Adecoagro S.a. · NYSE:AGRO
Adecoagro — Investor Presentation (April 2026)
16 slides from Adecoagro's investor presentation, April 2026
Slide 1: Adecoagro: A Sustainable Development Model
ADECOAGRO A S U S T A I N A B L E DEVELOPMENT MODEL
Slide 2: Index
INDEX 1 WHO WE ARE 2 OUR BUSINESS SEGMENTS 3 OUR FINANCIAL PERFORMANCE 2
Slide 3: Who We Are
GS adecoagro
Slide 4: Food & Agriculture Business: A Diversified Agro-Industrial Platform
A DIVERSIFIED AGRO-INDUSTRIAL PLATFORM SUGAR, ETHANOL SUGAR, ETHANOL & ENERGY TOTAL SALES 2025 & ENERGY BUSINESS • 3 Sugar & Ethanol Mills • +220 thousand hectares of sugarcane US$2,016 MILLION1 • 14.2 million tons of sugarcane crushing capacity • +1 million MWh renewable energy produced per year •
Slide 5: With Real Assets in Argentina, Brazil and Uruguay
WITH REAL ASSETS IN ARGENTINA, BRAZIL AND URUGUAY AGRO’S ASSETS ARGENTINA Angélica Mill Monte Alegre Mill Ivinhema Mill ASSETS $5.2 BILLION1 Takuaré Ouro Verde Bela Manha Industrial Assets Other Non-Current Assets Sapalio Los Guayacanes Agua Blanca $1,855 million La Garrucha Don Fabrizio Nossa Senho
Slide 6: And a Strong Operational Track Record
AND A STRONG OPERATIONAL TRACK RECORD +10,500 EMPLOYEES ADECOAGRO’S PERFORMANCE EVOLUTION 4,411 4,033 Total Production (‘000 tons) Total TRS Equivalent Produced (‘000 tons) Food & Agriculture Production (‘000 tons) $ 2,143 3,079 3,073 $ 2,016 Urea Production (‘000 tons) Area under management (‘000 h
Slide 7: Adecoagro's Equity
AGRO’S EQUITY SHARE PRICE PERFORMANCE AGRO OWNERSHIP (%) (*) Max Top 10 Shareholders $ 16 Holder Name % O/S $ 14 Tether 74.3% Management & Directors 3.5% AGRO Price ($/share) $ 12 PGGM Investments 2.8% Tether, the creator of the $ 10 Sparta 24 Ltd 1.5% largest stablecoin (USDT), Discovery Capital Mg
Slide 8: Our Business Segments
OUR BUSINESS SEGMENTS €& & adecoagro
Slide 9: Our Business Segments
OUR BUSINESS SEGMENTS BRAZIL ARGENTINA ARGENTINA & URUGUAY SUGAR, ETHANOL & FERTILIZERS FOOD & ENERGY AGRICULTURE 9
Slide 10: Fully Integrated Low-Cost Sugar, Ethanol & Energy Producer
FULLY INTEGRATED LOW-COST SUGAR, ETHANOL & ENERGY PRODUCER Brazil SUGARCANE CRUSHED (MILLION TONS) & YIELD EVOLUTION (TON/HA) Sugarcane crushed Yield 12.5 12.8 12.1 11.1 10.9 10.5 79 80 69 67 70 68 12,200 Nm3/day +7,000 employees of biomethane 2020 2021 2022 2023 2024 2025 +220,000 hectares 246 MW S
Slide 11: Fertilizer Producer Positioned to Capture Argentina's Oil & Gas Upside
FERTILIZER PRODUCER POSITIONED TO CAPTURE ARGENTINA’S OIL & GAS UPSIDE Argentina Used for ~$677 MM USD PROFERTIL’S GAS SOURCES & OWN ASSETS ~790 k Tons ~1.3 MM Tons AVG. Annual ~$295 MM USD Nominal Ammonia Urea Capacity AVG. EBITDA Revenues Capacity (2023-2025) (2023-2025) CUENCA NOROESTE ARGENTINA
Slide 12: One of the Largest Producers of Crops, Rice & Dairy Products
ONE OF THE LARGEST PRODUCERS OF CROPS, RICE & DAIRY PRODUCTS Argentina & Uruguay CROPS RICE DAIRY Producer of soybean, corn, wheat, peanut and Largest integrated producer of rice in Largest producer of raw milk in Argentina sunflower South America Farms concentrated in Argentine’s Humid More than 60
Slide 13: Our Financial Performance
OU R FINANCIAL PERFORMANCE 13
Slide 14: Financial Highlights
FINANCIAL HIGHLIGHTS GROSS SALES (US$ MILLIONS) 2025 SALES BREAKDOWN BY PRODUCT (%) – PRO FORMA1 31% 2% 30% 50% 51% 47% 50% 48% 33% 45% 33% Rice 11% 50% 49% 53% 50% 52% 36% 52% 37% Fertilizers 30% $ 2,143 $ 2,016 Dairy 14% $ 1,442 $ 1,476 $ 1,446 $ 1,352 $ 1,098 $ 822 Energy 2% Soybean 4% Corn 2% Wh
Slide 15: Disciplined Capital Allocation Strategy
DISCIPLINED CAPITAL ALLOCATION STRATEGY EXPANSION CAPEX (US$ MILLIONS) SHAREHOLDER DISTRIBUTION (US$ MILLIONS) $ 1,189 SE&E Food & Agriculture Fertilizers Total Dividends Buyback Total $ 102 $ 789 $ 72 $ 35 $ 66 $ 1,076 $ 61 $ 35 $ 45 $ 676 $ 35 $ 67 $ 35 $ 104 $ 57 $ 58 $ 71 $ 67 $ 37 $ 39 $ 28 $ 2
Slide 16: Thank You!
& adecoagro THANK YOU!