Slc Agricola S.a. · BMFBOVESPA:SLCE3
Slc Agricola — Q3 2025 Earnings Presentation
31 slides from Slc Agricola's earnings presentation, Nov 7, 2025
Slide 1: 3Q25 Earnings Conference Call
3Q25 - Earnings Conference Call Material Fact - Association Agreement SLC Agrícola and FIPS Speakers: Aurélio Pavinato - CEO Ivo Brum – Chief Financial and IR Officer André Vasconcellos – Financial Planning and IR Manager
Slide 2: Escolha do idioma + Q&A
Faça sua pergunta Escolha do idioma + Q&A Tradução Simultânea Simultaneous Translation Ask your question Essa videoconferência será em português, The following presentation will be held in com tradução simultânea para o inglês. Portuguese, with simultaneous translation to English. Alteração de Idiom
Slide 3: Market Overview
Market Overview Cultivar & Evoluir £3 SLC acricoLa
Slide 4: Market Overview: Cotton
4 MARKET OVERVIEW Cotton Price World supply & demand (million bales) (ICE) SPOT Dec 25 - U$ cents\pd 65.23 -16.8% US planted area | -2.8% US Yield (ICE) Mar 26 – U$ cents\pd 66.40 140 2025/26 vs 2024/25 70,0 (ICE) May 26 - U$ cents\pd 67.57 130 118.5 124.5 115.0 119.2 117.7 60,0 (ICE) Jun 26 - U$ ce
Slide 5: Market Overview: Soybean
5 MARKET OVERVIEW Soybean Price World supply & demand (million tons) -6.9% US planted area | +5.5% US Yield (CBOT) SPOT Nov 25 - USD\bu 11.19 2025/26 vs 2024/25 (CBOT) Mar 26 - USD\bu 11.42 424.2 425.9 (CBOT) May 26 - USD\bu 11.50 396.4 (CBOT) Jun 26 – USD\bu 11.57 360.0 369.6 378.2 423.9 366.3 410.
Slide 6: Market Overview: Corn
6 MARKET OVERVIEW Corn Price World supply & demand (million tons) (CBOT) SPOT Dec 25 - USD\bu 4.35 +8.9% US planted area | +4.1% US Yield (CBOT) Mar 26 - USD\bu 4.49 2025/26 vs 2024/25 1,286.6 1,220.3 1,231.1 1,249.4 (CBOT) May 26 – USD\bu 4.58 1,133.8 1,152.9 1,165.6 1,280.9 (CBOT) Jun 26 – USD\bu
Slide 7: Closing 2024/25 Crop Year
Closing 2024 Crop Year £3 SLC acricoLa
Slide 8: Yields (kg/ha)
8 Closing 2024/25 Crop Year Yields (kg/ha) Soybean Cotton Lint Corn (avg. 1st and 2nd crop) +9.3% vs. budget +26.8% vs. national avg. 8,243 7,542 -0.3% vs. budget 6,499 +9.4% vs. national avg. -3.3% vs. budget 3,976 3,622 3,964 -2.0% vs. national avg. 1,980 1,954 1,914 Budget Achieved Budget Achieve
Slide 9: Unit Cost (Kg/ha)
9 Closing 2024/25 Crop Year Unit Cost (Kg/ha) Yield Cost Cost Yield Cost Cost ∆% Achieved Achieved Achieved Achieved Achieved Achieved bxa Crop mix (Kg/ha) (R$/ha) (R$/Kg) (Kg/ha) (R$/ha) (R$/Kg) 2023/24 2023/24 2023/24 (a) 2024/25 2024/25 2024/25(b) Cotton lint 1st crop 1,995 13,967 7.00 1,831 14,1
Slide 10: Hedge Position
10 Closing 2024/25 Crop Year Hedge Position 2023/24 – 2024/25 FX Hedge – Soybean Commercial Hedge – Soybean Crop Year 2023/24 2024/25 Crop Year 2023/24 2024/25 % 100.0 99.7 % 100.0 99.7 R$/USD 5.2377 5.6244 USD/bu 12.35 11.48 Commitments % - - Commitments % - - FX Hedge – Cotton Commercial Hedge – C
Slide 11: Financial Performance
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Slide 12: Financial Highlights
12 Financial Performance Financial Highlights (R$ thd) 9M24 9M25 HA 3Q24 3Q25 HA Net revenue 4,940,389 6,280,882 27.1% 1,631,878 2,087,705 27.9% Gross income 1,756,365 2,354,654 34.1% 279,087 622,572 123.1% Gross margin 35.6% 37.5% 1.9p.p. 17.1% 29.8% 12.7p.p. Operational result 1,246,635 1,603,380
Slide 13: Net Debt
13 Financial Performance Net Debt (R$ thd) Average Interest Rate (%) Consolidated Period 4Q24 3Q25 4Q24 3Q25 Total Indebtedness 13.1% 15.3% 5,624,631 7,733,389 (+/-) Gains and losses with deriv. connected with applications and debt 30,809 165,128 (=) Adjusted Gross Debt 5,655,440 7,898,517 (-) Cash
Slide 14: Debt profile and schedule
14 Financial Performance Debt profile and schedule 1,722,306 Term 1,502,287 1,328,800 1,239,608 69% 1,137,754 1,049,470 806,838 31% 432,458 401,303 Short Short Term Term Long Term Long Term Cash 2025 2026 2027 2028 2029 2030 2031 After Source: 3Q25 Release 2031
Slide 15: 2025/26 Crop Year
x 2025/26 Crop Year £3 SLC acricoLa
Slide 16: 2025/26 Planted area
16 2025/26 Crop Year 2025/26 Planted area Planted Area Planted Area Planted Area Material Fact Forecast Share Δ% Δ% Achieved (a) 10/02/2025 (b) 3Q25 (c) Crop Mix 2024/25 2025/26(1) 2025/26(1) 2025/26 cxa cxb ha % Cotton 178,803 199,714 198,657 23.8% 11.1% -0.5% Cotton lint 1st crop 95,460 103,334 10
Slide 17: 2025/26 Crop year status
17 2025/26 Crop Year 2025/26 Crop year status Soybean 62.3% planted Cotton Planting not started Corn Planting not started Last Update: November, 4th 2025
Slide 18: Yields 2025/26 Crop year (kg/ha)
18 2025/26 Crop Year Yields 2025/26 Crop year (kg/ha) 2024/25 Crop 2025/26 Crop ∆% Yield (kg/ha) Year Year Budget (a) Budget (b) (b) x (a) Cotton lint 1st crop 2,041 2,066 1.2% Cotton lint 2nd crop 1,910 1,982 3.8% Cottonseed (cottonseed + cotton seed) 2,431 2,491 2.5% Soybean (commercial + seed) 3,
Slide 19: Cost per hectare
19 2025/26 Crop Year Cost per hectare Budget Budget Total (R$/ha) ∆% 2024/25 2025/26 Cotton lint 1st crop 12,876 13,846 7.5% Cotton lint 2nd crop 11,663 12,849 10.2% Soybean (commercial + seed) 4,659 5,181 11.2% Corn 2nd crop 3,967 4,346 9.5% Total average cost 6,456 7,082 9.7% Source: 3Q25 Release
Slide 20: Hedge Position
20 2025/26 Crop Year Hedge Position 2024/25 – 2025/26 FX Hedge – Soybean Commercial Hedge – Soybean Crop Year 2024/25 2025/26 Crop Year 2024/25 2025/26 % 99.7 34.9 % 99.7 48.4 R$/USD 5.6244 5.9232 USD/bu 11.48 11.02 Commitments % - 29.4 Commitments % - 11.8 FX Hedge – Cotton Commercial Hedge – Cotto
Slide 21: Sales estimate 2026
21 2025/26 Crop Year Sales estimate 2026 (bags of 200 thousand seeds) Soybean Cotton 1,800,000 1,400,000 1,211,455 1,020,575 856,000 685,100 437,778 129,950 143,759 145,000 157,000 80,180 116,471 19,000 2020 2021 2022 2023 2024 2025* 2026* Source: 3Q25 Release *Forecast
Slide 22: Irrigation
Irrigation • Initial project released
Slide 23: Initial irrigation project (ha)
23 Irrigation Initial irrigation project (ha) +231.9% Upcoming years 53,180 +21.0% +33,795 2025/26 16,025 19,385 +3,360 Current irrigated Irrigation implemention Piratini Farm area 2024/25 upcoming years Source: Material Fact in July 9th, 2025.
Slide 24: Association SLC Agrícola x FIPs
Association SLC Agrícola x FIPs • Strategy • Structure • Project location and schedule
Slide 25: Strategy
25 Association SLC Agrícola x FIPs Strategy Monetizing the land Agricultural at market price. partnership agreement Payment: Maximizing 19% of agricultural operational production efficiency through irrigation projects. Term: 18 years
Slide 26: Association Agreement
26 Association SLC Agrícola x FIPs Association Agreement * 50.01% 49.99% FIPs Subscription of Piratini Farm and irrigation R$1,034 billion infrastructure *BTG Pactual Serviços Financeiros S.A. Distribuidora de Títulos e Valores Mobiliários
Slide 27: Irrigation project and location
27 Association SLC Agrícola x FIPs Irrigation project and location +70.07% increase in irrigated area ➢ Piratini: 31,256 compared to the physical area. ➢ Paladino: 36,201 67,457 ➢ Piratini: 18,052 Paladino – São Desidério PD BA ➢ Paladino: 21,471 PI ➢ Piratini: 13,204 Piratini – Jaborandi 39,523 ➢ P
Slide 28: Our Big Dream
Our Big Dream To positively impact future generations, through global leadership in agribusiness and respect to the planet. Our values We believe that those who have passion for what they do are committed and do it with the highest quality, preserving their integrity through an ethical conduct, cons
Slide 29: Investor Relations Department
Investor Ivo Marcon Brum Relations Chief Financial and Investor Relations Officer Department André Vasconcellos Financial Planning and Investor Relations Manager + 55 51 3230.7797 Alisandra Reis ri@slcagricola.com.br Investor Relations Coordinator slcagricola.com.br Daniel Batista Laiza Rocha Invest
Slide 30: Disclaimer
Disclaimer We make forward-looking statements “believes”, “may”, “will”, “continues”, that are subject to risks and “expects”, “anticipates”, “intends”, uncertainties. These statements are “plans”, “estimates” or similar based on the beliefs and assumptions expressions. Forward-looking statements of
Slide 31: SLC Agrícola – Cultivate & Evolve
&> SLC aGrRicoLa Cultivate & Evolve