FERRERO GROUP'S 15th SUSTAINABILITY REPORT DEMONSTRATES SOLID PROGRESS AS COMPANY ACCELERATES EFFORTS TO MEET ITS TARGETS

LUXEMBOURG,May 28,2024 -- The Ferrero Group has today announced the latest progress in its sustainability journey,with the release of its 15th Sustainability Report.

Guided by Ferrero Group's long-standing commitment to having a positive impact throughout its value chain,the report demonstrates the considerable headway across its key sustainability pillars: Protecting the Environment,Sourcing Ingredients Responsibly,Promoting Responsible Consumption and Empowering People.

"Ferrero Group recognises the critical role thatthe company plays in safeguarding nature for future generations. We reaffirmed through concrete engagements that sustainability is embedded in Ferrero's long-term strategy. All four pillars of our sustainability framework guide every strategic decision we take" said Giovanni Ferrero,Executive Chairman of the Ferrero Group.

"As Ferrero grows and diversifies its portfolio,we continue to value our long-term partnerships,in particular those dedicated to the communities where we operate and where our raw materials are sourced.We believe in the importance of partnerships to achieve progress,to move forward our sector's social and environmental agenda,and finally to create societal value."

The latest Sustainability Report,for the 2022/23 financial year,highlights Ferrero's continued focus on driving greater transparency across its core-ingredients supply chain,in line with its responsible sourcing approach. In its hazelnut supply chain,Ferrero has now achieved 90% traceability – a significant increase from the 79% reached in previous year 2021/22 – sustained by its continued work with farmers,suppliers,institutions,universities,and research centres to promote and share sustainable farming practices.

In collaboration with partners on the ground,Ferrero has also helped address complex supply chain challenges,like deforestation,across the areas from which it sources ingredients. For example,using satellite mapping to help increase traceability of cocoa back to farm level to 93% in 2022/23. As well as working extensively with cutting edge technology,Ferrero is a long-standing member of the World Cocoa Foundation (WCF) and the International Cocoa Initiative (ICI).

Collaboration has also played a key role in accelerating progress on tackling the causes behind child and forced labour. Ferrero continues to partner with Save the Children,working with 65 communities in the Haut-Sassandra Region in Ivory Coast,one of the main sourcing countries for cocoa,reaching over 18,000 people. Ferrero is also working with Earthworm Foundation and the International Labour Organisation (ILO) across its palm oil and hazelnut supply chains respectively to help support responsible labour practices.

Other highlights from the Ferrero Group's Sustainability Progress Report include:

90.7% of Ferrero packaging is now designed to be recyclable,reusable,or compostable - up from 88.5% in 2021/22.

Achieved a 20% reduction in water intensity at Ferrero plants,through reduction and reuse initiatives since base year 2017/18 (9.6% vs 2021/2022.

Kinder Joy of moving project has involved more than 60 million children since its inception in 2005 (3,4 million children in 22/23 alone).

You can read more about Ferrero's latest Sustainability Report here.

About Ferrero Group

Ferrero began its journey as a pastry shop in the small town of Alba in Piedmont,Italy,in 1946. Today,it is one of the world's largest sweet-packaged food companies,with much loved brands sold in more than 170 countries. The Ferrero Group brings joy to people around the world with much-loved products including Nutella®,Kinder®,Tic Tac®,and Ferrero Rocher®.

About 47,000 employees are passionate about helping people celebrate life's special moments. The Ferrero Group's family culture,now in its third generation,is based on dedication to quality and excellence,heritage and a commitment to the planet and communities in which we operate.

For more information,please visit www.ferrero.com