At General Mills, our business depends on the health and resilience of our planet and its natural resources. We take the outputs of Mother Nature and turn them into great tasting products that help feed people around the world. But we are experiencing increased frequency, intensity and duration of extreme weather events that affect global food security and impact our ability to deliver quality products to our consumers. We need to take action now to help maintain planetary health. As a global food producer, we have a responsibility to leverage our scale and influence to combat the devastating impacts of climate change — and to lead others to do so as well. Our General Mills Policy on Climate , which focuses on mitigation, adaptation, disclosure and advocacy, establishes our company’s framework to track and reduce greenhouse gas (GHG) emissions across our value chain. Collaboration: We directly control only a small portion of our value chain, so driving transformation across the entire system requires leadership and collaboration with suppliers, farmers, ingredient and packaging producers, product transport providers, retailers and consumers. Combating climate change also requires collective action across industries and our broader society. We participate in the following initiatives: n Science Based Targets initiative (SBTi) n Business Ambition for 1.5°C n We Mean Business n We Are All In pledge n UN Caring for Climate Declaration n Business for Nature’s Call to Action n Climate Collaborative n Project Drawdown Science-based goal: General Mills was the first company to publish a full value chain goal approved by the SBTi, in 2015. During 2020, we launched a new climate goal to drive further progress, in alignment with the SBTi 1.5°C guidance. General Mills will reduce absolute GHG emissions across our full value chain* by 30% by 2030 (compared to 2020). By 2050, we will achieve net zero GHG emissions across our full value chain. Fiscal 2021 progress: In fiscal 2021, our absolute GHG emissions footprint increased 2% compared to our fiscal 2020 baseline. This reflects business growth during the year as General Mills increased production to make food the world needed during the pandemic and company-wide net sales increased 3%. Almost all parts of our value chain saw an increase in emissions (see value chain breakdown on next page). See the Appendix for additional details on our GHG emissions and calculation methodology. Looking ahead: Recognizing the need to accelerate our progress in reducing emissions, General Mills is working to advance our internal carbon focus from footprint accounting to decarbonization strategies and execution. We are starting to staff internal teams to build internal glidepaths for carbon reduction and investing in external support to bring in capabilities of carbon abatement, quantification, and training. We also have work in process to begin engaging with suppliers in key categories to encourage them on their decarbonization journey, including setting targets and developing carbon abatement strategies. Climate change The path to 2050 2020 2030 2050 0 15 10 5 13.9 13.5 9.4 13.3 9.0 2021 0 0.6 0.7 0.4 12.8 Million metric tons CO 2 e Total General Mills Scope 1 + 2 (market-based) Scope 3 *Consistent with Science Based Target Initiative (SBTi) guidelines, our goal focuses on the categories of GHG emissions that are the most impactful and actionable for General Mills (approximately 77% of our total value chain footprint in FY21). It excludes emissions such as low-volume ingredients, capital goods, employee commuting, franchises, downstream warehouse and storage at retail, consumer trips to store and end of life (consumer food waste). GHG emissions: goal and progress 2030 SBTi target 2020 baseline* 2021 results* % change Total General Mills -30% 13.5 13.9 +2% Scope 1 + 2 (market- based)** -42% 0.7 0.6 -25% Scope 3 -30% 12.8 13.3 +4% *Emissions noted in million MT CO 2 e **Market-based Scope 2 reporting considers any contractual instruments that may be used in competitive energy markets, such as green tariffs, renewable certificates, or PPAs. GENERAL MILLS GLOBAL RESPONSIBILITY 22 Food Planet People Community