Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36410 Phibro Animal Health Corporation (Exact name of registrant as specified in its charter) Delaware 13-1840497 (Sta ...

Financial Performance & Guidance - The company's FY2023 financial guidance projects net sales between $960 million and $1 billion, representing a 2-6% year-over-year growth[98] - Adjusted EBITDA for FY2023 is guided between $113 million and $118 million, also reflecting a 2-6% year-over-year increase[98] - Before strategic investments, adjusted EBITDA guidance is $150-155 million, representing a 7-11% year-on-year growth[112] Business Segment Performance - In fiscal year 2022, Animal Health segment sales were $607 million and adjusted EBITDA was $124 million[63] - Mineral Nutrition segment sales reached $221 million in 2021[94] - Performance Products segment sales were $76 million with an adjusted EBITDA of $9 million in 2022[89] Growth Strategies & Investments - Nutritional specialties net sales increased from $52 million to $157 million since the IPO[51] - Vaccine net sales increased from $29 million to $88 million[119] - The company plans to invest $37 million in R&D and other projects, including companion animal, nutritional specialty, and vaccine development[111] Companion Animal Focus - The company estimates the addressable market for atopic dermatitis in dogs worldwide at $1 billion[72] - The estimated addressable market for oral care in cats and dogs worldwide is $2 billion[72] - The estimated addressable market for pain management in dogs worldwide is over $1 billion[79]

Financial Data and Key Metrics Changes - Consolidated net sales for Q3 2023 were $246 million, reflecting a 3% increase compared to the same quarter last year [55] - Adjusted net income and adjusted diluted earnings per share decreased by 13%, driven by higher SG&A expenses and taxes, offset by higher gross profit [28] - Consolidated adjusted EBITDA decreased by $0.6 million or 2% compared to the prior year's quarter, influenced by lower adjusted EBITDA in the Mineral Nutrition and Performance Products segments [7] Business Line Data and Key Metrics Changes - The Animal Health segment achieved a 10% year-to-date increase in net sales compared to the same period last year, with Q3 net sales of $164.4 million, an 11% increase year-over-year [4][8] - Within the Animal Health segment, MFAs and other products increased by $8.9 million or 11%, nutritional specialties grew by 9%, and vaccines saw a $3.3 million or 15% increase [5][29] - The Mineral Nutrition segment reported net sales of $62.9 million, a decline of 9% year-over-year, driven by decreased demand for trace minerals [9] - Performance Products segment net sales were $18.3 million, reflecting a $3.7 million decline primarily due to decreased demand for copper-based products [30] Market Data and Key Metrics Changes - The company is experiencing recessionary pressures in the Mineral Nutrition segment as customers reduce purchases and lower inventory [4] - The company noted strong demand for its products in Latin America, particularly in the vaccine category, following the opening of a new facility in Brazil [5] Company Strategy and Development Direction - The company continues to focus on raising prices when market conditions allow and remains optimistic about growth opportunities in the Animal Health segment [6] - The Companion Animal segment is viewed as a medium-term growth driver, with ongoing development in the pipeline [26] - The company is taking steps to better balance inventory to meet customer needs, particularly in the Mineral Nutrition segment [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the full-year guidance despite challenging market conditions, projecting net sales of $960 million to $1 billion for the fiscal year [34] - The company anticipates improvements in free cash flow as it focuses on cost control and managing working capital [11] - Management views the business as recession-resistant, noting that demand for protein remains stable even during economic downturns [46] Other Important Information - The company had $192 million of liquidity available at the quarter end, including cash and short-term investments of $77 million [12] - The gross leverage ratio at quarter end was 4.3x, calculated by dividing total debt of $482 million by trailing 12-month adjusted EBITDA of $112 million [33] - The company plans to publish its second ESG report, reflecting progress made in 2022 [35] Q&A Session Summary Question: Update on feedlot dynamics in Mineral Nutrition - Management noted that demand is influenced by inventory adjustments following previous supply chain concerns, with a focus on managing working capital [36][37] Question: Impact of China's lifting of the embargo on Brazilian beef imports - Management acknowledged this change as a potential tailwind for the Latin America Animal Health business, which has been performing well [38] Question: Capacity of the Brazilian vaccine facility - The facility is involved in custom vaccine production, which is a farm-by-farm business, and recent approvals for poultry vaccines are expected to enhance growth [39] Question: U.S. broiler volumes and Brazilian cattle dynamics - U.S. broiler volumes are reported to be flat and holding steady, while Brazilian cattle business remains flat to slightly up [40][42]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36410 Phibro Animal Health Corporation (Exact name of registrant as specified in its charter) Delaware 13-184 ...

Phibro Animal Health Corporation (NASDAQ:PAHC) Q2 2023 Earnings Conference Call February 9, 2023 9:00 AM ET Company Participants Damian Finio - Chief Financial Officer Jack Bendheim - Chairman, President and CEO Daniel Bendheim - Director and Executive Vice President, Corporate Strategy Conference Call Participants Brian Wright - ROTH MKM Operator Good morning. My name is Jeannie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Phibro Animal Health Corpora ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36410 Phibro Animal Health Corporation (Exact name of registrant as specified in its charter) Delaware 13- ...

Financial Performance and Key Metrics Changes - Consolidated net sales for Q1 2023 were $232.5 million, an increase of $17.9 million or 8% year-over-year, driven by growth in both Animal Health and Mineral Nutrition segments [18] - GAAP net income and diluted EPS decreased by 41% due to higher SG&A expenses, interest expenses, and foreign exchange losses, despite favorable gross profit and lower income tax expenses [19] - Adjusted net income and adjusted diluted EPS declined by 18%, driven by higher SG&A expenses and taxes, offset by higher gross profit [20] Business Segment Performance - The Animal Health segment reported net sales of $154.9 million, a 10% increase year-over-year, with notable growth in MFAs and other products, nutritional specialties, and vaccines [21][22] - Mineral Nutrition segment net sales were $59.6 million, reflecting a 10% increase, driven by higher average selling prices of trace minerals [24] - Performance Products segment net sales were $18 million, a 6% decline compared to the previous year, attributed to lower demand for copper-based products [26] Market Data and Key Metrics Changes - The company experienced macroeconomic challenges, including supply chain disruptions and sustained inflation, impacting margins and inventory carrying values [10][11] - Free cash flow for the 12-month period ending September 30, 2022, was negative $21 million, with significant capital expenditures of $38 million [28] Company Strategy and Development Direction - The company is optimistic about growth opportunities from strategic investments in vaccines and nutritional specialties, with new registrations expected to open new markets [12][13] - The company plans to continue raising prices to mitigate input cost pressures while managing discretionary spending [11] Management's Comments on Operating Environment and Future Outlook - Management remains bullish on the business despite short-term uncertainties, anticipating continued demand for products globally [16][43] - The company reiterated its full-year 2023 net sales guidance of $960 million to $1 billion and adjusted EBITDA guidance of $113 million to $118 million, while revising net income and EPS guidance downward due to increased interest expenses and tax regulation changes [15][40] Other Important Information - The company executed a credit agreement amendment to increase its unused revolving credit facility by $60 million, reflecting a prudent action amid current market uncertainties [35] - The adjusted effective tax rate for fiscal year 2023 has been raised from 30% to 33% due to changes in U.S. tax regulations affecting Brazilian income tax [41] Q&A Session Summary Question: What is embedded in your fiscal 2023 guidance regarding pricing? - The company continues to take pricing actions where competitive conditions allow, reflecting higher input costs and tighter margins [46][47] Question: Can you provide an update on fundamentals across key livestock categories? - Overall demand in the animal protein business remains strong, with specific challenges noted in the U.S. cattle business, while Brazilian cattle operations are performing well [48][49] Question: How did sales of Rejensa trend in the context of your target of doubling sales year-over-year? - Sales were high double digits but slightly short of the target, with some slowdown noted relative to previous growth rates [52][53] Question: Can you elaborate on the Brazilian income tax law change? - The adjusted effective tax rate increased due to changes in U.S. federal tax legislation affecting Brazilian earnings, leading to a higher GILTI tax liability [55]

Phibro Animal Health Corporation Financial Results Fiscal Year 2023 First Quarter Ended September 30, 2022 Webcast and Conference Call November 10, 2022 U.S. toll-free +1.888.330.2022 International toll +1.365.977.0051 Conference ID: [3927884] 1 November 10, 2022 Webcast & Conference Call Important Information Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements that are subject to risks and uncertainties, including with respect to future debt and ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36410 Phibro Animal Health Corporation (Exact name of registrant as specified in its charter) Delaware 13 ...

Phibro Animal Health Corporation (NASDAQ:PAHC) Q4 2022 Earnings Conference Call August 25, 2022 9:00 AM ET Company Participants Damian Finio - CFO Jack C. Bendheim - Chairman, President, and CEO Daniel M. Bendheim - Director and EVP, Corporate Strategy Conference Call Participants John Kim - Bank of America Justin Wang - Morgan Stanley Operator Good morning. My name is Chris and I'll be your conference operator today. At this time, I would like to welcome everyone to the Phibro Animal Health Corporation Q4 ...