3 July 2025 – Tether Holdings (“Tether”), the largest company in the digital asset industry and Adecoagro S.A. (NYSE: AGRO) (“Adecoagro” or the “Company”), a leading sustainable production company in South America, today announced that they have signed a Memorandum of Understanding (MoU) to explore a strategic collaboration focused on bitcoin mining.

As the world moves toward cleaner, more efficient energy systems, bitcoin mining is emerging as a powerful tool to monetize surplus energy, strengthen grid stability, and support the growth of decentralized networks. This project will explore how renewable energy assets can be leveraged to support the digital economy, unlocking new efficiencies at the intersection of technology and infrastructure.

“We’re excited to explore innovative ways to maximize the value of our renewable energy assets,” said Mariano Bosch, Co-Founder and Chief Executive Officer of Adecoagro. “This project opens the door to stabilizing a portion of the energy we currently sell on the spot market, locking in pricing, while also gaining exposure to the upside potential of bitcoin.

”Tether brings to the initiative its extensive experience in the bitcoin ecosystem, backed by a rapidly expanding portfolio of sustainable mining initiatives across multiple regions. As part of our long-term strategy to support resilient energy infrastructure and decentralized networks, we’re proud to collaborate with Adecoagro,” said Paolo Ardoino, Chief Executive Officer of Tether. “This project is another step in our growing commitment to renewable-powered bitcoin mining and highlights the potential to align agricultural energy production with cutting-edge digital infrastructure. We believe this model can drive financial inclusion, promote energy efficiency, and serve as a blueprint for responsible innovation at the intersection of technology and sustainability.”

“This collaboration between Adecoagro and Tether allows us to explore a new intersection between agriculture, energy, and technology — unlocking potential efficiencies and diversifying our energy strategy in a responsible and forward-looking manner,” said Juan Sartori, Head of Business Initiatives of Tether and Executive Chairman of Adecoagro’s Board of Directors.

Adecoagro has more than 230 MW of electrical generation capacity from renewable sources across South America, and this joint project allows them to assess the potential of bitcoin mining as an alternative demand. In addition to monetizing surplus energy, Adecoagro recognizes that Bitcoin may become a new source of long term value, like its farmland assets, and plans to use this mining project to initiate certain strategic exposure to Bitcoin in its balance sheet.The design and operation of the project benefits from significant synergies between Adecoagro’s energy and industrial expertise and Tether’s capabilities in the digital asset space.

The project will be operated using Tether’s Mining OS for site management, which will be open-sourced in the coming months.

In accordance with Adecoagro’s bylaws regarding Related Party Transactions, the Company’s Independent Committee has reviewed and approved the pilot project.

Both companies will provide further updates as the project evolves.