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Strategic Decisions: Vision into Action and Beyond

16 September 2009

Welcome
• Refer you to our forward looking statements • Operating under the UK Takeover Code • Unable to repeat or update near-term targets or growth expectations • All our conversations with the market will need to be monitored by an approved financial adviser

Todd Stitzer
Chief Executive Officer

Vision into Action and Beyond
• Compelling strategy to drive growth
• Bottom up plan of priorities and actions • Stretching but achievable goals

• Clear differentiation to enable success
• Confectionery: an attractive growth market • Investing in and benefiting from growth markets

• Delivering on our promises and confident in our ability to execute • Delivering on our Vision into Action targets

• Well positioned to capitalise on future growth opportunities

Our Vision into Action sets clear goals
Performance Scorecard 4-6% organic revenue growth Total confectionery share gain Mid-teens margins by 2011 Strong dividend growth Priorities Growth Efficiency Capabilities Improved Return on Capital Efficient balance sheet

Sustainability

Over the last five years revenue growth has been strong
Cadbury 5-year CAGR 6.3% pa

7.2% 6.4%

7.2% 6.9%

4.0%
Market 5-year CAGR 5.3% pa

2004

2005

2006

2007

2008

Note: Growth rates are rebased to prior period exchange rates, and exclude Australia Beverages

At the same time our market share has significantly increased Global Confectionery Share
+100bps share gain

10.3%

9.3%

2003
Source: Euromonitor, Historic regional / global values are the aggregation of local currency country data at current prices converted into the common currency using fixed exchange rates.

2008

We adapted well to challenges of cost inflation to sustain good levels of revenue growth

Up 7.2% Up 6.4% Up 4.0%
5% price mix

Up 6.9% Up 4%

6% price mix

6% price mix

2005

2006

2007

2008

H1 2009

Price Mix

Volume

2007–09 objective has been to recover increased input costs Note: Growth rates are rebased to prior period exchange rates, and exclude Australia Beverages

Despite higher prices, our commercial strengths ensure we continue to grow market share

Growing

H1 2009 Market Share

50%

share growth >25 bps

25%
Declining

25%

share declining >25 bps

Source: IRI/Nielsen and company analysis

Long-term trend for good growth in confectionery looks set to continue • Spend on confectionery remains high, up 4%* in 2009 • Our emerging markets are sustaining high levels of growth • Our category mix benefits from ‘stay at home’ behaviour • Private label remains a small segment of the market • Long-term dynamics for growth in gum remain strong • Functional benefits of the product driving per capita use • Innovation set to broaden mass appeal of the product

Many of our strategic choices focus on driving future revenue growth and market share gains

* Euromonitor 2008

Future growth is expected to be driven by higher volumes and further share gains • Reduced need for significant price increases • Lower levels of input cost inflation

• Stronger growth from traditional gum markets
• Activity driven demand should respond to economic growth • Relevant innovation is expected to build per capita consumption

• Our key emerging markets are expected to grow over 10%* in next three years • Increased penetration of higher value brands

* Euromonitor 2008

What key strategic choices are we making to drive growth and market share gains?

Route to Market

Emerging markets

Marketing & Innovation

White space

What key strategic choices are we making to drive growth and market share gains?

Route to Market

Emerging markets

Marketing & Innovation

White space

Strength of our Routes to Market represents a key competitive advantage • Significant proportion of confectionery is sold through the small format...
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