Chris O’Leary Executive Vice President; Chief Operating Officer, International

1 International Segment Growing Sales and Earnings ($ in Millions) Net Sales Segment Operating Profit

$2,876 $291 $2,685 $2,535 $2,572 $248 $239 $2,104 $201 $192

F07 F08 F09 F10 F11 F07 F08 F09 F10 F11

2 International Sales Growth Including Proportionate Share of Joint Ventures*

($ in Millions) $5,000+ 4-yr CGR = 7%

$4,098 $3,865 $3,626 $3,704 $3,090

F07 F08 F09 F10 F11 F12 Proforma

Consolidated Businesses Proportionate Share of Consolidated Excluding Yoplait Int’l Ongoing Joint Ventures* International Sales

*Non-GAAP Measure. See Appendix for Reconciliation

3 General Mills Fiscal 2011 Performance Europe

• Net Sales: $905 Million

• Constant Currency Sales Growth: +7%*

• Growth Led by Häagen-Dazs, and

• Yoplait Will Significantly Increase Scale

*Non-GAAP Measure. See Appendix for Reconciliation

4 General Mills Fiscal 2011 Performance Greater China

• Fiscal 2011 Net Sales: $440 Million

• Constant Currency Sales Growth: +19%*

• Strong Growth for Häagen-Dazs and

• Strong GDP Growth, Rising Disposable Incomes

*Estimated Net Sales Converting Local Currency Data at a Fixed Exchange Rate.

5 Building Our Global Platforms

SUPER-PREMIUM CEREAL ICE CREAM

HEALTHY CONVENIENT YOGURT MEALS SNACKING

6 – Strong Cereal Performance

Value Market Share* 2012 Growth Drivers

New Products Health News 27 28 26 25 24

F07 F08 F09 F10 F11

*Source: Nielsen

7 Continued Growth for CPW

Net Sales – As Reported* 2012 Growth Drivers ($ in Millions) Core Growth New Products CGR = +6%

F07 F08 F09 F10 F11

*F07 Does Not Conform to Current Income Statement Classification

8 Cereal – Strong Prospects for Future Growth

Annual RTE Cereal Kg per Person

6.3

4.2 4.1 3.9

2.7

1.8 1.4 1.2

0.30 0.20 0.10 0.01

UK Canada U.S. Poland Russia Brazil Turkey SE Asia SWE 6% of World’s Population Source: Euromonitor 2010 Forecast

9 Häagen-Dazs

Constant Currency Sales* 2012 Growth Drivers ($ in Millions)

CGR = +7%

Shops Expansion

F07 F08 F09 F10 F11 New Platforms New Flavors

*Estimated Net Sales Converting Local Currency Data at a Fixed Exchange Rate.

10 Driving Convenient Meals Growth in 2012

Int’l Old El Paso and Wanchai Ferry 2012 Growth Drivers Constant Currency Sales* ($ in Millions) CGR = +11%

Old El Paso

F07 F08 F09 F10 F11

Wanchai Ferry

*Estimated Net Sales Converting Local Currency Data at a Fixed Exchange Rate.

11 2012 Wholesome Snack Bars

Constant Currency Sales* 2012 Growth Drivers ($ in Millions)

CGR = +14%

Nature Valley

F07 F08 F09 F10 F11 Fiber One

*Estimated Net Sales Converting Local Currency Data at a Fixed Exchange Rate.

12 Yogurt is a Growing Global Business

(Category Retail Sales, $ in Billions)

CGR = +6% $88 $82 $77 CGR = +7% $73 $69 $65 $62 $59 $55 $50 $47

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Estimates Calendar Years

Source: Euromonitor

13 Fragmented Global Yogurt Market

2010 Global Market Value Share

59

23

7 6 3 2

All Others

Source: Euromonitor

14 Leading Global Product Portfolio

15 Yoplait International Current Business Portfolio

Operator Business Key Franchise Business

Canada France UK U. S. (Yoplait)

Other Europe Canada Australia Mexico (Liberté)

Consolidating Net Sales Royalty Fees

16 Operator Business: France

France Yogurt Market Share* (Total Category = $6.3 Billion)

12% 11%

29% 37%

10%

Yoplait Nestle Private Label Other Branded

Yogurt 5th largest category in France** *IRI, 52-week Period as of 6/19/11 **Euromonitor 2010

17 Operator Business: UK

UK Yogurt Market Share* (Total Category = $3.5 Billion)

9% 16%

17%

27% 7%

24%

Yoplait Danone Nestle Muller Private Label Other Branded

Yogurt 10th largest food category in UK** *IRI, 52-week Period as of 6/19/11 **Euromonitor 2010

18 Operator Business: Canada

Canada Yogurt Market Share (Total Category = $1.2 Billion) 6% 4% 6%

30% 13%

41%

Yoplait Danone Parmalat Liberté Private Label Other Branded

Yogurt 8th largest food category in Canada Source: ACNielsen, 52 weeks ended 10/23/10

19 Franchise Businesses

Key Highlights Market Share Position

• Products Sold in Over 70 Countries #1 • Top 3 Share Position in Core Franchise Markets #2

#1

#3

Source: Euromonitor and ACNielsen

20 Future Growth Opportunity: Asia

($USD in Millions)

China Yogurt Market India Yogurt Market

China Player India Co-op Co-op 11% 17% 5% China Player China Player Danone 14% 10% 1% Nat’l Development India Co-op Board 12% 18% Nestlé7%

All Other 64% All Other 41%

2010 Sales: $4,760 2010 Sales: $370 Drinkable 3,180 Drinkable 3 Spoonable 1,580 Spoonable 368

Source: Euromonitor, Market Shares are 2009 Data

21 Per Capita Consumption Still Low

2010 Yogurt Consumption Kg per Capita 17.8

11.5 9.9 9.1 8.5

5.9 5.2 3.7 2.3

0.3 0.2

France Canada UK Australia U.S. Brazil Russia China India Indonesia

Developed Markets Emerging Markets

Source: Euromonitor

22 Fiscal 2012 International Summary

• Continuing Sales and Operating Profit Growth for Base Business – +HSD Net Sales Growth – +DD Growth in Operating Profits • Yoplait will Add Significant Net Sales and Profit • Good Growth for Cereal Partners Worldwide • Assuming Slow Business Recovery for Häagen- Dazs Japan

23 A Portfolio for Global Growth July 2011 Investor Day

24