Sara Lee International. Adriaan Nühn Chief Executive Officer

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1 Sara Lee International Adriaan Nühn Chief Executive Officer

2 Sara Lee International We laid a strong foundation for future growth in fiscal 2006 even as we overcame challenges We have a focused, integrated customer strategy Changing consumer preferences provide important growth opportunities for our Beverage business We have outstanding market and brand expansion opportunities in International Bakery We will achieve profitable growth in Household & Body Care through new product development in each of our core categories

3 Sara Lee International We laid a strong foundation for future growth in fiscal 2006 even as we overcame challenges We have a focused, integrated customer strategy Changing consumer preferences provide important growth opportunities for our Beverage business We have outstanding market and brand expansion opportunities in International Bakery We will achieve profitable growth in Household & Body Care through new product development in each of our core categories

4 Sara Lee International Key Brands

5 Sara Lee International Sales by Region FY06 Sales = $4.9 billion 7.0% 12.0% 73.0% 2.0% 6.0% Western Europe Eastern Europe Asia/Australia Africa S. America

6 Sara Lee International by Category FY06 Sales = $4.9 billion 38.0% 47.0% 15.0% Beverage Household & Body Care International Bakery

7 Sara Lee International Sales International Beverage FY05 FY06A $2.2 billion $2.4 billion FY06 change versus FY05 +5% H&BC $1.8 billion $1.8 billion (1)% International Bakery $739 million $742 million 0% $4.8 billion $4.9 billion +2% Significant items $174 million - $(174) million Total $5.0 billion $4.9 billion (1.5)%

8 Sara Lee International Operating Segment Income International Beverage FY05 FY06A $417 million $400 million FY06 change versus FY05 (4)% H&BC $300 million $244 million (19)% International Bakery $72 million $64 million (11)% $789 million $708 million (10)% Significant items $(4) million $(88) million $(84) million Total $785 million $620 million (21)%

9 FY06 Successes & Challenges SUCCESSES Organizational transformation: Focused Marketing/Sales Shared Services/Functional Excellence Reduced headcount by 1,300 Divested non-core assets Accelerated flow of new product innovations Beginning to see top-line growth momentum Establishing a culture of Continuous Improvement CHALLENGES Maintaining focus of our employees during reorganization European trade; hard discounters Air Care struggles Decline of European Bakery over course of year Higher raw material/energy costs

10 Continuous Improvement is Being Rolled Out WAVE 1 Sept 05-Jan 06 WAVE 2 Jan 06-Apr 06 WAVE April Apr 06-Jul 07 WAVE 3 Sept 06-Jan 07 WAVE 4 Jan 07-May 07 WAVE 5 Sept 07-Jan 08 WAVE 6 Jan 08-May 08 JAN 9 OCT 9 FEB 26 Factory 2 Factory 11 Factory 18 Factory 26 OCT 2 FEB 19 Factory 10 Factory 17 Factory 25 SEP 26 Factory 1 APR 5 Factory 5 SEP 25 Factory 9 NOV 6 MAR 12 Factory 13 Factory 20 Factory 24 FEB 27 OCT 16 MAR 5 Factory 4 Factory 12 Factory 19 Factory 27 Factory 32 SEP 11 JAN 22 Factory 8 Factory 15 Factory 23 Factory 29 SEP 4 JAN 15 Factory 7 Factory 14 Factory 22 Factory 28 JAN 23 MAY 29 FEB JULY FEB Factory 3 Factory 6 Factory 16 Factory 21 Factory 30

11 FY06 Successes & Challenges SUCCESSES Organizational transformation: Focused Marketing/Sales Shared Services/Functional Excellence Reduced headcount by 1,300 Divested non-core assets Accelerated flow of new product innovations Beginning to see top-line growth momentum Establishing a culture of Continuous Improvement CHALLENGES Maintaining focus of our employees during reorganization European trade; hard discounters Air Care struggles Decline of European Bakery over course of year Higher raw material/energy costs

12 Sara Lee International We laid a strong foundation for future growth in fiscal 2006 even as we overcame challenges We have a focused, integrated customer strategy Changing consumer preferences provide important growth opportunities for our Beverage business We have outstanding market and brand expansion opportunities in International Bakery We will achieve profitable growth in Household & Body Care through new product development in each of our core categories

13 We Are Facing a More Challenging Trade Across All Businesses Margin pressure in traditional channels due to price wars Trade differentiation Growth in own brands/private labels Increased international concentration of trade Discount channel still growing

than traditional Champion supermarket Discount concept C Frais & Discount 3 stores 1,050-1,300 square meters High

14 Trade Differentiation: Champion Has Two Tests Running In France Source: Carrefour reports Source: Lineaires Premium concept Urban Champion Layout adapted to time conscious shoppers Entire store is self-service Higher end than traditional Champion supermarket Discount concept C Frais & Discount 3 stores 1,050-1,300 square meters High proportion of private label and first price products Bulk section (80 SKUs) Self-service and simple layout Source: MVI

15 We Are Facing a More Challenging Trade Across All Businesses Margin pressure in traditional channels due to price wars Trade differentiation Growth in own brands/private labels Increased international concentration of trade Discount channel still growing

16 Customer Strategy Align assortment strategies and pursue distribution opportunities Selectively grow in discounters Grow where our customers are growing geographically Engage with our key customers on multi-functional levels Drive efficient trade spend and pricing architecture Use customer segmentation for priority deployment of resources

17 Discounter Strategy: Selectively Build Our Presence Strategy to sell our brands through the discount channel We will pursue opportunities on a case-by-case basis The following criteria must be met: Economics should be sound Channel conflict should be manageable Opportunity should not add complexity Our discounter presence today Our established positions in the discount channel include: Lidl France: Sanex Germany: Duschdas Poland: Prima Finezja Spain: Bimbo Dia/ED France: Sanex, Monsavon, Ambi Pur, L Or, Senseo Spain: Bimbo, Hornimans Norma Germany: Duschdas, Senseo Czech Republic: Aroma

18 Customer Strategy Align specific assortment strategies and pursue distribution opportunities in new channels meeting the trend of retailer differentiation Selectively grow in discounters Grow where our customers are growing geographically Use customer segmentation for priority setting and deployment of resources Engage with our key customers on multi-functional levels Drive efficient trade spend and pricing architecture

19 We Have A Company-wide Structured Pricing & Trade Spend Approach To Improve Margins Margin Improvement Pricing & Promotion Management (PPM) Pricing Architecture Trade Terms Architecture Optimal Consumer Price-point Promo Planning & Evaluation Joint Business Building Trade Terms Efficiency Trade Terms

20 Sara Lee International We laid a strong foundation for future growth in fiscal 2006 even as we overcame challenges We have a focused, integrated customer strategy Changing consumer preferences provide important growth opportunities for our Beverage business We have outstanding market and brand expansion opportunities in International Bakery We will achieve profitable growth in Household & Body Care through new product development in each of our core categories

21 We Have Strong Beverage Brands FY06 Sales in $ Millions $379 $336 $142 $130 $123

22 Coffee & Tea Product Breakdown $2.4 billion Retail Tea Instants Coffee pods 29.0% 71.0% 65 Roasted coffee Out-of-Home Retail

23 Our Brands are Well Positioned in Large Categories 12-month share* Market position Category Size Key brand(s) Total Global Coffee** 9.0% #3 6 million tons Douwe Egberts, Senseo Global Retail R&G Coffee 8.9% #2 $24.5 billion Douwe Egberts, Senseo Netherlands 60.1% #1 $748 million Douwe Egberts, Senseo Belgium 55.8% #1 $336 million Douwe Egberts, Senseo Spain 23.0% #1 $361 million Marcilla France United Kingdom Hungary 19.6% 12.1% 44.8% #2 #1 #1 $1.8 billion $194 million $137 million Maison du Café, Senseo Douwe Egberts, Senseo Douwe Egberts, Senseo Brazil 18.6% #1 $1.4 billion Pilāo *Value shares, Euromonitor and Nielsen, August 2006 **Volume share, Euromonitor, June 2005

24 Evolving Consumer Needs Multi-serve Single-serve Black Variety Hot Cold DIY Ready-to-drink Home Out-of-Home

25 Senseo Multi-serve Single-serve

26 Senseo Machines Netherlands France Germany Belgium 11 million machines sold 11 billion pods sold

27 Senseo Growth Sales in $ million $336 $319 $327 $403 $234 $243 $21 $110 $110 FY02 FY03 FY04 FY05 FY06

28 The Single-Serve Innovation Pipeline is Full for Fiscal 2007 Cappuccino Mug size pods Espresso

29 The Single-Serve Innovation Pipeline is Full for Fiscal 2007

30 Senseo Commercial

31 Different Price Segments for Single-Serve Segment Price Index Super Premium Premium Upper Mainstream 100 Lower Mainstream Value 80 85

32 Evolving Consumer Needs Multi-serve Single-serve Black Variety Hot Cold DIY Ready-to-drink Home Out-of-Home

33 Café Fresco Hot Cold

34 Café Smooth Hot Cold DIY Ready-to-drink

35 Café Switch

36 And We Do Not Forget Local Brands

37 Presence at Different Price Segments for Multi-Serve Segment Super Premium Premium Price Index 170 (2.95) 145 (2.49) 125 (2.15) Upper Mainstream 115 (1.99) Lower Mainstream 100 (1.75) Value 65 (1.10)

38 L Or Commercial

39 Evolving Consumer Needs Multi-serve Single-serve Black Variety Hot Cold DIY Ready-to-drink Home Out-of-Home

40 Our Strategy to Win With Customers and Consumers Provide segment-focused, customized, value-added solutions Ingredients Brands Experience Equipment to delight the customer & consumer Technical Service Added Value Services

41 Upgrade Entire Cafitesse Range From Back- to Front-of-House with attractive design C100 Development C300 Development C600 Implementation

42 C60: The New Generation Cafitesse The coffee & cappuccino solution for medium and small size businesses

43 Top Quality Liquid: Upgrade Entire Cafitesse Ingredient Range Mainstream Coffee Range Premium Coffee Range

44 Good Origin: The Sustainable Coffee Good Origin is based upon Utz Kapeh which is the fastest growing program Launched in August 06 in all markets by December Customers working with us and Utz Kapeh

45 Our Push in Emerging Markets Russia Focus on Instants Move from commodity to branded (e.g., vacuum packs) Brazil China Selective penetration (e.g., China Shanghai Senseo)

46 Senseo in China Launch Party Website Advertorial & Press release Demo

47 Sara Lee International We laid a strong foundation for future growth in fiscal 2006 even as we overcame challenges We have a focused, integrated customer strategy Changing consumer preferences provide important growth opportunities for our Beverage business We have market and brand growth opportunities in International Bakery We will achieve profitable growth in Household & Body Care through new product development in each of our core categories

48 International Bakery Geographic Breakdown Net Sales FY06 = $742 million 65.0% 21.0% 14.0% Australia EuroDough Spain & Portugal

49 Spanish Fresh Bakery Healthy underlying market growth in packaged bread Leading market position with strong brand Bimbo Product innovation is exciting the category and driving premium positioning DSD system Challenge: major customer moved to private label

50 Strong Market Growth in Packaged Bread in Spain Euros in Millions Total Bread Market 3,695 3,621 3,902 3,960 4,019 4,120 Bakery Bread 3,318 3,212 3,445 3,481 88% 3,296 82% 3,090 75% Packaged Bread 377 Actual Actual 2003 Actual Actual 2005 CAGR 10% 12% 723 Estimate 2010 CAGR 8.6% 18% 1,030 Estimate 2015 CAGR 7.3% 25% Source: TNS CY2005

51 Bimbo Has the #1 Market Position in Packaged Fresh Bread in Spain Panrico 18% Other 3% Private Label 25% Bimbo 54% Source: IRI June 2006

52 Bimbo Product Offerings Children Women Family with Children Adults Breakfast Snacking Lunch After School/ Snacking Dinner

53 The Innovation Pipeline is Full for Fiscal 2007 White with Wheat 0% fat, 0% added sugar Same slice, all formats Donuts

54 New Advertising Campaign: As Tender as a Kiss

55 Bimbo Commercial #1

56 Bimbo Commercial #2

57 Sara Lee International We laid a strong foundation for future growth in fiscal 2006 even as we overcame challenges We have a focused, integrated customer strategy Changing consumer preferences provide important growth opportunities for our Beverage business We have outstanding market and brand expansion opportunities in International Bakery We will achieve profitable growth in Household & Body Care through new product development in each of our core categories

IRISH GROCERY AND BREXIT DOUGLAS FAUGHNAN KANTAR WORLDPANEL

IRISH GROCERY AND BREXIT DOUGLAS FAUGHNAN KANTAR WORLDPANEL ECR Ireland Supply Chain & Product Availability Summit 23 August 2018 Carlton Hotel, Dublin Airport #ECRSupplyChain www.ecrireland.ie IRISH GROCERY