Nestlé SA Company Profile

Nestlé SA

Company Profile

Publication Date: 24 Jun 2011

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Nestlé SA

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Nestlé SA
TABLE OF CONTENTS

TABLE OF CONTENTS

Company Overview..............................................................................................4
Key Facts...............................................................................................................4
Business Description...........................................................................................5
History...................................................................................................................7
Key Employees...................................................................................................12
Key Employee Biographies................................................................................14
Major Products and Services............................................................................23
Revenue Analysis...............................................................................................25
SWOT Analysis...................................................................................................27
Top Competitors.................................................................................................33
Company View.....................................................................................................34
Locations and Subsidiaries...............................................................................38

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Nestlé SA
Company Overview

COMPANY OVERVIEW

Nestle (or ‘the company’) is the largest food and beverage company in the world. The company's
products include beverages, milk based products, ice creams, prepared dishes, and pharmaceutical
products. Its key brands include Nestle, Nespresso, Maggi, Buitoni, Stouffer's, Dreyer's, KitKat,
Purina and Friskies among others. Nestle primarily operates in Europe, the Americas, Asia, Oceania
and Africa. The company is headquartered in Vevey, Switzerland and employs about 281,000 people.

The company recorded revenues of CHF109,722 million ($105,311.2 million) during the financial
year ended December 2010 (FY2010), an increase of 2% over 2009. The operating profit of the
company was CHF16,194 million ($15,543 million) in FY2010, an increase of 3.2% over 2009. The
net profit was CHF34,233 million ($32,856.8 million) in FY2010, compared to CHF10,428 million
($10,008.8 million) in 2009.

KEY FACTS

Head Office Nestlé SA
Avenue Nestle 55
1800 Vevey
CHE
Phone 41 21 924 2111
Fax
Web Address http://www.nestle.com
Revenue / turnover 109,722.0
(CHF Mn)
Financial Year End December
Employees 281,000
Six Swiss Exchange NESN
Ticker

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Nestlé SA
Business Description

BUSINESS DESCRIPTION

products. Nestle operates in Europe, the Americas, Asia and Africa.

Nestle's primary operating segments are divided into three geographic zones and four globally
managed businesses.

The three geographic zones are Zone Americas, Zone Europe, and Zone Asia, Oceania and Africa.

Zone Americas comprises of the operations in the US, Canada, Latin America and Caribbean regions.
Zone Europe includes the company’s operations in Central, Western, and Eastern Europe. Zone
Asia, Oceania and Africa include the company’s businesses across Asia-Pacific, Africa, and Middle
East.The company’s major product divisions in these regions includes powdered and liquid beverages,
milk products and ice cream, prepared dishes and cooking aids, confectionery, and pet care products.

Apart from these geographic divisions, the company's four globally managed businesses include
Nestle Waters, Nestle Nutrition, other food and beverages, and pharmaceutical products.

The Nestle Waters division produces and markets bottled water under Pure Life, Aquarel, Acqua
Panna, Vittel, and Vera brand names among others. The division operates nearly 100 production
sites in 36 countries and offers a portfolio of 64 bottled water brands.

The Nestle nutrition business comprises four sub-business divisions: infant nutrition, healthcare
nutrition, performance nutrition, and weight management. The key products in the infant sub division
include cereals, meals and drinks for babies and infants, which the company markets under Nestle,
Nestum, Mucilon, Cerelac, and Gerber brand names. The healthcare sub division primarily offers
nutritionally enriched food products and drinks under Nutren, Clinutren, Boost, Peptamen and
Modulen brand names. The performance nutrition division provides sports nutrition products under
PowerBar and Musashi brand names. Jenny Craig is a weight management company offering
consumers a range of branded nutritional products and services in the US, Canada, Australia and
New Zealand.

Other food and beverages division primarily includes Nestle Professional, Nespresso and food and
beverages joint ventures managed on a worldwide basis. Nestle Professional is a globally managed
business offering Nestle’s branded products in international market.

The pharmaceutical products division of Nestle includes the joint-ventures with pharmaceutical and
cosmetic companies such as L'Oreal, Galderma and Laboratories Inneov. Nestle also operates
through nine divisions that are organized along product groups. These include: powdered and liquid
beverages; milk products and ice cream, prepared dishes and cooking aids, pet care, confectionary,
nutrition, water, Alcon, and health and beauty joint ventures.

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Nestlé SA
Business Description

The key products in the powdered and liquid beverages division include coffee, chocolate-based
and malted drinks, bottled water, and fruit juices. Its key coffee product brands include Nescafe and
Nespresso. Nescafe, the flagship soluble coffee product of this division, is one of the leading brands
in the world. The company's coffee range also includes Nespresso (espresso coffee in capsules).
Nestle also produces chocolate-based and malted drinks. Its leading brands include Nesquik and
Milo. Nestle also produces fruit juices under the brand names Juicy Juice (formerly known as Libby's)
and iced tea under Nestea brand name.

The milk products and ice cream division offers diary-based products. The milk products division
produces powdered milk, yoghurts and desserts among others. Its popular brands include
Coffee-Mate, Nido, Carnation, and La Laitiere. The ice cream business division offers products such
as ice cream tubs, waffle cones, and ice cream bars. The company key brands in this segment
include Haagen-Dazs, Movenpick, Extreme, and Dreyer's.

The prepared dishes and cooking aids division includes frozen and chilled, culinary and other
businesses. Its popular brands include Buitoni, pasta and sauce ingredients; Herta, packaged meals;
Hot Packets, frozen sandwiches; Lean Cuisine, low-fat packaged meals; Maggi, noodles, soups and
seasonings products; Stouffer's, frozen entrees and side dishes; and Thomy branded mayonnaise,
mustard, dressings, sauces, oils, and spreads. This division also includes the breakfast cereals
business of Nestle that produces cereal and performance bars and cereals catering to a wide range
of age groups. The major brands include Chocapic, Cini Minis, Cookie Crisp, and Fitness.

The pet care products division offers food products for cats and dogs. The company offers these
products under Purina, Friskies, Fancy Feast, Alpo, Gourmet, Felix, Dog Chow, Cat Chow, Pro Plan,
and Purina One brand names.

The confectionery division primarily offers chocolates and chocolate based candies. The segment's
products are offered under Aero, Butterfinger, Cailler, Crunch, Kit Kat, Orion, and Smarties brand
names.

Nutrition based products includes cereals, meals and drinks for babies and infants; nutritionally
enriched food products and drinks; and sports nutrition products. In addition, the company also offers
weight management programs under Jenny Craig brand name.

Nestle Pure Life, under the Nestle Waters segment, is the biggest water brand in the world.

*Alcon develops, manufacture and markets ophthalmic pharmaceuticals, ophthalmic surgical
equipment and devices, contact lenses, contact lens care products and other eye care products.
Health and beauty joint ventures include the joint-ventures with pharmaceutical and cosmetic
companies.

*Nestle disposed Alcon in August 2010.

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Nestlé SA
History

HISTORY

Nestle (or ‘the company’) was established in 1866, by a pharmacist, Henri Nestle, as a producer of
food for babies who were unable to be breastfed. The first product from Nestle was called Farine
Lactee Henri Nestle. With infant milk forming the backbone of its expansion abroad, the company
was operating factories in the US, the UK, Germany and Spain in early 1900s. In 1905, Nestle
merged with the Anglo-Swiss Condensed Milk Company and was known as Nestle and Anglo-Swiss
Milk Company. In 1907, the company began manufacturing in Australia, and warehouses were built
in Singapore, Hong Kong and India to supply rapidly growing Asian markets.

In the 1920s, Nestle expanded its horizon beyond its traditional product line. The manufacture of
chocolate became the company's second most important activity. New products were launched like
malted milk, a powdered beverage called Milo, powdered buttermilk for infants. In 1938, Nestle
introduced its first instant coffee, Nescafe, followed by Nestea in the 1940s. The close of World War
II marked the beginning of the most dynamic phase of Nestle's history. During this period, Nestle's
growth was based on its policy of diversifying within the food sector to meet the needs of consumers.
In 1947, Nestle merged with Alimentana, the manufacturer of Maggi seasonings and soups, thereby
becoming Nestle Alimentana Company. The acquisition of Crosse & Blackwell, a UK manufacturer
of preserves and canned foods, followed in 1950, as did the purchase of Findus frozen foods (1963),
Libby's fruit juices (1971) and Stouffer's frozen foods (1973). The development of freeze-drying led
to the introduction of Taster's Choice instant coffee, in 1966.

Nestle diversified for the first time outside the food industry in 1974 and became a major shareholder
in L'Oreal, a cosmetics manufacturer. In the late 1970s, Nestle started its second venture outside
the food industry by acquiring Alcon Laboratories, a US manufacturer of pharmaceutical and
ophthalmic products. In 1977, a consumer boycott of Nestle's products was launched in the US by
Infant Formula Action Coalition due to concerns over Nestle's marketing of breast milk substitutes.
The boycott eventually spread to 20 countries in Europe, North America and South America. Between
1980 and 1984, the company underwent a process of reorganization wherein it divested a number
of non-strategic or unprofitable businesses. In 1985, Nestle acquired American food giant, Carnation.

Nestle formed a joint venture with The Coca-Cola Company (TCCC) called Coca-Cola and Nestle
Refreshments (CCNR) in 1991. As trade barriers crumbled in the first half of the 1990s, Nestle was
set for a new round of consolidation. Beginning in 1997, the company acquired the Italian mineral
water concern, San Pellegrino, followed by Spillers Pet foods of the UK in 1998. The decision to
divest the Findus frozen food brand was made in 1999. In 2002, Nestle completed the acquisition
of the American pet food producer, Ralston Purina. The company was later renamed as Nestle
Purina Petcare.

In the same year, Nestle sold its subsidiary, Food Ingredients Specialties to Givaudan to concentrate
on its consumer businesses. Further in 2002, the European Union approved Nestle's takeover of
Schoeller Holding Group, enhancing the company's ice cream portfolio with interests in Germany
as well as North and Central Europe. Later in 2002, Nestle Italiana agreed to sell its Sasso brand

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History

to Minerva Agricola Alimentare. The company also formed Life Ventures, a venture capital fund, in
2002 to provide access to new science and technology relating to food and nutrition.

Nestle signed an agreement with the Movenpick Group, in early 2003, to acquire the Movenpick
brand for ice cream products and related ice cream businesses worldwide with the exception of the
New Zealand manufacturing operations. During the same year, Nestle further expanded its ice-cream
business with the merger of its US ice cream business with Dreyer's and obtaining ownership of
67% of the new entity. The deal took over a year to gain FTC approval, and saw Nestle agree to
dispose of the Dreamery, Godiva and Whole Fruit sorbet brands and some distribution assets.

In 2004, Nestle launched a global center for culinary research in Singen, Germany. The Nestle
Product Technology Center (PTC) at Singen involved an investment of CHF34.5 million. In the same
year, Nestle's 49% owned subsidiary, Gesparel, merged with L'Oreal, in which it was a major
shareholder. As a result of the merger, Nestle's stake in Gesparel was converted to a 26.4% direct
holding in L'Oreal.

Nestle and Cargill signed an agreement wherein Nestle agreed to sell its cocoa bean processing
activities in York, the UK and in Hamburg, Germany to Cargill in 2004. The company later announced
that it had reached an agreement with German Equity Partners II (GEP) for the sale of the Eismann
(a home delivery subsidiary of Nestle with operations in Germany, Italy, France, Spain, Switzerland,
the Netherlands, Belgium and Austria) to an investor group led by GEP. Nestle and Coca Cola also
announced the creation of a 50/50 joint venture in Indonesia called Water Partners Bottling (WPB).
WPB in turn acquired a 65% share of PT AdeS Alfindo Putrasetia (AAPS), a bottled water company
in Indonesia. In late 2004, Nestle Deutschland acquired a 49% stake in Wagner Tiefkuhlprodukte,
a German frozen pizza company with a 33% market share.

In 2005, Nestle Waters announced the creation of a partnership with the Zahaf Brothers, owners of
the Boissons Gazeuses des Freres Zahaf Group (BGFZ), one of the leading players in the beverage
product category in Algeria. Nestle Waters and the Zahaf Brothers formed a joint stock company
called Societe Source de Taberkachent (SST), with Nestle Waters holding 51% of the capital. SST
in turn took over all of the BGFZ Group's bottled water business and the Sidi El Kebir water brand.

Later in the year, Nestle Australia announced that it would cease to manufacture milk powder. As a
result of an agreement with Fonterra, Nestle Australia bought a range of powdered milk products
from Fonterra, which in turn took over the collection of milk from about 420 farmers in Victoria State
and acquired the Dennington milk factory. Simultaneously, Nestle Australia restructured its Tongala
(Victoria) milk factory, ceased its milk powder production and continued to manufacture only liquid
milk products. At the same time, in the Netherlands, Nestle's Gorinchem powdered milk factory was
acquired by a Dutch entrepreneur, Mr. Jaap Vreugdenhill.

Nestle acquired Delta Ice Cream in 2005. Delta Ice Cream had operations in Greece as well as
Bulgaria, Macedonia, Romania, Serbia and Montenegro. In the same year, the company announced
that it was forming a joint venture with French-based Groupe Lactalis to enhance its business in the
chilled dairy sector in Europe.

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History

The company started reporting results of globally managed nutrition activities (Nutrition) separately
from the company's geographic zones in 2006. As a consequence, the 2005 geographic segment
information was restated. During the same year, the company created W. Health, a fund to invest
in companies active in health, well-being and nutrition as an external complement to Nestle's own
internal research and development competencies. Additionally, the company's subsidiary in Australia
acquired Uncle Tobys, a food company engaged in breakfast cereals, nutritious snacks and instant
soups, during the same time. This acquisition gave Nestle Australia the leading position in nutritious
snacks.

Further, in 2006, Nestle acquired Jenny Craig, a weight management company offering consumers
a range of branded nutritional products and services in the US, Canada, Australia and New Zealand.
During the same year, Nestle Nespresso, a strategic business unit of Nestle, announced that the
company would open a new coffee Production-Distribution Centre in Avenches, Switzerland. In the
same year, Nestle also signed an agreement to sell certain of its canned liquid milk businesses to
Fraser & Neave Holdings Berhad (F&N), a Singapore-based company. Further, in 2006, the Nestle
Research Center (NRC) and Ecole Polytechnique Federale de Lausanne (EPFL) signed a five-year
agreement to conduct research on the relationship between nutrition and the brain. Under this
agreement, Nestle would contribute CHF5 million per year ($4.1 million) for the research.

Nestle announced that it has agreed to acquire the entire medical nutrition business of Novartis for
$2,500 million towards the end of 2006. Nestle and Barry Callebaut broadened their strategic
co-operation in Europe in 2007. This included transfer of production facilities in Italy and France, as
well as a long-term supply contract for Barry Callebaut to furnish chocolate mass to Nestle chocolate
factories in Russia.

In 2007, the company opened a milk processing plant with a processing capacity of 2 million liters
of milk per day, in Pakistan. During the same year, Nestle and The Coca-Cola Company (TCCC)
reached a final agreement on refocusing the activities of their Beverage Partners Worldwide (BPW)
joint venture. Under the terms of the agreement, BPW would cover the total ready-to-drink tea
category worldwide except in the US and Japan. In this connection, Nestle licensed its Nestea and
Enviga brands to TCCC in the US and to BPW for the rest of the world.

The company completed the acquisition of Gerber, a US baby food brand, from Novartis during
2007. It also signed an agreement with Rouge family, the majority shareholder of Sources Minerales
Henniez, on the acquisition by Nestle of 61.6% of the company's shares during the same period.
Further, in 2007, Nestle Rossiya, the company's Russian subsidiary, acquired Ruzskaya Confectionery
Factory (RKF), a leading premium chocolate producer in Russia. RKF offered a wide range of
chocolate products under the Comilfo and Ruzanna brands. Also, during the same year, Nestle
entered into a strategic partnership with Pierre Marcolini, Brussels-based luxury chocolate maker.

In 2008, Nestle established Chocolate Centre of Excellence, the company's first R&D facility entirely
dedicated to the development of premium and luxury chocolate, at its chocolate factory in Broc
(Switzerland).

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Nestlé SA
History

The company opened a Nestle Nutrition facility in Konolfingen, Switzerland, in early 2008. The plant
would produce new-generation probiotic infant formula under the NAN brand. Further, during the
same period, the company sold 24.85% of Alcon's issued and outstanding capital to Novartis for
approximately $11,000 million in cash. In late 2008, Nestle recalled a UHT pure milk product in Hong
Kong after samples containing a tiny amount of the chemical melamine were discovered in the
product.

Towards the end of 2008, Nestle opened the new Nestle Professional Customer Innovation Campus
in Solon, Ohio, dedicated to the development of culinary food solutions for the out-of-home business.
During the same period, Nestle pulled out its Farinha Lacetea cereal from US store shelves due to
potential traces of pesticide, which is currently not approved for use on US wheat.

In 2009, Nestle and The Coca-Cola Company (TCCC) agreed to pay $650,000 as part of a pact with
27 states to resolve a marketing dispute over claims their Enviga-brand green tea, a beverage
developed by TCCC and Nestle, burns extra calories resulting in weight loss. During the same period,
The Hellenic Competition Commission fined Nestle E30 million ($27.8 million) for 'abusing' its
dominant position in the instant coffee market.

Nestle launched a ready-to-drink aseptic products factory in Anderson, Indiana during 2009. The
launch gave it a platform to leverage its nutrition, health and wellness strategy. During the same
period, the company inaugurated a new research and development centre in Abidjan, West Africa
to focus on improving the quality of locally-sourced raw materials, including cocoa, coffee and
cassava, and on adapting products to the nutritional needs and tastes of West African consumers.

In Japan, Nestle launched its first Japan-based research unit for fundamental scientific research in
2009. The research unit, part of Nestle Science and Research in Switzerland, would focus on
fundamental research in nutrition and health. In late 2009, Nestle inaugurated the world's largest
bouillon factory in Shanghai, China to provide the needed capacity to meet the growing demand for
Totole, one of the leading bouillon brands in China. Towards the end of 2009, Nestle Professional
announced an agreement to acquire Vitality Foodservice Inc., one of North America's beverage
solution providers to the foodservice industry.

In January 2010, the company sold its stake in Alcon, representing around 52% of the company's
issued and outstanding share capital for a total of around $28,000 million in cash to Novartis.

In March 2010, Nestle completed the acquisition of Kraft Foods' frozen pizza business. Nestle
announced the launch of its Jenny Craig weight management programme in France in March 2010
and in UK in April 2010.

Nestle launched Special.T, a tea machine system, in May 2010. It underlines the company’s increasing
presence in the beverage machine market beginning with Nespresso.

In August 2010, Nestle acquired Vitaflo, a Liverpool-based global provider of clinical nutritional
products. The acquisition allows Nestle to enter the fast-growing global market for clinical nutrition

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History

products customized for people with inherited metabolic disorders. In the same month, the company
completed the sale of its remaining shares in Alcon to Novartis.

The company announced the agreement to acquire the Waggin’ Train dog snacks business in the
US in September 2010. Waggin’ Train is a leading marketer in the fast growing real-meat dog snacks
segment. In the same month, the company announced the establishment of a research and
development (R&D) center in India. The facility will be built in Manesar, close to Nestle India’s
headquarters in Gurgaon, and will be operational in 2012. Further in the month, the company
established Nestle Health Science and the Nestle Institute of Health Sciences. These two separate
organizations will develop the innovative area of personalized health science nutrition to prevent
and treat health conditions such as diabetes, obesity, cardiovascular disease and Alzheimer’s
disease.

During April 2011, Nestle signed a partnership agreement resulting in a 60% stake in the Chinese
food company Yinlu Foods Group. The following month, Nestle Health Science acquired Prometheus
Laboratories, a San Diego-based company. Prometheus specializes in diagnostics and in-licensed
specialty pharmaceuticals in gastroenterology and oncology and focuses on conditions such as
inflammatory bowel diseases, including Crohn’s disease and ulcerative colitis.

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Key Employees

KEY EMPLOYEES

Name Job Title Board Compensation
Paul Bulcke Chief Executive Officer Executive Board 10572493 CHF
Werner J. Bauer Executive Vice President, Chief Executive Board
Technology Officer, and Head,
Innovation, Technology, Research
and Development
Frits Van Dijk Executive Vice President and Zone Executive Board
Director, Asia, Oceania, Africa and
Middle East
Jose Lopez Executive Vice President, Executive Board
Operations, GLOBE (Global
Business Excellence, IS/IT)
John J. Harris Executive Vice President and Executive Board
Chairman and Chief Executive
Officer, Nestle Waters
James Singh Executive Vice President, Finance Executive Board
and Control, Legal, IP, Tax, Global
Nestle Business Services
Laurent Freixe Executive Vice President and Zone Executive Board
Director, Europe
Chris Johnson Executive Vice President and Zone Executive Board
Director, US, Canada, Latin America
and Caribbean
Patrice Bula Executive Vice President Executive Board
Marc Caira Deputy Executive Vice President Executive Board
and Chief Executive Officer, Nestle
Professional
Jean-Marc Duvoisin Deputy Executive Vice President Executive Board
and Head, Human Resources and
Centre Administration
Nandu Nandkishore Deputy Executive Vice President Executive Board
and Head, Nestle Nutrition
David P. Frick Senior Vice President, Corporate Executive Board
Governance, Compliance and
Corporate Services
Peter Brabeck-Letmathe Chairman Non Executive Board 8326344 CHF
Andreas Koopmann First Vice Chairman Non Executive Board 600910 CHF
Rolf Hanggi Second Vice Chairman Non Executive Board 610380 CHF
Jean Rene Fourtou Director Non Executive Board 506438 CHF
Daniel Borel Director Non Executive Board 374131 CHF

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Key Employees

Name Job Title Board Compensation
Jean Pierre Meyers Director Non Executive Board 317402 CHF
Andre Kudelski Director Non Executive Board 374131 CHF
Carolina Muller-Mohl Director Non Executive Board 317402 CHF
Steven George Hoch Director Non Executive Board 317402 CHF
Naina Lal Kidwai Director Non Executive Board 374131 CHF
Beat Hess Director Non Executive Board 374131 CHF
Titia de Lange Director Non Executive Board 279613 CHF
Jean-Pierre Roth Director Non Executive Board 279613 CHF
Ann Veneman Director Non Executive Board

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Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

Paul Bulcke

Board: Executive Board
Job Title: Chief Executive Officer
Since: 2008
Age: 57

Mr. Bulcke has been the Chief Executive Officer at Nestle since 2008. Prior to this, he served as
the Executive Vice President and Zone Director for Americas from 2004-08. Previously, Mr. Bulcke
worked in numerous positions at Nestle including marketing, sales and division functions at Nestle
Peru, Nestle Ecuador and Nestle Chile from 1980 to 1996, and as Managing Director at Nestle
Portugal from 1996 to 1998. He was the Managing Director at Nestle Czech and Slovak Republic
from 1998 to 2000, then until 2003 he was Managing Director at Nestle Germany. Prior to joining
Nestle in 1979, Mr. Bulcke was a Financial Analyst at Scott Graphics International from 1977-1979.

Werner J. Bauer

Job Title: Executive Vice President, Chief Technology Officer, and Head, Innovation, Technology,
Research and Development
Since: 2007
Age: 61

Mr. Bauer has been the Executive Vice President, Chief Technology Officer, and Head, Innovation,
Technology, Research and Development at Nestle since 2007. He was the Head of Nestle Research
Center in 1990 and in 1996 was appointed Head of Nestle Research and Development. Mr. Bauer
later became Technical Manager, Nestle Southern and Eastern Africa Region. In 2000, he became
Region Head, Nestle Southern and Eastern Africa Region. In 2002, Mr. Bauer was appointed
Executive Vice President, Head of Corporate Technical, Production and Research and Development.
Previously, he worked as a Professor, Chemical Engineering at the Technical University, Hamburg.

Frits Van Dijk

Job Title: Executive Vice President and Zone Director, Asia, Oceania, Africa and Middle East
Since: 2005
Age: 64

Mr. Dijk has been the Executive Vice President and Zone Director, Asia, Oceania, Africa and Middle
East at Nestle since 2005. He became a Sales Representative for Nestle UK in 1970. Following this,

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Mr. Dijk worked as Assistant to Managing Director at Nestle India and as Product Manager at Nestle
Philippines. In 1979, he joined the Marketing Beverage Division, and later became Marketing Manager,
Nestle Sri Lanka. In 1987, Mr. Dijk was appointed Chief Operating Officer at Nestle Malaysia and
the following year he was appointed as Managing Director at Nestle Malaysia. He was appointed
Managing Director at Nestle Japan in 1995. Mr. Dijk became Chairman and Chief Executive Officer
at Nestle Waters Worldwide in 2000.

Jose Lopez

Job Title: Executive Vice President, Operations, GLOBE (Global Business Excellence, IS/IT)
Since: 2008
Age: 59

Mr. Lopez has been Executive Vice President, Operations, GLOBE (Global Business Excellence,
IS/IT) at Nestle since 2008. Previously, he served as Chief Executive Officer at Nestle Japan Group.
In addition, Mr. Lopez was Managing Director at Nestle Malaysia, Head of Region Malaysia/Singapore,
and Executive Director of Operations in Oceania in charge of technical division, supply chain
operations and export. He also served as Technical Director at Nestle Australia. Mr. Lopez currently
serves as the Chairman at Nestrade and Vice Chairman of GS1.

John J. Harris

Job Title: Executive Vice President and Chairman and Chief Executive Officer, Nestle Waters
Since: 2007
Age: 60

Mr. Harris has been Executive Vice President, Chairman and Chief Executive Officer, Nestle Waters
at Nestle since 2007. In 2002, he was appointed Chief Executive Officer of Nestle Purina PetCare
Europe. Mr. Harris has served at Carnation Company as Marketing Management Trainee, among
others.

James Singh

Job Title: Executive Vice President, Finance and Control, Legal, IP, Tax, Global Nestle Business
Services
Since: 2008
Age: 65

Mr. Singh has been Executive Vice President, Finance and Control, Legal, IP, Tax, Global Nestle
Business Services at Nestle since 2008. From 2000 till 2008, he served as Senior Vice President,

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Acquisitions and Business Development. From 1995 until 2000, Mr. Singh served as Executive Vice
President and Chief Financial Officer, Nestle Canada.

Laurent Freixe

Job Title: Executive Vice President and Zone Director, Europe
Since: 2008
Age: 48

Mr. Freixe has been Executive Vice President and Zone Director, Europe at Nestle since 2008. In
1999, he was appointed Head of the Nutrition Division, Nestle France and became Market Head of
Nestle Hungary in 2003. In 2007, Mr. Freixe was appointed Market Head of the Iberian region taking
responsibility for Spain and Portugal.

Chris Johnson

Job Title: Executive Vice President and Zone Director, US, Canada, Latin America and Caribbean
Since: 2011
Age: 40

Mr. Johnson has been the Executive Vice President and Zone Director, US, Canada, Latin America
and Caribbean at Nestle since 2011. He served in various capacities at Nestle including Market
Head, Nestle Japan; Deputy Executive Vice President, Nestec; and Market Head, Nestle Taiwan.

Patrice Bula

Job Title: Executive Vice President
Since: 2011
Age: 55

Mr. Bula has been the Executive Vice President at Nestle since 2011. He is responsible for the
Strategic Business Units, Marketing, Sales and Nespresso. Earlier, Mr. Bula served as the Market
Head, Nestle Greater China Region and Market Head, Nestle Germany.

Marc Caira

Job Title: Deputy Executive Vice President and Chief Executive Officer, Nestle Professional
Since: 2006
Age: 57

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Nestlé SA

Mr. Caira has been the Deputy Executive Vice President and Chief Executive Officer, Nestle
Professional at Nestle Professional since 2006. He served as the President and Chief Executive
Officer at Parmalat North America from 2002 to 2006. Mr. Caira also served as Chief Operating
Officer at Parmalat Canada from 2000-2002.

Jean-Marc Duvoisin

Job Title: Deputy Executive Vice President and Head, Human Resources and Centre Administration
Since: 2010
Age: 52

Mr. Duvoisin has been the Deputy Executive Vice President and Head, Human Resources and
Centre Administration at Nestle since 2010. Previously, he served as Senior Vice President and
Head of Corporate Human Resources at Nestle.

Nandu Nandkishore

Job Title: Deputy Executive Vice President and Head, Nestle Nutrition
Since: 2010
Age: 53

Mr. Nandkishore has been the Deputy Executive Vice President and Head, Nestle Nutrition at Nestle
since 2010. He joined Nestle India in 1989 and assumed responsibilities in marketing. Mr. Nandkishore
later served at various capacities in Nestle including Head, Confectionery Business Unit Nestle
Indonesia; Marketing and Sales Director, Nestle Indonesia; Market Head, Nestle Indonesia; Market
Head, Nestle Philippines; and Global Business Head, Infant Nutrition.

David P. Frick

Job Title: Senior Vice President, Corporate Governance, Compliance and Corporate Services
Since: 2006
Age: 46

Mr. Frick has been the Senior Vice President, Corporate Governance, Compliance and Corporate
Services at Nestle since 2006. Previously, he served as Group General Counsel and Head of Legal
and Compliance at Credit Suisse Group, Zurich from 1999 to 2005.

Peter Brabeck-Letmathe

Board: Non Executive Board

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Nestlé SA

Job Title: Chairman
Since: 2008
Age: 67

Mr. Brabeck-Letmathe has been the Chairman at Nestle since 2008. Previously, he served as the
Chief Executive Officer of the company. In 1968, Mr. Brabeck-Letmathe joined the Nestle Group's
operating company in Austria. From 1970-1980, he was national Sales Manager, and later the
Director of Marketing at Nestle Chile. In 1981, Mr. Brabeck-Letmathe was appointed as Managing
Director at Nestle Ecuador. In 1987, he was transferred to Nestle's international headquarters in
Vevey as Vice President in charge of the Culinary Products Division. Subsequently in 1992, Mr.
Brabeck-Letmathe was appointed the Executive Vice President at Nestle with worldwide responsibility
for Strategic Business Group 2. He was appointed Chief Executive Officer and member of the Board
of Directors in 1987. Mr. Brabeck-Letmathe studied Economics at the University of World Trade,
Vienna. Currently, he also serves as the Vice Chairman at L'Oreal and Credit Suisse Group; and as
board member at Delta Topco and Exxon.

Andreas Koopmann

Job Title: First Vice Chairman
Age: 60

Mr. Koopmann serves as the First Vice Chairman at Nestle. He joined Bobst Group in 1989 and
served as its Chief Executive Officer from 1995 to 2009. Prior to that, Mr. Koopmann served at Motor
Columbus and Bruno Piatti. Presently, he also serves as the Country President at Alstom and
Chairman at Alstom (Suisse). Mr. Koopmann also serves as the Vice Chairman at Swissmem and
board member at Credit Suisse Group, CSD Group, and Georg Fischer.

Rolf Hanggi

Job Title: Second Vice Chairman
Age: 68

Mr. Hanggi serves as the Second Vice Chairman at Nestle. He has experience in financial industry
and has worked in Swiss Bank Corporation, Union Bank of Switzerland, Baselland Cantonal Bank,
and Zurich Insurance Company. Mr. Hanggi has been a Consultant since 1997. Besides, he is
Member of the Board of Trustees at Foundation Luftbild Schweiz. Mr. Hanggi also serves as a
Member of the Foundation Board at Werner Abegg Fonds Foundation and as a Member of the
Advisory Board at University of Zurich, Mastercourse of Advanced Studies in Applied History.

Jean Rene Fourtou


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Nestlé SA

Job Title: Director
Since: 2006
Age: 71

Mr. Fourtou has been a Director at Nestle since 2006. From 1963 to 1972, he worked as Consulting
Engineer in organizational management at Bossard & Michel. Mr. Fourtou later moved to the post
of Chief Executive Officer at Bossard Consultants. From 1977 to 1986, he was the Chairman and
Chief Executive Officer at the Bossard Group. In 1986, Mr. Fourtou moved to Rhone-Poulenc Group,
where he also served as Chairman and Chief Executive Officer. From 1999 to 2002, he was the
Vice Chairman of the Management Board and Managing Director at Aventis, which was created by
the merger of Hoechst and Rhone-Poulenc. Mr. Fourtou served as Chairman and Chief Executive
Officer at Vivendi Universal, from 2002 to 2005, before becoming Chairman of the Supervisory Board
in 2005. He also serves as the Chairman of the Supervisory Board of Canal+ Group and Bordeaux
University Foundation. Mr. Fourtou also serves on the boards of Sanofi-Aventis Maroc Telecom.

Daniel Borel

Job Title: Director
Since: 2004
Age: 61

Mr. Borel has been a Director at Nestle since 2004. In 1981, he co-founded Logitech. Between 1982
and 1988, Mr. Borel was Chairman and Chief Executive Officer at Logitech. Between 1992 and
1998, he was Chairman and Chief Executive Officer of Logitech International and, during 1998-2008,
he was appointed as Chairman at Logitech International, Apples, Switzerland. Since 2008, Mr. Borel
has served as the board member at Logitech. He also serves as the Chairman at swissUp, Foundation
for Excellence in Education and as member of the board of Defitech Foundation.

Jean Pierre Meyers

Job Title: Director
Since: 1991
Age: 63

Mr. Meyers has been a Director at Nestle since 1991. From 1972, he was attached to the directorate
of financial affairs at Societe Generale. During the same time, Mr. Meyers was Assistant Professor
at the Ecole Superieure de Commerce in Rouen. From 1980 to 1984, he was Director at the Bank
Odier Bugineier Courvoisier. Mr. Meyers is currently Vice Chairman of L'Oreal and
Bettencourt-Schueller Foundation. He also serves as the Director General at Tethys.

Andre Kudelski

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Nestlé SA

Job Title: Director
Since: 2001
Age: 51

Mr. Kudelski has been a Director at Nestle since 2001. In 1984, he started his career at Kudelski
Group as a research and development engineer. In 1991, Mr. Kudelski took over the position of
Chairman and Chief Executive Officer of the Kudelski Group. In 1992, he became Chairman and
Chief Executive Officer at Nagra Plus, a joint venture of Kudelski and Canal Plus. Mr. Kudelski also
serves as the Vice Chairman at Swiss-American Chamber of Commerce and as board member at
Dassault Systemes, Edipresse and HSBC Private Banking Holdings.

Carolina Muller-Mohl

Job Title: Director
Since: 2004
Age: 43

Ms. Muller-Mohl has been a Director at Nestle since 2004. She worked as Journalist in advertising
and as Public Relations Consultant until 1999. In 1999, Ms. Muller-Mohl was appointed as Vice
Chair of the Board of Mueller-Moehl Holding and, in 2000, she was appointed President at the
Mueller-Mohl Group. She serves as the Chairperson at Hyos Invest Holding and as board member
at Orascom Development Holding, Pestalozzi Foundation, Zoo Zurich, SMG - Schweizerische
Management Gesellschaft, and NZZ Mediengruppe. Ms. Muller-Mohl is the founding member and
Co-President of Forum Building and a member of the advisory board of the Swiss Economic Forum.

Steven George Hoch

Job Title: Director
Since: 2006
Age: 57

Mr. Hoch has been a Director at Nestle since 2006. He worked as Account Officer and as Head of
Corporate Banking for Switzerland at Chemical Bank, New York and Zurich from 1978 to 1986. Mr.
Hoch then moved to the International Private Banking Division as Vice President and Head of the
Europe/North America Group. In 1987, he became Member of the Management Committee and
Vice President, Business Development at Bank in Liechtenstein Trust Company and BIL, Trainer
Wortham. Mr. Hoch then went on to serve as Senior Vice President and Member of Management
Committee at Bessemer Trust Company. From 1994 till 2002, he served as Member of the Executive
Committee and Head of Client Service at Pell Rudman Trust Company in Boston. Since 2002, Mr.
Hoch has been Founder and Senior Partner of Highmount Capital.

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Nestlé SA

Naina Lal Kidwai

Job Title: Director
Since: 2006
Age: 54

Ms. Kidwai has been a Director at Nestle since 2006. She currently serves as Group General Manager
and Country Head at HSBC Group Companies in India. Prior to this Ms. Kidwai was Deputy Chief
Executive Officer HSBC and Managing Director and Vice Chairman at HSBC Securities and Capital
Markets India Private Limited. Till 2002, she was Vice Chairman at JM Morgan Stanley, and Head
of the Investment Bank in India and the Morgan Stanley representative on the Board of Directors.

Beat Hess

Job Title: Director
Since: 2008
Age: 61

Mr. Hess serves as a Director at Nestle since 2008. He was the Group Legal Director and Member
of the company Executive Committee at Royal Dutch Shell from 2003 till 2011. From 1988 to 2003,
Mr. Hess served as the Senior Group Officer, General Counsel and Secretary at ABB. From 1977
to 1988, he served as the Legal Counsel and later as General Counsel at BBC Brown Boveri. Mr.
Hess is also Member of the Board of Holcim, The Hague Academy of International Law and Member
of the Supervisory Board of the Hague Institute for the Internationalisation of Law.

Titia de Lange

Job Title: Director
Since: 2010
Age: 56

Ms. Lange has been a Director at Nestle since 2010. She has been Associate Director, Anderson
Cancer Center at The Rockefeller University since 2006. Ms. Lange has been Leon Hess Professor
at The Rockefeller University since 1999 and Professor of The Rockefeller University since 1997.
She also served as Associate Professor at The Rockefeller University from 1994 to 1997; and as
Assistant Professor at The Rockefeller University from 1990 to 1994.

Jean-Pierre Roth

Job Title: Director

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Nestlé SA

Since: 2010
Age: 65

Mr. Roth has been a Director at Nestle since 2010. He served as Governor of the International
Monetary Fund (IMF) for Switzerland from 2001 to 2009. Mr. Roth served as Vice Chairman of the
Governing Board of Swiss National Bank from 1996 to 2001. He served as a Director at Bank for
International Settlements from 2001 to 2009. Mr. Roth held lectureships at the University of Geneva
and at the Institute Universitaire de Hautes Etudes Internationales. He is a Member of the Board of
Swatch Group and Swiss Re. Since 2010, Mr. Roth serves as the Chairman of the Board of Directors
of Geneva Cantonal Bank. He is also the Member of the Foundation Board and Programme Committee
of Avenir Suisse.

Ann Veneman

Job Title: Director
Since: 2011
Age: 62

Ms. Veneman has been a Director at Nestle since 2011. From 2005 to 2010, she served as the
Executive Director at United Nations Children’s Fund. Earlier, from 2001 to 2005, Ms. Veneman was
the Secretary of US Department of Agriculture. Presently, she serves on the board of Alexion
Pharmaceuticals.

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Nestlé SA
Major Products and Services

MAJOR PRODUCTS AND SERVICES

Nestle (or ‘the company’) is engaged in the business of manufacturing and marketing branded food
and beverages. The company's key products and brands include the following:

Products:

Coffee
Chocolate-based and malted drinks
Bottled water
Fruit juices
Breakfast cereals
Performance bars
Infant food products
Ice cream
Yoghurt
Desserts
Noodles
Nutritionally enriched foods and drinks
Pet care products
Pharmaceutical products

Brands:

Acqua Panna
Aero
Alpo
Aquarel
Boost
Buitoni
Butterfinger
Cailler
Carnation
Cat Chow
Cerelac
Chocapic
Cini Minis
Clinutren
Coffee-Mate
Cookie Crisp
Crunch
Dog Chow
Dreyer's

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Nestlé SA
Major Products and Services

Extreme
Fancy Feast
Felix
Fitness
Friskies
Gerber
Gourmet
Haagen-Dazs
Herta
Hot Packets
Jenny Craig
Juicy Juice
Kit Kat
La Laitiere
Lean Cuisine
Maggi
Milo
Modulen
Movenpick
Mucilon
Musashi
Nescafe
Nespresso
Nesquik
Nestea
Nestle
Nestum
Nido
Nutren
Orion
Peptamen
PowerBar
Pro Plan One
Pure Life
Purina
Smarties
Stouffer's
Thomy
Vera
Vittel

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Nestlé SA
Revenue Analysis

REVENUE ANALYSIS

The company recorded revenues of CHF109,722 million ($105,311.2 million) during the financial
year ended December 2010 (FY2010), an increase of 2% over 2009. For FY2010, Zone Americas,
the company's largest geographic market, accounted for 31.3% of the total revenues.

Nestle generates revenues through nine business divisions: powdered liquid and beverages (18.8%
of the total revenues during FY2010), milk products and ice cream (18.6%), prepared dishes and
cooking aids (16.5%), pet care (11.9%), confectionary (11%), nutrition (9.4%), water (8.3%), **Alcon
(4.7%), and health and beauty joint ventures (0.8%).

Revenues by Division*

In FY2010, the powdered and liquid beverages division recorded revenues of CHF20,612 million
($19,783.4 million), an increase of 7% over 2009.

The milk products and ice cream division recorded revenues of CHF20,360 million ($19,541.5 million)
in FY2010, an increase of 4.1% over 2009.

The prepared dishes and cooking aids division recorded revenues of CHF18,093 million ($17,365.7
million) in FY2010, an increase of 5.2% over 2009.

The pet care division recorded revenues of CHF13,091 million ($12,564.7 million) in FY2010, an
increase of 1.2% over 2009.

The confectionery division recorded revenues of CHF12,097 million ($11,610.7 million) in FY2010,
an increase of 2.6% over 2009.

The nutrition division recorded revenues of CHF10,368 million ($9,951.2 million) in FY2010, an
increase of 4% over 2009.

The water division recorded revenues of CHF9,101 million ($8,735.1 million) in FY2010, an increase
of 0.4% over 2009.

The Alcon division recorded revenues of CHF5,109 million ($4,903.6 million) in FY2010, a decrease
of 27.4% over 2009.

The health and beauty joint ventures division recorded revenues of CHF891 million ($855.2 million)
in FY2010, an increase of 14.1% over 2009.

Revenues by Geography*

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Nestlé SA
Revenue Analysis

Zone Americas, Nestle’s largest geographical market, accounted for 31.3% of the total revenues in
FY2010. Revenues from Zone Americas reached CHF34,301 million ($32,922.1 million) in 2010, an

Zone Europe, accounted for 19.7% of the total revenues in FY2010. Revenues from Zone Europe
reached CHF21,580 million ($20,712.5 million) in 2010, a decrease of 4.2% compared to 2009.

Zone Asia, Oceania and Africa accounted for 15.9% of the total revenues in FY2010. Revenues
from Zone Asia, Oceania and Africa reached CHF17,409 million ($16,709.2 million) in 2010, an

Other food and beverages accounted for 10% of the total revenues in FY2010. Revenues from other
food and beverages reached CHF10,971 million ($10,530 million) in 2010, an increase of 7.7% over
2009.

Nestle Nutrition accounted for 9.4% of the total revenues in FY2010. Revenues from Nestle Nutrition
reached CHF10,366 million ($9,949.3 million) in 2010, an increase of 4% over 2009.

Nestle Waters accounted for 8.3% of the total revenues in FY2010. Revenues from Nestle Waters
reached CHF9,095 million ($8729.4 million) in 2010, an increase of 0.4% over 2009.

Pharmaceutical products accounted for 5.5% of the total revenues in FY2010. Revenues from
pharmaceutical products reached CHF6,000 million ($5,758.8 million) in 2010, a decrease of 23.3%
compared to 2009.

*The company's reporting structure comprises its globally managed business and product groups
and hence the reported segments in revenue analysis are aligned differently from the segments
mentioned in the business description.

**Alcon was disposed in August 2010.

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Nestlé SA
SWOT Analysis

SWOT ANALYSIS

products. Nestle owns some of the world’s best-known brands across diverse product categories.
A strong brand portfolio allows the company to address varied age groups and customer profiles.
However, allegations of unethical business activities may have a significant impact on customer
loyalty and attitudes towards the company.

Strengths Weaknesses

Strong brands across diversified product Increasing instances of product recalls
portfolio consolidates Nestle’s global hamper brand equity
leadership
Ability to customize products to the local
market conditions
Strong focus on research and development
capabilities

Opportunities Threats

Transition to a 'nutrition and well-being' Compliance issue resulting in penalty
company payments
Focus on enhancing business opportunities Negative publicity because of allegations of
in developing and emerging economies unethical business activities
Acquisitions to bolster product extension as Rise in commodity costs
well as market consolidation

Strengths

Strong brands across diversified product portfolio consolidates Nestle’s global leadership

Nestle owns some of the world’s best-known brands across diverse product categories. The
company’s product portfolio encompasses a range of offerings in dairy, pet care, confectionary,
coffee, frozen and chilled meals, bottled water, ice creams, powdered beverages, weight management,
infant nutrition, and performance nutrition. In each of these product categories, the company has
established its leadership through some of the world’s most valuable brands. For instance, Nestlé’s
Nescafe brand is the world leader in global coffee market. The company is one of the world's top
bottled water manufacturers and Nestle Pure Life is the biggest water brand in the world. The
company is also the largest player in the pet food business through its Purina brand and sub-brands
including Dog Chow and Friskies. It is also the global leader in dairy and infant nutrition. Besides,

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Nestlé SA
SWOT Analysis

Kit Kat and Nestle in confectionary; Dreyer's and Edy's in ice cream; and Maggi in noodles are some
of the largest brands in each of their respective product categories.

Moreover, Nestle has been growing its market position on the strength of these brands.The company's
each of the top 28 brands earn around billion in annual sales and contribute approximately 75% of
total sales. Furthermore, these top brands are growing at double-digit rate which underlines the
company’s strong growth fundamentals. The company’s Nespresso brand, its single-serve capsule
coffee system, has grown organically at over 20% in FY2010 compared to previous period. On the
other hand, Nestle, Nido, Nestle Pure Life, Gerber, Nan, Nestea, Milo, and Galderma have grown
at a rate of 10-20% during the same period. This indicates the company's ability to leverage its brand
popularity to generate sales.

The company's strong brand has been its competitive advantage which facilitates customer recall
and allows Nestle to penetrate new markets as well as consolidate its presence in the existing ones.
Besides, product diversification reduces dependence on particular industry and also adds to the
company’s revenue base. Moreover, Nestle’s market leadership and industry-leading brands provides
economy of scale and in turn enhance its bargaining power.

Ability to customize products to the local market conditions

One of Nestle's key strengths is its ability to customize global products according to consumer
preferences in the local market.This is achieved by ensuring that its subsidiaries understand consumer
preferences in the local market and develop products that match them. For instance, its confectionery
range sold in the UK is called Rolo, while it is known as Rossyia in Russia. Furthermore, the
company's coffee brand Nescafe, comes in many variations, adapted to local tastes and preferences.
Customized products with the same underlying international quality standards ensure continued
customer loyalty towards the brand and the company.

Strong focus on research and development capabilities

Nestle has strong research and development (R&D) capabilities. The company’s global R&D centers
now reach five continents and operate 29 research, development and technology facilities worldwide.
The company’s R&D network includes Nestle Research Centre (NRC), internationally renowned for
its work in the food and nutritional sciences; 10 Product Technology Centers (PTCs), which act as
an epicenter for all global products and process development for Nestle’s businesses; and 17 R&D
centers, which have a global or local role working with PTCs in joint projects. In addition, 280
Application Groups (AGs) work in collaboration with the R&D centers to customize product for local
consumers. Apart from well-established R&D network, Nestle also has huge R&D investment outlay
amounting to CHF1.9 billion ($1.8 billion).

Nestle's continued focus on R&D initiatives enables the company to increase its profitability. For
example, powdered and liquid beverages products category achieved an organic growth of 8.5% in
2010 over 2009 since the segment benefited from the continued roll-out of renovated Nescafe brands
such as Alta Rica, and innovations such as Nescafe Green Blend. Thus, strong R&D capabilities
allow Nestle to renew its product line at regular intervals, while boosting revenue growth.

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Nestlé SA
SWOT Analysis

Weaknesses

Increasing instances of product recalls hamper brand equity

Nestle has a history of recalling a number of products from the market. For instance, in 2011, the
company initiated recalls of Lean Cuisine packaged meals in the US after reports indicated presence
of red plastic pieces inside meatballs. In the same year, the company recalled some packs of its
Milkybar Buttons due to the likely presence of small pieces of rubber. This was followed by recall of
Maggi noodles for possible salmonella contamination in Philippines. Earlier, in 2010, the company
had recalled its Nescafe Collections coffee due to the possible presence of small pieces of glass.
Prior to that, in 2009, the company recalled refrigerated and frozen Nestle Toll House cookie dough
products when Nestle USA, a subsidiary of Nestle, was notified by the United States Food and Drug
Administration (FDA) and the Centers for Disease Control (CDC) of a possible link between reported
illnesses caused by E.coli 0157:H7 and the consumption of uncooked cookie dough. Moreover, in
2008, Nestle USA, recalled Nestle Nesquik Strawberry Powder, fearing that it may contain small
fragments of aluminum. During the same period, reports of small chunks of blue plastic in Lean
Cuisine brand frozen chicken dinners have led Nestle Prepared Foods Co. a subsidiary of the
company, to recall around 900,000 pounds worth of meals. Earlier, in 2008, Nestle recalled a UHT
pure milk product in Hong Kong after samples containing a tiny amount of the chemical melamine
were discovered in the product. Several product recalls like these indicate inadequate quality
assurance and quality control systems for Nestle. Also, recurrent product recalls affect the brand
image of the company, which would eventually lead to low customer loyalty and brand equity.

Opportunities

Transition to a 'nutrition and well-being' company

Nestle is primarily focusing on nutrition to drive its growth. The growing focus of the world’s largest
food and beverage company towards health and nutrition is well reflected in its assertion as “world’s
leading nutrition, health, and wellness company”. To emerge as one of the leaders in health and
nutrition market, the company established Nestle Health Science and Nestle Institute of Health
Sciences in 2010. Both these institutes will focus on developing personalized health science nutrition
to prevent and treat health conditions such as diabetes, obesity, cardiovascular and Alzheimer’s
diseases. Furthermore, the acquisition of Vitaflo, a global provider of clinical nutritional products,
allowed Nestle to enter the fast-growing global market for clinical nutrition products customized for
people with inherited metabolic disorders.

Nestle is also efficiently utilizing its R&D capabilities to position itself in the health and wellness
market. For instance, in preventive nutrition, it has forayed in the probiotics market. The company
is also working on scientific innovations to address obesity and diabetes. Other personalized nutrition
initiatives address the special nutritional needs of patients with illness related to ageing. In specialized

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Nestlé SA
SWOT Analysis

areas such as genomics, proteomics and metabolomics, it is investigating the unknown territories
of genes and proteins with the aim of adapting foods to meet very individual needs.

In addition to these, Nestle renovated its 6,502 products for nutrition or health considerations. It is
also trying to promote new launches in food and beverage categories on the nutrition and wellness
platform claiming “60/40+” advantage, with the “60/40” being targeted consumer preference and the
“+” representing nutritional advantage.

Nestle's strategy to strengthen its position as a nutrition and well-being company comes at a time
when consumers are increasingly becoming health conscious. According to industry journals, global
nutrition market is forecast to exceed $400 billion by 2014. Another industry competitor puts the
global market for packaged nutrition at $500 billion. Rising health awareness, increasing percentages
of lifestyle related diseases, and growing government spending on healthcare reforms in emerging
countries is expected to drive the nutrition industry further in next few years. Hence, projecting itself
as nutrition, health, and wellness company, augurs well for the Nestle’s future growth strategy.

Focus on enhancing business opportunities in developing and emerging economies

The most significant growth opportunity for Nestle is in the developing and emerging economies
(D&E) economies, most notably China and India. D&E economies have increasingly become important
considering their growing share in global economic growth. Their growing importance for food and
beverage company like Nestle could be gauged by the fact that emerging countries in Asia and
Africa are home to around 76% of the world’s population and 83% of the world’s babies. Moreover,
Asia is expected to account for 34% of global gross domestic product (GDP) and 55% of global
wealth by 2030.

Nestle has been active in D&E economies through its subsidiaries in Asia-Pacific, Africa, the Middle
East, Turkey, and Latin America region. Sales in emerging countries accounted for almost 36% of
total revenue and reached CHF39,000 million ($37,432.2 million) in 2010. The company expects to
generate 45% of its sales in emerging markets by the year 2020. The goal reflects Nestle’s growing
stature in the region. For FY2010, emerging markets achieved organic growth of 11.5%. Moreover,
13 of these markets generate annual sales exceeding CHF 1 billion ($0.9 billion); and five generates
annual sales over CHF 2 billion ($1.9 billion). The company’s emerging market business is being
supported by local manufacturing, with 47% of factories (210 factories) located in emerging markets,
and six R&D centers. The company has also increased its capex in these countries over the years.
Its annual capex is expected to amount to CHF1,400 million in 2011 ($1,343.7 million) compared to
CHF660 million ($633.5 million) in 2008. By focusing on developing markets, the company has
positioned its brands to grow in some of the high growth potential markets.

Acquisitions to bolster product extension as well as market consolidation

Nestle has been active in acquisitions to grow its business in complementary areas. For instance,
in 2011, Nestle acquired Prometheus Laboratories, a San Diego-based company. Prometheus
specializes in diagnostics and in-licensed specialty pharmaceuticals in gastroenterology and oncology
and focuses on conditions such as inflammatory bowel diseases, including Crohn’s disease and

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Nestlé SA
SWOT Analysis

ulcerative colitis. Its strong expertise and research and development in gastrointestinal and oncology
diagnostics will support Nestle’s ambitions in personalized healthcare for medical conditions. In the
same year, the company acquired controlling stake in the Chinese food company Yinlu Foods Group.
Yinlu is a well established household brand in China and a significant marketer for ready-to-drink
peanut milk and ready-to-eat canned rice porridge. The acquisition represents Nestles’ emphasis
to grow its sales in emerging markets to 45% by 2020 from about 36% at present.

Earlier, in 2010, the company announced its plans to acquired Waggin’ Train dog snacks business
in the US. Waggin’ Train is a leading marketer in the fast growing real-meat dog snacks segment
and has been the segment's fastest growing leading brand with annual growth rates of around 30%
over the last three years. The acquisition will further strengthen Nestle’s position in the pet care
industry which is poised to grow above average growth rates. In the same year, Nestle acquired
Vitaflo, a Liverpool-based global provider of clinical nutritional products. The acquisition allowed
Nestle to enter the fast-growing global market for clinical nutrition products customized for people
with inherited metabolic disorders. Also in the year, Nestle completed the acquisition of Kraft Foods'
frozen pizza business. With estimated sales of $2,100 million in 2009, Kraft Foods was the leader
in the frozen pizza category and enjoyed double-digit growth in the US and Canada over the last
four years. The acquisition consolidated Nestle’s market base in frozen food industry with inclusion
of Kraft Foods' well known brands such as DiGiorno, Tombstone and California Pizza Kitchen to the
Nestle’s already powerful frozen entrees and snacks brands like Stouffers, Lean Cusine, and Hot
Pockets.

Acquisitions such as Prometheus Laboratories and Yinlu Foods Group are strategic steps which
positions the company to grow in some of future growth catalysts. While, acquisitions like Waggin’
Train and Kraft Foods' frozen pizza business consolidates the company’s leadership in some of the
product categories. Similar acquisitions are likely to strengthen Nestle’ presence across various
categories and in turn will enhance its topline and bottomline growth.

Threats

Compliance issue resulting in penalty payments

Nestle has been forced to pay fine amounting to thousands of US dollars during recent times. For
instance, in early 2009, Nestle and The Coca Cola Company (TCCC) was asked to pay $650,000
fine as part of a pact with 27 states to resolve a marketing dispute over claims that their Enviga-brand
green tea beverage, product joint developed by TCCC and Nestle will burn extra calories resulting
in weight loss. During the same period, The Hellenic Competition Commission fined Nestle E30
million ($38.5 million) for 'abusing' its dominant position in the instant coffee market. The state
competition commission accused Nestle of taking steps to shoulder out other coffee providers in its
deals with supermarkets, restaurants and distributors. Nestle's reputation is based on consumers'
trust. Any further major event triggered by a serious compliance issue could impact Nestle's reputation
and impact its shareholder confidence.

Negative publicity because of allegations of unethical business activities

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Nestlé SA
SWOT Analysis

Nestle has been criticized by various social organizations for alleged unethical business activities.
For instance, the company has faced warnings over the past several years as it sourced cocoa from
farms in the Ivory Coast, which employed child labor. The charges against the company include
trafficking, torture, and forced labor of children who cultivate and harvest cocoa beans, which the
company imports from Africa.

Furthermore, public criticism Nestle has faced revolves around artificial infant milk substitute. Most
of the major allegations against Nestle involve a breach of the World Health Organization (WHO)
International Code of Marketing of Breast milk substitutes. These are not legally enforceable
regulations, but health guidelines generally accepted by governments around the world. Nestle was
further criticized for advertising and marketing its products in ways that undermine breastfeeding,
giving away free samples and promoting the use of its infant milk substitutes. Such criticisms lead
to negative publicity and may have a significant impact on customer loyalty and attitudes towards
the company.

Rise in commodity costs

Nestle, the world’s largest food and beverage company, is also one of the biggest food raw material
buyer. Therefore, volatility in food prices directly impacts the company’s operating costs. In recent
period, prices of cocoa, sugar, coffee and other major ingredients used by Nestle has risen
unprecedented due to speculations, weather conditions and rising oil prices. Volatility in commodity
prices has also increased with average monthly price variation rising to 16.4% in 2006 to 2010, up
from a 12.4% swing between 2000 and 2005. Inflationary trends are far bigger concern in Asia where
group caters to the price-sensitive customers. According to IMF report on Asia Pacific, headline
inflation in Asia has accelerated since October 2010, mainly owing to higher commodity prices. For
the region as a whole, headline consumer price index (CPI) inflation accelerated to 4.5% in February
2011, from about 4.25% in October 2010. India, Indonesia, and Vietnam have experienced relatively
higher inflation figures. Besides, according to the US Department of Agriculture, the prices will
continue to accelerate in the US during the first half of 2011, leading to a 2%-3% rise in inflation for
the year.

Rising commodity prices presents dual challenge for Nestle. The company will face declined
consumption of its products in case it raises its product prices, since cash-starved consumers will
look for value products available from private labels. However, if price pass-offs are negligible or
insufficient it will impact the company’s margins. With increasing competition from other major players
like Unilever, which enjoys stronger market base in emerging countries, rising inflation will pose
challenges for the company’s sales and profit growth.

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Nestlé SA
Top Competitors

TOP COMPETITORS

The following companies are the major competitors of Nestlé SA

ConAgra Foods, Inc.
H.J. Heinz Company
Hershey Foods Corporation
Kellogg Company
Sara Lee Corporation
Kraft Foods, Inc.
The Coca-Cola Company
PepsiCo, Inc.
Groupe Danone
Perfetti Van Melle SpA

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Nestlé SA
Company View

COMPANY VIEW

A joint statement by Peter Brabeck Letmathe, Chairman of the Board and Paul Bulcke Chief Executive
Officer of Nestle is given below. The statement has been taken from the company's 2010 annual
report.

The aftershocks of the 2008 financial meltdown echoed through 2009, with recessions in many
economies, and continued through 2010 and into 2011, with concerns over what may be still to
come. This unpredictable and volatile macro-environment, particularly in the developed world, has
weighed heavily on consumer confidence. On the other hand, the emerging world has rallied quickly,
demonstrating that many economies in Asia, Africa and Latin America are more robust, and less
dependent on the developed world than was perhaps thought. One might say that many emerging
economies are indeed emerging, and doing so on their own terms, with their own priorities, rather
than simply having a “me too” ambition to mimic the developed world. This must be a good thing,
both for those economies and for global trade and development.

This environment has required specific, individual country-by-country approaches from your Company,
so that we could identify opportunities for growth in areas characterised by low levels of consumer
demand and also capitalise on buoyant demand in other markets. These approaches shared a
common strategic purpose, described in the Nestlé Roadmap, which identifies our operational and
strategic priorities. Our priorities were to ensure that we put consumers first; that we offered
outstanding value propositions through our products and services, appropriate to our different
consumer segments; that we achieved a high level of differentiation of our brands from those of our
competition; and that we continued to increase investment in innovation, in consumer communication,
in operations and in distribution. And that we did this whilst driving improved operational efficiency
across the business, simultaneous to achieving ever higher standards of process and product quality.

This commitment lies at the heart of our performance in 2010, a year that saw Nestlé’s stock market
valuation make it preeminent amongst its consumer goods peers and one of the leading companies
in Europe.

Nestlé’s organic sales growth was 6.2%, including real internal growth (RIG) of 4.6% and pricing of
1.6%. The strength of the Swiss franc relative to many other currencies had a 3.6% negative impact
on reported sales, whilst divestitures, net of acquisitions, resulted in a fall of 0.6%. Overall, sales
rose by 2.0% to CHF 109.7 billion. The Group’s EBIT rose to CHF 16.2 billion and the EBIT margin
rose by 20 basis points to 14.8%. Our continuing operations had organic growth of 6.0% and RIG
of 4.4%. Despite a higher level of investment in marketing and R&D, the EBIT rose to CHF 14.0
billion and the EBIT margin by 30 basis points to 13.4%.

The Group’s underlying earnings per share rose 7.4% to CHF 3.32, and by 10.3% in constant
currencies. The reported net profit was CHF 34.2 billion, reflecting the profit on disposal of our
remaining holding in Alcon, as well as the underlying improvement in our performance.

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Nestlé SA
Company View

The operating cash flow was CHF 13.6 billion. The Group’s return on invested capital decreased by
10 basis points to 15.5% including goodwill, but increased 100 basis points to 36.1% excluding
goodwill.

In view of this performance, and your Company’s robust financial position, your Board is
recommending a dividend per share of CHF 1.85, an increase of 15.6% from last year. This will be
paid in 2011, and is in addition to the current CHF 10 billion share buy-back, split equally between
2010 and 2011.

The 2010 results, achieved in an exceedingly challenging environment, were not the reflection of a
single-minded focus on achieving short-term performance, but were achieved whilst investing for
the future and laying foundations to shape the future direction of the Company:

• in January we announced the acquisition of the leading USA player in frozen pizza. This deal
complements our existing leadership in frozen meals, frozen snacks and ice cream in the US market,
enhances our distribution capabilities there and complements the know-how that we have developed
in our pizza operations in Europe. On an annualised basis, we now have sales of over CHF 8 billion
in mainstream retail frozen food and ice cream in North America, and clear leadership;

• in August we closed the sale of Alcon. This transaction, together with the earlier divestments of
our Alcon shares, brought the total realised by Nestlé to USD 41 billion from an investment in 1977
of USD 280 million. Your Board thanks the past and present Alcon management teams for their
great work over three decades in building such a successful business, which has enabled the creation
of significant value for our shareholders. Our desire to ensure that our shareholders benefited from
that value creation is reflected in our commitment to buy back and cancel approximatively CHF 40
billion of our shares between 2005 and 2011;

• in September we announced the creation of both Nestlé Health Science S.A. and the Nestlé Institute
of Health Sciences. Nestlé is the world’s leading Nutrition, Health and Wellness company: one
responsibility of leadership is to be a pioneer. The creation of these two organizations will enable
us to pioneer a new market between food and pharmaceuticals. They will develop the innovative
area of personalised health science nutrition to prevent and treat health conditions such as diabetes,
obesity, cardiovascular and Alzheimer’s diseases. Nestlé Health Science will incorporate the Nestlé
HealthCare Nutrition business, with CHF 1.7 billion of sales, including the 2010 acquisition of Vitaflo,
focused on inherited metabolic disorders;

• we also strengthened our position through acquisitions in different categories in both developed
and emerging markets. These included, amongst others, Water in China, Culinary in Ukraine,
Confectionery in Turkey and PetCare in North America.

Acquisitions play a role in helping to accelerate the Group’s strategic priorities and to enhance its
growth profile, but our key driver of profitable growth is the organic development of our categories
and geographic positions. We have made or announced major capital investments in the developed
world and in emerging countries such as India, China, Indonesia, the Philippines, the Middle East,
Russia, Brazil, Mexico, Chile, Angola, the Democratic Republic of Congo, Ghana, Kenya and

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Nestlé SA
Company View

Mozambique. In total, for 2010 and 2011 we have spent or committed CHF 4.3 billion to capital
investment in emerging countries.

We foresee investment in the emerging world continuing to run at significant levels as we build on
our position as the largest food and beverage company in emerging markets. Equally, we will continue
to invest in North America, Western Europe and the developed economies of Oceania and Japan:
we see many opportunities for growth in the developed world and are investing to ensure that we
are well placed to benefit from them. Capital investment, expanding our capacity, is only one part
of the story: we are supporting this with investment in capabilities, both personal and technical, in
R&D, in distribution and, of course, in our brands. The strength of our balance sheet means that we
do not have to make either/or decisions when we are investing in our own business, acquiring another
company or driving our performance, but that we can judge each opportunity on its own merits. This
means that we will make appropriate investments and acquisitions in both developed and emerging
markets, provided the financials stand up; and that we will drive short-term performance and, at the
same time, invest in the longer-term development of our brands and market positions.

We are also using our financial resources and technical expertise to invest in countries and
communities that are themselves contributing to our development. As an example, we are seeking
to improve the security of supply of key ingredients, such as milk, green coffee and cocoa. In 2010,
we announced our intention to invest CHF 500 million in a wide-ranging plan to address responsible
farming, sourcing and consumption across the coffee supply chain. As part of this plan, we intend
to deliver over two hundred million high-yielding plants to farmers over the next ten years. We are
also investing over CHF 100 million in an initiative in cocoa with similar objectives around the
sustainability of the cocoa industry.

These cocoa and coffee initiatives are just two examples of us using our financial resources to fund
investment that will improve the quantity and quality of local ingredients that we are able to buy; this
in turn will contribute to increased economic prosperity in those countries; equally, we are expecting
to make further such investments as our business continues to grow, both locally and around the
world. The benefits to our Company will be an improved security of supply of higher-quality raw
materials and a reduced impact from the volatility of raw material prices.

These investments highlight the founding philosophy of how we go about our business: we believe
that companies are only sustainable and successful over the long term if they create value not just
for their shareholders but also for the societies in which they operate. We call this “Creating Shared
Value”. We talk about this in more detail in this report, as well as our progress in relation to the United
Nations Global Compact.

Our commitment to Creating Shared Value and our principle-based approach to running our business
stand front-and-centre as we pursue our objective of being the reference for financial performance
in our industry because we want to achieve this whilst also being trusted by all stakeholders. The
Nestlé Model has the objective of every year achieving a high level of organic growth and improving
the EBIT margin. In the last ten years we have averaged an annual 6.3% organic growth and an
annual 30 basis point improvement in the reported EBIT margin. The benefit of our EBIT growing
faster than our organic sales is reflected in the improving trend in our cash-flow performance, which

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Nestlé SA
Company View

is in turn reflected in the increased dividend paid to our shareholders, up 236% per share over that
same 10-year time frame. And, in the last six years, your Company has been paying a dividend and
carrying out a significant share buy-back, which together total CHF 60 billion over that time.

Comparability, transparency and the ability to be benchmarked are entry points to being the reference
for financial performance: your Board committed in 2010 to change our sales recognition policy with
effect from 2011 to facilitate comparisons of performance with our peers by bringing into line those
of our key reported financial performance indicators that were not already directly comparable. We
believe this will not only facilitate external-benchmarking of our performance, but that it will also bring
even closer alignment between internal targets and those value drivers that are of most importance
to our shareholders.

There was one change to the Executive Board in 2010. Richard Laube decided to leave the Company
and was replaced as Head of Nestlé Nutrition and on the Executive Board by Doreswamy (Nandu)
Nandkishore. Nandu, of Indian nationality, has been with Nestlé since 1989 and was previously the
Market Head of Nestlé Philippines and then the Head of Infant Nutrition globally. The Board thanks
Richard for his contribution over his five years at Nestlé and particularly for his contribution to the
successful acquisition and integration of the three businesses which enabled Nestlé Nutrition to
double in size under his leadership.

One new director will be proposed to shareholders at the 2011 Annual General Meeting. Ms. Ann
Veneman, is a US citizen and former Executive Director of the United Nations Children’s Fund
(UNICEF). She also served as Secretary of the United States Department of Agriculture (USDA)
and is a member of the Nestlé Creating Shared Value Advisory Board, with extensive experience
in areas such as children’s health and education.

The events of the last few years have been unprecedented in many ways, and have created
considerable uncertainty for many people in many countries around the world. Despite this, our
people, over 280 000 of them, have continued to show a wonderful level of commitment to their jobs
and of enthusiasm for their Company. We would like to thank them on behalf of the Board and of all
our fellow shareholders for their efforts in 2010. We would also like to welcome all those who have
joined Nestlé in 2010 and to wish them every success, in the knowledge that they have the full
support of their colleagues.

We are starting 2011 with continued momentum, well placed to face uncertainties ahead, including
volatile raw material prices. We are therefore confident of achieving the Nestlé Model in 2011: organic
growth between 5% and 6% and an EBIT margin improvement in constant currencies.

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Nestlé SA
Locations and Subsidiaries

LOCATIONS AND SUBSIDIARIES
Head Office
Nestlé SA
Avenue Nestle 55
1800 Vevey
CHE
P:41 21 924 2111
http://www.nestle.com

Other Locations and Subsidiaries

Societe pour l'Exportation des Produits Nestle Argentina S.A.
Nestle S.A. Casilla de Correo 1459
Caixe Postal 1138 AR - C1000WAO Correo Central
Rua Emilio M'Bidi 97-99 ARG
Luanda
AGO

Nestle Osterreich GmbH Nestle Australia Ltd.
Am Euro Platz 2 1 Homebush Bay Drive
Wien Rhodes
A 1120 New South Wales 2138
AUT AUS

Nestle Industrial e Comercial Ltda. Nestle India Ltd.
Avenida Avenida Doutor Chucri Nestle House
Zaidan 246 Jacaranda Marg
Sao Paulo M Block DLF City Phase II
04583 110 Gurgaon 122 002
BRA Haryana
IND

Nestle USA, Inc. Nestle UK Ltd
800 North Brand Boulevard St George's House
Glendale Croydon
California CR9 1NR
91203 GBR
USA

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Nestlé SA Company Profile

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