Terra Santa Agro SA, formerly Vanguarda Agro SA, is a Brazil-based company primarily involved in the agricultural sector. The Company focuses on the cultivation of soybean, cotton and corn; sale of agricultural inputs; processing of seed cotton; provision of storage services for agricultural inputs and products, as well as provision of soil preparation and harvesting services using agricultural machinery. The Company's activities related to the cultivation are carried out on its own land and land leased from third and related parties. The Company operates through a number of subsidiaries, such as Buriti Agricola Ltda, Crateus Algodoeira SA, Ecotrans Transporte Servicos e Locacao de Equipamentos e Maquinas Ltda, Mocuri Agricola Ltda, Maeda SA Agroindustrial and Vanguarda Participacoes SA.

Sales Analysis. During the year ended December of 2019, sales at Terra Santa Agro SA were 877.06 million Brazilian Reals (US$165.89 million). This is an increase of 4.2% versus 2018, when the company's sales were 841.57 million Brazilian Reals. The sales level in 2019 was fairly close to the level five years ago: in 2014, Terra Santa Agro SA had sales of 871.19 million Brazilian Reals. Sales of Products Resale saw an increase that was more than double the company's growth rate: sales were up 56.1% in 2019, from 108.54 million Brazilian Reals to 169.42 million Brazilian Reals. Terra Santa Agro SA also saw significant increases in sales in Cotton (up 39.2% to 26.35 million Brazilian Reals) . Not all segments of Terra Santa Agro SA experienced an increase in sales in 2019: sales of Corn fell 32.9% to 57.91 million Brazilian Reals. Terra Santa Agro SA also experienced decreases in sales in Cotton In Plume (down 1.8% to 324.98 million Brazilian Reals) .