Regulation FD Disclosure (Form 8-K)

The Procter & Gamble Company (the "Company") announced today a 2-year, non-core restructuring program while presenting at the Deutsche Bank's dbAccess Global Consumer Conference. The program includes three elements: portfolio choices, supply chain optimization and organization design. The program will include brand exits in certain markets, the details of which will be announced at a later date. In addition, the portfolio choices will enable related interventions in the supply chain to drive various benefits, including efficiencies, faster innovation, and cost reduction. The Company also expects to reduce up to 7,000 roles, or approximately 15% of our current non-manufacturing workforce. In connection with this announcement, the Company expects to record a total non-core charge of $1.0 to $1.6 billion before tax over the course of the two-year program. The Company expects 25% of these charges to be non-cash.

The slides referenced in connection with the announcement are attached hereto as Exhibit 99.1 and are incorporated by reference herein.

The information contained in this 8-K, including Exhibit 99.1, is being furnished pursuant to Item 7.01, "Regulation FD Disclosure."