Related party transactions

12 Months Ended

Dec. 31, 2025

Disclosure of transactions between related parties [abstract]

Related party transactions

23. Related party transactions

A related party is a person or entity that is related to the Group. These include both people and entities that have, or are subject to, the influence or control of the

Group.

Joint ventures

The following related party balances existed with joint venture businesses at 31 December:

Related party balances	€ million Total 2025	€ million Total 2024
Sales to joint ventures	1,018	1,168
Purchases from joint ventures	128	110
Receivables from joint ventures	90	112
Payables to joint ventures	149	111
Loans to joint ventures	205	227
Royalties and service fees	23	9

Significant joint ventures are Unilever FIMA LDA and Gallo Worldwide LDA in Portugal, Binzagr Unilever Distribution in the Middle East, the Pepsi Lipton Tea

Partnership in the US and Pepsi Lipton International Ltd for the rest of the world.

All transactions between the group and related parties are conducted on arm’s length basis.

Associates

There are no trading balances due to or from associates.