div class=ts-pagebutton class=gotoPage data-page=1Page 1button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page1jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=1 data-page=1 class=ts-thumb lazyload alt=Page 1: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails1jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=2Page 2button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page2jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=2 data-page=2 class=ts-thumb lazyload alt=Page 2: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails2jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=3Page 3button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page3jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=3 data-page=3 class=ts-thumb lazyload alt=Page 3: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails3jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=4Page 4button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page4jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=4 data-page=4 class=ts-thumb lazyload alt=Page 4: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails4jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=5Page 5button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page5jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=5 data-page=5 class=ts-thumb lazyload alt=Page 5: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails5jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=6Page 6button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page6jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=6 data-page=6 class=ts-thumb lazyload alt=Page 6: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails6jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=7Page 7button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page7jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=7 data-page=7 class=ts-thumb lazyload alt=Page 7: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails7jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=8Page 8button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page8jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=8 data-page=8 class=ts-thumb lazyload alt=Page 8: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails8jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=9Page 9button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page9jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=9 data-page=9 class=ts-thumb lazyload alt=Page 9: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails9jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=10Page 10button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page10jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=10 data-page=10 class=ts-thumb lazyload alt=Page 10: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails10jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=11Page 11button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page11jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=11 data-page=11 class=ts-thumb lazyload alt=Page 11: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails11jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=12Page 12button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page12jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=12 data-page=12 class=ts-thumb lazyload alt=Page 12: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails12jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=13Page 13button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page13jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=13 data-page=13 class=ts-thumb lazyload alt=Page 13: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails13jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=14Page 14button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page14jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=14 data-page=14 class=ts-thumb lazyload alt=Page 14: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails14jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=15Page 15button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page15jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=15 data-page=15 class=ts-thumb lazyload alt=Page 15: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails15jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=16Page 16button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page16jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=16 data-page=16 class=ts-thumb lazyload alt=Page 16: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails16jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=17Page 17button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page17jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=17 data-page=17 class=ts-thumb lazyload alt=Page 17: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails17jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=18Page 18button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page18jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=18 data-page=18 class=ts-thumb lazyload alt=Page 18: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails18jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=19Page 19button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page19jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=19 data-page=19 class=ts-thumb lazyload alt=Page 19: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails19jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=20Page 20button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page20jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=20 data-page=20 class=ts-thumb lazyload alt=Page 20: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails20jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=21Page 21button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page21jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=21 data-page=21 class=ts-thumb lazyload alt=Page 21: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails21jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=22Page 22button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page22jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=22 data-page=22 class=ts-thumb lazyload alt=Page 22: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails22jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=23Page 23button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page23jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=23 data-page=23 class=ts-thumb lazyload alt=Page 23: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails23jpg width=140 height=200 adivdivdiv class=ts-pagebutton class=gotoPage data-page=24Page 24button div class=ts-imagea href=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5page24jpg target=_blank img data-url=value-creation-unilever-portfolio-delivers-consistent-results-free-cash-flow-2015htmlpage=24 data-page=24 class=ts-thumb lazyload alt=Page 24: Value Creation - Unilever · Portfolio delivers consistent results Free Cash Flow 2015 2014 First Half €02 b €39bn n vs 2014 *Adjusted for tax on disposals Underlying Sales loading=lazy src=data:imagegifbase64iVBORw0KGgoAAAANSUhEUgAAAAIAAAACCAQAAADYv8WvAAAAD0lEQVR42mP8X8AwAgiABKBAv+vAXklAAAAAElFTkSuQmCC data-src=https:reader043vdocumentsusreader043viewer20220407165e1ff4f05105af33103e827chtml5thumbnails24jpg width=140 height=200 adivdiv
