TO:     ALL RECORD HOLDERS AND ALL BENEFICIAL HOLDERS OF PAPA MURPHY'S HOLDINGS, INC. ("PAPA MURPHY'S") COMMON STOCK WHO PURCHASED, SOLD, OR HELD SUCH STOCK DURING THE PERIOD FROM AND INCLUDING, April 25, 2019, the date of the Tender Offer and the date of filing of the Schedule 14D-9, through and including May 22, 2019, the date the Tender Offer expired, INCLUDING ANY AND ALL OF THEIR RESPECTIVE PREDECESSORS, SUCCESSORS, TRUSTEES, EXECUTORS, ADMINISTRATORS, ESTATES, LEGAL REPRESENTATIVES, HEIRS, ASSIGNS AND TRANSFEREES.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Western District of Washington, Tacoma Division, that a hearing will be held on May 2, 2022, at 11:00 a.m., before the Honorable Benjamin H. Settle.  Settlement Class Members should check the Settlement Class website in advance of the Final Approval Hearing to determine whether that hearing will occur in person at the United States District Court for the Western District of Washington, Tacoma Division, 1717 Pacific Avenue, Tacoma, WA 98402, or via a remote link.  The hearing will be held for the purpose of determining: (1) whether the proposed Settlement of the Litigation for $2.4 million should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice and releasing the Released Claims against Defendants and Defendants' Released Parties; (3) whether final certification of the Settlement Class should be granted; (4) whether the Plan of Allocation for the Net Settlement Fund is fair, reasonable, and adequate and should be approved; and (5) whether the application of Lead Counsel for the payment of attorneys' fees and expenses, and any award to Lead Plaintiff pursuant to 15 U.S.C. §78u-4(a)(4) should be approved.

IF YOU PURCHASED, SOLD, OR HELD PAPA MURPHY'S COMMON STOCK DURING THE PERIOD FROM AND INCLUDING APRIL 25, 2019, THROUGH AND INCLUDING MAY 22, 2019 (THE "SETTLEMENT CLASS PERIOD"), YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION, INCLUDING THE RELEASE AND EXTINGUISHMENT OF CLAIMS YOU MAY POSSESS RELATING TO YOUR PURCHASE OR ACQUISITION OF PAPA MURPHY'S COMMON STOCK DURING THE SETTLEMENT CLASS PERIOD.  If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Papa Murphy's Holdings, Inc. Securities Litigation, Claims Administrator, 1-866-742-4955, or on the Internet at www.rg2claims.com/papamurphy.html.  If you are a Settlement Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail (postmarked no later than May 28, 2022), or online at www.rg2claims.com/papamurphy.html no later than May 28, 2022, establishing that you are entitled to recovery.

If you purchased, sold, or held Papa Murphy's common stock during the Settlement Class Period and you desire to be excluded from the Settlement Class, you must submit a request for exclusion so that it is received no later than April 6, 2022, in the manner and form explained in the detailed Notice referred to above. All Members of the Settlement Class who do not timely and validly request exclusion from the Settlement Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation of Settlement.

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON
TACOMA DIVISION
1717 Pacific Avenue, Room 3100
Tacoma, WA 98402-3200

Lead Counsel:
Monteverde & Associates PC
Juan E. Monteverde
The Empire State Building
350 Fifth Avenue, Suite 4405
New York, NY 10118
[email protected]

Counsel for Defendants: 
Perkins Coie LLP
Ronald L. Berenstain
Sean C. Knowles
1201 3rd Ave., Suite 4900
Seattle, WA 98101-3099
[email protected] 
[email protected]

Dated: January 28, 2022                                             BY ORDER OF THE COURT 
                                                                                    UNITED STATES DISTRICT COURT
                                                                                    WESTERN DISTRICT OF WASHINGTON 
                                                                                    TACOMA DIVISION