Ardent Mills begins operations

May 30, 2014, Denver – Yesterday marked the first day of
business for Ardent Mills, a flour-milling company that combines the operations
of ConAgra Mills and Horizon Milling, a Cargill-CHS joint venture.

"This is a proud day for our employees and customers
who have supported Ardent Mills during every step in this process as we begin a
new era in grain," said Dan Dye, CEO of Ardent Mills in a media statement
issued May 29. "Today is about many parts coming together to make a new
and stronger whole. It's about a collective strength, history and ability to
deliver quality and nutritious ingredients and carry that legacy into the
future."

Ardent Mills will operate as an independent joint venture of
its three parent companies, Omaha, Neb.-based ConAgra Foods, Minneapolis,
Minn.-based Cargill and St. Paul, Minn.-based CHS. The company will maximize
the combined assets, capabilities and experience of its parent companies to
bring innovative flour and grain products, services and solutions to the
marketplace. 

Ardent Mills' headquarters will be in the downtown Denver
area. The new company is expected to have a presence in the Denver area
starting later this year.

In addition to its Denver-area headquarters, Ardent Mills
operates satellite offices in Omaha, Neb., and Minneapolis, Minn. ConAgra Foods
and Cargill each own a 44 percent stake in Ardent Mills, with CHS owning a 12
percent interest. All three companies have representatives on Ardent Mills'
board of directors.