Slides
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Maximizing Agricultural Potential FY 2026 Conference Call September 8, 2026 Hosted by: Alejandro Elsztain, CEO Matias Gaivironsky, CFO Santiago Donato, Head of IR & ESG
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Main Events for FY 26 2026 Campaign Concluded with Record Grain & Cattle Production Larger Area, both in Owned and Leased Farms + Favorable weather conditions overall, except for some regions Rising Commodity Prices and Input Costs Reduction in export taxes supported prices in Argentina. Global Geopolitical Context Boosted Fertilizer and Fuel Costs Argentina: Strong Crop Production Results Record wheat production and strong soybean & corn yields, supported by favorable weather conditions BrasilAgro: Challenging Campaign, Mainly in Sugarcane (due to climate, fires and operational issues) Other Crops Performed in Line with Expectations, Although with Tighter Margins Livestock: Record Cattle Prices, Margins and Production Ongoing intensification through feedlots in Salta and La Pampa Real Estate: First Sale of Productive Lots in Los Pozos (Argentina): 3,500 ha for USD 6.1M Not recognized in the FS (deed execution and transfer of possession expected in Jun-28). Morotí (Paraguay) partial sale recognized in FY26. USD 256 Million Notes Issuance in the Local Capital Market Reducing the average financing cost for the company and extending maturities ARS 93.8 Billion Distributed in Dividends Representing an approximate 8% Dividend Yield 2 3 4 1 5 6 2 7 8
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139 129 119 123 119 139 154 101 106 109 109 120 123 121 14 13 14 12 7 6 6 10 11 13 12 11 12 11 14 24 24 28 21 18 21 197 226 220 220 217 181 213 208 262 278 283 279 283 277 299 314 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 25 FY 26 FY 2026 – Regional Planted Area Bolivia Paraguay Leased to 3rd parties Brazil Argentina +4.9% Planted Area Evolution (Th. Ha) Crop Breakdown 50% 28% 9% 6% 8% SOYBEAN CORN SUGARCANE WHEAT OTHERS 3
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200 400 600 800 1.000 1.200 1.400 1.600 1.800 2.000 2.200 2.400 Soja Real Soja Nominal Maiz Real Maiz Nominal Commodity Price Trends – Nominal & Real Terms BOOM POST-COVID & RUS/UKR WAR SOYBEAN CORN USD cents per bushel 4 Aug 31, 2026 Since IIIQ26 Nominal Δ YOY Nominal Δ SOYBEAN +8.8% +24.2% CORN +12.2% +31.9% Soybean Real Terms Soybean Nominal Terms Corn Real Terms Corn Nominal Terms