Modified · General Development of Business

Hormel Foods Corporation, a Delaware corporation (collectively, the "Company", "we," "us," and "our"), was founded by George A. Hormel in 1891 in Austin, Minnesota, as Geo. A. Hormel & Company. The Company startedoriginated as a processor of meat and food products and continues in this line of business with emphasis on the manufacturing today. The Company has expanded its product portfolio through organic growth and distribution of acquisitions to become a global branded, value-added consumer items food company with more than $12 billion in annual revenue. The Company builds is built on its founder’s legacy a foundation of innovation, quality, and integrity with focus on its purpose statement — Inspired People. Inspired Food.TM The Company has continually expanded its and a commitment to delivering high-quality, trusted food products across a diverse portfolio of brands and product portfolio through organic growth and acquisitions. Todaysolutions including Planters®, SPAM®, Jennie-O®, Skippy®, Applegate®, the Company is a global branded food company bringing some of the most trusted and iconic Wholly®, Hormel® Black Label®, Fontanini®, Bacon1®, Hormel® pepperoni, and more than 30 other beloved brands to tables across the globe with approximately $12 billion in annual revenue generated from more than 80 countries. The Company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats.