Investor Presentaiton

• Scaling production to manage costs and reduce purchase dependency Embedded input cost & supply chain resilience CALM Management System provides constant evaluation of costs & performance to best manage volatility Feedstock Farm production costs, largely feed ingredients, facility and amortization, drives cost of sale expense Two in-house nutritionists that specialize in creating least- cost formulations. Supply Chain Dual- and multi-sourcing for key inputs, including feed ingredients, cartons and other packaging EM Cal-Maine Foods Self-production offers more attractive expense profile (2) Optimized production promotes flexibility during times of tightened egg supply Dependence on outside shell egg purchases has declined, as Cal-Maine's production has scaled to meet demand Helps maintain consistent, quality service to customers and provide management of market cyclicality Outside egg purchases (% of sales) • Continued focus on production efficiencies under our control 26% 23% 24% 25% 26% 21% 21% 20% 22% FY23 feed ingredients' price impacts on per dozen shell egg farm production costs (1) 16% 13% 8% 6% A in feed ingredient $ per dozen impact Bushel of corn $0.28 $0.01 FY 2000 FY 2004 FY 2008 FY 2012 FY 2016 FY 2020 2Q 2024 Ton of soybean meal $25.50 $0.01 CAL-MAINE FOODS | INVESTOR PRESENTATION | JANUARY 2024 22 22

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