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Investor Overview

A unique Global Position to Create Value

Best Brand Portfolio

Six Brands with more than $1 billion in sales each

#1 Globally*

#1 in 6 of
top 10 countries

Innovation

Launched ~100
products in 2019

Best Cost Takeout

~$375 Million annual gross cost take out (2015-2019)

Strong Regional Footprint

Net Sales by Region (2019)

56%
16%
21%
7%

North America

Strong value creation in a healthy marketplace

Latin America

Solid growth as Brazilian demand rebounds

Europe, Middle East & Africa

Restoring profitability after taking strategic actions

Asia

Strong India growth; cost-efficient production in China

Strong Financial Performance*

$20.4B Sales

(2019, As Reported)

Stable revenue growth in key countries

$912M FCF

(2019, As Reported)

Strong cash flow generation

6.9% EBIT

(2019 Ongoing, As Reported)

Focused plans to expand margins

9% TSR

(2009-2019)

Annualized Total Shareholder Return

Performance Image

Compelling long-term goals*

Long Term Images

~3%Annual organic net sales growth

~10%EBIT margin

6%+FCF as % of net sales

Top-QuartileS&P 500 Total Shareholder Return

Balanced capital deployment & Consistent return to shareholders

~3%

Capex as % of Net
Sales

15%+

ROIC Threshold on Aquisitions

Invested $6.0B

in our business (2015-2019)

~30%

Target Dividend
Payout Ratio

~$0.7B

Share Repurchase Authorization Remaining**

Returned $4.3B

to shareholders (2015-2019)

Ongoing Earnings per Share*11% CAGR from 2012 to 2019

Investor
Overview
Supplemental
Information

*For more information, see Supplemental Information

**As of 12/31/2019