Financial Results and Outlook

Segment Highlights - First Half Fiscal Year 2024 Tobacco Operations • • • • Demand for leaf tobacco from our customers remains strong A favorable tobacco product mix benefited our results for the first half of fiscal year 2024 Leaf tobacco margins improved in the first half of fiscal year 2024, despite lower sales volumes, as we had fewer shipments of lower margin tobacco Carryover crop shipments were significantly lower while current crop shipments were higher in both South America and Africa in the first half of fiscal year 2024, compared to the first half of fiscal year 2023 Our uncommitted tobacco inventory was 12% of tobacco inventory at September 30, 2023 Ingredients Operations · Demand from certain customers stabilized in the quarter ended September 30, 2023 • Results for the Ingredients Operations segment were up in the second quarter of fiscal year 2024, compared to the same quarter in fiscal year 2023 • • Results for the six months ended September 30, 2023, for the Ingredients were down, compared to the same period in the prior fiscal year, on lower demand due to customers continuing to carry high inventory levels Prices for some key raw materials were down in the first half of fiscal year 2024 • Inventory writedowns were higher in the first half of fiscal year 2024 on changes in customer demand and new crop raw material prices The expansion of the platform's capabilities has added to our costs 24

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