BrasilAgro Companhia Brasileira de Propriedades Agrícolas : Management Proposal - Annual Shareholders’ Meeting held on January 22, 2021

Extraordinary

Shareholders' Meeting -

Management's Proposal

Table of Contents

Message from the Management	............................................................................. 3
Guidelines to Attend ................................................................................................	5
Management's Proposal ........................................................................................	11
Additional Documents ...........................................................................................	15

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Message from the Management

São Paulo, December 23, 2020.

Dear Shareholders,

In view of the Call Notice regarding the Extraordinary Shareholders' Meeting of Brasilagro - Companhia Brasileira de Propriedades Agrícolas ("Company") published today, we would like to emphasize that your attendance in the Extraordinary Shareholders' Meeting ("ESM" or "Meeting"), to be held on January 22, 2021, at 2 p.m., in an exclusively online format (digital means), is of utmost importance to us, in order to discuss and deliberate on the following agenda:

1. The approval of the acquisition, by the Company and its subsidiaries Agrifirma Agro Ltda. and Imobiliária Engenho de Maracajú Ltda., of shares issued by the following companies headquartered in Bolivia: (a) Agropecuaria Acres del Sud S.A.; (b) Ombu Agropecuaria S.A.; (c) Yatay Agropecuaria S.A.; and (d) Yuchan Agropecuarian S.A. (collectively "Target Companies", and, such acquisition, "Acquisition"); and
2. The authorization to the management of the Company to perform all acts necessary in order to implement the Acquisition and the ratification of all acts that have already been taken by the Company's management aiming at accomplishing the Acquisition.

We ask shareholders to carefully examine the documents related to the ESM that we made available on the Company's (www.brasil-agro.com), B3 S.A.'s - Brasil, Bolsa, Balcão (www.b3.com.br) and CVM's website (www.cvm.gov.br).

If you have any questions, please contact the Investor Relations Department at(55-11)3035-5374 or email [e-mail].

André Guillaumon	Gustavo Javier Lopez
Chief Executive Officer	Chief Investor Relations Officer

Eduardo S. Elsztain

Chairman of the Board of Directors

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Guidelines to Attend the Extraordinary

Shareholders' Meeting

The attendance of the Shareholders to the ESM is extremely important.

For the installation of the ESM, at first call, the presence of at least one quarter (1/4) of the Company's capital stock will be required. If the ESM is not installed due to lack of quorum, the Company will publish a new Call Notice announcing the new date for the ESM to be held on the second call, which may be installed with the presence of any number of shareholders.

Considering that the ESM will be held in an exclusively digital format, the attendance of shareholders or their legal representatives shall take place by means of access to the digital platform, for those who forward the request and the necessary documentation for virtual attendance according to the deadline provided in the Call Notice.

1. Documents

Pursuant to Article 5 of ICVM 481, in order to participate online in the ESM using "Zoom" electronic platform, shareholders, their legal representatives or their attorneys-in-fact are required to send an e-mail to the Company requesting to attend the Meeting to the electronic address ([e-mail]) up to two (2) days prior of the Meeting (i.e. January 20, 2021).

The request to attend the Meeting must contain: (i) the identification of the shareholder, legal representative or appointed attorney-in-fact; (ii) the participant's telephone number; and, (iii) the email of the ESM participant to which the Company must send the access link to the Meeting. Additionally, the documentation duly described and detailed below must be sent:

1.1. To Individuals (natural persons)

1. identity document with photo of the shareholder or, if applicable, identity document with photo of its attorney-in-fact and the respective power of attorney.

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