WHIRLPOOL CORPORATION CONFIDENTIAL

EMEA LEADERSHIP TELECONFERENCE

NOVEMBER 26, 2013



1
WHIRLPOOL CORPORATION CONFIDENTIAL
AGENDA
Welcome Esther Berrozpe

Full Year Outlook 2013 Sidnei Sanches

Profit Plan 2014 Esther Berrozpe
Sidnei Sanches

ELA: Built-in Marco Balliano

Q&A All
2
WHIRLPOOL CORPORATION CONFIDENTIAL
Key Financial Performance
QUARTER 4 EOP OUTLOOK
3
Q4 Nov Fcst vs Q4 Sept Fcst Q4 Nov Fcst vs Q3 Actual
USD
1
10.8 (9.2) (6.7) 4.9 9.2 0.4
10
Q3 (Actual) Volume PMR P4G Rev Gen SDA CS Q4 (Nov Fcst)
0.1%
1.2%
Warranty: (0.9)m$
Pension: (1.2)m$
Infra : (1.9)m$
Seasonality: (2.5)m$
Engineering: 0.5m$
O&T: 0.3m$

MDA (33)kU

USD
15
(1.8) (3.9) (2.7) 2.0 0.4 0.7
10
Q4 (Sep Fcst) Volume PMR P4G Rev Gen SDA CS Q4 (Nov Fcst)
1.8% 1.2%

Material: (4.0)m$
O&T/OCOS: 1.3m$

F(x)
Q4 Q4 Q3 Q4
Nov Fcst Sep Fcst Actual LY vs. Sep Fcst vs. Q3 ACT vs. Q4 LY
Units 3,313 3,360 3,058 3,214 (47) 255 99
Net Sales 824 875 780 794 (51) 43 30
asv 248.6 260.5 255.2 247.1 (11.8) (6.6) 1.5
11.8 % 11.9 % 10.8 % 12.1 % (0.1) pts 1.0 pts (0.3) pts
(10.4)% (10.1)% (10.6)% (11.1)% (0.3) pts 0.2 pts 0.7 pts
EOP Reported 10 15 1 8 (5) 9 2
1.3 % 1.8 % 0.1 % 1.0 % (0.5) pts 1.1 pts 0.3 pts
F(x) 1.33 1.33 1.33 1.30
Q4
SG&A %
% of Sales
US$ Million
Gross Margin %
WHIRLPOOL CORPORATION CONFIDENTIAL
FULL YEAR EOP OUTLOOK
4
Q1 Q2 Q3 Q4 FY FY FY FY
ACTUAL ACTUAL ACTUAL OUTLOOK OUTLOOK SEP FCST MAY FCST LYEAR
Units 2,566 2,918 3,060 3,313 11,858 12,000 12,087 11,546
Net Sales 668 732 778 824 3,001 3,085 3,115 2,874
11.4 % 11.3 % 10.8 % 11.8 % 11.3 % 11.4 % 12.3 % 9.9 %
(12.5)% (12.0)% (10.6)% (10.4)% (11.3)% (11.2)% (10.9)% (11.5)%
EOP Reported (8) (6) 1 10 (4) 1 40 (52)
(1.2)% (0.9)% 0.1 % 1.2% (0.1)% 0.0 % 1.3 % (1.8)%
F(x) 1.32 1.31 1.33 1.33 1.32 1.33 1.31 1.29
Gross Margin %
SG&A %
% of Sales
US$ Million
WHIRLPOOL CORPORATION CONFIDENTIAL
EXECUTIVE SUMMARY
Macro-economic environment unchanged, still uncertain and volatile

Industry demand expected to be flat overall; continuous decline in West Europe and
growth in East and MEA region

Step improvement in EMEA EOP driven primarily by MDA business

PMR and selective volume growth in key markets/categories
Restructuring plans(footprint and infrastructure)
P4G execution

Cash generation driven by earnings and working capital improvement

TURN AROUND OF OUR MDA BUSINESS AND
ENHANCE GROWTH AND PROFITABILITY OF SDA AND CUSTOMER SERVICE
EMEA PROFIT PLAN 2014
5
WHIRLPOOL CORPORATION CONFIDENTIAL
KEY DRIVERS OF EMEA 2014 PROFIT PLAN
7% MDA volume growth in overall EMEA. with market share gains in key markets, i.e. France, Germany,
Poland, Central Europe and MEA

EMEA Gross Margin increasing by 4 points up to 15% on Net Sales, with positive progression from January,
through LfL price increase and mix improvement

MPI investment to support growth (especially distribution expansion and PMR) through pay-for-
performance spending

Rev gen investments growing by US $21M, focused on trade events, in store execution and on-line
activities

Aggressive P4G plan with strong productivity both in materials and manufacturing

Infrastructure cost below prior year by US $8M (excluding PEP impact) with full absorption of US$6M
inflation. Key drivers are HC reduction and savings in discretionary expenses. Continuous investment in
talent upgrade and people development

Restructuring savings below original plan in 2014 driven by lower volume in Side-by-side and delayed
execution of engineering savings; full recovery expected in 2015

Customer service and SDA delivering substantial improvement in EOP (+US $13M)
EMEA PROFIT PLAN 2014
6
WHIRLPOOL CORPORATION CONFIDENTIAL
KEY ASSUMPTIONS
EMEA PROFIT PLAN 2014
2013
Outlook
2014
PP
Variance
H
i
g
h

L
e
v
e
l
s

I
n
d
i
c
a
t
o
r
s

Industry Growth % (0.8)% 0.0%
Market Share (%) 8.3% 8.6% 0.3 pts
Volume MDA (M units) 11.0 11.8 7.0%
Volume SDA (M units) 0.7 1.0 33.6%
Production (M units) 8.6 8.9 3.5%
Revenues (Bi$) 3.0 3.3 10.0%
K
e
y

E
O
P

D
r
i
v
e
r
s

PMR (% of Net Sales) (1.7)% 1.5%
P4G Net (M$) 26 29
Restructuring (M$) 23 33
Rev Gen (% of Net Sales) 1.4% 2.0% (0.6) pts
US$ Fx (avg) 1.32 1.33
E
O
P
.

F
C
F
.


&

W
o
r
k
i
n
g

C
a
p
i
t
a
l

EOP EMEA (4) 125 129
(% of Net Sales) (0.1)% 3.8% 3.9 pts
FCF 65 110 45
(% of Net Sales) 2.2% 3.3% 1.1 pts
Working Capital Year end 8.7% 6.3% 2.4 pts
Year avg. 16.0% 14.0% 2.0 pts
7
WHIRLPOOL CORPORATION CONFIDENTIAL
EMEA FULL YEAR P&L
FY FY FY PP'14 vs OL13 OL13 vs 2012
Mln US$ PP 2014 OL 2013 2012 B / (W) B / (W)
Units 12,881 11,858 11,546 1,023 312
Net Sales 3,310 3,001 2,874 309 127
ASV 257.0 253.1 248.9 3.9 4.2
Cost of Sales 2,809 2,662 2,590 (148) (71)
% of Net Sal es 84.9% 88.7% 90.1% 3.8 pts 1.4 pts
Gross Margin 501 339 284 162 56
% of Net Sal es 15.1% 11.3% 9.9% 3.8 pts 1.4 pts
Total SG&A 372 339 332 (33) (8)
% of Net Sal es 11.2% 11.3% 11.5% 0.1 pts 0.2 pts
Amortization 4 4 4 0 0
Operating Profit 125 (4) (52) 128 48
% of Net Sales 3.8% (0.1%) (1.8%) 3.9 pts 1.7 pts
Net Hedge / FX (1) (7) (6) 5 (1)
All other OIOE (3) (4) (45) 1 41
IC OIOE 0 0 (1) 0 1
EBIT 120 (14) (104) 135 90
EBIT % of Net Sales 3.6% (0.5%) (3.6%) 4.1 pts 3.1 pts
Financial Performance
EMEA PROFIT PLAN 2014
2014 PLAN IS A KEY MILESTONE TOWARD LRP OBJECTIVES
8
WHIRLPOOL CORPORATION CONFIDENTIAL
EMEA EOP BY BUSINESS
EOP 2013 OL 2014 PP

MDA $ (115)M $ 0M
+$115M
SDA $ 63M $ 74M
+$ 11M
CS $ 47M $ 50M
+$ 3M
EMEA $ (4)M $ 125M
+$ 129M
EMEA PROFIT PLAN 2014
9
WHIRLPOOL CORPORATION CONFIDENTIAL
EOP CROSSOVER OL13 TO PP14
EMEA PROFIT PLAN 2014
EOP PP
2014
125
CS
3
SDA
11 (13)
BD/Ins.
(2)
Rev. Gen.
(21)
Restr.
benefits
33
P4G
30
PMR
51
Volume
39
EOP
2013 OL
4
Special
Projecst
EOP (US $ M)
- 0.1% 3.8%
EOP, % of
Net sales
Includes US $10M
of PMR related to
R/S activities
AGGRESSIVE PLANS IN ALL LEVERS TO BRING OUR MDA BUSINESS TO BREAK-EVEN
MDA
773K
units
2013=1.4%
2014= 2.0%
MDA improvement of US $115M
10
WHIRLPOOL CORPORATION CONFIDENTIAL
EMEA TOTAL VOLUME
MDA INCREMENTAL VOLUME +775K
EMEA PROFIT PLAN 2014
'000 units 2013 2014 % Delta
MDA / CS 11,115 11,890 7.0% 775
Total BI 4,565 5,035 10.3% 470
Total FS 6,476 6,779 4.7% 303
CS 74 76 2.7% 2
SDA 741 990 33.6% 249
TOTAL VOLUME 11,858 12,881 8.6% 1,023
11
WHIRLPOOL CORPORATION CONFIDENTIAL
INDUSTRY AND WHIRLPOOL EVOLUTION 2012-2014
98 97 96 94 96 95 94
Whirlpool
price index
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
-2.0%
-5.0%
0.2%
-0.4%
-2.3%
-0.8%
-2.0%
-1.1%
8.6%
8.7%
8.6%
8.5%
8.4%
8.3%
8.4%
8.4%
8.3%
8.2%
8.0%
8.1%
7.7%
7.9%
8.3%
Q1
Act
Q2
Act
Q3
Act

Q4
Act
FY
Act
Q1
OL
Q2
OL
ASSUMING FLAT INDUSTRY IN 2014, GROWTH IN BOTH MARKET SHARE AND PRICE INDEX
Indutry Sales units, % change vs. LY
Whirlpool Market share, %
1, Data for July and August, September data from GfK will be available end of November
Source: GfK, MDA-9, EU-23
95 94 94
Q3
OL
Q4
OL
FY
OL
2012 2013
95 96 97 96 96
2014
Q1
Act
Q2
Act
Q3
Act
1
Q4
OL
FY
OL
Outlook
FY
2012
FY
2013
FY
2014
EMEA PROFIT PLAN 2014
12
WHIRLPOOL CORPORATION CONFIDENTIAL
MDA VOLUME BY COUNTRY
Volume (Ths. units) PP 2014 2013 OL
Vs. 2013 OL
(units)
Vs. 2013 OL (%)
Northern Europe 862 799 62 7.8%
Benelux 655 626 29 4.6%
Germanics Area 1.755 1.670 85 5.1%
Switzerland 173 158 15 9.4%
NORTH AND CONTINETAL REGION 3.445 3.254 191 5.9%
France 1.675 1.604 71 4.4%
Italy 1.220 1.220 - -
Iberia 190 176 14 7.7%
Greece 85 75 10 14.0%
WEST & SOUTH REGION 3.170 3.083 87 2.8%
Poland & Baltic 677 608 69 11.3%
Central Europe 431 398 34 8.5%
Poland. Baltics & Central East 1.108 1.006 103 10.2%
Eastern Europe Region 422 378 44 11.6%
South East Europe 329 306 22 7.3%
EAST & SOUTH EAST EUROPE AREA 751 685 66 9.6%
ME & NWA AREA 852 811 41 5.0%
South Africa 720 620 100 16.1%
IKEA 1.510 1.345 165 12.2%
CENTRAL. EAST & MEA REGION 4.941 4.467 474 10.6%
OEM 228 214 14 6.7%
Total MDA 11.784 11.011 773 7.0%
EMEA PROFIT PLAN 2014
13
WHIRLPOOL CORPORATION CONFIDENTIAL
MDA MILC CROSSOVER 2013 TO PP 2014
Positive mix driven by:
Product mix in every country
Built in growth plan
Dish growth
New product launches: Dragon88/ Fjord project
Net Price Increase +1% LFL
Mix
(12)
TPI MILC
FY 2014
641
Mix
53
32
Volume
39
CPU Log.
4
FX
(11)
MILC
FY 2013
536
LfL
MILC (US $M)
EMEA PROFIT PLAN 2014
14
DETAILED PMR PLAN DEFINED FOR EACH COUNTRY AT A TRADE PARTNER LEVEL
WHIRLPOOL CORPORATION CONFIDENTIAL
2014 PROFIT PLAN P4G
IMPORTANT COST REDUCTION CRITICAL TO DELIVER 2014 OBJECTIVES
Million $ Q1 Q2 Q3 Q4 FY
Materials + FPS 8.4 7.8 10,2 10.9 37.2
Conversion 0.7 3.9 4.0 3.2 11.7
O&T Capitalization (6.4) (9.0) 1.7 2.9 (10.9)
Freight & Warehouse 0.8 1.0 1.1 1.1 4.1
Quality 1.3 1.3 1.3 1.3 5.3
OCOS (1.1) 0.5 (0.6) 0.7 (0.4)
Corporate recharge (0.6) (0.6) (0.6) (0.6) (2.4)
PEP - (2.6) (3.2) (1.9) (7.6)
Infrastructure (2.2) (1.7) (2.3) (0.6) (6.8)
P4G MDA 0.9 0.5 11.6 17.2 30.3
Material 0.4 0.4 0.4 0.4 1.6
Logistics 0.3 0.3 0.3 0.3 1.2
Quality (0.3) (0.3) (0.3) (0.3) (1.3)
Infrastructure (0.6) (0.7) (0.7) (0.9) (2.9)
P4G SDA (0.3) (0.3) (0.4) (0.5) (1.5)
EMEA P4G 0.7 0.2 11.2 16.7 28.8
EMEA PROFIT PLAN 2014
15
WHIRLPOOL CORPORATION CONFIDENTIAL
EMEA PP2014 FULL YEAR FCF
NET EARNINGS AND WORKING CAPITAL MAIN DRIVERS OF CASH GENERATION
EMEA PROFIT PLAN 2014
US$ Mi l l i on
2012
Actual
2013
Outlook
2014
P.Plan
Net Earnings ($95) $0 $85
$0 $0 $0
Amort/Deprec $115 $92 $102
$0 $0
Funds from Operations $20 $92 $187
$0 $0 $0
Receivables ($49) $12 ($40)
Inventories $13 $14 $50
Payables ($44) $12 $44
$0 $0 $0
Working Capital ($79) $39 $54
$0 $0 $0
Other Op Accounts $35 $4 $31
Restructuring $13 $31 ($28)
$0 $0 $0
Cash from Op.Cycle ($11) $166 $245
$0 $0 $0
Capital Expenditure ($88) ($101) ($135)
$0 $0 $0
Free Cash Flow ($99) $65 $110
$0.0 $0.0 $0.0
FCF % of NS %(3.0) %2.2 %3.3
FULL YEAR
16
WHIRLPOOL CORPORATION CONFIDENTIAL
EMEA P&L PP14 BY QUARTER
Q1 Q2 Q3 Q4 FY
Mln US$ PP 2014 PP 2014 PP 2014 PP 2014 PP 2014
Units 2,831 3,137 3,349 3,564 12,881
Net Sales 736 813 859 902 3,310
ASV 260.1 259.2 256.4 253.2 257.0
Cost of Sales 639 699 720 751 2,809
% on Net Sal es 86.8% 85.9% 83.9% 83.3% 84.9%
Gross Margin 97 114 138 151 501
% on Net Sal es 13.2% 14.1% 16.1% 16.7% 15.1%
Total SG&A 88 96 92 96 372
% on Net Sal es 12.0% 11.8% 10.7% 10.7% 11.2%
Amortization 1 1 1 1 4
Operating Profit 8 17 46 54 125
% on Net Sales 1.1% 2.1% 5.3% 6.0% 3.8%
Net Hedge / FX (0) (0) (0) (0) (1)
All other OIOE (1) (1) (1) (1) (3)
IC OIOE 0 0 0 0 0
EBIT 7 16 45 53 120
EBIT % of Net Sales 0.9% 2.0% 5.2% 5.9% 3.6%
Financial Performance
EMEA PROFIT PLAN 2014
17
WHIRLPOOL CORPORATION CONFIDENTIAL
EMEA P&L YOY Q1 14 VS. Q1 13
Q1 Q1 vs. '13
Mln US$ PP 2014 ACT2013 B / (W)
Units 2,831 2,566 264
Net Sales 736 668 68
ASV 260.1 260.2 (0.2)
Cost of Sales 639 592 (47)
% of Net Sal es 86.8% 88.6% 1.8 pts
Gross Margin 97 76 21
% of Net Sal es 13.2% 11.4% 1.8 pts
Total SG&A 88 83 (5)
% of Net Sal es 12.0% 12.5% 0.5 pts
Amortization 1 1 (0)
Operating Profit 8 (8) 16
% of Net Sales 1.1% (1.2%) 2.3 pts
Net Hedge / FX (0) (2) 2
All other OIOE (1) 1 (1)
IC OIOE 0 (0) 0
EBIT 7 (10) 17
EBIT % of Net Sales 0.9% -1.5% 2.4 pts
Financial Performance
MDA 202Ku
13= 1.2%
14= 1.7%
USD
(8)
11 5 1 5 (4) 2 0 (3)
8
Q1 2013 Volume PMR P4G Restr.
Benefits
Rev Gen SDA CS Talent
Upgrade
Q1 2014
PP
- 1.2%
1.1%
EMEA PROFIT PLAN 2014
18
WHIRLPOOL CORPORATION CONFIDENTIAL
EMEA P&L SEQUENTIAL Q1 14 VS. Q4 13
Q1 Q4 vs OL'13
Mln US$ PP 2014 OL 2013 B / (W)
Units 2,831 3,313 (482)
Net Sales 736 824 (88)
ASV 260.1 248.6 11.4
Cost of Sales 639 727 88
% of Net Sal es 86.8% 88.2% 1.5 pts
Gross Margin 97 97 0
% of Net Sal es 13.2% 11.8% 1.5 pts
Total SG&A 88 86 (2)
% of Net Sal es 12.0% 10.4% (1.6) pts
Amortization 1 1 (0)
Operating Profit 8 10 (2)
% of Net Sales 1.1% 1.2% (0.1) pts
Net Hedge / FX (0) (0) (0)
All other OIOE (1) (1) 0
IC OIOE 0 0 (0)
EBIT 7 9 (2)
EBIT % of Net Sales 0.9% 1.1% (0.2) pts
Financial Performance
MDA (485)Ku
Material: 4.7m$
Conversion: 2.0m$
Expenses: 0.7m$ 13= 0.6%
14= 1.7%
EMEA PROFIT PLAN 2014
19
WHIRLPOOL CORPORATION CONFIDENTIAL
PMR CROSSOVER Q4-2013 TO Q1-2014
MILC
Q1-2014
146
Mix
14
TPI
5
LfL
6
Volume
(13)
MILC
Q4-2013
134
MILC (US $M)
VOLUME SEASONALITY MORE THAN OFFSET BY PMR ACTIONS
EMEA PROFIT PLAN 2014
47
MILC/
unit (US $)
55
20
WHIRLPOOL CORPORATION CONFIDENTIAL
AGENDA
Welcome Esther Berrozpe

Full Year Outlook 2013 Sidnei Sanches

Profit Plan 2014 Esther Berrozpe
Sidnei Sanches

ELA: Built-in Marco Balliano

Q&A All
21
WHIRLPOOL CORPORATION CONFIDENTIAL
EMEA ELA
OPERATIONAL LEVERS
STRATEGIC LEVERS
FUTURE
(not now)
Stop volume loss, selective growth & PMR focus
P4G acceleration
Working Capital efficiency
Built-in growth
True product leadership
Radical fixed cost reduction & simplification
Current Profit Pools growth & MEA expansion
PEOPLE

True brand leadership
Brand portfolio
optimization
Brand preference
growth
New business
development
B2C
New profit pools
New channels /
trade partners

Talent, leadership and engagement
2014 2015 2016 2013
22
WHIRLPOOL CORPORATION CONFIDENTIAL
AMBITION TO REGAIN NUMBER TWO POSITION IN BUILT-IN BY 2017
* Including IKEA
Source: Whirlpool internal data, GfK data, BCG analysis
#3 in EMEA Built-in market... ... #2 in EMEA Built-in market
13% market share
*
... ... to 16% - 17% market share
4.6 million sold units... ... 6.0 6.5 million sold units
750 million Euro net sales... ... 1 1,1 billion Euro net sales
5 million Euro operating profit... ... 90 100 million Euro operating profit
to 2017 From 2013E...
23
WHIRLPOOL CORPORATION CONFIDENTIAL
CONSUMERS FAVOR BI APPLIANCES OVER FS DUE TO AESTHETICS
Purchased MDA product categories and reasons for choice of BI / FS
"Which appliance did you buy? As free-standing (FS) or Built-in (BI)?" "Why as free-standing or Built-in"
35%
8%
9%
13%
34%
23%
14%
16%
65%
Microwave
oven
23%
Hobs 80%
Ovens 78%
Dishwasher 70%
Refrigerator /
Cooler
31%
4%
Source: 80 interviews with consumers from Italy, France, Germany and Poland who bought a kitchen within the last three years conducted September 2013; BCG analysis
Why FS: "Elegancy of the appliance", "Too big to built it in", "Price"
Why BI: "Predefined in kitchen layout"
Not bought Bought as FS Bought as BI
Why BI:
"Predefined in kitchen layout"
"Space optimization"
"Esthetics"
Why FS: "Flexibility with regards to position"
Why BI: "Predefined in kitchen layout", "Esthetics"
24
WHIRLPOOL CORPORATION CONFIDENTIAL
AS A CONSEQUENCE, BI GAINING SHARE OVER FS
France Italy Germany Poland Consumer behavior
7.46
35%
65%
6.63
33%
2008
67%
2012 2012
74%
11.92
25%
2008
75%
13.07
26%
11.99
2008
43%
54%
57%
13.89
46%
2012
69%
31%
2008 2012
4.08
78%
4.35
22%
Built-in
Free-standing MDA
1
market vol.
(in Mn. units)
1. MDA 9 product categories excluding hoods 2. Based on 80 interviews per market with consumers who bought a kitchen within the last three years conducted September 2013
Source: GfK, Consumer research, BCG analysis
More and more built-
in product offerings in
relevant price set for
consumers
Exception Italy:
postponement of
kitchen investments
due to macro-
economic downturn
Built-in preferred to
freestanding mainly
due to esthetics
2


Development of BI
share since '08
25
WHIRLPOOL CORPORATION CONFIDENTIAL
UNEVENLY SPREAD INCOME ACROSS POPULATION LEADING TO
POLARIZATION OF PRICE SEGMENTS
Poland
55 %
1.2

52 %
19 %
18 %
11 %
Germany
6.1

14 %
16 %
15 %
France
3.2

48 %
19 %
19 %
14 %
Italy
2.2

47 %
18 %
23 %
12 %
Price segments 2012 ... ... per focus country (in % of total country volume)
All focus countries
12.7 Mn. units

6.6
(52%)
2.1
(17%)
2.3
(18%)
1.7
(14%)

Note: Analysis includes main BI product categories Cooking, Hobs, Cooling and Dishwashers; data as of end of 2012
Source: WHR KitchenAid strategy analysis from June 2013, GFK, central project team, BCG analysis
Change vs. 2008
+1.1ppts
High end
(PI >150)
-1.8ppts
Core
(PI 90-110)
+1.7ppts
Value
(PI <90)
-1.0ppts
Core Plus
(PI 110-150)
26
WHIRLPOOL CORPORATION CONFIDENTIAL
Across countries, online most important infor-mation
source (exemplary for BI hob purchase
1
) ...
... and online sales growing rapidly since 2010 (total
volume of focus countries in Mn. units)
In-store
information
18%
Brochures &
catalogues
17%
General
magazines
9%
Family and
friends
14%
Sales
assistant
35%
Internet 51%

1. Which of the following sources of information did you use to gather information about your current built-in hob? 2. And what kind of internet website did you visit to gather information?
Source: Research Plus Study: Cooking U&H Hob Shopper Insight, Feb 2012 (Quantitative web survey with structured questionnaire of 20min, carried out in last 2 weeks of November 2011);
GFK data as of end of 2012 MDA 9 excluding hoods ; BCG analysis
Traditional
sales
Internet
sales
2012
13.3

11.8
(89%)
1.5
(11%)
2010
12.4

11.5
(93%)
0.9
(7%)
Share of online sales
1% / 32k units
16% / 563k units
10% / 613k units
25% / 311k units
ONLINE DEVELOPED INTO MAIN INFORMATION SOURCE AS SALES
CHANNEL ALSO GROWING RAPIDLY
+625k
27
WHIRLPOOL CORPORATION CONFIDENTIAL
Capture market growth
Assumptions on market growth modeled for each channel
and country with market teams
Graph illustrative
2017 2013
THREE TYPES OF GROWTH CONSIDERED TO PROJECT 2017 SALES
Gain share
Defined bottom-up together with market teams draft list of
focus trade partners per initiative defined
Gain share
IKEA
Benefit from organic IKEA growth
Three volume growth types
Capture
market growth
One market execution plan
Source: WHR / BCG BI growth project team
28
WHIRLPOOL CORPORATION CONFIDENTIAL
Initiative Description
Optimize brand
portfolio
Position KAid at attractive price point in the premium segment' to tap larger part of
high-end market & deploy optimized brand portfolio
Gain share
initiatives
Enablers
Grow volumes with
selected trade partners
Gain volume through few selected trade partner deals leveraging on our Value
Brands (e.g. co-operation with pan-EU DIY or local large furniture trade)
Leverage retail / online
growth
Benefit from Retail/Online BI growth with a dedicated replacement offering,
supported by a differentiating 360 degree campaign
Leverage Online /
Digital
Optimize own website (including e.g. planning tools) to capture and steer consumers
in new purchase-path
Identify strong players to 'run with the runners' and support them to succeed in the
marketplace
Ensure sustainable
product leadership
Continuously update product line-up across all categories and manage quality
Reinforce consumer &
customer perception
Meet rising expectations re availability and service level and ensure appropriate
level of brand invest
Conduct changes to
organizational
structure
Implement structural changes on organizational level (central and in markets) to
enable WHR's sales organization to exploit the potential
4 SHARE-GAIN INITIATIVES AND 4 ENABLERS WILL CREATE BI
LEADERSHIP
A
B
C
D
E
F
G
H
Capture selected "high-
volume" accounts
Sustain profitable
Kitchen specialist
business
Source: WHR / BCG BI growth project team
29
WHIRLPOOL CORPORATION CONFIDENTIAL
VOLUME PROJECTED TO GROW FROM 4.6M TO 6.3M UNITS
NET SALES TO INCREASE FROM 725M TO 1,1BN
263
222
210
Volume (in k units)
6,500
6,000
5,500
5,000
0
Baseline 2013
Market growth
IKEA
A: KitchenAid
B: High volume
C: Retail growth
D: Sustain Kitchen
2017
6,260
4,606
160
500
300
2013
4,606
A
B
C
D

1. Assumed to take 40% of additional Whirlpool volumes above market growth from Electrolux (incl. Electrolux IKEA business), 30% from value brand players, 20% from BSH; stretch case
Note: PMR impact included on base business as outlined in LRP
Source: WHR / BCG BI growth project team
Resulting BI market position and
market share Volume and value projection
725
45
56
57
46
789
26
46
1,064
xx Net sales (in m)
2013 2017
#1 ~26% ~25%
#2 ~17% ~16%
#3 ~13% ~15%
Gain share from
1
:
Electrolux
DeDietrich
Neff/Siemens
Other value brand
players
30
WHIRLPOOL CORPORATION CONFIDENTIAL
P&L OP PROJECTED TO INCREASE FROM 0M TO 93M IN '17
2013 2014 2015 2016 2017
Volume (k units) 4.606 5.040 5.375 5.830 6.260
Net Sales (m) 725 810 878 975 1.064
Additonal initiative TPI (m) - (2) (5) (6) (7)
COGS (m)
(555) (594) (620) (665) (703)
MILC (m) 170 214 253 304 354
MILC (%) 23% 26% 29% 31% 33%
Overhead
1
(m) (169) (181) (190) (196) (201)
OP (m) 0 33 63 108 153
PMR Risks
4
(m) - 0 (20) (40) (60)
OP after safety buffer (m) 0 33 43 68 93
thereof due to cost effects
2
(m)
thereof due to PMR effects
3
(m)
16 32 50 68
15 30 46 61
1. Includes Warranty costs, SG&A, O&T, Intercompary results, FX impact, Concessions 2. Includes TCP and Fixed cost leverage effects 3. Includes Lfl and Mix effects 4. In line with LRP
Note: figures include 2% YoY productivity gain & 61m PMR benefit as outlined in LRP (2017 vs. 2013) which is stretched equally across years
Source: WHR / BCG BI growth project team
31
WHIRLPOOL CORPORATION CONFIDENTIAL
AGENDA
Welcome Esther Berrozpe

Full Year Outlook 2013 Sidnei Sanches

Profit Plan 2014 Esther Berrozpe
Sidnei Sanches

ELA: Built-in Marco Balliano

Q&A All
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