Charmin toilet paper brands. North America market shares are over 40% for Bounty and over 25% for Charmin. Enterprise Markets Enterprise Markets are responsible for sales and profit delivery in specific countries, supported by SBU - agreed innovation a nd supply chain plans, along with scaled services like planning, distribution and customer management. Corporate Functions Corporate Functions provides company - level strategy and portfolio analysis, corporate accounting, treasury, tax, external relations, governance, human resources, information technology and legal services. Global Business Services Global Business Services provides scaled services in technology, process and data tools to enable the SBUs, the EMs and CF to better serve consumers and custom ers. The GBS organization is responsible for providing world - class services and solutions that drive value for P&G. Strategic Focus Procter & Gamble aspires to serve the world’s consumers better than our best competitors in every category and in every cou ntry in which we compete and, as a result, deliver total shareholder return in the top one - third of our peer group. Delivering and sustaining leadership levels of shareholder value creation requires balanced top - and bottom - line growth and strong cash gen eration. The Company competes in daily - use product categories where performance plays a significant role in the consumer's choice of brands, and therefore, play to P&G's strengths. Our focused portfolio of businesses consists of ten product categories whe re P&G has leading market positions, strong brands and consumer - meaningful product technologies. Within these categories, our strategic choices are focused on delighting and winning with consumers. Our consumers are at the center of everything we do. We win with consumers by delivering irresistible superiority across five key vectors - product performance, packaging, brand communication, retail execution and value. Winning with consumers around the world and against our best competitors requires superior innovation. Innovation has always been, and continues to be, P&G’s lifeblood. Superior products delivered with superior execution drive market growth, value creation for retailers and build share growth for P&G. Ongoing productivity improvement is cruci al to delivering our balanced top - and bottom - line growth, cash generation and value creation objectives. Productivity improvement enables investments to strengthen the superiority of our brands via product and packaging innovation, more efficient and eff ective supply chains, equity and awareness - building brand advertising and other programs and expansion of sales coverage and R&D programs. Productivity improvements also enable us to mitigate challenging cost environments (including periods of increasing commodity and negative foreign exchange impacts). Our objective is to drive productivity improvements across all elements of the statement of earnings and balance sheet, including cost of goods sold, marketing and promotional spending, overhead costs and capital spending. We act with agility and are constructively disrupting our highly competitive industry and the way we do business, including how we innovate, communicate and leverage new technologies, to create more value. We are improving operational e ffectiveness and organizational culture through enhanced clarity of roles and responsibilities, accountability and incentive compensation programs. Additionally, within these strategies of superiority, productivity, constructive disruption and organization , we have declared four focus areas to strengthen our performance going forward. These are 1) leveraging environmental sustainability as an additional driver of superior performing products and packaging innovations, 2) increasing digital acumen to drive consumer and customer preference, reduce cost and enable rapid and efficient decision making, 3) developing next - level supply chain capabilities to enable flexibility, agility, resilience and a new level of productivity adapting to a new reality and 4) de livering employee value equation for all gender identities, races, ethnicities, sexual orientations, ages and abilities for all roles to ensure we continue to attract, retain and develop the best talent. We believe these strategies are right for the long - t erm health of the Company and our objective of delivering total shareholder return in the top one - third of our peer group. The Company expects the delivery of the following long - term growth algorithm will result in total shareholder returns in the top thir d of the competitive, fast - moving consumer goods peer group: • Organic sales growth above market growth rates in the categories and geographies in which we compete; • Core earnings per share (EPS) growth of mid - to - high single digits; and • Adjusted free cash flow productivity of 90% or greater. During periods of significant macroeconomic pressures, we intend to maintain a disciplined approach to investing in our business, which may cause short - term results to deviate from the long - term growth algorithm. 16 The Procter & Gamble Company