Slide 1: Investor Presentation
incorporated NASDAQ: ALCO www.alicoinc.com Investor Presentation August 2026
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not
Slide 3: Who We Are
Who We Are Alico is a Florida-based agribusiness and land management company with over 125 years of experience. Alico's enduring conservation legacy protects vital natural resources while remaining deeply rooted in the communities we serve. Alico has substantially wound down its citrus production op
Slide 4: Alico's Largest Asset: Our Land
Alico’s Largest Asset: Our Land Approximately 47,300 acres of land in 27 locations across 7 counties Source: Acreage per Alico, Inc, Earnings Release filed with the SEC on August 10, 2026 4
Slide 5: A Legacy of Community Involvement and Conservation
A Legacy of Community Involvement and Conservation: Over the last 40+ years, Alico has been working with solutions- oriented agencies and organizations to protect and preserve important natural resources, while improving our quality of life. • Tiger Creek Preserve: (1986) – Polk County • CREW Preser
Slide 6: Key Company Leadership
Key Company Leadership John Kiernan Mitch Hutchcraft Brad Heine Chief Executive Officer Executive Vice President Chief Financial Officer President & CEO jkiernan@alicoinc.com mhutchcraft@alicoinc.com bheine@alicoinc.com 6
Slide 7: Strategic Transformation Creating Shareholder Value
Strategic Transformation Creating Shareholder Value On January 6, 2025, Alico announced: • The wind-down of Alico Citrus division after 2024/2025 harvest • Transformation into a diversified land company • Strategic development of select land parcels • Focus on non-citrus agricultural revenue opportu
Slide 8: Portfolio Value Potential
Portfolio Value Potential Total Estimated Value: $650M - $750M Near-Term Development Near-Term Development Potential 12% $335M - $380M ~5,600 acres (~12%) Within 5 Years Long-Term Long-Term Development Potential Development 13% $140M - $170M ~6,100 acres (~13%) Beyond 5 Years Land 75% Agricultural L
Slide 9: Developing Prioritized Plan
Developing Prioritized Plan “Plan for Every Acre” with an emphasis on prioritizing efforts on properties where maximum value creation can be realized An ongoing process. Alico - Acres by County Continuing to evaluate properties to determine what will create the Glades Highlands HBU for shareholders.
Slide 10: Near-Term Development Potential
Near-Term Development Potential $335M - $380M ~5,600 Acres Within 5 Years Collier County • Corkscrew ~4,660 acres Highlands County • Bonnet Lake ~610 acres Polk County • Saddlebag Grove ~240 acres Hendry County • Plant World (LaBelle) ~80 acres Polk County • Lake Buffum ~42 acres 10 Note: $ values i
Slide 11: Corkscrew Grove
Corkscrew Grove Growth in Fort Myers and Collier is pushing eastward, and the Corkscrew Property is well positioned to meet anticipated regional growth demands while participating in environmental solutions Overview Location: Collier County Size: 4,662.710 Acres Current Use: Citrus Planned Use: Two
Slide 12: Corkscrew Grove Conservation Strategy
Corkscrew Grove Conservation Strategy Alico has been an active partner in the Collier Rural Land Stewardship Area (RLSA) Program for over 20 years. The planning of Corkscrew Grove Villages implements the RLSA vision and brings to fruition conservation strategies proposed by the Florida Wildlife Corr
Slide 13: Corkscrew Grove Villages
Corkscrew Grove Villages Project Overview • Two 1,500 acre master-planned communities in Northwest Collier County and 7,000+ acres dedicated to permanent conservation. • Two mixed-use villages with residential and commercial components (“Corkscrew Grove East Village” & “Corkscrew Grove West Village”
Slide 14: Bonnet Lake
Bonnet Lake Overview Location: Highlands County Size: 608.22 Acres Current Use: Citrus Planned Use: Residential MPC Dwelling Units: ~2,000 Homes Commercial SF: Ancillary Only Civic SF: 7,500 SF Amenity: Lake, Clubhouse, Trails, Preserve Status • Filed entitlement application Dec ’24 • Secured Planni
Slide 15: Plant World (LaBelle)
Plant World (LaBelle) Overview Location: Hendry County Size: 83.08 +/- Acres Current Use: Pasture Planned Use: Residential/ Mixed Use Dwelling Units: 250 +/- Homes Civic SF: 2,500 SF +/- Amenity: Village Green, Trails, Lakes, Preserve Status Annexation and Comprehensive Plan Approved - Q2/2026 15
Slide 16: Saddlebag Grove
Saddlebag Grove Overview Location: Polk County Size: 239.98 +/- Acres Current Use: Citrus Planned Use: Residential MPC Dwelling Units: 440 +/- Homes Commercial SF: Ancillary Only Civic SF: 5,000 SF Amenity: Village Green, Trails, Lakes, Preserve Status • Anticipate entitlement activity in 2026/2027
Slide 17: Lake Buffum (Polk County)
Lake Buffum (Polk County) Overview Location: Polk County Size: 42.0 +/- Acres Current Use: Citrus/Pasture Planned Use: Residential w/Ag Easement Dwelling Units: 8 +/- Homes Amenity: Lake Frontage, Common Drive Status Special Exception Approved - Q2/2026 Plat and HOA scheduled for Approval in Q1/2027
Slide 18: Strong Track Record of Capital Returns
Strong Track Record of Capital Returns $209M Total Capital Returned FY2015 – Present Including $107M since FY2021 Dividend History Principal Payments Total Payments $43M+ Net Payments $120M Since 2015 Consistent dividend payments since 1974 Debt reduction since FY2016 Share Repurchase Program Regula
Slide 19: Why Invest in Alico?
Why Invest in Alico? Strategic Vision • Wind down of citrus operations strengthens financial foundation • Clear path to enhancing shareholder value through land diversification • Remain open to opportunistic land sales for properties • ~25% of land targeted for near-term and long-term development po
Slide 20: 2026 YTD Results
2026 YTD Results Adjusted EBITDA • Adjusted EBITDA of $24.2 million through June 30, 2026. Cash and Net Debt • Ended Q3 2026 with cash of approximately $55.6 million, an increase of $17.5 million from fiscal year-end, and net debt of $29.8 million, compared to $47.4 million at fiscal year-end, demon
Slide 21: 2026 Financial Guidance
2026 Financial Guidance Adjusted EBITDA • Adjusted EBITDA of approximately $15 million expected for fiscal year 2026. Cash • Cash balance at fiscal year end 2026 expected to be approximately $48 million, providing the financial flexibility to fund operations through fiscal year 2029 while advancing
Slide 22: For More Information
For More investorrelations@alicoinc.com Information www.alicoinc.com 239-226-2000 www.linkedin.com/company/alico-inc. www.facebook.com/AlicoInc Fort Myers, Florida Scan to view our interactive map 22
Slide 23: Appendix
Appendix 23
Slide 24: Non-GAAP Financial Measures
Non-GAAP Financial Measures EBITDA and Adjusted EBITDA NOTE: We are unable to provide a reconciliation of Adjusted EBITDA to net (loss) income attributable to Alico, Inc. common stockholders for the year ended September 30, 2026 as the adjustments are not within our control or cannot be reasonably p
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures Net Debt 25