Corporate Taxpayer's ID (CNPJ/MF): 07.628.528/0001-59 Company Register Identification Number (NIRE): 35.300.326.237 Publicly Held Company
EXTRACT FROM THE MINUTES OF THE BOARD OF DIRECTORS' MEETING HELD ON MAY 7th, 2025 Date, Time, and Place: On May 7th, 2025, at 4:30 p.m., in a hybrid format, at the office of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas, located in the City of São Paulo, State of São Paulo, at Avenida Rebouças, No. 2,942, 6th floor, ZIP Code 05402-500 ("Company" or "BrasilAgro"). Call Notice: The meeting was called in accordance with Article 20, paragraph one, of the Bylaws and Article 4.3.1 of the By-laws of the Company's Board of Directors. Attendance: The entire membership of the Company's Board of Directors was in attendance, namely: Eduardo Sergio Elsztain, Alejandro Gustavo Elsztain, Saul Zang, Alejandro Gustavo Casaretto, Efraim Horn, Eliane Aleixo Lustosa de Andrade, Isaac Selim Sutton, Isabella Saboya de Albuquerque, Matias Ivan Gaivironsky, and Saúl Zang ("Directors"). It is hereby recorded that the participants attended both in person and via videoconference, as allowed pursuant to Article 20, caput, of the Company's Bylaws. Presiding: Chairman: Eduardo S. Elsztain; Secretary: André Guillaumon. Agenda: To examine, discuss, and deliberate on: (i) ratification of the amendment to the Jataí Farm lease agreement; (ii) approval of a bridge loan for working-capital purposes; (iii) ratification of the guarantee granted in favor of the subsidiary Novo Horizonte; and (iv) approval of the merger of the Paraguayan subsidiaries. Resolutions: The Board Members analyzed the agenda and, unanimously and without any reservations, resolved to:ratify, upon the favorable opinion of the Executive Committee, the amendment to the Jataí Farm lease agreement confirming the remaining contractual provisions;
approve, upon the favorable opinion of the Finance Committee and pursuant to Clause 21, item XXIV of the Company's Bylaws, the contracting by the Company of a bridge loan of up to BRL 100,000,000.00 (one hundred million reais) for working-capital purposes;
ratify, upon the favorable opinion of the Finance Committee and under Clause 21, item XVIII of the Company's Bylaws, all financial agreements and guarantees granted by the Company and its subsidiaries to Banco Itaú Unibanco S.A., in particular the guarantee furnished by BrasilAgro in favor of its subsidiary Novo Horizonte Agrícola Ltda. in relation to the CPR with swap issued on 1 October 2024 in the amount of BRL 25,000,000.00 (twenty-five million reais);
approve, upon the favorable opinion of the Executive Committee and pursuant to Clause 21, item XXVI of the Company's Bylaws, the intra-group merger of the subsidiary Agropecuária Moroti S.A. into the subsidiary Palmeiras S.A.; and
authorize management to undertake all acts necessary to implement the aforementioned merger before third parties and any competent Brazilian and Paraguayan governmental authorities.
Signatories: (a) Presiding: Eduardo S. Elsztain as Chairman; and André Guillaumon as Secretary; (b) Members of the Board of Directors: Eduardo Sergio Elsztain, Saul Zang, Alejandro Gustavo Elsztain, Alejandro Gustavo Casaretto, Matias Ivan Gaivironsky, Saúl Zang, Efraim Horn, Eliane Aleixo Lustosa de Andrade, Isaac Selim Sutton and Isabella Saboya de Albuquerque.
São Paulo, May 7th, 2025.
André GuillaumonSecretary