Company: LW
Filing Date: 2025-08-07
Form Type: DEFA14A
Source: 0001679273-25-000062
Chunk: 1

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-08-07
Form: DEFA14A
Chunk 1
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 efforts, we are executing on a new customer-centric strategy, “Focus to Win,” which is centered around four key pillars:

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#### Focusing where we can differentiate and lead.
We are accelerating our investments in the channels, regions, and product categories that offer the most attractive profit opportunities – allocating resources where we hold a competitive edge while assessing non-strategic assets.

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#### Strengthening customer partnerships.
We see an opportunity to replicate the successful partnerships we’ve built with our largest customers as we expand our engagement with customers around the globe, enhancing our joint business planning activities and capabilities.

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#### Achieving executional excellence.
We are taking actions to simplify and standardize processes across our supply chain, driving overall equipment effectiveness, and instilling a zero-loss mindset in raw potato and materials usage.

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#### Setting the pace for innovation.
We are building on our strong track record of innovation by pursuing the development of breakthrough products to unlock new sources of value – including in non-traditional channels. Additionally, innovation hubs in North America and International will create a global network of insights and expertise focused on driving growth.

As we execute on these strategic priorities, we are also implementing cost savings actions to better align our business with the operating environment. We have identified at least $250 million dollars of annualized run rate savings, expected to be realized by the end of fiscal 2028. By meaningfully lowering our cost base, we will be better able to compete.

#### Looking Ahead
While we expect global demand to remain strong in the potato category, with customers and consumers prioritizing french fries as a menu and at-home item, we also anticipate continued challenges in fiscal 2026 due to macroeconomic uncertainty. I am confident in the long-term growth prospects of the global category and in our ability to successfully execute during this period with our strong team, bolstered by the actions we have taken in fiscal 2025. Guided by our values – integrity, teamwork, inclusion, drive for results, and empowerment – we’re focused on controlling what we can control and driving improvements, delivering best-in-class products and service to our customers, and creating significant value for team members, customers, and stockholders.

Thank you for being a Lamb Weston stockholder.

Sincerely,

Mike Smith

President and CEO

#### Forward-Looking Statements
This letter contains forward-looking statements within the meaning of the federal securities laws. Words such as “expect,” “believe,” “will,” “anticipate,” “remain,” “improve,” “drive,” “deliver