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UNILEVER PLC

For the period ended Dec 31, 2024. Filed Mar 13, 2025.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Mar 13, 2025

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UL$66.00-2.5%Stored close · as of Nov 6, 2026
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Contents

Cautionary Statement

This document may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation

Reform Act of 1995, concerning the financial condition, results of operations and businesses of the Unilever Group (the ‘Group’). All statements other than statements

of historical fact are, or may deemed to be, forward-looking statements. Words such as ‘will’, ‘aim’, ‘expects’, ‘anticipates’, ‘intends’, ‘looks’, ‘believes’, ‘vision’,

‘ambition’, ‘target’, ‘goal’, ‘plan’, ‘potential’, ‘work towards’, ‘may’, ‘milestone’, ‘objectives’, ‘outlook’, ‘probably’, ‘project’, ‘risk’, ‘seek’, ‘continue’, ‘projected’, ‘estimate’,

‘achieve’ or the negative of these terms, and other similar expressions of future performance or results and their negatives, are intended to identify such forward-

looking statements. Forward-looking statements also include, but are not limited to, statements and information regarding the Group’s emissions reduction and other

sustainability-related targets and other climate and sustainability matters (including actions, potential impacts and risks and opportunities associated therewith).

Forward-looking statements can be made in writing but also may be made verbally by directors, officers and employees of the Group (including during management

presentations) in connection with this document. 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 or outcomes. All forward-looking

statements contained in this document are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should

not place undue reliance on forward-looking statements.

Because these forward-looking statements involve known and unknown risks and uncertainties, a number of which may be beyond the Group's control, there are

important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Among other risks and

uncertainties, the material or principal factors which could cause actual results to differ materially from those expressed in the forward-looking statements included in

this document are: Unilever’s global brands not meeting consumer preferences; Unilever’s ability to innovate and remain competitive; Unilever’s investment choices

in its portfolio management; the effect of climate change on Unilever’s business; Unilever’s ability to find sustainable solutions to its plastic packaging; significant

changes or deterioration in customer relationships; the recruitment and retention of talented employees; disruptions in Unilever’s supply chain and distribution;

increases or volatility in the cost of raw materials and commodities; the production of safe and high-quality products; secure and reliable IT infrastructure; execution of

acquisitions, divestitures and business transformation projects, including the proposed separation of our Ice Cream business; economic, social and political risks and

natural disasters; financial risks; failure to meet high and ethical standards; and managing regulatory, tax and legal matters and practices with regard to the

interpretation and application thereof and emerging and developing ESG reporting standards including differences in implementation of climate and sustainability

policies in the regions where the Group operates. Also see ’Our Principal Risks’ on pages 51 to 61

for additional risks and further discussion.

The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently

available to us. Forward-looking statements are not predictions of future events. These beliefs, assumptions and expectations can change as a result of many

possible events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity and results of operations may vary

materially from those expressed in our forward-looking statements.

The forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, the Group expressly disclaims

any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Group’s

expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. New risks and uncertainties arise over

time, and it is not possible for us to predict those events or how they may affect us. In addition, we cannot assess the impact of each factor on our business or the

extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. In preparing

the sustainability and climate-related information in this document, Unilever has made a number of key judgements, estimations and assumptions. Sustainability and

climate data, models and methodologies are often rapidly evolving and are not of the same accuracy as those available in the context of other financial information.

There may also be challenges in relation to availability of sustainability and climate-related data and potential inconsistencies. This means that sustainability and

climate-related forward-looking statements can be subject to more uncertainty than other types of statements and therefore our actual results and developments

could differ from those expressed or implied in the sustainability and climate-related forward-looking statements in this document.

This document also contains data on the Group’s Scope 1, 2 and 3 emissions. Some of this data is based on estimates, assumptions and uncertainties. Scope 1 and

2 emissions data relates to emissions from the Group’s own activities and supplied heat, power and cooling, and is generally easier for the Group to gather than

Scope 3 emissions data. Scope 3 emissions relate to other organisations’ emissions and is therefore subject to a range of additional uncertainties, including that: data

used to model lifecycle footprints is typically industry-standard data or estimates rather than relating to individual suppliers; and lifecycle models, such as the Group’s,

cover many but not all products and markets. In addition, international standards and protocols relating to Scope 1, 2 and 3 emissions calculations and

categorisations also continue to evolve, as do accepted norms regarding terminology, such as carbon neutral and net zero, which may affect the emissions data the

Group reports. As Scope 3 emissions data improves, shifting over time from generic modelled data to more specific data, the data reported in this document is likely

to evolve. We will continue to review and develop our approach to emissions data in line with evolving market approaches and standards.

Throughout this report, we include non-GAAP financial measures to explain the performance of our business, including underlying sales growth, underlying volume

growth, underlying price growth, non-underlying items, underlying operating profit, underlying operating margin, underlying earnings per share, underlying effective

tax rate, constant underlying earnings per share, free cash flow, cash conversion, underlying return on assets, net debt and underlying return on invested capital.

Such non-GAAP financial measures are defined in ’Additional financial disclosures’ and a reconciliation of these measures to their most directly comparable GAAP

financial measures are included within ’Additional financial disclosures’. See pages 40 to 47.

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 in the Annual Report on Form 20-F 2024.

This document is not prepared in accordance with US GAAP and should not therefore be relied upon by readers as such. The Annual Report on Form 20-F 2024 is

separately filed with the US Securities and Exchange Commission and is available on our corporate website: www.unilever.com.

In addition, a printed copy of the Annual Report on Form 20-F 2024 is available, free of charge, upon request to Unilever, Investor Relations Department, 100 Victoria

Embankment, London EC4Y 0DY, United Kingdom.

This document comprises regulated information within the meaning of Sections 1:1 and 5:25c of the Act on Financial Supervision (‘Wet op het financieel toezicht

(Wft)’) in the Netherlands.

The brand names shown in this report are trademarks owned by or licensed to companies within the Group.

References in this document to information on websites (and/or social media sites) are included as an aid to their location and such information is not incorporated in,

and does not form part of, the Unilever Annual Report and Accounts 2024

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.