STEPS IN THE RIGHT DIRECTION - FERRERO GROUP'S PROGRESS TOWARDS ITS SUSTAINABILITY GOALS

SINGAPORE,July 14,2022 --Ferrero Group is on track to meet its ambitious sustainability goals,including a switch to renewable energy across its manufacturing plants and progress towards targets on sourcing and packaging,the global sweet-packaged food group reports today.

Progress is documented in the Group's 13thSustainability Report,which highlights the steps taken towards environmental and social targets during 2021 aligned to four key areas of focus: protecting the environment,sourcing ingredients sustainably,promoting responsible consumption and empowering people. The Sustainability Report follows the publication of the Group's first Human Rights Report,addressing work on the most salient human rights issues across the value chain.

"The pandemic created global social and economic disruption that varied from country to country. However,as a business we were able to demonstrate resilience and the solid progress of our sustainability plans has not been affected,as you will read. In addition,our business continues to expand,both through new acquisitions and through organic growth," said Giovanni Ferrero,Executive Chairman of the Ferrero Group.

Highlights from the 2021 Sustainability Progress Report include:

Ferrero is on track to meet its 2025 target of 100% of packaging being reusable,recyclable or compostable,reaching a high of 83% over the last year

The Group sets out further ambitious packaging sustainability targets,including the reduction of virgin plastic by 10% and the increase of recycled content in plastic packaging to 12% by 2025

Renewable energy sourcing is transitioning rapidly with 84% of the electricity purchased for manufacturing plants now coming from renewable sources and 16 of the firm's plants running on 100% renewable electricity

Ferrero has reached its sourcing target of 100% of cane sugar certified by Bonsucro

Ferrero also reports traceability back to farm level across more than 95% of its cocoa supply volume

The Group delivered training to over 134,000 farmers in Côte d'Ivoire and Ghana,with the aim of promoting responsible agricultural practices in key cocoa growing regions as part of Ferrero's on-the-ground engagement with partner farmers

"As you will see throughout this report,we have substantially advanced many aspects of our sustainability strategy towards the objectives we set ourselves. We increased our energy efficiency and confirmed a central capital-expenditure programme aimed at reducing our carbon footprint and achieved many improvements in our packaging portfolio,in line with our sustainability roadmap to 2025. In raw-material supply chains we published or updated our Cocoa Charter,Palm Oil Charter and Hazelnut Charter,aiming for production that creates value for all in each respective industry," said Lapo Civiletti,Chief Executive Officer of the Ferrero Group.

For further information visit: www.ferrerosustainability.com.