SLC Agrícola (SLCE3) Investor presentation summary

Market overview and crop year outlook

• Soybean prices for May 2026 are at $11.59/bu, with a forecasted US planted area down 7% but yield up 4.5% for 2025/26 vs 2024/25; global supply and demand remain tight.

• Corn prices for May 2026 are at $4.62/bu, with US planted area up 8.7% and yield up 4.0% for 2025/26; production and consumption gaps persist.

• Cotton prices for June 2026 are at 71.7 cents/lb, with US planted area down 17% and yield down 3.4% for 2025/26.

• Planted area is expected to grow 13.8% in 2025/26, reaching 837,000 ha, with significant increases in soybean, cotton, and corn areas.

• Weather forecasts indicate a higher probability of El Niño conditions through mid-2026, impacting precipitation patterns.

Mergers, acquisitions, and land strategy

• Acquired Sierentz (100k ha) for USD 129M, with 60% paid in 2025; spun off 63k ha for R$191.2M.

• Land acquisitions include Paladino Farm (39,987 ha, BA) at a 34% discount and Unai Farm (7,835 ha, MG) at a 50% discount.

• Mitsui minority stake acquired for R$103M, adding 27k ha to the controller result.

• Joint venture with FIPS for Piratini Farm and irrigation, with R$1.033 billion invested and 28k ha to be irrigated.

• Irrigation projects will increase irrigated area by 70%, focusing on Bahia state.

Financial performance and debt

• Adjusted net debt rose to R$5.24B in 2025, with net debt/EBITDA at 1.97x.

• Adjusted EBITDA reached R$2.67B in 2025, with a margin of 31%; net profit was R$482M with a 7% margin.

• Debt profile is 22% short-term and 78% long-term, with R$2.65B in cash.