ARS 1 odcfy2025annualreportfin.htm ARS
Annual Report2025

LAYING THE GROUNDWORK FOR SUSTAINABLE GROWTH Over the past few years, we have made significant capital investments in our plant infrastructure designed not only to maintain the strength and reliability of our operations, but also to position the Company for sustainable growth. These investments go beyond replacing aging assets with modern, more efficient systems. They also expand our production capabilities, improve throughput, and create additional capacity to support increasing customer demand. By strategically upgrading equipment and facilities, we are able to enhance operational flexibility and efficiency, save costs, and pursue our growth strategies across the cat litter, renewable diesel and animal health markets. These initiatives are building a stronger foundation for the future, ensuring that we have the scale and resources to meet today’s needs while fueling tomorrow’s growth. MINE TO MARKET ANIMAL HEALTH LIGHTWEIGHT LITTER RENEWABLE DIESEL Creating Value from Sorbent Minerals MISSION CRYSTAL LITTER

Dear Oil-Dri Stakeholder, Fiscal year 2025 was another record year for the Company and represented our third year of playing “Miney Ball” with fantastic results. What is Miney Ball you ask? It is Oil-Dri’s version of Money Ball, the data analytic methods employed by baseball general managers to help them make better lineup decisions for their teams. Miney Ball for us is all about making data-driven decisions. This approach has become a part of our culture and continues to drive measurable performance across the entire business. My father always said, “Everyone is entitled to their opinions, but they are not entitled to the facts.” How right he was! He also used to say, “Earnings are an opinion, cash is a fact.” These principles remain at the forefront of how we manage the Company. The team pulled together this year not only to deliver record sales and profits, but also robust cash generation. We began the year with over $23 million in cash and cash equivalents. During the past twelve-month period, we invested $33 million in capital expenditures, $8 million in dividends, and paid down $11 million of debt. Even with these significant outlays, we finished the year with over $50 million in cash and cash equivalents. I am grateful to our nearly 1,000 teammates worldwide who made these results a reality through their dedication and hard work. Our capital expenditures go toward maintaining and improving our plants, ensuring our teammates’ safety, allowing us to continue providing outstanding service to our customers and implementing growth and cost savings projects. Our facilities have never been in better shape and are the foundation on which current and future growth can be built. That said, our commitment to continuous improvement remains as strong as ever, and we plan to make significant investments in our infrastructure moving forward.” We head into fiscal year 2026 recognizing that the first six months of the fiscal year may be challenging from a year-over-year perspective due to our strong performance in the first half of 2025. However, while we do not give formal earnings guidance, our confidence remains high for the year as a whole. This outlook stems from the momentum we have built across the company. Our animal health business continues to expand with new trials and customers. The lightweight cat litter segment is growing as a percentage of the entire category, which bodes well for our lightweight brands and the private label lightweight litter products we manufacture for our retail partners. The same can be said for our crystal cat litter products. We are very pleased with the Ultra Pet Company, Inc. acquisition and fully expect to grow the business with branded and private label items. Our diverse mix of products, markets, customers, and channels continues to be a major source of strength for the Company. All businesses are working together to enable us to Create Value from Sorbent Minerals. As we begin our 85 year in business, I want to extend my sincere gratitude to our shareholders, customers, suppliers and Oil-Dri teammates who have helped us achieve this significant milestone. We are proud of our longevity and believe that the best is yet to come! th LETTER TO STAKEHOLDERS “OUR FACILITIES HAVE NEVER BEEN IN BETTER SHAPE AND ARE THE FOUNDATION ON WHICH CURRENT AND FUTURE GROWTH CAN BE BUILT.”

2023 2024 2025 $400 $450 $500 $550 $600 2023 2024 2025 $100 $120 $140 $160 $180 KEY METRICS BALANCE SHEET DATA NET SALES / TON GROSS PROFIT / TON INCOME STATEMENT DATA PER SHARE DATA* Return on Average Assets‌ Return on Average Shareholder Equity‌ Return on Invested Capital‌ Cash and Cash Equivalents Total Assets Notes Payable Working Capital Net Sales‌ Gross Profit‌ Net Income Attributable to Oil-Dri‌ Diluted Earnings per Share - Common Stock Paid Dividend per Share - Common Stock Book Value per Share † 2024 2024 2024 2024 2025 2025 2025 2025 2023 2023 2023 2023 12.3% 20.3% 14.3% $23,481 $354,605 $50,774 $80,481 $437,587 $125,094 $39,426 $2.72 $0.58 $14.43 14.5%‌ 23.0%‌ 17.3%‌ $50,458‌ $391,677‌ $39,817‌ $108,196‌ $485,572‌ $143,083‌ $53,996‌ $3.70‌ $0.62‌ $17.69‌ 11.0% 18.1% 15.7% $31,754 $286,235 $31,827 $77,739 $413,021 $103,227 $29,551 $2.07 $0.56 $12.27 FINANCIAL HIGHLIGHTS Fiscal Years End July 31 Dollar Amount in Thousands (Except Per Share Data) $509 $127 $566 $162 $599 $176 * Prior year per share data has been updated to reflect the 2-for-1 stock-split in January 2025. † Book Value per Share is based on total shares outstanding at the end of the fiscal year.

BOARD OF DIRECTORS Daniel S. Jaffee Chairman of the Board, President & Chief Executive Officer Lawrence E. Washow Vice Chairman of the Board, Chairman, Aspire Brands, Inc. George C. Roeth Lead Director of the Board Ellen-Blair Chube Former Managing Director & Client Service Officer, William Blair & Company Paul M. Hindsley Senior Director, Investment Banking William Blair & Company Michael A. Nemeroff President & Chief Executive Officer, Vedder Price P.C. Amy L. Ryan Founder & Chief Circular Economist, ESGStrategies Patricia J. Schmeda Global Chief Information Officer Wahl Clipper Corporation Allan H. Selig Commissioner Emeritus of Major League Baseball President & Chairman, Selig Leasing Company Inc. President, AHS Investments, LLC EXECUTIVE OFFICERS Daniel S. Jaffee President & Chief Executive Officer Susan M. Kreh Chief Financial Officer and Chief Information Officer Christopher B. Lamson Group Vice President of Business to Business & Strategic Growth Initiatives Aaron V. Christiansen Vice President of Operations Laura G. Scheland Vice President & General Manager of Consumer Products Division W. Wade Robey, Ph.D. Vice President of Agriculture, Oil-Dri Corporation of America and President of Amlan International INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Grant Thornton LLP INVESTOR INQUIRIES NYSE: ODC Please direct all inquiries to: Leslie A. Garber (312) 321-1515 InvestorRelations@oildri.com Oil-Dri Corporation of America Attention: Investor Relations 410 North Michigan Avenue Suite 400 Chicago, Illinois 60611-4213 www.oildri.com Stockholders with inquiries regarding stock transfers, change of ownership, change of address or dividend payments should contact the company’s registrar and transfer agent: Computershare Investor Services P.O. Box 43006 Providence, RI 02940-3006 Courier Delivery: 150 Royall St., Suite 101 Canton, MA 02021 (877) 373-6374 VIRTUAL ANNUAL MEETING On Tuesday, December 9, 2025, at 9:30 a.m. CT, Oil-Dri Corporation of America will hold its 2025 Annual Meeting of Stockholders. Please join our virtual meeting by visiting www.virtualshareholdermeeting.com/ODC2025 ®2025 Oil-Dri Corporation of America

410 N. MICHIGAN AVENUE, SUITE 400 • CHIGAGO, ILLINOIS 60611