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Campbell to Provide Overview of Industry Forces, Company Strategy at CAGNY Conference

CAMDEN, N.J.–(BUSINESS WIRE)–Feb. 17, 2016–
Campbell Soup Company (NYSE:CPB) President and Chief Executive
Officer Denise Morrison and Senior Vice President and Chief Financial
Officer Anthony DiSilvestro will provide an overview of the company’s
strategic direction at 10:30 a.m. EST today at the Consumer Analyst
Group of New York (CAGNY) Conference in Boca Raton, Fla. Campbell’s
presentations will be webcast live at investor.campbellsoupcompany.com.

Morrison will share her perspective on consumers and the food industry,
and provide an update on the actions Campbell is taking to deliver
sustainable, profitable growth while improving returns for shareholders.
She will highlight the company’s progress on its four strategic
imperatives:

  1. Purpose and Transparency: In an effort to set the standard for
    transparency in the food industry, Campbell launched www.whatsinmyfood.com
    to share more information with consumers about its food. Morrison will
    also discuss Campbell’s support for comprehensive federal legislation
    to establish a mandatory national standard for GMO labeling.
  2. Health and Well-being: Campbell is pursuing innovation to
    deliver growth across health and well-being, including the perimeter
    and the center store. Morrison will outline the growing appeal of
    fresh and better-for-you foods that led to the creation of the
    Campbell Fresh division.
  3. Developing Markets: Morrison will discuss Campbell’s commitment
    to increase its footprint in faster-growing geographies despite
    short-term dislocations, with a priority focus on Asia through its
    Global Biscuits and Snacks division.
  4. Digital Marketing and e-commerce Expansion: The company expects
    digital media to increase to about 40 percent of its total marketing
    spend in fiscal 2016. Morrison will discuss Campbell’s efforts to
    build its e-commerce capabilities in China.

DiSilvestro will provide an update on the company’s redesigned
organization structure, including its three divisions, and its cost
savings initiative, which leverages zero-based budgeting. Campbell’s
divisions – Americas Simple Meals and Beverages, Global Biscuits and
Snacks, and Campbell Fresh – have clearly defined roles within the
company’s enterprise strategy. Its three-year cost savings initiative is
delivering better-than-expected benefits and, as a result, the savings
target has been increased from $250 million to $300 million. Over time,
cost savings will provide investment funding for growth and margin
expansion. The creation of the Integrated Global Services organization
has more effectively and efficiently provided shared services to the
divisions.

“These actions have had a positive impact on our costs and, over time,
will contribute to changes in our culture,” said Morrison. “As a result,
we’re now far better positioned to live our purpose, execute our
strategic imperatives and have greater flexibility to invest in
longer-term innovation models.”

Today’s presentation will be archived on investor.campbellsoupcompany.com
and available for replay later today.

About Campbell Soup Company

Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food
that matters for life’s moments.” We make a range of high-quality soups
and simple meals, beverages, snacks and packaged fresh foods. For
generations, people have trusted Campbell to provide authentic,
flavorful and readily available foods and beverages that connect them to
each other, to warm memories and to what’s important today. Led by our
iconic Campbell’s brand, our portfolio includes Pepperidge
Farm, Bolthouse Farms, Arnott’s, V8, Swanson, Pace, Prego, Plum, Royal
Dansk, Kjeldsens
and Garden Fresh Gourmet. Founded in 1869,
Campbell has a heritage of giving back and acting as a good steward of
the planet’s natural resources. The company is a member of the Standard
& Poor’s 500 and the Dow Jones Sustainability Indexes. For more
information, visit www.campbellsoupcompany.com
or follow company news on Twitter via @CampbellSoupCo.
To learn more about how we make our food and the choices behind the
ingredients we use, visit www.whatsinmyfood.com.

Forward-Looking Statements

This release contains “forward-looking statements” that reflect the
company’s current expectations about the impact of its future plans and
performance on the company’s business or financial results. These
forward-looking statements include statements made regarding the
company’s marketing strategies and its new enterprise structure and cost
reduction initiative. Forward-looking statements rely on a number of
assumptions and estimates that could be inaccurate and which are subject
to risks and uncertainties. The factors that could cause the company’s
actual results to vary materially from those anticipated or expressed in
any forward-looking statement include (1) the company’s ability to
manage organizational change effectively; (2) the company’s ability to
realize projected benefits and cost savings from the new structure; (3)
the impact of strong competitive responses to the company’s marketing
strategies and its efforts to leverage its brand power in the market;
(4) the impact of changes in consumer demand for the company’s products;
(5) the risks associated with trade and consumer acceptance of the
company’s initiatives, including its trade and promotional programs; (6)
the practices and increased significance of certain of the company’s key
trade customers; (7) the impact of fluctuations in the supply or costs
of energy and raw and packaging materials; (8) the impact of portfolio
changes; (9) the uncertainties of litigation; (10) the impact of changes
in currency exchange rates, tax rates, interest rates, debt and equity
markets, inflation rates, economic conditions and other external
factors; (11) the impact of unforeseen business disruptions in one or
more of the company’s markets due to political instability, civil
disobedience, armed hostilities, natural disasters or other calamities;
and (12) other factors described in the company’s most recent Form 10-K
and subsequent Securities and Exchange Commission filings. The company
disclaims any obligation or intent to update the forward-looking
statements in order to reflect events or circumstances after the date of
this release.

Source: Campbell Soup Company

Campbell Soup Company
INVESTOR CONTACT:
Ken
Gosnell, 856-342-6081
ken_gosnell@campbellsoup.com
or
MEDIA
CONTACT:
Carla Burigatto, 856-342-3737
carla_burigatto@campbellsoup.com