RNS Trading Statement Q1 2025 TRADING STATEMENT UNILEVER PLC Released 07:00:10 24 April 2025 RNS Number : 9437F Unilever PLC 24 April 2025 Unilever Trading Statement - First Quarter 2025 Resilient performance, full year outlook reconfirmed   First Quarte (unaudited) USG Turnove Unilever 3.0% €14.8b Beauty & Wellbeing 4.1% €3.3b Personal Care 5.1% €3.3b Home Care 0.9% €3.0b Foods 1.6% €3.4b Ice Cream 4.0% €1.8b First Quarter highlights •      Underlying sales growth (USG) of 3.0%, with volume growth of 1.3% and price of 1.7% •      Turnover of €14.8 billion, down (0.9)% including (2.7)% from net disposals •      2025 full year outlook reconfirmed with 3-5% USG and a modest improvement in unde margin •      Productivity programme ahead of plan, delivering an aggregate c.€550 million saving •      Ice Cream separation on track, Capital Markets Day on 9th September ahead of deme •      Ongoing €1.5 billion share buyback to be completed in first half of 2025 Chief Executive Officer statement "We have started the year with a resilient performance. First quarter underlying sales grow strength of our increasingly premium and innovation-led portfolio in developed markets. W in place in some emerging markets to step up growth in the remainder of the year. Heightened global macroeconomic uncertainty is a fact; however the quality of our innova strong investment behind our brands and our improving competitiveness give us confiden our full year plans. Creating desirability at scale for our brands and brilliant in-market execution are the pillar Unilever into a consistently higher performing business. We are moving at pace, confident 2025 and beyond." Fernando Fernandez   Outlook We reconfirm our full year 2025 outlook. We expect underlying sales growth to be within our range of 3% to 5%. This is underpinned innovation pipeline, good momentum in developed markets, and expected improvements China in the second half of the year resulting from the decisive actions we have taken in bo We anticipate a modest improvement in underlying operating margin for the full year, vers Margins in the first and second half will be more balanced than in 2024. The direct impact profitability is expected to be limited and manageable. All this being said, we are conscious that the macroeconomic environment, currency stabil sentiment remain uncertain and we will be agile in adjusting our plans as necessary.   First Quarter Review: Unilever Group   (unaudited) Turnover USG UVG UPG Acquisitions Disposals First Quarter €14.8bn 3.0% 1.3% 1.7% 0.1% (2.8)% Performance Underlying sales growth in the first quarter was 3.0%, driven by both volume and price. As exp conditions were more challenging than in the prior year. Our Power Brands grew at 3.0% with our largest brand Dove, which grew over 8%, as well as Vaseline, Liquid I.V., and Magnum. T Home Care Power Brands that were impacted by market conditions, particularly in Brazil, an strong double-digit comparator in our Unilever Food Solutions business. Beauty & Wellbeing grew underlying sales by 4.1%, with volume growth of 2.5% and price of 1 strong double-digit growth from our Wellbeing brands. Personal Care grew 5.1%, with volum performance of Skin Cleansing and Deodorants in North America. Home Care underlying sal continued strong growth in Europe, fuelled by the rollout of premium innovations, was large market conditions in Latin America. Underlying sales growth of 1.6% in Foods was price-led a Cream grew 4.0%, benefiting from the continued innovation quality and operational improve Developed markets (42% of group turnover) grew underlying sales 4.5%, with volumes of 3.3% was the third consecutive quarter of USG above 4% in developed markets. Volume growth wa strong performances in North America driven by Beauty & Wellbeing and Personal Care, and Home Care. Emerging markets (58% of group turnover) grew underlying sales 2.0%, with volumes of (0.1)% Growth in Latin America slowed to 1.5%, with volume declining (3.0)% as high real interest rat reduce trade stocks. India grew 3% driven by volume growth in Home Care and Beauty & Wel China remained subdued and underlying sales declined high-single digit. Indonesia decline our operational turnaround of the business. We expect both markets to contribute to growth the year. Turnover was €14.8 billion, a decline of (0.9)% compared to the prior year, as underlying sales offset by (2.7)% from disposals net of acquisitions and a (1.1)% negative currency impact. Ice Cream separation We are on track to complete the separation of Ice Cream in the fourth quarter of 2025. The ne The Magnum Ice Cream Company and is expected to operate on a standalone basis from 1s reported as a discontinued operation from the fourth quarter. The Magnum Ice Cream Company will be separated by way of demerger, through listing of th Amsterdam, London and New York, the same three exchanges on which Unilever PLC shares business will be incorporated in the Netherlands and will continue to be headquartered in A demerger, The Magnum Ice Cream Company will hold a Capital Markets Day on 9th Septemb Productivity programme The divisionalisation of our sales force has been put in place during Q1 in all of our top 24 m important step to ensure maximum category focus and accountability. Our productivity programme, launched in 2024 to simplify the business and further evolve ou business model, remains ahead of plan in its delivery of €800 million of savings and a reduct office-based roles. By the end of the first quarter, there was a reduction of around 6,000 FTEs and we expect to r million of the programme's savings by the end of 2025. We continue to expect restructuring c Group turnover in 2025, while reaffirming our guidance that we expect average restructuring of Group turnover over the three-year period from 2024 to 2026. Capital allocation In January 2025, Hindustan Unilever Limited announced it has signed an agreement to acqu led beauty brand Minimalist, as it continues to evolve its Beauty & Wellbeing portfolio towar demand spaces in India. In March 2025, Unilever announced it has agreed the sale of The Vegetarian Butcher, a non-s limited scalability. In April 2025, Unilever acquired the personal care brand Wild, further enhancing our Persona premium and high growth spaces. The quarterly interim dividend for the first quarter is €0.4528, in line with the Q4 2024 dividen The €1.5 billion share buyback programme, announced in February 2025, is well underway a the first half.   Conference Call Following the release of this trading statement on 24 April 2025 at 7:00 AM (UK time), there w AM available on the website www.unilever.com/investor-relations/results-and-presentations A replay of the webcast and the slides of the presentation will be made available after the liv   Upcoming Events   Date Events 31 July 2025 Half year and second quarter results 9 September 2025 The Magnum Ice Cream Company Capital Markets Day 23 October 2025 Third quarter trading statement   First Quarter Review: Business Groups   First Quarter 2025 (unaudited) Turnover USG UV Unilever €14.8bn 3.0% 1.3 Beauty & Wellbeing €3.3bn 4.1% 2.5 Personal Care €3.3bn 5.1% 2.7 Home Care €3.0bn 0.9% 1.0 Foods €3.4bn 1.6% (1.1 Ice Cream €1.8bn 4.0% 1.8 Beauty & Wellbeing (22% of Q1 Group turnover) In Beauty & Wellbeing, we focus on three key priorities: premiumising our core Hair and Skin C emphasising brand superiority; fuelling the growth of our Prestige Beauty and Wellbeing por international expansion; and, continuing to strengthen our competitiveness through innova approach to consumer engagement. (unaudited) Turnover USG UVG UPG Acquisitions Disposals First Quarter €3.3bn 4.1% 2.5% 1.5% 0.3% (1.5)% Beauty & Wellbeing underlying sales grew 4.1% with 2.5% from volume and 1.5% from price. G strong Wellbeing performance, that was partially offset by a slower beauty market. Hair Care was flat with low-single digit price offset by a low-single digit volume decline. Dove supported by its relaunch with cutting edge fibre repair technology, new packaging and des brand, Sunsilk, was flat as it lapped a strong double-digit growth comparator and faced som Nexxus grew strong double-digit, which was supported by the launch of its HY-Volume range market growth remained challenged in its primary market, China. Core Skin Care grew low-single digit driven by low-single digit volume. Both Vaseline and Do double-digit, supported by the rollouts of Vaseline's Pro Derma Ceramide range and Dove's

Americas. Pond's launched its new Ultra Light Biome range across Asia which uses its cera-hy hydrate and strengthen the skin barrier. Wellbeing delivered strong double-digit growth, led by Liquid I.V. and Nutrafol. Liquid I.V. co fast-growing digital channels, supported by successful multi-year innovations such as its sug grew well with double-digit volume driven by a strong performance in digital channels. Prestige Beauty declined low-single digit reflecting the slowdown in the beauty market. Hou continued to grow double-digit while Paula's Choice and Dermalogica declined. K18, a prem brand, grew strong double-digit and it has been included in underlying sales growth from Fe Personal Care (22% of Q1 Group turnover) In Personal Care, we focus on winning with science-led brands that deliver unmissable super across Deodorants, Skin Cleansing, and Oral Care. Our priorities include developing superio year innovation platforms, leveraging partnerships with our customers, and expanding into digital channels. (unaudited) Turnover USG UVG UPG Acquisitions Disposals First Quarter €3.3bn 5.1% 2.7% 2.4% -% (7.1)% Personal Care underlying sales grew 5.1% with 2.7% from volume and 2.4% from price. Dove, which represents c.40% of Personal Care's turnover, grew high-single digit with high-si positive price. This growth was driven by the continued success and rollout of Dove's serum s whole-body deodorants. Dove's performance was also supported by its Super Bowl advertisi Deodorants grew mid-single digit with balanced volume and price. This was led by Dove, wh volume, with strong results in North America. Rexona was flat while Axe declined low-single faced challenges due to their large footprints in Latin America, where there was economic pr quarter. Skin Cleansing grew low-single digit, driven by positive volume and price. Dove led this grow performances in North America and Europe. The brand's success was supported by Dove Me a new range of premium naturals and relaunched its core range with updated packaging an single digit while Lifebuoy declined, due to poor performance in Indonesia, China, and India relaunched with an elevated proposition for skin protection. Oral Care grew mid-single digit led by price. Close-up grew high-single digit, which benefited whitening range across markets in Asia, while Pepsodent grew mid-single digit. Home Care (21% of Q1 Group turnover) In Home Care, we focus on delivering for consumers who want superior products that are sus value. We drive growth through unmissable superiority in our biggest brands, in our key mark We have a resilient business that spans price points and grows the market by premiumising a up to additional benefits. (unaudited) Turnover USG UVG UPG Acquisitions Disposals First Quarter €3.0bn 0.9% 1.0% -% -% (2.5)% Home Care underlying sales grew 0.9% with 1.0% from volume and flat price. Fabric Cleaning declined low-single digit with a low-single digit decline in volume. Growth w challenging market conditions in Brazil, where very high real interest rates led to some retail volumes grew mid-single digit while deflationary conditions resulted in increased promotion reductions in the market. Europe grew high-single digit, driven by the success of multi-year in including the continued expansion of Persil Wonder Wash which introduced new variants, Co entered new markets. Home & Hygiene grew mid-single digit with balanced volume and price. Domestos grew mid grew high-single digit. At the end of the quarter, CIF launched its new Infinite Clean range po break down dirt and grime for up to three days. Fabric Enhancers grew high-single digit driven by high-single digit volume. Comfort continue strong volume as it expanded the successful Botanicals and Elixir ranges launched last year. Foods (23% of Q1 Group turnover) In Foods, our strategy is to deliver consistent, competitive growth by offering unmissably sup our biggest brands. We do this by reaching more consumers and focusing on top dishes and seasons to satisfy consumers' preferences on taste, health and sustainability; while deliverin resilience in our supply chain. (unaudited) Turnover USG UVG UPG Acquisitions Disposals First Quarter €3.4bn 1.6% (1.1)% 2.7% -% (0.5)% Foods underlying sales grew 1.6% with (1.1)% from volume and 2.7% from price. Cooking Aids grew low-single digit driven by price. Knorr grew low-single digit as it continue leadership in Bouillon with new flavours and the relaunch of its core Chicken & Beef powder. Condiments grew low-single digit with positive volume and price. Hellmann's grew mid-sing volume and price. This growth was led by the Flavoured mayo range, now available in 30 ma several new variants were launched, including Ranch in the US and Flamin' Hot in Mexico. In Hellmann's launched a better-for-you avocado oil variant and a new range of Mayo Dips de barbeque favourites. Unilever Food Solutions was flat. In China, Unilever Food Solutions' largest market, sales de strong double-digit growth from the prior year which benefited from the later Chinese New Y growth was mid-single digit, driven by continued customer expansion through Hellmann's fo India Foods declined low-single digit, as growth in Beverages was fully offset by a decline in Ice Cream (12% of Q1 Group turnover) In Ice Cream, we are focused on continuing to strengthen the business in preparation for Ice the end of 2025. We are doing this by developing an exciting product pipeline, designing mo strategies, optimising our supply chain, and building a dedicated sales team globally. The se world-leading business, operating in a highly attractive category with five of the top 10 sellin brands. (unaudited) Turnover USG UVG UPG Acquisitions Disposals First Quarter €1.8bn 4.0% 1.8% 2.2% -% (1.6)% Ice Cream underlying sales grew 4.0% with 1.8% from volume and 2.2% from price. The positiv strong innovations and the continued improvement in our operations as we approach the su In-home Ice Cream (approximately 60% of total Ice Cream sales) delivered mid-single digit g volume and price. Out-of-home Ice Cream (around 40% of total Ice Cream sales) grew low-si Magnum grew mid-single digit supported by the introduction of its Utopia range, featuring n Cherry and Double Hazelnut. Yasso grew double-digit and expanded its Poppables and Bars This quarter saw the rollout and introduction of several premium products, including further Bon Bons into additional European markets, the launch of Cornetto's Disk cones in Europe a Jerry's launch of a larger, shareable size and new Sundae flavours. First Quarter Review: Geographical Areas   First Quarter 2025 (unaudited) Turnover USG UV Unilever €14.8bn 3.0% 1.3 Asia Pacific Africa €6.5bn 2.0% 0.6 The Americas €5.4bn 4.2% 1. Europe €2.9bn 3.2% 3.0   First Quarter 2025 (unaudited) Turnover USG UV Emerging markets €8.6bn 2.0% (0.1 Developed markets €6.2bn 4.5% 3.3 North America €3.3bn 6.2% 4.0 Latin America €2.1bn 1.5% (3.0 Asia Pacific Africa (44% of Q1 Group turnover) Underlying sales growth was 2.0%, with 0.6% from volume and 1.3% from price. India grew 3% with 2% underlying volume growth. Beauty & Wellbeing and Personal Care del growth, led by continued strong growth in Hair Care and price-led growth in Skin Cleansing. in Home Care was driven by strong volume growth and partially offset by negative price. Foo digit due, driven by Horlicks. China declined high-single digit on the back of broad-based market weakness. In this enviro focus on strengthening our business. We are accelerating portfolio premiumisation through Brands and serving emerging channels better, through social-first demand creation and dire At the same time, we have been transforming our go-to-market approach with a tailored cus organisation and digital selling tools for our salesforce and distributors, to serve fast-growin and smaller format stores in lower tier cities. Growth in South East Asia was muted as high-single digit growth in the Philippines was offse Indonesia. We are making progress with the operational turnaround in Indonesia, correcting across channels, resetting stock levels in retail, and addressing long-standing portfolio issue fix, but we continue to expect to see Indonesia and China contribute to growth from the seco Turkey, which remains hyperinflationary, continued to deliver double-digit growth with posit growth. Africa had a more muted start to the year, affected by a decline in its biggest market The Americas (36% of Q1 Group turnover) Underlying sales growth was 4.2%, with 1.1% from volume and 3.1% from price. North America grew 6.2%, with volume up 4.0%, benefiting from the multi-year transformatio portfolio which showed resilience in spite of declining consumer sentiment. Growth was led b of our Wellbeing brands and by premiumisation of our brands in Personal Care. Performance supported by the roll out of our whole body innovation across brands, expanding the deodo underarms. All five Business Groups grew in the first quarter. Latin America grew 1.5%, with 4.6% price and negative volumes of (3.0)%. Economic condition worsened across the region, with very high real interest rates prompting retailers to reduce s As a result, our biggest market Brazil declined slightly, while volume growth in Mexico and A Home Care declined in the quarter. Growth in the other Business Groups was positive and pri Wellbeing and Personal Care lapping strong prior year comparators of double-digit volume Europe (20% of Q1 Group turnover) Underlying sales growth was 3.2%, with volume growth of 3.0% and price of 0.2%. Home Care continued to deliver high-single digit growth supported by its strong innovation Cleaning and Fabric Enhancers. Personal Care and Ice Cream grew mid-single digits, led by v seeing the benefit of operational improvements and distribution gains ahead of the summe slightly amidst weaker consumer demand. By country, Italy and Poland started strongly into the United Kingdom was virtually flat against a strong prior year comparator.   Segment Information - Business Groups   (unaudited) First Quarter Beauty & Wellbeing Personal Care Home Care Foods Turnover (€ million) 2024 3,187 3,409 3,191 3,38 2025 3,280 3,260 3,057 3,39 Change (%) 2.9 (4.4) (4.2) 0. Impact of: Acquisitions (%) 0.3 - - Disposals (%) (1.5) (7.1) (2.5) (0.5 Currency-related items (%), of which: 0.1 (2.1) (2.6) (0.9 Exchange rates changes (%) (0.6) (2.5) (3.1) (1.5 Extreme price growth in hyperinflationary markets* 0.7 0.5 0.5 0. Underlying sales growth (%) 4.1 5.1 0.9 1. Price* (%) 1.5 2.4 - 2. Volume (%) 2.5 2.7 1.0 (1.1 * Underlying price growth in excess of 26% per year in hyperinflationary economies has been excluded when calculating above, and an equal and opposite amount is shown as extreme price growth in hyperinflationary markets. Turnover growth is made up of distinct individual growth components namely underlying sal acquisitions and disposals. Turnover growth is arrived at by multiplying these individual com compounded basis as there is a currency impact on each of the other components. Accordin more than just the sum of the individual components.   Segment Information - Geographical Areas   (unaudited) First Quarter Asia Pacific Africa The Americas Turnover (€ million) 2024 6,612 5,502 2025 6,486 5,448 Change (%) (1.9) (1.0) Impact of: Acquisitions (%) - 0.2

Disposals (%) (3.5) (2.3) Currency-related items (%), of which: (0.3) (3.0) Exchange rates changes (%) (1.0) (4.0) Extreme price growth in hyperinflationary markets* 0.6 1.1 Underlying sales growth (%) 2.0 4.2 Price* (%) 1.3 3.1 Volume (%) 0.6 1.1 * Underlying price growth in excess of 26% per year in hyperinflationary economies has been excluded when calculating above, and an equal and opposite amount is shown as extreme price growth in hyperinflationary markets.   Dividends The Board has declared a quarterly interim dividend for Q1 2025 of €0.4528 per Unilever PLC per Unilever PLC ordinary share at the applicable exchange rate issued by WM/Reuters on 22 The following amounts will be paid in respect of this quarterly interim dividend on the releva Per Unilever PLC ordinary share (traded on the London Stock Exchange): Per Unilever PLC ordinary share (traded on Euronext in Amsterdam): Per Unilever PLC American Depositary Receipt: The pound sterling and US dollar amounts above have been determined using the applicab by WM/Reuters on 22 April 2025. US dollar cheques for the quarterly interim dividend will be mailed on 13 June 2025 to holder business on 16 May 2025. The quarterly dividend calendar for the remainder of 2025 will be as follows: Announcement Date Ex-dividend Date for Ordinary Shares Ex-dividend Date for ADRs Record Date Last Date Elect Q1 2025 Dividend 24 April 2025 15 May 2025 16 May 2025 16 May 2025 22 May Q2 2025 Dividend 31 July 2025 14 August 2025 15 August 2025 15 August 2025 21 Augu Q3 2025 Dividend 23 October 2025 06 November 2025 07 November 2025 07 November 2025 14 Nove 202     Non-GAAP measures In our financial reporting we use certain measures that are not defined by generally accepte (GAAP) such as IFRS. We believe this information, along with comparable GAAP measuremen because it provides a basis for measuring our operating performance, and our ability to retir business opportunities. Our management uses these financial measures, along with the mo GAAP financial measures, in evaluating our operating performance and value creation. Non- should not be considered in isolation from, or as a substitute for, financial information prese GAAP. Wherever appropriate and practical, we provide reconciliations to relevant GAAP mea measures used in this announcement are underlying sales growth, underlying volume growt growth (see below). Underlying sales growth (USG) Underlying sales growth (USG) refers to the increase in turnover for the period, excluding any resulting from acquisitions, disposals, changes in currency and price growth in excess of 26% economies. Inflation of 26% per year compounded over three years is one of the key indicato whether an economy is deemed to be hyperinflationary. We believe this measure provides va information on the underlying sales performance of the business and is a key measure used acquisitions and disposals is excluded from USG for a period of 12 calendar months from the Turnover from acquired brands that are launched in countries where they were not previousl as such turnover is more attributable to our existing sales and distribution network than the reconciliation of changes in the GAAP measure turnover to USG is provided on page 8. Underlying price growth (UPG) Underlying price growth (UPG) is part of USG and means, for the applicable period, the incre attributable to changes in prices during the period. UPG therefore excludes the impact to US products sold; and (ii) the composition of products sold during the period. In determining cha the impact of price growth in excess of 26% per year in hyperinflationary economies as expla measures and the related turnover GAAP measure are set out on page 8. Underlying volume growth (UVG) Underlying volume growth (UVG) is part of USG and means, for the applicable period, the inc period calculated as the sum of (i) the increase in turnover attributable to the volume of prod increase in turnover attributable to the composition of products sold during such period. UVG impact on USG due to changes in prices. The measures and the related turnover GAAP measu   Cautionary Statement This announcement may contain forward-looking statements within the meaning of the secu jurisdictions, including 'forward-looking statements' within the meaning of the United States Litigation Reform Act of 1995. All statements other than statements of historical fact are, or m forward-looking statements. Words and terminology such as 'will', 'aim', 'expects', 'anticipate 'believes', 'vision', 'ambition', 'target', 'goal', 'plan', 'potential', 'work towards', 'may', 'mileston 'probably', 'project', 'risk', 'continue', 'should', 'would be', 'seeks', or the negative of these term expressions of future performance, results, actions or events, and their negatives, are intend forward-looking statements. Forward-looking statements also include, but are not limited to information regarding Unilever's emissions reduction and other sustainability-related target sustainability matters (including actions, potential impacts and risks and opportunities asso Forward-looking statements can be made in writing but also may be made verbally by direc employees of the Unilever Group (the "Group") (including during management presentations announcement. These forward-looking statements are based upon current expectations and anticipated developments and other factors affecting the Group. They are not historical fact guarantees of future performance or outcomes. All forward-looking statements contained in expressly qualified in their entirety by the cautionary statements contained in this section. Re undue reliance on forward-looking statements. Because these forward-looking statements involve known and unknown risks and uncertaint may be beyond the Group's control, there are important factors that could cause actual resu from those expressed or implied by these forward-looking statements. Among other risks an material or principal factors which could cause actual results to differ materially from the fo statements expressed in this announcement are: Unilever's global brands not meeting consu Unilever's ability to innovate and remain competitive; Unilever's investment choices in its por effect of climate change on Unilever's business; Unilever's ability to find sustainable solution significant changes or deterioration in customer relationships; the recruitment and retention disruptions in Unilever's supply chain and distribution; increases or volatility in the cost of raw commodities; the production of safe and high-quality products; secure and reliable IT infrast acquisitions, divestitures and business transformation projects, including the proposed sepa business; economic, social and political risks and natural disasters; financial risks; failure to m standards; and managing regulatory, tax and legal matters and practices with regard to the application thereof and emerging and developing ESG reporting standards including differe of climate and sustainability policies in the regions where the Group operates. The forward-looking statements are based on our beliefs, assumptions and expectations of taking into account all information currently available to us. Forward-looking statements are events. These beliefs, assumptions and expectations can change as a result of many possibl all of which are known to us. If a change occurs, our business, financial condition, liquidity an may vary materially from those expressed in our forward-looking statements. The forward-looking statements speak only as of the date of this announcement. Except as r applicable law or regulation, the Group expressly disclaims any intention, obligation or und publicly any updates or revisions to any forward-looking statements contained herein to refl Group's expectations with regard thereto or any change in events, conditions or circumstanc statement is based. New risks and uncertainties arise over time, and it is not possible for us t how they may affect us. In addition, we cannot assess the impact of each factor on our busin which any factor, or combination of factors, may cause actual events, to differ materially fro forward-looking statements. Further details of potential risks and uncertainties affecting the the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securit Commission, including in the Annual Report on Form 20-F 2024 and the Unilever Annual Repo   Enquiries   Media: Media Relations Team Investors: Investor Relations Team UK +44 78 2527 3767 press-office.london@unilever.com investor.relations@unilever.com or +44 77 7999 9683 jonathan.sibun@teneo.com NL +31 63 029 6394 willemijn.storimans@unilever.com or +31 61 500 8293 fleur-van.bruggen@unilever.com After the conference call on 24 April 2025 at 8:00 AM (UK time), the webcast of the presentati www.unilever.com/investor-relations/results-and-presentations/latest-results. 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