<SEC-DOCUMENT>0001193125-22-088626.txt : 20220330
<SEC-HEADER>0001193125-22-088626.hdr.sgml : 20220330
<ACCEPTANCE-DATETIME>20220330073451
ACCESSION NUMBER:		0001193125-22-088626
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220330
DATE AS OF CHANGE:		20220330

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KROGER CO
		CENTRAL INDEX KEY:			0000056873
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-GROCERY STORES [5411]
		IRS NUMBER:				310345740
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0129

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-00303
		FILM NUMBER:		22783149

	BUSINESS ADDRESS:	
		STREET 1:		1014 VINE ST
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45201
		BUSINESS PHONE:		5137624000

	MAIL ADDRESS:	
		STREET 1:		1014 VINE ST
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45201

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ICAHN CARL C
		CENTRAL INDEX KEY:			0000921669
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		C/O ICAHN ENTERPRISES L.P.
		STREET 2:		16690 COLLINS AVE., PH-1
		CITY:			SUNNY ISLES BEACH
		STATE:			FL
		ZIP:			33160
		BUSINESS PHONE:		305-422-4145

	MAIL ADDRESS:	
		STREET 1:		C/O ICAHN ENTERPRISES L.P.
		STREET 2:		16690 COLLINS AVE., PH-1
		CITY:			SUNNY ISLES BEACH
		STATE:			FL
		ZIP:			33160

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ICAHN CARL C ET AL
		DATE OF NAME CHANGE:	19950612
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>d340458ddfan14a.htm
<DESCRIPTION>DFAN14A
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<TITLE>DFAN14A</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No. __) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a Party other than the Registrant&nbsp;&nbsp;&#9746; </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Confidential, for Use of the Commission Only (as permitted by Rule
<FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT> </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Additional Materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting Material Pursuant to &#167; <FONT STYLE="white-space:nowrap">240.14a-12</FONT>
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>THE KROGER CO. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BARBERRY CORP. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CARL C.
ICAHN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ALEXIS C. FOX </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MARGARITA <FONT STYLE="white-space:nowrap">PAL&Aacute;U-HERN&Aacute;NDEZ</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (check the appropriate box): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">No fee required </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee paid previously with preliminary materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee computed on table in exhibit required by Item 25(b) per Exchange Act <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">Rules&nbsp;14a-6(i)(1)&nbsp;and&nbsp;0-11</FONT></FONT> </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On March&nbsp;29, 2022, Carl C. Icahn issued a letter to the Chairman and CEO of The Kroger Co., a copy of
which is filed herewith as Exhibit 1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF PROXIES
BY BARBERRY CORP. AND CARL C. ICAHN FROM THE STOCKHOLDERS OF THE KROGER CO. (&#147;KROGER&#148;) FOR USE AT ITS 2022 ANNUAL MEETING OF STOCKHOLDERS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION
RELATING TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION. WHEN COMPLETED, A DEFINITIVE PROXY STATEMENT AND A FORM OF PROXY WILL BE MAILED TO STOCKHOLDERS OF KROGER AND WILL ALSO BE AVAILABLE AT NO CHARGE AT THE SECURITIES AND EXCHANGE
COMMISSION&#146;S WEBSITE AT<U>&nbsp;HTTP://WWW.SEC.GOV</U>. INFORMATION RELATING TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION IS CONTAINED BELOW. EXCEPT AS OTHERWISE DISCLOSED, THE PARTICIPANTS HAVE NO INTEREST IN KROGER OTHER THAN THROUGH THE
BENEFICIAL OWNERSHIP OF SHARES OF COMMON STOCK, $1.00 PAR VALUE PER SHARE, OF KROGER. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PARTICIPANTS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The participants in the solicitation of proxies from stockholders of The Kroger Co. (the &#147;<U>Company</U>&#148; or &#147;<U>Kroger</U>&#148;) may be
deemed to include the following: (i)&nbsp;Barberry Corp., a Delaware corporation (&#147;<U>Barberry</U>&#148;); (ii) Carl C. Icahn, a citizen of the United States of America; (iii)&nbsp;Alexis C. Fox, a citizen of the United States of America; and
(iv)&nbsp;Margarita Pal&aacute;u-Hern&aacute;ndez, Esq., a citizen of the United States of America. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The principal business address of each of Barberry
and Mr.&nbsp;Icahn is 16690 Collins Avenue, <FONT STYLE="white-space:nowrap">Suite&nbsp;PH-1,&nbsp;Sunny</FONT> Isles Beach, FL 33160. The principal business address of each of Ms.&nbsp;Fox and Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez is set forth
below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barberry is the holder of record of 100 shares of common stock, $1.00 par value per share, of the Company (the &#147;<U>Shares</U>&#148;), and is
the direct beneficial owner of such Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Carl C. Icahn is the sole stockholder of Barberry. As such, Mr.&nbsp;Icahn is in a position indirectly to
determine the investment and voting decisions made by Barberry. Barberry is primarily engaged in the business of investing in securities. Carl C. Icahn&#146;s present principal occupation or employment is serving as: (i)&nbsp;Chief Executive Officer
of Icahn Capital LP, a wholly owned subsidiary of Icahn Enterprises L.P., through which Mr.&nbsp;Icahn manages various private investment funds; (ii)&nbsp;Chairman of the Board of Icahn Enterprises G.P. Inc., the general partner of Icahn Enterprises
L.P., a Nasdaq listed diversified holding company engaged in a variety of businesses, including investment, energy, automotive, food packaging, real estate and home fashion; and (iii)&nbsp;Chairman of the Board and a director of Starfire Holding
Corporation (&#147;<U>Starfire</U>&#148;), a holding company engaged in the business of investing in and/or holding securities of various entities, and as Chairman of the Board and a director of various of Starfire&#146;s subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Icahn indirectly beneficially owns, by virtue of his relationship to Barberry, 100 Shares, representing less than 0.1% of the outstanding Shares
(based upon 723,308,230 Shares stated to be outstanding as of March&nbsp;23, 2022, by the Company in the Company&#146;s Annual Report on <FONT STYLE="white-space:nowrap">Form&nbsp;10-K&nbsp;filed</FONT> with the Securities and Exchange Commission on
March&nbsp;29, 2022). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Alexis C. Fox is the <FONT STYLE="white-space:nowrap">co-founder</FONT> of Lighter, Inc., an intelligent, personalized meal
planning and tracking technology that bridges the gap between advice and action. Ms.&nbsp;Fox <FONT STYLE="white-space:nowrap">co-founded</FONT> Lighter, Inc. in November 2014 and served as its Chief Executive Officer from November 2014 through May
2020. From January 2012 to January 2015, Ms.&nbsp;Fox was an Adjunct Professor of Leadership at Emerson College. From 2010 to January 2015, Ms.&nbsp;Fox was the State Director of Massachusetts for The Humane Society of the United States. She has
served on the Board of Directors of Mercy for Animals since September 2018, where she sits on the compensation committee and is the Chair of the audit committee. Ms.&nbsp;Fox is also on the Board of Directors of Balanced.org since February 2017.
Ms.&nbsp;Fox holds a BA in Global Environmental Politics from Bates College and a JD from Lewis&nbsp;&amp; Clark Law School. She was also a visiting fellow at the Georgetown University Law Center. Ms.&nbsp;Fox is dedicated to fixing the broken food
system. To that end, she has worked for over twenty years, including as an attorney, a political leader and an entrepreneur, to usher in the future of food. Ms.&nbsp;Fox has been featured in Forbes, the Boston Globe and other national media, and is
recognized as an international expert and speaker on the future of food. Further, Ms.&nbsp;Fox has extensive experience building consumer-facing, data-driven technology that helps individuals make food related decisions. Ms.&nbsp;Fox&#146;s
extensive experience with all aspects of the food industry as well as her entrepreneur and leadership experience, make her well qualified to serve on the Board. Ms.&nbsp;Fox&#146;s business address is 625 Massachusetts Ave. #2, Cambridge, MA 02139.
Ms.&nbsp;Fox does not own, and has not owned during the past two years, directly or indirectly, beneficially or of record, any class of securities of the Company, including the Shares. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Margarita Pal&aacute;u-Hern&aacute;ndez is a founder and the Chief Executive Officer of Hern&aacute;ndez
Ventures, a privately held enterprise involved in Spanish media, business and real estate ventures (since November 1988). In September of 2018, Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez was nominated by President Donald J. Trump as a Representative of
the United States of America to the 73<SUP STYLE="font-size:85%; vertical-align:top">rd</SUP> Session of the General Assembly of the United Nations, with the rank of Ambassador, which she held until 2019. From September 1985 to 1988,
Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez was an attorney with the law firm of McCutcheon, Black, Verleger&nbsp;&amp; Shea where she focused on domestic and international business and real estate transactions. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez was
previously a Director for Herbalife Nutrition from 2018 to 2021 and a Director for ALJ Regional Holdings, Inc. from November 2015 to 2019. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez is currently a Director with Occidental Petroleum Corporation (since
2020), Xerox (since 2021), Conduent Incorporated (since 2019), and Apartment Income REIT Corp (since 2021). Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez holds a bachelor&#146;s degree from the University of San Diego and a JD from UCLA School of Law. In
addition to her professional responsibilities, Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez serves as Chair of the Yale School of Management Council of Global Advisors, an <FONT STYLE="white-space:nowrap">ex-officio</FONT> Board Member of the Yale School
of Management Board of Advisors, Chair of the Smithsonian National Latino Board, and Vice Chair of the Board of Trustees of the National Museum of the American Latino at the Smithsonian. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez also serves on the
Ronald Reagan UCLA Medical Center Board of Advisors and is a founding Board Member of UCLA Law Women L.E.A.D. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez previously served as a Board Member and is currently a Trustee Emeritus of UCLA School of Law Board
of Advisors and the University of San Diego Board of Trustees. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez has extensive legal and directorship experience, which make her well qualified to serve on the Board. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez&#146;s
business address is 300 Los Altos Drive, Pasadena, CA 91105. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez does not own, and has not owned during the past two years, directly or indirectly, beneficially or of record, any class of securities of the Company,
including the Shares. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Carl C. Icahn Issues Letter to </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Chairman and CEO of The Kroger Co. </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Sunny Isles Beach, Florida, March&nbsp;29, 2022 &#151; Today, Carl C. Icahn sent the following letter to W. Rodney McMullen, the Chairman of
the Board and Chief Executive Officer of The Kroger Co. (NYSE: KR). </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Investor Contacts</U>:
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Harkins Kovler, LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Peter Harkins / Jordan Kovler </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(212) <FONT STYLE="white-space:nowrap">468-5390</FONT> / (212) <FONT STYLE="white-space:nowrap">468-5384</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>pharkins@harkinskovler.com</U> / <U>jkovler@harkinskovler.com</U> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CARL C. ICAHN </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16690 Collins Avenue, Suite <FONT STYLE="white-space:nowrap">PH-1</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Sunny Isles Beach, FL 33160 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">March&nbsp;29, 2022 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Kroger Co. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1014 Vine Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cincinnati, Ohio 45202 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><U>Attention</U>:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">W. Rodney McMullen </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Chairman of the Board and Chief Executive Officer </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Rodney, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Thank you for the candid conversation
on Friday. It remains clear, however, that our perspectives concerning Kroger are very much at odds. While I would always rather have peace than war, since today is the last possible day to nominate a slate of directors, we are planning to file two
impressively qualified candidates by today&#146;s deadline. These individuals have superior knowledge and experience relating to animal welfare and other ESG weaknesses, as well as dealing with rubber stamp boards that permit egregious wage gaps
which are the major cause for poor worker morale. The wage gap between the CEO and median worker at Kroger is unconscionable. Our candidates will take our concerns about deplorable animal suffering and these wage gaps (and other governance problems)
at Kroger seriously and add proper oversight. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our concerns regarding Kroger&#146;s governance go beyond animal suffering and other
terrible practices taking place at industrialized factory farms&#151;that are supported by Kroger&#146;s patronage. Kroger&#146;s inaction towards creating meaningful animal welfare policies and verification methods is totally out of step with
consumer desire and current legislation. The Board of Kroger is also completely tone-deaf to other growing ESG concerns, specifically that of providing a living wage to your employees. You&#146;ve helmed a company that certainly has the gravitas to
steer change, yet instead have condoned cruelty towards those who are the most defenseless. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">It is not my goal to tell you how to run
Kroger operationally nor make money from my small investment and proxy campaign. However, I remain very troubled by the glaring oversight of needless distress caused by your company&#146;s policies and see an opportunity to make a difference. At
this point in my career, I view it as my mission to make changes where I can by doing what I do best, in areas that I consider to be glaring injustices. Your company is conducting itself in ways which are unconscionable with regards to animal
cruelty and flagrantly side-stepping financial obligations to workers who don&#146;t make a fair wage (while you received $22.4&nbsp;million dollars in 2020). What is totally reprehensible is that you managed to personally profit from the extremely
high margins caused by the pandemic while at the same time reneging on your &#147;Hero Bonus&#148; promise to front-line workers. Heroes they are indeed, and while these workers risked their lives to keep America fed and Kroger&#146;s business
alive, the board allowed you to give yourself a staggering pay package while inexplicably removing the workers&#146; meager $2 dollar an hour raise. This mockery of meritocracy is the quintessential example of why capitalism and business get a bad
rap and people are disillusioned with the American Dream. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our society does not condone mistreating animals and causing unnecessary suffering and pain,
which is exactly what Gestation Crates and other industrialized practices do. Having grown up on a farm yourself, I am genuinely surprised at your condoning of such torturous devices and remaining stagnant on policies seeking to innovate and improve
conditions for farmed animals. You and the Kroger Board have the power to do something about this suffering but blatantly ignore it, as do you the injustices occurring to your workers. Instead of issuing stronger animal welfare policies and supply
chain and compensation oversight, Kroger&#146;s top management and directors are failing to provide decent pay to workers in a company that can afford to give its CEO $22&nbsp;million dollars per year (and the other perks it bestows to its top
management). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">What has happened at Kroger with the issues of animal welfare and employee wages is an affront to the basic fibers of our
society&#151;that of decency and dignity. Your Board of Directors has created an unnecessary situation, placing your company at risk, by rubber stamping unethical policies as well as breaking promises they made to frontline workers during the
pandemic. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Even in a hard-nosed capitalistic system like ours, it is obscene that a CEO makes 900 times what workers earn. It is truly
difficult to point to anything comparable, even when considering the grave injustices in the early days of the Industrial Revolution. At Kroger, amazingly, it will take an average worker 20 years to make what the CEO earns in one week. In my 40
years of being an activist, I have never seen anything like this. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Just to reference a recent New York Times article, many of your loyal
employees&#151;those who have worked at your company for years&#151;are &#147;strapped for cash,&#148; as single mother Ashley Manning puts it. Other employees say they are homeless, on food stamps or need to subsidize their earnings by donating
plasma. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This mistreatment of your employees, coupled with Kroger&#146;s pathetic approach to animal welfare, render me mystified as to
how any board member can allow such brazen indignities. Kroger has turned a blind eye to both human and animal suffering. Where has the board been? </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top">Sincerely,</TD></TR>
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<TD VALIGN="top">Carl Icahn</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Additional Information and Where to Find It; </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Participants in the Solicitation </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECURITY
HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS RELATED TO THE SOLICITATION OF PROXIES BY BARBERRY CORP. AND CARL C. ICAHN FROM THE STOCKHOLDERS OF THE KROGER CO. (&#147;KROGER&#148;) FOR USE AT ITS 2022 ANNUAL MEETING OF
STOCKHOLDERS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATING TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION. WHEN COMPLETED, A DEFINITIVE PROXY STATEMENT AND A FORM OF PROXY WILL BE MAILED
TO STOCKHOLDERS OF KROGER AND WILL ALSO BE AVAILABLE AT NO CHARGE AT THE SECURITIES AND EXCHANGE COMMISSION&#146;S WEBSITE AT<U>&nbsp;HTTP://WWW.SEC.GOV</U>. INFORMATION RELATING TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION IS CONTAINED BELOW.
EXCEPT AS OTHERWISE DISCLOSED, THE PARTICIPANTS HAVE NO INTEREST IN KROGER OTHER THAN THROUGH THE BENEFICIAL OWNERSHIP OF SHARES OF COMMON STOCK, $1.00 PAR VALUE PER SHARE, OF KROGER. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PARTICIPANTS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The participants in the
solicitation of proxies from stockholders of The Kroger Co. (the &#147;<U>Company</U>&#148; or &#147;<U>Kroger</U>&#148;) may be deemed to include the following: (i)&nbsp;Barberry Corp., a Delaware corporation (&#147;<U>Barberry</U>&#148;); (ii)
Carl C. Icahn, a citizen of the United States of America; (iii)&nbsp;Alexis C. Fox, a citizen of the United States of America; and (iv)&nbsp;Margarita Pal&aacute;u-Hern&aacute;ndez, Esq., a citizen of the United States of America. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The principal business address of each of Barberry and Mr.&nbsp;Icahn is 16690 Collins Avenue,
<FONT STYLE="white-space:nowrap">Suite&nbsp;PH-1,&nbsp;Sunny</FONT> Isles Beach, FL 33160. The principal business address of each of Ms.&nbsp;Fox and Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez is set forth below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barberry is the holder of record of 100 shares of common stock, $1.00 par value per share, of the Company (the &#147;<U>Shares</U>&#148;), and is the direct
beneficial owner of such Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Carl C. Icahn is the sole stockholder of Barberry. As such, Mr.&nbsp;Icahn is in a position indirectly to determine the
investment and voting decisions made by Barberry. Barberry is primarily engaged in the business of investing in securities. Carl C. Icahn&#146;s present principal occupation or employment is serving as: (i)&nbsp;Chief Executive Officer of Icahn
Capital LP, a wholly owned subsidiary of Icahn Enterprises L.P., through which Mr.&nbsp;Icahn manages various private investment funds; (ii)&nbsp;Chairman of the Board of Icahn Enterprises G.P. Inc., the general partner of Icahn Enterprises L.P., a
Nasdaq listed diversified holding company engaged in a variety of businesses, including investment, energy, automotive, food packaging, real estate and home fashion; and (iii)&nbsp;Chairman of the Board and a director of Starfire Holding Corporation
(&#147;<U>Starfire</U>&#148;), a holding company engaged in the business of investing in and/or holding securities of various entities, and as Chairman of the Board and a director of various of Starfire&#146;s subsidiaries. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Icahn indirectly beneficially owns, by virtue of his relationship to Barberry, 100 Shares,
representing less than 0.1% of the outstanding Shares (based upon 723,308,230 Shares stated to be outstanding as of March&nbsp;23, 2022, by the Company in the Company&#146;s Annual Report on
<FONT STYLE="white-space:nowrap">Form&nbsp;10-K&nbsp;filed</FONT> with the SEC on March&nbsp;29, 2022). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Alexis C. Fox is the <FONT
STYLE="white-space:nowrap">co-founder</FONT> of Lighter, Inc., an intelligent, personalized meal planning and tracking technology that bridges the gap between advice and action. Ms.&nbsp;Fox <FONT STYLE="white-space:nowrap">co-founded</FONT>
Lighter, Inc. in November 2014 and served as its Chief Executive Officer from November 2014 through May 2020. From January 2012 to January 2015, Ms.&nbsp;Fox was an Adjunct Professor of Leadership at Emerson College. From 2010 to January 2015,
Ms.&nbsp;Fox was the State Director of Massachusetts for The Humane Society of the United States. She has served on the Board of Directors of Mercy for Animals since September 2018, where she sits on the compensation committee and is the Chair of
the audit committee. Ms.&nbsp;Fox is also on the Board of Directors of Balanced.org since February 2017. Ms.&nbsp;Fox holds a BA in Global Environmental Politics from Bates College and a JD from Lewis&nbsp;&amp; Clark Law School. She was also
visiting fellow at the Georgetown University Law Center. Ms.&nbsp;Fox is dedicated to fixing the broken food system. To that end, she has worked for over twenty years, including as an attorney, a political leader and an entrepreneur, to usher in the
future of food. Ms.&nbsp;Fox has been featured in Forbes, the Boston Globe and other national media, and is recognized as an international expert and speaker on the future of food. Further, Ms.&nbsp;Fox has extensive experience building
consumer-facing, data-driven technology that helps individuals make food related decisions. Ms.&nbsp;Fox&#146;s extensive experience with all aspects of the food industry as well as her entrepreneur and leadership experience, make her well qualified
to serve on the Board. Ms.&nbsp;Fox&#146;s business address is 625 Massachusetts Ave. #2, Cambridge, MA 02139. Ms.&nbsp;Fox does not own, and has not owned during the past two years, directly or indirectly, beneficially or of record, any class of
securities of the Company, including the Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Margarita Pal&aacute;u-Hern&aacute;ndez is a founder and the Chief Executive Officer of Hern&aacute;ndez
Ventures, a privately held enterprise involved in Spanish media, business and real estate ventures (since November 1988). In September of 2018, Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez was nominated by President Donald J. Trump as a Representative of
the United States of America to the 73<SUP STYLE="font-size:85%; vertical-align:top">rd</SUP> Session of the General Assembly of the United Nations, with the rank of Ambassador, which she held until 2019. From September 1985 to 1988,
Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez was an attorney with the law firm of McCutcheon, Black, Verleger&nbsp;&amp; Shea where she focused on domestic and international business and real estate transactions. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez was
previously a Director for Herbalife Nutrition from 2018 to 2021 and a Director for ALJ Regional Holdings, Inc. from November 2015 to 2019. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez is currently a Director with Occidental Petroleum Corporation (since
2020), Xerox (since 2021), Conduent Incorporated (since 2019), and Apartment Income REIT Corp (since 2021). Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez holds a bachelor&#146;s degree from the University of San Diego and a JD from UCLA School of Law. In
addition to her professional responsibilities, Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez serves as Chair of the Yale School of </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Management Council of Global Advisors, an <FONT STYLE="white-space:nowrap">ex-officio</FONT> Board Member of the Yale School of Management Board of Advisors, Chair of the Smithsonian National
Latino Board, and Vice Chair of the Board of Trustees of the National Museum of the American Latino at the Smithsonian. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez also serves on the Ronald Reagan UCLA Medical Center Board of Advisors and is a founding
Board Member of UCLA Law Women L.E.A.D. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez previously served as a Board Member and is currently a Trustee Emeritus of UCLA School of Law Board of Advisors and the University of San Diego Board of Trustees.
Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez has extensive legal and directorship experience, which make her well qualified to serve on the Board. Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez&#146;s business address is 300 Los Altos Drive, Pasadena, CA 91105.
Ms.&nbsp;Pal&aacute;u-Hern&aacute;ndez does not own, and has not owned during the past two years, directly or indirectly, beneficially or of record, any class of securities of the Company, including the Shares. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Other Important Disclosure Information </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>SPECIAL NOTE REGARDING THIS LETTER: </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">OUR VIEWS AND OUR
HOLDINGS COULD CHANGE AT ANY TIME. WE MAY SELL ANY OR ALL OF OUR HOLDINGS OR INCREASE OUR HOLDINGS BY PURCHASING ADDITIONAL SECURITIES. WE MAY TAKE ANY OF THESE OR OTHER ACTIONS REGARDING&nbsp;KROGER&nbsp;WITHOUT UPDATING THIS LETTER OR PROVIDING
ANY NOTICE WHATSOEVER OF ANY SUCH CHANGES (EXCEPT AS OTHERWISE REQUIRED BY LAW). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>FORWARD-LOOKING STATEMENTS: </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements contained in this letter are forward-looking statements including, but not limited to, statements that are predications of or indicate
future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Forward-looking statements are not guarantees of future
performance or activities and are subject to many risks and uncertainties. Due to such risks and uncertainties, actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking
statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as &#147;believe,&#148; &#147;expect,&#148; &#147;anticipate,&#148; &#147;intend,&#148; &#147;plan,&#148;
&#147;estimate,&#148; &#147;should,&#148; &#147;may,&#148; &#147;will,&#148; &#147;objective,&#148; &#147;projection,&#148; &#147;forecast,&#148; &#147;management believes,&#148; &#147;continue,&#148; &#147;strategy,&#148; &#147;position&#148; or
the negative of those terms or other variations of them or by comparable terminology. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Important factors that could cause actual results to differ
materially from the expectations set forth in this letter include, among other things, the factors identified in&nbsp;Kroger&#146;s public filings. Such forward-looking statements should therefore be construed in light of such factors, and we are
under no obligation, and expressly disclaim any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. </P>
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