Farmer Bros. Co. announced termination of Deverl Maserang as the Company?s President, without cause, effective September 30, 2023.

Mr. Maserang will complete his current term as a member of the Board of Directors of the Company unless his permanent successor is identified prior to the end of his term. Mr. Maserang?s departure is not the result of any disagreement with the Company on any matter relating to the Company?s operations, policies or practices. Upon departure from the Company, Mr. Maserang will receive the previously negotiated severance payments and benefits set forth in his Employment Agreement with the Company, dated September 6, 2019, which is described in the Company?s Annual Report on Form 10-K/A filed on October 27, 2022.