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Investor Presentaiton

$ Billions 33 U.S. Farm Balance Sheet $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 1975 1980 Farm Debt 1985 1990 1995 Farm Equity Source: 1975-2018: USDA, 5 February 2020 2019F-2020F: Deere & Company forecast as of 22 May 2020 T л 2000 Debt to Equity Ratio (%) 2005 2010 30% 25% 20% 15% 10% 2015 2020F Debt to Asset Ratio (%)

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