[INVITE: Fireside Chat] JEF's Beverage, HPC, & Food Analysts

Research evidence excerpt

[INVITE: Fireside Chat] JEF's Beverage, HPC, & Food Analysts

ect security(ies) and subject

company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed

in this research report.

As is the case with all Jefferies employees, the analyst(s) responsible for the coverage of the financial instruments discussed in this report receives compensation

based in part on the overall performance of the firm, including investment banking income. We seek to update our research as appropriate, but various regulations

may prevent us from doing so. Aside from certain industry reports published on a periodic basis, the large majority of reports are published at irregular intervals

as appropriate in the analyst's judgement.

Investment Recommendation Record

(Article 3(1)e and Article 7 of MAR)

Recommendation Published May 21, 2026 18:16 P.M.

Recommendation Distributed May 22, 2026 10:00 A.M.

Company Specific Disclosures

Jefferies LLC is serving as exclusive financial advisor to Calavo Growers in the sale of the company to Mission Produce

Recipients located in Brazil should be aware that this communication is intended exclusively for institutional or professional investors The views expressed

herein reflect the personal opinions of the analyst who is based outside of Brazil and is not registered with the Brazilian Securities Exchange Commission CVM

This communication does not constitute an offer or solicitation to buy or sell any security nor does it represent a public distribution of research in Brazil

Steven G. DeSanctis owns a position in Procter & Gamble..An analyst named on the cover of this report or a member of their household holds an equity long