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Colgate's 2015 4Q and Year-end Earnings

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January 29, 2016

Notice for Webcast

Our conference call and the related webcast contain non-GAAP financial measures, which differ from our reported results prepared in accordance with U.S. generally accepted accounting principles (GAAP). These non-GAAP financial measures of operating results for the three and twelve months ended December 31, 2015 exclude the impact of the following items: the charge resulting from a change in accounting for the Company’s Venezuelan operations, the gain on the sale of the Company’s laundry detergent business in the South Pacific, charges related to the 2012 Restructuring Program, charges related to the effective devaluations in 2014 and 2015 as a result of the changes to Venezuela’s foreign exchange system, charges related to a foreign tax matters, costs related to the sale of land in Mexico and charges related to foreign completion law matters. A complete, quantitative reconciliation between our reported results and these non-GAAP financial measures is available in the “For Investors� section of our web site at http://www.colgatepalmolive.com.

Diluted earnings per share growth for fourth quarter 2015, on a currency-neutral basis, eliminates from Diluted earnings per share growth (GAAP) the impact of the items described above and the period-over-period changes in foreign exchange rates in the translation of local currency results into U.S. dollars. Accordingly, for purposes of calculating Diluted earnings per share growth for fourth quarter 2015, on a currency-neutral basis, fourth quarter 2015 local currency results, which include the impact of foreign currency transaction gains and losses, are translated into U.S. dollars using average foreign exchange rates for fourth quarter 2014. Diluted earnings per share growth for full year 2015, on a currency-neutral basis, eliminates from Diluted earnings per share growth (GAAP) the impact of the items described above and the period-over-period changes in foreign exchange rates in the translation of local currency results into U.S. dollars. Accordingly, for purposes of calculating Diluted earnings per share growth for full year 2015, on a currencyneutral basis, full year 2015 local currency results, which include the impact of foreign currency transaction gains and losses, are translated into U.S. dollars using 2014 average foreign exchange rates by quarter.

Management’s estimate of earnings per share growth on a currency-neutral basis for full year 2016 eliminates from earnings per share growth (GAAP) the impact of the items described above, the 2012 Restructuring Program, 2015 and 2016 Venezuela results and period-over-period changes in foreign exchange rates in the translation of local currency results into U.S. dollars. Accordingly, for purposes of estimating earnings per share growth for full year 2016, on a currency-neutral basis, estimated full year 2016 local currency results, which include the impact of estimated foreign currency transaction gains and losses, are translated into U.S. dollars using 2015 average foreign exchange rates by quarter. The Company also reports organic sales growth, which is Net sales growth excluding the impact of foreign exchange, acquisitions and divestments. See the “For Investors� section of our web site at http://www.colgatepalmolive.com for a comparison of organic sales growth to sales growth in accordance with GAAP.

The Company defines free cash flow before dividends as Net cash provided by operations less Capital expenditures. Free cash flow before dividends is not a measure of cash available for discretionary expenditures since the Company has certain non-discretionary obligations such as debt service that are not deducted from the measure. Free cash flow before dividends is not a GAAP measurement and may not be comparable to similarly titled measures reported by other companies. See the “For Investors� section of our web site at http://www.colgatepalmolive.com for a comparison of free cash flow before dividends to Net cash provided by operations as reported in accordance with GAAP.

Our conference call and the related webcast may also contain forward-looking statements. Such statements may relate, for example, to sales or volume growth, organic sales growth, profit or profit margin growth, earnings per share growth (including on a currency neutral basis), financial goals, the impact of currency devaluations, exchange controls, price controls and labor unrest, cost-reduction plans including the 2012 Restructuring Program, tax rates, new product introductions or commercial investment levels, among other matters. These statements are made on the basis of our views and assumptions as of this time and we undertake no obligation to update these statements except as required by law. We caution investors that any such forward-looking statements are not guarantees of future performance and that actual events or results may differ materially from those statements. Investors should consult the Company’s filings with the Securities and Exchange Commission (including the information set forth under the caption “Risk Factors� in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014) for information about certain factors that could cause such differences. Copies of these filings may be obtained upon request from the Company’s Investor Relations Department or on the Company’s web site at http://www.colgatepalmolive.com.

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