Laird Superfood (LSF) investor relations material

Executive summary

• The proxy filing seeks shareholder approval for the acquisition of Navitas LLC and Global Superfoods Corp. for $38.5 million in cash, funded by a $50 million private placement of Series A Preferred Stock to affiliates of Nexus Capital Management LP, with an option for up to $60 million in additional preferred shares for future strategic transactions.

• The Series A Preferred Stock is convertible into common stock at $3.57 per share, carries a 5% cumulative dividend, and grants Nexus significant voting rights and board representation, potentially resulting in Nexus holding up to 74.2% of the company’s common stock on a fully converted basis.

• The board unanimously recommends voting in favor of the stock issuance, executive compensation, and adjournment proposals, citing strategic growth, operational synergies, and enhanced market position as key benefits.

Voting matters and shareholder proposals

• Shareholders are asked to approve: (1) the issuance of up to 110,000 shares of Series A Preferred Stock and underlying common shares to Nexus, (2) a non-binding advisory vote on executive compensation related to the transaction, and (3) the right to adjourn the meeting if necessary to solicit more votes.

• Voting agreements are in place with certain shareholders, directors, and officers representing 19.7% of outstanding shares, committing them to support the proposals.

Board of directors and corporate governance

• Upon closing, Nexus will appoint four directors to the board, with a fifth Nexus designee remaining, and the board will be set at nine members, giving Nexus majority control.

• Nexus will have the right to remove its designees and certain consent rights over major corporate actions, including anti-takeover measures and future preferred stock issuances.

• The company will qualify as a “controlled company” under NYSE American rules and may rely on certain governance exemptions.