Slides
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AGCO Technology Event O C T O B E R 6 , 2 026
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2 Safe Harbor Forward-looking statements in this presentation, including statements about our strategic plans and initiatives as well as their financial impacts, demand, product development, and capital expenditure plans and timing of those plans, and our expectations with respect to the costs and benefits of those plans and timing of those benefits, future revenue, crop production and farm income, production levels, price levels, margins, earnings, operating income, cash flow, engineering expense, tax rates, and other financial metrics, are subject to risks that could cause actual results to differ materially from those suggested by the statements. These risks include, but are not limited to, adverse developments in the agricultural industry, including those resulting from any, supply chain disruption, inflation, tariffs, weather, commodity prices, changes in product demand, interruptions in the supply of parts and products, the possible failure by us to develop new and improved products on time, including premium technology and smart farming solutions, within budget and with the expected performance and price benefits, difficulties in integrating the PTx Trimble businesses in a manner that produces the expected financial results, introduction of new or improved products by our competitors and reductions in pricing by them, the war in the Ukraine, difficulties in integrating acquired businesses and in completing expansion and modernization plans on time and in a manner that produces the expected financial results, and adverse changes in the financial and foreign exchange markets. Actual results could differ materially from those suggested in these statements. Further information concerning these and other risks is included in AGCO’s filings with the SEC, including its Form 10-K for the year ended December 31, 2025, and subsequent Form 10-Q filings. AGCO disclaims any obligation to update any forward-looking statements except as required by law.
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Evolution From Equipment Manufacturer to Farm Technology Platform Provider 3 COMPLICATION Situation Investors have valued AGCO on units, replacement cycles and commodity exposure. Precision ag is an open frontier. Complication Real farms run mixed fleets and will not replace everything at once. A closed equipment or data ecosystem cannot serve them. Resolution PTx reaches the whole farm: retrofit or factory fit, and Panorama and FarmENGAGE turn every pass into data, workflow and recurring value. 1 INDUSTRIAL EQUIPMENT COMPANY 2 CONNECTED EQUIPMENT 3 DATA AND ANALYTICS PLATFORM 4 SOFTWARE AND SERVICES 5 CUSTOMER OUTCOME PLATFORM AGCO has already moved past connected equipment. The platform layers are in place.
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Put the Farmer at the Center
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DATA We Design Around the Farmer, Not a Closed Ecosystem 5 TECHNOLOGY PTx retrofit-first and mixed-fleet, so adoption never waits for a machinery trade or development cycle. SERVICE FarmerCore brings the dealership to the farmer through mobile, digital and on- farm service solutions. MACHINES Premium brands and purpose-built solutions that fit each farming operation, rather than forcing farmers into a single equipment ecosystem. Farmers choose how they buy, how they adopt technology and how they are served. FARMER PROBLEMS AGCO SOLUTIONS LABOR PROFIT
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Retrofit Accelerates Adoption. Factory Fit Scales It. 6 EQUIPMENT ON THE FARM TODAY PTx RETROFIT PROVEN AGRONOMIC VALUE AGCO & OEM FACTORY FIT CONNECTED MIXED FLEET WHY RETROFIT MATTERS Adoption no longer waits for a machinery- replacement or development cycle. PTx is a lower-cost entry point and upgrades machines that still have useful mechanical life, so the farmer can start today. WHY IT IS AN ENTRY POINT Retrofit opens farms that would otherwise be closed to us. The relationship starts with technology, not a trade — and it begins the recurring data and service relationship.
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The Barriers to North American Growth Have Been Addressed 7 Historical barrier What changed Investor implication Product Fendt and PTx closed the gap Best-in-class in key categories Channel PTx dealer channel and FarmerCore service model improves reach and response Able to engage farmers on their terms Data platform FarmENGAGE and Panorama, converging The foundation to compete and win Access to farms PTx retrofit works regardless of brand A place on virtually any farm today 53% (2018) 74% (2024)* FENDT BRAND AWARENESS North American growth is increasingly a function of execution rather than structural limitation. *Based on 2018 and 2024 Ducker Carlisle studies.
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Fendt's North American Gains Are Built to Last 8 Share earned on product, lower switching risk and uptime, not on price. T H E R E S U LT ~11% 1 Combined Fendt and Massey Ferguson share in North America, large tractors Up from ~5% in 2017 Price held while share grew 10–20%2 fuel savings Product CVT saves fuel in every operation, and the cab is built for long days. 3 yrs bumper-to-bumper warranty Lower risk to switch 3-year Gold Star warranty vs. 2-year norm, plus a loaner after 24 hours. >90% customer fill rate Uptime Parts when needed, plus FarmerCore technicians who come to the farm. Every Fendt ships with PTx technology and FarmENGAGE fitted at the factory, so each machine we sell grows our connected base. 1 Combined Fendt and Massey Ferguson retail unit share, U.S. and Canada; source: internal estimates 2 Fuel savings vs. conventional powershift transmission; results vary by operation Dealer Inventories Down
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Self-help Strengthens Our Ability to Invest in Growth 9 Strengthening our cost base and execution creates capacity to invest in equipment, precision agriculture and farmer support. Improving the business from within, not relying on market recovery. RE-IMAGINE Simplify operations and reduce SG&A expense. LOWER-COST- COUNTRY SOURCING Improve product-cost competitiveness. QUALITY IMPROVEMENTS Reduce the cost of poor quality. INTERNAL AI Improve productivity and execution.
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Extend Value Across the Mixed Fleet
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Precision Ag Is a Two-Horse Race: One Closed, One Open 11 Features can be copied. The combination requires giving up on the closed model. ADVANTAGE Retrofit-first by design The whole installed base Specialized Technology dealers Service on the farm 1/3rd of PTx revenue from retrofit 53.5% of Panorama's processed acreage comes from John Deere data imports 90+ Elite PTx dealers, plus 320+ AGCO dealers offering base PTx technology FarmerCore offers service jobs on other brands in NA WHY IT’S HARD TO COPY Opening technology to competitive fleets would dilute a key differentiator for new machine sales Requires an openness that a closed model is built to resist Competitors sell precision tech as an add-on to iron; Elite PTx dealers sell and support it as their primary business Requires redesigning the dealer model, not adding a product 100+ brands utilize PTx products PROOF 65% of PTx revenue from non- AGCO machines
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Panorama Turns Every Pass into Data the Farmer Can Act On 12 AT THE POINT OF WORK Agronomic and implement-level data from planting, spraying and harvest — shared coverage and real- time field visibility. DECISIONS, NOT DASHBOARDS High-quality, accessible data that helps growers cut input use, avoid yield loss and reduce idle time across the operation. AI BUILT IN — AURORA Ask in plain language, by voice or text. Aurora summarizes field activity, surfaces anomalies and acts inside the app. One platform for agronomic and machine data — open to the whole farm, with AI built in. 60% more applied acres processed in 2026 than in 2025 Open both ways Imports from the 20|20, John Deere Operations Center and Fendt and Case monitors — and pushes back out to the farmer's trusted platforms. One monitor, five machines The 20|20 runs planter, sprayer, combine, seeder and fertilizer applicator — every pass feeds Panorama. 60% more applied acres processed in 2026 than in 2025 Open both ways Imports from the 20|20, John Deere Operations Center and Fendt and Case monitors — and pushes back out to the farmer's trusted platforms. One monitor, five machines The 20|20 runs planter, sprayer, combine, seeder and fertilizer applicator — every pass feeds Panorama.
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Prove the Farmer Value
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SymphonyVision SymphonyNozzle Reduced chemical use Higher profitability and efficiency 20|20, vDrive, ArrowTube Improved planting consistency Higher yield potential OutRun Less labor dependency More productivity per employee Panorama FarmENGAGE Better decisions across brands Better outcomes on the whole farm Technology Matters When it Solves a Farmer Problem INPUT COST PLANTING LABOR DECISION MAKING
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AGCO Leading in Autonomy 15 In Development In Development Alpha Production Production PLANTING SPRAYING FERTILIZING TILLAGE HARVESTING
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AGCO Applies AI to Produce Measurable Farmer Outcomes 16 AI leadership is measured in farm performance – yield, inputs and labor – not in model size. SENSE UNDERSTAND DECIDE ACT WHERE IT SHOWS UP TODAY Computer vision in spraying, machine and implement automation, decision support and autonomy development. AURORA The AI assistant inside Panorama. Live with customers today, and the clearest example of AI inside the farmer's daily workflow. AN EMERGING FRONTIER AI-generated work plans based on farmers’ data.
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Aurora is Live AI Inside Panorama, Already in Customers’ Hands 17 Shipping technology, not a concept — and the farmer's data stays the farmer's. ~175 conversations a week from customers, and climbing ~570 distinct farmers and dealers using Aurora ~520 operations, across the US, South America, Australia, Europe and NZ A FEATURE, NOT A PRODUCT Inside Panorama the way Siri sits inside a phone — available to every customer. SHIPPING, NOT DEMOING Smart Summaries fall 2025. Conversational chat June 2026. IT ACTS, NOT JUST ANSWERS Pull up a view, filter data, make a change — voice or text, 50+ languages.
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Convert the Strategy Into Growth
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Four Growth Engines Support the 2029 Path 19 DEALER EXPANSION A larger Elite PTx network, plus base PTx through AGCO and CNH dealers. OEM GROWTH The technology extended through external manufacturers. NEW PRODUCTS A continuing pipeline across the crop cycle. FarmENGAGE and Panorama Mixed-fleet machine and workflow management. $2 BILLION IN ANNUAL PTx REVENUE BY 2029
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The Innovation Flywheel – Solutions Across the Crop Cycle 20 PLANNING AND PREP Creating a farm ecosystem that connects technology, data and machines across brands. FarmENGAGE, Panorama, Aurora PLANTING Optimizing inputs. Precision Planting Technology APPLICATION Taking care of the land responsibly. Symphony Product Family HARVESTING Accomplishing all necessary tasks with reduced labor. OutRun Autonomy ALL STAGES Maximizing machine performance and farm insights. FarmerCore Time savings, input savings and yield gains +9%* Net Farm Income with Fendt MOMENTUM Planter and ArrowTube +9.2%* Net Farm Income with SymphonyVision | Duo and SymphonyVision | Spot +14.6%* Net Farm Income with OutRun | Harvest and OutRun | Tillage Faster response times, improved efficiency and more uptime * Net Farm Income (NFI) represents the estimated annual economic benefit to a representative 6,000 -acre Midwest U.S. corn and so ybean farm, based on validated improvements in yield, input utilization and/or operational efficiency, net of the associated technology investment costs.
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Two Engines, Two Lenses 21 Retrofit gets us on the farm so our opportunity is no longer limited by annual machinery production. MACHINERY BUSINESS Units shipped each year AGCO units sold per year At the sale Tied to replacement decisions PTx PLATFORM The installed base, on any brand Machines in the field across all brands At the sale, then every season after Retrofit payback of <24 months Hardware margins Addressable base When revenue comes in Sensitivity to the cycle What drives revenue Margin profile Above the AGCO average Value the Machinery Business on the Cycle and PTx on the Installed Base
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Q&A