Exhibit 99.1
THE FOLLOWING UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION IS PRESENTED FOR ILLUSTRATIVE PURPOSES ONLY AND IS NOT NECESSARILY AN INDICATION OF THE FUTURE FINANCIAL POSITION OR RESULTS OF OPERATIONS OF THE COMPANY.

Management has prepared the following unaudited pro forma condensed consolidated financial statements, which are based on historical consolidated financial statements of the Company and adjusted to give effect to the abandonment of the majority of its fruit producing trees, which occurred on April 21, 2025, as described in this Current Report on Form 8-K.

Under generally accepted accounting principles (GAAP), a long-lived asset to be abandoned is considered disposed of when it ceases to be used. Consequently, the Unaudited Pro Forma Condensed Consolidated Balance Sheet at December 31, 2024 has been prepared to reflect the April 2025 abandonment of those trees as a disposition, as if that transaction had occurred on December 31, 2024. The Unaudited Pro Forma Condensed Consolidated Statements of Operations for the year ended September 30, 2024 and the three month period ended December 31, 2024 have been prepared to present the results of operations of the Company as if the abandonment of the trees had occurred at October 1, 2023, the beginning of the first period presented.

The following unaudited pro forma condensed consolidated financial statements should be read in conjunction with the Company's consolidated financial statements and notes thereto that are incorporated by reference in the Company's Annual Report on Form 10-K for the year ended September 30, 2024 and the Company's Quarterly Report on Form 10-Q for the three months ended December 31, 2024. In the Company's opinion, all significant adjustments necessary to reflect the disposition have been made.





ALICO, INC.
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
DECEMBER 31, 2024
(in thousands, except share amounts)
Historical (A)Transaction Accounting AdjustmentsTotal Pro Forma
ASSETS
Current assets:
Cash and cash equivalents$4,388 $4,388 
Accounts receivable, net8,602 (4,603)B3,999 
Inventories20,814 (16,262)C4,552 
Income tax receivable1,958 1,958 
Assets held for sale3,345 3,345 
Prepaid expenses and other current assets1,711 1,711 
Total current assets40,818 (20,865)19,953 
Restricted cash762 762 
Property and equipment, net350,907 (211,926)D138,981 
Goodwill2,246 2,246 
Deferred tax assets— 13,285 E13,285 
Other non-current assets2,863 (591)F2,272 
Total assets$397,596 $(220,097)$177,499 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$3,236 $(2,147)G$1,089 
Accrued liabilities3,293 (207)H3,086 
Current portion of long-term debt1,410 1,410 
Other current liabilities498 498 
Total current liabilities8,437 (2,354)6,083 
Long-term debt, net81,984 81,984 
Lines of credit21,494 (19,967)H1,527 
Deferred income tax liabilities, net38,694 (38,694)E— 
Other liabilities146 146 
Total liabilities150,755 (61,015)89,740 
Commitments and Contingencies - Note 12.
Stockholders’ equity:
Preferred stock, no par value, 1,000,000 shares authorized; none issued
— — 
Common stock, $1.00 par value, 15,000,000 shares authorized; 8,416,145 shares issued and 7,633,069 and 7,628,639 shares outstanding at December 31, 2024 and September 30, 2024, respectively
8,416 8,416 
Additional paid in capital20,226 20,226 
Treasury stock, at cost, 783,076 and 787,506 shares held at December 31, 2024 and September 30, 2024, respectively
(26,557)(26,557)
Retained earnings239,704 (159,082)80,622 
Total Alico stockholders’ equity241,789 (159,082)82,707 
Noncontrolling interest5,052 5,052 
Total stockholders’ equity246,841 (159,082)87,759 
Total liabilities and stockholders’ equity$397,596 $(220,097)$177,499 








ALICO, INC.
NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
DECEMBER 31, 2024

(A)    Historical unaudited condensed consolidated balance sheet data derived from Alico, Inc.'s Quarterly Report on Form 10-Q as of December 31, 2024.
(B)    Represents adjustments to reduce Accounts receivable for amounts due from fruit sales generated by the trees, which were abandoned.
(C)    Represents adjustments to reduce Inventories for amounts spent on certain caretaking costs of the trees, which were abandoned.
(D)    Represents adjustments to reduce Property and equipment for the write-off of the trees and certain other equipment related to the caretaking of the abandoned groves.
(E)    Principally represents adjustments to adjust deferred taxes for the write-off of the trees by reversing the book/tax difference on the trees, which were abandoned.
(F)    Represents adjustments to reduce Other non-current assets for certain prepaids which will not be recovered.
(G)    Represents adjustments to reduce Accounts payable for a portion of the amounts due to vendors for caretaking and other costs related to the trees, which were abandoned.
(H)    Represents adjustments to reduce accrued interest and borrowings under the Lines of credit for spending on caretaking of the trees, which were abandoned.


ALICO, INC.
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED DECEMBER 31, 2024
(in thousands, except per share amounts)
Historical (A)
Transaction Accounting AdjustmentsTotal Pro Forma
2024
Operating revenues:
Alico Citrus$16,326 $(11,344)B$4,982 
Land Management and Other Operations568 568 
Total operating revenues16,894 (11,344)5,550 
Operating expenses:
Alico Citrus25,111 (17,167)C7,944 
Land Management and Other Operations21 21 
Total operating expenses25,132 (17,167)7,965 
Gross loss(8,238)5,823 (2,415)
General and administrative expenses2,586 (24)D2,562 
Loss from operations(10,824)5,847 (4,977)
Other (expense) income, net:
Interest income47 47 
Interest expense(898)271 E(627)
Other income, net244 244 
Total other (expense) income, net(607)271 (336)
(Loss) income before income taxes(11,431)6,118 (5,313)
Income tax (benefit) provision(2,180)1,621 F(559)
Net (loss) income(9,251)4,497 (4,754)
Net loss attributable to noncontrolling interests84 84 
Net (loss) income attributable to Alico, Inc. common stockholders$(9,167)$4,497 $(4,670)
Per share information attributable to Alico, Inc. common stockholders:
Earnings per common share:
Basic$(1.20)$0.59 $(0.61)
Diluted$(1.20)$0.59 $(0.61)
Weighted-average number of common shares outstanding:
Basic7,6337,633
Diluted7,6337,633













ALICO, INC.
NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED DECEMBER 31, 2024

(A)    Historical unaudited condensed consolidated statement of operations data derived from Alico, Inc.'s Quarterly Report on Form 10-Q as of December 31, 2024.
(B)    Represents adjustments to eliminate the revenue generated from the sales of fruit produced on the trees in the groves that were abandoned.
(C)    Represents adjustments to eliminate certain caretaking costs incurred to grow the fruit produced on the trees that were abandoned.
(D)    Represents adjustments to eliminate certain administrative overhead costs associated with employees who performed caretaking of the trees that were abandoned.
(E)    Represents adjustments to reduce the interest expense on the Company's Revolving Line of Credit for borrowings incurred to cover certain caretaking costs associated with the abandoned trees.
(F)    Represents adjustments to reflect the effect applying the statutory tax rate of 26.5% to the pre-tax adjustments to the consolidated statement of operations.


ALICO, INC.
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED SEPTEMBER 30, 2024
(in thousands, except per share amounts)
Historical (A)
Transaction Accounting AdjustmentsTotal Pro Forma
2024
Operating revenues:
Alico Citrus$45,059 $(33,501)B$11,558 
Land Management and Other Operations1,584 1,584 
Total operating revenues46,643 (33,501)13,142 
Operating expenses:— 
Alico Citrus102,628 (83,961)C18,667 
Land Management and Other Operations398 398 
Total operating expenses103,026 (83,961)19,065 
Gross (loss) profit(56,383)50,460 (5,923)
General and administrative expenses11,071 (40)D11,031 
Loss from operations(67,454)50,500 (16,954)
Other income (expense), net:— 
Interest income385 385 
Interest expense(3,538)535 E(3,003)
Gain on sale of property & equipment81,559 81,559 
Total other income, net78,406 535 78,941 
Income before income taxes10,952 51,035 61,987 
Income tax provision4,597 13,524 F18,121 
Net income6,355 37,511 43,866 
Net loss attributable to noncontrolling interests618 618 
Net income attributable to Alico, Inc. common stockholders$6,973 $37,511 $44,484 
Per share information attributable to Alico, Inc. common stockholders:
Earnings per common share:
Basic$0.91 $4.93 $5.84 
Diluted$0.91 $4.93 $5.84 
Weighted-average number of common shares outstanding:
Basic7,6227,622
Diluted7,6227,622












ALICO, INC.
NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE YEAR ENDED SEPTEMBER 30, 2024


(A)    Historical condensed consolidated statement of operations data derived from Alico, Inc.'s Annual Report on Form 10-K as of September 30, 2024.
(B)    Represents adjustments to eliminate the revenue generated from the sales of fruit produced on the trees in the groves that were abandoned.
(C)    Represents adjustments to eliminate certain caretaking costs incurred to grow the fruit produced on the trees that were abandoned.
(D)    Represents adjustments to eliminate certain administrative overhead costs associated with employees who performed caretaking of the trees that were abandoned.
(E)    Represents adjustments to reduce the interest expense on the Company's Revolving Line of Credit for borrowings incurred to cover certain caretaking costs associated with the abandoned trees.
(f)    Represents adjustments to reflect the effect applying the statutory tax rate of 26.5% to the pre-tax adjustments to the consolidated statement of operations.