<SEC-DOCUMENT>0001214659-24-001210.txt : 20240126
<SEC-HEADER>0001214659-24-001210.hdr.sgml : 20240126
<ACCEPTANCE-DATETIME>20240125190742
ACCESSION NUMBER:		0001214659-24-001210
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240126
DATE AS OF CHANGE:		20240125
EFFECTIVENESS DATE:		20240126

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:		24563613

	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:			Green Century Capital Management, Inc.
		CENTRAL INDEX KEY:			0001491252
		ORGANIZATION NAME:           	
		IRS NUMBER:				043126146
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		114 STATE STREET, SUITE 200
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		617-482-0800

	MAIL ADDRESS:	
		STREET 1:		114 STATE STREET, SUITE 200
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
</SEC-HEADER>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NAME OF REGISTRANT:</B> Tyson Foods, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NAME OF PERSON RELYING ON EXEMPTION:</B> Green
Century Capital Management</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ADDRESS OF PERSON RELYING ON EXEMPTION:</B>
114 State Street, Suite 200, Boston, MA 02109</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1A1A1A"><B>Written materials are submitted
pursuant to Rule 14a-6(g)(1) promulgated under the Securities Exchange Act of 1934.&nbsp;Submission is not required of this filer under
the terms of the Rule but is made voluntarily in the interest of public disclosure and consideration of these important issues.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1A1A1A"><B>&nbsp;</B></P>

<DIV STYLE="padding: 1pt 4pt 1pt 0in; border: black 1pt solid">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Shareholder Proposal on Tyson Foods, Inc. 2024
Proxy Statement:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DEFORESTATION-FREE SUPPLY CHAINS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tyson Foods, Inc. Symbol: TSN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Filed by: Green Century Capital Management</P>

</DIV>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Green Century Capital Management seeks your support for the deforestation
proposal filed at <B>Tyson Foods, Inc. (</B>hereby referred to as <B>&ldquo;</B>Tyson&rdquo; or &ldquo;the Company&rdquo;) in its 2024
proxy statement asking the Company to achieve independently verified deforestation-free supply chains by 2025. The Proponent believes
taking such action would serve the long-term interests of the Company by mitigating potential operational and reputational risks and meeting
evolving investor expectations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Resolved: </B>Shareholders request that Tyson accelerate its efforts
to eliminate deforestation, native vegetation conversion, and primary forest degradation from its supply chains to achieve independently
verified deforestation-free supply chains by 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Supporting Statement</B>: In achieving this
goal, proponents defer to management&rsquo;s discretion but recommend:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Including native vegetation conversion and primary forest degradation in the company&rsquo;s deforestation-free goal.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Disclosing the company&rsquo;s forest footprint and annual reporting of deforestation-free commodity volumes.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Completing a material biodiversity dependency and impact assessment in line with the Task Force for Nature Related Financial Disclosures
(TNFD) Framework.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Disclosing Scope 3 emissions related to deforestation and other land-use change.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>RATIONALE FOR A &ldquo;YES&rdquo; VOTE</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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><B>Operational risk</B> &ndash; The environmental impacts of deforestation and the climate change it drives will likely compromise
agricultural productivity, which could lead to supply chain disruptions and associated expenses.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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><B>Regulatory Risk</B> &ndash; Increasing deforestation regulation, including the EU Deforestation Regulation which came into force
in 2023, will result in fines and product exclusions to companies that do not disclose and eliminate deforestation within their supply
chains.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD><B>Failure to meet investor expectations</B> &ndash; Investors are increasingly expecting companies to make deforestation-risk disclosures
and report against targets for mitigating these risks. Tyson is not aligned with these expectations.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD><B>Reputational risk</B> &ndash; Failure to adequately address supply chain deforestation exposes Tyson to reputational risks including
public awareness campaigns targeting companies linked to negative environmental impacts.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; border: black 1pt solid"><B>This is not a solicitation
of authority to vote your proxy. Please DO NOT send us your proxy card; Green Century Capital Management is not able to vote your proxies,
nor does this communication contemplate such an event. Green Century Capital Management urges shareholders to vote for Item Number 6 following
the instruction provided on the management&rsquo;s proxy mailing.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BACKGROUND</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B>Biodiversity loss is a systemic
financial risk</B> that threatens the stability of industries dependent on ecosystem services. Because biodiversity helps ensure the resilience
of natural capital assets, its loss reduces the quantity, quality and resilience of ecosystem services.<SUP>1</SUP> According to the
World Economic Forum, over half of the world&rsquo;s gross domestic product (US$44 trillion) is moderately or highly dependent on nature
and its services &ndash; such as the provision of food, fiber and fuel &ndash; and the unprecedented loss of biodiversity places this
value at risk.<SUP>2</SUP></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B>Deforestation drives biodiversity
loss</B>. </FONT>Land use change for the production of commodities such as beef and soy is the main driver of global biodiversity loss.<SUP>3</SUP>
<FONT STYLE="background-color: white">Agricultural expansion drives nearly 90% of global deforestation, and livestock grazing in particular
is responsible for nearly 40% of forest loss.<SUP>4</SUP></FONT> Eliminating deforestation from food companies&rsquo; supply chains
is thus critical to reversing global biodiversity loss by 2030, a cornerstone of the Kunming-Montreal Agreement adopted by 196 countries
under the UN Convention on Biological Diversity in December 2022.<SUP>5</SUP></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Climate change is a systemic risk</B> that threatens the stability
of financial markets.<SUP>6</SUP> Rising temperatures, increased drought, and changing precipitation patterns resulting from climate
change<SUP>7</SUP> pose material financial risks to businesses all along the agricultural supply chain in the form of lower crop yields,
reduced agricultural productivity,<SUP>8</SUP> and increased costs for irrigation and transportation.<SUP>9</SUP> Companies reliant
on agricultural products are exposed to variability of supply as well as price volatility.<SUP>10</SUP></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Deforestation drives climate change. </B>Deforestation accounts
for 15% of global carbon emissions, and the biggest driver is demand for palm oil, soy, beef, leather, timber, and pulp and paper.<SUP>11</SUP>
Emissions from a company&rsquo;s supply chain, including those from deforestation and other land use change, comprise an estimated 87%
of food companies' climate emissions according to CDP,<SUP>12</SUP> and adopting no-deforestation policies for forest-risk commodities
is a common and effective way to reduce these emissions.<SUP>13</SUP></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><B>Mitigating deforestation risk
is likely less costly than perpetuating deforestation.</B> A 2022 joint CDP and Accountability Framework initiative (AFi) report found
that 211 companies disclosing through CDP identified forest-related risks with a potential financial impact of over US<FONT STYLE="color: #222222">$79.2</FONT>
billion if actions are not taken to curb deforestation. By contrast, the complete cost of responding to identified risk was estimated
at only US$6.7 billion by 267 companies, and 182 companies reported forest-related opportunities from taking action on deforestation valued
at over US$50.9 billion.</FONT><SUP>14</SUP></P>

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

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>OPERATIONAL RISK</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Climate change, driven by deforestation, presents operational risk
to Tyson. </B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>1</SUP></FONT><FONT STYLE="color: Black">https://naturalcapitalcoalition.org/wp-content/uploads/2020/03/FramingGuidance_ConsultationMarch2020.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>2</SUP></FONT><FONT STYLE="color: Black">https://www3.weforum.org/docs/WEF_New_Nature_Economy_Report_2020.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>3
</SUP></FONT><FONT STYLE="color: Black">https://wwfint.awsassets.panda.org/downloads/dcf_supply_chains___vision_principles_asks.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>4
</SUP></FONT><FONT STYLE="color: Black">https://www.fao.org/newsroom/detail/cop26-agricultural-expansion-drives-almost-90-percent-of-global-deforestation/en</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>5
</SUP></FONT><FONT STYLE="color: Black">https://www.unep.org/resources/kunming-montreal-global-biodiversity-framework</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>6
</SUP></FONT><FONT STYLE="color: Black">https://www.theregreview.org/2020/11/04/ramani-climate-change-systemic-financial-risk/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>7
</SUP></FONT><FONT STYLE="color: Black">https://climate.nasa.gov/effects/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>8
</SUP></FONT><FONT STYLE="color: Black">https://www.ucsusa.org/resources/climate-change-and-agriculture</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>9
</SUP></FONT><FONT STYLE="color: Black">https://19january2017snapshot.epa.gov/climate-impacts/climate-impacts-transportation_.html</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>10
</SUP></FONT><FONT STYLE="color: Black">https://www.economicshelp.org/blog/4977/economics/problems-of-agriculture-market-failure/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>11
</SUP></FONT><FONT STYLE="color: Black">https://globalcanopy.org/press/business-inaction-on-deforestation-undermines-global-climate-targets/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>12</SUP></FONT><FONT STYLE="color: Black">https://www.wri.org/update/trends-show-companies-are-ready-scope-3-reporting-us-climate-disclosure-rule</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>13</SUP></FONT><FONT STYLE="color: Black">https://engagethechain.org/investor-guide-deforestation-and-climate-change</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>14</SUP></FONT><FONT STYLE="color: Black">https://cdn.cdp.net/cdp-production/cms/reports/documents/000/006/368/original/CDP_AFI_Forest_Report_2022_%2814%29.pdf?1654614758,
p. 19</FONT></P>


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

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

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">In its 2023 10-K, the Company acknowledges that climate change and related
legal and regulatory responses to it &ldquo;may have a long-term adverse impact on our business and results of operations.&rdquo;<SUP>15</SUP>
These include changing weather patterns and decreased agricultural productivity including for all its meat animal products and feed.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Beef and soy are key supply chains for Tyson and can be linked to deforestation
directly and indirectly through feed (the majority of soy is used for animal feed).<SUP>16</SUP> These commodities are subject to price
volatility and changing availability in response to the impacts of climate change. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Land clearance for beef production is a major contributor to climate
change; its carbon intensity increases when linked to deforestation. 31-40% of Tyson&rsquo;s revenue is dependent on cattle products.</B></P>

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><SUP>&#9679;</SUP></TD><TD>Tyson sources beef for its products, including from Brazil, where the risk of cattle-driven deforestation is high.<SUP>17</SUP></TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><SUP>&#9679;</SUP></TD><TD>Meatpackers JBS, Marfrig and Minerva dominate the Brazilian cattle industry, where deforestation linked to indirect suppliers is most
prevalent and the companies do not monitor all indirect supply.<SUP>18</SUP></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Tyson&rsquo;s extensive beef supply chain, including beef with possible
ties to deforestation, contributes to the Company&rsquo;s greenhouse gas emissions and poses operational risk.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The overwhelming majority of Tyson&rsquo;s contribution to climate change
likely comes from its Scope 3 emissions, which include land use change attributable to commodities such as beef and soy.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Deforestation and climate change create volatility in commodity markets,
generate risk for global food security,<SUP>19</SUP> and pose risks to supply chain continuity for companies sourcing agricultural commodities.
Absent a comprehensive no-deforestation target, Tyson may exacerbate systemic risks impacting its long-term financial sustainability.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>REGULATORY RISK</B></TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In its 2023 10-K, Tyson acknowledges that &ldquo;new laws in the European
Union requiring traceability of commodities from source of origin and verification that commodities are deforestation free could impact
commodity sourcing, pricing and our ability to place products in certain markets.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Tyson&rsquo;s current deforestation commitments are inadequate to
address regulatory risk from the European Union Deforestation Regulation (EUDR).</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">EUDR requires that commodities including cattle, soy, and palm oil produced
on or after June 29, 2023, be deforestation and forest-degradation free. From December 30, 2024, Tyson will be prohibited from selling
these commodities in the EU market if they are linked to deforestation.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Tyson&rsquo;s current forest protection commitments state that it will not
achieve deforestation-free beef until 2028 and will not achieve deforestation-free soy and palm until 2030. These dates are significantly
later than Dec 30, 2024, the date by which EUDR requires that imported commodities be deforestation-free.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>15
</SUP></FONT><FONT STYLE="color: Black"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/100493/000010049323000105/tsn-20230930.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/100493/000010049323000105/tsn-20230930.htm</A></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>16
</SUP></FONT><FONT STYLE="color: Black; background-color: white">https://news.mongabay.com/2019/01/brazilian-hunger-for-meat-fattened-on-soy-is-deforesting-the-cerrado-report/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>17
</SUP></FONT><FONT STYLE="color: Black">https://chainreactionresearch.com/report/cattle-driven-deforestation-a-major-risk-to-brazilian-retailers/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>18</SUP></FONT><FONT STYLE="color: Black">https://chainreactionresearch.com/wp-content/uploads/2022/11/JBS-Marfrig-and-Minerva-Unlikely-Compliant-with-Upcoming-EU-Deforestation-Law-1.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>19
</SUP></FONT><FONT STYLE="color: Black; background-color: white">https://www.nytimes.com/2019/08/08/climate/climate-change-food-supply.html</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Tyson&rsquo;s current due diligence on commodity deforestation may
not be adequate to comply with EU Deforestation standards.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">EUDR requires enhanced due diligence on commodity deforestation, including
detailed information ensuring deforestation did not take place, a risk assessment for each commodity, and risk mitigation efforts carried
out by independent surveys and audits. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">EUDR covers illegal deforestation and deforestation which is legal in accordance
with the laws of the production country.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Tyson may face fines and exclusions from the European Union (EU)
market if it does not strengthen its current no-deforestation goals. </B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Tyson may face fines of up to 4% of its EU turnover if it is found to be
non-compliant with European Union Deforestation Regulations by December 30, 2024.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Tyson may also face temporary exclusion from public procurement processes
and public funding, and temporary prohibition or prohibition from the EU if it fails to meet standards required by EUDR.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>FAILURE TO MEET INVESTOR EXPECTATIONS FOR DEFORESTATION RISK DISCLOSURE AND MANAGEMENT</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Institutional investors are increasingly expecting portfolio companies
to provide comprehensive disclosure on material ESG risks.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">In 2023, <B>746 </B>financial institutions with <B>US$136 trillion</B> in
AUM requested nearly <B>15,000</B> companies to disclose environmental data through CDP.<SUP>20</SUP></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">These numbers represent a drastic increase from the previous record highs
in 2022, when <B>263 </B>financial institutions with <B>US$31 trillion</B> in assets under management pressed more than <B>1,400</B> companies
to disclose environmental data through CDP.<SUP>21</SUP></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor expectations for deforestation risk management are evolving.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #202619">&#9679;</FONT></TD><TD>In 2021, over 30 investors with nearly $9 trillion in assets committed to eliminating commodity-driven deforestation from their portfolios
by 2025.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>BlackRock released updated commentary in January 2024 about natural capital as an investment issue, including its expectations for
deforestation risk management, stating: &ldquo;Where natural capital is material to the long-term strategy of companies, we look for public
disclosures to assess risk oversight and to understand how nature-related impacts and dependencies are managed.&rdquo;<SUP>22</SUP></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Tyson has <I>reduced </I>disclosure of its deforestation risk management,
limiting the ability of investors to adequately assess its exposure.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Tyson fails to disclose progress against its no-deforestation or responsible sourcing goals either in its 2022 Sustainability Report,
CDP Forest Report, 2023 10-K, or other publicly available materials.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Between its 2021 and 2022 Sustainability Reports, Tyson reduced its deforestation-related disclosures.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>20
</SUP></FONT><FONT STYLE="color: Black">https://www.cdp.net/en/investor/request-environmental-information</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>21
</SUP></FONT><FONT STYLE="color: Black">https://www.cdp.net/en/articles/investor/a-record-263-financial-institutions-with-us31-trillion-demand-environmental-data-from-1400-non-disclosing-companies</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>22
</SUP></FONT><FONT STYLE="color: Black">https://www.blackrock.com/corporate/literature/publication/blk-commentary-engagement-on-natural-capital.pdf</FONT></P>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">&cir;</TD><TD>Tyson's 2021 Sustainability Report references an intention to evaluate and update its Commodity Action Plans (CAPs) for specific countries.
The 2022 report contains no such evaluation or updates and instead asserts an intent to update the Company&rsquo;s Forest Risk Assessment
as well as a &quot;plan to reassess our deforestation goals and CAPs&rdquo; with no target date for completion of either, nor a progress
report against existing goals.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">&cir;</TD><TD>The Company committed in 2021 to ask its pulp, paper and packaging suppliers to verify that any virgin packaging content from &ldquo;jurisdictions
of concern&rdquo; was sustainably certified,<SUP>23</SUP> but in 2022 scales back this ambition without data or narrative reporting,
and says merely that it is &ldquo;stating our preference&rdquo; for such certifications from the Sustainable Forest Initiative (SFI) and
the Forest Stewardship Council (FSC).<SUP>24</SUP></TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD><B>REPUTATIONAL RISKS </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In its 2023 10-K, Tyson notes that &ldquo;Changes in consumer preference
and failure to maintain favorable consumer perception of our brands and products could negatively impact our business.<SUP>25</SUP></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Growing concern about sustainability-related issues is shifting
consumer preferences</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">According to a 2020 Capgemini study, 79% of consumers are changing their
purchasing preferences based on sustainability.<SUP>26</SUP></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Negative attention from media and NGO campaigns is increasing consumer awareness
of deforestation as an environmental concern. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Tyson's lack of a comprehensive policy to prevent deforestation in its supply
chains heightens potential reputational damage. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Companies linked to deforestation may receive negative attention,
impairing brand reputation.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Major media outlets including <I>The New York Times,</I><SUP>27</SUP> <I>The Washington Post<B><SUP>28</SUP></B></I> and <I>Bloomberg</I><SUP>29</SUP>
are increasingly covering deforestation, exposing laggard companies to reputational risk.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Chain Reaction Research, which analyzes financial risk in soft commodity supply chains, has calculated that reputation events can
impact company value by as much as 30 percent.<SUP>30</SUP></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Influential NGOs have targeted companies with exposure to deforestation in high-profile campaigns. Burger King, for example, was the
subject of an anti-deforestation campaign led by a coalition of NGOs<SUP>31</SUP> that prompted articles linking the Company to deforestation
in the <I>BBC<B><SUP>32</SUP></B></I> and <I>the Guardian.</I><SUP>33</SUP></TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>23
</SUP></FONT><FONT STYLE="color: Black">https://www.tysonfoods.com/sites/default/files/2023-04/Tyson_2021_Sustainability_Report.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>24
</SUP></FONT><FONT STYLE="color: Black">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, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>25
</SUP></FONT><FONT STYLE="color: Black"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/100493/000010049323000105/tsn-20230930.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/100493/000010049323000105/tsn-20230930.htm</A></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>26
</SUP></FONT><FONT STYLE="color: Black">https://www.capgemini.com/wp-content/uploads/2020/07/20-06_9880_Sustainability-in-CPR_Final_Web-1.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>27
</SUP></FONT><FONT STYLE="color: Black">https://www.nytimes.com/2023/01/04/magazine/amazon-tipping-point.html?action=click&amp;module=RelatedLinks&amp;pgtype=Article</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>28
</SUP></FONT><FONT STYLE="color: Black">https://www.washingtonpost.com/business/2024/01/18/brazil-amazon-jbs-fund-greenwashing-cattle-climate/2145743a-b5e0-11ee-b285-0853d4d1b92f_story.html</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>29
</SUP></FONT><FONT STYLE="color: Black">https://www.bloomberg.com/news/articles/2023-12-09/uk-pushes-to-delink-supermarket-supply-chains-from-deforestation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>30
</SUP></FONT><FONT STYLE="color: Black">https://chainreactionresearch.com/wp-content/uploads/2019/05/Reputation-Risk-and-FMCGs.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>31
</SUP></FONT><FONT STYLE="color: Black">http://www.mightyearth.org/burger-king-commits-to-stop-destroying-rainforestsin-13-years/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>32
</SUP></FONT><FONT STYLE="color: Black">https://www.bbc.com/news/uk-49973997</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black"><SUP>33
</SUP></FONT><FONT STYLE="color: Black">https://www.theguardian.com/environment/2017/mar/01/burger-king-animal-feed-sourced-from-deforested-lands-in-brazil-and-bolivia</FONT></P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>RESPONSE TO BOARD OF DIRECTORS&rsquo; STATEMENT IN OPPOSITION</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In its opposition statement, Tyson asserts that the requested assessment,
disclosure, and reporting are unnecessary and duplicative because &ldquo;we already report on deforestation risks and progress towards
our forest protection goals.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>This statement is misleading. </B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company&rsquo;s most recent 2022 Sustainability Report exhibits a notable
lack of progress reporting against the no-deforestation and &ldquo;responsible sourcing&rdquo; goals laid out in the Company's 2021 Sustainability
Report; instead, the Company references a plan to update its Forest Risk Assessment and &quot;reassess our deforestation goals and CAPs&rdquo;
with no target completion date for either. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; 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: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">In its most recent CDP Forests Report for all commodities except timber,
Tyson fails to mention the no-deforestation or &ldquo;responsible sourcing&rdquo; goals laid out in its 2021 Sustainability Report, nor
does it report on progress theretoward.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company also states that it regularly engages with shareholders
and other stakeholders on these and other important land stewardship issues. Despite repeated outreach since August of 2022, the Proponent
received little to no response on the issues raised by this proposal.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>CONCLUSION</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tyson lacks sufficient policies and disclosure of progress to address
the risks posed by deforestation in its supply chain. To remedy this, the Proponent requests the Company accelerate its efforts to eliminate
deforestation, native vegetation conversion, and primary forest degradation from its supply chains to achieve independently verified deforestation-free
supply chains by 2025. Such a target would not only help Tyson to address operational and reputational risk but would also meet evolving
investor expectations regarding deforestation risk disclosure and management.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shareholders are urged to vote FOR the proposal asking Tyson to
achieve independently verified deforestation-free supply chains by 2025.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>For questions regarding this proposal, please contact Annie Sanders,
Green Century Capital Management, <FONT STYLE="color: Black">asanders@greencentury.com</FONT></I>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; border: black 1pt solid"><B>This is not a solicitation
of authority to vote your proxy. Please DO NOT send us your proxy card; Green Century Capital Management is not able to vote your proxies,
nor does this communication contemplate such an event. Green Century Capital Management urges shareholders to vote for Item Number 6 following
the instruction provided on the management&rsquo;s proxy mailing.</B></P>



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