Jana Partners Calls on Freshpet Board to Immediately Rectify Highly Entrenching Actions Intended to Disenfranchise Shareholders and Manipulate Shareholder Vote

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May 25, 2023

JANA Partners (“JANA”), which along with its affiliates and partners, owns 9.3% of Freshpet, Inc. (“Freshpet” or the “Company”) (NASDAQ:FRPT), today delivered the following letter to the legal counsel of the Freshpet Board of Directors (the “Board”) regarding recent changes to the size and composition of the Board. By adopting such changes, which JANA believes are a desperate attempt to entrench Freshpet’s incumbent directors and impede the free exercise of the shareholder franchise at the Company’s 2023 Annual Meeting of Stockholders (the “Annual Meeting”), the Board has breached its fiduciary duties.