Luby's, Inc. Reminds Stockholders that the Last Day of Trading Ends Friday, May 27, 2022, at 3:00 p.m. Central Daylight Time

HOUSTON, May 20, 2022 /PRNewswire/ -- Luby's, Inc. (NYSE: LUB) (the "Company"), which is liquidating and winding down pursuant to a plan of liquidation and dissolution (the "Plan"), is reminding holders of the Company's common stock that, in connection with the transfer of the Company's remaining assets and liabilities to a liquidating trust to be known as LUB Liquidating Trust (the "Trust"), the last day of trading of the Company's common stock on the New York Stock Exchange (the "NYSE") will be Friday, May 27, 2022. The transfer of the Company's remaining assets and liabilities to the Trust is expected to occur at 5:00 p.m. Eastern Daylight time on May 31, 2022.  At such time, holders of the Company's common stock will automatically receive one unit in the Trust ("Unit") for each share of the Company's common stock held by such holder.  As previously disclosed, Units will generally not be transferable except by will, intestate succession or operation of law. For tax purposes, the fair value of each Unit in the Trust received by Company stockholders at such time, which reflects the value of the remaining assets of the Company (net of liabilities), will equal the average of the high and low trading prices for shares of the Company's common stock on the last three days on which the shares are traded on the NYSE.