JANA Partners (“JANA”), which together with its strategic and operating partners owns more than 5% of Lamb Weston Holdings, Inc. (NYSE: LW) (“Lamb Weston” or the “Company”) and is one of the Company’s largest shareholders, today issued the following statement:

“Today’s disastrous financial results and decision to swap its CEO for another long-standing Lamb Weston executive complicit in its widespread operational and strategic debacles is just the latest stick in the eye from a Board that has completely failed shareholders. Enough is enough: Lamb Weston requires significant board change or, in its absence, should be sold.”

About JANA Partners

JANA Partners was founded in 2001 by Barry Rosenstein. JANA invests in undervalued public companies and engages with management teams and boards to unlock value for shareholders.

Media Jonathan Gasthalter/Nathaniel Garnick JANA@gasthalter.com

Investors IR@janapartners.com

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