Unilever completed the spinoff of Magnum Ice Cream Company at the close of business on 6 December 2025. Unilever shareholders received 0.2 shares of MICC for each share of UL owned (1 MICC for each 5 UL). This transaction was part of a company reorganization. On 9 December 2025, Unilever completed an 8 for 9 reverse stock split. Both transactions are covered by these instructions.

Resolution:

Unilever and Magnum Ice Cream Company supplied information on this transaction indicates this spinoff will meet the criteria for being a tax-free reorganization distribution. The Magnum Ice Cream Company Form 20FR12B registration filing with the SEC can be found at the EDGAR site at this address: https://www.sec.gov/Archives/edgar/data/2071668/000110465925106340/tm2515841-10_20fr12b.htm#t10TA  US tax consequences begin on page 162.

The cost basis allocation information is calculated from the values given in an IRS form 8937. The IRS Form 8937 can be found on this page of the Unilever web site: https://www.unilever.com/files/unilever-plc-irs-form-8937-attachment.pdf

NOTE:

The cost basis allocation is dependent on the prices used for both Magnum Ice Cream Company and Unilever in the cost basis allocation calculations. In our experience brokers tend to use the prices found in the guidance companies post on their websites including IRS form 8937. If available, our instructions will use the guidance in form 8937. If your broker does not use that guidance, or form 8937 is not publicly available, the cost basis of the companies involved as recorded in your accounting records and in your broker’s records may not match. This is not cause for concern. This is just due to the inexact nature of the tax code in this regard. Partnership tax returns have specific areas to reconcile these usually small differences. ICLUBcentral tax printer software automatically fills in these adjustments in the normal operation of the software using the data imported from your accounting records and that you enter from your 1099.

 The Spinoff Entry

Go to Accounting > Securities > Record spinoff of securities in myICLUB.com. If you are unfamiliar with spinoff transactions you can get help at this URL: https://www.myiclub.com/faq/article.aspx?id=54

Here is the information you need to complete the spinoff.

Step 1

• Date: 12/6/2025
• Parent Company : Unilever (UL)
• Number of daughter companies : 1

Step 2

• Choose Remaining Basis Percentage: 94.88 (per form 8937)
• Symbol of new company : MICC
• Shares received : (0.2 x # of UL shares owned) Include fractional part, if any. For example, if you owned 100 UL shares, enter 20 (100 x 0.2)
• Price Per Share : 15.21   (Closing MICC price on 12/6/2025)                         
• Cash received:  See your broker statement for cash-in-lieu received

Click Submit to save the transaction and the spinoff has been entered.

NOTE 2:

Magnum Ice Cream Company is incorporated in the Netherlands. Be sure to correctly identify the country in the security profile of the Magnum Ice Cream Company.

• Go to Accounting > Securities > Security Settings.
• Click the Pencil/Edit button next to the listing for Magnum Ice Cream.
• Click the Country drop-down and choose Netherlands.
• Click Submit to save the changes.

The Stock Split Entry

Go to Accounting > Securities > Record a Stock Split in myICLUB.com.

Step 1

• Date: 12/9/2025
• Symbol: UL (Unilever)

Click the Continue button

Step 2

• Shares after split: Calculated field, leave blank
• Split ratio: 8 for 9
• Cash for fractional shares: See broker statement for cash-in-lieu
• Choose the cash account to receive the cash and add any comments, if any.

Click Submit to save the stock split.