1. CONFIDENTIAL. This document contains trade secret information. Disclosure, use or reproduction outside Cargill and inside Cargill, to or by those employees who do not have a need to know is prohibited except as authorized by Cargill In writing. (Copyright Cargill, Incorporated 2011. All rights reserved.) Agribusiness and Land Acquisition in Brazil JP Morgan – Brazil Chamber of Commerce Sergio Rial - Cargill, Inc. January 19, 2011 – New York 1 SRBrazilCOCNewYorkJan2011

2. Confidential - Highly Restricted Cargill at a Glance Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, our privately held company employs 131,000 people in 66 countries. We help customers succeed through collaboration and innovation, and are committed to sharing our global knowledge and experience to help meet economic, environmental and social challenges. Customers We Serve Agriculture We buy, process and distribute grain, oilseeds and other commodities to makers of food and animal nutrition products. We also provide crop and livestock producers with products and services. Food We provide food and beverage manufacturers, foodservices companies and retailers with high- quality ingredients, meat and poultry products, and health-promoting ingredients and ingredient systems. Financial We provide our agricultural, food, financial and energy customers around the world with risk management and financial solutions. Industrial Cargill serves industrial users of energy, salt, starch and steel products. We also develop and market sustainable products made from agricultural feedstocks. Financial highlights Sales and other revenues Net earnings Cash flow from operations $107,882 $ 2,603 $ 4,630 $115,059 $ 3,334 $ 6,679 20102009Dollars in millions 2 SRBrazilCOCNewYorkJan2011

3. Confidential - Highly Restricted “By the year 2010 Cargill will be the recognized global leader in providing agrifood chain customers with solutions that enable them to succeed in their businesses.” SI 2010 “By 2015, Cargill will be the partner of choice, recognized as having great people with imagination committed to delivering the best ideas to the worlds we serve: ag, food and risk management.” SI 2015 Since 1999, Cargill has been following a bold and sweeping strategic change agenda 3 SRBrazilCOCNewYorkJan2011

4. Confidential - Highly Restricted Cargill has been in Brazil for 45 years… 4 Cargill has a significant presence in Brazil $8.5 billion in net sales in FY10 Second largest company in the agribusiness sector One of Brazil’s top exporters Cargill has 6,100 employees in Brazil Cargill ranks with the best employers in Brazil since 2000 (Exame and Você S/A) Starches and Sweeteners Sugar Cocoa and Chocolate Foods Industrial Oils & Lubricants GOSC Crushing Plants GOSC Terminals Warehoused/Transshipment SRBrazilCOCNewYorkJan2011

5. Confidential - Highly Restricted Cargill has grown its business in Brazil over the past 30 years in good times and bad 5 Cumulative Cash Flow – 1980 to 2010 (U.S. $ millions) SRBrazilCOCNewYorkJan2011

6. Confidential - Highly Restricted Brazil’s global commodity footprint 6 Source: IMF, The Economist, CIA Factbook, USDA, 2010 SRBrazilCOCNewYorkJan2011

7. Confidential – Highly Restricted 7 Brazil is rich in natural resources: –220 million acres in available arable land (without deforesting) –Large fresh water reserves –Attractive climate for agriculture (temperatures, rain pattern, insolation) –Iron ore, oil, bauxite reserves Strengthening stability: –Social: Reduction in poverty and social inequality –Political: Stable Democracy reestablished in 1985 –Economic: Inflation under control, improving debt ratings (investment grade by S&P, Fitch, Moody’s), and growing reserves (US$ 260 billion) Agribusiness in Brazil is growing swiftly (currently represents 25% of the GDP and 37% of the Brazilian exports) Peaceful relationship with neighboring countries: provides stability and does not drain resources from the society Absence of significant social or religious conflicts Favorable conditions for the future

8. Confidential – Highly Restricted Increasing importance of the domestic market 8 Largest population in South America (and 5 th in world) – 199 million people –84.5% urban –15.5% rural 7th largest consumer products market in the world Growing middle-class has been consistently boosting consumer spending

9. Confidential - Highly Restricted Brazilian agriculture brings enormous promise, but with it challenges 9 SRBrazilCOCNewYorkJan2011 Source: The Economist Brazil has more spare farmland than any country in the world… …but challenges like poor infrastructure could temper this potential

10. Confidential – Highly Restricted 10 Stronger Brazilian Real exchange rate reduces the current competitiveness of exports Growing environmental sustainability concerns A complex tax system increases cost of doing business in Brazil: –Over 60 taxes and constant change on legislation (1.5 changes each hour) –Complex legislation with diverse effects on Cargill business –Scenario political/economical/legal favorable for litigation claims Additional future challenges