INVESTOR

PRESENTATION

August 2023

©2023 The Andersons, Inc. All rights reserved.

SAFE HARBOR AND NON-GAAP FINANCIAL MEASURES

Certain information disclosed constitutes forward-looking statements. Actual results could differ materially from those presented in the forward-looking statements as a result of many factors including general economic, weather, and regulatory conditions, competition, the ongoing economic impacts from the war in Ukraine, and additional factors that are described in the company's publicly-filed documents, including its '34 Act filings and the prospectuses prepared in connection with the company's offerings.

This presentation contains non-GAAP financial measures. The company believes that pretax income attributable to the company from continuing operations, adjusted pretax income attributable to the company from continuing operations, adjusted netincome attributable to the company from continuing operations, adjusted diluted earnings per share from continuing operations; earnings before interest, taxes, depreciation and amortization (or EBITDA); EBITDA from continuing operations; adjusted EBITDA from continuing operations; and cash from operations before working capital changes provide additionalinformation to investors and others about its operations, allowing an evaluation of underlying operating performance and liquidity and better period-to-periodcomparability. The above measures are not and should not be considered as alternatives to net income from continuing operations; pretax income from continuing operations; income before income taxes from continuing operations; Net income attributable to The Andersons, Inc.; diluted earnings per share attributable to The Andersons, Inc. common shareholders from continuing operations; and cash provided by (used in) operating activities as determined by generally accepted accounting principles. Reconciliations of the GAAP to non-GAAP measures may be found within the financial tables in the appendix.

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TABLE OF CONTENTS

COMPANY AND FINANCIAL OVERVIEW

4

TRADE

16

RENEWABLES

19

NUTRIENT & INDUSTRIAL

22

APPENDIX

28

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THE ANDERSONS AT A GLANCE

FOUNDED

LISTED (NASDAQ)

MARKET CAP

EMPLOYEES

LOCATIONS

REVENUE1

ADJUSTED EBITDA1,2,3

1947

1996, ANDE

~$1.8B

~2,300

~120

$16.8B

$386M

The Andersons is integral to the ag supply chain, helping our customers not only grow and market their crops but also transport the resulting products to end markets such as food, feed, and fuel.

OUR VISION:

To be the Most Nimble and Innovative North American Ag Supply Chain Company

1 Trailing Twelve months ended June 30, 2023. 2 From continuing operations. 3 Non-GAAP measure. See reconciliation tables in Appendix.

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THE ANDERSONS AT A GLANCE

TRADE

RENEWABLES

NUTRIENT & INDUSTRIAL

83 Facilities

4 Facilities

37 Facilities

100+ Commodities Merchandised

1.3M Tons of Feed Products Produced

10 Farm Centers

38M Tonnes Traded

790M Pounds of Veg Oils Merchandised

1.9M Tons Sold

180M Bushel Grain Storage Capacity

533M Gallons of Ethanol Produced

30+ U.S. Patents

39M Gallons of E-85 Produced

Note: Volumes are as of December 31, 2022. Facility count as of August 16, 2023.

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Disclaimer

The Andersons Inc. published this content on 21 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 August 2023 15:48:05 UTC.