Colgate Palmolive India : Transcript of Analysts/Institutional Investor Meet/Con. Call

This is further to our letter dated December 13, 2022, regarding an Analyst Conference Call, please find enclosed herewith the transcript of Analyst Conference Call held on December 13, 2022.

The aforesaid transcript is also available on the website of the Company at the link mentioned below:

Link-https://www.colgateinvestors.co.in/presentation-to-analyst/presentation-details-2022/

This is for your information and records.

Thanking you,

Yours Sincerely,

For Colgate-Palmolive (India) Limited

SURENDER Digitally signed by

SURENDER SHARMA

SHARMA Date: 2022.12.16 19:31:57 +05'30'

Surender Sharma

Whole-time Director- Legal &

Company Secretary

Membership No.: F8913

Encl:a/a

COLGATE-PALMOLIVE (INDIA) LIMITED

CIN: L24200MH1937PLC002700

Regd. Office: Colgate Research Centre, Main Street, Hiranandani Gardens, Powai, Mumbai 400 076

Tel.: (022) 6709 5050, Fax: (022) 2570 5088

Website. www.colgatepalmolive.co.in e-mail ID. investors_grievance@colpal.com

"Colgate-Palmolive (India) Limited Analyst/Investor

Conference Call"

December 13, 2022

MANAGEMENT MS. PRABHA NARASIMHAN --MANAGINGDIRECTOR &

CEO, COLGATE-PALMOLIVE(INDIA) LIMITED

MR. M.S JACOB - WHOLE-TIMEDIRECTOR AND

CHIEF FINANCIAL OFFICER, COLGATE-PALMOLIVE

(INDIA) LIMITED

MR. SURENDER SHARMA - WHOLE-TIMEDIRECTOR,

LEGAL & COMPANY SECRETARY, COLGATE-

PALMOLIVE (INDIA) LIMITED

MR. BALAJI SREENIVASAN - EXECUTIVE VICE

PRESIDENT (HR), COLGATE-PALMOLIVE(INDIA)

LIMITED

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COLGATE-PALMOLIVE(INDIA) LIMITED

December 13, 2022

MS. SARALA MENON --EXECUTIVE VICE PRESIDENT,

MANUFACTURING AND PRODUCT SUPPLY CHAIN,

COLGATE-PALMOLIVE(INDIA) LIMITED

MR. RUCHIR BHATNAGAR --VICE PRESIDENT,

CUSTOMER DEVELOPMENT, COLGATE-PALMOLIVE

(INDIA) LIMITED

MS. SWATI AGARWAL --VICE PRESIDENT, INDIA

GLOBAL TECHNOLOGY CENTER, COLGATE-

PALMOLIVE (INDIA) LIMITED

MS. SUJATA NAIRI --ASSOCIATE DIRECTOR,

COMMERCIAL AND INVESTOR RELATIONS, COLGATE-

PALMOLIVE (INDIA) LIMITED

Disclaimer: This transcript has been edited to remove any grammatical inaccuracies or inconsistencies of English language that might have occurred inadvertently while speaking

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COLGATE-PALMOLIVE(INDIA) LIMITED

December 13, 2022

Sujata Nairi:Hello, everyone. Good morning, and welcome to the Colgate-Palmolive Analyst Conference Call today. I'm Sujata Nairi, Associate Director, Commercial and Investor Relations. And I would like to extend a very warm welcome to all of you here, who are physically present and also to the participants who have joined us virtually. It looks really nice to see a lot of familiar faces around. So, thank you for being here. The session today will be for 90 minutes. We will start with a presentation from the leadership team. Post that, we'll have a question-and-answer session for 30 minutes, and we'll try our best to answer all your questions.

Before we start the session today, let me just remind you of our safe harbor policy. Please note that the conference may have some forward-looking statements. These statements are based on our views and assumptions at this point of time and are not a guarantee of our future performance. Before we go further, let me just introduce you to the management team of Colgate-Palmolive. We have Prabha, the Managing Director and CEO; Jacob, the Whole-Time Director and Chief Financial Officer; we have Surender, who's the Whole-Time Director, Legal; Balaji, who is Executive Vice President, HR; Sarala, who is Executive Vice President, Manufacturing and Supply Chain; Arvind, who is Vice President, Marketing; Niraj, who is Director, New Geographies; Ashish, who is Vice President, CS&L; we have Ruchir, who is Vice President, Customer Development; and we have Swati Agarwal, who is Vice President, India Global Technology Center.

Actually, Niraj, Ashish and Arvind could not join us today due to certain prior commitments. I would now request Prabha to share her opening comments as well as on the overall CP India strategy.

Prabha Narasimhan: Thank you very much, Sujata. Good morning, everybody. It's really a pleasure to see all of you here today. This is absolutely my first analyst meet at Colgate. I've been in this organization 100 days. And before I started talking to you about our perspective on Colgate and the way forward, I thought I'd take this opportunity to just talk you through what I've done that's brought me here in the first place.

So, I was actually just this last weekend at my 25th year reunion of IIM Bangalore, having graduated from that institute in 1997, and straight from there joined HUL, where I spent the last whatever, give or take, 24 years across numerous different businesses of HUL and numerous different functions, including consumer insight, sales across both Delhi and South branches. And over my last couple of roles, actually, I've had the opportunity to handle their Skin Care and Colors business and then most recently, the Home Care business over the last 2 years. I have the greatest of regard for that organization. And a lot of the stuff that you hear is really learnings from there in terms of how you build categories, how you build great brands and how you build businesses. And I'm actually really privileged to be able to move from an organization of that caliber to an organization of this caliber. And I'm very, very excited to be here.

So, I want to start with really what were early reflections of Colgate. I'm sure a lot of this information is not new to you, but certainly worth us reiterating. It is India's most penetrated

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COLGATE-PALMOLIVE(INDIA) LIMITED

December 13, 2022

brand. There is not another brand in this country that reaches more households than the Colgate brand. It has its spontaneous awareness in the category of near universal.

There are 4% of the country who when you ask them, Oral Care or toothpaste, don't say Colgate, but 96% of the country, otherwise, thinks of Colgate when you say Oral Care. We are about 3x bigger than the second biggest player in the Oral Care category. And I think that becomes both a privilege as well as a responsibility and we will talk about both facets of privilege and responsibility as we go forward.

I want to reiterate this piece because this was one of the things that really struck me as I entered this category. This is a company that is largely a single-category company in Oral Care. But in Oral Care, actually, I don't think there are many companies or there are any companies that are better than Colgate. Cutting-edge technology, we have thousands of scientists who on a daily basis are working towards making sure that the products that we have, have fabulous scientific underpinning backed by the right clinicals and are constantly on the quest of making them better and better, and we'll talk through some of these technologies as we go forward.

We have numerous research studies and a whole series of patents, almost about 1,500 patents a year. A couple of the most recent ones include the recyclable toothpaste tube, the arginine technology that goes into Colgate strong teeth, the MPS technology that goes into Colgate whitening. And I'll talk about some of these as we go forward. And we're actually very, very proud of the fact that we have 2.7x higher publications than the next player. And this underpinning of science is something that we will revisit as we discuss the way forward.

But what makes Colgate, I think truly fabulous in India is really its execution prowess. Small, focused company relatively speaking, but the reach of 1.7 million stores, actually comparable to pretty much everybody. 95% of these are active every quarter. And we have 70% of them now working on the algorithm, where we get the data, we're able to see what is sell in, what is sell out, what's our ability to add assortment and to make sure that we are constantly expanding what is both the availability in the right place at the right time as far as these stores are concerned.

And when you look at direct trade or modern trade, we're actually exceedingly lucky to have category captaincy, great partnerships with all of the key modern trade customers in this country. 75% of our business is actually supported by on-site merchandisers who help us to create the fabulous execution that I hope that you see when you shop. And as a result of this fabulous partnership, actually, our shares in the future-facing channels, which is both e- commerce as well as modern trade are usually higher than the shares that we have in traditional trade, which is, I think, a tremendous advantage for us as we do expect that these channels will grow faster and faster.

This is another unique area that is quite specific to Colgate. I'm sure many of you as I have grown up with the Colgate Dentist in advertising, and the fact that Colgate has the seal of

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