Investor Presentaiton

Robust balance sheet supports growth opportunities and shareholder returns Maintenance Capex Prioritize liquidity Manage cash priorities EM Cal-Maine Foods Variable dividend policy driven by commodity-based, cyclical business model • Maintain current assets, including cash and securities' balances, to support operating needs Continued focus on funding investments for longer-term • growth, primarily organic and bolt-on cage-free opportunities Zero long term debt, loan facility in place if needed* Total current assets, cash and investment securities ($ mm) $648 $568 $175 $170 $232 $487 $477 $496 $350 $288 FY 20 FY 21 FY 22 FY 23 FY 24 YTD ■Total current assets (ex. cash & investments) ■Total cash and investments *Credit Facility includes $250mm line of credit and $200mm accordion feature. CAL-MAINE FOODS | INVESTOR PRESENTATION | JANUARY 2024 • • Invest in maintenance capex for continuity of efficient operations across facilities Selective acquisition posture for M&A and incremental cage- free capacity Capital Allocation from FY 2022 to Q2 2024 ($ mm) $37 $99 $137 $92 ■Dividends Paid Maintenance CapEx $296 ■Organic Growth Inorganic Growth Value-Added Products 25

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