Navigating Transportation Options to Best Serve Our Customers Mike Henderson 2015 Global Trade Exchange

International Feed Snapshot Established in 1999 by Bernie and Carrie Kaiser Private, Family Owned Company Based in Long Lake, MN (Greater Minneapolis Area) 2

Core Business 3 ORIGINATION of Grains, Meals and Animal Proteins directly from Farmers and Producers TRANSLOAD of Bulk and Packaged Agricultural Products into Containers EXPORT of Grains, Meals and Animal Proteins to over 30 International Markets in Asia, Middle East and Latin America

Containerized Exports Grains and Oilseeds Non-GMO Corn and Soybeans US #2 Corn & US #2 Soybeans Milling and Feed Wheat Feed Proteins DDGS SBM Corn Gluten Meal High Fat Canola Meal Cottonseed Meal Sunflower Seed Meal 4 Animal Proteins Poultry By Product Meals Flash Dried Blood Meal Beef MBM Pork MBM Feather Meal Spray Dried Inedible Eggs Specialty Proteins Deproteinized Whey Whey Protein Concentrate Whey Protein Isolate

Ocean Freight Outlook 5

Historically low ocean freight levels on many trade lanes – TPWEB Container availability during harvest (Import Peak Season)? Get grain to containers or containers to grain 6

International Feed Loading Locations 7

Ocean Freight Outlook October 1 GRI of $300 per 40’ container announced – more to follow Baltic Dry Index China Demand Bunker Alliances Capacity Reductions if rates do not rebound – blanked sailings/string cancellations 8

Ocean Freight Outlook Plan ahead Bookings, equipment availability, vessel space, GRI notices Have the conversation 9

THANK YOU Questions?