November-December 2025

This issue of Almond Facts covers Blue Diamond’s annual meeting, which highlighted a year of transformation with higher revenues, net sales, and grower payments. Leadership emphasized cost savings, innovation, and programs supporting future ag professionals as the cooperative navigates strategic change. Marketing efforts included a successful Halloween “Christmas Creep” activation and upcoming almondmilk launches, while the Ag Council secured key legislative improvements and continues advocating for climate program funding.

NOV-DEC 2025

NEWS, VIEWS, AND INDUSTRY INSIGHT

115th Annual Meeting Recap

Advocacy Report with Ag Council

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ALMOND FACTS

NOV–DEC 2025

Contents

10 FIELD TEAM 12 ANNUAL GROWERS MEETING 16 MARKET REPORT 20 NEWS IN A NUTSHELL 28 CORNERING THE MARKET 30 GROWING THE GOODNESS 32 ADVOCACY REPORT 38 IN YOUR ORCHARD 46 CLASSIFIED ADS

The annual Blue Diamond business meeting in Modesto, Ca

Features 6 President’s Corner At the annual meeting, president and CEO, Kai Bockmann shared that this was a year of transformation with higher revenues, net sales and grower payments despite market challenges. Kai and the leadership team are focused on cost reductions, innovation, and new markets to strengthen long-term success. 8 Chairman‘s Address At Blue Diamond ’s annual meeting, chairman of the board, Steve Van Duyn highlighted leadership and scholarship programs supporting future ag professionals. Van Duyn expressed strong confidence in the executive team as Blue Diamond moves through a period of transition and future-focused strategy.

28 “Christmas Creep” Activation on Halloween Blue Diamond launched Christmas early with a bold Halloween “Christmas Creep” activation that drew thousands to an immersive Almonds and More experience. The brand is now wrapping up its Big Ten Football presence and shifting to upcoming launches, including new almondmilk products! 32 Advocacy Report with Ag Council The Ag Council is advocating for California‘s ag sector regarding the implementation of the new SB 54 packaging law. Learn about the secured amendments to limit the ultra- processed food bill (AB 1264) to school-related food. They are also seeking state funding for key climate programs that support emissions reductions within the food and ag industry.

ON THE COVER: Christmas is around the corner, so get your holiday almonds!

NOVEMBER–DECEMBER 2025

Kai Bockmann, President and CEO

ALMOND FACTS STAFF Blue Diamond Growers Communications Department, communications@bdgrowers.com Jillian Luna, Managing Editor Mel Machado, Contributing Photographer

Gray Allen, Advertising Sales 916.783.4334 & 916.765.3234

Blue Diamond , the world’s largest processor and marketer of almonds, exports to over 100 countries. Almond Facts, established in 1922, is published bimonthly by Blue Diamond Growers , 1802 C Street, Sacramento, California 95811. Address all correspondence to the Editor, Almond Facts, P.O. Box 1768, Sacramento, California 95812. Advertising subscription rates provided upon request. Blue Diamond is a registered trademark and marketing brand of Blue Diamond Growers . Other registered trademarks are The Almond People, Smokehouse, Golden State, Celebration, From the Valleys of California, Confetti and Almond Facts. Blue Diamond Growers does not endorse or verify statements made by advertisers within this publication. Blue Diamond reserves the right to refuse advertising. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

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ALMOND FACTS

Blue Diamond Growers does not endorse or verify statements made by advertisers within this publication.

PRESIDENT’S CORNER

“GROWING TOGETHER” ANNUAL MEETING 2025 President & CEO’s Speech It has been quite a year of change, but we are forging ahead together. It has been tough out there for many industries, especially in the food and beverage industry. For Blue Diamond Growers, revenues and net sales were up, grower payments were up, and fortunately, markets are also continuing to improve.

Kai Bockmann President & CEO

However, our payment relative to our industry peers was disappointing. Over the last decade, we’ve done well relative to our peers, but this year was different. To take accountability for the result, to provide context on how we got here, to address concerns, and to dispel rumors, leadership spent weeks traveling through the Valley to meet with many of you. Most importantly, those conversations focused on our path forward and what we are doing considering our headwinds. If you were at our annual meeting, you heard us say that our business is in fact doing well, but this is a marathon, not a sprint. Revenues and net sales were higher than the previous year, grower payment was higher than the previous year, and our balance sheet remains very robust. This has been a year of transformation. We embarked on the biggest change journey in our history to reduce our cost structure. We accelerated our innovation pipeline to get into new products and new markets, moving away from our overdependence on Almond Breeze ® and Snack Nuts.

The market is more volatile than ever. Consumers are shifting and we face an inflationary environment and tariff uncertainty. To win, we need to stay ahead. We need to evolve and adapt, because volatility is the new normal. Blue Diamond has been successful for 115 years as it has shown resilience in the face of change. This year was full of change: a brand refresh, new products, new markets, and new consumers. Difficult but necessary

ALMOND FACTS

Mel Machado, Carmen Bourgaize, Jeff Hatfield, and Kai Bockmann

changes, including the Sacramento plant closure and corporate staff reduction, will result in long-term savings for the Cooperative. These changes do not happen overnight, but they set us up for the future. We have a culture of agility and nimbleness, and we are moving away from initiatives that don’t generate a strong return for our growers. Even though we are on a major change journey, what hasn’t changed is our commitment to our growers. You are at the heart of everything we do. We are pivoting and transforming Blue Diamond for long-term success. We’ve seen 115 years of good times and some tough times. The exciting changes we are making will set us up to enjoy the good times and navigate the tough times for another 115 years. Despite recent headwinds, we have a strong balance sheet. We have flourishing brands that continue to grow our market-leading positions. We have an unmatched innovation pipeline, and we continue to drive efficiencies and reduce costs. Most importantly, we have a highly motivated team focused only on one thing — delivering higher grower returns. Thank you to our teammates and our board for their passion and commitment to working hard for our growers. Most importantly, thank you, our growers. You are the backbone of our Blue Diamond cooperative. As you look ahead, we want you to have confidence in our direction and the opportunities ahead, and confidence in knowing that we fight for you every day to drive higher returns. From my family to yours, thank you, and Happy Holidays.

Kai Bockmann President & CEO

NOVEMBER–DECEMBER 2025

FROM YOUR CHAIRMAN

CHAIRMAN OF THE BOARD ADDRESS — ANNUAL MEETING 2025

Welcome to the 115th Annual Meeting of the Blue Diamond Growers cooperative. Firstly, thank you to our military veterans for your service and sacrifice for our country. We are honored that you are part of our Blue Diamond family. To show our appreciation, every Veterans Day, our Blue Diamond facilities host annual flag raising ceremonies followed by breakfast for our team members and retirees who are veterans. These events are always well attended and we’re grateful to have the opportunity to honor our Blue Diamond employees who are military veterans.

Stephen Van Duyn Chairman of the Board

Thank you to John Monroe for his years serving on the board. John completed his service this year after sharing his experience, not just in almond farming, but with his engineering mind. John served as Governance Committee chair and he kept us running efficiently. He also chaired the Blue Diamond Growers Foundation. John’s passion for the next generation of California farmers is contagious, and it is because of his dedication and strong efforts that hundreds of students have benefited from scholarships provided by the Foundation. John takes great pride in being part of the board that hired Kai as our president and CEO, stating that “Kai brings energy and focus and challenges us to think bigger and move faster to strengthen grower returns.” John has been truly valuable to our Board and to California farming. As farmers, we are Growing Together alongside our cooperative through dedication to the next generation of farmers and industry leaders. Blue Diamond is dedicated to fostering leadership through several programs that support current and future Blue Diamond members and industry professionals. Since 1994, the Blue Diamond Leadership Program has had over 550 members graduate to become voices and advocates for Blue

Diamond and for the ag industry. While the program was on hiatus for 2025, applications for the 2026 program closed earlier this month with much anticipation for the opening session in January. The second session will follow in June. I look forward to hearing how the program influences the 2026 class and in turn, how they will influence the future of California farming. I’d like to also thank Nick Blom for serving as chair of this vital program. Blue Diamond also supports the next generation of ag leaders by providing college scholarships to local students through the Blue Diamond Growers Foundation. 250 scholarships have been awarded by the Foundation since 2011. The awards aid in these students’ success in achieving their goals of becoming ag professionals. Again, thank you to the Foundation’s exiting president, John Monroe, for working on behalf of the next generation of farmers. Please consider supporting our Foundation and the future of California farming by supporting these students. Since 2017, Blue Diamond Growers and the California Future Farmers of America (FFA) have partnered in the pursuit of investing in the next generation of farmers, food

ALMOND FACTS

producers, and ag leaders. Our partnership for the Give the Gift of Blue initiative during Giving Tuesday provides deserving students with FFA jackets and uniforms. Through Blue Diamond ’s and your support, FFA has provided 5,717 jackets to students across the state – this is an incredible achievement and one we are very proud of. We are excited to announce that for the ninth consecutive year, Blue Diamond will match your donations to FFA on Giving Tuesday, December 2, up to $25,000 to help raise funds for students to receive their iconic blue jackets. Thank you all, for being such strong supporters of our FFA students, and thank you to FFA for all the work you do for farming. The 2025 Grower Ambassador of the Year award is a third-generation almond farmer whose family has been Blue Diamond members for nearly fifty years. Currently in his final year of his MBA program at Fresno Pacific University School of Business, this individual has great pride in being a Blue Diamond member.

Strategic Ag Innovation

Committee, Board of Directors for 8 years, and two- time vice chair. He savors being part of a team that creates solutions to challenges issues in the industry and acting as a voice of change for farmers.

Left: Steve Van Duyn with John Monroe. Right: Steve Van Duyn and George Goshgarian Jr

helped move the Co-op forward. Our leaders have built upon the foundation of those before them. Now, as we are moving through this next chapter, I have complete confidence in our current CEO, Kai Bockmann. In his two and a half years at the helm, Kai has brought clarity, discipline, and a strategic vision that is strengthening our foundation and positioning Blue Diamond for a strong, successful, sustainable future. Thank you to the Blue Diamond Board of Directors and our Leadership Team for walking us through the strategic plan. Kai and the team are working hard to market and sell your almonds to new and existing audiences to ensure a bright, lasting future for Blue Diamond . We’re not going anywhere, and with this team in place, I am confident that will remain true.

To quote George, he says that “Serving at the Almond Board gives even the smallest farming operation a seat at the table. I’ve been very proud to represent Blue Diamond at the Almond Board of California for the last decade and a half.” I’m so grateful for families like the Goshgarians who keep our industry so strong. My own family remains deeply committed to Blue Diamond because of the dedication and hard work of our entire team—people who strive every day to deliver the best possible returns for our growers in a constantly evolving market. Today, Blue Diamond is in a period of transition. While transitions can bring challenges, they are also moments of renewal and opportunity. What gives us confidence is the strength of our leadership and the unity of our cooperative. Throughout our long history, Blue Diamond has navigated both prosperous and difficult seasons. Each chapter, and each CEO, has contributed unique strengths that

This year’s Chairman’s Ambassador of the Year award recipient is George Goshgarian Jr.

For over 13 years, George has faithfully

served in various capacities at the Almond Board

including the Environmental Committee, Almond Quality and Food Safety Services Committee,

Stephen Van Duyn Chairman of the Board

NOVEMBER–DECEMBER 2025

FIELD TEAM

Regional Managers

Sr. Vice President, Global Supply Chain Steve Schult (916) 446-8383

Tehama, Butte, Glenn, Sutter, & Yuba Christine Ivory, (530) 518-9109 Colusa, Yolo & Solano Nicole Jansen, (530) 338-6440 Sacramento County, San Joaquin County, North of Hwy 205 & East of San Joaquin River KC Clendenin, (209) 596-5375 San Joaquin County, West of San Joaquin River & South of Hwy 205 Stanislaus County, North of Tuolumne River & Hwy 132 Justin Elam, (209) 303-7306 Stanislaus County, East of Hwy 99, South of Tuolumne River Austin Jackson, (209) 417-2010 Stanislaus County, West of Hwy 99, South of Tuolumne River, South of Grayson & Howard Road’s West of San Joaquin River Merced County, North of Merced River & Hills Ferry & Stuhr Roads Trent Voss, (209) 470-5981 Merced County, South of Merced River & Hills Ferry Merced County, South of Hwy 140 Madera County, North of Avenue 12, Firebaugh Blvd, Avenue 7½, & W. Nees Avenue Carla Youngblood, (559) 240-0906 Madera County, South of Avenue 12, Firebaugh Blvd, Avenue 7½ & W. Nees Avenue, Fresno County, North of Hwy 201/Avenue 400, North of Conejo Avenue & Kamm Avenue, West of Derrick Avenue Ashley Correia, (559) 356-1584 Fresno County, South of Hwy 201/Avenue 400, South of Conejo Avenue & Kamm Avenue, East of Derrick Avenue, Tulare County, Kings County, & Kern County Anthony Scudder, (559) 470-9731 Membership Office Jennifer Claussen Supervisor – Member Relations Administration (209) 545-6225 Daniel Dekeyrel Member Relations Coordinator (Delivery Tags) (209) 545-6261 & Stuhr Roads, North of Hwy 140 Kenny Miyamoto, (209) 323-8454

Chief Agricultural Officer Mel Machado (209) 545-6222 – Salida (209) 531-6352 – Cellular

ALMOND FACTS

2026 Grower Liaison Committee Members GLC members to begin their service at the January 2026 GLC meeting.

LEGEND

DISTRICT 1

DISTRICT 2

Kelli Evans Dan Cummings P. Samantha Lewis Larry Bradley Luke Konyn

Michael Doherty John Monroe Elaine Rominger Gerald Rominger Catherine Marsh Michael Samra Jacob Amsler Dustin Timothy Sid LaGrande Jonnalee Dunn Josh Campbell Ryan Finnen Ashley Dowden Jake Amsler Joe Ferrini Joe Martinez Gabe Grimmer

Chair Vice-Chair Ex-Officio Director Appointed (Member-at-Large)

Tom Knowles Steve Carlos

Michael Montz Brian Erickson Ray Antonowich Daniel Varner Fred Montgomery Mark Mead

DISTRICT 3 Dale Van Groningen John Thoming Tim Mohler Jeff Stuit Jack Dalton Clayton Bogetti Don Freitas Andrew Kamper John Almeida Jordan Van Vliet

DISTRICT 4

George te Velde Kevin Fondse Kenneth Roos Spencer Franceschetti Martin Adrian Lukas Doornenbal Ed Tilma John deVisser Scott Sand Wayne Bruns Joe Martin Brandon Longstreth Connor Wagner Dwain Zack

For Grower Liaison contact information, please contact your regional manager.

Nathan Mussi Michael Petz Zack Reinstein

DISTRICT 5

DISTRICT 6

DISTRICT 8

DISTRICT 9

DISTRICT 7

Stephen Van Duyn Neil Van Duyn James Kinzie Gordon Heinrich Chris Vanderstoel Jon Beck Jonathan Flora

Nick Blom Charles Crivelli III Steve Vilas Steve Scheuber Allen Peterson Jeff Lee Matt Romero John Hack Stan Chance Trevor Cordova Don Clark Bob Marchy Patrick Machado Bart Muller

Matt Efird George Goshgarian John Locker Andrew Cunha Ryan Metzler Michael Keith Smith

Kent Stenderup Clinton Shick Ankit Behl Sam Ghilarducci Garrett Gilcrease John Allen Doug Kindig Brian Medeiros Karmjeet Jhandi Keith Gilbert Lisa Marroquin Harjinder Gill Mark Tos

Dan Mendenhall Robert J. Weimer Steve Moeller John Pereira Bryan Jacobs Rick Scoto Dante Migliazzo Paul Atwal Minda Nespoli Jed Kruppa Steve Moreda Scott Sherman Dan Smith

Ranvir Tung Kam Bopari

Bob Kulina Cody Vella

Mitch Bagdasarian Mike Mohammadi Steve Bains Jay Mahil Macklin Riffel

Naomi Layland Garret Bowman Brandon Riddle Paul Vermeulen

1 1

NOVEMBER–DECEMBER 2025

ANNUAL MEETING

CEU Sessions At the annual meeting, Blue Diamond held two grower continuing education seminars focused on general standards of care and local pesticide use updates as well as an overview of almond acreage and economic factors affecting the crop quality and pest management decisions. Speakers included Blue Diamond ’s chief agricultural officer, Mel Machado and representatives from the Stanislaus County Agricultural Commissioner’s Office.

Stronger Together: Driving the Industry Forward This panel, moderated by Matt Efird, Blue Diamond board director and PAC Committee chair, brought together Clarice Turner, president and CEO of Almond Board of California, Alexi Rodriguez, president and CEO of the Almond Alliance, and Alicia Rockwell, Blue Diamond chief government and public affairs officer. The panel discussed the industry’s most pressing challenges from crop estimates and regulatory pressures to trade, tariffs, and global market growth. The team shared how collaborative advocacy and coordinated strategies are strengthening the industry and creating new opportunities for California almond growers.

Industry affairs panel session with Matt Efird, Clarice Turner, Alexi Rodriguez, and Alicia Rockwell

Translating Orchard Stewardship to Market Value Blue Diamond ’s head of sustainability, Dr. Dan Sonke explained how Blue Diamond wins over new customers through growers’ dedicated stewardship practices and how the Orchard Stewardship Incentive Program (OSIP) and the USDA grant impact those practices.

Dan Sonke leads the stewardship session

ALMOND FACTS

Industry affairs panel session

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NOVEMBER–DECEMBER 2025

ANNUAL MEETING

ALMOND FACTS

NOVEMBER–DECEMBER 2025

MARKET REPORT

ALMOND MARKET UPDATE

Blue Diamond Almond Market Report — November 14, 2025

OVERVIEW For the third month of the crop year, industry shipments totaled 249.2 million pounds, reflecting a 26% increase from last month, though 3.6% lower than the same period last year. Exports reached 201 million pounds, marking a 36% increase from last month, and a 5.2% increase compared to last year. This indicates continued strength in the international marketplace. Domestic shipments reached 48.2 million pounds, a 2.7% decrease from last month and were down 28.5% versus the prior year. While overall October shipments came in slightly below market expectations, driven primarily by softness in domestic demand, the export sector continues to show resilience. Forward momentum is expected to persist as global markets move to replenish inventories ahead of the expected holiday consumption and early-year buying cycles.

SHIPMENTS India:

October shipments totaled 28.3 million pounds, nearly even with the prior month and down 4% from the prior year. The year-to-date gap is currently at 29%, with total shipments at 72.8 million pounds, compared to 102.1 million pounds at this time last year. October’s inshell shipments show that India is still hesitant to book at California origin prices as uncommitted cargo shipped from California continues to suppress the local market pricing and sentiment. The market remains under-covered, and the timing and scale of further Indian buying will be a key driver for pricing into the end of the year.

ALMOND FACTS

China/Hong Kong/Vietnam: October shipments into the region came in at 20.4 million pounds, with Vietnam once again carrying the load. The market continues to show upside, posting 30.1 million pounds for the month, which is 132% up for October and a 94% increase year to date, a remarkable run by any standard. On the flip side, China/Hong Kong remains soft, reflecting the structural slowdown we’ve been watching all season. Shipments were down 73% in October and 75% year to date. Combined shipments to the broader region flattened out this month, down 2% and 11% on the year. We expect to see the region pick up next month with the recent 10% tariff reduction in China. Europe: Europe continues to be the standout growth region early into this crop year. Total shipments to Europe reached roughly 144 million pounds year to date, up about 29% versus last year. Western Europe alone is up 31%, with Spain, Italy, Germany, and the Netherlands leading the gains. Buyers remain selective and value focused, but the growth demonstrates that European demand is stepping up to absorb a meaningful share of this year’s crop. Middle East: Shipments to the Middle East totaled 47.2 million pounds in October, down 17.4% from the prior month and 9.6% year over year. Despite the softer results, the region remains a core growth market for California almonds. While volume growth trails Europe, demand for quality products continues to improve, with buyers increasingly targeting premium grades and larger sizes.

NOVEMBER–DECEMBER 2025

MARKET REPORT

Market Perspective The October report brought greater clarity to market fundamentals and reinforced a firming tone across the industry. At present, supply is clearly tighter than last year, and export demand continues to build momentum with shipments tracking ahead of prior-year levels. As we move through the remainder of Q4 and into early 2026, market sentiment points toward a stable-to-firm trajectory, with potential for further strength should India and other key destinations accelerate coverage. As the market transitions into a more disciplined and sustainable balance between supply and demand, confidence is returning to both sides of the trade. Stable fundamentals and consistent export performance provide a strong foundation for informed purchasing decisions and long-term value creation. CROP Crop receipts through October reached 1.7 million pounds, reflecting a 7.9% decline compared to the previous crop year, largely driven by a slower receipt pace. Overall crop receipts are lighter, driven by lower Nonpareil yields and overall turnouts (kernel weight as a share of hull, shell, and kernel). Given these factors and analyzing year-over-year orchard comparisons, overall crop size will challenge even the viability of the Subjective Estimate’s 2.8-billion-pound crop. Pollinizer receipts through December will inform overall crop size. In October, growers attempted to complete in-field harvest activities, but some were delayed by a strong weather system. The storm forced growers and hullers to adjust operations, focusing on incoming field deliveries versus running stockpiles. Higher reject levels have been observed in later-harvesting varieties; however, overall reject levels are lower than the 2023 and 2024 crop years. LandIQ will publish the 2025 Standing Acreage Final Estimate in November, providing insights into orchard removals, new plantings and bearing acres. This will inform future crop potential. Domestic: October shipments reached 48.2 million pounds, down 28.5% from the same period last year. The domestic market has now seen twelve consecutive months of softer demand, resulting in the market being down 21.2%. Corresponding commitments increased by just over 5% from last month with a decline from last year of 7.5%. Buyers have been assessing holiday projections and coverage through Q1 of 2026, waiting for a drop in pricing to determine when to step into the market, as there is ample demand to be covered for the forward ship periods. COMMITMENTS Total commitments currently stand at 561.5 million pounds, a 16.7% decrease from last year. New sales for the month totaled 261.8 million pounds with the domestic market layering in an additional 62.5 million pounds, while exports added an additional 199.3 million pounds of new coverage. In total, commitments for the domestic market now stand at 198.9 million pounds, and exports stand at 458.1 million pounds. Uncommitted inventory sits at 982.2 million pounds versus prior year 997.1 million pounds, down 1.5%.

ALMOND FACTS

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NOVEMBER–DECEMBER 2025

NEWS IN A NUTSHELL

Planning for Tomorrow: Blue Diamond CEO Highlights Ongoing Retooling Efforts While Blue Diamond Growers provided members with industry-leading returns for the past 11 years, such was not the case with the 2024 crop when the cooperative trailed some competitors. West Coast Nut recently sat down with CEO Kai Bockmann to discuss the challenges the co-op faces, the steps it is taking to address them and the exciting opportunities Bockman sees moving forward.

To stir consumer excitement, Blue Diamond has launched Almonds and More mixed nuts, a product line it hasn’t been in historically.

Q. Let’s discuss a few of the challenges and the programs Blue Diamond has developed to address them. Consumer preferences change very quickly. We’ve been on quite a ride over the last decade when non-dairy beverages saw phenomenal growth. As an example, our Almond Breeze ® business was a big driver of our returns. We were in an enviable position when that trend took off, and the Almond Breeze ® business grew at an exponential rate up to 2021. Post-COVID, there’s been a decline in consumption of not just almondmilk but all non-dairy beverages.

There are a couple of contributors, with one being people’s paychecks only going so far. They’re having to make tough choices about what to put in their grocery basket, and they’re coming back to dairy milk, which is at a lower price point. The good news is we continue to increase our share in that space. We’re still the market-leading brand even though we have formidable competitors, whether it’s on the almondmilk side or other non-dairy options. We remain relevant with consumers, but we have to continue to innovate and develop new products to stay that way. As an example, we are launching a new line of

ALMOND FACTS

almondmilk under our Blue Diamond brand with just three ingredients: almonds, water and sea salt. Having a “clean label” helps differentiate ourselves from what’s out there, and we have the brand equity because everybody knows Blue Diamond . Q. What is the co-op doing to stir consumer excitement? Shoppers tend to make their purchase decisions at the shelf within just a few seconds. We need to attract their attention. So we’re doing a total brand refresh because we haven’t changed our packaging or logo for over 20 years. We need to bring excitement back to the category, and it’s already resonating with consumers and key retail decision-makers. We’re seeing increased turns of our products, whether it’s Mike’s Hot Honey-flavored almonds or getting into mixed nuts with Almonds and More, something we haven’t done historically. It’s bringing a whole new generation of consumers to Blue Diamond . Forty percent of consumers who buy Almonds and More have never had a Blue Diamond product. So we’re excited about the brand relaunch, which has a whole new look and feel.

With it comes all the marketing, and not just the traditional outlets like TV and social media, but also in- store sampling. When we get people to try our product, they’re like, “Wow, this is pretty awesome.” The good news is we’re getting increased household penetration. This year alone, we’ve added 250,000 new households to our snack nuts business. We’re also getting into the produce department, which is a different part of the store that people haven’t seen us in before. We’ll continue to expand our portfolio to different parts of the store because we want to have an increasing share of the stomach. Q. How have decreased domestic almond shipments weighed on the co-op? Having a large domestic presence is a strength but also can be a detriment when consumers in that market have to tighten their belts financially. You have to have a diversified business so you’re not over reliant on any one outlet. If you look at grower returns for the 2023 crop, which was also a challenging year, our diversified business helped us outperform our industry peers.

NOVEMBER–DECEMBER 2025

NEWS IN A NUTSHELL

For us, it’s about not being reactive to short-term movements. We have to be agile and nimble, but at the same time we can’t abandon our disciplined, methodical approach when it comes to diversified products and markets. There are other amazing opportunities right in our backyard in the U.S. Q. How has Blue Diamond reacted to the uncertain export situation? It’s a very uncertain environment, and tariffs and non- tariff barriers are changing on a daily, weekly and monthly basis. We can’t focus on those elements outside our control. Instead, we focus on areas we can control. What we can control is making sure that in the big markets like China and India, we don’t put all our eggs in relatively few baskets. Take Canada as an example. We’ve been able to accelerate our growth even in light of the tariff situation.

It’s about making sure we’re in a lot of different markets. We rely on our resources to continue to lobby in Washington, D.C., to make sure lawmakers understand the impact tariffs have on our grower- members. And we’re looking for opportunities like in India, where they recently backtracked some of the tariffs they had in place. Q. How will closing the Sacramento plant benefit grower returns? This is a journey that will take us to June 2027, and it will mean stronger returns to our growers. We’re shutting down the largest almond processing plant in the world and letting go 600-plus employees so we can run as efficiently as possible. At the end of the day, we’ll have the same capabilities that we have today in two assets rather than three. (The two facilities to which he referred are in Turlock and Salida.)

ALMOND FACTS

We’re reducing our workforce by over 40%. So if we’re doing more with less, obviously it has a significant positive impact on our efficiencies and ultimately our grower returns. That’s what it’s all about. Q. How is Blue Diamond responding to lackluster grower returns? We’re not satisfied with the 2024 returns. We know our growers aren’t satisfied with them either. We made sizable investments five-plus years ago to meet forecast consumption that ultimately never materialized. Obviously, there’s a cost when you make significant investments that hits the bottom line and ultimately grower returns. The other thing I would add, we got fat in terms of overhead structure because we were trying to ramp up to match anticipated growth. Again, no one had a crystal ball, and things changed very quickly. Since I took over as CEO, we’ve reduced our corporate headcount to 2018 levels, and that’s before we even close the Sacramento plant. This year was a miss in terms of grower returns, but we’ve launched a lot of changes to ensure we regain our industry-leading position. Closing Sacramento was a difficult but necessary decision because we know it is the right decision for the longer term. If we didn’t do this now, we’d ultimately pay the price down the road. For us, it’s a marathon and not a sprint. We strongly believe future returns will reflect the decisions that we made, but they’ll take time. Blue Diamond has been around for 115 years. Our balance sheet is strong, our brand is flourishing, our product is amazing, and our people have never been more fired up to deliver the best possible return to our growers. These are tough times for sure, but I have never been more excited about what’s ahead. By Vicky Boyd. Reprinted with permission from West Coast Nut magazine.

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NOVEMBER–DECEMBER 2025

NEWS IN A NUTSHELL

# WeAreBlueDiamond Social Media Activity This month, Blue Diamond celebrated board director, Kristin Daley, for being selected as an NACD Directorship 100 honoree. Our team members had a bit of Halloween fun with a friendly costume competition. The Cooperative held its 115th annual meeting in Modesto, which was well attended and full of energy. Finally, we collaborated with influencers, the hilarious Holderness Family to bring our brand message to life.

ALMOND FACTS

BLUE DIAMOND INVESTMENT PROGRAMS

Current Investment Rates available as of December 1, 2025

Blue Diamond Growers offers members short-term and long- term investment programs. The objective of these programs is to serve as a competitive investment alternative for our members and provide Blue Diamond Growers with a steady source of funds. The interest rates effective December 1, 2025, for the program are listed here:

Short-Term Investment Certificate (STIC)

Long-Term Investment Certificate (LTIC) (Maturity Date of 6/30/2028)

Initial Investment Required

$1,000

$50,000

Interest Rate

4.75%

4.00%

(Variable, subject to change)

(Fixed rate)

For more information, contact your local Regional Manager, or Member Services at (209) 545-6225.

This summary does not constitute an offer to sell or a solicitation to purchase investment certificates. We will provide a package of documents for the programs to those members who are California residents and who express an interest in participating in the program.

NOVEMBER–DECEMBER 2025

NEWS IN A NUTSHELL

Cranberry & Almond Muffins Prep Time: 25 minutes Bake Time: 20 minutes Difficulty: Easy Serves up to: 12

Ingredients 2 large eggs

1 Tablespoon orange zest 1 teaspoon vanilla extract ¼ cup orange juice ¼ cup Almond Breeze ® Unsweetened Original Almondmilk ¼ cup honey 2 Tablespoons coconut oil, melted and cooled 2½ cups almond flour ½ cup coconut flour 1 teaspoon baking soda ¼ teaspoon salt 1 cup cranberries, thawed, if frozen ½ cup sliced almonds, roughly chopped

Directions 1. Preheat oven to 350° Prepare a muffin tin with liners or spray with nonstick cooking spray. 2. In a large bowl, whisk eggs, orange zest, vanilla extract, orange juice, almondmilk, honey and coconut oil together until well combined. 3. Stir in almond flour, coconut flour, baking soda, and salt until just combined. Fold in cranberries and almonds. Fill each muffin cup with batter and gently press to compact.

4. Bake 20-25 minutes, until a toothpick inserted in the center comes out clean. 5. Allow to cool about 10 minutes in tin, then remove to a wire rack. 6. Serve.

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Developed by: Stephanie Doan, Sr. Manager Product Development, Blue Diamond Growers Research & Development

Blue Diamond Almond Flour Holiday Gingerbread Cookies Prep Time: 120 minutes Cook Time: 12-16 minutes Difficulty: Easy Serves up to: 21/2 dozen

Ingredients 2½ cups Blue Diamond blanched almond flour ½ cup white rice flour ½ teaspoon xanthan gum 1½ teaspoons baking soda 2½ teaspoons ground ginger 1½ teaspoons ground cinnamon ¼ teaspoon ground clove ¼ teaspoon salt ¾ cup packed light brown sugar 1/3 cup unsalted butter 1 large egg 1 teaspoon vanilla extract ¼ cup molasses ½ cup sugar in a separate bowl

Directions 1. Whisk together almond flour, white rice flour, xanthan gum, baking soda, ginger, cinnamon, cloves, and salt in a large bowl and set aside. In large bowl using an electric mixer, beat butter and brown sugar together until light and fluffy. Beat in egg and vanilla until well mixed. Add molasses and beat until fully combined and no dark streaks remain, scraping down the sides and beaters as needed. 2. On low speed or by hand, slowly add blended dry ingredients. Mix until dough just comes together. Do not overmix. 3. Cover dough and refrigerate for at least one hour.

4. Preheat oven to 325°F . Prepare a baking sheet with parchment paper. 5. Place ½ cup sugar in a shallow bowl. 6. Scoop dough into tablespoon size balls and roll in sugar until fully covered. Place on baking sheet about 2 inches apart. Do not flatten. 7. Bake 12-16 minutes, until the edges are set and slightly browned and tops are cracked. 8. Allow cookies to cool for about 5 minutes on the baking sheet, then gently remove to wire rack to cool completely. 9. Enjoy!

NOVEMBER–DECEMBER 2025

CORNERING THE MARKET

Blue Diamond Stopped Trick-or-Treaters in Their Tracks with a Bold ”Christmas Creep” Activation on Halloween Night

Blue Diamond kicked off the season early this year with a bold “ Christmas Creep ” activation on Halloween night, celebrating the launch of the holiday-themed Almonds and More line. Leaning into the trend of earlier holiday enthusiasm, the team transformed a home on Diamond Avenue (fitting, right?) in South Pasadena into a full Christmas spectacle, complete with an Almonds and More Christmas tree, festive lights, snow machines, the Nutty Cruiser™, and a Santa photo station, weeks before anyone expected him. More than 4,000 trick-or-treaters visited the street, stopping in their tracks as

Christmas collided with Halloween. “The energy was electric. The Santa photo booth had a line all night and the Nutty Cruiser™ was a huge draw from the street. The lights looked even more magical as soon as the sun set,” said Blue Diamond brand manager, Tom Tran. Carolers performed throughout the evening while the team handed out thousands of Almonds and More samples featuring three bold flavors: Smokehouse, Roasted Salted, and Honey Roasted. This activation proves that when it comes to spreading joy (and delicious almonds), it‘s never too early to start the celebration.

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B1G Football + Almonds and More

Blue Diamond will wrap up its Big Ten Football presence at Fan Fest on December 5–6, with the Nutty Cruiser on-site and strong in-game branding during the championship. A new 15-second Almonds and More digital spot launched at the end of November across Big Ten Network and Connected TV.

Looking Ahead December marks the shipment of Blue Diamond ’s newest innovation— Blue Diamond Almondmilk , rolling out in four SKUs and showcasing at Kroger and Albertsons in January. The new year will also bring Thin Dipped promotions tied to wellness, influencer support, and additional programming across Blue Diamond brands.

NOVEMBER–DECEMBER 2025

GROWING THE GOODNESS

Almond Breeze ® Mower Raffle Supports FFA Blue Diamond was Thrilled to Provide an Amazing Raffle Item : A Craftsman riding mower that was featured in “The Obvious Choice” Almond Breeze ® TV commercial earlier this year. The raffle was held at Blue Diamond ’s 115th Annual Meeting with all ticket proceeds supporting the California FFA. The winner was announced at the meeting and attendees were thrilled to be part of an exciting raffle that supported the future leaders in California agriculture!

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Blue Diamond Growers Foundation Scholarship available for 2026 - 2027 School Year

Scholarship Requirements:

Must currently live in Almond Growing Regions of California Must intend to pursue college major in Agriculture related field, with specific emphasis on plant and crop-related majors Must have 3.3 GPA or higher Enrollment verification to a college or university offering a four-year degree will be required for disbursement of award funds Application deadline: March 31, 2026

Scan the QR to Apply

This is a one-time award. Applicants who have applied and not previously been awarded a Blue Diamond Growers Foundation Scholarship may re-apply. Scholarship is available to applicants entering any year of a four-year degree program.

Apply via the link: bit.ly/BDGF26-27

ADVOCACY REPORT

Leading the Way through California’s Bold Ambition Will Rogers said, “I don’t make jokes. I just watch the government and report the facts.” In all seriousness, it can occasionally be tough to find enjoyment in operating a business in California. Our farmers meet the boldest regulatory standards in the nation, if not the world, while providing for their own families. Every now and then, the hard edges of state laws and regulations can seem impossible to smooth out.

However, through innovation, strategy, and persistence, California’s ag community rises to the challenge time and time again to achieve advancements in sustainability, food safety, emissions reductions and more. Along the way, Ag Council is here to smooth out some of those hard edges you face on the farm and in food processing facilities to help you prosper as an important part of California’s diverse food ecosystem. This year, our focus continues to be on implementation of the state packaging law, SB 54, and pursuing the most optimal outcome for Blue Diamond and all of our members. In addition, AB 1264 (Gabriel), the ultra- processed food bill, was a strong focus that Ag Council was heavily engaged in throughout this legislative year. Ag Council also persists in our advocacy to attain funding for key climate programs that help food and agriculture dramatically lower emissions. Blue Diamond Growers remains a steadfast partner in each of these advocacy efforts and others. In all of this, Ag Council’s goal is always to help you, as a grower, succeed while also supporting Blue Diamond Growers as one of our heritage members that has been an integral part of our membership since 1919. Packaging Regulations Ag Council recently led a broad coalition of food and agricultural associations in submitting comments to CalRecycle regarding the latest draft regulations of SB 54, the Plastic Pollution Prevention and Packaging Producer Responsibility Act. The coalition emphasized the need for flexible compliance timelines, protection of trademarked or proprietary business information,

and compliance flexibility for packaging that protects product quality and food safety. Our letter calls on CalRecycle to maintain the categorical exclusions achieved by Ag Council and to acknowledge the feasibility concerns of the agriculture community in complying with the Act. For the almond sector, we are requesting that certain packaging be excluded due to food safety and the need to protect environmental and human health. Additionally, common industry protocol dictates that new packaging is tested and validated prior to commercial usage. Ag Council is making sure state regulators understand that food utilized in this process is discarded as it is not allowed for human or animal consumption. That said, testing new packaging for the purposes of this regulation could result in excessive food waste, which runs counter to California’s goal to reduce organic waste. On a positive note, almond byproducts are being tested in alternative packaging, and Ag Council is supporting investments in research and development to lower costs and improve efficiency in this space. The current options are not cost effective; however, we hope that over time, this will be an option for byproducts in the future.

To read the letter to CalRecycle, go to www.agcouncil.org/blog and scroll to the October 28 article.

Ultra-processed Food With bipartisan support, the Legislature pursued passage of an ultra-processed food (UPF) bill, AB 1264 (Gabriel), and it was signed into law by Governor

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Newsom in October. The measure defines UPF. It also requires the state to identify “UPF of concern” and “restricted school foods” and prohibits those foods in schools starting July 1, 2032. Though the original bill applied to all food and beverages, amendments to AB 1264 ensure the bill is limited to “food and beverages intended

Ag Council’s 2025 Influential Legislator Award presentation to Sen. Ashby. Chief gov’t and public affairs officer, Alicia Rockwell (first row, left) with Sen. Angelique Ashby (D-Sacramento) next to Rockwell pictured with Ag Council board members.

Though certainly not a perfect bill, Ag Council moved to a neutral position given the amendments the author added after extensive conversations, including the exclusions described above, the move to CDPH, and limiting AB 1264 to schools. Ag Funding Key to Reducing California’s Emissions Among the most successful programs that reduce greenhouse gas emissions in California are those operating in the food and agriculture sector, and the programs need Greenhouse Gas Reduction Fund (GGRF) funding to continue. In 2025, Ag Council and over 30 ag organizations united to request funding for specific programs via GGRF that substantially reduce emissions. Unfortunately, though billions are provided for other purposes this year, agriculture’s requests were not part of the final package. This includes programs in the top tier of all the California Climate Investment programs in terms of the significant amount of greenhouse gas emissions reduced for the dollars spent – providing the state with a strong return on investment. Most of the projects funded via the programs are also located in disadvantaged or low-income communities. In addition, the projects are advancing the latest technologies and serve as a model of innovation. Going forward, Ag Council and others are working to urge legislators and Governor Newsom to commit to funding these effective matching state grant programs,

for sale or to be served to school pupils on campus during the school day.” Ag Council was pleased with this narrowing of the bill to focus on UPF in schools. Ag Council staff worked extensively to pursue amendments to the bill, which incorporate exclusions to the definition of UPF, such as minimally processed food (comprises roasting and smoking, among other processes), Class 1 milk, and the removal of surface finishing agents (e.g., waxes used on fruit). We appreciate Governor Newsom for adding an amendment to AB 1264 to move regulatory authority from the Office of Environmental Health Hazard Assessment (OEHHA) to the California Department of Public Health (CDPH). Ag Council was among those who requested this change given OEHHA does not have expertise in food and nutrition. Under AB 1264, UPF is defined as a food or beverage containing high amounts of saturated fat, sodium or added sugar, and the food or beverage contains one of the substances listed in the bill (e.g., emulsifiers, thickeners, stabilizers, colors/coloring adjuncts, flavoring agents/enhancers, non-nutritive sweeteners, or surface- active agents, etc.). Salt, sodium chloride, natural spices and seasonings, as well as natural flavorings and colors — by themselves — do not categorize a food or beverage as UPF. Amendments were also included in AB 1264 to ensure that noncompliance with the bill does not create a private right of action, which would have made it easier to bring lawsuits.

NOVEMBER–DECEMBER 2025

ADVOCACY REPORT

and we appreciate Blue Diamond Growers ’ support as well. Those programs are: • Food Production Investment Program (FPIP) - $50 million • emissions reductions and energy efficiency improvements in California food production and processing via competitive grants • Sustainable Agricultural Waste Management - $75 million • soil incorporation, composting, biomass, and biochar of orchards and vineyards after removal • Livestock Methane Reduction Programs - $75 million • lowering emissions on dairy farms • FARMER Program - $200 million • ag equipment upgrades for cleaner- emitting tractors, trucks, and harvesters

Group from Blue Diamond participating in Ag Council's Legislative Day

Legislative Conference

Ag Council sends a huge “thank you” to our Blue Diamond board member Alicia Rockwell and all Blue Diamond attendees for joining us this past spring for our Legislative Conference. Attendees spent the day reaching out to dozens of legislators to discuss critical issues, such as water, budget items, and ultra-processed food. We appreciate all who helped us amplify agriculture’s voice on these consequential issues. Read more about Ag Council’s work at www.agcouncil.org.

Emily Rooney, President, Ag Council of California

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