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2008 CAGNY20th February 2008

Jim LawrenceChief Financial Officer

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Safe harbour statement

This presentation may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. Words

such as 'expects', 'anticipates', 'intends' or the negative of these terms and other similar expressions of future performance or results, including financial objectives to 2010, and their negatives are intended to identify such forward-looking statements. These forward-looking

statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from

those expressed or implied by these forward-looking statements, including, among others, competitive pricing and activities, consumption levels, costs, the ability to maintain and manage key customer relationships and supply chain sources, currency values, interest rates, the ability to integrate acquisitions and complete planned divestitures, physical risks, environmental risks,

the ability to manage regulatory, tax and legal matters and resolve pending matters within current estimates, legislative, fiscal and regulatory developments, political, economic and social

conditions in the geographic markets where the Group operates and new or changed priorities of the Boards. Further details of potential risks and uncertainties affecting the Group are described

in the Group's filings with the London Stock Exchange, Euronext Amsterdam and the US Securities and Exchange Commission, including the Annual Report & Accounts on Form 20-F.

These forward-looking statements speak only as of the date of this presentation

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Agenda

•Business Overview

•Growth Strategy

•Developing & Emerging Markets

•Innovation

•Business Performance

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Colgate

Danone

L'Oreal

Coca-Cola Co

Kraft

PepsiCo

Unilever

P&G

Nestle

A leading global consumer company

Unilever’s market capitalisation: c. $90bn

$ sales* *Based on latest reported results

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Operating in over 100 countries

Americas | $18bn | 33%

2007 Turnover $55bn

Europe | $21bn | 38%

Asia Africa | $16bn | 29%

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Personal Care$15.4bn

Ice Cream & Beverages

$10.4bn

Savoury, Dressings &

Spreads$19.1bn

Categories that meet everyday needs

Home Care$9.9bn

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Laundry

Household Cleaning

Daily Hair Care

Oral Care

Strong category positions

Savoury

Dressings

Ice Cream

Deodorants

Spreads

TeaMass Skin

World Number 1

World Number 2

Local Strength

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Big global brands

13 “billion dollar brands”

Top 25 brands = ¾ of Unilever’s sales

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Group Chief Executive

PresidentEurope

PresidentAsia Africa

PresidentFoods

PresidentHPC

President Americas

CHRO CFO

A global management team

Non-Executive Chairman

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Local roots Global scale

Local roots with global scale

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Agenda

•Business Overview

•Growth Strategy

•Developing & Emerging Markets

• Innovation

•Business Performance

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Category led portfolio strategy

• Businesses that are attractive

• Businesses where we are already advantaged

• Businesses that exploit our strength in D&E

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Unilever’s strategic priorities

PersonalCare

Developing & Emerging

Markets (D&E)

Vitality

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Shaping the portfolio

Disposal

UnderwayNA

Laundry

Indonesia

Fruit Drinks

Russia

Ice Cream

Disposals completed/ announced Brazil Spreads Brands US Seasonings France Cheese

JV Extended Global

RTD Tea

Acquisitions

In the last 12 months:

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Inmarko: the leading ice cream brand in Russia

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Streamlined management

0

200

400

600

800

1000

1200

2005 2007VP SVP and above

• New executive team

• 50% of “top 100” are new appointments (<3 years)

• Key external appointments

-42%

-40%

2007 vs 2005

Management headcount

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A simpler organisation

• Fewer reporting units

• Global category teams

• Re-aligned R&D function

> 200

Before 2005 2007

c. 40

2010+

20 - 25

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Reduced cost and asset base

050

100150200250300

2001 2002 2003 2004 2005 2006 2007

Excluding plantations Plantations

000’s of employeesBy 2010:

• 50-60 manufacturing sites closed or streamlined

• €1.5bn savings p.a.

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Agenda

•Business Overview

•Growth Strategy

•Developing & Emerging Markets

• Innovation

•Business Performance

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0.5

2.6

2.6

Have lots

Haves

Not yets

Population in 2007(billions)

The D&E opportunity

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Annual per capita consumption (US$)

Source: Euromonitor 2006

Detergents Shampoo

The opportunity in our categories

0.3 1.0 1.0

6.06.7

India

China

Indon

esia

Brazil

USA

1.4 2.2 1.9

12.1

22.9

India

China

Indon

esia

Brazil

USA

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Non packaged food78%

Packaged food22%

A big foods opportunity

Source: Unilever estimates% of Foods market in Asia Africa

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A major driver of Unilever’s growth

Western Europe38%

North America

23%D&E36%

% 2004 Sales % 2007 Sales

D&E44%

North America

21%

Western Europe32%

D&E underlying sales growth c. 8% p.a. since early 1990s

Other developed 3%

Other developed 3%

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D&E growth is profitable

Developed D&E D&E excl.Russia & China

2007 Operating margin before RDIs*

Unileveraverage

*Restructuring, Disposals, One-off Items

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Our heritage and local expertise mean that D&E is in our DNA

Unilever’s local roots

Local roots

• Understanding of the local consumer

• Brands and products across a wide range of income levels

• Critical mass on the ground

• Corporate reputation with local stakeholders and talent pool

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India

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Unrivalled scale in IndiaUni

leve

r*

Nes

tle

Brita

nnia PG

Dab

ur

Mar

ico

Colg

ate

GSK

Tata

Tea

God

rej C

P

$3.0bn

*2007 Unilever India Turnover

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Unilever’s strategy applied in India

One Company

Leading positions

High growth spaces

2000 2004

Chemicals

Agriculture

Plantations

Diversey Lever

DIVESTED

Non core brands

Oils & Fats

Non Core

Business

35 PowerfulBrands

Industries Categories Brands

Non Core Processes Outsourced

One Sales Force

Global Innovation; Local Activation

One Top Team

110 Brands

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India Laundry: global category, local execution

Have

Lots

Haves

Not Yets

Source: AC Nielsen retail panel; Euromonitor

$2.2bnMarket Size38%Unilever share

3x

Current

Relative Market Share

Laundry

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India’s evolving trade structure

From General trade…… towards Modern trade

2007: 95% 2025: 75% 2007: 5% 2025: 25%

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Strong market shares in the modern trade

Source : AC Nielsen

0102030405060708090

100

Deterg

ent c

akes

Wash

ing pow

ders

Hand dish

wash

Toile

t soaps

Hair w

ash

Toothpas

te

Skin

Tea

Modern trade General trade

Value market share %

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FMCG Underlying sales growth %

Unilever India underlying sales growth

0.0%0.7%

11.3%10.3%

12.8%

-(0.1)%

-5%

0%

5%

10%

15%

2002 2003 2004 2005 2006 2007

USG

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China

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Investing to win in China

• Priority status: 5 year growth plan

• ‘One Unilever’ organisation

• New leadership team

• Increased innovation capability in Shanghai (+100 FTEs)

• Step-up in marketing investment

• Priority allocation of talent

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Learning from Indonesia: Micro-marketing

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In 200 stores

110% increase in uptake

60% sales growth

8% market share *

*Source: AC Nielsen

Lux body wash in South China

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Doubling the China business in 3 years

2004 2005 2006 2007

Unilever sales in China$1bn

$0.5bn

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Agenda

•Business Overview

•Growth Strategy

•Developing & Emerging Markets

•Innovation

•Business Performance

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Innovation driving growth

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Rapid roll-out: Clear

Complete antidandruff and scalp care regime

Centrally developed and launched simultaneously across 7 countries

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Rapid roll-out: Small & Mighty

A revolutionary concentrated laundry detergent

Cleans a whole wash-load with just

one small capful

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Strategy

Proprietary technology: Pond’s Age Miracle

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Proprietary technology: Hellmann’s Light

Delicious light mayonnaise with

only 5% fatWith unique citrus

fibre technology

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Transfer of mixes: Axe in Japan

45=

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Non Users 80 11 7 6

Users 20 89 93 95

Deos Oral Hair Soap

3bn non-users in Asia$2bn OPPORTUNITY!

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Transfer of mixes: half the world doesn’t use a deo

0

50

100

150

200

250

$mn

Russian deo market 99-05

It’s our marketto grow…

…and only 7 out of 100 Asians use Deos

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Vitality: Lipton

Slimming teaTea can do that

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Knorr convenient thick soup

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99% of all soup consumption in China is in-homeKnorr Soup produces the taste and nutrition of thick soup in

instant soup time

Knorr convenient thick soup

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Raising productivity in marketing spend

Knorr leveraging global scale

Active innovation projects TV productions

* Estimate

*0

50

100

150

200

250

300

2005 2006 2007 2008 *0

20

40

60

80

100

120

140

2005 2006 2007 2008

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Agenda

•Business Overview

•Growth Strategy

•Developing & Emerging Markets

• Innovation

•Business Performance

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Key Financials

* Restructuring, Disposals and one-off Items

€1.32€1.19Earnings per share (continuing)

+5.5%+3.8%Underlying sales growth(3.1)%+0.3%Exchange rates

(0.8)%(0.7)%Acquisition / Disposal

+12%+11%Change

+20 bps(30) bpsUnderlying margin change(1.4)%(0.6)%Including RDI*

13.1%13.6%Operating Margin

+1.4%+3.2%Change

€40.2bn€39.6bnTurnover

20072006

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3rd year of accelerating growth

0.4%

5.5%

3.8%

3.1%

0%

1%

2%

3%

4%

5%

6%

2004 2005 2006 2007

USG

*

*underlying sales growth

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Broad based growth

Asia Africa Europe

AmericasSavoury,

Dressings & Spreads

Ice Cream & Beverages

Personal Care

Home Care

CategoriesRegions

USG +11.1% USG +2.8%

USG +4.1% USG +5.0%

USG +6.7%

€7.3bnUSG +4.2%€11.5bn €15.2bn

€13.4bn

USG +6.1%€7.6bn

€11.3bn

€14.0bn

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Investing in competitiveness

-100

-50

0

50

100

150

2005 2006 2007

bps

A&P change Underlying change in operating margin*

*Before restructuring, disposals and one-off items

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Leveraging global buying

0

100

200

300

400

500

600

2005 2006 2007

Annual savings €mn

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€1bn savings in 2007

Buying

€0.5bn

Restructuring

€0.3bn

Other

€0.2bn

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Accelerated restructuring

€1.5bn p.a. savings by 2010

€0.3bn savings in 2007

€1.5bn

• 50 – 60 sites closed or streamlined

• 20,000 headcount reduction

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Use of cash

• Investment in the business

– Capex c. 2.5% of turnover

– Restructuring costs of c. €1bn p.a. 2007-2009

• Bolt-on acquisitions

• Returning cash to shareholders

– Dividends

– Share buy-back

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Returning cash to shareholders

0

1

2

3

4

2001 2002 2003 2004 2005 2006 2007

Cash

to

shar

ehol

ders

(€b

n)

Dividends Share buyback One-off dividend

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Our goals

• 2010 goals– Operating margin > 15%– Consistent, competitive growth at 3-5% p.a.

• In 2008– Underlying sales growth towards top end of 3-5% range– Further underlying improvement in operating margin

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Business environment in 2008

• Growth of Unilever’s markets c. 4-5%

• Continued pressure form commodity costs until

well into 2008

• Unilever well placed to respond to challenges and

opportunities.

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Business priorities

1. Growth at least in line with markets

2. Improve margins

3. Invest selectively to gain market

share

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