2025 Natural Grocers Sustainability Report

Natural Grocers by Vitamin Cottage, Inc. 12612 West Alameda Parkway Lakewood, Colorado 80228 naturalgrocers.com About Natural Grocers by Vitamin Cottage

Founded in 1955, Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) is an expanding specialty retailer of natural and organic groceries, body care products and dietary supplements. The grocery products sold by Natural Grocers ® must meet strict quality guidelines and may not contain artificial flavors, preservatives or sweeteners (as defined in its standards), synthetic colors or partially hydrogenated or hydrogenated oils. The Company sells only USDA-certified organic produce and exclusively pasture-raised, non-confinement dairy products and free-range eggs. Natural Grocers’ flexible smaller-store format allows it to offer affordable prices in a shopper-friendly, clean and convenient retail environment. The Company also provides extensive free science-based Nutrition education programs to help customers make informed health and nutrition choices.

Headquartered in Lakewood, CO, Natural Grocers has 168 stores in 21 states. Visit www.naturalgrocers.com for more information and store locations. Forward-Looking Statements

This sustainability report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 in addition to historical information. All statements that are not statements of historical fact, including those that relate to matters such as our sustainability targets, goals, commitments and programs, industry, business strategy, goals and expectations concerning our market position, future operations, and other financial and operating information, are forward-looking statements. We may use the words “aim,” “anticipate,” “aspire,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “hope,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “target” and similar terms and phrases to identify forward-looking statements in this sustainability report. The forward-looking statements contained in this sustainability report are based on management’s current expectations and are subject to uncertainty and changes in circumstances. We cannot assure you that future developments affecting us will be those that we have anticipated. Actual results may differ materially from these expectations due to changes in global, national, regional or local political, economic, inflationary, disinflationary, recessionary, business, interest rate, labor market, competitive, market, regulatory, trade policy, supply chain and other factors, many of which are beyond our control. Such risks, uncertainties and factors include the risk factors discussed in Item 1A – “Risk Factors” in our Annual Report on Form 10-K, and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (SEC), as well as, with respect to our sustainability targets, goals and commitments outlined in this sustainability report or elsewhere, any challenges, assumptions and dependencies identified in our reporting. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statements made by us in this sustainability report speak only as of the date of this report. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable securities laws. You are advised, however, to consult any disclosures we may make in our future reports filed with the SEC. Our reports and other filings with the SEC are available at the SEC’s website at www.sec.gov. Our reports and other filings with the SEC are also available, free of charge, through our website at www.naturalgrocers.com. Except as expressly incorporated by reference in this report, any information or document made available on our website does not constitute a part of this report. © Natural Grocers by Vitamin Cottage, Inc. 2026. All Rights Reserved.