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Investor Presentaiton

Eggs have enjoyed secular tailwinds in the U.S. A Universal Protein • • 97% of U.S. households purchase eggs (1) • • Designated as 'healthy food' under new proposed FDA definition (2) Ranked as one of the most economical high- quality proteins Consumption Growth Over Time (3) • The last decade has seen supply and demand grow relatively consistently, tracking together Demand has shown consistent growth, with little long-term impact seen from the 2022 HPAI outbreak compared to 2015 Market Dynamics U.S. Year-end layers (millions) (4) -Consumption per capita EM Cal-Maine Foods 342 340 330 322 327 325 310 315 317 320 311 301 Both layer count and consumption per capita in the US have been driven by supply, 293 282 284 286 287 283 279 281 demand, cyclical market recovery, and most recently, market volatility around HPAI. 268 272 259 256 CAL-MAINE FOODS | INVESTOR PRESENTATION | JANUARY 2024 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024e 14
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