The Andersons, Inc. Hosts 2020 Investor Day

The Company Defines Growth Initiatives; Introduces Near- and Long-term Financial Milestones

MAUMEE, Ohio, Dec. 8, 2020 /CNW/ -- The Andersons Inc. (NASDAQ: ANDE) will hold its 2020 Investor Day virtually today with presentations by President and CEO Pat Bowe, Executive Vice President and CFO Brian Valentine, and group presidents Bill Krueger and Joe McNeely. The company will present its profitable growth strategy and capital allocation framework and its path to improving operating and free cash flows. The team will also provide an in-depth review of its four business segments and strategic initiatives to position the company for long-term success.

"We have made great progress since our December 2017 Investor Day despite challenging market conditions from time to time," said President and CEO Pat Bowe. "We are excited to host this investor day to provide the investment community with a deeper understanding of our company and the strategic initiatives we have put in place to drive profitable growth. We are working hard toward achieving our vision to be the most nimble and innovative North American ag supply chain company."

Strategic Growth Initiatives

• Drive margin expansion and reduce capital intensity
• Innovate and develop new products and services
• Grow profitably and leverage specialty market opportunities
  

"We completed the company's largest-ever acquisition almost two years ago and spent 2019 successfully integrating Lansing Trade Group into our operations," added Bowe. "This past year has been highlighted by managing through the COVID-19 pandemic, continuing to significantly reduce expenses and optimizing our management structure. As we move forward to 2021 and beyond, we are laser-focused on driving shareholder value through disciplined and strategic growth initiatives. Accordingly, we are introducing our near- and long-term financial milestones to the investment community."

Near- and Long-term Financial Milestones

• Generate EBITDA of $350 million to $375 million by calendar year 2023
• Reduce long-term debt by an additional $200 million to $250 million by year-end 2023
• Target a long-term-debt-to-EBITDA ratio of less than 2.5x by year-end 2023
• Continue disciplined approach to capital deployment and consistent positive cash generation
• Work steadily toward improved ROIC, with target of 200 bps above WACC

Event Webcast Details

The presentation, which includes question and answer sessions, will begin promptly at 9:00 a.m. EST and is expected to conclude at approximately 11:30 a.m. The public may access the event through a live webcast at https://event.on24.com/wcc/r/2804401/2E19F8C0D2BC1D6D9569A0B13C694FD9. Presentation materials will be posted to the Investors section of the Company's website today at approximately 8:30 a.m. EST. A replay of the webcast will be available at the same location soon after the presentation until December 8, 2021.

Forward-Looking Statements

This release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially. Without limitation, these risks include economic, weather and regulatory conditions, competition, the COVID-19 pandemic and the risk factors set forth from time to time in the Company's filings with the Securities and Exchange Commission. Although the Company believes that the assumptions upon which the financial information and its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct.

About The Andersons Inc.

Founded in 1947 in Maumee, Ohio, The Andersons Inc. (Nasdaq: ANDE) is a diversified company rooted in agriculture that conducts business in the commodity trading, ethanol, plant nutrient and rail sectors. Guided by its Statement of Principles, The Andersons strives to provide extraordinary service to its customers, help its employees improve, support its communities and increase the value of the company. For more information, please visit www.andersonsinc.com.

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