SLC Agrícola S A : ITR 3Q23

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A.	Version: 1
(A free translation of the original in Portuguese)
Contents
Company Information
Capital composition	1
Individual financial statements
Balance sheet - Assets	2
Balance sheet - Liabilities	3
Statement of income	5
Statements of comprehensive income	7
Statement of cash flows (Indirect method)	8
Statement of changes in shareholders' equity
Statement of changes in shareholders' equity - 01/01/2023 to 09/30/2023	10
Statement of changes in shareholders' equity - 01/01/2022 to 09/30/2022	11
Statement of added-value	12
Consolidated financial statements
Balance sheet - Assets	13
Balance sheet - Liabilities	14
Statement of income	16
Statements of comprehensive income	18
Statement of cash flows (Indirect method)	19
Statement of changes in shareholders' equity
Statement of changes in shareholders' equity - 01/01/2023 to 09/30/2023	21
Statement of changes in shareholders' equity - 01/01/2022 to 09/30/2022	22
Statement of added-value	23
Management report and comments on performance	24
Notes to the quarterly information	47
Commentary on the Behavior of Business Projections	109
Other Information that the Company deems Relevant	115
Reports and declarations
Independent Auditor's Review Report on Quarterly Information	118
Opinion of the Fiscal Council or Equivalent Body	120
Declaration of Directors on the Financial Statements	121
Statements of Directors on the Report of the Independent Auditor	122

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A.	Version: 1
(A free translation of the original in Portuguese)

Company information / Capital composition

Number of shares	Current Quarter
(units)	09/30/2023
Paid-up capital
Common shares	226,664,858
Preferred shares	0
Total	226,664,858
Treasury shares
Common shares	6,567,702
Preferred shares	0
Total	6,567,702

Page 1 of 122

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A.		Version: 1
(A free translation of the original in Portuguese)
Individual financial statements / Balance sheet - Assets
(In thousands of Reais)
Code of	Account description	Current quarter	Previous year
account		09/30/2023	12/31/2022
1	Total assets	16,294,703	15,061,652
1.01	Current assets	5,795,480	4,982,114
1.01.01	Cash and cash equivalents	1,057,140	845,445
1.01.01.01	Cash and cash equivalents	1,057,140	845,445
1.01.03	Accounts receivable	377,494	436,158
1.01.03.01	Customers	113,853	123,834
1.01.03.02	Other Accounts Receivable	263,641	312,324
1.01.03.02.01	Advances to suppliers	8,411	9,247
1.01.03.02.02	Derivative Transacions	168,980	192,100
1.01.03.02.03	Credits with Related Parties	45,602	63,637
1.01.03.02.04	Other Accounts Receivable	40,648	47,340
1.01.04	Inventories	3,811,429	2,360,370
1.01.05	Biological assets	411,836	1,257,897
1.01.06	Recoverable taxes	95,360	73,882
1.01.06.01	Current recoverable taxes	95,360	73,882
1.01.07	Prepaid expenses	41,723	7,864
1.01.08	Other Current Assets	498	498
1.01.08.02	Discontinued Operations Assets	498	498
1.02	Non-current assets	10,499,223	10,079,538
1.02.01	Long-term assets	190,212	191,893
1.02.01.03	Financial Applications at amortized cost	1,070	747
1.02.01.03.01	Securities Held to Maturity	1,070	747
1.02.01.08	Prepaid expenses	1,967	58
1.02.01.09	Credits with related parties	1,770	0
1.02.01.10	Other Non-current Assets	185,405	191,088
1.02.01.10.03	Derivatives Transactions	28,371	51,138
1.02.01.10.04	Other Accounts Receivable	1,614	2,439
1.02.01.10.06	Recoverable taxes	155,420	137,511
1.02.02	Investments	4,533,374	4,008,749
1.02.02.01	Shareholdings	4,533,374	4,008,749
1.02.02.01.02	Investments in Subsidiaries	4,533,060	4,008,435
1.02.02.01.04	Other Investments	314	314
1.02.03	Fixed Assets	5,696,011	5,795,441
1.02.03.01	Fixed Assets in Operation	1,420,592	1,234,521
1.02.03.02	Right-of-Use in Progress	4,165,435	4,486,842
1.02.03.02.01	Asset use rights	4,165,435	4,486,842
1.02.03.03	Fixed Assets in Progress	109,984	74,078
1.02.04	Intangible	79,626	83,455
1.02.04.01	Intangibles	79,626	83,455
1.02.04.01.02	New Systems Implementation	15,295	15,710
1.02.04.01.03	Other (systems)	64,331	67,745

Page 2 of 122

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A.		Version: 1
(A free translation of the original in Portuguese)
Individual financial statements / Balance sheet - Liabilities
(In thousands of Reais)
Code of	Account description	Current quarter	Previous year
account		09/30/2023	12/31/2022
2	Total liabilities	16,294,703	15,061,652
2.01	Current liabilities	3,406,798	3,850,388
2.01.01	Social and Labor Obligations	12,972	10,621
2.01.01.01	Social obligations	10,327	10,728
2.01.01.02	Labor obligations	2,645	-107
2.01.02	Suppliers	441,100	1,090,965
2.01.02.01	National suppliers	441,091	1,090,965
2.01.02.02	Foreign suppliers	9	0
2.01.03	Tax obligations	82,669	189,140
2.01.03.01	Federal Taxes	78,416	186,716
2.01.03.01.01	Income Tax and Social Contribution Payable	51,965	149,167
2.01.03.01.02	Taxes and Contributions (Other)	26,451	37,549
2.01.03.02	State Taxes	3,360	1,626
2.01.03.03	Municipal Taxes	893	798
2.01.04	Loans and Financing	1,776,027	1,137,091
2.01.04.01	Loans and Financing	1,776,027	1,137,091
2.01.04.01.01	In Local Currency	1,776,027	1,137,091
2.01.05	Other obligations	986,017	1,320,503
2.01.05.01	Liabilities with Related Parties	4,622	6,386
2.01.05.01.02	Debts with Subsidiaries	4,349	4,106
2.01.05.01.04	Other Payables to Related Parties	273	2,280
2.01.05.02	Others	981,395	1,314,117
2.01.05.02.01	Dividends and interest on capital payable	215	291,852
2.01.05.02.04	Advances from Customers	432,557	159,845
2.01.05.02.05	Operations with Derivatives	227,429	137,320
2.01.05.02.07	Other Debts	7,932	30,413
2.01.05.02.08	Lease Liability with Related Parties	114,634	327,505
2.01.05.02.09	Lease Liabilities with Third Parties	198,628	367,182
2.01.06	Provisions	108,013	102,068
2.01.06.01	Provisions: Tax, Social, Security and Labor	107,970	102,028
2.01.06.01.01	Tax provisions	0	613
2.01.06.01.02	Social Security and Labor Provisions	44,556	26,926
2.01.06.01.03	Provisions for Employee Benefits	61,155	71,645
2.01.06.01.04	Civil provisions	54	54
2.01.06.01.05	Labor Provisions for contingencies	2,205	2,790
2.01.06.02	Other Provisions	43	40
2.01.06.02.03	Provisions for environmental liabilities and Deactivation	43	40
2.02	Non-current liabilities	7,690,820	6,612,467
2.02.01	Loans and Financing	2,927,283	2,016,280
2.02.01.01	Loans and Financing	2,927,283	2,016,280
2.02.01.01.01	In Local Currency	2,927,283	2,016,280
2.02.02	Other obligations	4,270,498	4,266,005
2.02.02.02	Others	4,270,498	4,266,005
2.02.02.02.03	Operations with Derivatives	45,480	20,074
2.02.02.02.04	Other Debts	428	520
2.02.02.02.05	Lease Liabilities with Related Parties	2,649,426	2,513,411

Page 3 of 122

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A.		Version: 1
(A free translation of the original in Portuguese)
Individual financial statements / Balance sheet - Liabilities
(In thousands of Reais)
Code of	Account description	Current quarter	Previous year
account		09/30/2023	12/31/2022
2.02.02.02.06	Third party lease liability	1,575,164	1,732,000
2.02.03	Deferred taxes	493,039	330,182
2.02.03.01	Income Tax and Social Contribution Deferred	493,039	330,182
2.03	Shareholder´s Equity	5,197,085	4,598,797
2.03.01	Capital Stock	2,012,522	1,512,522
2.03.02	Capital reserves	-62,875	(111,626)
2.03.02.01	Premium on issue of shares	17,882	26,666
2.03.02.04	Options Granted	90,103	76,022
2.03.02.05	Treasury shares	-236,716	(280,170)
2.03.02.07	Capital Reserve	65,856	65,856
2.03.04	Profit Reserves	872,843	1,891,460
2.03.04.01	Legal reserve	203,595	203,595
2.03.04.02	Statutory reserve	648,182	1,365,836
2.03.04.05	Retained Earnings Reserve	5,628	5,628
2.03.04.08	Additional Dividend Proposed	0	300,963
2.03.04.10	Incentivized Investment Reserve	15,438	15,438
2.03.05	Profits / Losses	1,039,193	0
2.03.08	Other Comprehensive Results	1,335,402	1,306,441

Page 4 of 122

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A. (A free translation of the original in Portuguese)

Individual financial statements / Statement of income

(In thousands of Reais)

Code of	Account description
account

3.01 Reven. from Sale of Goods and / or Services

3.01.01 Operating Revenue of Products

3.01.02 Variation in fair value of biological assets

3.02 Cost of Goods and / or Services Sold

3.02.01 Cost of Products

3.02.02 Realization of Fair Value of Biological Assets

3.03 Gross income

3.04 Operating Income / Expenses

3.04.01 Selling Expenses

3.04.02 General and Administrative Expenses

3.04.02.01 General and Administrative

3.04.02.02 Management's fees

3.04.04 Other Operating Income

3.04.05 Other Operating Expenses

3.04.06 Equity income

3.04.06.01 Equivalence Result for the Period

3.04.06.02 Added value of investment net IR

3.05 Income before financial result and taxes

3.06 Financial result

3.06.01 Financial income

3.06.02 Financial expenses

3.07 Income before Income Taxes

3.08 Income Tax Social Contrib. on Net Income

3.08.01 Current

3.08.02 Deferred

3.09 Net Income from Continuing Operations

3.11 Profit / Loss for the Period

3.99 Earnings per share - (R$ / Share)

Page 5 of 122

Version: 1

Current Quarter Accumulated from Current	Same Quarter Previous	Accumulated of the
07/01/2023 to 09/30/2023	Exercise	Year	Previous year
	01/01/2023 to 09/30/2023	07/01/2022 to 09/30/2022	01/01/2022 to 09/30/2022
1,534,050	5,387,672	1,111,347	5,420,496
1,204,408	3,761,929	1,092,796	3,892,497
329,642	1,625,743	18,551	1,527,999
-1,097,428	-3,531,414	-959,346	-3,348,247
-831,771	-2,385,799	-729,361	-2,031,911
-265,657	-1,145,615	-229,985	-1,316,336
436,622	1,856,258	152,001	2,072,249
-38,506	77,615	-62,752	30,242
-65,372	-177,042	-54,195	-180,925
-66,513	-211,071	-58,319	-185,266
-62,124	-192,237	-54,462	-166,085
-4,389	-18,834	-3,857	-19,181
3,028	34,090	4,025	2,371
-158	-25,867	-195	-1,689
90,509	457,505	45,932	395,751
96,261	470,912	45,966	406,606
-5,752	-13,407	-34	-10,855
398,116	1,933,873	89,249	2,102,491
-207,480	-598,119	-220,095	-577,435
56,637	304,720	72,799	485,348
-264,117	-902,839	-292,894	-1,062,783
190,636	1,335,754	-130,846	1,525,056
-25,809	-297,826	67,191	-369,668
-51,965	-145,707	-1,646	-277,003
26,156	-152,119	68,837	-92,665
164,827	1,037,928	-63,655	1,155,388
164,827	1,037,928	-63,655	1,155,388

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A.				Version: 1
(A free translation of the original in Portuguese)
Individual financial statements / Statement of income
(In thousands of Reais)
Code of	Account description	Current Quarter Accumulated from Current	Same Quarter Previous	Accumulated of the
account		07/01/2023 to 09/30/2023	Exercise	Year	Previous year
			01/01/2023 to 09/30/2023	07/01/2022 to 09/30/2022	01/01/2022 to 09/30/2022

3.99.01 Basic earnings per share

3.99.01.01 ON

0.6236

4.85655

-0.30672

5.56722

3.99.02 Diluted earnings per share

3.99.02.01 ON

0.65622

4.86421

-0.30558

5.54647

Page 6 of 122

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A.				Version: 1
(A free translation of the original in Portuguese)
Individual financial statements / Statement of Comprehensive Income
(In thousands of Reais)
Code of	Account description	Current Quarter Accumulated from Current	Same Quarter Previous	Accumulated of the
account		07/01/2023 to 09/30/2023	Exercise	Year	Previous year
			01/01/2023 to 09/30/2023	07/01/2022 to 09/30/2022	01/01/2022 to 09/30/2022
4.01	Net income for the period	164,827	1,037,928	-63,655	1,155,388
4.02	Other Comprehensive Income	-184,902	30,226	69,997	416,331
4.02.01	Cash flow hedge derivatives	-212,963	31,583	81,730	490,213
4.02.02	Cash flow hedge derivatives - Controlled	-44,346	9,381	16,057	93,589
4.02.03	Income tax and social contribution	72,407	-10,738	-27,789	-166,673
4.02.05	Assigned cost adjustment fixed assets in subsidiary	0	0	-1	-798
4.03	Total Comprehensive Result for the Period	-20,075	1,068,154	6,342	1,571,719

Page 7 of 122

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A.		Version: 1
(A free translation of the original in Portuguese)
Individual financial statements / Statement of cash flows - Indirect method
(In thousands of Reais)
Code of	Account description	Accumulated of the	Acumulated of the
account		current year	previous quarter
		01/01/2023 to 09/30/2023	01/01/2022 to 09/30/2022
6.01	Net Cash from Operating Activities	798,859	1,014,364
6.01.01	Cash Flow From Operating Activities	1,505,244	1,775,905
6.01.01.01	Net Income (loss) before income taxes	1,335,754	1,525,056
6.01.01.02	Depreciation and amortization - in results	110,233	78,473
6.01.01.03	Write-off of fixed assets	26,785	2,016
6.01.01.04	Equity Equivalence	-470,912	-406,606
6.01.01.05	Interest,exchange and monetary variation	266,415	214,808
6.01.01.06	Stock-based compensation	14,081	11,479
6.01.01.07	Variation of Biological Assets	-480,128	-211,663
6.01.01.08	Prov (reversal) Partic. results and labor contingencies	69,035	55,083
6.01.01.09	Prov (reversal) for Inventory Adjust. to market value	76,922	-928
6.01.01.10	APV - Liabilities rental	261,149	298,174
6.01.01.11	Amortization of Right of Use	276,949	193,421
6.01.01.12	Others	16,563	7,402
6.01.01.14	Provision / Loss Tax Recovery	1,863	9,190
6.01.01.15	Provision/Reversal of Credits. Doubtful Liquidationt	535	0
6.01.02	Changes in Assets and Liabilities	-706,385	-761,541
6.01.02.01	Accounts receivable	9,446	-55,339
6.01.02.02	Inventories and biological assets	-109,682	-351,330
6.01.02.03	Recoverable Taxes	-41,146	-91,904
6.01.02.04	Financial investments	-323	-45
6.01.02.05	Other accounts receivable	-42,990	-40,286
6.01.02.06	Suppliers	-668,015	-11,674
6.01.02.07	Fiscal and social obligations	-120,495	-64,301
6.01.02.08	Obligations with related parties	14,501	-80,588
6.01.02.09	Derivative transactions	273,641	160,983
6.01.02.10	Advances from customers	272,712	-178,223
6.01.02.12	Other bills to pay	-22,396	7,028
6.01.02.13	Dividends received	139,487	271,794
6.01.02.14	Advance to suppliers	836	9,934
6.01.02.15	Interest Paid	-230,869	-72,070
6.01.02.16	Income tax and social contribution paid	-181,092	-265,520
6.02	Net cash investing activities	-562,623	-409,437
6.02.02	In fixed assets	-369,469	-296,464
6.02.03	In intangible	-10,053	-35,835
6.02.04	Paid-in Capital	-183,101	-77,138
6.03	Net cash from financing activities	-24,541	229,749
6.03.01	Loans and financing taken	2,655,155	1,782,726
6.03.02	Loans and financing paid	-1,140,762	-241,825
6.03.03	Sale or repurchase of Shares	-182,984	-66,840
6.03.04	Paid leases	-671,955	-664,798
6.03.05	Dividends paid	-592,600	-504,421
6.03.07	Paid/Received Derivatives	-91,395	-44,090
6.03.08	Credit Assignment	0	-31,003

Page 8 of 122

ITR - Quarterly Information - 09/30/2023 - SLC AGRICOLA S.A.		Version: 1
(A free translation of the original in Portuguese)
Individual financial statements / Statement of cash flows - Indirect method
(In thousands of Reais)
Code of	Account description	Accumulated of the	Acumulated of the
account		current year	previous quarter
		01/01/2023 to 09/30/2023	01/01/2022 to 09/30/2022
6.05	Increase (Decrease) in Cash	211,695	834,676
6.05.01	Opening balance of cash and cash equivalents	845,445	46,046
6.05.02	Closing balance of cash and cash equivalents	1,057,140	880,722

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