Company: LW
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001679273-25-000060
Chunk: 47

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 47
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 2024.

This CD&A is organized into the following sections:

| Overview                                     |     | •Fiscal 2025 Business Highlights                                      
 •Fiscal 2025 Compensation Highlights                                  
 •Our Executive Compensation Program, Philosophies and Objectives      
 •Our Executive Compensation Policies and Practices                    
 •2024 Say-on-Pay Vote and Stockholder Engagement                      |
| What We Pay and Why                          |     | •Fiscal 2025 Executive Compensation                                   
 •Alignment of Executive Compensation Program with Performance         
 •Base Salary                                                          
 •Annual Cash Incentive Compensation (Annual Incentive Plan)           
 •Long-Term Incentive Compensation (LTIP)                              
 •Fiscal 2025 Executive Transitions                                    
 •Other Elements of Our Fiscal 2025 Executive Compensation Program     |
| How We Make Executive Compensation Decisions |     | •Role of the Board, Compensation Committee and Our Executive Officers 
 •Guidance from Independent Compensation Consultant                    
 •Inputs to Setting Compensation Opportunity                           |

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TABLE OF CONTENTS

### Overview
Lamb Weston is a leading global producer, distributor and marketer of value-added frozen potato products. We offer a broad product portfolio to a diverse channel and customer base in over 100 countries. We are a leading global supplier of value-added frozen potato products, with a strong presence in North American and international markets across chain, small, regional and retail customers.

### Fiscal 2025 Business Highlights
The following describes our fiscal 2025 performance, as compared to fiscal 2024.

Significant inflationary pressure persisted in fiscal 2025, which contributed to consumer uncertainty and lower overall restaurant traffic and frozen potato demand. We increased price investments to compete in the highly competitive environment where industry supply exceeds demand. Half-way through the year, we made important changes to adapt to the evolving environment and put our business on a path back to growth. We announced a restructuring, including the permanent closure of one of our manufacturing facilities and temporarily curtailing certain production lines across our manufacturing network in North America, and other operating and capital expense reductions.

• Net sales decreased 0.3%, or $16.3 million, to $6,451 million. The decline related to a 2 percent decrease in price/mix that reflected the impact of supporting customers with price and trade in a competitive environment globally. The decrease in price/mix was mostly offset by a 2 percent increase in volume, primarily in our International segment and included fully replacing the combined regional, small, and retail customer