Alico, Inc.

Item 1.01. Entry into a Material Definitive Agreement. On June 18, 2026, Alico, Inc., (the “Company”), entered into an Agricultural Lease Agreement with United States Sugar Corporation (“U.S. Sugar”), for approximately 3,280 acres of real property located in Hendry County, Florida. Among other things, the agreement provides for U.S. Sugar to lease the property for agricultural and land preparation activities. The initial term of the lease commences on July 1, 2026 and expires on June 30, 2027, subject to U.S. Sugar’s right to extend the lease for an additional ten-year term in accordance with the terms of the agreement. The agreement also grants U.S. Sugar an option to purchase the leased premises during the option period, subject to certain terms and conditions. If the option is exercised on or before June 30, 2029, the purchase price for the property is $29,520,000, based on approximately 3,280 acres at $9,000 per acre, subject to an annual increase and certain per acre adjustments. If the lease is extended for the renewal term, the option period will be extended through June 30, 2031. The agreement contains customary provisions regarding permitted use, compliance with legal requirements, environmental matters, assignment and subleasing, defaults and remedies, indemnification, and governing law. The foregoing description of the agreement is qualified in its entirety by reference to the full text of the agreement, which will be filed with the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.