KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE

Page 1 <amp-img class='cut-thumb gotoPage' alt='Page 1: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/1.jpg' width="142" height="106" layout="responsive"> Page 2 <amp-img class='cut-thumb gotoPage' alt='Page 2: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/2.jpg' width="142" height="106" layout="responsive"> KEEP

CHANGE

TALENTS ORGANI -ZATION CULTURE

Page 3 <amp-img class='cut-thumb gotoPage' alt='Page 3: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/3.jpg' width="142" height="106" layout="responsive"> Page 4 <amp-img class='cut-thumb gotoPage' alt='Page 4: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/4.jpg' width="142" height="106" layout="responsive"> MULTIPLE DANONE VOICES

DUPLICATION OF EFFORTS LACK OF SYNERGIES

NO COLLECTIVE APPROACH ON TALENTS

NEED FOR GREATER EXPERTISE

Page 5 <amp-img class='cut-thumb gotoPage' alt='Page 5: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/5.jpg' width="142" height="106" layout="responsive"> Page 6 <amp-img class='cut-thumb gotoPage' alt='Page 6: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/6.jpg' width="142" height="106" layout="responsive"> Finance HR General

Secretary IS IT

Page 7 <amp-img class='cut-thumb gotoPage' alt='Page 7: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/7.jpg' width="142" height="106" layout="responsive"> •

•

Page 8 <amp-img class='cut-thumb gotoPage' alt='Page 8: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/8.jpg' width="142" height="106" layout="responsive"> Page 9 <amp-img class='cut-thumb gotoPage' alt='Page 9: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/9.jpg' width="142" height="106" layout="responsive"> Page 10 <amp-img class='cut-thumb gotoPage' alt='Page 10: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/10.jpg' width="142" height="106" layout="responsive"> Page 11 <amp-img class='cut-thumb gotoPage' alt='Page 11: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/11.jpg' width="142" height="106" layout="responsive"> Page 12 <amp-img class='cut-thumb gotoPage' alt='Page 12: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/12.jpg' width="142" height="106" layout="responsive"> Page 13 <amp-img class='cut-thumb gotoPage' alt='Page 13: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/13.jpg' width="142" height="106" layout="responsive"> Page 14 <amp-img class='cut-thumb gotoPage' alt='Page 14: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/14.jpg' width="142" height="106" layout="responsive"> Page 15 <amp-img class='cut-thumb gotoPage' alt='Page 15: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/15.jpg' width="142" height="106" layout="responsive"> Page 16 <amp-img class='cut-thumb gotoPage' alt='Page 16: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/16.jpg' width="142" height="106" layout="responsive"> Page 17 <amp-img class='cut-thumb gotoPage' alt='Page 17: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/17.jpg' width="142" height="106" layout="responsive"> Page 18 <amp-img class='cut-thumb gotoPage' alt='Page 18: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/18.jpg' width="142" height="106" layout="responsive"> Page 19 <amp-img class='cut-thumb gotoPage' alt='Page 19: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/19.jpg' width="142" height="106" layout="responsive"> Page 20 <amp-img class='cut-thumb gotoPage' alt='Page 20: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/20.jpg' width="142" height="106" layout="responsive"> Page 21 <amp-img class='cut-thumb gotoPage' alt='Page 21: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/21.jpg' width="142" height="106" layout="responsive"> Page 22 <amp-img class='cut-thumb gotoPage' alt='Page 22: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/22.jpg' width="142" height="106" layout="responsive"> KEEP

CHANGE

TALENTS ORGANI -ZATION CULTURE ORGANI -ZATION CULTURE

Page 23 <amp-img class='cut-thumb gotoPage' alt='Page 23: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/23.jpg' width="142" height="106" layout="responsive"> Page 24 <amp-img class='cut-thumb gotoPage' alt='Page 24: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/24.jpg' width="142" height="106" layout="responsive"> Page 25 <amp-img class='cut-thumb gotoPage' alt='Page 25: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/25.jpg' width="142" height="106" layout="responsive"> Page 26 <amp-img class='cut-thumb gotoPage' alt='Page 26: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/26.jpg' width="142" height="106" layout="responsive"> Page 27 <amp-img class='cut-thumb gotoPage' alt='Page 27: KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE' src='https://reader036.cupdf.com/reader036/viewer/2022081820/5aec257b7f8b9ac3619012d3/html5/thumbnails/27.jpg' width="142" height="106" layout="responsive"> KEEP

CHANGE

TALENTS ORGANI -ZATION CULTURE

KEEP - Danonestaging.62.danone.com/fileadmin/user_upload/Investisseurs/... · International Code Of Marketing of Bmzst-milk Substitutes INVESTOR SEMINAR 2015 EVIAN DANONE . DANONE

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