Conagra Brands, Inc. · NYSE:CAG

Conagra Brands — Conagra Foods — Citi 2012 Global Consumer Conference

10 slides from Conagra Brands's conference presentation, May 24, 2012

1. Slide 1: Citi 2012 Global Consumer Conference

   1 Citi 2012 Global Consumer Conference Exhibit 99.1

2. Slide 2: Note on forward-looking statements

   Note on forward-looking statements 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current views and assumptions of future events and financial performance and are subject t

3. Slide 3: Company overview

   Company overview 3 FY12 Operating Cash Flow FY12 Debt/EBITDA** $1.3 billion* (est.) 2X (est.) Current Annualized Dividend: $0.96 / share Current Dividend Yield: 3.5% 35% 65% Consumer Foods Commercial Foods Fiscal 2012 sales: Approaching $13 billion (est.) *Excludes any FY12 discretionary pension con

4. Slide 4: Our journey: entering phase 2

   Our journey: entering phase 2 Phase 1 Operational progress Organizational wiring Culture Cost structure Marketing and innovation Balance sheet Portfolio Phase 2 Leverage strong foundation Our Recipe for Growth 4 • – • • • • • • • – –

5. Slide 5: 5

   5

6. Slide 6: Customer Connect

   Adopting best-in-class pricing and trade practices Driving category growth Developing win-win multi-year joint business plans Presenting ONE ConAgra Foods voice Customer Connect Establishing customer P&Ls as key measurement 6 • • • • •

7. Slide 7: Financial priorities

   Financial priorities Strong earnings and cash flows Healthy balance sheet and strong liquidity High-return capital allocation with top-tier dividend 7 1. 2. 3.

8. Slide 8: Capital allocation: M&A process guidelines

   Capital allocation: M&A process guidelines Category upside / position within category Customer need / relationships Potential for ConAgra Foods to improve through: Innovation Supply chain Distribution Operating leverage/scale Organic sales growth potential Margin structure EPS contribution ROIC Stra

9. Slide 9: Long-term goals

   Long-term goals Sales growth of 3% annually EPS* growth of 6-8% annually Margin improvement Operating leverage Capital allocation ROIC* of 13-14% *EPS and ROIC guidance discussed in this presentation has been adjusted for items impacting comparability. EPS guidance is based on diluted EPS, adjusted

10. Slide 10: Citi 2012 Global Consumer Conference

    10 Citi 2012 Global Consumer Conference

Conagra Foods — Citi 2012 Global Consumer Conference on 6ix