Universal Corp

During the fiscal quarter, our liquidity position remained strong, and our debt levels were down due to reduced working capital usage, driven by tobacco crop purchase timing and lower green tobacco prices.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Select Balance Sheet Items, Liquidity, and Debt Lower working capital usage on timing of tobacco crop purchases.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Total debt down $55.5 million at June 30, 2026, compared to June 30, 2025.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Net debt (non-GAAP) down $51.6 million at June 30, 2026, compared to June 30, 2025.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Net debt, net capitalization, and net debt to net capitalization ratio are also non-GAAP financial measures.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

These measures are not financial measures calculated in accordance with GAAP and should not be considered substitutes for total debt, total capitalization, total debt to total capitalization ratio, or any other operating or financial performance measures calculated in accordance with GAAP, and may not be comparable to similarly-titled measures reported by other companies.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Wigner, Chairman, President, and Chief Executive Officer of Universal, stated, We are starting fiscal year 2027 with confidence in the long-term strategic direction of our company.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

We are focused on creating sustainable value through disciplined execution across our businesses.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

In ingredients, we are leveraging our platform growth investments and focusing on improving commercial execution, facility utilization, and financial and operational efficiencies.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

We continued to implement our initiatives to strengthen the -- M O R E -- Universal Corporation Page 2 ingredients platform for long-term success, which include enhancements to leadership, systems, operational capabilities, and commercial execution.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Ongoing focus on strengthening commercial execution, improving facility utilization, and enhancing financial and operational efficiencies to offset high fixed operating costs and improve performance at our Lancaster facility.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Market headwinds included persistent weakness in the consumer-packaged-goods industry, supply constraints, particularly tight apple markets in the Pacific Northwest, inflationary pressures, and tariff volatility.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

In our ingredients business, revenue was down slightly from the prior year s quarter, and results continued to be negatively affected by persistent consumer market headwinds, high fixed costs at our expanded Lancaster facility, and longer-than-anticipated product development cycles.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Operating income down $31.5 million to $2.3 million on a less favorable product mix and lower carryover crop sales in the Tobacco Operations segment and continued market headwinds and high fixed costs in the Ingredients Operations segment.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Ingredients Operations Segment Revenue down $2.4 million, as sales of certain products were negatively impacted by market headwinds.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

These forward-looking statements are based upon management s current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results, performance, or achievements to be materially different from any anticipated results, prospects, performance, or achievements expressed or implied by such forward-looking statements.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Please also refer to the risks and uncertainties as discussed in Part I, Item 1A.

SEC original ↗Universal Corp — Earnings release (8-K exhibit)EX-99Aug 5, 2026