Financial Highlights - FY'20

2 Nimble, Well-capitalized to Capture Shifting Consumer Trends EM Cal-Maine Foods, Inc. SHIFTING CONSUMER 1 DEMAND IN CAGE-FREE EGGS & LEGISLATION CHANGES 4 Organic Grain ORGANIC EGOS Scale to Drive Growth EM CAL-MAINE FOODS, INC 2 SCALE / INVESTMENT 3 SUSTAINABLE GROWTH 256 million specialty egg dozens sold in FY2020 19 Source: Company filings, USDA, The United Egg Producers and Wall Street research. (1) 78.4m hens according to USDA report as of June 2020. IGGUNDS NOW Your Nutritious Diet LARCE $ Currently ~25% of the total U.S. hen population is in cage-free facilities (¹). To meet the projected demand, over 70% of the U.S. laying flock need to be in cage-free production by 2026, requiring ~$7bn of industry-wide investment Estimated conversion costs of ~$45 per bird to build cage-free facilities. CALM has invested over $371m to expand cage-free production facilities since 2008 with ample liquidity Board of Directors approved a major expansion of the cage-free capacity at Utah facility in 2019 Current Investment Pipeline - Projected Cost ($mm) $150.0 LARGE YES! $100.0 $125.2 $87.2 $46.4 $36.8 $50.0 $38.0 $78.8 $9.6 $50.4 $28.4 $0.0 Convertible Cage-free Layer Houses & Pullet Houses Cage-free Layer & Pullet Total Houses/Processing Facility Invested Amount as of 5/30/20 ■Remaining Cost

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