Unification of Unilever's Corporate Structure - Court Approval

London/Rotterdam, 2 November 2020

Unilever announces that the UK High Court has today approved the Cross-Border Merger between Unilever PLC and Unilever NV, pursuant to Regulation 16 of The Companies (Cross-Border Mergers) Regulations 2007. Upon the Cross-Border Merger becoming effective, Unilever’s existing dual-parent holding company structure will be unified and Unilever PLC will become the single parent company of the Unilever Group (“Unification”).

Subject to the terms of the order of the UK High Court, the Cross-Border Merger and Unification are expected to become effective on 29 November 2020, upon which NV Shareholders and NV NYRS Holders (excluding Withdrawing Shareholders) will receive one New PLC Share or New PLC ADS in exchange for each NV Share or NV NYRS held. The expected timetable of principal events for the implementation of Unification is as follows:

Principal eventsExpected time and/or date

*Pursuant to the order of the UK High Court, Unilever PLC and Unilever NV have provided undertakings to the UK High Court that a further announcement will be made should the Boards under the terms of such order determine, prior to 29 November 2020, not to proceed with Unification on the basis that it would no longer be in the best interests of Unilever PLC, Unilever NV and their shareholders and other stakeholders as a whole due to actual or potential changes in tax legislation in the Netherlands.

Full details of the terms of Unification are set out in the Circular published on 10 August 2020. Capitalised terms used but not defined in this announcement have the meanings set out in the Circular.

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