Local Bounti Corporation/DE — fact timeline

Mark Nelson was appointed as Lead Independent Director at Local Bounti Corporation/DE.

“Mark Nelson as Lead Independent Director”

Travis Joyner was appointed as Chairman of the Board at Local Bounti Corporation/DE.

“the Board has appointed Travis Joyner as Chairman of the Board”

Matthew Nordby resigned as Director at Local Bounti Corporation/DE.

“Matthew Nordby announced his intention to resign as a member of the Board, effective June 18, 2026.”

Craig Hurlbert resigned as Executive Chairman at Local Bounti Corporation/DE.

“Craig Hurlbert announced his intention to resign as Executive Chairman and as a member of the Board of Directors (the “Board”) of Local Bounti Corporation (the “Company”), effective as of June 18, 2026.”

Local Bounti Corporation/DE shareholders approved Approval of adjournment of the Annual Meeting, if necessary, to solicit additional proxies at the 2026-06-10 meeting.

“Stockholders approved the adjournment of the Annual Meeting, if deemed necessary or appropriate, to solicit additional proxies if there are not sufficient votes in favor of any of the foregoing proposals, based on the following votes: For 19,603,312 Against 264,120 Abstain 45,136 Broker Non-Votes 0”

Local Bounti Corporation/DE shareholders approved Approval of issuance of shares upon conversion of convertible note and issuance of shares underlying warrant to U.S. Bounti, LLC at the 2026-06-10 meeting.

“Stockholders approved, for purposes of complying with the rules of the New York Stock Exchange, (i) the issuance of up to 7,882,861 shares of Common Stock upon the conversion of the convertible note issued to U.S. Bounti, LLC (“U.S. Bounti”) pursuant to the Convertible Note and Warrant Purchase Agreement, dated as of March 13, 2026, between the Company and U.S. Bounti (the “Purchase Agreement”), and (ii) the issuance of up to 5,500,000 shares of Common Stock underlying the common stock purchase warrant issued to U.S. Bounti pursuant to the Purchase Agreement, based on the following votes: For 17,438,100 Against 31,910 Abstain 2,018 Broker Non-Votes 2,440,540”

Local Bounti Corporation/DE shareholders approved Ratification of appointment of WithumSmith+Brown, PC as independent registered public accounting firm for the year ending December 31, 2026 at the 2026-06-10 meeting.

“Stockholders ratified the appointment of WithumSmith+Brown, PC as our independent registered public accounting firm for the year ending December 31, 2026, based on the following votes: For 19,563,968 Against 303,008 Abstain 45,592 Broker Non-Votes 0”

Local Bounti Corporation/DE shareholders approved Election of two Class II directors to serve for three years and until their successors are elected and qualified or until their earlier resignation or removal at the 2026-06-10 meeting.

“Stockholders elected two Class II directors to our Board to serve for three years and until their successors are elected and qualified or until their earlier resignation or removal, based on the following votes: Nominee Mark J. Nelson Charles R. Schwab, Jr. For 17,364,520 17,459,161 Withheld 107,508 12,867 Broker Non-Votes 2,440,540 2,440,540”

Dane Almassy was terminated as Chief Commercial Officer at Local Bounti Corporation/DE.

“On May 14, 2026, Local Bounti Corporation (the “Company”) notified Dane Almassy, the Company’s Chief Commercial Officer, that his employment with the Company ended effective May 14, 2026 (the “Separation Date”).”

Local Bounti Corporation/DE reported the three months ended March 31, 2026 results: revenue $11.6 million, net income $37.7 million.

“great position to capture demand for efficient capacity as the industry continues its migration to CEA products.” First Quarter 2026 Financial Summary • Sales increased 15% to $13.3 million in the first quarter of 2026, as compared to $11.6 million in the prior year period. The increase was due to increased production and growth in sales from the facilities in”

Local Bounti Corporation/DE reported the twelve months ended December 31, 2025 results: revenue $48.4 million, net income $94.4 million.

“Sales increased 27% to $48.4 million in 2025, as compared to $38.1 million in 2024.”

Local Bounti Corporation/DE reported the three months ended December 31, 2025 results: revenue $12.5 million, net income $8.7 million.

“Sales increased 24% to $12.5 million in the fourth quarter of 2025, as compared to $10.1 million in the prior year period.”

Local Bounti Corporation/DE issued 5,500,000 shares of common stock of warrant to U.S. Bounti, LLC for $0.125 per share exercise price.

“The Warrant is exercisable immediately at an exercise price of $0.125 per share of Common Stock and will expire 10 years from the initial exercise date.”

Local Bounti Corporation/DE issued 6,000,000 shares of common stock (if converted) of convertible note to U.S. Bounti, LLC for $15.0 million principal note with 7.0% PIK interest.

“On March 13, 2026, Local Bounti Corporation, a Delaware corporation (the “Company”), entered into a Convertible Note and Warrant Purchase Agreement (the “Purchase Agreement”) with U.S. Bounti, LLC (the “Purchaser”), providing for the purchase, sale and issuance of (i) a convertible note with an initial principal balance of $15.0 million (the “Note”) and (ii) a common stock purchase warrant (the “Warrant”) pursuant to which the Purchaser has the right to purchase and acquire 5,500,000 shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”).”

Local Bounti Corporation/DE amended credit facility with Cargill Financial Services International, Inc..

“Also on March 13, 2026, the Company entered into a letter agreement (the “Letter Agreement”) with Cargill Financial Services International, Inc., a Delaware corporation (“Cargill Financial”), to supplement certain terms of the Credit Agreement dated as of September 3, 2021”

Local Bounti Corporation/DE incurred convertible notes of $15.0 million with U.S. Bounti, LLC at 7.0% per year.

“On March 13, 2026, Local Bounti Corporation, a Delaware corporation (the “Company”), entered into a Convertible Note and Warrant Purchase Agreement (the “Purchase Agreement”) with U.S. Bounti, LLC (the “Purchaser”), providing for the purchase, sale and issuance of (i) a convertible note with an initial principal balance of $15.0 million (the “Note”)”

Local Bounti Corporation/DE amended Letter Agreement with Cargill Financial Services International, Inc. (effective 2026-03-13).

“Also on March 13, 2026, the Company entered into a letter agreement (the “Letter Agreement”) with Cargill Financial Services International, Inc., a Delaware corporation (“Cargill Financial”), to supplement certain terms of the Credit Agreement dated as of September 3, 2021, by and among Local Bounti Operating Company LLC, a Delaware limited liability company (“Opco”), each subsidiary of Opco identified as a “Borrower” therein, and Cargill Financial (amended, restated, supplemented or otherwise modified from time to time prior to the Transaction Date, the “Senior Credit Agreement”).”

Local Bounti Corporation/DE entered into Convertible Note and Warrant Purchase Agreement with U.S. Bounti, LLC (effective 2026-03-13).

“On March 13, 2026, Local Bounti Corporation, a Delaware corporation (the “Company”), entered into a Convertible Note and Warrant Purchase Agreement (the “Purchase Agreement”) with U.S. Bounti, LLC (the “Purchaser”), providing for the purchase, sale and issuance of (i) a convertible note with an initial principal balance of $15.0 million (the “Note”) and (ii) a common stock purchase warrant (the “Warrant”)”

Local Bounti Corporation/DE received a nyse deficiency notice notice regarding market value (rules 802.01B).

“February 5, 2026, Local Bounti Corporation (the “Company”) received a written notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) that the Company is not in compliance with the continued listing standards set forth in Rule 802.01B of the NYSE Listed Company Manual (the “Minimum Market Capitalization Standard”) because its average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its last reported stockholders’ equity was less than $50 million. As required by the NYSE, the Company intends to timely notify the N”

Local Bounti Corporation/DE amended credit facility of $302.0 million with Cargill Financial Services International, Inc..

“Following the Debt Reduction, the aggregate principal amount of loans outstanding under the Senior Credit Agreement is $302.0 million”

Local Bounti Corporation/DE incurred convertible notes of $10.0 million with U.S. Bounti, LLC at 6.0% per year maturing fourth anniversary of the Issuance Date.

“(the “Purchase Agreement”) with U.S. Bounti, LLC (the “Purchaser”), providing for the purchase, sale and issuance of (i) a convertible note with an initial principal balance of $10.0 million (the “Note”) and (ii) a common stock purchase warrant (the “Warrant”) pursuant to which the Purchaser has the right to purchase and acquire 550,000 shares of the Company’s common”

Charles R. Schwab, Jr. was appointed as Director at Local Bounti Corporation/DE.

“the Board appointed Michael Molnar and Charles R. Schwab, Jr. to the Board, effective March 31, 2025.”

Michael Molnar was appointed as Director at Local Bounti Corporation/DE.

“the Board appointed Michael Molnar and Charles R. Schwab, Jr. to the Board, effective March 31, 2025.”

Kathleen Valiasek was appointed as Chief Executive Officer at Local Bounti Corporation/DE.

“the Board appointed Kathleen Valiasek, who currently serves as the Company’s Chief Financial Officer and President, as Chief Executive Officer of the Company, effective March 31, 2025.”

Craig M. Hurlbert was appointed as Executive Chairman at Local Bounti Corporation/DE.

“Craig M. Hurlbert announced his intention to resign as the Company’s Chief Executive Officer, effective March 31, 2025. The Board appointed Mr. Hurlbert as Executive Chairman on March 27, 2025, effective as of March 31, 2025.”

Craig M. Hurlbert changed role as President at Local Bounti Corporation/DE.

“Craig M. Hurlbert no longer serves as the President of the Company but retains his position as the Chief Executive Officer and Chairman of the Board.”

Local Bounti Corporation/DE reported the three months ended March 31, 2024 results: revenue $8.4 million, net income $24.1 million. Guidance initiated.

“the second half of this year to achieve our full year guidance, which calls for a doubling of revenue versus 2023." First Quarter 2024 Financial Summary • Sales increased 25% to $8.4 million in the first quarter of 2024, as compared to $6.7 million in the prior year period. The increase was primarily due to increased production and growth in sales from the Company's”

Local Bounti Corporation/DE received a nyse noncompliance notice notice regarding market value (rules 802.01B).

“April 3, 2024, Local Bounti Corporation (the “Company”) received a written notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) that the Company is not in compliance with the continued listing standards set forth in Rule 802.01B of the NYSE Listed Company Manual (the “Minimum Market Capitalization Standard”) because its average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its last reported stockholders’ equity was less than $50 million. As required by the NYSE, the Company intends to timely notify the NYSE”

Local Bounti Corporation/DE reported the three and twelve months ended December 31, 2023 results: revenue $27.6 million, net income $124.0 million.

“scale from our capacity expansions in 2024 has us on track to drive positive adjusted EBITDA 1 in early 2025." Full Year 2023 Financial Summary • Sales increased 42% to $27.6 million in 2023, as compared to $19.5 million in the prior year period. The increase was primarily due to inclusion of the April 2022 Pete's acquisition in our results for the full”

Local Bounti Corporation/DE amended credit facility with Cargill Financial Services International, Inc..

“The information provided in Item 1.01 under “Eighth Amendment to Credit Agreements” of this Current Report on Form 8-K is incorporated herein by reference.”

Local Bounti Corporation/DE amended Amendment to Common Stock Purchase Warrant with Cargill Financial Services International, Inc. (effective 2024-01-23).

“On January 23, 2024, the Company entered into an Amendment to Common Stock Purchase Warrant (the “Warrant Amendment”) with Cargill Financial to amend that certain Common Stock Purchase Warrant, dated March 28, 2023”

Local Bounti Corporation/DE amended Eighth Amendment to Credit Agreements with Cargill Financial Services International, Inc. (effective 2024-01-23).

“On January 23, 2024, the Company, along with certain subsidiaries of the Company, entered into an Eighth Amendment to Credit Agreements (the “Eighth Amendment”) with Cargill Financial to further amend the Credit Agreements.”

Anna Fabrega departed as Chief Executive Officer at Local Bounti Corporation/DE.

“On December 14, 2023, the Company determined that Anna Fabrega’s last day of employment as the Chief Executive Officer of the Company was December 14, 2023.”

Craig Hurlbert was appointed as Chief Executive Officer at Local Bounti Corporation/DE.

“On December 14, 2023, the Board of Directors (the “Board”) of Local Bounti Corporation (the “Company”) appointed Craig Hurlbert as the Chief Executive Officer and principal executive officer of the Company, effective immediately.”

Local Bounti Corporation/DE reported the three months ended September 30, 2023 results: revenue $6.8 million, net income $24.3 million.

“levels it will provide for our customers, we expect to begin delivering an acceleration in growth in the coming quarters." Third Quarter 2023 Financial Summary • Sales of $6.8 million in the third quarter of 2023, as compared to $6.3 million in the prior year period. • Gross profit was $0.4 million in the third quarter of 2023. Adjusted gross margin percentage”

Local Bounti Corporation/DE received a nyse delisting notice notice regarding other (rules 802.01D).

“October 18, 2023, the NYSE provided written notice to the Company and publicly announced that NYSE Regulation has determined to commence proceedings to delist the Warrants and that the Warrants are no longer suitable for listing based on “abnormally low” price levels, pursuant to Section 802.01D of the NYSE Listed Company Manual. To effect the delisting, the NYSE will apply to the Securities and Exchange Commission to delist the Warrants upon completion of applicable procedures. The Company is still evaluating whether it will appeal the NYSE’s determination. Trading in the Company’s common sto”

Local Bounti Corporation/DE amended credit facility with Cargill Financial Services International, Inc..

“Seventh Amendment to Credit Agreements As previously disclosed, in September 2021, Local Bounti Corporation (the “Company”), along with certain subsidiaries of the Company, and Cargill Financial Services International, Inc. (“Cargill Financial”) entered into (a) a credit agreement (the “Original Senior Credit Agreement”) and (b) a subordinated credit agreement (the “Original Subordinated Credit Agreement” and, together with the Original Senior Credit Agreement, the “Original Credit Agreements”).”

Local Bounti Corporation/DE amended Seventh Amendment to Credit Agreements with Cargill Financial Services International, Inc. (effective 2023-10-02).

“On October 2, 2023, the Company, along with certain subsidiaries of the Company, entered into a Seventh Amendment to Credit Agreements (the “Seventh Amendment”) with Cargill Financial to further amend the Credit Agreements.”

Local Bounti Corporation/DE reported for the three months ended June 30, 2023 results: revenue $7.2 million, net income $10.7 million. Guidance reaffirmed.

“of this process, we have taken immediate steps to optimize our resources and add key talent that will support our initiatives." Second Quarter 2023 Financial Summary • Sales of $7.2 million in the second quarter of 2023, as compared to $6.3 million in the prior year period. • Gross profit was $0.9 million in the second quarter of 2023. Adjusted gross margin”

Brian Cook departed as President at Local Bounti Corporation/DE.

“On June 23, 2023, it was determined that Brian Cook will separate from employment with Local Bounti Corporation (the "Company") as the Company's President, effective July 7, 2023.”

Local Bounti Corporation/DE shareholders approved Ratification of WithumSmith+Brown, PC as independent registered public accounting firm for year ending December 31, 2023 at the 2023-06-20 meeting.

“Stockholders ratified the appointment of WithumSmith+Brown, PC as our independent registered public accounting firm for the year ending December 31, 2023, based on the following votes: For 71,255,214 Against 1,580,734 Abstain 64,388 Broker Non-Votes —”

Local Bounti Corporation/DE shareholders voted on Election of two Class II directors at the 2023-06-20 meeting.

“Stockholders elected two Class II directors to our Board of Directors to serve for three years and until their successors are elected and qualified or until their earlier resignation or removal, based on the following votes: Nominee Edward C. Forst Mark J. Nelson For 44,323,963 43,422,931 Against — — Withheld 8,208,261 9,109,293 Broker Non-Votes 20,368,112 20,368,112”

Local Bounti Corporation/DE: Filed certificate of amendment to effect a 1-for-13 reverse stock split of common stock (effective 2023-06-15).

“On June 14, 2023, Local Bounti Corporation (the “Company”) filed with the Secretary of State of the State of Delaware a certificate of amendment (the “Certificate of Amendment”) to the Company’s Certificate of Incorporation to effect a 1-for-13 reverse stock split (the “Reverse Stock Split”) of its common stock, par value $0.0001 per share (“Common Stock”).”

Anna Fabrega was appointed as Chief Executive Officer at Local Bounti Corporation/DE.

“On May 22, 2023, the Board of Directors (the “Board”) of Local Bounti Corporation (“Local Bounti,” the “Company,” “we,” “us,” or “our”) appointed Anna Fabrega as the Chief Executive Officer and principal executive officer of the Company, effective as of June 5, 2023.”

Local Bounti Corporation/DE reported the three months ended March 31, 2023 results: revenue $6.7 million, net income $23.5 million. Guidance reaffirmed.

“that we have the funding required to drive the business and achieve breakeven adjusted EBITDA by the end of 2024 or early 2025." First Quarter 2023 Financial Summary • Sales of $6.7 million in the first quarter of 2023, as compared to $0.3 million in the prior year period. • Gross profit was $0.3 million in the first quarter of 2023. Adjusted gross margin percentage”

Local Bounti Corporation/DE incurred lease obligation of $35 million multi-site sale and leaseback transaction with STORE Master Funding XXXI, LLC at Base Annual Rent of $3,237,500 increasing by 3% annually on each adjustment date maturing 25-year initial term expiring April 30, 2048, with four 5-year extension options through April 30, 2068.

“On April 27, 2023, Hollandia Real Estate, LLC (“Hollandia”), a wholly-owned subsidiary of Local Bounti Corporation (the “Company”), and STORE Master Funding XXXI, LLC (“STORE”) consummated a $35 million multi-site sale and leaseback transaction relating to the Carpinteria Facility and the Oxnard Facility”

Local Bounti Corporation/DE entered into Master Lease Agreement with STORE Master Funding XXXI, LLC valued at $35 million (effective 2023-04-27).

“On April 27, 2023, Hollandia Real Estate, LLC (“Hollandia”), a wholly-owned subsidiary of Local Bounti Corporation (the “Company”), and STORE Master Funding XXXI, LLC (“STORE”) consummated a $35 million multi-site sale and leaseback transaction relating to the Carpinteria Facility and the Oxnard Facility (collectively, the “Hollandia Facilities”). In connection with the sale and leaseback transaction, Hollandia and STORE entered into a Master Lease Agreement (the “Lease”), dated April 27, 2023 (the “Effective Date”).”

Local Bounti Corporation/DE shareholders approved To approve an amendment to Local Bounti's Certificate of Incorporation, to, at the discretion of Local Bounti's Board of Directors, effect a reverse stock split of the shares of Local Bounti's common stock, at any time prior to June 30, 2024, at a ratio within a range of 1-for-2 to 1-for-25, with th at the 2023-04-26 meeting.

“On April 26, 2023, Local Bounti Corporation (“Local Bounti,” “we,” “us,” or “our”) held its special meeting of stockholders (the “Special Meeting”).”

Local Bounti Corporation/DE reported the three and twelve months ended December 31, 2022 results: revenue $19.5 million in 2022, net income $111.1 million in 2022. Guidance raised.

“On March 29, 2023, Local Bounti Corporation issued a press release announcing its financial results for the three and twelve months ended December 31, 2022.”

Jennifer Carr-Smith was appointed as Class III director at Local Bounti Corporation/DE.

“On March 17, 2023, the Board of Directors (the “Board”) of Local Bounti Corporation (the “Company”), upon the recommendation of its Nominating and Corporate Governance Committee, expanded the Board by one seat and appointed Jennifer Carr-Smith as a Class III director and to the Compensation Committee of the Board, in each case effective as of May 15, 2023.”