On March 26, 2024, The Hershey Company announced that it has received a shareholder proposal from American Baptist Home Mission Society request that the Board to commission a third-party assessment that produces recommendations for achieving a living income for cocoa farmers in Hershey?s West African supply chain, beyond legal and regulatory matters. Input from stakeholders, including civil society organizations, cocoa farmers, and suppliers, should be considered in the assessment. A report on the audit, prepared at reasonable cost and omitting confidential/proprietary information, should be published on the company?s website within a reasonable time.

In addition, the Company urged the shareholders to vote against the proposal at its annual general meeting of shareholders scheduled to be held on May 6, 2024.