CONAGRA BRANDS INC

Fiscal 2024 Target Compensation Opportunity Mix

The charts below show the allocation of the total target compensation opportunity (calculated using base salary earnings, targeted fiscal 2024 AIP award, and targeted LTI Plan value) for Mr. Connolly and for our other named executive officers as a group.

FISCAL 2024 COMPENSATION OPPORTUNITY MIX (AT TARGET)*

*Includes retention grants made to Messrs. Connolly and Marberger.

CONAGRA BRANDS 2024 PROXY STATEMENT 53

Changes to Target Compensation Opportunity for Fiscal 2024

As described above, the Committee examines a variety of factors including roles and responsibilities, peer compensation, market data, and individual, team, and Company performance when establishing target compensation opportunities for our NEOs. After considering those factors, including Mr. Connolly’s strong performance in fiscal 2023, the Committee increased Mr. Connolly’s salary for fiscal 2024 to $1,375,000 as of July 31, 2023 from $1,325,000, his target AIP award opportunity to 180% from 175%, and increased the grant date value of his award under the LTI Plan to $9,400,000 for fiscal 2024 from $8,800,000. Similar adjustments were made to our other NEOs’ salaries while no changes were made to target AIP award opportunities for our other NEOs, except for Mr. Eboli, as detailed below under “Base Salaries” and “Annual Incentive Plan.”