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Mike Poteshman Executive VP & CFO September 2016

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Page 1: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

Mike Poteshman Executive VP & CFO

September

2016

Page 2: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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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

Page 3: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Agenda

Business Model

Diversified Portfolio

Growth Opportunities

Financial Performance

Uses of Cash

Page 4: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Powerful Business Model

Group Demonstration Selling Brands & Products

Business Fundamentals Sales Force Opportunity

Page 5: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Power of our brand

The well known, aspirational Tupperware brand along with the channel is powerful:

• Relatively low product line competition

• In our category, low channel competition

• Allows maintenance of a strong gross margin

supported by innovation & unique features &

benefits

• Ability to sell flanker & subcategories

Page 6: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Innovative and demonstrable product

OVENWARE

KITCHEN

ESSENTIALS

FAST MICROWAVE

COOKING DRINKING

SOLUTIONS

MOVE /

ON THE GO FOOD CONSERVATION

CHEF COOKING

KITCHEN

ESSENTIALS

Page 7: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Power of demonstration selling

Demonstration Unlocks Features &

Benefits

Education plus Entertainment

Allows Selling of High Price

Point Items

Increases Hourly Earnings

Brand Building

Sales Force Additions

Access to New Hostesses &

Consumers

Page 8: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Sales Force Opportunity

Consultant

Demonstrates

& sells product

Income based on

Personal sales

Manager Team Leader

Distributor

Builds a team

of 3 – 5 Consultants

Income based on

Total team sales

Personal sales

Develops Managers

within her group

Income based on

Sales of the group

Total team sales

Personal sales

Leads & Builds a

Sales Organization

Income based on

Organizational sales

Independent Business Owners can choose to earn a

Part or Full-Time Income

Page 9: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Business Fundamentals

Find new sellers

Train new sellers

Leadership Development

Grow the Sales Force

Meetings & Events

Group Demonstration

Recognition & Rewards

Support Consistent Activity

Page 10: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Diversified Global Portfolio

Americas*

39% Asia Pacific

34%

*Americas includes Tupperware North America, 15%, Beauty North America, 11% and South America , 13%

Europe

27% 36% in 2006

Share of 2015 Sales

44% in 2006

20% in 2006

Page 11: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Emerging Market Growth

Emerging Markets

66% of Sales

12% CAGR from 2006 to 2015*

Established Market

34% of Sales

(2)% CAGR from 2006 to 2015*

*2006 – 2015 sales restated at September 2015 exchange rates

Page 12: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Seven units over $100 million in 2015 sales

Over

$200 Million

Over

$100 Million

Brazil

Indonesia

China

Fuller Mexico

Germany

Tupperware Mexico

Tupperware U.S. & Canada

Page 13: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Key Sales and Profit Currencies

91% of 2015 sales and 100% of net

profit from outside the U.S.

Basket of Global Currencies

Brazilian real

Chinese renminbi

Euro

Indonesian rupiah

Mexican peso

Page 14: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Growth Opportunities

1 Increase Penetration in Emerging Markets

Extend our Reach 3

2 Strengthen the Core Business Model

Page 15: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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• 85% of the world’s population & 66% of sales in 2015

• Growing Middle Class

• Lower Employment of Women outside the home

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

*Based on data found on Euromonitor

1 Increase Penetration in Emerging Markets

Page 16: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Biggest Penetration Opportunities

China

• Over $100 million sales in 2015

• 5,500 studios

• 20,000 studio potential

India

• Less than $100 million sales in 2015

• 1 consultant per 4,900 people

• More penetrated units: 1 per 1,000

Page 17: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Strengthen the Core Business Model

Extend our Reach

Page 18: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Strengthen the Core Business Model 2 Onboarding Success Formulas Demonstration Selling

Consistent global program of

training, support, activities, and

rewards for new consultants to

learn fundamentals that will increase productivity & longevity

Brazil and Germany Pilot

+Single digit increase in productivity

Roadmap of weekly activities

for all levels of the sales force,

which lead to desired earnings

and career opportunities

Mexico Pilot

Leaders performing 90% activities +11% Leaders performing 1/2 activities +6%

Greater penetration of

demonstration selling

• Brochure 1 on 1 demo

• 1 on 1 group demo

• Group demo culinary

Mexico Pilot

Party average increase low single digit

Page 19: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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3

Extend our Reach

Party + Experience Studios Brand Ambassador

Blending of the live, in home

party and e-commerce through video technology

Tupperware U.S. Pilot

+1-2 guests per party

2x order size than pure ecommerce

Partnering with sales force

leaders to establish modern

contact centers more

accessible to our sales force

and consumers

U.S. & Canada

30 remodeled or new studios to

open in 2017

Opportunity to engage former

sellers through the use of

more consistent marketing

efforts including digital

4 Europe Units

Pilot testing begins

Page 20: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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The Studio

Page 21: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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The Studio

Page 22: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Vision 2020 Strategies Timeline

Late 2013

Group

Formed

1st Half 2014

Selection of areas

of focus

2nd Half 2014

Creation of best

practices & toolkits

1st Half 2015

Proof of

concept begins

2nd Half 2015

First results for Pilots

captured

Refinement of

toolkits

2016

Integration of Onboarding &

Success Formula initiatives

Proof of concept for Extend

the Reach initiatives

2017

Strengthen the Core &

Extend the Reach

More widely adopted

Page 23: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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4% to 9%* local currency sales growth each year

2007 - 2015

Strong history of growth

5.0% to 12.8%** pretax ROS in 2003 & 2015

65 bps** annual average margin

improvement from 2003 to 2015

*See appendix for the Company’s reported sales from 2007 to 2015 and annual basis point improvement in local

currency

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

Page 24: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Cash producer - free cash flow

$-

$50

$100

$150

$200

$250

$300

2009 2010 2011 2012 2013 2014 2015 2016*

Net Cash Flow before Financing Activities (Free Cash Flow)

GAAP Net Income

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

*Outlook as of July 20, 2016 earnings release

Page 25: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Capital Allocation Policy

1

Dividend payout

based on 50% of

trailing year’s EPS

without items

Cash Flow from Operating net of Investing Activities

2

Manage Debt under

leverage target of

1.75x

Net Debt to EBITDA

3

Repurchase shares

in the open market

with remaining cash

and debt capacity

Allows Flexibility

Page 26: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Uses of Cash 2016 Guidance

Dividends

68 cents per share quarterly

Yield 4.2%**

Improve Leverage Ratio Toward

1.75X Target

through moderate EBITDA growth & debt repayment*

*As of July 20, 2016 earnings release

**Yield based on $2.72 annual dividend and closing share price of $65.53 on August 31, 2016

Cash Flow from Operating

Net of Investing Activities Guidance: $195 to $205 million Includes $28 million in potential Q3 land proceeds

Page 27: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Why Invest

Competitive Business Model

Opportunities for Above Average Growth

Diversified Portfolio for Sustainable Performance

Significant Return of Capital to Shareholders

Page 28: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Appendix

Page 29: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Non-GAAP Financial Reconciliation 2003 2004 2005 2006 2007 2008 2009

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

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

Debt refinancing costs associated with Sara Lee acquisition 29.1

Acquired intangible asset amortization 1.8 25.0 13.6 11.9 5.1

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

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

Page 30: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Non-GAAP Financial Reconciliation

*High end of guidance range provided in July 20, 2016 Earnings Release. Includes Q3 land transaction projected to generate about $28 million proceeds and EPS of 27 cents.

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

2010 2011 2012 2013 2014 2015 Q1 2016 Q2 2016 Q3 2016* 2016*

Net Income (GAAP) $225.6 $218.3 $193.0 $274.2 $214.4 $185.8 $43.4 $52.4 $50.4 $217.1

Adjustments:

Gains on disposal of assets including insurance recoveries (0.2) (3.8) (7.9) (0.7) (2.7) (13.7) (0.1) (0.8) (22.4) (23.3)

Re-engineering and other restructuring costs (includes Pension Settlement costs) 7.6 9.6 22.1 9.3 13.4 21.8 1.1 2.7 4.5 11.6

Impact of Venezuelan bolivar devaluation from balance sheet positions 4.2 42.4 14.9 0.2 3.6 -- 3.8

Acquired intangible asset amortization 3.9 2.9 2.1 4.8 11.9 10.2 2.0 2.0 1.9 7.7

Swap impairment and debt cost write-off 19.8

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) (4.8) 1.5 (0.7) (1.2) 7.0 (3.9)

Net Income (Adjusted) $237.9 $273.3 $281.4 $288.3 $274.6 $220.5 $45.9 $58.7 $41.4 $220.8

Pre –tax Adjusted ROS 13.9% 13.9% 14.1% 14.1% 13.9 % 12.8% 11.7% 13.7% 10.5% 13.1%

Average number of diluted shares (millions) 61.4 61.4 56.4 53.1 51.0 50.4 50.6 50.7 50.7 50.7

Page 31: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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Reported Sales 2008 – 2015

2008 2009 2010 2011* 2012 2013 2014 2015 2016**

Sales $2,162 $2,128 $2,300 $2,585 $2,584 $2,672 $2,606 $2,284 $2,266

Reported Sales

Growth 9% (2)% 8% 12% 0% 3% (2)% (12)% 0%

Local Currency

Sales Growth*** 8% 6% 6% 9% 5% 6% 5% 4% 4%

* 2011 included 53 weeks. ** High-end of guidance range included in July 20, 2016 earnings release, including 53rd week in Q4 ***Calculated by comparing sales with prior year translated at the current year exchange rate

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*Guidance provided in July 20, 2016 Earnings Release. Includes Q3 land transaction projected to generate $28 million in proceeds and EPS of 27 cents.

** GAAP to non-GAAP reconciliation on slide 28

Outlook*

Third Quarter 2016 Guidance

2016 Full Year Guidance

USD Sales +1% – 3% (2)% – (1)%

GAAP EPS $0.94 – $0.99 $4.18 – $4.28

GAAP Pre-tax ROS 13.1% – 13.5% 12.9% – 13.1%

Local Currency Sales +2% – 4% +3% – 4%

EPS, excluding items** $0.77 – $0.82 $4.25 – $4.35

Pre-tax ROS, excluding items 10.0% – 10.5% 12.9% – 13.1%

FX Impact on EPS comparison, excluding items ($0.02) ($0.34)

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* High end of guidance range provided in July 20, 2016 Earnings Release.

**GAAP to non-GAAP reconciliation on slide 28

Return on Sales Guidance* 2016

Third Quarter High End Guidance

2016 Full Year

High End Guidance

2015 Pretax ROS 10.2% 12.8%

Translation FX -- (40) bp

2015 Pretax ROS (constant currency) 10.2% 12.4%

LC Operating Margin Improvement 40 bp 60 bp

Net Interest Expense (10) 10

2016 Pretax ROS (high end guidance)** 10.5% 13.1%

Page 34: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

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$4.37 ($0.34)

($0.04)

($0.03)

$0.35 $0.04 $4.35

$3.50

$4.00

$4.50

2015 FX 2015 at 2016Rates

Tax Shares Ops Unallocated 2016

2 cent decrease in Reported $

8% increase in Local Currency**

$4.03

Full Year 2016 EPS Outlook* (diluted)

*Excluding items. See Non-GAAP reconciliation on slide 28.

** High end of guidance range provided in July 20, 2016 Earnings Release.

Page 35: September Mike Poteshman 2016 Executive VP & CFO/media/Files/T/TupperWare-IR/Events/... · through moderate EBITDA growth & debt repayment* *As of July 20, 2016 earnings release **Yield

Mike Poteshman Executive VP & CFO

September

2016