Slides
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3 Cenário Cenário 2026 RESULTS R$ 926.7 Net Revenue Million R$ 99.3 Ajusted EBITDA Million R$ 90.0 Net Loss Million 426.4 thousand t Produ ction | grains and cotton + 1 6 % vs. 24/25 Harvest Year 166.9 thousand ha Planted Area - 4% vs. 24/25 Harvest Year R$ 3.3 billion Portfolio Value + 8% vs. 24/25 Harvest Year
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4 Portfolio Assessment Portfolio Valuation Historical Evolution + 39,2 + 9,7 109,0 2024/25 Valuation Land appreciation Land maturation Price effect (soybean and FX) Land repossession (Rio do Meio contract rescission) 25/26 Total Portfolio R$ million From R$3.0 9 billion to R$3.34 billion , with R$143.0 million from the appreciation of the land areas 3,09 bi +94,4 3,34 bi +143,0 3,3 3,1 2,9 3,1 3,3 - 3,6 - 3,5 - 22.070,7 21.992,8 22.113,1 25.923,4 27.404,3 22.948,4 25.465,4 25.465,4 29.596,0 29.596,0 21/22 22/23 23/24 24/25 25/26 Internal (R$ bi) Deloitte (R$ bi) R$/ha (internal) R$/ha (Deloitte)
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5 Cenário Milho - BM&FBOVESPA 58,22 67,95 Cotton – FUTURO NY 65,06 89,92 Cattle Raising – BOI GORDO 304,15 343,35 Ethanol – HYDRATED FUTURO B3 2.758,00 2.425,00 Sugarcane – AÇÚCAR FUTURO NY 17,05 17,56 +17% +38% +13% - 12% 3% Soybeans - PARANAGUÁ 134,56 159,76 19% Cenário Scenario Corn - BM&FBOVESPA +13% COMMODITY PERFORMANCE | JUN/25 – AUG/26 62,95 71,38
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26/27 HARVEST 6 Average Price BrasilAgro 35,01 15,42 29,24 21,22 25/26 HARVEST: 308,00 USD/Ton 26/27 HARVEST: 379,00 USD/Ton 25/26 HARVEST: 394,00 USD/Ton Cenário Cenário SCENARIO INPUTS PRICE INPUT PURCHASING STATUS | AUG/26 EXCHANGE RATIO | SCS/TON 25/26 HARVEST: 643,00 USD/Ton 26/27 HARVEST: 745,00 USD/ ton 26/27 HARVEST: 479,00 USD/Ton 21,49 27,60 11,39 12,58 12,04 14,00 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 578 845 25/26 Purchase 26/27 Purchase 310 385 25/26 Purchase 26/27 Purchase 328 435 25/26 Purchase 26/27 Purchase +33% MAP BRASIL (USD/TON) KCL BRASIL (USD/TON) UREA US GOLF (USD/TON) +46% +24% 71% 70% 78% 69% Potassium chloride Phosphates NPK - Formulated Defensives UREA 72% 28% Purchased Open 90% 2nd Crop