IFACC 2023 Market Report

2. Products are shown in dollars even when they were denominated in reais. Currency exchange rate conversion should consider roughly US$ 1 / 4.9 R$, but correctly assessed considering each year. 3. Numbers related exclusively to proceeds to the Cerrado region.1. SYNGENTA, ITAÚ PASTURE RECOVERY PROGRAM (“REVERTE”) IN THE CERRADO Closing date: In 2022 and 2023 the Reverte program was expanded, following the initial launch in 2021. Disbursed amount2: A total of US$ 116.9 MM; being US$ 97.5 MM in 2023 (in addition to US$ 19.4 MM disbursed in 2022, and in addition to US$ 16.9 MM disbursed in 20213 pre-IFACC) Partners: Syngenta, Banco ItaúBBA and The Nature Conservancy Overview: Long-term financing provided by Itaú to Syngenta clients to expand soy production over degraded pastureland in the Cerrado using regenerative agriculture practices, including integration with livestock production. Restoration of degraded soil includes investments in input packages, infrastructure, and machinery. Structure and terms: Loan tenor of up to 10 years with up to three-year grace period, providing patient capital for farmers at attractive interest rates. Itaú is the lender of record to the farmer; Syngenta shares a portion of the lending risk. Expected impact: The program has financed the agricultural expansion of over 82,941 hectares of degraded pastureland, reducing the pressure of expansion over native vegetation areas. Agricultural practices also enable sustainable yield improvements for farmers. Scale opportunities: The program aims to scale to 1 million hectares over the coming years and is exploring other financial solutions that can unlock funding at the scale needed. ifacc USD 116.9 Million2021 USD 16.9 MM2022 USD 19.4 MM2023 USD 97.5 MM © TNCCerrado 15 IFACC 2023 MARKET REPORT