Fy21 Interim Results Fy21 Interim Disclaimer

PZ Cussons Plc Interim results | 30 Nov 2020 FY21 INTERIM RESULTS FY21 INTERIM DISCLAIMER

This presentation contains certain forward-looking statements relating to expected or anticipated results, performance or events. Such statements are subject to normal risks associated with the uncertainties in our business, supply chain and consumer demand along with risks associated with macro-economic, political and social factors in the markets in which we operate. Whilst we believe that the expectations reflected herein are reasonable based on the information we have as at the date of this presentation, actual outcomes may vary significantly owing to factors outside the control of the Company, such as cost of materials or demand for our products, or within our control such as our investment decisions, allocation of resources or changes to our plans or strategy.

The Company expressly disclaims any obligation to revise forward-looking statements made in this or other presentations to reflect changes in our expectations or circumstances. No reliance may be placed on the forward looking statements contained within this presentation. PZ Cussons Plc

Interim results | 30 Nov 2020 3 sheet discipline sheet 19 related volatility related 19 - and balanceand our organisation our significant COVID significant Bold Brands, Bold leaders’ Bold Brands, Bold ‘ - emphasis on profitable revenue growth growth revenue on profitable emphasis with with for marketing and capabilities across across capabilities and marketing for change a fast start start a fast investment investment

Messages

Key initiatives on track in H2 to continue turnaround but turnaround continue in H2 to track on initiatives Key Driving organisational organisational Driving

Completion of executive team with new CFO, Managing Director UK and Global Supply Chain Director Chain Supply Global and UK Director Managing CFO, new with team executive of Completion Increase in Increase

H1 delivered H1 delivered Key Key

PZ Cussons Plc

Interim results | 30 Nov 2020 4 RESULTS

Financial Financial Review FY21 INTERIM PZ Cussons Plc

Interim results | 30 Nov 2020 5 137.7m last year 137.7m last all key markets all key growth in growth financial year financial 2020 year line line with share in share led by Carex with growth and in CussonsBaby Morning St Tropez Fresh, with growth led by Carex driven the driven by UK with 21.9% declared 2.67p per at declared before tax increased by 18.7% delivered by growth in Regions and a lower interest charge interest and in a lower Regions growth by by 18.7% delivered increased tax before profit profit

dividend

Brands revenue grew by grew revenue Brands

Interim Interim Balance sheet continues to strengthen with net debt of £18.2m versus £ with net debt of £18.2m versus strengthen to Balance sheet continues

Adjusted Adjusted Focus Focus

Group revenue increased 14.6% by increased revenue Group Financial Financial Highlights PZ Cussons Plc

Interim results | 30 Nov 2020 6 1.4% - 2.67p £36.3m Dividend PY: 2.67p PY: PY: £36.8m PY: Reported Profit before tax before Profit Reported +18.7% £34.9m £33.0m PY: £30.0m PY: PY: £21.6m PY: Free Cash Flow Cash Free Adjusted Profit before tax before Profit Adjusted

and profit growth in all Regions with strong balance sheet with strong Regions in all growth profit and +14.6% £18.2m Revenue £312.9m Net Debt Net PY: £284.0m PY: PY: £137.7m PY: Overview Overview H1 of FY21 Revenue PZ Cussons Plc

Interim results | 30 Nov 2020 7 % % currency change 32.6 33.2 % Constant d e t % % r o p change e % R 32.5 33.2 19 m m % 88.4 20.5 23.2 30 Nov Nov 30 £ £ Half Year to Year Half line performance of St Tropez and Sanctuary almost almost Sanctuary and Tropez St of performance line - m m 20 % 3.3 27.3 2 117.1 30 Nov Nov 30 £ Half Year to Year Half £ profit % and and Americas

impact of marketing investment and increased trade marketing costs at point of sale. of point at costs marketing trade increased and investment marketing of impact Modest revenue reduction in Beauty with on with Beauty in offsetting margins reduction Beauty revenue higher street. Modest and UK high in the in revenue decline the increased to due offsetting grew Region the for profit Operating Growth in revenue driven by Carex the #1 choice of consumers in both the hand wash and sanitiser sanitiser and wash hand the both in consumers of choice #1 the Source. Carex by Original driven and revenue Leather in Growth Imperial in decline offsetting categories Unprecedented growth in category with new entrants in hand sanitiser hand in entrants new with category in growth Unprecedented

Operating margin Operating Adjusted operating Adjusted Revenue

Continuing Continuing Operations Europe Europe PZ Cussons Plc

Interim results | 30 Nov 2020 8 currency change 48.1% 4.2% % Constant Garden improved margins margins improved d e and and t r o p change e 1.8% % 42.7% R offs in exports from last year last from exports in offs - 19 m m % 8.2 8.7 94.2 a return to growth in Rafferty’s Rafferty’s in growth to return a £ 30 Nov Nov 30 £ Half Year to Year Half m m 20 % 95.9 11.7 12.2 30 Nov Nov 30 £ £ Half Year to Year Half increased revenue with with revenue increased both Australia and Indonesia driven by revenue, revenue, by driven Indonesia and Australia both and operating costs. operating and grew in in grew Australia Home care and in selected Cussons Baby categories. categories. Baby Cussons selected in and care Home Australia % growth in in growth operating profit profit operating Fresh and Cussons Baby Baby Cussons and Fresh share share

Pacific reflecting lower promotional one of promotional absence lower and Australia reflecting and Indonesia by driven result Margin Morning Morning Adjusted Market Market

Operating margin Operating Adjusted operating profit operating Adjusted Revenue Asia Asia PZ Cussons Plc

Interim results | 30 Nov 2020 9 currency change 43.8% 5.9% % Constant brands. brands. exchange headwinds. headwinds. exchange d e smaller smaller t %) r o p foreign foreign change e 3.4 % R 35.3% ( 28th September. September. 28th 19 m m % 1.7 business on on business 1.7 98.2 £ 30 Nov Nov 30 £ Half Year to Year Half and margin in Nigeria offsetting offsetting Nigeria in margin and m 20 2.4% 94.9 revenue revenue £2.3m 30 Nov Nov 30 improved performance also. performance improved £ Half Year to Year Half with first stage completed. stage first with due to to due grew grew Fresh, Cussons Baby and Premier all grew together with some some with together grew all Premier and Baby Cussons Fresh, PZ Wilmar, our JV, JV, our Wilmar, PZ % project for Nigeria Nigeria for project of the disposal of Nutricima, our Nigerian milk milk Nigerian our Nutricima, of disposal the of operating profit profit operating

, Ghana and and Ghana , Operations

Simplification Simplification Completion Adjusted Adjusted Kenya In Nigeria, Morning Morning Nigeria, In

Operating margin Operating

Adjusted operating profit operating Adjusted Revenue

Continuing Africa PZ Cussons Plc

Interim results | 30 Nov 2020 10 Asia BD Asia Nigeria Beauty UK Beauty UK UK

Nigeria US & UK Beauty ANZ Nigeria ANZ Electricals Indonesia Nigeria UK Brands in growth Brands

out of 14 Focus 14 of out Focus

9 Focus Brands Performance Brands Focus PZ Cussons Plc

Interim results | 30 Nov 2020 11 price mix impacted by by impacted mix price by High Street decline offset by reduced promotional spend and US US and spend promotional reduced by offset decline Street High by sanitisers

Home Care driven by increased demand for dish in Nigeria and Australia with with Australia and Nigeria in dish for demand increased by levels. driven Care promotion Home detergents and sales geographical Beauty volumes impacted impacted volumes Beauty performance Personal Care driven by higher hand wash volumes, reduced promotional spend and improvement in mix mix in improvement and spend promotional reduced volumes, wash hand higher by driven Care Personal hand to due H1 Revenue growth H1 Revenue Care in Personal performance strong by Driven PZ Cussons Plc

Interim results | 30 Nov 2020 12

Investment in capabilities to expand both online and traditional distribution as well as increased investment increased as well as market distribution parallel on traditional and currency of online both purchase in expand to resulted capabilities economy in Nigerian in Investment Dollars US of liquidity of Absence risk sheet balance future remove to Underlying business improvement driven by focus brand growth and improved price / mix / price improved and growth brand focus by driven improvement business revenue Underlying Group of 5%+ reaching spend, marketing in Increase

Improvement offset by marketing & capability investment and FX FX and & capability investment marketing by offset Improvement Operating Margin Operating PZ Cussons Plc

Interim results | 30 Nov 2020 13 30 Net debt debt Net 2020 Nov low. low. Other dividend. final final Capex payment of of payment Dividends Taxation Sale of of Sale Brand Polish ratio of 0.2 times and financing headroom of £217m of headroom financing and times 0.2 of ratio Sale of of Sale Nutricima Assets Working Working capital free cash flow of £33m versus £21.6m versus £33m of flow cash free Operating Operating flow cash WC) (ex

Net debt to adjusted EBITDA adjusted to debt Net Total Working capital improved on back of stock and debtors reduction. Capex investment remained remained investment Capex reduction. debtors and stock of back on of improved timing capital and Working brand Polish and Nutricima of sale of impact Positive 30

Continued Focus given external volatility external given Focus Continued Net Net Debt Net debt debt Net 2019 Nov

PZ Cussons Plc

Interim results | 30 Nov 2020 14

Progress update Progress FY21 INTERIM RESULTS PZ Cussons Plc

Interim results | 30 Nov 2020 15 Liquidity Service Customer Customer ommunities participation in UK Furlough or commercial paper scheme paper commercial or Furlough UK in participation - C Support for our our for Support reaction from employees from reaction Continuity Supply Chain

19 -

Early repayment of VAT relief in UK and non and UK in relief VAT of repayment Group the Early throughout liquidity on focus strong Continued Increased capital investment in UK manufacturing to reduce sourcing risk sourcing reduce to brands manufacturing UK Fresh in Morning investment and Carex capital under Increased products innovative market to new of Acceleration Continued magnificent open magnificent partially Continued or closed offices with continued has Manufacturing

Employees

Safeguard our Safeguard

Remains the key risk organisation and opportunity for the key Remains COVID

PZ Cussons Plc

Interim results | 30 Nov 2020 16

Finalisation of new strategy new of Finalisation Accelerated progress on improving capabilities in marketing, digital and revenue management management revenue and digital marketing, in capabilities improving on progress Accelerated

Maintained fast start mind set mind start fast Maintained Progress update Progress PZ Cussons Plc

Interim results | 30 Nov 2020 17 March 2021 March th 25 –

of brand building model to deliver sustainable growth sustainable deliver to model building brand of

Building internal capability and culture to drive change drive to culture and capability internal Building Dramatically reduce complexity and enable transformation and complexity reduce Dramatically

Sustainability at the heart of what we do we the heart of what at Sustainability Implementation

Consumer centric with Hygiene, Baby and Beauty at core our at Beautyand Baby Hygiene, with centric Consumer Strategy Update Update Strategy PZ Cussons Plc

Interim results | 30 Nov 2020 18 19, Consumer and cost pressure cost and Consumer 19, -

volatile in H2 related to COVID to related in H2 volatile landscape remains highly remains landscape

Move from strategy review to execution to review strategy from Move

expect to perform in line with the current range of market expectations for this financial this financial year. for expectations market of range current with the in line perform to expect Assuming no material change to anticipated COVID restrictions or resulting consumer behaviour, we we behaviour, consumer or resulting restrictions COVID anticipated to change material no Assuming

Plan to continue to increase investment in building brands and capabilities and brands in building investment increase to continue to Plan Operating Operating

H1 strong set of results delivering growth and step up in investment in up step and growth delivering results of set H1 strong Outlook Thank you