SUPERVALU Inc. - Shareholder/Analyst Call

Supervalu Inc. (SVU)

July 17, 2012 11:30 am ET

Executives

Todd N. Sheldon - Senior Vice President, General Counsel and Corporate Secretary

Wayne C. Sales - Non Executive Chairman and Chairman of Corporate Governance & Nominating Committee

Craig R. Herkert - Chief Executive Officer, President and Director

Presentation

Todd N. Sheldon

Good morning again. Welcome to our 2012 Annual Meeting of Stockholders. I'm Todd Sheldon, and in accordance with the bylaws of the company, I'll be the Secretary of the meeting. I'd like to quickly review the following rules of conduct, which will apply during the meeting. A copy of these were provided for you outside of the registration desk, but I'm going to just walk through them briefly.

First, the business of the meeting will follow the order shown on the agenda. If you have questions, we'll have a question-and-answer session at the end of the meetings led by Craig Herkert, our Chief Executive Officer and President. Only holders of record of common stock on May 22, 2012, are entitled to vote at the meeting. You need not vote at this meeting if you've already voted by proxy. However, if you wish to revoke your proxy and vote in person, or if you've not voted, you'll be given the opportunity to request a ballot and to vote before the polls are closed.

Only orderly proposals will be considered. Under the rules governing such proposals, a summary of which is set forth in our proxy statement, proposals must be submitted a certain time in advance of the meeting. Failure to have submitted a proposal will cause it to be out of order and we'll bar it from consideration today. Such proposals may be submitted in advance of our next annual meeting in accordance with the applicable rules and our company bylaw provisions.

If you wish to speak or ask a question during the time allotted after the CEO's business update, please raise your hand. After you're recognized, kindly stand and once a microphone is brought to you, give us your name, address and state whether you're an individual stockholder, proxy holder or representative of an organization holding shares. Please note that only 1 representative will be allowed to speak on behalf of a stockholder.

Stockholder questions or remarks must be addressed to the CEO or the Chairman and must be relevant to the meeting, pertinent to the matters properly before the meeting, not repetitions of a prior question or remark and stated briefly within a time limit of 2 minutes. This meeting is not to be used as a form to present general economic, political or other views that are not directly related to the business of the company.

Individual matters not of concern to stockholders generally, such as employee or retiree issues, product complaints, et cetera, can be dressed with one of our representatives here at the meeting, and we'll be happy to direct you to them after the meeting. Please permit each speaker to conclude his or her remarks without interruption. The Chairman or CEO will stop speakers when they are out of order. Use of cameras, sound recording equipment, communication devices or other similar equipment is prohibited without the express written permission of the company. The Chairman will have the authority necessary to preside over the meeting and make any and all determinations with respect to the conduct of the meeting and the procedures to be followed during the meeting. Upon violation of these rules, the Chairman or CEO will give a warning and if the violation persists or if there's a second valuation, it will be considered a cause for expulsion from the meeting.

If you can put the Safe Harbor slide up. Even though we're not presenting a financial report in conjunction with this meeting, we are going to have a question-and-answer session, and our Chief Financial Officer, Sherry Smith, is available for questions. Therefore, we want to make it clear that portions of this meeting could be subject and should be considered subject to the Safe Harbor Statement above. I'm not going to read it for you, but it's here for you, and just know that any and all answers that we give or portions of our CEO's report are subject to and provided in conjunction with the Safe Harbor Statement.

With that, I'd like to turn the meeting over to our Non-executive Chairman, Mr. Wayne Sales.

Wayne C. Sales

Thank you, Todd. Good morning, and I'd like to welcome each of you to our 2012 Annual Meeting of Stockholders. It is a pleasure to see so many of you here this morning. I'm Wayne Sales, the Non-executive Chairman. And in accordance with the bylaws of the corporation, I will chair the meeting this morning.

We'd like to have our annual meeting out of our headquarters in Eden Prairie from time to time, and I'm very proud this year to be in St. Louis where we have such a strong connection through our Save-A-Lot headquarters, our Save-A-Lot stores and then, of course, our Shop 'n Save headquarters and stores as well.

First, I would like to introduce each of our directors in attendance. And before I do that, I'd like to personally thank each and every one of you for the job that you do in terms of your role as a director of this corporation. So I'd ask that you stand and be recognized as I call your name.

First, Irwin S. Cohen, was retired partner of Deloitte & Touche LLP; Ronald E. Daly, former Chief Executive Officer of Océ-US Holdings, Inc.; Susan E. Engel, Chief Executive Officer of Portero Luxury, Inc.; Philip L. Francis, retired Executive Chairman of PetSmart, Inc.; Edwin C. Gage, Chairman, Group LLC of Gage Marketing; Matthew E. Rubel, Senior Advisor, CPG Capital; Kathi P. Seifert, former Executive Vice President for Kimberly Clark Corporation.

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