Alico (ALCO) Investor presentation summary

Strategic transformation and business overview

• Transitioning from traditional citrus operations to a diversified land management and development strategy, with ~25% of land targeted for development and ~75% retained for agriculture.

• Focus on maximizing land value through a “Plan for Every Acre,” prioritizing high-value development and conservation opportunities.

• Largest asset is approximately 49,000 acres across 29 locations in 7 Florida counties.

• Emphasis on responsible land management, conservation, and community involvement, including significant land donations and partnerships.

• Leadership team with proven execution capability and a strong track record in capital returns.

Development portfolio and value potential

• Estimated total portfolio value of $650M–$750M, with $335M–$380M in near-term development potential (5,500 acres) and $140M–$170M in long-term development (7,100 acres).

• Major near-term projects include Corkscrew Grove (Collier County, ~4,660 acres), Bonnet Lake (Highlands County, ~610 acres), Saddlebag Grove (Polk County, ~240 acres), and Plant World (Hendry County, ~80 acres).

• Corkscrew Grove Villages planned as two mixed-use communities with ~4,500 homes each, commercial and civic space, and over 6,000 acres dedicated to conservation.

• Bonnet Lake and Saddlebag Grove projects focus on residential master-planned communities, while Plant World targets mixed-use development.

• Ongoing engagement with agencies and stakeholders to secure entitlements and ensure sustainable, integrated development.

Financial performance and capital management

• Fiscal 2025 adjusted EBITDA of $22.5M and land sales of $23.8M, both exceeding guidance.

• Ended fiscal 2025 with $38.1M in cash and reduced net debt to $47.4M, providing flexibility to fund operations through 2027.

• Returned $198M in capital since 2015, including $96M since 2021, with consistent dividends since 1974 and a $50M stock buyback program approved in 2025.

• Attractive valuation compared to peers and a strong foundation for future growth.