GENERAL MILLS OVERVIEW

Nourishing lives around the world. U.S. Retail U.S. RETAIL Net Sales: $10.6 billion – Fiscal 2014 Meals 14% Big G Cereals 22% Representing the largest part of our net sales – Frozen Foods 15% Snacks 17% $10.6 billion in fiscal 2014 – we divided U.S. Yoplait USA 12% Baking Products 17% Retail into seven business segments. Small Planet Foods 3%

Big G Cereals $2.3 billion Baking Products $1.8 billion Our breakfast lineup features several iconic brands, Our baking products – including Betty Crocker, including Cheerios, Wheaties, Cinnamon Toast Pillsbury, Immaculate Bakery, Bisquick and Gold Crunch, Lucky Charms and Fiber One. Medal flour – help make every day special.

Snacks $1.8 billion Frozen Foods $1.5 billion Grain snacks, fruit snacks and salty snacks. We’ve We make meal times special with frozen products such as got them all, with well-loved brands such as Nature Green Giant vegetables, Totino’s Party Pizzas, Wanchai Ferry Valley, Fiber One, Chex Mix and Betty Crocker. dinners and Pillsbury Toaster Strudel. Through Old El Paso, Mexican flavors have a home in the freezer case, too.

Meals $1.4 billion Yoplait USA $1.3 billion Our convenient dinners provide choices for everyone, Yoplait provides consumers with many ways to enjoy including Hamburger Helper and Old El Paso dinner yogurt, from Yoplait Original to Light, from Greek 100 kits; Betty Crocker side dishes; and Progresso soups. to Go-Gurt. All provide convenience and taste.

Small Planet Foods $348 million We’re a leader in natural and organic foods. Our Small Planet Foods brands include Cascadian Farm, Muir Glen, Lärabar and Food Should Taste Good. International INTERNATIONAL Net Sales: $5.4 billion – Fiscal 2014 Our sales from wholly owned businesses Asia/Pacific 18% Europe 41% outside the U.S. represented more than Canada 22% 30 percent of sales in fiscal 2014. Latin America 19%

Häagen-Dazs, Yoplait, Old El group posted record sales in Joint Ventures $1.3 billion Paso, Nature Valley, Cheerios, 2014. The heightened revenue Green Giant, Pillsbury, Betty has been fueled by existing We participate in two international joint ventures: Cereal Crocker and Wanchai Ferry. businesses as well as acquisitions. Partners Worldwide and Häagen-Dazs Japan. Our proportionate These global brands increasingly share of these sales was $1.3 billion in fiscal 2014. In fiscal 2012, we acquired a are found in homes around the controlling interest in French- Cereal Partners Worldwide: CPW is a 50-50 partnership world, reflecting our dedication based Yoplait, setting the stage with Nestlé that markets breakfast cereals in 140 countries. to quality and great taste. for expansion of the popular It accounts for 84 percent of our joint venture sales. In addition to global brands, yogurt brand around the world. Häagen-Dazs Japan: This partnership operates our ice we also market several local A year later, we completed cream business in Japan and represents 16 percent of our brands, such as Latina pasta the purchase of Brazilian food joint venture sales. in Australia, La Salteña pastas maker Yoki in a move that more and tapas in Argentina, and than doubled General Mills’ Jus-Rol pastry in the U.K. annual sales in Latin America. Established in 1960, Yoki holds Europe continues to be our leading market positions in largest market, followed by our several food categories, including long-established operations in snacks, convenient meals, Canada. Today, Latin America basic foods and seasonings. is our fastest-growing region. Reflecting the rapid growth of JOINT VENTURES Net Sales: $1.3 billion* – Fiscal 2014 recent years, our International

Cereal Partners Häagen-Dazs Japan 16% Worldwide 84%

*Not consolidated, proportionate share

Convenience CONVENIENCE & FOODSERVICE** Net Sales by brand type Branded to foodservice Unbranded 14% & Foodservice operators 55% Branded to Convenience & Foodservice is a $2 billion **As reported consumers 31% business that reaches millions of consumers each day through multiple channels.

The General Mills Convenience & Foodservice group provides a wide array of products to convenience stores and foodservice operators, including health care facilities, schools, restaurants, and colleges and universities. The division’s six key platforms are cereal, yogurt, frozen breakfast, snacks, biscuits and baking mixes. Trusted brands the world over Our brands are known around the world for quality, starting with GLOBAL NET SALES: $17.9 billion* Gold Medal flour, which was launched in 1880 and to this day Fiscal 2014 remains the No. 1 selling branded flour in the United States. Several of our other brands also occupy the No. 1 or No. 2 market positions – from Pillsbury refrigerated dough to Green Giant frozen vegetables, U.S. Retail $10.6 billion and from Cheerios cereal to Betty Crocker dessert mixes. We’re one of the largest food companies in the world, marketing in more than 100 countries on six continents. About half of International $5.4 billion our 43,000 employees work outside the United States. In fiscal 2014, our global net sales were $17.9 billion. We Bakeries & Foodservice $1.9 billion categorize sales into three core business segments: U.S. Retail, International, and Convenience & Foodservice. *Consolidated net sales, excludes joint ventures.

Today, General Mills will provide: n 60 million servings of whole grain cereal n 5 million servings of Yoki popcorn n 27 million servings of Yoplait dairy products n 2 million Wanchai Ferry dumplings n 12 million Nature Valley bars n 2 million pounds of Green Giant vegetables n 5 million Pillsbury cookies n 1 million servings of Häagen-Dazs ice cream

A broad portfolio satisfies consumers around the world. A box of Cheerios sits on in India or a bowl of Fibre throughout America. It’s an the kitchen table. A cup of One cereal in Canada. Old El Paso Mexican meal Yoplait yogurt rests on the in France and a Brazilian What’s for lunch? In China it’s refrigerator shelf, and the barbecue served with a quick meal of Wanchai Ferry sweet aroma of Pillsbury Yoki’s farofa on the side. dumplings, while in the U.S., it’s Cinnamon Rolls fills the room. a hot bowl of Progresso soup An after-dinner or special It’s breakfast time in the U.S. and an afternoon snack of Food occasion treat is the perfect Throughout the day – and Should Taste Good chips. way to end the day. It’s a throughout the world – scoop of Häagen-Dazs ice The dinner hour presents many consumers turn to cream in dozens of countries, General Mills choices. It’s lasagna made with General Mills products. including Japan, Indonesia Number One General Mills Boulevard Muir Glen organic tomatoes, and Spain. And it’s a Betty Minneapolis, MN 55426-1347 The day may start with served with a side of Green Crocker cake in Australia, frozen pancakes in Mexico, Giant green beans and a loaf Saudi Arabia and Taiwan. ©2014 General Mills Nature Valley granola bars of Pillsbury bread in homes