UNIVERSAL CORP /VA/ Business Summary

Universal Corporation (NYSE: UVV) operates as a leading global business-to-business agriproducts supplier, primarily generating revenue through the procurement, processing, and distribution of leaf tobacco and specialty plant-based ingredients. The company’s Tobacco Operations segment, which accounts for the vast majority of consolidated revenue, sources flue-cured, burley, and oriental tobaccos for major consumer product manufacturers including Philip Morris International and Altria Group. Its Ingredients Operations segment, established through strategic acquisitions like FruitSmart and Shank's Extracts, provides dehydrated fruits, vegetables, and botanical extracts to the food, beverage, and pet food industries. Universal maintains a dominant market position as the world’s largest independent leaf tobacco merchant, competing directly with Pyxus International in the highly consolidated tobacco supply chain and with diversified agri-commodity giants like Archer-Daniels-Midland (ADM) and Kerry Group in the specialty ingredients space. Founded in 1918 by Jacquelin P. Taylor following the 1911 antitrust breakup of the American Tobacco Company, Universal is currently led by Chairman, President, and CEO Preston D. Wigner, who assumed the role in October 2024 after a two-decade tenure as General Counsel. The executive team includes Senior VP and COO Airton L. Hentschke, an industry veteran with deep expertise in global leaf procurement, and Senior VP and CFO Johan C. Kroner, who is slated to retire in July 2026. Steven S. Diel, formerly the CFO of Universal Ingredients and a key architect of the company’s diversification strategy, has been appointed to succeed Kroner as CFO effective April 1, 2026. The company’s governance is supported by a seasoned board featuring Lead Independent Director Thomas H. Johnson and notable members such as Diana F. Cantor and Robert C. Sledd, while institutional backing is led by major shareholders including BlackRock and Vanguard.