Analysis of Selected Transactions for [*******] Sector

Annc. Target / Description of Target / Aggregate Value / Equity Value /

date Acquiror Comments Value Sales EBITDA EBIT Earnings TOSE
(x) (x) (x) (x) (x)
euro millions
Bestfoods / Unilever Equity 21,352.6 2.83 14.9 17.8 28.5 17.6
Other 156.0
Net debt/(cash) 3,196.2
- 24,704.8

Equity na na na na na na
Other na
Net debt/(cash) na
na

Equity na na na na na na
Other na

Equity na na na na na na
Other na
Net debt/(cash) na
Aggregate na

Equity na na na na na na
Other na
Net debt/(cash) na
Aggregate na

Equity na na na na na na
Other na
Net debt/(cash) na
Aggregate na

Equity na na na na na na
Other na
Net debt/(cash) na
Aggregate na

Equity na na na na na na
Other na
Net debt/(cash) na
Aggregate na

Max: 2.83 14.9 17.8 28.5 17.6

Min: 2.83 14.9 17.8 28.5 17.6
Mean: 2.83 14.9 17.8 28.5 17.6

Median 2.83 14.9 17.8 28.5 17.6

Deutsche Bank @ 11/04/2021 12:27:06 32481574.xls

Analysis of Selected Transactions for [*******] Sector
Notes:
Values represented as if 100% purchase.
Other = Minorities + preference shares (if applicable).
Net Debt = Total Debt less cash and marketable securities (if applicable).
Aggregate Value = Equity Value + Net Debt.
TOSE (Tangible Ordinary Shareholders Equity) represents net assets attributable to ordinary shareholders less intangible assets.
EBIT does not include amortisation of goodwill.

0 0
0
0
0
0

0 Common
ESOP
Option
Equity
0

0 0
0
0
0
0

0 0
0
0
0
0

0 0
0
0
#REF!
0

0 0
0
0
0
0

Deutsche Morgan Grenfell 11/04/2021 12:27:06 32481574.xls