A Message from Our CEO

To our customers,

As we move through the holiday season, we extend our deepest appreciation to our customers for their continued trust and partnership. We are grateful for the opportunity to work together.

This season also brings news from our supplier partners, with several key agricultural categories experiencing notable shifts, particularly in mustard, olives, and Arborio rice.

The mustard seed harvest has delivered notably stronger yields and improved availability compared to recent years.

In the olive category, producers navigated late-season heat and limited rainfall, resulting in an overall average crop. While total yield remains slightly lower than last year, the new crop brought higher volumes of large caliber olives, which were notably scarce last season.

The Arborio rice category is also showing signs of recovery following last season’s weather‑related setbacks. With raw materials becoming more readily available, we are optimistic about continued improvement in the category

On the logistics front, we continue to monitor ongoing developments in trade and tariffs:

• China remains subject to a 10% IEEPA Reciprocal Tariff through November 2026; the fentanyl-related tariff has been reduced from 20% to 10%.
• We are closely monitoring the Supreme Court proceedings on the legality of IEEPA tariffs as well as potential future tariffs on aluminum cans; we expect additional developments on these in the coming months.
• A small portion of our portfolio qualifies for tariff exemptions announced by the administration on certain food products; these exemptions will be factored into our future business planning (included categories such as: Heart of Palm, Baby Corn, and Pineapple).
• New reciprocal trade agreements were signed with Malaysia and Cambodia on October 26^th.

For more than a year, Roland Foods has taken measures to mitigate customer impact through alternative sourcing and strategic supply chain measures. While recent tariff reductions and exemptions are promising, we expect a continually evolving trade landscape, and will react and communicate accordingly to our customers.

Thank you, as always, for your continued partnership.

Keith Dougherty

CEO of Roland Foods