On March 25, 2024, the Board of Directors of Hormel Foods Corporation, upon recommendation of the Governance Committee, accepted the resignation of Mr. Jose Luis Prado as a member of the Board, effective immediately. Mr. Prado tendered his resignation in accordance with the Company?s Corporate Governance Guidelines in connection with his acceptance of a new full-time professional opportunity. Mr. Prado?s resignation is not the result of any disagreement with the Company.

Following Mr. Prado?s departure from the Board, the size of the Board has been reduced to ten directors.