Conagra Brands : 2023 Citizenship Report

Fall Harvest Salad with Birds Eye® Microwave Roasters Butternut Squash and DAVID® Pumpkin Seeds

At Conagra Brands, innovation is at the center of all we do. That focus extends beyond making great food, it also reflects our commitment to embracing new solutions that positively impact our team, the communities we serve and the health of our planet. Our six Timeless Values of Integrity, External Focus, Broad-Mindedness, Agility, Leadership and Results not only guide our efforts to deliver long-term profitable growth and strong shareholder returns, but also shape our responsible business practices.

In fiscal year 2023, we continued to make positive strides across our four Citizenship pillars: Good Food, Responsible Sourcing, Better Planet and Stronger Communities. This framework helps us focus our efforts on the topics that are the most impactful to our business and important to our stakeholders, including our employees, customers, consumers, shareholders and communities.

Core to our business is making food that meets the evolving needs and expectations of consumers, with an unwavering focus on safety and quality throughout the manufacturing process. By expanding our digitally connected supply chain and integrating initiatives like Connected Shop Floor, we have put real-time data in the hands of our frontline employees to help quickly address any potential issues and improve quality and performance. It's this seamless integration of technology and data-driven insights that propels us forward.

Our dedication to upholding responsible supply chain practices extends well beyond the production floor. It begins at the farm, where we work closely with our growers and industry partners to advance regenerative agriculture practices that conserve water, enhance biodiversity and promote soil health. As our food makes its journey from farm to fork, we also prioritize thoughtful packaging design; approximately 93% of Conagra's packaging materials by volume were renewable, recyclable

or compostable.

In addition to advancing our responsible sourcing practices, we are actively reducing energy usage, minimizing waste, and preserving water resources across our production facilities. In fiscal year 2023, 85% of the solid waste from Conagra's facilities was diverted to more beneficial uses, including recycling, food donations, animal feed and soil improvement. Additionally, our Oakdale, California location became the second facility in our network to achieve TRUE Zero Waste certification status.

Conagra's success is a testament to the collective efforts of our remarkable team. Our eight Employee Resource Groups play a central role in fostering our inclusive culture. Throughout fiscal year 2023, these groups actively engaged thousands of employees in more than 100 events to cultivate a sense of community, promote learning and drive positive impact. I've always been humbled by our employees' desire to give back to their communities and it was evident in their more than 11,000 hours of volunteer service this year. Our longstanding partnership with Feeding America resulted in more than 30,000,000 pounds of food donated, equivalent to more than 25,000,000 meals.

As you read this year's report, I hope you'll feel the respect and gratitude for our more than 18,000 employees who create our exceptional food with a dedication to doing the right things and doing things right. Thank you for joining us on this journey.

Sean M. Connolly

President and Chief Executive Officer

At Conagra Brands, innovation is at the center of all we do. That focus extends beyond making great food, it also reflects our commitment to embracing new solutions that positively impact our team, the communities we serve and the health of our planet.

CONTENTS ABOUT CONAGRA BRANDS GOOD FOOD RESPONSIBLE SOURCING BETTER PLANET STRONGER COMMUNITIES APPENDIX

Conagra Brands at a Glance

Brands Include3

®

Beefless Rice Skillet with Gardein® Plant-Based Ground Be'f, Hunt's® Petite Diced Tomatoes and Birds Eye® Mixed Vegetables.

● Richmond

●Kent

WA

CA

●Reno

● Oakdale NV

LEGEND

• Corporate Offices
• Production Facilities

MEXICO

• Irapuato

• Mexico City

Citizenship Philosophy and Focus Areas

At Conagra, we believe that good food is much more than something we offer to our customers and consumers. It is a reflection of our values, our vision and our culture. That is why we aim to make food that is not only delicious, but also safe, nutritious, affordable, accessible, and convenient. We also recognize that food shapes the world we live in,

and the food we make is a reflection of our employees and our relationships with farmers, suppliers, customers and others. By fostering a culture of collaboration and innovation among our employees, and by building strong partnerships beyond our company, we are committed to making good food for generations to come, in a way that aligns with our values and aspirations as a responsible corporate citizen.

Our approach encompasses a wide range of topics and is guided by four focus areas: Good Food, Responsible Sourcing, Better Planet and Stronger Communities. These strategic pillars define what we aim to achieve through our Citizenship Strategy as a leader in the food industry.

See the Additional Information in the Appendix of this report to learn more about our approach to certain key focus areas.

Our Citizenship Strategy

GOOD FOOD

We are dedicated to making safe, delicious and nutritious foods that fulfill the needs of modern consumers, while providing consumers with access to the information they want and need to make informed decisions about what they eat.

RESPONSIBLE SOURCING

We approach the sourcing of ingredients and packaging materials with care and consideration. We take into account the potential environmental and social impacts of our products throughout their lifecycle and seek to support circularity through regenerative agriculture practices and thoughtful packaging design.

BETTER PLANET

We believe that responsible environmental practices are a key ingredient for a healthy business. We are focused on lessening the climate-related impacts of our business by reducing energy use, protecting and managing water resources efficiently and

minimizing or diverting waste for more beneficial uses.

GOOD FOOD

Approximately 70% of our meatless options, including those from brands like Healthy Choice,® Evol,® and Gardein,® are rated A or B by Nutri-Score, an internationally recognized metric that evaluates the nutrition of vegan and vegetarian products.

RESPONSIBLE SOURCING

BETTER PLANET

85% of the solid waste generated at all our production facilities was diverted to more beneficial uses through recycling, product donations to bolster food supplies at area food banks, use as animal feed, or land applications to improve soil quality.

STRONGER COMMUNITIES

We collaborate with growers and industry groups to advance regenerative agriculture in their supply chains. Key achievements in fiscal 2023 include:

• 100% of popcorn seeds were grown using winter cover crops, which prevent soil erosion, retain nutrients, conserve moisture and guard against soil compaction.
• In California, tomato farmers employed drip irrigation on 98% of their fields, reducing water use by nearly 15% compared to traditional furrow systems.
• We partnered with suppliers to transport raw tomatoes to our Oakdale, California production facility via Renewable Natural Gas trucks, avoiding over 18,000 metric tons of
  CO² emissions during the 2023 fresh pack season, when harvesting and production occurs.

• We donated more than 30,000,000 pounds of food to the Feeding America and its network of food banks, which is equivalent to more than 25,000,000 meals.
• Our employees volunteered more than 11,000 hours at 190 unique nonprofit agencies to combat food insecurity, improve nutrition and increase access to healthy foods.
• Our eight Employee Resource Groups (ERGs) engaged thousands of employees
  in over 100 events.

All numbers are approximate. For more information on how we calculate these estimates, please see Additional Information in the Appendix to this report.

Our Citizenship Strategy is rooted in a holistic view of what topics that have the most impact on our business stakeholders and footprint, and is influenced by our current strategic plan as well as an annual review of stakeholder dialogues. We periodically conduct a priority analysis with an eye on how our activities impact our business, stakeholders and global priorities such as the UN Sustainable Development Goals. Through this analysis, we have identified priority topics across our four strategic pillars: Better Planet, Good Food, Responsible Sourcing and Stronger Communities. See the Appendix to this report for more information about how our priorities align with the UN Sustainability Development Goals.

S I G N I F I C A N C E T O S T A K E H O L D E R S

Transportation & Logistics

Corporate Governance

The business of Conagra Brands is managed under the oversight of our Board of Directors, which is elected by our stockholders. Our Board performs its responsibilities in a manner consistent with sound governance practices. The Board has delegated certain aspects of its work to three standing committees, each of which is comprised solely of independent directors: an Audit/Finance Committee, a Human Resources Committee and a Nominating and Corporate Governance Committee. The charter for each committee can be viewed on our website, along with certain of the company's corporate governance documents, including our Code of Conduct and Corporate Governance Principles.

Citizenship Strategy

Board Oversight

The Board oversees our Citizenship Strategy across all four of our strategic pillars of Good Food, Responsible Sourcing, Better Planet and Stronger Communities, both directly and through its standing committees. The Board and its committees review our Citizenship Strategy on a regular basis and receive updates from management on our initiatives, risks and progress toward our goals. Our Nominating and Corporate Governance Committee reviews our overall Citizenship Strategy. This responsibility includes oversight of significant risks that may, in the opinion of the Committee, affect the company's reputation, business and stockholder value such as supply chain risk, environmental and climate sustainability, and community engagement. Our Human Resources Committee reviews our approach to fostering a culture of diversity and inclusion, as well as our management

of talent acquisition, employee safety, health and wellness and our corporate culture. Our Audit/Finance Committee reviews cybersecurity, regulatory and compliance risk from environmental matters (including climate change, greenhouse gas emissions and energy use) and related disclosure, in addition

to the company's overall enterprise risk management program.

The Chair of each standing committee reports to the full Board following every meeting and the full Board also receives periodic updates directly from management on many of these topics, including Food Safety, oversight of which is considered a full Board responsibility.

Sustainability Citizenship

Strategy Management

Conagra's Senior Leadership Team has executive-level oversight of all topics across the four strategic pillars of our Citizenship Strategy. Our Chief Communications Officer, Co-Chief Operating Officer and Chief Supply Chain Officer serve as executive sponsors of our Sustainability Steering Committee, a cross-functional team including leaders from our business units,

and functional leaders from legal, investor relations, R&D, demand science, procurement, operations and sales. The Sustainability Steering Committee meets biannually, with climate change, packaging waste, agriculture, water and waste forums meeting

more frequently to drive progress on initiatives.

The Senior Leadership Team provides regular reports to the Board and its standing committees on aspects of our Citizenship Strategy and how we are identifying, assessing and managing risks related to those matters.

D&I Citizenship

Strategy Management

At Conagra, management has instituted a comprehensive, business-led approach to diversity and inclusion. Our D&I Leadership Council is comprised of our full Senior Leadership Team and members of our D&I team. The Council drives accountability and execution of our initiatives while measuring and assessing our performance.

The Council meets quarterly to evaluate progress and collaborate with our three D&I Task Forces, who are represented by employees at all levels and responsible for developing multi-year strategies to nurture belonging.

Because we believe that diversity and inclusion, in alignment with our business strategy, will support the creation of long-term value for shareholders, the fiscal year 2023 annual incentive plan included supporting the company's approach to diversity and inclusion as a component of the overall performance assessment process as part of the individual performance modifier for senior leaders.

Community Investment Citizenship Strategy Management

The Conagra Brands Foundation is responsible for leading a significant portion of the community investment and philanthropic activities of Conagra Brands. Our philanthropic focus includes a strategic grantmaking program aimed at addressing food insecurity in the communities where our employees live and work. The Foundation also facilitates an employee giving program and empowers employees to direct company philanthropy toward the causes they care about through both matching gifts and a "dollars for doers" program that enables employees to direct Conagra's giving to the nonprofit organizations of their choice based on their volunteer hours. The Foundation also oversees scholarships for children of Conagra employees and an employee relief fund.

The Conagra Brands Foundation has been established as an independent entity, structured as a separate 501(c)(3) organization under the US federal tax code as a private foundation. Its bylaws establish the rules and procedures by which the Foundation operates as well as the rights and powers of its board of directors and officers. The Foundation's board of directors

are selected by our Chief Executive Officer and has oversight across the Foundation's programs.