LWAY · Lifeway Foods, Inc.

Held by the Ludmila Smolyansky Trust 2/1/05, of which Ludmila Smolyansky is the trustee.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $29.28 and $30.27, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Held by the Ludmila Smolyansky Trust 2/1/05, of which Ludmila Smolyansky is the trustee.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $32.10 and $33.09, inclusive.

Beneficially held by the Edward Smolyansky Trust 2/2/16, of which the reporting person is the trustee.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $31.10 and $32.09, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) and in footnote (3).

Beneficially held by the Edward Smolyansky Trust 2/2/16, of which the reporting person is the trustee.

The reporting person disclaims beneficial ownership of the shares owned by his son.

Beneficially held by the Trust.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $29.30 and $30.29, inclusive.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $29.75 and $30.74, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) and in footnote (3).

Beneficially held by the Trust.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $29.30 and $30.29, inclusive.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The remaining RSUs will vest on July 1, 2027, contingent on the Reporting Person's continued service as a Director on such vesting date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The RSUs vest on July 1, 2027 contingent on the Reporting Person's continued service as a Director on such vesting date.

Each share of phantom stock represents a right to receive one share of common stock. The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.

In connection with the vesting on July 1, 2026 of RSUs previously granted to the Reporting Person, the Reporting Person's receipt of 1,356 shares of common stock was deferred resulting in the Reporting Person's receipt instead of 1,356 shares of phantom stock pursuant to the Director Plan. The Reporting Person is therefore reporting the disposition of 1,356 RSUs in exchange for an equal number of shares of phantom stock.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The remaining RSUs will vest on July 1, 2027, contingent on the Reporting Person's continued service as a Director on such vesting date.

Each share of phantom stock represents a right to receive one share of common stock. The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.

In connection with the vesting on July 1, 2026 of RSUs previously granted to the Reporting Person, the Reporting Person's receipt of 1,356 shares of common stock was deferred resulting in the Reporting Person's receipt instead of 1,356 shares of phantom stock pursuant to the Director Plan. The Reporting Person is therefore reporting the disposition of 1,356 RSUs in exchange for an equal number of shares of phantom stock.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The RSUs vest on July 1, 2027 contingent on the Reporting Person's continued service as a Director on each applicable vesting date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The RSUs vest on July 1, 2027 contingent on the Reporting Person's continued service as a Director on such vesting date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The RSUs vest on July 1, 2027 contingent on the Reporting Person's continued service as a Director on such vesting date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The RSUs vest on July 1, 2027 contingent on the Reporting Person's continued service as a Director on such vesting date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The RSUs vest on July 1, 2027 contingent on the Reporting Person's continued service as a Director on such vesting date.

The remaining RSUs will vest on August 31, 2026, contingent on the Reporting Person's continued service as a Director on such vesting date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The RSUs vest on July 1, 2027 contingent on the Reporting Person's continued service as a Director on such vesting date.

Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock.

The remaining RSUs will vest on July 1, 2027, contingent on the Reporting Person's continued service as a Director on such vesting date.

Each share of phantom stock represents a right to receive one share of common stock. The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.

The acquired shares of phantom stock were acquired upon deferral of the Reporting Person's cash compensation for service on the Board of Directors in the quarter ended June 30, 2026 pursuant to the Company's Non-Employee Director Equity and Deferred Compensation Plan.

Each share of phantom stock represents a right to receive one share of common stock. The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.

The acquired shares of phantom stock were acquired upon deferral of the Reporting Person's cash compensation for service on the Board of Directors in the quarter ended June 30, 2026 pursuant to the Company's Non-Employee Director Equity and Deferred Compensation Plan (the "Director Plan").

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $29.28 and $30.27, inclusive.

Each share of phantom stock represents a right to receive one share of common stock. The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.

The acquired shares of phantom stock were acquired upon deferral of the Reporting Person's cash compensation for service on the Board of Directors in the quarter ended June 30, 2026 pursuant to the Company's Non-Employee Director Equity and Deferred Compensation Plan.

Each share of phantom stock represents a right to receive one share of common stock. The phantom stock becomes payable on the date that the Reporting Person no longer serves as a director of the Company.

The acquired shares of phantom stock were acquired upon deferral of the Reporting Person's cash compensation for service on the Board of Directors in the quarter ended June 30, 2026 pursuant to the Company's Non-Employee Director Equity and Deferred Compensation Plan (the "Director Plan").

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $30.00 and $30.99, inclusive.

Beneficially held by the Edward Smolyansky Trust 2/2/16, of which the reporting person is the trustee.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $29.51 and $30.50, inclusive.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $28.50 and $29.49, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) and in footnotes (2), (3) and (5).

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $29.16 and $30.15, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Held by the Ludmila Smolyansky Trust 2/1/05, of which Ludmila Smolyansky is the trustee.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $29.26 and $30.25, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) and in footnote (2).

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $30.25 and $31.24, inclusive.

Held by the Ludmila Smolyansky Trust 2/1/05, of which Ludmila Smolyansky is the trustee.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging between $26.00 and $26.99, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Beneficially held by the Edward Smolyansky Trust 2/2/16, of which the reporting person is the trustee.

Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 486 vested on January 10, 2026 and the underlying shares of common stock were delivered on June 17, 2026. The remaining 484 restricted stock units will vest on January 10, 2027, contingent on the Reporting Person's spouse's continued service on each applicable vesting date.

Held by the Reporting Person's spouse.

Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 6,070 vested on January 10, 2026 and the underlying shares of common stock were delivered on June 17, 2026. The remaining 6,068 restricted stock units will vest on January 10, 2027, contingent on the Reporting Person's continued service on each applicable vesting date.

No stock was sold. Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person and her spouse.

Held by the Reporting Person's spouse.

Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 486 vested on January 10, 2026 and the underlying shares of common stock were delivered on June 17, 2026. The remaining 484 restricted stock units will vest on January 10, 2027, contingent on the Reporting Person's spouse's continued service on each applicable vesting date.

Held by the Reporting Person's spouse.

Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 3,397 vested on March 28, 2026 and the underlying shares of common stock were delivered on June 17, 2026. Of the remaining restricted stock units, 3,397 will vest on March 28, 2027 and 3,397 will vest on March 28, 2028, contingent on the Reporting Person's continued service on each applicable vesting date.

Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 6,070 vested on January 10, 2026 and the underlying shares of common stock were delivered on June 17, 2026. The remaining 6,068 restricted stock units will vest on January 10, 2027, contingent on the Reporting Person's continued service on each applicable vesting date.

Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 340 vested on March 28, 2026 and the underlying shares of common stock were delivered on June 17, 2026. Of the remaining restricted stock units, 340 will vest on March 28, 2027 and 339 will vest on March 28, 2028, contingent on the Reporting Person's spouse's continued service on each applicable vesting date.

Held by the Reporting Person's spouse.

Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 340 vested on March 28, 2026 and the underlying shares of common stock were delivered on June 17, 2026. Of the remaining restricted stock units, 340 will vest on March 28, 2027 and 339 will vest on March 28, 2028, contingent on the Reporting Person's spouse's continued service on each applicable vesting date.

Held by the Reporting Person's spouse.

Each restricted stock unit has a value equal to one share of common stock. Of such restricted stock units, 3,397 vested on March 28, 2026 and the underlying shares of common stock were delivered on June 17, 2026. Of the remaining restricted stock units, 3,397 will vest on March 28, 2027 and 3,397 will vest on March 28, 2028, contingent on the Reporting Person's continued service on each applicable vesting date.

No stock was sold. Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person and her spouse.

Each restricted stock unit has a value equal to one share of common stock. The restricted stock units vested on June 16, 2026.

Each restricted stock unit has a value equal to one share of common stock. The restricted stock units vested on June 16, 2026.

Each restricted stock unit has a value equal to one share of common stock. The restricted stock units vested on June 16, 2026.

No stock was sold. Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person and her spouse.

Each such Performance share unit has a value equal to one share of common stock. The performance share units vested on March 6, 2026. The underlying shares of common stock were delivered on June 16, 2026.

No stock was sold. Such shares were surrendered to the issuer in connection with tax withholding obligations of the Reporting Person.

Each restricted stock unit has a value equal to one share of common stock. The restricted stock units vested on June 16, 2026.

Each such Performance share unit has a value equal to one share of common stock. The performance share units vested on March 6, 2026. The underlying shares of common stock were delivered on June 16, 2026.