AcceleratingArcher Daniels Midland Company

November 2016

2

Safe Harbor Statement

Some of our statements constitute forward-looking statements that reflect

management’s current views and estimates of future economic

circumstances, industry conditions, Company performance and financial

results.

These statements are based on many assumptions and factors that are

subject to risk and uncertainties. ADM has provided additional information

in its reports on file with the SEC concerning assumptions and factors that

could cause actual results to differ materially from those in this

presentation, and you should carefully review the assumptions and factors

in our SEC reports.

To the extent permitted under applicable law, ADM assumes no obligation to

update any forward-looking statements as a result of new information or

future events.

3

AGRICULTURAL

SERVICESOILSEEDS

PROCESSING

CORN

PROCESSING

WILD FLAVORS

& SPECIALTY

INGREDIENTS

4

ADM: What We Do—Simply Explained

SpecialtiesOrigination

Ag Services

Division

Origination of

Crops

For Internal Use

For External Sale

Milling

Transportation

Processing

Oilseeds

Processing

Division

Corn

Processing

Division

Meal

Oil

Other Oilseed

Products

Sweeteners

& Starches

Feed

Fuel

Other Corn

Products

WFSI

Division

Specialized

Ingredients &

Flavors

Export &

Deliver to

Customer

Regional

Sales

Export to

Port

Customers &

End Users

5

Capacity Utilization

Global Supply & Demand

Balances and Fleet Utilization

InnovationOther

Corn Processing21%

Milling & Other

Grain Merchandising

TransportationWild

Flavors & Specialty

Ingredients10%

Oilseeds Processing44%

Ag Services

23%

Primary Business

Conditions Driver

ADM: Key Drivers of Profitability

1Non-GAAP measure – see appendix

Percent of

FY15 Adjusted

Operating

Profit

6

World’s Most Diversified Assets

Oilseeds Processing

Corn Processing

Wild Flavors & Specialty Ing.

Ag Services

Wilmar International

Sourcing distribution

Processing distribution

7

CY15 Adjusted Segment Operating Profit

$2.9 Billion1

Corn

Processing

21%

44%

2%

Other

Oilseeds

Processing

10%

Wild Flavors & Specialty Ingredients

Ag Services

Corn

Processing

43%

28%

Other

FY04 Adjusted Segment Operating Profit

$1.6 Billion1

Oilseeds

Processing

23%

ADM: Profitable and Evolving Growth

Key Financial Statistics

CY15 revenue: $68B Facilities: 700+ Market cap (12/31/2015): ~$23B NYSE: ADM

32%

40%Ag

Services

1Non-GAAP measure - see appendix

23%

8

ADM’s History of Growth

9

ADM’s Proven Core Model

Setting the competitive standard Capture value across the chain

Source Transport Process Transform Distribute Market

& SellCorn

Oilseeds

Wheat

Food

Feed

Fuel

IndustrialFinancial strength and industry acumen underpin the chain and drive value

10

Our Value Creation Framework

Align Operating Metricswith Key Drivers of Shareholder Value

Optimize the Core

Enhance Talent & Capabilities

Drive Operational

EfficienciesExpand

Strategically

Technology for

competitive advantage

Standardization for scale

1ADM for productivity

Increase destination

marketing

Portfolio management

Rejuvenate product mix

Geographic expansion

Grow market-facing units

Create new ingredients

business

Build talent base around the world

Selective marketing and application development

Add customer-centric capabilities

11

2014-16: Most Significant Portfolio Transformation

in ADM History

11

Divested Acquisitions and Investments

• Cocoa business

• Chocolate businesses

• South American fertilizer

• Lactic acid business

• Brazilian sugarcane ethanol* Eaststarch C.V.**

1212

Expanding Strategically

Geographic Diversity and Enhanced Portfolio

Black Sea export Eatem Foods

Barcarena port

Santa Fe port

Medsofts (Egypt)

Eaststarch C.V.

Morocco sweetener

AOR

CA Gold Almonds

Harvest Innovations

Non-GMO lecithin

Tianjin fiber

Campo Grande protein

13

Driving Value Creation

Fueling Future

Growth

• Continued WFSI bolt-

ons with Caterina

Foods acquisition

• Stratas Foods JV

acquires Supreme Oil

Managing Costs to

Grow Margins

• $250M in new run-rate

cost savings in 2016,

on track to exceed

$275M year-end target

• 'Go Live' of 1ADM in

North American grain

elevators

Strengthen our Existing

Operations

• Golden Peanut and

Tree Nuts streamlined

operations

• Progressed dry mill

strategic review,

expect final proposals

by end of 2016

14

Ag Services:ADM is the Premier Global Ag Services Company

• Merchandising and

Handling

• Transportation

• Milling

15

0

750

1,500

FY08 FY09 FY10 FY11 CY12* CY13* CY14 CY15

1,196 1,230

1,002

1,245

858

535

950

2011/2012

US drought impact

$ M

illio

n

Merchandising & Handling Transportation Milling & Other

ADM is the Premier Global Ag Services Company

Efficiently buy, store, clean and transport agricultural commodities

Prior periods have been restated to conform to current year presentation, except for the elimination of the allocation of working capital interest in fiscal 2007, 2008, and 2009. See appendix

In January 2013, ADM converted to a calendar year ending fiscal year. CY12 represents 12-months ending December 31, 2012. Prior FY’s represent 12-months ending June 30th

Beginning in FY15, certain Foods & Wellness businesses that contributed $49 million of adjusted OP to Ag Services in FY14 began reporting results in the WFSI segment

Ag Services Adjusted Operating Profit

684

16

Container

Truck

Rail

Ocean Going

Vessel

Barge

Middle

East &

AfricaSouth

America

US &

Canada

Australia

NZ

SE

Asia

Eastern Europe

China

Former Toepfer

Grain Elevators

Wheat Milling

Other Processing

Trucking

ARTCO

Sales Office

Note: Origination

Assets in South

America and part

of Europe are

reported within the

Oilseeds segment.

Ag Services Links Crops to Global Markets

17

54%

Ag Services: Sources of Profitability

Merchandising &

Handling

Transportation

Milling & Other

Origination Assets in the majority of South America and part of Europe are reported within the Oilseed segment

26%

20%

Percentages based on FY15 Adjusted Operating Profit

18

Ag Services: Grain & Transportation Sources of Profitability

Physical Grain Assets

Physical Grain Assets

• Operating Expertise

• Elevation Capacity

• Volume

• Discounts

• Carry Charges

• Blending/Drying/Storage

• Connection to Farmers

Intellectual Capital

• Risk Management

• Market Intelligence

• Arbitrage—Grain & Freight

• Spreads/Options

• Diversified Product Portfolio

• Value Added Services

Transportation

• Operating Efficiency

• Centralized Negotiations

• Trade Knowledge/Relationships

• Round Trip Optimization

• Competitive Advantage

• 3rd Party Logistics

• Inland Port/Intermodal Ramp

• Multi-modal Flexibility

19

Transportation: Core Competency & Competitive Advantage

Technology

Leverage

Fleet Optimization

Asset Utilization

Efficiency

28,000 Railcars

1,400 Semi Trailers 2,500 Barges

10 Owned Bulk Carriers

150 on Time Charters

Ship 160,000 (teu) ocean containers annually

20

FOB to CIF Margin $2 - $3 per MT

Destination

Margin $8 -

$12 per MTFrom Port to

End Customer

Ag Services: Growing Destination Marketing & Distribution

From Origin to Port

Domestic

Origination

River

Logistics

Strategic

Grain Export

Assets

Destination

Ports

Destination

Distribution

Ocean

Freight

21

Ag Services Vision: Build on Being the Premier End-to-End Global Ag Services Company

Grow OriginationPlatform

Leverage Global Transportation

Network

Grow in Destination Markets

& Distribution

22

Corn Processing:World’s Largest Corn Processor

• ~30 Different Products

• 14 corn processing plants

in 7 countries

• 37 feed and premix

facilities in 6 countries

• Grind capacity of 3.0

million bushels per day

23

-500

0

500

1000

1500

FY08 FY09 FY10 FY11 CY12 CY13 CY14 CY15

Sweeteners & Starches Bioproducts

961

179

1,173

845

606

297

900

1,178

World’s Largest Corn Processor

Corn Processing Adjusted Operating Profit

Accelerating diversification of products and global footprint

$ M

illio

n

Prior periods have been restated to conform to current year presentation, except for the elimination of the allocation of working capital interest in fiscal 2007, 2008, and 2009. See appendix.

In January 2013, ADM converted to a calendar year ending fiscal year. CY12 represents 12-months ending December 31, 2012. Prior FY’s represent 12-months ending June 30th

Beginning in FY15, certain Foods & Wellness businesses that contributed $37 million of adjusted OP to Corn Processing in FY14 began reporting results in the WFSI segment

2424

Corn Processing: Unparalleled Global Footprint

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 other processing plants

• 38 feed and premix facilities in 6 countries

• 3 of 5 largest corn mills in the world

• Daily grind capacity of 3.0 million bushels

25

Corn Processing: NA Footprint is Strategically

Positioned for Efficient Origination and Distribution

Corn Belt

Corn Processing Plant

Sweetener Terminal

Ethanol Terminal

ADM Export Facility

ADM Elevator

26

Products Key Applications Market Position

Sweeteners• Soft Drinks

• Confectionery

• Bakery

• Brewery U.S.: #1

Starches• Paper making

• Corrugating• Food U.S.: #2

Alcohol• Fuel (E-10/15/85)

• Beverage

• Personal Care

• Solvent U.S.: #1

Amino Acid

(Lysine)• Animal nutrition U.S.: #1

Bio-based

Propylene Glycol (PG)

• Food & beverage

• De-icing

• Personal care

• Home care U.S.: #1

Corn Processing: Market Leading Positions Across a Diverse Product Portfolio

27

Corn Processing: Optimizing Margins through the Fight for the Grind

Fibersol Soluble ingredient used to increase dietary fiber

PolydextroseSoluble ingredient used to increase non-dietary fiber and

reduce sugar and calories

Rare Sugar Ultralow-calorie sugar with taste similar to fructose

Omega-3 DHASustainable alternative to fish oil with widely recognized

health benefits for both humans and animals

Renewable Chemicals

Exploring technology to produce adipic acid and other

base ingredients for products such as nylon

Over-the-fence Opportunities

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

materials to co-located 3rd parties

EnzymesKey production input for various ADM products; could

also be sold directly for food and feed applications

Polyols Used in food and personal care products

28

Ethanol Dynamics

140.1 140.2

141.9

143.1 143.1

Sep-15 Dec-15 Mar-16 Jun-16 Sep-16

2016 EIA U.S. Gasoline Annual Demand Estimate

Current 2016 U.S. Gasoline

Consumption estimate is over 2%

higher than predicted one-year ago

U.S. Gasoline Demand Estimate Continues to Increase

Source: U.S. Energy Information Administration Short-Term Energy Outlooks (billions of gallons)

• Growing domestic and export demand

• Continue to build on logistics advantage

• Promoting E-15 Implementation

• Strong Cash Flow Generator

• Industry production capacity continued to increase in 2015 limiting margins

29

Ethanol: A Low Cost Octane Enhancer

Select Export DestinationsDestination 2014 2015 Change

China 3 70 67

Korea 37 61 24

Oman 0 33 33

Peru 15 28 13

Netherlands 21 34 13

Brazil 112 116 4

Product Octane

Content

Required % to

Achieve 87

Octane

Current

Price (11/2/2016)

Corn Ethanol 113 10% ~$1.65

Alkalytes 90 - 98 13% ~$1.57

MTBE 110 11% ~$1.67

Sugarcane

Ethanol(Anhydrous)

113 10% ~$2.31

• Mandates and octane economics drive export demand

• Incremental opportunity from global replacement of MTBE

166 213

756 730

2012 2013 2014 2015

Net ExportsMillions of Gallons

30

Source: LMC International 2014

• China is the # 1 starch & derivatives market since the early 2010’s

• Developed regions are growing below 1% per year

• Emerging markets are growing between 1x and 2x GDP growth rate

Keys Insights

3.6 4.3

11

14 14.2

27.4

US

Eu

rop

e

La

tin

Am

eri

ca

Afr

ica

So

uth

-Ea

st

Asia

Ch

ina

2013-2018 expected growth

per region (%)

11.512.6

14.715.9

Glu

co

se

Nati

ve

Sta

rch

HF

CS

55

Po

lyo

ls

2013-2018 expected growth

per product (%)

Corn Processing: Global S&S Growth Market Perspectives

3131

Tianjin 320K MT Fructose Plant

Tianjin 18K MT Fibersol Plant

Corn Processing: Growing Our Global Footprint with China Plants

Dalian Premix Feed PlantTianjin Premix Feed Plant

Premix Feed Plants

Tianjin Plant Complex

China Corn Belt

Nanjing Premix Feed Plant

32

Oilseeds Processing:World’s Most Diversified Oilseeds Business

• ~60 Different Products

• Meal

• Oil

• Other

• Processing Assets in

16 Countries

• Wilmar Equity

Investment

33

Adjusted for Unusual Items, Oilseeds Recent Operating Profit

Has Been Largely Consistent in Varied Market Conditions

-100

700

1,500

FY08 FY09 FY10 FY11 CY12 CY13 CY14 CY15

1,289*

1,619

1,065

1,350

1,554 1,4861,620

1,499

$ M

illio

n

Crushing & Origination Refining, Packaging, Biodiesel & OtherAsia Cocoa & Other

Oilseeds Processing Adjusted Operating Profit

Prior periods have been restated to conform to current year presentation, except for the elimination of the allocation of working capital interest in fiscal 2007, 2008, and 2009. See appendix.

In January 2013, ADM converted to a calendar year ending fiscal year. CY12 represents 12-months ending December 31, 2012. Prior FY’s represent 12-months ending June 30th

*Beginning in FY 2015, legacy Food & Wellness businesses, which contributed $165 million to Oilseeds OP in 2014, began

reporting in WFSI. Full-year 2015 results also reflected the sale of our cocoa, chocolate and fertilizer businesses.

34

Geographic Reach, Broad Range of Feedstocks Make Ours the

World’s Most Diversified Oilseeds Business

Crush – Refinery

Biodiesel

Elevator

Port

Packaging

Value Added

Golden Peanut

Golden Peanut Buying Point

Sales Office

Wilmar

Soybean Canola/Rapeseed Sunflower Flax Cottonseed PalmPeanut

35

ADM Oilseeds at a Glance

• We originate, transport, merchandise,

crush, and further process soybeans,

softseeds and other oilseeds

• Meals and oils used in food, animal

feeds, renewable fuels, industrial

products

• 120+ production facilities

• 170+ procurement facilities w/storage

capacity of ~3.8M MTs

• Processing capacity: 150M+ MTs/day

• Employees: ~10,000

Source: ADM 2015 Form 10-K

Czernin, Poland, crush complex

36

Key Competitive Advantages

Global Footprint

• Scale

• Strategic presence in key regions

• Investing to grow globally

Diversification

• Geographic footprint

• Maximizing margins with switch plants

• Product mix

Operations

• Integrated facilities

• Global transport/logistics network provides significant efficiencies

• Experienced team

Risk-Management Focus

• Centralized hedge-desk operations

• Global market intelligence

Barcarena, Brazil

3737

Global poultry consumption projected to rise 257% from 1990 levels; pork up 93%

(in 1000 MTs)

Growth in Meat Consumption Continues to Drive Meal

Demand

Sources: USDA, OECD

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

1990 2000 2010 20200

50,000

100,000

150,000

200,000

250,000

300,000

350,000

Global protein meal consumption projected to rise 260% from 1990 levels

(in 1000 MTs)

38

Our Scale Enables Production of Broad Product Portfolio, Serving Variety

of Markets with the Best Route to Market

Crude Oil Refine

Oil

Oil

Protein Meal Protein Meal

Gums

Hydrogenate

Lecithin

Sterols

Vitamin E

Biodiesel/Glycerin

Shortening

Margarine

Transesterify

Interesterify

Texturize

Soy Concentrate

Cotton Lint

Soy Isolate

TVP/TVC

Cellulose

Soy Flour/Cotton Flour

Soybean

Canola/Rapeseed

Sunflower

Flax

Cottonseed

Palm

Peanut

To

WF

SI

To

WF

SI

Further Processing

Further Processing

Further Processing

39

2015 Accomplishments Attest to Strategy’s Effectiveness

• Record global crush rates

• Achieved record returns

• Completed sale of Cocoa and Chocolate businesses

• Sold 50% of Barcarena port to Glencore

• Completed acquisition of Belgian oil bottler AOR

• Reached agreement with Wilmar to change Olenex into a full-fledged JV

• Completed cost savings projects w/run-rate savings of >$60M

• Addressed underperforming businesses; rationalized assets and structure in

India and Paraguay, and in Golden Peanut and Tree Nuts

Optimizing the Portfolio; Investing in Businesses that Meet our Returns Objectives

40

WILD Flavors and Specialty Ingredients:World-Class Specialty Ingredient Business

• Industry’s Broadest Portfolio of On-Trend

Ingredients Addressing:

– Nutrition

– Function

– Texture

– Taste

• Specialty Ingredients Market = $50B

– $30B Ingredients

– $20B Flavors

– Market Growing 5-6%

4141

AGRICULTURAL

SERVICESOILSEEDS

PROCESSING

CORN

PROCESSING

WILD FLAVORS

& SPECIALTY

INGREDIENTS

WILD Flavors and Specialty Ingredients (WFSI) Extends ADM’s

Advantaged Portfolio into $50B Specialty Ingredients Space

42

WFSI Combines Legacy ADM Specialty Ingredients and

Acquired Capabilities

43

WFSI: A Premier Specialty Ingredients Provider With Global Reach

44

WILD Flavors and Specialty Ingredients: Creating Ingredient Solutions for our Global Customers

ADM Specialty Ingredients R&D

WILD Center of Excellence

WILD Product Dev & App

R&D and Applications (30+)

ADM Specialty Ingredients

Specialty Commodities

WILD Flavors

Processing (30+)

ADM Specialty Ingredients

Specialty Commodities

WILD Flavors

Sales Locations (50+)

45

WFSI: Industry’s Broadest Portfolio of On-Trend Ingredients

Specialty

Proteins

Hydrocolloids

Colors

Emulsifiers

Nuts, Seeds, &

Ancient Grains

Edible Beans

& PeasNutritional

Supplements

Flavors & Extracts

Fiber

Polyols

Ingredient

Systems

Addressing nutrition, function, texture and taste

Mint

4646

Ingredient Systems: A Key WFSI Differentiator

47

WFSI: We Serve as an Extension of Our Customers’ Resources

Consumer/Market Insights Product Development Commercialization Supply Management

A single partner for all needs, from individual ingredients to turnkey, customized solutions

Capabilities in new-product innovation, cost-optimization create

value for customers outsourcing their R&D needs.

4848

WFSI: Supporting a Range of Products for Our Customers Who Sell Through a Variety of Channels

Snacks

Baked Goods

Health & Nutrition

Dairy & Ice Cream

Meats & Meals

Beverages Personal Care

Confections

Channel partners include:

• Entrepreneurs/startups

• Regional CPG accounts

• Direct Sales accounts

• Private-label

• Foodservice

• Multinational CPG

49

WFSI: Excellent Results in First Year as a Combined Organization

• Achieved $0.10 accretion target

• More than $40M in cost synergies—ahead of schedule

• Active pipeline of >750 revenue-synergy projects

• Global and cross-business unit wins

Organic Growth, M&A

Earnings and synergies

• Completion of non-GMO lecithin in Germany, India

• Customer Innovation Center in Cranbury, N.J.

• Savory flavors—Eatem Foods

• Additional specialty commodities capabilities—California Gold Almonds

• Non-GMO, gluten-free, organic ingredients—Harvest Innovations

5050

WFSI: Summary

• A premier global ingredient company with

exceptional capabilities, talent and value

propositions

• Supporting customer and consumer needs

in a dynamic marketplace

• First year as a combined organization

delivered strong results

51

Innovation & Improvement Initiatives

52

Significant Opportunity for Additional ImprovementA Systematic Approach to Cost Savings

Procurement Savings

By 2019

$350 M

Additional

Savings

FermentationAdvanced

Separations

Corn &

Oilseeds

Energy

Efficiencies

Advanced

Process

Controls

Operational

Reliability

Catalysis

Operational Excellence

Process Improvements

Membrane

Technology

Maintenance

Initiatives

Data

Infrastructure &

Analytics

Corn &

Oilseeds

Processing

TechnologyYield Improvements

$550

Million

2013-2014

$240 M

=

2013-2014

$160 M

$200 M

Additional

Procurement

Savings

+

Pipeline >$1 Billion

• Executed on projects that will deliver >$200 million in run-rate savings in 2015

• Targeting $275 million in run-rate savings in 2016

53

Strategic Innovation Enables New Products

Diversifying Corn Grind & Expanding Oilseeds Product Portfolio

Project PipelineTarget:

>$1B in New

Product Sales

Feedstocks:

Corn

Oilseeds

Specialty

Proteins

Specialty

Oils

Omega-3

Alternative

Sweeteners

Food and Feed

Industrial Oils

(Coatings)

Industrials

Packaging

and

Fibers

Home and

Personal

Care

Super

Absorbent

Polymers

5454

FY06 FY07 FY08 FY09 FY10 FY11 CY12 CY13 CY14 CY15

Oilseeds Processing Corn Processing Agricultural Services WILD Flavors & Specialty Ingredients Other

2011/2012

U.S. drought impact

4.1

$ B

illi

on

s

3.02.8

3.4

2.7

3.7

2.9

3.4

2.5

2.1

Adjusted Segment Operating Profit

Prior periods have been restated to conform to current year presentation, except for the elimination of the allocation of working capital interest in fiscal 2007, 2008, and 2009.

In January 2013, ADM converted to a calendar year ending fiscal year. CY12 represents 12-months ending December 31, 2012. Prior FY’s represent 12-months ending June 30th

5555

$1.65

$2.90

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

FY06 FY07 FY08 FY09 FY10 FY11 CY12 CY13 CY14 CY15

2-Year Moving Average EPS (adj)

2011/2012

US drought impact

Earnings and EPS net of specified items (including LIFO)

In January 2013, ADM converted to a calendar year ending fiscal year. CY12 represents 12-months ending December 31, 2012. Prior FY’s represent 12-months ending June 30th

Earnings Trend History

56

OperationalExcellence

Execution of KeyProjects

WILD FlavorsAcquisition &

Synergies

Share Repurchases Total EarningsGrowth Potential

$1.00

to

$1.50

56

Driving Earnings Growth over the Medium-Term

5757

(1)

For periods prior to Q1 CY14, Trailing 4Q average WACC is displayed

1Non-GAAP measure - see appendix

ROIC versus Long-Term WACC

ROIC Objective: 200 BPS over WACC Q3 CY16

Trailing 4Q Average Adjusted ROIC(1) 5.8%

Annual WACC 6.6%

Trailing 4Q Average Adjusted EVA ($196M)

Trailing 4Q Average ROIC (1)(3) 7.2%

58

0%

20%

40%

60%

80%

% of Operating Cash Flow Spend:

30%-40%

reinvested in

Capex

60%-70% in

strategic M&A or

return of capital to

shareholders

Historical Medium-Term

58

Balanced Capital Allocation Framework58

5959

$1.9

$1.6

$1.2 $1.2

$0.9 $0.9

$1.1$1.0

FY09 FY10 FY11 CY12 CY13 CY14 CY15 CY16*(Projected)

Bil

lio

ns

CapEx Discipline

6060

CY09 CY10 CY11 CY12 CY13 CY14 CY15 CY16

$1.20

56¢60¢

70¢65.5¢

$1.12

76¢

96¢

Annual Dividends per Share

(Q1 Annualized)

Steadily Increasing Dividends

61

Dividend Payout Range to Increase with Stronger and More Stable Earnings

Dividend Payout Ratios Ranges

20%-30%

Historical Range30%-40%

Medium-Term Range

62

25%

0%

25%

50%

Q1 2011 Q2 2016

Net Debt/Total Capital

62

Net debt is calculated as short-term debt plus long-term debt, including

current maturities less cash and cash equivalents and short-term marketable

securities. Total capital excludes cash from L/T debt

7.1

0.0

5.0

10.0

15.0

Q1 2011 Q2 2016

Available Liquidity ($Billions)

Total Liquidity with RMI Liquidity Available

Liquidity available includes commercial paper and other

sources of available credit capacity

Balance Sheet Strength

63

2016 Priorities: With Current Headwinds… Increased Focus on Areas in our Control

Portfolio Management

Reduce Invested Capital

Targeted Growth

Operational Excellence

• >$200M Savings in 2015

• $275M target in 2016

• Address Lower Returning Assets

• Dry Mill Strategic Review

• Reduce Asset Intensity

• $1B Multi-Year Program

• Bolt-on’s

• Opportunistic M&A

64

ADM

Balance Sheet

Strength

Disciplined

Capital Allocation

Framework

Earnings and

EVA Growth

Portfolio and

Footprint

65

Appendix

66

Historical Segment Operating Profit

Segment 2008 2009 2010 2011 CY 2012 CY 2013 CY 2014 CY 2015

Operating As As As As As As As As As As As As As As As As

Profit Reported Adj Adjusted Reported Adj Adjusted Reported Adj Adjusted Reported Adj Adjusted Reported Adj Adjusted Reported Adj Adjusted Reported Adj Adjusted Reported Adj Adjusted

Oilseeds Processing 1,065 1,065 1,350 1,350 1,551 110 1,554 1,690 (71) 1,619 1,620 1,620 1,473 13 1,486 1,605 (106) 1,499 1,574 (285) 1,289

Crushing & Origination 685 685 733 733 834 834 925 925 931 931 835 835 868-124 (a,b) 744 842 793

Refining, Packaging, Biodiesel, & Other 181 181 265 265 300 300 342

(71)

(f) 271 241 241 454 454 4781 (b) 479 265 270

Cocoa & Other 67 67 104 104 126 3 (d) 129 240 240 276 276 (33) 13 (i) (20) 9217 (i) 109 303 38

Asia 132 132 248 248 291 291 183 183 172 172 217 217 167 167 164 188

Corn Processing 961 961 179 179 738 845 1,079 94 1,173 278 19 297 814 86 900 1,188 -10 1,178 648 (42) 606

Sweeteners & Starches 557 557 500 500 538 538 330 330 421 9 (i) 430 492 17 (b), 11 (i) 520 484 -3 (b, i) 481 634 457

Bioproducts 404 404 (321) (321) 200

107

(d) 307 749

94

(d) 843 (143) 10 (b) (133) 322 54 (b), 4 (i) 380 704 -7 (b, i) 697 14 149

Agricultural Services 1,196 1,196 955 275 1,230 1,002 1,002 1,323 (78) 1,245 779 79 858 380 155 535 1,089 -139 950 714 (30) 684

Merchandising & Handling 829 829 797 797 562 562 807 807 477 (62) (a) 415 33 155 (b) 188 653

-142 (a,

b) 511 334 305

Transportation 144 144 162 162 96 96 117 117 111 111 77 77 187 187 136 135

Milling and Other 223 223 (4)

275

(c) 271 344 344 399

(78)

(e) 321 191

146 (b) (5)

(a) 332 270 270 2493 (b) 252 244 244

Wild Flavors and Specialty Ingredients 280 9 289

Wild Flavors 87 95

Specialty Ingredients 193 194

Other 219 219 (31) (31) 46 46 39 7 46 91 (33) 58 41 41 33 33 66 56 0 56

Processing 13 13 26 26 0 0 0 0 0 0 0 0 -4633 (j) -13 0 0

Financial 206 206 (57) (57) 46 46 39 7 (g) 46 91 (33) (a) 58 41 41 79 79 56 56

Total 3,441 0 3,441 2,453 275 2,728 3,337 110 3,447 4,131 (48) 4,083 2,768 65 2,833 2,708 254 2,962 3,915 (222) 3,693 3,272 (348) 2,924

(a) Gain on asset and business disposal

(b) Loss on asset and business disposal

(c) Gruma foreign exhange losses

(d) Start-up costs

(e) Gain on sale of Gruma assets

(f) Gain on Golden Peanut acquisition

(g) Debt buyback costs

(h) Gain on vitamin antitrust litigation settlement

(i) Timing effects

(j) Restructuring costs

67

Summary of Specified Items Excluded in Adjusted Earnings¹

(1) Non-GAAP measure - see notes on page 64

FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 CY12 CY13 CY14 CY15

Earnings as Reported 301 383 511 451 495 1,044 1,312 2,154 1,780 1,684 1,930 2,036 1,223 1,375 1,342 2,248 1,849

Specified Items:

LIFO Credit/(Charge) 1 (1) (9) (74) 71 7 (129) (354) 322 26 (229) 6 2 140 152 1

FX gain/(loss) (25) (63)

GrainCorp-related items (164)

FCPA charge (37)

Start-up Costs (68) (59) 0

Debt Buyback/Exchange Costs (47) (9) (7) (118)

Golden Peanut Gain 44 0

Gruma Bank Disposal 49 0

Gain/(Loss) on Interest Rate Swaps (37) 19 0

Asset abandonment/impairment and exit

costs (274) (161) (88) (67) (172)

Valuation allowance (82) 66

Bioblenders' credit 55 0

Interest exp adj related to If-converted

method (13)

Tax on remeasurement (change in fiscal

year) (14) (61)

Pension settlement (44)

Gain on GrainCorp 49

Gain on sale or revaluation of assets 24 6 457

Quarterly ETR adjustment 0 0

Wilmar Tax (158)

Gruma Derivatives (171)

Wimar Restructure 286

Tyson/OSG shares 225

Agricore/Arkady Disposals 132

T& L Shares 119

Vitamin Settlement 91 17

Fertilizer gain 83

Kalama Gain 97

CIP Gain 59

HFCS Litigation (252)

Total Specified Items 1 59 90 8 (326) 190 7 514 (354) (7) (126) (198) (275) (144) (201) 147 234

Earnings Excluding Specified Items 300 324 421 443 821 854 1,305 1,640 2,134 1,691 2,056 2,234 1,498 1,519 1,543 2,101 1,615

EPS Adjusted for Specified Items 0.45 0.49 0.64 0.68 1.26 1.30 1.99 2.50 3.30 2.63 3.19 3.41 2.25 2.29 2.33 3.20 2.60

68

Notes: Non-GAAP ReconciliationThe Company uses certain “Non-GAAP” financial measures as defined by the Securities and Exchange Commission. These are measures of performance not defined by

accounting principles generally accepted in the United States, and should be considered in addition to, not in lieu of, GAAP reported measures.

(1) Adjusted earnings per share (EPS) and adjusted EPS excluding timing effects

Adjusted EPS and adjusted EPS excluding timing effects reflect ADM’s fully diluted EPS after removal of the effect on Reported EPS of certain specified items and timing effects as

more fully described above. Management believes that these are useful measures of ADM’s performance because they provide investors additional information about ADM’s

operations allowing better evaluation of ongoing business performance. These non-GAAP financial measures are not intended to replace or be an alternative to Reported EPS, the

most directly comparable GAAP financial measure, or any other measures of operating results under GAAP. Earnings amounts in the tables above have been divided by the

company’s diluted shares outstanding for each respective quarter in order to arrive at an adjusted EPS amount for each specified item and timing effect.

(2) Segment operating profit and adjusted segment operating profit

Segment operating profit is ADM’s consolidated income from operations before income tax excluding corporate items. Adjusted segment operating profit is segment operating

profit adjusted, where applicable, for specified items and timing effects. Timing effects relate to hedge ineffectiveness and mark-to-market hedge timing effects. Management

believes that segment operating profit and adjusted segment operating profit are useful measures of ADM’s performance because they provide investors information about ADM’s

business unit performance excluding corporate overhead costs, and specified items and timing effects. Segment operating profit and adjusted segment operating profit are non-

GAAP financial measures and are not intended to replace earnings before income tax, the most directly comparable GAAP financial measure. Segment operating profit and

adjusted segment operating profit are not measures of consolidated operating results under U.S. GAAP and should not be considered as alternatives to income before income

taxes or any other measure of consolidated operating results under U.S. GAAP.

(3) Adjusted Return on Invested Capital (ROIC)

Adjusted ROIC is Adjusted ROIC earnings divided by adjusted invested capital. Adjusted ROIC earnings is ADM’s net earnings adjusted for the after tax effects of interest

expense, changes in the LIFO reserve and other specified items. Adjusted ROIC invested capital is the sum of ADM’s equity (excluding noncontrolling interests) and interest-

bearing liabilities adjusted for the after tax effect of the LIFO reserve, and other specified items. Management believes Adjusted ROIC is a useful financial measure because it

provides investors information about ADM’s returns excluding the impacts of LIFO inventory reserves and other specified items. Management uses Adjusted ROIC to measure

ADM’s performance by comparing Adjusted ROIC to its weighted average cost of capital (WACC). Adjusted ROIC, Adjusted ROIC earnings and Adjusted invested capital are non-

GAAP financial measures and are not intended to replace or be alternatives to GAAP financial measures.

(4) Average ROIC

Average ROIC is ADM’s trailing 4-quarter net earnings adjusted for the after-tax effects of interest expense and changes in the LIFO reserve divided by the sum of ADM’s equity

(excluding non-controlling interests) and interest-bearing liabilities adjusted for the after-tax effect of the LIFO reserve. Management uses average ROIC for investors as additional

information about ADM’s returns. Average ROIC is a non-GAAP financial measure and is not intended to replace or be an alternative to GAAP financial measures.

(5) Adjusted Economic Value Added

Adjusted economic value added is ADM’s trailing 4-quarter economic value added adjusted for LIFO and other specified items. The Company calculates economic value added by

comparing ADM’s trailing 4-quarter adjusted returns to its Annual WACC multiplied by adjusted invested capital. Adjusted economic value added is a non-GAAP financial measure

and is not intended to replace or be an alternative to GAAP financial measures.