STRONG Q RESULTS FY 2011 TARGETS CONFIRMED

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1 A World Leader in Household, Health and Personal Care STRONG Q RESULTS FY 2011 TARGETS CONFIRMED 25 October 2011 Results at a glance Q3 % change % change YTD % change (unaudited) actual constant actual m exchange exchange m exchange Net revenue 2, , Like-for-like growth* +4% +4% Operating profit - reported , Operating profit adjusted** , Net income reported , Net income adjusted** , EPS (diluted) reported 63.2p p +6 EPS (diluted) adjusted** 63.9p p +10 * Like-for-like ( LFL ) growth excludes the impact of changes in exchange rates, major acquisitions (SSL & Paras) and disposals. ** Adjusted results (including % change figures) exclude exceptional items (see page 2). Q3 highlights (at constant exchange unless stated): LFL growth (excluding SSL and Paras) +4% (+3% ex-rbp). SSL net revenue growth of 5% to 227m. Total net revenue growth of +15% to 2,448m. % change constant exchange Adjusted net income +10% (actual exchange, +10% constant). Year to date highlights (at constant exchange unless stated): LFL growth (excluding SSL and Paras) +4% (+3% ex-rbp). SSL net revenue growth of +2% on a comparable basis to 652m. Total net revenue growth of +15% to 7,069m. Adjusted net income +10% (actual exchange, +12% constant). Net working capital of minus 941m (YE m). Net debt of 2,172m (YE 2010: 2,011m), with strong cash flow offset by two dividends, acquisitions and restructuring. Commenting on these results, Rakesh Kapoor, Chief Executive Officer, said: Reckitt Benckiser had a strong quarter, with like-for-like growth of +4% (total growth of +15%), driven by initiatives such as Mucinex Fast Max (USA), Nuromol and Strepsils Warm, Finish Quantum (USA) and Dettol launches in Europe and Developing Markets. For the year to date, net revenue growth of +15% and adjusted net income growth of +12% (both at constant FX) are ahead of the Group s FY 2011 targets. In Q4 we continue to target further strong LFL growth. Total growth will slow as we lap the acquisition of SSL and the buy back of distribution rights in the European & Rest of World RBP business. We will also have a one-off decline in revenue and profit at RBP*. Assuming a normal flu season, we are on track to reach our FY 2011 targets of +12% growth in net revenue and +10% growth in net income (both at constant exchange). Delivery of our full year targets will mean Reckitt Benckiser achieving another year of above industry-average growth in very challenging market conditions. * for details see p.6 1

2 SUMMARY Q3 highlights at constant exchange unless stated: LFL growth +4% (+3% ex-rbp), excluding SSL and Paras. SSL net revenue growth of 5% to 227m. The acquisition of Paras adds 17m, an impact of 0% (+1% ex-rbp) to net revenue growth numbers. Total net revenue growth of +15% to 2,448m. Gross margin -110bp to 59.7% reflecting higher input costs and intensive promotional spend offset by cost optimisation and mix. SSL integration on track: Q3 includes an exceptional charge of 7m for restructuring, mainly relating to the integration of the SSL business and 1m of exceptional finance charge included in net interest. Media investment +8% at 9.1% of net revenues. Within this, media on the base business was -40bp at 10.4% of net revenue. Adjusted operating margin -40bp to 26.3%. The margin excluding RBP showed a small improvement (+10bps) offset by margin dilution at RBP from the conversion to Film. Adjusted net income +10% (actual exchange, +10% constant): adjusted diluted EPS of 63.9p (+9%). Year to date ( YTD ) highlights at constant exchange unless stated: LFL growth +4% (+3% ex-rbp), excluding SSL and Paras. SSL net revenue growth of +2% on a comparable basis to 652m. The acquisition of Paras adds 35m, an impact of 1% (+1% ex-rbp) to net revenue growth numbers. Total net revenue growth of +15% to 7,069m. Gross margin -80bp to 59.4% reflecting higher input costs and intensive promotional spend offset by cost optimisation and mix benefits. SSL integration on track - full year cost synergies target of 50m achieved. YTD includes an exceptional charge of 61m for restructuring, mainly relating to the integration of the SSL business, and 3m of exceptional finance charge included in net interest. Media investment increased by 9% at 10.5% of net revenues. Within this, media on the base business was maintained at 11.9% of net revenue. Adjusted operating margin maintained at 24.7%. Adjusted net income +10% (actual exchange, +12% constant): adjusted diluted EPS of 172.9p (+10%). Net working capital of minus 941m, reflecting a further improvement versus 31 December Net debt of 2,172m (31 December 2010: 2,011m), with strong free cash flow generation being more than offset by the payment of two dividends totaling 873m, the acquisition of Paras Pharmaceuticals Limited and cash restructuring payments. 2

3 Basis of Presentation and Exceptional Items The results include the business of SSL International plc ( SSL ) from 1 November 2010, and Paras Pharmaceuticals Limited ( Paras ) from 1 April 2011, their respective dates of acquisition. Operating profit is not separately disclosed for SSL or Paras as, in the view of the Directors, it is not practicable to identify their operating profit due to their integration into the commercial infrastructure of Reckitt Benckiser. Where appropriate, the term like-for-like ( LFL ) describes the performance of the business on a comparable basis, excluding the impact of major acquisitions, disposals, discontinued operations and foreign exchange. LFL analysis excludes the impact of SSL and Paras. Where appropriate, the term base business represents the Europe, North America & Australia and Developing Markets geographic areas, and excludes RBP, SSL and Paras. Where appropriate, the term adjusted excludes the impact of exceptional items. There was an exceptional pre-tax charge of 64m in YTD September 2011 mainly relating to integration and transaction costs arising from the acquisition of SSL. This exceptional pre-tax charge is reflected in reported operating profit ( 61m, of which 2m relates to transaction fees) and net interest ( 3m, being financing costs associated with the acquisition). There were no exceptional items in YTD September The tax effect of exceptional items in the period is 16m. Third quarter 2011 Detailed Operating Review: Total Group RB delivered a strong Q3 LFL net revenue growth of +4% (constant). SSL contributed 227m net revenue in the quarter, representing a LFL growth rate of +5% versus the comparable quarter in 2010, and Paras net revenue was 17m. Total net revenue increased +16% (+15% at constant exchange) to 2,448m. The gross margin declined by 110bp to 59.7%, with mix benefits, savings from cost optimisation programmes and a positive transaction impact from foreign exchange being more than offset by higher input costs and increased investment in price and promotion to support volume shares, especially in Europe. Total marketing investment was higher, and media investment rose +8% (+6% constant) to a level of 9.1% of net revenue. Within this, media spend on the base business was -40bp at 10.4% of net revenue reflecting media mix, with a higher proportion in digital media and the timing of media campaigns. On an adjusted basis, operating profit was ahead +14% (+15% constant) to 645m: the adjusted operating margin declined by -40bp to 26.3% due to RBP. Excluding RBP, the adjusted operating margin increased by +10bp. Net finance expense was 4m (Q3 2010: net finance income of 4m), of which 1m is an exceptional charge in respect of financing costs associated with the acquisition of SSL. The tax rate was 26%. Net income as reported was 465m, an increase of +9% (+9% constant) versus Q3 2010; on an adjusted basis, net income rose +10% (+10% constant). Diluted earnings per share of 63.2 pence were +8% higher on a reported basis; on an adjusted basis, the growth was +9% to 63.9 pence. Year To Date (nine months) 2011 YTD LFL net revenue growth was +4% (constant). SSL contributed 652m net revenue, representing a LFL growth rate of +2% versus the comparable period in 2010 and Paras net revenue was 35m. Total net revenue increased +14% (+15% at constant exchange) to 7,069m. The gross margin declined by -80bp to 59.4%, with mix benefits, savings from cost optimisation programmes and a positive transaction impact from foreign exchange being more than offset by higher input costs and increased investment in price and promotion to support volume shares, especially in Europe. Total marketing investment was higher, and media investment rose +9% (+9% constant) to a level of 10.5% of net revenue. Within this, media spend on the base business was maintained at 11.9% of net revenue. Media investment continues to switch from traditional TV channels to digital and other media which are a more effective medium for reaching consumers, particularly for some Health & Personal Care powerbrands, and are more cost effective. Cost synergies from the acquisition of SSL have achieved the 50m target for the full year. On an 3

4 adjusted basis, operating profit was ahead +14% (+16% constant) to 1,748m; the adjusted operating margin remained unchanged at 24.7%. Net finance expense was 15m (YTD 2010: net finance income of 11m), of which 3m is an exceptional charge in respect of financing costs associated with the acquisition of SSL. The tax rate was 26%. Net income as reported was 1,224m, an increase of +6% (+7% constant) versus YTD 2010; on an adjusted basis, net income rose +10% (+12% constant). Diluted earnings per share of pence were +6% higher on a reported basis; on an adjusted basis, the growth was +10% to pence Business Review Summary: % net revenue growth YTD 2011 Like-for-like Impact of Exchange Reported SSL & Paras Europe -1% +18% +1% +18% NAA +2% +3% -2% +3% DvM +12% +12% -1% +23% Group ex-rbp +3% +12% -0% +15% RBP +18% +0% -5% +13% TOTAL +4% +11% -1% +14% The Business Review below is given at constant exchange rates. Europe 43% of net revenue YTD 2011 total net revenue increased +17% to 3,060m, with LFL growth of -1%. Volume sales were stable year-on-year, but net pricing has been negative reflecting higher levels of promotional spend to protect volume shares against aggressive competition and this continues to be the key factor behind the LFL reduction in net revenue in both Q3 and YTD By category, in Healthcare, Nurofen, Strepsils and Gaviscon delivered a strong result, supported by such new initiatives as Nuromol and Strepsils Warm, and benefiting from a more normal incidence of cold/ flu in Q The increase in Personal Care was driven by the continued rollout of the Dettol No Touch Hand Soap System, which continues to deliver a very encouraging early result. Growth in Surface Care came from Dettol and Harpic, and the result in Home Care being boosted by such recent initiatives as the Air Wick 100% natural propellant spray and Air Wick Odour Detect as well as continued growth in candles. The decline in Fabric Care was largely due to continued weakness in Laundry Detergents and Fabric Softeners in Southern Europe. Heavy promotional investment continues behind Vanish to protect volume share against competition. YTD adjusted operating profit was ahead +11% at 667m; the adjusted operating margin decreased 120bp, due to a combination of increased investment in price and promotion and higher input costs. In Q3, net revenue rose +17% to 1,022m, with LFL growth of -1%. Adjusted operating profit was 229m, with the margin -90bp lower at 22.4%. North America & Australia 24% of net revenue YTD 2011 total net revenue increased +5% to 1,712m, with LFL growth of +2%. Growth came from Health & Personal Care, Dishwashing and Food. The increase in Health & Personal Care was driven by Mucinex, which benefited from the Q3 roll out of Mucinex Fast Max plus a more normal incidence of cold/ flu in Q In Dishwashing, Finish Quantum and All-in-1 tablets and gel packs contributed an excellent performance. The increase in Food came from the consumer brands of French s Yellow Mustard and Frank s Red Hot Sauce, which was supported by additional marketing activity. 4

5 YTD adjusted operating profit increased +14% to 419m; the adjusted operating margin was +210bp higher at 24.5%. Q3 net revenue rose +5% (+3% LFL) to 618m and adjusted operating profit was ahead by +8% to 178m, equating to a +50bp uplift in the margin to 28.8%, impacted by the launch of Mucinex Fast Max, although the product was only on-shelf at the end of September. Investment behind the launch and other marketing initiatives helped to increase underlying growth in the quarter. Developing Markets 25% of net revenue YTD 2011 total net revenue was ahead +24% (+12% LFL) to 1,728m. Growth has been evident across all regions. In Health & Personal Care, Dettol continued to grow well; in addition, Strepsils, Gaviscon and Veet also delivered a strong result. The increase in Fabric Care was driven by Vanish, while Harpic and Veja were the key drivers in Surface Care. In Home Care, both Air Care and Pest Control contributed to the performance. YTD adjusted operating profit increased by +39% to 287m. This resulted in a +170bp improvement in the adjusted operating margin to 16.6%. Q3 net revenue increased by +25% to 599m (+10% LFL). Adjusted operating profit improved +48% to 99m, with a +240bp uplift in the margin to 16.5% Category Review (at Constant Exchange Rates) Health & Personal Care. YTD LFL net revenue increased +8%. Total net revenue increased +43% to 2,365m. In Healthcare, the result was driven by very good growth for Nurofen, Mucinex, Strepsils and Gaviscon, boosted by such new initiatives as Strepsils Warm and Mucinex Fast Max, and also benefiting from a more normal incidence of cold/ flu in Q In Personal Care, Dettol continued to grow well both in Developing Markets, and in Europe where the continued roll-out of the No Touch Hand Soap System has been very encouraging. In Q3, Health & Personal Care LFL net revenue rose +6% and total net revenue +38% to 829m. Fabric Care. YTD net revenue decreased by 6% to 1,146m, predominantly driven by continued weakness in Laundry Detergents and Fabric Softeners in Southern Europe. The Company continues to invest aggressively to protect the market position of Vanish against competitor launches and intensive promotional activity; as a result market share trends are improving. Q3 net revenue declined 6% to 389m. Surface Care. YTD net revenue grew +4% to 1,069m. There was good growth for Dettol/Lysol and Veja, with a strong result for Harpic being boosted by Power Plus and Max Power toilet liquids. Q3 net revenue increased +6% to 377m. Home Care. YTD net revenue increased +4% to 874m, with growth in both Air Care and Pest Control. In Air Care, the result was supported by the launch of Air Wick 100% natural propellant spray and Air Wick Odour Detect, with continued good growth in candles. In Pest Control, a strong season and growth in automatic sprays contributed to the performance. Q3 growth was +8% to 305m. Dishwashing. YTD net revenue increased +2% to 666m, behind continued success for Finish Quantum and All-in-One. Q3 net revenue was +4% at 213m. Other. YTD net revenue was 160m (Q3: 55m), largely due to the inclusion of certain brands from the acquisition of SSL. Total Household and Health & Personal Care. YTD net revenue was ahead by +15% (+3% LFL) to 6,280m. In Q3, total Household and Health & Personal Care grew +16% to 2,168m, with LFL growth of +3%. Food. Net revenue grew +6% to 220m, with a good performance from the consumer brands of French s Yellow Mustard and Frank s Red Hot Sauce, boosted by additional marketing investment. Adjusted operating profit increased +11% to 59m. Q3 net revenue grew +3% and adjusted operating profit was 21m (+11%). 5

6 Reckitt Benckiser Pharmaceuticals (RBP) Pharmaceuticals 8% of net revenue RBP had a stronger than expected Q3 ahead of a price increase on Suboxone tablets in the US. Q3 net revenue increased 11% to 209m. In the U.S., the recently-launched and patent-protected Suboxone film variant continued to grow, and by the end of September had captured a 44% volume share of the total market and is now the market leader, ahead of tablets. Adjusted operating profit increased +8% to 139m, with the margin -120bp lower at 66.5% mainly reflecting the margin dilution from switching to Film. YTD 2011 total net revenue grew +18% to 569m. The U.S. business grew net revenue +9% to 439m of which the film generated 173m. In Europe and Rest of the World, the result was helped by the buyback of the sales and distribution rights in the majority of countries in July Adjusted operating profit for the total RBP business increased +13% to 375m. The operating margin was down 280bp to 65.9%, largely due to the lower margins of the new film variant and lower margins in the acquired business in Europe and Rest of the World. In Q4, RBP results will be affected by the impact of recent US Health reforms, as a result of which higher rebates to Medicaid are required, the full extent of which are only now coming through. These will require adjustment to previously estimated rebates, to be booked in Q4. The Q3 buy-in ahead of the price increase will also reverse. As a result, RBP net revenues, on a one-off basis, are expected to be down in Q4 by a mid-teens percentage, with profit down by a higher percentage, compared to an exceptionally strong quarter last year when the film was being rolledout. The in-market sales trend remains on a healthy growth track. At this time the Group has no new intelligence as to the timing of potential generic competition to the Suboxone Tablets in the USA. Suboxone has data exclusivity in Europe until 2016; in the U.S., Suboxone lost the exclusivity afforded by its Orphan Drug Status on 8 October As a result of the loss of exclusivity in the U.S., up to 80% of the revenue and profit of the Suboxone tablet business might be lost in the year following the launch of generic competitors, with the possibility of further erosion thereafter. On 31 August 2010, the Group announced that it had received approval from the U.S. Food and Drug Administration for its New Drug Application to manufacture and market Suboxone sublingual film. Suboxone sublingual film is a patient-preferred formulation that is patent-protected beyond As the Group is seeing rapid transfer from Suboxone tablets to the sublingual film, there is a short-term dilutive impact on net revenue and operating profit. However, in the event of generic competition to the tablet, the Group expects that the Suboxone film will mitigate the impact of generic tablet launches. Financial Review Basis of preparation. The unaudited financial information is prepared in accordance with IFRSs as adopted by the European Union and IFRSs as issued by the International Accounting Standards Board, and with the accounting policies to be applied in the financial statements for the year ending 31 December These are not materially different from those set out in the Group s 2010 Annual Report and Accounts. Constant exchange. Movements in exchange rates relative to sterling affect actual results as reported. The constant exchange rate basis adjusts the comparative to exclude such movements, to show the underlying growth of the Group. Net finance expense. Net finance expense was 15m (2010: net finance income of 11m), reflecting the acquisition of SSL and Paras. The YTD 2011 net finance expense includes a 3m exceptional charge in respect of financial costs associated with the acquisition of SSL. Tax. The overall effective tax rate is 26% (2010: 25%). 6

7 Net working capital (inventories, short-term receivables and short-term liabilities excluding borrowings and provisions) of minus 941m was a 27m improvement versus the 31 December 2010 level. Net debt at the end of September was 2,172m (31 December 2010: 2,011m), an increase of 161m. This reflected strong free cash flow generation, more than offset by the payment of two dividends totaling 873m and the acquisition of businesses (principally Paras) for 460m. The Group regularly reviews its banking arrangements and currently has adequate facilities available to it. Restructuring charge. A total pre-tax exceptional charge of around 250m is expected to be incurred in respect of the acquisition of SSL and further reconfiguration of the enlarged Group. In FY 2010, there was an exceptional pre-tax charge of 104m, reflected in reported operating profit ( 101m, of which 22m related to transaction fees) and net interest ( 3m, being financing costs associated with the acquisition). In YTD 2011, an exceptional pre-tax charge of 64m was incurred, of which 61m is reflected in reported operating profit (of which 2m relates to transaction fees) and 3m is included in net interest. Contingent liabilities. The Group is involved in a number of investigations by competition authorities in Europe and has made provisions for such investigations, where appropriate. Where it is too early to determine the likely outcome of these matters, the Directors have made no provision for such potential liabilities. The Group from time to time is involved in disputes in relation to ongoing tax matters in a number of jurisdictions around the world. Where appropriate, the Directors make provisions based on their assessment of each case. On 23 February 2011, the Group received a civil claim for damages from the Department of Health and others in the United Kingdom, regarding alleged anti-competitive activity involving the Gaviscon brand. The claim is under review and although it is at an early stage, the Directors do not believe that any potential impact would be material to the Group financial statements Targets The targets for the total Group remain +12% net revenue growth (base: 8,453m) and +10% adjusted net income growth (base: 1,661m adjusted to exclude the impact of exceptional items), both at constant exchange. These targets exclude the potential impact of generic competition to the Suboxone tablets in the U.S. The implicit target for like-for-like net revenue growth is +4%. This target assumes a normal flu season in Q For SSL, the Group expects net revenue growth on a like-for-like basis of around +4% (base: 792m). The Group targeted to add 50% of the 100m cost synergies to the 2010 profit level. An exceptional pre-tax charge in the region of 150m is expected to be incurred in 2011 and 2012, of which around 4m will be exceptional financing costs. Preliminary results for the year to December 2011 will be reported on 8th February

8 The Group at a Glance (Unaudited) Quarter ended Nine months ended m m m m 2,448 2,112 Net revenue total 7,069 6,176 +4% +7% Net revenue growth like-for-like +4% +6% +15% +7% Net revenue growth constant +15% +6% +16% +11% Net revenue growth total +14% +9% 59.7% 60.8% Gross margin 59.4% 60.2% EBITDA adjusted* 1,866 1, % 28.2% EBITDA margin adjusted* 26.4% 26.2% EBIT 1,687 1, EBIT adjusted* 1,748 1, % 26.7% EBIT margin 23.9% 24.7% 26.3% 26.7% EBIT margin adjusted* 24.7% 24.7% Profit before tax 1,672 1, Net income 1,224 1, Net income adjusted* 1,272 1, p 58.8p EPS, basic, as reported 168.3p 159.5p 63.9p 58.4p EPS, adjusted and diluted* 172.9p 157.6p * Adjusted to exclude the impact of exceptional items. Group balance sheet data 31 December m m Net working capital * (941) (914) Net debt 2,172 2,011 * Net working capital is defined as inventories, short-term receivables and short-term liabilities, excluding borrowings and provisions. Shares in issue Nine months Millions 31 December Issued March Issued June Issued

9 Group Income Statement Analysis (Unaudited) Quarter ended Nine months ended % change % change m m m m 2,448 2, Net revenue 7,069 6, (987) (828) Cost of sales (2,869) (2,455) 1,461 1, Gross profit 4,200 3, (823) (720) Net operating expenses (2,513) (2,193) Operating profit 1,687 1, Operating profit before exceptional items 1,748 1, (7) - Exceptional items (61) - (7) - - Exceptional restructuring charge (59) Transaction costs in respect of (2) - acquisitions Operating profit 1,687 1, (4) 4 Net financial (expense) / income * (15) Profit on ordinary activities before 1,672 1, taxation (168) (142) Tax on profit on ordinary activities (442) (385) Net income for the period 1,230 1, Attributable to non-controlling interests Attributable to ordinary equity shareholders 1,224 1, of the parent Net income 1,230 1, Earnings per ordinary share: 63.8p 58.8p On net income for the period, basic 168.3p 159.5p 63.2p 58.4p On net income for the period, diluted 166.3p 157.6p Earnings per ordinary share adjusted** 64.5p 58.8p On net income for the period, basic 174.9p 159.5p 63.9p 58.4p On net income for the period, diluted 172.9p 157.6p * YTD 2011 includes an exceptional charge of 3m in respect of financial costs associated with the acquisition of SSL (Q3 2011: 1m). There were no exceptional charges in YTD 2010 (Q3 2010: nil). ** Adjusted to exclude the impact of exceptional items. Average common shares outstanding: (millions) Basic Diluted

10 Segment Information (Unaudited) Analyses by operating segment of net revenue and adjusted operating profit, and of net revenue by product group are set out below. The Executive Committee of the Group assesses the performance of the operating segments based on net revenue and adjusted operating profit. This measurement basis excludes the effect of exceptional items. Operating segment Quarter ended Nine months ended % change % change m m exch. rates m m exch. rates actual const. actual const. Net revenue 1, Europe 3,060 2, North America & Australia 1,712 1, Developing Markets 1,728 1, Pharmaceuticals ,448 2, ,069 6, Operating profit adjusted* Europe North America & Australia Developing Markets Pharmaceuticals Sub-total before exceptional items 1,748 1, (7) - Exceptional items (61) ,687 1, % % Operating margin adjusted* % % Europe North America & Australia Developing Markets Pharmaceuticals * Adjusted to exclude the impact of exceptional items. 10

11 Segment Information (Unaudited), continued Product segment Quarter ended Nine months ended % change % change m m exch. rates m m exch. rates actual const. actual const. Net revenue by category Health & Personal Care 2,365 1, Fabric Care 1,146 1, Surface Care 1,069 1, Home Care Dishwashing n/m n/m Other n/m n/m 2,168 1, Household and Health & Personal Care 6,280 5, Pharmaceuticals Food ,448 2, ,069 6, Net revenue of 548m in YTD 2011 in respect of the SSL business is included within Health & Personal Care (Q3 2011: 183m). On a LFL basis, net revenue growth in Health & Personal Care is +8% for YTD 2011 and +6% for Q Net revenue of 104m in YTD 2011 in respect of the SSL business is included within Other (Q3 2011: 44m). Operating profit adjusted* Household and Health & Personal Care 1,314 1, Pharmaceuticals Food ,748 1, (7) - Exceptional items (61) ,687 1, % % Operating margin adjusted* % % Household and Health & Personal Care Pharmaceuticals Food * Adjusted to exclude the impact of exceptional items. 11

12 For further information, please contact: Reckitt Benckiser +44 (0) Richard Joyce Director, Investor Relations Tom Corran Consultant, Investor Relations Andraea Dawson-Shepherd SVP, Global Corporate Communication and Affairs Brunswick (Financial PR) David Litterick / Teresa Bianchi +44 (0) Notice to shareholders Cautionary note concerning forward-looking statements This document contains statements with respect to the financial condition, results of operations and business of Reckitt Benckiser and certain of the plans and objectives of the Group with respect to these items. These forward-looking statements are made pursuant to the Safe Harbor provisions of the United States Private Securities Litigation Reform Act of In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability of financing to the Company, anticipated cost savings or synergies and the completion of strategic transactions are forwardlooking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors discussed in this report, that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including many factors outside Reckitt Benckiser s control. Past performance cannot be relied upon as a guide to future performance. 12