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Kellogg Company and Subsidiaries

CONSOLIDATED STATEMENT OF INCOME (millions, except per share data) Quarter ended October 1, October 2, 2011 2010 $3,312 1,962 886 464 58 (9) 397 107 $290 $290 $.81 $.80 $.4300 360 363 $3,157 1,788 828 541 62 1 480 143 $337 (1) $338 $.91 $.90 $.4050 373 376 Year-to-date period ended October 1, October 2, 2011 2010 $10,183 5,969 2,635 1,579 178 (10) 1,391 394 $997 (2) $999 $2.75 $2.73 $1.2400 363 365 359 $9,537 5,438 2,438 1,661 188 9 1,482 427 $1,055 (3) $1,058 $2.80 $2.78 $1.1550 378 381 368

(Results are unaudited)

Net sales Cost of goods sold Selling, general and administrative expense Operating profit Interest expense Other income (expense), net Income before income taxes Income taxes Net income Net income (loss) attributable to noncontrolling interests Net income attributable to Kellogg Company Per share amounts: Basic Diluted Dividends per share Average shares outstanding: Basic Diluted Actual shares outstanding at period end

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- 7Kellogg Company and Subsidiaries

SELECTED OPERATING SEGMENT DATA

(millions) (Results are unaudited) Net sales North America Europe Latin America Asia Pacific (a) Consolidated Segment operating profit North America (b) Europe Latin America Asia Pacific (a) Corporate (b) Consolidated (a) (b) Quarter ended October 1, October 2, 2011 2010 $2,217 585 274 236 $3,312 $2,130 564 247 216 $3,157 Year-to-date period ended October 1, October 2, 2011 2010 $6,812 1,840 816 715 $10,183 $6,469 1,730 709 629 $9,537

$357 84 43 23 (43) $464

$407 102 34 25 (27) $541

$1,203 287 152 79 (142) $1,579

$1,269 307 126 82 (123) $1,661

Includes Australia, Asia and South Africa. Research and Development expense totaling $3 million for the quarter ended October 2, 2010 and $8 million for the year-to-date period ended October 2, 2010 was reallocated to Corporate from North America.

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-8Kellogg Company and Subsidiaries

CONSOLIDATED STATEMENT OF CASH FLOWS (millions) Year-to-date period ended October 1, October 2, 2011 2010 $997 270 (2) 133 (187) 58 1,269 (392) 11 (381) 689 397 (946) 265 (693) (452) 10 (730) (20) 138 444 $582 $1,055 265 (53) 116 (45) (259) 1,079 (252) 2 (250) 547 (1) 178 (907) (435) 7 (611) 7 225 334 $559

(unaudited)

Operating activities Net income Adjustments to reconcile net income to operating cash flows: Depreciation and amortization Deferred income taxes Other Postretirement benefit plan contributions Changes in operating assets and liabilities Net cash provided by operating activities Investing activities Additions to properties Other Net cash used in investing activities Financing activities Net issuances of notes payable Issuances of long-term debt Reductions of long-term debt Net issuances of common stock Common stock repurchases Cash dividends Other Net cash used in financing activities Effect of exchange rate changes on cash and cash equivalents Increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Supplemental financial data: Cash Flow (operating cash flow less property additions) (a)

$877

$827

(a) We use this non-GAAP measure of cash flow to focus management and investors on the amount of cash available for debt reduction, dividend distributions, acquisition opportunities, and share repurchase.

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Kellogg Company and Subsidiaries

CONSOLIDATED BALANCE SHEET (millions, except per share data) October 1, 2011 (unaudited) Current assets Cash and cash equivalents Accounts receivable, net Inventories: Raw materials and supplies Finished goods and materials in process Deferred income taxes Other prepaid assets Total current assets Property, net of accumulated depreciation of $4,858 and $4,690 Goodwill Other intangibles, net of accumulated amortization of $48 and $47 Pension Other assets Total assets Current liabilities Current maturities of long-term debt Notes payable Accounts payable Accrued advertising and promotion Accrued income taxes Accrued salaries and wages Other current liabilities Total current liabilities Long-term debt Deferred income taxes Pension liability Nonpension postretirement benefits Other liabilities Commitments and contingencies Equity Common stock, $.25 par value Capital in excess of par value Retained earnings Treasury stock, at cost Accumulated other comprehensive income (loss) Total Kellogg Company equity Noncontrolling interests Total equity Total liabilities and equity
* Condensed from audited financial statements.

January 1, 2011 * $444 1,190 224 832 110 115 2,915 3,128 3,628 1,456 333 387 $11,847

$582 1,302 252 761 159 122 3,178 3,193 3,622 1,455 480 335 $12,263

$737 1,200 446 18 239 461 3,101 5,300 790 195 191 401

$952 44 1,149 405 60 153 421 3,184 4,908 697 265 214 425

105 510 6,644 (3,050) (1,926) 2,283 2 2,285 $12,263

105 495 6,122 (2,650) (1,914) 2,158 (4) 2,154 $11,847

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Kellogg Company and Subsidiaries

Analysis of net sales and operating profit performance Third quarter of 2011 versus 2010 (dollars in millions) 2011 net sales 2010 net sales % change - 2011 vs. 2010: Volume (tonnage) (b) Pricing/mix Subtotal - internal business Foreign currency impact Total change North America $ 2,217 $ 2,130 -.7% 4.4% 3.7% .4% 4.1% Europe $ 585 $ 564 -4.5% 2.9% -1.6% 5.2% 3.6% Latin Asia America Pacific (a) $ 274 $ 236 $ 247 $ 216 -3.0% 12.3% 9.3% 1.3% 10.6% -5.0% 7.0% 2.0% 7.8% 9.8% Corporate $ $ Consolidated $ 3,312 $ 3,157 -1.9% 5.0% 3.1% 1.8% 4.9%

(dollars in millions) 2011 operating profit 2010 operating profit % change - 2011 vs. 2010: Internal business Foreign currency impact Total change
(a) (b) (c) Includes Australia, Asia, and South Africa.

North America (c) $ 357 $ 407 -12.7% .5% -12.2%

Europe $ 84 $ 102 -20.9% 4.5% -16.4%

Latin America $ 43 $ 34 19.0% 2.8% 21.8%

Asia Pacific (a) $ 23 $ 25 -13.6% 4.5% -9.1%

ConsoliCorporate (c) dated $ (43) $ 464 $ (27) $ 541 -54.5% -54.5% -15.7% 1.6% -14.1%

We measure the volume impact (tonnage) on revenues based on the stated weight of our product shipments. Research and Development expense totaling $3 million for the quarter ended October 2, 2010 was reallocated to Corporate from North America.

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Kellogg Company and Subsidiaries

Analysis of net sales and operating profit performance Year-to-date 2011 versus 2010 (dollars in millions) 2011 net sales 2010 net sales % change - 2011 vs. 2010: Volume (tonnage) (b) Pricing/mix Subtotal - internal business Foreign currency impact Total change North America Europe $ 6,812 $ 1,840 $ 6,469 $ 1,730 1.0% 3.8% 4.8% .5% 5.3% -2.7% 2.2% -.5% 6.8% 6.3% Latin Asia Pacific America (a) Corporate $ 816 $ 715 $ $ 709 $ 629 $ -% 8.8% 8.8% 6.3% 15.1% -% 2.6% 2.6% 11.1% 13.7% Consolidated $ 10,183 $ 9,537 .2% 3.8% 4.0% 2.8% 6.8%

(dollars in millions) 2011 operating profit 2010 operating profit % change - 2011 vs. 2010: Internal business Foreign currency impact Total change
(a) (b) (c) Includes Australia, Asia, and South Africa.

North America Europe (c) $ 1,203 $ 287 $ 1,269 $ 307 -5.7% .5% -5.2% -12.8% 6.4% -6.4%

Latin Asia Pacific ConsoliCorporate (c) America (a) dated $ 152 $ 79 $ (142) $ 1,579 $ 126 $ 82 $ (123) $ 1,661 12.6% 7.5% 20.1% -13.7% 9.9% -3.8% -14.9% -14.9% -7.6% 2.7% -4.9%

We measure the volume impact (tonnage) on revenues based on the stated weight of our product shipments. Research and Development expense totaling $8 million for the year-to-date period ended October 2, 2010 was reallocated to Corporate from North America.

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Kellogg Company and Subsidiaries

Up-Front Costs*
$ millions Quarter ended October 1, 2011 Cost of goods sold (a) 2011 North America Europe Latin America Asia Pacific Corporate Total $ 3 4 7 Selling, general and administrative expense $ 9 9 $ Year-to-date period ended October 1, 2011 Cost of goods sold (a) 12 4 16 $ 14 12 2 28 Selling, general and administrative expense $ 19 1 20 $

Total

Total 33 12 1 2 48

Quarter ended October 2, 2010 Cost of goods sold 2010 North America Europe Latin America Asia Pacific Corporate Total $ 3 1 1 5 Selling, general and administrative expense $ 9 1 1 11 $

Year-to-date period ended October 2, 2010 Cost of goods sold 9 4 1 1 1 16 $ 13 11 2 2 28 Selling, general and administrative expense $ 18 1 2 3 24 $

Total

Total 31 12 2 4 3 52

2011 Variance - better(worse) than 2010 North America $ Europe Latin America Asia Pacific Corporate Total $

(3) $ (1) 1 1 (2) $

1 1 2

(3) 1 1 1 -

(1) $ (1) 2 - $

(1) $ 1 (1) 2 3 4 $

(2) 1 2 3 4

* Up-front costs are charges incurred by the Company which will result in future cash savings and/or reduced depreciation. They also include expense associated with capital projects across our supply chain network. (a) Includes expense associated with capital projects across our supply chain network incurred primarily in North America totaling $4 million and $16 million for the quarter and year-to-date periods ended October 1, 2011, respectively.

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