Proxy advisors recommend shareholders to vote for Rory Held to Ingles Board

Summer Road, the beneficial owner of approximately 3% of the outstanding shares of Class A common stock of Ingles Markets, announced that all three independent proxy advisory firms, Institutional Shareholder Services, or ISS, Glass, Lewis & Co., and Egan-Jones Ratings Company, have recommended shareholders vote for the election of Summer Road nominee Rory A. Held to Ingles’ Board of Directors at the 2026 Annual Meeting of Shareholders. Summer Road commented: “All three independent proxy advisors unanimously believe that shareholders should support boardroom change to restore investor transparency and drive long-term value. The proxy advisors’ respective reports highlight many of the issues raised by our campaign, including Ingles’ deficient disclosure, trailing shareholder returns, persistent operational underperformance and record of functioning like a privately held enterprise to the detriment of Class A shareholders. They have also taken note of the Company’s efforts to deceive the public, including by altering its peer group to artificially make its performance look better. We encourage shareholders to heed all three experts’ recommendations by electing Mr. Held to ensure that Class A shareholders finally have legitimate, independent representation on Ingles’ Board.”