ADECOAGRO S A

Ticker: AGRO CUSIP: L00849106 Class: Common Stock

PenderFund Capital Management Ltd.'s Holding History (CIK: 0001706164)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 250,000 Value ($000) $1,983 Avg Close $7.85 Range $6.89 - $8.82

Q3 2025

Shares 250,000 Value ($000) $1,960 Avg Close $8.78 Range $7.83 - $9.74

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	250,000	$1,983	$7.85	$6.89 - $8.82
Q3 2025	250,000	$1,960	$8.78	$7.83 - $9.74