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ARGAN, INC. ANNOUNCES $25 MILLION SHARE REPURCHASE PROGRAM AND DECLARES SPECIAL CASH DIVIDEND OF $1.00 PER SHARE

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June 24, 2020 — ROCKVILLE, MD. — On June 23, 2020, the Board of Directors of Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) authorized the repurchase of up to $25.0 million of the Company’s issued and outstanding common stock. The Board of Directors also declared a special cash dividend of $1.00 per share of common stock in addition to the regular quarterly cash dividend in the amount of $0.25 per share of common stock, for a total declared cash dividend of $1.25 per share of common stock, payable July 31, 2020 to stockholders of record at the close of business on July 23, 2020.

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Filed September 10, 2020

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Filed September 9, 2020

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