Second Quarter Fiscal 2025 Highlights Updated Fiscal 2025 Outlook Lamb Weston Holdings, Inc. LW announced today its results for the second quarter of fiscal 2025 and updated its full year financial targets for fiscal 2025. "Our financial results in the second quarter were below our expectations," said Tom Werner, President and CEO. "Higher-than-expected manufacturing costs and softer volumes accounted for the shortfall, while price/mix and operating expenses were broadly in line with our targets for the quarter." "In terms of the broader operating environment, we expect challenging conditions to persist through the remainder of fiscal 2025 and into fiscal 2026, driven primarily by an accelerating rate of capacity additions and continued near-term softening of global frozen potato demand below historical rates, particularly outside North America, until demand trends improve and capacity expansion normalizes. As a result, we are reducing our fiscal 2025 financial targets."