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BRAZIL CANADAAGRICULTURE FORUM

spventures

May 2021

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AgVentures Fund I

Final close (R$105m)

AgVentures Fund II

Starts Fundraising

2012 2014 2015 2016 2017 2018

SP VENTURESSTARTED SECTOR-AGNOSTIC; TODAY, AGFOOD TECH CENTRIC

AgVentures Fund II 3rd close ($30m)

AgVentures Fund II

1st & 2nd close ($23m)

2019 2020 20212009 2010 2011 2013

SP VENTURES: LEADING BRAZILIAN VC FIRM - Left Criatec I to

raise own fund

- Raised top 5 (2013) largest early stage VC funds in Brazil from diversified LP base

EARLY YEARS SP VENTURES- Screened over 1000 tech firms

- Created own proprietary deal analysis methodology

- Implemented portfolio monitoring & value add system

- Established reputation in major Brazilian tech hubs

Deals:8

Deals:28

Deals:35

SP VENTURES: LEADING AGFOOD LATAM VC FIRM- Built largest AgFood

Tech portfolio in LATAM

- Raised 1st AgFood centric early stage VC fund in Latam

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Latam: a food importing country

LATAM: 2nd largest food

exporter

LATAM: the world’s “barn”1976

2019

2030

Local scientific breakthroughs,

multinational led tech dissemination

& farmer entrepreneurship

Local scientific breakthroughs, native start-ups

led tech dissemination &

farmer entrepreneurship

ABUDANT ARABLE LAND, STATE-OF-THE-ART “TROPICALIZED”TECHNOLOGY AND INCREASINGLY SUSTAINABLE AGRIBUSINESS PRACTICES

THE FRONT AND CENTER IN FUTURE GLOBAL FOOD SUPPLY

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spventuresTHE AGRIBUSINESS GIANT

PORKORANGE

JUICEPOULTRY

BEEF

1st1st1st 4st1st1st 2nd 1th

1st1st3rd 4st2nd2nd 3rd 1th

62%23%13% 4%14%33% 9% 32%

EXP

OR

TSP

RO

DU

CTI

ON

SUGAR COFFEESOY CORN

76%1.3 bln

USD

50%7.6 bln

USD

33%6.7 bln

USD

5%5.5 bln USD

15%5.3 bln

USD

42%25.4 bln USD

14%3.7 bln

USD

25%1.5 bln

USD

1st

2nd

28%

27%0.9 bln

USD

ETHANOL

Brazil is the world’s biggest exporter of seven of the most relevant internationally traded crops, and number two in corn

Source: FAO, USDA, SECEX, Agroconsult - Calendar 2016

Agribusiness represents 25% of Brazilian GDP

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MACRO LEVEL DISCUSSION: MEDIUM-TERM IMPACT IN BEHAVIOR CONSUMPTION

Sector analysis (% Var YoY)

Food and agriculture have shown to be

the most resilience sector during the

COVID-19 crisis

AGFOOD SHOWING RESILIENCY DURING CRISIS

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spventuresTROPICAL AGRICULTURE - AN UNIQUE ENVIRONMENTUNFORESEEN COMPLEXITY WITH UNDER RESEARCHED PESTS AND DISEASES

2-3 harvests per year

Integration of crops, livestock and forestry

Native pests, diseases and weeds

80% of global biodiversity is tropical

Accelerated erosion due to more rain

Greater soil variation

Diverse and variable microclimates

Varying photoperiods in longitudinal country

Born in the 70s, turned soybeans into a tropical crop

Homegrown biological industry

Uniquely complex agribusiness conditions… Gave birth to a deep science ecosystem

Universities playing key role in high level agfood R&D

ESALQ’s tech ecosystem focused on agfood in Piracicaba/SP

As the complexity increases, greater opportunities lie ahead for the application of new technologies

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spventuresPIPELINE SUPPORTED BY STRONG RESEARCH ECOSYSTEM

▪ Creation of Embrapa in the 70’s – turned soybeans into a tropical crop

▪ Homegrown biologicals industry▪ Universities played a crucial role in producing high level

research in areas such as nutrition, entomology, breeding, soil science, genetics, veterinary medicine, meteorology, and environment

▪ ESALQ-USP (ranked #7 university in the world for Agriculture Sciences by US News & World Report) is fostering an entrepreneurial ecosystem focused on AgFood Tech at Piracicaba, named Agtech Valley preparing the country for another revolution in agriculture.

▪ Conceived in 2016, it has already achieved great success helping the city generate 18% of the total AgFood Tech startups in the entire Brazil.

BRAZIL - LEADERSHIP POSITION IN TROPICAL AGRICULTURAL SCIENCE

BRAZIL: WORLD’S FARM

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▪ Integrated chain for the development of startups, with incubators, accelerators and investment funds.

▪ Great connection with the frontier of science, in connection with research institutes and researchers at Esalq-USP.

▪ Proximity and access to the programming / IT workforce from technical reference centers

▪ Access to experimental stations for real field tests, in different crops (cane, grains, HF) and also in livestock activities.

▪ Collaborative environment of innovation, in open relationship between large agricultural groups, cooperatives and multinationals.

▪ Multinational groups that begin to partner directly with agtechs and support them during internationalization strategies.

MOST THRIVING INNOVATION

ECOSYSTEM IN BRAZIL

TROPICAL AGTECH VALLEY THRIVING TO BECOME GLOBALMAIN INNOVATION ECOSYSTEM FOR TROPICAL AGRICULTURE

BRAZIL: WORLD’S FARM

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spventuresINVESTMENT STRATEGYOUR AREAS OF INVESTING IN THE AGFOOD VALUE CHAIN

SP VENTURES SUB-SECTOR FOCUS: HIGH MID LOW FUND INVESTMENTS

BIOTECH AG DIGITAL AND OTHERS

AG

RIC

ULT

UR

ELI

VES

TOC

K

MID & DOWNSTREAM

ANIMAL BREEDING AND GENETICS

NUTRIGENOMICS

PROBIOTICS AND OTHER SUPPLEMENTS

NEW MOLECULES FOR ANIMAL HEALTH

UPSTREAM

LIVESTOCK MANAGEMENT SYSTEMS

PRECISION LIVESTOCK FARMING

IOT FOR CATTLE MONITORING

FARM MANAGEMENT SYSTEMS

AG IOT, SOIL, CLIMATE AND IRRIGATION SENSING

PRECISION AGRICULTURE SOFTWARE

SOIL ANALYSIS

DRONE/UAV MAPPING

MACHINERY DATA AND TELEMETRY

PEST AND DISEASE MONITORING

PLANT SENSING

BIOLOGICAL CONTROL FOR INTEGRATED PEST MANAGEMENT

NEW MICROBES

HIGH PERFORMANCE FERTILIZERS & INOCULANTS

PLANT GENETICS AND NEW TRAITS

GENOME DIAGNOSIS AND GENOME EDITING

AG MARKETPLACES

IOT FOR CROP AND INPUTS TRACEABILITY

NEW STORAGE SYSTEMS

NEXT GEN - INDOOR FARMING

IOT FOR FOOD QUALITY CONTROL

E-TRADING, AG-FINTECHS & BLOCKCHAIN APPLICATIONS

SATELLITE IMAGERY FOR YIELD ANALYSIS

AG CONTENT

NEW CROPS

PACKAGING & PRESERVATION SOLUTIONS

FOODTECH

ALTERNATIVE PROTEINS & NOVEL INGREDIENTS

CULTURED MEAT

RESTAURANT TECH & E-GROCERY

FOOD SAFETY AND TRACEABILITY

TASTING ANALYTICS

SMART KITCHEN, FOOD ROBOTICS & NEW PROCESSING

BETTER-FOR-YOU PRODUCTS

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spventuresVERGE AG

• Great Team • LATAM as Key Market • Access to Local Knowledge

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SP VENTURES GESTORA DE RECURSOS LTDA

Ariadne Caballero ariadne@spventures.com.br+55 11 96471-5109

Pais de Araújo street, 28, Itaim Bibi, 14º floor, CEP: 04531-090, São Paulo, SP, Brazil.

This presentation is for informational purposes only and does not constitute or form any part of any offer for sale or subscription of, or solicitation of, any offer to buy or subscribe for any securities of SP Ventures Ltda.. Ag Ventures II Investment Fund (“Company”) or any of its portfolio companies nor shall it or any part of it form the basis of, or be relied on in connection with, any contract, commitment or any investment decision whatsoever in the United States or in any other jurisdiction. The summary information herein does not purport to be complete. The information in this presentation should not be relied upon as any representation or warranty, express or implied, of the Company. No reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. The information is subject to change without notice.

The past performance of the Company is not necessarily indicative of its future performance. This presentation may contain statements that constitute forward-looking statements which involve risks and uncertainties. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the results of business operations and financial condition, industry, environment and future events and plans of the Company. Such forward-looking statements are not guarantees of future results, performance or achievements. Actual results, performance or achievements of the Company may differ from those expressed in the forward-looking statements as a result of various factors and assumptions. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. In light of these risks and uncertainties, actual events, results and developments could differ materially from those expressed or implied by the forward-looking statements. Reliance should not be placed on these forward-looking statements, which reflect the view of the Company or its officers as of the date of this presentation only. The Company does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.

None of the Company or any of its respective affiliates, advisers or representatives shall have any liability whatsoever for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation.

Neither this presentation nor any of its contents may be used without the prior written consent of the Company.