DUBLIN – February 25, 2026 - Dole plc (NYSE: DOLE) ("Dole" or the "Group" or the "Company") today released its financial results for the three months and year ended December 31, 2025.

•Positive fourth quarter operational performance for the Group

•Revenue of $2.4 billion, an increase of 9.2%

•Net Income of $6.0 million

•Adjusted EBITDA1 of $72.7 million, ahead of market expectations

•Adjusted Net Income1 of $13.8 million

•Announced Agreement to sell port assets in Ecuador for expected net proceeds of approximately $75 million

•Robust full year performance driven by strong growth across the two Diversified segments, offsetting an anticipated decline in Fresh Fruit

•Revenue of $9.2 billion, an increase of 8.2%

•Net Income of $82.0 million, and Diluted EPS of $0.53

•Adjusted EBITDA1 of $395.4 million, ahead of our latest guidance and market expectations

•Adjusted Net Income1 of $115.0 million and Adjusted Diluted EPS of $1.20

•Net Debt1 of $606.5 million, a reduction of $30.7 million, and Net Leverage1 of 1.5x

•Board authorization granted for share repurchases up to $100 million in the aggregate

Commenting on the results, Carl McCann, Executive Chairman, said:

Revenue increased 9.2%, or $198.7 million, primarily due to positive operational performance across all segments, as well as a favorable impact from foreign currency translation of $77.1 million, offset partially by a net negative impact from acquisitions and divestitures of $3.0 million. On a like-for-like basis3, revenue increased 5.7%, or $124.6 million.

Net income increased to $6.0 million from a loss of $31.6 million in the prior year. The prior year was impacted by a loss of $61.2 million in discontinued operations (Fresh Vegetables division). On a continuing operations basis, net income decreased from $29.6 million to $6.8 million primarily due to the impact of a non-cash discrete tax charge recorded in the current year, offset partially by higher equity method earnings.

Adjusted EBITDA decreased 2.6%, or $1.9 million, primarily driven by higher fruit costs in the Fresh Fruit segment. These decreases were partially offset by good performance in our Diversified Fresh Produce - Americas & ROW segment, as well as a favorable impact of foreign currency translation of $3.2 million. On a like-for-like basis, Adjusted EBITDA decreased 6.1%, or $4.5 million.

Adjusted Net Income decreased 9.8%, or $1.5 million, predominantly due to the decreases in Adjusted EBITDA noted above and higher depreciation expense, partially offset by lower interest expense. Adjusted Diluted EPS for the three months ended December 31, 2025 was $0.14 compared to $0.16 in the prior year.

Revenue increased 8.2%, or $697.6 million, primarily due to strong operational performances across all segments and a favorable impact from foreign currency translation of $169.4 million. These positive impacts were partially offset by a net negative impact from acquisitions and divestitures of $111.0 million. On a like-for-like basis, revenue increased 7.5%, or $639.2 million.

Net income decreased to $82.0 million from $143.4 million in the prior year. The prior year benefitted from a gain on the disposal of the Progressive Produce business. The current year was impacted by a higher loss in discontinued operations, non-cash fair value losses on financial instruments, a non-cash discrete tax charge and impairment charges on assets, primarily those excluded from the disposal of the Fresh Vegetables division. These decreases were partially offset by insurance proceeds recognized in the period, higher equity method earnings, lower interest expense and higher gains on asset sales.

Adjusted EBITDA increased 0.8%, or $3.2 million, primarily due to good performance in the Diversified Fresh Produce - Americas & ROW and Diversified Fresh Produce - EMEA segments as well as a favorable impact of foreign currency translation of $7.2 million, partially offset by a decrease in the Fresh Fruit segment driven by higher fruit costs, and a net negative impact from acquisitions and divestitures of $2.1 million. On a like-for-like basis, Adjusted EBITDA decreased 0.5%, or $1.9 million.

Adjusted Net Income decreased 4.8%, or $5.9 million, predominantly due to higher depreciation expense, offset partially by the increases in Adjusted EBITDA noted above and lower interest expense. Adjusted Diluted EPS for the year ended December 31, 2025 was $1.20 compared to $1.27 in the prior year.

Revenue increased 6.7%, or $55.0 million, primarily due to higher worldwide volumes of bananas sold, as well as higher worldwide pricing of bananas, pineapples and plantains, partially offset by lower worldwide volumes of pineapples and plantains sold.

Adjusted EBITDA decreased 16.6%, or $5.3 million, primarily driven by higher fruit costs in bananas, due both to higher overall sourcing costs in the market and higher fruit costs following Tropical Storm Sara. In the quarter, we also experienced higher fruit sourcing costs and lower volumes in pineapples and higher sourcing costs in plantains. These decreases were partially offset by higher profits in commercial cargo.

Revenue increased 12.7%, or $115.3 million, primarily driven by a favorable impact of foreign currency translation of $77.0 million, as a result of the strengthening of the Swedish krona, euro and British pound sterling against the U.S. Dollar, as well as strong underlying performance in Spain, France and South Africa. These increases were partially offset by a net negative impact from acquisitions and divestitures of $3.0 million. On a like-for-like basis, revenue increased 4.5%, or $41.3 million.

Adjusted EBITDA increased 0.3%, or $0.1 million, primarily due to increased earnings in Scandinavia, Ireland and Spain, as well as a favorable impact from foreign currency translation of $3.7 million. These increases were partially offset by decreased underlying earnings in the U.K. and the Netherlands. On a like-for-like basis, Adjusted EBITDA decreased 10.8%, or $3.5 million.

Revenue increased 5.0%, or $23.2 million, primarily due to revenue growth in most commodities sold in the North American market as well as revenue growth in the southern hemisphere export products, primarily driven by higher cherry volumes and higher blueberry pricing.

Adjusted EBITDA increased 31.6%, or $3.2 million, primarily due to improved profitability in our joint venture businesses, as well as by earnings growth in our southern hemisphere export business, driven particularly by higher cherry volumes.

Revenue increased 9.8%, or $321.6 million, primarily driven by higher worldwide volumes of bananas and pineapples sold, as well as higher worldwide pricing of bananas, pineapples and plantains, partially offset by lower worldwide volumes of plantains sold.

Adjusted EBITDA decreased 11.6%, or $25.0 million, primarily driven by higher fruit costs, due both to higher overall sourcing costs in the market and higher fruit costs following Tropical Storm Sara, as well as higher shipping costs due to the completion of scheduled dry dockings and a short term operational disruption to one of our vessels servicing the North American market. These challenges were partially offset by an improved performance in pineapples.

Revenue increased 11.3%, or $407.9 million, primarily driven by strong performance in Spain, the U.K., the Netherlands and Scandinavia, as well as a favorable impact from foreign currency translation of $172.0 million, as a result of the strengthening of the Swedish krona, euro and the British pound sterling against the U.S. Dollar. These increases were partially offset by a net negative impact from acquisitions and divestitures of $31.7 million. On a like-for-like basis, revenue increased 7.4%, or $267.6 million.

Adjusted EBITDA increased 14.1%, or $18.5 million, primarily driven by increases in earnings in Spain, Scandinavia, the Netherlands and the Czech Republic, as well as a favorable impact from foreign currency translation of $8.3 million. On a like-for-like basis, Adjusted EBITDA increased 7.7%, or $10.1 million.

Revenue decreased 1.8%, or $30.1 million, primarily due to the disposal of the Progressive Produce business in mid-March 2024. On a like-for-like basis, revenue increased 3.1%, or $52.6 million, primarily due to increases in the North American market due to higher revenues for the majority of commodities sold, partially offset by lower export pricing in some key southern hemisphere export products.

Adjusted EBITDA increased 21.2%, or $9.7 million, primarily due to strong performance in the North American market in kiwi and citrus, as well as by an increase for southern hemisphere export products and increased profitability in our joint venture businesses. On a like-for-like basis, Adjusted EBITDA increased 28.1% or $12.9 million.

Capital expenditures from continuing operations for the year ended December 31, 2025 were $121.5 million, including the buyout of two vessel finance leases of $36.1 million that were already reflected within Net Debt as of December 31, 2024. Other expenditures included investments in the rehabilitation of the impacted farms in Honduras following Tropical Storm Sara (investments that are materially supported by insurance proceeds of $18.0 million), investments in warehouse and logistics assets, particularly in Northern Europe, vessel dry dockings, other farming investments and ongoing investments in IT assets. Additions through finance leases from continuing operations were $15.6 million for the year ended December 31, 2025.

Free cash flow from continuing operations was $1.7 million for the year ended December 31, 2025, compared to $180.3 million for the year ended December 31, 2024. There were higher outflows from receivables due to the increase in revenue, higher advances to growers and lower securitization of trade receivables along with lower inflows from accounts payables and accrued liabilities. There was also an increase in tax payments due to cash tax paid on sale of the Fresh Vegetables division, higher repatriation tax and timing of payments. In addition there were higher cash capital expenditures due to buyout of two vessel finance leases and rehabilitation of farms in Honduras as noted above.

At the end of the year, Net Debt was $606.5 million, a reduction from $637.1 million as of December 31, 2024. Net Leverage decreased to 1.5x as of December 31, 2025 from 1.6x as of December 31, 2024.

On February 24, 2026, the Board of Directors of Dole plc declared a cash dividend for the fourth quarter of 2025 of $0.085 per share, payable on April 8, 2026 to shareholders of record on March 18, 2026. A cash dividend of $0.085 per share was paid on January 3, 2026 for the third quarter of 2025.

Post year-end, we repurchased 300,000 shares at an average price of $15.15 per share, totaling $4.5 million. $95.5 million remains available under the share repurchase program.

We are very pleased with the operating result for 2025, delivering Adjusted EBITDA of $395 million, which came in ahead of our latest guidance. The result is a testament to the experience and skill of our people in a year a year of macroeconomic uncertainty and other industry specific factors.

We made important strategic steps forward during 2025, in particular completing the sale of the Fresh Vegetables business. Today, our business is in a good position, with strong operational momentum across the group.

With this platform, we are targeting growth for fiscal year 2026, and at this early stage of the year we are targeting Adjusted EBITDA of at least $400 million.

For fiscal year 2026, we are forecasting routine capex of approximately $100 million, which is broadly in line with our annual depreciation charge. In addition, we continue to explore a range of development opportunities which, if executed, will strengthen our business and continue to drive further growth in the years to come.

Under the assumption that base rates will remain broadly stable in 2026, we expect full year interest expense to be approximately $60 million for 2026.

1.Refer to the Appendix of this release for an explanation and reconciliation of non-GAAP financial measures used in this release to comparable GAAP financial measures.

2.Fresh Vegetables results are reported separately as discontinued operations, net of income taxes, in our consolidated statements of operations, its assets and liabilities are separately presented in our consolidated balance sheets, and its cash flows are presented separately in our consolidated statements of cash flows for all periods presented. Unless otherwise noted, our discussion of our results included herein, outlook and all supplementary tables, including non-GAAP financial measures, are presented on a continuing operations basis.

3.Like-for-like basis refers to the measure excluding the impact of foreign currency translation movements and acquisition and divestitures. Refer to the Appendix and "Supplementary Reconciliation of Prior Year Segment Results to Current Year Segment Results" for further detail on these impacts and the calculation of like-for-like basis variances.

A global leader in fresh produce, Dole plc produces, markets, and distributes an extensive variety of fresh fruits and vegetables sourced locally and from around the world. Dedicated and passionate in exceeding our customers’ requirements in over 85 countries, our goal is to make the world a healthier and a more sustainable place.

Dole plc will host a conference call and simultaneous webcast at 08:00 a.m. Eastern Time today to discuss the fourth quarter and full year 2025 financial results. The live webcast and a replay after the event can be accessed at www.doleplc.com/investor-relations or directly at https://events.q4inc.com/attendee/266987087.

Certain statements made in this press release that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management’s beliefs, assumptions, and expectations of our future economic performance, considering the information currently available to management. These statements are not statements of historical fact. The words “believe,” “may,” “could,” “will,” “should,” “would,” “anticipate,” “estimate,” “expect,” “intend,” “objective,” “seek,” “strive,” “target” or similar words, or the negative of these words, identify forward-looking statements. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates, or expectations contemplated by us will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. Accordingly, there are, or will be, important factors that could cause our actual results to differ materially from those indicated in these statements. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made except as required by the federal securities laws.

James O'Regan, Head of Investor Relations, Dole plc

+353 1 887 2794

Brian Bell, Ogilvy

+353 87 2436 130

Consolidated Balance Sheets - Unaudited

The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item.

1 For the three months ended December 31, 2025, other items is primarily comprised of $2.2 million of acquisition and transaction costs, partially offset by $1.5 million of interest income on deferred transaction consideration. For the three months ended December 31, 2024, other items is primarily comprised of various immaterial items.

2 For the year ended December 31, 2025, other items is primarily comprised of $2.2 million of acquisition and transaction costs, partially offset by $1.5 million of interest income on deferred transaction consideration. For the year ended December 31, 2024, other items is primarily comprised of various immaterial items.

The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item. Refer to the Appendix for supplementary detail.

3 For the three months ended December 31, 2025, other items is primarily comprised of $2.2 million of acquisition and transaction costs. For the three months ended December 31, 2024, other items is primarily comprised of various immaterial items.

4 For the year ended December 31, 2025, other items is primarily comprised of $2.2 million of acquisition and transaction costs. For the year ended December 31, 2024, other items is primarily comprised of various immaterial items.

The following information is provided to give quantitative information related to items impacting comparability. Refer to the 'Non-GAAP Financial Measures' section of this document for additional detail on each item.

			Three Months Ended December 31, 2025 (U.S. Dollars in thousands)
			Revenue, net			Cost of sales			Gross profit			Gross Margin %			Selling, marketing, general and administration expenses			Other operating items5			Operating Income
Reported (GAAP)			$	2,366,161		(2,207,527)			158,634			6.7		%	(129,135)			(1,809)			$	27,690
Loss from discontinued operations, net of income taxes			—			—			—						—			—			—
Amortization of intangible assets			—			—			—						1,788			—			1,788
Mark to market (gains) losses			—			(2,393)			(2,393)						—			—			(2,393)
Gain on asset sales			—			—			—						—			(1,076)			(1,076)
Gain on disposal of businesses			—			—			—						—			(54)			(54)
Insurance proceeds, net of asset write-downs			—			544			544						—			—			544
Impairment of property, plant and equipment and lease assets			—			—			—						—			2,403			2,403
Restructuring and costs for legal matters			—			—			—						3,204			—			3,204
Debt refinancing expenses			—			—			—						—			—			—
Other items			—			54			54						—			—			54
Adjustments from equity method investments			—			—			—						—			—			—
Income tax on items above and discrete tax items			—			—			—						—			—			—
NCI impact on items above			—			—			—						—			—			—
Adjusted (Non-GAAP)			$	2,366,161		(2,209,322)			156,839			6.6		%	(124,143)			(536)			$	32,160

			Three Months Ended December 31, 2024 (U.S. Dollars in thousands)
			Revenue, net			Cost of sales			Gross profit			Gross Margin %			Selling, marketing, general and administration expenses			Other operating items6			Operating Income
Reported (GAAP)			$	2,167,464		(2,009,045)			158,419			7.3		%	(122,675)			(935)			$	34,809
Loss from discontinued operations, net of income taxes			—			—			—						—			—			—
Amortization of intangible assets			—			—			—						1,776			—			1,776
Mark to market (gains) losses			—			(378)			(378)						—			—			(378)
Gain on asset sales			—			—			—						—			(90)			(90)
Gain on disposal of businesses			—			—			—						—			(472)			(472)
Insurance proceeds, net of asset write-downs			—			(187)			(187)						—			—			(187)
Impairment of property, plant and equipment and lease assets			—			—			—						—			740			740
Restructuring and costs for legal matters			—			—			—						459			—			459
Other items			—			11			11						—			—			11
Adjustments from equity method investments			—			—			—						—			—			—
Income tax on items above and discrete tax items			—			—			—						—			—			—
NCI impact on items above			—			—			—						—			—			—
Adjusted (Non-GAAP)			$	2,167,464		(2,009,599)			157,865			7.3		%	(120,440)			(757)			$	36,668

5 Other operating items for the three months ended December 31, 2025 is comprised of $2.9 million of impairment charges and asset write-downs of property, plant and equipment, partially offset by a $1.1 million gain on asset sales and a $0.1 million gain on the disposal of businesses, as reported in the consolidated statements of operations.

6 Other operating items for the three months ended December 31, 2024 is comprised of $2.2 million of impairment charges and asset write-downs of property, plant and equipment, partially offset by a $0.7 million gain on asset sales and a $0.5 million gain on the disposal of businesses, as reported in the consolidated statements of operations.