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Mike Poteshman Executive VP & CFO June 2015

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Page 1: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

Mike Poteshman

Executive VP & CFO

June 2015

Page 2: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

2

FORWARD LOOKING STATEMENTS

We are making some forward looking statements today that use words

like “outlook” or “target” or similar predictive words. Such forward

looking statements involve risks and uncertainties detailed in our recent

periodic reports as filed in accordance with the Securities and

Exchange Act of 1934. These risks and uncertainties may cause actual

results to differ materially from our statements today.

Visit www.tupperwarebrands.com or download our Investor Relations app

Page 3: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

WHY INVEST

Our Business Model

is our Competitive

Advantage

Opportunities for

Above Average

Growth

Diversified Portfolio

for Sustainable

Performance

Significant

Return of Capital to

Shareholders

Page 4: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

4

Headquarters in Sao Paulo

77 Distributors

182 Team Leaders (Sub-Distributors)

10,500 Unit Managers

250,000+ Total Sales Force

Plant in Rio de Janeiro

Market Coverage

77 Distributors

Plant Sales

Office

WE’RE A MULTI-LOCAL BUSINESS

Brazil Country Structure

*Sales Force counts as of the end 2014

Page 5: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

Average Brazil

Distributor has about

2.4 Team Leaders

(Sub-Distributors)

135 Managers

3,200 Consultants

Sales by Distributor

varies by geography

DISTRIBUTOR STRUCTURE BRAZIL

5 *Sales Force counts as of the end 2014

Page 6: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

6

LEVERS FOR SUSTAINABLE GROWTH POWERFUL BUSINESS MODEL

Relationship

Based

Selling

Method

Direct to

Consumer

Fundamentals

Brand &

Product

Real

Opportunity

Page 7: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

7

POWER OF OUR BRAND

The well known, aspirational Tupperware

brand along with the channel is powerful

because:

• Relatively low product line competition

• In our category, low channel competition

• Allows maintenance of a strong gross

margin along with innovation & unique

features & benefits

• Ability to sell flanker & subcategories

Page 8: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

INNOVATIVE & DEMONSTRABLE PRODUCT

COOKWARE &

CUTLERY

BAKING &

OVENWARE

KITCHEN

TOOLS &

GADGETS

MICROWAVE

WATER &

ON THE GO

TABLETOP &

SERVING KITCHEN

PREP

FOOD CONSERVATION

Approximately

25% of Sales

each year

comes from

new products

introduced in

the last two

years

Around

100 new

concepts

normally in the

innovation

pipeline

8

Page 9: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

9

A group selling situation or party is

held every

1.3 sec

Rent Advertising

RELATIONSHIP-BASED SELLING THE POWER OF THE DEMONSTRATION

TRADITIONAL

DEMONSTRATION

COOKING CLASS

DEMONSTRATION

Page 10: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

Personal Sales Opportunity Career Opportunity

10

Part-time

Extra Income

Full-time

Career

Demonstrator

Unit Manager

Team Leader (Sub-Distributor)

Distributor

REAL & COMPELLING SALES FORCE OPPORTUNITY

Page 11: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

• Training

• Recognition

• Competition

11

ENABLING SUCCESS THROUGH DIRECT TO CONSUMER FUNDAMENTALS

Page 12: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

12

OUR BUSINESS MODEL OFTEN OFFSETS NEGATIVE EXTERNALS

• Earnings Opportunity resonates in a softer

employment environment

Unemployment

• Predominately a Push versus a Pull

business

• Messages through our Sales Force around

saving money -- tips to avoid food

waste/spoilage, promote cook at home, store

bulk purchases

Difficult

Consumer Spending

Environment

• We own the shelf

• Price with consumer inflation Inflation

Page 13: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

28%

33% 13%

11%

15% 36%

20%

15%

24%

5%

13

2014 SEGMENT SALES AS % OF TOTAL

DIVERSIFIED GLOBAL PORTFOLIO

2006 SEGMENT SALES AS % OF TOTAL

Emerging Markets 44% of Sales Emerging Markets: 66% of Sales, 12.7% CAGR*

Established Market: 34% of Sales, (1.6)% CAGR*

*CAGR from 2006 to 2014

Page 14: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

14

NINE MARKETS OVER $100M

Brazil

Fuller Mexico

Indonesia

$200M +

China

France

Germany

Malaysia & Singapore

TW Mexico

TW U.S. & Canada

$100M +

DIVERSIFIED GLOBAL PORTFOLIO

Page 15: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

15

Key Sales & Profit Currencies

• Euro

• Indonesian rupiah

• Mexican peso

• Brazilian real

• Malaysian ringgit

• Chinese renminbi

92% of 2014 sales and 100% of net

profit from outside the U.S.

First

Tie

r

Second

Tie

r BASKET OF GLOBAL CURRENCIES

Page 16: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

16

RECRUIT

MORE

SELLERS

MORE

ACTIVE &

PRODUCTIVE

STAY

LONGER

GROWTH OPPORTUNITIES: STRENGTHEN THE CORE

Page 17: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

• Home to 85% of the world’s population & 66% of sales in 2014

• Growing Middle Class

• Lower Employment of Women outside the home

• Direct Sales Channel Growth of 4-5% annually through 2019*

17

GROWTH OPPORTUNITIES: POWER OF THE EMERGING MARKETS

*Source: Euromonitor 17

Page 18: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

EXTEND OUR REACH

Technology Millennials Emerging

Middle

Class

Urbanization 3rd

Billion

OUR GROWING ADDRESSABLE MARKET

Connected

Communities

18

Page 19: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

19

Party happens around the world

every 1.3 Seconds

Predominately a Push Business

built on Relationships

OUR CORE WORKS

CREATE MORE OPPORTUNITY FOR

SALES FORCE & REACH MORE CONSUMERS

Page 20: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

G U I D I N G P R I N C I P L E S

RESPECT SALES FORCE IN THE VALUE CHAIN

INSPIRE & NURTURE RELATIONSHIPS

PROMOTE DEMONSTRATION BASED SELLING

20

Page 21: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

SHIFTING OUR MINDSET

FROM

REACH ONLY

THROUGH

PARTY & BROCHURE

TO

EXTENDING REACH TO

RELATIONSHIPS

BEYOND THE PARTY

21

Page 22: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

Tupperware Experience

Centers

Party Plus

Urban Penetration

Model

Group Presentation Selling & 1-1 Demonstration

Social Media

Websites

e-Commerce

Digital Tools

Brand Ambassadors

Communities

22

Page 23: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

FULLER MEXICO TABLET & MOBILE APP

INCREASING PRODUCTIVITY

THROUGH DIGITAL TOOLS

Mobile Office for

Field Managers

• Real time sales

statistics

• Ability to push

information directly

versus flowing through

Regional Directors

Sales Force App

• Access online

brochures

• Ability to enter orders

through App versus

turning in paper

orders for Field

Managers to enter

23

Page 24: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

NEW INITIATIVES TO

EXTEND OUR REACH

Close to consumers with updated look & feel to increase brand awareness

Drives contact with Sales Force & consumers

Urban penetration model

Party PLUS a few more

Test phase in TW U.S.

Early results:

• 1 – 3 additional guests on average

• guests spend 2x the typical online order

24

Page 25: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

JOIN RECEIVE KIT

& ONBOARD INACTIVITY

INCONSISTENT EFFORTS TO RE-ENGAGE

LOSE THEM

25

Page 26: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

JOIN RECEIVE KIT

& ONBOARD INACTIVITY

CONSISTENT DIGITAL RE-ENGAGEMENT

EFFORTS

RETAIN AS

BRAND

AMBASSADOR

SELL OR

HOST

RE-ENGAGE SALES FORCE &

CONTINUE RELATIONSHIP Preferred Option

Second Option

26

Page 27: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

27

VALUE

STRONG RECORD of

GROWTH and of RETURNING

Page 28: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

28

Local currency sales*

growth each year

2007–2014

*See GAAP to non-GAAP sales reconciliation for reported sales growth

SOLID HISTORY of GROWTH

5% to 9% Today’s value of $10,000

invested in Tupperware

in January 2007 to

December 2014 vs. $17k

in the S&P 500*

$40,000

Page 29: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

29

Annual Pre-tax ROS

Improvement

from 2003 to 2014*

5% to 13.9%

*Pre-tax ROS shown is excluding items. See GAAP to non-GAAP reconciliation

Average annual

local currency

margin improvement

from 2003 to 2014*

70 bps

STEADY MARGIN IMPROVEMENT

Page 30: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

$0

$50

$100

$150

$200

$250

$300

2009 2010 2011 2012 2013 2014 2015*

$M

illio

ns

Net Cash Flow before Financing Activities (Free Cash Flow) GAAP Net Income

30 *High end of guidance range provided in April 22, 2015 Earnings Release.

**Impact of changes in foreign currency versus prior year are updated monthly and posted on: http://ir.tupperwarebrands.com/foreign-exchange-impact.cfm

GAAP Net Income includes

impact of non-cash

purchase accounting asset

impairment charges

GAAP Net Income

includes

impact of Venezuelan

devaluations from

balance sheet items

CASH PRODUCER FREE CASH FLOW (as reported)

Page 31: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

1996 -2009

2010 2011 2012 2013 2014 2015

+20%

Announce 50% Payout

target on EPS ex. items

YIELD

4.0%*

+20%

+72% +10% EVEN

31

STEADY DIVIDENDS AND REPURCHASED ~20% OF SHARES SINCE 2007

*Yield based on May 18, 2015 closing stock price of $67.58

21.3 MILLION

SHARES (50.3 million outstanding)

For $1.3 BILLION

ANNUAL DIVIDENDS SHARE REPURCHASES

2007-2014

Page 32: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

32

Second Quarter 2015

Guidance

2015 Full Year Guidance

USD Sales* (13)% to (11)% (10)% to (8)%

GAAP EPS $0.99 – $1.04 $3.80 – $3.90

GAAP Pre-tax ROS 11.8 – 12.1% 11.3 – 11.4%

Local Currency Sales +5% to 7% +4 to 6%

EPS, excluding items** $1.14 – $1.19 $4.60 – $4.70

Pre-tax ROS, excluding items 13.1% – 13.4% 13.2% – 13.3%

FX Impact on EPS comparison, excluding items ($0.40) ($1.13)

*Guidance issued as of the April 22, 2015 earnings release. Venezuelan operating activity was translated at 50 bolivars/$ in January 2015, and at

the Simadi rate for the remainder of 1Q 2015. Expect to use the Simadi rate, which was approximately 195.0 as of April 20, 2015 to translate future

operating activity.

**GAAP to non-GAAP reconciliation attached to 1Q 2015 earnings release

OUTLOOK

Page 33: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

Double Digit EPS Growth driven by:

• Local Currency Sales: +6% to 8%

• Emerging markets about 10%

• Established markets low single digit

• Pre-Tax ROS, excluding items:

• 50 bps improvement per year into the mid- to high-teens

• Some offset from tax rate:

• Going to 27-28% over time

• CAPEX $70 - $80 million a year

• Share repurchases

33

LONG-TERM OUTLOOK

Page 34: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

APPENDIX

Page 35: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

35 *Reflects April 22, 2015 high-end guidance. See information on GAAP basis in appendix

2015 FULL YEAR EPS OUTLOOK*

Page 36: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

Pre-Tax ROS, excluding items: 13.3%

GAAP pre-tax ROS 11.4%

2014 Pre-Tax ROS

13.9%

2015 vs. 2014 translation FX -125 bp

2014 Pre-Tax ROS in Local Currency 12.7%

2015 LC Operating Margin Improvement +60

Incremental 2015 interest -8

Other/ Rounding 10

2015 High end pretax ROS 13.3%

36 *Pre-tax ROS reflects high end April 22, 2015 guidance

Impact of changes in foreign currency versus prior year are updated monthly and posted on: http://ir.tupperwarebrands.com/foreign-exchange-impact.cfm

2015 FULL YEAR ROS OUTLOOK *

Page 37: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

$0

$1

$2

$3

$4

$5

$6

$7

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2009 2010 2011 2012 2013 2014 2015*

Sales Diluted EPS Adjusted Diluted EPS37

Sales

$million

Diluted EPS includes

impact of non-cash

purchase accounting asset

impairment charges

EPS

$Dollar

*High end of guidance range provided in April 22, 2015 Earnings Release.

Impact of changes in foreign currency versus prior year are updated monthly and posted on: http://ir.tupperwarebrands.com/foreign-exchange-impact.cfm

Diluted EPS

includes

impact from

balance sheet items

of Venezuelan

devaluations

CONSISTENTLY GROWING SALES & EPS

Page 38: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

38

Non-GAAP FINANCIAL RECONCILIATION

2003 2004 2005 2006 2007 2008 2009 2010*

Net Income (GAAP) 47.9 86.9 85.4 94.2 116.9 161.4 175.1 221.2

Adjustments:

Gains on disposal of assets including insurance recoveries (3.6) (13.1) (4.0) (12.3) (11.8) (24.9) (21.9)

Re-engineering and other restructuring costs 6.9 7.0 14.3 7.6 9.0 9.0 8.0 10.0

Debt refinancing costs associated with Sara Lee acquisition 29.1

Acquired intangible asset amortization 1.8 25.0 13.6 11.9 5.1 3.8

Purchase accounting intangibles and goodwill impairment 11.3 9.0 28.1

Cumulative effect of accounting change 0.8

Costs associated with implementing 2007 credit agreement 9.6

Income tax impact of adjustments (2.4) 2.5 (36.9) (4.9) (7.4) 3.3 1.7 (4.0)

Net Income (Adjusted) 48.8 83.3 90.5 109.6 141.2 169.7 196.1 231.0

* High end of 2010 outlook provided in July 19, 2010 Earnings Release

Page 39: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

39

2010 2011 2012 2013 Q4 2014 2014 Q1 2015 Q2 2015* 2015*

Net Income (GAAP) $225.6 $218.3 $193.0 $274.2 $79.9 $212.0 $29.5 $52.3 $196.6

ADJUSTMENTS:

Gains on disposal of assets including insurance

recoveries (0.2) (3.8) (7.9) (0.7) (0.4) (2.7) (0.6) (0.7)

Re-engineering and other restructuring costs 7.6 9.6 22.1 9.3 2.8 13.4 16.2 3.6 24.6

Impact of Venezuelan bolivar devaluation from

balance sheet positions 4.2 0.2 42.4

9.3 1.0 10.3

Swap impairment and debt cost write-off 19.8

Acquired intangible asset amortization 3.9 2.9 2.1 4.8 2.9 11.9 2.7 2.7 10.9

Purchase accounting intangibles and goodwill

impairment 4.3 36.1 76.9

Income tax impact of adjustments (3.3) (9.6) (4.8) (3.5) 1.4 (2.4) (5.9) 0.2 (5.3)

Net Income (Adjusted) $237.9 $273.3 $281.4 $288.3 $86.8 $274.6 $51.2 $59.8 $236.4

Adjusted ROS 13.9% 13.9% 14.1% 14.1% 16.9% 13.9 % 11.8% 12.1% 13.3%

Average number of diluted shares (millions) 61.4 61.4 56.4 53.1 50.6 51.0 50.3 50.3 50.3

*High end of guidance range provided in April 22, 2015 Earnings Release.

Impact of changes in foreign currency versus prior year are updated monthly and posted on: http://ir.tupperwarebrands.com/foreign-exchange-impact.cfm

Non-GAAP FINANCIAL RECONCILIATION

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40

2009 2010 2011* 2012 2013 2014 2015**

Sales $2,128 $2,300 $2585 $2,584 $2,672 $2,606 $2,388

Reported Sales Growth (2)% 8% 12% 0% 3% (2)% (8)%

Local Currency Sales Growth 6% 6% 9% 5% 6% 5% 6%

*2011 had 53 weeks compared with 52 weeks in 2010

**2015 assumes the high-end of local currency sales growth

2009 THROUGH 2015 FULL YEAR GUIDANCE REPORTED AND LOCAL CURRENCY SALES

* 2011 included 53 weeks.

**High end of guidance range included in April 22, 2015 earnings release.

Page 41: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

1H – 2014

Q3 – 2014

Q4 – 2014

FY 2014

Q1 – 2015(1)

Q2 – 2015(1)

FY 2015(1)

Total Company Percentage Point Impact on Sales from Changes in Rate

(0.7pp) (3.5pp) (3.4pp) (2.1pp) (4.7pp) (3.3pp) (2.3pp)

Translation Impact of Changes in Rate on Diluted EPS Comparison ($0.04) ($0.10) ($0.08) ($0.21) ($0.13) ($0.13) ($0.28)

Re-measurement Impacts on Net Monetary Assets for 1H – 2014 and gain on conversion of bolivars to U.S. dollars (Q3 - 2014) (2)

($0.51) $0.09 ($0.08)(3) ($0.50) ($0.11)(4) N/A N/A

Transaction Impacts on cost of sales at Stronger Rates than Sales (2) ($0.12) ($0.23) $0.01(3) ($0.35) ($0.03)(4) ($0.03) (4) ($0.06) (4)

(1) The bolivar to U.S. dollar exchange rate used in translating the Company’s first quarter 2014 operating activity was 6.3 bolivars to the U.S. dollar, was 10.8 bolivars to the U.S. dollar in

the second quarter and was 50.0 in the second half of 2014 and in January 2015. In February 2015, the Venezuelan government launched an overhaul of its foreign currency exchange

structure for obtaining U.S. dollars, eliminating the SICAD 2 auction process and introducing the Marginal Currency System, or Simadi, which was approximately 195.0 bolivars to the U.S.

dollar as of April 20, 2015. The Company's outlook used the Simadi rate to translate its February and March 2015 results, and expects to use it to translate future operating activity. (2) The pretax expense impact from amounts on the balance sheet when the bolivar devalued are included in the U.S. GAAP earnings per share and return on sales data above, but not in

the data excluding items. (3) Reflects tax recognized on an annualized basis under U.S. GAAP. (4) With the change to the Simadi exchange rate there will be a negative profit impact related to net monetary assets and inventory of about $9.4 million. The change in rates in February

2015 also triggered a long-term fixed write off of $13.5 million in the first quarter of 2015.

VENEZUELA FX IMPACT IN 2014 AND 2015

41

Page 42: Mike Poteshman Executive VP & CFO/media/Files/T/TupperWare-IR/Eve… · FX Impact on EPS comparison, excluding items ($0.40) ($1.13) *Guidance issued as of the April 22, 2015 earnings

Mike Poteshman

Executive VP & CFO

June 2015