Meg Nollen SVP Strategy and Investor Relations (412) 456-1048 meg.nollen@us.hjheinz.

com

Mary Ann Bell VP Investor Relations (412) 237-9760 maryann.bell@us.hjheinz.com

Driving Global Growth

Investor Presentation Winter 2012 - 2013

NYSE: HNZ Market Cap: ~$18.5B Q2 FY13 Avg. FD Share O/S: 323.1MM FY12 Net Sales: $11.6B Est. Annualized Dividend: $2.061

Safe Harbor Statement

Please be aware that certain forward-looking statements made during these presentations, which are not historical facts, including any statements regarding the Companys targets, beliefs or expectations, are forward-looking statements that are being made in an effort to assist you in understanding the Company and its results. Forward-looking statements involve inherent risk and uncertainty. There are a number of important factors that could cause actual results to differ materially from those contained in such statements. These risk factors are described in the Companys annual report on form 10-K for the fiscal year ended April 29, 2012 and reports on form 10-Q filed thereafter. The Company may also use pro-forma financial exhibits, which could differ from reported results using Generally Accepted Accounting Principles (GAAP). Reasons for differences from GAAP versus non-GAAP pro-forma statements are that the latter typically exclude special charges, which are not expected to occur routinely in future periods. The Company uses the non-GAAP financial exhibits internally to focus management on periodto-period changes in the Companys businesses and gauge our business operating performance. Management believes this information is also helpful to investors in understanding trends in the business. The most directly comparable GAAP financial measures and reconciliations to nonGAAP financial measures are set forth in both the slides accompanying these presentations and the forms 8-K and their exhibits furnished to the SEC in connection with the Companys current earnings release and the earnings releases for fiscal years 2006 through 2013, which are posted at www.heinz.com in the Heinz Press Room. These forward-looking statements speak only as of the date of the presentations and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of future events or otherwise, except as required by the securities laws. The majority of the following discussion will focus on earnings from continuing operations excluding special items.

22

Table of Contents
Overview Three Core Categories Emerging Markets Financial Highlights Business Segments Heinz North America - North American Consumer Products - U.S. Foodservice Europe Asia / Pacific Rest of World Corporate Social Responsibility

Slide #
4 22 50 65 78 81

97 109 126 134

The H.J. Heinz Company

World-Class Iconic Brands

Global Portfolio
Strong, Profitable Emerging Markets Growth

Excellent Cash Flow and Return to Shareholders

Experienced and Proven Global Leadership Team

A Decade of Transformation: Big Changes to Big Things

2002 2012 3 categories Approaching 25% Collaborative business units Integrated global functions Shareholderaligned metrics Global SAP template

Category Focus Emerging Market Mix Organization Talent Incentive Metrics Systems

6 categories 7% of sales Independent affiliates Local Profit only Disparate/ antiquated

We Have Built a Strong, Sustainable Platform for the Future

5

Three Core Categories

2002 2012

Ketchup & Sauces 28% of Sales

Infant / Nutrition Ketchup & Sauces 47% of Sales(1)

Meals & Snacks

Focusing on Advantaged Product Portfolios

(1) FY13 YTD results.

Advantaged Geographies
Strong International Portfolio
Q1 FY13 results

Growth in Emerging Markets

Percentage of Total Company Sales from Emerging Markets

33%

24%

U.S. International

67%
15%
16%

21%

Balanced Emerging Markets Exposure

FY13 full year estimate

11%
9%

12%

13%

14%

FY05

(1)(2)

FY06

(2)

FY07

(2)

FY08

(2)

FY09

FY10

FY11

FY12 1H FY13

Increasing Global Mix

(1) Total sales not restated for FY10 discontinued operations. (2) Total sales not restated for FY13 discontinued operations. Amounts are from continuing operations.

Focused Global Portfolio

Geographies Categories Ketchup & Sauces Meals & Snacks Infant / Nutrition Developed Markets United States United Kingdom Western Europe Italy Australia/ New Zealand Canada Emerging Markets Brazil/Latin America China Indonesia Russia / E. Europe India Africa/Middle East

~95% of Sales

~75% of Sales

~25% of Sales

Approximately Two-Thirds of Sales are Outside the U.S.

Based on FY12 Full Year sales from continuing operations; Developed vs. Emerging Markets reflects FY13 full year estimate.

Heinz Has Delivered Superior TSR

Value of $100 investment, Dec 2002 Oct 2012
260 240 220 200 180 160 140 120 100 80

H.J. Heinz Company S&P 500 S&P 500 Packaged Foods Index

$257

$216 $192

Dec-02

Oct-12

Targeted Portfolio Changes Set the Path for Long-Term Success

Time period: December 20, 2002 (date Del Monte spinoff transaction was completed) through October 26, 2012.

Execution of Proven Plan

Expand the Core Portfolio
Grow through health & wellness, taste, and convenience Leverage the science of innovation Continue to invest in the business

Accelerate Growth in Emerging Markets

Invest for double-digit sales & profit growth Leverage infrastructure/Expand distribution Win with global customers/modern trade Grow through health & wellness, taste, and convenience Leverage the science of innovation Execute strategic M&A

Strengthen and Leverage Global Scale

Innovation transfer Global procurement Global customers Global process design Wall-to-Wall SAP Productivity

Make Talent an Advantage

Right leadership Strengthen bench Excel at recruitment/ development Right incentives Optimize talent placement

Execute strategic M&A

Sustainability

10

Strong and Consistent Performance

Sales(1) - $MM
Average Organic Growth(3)

EPS(1)

+8.5%
CAGR

4.0%

Operating Free Cash Flow (2) - $MM

Average 113% of Net Income(1)
864 1,206(4)

After-Tax ROIC

+440
bps

(5)

(1) Amounts are continuing operations, FY06 and FY12 Net Income and EPS excludes special items. FY06 Sales and EPS are not restated for FY13 discontinued operations. (2) Operating Free Cash Flow is cash from operations less capital expenditures net of proceeds from disposal of PP&E. (3) Volume plus price. (4) Excludes cash paid for productivity initiatives related to severance and other implementation costs and capital spending. (5) Excludes charges for productivity initiatives related to severance, asset write-offs and other implementation costs.

11

30 Consecutive Quarters of Organic Sales Growth(1)

7.3%
(2)

4.5%

(2)

FY06(4)(5)

FY07(4)(5)

FY08(4)(5)

FY09(5)

FY10(5)

FY11(5)

FY12

FY13

(1) (2) (3) (4) (5)

Volume plus price. Adjusted for approximate impact of 7% for the extra week in Q4 FY06 and one less week in Q4 FY07. Adjusted for approximate impact of 3% for two extra business days in Q4 FY12. Not restated for FY10 discontinued operations. Not restated for FY13 discontinued operations.

12

FY13 YTD Organic Sales Growth(1)

Emerging Markets
Top 15 Brands Global Ketchup

Trio of Growth Engines Continues to Drive Growth

(1) Volume plus price from continuing operations.

13

Increased Marketing Spend

Investing to Drive Future Growth

(1) Excludes currency translation versus FY12 average rates.

14

Incremental Investments
Emerging Markets Capabilities Global Systems Implementation
Global Partner

Investing to Drive Future Growth

15

U.S. Consumer Products Strong Share Growth

Percentage of Portfolio in Volume Share Growth

FY12

FY13

Reflects Increased Marketing and Stronger Execution

Source: Nielsen, 12 week volume shares corresponding most closely to each fiscal quarter.

16

Heinz Europe - Succeeding in a Challenging Environment

UK

Russia

Solid Innovation and Strength in East and West

17

U.S. Foodservice and Australia

Double-Digit Operating Income Growth in Q2 FY13

18

FY13 Outlook Sales & Profit on Track

Q2 FY13 Earnings Release, Nov 20, 2012 Continuing Operations

Constant Currency(1)

Sales EPS(2)

4%+ 5 - 8%

Actual Currency

OFCF(3)

$1B+

Constant Currency(1) EPS $3.52 - $3.62

(1) Excludes the impact of foreign currency translation and current year translation hedges. (2) Excludes charges in Fiscal 2012 for productivity initiatives related to severance, asset write-offs and other implementation costs. (3) Operating Free Cash Flow is cash from operations less capital expenditures net of proceeds from disposal of PP&E.

19

Total Company Cash Flow Priorities

1. Growing the Dividend

2. Bolt-on Acquisitions
3. Share Repurchase to Offset Options Dilution 4. Debt Reduction
Fitch Upgraded HNZ Credit Rating to BBB+ in July
20

Growing the Dividend

Annual Dividend(1)

~3.5% Dividend Yield

(1) Annualized equivalent, declared quarterly.

21

Three Core Categories Growth in FY06-FY12

Ketchup & Sauces
Meals & Snacks Infant / Nutrition

Note: 6-Year CAGR and percentages of total sales are based on FY12 Full Year sales from continuing operations

22

Core Categories Ketchup & Sauces

FY12 Net Sales

Fastest-growing business
Other Infant Nutrition

7% FY12 organic growth(1)

Ketchup & Sauces

Ambient Meals & Snacks

Frozen Meals & Snacks

12% FY12 constant currency growth(2)

~25% of sales in Emerging Markets Led by iconic Heinz brand

Opportunity to Leverage Global Leadership

(1) Volume plus price. (2) Excludes currency translation impact versus FY11 average rates.

23

Core Category Ketchup & Sauces

Highest margins and ROIC Rapid growth in Emerging Markets Leading market shares Substantial upside in many Developed Markets Lower private label penetration Flexible and competitively advantaged manufacturing Unique advantage of Heinz seed technology

Winning Where We Compete

Source: Euromonitor, 2011 Retail Sales.

24

Heinz Is A Global Leader in Ketchup and Sauces Category

Global Sauces, Dressings & Condiments Category Global Ketchup

1. Unilever

1. H.J. Heinz Co.

2. Unilever 3. Kagome

2. H.J. Heinz Co.

3. Nestle 4. McCormick 5. Kraft

4. Kikkoman
5. Nestle

Strong Position and Capabilities in $110B Global Category

Source: Euromonitor, total Company shares of Sauces, Dressings & Condiments category and Ketchup category, as of 2011.

25

Top 10 Ketchup & Sauces Growth Markets

Estimated 2011-2015 Retail Sales Growth (U.S. Billions)
Emerging Market Developed Market

FY11-15 CAGR: 7.6%

33.4%

8.8%

2.2%

7.0%

19.2%

7.5%

4.0%

14.7%

0.7%

Highest Growth in Emerging Markets

Source: Euromonitor, Total Sauces, Dressings, and Condiments, FY2011-2015 growth at fixed 2011 exchange rates and 5 year CAGRs. Excludes Iran at #9.

26

Heinz Global Ketchup - Product and Packaging Innovation

Flavors and Features Creative & Cost-Effective Packaging

Keeping a 136-Year-Old Franchise Fresh and Growing

(1) Volume plus price. Excludes the Master brand for the first 6 months and the Quero brand for the full 12 months, which were classified as acquisitions.

27

U.S. Consumer Products New Packaging Inspired by Iconic Bottle

1888 2012

Classic Design Preferred by Consumers, Requires Less Packaging Material

28

Global Ketchup Introducing Products for Grown-Ups

Jalapeo Indian Spices Balsamic

Appealing to Adult Tastes in the U.S. and Europe and Expanding Host Food Range
29

Top 10 Global Ketchup Markets

Market Sizes - $U.S. (MM)

Heinz #1 Position

#1 in 7 of Top 10 Ketchup Markets

Source: Euromonitor, 2011.

30

Introduced the Heinz Brand in Brazil

Brazil

+
+
31

Russia

Repeating the Strategy that Made Heinz #1 in Russia

(1) Volume plus price. Source of share position: Nielsen, through May 31,2012.

Ketchup & Sauces in Pouch Format

Ketchup Doy Pack Russia Ketchup Doy Pack U.S. Soy Sauce Pouch Indonesia

Mayonnaise Pouch Brazil

Cheese Sauce Russia

Convenient, Affordable Packaging

32

Foodstar Acquisition Expanding Presence in Soy Sauce

Growing Through Trial and Penetration Extending Distribution to Adjacent Provinces

Zhejiang Province Fujian Province Guangdong Province

Focus Area Opportunity

$4B China Soy Sauce Category

(1) Company estimate of reported sales growth versus same period last year under previous ownership. Excludes the impact of foreign currency. Category size: Euromonitor, 2011.

33

Global Foodservice Market Growing Rapidly

Global Foodservice Market Growth Breakdown
USD Billion, 2010 2015
2010 Total AME

2,481 87 454 71 111 125 100 138 3,566

% Growth 2010 2015

72% 103% 45% 54% 23% 25% 22% 44%

ASIA
EE LA NA PAC WE 2015 Total

Source: Planet Retail.

34

Heinz Indonesia Condiments & Sauces

Reported Sales
U.S. Millions

Established: 1976 Heinz Since: 1999

Driving Double-Digit Growth in Worlds Fourth Largest Nation

35

Core Categories Meals and Snacks

FY12 Net Sales
Continuing Operations Frozen Meals & Snacks Ambient Meals & Snacks Ketchup & Sauces Infant Nutrition Other

More than 90% in Developed Markets

$2.5B Frozen portfolio
Flat in FY12 Impacted by consumer confidence

$1.9B Ambient portfolio

+4% organic growth(1), +15% constant currency growth(2) Well-positioned for difficult economy

(1) Volume plus price; excludes Australia business results. (2) Excludes currency translation impact versus FY11 average rates; excludes Australia business results.

36

Frozen Meals & Snacks

$2.5B FY12 Net Sales
Continuing Operations
Pacific Europe
All Other

North America

Anchored By Three Large U.S. Brands

T.G.I. Fridays is a trademark of T.G.I. Fridays of Minnesota, Inc.

37

Managing Frozen Portfolio Exited premium Boston Market & TGIF meals Divested U.S. Foodservice Desserts Downsized Long Fong business in China Exited six frozen factories

Frozen manufacturing footprint now 26% smaller

Improving Productivity and Reducing Cost

Includes the divestiture of the U.S. Foodservice Desserts business.

38

Ambient Meals & Snacks

$1.9B FY12 Net Sales
Continuing Operations
North America

Rest of World

Asia / Asia / Pac Pacific

Europe

Iconic Brand, Creative Marketing and Successful Innovation

39

U.K. Product Innovation Beanz for Grown Upz

Incremental Purchases at a Premium Price

40

Sharing Innovation Globally Squeeze & Stir Soups

Expanded into Adjacent Instant Soup Category

41

Core Categories Infant / Nutrition

FY12 Net Sales
Continuing Operations

Solid growth in FY12

Other

Infant Nutrition
Ambient Meals & Snacks Frozen Meals & Snacks

4% organic growth(1) 16% organic growth(1) in Emerging Markets

Ketchup & Sauces

Led by Heinz and Complan brands

Over 40% of Heinz Infant / Nutrition Sales are in Emerging Markets

(1) Volume plus price.

42

Core Category Infant / Nutrition Brand strength

Rapid Emerging Markets growth Leading market shares

Further penetration opportunities

Fragmented competitive set Global innovation applicability Long history of expertise

Targeting #1 Baby Food Share in Our Markets

43

Heinz Has a Sizeable Position Globally

Prepared Baby Food 1. Nestle SA 2. Groupe Danone All Infant Nutrition 1. Nestle SA 2. Groupe Danone 3. Mead Johnson 4. Abbott Labs

3. H.J. Heinz Co.

4. Hipp GmbH 5. Hero AG

5. H.J. Heinz Co.

Well-Developed Emerging Markets Capabilities

Source: Euromonitor, data through 2010; ranked by Retail Value RSP.

44

Infant / Nutrition Opportunity

Global Category Retail Sales
$50 $40

Global Category Developed vs. Emerging

$30

38% 62%

$20

$10

$-

2006

2007

2008

2009

2010

2011

Emerging Markets Developed Markets

+18% CAGR +1% CAGR

Emerging

Developed

Infant / Nutrition in Emerging Markets: The Intersection of Two High-Growth Opportunities

Source: Euromonitor.

45

Heinz Global Infant / Nutrition Center of Excellence

Italy Emerging Markets

Leveraging 100 Years of Infant / Nutrition Expertise Globally

46

Heinz Global Infant / Nutrition Sales by Category

$1.2B FY12 Sales by Geography
Continuing Operations Eastern Europe

Asia
Western Europe Rest of World ANZ Canada

Strong Brands and Innovation Capabilities

47

Heinz Global Infant / Nutrition Three Segments

Baby Food ~65% of Business

Nutritional Beverages and Infant Formula ~35% of Business

Up and Down Aging in Several Key Markets

48

New Baby Food Pouch Format

Affordable Convenient Efficient alternative to glass

Adopted Across the Heinz World

49

Emerging Markets

Approaching $2.5 Billion in FY12; Aspiring to ~$5 Billion in FY16

50

Emerging Markets Sales by Region

Europe Asia-Pacific Rest of World

Emerging

Developed

Growing Disproportionately in All Regions

51

Well-Balanced Geographic Portfolio

FY13 Expected Net Sales by Geography
All Others India Other Latin America Brazil Indonesia China
Eastern Europe

Expecting Eastern Europe, Venezuela, Brazil, Indonesia and China to be $400 Million Businesses This Year
52

Heinz Emerging Markets Have Been Growing Rapidly

Total Sales - Continuing Operations
U.S. Billions

(1)

Strong and Consistent Organic Growth(2)

(1) Total sales not restated for FY10 discontinued operations. (2) Volume plus price.

53

Heinz Emerging Markets Driving Disproportionate Growth

Emerging Markets Organic Growth(1)

(2)

(3)
(4)

One of the Fastest-Growing Businesses in the Sector

(1) (2) (3) (4) Average Organic Growth (volume plus price) from Heinz FY12 and comparable time period for peers, from Company Reports Data based on Latest Quarter from Company Report Mead Johnson information based on growth of Asia / Latin America Segment Reported results excluding currency translation impact versus FY11 average rates and current year translation hedges.

54

Emerging Markets Profit Trends

Heinz Emerging Markets Historical Performance
NSV ($)

Gross Profit ($)

Gross Profit Keeping Pace With Sales Growth

55

Emerging Markets Gross Margin

FY12 Gross Margins
Reported Margins Excluding Quero & Foodstar

Eliminated 30% of the gross margin gap in FY12 Further opportunities:

Scale Pricing Mix Tiering

Productivity Global Best Practices

Total Heinz Developed Emerging

Driving for Continued Margin Expansion

56

Emerging Markets Margin Opportunity

Expected Annual Growth in Packaged Foods Spending (2011-2015)
Rp 2,000 ($0.22) Rp 250 ($0.03) Rp 11,000 ($1.22)

Expecting Pricing and Margins to Improve Over Time

Sources: Spending projections from Euromonitor, year-over-year value.

57

Emerging Markets Profit Trends

Heinz Emerging Markets Historical Performance
Operating Income
Acquisitions

Net Income and Operating Free Cash Flow(1)

Net Income Operating Free Cash Flow

Strong Operating Income Growth and Cash Flow

(1) Cash from operations less capital expenditures net of proceeds from disposal of PP&E. Excludes Foodstar and Quero acquisitions.

58

Emerging Markets Fragmented Competitive Set

No Single Competitor Across Heinz Emerging Markets

Source: Nielsen, Company reports. Firm is listed as a competitor if ranked in the top 3 by 52 week value share.

59

Emerging Markets Rapidly-Growing Middle Class

Middle-class and above-middle class population (millions):
450 400 350 300 250 200 150 100 50 0

366 314

2010 2015 E

172

186 91 123 48 103 48 69 44 59 34 43 17 22

China

India

Russia

Indonesia

Brazil

Turkey

Mexico

South Africa

460 Million New Middle Class Consumers

Note: China, Russia, Brazil middle-class households are those with annual income exceeding $10,000; India and Indonesia middle-class households are those with annual incomes exceeding $5,000 Source: Boston Consulting Group; Economist Intelligence Unit; Brazilian Institute of Geography and Statistics (IBGE); Instituto Nacional de Estadistica y Geograffia (INEGI), BCG China population and income forecast database, 2010; The Great Indian Middle Class, National Council of Applied Economic Research (NCAER), 2004; BCG Analysis.

60

Emerging Markets Growth Far Exceeds Developed Markets

2012E GDP Growth
(percent)

Annual Births
(millions)

Population
(billions)

5.9

120.5

5.7

1.4
13.7

1.2

Developed

Emerging

Developed

Emerging

Developed

Emerging

Expecting Continued Outsized Growth

Source: U.S. Census Bureau, International Data Base (2011), IMF July 2012 World Economic Outlook Update.

61

Emerging Markets Will Represent Six of the Worlds Ten Largest Economies in 2050
GDP Growth Rankings, 2007 vs 2050 Projected

2007 Ranking
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. United States Japan China Germany United Kingdom France Italy Canada Spain Brazil

2050 Ranking
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. China United States India Brazil Japan Russia Mexico Indonesia Germany United Kingdom

Heinz Is Well-Positioned for the Future

Source: PriceWaterhouse Coopers, The World in 2050: Beyond the BRICS a broader look at emerging market growth prospects, Mar 2008

62

Expecting Heinz Emerging Markets to be 30% in FY16

Heinz Emerging Markets NSV
~
Approaching

(1)

Future Organic Growth(2) + Bolt-On Acquisitions

From continuing operations (1) Total sales not restated for FY10 discontinued operations. (2) Volume plus price.

63

Key to Emerging Markets Growth: Acquisition Opportunities

Identify
Build relationships
Strategic fit and growth opportunities

Evaluate

Local market insights and capabilities Sales and distribution network

Invest Grow

Provide funding to accelerate growth Add regional and global capabilities Evaluate further bolt-on acquisitions

Buy and Build Strategy

64

FY13 Financial Highlights

65

Second Quarter Results Continuing Operations

EPS of 90 cents

3.3% organic sales growth(1)

Balance of volume and pricing

Strength in Emerging Markets, Global Ketchup and Top 15 Brands

Favorable effective tax rate

Investing in Marketing and Global Capabilities to Drive Future Growth

(1) Volume plus price.

66

EPS Summary Q2 FY13

Continuing Operations
Reported Constant Currency(2)

Total Company Reported

(1)

(1)

Another Quarter of Double-Digit Earnings Growth

(1) Excludes charges in FY12 for productivity initiatives related to severance, asset write-offs and other implementation costs. (2) Excludes currency translation versus FY12 average rates as well as current year currency translation hedges.

67

Sales Drivers Q2 FY13

Continuing Operations

Organic Growth(1) Driven by both Volume and Price

(1) Volume plus price.

68

Gross Margin Q2 FY13

Continuing Operations
35.8% 35.4%

Impacts:

+ Pricing + Productivity Commodities Tomatoes Potatoes Sweeteners

Q2 FY13

Q2 FY12
Excluding Special Items(1)

Gross Profit +4.1%(1) and Gross Margin +40bps(1)

(1) Excludes charges in FY12 for productivity initiatives related to severance, asset write-offs and other implementation costs. FY13 amounts are in constant currency: Excludes currency translation impact versus FY12 average rates.

69

Heinz has a Diversified Input Basket

Proteins

Spending by Commodity
Beans

Resins Tomatoes

Sugar

Metals

No Single Commodity Greater than 15%

70

P&L Scorecard Q2 FY13

(U.S.$ MM)

Change B/(W) Q2

Continuing Operations

FY13

FY12(1)

Change

Constant Currency(2)

Revenue Gross Profit Margin

$2,827 35.8%

$2,814 35.4%

0.5% 0.4 pp

2.9% 0.4 pp

Marketing
Operating Income Diluted EPS

$120
$392 $0.90

$109
$395 $0.81

(10.0%)
(1.0%) 11.1%

(13.4%)
0.5% 13.6%

Year-Over-Year Total Currency Impacts ($0.02)

(1) Excludes charges in FY12 for productivity initiatives related to severance, asset write-offs and other implementation costs. (2) Excludes currency translation versus FY12 average rates as well as current year currency translation hedges.

71

Balance Sheet Scorecard Q2 FY13

(U.S.$ MM)

Q2

Total Company

FY13

FY12

Change B/(W)

Capex (% of Revenue) Cash Conversion Cycle (Days)(1)(3)

3.2% 41

3.6% 46

40 bps 5 days

Operating Free Cash Flow(2)

$155

$131

$24

(1) Calculated using a two point balance sheet average. (2) Cash from operations less capital expenditures net of proceeds from disposal of PP&E. (3) Excludes charges in FY12 for special items (productivity initiatives related to severance, asset write-offs and other implementation costs).

72

EPS Summary YTD FY13

Continuing Operations
Reported Constant Currency(2)

Total Company

$1.76
$1.60
(1)

$1.70

$1.43

FY13

FY12

FY13

FY12

(1) Excludes charges in FY12 for productivity initiatives related to severance, asset write-offs and other implementation costs. (2) Excludes currency translation versus FY12 average rates as well as current year currency translation hedges.

73

Sales Drivers YTD FY13

Continuing Operations

(1) Volume plus price.

74

P&L Scorecard YTD FY13

(U.S.$ MM)

Change B/(W)

YTD
Continuing Operations

FY13

FY12(1)

Change

Constant Currency(2)

Revenue
Gross Profit Margin Marketing

$5,618
35.9% $235

$5,647
35.6% $227

(0.5%)
0.3 pp (3.5%)

3.5%
0.2 pp (8.8%)

Operating Income
Diluted EPS

$802
$1.76

$807
$1.60

(0.6%)
10.0%

2.8%
14.4%

Year-Over-Year Total Currency Impacts ($0.07)

(1) Excludes charges in FY12 for productivity initiatives related to severance, asset write-offs and other implementation costs. (2) Excludes currency translation versus FY12 average rates as well as current year currency translation hedges. (3) Volume plus price.

75

Balance Sheet Scorecard YTD FY13

(U.S.$ MM)

YTD FY13 FY12

Change B/(W)

Capex (% of Revenue)

3.1%

3.1%

0 bps

Cash Conversion Cycle (Days)(1)(6)

Operating Free Cash Flow(2) Net Debt(3) / EBITDA(4)(6) After-Tax ROIC(5)(6)

38
$131 2.1x 20.4%

44
$228 2.1x 18.5%

6 days
($98) 0x 1.9 pp

(1) Calculated using a three point balance sheet average. (2) Cash from operations less capital expenditures net of proceeds from disposal of PP&E. (3) Total debt (long and short term) less cash and cash equivalents, restricted cash, and hedge accounting adjustments. (4) EBITDA is H.J. Heinz Company Net Income before Interest, Taxes, Depreciation and Amortization. (5) After-tax ROIC is based on latest 12 month P&L and rolling 5-quarter average net invested capital. FY13 after-tax ROIC was adjusted by 30 bps to remove the impact of losses from discontinued operations. FY12 was unfavorably impacted by 80 bps for the Quero acquisition. (6) Excludes charges in FY12 for productivity initiatives related to severance, asset write-offs and other implementation costs.

76

The H.J. Heinz Company

World-Class Iconic Brands

Global Portfolio
Strong, Profitable Emerging Markets Growth

Excellent Cash Flow and Return to Shareholders

Experienced and Proven Global Leadership Team

77

Heinz Business Segments

By Geography
Rest of World

By Category

Other
Infant / Nutrition Meals & Snacks

Asia / Pacific Europe

North America

Ketchup & Sauces

$11.6 Billion in FY12 Net Sales

FY12 reported net sales from continuing operations.

78

Sales by Segment YTD FY13

(U.S.$ MM)

Continuing Operations

$1,586

$1,554

$1,264
$663

$551

Europe

B/(W) vs. Prior Year:

N.A. Consumer Products

Asia/Pacifc

U.S. Rest of World Foodservice

Organic(1)
Constant Currency(2) Reported

1.1%
0.6% (5.7%)

0.6%
(0.6%) (1.0%)

4.1%
4.1% 0.0%

3.3%
3.3% 3.3%

25.7%
25.7% 12.5%

16.4% Organic Growth(1) in Emerging Markets

(1) Volume plus price (2) Excludes currency translation versus FY12 average rates.

79

Operating Income YTD FY13

(U.S.$ MM)

Continuing Operations

$374 $278

$123

$81

$58

B/(W) vs. Prior Year:

Constant Currency(1) Reported

N.A. Consumer Products

Europe

Asia/Pacifc

U.S. Rest of World Foodservice

(4.5%) (4.8%)

3.7% (1.5%)

28.3% 21.1%

20.0% 20.0%

(3.4%) (9.8%)

(1) Excludes currency translation versus FY12 average rates. Note: All special items in FY12 are reported in the Non-Operating segment.

80

Heinz North America

North American Consumer Products U.S. Foodservice

81

Heinz North America (HNA)

Categories
Ambient Meals & Snacks Infant / Nutrition Other

$4.6B FY12 Net Sales Continuing Operations

Segments

Frozen Meals & Snacks

Ketchup & Sauces

Foodservice

North America Consumer Products (NACP)

82

Total Heinz North America FY10 - FY12 Results Continuing Operations

$4.6B FY12 Reported Sales
U.S. Millions

$1.0B FY12 Operating Income

U.S. Millions

$4,525

$4,605

$4,587

$908

$1,016

$982

FY10

FY11

FY12

FY10

FY11

FY12

Disappointing Year in FY12

83

U.S. Consumer Products Ore-Ida and Classico

Addressed the Value Propositions, Increasing Marketing and Innovation

84

#1 in Customer Satisfaction

Food Manufacturing H.J. Heinz Company Mars, Inc. Quaker Foods Hershey Foods Corp. Nestle S.A. General Mills, Inc. ConAgra Foods, Inc. Dole Food Company, Inc. Kraft foods, Inc. Sara Lee Corp. Kellogg Company Campbell Soup Company

2007 90 86 86 87 83 83 83 83 84 82 83 83

2008 89 86 87 85 83 84 84 83 85 84 85 80

2008 89 87 87 87 85 83 78 84 83 85 85 82

2010 88 85 86 86 84 83 83 82 81 85 81 82

2011 89 87 84 84 84 83 83 83 83 82 80 79

2012 89 86 86 85 85 83 84 83 81 83 83 81

Source: University of Michigan American Customer Satisfaction Index

85 85

U.S. Consumer Products Reaching the Hispanic Consumer

Driving Penetration and Trial

86

U.S. Consumer Products New Ketchup Varieties

Building Excitement Around Our Flagship Product

87

U.S. Consumer Products New Packaging Inspired by Iconic Bottle

1888 2012

Classic Design Preferred by Consumers, Requires Less Packaging Material

88

U.S. Consumer Products Focus on Alternate Channels

Improved distribution Products for value-oriented consumers

Making Good Progress

89

Healthy New Products for Smart Ones

Breakfast

Lunch Dinner

Snacking

Strong Innovation Pipeline

90

U.S. Foodservice Strategy

Focusing on branded Ketchup & Sauces Securing white space volume Driving productivity
Exited Foodservice Desserts business

Simplified the Frozen Soup business

Right-Sizing and Driving for Growth

91

Dip & Squeeze

Over 1 billion packages sold to date

Now 25% of U.S. branded single-serve ketchup sales

Gaining manufacturing efficiency Now available in Pittsburgh area McDonalds restaurants (Tri-Ad Mac) Expecting to convert more customers in 2012

Strong U.S. Performance Propelled by Consumer Preference

92

Reaching Consumers via Restaurant Tabletops

Some CY 2011 Highlights:

17 Billion Impressions = 153 Super Bowl Audiences

93

Driving Productivity

Simplified Frozen Soup Business

Exited King of Prussia factory Exited Kent factory Reduced headcount by 125 and fixed cost by $10MM

Improved ROIC

Driving More Profitable Growth

94

Driving Productivity

Exited Foodservice Desserts

Low margin business with declining sales
Sold Alden Merrell and Diannes in May Exited two factories Reduced headcount by 500 and fixed cost by $13MM Eliminated ~400 skus Allows greater focus on branded Ketchup & Sauces

NSV impact (~$73) million in FY13

Foodservice Well Positioned for the Future

95

Heinz North America Delivering Productivity Savings

Productivity as a % of COGS: Targeting total productivity savings of 5% COGS Ongoing productivity program Value engineering Expecting to double savings rate in FY13 Benefits from FY12 one-time productivity initiatives

Providing Fuel for Growth

96

Europe

97

Heinz Europe $3.4 Billion FY12 Net Sales

Regions
Eastern Europe Italy

Categories
Other Infant / Nutrition

UK & Ireland

Frozen Meals & Snacks

Ketchup & Sauces

Continental Europe

Ambient Meals & Snacks

Diversified European Portfolio

98

Total Heinz Europe FY10 - FY12 Results

$3.4B FY12 Net Sales
U.S. Millions

$0.6B FY12 Operating Income

U.S. Millions

Solid and Consistent Growth

(1) Excludes the impact of foreign exchange.

99

The European Agenda

OBJECTIVE STRATEGY

Drive Profitable, Sustainable

Focus on the Big Four Grow faster in Emerging Markets

Emphasis on Ketchup & Sauces,
Infant / Nutrition

GROWTH

Share across country borders

New Innovation Centre Category teams

Gain

EFFICIENCY
and Build Foundation for Growth

Leverage our European scale

Big, sophisticated well run functions Keystone European business planning

Leverage ideas & assets

100

Heinz Europe Big Four Plus Emerging Markets

Ketchup Infant / Nutrition Beans & Pasta Meals Soups Emerging Markets

Russia Poland CIS

~75% of European Sales

101

Heinz Europe Big Four

Common Strategies
Pan-European Category Teams Improving Innovation Increased Marketing

Full Price Consumption

Reduced D&A

Marketing Driving Full-Price Consumption

102

Heinz UK New Squeeze & Stir Instant Soups

79% Incremental Sales

8% Market Share in Six Months

Sweet Spot: Health + Taste + Convenience

Source: Euromonitor, 2011. Size of UK alone is $164 million.

103

Heinz Named Britains Favourite Brand

Source: Harris Interactive for The Grocer Note: 1,182 respondents interviewed; percentages based on 897 who named a brand.

104

Heinz Global Infant / Nutrition Breakthrough Innovation - Aseptic Superior taste Resealable, convenient plastic packaging

Environmentally-friendly
Strong share gains where launched in Italy

Expecting 25% of our business in aseptic technology by FY15

Early Market Results Very Promising

105

R&D Professionalization and Europeanization

New facility and organization to drive European capabilities:

Innovation gaining speed Perfecting the fundamentals Ensuring cost competitiveness Leading health & wellness brand in core categories

European Innovation Centre Opening in FY13

106

Strong Country Operating Model & New, Sophisticated Functions

In-Country
Run the Business
Consumer insight Idea creation P&L trade-offs

European Backbone
Demand Fulfillment
Develop Source Make Product Plan Deliver

In-Country Demand creation Marketing Demand Creation excellence Marketing excellence Customerinfluence Customer influence insight Financials Financials and delivery insight & delivery

Supporting Sophisticated Capabilities Harmonized systems Integrated supply chain function R&D Centre Information system shared services
107

New Supply Chain Model Leading Europeanization

Description FY09 Current

Supply Chain Organizations Factories Distribution Centers Days in Inventory

4 23 42 70

1 18 29 56

-75% -22% -31% -20%

ERP Systems

-38%

Simplification, Standardization, Greater Efficiency

108

Business Segments Asia / Pacific

109

Asia / Pacific Segment FY12 Sales by Market

FY10
Others India China Australia Indonesia Indonesia Japan New Zealand New Zealand Japan China Emerging Developed

FY12
Others India

Australia

Emerging Markets Approaching Half of Regions Sales

110

Heinz Asia / Pacific FY10 - FY12 Results

$2.6B FY12 Reported Sales
U.S. Millions

$206 Million FY12 Operating Income

U.S. Millions

Successfully Addressing Challenges in Australia

111

Australia
Bringing retailers significantly improved value and service Much improved customer service Better shopper and consumer insights

Improved innovation Weight Watchers Snacks 24/7 idea First Probiotic juice in Australia

112

Australia
Reduced costs on every front 1. Had 5 factories
1 closed 3 downsized

2. Record year on productivity

Lines running better Less waste Products and packaging more cost efficient

3. Beverage down-the-street sales force

More effective, nimbler and much lower cost

4. Downsized head office

Improved work processes
113

Australia
Have re-organized 1. New Senior Management team
Many functional heads

2. Supply Chain
One fully integrated organisation with NZ More scale and faster

3. Business Unit structure

Four BUs: 1) Food 2) Beverage 3) Infant/Nutrition 4) Out of Home More transparency and accountability

Delivered Strong Double Digit Profit Growth FY13 YTD

114

Japan
Ore-Ida

Pasta Sauce

Heinz Demi-glace

Ready To Use

Frozen Hamburger

Strong Top- and Bottom-Line Growth in FY12

115

New Zealand
9 consecutive years of growth in:

Operating Income
Operating Income Margin NSV

Operating margins have quadrupled

As of FY12; based on local currency.

116

Asia / Pacific Segment FY12 Emerging Markets Sales Growth

Organic(1) Growth
FY10 FY12

Strong Growth in Each Segment

(1) Volume plus price.

117

Heinz Indonesia Condiments & Sauces

Reported Sales
U.S. Millions

Established: 1976 Heinz Since: 1999

Driving Double-Digit Growth in Worlds Fourth Largest Nation

118

Heinz China Portfolio

Ketchup & Sauces Infant Nutrition

Meals & Snacks (Dim Sum)

China is the Worlds Largest Grocery Market

Source: The Guardian (U.K.), May 2012.

119

Heinz China Ketchup & Sauces FY10-13E Sales

Foodstar Heinz

Largest Category for Heinz in China

120

Emerging Markets Growth Leader China Sauces

Extending Soy Sauce to Adjacent Provinces

Zhejiang Province Fujian Province Guangdong Province

Focus Area Opportunity

Driving Growth Through Marketing, Innovation, Channel Expansion and Improved Capabilities
(1) Volume plus price.

121

China Infant / Nutrition

Infant / Nutrition Sales Growth

Qingdao

Foshan

Factories

NSV More Than Doubled in the Last Five Years

(1) Volume plus price.

122

Heinz is Uniquely Positioned in Infant Nutrition

Dry Meal
- Cereal - Noodle

Wet
Jar Food / Pouch

Supplement
- Colostrum - Milk Mate

Snack
Teething Rusk

Gold Noodle

Jar Formulated Colostrum Teething Rusk

Gold IMM Cereal

Wet Meal

IMF
SuperGold
Milkmate

Regular Cereal

Veggie Fruit Crush

IMF Super Gold range launch

Chinas Portfolio Offers a Full Range of Product

123

China Long Fong Frozen Dim Sum

Rice Ball Steam Bread Dumplings

Refocused Portfolio on Three Categories & Key Geographies

124

India Complan Driving Growth in Nutritional Beverages

Local Flavors

Nutritional Enhancements

Down-Aging to Toddlers

FY07

FY08

FY09

FY10

FY11

FY12

Innovation, Marketing, and Distribution Fueling Growth

125

Business Segments Rest of World

126

Rest of World Segment FY12 Sales by Market

Egypt Africa/ Middle East S. Africa

Middle East & Africa GDP Today: $1.6 trillion 2020: $2.6 trillion Consumer Spending Today: $0.9 trillion 2020: $1.4 trillion

Latin America

Good Prospects in Middle East and African Markets

Source: McKinsey Global Institute.

127

Heinz Latin America

Ketchup & Sauces Infant Nutrition Meals & Snacks

~$800 Million Business

128

Key Growth Drivers

Constant Currency(1) Strong Results in All Geographies
Sales Growth FY12 vs. FY11

Total Latin America Brazil Venezuela Mexico Costa Rica Other Markets

23%(2)

Good Organic Growth(3) in Core Categories

Sales Growth FY12 vs. FY11

Ketchup Other Condiments Infant Food

49% 47% 35%

129

(1) Excludes currency translation vs. FY11 average rates. (2) Company estimate of Quero constant currency growth versus same period of last year under previous ownership. (3) Volume plus price.

Emerging Markets Growth Leader Brazil

Locally Manufacturing Heinz Products

Driving Growth Through Marketing, Innovation, Channel Expansion and Improved Capabilities
(1) Volume plus price.

130

Quero Increased Selling and Distribution Capabilities Acquired excellent distribution network in traditional trade Increased Quero and Heinz distribution and support in modern trade Enabled 10-fold expansion of Heinz products distribution Excellent in-store presence

Augmented Quero Distribution Capabilities with Heinz Products and Modern Trade Expertise
131

Mexico Record Ketchup and Baby Food Market Shares

Ketchup and Baby Food Value Shares (Modern Trade)

Source of share information: Nielsen Scantrack, 4-week value shares through April 2012.

132

Rest of World Segment FY12 Sales Growth

Organic Growth (1) FY11 FY12

Strong Growth in Each Segment

(1) Volume plus price.

133

Corporate Social Responsibility

2011 Report Available at www.heinz.com

134

Progress Against 2015 Global Sustainability Goals

Reduction in:

2015 Target

Already Achieved

Greenhouse gas emissions Solid waste Energy consumption Water usage

20% 20% 20% 20%

13.2% 45.6% 15.1% 21.8%

On Track to Meet or Exceed Sustainability Goals

135

Promoting Sustainability Through Innovative Packaging

Plant Bottle 30% Plant Based, 100% recyclable Strategic Partnership Planned launch in Q1 FY12
Key Media Headlines: Heinz Taps Coca-Colas Plant Bottle Technology
The Wall Street Journal

Heinz to Use Coca-Colas Plant-Based Bottle for Ketchup in Bid to Go Green

Associated Press

Unique Prep Trays 40% Less Plastic 50% Reduction in GHG

136

Heinz Micronutrient Campaign Treating and preventing iron-deficiency anemia in infants and children in developing nations Campaign has assisted children in 15 countries, expanding to Africa and Haiti

137

138 138