Comment
The Company and its subsidiaries have 9 (nine) farms in 5 (five) Brazilian states and one jointly-controlled
farm in Paraguay, with total area of 255,888 hectares, including 14,263 leased hectares and 117,307
hectares in joint venture.
The activities of wholly-owned subsidiaries Cremaq Ltda. ("Cremaq"), Engenho de Maracajú Ltda.
("Engenho"), Imobiliária Jaborandi Ltda. ("Jaborandi"), Araucária Ltda. ("Araucária"), Mogno Ltda.
("Mogno"), Cajueiro Ltda. ("Cajueiro"), Ceibo Ltda. (“Ceibo”) and Flamboyant Ltda. (“Flamboyant”)
comprise the purchase and sale of properties, land, buildings and real estate in rural and/or urban areas.