Exhibit 99.2

RIZOBACTER ARGENTINA SA

Dr. Arturo Frondizi Avenue No. 1150, Industrial Park 2700

Pergamino (Buenos Aires Province)

Annual Report and Consolidated Financial Statements for the

fiscal year ended June 30, 2025, presented comparatively –

Figures expressed in constant currency, in thousands of ARS

pesos.

Free translation from the original prepared in Spanish for publication in Argentina

RIZOBACTER ARGENTINA SA

Informative Review

In compliance with the provisions of the National Securities Commission in General Resolution No. 368/01, the Group's Board of Directors has approved this information report corresponding to the fiscal year ending June 30, 2025.

I. COMMENT ON THE ACTIVITIES OF THE RHIZOBACTER GROUP

At the end of fiscal year 42, from July 1, 2024, to June 30, 2025, the Rizobacter Group achieved total sales revenue of $205,107 million pesos, 17% more than the previous year in the same fiscal year.

The gross margin was $77.882 billion pesos, representing a 38% margin on sales revenue.

Administrative, commercial, and research expenses for the fiscal year amounted to $71.204 billion pesos, representing 35% of sales revenue, compared to $43.35 billion pesos for the previous fiscal year.

The consolidated operating result for the fiscal year was $3,671 million pesos, compared to $20,936 million for the same period of the previous fiscal year.

Net financial results reached a loss of $15.085 billion, compared to a net loss of $10.897 billion for the previous year.

The consolidated pre-tax result showed a loss of $11.414 billion pesos compared to the previous year's profit of $10.039 billion pesos.

As of June 30, 2025, the Group's liquidity level amounts to $21,141 million, registering a decrease of $58,281 million compared to the position at the beginning of the fiscal year.

Net cash flow provided by operating activities amounted to $52,027 million, net cash flow used in financing activities was $26,845 million, and net cash flow used in investing activities was $27,907 million.

Financial debt at year-end amounted to $1.7 million, structured as 76% short-term and 24% long-term. As of June 30, 2024, the debt composition was structured as 78% short-term and 22% long-term.

Millions of pesos	June 30, 2025		June 30, 2024
Current financial debt		135.017		114.234
Non-current financial debt		42.225		33.022
Total financial debt		177,242		147,256

Free translation from the original prepared in Spanish for publication in Argentina

II. STRUCTURE OF THE CONSOLIDATED FINANCIAL POSITION (values expressed in millions of pesos)

	June 30, 2025		June 30, 2024
Current Assets		238,034		314.611
Non-current Assets		237,465		89.372
Total Assets		475,499		403.983
Current Liabilities		219.111		235.189
Non-current liabilities		145.610		63,581
Total Liabilities		364,721		298,770
Controlling Equity		110,778		105.213
Non-controlling interests		-		-
Total Assets		110,778		105.213

III. CONSOLIDATED COMPREHENSIVE INCOME STRUCTURE (values expressed in millions of pesos)

	June 30, 2025			June 30, 2024
Revenue from sales of goods and services		205.107			175,323
Cost of sales		(127.225	)		(107.855	)
Changes in the net realizable value of agricultural products after harvest		82			(751	)
Administration expenses		(23.477	)		(14.696	)
Selling expenses		(44.224	)		(26.385	)
Research and development expenses		(3.503	)		(2.269	)
Share of profit or loss of joint ventures and associates		(2.141	)		(2.268	)
Other income and expenses, net		(948	)		(163	)
Operating results		3.671			20,936
Other financial results		3.083			3.016
Financial cost		(18.168	)		(13.913	)
Results before income tax		(11.414	)		10.039
Income tax		1.661			(3.785	)
Result for the year		(9.753	)		6.254
Other comprehensive income
Items that may be subsequently reclassified to profit and loss
Currency conversion effect		(605	)		61
Effect of conversion to presentation currency		32,792			71,888
Total comprehensive income		22.434			78.203

Free translation from the original prepared in Spanish for publication in Argentina

IV. CONSOLIDATED CASH FLOW STRUCTURE (values expressed in millions of pesos)

	June 30, 2025			June 30, 2024
Net cash flow provided by operating activities		52.027			10.573
Net cash flow used in investing activities		(26.845	)		(19.692	)
Net cash flow (used in)/generated from financing activities		(37.304	)		29.596
Exchange differences and changes in fair value on cash and cash equivalents		6.514			5.811
(Decrease) / Net increase in cash and cash equivalents		(5.608	)		26.288

V. CONSOLIDATED STATISTICAL DATA

Revenues to the domestic market and exports (values expressed in millions of pesos)

	June 30, 2025		June 30, 2024
Domestic Market		169,050		148,266
Foreign Market		36.057		27.057
Total revenues		205.107		175,323

Revenues in units

Product family	U. Measure	June 30, 2025		June 30, 2024
Biotechnology	dose		11,433,079		28,425,989
Baits	kilos		577,420		1,098,245
Adjuvants	liters		6,133,283		6,401,244
Fertilizers	kilos		17,504,917		32,387,251
Chance	units		4,639,910		62,477,533
Therapeutic	liters		698,279		764,705
Seed Treatment	kilos		1,013,762		1,282,753
Third Party Formulation	liters		2,481,493		3,371,380
Stored Grains	kilos		-		224.245

Free translation from the original prepared in Spanish for publication in Argentina

VI. CONSOLIDATED RATIOS

		June 30, 2025			June 30, 2024
Debt Ratio	(Total Liabilities/Total Assets)		0.77			0.74
Debt to Equity Ratio	(Total Liabilities/Equity)		3.29			2.84
Current Ratio	(Current Assets/Current Liabilities)		1.09			1.34
Quick Ratio (Acid-Test Ratio)	(Refined Current Assets/Current Liabilities)		0.74			1.04
Return on Equity (“ROE”) using period-end equity	(Results before income tax /Equity)		(0.10	)		0.10
Return on Assets	(Results before income tax /Total Assets)		(0.02	)		0.02
Equity to Total Liabilities Ratio	(Eqyity/Total Liabilities)		0.30			0.35
Non-current Assets Ratio	(Non-current Assets/Total Assets)		0.50			0.22
ROE	Net Income (Does not include ORI) / Average Equity		(0.09	)		0.06

VII. PERSPECTIVES

Global growth is slowing following rising trade barriers and greater policy uncertainty. Global growth is estimated to slow to 2.3% in 2025, with a modest recovery projected for 2026-2027. This scenario could worsen if trade restrictions intensify, or political uncertainty persists. Other risks include lower growth in major economies, geopolitical conflicts, and extreme weather events.

To counter these challenges, multilateral efforts are needed to promote a more predictable and transparent environment. Policymakers must keep inflation under control, strengthen fiscal balances, and advance structural reforms that improve institutional quality, stimulate private investment, and strengthen human capital and the labor market.

All emerging market and developing economy (EMDE) regions face a complex outlook. Growth projections for 2025 have been reduced compared to previous estimates. A slowdown is expected in East Asia, Europe and Central Asia, and to a lesser extent in South Asia. Latin America and the Caribbean are emerging as the regions with the lowest growth, affected by trade barriers and persistent structural weaknesses. In commodity -exporting regions , weakening external demand will also have a negative impact.

Argentina:

Argentina is shaping up to be the fastest-growing economy in the region in 2026, with a projected expansion of 3.9% according to the Institute for International Finance (IIF), driven by private consumption and investment following the elimination of exchange controls.

· Inflation: It is expected to continue its decline, consolidating an environment of positive real rates.

· Exchange rate: The sliding band system remains in place, with monthly adjustments of 1% and an estimated range of $1,200 to $1,600 per dollar by mid-2026.

· Current account: A slight deficit is projected due to increased imports, although offset by agricultural and energy exports.

· Reserves: They continue to be a focus of attention, with the BCRA making efforts to gradually restore them.

Agribusiness

Wheat: Production remains stable at around 15 million tons, with good performance in core areas.

Corn: Acreage recovery after the 2025 decline, with estimates of more than 50 million tons.

Free translation from the original prepared in Spanish for publication in Argentina

Soybeans: They remain the dominant crop, although with a smaller surface area than in previous years due to rotation towards corn and specialty crops.

Agroindustrial exports: Sustained growth is projected, with a focus on Asian and European markets, leveraged by agreements such as Mercosur-EU.

Regarding Rizobacter, the Board of Directors reaffirms the strategy of focusing and growing its core business lines and target countries, maintaining adequate expense control, and developing projects associated with its strategy. Although the business faced certain challenges last year due to the deteriorating economic situation of agricultural producers and high inventory levels in the channel, the Group was able to maintain its market share in the contracted market. The outlook for the upcoming campaigns is favorable, based on an improvement in the country's macroeconomic context and the normalization of the climatic conditions affecting the agricultural sector.

The Group's financial situation was affected not only by the market conditions described above but also by a context of uncertainty generated by companies linked to the economic Group. In this context, significant progress has been made in optimizing working capital and adapting the cost structure to current market conditions. Discussions are also ongoing with local financial institutions to refinance existing liabilities and restore confidence, while long-term financing options or capital increases are being analyzed for the parent company, Bioceres Crop Solutions. The Board of Directors fully trusts the company's ability to resume a sound financing structure, which is highly affected by the Group's current external situation. See note 2.3 to the financial statements.

Free translation from the original prepared in Spanish for publication in Argentina

Rizobacter Argentina SA

Consolidated Financial Statements

For the fiscal year beginning July 1, 2024, and ending June 30, 2025, presented comparatively.

Content

Consolidated Financial Statements

Consolidated Statement of Comprehensive Income

Consolidated Statement of Financial Position

Statement of Changes in Consolidated Equity

Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

Audit report issued by the independent auditors

Report of the Supervisory Commission

Free translation from the original prepared in Spanish for publication in Argentina

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Corresponding to the financial years ending June 30, 2025 and 2024

(Amounts expressed in thousands of pesos)

	Notes	June 30, 2025			June 30, 2024
Revenue from sales of goods and services			205.107.489			175,322,686
Cost of sales	7.1		(127,224,568	)		(107,854,941	)
Changes in the net realizable value of agricultural products after harvest			81,633			(750,792	)
Administration expenses	7.2		(23,476,980	)		(14,696,197	)
Selling expenses	7.3		(44,223,922	)		(26,385,080	)
Research and development expenses	7.4		(3,502,851	)		(2,268,709	)
Share of profit or loss of joint ventures and associates	12		(2,141,367	)		(2,267,782	)
Other income and expenses, net	7.5		(948.176	)		(162.545	)
Operating results			3,671,258			20,936,640
Other financial results	7.6		3,083,489			3,015,920
Financial cost	7.6		(18,167,711	)		(13,913,051	)
Results before income tax			(11,412,964	)		10,039,509
Income tax	10		1,661,384			(3,784,726	)
Result for the year			(9,751,580	)		6,254,783
Other comprehensive income			32,185,725			71,947,798
Items that may be subsequently reclassified to profit and loss			32,185,725			71,947,798
Currency conversion effect			(605.064	)		61,283
Effect of conversion to presentation currency			32,790,789			71,886,515
Total comprehensive income			22,434,145			78.202.581
Result for the year attributable to:
Shareholders of the parent company			(9,751,614	)		6,255,297
Non-controlling interests			34			(514	)
			(9,751,580	)		6,254,783
Total comprehensive income attributable to:
Shareholders of the parent company			22,433,982			78.202.719
Non-controlling interests			163			(138	)
			22,434,145			78.202.581
Earnings per share
Basic and diluted result attributable to holders of common shares of the parent company	10		(243.79	)		156.38

The accompanying Notes form part of these consolidated financial statements.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
2

STATEMENTS OF FINANCIAL POSITION

As of June 30, 2025 and 2024

(Amounts expressed in thousands of pesos)

	Notes	June 30, 2025		June 30, 2024
ASSETS
CURRENT ASSETS
Cash and cash equivalents	9.6		23,898,221		29,505,898
Other financial assets	9.3		1,086,109		7,366,956
Trade receivables and other receivables	9.5		130.025.816		122,329,793
Trade receivables and other receivables from related parties	13		5,091,434		83.812.520
Income tax credit			1,091,936		408,726
Inventories	9.4		73,985,213		71,187,216
Biological assets			2,855,245		-
Total current assets			238,033,974		314.611.109
NON-CURRENT ASSETS
Other financial assets	9.3		128		172,969
Trade receivables and other receivables	9.5		4,356,076		2.015.012
Trade receivables and other receivables from related parties	13		95.809.117		-
Deferred tax asset	10		5,902,835		2,397,141
Investments in joint ventures and associates	12		23,579,287		16,224,784
Property, plant and equipment	9.1		69,922,676		51,036,028
Intangible assets	9.2		24,557,271		7,525,451
Rigth of use assets	9.8		13,337,632		10,000,887
Total non-current assets			237.465.022		89,372,272
Total assets			475,498,996		403.983.381

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
3

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

As of June 30, 2025 and 2024

(Amounts expressed in thousands of pesos)

	Notes	June 30, 2025		June 30, 2024
LIABILITIES
CURRENT LIABILITIES
Trade and other payables	9.11		61,866,415		47,533,050
Trade payables and other payables to related parties	13		8,596,307		42,635,455
Borrowings	9.7		135,016,893		114,234,416
Related-party Borrowings	13		-		17,661,969
Employee benefits and social security	9.12		5,217,077		3,561,284
Employee benefits and social security with related parties	13		65.006		135.178
Customer advances			4,533,236		2,540,972
Income tax payable			543,586		4,307,290
Consideration for acquisition			186.401		-
Lease liability	9.8		3,085,821		2,579,704
Total current liabilities			219.110.742		235.189.318
NON-CURRENT LIABILITIES
Trade payables and other payables to related parties	13		54,980,626		30
Borrowings	9.7		42,225,148		33,021,923
Related-party Borrowings	13		13,543,010		3,103,855
Deferred tax liabilities	10		23,638,286		19,400,371
Provisions	9.9		1,094,465		819.008
Consideration for acquisition			50.173		-
Lease liability	9.8		10,078,231		7,236,137
Total non-current liabilities			145,609,939		63,581,324
Total liabilities			364,720,681		298,770,642
EQUITY
Equity attributable to the owners of the parent company			110,777,935		105.212.522
Non-controlling interest			380		217
Total Equity			110,778,315		105,212,739
Total equity and liabilities			475,498,996		403.983.381

The accompanying Notes form part of these consolidated financial statements.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
4

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

Corresponding to the financial years ending June 30, 2025 and 2024

(Amounts expressed in thousands of pesos)

	Attributable to the shareholders of the parent company																										Non- controlling interests			Total Equity
Description	Share capital		Capital adjustment		Legal reserve		Optional reserve		IFRS Special Reserve		Reserve Acquisition Controlling share			Stock-based incentives		Unassigned Results			Conversion reserve			PP & E revaluation reserve		Equity attributable to the owners of the parent company
June 30, 2023		40,000		727,612		314,704		16,489,469		1,422,225		-			978.268		1,589,033			2,798,632			1,116,425		25,476,368			355			25,476,723
Distribution of results according to the Shareholders' Meeting on October 11, 2023
- Constitution of optional reserve		-		-		-		1,589,033		-		-			-		(1,589,033	)		-			-		-			-			-
Result for the year		-		-		-		-		-		-			-		6,255,297			-			-		6,255,297			(514	)		6,254,783
Currency conversion effect		-		-		-		-		-		-			-		-			60,907			-		60,907			376			61,283
Effect of conversion to presentation currency (Note 2.5)		-		-		802.402		45,995,086		3,626,256		-			3,214,167		6,209,372			9,192,676			2,846,556		71,886,515			-			71,886,515
Total Comprehensive Income		-		-		802.402		47,584,119		3,626,256		-			3,214,167		10,875,636			9,253,583			2,846,556		78.202.719			(138	)		78.202.581
Stock incentives (Note 16)		-		-		-		-		-		-			1,533,435		-			-			-		1,533,435			-			1,533,435
June 30, 2024		40,000		727,612		1,117,106		64,073,588		5,048,481		-			5,725,870		12,464,669			12,052,215			3,962,981		105.212.522			217			105,212,739
Distribution of results according to the Shareholders' Meeting on October 15, 2024																															-
- Constitution of optional reserve		-		-		-		6,255,297		-		-			-		(6,255,297	)		-			-		-			-			-
Business Combination - Acquisition of Controlling Interest (Note 2.7)		-		-		-		-		-		(17,357,889	)		-		-			-			-		(17,357,889	)		-			(17,357,889	)
Result for the year		-		-		-		-		-		-			-		(9,751,614	)		-			-		(9,751,614	)		34			(9,751,580	)
Currency conversion effect		-		-		-		-		-		-			-		-			(605.193	)		-		(605.193	)		129			(605.064	)
Effect of conversion to presentation currency (Note 2.5)		-		-		355,805		21,927,709		1,607,973		-			1,979,577		2,015,058			3,642,433			1,262,234		32,790,789			-			32,790,789
Total Comprehensive Income		-		-		355,805		28.183.006		1,607,973		(17,357,889	)		1,979,577		(13,991,853	)		3,037,240			1,262,234		5,076,093			163			5,076,256
Stock incentives (Note 16)		-		-		-		-		-		-			489,320		-			-			-		489,320			-			489,320
June 30, 2025		40,000		727,612		1,472,911		92,256,594		6,656,454		(17,357,889	)		8,194,767		(1,527,184	)		15,089,455			5,225,215		110,777,935			380			110,778,315

The accompanying Notes form part of these consolidated financial statements.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
5

CONSOLIDATED STATEMENTS OF CASH FLOWS

Corresponding to the financial years ending June 30, 2025 and 2024

(Amounts expressed in thousands of pesos)

	Notes	June 30, 2025			June 30, 2024
OPERATIONAL ACTIVITIES
Result for the year			(9,751,580	)		6,254,783
Adjustments to reconcile profit to net cash flows
Income tax	10		(1,661,384	)		3,784,726
Financial results			870.510			11,948,010
Depreciation of property, plant and equipment	9.1		3,256,833			2,186,232
Amortization of intangible assets	9.2		1,072,724			831,050
Depreciation of leased assets	9.8		4,380,913			1,430,880
Stock options and stock incentives			1,894,624			2,225,861
Share of profit or loss of joint ventures and associates	12		2,141,367			2,267,782
Provisions for contingencies			340.122			251,800
Provision for impairment of trade receivables			6,354,993			(113,489	)
Provision for obsolescence			1,099,133			234,676
Allowance for impairment of credit notes to be issued			839,866			1,097,584
Changes in the net realizable value of agricultural products after harvest			(81,633	)		750,792
Impairment of projects under development	9.2		92.382			98.120
Proceeds from sales of equipment and intangible assets			(151,857	)		(229,926	)
Working capital adjustments
Decrease/(increase) in operating receivables			92.249.811			(52,515,603	)
(Decrease) / Increase in operating payables			(33,891,455	)		37,803,398
Increased inventories			(17,154,332	)		(9,677,507	)
Interest collected			125.486			1,943,799
Net cash flow provided by operating activities			52,026,523			10,572,968

The accompanying Notes form part of these consolidated financial statements.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
6

CONSOLIDATED STATEMENTS OF CASH FLOWS

Corresponding to the financial years ending June 30, 2025 and 2024

(Amounts expressed in thousands of pesos)

	Notes	June 30, 2025			June 30, 2024
INVESTMENT ACTIVITIES
Proceeds from sales of property, plant and equipment			370,766			306,589
Net loans granted to shareholders and other related parties			(28,275,805	)		(11,897,248	)
Proceeds from Investment			7,791,002			628,967
Investment in other financial assets			(310,890	)		(3,626,890	)
Purchase of property, plant and equipment	9.1		(4,153,072	)		(3,700,871	)
Purchase of intangible assets	9.2		(2,267,486	)		(1,402,419	)
Net cash flow used in investing activities			(26,845,485	)		(19,691,872	)
FINANCING ACTIVITIES
Proceeds from Borrowings			269,465,594			209.822.527
Repayments of borrowings			(292.235.914	)		(165,620,755	)
Interest payments			(8,811,713	)		(12.199.102	)
Leased assets payments	9.8		(5,722,346	)		(2,406,432	)
Net cash flow (used in) / generated by financing activities			(37,304,379	)		29,596,238
(Decrease) / Increase in cash and cash equivalents			(12,123,341	)		20,477,334
Exchange differences and changes in fair value on cash and cash equivalents			6,515,664			5,810,692
Net (Decrease)/Increase in cash and cash equivalents			(5,607,677	)		26,288,026
Cash and cash equivalents at the beginning of the fiscal year	9.6		29,505,898			3,217,872
Cash and cash equivalents at year-end	9.6		23,898,221			29,505,898
Net (Decrease)/Increase in cash and cash equivalents	9.6		(5,607,677	)		26,288,026

The accompanying Notes form part of these consolidated financial statements.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
7

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Index

1.	General information
2.	Accounting standards and bases of preparation
3.	New standards, amendments and interpretations issued by the IASB
4.	Summary of significant accounting policies.
5.	Critical accounting estimates and judgments
6.	Segment information
7.	Earnings per share
8.	Information on the components of the consolidated statement of financial position
9.	Information on the components of the consolidated statement of comprehensive income
10.	Income taxes
11.	Information on the components of Equity
12.	Joint ventures and associates
13.	Balances and transactions of shareholders and other related parties
14.	Cash flow information
15.	Financial Instruments – Risk Management
16.	Share-based payments
17.	Encumbered assets and restricted availability assets
18.	Contingencies, commitments and restrictions on the distribution of profits
19.	Compliance with the provisions of RG No. 629/2014 CNV.
20.	Economic context in which the Group operates
21.	Events after the reporting period

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
8

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

1. GENERAL INFORMATION

Rizobacter Argentina SA (hereinafter "Rizobacter" or "The Group") was established on October 20, 1983, in the city of Pergamino. Its purpose is to develop microbiological products for the agricultural market. Through the Group and its subsidiaries, it operates in Argentina, Brazil, Uruguay, Paraguay, Bolivia, the United States, South Africa, Colombia, and France.

Rizobacter is a company whose Articles of Incorporation were registered with the Provincial Directorate of Legal Entities of the Province of Buenos Aires on October 20, 1983 under No. 15,284 File 1/32,501 with a term established until October 19, 2082. The last modification of its Bylaws was approved by Extraordinary General Assembly No. 59 dated October 27, 2020, which is registered with the Provincial Directorate of Legal Entities of the Province of Buenos Aires on February 1, 2022.

On October 19, 2016, 50.01% of the shares of Rizobacter Argentina SA were acquired by RASA Holding LLC and then on March 15, 2019, RASA Holding LLC acquired 29.99%, becoming an 80% stake, whose sole shareholder is BCS HOLDING INC, which in turn is 100% controlled by Bioceres Crops Solutivos Corp.

The composition of Rizobacter's share capital is described below:

Ordinary shares	Subscribed and integrated (Pesos)
Class “A” VN $1 – 5 Votes		40,000,000

The evolution of the share capital is as follows:

	June 30, 2025		June 30, 2024		June 30, 2023
Share capital at the beginning of the financial year		40,000,000		40,000,000		40,000,000
Share capital at the end of the financial year		40,000,000		40,000,000		40,000,000

2. ACCOUNTING STANDARDS AND BASIS OF PREPARATION

2.1 Preparation bases

The National Securities Commission (CNV), in Title IV “Periodic Information Regime” - Chapter III “Rules relating to the form of presentation and valuation criteria of financial statements” - Article 1, of its regulations, has established the application of Technical Resolution No. 26 (RT 26) of the Argentine Federation of Professional Councils of Economic Sciences (FACPCE) and its amendments, which adopts the IFRS Accounting Standards (IFRS), issued by the International Accounting Standards Board (IASB), for certain entities included in the public offering regime of Law No. 17,811, whether for their capital or for their negotiable obligations, or that have requested authorization to be included in the aforementioned regime.

Additionally, the information required by the CNV, as indicated in Article 1, Chapter III, Title IV of RG No. 622/13, has been included. In accordance with CNV RG 873/20, the decision was made to disclose information on entities over which control, joint control, or significant influence is exercised in the notes to these financial statements.

The Consolidated financial statements are expressed in thousands of Argentine pesos ($ or “ARS”, interchangeably), without cents except for earnings per share, which are expressed at nominal value.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
9

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The preparation of these Consolidated financial statements, in accordance with the aforementioned accounting framework, requires estimates and evaluations that affect the amount of recorded assets and liabilities, and contingent assets and liabilities disclosed at the date of issuance of these Consolidated financial statements, as well as recorded income and expenses.

The Group makes estimates to calculate, for example, depreciation and amortization, the recoverable amount of non-current assets, income tax charges, certain labor charges, provisions for contingencies, labor, civil and commercial lawsuits, and bad debts. Actual future results may differ from the estimates and evaluations made at the date of preparation of these financial statements. Areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the Consolidated financial statements, are described in Note 5.

2.2 Authorization to issue the Consolidated Financial Statements

These Consolidated Financial Statements have been approved by the Group's Board of Directors on September 8, 2025.

2.3 Basis of measurement

The Group's Consolidated Financial Statements have been prepared using:

·      Accrual basis of accounting (except for cash flow reporting). Under this accounting principle, the effects of transactions and other events are recognized as they occur, even when there are no cash flows.

·      going concern basis of accounting, taking into account the conclusion of the assessment made by Group Management in accordance with the requirements of paragraph 25 of IAS 1 Presentation of Financial Statements , as described below.

During the current fiscal year, the Group faced a temporary setback as a result of challenges in the Argentine market, primarily linked to the deteriorating economic situation of agricultural producers. This situation was driven by falling commodity prices and poor yield forecasts, which significantly affected income per hectare and resulted in lower investment in key inputs such as fertilizers and crop protection products.

The decline in demand, coupled with an agricultural input market with high inventory levels resulting from aggressive purchasing in previous years, generated additional pressure on prices and a lower adoption of high-value technologies like those offered by the Group. However, despite the overall contraction in the Argentine market, market share in strategic product families was maintained.

Additionally, the Group's financial situation was unfairly affected by the uncertainty generated by Bioceres SA—a subsidiary of Bioceres Group Limited and the Group's former controlling company—which defaulted on a portion of its financial debt in June 2025. This event has significantly impacted our relationship with local financial institutions. Since the end of August 2025, they have suspended access to previously available lines of credit, forcing the Group to rely almost exclusively on internally generated cash flow to meet its financial obligations.

It's worth noting that, while the financial difficulties facing agricultural producers have had a negative impact on activity, the outlook for the upcoming campaigns is favorable. This expectation is based on an improvement in the country's macroeconomic context and the normalization of the climatic conditions affecting the agricultural sector.

In this context, the Group is evaluating and implementing various alternatives to mitigate the current financial situation. In particular, significant progress has been made in optimizing working capital and adapting the cost structure to current market conditions. Discussions are also ongoing with local financial institutions to refinance existing liabilities and restore confidence, while long-term financing options or capital increases are being analyzed for the parent company, Bioceres Crop Solutions.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
10

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The generation of sufficient cash flow to meet our financial obligations over the next twelve months will depend on the success of these initiatives, the outcome of which cannot be guaranteed as they depend on factors beyond the Group's control. This situation indicate the existence of material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern.

The accompanying consolidated financial statements do not include adjustments that might be necessary if the Group were unable to continue operating on a going concern basis, such as those related to the recoverability and classification of assets, or the amounts and classifications of liabilities.

2.4 Functional currency and presentation currency

a) Functional and presentation currency

The information included in the financial statements is recorded in dollars, which is the Company's functional currency, that is, the currency of the primary economic environment in which the entity operates. It is presented in pesos, the legal currency in Argentina, in accordance with the requirements of the CNV.

b) Foreign currency

Transactions in a currency other than the functional currency are recorded at the exchange rates applicable at the date the transactions are carried out. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rates prevailing at the end of each reporting period. Exchange differences arising from the retranslation of unliquidated monetary assets and liabilities are recognized immediately in the income statement, except when foreign currency borrowings qualify as a hedge of a net investment in a foreign operation, for which the exchange differences are recognized in other comprehensive income and accumulated in the foreign currency reserve along with exchange differences arising from the retranslation of the foreign operation.

2.5 Conversion to the Group's presentation currency

Group 's results and financial position are translated into the presentation currency as follows at the end of each financial year:

- assets and liabilities are transferred at closing exchange rates;

- the results are transferred to transactional exchange rates;

- the results of conversion from functional currency to presentation currency are recognized in “Other comprehensive income”.

2.6 Classification of Other comprehensive income within the Group's equity

The Group classifies and accumulates directly in the retained earnings account, within equity, the translation differences generated by the Group's results (accumulated at the beginning and for the year).

Following the provisions of CNV General Resolution No. 941/22, the Group presents the conversion differences arising in the accounts of reserved profits and unallocated results, directly appropriated to the items that gave rise to them.

As a result of applying the policy described above, the conversion from a functional currency to a different presentation currency does not modify the way in which the underlying elements are measured, preserving the amounts, both results and capital to be maintained, measured in the functional currency in which they are generated.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
11

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

2.7 Subsidiaries

When the Group holds a controlling interest in an entity, that entity is classified as a subsidiary. The Group exercises control over the entity if these three conditions are met:

(i)	The Group has the power to direct or order the management of the administration and policies of the entity;
(ii)	The Group is exposed to variable returns of the entity; and
(iii)	The Group has the power to affect the variability of these returns.

Control is re-evaluated when facts and circumstances indicate that there could be a change in one of these control elements.

The Group's subsidiaries, all of which were included in the Group's consolidated financial statements, are listed below.

The Group holds a majority stake in the voting rights in all subsidiaries.

Denomination	Main activities	Country of incorporation and registered office	Percentage of shareholding
			June 30, 2025	June 30, 2024
Rizobacter do Brasil Ltda.	Sale of agricultural inputs	Brazil	100.00%	100.00%
Rizobacter del Paraguay SA	Sale of agricultural inputs	Paraguay	99.90%	99.90%
Rizobacter Uruguay	Sale of agricultural inputs	Uruguay	100.00%	100.00%
Rizobacter South Africa	Sale of agricultural inputs	South Africa	95.00%	95.00%
Eat. Agrop . Rizobacter de Bolivia SA	Sale of agricultural inputs	Bolivia	99.95%	99.95%
Rizobacter USA, LLC	Sale of agricultural inputs	USA	100.00%	100.00%
Rizobacter Colombia SAS	Sale of agricultural inputs	Colombia	100.00%	100.00%
Rizobacter France SAS	Sale of agricultural inputs	France	100.00%	100.00%
Bioceres Semillas SAU	Production and marketing of seeds	Argentina	100.00%	-

In June 2025, the Group entered into a share purchase agreement with its parent company, Bioceres Crop Solutions, through which it acquired 100% of the share capital of Bioceres Semillas SAU, an entity belonging to the same economic group. Bioceres Semillas is dedicated to the development and commercialization of seed technologies, focusing on high agronomic value and environmental benefits. The acquisition price was set at AR$2.9 million.

Since this is a business combination under common control, the transaction is excluded from the scope of IFRS 3. In line with the group's accounting policies, the Company applied the predecessor value method, which involves recording the acquired assets and liabilities using their previous carrying amounts. The difference between these carrying amounts and the acquisition price was recognized as a reserve in the acquirer's equity.

2.8 Conversion of financial statements of foreign businesses

The results and financial position of all subsidiaries (none of which have the currency of a hyperinflationary economy) that have a functional currency different from the Group's presentation currency are translated into the presentation currency as follows:

- Assets and liabilities at the end of the financial year are translated at the exchange rate on that date,

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
12

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

- Income and expenses are translated at the average exchange rate (unless such average does not represent a reasonable approximation of the cumulative effect of the exchange rates in effect at the date of each transaction, in which case such income and expenses are translated at the exchange rate in effect at the date of each transaction), and

- The resulting exchange differences are presented in other comprehensive income.

Goodwill and fair value adjustments arising from the acquisition of foreign entities are treated as assets and liabilities of the foreign entity and are translated at the exchange rate prevailing at closing. The resulting exchange differences are recognized in other comprehensive income.

When an investment is sold or disposed of, in whole or in part, exchange differences are recognized in the income statement as part of the gain or loss on sale/disposal.

3. NEW STANDARDS, AMENDMENTS AND INTERPRETATIONS ISSUED BY THE IASB

a) The new standards indicated below are applicable to the current reporting period and are adopted by the Group.

-	IFRS 17, Insurance Contracts
	This standard replaced IFRS 4, which permitted a wide variety of accounting practices for insurance contracts. IFRS 17 fundamentally changes the accounting practices of all entities that issue insurance contracts.
	IFRS 17, “Insurance Contracts,” applies to insurance contracts regardless of the entity that issues them, so it does not apply only to traditional insurance entities.

-	Limited scope amendments to IAS 1, Practice Statement 2 and IAS 8
	These amendments are intended to improve accounting policy disclosures and help users of financial statements distinguish between changes in accounting estimates and changes in accounting policies.

-	Amendment to IAS 12 – Deferred tax relating to assets and liabilities arising from a single transaction
	These amendments require entities to recognize deferred taxes on transactions that, upon initial recognition, give rise to equal amounts of taxable and deductible temporary differences.

-	Amendment to IAS 12 - International Tax Reform
	These amendments provide entities with temporary relief from accounting for deferred taxes arising from the international tax reform of the Minimum Tax Implementation Manual. The amendments also introduce specific disclosure requirements for affected companies.

-	IFRIC Agenda Decision - Disclosure of Revenue and Expenses for Reportable Segments (IFRS 8)
	At its July 2024 meeting, the IASB approved an IFRS CI agenda decision related to segment reporting. The decision addresses specific items of income and expense that should be disclosed for each reportable segment. Entities may find this agenda decision has implications for their segment reporting. The agenda decision is final and effective immediately.

-	Amendment to IFRS 16 – Sale and Leaseback
	These amendments include requirements for sale and leaseback transactions in IFRS 16 to explain how an entity accounts for a sale and leaseback after the transaction date. Sale and leaseback transactions in which some or all of the lease payments are variable lease payments that do not depend on an index or rate are more likely to be affected.

-	Amendment to IAS 1 – Non-current liabilities with agreements
	These amendments clarify how conditions that an entity must meet within twelve months of the reporting period affect the classification of a liability. The amendments also aim to improve the information an entity provides regarding liabilities subject to these conditions.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
13

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

-	Amendment to IAS 7 and IFRS 7 - Supplier Financing
	These amendments require disclosures to improve the transparency of supplier financing arrangements and their effects on liabilities, cash flows, and liquidity risk exposure. The disclosure requirements are the IASB's response to investor concerns that some companies' supplier financing arrangements are insufficiently visible, making investor analysis difficult.

These modifications did not have a significant impact on the Group.

b) The new standards listed below have not yet been adopted by the Group.

- Amendments to IFRS 9 and IFRS 7 – Classification and Measurement of Financial Instruments - The amendments are effective for annual reporting periods beginning on or after 1 January 2026.

- Amendments to IAS 21 — The Effects of Changes in Foreign Exchange Rates in the Absence of Convertibility. The amendments are effective for annual reporting periods beginning on or after January 1, 2025.

- IFRS 19 — Subsidiaries Not Publicly Accountable . The standard is effective for annual reporting periods beginning on or after January 1, 2027.

- IFRS 18 — Presentation and Disclosure in Financial Statements. The standard is effective for annual reporting periods beginning on or after January 1, 2027.

The new rules and amendments mentioned above are not expected to have a material impact on the Group.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

4.1. Cash and cash equivalents

For the purposes of the statements of financial position and cash flow statements, cash and cash equivalents include cash on hand and at banks, and short-term, highly liquid investments. These investments can be readily converted into known amounts of cash and are subject to a small risk of change in value. In the consolidated statements of financial position, bank overdrafts are included in Borrowings under current liabilities.

4.2. Inventories

They are initially recorded at cost and subsequently at cost or net realizable value, whichever is lower. Cost includes all purchase costs, conversion costs, and other costs incurred in bringing inventories to their current condition and location.

Weighted average cost is used to determine the cost of normally interchangeable items.

Estimates - Provision for obsolescence and low inventory turnover

The Group assesses the recoverability of inventory by considering its selling price, whether it is damaged, and whether it is obsolete in whole or in part.

Net realizable value is the selling price estimated to be achieved in the ordinary course of business, less completion costs and other selling expenses.

The Group establishes an allowance for obsolescence or slow inventory turnover for finished goods and goods in progress. The allowance for obsolescence or slow inventory turnover is recognized for finished goods and goods in progress based on an analysis conducted by management of inventory aging.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
14

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

4.3. Biological assets

Growing crops are included as biological assets in current assets from planting to harvest (approximately 5 to 7 months depending on the crop). At harvest, biological assets are transformed into agricultural products, including seed varieties for resale, and are included in inventory.

Costs are capitalized as biological assets if, and only if, (a) it is probable that the entity will receive the future economic benefits, and (b) the cost can be measured reliably. The Group capitalizes costs such as planting, harvesting, weeding, seedlings, irrigation, agrochemicals, fertilizers, and the systematic allocation of fixed and variable production overheads that are directly attributable to the management of biological assets, among others.

Biological assets, both at initial recognition and at the subsequent reporting date, are measured at fair value less costs to sell, except where fair value cannot be measured reliably. Cost approximates fair value when little biological transformation has occurred since the costs were originally incurred or the impact of biological transformation on price is not expected to be significant.

Gains and losses arising from the measurement of biological assets at fair value less costs to sell and from the measurement of agricultural production at harvest at fair value less costs to sell are recognized in the statement of income in the period in which they arise under Initial recognition and changes in fair value of biological assets.

From the moment of harvest, agricultural products are measured at net realizable value because they are a market asset and the risk of not being sold is not significant.

Generally, the fair value estimate for biological assets is based on models or unobservable market information, and the use of unobservable information is significant to the overall valuation of the assets. Unobservable information is determined based on available information. Key assumptions include future market prices, estimated yields at harvest, estimated production cycle, future cash flows, future harvesting and other costs, and estimated discount rates.

Market prices are generally determined by reference to information observable in the primary market for agricultural products. Harvesting and other costs are estimated based on historical and statistical information. Yield is estimated based on various factors, including field location and soil type, environmental conditions, infrastructure and other constraints, and growth at the time of measurement. Yield is subject to a high degree of uncertainty and may be affected by various factors beyond the Group's control, including, but not limited to, extreme or unusual weather conditions, pests, and other grain diseases.

4.4. Impairment of non-financial assets (excluding inventories and deferred tax assets)

Intangible assets that are not yet available for use or have an indefinite useful life are tested for impairment annually at the end of the reporting period. Other non-financial assets are tested for impairment when events or changes in circumstances occur that indicate their carrying amount may not be recoverable. When an asset's carrying amount exceeds its recoverable amount (i.e., the higher of value in use and fair value less costs to sell), the asset is written down accordingly.

When it is not possible to estimate the recoverable amount of an individual asset, impairment testing is performed on a small group of assets to which it belongs, for which cash flows are separately identifiable (its Cash Generating Unit or CGU).

Impairment charges are included in the income statement unless they reverse profits previously recognized in Other comprehensive income.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
15

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Estimate - Recoverability of intangible assets

Impairment tests on intangible assets that are not yet available for use or have an indefinite useful life require significant assumptions for estimating future cash flows and determining discount rates. Significant assumptions and the determination of discount rates for impairment testing are explained in more detail in Note 9.2.

4.5. Business combinations under common control

Business combinations under common control are excluded from the scope of IFRS 3. There is no other specific guidance on this topic in IFRS. Therefore, management should use its judgment to develop an accounting policy that provides relevant and reliable information in accordance with IAS 8. Management's chosen accounting policy for business combinations under common control is the Predecessor Value Method. This method involves recording the assets and liabilities of the acquired business using the existing carrying amounts. Differences between the carrying amount and the amount payable should be recorded as a contribution to equity.

The accounting policy chosen by Management is to use a prospective presentation method.

4.6. Joint agreements

An associate is an entity over which the Group exercises significant influence. Significant influence is the ability to participate in decision-making related to the entity's financial and operating policies, but without control or joint control over those policies.

The Group is a party to a joint arrangement when there is a contractual agreement granting joint control over the relevant activities of the arrangement to the Group and at least one other party. Joint control is determined under the same principles as control over subsidiaries.

The Group classifies its interests in joint arrangements in one of the following ways:

- Joint ventures : if The Group is entitled only to the net assets of the joint arrangement.

- Joint operations : whether The Group has both the rights to the assets and the obligations to the liabilities of the joint arrangement.

When determining the classification of interests in joint arrangements, the Group considers the following aspects:

- the structure of the joint agreement;

- the legal form of joint arrangements structured through a separate instrument;

- the contractual terms of the joint agreement;

- any other fact or circumstance (including any other contractual agreement).

The Group accounts for its interests in joint ventures using the equity method if its share of post-acquisition profit and loss and other comprehensive income is recognized in the consolidated statement of profit or loss and other comprehensive income.

Losses that exceed the Group's investment in the joint venture are recognized only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the joint venture.

Results arising from transactions between the Group and its joint ventures are recognized only to the extent of unrelated investors' interests in the joint ventures. The Group's share of the joint venture's profit or loss arising from a transaction is eliminated from the carrying amount of the investment in the joint venture under "Equity in profit (or loss) of joint ventures" in the consolidated statement of profit or loss and other comprehensive income.

Premiums paid on an investment in a joint venture that exceed the fair value of the Group's share of the acquired identifiable assets, liabilities, and contingent liabilities are capitalized and included in the carrying amount of the investment in the joint venture. If there is objective evidence of impairment of the investment in the joint venture, the carrying amount of the investment is tested for impairment in the same manner as for other non-financial assets.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
16

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

If the Group loses significant influence over an associate or joint control over a joint venture, it measures and recognizes its investments at fair value. The differences between the carrying amount of the associate or joint venture upon losing significant influence or joint control and the fair value of the investment and the sales revenue are recognized in the income statement.

The Group accounts for its interests in joint operations by recognizing its share of assets, liabilities, income and expenses in accordance with contractual rights and obligations.

For all joint arrangements structured in consolidated instruments, the Group must assess the substance of the joint arrangement when determining whether to classify it as a joint venture or joint operation . This assessment requires the Group to consider whether it has rights to the net assets of the joint arrangement (in which case it is classified as a joint venture) or rights and obligations in respect of specific assets, liabilities, expenses and revenues (in which case it is classified as a joint operation).

Estimates

There is uncertainty related to Management's estimates of the Group's ability to recover the carrying amounts of investments in joint ventures, as these estimates depend on the joint venture's ability to generate sufficient funds to complete development projects, the future outcome of the deregulation process for the projects, and the amounts and timing of cash flows from the projects, among other future events.

Management assesses whether there are indicators of impairment and, if so, performs a recoverability analysis.

Management's estimates of the recoverability of these investments represent the best estimate based on available evidence and existing facts and circumstances, using reasonable and probable assumptions in cash flow projections.

Therefore, the consolidated financial statements do not include adjustments that would be necessary if the Group were unable to recover the carrying amount of the aforementioned assets by generating sufficient economic benefits in the future.

4.7. Property, plant and equipment

Property, plant, and equipment items are initially recognized at cost. In addition to the purchase price, cost also includes costs directly attributable to the property, plant, and equipment items. There are no unavoidable costs with respect to dismantling and disposal items.

Depreciation is calculated primarily using the straight-line method to allocate the cost or appraised values of property, plant and equipment, net of their residual values, over their estimated useful lives as follows:

Office equipment: 10 years

Vehicles: 5 years

Computer software and equipment: 3 years

Property by accession and useful assets: 10 years

Machinery and equipment: 10 years

Buildings: 50 years

However, for certain assets whose utilization is directly linked to the level of production, depreciation is determined using the units-of-production method, so that the depreciation charge reflects the actual pattern of consumption of the asset's future economic benefits.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
17

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The useful life and depreciation methods are reviewed annually in accordance with IAS 16.

The assets included in the Land and Buildings items are recorded at the fair value arising from the last revaluation performed in 2023, applying the revaluation model indicated by IAS 16.

Beginning with the fiscal year ended June 30, 2024, the Group modified its valuation policy for property, plant, and equipment and changed the revaluation frequency for items classified as land and buildings. Revaluations should never exceed five years in compliance with the maximum periods established by accounting standards, or if there are indications that the carrying amount differs significantly from the amount that could be determined using fair value at the end of the reporting period.

To obtain fair values, the existence or absence of an active market for assets in their current condition is considered. For assets for which an active market exists in their current condition, fair values are determined based on their market values. In all other cases, the market values of new comparable assets are analyzed by applying a discount based on the condition and wear and tear of each asset and considering the characteristics of each revalued asset (e.g., improvements made, maintenance status, productivity level, usage, etc.).

Estimates

The Group records certain types of property, plant and equipment using the revaluation method in accordance with IAS 16. The revaluation model requires the Group to record property, plant and equipment at their revaluation value, which is their fair value at the revaluation date less any subsequent accumulated depreciation and any subsequent accumulated impairment losses. IAS 16 requires the Group to perform these revaluations with sufficient regularity so that the carrying amounts of property, plant and equipment do not differ significantly from those that would be determined using fair value at the end of the reporting period. Determining fair value at the revaluation date requires judgments, estimates and assumptions based on market conditions prevailing at the time of the revaluation. Changes in the Group's judgments, estimates and assumptions or in market conditions following a revaluation will change the fair value of the property, plant and equipment.

The Group prepares the appropriate revaluations regularly, taking into account the work of independent valuers. The Group uses different valuation techniques depending on the type of property being valued. Generally, the Group determines the fair value of buildings and industrial warehouses based on depreciated replacement cost. The Group determines the fair value of its land based on active market prices, adjusted, if necessary, for differences in the nature, location, or condition of the specific asset. If this information is unavailable, the Group may use alternative valuation methods, such as current prices in less active markets.

Property valuation is a significant area of estimation uncertainty. Management regularly prepares fair values based on independent valuations. The determination of fair value for different classes of property, plant, and equipment is sensitive to the selection of significant assumptions and estimates. Changes in significant estimates and assumptions could significantly affect the determination of the revalued values of property, plant, and equipment. The Group uses historical experience, market information, and other internal information to determine and/or review appropriate revalued values.

The most significant assumptions used in preparing the revalued values for classes of property, plant and equipment are included below:

a)Land: In general, the Group uses the market price per square meter for the same or similar location as the most significant assumption in determining the appraised value. The Group typically uses sales of comparable land in the same location to determine the adequacy of its land value.

b)Industrial buildings and warehouses: The Group generally determines the construction cost of a new asset and then adjusts it for natural wear and tear. Construction prices may include, among others, construction materials, labor costs, installation and assembly costs, site preparation, professional fees, and applicable taxes. Construction costs can differ significantly from year to year and are subject to macroeconomic changes in the Group's operating location, such as the impact of inflation and exchange rates. The construction cost of industrial buildings and warehouses is determined at the rate of one US dollar per square meter built . A 5% increase or decrease in construction costs or the estimate of natural wear and tear related to the assets could have an impact of $1,699 million on revalued values.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
18

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Increases in carrying amounts arising from the revaluation of land and buildings are recognized, net of tax, in Other comprehensive income and accumulated in reserves in equity. To the extent that the increase reverses a decrease previously recognized in profit or loss, the increase is recognized first in profit or loss. Decreases that reverse previous increases in the same asset are first recognized in Other comprehensive income up to the remaining surplus attributable to the asset; all other decreases are charged to profit or loss.

4.8. Leases

Leases are recognized as a right-of-use asset and corresponding liability on the date the leased asset is available for use by the Group. Each lease payment is allocated between the liability and the finance cost. The finance cost is charged to profit or loss over the lease term to produce a constant periodic interest rate on the remaining balance of the liability for each period. The right-of-use asset is depreciated on a straight-line basis over the asset's useful life or the lease term, whichever ends first.

To determine the lease term, we consider all facts and circumstances that create an economic incentive to exercise the extension option or not exercise the termination option. Extension options (or periods following termination options) are only included in the lease term if there is a reasonable certainty that the lease will be extended (or not terminated).

Short-term leases are recognized on a straight-line basis as an expense in the income statement.

At initial recognition, the right-of-use asset is measured at the initial measurement value of the lease liability; the lease payments made on or before the commencement date, less lease incentives and initial direct costs incurred by the lessee. After initial recognition, right-of-use assets are measured at cost, less any accumulated depreciation and/or impairment losses, and adjusted for any remeasurements of the lease liability. Depreciation of the right-of-use asset is calculated using the straight-line method over the estimated term of the lease.

The lease liability is initially measured at the present value of the lease payments not yet paid at that date, including variable lease payments that depend on an index or rate, initially measured using the index or rate as of the commencement date; amounts expected to be paid by the lessee pursuant to residual value guarantees; the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; penalty payments upon termination of the lease, if the term indicates that the lessee will exercise the option to terminate the lease; and fixed payments, less lease incentive payments receivable. After the commencement date, we measure the lease liability by increasing the carrying amount to reflect the interest on the lease liability; decreasing the carrying amount to reflect the lease payments made; and remeasuring the carrying amount to reflect any revaluations or lease modifications.

The aforementioned data for the valuation of right-of-use assets and lease liabilities, including the determination of contracts within the scope of the standard, the contractual term, and the interest rate used in discounted cash flows, used estimates made by Management.

4.9. Intangible assets

a) Intangible assets acquired

Acquired intangible assets are initially recognized at fair value at the acquisition date (cost). After initial recognition, these assets are measured at cost less accumulated amortization and accumulated impairment losses .

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
19

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The intangible assets acquired have an estimated useful life (in years) as follows:

Software: 3 years

Trademarks and patents: 5 years

The useful life and amortization methods are reviewed annually in accordance with IAS 38.

Estimates

To measure the value of acquired intangible assets, generally accepted market measurement techniques are applied, primarily based on revenue recognition (such as excess profits, royalty exemptions, and "with or without"), considering the characteristics of the assets to be measured and the information available to estimate their fair value at the acquisition date. The application of these measurement techniques requires the use of several assumptions related to future cash flows and the discount rate.

b) Internally generated intangible assets (development costs)

Expenses related to internally developed products are capitalized if the following can be demonstrated:

- It is technically possible to develop the product for sale;

- the necessary resources are available for its development;

- there is an intention to complete and sell the product;

- The Group may sell the product;

- the sale of the product will generate future economic benefits;

- Project-related expenses can be reliably measured.

Development expenses that do not meet the above criteria and expenses related to the research phase of internal projects are recognized in the statement of income and other comprehensive income as incurred.

Capitalized development costs of completed projects are amortized using the straight-line method over the periods in which the Group expects to benefit from the sale of the developed products.

The useful life and amortization methods are reviewed annually in accordance with IAS 38.

The research and development process can be divided into several steps or phases, which will generally begin with discovery, validation and development, and end with regulatory approval and commercial launch.

4.10.  Investment properties

Investment properties should initially be measured at cost. The cost of a purchased investment property includes its purchase price and directly attributable expenses. Directly attributable expenses include, for example, professional legal fees, property transfer taxes, and other operating costs.

In the measurement after initial recognition, the Group decided to adopt the cost model for all investment properties.

4.11.  Financial assets and liabilities

The Group initially recognizes its financial assets and liabilities at fair value and then at amortized cost using the effective interest rate method.

The Group has not irrevocably designated a financial asset or liability as measured at fair value through profit or loss to eliminate or significantly reduce inconsistencies in measurement or recognition.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
20

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Financial assets or liabilities at fair value through profit or loss are measured at fair value through profit or loss due to the business model used in their trading and/or the contractual characteristics of their cash flows.

Estimates

The Group estimates the collection of recorded receivables. Management analyzes trade receivables according to conventional criteria, adjusting the amount by charging an allowance for doubtful accounts to recognize third parties' inability to pay their financial obligations to the Group. Management specifically analyzes receivables, historical bad debts, customer solvency, current economic trends, and changes in customer payment terms to determine the appropriate allowance for doubtful accounts.

Offsetting financial assets with financial liabilities

Financial assets and liabilities are offset and the net amount is reported in the statement of financial position only when the Group has a legally enforceable right to offset the recognised amounts and there is an intention to pay on a net basis, or to settle the asset and settle the liability simultaneously.

4.12.  Borrowings

The Group initially recognizes its Borrowings at fair value and subsequently measures them at amortized cost using the effective interest rate method.

Borrowing costs, whether generic or specific, attributable to the acquisition, construction, or production of assets that require a substantial period of time before being ready for their intended use or sale (qualifying assets) are included as part of the cost of such assets until they are ready for use or sale. Income from temporary investments of funds generated from specific borrowings still outstanding in qualifying assets is deducted from the total financing costs potentially eligible for capitalization.

All other borrowing-related costs are recognized in finance costs through profit or loss.

4.13.  Employee benefits

Employee benefits are expected to be fully settled within 12 months of the reporting period and are presented as current liabilities.

Accounting policies related to share-based incentive payments are detailed in Note 16.

4.14.  Provisions

Provisions are recognized in the financial statements when:

a)	The Group has a present obligation (whether legal or constructive) as a result of a past event,
b)	it is probable that an outflow of resources will be necessary to settle such obligation, and
c)	a reliable estimate of the amount of the obligation can be made.

Provisions are measured at the present value of the expected disbursements required to settle the obligation, taking into account the best information available at the date the financial statements are prepared, and are re-estimated at each reporting date. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments, at the balance sheet date, of the time value of money, as well as the specific risk associated with the particular liability. The increase in the provision over time is recognized as interest expense.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
21

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

4.15.  Revenue recognition

Revenue from ordinary activities arising from contracts with customers is recognized and measured based on a five-step model, namely:

·      Identification of the contract with the client, understanding a contract as an agreement between two or more parties, which creates rights and obligations for the parties;

·      Identification of performance obligations, issuing as such a commitment arising from the contract to transfer a good or service.

·      Determination of the transaction price, in reference to the consideration for satisfying each performance obligation.

·      Allocation of the transaction price between each of the identified performance obligations, based on the methods described in the standard.

Revenue recognition when performance obligations identified in contracts with customers are satisfied, either at a given point in time or over a period of time.

a) Sales of goods

The Group manufactures and markets a wide range of microbiological products for agricultural use. Revenue from ordinary activities arising from the sale of goods is recognized when all of the following conditions are met:

·      The Group has transferred to the buyer the significant risks and rewards arising from ownership of the goods;

·      The Group does not retain any involvement in the day-to-day management of the assets sold, to the extent usually associated with ownership, nor does it retain effective control over the assets sold;

·      the amount of revenue from ordinary activities can be measured reliably;

·      it is probable that the Group will receive the economic benefits associated with the transaction; and

·      the costs incurred, or to be incurred, in connection with the transaction can be measured reliably.

b) Provision of services

The Group provides microbiological product application services. For the sale of services, revenue is recognized in the period in which the services are provided, by reference to the completion stage of the specific transaction, and evaluated based on the actual service provided as a proportion of the total services to be provided.

c) Royalty licenses

Royalty income from the use of licensed intellectual property rights is recognized on the later of the date the performance obligation is satisfied and the date the sale or use occurs.

4.16.  Current and deferred income tax

Recognition of deferred tax assets is limited to those instances where it is probable that taxable income will be available and the difference can be offset against it.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
22

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The amount of the asset or liability is determined using the tax rates that have been imposed or substantially imposed at the end of the reporting period and are expected to be applied when the deferred tax liability/(asset) is settled/(recovered).

Deferred tax assets and liabilities are offset when the Group has an enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority, whether on:

-      the same tax entity within the Group, or

-      different entities within the Group that intend to settle current tax assets and liabilities on a net basis or realize the assets and settle the liability simultaneously in each future period in which significant amounts of deferred tax assets or liabilities are expected to be settled or recovered.

5. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS

The Group makes certain estimates and assumptions about the future. These estimates and judgments are constantly evaluated based on historical experience and other factors, including expectations of future events that are considered reasonable under the circumstances. Actual performance in the future could differ from these estimates and assumptions. The estimates and assumptions that carry a material risk of causing significant adjustments to the carrying amount of assets and liabilities during the following financial year are listed below.

Critical estimates

- Impairment test for intangible assets. (Note 4.9)

- Going concern accounting principle. (Note 2.3)

6. INFORMATION BY SEGMENTS

The Group is organized into three main operating segments:

Seeds and integrated products

The Seeds and Integrated Products segment focuses primarily on the development and marketing of seed technologies and products that increase yield per hectare. By focusing on seed technologies integrated with crop protection and nutrition products designed to control weeds, insects, or diseases, improved quality, nutritional value, and other benefits are achieved. The segment focuses on the marketing of integrated products that combine three components: biotechnology events, germplasm, and seed treatments, to increase crop productivity and generate value for customers. While each component can increase yield independently, through an integrated technology strategy, the segment offers products that complement and integrate each other to generate higher crop yields.

Starting this year, we have made the strategic decision to exit seed breeding, production, and sales activities and instead establish partnerships with industry leaders better equipped to carry out these activities. Our focus will be on obtaining cutting-edge science and profitably developing proprietary genetic traits for seeds through commercial approval, and participating in the revenues from our strategic partnerships through licensing royalties.

Currently, the segment generates revenue from ordinary activities through the sale of seeds, integrated product packs, royalties and licenses collected from third parties, among other things.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
23

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Crop protection

The crop protection segment primarily includes the development, production, and marketing of high-tech adjuvants and a full range of pest control molecules and biocontrol products . Adjuvants are used in mixtures to facilitate the application and effectiveness of active ingredients, such as insecticides. This improves yield, reduces use rates, and lowers residue levels. Insecticides and fungicides are applied to control pests and significantly reduce diseases during the germination period.

Currently, the segment generates revenue from ordinary activities through the sale of adjuvants, insecticides, fungicides, and baits, among others.

Crop nutrition

The crop nutrition segment focuses primarily on the development, production, and marketing of inoculants that enable biological nitrogen fixation in crops, and fertilizers, including biofertilizers and microgranular fertilizers that optimize crop productivity and yield.

Currently, the segment generates revenue from its ordinary activities through the sale of inoculants, bioinducers , biological fertilizers and microgranulated fertilizers , among others.

The measurement principles used by the Group to present its segment financial information are based on the principles of IFRS standards adopted in the consolidated financial statements. Revenue generated from products and services exchanged between segments and entities of the Group is calculated based on market prices.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
24

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The following tables present the Group's financial information by segment:

Fiscal year ended June 30, 2025	Seeds and integrated products			Crop protection			Crop nutrition			Consolidated
Revenue from contracts with clients
Sale of goods and services		31,936,903			111,567,217			61,603,369			205.107.489
Changes in the net realizable value of agricultural products after harvest		81,633			-			-			81,633
Total		32,018,536			111,567,217			61,603,369			205.189.122
Cost of sales		(16,757,576	)		(70,033,241	)		(40,433,751	)		(127,224,568	)
Gross profit by segment		15,260,960			41,533,976			21,169,618			77,964,554
% Gross Margin		48	%		37	%		34	%		38	%

Fiscal year ended June 30, 2024	Seeds and integrated products			Crop protection			Crop nutrition			Consolidated
Sale of goods and services		31,828,111			81,660,151			61,834,424			175,322,686
Changes in the net realizable value of agricultural products after harvest		(750,792	)		-			-			(750,792	)
Total		31,077,319			81,660,151			61,834,424			174,571,894
Cost of sales		(18,523,563	)		(53,113,523	)		(36,217,855	)		(107,854,941	)
Gross profit by segment		12,553,756			28,546,628			25,616,569			66,716,953
% Gross Margin		40	%		35	%		41	%		38	%

Geographic information on revenue

	June 30, 2025		June 30, 2024
Argentina		169,050,450		148,265,905
Brazil		13,206,036		7,241,225
Uruguay		8,919,643		5,033,509
Paraguay		5,931,318		4,840,921
Bolivia		948,390		707.027
Mexico		895.214		-77.019
South Africa		629,552		2,982,998
Colombia		382,670		544,709
USA		166.228		169,088
Rest of the world		4,977,988		5,614,323
Total revenue		205.107.489		175,322,686

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
25

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

7. INFORMATION ON THE COMPONENTS OF THE CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME.

7.1. Cost of sales

	June 30, 2025			June 30, 2024
Inventory at the beginning of the fiscal year (1)		66.204.140			21,093,110
More: Purchases of the year		91.193.509			100,239,891
More: Addition from business combination		4,645,396			-
More: charges of the exercise
Staff		7,733,535			4,802,991
Depreciation of leased assets		2,583,962			797.112
Depreciation of property, plant and equipment		1,699,202			1,176,990
Infrastructure and maintenance		1,625,109			963.606
Environmental Impact Treatment		983,824			1,054,473
Fuels and energy		701,936			398,497
Logistics service		648,230			73,437
Supplies, materials and tests		416.606			430,623
Shared based incentives		321.182			638,715
Insurance		167,948			121,560
Freight and haulage		161,977			76.576
Contingencies		85.411			44.344
Vehicle expenses		72.370			34.352
Mobility and travel		74.073			75,991
Taxes and fees		61,918			60,894
Professional fees		75,971			41,731
Amortization of intangible assets		47.163			86,899
Office and operating expenses		30.604			78,797
Systems expenses		25.058			8.982
Loss due to obsolescence		1,099,133			231,656
Miscellaneous		27.046			129,747
Total manufacturing costs		18,642,258			11,327,973
Plus: Conversion difference by functional currency		14,489,255			41,398,107
Less: Inventory at year-end (1)		(67,949,990	)		(66.204.140	)
Cost of sales		127,224,568			107,854,941

(*) Net of agricultural products.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
26

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

7.2. Administration expenses

	June 30, 2025		June 30, 2024
Staff		9,542,653		5,553,711
Shared based incentives		671,442		823.259
Professional fees		4,789,234		3,058,765
Infrastructure and maintenance		492,832		256.173
Fuels and energy		101.060		34.177
Insurance		973.097		436.457
Vehicle expenses		177,080		77,188
Mobility and travel		300,791		349,585
Taxes and fees		1,353,150		721,473
Office and operating expenses		543.123		334,579
Supplies, materials and tests		132,370		53.428
Depreciation of property, plant and equipment		551,883		341,956
Amortization of intangible assets		85.145		131,947
Security costs		615.915		304,990
Systems Expenses		2,497,885		1,931,911
Depreciation of leased assets		456,891		231,786
Contingencies		136,630		27.909
Impairment of accounts receivable		-		20.829
Loss due to obsolescence		-		404
Promotion and advertising		628		1.354
Miscellaneous		55.171		4.316
Total		23,476,980		14,696,197

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
27

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

7.3. Marketing expenses

	June 30, 2025		June 30, 2024
Staff		12,734,400		7,538,131
Shared based incentives		865.404		743,757
Professional fees		951.553		395,318
Infrastructure and maintenance		190,669		253,407
Fuels and energy		6.934		6.220
Commissions and royalties		941.048		888.005
Insurance		864.177		179,889
Vehicle expenses		431.186		495,341
Mobility and travel		1,442,497		1,146,981
Taxes and fees		6,968,444		5,691,766
Office and operating expenses		92.120		91.134
Supplies, materials and tests		982.183		1,114,867
Depreciation of property, plant and equipment		945.116		618.163
Amortization of intangible assets		16.520		29.232
Systems Expenses		38,548		21.146
Depreciation of leased assets		1,282,767		401,982
Contingencies		105.178		169,990
Impairment of accounts receivable		6,354,993		264,474
Freight and haulage		4,130,803		3,207,659
Import and export expenses		826.307		275,969
Logistics service		331.103		744,780
Promotion and advertising		3,496,663		1,931,871
Loss due to obsolescence		-		2.616
Environmental Impact Treatment		66,519		-
Miscellaneous		158,790		172,382
Total		44,223,922		26,385,080

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
28

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

7.4. Research and development expenses

	June 30, 2025		June 30, 2024
Staff		1,299,599		621.251
Shared based incentives		36,596		20.130
Professional fees		38.838		99.181
Infrastructure and maintenance		83.371		81,969
Fuels and energy		5.946		5.484
Insurance		11.101		7.683
Vehicle expenses		3.953		14.739
Mobility and travel		35.317		28.367
Supplies, materials and tests		899,529		731.203
Depreciation of property, plant and equipment		60,632		49.123
Amortization of intangible assets		923,896		582,972
Systems Expenses		23.275		5.090
Depreciation of leased assets		57,293		-
Contingencies		12.903		9.557
Environmental Impact Treatment		6.376		4.592
Freight and haulage		2.161		4.688
Miscellaneous		2.065		2.680
Total		3,502,851		2,268,709

	June 30, 2025		June 30, 2024
Research and Development capitalized (Note 9.2)		1,757,375		870,439
Research and Development Expenses		3,502,851		2,268,709
Total		5,260,226		3,139,148

7.5. Other income and expenses, net

	June 30, 2025			June 30, 2024
Expense recovery		3.037			19.620
Others		(951.213	)		(182.165	)
		(948.176	)		(162.545	)

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
29

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

7.6. Financial results

	June 30, 2025			June 30, 2024
Other financial results
Exchange differences generated by assets		(15,752,271	)		(8,264,510	)
Exchange differences generated by liabilities		6,956,142			9,469,800
Interest generated by assets		11,634,677			4,552,432
Change in the fair value of financial assets or liabilities and other financial results		244,941			(2,741,802	)
		3,083,489			3,015,920
Financial costs
Interest generated by liabilities		(14,794,897	)		(11,856,507	)
Lease interest		(1,057,973	)		(663,188	)
Financial commissions		(2,314,841	)		(1,393,356	)
		(18,167,711	)		(13,913,051	)

8. EARNINGS PER SHARE

Basic earnings per share are calculated by dividing the profit or loss attributable to the Group's controlling companies by the weighted average number of ordinary shares outstanding during the year.

	June 30, 2025			June 30, 2024
Numerator
Earnings for the year (basic and diluted GPA)		(9,751,614	)		6,255,297
Denominator
Weighted average number of shares (basic and diluted EPS)		40,000,000			40,000,000
Basic and diluted result attributable to holders of common shares of the parent company		(243.79	)		156.38

As of June 30, 2025 and 2024, the Group has not issued any financial instruments or other contracts that grant their holder rights over the capital represented by the Group's common shares that could modify the current holdings, so the basic and diluted earnings per common share are the same.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
30

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

9. INFORMATION ON THE COMPONENTS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION

9.1. Property, plant and equipment

Class	Net book value as of 06/30/2024		Additions		Additions from businees combination		Transfers			Disposals			Depreciation for the year			Foreign currency conversion		Net book value as of 06/30/2025
Land		4,913,051		-		-		-			-			-			1,597,519		6,510,570
Buildings		26.115.156		-		-		397,282			-			(764.101	)		8,230,654		33,978,991
Facilities		1,697,787		-		7.426		263,580			-			(532,887	)		422,765		1,858,671
Machinery		6,511,835		387,232		36.190		164,784			(342,726	)		(988.294	)		2,311,849		8,080,870
Wheels		1,525,480		39.244		-		-			(7.699	)		(656,083	)		300.300		1,201,242
Furniture and supplies		419.242		37,907		1.065		-			-			(73.658	)		122.404		506,960
Computer equipment		452.127		50.421		-		-			-			(241,810	)		126.142		386,880
Works in progress (1)		9,401,350		4,042,136		-		(825,646	)		-			-			4,780,652		17,398,492
Total		51,036,028		4,556,940		44,681		-			(350.425	)		(3,256,833	)		17,892,285		69,922,676

1) Includes capitalized financial costs of $403,868 for the fiscal year ended June 30, 2025.

Class	Net book value as of 06/30/2023		Additions		Transfers			Disposals			Depreciation for the year			Foreign currency conversion		Net book value as of 06/30/2024
Land		1,351,192		-		255,719			-			-			3,306,140		4,913,051
Buildings		6,345,244		-		4,059,521			-			(460,532	)		16,170,923		26.115.156
Facilities		468,083		5.775		372,529			-			(406.066	)		1,257,466		1,697,787
Machinery		878.223		575,645		4,061,128			(70.655	)		(659.113	)		1,726,607		6,511,835
Wheels		397,200		536,428		-			(6.008	)		(456,834	)		1,054,694		1,525,480
Furniture and supplies		80.525		33.156		159,513			-			(45.952	)		192,000		419.242
Computer equipment		37,896		95.288		420,690			-			(157,735	)		55,988		452.127
Works in progress (1)		3,002,725		2,560,869		(6,671,236	)		-			-			10,508,992		9,401,350
Total		12,561,088		3,807,161		2,657,864			(76.663	)		(2,186,232	)		34,272,810		51,036,028

1) Includes capitalized financial costs of $106,290 for the fiscal year ended June 30, 2024.

The depreciation charge is included in Notes 7.1, 7.2, 7.3, and 7.4. The Group has no purchase commitments for property, plant, and equipment.

Revaluation of property, plant and equipment

The Group frequently updates its determination of the fair value of its land and buildings, taking into account the most recent independent valuations and market data. The most recent valuations were performed as of June 30, 2023. Management determined the value of property, plant, and equipment within a range of reasonable estimates of fair value.

Any fair value estimates arising for properties are included in Level 2 or 3 depending on the methodology used.

The carrying amounts that would have been recognized if Land and buildings had been recorded at cost are shown below.

Property class	June 30, 2025		June 30, 2024
Land and buildings		26,643,233		20.223.110

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
31

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

9.2. Intangible assets

Intangible assets as of June 30, 2025 and 2024 included:

Class	Net book value as of 06/30/2024		Additions		Addtion from Business combination		Transfers			Disposals			Amortization of the fiscal year			Foreign currency conversion		Net book value as of 06/30/2025
Crop nutrition
Microbiological products (R&D)		3,245,113		344.140		-		-			-			(519,639	)		957.312		4,026,926
Microbiological products (Records)		654,940												(143,484	)		188,423		699,879
Microbiological in progress (Records)		2,180,055		1,636,400										-			1,186,723		5,003,178
Microbiological in progress (R&D)		316,730		120,975		-		-			(92.382	)		-			89.266		434,589
Seeds and integrated products
HB4 Program		-		-		12,247,098		-			-			-			-		12,247,098
Other intangible assets
Software (1)		824.438		-		594,536		138,420			-			(409.601	)		265,558		1,413,351
Software in progress		304.175		165,971		296.107		(138.420	)		-			-			104.417		732,250
Total		7,525,451		2,267,486		13,137,741		-			(92.382	)		(1,072,724	)		2,791,699		24,557,271

Class	Net book value as of 06/30/2023		Additions		Transfers			Disposals			Amortization of the fiscal year			Foreign currency conversion		Net book value as of 06/30/2024
Crop nutrition
Microbiological products (R&D)		44.356		-		3,534,369			-			(477,093	)		143,481		3,245,113
Microbiological products (Records)		49,709				569,790						(105,879	)		141,320		654,940
Microbiological in progress (Records)		570,973		679,976		(569,790	)		(25.373	)					1,524,269		2,180,055
Microbiological in progress (R&D)		1,042,728		190,463		(3,534,369	)		(72,747	)		-			2,690,655		316,730
Other intangible assets
Software (1)		143.259		374,557		138,994			-			(248,078	)		415,706		824.438
Software in progress		26.296		157,423		(138,994	)		-			-			259,450		304.175
Total		1,877,321		1,402,419		-			(98.120	)		(831,050	)		5,174,881		7,525,451

1) Amortization of Microbiological Products and Software is included in Notes 7.1, 7.2, 7.3 and 7.4

There are no intangible assets whose use has been restricted or pledged as collateral. The Group has not committed to acquiring new intangible assets.

Estimates

There is significant inherent uncertainty in Management's estimate of the Group's ability to recover the carrying amounts of internally generated intangible assets in respect of the microbiological and HB4 product projects because they depend on the timing and amount of future cash flows generated by the projects, the Group's ability to raise sufficient funds to complete project development, the future outcome of the regulatory process, among other future events.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
32

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Management's estimates of the ability to demonstrate the recognition criteria for these assets and their subsequent recoverability represent the best estimate that can be made based on all available evidence, existing facts and circumstances, and using reasonable and acceptable assumptions in cash flow projections. Therefore, the consolidated financial statements do not include adjustments that would be necessary if the Group were unable to recover the carrying amount of the aforementioned assets by generating sufficient economic benefits in the future.

The Group must perform an annual impairment test on assets that are not amortized, either because they are no longer available for use or because they have indefinite useful lives, or on other non-financial assets when events or changes in circumstances indicate that their carrying amount may not be recoverable. The recoverable amount is determined based on value-in-use calculations. Using this method requires estimating future cash flows and determining a discount rate to calculate the present value of the cash flows.

HB4 CGU: This CGU is comprised of all revenue from ordinary activities through the sale of seeds, integrated product packs, and royalties and licenses collected from third parties. Projection period: 18 years.

Microbiological Products CGU: This CGU comprises all revenues obtained through the production and sale of products exclusively owned by the Group and third parties in both the domestic and international markets. Projection period: 8 years.

Management made these estimates based on its cash flow projections and third-party reports on the valuation of assets, intangible assets, and liabilities. The key assumptions used are as follows:

Key assumption	Management Approach
Discount rate	The discount rate used was 12.07% for microbiological products, and for HB4, a market-specific discount rate of 6.18% was also used.   The weighted average cost of capital (WACC) rate was estimated based on the market capital structure. The cost of debt was based on the CGU's borrowing cost.   The assigned value corresponds to external sources of information.
Estimated market share of joint ventures and other customers	Projected revenues from the CGU's products and services were estimated by Management based on market penetration information for comparable products and technologies and expectations of future economic and market conditions.   The assigned value corresponds to external sources of information.
Estimated product prices	The estimated prices in the revenue projections are based on current and projected market prices for the CGU's products and services.   The assigned value corresponds to external and internal sources of information based on historical prices.

Management believes that reasonable changes in any of these key assumptions will not cause the total carrying amount of the CGU to exceed its recoverable amount.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
33

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

9.3. Other financial assets

	June 30, 2025		June 30, 2024
Currents
U.S. Treasury Bills		-		1,815,235
Mutual funds		-		4,827,630
Other investments		1,086,109		724.091
		1,086,109		7,366,956

	June 30, 2025		June 30, 2024
Non-current
Shares of Bioceres Group PLC.		58		58
Other investments		70		172,911
		128		172,969

9.4. Inventories

	June 30, 2025			June 30, 2024
Resale products		38,190,468			36,902,454
Manufactured products		8,975,796			16,311,917
Goods in transit		4,786,185			4,429,098
Supplies		17,328,007			15,155,456
Seeds		1,760,445			-
Agricultural products		5,536,783			594.307
Provision for obsolescence		(2,592,471	)		(2,206,016	)
		73,985,213			71,187,216
Net agricultural products		67,949,990			66.204.140

The variation in the provision for obsolescence is indicated in Note 9.10.

The net inventory of agricultural products additionally does not include goods in transit related to them.

The Group has delivered merchandise on consignment to third parties for sale for $ 12,684,143 and $11,047,019, as of June 30, 2025 and June 30, 2024, respectively, which are displayed in the manufactured products and resale merchandise lines.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
34

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

9.5. Trade receivables

	June 30, 2025			June 30, 2024
Currents
Trade debtors		127,255,940			115,675,149
Provision for impairment of trade receivables		(14,266,443	)		(4,835,568	)
Provision for credit notes to be issued		(854.351	)		(2,645,571	)
Deferred checks		5,519,114			5.122.209
Taxes		8,222,893			2,315,642
Advances to suppliers		1,763,086			4,588,887
Prepaid expenses and other receivables		2,268,638			2,104,387
Miscellaneous		116,939			4.658
		130.025.816			122,329,793

	June 30, 2025			June 30, 2024
Non-current
Trade debtors		2,549,217			-
Provision for impairment of trade receivables		(331,000	)		-
Taxes		692.134			684,737
Export refunds		1,445,725			1,330,275
		4,356,076			2.015.012

The book value approximates fair value given its short-term nature.

Antiquity :	June 30, 2025		June 30, 2024
No deadline		8,815,135		5,465,115
To overcome		87,265,854		73,728,411
Overdue up to three months		22,798,116		37,145,281
Expired between three and six months		4,036,317		2,801,080
Overdue more than six months		11,466,470		5,204,918
		134,381,892		124,344,805

By currency:	June 30, 2025		June 30, 2024
In Argentine pesos		10,348,092		14,673,343
In US dollars		105,256,913		98.544.069
In euros		-		455,953
In Reales		8,797,045		9,761,749
In other currencies		9,979,842		909.691
		134,381,892		124,344,805

The changes in the allowance for uncollectible sales receivables are detailed in Note 9.10.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
35

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

9.6. Cash and cash equivalents

	June 30, 2025		June 30, 2024
Cash at banks and on hand		9,101,732		11,750,946
Mutual funds		14,796,489		17,754,952
		23,898,221		29,505,898

By currency:	June 30, 2025		June 30, 2024
In Argentine pesos		15,299,974		18,817,326
In US dollars		4,194,680		9,131,273
In euros		-		20,758
In Reales		2,016,073		1,001,139
In other currencies		2,387,494		535.402
		23,898,221		29,505,898

9.7. Borrowings

	June 30, 2025		June 30, 2024
Currents
Borrowings		104,685,929		75,960,707
Corporate bonds		30,330,964		38,273,709
		135,016,893		114,234,416
Non-current
Borrowings		11,100,342		10,194,028
Corporate bonds		31,124,806		22,827,895
		42,225,148		33,021,923

By rate:	June 30, 2025		June 30, 2024
At a fixed rate		154.257.041		23,620,223
At variable rate		22,985,000		123,636,116
		177.242.041		147,256,339

By currency:	June 30, 2025		June 30, 2024
In Argentine pesos		2,399,982		12,393,669
In US dollars		152.210.749		123,648,599
In Reales		22,631,310		11,214,071
		177.242.041		147,256,339

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
36

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The carrying amount of certain Borrowings as of June 30, 2025 , is measured at amortized cost and differs from their fair value. The following fair values are measured on a discounted cash flow basis (Level 3) due to the use of unobservable inputs, including credit risk .

	June 30, 2025				June 30, 2024
	Amortized cost		Fair value		Amortized cost		Fair value
Currents
Borrowings		104,685,929		93,916,285		75,960,707		72,233,134
Corporate bonds		30,330,964		27,047,052		38,273,709		37,779,343
		135,016,893		120,963,337		114,234,416		110.012.477
Non-current
Borrowings		11,100,342		7,811,776		10,194,028		8,207,126
Corporate bonds		31,124,806		22,488,420		22,827,895		21,711,403
		42,225,148		30,300,196		33,021,923		29,918,529

On August 1, 2024, the Company entered into, jointly with Pro Farm Technologies Oy (related company), a USD 20 million financing agreement with Cooperatieve Rabobank UA (“ Rabobank ”), whose main characteristics are the following:

- Tranche I: Up to US$3,000,000 for Pro Farm Technologies Oy for general corporate purposes, with an interest rate of Term SOFR + 6.15% per annum with a semi-annual coupon.

- Section II: Up to US$17,000,000 for Rizobacter Argentina SA as an export pre-financing credit line, with an interest rate of Term SOFR + 5.15% per year, with a semi-annual coupon.

The principal is repaid in 7 semi-annual installments between June 15, 2026, and June 15, 2029.

Covenants :

- Net financial debt/EBITDA ratio ≤ 3.50:1.00 (2024-2025), ≤ 3.00:1.00 (2026-2027), ≤ 2.75:1.00 (2028).

- Interest coverage ≥ 2.50:1.00.

- Solvency ≥ 0.25:1.00.

- Current ratio ≥ 1.10:1.00.

- Specific restrictions on the granting of Borrowings to related companies according to their type:

Financial Borrowings: The amount may not exceed USD 70 million.

Commercial Borrowings: The amount may not be less than USD 30 million.

Borrowings with Bioceres Crop Solutions: The amount may not exceed USD 20 million.

During the current period, we experienced a temporary setback due to challenges in the Argentine market, primarily the deterioration of the agricultural economy driven by falling commodity prices and weak yield forecasts. These external pressures significantly affected the income per hectare of Argentine producers, leading to a reduction in investment in key inputs such as fertilizers and crop protection products.

This decline in demand, combined with a well-supplied agricultural input market resulting from aggressive purchasing in previous years, has led to increased price pressure and lower adoption of high-value technologies like ours. However, we are encouraged by having maintained our market share in key product families, despite the overall market contraction.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
37

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

As a result of these temporary conditions, our performance indicators were impacted, causing us to exceed the Net Financial Leverage to EBITDA and Current Ratio thresholds established in the agreement. However, on September 5, 2025, we entered into a waiver agreement and addendum to the indenture whereby Rabobank agrees to waive non-compliance with these ratios for the year ended June 30, 2025. However, since the waiver extends after the closing date of these financial statements, we cannot demonstrate, as of June 30, 2025, an unconditional right to defer the settlement of the liability by at least twelve months, and we have reclassified the loan as a current liability.

The addendum, in addition to the waiver , includes as its most important financial aspects (i) new progressive limits for the Net Financial Debt to EBITDA ratio, starting at 6.00x as of September 30, 2025 and gradually reducing to 2.75x as of September 30, 2027; ( ii ) sets a maximum limit on gross financial debt, which varies between USD 105 million and USD 130 million quarterly; ( iii ) the impediment to being able to grant new intercompany Borrowings that exceed the amounts in force at the time of signing the agreement, unless funds are provided from the parent company; and, ( iv ) for the fiscal years ending in June 2026 and 2027, only capital investments for maintenance may be made.

Public Bonds

On November 25, 2024, the Company publicly placed Series X, Class A and B of Public Bonds for a total nominal value of US$ 25,926,536, as detailed below:

Serie A

Issue amount: US$ 2,396,825

Applicable rate: 7% nominal annual

Expiration Date: November 28, 2026

Series B

Issue amount: US$ 23,529,711

Applicable rate: 8% nominal annual

Expiration Date: November 28, 2027

On September 9, 2024, the Company made the final payment of interest and principal amortization services on the Series VI Class B Public Bonds for the amounts of US$46,351 and US$3,428,224, respectively.

On December 30, 2024, the Company made the payment of the last installment of interest and principal amortization services of the Series VII Class B Public Bonds for the amounts of US$74,296 and US$20,000,000, respectively.

On February 10, 2025, the Company made the last payment of interest and principal amortization services on Public Bonds Series VIII Class A for the sum of US$45,984 and US$12,296,029, respectively.

9.8. Leases

Right-of-use assets were initially valued at the amount of the lease liability plus initial direct costs incurred, adjusted for advance payments. Right-of-use assets were measured at cost less accumulated amortization and accumulated impairment .

The lease liability was initially measured at the present value of the lease payments due over the lease term, discounted at the rate implicit in the lease if readily determinable. If such a rate cannot be readily determined, the Group will use its incremental interest rate.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
38

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Information on right-of-use assets and liabilities related to leased assets is presented below:

Right-of-use assets as of June 30, 2025

	Residual value at the beginning of the fiscal year		Additions		Disposals		Conversion result		Depreciation for the year			Total
Estate		9,113,753		3,915,791		11.262		3,196,047		(3,617,238	)		12,619,615
Computer equipment		261,876		223.025		-		79,683		(257.214	)		307,370
Machinery		25.166		-		-		3.661		(28.827	)		-
Wheels		600,092		28,950		-		259.239		(477,634	)		410,647
Residual value at the end of the financial year		10,000,887		4,167,766		11.262		3,538,630		(4,380,913	)		13,337,632

Right-of-use assets as of June 30, 2024

	Residual value at the beginning of the fiscal year		Additions		Disposals			Conversion result			Depreciation for the year			Total
Estate		3,127,040		664,615		(336,482	)		6,646,570			(987,990	)		9,113,753
Computer equipment		49.891		247,540		-			139,858			(175.413	)		261,876
Machinery		28.353		-		-			47,817			(51.004	)		25.166
Wheels		-		983.224		-			(166,659	)		(216,473	)		600,092
Residual value at the end of the financial year		3,205,284		1,895,379		(336,482	)		6,667,586			(1,430,880	)		10,000,887

Lease liabilities
	June 30, 2025			June 30, 2024
Balance at the beginning of the fiscal year		9,815,841			3,080,019
Additions		4,167,766			1,895,379
Interest charge/exchange rate difference		1.105.011			693,796
Conversion result		3,797,780			6,553,079
Payments made during the fiscal year		(5,722,346	)		(2,406,432	)
		13,164,052			9,815,841

Lease liabilities	June 30, 2025		June 30, 2024
Non-current		10,078,231		7,236,137
Current		3,085,821		2,579,704
Totals		13,164,052		9,815,841

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
39

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

9.9. Provisions

	June 30, 2025		June 30, 2024
Provisions for contingencies		1,094,465		819.008
		1,094,465		819.008

The Group has recorded a provision for administrative, judicial, and extrajudicial proceedings that may arise from the ordinary course of business. To this end, it has applied prudent criteria from the perspective of its professional advisors, based on management's assessment of the best estimate of the amount of potential claims. These potential claims are unlikely to have a material impact on the Group's results of operations, cash flow, or financial position.

Management believes there is insufficient objective evidence to determine the period of the potential cash outflow due to a lack of experience in similar cases. However, the provision was classified as a current or non-current liability, applying the best prudential criteria based on management's estimates.

No refunds related to provisions are expected.

The change in the provision is indicated in Note 9.10.

In assessing the need for provisions and disclosures in the consolidated financial statements, Management has considered the following factors: (i) the nature of the claim and the potential level of damages in the jurisdiction in which it is brought; ( ii ) the progress of the potential case; ( iii ) the opinions or views of tax and legal advisors; ( iv ) experience in similar cases; and (v) any decisions taken by Group Management on how the potential claim will be responded to.

9.10.  Changes in provisions and forecasts

Departure	June 30, 2024		Additions		Additions from business combination		Uses and reversals			Conversion difference		June 30, 2025
DEDUCTED FROM ASSETS
Provision for impairment of trade receivables		4,835,568		6,354,993		1,272,522		-			2,134,360		14,597,443
Provision for obsolescence		2,206,016		1,099,133		-		(1,390,222	)		677,544		2,592,471
Provision of credit notes to be issued		2,645,571		839,866		-		(2,717,841	)		86.755		854.351
Total deducted from assets		9,687,155		8,293,992		1,272,522		(4,108,063	)		2,898,659		18,044,265
INCLUDED IN LIABILITIES
Provisions for contingencies		819.008		340.122		264		(371,906	)		306,977		1,094,465
Total included in liabilities		819.008		340.122		264		(371,906	)		306,977		1,094,465
Total		10,506,163		8,634,114		1,272,786		(4,479,969	)		3,205,636		19,138,730

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
40

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Departure	June 30, 2023		Additions		Uses and reversals			Conversion difference		June 30, 2024
DEDUCTED FROM ASSETS
Provision for impairment of trade receivables		1,558,940		285.303		(724.224	)		3,715,549		4,835,568
Provision for obsolescence		495,469		234,676		(23.568	)		1,499,439		2,206,016
Provision of credit notes to be issued		947,516		1,097,584		(1,919,594	)		2,520,065		2,645,571
Total deducted from assets		3,001,925		1,617,563		(2,667,386	)		7,735,053		9,687,155
INCLUDED IN LIABILITIES
Provisions for contingencies		127,652		251,800		-			439,556		819.008
Total included in liabilities		127,652		251,800		-			439,556		819.008
Total		3,129,577		1,869,363		(2,667,386	)		8,174,609		10,506,163

9.11.  Trade payables and other payables

	June 30, 2025		June 30, 2024
Trade creditors		57,817,244		43,631,779
Taxes		3,926,973		3,764,378
Miscellaneous		122.198		136,893
		61,866,415		47,533,050

Trade payables and other payables include debts owed to grain producers. They represent payment obligations arising from purchase contracts and grant the producer the right to fix the price at any time between the delivery date and a future date. Amounts owed that have not been fixed at the closing date are measured at fair value, while those fixed by the producer are measured at amortized cost.

The fair value of trade payables and other payables approximates their carrying amount, as the impact of applying the discount is not significant.

By currency:	June 30, 2025		June 30, 2024
In Argentine pesos		9,603,177		9,170,600
In US dollars		35,964,445		33,983,691
In euros		7,073,759		18.821
In Reales		9,203,647		3,907,843
In other currencies		21.387		452.095
		61,866,415		47,533,050

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
41

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

9.12.  Employee benefits and social security

	June 30, 2025		June 30, 2024
Employee benefits and social security to be paid		3,460,153		2,590,151
Provisions for vacations and bonuses payable		1,756,924		971.133
		5,217,077		3,561,284

By currency:	June 30, 2025		June 30, 2024
In Argentine pesos		4,155,688		2,682,736
In US dollars		40.105		41,597
In euros		40,747		20.193
In Reales		828,672		762,579
In other currencies		151,865		54.179
		5,217,077		3,561,284

10. INCOME TAXES

The income tax charge for the year ended June 30, 2025, and for the year ended June 30, 2024, is composed as follows:

	June 30, 2025			June 30, 2024
Current income tax		(3,034,528	)		(6,227,183	)
Deferred income tax		4,695,912			2,442,457
Total		1,661,384			(3,784,726	)

The income tax charge for the year differs from the result arising from applying the income tax rate to the result before tax, as a result of the following:

	June 30, 2025			June 30, 2024
Earnings before taxes		(11,412,964	)		10,039,509
Income tax at the tax rate		2,867,525			(3,853,535	)
Share of profit or loss of joint ventures and associates		(749,478	)		(793,724	)
Other non-deductible expenses and exchange differences		318,932			(1,085,423	)
Tax inflation adjustment		3,237,520			4,816,298
Difference in tax provision prior year		1,459,075			-
Conversion difference		(5,472,190	)		(2,868,342	)
Income Tax Charge		1,661,384			(3,784,726	)

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
42

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The changes in the net deferred tax asset as of June 30, 2025 and 2024 are detailed below:

	June 30, 2025			June 30, 2024
At the beginning of the exercise		(17,003,230	)		(4,387,029	)
Deferred tax credit for the fiscal year at the current tax rate		4,695,912			2,442,457
Additions by combination-Acquisition B.Semillas SA		(971,686	)		-
Conversion difference		(4,456,447	)		(15,058,658	)
At the end of the fiscal year		(17,735,451	)		(17,003,230	)

The changes in deferred tax assets and liabilities as of June 30, 2025 and 2024 are detailed below:

Deferred tax assets	At the beginning of the exercise		Additions from business combination		Deferred tax credit (charge)			Conversion		At the end of the fiscal year
Trade receivables		398.208		413,897		684,743			128,496		1,625,344
Other receivables and liabilities		674,875		120.238		(317,633	)		212.607		690,087
Sale and replacement		23,350		-		17,881			10.356		51,587
Allowances		370,686		-		(55.969	)		111,818		426,535
Royalties		-		872,993		-			-		872,993
Tax loss carrying foward		2,398,846		-		2,098,393			1,328,658		5,825,897
Total Deferred Tax Credit		3,865,965		1,407,128		2,427,415			1,791,935		9,492,443

Deferred tax liabilities	At the beginning of the exercise			Additions from business combination			Deferred tax credit (charge)			Conversion			At the end of the fiscal year
Intangible Assets		(2,325,115	)		-			(520,935	)		(846,887	)		(3,692,937	)
Property, plant and equipment		(11,373,311	)		(788,611	)		(955,477	)		(3,596,945	)		(16,714,344	)
Inventories		(6,437,691	)		(821,868	)		3,201,693			(1,699,176	)		(5,757,042	)
Biological assets		-			(768,364	)		-			-			(768,364	)
Leases		(67.916	)		-			17,620			(28.302	)		(78,598	)
Tax inflation adjustment		(147.257	)		29			68.186			48.019			(31.023	)
Valuation of bonds and mutual funds		(422,841	)		-			411,734			(22.557	)		(33.664	)
Others		(95.064	)		-			45,676			(102.534	)		(151,922	)
Total Deferred Tax Liabilities		(20,869,195	)		(2,378,814	)		2,268,497			(6,248,382	)		(27,227,894	)

	At the beginning of the exercise		Deferred tax credit (charge)			Conversion		At the end of the fiscal year
Trade receivables		90,990		173.008			134.210		398.208
Other receivables and liabilities		323,518		(479,220	)		830,577		674,875
Sale and replacement		3.097		11.861			8.392		23,350
Provision for bonus		115.512		(363,861	)		248,349		-
Allowances		94,781		112,629			163,276		370,686
Tax loss carrying foward		619.073		1,455,028			324,745		2,398,846
Total Deferred Tax Credit		1,246,971		909.445			1,709,549		3,865,965

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
43

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

	At the beginning of the exercise			Deferred tax credit (charge)			Conversion			At the end of the fiscal year
Intangible Assets		(594,465	)		(102.604	)		(1,628,046	)		(2,325,115	)
Property, plant and equipment		(2,930,677	)		46,929			(8,489,563	)		(11,373,311	)
Inventories		(1,374,534	)		775.254			(5,838,411	)		(6,437,691	)
Leases		(30,892	)		(85.219	)		48.195			(67.916	)
Tax inflation adjustment		(145,934	)		107,871			(109.194	)		(147.257	)
Valuation of bonds and mutual funds		(552,632	)		851,234			(721,443	)		(422,841	)
Others		(4.866	)		(60.453	)		(29.745	)		(95.064	)
Total Deferred Tax Liabilities		(5,634,000	)		1,533,012			(16,768,207	)		(20,869,195	)

The income tax charge is charged directly to income. The amount and maturity of the tax losses as of June 30, 2025, are shown below:

Fiscal year	Breakdown		Tax loss		Tax Jurisdiction
2023		2,176,812		740.116	Brazil
2024		6,641,641		2,258,158	Brazil
2024		1,059,224		264,806	France
2025		7,537,697		2,562,817	Brazil
Total		17,415,374		5,825,897

The amount of tax losses for the fiscal year ending June 30, 2025, is an estimate of the amount that will be reported on the tax return.

Estimates

There is a material uncertainty inherent in Management's estimate of whether the Group will be able to utilize the deferred tax assets (both unused tax carryforwards and deductible temporary differences) and the minimum presumed income tax credit, since their future utilization depends on the Group entities generating sufficient future taxable profits during the periods in which such temporary differences are deductible or in which unused tax carryforwards can be applied.

Based on projections of future taxable income for the periods in which the deferred tax asset can be deducted, Group Management estimates that, with the exception of the unrecognized portion of the deferred tax asset, it is probable that the Group entities will be able to utilize such deferred tax assets, which depends, among other factors, on the success of current agricultural biotechnology projects, the future market price of raw materials, and the market share of the Group entities.

Management's estimates of the demonstrability of the recognition criteria for these deferred tax assets and their subsequent recoverability represent the best estimate that can be made, based on all available evidence, existing facts and circumstances, and the use of reasonably substantiated assumptions regarding projections of future taxable income. Therefore, the consolidated financial statements do not include adjustments that could result if the Group's entities were unable to recover the deferred tax asset by generating sufficient taxable income in the future.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
44

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

11. INFORMATION ON THE COMPONENTS OF THE HERITAGE

Issued capital

As of June 30, 2025, we had 40,000,000 shares of common stock authorized with a par value of $1 per share.

Holders of common shares are entitled to five votes for each common share.

12. JOINT VENTURES AND ASSOCIATES

	June 30, 2025		June 30, 2024
Synertech Industries SA		20,503,414		15,908,502
Bioceres Crops SA		2,343,977		316.282
Alfalfa Technologies SRL		43,822		-
Natal Agro SRL		688,074		-
		23,579,287		16,224,784

In June 2025, through the acquisition of Bioceres Semillas SAU, the Group acquired 20% of the share capital in Natal Agro SRL, an Argentine company dedicated to the cultivation and development of corn varieties, and 49% of the share capital of Alfalfa Technologies SRL, an Argentine company dedicated to research and experimental development in the field.

Changes in investments in joint ventures and affiliates:

	June 30, 2025			June 30, 2024
At the beginning of the exercise		16,224,784			3,619,793
Business combination		731,896			-
Irrevocable Contributions		3,008,777			552,863
Share based incentives		591,786			1,476,602
Conversion difference		5,163,411			12,843,308
Share of profit or loss		(2,141,367	)		(2,267,782	)
At the end of the fiscal year		23,579,287			16,224,784

Share profits or losses of joint ventures and affiliates:

	June 30, 2025			June 30, 2024
Synertech Industries SA		(443,797	)		607,529
Bioceres Crops SA		(1,697,570	)		(2,875,311	)
		(2,141,367	)		(2,267,782	)

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
45

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The following is a summary of the financial information of the joint ventures prepared in accordance with IFRS standards:

	Bioceres Crops SA
Summary statement of financial position	June 30, 2025		June 30, 2024
Current assets
Cash and cash equivalents		168		23
Other current assets		1,189,628		677,621
Total current assets		1,189,796		677,644
Non-current assets
Property, Plant and equipment		20,946		18.028
Intangible Assets		799.198		617,325
Other non-current assets		1,183,295		546,569
Total non-current assets		2,003,439		1,181,922
Current liabilities
Financial liabilities		437.231		362,431
Other current liabilities		862.617		699.001
Total current liabilities		1,299,848		1,061,432
Non-current liabilities
Financial liabilities		60		60
Other non-current liabilities		214.143		165,507
Total non-current liabilities		214.203		165,567
Net assets		1,679,184		632,567

	Bioceres Crops SA
Summary statement of comprehensive income	June 30, 2025			June 30, 2024
Revenue		654,729			682.680
Financial income		604.443			1,573,122
Financial expenses		(350.353	)		(324.191	)
Depreciation and amortization		(65.666	)		(49.114	)
Loss of the year		(3,395,141	)		(5,750,622	)

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
46

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

	Synertech
Summary statement of financial position	June 30, 2025		June 30, 2024
Current assets
Cash and cash equivalents		1,616,730		2.810
Other current assets		9,635,876		51,100,966
Total current assets		11,252,606		51,103,776
Non-current assets
Property, Plant and equipment		12,084,156		10,193,406
Other non-current assets		52,380,698		-
Total non-current assets		64,464,854		10,193,406
Current liabilities
Financial liabilities		26,324,062		17,313,417
Other current liabilities		6,738,329		7,974,886
Total current liabilities		33,062,391		25,288,303
Non-current liabilities
Financial liabilities		-		-
Other non-current liabilities		1,496,205		3,138,500
Total non-current liabilities		1,496,205		3,138,500
Net assets		41,158,864		32,870,379

	Synertech
Summary statement of comprehensive income	June 30, 2025			June 30, 2024
Revenue		25,684,066			33,831,375
Financial income		1,930,081			1,487,413
Financial expenses		(8,679,917	)		(4,075,681	)
Depreciation and amortization		1,531,982			907,734
Loss of the year		(1,991,688	)		871,933
Other comprehensive income		10,280,172			24,594,689
Total comprehensive income		8,288,484			25,466,622

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
47

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

	Natal Agro SRL
Summary statement of financial position	June 30, 2025
Current assets
Cash and cash equivalents		41.139
Other current assets		9,914,713
Total current assets		9,955,852
Non-current assets
Property, Plant and equipment		121.811
Other non-current assets		93,632
Total non-current assets		215,443
Current liabilities
Financial liabilities		4,757,805
Other current liabilities		3,872,449
Total current liabilities		8,630,254
Non-current liabilities
Other non-current liabilities		729.121
Total non-current liabilities		729.121
Net assets		811,920

	Natal Agro SRL
Summary statement of comprehensive income	June 30, 2025
Revenue		6,642,787
Financial income		24.429
Financial expenses		(2,011,748	)
Depreciation and amortization		(122,719	)
Loss of the year		1,126,424

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
48

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

13. BALANCES AND TRANSACTIONS OF SHAREHOLDERS AND OTHER RELATED PARTIES

For the purposes of these financial statements, related parties are considered to be those natural or legal persons that have a relationship (in the terms of IAS 24) with the company Rizobacter Argentina SA.

Societies	Trade receivables		Other current receivables		Non-current Trade receivables		Other non-current receivables		Trade payables and other current payables		Employee benefits and social security		Trade payables and other non-current payables		Non-current Borrowings
Associates and joint ventures
Synertech Industries SA		5.017		-		-		-		625.093		-		52,457,530		-
Bioceres Crops SA		11		127,684		-		-		1,086,282		-		-		-
Other related parties
Espartina SA		-		-		-		-		-		-		-		-
Bioceres S.A.		-		-		-		-		252.747		-		-		-
Bioceres LLC		-		-		-		-		75.336		-		-		161.725
Bioceres Crop Solutions Corp		-		3.370.108		-		25.763.377		340.354		-		-		12.884.414
BCS Holding Inc		-		1.228.761		466.178		9.709.011		92.992		-		-		-
RASA Holding LLC		-		-		-		21,279,858		-		-		-		-
Bioceres Crops of Brazil		-		-		-		6,474,870		84,632		-		-		-
Pro Farm Group Inc.		16,884		-		-		4,554,021		738,917		-		2,523,066		-
Pro Farm Technologies Com. Agricultural Inputs of Brazil Ltda.		-		-		-		115.541		-		-		-		274.994
Pro Farm Technologies OY		-		-		-		-		38.085		-		-		-
Pro Farm OU		176.433		-		-		-		1,191,114		-		-		221,877
RIFarm Mexico		166,389		-		-		788,485		-		-		-		-
Agrochemical Supplies SA		-		-		15,160,066		3,316,875		-		-		-		-
Natal Agro SRL		-		-		116,219		3,432,550		-		-		-		-
Trigall Genetics		-		-		491,617		-		3,637,472		-		-		-
Management staff and others		-		-		-		-		341,437		65.006		-		-
Shareholders		147		-		-		-		2.112		-		30		-
Agrality S.A.		-		-		56.919		-		-		-		-		-
Agrality Seeds		-		-		-		270,943		-		-		-		-
Rosario Agrobiotechnology Institute SA		-		-		204,674		-		89,518		-		-		-
Metabolic Engineering Inc.		-		-		7.103		-		216		-		-		-
Heritas S.A.		-		-		30.922		-		-		-		-		-
Alfalfa Technologies S.R.L.		-		-		-		330,883		-		-		-		-
Other related parties		-		-		3,239,005		-		-		-		-		-
TOTAL		364,881		4,726,553		19,772,703		76,036,414		8,596,307		65.006		54,980,626		13,543,010

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
49

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Societies	Trade receivables		Other current receivables		Trade payables and other payables		Employee benefits and social security		Current Borrowings		Trade payables and other non-current payables		Non-current Borrowings
Associates and joint ventures
Synertech Industries SA		-		-		36,742,544		-		-		-		-
Bioceres Crops SA		11		127,684		362,710		-		-		-		-
Other related parties
Bioceres SA		-		-		451.622		-		-		-		-
Bioceres LLC		-		-		-		-		1.069.104		-		-
Bioceres Crop Solutions Corp		-		26.124.275		1.104.254		-		10.648.593		-		3.103.855
BCS Holding Inc		-		7.546.395		-		-		-		-		-
RASA Holding LLC		-		12.693.593		-		-		-		-		-
Bioceres Semillas SA		-		23,171,930		1,210,375		-		1,383,651		-		-
Bioceres Crops of Brazil		3,154,658		-		-		-		-		-		-
Pro Farm Group Inc.		752		429.176		313.019		-		-		-		-
Pro Farm International OY		-		-		11.837		-		-		-		-
Pro Farm OU		-		11.424		1,837,060		-		-		-		-
Glinatur SA		40,538		-		-		-		4,560,621		-		-
Agrochemical Supplies SA		7,064,783		1,198,088		-		-		-		-		-
Natal Agro SRL		-		896,700		-		-		-		-		-
Trigall Genetics		712.140		-		510.144		-		-		-		-
Management staff and others		-		-		32,480		135.178		-		-		-
Shareholders		-		-		2.116		-		-		30		-
Agrality SA		110,050		-		-		-		-		-		-
Agrality Seeds		-		188,882		-		-		-		-		-
Rosario Agrobiotechnology Institute SA		13.112		-		54,513		-		-		-		-
Metabolic Engineering Inc.		5.389		-		2.781		-		-		-		-
Valorasoy SA		-		322,940		-		-		-		-		-
TOTAL		11,101,433		72,711,087		42,635,455		135.178		17,661,969		30		3,103,855

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
50

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Balances with related parties by currency

Trade receivables and other receivables	June 30, 2025		June 30, 2024
In Argentine pesos		134,798		127,690
In US dollars		94.175.342		80,530,172
In reales		6,590,411		3,154,658
Total		100.900.551		83.812.520

Trade payables and other payables	June 30, 2025		June 30, 2024
In Argentine pesos		382.245		849.085
In US dollars		63,194,688		41,786,400
Total		63,576,933		42,635,485

Employee benefits and social security	June 30, 2025		June 30, 2024
In Argentine pesos		65.006		135.178
Total		65.006		135.178

Borrowings	June 30, 2025		June 30, 2024
In US dollars		13,268,016		20,765,824
In reales		274,994		-
Total		13,543,010		20,765,824

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
51

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

During the financial year ended June 30, 2025 and 2024, the transactions between the Group and related parties were as follows:

COMPANIES / OPERATIONS	Sales of goods and services		Purchases of goods and services		Remunerations		Borrowings granted			Interest on Borrowings granted		Loan collection		Borrowings taken out		Interest on Borrowings taken out		Payment of Borrowings taken		Professional fees		Expense recovery		Provision of services		Irrevocable Contributions
ASSOCIATES AND JOINT VENTURES
Bioceres Crops. S.A.		-		-		-		3.008.777			-		-		-		-		-		-		382.028		-		3.008.777
Synertech Industrias S.A.		4.106.508		19.092.776		-		-			-		-		-		-		-		-		603.793		289.559		-
OTHER RELATED PARTIES
Bioceres Crop Solutions Corp		-		-		-		24.054			1,377,153		47,596		244.788		355.936		746.279		-		-		-		-
BCS Holding Inc.		-		-		-		898			358.109		-		-		-		-		-		-		-		-
RASA Holding Inc.		-		-		-		3,158,021			834,244		97.450		-		-		-		-		-		-		-
Bioceres Semillas SA		340,739		36.922		-		19,039,685			7,353,299		169.601		-		55.112		-		-		213,874		-		-
Agrochemical Supplies SA		-		-		-		1,486,526			69,670		-		-		-		-		-		114,790		-		-
Bioceres Crops of Brazil		184,533		-		-		-			219		-		32.693		-		-		-		-		-		-
Pro Farm Group Inc.		-		-		-		28.898			29.719		-		-		-		-		-		-		-		-
Pro Farm OR		-		1,336,271		-		-			-		-		-		96,584		-		-		-		-		-
Pro Farm Technologies Com. Agricultural Inputs of Brazil Ltda.		-		-		-		-			-		-		187,671		22,167		-		-		-		-		-
Glinatur SA		-		-		-		-			-		-		5,274,376		20.395		-		-		-		-		-
Natal Agro SRL		92.817		-		-		1,610,614			123.475		-		-		-		-		-		-		-		-
Bioceres S.A.		-		86.225		-		(172.451	)		-		-		-		-		-		88.468		18.027		-		-
Bioceres LLC.		-		-		-		-			-		-		-		138,812		-		-		-		-		-
Metabolic Engineering Inc.		-		51,097		-		-			-		-		-		-		-		-		-		-		-
Agrallity SA		43.912		-		-		-			-		-		-		-		-		-		-		63.083		-
Rosario Agrobiotechnology Institute SA		-		4.987		-		-			-		-		-		-		-		-		-		129.619		-
Valorasoy SA		-		-		-		90,783			18.861		361,667		-		-		-		-		-		-		-
Management staff and others		377,492		-		1,099,341		-			-		-		-		-		-		-		-		-		-
Other related companies		1,359,896		1,145,591		-		-			-		-		-		-		-		-		-		-		-

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
52

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

COMPANIES / OPERATIONS	Sales of goods and services		Purchases of goods and services		Remunerations		Royalties		Borrowings granted		Interest on Borrowings granted		Loan collection		Borrowings taken out		Interest on Borrowings taken out		Payment of Borrowings taken		Research agreement		Professional fees		Expense recovery		Provision of services		Irrevocable Contributions
ASSOCIATES AND JOINT AGREEMENTS
Bioceres Crops. S.A.		-		-		-		-		-		-		-		-		-		-		-		-		307.450		-		552.863
Synertech Industrias S.A.		13.968.979		17.489.987		-		-		-		-		-		-		-		-		-		-		516.346		258.753		-
OTHER RELATED PARTIES
Bioceres Crop Solutions Corp		-		-		-		-		200.431		595.318		637.920		2.210.925		326.579		1.341.259		-		-		-		-		-
BCS Holding Inc.		-		-		-		-		37.211		173.166		-		-		-		-		-		-		-		-		-
RASA Holding Inc.		-		-		-		-		2,315,251		314,429		-		-		-		-		-		-		-		-		-
Bioceres Semillas SA		1,499,386		51,346		-		291,628		9,772,688		269,505		-		540,000		33.155		-		-		12.006		302.019		-		-
Agrochemical Supplies SA		2,471,378		-		-		-		721,774		34,710		660,571		-		-		-		-		-		-		46,935		-
Bioceres Crops of Brazil		985,895		-		-		-		1,391,409		-		-		-		-		-		-		-		-		-		-
Pro Farm Technologies Com. Agricultural Inputs of Brazil Ltda.		359,424		-		-		-		365,406		-		-		-		7.963		-		-		-		-		-		-
Glinatur SA		-		20,847		-		-		-		-		-		-		149,655		113.455		-		-		-		-		-
Natal Agro SRL		-		-		-		-		894.733		491		-		-		-		-		-		-		-		-		-
Bioceres S.A.		-		-		-		-		-		-		-		-		-		-		-		18.017		-		-		-
Bioceres LLC.		-		-		-		-		-		-		-		-		15.295		-		-		-		-		-		-
Metabolic Engineering Inc.		-		2.945		-		-		-		-		-		-		-		-		-		-		-		-		-
Agrallity SA		570.545		3.062		-		-		-		-		-		-		-		-		3.508		-		-		32.014		-
Rosario Agrobiotechnology Institute SA		1.424		-		-		-		-		-		-		-		-		-		25.834		-		-		-		-
Valorasoy SA		-		-		-		-		247,761		-		-		-		-		-		-		-		-		-		-
Management staff and others		565.237		-		671,543		-		-		-		-		-		-		-		-		-		-		-		-
Other related companies		5,466,156		999,728		-		-		-		-		-		-		-		-		-		-		-		-		-

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
53

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

14. CASH FLOW INFORMATION

The following are significant non-monetary transactions related to investing and financing activities:

	June 30, 2025		June 30, 2024
Investment activities
Capitalization of interest on building in progress		403,868		106.290
Reclassification of investment properties to property, plant and equipment		-		2,657,864
		403,868		2,764,154

15. FINANCIAL INSTRUMENTS – RISK MANAGEMENT

The Group is exposed to various financial risks arising from its activities and the use of financial instruments. This Note provides information about the Group's exposure to certain risks, as well as the objectives, policies, and processes implemented to measure and manage each type of risk.

The Group does not use derivative financial instruments to hedge any of the aforementioned risks.

General objectives, policies and processes

The Board of Directors is responsible for establishing and overseeing the Group's risk management objectives and policies and, although it has the ultimate responsibility, has delegated to Group Management the responsibility of designing and implementing processes that ensure the effective implementation of these objectives and policies. Therefore, Management periodically reports to the Board on the progress of risk management activities and results. The overall objective of the Board of Directors is to establish policies that seek to reduce risk as much as possible without unduly affecting the Group's competitiveness and flexibility.

The Group's risk management policy is established to identify and analyze the risks faced by the Group, in order to establish appropriate risk limits and controls to monitor risks and compliance with them. Risks and risk management methods are regularly reviewed to reflect changes in market conditions and the Group's activities. By providing training and implementing management standards and procedures, the Group seeks to develop a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Group seeks to use appropriate financing methods to minimize capital costs and effectively manage and control its financial risks. Unless otherwise indicated in this Note, there have been no material changes in the Group's exposure to financial instrument risks, its objectives, policies and processes for managing such risks, or the methods used to measure them compared to prior periods.

The Group has adopted a code of ethics applicable to its senior executive, financial, and accounting leaders, as well as all its employees.

The principal risks and uncertainties facing the business, listed below, are not presented in any particular order of relative importance or probability of occurrence.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
54

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Credit risk

Credit risk is the risk of financial loss if a customer or counterparty of the Group fails to meet its contractual obligations. It arises primarily from trade and other receivables, as well as cash and deposits with financial institutions.

The credit risk to which the Group is exposed is defined primarily in the Group's accounts receivable, followed by cash and cash equivalents, given that they are logically important in allowing the Group to meet its short-term needs.

Trade receivables and other receivables

Credit risk is the risk of financial loss if a customer or counterparty of the Group fails to fulfill its contractual obligations. It arises primarily from trade receivables and other receivables arising from the sale of services and products, and from financing from other Group companies. The Group is also exposed to political and economic risks, which may result in non-payment of local and foreign currency obligations assumed by the Group's customers, partners, contractors, and suppliers.

The Group sells its products to a diverse customer base. These include multinational and local agricultural companies, distributors, and farmers who purchase the Group's products. The type and class of customers may vary depending on the Group's business segments.

To determine the concentration of credit risk, Group Management periodically monitors the credit rating of existing customers and analyzes the aging of commercial loans monthly. To monitor credit risk, customers are grouped based on their credit characteristics.

The Group's policy is to manage credit exposure to counterparties with which it transacts through a credit rating process. The Group conducts credit assessments of existing and new customers, and each new customer is thoroughly reviewed for credit quality before offering transaction terms. The Group's analysis includes external credit rating information, where available. Furthermore, if independent external credit ratings are unavailable, the Group assesses the customer's credit quality, taking into account their financial position, past experience, banking references, and other factors. A credit limit is set for each customer. These limits are reviewed periodically. Customers who do not meet the Group's credit quality criteria may do business with the Group by paying upfront or providing collateral satisfactory to the Group. The Group may request any collateral it deems necessary, regardless of the customer's credit profile.

To cover trade credit, the Group maintains credit insurance for its main subsidiaries, which periodically analyzes its customer portfolio.

The financial statements contain specific provisions for doubtful accounts, which, in management's estimation, adequately reflect the loss inherent in doubtful accounts. The Group's maximum exposure to credit risk is represented by the carrying amount of each financial asset in the Statement of Financial Position after deducting the allowance for impairment.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
55

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Therefore, the allowance for losses as of June 30, 2025 was determined as follows:

June 30, 2025	Current			Overdue more than 15 days			Overdue more than 30 days			Overdue more than 60 days			Overdue more than 90 days			Overdue more than 120 days			Overdue more than 180 days			Overdue for more than 270 days			Overdue more than 365 days			Total
Expected loss rate		0.12	%		0.03	%		0.03	%		0.04	%		0.00	%		0.04	%		21.01	%		27.52	%		77.35	%
Trade receivables		76,490,140			12,176,578			4,563,373			862.258			3,253,229			867,279			8,902,608			9,877,842			12,811,850			129.805.157
Provision for impairment of trade receivables		92.005			3.849			1,570			320			130			362			1,870,600			2,718,736			9,909,871			14,597,443

Cash and bank deposits

The Group is exposed to the credit risk of its counterparties through its cash and cash equivalents. The Group maintains cash deposits with various financial institutions. The Group manages its credit exposure risk by restricting its individual deposits to clearly defined limits. The Group only makes deposits with high-quality banks and financial institutions.

The maximum exposure to credit risk is represented by the carrying amount of cash and cash equivalents in the Statement of Financial Position.

Liquidity risk

Liquidity risk is the risk that the Group will not be able to meet its financial obligations when due.

The Group's approach to managing its liquidity risk consists of managing its debt maturity profile and funding sources, maintaining sufficient cash, and ensuring the availability of funding from an adequate amount of committed credit lines. However, the Group currently faces financial uncertainty, as described in Note 2.3. In this context, the Group is evaluating and implementing various alternatives. In particular, significant progress has been made in optimizing working capital and adapting its cost structure to current market conditions. Discussions are ongoing with local financial institutions to refinance existing liabilities and restore confidence, while long-term financing options or capital increases are being analyzed for the parent company, Bioceres Crop Solutions.

To manage its current and future financing capacity, the Group always seeks to maintain diversified sources of financing by obtaining adequate financing lines from high-quality lenders.

Cash flow projections are prepared both individually for each entity and on a consolidated basis. The projections are reviewed by the Board in advance, allowing it to anticipate the Group's cash needs. The Group reviews its liquidity needs projections to ensure it has sufficient cash to meet its operating needs, including the amounts required to settle financial liabilities.

Cash flow generation over the next twelve months depends on the success of the initiatives mentioned in Note 2, which cannot be guaranteed as they depend on factors beyond the Group's control. The uncertainty regarding our ability to secure additional financing indicate the existence of a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
56

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

The following table presents the contractual maturities of financial liabilities:

As of June 30, 2025	Up to 3 months		3 to 12 months		Between one and three years
Trade payables and other payables		14,495,975		47,370,440		-
Trade payables and other payables to related parties		8,596,307		-		54,980,626
Borrowings		88,824,605		46,192,288		42,225,148
Related-party Borrowings		-		-		13,543,010
Lease liability		1,195,513		1,890,308		10,078,231
Total		113.112.400		95.453.036		120.827.015

As of June 30, 2024	Up to 3 months		3 to 12 months		Between one and three years
Trade payables and other payables		28,066,562		19,466,488		-
Trade payables and other payables to related parties		41,334,519		1,300,966		-
Borrowings		64,190,851		38,441,911		51,988,643
Related-party Borrowings		3,311,260		17,383,974		26.716
Lease liability		666.065		1,896,176		7,253,600
Total		137,569,257		78,489,515		59,268,959

As of June 30, 2025 and 2024, the Group was not exposed to derivative liabilities.

Exchange rate risk

Foreign exchange risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in exchange rates. Foreign exchange risk arises when the Group conducts transactions in a currency other than its functional currency.

The following table shows our net exposure to foreign exchange risk as of June 30, 2025:

	June 30, 2025
Concept	Amount in foreign currency
ASSET
Cash and cash equivalents		19,703,541
Trade receivables and other receivables		29,124,979
Trade receivables and other receivables from related parties		6,725,209
TOTAL ASSETS		55,553,729
PASSIVE
Trade payables and other payables		25,901,970
Trade payables and other payables to related parties		382.245
Borrowings		25,031,292
Related-party Borrowings		274,994
Employee benefits and social security		5,176,972
Employee benefits and social security with related parties		65.006
Total LIABILITIES		56,832,479

Considering only this net exposure to foreign exchange risk as of June 30, 2025, if there were a revaluation or depreciation of the U.S. dollar against other foreign currencies and all other variables remained constant, there would be a positive or negative impact on comprehensive income due to exchange rate differences. We estimate that a 10% devaluation or appreciation of the U.S. dollar relative to other currencies during the year ended June 30, 2025, would have resulted in a net pre-tax loss or gain of approximately $127,000.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
57

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Interest rate risk

The Group's financing costs may be affected by interest rate volatility. In accordance with the Group's interest rate management policy, the Group's borrowings may be at either fixed or floating rates. The Group maintains adequate committed borrowing facilities and most of its financial assets are in cash or cashed customer checks ready to be converted into fixed amounts of cash.

The Group's interest rate risk primarily arises from long-term borrowings. Borrowings issued at variable rates expose the Group to cash flow interest rate risk. Borrowings issued at fixed rates expose the Group to fair value interest rate risk. The Group has not entered into derivative contracts to hedge this exposure.

The composition of the Group's debt is presented below :

	June 30, 2025		June 30, 2024
	Book value		Book value
Fixed rate instruments
Current financial liabilities		112,031,893		112,867,749
Non-current financial liabilities		42,225,148		33,021,923
Variable rate instruments
Current financial liabilities		22,985,000		1,366,667
Non-current financial liabilities		-		-

Considering that variable-rate bank and financial debt is not significant, a decrease or increase in interest rates would not have a material impact.

The Group does not use derivative financial instruments to hedge its exposure to interest rate risk.

Capital risk

The Group's objectives in managing capital are to safeguard the Group's ability to continue operating as a going concern, in order to provide returns to shareholders and benefits to other stakeholders, while maintaining an optimal capital structure that reduces the cost of capital.

The Group manages its capital structure and makes adjustments based on changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust its capital structure, the Group may adjust the amount of dividends it could pay to shareholders, return capital, issue new shares, or sell assets to reduce debt.

Financial instruments by category

The following tables show, for financial assets and liabilities recorded as of June 30, 2025 and 2024, the additional information required by IFRS 7.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
58

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Financial assets by category

	Amortized cost				Fair value through profit or loss
Financial asset	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Cash and cash equivalents		9,101,732		11,750,946		14,796,489		17,754,952
Other financial assets		128		172,969		1,086,109		7,366,956
Trade receivables and other receivables		121.435.141		114,651,152		-		-
Trade receivables and other receivables from related parties		100.900.551		83.812.520		-		-
Total		231,437,552		210.387.587		15,882,598		25,121,908

(*) Advances for expenses and tax balances are not included.

Financial liabilities by category

	Amortized cost				Fair value through profit or loss
Financial liabilities	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Trade payables and  other payables		60,041,679		46,521,721		1,824,736		1,011,329
Trade payables and other payables to related parties		63,576,933		42,635,485		-		-
Borrowings		177.242.041		147,256,339		-		-
Related-party Borrowings		13,543,010		20,765,824		-		-
Employee benefits and social security		5,217,077		3,561,284		-		-
Employee benefits and social security with related parties		65.006		135.178		-		-
Lease liability		13,164,052		9,815,841		-		-
Total		332,849,798		270,691,672		1,824,736		1,011,329

Financial instruments measured at fair value

Fair value by hierarchy

In accordance with the requirements of IFRS 7, the Group categorizes each class of financial instruments valued at fair value into three levels, depending on the relevance of the judgment associated with the assumptions used to measure fair value.

Level 1 comprises financial assets and liabilities whose fair values have been determined by reference to quoted prices (unadjusted) in active markets for identical assets and liabilities.

Level 2 comprises data other than quoted prices included in Level 1, which are observable for the asset or liability, both directly (i.e., prices) and indirectly (i.e., derived from prices).

Level 3 comprises financial instruments for which the assumptions used in estimating fair value are not based on information observable in the market.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
59

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

Measured at fair value as of 06/30/2025	Level 1		Level 2		Level 3
Financial assets at fair value
Other financial assets		1,086,109		-		-
Mutual funds		14,796,489
Financial liabilities at fair value
Trade payables and  other payables		-		1,824,736		-

Measured at fair value as of 06/30/2024	Level 1		Level 2		Level 3
Financial assets at fair value
Other financial assets		2,539,326		-		-
Mutual funds		22,582,582		-		-
Financial liabilities at fair value
Trade payables and other payables		-		1,011,329		-

Estimation of fair value

The fair value of marketable securities, mutual funds, stocks and U.S. Treasury bills is calculated using the market approach based on market quotations of identical assets. The quoted market price used for financial assets held by the Group is the current offered price. These instruments are included in Level 1.

The Group's financial liabilities, which were not traded in an active market, were determined using valuation techniques that maximize the use of available market information and, therefore, rely as little as possible on entity-specific estimates. If all significant inputs required to value an instrument are observable, the instruments are included in Level 2.

If one or more of the significant inputs are not based on observable market data, the instruments are included in Level 3.

The Group's policy is to recognize transfers between different categories of the fair value hierarchy as they occur or when there are changes in the circumstances that trigger the transfer. No transfers occurred between fair value levels. There have been no changes in economic or business circumstances that affect fair value.

16. SHARE BASED PAYMENTS

2023 Omnibus Stock Incentive Plan

Crop Solutions stock option plan to certain directors, executive officers and management of the Group.

- Base Plan: to be consolidated and exercisable in equal installments on June 30, 2023, June 30, 2024, and June 30, 2025, with an exercise price of US$10.47.

- Performance Plan: to vest and become exercisable if the Group's fiscal year 2025 EBITDA reaches at least USD 120 million and up to USD 150 million, and to vest proportionally up to 100% if EBITDA reaches or exceeds USD 150 million. These options also have an exercise price of USD 10.47.

The fair value of the stock options at the grant date was estimated using the Black-Scholes model considering the terms and conditions under which the stock options were granted and adjusted to consider the potential dilutive effect of future exercise of the options.

Factor	Omnibus plan
Average share value		10.79
Strike price		10.47
Weighted average volatility		54.73	%
Dividend rate		0	%
Weighted average risk-free interest rate		4.47	%
Weighted average expected life		2.97 years
Weighted average fair value of stock options at the measurement date		4.47

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
60

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

There are no market-related performance conditions or non-vesting conditions that should be considered in determining the fair value of the options.

The Group estimates that 100% of the stock options will be exercised, taking into account the historical tenure patterns of executives and the likelihood of options being exercised. This estimate is reviewed at the end of each annual or interim period.

The following table shows the weighted average amount and exercise price and movements of the Group's executive and director stock options during the year:

	June 30, 2025
	Number of options			Strike price
At the beginning		1,628,334			4.55
Cancelled during the year		(758,334	)		4.55
At closing		870,000			4.47

As of June 30, 2025, expenses associated with the stock-based incentive plans amounted to $1,894,624, recorded in earnings within "Stock-based incentives." Of this amount, $1,887,988 were recognized by the Company incurring a debt with Bioceres Crop Solutions Corp. The remaining $6,636 are part of the Company's equity, included in "Earnings from investments accounted for using the equity method."

As of June 30, 2024, expenses associated with the stock-based incentive plans amounted to $2,225,861, recorded in results within "Stock-based incentives." Of this amount, $2,168,575 were recognized by contracting a debt by the Company with Bioceres Crop Solutions Corp. The remaining $57,286 are part of the Company's net equity included in "Results from investments accounted for using the equity method."

17. ENCUMBERED ASSETS AND ASSETS OF RESTRICTED AVAILABILITY.

The encumbered assets and assets with restricted availability as of June 30, 2025, are detailed in the following table:

Detail	Asset value		Type of debt	Amount of debt		Type of restriction	Bank
Computer equipment		307,371	Commercial		501.130	Leasing		HP
Total		307,371			501.130

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
61

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Corresponding to the fiscal year beginning on July 1, 2024, and ending on June 30, 2025,

presented in comparative form (values in thousands of pesos)

18. CONTINGENCIES, COMMITMENTS AND RESTRICTIONS ON THE DISTRIBUTION OF PROFITS

(a) Contingencies

There are several administrative, judicial, and extrajudicial proceedings arising from the ordinary course of business in which Rizobacter's subsidiaries and/or related companies are involved. The Group estimates that these proceedings, or the cumulative effect of all of them considered together, will not have a significant adverse effect on the Group's financial condition or future results of operations, taking into account the opinions of its legal and professional advisors and the contingency provisions recorded at year-end.

(b) Restrictions on the distribution of profits

Retained Earnings from First-Time Adoption of IFRS

In accordance with the provisions of RG 609/12 of the CNV, the positive unallocated results as of June 30, 2015, due to the adoption of IFRS, were reassigned to a Special Reserve, which was approved by the Shareholders' Meeting held on September 14, 2015, which considered the corresponding individual and Consolidated financial statements ended on June 30, 2015.

The Special Reserve may only be withdrawn for capitalization or to absorb any negative balances in the "Unallocated Earnings" account.

Legal Reserve

Pursuant to Article 70 of the Commercial Companies Law No. 19,550, every company must allocate 5% of its net profits each year to a legal reserve until it reaches 20% of its adjusted share capital.

19. COMPLIANCE WITH THE PROVISIONS OF RG No. 629/2014 CNV

In compliance with General Resolution No. 629/2014 and its complementary Resolution No. 632/2014 of the National Securities Commission (CNV), we inform that the commercial books, the corporate books, and the accounting records, as well as the supporting documentation, are located at the registered office at Avda. Dr. Arturo Frondizi No. 1150 - Industrial Park, Pergamino, Province of Buenos Aires.

20. ECONOMIC CONTEXT IN WHICH THE GROUP OPERATES

The Group operated in a complex economic environment, with key variables experiencing significant volatility, both domestically and internationally.

The main indicators in our country were:

· The country ended 2024 with a 1.7% drop in activity, according to preliminary GDP data.

· Cumulative inflation between July 1 and June 30, 2025, reached 42.07% (CPI).

Between July 1, 2024, and June 30, 2025, the peso depreciated against the US dollar, from $910.50/US$ at the beginning of the period to $1,200.50/US$ at the end of the period.

The Group's financial statements should be read in light of these circumstances.

21. EVENTS SUBSEQUENT TO THE REPORTING PERIOD

Since June 30, 2025, no other situations or circumstances have occurred other than those already mentioned that could require significant adjustments or new disclosures in the consolidated financial statements.

Free translation from the original prepared in Spanish for publication in Argentina

See our report dated September 5, 2025 PRICE WATERHOUSE & Co. SRL
( Partner) CPCE Prov. Bs . As. Tº 1 - Fº 33 – Legajo 33 Dr. Andrés Suarez Public Accountant (UBA) CPCE Prov. Bs . As. T° 181 – F° 237 – Leg. 47248/4 CUIT: 20-17203505-2	CP Humberto Santoni Supervisory Commission	Marcelo Adolfo Carrique President
62