Alico signs new Tropicana supply contract covering 65% of citrus acres at prices 33-50% higher

ALICO, INC.

New citrus supply agreement with Tropicana effective June 5, 2024 through July 31, 2027, covering ~65% of planted acres.
Prices per pound solids are 33% to 50% higher than the average price for fruit sold to Tropicana last season.
Fifteenth Amendment to credit agreement with Rabo AgriFinance permits up to $80M of non-citrus ranch land dispositions in FY2024.
Additional $10.4M disposition allowed in FY2024 and FY2025 if Hendry Land Sale closes; $15M baseline for FY2024-2026 and beyond.

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