About This Report - Hormel Foods Corporate Responsibility Report

Our progress is measured not only in the dollars we make, but also in the lives we touch and the communities we lift.

For the last 16 years, we have been proud to share our corporate responsibility efforts and achievements. Our 2021 report has been developed in collaboration with the Hormel Foods Corporate Responsibility Council and other company experts, and was reviewed and approved by the council, experts and the respective vice presidents who oversee relevant topics.

Our 2021 Global Impact Report is an annual report designed to provide useful information for our stakeholders, who include employees, customers, consumers, investors, suppliers, nongovernmental organizations, government agencies and communities. It follows the GRI Standards established by the Global Reporting Initiative (GRI) and covers data from fiscal year 2021, unless otherwise noted. All other boundary-related information for this report can be found in the boundary and measurement section. Our previous reports covered fiscal years 2006 to 2020.

Forward-looking Statements

This report contains “forward-looking statements” within the meaning of the federal securities laws. The forward-looking statements may concern the company’s goals, strategies or other expressions regarding matters that are not historical facts. These statements are typically accompanied by the words “plans,” “intends,” “expects,” “may,” “could,” “believes,” “would,” “might,” “anticipates” or similar terms. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including the risk that we will be unable to achieve our goals or execute our strategies because of market, competitive or other conditions. Please refer to the cautionary statements regarding “Risk Factors” and “Forward-Looking Statements” that appear in our most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q, which can be accessed at hormelfoods.com in the “Investors” section, for additional information. Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update any forward-looking statements.

Materiality

We are reporting against our material topics, or key topics, identified through our internal assessment and stakeholder engagement. For purposes of this report, we use the GRI’s definition of materiality, which is different from the definition used for filings with the Securities and Exchange Commission (SEC). The inclusion of information in this report should not be construed as a characterization regarding the materiality or financial impact of that information for SEC reporting purposes.

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Forward-looking Statements

Materiality

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