LIFEWAY FOODS CONFIRMS RECEIPT OF REVISED, UNSOLICITED, NON-BINDING PROPOSAL FROM DANONE

Core Viewpoint - Lifeway Foods, Inc. has received a revised unsolicited proposal from Danone North America PBC to acquire all outstanding shares of Lifeway it does not already own for $27.00 per share in cash, following the rejection of an initial proposal of$25.00 per share due to undervaluation concerns [1][2]. Group 1: Proposal Details - Danone currently owns approximately 23.3% of Lifeway's outstanding common stock [1]. - The initial proposal of $25.00 per share was rejected by Lifeway's Board of Directors as it was deemed to substantially undervalue the company [2]. - The revised proposal of$27.00 per share is under careful review by Lifeway's Board, in consultation with independent advisors, to determine the best course of action [3]. Group 2: Shareholder Actions - Lifeway shareholders are advised that no action is required at this time regarding the proposals [4]. Group 3: Company Overview - Lifeway Foods, Inc. is recognized as a leading supplier of kefir and fermented probiotic products in the U.S., with a product range that includes drinkable kefir and various cheeses [5]. - The company's products are distributed across multiple countries, including the U.S., Mexico, Ireland, South Africa, UAE, and France [5].