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Vindi BangaPresident Foods

Deutsche BankConference

11th June 2007

Safe harbour statementThis 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

• Restoring Unilever’s growth momentum

• Our growth strategy for Foods

• Results – agenda going forward

Agenda

• Restoring Unilever’s growth momentum

• Our growth strategy for Foods

• Results – agenda going forward

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Our 12 €1bn+ brands

World Number 1

World Number 2

Local strength

Savoury & Dressings

Spreads

Meal replacement

Tea

Ice Cream

Laundry - #1 in D&E

Household Care

Daily Hair Care - #1 in D&E

Skin

Deodorants

Oral Care

Foods Home & Personal Care

Strong category and brand positions

Our position in 2004

0

1

2

3

4

5

6

2001 2002 2003 2004

US

G %

0

2

4

6

8

10

12

14

Ope

ratin

g m

argi

n (%

)

USG Operating margin

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2004 - A portfolio not driven to its full potential

Exposure to D&E

Brand and category positions

Growth potential

Leveraging of scale

Organisation to deliver

Clear prioritisation

Growth

A new business model

Disciplined execution

Cleargrowth strategy

Alignedorganisation

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Defining our growth priorities

• Businesses that are attractive

• Businesses where we are already advantaged

• Businesses that exploit our strength in D&E

Deodorants, Skin, Hair

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Savoury, Ice Cream, Tea

Vitality within Foods

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D&E: Foods, Home care

Russia and China

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Our growth priorities

Deodorants, Skin, Hair

Savoury, Ice Cream, Tea

Vitality within Foods

D&E: Foods, Home care

Russia and China

Disciplined execution, speed, effectiveness

Unilever ExecutiveCorporate strategyPortfolio priorities

Performance management

Regions

Go to marketCustomer management

Supply chain

Categories

Brand and category strategies

InnovationR&D

Functions

Functional excellenceBusiness support

Simplification

Aligned organisation

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0% 20% 40% 60% 80% 100%

Regional sharedservices

Back officeintegration

One sales force

Single head office

One top team

Completed Announced

One Unilever

Progress in top 20 countries

0%

1%

2%

3%

4%

5%

6%

Q1 2

005*

Q2 2

005

Q3 2

005

Q4 2

005*

Q1 2

006

Q2 2

006

Q3 2

006

Q4 2

006

Q1 2

007

Growth momentum

* Days adjusted

Unilever underlying sales growth

Annualised growth rate

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Agenda

• Restoring Unilever’s growth momentum

• Our growth strategy for Foods

• Results – agenda going forward

-1%

0%

1%

2%

3%

4%

5%

2003 2004 2005 2006 Q1 2007

Foods return to growthFoods underlying sales growth

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Sustained profitable growth

D&E markets

Local Regional Global

Grow the core

Embrace Vitality

New high growth platforms

Our growth strategy for FoodsH

EALT

HIE

R

FOO

DS Inherent

Goodness

Segment ExampleSegmentCAGR ’02–’06 (Market size ’06)

Source: Euromonitor, Unilever estimates

We will up-trade our portfolio with Vitality

Positive Choice

Functional Health

Market standard

+5% (€100bn)

+7% (€130bn)

+10% (€70bn)

Goodness of olive oil, soy

Lower salt, sugar, fatDouble churn

Heart Health –pro.activ

No health claim+3% (€990bn)

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Oils

Tea

Fruit and

vegetables

Soy

Milk

We will deliver the goodness of five key ingredients…

BeautyHeart Health

Immunity and

strengthWeight

managementBrain

… and deliver five key benefits

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Products must meet benchmarks on

– Saturated Fat

– Trans Fat

– Sodium

– Sugar

Global roll-out ’06-’08

Healthy choices made easier

Embrace Vitality

New high growth platforms

Grow the core D&E markets

Local Regional Global

Sustained profitable growth

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Rama Idea!

The first margarine with important nutrients that support mental developmentLow fat (39%) spreadRich source of selected brain nutrients (DHA, ALA, B-vitamins)One design for the worldLaunched in 14 countries in 5 months

Making light mayonnaise the flagship

Flagship positioning of Light Mayonnaise

Delicious light mayonnaise with only 5% fat

One shared technology platform (citrus fibre)

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Embrace Vitality

New high growth platforms

Grow the core D&E markets

Local Regional Global

Sustained profitable growth

Vitality in children’s Ice Cream

+ +

Goodness of Milk Ice Cream launched in Indonesia with great success

Actively rolled out globally

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Upgrading Tea experience in China

Novel, upgraded milk tea experience

Uptrading consumers to higher value proposition

Market leadership 3 months after launch

Regional roll-out

Embrace Vitality

New high growth platforms

Grow the core D&E markets

Local Regional Global

Sustained profitable growth

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Healthy heart shots that actively remove cholesterol

Crossing the Atlantic –US launch May 2007

Healthy Heart pro.activ

AdeS soy beverages opportunity

Great tasteNutritional balance

Goodness of soy

AdeS a sustained success in Latin AmericaAdeZ mix now tested in UK and Netherlands

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Advertising

Agenda

• Restoring Unilever’s growth momentum

• Our growth strategy for Foods

• Results – agenda going forward

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Key financials

€4.0bn

(90)bps

13.2%3.1%2005

40bps

13.7%5.7%

Q1 2007

€4.2bn

(30)bps

13.6%3.8%2006

Ungeared free cash flow

‘Underlying’ movement in operating margin*

Operating marginUnderlying sales growth

*Before restructuring, disposals and impairments and 2006 gains on US health care and UK pensions

and 2005 profit on office sale

Total Unilever

Long term targets:

FCF €25-30bn during 2005-2010

Improved ROIC

Through:

Underlying sales growth of 3-5% pa

Operating margin in excess of 15% by 2010 after normal restructuring

Improved capital and tax efficiency

Overarching ambition remains top one-third TSR

Our long term ambition

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Agenda going forward

• Growth our number one priority– Competitive– Profitable– Consistent

• Seeking further opportunities to accelerate the transformation