3 Handout Deck No Juan Handwriting

What’s Next?
ADM Investor Day 2014

Christina Hahn
Vice President, Investor Relations
Our Agenda Today
Journey to Value Creation Pat Woertz
Changing While Winning Juan Luciano
Ag Services Joe Taets, Kevin Brassington, Federico Gorbea, Scott Fredericksen
Corn Mark Bemis, Chris Cuddy, Pierre Duprat, Craig Willis
Lunch 12:30-1:15
Oilseeds Matt Jansen, John McGowan, Renee Roberts, Valmor Schaffer
Wild Flavors & Specialty Ingredients Greg Morris, Bruce Bennett, Vince Macciocchi, Victoria de la Huerga
Improvement Team & Innovation Todd Werpy, Mark Matlock, Marie Wright
Financial Strategy Ray Young
Q&A Pat Woertz, Juan Luciano, Ray Young
Reception 4:30-5:30
ARCHER DANIELS MIDLAND COMPANY 3
Safe Harbor Statement
Some of our comments constitute forward-looking statements that
reflect management’s current views and estimates of future economic
circumstances, industry conditions, Company performance and
financial results.
The statements are based on many assumptions and factors, including
availability and prices of raw materials, market conditions, operating
efficiencies, access to capital and actions of governments. Any changes
in such assumptions or factors could produce significantly different
results. To the extent permitted under applicable law, the Company
assumes no obligation to update any forward-looking statements as a
result of new information or future events.

Journey to Value Creation
Pat Woertz
Chairman & CEO
Becoming “Fit for the Journey”
• Safety
• Goal Setting
• Financial Metrics
• Strategic Planning
• Organizational Alignment

Strengthening the Business
• Operational Excellence
• Cost
• Focus on Returns
• Capital Discipline
• Global Strategy

What’s Next?
Bright Future
• Well positioned to capitalize on global trends
• Strong team, focused on executing with excellence
• Updated strategy
• Seamless transition

Changing While Winning
Juan Luciano
President & COO
Our Priorities
• Fully capitalize on enduring trends

• Set the competitive standard by industry
• Balanced capital allocation

The Global Middle Class is Growing
2009 2020 2030
1.8 Billion 3.2 Billion 4.9 Billion

Global Graying and the Silver Economy
Within the next five years, the number of adults aged 65
and over will outnumber children under the age of 5, for
the first time in human history.
“The world has never before seen such a powerful

market, with about $3 trillion to spend in the U.S. alone.”

Customers’ Need are Changing
Food and beverage manufacturers’ desire
for better quality and faster innovation
is leading to increased outsourcing of R&D
activities to ingredients suppliers.

Returns Journey

Actions are Improving Returns
Trailing 4Q Average Adjusted ROIC
8.5%
6.2%
5.5%
Q4 Q3
CY12 CY14
Financial Objectives
• Increase Returns & EVA

• Dampen Volatility of Earnings

The ADM Advantage
Team ADM Ingredients

Teamwork & Solutions
Knowledge
Agility Customer Franchise
Basic
& Advantaged Key
Processing Building Blocks
Raw Materials
Origination
&
& Logistics
Cost Position
Global Market Intelligence & Merchandising Acumen Strategic Relationships

Agility with Scale

Setting the Competitive Standard in Each
Industry
Source Transport Process Transform Distribute Market

& Sell

Increasing the Number of Levers under Our Control
Align Operating Metrics
with Key Drivers of Shareholder Value
Drive Operational Expand
Optimize the Core Efficiencies Strategically
Increase destination Technology for comp. Geographic expansion
marketing advantage Grow market-facing units
Portfolio management Standardization for scale Incubating an innovation
Rejuvenate product mix 1ADM for productivity platform
Enhance Talent & Capabilities

Build talent base around the world
Selective marketing and application development
Add customer-centric capabilities
Better Projects Drive Better Results
IRR of Approved Projects
18%
16.5%
• Lookbacks 13.9%
15.2%
12.6%
13%
• Learnings
8%
2011 2012 2013 2014F

Capital Deployment Philosophy
Invest in Business Return to Shareholders
Available for
strategic
opportunities
Value Creation
Strategy Shifts Portfolio Center of Gravity
Source Transport Process Transform Distribute Market

& Sell

Our Scorecard
Optimize the Core Drive Operational Efficiencies Expand Strategically
Reduce EU dependency on biofuels Develop origination position in N. Brazil
 Inventories (capital reduction)
Oilseeds Improve South American returns Pursue JV partners for Barcarena Port
Divest underperforming businesses  Energy Efficiency Expand packaged and food oils
Continue diversifying wet mill corn grind  Supply Chain Launch commercial production at Tianjin
to achieve 10% goal  Procurement fructose plant
Corn Diversify starch portfolio Expand China feed business
Improve PG results  Yield Expand specialty product portfolio
Divest underperforming businesses  Sales / Margin Improvement Access new technology
Complete ACTI integration  New Products Diversify & expand trade & origin. territory
Build Global Trade Desk Leverage ADM brand equity and distr. reach
Ag Reduce asset intensity through JVs &  Maintenance Sell up and explore geo. Milling expansion
Services Partnerships  Chemical Usage Grow logistics services
Expand backhauls, complimentary & Expand ocean going vessel focus to 3rd party
customer products and asset proximity  Engineering non-grain business
Grow Sales:  1-ADM Implementation Deliver WILD synergies
WILD • Clarisoy Integrate Specialty Commodities
Flavors • Textura Maintain construction schedule:
& Spec. • Functional fiber • Campo Grande
• Edible Bean powder and grits • Tianjin
Ingreds. • Transparent Xanthan Gum • Clinton

The Investment Rationale for ADM is
Compelling
Trends Intensifying
Value Creation/Execution Accelerating
Capital Stewardship Strengthening

Agricultural Services
Ag Services
What’s Next?
• Focus Actions to Improve
Returns and Grow EVA
Joe Taets Kevin Brassington • Diversify Global
SVP/President Ag Services, EMEA Managing Director, EU Oilseed Origination
26 years industry experience Processing & Global Trade Oilseed
20 years industry experience
• Expand Destination and
Distribution Network
• Further Solidify Position as
Premier Global Ag Services
Scott Fredericksen Federico Gorbea
Company
President Transportation President & GM, ADM Mexico
31 years industry experience 26 years industry experience

ADM is the Premier Global Ag Services Company
Former Toepfer
Grain Elevators
Wheat Milling
Other Processing
Edible Bean
Feed/Premix
Trucking
ARTCO
Sales Office
GrainCorp
Note: Origination Assets in South America and part of Europe are reported within the Oilseed segment.

How We Make Money Today
Milling &
Other
25%
Merchandising &
14%
61% Handling
Transportation
Note: Origination Assets in South America and part of Europe are reported within the Oilseed segment.
Sources of Profitability
Physical
PhysicalGrain
GrainAssets
Assets Intellectual Capital Transportation
• Operating Expertise • Risk Management • Operating Efficiency

• Elevation Capacity • Market Intelligence • Centralized Negotiations
• Volume • Arbitrage—Grain & Freight • Trade Knowledge/Relationships
• Discounts • Spreads/Options • Round Trip Optimization
• Carry Charges • Diversified Product Portfolio • Competitive Advantage
• Blending/Drying/Storage • Value Added Services • 3rd Party Logistics
• Connection to Farmers • Inland Port/Intermodal Ramp
• Multi-modal Flexibility

Where We Make Money Today
Asia Australia
3% 1%
Europe & Africa
12%
South America 2%
Mexico & Central 7%

US - Domestic
America 5%
52%
Canada 18%
US - Export
Our Vision: Retain Our Position as the Premier
End-to-End Global Ag Services Company
Grow Origination Grow in Leverage Global

Platform Destination Markets Transportation
& Distribution Network

Expand Origination in Key Growing Regions
Europe
China
US &
Canada
Origination SE Mexico
Network Asia
Central Middle
America East &
Africa
South
America
Australia
NZ

Grow Destination Marketing and Distribution
Europe
China
US &
Canada
Network Asia
Central Middle
Destination America
Market East &
Presence Africa
South
America
Australia
NZ

Grow Destination Marketing and Distribution
FOB to CIF Margin $2 - $3 per MT Destination Margin $8 - $12 per MT
Domestic River Strategic Grain Destination Destination

Origination Logistics Export Assets Ports Distribution

Fully Capitalize on Global Trade Flows
Europe
China
US &
Canada
Network Asia
Central Middle
Destination America
Market East &
Presence Africa
Global Trade
Flows South
America
Australia
NZ

Fully Capitalize on Global Trade Flows
Combining ADM and Toepfer
• Reorganizing
• Rebranded as ADM
• Restructured legal entities
• Reducing invested capital
• Establishing global merchandising operation
• Eliminating redundancies

Transportation: Core Competency & Competitive Advantage
Europe
Rail Barge
China
Ocean Going Vessel US &
Canada
Network Asia
Central Middle
Destination America
Market East &
Presence Africa
Truck
Global Trade
Flows Container South
America
Transportation Australia
Mode
NZ

Transportation: Core Competency & Competitive Advantage
Efficiency
Technology
1,200 Trucks Fleet 2,300 Barges

Optimization
Asset
Utilization 9 Owned Bulk Carriers
27,500 Railcars
150 on Time Charters
Leverage
Yearly ship 160,000

containers
Unmatched Global Origination and Marketing
ADM owns,
leases, and Europe
operates 45 Rail Barge
global ports China
Ocean Going Vessel US &
Canada
Network Asia
Central Middle
Destination America
Market East &
Presence Africa
Truck
Global Trade
Flows Container South
America
Transportation Australia
Mode
Global
Marketing NZ
Office
Port Facilities
Evolving Ag Services Earnings Mix
Earnings Mix Today Future Earnings Mix
Asia Australia Australia
Asia
Europe &
South America Africa
US - Domestic
Mexico & Central
America US - Domestic Europe &
Canada Africa
US - Export
US - Export
Mexico
South America & Canada
Central
America

Agricultural Services – Key Takeaways
 Continue to execute and capitalize on current strong footprint,
while expanding geographically outside of the US in Origination
with the potential to double volumes and grow EVA
 Agricultural Services will capture incremental margin through

expansion of the destination chain – opportunity to triple
margin per ton in the distribution network
 The business will further expand its transportation model

globally

Corn
Presentation Agenda
What’s Next?
• Focusing on actions to
improve returns and grow
EVA
Mark Bemis Chris Cuddy
SVP/President Corn President Sweetener & Starches • Building on strong cost
position
• Accelerating diversification
of products and global
footprint
Craig Willis Pierre Duprat

VP Ethanol Dir. International Business Dev.

We Are the World’s Largest Corn Processor
Corn Processing Plant

Other Processing Plant
Sweetener Terminal
Ethanol Terminal
Animal Nutrition Processing Plant
Export Flow
• 14 corn processing plants in 7 countries and 8 • 3 of 5 largest corn mills in the world
other processing plants • Daily grind capacity of 3.0 million bushels
• 37 feed and premix facilities in 6 countries

Our NA Footprint is Strategically Positioned for Efficient
Origination and Distribution
Corn Belt
Corn Processing Plant
ADM Elevator
Sweetener Terminal
Ethanol Terminal
ADM Export Facility

We Have Been Steadily Improving Our Cost Position
• Energy efficiency improved by 10% in the past 5 years; opportunities still plentiful
• Yield improvement offers significant opportunity
Manufacturing Costs Energy Usage (BTU/Bu)
Operating
Supplies
Depreciation
& Amortization
Energy
Salaries
28%
& Benefits
Maintenance
Other 2000 2014

…While Also Boosting Returns with Capital Discipline &
Portfolio Management
Cost
Improvement
8% 2011 Shut down Walhalla dry mill and closed astaxanthin business
2006 - 2010
Growth - US 2012 Shut down PHA and started repurposing assets in Clinton
92%
2013 Integrated Specialty Feed and Alliance Nutrition groups
Growth –
International Cost 2014/ Complete Tianjin plant complex and explore growth in SE Asia
21% Improvement 15
2011 - 2014 40%
Growth – US
39% 2015 Seeking to exit Brazil sugar ethanol business

Improved Ethanol Industry Dynamics Should
Generate Solid Returns
• Growing export business • Promoting E-15 implementation
• Incremental opportunity from global • Continue to build on logistics advantage
replacement of MTBE
2014 Select Export Destination
Net Exports Millions of Gallons
800 Millions of Gallons > 750
Destination 2013 2014 Change
600 UAE 27 49 22
400 Korea - 22 22
196 India - 11 11
200
171
Nigeria - 10 10
0 Singapore - 7 7
2012 2013 2014E
2014 YTD China - 3 3
Source: EIA, ADM

We Have Market Leading Positions Across a
Diverse Product Portfolio
Products Key Applications Market Position
• Soft Drinks • Bakery

Sweeteners • Confectionery • Brewery
U.S.: #1
• Paper making
Starches • Food U.S.: #2
• Corrugating
• Confectionery
Sorbitol • Personal care
U.S.: #1
• Fuel (E-10/15/85) • Personal Care

Alcohol • Beverage • Solvent
U.S.: #1
Amino Acid
• Animal nutrition U.S.: #1
(Lysine)
Bio-based • Food & beverage • Personal care
U.S.: #1
Propylene Glycol (PG) • De-icing • Home care

Further Expanding Product Portfolio to Optimize
Margins
Fibersol Soluble ingredient used to increase dietary fiber
Soluble ingredient used to increase non-dietary fiber and
Polydextrose reduce sugar and calories
Rare Sugar Ultralow-calorie sugar with taste similar to fructose
Sustainable alternative to fish oil with widely recognized
Omega-3 DHA health benefits for both humans and animals
Renewable Exploring technology to produce adipic acid and other
Chemicals base ingredients for products such as nylon
Key production input for various ADM products; could
Enzymes also be sold directly for food and feed applications
Polyols Used in food and personal care products
Over-the-fence Long-term agreements to supply ADM’s low-cost raw

Opportunities materials to co-located 3rd parties
Scale in Combination with Flex Capacity Has
Enabled Product and Margin Optimization
2009 Sweetener & Starches OP 2014 Forecast Sweetener & Starches OP
Corn Germ
and Oil
Specialty
Corn Germ Products
HFCS
and Oil
HFCS
Specialty
Products
Joint Joint
Liquid Ventures Corn Syrup
Ventures Corn Dextrose
Liquid Dextrose
Syrup
Starch
Starch
Other Other
Strategic Focus: Global Growth Market Perspectives
Mtons
World market projections: starches & derivatives Keys Insights
• China is the # 1
100 ROW
80 Other Asia
60
China starch & derivatives
40
Other Europe market since the
20
EU early 2010’s
Other America
0
2000 2005 2010 2015 2020
NAFTA • Developed regions
are growing below
2013-2018 expected growth per region (%) 2013-2018 expected growth per product (%) 1% per year
27.4
14.7
15.9 • Emerging markets
11.5
12.6
are growing
11
14 14.2
between 1x and 2x
3.6 4.3 GDP growth rate
Native
Glucose
Polyols
HFCS 55
Starch
Africa
US
South-East
Europe
Latin America
China
Asia
Source: LMC International 2014 ARCHER DANIELS MIDLAND COMPANY 53

We Are Growing Our Global Footprint with
China Plants
Premix Plants
Tianjin Plant Complex
China Corn Belt
Tianjin Premix Plant Dalian Premix Plant

Tianjin 320K MT Fructose Plant
Tianjin 18K MT Fibersol Plant
Nanjing Premix Plant

Corn – Key Takeaways
 Corn is having a great year, but we have many more opportunities
for improvements and for growth
 Significant cost and yield improvement opportunities still ahead
 Product diversification to add to the “Fight for the Grind” and

geographic diversification into key markets central to future EVA
growth strategy

Oilseeds
Presentation Agenda
What’s Next?
• Improve Returns and Grow
EVA
• Innovate to diversify product
Matt Jansen Valmor Schaffer
SVP/President Global Oilseeds President South America mix.
• Achieve further cost and
productivity savings
• Portfolio management to
drive returns
John McGowan Renee Roberts

Vice President North America Crush Director, National Sales Refined Oils

World’s Most Diversified Oilseed Business
Crush – Refinery
Biodiesel
Elevator
Elevator – Port
Packaging
Value Added
Cocoa
Golden Peanut
Golden Peanut Buying Point
Sales Office
Wilmar

Markets, Innovation, Productivity and Expansion
Drive Our Business
Trends Capital Deployment & Geographic Expansion Value Added Portfolio

Portfolio Management

Diversified Profit Stream
Average 2009-2013 OP $1.5B
Cocoa & Other
Flax
2% Other
Asia 6%
8%
15% Crushing & Cotton
10% Soybean
Origination 45%
Comprised of
57%
Canola
Refining, 22%
25%
Packaging,
Sun
Biodiesel, Other 10%

Growing, Optimizing and Innovating
Better Returns
Our Focus
• Energy efficiency
• Yield improvements
• Cost reduction R&D
Technology
• Improved processes
Production
Efficiency

Capitalizing on Soy Production Growth in Brazil’s
Northern Frontier
MT Per Year
Mato Grosso CAGR 4.5%
2009 2011 2013 2015E 2017E

Mato Grosso MATOPIPA
Source: USDA, OECD

Capitalizing on Soy Production Growth in Brazil’s
Northern Frontier
Ports
Transhipments (Porto Velho and Miritituba)
Barge Transport (waterway)
Truck Transport (highway)
Soybean Production

Targeted Growth
Strengthen Northern Campo Grande Specialty Expand Food Oils
Brazil Origination Proteins Applications
• Increase origination/ • Growing market • Sunflower and canola oils

transportation network • Displace high cost imported • Migration to healthier oils
to feed Barcarena products with local • Innovate around packed oils
production
operation • Expand sales to neighboring • Capitalized on trend that
includes blends
countries
• Free up US capacity • Specialty oils and fats

Industry in Transition
Soy
Corn To WFSI
Canola Labeling • Lecithin
Health Profile • Soy Protein
Coconut
• Plant
Cotton Sterols
Flax • Vitamin E
Sunflower Economic &
Functionality
• Texturized
Peanut Vegetable
Protein
Palm • Soy Flour
First in NA to announce intention
of sourcing Mass Balance
sustainable palm by 2016 Next Generation Solution
Golden Peanut and Tree Nuts
• Transforming from single commodity
peanut supplier to a value-added, nut
and nut ingredient supplier
• Expanded into South African peanuts
& pecans in 2013 and U.S. pecans in
2014
• Healthy and convenient snacking will
continue to drive nut & nut ingredient
growth

Customer Relationship Management
• Create single, shared resource for
storing, tracking and accessing
customer data
• Facilitate customer communication
• Enhance coordination among
business units and shared services
that interact with customers.

Oilseeds – Key Takeaways
 Oilseeds Processing has the most diversified product and
global footprint in the industry with still many more
opportunities to grow EVA
 South American focus on growth in both origination and

specialty products
 Oilseeds has been a great incubator for new products and

new businesses and improved processes — and will continue
to be so

Flavors and Specialty Ingredients
WILD Flavors & Specialty Ingredients
What’s Next?
• Consumer trends driving
strategy
Greg Morris
SVP/President WFSI
Bruce Bennett
VP Specialty Ingredients
• Vision to become a world
20 years industry experience 21 years industry experience class specialty ingredient
business
• Winning in the specialty
ingredient space
• Capturing synergies
Vince Macciocchi Victoria De La Huerga
Global President WILD Flavors VP Global Strategy WFSI

The Path to Build a Specialty Ingredient Business
Timeline
• Prior to 2013 – Oilseeds, Corn and Ag Services Systems/Platforms
• March 2013 – Creation of ADM Foods &
Wellness group Downstream
• August 2013 – Vision & Strategy presented to SGI Omega 3

Adjacent
the board
• 2013/2014 – Added resources to build Foods
& Wellness bench Complimentary
• 2013/2014 – Pursued several organic growth Brazil Protein Complex
projects Fibersol Expansion
Lecithin Expansion
• October 2014 – Acquisition of WILD Flavors
• November 2014 – Acquisition of Specialty
Commodities

We have Created a World Class Specialty Ingredient Business
Our Vision Core Markets and Products
• Create a one-of-a-kind, Meats & Meals Beverages Personal Care
world-class specialty
ingredients business
Baked Goods Health & Nutrition Dairy & Ice Cream
Our Strategy
• Grow geographically Snacks & Confection
• Expand the specialty
portfolio
• Build the brand SYSTEMS
• Expand structural capital Nutrition Texture Taste Function
Build Tools Lever Technology Lead with Systems

Combined Portfolio Addresses Major Consumer Trends,
Serves Vast Range of Customer Needs
Specialty
Proteins Emulsifiers Edible Beans
Nutritional
Fiber Polyols
Supplements
Day 1 revenues of
= $2.5 billion+
Specialty
Hydrocolloids WILD Flavors Commodities

WILD Flavors and Specialty Ingredients: A Truly Global Business
Processing (30+)
ADM Specialty Ingredients
Specialty Commodities
WILD Flavors
Sales Locations (50+)

WILD Flavors
R&D and Applications (30+)

ADM Specialty Ingredients R&D
WILD Center of Excellence
WILD Product Dev & App

Consumer Trends Drive Our Strategy
Trends
Specialty Ingredient Market $50Bn
• $30 Bn Ingredients
• $20 Bn Flavors
Market growing at 5-6%
Driven by:
• Health & Wellness
• Protein
• Convenient foods
• Clean labels
• Greater variety
Sources: Euromonitor. International Food Information Council Foundation 2014 Food & Health Survey. Mintel. Markets and Markets Report. IFT.

Purposeful Innovation Leads to Value Creation
Portfolio Value Creation

ADM Specialty Ingredients Ingredients to Systems-Based Solutions
Plant-Based Proteins
Beans, Bean Powders, Crisps
Polyols, Specialty Gums
Emulsifiers, Fibers
Nutritional Supplements
Customized Ingredient Blends
Ancient Grains, Dried Fruits/Vegetables
WILD Flavors
Natural Flavors, Colors and Sweeteners
Purposeful Innovation Leads to Value Creation

ADM Specialty Ingredients Pina Colada Orchard Fruit
Binding Syrup/Particulates Binding Syrup/Particulates
Plant-Based Proteins Fibersol Fibersol
Beans, Bean Powders, Crisps Corn Syrup

Fruit-Up
Corn Syrup
Fruit-Up
Polyols, Specialty Gums Dextrose
Yelkin Gold
Dextrose
Yelkin Gold
Emulsifiers, Fibers Salt
Salt
Wild Vanilla
Nutritional Supplements Wild Pineapple
Wild Meyer Lemon
Wild Apricot
Wild Pineapple Coconut
Customized Ingredient Blends Navy Bean Crisps
Wild Red Peach
Navy Bean Crisps
Sorghum Crisps
Specialty Commodities Quinoa Crisps

Red Bean & Tomato Crisps
Quinoa Crisps
Red Bean & Tomato Crisps
Ancient Grains, Dried Fruits/Vegetables SCI Pineapple SCI Apricot

SCI Macadamia Nut SCI Cashew
SCI Coconut Medium SCI Macaroon Coconut
WILD Flavors SCI Mango Citric Acid
Natural Flavors, Colors and Sweeteners

WILD’s Leading Positions in Natural Aligned with Key Trends
Market Opportunity Trends
Specialty Ingredient Market
Ingredients
~$30Bn
• Market growing 5-6% globally
Flavors
̶ Natural flavor market growing 6%
~$20Bn
̶ Artificial flavor growing at 5%

Flavors Breakdown
Artificial
• Regionally
70%
5.5% in Europe, M. East, Africa

Natural
30%
4.5% in NA
By Natural End Markets
9.1% in Emerging markets
Beverage
Food
30%
• WILD expects to exceed market
70%
growth by 1-4% in all regions

Sources: Roland Berger, Euromonitor, Canadean
Our System-Based Model is Complex and Hard to Replicate,
and it Drives Customer Value
WILD High Margin Ingredients
Natural Flavors
Natural Colors
Natural Taste
Natural Fruit Sweeteners
WILD High Volume Raw Materials
Natural Concentrates
Protein, Fiber, Vitamin E
Ancient Grains, Dried Fruits/Vegetables

Targeting €100 Million in Synergies by Year 3
Geographies Customers Optimization
 Complimentary growth  Key customers  Footprint optimization
strategies ̶ CPGs outsourcing R&D  Cost efficiencies
 Leveraging speed-to-market  Target segments
capabilities / relationships  Purposeful innovation
Examples Examples Examples

Emerging Markets Opportunity Global CPG - Food Applications labs
‒ Brazil and China Global CPG - Beverage Facility consolidation
Europe Opportunity
Global CPG – Pet Care Procurement efficiencies
‒ Lever ADM for Food
Logistics efficiencies
NA Opportunity
‒ Lever WILD for Beverage

Our Vision WFSI Goal:
Create a one-of-a-kind, Reach $10 billion
world class specialty
ingredients business in revenues

Innovation & Improvement Initiatives
Presentation Agenda
What’s Next?
• Deploying technology to
drive cost savings and EVA
growth
Todd A. Werpy, Ph.D. Mark Matlock
SVP, Research & Development SVP, Food Research • Developing a strong
pipeline of new products
• Combining new
technologies to provide
customer solutions
Marie Wright
VP & Chief Global Flavorist, Wild Flavors
22 years industry experience
More Than 700 Scientists and Engineers Around the World
Engaged in New Product Development, Process Advancements and Customer Projects
R&D and Applications

• Greater than $100 M in R&D Spend Feed & Animal
• 13 Locations in North America Chemistry &
Nutrition
• 16 Locations in Europe Biotechnology
6%
• 2 Locations in South America 12%
Food,
• 5 Locations in Asia 50% Beverage &
Flavor
32%
Process Applications
Research

Building a Superior Intellectual Property Portfolio
Patents and Published Applications*
257 250
233
212 209 204
201
175 173
157 157
130
100 107
78 70 74 68
2009 2010 2011 2012 2013 2014 Jan-Oct
ADM Diversified Global Processor Diversified Ingredient Supplier
*Includes granted patents and applications that publish globally in a given year. Excludes IDFs in pipeline OR patents and published applications assigned to WILD.
** Applications include enzymes, food & beverage, other industrial applications.
Source : Patent Office Databases

Technology Plays a Critical Role in Saving Costs
Continuous Operational and Technology Excellence to Save Costs
• Diverse project portfolio – Improvement Initiatives by Area
projects with savings from 2013-2014 Run Rate Savings - $400 M
$50K to $5M
• Many capital light projects
Procurement Operational
• Operational Excellence & Other Excellence
Energy Efficiency
40% 40%
Water Savings
Improved Reliability, Repair &
Maintenance
• Process Improvements 20%
Yield Improvements
Productivity Process Improvements $240 M
Reduced Chemical Usage

Significant Opportunity for Additional Improvements
A Systematic Approach to Operational Excellence & Process Improvements
Data Corn & Oilseeds Advanced

Maintenance Operational
Infrastructure Energy Process
Initiatives Reliability
& Analytics Efficiencies Controls
By 2019
2013-2014 Operational Excellence
$350 M
$240 M Process Improvements
Additional
Corn & Oilseeds Membrane Fermentation Advanced Catalysis Savings
Processing Technology Separations
Technology
Yield Improvements

Strategic Innovation Enables New Products
Diversifying Corn Grind & Expanding Oilseeds Product Portfolio
Super
Absorbent Industrial Oils Specialty Alternative
Polymers (Coatings) Proteins Sweeteners
Feedstocks: Target:
Corn Industrials Project Pipeline Food and Feed >$1B in New
Oilseeds Product Sales
Packaging Home and Specialty Omega-3
and Personal Oils
Fibers Care

Taste and Price Drive Consumer Choices, but
Healthfulness is Increasingly Important
How much of an impact do the following have on your decision to buy foods and beverages?
95%
90% +5%
85%
Taste
80%
Price
75% +9%
70% +13%
Healthfulness
65%
60%
55%
50%
2006 2007 2008 2009 2010 2011 2012 2013 2014
Source : International Food Information Council Foundation 2014 Food & Health Survey

Opportunities Exist in Healthier Ingredients
Usual Intake as a Percent of Goal or Limit
Whole Grains 15%
GOAL
• Increase fiber with
Vegetables 59%
Fruits 42%
whole grains and new
Increase
Dairy 52% Intake fiber sources
Seafood 44%
Oils
Fiber 40%
61%
• Add protein with beans,
LIMIT nuts and soy
Calories from SoFAS* 280%
Reduce
Refined grains
Sodium 149%
200%
Intake • Reduce trans and
Saturated fat 110% saturated fats
0% 50% 100% 150% 200% 250% 300%
*SoFAS: Solid Fats & Added Sugars
Source: Dietary Guidelines for Americans, 2010

Retail Product Launches with Healthy Ingredients
New Food and Beverage Product Introductions with:
1,800
Wholegrain
1,600 High/Added Fiber
1,400 Omega-3
1,200
High Protein
1,000
800
600
400
200
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2009 2014
2009 2009 2009 2009 2010 2010 2010 2010 2011 2011 2011 2011 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014
Source: Mintel Global New Products Database

Broadest Ingredient Portfolio & Deepest Expertise
in the Industry
Food Processing
Applications Extrusion, Blending,
Baking, Snacks, Enzymes, Fermentation,
Meats, Confections, Membranes,
Dressings, Soups,
Applications Processing Chromatography,
Sauces, Beverages Specialists Experts Thermal Processing
The Broadest World Class

Ingredients Support
Proteins, Low trans oils, Ingredient Technical
Analytical, Nutritional,
Sweeteners, Cocoa, Portfolio Support Regulatory, Sensory,
Fibers, Flour, Emulsifiers,
Culinary, Quality,
Acidulants, Texturants,
Formulation
Whole/Ancient Grains,

Flavors & Colors Further Enhances the Portfolio
Applications Processing
Specialists Experts
The Broadest World Class

Ingredient Technical
Portfolio Support

ADM, SCI & WILD:
Making “Healthy” Taste Great, Naturally
Whole Grain Flour Sweeteners
Oil Acidulants
Ancient Grains Emulsifiers
Salad Oil Shortening Flavors/Colors
Sweeteners Fiber
Acidulants Fruit Inclusions
Xanthan Gum
Pecans
Flavors/Colors
Feed Ingredients:
Soybean Meal Edible Beans
DDGS Quinoa
Lysine Soy Protein
Savory Flavors
Threonine Dextrose
CitriStim® Savory Flavors
Flavor – a Star in our Customers’ Products
• Provides fabulous Taste
• Product Differentiation & Brand Identity through
Customization
• Drives Preference
• Evokes an Emotional Connection
• Provides a Cultural experience
A flavorist requires the precision & skill of a
scientist with the creativity and passion of a
chef
Learning the Craft - mentorship & in

house training program
<150 practicing US certified flavor

chemists WILD has >10%
WILD’s flavorists artfully craft tastes in

our customers’ products that drive
consumer preference
WFSI’s Scientists provide technology &

captive ingredients that provide a
competitive advantage
Creating the Next Great Taste
 Trend watch – WFSI’s unique positioning with
entrepreneurs/innovators
 Beyond the gold standard
 Translating the trend into delivering a

multidimensional experience of flavor, taste
and texture into a single flavor
Creativity Through Customer Intimacy
• Technical to technical contact
• “End to End Approach”
• Transparency, trust and approachability
• Creating the WOW
WILD’ flavorists work collaboratively with our

customers technical teams to develop great
tasting consumer preferred products
R&D – Key Takeaways
 Operational excellence and process improvements pipeline to yield
$350 million in incremental cost savings by 2019
 Building a strategic new product portfolio to diversify corn grind and

oilseeds crush
 Customers are facing challenges – a need to drive top line growth,

reduce costs and reformulate existing products
 ADM’s diverse commodity ingredient portfolio coupled with specialty

products and Wild’s flavors & colors allows us to uniquely serve our
customers while creating a hard-to-duplicate barrier to entry
Investor Day – Financial Strategies
Ray G. Young
Financial Strategies to Drive Value Creation
• Diversified Funding Strategies and Strong Balance Sheet
• Balanced Capital Allocations
• Incentive Compensation Linkage to Returns
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Diversification of Funding Sources
Better Equipped to Handle Volatility
Working Capital Longer-Term Financing

• US CP Program • Public Debt
• Euro CP Program • Lease Financing
• US Money Market Lines • Asset-light Strategies
• US Securitization Program • Project Financing
• International Securitization
Program
• Bank Credit Lines
• Inventory Based Financing

Clear Objectives, Focused Actions Driving Results
2011/2012 2013/2014 2015 & Beyond
Objective ROIC ≥ S-T WACC ROIC ≥ L-T WACC of 8% ROIC = 10%; EVA Growth
• Continued operational
• Capital/project discipline • Project prioritization excellence
• Technology Center • Operational excellence
Actions to drive cost • Targeted growth
• SG&A savings investments
• Billion Dollar Challenge reductions
• Active Portfolio • Dampen volatility of
Management earnings
Achieved S-T WACC Will achieve L-T WACC Driving toward medium-
Results
in 2012 in 2014 term objectives

ROIC versus WACC
ROIC Objective: 200 BPS over WACC
Q3 CY14
14%
Trailing 4Q Average Adjusted EVA $553M
12% Trailing 4Q Average Adjusted ROIC(1)(2) 8.5%
10% 2014 Annual WACC 6.4%
8%
6%
4%
2%
0%
(3)
Q3 Q3 (1)(2) Q3 Q3 Q3 Q3
FY09 FY10 FY11 FY12 CY13 CY14
Trailing 4Q Average Adjusted ROIC Long Term WACC Short Term WACC
More Balanced Capital Allocation Philosophy
Percent of Operating Cash Flow (before W/C changes) Spent on:
80%
70%
70%
60% 54%
50%
42%
40% 36%
30%
23% 26%
20%
CY 2012 CY 2013 CY 2014(F)
Capex Dividends & Share Repurchases

Forward Capital Allocation Targets
% of Operating Cash Flow Spend:
80%
70% 60%-70% in strategic M&A or
60%
return of capital to shareholders
50%
40% 30%-40% reinvested in Capex
30%
20%
10%
0%
CY 2012 CY 2013 CY 2014(F) Medium Term

Expect Dividends Payout Ranges to Increase with
Stronger and More Stable Earnings
Dividend Payout Ratios Ranges
Medium-Term Range
Near-Term Range 30%-40%
Historical Range 25%-30%
20%-25%

Financial Framework for Shareholder Value Creation
Operating Cash Flows
Reinvestment in Capex to Generate Value Available for Strategic Growth or Distributions

30%-40% 60%-70%
+ Strategic Growth Opportunities Distributions to Shareholders
Dividends Share Repurchases

+ 30%-40% of Earnings
= Value Creation for ADM Shareholders

Alignment of Incentive Compensation to Returns
• Annual Incentive Plan (AIP)
• Total Shareholder Return (TSR)
• Special Reward for Returns (R4R)

In Summary
Medium-term outlook assumptions
Metric
Capex to D&A 1.0-1.2x
Capital
Allocation Operating Cash Flow Allocation (before W/C Changes)
Philosophy
• Capex 30%-40%
• Strategic M&A, Return to Shareholders 60%-70%
Dividend Dividend Payout Ratio (As a % of Earnings) 30%-40%

Philosophy Memo: Historical Annual Dividend Growth Rate ~10%
Returns ROIC 10%

Targets Long-Term WACC 8%

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ADM Investor Day 2014

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• Strong team, focused on executing with excellence

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• Fully capitalize on enduring trends

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1.8 Billion 3.2 Billion 4.9 Billion

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“The world has never before seen such a powerful

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• Increase Returns & EVA

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Team ADM Ingredients

Global Market Intelligence & Merchandising Acumen Strategic Relationships

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Source Transport Process Transform Distribute Market

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Enhance Talent & Capabilities

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Source Transport Process Transform Distribute Market

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• Operating Expertise • Risk Management • Operating Efficiency

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Mexico & Central 7%

Grow Origination Grow in Leverage Global

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FOB to CIF Margin $2 - $3 per MT Destination Margin $8 - $12 per MT

Domestic River Strategic Grain Destination Destination

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1,200 Trucks Fleet 2,300 Barges

Yearly ship 160,000

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 Agricultural Services will capture incremental margin through

 The business will further expand its transportation model

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Craig Willis Pierre Duprat

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Corn Processing Plant

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Manufacturing Costs Energy Usage (BTU/Bu)

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• Soft Drinks • Bakery

• Fuel (E-10/15/85) • Personal Care

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Polyols Used in food and personal care products

Over-the-fence Long-term agreements to supply ADM’s low-cost raw

Source: LMC International 2014 ARCHER DANIELS MIDLAND COMPANY 53