On July 22, 2022, Sanderson Farms, Inc. (the ‘Company'), completed the transactions contemplated by the Agreement and Plan of Merger (the ‘Merger Agreement'), with Walnut Sycamore Holdings LLC (‘Parent'), Sycamore Merger Sub LLC, an indirect wholly owned subsidiary of Parent (‘Merger Sub'), and solely for purposes of certain provisions specified therein, Wayne Farms LLC (‘Wayne Farms'). Upon the effective time of the Merger (the ‘Effective Time'), Merger Sub merged with and into the Company (the ‘Merger'), with the Company continuing as the surviving corporation and as an indirect wholly owned subsidiary of Parent. Parent is a joint venture formed between Continental Grain Company and Cargill, Incorporated.

In accordance with the terms of the Merger Agreement, at the Effective Time, each of Lampkin Butts, Mike Cockrell, Gail Jones Pittman, Phil K. Livingston, Joe F. Sanderson, Jr., Beverly Wade Hogan, Toni D. Cooley, Fred Banks Jr., John Bierbusse, Suzanne T. Mestayer, Edith Kelly-Green, David Barksdale and Sonia A. Perez ceased to serve as directors of the Company. Effective as of the Effective Time, in accordance with the Merger Agreement, Jon Nash, Patrick Locken and Ari Gendason, who were appointed by the managing member of Merger Sub immediately prior to the Effective Time became directors of the Company.