ResultsFY12

Date2012

Disclaimer
The statements contained in this document that are not historical facts are forwardlooking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In addition, from time to time, in oral and written statements, representatives of D.E. MASTER BLENDERS 1753 (the Company) discuss their expectations by making forwardlooking statements regarding the Company. Forwardlooking statements are generally but not always preceded by terms such as "intends", expects, projects, anticipates, "likely" or believes. Forwardlooking statements represent only the Company's beliefs regarding the future many of which are by their nature inherently uncertain. The Company's actual results may differ, possibly materially, from those expressed or implied in the forwardlooking statements. Consequently, the Company wishes to caution readers not to place undue reliance on any forwardlooking statements. Among the factors that could cause the Companys actual results to differ from such forwardlooking statements are those described in the Registration Statement on Form F1 (Registration No. 333179839) filed by the Company with the Securities and Exchange Commission, including the Company's ability to transition successfully to a standalone operation, ongoing trends in the marketplace that affect the price and demand for the Company's products, the cost and availability of raw materials as well as the outcome of the Company's internal investigation relating to its operations in Brazil and the impact of the restatement of historical financial results. The Company undertakes no obligation to publicly update any forwardlooking statements, whether as a result of new information, future events or otherwise. This press release is based on preliminary figures for the financial year 2012. The preliminary figures for the financial year 2012 have not been audited. This press release is issued while the earlier announced investigation in Brazil has not yet been finalized. However, we do not except any further material adverse finding as a result thereof.
FornonGAAPmeasuresseepressrelease
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Agenda
Progressupdate Michiel Herkemij

FinancialPerformance2012

MichelCup

BusinessUpdate

Michiel Herkemij

Outlook

MichelCup

Progress Update

KeyMilestones
Spinoffsuccessfullycompleted OfficiallistingEuronextAmsterdamsinceJuly9 AEXindexinclusiontobeconfirmedinSeptember MovetonewheadquartersinAmsterdamcompleted

CompletionoftheBoardofDirectors
FinalnomineesfortheBoard
GeraldinePicaud
CFOofEssilor InternationalSA FormerCFOVolcafe (ED&FManGroup)

RobZwartendijk
RetiredPresidentandCEOAholdUSA HeldseveralboardmembershipsatlargeDutchmultinationals, includingmorethan10yearsaschairmanatNumico

UponapprovalbytheAGMonNovember28, theBoardwillbecomplete
6

UpdateonBrazil
AccountingirregularitiesinBrazilreportedonAugust1 Internalinvestigationlargelycompleted Nomaterialnewfindingsorfinancialimpactidentified Limitedcashoutflowexpected Allnecessarymeasureshavebeenidentified; implementationofremedialmeasuresstarted

Strengthening theOrganization: ActionsTaken

Makingtheorganizationsimplerandmorecommercially driven BeginningchangesbelowExCo level
30%ofGMsinnewposition MDcategoryteamsinstalled Centralsalesteamforcategorymanagement

OutofHome:Simplificationandstreamlining Creatingopenandperformancedrivenculture
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Financial Performance 2012

MichelCup

FinancialHighlightsFY2012
Totalsegmentsalesup9.5%*;reportedsalesup7.6% Strongunderlyingvolumereboundof+1.2%inQ4 comparedto(4.4)%inQ3 UnderlyingEBITmarginrelativelystableat12.3% Costsavingsprogramswellontrack NormalizedEPSat 0.45 Operatingworkingcapitalimproved220bps
*Onalikeforlikebasis(excludingforeignexchangeandscopeeffects) Adjusted,underlyingandnormalizedarenonIFRSfinancialmeasures.Seeourreconciliationtothemost directlycomparableIFRSmeasuresinourpressrelease,releasedatedAugust28,2012.
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Healthy SalesGrowth Development

%vs LY*

Q1 Reportedsalesgrowth Greencoffeeexport Segmentsalesgrowth 11.0 14.2 10.9

Q2 12.2 13.7 12.1

Q3 5.5 (36.0) 9.0

Q4 (1.0) (71.1) 6.5

FY2012 7.1 (25.0) 9.5

*onalikeforlikebasis(excludingforeignexchange&scopeeffects)

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StrongReboundinUnderlying VolumeGrowthinQ4
%vs LY*

Q1 Totalvolume Frenchprivatelabel Thailandflooding Underlyingvolumegrowth (4.9) (1.4) (3.5)

Q2 (7.3) (1.3) (2.4) (3.6)

Q3 (8.1) (1.4) (2.3) (4.4)

Q4 0.3 (0.9) 1.2

FY2012 (5.0) (1.2) (1.2) (2.6)

*onalikeforlikebasis(excludingforeignexchange&scopeeffects)

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VolumesarePickingUpwhilePriceand MixareDecreasing
%vs LY*

Q1 Volume Price Mix/Other Segmentsalesgrowth (4.9) 13.0 2.8 10.9

Q2 (7.3) 13.3 6.2 12.1

Q3 (8.1) 10.6 6.6 9.0

Q4 0.3 7.6 (1.4) 6.5

FY2012 (5.0) 11.1 3.4 9.5

*onalikeforlikebasis(excludingforeignexchange&scopeeffects)

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SalestoAdjustedEBIT
mln

FY2011 Sales Grossprofit Grossprofitmargin A&P A&Pasa% ofsales OtherSG&A AdjustedEBIT AdjustedEBITmargin 2,595 977 37.6% (138) 5.3% (486) 354* 13.6%

FY2012 2,793 1,008 36.1% (143) 5.1% (543) 321 11.5%

%vLY 7.6% 3.2% (150)bps 3.6% (20)bps 11.7% (9.1)% (210)bps

* 363mln and14%adjustedEBITmarginexcludingBrazilrestatements

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AdjustedEBITtoUnderlyingEBIT
IFRS mln

FY2011 AdjustedEBIT Strandedcosts Additional nonallocated costs Green coffeeexport OtheritemsBrazil UnderlyingEBIT UnderlyingEBITmargin 354 (30) (10) (17) 2 299 12.4%

FY2012 321 NA NA (6) 11 326 12.3%

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FinancialReview RetailWesternEurope
IFRS mln

FY2011 Sales AdjustedEBIT AdjustedEBITmargin 1,125 218 19.4%

FY2012 1,264 210 16.6%

%vLY* 11.7%

(260)bps

*onalikeforlikebasis(excludingforeignexchange&scopeeffects)

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FinancialReview RetailRestofWorld
IFRS mln

FY2011 Sales AdjustedEBIT AdjustedEBITmargin 649 41 6.4%

FY2012 757 49 6.5%

%vLY* 15.5%

(30)bps

*onalikeforlikebasis(excludingforeignexchange&scopeeffects)

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FinancialReview OutofHome
IFRS mln

FY2011 Sales AdjustedEBIT AdjustedEBITmargin 634 110 17.3%

FY2012 637 100 15.7%

%vLY* (0.3)%

(150)bps

*onalikeforlikebasis(excludingforeignexchange&scopeeffects)

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HigherotherSG&ALargelydueto StandAloneImpact
mln

OtherSG&AFY2011 Strandedcosts Additionalnonallocatedcosts Acquisition impact Others OtherSG&AFY2012

(486) (30) (10) (8) (9) (543)

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CostSavingsProgramsareWellonTrack
Announced 55 75mln ofsavingsbyFY15 Additionalsavingsidentified;savingsbyFY15willbeat thehigherendoftherange Expecttosave 25 30mln inFY13

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P&LExplained

NormalizedEPSat 0.45
mln

FY2011 AdjustedEBIT Shareofprofitfromassociates Unusualitems Netfinanceincome Tax Profit Normalizedprofitfortheperiod NormalizedEPS() Averagesharesoutstanding(mln) 354 2 (32) 47 (103) 267 NA NA NA

FY2012 321 0 (221) 150 (132) 118 267 0.45 595

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UnusualItems
Unusualitemsamountto (221)mln andinclude:
Spinrelateditems Restructuring TerminationcostsrelatedtopriorSenseocontractPhilips Newbusinessmodel

Unusualitemsexpectedtoamountto(55) (65)mln inFY13

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UpdateFinancialImpactBrazilian Operations
Internalinvestigationhasnowbeenlargelycompleted Noadditionalnewfindings Impactrestatements*onprofit:
PreH1FY12 H1FY12 (34)mln (3)mln

ImpactonprofitH2FY12
Otheritems Taxprovision (14)mln (30)mln

TotalimpactShareholdersEquitynotexpectedtoexceedthe rangeof 85 95mln

*RestatementsofhistoricalfinancialcarveoutcombinedfinancialstatementsasreportedintheF1/prospectus
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Business Update
Michiel Herkemij

TheTransformationBegins
YearI: Seedling YearII: Flowering YearIII: Harvesting Innovation programat cruisingspeed Accelerationof topandbottom linegrowth

Firstinnovations Innovationsin allcategories RelaunchSenseo Launchcostsaving Investinbrands programs Startworking capitalreduction Organization

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Netherlands: MarketShareContinuesUpwardTrend
(valueshare%)

Nielsendataexcludinginstants

27

France: ConsistentMarketShareGains
(valueshare%)

Nielsendataexcludinginstants

28

Spain: MarketShareStabilizesatRecordLevels
(valueshare%)

Nielsendataexcludinginstants

29

ConsumerPricesStablein Q4versusQ3FY12
Netherlands France Spain

FY12 Q4vs.Q3(Index) 106 99 100

30

PriceDistanceversusKeyCompetitors VirtuallyUnchanged
Netherlands France Spain

Q3

Q4

Q3

Q4

Q3

Q4

Keycompetitor(Index) Privatelabel(Index)

89

85

120 75

120 77

86 51

88 52
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NetherlandsRoast&GroundPremium LaunchContinuesGoodPerformance

Volume*(indexed)

Marketshare Q412 5.2% 57.1% 62.3%

Differencevs.LY +0.2% +0.3% +0.5%

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Premium Base TotalR&G

*DatathroughJune30th

105 102 102

NetherlandsR&GPremiumInnovationhas HelpedtoReverseDownwardTrend

CY2009 R&Gvolumegrowth(%vLY) (2)%

CY2010 (3)%

CY2011 (4)%

2012* +2%

*Sincelaunch

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Roast&GroundRollOutStarting

Belgium
June2012

Brazil
Mainstreamrange Premiumrange

September2012
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CapsulesContinuetoProgressVeryWell

FY12 NetSales 112mln France EstimatedMarketShareof Nespresso Capsules*

*Companyestimates

vLY +142% Spain 25% NL 13% Belgium 7%

35

10%

RelaunchOnTrack

Country Netherlands Germany Belgium France Spain Brazil July July August August September TBD

LaunchDate August August August September September October

36

Sarista OctoberLaunchintheNetherlands

37

OutofHome: AFirstStepTowardsProfitableGrowth
FocusonNetherlands,representingmorethan50%of OOHbusiness Drivetopline: Improveefficiency
Broadenproductoffering Improveproductquality Consistentbrandingwith retail Increaseinnovationrate Salesforceeffectiveness Streamlineorganization Simplifyprocesses

RestructuringannouncedJuly1, 7%ofworkforceaffectedwithanannualsavingof 5mln

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Outlook 2013

GreenCoffeeCoverageFY2013

%covered 67% 64% 24%

ArabicaEurope RobustaEurope %oftotal buying 35% 28% ArabicaBrazil 12%

17%
RobustaBrazil 27%

Totalbuying6mln bagsexcludinggreencoffeeexport

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VirtuousCircleofGrowth
LowergreencoffeepricesandFit4Growthsavingswill fuelmargins Partofmargintailwindwillbereinvestedbackintothe business
Productqualityimprovements Marketinginvestments Speeduprolloutinnovation

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Outlook2013

Salesgrowth*

+3%to+5%

Underlying EBIT margin improvement*

+150to+200bps

*Onalikeforlikebasis,excludinggreencoffeeexport

42

Dividend
Intentiontopayout25%ofnormalizednetprofitoffiscal year2013* IntentiontopayaninterimdividendinAugust/September 2013 Thecompanyhasnointentiontopayanadditionaldividend overFY2012asaresultofthespinoffandthespecial dividendpaidendofJune2012.

*Fiscal2013:July12012 December312013

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Q&A

Appendix

UpcomingEvents
Annualreport/20F Oct.10,2012

Q113Tradingupdate

Oct.23,2012

AGM

Nov.28,2012

H1FY13Results

EndofFeb.2013

46

FinancialReview NonAllocated
IFRS mln

FY2011 Salesgreen coffeeexport EBITgreen coffeeexport Nonallocated costs AdjustedEBIT 187 17 (33) (16)

FY2012 135 6 (43) (37)

47

NetFinanceIncome
FY2011 Interestexpense Interestincome Netforeignexchangegain/(loss) Changeinfairvaluederivative instruments Pensionfinanceincome InterestincomeonloanstoSaraLee Totalnetfinanceincome (21) 20 (41) 17 27 45 47 FY2012 (18) 22 45 (9) 38 72 150

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BalanceSheet
mln Assets EquityandLiabilities
Equity Property,plantandequipment Goodwillandotherintangibleassets Othernoncurrentassets 377 387 282 Borrowings Retirementbenefitobligations Provisions Othernoncurrentliabilities Noncurrentassets Inventories Tradeandotherreceivables Cashandcashequivalents 1,046 404 448 222 Noncurrentliabilities Borrowings Tradeandotherpayables Incometaxespayables Provisions Currentassets Totalassets 1,074 2,120 Currentliabilities Totalequityandliabilities 312 529 108 62 113 812 28 632 270 66 996 2,120
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OperatingWorkingCapitalImproved 220bpsversus2011
IFRS mln

FY2011 Inventories TradeReceivables TradePayables Operatingworkingcapital %oftotalsales 437 253 (265) 425 16.4%*

FY2012 404 275 (282) 397 14.2%

*BeforerestatementofBrazil18.3%,2012reflectsBraziladjustment

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AdjustmentsBrazilH1FY12
H12012* Sales Grossprofit A&PandotherSG&A AdjustedEBIT Incometax Profitfortheyear 1,387 509 (340) 169 (101) 71 H12012 Brazil (3) (1) (4) 1 (3) Total restated 1,387 506 (341) 165 (100) 68

*AsreportedintheF1/prospectus

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AdjustmentsBrazilFY11
FY2011* Sales Grossprofit A&PandotherSG&A AdjustedEBIT Incometax Profitfortheyear 2,602 985 (621) 363 (104) 276 FY2011 Brazil (6) (8) (2) (9) 1 (9) Total restated 2,595 977 (623) 354 (103) 267

*AsreportedintheF1/prospectus

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