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This is a PDF version of the Unilever Annual Report and Accounts 2016 and is an exact copy of the printed document provided to Unilevers shareholders.

Certain sections of the Unilever Annual Report and Accounts 2016 have been audited. These are on pages 84 to 154, and those parts noted as audited within the Directors Remuneration Report on pages 48 to 77.

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MAKING SUSTAINABLE LIVING

COMMONPLACE

UNILEVER ANNUAL REPORT AND ACCOUNTS 2016

UNILEVER ANNUAL REPORT AND ACCOUNTS 2016 This document is made up of the Strategic Report, the Governance Report, the Financial Statements and Notes, and Additional Information for US Listing Purposes.

Our Strategic Report, pages 1 to 28, contains information about us, how we create value and how we run our business. It includes our strategy, business model, market outlook and key performance indicators, as well as our approach to sustainability and risk. The Strategic Report is only part of the Annual Report and Accounts 2016. The Strategic Report has been approved by the Boards and signed on their behalf by Tonia Lovell Group Secretary.

Our Governance Report, pages 29 to 77 contains detailed corporate governance information, how we mitigate risk, our Committee reports and how we remunerate our Directors.

Our Financial Statements and Notes are on pages 78 to 154.

Pages 1 to 156 constitute the Unilever Annual Report and Accounts 2016 for UK and Dutch purposes, which we may also refer to as this Annual Report and Accounts throughout this document.

The Directors Report of Unilever PLC (PLC) on pages 29 to 47,

(branch disclosure) and 150 and 154 (Post balance sheet event) has been approved by the PLC Board and signed on its behalf by Tonia Lovell Group Secretary.

78 (Statement of Directors responsibilities), 104 (Dividends on ordinary capital), 115 to 120 (Treasury Risk Management), 143

The Strategic Report, together with the Governance Report, constitutes the report of the Directors within the meaning of Section 2:391 of the Dutch Civil Code and has been approved by the Unilever N.V. (NV) Board and signed on its behalf by Tonia Lovell Group Secretary.

Pages 157 to 178 are included as Additional Information for US Listing Purposes.

ONLINE You can find more information about Unilever online at www.unilever.com. For further information on the Unilever Sustainable Living Plan (USLP) visit www.unilever.com/sustainable-living

The Unilever Annual Report and Accounts 2016 (and the Additional Information for US Listing Purposes) along with other relevant documents can be downloaded at www.unilever.com/ara2016/downloads

CONTENTS About us ...........................................................................................1

Our purpose .....................................................................................1

Chairmans statement .....................................................................2

Board of Directors............................................................................3

Chief Executive Officers review ......................................................4

Unilever Leadership Executive (ULE) ..............................................5

Our markets .....................................................................................6

Our business model .........................................................................8

Our strategic focus.........................................................................10

Our performance............................................................................12

Delivering value for our stakeholders ...........................................14

Our consumers..............................................................................14

Society............................................................................................16

Our people .....................................................................................20

Our shareholders ..........................................................................22

Financial Review ............................................................................23

Governance ..................................................................................29

Corporate Governance..............................................................29

Risks.........................................................................................36

Report of the Audit Committee .................................................42

Report of the Corporate Responsibility Committee...................44

Report of the Nominating and Corporate Governance Committee ...........................................46

Directors Remuneration Report ..............................................48

Financial Statements ...................................................................78

Statement of Directors responsibilities ...................................78

Independent auditors reports ..................................................79

Consolidated financial statements ...........................................84

Consolidated income statement ...........................................84

Consolidated statement of comprehensive income...............84

Consolidated statement of changes in equity........................85

Consolidated balance sheet ..................................................86

Consolidated cash flow statement ........................................87

Notes to the consolidated financial statements........................88

Company accounts Unilever N.V. ........................................144

Notes to the Company accounts Unilever N.V. ....................146

Company accounts Unilever PLC .........................................151

Notes to the Company accounts Unilever PLC.....................152

Shareholder Information............................................................155

Index ..........................................................................................156

Additional Information for US Listing Purposes ........................157

www.unilever.com/ara2016/downloadswww.unilever.com/sustainable-livinghttp:www.unilever.com

ABOUT US OUR PURPOSE

UNILEVER IS ONE OF THE WORLDS BEST KNOWN CONSUMER GOODS COMPANIES. EVERY DAY, 2.5 BILLION PEOPLE USE OUR PRODUCTS TO FEEL GOOD, LOOK GOOD AND GET MORE OUT OF LIFE.

We are truly global, operating in more than 100 countries, selling our products in more than 190 countries and employing around 169,000 people.

Unilever is organised in four categories, each with a clearly defined strategy and portfolio of brands. The largest is Personal Care, then Foods followed by Home Care and Refreshment. Each one is discussed in more detail on pages 14 and 15.

We have 13 brands with sales of 1 billion or more:

1. Axe 2. Dirt is Good (e.g. Omo) 3. Dove 4. Family Goodness (e.g. Rama) 5. Heartbrand (e.g. Walls) 6. Hellmanns 7. Knorr 8. Lipton 9. Lux 10. Magnum 11. Rexona 12. Sunsilk 13. Surf

Our business model is detailed on pages 8 and 9. It places sustainability at its heart through the Unilever Sustainable Living Plan (USLP) which spans our entire value chain and involves a wide range of stakeholders.

Our brands are household names but we constantly assess our portfolio to ensure the right balance and resilience. We dispose of brands that no longer fit our strategy while acquiring those that give access to new segments and channels. We have around 400 brands allowing us to operate both globally and locally and this scale offers efficiencies and lower costs while reducing risk and mitigating volatility.

In 2015 we had 12 Sustainable Living brands which grew 30% faster than the rest of the business (Knorr, Dove, Dirt is Good e.g. Omo, Lipton, Hellmanns, Smile e.g. Signal/Pepsodent, Lifebuoy, Ben & Jerrys, Radiant, Breyers, Heart Health and Domestos). In 2016 these brands grew 40% faster than the rest and delivered nearly half of Unilevers growth. They are brands which combine a strong purpose delivering a social or environmental benefit, with products contributing to at least one of our USLP goals. Our Sustainable Living brands for 2016 will be announced in May 2017 once the analysis is complete.

UNILEVER HAS A CLEAR PURPOSE TO MAKE SUSTAINABLE LIVING