Lifeway Foods Responds To Letter From Danone North America PBC Reaffirming Rejection Of Unsolicited Takeover Offer; Also Announces Unaudited Preliminary Q4 Net Sales Between $45.1M-$46.6M; FY24 Preliminary Unaudited Net Sales Are Projected To Range Between $185M-$186.5M Compared To $160.1M In 2023

• Company also announces unaudited preliminary fourth quarter net sales between $45.1 million to $46.6 million
• Full year 2024 preliminary unaudited net sales are projected to range between $185.0 million and $186.5 million compared to $160.1 million in 2023

MORTON GROVE, Ill., Jan. 6, 2025 /PRNewswire/ -- Lifeway Foods, Inc. (NASDAQ:LWAY) ("Lifeway" or the "Company"), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that its Board of Directors (the "Board") has responded to the December 30, 2024 letter sent to Lifeway by Danone North America PBC ("Danone") reaffirming that the Company rejected Danone's offer to acquire the Company because it severely undervalues the Company, based on analysis by the Company's independent financial and legal advisors. The Board reiterated that it is not opposed to a sale at a price that more accurately reflects the true value of the Company.