Exhibit 99.2

Q2 FY14 Question & Answer

Dec. 19, 2013

Sales for Peter Pan and Swiss Miss were in line with last year’s sales for the quarter.

Consumer Foods organic volume was essentially flat.

Commercial Foods organic volume was essentially flat.

Approximately $151 million (versus approximately $81 million in Q2 FY13)

Approximately $146 million (versus approximately $94 million in Q2 FY13)

Approximately $95 million (versus approximately $53 million in Q2 FY13); the increase reflects the incremental interest related to the debt incurred to fund acquisitions, principally Ralcorp.

Unallocated Corporate amounts were $106 million of expense in the current quarter and $91 million of expense in the year-ago period. Current-quarter amounts include $9 million of unfavorable hedge-related impact and $29 million of net expense from other items impacting comparability. Year-ago period amounts include $16 million of unfavorable hedge-related impact and $10 million of expense related to other items impacting comparability. Excluding these amounts, unallocated Corporate expense was $68 million for the current quarter and $65 million in the year-ago period.

Approximately $106 million (versus approximately $97 million in Q2 FY13), reflecting an increase in shares outstanding.

Approximately 427 million shares for the quarter.

The company repurchased approximately 2 million shares of common stock during the quarter for approximately $69 million.

Gross margin = segment gross profit* divided by net sales

Gross margin = $1,024/$4,714 = 22%

Operating margin = segment operating profit** divided by net sales

Operating margin = $548/$4,714 = 12%

2

The net-debt-to-total-capital ratio for the quarter was 63%.

This ratio is defined as net debt divided by the sum of net debt plus shareholders’ equity. See question No. 12 for the components of net debt.

The company is on target for at least $1.5 billion of debt reduction by the end of FY15, excluding any repayment funded from the proceeds received as a result of the Ardent Mills transaction.

The company expects the tax rate to be in the range of 33-34%, excluding items impacting comparability. The company acknowledges that the quarterly rates may be different from this, given the timing of certain matters, but the overall rate is expected to approximate 33-34%.

Total capital expenditures for fiscal 2014 are projected to be approximately $650 million.

Total depreciation and amortization for fiscal 2014 is projected to be approximately $600 million.

Net interest expense for fiscal 2014 is projected to be approximately $400 million.

3

ConAgra Foods, Inc.

Segment Operating Results

(in millions)

(unaudited)

Please see question 20 about applicability of prior items impacting comparability.

4

ConAgra Foods, Inc.

Income Statement for Fiscal 2013 and 2014

(in millions)

(unaudited)

Please see question 20 about applicability of prior items impacting comparability.

5

There is no change to historical items impacting comparability for the Corporate, Consumer Foods, or Commercial Foods segments. Items impacting comparability for the former Ralcorp segments now relate to the Private Brands segment.

Note on Forward-looking Statements:

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. These risks and uncertainties include, among other things: ConAgra Foods’ ability to realize the synergies and benefits contemplated by the acquisition of Ralcorp and its ability to promptly and effectively integrate the business of Ralcorp; the timing to consummate the potential joint venture combining the flour milling businesses of ConAgra Foods, Cargill, and CHS; ConAgra Foods’ ability to realize the synergies and benefits contemplated by the potential joint venture; the availability and prices of raw materials, including any negative effects caused by inflation or adverse weather conditions; the effectiveness of ConAgra Foods’ product pricing, including any pricing actions and promotional changes; future economic circumstances; industry conditions; ConAgra Foods’ ability to execute its operating and restructuring plans; the success of ConAgra Foods’ cost-saving initiatives, innovation, and marketing investments; the competitive environment and related market conditions; operating efficiencies; the ultimate impact of any ConAgra Foods product recalls; access to capital; ConAgra Foods’ success in efficiently and effectively integrating its acquisitions; actions of governments and regulatory factors affecting ConAgra Foods’ businesses, including the Patient Protection and Affordable Care Act; the amount and timing of repurchases of ConAgra Foods’ common stock and debt, if any; and other risks described in ConAgra Foods’ reports filed with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors and security holders are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. ConAgra Foods disclaims any obligation to update or revise statements contained in this document to reflect future events or circumstances or otherwise.

6