Dados Econômico-Financeiros

(A free translation of the original in Portuguese)

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

(A free translation of the original in Portuguese)

To the Board of Directors and Shareholders BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

We have reviewed the accompanying parent company and consolidated interim accounting information of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas ("Company"), included in the Quarterly Information Form (ITR) for the quarter ended December 31, 2025, comprising the balance sheet at that date and the statements of operations and comprehensive income for the quarter and six-month periods then ended, and the statements of changes in equity and cash flows for the six-month period then ended, and explanatory notes.

Management is responsible for the preparation of the parent company and consolidated interim accounting information in accordance with the accounting standard CPC 21 - "Interim Financial Reporting", of the Brazilian Accounting Pronouncements Committee (CPC) and International Accounting Standard (IAS) 34 - "Interim Financial Reporting" issued by the International Accounting Standards Board (IASB), as well as the presentation of this information in accordance with the standards issued by the Brazilian Securities Commission (CVM), applicable to the preparation of the Quarterly Information (ITR).

Our responsibility is to express a conclusion on this interim accounting information based on our review.

We conducted our review in accordance with Brazilian and International Standards on Reviews of Interim Financial Information (NBC TR 2410 - "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", and ISRE 2410 - "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Based on our review, nothing has come to our attention that causes us to believe that the accompanying parent company and consolidated interim accounting information included in the quarterly information referred to above has not been prepared, in all material respects, in accordance with CPC 21 and IAS 34 applicable to the preparation of the Quarterly Information, and presented in accordance with the standards issued by the CVM.

https://www.pwc.com.br

PricewaterhouseCoopers Auditores Independentes Ltda. Avenida Brigadeiro Faria Lima, 3732, Edifício B32, 16o, São Paulo, SP, Brasil, 04538-132

T: +55 (11) 4004-8000

BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

The quarterly information referred to above includes the parent company and consolidated statements of value added for the six-month period ended December 31, 2025. This statement is the responsibility of the Company's management and are presented as supplementary information under IAS 34. This statement has been subjected to review procedures performed together with the review of the quarterly information for the purpose of concluding whether it is reconciled with the interim accounting information and accounting records, as applicable, and if its form and content are in accordance with the criteria defined in the accounting standard CPC 09 - "Statement of Value Added". Based on our review, nothing has come to our attention that causes us to believe that this statement of value added has not been properly prepared, in all material respects, in accordance with the criteria established in this accounting standard, and that it is consistent with the parent company and consolidated interim accounting information taken as a whole.

São Paulo, February 5, 2026

PricewaterhouseCoopers Auditores Independentes Ltda. CRC 2SP000160/O-5

Emerson Lima de Macedo Contador CRC 1BA022047/O-1

Balance sheet 2

Statement of operations 4

Statement of comprehensive income (loss) 6

Statement of changes in equity 7

Statement of cash flows 8

Statement of value added 9

Management's notes to the financial statements 10

Balance Sheet

December 31, 2025 and June 30, 2025 (In thousands of reais)

Company Cons olidated

Balance Sheet

December 31, 2025 and June 30, 2025 (In thousands of reais)

Company Cons olidated

See the accompanying Management's notes on the individual and consolidated quarterly financial statements.

Statement of operations

Six-month period ended December 31, 2025 and 2024 (In thousands of reais, except as stated otherwise)

Company Cons olidated

See the accompanying Management's notes on the individual and consolidated quarterly financial statements.

Statement of operations

Three-month period ended December 31, 2025 and 2024 (In thousands of reais, except as stated otherwise)

Company Cons olidated

See the accompanying Management's notes on the individual and consolidated quarterly financial statements.

Statement of comprehensive income

Six and three-month period ended December 31, 2025 and 2024 (In thousands of reais)

Company and Consolidated

Company and Consolidated

See the accompanying Management's notes on the individual and consolidated quarterly financial statements.

Statement of changes in equity

Six-month period ended December 31, 2025 and 2024 (In thousands of reais)

Capital reserve Income reserve

Share is sue

Premium on share

Share-based

Capital

transactions between

Treasury

Legal

For

investment and

Supplement al dividends

Comprehensive income

Retained

earnings (accumulated

Total equity

See the accompanying Management's notes on the individual and consolidated quarterly financial statements.

Statement of cash flows

Six-month period ended December 31, 2025 and 2024 (In thousands of reais)

Company Consolidated

See the accompanying Management's notes on the individual and consolidated quarterly financial statements.

Statement of value added

Six-month period ended December 31, 2025 and 2024 (In thousands of reais)

Company Cons olidated

See the accompanying Management's notes on the individual and consolidated quarterly financial statements.

Notes to the individual and consolidated interim financial statements December 31, 2025

(In thousands of reais, except as stated otherwise)

1. General Information

   BrasilAgro - Companhia Brasileira de Propriedades Agrícolas ("BrasilAgro") or ("Company") was incorporated on September 23, 2005 and is headquartered at Avenida Rebouças, 2942, in the city and State of São Paulo with branches in the States of Bahia, Goiás, Mato Grosso, Minas Gerais, Maranhão, Piauí, Tocantins and São Paulo, as well as in Paraguay and Bolivia. The Company is the direct and indirect parent company of closely held companies and its corporate purpose is: (i) the sale, import and export of agriculture products and inputs, cattle raising and forestry activities; (ii) the purchase, sale and rental of real estate in rural and/or urban areas; and

   (iii) real estate brokerage involving any type of operations; and management of its own and third-party assets.

   The Company and its subsidiaries operate 21 farms with a total area of 252,796 hectares (249,846 hectares as of June 30, 2025), of which 183,136 hectares are owned, and 69,660 hectares are leased (173,253 hectares owned and 76,593 hectares leased as of June 30, 2025). There are 18 (eighteen) farms in Brazil distributed across 6 states, 1 (one) farm in Paraguay and 2 (two) farms in Bolivia.

2. Main corporate events
   1. Performance

      The Company generates part of its revenue from the sale of commodities to Brazilian customers, which are influenced by conditions in global markets for commodities and which rely on extensive logistics and supply chains, including ports, distribution centers and suppliers.

      Whereas agricultural products have seen a robust demand in export markets, logistics chains have experienced increased freight prices resulting from higher fuel costs. However, no significant disruptions have occurred in export and logistics operations; inbound shipments of inputs have mostly already been acquired and delivered to meet Company requirements.

      The Company has not seen any material changes to sales commitments to customers, reflecting the close relationships underpinning commercial negotiations.

      Short- and long-term liquidity is preserved and unaffected by volumes of inbound and outbound shipments. Management is satisfied that the Company's operations are sufficiently sustainable to permit it to operate as a going concern.

   2. Climate change risks

      The Company is exposed to risks arising from climate change, which may affect the performance of its agricultural operations, crop productivity, operating costs, supply chain and the valuation of its assets.

      These risks include, among others, the occurrence of adverse or extreme weather events, such as extended periods of drought, excessive rainfall, frosts, heat waves, and atypical temperature variations, which can impact crop development, product quality, and the schedule of agricultural operations.

      BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

      Notes to the individual and consolidated interim financial statements December 31, 2025

      (In thousands of reais, except as stated otherwise)

      Throughout the six months ending December 31, 2025, according to monitoring by Brazilian and international meteorological organizations, the climate has been affected by a weak La Niña trending to neutral conditions, This climate pattern provides level distribution of rainfall and temperatures among producing regions, benefiting crops and production cycles.

      The Company's operations in Brazil, Paraguay, and Bolivia are subject to these regional climate variations, which may require operational adjustments and affect accounting estimates and judgments, including, but not limited to, the measurement of the fair value of biological assets, assessment of asset recoverability, provisions for inventory losses, productivity estimates, and recognition of deferred tax assets.

      The Company continuously monitors weather conditions and their potential impacts on operations and accounting estimates, considering technical, historical, and prospective based on information available at the time the financial statements are prepared. To date, no effects have been identified that would require significant revisions to the main adopted assumptions.

      There is no guarantee that future weather conditions, including those associated with long-term climate change, may not adversely affect the Company's operating results, financial position and cash flow in future periods.

   3. Tariffs imposed by the United States of America - Impact analysis

      The tariff measures previously imposed by the U. S. government on certain agricultural products were partially repealed throughout the period, including those affecting the Company's portfolio of products. Although this was welcome, certain effects remain causing a certain degree of uncertainty in international markets and increased volatility in commodity and exchange rate markets.

      The Company continues to monitor U.S. trade policies and their impact on global markets. It employs strategic risk management for identifying opportunities to expand product competitiveness, ensuring the sustainability of its operations and stable results despite adverse circumstances. There were no further material changes impacting the financial statements for the period ended December 31, 2025.

   4. Tax Reform

      Constitutional Amendment No. 132, enacted on December 20, 2023, instituted the Consumption Tax Reform, based on the creation of a dual VAT model: the CBS, under federal jurisdiction, which will replace PIS and COFINS taxes, and the IBS, under nonfederal jurisdiction, will replace ICMS and ISS taxes. A Selective Tax (IS) was also created, under federal jurisdiction, applicable to products and services that are harmful to health and the environment.

      On December 17, 2024, Congress approved PLP 68/2024, sanctioned with vetoes on January 16, 2025, resulting in Complementary Law No. 214/2025. This Bill partially addressed the regulations for the establishment of the IBS Steering Committee required by December 31, 2025. Other pending regulations are detailed in Bill 108/2024, which has not yet been voted on by the Senate.

      The transition between the old and new systems will occur between 2026 and 2032. The new tax regulations have not affected the current financial information.

      BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

      Notes to the individual and consolidated interim financial statements December 31, 2025

      (In thousands of reais, except as stated otherwise)

3. Material accounting policies

   The material accounting policies used in the preparation of this financial information are consistent with the policies applied in the financial statements as of June 30, 2025.

   1. Preparation basis

      The Company's interim financial individual parent company and consolidated financial statements, were prepared in accordance with technical pronouncement CPC 21 (R1) - Interim Financial Reporting and in accordance with international standard IAS 34 issued by the International Accounting Standards Board ("IASB") and with the rules and regulations issued by the Brazilian Securities Commission ("CVM"). Disclosures are limited to all information of significance to the financial statements, being consistent with that used by Management in the performance of its duties.

      The practices, policies, and key accounting judgments regarding estimates adopted by the Company in preparing the interim financial information are consistent with Notes 3.1 to 3.30 and Note 4 adopted and disclosed in the annual financial statements for the year ended June 30, 2025, issued on September 3, 2025. Accordingly, the interim financial information for the quarter should be read in conjunction with the financial statements for the year ended June 30, 2025.

      The financial information is presented in thousands of Brazilian Real / Reais (R$), the Company's functional and presentation currency.

      The financial statements include non-financial data such as sales volume, total planted and leased area, number of farms, and environmental data. This information was not specifically reviewed by the independent auditors; however, it has been subject to Management's review.

      The individual and consolidated interim financial information for the period ended December 31, 2025, was approved by the statutory Board of Directors on February 5, 2026.

      Basis of consolidation

      The consolidated interim financial information comprises the financial statements of the Company and its subsidiaries as of December 31, 2025. The consolidated companies are referred to as the "BrasilAgro Group." The Company's percentage ownership of the BrasilAgro Group entities is presented below:

      Subsidiaries	Country of domicile	12/31/2025 %	06/30/2025 %
      Imobiliária Jaborandi Ltda.	Brazil	100	100
      Imobiliária Cremaq Ltda.	Brazil	100	100
      Imobiliária Araucária Ltda.	Brazil	100	100
      Imobiliária Mogno Ltda.	Brazil	100	100
      Imobiliária Cajueiro Ltda.	Brazil	100	100
      Imobiliária Ceibo Ltda.	Brazil	100	100
      Imobiliária Flamboyant Ltda.	Brazil	100	100
      Agrifirma Agro Ltda.	Brazil	100	100
      Agrifirma Bahia Agropecuária Ltda. (i)	Brazil	100	100
      Companhia Agrícola Novo Horizonte (i)	Brazil	100	100

      BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

      Notes to the individual and consolidated interim financial statements December 31, 2025

      (In thousands of reais, except as stated otherwise)

      Subsidiaries	Country of domicile	12/31/2025 %	06/30/2025 %
      Palmeiras S.A.	Paraguay	100	100
      Agropecuaria Morotí S.A.	Paraguay	100	100
      Agropecuaria Acres Del Sud S.A.	Bolivia	100	100
      Ombú Agropecuaria S.A.	Bolivia	100	100
      Yuchán Agropecuaria S.A.	Bolivia	100	100
      Yatay Agropecuaria S.A.	Bolivia	100	100
      (i) Subsidiary of Agrifirma Agro (indirect control).

      The subsidiaries are fully consolidated from the date control is obtained until control ceases. Control is obtained when the Company is exposed to, or has rights from, variable returns arising from its involvement with the investee and has capacity to affect such returns through its power over the investee.

      The financial statements of the subsidiaries are prepared for the same reporting period of the Company, using consistent accounting policies. All intragroup balances, revenues and expenses are fully eliminated in the consolidated financial statements.

   2. Explanatory notes not repeated in this interim financial information

      The preparation of this condensed quarterly financial information involves judgment by the Company's Management regarding the significance and changes in balances for purposes of disclosure in the notes to the financial statements. Therefore, this interim financial information only includes selected notes to the financial statements and not all the notes presented in the financial statements as at and for the year ended June 30, 2025 (Note 3 to those financial statements).

   3. New accounting standards, alterations and interpretations of standards

      There have been no new standards or interpretations issued that, in the opinion of Management, have had a significant impact on the financial statements for the period.

4. Financial risk management

   The financial risk management adopted in the preparation of the quarterly financial information is consistent with that described in Note 5 to the annual financial statements.

   1. Estimate of fair value of financial instruments

      1. Sensitivity analysis

         Management identified for each type of derivative financial instrument potential effects arising from variations in foreign exchange rates, interest rates or commodities prices which may generate loss on assets and/or liabilities.

         The sensitivity analysis aims at measuring the impact of these potential changes in the market variables on the financial instruments, all other variables being held constant. Results of final settlement, may differ due to the inherent subjectivity of the estimation process.

         BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

         Notes to the individual and consolidated interim financial statements December 31, 2025

         (In thousands of reais, except as stated otherwise)

         This analysis contemplates five distinct scenarios as at December 31, 2025 and over the subsequent year. These are Scenarios I, II, III IV and V presenting variations in relation to the December 31, 2025 base market of 0%, -25%, -50%, +25%, +50%, respectively. Projections were sourced from respected institutions. Hypothetical effects are as follows:

         (*) annual average rates		Cons olidated			Scenario I -Probable		Scenario II -Probable		Scenario III - Remote		Scenario IV - Probable		Scenario V - Remote
         		On December 31, 2025					Decreas e	-25%	Decreas e	-50%	Increas e	25%	Increas e	50%
         Operation	Ris k	Balance (R$)	Notional/ Pos ition	Rate	Balance (R$)	Rate	Balance (R$)	Rate	Balance (R$)	Rate	Balance (R$)	Rate	Balance (R$)	Rate
         Short-term investments	CDI	48,681	-	14.90%	(528)	13.82%	(1,682)	10.36%	(3,361)	6.91%	1,682	17.27%	3,361	20.72%
         Marketable securities	SELIC	16,325	-	15.00%	(193)	13.82%	(564)	10.36%	(1,126)	6.91%	564	17.27%	1,126	20.72%
         Cash and securities - USD	USD	3,495	635	5.50	(285)	5.95	(945)	4.46	(1,890)	2.98	945	7.44	1,890	8.93
         Total cas h, cas h equivalent		68,501	635		(1,006)		(3,191)		(6.377)		3.191		6.377
         Financing in Paraguay	USD	(37,647)	(6.842)	5.50	(16,941)	5.95	56,023	4.46	112,045	2.98	(56,023)	7.44	(112,045)	8.93
         Financing in Brazil	USD	(66,601)	-	5.50	(29,970)	5.95	99,109	4.46	198,218	2.98	(99,109)	7.44	(198,218)	8.93
         Financing in Brazil	CDI	(68,949)	-	14.90%	748	13.82%	2,382	10.36%	4,761	6.91%	(2,382)	17.27%	(4,761)	20.72%
         Financing/Debentures	IPCA	(324,881)	-	4.26	(5,498)	5.95	4,833	4.46	9,674	2.98	(4,833)	7.44	(9,674)	8.93
         Total financing (b)		(498,078)	(6,842)		(51,661)		162,347		324.698		(162.347)		(324.698)
         Araucária VI	Soybean bags	2,907	27,740	115.58	-	115.58	(727)	86.68	(1,454)	57.79	727	144.47	1,454	173.36
         Araucária VII	Soybean bags	132,794	1,282,500	119.92	-	119.92	(33,199)	89.94	(66,397)	59.96	33,199	149.90	66,397	179.88
         Jatobá V	Soybean bags	6,735	59,534	121.20	-	121.20	(1,684)	90.90	(3,368)	60.60	1,684	151.50	3,368	181.80
         Jatobá VI	Soybean bags	11,068	99,442	126.68	-	126.68	(2,767)	95.01	(5,534)	63.34	2,767	158.35	5,534	190.02
         Jatobá VII	Soybean bags	51,881	506,688	133.35	-	133.35	(12,970)	100.01	(25,941)	66.68	12,970	166.69	25,941	200.03
         Alto Taquari IV	Soybean bags	147,505	1,456,974	128.93	-	128.93	(36,876)	96.70	(73,753)	64.46	36,876	161.16	73,753	193.39
         Chaparral I	Soybean bags	214,796	2,109,820	140.23	-	140.23	(53,699)	105.17	(107,398)	70.12	53,699	175.29	107,398	210.35
         Preferência I	Cattle (@)	66,055	316,640	309.50	-	309.50	(16,514)	232.13	(33,028)	154.75	16,514	386.88	33,028	464.25
         Rio do Meio I	Soybean bags	47,133	442,884	106.45	-	106.45	(11,783)	79.83	(23,567)	53.22	11,783	133.06	23,567	159.67
         Rio do Meio II	Soybean bags	5,201	51,240	128.51	-	128.51	(1,300)	96.38	(2,601)	64.26	1,300	160.64	2,601	192.77
         Total receivables from farms		686,075	6,353,462		-		(171,519)		(343,041)		171,519		343,041
         Derivative operations	Grains (bags )	3,486	(4,161,567)	(a)	2,200	(a)	51,043	(a)	102,458	(a)	(60,368) (a)		(121,042) (a)
         Derivative operations	USD	24,553	(44,359)	(a)	15,989	(a)	98,436	(a)	196,806	(a)	(98,300) (a)		(196,672) (a)
         Derivative operations	Cattle (@)	-	-	(a)	-	(a)	108	(a)	239	(a)	(154) (a)		(284) (a)
         Derivative operations	Cotton (lbs.)	37	(3,750,000)	(a)	3,192	(a)	9,206	(a)	19,395	(a)	(18,083) (a)		(38,750) (a)
         Derivative operations	Ethanol (m^3)	(5,306)	(21,900)	(a)	(7,178)	(a)	40,686	(a)	81,371	(a)	(40,686) (a)		(81,371) (a)
         Derivative operations	Swap (BRL)	(6,082)	-	(a)	(10,906)	(a)	25,841	(a)	54,497	(a)	(23,469) (a)		(44,918) (a)
         Derivative operations	Sugarcane (Kg)	2,678	(36,336,000)	(a)	14	(a)	8,998	(a)	17,995	(a)	(8,998) (a)		(17,995) (a)
         BM&F Margin	SELIC	4,715	-	15.00%	(56)	13.82%	(163)	10.36%	(326)	6.91%	163 17.27%		326 20.72%
         Total derivatives (a)		24,081	(44,313,826)		3,255		234,155		472,435		(249,895)		(500,706)
         Cresud, net	USD	1,149	209	5.50	95	5.95	(311)	4.46	(622)	2.98	311	7.44	622	8.93
         Helmir, net	USD	450	82	5.50	38	5.95	(122)	4.46	(244)	2.98	122	7.44	244	8.93
         Total related parties		1,599	291		133		(433)		(866)		433		866

         (*) SOURCE Risks: Bloomberg

         1. For sensitivity analysis of derivative positions, forward rates and prices at each maturity date of the operation were us ed.

         2. The sensitivity analyses do not consider financing transactions and receivables from farms with fixed rate.

      2. Liquidity risk

      The table below shows the Company's financial liabilities grouped by maturity. Management continually monitors cash flows to avoid a mismatches. The amounts disclosed in the table are the discounted contractual cash flows, except for "Loans, financing and debentures" and "Leases payable" lines, in addition to the net derivative financial instruments, for which the fair value is disclosed.

      Book

      Contractual

      Less than

      From one

      to two

      From three to

      five

      Above five

      Consolidated financial liabilities December 31,2025	Note	value	value	one year	years	years	years	Total
      Derivatives	6	24,227	24,227	10,718	13,509	-	-	24,227
      Lease payables	14	363,379	671,118	90,741	148,039	258,166	174,172	671,118
      Trade accounts payable	15	144,204	144,204	144,204	-	-	-	144,204
      Loans, financing and debentures	16	886,173	1,126,019	495,976	313,797	300,553	15,693	1,126,019
      Acquisitions payable	18	23,830	23,830	6,467	17,363	-	-	23,830
      Related-party transactions	29	7,430	7,430	-	7,430	-	-	7,430
      June 30, 2025 Derivatives	6	33,124	33,124	15,492	17,632	-	-	33,124
      Lease payables	14	352,539	635,192	88,397	144,367	248,148	154,280	635,192
      Trade accounts payable	15	103,658	103,658	103,658	-	-	-	103,658
      Loans, financing and debentures	16	885,519	1,058,791	402,928	262,410	329,643	63,810	1,058,791
      Acquisitions payable	18	24,445	24,445	7,082	17,363	-	-	24,445
      Related-party transactions	29	8,401	8,401	-	8,401	-	-	8,401

      BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

      Notes to the individual and consolidated interim financial statements December 31, 2025

      (In thousands of reais, except as stated otherwise)

   2. Capital management

      The Company's objectives when managing capital are to safeguard the Company's ability to continue operating as a going concern to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.

      In order to maintain or adjust the capital structure, the Company may alter the dividends to shareholders, return capital to shareholders, issue new shares or sell assets to reduce the level of indebtedness.

      Consistent with others in the industry, the Company monitors capital based on the leverage ratio. This ratio is calculated as net debt divided by total equity. Net debt is calculated as total loans, financing, debentures, acquisitions payable and derivatives, less cash and cash equivalents.

      The Company presents its net debt and leverage ratio:

      Consolidated

      	Note	12/31/2025		06/30/025
      Derivative operations	6	(24,081)		(7,458)
      Loans, financing and debentures	16	886,173		885,519
      Acquisitions payable	18	23,830		24,445
      Minus:		885,922		902,506
      Cash and cash equivalents	5.1	(38,321)		(142,908)
      Marketable securities	5.2	(34,929)		(16,908)
      		(73,250)		(159,816)
      Net coverage		812,672		742,690
      Total equity		2,078,035		2,177,728
      Leverage ratio		39.11%		34.10%

   3. Hierarchy of fair value

      The balances of trade accounts receivable and payable at book value, less impairment, are assumed to approximate their fair values. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Company for similar financial instruments.

      The Company adopts CPC 40/ IFRS 7 for financial instruments that are measured in the balance sheet at fair value, which requires disclosure of fair value measurements by Level of the following fair value measurement hierarchy:

      • Quoted (unadjusted) prices in active markets for identical assets or liabilities (Level 1);

      • Information, in addition to quoted prices, included in Level 1 that are observable in the market for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (Level 2);

      • Inputs for assets or liabilities that are not based on observable market data (that is, unobservable inputs) (Level 3).

        BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

        Notes to the individual and consolidated interim financial statements December 31, 2025

        (In thousands of reais, except as stated otherwise)

        The following table presents the Company's assets and liabilities that are measured at fair value, as well as the fair value hierarchy:

        12/31/2025

        Significant

        Consolidated - R$ thousand	Note	Book value	Fair value	Quoted prices in active markets (Level 1)	observable data (Level 2)	Significant non- observable data (Level 3)
        Financial assets measured at amortized cost Current
        Cash and cash equivalents	5.1	30,077	30,077	30,077	-	-
        Trade receivables, net Non-current	7.1	122,752	122,752	-	122,752	-
        Related-party transactions Financial assets measured at fair value through	29	3,082	3,082	-	3,082	-
        profit or loss Current
        Marketable securities	5.2	16,325	16,325	16,325	-	-
        Receivables from sale of farm, net	7.1	214,486	214,486	-	214,486	-
        Derivative operations	6	16,056	16,056	16,056		-
        Derivative operations	6	24,764	24,764	-	24,764	-
        Non-current
        Marketable securities	5.2	18,604	18,604	18,604	-	-
        Receivables from sale of farm, net	7.1	471,808	471,808	-	471,808	-
        Derivative operations Non-financial assets measured at fair value Current	6	7,488	7,488	-	7,488	-
        Biological assets	9	28,528	28,528	- 28,528		-
        Biological assets	9	377,147	377,147	- -		377,147
        Non-current Biological assets	9	11,117	11,117	-	11,117	-
        Non-financial assets measured at cost Non-current Investment properties	10	1,343,340	3,615,837	-	-	3,615,837
        Total Financial liabilities measured at amortized cost Current		2,685,574	4,958,071	81,062	884,025	3,992,984
        Trade payables	15	144,204	144,204	-	144,204	-
        Loans, financing and debentures	16	361,478	361,478	-	361,478	-
        Accounts payable due to acquisition of farm	18	690	690	-	690	-
        Non-current
        Related-party transactions	29	7,430	7,430	-	7,430	-
        Loans, financing and debentures	16	524,695	524,695	-	524,695	-

        Financial liabilities measured at fair value through profit or loss

        Current

        Leases payable	14	72,607	72,607	-	72,607	-
        Derivative operations	6	10,498	10,498	10,498	-	-
        Derivative operations	6	220	220	-	220	-
        Accounts payable due to acquisition of farm	18	5,777	5,777	-	5,777	-
        Non-current
        Leases payable	14	364,160	364,160	-	364,160	-
        Derivative operations	6	13,509	13,509	-	13,509	-
        Accounts payable due to acquisition of farm	18	17,363	17,363	-	17,363	-
        Total		1,522,631	1,522,631	10,498	1,512,133	-

        The significant non-observable inputs used in the measurement of the fair value of the receivables from the sale of the farm, classified as Level 3 in the fair value hierarchy, along with an analysis of quantitative sensitivity on December 31, 2025, are as follows.

        Des cription Methodology

        Significant non-obs ervable inputs

        Variation of non-obs ervable inputs

        Sensitivity of inputs to fair value

        Receivables from sale of farm

        Discounted cash flow

        Premium (or Basis)

        0.15 - 0.60 USD/bu The increase or decrease of USD

        0.20/bu in the premium (or basis) paid for soybeans would result in an impact of R$12,310, or a 1.93% increase or decrease in farm receivables.

        The significant non-observable inputs used in measuring the fair value of the biological asset and investment properties are disclosed in Notes 9 and 10, respectively.

        BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

        Notes to the individual and consolidated interim financial statements December 31, 2025

        (In thousands of reais, except as stated otherwise)

5. Cash and cash equivalents and marketable securities
   1. Cash and cash equivalents

      Company Cons olidated

      	Return	12/31/2025	06/30/2025	12/31/2025	06/30/2025
      Cash and banks (a)		6,121	5,337	8,244	17,294
      Bank deposit certificates	CDI - 97% to 102%	9,055	9,727	28,493	91,868
      Repo agreements	CDI - 70% to 95%	-	15,336	1,584	33,746
      		15,176	30,400	38,321	142,908

      (a) Includes foreign currency balances equivalent to R$3,496 (R$3,430 as of June 30, 2025) in the Company and R$4,839 (R$14,023 as of June 30, 2025) in the Consolidated.

   2. Marketable securities

      Company Cons olidated

      	Yield		12/31/2025	06/30/2025	12/31/2025		06/30/2025
      Treasury Notes	SELIC - 100% to 178%		-	-	16,325		16,908
      Total - current			-	-	16,325		16,908
      Bank deposit certificates (a)	CDI - 97% to 102%		8,072	-	18,604		-
      Total - non-current			8,072	-	18,604		-

      (a) CDBs and securities given as collateral under the BNB loan agreement.

6. Derivative operations

   12/31/2025 12/31/2025

   Company Consolidated

   Book Value Book Value Volume / Position

   Derivative instruments Options	Long 531	Short 192	Net 339	Long 531	Short 192	Net 339	Long 10,000	Short (10,000)	Net -	Unit US$
   NDF	23,688	310	23,378	23,688	310	23,378	-	(49,359)	(49,359)	US$
   USD - Structured products	880	44	836	880	44	836	-	(7,601)	(7,601)	US$
   Soybean - Put Options	1,024	131	893	1,024	131	893	333,375	(333,375)	-	bags
   Soybean - Call Options	-	47	(47)	-	47	(47)	-	(333,375)	(333,375)	bags
   Soybean - Futures	4,937	4,123	814	4,937	4,123	814	297,089	(2,189,616)	(1,892,527)	bags
   Soybean - Structured products	1,642	-	1,642	1,642	-	1,642	-	(560,161)	(560,161)	bags
   Basis - Futures	377	-	377	377	-	377	-	(251,732)	(251,732)	bags
   Corn - Futures	-	-	-	-	-	-	-	(536,400)	(536,400)	bags
   Corn - Structured products	-	193	(193)	-	193	(193)	-	(587,373)	(587,373)	bags
   Cotton - Futures	55	18	37	55	18	37	-	(3,750,000)	(3,750,000)	lbs.
   Ethanol - Futures	60	5,366	(5,306)	60	5,366	(5,306)	1,500	(23,400)	(21,900)	m^3
   TRS - Future	2,678	-	2,678	2,678	-	2,678	-	(36,336,000)	(36,336,000)	kg
   Swap	6,473	13,624	(7,151)	7,647	13,729	(6,082)	404,361	(404,361)	-	R$
   Deposited margin 4,789 74 4,715				4,789 74 4,715			- - -			-
   Total Risks - Derivatives 47,134 24,122 23,012				48,308 24,227 24,081
   Total - Current	40,275	10,613	40,820		10,718
   Total - non-current	6,859	13,509	7,488		13,509
   	47,134	24,122	48,308		24,227
   Results on December 31, 2025 (Note 25)
   Realized	27,024	(22,376)	27,024		(24,906)
   Unrealized	39,908 (30,289)		43,869 (31,427)
   	66,932 (52,665)		70,893 (56,333)

   BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

   Notes to the individual and consolidated interim financial statements December 31, 2025

   (In thousands of reais, except as stated otherwise)

   06/30/2025 Company				06/30/2025 Consolidated
   Book Value					Book Value		Volume / Position
   Derivative instruments Long Short Net				Long	Short	Net	Long Short Net			Unit
   Options	652	(720)	(68)	652	(720)	(68)	3,800	(7,600)	(3,800)	US$
   NDF	17,692	(1,565)	16,127	17,692	(1,565)	16,127	-	(74,615)	(74,615)	US$
   Soybean - Futures	1,224	(1,906)	(682)	1,224	(1,906)	(682)	1,463,970	(2,829,650)	(1,365,680)	bags
   Soybean - Structured products	-	(810)	(810)	-	(810)	(810)	-	(560,161)	(560,161)	bags
   Basis - Futures	-	(876)	(876)	-	(876)	(876)	-	(233,589)	(233,589)	bags
   Corn - Put Options	3,623	-	3,623	3,623	-	3,623	216,354	-	216,354	bags
   Corn - Futures Corn - Structured	3,978	-	3,978	3,978	-	3,978	-	(607,050)	(607,050)	bags
   products	591	-	591	591	-	591	-	(88,446)	(88,446)	bags
   Cotton - Structured products	1,050	-	1,050	1,050	-	1,050	-	(10,330,050)	(10,330,050)	lbs.
   Cotton - Call Options	-	(11)	(11)	-	(11)	(11)	-	(6,350,000)	(6,350,000)	lbs.
   Cotton - Futures	2,293	(141)	2,152	2,293	(141)	2,152	-	(10,922,350)	(10,922,350)	lbs.
   Fed Cattle - Futures	23	-	23	23	-	23	-	(1,650)	(1,650)	@
   Ethanol - Futures	4	(7,181)	(7,177)	4	(7,181)	(7,177)	-	(58,800)	(58,800)	M^3
   TRS - Future	526	(512)	14	526	(512)	14	-	(30,336,000)	(30,336,000)	kg
   Swap	8,496	(17,753)	(9,257)	8,496	(19,402)	(10,906)	531,742	(531,742)	-	R$
   Deposited margin 430 - 430				430	-	430	- - -			-
   Total Risks - Derivatives	40,582	(31,475)	9,107		40,582	(33,124)	7,458
   Total - Current	29,609	(15,402)			29,609	(15,492)
   Total - non-current	10,973	(16,073)			10,973	(17,632)

   Results on December 31, 2024 (Note 25)

   Realized	37,286	(43,284)	37,286	(43,284)
   Unrealized	51,030 (110,051)		53,475 (109,937)
   88,316		(153,335)	90,761	(153,221)

   Derivatives by maturity:

   12/31/2025 06/30/2025

   Maturity Company Cons olidated Company Cons olidated

   2025	-	-	8,836	8,836
   2026	29,662	30,102	7,575	7,485
   2027	386	1,015	-	(1,559)
   2028	5,903	5,903	8,450	8,450
   2030	(12,939) (12,939)		(15,754)	(15,754)
   	23,012 24,081		9,107	7,458

   The Company uses derivative financial instruments such as currency and forward contracts and forward commodities contracts to hedge against currency risk and commodities prices, respectively.

   The margin deposits are provided for derivative operations as margins to counterparties.

   The total fair value of a derivative is classified as noncurrent assets or liabilities if the remaining maturity of the derivative is over one year, and as current assets or liabilities if the remaining maturity of the derivative is less than one year.

   BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

   Notes to the individual and consolidated interim financial statements December 31, 2025

   (In thousands of reais, except as stated otherwise)

7. Accounts receivable and other assets

   Company Cons olidated

   	Note	12/31/2025	06/30/2025	12/31/2025	06/30/2025
   Trade accounts receivable	7.1	60,758	93,072	337,238	385,058
   Recoverable taxes	7.2	4,064	2,199	25,552	15,648
   Advances to suppliers		3,720	15,384	4,530	19,813
   Other receivables		15,158	7,093	17,026	8,946
   Total current		83,700	117,748	384,346	429,465
   Trade accounts receivable	7.1	-	-	471,808	521,210
   Recoverable taxes	7.2	52,859	48,667	87,419	76,089
   Judicial deposits	27	-	547	5,980	6,544
   Total non-current		52,859	49,214	565,207	603,843

   1. Trade accounts receivables

      			Company				Cons olidated
      	12/31/2025		06/30/2025		12/31/2025		06/30/2025
      Sale of sugarcane	24,462		20,991		53,693		45,800
      Sale of grains	23,922		63,099		30,590		73,869
      Sale of cotton	11,838		3,974		22,201		3,946
      Sale of cattle	802		2,226		6,304		2,226
      Leases and rentals	585		419		11,606		15,357
      Other sales	-		3,214		2,188		12,218
      Sale of farms	-		-		214,486		235,419
      	61,609		93,923		341,068		388,835
      Expected losses	(851)		(851)		(3,830)		(3,777)
      Total current	60,758		93,072		337,238		385,058
      Sale of farms	-		-		471,808		521,210
      Total non-current	-		-		471,808		521,210

      1. Changes in trade accounts receivable agriculture and cattle raising activities:

         Company Consolidated

         	Grains	Cotton	Cattle	Sugarcane	Grains	Cotton	Cattle	Sugarcane
         Balance on June 30, 2025	63.099	3.974	2.226	20.991	73.869	3.946	2.226	45.800
         Sales	178,216	48,816	28,224	37,998	248,376	60,073	34,983	158,722
         Receivables	(217,393)	(40,952)	(29,648)	(34,527)	(291,708)	(41,818)	(30,905)	(150,829)
         (-) Expected losses	-	-	-	-	53	-	-	-
         Balance on December 31, 2025	23,922	11,838	802	24,462	30,590	22,201	6,304	53,693

      2. Changes in the allowance for expected credit losses:

         	Company	Cons olidated
         At June 30, 2025	851	3,777
         Exchange variation	-	53
         At December 31, 2025	851	3,830

         BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

         Notes to the individual and consolidated interim financial statements December 31, 2025

         (In thousands of reais, except as stated otherwise)

      3. Receivables by maturity

         Company Cons olidated

         Not yet due:	12/31/2025		06/30/2025		12/31/2025		06/30/2025
         Up to 30 days	40,377		70,500		105,581		112,576
         31 to 90 days	2,595		7,306		57,563		82,070
         91 to 180 days	14,883		7,723		121,729		42,594
         181 to 360 days	-		3,285		46,770		143,437
         Over 360 days	-		-		471,808		521,210
         Past due: 31 to 90 days	464		3,898		3,137		3,995
         Up to 30 days	2,339		26		2,358		26
         181 to 360 days	100		334		100		360
         Over 360 days	851		851		3,830		3,777
         	61,609		93,923		812,876		910,045

      4. Sale of sugarcane

         The main revenues from sugarcane are concentrated in three supply agreements. The credit risks of these agreements are assessed in accordance with the internal policy as presented in Note 5.8.b. in the annual financial statements as of June 30, 2025.

         All the risks were covered during the period ended on December 31, 2025 and there was no cases of default through to the date of issuance of these financial statements.

      5. Receivables from sale of farm

      Amounts sold, received and receivables for sale of farm are as follows:

      Fair value Exchange

      06/30/2025 Receivables adjustment (*) variation 12/31/2025 Current Non-current

      Araucária VI	2,952	-	(45)	-	2,907	1,289	1,618
      Araucária VII	134,893	-	(2,099)	-	132,794	45,936	86,858
      Jatobá II	9,423	(9,969)	546	-	-	-	-
      Jatobá III	3,685	(3,796)	111	-	-	-	-
      Jatobá V	8,981	(2,266)	20	-	6,735	4,191	2,544
      Jatobá VI	13,002	(1,893)	(41)	-	11,068	5,229	5,839
      Jatobá VII	57,297	(4,822)	(594)	-	51,881	16,722	35,159
      Alto Taquari IV	149,582	-	(2,077)	-	147,505	37,084	110,421
      Chaparral I	219,792	(2,142)	(2,854)	-	214,796	46,400	168,396
      Preferência	101,620	(40,000)	4,435	-	66,055	14,654	51,401
      Fon Fon I	555	-	(328)	(8)	219	219	-
      Rio do Meio I	49,571	-	(2,438)	-	47,133	42,762	4,371
      Rio do Meio II	5,276 - (75) - 5,201					- 5,201
      	756,629 (64,888) (5,439) (8) 686,294					214,486 471,808

      * The negative variation recorded during the period is due to the fall in US dollar exchange rate, one of the assumptions used in the applied calculation methodology.

      BrasilAgro - Companhia Brasileira de Propriedades Agrícolas

      Notes to the individual and consolidated interim financial statements December 31, 2025

      (In thousands of reais, except as stated otherwise)

   2. Recoverable taxes

Notes to the individual and consolidated interim financial statements December 31, 2025

(In thousands of reais, except as stated otherwise)

Plantation and treatment of crops are substantially expenditures incurred with crop formation such as seeds, fertilizers, crop chemicals, depreciation and manpower used in the crops.

The area for harvest corresponding to the biological assets is as follows:

Company Cons olidated

Planted area (hectares) Planted area (hectares)