Sale Expected to Advance Limoneira’s Strategy to Monetize Non-Strategic Assets and Redeploy Capital Toward Higher-Return Operations

Limoneira Company (the "Company" or "Limoneira") (NASDAQ:LMNR), a diversified lemon and avocado growing and lemon packing company with related agribusiness activities and real estate development operations, today announced its wholly owned subsidiary, Windfall Investors, LLC, entered into a Purchase and Sale Agreement to sell Windfall Farms, its approximately 724-acre vineyard property in Paso Robles, California, following a competitive public auction conducted by Concierge Auctions, LLC in cooperation with Sotheby’s International Realty. Bidding opened on August 5, 2026 and concluded on August 15, 2026. The property will be sold to a private buyer for $15 million all cash. The transaction is expected to close on September 14, 2026, subject to customary closing conditions.

The proposed sale of Windfall Farms is the latest step in Limoneira’s ongoing strategy to monetize non-strategic assets, strengthen its balance sheet, reduce debt, and redeploy capital into higher-return opportunities across its core agribusiness and real estate platforms. Limoneira pursued a public auction process for the property to help establish the property’s market-based value through open, competitive bidding. Net proceeds from the sale are expected to be used to reduce outstanding debt and fund avocado acreage expansion, as well as other capital allocation initiatives, consistent with the Company’s capital allocation priorities.