Kellogg Company November 20, 2015

1

Kellogg North America Leadership Team

Kris CharlesVice President,

Global Communications& Philanthropy

Margaret BathSenior Vice President,Research, Quality &

Technology

Paul NormanPresident,

North America

Brian RiceSenior Vice President,

Kellogg CompanyChief Information Officer

Marty CarrollSenior Vice President,

North America Supply Chain

Lyn FrantzVice President,

KNA Human Resources

Carol StewartPresident,

Canada

Andrew LoucksPresident,

U.S. Frozen Foods

Larry BruckVice President,

Global Marketing

David DenholmChief Executive Officer,

Kashi

Craig BahnerPresident,

U.S. Morning Foods

Wendy DavidsonPresident,

U.S. Specialty Channels

Ozan DokmeciogluChief Financial Officer,Kellogg North America

Deanie ElsnerPresident,U.S. Snacks

Scott SalmonChief Customer Officer

KUSA Sales

North America | 2Kellogg Company | November 20, 2015

Kellogg Company November 20, 2015

2

Kellogg North America

SnacksMorning Foods

Specialty

FrozenCanada

Kashi

Category Share Position(a)

RTECToaster PastriesCrackersCookiesWholesome SnacksFrozen WafflesFrozen Veggie

#1#1#2#2#2#1#1

(a) A.C. Nielsen, xAOC, YTD 2015 through 10/3/15

North America | 3Kellogg Company | November 20, 2015

A diverse portfolio / strong category-leading positions

Evolving Consumer and Customer Landscape

Taste Is King Health, Wellness, and Transparency

Food Anytime / Anywhere

Millennials – Variety Seekers

New Science of Marketing

Blended Retail Reality

North America | 4Kellogg Company | November 20, 2015

Kellogg Company November 20, 2015

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Opportunities to Grow

Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015

Special K $ Sales % Chg vs YA

TTL Special K Red Berries

Red Berries +7.3% in Q3

Source: AC Nielsen, consumption through week ending 10/3/15

North America | 5Kellogg Company | November 20, 2015

Taste is King Health, Wellness, and Transparency

Opportunities to Grow

Froot Loops 195 index(b)

versus category in Millennial households with kids

% Single Serve / Snacks Sales(a)

(a) A.C. Nielsen, xAOC+Convenience, year-to-date through 10/3/2015(b) Nielsen Homescan, 52 weeks ending 9/5/15

0%

5%

10%

15%

20%

25%

Kellogg Competitor A Competitor B

North America | 6Kellogg Company | November 20, 2015

Millenials – Variety SeekersFood Anytime / Anywhere

Kellogg Company November 20, 2015

4

New Ways to Engage and Buy

2012 2016E

76%

9%

48% 46%

U.S. Snacks Media % Split TV vs. Digital(b)

Accelerating Sales and Share Growth in High Growth Channels(a)

(a) Nielsen YTD 10/14/15, (Dollar, Drug, Club, Convenience)(b) Internal data and estimate

Category Kellogg

147 index TVDigital

North America | 7Kellogg Company | November 20, 2015

Blended Retail Reality New Science of Marketing

Brands for today’s consumer

Investment sufficiency

Through better execution, baseline trends are improving across our largest brands (RTEC Core 6, Cheez-It, Pringles, Kashi)

Get back to…

Kellogg North America

… Profitable Growth

North America | 8Kellogg Company | November 20, 2015

Kellogg Company November 20, 2015

5

Kellogg North America – 2020 Growth Plan

Enable the Growth

Grow Sales and Share | OP Margin Expansion | Grow Free Cash Flow

Transform SnacksWin in Breakfast Build a Next Generation Natural Business

Win Where The Shopper Shops

Our VisionEnrich and delight the world

through foods and brands that matter

Our PurposeNourishing families so they can flourish and thrive

Fuel for Growth

Culture for Growth/High-Performing Team

Accelerate Frozen

North America | 9Kellogg Company | November 20, 2015

Win in Breakfast

Core brands firing on all cylinders

Invest in our foods

Drive fun and engagement

Accelerate out-of-breakfast consumption

North America | 10Kellogg Company | November 20, 2015

Kellogg Company November 20, 2015

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Transform Snacks

Invest to accelerate growth behind our advantaged brands

Unlock “On-the-Go” potential

Expand Channels

North America | 11Kellogg Company | November 20, 2015

Accelerate Frozen

Continue to drive Eggo

Differentiate and scale Savory

Transform “Veggie”

North America | 12Kellogg Company | November 20, 2015

Kellogg Company November 20, 2015

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Build a Next Generation Natural Business

Return Kashi to growth in 2016

Lead in plant-based nutrition

Win with “food forward” consumers

North America | 13Kellogg Company | November 20, 2015

Growth Enablers

Brand Engagement for Tomorrow’s Consumer

Agile / ReliableSupply Chain

Talent Management

Preferred Foods and Packaging

North America | 14Kellogg Company | November 20, 2015

Preferred Foods and Packaging

Brand Engagement for Tomorrow’s

Consumer

Agile / Reliable Supply Chain Talent Management

Kellogg Company November 20, 2015

8

Fuel for “Profitable” Growth

Manage for Cash

Project K

Ongoing Productivity

North America | 15Kellogg Company | November 20, 2015

Reinvestment Opportunities (ZBB)

Innovation / Renovation acceleration

Brand activation

On-the-go formats

Channel activation

Capabilities

North America | 16Kellogg Company | November 20, 2015

Kellogg Company November 20, 2015

9

North America – Summary

Strong team

Brands for today’s consumer

Investment sufficiency

Improving baseline momentum

Committed to profitable growth — Sales growth— Operating-margin expansion— Strong cash flow

North America | 17Kellogg Company | November 20, 2015