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<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 1. Description of Business</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     U.S.
Premium Beef (USPB or the Company) was formed as a closed marketing cooperative on July 1, 1996, and was then known as U.S. Premium
Beef, Ltd. Its mission is to increase the quality of beef and long-term profitability of cattle producers by creating a fully integrated
producer-owned beef processing system that is a global supplier of high quality, value-added beef products responsive to consumer
desires.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     On
December 1, 1997, USPB became operational by acquiring 25.4966% of Farmland National Beef Packing Co., L.P. (FNB), a partnership
owned by USPB and Farmland Industries, Inc. (Farmland). USPB acquired an additional 3.29% partnership interest in February 1998,
bringing its ownership to 28.7866% of FNB. Farmland owned the remaining 71.2134%.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     On
May 31, 2002, Farmland and four of its subsidiaries filed voluntary petitions to reorganize under Chapter 11 of the United States
Bankruptcy Code. In the fourth quarter of fiscal year 2003, USPB acquired a controlling interest in the former FNB, now National
Beef Packing Company, LLC (NBP).</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     On
August 18, 2004, the shareholders of U.S. Premium Beef, Ltd. approved the merger of the cooperative into a wholly-owned subsidiary,
U.S. Premium Beef, Inc., a Delaware corporation. The merger was effective on August 29, 2004. The Delaware corporation then, in
a statutory conversion authorized under Delaware law, converted into a Delaware limited liability company (see Note 9). Following
the effective date of the merger and the statutory conversion, the business of the cooperative continues in the limited liability
company form of business organization.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     On
December 5, 2011, USPB entered into a Membership Interest Purchase Agreement with Leucadia National Corporation (Leucadia), NBP,
NBPCo Holdings, LLC (NBPCo), TKK Investments, LLC (TKK), TMKCo, LLC (TMKCo), and TMK Holdings, LLC (TMK Holdings) (Purchase Agreement).
The Purchase Agreement provided for (i) Leucadia to purchase 56.2415% of the membership interests in NBP (National Interests) from
the Company for $646,777,342 and 19.8775% of the National Interests from NBPCo for $228,591,527; (ii) pursuant to pre-existing
put rights, NBP to purchase from TKK and TMKCo all the National Interests owned by TKK and TMKCo for $75,946,955; and (iii) Leucadia
to sell to TMK Holdings 0.6522% of the National Interests for $7,500,000 (Leucadia Transaction). Upon consummation of the Leucadia
Transaction, the parties owned the following percentage membership interests in NBP: Leucadia 78.9477%; USPB 15.0729%; NBPCo 5.3272%;
and TMK Holdings 0.6522%.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     In
connection with its approval of the Purchase Agreement, the Company’s Board of Directors adopted a change to the Company’s
fiscal year, which became effective upon closing. The Leucadia Transaction closed on December 30, 2011 and the Company’s
fiscal year-end changed from the last Saturday in August to the last Saturday in December. Beginning with fiscal year 2012 the
Company will file annual reports for each 52 week or 53 week period ended on the last Saturday, in December.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     NBP
is one of the largest beef processing companies in the U.S., accounting for approximately 12.5% of the market. NBP processes and
markets fresh boxed beef, consumer-ready beef, beef byproducts and wet blue leather for domestic and international markets. Based
in Kansas City, Missouri, NBP had about 8,400 employees at December 26, 2015 and generated total revenues of $7.4 billion in 2015.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
largest share of NBP’s revenue, about 91%, is generated from the sale of fresh and chilled boxed beef products. NBP also
generates revenues through value-added production with its consumer-ready products. In addition, NBP operates one of the largest
wet blue tanning facilities in the world (wet blue tanning refers to the first step in processing raw and brine-cured hides into
tanned leather), selling processed hides to tanners that produce finished leather for the automotive, luxury goods, apparel and
furniture industries. Other streams of revenue include sales through its subsidiary, Kansas City Steak Company, LLC, which sells
portioned beef and other products to customers in the food service and retail channels, as well as direct to consumers through
internet, direct mail and direct response television, and service revenues generated by National Carriers, Inc., a wholly owned
transportation and logistics company that is one of the largest refrigerated and livestock carrier operations in the U.S. and transports
products for NBP and a variety of other customers. NBP’s profitability typically fluctuates seasonally as well as cyclically,
with relatively higher margins in the spring and summer months and during times of ample cattle availability.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     On
December 30, 2011, USPB entered into a new Cattle Purchase and Sale Agreement with NBP. Per the terms and conditions of the Agreement,
NBP is required to purchase through USPB from its owners and associates, and USPB is required to sell and deliver from its unitholders
and associates to NBP, a base amount of 735,385 (subject to adjustment) head of cattle per year. In fiscal years 2015, 2014 and
2013, USPB and NBP agreed to increase the number of cattle that USPB’s unitholders and associates could deliver during USPB’s
delivery year by up to 10%. During fiscal years 2015, 2014, and 2013, USPB’s owners and associates provided approximately
28%, 23%, and 21%, respectively, of NBP’s total cattle requirements. The purchase price for the cattle is determined by pricing
grids, which, at all times, are required to be no less favorable than any other pricing grid being utilized by NBP and the pricing
grid shall be competitive with NBP’s major competitors for the purchase of cattle. NBP believes the pricing grids are based
on terms that could be obtained from an unaffiliated party. The cattle supply agreement extends through December 31, 2017, with
automatic one year extensions on each December 30, unless either party provides a notice not to extend sixty days prior to the
annual anniversary date. NBP also purchased additional cattle from certain USPB unitholders and associates outside of the cattle
supply agreement.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     USPB
sources all of its cattle requirements from its unitholders and associates. Unitholders enter into Uniform Cattle Delivery and
Marketing Agreements and are obligated to deliver a designated number of cattle to USPB during the delivery year. The agreements
carry a term of five years and have an evergreen renewal provision. Both agreements provide for minimum quality standards, delivery
variances, and termination provisions, as defined.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 2. Basis of Presentation and Accounting
Policies.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Basis of Presentation and Consolidation</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     As
a result of the Leucadia Transaction, which closed December 30, 2011, USPB’s investment in NBP is accounted for using the
equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or operational
control.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Fiscal Year</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     With
the closing of the Leucadia Transaction on December 30, 2011, the Company’s fiscal year-end changed from the last Saturday
in August to the last Saturday in December. Beginning with fiscal year 2012, the Company will file annual reports for each 52 week
or 53 week period ended on the last Saturday in December.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Use of Estimates</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United
States of America, using management’s best estimates and judgments where appropriate. These estimates and judgments affect
the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial
statements.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The estimates
and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results
could differ materially from these estimates and judgments.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Cash and Cash Equivalents</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of
December 26, 2015 and December 27, 2014, the Company had cash and cash equivalents of $85.2 million and $92.3 million, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Investment in National Beef Packing
Company, LLC</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     As
a result of the Leucadia Transaction, beginning on December 31, 2011, USPB’s 15.0729% investment in NBP accounted for using
the equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or
operational control. In December 2015, USPB contributed $3.8 million of additional capital to NBP to purchase 33.97 NBP units and
maintain its 15.0729% ownership percentage.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     USPB
conducted an evaluation to determine if its investment in NBP was impaired as of the end of the fiscal year in accordance with
ASC 323 Investments Equity Method and Joint Ventures. The evaluation included both quantitative and qualitative factors. The quantitative
approach computed the fair value of the investment using market based and discounted cash flow valuation approaches, and resulted
in a fair value that exceeded the carrying value. As a result of the analysis, USPB concluded that the carrying value of its investment
in NBP was not impaired as of December 26, 2015.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Property, Plant, and Equipment</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Property,
plant, and equipment are recorded at cost. Property, plant, and equipment are depreciated principally on a straight-line basis
over the estimated useful life (based upon original acquisition date) of the individual asset by major asset class as follows:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td style="width: 69%; padding: 0.75pt"> </td>
<td style="width: 31%; padding: 0.75pt"> </td></tr>
<tr style="vertical-align: top; background-color: #CCFFFF">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Buildings and improvements</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">15 to 25 years</font></td></tr>
<tr style="vertical-align: top">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Machinery and equipment</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">2 to 15 years</font></td></tr>
<tr style="vertical-align: top; background-color: #CCFFFF">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Furniture and fixtures</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">3 to 5 years</font></td></tr>
<tr style="vertical-align: top">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Trailers and automotive equipment</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">2 to 4 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Upon
disposition of these assets, any resulting gain or loss is included in other, net. Major repairs and maintenance costs that extend
the useful life of the related assets are capitalized. Normal repairs and maintenance costs are charged to operations.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     A
summary of cost and accumulated depreciation for property, plant, and equipment as of December 26, 2015 and December 27, 2014 follows
(thousands of dollars):</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">December 26,<font style="font-weight: normal"> </font></td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">December 27,<font style="font-weight: normal"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">2015<font style="font-weight: normal"> </font></td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">2014<font style="font-weight: normal"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="width: 61%; text-align: left; font-weight: bold"><font style="font-weight: normal">Land and improvements </font></td>
<td style="width: 6%; text-align: left; font-weight: bold; text-indent: 3pt"><font style="font-weight: normal">$ </font></td>
<td style="width: 13%; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="width: 1%; text-align: right; font-weight: bold"> </td>
<td style="width: 6%; text-align: left; font-weight: bold; text-indent: 3pt"><font style="font-weight: normal">$ </font></td>
<td style="width: 13%; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Building and improvements </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Machinery and equipment </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">24 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">37 </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Furniture and fixtures </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">140 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">126 </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Trailers and automotive equipment </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">59 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">57 </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Construction in process </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 11.95pt"><font style="font-weight: normal">Total property, plant, and equipment, at cost </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">223 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">220 </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Accumulated depreciation </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">175 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">215 </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 11.95pt"><font style="font-weight: normal">Property, plant, and equipment, net </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">48 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">5 </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Depreciation
expense was immaterial for fiscal years ended December 26, 2015 and December 27, 2014.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Overdraft Balances</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     USPB
utilizes a controlled disbursement account to fund cash distribution checks presented for payment by the holder. Checks issued
pending clearance that result in overdraft balances for accounting purposes are included in patronage notices payable and distributions
payable and the change in the related balances are reflected in financing activities on the consolidated statement of cash flows.
Overdraft balances totaled $0.1 million and $0.1 million as of December 26, 2015 and December 27, 2014, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Income Taxes</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Effective
August 29, 2004, the Company converted to an LLC, and under this structure, taxes are not provided at the Company level because
the results of operations are included in the taxable income of the individual members.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Selling, General, and Administrative</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Selling
expenses consist primarily of salaries, bonuses, phantom unit option expense, trade promotions, advertising, commissions and other
marketing costs. General and administrative costs consist primarily of general management, insurance and professional expenses.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Noncompetition Payments</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
former CEO’s employment agreement provided for him to receive noncompetition payments in connection with the Leucadia transaction.
During calendar years 2015 and 2014, the former CEO was paid $849,911 and $847,334, respectively, in noncompetition payments. He
will continue to receive noncompetition payments of approximately $850,000 per year during calendar years 2016 through 2021.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
current CEO’s employment agreement provides for him to receive noncompetition payments for a twelve month period following
his termination of employment with USPB.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     As
of December 26, 2015 and December 27, 2014, the Company had accrued $4.7 million and $5.5 million, respectively, for the noncompetition
agreements.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Earnings Per Unit</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Under
the LLC structure, earnings of the Company are to be distributed to unitholders based on their proportionate share of underlying
equity, and, as a result, earnings per unit (EPU) has been presented in the accompanying Consolidated Statement of Operations and
in the table that follows.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Basic
EPU excludes dilution and is computed by first allocating 10% of net income or loss attributable to USPB to Class A units and the
remaining 90% is allocated to Class B units. Net income or loss allocated to the Class A and Class B units is then divided by the
weighted-average number of Class A and Class B units outstanding for the period to determine the basic EPU for each respective
class of unit.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Diluted
EPU reflects the potential dilution that could occur if the purchase rights or appreciation right provided for in the former CEO’s
employment agreement were exercised. In April 2014, the former CEO exercised his right to receive unit appreciation rights on his
20,000 Class A phantom units. The diluted loss per Class A unit calculations for fiscal year 2013 in the following table excludes
the effect of the 20,000 Class A unit purchase rights noted above as the effect of including them would have been anti-dilutive
to the loss per Class A unit calculation. There are no other potentially dilutive Class A or Class B units outstanding.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold">Loss Per Unit Calculation<font style="font-weight: normal"> </font></td>
<td colspan="9" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">52 weeks ended</td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">(thousands of dollars, except unit and per unit data) </font></td>
<td colspan="2" nowrap="nowrap" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">December 26, 2015</td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" nowrap="nowrap" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">December 27, 2014</td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="3" nowrap="nowrap" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">December 28, 2013</td></tr>
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; width: 56%">Basic loss per unit:<font style="font-weight: normal"> </font></td>
<td style="width: 3%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 3%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 2%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Loss attributable to USPB available to </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">unitholders (numerator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class A </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2,132</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(904</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1,120</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class B </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(19,184</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(8,135</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(10,076</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Weighted average outstanding units (denominator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class A </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class B </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Per unit amount </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class A </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(2.90</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.23</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.52</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class B </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(25.40</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(10.77</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(13.34</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold">Diluted loss per unit:<font style="font-weight: normal"> </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Loss attributable to USPB available to </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">unitholders (numerator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class A </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2,132</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(904</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1,120</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class B </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(19,184</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(8,135</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(10,076</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Weighted average outstanding Class A units </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Effect of dilutive securities - Class A unit options </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">Units (denominator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Weighted average outstanding Class B units </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Effect of dilutive securities - Class B unit options </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">Units (denominator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Per unit amount </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class A </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(2.90</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.23</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.52</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class B </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(25.40</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(10.77</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(13.34</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
</table>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Basis of Presentation and Consolidation</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     As
a result of the Leucadia Transaction, which closed December 30, 2011, USPB’s investment in NBP is accounted for using the
equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or operational
control.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Fiscal Year</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     With
the closing of the Leucadia Transaction on December 30, 2011, the Company’s fiscal year-end changed from the last Saturday
in August to the last Saturday in December. Beginning with fiscal year 2012, the Company will file annual reports for each 52 week
or 53 week period ended on the last Saturday in December.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Use of Estimates</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United
States of America, using management’s best estimates and judgments where appropriate. These estimates and judgments affect
the reported amounts of assets and liabilities and disclosure of the contingent assets and liabilities at the date of the financial
statements.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">The estimates
and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results
could differ materially from these estimates and judgments.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Cash and Cash Equivalents</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of
December 26, 2015 and December 27, 2014, the Company had cash and cash equivalents of $85.2 million and $92.3 million, respectively.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Investment in National Beef Packing
Company, LLC</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     As
a result of the Leucadia Transaction, beginning on December 31, 2011, USPB’s 15.0729% investment in NBP accounted for using
the equity method of accounting as the Company has the ability to exercise significant influence, but does not have financial or
operational control. In December 2015, USPB contributed $3.8 million of additional capital to NBP to purchase 33.97 NBP units and
maintain its 15.0729% ownership percentage.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     USPB
conducted an evaluation to determine if its investment in NBP was impaired as of the end of the fiscal year in accordance with
ASC 323 Investments Equity Method and Joint Ventures. The evaluation included both quantitative and qualitative factors. The quantitative
approach computed the fair value of the investment using market based and discounted cash flow valuation approaches, and resulted
in a fair value that exceeded the carrying value. As a result of the analysis, USPB concluded that the carrying value of its investment
in NBP was not impaired as of December 26, 2015.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Property, Plant, and Equipment</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Property,
plant, and equipment are recorded at cost. Property, plant, and equipment are depreciated principally on a straight-line basis
over the estimated useful life (based upon original acquisition date) of the individual asset by major asset class as follows:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td style="width: 69%; padding: 0.75pt"> </td>
<td style="width: 31%; padding: 0.75pt"> </td></tr>
<tr style="vertical-align: top; background-color: #CCFFFF">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Buildings and improvements</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">15 to 25 years</font></td></tr>
<tr style="vertical-align: top">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Machinery and equipment</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">2 to 15 years</font></td></tr>
<tr style="vertical-align: top; background-color: #CCFFFF">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Furniture and fixtures</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">3 to 5 years</font></td></tr>
<tr style="vertical-align: top">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Trailers and automotive equipment</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">2 to 4 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Upon
disposition of these assets, any resulting gain or loss is included in other, net. Major repairs and maintenance costs that extend
the useful life of the related assets are capitalized. Normal repairs and maintenance costs are charged to operations.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     A
summary of cost and accumulated depreciation for property, plant, and equipment as of December 26, 2015 and December 27, 2014 follows
(thousands of dollars):</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">December 26,<font style="font-weight: normal"> </font></td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">December 27,<font style="font-weight: normal"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">2015<font style="font-weight: normal"> </font></td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">2014<font style="font-weight: normal"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="width: 61%; text-align: left; font-weight: bold"><font style="font-weight: normal">Land and improvements </font></td>
<td style="width: 6%; text-align: left; font-weight: bold; text-indent: 3pt"><font style="font-weight: normal">$ </font></td>
<td style="width: 13%; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="width: 1%; text-align: right; font-weight: bold"> </td>
<td style="width: 6%; text-align: left; font-weight: bold; text-indent: 3pt"><font style="font-weight: normal">$ </font></td>
<td style="width: 13%; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Building and improvements </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Machinery and equipment </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">24 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">37 </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Furniture and fixtures </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">140 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">126 </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Trailers and automotive equipment </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">59 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">57 </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Construction in process </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 11.95pt"><font style="font-weight: normal">Total property, plant, and equipment, at cost </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">223 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">220 </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Accumulated depreciation </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">175 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">215 </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 11.95pt"><font style="font-weight: normal">Property, plant, and equipment, net </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">48 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">5 </font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Depreciation
expense was immaterial for fiscal years ended December 26, 2015 and December 27, 2014.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Overdraft Balances</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     USPB
utilizes a controlled disbursement account to fund cash distribution checks presented for payment by the holder. Checks issued
pending clearance that result in overdraft balances for accounting purposes are included in patronage notices payable and distributions
payable and the change in the related balances are reflected in financing activities on the consolidated statement of cash flows.
Overdraft balances totaled $0.1 million and $0.1 million as of December 26, 2015 and December 27, 2014, respectively.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Income Taxes</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Effective
August 29, 2004, the Company converted to an LLC, and under this structure, taxes are not provided at the Company level because
the results of operations are included in the taxable income of the individual members.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Selling, General, and Administrative</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Selling
expenses consist primarily of salaries, bonuses, phantom unit option expense, trade promotions, advertising, commissions and other
marketing costs. General and administrative costs consist primarily of general management, insurance and professional expenses.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Noncompetition Payments</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
former CEO’s employment agreement provided for him to receive noncompetition payments in connection with the Leucadia transaction.
During calendar years 2015 and 2014, the former CEO was paid $849,911 and $847,334, respectively, in noncompetition payments. He
will continue to receive noncompetition payments of approximately $850,000 per year during calendar years 2016 through 2021.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
current CEO’s employment agreement provides for him to receive noncompetition payments for a twelve month period following
his termination of employment with USPB.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     As
of December 26, 2015 and December 27, 2014, the Company had accrued $4.7 million and $5.5 million, respectively, for the noncompetition
agreements.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Earnings Per Unit</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Under
the LLC structure, earnings of the Company are to be distributed to unitholders based on their proportionate share of underlying
equity, and, as a result, earnings per unit (EPU) has been presented in the accompanying Consolidated Statement of Operations and
in the table that follows.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Basic
EPU excludes dilution and is computed by first allocating 10% of net income or loss attributable to USPB to Class A units and the
remaining 90% is allocated to Class B units. Net income or loss allocated to the Class A and Class B units is then divided by the
weighted-average number of Class A and Class B units outstanding for the period to determine the basic EPU for each respective
class of unit.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Diluted
EPU reflects the potential dilution that could occur if the purchase rights or appreciation right provided for in the former CEO’s
employment agreement were exercised. In April 2014, the former CEO exercised his right to receive unit appreciation rights on his
20,000 Class A phantom units. The diluted loss per Class A unit calculations for fiscal year 2013 in the following table excludes
the effect of the 20,000 Class A unit purchase rights noted above as the effect of including them would have been anti-dilutive
to the loss per Class A unit calculation. There are no other potentially dilutive Class A or Class B units outstanding.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold">Loss Per Unit Calculation<font style="font-weight: normal"> </font></td>
<td colspan="9" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">52 weeks ended</td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">(thousands of dollars, except unit and per unit data) </font></td>
<td colspan="2" nowrap="nowrap" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">December 26, 2015</td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" nowrap="nowrap" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">December 27, 2014</td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="3" nowrap="nowrap" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">December 28, 2013</td></tr>
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; width: 56%">Basic loss per unit:<font style="font-weight: normal"> </font></td>
<td style="width: 3%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 3%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 2%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Loss attributable to USPB available to </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">unitholders (numerator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class A </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2,132</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(904</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1,120</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class B </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(19,184</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(8,135</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(10,076</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Weighted average outstanding units (denominator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class A </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class B </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Per unit amount </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class A </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(2.90</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.23</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.52</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class B </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(25.40</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(10.77</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(13.34</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold">Diluted loss per unit:<font style="font-weight: normal"> </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Loss attributable to USPB available to </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">unitholders (numerator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class A </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2,132</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(904</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1,120</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class B </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(19,184</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(8,135</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(10,076</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Weighted average outstanding Class A units </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Effect of dilutive securities - Class A unit options </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">Units (denominator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Weighted average outstanding Class B units </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Effect of dilutive securities - Class B unit options </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">Units (denominator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Per unit amount </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class A </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(2.90</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.23</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.52</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class B </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(25.40</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(10.77</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(13.34</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr></table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 10pt; text-align: justify"><font style="font-weight: normal"> Property,
plant, and equipment are recorded at cost. Property, plant, and equipment are depreciated principally on a straight-line basis
over the estimated useful life (based upon original acquisition date) of the individual asset by major asset class as follows:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr>
<td style="width: 69%; padding: 0.75pt"> </td>
<td style="width: 31%; padding: 0.75pt"> </td></tr>
<tr style="vertical-align: top; background-color: #CCFFFF">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Buildings and improvements</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">15 to 25 years</font></td></tr>
<tr style="vertical-align: top">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Machinery and equipment</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">2 to 15 years</font></td></tr>
<tr style="vertical-align: top; background-color: #CCFFFF">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Furniture and fixtures</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">3 to 5 years</font></td></tr>
<tr style="vertical-align: top">
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: left"><font style="font-weight: normal">Trailers and automotive equipment</font></td>
<td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-weight: normal">2 to 4 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 10pt; text-align: justify"><font style="font-weight: normal"> A
summary of cost and accumulated depreciation for property, plant, and equipment as of December 26, 2015 and December 27, 2014 follows
(thousands of dollars):</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">December 26,<font style="font-weight: normal"> </font></td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">December 27,<font style="font-weight: normal"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">2015<font style="font-weight: normal"> </font></td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">2014<font style="font-weight: normal"> </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="width: 61%; text-align: left; font-weight: bold"><font style="font-weight: normal">Land and improvements </font></td>
<td style="width: 6%; text-align: left; font-weight: bold; text-indent: 3pt"><font style="font-weight: normal">$ </font></td>
<td style="width: 13%; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="width: 1%; text-align: right; font-weight: bold"> </td>
<td style="width: 6%; text-align: left; font-weight: bold; text-indent: 3pt"><font style="font-weight: normal">$ </font></td>
<td style="width: 13%; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Building and improvements </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Machinery and equipment </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">24 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">37 </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Furniture and fixtures </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">140 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">126 </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Trailers and automotive equipment </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">59 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">57 </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Construction in process </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 11.95pt"><font style="font-weight: normal">Total property, plant, and equipment, at cost </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">223 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">220 </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Accumulated depreciation </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">175 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">215 </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 11.95pt"><font style="font-weight: normal">Property, plant, and equipment, net </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">48 </font></td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">5 </font></td></tr>
</table>
<p style="text-align: justify; font: bold 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">NOTE 3.   Long-Term Debt and Loan Agreements</p>
<p style="text-align: justify; font: bold 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><font style="font-weight: normal"> </font></p>
<p style="text-align: left; font: bold 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>
<p style="text-align: justify; font: bold 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(a)<font style="font-weight: normal"> </font> <i>Master Loan Agreement</i><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     On
May 29, 2014, USPB and CoBank entered into a Revolving Term Loan Supplement to the Master Loan Agreement dated July 26, 2011. The
new Revolving Term Loan Supplement provides for a $5 million revolving credit commitment, a reduction of $10 million from the prior
commitment. The new commitment carries a term of three years, maturing on June 30, 2017. The Pledge Agreement provides CoBank with
a first-priority security interest in USPB’s membership interests in, and distributions from, NBP.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     All
of the $5 million revolving credit commitment was available as of December 26, 2015. Borrowings under the revolving credit commitment
bear interest at the base rate or LIBOR rate plus applicable margin.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     On
December 30, 2011, in connection with the closing of the transaction with Leucadia, the Company and CoBank entered into the Consent
and First Amendment to Pledge Agreement and Security Agreement, by which CoBank agreed to (i) consent to the Membership Interest
Sale and the PA Distribution, (ii) release its security interest in, and liens on, the Membership Interests being sold pursuant
to the Membership Interest Sale, (iii) consent to the NBP Pledge and (iv) consent to the amendments and restatements of the NBP
Operating Agreement and the PA Newco Operating Agreement. The NBP Pledge grants NBP a perfected security interest in and to USPB’s
membership interests in, and distributions from, NBP, subject only to the prior first priority security interest held by CoBank.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
Company was in compliance with all of the Master Loan Agreement debt covenants as of December 26, 2015.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"> </p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(b) <i>Capital and Operating Leases</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     USPB
leases its office space in Kansas City, Missouri and Dodge City Kansas. Rent expense associated with operating leases was $0.1
million for fiscal years 2015, 2014, and 2013. USPB expects that it will renew lease agreements or enter into new leases as the
existing leases expire.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 4. Employee Options and Benefit Plans</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
cooperative established a phantom stock option plan for the then CEO, Mr. Hunt, which provided for the issuance of 20,000 phantom
stock options with an exercise price of $55 per share, all of which had been issued and were exercisable upon election. In connection
with the conversion described in Note 9, this phantom stock option plan was converted into a phantom unit plan in a similar fashion
as the conversion of cooperative shares to LLC units. The 20,000 phantom stock options converted into 20,000 phantom Class A units
and 20,000 phantom Class B units with an exercise price of $55 per unit and $0 per unit, respectively. In August 2009, Mr. Hunt
exercised 20,000 Class B units at an exercise price of $0 per unit. In April 2014, Mr. Hunt exercised his right to receive an appreciation
payment for his 20,000 Class A phantom units, which had an exercise price of $55 per unit. The Company recognized compensation
expense for Mr. Hunt’s Class A phantom units for the difference between the fair market value for the Class A units and the
$55 exercise price. For Mr. Hunt’s phantom plan, an increase in compensation expense of $0.0 million, $0.0 million and $1.4
million was recognized in fiscal years 2015, 2014 and 2013, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     In
September 2010, USPB’s Board of Directors approved a management phantom unit plan. The phantom unit plan provides for the
award of unit appreciation rights to management employees of USPB. USPB’s CEO administers the phantom unit plan and awards
“Phantom Units” (Class A and Class B Units) to employees in amounts determined by the CEO, subject to the total Phantom
Unit amount approved by the Board of Directors of USPB. A total of 5,000 Class A phantom units and 5,000 Class B phantom units
were awarded to management employees, with a strike price of $118 and $157, respectively. The closing of the Leucadia Transaction
resulted in management employees receiving a payment under the management phantom unit plan. As a result of that payment, the strike
price for both the Class A phantom units and Class B phantom units was satisfied and is now $0. The phantom units became fully
vested in August 2015. For the management phantom plan, compensation expense of $0.0 million, $0.0 million, and $0.5 million was
recognized in fiscal years 2015, 2014 and 2013, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     As
a result of the retirement of one of USPB’s employees on December 31, 2014, 50 Class A phantom units and 50 Class B phantom
units were forfeited as they were not vested. One third of the retiring employee’s vested phantom units will be exercised
and the appreciation rights paid in three tranches (retirement, and first and second anniversary of retirement). At the end of
fiscal year 2015, 4,883 Class A phantom units and 4,883 Class B phantom units remain outstanding.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     On
November 16, 2012, USPB’s Board of Directors approved the issuance of an additional 1,500 Class A phantom units, with a strike
price of $66.04 and 1,500 Class B phantom units, with a strike price of $73.70, to certain members of management, to be effective
on January 28, 2013. These phantom units will vest over a five year period. Compensation expense of $0.0 million, $0.0 million
and $0.1 million was recognized in fiscal years 2015, 2014 and 2013, respectively.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
Company maintains a tax-qualified employee savings and retirement plan (401(k) Plan) covering the Company’s non-union employees.
Pursuant to the 401(k) Plan, eligible employees may elect to reduce their current compensation by up to the lesser of 75% of their
annual compensation or the statutorily prescribed annual limit and have the amount of such reduction contributed to the 401(k)
Plan. The 401(k) Plan provides for additional matching contributions by the Company, based on specific terms contained in the 401(k)
Plan. The trustee of the 401(k) Plan, at the direction of each participant, invests the assets of the 401(k) Plan in designated
investment options. The 401(k) Plan is intended to qualify under Section 401 of the Internal Revenue Code. Expenses related to
the 401(k) Plan totaled approximately $0.0 million, $0.1 million, and $0.0 million for fiscal years 2015, 2014, and 2013, respectively.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 5. Other Income</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Other
non-operating income, net was $0.0 million, $0.2 million, and $0.7 million for fiscal years 2015, 2014 and 2013, respectively.
Other non-operating income primarily includes income related to lease income on additional delivery rights made available by the
Company.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 6. Income Taxes</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     USPB
is structured as an LLC and is taxed as a partnership for federal income tax purposes. As a result, its taxable income/loss are
passed through to the unitholders at the end of each tax year. Certain states assess an entity level tax, which is paid by USPB.
Such taxes are generally immaterial, and the current provision in tax years 2015, 2014 and 2013 was $0.0 million.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 7. Related Party Transactions</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     All
of the Company’s directors hold units of the Company. By virtue of their ownership of the units, each of these individuals
is obligated to deliver cattle to the Company. The amount and terms of the payments received by these individuals (or the entities
they represent) for the delivery of cattle are made on exactly the same basis as those received by other unitholders of the Company
for the delivery of their cattle.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     USPB
facilitates the delivery of cattle annually to NBP through its unitholders and associates. During fiscal years 2015, 2014 and 2013,
USPB’s owners and associates provided approximately 28%, 23%, and 21%, respectively, of NBP’s total cattle requirements.
The purchase price for the cattle is determined by NBP’s pricing grid, which, under the terms of the agreement with USPB,
must be competitive with the pricing grids of NBP’s competitors and may not be less favorable than pricing grids offered
to other suppliers.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     At
December 26, 2015 and December 27, 2014, the Company had receivables from unitholders and associates in the amount of $0.1 million
and $0.1 million, respectively.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 8. Fair Value Measurements</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     The
Company determines fair value utilizing a three-level fair value hierarchy that prioritizes the inputs used to measure fair value.
The fair value hierarchy gives the highest priority to quoted market prices (Level 1) and the lowest priority to unobservable inputs
(Level 3). The three levels of inputs used to measure fair value are as follows:</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     •  
Level 1 – quoted prices in active markets for identical assets or liabilities accessible by the reporting entity.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     •   Level
2 – observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities
in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs
that are observable or can be corroborated by observable market data.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify">     •   Level
3 – unobservable inputs for an asset or liability. Unobservable inputs should only be used to the extent observable inputs
are not available.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     As
December 26, 2015 and December 27, 2014, the Company does not carry any assets or liabilities on its consolidated balance sheet
using the three-level fair value hierarchy.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="background-color: white">NOTE
9. Capital Shares and Equities</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>LLC Structure</i></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     On
August 18, 2004, the shareholders of U.S. Premium Beef, Ltd. approved the conversion of the cooperative into a Delaware LLC (Conversion).
Under the new ownership structure, each share of common stock of the cooperative was converted to one unit of Class A interest
and one unit of Class B interest. Immediately following the Conversion, there were 691,845 Class A units and 691,845 Class B units.
For a period of time determined by the board of directors, each Class A unit was linked to its corresponding Class B unit and each
pair of linked units was required, if transferred, to be transferred together. On March 27, 2010, the board of directors amended
USPB’s LLC Agreement to enable the Class A and Class B units to be transferred separately.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     <i>Class
A Units</i>. On November 9, 2009, USPB members approved an amendment to USPB’s limited liability company agreement that changed
the allocation of profits and losses to Class A unitholders to 10% from 33%. Holders of USPB Class A units, committed under Uniform
Cattle Delivery and Marketing Agreements, have the right and obligation to deliver one head of cattle to USPB annually for each
unit held.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     <i>Class
B Units</i>. On November, 9, 2009, USPB members approved an amendment to USPB’s limited liability company agreement that
changed the allocation of profits and losses to Class B unitholders to 90% from 67%. Holders of USPB Class B units have no cattle
delivery commitment.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 10. Legal Proceedings</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     As
of December 26, 2015, USPB was not a party to any lawsuit or claim arising out of the operation of its business.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 11. Business Segments</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     ASC
820, <i>Disclosures about Segments of an Enterprise and Related Information </i>establishes annual and interim reporting
standards for operating segments of a company. It also requires entity wide disclosures about the products and services an entity
provides, the material countries in which it holds assets and reports revenues, and its major customers. USPB is not organized
by multiple operating segments for the purpose of making operating decisions or assessing performance. Accordingly, USPB operates
in one operating segment and reports only certain enterprise-wide disclosures.</font></p>
<p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 12. Quarterly Results (Unaudited)</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"> </font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">     Selected
quarterly financial data for fiscal years 2015 and 2014 are set forth below (dollars in thousands, except per unit data):</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="width: 19%; text-align: left; font-weight: bold"> </td>
<td style="width: 3%; text-align: left; font-weight: bold"> </td>
<td style="width: 2%; text-align: left; font-weight: bold"> </td>
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<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: center; font-weight: bold">Net</td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
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<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold">(Loss) Income</td>
<td style="text-align: left; font-weight: bold"> </td>
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<td colspan="2" style="text-align: center; font-weight: bold">Operating</td>
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<td style="text-align: left; font-weight: bold"> </td>
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<td style="text-align: center; font-weight: bold">Attributable</td>
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<td colspan="5" style="text-align: center; font-weight: bold">Basic (Loss) Earnings Per</td>
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<td colspan="5" style="text-align: center; font-weight: bold">Diluted (Loss) Earnings Per</td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="3" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Net Sales<font style="font-weight: normal"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">(Loss) Income</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">to USPB</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Class A Unit</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Class B Unit</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Class A Unit</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Class B Unit</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">2015 quarterly results: </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">   March 28, 2015 </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal"> $ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(807</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(5,851</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.80</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.97</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.80</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.97</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">   June 27, 2015 </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(381</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1,824</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.25</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2.17</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.25</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2.17</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">   September 26, 2015 </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(432</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(5,278</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.72</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.29</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.72</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.29</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">   December 26, 2015 </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(784</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(8,363</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1.13</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(9.97</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1.13</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(9.97</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(2,404</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(21,316</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr>
<td colspan="27" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">2014 quarterly results: </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">   March 29, 2014 </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(984</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(5,064</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.69</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.03</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.69</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.03</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">   June 28, 2014 </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(830</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">93</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 1.2pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.01</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 1.2pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.11</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 1.2pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.01</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 1.2pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.11</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">   September 27, 2014 </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(540</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">3,517</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.48</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">4.19</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.48</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">4.19</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">   December 27, 2014 </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(764</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(7,585</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1.03</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(9.04</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1.03</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(9.04</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal"> $ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(3,118</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(9,039</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal"></font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 10pt; text-align: justify"><font style="font-weight: normal"> Selected
quarterly financial data for fiscal years 2015 and 2014 are set forth below (dollars in thousands, except per unit data):</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="width: 28%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 7%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 7%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 9%; text-align: center; font-weight: bold">Net</td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 7%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 7%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 8%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 8%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold">(Loss) Income</td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-weight: bold">Operating</td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: center; font-weight: bold">Attributable</td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="5" style="text-align: center; font-weight: bold">Basic (Loss) Earnings Per</td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="5" style="text-align: center; font-weight: bold">Diluted (Loss) Earnings Per</td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="3" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Net Sales<font style="font-weight: normal"> </font></td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">(Loss) Income</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">to USPB</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Class A Unit</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Class B Unit</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Class A Unit</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">Class B Unit</td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">2015 quarterly results: </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 5.95pt"><font style="font-weight: normal">March 28, 2015 </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal"> $ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(807</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(5,851</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.80</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.97</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.80</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.97</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 5.95pt"><font style="font-weight: normal">June 27, 2015 </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(381</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1,824</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.25</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2.17</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.25</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2.17</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 5.95pt"><font style="font-weight: normal">September 26, 2015 </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(432</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(5,278</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.72</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.29</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.72</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.29</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 5.95pt"><font style="font-weight: normal">December 26, 2015 </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(784</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(8,363</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1.13</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(9.97</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1.13</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(9.97</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(2,404</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(21,316</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr>
<td colspan="27" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">2014 quarterly results: </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 5.95pt"><font style="font-weight: normal">March 29, 2014 </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(984</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(5,064</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.69</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.03</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(0.69</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(6.03</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 5.95pt"><font style="font-weight: normal">June 28, 2014 </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(830</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">93</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 1.2pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.01</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 1.2pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.11</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 1.2pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.01</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 1.2pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.11</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 5.95pt"><font style="font-weight: normal">September 27, 2014 </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">- </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(540</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">3,517</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.48</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">4.19</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">0.48</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">4.19</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 5.95pt"><font style="font-weight: normal">December 27, 2014 </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(764</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(7,585</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1.03</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(9.04</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1.03</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold; text-indent: 0.6pt"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(9.04</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal"> $ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(3,118</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(9,039</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
</table>
254546000
244212000
233086000
211770000
862000
0
0.125
8400
7400000
0.91
735385000
0.10
0.10
0.10
3800000
100000
100000
849911000
847334000
4700000
5500000
0.10
0.90
20000
55
66.04
73.70
20000
20000
5000
5000
55
0
118
157
20000
20000
55
0
0
0
0
1400000
0
0
500000
0
50
50
4883
4883
P5Y
0
100000
0
0.28
0.21
0.23
100000
100000
100000
100000
100000
0
100000
0
-2087000
10000000
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 1pt; text-align: justify"><font style="font-weight: normal">Diluted
EPU reflects the potential dilution that could occur if the purchase rights or appreciation right provided for in the former CEO’s
employment agreement were exercised. In April 2014, the former CEO exercised his right to receive unit appreciation rights on his
20,000 Class A phantom units. The diluted loss per Class A unit calculations for fiscal year 2013 in the following table excludes
the effect of the 20,000 Class A unit purchase rights noted above as the effect of including them would have been anti-dilutive
to the loss per Class A unit calculation. There are no other potentially dilutive Class A or Class B units outstanding.</font></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"> </font></p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold">Loss Per Unit Calculation<font style="font-weight: normal"> </font></td>
<td colspan="9" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">52 weeks ended</td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">(thousands of dollars, except unit and per unit data) </font></td>
<td colspan="2" nowrap="nowrap" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">December 26, 2015</td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="2" nowrap="nowrap" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">December 27, 2014</td>
<td style="text-align: left; font-weight: bold"> </td>
<td colspan="3" nowrap="nowrap" style="border-bottom: black 1pt solid; text-align: center; font-weight: bold">December 28, 2013</td></tr>
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; width: 56%">Basic loss per unit:<font style="font-weight: normal"> </font></td>
<td style="width: 3%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 3%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td>
<td style="width: 2%; text-align: left; font-weight: bold"> </td>
<td style="width: 11%; text-align: left; font-weight: bold"> </td>
<td style="width: 1%; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Loss attributable to USPB available to </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">unitholders (numerator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class A </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2,132</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(904</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1,120</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class B </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(19,184</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(8,135</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(10,076</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Weighted average outstanding units (denominator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class A </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class B </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Per unit amount </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class A </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(2.90</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.23</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.52</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class B </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(25.40</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(10.77</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(13.34</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold">Diluted loss per unit:<font style="font-weight: normal"> </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Loss attributable to USPB available to </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">unitholders (numerator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class A </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(2,132</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(904</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(1,120</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.3in"><font style="font-weight: normal">Class B </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(19,184</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(8,135</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">(10,076</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr>
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Weighted average outstanding Class A units </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Effect of dilutive securities - Class A unit options </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">Units (denominator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">735,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Weighted average outstanding Class B units </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Effect of dilutive securities - Class B unit options </font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td>
<td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td>
<td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 10.35pt"><font style="font-weight: normal">Units (denominator) </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: right; font-weight: bold"><font style="font-weight: normal">755,385</font></td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="background-color: white">
<td colspan="10" style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Per unit amount </font></td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td>
<td style="text-align: left; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class A </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(2.90</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.23</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(1.52</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFFF">
<td style="text-align: left; font-weight: bold; text-indent: 0.2in"><font style="font-weight: normal">Class B </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(25.40</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(10.77</font></td>
<td style="text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">$ </font></td>
<td style="border-bottom: black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">(13.34</font></td>
<td style="border-bottom: black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">) </font></td></tr></table>
20000
1500
1500
691845
691845