Management Change/Compensation Form 8 K

On March 20, 2024, Mr. Gregory S. Bielli, President and Chief Executive Officer ("CEO") of Tejon Ranch Company ("Company"), announced his intent to retire on December 31, 2024, which retirement and other particulars were reported on a SEC Form 8K Current Report that was filed on March 25, 2024 (the "Initial Current Report").

As previously disclosed, an ad hocsearch committee of the Board is overseeing the search for Mr. Bielli's successor and this search is ongoing. At the Board's request, Mr. Bielli has extended his anticipated retirement date from December 31, 2024 to March 31, 2025 in order to provide continuity of leadership and to assist in the transition of a new President and CEO, once the search is completed. During this extension period, Mr. Bielli will continue to receive salary, plus a pro-rataportion of the target annual bonus he could have earned for the full year, and benefits. Mr. Bielli is not included in the 2025 executive compensation plan.

Due to the extension of Mr. Bielli's retirement date, the Company and Mr. Bielli have amended the Consulting Agreement (the material terms of which were disclosed in the Initial Current Report), to modify the commencement and termination dates of this agreement to April 1, 2025 - March 31, 2026. No other provisions of the Consulting Agreement have changed.

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