<SEC-DOCUMENT>0001214659-24-000401.txt : 20240108
<SEC-HEADER>0001214659-24-000401.hdr.sgml : 20240108
<ACCEPTANCE-DATETIME>20240108132445
ACCESSION NUMBER:		0001214659-24-000401
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240108
DATE AS OF CHANGE:		20240108
EFFECTIVENESS DATE:		20240108

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TYSON FOODS, INC.
		CENTRAL INDEX KEY:			0000100493
		STANDARD INDUSTRIAL CLASSIFICATION:	POULTRY SLAUGHTERING AND PROCESSING [2015]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				710225165
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14704
		FILM NUMBER:		24519421

	BUSINESS ADDRESS:	
		STREET 1:		2200 DON TYSON PARKWAY
		CITY:			SPRINGDALE
		STATE:			AR
		ZIP:			72762-6999
		BUSINESS PHONE:		479-290-5799

	MAIL ADDRESS:	
		STREET 1:		P O BOX 2020
		STREET 2:		P O BOX 2020
		CITY:			SPRINGDALE
		STATE:			AR
		ZIP:			72765-2020

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TYSON FOODS INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mercy Investment Services, Inc.
		CENTRAL INDEX KEY:			0001699865
		ORGANIZATION NAME:           	
		IRS NUMBER:				263224636
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		2039 NORTH GEYER ROAD
		CITY:			ST. LOUIS
		STATE:			MO
		ZIP:			63131
		BUSINESS PHONE:		314-909-4609

	MAIL ADDRESS:	
		STREET 1:		2039 NORTH GEYER ROAD
		CITY:			ST. LOUIS
		STATE:			MO
		ZIP:			63131
</SEC-HEADER>
<DOCUMENT>
<TYPE>PX14A6G
<SEQUENCE>1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman; margin: 0pt 0; background-color: #B8CCE3"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman; margin: 0pt 0; text-align: center">Tyson Foods</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Vote Yes: Proxy Ballot Item #3 &mdash; Shareowner Proposal
Requesting the Board Prepare a</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Report on the Alignment of Corporate Climate Lobbying Activities
</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Annual Meeting: February 8, 2024</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>CONTACT: </B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Laura Krausa, Common Spirit Health | <FONT STYLE="color: blue">laura.krausa@commonspirit.org</FONT></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Mary Minette, Mercy Investment Services | <FONT STYLE="color: #0562C1">mminette@Mercyinvestments.org</FONT></B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman; margin: 0pt 0; background-color: #B8CCE3"><B>SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Climate change poses financial, reputational, and physical risks to Tyson Foods (&ldquo;Tyson&rdquo;
or &ldquo;the Company&rdquo;). Recognizing these risks, the Company has set ambitious emissions reduction targets, but achieving its goals
will require strong public policies. Because of this link between the company&rsquo;s long-term ambitions and public policy, investors
are increasingly asking for reports on how corporate lobbying activities, both direct and indirect, are aligned with a company&rsquo;s
own climate goals and the net-zero goals of the Paris Climate Agreement. Companies in a variety of sectors have begun to release this
information; however, Tyson provides only limited information about its climate lobbying activities, although the Company reports that
it supports some trade associations and non-profit organizations that lobby negatively on climate change. Accordingly, investors are encouraged
to vote &ldquo;FOR&rdquo; this proposal.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman; margin: 0pt 0; background-color: #B8CCE3"><B>RESOLVED CLAUSE</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><I>Shareholders request that Tyson Foods (&ldquo;Tyson&rdquo;) conduct an evaluation
and issue a report annually, beginning within the next year (at reasonable cost, omitting proprietary information) describing if, and
how, its lobbying, directly and through the activities of its trade associations and social welfare organizations, aligns with the Company&rsquo;s
science-based target and long-term net zero ambitions. The report should also address the risks presented by any misaligned lobbying and
Tyson&rsquo;s efforts, if any, to mitigate these risks</I></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman; margin: 0pt 0; background-color: #B8CCE3"><B>RATIONALE FOR A YES VOTE</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Tyson Foods has acknowledged the long-term risk posed by climate change to its business through its commitment to reach Net Zero emissions
by 2050; strong and supportive public policies are needed to reach its goals and to mitigate the risk of climate change to the food system.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Investors are increasingly expecting companies to report how their lobbying activities align with climate goals, and many companies
are providing robust disclosure about their public policy advocacy activities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Tyson Foods makes only limited disclosure about its direct or indirect climate-related lobbying, preventing shareholders from discerning
whether its activities align with its climate goals or how the Company is managing risks related to misalignment.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman; margin: 0pt 0; background-color: #B8CCE3"><B>DISCUSSION</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Climate Change poses material risks to Tyson Food&rsquo;s business, and strong public policy is critical to addressing those risks.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Tyson Foods (&ldquo;Tyson&rdquo; or &ldquo;the Company&rdquo;) has acknowledged the
long-term risk posed by climate change to its business through its commitment to reach Net Zero emissions by 2050. In its 2023 Form 10-K
the Company states &ldquo;The effects of climate change and legal or regulatory initiatives to address climate change could have a long-term
adverse impact on our business and results of operations.&rdquo;<SUP>1</SUP> Potential impacts include decreased agricultural productivity
due to changes in weather patterns, disruptions in the company&rsquo;s extensive supply chain, and dropping demand for the company&rsquo;s
products due to changes in consumer preferences as a result of climate concerns.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Due to the extensive risk posed by climate change to the Company&rsquo;s business,
Tyson Foods has committed to reach net-zero scope 1, 2 and 3 greenhouse gas emissions in its own operations and its supply chain by 2050
and to work with the Science-based Targets Initiative to update its existing targets.<SUP>2</SUP> We commend the Company for this strong
commitment to a science-based approach to setting and meeting targets to reduce its climate impact and the leadership it is demonstrating
within its industry. However, achieving this industry-leading goal will require strong public policy support for the farmers and ranchers
in the Company&rsquo;s supply chain as they work to reduce emissions as well as for the development of renewable energy, vehicle electrification
and other emerging technologies to reduce the Company&rsquo;s full scope of emissions. Without robust, supportive public policies, Tyson&rsquo;s
climate goals may not be achievable.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">In its 2023 CDP questionnaire response, the Company recognized the risk posed to
its &ldquo;business as usual&rdquo; by identifying climate-related factors and included some details of its direct lobbying activities
on climate change policy. However, the Company also noted that it has not evaluated whether its own public policy activities or those
of its trade associations are aligned with the net-zero goals of the Paris Climate Agreement.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">A 2021 report from Ceres notes that &ldquo;Companies that establish robust governance
systems to address climate change as a systemic risk and align their direct and indirect lobbying efforts to support science-based climate
policies will drive the creation of a regulatory environment that best positions them for resilient growth.&rdquo; As long-term investors
in Tyson Foods, we believe that our Company must align its public policy engagement with its long-term climate goals. Transparency regarding
governance of lobbying activities, trade association memberships, and any efforts made to address misalignments between company policy
and lobbying positions are a key to showing that Tyson is adequately managing climate risk.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>1</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://d18rn0p25nwr6d.cloudfront.net/CIK-0000100493/240fbb6c-6e24-4003-ad0d-471a53af35eb.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>2</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://www.tysonfoods.com/sites/default/files/2023-10/Tyson%20Foods%20Sustainability%20Report%20FY2022%20%281%29.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Investors are increasingly requesting disclosure of climate lobbying information, and many companies are complying.</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Investors increasingly expect companies to disclose information on their direct and
indirect lobbying efforts on climate issues as well as how those activities align with the company&rsquo;s own climate-related goals and
the goals of the Paris Agreement. For example:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&squarf;</FONT></TD><TD>In 2021, a majority of investors in five companies supported proposals asking companies to report on their climate lobbying activities
and how they align with the goals of the Paris Agreement.<SUP>3</SUP></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&squarf;</FONT></TD><TD>65 percent of investors responding to the 2021 ISS global policy survey on climate issues support companies reporting on how corporate
and trade association lobbying activities are in alignment (or are not in contradiction) with limiting global warming in line with Paris
Agreement goals.<SUP>4</SUP></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&squarf;</FONT></TD><TD>The Climate Action 100+ initiative, including large and small investors with a total of more than $60 trillion in assets under management,
has established a Net-Zero Benchmark, asking target companies to disclose how their lobbying activities, both direct and through trade
associations, align with the net-zero goals of the Paris Agreement.<SUP>5</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">The <I>Global Standard on Responsible Climate Lobbying</I>, issued in March 2022
following a multi-stakeholder global consultation that included both companies and investors, includes 14 indicators representing best
practice for lobbying and public policy activities related to climate change. The indicators recommend company practices in four broad
areas:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>Commitment to Paris-aligned public policy advocacy;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>Robust governance of climate lobbying, including management and board oversight and a clear framework for evaluating alignment;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>Analysis and reporting on alignment between public policy advocacy (both direct and indirect through organizations) and Paris Agreement
goals; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>Public disclosure of all organizations involved in climate lobbying to which a company belongs or provides funds, as well as assessment
of the impact of those organizations&rsquo; advocacy activities.<SUP>6</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Tyson does not adequately disclose information on its climate lobbying activities, and limited information available to investors
indicates some misalignment with the company&rsquo;s net-zero goals.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Although Tyson Foods discloses a list of its trade associations that receive more
than $50,000 in dues from the Company<SUP>7</SUP> and makes general disclosures about its governance of lobbying and political expenditures,<SUP>8</SUP>
the Company does not disclose any information about the alignment of its direct and indirect lobbying on climate policy with its own net-zero
goals.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>3</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://corpgov.law.harvard.edu/2021/08/11/2021-proxy-season-review-shareholder-proposals-on-environmental-matters/</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>4</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://www.issgovernance.com/file/publications/2021-climate-survey-summary-of-results.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>5</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://www.climateaction100.org/wp-content/uploads/2021/03/Climate-Action-100-Benchmark-Indicators-FINAL-3.12.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>6</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://climate-lobbying.com</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>7</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://s22.q4cdn.com/104708849/files/doc_downloads/political_activity/2022-Contributions-Lobbying-Expenses.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>8</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://ir.tyson.com/esg/political-activity/default.aspx</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Tyson discloses a short list of trade association memberships on its 2023 CDP questionnaire,
but there is no indication of whether that list is inclusive of all of its trade associations that lobby on climate issues.<SUP>9</SUP>
The Company notes membership in the Business Roundtable and the U.S. Chamber of Commerce, but does not evaluate whether those organizations
are aligned with its climate policies and states that Tyson has not attempted to influence the policy positions of either organization
on climate legislation.<SUP>10</SUP> The U.S. Chamber of Commerce has taken a leading role in opposing public policies designed to support
decarbonization and was assigned an E- rating, the second-worst available, by InfluenceMap.<SUP>11</SUP> Among many other actions, the
Chamber opposed the Inflation Reduction Act of 2022,<SUP>12</SUP> widely seen as one of the most impactful climate bills ever passed,<SUP>13</SUP>
and the Security and Exchange Commission&rsquo;s climate disclosure rule, claiming the proposed rule is unprecedented in scope and overly
prescriptive.<SUP>14</SUP> The Business Roundtable also worked against the Inflation Reduction Act and opposed much of the SEC&rsquo;s
proposed climate disclosure rule<SUP>15</SUP> in direct contradiction to its professed commitment, articulated in its 2019 &ldquo;Statement
on the Purpose of a Corporation,&rdquo; to &ldquo;protect the environment by embracing sustainable practices across our businesses.&rdquo;<SUP>16</SUP></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Tyson&rsquo;s CDP list of memberships in trade associations that lobby on climate
issues does not include its membership in the National Association of Manufacturers (NAM).<SUP>17</SUP> However, NAM opposed the Inflation
Reduction Act,<SUP>18</SUP> supported weakened regulations on methane emissions,<SUP>19</SUP> and is generally viewed as lobbying negatively
on climate policy, receiving an E rating from InfluenceMap.<SUP>20</SUP></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">The board&rsquo;s response in the proxy ignores the central issue raised in the resolution,
which asks the board to initiate a review of the lobbying it does related to climate change by the Company and by trade associations and
non-profit organizations to which it contributes. The board merely argues that its existing disclosures are sufficient and that the report
requested by our proposal is &ldquo;duplicative&rdquo; of existing disclosures. However, the Company&rsquo;s current disclosures do not
meet our request to understand how the Company&rsquo;s direct and indirect lobbying activities align with its net-zero climate goals and
what, if anything, the Company does when its lobbying activities do not support those goals.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>9</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://www.cdp.net/en/formatted_responses/responses?campaign_id=83630982&amp;discloser_id=1036655&amp;locale=en&amp;organization_name=Tyson+Foods<BR>
%2C+Inc.&amp;organization_number=19581&amp;program=Investor&amp;project_year=2023&amp;redirect=https%3A%2F%2Fcdp.credit360.com%2Fsurveys%2F2023%2<BR>
Fjwbhd7d6%2F312544&amp;survey_id=82591262</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>10</SUP> <I>Ibid.</I></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>11</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://ca100.influencemap.org/Industry-Associations</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>12</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://www.uschamber.com/economy/coalition-letter-on-the-inflation-reduction-act</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>13</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://time.com/6304143/inflation-reduction-act-us-global-impact/</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>14</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://www.uschamber.com/assets/documents/US-Chamber-comment-on-SEC-Climate-Related-Disclosure_FINAL.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>15</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://www.theguardian.com/environment/2022/aug/19/top-us-business-lobby-group-climate-action-business-roundtable</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>16</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>17</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://ir.tyson.com/files/doc_downloads/governance/2023/2022-Trade-Association-Lobbying-Expenses.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>18</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://nam.org/manufacturers-remain-staunchly-opposed-to-the-inflation-reduction-act-18530/</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>19</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://www.regulations.gov/comment/EPA-HQ-OAR-2021-0317-2251</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>20</SUP> <FONT STYLE="font-size: 10pt; color: blue">https://lobbymap.org/influencer/National-Association-of-Manufacturing-NAM</FONT></P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">The Company&rsquo;s current disclosure of a list of trade association memberships
and minimal disclosure in its CDP questionnaire do not meet our request. The Company&rsquo;s assertion in its CDP response that two of
its trade associations are aligned with its climate goals, when, as stated above, they clearly are not, together with their failure to
include the National Association of Manufacturers in the list of associations that lobby on climate issues shows that the Company&rsquo;s
current disclosures do not fulfill the request of our shareholder proposal.</P>
<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Tyson Foods must have forward-looking public policy on climate in place to allow
the Company to reach its net-zero goals. Yet the board&rsquo;s response sidesteps the importance of Tyson showing leadership by advocating
for positive climate public policy that supports the Company&rsquo;s long-term goals and by examining where its trade association and
other non-profit memberships and payments may conflict with the Company&rsquo;s goals and those of the Paris Agreement.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">We believe additional disclosure would not only help the Company ensure that its
lobbying funds are being spent in ways that support its long-term plans to address climate risk, but also will protect the Company and
its shareowners from the reputational risk of being perceived as sending mixed messages and undercutting climate policy at the state and
federal level.</P>

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<P STYLE="font: 12pt Times New Roman; margin: 0pt 0; background-color: #B8CCE3"><B>CONCLUSION</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman; margin: 0pt 0; text-indent: 0in">As long-term investors in Tyson Foods, we believe that the
report we request would be in the best interest of the Company and its shareowners, ensuring that the Company is working across the enterprise
toward its long-term climate goals. The assessment we request would ensure that all public policy efforts supported by Tyson are working
in tandem to meet the company&rsquo;s ambitious climate targets and would help to prevent reputational risk from misalignments between
the company&rsquo;s own policies and negative positions taken by its trade associations. Issuing the requested report would allow our
Company to meet not only the expectations of investors, but also join the leaders among its peers in the business community. We urge you
to vote &ldquo;YES&rdquo; on this shareholder proposal.</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">THE FOREGOING INFORMATION MAY BE DISSEMINATED TO SHAREHOLDERS VIA TELEPHONE, U.S.
MAIL, E-MAIL, CERTAIN WEBSITES AND CERTAIN SOCIAL MEDIA VENUES, AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE OR AS A SOLICITATION
OF AUTHORITY TO VOTE YOUR PROXY. THE COST OF DISSEMINATING THE FOREGOING INFORMATION TO SHAREHOLDERS IS BEING BORNE ENTIRELY BY ONE OR
MORE OF THE CO-FILERS. PROXY CARDS WILL NOT BE ACCEPTED BY ANY CO-FILER. PLEASE DO NOT SEND YOUR PROXY TO ANY CO-FILER. TO VOTE YOUR PROXY,
PLEASE FOLLOW THE INSTRUCTIONS ON YOUR PROXY CARD<I>.</I></P>


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