2025 Natural Grocers Sustainability Report

FISCAL YEAR 2025 SUSTAINABILITY REPORT

Letter from Our Co-Presidents

We are pleased to present the Natural Grocers by Vitamin Cottage, Inc. Sustainability Report for the fiscal year 2025 reporting period.

Natural Grocers ® has a legacy of being a values-driven company. Our commitment to building a healthy, sustainable future for our customers, our good4U SM Crew (Crew), and our communities is authentic. We work hard to ensure that our stores, operations and supply chain reflect these values. In our fiscal year 2025 report, we are proud to feature our differentiated nutrition education program, and highlight the quality and transparency of our product standards. Nutrition Education

When our parents founded the company in 1955, it was on the conviction that nutrition is the foundation of good health. For the past seventy years, we have provided free nutrition education because we believe it empowers our customers, Crew and communities to improve their well-being. Our company’s approach to nutrition education is evidence-based and research-backed. To bring this commitment to life, we have a full-time Nutritional Health Coach (NHC) position in every store, setting us apart from our peers. Our NHCs are passionate, credentialed experts who offer free, one on-one coaching, nutrition education and recipe demo classes, and personalized shopping support—not just for customers, but for Crew members too. In fiscal year 2025, we invested more than $7 million to offer free nutrition education services. For more information about our Nutrition Education program please see pages 8 to 11 of this report. Things We Won’t Carry and Why

Studies show that offering nutrition education in a trusted, convenient setting—like a grocery store—removes barriers to access and encourages real time application of healthier nutritional choices. Please see page 8 for more information. In-store nutrition education empowers customers to turn knowledge into action

We believe that our commitment to carrying carefully vetted products that prioritize nutritional health has differentiated us from our peers and established our thought leadership within the grocery industry. Our philosophy since the company's founding is that food should be natural, nourishing, and taste good. When we assess food ingredients, we ask this primary question: is this ingredient being added because it supports the nutritional health and wellbeing of the consumer? Through our product standards, we strive to carry ingredients that support nutritional health and wellbeing. At Natural Grocers, quality is measured as much by what we don’t sell as by what we do. Through our product standards, we strive to avoid carrying products made with problematic ingredients, including many highly processed ingredients including artificial and synthetic chemicals and additives that are legally allowed to be added to food. In 1990 our company created a dynamic list of the most problematic ingredients and an explanation why we will not carry them. Our company's quality standards team monitors the latest research and meets regularly to review specific ingredients, resulting in on going modifications and updates to this list. As of October 2025, the list comprised more than 500 problematic ingredients. For example, Natural Grocers’ grocery standards have always prohibited products containing synthetic colors, which we define as any food coloring derived from a non-food source, often from a petrochemical source, and required to be labeled as color additives under the Federal Food, Drug and Cosmetic Act (FD&C). In January 2025, the FDA issued an order to revoke the use of FD&C Red No. 3 in food and ingested drugs. Additionally, the U.S. Department of Health and Human Services and the FDA announced a series of measures to phase out petroleum-based synthetic dyes from the nation’s food supply. Prohibiting products containing synthetic colors since 1955 is just one example of our company’s thought leadership within the grocery industry. For more information please see page 18 of this report, and the full list at Things We Won’t Carry and Why.

Kemper Isely, Co-President

Zephyr Isely, Co-President

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Table of Contents

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COMPANY OVERVIEW

STATEMENT ON SUSTAINABILITY

NUTRITION EDUCATION

28 30 36 12 38

PRODUCT STANDARDS

OPERATIONS

PEOPLE

CORPORATE OVERSIGHT

SASB INDEX

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Company Overview

Natural Grocers ® is an expanding specialty retailer of natural and organic groceries, dietary supplements and body care products. We focus on providing high-quality products at affordable prices, exceptional customer service, nutrition education, and community outreach. We strive to generate long-term relationships with our customers based on transparency and trust by: Selling only natural and organic groceries, body care products and dietary supplements that meet our strict quality guidelines - we do not carry grocery products that are known to contain artificial flavors, preservatives or sweeteners (as defined by our standards), synthetic colors, or partially hydrogenated or hydrogenated oils; Utilizing an efficient and flexible smaller-store format to offer affordable prices and a convenient, clean and shopper-friendly retail environment; Enhancing the shopping experience by providing free science-based nutrition education to help our customers make well-informed health and nutrition choices; and Incorporating principles of ecological sustainability into our product standards and company practices.

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CORPORATE MILESTONES

1955

Co-founders Margaret and Philip spread healthy living concepts by sharing whole grain bread samples and nutrition books door-to-door

1958

First store opens

1999

The second-generation Iselys officially purchased the company from the first generation

IPO 2012 2015

Margaret was inducted into the Natural Products Industry Hall of Legends

2025

Celebrated 70 years of providing affordable, high quality products and free nutrition education for our communities

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Our Crew as of 09/30/2025

FY 2025 Net Sales $1.33 billion

Body Care, Pet Care & other 9%

3,455 3,840 795 410

Full Time

Part Time

Grocery 72%

Dietary Supplements 19%

Crew in Stores

Crew in Corporate, Bulk Packaging Facility and Distribution Center

Financial Sustainability • 22 consecutive years of positive daily average comparable store sales growth • Diluted earnings per share growth of 125% over the previous five years • Commitment to returning value to our stockholders: issued dividend payments of $5.24 per common share since we instituted a cash dividend six years ago

Geographic Footprint as of 09/30/2025: 169 stores in 21 states

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We believe that our company’s ongoing financial success demonstrates how a business model dedicated to offering affordable, high-quality natural and organic products can deliver positive environmental and social impact, while creating value for all our stakeholders. We hope to inspire other companies around the world to follow our lead.

All data in the Natural Grocers Fiscal Year 2025 (FY 2025) Sustainability Report (report) reflects results for the fiscal year ending September 30, 2025, unless identified otherwise.

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Since our founding in 1955, Natural Grocers ® has been committed to offering quality products at affordable prices, nutrition education, and caring for our customers, Crew and communities. These are our Five Founding Principles, which today many would recognize as sustainability principles, and they continue to drive every aspect of our business practices. Statement on Sustainability

We believe that grocery stores play a pivotal role in the food chain, a system that is essential to health and wellbeing. We choose to positively impact the ways that food in this nation is grown, raised, and sold. We aim to offer nutritionally sound, environmentally responsible products, and prioritize vendors and farmers who are as passionate about human health, animal welfare, and the health of our planet as we are. We believe that our company’s greatest opportunity to positively impact human health, environmental sustainability, and animal welfare is through our rigorous product standards . We prioritize products that are produced with regenerative and sustainable agricultural practices, which support the quality of soil, water, air, as well as biodiversity. We are committed to dairy, egg, meat, and seafood standards that nurture the welfare of animals and support farming communities. We strive to offer pricing that makes regenerative, sustainable, and healthful choices more affordable for our customers, Crew and communities. We were founded on the conviction that nutrition is the foundation of good health, and that free nutrition education empowers our customers,

Crew and communities to improve their well being. Like our product standards, our approach to nutrition education is evidence-based and research backed. In FY 2025, we invested more than $7 million to offer free nutrition education services, provided by our Nutritional Health Coaches, to benefit the health and wellness of our customers, Crew and communities. We strive to hire Crew who share our values. Our Crew are guided by our Five Founding Principles and are dedicated to upholding these values throughout our stores, operations, and supply chain. We support our Crew members’ pursuit of healthy, balanced lifestyles by providing free nutrition education, compensation above minimum wage, robust discounts and store credit, and comprehensive benefits. We support non-profit groups committed to the health and well-being of our communities and the environment.

OUR FIVE FOUNDING PRINCIPLES SUPPORT THE PLANET AND ITS INHABITANTS To demonstrate the interconnectedness, each page of this Sustainability Report includes tags identifying the Five Founding Principles in action and the beneficiaries.

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SPOTLIGHT ON:

Nutrition Education

We believe that access to reliable, science-based nutrition information is a cornerstone of health and wellbeing: that is why Nutrition Education is one of our Five Founding Principles. By providing free nutrition education, we empower our customers, our Crew and our communities to make informed choices that support healthy lifestyles. This commitment reflects our dedication to fostering a culture of healthy empowerment. To bring this commitment to life, we have a full-time Nutritional Health Coach (NHC) position in every store, setting us apart from our peers. NHCs are passionate, credentialed experts who offer free, one-on-one coaching, educational classes, and personalized shopping support—not just for customers, but for Crew members too.

Studies show that offering nutrition education in a trusted, convenient setting—like a grocery store—removes barriers to access and encourages real time application of healthier nutritional choices. By integrating education where decisions happen, we empower customers to turn heart of our Nutrition Education program. Through complimentary, personalized nutritional coaching and in-store guidance, they equip customers with the knowledge and confidence to make more informed, health conscious purchasing decisions— transforming grocery shopping into a powerful step toward lifelong wellness. knowledge into action. 1,2,3 This is why NHCs are at the

1. Food Insecurity, Neighborhood Food Environment, and Health Disparities: State of the Science, Research Gaps and OpportunitiesAngela Odoms-Young1 ∙ Alison G.M. Brown2 alison.brown@nih.gov ∙ Tanya Agurs-Collins3 ∙ Karen Glanz4 https://ajcn.nutrition.org/article/S0002-9165(23)66352-X/fulltext 2. Jung, S., Shin, Y., et al. (2019). Grocery store tour education program promotes fruit and vegetable consumption. Public Health Nutr., 22(14):2662-2669. doi: 10.1017/ S1368980019001630 3. Lewis, K., Roblin, D., et al. (2015). The personal shopper – a pilot randomized trial of grocery store-based dietary advice. Clin Obes, 5(3):154-161 https://pubmed.ncbi.nlm.nih. gov/25873139/

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NUTRITIONAL HEALTH COACHES Our NHCs bring expertise, passion, and science-based guidance to our customers, Crew, and communities. Highly Qualified and Committed to Education Every NHC has earned a degree or certification in nutrition or a related field from an accredited institution. Their backgrounds include areas such as nutrition science, dietetics, holistic nutrition, and functional medicine. To stay current with the latest research and best practices, NHCs complete ongoing continuing education, ensuring that they provide the most up-to-date, science-backed guidance. Unlike in many retail settings, our NHCs do not receive sales commissions, allowing them to focus solely on empowering customers with honest, unbiased education. Personalized Support and Real-World Application NHCs are available for complimentary one-on-one nutrition health-coaching sessions and personalized shopping support, helping customers optimize their eating plans, navigate dietary restrictions, and achieve their health goals. Whether it’s meal planning, label reading, finding nutrient-dense alternatives, or support to achieve a specific health goal, NHCs provide tailored guidance that allows customers to make informed choices. A Trusted Resource for Customers, Crew, and Communities Beyond individual coaching, NHCs play a crucial role in fostering a culture of health and wellness in our communities. They lead in-store nutrition classes and recipe demos for customers, train Crew members on key health topics, and ensure a compliant educational approach to customer service. NHCs also extend nutrition education beyond the aisles of our stores through community outreach. Building relationships with local health and wellness stakeholders is a core part of their role, allowing them to create impactful partnerships that support community wellbeing. By encouraging these collaborations, NHCs actively contribute to our commitment to making nutrition education widely accessible. Through their work, NHCs bring science-based nutrition guidance to every customer, Crew member, and community we serve. At Natural Grocers ® , we believe that access to trusted, reliable nutrition education is essential for lifelong wellness. Our NHCs play a pivotal role in delivering on this promise. More information at: Nutritional Health Coaches RECIPES To meet the needs of our customers, who have a wide range of dietary requirements and preferences (i.e., gluten free, vegan, vegetarian, Paleo, keto, etc.), we develop recipes in-house and currently have more than 550 available on our website. EDUCATIONAL MATERIALS Customers have access to more than 470 health-related articles in-store, discussing diet, lifestyle, and product ingredient information.

2025 SUSTAINABILITY IN THE FOOD INDUSTRY AWARD for our nutrition education program

Natural Grocers is the proud recipient of the 2025 Sustainability in the Food Industry Award, presented by the Shelby Report. This award recognizes our commitment to advancing sustainable practices in the food sector and our efforts to drive meaningful change, specifically within the "Collaborative Impact and Industry Leadership" category for our nutrition education program. For more information about this award, visit: Shelby Sustainability Award

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We believe that our company’s greatest opportunity to positively impact human health, environmental sustainability, and animal welfare is through our rigorous product standards. We also hold the conviction that nutrition is the foundation of good health. These values are the cornerstone of our product standards because farming and production practices that provide nutritious food made without the use of synthetic pesticides, or artificial additives, also benefit human health, environmental sustainability, and animal welfare. Our product standards are evidence-based and research-backed. Furthermore, our company continues to work within the industry to drive higher product standards. PRODUCT STANDARDS OVERVIEW We offer our customers approximately 20,000 Stock Keeping Units (SKUs) of natural and organic products per store, including approximately 6,500 SKUs of dietary supplements. We believe that our extensive product range enables our customers to fulfill, with few exceptions, all their grocery and dietary supplement needs in our stores. We prioritize products and producers with organic and regenerative agriculture practices, as well as meat, egg, and dairy standards designed to nurture the welfare of animals and farming communities. Product Standards We continue to demonstrate industry leadership in product standards and are the only national grocery retailer in the United States offering: 100% certified organic produce More than 50% organic across all products* Bulk products are 100% non-GMO and 70% certified organic* More than 65% non-GMO across all products* 100% pasture-based dairy 100% free-range eggs or better Committed to offering humanely raised and sustainably sourced meats, fish, and seafood 60% certified to environmental or social sustainability sourcing standards* Grocery product standards do not allow artificial flavors, preservatives or sweeteners (as defined by our standards), synthetic colors, or partially hydrogenated or hydrogenated oils

*As a percentage of FY 2025 Company Net Sales

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PRODUCT STANDARDS MILESTONES

1950s

We started pre-packing all bulk foods and refrigerating select bulk (nuts, seeds, and flours) to ensure quality, cleanliness, and freshness

1990

Released the first edition of “Things We Won’t Carry and Why” to define ingredients we won’t sell in our stores

2013

No longer permitting new grocery products with ingredients that are at high risk of coming from GMO crops, animals, or fermentables, unless those ingredients are certified organic or verified non-GMO

2014

Transitioned dairy offering to 100% pasture based

2016

Transitioned egg offering to a minimum standard of 100% free range or better (previously cage free)

2017

Compassion in World Farming awarded Natural Grocers ® the international Good Egg Award for our cage free egg supply chain

2017

Company launches line of premium quality private label products

2018

First national grocery chain to offer exclusively 100% certified organic and Fair-Trade Certified coffee for our private-label brand

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Regenerative Agriculture and its Impacts

NATURAL GROCERS ® PARTNERSHIP WITH RODALE INSTITUTE™ Rodale Institute is a 501(c)(3) nonprofit dedicated to growing the regenerative organic agriculture movement through rigorous research, farmer training, and education. Its groundbreaking science and direct farmer-support programs serve as a catalyst for change in farming and food production worldwide. Over their 78-year history, they have proven that organic farming is not only viable, but essential to humanity’s survival. Rodale Institute Farmer Training and Veteran Farmer Training We believe that regenerative agriculture is an important practice with the potential to mitigate climate change. In agricultural systems, the amount and length of time carbon is stored is determined predominantly by how the soil resource is managed. 1 The results are observable and measurable. The Rodale Institute’s 2020 white paper Regenerative Agriculture and the Soil Carbon Solution concluded that global adoption of regenerative agricultural practices provides a mechanism to sequester more than the current annual atmospheric carbon dioxide (CO 2 ) emissions generated by human activity. 2 Additionally, the white paper identified examples where, depending on the soil conditions and regenerative practice used, the soil carbon sequestration rate was rapid in the early years after implementation, which enables it to be a tool for near-term improvements. 1 Ecological Society of America https://www.esa.org/esa/wp-content/uploads/2012/12/carbonsequestrationinsoils.pdf 2 Moyer. J, Smith. A(PhD), Rui. R(PhD), and Hayden. J(PhD). (2020). Regenerative Agriculture and the Soil Carbon Solution. Rodale Institute. Regenerative farming philosophy incorporates best practices of pre-industrial farming with years of scientific and applied research. Compared to industrial agricultural practices, regenerative farming systems mimic nature and enhance ecosystem functions. The results include increased crop yields, improved water retention, healthier and more stable soil, the return of pollinators, birds and vital biodiversity and a strengthened resilience to climate instability. By returning the land to its natural state, the soil and above-ground biomass are able to operate as designed and may help mitigate climate change impacts by sequestering carbon within the soil itself. Regenerative agriculture also provides greater economic value and quality of life advantages for farming and ranching communities by making the land productive and sustainable over the long term. For additional information, please see the following articles: Earth Watch: Defining Regenerative Agriculture Earth Watch: Regenerative Food Systems are Rooted in Healthy Soil Earth Watch: New Report Exposes the Harsh Reality of Conventional Agriculture’s Most “Regenerative” Claim CARBON CAPTURE POTENTIAL

These highly immersive, full-time programs allow anyone to begin a career in organic crop and vegetable production. Students learn financial skills, soil science, digital marketing and botany, coupled with hands-in-the-soil applications, learning on a world-renowned experimental farm. Students work alongside Rodale Institute farmers to grow organic produce for farm shares and farmers’ markets, learning how to process, distribute and sell healthy, organic food as a successful business. NATURAL GROCERS DEDICATED TWO FUNDRAISER CAMPAIGNS IN FY 2025 TO RODALE INSTITUTE, RAISING MORE THAN $200,000 TO SUPPORT RODALE INSTITUTE’S FARMER TRAINING AND VETERAN FARMER TRAINING PROGRAMS. Learn More at RodaleInstitute.org

Rodale Institute was included in Fast Company’s Most Innovative Companies 2025 list for leveraging its decades of knowledge in organic and regenerative farming to bring more farmers and consumers aboard.

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Since their founding in 2003, Thousand Hills Lifetime Grazed (THLG) has been focused on its mission to nourish soil, plants, cattle and people by holistically grazing cattle for their lifetime. They continue to grow and develop as an industry leader and have been certified as 100% grassfed by the American Grassfed Association for many years and recently earned the Audubon Conservation Ranching certification to further elevate their transparency and demonstrate the impact of their standards. Certified by American Grassfed™ reflects a rigorous set of standards for animal husbandry and grazing practices, designed to ensure humane animal treatment, promote animal welfare, and support human health: Animals are fed only grass and forage from weaning until harvest No GMOs, grain, grain byproducts, or dried distillers grains are permitted VENDOR PROFILE: Thousand Hills Lifetime Grazed The Audubon Certified-Bird Friendly Land seal recognizes lands managed to promote biodiversity, including but not limited to birds. This certification has three pillars that THLG follows: Habitat Management, Animal Health and Welfare, and Environmental Sustainability. The requirements include soil monitoring to assess the health of the land and the animals’ positive impacts on the soil. “The Audubon certification means consumers can know with certainty the practices of all our farmers support diverse grassland pastures devoid of pesticides while full of grasses, flowers, forbs, legumes, buzzing insects, and nesting birds. Its habitat is made entirely possible through bird-friendly grazing,” said Matt Maier, owner of Thousand Hills Lifetime Grazed. For more information, please visit THLG's website at thousandhillslifetimegrazed.com . Animals are raised on pasture without confinement to feedlots Animals are never treated with antibiotics or growth hormones All animals are born and raised on American family farms

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Natural Grocers ® Is America’s Organic Headquarters ®

Our company is well-positioned to serve our communities as the principal source for organics due to our long history as leaders in the organic products movement, our commitment to organic advocacy, and our prioritization of organic offerings in our stores. We believe that choosing organic products is one of the most impactful ways to lower the environmental footprint of food. 100% certified organic produce

More than 50% organic across all products* 70% of Bulk products are certified organic* 100% ORGANIC PRODUCE

We sell only USDA Certified Organic produce and source from local, organic producers whenever feasible. Our selection varies based on seasonal availability and we strive to offer a wide variety of produce. We carry only 100% certified organic produce to eliminate the possibility of contamination from the chemicals applied to conventional produce. Certified Organic Handlers: Each Natural Grocers store is certified annually as an organic handler and processor by an accredited USDA certifier. We operate all our stores in compliance with the USDA National Organic Program standards, which restrict the use of certain substances for cleaning and pest control and demand rigorous recordkeeping and methods to prevent co-mingling and contamination, among other requirements.

More info is available at: 100% Organic Produce Standards For more information about pesticides in conventionally-grown produce, please see Earth Watch: Findings Indicate Troubling Amounts of Toxic Pesticides in Everyday Fruits and Veggies For more information about airborne pesticide drift, please see Earth Watch: The Invisible Reach of Pesticides

*As a percentage of FY 2025 Company Net Sales

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Supporting Biodiversity

Biodiversity encompasses the variety of life on Earth, from genes to the vast range of plants, animals, and microorganisms. It sustains life on our planet, is foundational to healthy and nutritious diets, and is critical to safeguarding food security. Natural Grocers supports biodiversity by being a marketplace that prioritizes organic and regeneratively produced products because promoting biodiversity is a key principle of these food production systems. We also seek relationships with vendors that prioritize biodiversity-supportive practices. We educate customers on the importance of biodiversity and the product choices that help protect it by communicating our high standards in our stores, through educational articles in our Health Hotline ® Magazine and on our website, and classes taught by our Nutritional Health Coaches. By integrating biodiversity-promoting practices into our offering, we support a healthier planet and a food system that yields nutritious options and long-term food security. REGENERATIVE AGRICULTURE SUPPORTS BIODIVERSITY ABOVE AND BELOW GROUND Regenerative systems promote biodiversity through interdependent practices. In return, diverse species provide essential ecosystem services, including nutrient cycling, erosion control, carbon sequestration, water infiltration, and pest and disease regulation. For more information about regenerative agriculture’s support of biodiversity, including biodiversity-cultivating practices, please see Earth Watch: Biodiversity Loss— It’s an Agricultural Issue and Earth Watch: Fighting Erosion & Building Biodiversity, One Prairie Strip at a Time

ORGANIC FARMING SUPPORTS POLLINATORS

More than 75 percent of the world’s major food crops rely, at least in part, on pollination by insects. Due to the industrialization of farming practices during the mid-20th century, pollinator populations have been declining in recent decades. Monoculture farming has had a detrimental impact on biodiversity, including habitat loss for pollinators. Industrialization of farming practices led to the widespread use of insecticides, fungicides, and herbicides. Neonicotinoids, the most widely used class of insecticides globally, pose numerous threats to bees by impairing their development and foraging abilities and increasing their vulnerability to disease. Fortunately, by eating organic foods, we can support the health and stability of pollinator populations and biodiversity. Organic farms prohibit the use of synthetic pesticides and instead utilize integrative pest management to control harmful pests and promote healthy crop growth. By supporting pollinators with organically managed land, they can exist in more stable populations with greater biodiversity, thereby promoting the long-term health of our planet and improving the security of our food supply. For more information about pollinators and organic practices, please see For the Love of Organics: Pollinators

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Things We Won’t Carry and Why

Our philosophy since our company’s founding is that food should be real, nourishing, and taste good. Quality matters for human health, economic health, and the planet’s health. At Natural Grocers, quality is measured as much by what we don’t sell as by what we do. Since 1990, we have maintained a growing list of ingredients which we won’t sell in our stores and the reasons why. Our Quality Standards Team stays abreast of the latest research to evaluate product issues and concerns, and reviews specific ingredients, resulting in ongoing modifications to this list. We ultimately ask: does this ingredient being added to food support human health? As our commitment to quality remains constant, our list of Things We Won’t Carry and Why is always growing. We believe that our commitment to carrying carefully vetted products that prioritize nutritional health has differentiated us from our peers and established our thought leadership within the grocery industry. For example, there are many ingredients that have long been prohibited by our standards, which the U.S. Food and Drug Administration has only recently addressed over safety concerns. 1 Examples include, but are not limited to: synthetic colors, bromated vegetable oil, and partially hydrogenated vegetable oils. As of October 2025, our list of Things We Won’t Carry and Why comprised more than 500 ingredients. OUR GMO POLICY Our philosophy is that food should undergo as few modifications as possible. To this end, since 2013, we have sought to avoid sourcing new items with ingredients at high risk of originating from genetically modified organisms (GMOs). If a proposed new product includes high-risk ingredients, they must be organic or verified as non-GMO; if a supplier cannot provide confirmation, we will not carry the product. Our GMO Policy in Action: • We prioritize organic whenever possible, and organic is naturally non-GMO • Our produce is 100% certified organic, and therefore non-GMO • Our bulk department offering is 100% non-GMO, with 70% organic selections • More than 65% of all products we sold were non-GMO OUR PALM OIL POLICY The production of this extensively used ingredient has significant social and environmental impacts. Consequently, we seek to influence the supply chain at the farm and production levels through our transparent sourcing policies. We accept all certified organic single-ingredient palm oil For products that are not certified organic, we accept Roundtable on Sustainable Palm Oil (RSPO) Certified under the following circumstances: We accept RSPO Segregated and Identity Preserved palm oil, which is kept separate from conventional palm oil throughout the supply chain and is certified sustainable We do not accept RSPO Mass Balanced or Book & Claim palm oil because up to 90% of the batch can come from conventional sources. We want to incentivize the shift to responsible palm oils, so we choose RSPO levels that are above this minimum standard and avoid co-mingling. We also accept Palm Done Right certified palm oil, which comprehensively monitors social, wildlife, and environmental impacts through third-party certifications and ensures responsible sourcing throughout the supply chain We also accept palm oil that is otherwise third-party verified as environmentally responsible, deforestation-free, wildlife friendly, and socially responsible Federal Appeals Court Sides With Natural Grocers in GMO Labeling Case, Resulting in Clearer, More Transparent Labeling – see page 37 for more information

1. U.S. Food and Drug Administration. (2025, January 15). List of select chemicals in the food supply under FDA review. FDA. https://www.fda.gov/food/food-chemical-safety/list-select-chemicals-food-supply-under-fda-review

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Supplier Strategy

Natural Grocers ® is always looking for innovative natural and organic products, and has a rigorous application process to ensure the supplier and product meet strict criteria. We support local vendors throughout our regions whenever their products meet our standards

and are a fit for our stores. QUALITY ASSURANCE

We employ multiple benchmarks to ensure the quality of the products we sell. We strive to work with reputable suppliers that have shown proof of compliance with established regulatory and industry guidelines. Our Purchasing Department requires a complete supplier and product profile as part of the approval process, and we expect our vendors to comply with industry best practices for food safety. Our dietary supplements suppliers must follow the Food and Drug Administration’s current Good Manufacturing Practices (GMP), supported by quality-assurance testing for the base ingredients and the finished product. We believe these requirements build trust for customers seeking the highest quality supplements available. Many of our suppliers are inspected and certified under the USDA National Organic Program, and through voluntary industry standards and other third-party auditing programs concerning additional ingredients, manufacturing, and handling standards. Farm Visits: Whenever possible, we perform in-person farm and ranch visits to inspect on-farm operations, including how animals are raised, fed, cared for, transported, processed, and packaged. Our level of due diligence is extraordinary in the industry and allows the Natural Grocers team to audit supplier operations and educate our Purchasing Department on industry best practices and challenges. These visits also inform our Animal Product Standards, which focus on realistic metrics to measure positive on-farm practices and foster cooperative supplier relationships that encourage continual improvement. PRODUCT SAFETY AND QUALITY We work hard to ensure that the food in our stores is handled with care. Once received, our products are maintained and stored in accordance with applicable food safety practices. Our bulk products are pre packaged, and we refrigerate many bulk nuts, seeds, and flours to ensure quality, cleanliness, and freshness. All coolers we operate include technology that streamlines temperature tracking in our stores. Our Crew complete all required food safety certifications and follow company procedures for ensuring product stays fresh and safe for our customers. Any item that falls outside of food-safe guidelines is removed from the sales floor and disposed of appropriately.

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Egg Standards

We Do Not Sell Eggs from Caged Hens In the United States, ‘cage-free eggs’ likely does not mean what the average consumer thinks it means. The United States Department of Agriculture’s definition of cage free is that hens are not caged during the laying cycle; the hens may be caged when not producing eggs, and there is no requirement for the hens to spend time outdoors. The cage-free labeling requirements do not address farm ecological practices, nor humane standards of care such as space requirements per hen in the barn. Our Minimum Egg Standard Is Free Range Our egg ranking system has three tiers: Bronze: Minimum of 2 square feet of outdoor access per hen (the amount a sizeable panel of animal welfare scientists and veterinarians determined to be necessary to allow for chickens to exhibit their natural behaviors). Silver: Enhanced outdoor access space with a minimum of 20 square feet per hen and/or at least 6 hours of outdoor access per day. Gold: Outdoors all day with a minimum of 108 square feet of space per hen; certified organic and/or regeneratively raised. More info is available at: Egg standards

DAIRY AND EGG STANDARDS MILESTONES:

2014

Transitioned dairy offering to pasture based only

2016

Transitioned egg offering to a minimum standard of free range (previously cage free)

2017

Compassion in World Farming awarded Natural Grocers ® the international Good Egg Award for developing an innovative supply chain of 100% free-range eggs, the first such exclusively free-range egg supply chain in the U.S. major retail grocery industry

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We offer an extensive selection of natural and organic grocery products with an emphasis on minimally processed items, as well as a wide variety of products associated with special diets, including gluten-free, non-dairy, and plant-based. We do not carry products that are known to contain artificial flavors, preservatives or sweeteners (as defined by our standards), synthetic colors, partially hydrogenated or hydrogenated oils, or have been irradiated. Grocery Standards

NATURAL GROCERS ® BRAND PRODUCTS

Natural Grocers’ pre-bagged bulk products have been part of our offering since the 1960s. The Natural Grocers Brand product line was launched in 2018 and now has approximately 800 private-label products. Our private brand allows us to offer premium-quality, natural and organic groceries at affordable prices. We prioritize certified organic and non-GMO for our Natural Grocers Brand Products. Whenever possible, we seek to support like-minded suppliers who prioritize social responsibility and environmental sustainability. We refrigerate select bulk nuts, seeds, and flours to ensure quality, cleanliness, and freshness. We offer a wide selection of private label repackaged bulk products, of which 100% are non-GMO and 70% are certified organic. We offer peanut and almond butters that are freshly ground in-store. More info is available at: Grocery Standards, Bulk Standards, and Things We Don't Carry and Why

Dietary Supplement Standards

Our Dietary Supplements department offers approximately 6,500 SKUs of name-brand and Natural Grocers Brand private-label supplements. We do not allow artificial flavors, sweeteners (as defined by our standards), synthetic colors and other ingredients we believe to be potentially harmful to human health. All our supplements are required to comply with current Good Manufacturing Practices (GMP) established by the FDA, and the vast majority of our supplement offerings go above and beyond GMP and are manufactured in a GMP third-party certified facility. Our Quality Assurance Team scrutinizes each step of formulation, from raw materials to purity testing methods, to ensure a product meets our high-quality standards. We also periodically conduct independent lab testing to ensure that the quality and potencies stated on labels are accurate. Our commitment to quality means that the latest supplement craze may not be immediately available in our stores. The review process takes time, as we require a significant amount of information from our vendors. More info is available at: Vitamins And Supplements And Dietary Supplement Standards and Things We Won’t Carry And Why In Vitamins & Supplements NATURAL GROCERS BRAND SUPPLEMENTS Our private-label brand of supplements is a comprehensive offering of vitamins, herbs, minerals, and precision formulas. Our branded supplements are manufactured in a GMP third-party certified facility, affordably priced, and formulated with science-based expertise and premium-quality ingredients.

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Body Care Product Standards

We offer a full range of products, from everyday essentials to high-end formulations, all containing natural and/or organic ingredients, including baby care, bath & body care, cosmetics, essential oils, facial care, hair care, and oral hygiene products. We partner with companies that are committed to crafting products that deliver results without compromise.

THE THINGS WE DON’T ALLOW Our in-house Quality Standards Team routinely evaluates ingredients used in body care products to ensure that our body care standards are focused on avoiding ingredients that are potentially harmful to humans and the planet, based on the most recent scientific evidence. For example, our standards to not allow body care products made with parabens, phthalates, talc, aluminum tetrahydroxide, formaldehyde, and oxybenzone. More info is available at: Natural Grocers Body Care Products, Body Care Standards, and Things We Won’t Carry And Why In Body Care

Pet Product Standards

The guiding principles of our pet product standards are premium-quality formulations created with science backed nutritional research. We carry a wide selection of natural and organic pet foods, including many made without common allergens like corn, soy, and wheat. We also offer supplements and grooming aids for pets that meet the same standards we look for in our human products. OUR NATURAL GROCERS ® BRAND Our Natural Grocers Brand pet collection products are delicious, nutritious, and made with uncompromising quality standards. The pet collection’s minimum standards include human-grade ingredients that are either certified organic, non-GMO verified, or both.

More info is available at: Natural Grocers Brand Products - Pets and Pet Product Standards

Books

Books have played a pivotal role in the company since our founding when Margaret and Philip Isely went door-to door lending books about nutrition to their neighbors. Today, every store has a book nook, where customers can find publications on a range of health and wellness topics.

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Household Cleaning Products

EXPANDED RESEARCH-BASED STANDARDS FOR HOUSEHOLD CLEANING PRODUCTS In 2025, we expanded our product standards for household cleaning products to reflect the latest research and to further align with our long-standing commitment to human and environmental health. We believe that these updates continue to enhance our position as an industry leader in ingredient transparency and standards for more environmentally sound household cleaning products. BUILT ON A FOUNDATION OF TRUST We first introduced household cleaning standards in 2016, offering carefully curated alternatives to conventional products. The company’s latest updates reflect growing scientific understanding about the impact that certain common ingredients can have on indoor air quality, ecosystems, and overall well-being. With this update, the list of prohibited ingredients in household cleaning products now includes more than 100 ingredients. In addition to previously excluded substances like phosphates, synthetic fragrances, synthetic colors, and chlorine, the new standards ban: FULL INGREDIENT DISCLOSURE—BECAUSE TRANSPARENCY MATTERS Unlike federal regulations, which do not require full ingredient disclosure for household cleaning products, Natural Grocers® requires every brand it sells to provide a complete ingredient list on packaging. While limited exceptions are made for proprietary fragrance and enzyme blends, these components must still comply with our rigorous safety and environmental standards. MORE THAN CLEAN—PRIORITIZING PLANET-FRIENDLY PACKAGING We seek products that are ethically sourced, sustainably produced, and innovatively effective. We also prioritize more sustainable packaging with a reduced environmental footprint. This includes recycled, biodegradable, or plant derived materials. For example, many Natural Grocers Brand Household Cleaning Products use sugar cane-based or 100% post-consumer recycled plastic, while other leading options use recyclable paper and steel containers. For more information about select chemicals commonly used in conventional household cleaning products, please see Earth Watch: The Hidden Dangers of Conventional Cleaning Products. Formaldehyde donors Phthalates Parabens Ethanolamines Glycol ethers Quaternary ammonium compounds

Vendor Profile: Meliora

Founded in 2013 with the core value of complete transparency in product ingredients, they have an expanding selection of household products that are produced cleanly and responsibly by their team in Illinois. Meliora has options for laundry, bath and body soaps that are made without single-use plastic and are made from ingredients that are clearly listed on the packaging. As they expand, their vision remains the same and they keep a keen eye on waste and environmental impacts so that their growth does not adversely impact their neighbors and the environment. For more information about Meliora, please visit: https://meliorameansbetter.com Chicago-based Meliora is a growing company with a vision for people to have clean, happy, and healthy homes without relying on products with secret formulas and mysterious chemicals.

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Product Marketing and Education

COMMUNICATING STANDARDS IN-STORE Natural Grocers ® stores maintain detailed information tags on individual products and general store signage that identify our affordable pricing, product standards, dietary concerns, and local sourcing. We also provide customers with access to educational materials to expand their food and nutrition knowledge base. Natural Grocers provides customers with point-of-purchase information regarding our Egg Ranking System and our Meat & Seafood Ranking System . In the latter, we communicate through our Bronze, Silver, and Gold ranking tags, a brief Ranking Chart to detail the species-specific standards, and a QR code that links to our website standards page with full details. This messaging allows customers to make informed dietary and nutritional choices at the point of purchase. See our Meat Standards Ranking Chart below.

OUR STANDARDS

BRONZE • SUSTAINABLY FARMED • HUMANELY RAISED • NO antibiotics, hormones or growth promotants • NO animal by-products • NO cloned or genetically modified animals

SILVER INCLUDES BRONZE STANDARDS • NON-GMO feed • NON-GMO alfalfa (ruminants) • NO synthetic colorants (seafood) • FREE RANGE (poultry) • 100% GRASS-FED and/or certified organic (ruminants) • CERTIFIED ORGANIC and/or other regenerative farming practices (ruminants, seafood) • SUSTAINABLY SOURCED (seafood)

GOLD INCLUDES BRONZE & SILVER STANDARDS • CERTIFIED ORGANIC and/or other regenerative farming practices (poultry, pork) • 100% U.S. DOMESTIC (ruminants, poultry, pork) • WILD CAUGHT & SUSTAINABLY CERTIFIED (seafood, boar)

INFORMATION AVAILABLE ON OUR WEBSITE AND MOBILE APP Our company website hosts product and standards information, educational materials such as our Health Hotline magazine, advocacy and news items, among other content. Our website features product and recipe search interfaces. Our Natural Grocers mobile application provides an additional channel for content.

STAKEHOLDER ENGAGEMENT WITH THE “MEET YOUR FARMER” FILM SERIES Our documentary film series tackles complex or lesser understood topics, including humane poultry processing, regenerative agronomy, and land management. These documentaries also highlight solution-oriented best practices and equip viewers to make informed decisions about the environmental impact of their food choices. Each film asks us to question the status quo of food production, while evoking a positive message of hope and transformation. In our film Dirty Little Secret, Matt Maier, owner of Thousand Hills Lifetime Grazed, explains the labeling loopholes that are used to trick consumers into buying feedlot beef by calling it “grass fed.”

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