King Ranch

King Ranch Board of Directors to Begin CEO Search

For Immediate Release
January 14, 2021

(Houston, Texas) –The King Ranch, Inc., Board of Directors today announced the search for a successor for the
current President and Chief Executive Officer, Robert J. Underbrink, 59, of Houston, Texas. Underbrink has been
President, CEO and a member of the board for 10 years, and an employee for 36 years.

Company Chairman James H. Clement commented, “King Ranch and its family owners recognize the leadership
Robert has brought to King Ranch. Robert has been a highly capable CEO, who helped the Company diversify and
pursue new opportunities in turfgrass, permanent nut crops, and branding joint ventures. As we move ahead, we will
work to identify new leadership with the same passion and dedication Robert has provided King Ranch for the last
10 years.”

Clement stated that Underbrink will remain President, CEO and a board member until a successor is announced.
He will continue to serve as an advisor to the Company on various matters.

“It’s been a journey of a lifetime,” Underbrink said. “The Company continues to expand its operations. Its employees
are its most important asset. The family is in its 7th generation, and we believe the time is right to proceed with
succession planning for this important role.”

“Robert has been an energetic and respected leader for the Company,” commented John Alexander, who chairs the
Corporate Governance and Nominating Committee which will be guiding the Board’s search effort. Alexander will be
the point of contact for all inquiries relating to the search.

King Ranch, Inc., is a privately-held agricultural production and resource management company established in 1853.
Headquartered in Texas and owner of the historic 825,000 acre King Ranch, its operations include cattle breeding and
production, horses, wildlife management and recreation, and the production of a number of agricultural commodities
including cotton, milo, sugar cane, almonds and pistachios and various vegetables.

King Ranch operates extensive turfgrass operations and is the majority owner of the largest citrus producer in the
United States. The Company operates various retail operations, including the famous King Ranch Saddle Shop, and has
branding partnerships with Ford Motor Co., Textron Aviation and most recently with the Fertitta Family for the
expansion of the King Ranch Texas Kitchen restaurant concept.


DeJuana Bivins
Phone: 832-681-5701