1. A finance perspective of the year John Bason 7 December 2012 Annual General Meeting

2. A year of strong growth 2 Group revenueup 11%£12.3bn Adjusted operating profitup 17%£1.08bn Adjusted earnings per shareup 18%87.2p Dividends per shareup 15%28.5p

3. Substantial cash flow 3 £m Adjusted operating profit before depreciation and amortisation1,466 Used by businesses Net capital investment Working capital (707) 43 (664) Tax(191) Net interest(98) Other(68) Free cash flow445

4. Group financial strength Conservative level of debt – reduced to £1.06bn Well-funded pension arrangements – modest deficit Diversified sources of funding 4

5. Business highlights Profit –growth driven by Sugar, Primark and Twinings Ovaltine –another good year for Agriculture –restructuring in Australia and Ingredients Improvement in group profit margin and return on capital 5