Slides
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IIIQ 2025 Conference Call May 12, 2025 Hosted by: Alejandro Elsztain, CEO Matias Gaivironsky, CFO
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Main Events for IIIQ 25 and Subsequent 2025 REGIONAL CAMPAIGN LARGER IN PLANTED AREA THAN 2024 Mainly in leased farms in Argentina GOOD CLIMATE CONDITIONS IN THE REGION, DESPITE IRREGULAR FREQUENCY. Argentina with late and scattered rains in the North impacting yields. Good weather in Center & South STABLE INTERNATIONAL COMMODITY PRICES & INPUT COSTS Argentina with a positive impact on prices due to the temporary reduction of grains’ tax exports PARTIAL REMOVAL OF CAPITAL CONTROLS IN ARGENTINA Convergence of the official and financial exchange rates BRASILAGRO GOOD PRODUCTIVE RESULTS IN SUGARCANE AND MIXED IN CROPS Sustained prices, inputs downtrend and margin improvement in BRL (devaluation effect) REAL ESTATE 9M25: FRACTION SALES OF LOS POZOS (ARG) & ALTO TAQUARI (BZ) There were no farmland sales during IIQ 25 and IIIQ 25 2 3 4 1 5 6 2
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FY 2025 – Regional Planted Area 139 129 119 123 119 140 101 106 109 109 120 125 14 13 14 12 7 610 11 13 12 11 1214 24 24 28 21 17 197 226 220 220 217 181 213 208 262 278 283 279 283 277 300 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25E Bolivia Paraguay Leased to 3rd parties Brazil Argentina +8% Planted Area Evolution (Th. Ha) Crop Breakdown 50% 24% 9% 5% 12% SOYBEAN CORN SUGARCANE WHEAT OTHERS 3
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826 1769 941,25 1041 307 801 362 463 0 200 400 600 800 1000 1200 1400 1600 1800 2000 Slight recovery of Commodity Prices and Inputs Costs Correction BOOM POST-COVID & RUS/UKR WAR Downtrend (2H23) SOYBEAN CORN USD cents per bushel -39% -41% +28% +11% +161% +112% Apr 30, 2025 YOY Last Month SOYBEAN -9.2% 2.5% CORN 5.2% 1.1% 4
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Argentine FX Evolution 5 164,5% 21,9% 366 800 BRECHA CCL OFICIAL BLUE CHIP SWAP OFFICIAL FX FX GAP 130% FX devaluation FX CONVERGENCE April 11, 2025 Partial Elimination of Capital Controls and FX Convergence