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Sul - Hot Topics Source: IBGE e Bacen. Elaboração Pezco Economics. CMN defined the new rates for contracting Proagro in the 2020/21 harvest. In the Proagro Mais category, rates rose from between 3%-6% to between 3%-7.5%, differentiated by region. In Proagro Tradicional, the rates went from 4%-6.5% to between 4%-8.5%. The Proagro rate for off-season corn in the South region will be 8.5% (against 7% in other regions). The drought in Rio Grande do Sul will generate compensation of up to R$1.9 billion to affected producers who have taken out insurance, according to a survey by the Department of Risk Management of the Agricultural Policy Secretariat of the Ministry of Agriculture. About 35% of Proagro's operations and policies for soybean and corn in the state's federal premium subsidy program reported losses in the harvest - the highest loss ratios since 2006. Of the total, R$ 906 million must be paid by Bacen, administrator of Proagro. Another R$985 million must be paid by insurers accredited by the federal program. Drought is the explanation for about 96% of claims. RS represents about 80% of Proagro's loss announcements in the country. Of the 15 locations that are part of the IBGE industrial survey, 12 grew between April and May this year. The highlight was Paraná, with growth of 24.1% in the month and after a sharp drop of 31.8% between March and April. In Rio Grande do Sul, the growth of 13.3% was above the national average (7%) while in Santa Catarina, the growth was 5.4%. The strong performance of Paraná is associated with the recovery in vehicle production, according to the IBGE. According to the IBGE, the slaughter of pigs totaled 11.88 million heads in the first quarter of 2020, growth of 5.2% over the same period in 2019, especially in Santa Catarina (352.09 thousand more heads). Chicken slaughter totaled 1.51 billion heads in the same period, a historic record, with growth of 5% year-on-year. Highlight for Paraná (38.31 million more heads) and Rio Grande do Sul (10.02 million heads). KPMG © 2021 KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. BD210890 Página | 18

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