Slide 1: Adecoagro 2nd Quarter 2026 Earnings Webcast
ADECOAGRO 2 ND Q U A R T E R 2 0 2 6 E A R N I N G S W E B C A S T 1
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements that are based on our current expectations, assumptions, estimates and projections about us and our industry. These forward-looking statements can be identified by words or phrases such as “anticipate,” “forecast”, “believe,” “continue
Slide 3: Adecoagro 6M26 Key Takeaways
ADECOAGRO 6M26 KEY TAKEAWAYS Record Adjusted EBITDA in 2Q26 and 6M26. Higher diversification and scale drive greater earnings potential. Fertilizers: Stronger production and higher prices. Further margin expansion supported by costs efficiencies. SE&E: Greater cane availability drives crushing growt
Slide 4: Consolidated Financial Highlights
CONSOLIDATED FINANCIAL HIGHLIGHTS Gross Revenues Adjusted EBITDA 2Q26 Food & Agriculture 3% 2Q26 $535 million $173 million Sugar, (2%)(1) 52%(1) Sugar, Ethanol & Food & Ethanol & Energy Agriculture Energy 25% 40% 30% Fertilizers Fertilizers 67% 35% Gross Revenues Adjusted EBITDA Food & Agriculture 2
Slide 5: Sugar, Ethanol & Energy Segment
SUGAR, ETHANOL & ENERGY SEGMENT
Slide 6: Sugar, Ethanol and Energy Segment Operational & Financial Performance
SUGAR, ETHANOL AND ENERGY SEGMENT OPERATIONAL & FINANCIAL PERFORMANCE Sugarcane milled Production Mix Higher crushing in 2Q26 & 6M26. Greater cane (‘000 Tons) (%) availability driven by yield recovery. TRS per hectare (kg/hectare) Sugar Ethanol 8,912 (4%) 9,146 8,589 19% 7,661 +17% 78% ethanol mix Y
Slide 7: Fertilizers Segment
FERTILIZERS SEGMENT 7
Slide 8: Fertilizers Segment Operational & Financial Performance
FERTILIZERS SEGMENT OPERATIONAL & FINANCIAL PERFORMANCE Urea Production Urea Sales (thousand tons) (thousand tons) Average Realized Price ($/Ton) $ 699 +57% $ 620 +16% $ 444 $ 444 +40% 617 (7%) +22% 533 (28%) 433 Stronger urea production year-to-date on 404 317 higher operational days and greater ut
Slide 9: Food & Agriculture Segment
FOOD & AGRICULTURE SEGMENT 9
Slide 10: Food & Agriculture Segment Operational & Financial Performance
FOOD & AGRICULTURE SEGMENT OPERATIONAL & FINANCIAL PERFORMANCE Gross Sales (US$ millions) (6%) Concluding 2025/26 harvest season with better-than- $399 $376 historical grain productivity. 6% - $201 $213 Higher milk processing volumes on greater cow productivity. 2Q25 2Q26 6M25 6M26 Lower commodity p
Slide 11: Capital Allocation
CAPITAL ALLOCATION 11
Slide 12: Expansion Capex
EXPANSION CAPEX $456 MILLION INVESTED IN GROWTH PROYECTS YEAR-TO-DATE MAIN INVESTMENT = SETTLEMENT OF THE OUTSTANDING BALANCE FOR PROFERTIL’S ACQUISITION FINAL PAYMENT FOR PROFERTIL $402 million balance paid in 1Q26 $676 million canceled in 2025 $1.1 BILLION TOTAL INVESTMENT FOR A 90% EQUITY INTERES
Slide 13: Indebtedness
INDEBTEDNESS Deleveraging progress despite WK seasonality Net Debt Evolution (US$ millions) and higher inventories $ 2,500 3.3x 3.2x 3.5x Net Debt Net Debt/Adj. EBITDA LTM 3.0x 2.8x 3.0x $ 2,000 2.3x $ 1,628 $ 1,687 2.5x $ 1,520 $ 1,500 1.7x 2.0x 1.5x 1.3x 1.3x $ 1,000 1.2x $ 872 1.5x $ 639 $ 632 $
Slide 14: Q&A Session
Q&A SESSION 14
Slide 15: Thank You!
THANK YOU! Website: ir.adecoagro.com Emilio Gnecco - CFO Victoria Cabello - IRO Investor Relations Department egnecco@adecoagro.com vcabello@adecoagro.com ir@adecoagro.com