Lamb Weston (LW) Proxy filing summary

Executive summary

• Fiscal 2026 was a period of stabilization, with refreshed leadership, new executive appointments, and a reduced board size to enhance agility and governance.

• The board and management advanced the Focus to Win strategy, emphasizing customer-centricity, operational improvement, and long-term value creation.

• Active stakeholder engagement and alignment of compensation with shareholder interests were prioritized.

Voting matters and shareholder proposals

• Shareholders will vote on the election of 11 director nominees, an advisory say-on-pay vote, approval of the 2026 Equity and Incentive Compensation Plan, and ratification of KPMG LLP as independent auditors for fiscal 2027.

• Shareholders of record as of July 24, 2026, are entitled to vote at the annual meeting on September 16, 2026.

• Proxy access and advance notice procedures are available for shareholder nominations and proposals for the 2027 annual meeting.

Board of directors and corporate governance

• Seven new directors, including an Executive Chair and independent Lead Director, joined since July 2025, bringing diverse expertise.

• All directors stand for annual election; majority are independent, and board committees are fully independent.

• Board and committee evaluations are conducted annually, with third-party facilitation in 2026.

• Stock ownership guidelines require directors to hold shares equal to five times the annual retainer; executive officers have similar requirements.

• Anti-hedging and anti-pledging policies are in place for directors and executives.