Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Quantitative and Qualitative Disclosures About Market Risk.

The

estimated

maximum

potential

value-at-risk

arising

from

a

one-day

loss

in

fair

value

for

our

interest

rate,

foreign

exchange,

commodity, and equity

market-risk-sensitive instruments outstanding as of February 26, 2023,

was as follows:

In Millions

One-day Risk

of Loss

Change During

Nine-Month

Period Ended

Feb. 26, 2023

Analysis of Change

Interest rate instruments

$

$

Rising interest rates

Foreign currency instruments

Increase in portfolio basis

Commodity instruments

(4)

Decrease in commodity prices

Equity instruments

Immaterial

For additional information, see Item 7A of Part II of our Annual Report on Form 10-K

for the fiscal year ended May 29, 2022.