Dear Shareholders
 
 Last year in my first message to you after coming to India, had written
 that India is a dynamic, diverse and vibrant market where I would like
 to drive growth that is sustainable and inclusive. Some peope believe
 that this is challenging in India. That may possiby be true. However,
 personally believe that anyone who understands the diversity and the
 rich culture of the country can convert this challenge into en
 opportunity to Create Shared Value, for society as weII as for oar own
 business, continue to be confident that we will achieve this.
 
 Nestle is uniquely placed
 
 We have grown with India and its people. We understand the needs and
 aspirations and have conducted our business in a way that heps improve
 the quality of life of all those we touch This desire to spread
 happiness and we being a fundamental to Nestle and is also the core of
 Indias culture. During the past twenty years there is a new end
 growing aspiration in India and even though much has changed in the
 country these values have not changed
 
 The Country needs sustainable growth, and it has to be Inclusive for a
 larger population. While the Government is doing its own to ensure
 this, we believe that we are equal partners in the process. Being the
 global leader in Nutrition. Heath and Wellness which has been achieved
 with the technological strength coming from the argest globe R&D
 network in science based nutrition. Nestle can contribute signficantly
 in helping achieve the common aspiration of a Good Life.
 
 The spirit of Celebration has a special meaning in Indias culture. It
 symbolises success and happiness. We Nestle team, will continue to
 innovate and ronovate to do light consumers delivering Good Food, Good
 Life and spreading happiness by Growth, Inclusion, Leadership
 
 
 Antonio Helio Waszyk