Prepared Statement to Monsanto Shareholders and the Board of Directors Given at the 2013 Annual Shareholder Meeting

Good Afternoon. I am here speaking on behalf of Harrington Investments, the Pesticide Action Network and my 75 shares . Our resolution for consideration by fellow shareholders addresses serious and potential risks associated with our Company’s genetically engineered crops, the toxic chemicals applied to these crops, and the related civil liability our Company may face due to their continued sales.

I realize our resolution is the same as last year and is unlikely to receive enough votes today to pass. So instead of speaking to the merits of the resolution or the Board’s prepared response, I am going to use my limited time to inform fellow shareholders that a massive tidal wave of consumer rejection of foods derived from our company’s patented technology has yet to crash down, but will soon.

What I am speaking of is a historic re-ordering of what crops farmers will be permitted to grow and the near-complete collapse of our customer base if we don’t change our business practices. Customers in our value chain are beginning to reject our patented technology due to the unsustainable consequences its use brings for human health and that of our soil and water.

First of all, why is our Company and it’s industry partners as a whole so vigorously hostile to new independent, peer-reviewed research? Last Fall, Dr. Seralini’s research clearly showed that rats fed this Company’s NK603 corn over their lifetime had serious health issues versus rats fed the control, a non-genetically engineered diet. We know the Company’s Technology Agreement does not permit farmers to give their seed away to scientists for research purposes. But in order for Monsanto to uphold its official pledge of “Transparency,” the Company’s patented technology must be scrutinized by scientists in every country in the world, without restrictions. The Company must embrace all research, in all its forms, to be truly transparent with current and future customers.

It is clear from the research of Dr. Seralini, that exposure to glyphosate and our Roundup Ready family of herbicides in only trace amounts of drinking water was linked to severe tumors in these rats over a lifetime of feeding. Moreover, our Company’s own rat feeding trials were woefully inadequate in measuring the long-term health risks of foods derived from our Company’s technology because our studies took place over only 90 days versus a rat’s entire lifetime as shown in Dr. Seralini’s study. To dismiss long-term animal feeding studies that were reviewed by the same scientific journal that years earlier did not reveal the long-term impacts of eating GMOs in Monsanto’s own studies is another example of this Company being two-faced and opaque. Customers, government regulators, and concerned scientists deserve nothing less than crystal-clear transparency from this Company. This starts by welcoming research by scientists who may be critical of our patented technology.

Secondly, last year I warned shareholders and the Board of Directors that the Company’s misguided hostility to safe food activists and farmers was fueling a consumer backlash. There was the Just Label It campaign, which last year sent over 1.1 million petition signatures to the FDA requesting labels for GMO foods. This effort led by Stoneyfield Organic CEO Gary Hirshberg, set the record for the most public comments on a petition to the FDA ever. And most recently social media campaigns have emerged, like the GMO Inside campaign, which urges grocery shoppers to label the suspected GMO foods and post the photos to Facebook and Twitter, as they have done by the thousands.

And then there was Proposition 37 in California. When I asked you Mr. Grant straightforwardly last year, “How much would this Company spend to defeat the California Right2Know Ballot initiative,” you refused to answer my question. Today fellow shareholders I am displeased to report our company wasted $8.2 million dollars to defeat transparency in food labels. Spending millions of dollars through lies and misinformation is not the way to stop the customer backlash towards GMOs. It’s only made it worse. Shareholders need to take this breech of trust very seriously.

While the proposition to label GMO foods in California failed to pass by a slim margin, people now say that if this Company was so proud of its patented technology, it would demand labels just as much as grocery shoppers do. This paradox exists because the Company is not being transparent with itself. This blatant denial of the wishes of customers in our value chain has the fuel to generate a wild fire of grassroots activism against this company. Customers recognize the lack of transparency in our food labels means there must be something to hide and they are wising up to the fact that its our patented technology that is being concealed.

For that matter why is this a closed-door meeting and no video feed made available to the hundreds of millions world-wide who eat our patented technology? Why must we meet in secret if the Company truly embraces transparency?

Since last year’s shareholder meeting we know more than 6 million Americans have voted & signed petitions demanding more transparency in food labels. This voting block is not going away because they vote three times a day- breakfast, lunch, and dinner. Throughout 2012 there were over 150 large-scale protests against this Company’s opaque & undemocratic control of global food policy. There were at least 50 protests at Monsanto facilities world-wide this past September 17 alone and just this last Tuesday there were thousands who took to the streets of Argentina protesting this company. Unless things begin to change and become more transparent, these protests will increase in size and number. Mr. Grant, the grassroots are Roundup resistant.

The way forward is by upholding the Company’s pledge to transparency. First, this means following the lead of other Fortune 500 companies like Apple, Coca-Cola, and Walmart and begin to stream over the Internet audio & video of all future shareholder meetings. Second, the Company should cease its efforts to stymie legislative solutions that provide increased transparency around GMO foods. States like Washington, Hawaii, Connecticut, Oregon, New Mexico, Vermont, and even here in Missouri have legislative solutions in the works. These efforts should be embraced by the Company, not fought off with lobbyists & lawyers. Third, the company needs to provide scientists access to the Company’s seeds & existing body of research. Let independent scientists provide the much-needed peer-reviewed studies, so the public at large believes this Company is being truly transparent.

A video published yesterday on the Wall Street Journal’s website, Mr. Grant said quote “we need to do much better job explaining where food comes from” We wholeheartedly agree. From independent scientific experimentation to honest food labels to streaming future shareholder meetings, this Company needs to look inward and become transparent.

Thank you for your time and I will answer questions shareholders may have.