AUSTIN, MINN. -Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, will host its 2023 Investor Day this morning at the New York Stock Exchange in New York City.

Jim Snee, chairman of the board, president and chief executive officer, and Jacinth Smiley, executive vice president and chief financial officer, will be joined by other members of the senior leadership team to provide an update on the Company's strategic evolution and present its plan to deliver earnings growth.

'We remain an uncommon global branded food company and leader in our industry,' Snee said. 'Through successful execution against our strategic priorities, we are a stronger, more balanced and less volatile company today. Over the next three years, we expect to accelerate investment, transformation and modernization initiatives, targeting meaningful earnings growth and a return to our historical earnings trajectory. Our proven strategies, inspired people and unique culture position us well to execute our plan and drive long-term value for our shareholders.'

At the 2023 Investor Day, Snee will outline updated strategic priorities that are aligned with the Company's segments and enterprise objectives. These priorities include:

Driving focus & growth in its Retail business

Expanding leadership in Foodservice

Aggressively developing its global presence

Executing the enterprise entertaining & snacking vision

Future-fitting its One Supply Chain

Continuing to transform & modernize the Company

Additional presenters at today's event include Deanna Brady, executive vice president, Retail; Scott Aakre, group vice president and chief marketing officer, Retail; Mark Ourada, group vice president, Foodservice; and Mark Coffey, group vice president, supply chain.

The Company will provide details of fiscal 2023 fourth quarter results and its fiscal 2024 outlook on its upcoming earnings call on Nov. 29, 2023.

PRESENTATION

Today's event will start at 8:30 a.m. ET and conclude around noon. To view the live webcast of the event or access the presentations, go to the Company's website, www.hormelfoods.com click on 'Investors,' and you will find a link to the webcast and presentations. Additional information related to the Company's 2023 Investor Day can be found here: investorday.hormelfoods.com. If you are unable to view the live webcast, an archived version will be available on the Company's investor website, investor.hormelfoods.com, following the presentation.

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