Lifeway Foods, Inc. · NASDAQ:LWAY
Lifeway Foods — Shareholder Meeting (June 2026)
34 slides from Lifeway Foods's shareholder meeting presentation, Jun 18, 2026
Slide 1: Lifeway Foods, Inc. Annual Shareholders Meeting 2026
Lifeway Foods, Inc. ANNUAL SHAREHOLDERS MEETING 2026
Slide 2: Forward Looking Statements
Forward Looking Statements 2 This presentation contains “forward - looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives.
Slide 3: Lifeway Foods: Leader in Gut Health
Lifeway Foods: Leader in Gut Health 3 Lifeway’s Mission Statement About Us Sustainability This Family Business Begun in a Basement Has Gone Big Time Daughter Grows Family Business At Lifeway, we’re here to provide the best in nutritious, probiotic - rich foods that support health and well - being. W
Slide 4: Why Lifeway Kefir
Why Lifeway Kefir 4 9 Reasons to Drink Lifeway Kefir
Slide 5: Health benefits of kefir
He alth 5 The health benefits are so science - backed, they sound like magic “Kefir is a more powerful probiotic than yogurt” – Hea l th li n e “In general, Kefir is better for you than yogurt as it contains more strains of probiotics and beneficial yeast. – Cleveland Clinic “Protects consumers from ent
Slide 6: Lifeway is sold in every major grocery chain in the U.S.
Lifeway is sold in every major grocery chain in the U.S. 6
Slide 7: How will we continue household penetration and revenue growth?
How will we continue our incredible household penetration and revenue growth? PRICE 1. Offer exceptional value 2. Showcase cost per ounce advantage PRODUCT 1. Grow number of items on shelf 2. Innovation / expansion of existing items PROMOTIONS 1. More demos 2. More displays 3. Advertising and digita
Slide 8: Highlights of the Year: New Products & New Distribution
Highlights of the Year: New Products & New Distribution New Distribution 8
Slide 9: Strong household growth, repeat purchase and loyalty
1 Lifeway has strong household growth, repeat purchase and loyalty All Outlets Source: SPINS; 2019 - 2025 Source: TriLens Panel All Outlets L52wks & L12wks 5.17.26 4.4 5.1 6.3 2 024 2 025 2 026 $75 $92 $97 $118 $139 $169 $215 2 019 2 0 20 2021 2 0 22 2023 2 024 2 025 MULO Brand Lifeway (Kefir & FC)
Slide 10: US MULO: Lifeway is the #12 Yogurt brand
US MULO: Lifeway is the #12 Yogurt brand with selling only Drinks ACV Chg ACV Unit % Chg Dol % Chg Dol Dollar Ranking - 0.7 96 . 9 8 . 7 % 19 . 5% $1.3B 1. Chobani Flat 84 . 5 1 . 7 % 7 . 0% $586M 2. Private Label 2.6 89 . 6 4 . 3 % 18 . 6% $572M 3. Dannon Oikos 0.2 91 . 8 - 3 . 0 % - 3 . 2 % $415M
Slide 11: Lowfat Conventional 32oz among top product groups
US MULO: Lifeway Lowfat Conventional 32oz is one of the top product groups in dollars and units Adult Yogurt & Kefir Drinks - Dollar Ranking Product Groups Chobani Base 7oz $38M - 7% dol Chobani 30g 14oz 9.1M +141% units Chobani 10oz/4pk Yakult 5pk Activia 8pk Oikos 23g Pro 7oz Chob. 20g Pro 10oz Lf
Slide 12: GLP-1 and Lifeway Kefir's benefits to gut health
GLP - 1 and Lifeway Kefir’s benefits to gut health • Loss of Lean muscle mass • Gastrointestinal issues • Loss of key nutrients Side Effects of GLP - 1 medications: Probiotic P o w e r h o u s e Packed with Protein Excellent source of vitamin D Reduced I n f l a m m a t i o n 1 2 How can Lifeway Kef
Slide 13: 59% of Gen Z shoppers follow a high protein diet
1 59% of Gen Z shoppers report following a “high protein” diet Source: July 2025 SPINS survey of total U.S. Gen Z and Millennial shoppers aged 13 - 44 (n = 1000) “Do you follow an y o f the following dietary restriction s?” SPINS Satori Total US Natural Expanded & Mulo Conv (Powered by Circana) | YT
Slide 14: Lifeway Announces Muscle Mates functional beverage
Source: PR Newswire 09.08.2025 Lifeway Foods Announces Muscle Mates : A Breakthrough Functional Beverage with Creatine, Protein and Probiotics Disrupting the Fitness Nutrition Category MORTON GROVE, Ill., Sept. 8, 2025 /PRNewswire/ -- Lifeway Foods , Inc. (Nasdaq: LWAY ) ("Lifeway" or "the Company")
Slide 15: #1 Farmer Cheese within MULO
\ Lifewoy S e' #1 FARMER 8) CHEESE .- within MULO!
Slide 16: MULO: Lifeway is #1 in Farmer Cheese
MULO: Lifeway is #1 US MULO YTD 5.17.26 Ma x ACV Chg Ma x ACV Unit % Chg Un i ts (K) Dol % Chg Dol Farmer Cheese SKU 20pts 26.5 223% 555 247% $3.0M 1. Lifeway Conv 16oz Flat 8.6 - 2.5% 345 - 0.2% $1.2M 2. Friendship VacPk 7.5oz - 0.4% 3.4 5.1% 147 6.7% $513K 3. Friendship No Salt 7.5oz Flat 2.1 - 8.
Slide 17: Lifeway Farmer Cheese Converting Cottage Cheese Consumers
Lifeway Farmer Cheese Converting Cottage Cheese Consumers 1 7 • 12 live & active probiotic cultures • Dry Curd Cheese • 2% milk (Reduced Fat) • High Protein (15g) • Low Sodium (40mg)/No salt added • Total Carbs (4g) • Good source of Calcium
Slide 18: Lowfat Conventional 8oz growth in volume, penetration and repeat
1 Retailers who carry LF Conv 8oz & 32oz Middle Income Gen X A cc u l t ur ated Hispanic Lifeway Lowfat Conventional 8oz has grown in volume, penetration and repeat purchase US M ULO T otal Outlets R e p eat Purch Chg R e p e a t Purch Hhl d Pe n . Chg Hhl d Pe n . Unit % Chg Dol % Chg Flat 61. 7 %
Slide 19: On-Trend Flavors in Whole Milk Organic 8oz
Exciting, Buzzy, On - Trend Flavors in Whole Milk Organic 8oz Who is the consumer? Lower Income Gen Z Upper Income Whole Milk Organic Lactose - Free 8oz Flavor Fusions Bringing excitement to the category! Source: Flavor & The Menu “Gen Z: Ready for the World” 12.22; Food & Beverage Insider “Keys to
Slide 20: Starting Healthy Habits Early with ProBugs
Starting Healthy Habits Early with ProBugs Lifeway Whole Milk Conventional ProBugs Lifeway® Foods Expands Beloved ProBugs® Kefir Line with New Conventional Whole Milk Pouches in Three Fun Flavors 2 0 Putting ProBugs in lunchboxes across America New equipment more than triples efficiency, reduces lab
Slide 21: Marketing That Drives Results
Marketing That Drives Results Med i a S o c i a ls Bethany Frankel 5.7k c o mm u n ity - created posts Jan – June 2026 125.7 million impressions across social platforms, including both organic impressions and ads Jan – June 2026 High - quality media placements with Lifeway brand mentions generated ~
Slide 22: Influencer Marketing
Influencer Marketing Making Lifeway Kefir a staple for on - the - go and in every kitchen 22
Slide 23: Influencer Marketing: Farmer Cheese
Influencer Marketing Introducing Lifeway Farmer Cheese as a cottage cheese upgrade 53.5k Likes 40.4k Comments 55k Likes 184 Comments 29.1k Likes 280 Comments 77.5k Likes 1.5k Comments 51.2k Likes 1.4k Comments 23
Slide 24: Public Relations
2 4 Public Relations In 2026, Lifeway has received 117 media placements to - date in target outlets resulting in a potential audience reach of more than 1.4 billion in top wellness, business, lifestyle and trade outlets.* 24 *Data as of June 12, 2026
Slide 25: Lifeway Awards and Achievements
Lifeway Awards and Achievements 25
Slide 26: Highlights of the Year: Brand Collaboration and Pop Culture
Highlights of the Year: Brand Collaboration and Pop Culture B r and 26
Slide 27: Highlights of the Year: National Kefir Day
Highlights of the Year: National Kefir Day and 40 th Year Celebration National Kefir Day celebrations in • New York • Miami • Chicago • Los Angeles SoHo pop - up to feature gold medal winner and Gotham FC soccer star Rose Lavelle as Lifeway smoothie bartender, music from AMRIT, and a live performanc
Slide 28: Highlights of the Year: Lifeway Big Game Spot
Highlights of the Year: Lifeway Spot Featuring Colston Loveland and D’Andre Swift Big Game excitement expanding our demographic reach 30 - second spot with Chicago Bears superstars Over 10 million views on social platforms since February 28
Slide 29: Lifeway Marketing and Events
Lifeway Marketing and Events Total YTD Donations: 162,000 Lifeway Servings 8 0 0+ EVENTS! 2 9
Slide 30: High Profile Event Partnerships
3 0 High Profile Event Partnerships 3 0
Slide 31: 2026 Lifeway Event Calendar
2026 LIFEWAY EVENT CALENDAR FEBRUARY@| Marcu @® APRIL 8 may @ oil El iz + SUPERBOML. + 470-12 COACHELLA. -Menoraoaysimer | Net TYE Fashion week THG7LAMARATHIONExO | "Medel Voueyba® programs lek “epposummersostce Sr S/S6EXPO WEST Ene twouioresve: | see ‘Mian Open MIAMI sim wel | su | avcusr @| seprem
Slide 32: Investing in our future
3 2 Investing in our future 3 2 Expand Away from Home and brand ubiquity through Foodservice, Convenience, Club and Drug channel distribution expansion 2. Accelerate marketing strategy to drive consumption & grow penetration 1. Execute innovation effectively in all channels (Muscle Mates, Organic Fa
Slide 33: Revenue: Lifeway 2.0
R even u e LIFEWAY 2.0 $212. 5 $200.0 $186. 8 $180.0 $160. 1 $160.0 $141.6 $140.0 $119.1 $120.0 $102.0 $100.0 $ 2 2 0 . 0 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 CAGR 15.8% 33
Slide 34: Financial Highlights
x Continued investment supporting brand awareness and revenue growth 34 x Focused on expense management and operating expense leverage x Strong Balance Sheet - No outstanding debt at 12/31/2025. * Adjusted for the strategic exit of a customer in Q3 24 and a significant distributor shifting from LWAY