Press Release: Nestle: Full-year results 2025 and -2-

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With the formation of the newly integrated Nutrition business, the Globally Managed Business structure of Nestlé Health Science will be removed. Anna Mohl, CEO of Nestlé Health Science, will step down from the Executive Board on 28 February 2026 and has chosen to pursue opportunities outside Nestlé. The Board of Directors warmly thanks Anna Mohl for her leadership and significant contributions to Nestlé and wishes her every success in her future endeavors.

Follow today's events live

09:00 CET Analyst & investor call - video webcast https://www.globenewswire.com/Tracker?data=zDXTC_YSNPaSPmNOlFZIijE6qhi8SbRiS6BdUF867R-TDp4_VIM6bUii9P-4jmHlUy1ZRa8gFps8m82_dOKMQgSGYBTaatHif3uFQVbrpRYHaVTk7cU4cSiy6UChe07xVU83G_8Im6D3XIIp7alMJg==

11:00 CET Media Q&A - audio webcast https://www.globenewswire.com/Tracker?data=Y7fTBBySsmXJe8V-4hJracDK7BcLnwlBLVgsukEDa-mNPBef70r86RRrgf3ztFiBo_6E6Ea2jqxJ8zWbAxPFpy2mXIw4LqleDQ7qe36SQzBXW4hsj2JipFtcv8-bXaPdnG7eVz_Dl3c_rdAt_c9QxR12VNVyhVJ3FMOapgsJlzo=

Full details in Events https://www.globenewswire.com/Tracker?data=pKfWPN5YpoDyoRV4xEGacq0NlhE9GO-s9kUWerUEcJ3xYgHyp9Sz7PpR2Mgt3V3uddW-48tTJjAln3yKjoIBTLM3XJpToLx_gKuJOmNFNDs5I5CsEZ9VhpFAKh2vYeiGFYLdW7Qt8g2GLWuEQ6wPiyBRiZApdNBHCeJXzP9Uqic=

PDF press releases:

-- English (pdf, 500 Kb):

https://www.nestle.com/sites/default/files/2026-02/full-year-results-press-release-2025-en.pdf

-- Français (pdf, 500 Kb):

https://www.nestle.com/sites/default/files/2026-02/full-year-results-press-release-2025-fr.pdf

-- Deutsch (pdf, 500 Kb):

https://www.nestle.com/sites/default/files/2026-02/full-year-results-press-release-2025-de.pdf

Other reports published today:

-- Financial Statements 2025 (pdf, 1 Mb):

https://www.nestle.com/sites/default/files/2026-02/financial-statements-2025-en.pdf

-- Annual Review 2025 (pdf, 13 Mb):

https://www.nestle.com/sites/default/files/2026-02/annual-review-2025-en.pdf

-- Corporate Governance Report 2025 (pdf, 2 Mb):

https://www.nestle.com/sites/default/files/2026-02/corp-governance-report-2025-en.pdf

-- Non-Financial Statement 2025 (pdf, 20 Mb):

https://www.nestle.com/sites/default/files/2026-02/non-financial-statement-2025.pdf

-- Creating Shared Value at Nestlé 2025: Our impact (pdf, 20Mb)

https://www.nestle.com/sites/default/files/2026-02/creating-shared-value-nestle-2025.pdf

-- Other language versions available in Publications

https://www.nestle.com/investors/publications

Contacts:

Media:

Christoph Meier Tel.: +41 21 924 2200

mediarelations@nestle.com https://www.globenewswire.com/Tracker?data=0bXVeFoKoMKRfiWJwm0rbY4YJNPSMJpE94tEKOF9c-fLSl6aDKoB_FhMmXEUDdaQzsxZbK0SJz3lLo10FMeUuqtVaSfowSGW--ygr4nStj_UJ4QvzQsMTYFASak9PQVR

Investors:

David Hancock Tel.: +41 21 924 3509

ir@nestle.com https://www.globenewswire.com/Tracker?data=WKhwj5tPTOZdVvFzJ5RsGKVqBJN7nAAy3PX8dERdOivC1UOTqh2jr8TWPPRWs8j8mVeBK-08AR5VvtjDz7ZWvQ==

Accelerating our growth strategy

Our actions in 2025 have delivered clear results, with growth and market share trends strengthening in the second half. Building on this momentum, our accelerated strategy is centered on five priorities.

1. Winning portfolio

Our portfolio is focused on four businesses: Coffee, Petcare, Nutrition and Food & Snacks. In the first three, we have market-leading positions in truly global categories; these are approximately 70% of sales. Food & Snacks is a more regional business, and we have leading global and local brands. These are all winning businesses: in terms of growth, returns, market positions and performance. They are also a winning combination: leveraging commercial synergies and common capabilities, such as route-to-market scale and science & technology know-how. Together, this gives us a winning portfolio.

Our Coffee and Petcare businesses are global powerhouses backed by leading brands: including Nescafé, Nespresso and Starbucks in Coffee, and Pro Plan, Purina ONE and Friskies in Petcare. For these two businesses, it is all about executing on our opportunities. In Nutrition, we are creating a third global powerhouse by integrating our nutrition and Nestlé Health Science units. This will drive focus, simplification and synergies that allow us to accelerate growth. In Food & Snacks, we continue our disciplined portfolio management through targeted brand rationalization. This includes advanced negotiations to sell our remaining ice cream businesses to Froneri. For Nestlé Waters & Premium Beverages, we began the formal engagement process with potential partners in Q1 2026 and expect the business to be deconsolidated from 2027.

2. RIG-led growth

Our portfolio benefits from advantaged exposures, with sales for our categories expected to grow at 3-4% over the coming years. To deliver growth across our portfolio, we are focusing on key trends driving food and beverages; these include affordability for consumers, winning customer channels such as e-commerce and discounters, and health-conscious consumption.

Our ambition is to grow faster than our categories, with organic growth of 4%+ over the medium term. We are driving acceleration by investing boldly in high potential growth platforms, expanding their scope to 30% of Group sales (from 10% last year). Growth platforms should deliver high single-digit organic growth, driven by targeted investment plans that capitalize on our competitive strengths in structurally growing areas. Examples include cold coffee, pet therapeutics & supplements, medical nutrition and KitKat.

Marketing is a critical growth enabler. In recent years, Nestlé lost some of its marketing muscle. We are changing that with best-in-class brand-building as a global standard, prioritizing fewer brands, and modernizing our operating model to improve speed, quality and efficiency. We are also better connecting consumer insights, innovation and marketing to put the consumer at the center. Delivering value for the consumer is the ultimate driver of our business.

3. Transformation and efficiency

To support growth and improve efficiency, we are fundamentally changing how work gets done across Nestlé, simplifying our operating model and clarifying accountabilities. One example is the simplification of our nine end-to-end business processes, such as procure-to-pay and hire-to-retire. While underpinned by consistent IT infrastructure, these processes vary considerably market to market, both the activities and whether the activities take place in shared services. This slows us down and limits the value of our data. We have begun accelerating our use of shared services, allowing us to standardize and automate. This will deliver a simpler, more agile and more productive operating model.

In Q4 2025, we announced an acceleration of planned global headcount reductions to c. 16,000 by the end of 2027. This includes c. 12,000 white-collar professionals, driving an increased target for annual operational efficiency savings of CHF 1.0 billion by the end of 2027. We are executing with urgency on this program, with 20% of the targeted savings already achieved, ahead of plan. In conjunction with our procurement savings program, we are on track to deliver total Fuel for Growth cost savings of CHF 3.0 billion by the end of 2027.

4. Cash and capital allocation

Cash is a key focus. Performance is improving because we have enhanced governance and accountability, supported by data. This makes stronger cash generation a repeatable capability. KPIs now give a detailed view of working capital impactors, allowing sharper challenge and faster corrective action. Capex discipline is tightened with rigorous scrutiny of business cases and investment only where it creates returns. Safety and quality remain non--negotiable.

Our capital allocation principles are clear: investment in organic growth, shareholder returns through dividends, and net debt reduction are the highest priorities. During 2025, we received an extraordinary distribution from our Froneri joint venture (JV) and sold our minority stake in Herta, helping to reduce financial leverage and drive focus. We will continuously review smaller non-core assets for opportunities to simplify and unlock value.

5. Performance culture

Culture is defined by how the organization collaborates, sets goals, makes decisions, recognizes impact and develops talent. A strengthened focus on sustainable performance ensures that we create a culture where winning is recognized and rewarded, where teams act as accountable business owners, with no complacency around underperformance.

Greater accountability is enabled by changes in our organizational structure. The core principle is about empowering markets to own local execution -- and the operating P&L -- without ambiguity. Above-market activities are limited to those benefiting from scale and close global coordination. The integrated Nutrition business reflects this approach -- it will be run locally through the Zones, with the globally-managed business structure of Nestlé Health Science being removed.

Delivery of the Group strategic priorities is supported by evolved metrics for the annual bonus. Organic growth now includes a RIG "gatekeeper", personal goals are set using common objective KPIs and functional leaders are aligned behind Group performance. A new performance and development framework from 2026 increases transparency and strengthens assessment.

Guidance 2026

Organic growth for 2026 is expected to be in the range of around 3% up to 4%, with RIG accelerating versus 2025, driven by our focused growth plans. This range includes the expected impact of sales returns and stock shortages of approximately -20 bps from the infant formula recall; additional impact is uncertain and could drive OG towards the lower end of the range. UTOP margin is expected to improve versus 2025, strengthening in the second half of the year. Free cash flow is expected to be above CHF 9 billion.

Financial review 2025

Sales

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