Growing Opportunity. Steve Mills, Executive Vice President and CFO John Rice, Executive Vice President Commercial and Production

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1 Growing Opportunity Steve Mills, Executive Vice President and CFO John Rice, Executive Vice President Commercial and Production Deutsche Bank Global Consumer & Food Retail Conference June 18,

2 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. 2

3 We see Global Trends that Signal Great Opportunity More Food, and Healthier Options Environmental Improvement More Energy, from Diverse Sources 3

4 Earnings Per Share ($) 4.00 We Have Been Delivering Consistent Earnings Growth mo FY07 9 mo FY08 Gains on asset sales

5 Our Extensive Value Chain Provides Growth Opportunities Food Feed Fuels 5 Industrials

6 The Ag Processing Value Chain Provides Origination and Transportation Opportunities Diversify Feedstocks Grow BioEnergy Business OILSEEDS CORN COCOA WHEAT Agricultural Processing Value Chain FOOD FEED FUEL INDUSTRIAL Expand Geographic Scope of Core Model Technology and Innovation 6

7 The Ag Processing Value Chain Provides Origination and Transportation Opportunities Diversify Feedstocks Grow BioEnergy Business OILSEEDS CORN COCOA WHEAT Agricultural Processing Value Chain FOOD FEED FUEL INDUSTRIAL Expand Geographic Scope of Core Model Technology and Innovation 7

8 Global Crop Intelligence 8

9 Our Origination Assets and Origination Facilities 9

10 Transportation Assets are Positioned to Capture Global Crop Sourcing and Delivery Opportunities Origination Facilities Origination Routes 10

11 Our People use our Global Crop Intelligence and Asset Network to Create Value 11

12 We are Growing our Origination & Transportation Network Selectively adding elevators Improving existing elevator throughput Adding port and river elevator capabilities Expanding North American railcar fleet Expanding South American origination and transportation Growing destination business 12

13 Processing Opportunities add Value to the Crops We Originate Diversify Feedstocks Grow BioEnergy Business OILSEEDS CORN COCOA WHEAT Agricultural Processing Value Chain FOOD FEED FUEL INDUSTRIAL Expand Geographic Scope of Core Model Technology and Innovation 13

14 Oilseeds Processing Starts 14 with Crushing Oilseed (soybeans) Crude Veg. Oil Seed Prep Solvent Extraction 5 75 Hulls Protein Meal

15 Oilseed Processing s Production Flexibility Creates Value Crude Vegetable Oil Bulk Crude Oil Refining Transesterification Biodiesel Hydrogenation Bottled Oil Salad Dressing Bulk Oil Margarine Interesterification 15 Shortening

16 We are Increasing Oilseed Processing Capacity to Meet Meal and Oil Demand Expanding crushing capacities in line with growing global demand Expanding palm capabilities Expanding refining and bottling Expanding low trans production as market demand grows 16

17 Corn Processing s Production Flexibility Enhances Value CORN SYRUP, HIGH FRUCTOSE CORN SYRUP Dextrose (Liquid and Crystalline), Maltodextrin Xanthan Gum, Citric Acid, Lactic Acid, Yeast CORN Starch Corn Oil Gluten Feed Gluten Meal Sorbitol (Liquid and Crystalline) Propylene Glycol, Ethylene Glycol Lysine, Threonine, Astaxanthin FUEL ALCOHOL Food and Industrial Starches Ethyl Lactate PHA (biodegradable plastic) Additional Products 17

18 We are Investing in Corn Processing to Expand Production and Lower Costs Investing to expand ethanol volumes Investing to lower plant production costs Investing to extend transportation advantage Building biodegradable plastic production for Metabolix JV 18

19 We are Improving Cocoa Wheat and Malt Operating Efficiencies Enhance Cocoa footprint: - Hazelton, PA, processing - Ghana, origination, processing Expand finished/semi-finished chocolate capability to deliver higher values Enhance network and plant efficiencies of Wheat processing Drive cost efficiencies in Malt 19

20 Our Distribution Network Delivers Crops and Processed Products to our Customers Diversify Feedstocks Grow BioEnergy Business OILSEEDS CORN COCOA WHEAT Agricultural Processing Value Chain FOOD FEED FUEL INDUSTRIAL Expand Geographic Scope of Core Model Technology and Innovation 20

21 ADM s Global Asset Base is Positioned to Capture Value Opportunities Origination Facilities Oilseed Processing Corn Processing Cocoa, Wheat & Malt Processing Origination Distribution Processing Distribution 21

22 Sales, Marketing and Technology Complete our Ag Processing Value Chain Diversify Feedstocks Grow BioEnergy Business OILSEEDS CORN COCOA WHEAT Agricultural Processing Value Chain FOOD FEED FUEL INDUSTRIAL Expand Geographic Scope of Core Model Technology and Innovation 22

23 Sales, Marketing and Technology Teams Identify New Product Opportunities 23

24 ADM is Positioned for New Fuel and Industrial Opportunities Positioned for renewable diesel Biocrude partnership with ConocoPhillips Establishing cellulosic research alliances Global origination capabilities for biomass Researching new industrial product opportunities 24

25 ADM is Meeting Growing Global Feed Demands Developing new feed formulations to improve animal production economics Developing expanded applications of DDGS in feed formulations 25

26 Innovation Delivers Food Convenience, Nutrition and Taste Soy protein & Edible Beans Snack Flavoring Edible Experience Beans Extrusion Extrusion Processing Nutrition Science 26

27 Our Extensive Value Chain Provides Growth Opportunities Food Feed Fuels Industrials 27

28 Financial Performance, Metrics and Capital Expenditures

29 Update on Major Construction Projects Plant Location Project Columbus, NE Ethanol Cedar Rapids, IA Ethanol Calendar Year Current Timeline Phase 1 Project Completion Q309 Q110 Clinton, IA Co-Generation Q308 Q109 Columbus, NE Co-Generation Q309 Q409 Clinton, IA PHA Q209 Hazleton, PA Cocoa Q408 Q309 Decatur, IL Propylene Ethylene Glycol Q309 Total Projected Costs $2.6B Third Quarter FY2008

30 (Amounts in millions, except for per share data and percentages) Financial Highlights Nine Months FY08 FY07 % Change Net sales and other operating income $48,032 $31,804 51% Gross Profit 3,035 2,519 20% Net earnings 1,430 1,207 18% Diluted earnings per share % 30

31 Our Operating Profits are Growing (Amounts in millions, except for percentages) Nine Months FY08 FY07 % Change Oilseeds Processing % Corn Processing (20%) Agricultural Services % Other % Total Segment Operating Profit 2,665 2,008 33% Corporate (579) (248) (133%) Profit Before Income Taxes $ 2,086 $ 1,760 19% 31

32 Our Balance Sheet Reflects the Impact of Increased Commodity Prices and Our Capital Construction Projects (Amounts in millions) March 31 June INVESTED CAPITAL Working capital $ 14,314 $ 7,787 Property, plant and equipment 6,860 6,010 Investment in affiliates 2,877 2,498 Long-term marketable securities Other non-current assets $ 25,598 $ 17,783 FINANCED BY Short-term debt $ 4,916 $ 468 Long-term debt 6,080 4,817 Deferred liabilities 1,440 1,245 Equity 13,162 11,253 $ 25,598 $ 17,783 32

33 Equity Units Offering Provides Additional Financial Flexibility $1.75 Billion 6.25% Coupon Up to 20% Equity Conversion Premium 33

34 Net Asset Base $B RONA Trends Up % QTR Rolling Avg Ended MAR '08 Working Capital Fixed Investment 4 QTR Rolling RONA % 4 QTR Rolling ROE % 0 34

35 Growing Opportunity Building Value We are executing strategic initiatives Our global asset base is positioned to capture value Our people expand the value of our global assets Our business portfolio is diverse and strong Our earnings are growing 35

36 Growing Opportunity 36

37 Oilseeds Processing is Globally Balanced and Positioned to Grow 91,000 MT/day oilseeds capacity - 56% NA (75% soybean, 25% softseed) - 31% Europe (54% soybean, 46% softseed) - 13% SA (98% soybean) Asia- Wilmar ownership (16% equity ownership) 22 MM MT/yr protein meal capacity 7.7 MM MT/yr vegetable oil capacity 1.6 MM MT/yr biodiesel capacity 37

38 Corn Processing s Diversified Product Portfolio Enhances Value 50,000 MT/day capacity in North America - 5 wet mills, 2 dry mills Leading positions in - corn sweeteners - ethanol - starches and amino acids JV growth opportunities - Eastern Europe - Mexican HFCS 38

39 Wheat, Cocoa & Malt Processing are Positioned to Meet Global Market Demand 26,700 MT/day Flour Milling capacity - North America/Caribbean - Europe 1,800 MT/day Cocoa Processing capacity - NA, SA, Europe, Africa, and Asia 2,100 MT/day Malt Processing capacity - North America - Australia/New Zealand 39

40 Frequently Asked Questions

41 What Drives Ag Services Results? Storage revenues grow with crop size Transportation revenues move with barge rates Disparity in global crop availability creates arbitrage opportunities Market volatility creates opportunities 41

42 How will ADM Balance Food and BioEnergy Opportunities? ADM is an agricultural processor, serving a wide variety of markets 90+% of sales go to food, feed and grain markets We are positioned to capture value across the entire agricultural processing chain Each market offers different opportunities, leveraging the entire value chain 42

43 Is Ethanol a Good Investment for ADM? The US ethanol business is attractive for an integrated corn processor We are confident we can meet our stated RONA return expectations with our corn dry mill investments We will add sugar ethanol to our capabilities when values are attractive We are positioned for the future of biomass ethanol and other biofuels 43