The Magnum Ice Cream Company - 20-F annual report 2025

2025 Annual Report on Form 20-F

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 2 Table of contents Management Report Financial Statements Further Information Management Report About us 5 At a glance 6 Our heritage 7 Our footprint 9 Regional overview 10 Leadership perspectives 13 Board Chair update 13 CEO update 14 Our strategy 15 Our people 19 Culture and values 19 Review of the year 23 Group financial review 23 Additional financial disclosures 26 Regional performance 29 Sustainability 32 Risk management 33 Approach 33 Governance 35 Principal risks 36 Viability statement 40 Corporate governance 42 Introduction 42 Board of Directors 45 Executive Leadership Team 48 Board Report 50 Nomination and Governance Committee Report 55 Audit and Risk Committee Report 5 7 Directors’ Remuneration Report 60 Other information 80

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 3 Financial Statements Reports of Independent Registered Public Accounting Firms 85 Consolidated financial statements 87 Notes to the consolidated financial statements 92 Further Information US Listing additional information 144 Definition and reconciliation of non-IFRS financial measures 159 Shareholder information 164 Cautionary statement 166 Management Report Financial Statements Further Information

Management Report Management Report About us Leadership perspectives Our strategy Our people Review of the year Risk management Corporate governance Management Report Financial Statements Further Information

Life tastes better with ice cream The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 5 About us Welcome to the world’s largest ice cream company We are the world’s largest ice cream company(1), headquartered in Amsterdam, The Netherlands and listed on Euronext Amsterdam, the London Stock Exchange and the New York Stock Exchange. Home to four of the world’s five largest ice cream brands, with a global team of 16,500 colleagues, operating 30 factories, 12 Research and Development centres and a fleet of three million freezer cabinets, we generated €7.9 billion in revenue in 2025. From Magnum and Ben & Jerry’s to Cornetto and the Heart Brand, our ice cream portfolio delights consumers in 80 markets around the world. (1) Company analysis based on Euromonitor, Snacks 2026 edition, Retail Value Sales (RSP) in euro, year-on-year exchange rates, current prices, adjusted for economic ownership of brands in each market. Management Report Management Report Financial Statements Further Information

21% 11% Global market share(2) Revenue of the top 5 ice cream brands globally Home to 4 16,500 Colleagues years of ice cream experience €1.3 billion €7.9 billion Adjusted EBITDA 3 million Iconic freezer cabinets TMICC #2 player Ice cream factories 30 The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 6 At a glance(1) (1) Facts and figures reflect Group footprint in 2025, excluding planned perimeter changes in first half of 2026 - India and Portugal. (2) Company analysis based on Euromonitor, Snacks 2026 edition, Retail Value Sales (RSP) in euro, year-on-year exchange rates, current prices, adjusted for economic ownership of brands in each market. Management Report Management Report Financial Statements Further Information

Breyers Wall’s Ben & Jerry’s William Breyer began producing ice cream in line with the ‘Breyers Purity Pledge’ in Philadelphia in 1866 promoting "pure, high-quality and natural ingredients". A true entrepreneur, Thomas Wall seized the opportunity to sell ice cream by the seaside during the warmer months of 1922. With their entrepreneurial spirit and unwavering belief that ice cream can change the world, Ben Cohen and Jerry Greenfield opened their first ice cream scoop shop in a renovated gas station in Burlington, Vermont in 1978. The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 7 With roots stretching back over a century, our story began in 1866 with the founding of Breyers - a name that set the stage for generations of ice cream artistry. Today, our portfolio is built on the rich legacy of our heritage brands that have defined moments of joy and indulgence for decades, including: Wall’s (1922), Cornetto (1959), Twister (1982), Ben & Jerry’s (1978), Magnum (1989), Talenti (acquired in 2014) and Yasso (acquired 2023). Each name carries a legacy of flavour and craftsmanship that continues to captivate hearts worldwide. Throughout the years, innovation has remained our compass, guiding not only what ice cream means but also when and how it is enjoyed. From the early introduction of Popsicle - a frozen, flavoured delight on a stick that redefined convenience - to Ben & Jerry’s pioneering pint-sized containers that drove category growth during the 1980s and 1990s. We are excited about the future of ice cream. Our heritage Management Report Management Report Financial Statements Further Information

1866 Founding of Breyers 1922 Founding of Wall’s 1923 Founding of Popsicle 1959 Founding of Cornetto 1978 Founding of Ben & Jerry’s c. 1980 Launch in Emerging Markets 1982 Launch of Twister 1989 Launch of Magnum 1990 Launch of Türkiye Algida 2014 Acquisition of Talenti 2023 Acquisition of Yasso 2024 2025 Magnum Bonbon Founding of The Magnum Ice Cream Company The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 8 160 years of experience Management Report Management Report Financial Statements Further Information

Copyright © Free Vector Maps.com United States Brazil Ecuador Portugal(1) Mexico Canada Türkiye China Philippines Thailand Indonesia South Africa Middle East Pakistan India(1) Malaysia Australia Europe The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 9 Our footprint Around the world one scoop at a time The Magnum Ice Cream Company N.V. has a global portfolio - with an end-to-end supply chain that spans six continents. 12 world class Research and Development (R&D) centres inspire 30 state-of-the-art manufacturing facilities; collectively running more than 300 precision-engineered production lines that stock 200 distribution centres and more than 2,000 dedicated distributors. As the world’s largest ice cream company, we bring indulgence to life on a global scale in 80 markets. We strive to operate a supply chain powered by global strength and delivered locally. This approach creates agility and champions local-for-local production and distribution, so every scoop feels as close to home as it does to perfection. Factory location R&D centre Europe, United Kingdom, Australia & New Zealand (Europe & ANZ) North America, Central & South America (Americas) Asia, Middle East, Africa (AMEA) (1) Planned perimeter expansion in first half of 2026 to include India and Portugal. Management Report Management Report Financial Statements Further Information

Copyright © Free Vector Maps.com Australia New Zealand Copyright © Free Vector Maps.com Australia New Zealand Revenue Market share Factories (1) Leading brands Colleagues €3.2 31% 12 7,000 billion Growth • Rebuild the European Away-from-Home channel • Grow the ice cream category through innovation and retail partnerships • Move to a digitally led demand creation model • Turnaround Italy Productivity • Supply chain transformation • Overheads • Volume growth for higher asset utilisation Re-investment • Brands and portfolio • Away-from-Home cabinet expansion • Supply chain network optimisation The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 10 Europe & ANZ is a mature ice cream region with a strong foundation built on the interplay of local brands and global icons, delivering a diverse and distinctive ice cream experience. The inclusion of Australia and New Zealand captures synergies on consumption habits. Regional overview Strategic focus Europe & ANZ Regional overview (1) Based on the Retail Sales category (excluding Foodservice) Euromonitor December 2024, adjusted in accordance with management’s internal assessment of economic ownership of brands within specific markets. Denmark Finland Germany UK France Italy Netherlands Management Report Management Report Financial Statements Further Information

Copyright © Free Vector Maps.com United States Brazil Mexico Revenue Market share Factories (1) Leading brands Colleagues €2.8 8 4,500 19% billion Growth • Double down on the fastest growing (+5%) single serve ice cream segment • Expand portfolio of calorie control and high protein offerings • Rebuild business in club, dollar store and Away-from-Home channels • Pivot towards a digitally led demand creation model • Turnaround Brazil Productivity • US end-to-end supply chain reset • Latin America direct sales distribution system revamp Re-investment • Capacity expansion • Away-from-Home cabinet expansion • Media investment The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 11 Regional overview Strategic focus Americas The Americas region holds leading positions in some of the world’s largest developed ice cream markets. Home to iconic brands such as Breyers, Popsicle and Ben & Jerry’s, it combines the scale and strength of North America with the emerging growth potential of Central and South America, creating a balanced mix of stability and opportunity. (1) Based on the Retail Sales category (excluding Foodservice) Euromonitor December 2024, adjusted in accordance with management’s internal assessment of economic ownership of brands within specific markets. Management Report Management Report Financial Statements Further Information

Copyright © Free Vector Maps.com Türkiye India(2) China Pakistan Philippines Indonesia Revenue Market share Factories (1) Leading brands Colleagues €1.9 billion 10 5,000 11% Growth • Drive distribution and penetration in low per capita consumption countries (e.g. Pakistan) • Build an attractive portfolio at core ‘snacking and refreshment’ price (coinage) points • Further premiumise the portfolio both in indulgence as well as wellness • Build ice cream occasions with our demand generation model • Accelerate share growth in China Productivity • Optimise supply chain end-to-end to improve capacity utilisation, better service and lower cost • Lead through digitalisation, automation and new technologies Re-investment • Cabinets and digitalise frontline • De-bottleneck capacity and invest in quality and safety • Build cutting-edge capabilities The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 12 Regional Strategic focus overview AMEA AMEA is the fastest growing and most profitable region, offering a sizable and continuously expanding market. Spanning from Türkiye and Africa in the West to Indonesia and China in the East, it encompasses key emerging markets that drive growth and innovation across the ice cream category. (1) Based on the Retail Sales category (excluding Foodservice) Euromonitor December 2024, adjusted in accordance with management’s internal assessment of economic ownership of brands within specific markets. (2) Subject to planned perimeter change in first half of 2026. Management Report Management Report Financial Statements Further Information

Leadership perspectives The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 13 Leadership perspectives - Board Chair update December 2025 marked a significant milestone in our history as The Magnum Ice Cream Company (TMICC) completed its demerger from Unilever and began trading as a listed company. This separation allows TMICC to operate with greater focus and agility, tailoring our operating model, capital allocation and capabilities to the specific requirements of the ice cream industry. The Board believes this focus will strengthen our competitive advantages in brand leadership, manufacturing and distribution and position the Company for sustainable profitable growth. Unlocking shareholder value The Board has established a balanced capital allocation framework designed to deliver consistent returns while funding organic growth and productivity. Our policy targets a dividend payout ratio of 40% to 60% of net income after adjusting items. We plan to maintain our credit rating at an investment grade profile, while retaining flexibility for targeted bolt-on acquisitions that strengthen the portfolio. This disciplined approach underpins our medium-term objectives of 3% to 5% average annual Organic Sales Growth, 40 to 60 basis points of Adjusted EBITDA margin expansion and €0.8 to 1.0 billion of free cash flow from 2028. Governance and stewardship Robust governance underpins trust and performance. Upholding standards of ethics and compliance supports responsible business practices and long-term value creation for shareholders, consumers, customers, employees and communities. TMICC is governed by a one-tier Board structure, bringing together global leadership, deep industry expertise and clear accountability. I thank Peter ter Kulve, Abhijit Bhattacharya, Stacey Cartwright, René Hooft Graafland, Melissa Bethell, Stefan Bomhard, Anja Mutsaers and Reginaldo Ecclissato for their Board service during this important period, and welcome Josh Frank, who joined as a Non-Executive Director in March 2026. Doing good business As a standalone company, we will in due course embed Environmental, Social and Governance (ESG) matters into our strategy and operating plans, focusing on the areas that matter most to the ice cream value chain. Priorities include the integrity and sustainability of our key sourcing ingredients, the environmental footprint of our packaging and cabinet cold chain, and the social impact we have in the communities we operate in. The Board will oversee progress against these priorities, ensuring alignment with stakeholder expectations and disciplined execution. Looking to the future The global ice cream market is forecast to grow at 3% to 4% annually(1), supported by enduring consumer demand for indulgence, convenience and innovation. As the world’s largest ice cream company, we are well positioned to compete and win. We have invested in delivering capabilities and implemented a robust productivity programme to strengthen operational efficiency. With our foundations in place and a clear strategic focus, we are confident in our ability to create sustained value for shareholders. It is an honour to write to you as Chair of TMICC. I am excited by the opportunity to help shape the future of this remarkable business with so much potential. Ice cream brings joy to millions every day, and TMICC is built to win at scale with iconic brands, a unique asset base and great people. We are grateful to Unilever for its stewardship and support through the transition, and to our shareholders for their trust in our vision. Jean-François van Boxmeer, Board Chair 18 March 2026 ‘I believe that growth and robust governance are both fundamental to building trust with our stakeholders and ensuring long-term value creation.’ Jean-François van Boxmeer Board Chair (1) Company projection based on analysis of third-party market data. Pages 6 - 31 use IFRS and non-IFRS measures (OSG, OVG, OPG, Adjusted EBITDA margin, Adjusted EBIT margin, Adjusted EBITDA, Adjusted EBIT, Free Cash Flow, Net Debt, Adjusted Effective Tax Rate and Adjusted Earnings Per Share) to explain the performance of our business. See p. 159 - 163 for definitions and reconciliations of non-IFRS measures. Management Report Management Report Financial Statements Further Information

Peter ter Kulve Chief Executive Officer (1) Organic sales growth and Adjusted EBITDA margin improvement plan does not apply to any individual year, but is an average over the medium-term. The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 14 Leadership perspectives - CEO update 2025 marked a defining year for The Magnum Ice Cream Company (TMICC). On 6 December 2025, we successfully demerged from Unilever and on 8 December 2025, TMICC began trading as an independent, publicly listed company. This enables us to focus exclusively on ice cream, with a strong team of 16,500 colleagues around the world. At a very deep level, we believe it all starts with the product - crafting amazing ice cream experiences, whether it is a super-indulgent premium Talenti pint or a five-cent water ice lolly. We are passionate and driven by making the world’s best and most loved ice cream. Almost as much fun as making and selling ice cream is unlocking the intrinsic economic value of this global business. We are establishing TMICC as a hard currency compounder, delivering growth and margin year by year, in line with our value creation algorithm. We are positioning TMICC to grow Organic Sales on average by 3% to 5% from 2026, with an average annual Adjusted EBITDA margin improvement of 40 to 60 basis points in the medium term.(1) Ice cream is an attractive market Ice Cream is an attractive market because it is consistently growing (in volume and value) ahead of core foods, driven by penetration and distribution in emerging markets and premiumisation in developed markets. Premiumisation is occurring through the move from large tubs to hand-held ice cream, more premium formats and increasingly ‘better-for-you’ options like ‘high protein’, ‘low fat’ or ‘less sugar’. Although weight loss medications are still largely an American phenomenon, we believe they actually present more opportunities than challenges. Clearly people on these medications reduce calorie intake but they do not stop treating themselves. People seem to move from big volume ‘mindless munching’ to more deliberately choosing their pleasure moments. Even the most indulgent ice cream already has a good calorie profile compared to cookies, chocolate or potato chips. Moreover, it offers a wide range of choices and portion control, from an indulgent Ben & Jerry’s Cookie Dough to low-calorie fruit water ice and more focused nutrition options like our high-protein Yasso range. There is a lot of value in the pint The value creation opportunity for TMICC is clear; historically the business was losing market share (2013-2023) and profitability was significantly behind the estimated profitability of our main global ice cream competitor and the broader snacking and refreshment market peer group. With our more premium footprint, expertise in scaling innovation, and a strong position in the faster growing channels like e-commerce and in emerging markets, we have a growth advantage. We have identified the roadmap to close the profitability gap, and this programme has been in execution for two years, delivering the expected outcomes. As a result of increased focus and our execution rigour, we have now gained market share for the last two years. Our organic growth is accelerating at 4.2% with 1.5% volume growth in 2025, in line with our long-term value creation algorithm. 2025 was a foundational year, our first full scoop It was the first year that we ran as a standalone business, with our own salesforce, supply chain, marketing and leadership team. The most important thing for a new company is to get the culture right, which is why we carefully studied the founders of our many brands - from William Breyer, Thomas Wall, Ben and Jerry to Amanda Klane and Drew Harrington who more recently founded Yasso. There are three overwhelming characteristics that we want to capture in our culture: • An obsession to create the best ice cream, because in the end it is all about the product; • A small company soul. The ice cream season is short, the weather is unpredictable, and there is a lot of competition, so we need to be agile, fast and simple, working hand in glove across functions; • Growth hunting - all our founders were obsessed with growth, new flavours, benefits, occasions and channels. We have made a good start with our culture - establishing the team, processes and ways of working. We are now building our new, best-in-class technology stack and partner ecosystem. As we redesign our workflows, we can leverage AI across functions to drive efficiencies, from targeted marketing and freezer placements to advanced weather modelling and the automation of our back-end operations through our Global Business Solutions (GBS) organisation. Looking ahead at 2026 and beyond As we enter our first full year as a listed company, our focus will be on sustaining competitive growth and margin expansion by driving innovation, expanding availability, and deepening our presence in under-represented channels and geographies. We will continue to invest in premiumisation, ‘better-for-you’ products, and new consumption occasions. Our productivity programme is now well established and has very good momentum. In the next phase, technology-enabled efficiency will be increasingly unlocked as we move out of Transitional Services Agreements and progressively activate our own technology stack. TMICC is largely an organic growth and margin improvement story, and with disciplined capital allocation, we believe we are well positioned to deliver good shareholder returns. We have the scale, brands, strategy and capabilities to win as the world’s largest ice cream company. I want to extend a huge thank you to my colleagues around the world, to Unilever and to everyone else who has been part of making this journey possible. Life tastes better with ice cream! Peter ter Kulve, Chief Executive Officer 18 March 2026 ‘My motto is scoops over spreadsheets - it keeps us agile and remain squarely focused on the consumer.’ Management Report Management Report Financial Statements Further Information

Growth Accelerating competitive growth by expanding consumption occasions, winning across the full price pyramid, and ensuring broader availability across channels. Productivity Unlocking productivity through a €500 million savings programme that resets our supply chain, reduces structural overhead, and embeds technology-enabled eciency. Re-investment Reinvesting in brands, capabilities and stronger leadership. From disruptive innovation and demand creation to best-in-class digitalised execution across channels. Technology-enabled marketing, sales & supply chain operations Focused Environmental, Social and Governance (ESG) agenda The Ice Cream Way Our ambition is to combine the strength of our brands with a business system designed specifically for ice cream, unlocking faster decision-making, sharper execution, and more disciplined capital allocation. Our value creation algorithm is clear. Over the medium term, we aim to deliver 3% to 5% average organic sales growth and expand margins by 40 to 60 basis points (bps) per year, driven by competitive growth and a step-change in productivity, with sustained reinvestment in our brands. The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 15 Our strategy Management Report Management Report Financial Statements Further Information

Our strategy - Growth The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 16 1. Accelerating competitive growth Occasion-led growth, powered by our brands We are shifting from a brand-first mindset to an occasion-led growth model designed around where, when, and why consumers choose ice cream. We are focused on innovation, activation and execution on the demand moments that matter most, spanning indulgence, refreshment, on-the-go snacking, bonding and sharing, and mindful choices. This aims to ensure that our innovations and spend are more relevant and deliver higher returns. Winning across the full price pyramid Our portfolio is designed to compete across the full price pyramid. Premium propositions drive pricing power and margin mix, while accessible formats build penetration, frequency, and scale supporting manufacturing leverage and broad consumer reach. We support this with a country-specific, occasion-based pricing strategy. Positioning our products not just within the ice cream category norms, but against the broader snacking market, ensuring our products are always competitively positioned.(1) Disciplined innovation focused on scalable platforms We are sharpening our innovation model to prioritise value per launch and scalable growth platforms rather than incremental renovations. We focus on disruptive formats that unlock new occasions and travel across markets. In 2025, examples included Cornetto Max, the Wall’s seven-layer stick, and Magnum Bonbon illustrating how format-led innovation can strengthen brand desire and broaden consumption. Looking ahead we will continue to invest in premiumisation, ‘better-for-you’ products, and new consumption occasions. Availability and execution across channels In ice cream, availability is everything. The category is impulse-driven and shaped by cold-chain access, freezer visibility, and on-shelf execution. We are therefore transforming our go-to-market model to expand distribution, reduce out-of-stocks, and raise execution standards across channels. • Dedicated ice cream salesforce: We have deployed a dedicated ice cream salesforce with clear mandates to expand distribution in underpenetrated outlets, improve availability, and create perfect stores and shelves that showcase our brands at their best. • Grocery retail: We are strengthening end-to-end Revenue Growth Management, including smarter pack-price architecture, promotion design and occasion-based assortment strategies by channel. In parallel, we are evolving trade terms and agreements to reflect the true economics of ice cream, including freezer space, replenishment, cold chain logistics and seasonality. • Away-from-Home: Our global cabinet fleet is a unique distribution advantage, a secret weapon unmatched in the industry. We are modernising our three million cabinets through improved placement systems, service discipline and selective digitisation to improve stock visibility and replenishment accuracy. Turning cabinets into a more data-enabled growth engine, without compromising route economics. • Digital commerce: E-commerce is our fastest-growing channel. We are building the infrastructure to win through stronger partnerships, optimised digital shelf execution, and precision marketing using partner data to drive conversion and repeat purchases. (1) Our customers always remain free to set their own selling prices. Management Report Management Report Financial Statements Further Information

Our strategy - Productivity The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 17 2. Unlocking productivity to fuel margin expansion and reinvestment As a standalone company, we are reshaping how TMICC operates structurally, commercially, and technologically to unlock margin expansion and reinvest for growth. Our €500 million productivity programme is designed to deliver sustainable savings over the medium term, anchored in three integrated levers: supply chain transformation, overhead reduction and technology-enabled operations. • Supply chain transformation: TMICC operates one of the most complex cold chains in consumer goods, requiring a business system designed for seasonality, energy intensity, frozen logistics, and manufacturing complexity. Our transformation focuses on portfolio and SKU simplification, procurement excellence, improved planning precision, network rebalancing, and a lean end-to-end operating model that improves speed, resilience, and cost efficiency. • Overhead reduction: We are building a leaner organisation around clearer accountability and faster decision-making. We operate through three regions with end-to-end accountability, underpinned by 23 Performance Units and supported by a lean corporate centre focused on strategy, capital and people allocation, and governance. The purpose of this standalone design is to reduce layers, raise execution quality and ensure resources are closer to the consumer and customer. • Technology-enabled productivity: We are investing in a scalable technology stack that standardises data and processes, improves real-time decision-making and enables automation. As we redesign workflows for the new Company, we are embedding advanced analytics and automation models across functions, from marketing media and freezer placement to factory automation and weather-integrated planning systems. In 2025, we designed our new technology stack and are currently building it. We plan to exit all Transitional Services Agreements with Unilever by the end of 2027. Management Report Management Report Financial Statements Further Information

Our strategy - Re-investment The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 18 Finally, our culture - ‘The Ice Cream Way’ - is designed to translate strategy into consistent execution; consumer obsession, speed and simplicity and accountability with integrity. We have refreshed leadership, clarified decision rights and built a frontline-first organisation so that teams can move faster, execute better and win market by market, season by season. The Ice Cream Way is embedded in our daily operations and performance management, with incentives fully aligned to deliver our mid-term plan. 3. Reinvesting in brands and capabilities Our strategy is designed to create a reinforcing cycle: productivity funds reinvestment; reinvestment strengthens growth; growth improves scale economics. We are therefore prioritising reinvestment behind the capabilities that most directly drive competitive advantage in ice cream: disruptive innovation, digital demand creation, and best-in-class execution across our network and sales channels. Sustainability and culture as accelerators Sustainability is embedded in our strategy where it matters most for an ice cream business: reducing cold chain energy use, improving operational efficiency, responsible sourcing and packaging choices and maintaining strong regulatory readiness. These priorities strengthen resilience, protect our licence to operate and support long-term competitiveness. Management Report Management Report Financial Statements Further Information

Ronald Schellekens Chief Human Resources Officer ‘We have laid the foundation to build a truly unique company culture - The Ice Cream Way.’ The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 19 Our people Culture and values While becoming an independent company, TMICC began a cultural transformation, codifying a new framework we call - The Ice Cream Way. It defines the values and behaviours expected of every employee and leader. These values are more than just statements of intent - they are embedded across our people systems (for example, in the way we do performance management, leadership development, employee listening and our recognition programmes), shaping behaviours and guiding decisions at every level of the organisation. Listening to our people Our culture is designed to empower every colleague to speak up, challenge ideas and contribute to an environment that fosters continuous improvement, collaboration and bold innovation. To measure our culture, we conduct a deep dive Annual People Survey in September, complemented by Pulse Surveys throughout the year - providing actionable insights into employee sentiment and their alignment with our values. Our first Annual People Survey, conducted in September 2025, illustrated strength in our employee engagement (77% positive) and confidence in our business (‘Business Outlook’ rated at 92% positive), with opportunity areas in making work simpler (‘Speed and Simplicity’ 66% positive) and creating a compelling career proposition (65% positive). We respond to feedback with transparency - acting on results and communicating changes clearly, including through line managers and, starting in 2026, in-person meetings with members of our Board. Our culture and our values are grounded in our Code of Business Integrity. In line with this commitment, colleagues can raise concerns without fear of consequence through our Speak Up platform and dedicated telephone lines - ensuring integrity and trust remain at the heart of how we work. Organisational structure: designed to empower TMICC’s structure is designed to empower decision-making and accelerate execution by organising as close to the business frontline as possible. The Group is managed operationally through three regions : Europe & ANZ, Americas and AMEA. The AMEA region is further organised into two sub regions - Middle East, Türkiye, South Asia and Africa (METSA) and Asia. Each region is led by a President with end-to-end accountability for performance. The regions are underpinned by 23 Performance Units led by a General Manager - improving speed and agility of decision-making and strengthening accountability at the frontline of our business. Above the Performance Units, lean Regional and Group (corporate) structures provide enabling systems and processes (for example, enterprise resource planning (ERP) technology stack) and oversee capital allocation. To ensure decisions serve the broader enterprise, each General Manager and President carries a Group or Regional target within their annual goals, reinforcing collaboration and safeguarding against siloed outcomes. Across TMICC, we believe that just as anyone can enjoy an ice cream, anyone can thrive and make a meaningful contribution. We believe that a range of experience, perspectives and skills drives growth by better reflecting the consumers we serve. Management Report Management Report Financial Statements Further Information

We are all about growth We are experts in the ice cream category We operate with speed and simplicity We boldly innovate to disrupt our market We win together with fun We care and challenge The Ice Cream Way The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 20 Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 21 Talent management and capability building Our talent strategy is focused on leadership development, succession and pipeline strengthening and prioritising capability building in growth areas. Leadership Development sits at the heart of our journey as an independent business. In 2025, we placed significant effort behind the development and appointment of our top leaders, around 85% of whom were new in their roles, either by internal succession or hired externally from the market. Over 100 of our senior leaders have participated in a dedicated leadership diagnostic and feedback programme anchored in The Ice Cream Way - our blueprint for leadership excellence. We completed this with a dedicated leadership series designed to equip our leaders with the skills that are essential for a newly listed company, ensuring they are ready to drive performance and shape cultural change. Capability Building is focused where it matters most - on skills unique to our category and vital for unlocking significant growth. Rather than spreading investment thinly across all functional areas, we concentrate efforts on Marketing, Sales, Supply Chain and Research and Development. The engines of innovation and growth. Areas such as net revenue management, sales and operations planning and digital marketing have received heightened attention and investment in 2025 and will continue to be prioritised in 2026. As we develop talent from within, we are also strengthening our ability to attract top talent from outside. In 2026, we will launch our Employee Value Proposition - a clear, compelling promise that defines what we expect from our people and what they can expect in return: investment, recognition and reward in a world-class environment. Performance and recognition In 2025, TMICC launched its performance management system prioritising: • Goal setting that is business-led and focused on outcomes, not process. • Empowerment of leaders to make decisions and have meaningful performance conversations. • High standards and differentiated performance. • The Ice Cream Way to be fully embedded within goals, feedback and recognition. We will maintain formal checkpoints to ensure rigour, while placing greater emphasis on the informal moments that truly elevate performance - clarity of goals, regular feedback and coaching. These touchpoints create a shared understanding amongst all colleagues regarding how their work contributes to our business objectives. Recognition is an integral part of our culture. Through Frontline Heroes, our global recognition platform, we celebrate employees at the frontline (i.e. those who make, move or sell our products to consumers) who deliver outstanding results and whose contributions and behaviours reflect our values. Recognition happens both formally and informally - leaders nominate team members for global recognition with nominations collected three to four times per year. Finalists are honoured during our March celebration - a moment that also marks the start of the northern hemisphere’s ice cream season. Beyond financial rewards, recognition extends to career development opportunities such as short-term international assignments (one to three months), specialised training and wellbeing support - affirming our commitment to growth and care for our people. Management Report Management Report Financial Statements Further Information

Xing Pu Production Line Supervisor for Cornetto in Taicang Factory, China & Global Frontline Hero 2025 Our Frontline Heroes in Amsterdam. ‘The Frontline Heroes Award recognises not only my personal work, but also the entire team at the Taicang factory. Gathering with colleagues from around the world at our new Amsterdam headquarters was unforgettable and left me deeply inspired and confident in our Company’s future. It motivates me to hold myself to even higher standards and inspire other people through my story.’ The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 22 Our reward philosophy At TMICC, our ambitious growth strategy and long-term objectives are supported by a reward philosophy designed to drive performance and create long-term value. While market practices, regulations and collective agreements vary across countries, our philosophy remains consistent everywhere: to offer fair, transparent, competitive and performance-driven rewards that recognise the impact of our people and their expertise in the ice cream category. Base pay We set base pay to be competitive and equitable, ensuring that we attract and retain the right talent. Pay levels reflect role scope, career progression and sustained contribution to business performance. Annual pay reviews help recognise growth in the role and expertise while ensuring pay is aligned with market benchmarks. As part of our commitment to fair rewards, we aim to provide at least a living wage in every market where we operate, supporting a good standard of living for all our people and their families. Bonuses and incentives Aligned with our pay-for-performance principle, around 6,000 colleagues participate in the annual discretionary bonus plan, rewarding delivery of our annual business priorities. In 2026, performance measures will include organic sales growth, Adjusted EBITDA margin improvement, free cash flow and market share gains - tailored to each participant’s area of responsibility. Frontline teams in factories and sales have dedicated incentive schemes linked to their impact. Share plans and ownership Ownership is central to our culture. Nearly 2,000 managerial colleagues participate in TMICC share plans, reinforcing a vested interest in the long-term success of our Company. Additionally, in December 2025, we announced the Celebration Award: a €300 share grant for every TMICC employee to mark the moment of our listing and give everyone a stake in our future success. Management Report Management Report Financial Statements Further Information

Abhijit Bhattacharya Chief Financial Officer ‘Gaining market share globally and executing on our productivity program enabled us to deliver solid operational performance in 2025.’ The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 23 Review of the year Group financial review Revenue In 2025, Group revenue was €7.9 billion (FY 2024: €7.9 billion). Organic sales growth for the year was 4.2%, reflecting a healthy balance of volume growth of 1.5% and price growth of 2.6%. Growth was broad based as all three regions grew market share, with growth in Europe & ANZ of 3.3%, in the Americas of 0.8%, whilst AMEA delivered a double-digit increase of 10.9%. Reported revenue growth was broadly in line with the previous year at -0.5%, as foreign exchange rate (forex) translation effects had a negative impact of -4.3% in 2025. These related mainly to the strengthening of the euro against key currencies, particularly the Turkish lira and US dollar. 2025 2024 Revenue (in € billions) 7.9 7.9 Reported revenue growth (%) (0.5) 4.3 Organic Sales Growth (OSG) (%) 4.2 2.8 Organic Volume Growth (OVG) (%) 1.5 1.1 Organic Price Growth (OPG) (%) 2.6 1.7 Operating profit (in € millions) 599 764 Adjusted EBITDA (in € millions) 1,255 1,340 Adjusted EBIT (in € millions) 917 964 Net profit (in € millions) 307 595 Operating profit margin (% revenue) 7.6 9.6 Adjusted EBITDA margin (% revenue) 15.9 16.9 Adjusted EBIT margin (% revenue) 11.6 12.1 Free Cash Flow (FCF, in € millions) 38 803 Diluted earnings per share (in €) 0.48 Adjusted earnings per share (in €) 0.93 Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 24 Biggest brands leading the way Our four leading brands - Magnum, Ben & Jerry’s, Cornetto, and The Heartbrand - continued to be powerful growth drivers for the Group in 2025. • Magnum delivered high single-digit organic sales growth driven by the global launch of Magnum Utopia across all regions and the further rollout of Magnum Bonbon in multiple markets including the Nordics, Spain and Poland. • Ben & Jerry’s delivered over 3% organic sales growth, driven by the introduction of 25 new flavour and format combinations across pints, mini cups, sharing tubs, scooping and snackable bites. • Cornetto delivered high single-digit organic sales growth, supported by the launch of the next generation MAX cone featuring a layered texture and premium ingredients in the EU and Türkiye. • The Heartbrand delivered low single-digit organic sales growth, driven by the Asian roll out of the Chinese multi-layer sticks innovation. The successful Brazilian bites formats were rolled out to Asia and the rest of Latin America. Driving growth across channels 2025 was the first year where our fully dedicated salesforce significantly improved execution, driving growth across all channels. Digital commerce remained TMICC’s fastest-growing channel, delivering double-digit growth with positive share gains. The At-Home channel grew mid single-digit, and growth was accelerated through improved service, well-executed customer growth plans and competitive pricing. In the US, growth was led by the rebuilding of our business in the value and club channels. Increasing our freezer fleet in key markets supported mid single-digit growth in the Away-from-Home channels. Operating profit, Adjusted EBITDA, Adjusted EBIT Operating profit was €599 million in 2025 (FY 2024: €764 million), mainly impacted by adjusting items related to separation and restructuring and forex translation effect. Gross Profit Margin slightly decreased from 34.9% to 34.6% driven by severe commodity inflation. Selling, General and Administrative expenses increased by 20bps mainly due to double run costs and Transitional Service Agreement (TSA) markup. Productivity savings offset inflation for the year. In 2025, Adjusted EBITDA was €1,255 million (FY 2024: €1,340 million). Adjusted EBITDA margin was 15.9% (FY 2024: 16.9%), impacted by 50bps forex translation effect and a further 50bps due to a higher cash cost resulting from the TSAs in second half of 2025. While operating under Unilever as a Business Group, the ice cream business was allocated depreciation costs of certain shared assets which did not transfer to TMICC at separation. From the second half of 2025, these depreciation costs are included in the TSA charge from Unilever, reflecting the usage of those assets by TMICC. Operationally, we saw commodity and other supply chain cost inflation of 380bps during this period, which was offset through our productivity programme and select pricing actions. On a regional basis, Europe & ANZ delivered an Adjusted EBITDA margin of 13.1%, Americas delivered 14.1%, while AMEA delivered 22.9%. Adjusted EBIT in 2025 was €917 million (FY 2024: €964 million) with Adjusted EBIT margin of 11.6% (FY 2024: 12.1%), with -50bps forex translation effect. Forex movements and TSA-related cash costs affected Adjusted EBITDA margin. But, excluding these impacts, Adjusted EBIT at constant exchange rate was up by €48 million as disciplined execution of our productivity programme, supported by select pricing actions, partially offset the impact of commodity price inflation. Effective tax rate The Adjusted Effective Tax Rate in 2025 was 26.0% (FY 2024: 21.9%). The increase versus prior year reflects the adverse impact of non-deductible interest and losses upon which no deferred tax asset has been recognised. The Effective Tax Rate for 2025 was 31.3% due to the tax impact of hyperinflation adjustments in Türkiye of 3.4% and irrecoverable VAT arising from asset transfers as a direct result of the separation of 1.5%. OSG, OVG, OPG, Adjusted EBITDA margin, Adjusted EBIT margin, Adjusted EBITDA, Adjusted EBIT, Free Cash Flow, Net Debt, Adjusted Effective Tax Rate and Adjusted Earnings Per Share are non-IFRS measures (see page 226 to 230 for definitions and reconciliations). Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 25 The Demerger-related cash outflows comprised: • acquisition and disposal-related outflows of €238 million; • separation-related outflows of €146 million resulting mainly from indirect taxes paid on asset transfers and brought forward tax payments and commodity hedge settlements; and • outflows due to the implementation of the interim operating model of €180 million. Under the interim operating model, Unilever continues to hold inventory on the Group’s behalf in most markets. At Separation (refer to Note 21), TMICC paid a €905 million inventory subsidy to Unilever, recognised as a prepayment in trade receivables. This subsidy is fixed and will be paid back to TMICC when inventory is purchased from Unilever at the end of the Transitional Period (refer to Note 21). TMICC also recognises an accrual representing the value of inventory held by Unilever in those markets. Because the inventory subsidy is based on historic annual average inventory levels, while the accrual reflects the actual level of inventory at reporting date, these two balances do not fully offset. At 31 December 2025, the net cash impact of these two balances was approximately €90 million outflow. The remaining approximately €90 million outflow reflects a combination of carve-out allocations and changes in the timing of invoices and payment terms under the interim operating model. From 1 July 2025, the Group incurred €143 million of additional cash costs on interest and the operation of the TSA. Interest on loans from Unilever and external debt increased interest payments by €105 million versus 2024, when interest was incurred only in entities that operated as a standalone ice cream entity. In addition, depreciation previously allocated by Unilever was replaced by TSA cash charges, increasing cash outflows by €38 million. The remaining €58 million year-on-year movement reflected increased capital expenditure (Capex) driven by capacity and cabinet fleet expansion (€31 million) and forex translation impacts (€27 million). 2026 Outlook Looking ahead, the external environment remains uncertain. The ice cream market is resilient and has good momentum and is anticipated to grow between 3% and 4% in 2026. We expect organic sales growth for 2026 to be between 3% and 5% and expect an Adjusted EBITDA margin improvement of 40 to 60bps, on a comparable perimeter basis with 2025. The reported improvement in Adjusted EBITDA margin is expected to be 0 to 20bps, primarily due to the impact of the anticipated acquisition of the India business in the first half of 2026. We expect the improvements in the year to be weighted more in the second half of 2026 due to the phasing of TSAs and commodity prices. Finance costs Net finance costs totalled €121 million (2024: €17 million). Finance costs were €139 million, including €117 million of interest expense of which a significant part relates to loans with Unilever to fund the separation and bond interest. In 2024, finance costs did not include any allocation of interest incurred by Unilever or interest-bearing fundings. Net monetary loss The net monetary loss arising from hyperinflation adjustments for Türkiye is €31 million (2024: nil). The increase in 2025 versus the prior year is due to the higher net monetary asset position, driven by indirect tax receivables recognised on asset transfers. Net profit Net profit in 2025 was €307 million, (FY 2024: €595 million). The decrease compared to the prior year was driven by a net increase of €118 million in higher separation and restructuring costs, higher net finance costs (€104 million), higher net monetary loss from hyperinflation in Türkiye (€31 million) and forex impact on operating profit, slightly offset by a lower tax charge. Earnings per Share (EPS) Prior to 6 December 2025, the Group was under the control of Unilever and did not have any issued shares. Accordingly, EPS has not been calculated for prior years. The current year EPS is based on the total shares issued as at 31 December 2025. Free Cash Flow Free Cash Flow for 2025 was €38 million, compared to €803 million in 2024. This was primarily due to the significant cash outflows related to the Demerger (€564 million), interest costs on new loans (€105 million) and an impact on the depreciation charge due to TSAs with Unilever (€38 million). Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 26 Balance sheet In millions of € 2025 2024 Goodwill and Intangible assets 1,241 1,378 Property, plant and equipment 2,306 2,355 Other non-current assets 784 159 Current assets 3,157 1,629 Total assets 7,488 5,521 Non-current liabilities 3,748 691 Current liabilities 3,107 2,029 Total liabilities 6,855 2,720 Shareholders' equity 625 2,778 Non-controlling interest 8 23 Total equity 633 2,801 Total liabilities and equity 7,488 5,521 Non-current assets and liabilities The pension position moved from a net liability of €98 million in 2024 to a net asset of €2 million in 2025. During the year, pension assets for funded schemes increased from nil to €78 million and pension liabilities for funded and unfunded schemes decreased from €98 million to €76 million. This €100 million improvement was driven primarily by German funded pension plans moving from a net liability of €5 million to a net asset of €77 million, reflecting higher discount rates, which reduced liabilities and increased asset returns. The net deferred tax position moved from a net deferred tax liability of €168 million in 2024 to a €314 million net deferred tax asset in 2025. The increase of €482 million was mainly driven by the Separation where a net deferred tax asset was recognised from the transfers of assets and liabilities and is subject to the completion of the purchase price allocation exercise in certain jurisdictions, which will take place in 2026. Additional financial disclosures Cash flow In millions of € 31 Dec 2025 31 Dec 2024 Free cash flow 38 803 Net cash flow (used in)/from investing activities (315) (359) Net cash flow (used in)/from financing activities 205 (737) Net cash flow used in investing activities was lower than in the prior year, which included the payment of €61 million deferred consideration relating to the acquisition of Yasso. Net cash flow from financing activities was €205 million in 2025, primarily reflecting net proceeds from the debut bond issuance and drawdown under the term loan facility (€3,076 million) offset by the net repayments to Unilever (€2,595 million) and interest paid (€130 million). In 2024 net cash flow used in financing activities primarily represented the transactions with Unilever Group companies and cash pooling activities between Unilever and the Group. These transactions reflected the fact that the Group did not retain cash generated from operating activities, and represented the cash outflow associated with repatriating such cash to Unilever, net of any movements in working capital, financing and investing activities. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 27 Provisions decreased by €63 million mainly driven by the release of restructuring provisions due to higher than anticipated employee redeployment within the new organisation; and the derecognition of certain provisions previously allocated to TMICC, which were retained by Unilever as the legal liability did not transfer. Net debt Net debt was €2,967 million (2024: €263 million). The increase consists primarily of €2,977 million raised following the bond issuance in November 2025, which financed the settlement of the Unilever payable arising from the asset transfers upon Separation. A €100 million drawdown from the term loan facility was offset by a €373 million increase in cash and cash equivalents. In 2024, cash and cash equivalents only included the balance from ice cream-dedicated entities. In 2025, we received investment-grade ratings from both S&P (BBB) and Moody’s (Baa2). The Net Debt/Adjusted EBITDA ratio achieved 2.4, which is in line with the multi-year financial framework. Other non-current assets increased to €186 million (2024: €29 million), primarily reflecting the non-current portion of indirect taxes paid to the local authorities as the result of the transfer of assets and liabilities under the Separation, amounting to €120 million. A sizeable portion of these indirect tax payments was funded by Unilever prior to the Demerger. The amount owed to Unilever will be repaid as and when it is recovered from the local tax authorities; accordingly, a corresponding liability was recognised in payables. Other non-current assets also include a €54 million prepayment to Unilever related to the deferred transfer of the Mexico sourcing unit assets. Current assets and liabilities Trade receivables and trade payables increased year on year, primarily reflecting the Transitional Period working capital arrangements following the Demerger: • Upon the Demerger, in many territories, legal title to inventory has not passed from Unilever to the Group. Accordingly, an accrual of €818 million was recognised as a payable to Unilever. This reflects the fact that, during the Transitional Period, the Group does not have legal title to all inventory and will need to acquire that inventory at the end of the Transitional Period. • During 2025, the Group made a payment (‘Inventory Subsidy’) of €905 million to Unilever. The Inventory Subsidy is a cash flow mechanism that allows Unilever to be compensated for its investment in inventory where it retains legal title. The subsidy is a one-time payment that will be repaid at the end of the Transitional Period. While the balances differ in amount and cannot be offset under IFRS due to being held with different Unilever legal entities, they are expected to be economically settled at the same time at the end of the Transitional Period. Indirect taxes paid on transfer of net assets and separation costs as well as changes to the operating model also resulted in higher receivables compared with the prior year. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 28 Capital allocation and funding TMICC’s strategy is based on driving organic growth, and therefore, we ensure that the financial plan has the right amount of investments. In 2025, capital expenditure grew by 11% versus prior year, reaching 4.5% of revenue. In 2025, we increased the number of cabinets in key markets. As announced during the Capital Markets Day in September 2025, we aim for a dividend payout ratio of 40% to 60%, with the 2025 dividend being paid by Unilever. Dividends related to 2026 performance will be paid by TMICC in the first half of 2027. In 2025, the Group strengthened its financing structure following the Demerger: • In August 2025, the Group entered into term loan facilities totalling €4 billion, comprising a €3 billion bridge facility, which was cancelled in November 2025, without any amounts drawn, a €700 million working capital facility, of which €100 million was drawn on 29 December 2025, and a €300 million facility for the acquisition of the Indian Ice Cream business in 2026 (to be drawn in 2026). • The Group also has access to a €1 billion multi-currency revolving credit facility, including euro and US dollar swingline facilities. No amounts were drawn. • In November 2025, the Group completed a €3 billion debut bond issuance across four tranches (2029, 2031, 2034 and 2037) under its Euro Medium Term Note programme with interest rate ranging 2.75% to 4%. Proceeds were used for general corporate purposes, including facilitating the Demerger. The offering attracted strong market interest, with the order book oversubscribed by more than seven times. Following these financings, financial liabilities increased to €3,416 million (2024: €333 million), with an average debt maturity of 7.5 years. Management Report Management Report Financial Statements Further Information

Mustafa Seckin President | Europe & ANZ ‘2025 was a landmark year for our Europe & ANZ teams, transforming our organisation while accelerating growth, improving competitiveness and continuing to innovate boldly.’ The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 29 Regional performance Europe & ANZ Financial performance FY 2025 FY 2024 Revenue (in € billions) 3.2 3.1 Reported revenue growth (%) 2.7 3.0 Organic Sales Growth (OSG) (%) 3.3 2.6 Organic Volume Growth (OVG) (%) 1.2 1.7 Organic Price Growth (OPG) % 2.1 0.9 Adjusted EBITDA margin (%) 13.1 14.6 Adjusted EBIT margin (%) 9.2 10.2 We delivered a solid performance in Europe & ANZ, posting 3.3% OSG and market share gains for the region. Growth was driven by particularly strong performance in the UK, France and Spain. Our performance in Italy was below par, and we are resetting the business with a clear plan in place. In particular, Magnum, Ben & Jerry’s and Cornetto performed strongly, delivering high single-digit growth, supported by market-making format innovations such as the pan-European launch of Magnum Bonbon. Innovation in the premium price segment continued with the successful launch of the Cornetto Max range and Magnum Disc Cones in France. Across the broader portfolio, we introduced the new Solero XL pack and launched exciting new concepts including a Minecraft stick, demonstrating the depth of the Heartbrand portfolio. Topline growth in the region was enabled by improved physical availability and on-shelf execution, with key wins including new discounter listings. The Adjusted EBIT margin in the region declined operationally by 70bps and an additional 30bps from lower royalties. Significant raw material price inflation, mainly cocoa, impacted the operational profitability in Europe and ANZ. This was mostly offset by strong productivity savings and pricing. In addition to these factors, previously allocated depreciation costs - which are charged as a cash cost from the second half of 2025 due to the Transitional Service Agreements (TSAs) - impacted the Adjusted EBITDA margin by 50bps. The supply chain productivity programme delivered efficiency gains through investments in major manufacturing facilities in Heppenheim (Germany), Gloucester (UK) and Minto (Australia). We are strengthening demand forecasting and seasonal planning in the region, using advanced weather forecasting models which are integrated into our planning systems. Management Report Management Report Financial Statements Further Information

Gerardo Rozanski President | Americas ‘Our teams across the Americas worked incredibly hard to delight customers and consumers alike and win in the marketplace. We gained share in key markets, further bolstered our fantastic brands and portfolio and continued to invest in the next phase of our growth.’ The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 30 Regional performance Americas Financial performance FY 2025 FY 2024 Revenue (in € billions) 2.8 2.9 Reported revenue growth (%) (4.5) 5.0 Organic Sales Growth (OSG) (%) 0.8 2.0 Organic Volume Growth (OVG) (%) 0.0 2.1 Organic Price Growth (OPG) % 0.8 (0.1) Adjusted EBITDA margin (%) 14.1 14.7 Adjusted EBIT margin (%) 10.4 10.3 The Americas delivered 0.8% OSG, driven by 1.7% OSG in the US underpinned by volume growth, offset by weaker performance in the rest of the region, most notably Brazil and Canada. Reported revenue declined by -4.5% versus 2024 as forex translation effects had a negative impact of -5.2% on 2025 revenue growth. Momentum in North America was driven by top US brands, with Yasso maintaining double-digit OSG and Ben & Jerry’s outperforming the broader market, driving share gains in the US. Portfolio innovation continues to revitalise our US brand portfolio, with key partnerships such as Hershey and Disney. The successful relaunch of Popsicle - rebuilding the ‘yellow door’ - delivered mid single-digit OSG. Our focus on market-making format innovation continued, with the launch of the Breyers S’mores range across tubs, sticks and sandwiches as well as the introduction of Ben & Jerry’s Scoop-apalooza, a party-sized format. Growth was further bolstered by expanded physical availability across the value, club and digital commerce channels as well as in Away-from-Home in Latin America, where we increased cabinet fleet investments after years of decline. The Adjusted EBIT margin in the region improved by 10 basis points (bps) as the productivity programme more than offset the inflationary impact of raw material prices. In addition, previously allocated non-cash depreciation costs - which are charged as a cash cost from second half of 2025 due to TSAs - impacted the Adjusted EBITDA margin by 60bps. The US end-to-end supply chain reset increased the competitiveness for our brands across the US. Investments in debottlenecking our production lines enabled us to unlock capacity to drive volume growth. Yasso transitioned to in-house production, lowering costs and providing improved service levels. Across the portfolio, efficiencies and cost savings were realised in the supply chain through factory modernisation, distribution optimisation and our comprehensive procurement overhaul. Management Report Management Report Financial Statements Further Information

Toloy Tanridagli President | METSA Wai-Fung Loh President | Asia ‘AMEA’s emerging markets are powering our growth. With resilient operations and rapid innovation, we’re using technology to boost efficiency and bring new ice cream experiences to our consumers.’ The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 31 Regional performance AMEA Financial performance FY 2025 FY 2024 Revenue (in € billions) 2.0 2.0 Reported revenue growth (%) 0.5 5.5 Organic Sales Growth (OSG) (%) 10.9 4.7 Organic Volume Growth (OVG) (%) 4.5 (1.6) Organic Price Growth (OPG) % 6.1 6.4 Adjusted EBITDA margin (%) 22.9 23.6 Adjusted EBIT margin (%) 17.2 18.0 AMEA continued to drive significant growth for the Group, delivering 10.9% OSG. Türkiye and Pakistan continued to perform strongly, delivering double-digit OSG, with a step-up in performance in China, and Indonesia delivering high single-digit growth. Our turnaround plans in Thailand are starting to show results, as we gained market share in 2025. Performance in the Philippines was impacted by unusually severe weather. Reported revenue increased by 0.5% versus 2024 as forex translation effects had a negative impact of -9.3% on 2025 revenue growth. Strong performance was delivered by a dual focus on growing consumer demand occasions and operational rigour by increasing market penetration through leveraging festive activations and joint business plans with retail partners to increase product availability and consumer reach. Growth was supported across the region by premium innovations across our leading brands, including the successful launch of Magnum cones and Cornetto and Wall’s multi-layer sticks. Market-specific innovations also contributed to strong growth: • Türkiye: successful launch of Magnum Dubai, Volcano, Plombir and Carte d’Or Chunkies • Pakistan: focused on category relevance via seasonal packs (Chaunsa Mango) and accessible snacking formats (Cornetto Popcone) The Adjusted EBIT margin in the region declined by 80bps. Rigorous cost management, selective pricing actions, and disciplined execution of the productivity programme, partially offset significant external head-winds from material cost inflation and hyperinflation in Türkiye. Adjusted EBITDA margin declined by 70bps. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 32 Sustainability 2025: A foundational year for TMICC This year marked TMICC’s successful separation from Unilever and its debut as an independent, publicly listed company. The transition lays the groundwork for embedding sustainability across our operations, governance and value chain. Building the framework We illustrated the structure of our sustainability journey in our first Capital Markets Day and integrated sustainability disclosures into our Prospectus for listings on the Amsterdam, London and New York stock exchanges. In accordance with the European Sustainability Reporting Standards (the ESRS), as issued by Delegated Regulation (EU) 2023/2772 on 31 July 2023, which requires that that we report on sustainability matters in which we have, or could have, material impacts, risks and opportunities (IROs) that arise from our own operations or through actors in our value chain, we have conducted a double materiality assessment (DMA). Our DMA identified 24 IROs spanning environmental, social and governance topics. While no financial effects were noted for 2025, these IROs will guide future disclosures and actions. Policies and governance Our Code of Business Integrity (the Code) applies to all our colleagues and guides us on the way we conduct our business everywhere. Respect, Fairness, Honesty, Care, Innovation and Collaboration are essential principles within it. All policies and procedures derive from our Code, including respect for human rights. Post Demerger, TMICC began transitioning to its own policies, including a Responsible Partner Policy, Environmental Policy and Company Purchasing Policy. Highlights Our strategy is anchored by a 2050 Net Zero ambition, responsible sourcing, supply chain resilience, and packaging innovation. Key 2025 achievements and activities include: • Most new and replacement cabinets, entering the European markets in 2026, are upgraded to Energy Efficiency Class C. • Continued sustainable sourcing of our key commodities: cocoa, vanilla, dairy, and palm oil. • Continued progress on our value chain community programmes, including our Vanilla for Change programme in Madagascar, the Child Labour Monitoring and Remediation System (CLMRS) and the advancement of women’s empowerment initiatives in the Ivory Coast. Looking ahead 2025 was a year of foundation building. In 2026, we will start the process of setting formal sustainability targets aligned with industry standards, deepening our value chain programmes and accelerating our cabinet strategy. Our focus remains on driving impact where it matters most - responsible sourcing, supply chain resilience and packaging innovation - while ensuring sustainability creates value for our brands and business. This will include implementing our sustainable governance structure and embedding sustainability priorities into senior management objectives. Management Report Management Report Financial Statements Further Information

Strategic Risk Operational Risk Compliance Risk Financial Risk Risk Response Key Business Goals Monitoring & Reporting Risk Identification Risk Assessment The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 33 Risk management Approach We view risk management as an integral part of our strategic vision - essential for sustainable growth, resilience and long-term success. By embedding proactive risk management practices into our strategy and daily operations, we not only safeguard the Company’s objectives and strengthen organisational agility but also create a meaningful impact on the environment and society. This approach lays the foundation for sustainable performance and enduring value creation. Our Responsible Risk Management Code Policy mandates that all managers and employees embed risk management into their daily operations and decision-making. Complementing this, we formally manage risk through the Enterprise Risk Management (ERM) process - a strategic, compliance-driven framework that integrates risk oversight into business processes and corporate governance. Our ERM framework is aligned with industry best practices and inspired by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework. This operates as a structured cycle that identifies and assesses risks aligned with business priorities, defines appropriate responses, monitors progress and reports outcomes to management and the Board. This cycle is embedded in strategic planning, business reviews and reporting processes, ensuring that risk considerations are integrated into all critical decisions. Management Report Management Report Financial Statements Further Information

Strategic Risks Risks that could materially affect TMICC’s long-term market position, growth ambitions and ability to deliver its strategy. These arise from external market forces, competitive dynamics, evolving consumer trends and strategic execution challenges. See pages 36-37 for more information. Operational Risks Risks arising from day-to-day processes, systems, technology, supply chain and organisational capability. These may disrupt business continuity, impact product availability or increase operating costs. See pages 38-39 for more information. Compliance Risks Risks related to failures to comply with legal, regulatory, ethical or contractual requirements across the markets where TMICC operates. These may result in fines, legal action or reputational harm. See page 38 for more information. Financial Risks Risks that affect TMICC’s liquidity, solvency, cash flow, profitability, access to funding or financial resilience. These may arise from macroeconomic conditions, cost volatility or financial market exposure as described in Notes 15A, 15B and 16B of the Financial Statements. See page 37 for more information. The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 34 Risks are assessed against their potential impact on TMICC’s strategy, operations, financial position and compliance obligations. We classify principal risks into four categories: Strategic, Operational, Compliance, and Financial - to support clear governance, focused mitigation planning and effective Board oversight. Management Report Management Report Financial Statements Further Information

Three lines model First line of defense - Risk Owners Risk owners manage risks in their day-to-day operations, with support from the Executive Leadership Team, which ensures risk management is embedded in decision-making and culture. Second line of defense - Group Risk and Internal Controls The second line provides oversight, frameworks, methodologies, and challenges to ensure risks - including emerging risks - are identified, assessed, monitored, and escalated when required. Third line of defense - Internal Audit Internal Audit provides independent assurance that key risks are understood and effectively managed in the Company The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 35 Governance The Board maintains the Enterprise Risk Management (ERM) framework and oversees a robust system of internal controls over financial reporting, supported by the three lines model. This framework enables periodic control reviews through self-assessments at both Group and regional levels, ensuring that financial risks are identified, evaluated, and mitigated effectively across the organisation. • The Audit and Risk Committee ensures the effectiveness of the ERM framework and advises the Board on risk appetite, as well as emerging and principal risks. It reviews risk assessment outcomes and provides guidance on managing and mitigating those risks. • The Audit and Risk Committee delegates day-to-day operation of the ERM framework to the Chief Financial Officer (CFO), who leads the Risk Management with support from the Group Controller and the Group Risk and Internal Controls department. • The Chief Financial Officer, Chief Legal Officer, and Chief Supply Chain Officer jointly form the Risk Management Group (RMG), which sets the tone for risk governance and provides oversight of key risks. The RMG enables the Group Controller and the Group Risk and Internal Controls department to run the ERM programme and coordinates risk-related activities across the business. Risk appetite TMICC’s risk appetite defines the level and type of risk the organisation is prepared to accept in pursuit of its strategic objectives - protecting our brands, ensuring compliance, and supporting sustainable growth. These principles are documented, communicated across the organisation, and reviewed annually to ensure they remain relevant, forming the basis for risk responses that are guided by the Board-approved risk appetite framework and aligned with TMICC’s strategic priorities and corporate values. The Company accepts calculated risks that enable growth, but maintains zero tolerance for breaches relating to: • Product safety • Employee health and safety • Regulatory compliance • The Code of Business Integrity In practice, the risk appetite framework translates into clear decision-making guidance: • Zero tolerance risks must be strictly avoided or mitigated. • Risks within defined thresholds - such as those associated with innovation, market expansion, or financial volatility - may be deliberately accepted to support growth, competitiveness, and long-term value creation. Risk management and double materiality assessment Following our recent double materiality assessment (in line with the Corporate Sustainability Reporting Directive), we have expanded our focus to prioritise not only financial impacts from business risks but also those arising from Environment, Social and Governance (ESG) factors. This integrated approach strengthens enterprise risk management and ensures the implementation of mitigation measures for TMICC’ s key business risks, as identified by the Board and monitored by the Audit and Risk Committee through regular updates and reviews. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 36 Principal risks Establishment as a Standalone Company Strategic Risk Becoming a fully independent entity involves structural, operational, and compliance challenges. These include stabilising the operating model, managing transitional service agreements, setting up new IT systems and capability centres, navigating complex regulatory requirements and maintaining financial discipline under heightened market scrutiny. Delays in establishing new systems and capabilities could increase costs, while disruptions during implementation may compromise business operations and lead to financial losses. In addition, TMICC’s transition to full SOX 404(a) and (b) compliance in 2026 represents a step-change from 2025, significantly increasing the level of Internal Controls over Financial Reporting (ICFR) rigor and external audit scrutiny. Failure to meet regulatory obligations may result in legal penalties, reputational damage and loss of investor confidence. Evolving Consumer Preference Strategic Risk Adapting to evolving consumer trends is critical to sustain growth. Today’s ice cream lovers increasingly seek variety and innovation. Snacking and indulgence preferences are further shaped by geographic diversity, new occasions and the growing influence of health and wellness trends such as dairy-free, low-sugar and functional products. Failure to anticipate emerging trends and innovate relevant products could erode our competitiveness and hinder our ability to grow sales and market share. Customer and Channel Adaptation Strategic Risk We operate in a fast-changing retail environment where strong relationships with our customers and adaptability to diverse channels are critical for success. Trade consolidation, declining footfall in traditional retail and the rapid rise of digital commerce require us to continuously evolve our route-to-market strategies. Maintaining strong relationships with our retailers and buying alliances and building relationships with new customers such as e-commerce platforms is vital to securing our strategic pricing terms and ensuring product availability. If we fail to preserve these relationships, we may face the risk of reduced competitiveness, and negative impacts on our revenue and profitability. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 37 Talent Strategic Risk Our people are the foundation of our success, and attracting, developing and retaining top talent remains a strategic priority. There is a risk that our workforce may not be equipped with specialised skills required in some parts of the organisation, particularly in frontline operations and digital capabilities. Retention risk persists in a competitive labour market, driven by rising demand for specialised expertise and evolving employee expectations. The loss of key talent or senior leadership could disrupt operational continuity and slow strategic execution. Global mobility trends and shifting work preferences further amplify this risk, requiring sustained focus to maintain engagement and alignment with business priorities. Climate and Nature Strategic Risk We recognise climate resilience as a strategic imperative for sustaining business continuity and long-term growth.However, due to the inherent unpredictability of climate change, climate-related risks cannot be fully eliminated. Rising global temperatures are expected to increase the frequency and severity of extreme weather events - such as floods, hurricanes, and droughts - potentially disrupting manufacturing, cold-chain distribution, and agricultural sourcing. Government measures to address climate change, including carbon taxes, land use regulations and restrictions on greenhouse gas-intensive ingredients, may also raise production costs and reduce operational flexibility. Our business depends on healthy ecosystems, making biodiversity loss and ecosystem degradation critical concerns. Intensive agricultural practices, land conversion, and deforestation may reduce crop and dairy yields and increase commodity prices. Water scarcity in high-stress regions poses further risks to agricultural sourcing and key production processes. Economic and Political Dynamics Financial Risk We operate in a complex global environment shaped by economic volatility and geopolitical developments, where inflationary pressures, currency fluctuations and rising commodity costs as disclosed in Note 15B, together with trade restrictions, sanctions and socio-political tensions, may disrupt supply chains, impact consumer demand, and challenge cost structures. Because we operate in emerging markets, we are exposed to heightened economic and political volatility. Competitive pricing and consumer sensitivity may limit our ability to pass on cost increases, amplifying margin pressure and threatening profitability across key markets. Shifts in consumer preferences such as increased demand for locally produced brands, socio-political boycotts of multinational companies, and market access restrictions pose risks to brand perception, growth and profitability of our business. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 38 Evolving and Changing Laws & Regulations Compliance Risk Compliance with laws and regulations is fundamental to our business operations and reputation. Operating globally exposes us to complex and constantly evolving regulatory frameworks covering environmental compliance, product and ingredient safety, product claims, intellectual property, competition, health and safety, data privacy, corporate governance, anti-bribery, human rights due diligence, employment and taxes. As these frameworks evolve and new regulations emerge, the complexity and cost of compliance may increase. Failure to meet these obligations could result in enforcement actions, litigation or fines - posing financial and reputational risks. Business Operations Operational Risk Our global ice cream operations and supply chain network is exposed to significant disruption risks. Force majeure incidents - including virus outbreaks and natural disasters like earthquakes, typhoons, and tornadoes - pose operational challenges beyond our control. Additionally, global disruptions such as geopolitical tensions, political instability, armed conflicts, cyber warfare, and resource shortages further increase vulnerability. These factors may impair our suppliers’ ability to source critical commodities (for example, cocoa, vanilla, dairy), disrupt our manufacturing operations and adversely impact logistics providers responsible for last-mile delivery. Consequences may include raw material shortages, increased costs, challenges to strict temperature-control required in our cold chain, fragmented logistics networks, and weather-driven demand fluctuations particularly in the Away-from-Home channel. Collectively, these disruptions could lead to production delays, reduced product availability and higher operational costs. Safe and High-Quality Products Operational Risk At TMICC, safety and product quality are not just requirements - they are promises we make to every consumer. Increasing expectations around product formulation and ingredient transparency, along with evolving laws and regulations, require careful management to maintain compliance and protect brand reputation. Accurate and transparent on-pack information continues to be essential for enabling informed consumer choices and upholding trust in our brands. Inherent risks such as accidental contamination of raw materials, product defects due to human error or equipment failure, and labelling inaccuracies may impact consumer safety and confidence. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 39 Transformation Programme Operational Risk In 2024, we launched a productivity programme targeting €500 million savings in the medium term. A key pillar of the productivity programme is Supply Chain transformation that is designed to create a lean, agile, and customer-focused network and deliver €350 to €380 million in run-rate savings. Given its global scale, transformation requires complex coordination across markets. Key risks include technology integration, regulatory compliance, construction timelines and geopolitical factors such as tariffs and trade restrictions. In addition, workforce adaptation through new structures, skill upgrades and effective change management is critical. Failure to manage these risks could result in cost overruns and operational disruption. System Resilience and Cyber Security Operational Risk We depend extensively on Information Technology (IT) and Operations Technology (OT) - whether internally owned, provided by third parties, or delivered by Unilever under a Transitional Service Agreement (TSA) - to manage critical business operations such as supply chain management, manufacturing, order processing and recording financial transactions. Ensuring these systems are secure and reliable is vital to protect data confidentiality, integrity, and availability, while maintaining uninterrupted business continuity. While we invest in building out our IT and OT environment, no system can guarantee complete immunity from cyber threats. The global risk of cyber attacks continues to grow, and as a newly established company, we may attract heightened attention from cyber criminals. This could lead to business disruptions, data breaches, unauthorised access to sensitive information, and potential violations of data protection regulations, resulting in legal claims, regulatory actions, and financial or reputational damage. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 40 Viability statement As part of the UK Corporate Governance Code, the Directors have assessed TMICC’s long-term viability by reviewing the Group’s prospects in the context of its strategy, operating model, and the principal risks that could affect future performance, solvency or liquidity. This assessment considers internal and external factors that are likely to influence TMICC’s development - including establishing and operating as a standalone company, market dynamics, economic conditions, climate-related impacts and evolving consumer preferences - together with the Group’s financial position, projected cash flows, liquidity resources and funding arrangements. The Directors have also considered TMICC’s capital management objectives, financial risk management policies and exposures to credit, liquidity and other financial risks, as set out in Notes 15A, 15B and 16B to the Financial Statements. Viability assessment For the purpose of this assessment, TMICC’s principal risks have been consolidated into four key risk categories representing the most material threats to its long-term viability. 1. Establishing and operating as a standalone Company Delays in building required systems and capabilities or external events such as force majeure could extend reliance on Transition Service Agreements (TSAs) and increase both TSA and establishment costs. Reasonable worst-case scenarios include an increase in TSA and establishment costs. Principal risks linked: Establishment as a standalone Company; Business Operations; Evolving and Changing Laws and Regulations. 2. Economic, consumer, and customer dynamics Higher costs and weakened demand resulting from economic volatility, shifting consumer preferences and evolving customer dynamics may lead to loss of consumers and erosion of market share, revenue and profitability. Macroeconomic pressures such as inflation, currency volatility, rising commodity costs and geopolitical disruption could reduce competitive pricing power, limit availability and constrain growth delivery. Principal risks linked: Evolving Consumer Preference; Customer and Channel Adaptation; Economic and Political Dynamics. 3. System resilience and cyber security Cyber-related business disruption could interrupt operations, compromise sensitive information, and lead to financial, legal and reputational harm. As a newly established company, TMICC may attract heightened attention from cyber criminals, increasing the risk of data breaches, unauthorised access, and regulatory violations, potentially resulting in loss of customer and consumer confidence, reduced turnover and additional mitigation costs. Principal risks linked: System Resilience and Cyber Security; Business Operations. 4. Climate and nature impacts Adverse climate conditions and unsustainable agricultural practices can reduce crop and dairy yields, raise commodity prices and increase production costs, thereby intensifying margin pressure. Extreme weather conditions can also limit our ability to meet consumer demand and result in lost turnover opportunities. Principal risks linked: Climate and Nature; Business Operations. Approach to assessing viability The Directors have considered TMICC’s overall funding capacity and financial headroom to withstand severe but plausible downside events. The assessment incorporated a robust review of the principal risks that could threaten TMICC’s business model, future performance, solvency or liquidity. External macroeconomic and climate-related trends, as well as evolving consumer and regulatory landscapes, were also taken into account. Principal risk are summarised in the Principal risks section on pages 36 to 39. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 41 Directors’ viability conclusion statement Based on the assessment outlined above, the Directors have a reasonable expectation that TMICC will continue to operate and meet its liabilities as they fall due over the three year assessment period. This conclusion reflects the Group’s financial resources, liquidity headroom, resilience under severe but plausible downside scenarios and the mitigating actions in place for its principal risks. Supporting rationale 1. Assessment period A three-year assessment period is considered appropriate as it aligns with TMICC’s strategic planning horizon and provides a sufficiently reliable outlook, even under severe downside conditions. This reflects TMICC’s financial resilience, strong relationships across its supply chain and customer base, cash generation profile, access to external funding and flexibility in discretionary spend (for example, marketing and capital investment). 2. Funding resilience The Directors have reviewed TMICC’s funding profile and projected liquidity over the period, taking into account the liquidity risk highlighted in Note 15A. The downside scenarios modelled did not indicate material liquidity concerns, supported by an appropriate mix of short and long-term financing and access to committed facilities. 3. Severe downside and multi-risk scenarios The assessment incorporated severe but plausible scenarios for each principal risk, along with combined multi-risk scenarios. While it is unlikely that all risks materialise simultaneously, none of the individual or aggregated scenarios were severe enough to cause TMICC to cease to be viable within the assessment period. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 42 Corporate Governance Introduction The corporate governance statement for The Magnum Ice Cream Company N.V. (TMICC) is presented below. The following pages outline the Corporate Governance Structure, introduce the members of our Board and highlight the Executive Leadership Team (ELT). Details on the Board’s operations and key activities throughout the year are provided. Relationships with stakeholders are also discussed, with cross-references to other sections of the Management Report. TMICC was incorporated in the Netherlands on 15 April 2025 as The Magnum Ice Cream Company B.V. in anticipation of the Demerger from Unilever PLC; it is the parent company of the TMICC Group. Since 8 December 2025, TMICC’s shares are traded through its listing on Euronext Amsterdam, the London Stock Exchange and the New York Stock Exchange. TMICC will publish financial information on a half-yearly basis and these reports can be found on our website. TMICC’s full list of subsidiaries are set out in Note 23. The Board of TMICC has implemented standards of corporate governance and disclosure policies applicable to a Dutch incorporated company, with listings in Amsterdam, London and New York. Application of the provisions of the Dutch Corporate Governance Code and the 2024 UK Corporate Governance Code (the Codes) In relation to the year ended 31 December 2025, TMICC was subject to the Codes (available from www.frc.org.uk and www.mccg.nl). The Board is pleased to confirm that TMICC applied the principles and complied with all the provisions of the Codes other than in respect of best practice provision 1.4.3 (as set out on page 82) and 4.3.3 of the Dutch Corporate Governance Code, since its listing on 8 December 2025. In line with this best practice provision, the Articles of Association provide that, if proposed by the Board, a general meeting can dismiss a Director with a majority of the votes cast representing at least one-third of the Company’s issued capital. However, deviating from this best practice provision, in all other cases, a dismissal requires a majority of at least two-thirds of the votes cast, which represents more than half of the Company’s issued capital. In addition, if a majority voted in favour but such majority does not represent the required portion of capital, then a second general meeting can be convened and the same portion of capital remains required for the vote at such meeting. The Company believes that these deviations are appropriate to safeguard the continuity of the Company and the Group in general. New York Stock Exchange (NYSE) TMICC is listed on the NYSE. As such, TMICC must comply with the requirements of US legislation, regulations enacted under US securities laws, and the Listing Standards of the NYSE that are applicable to foreign private issuers. The only significant way in which our corporate governance practices differ from those required of US domestic companies under Section 303A Corporate Governance Standards of the NYSE is that the NYSE rules require that shareholders must be given the opportunity to vote on all equity compensation plans and material revisions thereto, with certain limited exemptions. The UK Listing Rules require shareholder approval of equity compensation plans only if new or treasury shares are issued for the purpose of satisfying obligations under the plan or if the plan is a long-term incentive plan in which a Director may participate. Amendments to plans approved by shareholders generally only require approval if they are to the advantage of the plan participants. TMICC is required to submit annual and interim written affirmations of compliance with applicable NYSE corporate governance standards. Management Report Management Report Financial Statements Further Information

Board Executive Leadership Team (ELT) Disclosure Committee Audit and Risk Committee Remuneration Committee Nomination and Governance Committee The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 43 Corporate governance structure TMICC has a one-tier board structure, comprising Executive Directors and Non-Executive Directors. The Executive Directors are charged with the day-to-day management of TMICC and the business connected with it, which includes, among other things, formulating its strategies and policies, and setting and achieving its objectives. The Non-Executive Directors (NEDs) supervise and advise the Executive Directors. The Board collectively has ultimate responsibility for developing strategy, material acquisitions and divestments, material capital expenditure, the Company’s capital structure and other financing matters, oversight of policies, procedures and internal controls, and setting and monitoring the Group’s culture and promoting ethical behaviour. The Board discharges some of its responsibilities directly and others through its Committees - the Nomination and Governance Committee, the Audit and Risk Committee and the Remuneration Committee. The Company has also established a Disclosure Committee. The reports of each of the Board Committees can be found on pages 55 to 79. The Audit and Risk Committee Report includes a description of the risk management and internal control arrangements for the Group. The ELT supports the Executive Directors in their work and members of the ELT attend Board meetings by invitation. The formal powers of the Board are set out in the Articles of Association of TMICC and the Board Terms of Reference; both documents can be found on our website. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 44 Skills and experience matrix* Jean- François van Boxmeer Peter ter Kulve Abhijit Bhattacharya Stacey Cartwright Melissa Bethell Stefan Bomhard René Hooft Graafland Anja Mutsaers Reginaldo Ecclissato Business growth and leadership of large global corporations Strategy, corporate transactions and transformation International experience (including emerging markets) Financial expertise FMCG and consumer insights Technology, digital and innovation Marketing and sales channels Risk management and operational excellence (including sustainability and community) Society, politics and geopolitics Science and innovation People, culture and reward Corporate governance * As at 31 December 2025 Management Report Management Report Financial Statements Further Information

Nederland Nederland Nederland The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 45 Board of Directors * Independent NED ARC = Audit and Risk Committee NomGov = Nomination and Governance Committee RemCo = Remuneration Committee Committees NomGov (Chair) Appointed: 23 September 2025 Born in: 1961 Current Appointments • Chair, Vodafone Group Plc • NED Heineken Holding N.V. until 23 April 2026 • Member, Henkel AG & Co. KGaA Shareholders’ Committee until 27 April 2026 • Chair, European Roundtable for Industry Prior Experience • NED Mondelēz International (2020- 2024) • 36 years at Heineken N.V., including 15 years as CEO Committees None Appointed: 23 September 2025 Born in: 1964 Prior Experience • Business Group President, Ice Cream, Unilever (2024) • Chair, Unilever EAC Myanmar Company Limited (2021) • Business Group President, Home Care & Member of Unilever Leadership Executive (2019) • President, South East Asia & Australasia & Chief Digital Transformation & Growth Officer (2018) • Founded Unilever Wellness Business (Olly, LiquidIV, Nutrafol) (2018) • Various Senior management roles in Foods and Ice Cream in Unilever (1998-2018) Committees None Appointed: 23 September 2025 Born in: 1961 Current appointments: • Supervisory Board Member at Corbion N.V. • Supervisory Board Member at Aliaxis SA Prior Experience • Koninklijke Philips N.V. (1987-2023): Held multiple senior leadership roles including CFO, Member of the Board of Management • CFO Philips Lighting, CFO Philips Healthcare, and Head of Investor Relations • ST-Ericsson & ST-NXP Wireless: COO and CFO roles in Geneva, Switzerland (2008-2009) • Extensive experience in strategic transformation, corporate carve-out/spin-offs across Europe, Asia, and the US Jean-François van Boxmeer Board Chair* Peter ter Kulve Chief Executive Officer Abhijit Bhattacharya Chief Financial Officer Management Report Management Report Financial Statements Further Information

Nederland NederlandNederland Nederland The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 46 Board of Directors * Independent NED ARC = Audit and Risk Committee NomGov = Nomination and Governance Committee RemCo = Remuneration Committee Committees ARC (Chair), NomGov Appointed: 26 September 2025 Born in: 1955 Current Appointments • Member Chinko Conservation Area Board • Chair of the Board of Stichting Grachtenfestival Prior Experience • Chair Lucas Bols N.V. • Member of the Dutch Monitoring Committee Corporate Governance Code (2019-2022) • Supervisory Boards of Koninklijke Ahold Delhaize N.V., FrieslandCampina N.V. and Wolters Kluwer N.V. • CFO & Executive Board Member Heineken N.V. (13 years) Committees RemCo (Chair), ARC Appointed: 26 September 2025 Born in: 1974 Current Appointments • NED Diageo plc • NED Exor NV • NED Tesco PLC • Senior Advisor, Atairos Prior Experience • Managing Director & Head Technology, Telecom and Media at Bain Capital (18+ years) • Goldman Sachs & Co. Capital Markets • NED Samsonite, Worldpay and Atento Committees RemCo, ARC Appointed: 26 September 2025 Born in: 1967 Current Appointments • Senior Adviser Imperial Brands PLC (Former CEO) • NED Flutter Entertainment PLC Prior Experience • NED Compass Group PLC (2016-2026) • CEO Imperial Brands plc (2020-2025) • CEO Inchcape PLC (2015-2020) • President Bacardi-Martini Europe • President Coffee Europe at Mondelēz International, Inc. • Chief Commercial Officer of Cadbury plc • Chief Operating Officer of Unilever Food Solutions Europe Stacey Cartwright Senior Independent Director/Vice Chair* René Hooft Graafland Non-Executive Director* Melissa Bethell Non-Executive Director* Stefan Bomhard Non-Executive Director* Committees ARC, NomGov Appointed: 26 September 2025 Born in: 1963 Current Appointments: • Chair, Savills plc • NED AerCap Holdings N.V. • NED Gymshark and Chair of Audit and Risk Committee Prior Experience • CEO & Deputy Chair Harvey Nichols Ltd (2014 -2019) • NED of GlaxoSmithKline plc (2011-2016) • NED of Genpact (2019-2024) • Chair of Majid Al Futtaim Lifestyle LLC (2021-2025) • NED Majid Al Futtaim Entertainment (2021-2025) • SID of the English Football Association (2018-2020) • Various finance leadership roles at Granada Group PLC, Egg PLC and Burberry Management Report Management Report Financial Statements Further Information

Nederland Nederland NederlandNederland The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 47 Board of Directors Committees NomGov Appointed: 26 September 2025 Born in: 1968 Current Appointments • President One Unilever Markets • Member of Unilever Leadership Executive since 2022 • Director of Unilever FIMA and Gallo Worldwide Prior Experience • EVP Unilever Mexico & North Latin America • Chief Business Operations & Supply Chain Officer, Unilever Committees RemCo, NomGov Appointed: 26 September 2025 Born in: 1970 Current Appointments • Supervisory Board Member at Gasunie, Huisman Equipment and the Royal Concert Hall • Deputy member of the Management Board of the EU Agency for Fundamental Rights in Vienna • Lecturer in corporate law and leadership at various Dutch universities Prior Experience • Partner De Brauw Blackstone Westbroek, Corporate/M&A practice • Management Board Member and Chair of the Energy Industry Group of De Brauw Blackstone Westbroek Committees RemCo Appointed: 16 March 2026 Born in: 1978 Current Appointments • Partner Trian Fund Management L.P. • Director Janus Henderson Group plc Prior Experience • Director of Sysco Corporation (2015-2021) • Mergers & Acquisitions and Healthcare Investment Banking groups at Credit Suisse • Triarc Companies, Inc. (2003-2007) Reginaldo Ecclissato Non-Executive Director Anja Mutsaers Non-Executive Director* Josh Frank Non-Executive Director* * Independent NED ARC = Audit and Risk Committee NomGov = Nomination and Governance Committee RemCo = Remuneration Committee Management Report Management Report Financial Statements Further Information

Peter ter Kulve Chief Executive Officer 35+ years at Unilever 10 years experience in Unilever’s global Ice Cream business, significant experience in strategic transformation. Abhijit Bhattacharya Chief Financial Officer 35+ years of experience, 10 years as CFO and a member of the board of Royal Phillips N.V. Significant experience in strategic transformation including major corporate carve-outs/spin-offs. Ronald Schellekens Chief Human Resources Officer 30+ years of HR leadership experience. Prior roles include CHRO at PepsiCo and Vodafone. Mustafa Seckin President - Europe & ANZ 35+ years of leadership experience at Unilever across marketing, innovation and management 15 years of experience in ice cream. Wai-Fung Loh President - Asia 25+ years of experience at Unilever in customer development and sales. 6 years of experience in ice cream. Toloy Tanridagli President - METSA 20+ years of leadership experience in strategy roles in competitive markets, 9 years of experience in ice cream. 10 years of prior experience at Mondelēz, Gerardo Rozanski President - Americas 30+ years of leadership experience at Unilever in competitive markets. 10 years of experience in ice cream. The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 48 Executive Leadership Team The success of the business and TMICC Group’s ability to execute its business strategy will depend on the efforts of the Executive Directors, who are supported by TMICC’s Executive Leadership Team (ELT). Members of the ELT have a track record of success and a shared collective passion for the magic and joy of ice cream, the ELT is driving growth, innovation and shareholder value. Each member of the ELT brings an entrepreneurial spirit, honed through key moments in their careers during which they applied innovative, founder-like thinking to drive transformation and deliver results. A summary of their experience is set out here. Further details can be found on our website. Management Report Management Report Financial Statements Further Information

Vanessa Vilar Chief Legal Officer 20+ years of legal experience in Unilever and private practice. Ice Cream Group General Counsel before the Demerger, leading the legal establishment of TMICC. Victoria McKenzie-Gould Chief Corporate Affairs & Sustainability Officer* 20+ years of experience in communications, public affairs, ESG, and inclusion & diversity. Prior roles at Marks & Spencer PLC, Britvic and Tesco. Mark O’Brien Chief Technology Officer 25+ years of experience in strategic & technology transformation. Prior roles include SVP IT & Transformation at PepsiCo and VP Global Technology at Reckitt. Julien Barraux Chief Creative Officer 30+ years diverse experience in CPG, 8 years of experience in ice cream. Prior management roles at L’Oréal and Procter & Gamble. Sandeep Desai Chief Supply Chain Officer 20+ years of experience in supply chain management at Unilever 3 years of experience in ice cream. Tim Gunning Chief of Staff & Head of Strategy 10+ years of experience in Unilever in strategy, sales and marketing. * Appointed 1 January 2026 The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 49 Executive Leadership Team Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 50 Board Report Composition, balance, and independence of the Board* TMICC has established a one-tier Board. As at 31 December 2025, the Board comprised nine Directors: the Board Chair, two Executive Directors and six Non-Executive Directors (NEDs). In addition, a NED, Josh Frank, joined the Board on 16 March 2026. The composition of the Board is in line with the requirements of the Dutch and UK Corporate Governance Codes and ensures that no individual or small group of Directors can dominate the decision-making process. The biographies on pages 45 to 47 and the table on page 44 demonstrate a well-rounded Board with a broad range of sector experience, skills and knowledge. The Board will carry out an annual review of the performance of the Directors, in addition to a thorough review of the NEDs and their related or connected persons’ relevant relationships, in line with the best practice guidelines in the Netherlands, UK and US. The criteria chosen by the Board to assess the independence of the NEDs, include: • No additional remuneration or other benefits from any Group Company. • No material business relationships within the last three years, including shareholder, consumer, adviser and supplier relationships, with any Group Company. • No cross-directorships or significant links with other Directors through involvement in other companies or bodies. • Not more than nine years of service on the Board in normal circumstances. • Not a former employee of any Group Company within the last five years. • No close family ties with any of TMICC’s advisers, Directors or senior management. • No significant shareholdings in TMICC or any Group Company. All the NEDs are considered to have the appropriate skills, knowledge, experience and character to bring objective and constructive judgement and valuable insights to the Board’s deliberations. The Board has concluded that the majority (88%) of the NEDs were independent during the period covered by this report, except for Reginaldo Ecclissato who represents Unilever PLC which has a 19.95% shareholding in TMICC. The Board Chair was considered to be independent on appointment and is committed to ensuring that the Board continues to comprise a majority of independent NEDs. NEDs are able to allocate sufficient time to carry out their responsibilities effectively. Term of appointment and election The Directors comprising the Board have each been appointed until the annual general meeting (AGM) which will be held in 2026. TMICC’s Articles stipulates that all Directors will be subject to annual election or re-election. NEDs may not be reappointed for a term that would continue beyond the end of the AGM held nine years after the date of their first appointment has elapsed. Role of the Board Chair The Board Chair leads the Board and is responsible for its overall effectiveness in directing the TMICC Group. The Board Chair sets the Board’s agenda, ensures the Directors receive accurate, timely and clear information, promotes and facilitates constructive relationships and effective contribution of all the Executive Directors and NEDs; and promotes a culture of openness and debate. The NEDs provide constructive challenges, strategic guidance, specialist advice and hold management to account. The The Group Company Secretary, Nickesha Graham-Burrell, supports the Board to ensure that it has the policies, processes, information, time and resources it needs to function effectively and efficiently. Role of the Chief Executive Officer The Board has delegated all powers, authorities and discretions relating to the operational running of the Group to the CEO (along with the Chief Financial Officer), including the power to sub-delegate any of those powers, authorities and discretions. Further details are set out in the Board Terms of Reference, which is available on our website. * Russell Reynolds Associates (RRA), an external search firm, assisted with the recruitment of the Board Chair and NEDs. As far as the Company is aware, apart from providing executive search services, RRA has no other connection with the Company or individual Directors. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 51 Board and Committee meetings As TMICC is newly listed, six meetings were held, predominantly dedicated to both the Demerger and TMICC’s listings. The meetings were held virtually or in Amsterdam. When there is a Board meeting, the NEDs sometimes also meet without the Executive Directors present. The Board Chair - or in his absence, the Senior Independent Director (SID)/Vice-Chair - chairs such meetings. An attendance chart is not included for the Board and its Committees as TMICC’s listings only became effective on 8 December 2025. Prior to listing, all Directors attended meetings relating to the transactions; those who were not able to attend (due to short notice and the time-critical nature of such meetings) provided comments to the Board Chair in advance of relevant meetings. All Directors are expected to attend each Board meeting and each Committee meeting of which they are members, unless there are exceptional reasons preventing them from participating. Only members of the Committees are entitled to attend Committee meetings, but others may attend at the Committee Chair’s discretion. Executive Directors attend Committee meetings by invitation only. If Directors are unable to attend a Board or Committee meeting, they have the opportunity beforehand to discuss any agenda items with the Board Chair or the relevant Committee Chair. Relationship with TMICC Executive Leadership Team The Board delegates day-to-day management of TMICC to the CEO and the Chief Financial Officer (CFO). The CEO leads the Executive Leadership Team (ELT) and members of the ELT assist the CEO and CFO in executing the strategy approved by the Board. The roles of the members of the ELT are set out on pages 48 and 49. The ELT meets regularly to discuss all aspects of the business, including strategy, the allocation of resources, investment, merger and acquisition opportunities, culture, financial performance and non-financial performance. Members of the ELT may also be asked to attend Board meetings to update the Board on performance and other matters. There will be an annual Board meeting to discuss strategy with regular periodic updates provided at Board meetings. The Board has also delegated certain finance matters to both the CEO and the CFO in order to facilitate the efficient conduct of such matters. Non-Executive Director’s role The NEDs exercise objective judgement in respect of Board decisions, providing scrutiny and challenge to hold management to account. NEDs offer strategic guidance and specialist advice based on the breadth of experience and knowledge they bring to the Board. NEDs are required to have sufficient time available to discharge their responsibilities effectively and to continuously develop their knowledge of the business. The role of the NEDs incorporates the review of information in advance of Board meetings to ensure that thorough preparation for, and debate at, Board meetings is possible. NEDs have full access to senior management and take opportunities to meet them. Site visits also give NEDs the opportunity to meet members of the workforce from different levels of the organisation. Induction The NEDs induction process is ongoing, which includes briefings from advisers relating to multi-jurisdiction listings, meetings with the ELT, senior members of management, and the internal and external auditors. The topics covered include understanding key risk areas in the business and providing an understanding of the culture of the organisation. There is also an opportunity to visit TMICC’s operations in person. Board sustainability process and skills Leadership starts at Board level, with sustainability being a key strategic focus. All Directors are actively engaged in sustainability matters; each Director’s experience and skills are set out in the skills and experience matrix, which was compiled based on responses from each Director. Conflicts of interest Directors have a statutory duty to avoid actual or potential conflicts of interest. The Board ensures that effective procedures are in place to avoid conflicts of interest by Directors. Pursuant to the Board Terms of Reference, a Director must without delay, report any conflict of interest or potential conflict of interest to the Board Chair, the other Directors and the Group Company Secretary, or, in the case of any conflict of interest or potential conflict of interest of the Board Chair, to the SID/Vice-Chair, the other Directors and the Group Company Secretary. The Director in question must provide all relevant information to the Board, so that the Board can decide whether a reported (potential) conflict of interest of a Director qualifies as a conflict of interest within the meaning of the relevant laws. Dutch law provides that a Director may not take part in the decision-making process of the Board Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 52 in respect of any situation in which he or she has a conflict of interest. The Board considers that the procedures put in place to deal with conflicts of interest are operating effectively and there are no material transactions to report. The interests of all Directors were reviewed during the recruitment process and authorised (if appropriate) at the time of their appointment. Directors have a continuing duty to update the Board on any changes to their external appointments, which are also reviewed by the Board on a regular basis. External Directorships TMICC recognises that the Executive Directors acting as Directors of other companies are beneficial from a personal development perspective and, therefore, also beneficial to the Group. The number of external directorships of listed companies is generally limited to one per Executive Director to reduce the risk of excessive commitment, and prior approval is required from the Board Chair. Indemnification of Directors Unless Dutch law provides otherwise, the Directors and Officers (D&O) of the Company shall be reimbursed for various costs and expenses such as the reasonable costs of defending against claims, which are set out in the Articles of Association. There shall be no entitlement to reimbursement under certain circumstances such as failure to act characterised as wilful default, intentionally reckless or seriously culpable conduct. The Company has taken out D&O liability insurance for the benefit of the persons concerned. Board performance review The Board will formally assess its own performance and that of its Committees each year, including with respect to its composition, expertise and how effectively its members work together to achieve objectives. An externally-facilitated evaluation will be conducted at least every three years. Workforce engagement The Board believes that taking into account feedback from the workforce widens the range of its views when making business decisions. In 2025, some Directors were able to make site visits in the Netherlands, the UK and Türkiye and aim to make further annual visits to different locations. Perspectives from the workforce have been taken into consideration in decision-making. Employee survey results from 2025 were positive despite there being understandable uncertainty in some office-based teams around the separation of the Ice Cream business from Unilever. Leaders around the business take these findings into account and discuss them with their teams. The Board will evaluate the effectiveness of workforce engagement on an annual basis and feedback will also be sought from employees who take part in the workforce engagement sessions, thereby creating a feedback loop between the Board and employees. Shareholder engagement The Board values open and meaningful discussions with our shareholders on all relevant matters. The CFO has lead responsibility for shareholder engagement, with the active involvement of the CEO and supported by the Investor Relations team. Prior to the Demerger, the CEO and CFO met with a majority of our top 50 shareholders in September 2025 following our Capital Markets Day. The Board receives briefings on investor reactions to TMICC’s announcements. Private shareholders are encouraged to give feedback via shareholders@magnumicecream.com. Our shareholders are also welcome to raise any issues directly with the Board Chair or the SID/Vice Chair. The Board Chair, the Executive Directors and other Directors are also available to answer questions from shareholders at the AGM each year. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 53 General meetings One or more persons with meeting rights, alone or jointly representing at least 3% of the Company’s issued capital as required by Dutch law, may request the Board in writing to convene a general meeting. The request must clearly state the items to be discussed. If the Board fails to take the measures necessary to allow the general meeting to be held within the statutory term after the request, the requesting persons with meeting rights may, subject to applicable law, seek authorisation by a court in preliminary relief proceedings to convene a general meeting. A general meeting may resolve to amend the Articles of Association at the proposal of the Board. Pursuant to clause 27.2 of the Articles of Association, the Board may resolve that profits accrued in a financial year shall be fully or partially added to the reserves and may also resolve how losses are allocated. The allocation of any profits remaining after application of clause 27.2 shall be determined by a general meeting. The Company is required to provide a Notice of the AGM to shareholders no less than 42 calendar days before the meeting. At the AGM, the Board Chair and the CEO will give their thoughts on governance aspects of the preceding year and the Group’s strategy together with a review of the performance of the Group over the last year. Shareholders may attend and ask questions either in advance, via our website, or at the meeting. The external auditors will attend the AGM and may address the AGM on any matter that concerns them as auditors. Board activities During the year, the Board’s focus was primarily on the Demerger from Unilever and establishing a listing on Euronext Amsterdam, the London Stock Exchange and the New York Stock Exchange. The Board also received updates from the regions including the strategic priorities for 2026. The chairs of each of the Board Committees provide updates on their activities to the Board. Engagement with stakeholders The information set out below explains how the Board considers and engages with stakeholders. The table sets out the details of the stakeholder groups we have identified as critical to our future success: shareholders, consumers and customers, employees, creditors and suppliers. Throughout the Management Report, we have provided examples of how we engage with, and create value for, our stakeholders. TMICC Stakeholders How TMICC engages with stakeholders How the Board interacts on stakeholder issues Shareholders • Quarterly updates, presentations and webcasts. • Conference calls and investor roadshows. • Meetings and calls to discuss business performance, strategy, and sustainability. • Senior leaders and Board members engage directly with shareholders on a range of topics, including remuneration policy and capital allocation. • Regular updates on dividend policy and growth plans. The key engagements were our Capital Markets Day in September 2025, followed by multiple engagement with prospective investors ahead of the Demerger. Our first results announcement was released on 12 February 2026. • AGM - our first AGM will take place on 7 May 2026. • Meetings with shareholders on performance and key issues. • The Board approves all financial results announcements and dividends. • TMICC Investor Relations provides analysts’ reports and investor feedback to the Board. • The Board considers shareholder feedback in strategic decisions. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 54 TMICC Stakeholders How TMICC engages with stakeholders How the Board interacts on stakeholder issues Consumers and Customers (including retailers and distributors) • Responsible Partner Policy. • Consumer feedback surveys and regular engagement in collaboration with Unilever through the TSA period. • Collaboration with consumers on innovation, product launches, and category growth. • Digital engagement through social media and online platforms. • Joint business planning with customers. • Use of consumer and customer insights to inform product development and service improvements. The Board will receive regular updates on consumer satisfaction, market trends, and brand performance. • Direct engagement with major customers during market visits by Board members. • Consumer-related risks and opportunities are discussed as part of the Board’s strategic reviews. Employees • Annual employee engagement surveys and regular town halls. • Internal communications via newsletters, intranet, and leadership updates. • Training, development, and wellbeing programmes. • Engagement with works councils and employee representatives (where applicable) particularly, around the impact from the Demerger. • The Board reviews employee engagement survey results and monitors progress on key people metrics. • Regular updates on talent development, succession planning, and workforce wellbeing. • The Board approves remuneration and incentive policies and oversees culture and values. • Employee feedback is considered in shaping TMICC’s strategy and workplace environment. Creditors • Transparent financial reporting and regular updates to lenders. • Timely communication on financial performance, liquidity, and debt covenants. • Engagement with credit rating agencies. • Responsible management of financial obligations and capital structure. • The Board reviews and approves major financing arrangements. • Regular monitoring of liquidity, leverage, and credit ratings. • The Board ensures compliance with financial covenants and considers creditor interests in risk management and strategic planning. Suppliers • Supplier Code of Conduct and Responsible Partner Policy. • Regular supplier audits and performance reviews. • Collaboration on innovation, quality, and sustainability initiatives. • Open communication channels and fair payment practices. • Joint business planning with strategic suppliers. • Supplier-related issues and opportunities are discussed as part of the Board’s risk agenda including materiality thresholds. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 55 Nomination and Governance Committee report Committee membership and attendance The Board Chair, Jean-François van Boxmeer, chairs the Nomination and Governance Committee. Stacey Cartwright, Reginaldo Ecclissato, René Hooft Graafland and Anja Mutsaers are members of the Committee. The Group Company Secretary is secretary to the Committee. Other attendees, including the CEO, Chief Human Resources Officer and Chief Legal Officer, attend meetings when invited to do so. Role of the Committee The Committee is responsible for evaluating the balance of skills, knowledge, experience, as well as the size, structure and composition of the Board and Board Committees. It is also responsible for periodically reviewing the Board’s structure and identifying potential candidates to be appointed as Directors or Committee members as the need may arise. The Committee also oversees succession arrangements for the Board and the Executive Leadership Team including the arrangements in place to ensure continued development of the talent pipeline. The Committee’s Terms of Reference can be found on our website. Activities of the Committee The focus of the Board was on the establishment of a newly listed Company. In addition, the Committee met in December to consider talent and succession and reviewed the Code of Business Integrity. Appointment of Directors of the Board All Directors are nominated by the Board for re-election at the AGM in 2026 on the recommendation of the Committee. In future years, the Committee will take into consideration the outcomes of the Board Chair’s discussions with each Director on individual performance and the evaluation of the Board and its Committees. Overboarding As part of the appointment process for each Director, full consideration was given to the number of external positions held to ensure that the time commitment required did not compromise the Director’s commitment to TMICC. The Board Chair will step down from two of his roles (as set out in his biography) to ensure that he is not overboarded. The Board Chair did not identify any other instances of overboarding and concluded that all individual Directors had sufficient time to commit to their appointment as a Director of TMICC. The full list of external appointments held by our Directors can be found in their biographies on pages 45 to 47. The objective of the standards TMICC’s Profile for Directors and Board Composition Standards is available on our website. The objective of the standards is to provide guidance that the composition and quality of the Board should be in keeping with the size and geographical spread of TMICC, its portfolio, culture and status as a listed Company. The Profile for Directors and Board Composition Standards will be taken into account when making appointments to the Board and its Committees and developing a succession plan. This includes assessing candidates on merit, considering their wide-ranging experience, skills, knowledge and insight, with a continuing emphasis on factors outlined in applicable regulations, guidance, and industry and government best practices. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 56 Succession planning Board The Committee will review the adequacy and effectiveness of succession planning processes in conjunction with the Board. The succession plan will be based on merit and objective criteria. Executive Leadership Team The Committee has reviewed the succession plan for the ELT. In line with the Board succession plan approach, the succession plan for the ELT is also based on merit and objective criteria. Developing an internal talent pipeline for leadership roles is critical for TMICC. The focus of the Board was on identifying potential successors who are considered able to fulfil the roles in the short term and those in the longer term. The Committee also oversees succession arrangements of the ELT including the arrangements in place to ensure continued development of the talent pipeline. Development initiatives for senior executives will be put in place. Senior managers and executives are encouraged to take on a non-executive Directorship role as part of their personal development. In compliance with the UK Listing Rules, we collect both gender and ethnic data directly from Board and ELT members annually on a self-identifying basis. This data is used for statistical reporting purposes only and provided with consent. Gender representation on the Board and ELT as at 31 December 2025 Number of Board members % of the Board Board (CEO, CFO, SID and Chair) Number of ELT members % of the ELT Men 6 67% 3 10 77% Women 3 33% 1 3 23% Other - - - - - Not specified/prefer not to say - - - - - Ethnicity representation on the Board and ELT as at 31 December 2025 Number of Board members % of the Board Board (CEO, CFO, SID and Chair) Number of ELT members % of the ELT White British or other White (incl. minority-white groups) 6 67 2 5 38 Mixed/Multiple Ethnic Groups 1 11 1 1 8 Asian/Asian British 2 22 1 3 23 Black/African/Caribbean/ Black British - - - 1 8 Other ethnic group, incl. Arab - - - 1 8 Not specified/prefer not to say - - - 2 15 The details for the Group Company Secretary are included in the tables above, as required, but they are not a member of the ELT. TMICC complies with the laws of each jurisdiction in which we operate and shall not implement any policy in any jurisdiction to the extent the policy itself or actions taken under it would, in the good-faith judgment of TMICC, violate the laws of such jurisdictions. The data in the tables has been provided in accordance with the UK Listing Rules. Committee performance review The Committee will conduct an annual evaluation of its performance. Jean-François van Boxmeer Chair of the Nomination and Governance Committee Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 57 Audit and Risk Committee report Committee membership and attendance The Committee comprises four independent NEDs and is chaired by René Hooft Graafland. The other Committee members are Melissa Bethell, Stefan Bomhard and Stacey Cartwright. The Committee met in November to consider Funding and Tax Strategy, Preparation of 2025 Annual Report and 2025 Annual Report on Form 20-F, Enterprise Risk Management Policy and Key Business Risks, Delegations of Authority, Double Materiality Assessment, Internal and External Audit matters. The Board is satisfied that the members of the Committee are competent in financial matters and have recent and relevant experience. For the purposes of the US Sarbanes-Oxley Act of 2002, Stacey Cartwright is the Committee’s financial expert. Other attendees at Committee meetings include the CFO , Chief Auditor, Group Controller, Chief Legal Officer, Group Company Secretary and the external auditors. The Committee members also met without others present and held a separate private session with the external auditors. Code of Business Integrity Executive Directors, NEDs or any TMICC employee are guided to comply with the set of policies of the Code of Business Integrity. This includes, in accordance with the US Sarbanes-Oxley Act of 2002 and the SEC requirements, the relevant provisions in relation to a code of ethics for Senior Financial Officers. No waivers have been requested or granted for this. The Code of Business Integrity is available on our website. Role of the Committee The role and responsibilities of the Committee are set out in written Terms of Reference, which have been approved by the Board and will be reviewed by the Committee periodically, considering relevant legislation and recommended good practices. The Terms of Reference are available on our website. The Committee’s responsibilities include, but are not limited to, the following matters: • informing the Board of the outcome of the audit, whereby it is explained in which manner the audit contributed to the integrity of the financial and non-financial reporting and the role of the Committee in that process; • monitoring the financial and non-financial reporting process and making proposals to ensure the integrity of that process; • monitoring the effectiveness of the compliance management system, the internal control system, the Internal Audit system and the risk management system in relation to the financial reporting of the Company; • monitoring the audit of the annual accounts; • assessing and monitoring the independence of the external auditor, with particular attention to the provision of ancillary services to the Company; and • establishing the procedure for selecting the statutory auditor or audit firm and the nomination for the engagement to perform the statutory audit. Reporting and Financial Statements The Committee reviewed, prior to publication, the full-year results and the external auditor’s report. It also reviewed the 2025 Annual Report and 2025 Annual Report on Form 20-F. These reviews incorporated the accounting policies, significant judgements and estimates underpinning the Financial Statements as disclosed within the Notes to the Consolidated financial statements on pages 87 to 142. Particular attention was paid to the following significant matters in relation to the Financial Statements: • Basis of Presentation for 2025 Financial Statements, including the predecessor accounting approach and key accounting policies. • Impact of reorganisation and Demerger steps on Financial Statements. • Significant estimates and judgements with respect to provisions, contingent liabilities, recognition of deferred tax assets, measurement of defined benefit pension obligations and measurement of discounts to customers. • Non-IFRS measures. • Goodwill impairment testing outcome. • Internal controls over financial reporting. • Regulatory updates. In addition to the matters noted above, our external auditors, as required by auditing standards, also consider the risk of management override of controls. Nothing has come to our attention to suggest any material misstatement with respect to suspected or actual fraud relating to management override of controls. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 58 All audit fees, audit-related fees and permitted services that the external auditor provides are subject to pre-approval by the Committee. The Committee pre-approved all audit and non-audit services, the external audit plan and audit fees for 2025. At the request of the Board, the Committee undertook to: • review the appropriateness of adopting the going concern basis of accounting in preparing the 2025 Annual Report and Financial Statements; • assess whether the business was viable in accordance with the requirements of the UK Corporate Governance Code. The assessment included a review of the principal and emerging risks facing TMICC, their potential impact, and how they were being managed, together with a discussion as to the appropriate period for the assessment. The Committee recommended to the Board that there is a reasonable expectation that the Group will be able to continue in operation and meet its liabilities as they fall due over the three-year period (consistent with the period of the strategic plan for TMICC) of the assessment; and • consider whether the 2025 Annual Report and Financial Statements was fair, balanced, and understandable, and whether they provided the necessary information for shareholders to assess the Group’s year-end position and performance, business model and strategy. To make this assessment, the Committee received copies of the Annual Report and Financial Statements to review during the drafting process to ensure that the key messages were aligned with the Company’s position, performance, and strategy. The Committee also reviewed the processes and controls that are the basis for their preparation. The Committee was satisfied that, taken as a whole, the 2025 Annual Report and Financial Statements are fair, balanced, and understandable. Sustainability The Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) require certain companies operating in the European Union to report on their sustainability performance. The CSRD sets out the requirements, while the ESRS provides detailed standards for reporting on a range of environmental, social, and governance matters. For the financial year ended 31 December 2025, TMICC is required to comply with the ESRS due to our listing on Euronext Amsterdam. The Committee reviewed the double materiality assessment (DMA), including the process and output, and was satisfied that it reflected TMICC’s material impacts, risks and opportunities relating to sustainability matters. The Committee also reviewed the non-financial disclosures, which encompass disclosures under the ESRS, in this Annual Report. In future years, there will be further mandatory non-financial reporting standards applicable to the Group, including further development of ESRS sector-specific standards and the expected implementation of international sustainability standards by the International Sustainability Standards Board (ISSB) into legal reporting requirements by countries in which TMICC operates (including the UK). Currently, the ISSB has issued two sustainability reporting standards. In order to comply with its obligations under the CSRD, TMICC has prepared a Sustainability Statement, which is available on TMICC”s website. The contents of the Sustainability Statement and our website are not incorporated by reference into this Annual Report on Form 20-F and any reference to the Sustainability Statement is intended to be an inactive textual reference only. Risk management and internal controls The Committee reviewed TMICC’s overall approach to risk management, risk appetite and control, and its processes, outcomes and disclosure. The assessment was undertaken through a review of: • a report detailing the risk identification and assessment process, together with any emerging risks identified by management; and • the proposed risk areas identified by the management team. The Committee reviewed the application of the requirements under Section 302 and Section 906 of the US Sarbanes-Oxley Act of 2002 with respect to internal controls over financial reporting and the requirements of the Dutch and UK Corporate Governance Codes. In fulfilling its oversight responsibilities in relation to risk management and internal controls, the Committee meets regularly with senior members of management and is satisfied with the key judgements made. Internal Audit The Committee reviewed the Internal Audit plan, which is based on a comprehensive risk assessment process, including strategic areas, financial control processes, sustainability, IT & cyber security, product safety and supply chain. The Committee ensured that the necessary resources are in place to perform the audits effectively. The majority of the audits will be conducted as hybrid (a combination of virtual and onsite audits). Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 59 The Committee also reviewed the Internal Audit Charter which defines the purpose, mandate (including the Internal Audit function’s independence, organisational position and reporting relationship) and scope of the Internal Audit function. The Committee will engage with an independent third party every five years to perform an effectiveness review of the function. Audit of the annual accounts KPMG Accountants N.V. (KPMG), TMICC’s external auditors and an independent registered public accounting firm, reported in depth to the Committee on the scope and outcome of the annual audit. Their reports included audit and accounting matters, governance and control, and accounting developments. The Committee held separate meetings with the external auditors during the year. The Committee Chair discussed the views and conclusions of KPMG regarding management’s treatment of significant transactions and areas of judgement during the year. The Committee considered these and is satisfied with the treatment in the Financial Statements. External auditors KPMG has been appointed as the Group’s auditor for the financial years 2025 and 2026. Both TMICC and KPMG have safeguards in place to avoid the possibility that the external auditors’ objectivity and independence could be compromised, such as audit partner rotation and the restriction on non-audit services that the external auditors can perform as described below. KPMG has issued a formal letter to the Committee outlining the general procedures to safeguard independence and objectivity, disclosing the relationship with the Company, and confirming their audit independence. Each year, the Committee will assess the effectiveness of the external audit process, which will include discussing feedback from the members of the Committee and stakeholders at all levels across TMICC. The Committee also reviewed the statutory audit, other audit and non-audit services provided by KPMG, and assessed compliance with TMICC’s policy governing the use of external auditors. This policy prescribes in detail the types of engagements for which the external auditor may be appointed, with all other engagements prohibited. It is aligned with Dutch, UK and US regulations and is updated in line with these regulations. Permitted engagements include: • statutory audit services, including audit of subsidiaries; • other audit services that are not required by law or regulation; and • selected non-audit services where the external auditor is best placed to perform the work, which may include: • services required by law or regulation to be performed by the audit firm; and • services where knowledge obtained during the audit is relevant to the service, such as bond issue comfort letters. The Committee acknowledges that the provision of non-audit services by the external auditor may give rise to potential conflicts of interest. The Committee, in addition to its responsibility of overseeing the external auditor on behalf of the Board, is therefore responsible for monitoring the implementation of this policy. Further details relating to audit fees are provided in Note 24. Committee performance review The Committee’s performance will be evaluated annually. René Hooft Graafland Chair of the Audit and Risk Committee Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 60 Directors’ Remuneration Report Remuneration Committee Chair’s letter On behalf of the Board and the Remuneration Committee, I am pleased to present our inaugural Directors’ Remuneration Report. This report outlines the remuneration outcomes for 2025 and describes how we will implement the proposed Directors’ Remuneration Policy in 2026. Business performance context In December 2025, TMICC successfully completed its Demerger from Unilever and began trading as an independent, publicly listed company. The Committee recognised that, alongside this milestone, the business delivered solid operational performance with broad-based Organic Sales Growth and market share improvements. While the Company faced significant headwinds from raw material inflation, notably cocoa and a stronger euro, these were mostly offset by disciplined execution of the Company’s productivity programme and select pricing actions. The Committee noted that performance was competitive against peers. Honouring legacy arrangements during transition In anticipation of the Company’s separation from Unilever, the Committee was required to navigate a complex landscape of legacy remuneration arrangements. For the majority of the 2025 financial year, the Company operated as a Business Group within Unilever. Remuneration for this period was therefore governed by pre-existing Unilever frameworks and policies. The Committee undertook a thorough review of the inherited arrangements to ensure they were honoured during the transition, recognising the importance of consistency and continuity for colleagues who contributed under the previous structure. To ensure a smooth transition following the Demerger, participants with outstanding Unilever Performance Share Plan awards (including the Executive Directors) retained such awards pro-rated up to the Demerger date, in line with the relevant Unilever plan rules. The portion that was forfeited was replaced by share awards in TMICC of equivalent value (the Replacement Performance Share Plan, or PSP, awards) vesting on the same date as the original Unilever share awards being replaced. The Committee determined that: • 2023 Replacement PSP Award: Vesting would follow the Unilever 2023-2025 PSP vesting outcome as the performance period had been substantially completed by the time of the Demerger. • 2024 Replacement PSP Award: Vesting in 2027 will be at the on-target level of performance (100% out of the 0%-200% range), as the post-separation performance period was considered too short to set meaningful long-term targets. • 2025 Replacement PSP Award: Vesting in 2028 will be determined by TMICC performance during 2026 and 2027, as most of the performance period occurs after separation. To mitigate the impact of any share price volatility following the Company’s listing, the Committee decided to grant the Replacement PSP awards in two phases: awards vesting in 2026 were granted following the Company’s listing in December 2025, whilst awards with vesting dates in 2027 and 2028 are set to be granted in March 2026. The Committee also addressed legacy retention awards that had been granted by Unilever in 2024 to individuals deemed critical to the successful separation of the Ice Cream business, including the CEO. The Committee considered it important to honour legacy commitments to ensure fairness and continuity, whilst tying remuneration outcomes to value created by TMICC. In line with these principles and the original terms of these legacy retention awards, they were converted into equivalent awards in shares of TMICC after the Demerger was completed. Legacy remuneration arrangements are presented in detail on page 74. 2025 remuneration outcomes Annual bonus The 2025 annual bonus was based on Unilever’s 2025 annual bonus framework for each of its Business Groups, which comprised three key metrics: Underlying Sales Growth (40% weighting), Underlying Operating Profit Growth (30%) and Cash Contribution (30%). After evaluating the Company’s results against the financial targets, set by Unilever before the Demerger, the formulaic outcome assessment resulted in a business performance factor of 76% of target. Taking into account the wider performance environment, the Committee decided this performance outcome accurately represented the Company’s performance for the year against the targets set and did not make any adjustments. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 61 The Committee also reviewed individual performance for all Executive Leadership Team (ELT) members, including the CEO and CFO. Guided by the Company’s strategic and business objectives, the Committee considered both business performance and individual contributions, ensuring alignment with TMICC’s performance-driven culture and the expectations set at the start of the year. Under the bonus framework, individual and strategic contributions are recognised through the strategic priorities performance multiplier applied to the financial outcome, ranging between 0% and 150% in the case of Executive Directors. The strategic priorities performance multipliers were determined based on an assessment against personal objectives and strategic priorities, leadership impact, and each executive’s contribution to the Company’s transformation, operational delivery, and cultural progress. For both the CEO and CFO, the Committee determined that a strategic priorities performance multiplier of 125% appropriately reflected their performance and impact on the Company’s progress during this pivotal year. The Committee particularly recognised the CEO and CFO’s role in leading the successful separation and listing of TMICC, establishing a standalone organisation at pace and socialising the equity story with capital markets in the run-up to the Company’s listing. The resulting total bonus factor assessed by the Committee was therefore the result of multiplying the business performance factor of 76% with the strategic priorities performance multiplier of 125%, resulting in a total bonus outcome of 95% of target for each Executive Director. The Committee also noted that, for the period up to the Demerger, the Executive Directors’ bonus had a component (weighted 25%) tied to the performance of Unilever. Based on Unilever’s assessment of performance against the established financial targets, this part of the bonus had a business performance factor of 94% of target. For the Executive Directors, this outcome was also multiplied by their strategic priorities performance multiplier of 125%. Replacement Performance Share Plan vesting outcome Before the vesting of Replacement PSP awards on 12 February 2026, the Committee undertook an assessment to establish whether potential share price volatility in the short period of time since the Company’s listing would result in participants within the ELT receiving windfall gains. The Committee was satisfied that no such windfall gains had materialised. The 2023 Replacement PSP award to the CEO therefore vested at the formulaic outcome of 135% reflecting the outcome of the original Unilever Performance Share Plan award. No 2023 replacement PSP award had been made to the CFO. A long-term approach for a newly independent company The Committee’s focus has been on establishing a long-term and sustainable remuneration framework that supports TMICC’s early growth phase, encourages responsible leadership, and reflects the expectations of a diverse international shareholder base. Our approach aims to ensure compensation packages are both fair and competitive, while maintaining a strong alignment with performance outcomes. 2026 review of existing remuneration packages The Committee dedicated considerable time to a comprehensive review of the remuneration packages for the CEO, CFO and other members of the ELT. These packages were benchmarked against two distinct peer groups (AEX listed companies and international peers in the global snacking and refreshment sector) and adjusted to reflect the new context and responsibilities associated with their roles as leaders of a publicly listed company, carrying full accountability rather than division-level oversight. Ongoing remuneration levels compared to AEX-listed companies (the primary reference point) are around the lower quartile for the CEO and around the median for the CFO. Notably, for the CEO and CFO, the primary uplift was made to variable pay, with base salaries only marginally adjusted, underscoring our commitment to ensuring that remuneration is driven by performance. Engagement with shareholders and other stakeholders as part of Directors’ Remuneration Policy preparation In preparation for the Demerger and listing, the Committee undertook a number of shareholder consultations in late 2025. The objective was to gain insights into the expectations of, and gather feedback from, our diverse potential shareholder base. To this end, we contacted Unilever’s top investors (pre-Demerger), collectively holding approximately 30% of Unilever’s issued share capital. The Committee received broad investor support and positive feedback on the proposed remuneration framework. Throughout the process, we also discussed our proposals with Unilever as our sole shareholder prior to the Demerger and incorporated its feedback into the design. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 62 Following the Company’s listing, and in anticipation of the binding shareholder votes on the Directors’ Remuneration Policy and the proposed Foundation Plan for Growth at TMICC’s first AGM, we engaged widely with shareholders and relevant governance bodies. The feedback we received during these discussions was broadly supportive of our approach and provided valuable input for further refinement of our proposals. I want to thank shareholders and governance bodies for their time and valuable inputs. Proposed policy and implementation in 2026 We are a global company with a footprint across 80 markets, headquartered in the Netherlands and listed on Euronext Amsterdam, the London Stock Exchange and the New York Stock Exchange. Our business is well positioned to win in the market and unlock significant long-term value. The Committee has designed a Remuneration Policy which is aligned with TMICC’s growth strategy and value creation potential. It reflects our international orientation whilst taking into account the remuneration practices of AEX peers; and ties most of the Executive Directors’ remuneration to the achievement of our financial and strategic objectives. The Policy includes the following component parts: Base salary The salaries for both Executive Directors were set with effect from the Company’s listing on 8 December 2025. Therefore, no base salary adjustments have been considered for 2026. 2026 annual bonus The 2026 annual bonus will be based on four performance measures reflecting key areas of our strategy, each weighted at 25%: • Organic Sales Growth • Market share gains • Adjusted EBITDA margin improvement • Free Cash Flow In selecting measures under the annual bonus plan, the Committee has balanced growth, market share, profitability and cash targets to incentivise management to deliver sustainable growth while supporting the ongoing productivity agenda. Finally, a strategic priorities performance multiplier between 0% and 150% will be applied, tracking progress on the Company’s strategic objectives. This design ensures that both financial and strategic performance will need to be achieved for the bonus opportunity to be realised. The targets and actual performance outcomes for each measure will be disclosed in the 2026 Remuneration Report. Target award levels for 2026 were set at 120% of annual base salary for the CEO and 100% for the CFO, with the overall bonus capped at 200% of the target opportunity. Performance Share Plan Both the 2025-2027 Replacement PSP awards and the 2026-2028 PSP awards will be based on two performance measures, each weighted at 50%: • Organic Sales Growth • Constant Adjusted Earnings Per Share Growth The targets and actual performance outcomes for each measure will be disclosed in the Remuneration Report following the vesting of each award. Target awards for 2026 were set at 180% of annual base salary for the CEO and 150% for the CFO. The Committee believes that the metrics selected under both the annual bonus and PSP are designed to embrace simplicity, ensure focus, reinforce the Company’s strategic priorities and drive long-term value creation. While the Committee considered the inclusion of Return on Invested Capital (ROIC) when designing the incentive framework, it concluded that the inclusion of return-based metrics (Adjusted EBITDA and Constant Adjusted EPS), together with a strong control measure in Free Cash Flow, already provides a balanced and robust assessment of performance. This approach avoids complexity while maintaining appropriate focus on profitability and cash discipline, and keeping the flexibility required for bolt-on acquisitions. The Committee has therefore decided not to introduce ROIC as a metric at this time. Foundation Plan for Growth (the “Foundation Plan”) Following our Demerger from Unilever and our listing as an independent company, we believe we have a unique opportunity to grow and create significant long-term value for all stakeholders. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 63 Once these sustainability goals have been set, they will also be embedded into the objectives of the Executive Directors and the ELT, as appropriate. Performance against the personal and strategic objectives of the ELT is one factor influencing their individual bonus outcome, as a multiplier to the business performance result. As our sustainability targets mature in the future, the Committee will consider whether applying a specific weighting on ESG targets in our annual bonus or PSP is appropriate. Outlook In the year ahead, the Committee will focus on the effective implementation of the new Remuneration Policy, continued engagement with shareholders and governance bodies, and regular evaluation of performance measures, to ensure continued alignment with the Company’s evolving strategic priorities. AGM resolutions At the 2026 Annual General Meeting, shareholders will be asked to: • Approve the Directors’ Remuneration Policy (binding vote) • Approve the Foundation Plan (binding vote) • Approve the 2025 Remuneration Report (advisory vote) The full details for the AGM will be provided in the Notice of Meeting. Concluding remarks On behalf of the Committee, I want to thank our shareholders and governance bodies for their engagement and support. I trust that you find that the following 2025 Directors’ Remuneration Report provides a clear explanation of how the Remuneration Policy was implemented during 2025, as well as a transparent outline of our plans for 2026. I look forward to presenting this Remuneration Report at our upcoming Annual General Meeting of Shareholders. Melissa Bethell Chair of the Remuneration Committee In this context, the Foundation Plan is a one-time co-investment plan, designed to incentivise the substantial formative work needed to realise the planned growth and margin trajectory for the Company as a standalone business. Under this plan, Executive Directors can make a personal investment in TMICC shares, ensuring that they are materially invested in the Company’s long-term success and aligned with long-term value creation. The Company will then make a matching award of market-priced share options, at a ratio of five options for each share acquired through the Executive Director’s personal investment. In addition to Executive Directors, over 60 senior leaders will be invited to participate in the Foundation Plan. The maximum personal investment opportunity is set at 500% of the annual base salary for the CEO and 400% of the annual base salary for the CFO. The Committee noted that both the CEO and CFO had already made material personal investments following the Company’s listing, as shown in the Remuneration Report on page 78. The matching options will only vest if our Total Shareholder Return (TSR) exceeds the median TSR of a group of snacking and refreshment peers. The Foundation Plan is therefore designed to only deliver material value to Executive Directors if they make a significant personal investment and the Company delivers both absolute share price growth and TSR outperformance. Participants are required to continue to hold their personal investment until vesting, and no shares resulting from the exercise of options can be sold by Executive Directors for a period of five years from grant, ensuring a focus on sustainable value creation. Vesting will take place as follows: • 50% will vest after three years • 50% will vest after four years The exercise window will open following vesting of each respective portion of the award and will remain open until the seventh anniversary of the grant. ESG The Committee thanks shareholders and governance bodies for their feedback on the potential inclusion of ESG measures in our incentive arrangements. A focused sustainability agenda is a key enabler of our strategy, and in 2026, it is our intent to set a holistic, relevant sustainability strategy with goals aligned to industry standards as a minimum, and being fully compliant with all applicable regulatory and reporting obligations. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 64 Membership and meetings The Committee is composed entirely of independent Non-Executive Directors. It is chaired by Melissa Bethell; the other members during the year were Stefan Bomhard and Anja Mutsaers. Josh Frank joined the Committee on 16 March 2026. Committee members are selected based on their broad experience, governance expertise, and understanding of executive remuneration across markets. The Committee meets at least twice annually and reports to the Board after each meeting. Since its formation in 2025, and in preparation for the Company’s listing, the Committee formally met twice. The Committee meets regularly without others present. Other attendees at Committee meetings typically include the Board Chair, CEO, CFO, Group Company Secretary, Chief HR Officer, Group Head of Reward, Head of Executive Reward and Share Plans, and the Committee’s independent advisers. Key topics considered by the Committee during the year Directors’ Remuneration Policy The Remuneration Committee oversaw the development of the Directors’ Remuneration Policy, ensuring its alignment with the Company’s strategic objectives, relevant market practices, shareholder expectations, applicable legislation, and the Dutch and UK Corporate Governance Codes. It also consulted with prospective shareholders prior to the listing to gather feedback on the proposed Remuneration Policy. Further consultation was carried out with shareholders and governance bodies on the proposed Policy in early 2026. The Committee conducted scenario analyses to assess the appropriateness of various potential pay outcomes. This process involved calculating remuneration across a range of scenarios, each based on different assumptions about the level of achievement of performance conditions and share price. The Committee determined that the link between the strategic objectives and the chosen performance measures for the annual bonus and share-based awards was appropriate. The Committee also reviewed peer group benchmarking to assess the Policy’s competitiveness and concluded that it is well positioned to support the Company’s long-term objectives. The Policy was submitted to the Board for approval and was subsequently adopted by the Company. It will be presented for adoption at the 2026 Annual General Meeting. Remuneration Committee Role of the Committee The Remuneration Committee is responsible for overseeing all matters relating to executive remuneration, incentive plans, and broader employee compensation frameworks. Its responsibilities are structured to support the Company’s strategy and long-term value creation and ensure alignment with shareholder interests and regulatory requirements. The Committee’s responsibilities include: • Executive remuneration: Making proposals to the Board on the Remuneration Policy and its implementation for Executive Directors, including fixed and variable components, performance criteria, and shareholding requirements. The Committee ensures that remuneration structures foster sustainable long-term value creation and consider internal pay ratios and market benchmarks. • Non-Executive remuneration: Making proposals to the Board on the Remuneration Policy and its implementation for Non-Executive Directors, ensuring fees reflect time commitment and contribution to the Company. • Executive Leadership Team remuneration oversight: Setting the remuneration framework and individual remuneration for members of the ELT. • Share-based incentives: Reviewing and recommending to the Board the design and terms of share-based incentive plans for Executive Directors as well as share plans for the broader employee population, including performance targets and clawback provisions. • Directors’ Remuneration Report: Preparing the annual Directors’ Remuneration Report, which includes the policy implementation, pay ratios, and the link between remuneration and performance. For the purposes of this report, references to actions taken by the Remuneration Committee should be interpreted as including instances where the Committee has made recommendations or proposals to the Board, rather than having taken final decisions itself. All such actions are undertaken in accordance with the Committee’s Terms of Reference, which set out the respective roles and authorities of the Committee and the Board. The Committee’s Terms of Reference are reviewed from time to time and are available on our website. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 65 Committee advisers Although the Committee is responsible for exercising independent judgment, it seeks input from internal and external advisers as necessary to ensure its decisions are well-informed and consider both internal and external factors. The Committee works with Willis Towers Watson (WTW) as its independent adviser. WTW can, and regularly does, meet with the Committee Chair without others present. The Committee is confident that the WTW team advising the Company is independent and has no other connection with the Company or any individual Director that could compromise objectivity. Confirmation of no deviation from the Remuneration Policy The Company did not deviate from the Remuneration Policy in 2025 for either the Executive Directors or the Non-Executive Directors. Individual remuneration of Executive Directors and other members of the Executive Leadership Team The Committee reviewed the individual remuneration packages for the Executive Directors and the other members of the ELT, which were subsequently approved by the Board. Packages were benchmarked against two distinct peer groups: AEX-listed companies and international peers in the global snacking and refreshment sector, reflecting the Company’s listing and headquarters in the Netherlands whilst having a global footprint and a distinct international orientation. No Executive Director participated in discussions determining their own remuneration outcome. However, the Committee did take note of the individual views of each Executive Director regarding the proposed amount and structure of their own remuneration. Share-based incentives for the broader employee population The Committee oversaw the transition and rollout of both legacy and new share-based incentives for the broader employee population, including Executive Directors. New share-based incentive plans were introduced to align with the Company’s long-term strategy and goals. The Committee ensured that the structure of these incentives supports sustainable value creation, fosters employee engagement, and is competitive with practices observed among Dutch listed companies and peers in the global snacking and refreshment sector. Management Report Management Report Financial Statements Further Information

Performance period Performance period Holding period Performance period CEO: 500% of base salary; CFO: 400% of base salary Holding period Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Base salary Benefits Annual Bonus PSP Foundation Plan 50% of award 50% of award Shareholding requirements Paid in cash Vesting Performance period Holding period End of exercise period The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 66 Summary of the proposed Directors’ Remuneration Policy and its implementation for Executive Directors The Directors’ Remuneration Policy will be presented for adoption at the 2026 Annual General Meeting on 7 May 2026. The chart below and table on the following pages summarise the remuneration elements for the Executive Directors, including their implementation in 2025 and proposed implementation in 2026. The full Directors’ Remuneration Policy is available on our website. Remuneration elements The Remuneration Policy for Executive Directors comprises several key elements: a base salary, benefits, an annual bonus focused on in-year financial and strategic objectives, a Performance Share Plan designed to support sustainable, long-term value creation, and a one-time co-investment plan tied to the realisation of the growth and margin trajectory for the Company as a standalone business (the Foundation Plan). The specific timing for each element is detailed below: Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 67 Purpose and link to strategy Summary of Policy for Executive Directors Implementation in 2025 (from listing onwards) Proposed implementation in 2026 Base salary Support the attraction and retention of highly qualified Executive Directors by reflecting the individual’s skill, experience, performance, and seniority, as well as the size and complexity of the role. • Paid in cash. • Typically reviewed annually. • Considerations for adjustments include the salary adjustments for other employees in the Netherlands, as well as relevant external market data. • Peter ter Kulve: €1,250,000 • Abhijit Bhattacharya: €875,000 No change Benefits Support the attraction and retention of Executive Directors by offering a competitive and cost-effective benefits package. • Executive Directors receive a benefits envelope as cash in lieu of a Company-sponsored pension scheme and car scheme. • Other benefits provided include medical, life and disability insurance and tax return support. • Benefits envelope: 20% of base salary No change Annual bonus Encourage the consistent achievement of financial and strategic objectives that align with the Company’s business strategy and enhance shareholder value. • Financial Performance Factor of between 0% and 200% of target. • Strategic Priorities Performance Multiplier of between 0% and 150%. • Overall maximum bonus capped at 200% of target opportunity. Target opportunity • Peter ter Kulve: 120% • Abhijit Bhattacharya: 100% Performance measures Based on legacy Unilever framework • 40%: Underlying Sales Growth • 30%: Underlying Operating Profit growth • 30%: Cash contribution Target opportunity • Peter ter Kulve: 120% (no change) • Abhijit Bhattacharya: 100% (no change) Performance measures • 25%: Organic Sales Growth • 25%: Adjusted EBITDA margin improvement • 25%: Free Cash Flow (a) • 25%: Market share gains Performance Share Plan Drive sustainable, long-term value creation by meeting key financial and/or strategic objectives. • Maximum target opportunity: 200% of base salary. • Performance Multiplier of between 0% and 200% of target. • Vests after three years, with additional two-year holding period. • Dividend equivalents are accrued proportionally as awards vest. • No regular PSP awards were made in 2025 post-Demerger. • Unilever PSP awards which lapsed due to the Demerger were replaced with awards in TMICC shares (see ‘Replacement Share Awards’ on the following page). Target opportunity • Peter ter Kulve: 180% • Abhijit Bhattacharya: 150% Performance measures • 50%: Organic Sales Growth • 50%: Constant Adjusted Earnings Per Share Growth(b) (a) An interim operating model operates between Unilever and TMICC for the period 2025 to 2027 as described in Note 21 to the financial statements. As a result, there is a fixed basis on which receivables and payables are settled between the companies, which is based on average terms from the carve out financials for the period 2022 to 2024 and does not reflect the actual performance on these parameters. Therefore, to make the target meaningful to the operations of the Company, for 2026 and 2027 the Committee will set targets to assess performance for a proxy of Free Cash Flow excluding changes in receivables and payables. (b) Adjusted for any change in the underlying number of shares. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 68 Purpose and link to strategy Summary of Policy for Executive Directors Implementation in 2025 (from listing onwards) Proposed implementation in 2026 Foundation Plan for Growth One-time co-investment plan to incentivise substantial formative work needed to realise the planned growth and margin trajectory for the Company as a standalone business. The Foundation Plan encourages significant personal investment in TMICC, aligning Executive Directors with long-term value creation. The structure of the Plan requires both absolute share price growth and relative Total Shareholder Return outperformance to deliver value to participants. • Matching options of up to five times the number of shares bought with Executive Director’s investment amount. • 50% will vest after three years and 50% will vest after four years, in both cases subject to continuous employment. • Each vested portion may be exercised upon vesting, but resulting shares cannot be sold until the fifth anniversary from grant. • Options may be exercised up to the seventh anniversary from grant. • The Plan will be implemented in 2026, subject to shareholder approval at the AGM. Target opportunity • Peter ter Kulve: Maximum personal investment of 500% of annual base salary • Abhijit Bhattacharya: Maximum personal investment of 400% of annual base salary • Market-priced matching options at a rate of up to five times the number of shares invested Performance measures • Subject to continued holding of the personal investment • Share options will vest only if the Company’s Total Shareholder Return exceeds the median of a defined peer of international snacking and refreshment companies Replacement Share Awards Replacement of the value lost on the portion of historic Unilever share awards that lapsed due to the Demerger. • Grant value equivalent to the portion of the original Unilever award forfeited. • Vesting to occur on the original vesting dates. • Peter ter Kulve: – Replacement Targeted Share Award: €23,159 (a)(c) – Replacement PSP Award: €42,753 (a)(c)(d) • Peter ter Kulve: – 2024 Replacement PSP Award: €289,446 (b)(c) – 2025 Replacement PSP Award: €422,195 (b)(c) • Abhijit Bhattacharya: – 2025 Replacement PSP Award: €728,074 (b) Legacy 2025 Performance Award Legacy commitment made in 2024 to incentivise performance up to the Demerger and the delivery of the separation. • The opportunity to receive this award is based on a legacy commitment made in 2024, in order to incentivise performance up to the Demerger and the delivery of the separation. • No payout n/a Legacy Rollover Share Award Granted by Unilever in 2024 to senior management, including the CEO, to reward personal contribution to the successful delivery of the Demerger. • Value equivalent to the original Unilever award being replaced. • 50% vested in February 2026, with the remaining 50% to vest in August 2026, subject to continued service. • Peter ter Kulve: – Rollover Share Award: €551,607(a)(c) n/a (a) Value at grant on 19 December 2025. Awards converted to a corresponding number of shares in TMICC based on the Unilever PLC closing share price on 5 December 2025 and the average closing share price of TMICC between 8 and 18 December 2025, inclusive. (b) Value to be granted in March 2026. (c) Legacy awards to the CEO are granted net of tax to ensure equivalence with the legacy Unilever award being replaced, which were awarded on a net of tax basis. Future awards will be granted on a gross basis. (d) The value of shares granted in pound sterling was converted to euro for the purposes of illustration in this table using the full-year average exchange rate of €1 = £0.85474. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 69 Purpose and link to strategy Summary of Policy for Executive Directors Implementation in 2025 (from listing onwards) Proposed implementation in 2026 Shareholding requirement Aligning the interests of the Executive Directors and other Executive Leadership Team members with those of stakeholders. Malus and clawback Manage risks and ensure alignment of executives with the Company’s long-term interests. Committee discretion to amend measures, targets and payment levels Summary of Policy for Executive Directors • CEO: 500% of annual base salary. • CFO: 400% of annual base salary. • Executive Directors are expected to achieve the prescribed shareholding threshold within five years of their appointment. • They will be required to hold all shares acquired as a result of the vesting of share awards and exercise of options (less any sales necessary for tax) until the prescribed shareholding threshold has been met. • The shareholding requirement will continue to apply for a period of two years following the Executive Director’s cessation of service. The Board may reduce, cancel or recover (clawback) any variable remuneration awarded to Executive Directors to an appropriate level if payment of the variable remuneration is unacceptable according to the requirements of reasonableness and fairness or if the Board determines that such action is necessary to ensure alignment with the Company’s long-term interests and sound governance standards. This can apply in circumstances which include, but are not limited to, the following: • material misstatement of financial results; • any situation where the award was made or determined based on erroneous or misleading data; • misconduct by the Executive Director; • required accounting restatement; • serious reputational harm to the Company directly attributable to the Executive Director’s actions; or • material corporate failure. The Board may operate clawback at any time prior to the second anniversary of the payment of a cash bonus or the vesting of an award under any incentive plan. The Board considers that such a period provides appropriate protection to recover remuneration in these circumstances and is in line with market practice. In circumstances where the specific Dutch statutory clawback triggers would apply, the Board may recover variable remuneration for a period of five years from the date the incorrect information has become known, in line with the requirements of the Dutch Civil Code. The Policy includes authority for the Committee to adjust performance conditions where circumstances make this appropriate and to adjust formulaic outcomes, including where these are not fully aligned with holistic performance over the relevant period. If any such adjustments are made, the details of these and the Committee’s rationale will be fully disclosed in the relevant remuneration report. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 70 TSR peer group In addition to the remuneration benchmarking peer group, a Total Shareholder Return (TSR) performance peer group is used for the purpose of the Foundation Plan. The same peer group is also used to benchmark performance as part of the Committee’s assessment of performance in the round when evaluating the formulaic outcome of incentive plans. • Chocoladefabriken Lindt & Sprüngli • Coca Cola Europacific Partners • Conagra • Danone • General Mills • Lotus • Mondelēz Peer groups Remuneration benchmarking peer group The Company is headquartered in the Netherlands but has a global footprint and a distinct international orientation. To ensure the remuneration of the Executive Directors remains competitive, the remuneration structure and levels are benchmarked against the median of two distinct peer groups: (1) companies included in the AEX index, and (2) as an additional reference a peer group of global companies in the international snacking and refreshments sector. The latter group consists of primarily European companies of comparable size and complexity, supplemented with US companies, representing the primary markets where the Company competes for talent. The composition of this group during 2025 is shown below: • Barry Callebaut • Chocoladefabriken Lindt & Sprüngli • Coca-Cola Consolidated • Coca-Cola Europacific Partners • Coca-Cola HBC • Cranswick • Danone • Emmi • General Mills • Glanbia • JDE Peet’s • Kellanova • Kerry Group • Keurig Dr Pepper • Mondelēz International • Monster Beverage Corporation • Nomad Foods • Orkla ASA • Südzucker • The Campbell’s Company • The Hershey Company • The J. M. Smucker Company • The Kraft Heinz Company • Monster • Nestlé • Orkla • PepsiCo • The Campbell’s Company • The Hershey Company • The J. M. Smucker Company Management Report Management Report Financial Statements Further Information

Underlying Sales Growth Cash Contribution Business performance factor Underlying Operating Profit growth Overall performance in €'000 875 1,313 1,750 2,625 875 875 875 Actual pay and scenarios 2025 actual (1) Maximum (2) On-target Minimum 2025 actual (1) Maximum (2) On-target Minimum Base salary Benefits Annual bonus PSP Legacy Rollover Award Base salary Benefits Annual bonus PSP Total fixed pay Variable pay Total fixed pay Variable pay in €'000 1,500 85% 35% 105% 76% 135% 3,000 5,250 1,500 9,000 3,238 1,050 540 5,425 2,250 4,500 1,250337 333 250 250 250 319 233 1,250 1,250 Actual pay and scenarios Total fixed versus variable pay Total fixed versus variable pay Chief Executive O‚cer Chief Financial O‚cer 40% 30% 30% 2025 annual bonus business outcome 2023 Replacement PSP vesting outcome Outcome Weighting Outcome232 175 175 175 The outcome of the 2023 Replacement PSP Award was determined based on the results of the corresponding Unilever 2023 Performance Share Plan. For more information about the Replacement Awards, please refer to page 74. 1,249 30% 70% 2025 48% 2025 52% (1) Represents the remuneration from the date of appointment as Executive Director on 23 September 2025 up to the end of the year (2) Maximum assumes the highest annual bonus payout and full PSP vesting, with no share price increase, excluding legacy arrangements and the Foundation Plan The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 71 Remuneration at a glance Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 72 2025 remuneration of Executive Directors Remuneration elements Base salary Between 23 September 2025 (the date of their appointment to the Board) and the Demerger, both Executive Directors continued to receive base salaries and other remuneration in accordance with their pre-Demerger Unilever employment agreements and applicable policies. From 8 December 2025 onwards, base salaries were provided to reflect the responsibilities and complexity of each role and market benchmarks for similar positions in the AEX and international snacking and refreshment sector, in accordance with the Remuneration Policy. The new annual base salaries were determined by the Board and are considered appropriate to attract and retain leaders of the calibre necessary to guide the Company through the post-listing period and to achieve its strategic goals. The CEO’s annual base salary was set at €1,250,000, while the CFO’s was set at €875,000. Benefits Between 23 September 2025 and the Demerger, both Executive Directors continued to receive benefits in accordance with their pre-Demerger Unilever agreements and applicable policies. During this period, the CEO’s benefits comprised insurance coverage, and pension contributions. The CFO received a benefits envelope equivalent to 20% of his annual base salary, paid in cash, in lieu of pension and car contribution. Both Executive Directors received life, medical and disability insurance and support with tax return preparation. As of 8 December 2025, both Executive Directors received benefits in accordance with their new remuneration packages in line with the Remuneration Policy. They did not participate in a company-sponsored pension scheme and did not receive a company car or car allowance. Instead, they received a benefits envelope equal to 20% of their annual base salary, paid in cash, which enabled them to make their own arrangements. This approach is consistent with the arrangements provided to other senior managers in the Company. They also continued to receive life, medical and disability insurance coverage in line with the pre-Demerger policies and continued to receive tax return support. Annual bonus The 2025 annual bonus relates to the 2025 performance year and will be paid in 2026. For the period between 23 September 2025 and the Demerger, the annual bonus for each Executive Director was calculated in line with their pre-Demerger Unilever agreements and the relevant Unilever policies, with 75% of payout based on the performance of TMICC as a Unilever Business Group and 25% based on Unilever’s overall performance. For the remainder of the year, the bonus was determined according to the Executive Directors’ new target opportunities as a percentage of their new salary, with performance outcomes calculated solely on the performance of TMICC. The target opportunities for this period were 120% of base salary for the CEO and 100% of base salary for the CFO. The 2025 annual bonus was subject to three performance measures defined by Unilever: Underlying Sales Growth (40%), Underlying Operating Profit Growth (30%) and Cash Contribution (30%). Targets were set by Unilever based on the Unilever perimeter for Ice Cream, as if the Company had remained a Business Group within Unilever and actual performance against these target ranges was assessed by the TMICC Remuneration Committee on the same basis. Therefore, the targets and results on the following page differ from the Company’s reported results. The Committee evaluated the Company’s performance relative to the established targets and concluded that the formulaic business performance outcome of 76% was appropriate. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 73 Performance Weighting % of target Underlying Sales Growth (a) 40% 2.6% 4.6% 6.0% 85% Underlying Operating Profit Growth (b)(c) 30% -0.7% 3.6% 7.1% 35% Cash Contribution (c)(d) 30% €394m €457m €490m 105% Overall performance based on the formulaic outcome 76% In line with the bonus framework applicable during the year, and consistent with the Directors’ Remuneration Policy, the final bonus for each individual Executive Director was determined by first applying the Business Performance Factor to the individual’s Strategic Priorities Performance Multiplier. The resulting bonus outcome is then applied to the applicable salary and individual target bonus percentage for the relevant part of the year to arrive at the final bonus payout. This resulted in the following payouts: Annual base salary applicable from Listing (€’000) Target annual bonus (applicable from Listing ) Business Performance Factor Strategic Priorities Performance Multiplier Total achievement as % of target (a) 2025 actual bonus (b) (€’000) Peter ter Kulve Chief Executive Officer 1,250 120% 76% 125% 76% x 125% = 95% 337 Abhijit Bhattacharya Chief Financial Officer 875 100% 76% 125% 76% x 125% = 95% 232 Annual Base Salary Target Bonus % Business Performance Factor (0-200% of target) Strategic Priorities Performance Multiplier (0-150%) Bonus Payout (a) For the period from 23 September to 7 December, this outcome applied to 75% of the annual bonus. The remaining 25% was subject to the Unilever performance outcome, which was assessed at 94% by Unilever. This Business Performance Factor is also multiplied by the Strategic Priorities Multiplier of 125% to arrive at the total bonus outcome. (b) Reported for the period from the date of appointment to the Board on 23 September 2025. (a) Equivalent to Organic Sales Growth metric in TMICC. (b) Equivalent to Adjusted EBIT growth metric in TMICC. (c) The actual Adjusted EBIT Growth and Cash Contribution are reported using the same foreign exchange rates as those incorporated into the targets at the time they were set. (d) Cash Contribution is calculated as the Adjusted EBITDA less Restructuring, Acquisition and Disposal related costs. Threshold (0% ) Target (100%) Maximum (200%) Management Report Management Report Financial Statements Further Information 4.3% €459m 76% 0.1%

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 74 Performance Share Plan and other share plan awards No PSP awards were made under the Directors’ Remuneration Policy in 2025 post-Demerger, other than in connection with the replacement of legacy awards granted by Unilever. Any outstanding Unilever share awards held prior to the Demerger and which were forfeited by Unilever were replaced with awards in TMICC shares. In addition, the Legacy Rollover Awards granted to the CEO and other participants in 2024 were fully converted to TMICC shares following the Company’s listing. Replacement Share Awards In line with other Group employees who held unvested Unilever share awards at the time of the Demerger, both the CEO and CFO are eligible for “Replacement Awards” under The Magnum Ice Cream Company Long Term Incentive Plan 2025. These Replacement Awards are made on substantially equivalent terms and with a value at grant matching the Unilever shares that lapsed as a result of time pro-rating. The CEO was eligible for Replacement PSP Awards corresponding to three previous Unilever PSP awards, originally granted in March of 2023, 2024 and 2025. In addition, he received a Replacement Award corresponding to a Unilever Targeted Share Award originally granted in March 2024. The Replacement Awards for the 2023 Unilever PSP and the Targeted Share Award were granted on 19 December 2025 and vested on 12 February 2026 following the outcome of the corresponding Unilever award, as determined by Unilever at 135% of the target level. The Remuneration Committee determined that the 2024 and 2025 Replacement PSP Awards would be granted in March 2026 and would vest in February 2027 and February 2028, respectively, in line with the terms of the legacy Unilever awards being replaced. The CFO was eligible to receive a Replacement Award corresponding to a previous Unilever PSP award, originally granted in March 2025. This award will be granted in March 2026 and will vest in February 2028. Legacy 2025 Performance Award The 2025 Performance Award was a one-off legacy commitment made in 2024 and subject to the performance of the Company in 2025 up to the Demerger. Both the CEO and CFO were eligible for an award valued at 50% of their target annual bonus, with half of the award delivered in early 2026 and the remaining half six months later. This award was subject to a stretching financial performance threshold, which required as a minimum that performance under the regular bonus would exceed the performance required for 150% payout. The Committee determined that the minimum performance required had not been achieved and, as a result, no payment would be made under this arrangement. Legacy Rollover Award To ensure the retention of talent deemed critical for, and reward personal contributions to the successful delivery of, the separation and establishment of an independent Ice Cream business, certain employees including the CEO were granted one-off awards of Unilever shares in 2024. Following the Demerger, these awards were ‘rolled over’ so that they instead related to shares in TMICC, while still subject to the original Unilever terms and conditions, adopted by the Board for this purpose. As a result, the CEO received a Rollover Award corresponding to the previous Unilever award received in 2024. This award did not have applicable Company performance conditions but was subject to continuous service and personal performance being assessed to be at least at a strong level. 50% of this award vested on 12 February 2026. The remaining 50% will vest in August 2026. The amount shown in the table on page 75 represents the non-cash expense recognised by the Company for this award during 2025. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 75 2025 outcomes The table below shows the remuneration of each Executive Director for the year 2025 from their appointment to the Board of Directors on 23 September 2025. It is important to note that the reported costs do not correspond to the actual amounts paid to individual Executive Directors. The share-based compensation represents the expense recognised for shares granted to the Executive Directors, in line with IFRS 2 share-based payment standards. Peter ter Kulve Chief Executive Officer Abhijit Bhattacharya Chief Financial Officer 2025(a) (€’000) Proportion of fixed and variable remuneration 2025(a) (€’000) Proportion of fixed and variable remuneration Base salary 319 233 Benefits 61 50 Fixed pay and benefits subtotal 380 30% 283 52% Annual bonus 337 232 Performance Share Plan (b) 333 25 Legacy Rollover Award 199 0 Variable remuneration subtotal 869 70% 257 48% Total remuneration (c) 1,249 540 (a) The figures shown reflect the remuneration in relation to the period from the date of appointment to the Board of Directors. (b) Includes legacy Targeted Share Award as described on page 74 under Replacement Share Awards. (c) Executive Directors did not receive any additional remuneration from any Group subsidiaries nor any loans or guarantees. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 76 Shares awarded to Executive Directors The following table presents a summary of all outstanding share awards, including those granted but not yet vested, as of 31 December 2025. For the purpose of transparency, the table also includes Replacement PSP awards that will be granted to the individual Executive Directors in March 2026. Plan Grant date Vesting date End of holding period Value of shares conditionally granted at grant(a) (€) No. of shares conditionally granted Value of shares as of 31 December 2025(b) (€) Peter ter Kulve(c) Chief Executive Officer 2023 Replacement PSP 19/12/2025 12/02/2026 12/02/2028 42,753(d) 3,126 43,064 Replacement Targeted Share Award 19/12/2025 12/02/2026 12/02/2028 23,159 1,727 23,522 Legacy Rollover Award 27/11/2024 12/02/2026 - 275,803 20,567 280,123 Legacy Rollover Award 27/11/2024 12/08/2026 - 275,803 20,567 280,123 2024 Replacement PSP March 2026 17/02/2027 17/02/2029 289,446 - (e) - 2025 Replacement PSP March 2026 16/02/2028 16/02/2030 422,195 - (e) - Abhijit Bhattacharya Chief Financial Officer 2025 Replacement PSP March 2026 16/02/2028 16/02/2030 728,074 - (e) - (a) Calculated using the average closing share price from 8 December 2025 to 18 December 2025, as applied at grant: Euronext Amsterdam - €13.41; London Stock Exchange - £11.69. (b) The closing prices on 31 December 2025 were as follows: Euronext Amsterdam - €13.62; London Stock Exchange - £11.775. (c) Under Unilever’s policy, the CEO’s legacy share awards were delivered net of tax, with the Company settling any taxes in cash at the point of vesting. To ensure substantial equivalence with the underlying Unilever awards, which were awarded on a net-of-tax basis, his Replacement awards are also granted on a net-of-tax basis. Any future share awards will be granted gross of tax. (d) Shares granted in pound sterling. The value was converted to euro using the full-year average exchange rate of €1 = £0.85474. (e) Number of shares to be determined, as these awards are to be granted in March 2026. The value of these awards has been calculated using the number of Unilever shares forfeited at the time of Demerger and the Unilever closing share price on 5 December 2025. The Unilever closing prices on that date were as follows: Euronext Amsterdam - €51.16; and London Stock Exchange - £44.56. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 77 Internal comparisons When setting the remuneration of the Executive Directors, the Remuneration Committee took into account the reward philosophy across TMICC. This philosophy is centred around offering fair, transparent, competitive and performance-driven rewards. The pay-for-performance principle cascades throughout the organisation: around 6,000 colleagues participate in the annual bonus plan under the same performance measures as the Executive Directors, with frontline teams in factories and sales having dedicated incentive schemes linked to their impact. Share plan participation extends widely, with nearly 2,000 colleagues receiving awards under our share plans on an annual basis. In addition, every TMICC employee received a €300 share award following our listing in December (the “Celebration Award”). More information on our wider reward philosophy can be found on page 22. Internal pay ratios are a relevant factor in determining the appropriateness of Executive Director remuneration as recognised in the Dutch Corporate Governance Code. The ratio of the CEO’s and CFO’s annual total remuneration to the average annual total remuneration of employees in 2025 was 68 and 29, respectively. These ratios have been calculated in accordance with the Dutch Corporate Governance Code by dividing the single-figure total remuneration for each Executive Director in 2025 by the average total remuneration of all other employees globally for the same period. The average total remuneration for all other employees has been derived from Note 4 on page 103. This calculation involved dividing the total personnel expense for 2025 by the reported number of FTEs (excluding Executive Directors), resulting in an amount of €67,689. The total remuneration of the Executive Directors was obtained from the table on page 75 and annualised for the purpose of this comparison. The Committee acknowledges that these ratios are shaped by numerous factors, such as a company’s industry, geographic footprint, and organisational structure. TMICC operates globally, with a considerable portion of its business and workforce based in emerging markets, where pay structures and levels are often substantially different from those in the Netherlands and Europe. Additionally, the Company’s production facilities and in-house sales teams worldwide increase the diversity of pay within the organisation. Therefore, comparing pay ratios with those of other companies or industries may not always be a meaningful exercise. Moreover, pay ratios can fluctuate considerably over time due to variables such as exchange rate movements and are strongly impacted by a company’s annual performance, which tends to have a greater effect on Executive Directors’ remuneration than on that of other employees as a greater proportion of their pay is performance-based. To address these limitations, the Committee will not only review current pay ratios but also trends over time, particularly in relation to Company performance. The table below sets out the annualised total remuneration for the Executive Directors, alongside the average remuneration for employees and the corresponding pay ratios. In future years, we will update this table to provide a five-year overview of pay ratio trends. Year Total annualised (a) remuneration (€’000) Average employee total remuneration (€’000) Pay ratio CEO CFO CEO CFO 2025 4,583 1,979 68 68 29 (a) The total remuneration figures for the CEO and CFO for 2025 as presented in this report reflect the period from their appointments to the Board of Directors on 23 September 2025. For the purposes of pay ratio calculations, these figures have been annualised by extrapolating the remuneration to represent a full twelve-month period. Shareholding requirements Under the Shareholding Policy, Executive Directors and Executive Leadership Team members are required to maintain a minimum shareholding in the Company. This requirement is intended to further align their interests with those of shareholders. The CEO must hold shares equal to 500% of base salary, while the CFO must hold shares equal to 400% of base salary. These shareholding requirements are at the higher end of market practice across both our AEX and international benchmarking peer groups. All after-tax shares must be retained until the relevant holding requirement is satisfied. Executive Directors are also obliged to adhere to the holding requirements set out in the Dutch Corporate Governance Code, meaning they must retain all after-tax shares awarded under the PSP and shares acquired from the exercise of options under the Foundation Plan for a minimum of five years from the date of grant (which in the case of Replacement PSP awards is calculated with reference to their original grant date). Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 78 Once these requirements have been fulfilled, shares may be sold, provided that all relevant insider trading prevention regulations are observed. The table below shows the required holdings and the actual holdings as of 31 December 2025, expressed as multiples of annual base salary. Over 90% of the CEO’s holding and the full holding of the CFO reflect investments made following the listing. Shareholding requirement (value as multiple of annual base salary) Actual shareholding(a) (value as multiple of annual base salary) Peter ter Kulve(b) Chief Executive Officer 500% 476% Abhijit Bhattacharya Chief Financial Officer 400% 235% (a) Actual shareholdings have been calculated using the number of shares held and the closing share price on 31 December 2025. The closing prices on that date were as follows: Euronext Amsterdam - €13.62; London Stock Exchange - £11.775. (b) Includes 1,938 shares held by spouse. All shares beneficially owned and any awards not subject to performance conditions count towards the shareholding requirement (on an estimated net-of-tax basis if tax is expected to be payable). The shareholding requirement will continue to apply for a period of two years following the cessation of service. Contractual arrangements Executive Directors are engaged through a service agreement governed by Dutch law. These agreements are established as contracts for services and do not constitute employment contracts. Each agreement is for a fixed term of four years. Executive Directors are subject to annual re-election by the general meeting. Both the Executive Director and the Company may terminate the agreement by giving six months’ written notice. If the Company terminates the agreement other than for cause, the Executive Director may receive a severance payment limited to a maximum of one year’s base salary, in accordance with the Dutch Corporate Governance Code. No severance is payable upon voluntary resignation or if an Executive Director is dismissed, not re-elected by the general meeting or not proposed for re-election at the end of the term. 2025 remuneration of Non-Executive Directors Remuneration elements Fixed Membership and Committee fees The Non-Executive Directors received fees for Board membership and for serving as a Committee chair or member from the date of their appointment to the Board of Directors. The Board Chair received an all-inclusive fee, meaning he did not receive additional compensation for serving as a Committee chair or member. Other fees and reimbursements Non-Executive Directors are eligible to receive a travel allowance for each meeting attended that is held outside their country of residence, to recognise the additional time commitment required. This is set at €2,500 per meeting for continental travel and €5,000 per meeting for intercontinental travel. All reasonable travel and other business expenses incurred by Non-Executive Directors while performing their duties are reimbursed at cost. No loans or guarantees were granted by the Company to the Non-Executive Directors. Non-Executive Directors did not receive any additional remuneration from any Group subsidiaries. All shares held by Non-Executive Directors have been acquired at their own expense and are intended for long-term investment purposes. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 79 Policy fee levels for Non-Executive Directors Under the Directors’ Remuneration Policy, the fee levels are currently set as follows: (€’000) Chair Senior Independent Director Member Board 270 (a) 140 110 Audit and Risk Committee 35 - 25 Remuneration Committee 30 - 20 Nomination and Governance Committee 25(b) - 15 (a) All-inclusive fee: the Board Chair does not receive any additional remuneration for serving as a Committee chair or member. (b) Not payable whilst the Committee is chaired by the Board Chair. These fees were set at the median fee levels of the AEX. As secondary reference points, and given the Company’s international orientation, Non-Executive Director fee levels were also benchmarked against fee levels in European companies in the snacking and refreshments sector and UK listed companies of a similar size. 2025 outcomes The table below shows the remuneration for each Non-Executive Director for the year 2025 from the date of their appointment to the Board of Directors in September. 2025 (€’000) Board fee Committee fees Travel allowance Total Jean-François van Boxmeer(a) 74 - - 74 Stacey Cartwright (b) 37 10 - 47 René Hooft Graafland (b) 29 13 - 42 Melissa Bethell (b) 29 14 3 46 Stefan Bomhard (b) 29 12 3 44 Anja Mutsaers (b) 29 9 - 38 Reginaldo Ecclissato (b) 29 4 3 36 Total remuneration 256 62 9 327 (a) Appointed on 23 September 2025. (b) Appointed on 26 September 2025. Melissa Bethell Chair of the Remuneration Committee Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 80 Other information Share capital and rights attaching to shares The authorised capital of the Company is €7,875,000,000. The authorised capital of the Company is divided into 2,250,000,000 shares, with a nominal value of €3.50 each. Further details relating to share capital can be found in Notes 14A and 14B. Upon issuance of shares, each shareholder shall have a right of pre-emption in proportion to the aggregate nominal value of such shareholder’s shares, subject to the limitations prescribed by the laws of the Netherlands and the Articles of Association (the Articles). The right of pre-emption does not apply to shares issued to employees of the Company or of a Group Company and shares issued against contribution other than in cash. Prior to each single issuance of shares, the right of pre-emption may be limited or excluded pursuant to a resolution of (i) a general meeting or (ii) the Board (if and during the fixed period the Board has been designated for that purpose by a general meeting at the proposal of the Board). The general meeting shall, for as long as such designation of the Board is in force, no longer have authority to resolve upon limiting or excluding the right of pre-emption. Unless the designation provides otherwise, it may not be withdrawn, other than upon a proposal thereto of the Board. A resolution of a general meeting to limit or exclude the right of pre-emption or to designate the Board for that purpose requires a majority of at least two-thirds of the votes cast, if less than one-half of the Company’s issued capital is represented at the meeting. The Articles shall apply by analogy to the granting of rights to subscribe for shares, but do not apply to the issuance of shares to a person exercising a right to subscribe for shares previously granted. Rights of pre-emption and authority to repurchase shares The Board currently has authority to issue shares or grant rights to subscribe for shares up to 10% of the number of shares currently in issue for any purpose, whether or not with a limitation or exclusion of the rights of pre-emption of existing shareholders of the Company; and the authorisation shall expire on the earlier of (i) the date falling six months following the conclusion of the 2026 Annual General Meeting and (ii) the date of renewal of the authorisation. The Board also has authority to acquire up to 10% of the shares in issue either through purchase on a stock exchange or otherwise, at a price, excluding expenses, not lower than the nominal value of the shares and not higher than 10% of the opening market price of the shares on each of the three stock exchanges where it is listed; and the authorisation shall expire on the earlier of (i) the date falling six months following the conclusion of the 2026 Annual General Meeting and (ii) the date of renewal of the authorisation. The Company has not repurchased any of its own shares. Substantial shareholders As at 27 February 2026, the following notifications were made to the Netherlands Authority for the Financial Markets (AFM) by substantial shareholders. The voting rights of substantial shareholders are the same as other shareholders. Date Name Number of Shares % Voting Interest 8 December 2025 Unilever PLC 121,533,558 19.85 17 December 2025 BlackRock Inc. 25,965,010 4.24 23 December 2025 Goldman Sachs Group Inc. 20,026,031 3.27 10 December 2025 FIL Limited 19,894,021 3.25 13 February 2026 Allan & Gill Gray Foundation 19,674,251 3.21 26 February 2026 Bank of America Corporation 17,565,194 2.87 22 December 2025 Barclays Plc 17,955,511 2.93 Nature of the trading market As at 31 December 2025, there were a total of 6,087 holders of record of TMICC shares on the share register; approximately 490 million TMICC shares were registered in the name of 3,505 holders of record with addresses in the US. These shares represented approximately 80% of the total TMICC shares in issue, of which approximately 45% relates to shareholders who hold their shares via Euroclear in the Netherlands and 41% to shareholders who hold their shares via Depositary Interests in the UK. Since certain of TMICC shares were held by brokers and nominees, the number of record holders in the US may not be representative of the number of beneficial holders, or of where the beneficial holders are resident. As at 31 December 2025, no interest was capitalised by the Group. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 81 Dividend waivers The Company has established an employee benefit trust (EBT) in order to satisfy its employee share award plan obligations. The Trustee of the EBT has agreed to waive, on an ongoing basis, any dividends payable on shares it holds in trust. Annual General Meeting The Company will hold its Annual General Meeting on 7 May 2026. The notice of convocation will be published on our website at least 42 calendar days prior to the meeting date. The business of the meeting will typically include: discussion of the Annual Report; the adoption of the Financial Statements; policy on additions to reserves and dividends; discharge of the members of the Board; or any other matters proposed by the Board or shareholders in accordance with Dutch law and the Articles. Pursuant to Dutch law the record date for the exercise of voting rights and rights relating to shareholders meetings is set at the 28th day prior to the date of the relevant meeting. Shareholders registered on such date are entitled to attend the meeting and to exercise the other shareholder rights (at the relevant meeting) notwithstanding any subsequent sale of their shares after the record date. Shareholders who wish to exercise the rights attached to their shares in respect of a shareholder meeting are required to register for such meeting. Shareholders may attend a meeting in person, vote by proxy or grant a power of attorney to a third party to attend the meeting and vote on their behalf. Details of registration for meetings, attendance and proxy voting will be included in the notice convening the relevant meeting. Contracts of significance and material contracts During the year, no Director had any interest in any shares or debentures in the Company’s subsidiaries, or any material interest in any contract with the Company or a subsidiary being a contract of significance in relation to the Company’s business. No member of the Group is party to any significant agreement that takes effect, alters or terminates upon a change of control or following a takeover of TMICC. In addition, there are no agreements providing for compensation for loss of office or employment as the result of a takeover of TMICC. There are no controlling shareholders of TMICC. Unilever PLC has a 19.85% shareholding in TMICC. As at the date of this Annual Report, TMICC is party to a Global Transitional Services Agreement, a Tax Matters Agreement and a Demerger Agreement with Unilever PLC. Prevention of insider trading policies and procedures The Company has adopted prevention of insider trading policies and procedures governing the purchase, sale, and other dispositions of its securities by Directors, senior management and employees that are reasonably designed to promote compliance with applicable prevention of insider trading laws, rules and regulations, and any listing standards applicable to the Company. Branch offices The Group operates through subsidiary companies and has one branch, being Betty Ice Distributie Chisinau Branch Moldova, Skuodo st. 28, Mazeikiai, LT-89100. Further details relating to subsidiaries can be found in Note 23. Directors’ share interests The table below sets out details of the Directors’ interests in shares as at 31 December 2025. None of the Directors or ELT members have a shareholding greater than 0.08%. Further details relating to share interests of Executive Directors can be found in the Directors’ Remuneration Report on page 76. Director Share Interests as at 31 December 2025 Melissa Bethell 7,750 Abhijit Bhattacharya 150,956 Stefan Bomhard1 8,655 Jean-François van Boxmeer 76,200 Stacey Cartwright 3,400 Reginaldo Ecclissato 20,027 René Hooft Graafland 35,500 Peter ter Kulve2 436,665 Anja Mutsaers 19,500 (1) Includes 955 shares of spouse (2)Includes 1,938 shares of spouse Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 82 Based on its assessment and with reference to Best Practice Provision 1.4.3 of the 2025 Dutch Corporate Governance Code, the TMICC Board confirms to the best of its knowledge that: • Following the Company’s recent transition to a standalone organisation, the systems, processes, and internal controls supporting its risk management framework are still being established and embedded. The Management Report provides insights into the material failings identified in the effectiveness of the internal risk management and control systems within this developing environment; • the Company continues to develop its internal risk management and control systems with the objective of providing reasonable assurance that financial reporting does not contain material inaccuracies and that material misstatements are prevented or detected; but these systems remain in a maturing state; • the systems supporting sustainability reporting are similarly at an early stage of development. For 2025 reporting, the Company relied on Unilever for certain areas of reporting and is continuing to develop and embed its own processes, data sources, and internal controls, with the objective of progressively enhancing the robustness of sustainability reporting; • at the balance sheet date, the TMICC Board does not have information to suggest that the internal risk management and control systems fail to provide sufficient comfort that the operational and compliance risks identified in the Risk Management section of this Management Report are being effectively managed, considering the Company’s risk appetite; • based on the current state of affairs, it is justified that the financial reporting is prepared on a going concern basis; and • the Management Report states the material risks as well as uncertainties to the extent they are relevant for the Company’s continuity for a period of twelve months after the preparation of the report, as referred to in best practice provision 1.2.1. Given that the Company’s systems, processes and internal control frameworks are still maturing, these do not provide certainty over the achievement of strategic, operational, compliance, and reporting objectives, nor can they be relied upon to prevent or detect all misstatements, inaccuracies, fraud, operational issues, or non-compliance. On this basis, the TMICC Board considers that the Company is working towards compliance with best practice provision 1.4.3 of the Dutch Corporate Governance Code as it is not yet fully compliant with the provisions in 1.4.3 (ii)-(iv), which it expects to achieve by 2026. Management Statement and Report TMICC Board is responsible for establishing and maintaining adequate internal risk management and control systems. Further information on the Company’s risk management approach is set out in the Risk Management section of this Management Report. During the final three weeks of 2025, the Company demerged from Unilever and became a standalone organisation. An interim operating model was implemented, supported by extensive Transitional Service Agreements (TSAs) with Unilever to ensure continuity of operations. The reliance on shared financial and operational processes under these TSAs, alongside the continued development of the Company’s own processes and systems, created an environment exposed to inherent transitional, operational, financial, non-financial, and compliance risks. These risks are being addressed through a phased design and implementation of the Company’s risk management and internal control framework. This has been supported by enhanced governance oversight, internal risk assessments, targeted control testing and monitoring during the separation and stabilisation phase and internal audit in 2025. In 2026, the Company will focus on the implementation and stabilisation of controls, considering the Company’s risk appetite and strategic objectives; and will also address the requirements of Provision 29 of the UK Corporate Governance Code. Statement by the Board The Board recognises that internal risk management and control systems are subject to inherent limitations and cannot provide absolute assurance that all risks have been identified or effectively managed. The level of assurance provided is influenced by factors including the Company’s risk appetite, the complexity and maturity of its operations, external dependencies and the dynamic business environment. Certain risks therefore remain outside the Company’s direct control. The principal risks the Company faces, the Company’s risk management framework and risk appetite are described in the Risk Management section of this Management Report. Management Report Management Report Financial Statements Further Information

The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 83 and established internal control principles (COSO 2013), as well as the underlying SOX and ICFR expectations for listed entities. The framework is tailored to the Group’s specific risks, complexity, and materiality as a listed entity, and includes clear control activities, defined ownership and accountability, and management review controls designed to prevent and detect material misstatements. Directors Responsibility Statement Each of the Directors confirms that, to the best of their knowledge: • the 2025 TMICC Annual Report, taken as a whole, is fair, balanced and understandable, and provides the information necessary for shareholders to assess the Company’s position and performance, business model and strategy; • the Financial Statements which have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and EU-adopted international accounting standards give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company and the undertakings included in the consolidation taken as a whole; and • the Management Report includes a fair review of the development and performance of the business and the position of TMICC and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face. The Directors and their roles are listed on pages 45 to 47. Josh Frank was not a Director as at 31 December 2025. He was appointed to the Board on 16 March 2026 and will assume responsibility for the 2026 Annual Report. Going concern The activities of the Group, together with the factors likely to affect its future development, performance, financial position, cash flows, liquidity, and borrowing facilities are described on pages 1 to 32. In addition, Notes 14 to 17 on pages 123 to 135 describe the Group’s objectives, policies and processes for managing its capital; its financial risk management objectives; details of its financial instruments and hedging activities, and its exposures to credit and liquidity risk. Although not assessed over the same period as going concern, the viability of the Group has been assessed on page 40. The Group has significant financial resources together with established business relationships with many customers and suppliers around the world. Consequently, the Directors believe that the Group is well placed to manage its business risks successfully for at least 12 months from the date of approval of the Financial Statements. After making enquiries, the Directors consider it appropriate to adopt the going concern basis of accounting in preparing this Annual Report. The Company remains committed to further strengthening its risk management and internal control framework in line with the best applicable practice, particularly in the jurisdictions where it is listed, recognising that such systems are designed to provide reasonable and/or limited, but not absolute, assurance. The Company’s risk management framework and related Board statements provide governance context for the external auditor’s risk assessment, while the audit approach remains independently determined in accordance with applicable auditing standards. This statement should not be interpreted as a statement made in response to the requirements of the US Sarbanes-Oxley Act (SOX). This Annual Report does not include a report of management’s assessment regarding internal control over financial reporting or an attestation report of the company’s registered public accounting firm due to a transition period established by rules of the Securities and Exchange Commission for newly public companies. Internal control framework and carve-out considerations During the preparation of the 2024 Combined Carve-Out Financial Statements, a material weakness was identified within the Unilever Group’s internal control over financial reporting (ICFR) because a small number of control activities were not precise enough to prevent or detect all material misstatements. As a result of this material weakness, two material misstatements were not detected during the preparation of the 2024 Combined Carve-Out Financial Statements, though these misstatements were detected and corrected prior to the finalisation of the 2024 Combined Carve-Out Financial Statements. The control weaknesses related specifically to the process to prepare the 2024 Combined Carve-Out Financial Statements and Condensed Combined Financial Statements. Following the Separation, the Group’s Financial Statements have been prepared through consolidation of its own entities rather than through carve-outs from Unilever legal entities. Consequently, the control deficiencies identified within the Unilever Group’s carve-out processes are no longer relevant. In anticipation of future compliance with SOX and ICFR expectations for listed entities and in response to the identified deficiency, the Group has continued to design and implement its own ICFR framework following the Separation to mitigate the risks associated with financial and non-financial reporting. The ICFR framework is being developed in alignment with applicable regulatory requirements Management Report Management Report Financial Statements Further Information

Financial Statements Financial Statements The Magnum Ice Cream Company | Annual Report on Form 20-F 2025 | 84 Reports of the independent registered public accounting firms Consolidated financial statements Notes to the consolidated financial statements Management Report Financial Statements Further Information