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Investor Presentaiton

28 Cargill 2020 Annual Report Transformation of the cocoa and chocolate chain The first Cargill cocoa processing plant in the world was installed in Ilhéus, Brazil, more than 40 years ago and is connected to dozens of factories and development centers around the planet. Today, the management and operation of this chain in the country covers the cocoa bean origin, pro- cessing, chocolate factory and innovation centers installed in various states. We act in the cocoa and chocolate market as a supplier of liquor, powder and butter to produce chocolate, both to large-sized industries as well as handmade production. Our broad presence in this sector favors the development of products and services that assist the entire chain. In the country, the production we process follows the same policies that we apply to all supply chains. Being the second largest cocoa bean processor in the world, Cargill identifies the peculiarities that make the Brazilian market unique with regard to world production, considering that the market still faces challenges involving sustainability and scale. The country is the only one to cover the complete chain, from producer to final consumer - it produces and pro- cesses cocoa and manufactures and consumes chocolate on a large scale. This causes the bean production to be insuffi- cient, not just for exports, but also for local production. Another point that differentiates the supply chain in Brazil is that it is spread out and follows a family production profile. With 90,000 producers spread among the states of Bahia, Pará, Espírito Santo, Rondônia and Mato Grosso, fragmen- tation requires greater capillarity of our team to maintain direct contact with producers. Due to this spread, the advances achieved in other countries with the use of technology to obtain traceability and scale remain incipient, as well as certification attempts. In order to deliver more volume and add value, producers depend on investments in technology. Technical advances Techniques taught to producers to improve production and increase scale consist of: instructions on pruning, efficient use of fertilizers, disease control, fermentation, work safety, correct input application, use of PPEs and environmental management. Due to these characteristics, we have concentrated our efforts on the beginning of the supply chain because we understand that it is at this point that some of the most urgent challenges are present and where we can cause the greatest impact. Besides studying how to develop cooper- atives, we have started to test a set of services to stimulate certification, access to technical assistance via mobile phones and are preparing satellite traceability. In 2020, the company supported with financial and mana- gerial resources pilot projects in the cocoa plantation area of the State of Pará, in partnership with the Imaflora NGO. We started work with 150 producer families, associated in a cooperative for planting cocoa, a native Amazon species, to reclaim areas converted into different land uses. When grown amongst other species, cocoa increases its resilience while promoting plant coverage, it recovers degraded areas and contributes to biodiversity. The project included sup- port to identify liability areas and mapping of the productive areas, legal reserve and of the property itself. Another 50 farmers were trained on better cultivation tech- niques and efficient use of inputs to meet the sustainable production standards and to become multipliers of good practices in the region. With the support of Solidaridad, the implementation of experimental plots in the previous year generated as a result an average gain in cocoa productivity of 34% and 26% addi- tional revenue for the ten selected families, by means of the Fertile Cocoa project. In Bahia, a partnership was also signed with the Instituto Floresta Viva under the Aliança Cacau project. Its purpose is to make agro-forestry systems more productive and the cabruca, besides offering support to environmental man- agement of the properties and management of the 30 fam- ily cooperative. The initiatives are in line with the company's global goals and are part of Cargill Cocoa Promise's commitment to economic prosperity of smallholders and forest protection. The projects follow our vision that the transformation of the supply chains must be addressed collectively, by joining companies, clients and specialized partners that know the local context and culture.
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