AGI Announces Fourth Quarter 2025 Results, Provides Corporate Update and Restructuring Plan

Winnipeg, MB, March 24, 2026 – Ag Growth International Inc. (TSX: AFN) (“AGI”, the “Company”, “we”, or “our”) today announced its financial results for the three-month period ending December 31, 2025.

Fourth Quarter 2025 Highlights

• Revenue of $396 million increased by 4% year-over-year (“YOY”)
• Adjusted EBITDA¹ of $48 million decreased by 38% YOY
• Adjusted EBITDA Margin %² of 12.2% declined by 829 basis points YOY, primarily due to lower Farm volumes impacting overhead absorption, execution‑related issues on traditional equipment-only projects in Brazil that led to cost overruns, warranty charges, and bad debt write-offs, as well as product mix and production efficiency issues in our North American Commercial business
• Net debt leverage ratio² of 4.7x at Dec 31, 2025 vs 3.9x at Sept 30, 2025 and 3.1x at Dec 31, 2024
• The investment vehicle in Brazil designed to monetize financing receivables provided by AGI collected inflows of $7 million to-date with notable progress on securing material additional inflows near-term

Outlook

• Order book³ down 26% YOY to $543 million as of December 31, 2025 primarily owing to the execution of several significant projects in our International Commercial segment
• Farm segment remains exposed to ongoing cyclical market conditions which limits near-term visibility
• Commercial segment order intake softened in late 2025 and early 2026 amid longer customer review cycles

^{¹ Non-IFRS financial measure. See “Non-IFRS and Other Financial Measures”.
          - Fourth quarter 2025 loss before income taxes of $(44.7) million.
² Non-IFRS ratio. See “Non-IFRS and Other Financial Measures”.
³ Supplementary financial measure. See "Non-IFRS and Other Financial Measures".}