X0306 4 2016-02-08 0 0000821026 Andersons, Inc. ANDE 0001336619 Waggoner Thomas Lowell P O BOX 119 MAUMEE OH 43537 0 1 0 0 VP, Corp Marketing & Operation COMMON STOCK 2016-02-08 4 F 0 164 29.31 D 22917.5936 D COMMON STOCK 2016-02-08 4 F 0 409 29.31 D 22508.5936 D PERFORMANCE SHARE UNIT (2016) 2475 D PERFORMANCE SHARE UNIT (2017) 2570 D PERFORMANCE SHARE UNIT (2018) 3212 D Stock performance unit granted pursuant to The Andersons, Inc. plan. Units vest 100% in 27 months contingent on cumulative EPS from 10/01/2013 to 12/31/2015. Number of underlying shares are determined by the twenty-seven months cumulative fully diluted EPS for the performance period. Stock performance unit granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on cumulative EPS. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period. Thomas Waggoner, by James Burmeister, Limited Power of Attorney 2016-02-09