Laird Superfood, Inc.

On April 21, 2026 (the “Closing Date”), Laird Superfood, Inc. (the “Company”) completed its acquisition (the “Terrasoul Acquisition”) of all of the issued and outstanding equity interests of Terrasoul Superfoods, LLC (“Terrasoul”) from the Seller (as defined herein) pursuant to that certain securities purchase agreement, dated April 21, 2026 (the “Terrasoul Acquisition Agreement”), by and among the Company, Terrasoul, Superfoods Seller LLC (the “Seller”) and, solely for purposes of Section 8.16 of the Terrasoul Acquisition Agreement, the Guarantors set froth on Schedule 1 thereto.

On the Closing Date and concurrently with the closing of the Terrasoul Acquisition, the Company completed the issuance and sale of 60,000 shares of Series A Preferred Stock (the “Preferred Shares”) to the Investor (as defined herein) at $1,000 per share for an aggregate purchase price of $60.0 million (the “Subsequent Closing” and together with the Terrasoul Acquisition, the “Transactions”), pursuant to that certain investment agreement dated December 21, 2025 (as amended, the “Investment Agreement”), entered into by and among the Company, Gateway Superfood NSSIII Investment, LLC (“Gateway III”) and Gateway Superfood NSSIV Investment, LLC (“Gateway IV” and, together with Gateway III, the “Investor”). The proceeds from the sale of the Preferred Shares were used to complete the Terrasoul Acquisition.

Item 1.01. Entry into a Material Definitive Agreement.