Risk Factors Update Summary

• Revenue from the DTC channel decreased in 2023 compared to 2022 due to increased customer acquisition costs.
• Noncompliance with food safety regulations could result in FDA enforcement actions or product recalls.
• Changes in Data Protection Laws could impact the company's ability to store and process customer data.
• Wholesale channel revenue increased to $225.1 million in 2023 from $119.4 million in 2022.
• Changes in the availability and cost of labor could harm the business operations.
• Failure to comply with advertising laws could lead to federal or state enforcement actions.
• Significant executive management turnover in 2023 may cause disruptions and harm to the business.
• Failure to meet the goal of maintaining veteran hiring levels could harm reputation.
• Increased state requirements regarding food manufacturing and labeling could impact business operations.
• Founder and key executive officers are crucial to the success of the business.
• Litigation or legal proceedings could expose the company to significant liabilities and reputation damage.
• Barter arrangement valued at $41.6 million for advertising may not provide expected benefits.
• Material weakness identified in internal control over financial reporting related to fixed asset activity.
• Changes in executive management team in 2023 could lead to disruptions in the business.