Andersons, Inc. — Director's Dealing 2026

Feb 13, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Andersons, Inc. (ANDE)
CIK: 0000821026
Period of Report: 2026-02-11

Reporting Person: Bowe Patrick E. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-11	Common Stock	M	39360	—	Acquired	172099.7724	Direct
2026-02-11	Common Stock	M	14563	—	Acquired	186662.7724	Direct
2026-02-11	Common Stock	A	1832.57	—	Acquired	188495.3424	Direct
2026-02-11	Common Stock	F	22558	$69.11	Disposed	165937.3424	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-02-11	PERFORMANCE SHARE UNIT (EPS) (2026)	$	M	39360	Disposed		Common Stock (39360)	Direct
2026-02-11	PERFORMANCE SHARE UNIT (TSR) (2026)	$	M	14563	Disposed		Common Stock (14563)	Direct
2026-02-11	PERFORMANCE SHARE UNIT (TSR) (2026)	$	D	24797	Disposed		Common Stock (24797)	Direct

Footnotes

F1: Dividend equivalent received.

F2: Shares withheld to cover tax liability.

F3: Performance share units (PSUs) represent the right to receive common stock following a 3 year performance period. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the
performance period.

F4: Each PSU vests and converts to common stock as of February 11, 2026.

F5: Performance share units (PSUs) represent the right to receive common stock following a 3 year performance period. Number of underlying shares are based upon the level of satisfaction of the total shareholder return for
the performance period.

F6: PSU Vesting for fewer than allocated shares. Excess shares are being cancelled.