Kanen Wealth Management calls for sale of Zevia to Maximize shareholder value

COCONUT CREEK, Fla., Aug. 14, 2026 (GLOBE NEWSWIRE) -- Kanen Wealth Management LLC, as owner of approximately 4% of the Company’s outstanding shares, urges the Board to immediately initiate and publicly announce a formal review of strategic alternatives, including a sale of the Company. The Board should establish an independent Special Committee and retain a qualified financial advisor to conduct a good-faith process with credible bidders. In our view, Zevia is worth $2.75 to $3.75 per share in a sale — more than double the current price at the midpoint — even after fully deducting the Company's Tax Receivable Agreement liability.(1)

We believe Zevia possesses genuinely valuable assets: nearly two decades of brand equity, national distribution across approximately 39,000 doors, and first-mover credibility in naturally sweetened, zero-sugar soda. However, we believe the Board and management team have failed to capitalize on the largest shift the soda aisle has seen in a generation. After four years of evidence, we no longer believe the current Board and management team will be able to deliver for shareholders.