Conagra Inc. Watchdog Report ™ CAG (NYSE) | CIK:23217 | United States | SEC llings The new model for duciary analysis Oct 1, 2021 Jan 1, 2020 Jan 1, 2016 RECENT PERIOD HISTORICAL PERIOD Key Facts 10-K led on Jul 23, 2021 for period ending May 2021 Business address: , , United States Reporting Irregularities RECENT HISTORICAL Industry: Specialty Canning (NAICS 311422) Financial Restatements SEC ler status: Large Accelerated Filer as of May 2021 Index member: S&P 500, Russell 1000 Revisions

Market Cap: $16.3b as of Sep 30, 2021 Out of Period Adjustments Annual revenue: $11.2b as of May 30, 2021 Late Filings

Corporate Governance Impairments

CEO: Sean Connolly since 2015 Changes in Accounting Estimates

CFO: David S. Marberger since 2016 Disclosure Controls 1st level

Internal Controls Board Chairman: Richard H. Lenny since 2018 Critical / Key Audit Matters Audit Committee Chair: NOT AVAILABLE 2nd level Anomalies in the Numbers RECENT HISTORICAL Auditor: KPMG LLP since 2005 Benford's Law Outside Counsel (most recent): A&G Law LLC 3rd level Beneish M-Score

Accounting Disclosure Complexity SEC Reviewer: John D Reynolds 4th level Securities & Exchange Commission Concerns RECENT HISTORICAL SEC Oversight

SEC Letters to Management

Revenue Recognition

Non-GAAP Measures Litigation & External Pressures RECENT HISTORICAL Signicant Litigation

Securities Class Actions

Shareholder Activism

Watchdog Research, Inc., offers both individual and group subscriptions, Cybersecurity data feeds and/or custom company reports to our subscribers. Management Review Subscribe: We have delivered 300,000 public company reports to over RECENT HISTORICAL 27,000 individuals, from over 9,000 investment rms and to 4,000+ public CEO Changes company corporate board members. CFO Changes

How to analyze this company's Watchdog Insider Sales Report? Skip to the last page Pledged Securities

Information in this report is effective Oct 1, 2021 and is taken from the Mergers & Acquisitions company's public nancial and regulatory lings. Latest ling 10-K led Sales of Assets 07/23/2021. Over 75 accounting and data analysts scrutinize and review crucial information, footnotes, disclosures, etc., from these lings. Material Auditor Assessment facts are captured and processed using our proprietary methods which RECENT HISTORICAL identify key risk factors our readers need to know. Each Watchdog Report Auditor Changes represents 30 or more hours of analysis and processing. Auditor Experience

Accounting and nancial disclosure data from Audit Analytics. Auditor Tenure Executive compensation data from Shore Group and Intrinio. Data from Sharadar. Audit Fees Data from Barchart via Quandl. Non-Audit Fees Data from Exchange Data International via Quandl.

Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Overview Reporting Irregularities Anomalies in the Numbers SEC Concerns Litigation & External Pressures Management Review Auditor Assessment Peer Group

Overview

Price and Volume History

This graph shows the price and trading history for Conagra. Warning signs and red ags are marked on the graph according to their disclosure dates.

1 Jul 26, 2021 - Insider Sale 20 Jul 19, 2019 - Impairment

2 Jul 26, 2021 - Insider Sale 21 Jul 19, 2019 - Disclosure Controls

3 Jul 23, 2021 - Impairment 22 May 9, 2019 - Lawsuit: Klein v. Arora et al

4 Jul 23, 2021 - Critical / Key Audit Matters 23 Apr 2, 2019 - Disclosure Controls

5 Jul 23, 2021 - Critical / Key Audit Matters 24 Feb 22, 2019 - Lawsuit: West Palm Beach Fireghters' Pension Fund v. …

6 Oct 6, 2020 - Change in Accounting Estimates 25 Feb 22, 2019 - Securities Class Actions Lawsuit: West Palm Beach Fireghters' Pensio…

7 Oct 6, 2020 - Change in Accounting Estimates 26 Jan 3, 2019 - Disclosure Controls

8 Jul 27, 2020 - Insider Sale 27 Oct 25, 2018 - SEC letters to management

9 Jul 27, 2020 - Insider Sale 28 Aug 7, 2018 - Lawsuit: Rasmussen v. Inc et al

10 Jul 27, 2020 - Insider Sale 29 Aug 7, 2018 - Securities Class Actions Lawsuit: Rasmussen v. Pinnacle Foods Inc et al

11 Jul 24, 2020 - Impairment 30 Jul 24, 2018 - Insider Sale

12 Jul 24, 2020 - Impairment 31 Jul 24, 2018 - Insider Sale

13 Jul 24, 2020 - Impairment 32 Jul 20, 2018 - Impairment

14 Jul 24, 2020 - Critical / Key Audit Matters 33 Jul 20, 2018 - Impairment

15 Jul 24, 2020 - Critical / Key Audit Matters 34 Jul 19, 2018 - Insider Sale

16 Jun 3, 2020 - Insider Sale 35 Jun 26, 2018 - Mergers & Acquisitions

17 Jul 23, 2019 - Insider Sale 36 Apr 3, 2018 - Insider Sale

18 Jul 22, 2019 - Lawsuit: Opperman v. Conagra Brands Inc et al 37 Sep 21, 2017 - Mergers & Acquisitions

19 Jul 19, 2019 - Impairment 38 Jul 25, 2017 - Insider Sale

Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 39 Jul 21, 2017 - Impairment 46 Jul 15, 2016 - Change in Accounting Estimates

40 Jul 21, 2017 - Impairment 47 Jul 7, 2016 - Insider Sale

41 Jul 21, 2017 - Impairment 48 May 25, 2016 - SEC letters to management

42 Oct 5, 2016 - Lawsuit: Urena et al v. Conagra Foods Inc et al 49 Apr 11, 2016 - Insider Sale

43 Sep 2, 2016 - Change in CFO 50 Jan 28, 2016 - Lawsuit: Moises Negrete v. ConAgra Foods et al

44 Sep 2, 2016 - Lawsuit: In re Broiler Chicken Antitrust Litigation 51 Jan 8, 2016 - Insider Sale

45 Jul 15, 2016 - Impairment

Notications

Important notications related to the company are listed here. Notications may come from the SEC, exchanges such as the NYSE or , or Watchdog Research. Examples of notications include announcements of bankruptcy proceedings, company name changes, and noncompliance with SEC regulations or exchange rules.

There are no notications for Conagra at least since 2016.

Peer Group

Peer groups are used by companies to benchmark executive compensation and performance. Each company identies its own peer group. Peer groups vary from company to company.

Peer Group Companies Who Named Conagra as a Peer

Company Ticker Market Cap Company Ticker Market Cap

Estee Lauder Companies Inc. EL $107b CVS Health Corp. CVS $112b

Mondelez International, Inc. MDLZ $81.3b Altria Group, Inc. MO $83.9b

Colgate Palmolive Co. CL $63.8b Colgate Palmolive Co. CL $63.8b

Keurig Dr Pepper Inc. KDP $48.4b Kimberly Clark Corp. KMB $44.6b

Kraft Co. KHC $45b Constellation Brands, Inc. STZ $40.5b

Kimberly Clark Corp. KMB $44.6b Sempra Energy SRE $40.4b

General Mills Inc. GIS $36.2b Inc. GIS $36.2b

Hershey Co. HSY $34.9b Hershey Co. HSY $34.9b

Hormel Foods Corp. HRL $22.2b Brown Forman Corp. BFB $32.1b

Conagra Brands Inc. CAG $16.3b Conagra Brands Inc. CAG $16.3b

Watchdog Research, Inc. • www.watchdogresearch.com • [email protected] • (855) 820-6272 Peer Flag Comparison

The return to a company’s stock is not the only measure of executive performance. Ethics matter, and growth can quickly reverse and gains evaporate if a company’s accounting and nancial reporting processes are not fundamentally sound and trustworthy. How does Conagra's accounting quality compare to its peer group?

CAG PEER GROUPFLAGS CAG PEER GROUPFLAGS Reporting Irregularities Litigation & External Pressures

Financial Restatements 8 1 Signicant Litigation 1 8

Revisions 5 4 Securities Class Actions 5 4

Out of Period Adjustments 6 3 Shareholder Activism 9

Impairments 1 8 Cybersecurity 6 3

Changes in Accounting Estimates 4 5 Management Review

Disclosure Controls 1 5 3 CEO Changes 1 5 3

Internal Controls 7 2 CFO Changes 2 1 6

Critical / Key Audit Matters 7 2 Insider Sales 5 4

Pledged Securities 5 4 Anomalies in the Numbers

Benford's Law 5 4 Mergers & Acquisitions 1 8

Beneish M-Score 9 Sales of Assets 9

Accounting Disclosure Complexity 6 3 Auditor Assessment

Auditor Changes 7 1 1 Securities & Exchange Commission Concerns

SEC Oversight 9 Auditor Experience 9

SEC Letters to Management 9 Auditor Tenure 5 4

Revenue Recognition 7 2 Audit Fees 6 3

Non-GAAP Measures 9 Non-Audit Fees 8 1

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