ADM, Cargill to Launch Soybean Joint Venture in Egypt

• JV to meet growing customer demand for soybean meal and oil in the
  region

CHICAGO & MINNEAPOLIS–(BUSINESS WIRE)–Archer Daniels Midland Company (NYSE: ADM) and Cargill have reached
agreement to launch a joint venture to provide soybean meal and oil for
customers in Egypt.

The joint venture would own and operate the National Vegetable Oil
Company soy crush facility in Borg Al-Arab along with related commercial
and functional activities, including a separate Switzerland-based
merchandising operation that would supply soybeans to the crush plant.
Cargill is currently expanding the plant from 3,000 metric tons to 6,000
metric tons of daily crush capacity. The plant will be able to produce
higher-protein soybean meal while reducing the need for soybean meal
imports into Egypt.

“The joint venture brings together Cargill and ADM’s operational and
commercial expertise to meet growing local demand for higher-quality
feed ingredients,” said Roger Janson, head of Cargill’s grain and
oilseed business in EMEA. “This deal is part of our strategy to grow
Cargill’s business across Egypt and the North Africa region and helps us
better serve customers in the market with safe, affordable and
nutritious food.”

“ADM is adding to its geographic footprint in regions of expanding
growth, and we’re particularly pleased to continue to enhance our
capabilities in Egypt,” said John Grossmann, ADM’s president, EMEA
Oilseeds crush. “Egypt is an important market where demand for
high-quality soybean meal and oil is outpacing the rest of the world. By
bringing together expertise and resources from two great companies, and
by utilizing an existing facility and infrastructure, this joint venture
would be perfectly positioned to efficiently meet growing Egyptian
demand.”

The joint venture will be managed as a standalone entity consisting of
equal ownership by ADM and Cargill, with a management team reporting to
a board of directors appointed by the two parent companies. The joint
venture’s assets will not include Cargill’s grain business and port
terminal in Dekheila, or the ADM-Medsofts joint venture at the Port of
Alexandria. Each company will continue its separate business activities
in the country and region.

The deal, which is not yet complete, is subject to regulatory review.
The companies hope to formally launch the joint venture in mid-2018.

Forward-Looking Statements

Some of the above statements constitute forward-looking statements.
ADM’s filings with the SEC provide detailed information on such
statements and risks, and should be consulted along with this release.
To the extent permitted under applicable law, ADM assumes no obligation
to update any forward-looking statements.

About ADM

For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve the vital
needs of a growing world. Today, we’re one of the world’s largest
agricultural processors and food ingredient providers, with
approximately 31,000 employees serving customers in more than 170
countries. With a global value chain that includes approximately 500
crop procurement locations, 270 ingredient manufacturing facilities, 44
innovation centers and the world’s premier crop transportation network,
we connect the harvest to the home, making products for food, animal
feed, industrial and energy uses. Learn more at www.adm.com.

About Cargill

Cargill provides food, agriculture, financial and industrial products
and services to the world. Together with farmers, customers, governments
and communities, we help people thrive by applying our insights and 150
years of experience. We have 155,000 employees in 70 countries who
are committed to feeding the world in a responsible way, reducing
environmental impact and improving the communities where we live and
work. For more information, visit Cargill.com
and our News
Center.

Contacts

Archer Daniels Midland Company
Media Relations
Jackie
Anderson
[email protected]
312-634-8484
or
Cargill
Corinne
Holtshausen
[email protected]
+44
1932 861204