Company: LW
Filing Date: 2025-08-07
Form Type: ARS
Source: 0001679273-25-000063
Chunk: 50

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-08-07
Form: ARS
Chunk 50
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aged Foods Index, which we consider to be our peer group, and the S&P 500 Packaged Foods Index for the five years ended May 25, 2025 (the last trading day of our fiscal year). The graph and table assume that $100 was invested in our common stock, the S&P 500 Index, the S&P 400 Packaged Foods Index, and the S&P 500 Packaged Foods Index on May 29, 2020, and that all dividends were reinvested. The cumulative total return shown below are based on the last trading day in Lamb Weston’s fiscal year. Comparison of Cumulative Total Return since May 29, 2020 Lamb Weston S&P 500 Index S&P 400 Packaged Foods Index S&P 500 Packaged Foods Index May 29, 2020 May 28, 2021 May 27, 2022 May 26, 2023 May 24, 2024 May 23, 2025 $80 $100 $120 $140 $160 $180 $200 $220 May 29, 2020 May 28, 2021 May 27, 2022 May 26, 2023 May 24, 2024 May 23, 2025 Lamb Weston . . . . . . . . . . . . . . . . . . $ 100 $ 139 $ 116 $ 190 $ 157 $ 91 S&P 500 Index . . . . . . . . . . . . . . . . . $ 100 $ 140 $ 141 $ 145 $ 185 $ 205 S&P 400 Packaged Foods Index . . . $ 100 $ 118 $ 113 $ 117 $ 126 $ 120 S&P 500 Packaged Foods Index . . . $ 100 $ 119 $ 124 $ 137 $ 124 $ 113 The above performance graph and other information furnished under this Part II, Item 5 of this Form 10-K shall not be deemed to be “soliciting material” or to be “filed” with the SEC or subject to Regulation 14A or 14C, or to the provisions of Section 18, of the Exchange Act. ITEM 6. RESERVED 26

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following management’s discussion and analysis of our results of operations and financial