Loans and financing

6 Months Ended

Jun. 30, 2026


					Current		Non-current
Type	Average annual interest rate, range	Currency	Index	Payment terms /non-current debt	June 30, 2026	December 31, 2025	June 30, 2026	December 31, 2025
Foreign currency
ACC - Advances on exchange	4.70%	USD	—	2026	300,496	—	—	—
Export credit note	5.06%	USD	SOFR	2026	156,938	254,903	—	—
Working capital - Dollar	3.47% - 7.28%	USD	SOFR	2026 - 2030	22,299	9,859	1,646	1,832
CRA - Agribusiness Receivables Certificates	4.71% - 6.00%	USD	—	2027 - 2035	6,101	1,740	97,139	104,290
Livestock financing	6.43%	USD	—	2031	655	—	2,542	—
Notes (Bonds)	6.40%	USD	—	2057	13,501	—	983,763	—
Others	6.67%	Several	Several	Several	988	1,026	660	1,967
					500,979	267,528	1,085,751	108,089
Local currency
Notes (Bonds)	2.50% - 7.25%	USD	—	2027- 2066	354,375	295,111	17,752,925	17,793,347
CRA - Agribusiness Receivables Certificates	6.39% - 14.95%	BRL	IPCA - CDI	2028 - 2065	33,712	28,581	2,268,664	2,190,843
Revolving credit	3.50%	EUR	EURIBOR	2026	31,348	33,701	—	—
Revolving credit	5.45% - 5.75%	AUD	BBSW	2026 - 2027	135,443	—	36,711	—
Livestock financing	9.00% - 14.15%	BRL	CDI - Fixed rate	2026 - 2035	198,812	114,903	11,591	10,904

Working Capital - Euros	3.14% - 6.20%	EUR	EURIBOR	2026 - 2032	31,779	47,716	13,533	14,343

CDC - Direct credit to consumers	14.8% - 17.12%	BRL	—	2026	151	907	—	—
Others	5.13%	Several	Several	Several	48,298	44,638	146,618	139,957
					833,918	565,557	20,230,041	20,149,394

					1,334,897	833,085	21,315,792	20,257,483

On June 30, 2026 and December 31, 2025, the availability under Brasil revolving credit facilities was US$500 million. In the United States the revolving credit facilities on June 30, 2026, was US$2.9 billion and on December 31, 2025 US$3.0 billion.

The non-current portion of the principal payment schedule of loans and financing is as follows:


Maturity						June 30, 2026
2027						52,710
2028						142,163
2029						646,912
2030						124,578
2031						1,421,415
Maturities after 2031						18,928,015
						21,315,792

16.1Guarantees and contractual restrictions (“covenants”)

The Group was in compliance with all of its debt financial covenant restrictions on June 30, 2026 and until the date that these interim financial statements were approved.