2016 Annual Report

A Unique Moment.
A Unique Opportunity.

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Our brands make life better for hundreds of millions of consumers every day where they…

Live

Learn

Work

Play

We have a house
of leading brands

that compete in large,
growing global categories

Our new scale in key geographies,
customers and channels

Enables us to
outspend and
outperform
our competition

With investments in advantaged capabilities driving our brand growth agenda

e-commerce

insights

design

innovation

Plus $1.3 billion in annualized savings from Project Renewal and synergies through 2021
$
0 $1,300,000,000
driving simultaneous margin, earnings, and cash flow development.

We are creating a new company that will be one of
the most transformative in our industry

This is our unique opportunity

This is our unique moment

This is