Item 8.01. Other Matters

On September 14, 2022, Lee Enterprises, Incorporated (the "Company"), as sponsor of the Lee Enterprises Incorporated Pension Plan (the "Plan") entered into an agreement pursuant to which the Plan will use a portion of its assets to purchase annuities from an insurance company (the "Insurer") and thereby transfer approximately $86 million of the Plan's liabilities. This agreement will irrevocably transfer to the Insurer future Plan benefit obligations for certain retirees and beneficiaries support, including distribution of payments to the Participants. Participants' benefits are not being reduced as a result of this transaction.

Forward Looking Statements

Certain statements in this Current Report on Form 8-K are or may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing and scope of the transaction and other statements identified by words such as "will," "may," and similar expressions. These statements are based on management's current views and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially from those expressed or implied in this Current Report on Form 8-K include, but are not limited to, those that can be found in the Company's filings with the Securities and Exchange Commission. There is no guarantee that any of the events anticipated by the Company's forward-looking statements will occur. Except to the extent required by law, the Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

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