All Three Independent Proxy Advisors Recommend Ingles Markets Shareholders Vote for Rory A. Held

Published: 2026-04-20 06:31:10 ET IMKTA

ISS, Glass Lewis and Egan-Jones All Support Summer Road’s Case for Boardroom Change ISS, Glass Lewis and Egan-Jones All Endorse the Election of Rory A. Held to Improve Board Transparency and Oversight of Capital Allocation

Published on 04/20/2026 at 06:31 am EDT

Summer Road LLC (“Summer Road” or “we”), the beneficial owner of approximately 3% of the outstanding shares of Class A common stock of Ingles Markets, Incorporated (NASDAQ: IMKTA) (“Ingles” or the “Company”), today announced that all three independent proxy advisory firms, Institutional Shareholder Services Inc. (“ISS”), Glass, Lewis & Co., LLC (“Glass Lewis”) and Egan-Jones Ratings Company (“Egan-Jones”), have recommended shareholders vote for the election of Summer Road nominee Rory A. Held to Ingles’ Board of Directors (the “Board”) 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.”

In its report, ISS wrote:1

In its report, Glass Lewis noted the following:2

In its report, Egan-Jones concluded that:3

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If you have questions about how to elect Summer Road’s independent nominee, Rory A. Held, to the Ingles Board using the GOLD universal proxy card, please contact:

Saratoga Proxy Consulting LLC 520 8th Avenue, 14th Floor New York, NY 10018 Shareholders Call Toll-Free: (888) 368-0379 [email protected]

Visit www.saratogaproxy.com/Ingles to review Summer Road’s materials.

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About Summer Road LLC

Summer Road LLC is a family office which invests across a diverse range of strategies and asset classes.

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