Lindsay Announces Irrigation Project Valued at More Than $100 Million

Lindsay to provide efficient water management and technology solutions to address food security in the Middle East and North Africa (MENA) region

Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced that it has entered into a multi-year supply agreement to provide Zimmatic™ irrigation systems and the Company’s FieldNET™ remote management and scheduling technology in the MENA region. The project, valued at more than $100 million in revenue, is the largest in Lindsay’s history and is part of a broader strategy to support localized food production in the region.

“This partnership demonstrates Lindsay’s ability to execute large-scale and complex projects that address the critical needs of our customers, and enhances their ability to increase food production, conserve limited water resources and improve quality of life,” said Randy Wood, Lindsay President and CEO. “Our global team members work tirelessly to support our customers, and as leaders in water management and innovation, we look forward to executing this project and partnering to help address food security in the region.”

FieldNET technology provides a project-wide view to monitor and control pivots, and customized recommendations based on millions of agronomic data points synthesized with artificial intelligence for unprecedented accuracy through FieldNET Advisor™. In areas where available water is limited, Lindsay’s FieldNET technology allows growers to do more with less.

Gustavo Oberto, President of Global Irrigation for Lindsay, commented further, “Lindsay’s proven ability to provide this integrated solution, at scale, positions the organization to drive meaningful impact on food security and expansion of agricultural production in the region. We are proud to have earned the trust of our partners to provide precision irrigation solutions that help maximize production, conserve valuable and scarce resources and expand the region’s potential.”

Pivot shipments for this project will begin in the fiscal fourth quarter of 2024 and are expected to continue through 2025.

About Lindsay Corporation

Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world's rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world's roads, bridges and tunnels, through the Barrier Systems™, Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.Lindsay.com.

FieldNET, FieldNET Advisor, Zimmatic, FieldWise, Barrier Systems, Road Zipper and Snoline are trademarks or registered trademarks of Lindsay Corporation and/or its affiliates.

Concerning Forward-Looking Statements

This release contains forward-looking statements that are subject to risks and uncertainties, and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, company performance, and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that Lindsay Corporation files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and those statements preceded by, followed by or including the words "anticipate," "estimate," "believe," "intend," "expect," "outlook," "could," "may," "should," "will," or similar expressions. For these statements, Lindsay Corporation claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Lindsay Corporation undertakes no obligation to update any forward-looking information contained in this press release.

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