ALICO INC (ALCO)

• Company executing strategic transformation to become a diversified land company
• Concluded majority of capital investment on citrus operations after fiscal year 2025 harvest
• Raised land sales outlook to potentially exceed $50 million for fiscal year 2025
• Robust liquidity position with $14.7 million in cash and cash equivalents, $88.5 million in available credit facilities, and no significant debt maturities until 2029
• Projected cash balance at the end of fiscal year 2025 to be approximately $25 million with net debt around $60 million

• Decline in orange production due to ongoing challenges in the citrus industry
• Increased net loss attributable to Alico common stockholders due to accelerated depreciation and impairment of assets
• Uncertainty regarding timing of land sales and potential challenges in closing pending transactions

• Conference call to discuss financial results on May 14, 2025
• Final harvest on majority of operational citrus groves expected in fiscal year 2026
• Anticipated decision by Collier Board of County Commissioners on Corkscrew Grove Villages application in 2026

Alico is transitioning towards a diversified land company with a strong financial outlook, expecting significant land sales and improved cash position in fiscal year 2025.