Boa Safra Sementes (SOJA3) investor relations material

Executive summary

• Achieved record production capacity of 280,000 big bags, supporting a robust order backlog and expansion into new regions and business lines, including SBS Green Seeds and southern Brazil.

• Diversified portfolio with strong growth in non-soybean crops and services, now representing 12% of revenue, and a record R$52 million order book for other crops.

• Maintained strong liquidity and conservative capital allocation, focusing on asset-light expansion, working capital optimization, and reduced CapEx.

• Order portfolio is more diversified and less concentrated, with over 200% growth in advanced customer payments and a R$1.68 billion order backlog.

• Focused on quality, efficiency, and expanding market presence, with over 1,000 reseller visits and a broad portfolio of 80+ soybean varieties.

Financial highlights

• Net operating revenue for 2Q25 was R$125.1 million, up 42.9% year-over-year; LTM net revenue was R$1.94 billion, down 2.2%.

• Gross margin improved to 37.7% in 2Q25 from 36.0% in 2Q24; gross profit for 2Q25 was R$47.2 million, up 49.7% year-over-year.

• Net profit for 2Q25 was R$24.8 million, up 37% year-over-year; LTM net income was R$176 million, down 50.7%.

• Adjusted EBITDA for 2Q25 was R$10.5 million (up 45.4%); LTM adjusted EBITDA was R$187.2 million (down 26.8%).

• Operational cash flow improved by 21% year-over-year, despite 40% production growth.

Outlook and guidance

• Entered the 2025/26 crop year at full production capacity, focusing on converting robust order backlog into sales and maintaining quality standards.

• Continued focus on portfolio diversification, operational efficiency, and expansion into new crop segments and regions.

• No formal guidance provided; capital allocation decisions are made annually based on market conditions and board discussions.