LEE ENTERPRISES, Inc

Insider Trading Arrangement

On March 13, 2026, Mr. David Hoffmann, the Company's Chairman of the Board, adopted a 10b5-1 Plan. Mr. Hoffmann’s 10b5-1 Plan is intended to satisfy the affirmative defense of Rule 10b5-1(c). Trades under Mr. Hoffmann’s 10b5-1 Plan are subject to the required “cooling-off period” with the estimated first sale date under Mr. Hoffmann’s 10b5-1 Plan to occur not before June 12, 2026. Mr. Hoffmann’s 10b5-1 Plan expires on June 12, 2027. The 10b5-1 Plan governs Mr. Hoffmann’s purchase of 242,991 shares of the Company's Common Stock. Transactions under the 10b5-1 Plan will be disclosed publicly through Form 144 and Form 4 filings with the SEC to the extent required by law.

Cybersecurity Incident

On February 3, 2025, we experienced a cybersecurity incident that disrupted certain IT systems and resulted in unauthorized access to certain files (the “Cyber Incident”). We activated our incident-response plan, engaged third-party cybersecurity experts, notified law enforcement, and offered identity-protection services to affected customers and subscribers. The Cyber Incident adversely affected fiscal 2025 operating results; however, the incremental impact on revenues and certain operating expenses is not reasonably separable from other business factors. The incident remains under legal and forensic review, and we continue to implement security enhancements. We maintain cyber insurance with a $0.5 million deductible.

Since the incident, we have incurred $10.5 million in cash flow losses attributable to the cyber incident, which have been submitted for recovery to our insurance providers. Approximately $3.7 million of incurred expenses and $2.0 million of reimbursements were recognized in "Restructuring and Other" in the Consolidated Statements of Loss and Comprehensive Loss during the year ended September 28, 2025. For the six months ended March 29, 2026, we have received $0.8 million of reimbursements, which are presented as a reduction of related costs within “Restructuring and other” and $5.8 million in business interruption reimbursements that were recorded on a separate line within "Operating Expenses".