PHIBRO ANIMAL HEALTH Business Summary

Phibro Animal Health Corporation (PAHC) operates a diversified global business model centered on the development, manufacture, and marketing of products for food-producing and companion animals. The company generates revenue primarily through transactional product sales across three core segments: Animal Health, Mineral Nutrition, and Performance Products. The Animal Health segment, which accounts for the vast majority of top-line growth, was significantly bolstered by the October 2024 acquisition of Zoetis’ medicated feed additive (MFA) portfolio, positioning Phibro as a dominant global leader in the MFA and water-soluble product categories. The company also maintains a robust presence in nutritional specialties and vaccines. Within the competitive landscape, Phibro ranks as the world’s 7th largest animal health company, competing directly with industry titans such as Zoetis, Merck Animal Health, Elanco, and Boehringer Ingelheim. While smaller in total market cap than these peers, Phibro differentiates itself through a highly specialized focus on livestock productivity and a rapidly expanding footprint in the companion animal health sector. Phibro is led by a deeply experienced executive team with strong family and institutional pedigree. Jack C. Bendheim currently serves as Chairman, President, and Chief Executive Officer, having guided the company’s global expansion since 1988; notably, he is slated to transition to Executive Chairman on July 1, 2026. Daniel (Dani) Bendheim, the current Chief Transformation Officer and Executive Vice President of Corporate Strategy, has been named as his successor for the CEO and President roles. The leadership team is further supported by Glenn C. David as Chief Financial Officer and Larry L. Miller as Chief Operating Officer. The company traces its origins back to the 1946 founding of Phillip Brothers Chemicals, Inc., and remains largely controlled by the Bendheim family, ensuring long-term strategic continuity. The Board of Directors includes seasoned industry veterans and is supported by institutional investors who have backed the company’s aggressive 'Phibro Forward' efficiency and growth initiative.