Company Reaffirms Long-term Growth Targets and Fiscal 2026 Financial Outlook

General Mills, Inc. (NYSE: GIS) executives today provided investors and analysts an update on its strategic priorities and plans to accelerate growth at its Investor Day at the company’s world headquarters in Minneapolis. Chairman and Chief Executive Officer Jeff Harmening, Chief Financial Officer Kofi Bruce, and other General Mills executives outlined the company’s key growth initiatives focused on driving remarkability across its global brands. As part of its prepared remarks, General Mills reaffirmed its long-term growth targets and its full-year fiscal 2026 financial outlook.

“Since the launch of the Accelerate strategy, General Mills has undergone a significant transformation,” said Jeff Harmening, chairman and CEO, General Mills. “We’ve actively reshaped almost one third of our portfolio, established leading-edge digital capabilities, invested to strengthen the remarkability of our brands, and made meaningful progress against our people and planetary commitments.

“We’ve navigated tremendous volatility in the operating environment over the past five years, and with our strong foundation, we’re well equipped to keep adapting to a changing marketplace and driving growth,” Harmening continued. “I’m confident that the combination of our leading brands, differentiated capabilities, and world-class people will enable us to deliver on our long-term goals and generate top-tier returns for our shareholders.”

At the Investor Day event, the company’s leaders:

• Highlighted the bold choices General Mills is making to deliver remarkable experiences for consumers across the total product offering, including product, packaging, brand communication, omnichannel execution, and consumer value.
• Demonstrated how the company’s investments in best-in-class digital and technology capabilities are generating improved growth, efficiency, and agility across the enterprise.
• Showcased the consumer-centric innovations and key growth-driving initiatives across its four business segments: North America Retail, North America Pet, International and North America Foodservice.
• Outlined the company’s plans to continue driving shareholder value through four key levers: sustainable sales growth, margin expansion, free cash flow conversion, and cash returns to shareholders via dividends and share repurchases.

Details on the company’s long-term growth targets and fiscal 2026 financial outlook can be found in the webcasted presentation and the supplemental materials provided for the 2025 Investor Day at www.generalmills.com/investors. Interested parties can watch the live video webcast and Q&A with senior management today starting at 8:30 a.m. CT, or view a replay of the event, at the above link.

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About General Mills

General Mills makes food the world loves. The company is guided by its Accelerate strategy to boldly build its brands, relentlessly innovate, unleash its scale and stand for good. Its portfolio of beloved brands includes household names like Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Totino’s, Annie’s, Wanchai Ferry, Yoki and more. General Mills generated fiscal 2025 net sales of U.S. $19 billion. In addition, the company’s share of non-consolidated joint venture net sales totaled U.S. $1 billion. For more information, visit www.generalmills.com.

Note on Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations and assumptions. These forward-looking statements including the statements made by Mr. Harmening, are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. In particular, our predictions about future net sales and earnings could be affected by a variety of factors, including: imposed and threatened tariffs by the United States and its trading partners; disruptions or inefficiencies in the supply chain; competitive dynamics in the consumer foods industry and the markets for our products, including new product introductions, advertising activities, pricing actions, and promotional activities of our competitors; economic conditions, including changes in inflation rates, interest rates, tax rates, tariffs, or the availability of capital; product development and innovation; consumer acceptance of new products and product improvements; consumer reaction to pricing actions and changes in promotion levels; acquisitions or dispositions of businesses or assets; changes in capital structure; changes in the legal and regulatory environment, including tax legislation, labeling and advertising regulations, and litigation; impairments in the carrying value of goodwill, other intangible assets, or other long-lived assets, or changes in the useful lives of other intangible assets; changes in accounting standards and the impact of critical accounting estimates; product quality and safety issues, including recalls and product liability; changes in consumer demand for our products; effectiveness of advertising, marketing, and promotional programs; changes in consumer behavior, trends, and preferences, including weight loss trends; consumer perception of health-related issues, including obesity; consolidation in the retail environment; changes in purchasing and inventory levels of significant customers; fluctuations in the cost and availability of supply chain resources, including raw materials, packaging, energy, and transportation; effectiveness of restructuring and cost saving initiatives; volatility in the market value of derivatives used to manage price risk for certain commodities; benefit plan expenses due to changes in plan asset values and discount rates used to determine plan liabilities; failure or breach of our information technology systems; foreign economic conditions, including currency rate fluctuations; and political unrest in foreign markets and economic uncertainty due to terrorism or war. The company undertakes no obligation to publicly revise any forward-looking statement to reflect any future events or circumstances.

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