Director Essay

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BARCLAYS CAPITAL 2011 RETAIL & RESTAURANTS CONFERENCE NEW YORK, NY APRIL 26, 2011 Comments by Dave Dillon: Good morning and thank you for joining us. I am Dave Dillon, Chairman and Chief Executive Officer of The Kroger Co. With me today are: Mike Schlotman, Senior Vice President and Chief Financial Officer; Cindy Holmes, Director of Investor Relations; and Carin Fike, Director and Assistant Treasurer. Before we begin, I want to remind everyone that the discussion today will include forward-looking statements. I want to caution you that such statements are predictions, and actual events or results can differ materially. A detailed discussion of the many factors that we believe may have a material effect on our business, on an ongoing basis, is contained in our SEC filings. Best-In-Class Retailer This morning we plan to provide an overview of our company and describe why Kroger is a compelling investment for shareholders. Mike will outline our earnings growth strategy. He will also describe how Kroger’s financial strategy rewards our shareholders. First, I want to highlight several of Kroger’s key competitive strengths that support the continued growth of our business in a competitive and evolving industry. Our primary advantages include: Significant scale with over 2,400 supermarkets across a broad geography of 31 states producing over $80 billion in annual revenues; A strong market share position – our supermarkets hold the #1 or #2 share in 38 of the 42 major markets that we serve; Proprietary consumer insights that we use to drive strong customer loyalty; Outstanding positive identical supermarket sales momentum; Page 1 of 9 A consistent record of rewarding shareholders through share repurchases and dividends; A highly experienced and proven leadership team. Kroger’s key leadership includes individuals with long-term experience from both inside and outside

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