2011 Annual Meeting of Shareholders

Robert A. McDonald
Chairman of the Board, President & Chief Executive Officer

Jon R. Moeller
Chief Financial Officer Offi

Deborah P. Majoras
Chief Legal Officer & Secretary S t

Board of Directors d f

Angela Braly g y

Ken Chenault

Scott Cook

Susan Desmond-Hellmann

Jim McNerney y

Johnathan Rodgers g

Meg Whitman g

Maggie Wilderotter gg

Pat Woertz

Ernesto Zedillo

Greg Weaver John Rhodes

Peter Descovich

www.pg.com

2010 Annual Meeting of Shareholders

Report on the B i th Business

Innovating for Everyday Life I ti f E d Lif

Robert A. McDonald
Chairman of the Board, President , and Chief Executive Officer

p Our Purpose
We will provide branded products and services of superior quality and value that improve the lives of the worlds consumers, now and for generations to come. As a result, consumers will reward us p profit and value with leadership sales, p creation, allowing our people, our shareholders, and the communities in which we live and work to prosper.

Innovating for Everyday Life

Growth Strategy gy

Touching and Improving M Lives i More C Consumers Li in More Parts of the World More Completely.

2010/11 Results

4%
Organic Sales Growth (1) h

8%
Core EPS Growth (2) h

(1) Net sales excluding the impact of foreign exchange, acquisitions and divestitures (2) EPS from continuing operations excluding certain tax, legal and restructuring items

2010/11 Results
Quarterly Dividend Stock Yield Dividends Paid
Dividend yield is based on June 30, 2011 closing price

9% 3.3% $5.8B $

2011/12 Priorities
Continue our sales growth momentum g Execute the price increases weve taken with excellence Deliver quality earnings growth driven by operating income Improve productivity in all we do

Innovating for Everyday Life

Innovation Wins Decades

UK La ndr 1980 to Now Laundry: No
55 50
1989: Launch of Fairy Non Bio 1992: Launch of Concentrated Liquids 2001: Launch of P&G Liqui-tabs 2008: Launch f of P&G G l Gels 2010: Acti-lift T h l Technology

Vo olume Sh hare

45 Daz Automatic 40 35 30 25 20

1978: Launch of

2007: Launch of Small & Mighty

2009: Persil Centenary

1984: Re-introduction of Persil Original (Non Bio)

1994: Launch of Persil Power

1998: Launch of Tablets (Lever)

P&G Lever
1994 1998 2001 2007 2008 2009 2010 to date

1978

1984

1989

1992

Innovation Wins Decades

Toothpaste: US Toothpaste 1990s vs 2000s s
40
1991: Crest Neat Squeeze Pump 2000: Crest Whitestrips hi i 2005: Crest Pro-Health Rinse 2004: Crest Vivid White 2009: Scope Outlast 2010: Crest 3D White 2010: Crest 2006: Crest ProHealth Paste Pro-Health Sensitive Shield

35

30
1992: First Crest Toothbrush introduced 1995: Crest Gum Care 2004: Colgate MaxFresh 2002: Crest Whitening g Plus Scope 2008: Colgate Total Advanced

25

2010: Colgate Pro-Clinical

20
1997: C l 99 Colgate Total l

15 1990
* 1990 1991 values are Volume Share

Crest Colgate l
2000 2005 2010

1995

p 2010 Top Pacesetter Products

Gillette Guard: Providing a Better Shave for More Than Billi Men Th a Billion M

Crest 3D White: Innovating More Completely for Smile That Turns H d f a S il Th t T Heads

Gain Dishwashing Liquid: Bringing a Beloved Scent to More Parts of the Home

Head & Shoulders: Caring for More Itchy Scalps A S l Around th W ld d the World

Old Spice: Touching M Lives T hi More Li Through Social Media

g Long-term Vision

Powering our plants with 100% renewable energy bl

Using 100% renewable or recycled materials for all products d k i and packaging

Having zero consumer or manufacturing waste going to l dfill i landfills

Innovating for Everyday Life I ti f E d Lif

El ti Election of Di t f Directors

Nomination of Directors
Angela Braly Kenneth Chenault Scott Cook Susan Desmond-Hellmann

Robert McDonald

James McNerney

Johnathan Rodgers J h th R d

Meg Whitman

Maggie Wilderotter

Patricia Woertz

Ernesto Zedillo

B d Board Proposals P l

Shareholder Sh h ld Proposals P l

Voting g

Questions & Q ti Comments C t

Results of V ti f Voting