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Kraft Foods

Sanford Bernstein Strategic Decisions Conference

June 3, 2010

Forward-looking statements

This document contains a number of forward-looking statements. Words, and variations of words such as "expect," "goals," "plans," "believe," continue," "may," "will," and similar expressions are intended to identify our forward-looking statements including, but not limited to, statements that we exited 2009 with good operating and financial momentum; we’ve positioned our base business to benefit from a virtuous cycle, including managing input costs by maintaining strong brand equities, focus and prioritize investments to drive volume/mix gains, leverage scale to drive productivity and reduce overhead costs, reinvest to drive future growth and set growth objectives off a solid base; we took actions to position our portfolio for top-tier performance; the new Kraft Foods is now geared to deliver accelerated growth, in particular, to step up organic revenue growth we will focus on growth categories, expand our footprint in developing markets, increase our presence in growing trade channels and for profit margin expansion, we will leverage our scale and improve our portfolio mix; that our highly complementary footprint will grow our brands in key developing markets; that we will benefit from complementary strengths in sales and distribution; that we will leverage our position as the global sweet snacks leader; that our organic revenue growth will accelerate as we integrate, through significant revenue synergies, focusing investments on growth categories, increasing footprint in developing markets, and expanding presence in growing trade channels; we have a strong pipeline of cost-savings initiatives that will accelerate margin expansion by resetting overhead costs; our expected average annual spend; that we expect to deliver at least $675 million of pre-tax cost savings from integration; that our upfront spending will be followed by substantial cost savings in...