Smithfield Foods Inc. has publicly filed a registration statement on Form S-1 with the U.S. Securities & Exchange Commission to sell shares of its common stock in an underwritten initial public offering. The company's existing shareholder, identified in the registration statement, is also expected to sell shares of the company's common stock in the proposed offering. The timing, the number of shares that may be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The company has applied to list its shares of common stock on the Nasdaq Global Select Market under the ticker symbol "SFD."

Morgan Stanley, BofA Securities and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the proposed offering. Barclays, Citigroup, UBS Investment Bank, BNP PARIBAS and HSBC are acting as joint book-running managers.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to this offering, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC, 28255-0001, Attn: Prospectus Department, by email at [email protected]; and Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, by telephone: 1-866-471-2526 or by email at [email protected].

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A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would not be permitted.