GENERAL MILLS INC

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation

S-K, we are providing the following information about the relationship between executive compensation actually paid and certain

financial performance measures of the company. For further information concerning our pay for performance philosophy and how we

align executive compensation with the company’s performance, please review the Compensation Discussion and Analysis beginning

onpage 49.

The following tables and related disclosures provide information about (i) the total compensation of our principal executive officer

(“PEO”) and our non-PEO NEOs (collectively, the “Other NEOs”) as presented in the Summary Compensation Table (“SCT”) on

page 62, (ii) the “compensation actually paid” (“CAP”) to our PEO and our Other NEOs, as calculated pursuant to Item 402(v)

of Regulation S-K, (iii) certain financial performance measures, and (iv) the relationship of the CAP to those financial

performance measures.

(1)The PEO was Jeffrey L. Harmening for all years in the table. The Other NEOs were Dana McNabb (2024-2026), Kofi Bruce (all years), Jaime Montemayor

(all years), Karen Wilson Thissen (2023, 2024, and 2026), Jon Nudi (2022-2025), John Church (2022), and Richard Allendorf (2022).

(2)The following tables describe the adjustments, each of which is prescribed by the SEC rules, to calculate the CAP amounts from the SCT amounts. The SCT

amounts and the CAP amounts do not reflect the actual amount of compensation earned by or paid to our executives during the applicable years, but rather

are amounts determined in accordance with Item 402(v) of Regulation S-K under the Exchange Act. Pursuant to the applicable rules, the amounts in the

“Stock Awards” and “Option Awards” columns from the SCT and the amount of the change in the actuarial present value of the NEO’s accumulated benefit

under all defined benefit and actuarial pension plans are subtracted from the SCT amounts and the values reflected in the table below are added or

subtracted as applicable:

RECONCILIATION OF SUMMARY COMPENSATION TABLE TOTAL TO COMPENSATION ACTUALLY PAID(a)

(a)The fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used

to determine the grant date fair value of such awards. For our financial PSUs, we assumed payouts ranging between 20% and 39% for the fiscal 2026

CAP calculations.

(3)Reflects total shareholder return for the S&P 500 Packaged Foods & Meats Index, which is an industry line peer group reported in the company’s 2026 Annual

Report. Total shareholder return is calculated based on a fixed investment of $100 measured from the market close on the last trading day of fiscal 2021

through and including the end of the fiscal year for each fiscal year reported in the table.

(4)Values shown reflect the Organic Net Sales Growth, which is the measure we believe represents the most important financial performance measure not

otherwise presented in the table above that we use to link CAP to our NEOs for fiscal 2026 to the company’s performance.

Financial Performance Measures

The following table lists the four performance measures that, in our assessment, represent the most important performance measures

we used to link compensation actually paid in fiscal 2026 to company performance.

Organic Net Sales Growth*

Adjusted Operating Profit*

Cumulative Operating Cash Flow*

Relative Total Shareholder Return

*Non-GAAP measure. For more information on the use of non-GAAP measures in the Proxy Statement, and a reconciliation of non-GAAP measures to the

Relationship Between Compensation Actually Paid and Performance

The following charts show graphically the relationships over the past five years of the CAP amounts for our PEO and Other NEOs as

compared to our cumulative TSR, Peer Group TSR, GAAP Net Income, and Organic Net Sales Growth*, as well as the relationship

between TSR and Peer Group TSR.

TSR

GAAP NET INCOME

ORGANIC NET SALES GROWTH

As described in more detail in the Compensation Discussion & Analysis, a significant portion of our NEO’s total compensation is tied

to company performance in the form of annual and long-term incentives. Overall, our executive compensation is closely aligned with

shareholder returns. We do not use net income as a financial performance measure that determines compensation levels or incentive

plan payouts for our NEOs; therefore, CAP and net income do not have a direct relationship. We have chosen Organic Net Sales

Growth as our company-selected metric because it is measured in both our annual and long-term incentive plans, and therefore has

the largest impact on our CAP for fiscal 2026.

It is important to note that the CAP amounts paid to our NEOs do not necessarily reflect the actual value that an NEO will receive in

the stated fiscal year as such value will depend on a variety of factors. For example, the value of PSUs that an NEO will receive will

ultimately depend on the company’s stock price at the time of vesting along with the financial performance metrics achieved during

the applicable three-year performance cycle, and therefore, remains at risk of forfeiture or reduction until the time of vesting.

The information contained in this Pay Versus Performance section will not be incorporated into any filings under the Securities Act of

1933 or the Exchange Act, except to the extent that the company specifically incorporates such information by reference.

*Non-GAAP measure. For more information on the use of non-GAAP measures in the Proxy Statement, and a reconciliation of non-GAAP measures to the