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 ...

Financial Performance - Consolidated net sales for Q2 FY2023 were $244.6 million, reflecting a 5% increase year-over-year driven by improvements in both Animal Health and Performance Products segments [7][45] - Adjusted EBITDA increased by $1.8 million or 6% compared to the prior year's quarter, driven by higher adjusted EBITDA in both Animal Health and Performance Products segments [9][50] - Adjusted net income and adjusted diluted EPS decreased by 9% respectively, due to higher SG&A expenses and taxes, offset by higher gross profit [9][14] Business Segment Performance - Animal Health segment reported net sales of $163.8 million, a 9% increase year-over-year, driven by increased demand for MFAs and nutritional specialties [10][50][73] - Performance Products segment net sales were $19.2 million, reflecting a 27% improvement driven primarily by increased demand for copper-based products [11][21] - Mineral Nutrition segment net sales declined by 8% to $61.6 million, driven by decreased demand for trace minerals and economic challenges [51][68] Market Performance - Latin America and Canada experienced a 12% growth, while the U.S. market saw a 7% growth; however, markets in Europe, the Middle East, Africa, and Asia Pacific declined due to COVID-19 and economic challenges [5][6] - The company is optimistic about continued growth in Latin America, attributing it to prior investments and market expansion [34][35] Company Strategy and Industry Competition - The company remains focused on maintaining supply continuity by increasing inventory levels to mitigate supply chain disruptions [22][41] - The management emphasizes the importance of product development, particularly in non-antibiotic specialties and vaccines, to maintain competitive positioning in the market [25][41] Management Commentary on Operating Environment and Future Outlook - Management expressed optimism about the global economy's improvement but acknowledged ongoing challenges, particularly regarding input costs and supply chain issues [6][22] - The company projects a stronger second half of FY2023, consistent with prior fiscal performance [6][14] Other Important Information - The company has $202 million in liquidity available, including cash and short-term investments of $78 million [13] - A tentative settlement related to environmental litigation was reached, which may impact future financial performance [8][49] Q&A Session Summary Question: Can you quantify the higher SG&A costs? - Management indicated that higher employee costs were due to filling vacancies and increased labor costs [17] Question: What factors are contributing to the success of the Animal Health business? - Management attributed success to effective management and product development, particularly in non-antibiotic solutions [23][25] Question: What is the outlook for the poultry market given the ongoing bird flu situation? - Management noted that while the company is not heavily exposed, the situation remains concerning and could impact prices in the poultry market [64]

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 ...

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, 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 13-1840497 (Sta ...

Financial Performance - Q3 2022 - Net sales increased by $27.9 million, a 13% increase year-over-year, driven by improvements across all business segments and regions[11] - Net income increased by $5.5 million, a 45% increase year-over-year, driven by stronger volumes and selling prices[11] - Adjusted EBITDA remained comparable to the prior year's quarter at $28.0 million[11] - Adjusted net income decreased by 4% year-over-year to $13.4 million, and adjusted diluted EPS decreased by 3% year-over-year to $0.33[11] Segment Performance - Q3 2022 - Animal Health net sales increased by $14.2 million, or 11% year-over-year, to $148.6 million[15] - Mineral Nutrition net sales increased by $10.9 million, or 19% year-over-year, to $69.0 million[18] - Performance Products net sales increased by $2.8 million, or 15% year-over-year, to $22.0 million[18] Fiscal Year 2022 Guidance - The company raised full-year net sales guidance to $930-$950 million, projecting a 12-14% increase over the prior full year[9] - Adjusted EBITDA guidance was maintained at $110-$114 million[9]

Financial Performance and Key Metrics - Consolidated net sales for Q3 2022 were $239.6 million, reflecting a 13% increase year-over-year, driven by improvements across all business segments [21] - GAAP-based net income and diluted earnings per share increased by 45% and 47% respectively compared to the same quarter last year [21] - Adjusted net income and adjusted diluted earnings per share declined by 4% and 3% respectively due to increased employee-related and technology-related costs [24] Business Segment Performance - The Animal Health segment posted net sales of $148.6 million, an 11% increase year-over-year, with notable growth in MFAs, nutritional specialties, and vaccines [25] - Mineral Nutrition segment net sales were $69 million, a 19% increase year-over-year, driven by higher average selling prices of trace minerals [28] - Performance Products segment net sales were $22 million, reflecting a 15% improvement over the same quarter last year [30] Market Data and Key Metrics - Sales in Europe, Middle East, and Africa represented 13% of consolidated net sales, while Asia Pacific accounted for 7% [14] - The company has limited indirect sales to Russia, which has resulted in some lost sales in Q3 and going forward [37] Company Strategy and Industry Competition - The company plans to continue taking price increases to combat historic levels of inflation and improve profitability [15][17] - An acquisition in Brazil aims to replicate success in the U.S. ethanol industry, providing products and services for ethanol production and its co-products [9] Management's Comments on Operating Environment and Future Outlook - Management highlighted macroeconomic headwinds, including the Russian conflict and lingering COVID-19 impacts, which could adversely affect business [11] - Revised full-year sales guidance is set at $930 million to $950 million, reflecting a projected year-over-year increase of 12% to 14% [18][39] Other Important Information - The company plans to publish its inaugural Economic, Social, and Governance (ESG) report shortly [41] - Free cash flow for the 12-month period ending March 31, 2022, was $1 million, with total debt of $417 million resulting in a gross leverage ratio of 3.9 times [32] Q&A Session Summary Question: Sales growth of Rejensa and outlook for the year - Sales for Rejensa are expected to double in fiscal year '22 compared to fiscal year '21, with continued strong performance anticipated [44] Question: Effects on U.S. beef and dairy franchises - The drought in the U.S. is not directly affecting the company, but there may be indirect effects on sales to the beef industry in other markets [45]