Andersons, Inc. — Director's Dealing 2023

May 8, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Andersons, Inc. (ANDE)
CIK: 0000821026
Period of Report: 2023-04-24

Reporting Person: Stout John T Jr (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-04-24	Common Stock	J	2.216	$43.95	Acquired	37987.6753	Direct
2023-05-05	RESTRICTED SHARE UNIT (2023)	J	48.402	—	Acquired	2486.402	Direct
2023-05-05	RESTRICTED SHARE UNIT (2023)	J	2486.402	—	Disposed	0	Direct
2023-04-24	Common Stock	J	2486.402	$36.77	Acquired	40474.0773	Direct
2023-05-05	RESTRICTED SHARE UNIT (2024)	A	3074	—	Acquired	3074	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4219	Indirect

Footnotes

F1: Reinvestment of dividend.

F2: Dividend equivalent received.

F3: RSU vested.

F4: Shares received from vesting of RSU (Restricted Share Unit).

F5: Restricted share units vest one year after grant date.