materials locally), while maintaining global quality and safety standards. We engaged over 10,000 farmers through various initiatives such as localisation of agro-spices (e.g., onion powder) and our cassava sorbitol initiative. In addition, all our flexible packaging materials are now 100% locally sourced.

Our Responsibility

We conduct our business in line with the highest standards of integrity and compliance, ensuring our operations meet legal requirements and reinforce accountability.

1. Business Ethics

   Our commitment to ethical conduct is reflected across the organisation. Every member of our team, from leadership to frontline staff, is entrusted with upholding our Code of Business Principles. This code guides our actions across diverse business areas and ensures our operations remain transparent, responsible, and compliant with Nigerian law.

   We have ensured that our anti-corruption policies and procedures have been communicated to all our stakeholders. This includes 100% of our Board members, 100% of our employees, and 100% of our business partners.

   Number of cases/ incidents recorded via Unilever Nigeria's reporting channels and breakdown by area, such as:	2025	2024
   Physical and Financial assets and IP	1	0
   Respect, dignity, and fair treatment	2	0
   Accurate Records, reporting, and accounting	2	3
   Occupational Health and Safety	0	0
   Non-code related matters	1	2
   Conflict of Interest	3	0
   Living the code	1	1
   Anti-bribery	0	0

   Compliance Monitoring and Speak Up

   Incident	2025	2024
   Number of Business Integrity Cases (Speak Up) - reported	9	4
   Number of Business Integrity Cases (Speak Up) - resolved	9	4

2. Registration, licensing, and permitting systems

During the reporting period, we recorded no environmental prosecutions or fines, and no associated financial penalties were incurred. Compliance with applicable laws and regulations is supported by established governance policies, including adherence to regulatory requirements such as the SEC Code of Corporate Governance and NGX sustainability-related obligations, as disclosed in the Directors' Report in the Annual Report.

We actively manage regulatory compliance through a structured permits and licences framework. In 2025, 24 permits and licences were applicable and in place. This approach supports continued compliance with environmental and operational regulatory requirements.

Our Purpose

Our global Unilever Sustainability priorities reflect how we engage with our value chain and develop our products, making sure they are created, sourced, and delivered in ways that promote sustainable living and generate long-term value for people and the planet.

1. Packaging Lifecycle Management

   Unilever approaches packaging decisions through a complete lifecycle lens from sourcing raw materials to the design of recyclable formats and end-of-life recovery pathways.

   During the reporting period, we tracked packaging performance across the full lifecycle by monitoring the total weight of packaging material used, the units of products sold, and the weight of products sold. In total, 5,126 metric tonnes of packaging materials were used, including 2,327 metric tonnes of paper and 2,799 metric tonnes of plastic. These materials supported the production and distribution of 411 million units of finished products weighing 49,296 metric tonnes, with 67% of all packaging designed to be recyclable, reusable, or compostable (100% of paper is recyclable and 38% of plastics is recyclable).

2. Environmental and Social Impacts of Ingredient Supply Chain

Sustainable ingredient sourcing and procurement is more than a compliance requirement; it reflects our commitment to building a resilient value chain that protects ecosystems, respects people, and strengthens communities.

We apply a risk-based approach to ingredient sourcing to manage environmental and social impacts across our agricultural supply chain. Tier 1 supplier locations and water-use practices are identified through strategic sourcing processes and assessed using WRI Aqueduct water-risk data.

During the reporting period, no food ingredients (by cost) were sourced from high-water-stress regions, while approximately 10% of agricultural inputs originated from regions where water risk data are unknown or unverified. These areas are prioritised for enhanced supplier engagement and data validation. Environmental and social risks, including climate-related seasonality, are managed through forward buying, supplier monitoring, and audit processes, with findings integrated into sourcing and risk management decisions.

We promote responsible sourcing by prioritising ingredients that meet recognised third-party environmental and social certification standards. During the reporting period, 100% of Tier 1 food ingredients were certified under schemes like sustainable agriculture, forest protection, labour rights, and child labour prevention. Through our responsible partnership policy, we ensure that partners are ethically compliant with laws as part of our onboarding process.

Local vs International Procurement

Looking ahead, we remain focused on translating sustainability ambition into measurable action and long-term value. This report provides a concise view of how sustainability supports our performance, resilience, and contribution to society, and how we remain dedicated to our global Unilever Sustainability Agenda and Business Model as we continue to produce and sell consumer goods across our three Business Groups: Beauty & Wellbeing, Personal Care and Foods.

The Directors hereby present their report together with the audited financial statements for the year ended 31 December 2025.

Legal Status

Unilever Nigeria Plc. is incorporated in Nigeria 1923 as a public limited liability company under the Companies and Allied Matters Act 2020 and is domiciled in Nigeria. The Company's shares are listed on the Nigerian Exchange Ltd. (NGX).

Principal activities

The Company is principally involved in the manufacture and marketing of Foods, Beauty & Wellbeing and Personal Care products. It has manufacturing sites in Oregun, Lagos State and Agbara, Ogun State.

Results

The results for the year are summarized as follows:

Dividend

An interim dividend of ₦0.50 per share was declared by the Board and paid during the third quarter of 2025.

Furthermore, the Board has recommended a final dividend of N18,671,267,605.25 (Eighteen Billion, Six Hundred and Seventy-One Million, Two Hundred and Sixty-Seven Thousand, Six Hundred and Five Naira, Twenty-Five Kobo) that is N3.25 kobo per share in respect of the year ended 31 December 2025, which is payable on Friday 8 May 2026 subject to the deduction of appropriate withholding tax, bringing the total dividend for the 2025 financial year to ₦3.75k per share.

Corporate Governance Report

Framework

Unilever Nigeria Plc. operates within a Corporate Governance framework established on the provisions of the following governance documents:

1. Companies and Allied Matters Act 2020.

2. The Rule Book of the Nigerian Exchange for the time being in force.

3. The Investment and Securities Act 2007.

4. Securities and Exchange Commission (SEC) Rules for the time being in force.

5. The Nigerian Code of Corporate Governance 2018.

6. Securities and Exchange Commission (SEC) Corporate Governance Guideline 2020.

7. The Memorandum and Articles of Association of Unilever Nigeria Plc.

8. The Board Charter.

9. The Unilever Code of Business Principles and Code Policies.

10. Subsidiary Governance of Unilever document.

    From the above, the Corporate Governance Policy of Unilever Nigeria Plc. can be summed up as follows:

    1. Unilever conducts its operations with integrity, openness and respect for human rights and the legitimate interests of its employees, business partners and stakeholders.

    2. As a Unilever Group company, it strives to comply with the laws and regulations of the countries in which it operates.

    3. Unilever focuses on the long-term sustainability of its business for the benefit of multiple stakeholders. The Company is committed to building trust and transparency across all its operations with stakeholders.

    4. Unilever will conduct its operations in accordance with internationally accepted principles of good

corporate governance. The Company will provide timely, regular and reliable information on its activities, structure, financial situation and performance to its shareholders and other stakeholders.

Compliance with the above principles is a critical element of the Unilever business success and all Unilever employees and business partners are mandated to comply with these principles.

During the year 2025, Unilever Nigeria Plc. continued to embed the principles of good corporate governance encapsulated in the Nigerian Code of Corporate Governance 2018, the Securities and Exchange Commission Corporate Governance Guideline 2020 and global best practices.

Board composition

The Directors who held office during the year 2025 and up to the date of this report are:

Board responsibilities

The Board has the apex responsibility for leadership, direction and performance of the company and has the powers, authority and duties vested in it by the relevant laws and regulations of the Federal Republic of Nigeria and the Articles of Association of Unilever Nigeria Plc. The Board has oversight responsibility for the management of risk and for reviewing the effectiveness of the internal control and risk management system within the Company.

The Board has delegated to the Managing Director all its powers, authority and discretions which relate to the day-to-day operations of Unilever Nigeria Plc.

The powers, authority, and discretions exclusively within the remit of the Board and which currently have not been delegated include making or approving the following:

1. Structural and constitutional powers

   1. Alteration of Articles of Association

   2. Alteration of the capital of the Company

   3. Significant asset disposal

2. Governance

   1. Convening of meetings of the shareholders of Unilever Nigeria Plc. and the setting of the agenda thereof and generally ensuring that a satisfactory dialogue with shareholders takes place.

   2. Presentation of the annual report and financial statements to shareholders.

   3. Reviewing and approving proposals from the Governance, Remuneration and Risk Management Committee.

   4. Proposals to the general meetings of shareholders of Unilever Nigeria Plc. on the Board remuneration policy within the authority set by the general meeting of shareholders.

   5. The periodic review of the functioning of the Board and its committees.

   6. Overall responsibility for compliance with all relevant laws, regulations and Code of Corporate Governance.

   7. The Operating Framework.

Board Appointment, Evaluation & Training

Unilever Nigeria Plc. appoints Directors in line with its Board recruitment process. The basic principle underlining the process of recruitment of Directors in Unilever Nigeria Plc. are the qualifications, ability and skills required for the role and the ability to make visible and independent contribution to the governance of Unilever Nigeria Plc. in accordance with Unilever global, regional and local strategy, Unilever Diversity and Inclusion principles and the relevant local legal requirements.

The governance process in Unilever Nigeria Plc. entails robust induction and training of Directors. Accordingly, Directors are taken through relevant and apposite training programmes to equip and empower them for the role on an ongoing basis.

In 2025, the Board conducted a strategy review to assess and refine its long-term objectives. Separately, a training session on Corporate Governance and Lessons Learnt was organized, which provided valuable insights into best practices and contributed to a measurable enhancement in board performance.

Unilever Nigeria Plc. provides the right atmosphere for its Directors' to demonstrate leadership and enhance their experiences. It further provides relevant governance information to its Directors and facilitates circulation of essential governance documents to the Board from time to time to keep them abreast of all relevant legal, regulatory and corporate governance developments and trends.

The Board of Directors of Unilever Nigeria Plc. is evaluated locally and at the Unilever Africa Cluster level on an annual basis. The Board and individual Directors are benchmarked against the requirements of the Unilever Code of Business Principles, the Code Policies, the laws and regulations of Nigeria, the Nigerian Code of Corporate Governance, the SEC Corporate Governance Guideline and other relevant governance provisions. The scope of evaluation covers diversity and inclusion, leadership, compliance, contribution to the Board agenda for the year, attendance at meetings, quality of discussions at Board meetings, level of engagement with government and the community, business performance and entrepreneurial acumen.

In line with the Unilever Governance standards and in compliance with the Nigerian Code of Corporate Governance, the SEC Corporate Governance Guideline, the Board of Unilever Nigeria Plc. conducted an internal evaluation exercise in respect of the period ended 31 December 2025 to review the performance of the Board, individual Directors, and Board Committees together with the Corporate Governance framework of Unilever Nigeria Plc. The Board and Corporate Governance Evaluation Report show that Unilever's governance procedures and practices during the year ended 31 December 2025 were essentially in compliance with the provisions of applicable laws, regulations, corporate governance Code and international best practices. Actions points from the Evaluation will be addressed in the course of 2026.

Directors Retiring By Rotation

In accordance with Article 90 of the Company's Articles of Association Mr. Michael Ikpoki, Mr. Ben Langat and Ms. Ngozi Edozien will retire by rotation and being eligible, offer themselves for re-election.

In addition, the following directors Mr. Ibrahim Sodipe and Mr. Uchenna Nwakanma who were appointed since the last Annual General Meeting will retire at this meeting and being eligible to offer themselves for re-election.

The profiles of all the five (5) Directors standing for re-election are contained on pages 7 - 12 of this Annual Report and Financial Statements.

Board committees

In line with the Code of Corporate Governance, the Board of Directors operates through the following committees/ Teams:

1. Leadership Team (LT)

   The Leadership Team comprises of the Executive Directors and Senior Executives who occupy strategic roles in the organization. The Leadership Team is responsible for delivering the corporate targets of the Company, establishing priorities, allocating resources, and seeing to the operations of the Company on a day-to-day basis.

   The Leadership Team is chaired by the Managing Director/Chief Executive Officer of the Company. Current members of the leadership team are as follows:

   1. Mr. Tobi Adeniyi - Managing Director

   2. Mr. Ibrahim Sodipe - Finance Director

   3. Mr. Peter Dada - Company Secretary

   4. Mr. Abayomi Alli - Manufacturing Director, Nigeria

   5. Mr. Michael Duah - EWA Head of HR

   6. Mrs. Bolanle Kehinde-Lawal - EWA head of Demand Creation Nutrition

   7. Mr. Uchenna Nwakanma - PC R&D Head of Africa and HC, R&D EWA Lead

   8. Mr. Chidobem Mgbachi - EWA IT Lead

   9. Mrs. Zainab Obagun - Communication and Sustainability Manager

2. The Statutory Audit Committee

   The Statutory Audit Committee, established in accordance with the provisions of Section 404(2) of the Companies and Allied Matters Act 2020, comprises of three (3) shareholders' representatives and two (2) Directors' representatives (both of whom are non-executive Directors). The Chairman of the Statutory Audit committee is a shareholders' representative. During the year under review, the committee met five (5) times.

   The functions of the Statutory Audit Committee are governed by the provisions of Section 404(7) of the Companies and Allied Matters Act 2020. The Members of the Statutory Audit Committee and the Report of the Audit Committee to the members are contained on page 42.

3. The Governance, Remuneration and People Committee

   The Governance, Remuneration and People Committee comprises solely of Non-Executive Directors. The Committee's Terms of Reference are in line with the Nigerian Code of Corporate Governance 2018. Members of the Committee during the year ended 31 December 2025 were:

   1. Mr. Michael Ikpoki

   2. Mrs. Umma Yusuf Aboki

   3. Mrs. Adenike Ogunlesi

   4. Mr. Ben Langat

   5. Mr. Chika Nwobi

4. The Board Finance, Audit and Risk Committee

   The Board Finance Audit and Risk Committee comprises solely of Non-Executive Directors. The Committee's Terms of Reference are in line with the Nigerian Code of Corporate Governance 2018. Members of the Committee during the year ended 31 December 2025 were:

   1. Ms. Ngozi Edozien

   2. Mrs. Umma Yusuf Aboki

   3. Mr. Ben Langat

   4. Mr. Chika Nwobi

   5. Mrs. Adenike Ogunlesi

      In 2025, all the above committees discharged their roles effectively and in line with their terms of reference.

      Board meetings

      During 2025, the Board held four (4) meetings. The record of Directors' attendance is presented below:

      Name	Meeting Date 24/3/2025	Meeting Date G/5/2025	Meeting Date 24/7/2025	Meeting Date 3/11/2025	Total
      Mr. Bolaji Balogun	✓	✓	✓	✓	4
      Mr. Tobi Adeniyi	✓	✓	✓	✓	4
      Mr. Ben Langat	✓	✓	✓	✓	4
      Mr. Michael Ikpoki	✓	✓	✓	✓	4
      Mr. Chika Nwobi	✓	✓	✓	✓	4
      Ms. Ngozi Edozien	✓	✓	✓	✓	4
      Mr. Obinna Emenyonu	✓	✓	X	NLB	2
      Mrs. Umma Yusuf Aboki	✓	✓	✓	✓	4
      Mrs. Folake Ogundipe	✓	✓	NLB	NLB	2
      Mrs. Adenike Ogunlesi	NYA	✓	✓	✓	3
      Mr. Ibrahim Sodipe	NYA	NYA	✓	✓	2
      Mr. Uchenna Nwakanma	NYA	NYA	NYA	✓	1

      • -Present; X -Absent with apologies; NYA - Not yet appointed; NLB -No longer on the Board.

        Governance, Remuneration and People Committee meetings

        The Governance, Remuneration and People Committee held four (4) meetings in 2025. The record of members' attendance is presented below:

        Name	Meeting Date 1G/3/2025	Meeting Date 28/4/2025	Meeting Date 17/7/2025	Meeting Date 6/11/2025	Total
        Mr. Michael Ikpoki	✓	✓	✓	✓	4
        Mr. Ben Langat	✓	✓	✓	✓	4
        Mrs. Umma Yusuf Aboki	NYA	✓	✓	✓	3
        Mrs. Adenike Ogunlesi	NYA	✓	✓	✓	3
        Mr. Chika Nwobi	NYA	✓	✓	✓	3

      • - Present: X- Absent with apologies, NYA - Not yet appointed

        Board Finance, Audit and Risk Committee meetings

        The Board Finance, Audit and Risk Committee held four (4) meetings in 2025. The record of members' attendance is presented below:

        Name	Meeting Date 17/3/2025	Meeting Date 23/4/2025	Meeting Date 17/7/2025	Meeting Date 27/10/2025	Total
        Ms. Ngozi Edozien	✓	✓	✓	✓	4
        Mr. Ben Langat	X	✓	✓	X	2
        Mr. Michael Ikpoki	✓	✓	✓	✓	4
        Mr. Chika Nwobi	✓	✓	✓	✓	4
        Mrs. Adenike Ogunlesi	NYA	✓	✓	X	2

      • - Present: X- Absent with apologies, NYA - Not yet appointed

        Statutory Audit Committee meetings

        Statutory Audit Committee held five (5) meetings in 2025. The record of members' attendance is presented below:

        Name	Meeting Date 21/1/2025	Meeting Date 20/3/2025	Meeting Date 22/4/2025	Meeting Date 22/7/2025	Meeting Date 21/10/2025	Total
        Mr. David Oguntoye	✓	✓	✓	✓	✓	5
        Mr. Wahab Ajani	✓	✓	✓	✓	✓	5
        Mr. Kolawole Durojaiye	✓	✓	✓	✓	✓	5
        Mr. Chika Nwobi	✓	✓	NLAM	NLAM	NLAM	2
        Ms. Ngozi Edozien	NYA	NYA	X	✓	✓	2
        Mr. Michael Ikpoki	NYA	NYA	✓	✓	✓	3

        • ✓ - Present: X- Absent with apologies, NYA - Not yet appointed; NLAM - No longer a member

      Record of Directors' attendance at Board meetings

      The record of the Directors' attendance at meetings during 2025 as listed above is available for inspection at the Annual General Meeting.

      Directors' interests in contracts

      No Director notified the Company for the purpose of section 303 of the Companies and Allied Matters Act 2020, of their direct or indirect interest in contracts or proposed contracts with the Company during the year.

      Directors' shareholding

      In accordance with Section 301 of the Companies and Allied Matters Act 2020, the Register of Directors' interests in the share capital of the Company will be open for inspection at the Annual General Meeting.

      The direct and indirect interest of Directors in the issued share capital of the Company as recorded in the Register of Directors' Shareholdings and/or as notified by them for the purposes of sections 301 and 302 of the Companies and Allied Matters Act 2020 and the listing requirements of the Nigerian Exchange Ltd. are as follows:

      Director	Number of Shares held at 31 December 2025 & up to 28 February, 2026	Number of shares held at 31 December 2024
      Mr. Bolaji Balogun	Nil	Nil
      Mr. Tobi Adeniyi	11,900	Nil
      Mr. Ben Langat	Nil	Nil
      Mrs. Adenike Ogunlesi	Nil	Nil
      Mrs. Umma Yusuf Aboki	Nil	Nil
      Mr. Michael Ikpoki	Nil	Nil
      Mr. Chika Nwobi	Nil	Nil
      Mr. Ibrahim Sodipe	Nil	Nil
      Ms. Ngozi Edozien	Nil	Nil
      Ms. Uchenna Nwakanma	Nil	Nil

      According to the register of members as at 31 December 2025, the following shareholders of the Company held more than 5% of the issued share capital of the Company. Except as disclosed below, no other shareholder holds 5% and above of the Company's shares.

      Shareholder	Number of shares	Percentage held (%)
      UNILEVER OVERSEAS HOLDINGS BV	4,364,161,812	75.96

      Immediate and Ultimate Parent Companies

      Unilever Overseas Holdings B.V. and Unilever Plc. United Kingdom

      Share Dealing Policy

      In accordance with the Post-Listings Rules of the Nigerian Exchange Limited, Unilever Nigeria Plc. has a share dealing policy which regulates securities transactions by its Directors, Employees and other insiders on terms which are no less exacting than the required standard set out in the Nigerian Exchange Rules. The Policy and Closed Periods are communicated periodically to drive compliance. In respect of the year ended 31 December 2025, the Directors of Unilever Nigeria Plc. hereby confirm that:

      1. A code of conduct regarding securities transactions by all Directors has been adopted by the Company.

      2. Specific enquiry of all Directors has been made during the reporting period and there is no incidence of non-compliance with the listing rules of the Nigerian Exchange Ltd, and Unilever Nigeria's code of conduct, regarding securities transactions by Directors.

Complaints Management Policy Framework

In compliance with the Securities and Exchange Commission Rule Relating to the Complaints Management Framework of the Nigerian Capital Market ("SEC Rules") 2019, Unilever Nigeria Plc. continues to strengthen its complaints management procedure. The Company has a formal Complaints Management Policy by which complaints arising from issues covered under the Investment and Securities Act 2025 (ISA) are registered, promptly resolved and quarterly submission of same is made to the Nigerian Exchange Regulation Ltd.

Unilever Code of Business Principles

Unilever Nigeria Plc. has zero tolerance for illegality, corruption and unethical practices. Accordingly, the Company mandates its employees and business partners to adhere to all applicable laws and regulations, the Unilever Code of Business Principles and Code Policies. Unilever Code of Business Principles (COBP) prescribes a uniform standard of conduct expected of every Unilever operating company, employee and business partner. This helps us put our core values of integrity, respect, responsibility and pioneering into practice.

The COBP covers matters such as Anti-bribery, Conflict of interest, Reporting violations, Fair Competition, External activities, Data Protection, Product Quality and Product Safety amongst others.

In addition to the COBP, there are 20 supporting Code Policies which provide a framework of simple 'Musts' and 'Must Nots' designed to be readily applied by employees in their day-to-day work.

Employees of Unilever Nigeria Plc. go through regular mandatory trainings, annual declarations and focused discussions to reinforce the COBP and Code Policies standards and drive compliance. Compliance with the COBP and Code Policies is mandatory and monitored at the highest level of the organization. Internal and external confidential reporting platforms are available to encourage reporting of breaches and sanctions are consistently applied for these breaches. Unilever has a dedicated Business Integrity (BI) organization which focuses on Code compliance and related matters. The BI organization provides an effective framework which includes clear policies, guidelines and related learning materials, as well as robust procedures and controls to prevent, detect and respond to any inappropriate behaviour. Unilever also makes it mandatory for all its business partners to sign up to compliance with its Responsible Partner Policy or to ethical standards no less than those provided in the Policy.

Human Resource Report

Our human resource drive is to unlock capacity, people potential and an organisation that is cost effective, agile, digitally enabled and future-ready to contribute to our company's growth ambition. Our interventions are targeted to ensure employees capabilities are future-fit, equipped with relevant skills and promote a culture of ownership. To continue to create an advantage for our company and our people, we are on a journey to dial-up automation and flexibility for a digitally enabled organization, ready for today and delivering for tomorrow.

Employment Policy

At Unilever Nigeria, we strongly believe that to win in the marketplace, we must win with people and through people. This unwavering premise continues to guide us in the way we work and culminates in our policies and practices at every stage of our employment cycle. Thus, we strive to remain an equal opportunity employer that is passionate about diversity and inclusivity, mutual respect as well as encouraging vibrant communication and consultation between employees and the leadership team.

Our core values and Code of Business Principles define what we stand for and the framework with which we do business. These are values hinged on professional integrity, attaining and maintaining a pioneering mindset of innovation and continuous improvement, a responsibility to make a positive impact in the society in which we operate, and respect for all our stakeholders. These non-negotiables together with our Unilever behaviours define the kind of people that drive our business; people who Care Deeply, Focus on What Counts, Stay Three Steps Ahead and Deliver with Excellence.

Talent Development

At Unilever, Our Winning Culture embodies four key behaviours - Care deeply, Focus on what counts, Stay three steps ahead and Deliver with Excellence. With the dynamic changes in these uncertain times, it has become increasingly imperative that we continue to leverage on the technology and expertise available to us, to equip our business and employees with all that is needed to win and to grow. We have intensified efforts to empower more agile & flexible employees that care deeply about how consumers experience our brands every day, prioritise maximum performance impact, deliver with excellence and pace, and stay three steps ahead to bring our Purpose-Led, Future-Fit Organization to life, to deliver our growth ambition.

Preparing employees for the Future of Work continued to be at the heart of our learning agenda in 2025. We focused on accelerating skill building across the business and ensured all our people understand the skills they need to focus on to ensure they are future fit.

We have continued to utilise our robust technology enabled systems to help them develop better leadership, professional and general skills to enhance engagement and productivity. In addition to our focus on being Future Fit we continue to drive experiential development through on-the job deliverables as we implement various initiatives to complement other traditional learning methodologies, with our business leaders being at the forefront of this drive.

We rolled out the functional academies across the business in 2025, which ensured that focus is given to core functional capabilities within the organization. These academies were deployed continuously in 2025 through expert and leader-led sessions with persons with the right experiences, which served as a form of coaching. In addition, self-learning remained an enabler to ensuring the realization of the objectives of the functional academies.

Diversity & Inclusion

Unilever Nigeria Plc. is committed to fostering a work environment that champions diversity, inclusion, ongoing learning and equal opportunities for individuals from diverse backgrounds. We are dedicated to ensuring that our employees thrive in a setting that values diversity and upholds principles such as mutual trust, respect for human rights, fair treatment, and equal opportunities, with no tolerance for any form of unlawful discrimination or victimization.

We ensure that everyone is treated with fairness and equity, regardless of factors such as race, age, gender, ethnicity, religion, disability, and more. This commitment extends to all aspects of employment, including recruitment, promotion, training, and retirement, where decisions are based solely on merit.

Our efforts to eliminate barriers encompass various actions, including providing reasonable accommodations to enhance accessibility as needed, ensuring equal pay for equal work, conducting training sessions for employees and line managers on bias and discrimination, targeting the recruitment of underrepresented groups, offering parental support, implementing mentoring and sponsorship programs, fostering an environment where employees feel encouraged to speak up and have a sense of belonging, and organizing events that celebrate diversity.

The gender representation as at end of 2025 was 39% for management employees; and we are confident that with the continued implementation of our strategies and plans, we shall record significant progress on female representation at management level and for total business.

We continue to give focus to the area of disability inclusion, ensuring the workplace is a safe space for all persons, with the basic reasonable accommodation in place for those who need it. Our recruitment platforms remain an avenue where we make bold our commitment to persons with disability and inviting them to apply for available opportunities within the organisation. With the growing focus on neurodiversity, we took the initiative of organizing sessions with our employees, building their knowledge around the subject, and affirming the Company's willingness to support them where possible.

Industrial Relations

Unilever Nigeria Plc continued to place strong emphasis on fostering positive and collaborative industrial relations throughout 2025. This was achieved through sustained engagement at different organizational levels (leadership and senior management) with accredited representatives of the registered trade union, who championed employees' interests that balanced workforce stability with business objectives for 2025. This collaborative approach contributed significantly to the maintenance of a peaceful and productive industrial climate across the organization.

To further strengthen leadership capability in managing industrial relations within a complex operating environment, culture workshops were deployed for all factory employees on Unilever's 4 Behaviours aimed at translating Unilever's Purpose, Values, and Business Strategy into day-to-day behaviours expected of all employees and how work should be done to ensure that results are achieved in a way that is ethical, people-centred, future-oriented, and performance-driven. In addition, 12 Unilever's union executives participated in the 2025 Annual Seminar organized by The National Union of Chemical, Footwear, Rubber, Leather and Non-Metallic Employees (NUCFRLANMPE) on Developing Human Capacity for Enhanced Productivity in the Midst of Economic Hardship.

Employee Engagement

People First' remains the focus of our proposition to employees since 2020. We created a working environment for employees to feel valued by being informed and engaged. Despite the hybrid working structure, we delivered people engagements experiences that are interactive, inclusive, and impactful.

Engagement Highlights of 2025

• We started off the year by supporting and ensuring that employees had a clear line of sight of what is to be delivered in the year, through goal setting clinics.

• The wellbeing engagements for 2025 were the monthly SHE Talks on health and Safety, the Health Week

  and most importantly Healthier-U program used to engage employees with an annual physical health assessment.

• We continued to reinforce our commitment to fostering an inclusive, supportive, and people-centered workplace by commemorating two important global celebrations: International Women's Day and Father's Day. These observances provided meaningful opportunities to celebrate the unique contributions of our employees, promote belonging, and strengthen our organizational culture of care.

• Our IDAN Bonding Moments continued in 2025. Idan Transformation is the transformation culture

  initiative deployed in 2023, to enable Unilever Nigeria Plc to achieve its purpose of brightening everyday life for all, delivering superior brands into every home. The 'Connect Moment' is a bi-weekly meeting where employees gather to discuss business issues, updates, and wins.

• We participated in our annual Univoice survey, conducted in all Unilever markets, to give employees a

  voice and get feedback from them on areas of improvement and continuation. Nigeria had a 95% response rate and the feedback received formed the discussion at a cross functional deep-dive session to gather insights that contributed to the action plan for total Nigeria business to improve employee experiences.

• To support our employees in the face of increased cost of living, the business approved a pay intervention

  which led to an upward review of basic salaries for our employees.

  Our People' continue to be the core of Unilever, we are committed to creating workplace experiences that ensure their wellbeing, drive motivation, and inspire pioneering behaviours at Unilever.

  Employer Branding

  As part of our Future of Work commitment, global Unilever committed to preparing 10 million Youth (age 15-24) across the globe for a meaningful career from 2022 to 2030 through provision of work opportunities, volunteering opportunities and learning/upskilling opportunities. Employer Branding has a key role to play in delivering this ambition, given we are at the forefront of engaging young talent externally, and already attract talent into work opportunities. Moreover, we are in the unique position to combine the engagement of young talent which already takes place, with providing them with learning/upskilling opportunities.

  As part of our Youth commitment, the Future-X Unilever Campus Ambassadors Program (FUCAP) was launched in partnership with UNICEF to reach 3 million Nigerian youth and equip 700,000 of them between the ages of 16 to 24 with the requisite skills to succeed in the workplace of the future by 2026. The FUCAP initiative was launched on UNICEF's Yoma and U-Report Platforms, a youth-centred platform, to ensure an extensive reach of young people in universities and other institutions of higher learning across Nigeria.

  We remain committed to attracting top talent, championing youth employability initiatives that equip the youth, retaining big bet talents and ensuring recognition for best-in-class practices as an employer.

  Safety, Health and Environmental (SHE) Report

  In 2025, Unilever Nigeria Plc reaffirmed its unwavering commitment to Safety, Health, and Environment (SHE), embedding these principles as foundational elements of our operational excellence. Our manufacturing sites in Oregun and Agbara, alongside our Customer Development team (CD), warehouse, outsourced manufacturing, and logistics teams, consistently demonstrated strong SHE performance. This collective effort not only advanced our zero-harm ambition but also promoted employee wellbeing and achieved sustainable business growth.

  Key Achievements:

  We sustained robust SHE management systems, continuously improving through active employee and leadership engagement. Initiatives such as, weekly SHE talks, Safety Behavioural Observations (SBO) and Deep Compliance Audits (DCA) were complemented by targeted campaigns and comprehensive training programs.

  Notable outcomes included:

• A 54% increase in near-miss reporting, reflecting a proactive safety culture.

• A 42% rise in safety behaviour observations, underscoring heightened vigilance

• Zero Total Recordable Frequency Rate (TRFR) across core operations, including factories, Customer Development, warehousing, and logistics.

• Successful execution of emergency drills and compliance audits, with a focus on Unilever's Life-Critical Standards.

• Strengthened collaborations with regulatory agencies.

• Over 90% compliance with training programs, ensuring adherence to Unilever SHE framework standards.

  Incident management remained a priority. In 2025, we recorded one Medical Treatment Case (MTC) related to chemical handling by a third-party contractor. A thorough investigation was conducted, corrective actions implemented, and lessons were shared across the business to prevent recurrence.

  Health

  Our commitment to employee wellbeing was further demonstrated through initiatives like the "Healthier U" program and a dedicated health week, during which 504 employees benefited from nine routine health checks. We achieved 100% completion of all planned Health & Wellbeing activities for the year, reinforcing our holistic approach to workforce health.

  Environment

  Environmental stewardship remained central to our operations. Key achievements included:

• Surpassing our 2025 CO2 emissions.

• Reducing energy consumption by 20.3%.

• Enhancing waste management practices, achieving 45.97% improvement against the 2025 target.

• Improving water management, 7.05% performance gain versus the annual target.

  These results reflect our dedication to minimizing environmental impact and optimizing resource efficiency.

  .

  Incident Management Team (IMT)

  Our IMT, comprising leadership from security, manufacturing, logistics, and commercial functions, played a pivotal role in ensuring business continuity and rapid incident response. Prompt investigations and corrective actions reinforced our zero-harm culture and organizational resilience.

  Strategic Priorities for 2026

  Looking ahead, we are committed to:

• Strengthening SHE training, licensing, and engagement across all organizational levels.

• Advancing digitalization and innovation in SHE practices.

• Enhancing sustainability performance through innovative, cost-efficient strategies and achieving 100% compliance with European Sustainability Reporting Standards (ESRS).

• Driving the Zero Road Safety Strategy to reduce transport-related risks through improved partnerships.

• Elevating electrical, machinery, and contractor safety management, with a focus on chemical handling and high-risk activities.

Quality Report

Quality in Unilever Nigeria Plc remained a source of strength and competitive advantage in 2025, even as we operated within an increasingly complex and uncertain economic environment. Our ambition was clear: to pursue bold goals that reinforce Unilever Nigeria's promise of unmissable superior products and experiences, while safeguarding consumer trust across our portfolio of iconic brands.

At the heart of our performance is a relentless focus on building the right systems, capabilities, and culture to prevent failure before it reaches the marketplace. In 2025, we sustained an industry-leading eight-year record of zero marketplace and regulatory incidents.; an outcome that reflects disciplined execution, strong governance, and deep ownership of quality at every level of the value chain.

We successfully completed the FSSC 22000 Version 6.0 surveillance audit for the Agbara Nutrition Factory, reaffirming our food safety leadership and global standards. Across our external manufacturing and supplier network, targeted capability-building and technical support delivered strong performance and zero supplier-related quality incidents, strengthening resilience beyond our factory walls.

Marketplace quality was further enhanced through focused audits of key distributors and distribution centres nationwide, closing critical gaps, improving storage conditions, and accelerating complaint resolution.

In parallel, we advanced our digital quality agenda by scaling digital tools across operations and introducing data-led solutions for market feedback analysis and warehouse audits, enabling faster, smarter decision-making.

World Quality Week served as a powerful cultural moment, reinforcing quality as a shared responsibility. By celebrating Quality Heroes across our sites, paying surprise visits to loyal consumers and engaging customers and consumers at scale at the Lagos Trade Fair, we strengthened internal pride and external brand superiority.

Looking ahead to 2026, our priorities are unequivocal: deepen brand superiority, accelerate end-to-end digital integration, strengthen partner collaboration with zero tolerance for marketplace failures, and continue creating shared value by delivering safe, trusted, and superior products to Nigerians every day.

100,050 12,650

Unilever Nigeria Plc Distribution Partners & Key Distributors