Deere & Company · NYSE:DE
Deere & — Investor Day (June 2025)
20 slides from Deere &'s investor day presentation, Jun 10, 2025
Slide 1: Investor Day Brazil 2025: Sugarcane Production System
INVESTOR DAY BRAZIL 20 25 Sugarcane Production System
Slide 2: Brazil Sugarcane Business
BRAZIL OUR SUGARCANE SOLUTIONS CUSTOMERS BUSINESS John Deere is a market leader in the sugarcane production system, investing in hard iron and advanced technology to drive innovative solutions for Brazilian growers
Slide 3: Brazil Sugarcane Business
. BRAZIL OUR SUGARCANE SOLUTIONS CUSTOMERS BUSINESS John Deere is a market leader in the sugarcane production system, investing in hard iron and advanced technology to drive innovative solutions for Brazilian growers
Slide 4: Sugarcane production is an important commodity for a wide variety of end markets in Brazil
Sugarcane production is an important commodity for a wide variety of end markets in Brazil SUGAR ETHANOL BIOELECTRICITY >98% of Brazil’s production ~80% of Brazil’s feedstock ~5% of Brazil’s electricity from sugarcane from sugarcane from sugarcane biomass Source: OECD-FAO Agricultural Outlook 2023-2
Slide 5: Brazil is the world's largest cane and sugar producer
Brazil is the world’s largest cane and sugar producer ~35% ~50% ~25% +20% Global Global Global Growth Sugarcane Sugar Ethanol Next 10 yrs Production Exports Production Source: OEC; FAOSTAT; Alternative Fuels Data Center; USDA; Carlos Cogo Intelligence
Slide 6: Sugarcane and Corn will supply the growing demand for renewable fuel in Brazil
Sugarcane and Corn will supply the growing demand for renewable fuel in Brazil 50 Brazil’s Ethanol Consumption 45 (billion liters) 40 35 30 25 20 15 10 5 0 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 '34 ✓ BLEND MANDATE INCREASES (27% → 30%) ✓ FAVORABLE TAX PO
Slide 7: Brazil is well positioned to supply the world's growing sugar demand
Brazil is well positioned to supply the world’s growing sugar demand Global Sugar Stocks-to-Use Sugar Production Costs (ending stocks over annual consumption) (US$ cents/Ib) 23.5 50% 21.4 21.0 20.8 19.3 40% Breakeven 16.3 Price¹ (~17.0) 30% 20% 10% 0% '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22
Slide 8: Brazil's sugarcane production has grown consistently over time
Brazil’s sugarcane production has grown consistently over time Degraded pasture was replaced by sugarcane to meet the growing demand for sugar and ethanol 690 MMT 605 MMT 257 MMT +1% CAGR 12 M ac 18 M ac 21 M ac ~2x Area Growth 2000 2010 2025E 2035E ~3x Production Growth Area Production 2000-2025 So
Slide 9: Brazil Sugarcane Business
BRAZIL OUR SUGARCANE SOLUTIONS CUSTOMERS BUSINESS
Slide 10: Average annual production cost cane
TILLAGE AVERAGE ANNUAL PRODUCTION COST 5-7 YEAR PLANTING CROP CYCLE CANE SG&A Planting Land 5% 19% PRODUCTION 19% SYSTEM ANNUAL CYCLE NUTRITION PROTECT HARVEST Harvest Crop Care 27% 30% Source: John Deere Model Farm
Slide 11: Customers we serve
Customers we serve Top 10 represent 34 Mills 11 Mills 85M tons 32M tons ~40% of Brazil’s total cane production Top 4 represent 8 Mills 7 Mills ~25% of Brazil’s total cane production 38M tons 22M tons Source: Public information; Company websites
Slide 12: Overview of a typical sugarcane mill
Overview of a typical sugarcane mill 3.5M tons / season 17k tons / day Harvest 24/7 during 8-month season 100+ sugarcane harvesters & tractors
Slide 13: Customer Value Drivers
COST / TON Customer YIELD (TON / ACRE) Value Drivers SUSTAINABLE OPERATION
Slide 14: Brazil Sugarcane Business
BRAZIL OUR SUGARCANE SOLUTIONS CUSTOMERS BUSINESS
Slide 15: Deere has led the mechanization process through technology and innovation
Deere has led the mechanization process through technology and innovation 1998 1999 2008 2012 2019 2021 1st Sugarcane Catalão Tractors Sprayers Sugarcane CH950 Harvester Factory 180—200hp Parts
Slide 16: Deere solutions deliver value across the sugarcane production system
Deere solutions deliver value across the sugarcane production system 7M 230M Biomass Tractor Sprayer Pro Controlled Traffic Operations Center • ATIG • AutoPath • Machine Sync JDLink Boost for all Large Ag Products
Slide 17: Fueling the future: Ethanol is a game-changer for sustainable farming
Fueling the future Ethanol is a game-changer for sustainable farming Soy & Corn Farmer Sugarcane Farmer ▪ 20,000-acre, double crop operation ▪ 20,000-acre operation ▪ Avg. fuel cost / acre: $30-$45 ▪ Avg. fuel cost / acre: $40-$70 ▪ Fuel cost / season: $600k - $900k ▪ Fuel cost / season: $800k - $1.
Slide 18: Leading the ethanol evolution on the farm
Leading the ethanol evolution on the farm Deere presented its first ethanol engine prototype during Agrishow 2025 Customer Benefits Circular Economy ▪ Reduces fuel costs ▪ Grow sugarcane or corn ▪ Minimizes carbon footprint ▪ Process into ethanol ▪ Increases sustainable operations ▪ Consume directly
Slide 19: Ethanol, SaaS and sugarcane vision 2030
Ethanol Industry leading SaaS Expand new solutions business model Vision Sugarcane 100+ 30% 2030 Tons per hectare Cost per ton (40+ tons per acre) reduction (2024 baseline)
Slide 20: John Deere
(&) JOHN DEERE