General Mills (GIS) investor relations material

Opening remarks and agenda

• Meeting called to order with quorum present and introductions of board members and senior leadership, including those standing for election and recognition of outgoing director.

Financial performance review

• Fiscal 2026 ended positively, meeting Q4 expectations with improved volume, household penetration, and innovation.

• Despite challenges from slower category growth and a tough consumer environment, progress was made in share performance and international profit growth.

• Significant investments were made to improve consumer value, including price reductions on two-thirds of the North America retail portfolio.

• Divestitures of U.S. yogurt, Brazil, and China Häagen-Dazs businesses sharpened focus on core growth areas.

• Industry-leading cost savings achieved through holistic margin management (HMM) and transformation initiatives.

Strategic initiatives and plans

• Targeting $3 billion in cost savings between fiscal 2027 and 2030 via HMM, transformation, and supply chain redesign.

• Fiscal 2027 priorities: strengthen organic sales growth, drive efficiency, and maintain disciplined capital allocation.

• Focus on innovation and renovation, with new products like Honey Nut Cheerios protein cereal and Blue Buffalo Love Made Fresh dog food.

• Enhanced use of digital tools and AI for supply chain optimization and product innovation.