Driving Sustainable Growth

As one of the best-performing companies in the packaged foods industry, Heinz is focused on driving sustainable growth that benefits our stakeholders.

Fiscal Year 2011 – Growth and Performance Summary

Net-IncomeFY10vs

In Fiscal Year 2011, Heinz delivered record sales, net income and operating free cash flow¹ while completing key acquisitions in Brazil and China to accelerate our dynamic growth in Emerging Markets.

Heinz achieved:

Record sales of $10.7 billion, propelled by 12% sales growth in Emerging Markets as well as growth in our Top 15 brands and global ketchup
Record net income of $990 million, an increase of more than 14% from the previous year
Record operating free cash flow of $1.26 billion

Earnings per share from continuing operations grew nearly 7% to $3.06. Reflecting our focus on productivity and operating discipline, Heinz also delivered continued gross margin improvement and a return on invested capital of 19.3%.

Heinz 2011 Annual Report

FY11-Return-on-Invested-Capital

Fiscal Year 2010 – Growth and Performance Summary

In Fiscal Year 2010, Heinz grew sales 4.8% to a then-record $10.5 billion, led by double-digit growth in Emerging Markets and solid growth in our Top 15 brands. The Company also reported:

Net income of $914.5 million from continuing operations
Operating free cash flow of almost $1.1 billion

Earnings per share from continuing operations declined to $2.87 from $2.91 the previous year, primarily reflecting the unfavorable impact of foreign currency translation.

During the year, Heinz sold three non-core frozen food businesses. Including these discontinued operations, Heinz reported net income of $864.9 million, or $2.71 per share, for the year.

Heinz 2010 Annual Report

Delivering Top-Line Growth

Including Fiscal Years 2010 and 2011, Heinz has delivered 24 consecutive quarters of organic² sales growth despite the recession, weak consumer confidence and global uncertainty and rising commodity costs.

24ConsecutiveQuarters

(1) Operating free cash flow is cash from operations less capital expenditures net of proceeds from disposal of PP&E.
(2) Volume plus price
(3) Adjusted for approximate impact of 7% for the extra week in Q4 FY06 and one less week in Q4 FY07
(4) Not restated for FY10 discontinued operations
* Reconciliations of non-GAAP measures are contained in the 2010 and 2011 Annual Reports; links to these reports are set forth above.

^{(1) Operating free cash flow is cash from operations less capital expenditures net of proceeds from disposal of PP&E.

(2) Volume plus price

(3) Adjusted for approximate impact of 7% for the extra week in Q4 FY06 and one less week in Q4 FY07

(4) Not restated for FY10 discontinued operations

* Reconciliations of non-GAAP measures are contained in the 2010 and 2011 Annual Reports; links to these reports are set forth above.}