HORMEL FOODS

Jeff Ettinger, Chairman, President & CEO

Hormel Foods Overview

• Global, $8 billion company with headquarters in Austin, Minnesota

• More than 19,800 employees• Purchase over 3 million hogs per year

from Minnesota family farms

Deep Supply Chains in Pork and Turkey

Packaged Foods

Balanced Model

Financially Conservative

Retail

Protein

Purchase Everything Else

Innovative Culture

Foodservice

Leading Brands

At least 34 products have #1 or #2 market share positions in their category

• These categories span our Grocery Products, Meat Products and Jennie-O Turkey Store segments

Major Agricultural Presence – Jennie-O Turkey Store

What started with two young entrepreneurs has turned into one of the world’s largest turkey processors – processing over 1.2 billion pounds on an annual basis

Wallace Jerome Earl Olson

Founding Fathers

Corn / Soy Purchases

Detroit Lakes

Jennie-O Turkey Store Hatcheries

Barron

Henning

Perham

HenningSwanville

Atwater

Dawson NorthfieldFaribault

Jennie-O Turkey Store Feed Mills

Barron

Jennie-O Turkey Store Company Owned Farms

Over 200 turkey farms

Responsible Growing

Pine Hill - Clear Lake, WI

Total Value-Added Sales

In millions

5 Year Compounded Annual Growth Rate = 7%

Biggest Loser Make the Switch

Commercials

• Exports have increased over time

• Export revenue increased 25% in the past 2 years

• Key new markets include…• Africa• China• Dominican Republic• Philippines• Middle East

Jennie-O Turkey Store Exports

1,000 metric tons million U.S. dollars

Turkey Distribution in West Africa

(In volume)

Pork Exports

U.S. Pork Exports HFIC Pork ExportsJanuary – March 2013 January – March 2013

Mexico and Central America

3%

South Korea26%

China / HK51%

Taiwan3%

Philippines4%

Japan13%

China / HK19%

South Korea7%

Mexico 26%

Japan21%

Australia3%

Philippines2%

Canada11%

Others8%

Taiwan3%

Hormel Foods InternationalDelivering Accelerated Growth

Compounded Annual Growth Rate = 11%

Growth Rate = 19%

Revenues Revenues

In millions In millions

Global Business Partners

We invested in China more than 15 years ago…

Hormel China Revenue Growth

Compounded Annual Growth Rate = 18%

China Strategic Mission

MISSION: Hormel China has a business model focusing on foodservice and retail portfolios.

Foodservice Expansion

ExpandAmbient

FocusRefrigerated

Retail

Canada $20 million

China $30 million

China Exports $18 million

$95 million

Global SKIPPY® Net Sales

Shanghai Hormel Foods Company, Ltd.

More than 1,100 employees

Beijing Hormel Foods Company, Ltd. Weifang Plant

Hormel Operations in China

Our Legacy of Corporate Responsibility

• George A. Hormel and his vision• Operating responsibly• Taking care of our people,

our communities• Jay C. Hormel and profit sharing• Hormel Foundation• Hormel Institute

• What is Step Up?• A nationally-recognized model for youth

workforce development and mentoring, initiated in 2002 by Minneapolis Mayor RT Rybak, chaired in 2013 by Richard Davis, CEO US Bank.

• Why?• To provide low-income high school juniors in

Austin a paid professional work experience that might not otherwise be available to them.

• How did we partner with Austin and Pacelli High Schools?• Targeted high school juniors who met

qualifying criteria (GPA, income).• Application process, work readiness

training, interviews, mentoring, feedback, coaching, metrics.

Step Up Program Highlights

• Where would the students work?• Various functional areas at Hormel Foods

(R&D, HR, IT, Plant, Ops, Consumer Insights).

• Dates of the program?• June 17th - August 9th (20-30 hours per week).

Immigration Reform

Corporate Responsibility Recognition

• G.I. Jobs• CR Magazine’s 100 Best Corporate Citizens• Green Plant of the Year-Progressive Processing• Other Initiatives

• Plant community donations

Corporate Responsibility Recognition

• G.I. Jobs• CR Magazine’s 100 Best Corporate Citizens• Green Plant of the Year-Progressive Processing• Other awards

• Plant community donations• Project SPAMMY™

Closing

• Minnesota Agri-Growth participants are vital to the future of feeding the world

• The work you do is extremely important; together we can make a difference