Blackwells Nominates Highly-Qualified, Independent Slate for Supervalu Board of Directors

NEW YORK–(BUSINESS WIRE)–Blackwells Capital LLC (together with its affiliates, “Blackwells Capital” or “Blackwells”), an alternative investment management firm with ownership representing an approximately 4.9% interest in Supervalu Inc. (NYSE: SVU) (“Supervalu” or the “Company”), today announced it has nominated six highly-qualified, independent candidates for election to Supervalu’s Board of Directors (the “Board”) at the upcoming 2018 Annual Meeting of Shareholders. Blackwells submitted its nominations to the Company on March 20, 2018. Blackwells submitted a broad slate of independent nominees given the significant destruction of shareholder value during the tenure of each current director. Importantly, none of the independent nominees offered by Blackwells has any connection or relationship to Blackwells itself; if elected, the nominees will exercise their strong business judgment independent of any influence from Blackwells.