Fellow Class A Shareholder,
Summer Road LLC (“Summer Road” or “we”) owns approximately 3% of the outstanding shares of Class A common stock of Ingles Markets, Incorporated (NASDAQ: IMKTA) (“Ingles” or the “Company”). At the 2026 Annual Meeting of Shareholders on April 30, we are seeking your support to elect Rory A. Held to Ingles’ Board of Directors (the “Board”).
Our campaign has always been about giving Class A shareholders truly independent representation on the Board following Ingles’ failures on transparency, capital allocation and governance. Instead of addressing investors’ concerns about its anemic growth, ambiguous corporate strategy, lack of shareholder engagement and Board oversight shortcomings, the Company is seeking to distract attention from these legitimate issues by fearmongering about
our intentions. Shareholders should ask why Ingles is fighting so aggressively against the election of one qualified, independent Class A shareholder to the eight-member Board of a controlled Company.
While traditional and social media are filled with inflammatory quotes regarding the poor reputation of Chairman Robert P. Ingle, II and the Company, we recognize that these public narratives are often inaccurate and fail to reflect the complete truth. Rather than engaging with that noise, we are focusing our efforts on the undeniable facts. What matters to shareholders is establishing an independent voice in the boardroom to ask the tough questions necessary to
improve returns and transparency.
As you prepare to cast your vote at this year’s Annual Meeting, we want you to be armed with the facts:
Source: https://www.sec.gov/Archives/edgar/data/50493/000092189526000998/ex1todfan14a14578002_041426.pdf