<SEC-DOCUMENT>0001104659-21-146143.txt : 20211203
<SEC-HEADER>0001104659-21-146143.hdr.sgml : 20211203
<ACCEPTANCE-DATETIME>20211203080919
ACCESSION NUMBER:		0001104659-21-146143
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20211203
DATE AS OF CHANGE:		20211203

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEE ENTERPRISES, Inc
		CENTRAL INDEX KEY:			0000058361
		STANDARD INDUSTRIAL CLASSIFICATION:	NEWSPAPERS:  PUBLISHING OR PUBLISHING & PRINTING [2711]
		IRS NUMBER:				420823980
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0926

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06227
		FILM NUMBER:		211468741

	BUSINESS ADDRESS:	
		STREET 1:		4600 E. 53RD STREET
		CITY:			DAVENPORT
		STATE:			IA
		ZIP:			52807
		BUSINESS PHONE:		5633832100

	MAIL ADDRESS:	
		STREET 1:		4600 E. 53RD STREET
		CITY:			DAVENPORT
		STATE:			IA
		ZIP:			52807

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEE ENTERPRISES, INC
		DATE OF NAME CHANGE:	20050610

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEE ENTERPRISES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<DESCRIPTION>DEFA14A
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<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></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: center"><B>Proxy Statement Pursuant to Section 14(a) of
the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></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 0pt 12pt; text-align: justify; text-indent: -13pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by the Registrant&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed by a Party other than the Registrant&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></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">Check the appropriate box:</P>

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

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<TD STYLE="width: 24pt"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Preliminary Proxy Statement</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24pt"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Confidential, for Use of the Commission Only
(as permitted by Rule 14a-6(e)(2))</B></FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24pt"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Definitive Proxy Statement</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24pt"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Definitive Additional Materials</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24pt"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting Material Pursuant to &sect;240.14a-12</FONT></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: center"><FONT STYLE="font-size: 16pt"><B>LEE ENTERPRISES,
INCORPORATED</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Registrant as Specified In Its Charter)</B></P>

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<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of
Person(s) Filing Proxy Statement, if other than the Registrant)</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Payment of Filing Fee (Check the appropriate box):</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24pt"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">No fee required.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fee computed on table below per Exchange Act
Rules 14a-6(i)(1) and 0-11.</FONT></TD></TR></TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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<TD STYLE="padding-left: 4pt; width: 3%; font-size: 10pt">1)</TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 97%">Title of each class of securities to which transaction applies: <BR>
 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 4pt; font-size: 10pt">2)</TD>
<TD STYLE="border-bottom: Black 1pt solid">Aggregate number of securities to which transaction applies:<BR>
 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 4pt; font-size: 10pt">3)</TD>
<TD STYLE="text-align: justify; border-bottom: Black 1pt solid">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): <BR>
 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 4pt; font-size: 10pt">4)</TD>
<TD STYLE="border-bottom: Black 1pt solid">Proposed maximum aggregate value of transaction:<BR>
 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 4pt; font-size: 10pt">5)</TD>
<TD STYLE="border-bottom: Black 1pt solid">Total fee paid:<BR>
 &nbsp;</TD></TR>
</TABLE>

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<TD STYLE="width: 24pt; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fee
paid previously with preliminary materials.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 22.5pt"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Check box if any part of the fee is offset as
provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the Form or Schedule and the date of its filing.</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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<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 4pt; width: 3%; font-size: 10pt; text-align: justify">1)</TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 97%">Amount Previously Paid:<BR>
 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 4pt; font-size: 10pt; text-align: justify">2)</TD>
<TD STYLE="border-bottom: Black 1pt solid">Form, Schedule or Registration Statement No.: <BR>
 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 4pt; font-size: 10pt; text-align: justify">3)</TD>
<TD STYLE="border-bottom: Black 1pt solid">Filing Party: <BR>
 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-left: 4pt; font-size: 10pt; text-align: justify">4)</TD>
<TD STYLE="border-bottom: Black 1pt solid">Date Filed: <BR>
 &nbsp;</TD></TR>
</TABLE>


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<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: center"><B>Lee Enterprises Announces that Director Nomination
Notice from Alden is Invalid</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Alden Not Entitled to Nominate Board Candidates
for the 2022 Annual Meeting</I></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>DAVENPORT, Iowa </B>&ndash; December 3, 2021 &ndash; Lee Enterprises,
Incorporated (NASDAQ: LEE) (&ldquo;Lee&rdquo; or the &ldquo;Company&rdquo;) announced that the notice submitted by Alden Global Capital,
LLC (together with its affiliates, &ldquo;Alden&rdquo;), which purported to nominate three candidates to stand for election to Lee&rsquo;s
Board of Directors at the Company&rsquo;s 2022 Annual Meeting, is invalid.</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">Lee&rsquo;s Board of Directors thoroughly reviewed Alden&rsquo;s notice
and found that the submission did not meet several essential requirements clearly set forth in Lee&rsquo;s publicly available bylaws.
The Board made the following statement:</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 0pt 0.5in">&ldquo;Lee&rsquo;s bylaws provide a very clear and simple
procedure for investors to nominate candidates for election to Lee&rsquo;s Board of Directors. The nomination procedure and information
requirements in our bylaws are consistent with those of the vast majority of public companies incorporated in Delaware. Over the past
few years, hundreds of investors &ndash; including many that have been advised by Alden&rsquo;s two law firms &ndash; have properly fulfilled
these types of notice requirements and information requests.</P>

<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 0pt 0.5in">Alden, however, failed to meet the most basic and most important
requirement of our director nomination procedure: demonstrating it is eligible to nominate directors. Instead of following the straightforward
process outlined in Lee&rsquo;s bylaws to provide proof that Alden is an eligible shareholder, Alden attempted to circumvent the requirement
by having an unrelated, third-party shareholder send a cover letter attaching an incomplete and internally inconsistent nomination notice
from Alden. In addition, Alden&rsquo;s nomination notice does not comply with several other substantive requirements of Lee&rsquo;s bylaws.</P>

<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 0pt 0.5in">Alden&rsquo;s hasty and convoluted attempt to work around
our simple and common procedure on the eve of the nomination deadline does not meet the clear requirements of Lee&rsquo;s bylaws. Alden&rsquo;s
failure is entirely of its own making. Alden is not entitled to invent its own process for its convenience.</P>

<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 0pt 0.5in">Lee adopted its common procedural and disclosure protections
to ensure the orderly exercise of shareholder rights and the integrity of director elections. The requirements are clearly stated and
have been publicly available for over two years. Lee&rsquo;s Board of Directors, acting as fiduciaries on behalf of all Lee shareholders,
will enforce those procedures and transparency requirements.&rdquo;</P>

<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">Lee&rsquo;s Board has determined that Alden&rsquo;s attempted nomination
notice does not satisfy the clear requirements of its bylaws. Because Alden failed to deliver a notice that complies with Lee&rsquo;s
bylaw requirements prior to the nomination deadline, Alden may not nominate any candidates for election to the Board at the 2022 Annual
Meeting. Accordingly, Lee will not recognize Alden&rsquo;s nominations, and any proxies submitted, or votes cast, for the election of
Alden&rsquo;s director candidates will be disregarded.</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">A copy of the Company&rsquo;s letter to Alden, detailing the deficiencies
in its submission, will be filed with the U.S. Securities and Exchange Commission (&ldquo;SEC&rdquo;) on Form 8-K today.</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">As previously disclosed, on November 22, 2021, Alden made an unsolicited
non-binding proposal to purchase the Company for $24.00 per share in cash. In consultation with its financial and legal advisors, Lee&rsquo;s
Board of Directors is evaluating Alden&rsquo;s proposal to determine the course of action that it believes is in the best interests of
the Company and Lee shareholders.</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">Lee will announce the date of the 2022 Annual Meeting and file proxy
materials with the SEC in due course. There is no need for Lee shareholders to take any action at this time.</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>About Lee Enterprises</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lee Enterprises is a major subscription and advertising platform and
a leading provider of local news and information, with daily newspapers, rapidly growing digital products and over 350 weekly and specialty
publications serving 77 markets in 26 states. Year to date, Lee&rsquo;s newspapers have average circulation of 1.0 million, and our legacy
website, including acquisitions, reach more than 47 million digital unique visitors. Lee&rsquo;s markets include St. Louis, MO; Buffalo,
NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; Davenport, IA; and Tucson, AZ. Lee Common Stock is traded on NASDAQ under the symbol
LEE. For more information about Lee, please visit www.lee.net.</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>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information provided in this press release may include forward-looking
statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks
and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such
as &ldquo;aims,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;plans,&rdquo; &ldquo;expects,&rdquo; &ldquo;intends,&rdquo; &ldquo;will,&rdquo;
 &ldquo;potential,&rdquo; &ldquo;hope&rdquo; and similar expressions are intended to identify forward-looking statements. These forward-looking
statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect.
Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result
of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the
results expressed or implied by statements in report relating to the Company may be found in the Company&rsquo;s periodic filings with
the SEC, including the factors described in the sections entitled &ldquo;Risk Factors,&rdquo; copies of which may be obtained from the
SEC&rsquo;s website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this
press release.</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>Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company intends to file a proxy statement and accompanying WHITE
proxy card with the SEC with respect to the Company&rsquo;s 2022 Annual Meeting of Shareholders. The Company&rsquo;s shareholders are
strongly encouraged to read such proxy statement, the accompanying WHITE proxy card and other documents filed with the SEC carefully in
their entirety when they become available because they will contain important information. The Company&rsquo;s shareholders will be able
to obtain any proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the
SEC free of charge at the SEC&rsquo;s website at www.sec.gov. Copies will also be available free of charge at the Company&rsquo;s website
at www.lee.net.</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>Certain Information Regarding Participants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company, its directors and certain of its executive officers will
be participants in the solicitation of proxies from the Company&rsquo;s shareholders in connection with the matters to be considered at
the Company&rsquo;s 2022 Annual Meeting of Shareholders. Information about the Company&rsquo;s directors and executive officers is available
in the Company&rsquo;s (a) annual report on Form 10-K for the year ended September 27, 2020 filed with the SEC on December 11, 2020 and
(b) proxy statement filed with the SEC on January 15, 2021 with respect to the Company&rsquo;s 2021 Annual Meeting of Shareholders, as
amended by the amendment to the proxy statement filed with the SEC on February 11, 2021. To the extent holdings of the Company&rsquo;s
securities by such directors or executive officers have changed since the amounts printed in the proxy statement, such changes have been
or will be reflected on Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC. Additional information regarding the
identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the
proxy statement and other materials to be filed with the SEC in connection with the Company&rsquo;s 2022 Annual Meeting of Shareholders.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">
    <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 Contact</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IR@lee.net</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(563) 383-2100</P></TD>
    <TD STYLE="width: 40%">
    <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>Media Contact</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jamie Tully/Jenny Gore</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sard Verbinnen &amp; Co</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lee-SVC@sardverb.com</P></TD></TR>
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