SCHEDULE 13D/A 0000902664-24-005888 0001998597 XXXXXXXX LIVE 7 Common Stock, par value $1.00 per share 06/03/2025 false 0001679273 513272104 Lamb Weston Holdings, Inc.

599 S. RIVERSHORE LANE Eagle ID 83616

Ele Klein & Adriana Schwartz 212-756-2000 Schulte Roth & Zabel LLP 919 Third Avenue New York NY 10022 0001998597 N JANA Partners Management, LP a AF N DE 7557519.00 0.00 7557519.00 0.00 7557519.00 N 5.4 IA PN 0001490371 N Bradley Alford a PF N X1 19233.00 0.00 19233.00 0.00 19233.00 N 0.0 IN Y Jeffery DeLapp a PF N X1 458.00 0.00 458.00 0.00 458.00 N 0.0 IN 0001440622 N Diane Dietz a PF N X1 73888.00 0.00 73888.00 0.00 73888.00 N 0.1 IN 0001666277 N John P. Gainor Jr. a PF N X1 16000.00 0.00 16000.00 0.00 16000.00 N 0.0 IN 0001215826 N Timothy R. McLevish a PF N X1 50500.00 0.00 50500.00 0.00 50500.00 N 0.0 IN 0001203096 N Joseph E. Scalzo a PF N X1 7885.00 0.00 7885.00 0.00 7885.00 N 0.0 IN Common Stock, par value $1.00 per share Lamb Weston Holdings, Inc. 599 S. RIVERSHORE LANE Eagle ID 83616 This Amendment No. 7 ("Amendment No. 7") amends the statement on Schedule 13D filed with the Securities and Exchange Commission on October 18, 2024 (the "Original Schedule 13D", as amended, the "Schedule 13D"), with respect to the shares of common stock, par value $1.00 per share (the "Shares"), of Lamb Weston Holdings, Inc., a Delaware corporation (the "Issuer"). This Amendment No. 7 amends Items 4, 5(a)-(c), and 7 as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 7 have the meanings set forth in the Schedule 13D. Item 4 is hereby amended and supplemented by the addition of the following: On June 3, 2025, JANA issued a public letter to the Issuer's Board of Directors (the "June 3, 2025 Letter"), which is attached hereto as Exhibit 99.5 and incorporated by reference herein. Item 5(a) is hereby amended and restated in its entirety as follows: The percentage of Shares reported to be beneficially owned by the Reporting Persons is based upon 141,115,615 Shares outstanding as of March 27, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended February 23, 2025, filed with the SEC on April 3, 2025. As of the close of business on the date hereof, JANA may be deemed to beneficially own 7,557,519 Shares, representing approximately 5.4% of the Shares outstanding. As of the close of business on the date hereof, Mr. Alford may be deemed to beneficially own 19,233 Shares, representing less than 0.1% of the Shares outstanding. As of the close of business on the date hereof, Mr. DeLapp may be deemed to beneficially own 458 Shares, representing less than 0.1% of the Shares outstanding. As of the close of business on the date hereof, Ms. Dietz may be deemed to beneficially own 73,888 Shares, representing 0.1% of the Shares outstanding. As of the close of business on the date hereof, Mr. Gainor may be deemed to beneficially own 16,000 Shares, representing less than 0.1% of the Shares outstanding. As of the close of business on the date hereof, Mr. McLevish may be deemed to beneficially own 50,500 Shares, representing less than 0.1% of the Shares outstanding. As of the close of business on the date hereof, Mr. Scalzo may be deemed to beneficially own 7,885 Shares, representing less than 0.1% of the Shares outstanding. The Reporting Persons and Continental Grain Company, a Delaware corporation ("Continental Grain"), and certain of its related entities and persons (together with Continental Grain, the "Continental Grain Reporting Persons") may be deemed to be members of a "group" within the meaning of Section 13(d)(3) of the Exchange Act. The Continental Grain Reporting Persons are separately filing on Schedule 13D (the "Continental Grain 13D") with respect to their beneficial ownership of the Shares. Based on information and belief, the Continental Grain Reporting Persons may be deemed to beneficially own an aggregate of 2,150,720 Shares. Accordingly, in the aggregate, the Reporting Persons and the Continental Grain Reporting Persons may be deemed to beneficially own an aggregate of 9,876,203 Shares, representing approximately 7.0% of the Shares outstanding. Each of the Reporting Persons expressly disclaims beneficial ownership of the Shares beneficially owned by the other Reporting Persons and the Continental Grain Reporting Persons. Item 5(b) is hereby amended and restated in its entirety as follows: JANA has sole voting and dispositive power over 7,557,519 Shares, which power is exercised by the JANA Principal. Mr. Alford has sole voting and dispositive power over 19,233 Shares. Mr. DeLapp has sole voting and dispositive power over 458 Shares. Ms. Dietz has sole voting and dispositive power over 73,888 Shares. Mr. Gainor has sole voting and dispositive power over 16,000 Shares. Mr. McLevish has sole voting and dispositive power over 50,500 Shares. Mr. Scalzo has sole voting and dispositive power over 7,885 Shares. Item 5(c) is hereby amended and restated in its entirety as follows: No transactions in the Shares have been effected by the Reporting Persons during the past sixty (60) days. Item 7 is hereby amended and supplemented by the addition of the following: Exhibit 99.5: June 3, 2025 Letter JANA Partners Management, LP /s/ Jennifer Fanjiang 06/05/2025 Bradley Alford /s/ Bradley Alford 06/05/2025 Jeffery DeLapp /s/ Jeffery DeLapp 06/05/2025 Diane Dietz /s/ Diane Dietz 06/05/2025 John P. Gainor Jr. /s/ John P. Gainor Jr. 06/05/2025 Timothy R. McLevish /s/ Timothy R. McLevish 06/05/2025 Joseph E. Scalzo /s/ Joseph E. Scalzo 06/05/2025