EDWARD SMOLYANSKY, KEY LWAY SHAREHOLDER: TERMINATION OF POISON PILL MARKS IMPORTANT INFLECTION POINT FOR LIFEWAY SHAREHOLDERS AS GOVERNANCE QUESTIONS MOUNT AHEAD OF THE ELECTION

Edward Smolyansky, largest shareholder and former COO of Lifeway Foods, criticizes the Board's governance, stating the poison pill was only terminated after ISS recommended voting against all directors. He highlights a pattern of reactive governance, the reversal of a board refresh process, and calls for shareholders to vote against incumbent directors at the June 17 Annual Meeting to register dissatisfaction with the Board's conduct.