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Smithfield Foods Announces Launch of Secondary Offering of Common Stock

1. SFD announced a secondary public offering of 16 million shares. 2. Selling shareholder SFDS UK Holdings Limited will benefit, SFD will not receive proceeds. 3. Underwriters can purchase an additional 2.4 million shares within 30 days. 4. Morgan Stanley, BofA, and Barclays are leading the offering. 5. The offering is pending SEC registration and won't impact SFD's immediate liquidity.

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FAQ

Why Bearish?

Secondary offerings often dilute existing shares, potentially lowering stock prices. A historical example includes companies like Tesla, which faced price drops post-offering.

How important is it?

The announcement of secondary offerings typically impacts stock perception and liquidity. Investors might view it as negative due to potential dilution.

Why Short Term?

Immediate market reactions to secondary offerings are usually negative, as seen in past offerings.

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SMITHFIELD, Va., Sept. 03, 2025 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (Nasdaq: SFD) (the “Company”), an American food company and an industry leader in value-added packaged meats and fresh pork, today announced the launch of a secondary public offering of 16,000,000 shares of common stock of the Company to be sold by SFDS UK Holdings Limited, the principal shareholder of the Company. In addition, the selling shareholder intends to grant the underwriters a 30-day option to purchase up to 2,400,000 additional shares of the Company’s common stock at the public offering price, less underwriting discounts and commissions. The Company is not selling any shares of common stock in the offering and will not receive any proceeds from the sale of the shares by the selling shareholder, including from any exercise by the underwriters of their option to purchase additional shares. Morgan Stanley, BofA Securities and Barclays are acting as joint lead book-running managers for the proposed offering. The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to this offering, when available, may be obtained for free by visiting EDGAR on the Securities and Exchange Commission (“SEC”) website at www.sec.gov. The preliminary prospectus relating to the proposed offering may also be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, by email at dg.prospectus_requests@bofa.com; and Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717. A registration statement, including a prospectus, relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would not be permitted. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding the proposed offering, are forward- looking statements. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,” “intends,” “projects,” “contemplates,” “believes,” or “estimates” or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, the results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. We undertake no duty to update any statement made in this press release in light of new information or future events. The forward-looking statements contained in this press release are subject to substantial risks and uncertainties that could affect our current expectations and our actual results. A detailed discussion of these uncertainties and risks that affect our business is contained in our SEC filings, including our reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.” About Smithfield FoodsSmithfield Foods, Inc. (Nasdaq: SFD) is an American food company with a leading position in packaged meats and fresh pork products. With a diverse brand portfolio and strong relationships with U.S. farmers and customers, we responsibly meet demand for quality protein around the world. Investor Contact:Julie MacMedanEmail: ir@smithfield.com Media Contact: Ray Atkinson Email: ratkinson@smithfield.com Cell: 757.576.1383

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