Middleby Corporation Adopts Executive Severance Plan and Amends Value Creation Incentive Plan

Middleby Corporation has adopted The Middleby Corporation Executive Severance Plan (ESP) and amended its Value Creation Incentive Plan (VCIP). The ESP provides severance benefits to named executive officers and other executives upon termination of employment without cause or resignation for good reason, with benefits varying based on termination circumstances (change in control or not) and executive tier. Benefits include salary continuation, pro-rata bonus, and COBRA health care continuation. The amended VCIP allows for cash incentive bonuses based on performance goals for designated performance periods. These changes were effective May 20, 2026.