X0306 4 2017-11-29 0 0000023217 CONAGRA BRANDS INC. CAG 0001427462 Batcheler Colleen C/O CONAGRA BRANDS, INC. 222 W. MERCHANDISE MART PLAZA, STE 1300 CHICAGO IL 60654 0 1 0 0 EVP Gen Counsel & Corp Secty Common Stock 2017-11-29 4 M 0 48369 18.42 A 211514 D Common Stock 2017-11-29 4 M 0 72082 23.00 A 283596 D Common Stock 2017-11-29 4 S 0 120451 37.50 D 163145 D Employee Stock Options (right to buy) 18.42 2017-11-29 4 M 0 48369 0.00 D 2022-07-16 Common Stock 48369 0 D Employee Stock Options (right to buy) 23.00 2017-11-29 4 M 0 72082 0.00 D 2024-07-13 Common Stock 72082 0 D Shares sold pursuant to a predefined Rule 10b5-1 trading plan. All of the shares being sold were acquired by the Reporting Person within the past two business days upon the exercise of stock options. Reflects an antidilution adjustment to the number of options (originally granted on July 16, 2012 and expiring July 16, 2022, for 120,000 shares at an exercise price of $24.74 per share) held by the Reporting Person and the exercise price thereof, which antidilution adjustment was made prior to the exercise date in connection with the spinoff of Lamb Weston Holdings, Inc. from the Issuer on November 9, 2016 (the "Spinoff"). These stock options, which covered 48,369 shares immediately following the Spinoff, became exercisable as to 40% on July 16, 2013, 30% on July 16, 2014, and 30% on July 16, 2015. Reflects an antidilution adjustment to the number of options (originally granted on July 14, 2014 and expiring July 13, 2024, for 153,285 shares at an exercise price of $30.89 per share) held by the Reporting Person and the exercise price thereof, which antidilution adjustment was made prior to the exercise date in connection with the Spinoff. These stock options, which covered 205,951 shares immediately following the Spinoff, became exercisable as to 40% on July 14, 2015, 30% on July 14, 2016, and 30% on July 14, 2017. /s/ Christine Herbas, attorney-in-fact 2017-12-01