General Mills, Inc.

Greetings and welcome to the General Mills Second Quarter Fiscal 2022 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question and answer session. At that time, if you have a question, please press the 1 followed by the 4 on your telephone. If at any time during the conference you need to reach an operator, please press star 0. As a reminder, this conference is being recorded Tuesday, December 21st, 2022. I would now like to turn the conference over to Jeff Seaman, VP of Investor Relations. Please go ahead.

Thank you, Sabah, and good morning, everyone. Thanks for joining us today for our Q&A session on second quarter results. I hope everyone had time to review our press release, listen to our prepared remarks, and view our presentation materials. are made available this morning on our Investor Relations website. It's important to note that in our Q&A session, we may make forward-looking statements that are based on management's current views and assumptions, including facts and assumptions related to the potential impact of the COVID-19 pandemic on our results in fiscal 22. Please refer to this morning's press release for factors that could impact forward-looking statements and for reconciliations of non-GAAP information, which may be discussed on today's call. I'm here with Jeff Harmony, our chairman and CEO, Kobe Bruce, our CFO, and John Doody, group president of our North America retail segment. So let's go ahead and get to the first question. Silvana, can you please get us started?

Certainly. If you would like to register a question, please press the 1 followed by the 4 on your telephone. You will hear a three-tone prompt to acknowledge your request. If your question has been answered and you would like to withdraw your registration, please press the 1 followed by the 3. If you are using a speakerphone, please lift your hands up before entering your request. One moment, please, for the first question. And our first question is from Ken Goodman with J.P. Morgan. Please proceed with your question. Close enough.