Market risk represents the risk of loss that may impact the financial position, results of operations, or cash flows of the Company due to adverse changes in financial or commodity market prices or rates. We are exposed to market risk in the areas of interest rates and commodity prices. Financial Market Risks Our exposure to financial market risks includes changes to interest rates and credit risks related to marketable securities, interest rates related to our outstanding indebtedness and trade receivables. The primary objective of our investment activities is to preserve principal, while at the same time maximizing yields and prudently managing risk. To achieve this objective and limit interest rate exposure, we limit our investments to securities with a maturity of less than five years and an investment grade rating from Moody’s or Standard and Poor’s. See Note 3 (Marketable Securities) of the Notes to Consolidated Financial Statements. Our current RCL has a $95,942,000 outstanding balance. The interest rate on this line of credit can float at a rate equal to one-month term SOFR plus 2.25%, before patronage, for an effective rate of 5.95% at June 30, 2026. During the term of this RCL (which matures in January 2029), we can borrow at any time and partially or wholly repay any outstanding borrowings and then re-borrow, as necessary outstanding balances. Market risk related to our farming inventories ultimately depends on the value of almonds, grapes, and pistachios at the time of payment or sale. Credit risk related to our receivables depends upon the financial condition of our customers. Based on historical experience with our current customers, and periodic credit evaluations of our customers’ financial conditions, we believe our credit risk is minimal. Market risk related to our farming inventories is discussed below in the section pertaining to commodity price exposure. The following tables provide information about our financial instruments that are sensitive to changes in interest rates. The tables present our debt obligations and marketable securities and their related weighted-average interest rates by expected maturity dates. Interest Rate Sensitivity Financial Market Risks Principal Amount by Expected Maturity At June 30, 2026 (In thousands except percentage data) 2026 2027 2028 2029 2030 Thereafter Total Fair Value Assets: Marketable securities $5,495 $5,727 $— $— $— $— $11,222 $11,187 Weighted average interest rate 3.70% 3.54% —% —% —% —% Liabilities: Revolving line-of-credit $— $— $— $95,942 $— $— $95,942 $95,942 Weighted average interest rate1 S+2.25% S+2.25% S+2.25% S+2.25% S+2.25% S+2.25% S+2.25% 1The effective interest rate on this line of credit is SOFR plus a margin of 2.25%. The all-in rate was 5.95% as of June 30, 2026, before patronage. 52 Interest Rate Sensitivity Financial Market Risks Principal Amount by Expected Maturity At December 31, 2025 (In thousands except percentage data) 2026 2027 2028 2029 2030 Thereafter Total Fair Value Assets: Marketable securities $14,598 $758 $— $— $— $— $15,356 $15,370 Weighted average interest rate 3.89% 4.52% —% —% —% —% 3.92 % Liabilities: Revolving line-of-credit $— $— $— $93,942 $— $— $93,942 $93,942 Weighted average interest rate1 S+2.25% S+2.25% S+2.25% S+2.25% S+2.25% S+2.25% S+2.25% 1The effective interest rate on this line of credit is SOFR plus a margin of 2.25%, and the rate was 6.15% as of December 31, 2025, before patronage. Commodity Price Exposure Farming inventories and accounts receivable are exposed to adverse price fluctuations. Farming inventories consist of farming, cultural, and processing costs associated with crop production. Farming inventory costs are recorded as incurred. Historically, these costs have been recovered through crop sales occurring after harvest. As of June 30, 2026, there were no receivables that were subject to commodity price fluctuations given there was no pistachio yield in 2025. 53