Kraft Foods (KRFT) 8-K Regulation FD Disclosure

Exhibit 99.1

Kraft Adjusted EBITDA reconciliation

$ millions
	FY 2012			FY 2013			FY 2014			Q1 2014			Q1 2015		LTM (ending Q1 2015)
Net earnings	$	1,642		$	2,715		$	1,043		$	513		$	429	$	959
Interest expense, net		238			475			475			119			118		474
Provision for income tax		811			1,375			363			275			204		292
Depreciation, including accelerated depreciation for restructuring		428			393			384			96			102		390
Amortization		—			—			1			—			—		1
EBITDA	$	3,119		$	4,958		$	2,266		$	1,003		$	853	$	2,116
Merger related costs		—			—			—			—			17		17
Restructuring & related charges, excluding accelerated depreciation(a)		233			261			71			14			21		78
Mark to market accounting impacts		176			(1,660	)		1,180			(58	)		68		1,306
Other (income)/expense, net(b)		(16	)		12			(19	)		(38	)		14		33
Stock based compensation(c)		54			65			95			29			16		82
Mondelēz royalty income		(41	)		—			—			—			—		—
Adjusted EBITDA	$	3,525		$	3,636		$	3,593		$	950		$	989	$	3,632

(a) This includes costs related to reorganization activities including severance, asset disposals and other activities

(b) In all periods, primarily comprised of bank fees and gains/losses on economic commodity hedges

(c) Stock based compensation expense related to grants of stock options, restricted shares and restricted share units

Note: Other (income)/expense, net is comprised of gains (losses) from economic hedges (reclassified from Kraft’s historical Cost of Sales and Selling, General & Administrative Expense for purposes of conforming with Heinz’s presentation), and certain other gains (charges) (reclassified from Kraft’s historical Interest and Other Expense, Net for purposes of conforming with Heinz’s presentation).