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Lamb WestonPEOPLEFY2021 Environmental, Social and Governance ReportStakeholder EngagementStakeholder GroupInvestorsPLANETAPPENDIX9By engaging with people and organizations inside and outside our business, wegain a better understanding of what they value. This allows us to take action onissues that matter. We engage with a range of stakeholders in a variety of ways.How We Engage Annual meeting of shareholders Quarterly earnings presentationsFOOD ESG Report Ad-hoc meetings as appropriateCustomers Dedicated sales resources Trace My FriesTM Product labeling and marketing Farm and facility tours Customer Insights SurveyCurrent andPotentialEmployees Updates from executives Sustainability awards Environmental, Health, andSafety (EHS) trainingPeers Potato Sustainability Alliance Roundtable on SustainablePalm Oil (RSPO) International Associationfor Food Protection Policymakers Engagement with federaland local government Local press opportunitiesrelated to our initiatives Participation in regional and statewidechamber of commerce groups (IdahoAssociation of Commerce and Industry,Boise Metro Chamber of Commerce)Suppliers Grower Handbook Dedicated relationshipmanagers for growers Supplier audits Strategic Supplier business reviewsConsumers Product labeling and marketing Social media Website Consumer hotlineAdvocacy Groups/NGOs Food Northwest Integrated Pest Management(IPM) Institute of North America APTA AFFI Pacific Coast Food Waste Collaborative Consumer Brands Association Community engagement programs Recruiting programsGlobal Food Safety InitiativePotatoes USAAmerican Frozen Food Institute (AFFI)American Potato Trade Alliance (APTA)Most Important Issues Corporate Governance Climate Change Food Safety & QualitySustainable AgricultureConsumer Health & NutritionBusiness Continuity Diversity, Equity & Inclusion (DEI) Responsible Sourcing& Traceability Waste Reduction Sustainable Innovation& Technology Waste Reduction Ethics & Integrity Occupational Health & Safety Environmental Compliance Waste Reduction Workplace Culture &Employee Engagement Community Engagement Sustainable Agriculture Food Safety & Quality Responsible Labeling & Marketing Responsible Sourcing& Traceability Sustainable Agriculture Responsible Sourcing & Traceability Responsible Labeling & Marketing Climate Change Community Engagement Partnerships & IndustryCollaborations Sustainable Agriculture Farmer Livelihood Human Rights Responsible Sourcing& Traceability Food Safety & Quality Consumer Health & Nutrition Sustainable Agriculture Sustainable Agriculture Responsible Sourcing & Traceability Customer Health & Nutrition Responsible Sourcing& Traceability Packaging Waste ReductionClimate ChangeProduct InnovationHuman Rights

Lamb WestonFY2021 Environmental, Social and Governance Report2030 GoalsPEOPLEFOODPLANETAPPENDIX10Lamb Weston has set several quantitative goals to work toward in the coming years, as well as more qualitativecommitments. We will provide updates on these goals annually, beginning with this report, against a 2020 baseline, unlessnoted otherwise. Our qualitative commitments are captured in the People, Food, and Planet sections of this report.GoalPerformancePeoplePeople SafetyProtect and enhance the livelihoods of our teams across the globe,striving for zero safety incidents at work and improving safety inour communities.14.5% year-over-year improvement of total incident rateFoodFood SafetyAchieve world-class food safety performance by leveraging cuttingedge technology, innovation, and best practices to maintain the higheststandards of food safety, striving for zero food safety incidents.0 food safety incidentsPlanetSustainable AgriculturePromote sustainable farming practices across our supply chain with afocus on:Building resilience to climate instability and change by investing in soilhealth and its long-term productivity. Soil Health Initiative. Net neutral carbon emissions through crop rotation.Creating more with less through continuous pursuit of technologyinnovations, crop management information systems, methodologies,and practices. 5% use reduction per ton grown: nitrogen, water, and AI pesticide.10.7 pounds of nitrogen used per ton of crops grown13.5 gallons of water used per ton of crops grown4.8 pounds of active ingredient pesticide used per tonof crops grown

Lamb WestonFY2021 Environmental, Social and Governance Report2030 GoalsPEOPLEFOODPLANETAPPENDIXLamb Weston has set several quantitative goals to work toward in the coming years, as well as more qualitativecommitments. We will provide updates on these goals annually, beginning with this report, against a 2020 baseline, unlessnoted otherwise.Our qualitative commitments are captured in the People, Food, and Planet sections of this report.GoalPerformancePlanet (cont.)SourcingImplement responsible sourcing by: Ensuring priority inputs are certified and sustainably sourced. Establishing a process to evaluate supply chain sustainability ofstrategic direct and indirect suppliers. Enhancing supplier diversity through increased opportunities forminority, disadvantaged, and small businesses to compete equally tobecome a supplier or Tier II supplier.100% certified sustainable palm oil andsecondary packaging6% year-over-year increase of plant-based primarypackaging materialsResource planning for supply chain sustainabilityevaluation completeBuilding enhanced supplier diversity capabilities intoour new enterprise resource planning systemProductionLamb Weston is committed to reducing carbon emissions, energyand water use, and the amount of waste generated throughout ouroperations, as evidenced by the following goals: Reduce Scope 1 and 2 carbon emissions 20% per pound produced. Reduce water use 20% per pound produced. Reduce food waste from the production process by 50%. Send zero waste to landfill.3.5% increase in Scope 1 and 2 emissions intensity1.7% increase in water use intensityEstablishing food waste reduction methodology(Pacific Coast Food Waste Collaborative)91% of waste diverted from landfill11

Lamb WestonPEOPLEFY2021 Environmental, Social and Governance ReportFOODPLANETAPPENDIXGovernanceStrong corporate governance is essentialto achieving our 2030 goals and meetingcommitments to our stakeholders.Lamb Weston’s Board of Directors is committed toperforming its responsibilities consistent with soundgovernance practices. The Board routinely reviewsits processes, assesses the regulatory and legislativeenvironment, and adopts governance practices thatsupport informed, competent, and independentoversight on behalf of our shareholders.Lamb Weston’s Board of Directors is comprised of10 members, including nine independent directorsand our chief executive officer. An independentchairman leads the Board, which reviews LambWeston’s long-term strategic plan, selects the CEO,and oversees succession plans for the CEO andother members of our senior management team.Board committees include an Audit and FinanceCommittee, a Compensation and Human CapitalCommittee, and a Nominating and CorporateGovernance Committee.The Lamb Weston Executive Leadership Teamand the Board of Directors regularly receive ESGupdates and take time to understand the criticalresources needed to make meaningful progress inthe coming years. Although the entire Board reviewsour ESG reporting initiatives, our Nominating andCorporate Governance Committee regularly reviewsour performance and progress against targets.ESG GovernanceLamb Weston’s Senior Director of ESGAdministration oversees ESG topics with thehelp of a cross-functional team and executiveoversight. The ESG team consists of leadersfrom across the business, nominated bymembers of the Executive Leadership Team,and is responsible for strategy development,management, and communication of our ESGprograms. The team works directly with subjectmatter experts throughout the business toexecute strategy and drive progress toward ourgoals. Additionally, the ESG team keeps seniorexecutives informed.Lamb Weston’s ValuesIntegrityWe do the right things the right wayevery time, safely and with excellence.InventivenessWe imagine and create better waysof doing things with our customers,suppliers, partners, and employees.EmpowermentWe are bold leaders who makeinformed decisions and act like owners.TeamworkWe value, engage, and challenge eachother and win as a Lamb Weston team.Drive for ResultsWe are passionate and accountablein our pursuit of exceeding ourcommitments for all of our stakeholders.12

Our Progress.PEOPLEMaximizing the individual potential of all 7,800 Lamb Weston team members and sharing valuewith our communities.

Making Progress, TogetherInvolving Everyonein SafetyImproving safety performance requires more than removinghazards. It’s also about engaging every person in creating a safework environment. When our Safety team conducted a survey tounderstand employees’ levels of safety engagement, they foundsomething surprising. Although our Delhi, Louisiana, plant wasmeeting corporate Total Incident Rate (TIR) goals, team membersat the plant reported low levels of engagement, and felt they weren’tbeing adequately recognized for safe behavior.The Safety team jumped into action by introducing readily accessibleincident reporting forms throughout the plant, which made it easierfor hazards to be corrected and employees to be recognized for theirefforts. This simplified process empowered more employees to getinvolved in eliminating hazards and is proving that safety gets betterwhen we commit as a team.By providing our employees with thenecessary skills to excel, we empower them tomake the daily decisions that drive us on ourJourney to Zero.”Shane Sims Production Manager

Lamb WestonPEOPLEFY2021 Environmental, Social and Governance ReportFOODPLANETAPPENDIX15PEOPLEOur Progress7,800 Elevated Peopleemployeesworldwideto a core focus in ourStrategic PlanAND HEALTH ADMINISTRATION (OSHA) TOTALCommunityWe are committed to creating and building a culture of giving among Lamb Weston employeesthat benefits our communities via donations, volunteerism, and advocacy.INCIDENT RATE3.913.913.5Diversity, Equity & InclusionWe are committed to providing a work environment that fosters respect, inclusion, fairness, anddignity, and is free of harassment, discrimination, or fear of 511.470.0of our Board of Directors arediverse in gender and ethnicityCommitmentsLAMB WESTON OCCUPATIONAL SAFETY4.030%1.49FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21We define diversity as the unique abilities, experiences, and cultural backgrounds everyonebrings to our workplace. We recognize the role of diversity in making our company morevaluable for all our stakeholders and for society at large.As a global company, we honor and celebrate the diversity in our team which enriches our worklives and drives diversity of perspectives in our decision making.Community ContributionsDonationsMatching GiftsPay It Forward 250,000 77,00020966%900 117provided to communityprogramsdonated by employeesto eligible charities(matched by LambWeston Foundation)employee donationsmatched by LambWeston Foundationof employeesparticipatedlocal charities benefited 260,0008 locationspaid employee volunteerhours through ourVolunteer Time Off policydonatedwith 90% participation

Lamb WestonFY2021 Environmental, Social and Governance ReportPEOPLEFOODPLANETAPPENDIXEmployeesLamb Weston is a global team of morethan 7,800 people with the primary goal ofbringing great french fries and service toour customers. Delivering delicious friesmight seem like a modest passion, but thedelight that our products bring to the worldis a powerful motivator for our people.Our employees are fry experts—they know the industryinside out, from planting potatoes all the way to frieshitting your plate. We have team members who havebeen with Lamb Weston for 40 years or more, aswell as newer ones who encourage us all to breakwith convention and think differently. Lamb Weston’sworkforce consists of: Hourly employees, both full-time and part-time,most of whom work in our manufacturing facilities inroles ranging from skilled labor to management; andSalaried employees who work in technical andspecialized roles either remotely or in ourcorporate offices.In 2021, Lamb Weston employees navigated severalchallenges with spirit and determination. Despitethe continued COVID-19 pandemic, labor shortages,supply chain issues, and many other unforeseenobstacles, our people made progress on multiple fronts.We supported our employees through this challengingtime by elevating the importance of employee assistanceprograms, such as LifeMatters by Empathia, which offerscounseling services, as well as access to resources forhealth and wellness.The Lamb Weston CultureWe’ve gone to great lengths to create a culturethat reflects the joy and fun of the products weserve. We don’t take ourselves too seriously, andwe unite around the idea that every day is “FryDay.” But while we have fun, we also treat eachother with respect and focus on performanceand results. Our employees feel safe havingdifficult conversations with a balance of conflictand respect, because our leaders listen to theirteams and create space for people to speak up.As we returned to our offices and facilitiesthroughout 2021, we found that many employeesre-centered the importance of work-life balanceduring the periods spent at home. To help themcontinue to enjoy more time with their familiesand friends, many of our plants introduced 12hour shifts, giving employees the chance to havetwo three-day weekends per month. In additionto improving work-life balance, the practice hasalso helped us reduce overtime.Task Force Joins Togetherto Get the Most Out ofOur PotatoesWhen extreme heat in the PacificNorthwest impacted our potato crop,a cross-functional team from our Ag,Commercial, Operations, Logistics,Customer Service, and Quality teamscame together to understand how toget the most out of the potato crop wehad. The heat meant smaller potatoesthat were more prone to defects,and a smaller yield overall. To makesure we were using as much of thesepotatoes as possible and to meet ourcustomer commitments, this teamcame together to review our finishedproduct specifications. The resultwas high-quality fries, with a modifiedspecification set that allowed theoperations team to be more efficientand use more of the available potato.16

Lamb WestonFY2021 Environmental, Social and Governance ReportEthics and IntegrityAs a core tenet of our company, ethics and integritycompels us to do business in the right way for allof our stakeholders. The success of our businessrests on the trust we build among customers andconsumers, and our ability to create an environmentwhere employees can be their best. We placeethical decision-making at the heart of everythingwe do and how we act, with our values leading theway. In 2021, we were pleased to see our effortspay off.When it comes to developing an ethical culture,we understand the importance of leading from thetop. Lamb Weston’s SVP, General Counsel, andChief Compliance Officer leads our Core Ethics &Compliance (E&C) team, with representatives fromacross the business. The team regularly updatesour Board of Directors on compliance initiativesand issues.PEOPLEFOODPLANETAPPENDIX17Code of ConductLamb Weston’s Code of Conduct details ourexpectations for ethical behavior. The Codeis available online as well as on our internalE&C portal in three languages. In support ofthe Code, Lamb Weston maintains a range ofpolicies, also on our online portal, that providemore detail on our approach to specific issues.In addition, we have a Code of Ethics for SeniorCorporate Financial Officers that applies to ourCEO, CFO, and Controller. Lamb Weston’sBoard of Directors oversees our commitmentto ethics and compliance with legal standardsand has approved our Code of Conduct andCode of Ethics for Senior Corporate FinancialOfficers. The Legal Department overseesLamb Weston’s compliance with the Code andother policies. Matters relating to our Code ofConduct are routinely reported to the Board.Lamb Weston’s PoliciesIn support of our Code of Conduct, LambWeston maintains a range of internalpolicies, available to employees throughour online portal, that provide moredetail on our approach to specific issues. Anti-CorruptionAntitrustAnti Discrimination and HarassmentBusiness HospitalityWorkplace ConductConflicts of InterestDelegation of AuthorityDue DiligenceEnterprise Information SecurityHiring Current and FormerGovernment OfficialsInsider TradingGiving and Receiving Business GiftsGlobal Sponsorships andCharitable GivingSupplier Code of Conduct

Lamb WestonFY2021 Environmental, Social and Governance ReportPEOPLEFOODPLANETWe also engage employees through the“We Choose Integrity” video series, whichincludes video messages from members ofour Executive Leadership Team, signage inour facilities about ethical decision making,and branded badge holders displaying theLamb Weston values.APPENDIXIn 2021, the Ethics& Compliance Weektheme was “Respect inthe Workplace.”During our annual Ethics & ComplianceWeek, the E&C team organizes activities toraise awareness about the importance of E&C. In 2021,the theme was “Respect in the Workplace.”Training and EngagementWe educate employees on E&C throughout their careers—when they jointhe company, with training on the Code of Conduct and Harrassment &Discrimination, and annually through mandatory refresher courses. Wealso offer multiyear training for all salaried employees on informationsecurity, as well as tailored courses covering anti-bribery, antitrust,leadership, and export compliance.Beyond formal training, our CEO and SVP, General Counsel, andChief Compliance Officer, as well as our Communications, Legal,and HR teams, deliver regular email communications to reinforceethical behavior.18Reporting ConcernsIt’s imperative to our ethical culture that employees speak up whenthey have an ethics concern, so we make it as easy as possible forthem to do so. Employees can report concerns or ask questionsby speaking to their immediate manager or other managers in theirorganization, their HR representative, or the capital department. Theycan also report concerns through the Lamb Weston Ethics Helpline,which is managed by an independent third party, has the option toreport anonymously and is available 24/7. Employees can access theHelpline via phone or online in more than 70 languages. It is also opento customers, suppliers, and other stakeholders.In 2021, we received 108 reports to the Helpline, an increase from2020. Reports are initially handled by specially trained third-partystaff then investigated by authorized Lamb Weston personnel. We donot tolerate retaliation against any employee or party who reports aconcern in good faith or participates in an ethics investigation.

Lamb WestonPEOPLEFY2021 Environmental, Social and Governance ReportOccupationalHealth and SafetyLamb Weston hasmaintained a commitmentto world-class safety withinour facilities since day oneof our o

2 Introduction 4 CEO Message 5 Corporate Profile 7 How We Create Value 8 Sustainability at Lamb Weston 9 Stakeholder Engagement 10 2030 Goals 12 Governance 13 People 15 People: Our Progress 16 Employees 27 Communities 14 Making Progress, Together 29 Food 31 Food: Our Progress 32 Product Stewardship 35 Product Labeling and Marketing 36 Food Safety and Quality 30 Making Progress, Together 74 .