LWAY / Lifeway Foods, Inc. - SEC申報文件,年度報告,委任書

生命之路食品公司
US ˙ NasdaqGM ˙ US5319141090

基本數據
CIK 814586
SEC Filings
All companies that sell securities in the United States must register with the Securities and Exchange Commission (SEC) and file reports on a regular basis. These reports include company annual reports (10K, 10Q), news updates (8K), investor presentations (found in 8Ks), insider trades (form 4), ownership reports (13D, and 13G), and reports related to the specific securities sold, such as registration statements and prospectus. This page shows recent SEC filings related to Lifeway Foods, Inc.
SEC Filings (Chronological Order)
本頁面提供了一個完整的、按時間順序排列的美國證券交易委員會(SEC)申報文件列表,不包括我們在其他地方提供的所有權申報。
June 3, 2026 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 3, 2026 LIFEWAY FOODS, INC.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 3, 2026 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) ILLINOIS 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File N

June 3, 2026 DEFA14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Amendment No. 1) PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Amendment No. 1) PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Defi

May 18, 2026 424B7

LIFEWAY FOODS, INC. 3,454,756 shares of Common Stock

Filed Pursuant to Rule 424(b)(7) Registration No. 333-291148 PROSPECTUS SUPPLEMENT (to Prospectus dated December 10, 2025) LIFEWAY FOODS, INC. 3,454,756 shares of Common Stock The selling stockholder (the “Selling Stockholder”) named herein is offering 3,454,756 shares of our common stock, no par value (“Common Stock”). We will not receive any of the proceeds from the sale of the shares of Common

May 14, 2026 EX-99.1

Lifeway Foods Announces Pricing of Secondary Underwritten Public Offering of Common Stock

Exhibit 99.1 Lifeway Foods Announces Pricing of Secondary Underwritten Public Offering of Common Stock Morton Grove, IL — May 14, 2026 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or the “Company”) today announced the pricing of a secondary underwritten public offering (the “Offering”) of 3,454,756 shares of its common stock (“Common Stock”) by Danone USA Public Benefit Corporation (the “Sellin

May 14, 2026 424B3

SUBJECT TO COMPLETION, DATED MAY 14, 2026

Filed Pursuant to Rule 424(b)(3) Registration No. 333-291148 The information in this preliminary prospectus supplement is not complete and may be changed. A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell nor are we seeking

May 14, 2026 8-K

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 14, 2026 LIFEWAY FOODS, INC

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 14, 2026 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File

May 14, 2026 EX-1.1

3,454,756 Shares LIFEWAY FOODS, INC. Common Stock, No Par Value UNDERWRITING AGREEMENT

Exhibit 1.1 3,454,756 Shares LIFEWAY FOODS, INC. Common Stock, No Par Value UNDERWRITING AGREEMENT May 14, 2026 BTIG, LLC 65 East 55th Street New York, NY 10022 Ladies and Gentlemen: Danone USA Public Benefit Corporation, a Delaware public benefit corporation (the “Selling Stockholder”), proposes to sell to BTIG, LLC (“BTIG”), as the sole underwriter (the “Underwriter,” which term shall also inclu

May 14, 2026 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 14, 2026 LIFEWAY FOODS, INC.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 14, 2026 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) ILLINOIS 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File N

May 14, 2026 EX-99.1

Lifeway Foods® Announces Record-Breaking Results for the First Quarter Ended March 31, 2026 Achieves $63.0 million in net sales, a 37% volume-led net sales increase, driven by the Company’s flagship Lifeway Kefir Record-breaking results signal robust

Exhibit 99.1 Lifeway Foods® Announces Record-Breaking Results for the First Quarter Ended March 31, 2026 Achieves $63.0 million in net sales, a 37% volume-led net sales increase, driven by the Company’s flagship Lifeway Kefir Record-breaking results signal robust Kefir & Farmer Cheese growth, supported by the widening consumer focus on protein-rich, probiotic foods Significant gross profit margin

May 14, 2026 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2026 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-42398 LIFEWAY FOODS, INC.

April 30, 2026 DEF 14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☑ Definitive Proxy State

April 30, 2026 DEFA14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy State

April 1, 2026 8-K

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 1, 2026 LIFEWAY FOODS, IN

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 1, 2026 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fil

April 1, 2026 EX-99.1

Lifeway Foods Surges Into 2026, Projecting 32% to 35% First Quarter Growth Momentum Signals Continued Kefir & Farmer Cheese Boom Announces First Quarter 2026 Earnings Date of May 14, 2026

Exhibit 99.1 Lifeway Foods Surges Into 2026, Projecting 32% to 35% First Quarter Growth Momentum Signals Continued Kefir & Farmer Cheese Boom Announces First Quarter 2026 Earnings Date of May 14, 2026 MORTON GROVE, Ill., April 1, 2026 – Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or the “Company”), the leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, tod

March 17, 2026 EX-99.1

Lifeway Foods® Announces Strong Fourth Quarter and Record-Breaking Full Year 2025 Results Led by the Company’s Flagship Kefir Company achieves full year 2025 net sales of $212.5 million; up 19% year-over-year on a comparable basis Record-breaking yea

Exhibit 99.1 Lifeway Foods® Announces Strong Fourth Quarter and Record-Breaking Full Year 2025 Results Led by the Company’s Flagship Kefir Company achieves full year 2025 net sales of $212.5 million; up 19% year-over-year on a comparable basis Record-breaking year marks six years of uninterrupted, volume-led annual net sales growth Annual gross margin expansion of 140 basis points and net income g

March 17, 2026 EX-3.3

SECOND AMENDED AND RESTATED BY-LAWS OF LIFEWAY FOODS, INC.

Exhibit 3.3 SECOND AMENDED AND RESTATED BY-LAWS OF LIFEWAY FOODS, INC. These Amended and Restated Bylaws (the “Bylaws”) are hereby amended and restated as of this 24th day of March 2023, by the Board of Directors of Lifeway Foods, Inc. (the “Board”). RECITALS WHEREAS, Lifeway Foods, Inc. has heretofore been formed as a corporation under the Illinois Business Corporation Act of 1983 (805 ILCS § 5/1

March 17, 2026 8-K

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 17, 2026 LIFEWAY FOODS, I

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 17, 2026 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fi

March 17, 2026 EX-21

Subsidiaries of Lifeway Foods, Inc.

Exhibit 21 Subsidiaries of Lifeway Foods, Inc. Below is a list of the subsidiaries of Lifeway Foods, Inc. All of the voting stock of each subsidiary is 100% owned directly by Lifeway Foods, Inc. Name of Subsidiary Jurisdiction of Incorporation or Organization Lifeway Wisconsin, Inc. Illinois Fresh Made, Inc. Pennsylvania Lifeway Foods Europe Limited Ireland

March 17, 2026 EX-4.1

DESCRIPTION OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

Exhibit 4.1 DESCRIPTION OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 Lifeway Foods, Inc. (“Lifeway,” “we,” “us” or “our”) has two classes of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our common stock, no par value (“Common Stock”), and the rights (each, a “Right” and, co

March 17, 2026 10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTI

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-17363 LIFEWAY

March 11, 2026 EX-10.2

NOTICE OF DEFERRED PERFORMANCE-BASED CASH AWARD under the LIFEWAY FOODS, INC. 2022 OMNIBUS INCENTIVE PLAN

Exhibit 10.2 NOTICE OF DEFERRED PERFORMANCE-BASED CASH AWARD under the LIFEWAY FOODS, INC. 2022 OMNIBUS INCENTIVE PLAN This AWARD, made as of the h day of , 20, by Lifeway Foods, Inc., an Illinois corporation (the “Company”), to (“Participant”), is made pursuant to and subject to the provisions of the Lifeway Foods, Inc. 2022 Omnibus Incentive Plan (the “Plan”). All terms that are used herein that

March 11, 2026 EX-10.1

NOTICE OF DEFERRED TIME-VESTED CASH AWARD under the LIFEWAY FOODS, INC. 2022 OMNIBUS INCENTIVE PLAN

Exhibit 10.1 NOTICE OF DEFERRED TIME-VESTED CASH AWARD under the LIFEWAY FOODS, INC. 2022 OMNIBUS INCENTIVE PLAN This AWARD, made as of the day of , 20, by Lifeway Foods, Inc., an Illinois corporation (the “Company”), to (“Participant”), is made pursuant to and subject to the provisions of the Lifeway Foods, Inc. 2022 Omnibus Incentive Plan (the “Plan”). All terms that are used herein that are def

March 11, 2026 8-K

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 6, 2026 LIFEWAY FOODS, IN

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 6, 2026 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fil

January 8, 2026 8-K

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 8, 2026 LIFEWAY FOODS,

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 8, 2026 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission F

January 8, 2026 EX-99.1

Kefir-Leader Lifeway Foods Expects Record-Breaking 2025 Results and Announces Participation in the ICR Conference

Exhibit 99.1 Kefir-Leader Lifeway Foods Expects Record-Breaking 2025 Results and Announces Participation in the ICR Conference Morton Grove, IL — January 8, 2026 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), the leading U.S. supplier of kefir and fermented probiotic foods, today announced that the Company will participate in the ICR Conference on Tuesday, January 13, 2026 in O

December 31, 2025 8-K

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 29, 2025 LIFEWAY FOODS

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 29, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission

December 30, 2025 8-K

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 29, 2025 LIFEWAY FOODS

` UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 29, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission

December 30, 2025 EX-10.1

SIXTH MODIFICATION TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

Exhibit 10.1 SIXTH MODIFICATION TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT This Sixth Modification to Amended and Restated Loan and Security Agreement (this “Amendment”) is entered into effective as of December 29, 2025 (the “Effective Date”) by and among CIBC BANK USA (the “Lender”), LIFEWAY FOODS, INC., an Illinois corporation (“Lifeway”), FRESH MADE, INC., a Pennsylvania corporation (“

December 29, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 29, 2025 LIFEWAY FOODS,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 29, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission F

December 29, 2025 EX-99.1

Lifeway Foods, Inc. ANNUAL SHAREHOLDERS MEETING 2025

Exhibit 99.1 Lifeway Foods, Inc. ANNUAL SHAREHOLDERS MEETING 2025 Forward Looking Statements 2 This presentation contains “forward - looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and objectives. These statements use words, and v

December 19, 2025 DEFA14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy State

December 17, 2025 DFAN14A

ISS Flags “Shadow Executive” Risk at Lifeway Foods as CEO’s Spouse Acts as De Facto Governance Authority Despite Prior Credibility Issues in Federal Litigation

PRESS RELEASE FOR IMMEDIATE RELEASE ISS Flags “Shadow Executive” Risk at Lifeway Foods as CEO’s Spouse Acts as De Facto Governance Authority Despite Prior Credibility Issues in Federal Litigation Chicago, IL — December 17, 2025 — Edward Smolyansky, largest individual shareholder of Lifeway Foods, Inc.

December 15, 2025 DFAN14A

LIFEWAY SHAREHOLDER RELEASES KEY DEPOSITION INSIGHTS, CALLS FOR WITHHOLD VOTE ON LEGACY DIRECTORS DORRI McWHORTER, JULIE SMOLYANSKY, AND JASON SCHER

LIFEWAY SHAREHOLDER RELEASES KEY DEPOSITION INSIGHTS, CALLS FOR WITHHOLD VOTE ON LEGACY DIRECTORS DORRI McWHORTER, JULIE SMOLYANSKY, AND JASON SCHER Chicago, IL — December 15, 2025.

December 11, 2025 DEFR14A

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy Statement ☒ Definit

December 11, 2025 DFAN14A

EDWARD SMOLYANSKY PROVIDES CRITICAL CAMPAIGN UPDATE- URGES WITHHOLD ON DORRI McWHORTER, JASON SCHER, and CEO JULIE SMOLYANSKY

FOR IMMEDIATE RELEASE EDWARD SMOLYANSKY PROVIDES CRITICAL CAMPAIGN UPDATE- URGES WITHHOLD ON DORRI McWHORTER, JASON SCHER, and CEO JULIE SMOLYANSKY Chicago, IL — December 11, 2025.

December 10, 2025 424B3

LIFEWAY FOODS, INC. 3,454,756 shares of Common Stock

Filed Pursuant to Rule 424(b)(3) Registration No. 333- 291148 LIFEWAY FOODS, INC. 3,454,756 shares of Common Stock The selling stockholder (the “Selling Stockholder”) named herein may offer from time to time up to 3,454,756 shares of our common stock, no par value (“Common Stock”), in amounts, at prices and on terms to be determined at the time of sale. We will not receive any of the proceeds from

December 8, 2025 DFAN14A

Investor Presentation Case for Change Edward Smolyansky and Ludmila Smolyansky December 5, 2025 2 Legal Disclaimer Important Information This communication is not a request for a proxy to vote on any matter. Any written solicitation of a proxy by Mr.

Investor Presentation Case for Change Edward Smolyansky and Ludmila Smolyansky December 5, 2025 2 Legal Disclaimer Important Information This communication is not a request for a proxy to vote on any matter.

December 8, 2025 CORRESP

December 8, 2025

December 8, 2025 VIA EDGAR United States Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: Lifeway Foods, Inc.

December 5, 2025 DFAN14A

Edward Smolyansky Files Definitive Proxy Statement toward Achieving Further Board Change and a New Beginning for Lifeway Foods, Inc. (NASDAQ: LWAY)

FOR IMMEDIATE RELEASE Edward Smolyansky Files Definitive Proxy Statement toward Achieving Further Board Change and a New Beginning for Lifeway Foods, Inc.

December 5, 2025 DEFN14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of

December 3, 2025 DFAN14A

Edward Smolyansky Issues Shareholder Letter Regarding Lifeway Foods, Inc. Misleading and False Public Statements (NASDAQ: LWAY)

FOR IMMEDIATE RELEASE Edward Smolyansky Issues Shareholder Letter Regarding Lifeway Foods, Inc.

December 1, 2025 DEFA14A

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy Statement ☑ Definit

December 1, 2025 DEFC14A

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☑ Definitive Proxy Statement ☐ Definit

December 1, 2025 EX-99.1

Lifeway Issues Letter to Shareholders Regarding Dissident Director Nominees, Revealing Disqualifying Track Records and Ethical Failures Highly concerning nominee backgrounds underscore questionable judgement by Edward Smolyansky and George Sent, Mana

Exhibit 99.1 Lifeway Issues Letter to Shareholders Regarding Dissident Director Nominees, Revealing Disqualifying Track Records and Ethical Failures Highly concerning nominee backgrounds underscore questionable judgement by Edward Smolyansky and George Sent, Managing Director of Cascadia Capital Edward and Ludmila Smolyansky’s personal liquidity needs may be behind their demands for a quick sale o

December 1, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 26, 2025 LIFEWAY FOODS,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 26, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission F

November 26, 2025 DFAN14A

Edward Smolyansky Files Preliminary Proxy Statement toward Achieving Further Board Change and a New Beginning for Lifeway Foods, Inc. (NASDAQ: LWAY)

FOR IMMEDIATE RELEASE Edward Smolyansky Files Preliminary Proxy Statement toward Achieving Further Board Change and a New Beginning for Lifeway Foods, Inc.

November 24, 2025 PREN14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: x Preliminary Proxy Statement o Confidential, for Use of

November 13, 2025 PREC14A

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☑ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy Statement ☐ Definit

November 12, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 12, 2025 LIFEWAY FOODS,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 12, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission F

November 12, 2025 EX-99.1

Press Release dated November 12, 2025

Exhibit 99.1 Lifeway Foods Delivers Record Q3 2025 Net Sales and Strong Net Income Growth Continuing Kefir Category Dominance Achieves $57.1 million in net sales, a 29% volume-led net sales increase on a comparable basis, driven by the Company’s flagship Lifeway Kefir Record-breaking quarter marks six years of uninterrupted quarterly net sales growth Significant gross margin expansion of 300 basis

November 12, 2025 PRE 14A

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☑ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy Statement ☐ Definit

November 12, 2025 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2025 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-42398 LIFEWAY FOODS, INC.

November 7, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 3, 2025 L

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 3, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission Fi

November 7, 2025 DFAN14A

Edward Smolyansky Issues Statement Regarding Lifeway Foods (NASDAQ: LWAY) Extension of Existing Rights Plan, Board Refreshment and Delayed 2025 Annual Meeting Extension protects entrenched board and management rather than maximizes shareholder value;

Edward Smolyansky Issues Statement Regarding Lifeway Foods (NASDAQ: LWAY) Extension of Existing Rights Plan, Board Refreshment and Delayed 2025 Annual Meeting Extension protects entrenched board and management rather than maximizes shareholder value; shareholders must demand an immediate vote.

November 4, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 29, 2025 LIFEWAY FOODS, I

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 29, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission Fi

November 4, 2025 EX-3.1

AMENDMENT NO. 1 TO SECOND AMENDED AND RESTATED BYLAWS OF LIFEWAY FOODS, INC.

Exhibit 3.1 AMENDMENT NO. 1 TO SECOND AMENDED AND RESTATED BYLAWS OF LIFEWAY FOODS, INC. These Second Amended and Restated Bylaws (the “Bylaws”) of Lifeway Foods, Inc. (the “Corporation”) are hereby amended as of October 29, 2025 by the Board of Directors of the Corporation (the “Board of Directors”). WHEREAS, the Corporation has heretofore been formed as a corporation under the Illinois Business

October 30, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 29, 2025 LIFEWAY FOODS, I

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 29, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Its Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission Fi

October 30, 2025 EX-99.1

Lifeway Foods Extends Existing Shareholder Rights Plan

LIFEWAY FOODS, INC. 8-K Exhibit 99.1 Lifeway Foods Extends Existing Shareholder Rights Plan Morton Grove, Ill. — October 29, 2025 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or the “Company”), the leading U.S. supplier of kefir and fermented probiotic products that support the microbiome, today announced that its Board of Directors has approved an amendment to the Company’s existing Shareholde

October 29, 2025 8-A12B/A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-A/A (Amendment No. 1) FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-A/A (Amendment No. 1) FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) Illinois 36-3442829 (State or other jurisdiction of incorporation or organization) (IRS Employer Ide

October 29, 2025 EX-FILING FEES

CALCULATION OF FILING FEE TABLES Lifeway Foods, Inc. Table 1: Newly Registered and Carry Forward Securities

Ex-Filing Fees CALCULATION OF FILING FEE TABLES S-3 Lifeway Foods, Inc. Table 1: Newly Registered and Carry Forward Securities Line Item Type Security Type Security Class Title Notes Fee Calculation Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Newly Registered Securities Fees to be Paid Equity Common Stock, no

October 29, 2025 S-3

As filed with the Securities and Exchange Commission on October 29, 2025

Table of Contents As filed with the Securities and Exchange Commission on October 29, 2025 Registration No.

October 29, 2025 EX-4.2

AMENDMENT NO. 1 TO SHAREHOLDER RIGHTS AGREEMENT

LIFEWAY FOODS, INC. 8-A12B/A Exhibit 4.2 AMENDMENT NO. 1 TO SHAREHOLDER RIGHTS AGREEMENT This Amendment No. 1 to Shareholder Rights Agreement (this “Amendment”) is made and entered into as of October 29, 2025, by and between Lifeway Foods, Inc., an Illinois corporation (the “Company”), and Computershare Trust Company, N.A., as rights agent (the “Rights Agent”), and amends that certain Shareholder

October 9, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 9, 2025 LIFEWAY FOODS, IN

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 9, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fil

October 7, 2025 144

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144 0001227848 XXXXXXXX LIVE 0000814586 Lifeway Foods, Inc. 001-42398 6431 W OAKTON MORTON GROVE IL 60053 847-967-1010 SMOLYANSKY LUDMILA 10% Stockholder COMMON RBC CAPITAL MARKETS LLC 250 NICOLLET MALL, SUITE 1700 MINNEAPOLIS MN 55401 15000 394500.00 15226520 10/07/2025 NASDAQ COMMON 01/01/2002 INHERITANCE MICHAEL SMOLYANSKY N 15000 01/01/2002 N/A Y 10/07/2025 POA / JEFFREY EISCHENS

October 6, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 6, 2025 LIFEWAY FOODS, IN

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 6, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fil

October 6, 2025 EX-99.1

Lifeway® Foods Projects Estimated Unaudited Net Sales Range of $55.8 Million to $57.0 Million for Third Quarter of 2025, Highlighting Record Growth for Flagship Kefir Products

Exhibit 99.1 Lifeway® Foods Projects Estimated Unaudited Net Sales Range of $55.8 Million to $57.0 Million for Third Quarter of 2025, Highlighting Record Growth for Flagship Kefir Products Morton Grove, IL — October 6, 2025 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), the undisputed leader in kefir in the U.S., today announced estimated unaudited net sales of between $55.8 an

October 1, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 30, 2025 LIFEWAY FOODS,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 30, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File

October 1, 2025 EX-99.1

Lifeway and Danone Sign Cooperation Agreement New Independent Directors to be Added Stockholders’ Agreement Litigation is Stayed Lifeway is Evaluating Capital Allocation Alternatives to Maximize Value Danone Will Not Vote or Deliver Consent in Favor

LIFEWAY FOODS, INC 8-K Exhibit 99.1 Lifeway and Danone Sign Cooperation Agreement New Independent Directors to be Added Stockholders’ Agreement Litigation is Stayed Lifeway is Evaluating Capital Allocation Alternatives to Maximize Value Danone Will Not Vote or Deliver Consent in Favor of Proposals Contained in the Consent Solicitation MORTON GROVE, Ill., September 30, 2025 — Lifeway Foods, Inc. (N

October 1, 2025 EX-4.1

Danone North America PBC 1 Maple Avenue White Plains, NY 10605

LIFEWAY FOODS, INC 8-K Exhibit 4.1 Danone North America PBC 1 Maple Avenue White Plains, NY 10605 Lifeway Foods, Inc. 6431 West Oakton Morton Grove, IL 60053 Attention: Board of Directors Ladies and Gentlemen: This Letter Agreement (this “Agreement”), dated as of September 30, 2025, is being entered into by and between Lifeway Foods, Inc., an Illinois corporation (the “Company”), and Danone North

October 1, 2025 144

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144 0001227847 XXXXXXXX LIVE 0000814586 Lifeway Foods, Inc. 001-42398 6431 W OAKTON MORTON GROVE IL 60053 847-967-1010 SMOLYANSKY EDWARD 10% Stockholder Common Citigroup Global Markets Inc 388 Greenwich Street New York NY 10013 83643 2166830.47 15226520 10/01/2025 NASDAQ Common 05/19/2023 Purchase LUDMILA SMOLYANSKY N 3197975 05/19/2023 CASH N Edward Smolyansky 1219 N Wells St chicago IL 60610 Com

October 1, 2025 144

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144 0001804749 XXXXXXXX LIVE 0000814586 LifeWayFoods Inc 001-42398 6431 Oakton Street Morton Grove IL 60053 8479671010 Jody Levy Board Member Common Merrill Lynch 75 Rockefeller Plz Flr 2 New York NY 10019 26847 697586.

October 1, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 1, 2025 LIFEWAY FOODS, IN

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 1, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fil

September 24, 2025 144

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144 0001227847 XXXXXXXX LIVE 0000814586 Lifeway Foods, Inc. 001-42398 6431 W OAKTON MORTON GROVE IL 60053 847-967-1010 SMOLYANSKY EDWARD 10% Stockholder Common Citigroup Global Markets Inc 388 Greenwich Street New York NY 10013 10000 266914.00 15226520 09/24/2025 NASDAQ Common 05/19/2023 Purchase LUDMILA SMOLYANSKY N 3197975 05/19/2023 Cash N Edward Smolyansky 1219 N WELLS ST chicago IL 60610 Comm

September 23, 2025 144

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144 0001227847 XXXXXXXX LIVE 0000814586 Lifeway Foods, Inc 001-42398 6341 Oakton Street Mortgon Grove IL 60053 (847) 967-1010 SMOLYANSKY EDWARD 10% Stockholder Common Citigroup Global Markets Inc 388 Greenwich Street New York NY 10013 6357 168653.75 15226520 09/23/2025 NASDAQ Common 05/19/2023 Purchase LUDMILA SMOLYANSKY N 3197975 05/19/2023 Cash Y 09/23/2025 /s/ Edward Smolyansky

September 18, 2025 EX-99.1

Lifeway Foods, Inc. 8-K

Lifeway Foods, Inc. 8-K Exhibit 99.1 Lifeway Foods Issues Statement in Response to Danone MORTON GROVE, Ill., Sept. 18, 2025 - Lifeway Foods, Inc. (Nasdaq: LWAY) ("Lifeway" or "the Company"), a leading U.S. supplier of kefir and fermented probiotic products that support the microbiome, today issued the following statement following Danone’s withdrawal of its proposal to acquire Lifeway: We remain

September 18, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 18, 2025 LIFEWAY FOODS,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 18, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File

September 2, 2025 EX-99.1

Lifeway® Foods Reports Estimated Net Sales of $39.1 Million for Q3-to-Date Through August, Showcasing Category Leadership and Unprecedented Growth Momentum Continues with 20% Year-Over-Year Growth in First Two Months of Third Quarter

Exhibit 99.1 Lifeway® Foods Reports Estimated Net Sales of $39.1 Million for Q3-to-Date Through August, Showcasing Category Leadership and Unprecedented Growth Momentum Continues with 20% Year-Over-Year Growth in First Two Months of Third Quarter Morton Grove, IL — September 2, 2025 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), the undisputed leader in kefir in the U.S., today

September 2, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 2, 2025 LIFEWAY FOODS,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 2, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission F

August 12, 2025 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-42398 LIFEWAY FOODS, INC.

August 12, 2025 EX-99.1

Lifeway Foods Delivers Record Q2 2025 Net Sales, Extends Kefir Category Leadership, and Estimates Over 20% Q3 Net Sales Growth to Date Kefir market leader posts $53.9 million in net sales, an 18% volume-led net sales increase on a comparable basis, m

Exhibit 99.1 Lifeway Foods Delivers Record Q2 2025 Net Sales, Extends Kefir Category Leadership, and Estimates Over 20% Q3 Net Sales Growth to Date Kefir market leader posts $53.9 million in net sales, an 18% volume-led net sales increase on a comparable basis, marking nearly six years of uninterrupted net sales growth Company posts double-digit diluted EPS gains and strong gross margin expansion

August 12, 2025 EX-99.1

Press release dated August 12, 2025 reporting Lifeway’s financial results for the three months ended June 30, 2025

EXHIBIT 99.1 Lifeway Foods Delivers Record Q2 2025 Net Sales, Extends Kefir Category Leadership, and Estimates Over 20% Q3 Net Sales Growth to Date Kefir market leader posts $53.9 million in net sales, an 18% volume-led net sales increase on a comparable basis, marking nearly six years of uninterrupted net sales growth Company posts double-digit diluted EPS gains and strong gross margin expansion

August 12, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 12, 2025 LIFEWAY FOODS, IN

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 12, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fil

August 8, 2025 DFAN14A

Edward Smolyansky and Ludmila Smolyansky Announce Extension of Requested Response Deadline for Pending Consent Solicitation August 7, 2025

Edward Smolyansky and Ludmila Smolyansky Announce Extension of Requested Response Deadline for Pending Consent Solicitation August 7, 2025 Edward Smolyansky and Ludmila Smolyansky, long-term shareholders of Lifeway Foods, Inc.

July 29, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 29, 2025 LIFEWAY FOODS, INC.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 29, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File Numb

July 29, 2025 EX-99.1

Lifeway Foods Acknowledges ISS Recommendation to Reject Dissident Campaign

LIFEWAY FOODS, INC. 8-K Exhibit 99.1 Lifeway Foods Acknowledges ISS Recommendation to Reject Dissident Campaign Morton Grove, IL – July 29, 2025 – Lifeway Foods, Inc. (NASDAQ: LWAY), a leading U.S. supplier of kefir and fermented probiotic products, today announced that Institutional Shareholder Services Inc. (ISS), a leading independent proxy advisory firm, has recommended that shareholders “DO N

July 29, 2025 DEFA14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Defin

July 29, 2025 DFAN14A

Edward Smolyansky Provides Update on Consent Solicitation to Restore Board Accountability at Lifeway Foods (NASDAQ: LWAY) and End Shareholder Voting is Still Open: Shareholders Requested to Submit Consent by August 1 to Make their Voices Heard

Edward Smolyansky Provides Update on Consent Solicitation to Restore Board Accountability at Lifeway Foods (NASDAQ: LWAY) and End Shareholder Disenfranchisement Voting is Still Open: Shareholders Requested to Submit Consent by August 1 to Make their Voices Heard CHICAGO, July 29, 2025 /PRNewswire/ — Edward and Ludmila Smolyansky, long-term shareholders of Lifeway Foods, Inc.

July 16, 2025 DEFA14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Defin

July 15, 2025 EX-99.1

Lifeway Foods® Announces Record Week Surpassing $5.5 Million in Gross Sales Propelled by Strong Demand for Lifeway Kefir and Lifeway Farmer Cheese Company Plans to Report Second Quarter 2025 Results on August 12, 2025

Exhibit 99.1 Lifeway Foods® Announces Record Week Surpassing $5.5 Million in Gross Sales Propelled by Strong Demand for Lifeway Kefir and Lifeway Farmer Cheese Company Plans to Report Second Quarter 2025 Results on August 12, 2025 Morton Grove, IL — July 15, 2025 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a leading U.S. supplier of kefir and fermented probiotic products to

July 15, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 15, 2025 LIFEWAY FOODS, INC.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 15, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File

July 11, 2025 DFAN14A

Edward and Ludmila Smolyansky Provide Update on the Definitive Consent Solicitation Process Currently Underway and Respond to Lifeway Foods, Inc. (NASDAQ: LWAY)

FOR IMMEDIATE RELEASE Edward and Ludmila Smolyansky Provide Update on the Definitive Consent Solicitation Process Currently Underway and Respond to Lifeway Foods, Inc.

July 3, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 3, 2025

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 3, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File Numbe

July 3, 2025 EX-99.1

Lifeway Foods Comments on Edward and Ludmila Smolyansky’s Consent Solicitation and Urges Shareholders to Disregard the Unlawful Consent Solicitation Statement

Lifeway Foods Inc. 8-K Exhibit 99.1 Lifeway Foods Comments on Edward and Ludmila Smolyansky’s Consent Solicitation and Urges Shareholders to Disregard the Unlawful Consent Solicitation Statement MORTON GROVE, Ill., July 3, 2025 — Lifeway Foods, Inc. (NASDAQ: LWAY) (“Lifeway” or the “Company”), a leading U.S. supplier of Kefir and fermented probiotic products to support the microbiome, made the fol

July 3, 2025 DEFA14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Defin

July 2, 2025 DEFN14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN CONSENT STATEMENT SCHEDULE 14A INFORMATION Consent Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN CONSENT STATEMENT SCHEDULE 14A INFORMATION Consent Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: o Preliminary Consent Statement o Confidential, for

July 2, 2025 DFAN14A

Edward Smolyansky and Ludmila Smolyansky File Definitive Consent Statement to Replace Entire Board of Lifeway Foods (NASDAQ: LWAY)

Edward Smolyansky and Ludmila Smolyansky File Definitive Consent Statement to Replace Entire Board of Lifeway Foods (NASDAQ: LWAY) CHICAGO, July 2, 2025 /PRNewswire/ — Edward and Ludmila Smolyansky, long-term shareholders of Lifeway Foods, Inc.

June 26, 2025 144

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144 0001554866 XXXXXXXX LIVE 0000814586 LIFEWAY FOODS INC. 001-42398 6431 West Oakton Morton Grove IL 60053 (847) 967-1010 JASON SCHER Director Common Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004 8200 198604.00 15203241 06/26/2025 NASDAQ Common 06/15/2020 Private Acquisition from Issuer/Affiliate Issuer N 1647 06/15/2020 Compensation Com

June 23, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 16, 2025 LIFEWAY FOODS, INC.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 16, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File

June 23, 2025 EX-10.1

Separation Agreement dated as of June 16, 2025, between the Company and Amy Feldman

Exhibit 10.1 SEPARATION AGREEMENT This Separation Agreement (the “Agreement”) is entered into between Amy Feldman (“you”) and Lifeway Foods, Inc. and its subsidiaries (collectively, “Lifeway” or the “Company”) on this 16 day of June, 2025. 1. Separation. Your employment with Lifeway terminated effective February 28, 2025 (the “Separation Date”) and you and Lifeway agree that the termination of you

June 4, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 4, 2025 LIFEWAY FOODS, INC.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 4, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File N

June 4, 2025 EX-99.1

Lifeway Foods Expands Retail Footprint with Thousands of New Lifeway Kefir and Farmer Cheese Placements Across Major U.S. Retailers in 2025 Company has surpassed $37.6 million in net sales for the first two months of the second quarter, from April 1,

Exhibit 99.1 Lifeway Foods Expands Retail Footprint with Thousands of New Lifeway Kefir and Farmer Cheese Placements Across Major U.S. Retailers in 2025 Company has surpassed $37.6 million in net sales for the first two months of the second quarter, from April 1, 2025 through May 31, 2025, representing a 10.7% increase from the prior year Year-to-date net sales for the Company have reached $83.7 m

June 2, 2025 DFAN14A

Edward Smolyansky Announces Campaign Updates, Files Revised Preliminary Consent Statement to Remove and Replace Lifeway Foods’ Directors

Edward Smolyansky Announces Campaign Updates, Files Revised Preliminary Consent Statement to Remove and Replace Lifeway Foods’ Directors CHICAGO, June 2, 2025 /PRNewswire/ — Edward and Ludmila Smolyansky, beneficial owners of approximately 27% of Lifeway Foods (NASDAQ: LWAY), today issued a statement expressing serious concerns about the company’s Q1 2025 performance and what they describe as the Board’s ongoing pattern of poor governance and misaligned priorities.

June 2, 2025 PRRN14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN CONSENT STATEMENT SCHEDULE 14A INFORMATION Consent Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN CONSENT STATEMENT SCHEDULE 14A INFORMATION Consent Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. 1) Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: x Preliminary Consent Statement o

May 13, 2025 EX-99.1

Press release dated May 13, 2025 reporting Lifeway’s financial results for the three months ended March 31, 2025

EXHIBIT 99.1 Lifeway Foods EPS Increases 44% Year-Over-Year as Kefir Company Announces Results for the First Quarter Ended March 31, 2025 Net sales of $46.1 million; up 3.3% year-over-year Consumer demand for probiotic Lifeway products drives 22nd consecutive quarter of year-over-year sales growth Morton Grove, IL — May 13, 2025 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a

May 13, 2025 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2025 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-42398 LIFEWAY FOODS, INC.

May 5, 2025 EX-1

Exhibit 1

Exhibit 1 Edward Smolyansky Rebukes Lifeway Foods (NASDAQ: LWAY) 2024 Amended 10-K Filing CHICAGO, May 2, 2025 /PRNewswire/ — Edward Smolyansky, who together with Ludmila Smolyansky, beneficially own approximately 27% of outstanding shares of Lifeway Foods common stock, today issued the following statement in response to Lifeway's amended 2024 Annual Report and its latest disclosures on executive and director compensation.

May 5, 2025 DFAN14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)

April 30, 2025 EX-99.1

Lifeway Foods® Announces Record Week Surpassing $5 Million in Gross Sales Propelled by Strong Demand for Lifeway Kefir and Lifeway Farmer Cheese Company to Report First Quarter 2025 Results on May 13, 2025

Exhibit 99.1 Lifeway Foods® Announces Record Week Surpassing $5 Million in Gross Sales Propelled by Strong Demand for Lifeway Kefir and Lifeway Farmer Cheese Company to Report First Quarter 2025 Results on May 13, 2025 Morton Grove, IL — April 29, 2025 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a leading U.S. supplier of kefir and fermented probiotic products to support the

April 30, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 29, 2025 LIFEWAY FOODS, INC

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 29, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File

April 29, 2025 10-K/A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K/A Amendment No. 1 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K/A Amendment No. 1 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number:

April 16, 2025 PREC14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Ame

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. 1) Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: x Preliminary Proxy Statement o Confid

March 28, 2025 PREC14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: x Preliminary Proxy Statement o Confidential, for Use of

March 24, 2025 DEFA14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Defin

March 24, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 24, 2025 LIFEWAY FOODS, INC

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 24, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File Num

March 24, 2025 EX-99.1

After Reporting Record Full Year 2024 Earnings and 22nd Consecutive Quarter of Growth, Lifeway Foods Issues Statement on Edward Smolyansky’s Director Nomination Notice Lifeway notes that Edward Smolyansky was previously terminated for cause as an off

LIFEWAY FOODS, INC. 8-K Exhibit 99.1 After Reporting Record Full Year 2024 Earnings and 22nd Consecutive Quarter of Growth, Lifeway Foods Issues Statement on Edward Smolyansky’s Director Nomination Notice Lifeway notes that Edward Smolyansky was previously terminated for cause as an officer of the company MORTON GROVE, Ill., March 24, 2025 — Lifeway Foods, Inc. (NASDAQ: LWAY) (“Lifeway” or the “Co

March 24, 2025 EX-99.1

After Reporting Record Full Year 2024 Earnings and 22nd Consecutive Quarter of Growth, Lifeway Foods Issues Statement on Edward Smolyansky’s Director Nomination Notice Lifeway notes that Edward Smolyansky was previously terminated for cause as an off

LIFEWAY FOODS, INC. 8-K Exhibit 99.1 After Reporting Record Full Year 2024 Earnings and 22nd Consecutive Quarter of Growth, Lifeway Foods Issues Statement on Edward Smolyansky’s Director Nomination Notice Lifeway notes that Edward Smolyansky was previously terminated for cause as an officer of the company MORTON GROVE, Ill., March 24, 2025 — Lifeway Foods, Inc. (NASDAQ: LWAY) (“Lifeway” or the “Co

March 17, 2025 EX-1

Exhibit 1

Exhibit 1 Edward Smolyansky 1219 N Wells St Chicago, IL 60610 March 17, 2025 Dear Shareholders, Together, Ludmila Smolyansky and I are the largest shareholders of Lifeway Foods, Inc.

March 17, 2025 EX-2

Exhibit 2

Exhibit 2 For Immediate Release Edward Smolyansky Launches Formal Campaign to Replace Lifeway Foods, Inc (LWAY) CEO and All Directors CHICAGO, March17, 2025 /PRNewswire/ - Edward Smolyansky, who, together with Ludmila Smolyansky, beneficially owns 4,163,141 shares of common stock, today launched a formal campaign to stop the further eroding of value taking place at Lifeway Foods, Inc (NASDAQ: LWAY) by submitting and filing a Notice regarding Planned Nominees for election at the upcoming 2025 Annual Meeting.

March 17, 2025 DFAN14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)

March 14, 2025 EX-97

Lifeway Foods, Inc. Incentive Compensation Clawback Policy

Exhibit 97 Lifeway Foods, Inc. Incentive Compensation Clawback Policy As adopted by the Board of Directors, effective November 9, 2023 Introduction Pursuant to the requirements of Section 10D of the Securities Exchange Act of 1934, as amended, and Rule 10D-1 promulgated thereunder (collectively, “Section 10D”), the Board of Directors (the “Board”) of Lifeway Foods, Inc. (“Lifeway” or the “Company”

March 14, 2025 EX-99.1

Press release dated March 14, 2025 reporting the Company’s financial results for year ended December 31, 2024

Exhibit 99.1 Lifeway Foods® Announces Strong Fourth Quarter and Record-Breaking Full Year 2024 Results Company achieves 2024 net sales of $186.8 million; up 17% year-over-year 21st consecutive quarter of year-over-year growth Growing consumer interest in probiotic foods with bioavailable nutrients continues to drive strong demand for Lifeway products Morton Grove, IL — March 14, 2025 — Lifeway Foo

March 14, 2025 10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTI

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-17363 LIFEWAY

March 14, 2025 EX-19.1

Lifeway Foods, Inc. Policy on Insider Trading

Exhibit 19.1 Lifeway Foods, INC. Policy on Insider Trading As adopted by the Board of Directors On August 12, 2024 This Insider Trading Policy describes the standards of Lifeway Foods and its subsidiaries (the “Company”) regarding trading in the stock and other securities of the Company while in possession of certain confidential information. This Policy is divided into three parts: Part I provide

March 14, 2025 EX-4.1

Description of Securities

Exhibit 4.1 DESCRIPTION OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 Lifeway Foods, Inc. (“Lifeway,” “we,” “us” or “our”) has two classes of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our common stock, no par value (“Common Stock”), and the rights (each, a “Right” and, co

March 6, 2025 8-K

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 28, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission F

March 5, 2025 EX-99.1

LIFEWAY FOODS STATEMENT REGARDING DANONE’S LATEST ACTIONS, CONTINUING DANONE’S HISTORY AS A TOXIC BUSINESS PARTNER

Exhibit 99.1 LIFEWAY FOODS STATEMENT REGARDING DANONE’S LATEST ACTIONS, CONTINUING DANONE’S HISTORY AS A TOXIC BUSINESS PARTNER MORTON GROVE, Ill., March 4, 2025- Lifeway Foods, Inc. (NASDAQ: LWAY) ("Lifeway" or the "Company"), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, issued the following statement regarding most recent predatory actions by Danon

March 5, 2025 8-K

Financial Statements and Exhibits, Results of Operations and Financial Condition

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 4, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File

February 14, 2025 EX-99.1

February 14, 2025

Exhibit 99.1 Timothy R. Lavender Kelley Drye & Warren LLP 333 West Wacker Drive Suite 2600 Chicago, IL 60606 Tel: (312) 857-2630 Fax:: (312) 857-7095 [email protected] February 14, 2025 Via E-Mail [email protected] Mr. Nicholas Callahan Barack Ferrazzano Kirschbaum & Nagelberg LLP 200 West Madison Street, Suite 3900 Chicago, IL 60606 Re: Edward Smolyansky and Ludmila Smolyansky Dear Mr

February 14, 2025 8-K

Regulation FD Disclosure, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 14, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission F

February 11, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 11, 2025 LIFEWAY FOODS,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 11, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission F

February 11, 2025 EX-99.1

LIFEWAY FOODS EXPECTS TO REALIZE $5 MILLION NET GAIN FROM SALE OF SIMPLE FOODS TO FLOWERS FOODS

Exhibit 99.1 LIFEWAY FOODS EXPECTS TO REALIZE $5 MILLION NET GAIN FROM SALE OF SIMPLE FOODS TO FLOWERS FOODS Gain comes as a result of early investment in Simple Mills made by Lifeway in 2015 MORTON GROVE, Ill., February 11, 2025- Lifeway Foods, Inc. (NASDAQ: LWAY) ("Lifeway" or the "Company"), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, expects to

February 7, 2025 8-K

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 5, 2025 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fi

February 7, 2025 EX-10.1

Fifth Modification to Amended and Restated Loan and Security Agreement dated as of February 5, 2025, by and among Lifeway Foods, Inc., Fresh Made, Inc., Lifeway Wisconsin, Inc., and CIBC Bank USA, as Lender.

Exhibit 10.1 FIFTH MODIFICATION TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT This Fifth Modification to Amended and Restated Loan and Security Agreement (this “Amendment”) is entered into effective as of February 5, 2025 (the “Effective Date”) by and among CIBC BANK USA, (the “Lender”), LIFEWAY FOODS, INC., an Illinois corporation (“Lifeway”), FRESH MADE, INC., a Pennsylvania corporation (“

February 6, 2025 EX-99

Edward and Ludmila Smolyansky Request Lifeway Foods Inc. NASDAQ (

Exhibit 99.1 Edward and Ludmila Smolyansky Request Lifeway Foods Inc. NASDAQ (LWAY) CEO Julie Smolyansky Immediately Withdraws Her Lawsuit Against Edward Smolyansky. Reiterate and Reaffirm Singular Goal Amid Ongoing Activism Battle ● Summarizes recent filings and next steps, previews upcoming proxy schedule ● Reaffirms and updates previously stated goal CHICAGO, Jan. 3, 2025 /PRNewswire/ - Edward

January 6, 2025 EX-99.1

January 6, 2025

LIFEWAY FOODS, INC. 8-K Exhibit 99.1 Sidley Austin LLP One South Dearborn Street Chicago, IL 60603 +1 312 853 7000 +1 312 853 7036 Fax +1 312 853 7621 [email protected] January 6, 2025 By email Mr. Shane Grant Danone Deputy CEO President & CEO of Danone North America PBC CEO Americas and EVP Dairy, Plant-Based and Global Sales 1 Maple Avenue White Plains, NY 10605 Re: Danone’s Letter Dated Decem

January 6, 2025 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 6, 2025 LIFEWAY FOODS, IN

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 6, 2025 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File Nu

December 30, 2024 EX-99.1

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December 23, 2024 EX-10.2

Retention Bonus Agreement, dated as of December 23, 2024, by and between the Company and Julie Smolyansky

Exhibit 10.2 LIFEWAY FOODS, INC. RETENTION BONUS AGREEMENT This Retention Bonus Agreement (this "Agreement") is made and entered into effective as of December 23, 2024 (the "Effective Date"), by and between Julie Smolyansky ("Executive") and Lifeway Foods, Inc., an Illinois corporation (the "Company"). The Board of Directors of the Company (the "Board") recognizes Executive's contributions to the

December 23, 2024 8-K

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 23, 2024 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission F

December 23, 2024 EX-10.1

Amended and Restated Employment Agreement, dated as of December 23, 2024, by and between the Company and Julie Smolyansky

Exhibit 10.1 AMENDED AND RESTATED EMPLOYMENT AGREEMENT THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of the 23rd day of December, 2024, effective as of the 23rd day of December, 2024 by and between Lifeway Foods, Inc., an Illinois corporation, 6431 West Oakton, Morton Grove, Illinois 60053 (the “Company”), and Julie Smolyansky, residing in Chicago, Il

November 26, 2024 EX-99.2

November 25, 2024

LIFEWAY FOODS, INC. 8-K Exhibit 99.2 Sidley Austin LLP One South Dearborn Street Chicago, IL 60603 +1 312 853 7000 +1 312 853 7036 Fax +1 312 853 7621 [email protected] November 25, 2024 By email Mr. Ryan A. McLeod Wachtell, Lipton, Rosen & Katz 51 West 52nd Street New York, New York 10019 Re: Danone’s Response to November 8, 2024 Letter Concerning Proposed Acquisition of Lifeway Foods, Inc. and

November 26, 2024 8-K

Regulation FD Disclosure, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 26, 2024 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File

November 26, 2024 EX-99.1

Lifeway Provides Additional Information Regarding Reasons for Rejecting Danone’s Revised Proposal

LIFEWAY FOODS, INC. 8-K Exhibit 99.1 Lifeway Provides Additional Information Regarding Reasons for Rejecting Danone’s Revised Proposal MORTON GROVE, Ill. — November 26, 2024 — Lifeway Foods, Inc. (NASDAQ: LWAY) (the “Company” or “Lifeway”), the leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today provided additional information regarding the reasons that

November 20, 2024 EX-99.3

November 8, 2024

Lifeway Foods, Inc. 8-K Exhibit 99.3 Sidley Austin LLP One South Dearborn Street Chicago, IL 60603 +1 312 853 7000 +1 312 853 7036 Fax November 8, 2024 By email Mr. Josh Cammaker Wachtell, Lipton, Rosen & Katz 51 West 52nd Street New York, New York 10019 Re: September 23, 2024 Letter Concerning Proposed Acquisition of Lifeway Foods, Inc. and Stockholders’ Agreement Dear Mr. Cammaker: I am writing

November 20, 2024 8-K

Regulation FD Disclosure, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 20, 2024 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File

November 20, 2024 8-K/A

Regulation FD Disclosure, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 20, 2024 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission Fil

November 20, 2024 EX-99.2

November 8, 2024

LIFEWAY FOODS, INC. 8-K/A Exhibit 99.2 November 8, 2024 Mr. Shane Grant Danone Deputy CEO President & CEO of Danone North America PBC CEO Americas and EVP Dairy, Plant-Based and Global Sales 1 Maple Avenue White Plains, New York 10605 Re: September 23, 2024 Proposed Acquisition of Lifeway Foods, Inc. and Stockholders’ Agreement Dear Shane: I am writing on behalf of the Board of Directors of Lifewa

November 20, 2024 EX-99.3

November 8, 2024

LIFEWAY FOODS, INC. 8-K/A Exhibit 99.3 Sidley Austin LLP One South Dearborn Street Chicago, IL 60603 +1 312 853 7000 +1 312 853 7036 Fax November 8, 2024 By email Mr. Josh Cammaker Wachtell, Lipton, Rosen & Katz 51 West 52nd Street New York, New York 10019 Re: September 23, 2024 Letter Concerning Proposed Acquisition of Lifeway Foods, Inc. and Stockholders’ Agreement Dear Mr. Cammaker: I am writin

November 20, 2024 EX-99.2

November 8, 2024

Lifeway Foods, Inc. 8-K Exhibit 99.2 November 8, 2024 Mr. Shane Grant Danone Deputy CEO President & CEO of Danone North America PBC CEO Americas and EVP Dairy, Plant-Based and Global Sales 1 Maple Avenue White Plains, New York 10605 Re: September 23, 2024 Proposed Acquisition of Lifeway Foods, Inc. and Stockholders’ Agreement Dear Shane: I am writing on behalf of the Board of Directors of Lifeway

November 20, 2024 EX-99.1

Lifeway Foods Rejects Revised Unsolicited Proposal from Danone

LIFEWAY FOODS, INC. 8-K/A Exhibit 99.1 Lifeway Foods Rejects Revised Unsolicited Proposal from Danone MORTON GROVE, Ill. — November 20, 2024 — Lifeway Foods, Inc. (NASDAQ: LWAY) (the “Company”), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that its Board of Directors has rejected the revised unsolicited proposal made on November 15, 2

November 20, 2024 EX-99.1

Lifeway Foods Rejects Revised Unsolicited Proposal from Danone

Lifeway Foods, Inc. 8-K Exhibit 99.1 Lifeway Foods Rejects Revised Unsolicited Proposal from Danone MORTON GROVE, Ill. — November 19, 2024 — Lifeway Foods, Inc. (NASDAQ: LWAY) (the “Company”), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that its Board of Directors has rejected the revised unsolicited proposal made on November 15, 202

November 15, 2024 EX-99.1

Letter from Danone’s Counsel to the Issuer’s Counsel, dated as of November 15, 2024

EX-99.1 2 d860643dex991.htm EX-99.1 Exhibit 99.1 MARTIN LIPTON HERBERT M. WACHTELL EDWARD D. HERLIHY DANIEL A. NEFF STEVEN A. ROSENBLUM JOHN F. SAVARESE SCOTT K. CHARLES JODI J. SCHWARTZ ADAM O. EMMERICH RALPH M. LEVENE RICHARD G. MASON ROBIN PANOVKA DAVID A. KATZ ILENE KNABLE GOTTS ANDREW J. NUSSBAUM RACHELLE SILVERBERG STEVEN A. COHEN DEBORAH L. PAUL DAVID C. KARP RICHARD K. KIM JOSHUA R. CAMMAK

November 15, 2024 SC 13D/A

LWAY / Lifeway Foods, Inc. / Danone S.A. - SC 13D/A Activist Investment

SC 13D/A 1 d860643dsc13da.htm SC 13D/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 6)* LIFEWAY FOODS, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 531914109 (CUSIP Number) Samantha Loh Danone S.A. 17 boulevard Haussmann 75009 Paris, France Tel: +33 1 44 35 20 20 Nancy Dowling Danone North Ameri

November 15, 2024 SC 13D/A

LWAY / Lifeway Foods, Inc. / Danone S.A. - SC 13D/A Activist Investment

SC 13D/A 1 d880074dsc13da.htm SC 13D/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 5)* LIFEWAY FOODS, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 531914109 (CUSIP Number) Samantha Loh Danone S.A. 17 boulevard Haussmann 75009 Paris, France Tel: +33 1 44 35 20 20 Nancy Dowling Danone North Ameri

November 15, 2024 EX-99.1

Letter to the Issuer, dated as of November 15, 2024

EX-99.1 2 d880074dex991.htm EX-99.1 Exhibit 99.1 Julie Smolyansky Chairperson of the Board, President and Chief Executive Officer Lifeway Foods, Inc. 6431 West Oakton St. Morton Grove, IL 60053 United States of America November 15, 2024 Strictly Private & Confidential Update on our Proposed Acquisition of Lifeway Foods, Inc. Dear Julie, I wanted to follow up on Danone’s Proposal dated September 23

November 14, 2024 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2024 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-17363 LIFEWAY FOODS, INC.

November 14, 2024 EX-3.1

Certificate of Designations of Series A Junior Participating Preferred Stock of Lifeway Foods, Inc., effective as of November 4, 2024

Exhibit 3.1 FORM OF CERTIFICATE OF DESIGNATIONS OF SERIES A JUNIOR PARTICIPATING PREFERRED STOCK OF LIFEWAY FOODS, INC. Pursuant to Section 6.10 of the Illinois Business Corporation Act The undersigned hereby certifies that, in accordance with Section 6.10 of the Illinois Business Corporation Act, as amended (the “IBCA”), the board of directors (the “Board”) of Lifeway Foods, Inc., an Illinois cor

November 14, 2024 EX-99.1

Press release dated November 14, 2024 reporting Lifeway’s financial results for the three months ended September 30, 2024

EXHIBIT 99.1 Lifeway Foods® Announces Strong Results for the Third Quarter and Nine Months Ended September 30, 2024 Year-to-date net sales of $139.9 million; up 18.5% year-over-year Heightened interest in probiotic foods with bioavailable nutrients drives volume growth of Lifeway Kefir and Farmer Cheese 20th consecutive quarter of year-over-year growth Year-to-date gross profit margin increased to

November 5, 2024 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 4, 2024 LIFEWAY FOODS, I

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 4, 2024 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Charter) Illinois 000-17363 36-3442829 (State or Other Jurisdiction of Incorporation) (Commission File N

November 5, 2024 EX-4.1

Shareholder Rights Agreement, dated as of November 4, 2024, by and between Lifeway Foods, Inc. and Computershare Trust Company, N.A., as rights agent

LIFEWAY FOODS, INC. 8-A12B Exhibit 4.1 SHAREHOLDER RIGHTS AGREEMENT Lifeway Foods, Inc. and Computershare Trust Company, N.A., as Rights Agent Dated as of November 4, 2024 Table of Contents Page Section 1. Certain Definitions 1 Section 2. Appointment of Rights Agent 9 Section 3. Issuance of Rights Certificates 9 Section 4. Form of Rights Certificates 11 Section 5. Countersignature and Registration

November 5, 2024 8-A12B

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-A FOR REGISTRATION OF CERTAIN CLASSES OF SECURITIES PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) Illinois 36-3442829 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 643

November 5, 2024 EX-3.1

FORM OF CERTIFICATE OF DESIGNATIONS SERIES A JUNIOR PARTICIPATING PREFERRED STOCK LIFEWAY FOODS, INC. Pursuant to Section 6.10 of the Illinois Business Corporation Act

LIFEWAY FOODS, INC. 8-A12B Exhibit 3.1 FORM OF CERTIFICATE OF DESIGNATIONS OF SERIES A JUNIOR PARTICIPATING PREFERRED STOCK OF LIFEWAY FOODS, INC. Pursuant to Section 6.10 of the Illinois Business Corporation Act The undersigned hereby certifies that, in accordance with Section 6.10 of the Illinois Business Corporation Act, as amended (the “IBCA”), the board of directors (the “Board”) of Lifeway F

November 5, 2024 EX-99.1

Lifeway Foods Rejects Proposal from Danone and adopts limited duration shareholder rights plan

LIFEWAY FOODS, INC. 8-K Exhibit 99.1 Lifeway Foods Rejects Proposal from Danone and adopts limited duration shareholder rights plan MORTON GROVE, Ill., November 5, 2024 — Lifeway Foods, Inc. (NASDAQ: LWAY) (“Lifeway” or the “Company”), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that its Board of Directors (the “Board”) has rejected

September 23, 2024 EX-99.1

Schedule A Key Due Diligence requests

EX-99.1 2 d826089dex991.htm EX-99.1 Exhibit 99.1 Julie Smolyansky Chairperson of the Board, President and Chief Executive Officer Lifeway Foods, Inc. 6431 West Oakton St. Morton Grove, IL 60053 United States of America September 23, 2024 Strictly Private & Confidential Proposed Acquisition of Lifeway Foods, Inc. Dear Julie, As you are aware, Danone SA, through its wholly owned subsidiary Danone No

September 23, 2024 SC 13D/A

LWAY / Lifeway Foods, Inc. / Danone S.A. - SC 13D/A Activist Investment

SC 13D/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 4)* LIFEWAY FOODS, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 531914109 (CUSIP Number) Samantha Loh Danone S.A. 17 boulevard Haussmann 75009 Paris, France Tel: +33 1 44 35 20 20 Nancy Dowling Danone North America PBC 1 Maple Avenue White Pl

August 14, 2024 EX-99.2

Press Release issued August 13, 2024

EX-99.2 2 lifewayex9902.htm PRESS RELEASE Exhibit 99.2 FOR IMMEDIATE RELEASE: August 13, 2024 MEDIA CONTACT: Chloe Swicegood (850) 702-9800 [email protected] Edward and Ludmila Smolyansky File Consent Statement to Change Leadership at Lifeway Foods (NASDAQ: LWAY) CHICAGO, IL — Son and mother Edward and Ludmila Smolyansky, significant shareholders of Lifeway Foods, Inc. (NASDAQ: LWAY), today ann

August 14, 2024 SC 13D/A

LWAY / Lifeway Foods, Inc. / SMOLYANSKY EDWARD - AMENDMENT #20 TO FORM SC 13D Activist Investment

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.

August 13, 2024 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2024 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-17363 LIFEWAY FOODS, INC.

August 13, 2024 PREC14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN CONSENT STATEMENT SCHEDULE 14A INFORMATION Consent Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN CONSENT STATEMENT SCHEDULE 14A INFORMATION Consent Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: x Preliminary Consent Statement o Confidential, for

August 13, 2024 EX-10.1

First Amendment to the 2022 Non-Employee Director Equity and Deferred Compensation Plan

EXHIBIT 10.1 FIRST AMENDMENT TO THE LIFEWAY FOODS, INC. 2022 NON-EMPLOYEE DIRECTOR EQUITY AND DEFERRED COMPENSATION PLAN In accordance with Section 12.1 of the Lifeway Foods, Inc. 2022 Non-Employee Director Equity and Deferred Compensation Plan (the “Plan”), the Plan is hereby amended as follows: 1. Section 2.17 of the Plan is hereby amended to read in its entirety as follows: “ 2.17 “Deferred Ben

August 13, 2024 EX-99.1

Press release dated August 13, 2024 reporting Lifeway’s financial results for the three months ended June 30, 2024

Exhibit 99.1 Lifeway Foods® Announces Record Results for the Second Quarter Ended June 30, 2024 Demand for Bioavailable Foods like Kefir Soars Net sales of $49.2 million; up 25.3% year-over-year driven by volume growth of Lifeway Kefir 19th consecutive quarter of year-over-year growth Morton Grove, IL — August 13, 2024 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a leading U.

July 22, 2024 SC 13D/A

LWAY / Lifeway Foods, Inc. / SMOLYANSKY LUDMILA - AMENDMENT NO. 19 TO SCHEDULE 13D Activist Investment

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.

July 22, 2024 EX-99.1

Press Release issued July 18, 2024

Exhibit 99.1 Lifeway Foods, Inc. (NASDAQ: LWAY) Largest Shareholders, Ludmila and Edward Smolyansky, Demand Resignations of the Company’s CEO and Certain Directors · Seek Resignation of Lead Director Jason Scher, Directors Pol Sikar, Jody Levy, Dorri McWhorter and Perfecto Sanchez and CEO/Chairperson Julie Smolyansky · Seek Immediate Termination of Julie Smolyansky’s “Chief of Staff” and Spouse, J

June 18, 2024 8-K

Submission of Matters to a Vote of Security Holders

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 14, 2024 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File

May 14, 2024 EX-99.1

Press release dated May 14, 2024 reporting Lifeway’s financial results for the three months ended March 31, 2024

EXHIBIT 99.1 Lifeway Foods® Announces Record Results for the First Quarter Ended March 31, 2024 Net sales of $44.6 million; up 17.8% year-over-year driven by volume growth of Lifeway Kefir 18th consecutive quarter of year-over-year growth Delivers 410 basis points of gross profit margin expansion Morton Grove, IL — May 14, 2024 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a l

May 14, 2024 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-17363 LIFEWAY FOODS, INC.

April 30, 2024 DEFA14A

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy Statement ☑ Definit

April 29, 2024 DEF 14A

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☑ Definitive Proxy Statement ☐ Definit

April 26, 2024 SC 13D/A

LWAY / Lifeway Foods, Inc. / SMOLYANSKY EDWARD - AMENDMENT NO. 18 TO SCHEDULE 13D Activist Investment

SC 13D/A 1 lifewaysc13da18.htm AMENDMENT NO. 18 TO SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 18)* LIFEWAY FOODS, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 531914109 (CUSIP Number) Edward Smolyansky 1219 N Wells St Chicago, IL 60610 (847) 967-1010 (Name, Address and

March 27, 2024 144

144

144 0001742145 XXXXXXXX LIVE 0000814586 Lifeway Foods, Inc. 000-17363 6431 W OAKTON MORTON GROVE IL 60053 847-967-1010 Hanson Eric A Officer Common Vanguard Marketing Corporation 5951 Luckett Court Suite A1 El Paso TX 79932 20000 382000.00 14690987 03/27/2024 Nasdaq Common 12/15/2017 Employee Compensation Awards Lifeway Foods, Inc N 500 12/15/2017 Employee Services Common 03/28/2018 Employee Compe

March 25, 2024 144

144

144 0001227848 XXXXXXXX LIVE 0000814586 Lifeway Foods, Inc. 000-17363 6431 W OAKTON MORTON GROVE NY 60053 847-967-1010 SMOLYANSKY LUDMILA 10% Stockholder COMMON RBC CAPITAL MARKETS LLC Suite 1700 Minneapolis MN 55401 140000 2452800.00 14690987 03/25/2024 NASDAQ COMMON 01/01/2002 SHARE INHERITANCE ISSUER N 140000 01/01/2002 N/A N LUDMILLA SMOLYANSKY C/O LIFEWAY FOODS 6431 W OAKTON MORTON GROVE IL 6

March 20, 2024 EX-21

List of Subsidiaries of the Registrant

Exhibit 21 Subsidiaries of Lifeway Foods, Inc. Below is a list of the subsidiaries of Lifeway Foods, Inc. All of the voting stock of each subsidiary is 100% owned directly by Lifeway Foods, Inc. Name of Subsidiary Jurisdiction of Incorporation or Organization Lifeway Wisconsin, Inc. Illinois Fresh Made, Inc. Pennsylvania Lifeway Foods Europe Limited Ireland

March 20, 2024 EX-99.1

Press release dated March 20, 2024 reporting the Company’s financial results for year ended December 31, 2023.

Exhibit 99.1 Lifeway Foods® Announces Record-Breaking Fourth Quarter and Monumental Full Year 2023 Results Record annual net sales of $160.1 million; up 13.1% year-over-year 17th consecutive quarter of year-over-year growth Delivers 760 basis points of annual gross profit margin expansion Morton Grove, IL — March 20, 2024 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a leading

March 20, 2024 10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTI

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-17363 LIFEWAY

November 13, 2023 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-17363 LIFEWAY FOODS, INC.

November 13, 2023 EX-99.1

Press release dated November 13, 2023 reporting Lifeway’s financial results for the three months ended September 30, 2023

EXHIBIT 99.1 Lifeway Foods® Announces Record Results for the Third Quarter Ended September 30, 2023 Net sales increase 7.2% year-over-year to $40.9 million; 16th consecutive quarter of year-over-year net sales growth 730 basis points of year-over-year gross profit margin expansion Morton Grove, IL — November 13, 2023 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a leading U.S.

October 31, 2023 SC 13D/A

LWAY / Lifeway Foods, Inc. / SMOLYANSKY EDWARD - SCHEDULE 13D AMENDMENT 17 Activist Investment

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.

August 14, 2023 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2023 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-17363 LIFEWAY FOODS, INC.

August 14, 2023 EX-10.1

Early Opt-in Election and Related Amendment to Loan Documents

EXHIBIT 10.1 EARLY OPT-IN ELECTION AND RELATED AMENDMENT TO LOAN DOCUMENTS This SOFR Election is entered into as of June 26, 2023 but shall be deemed effective as of June 26, 2023 (the “Opt-In Date”) by CIBC BANK USA (together with its successors and assigns, “Lender”), and LIFEWAY FOODS, INC., an Illinois corporation (“Lifeway”), FRESH MADE, INC., a Pennsylvania corporation (“FMI”), THE LIFEWAY K

August 14, 2023 EX-99.1

Press release dated August 14, 2023 reporting Lifeway’s financial results for the three months ended June 30, 2023*

Exhibit 99.1 Lifeway Foods® Announces Record Results for the Second Quarter Ended June 30, 2023 Net sales increase 17.1% year-over-year to $39.2 million; up 34.5% compared to 2021 Delivers 15th straight quarter of year-over-year net sales growth and 1,170 basis points of year-over-year gross profit margin improvement Morton Grove, IL — August 14, 2023 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway

August 11, 2023 8-K

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 10, 2023 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fil

June 16, 2023 8-K

Financial Statements and Exhibits, Other Events, Submission of Matters to a Vote of Security Holders

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 15, 2023 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File

June 16, 2023 EX-99.2

Lifeway Foods® Announces Annual Meeting Results and Provides Update to Shareholders All Eight Company Director Nominees Elected to Board Company Announces Latest Step in Ongoing Review of Strategic Alternatives with Hiring of Kroll Securities, LLC as

Exhibit 99.1 Lifeway Foods® Announces Annual Meeting Results and Provides Update to Shareholders All Eight Company Director Nominees Elected to Board Company Announces Latest Step in Ongoing Review of Strategic Alternatives with Hiring of Kroll Securities, LLC as Financial Advisor Responds to Letter from Kanen Wealth Management and Highlights Positive Business Momentum MORTON GROVE, Ill., June 16,

June 2, 2023 CORRESP

June 2, 2023

June 2, 2023 Perry Hindin, Special Counsel Division of Corporation Finance Office of Mergers & Acquisitions Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: Lifeway Foods, Inc.

June 2, 2023 DEFA14A

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Definitive Proxy Statement ☑ Definit

May 24, 2023 S-8

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-8 REGISTRATION STATEMENT THE SECURITIES ACT OF 1933 LIFEWAY FOODS, INC. (Exact Name of Registrant as Specified in Its Charter)

As filed with the Securities and Exchange Commission on May 24, 2023 Registration No.

May 24, 2023 EX-FILING FEES

Filing Fee Table

Exhibit 107 Calculation of Filing Fee Table Form S-8 (Form Type) Lifeway Foods, Inc.

May 22, 2023 EX-17.1

Letter from Ludmila Smolyansky.

Exhibit 17.1 May 18th, 2023 MS. JULIE SMOLYANSKY, CHAIRPERSON, PRESIDENT, CEO AND SECRETARY LIFEWAY FOODS INC. 6431 W. OAKTON ST. MORTON GROVE, IL 60053 BY CONFIDENTIAL FAX WITH HARD COPY TO FOLLOW BY FEDEX RE: Resignation Effective May 18, 2023 Dear Julie: Please consider this my notice of resignation from the Board of Directors of Lifeway Foods, Inc. (the “Company”), effective May 17, 2023. I ha

May 22, 2023 8-K

Form 8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 16, 2023 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File N

May 19, 2023 DEFC14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of

May 19, 2023 SC 13D/A

LWAY / Lifeway Foods, Inc. / SMOLYANSKY EDWARD - SCHEDULE 13D AMENDMENT 16 Activist Investment

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.

May 15, 2023 LETTER

LETTER

United States securities and exchange commission logo May 15, 2023 Edward Smolyansky Shareholder Shareholder Nominees 1219 N Wells Street Chicago, IL 60610 Re: Lifeway Foods, Inc.

May 15, 2023 LETTER

LETTER

United States securities and exchange commission logo May 15, 2023 Eric Hansen Chief Financial Officer Lifeway Foods, Inc.

May 15, 2023 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2023 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-17363 LIFEWAY FOODS, INC.

May 15, 2023 EX-99.1

Press release dated May 15, 2023 reporting Lifeway’s financial results for the three months ended March 31, 2023

Exhibit 99.1 Lifeway Foods® Announces Results for the First Quarter Ended March 31, 2023 Net sales increase 11.2% year-over-year to $37.9 million; up 29.0% compared to 2021 Delivers 14th straight quarter of year-over-year net sales growth Morton Grove, IL — May 15, 2023 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a leading U.S. supplier of kefir and fermented probiotic produ

May 9, 2023 PREC14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant o Filed by a Party other than the Registrant x Check the appropriate box: x Preliminary Proxy Statement o Confidential, for Use of

April 28, 2023 DEF 14A

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ☑ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☑ Definitive Proxy Statement ☐ Definit

March 27, 2023 EX-10.29

Restricted Stock Unit Award Agreement, dated as of April 27, 2022, by and between the Company and Jason Scher

Exhibit 10.29 RESTRICTED STOCK UNIT AGREEMENT LIFEWAY FOODS, INC. This Agreement is made as of April 27, 2022 and is by and between Lifeway Foods, Inc., an Illinois corporation (the “Company”) and Jason Scher (“Director”), a non-employee director. Restricted Stock Units 1. Grant Date. After compensation to the board of directors (the “Board”) on August 12, 2021 was approved by the Board, the Compa

March 27, 2023 8-K

Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 24, 2023 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File

March 27, 2023 EX-3.1

Second Amended and Restated Bylaws

Exhibit 3.1 SECOND AMENDED AND RESTATED BY-LAWS OF LIFEWAY FOODS, INC. These Amended and Restated Bylaws (the “Bylaws”) are hereby amended and restated as of this 24th day of March 2023, by the Board of Directors of Lifeway Foods, Inc. (the “Board”). RECITALS WHEREAS, Lifeway Foods, Inc. has heretofore been formed as a corporation under the Illinois Business Corporation Act of 1983 (805 ILCS § 5/1

March 27, 2023 EX-3.1

Amendment to Amended and Restated Bylaws of the Company, dated March 24, 2023.

Exhibit 3.1 SECOND AMENDED AND RESTATED BY-LAWS OF LIFEWAY FOODS, INC. These Amended and Restated Bylaws (the “Bylaws”) are hereby amended and restated as of this 24th day of March 2023, by the Board of Directors of Lifeway Foods, Inc. (the “Board”). RECITALS WHEREAS, Lifeway Foods, Inc. has heretofore been formed as a corporation under the Illinois Business Corporation Act of 1983 (805 ILCS § 5/1

March 27, 2023 10-K

Form 10-K

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-17363 LIFEWAY

March 27, 2023 EX-99.1

Press release dated March 27, 2023 reporting the Company’s financial results for year ended December 31, 2022.

Exhibit 99.1 Lifeway Foods® Announces Results for the Fourth Quarter and Record Full Year Ended December 31, 2022 Record annual net sales of $141.5 million, up 18.9% year-over-year and 51.1% compared to 2019 Delivers 13th straight quarter of year-over-year net sales growth Morton Grove, IL — March 27, 2023 — Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a leading U.S. supplier o

March 27, 2023 EX-10.20

Amendment to Settlement Agreement dated as of July 27, 2022, between the Company and Edward Smolyansky and Ludmila Smolyansky

Exhibit 10.20 Amendment to Settlement Agreement This Amendment to the Settlement Agreement, dated November 7, 2022 (including all exhibits hereto, this “Amendment”), is by and among Lifeway Foods, Inc. (the “Company”) on the one hand and Edward Smolyansky (“Mr. Smolyansky”) and Ludmila Smolyansky (“Mrs. Smolyansky” and, together with Mr. Smolyansky, the “Shareholders”) on the other hand (each, a “

March 27, 2023 EX-21

List of Subsidiaries of the Registrant

Exhibit 21 Subsidiaries of Lifeway Foods, Inc. Below is a list of the subsidiaries of Lifeway Foods, Inc. All of the voting stock of each subsidiary is 100% owned directly by Lifeway Foods, Inc. Name of Subsidiary Jurisdiction of Incorporation or Organization Lifeway Wisconsin, Inc. Illinois The Lifeway Kefir Shop, LLC Illinois Fresh Made, Inc. Pennsylvania Lifeway Foods Europe Limited Ireland

February 24, 2023 EX-99.1

JOINT FILING AGREEMENT

Exhibit 99.1 JOINT FILING AGREEMENT The undersigned hereby agree that the statement on Schedule 13D with respect to the shares of common stock of Lifeway Foods, Inc. is, and any amendment thereto signed by each of the undersigned shall be, filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) promulgated under the Securities Exchange Act of 1

February 24, 2023 SC 13D/A

LWAY / Lifeway Foods, Inc. / SMOLYANSKY LUDMILA - SC 13D/A Activist Investment

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No.

February 10, 2023 SC 13D/A

LWAY / Lifeway Foods, Inc. / SMOLYANSKY JULIE - SCHEDULE 13D AMENDMENT 10 Activist Investment

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A (Amendment No. 10) Under the Securities Exchange Act of 1934* LIFEWAY FOODS, INC. (Name of Issuer) Common Stock, no par value (Title of Class of Securities) 531914109 (CUSIP Number) Julie Smolyansky Chief Executive Officer, President and Secretary Lifeway Foods, Inc. 6431 Oakton Street Morton Grove, IL 60053 (84

February 8, 2023 8-K

Financial Statements and Exhibits, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 8, 2023 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fi

December 7, 2022 8-K

Changes in Registrant's Certifying Accountant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 6, 2022 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fi

December 1, 2022 SC 13D/A

LWAY / Lifeway Foods, Inc. / SMOLYANSKY LUDMILA - AMENDMENT TO FORM SC 13D Activist Investment

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No.

November 14, 2022 EX-10.8

Form of Notice of Performance-Based Restricted Stock Unit Award under the 2022 Omnibus Incentive Plan

EXHIBIT 10.8 NOTICE OF PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD under the LIFEWAY FOODS, INC. 2022 OMNIBUS INCENTIVE PLAN This AWARD, made as of the day of , 20, by Lifeway Foods, Inc., an Illinois corporation (the “Company”), to (“Participant”), is made pursuant to and subject to the provisions of the Lifeway Foods, Inc. 2022 Omnibus Incentive Plan (the “Plan”). All terms that are used herei

November 14, 2022 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2022 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-17363 LIFEWAY FOODS, INC.

November 14, 2022 EX-10.6

Form of Notice of Restricted Stock Unit Award under the Lifeway Foods, Inc. 2022 Non-Employee Director Equity and Deferred Compensation Plan

EXHIBIT 10.6 NOTICE OF RESTRICTED STOCK UNIT AWARD under the LIFEWAY FOODS, INC. 2022 NON-EMPLOYEE DIRECTOR EQUITY AND DEFERRED COMPENSATION PLAN This AWARD, made as of the day of , 20, by Lifeway Foods, Inc., an Illinois corporation (the “Company”), to (“Director”), is made pursuant to and subject to the provisions of the Lifeway Foods, Inc. 2022 Non-Employee Director Equity and Deferred Compensa

November 14, 2022 EX-99.1

Press release dated November 14, 2022 reporting Lifeway’s financial results for the nine months ended September 30, 2022.*

EXHIBIT 99.1 Lifeway Foods, Inc. Announces Record Results for the Third Quarter Ended September 30, 2022 Net sales increase 29.1% year-over-year to $38.1 million; up 46.5% compared to 2020 Delivers 12th straight quarter of year-over-year net sales growth Morton Grove, IL — November 14, 2022— Lifeway Foods, Inc. (Nasdaq: LWAY) (“Lifeway” or “the Company”), a leading U.S. supplier of kefir and ferme

November 14, 2022 EX-10.7

Form of Notice of Restricted Stock Unit Award under the Lifeway Foods, Inc. 2022 Omnibus Incentive Plan

EXHIBIT 10.7 NOTICE OF RESTRICTED STOCK UNIT AWARD under the LIFEWAY FOODS, INC. 2022 OMNIBUS INCENTIVE PLAN This AWARD, made as of the day of , 20, by Lifeway Foods, Inc., an Illinois corporation (the “Company”), to (“Participant”), is made pursuant to and subject to the provisions of the Lifeway Foods, Inc. 2022 Omnibus Incentive Plan (the “Plan”). All terms that are used herein that are defined

November 9, 2022 EX-10.1

Stock Purchase Agreement dated as of November 7, 2022, between the Company and Ludmila Smolyansky.

Exhibit 10.1 Common Stock Purchase Agreement This Common Stock Purchase Agreement (the ?Agreement?) is made and entered into as of November 7, 2022, by and between Ludmila Smolyansky (?Seller?) and Lifeway Foods, Inc., an Illinois corporation (the ?Company?). Recitals A. Seller, together with her affiliate the Ludmila Smolyansky Trust 2/1/05 (the ?Trust?), are the sole beneficial and record owners

November 9, 2022 8-K

Entry into a Material Definitive Agreement, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 7, 2022 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fi

November 1, 2022 LETTER

LETTER

United States securities and exchange commission logo November 1, 2022 Eric Hanson Chief Financial Officer Lifeway Foods, Inc.

October 26, 2022 CORRESP

October 26, 2022

October 26, 2022 VIA EDGAR United States Securities and Exchange Commission Division of Corporate Finance 100 F Street, NE Washington, D.

October 18, 2022 LETTER

LETTER

United States securities and exchange commission logo October 18, 2022 Eric Hanson Chief Financial Officer Lifeway Foods, Inc.

September 26, 2022 EX-99.1

Press release dated September 26, 2022 reporting Lifeway’s financial results for the six months ended June 30, 2022.*

Lifeway Foods, Inc. Announces Results for the Second Quarter Ended June 30, 2022 Net sales increase 14.8% year-over-year to $33.5 million; up 33.9% compared to 2020 Delivers 11th straight quarter of year-over-year net sales growth Morton Grove, IL ? September 26, 2022? Lifeway Foods, Inc. (Nasdaq: LWAY) (?Lifeway? or ?the Company?), a leading U.S. supplier of kefir and fermented probiotic products

September 26, 2022 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ? QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2022 ? TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-17363 LIFEWAY FOODS, INC.

September 13, 2022 EX-10.2

Termination Agreement dated as of August 30, 2022, between the Company and Ludmila Smolyansky

Exhibit 10.2 SETTLEMENT AGREEMENT AND MUTUAL GENERAL RELEASE THIS SETTLEMENT AGREEMENT and MUTUAL GENERAL RELEASE (this "Settlement Agreement") is dated August 30, 2022, and entered into by Lifeway Foods, Inc. ("Lifeway") on the one hand and Ludmila Smolyansky ("Ludmila") on the other hand. Each person or entity identified in the foregoing sentence is a "Party," and all such persons and entities a

September 13, 2022 8-K

Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 6, 2022 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission F

September 13, 2022 EX-10.1

Settlement Agreement dated as of September 1, 2022, between the Company and Edward Smolyansky

Exhibit 10.1 SETTLEMENT AGREEMENT AND MUTUAL GENERAL RELEASE THIS SETTLEMENT AGREEMENT and MUTUAL GENERAL RELEASE (this "Agreement") is dated September 1, 2022, and entered into by LIFEWAY FOODS, INC. ("Lifeway") on the one hand and EDWARD SMOLYANSKY ("Edward") on the other hand. Each person or entity identified in the foregoing sentence is a "Party," and all such persons and entities are, collect

September 2, 2022 EX-10.2

Lifeway Foods, Inc. 2022 2022 Non-Employee Director Equity and Deferred Compensation Plan

Exhibit 10.2 Lifeway Foods, Inc. 2022 Non-Employee Director Equity and Deferred Compensation Plan Effective August 31, 2022 Article 1 Establishment, Purpose, and Duration 1 Article 2 Definitions 1 Article 3 Administration 5 Article 4 Shares Subject to this Plan and Maximum Grants 5 Article 5 Eligibility and Participation 6 Article 6 Grants of RSUS 6 Article 7 Deferral Elections 8 Article 8 Distrib

September 2, 2022 EX-10.1

Lifeway Foods, Inc. 2022 Omnibus Incentive Plan

Exhibit 10.1 Lifeway Foods, Inc. 2022 Omnibus Incentive Plan Effective August 31, 2022 TABLE OF CONTENTS Page Article 1. Establishment, Purpose, and Duration 1 Article 2. Definitions 1 Article 3. Administration 6 Article 4. Shares Subject to this Plan and Maximum Awards 6 Article 5. Eligibility and Participation 7 Article 6. Stock Options 7 Article 7. Stock Appreciation Rights 8 Article 8. Restric

September 2, 2022 8-K

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers, Financial Statements and Exhibits, Submission of Matters to a Vote of Security Holders

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 31, 2022 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission Fil

August 26, 2022 EX-99.1

Press release dated August 26, 2022 reporting Lifeway’s financial results for the three months ended March 31, 2022.

Exhibit 99.1 Lifeway Foods, Inc. Announces Results for the First Quarter Ended March 31, 2022 Net sales increase 16.1% year-over-year to $34.1 million; up 34.3% compared to 2020 Delivers 10th straight quarter of year-over-year net sales growth Morton Grove, IL ? August 26, 2022? Lifeway Foods, Inc. (Nasdaq: LWAY) (?Lifeway? or ?the Company?), a leading U.S. supplier of kefir and fermented probioti

August 26, 2022 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ? QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2022 ? TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-17363 LIFEWAY FOODS, INC.

August 15, 2022 NT 10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 12b-25 NOTIFICATION OF LATE FILING

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 12b-25 NOTIFICATION OF LATE FILING (Check One) [] Form 10-K [] Form 20-F [] Form 11-K [X] Form 10-Q [] Form 10-D [] Form N-SAR [] N-CSR For Period Ended: June 30, 2022 [] Transition Report on Form 10-K [] Transition Report on Form 20-F [] Transition Report on Form 11-K [] Transition Report on Form 10-Q [] Transition Report

August 3, 2022 DEF 14A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant ? Filed by a Party other than the Registrant ? Check the appropriate box: ? Preliminary Proxy Statement ? Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ? Defi

July 29, 2022 EX-99.1

Lifeway Foods Announces Agreement with Edward and Ludmila Smolyansky

Exhibit 99.1 Lifeway Foods Announces Agreement with Edward and Ludmila Smolyansky Morton Grove, IL, July 29, 2022 - Lifeway Foods, Inc. (Nasdaq: LWAY) ("Lifeway" or the "Company"), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that it has entered into an agreement (the "Agreement") with Edward and Ludmila Smolyansky. The Agreement ensu

July 29, 2022 EX-10.1

Settlement Agreement

Exhibit 10.1 Settlement Agreement This Settlement Agreement, dated July 27, 2022 (including all exhibits hereto, this “Agreement”), is by and among Lifeway Foods, Inc. (the “Company”) on the one hand and Edward Smolyansky (“Mr. Smolyansky”) and Ludmila Smolyansky (“Mrs. Smolyansky” and, together with Mr. Smolyansky, the “Shareholders”) on the other hand (each, a “Party” and, collectively, the “Par

July 29, 2022 8-K

Entry into a Material Definitive Agreement, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 27, 2022 LIFEWAY FOODS, INC. (Exact name of registrant as specified in its charter) ILLINOIS 000-17363 36-3442829 (State or other jurisdiction of incorporation) (Commission File

July 29, 2022 SC 13D/A

LWAY / Lifeway Foods, Inc. / SMOLYANSKY EDWARD - SC 13D AMENDMENT 13 Activist Investment

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No.

July 29, 2022 EX-10.1

Settlement Agreement dated as of July 27, 2022, between the Company and Edward Smolyansky and Ludmila Smolyansky

Exhibit 10.1 Settlement Agreement This Settlement Agreement, dated July 27, 2022 (including all exhibits hereto, this ?Agreement?), is by and among Lifeway Foods, Inc. (the ?Company?) on the one hand and Edward Smolyansky (?Mr. Smolyansky?) and Ludmila Smolyansky (?Mrs. Smolyansky? and, together with Mr. Smolyansky, the ?Shareholders?) on the other hand (each, a ?Party? and, collectively, the ?Par

July 29, 2022 EX-10.2

Statement of Edward Smolyansky

Exhibit 10.2 Statement of Edward Smolyansky Morton Grove, IL, July 29, 2022 - Lifeway Foods, Inc. (Nasdaq: LWAY) (?Lifeway Foods? or the ?Company?), a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome, today announced that it has entered into an agreement with Edward and Ludmila Smolyansky. Mr. Smolyansky said, ?I have served Lifeway Foods since 2002, includ

July 21, 2022 EX-99.1

Press release dated July 21, 2022 reporting the Company’s financial results for year ended December 31, 2021.

Exhibit 99.1 Lifeway Foods, Inc. Announces Results for the Fourth Quarter and Full Year Ended December 31, 2021 Annual net sales increase 16.7% year-over-year to $119.1 million; up 27.1% compared to 2019 Delivers 9th straight quarter of year-over-year net sales growth Morton Grove, IL ? July 21, 2022? Lifeway Foods, Inc. (Nasdaq: LWAY) (?Lifeway? or ?the Company?), the leading U.S. supplier of kef

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