Land O’Lakes 2021 ESG Report

ESG REPORT • 2021 ENVIRONMENTAL, SOCIAL AND GOVERNANCE

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TABLE OF CONTENTS LAND O’LAKES GOVERNANCE

PILLARS OF IMPACT AND GOALS

SUSTAINABLE FUTURES

LAND O’LAKES, INC. ESG REP ORT

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SAFE AND PLENTIFUL FOOD SUPPLY

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13

VIBRANT COMMUNITIES

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15

APPENDIX

51

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ABOUT LAND O’LAKES, INC. Land O’Lakes, Inc. is one of America’s premier agribusiness and food companies. We are a farmer- and retailer-owned cooperative with industry-leading operations that span the agricultural ecosystem — from production to consumer foods.

2021 BY THE NUMBERS

$16B

IN NET SALES

Built on a legacy of more than 100 years of operation, we have some of the most respected brands in agribusiness and food products in our four businesses — Dairy Foods, Animal Nutrition, Crop Inputs and Truterra. Our company operates in all 50 states and more than 60 countries.

For more information, view our 2021 Annual Report.

3,100+ MEMBEROWNERS

9,000 EMPLOYEES

NEARLY

300 FACILITIES

ABOUT THIS REPORT This report covers Land O’Lakes, Inc. environmental, social and governance (ESG) topics and activities spanning calendar years 2020 and 2021. Certain data regarding employee population, the board of directors and representation of employees references the most up-to-date information available during the publication of this report in spring 2022. This report, our first enterprise responsibility update since 2019, represents our most comprehensive

report to date and is the first to reference Global Reporting Initiative (GRI) standards. We conducted a materiality assessment in Q4 of 2020 that identified key focus areas for Land O’Lakes, Inc. More information can be found on the materiality assessment page in the appendix of this report.

Land O’Lakes, Inc. is responsible for the preparation and integrity of the information in this report.

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Put Farmers and Retailers at the Heart of Creating a Better World For All of Us.

DAIRY FOODS

ANIMAL NUTRITION

FARMERS & AG RETAILERS

CROP INPUTS

TRUTERRA LAND O’LAKES, INC. ESG REP ORT

DEAR STAKEHOLDERS, A century ago, Land O’Lakes, Inc. was founded by farmers, for farmers. These men and women worked hard, took care of their land and animals, looked after their neighbors, and recognized that we all do better when we work together. They understood then, as we do now, the power of community and the cooperative to not only meet the needs of the day, but to chart a stronger course for tomorrow.

That same strength and character continues to drive us today. Land O’Lakes has grown into a Fortune 200 business with a diversified network that touches half of the harvested acres in the United States. Our members, who live and work in rural communities across the country, are entrepreneurs who are truly changing the world for the better.

Those members also make up our leadership. Our Board of Directors is comprised of farmers and local retailers, and we represent their work in the world every day. As we’ve grown, we’ve always understood our role as a force for good in our communities and for our planet. And, like our founders, we remain rooted in tomorrow.

As a cooperative, we know progress isn’t possible without partnership. We’re working to convene, collaborate and innovate across our business: whether it’s sequestering nearly 200,000 metric tons of carbon (and returning nearly $4 million to farmers) with Truterra’s inaugural carbon program in 2021; launching our Dairy 2025 Commitment to help our 1,600 member-owners reduce their individual environmental footprint; or working to bridge the digital divide by expanding muchneeded broadband service to rural communities through the American Connection Project.

Building on our longstanding commitment to social responsibility, in 2021, we formalized our enterprise-wide environmental, social and governance (ESG) strategy, formalizing 14 goals aligned with the United Nations Sustainable Development Goals. From committing to reaching net zero by 2050 in our Scopes 1, 2 and 3 emissions, to using 100% reusable, recyclable or compostable consumer packaging by 2030, to reducing waste to landfill by 50% by 2030, to other targeted goals focused on diversity, equity and inclusion, sustainable sourcing, support for smallholder farmers and more, these ESG goals will guide us as we work in areas where we can have the most impact.

By standing together as a cooperative of retailer owners, local cooperatives and farmers, we can create a sustainable future, help ensure a safe and plentiful food supply, and work to ensure vibrant communities.

You can learn more about our ESG efforts and progress in the pages that follow. We thank you for your support. We look forward to sharing more as we, with our farmer- and retail-owners at the heart of our efforts, continue our journey to create a better world.

Beth Ford President and CEO Land O’Lakes, Inc.

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LAND O’LAKES GOVERNANCE CORPORATE GOVERNANCE Founded in 1921, Land O’Lakes, Inc. is a member-owned agricultural cooperative based in Arden Hills, Minnesota, focused on growth through innovation and strong, consistent performance. As a member-governed co-op, we’re committed to the idea that we are stronger when we work together – a principle that’s reflected in our unique corporate governance structure.

The Land O’Lakes Board of Directors is made up of farmers, producers and retail general managers who are also our customers and suppliers. Our board is made up of 20 member-elected directors – 9 representing dairy regions; 11 representing ag retail – and 4 advisory directors who provide deep subject matter expertise in a variety of areas. We are committed to promoting diversity and inclusion at all levels of our company, including our board. Currently, four of our directors are women and one is a person of color.

We have eight regions – three dairy and five ag. Board nominations take place by region, with the number of directors based on the amount of business conducted with the cooperative by that region’s members. The company’s bylaws require that we re-evaluate the boundaries of the regions and the number of directors from each region at

LAND O’LAKES, INC. ESG REP ORT | LAND O’LAKES GOVERNANCE

least once every four years to ensure they best reflect the proportion of business with members in each area.

The Land O’Lakes board governs the company’s affairs in the same manner as the boards of typical corporations. It is responsible for determining business objectives, policies and financial controls – and hires the CEO to conduct day-to-day business operations. The Board has six standing committees – Operating, Executive, Audit and Risk, Policy, Governance and Land O’Lakes Foundation.

Directors are elected to four-year terms in elections at the company’s annual meeting by voting members in a manner similar to a typical corporation. There are no outside investors serving on the board. Elected Board members have an age limit of 65 and can have no more than 20 years of noncontinuous service.

Leveraging our regional governance structure, we use a grassroots leadership development approach to recruit and interview future board candidates to keep our talent pipeline strong. This helps us build the next generation of leadership at Land O’Lakes – leadership that will take us through the next 100 years.

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ESG GOVERNANCE To accelerate our environmental, social and governance (ESG) efforts, in mid-2020 we established the Land O’Lakes Sustainability Council, which is composed of 12 senior leaders representing our business units and corporate functions.

The Council, which meets monthly, ensures alignment across the enterprise with respect to sustainability initiatives, opportunities, progress and risks. The Council provides regular ESG updates to the Board of Directors.

Our Diversity, Equity and Inclusion (DEI) Executive Council governs all DEI efforts across Land O’Lakes. Co-led by the CEO and Chief Human Resources Officer (CHRO), the Council meets three times per year and is composed of executive sponsors of the company’s 11 Employee Resource Groups (ERGs), along with our Director of Diversity & Inclusion and External Strategic Partnerships, a senior leadership role created in 2017.

Among the Sustainability Council’s key accomplishments include leading the company’s most significant materiality assessment in Q4 of 2020 that helped align to the United Nations Sustainable Development Goals (SDGs), establishing our ESG commitments, and the development of this report.

The Sustainability Council will oversee a formal materiality assessment refresh every three years going forward, to align materially important ESG topics and identify external and internal impact areas.

Among the DEI Executive Council’s key accomplishments include establishing DEI goals and measurement for Land O’Lakes and requiring unconscious bias training for all people leaders. The DEI Executive Council meets annually with our DEI Enrichment Council (composed of ERG leaders plus representatives from HR, Recruiting and Community Relations) to discuss ERG achievements, impact and growth plans. See the Diversity, Equity and Inclusion section of this report to learn more.

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BUILDING A CULTURE OF SUSTAINABILITY We understand the importance of a sustainable economy and are increasingly integrating sustainability strategy – and investing in key resources – into critical parts of our business to align with stakeholder expectations and business need.

From an organizational structure standpoint, we have a division within our Member Relations team dedicated to helping our members with on-farm sustainability efforts and sustainability assessments, including our Dairy 2025 Commitment.

In 2019, we created a new enterprise position (Director of Circular Economy) in our Supply Chain organization to lead the development, planning and implementation of ESG strategies and tactics across the organization. And in 2020, we expanded the role of the Sustainability Manager within our Environment, Health and Safety (EHS) organization to include full scope 1, 2 and 3 carbon footprint accounting.

To underscore our commitment to sustainability, we’re building important organizational infrastructure and have recently added several new positions embedded within our business units – notably, a Director of Dairy Sustainability to lead the strategy, implementation and measurement efforts for Dairy Foods, as well as 17 new positions in Truterra, our

sustainability business that helps scale on-farm stewardship.

In addition, WinField United and Truterra are increasingly collaborating and have developed internal goals that incentivize working with our retail-owners to support farmers in their transition to profitable and climate-smart agricultural practices. WinField United is also working on a soil health initiative to help farmers identify solutions that support positive environmental outcomes and prepare them for potential future climate solution markets. Our Animal Nutrition business is actively investing in research and technology to optimize animal efficiency and health and reduce our carbon footprint.

Within the organization, we provide opportunities for employees to engage through our Sustainability Champions program and Land O’Lakes Green Team.

Sponsored by our Environmental, Health and Safety (EHS) team, the annual Sustainability Champions competition encourages higher sustainability standards within our supply chain and operations – and recognizes those who demonstrate exemplary achievements in environmental sustainability. Any Land O’Lakes facility or operational team is eligible to be nominated.

The Green Team and our Young Professionals Network Employee Resource Group spent an afternoon volunteering at a local nonprofit organization that supports gardening, educational entrepreneurship and youth conservation programming.

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SUSTAINABILITY CHAMPIONS The Sustainability Champions program recognizes employees and plant teams who identify environmental efficiencies and implement operational changes. Projects are evaluated based on results, innovation and initiative in the following categories:

ENVIRONMENTAL IMPACT AWARD Recognizes measurable improvements in energy, water, solid waste or emissions.

INNOVATION AWARD Highlights creativity in developing solutions to an environmental issue.

INITIATIVE AWARD Exemplifies the best environmental project of the year.

From lighting upgrades and recycling projects to process improvements and educational initiatives, the Sustainability Champions program is a great way to harness the dedication and innovation of our plant teams.

One example is our Dairy Foods facility in Kent, Ohio, a perennial award winner. In 2019, the team found a way to reuse the condensate from the rooftop air handling units, saving the plant more than 202,000 gallons of water for re-use per year. In 2021, the team saved nearly 1.4 million gallons of water through another effort – thanks to an entrepreneurial employee. He noticed that a vacuum pump was supplying more water than was needed and ended up installing a valve at the pump to adjust the water volume – a fix that ended up saving more than $10,000 in annualized water costs.

“Being able to see sustainability opportunity in even the smallest of things is key to finding cool projects like these,” said Josh Becking, EHS manager at the Kent plant.

The Green Team is an action-oriented, sustainability-focused Land O’Lakes employee group. Team members meet monthly to discuss current sustainability topics and plan engagement events throughout the year. In 2021, they hosted four events – including a volunteer event supporting a non-profit that aims to alleviate food insecurity and reduce food waste by connecting farms with a surplus of fresh produce to communities in need.

The Green Team also measures and tracks key performance metrics at the corporate campus in Arden Hills, Minnesota, to inform and implement value-added sustainability initiatives.

This year, the focus is preventing and reducing food waste – individually, as a company and within our community.

As sustainability expectations and business needs increase, we will continue to strengthen our culture of sustainability and report on our progress.

LAND O’LAKES, INC. ESG REP ORT | LAND O’LAKES GOVERNANCE

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LAND O’LAKES CODE OF CONDUCT In 1921, a group of Midwest farmers – entrepreneurs united by mutual trust and cooperation – joined forces to create new market opportunities. Land O’Lakes was founded on the principles of integrity, fairness, honesty and respect for individuals. It is who we are and who we have always been.

We recognize our responsibility to our members, employees and society – and we’re committed to conducting our business operations and activities in compliance with all applicable laws, regulations, policies and the basic tenets of business honesty and integrity.

We have 45 comprehensive enterprise policies in place to communicate – and hold each other accountable to – these high ethical standards.

These policies include, but aren’t limited to: • Business Ethics • Health and Safety • Product Safety and Quality • Environmental • Anti-Corruption/Anti-Bribery • Antitrust • Conflicts of Interest • Appropriate Behavior for the Work Environment

At Land O’Lakes, our approach goes well beyond compliance.

It’s embedded into the very fabric of our culture.

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Every decision we make – and every action we take – is focused on doing the right thing, every time. This commitment is embodied in the Land O’Lakes Code of Conduct.

Our Employee Code of Conduct is a set of legal and ethical principles to help employees understand the Company’s expectations. The Code of Conduct is also Land O’Lakes’ public commitment to the highest ethical standards. Every employee is required to make sure their words, actions and decisions meet those standards – every day.

Our Supplier Code of Conduct outlines the standards that our suppliers and vendors must follow, to ensure healthy working conditions and fair compensation. These standards are based on the principles of the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work and the Ten Principles of the UN Global Compact.

Sometimes, doing the right thing means reaching out and speaking up. While we offer several internal channels for employees to ask a question or raise a concern (including their managers, HR business partners and members of the Legal team), we understand they may feel more comfortable using another option.

To foster a culture of integrity and ethical decision-making, employees, suppliers and other stakeholders who have questions or concerns about unethical or unlawful behavior are encouraged to contact the Land O’Lakes Connect Hotline, a confidential hotline managed by an independent third party. The hotline is available 24/7 by telephone or online and offered in multiple languages.

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OUR PILLARS OF IMPACT AND GOALS At Land O’Lakes, we believe in creating a better world for all of us. We’re uniquely built to take on this role with a coop ownership model that we’re deeply proud of, a 100-year legacy of innovation and four diverse businesses actively working to shape the future of agriculture.

Our core purpose is to put farmers and ag retailers at the heart of creating a better world for all of us. And we know that our impact is best expressed when we work together.

In 2020, we accelerated our environmental, social and governance (ESG) efforts by forming the Land O’Lakes Sustainability Council and a cross-functional task force.

In Q4 of 2020, we conducted a comprehensive materiality assessment, where we defined our most materially important areas of impact and identified where these areas align with global standards and initiatives.

This assessment, which is available in the appendix of this report, included inputs from more than 100 internal and external stakeholders – including customers, clients, government agencies, member-owners, NGOs and supply partners.

The materiality assessment then informed which of the United Nations Sustainable Development Goals (SDGs) are the most critical priorities for the company in terms of importance and impact. There are 17 global SDGs that articulate priority areas for progress, which is a shared blueprint for global sustainable development. The five SDGs Land O’Lakes is aligning to are: zero hunger, clean water and sanitation, decent work and economic growth, responsible consumption and production, and climate action. For an expanded definition of how these five SDGs connect to Land O’Lakes, see the chart in the appendix of this report.

Following the alignment of the five SDGs, we formalized 14 enterprise ESG goals. This report is framed under our three new pillars of impact for the Land O’Lakes brand:

SUSTAINABLE FUTURES

Advocating for a future where agriculture helps solve the world’s most pressing issues.

SAFE AND PLENTIFUL FOOD SUPPLY

Supporting a secure and stable food system that feeds the world and grows the farm economy.

VIBRANT COMMUNITIES

Serving and growing the communities where our employees, members and customers live and work.

New for 2021, this report references the Global Reporting Initiative (GRI) standards. GRI is the independent, international organization that helps businesses and other organizations take responsibility for their impacts by providing them with the global common language to communicate those impacts. The GRI standards are the world’s most widely used standards for sustainability reporting. More information about how Land O’Lakes references the GRI standards can be found on the GRI table in the appendix of this report.

LAND O’LAKES, INC. ESG REP ORT | OUR PILLARS OF IMPAC T & GOALS LAND O’LAKES GOVERNANCE

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LAND O’LAKES ESG GOALS UN SDG ALIGNMENT

KEY

GOALS

On Track

TARGET YEAR

New Goal

PROGRESS

ZERO HUNGER Improved agriculture practices of 1 million smallholder farms

2030

Reduce food waste in standard operational practices by 30%

2030

3 million pounds of in-kind product donations

2030

CLEAN WATER AND SANITATION Increase efficiency of water usage in operations by 15%

2030

DECENT WORK AND ECONOMIC GROWTH Expand supplier equity through increased engagement and expansion of diverse representation

2025

Contribute to community equity through revitalization of rural America

2025

Ensure full and effective participation and equal opportunities for women and minorities within the company

2030

RESPONSIBLE CONSUMPTION AND PRODUCTION 100% sustainably sourced palm oil, cocoa and fiber packaging 100% of member milk supply assessed for environmental impact, including carbon footprint 100% reusable, recyclable or compostable consumer packaging 50% reduction in waste to landfill from operations

2025 2025

2030 2030

CLIMATE ACTION 100% renewable electricity in our operations

2030

Reduce Greenhouse Gas Emissions in alignment with Science Based Targets initiative*

2030

• Reduce scope 1 and 2 emissions by 42% • Reduce scope 3 emissions by 25% Net Zero across all scopes 1, 2 and 3

2050

*Pending validation from SBTi **See appendix for further details on progress LAND O’LAKES, INC. ESG REP ORT | OUR PILLARS OF IMPAC T & GOALS LAND O’LAKES GOVERNANCE

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SUSTAINABLE FUTURES Helping farmers and retailers create a better world for all means advocating for a future where agriculture helps solve the world’s most pressing issues, from climate and environmental restoration to creating a truly resilient industry and economy. The agricultural transformations we create today can guarantee a more sustainable future.

We know climate change is a global threat impacting businesses, families and individuals in communities of all sizes around the world. It’s straining the natural resources that our food production system — and all of life — depend on. The rise in extreme weather events (including heat waves, drought, flooding and wildfires) is something that farmers experience first-hand every day. Because farmers clearly

understand how this threat impacts their livelihoods, they’re always looking for new ways to produce more sustainably – and to improve and future-proof their business.

Agriculture has tremendous potential to drive high-impact solutions that help preserve the health of the planet, and Land O’Lakes is in a unique position with more than a century of experience rooted in helping dairy, livestock and row crop producers advance their productivity and economic success. We take an “all of the above” ecosystem approach to advancing sustainability and resiliency across our membership and in our own supply chain. And we have strong partnerships in place to help scale.

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SCALING CLIMATE-SMART AGRICULTURE Our enterprise has an array of programs and initiatives that are already helping farmers adopt climate-smart agricultural practices aimed to reduce greenhouse gas emissions and improve soil health by sequestering carbon. Additionally, based on the science-based target commitment we are working toward with emissions, we are actively pursuing opportunities

DAIRY FOODS Dairy Foods is focused on achieving both our own and our customers’ sustainability commitments that will keep our farmer-members on the leading edge of climate-smart best practices. This is achieved through on-farm sustainability assessments we are working toward for all our dairy members, innovative financing solutions and strategic partnerships to help members advance their operations’ economic and environmental performance.

ANIMAL NUTRITION Animal Nutrition develops products and diets that optimize feed intake, improve manure management and support livestock health and resilience. Animal Nutrition also partners professional animal nutritionists with producers to tackle challenges and find solutions to help support improved profitability and animal production efficiency.

with insetting, and are uniquely positioned to leverage our internal expertise with our sustainability business unit, Truterra, to verify, quantify and monitor our progress toward this goal.

Each part of Land O’Lakes plays a role in helping farmers identify and adopt systems for on-farm conservation management:

CROP INPUTS WinField United, our crop inputs and insights business, is all about helping farmers have the most profitable season possible with the latest products, services and innovative technology. By providing data-driven tools and localized insights, they help farmers make environmentally and economically sound decisions. WinField United deploys services like the Advanced Acre® Rx prescription program through the Land O’Lakes agriculture retailer-owner network to help farmers benchmark soil health, support profitability and develop soil and nitrogen management optimization plans to improve efficiency, and support improved environmental outcomes. Additionally, whollyowned subsidiary Forage Genetics International (FGI) is a world leader in value-added alfalfa and is advancing research to meet grower’s needs. Alfalfa has unique benefits when it comes to sustainability because of its deep root structure and perennial cropping, which helps build soil organic matter and reduces tillage, preventing soil erosion and enhancing water quality.

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TRUTERRA Truterra, our sustainability business, helps scale on-farm stewardship by working with and through the infrastructure farmers rely on for trusted advice and services – their ag retailer. The Truterra business is built on the idea that farmer return-on-investment can generate environmental return-on-investment. With access to conservation expertise and the latest tools and technology, Truterra helps farmers make decisions about managing their soil – such as adopting minimum or no-till practices, optimizing fertilizer management or planting cover crops – that can both maximize yields and expand stewardship. Truterra collaborates with conservation organizations, government agencies (including USDA’s Natural Resources Conservation Service) and value chain partners to create new opportunities for added value through innovative market mechanisms such as carbon dioxide removal credits and payfor-success water quality programs.

VENTURE37 Land O’Lakes Venture37 is a 501(c)(3) nonprofit committed to helping communities around the world thrive through agriculture. Venture37 has more than 40 years of experience implementing agricultural development projects in more than 80 countries around the world. Venture37 helps strengthens economies by delivering integrated solutions designed to help build and improve food and agriculture systems through more competitive markets, more resilient systems, healthier and more nutrition-secure communities and more inclusive societies. Through projects such as the Feed the Future Mozambique Resilient Agricultural Markets Activity – Beira Corridor (RAMA-BC) project, Venture37 is advancing the adoption of affordable and sustainable climate-smart agriculture technologies and practices, which mitigate the effects of climate change, while helping communities adapt and respond to it.

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COLLABORATING WITHIN THE INDUSTRY As a cooperative, we know that making progress to a more sustainable future can only happen by taking a holistic approach that encourages collaboration within the industry – and partnership across the entire agricultural supply chain.

Land O’Lakes is proud to take a leadership role in this area, most notably with the Innovation Center for U.S. Dairy, an organization that works with leaders from across the dairy value chain, and the Consumer Goods Forum (CGF), a CEO-led consortium of global retailers and manufacturers dedicated to building consumer trust and driving positive change.

To advance sustainability leadership across the dairy community, Land O’Lakes adopted the Innovation Center’s U.S. Dairy Stewardship Commitment. Companies that voluntarily adopt the Stewardship Commitment agree to follow a rigorous set of standards that demonstrate positive impact and contribute to U.S. dairy’s ability to track, aggregate and report on progress. As part of this Commitment, members (including Land O’Lakes) pledge to achieve greenhouse gas neutrality, optimize water use while maximizing recycling and improve water quality by optimizing utilization of manure and nutrients by 2050.

With respect to the CGF, we actively participate in its Sustainable Supply Chain Initiative and Plastic Waste Coalition of Action: The Sustainable Supply Chain Initiative (SCCI) is the benchmark of choice for sustainability compliance standards in the consumer goods industry. The initiative seeks to provide clear guidance to buyers and suppliers on which third-party auditing, monitoring and certification schemes cover key sustainability requirements and apply relevant governance and verification. SCCI is currently focused on benchmarking social compliance programs and will expand its benchmark to environmental compliance programs – including standards for water use, land management, soil health and carbon emissions.

“Supply chains are incredibly complex and

interconnected – something that we all saw

first-hand during the past two years with

the pandemic. We need to move from

a patchwork approach of schemes and

verifications to a common and transparent

set of standards used across the industry. We

need collaboration up and down the entire

supply chain – from farm to consumer.”

- Yone Dewberry, Chief Supply Chain Officer

We’re among a group of 40 retailers and manufacturers that belong to the CGF’s Coalition of Action on Plastic Waste. Founded in 2020, the coalition aims to accelerate the circularity of plastic packaging.

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TRANSFORMATIONAL CARBON PROGRAM In recent years, we’ve seen growing enthusiasm for the critical role farmers and ranchers play in helping to mitigate and offset the impacts of climate change. We believe farmers are central to a low-carbon future and agriculture is in a unique position to provide a source for negative emissions.

In 2021, we announced a transformational new carbon program through our Truterra sustainability business that helps farmers sell carbon assets to private sector buyers.

The program launched with Microsoft as the first secured buyer and was designed to be the most farmer-favorable program on the market with a streamlined process so farmers can focus on crop production and caring for the land.

We saw a very strong response from thousands of farmers from across the U.S. who were interested in working with Truterra and our network of ag retailers. In its first year, the program delivered more than $4 million in cash payments upfront to farmers for sequestering over 200,000 metric tons of carbon.

We’re proud to be an early leader in the agricultural sector focusing on improving adaptation and mitigation resources for farmers. Tapping into our trusted brand reputation and putting the farmer and their economic viability in the driver’s seat has allowed us to be ahead of the curve. The 2021 program delivered an average payment of $20,000 per farmer, with some payments totaling more than $100,000.

“I know that conservation practices are good for our families’ soils and productivity. To see actual dollars come back for the positive impact we’re having was so exciting,” said Lukas Fricke, whose sixth-generation family farm in Nebraska participated in the inaugural program. “Having Truterra and our ag retailer’s support in managing all of the data collection and soil testing was critical so we could stay focused on farming.”

We’re energized by the success of the inaugural program and anticipate growing demand for soil carbon assets from additional buyers. So, in 2022, Truterra is offering two approaches to farmers – one to reward recent adopters for their investment in carbon-sequestering practices and one to engage and support farmers through the process of implementing new practices. And we’re not stopping there.

“It’s critical for us to co-invest with our ag retailer partners along with farmers to support regenerative systems that will help farms become more resilient and derive the most value from every acre,” said Jason Weller, President, Truterra. “We’ve seen strong interest from farmers. They see the Truterra™ carbon program as not only a new revenue stream for their operations, but also an incentive to continue innovating and adopting new practices which help mitigate the damaging and costly impacts of a changing climate on both their operations and our nation’s food supply.”

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FROM MANURE TO RENEWABLE ENERGY Cow manure was once considered nothing more than waste.

Now, it can be considered an important resource and piece of the sustainability puzzle on farms – thanks to a first-ofits-kind collaboration formed in 2018 between Land O’Lakes and California Bioenergy (CalBio), a leading dairy digester developer. Together we’re helping our California dairy member-owners use anaerobic methane digesters to generate renewable energy from farm waste, or “barn-to-biogas.”

The digester is a piece of machinery that separates digested solids from liquid portion of manure for use as fertilizer and captures the methane in the manure and converts it into energy that can power equipment and housing on the farm, while the rest gets sold back to the electrical grid. This renewable compressed natural gas (R-CNG) fuel gets piped into energy resources like mass transportation.

It’s an innovative farmer-led model that can shape nationwide solutions to agricultural methane emissions reduction and unlock new revenue streams for dairy farmers.

It will also help Land O’Lakes dairy member-owners in California meet new state standards that call for a 40% reduction in dairy and livestock manure-related methane emissions from 2013 levels by 2030.

We currently have 22 dairy farms in California with digesters installed or being built, representing approximately 12% of our members’ milk production. These 22 methane digesters have the potential to eliminate 3,583,810 metric tons CO2e over 10 years. That’s equivalent to the GHG emissions of about 77,000 passenger vehicles per year.

LAND O’LAKES, INC. ESG REP ORT | SUSTAINABLE FUTURES

Over the past three years, we’ve actively worked to advocate for the expansion of the project with new farmer and private sector partners – including two new dairy biomethane clusters that went online in California in 2021. Nine Land O’Lakes member dairy farms joined the effort to help reduce methane emissions and produce a total of approximately 8 million diesel gallon equivalents of compressed RNG for the state of California.

“Land O’Lakes member-owners have long paid thoughtful attention to stewarding the land for their communities and future generations,” said Pete Kappelman, Senior Vice President of Member and Government Relations. “Our member-owners are continually working to stay on the cutting-edge of sustainable farming.”

To support our dairy members with the installation of sustainability infrastructure, including methane digesters, we provide up to $20 million of equity-based financing.

This financing is available to help members implement new technologies or management systems focused on driving measurable outcomes for air, soil and/or water. Loans range from $25,000 to $3 million and are available for up to 65% of a member’s equity.

We’re hopeful for what similar work can look like in other parts of the country, as barn-to-biogas becomes the way of the future. And we’re passionate in our belief that farmers must be part of the solution to climate change. By working with key partners to create an innovative farmer-led model for manure to electricity technology, we can help shape nationwide solutions to agricultural methane emissions reduction.

Methane digester in Tulare, CA

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DAIRY 2025 COMMITMENT For food brands to be successful in reducing their carbon footprint, they must have strong partnerships and buy-in – all the way back to the farm. As a farmer and member-owned cooperative, we’ve taken a leadership role in both on-farm sustainability and animal care. And we’re using our position to help customers meet their commitments – and provide new market opportunities for our vast network of famers.

In 2021, we introduced our Dairy 2025 Commitment to keep our dairy farmer members at the forefront of animal care and establish sustainability benchmarks that will guide measurable improvements. This commitment calls for us to work with our more than 1,600 dairy memberowners to complete an intensive, industry-leading on-farm sustainability assessment. This effort is aligned with the U.S. Dairy Stewardship Commitment and maintains universal compliance with the National Milk Producers Federation’s National Dairy Farmers Assuring Responsible Management (FARM) program.

“This new commitment will help us measure our memberowners’ on-farm sustainability footprint to meet our customers’ sustainability goals,” said Tim Leviny, Senior Vice President of Global Dairy Ingredients. “This is just the next step in our company’s longstanding focus on quality, transparency and accountability across our supply chain.”

In addition to this commitment to measurement and continuous improvement, we launched several projects with dairy customers to drive more immediate results. For example, with Bel Brands, we started a project to increase the use of cover crops and other sustainable agricultural practices among our member-owners who ship milk to Bel Brands’ facilities.

We’re also working with The Hershey Company and The Alliance for the Chesapeake Bay to implement on-farm best management practices that reduce greenhouse gas emissions and help improve water quality in the Chesapeake Bay and other regional watersheds. In 2021, Hershey committed $300,000 to install agricultural conservation practices on 119 Our Dairy 2025 Commitment is a large-scale measurement Land O’Lakes member dairy farms in central Pennsylvania project intended to yield more than 250 on-farm sustainability that supply milk to Hershey. As funding and support grows, data points per farm – including actionable information on the partnership has the potential to reach more than 400 fuel, electricity and water usage, nutrient application, crop member farms supplying milk to Hershey. rotation and manure management. Using this data, we will design more opportunities for farmer-members to improve onSupporting on-farm sustainability is an important part of farm efficiency and further reduce their environmental footprint. helping to mitigate climate change, and we’ll continue to work with partners like this to keep moving forward.

So far, more than 50% (800+) of our members and 70% of our milk supply have already completed an initial assessment and are working on continual improvement practices to reduce their individual environmental footprint.

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LAND STEWARDSHIP INITIATIVE By partnering with farmers, we believe that we can tackle the world’s most pressing issues. Another example is the Land Stewardship Initiative, a pay-for-performance, publicprivate collaborative program in Dubuque County, Iowa.

Results were impressive. Participating acres were net carbon negative (sequestering nearly two times as much greenhouse gases in 2021 as emitted in 2020), local water quality improved and farmers will receive an average return of $33 per acre.

The initiative was launched by Dubuque County, the Dubuque Soil & Water Conservation District, Truterra and ag retailer Innovative Ag Services (IAS). In its first year, the program worked with 26 participating farmers across nearly 2,800 acres to adopt more sustainable farming practices to improve soil health and water quality, with a particular focus on creating a healthier watershed.

“It was valuable for me to receive some financial and technical support to try out several new conservation practices I’d been considering,” said Terry Harder, a participating farmer. “It’s also rewarding to have new data in hand about my farm’s performance that I can use to inform future decision-making.”

Using data-driven insights from the Truterra™ sustainability tool, farmers were able to implement the conservation practices that worked best for their operations – and were rewarded for holistic improvements in the environmental impact of their land.

These results build confidence in the benefits of voluntary, incentive-based approaches to improve water quality. Funding has been approved for the project in 2022 to provide another round of financial incentives and technical support for farmers in Dubuque County. And we believe this model can be replicated and scaled in other communities across the country.

LAND STEWARDSHIP INITIATIVE PROJECT SUCCESS: Local water quality improvements by the numbers

21.9

Pounds per acre reduction in amount of nitrogen lost from fields to local waterways

2.67

Pounds per acre reduction in phosphorus lost from fields to local waterways

1/6

Reduction in sheet rill erosion between 2020 and 2021, keeping soil on the field

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SUSTAINABLE FUTURES: ADDITIONAL EXAMPLES PURINA RECYCLING PARTNERSHIP Every year, U.S. ranchers and ag retailers struggle to dispose of roughly 7.6 million empty plastic feed tubs produced by the feed industry. The Purina Recycling Partnership – which originally launched in 2019 and expanded in 2021 – provides customers with a sustainable solution for recycling empty tubs. The used tubs are made into eco-friendly, plastic benches and other ag products – which is an excellent example of the circular economy in action. Since 2019, the program has expanded and the new innovative Clear View tub brings a unique solution that enables the program to continue to grow.

AG CONTAINER RECYCLING WinField United is one of 50 companies that funds the Ag Container Recycling Council (ACRC). The non-profit works with thousands of farmers, retailers and applicators across the U.S. to recycle agricultural chemical container plastic. This amounts to an average of 10 million pounds per year – including nearly 300,000 pounds of plastic collected in 13 states, on behalf of WinField United in 2021.

STRUCTURED DELIVERIES To enhance the customer experience through reliable and predictable deliveries and improve transportation efficiencies, we’ve been implementing structured deliveries across our fleet of trucks. At WinField United, we recently invested in a new product ordering platform that enables greater transportation efficiency for about 500 retail owners across 1,200 locations. Thanks to the structured delivery initiative and partnership with owners to operate an efficient end-to-end supply chain, we were able to ship 4% more volume in 2021 than 2020, but with 38% fewer shipments. That means 12,000 fewer shipments – and one million fewer miles traveled – which reduced carbon emissions by about 1,400 metric tons.

The winner of the Purina Tub Bench, Gary Priesmeyer from Bryan, Texas (left) and (right) Aaron Novasod, Purina Sales Specialist.

LEED CERTIFICATION Aligned with our company’s focus on sustainability, we’re proud that the newest building on our corporate campus in Arden Hills, Minnesota, is LEED Platinum certified. With 58% in energy savings – thanks to features like above-ground roof water collection for irrigation and energy-efficient mechanical systems – the space also features native plants, droughtresistant trees and repurposed salvaged ash trees for millwork.

INVESTING IN SOLAR Recognizing the importance of renewable energy to build a more sustainable future, Land O’Lakes is investing in community solar and installations that generate electricity during the day to feed the local grid. This includes a new project in Texas, and eight community solar garden projects across southeastern Minnesota, which generate about 5 million kilowatt hours per year to offset greenhouse gas emissions.

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SAFE & PLENTIFUL FOOD SUPPLY Helping farmers and retailers create a better world for all means supporting a secure and stable food system that feeds our world and grows the farm economy. Our unique cooperative model allows us to create the connections that innovate the food chain and supercharge the future potential of agriculture.

The world’s population is expected to grow 24% to nearly 10 billion people by 2050, according to the United Nations.

This means we’ve got to work together – across continents, cultures and markets – to make abundant, nutritious food

available so everyone can realize their full potential. And we need to do this in a way that sustains the health of our planet.

As a farmer- and member-owned cooperative, we have the unique ability to create the connections that innovate the food chain and supercharge agriculture’s potential. Food security is national security, and we are committed to helping our owners feed the world by delivering a comprehensive suite of products and services and investing in technologies needed to innovate and move us into the future.

COMMITMENT TO PRODUCT SAFETY & QUALITY Having a safe and plentiful food supply starts with a commitment to product safety and quality. These core principles have been embedded in our culture since 1921, when a group of Midwest farmers came together to offer a sweet cream butter at a premium price, instead of using sour cream to make butter. A century later, our products remain at the highest level of quality and are used by millions of families, farmers and consumers across the nation.

Our commitment to safety is reflected in our robust product safety plans, management commitment and employee education and training. We ensure that all our ingredients are sourced from trusted providers who care about quality and safety just as much as we do. And we make sure that every product that leaves our facilities meets our quality standards and is delivered with care.

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“As food producers, we have a unique responsibility. We don’t just plant and grow, harvest, manufacture and distribute food. . . we have to earn trust. Day by day, year after year, every product, every opportunity, every time without fail. This trust empowers our reputation.

Food safety and quality both begin with trust.”

- Beth Ford, Land O’Lakes President and CEO

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QUALITY MISSION To deliver uncompromising product safety, delight our customers with exceptional quality and service, unlock business potential through regulatory insights, and shape our external environment.

QUALITY VALUES • EVIDENCE-based decision making • Strengthened PARTNERSHIPS to drive the best results • A focus on PREVENTION vs. reaction or complacency

• INTEGRITY to respond appropriately and build trust • CONSISTENCY through a standardized, systems-based approach • CURIOSITY to continue learning

Product Safety and Quality is impertive throughout the supply chain, We work closely with several stakeholders, including:

We use an enterprisewide Quality Management System, which provides the standards that must be met by both our own facilities and those of our external business partners (ingredient and packaging suppliers, licensees, contract manufacturers and joint venture partners).

• Food and feed suppliers • Dairy manufacturing sites • Feed and milk replacer manufacturing sites • Co-manufacturers • Joint venture partners • Licensees

A Land O’Lakes approved external business partner must meet requirements in several areas: customer and consumer relations, document and record management, external business partner management, management commitment, personnel training/education/qualification, product integrity, regulatory compliance and site management, among others.

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PRODUCT SAFETY PLANS We regard our Product Safety Plans as the cornerstone of product safety. Our Product Safety Plans utilize the principles of Hazard Analysis Critical Control Point (HACCP) as well as Risk Based Preventive Controls as laid out by the U.S. Food and Drug Administration. These are internationally recognized food safety management systems in which food safety is addressed through the analysis and control of biological, chemical, and physical hazards from raw material production, procurement and handling, to manufacturing, distribution and consumption of the finished product.

All Land O’Lakes facilities that manufacture human food and animal feed products have an approved Product Safety Plan in place, as well as targeted assessments. An integral part of our

Quality Management System, our Product Safety Plans work in conjunction with the prerequisite programs necessary for producing high-quality products. These programs include, but aren’t limited to: • Good manufacturing practices • Sanitation • Chemical control • Pest control • Trace/recall • Employee training • Specification control • Allergen management • Supplier control • Antibiotic testing (where applicable)

QUALITY ANIMAL CARE We’re committed to ensuring the well-being of the animals in our care through our leadership participation in and adherence to animal care standards outlined in the Farmers Assuring Responsible Management® (FARM) program.

evaluations and annual third-party verification. Land O’Lakes is committed to continuing to raise the standards in animal care over time. Continuous improvement is at the core of the program and is implemented throughout the three-step process.

As a demonstration of our commitment, participating in the FARM program is a mandatory condition of selling milk to Land O’Lakes. Today, 100% of our member milk supply is FARM-verified. The FARM program provides consistency and uniformity to best practices in animal care and quality assurance in the dairy industry.

To help support this continuous improvement focus, we’re a member of the FARM Workforce Development Initiative, a new effort which equips dairy owners and managers with guidance and best practices to promote safe and thriving work environments. This includes educational materials (such as HR and safety manuals) and on-farm evaluation tools to help farms implement best practices.

Land O’Lakes’ adherence to the program is organized into a three-step process that includes producer education, on-farm

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INNOVATIONS IN ANIMAL NUTRITION The efficient and secure supply of meat, milk and eggs depends on animal nutrition and well-being.

Here are some of the ways we’re accomplishing this within Animal Nutrition research and development:

NUTRITION • Designing diets that support animal health and performance by optimizing feed efficiency – including the use of alternative energy sources such as distiller grains or bi-products from other industries that would otherwise result in waste.

• Using enzyme technologies to optimize digestion and nutrient availability.

• Our EcoCare® Nutrition high-protein, high-fiber diets help increase pig water intake, which impacts manure. Pigs fed EcoCare® feeds produce 14% less manure solids on average, which means less off gases.

FOOD SAFETY • Researching how to address the risk of food-borne pathogens from entering the food chain.

• Using the latest technology to better understand how to address historical, as well as, emerging pathogens.

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INNOVATIONS IN CROP INPUTS & INSIGHTS Throughout Land O’Lakes, we have teams dedicated to research & development to continually improve the quality of our products and services and adapt to the changing face of agriculture.

We have a state-of-the-art Wind Tunnel Lab to create the perfect spray droplet so farmers can make precise applications on crops to help optimize their yields and reduce waste.

Having a safe and plentiful food supply to feed the world and grow the farm economy requires us to leverage innovation.

That’s where the WinField United Innovation Center comes in.

It’s a 55,000-square-foot hub in River Falls, Wisconsin, that’s dedicated to cutting-edge agronomic research and product development. We built it for one reason: To provide farmers with the products and technologies that get the most out of every acre.

Because field conditions can be inconsistent and unpredictable, researchers at the Innovation Center found a way to replicate that environment inside the lab. Since 2007, WinField United scientists have used lasers combined with high-speed photography in their research. In 2021, the lab finalized construction on a new wind tunnel, which allows researchers to replicate true-to-life field conditions for any region, nearly any wind condition, and even for aerial application.

Our product development and research is rigorous and comprehensive. We test products year-round in our greenhouse and growth chambers. Our chemistry labs let us streamline testing materials to efficiently develop new products. We test product compatibility and seed coverage then simulate planting and emergence conditions. We also study plant performance factors, like nutrient uptake and stress management, so we can help farmers deliver the exact nutrients plants need at the most beneficial times.

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In fact, our patented Spray Analysis System is one of only a few in the world. We use it to simulate real-world conditions as we test an almost endless combination of active ingredients, spray nozzles and tank mixes, with the goal of identifying the best combination for the most targeted applications.

Thanks to rigorous, data-backed research and product development like the work at the WinField United Innovation Center, Land O’Lakes is well positioned to help farmers sustainably grow more food with fewer resources – and lead when it comes to modernizing agribusiness.

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Smallholder farmer Liliana stands near her intercropped maize with her child in Hombwa village, Mozambique. The RAMA-BC project demonstrates climate-sensitive agriculture practices, such as intercropping, to smallholder farmers in central Mozambique.

ABUNDANT FOOD, UNLIMITED POTENTIAL Land O’Lakes Venture37, our nonprofit committed to helping communities around the world thrive through agriculture, is focused on long-term, human-centered impact.

We invest in agriculture to help people everywhere realize their full potential. From farmer to consumer, we cultivate competitive, inclusive markets that foster healthy, resilient livelihoods for all. Since 1981, we’ve provided market insights and technical expertise to agricultural development projects in more than 80 countries.

In 2021, Venture37 continued to serve people around the world during a historically difficult year, helping smallholder farmers and small to medium-sized agribusinesses boost trade and access new markets, while helping contributing to a safe and reliable food supply.

In Lebanon, during one of most severe economic crises since the mid-19th century, the USAID-funded Lebanon Investment in Quality (LINQ) program, implemented by Venture37,

worked to help agri-businesses and spur economic growth.

As skyrocketing inflation and civil unrest impact farmers and other businesses, LINQ is helping to improve food quality and safety, creating employment and income opportunities and improving women’s participation in the agri-food sector.

Through the USDA Transforming the Assessment and Inspection of Food Businesses (TAIB) program in Egypt, Venture37 worked in close collaboration with Egypt’s National Food Safety Authority (NFSA) and other national food stakeholders to ensure a successful, modern, sciencebased food safety system. For example, Venture37 provided workforce training for NFSA’s inspectorate and helped create 11 new standards and regulations that are increasing trade and food safety within and beyond Egypt’s borders.

With Land O’Lakes’ legacy of product quality and safety — combined with our focus on innovation, insights and investments — we’re well-positioned to support a secure food system that feeds our world and grows the farm economy.

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VIBRANT COMMUNITIES Helping farmers and retailers create a better world for all means serving and growing the communities where our employees, members and customers live and work.

As a farmer- and member-owned cooperative, our success is inextricably linked to the health and well-being of our employees and those who produce our food. We care deeply about lifting up farmers and advocating for rural communities.

Their success is our success. We also recognize that creating a better world happens through the power of cooperation – and is unlocked through our employees and philanthropic efforts.

Our employees are the lifeblood of our company, and we place importance on the growth, development, safety and engagement of our people.

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Looking back on the past two years, we’re deeply aware of the impacts that the COVID-19 pandemic has had on every area of our business – from the supply chain disruptions that impact our farmers and our facilities, to keeping our employees safe and complying with social distancing regulations. The pandemic exacerbated inequities in our rural communities, including critical infrastructure such as broadband connection and access to health care.

As our nation heals from the pandemic, Land O’Lakes will continue efforts to advocate for investment in the communities we call home.

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CLOSING THE DIGITAL DIVIDE IN RURAL AMERICA Land O’Lakes’ roots in rural American run deep. We have feed mills, agriculture service centers and dairy processing plants in more than 150 small towns and rural communities across the U.S. and the collective Land O’Lakes network reaches over 10,000 rural communities across the U.S. According to Broadband Now, about 42 million Americans still lack broadband internet access, most of them in rural and underserved communities. We see first-hand how the lack of connectivity impacts these communities.

In today’s 21st century economy, families, businesses and communities without access to broadband infrastructure risk being left behind. Expanding access to high-speed internet is a critical lifeline for education, health, modern food production and economic growth. Specifically for our members, broadband connectivity is integral to driving the adoption of precision ag and other digital tools that support more productive, profitable and sustainable farming operations.

That’s why we’ve been a vocal advocate for closing the digital divide — a cause that’s become even more urgent over the past two years of the pandemic.

A few years ago, Land O’Lakes convened the American Connection Project (ACP) to create a cohesive national strategy. Since then, we’ve built a 175+-member network of organizations dedicated to expanding broadband access

through advocacy – the American Connection Project Policy Coalition. Together with our partners, we’ve made free, public Wi-Fi available at more than 3,000 locations across the U.S. to provide an imperfect solution in the near-term.

We know that closing the digital divide isn’t just about connecting communities, it’s about building capacity to understand the opportunities available, raising awareness about local solutions and empowering them with the tools build local economies. So, in April 2021, we launched the American Connection Corps, a new, boots-on-the-ground fellowship program to boost local internet connectivity and the benefits it provides.

In partnership with Lead For America and 20 partner organizations, 50 American Connection Corps Fellows serve in two-year, full-time, paid positions with AmeriCorps status.

Fellows are working to increase digital access and inclusion in their communities by coordinating with local partners to access federal and state resources for broadband access or delivering digital literacy to members of the community. Fellows receive training from higher education institutions in their region for technical assistance, research and innovation. They also connect people in the community with opportunities, mentoring them in starting businesses, nonprofits and community groups that address local needs with an explicit focus on diversity, equity and inclusion.

Maddie Long, an American Connection Corps Fellow supported by Heartland Forward and based in Little Rock, Arkansas, joined Mayor Frank Scott, Jr. to raise awareness for the Emergency Broadband Benefit (EBB) program, a temporary federal discount on internet service and devices. Maddie Long partnered with the office of Mayor Scott to lead much of this work at a grassroots level for the community. Photo courtesy of the City of Little Rock.

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In their first three months alone, the ACC Fellows made a significant impact in closing the digital divide by:

Speed-mapping 2,000+ households for internet service providers and government entities Providing high-speed internet access to 500+ households Distributing 600+ desktops, laptops and tablets to community members

The Fellows also applied for grants, coordinated digital literacy workshops, distributed thousands of marketing materials to residents and established new community partnerships — including digital literacy curriculums in schools.

“I’m so excited to work with our local schools to help our students gain skills in digital literacy and computer science,” said Amalia Murguia, ACC Fellow in Kansas. “As we move forward with technology, these skills will only become more useful to students as they graduate. I’m hopeful we can help lay a good foundation of being smart and careful while using the internet and its tools to their full capabilities.”

Distributing Tech Tools to Those Who Need Them Most James Clark used technology to help preserve the Ojibwe language and culture among the Mille Lacs Band of Ojibwe in Minnesota. He distributed tablets to aid in his educational initiatives. Another ACC Fellow, Nathan Palmer, is serving PCs for People in Chicago. He and the team refurbished and distributed 162 desktops and 36 laptops to community members as part of a statewide initiative to bridge the digital divide in Illinois. Through their efforts, almost 200 families gained access to education, healthcare, and job opportunities they previously could not reach.

We believe the success of the American Connection Corps is a testament to the power of cooperation and partnership. Over the next several years, we expect this program will grow significantly and provide important insights that could inform policymaking at the state and federal levels. The goal is to create a scalable, successful blueprint for economic development – demonstrating one more way to make an impact in communities critical to our success as a nation. This, in addition to meaningful policy change to close the digital divide, will lead to economic opportunity and the revitalization of the communities at the heart of our country.

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EMPLOYEE BENEFITS + TRAINING At Land O’Lakes, Inc., our employees have made us who we are today – one of the premier agribusiness and food companies in the nation. Our goal is to reward and support employees with professional development opportunities and benefits that are comprehensive, cost-effective and meaningful – including some of the best health care, wellness and financial security plans in the marketplace – to make Land O’Lakes a great place to work.

Employees who are full-time or full-time reduced (working 30 or more hours a week) are eligible to participate in all Land O’Lakes benefits. Employees can also cover their dependents, including their spouse or domestic partner (same-sex or opposite sex) and children up to age 26. All benefits start on date of hire. Details about our benefit offerings can be found on our Careers site.

We’re committed to employee development and career growth and believe this is best accomplished through a partnership between employees and their supervisors.

Land O’Lakes provides a variety of tools and resources (internal and external) to guide employees’ professional growth and learning. Internal employee development

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resources include classroom training, online courses, online books, and leadership development programs that cover a wide range of business-related topics.

Specific to product safety and quality, we offer a full suite of training to various employee groups, including: • A comprehensive onboarding in manufacturing plant quality, with learning activities and resources to support them in their new role.

• Quality training for maintenance teams.

• “Essentials of Product Safety,” a one-day food safety education program, to help corporate employee understand the impact they have on product integrity at Land O’Lakes, as well as customized sessions with cross-functional partners like sales and marketing.

• Product safety plan workshop for Dairy Foods that incorporated basic HACCP principles and new federal regulations.

The Quality Assurance team also provides custom offerings – such as root cause training to assist with EHS investigations and statistical process control training to help drive consistency across the organization by reducing variation in our operational processes.

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EMPLOYEE SAFETY At Land O’Lakes, human safety is a core value and a big part of who we are. Our success will be achieved only through the safe execution of all manufacturing tasks, field operations and headquarters activities. Any shortcuts that compromise safety are unacceptable.

It takes all of us working together to ensure a safe working environment. As a company, we provide the framework and tools and involve employees in injury prevention programs designed to eliminate workplace hazards – encompassing human safety, fleet safety and property protection. Because safety is a shared responsibility, employees are responsible for using safe practices and procedures when working at our facilities.

Land O’Lakes is committed to: • Providing a safe work environment • Building a culture of engagement in safety excellence at all levels of the organization • Continuously improving the safety of our work environments and assets by investing in our people and our facilities • Holding ourselves and others accountable for our safety and the safety of those around us – including suppliers, business partners and other key stakeholders • Identifying and correcting unsafe behaviors and conditions with the goal of preventing all injuries and industrial illnesses • Meeting or exceeding all applicable safety and health regulations These commitments are our promise to our employees, our customers, our members and the communities in which we live and operate. We’re dedicated to ensuring compliance with all federal, state and local safety regulations and laws, including the Occupational Safety and Health Act (OSHA) for plant operations and the Department of Transportation (DOT) for truck fleet operations.

Like our Code of Conduct, our approach to employee safety goes beyond compliance. It’s built into the fabric of our 100-year cooperative culture and championed by our Environment, Health and Safety (EHS) team. We have EHS resources embedded in our business groups. They partner closely with location managers, area managers, regional operations directors and directors of manufacturing to proactively identify and reduce risks across the business.

These strategies are customized to meet the unique needs of each business and its workforce: whether it’s applying best practices to our cleaning protocols to reduce slips, trips and falls at our dairy plants; using robotic palletizers and other ergonomic solutions to engineer out risk at our many material handling operations; or utilizing technology to quantify driver risk to enable targeted training to our many commercial fleet and sales associates.

Each plant is different, and we have location-specific safety plans with measurable goals at each facility. Each site tracks incidents, which roll up to the enterprise level (see below). While our recordable incident rate continues to be better than industry averages, we recognize the impact the COVID-19 pandemic has had on our production workforce over the past two years – including illness and the strain on rural healthcare systems, and the impact of social distancing regulations on things like safety committee meetings and events, and the ways supervisors interact on the floor.

2021 Land O’Lakes, Inc. Global Safety Results • Total Recordable Injury Rate (TRIR) = 2.7 (2.2 without respiratory illness) • Lost Time Injury Rate (LTIR) = 1.1 (.7 without respiratory illness) A recordable incident is defined as a work-related injury, illness or fatality. TRIR refers to the number of recordable incidents per 200,000 work hours.

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DIVERSITY, EQUITY AND INCLUSION AT LAND O’LAKES Diversity, Equity and Inclusion (DEI) is integral to how we show up as a company – to our employees, potential talent, communities and customers. It’s inseparable from our cooperative model and values of integrity, fairness, honesty and respect for individuals. And it’s built into our company’s purpose of building stronger communities and feeding a growing world population.

or gender—has a level playing field. As a company, we have a responsibility to advance fairness, justice, equity, and inclusion in our business – and in our community. We elevate DEI as a key driver of growth for our people, our company and our world – looking at the entirety of employee needs.

We value and respect the perspectives, experiences and talents of all individuals. We’re working toward a state where everyone—regardless of ethnic background, country of origin, age, physical ability or disability, race, sexual orientation

WORKFORCE – who we’re hiring and how WORKPLACE – how it feels to be here MARKETPLACE – engaging partners and customers COMMUNITY – engaging communities

Our DEI strategy is focused on four pillars that put equity into action at Land O’Lakes:

REPRESENTATION AT LAND O’LAKES EMPLOYEE POPULATION

SUPERVISOR AND ABOVE

VP AND ABOVE

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GENDER DIVERSITY

55% Men / 45% Women GENDER DIVERSITY

69% Men / 31% Women GENDER DIVERSITY

64% Men / 36% Women

11% RACIAL DIVERSITY

12% RACIAL DIVERSITY

7% RACIAL DIVERSITY

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WORKFORCE When we create a more inclusive environment, we in turn create a better experience for our members and the agricultural industry at large. At Land O’Lakes, we’re committed to building our talent bench and pipeline by attracting more diverse candidates through inclusive recruiting efforts and external partnerships.

Out of the country’s 3.4 million producers, less than 2% of U.S. farmers identify as Black, according to the Census of Agriculture.

And just 22% of students who graduated with an Agriculture Bachelor’s Degree in 2017 identified as being from a racial or ethnic minority group, according to the U.S. Census Bureau.

In 2020, we introduced a Racial Equity and Social Justice (RESJ) committee at Land O’Lakes, with representation from HR, DEI, Government Relations, Member Relations, Community Relations and Land O’Lakes Foundation, as well as our Employee Resource Groups (ERGs).

The goal of RESJ is to align our enterprise DEI initiatives and recommend actions to create a positive impact. Part of our RESJ work has been done in partnership with the Business Roundtable, including the Multiple Pathways Initiative. This workforce initiative strives to place a greater emphasis on an individual’s skills (vs. credentials) when it comes to hiring and advancement, to improve equity and diversity in employment.

We’re taking steps to expand agricultural career paths for people of color – through partnerships between our African Ancestry Employee Resource Group (ERG), Historically Black Colleges and Universities (HBCUs), Minorities in Agriculture, Natural Resources, and Related Sciences (MANRRS), the African Immigrant Professional Development Conference and the National Urban League.

Most notably, we’re proud to partner with MANRRS to connect students to internships and full-time career opportunities at Land O’Lakes. MANRRS is a national organization focused on helping racial and ethnic minorities gain personal and professional skills while connecting them to careers in agriculture.

“Many minority students aren’t interested, or don’t know they are interested, in careers in agriculture because they haven’t had that type of exposure,” said MANRRS COO Ebony Webbers. “We are grateful to have such a well-known organization like Land O’Lakes invest in MANRRS and help expose students to the agricultural space.”

Land O’Lakes employees representing our cooperative at the MANRRS National Conference.

Through our partnership with MANRRS, we’ve made more than 100 hires (interns and full-time employees) across the U.S., primarily in our Supply Chain organization – onethird from HBCUs. “We’re proud to work hand-in-hand with MANRRS to build a more diverse workforce and a pipeline for food, agriculture and STEM-related careers,” said Ann Taylor, senior HR director, who represents Land O’Lakes on the advisory board.

In addition, Land O’Lakes has made a $50,000 investment in the Thurgood Marshal College Fund this year, which will support its Leadership Institute, an annual conference for students from 47 HBCUs across the country. Land O’Lakes also has strategic recruitment partnerships with Alabama A&M University and Florida A&M University.

Employees at Land O’Lakes at our Diversity, Equity and Inclusion Summit.

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WORKPLACE Building a diverse organization with an equitable and inclusive culture starts at the top – with leadership commitment. Beth Ford, our president and CEO since 2018, is one of few women leading Fortune 200 companies, and has been recognized by Fortune as one of the World’s 50 Greatest Leaders and Most Powerful Women and named to Fast Company’s Best Leaders list, among other honors. Today, she leads an executive leadership team – six of whom are women (43%) and two of whom are people of color (14%).

Staff members at the Land O’Lakes dairy plant in Tulare, California.

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Our DEI strategy is governed by the DEI Executive Council (co-led by the CEO and CHRO) and actively championed by the DEI Enrichment Council. The Enrichment Council is composed of leaders from all Employee Resource Groups, as well as HR, Recruiting and Community Relations leaders.

It meets monthly to share best practices and discuss development opportunities, in the spirit of cross-collaboration for the betterment of Land O’Lakes. This includes mentorship, sponsorship and professional development.

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EMPLOYEE RESOURCE GROUPS One of the most important ways we strengthen our inclusive workplace at Land O’Lakes is with our Employee Resource Groups (ERGs). These are corporate-sponsored, employeeled groups of employees from traditionally under-represented groups – and the allies who support them. Membership is open to all employees. While each of our 11 ERGs has its own charter and unique area of focus, the pillars are the same – recruitment, retention and promotion, business insights and community relations. Our ERGs are supported with a philanthropic budget each year to sponsor and support community organizations that advance DEI work and causes. And in 2021, our ERGs donated a total $68,500 to over 35 nonprofits across the United States via philanthropic budget and team event grant dollars.

They also offer a sense of community and connectivity for members – and all employees – through activities such as listening forums, learning events, cultural celebrations and more.

We believe ERGs are the key changemakers of our DEI journey at Land O’Lakes. We’re proud to see such high employee participation and engagement, reflecting a growing companywide interest and prioritization of DEI. In 2021, we had over 1,200 employees involved as members of one or more ERG; this brings us to over 13% of our workforce who belong to at least one ERG at Land O’Lakes.

OUR 11 ERGS ARE: African Ancestry: Represents employees with cultural ties to Africa, or interests in African culture, including African American, Caribbean and various African cultures.

Aging Successfully: Promotes the virtues of aging, explores the continuum of aging, and celebrates the unique experiences of later-life careers.

Asian Affinity: Creates a visible and inclusive community where all employees can thrive through employee engagement, networking opportunities and partnership with AsianAmerican communities.

Disability Awareness: Increases disability awareness and the inclusion of individuals with disabilities throughout Land O’Lakes, its suppliers and customers.

Field Inclusion Network: Fosters connection, belonging and an inclusive community within Land O’Lakes supply chain production facilities. In 2021, we expanded to 43 facilities in the Field Inclusion Network.

LOL Amigos: Represents people who identify with and/or have an interest in a diverse array of cultural backgrounds. Members represent more than 20 countries and speak more than six languages.

Parents and Caregivers: Provides community for employees of all family types, at any stage of family life; advocates for company policies that support working parents and caregivers.

Pride Alliance: Provides a safe and inclusive environment for LGBTQ employees and their allies.

Veterans: Supports the recruitment and retention of military hires; builds relationships with military- and veteran-related organizations.

Women’s Leadership Network: Supports the development of women throughout Land O’Lakes, by offering an easy way to network and learn from one other. WLN is our oldest and largest ERG, with three subteams: Women of Color, LINC (supporting women who work in field positions) and Men as Advocates.

Young Professionals Network: Helps connect people who are new to the company, or new to their careers, with those outside of their main function and across business units.

To meet the changing needs of our workforce, we’ll continue to grow and evolve our ERG framework. For example, our newest ERG for parents and caregivers was formed by employees as a result of the pandemic’s impact on working families.

DEI RECOGNITION Land O’Lakes earned a 100% rating on the Human Rights Campaign Foundation’s Corporate Equality Index, placing us as one of the Best Places to Work for LGBTQ+ Equality.

For the second year in a row, we were recognized as a top company by Diversity:IN with a 100% score on its Disability Equality Index.

LAND O’LAKES, INC. ESG REP ORT | VIBRANT COMMUNITIES

43

SUPPORTING OUR NATION’S VETERANS We’re a proud supporter of veterans at Land O’Lakes. In fact, we’ve been designated as a Yellow Ribbon Company by the Minnesota Department of Military Affairs, for our support of service members, veterans and military families. Members of our Veterans group from across the U.S. actively coordinate donations and care packages supporting veterans and recently deployed military personnel.

Land O’Lakes recently teamed up with the Department of Defense’s Skillbridge program, which helps those transitioning out of the military by connecting them with corporations to gain experience, try civilian jobs and enhance their skills.

44

Land O’Lakes sponsored a booth at PRIDE Festival in Minneapolis, and used the opportunity to talk to others about our company. We also donated meals to a local food nonprofit based on the number of people who visited our booth.

DEI LEARNING To help create a more inclusive culture at Land O’Lakes, we offer a full suite of DEI learning opportunities for employees, including: DEI Quarterly Learning Series: These courses are designed to help employees gain important critical skills in building their cultural competency through self-reflection, discussion and integration of the learnings into everyday life.

DEI Summit: A highly anticipated annual event where employees can learn more about our DEI strategy and the work of our ERGs.

Unconscious Bias Training: We introduced Unconscious Bias training in 2020 – first to our executive leadership team and then to all directors and people leaders. We now require all people leaders to complete Unconscious Bias training, including all newly hired leaders as part of their onboarding curriculum. In addition, we launched a pilot program called Coaching Across Differences to support a cohort of about 40 leaders working in multicultural environments with multicultural teams.

LAND O’LAKES, INC. ESG REP ORT | VIBRANT COMMUNITIES

Marlon | 44-year tenure at Land O’Lakes

46

SUPPLIER DIVERSITY Land O’Lakes is committed to the long-term growth and equity of diverse and minority-owned suppliers.

“We believe supplier diversity is the cornerstone of ensuring quality components and services are acquired and incorporated across our circular supply chain and businesses enterprise-wide,” said Yone Dewberry, our Chief Supply Chain Officer.

Our supplier diversity strategy is focused on implementing best practices – from enterprisewide supplier guidelines, processes and measurement to forming strategic alliances.

Some of the organizations we support and partner with include the Women’s Business Development Center, National Minority Supplier Development Council, and National LGBT Chamber of Commerce.

We support veteran, LGBTQ, women-owned, disabilityowned and minority-owned businesses through our Supplier Diversity Program. Rooted in our cooperative values, the program reflects our principles of inclusion and supporting our member-owners, customers and employees across the globe.

By 2025, we have a goal to expand supplier equity through increased engagement and diverse representation. This goal requires a collective approach to build on our current partnerships to provide qualifying suppliers equal footing to work with Land O’Lakes, while growing their own business. With this effort, we believe Land O’Lakes can help build equity and foster greater awareness of minority and diverse suppliers.

FOSTERING AN INCLUSIVE AG INDUSTRY An important way that we foster equity is by taking a leadership role in our communities – whether that’s investing in strategic partnerships and philanthropic efforts or by using our voice to address racial equity and social justice issues.

One such issue is the historical barriers that Black farmers have faced in entering and sustaining careers in the ag industry. We applaud the work underway within the USDA to acknowledge and overcome the impact that discrimination in education, lending practices, and research and technology has had on Black farmers.

Through our RESJ efforts, we’re engaging in several activities to help address those barriers. These efforts are aimed at building a culture that eliminates barriers through equity initiatives, accountable engagement and increased investment in historically marginalized communities and institutions.

At the federal level, Land O’Lakes submitted a letter in 2021 in response to a request by the USDA, as the agency looks to ensure farmers and ranchers have an equal chance of success and prosperity. In those public comments, we shared these three priorities – improve broadband access for all Americans, build more equitable representation in USDA committees and increase investment and support of Historically Black Colleges and Universities (HBCUs).

At Land O’Lakes, we are committed to continuously advocating for our member-owners and providing resources to help create a more inclusive ag industry. As we take intentional steps towards progress, we know our efforts will help build a more resilient ag system and improve outcomes for future generations.

LAND O’LAKES, INC. ESG REP ORT | VIBRANT COMMUNITIES

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LAND O’LAKES FOUNDATION AND COMMUNITY RELATIONS At the heart of our identity is how we all work together for the common good across our communities – today and for future generations. Through volunteerism and philanthropy, we support hunger, education, and community initiatives – including some outlined previously in the DEI section – where our employees and members live and work.

Each year, Land O’Lakes, Inc. donates a portion of its pretax profits to the Land O’Lakes Foundation in addition to investing corporate dollars through community relations. The Foundation

was formed in 1996, but our corporate giving programs have existed throughout Land O’Lakes’ 100-year history.

Through programs like the Member Co-op Match and annual LOL Giving campaign, the Foundation is fulfilling its mission to serve the rural and urban footprint that our members and employees call home. Together, we are making a difference locally through fighting hunger, supporting education and strengthening communities.

2021: DONATIONS BY THE NUMBERS In 2021, we contributed a total of $11.4 million to nonprofit organizations, higher education institutions and community organizations. Here’s the breakdown:

FOUNDATION GRANTS:

CORPORATE GIVING:

$3.9M

$2.4M

$800K

$3M

$600K

$700K

EDUCATION

NONPROFIT CONTRIBUTIONS & SPONSORSHIPS

LAND O’LAKES, INC. ESG REP ORT | VIBRANT COMMUNITIES

COMMUNITY

IN-KIND PRODUCT DONATIONS

HUNGER

VALUE OF EMPLOYEE VOLUNTEER HOURS

$7.1M TOTAL

$4.3M TOTAL

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SUPPORTING VIBRANT COMMUNITIES Land O’Lakes, Inc. was founded over 100 years ago by farmers who knew the importance of looking after their neighbors.

They recognized that we all do better when we work together, a mindset that continues to be a cornerstone of our philanthropic efforts. Today, we are dedicated to investing in the vibrancy of the rural communities where many of our farmers live and work in the following ways:

Member-driven philanthropy: Maximizing the impact of member dollars in their local communities Product donations: Giving in-kind dairy and feed product to rural and urban regions across the country Employee giving: Opportunities for individuals to make an impact on local nonprofits they care about Collaborative philanthropy: Working together with our co-op partners on disaster relief efforts across rural America

MEMBER MATCH PROGRAM Beyond the direct economic impact of our cooperative the Foundation matches our members’ individual donations, system, Land O’Lakes and our member-owners also take pride dollar-for-dollar, increasing the impact of their giving to local in being philanthropically active in the communities we serve. nonprofits, including schools and food shelves.

The Direct Member Match and the Ag Retailer Match programs have long been a hallmark of the Land O’Lakes Foundation; investing in the hometown communities where our members live and work. Through the robust program,

In 2021, our Member Match and member directed programs put over $2 million back into rural communities to support causes that mean the most to our members in communities across the country.

LAND O’LAKES, INC. ESG REP ORT | VIBRANT COMMUNITIES

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PRODUCT DONATIONS AND COMMUNITY GARDENS Our First Run Program is a unique way for us to support hunger relief efforts nationwide. While food banks often receive corporate donations of food that is damaged or nearing the end of its shelf life, Land O’Lakes supplies quality product specifically for donations – including macaroni and cheese and other dairy-based products. To date, we’ve donated more than 6.4 million pounds of product through First Run, including nearly 900,000 pounds in 2020 and 2021.

In addition to giving dairy products to food banks across the country, Land O’Lakes also donates animal feed through our Animal Nutrition business. When disaster strikes, farmers and ranchers are impacted through displaced animals caused by flooding, tornadoes and fires.

Working with teams on the ground in these communities, Land O’Lakes is helping to ensure these animals are fed until they can make their way back home. Overall, in 2021 more than 350,000 pounds of Animal Nutrition product was donated to communities across the U.S. Another way we promote vibrant rural communities and hunger relief is through the WinField United Answer Plot® Community Gardens program. Supported by the Land O’Lakes Foundation, the program grows food for people in need, primarily in rural communities. Since its inception in 2011 this program has donated more than 770,000 pounds of fresh produce to communities across our national footprint.

EMPLOYEE GIVING The spirit of giving is ingrained in Land O’Lakes’ culture – and our employees embody this by investing both time and money into their local communities. We offer opportunities throughout the year for employees to make a difference in a way that is meaningful to them. This includes formal giving campaigns, volunteerism grants, partnerships with Employee Resource Groups, and other need-based matching gift campaigns throughout the year.

Employee Giving Campaigns During our annual LOL Giving Week, dollars are raised through event fundraisers and employee pledges to nonprofits they care about. Individual donations are matched $1 to $1 by the

LAND O’LAKES, INC. ESG REP ORT | VIBRANT COMMUNITIES

Land O’Lakes Foundation and during the 2021 campaign, more than $1.7 million was invested in communities across the country.

Land O’Lakes also encourages employees to join the fight against food insecurity during Hunger Action Week as we match gifts to any hunger organization $1 for $1 up to $30,000.

Volunteerism Grants Employees can amplify their volunteerism impact with Dollars for Doers and Team Grants. For every 10 hours an employee volunteers, the company will donate money to that non-profit, and group volunteer events can earn a team grant of $500. In 2021, our employees volunteered 23,960 hours.

50

COLLABORATIVE PHILANTHROPY Rural America is where most of our employees at nearly 300 facilities live and work. When natural disasters hit these regions, Land O’Lakes comes together with other national cooperatives to maximize relief efforts. From wildfires to

tornadoes to flooding, many communities suffered tragic losses last year, leaving behind indescribable pain and challenges. Collaboration with our other cooperative partners ensures we can provide even more meaningful support.

BUILDING EDUCATIONAL PATHWAYS TO AGRICULTURE CAREERS Land O’Lakes supports education, specifically education within the food and ag industry. This is demonstrated by our work with MANRRS to help build a stronger pipeline of diverse talent in the industry, as well as the Land O’Lakes Global Food Challenge program, which is in its eighth year. The Global Food Challenge

program is a leadership development program for sophomore students across our top university partners, including our MANRRS network. Students have access to top leadership, cross-functional consulting projects and exposure to our cooperatives and the global parts of our business.

Global Food Challenge students snap a photo with President and CEO Beth Ford.

LAND O’LAKES, INC. ESG REP ORT | VIBRANT COMMUNITIES

APPENDIX

52

LAND O’LAKES, INC. ESG REP ORT | APPENDIX

53

MATERIALITY ASSESSMENT ECON OM IC R ESILIEN CE

EN VIRONM E NTA L STEWAR D S H I P

SOCIAL RESPONSIBILITY

M E DI U M S I GNI FI CA NCE

H I GH S I GNI F I CA NCE

5.0 EN G AG IN G IN PUBLIC P O LICY AN D REG ULATO RY IN ITIATIVES

P OT EN T IAL IMPAC T ON LAND O’LAKES

PR OACTIVELY MAN AG IN G SOI L Q UALITY AN D R E TEN TIO N

NEG ATI VE E NVI R O NM E N TA L I M PAC TS O F PU R CHA SE D G O O D S A ND SE RV I CE S

CU STOME R CON CERN S A B OU T SU STA IN ABLE P R ACT I CE S

RECO RDIN G AN D TAKIN G ACTIO N AG AIN ST DISCRIMIN ATIO N

C OMP LYI N G W I T H E N VI R ON ME N TA L LAWS A N D R EGU LAT I ON S

G EN ERATIN G DIRECT ECO N O MIC VALUE

E N SU R I N G P R OD U C T SA F E T Y A N D QUA LI T Y T H R OU GH SU P P LY C H A I N T R A N SPA R E N CY

WO RK-RELATED IN JURIES AN IMAL WELFARE

WAT E R B ODI E S A FFECTED

BY WAT E R DI SCHARG ES A ND/OR RU NOFF

BEN EFITS P R OVI D E D TO EMP LOYE E S

R E DU CI NG GR E E NHOU SE GAS (GHG) E MI SSI ONS

4.0

F I NA NC I AL R I SKS A ND O P P O RTU NI T I E S DU E TO C L I M AT E CHA NGE

CO MP LI A N C E W I T H SO CIAL R EGU LAT I ON S

FIN A NC I A L A S S I STA N CE OR I NC E NTI VE S R ECE I V E D FRO M GOVE R NM E NT

PR OT ECT I NG OR R E STOR I NG HA B I TATS

LE A D I N G T H E WAY ON SU STA I N A B LE B U SI N E SS P R AC T I C E S I N PA RT N E R SH I P W I T H SU P P LI E R S

EN G AG EMEN T WITH LO C A L CO MMUN ITIES, IN CLUDING CO MMUN ITY DEVELO PMEN T

MA N AGI N G N EGAT I VE I MPAC TS OF OP E R AT I ON S ON LO C A L C OMMU N I T I E S

G EN ERATIN G IN DIRECT ECO N O MIC IMPACTS

WA ST E P R O CE SSE D AS WA ST E-TO -E NE R GY

CO RP O RATE CO N TRIBUTIO N S, VO LUN TEERIN G AN D EMPLOYEE G IVIN G FO R LO CAL N O N PRO FITS

WATER CO N SUMPTIO N BY LAN D O ’LAKES

MA N AGI N G N U T R I E N T A P P LI C AT I ON TO MI N I MI Z E I MPAC TS ON WAT E R AND AIR

T R A N SPA R E N T P E R FOR MA N C E R E P ORT I N G A N D C E RT I F I C AT I ON

EMPLOYEE TURN OVER RATES

EN VIRO N MEN TAL IMPACT O F RAW MATERIALS USED

M E A S UR I NG G R E E NH O USE GA S ( GH G ) E M I S SI ONS

ECO N O MI C VI A B I LI T Y A N D RESILIE N C E OF FA R ME R S

SUPP O RT FO R RURAL CO MMUN ITIES

D I VE R SI T Y OF E MP LOYE E S A N D LE A D E R SH I P, A N D E F FORTS TO P R OMOT E I N C LU SI ON

3.0 3.0

4.0

LAND O’LAKES P OTENTIAL IMPAC T ON TOPIC S

LAND O’LAKES, INC. ESG REP ORT | APPENDIX

5.0

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LAND O’LAKES ACTIONS TIED TO UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS • Promote sustainable food production and agricultural productivity • Address food waste across our entire value chain • Donate to hunger relief organizations ZERO HUNGER

CLEAN WATER AND SANITATION

DECENT WORK AND ECONOMIC GROWTH

RESPONSIBLE CONSUMPTION AND PRODUCTION

CLIMATE ACTION

• Promote water management practices for dairy farms and row crop farms • Maximize water use efficiency within our operations

• Contribute to community equity through the revitalization of rural America • Advance our Diversity, Equity and Inclusion efforts within Land O’Lakes • Invest in employee development, health and safety • Expand supplier equity with increased engagement and expansion of diverse representation

• Reduce waste to landfill in our operations through recycling and landfill diversion • Enhance our sustainable sourcing efforts on high-risk ingredients • Require entire milk supply to adhere to the highest animal welfare standards • Reduce the environmental impact of our consumer packaging • Maintain excellence in our product safety and quality practices • Transparently report on our environmental, social and governance priorities and progress

• Reduce greenhouse gas emissions • Reduce our carbon footprint • Increase the use of renewable electricity

LAND O’LAKES, INC. ESG REP ORT | APPENDIX

55

LAND O’LAKES ESG GOALS AND PROGRESS UN SDG ALIGNMENT

GOALS

TARGET YEAR

PROGRESS

ZERO HUNGER Improved agriculture practices of 1 million smallholder farms

2030

2021 – 464,310 farms*​ *Number of smallholder farms supported by Venture37 projects that have applied improved agriculture technologies and techniques (As of Sep 31st 2021, the end of Venture37 reporting year)​

Reduce food waste in standard operational practices by 30%

2030

4.9% increase in food waste in 2021 from 2020 baseline

3 million pounds of in-kind product donations

2030

1,018,912 pounds since 2020

2030

5% improvement in 2021 from 2020 baseline

Expand supplier equity through increased engagement and expansion of diverse representation

2025

Establishing baseline in 2022

Contribute to community equity through revitalization

2025

Philanthropy in support of member communities:​ $2 million​in 2021 Supplemental work opportunities program (SWOP): 49 participants across 65 roles with representatives from each member region since 2018

CLEAN WATER AND SANITATION Increase efficiency of water usage in operations by 15% DECENT WORK AND ECONOMIC GROWTH

American Connection Project (ACP) results:​ • 29 sites of rural broadband expansion​ • 50 American Connection Corps Fellows • 175+ Members of ACP Policy Coalition Ensure full and effective participation and equal opportunities for women and minorities within the company

2030

11 active ERGs with over 13% of employees participating Human Rights Campaign Foundation’s Corporate Equality Index (100% rating): Best Place to Work for LGBTQ+ Equality​DiversityIN: Disability Equality Index (100% score)​ ​DEI representation data: See page 39

100% sustainably sourced palm oil, cocoa and fiber packaging

2025

Establishing baseline in 2022

100% of member milk supply assessed for environmental impact, including carbon footprint

2025

75% of member milk assessed in 2021

100% reusable, recyclable or compostable consumer packaging

2030

39% in 2021

50% reduction in waste to landfill from operations

2030

4% increase in waste in 2021 from 2020 baseline

100% renewable electricity in our operations

2030

Establishing baseline in 2022

Reduce Greenhouse Gas Emissions in alignment with Science Based Targets initiative* • Reduce scope 1 and 2 emissions by 42% • Reduce scope 3 emissions by 25%

2030

Net Zero across all scopes 1, 2 and 3

2050

2020 baseline:​ Scope 1 = 296,167 (MT CO2e)​ Scope 2 = 231,665​ Scope 3 = 11,667,604 2021 results:​ Scope 1 = 288,966 (-2.4%) Scope 2 = 225,476 (-2.6%)​ Scope 3 = 11,395,019 (-2.4%)

RESPONSIBLE CONSUMPTION AND PRODUCTION

CLIMATE ACTION

*Pending validation from SBTi LAND O’LAKES, INC. ESG REP ORT | APPENDIX

56

GRI INDEX 2021

GLOBAL REPORTING INITIATIVE

DISCLOSURE

2021 RESPONSE

102-18

G ove r n a n ce St r u ctu re

L an d O’L akes Gove rna n ce se ct i on i n E S G R e p ort

102- 47

Li s t o f Ma t e r i a l To pi c s

M ater ial ity M atri x i n E S G R e p ort

201-1 (a. i )

Di re ct e co n o m i c va lue gen er ate d an d d is tr ib u te d

2 0 2 1 L an d O’L a ke s, I nc. Ann ua l R e p ort

203 -1

I n fr a s t r u ctu re i n ve s tm en ts an d s er v ic es s u p p o r te d

V ib r an t c o m m uni t i e s se ct i on i n E S G R e p ort

205 -2 (a, b)

C o m m u n i c a t i o n a n d tr ain in g ab o u t an ti- c o r r u p tio n p o l ic ies a n d pro ce du re s

L an d O’L akes C o d e of C ond uct

302-1 (e)

E n e r g y C o n s u m pt i o n w ith in th e o r gan izatio n

1,7 14,5 37,80 8 ( kWh)

302-3 (a)

Energy intensity

3 64. 3 5 8 ( k W h /ton )

303 -3 (a)

Wa t e r w i t h dr aw a l

4,4 3 2 ,0 47 ( c u b i c me t e rs)

305 -1 (a)

Di re ct (Sco p e 1) G HG em is s io n s

E S G G o al s an d P rog re ss i n E S G R e p ort 2 0 2 1 S c o p e 1 = 288,966 me t ri c t ons of C O2 e q ui va le n t

305 -2 (a)

E n e r g y i n di re ct (Sco p e 2 ) G H G em is s io n s

E S G G o al s an d P rog re ss i n E S G R e p ort 2 0 2 1 S c o p e 2 = 225,476 me t ri c t ons of C O2 e q ui va le n t

305 -3 (a)

O t h e r i n di re ct (Sco p e 3) G H G em is s io n s

E S G G o al s an d P rog re ss i n E S G R e p ort 2 0 2 1 S c o p e 3 = 11,3 95,0 19 me t ri c t ons of C O2 e q ui va le nt

306 -2 (a)

Ma n a g e m e n t o f s i g n if ic an t w as te - rel ate d im p ac ts

S u s tain ab l e Fu ture s: Ad d i t i on a l E xa mp le s p g . 26

306 - 4 (a)

Wa s t e di ve r t e d fro m d is p o s al

1 2 ,7 7 2 ( m etr ic t on s) Non-H a za rd ous Wa st e 0 ( m etr ic to n s ) H a za rd ous Wa st e

306 -5 (a)

Wa s t e di re ct e d t o di s p o s al

3 3,5 3 5 ( m etr ic t on s) Non-H a za rd ous Wa st e 1 91 ( m etr ic to ns) H a za rd ous Wa st e

401-2

Be n e fi t s provi de d t o f u l l- tim e em p l oye es th at are n o t provi de d t o t e m p o r ar y o r p ar t- tim e em p l oye es

E m p l oye e B en ef i t s S af e & P l en tif ul Fo o d S up p ly se ct i on i n E S G R e p ort

403 -1

O ccu pa t i o n a l h e a lt h an d s af ety m an agem en t s y s tem

S af e & P l en tif ul Fo o d S up p ly se ct i on i n E S G R e p ort

403 -5

Wo r ke r t r a i n i n g o n o c c u p atio n al h eal th an d s af ety

S af e & P l en tif ul Fo o d S up p ly se ct i on i n E S G R e p ort

403 -7

Pre ve n t i o n a n d m i t i g atio n o f o c c u p atio n al h eal th an d s a fe t y i m pa ct s di re c tly l in ke d by b u s in es s rel atio n s h ip s

S af e & P l en tif ul Fo o d S up p ly se ct i on i n E S G R e p ort

403 -9 (a. iii, e)

Wo r k R e la t e d I n j u r i es

S af e & P l en tif ul Fo o d S up p ly se ct i on i n E S G R e p ort

405 -1 (b. i, b. iii )

Di ve r s i t y o f g ove r n a n c e b o d ies an d em p l oye es

D iver s ity, Eq u it y a nd I n clusi on se ct i on i n E S G R e p ort

GRI STANDARD*

*The information reported is compliant with requirement identified in each disclosure

LAND O’LAKES, INC. ESG REP ORT | APPENDIX

PHOTOS WERE GATHERED FROM A MEMBER FARM AND FACILITY IN TULARE, CALIFORNIA