Laird Superfood amends Preferred conversion price; two directors resign as Nexus deal progresses

On January 30, 2026, the parties entered into Amendment No. 1 to the Investment Agreement (the “ Amendment ”), which amended the form of Certificate of Designation for the Preferred Stock (the “ Certificate of Designation ”) to provide that, in accordance with the NYSE American voting rights rules, the conversion price for the Additional Shares will be the “Minimum Price” as defined in the applicable NYSE American rules (as such rules may be amended from time to time) measured at the time of delivery of the Additional Shares Purchase Notice (as defined in the Investment Agreement) under the Investment Agreement related to the issuance of such Additional Shares and solely to the extent that such “Minimum Price” exceeds the conversion price (as adjusted in accordance with the Certificate of Designation).