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Investor Presentaiton

Percentage variation (%) 25% GRAPH 1. VARIATION IN THE VALUE OF LAND STOCK IN A ZERO-DEFORESTATION SCENARIO WHERE AGRICULTURAL LAND HAS BEEN INCORPORATED, AS COMPARED TO 2017 VALUES, USING THE MUNICIPAL TERRITORIAL CLASSIFICATION SYSTEM AND AT A FEDERAL LEVEL. 30% FIGURE 3. MUNICIPAL DISTRIBUTION OF THE IMPACT OF DEFORESTATION (2011 TO 2014) AND LAND INCORPORATION FOR AGRIBUSINESS ON THE REAL PRICE OF LAND IN 2017. FOR MUNICIPALITIES LOCATED IN THE LEGAL AMAZON AND MATOPIBA, THE EFFECTS OF LAND DEPRECIATION WERE MORE INTENSE. 20% 83,5 15% 25% 45,5 10% 5% 0% -5% -10% 136,8 135 35 17,3 2,1 5% 5% 3% 1% -11,5 -15 In expansion In transition Stagnated Consolidated In crisis Brazil -9% Percentage variation in the value of land stock in a zero-deforestation scenario where the cultivated area has not been altered. Absolute variation in the value of land stock in a zero-deforestation scenario where the cultivated area has not been altered. -65 85 Absolute variation (R$ billions) [R$ 0/ha; R$ 2303/ha) [-R$ 122/ha; R$ 0/ha) [-R$ 149/ha; -R$ 122/ha) [-R$ 173/ha; -R$ 149/ha) [-R$ 196/ha; -R$ 173/ha) Source: original survey results. [-R$ 223/ha; -R$ 196/ha) [-R$ 258/ha; -R$ 223/ha) [-R$ 320/ha; -R$ 258/ha) [-R$ 4130/ha; -R$ 320/ha) Data unavailable Source: original survey results. HOW DOES BRAZILIAN AGRIBUSINESS BENEFIT FROM DEFORESTATION? 15
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