Fiscal First Quarter 2024 Financial and Operating Results [Financial & Business Highlights](index=2&type=section&id=FINANCIAL%20%26%20BUSINESS%20HIGHLIGHTS) Bioceres reported total revenues of $116.6 million and Adjusted EBITDA of $16.3 million for 1Q24, showing recovery from drought, alongside key operational achievements Financial & Business Highlights | Metric | 1Q24 | 1Q23 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $116.6M | $127.1M | (8%) | | Adjusted EBITDA | $16.3M | $24.5M | (34%) | - A groundbreaking U.S. patent was awarded for the company's UHC® technology, which sets a new standard in biological nitrogen fixation for legumes[10](index=10&type=chunk)[14](index=14&type=chunk) - Construction of a new state-of-the-art adjuvant production plant in Londrina, Brazil was completed to expand the company's footprint in the Brazilian market[4](index=4&type=chunk) - The HB4 wheat harvest is underway in Argentina with favorable preliminary results compared to non-HB4 varieties, despite the season being affected by drought[30](index=30&type=chunk) [Management Review](index=2&type=section&id=MANAGEMENT%20REVIEW) Management noted a return to momentum with normalized weather, strong adjuvant and biostimulant sales, and significant growth in the Generation HB4 Program - The CEO stated that with normalized rain patterns, the company has regained momentum, which is expected to accelerate in subsequent quarters, contrasting with 1Q23's record performance that was partly due to pulling sales forward ahead of a historic drought[11](index=11&type=chunk)[7](index=7&type=chunk) - The CFO highlighted key positive trends in the quarter, including the recovery of adjuvant sales, growth from the UBP biostimulants platform, and margin expansion from the bioprotection portfolio[35](index=35&type=chunk) - The Generation HB4 Program is experiencing significant growth, with current acreage at **150% of the prior season**, including a six-fold increase in Brazil[34](index=34&type=chunk) [Detailed Financial Analysis](index=4&type=section&id=Detailed%20Financial%20Analysis) This section details the company's financial performance, including an 8% revenue decline, 13% gross profit decrease, and 34% Adjusted EBITDA reduction, primarily due to Crop Nutrition [Revenue Analysis](index=4&type=section&id=Revenue%20Analysis) Total revenue decreased 8% to $116.6 million, with Crop Protection down 11%, Seed and Integrated Products up 61%, and Crop Nutrition down 24% Revenue by Segment | Revenue by Segment | 1Q24 ($M) | 1Q23 ($M) | % Change | | :--- | :--- | :--- | :--- | | Crop protection | 55.9 | 63.0 | (11%) | | Seed and integrated products | 22.3 | 13.8 | 61% | | Crop nutrition | 38.3 | 50.3 | (24%) | | **Total revenue** | **116.6** | **127.1** | **(8%)** | - Crop Protection sales fell **11%** as the company exited low-margin third-party products, which offset a **32%** year-over-year increase in high-margin adjuvants[18](index=18&type=chunk)[40](index=40&type=chunk) - Seed and Integrated Product sales grew **61%**, primarily due to downstream sales of first-generation HB4 wheat inventories as grain to processors in the Generation HB4 program[20](index=20&type=chunk) - Crop Nutrition sales decreased **24%**, overshadowed by extraordinary sales of micro-beaded fertilizers in 1Q23 which benefited from high prices and concentrated seasonal sales[18](index=18&type=chunk)[44](index=44&type=chunk) [Gross Profit Analysis](index=5&type=section&id=Gross%20Profit%20Analysis) Total gross profit declined 13% to $45.0 million, with gross margin contracting to 38.6%, driven by a significant drop in Crop Nutrition Gross Profit by Segment | Gross Profit by Segment | 1Q24 ($M) | 1Q23 ($M) | % Change | | :--- | :--- | :--- | :--- | | Crop protection | 19.7 | 17.9 | 10% | | Seed and integrated products | 8.2 | 8.3 | (1%) | | Crop nutrition | 17.0 | 25.2 | (32%) | | **Total Gross profit** | **45.0** | **51.4** | **(13%)** | - Despite lower sales, Crop Protection gross profit increased by **10%** as the company shifted from low-margin products to higher-margin adjuvants and bioprotection products[24](index=24&type=chunk) - Crop Nutrition gross profit declined by **32%**, primarily due to lower sales of micro-beaded fertilizers and normalized gross margins compared to the unusually high margins in 1Q23[25](index=25&type=chunk) [Operating Expenses](index=5&type=section&id=Operating%20Expenses) SG&A expenses decreased 6% to $25.7 million due to synergies and cost controls, while R&D increased to $3.1 million for new product registrations - SG&A expenses (excluding D&A and other items) decreased by **6%** year-over-year to **$25.7 million**, driven by cost synergies realized in Pro Farm and cost control measures in Argentina[47](index=47&type=chunk)[27](index=27&type=chunk) - R&D expenses rose to **$3.1 million** from $2.2 million in 1Q23, mainly due to costs for registering Pro Farm products in South America and regulatory efforts for the Rinotec platform[73](index=73&type=chunk) [Adjusted EBITDA](index=6&type=section&id=Adjusted%20EBITDA) Adjusted EBITDA decreased 34% to $16.3 million, primarily due to lower gross profit, partially offset by SG&A savings and higher JV profits Adjusted EBITDA Reconciliation | Adjusted EBITDA Reconciliation | 1Q24 ($M) | 1Q23 ($M) | | :--- | :--- | :--- | | Gross profit | 45.0 | 51.4 | | SG&A (ex items) | (25.7) | (27.3) | | R&D (ex items) | (3.1) | (2.2) | | Share of profit from JVs | 1.5 | 0.8 | | Other | (2.6) | 0.5 | | **Adjusted EBITDA** | **16.3** | **24.5** | - The **$8.2 million** decrease in Adjusted EBITDA was primarily caused by a **$6.4 million** decline in gross profit, partially offset by **$1.6 million** in SG&A savings and a **$0.7 million** increase in profits from JVs[75](index=75&type=chunk) [Financial Income and Loss](index=7&type=section&id=Financial%20Income%20and%20Loss) The net financial loss improved slightly to $7.5 million from $8.1 million, driven by a 22% decrease in net interest expenses due to one-time efficiencies Financial Result Breakdown | Financial Result Breakdown | 1Q24 ($M) | 1Q23 ($M) | | :--- | :--- | :--- | | Net interest expenses and financial commissions | (4.0) | (5.1) | | Other non-cash financial result | (3.6) | (3.0) | | **Total Net Financial Result** | **(7.5)** | **(8.1)** | - Net interest expenses and commissions decreased by **$1.1 million** compared to the prior year, mainly explained by one-time financial efficiencies from Argentine subsidiaries[53](index=53&type=chunk) [Balance Sheet and Capitalization](index=8&type=section&id=Balance%20Sheet%20and%20Capitalization) Total financial debt was $226.4 million, with net debt at $183.0 million, and the Net Debt-to-LTM Adjusted EBITDA ratio improved to 2.51x Capitalization (as of Sep 30) | Capitalization (as of Sep 30) | 2023 ($M) | 2022 ($M) | | :--- | :--- | :--- | | Short-Term Debt | 100.7 | 74.7 | | Long-Term Debt | 125.7 | 153.1 | | Cash and Equivalents | (43.5) | (51.3) | | **Total Net Debt** | **183.0** | **176.6** | | **Net Debt / LTM Adj. EBITDA** | **2.51x** | **2.78x** | - The Net Debt-to-LTM Adjusted EBITDA ratio decreased to **2.51x** from 2.78x in 1Q23, driven by a **15%** increase in LTM Adjusted EBITDA[80](index=80&type=chunk) - Total financial debt stood at **$226.4 million**, nearly unchanged from $227.8 million in 1Q23, with short-term debt constituting **44%** of the total[79](index=79&type=chunk) [Appendix](index=10&type=section&id=Appendix) This section provides supplementary information, including definitions of non-IFRS measures, details on hyperinflationary accounting, and unaudited consolidated financial statements [Use of Non-IFRS Financial Information](index=10&type=section&id=Use%20of%20Non-IFRS%20Financial%20Information) The company defines Adjusted EBITDA as a non-IFRS measure, explaining its components and limitations for investors in assessing core operating performance - Adjusted EBITDA is defined as profit/(loss) exclusive of financial income/(costs), income tax, depreciation, amortization, share-based compensation, inventory purchase allocation, and one-time transactional expenses[66](index=66&type=chunk) - Management believes Adjusted EBITDA provides useful supplemental information to investors about trends in the company's core operating performance[109](index=109&type=chunk)[91](index=91&type=chunk) [Consolidated Financial Statements](index=13&type=section&id=Consolidated%20Financial%20Statements) This section presents the unaudited Consolidated Statement of Comprehensive Income, showing a $2.7 million net loss, and the Consolidated Statement of Financial Position with $840.7 million in total assets Statement of Comprehensive Income (3-months ended Sep 30) | Statement of Comprehensive Income (3-months ended Sep 30) | 2023 ($M) | 2022 ($M) | | :--- | :--- | :--- | | Total revenue | 116.6 | 127.1 | | Gross profit | 45.0 | 51.4 | | Operating profit | 5.3 | 17.0 | | **Profit/(loss) for the period** | **(2.7)** | **3.9** | Statement of Financial Position (as of Sep 30, 2023) | Statement of Financial Position (as of Sep 30, 2023) | Amount ($M) | | :--- | :--- | | Total current assets | 395.9 | | Total non-current assets | 444.8 | | **Total assets** | **840.7** | | Total current liabilities | 311.7 | | Total non-current liabilities | 195.9 | | **Total liabilities** | **507.6** | | **Total equity** | **333.1** |

● requirements of being a public company may strain our resources and distract our management; ● IT disruptions or failures in our operating system can affect our reputation and business; ● non-compliance with anti-corruption and anti-money laundering laws can subject us to criminal and civil liability; Risks Related to our Intellectual Property ● changes in Argentine and U.S. patent law could diminish the value of patents and impair our ability to protect our product candidates; Risks Related to Operating ...

Financial Data and Key Metrics Changes - The company reported a full-year adjusted EBITDA of $81.1 million, representing a 31% increase compared to almost $62 million in the previous fiscal year [17][59] - Revenues for the fourth quarter were nearly $105 million, flat compared to the previous year and down 9% on a pro forma basis [54][56] - Annual gross margin expanded from 40% in fiscal year '22 to 44% in fiscal year '23, with gross profit reaching almost $185 million [30][59] Business Line Data and Key Metrics Changes - Crop nutrition was the best-performing segment, with a 7% year-over-year increase in revenues, driven by high-margin biostimulant sales in Europe and Brazil [55][56] - HB4 wheat revenues grew by 28% in the quarter, reaching $15.8 million, despite a 35% reduction in wheat acreage due to drought [25][62] - The legacy ProFarm part of the business became positive on an LTM basis for the first time, achieving one of the objectives set for the first 12 months [8] Market Data and Key Metrics Changes - The company faced significant weather challenges, including drought in Argentina and flooding in California, impacting product lines like micro-beaded fertilizers [27][28] - The transition from a dry La Niña pattern to an El Niño weather pattern was slower than expected, affecting crop conditions [19] - The company noted that the inventory destocking situation had a neutral impact on profitability as it focused on high-margin product sales [13][14] Company Strategy and Development Direction - The company aims to expand its portfolio of biostimulants and long-chain MBI-306 in the U.S. and Brazil, which is expected to enhance profitability [38] - The strategic agreement with Corteva Seed Applied Technologies for MBI-306 is anticipated to double the size of the joint business in Europe [26] - The company is transitioning to a more conventional business model with multipliers, allowing for a more efficient capital structure without jeopardizing future growth [70][72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate complexities and achieve growth despite external challenges [35][36] - The sentiment among farmers in Argentina is expected to improve, potentially leading to greater investment in technology and solutions offered by the company [77][100] - The company anticipates that the inventory situation is nearing resolution, which should facilitate growth in the upcoming fiscal year [75][96] Other Important Information - The total financial debt at year-end stood at almost $245 million, with a leverage ratio of 2.25 turns, down from 2.33 turns a year ago [61] - The average cost of debt decreased from approximately 9% to 7% on an annual basis [61] Q&A Session Summary Question: What is the company's outlook for the first and second quarters of fiscal '24? - Management indicated that the first quarter may be more challenging compared to the second quarter, but they are well-positioned to deliver growth [75] Question: How does the company view farmer sentiment regarding technology investment? - Management noted that farmer income in Argentina is likely to improve, which should translate into a greater appetite for technology solutions [77][100] Question: Can you explain the profitability differences between the identity preserved model and the royalty model? - The identity preserved model has a profitability of around 50%, while the royalty model can achieve profitability closer to 80% [79] Question: What is the expected impact of fertilizer price changes on business performance? - Management stated that while micro-beaded fertilizers are exposed to price dynamics, the margins remain stable, allowing for continued growth [89][113] Question: What are the expectations for the California market following recent weather events? - Management expects the situation in California to improve, allowing for resumed growth in the cash crops and high-value agriculture segment [81]

FY23 Crop Protection Seed & Integrated Products Crop Nutrition Notes: 1. Numbers presented for FY22 are pro forma reported financials including Pro Farm BIOCERES CROP SOLUTIONS 36.4 40.5 41.0 +11% +46% FY22 184.6 FY23 149.4 126.4 16.4 1Q (8.5) 2Q 27.9 3Q (0.6) 4Q +24% -1% ($ Million) 4Q22 4Q23 Pro Forma financials Gross Profit Evolution 08 09 BIOCERES CROP SOLUTIONS 4Q23 08 BIOCERES CROP SOLUTIONS Notes: 1. Compared to FY22 Baseline Business Adjusted EBITDA, that excludes Pro Farm and HB4 ramp-up costs FY23 ...

BIOCERES CROP SOLUTIONS ര Bioceres Crop Solutions Financial and Operational Results FISCAL 2023 Exhibit 99.1 FOURTH QUARTER 2023 FY23 revenues up 25% and Adjusted EBITDA at $81.1 million ROSARIO, Argentina – September 11, 2023 – Bioceres Crop Solutions Corp. (Bioceres) (NASDAQ: BIOX), a leader in the development and commercialization of productivity solutions designed to regenerate agricultural ecosystems while making crops more resilient to climate change, announced financial results for the fiscal fourth ...

Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Q3 2023 Earnings Conference Call May 11, 2023 8:30 AM ET Company Participants Paula Savanti - Head, IR Federico Trucco - CEO Enrique Lecube - CFO Conference Call Participants Ben Klieve - Lake Street Capital Markets Brian Wright - ROTH MKM Bobby Burleson - Canaccord Kemp Dolliver - Brookline Capital Markets Kristen Owen - Oppenheimer Operator Hello and welcome today’s Bioceres Crop Solutions Fiscal Third Quarter 2023 Financial Results Conference Call. My name is B ...

Exhibit 99.1 THIRD QUARTER 2023 ര Bioceres Crop Solutions Revenues increased 33% compared with 3Q22 pro forma numbers Published 2022 Sustainability Report "Each Step We Take" • Total revenues were $93.6 million in 3Q23, a 33% increase compared to the pro forma numbers for the third quarter of last year, which are inclusive of historical revenues from Pro Farm. Topline growth was primarily driven by revenues in the Crop Nutrition segment, resulting from the initial proceeds generated by the strategic partner ...

Exhibit 99.1 Table of Contents F-3 F-4 Table of Contents (1) The tax effect of the revaluation of property, plant and equipment of joint ventures and associates was nil for the three-month and six-month periods ended December 31, 2022. The tax effect of the revaluation of property, plant and equipment of joint ventures and associates was $102,306 and $195,918 for the three-month and six-month periods ended December 31, 2021. (2) The tax effect of the revaluation of property, plant and equipment was nil for ...

Financial Data and Key Metrics Changes - The company reported flat revenue compared to the previous year for the quarter, but a 7% year-over-year decline on a pro forma basis after including Pro Farm's operations [4][9] - Adjusted EBITDA for the first half of fiscal year 2023 reached almost $35 million, representing a 13% improvement compared to the first half of the previous fiscal year on a pro forma basis [81] - The company experienced a significant increase in debt due to the merger with Pro Farm, with a net financial debt of $170 million as of December 31, 2022 [107] Business Line Data and Key Metrics Changes - The Seed & Integrated Products segment saw a 7% growth, supported by the first HB4 soybean revenues despite overall revenue decline [10] - Crop Nutrition experienced the largest sales decline at 16%, primarily due to lower microbeaded fertilizers sales in Argentina [79] - Crop Protection revenues declined by 5%, with decreased demand for fungicides, insecticides, and adjuvants in Argentina, although growth continued in other regions of Latin America [104] Market Data and Key Metrics Changes - The severe drought conditions in Argentina led to a significant decline in wheat output by 50% compared to the prior year, with summer crop planting displaced by 20 to 30% outside the optimal planting window [100] - The company anticipates that improved rainfall could lead to increased winter crop acreage, helping to recover profitability losses from soybeans and corn [11] Company Strategy and Development Direction - The company aims to expand HB4 technology beyond Latin America, with plans to introduce HB4 wheat in Australia [18][85] - The merger with Pro Farm is expected to deliver substantial revenue growth and is on track to be adjusted EBITDA neutral for the full year [81][103] - The company is focusing on geographic diversification to mitigate weather-related risks, as evidenced by the HB4 soy program initiated in Brazil [104] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the drought but expressed confidence in the underlying fundamentals of the business and the potential for recovery in the second half of the fiscal year [98][108] - The company expects to see a favorable scenario for the rollout of HB4 wheat, which could help recover some of the sales lost due to drought [105] Other Important Information - The company completed a $26.6 million public offering of corporate bonds in the Argentine market to support local business operations [14] - The company has a strong cash position, with approximately $87 million available, which is well above short-term debt obligations [82] Q&A Session Summary Question: Clarification on revenue headwinds due to weather - Management noted that $20 million to $25 million in revenue was lost due to weather, with half of it being a permanent loss related to fertilizers and seed treatment packs [20][46] Question: Impact of drought on farmer spending - Management explained that farmers reduced spending on technology due to drought complications, affecting sales expectations [22] Question: Pro Farm impact on top line - Management indicated that Pro Farm's integration is progressing well, with cost synergies contributing positively to EBITDA [53] Question: Future wheat prices and planting decisions - Management stated that wheat prices are expected to remain high due to global shortages, and planting decisions will depend on weather conditions [31] Question: Updates on Syngenta agreement - Management confirmed that the Syngenta agreement is progressing well, with expectations for increased revenues from biological seed treatments [120]

BIOCERES CROP SOLUTIONS Forward-Looking Statements Unless otherwise noted, the forecasted industry and market data contained in the assumptions for the projections are based upon the Company's management estimates and industry and market publications and surveys. The information from industry and market publications has been obtained from sources believed to be reliable, but there can be no assurance as to the accuracy or completeness of the included information. The Company has not independently verified a ...