Cannell Capital Withdraws Director Nominations for Lee Enterprises

Alta, Wyoming–(Newsfile Corp. – February 12, 2026) – Pleiades Partners LLC (“Pleiades”), an affiliate of Cannell Capital LLC, today withdrew its Notice of Nomination of Director Candidates for the 2026 Annual Meeting of Stockholders of Lee Enterprises, Incorporated (“LEE”). The original notice was transmitted to LEE on November 25, 2025, and Cannell Capital LLC issues the following statement:

Such withdrawal frustrates us and likely most other owners of LEE, owners which have watched as most of the present Board of Directors has presided over a fall of 99% in the stock price of LEE from November 2004 to the present price – a loss of $3 billion.

It frustrates us because we think our nominees are superior to the incumbents, incumbents who turned down a $31 per share offer in November 2021 in favor of the $3.25 control bid which they approved this month. We hope, nay pray, that incoming Chairman David Hoffmann will expeditiously direct some of these Directors to walk the plank.

As a popular British band’s Houses of the Holy reminds us, The Song Remains the Same. It gives us no pleasure to remind you of Cannell Capital’s December 26, 2018, 13D filing for LEE, no succor to us or other injured shareholders to say, “I told you so.”

Source: Cannell Capital LLC

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283645