CEO.CA Chairman's Briefing

ORRVILLE, Ohio, May 21, 2022 /CNW/ -- The J. M. Smucker Co. today announced a voluntary recall of select Jif^® products sold in Canada due to potential salmonella contamination. If consumers have products matching the following description in their possession, they should dispose of it immediately. This information can be found on the product packaging.

The product lot code range for the impacted products is 1274425 – 2140425.

Healthy people infected with Salmonella should monitor themselves for some or all of the following symptoms: nausea, vomiting, diarrhea or bloody diarrhea, abdominal cramping and fever. Rarely, Salmonella can result in more serious ailments, including arterial infections, endocarditis, arthritis, muscle pain, eye irritation, and urinary tract symptoms. Consumers exhibiting these signs after having contact with this product should contact their healthcare providers.

Consumers who have questions or would like to report adverse reactions should visit www.jif.ca/En/Contact-Us  or call 800-828-9980.

This recall is being conducted in cooperation with the Canadian Food Inspection Agency.

Based on the information known to date, we are unable to estimate the financial impact of the recall either on our fiscal year ended April 30, 2022, or on our current fiscal year 2023.  We will provide additional information as soon as possible.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from any future results, performance, or achievements expressed or implied by those forward-looking statements. Readers should understand that the risks, uncertainties, factors, and assumptions listed and discussed in this press release, including the following important factors and assumptions, could affect the future results of the Company and could cause actual results to differ materially from those expressed in the forward-looking statements:

• the impact of food security concerns involving either our products or our competitors' products, including product recalls;
• the impact of the COVID-19 pandemic on our business, industry, suppliers, customers, consumers, employees, and communities;
• disruptions or inefficiencies in our operations or supply chain, including any impact caused by product recalls, political instability, terrorism, armed hostilities (including the recent outbreak of hostilities between Russia and Ukraine), extreme weather conditions, natural disasters, pandemics (including the COVID-19 pandemic), or other calamities;
• risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging, and transportation;
• risks associated with derivative and purchasing strategies we employ to manage commodity pricing and interest rate risks;
• our ability to generate sufficient cash flow to continue operating under our capital deployment model, including capital expenditures, debt repayment, dividend payments, and share repurchases;
• our ability to implement and realize the full benefit of price changes, and the impact of the timing of the price changes to profits and cash flow in a particular period;
• general competitive activity in the market, including competitors' pricing practices and promotional spending levels;
• the concentration of certain of our businesses with key customers and suppliers, including single-source suppliers of certain key raw materials and finished goods, and our ability to manage and maintain key relationships;
• impairments in the carrying value of goodwill, other intangible assets, or other long-lived assets or changes in the useful lives of other intangible assets or other long-lived assets; and
• risks related to other factors described under "Risk Factors" in other reports and statements we have filed with the Securities and Exchange Commission.

Readers are cautioned not to unduly rely on such forward-looking statements, which speak only as of the date made, when evaluating the information contained in this press release.  The Company undertakes no obligation to update or revise these forward-looking statements, which speak only as of the date made, to reflect new events or circumstances.

SOURCE The J.M. Smucker Co.

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