<SEC-DOCUMENT>0000930413-25-002234.txt : 20250725
<SEC-HEADER>0000930413-25-002234.hdr.sgml : 20250725
<ACCEPTANCE-DATETIME>20250725121509
ACCESSION NUMBER:		0000930413-25-002234
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20250725
DATE AS OF CHANGE:		20250725

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BrasilAgro - Brazilian Agricultural Real Estate Co
		CENTRAL INDEX KEY:			0001499849
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - CROPS [0100]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-88534
		FILM NUMBER:		251150413

	BUSINESS ADDRESS:	
		STREET 1:		AV. BRIGADEIRO FARIA LIMA, 1.309
		STREET 2:		5TH FLOOR
		CITY:			S?O PAULO
		STATE:			D5
		ZIP:			01452-002
		BUSINESS PHONE:		55 (11) 3035-5352

	MAIL ADDRESS:	
		STREET 1:		AV. BRIGADEIRO FARIA LIMA, 1.309
		STREET 2:		5TH FLOOR
		CITY:			S?O PAULO
		STATE:			D5
		ZIP:			01452-002

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Kopernik Global Investors, LLC
		CENTRAL INDEX KEY:			0001599814
		ORGANIZATION NAME:           	
		EIN:				462760679
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		TWO HARBOUR PLACE, 302 KNIGHTS RUN AVE.
		STREET 2:		SUITE 1225
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33602
		BUSINESS PHONE:		813-314-6127

	MAIL ADDRESS:	
		STREET 1:		TWO HARBOUR PLACE, 302 KNIGHTS RUN AVE.
		STREET 2:		SUITE 1225
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33602
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Kopernik Global Investors, LLC -->
          <cik>0001599814</cik>
          <ccc>XXXXXXXX</ccc>
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      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Shares, no par value</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001499849</issuerCik>
        <issuerName>BrasilAgro - Brazilian Agricultural Real Estate Company</issuerName>
        <issuerCusip>10554B104</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>1309 Av. Brigadeiro Faria Lima, 5th floo</com:street1>
          <com:city>Sao Paulo</com:city>
          <com:stateOrCountry>D5</com:stateOrCountry>
          <com:zipCode>01452-002</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Kopernik Global Investors, LLC</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>4643600.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>5161700.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>5161700.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.03</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
      <comments>Based on 102,683,444 common shares outstanding as set forth in the Issuer's Form 6-K for the quarter ended March 31, 2025 filed with the Securities and Exchange Commission on May 8, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>David B. Iben</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>4643600.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>5161700.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>5161700.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.03</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <comments>Based on 102,683,444 common shares outstanding as set forth in the Issuer's Form 6-K for the quarter ended March 31, 2025 filed with the Securities and Exchange Commission on May 8, 2025.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>BrasilAgro - Brazilian Agricultural Real Estate Company</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>1309 Av. Brigadeiro Faria Lima, 5th floor, Sao Paulo, Sao Paulo 01452-002, Brazil</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This Schedule 13G is jointly filed by Kopernik Global Investors, LLC ("Kopernik Global Investors") and David B. Iben (collectively, the "Reporting Persons"). Kopernik Global Investors is an investment adviser. Mr. Iben is the controlling member and Chief Investment Officer of Kopernik Global Investors.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Two Harbour Place
302 Knights Run Avenue, Suite 1225
Tampa, FL 33602</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Kopernik Global Investors is a limited liability company organized under the laws of Delaware. Mr. Iben is a citizen of the United States of America.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>The Reporting Persons beneficially own, in the aggregate, 5,161,700 Common Shares via American Depositary Shares. None of the securities are held by the Reporting Persons. The filing of this statement shall not be construed as an admission that either of the Reporting Persons is the beneficial owner of any of the securities covered by this Schedule 13G for any other purpose.</amountBeneficiallyOwned>
        <classPercent>The number of Common Shares beneficially owned via American Depositary Shares by the Reporting Persons represents 5.03% of the Issuer's outstanding Common Shares based on 102,683,44 common shares outstanding as set forth in the Issuer's Form 6-K for the quarter ended March 31, 2025 filed with the Securities and Exchange Commission on May 8, 2025.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>4,643,600</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>5,161,700</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>N</notApplicableFlag>
        <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>Securities reported on this Schedule 13G are beneficially owned by investment advisory clients which may include investment companies registered under the Investment Company Act and/or other separately managed accounts. No such person beneficially owns over 5%.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <exhibitInfo>99.1 Joint Filing Agreement, dated July 25, 2025, by and between Kopernik Global Investors, LLC and David B.
Iben.
99.2 Power of Attorney appointing Sarah L. Bertrand, dated October 25, 2024, signed by David B. Iben.</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Kopernik Global Investors, LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/Sarah L. Bertrand</signature>
        <title>Sarah L. Bertrand General Counsel and Chief Compliance Officer</title>
        <date>07/25/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>David B. Iben</reportingPersonName>
      <signatureDetails>
        <signature>/s/ David B. Iben by Sarah L. Bertrand, power of attorney</signature>
        <title>David B. Iben by Sarah L. Bertrand, power of attorney</title>
        <date>07/25/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>

</edgarSubmission>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c113459_ex99-1.htm
<TEXT>
<HTML>
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     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit 99.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>JOINT FILING AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 24.5pt; background-color: white">In
accordance with&nbsp;Rule&nbsp;13d-1(k)(1)&nbsp;under the Securities Exchange Act of 1934, as amended, the persons named below agree to
the joint filing on behalf of each of them of a Statement on Schedule 13G and any amendments to it with respect to the American Depositary
Shares, each representing one ordinary share, no par value per share, of BrasilAgro &ndash; Brazilian Agricultural Real Estate Company
and further agree that this Joint Filing Agreement be included as an Exhibit to those joint filings. Each of the undersigned agrees to
be responsible for the timely filing of the Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information
concerning itself contained therein. This Joint Filing Agreement may be executed in any number of counterparts, all of which taken together
shall constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 24.5pt; background-color: white"><A NAME="a_Hlk176286630"></A>IN
WITNESS WHEREOF, the undersigned have executed this Joint Filing Agreement as of July 25, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">KOPERNIK GLOBAL INVESTORS, LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 47%; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>/s/Sarah L. Bertrand</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Sarah L. Bertrand</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">General Counsel and Chief Compliance Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>/s/ David B. Iben by Sarah L. Bertrand, power of attorney</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">David B. Iben by Sarah L. Bertrand, power of attorney</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>c113459_ex99-2.htm
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit 99.2</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Know all by these presents,
that the undersigned hereby makes, constitutes and appoints Sarah L. Bertrand, and with full power of substitution and re-substitution,
the undersigned&rsquo;s true and lawful attorney-in-fact (such person and her substitute being referred to herein as the &ldquo;Attorney-in-Fact&rdquo;),
with full power to act for the undersigned and in the undersigned&rsquo;s name, place and stead, in any and all capacities, to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Prepare, execute, and submit to the Securities and Exchange Commission (&ldquo;SEC&rdquo;) a Form ID, including amendments thereto,
and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with
the SEC of reports required or considered by the Attorney-in-Fact to be advisable under Section 13 or Section 16 of the Securities Exchange
Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) or any rule or regulation of the SEC; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Prepare, execute and submit to the SEC any and all reports (including any amendments thereto) the undersigned is required to file
with the SEC, or which the Attorney-in-Fact considers it advisable to file with the SEC, under Section 13 or Section 16 of the Exchange
Act or any rule or regulation thereunder, or under Rule 144 under the Securities Act of 1933, as amended (&ldquo;Rule 144&rdquo;), including
Forms 3, 4 and 5, Schedules 13D and 13G, and Forms 144.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The undersigned acknowledges that:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Power of Attorney authorizes, but does not require, the Attorney-in-Fact to act in her discretion on information provided
to such Attorney-in-Fact without independent verification of such information;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any documents prepared or executed by the Attorney-in-Fact on behalf of the undersigned pursuant to this Power of Attorney will
be in such form and will contain such information as the Attorney-in-Fact, in her discretion, deems necessary or desirable;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Attorney-in-Fact does not assume any liability for the undersigned&rsquo;s responsibility to comply with the requirements of
Section 13 or Section 16 of the Exchange Act or Rule 144, any liability of the undersigned for any failure to comply with such requirements,
or any liability of the undersigned for disgorgement of profits under Section 16(b) of the Exchange Act; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Power of Attorney does not relieve the undersigned from responsibility for compliance with the undersigned&rsquo;s obligations
under Section 13 or Section 16 of the Exchange Act, including, without limitation, the reporting requirements under Section 13 or Section
16 of the Exchange Act.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned hereby
grants to the Attorney-in-Fact full power and authority to do and perform each and every act and thing requisite, necessary or advisable
to be done in connection with the foregoing, as fully, to all intents and purposes, as the undersigned might or could do in person, hereby
ratifying and confirming all that the Attorney-in-Fact, or her substitute, shall lawfully do or cause to be done by authority of this
Power of Attorney.</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Power of Attorney
shall remain in full force and effect until the undersigned is no longer required to file Forms 4 or 5 or Schedules 13D or 13G or Forms
144, unless earlier revoked by the undersigned in a signed writing delivered to the Attorney-in-Fact.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the
undersigned has caused this Power of Attorney to be executed as of this 25th day of October, 2024.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify; width: 58%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: justify; width: 42%">/s/David B. Iben</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify">Signature</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; text-align: justify">David B. Iben</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
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