SLC Agrícola (SLCE3) Investor presentation summary

Market overview and crop year outlook

• Soybean, corn, and cotton prices for 2025/26 are forecasted with moderate fluctuations; soybean at $11.59/bu (May 2026), corn at $4.62/bu (May 2026), and cotton at 71.7 cents/lb (June 2026).

• US soybean planted area is expected to decrease by 7%, while yield increases by 4.5%; corn area up 8.7% and yield up 4%.

• Planted area is projected to grow 13.8% to 837,000 ha in 2025/26, with soybean, cotton, and corn areas all increasing.

• Yield improvements are budgeted for all major crops, with cotton lint, soybean, and corn 2nd crop yields rising 1.2–3.8%.

• Fertilizer input costs and exchange ratios are closely monitored, with 100% of fertilizer needs already secured.

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.

• Partnership with FIPS for Piratini Farm and irrigation infrastructure, with R$1.033B subscription.

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

Financial performance and capital structure

• 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 at R$938M.

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

• Dividend payments totaled R$400M (R$0.90/share), with a 5.6% yield; share buyback program approved for 10M shares.