AGCO Sustainability Report 2023

Farmer First.
Future Focused.
2 023 S U S TA I N A B I L I T Y R E P O RT
INTRODUCTION PURPOSE-DRIVEN INNOVATION ENVIRONMENTAL SUSTAINABILITY SOCIAL IMPACT GOVERNANCE INDEX AGCO 2023 SUSTAINABILITY REPORT 1
Contents
Introduction 2 Purpose-Driven Innovation 13 Environmental Sustainability 35

2 A letter from our CEO 14 Solutions to help farmers sustainably feed the world 36 Accelerating climate action
4 About AGCO 16 Delivering a wider spectrum of power 39 Decarbonizing our operations and value chain
5 2023 sustainability highlights 21 Enhancing precision at every step 45 Remanufacturing toward a circular economy
6 Our approach to sustainability 26 Building automation and connectivity 46 Conserving natural resources
11 ESG ratings and recognitions 28 Powering tomorrow’s agriculture solutions
31 Financing sustainable farming solutions
33 Our dedication to product stewardship
34 Promoting animal welfare
Social Impact 48 Governance 62 Index 71

49 Our global workforce 63 Leading with accountability 72 Global Reporting Initiative (GRI) Index
55 Health, safety and wellbeing 66 Managing enterprise risks 87 Sustainability Accounting Standards Board (SASB) Index
59 Making a positive community impact 67 Sourcing responsibly 89 Task Force on Climate-related Financial Disclosures
69 Ensuring ethics and compliance (TCFD) Index
70 Prioritizing cybersecurity and data privacy

A letter from our CEO

Putting farmers first to sustainably feed the world
Agriculture is among the world’s oldest industries. Throughout the centuries, it has always
been about feeding communities and nurturing the land. Today, this remains the goal of
millions of hard-working farmers worldwide. They are uniquely positioned to address two
challenges: feeding our growing population and combating climate change. In fact, modern
farmers are tasked with feeding more than 8 billion people in more resource-efficient ways
and on limited land. It is a tremendous opportunity for AGCO and farmers alike.
“ In 2023, we accelerated our

Farmer-First strategy to provide
farmers with more precision ag and
When we put farmers first, everything else falls into place. Our Farmer-
First strategy is about understanding farmers’ pain points so we can
better serve them. When we see challenges from farmers’ points of
view, we can provide them with profitable and sustainable solutions.
Sustainability is inherent to our strategy; farmers want solutions that
clean technology solutions while deliver benefits over the long term, as many pass down their businesses
planning for their future needs.” from one generation to the next. Farmers’ success is vital to our success
— from one farm and family to the next.
In 2023, we accelerated our Farmer-First strategy to provide farmers with

more precision ag and clean technology solutions while planning for their
future needs. We continued to invest in research and development (R&D)
and engineering at a rapid pace, increasing this spending by 60% since
2020, with about 65% focused on smart machines and clean energy
since 2021. A key product launch was the award-winning Fendt e100
Vario, our first battery-powered electric tractor, which eliminates exhaust
emissions. Building on that momentum, we unveiled the Fendt e100 Vario
Range Extender concept, which uses fuel cells to double the tractor’s
operating hours.
As we bring new products to market, we are the AGCO Finance Climate Journey Fund to especially among our manufacturing sites in
also building a runway toward future innovation. €100 million to support farmers to transition to water-stressed regions.
And many are taking notice. The award-winning, climate-smart agricultural practices. When it
Transformative results require us to team up.
fuel-flexible CORE75 engine earned Engine of comes to sustainable solutions that put farmers
We have set bold goals for ourselves because we
the Year from the Diesel Progress Summit. It first, we’re doubling down on the good we can do.
know that when our people are aligned, there is
is one example of how we are helping farmers
In 2023, we announced a joint venture (JV) no challenge they cannot overcome. For example,
decarbonize their fields. We also are investing
with Trimble that, when it closes, will further we are pursuing an ambitious safety performance
in multiple pathways for clean energy products
strengthen our farmer focus and will transform target, and in 2023 our teams delivered the
— from electrifying lower-horsepower products
our precision ag journey. Upon closing, we will best safety result in AGCO’s history, with a
to developing hydrogen- and biomethane-
create an industry-leading, mixed-fleet platform double-digit improvement in our Total Case
compatible powertrains. All AGCO engines are
of smart, autonomous farming solutions. The JV Incident Rate (TCIR) for the third consecutive
designed to run on lower-emission, renewable
will accelerate our ability to deliver sustainability year. Safety is one of many contributors to
diesel fuel, and, over the next decade, we will
solutions, facilitate the path to global food our employees’ wellbeing, which is central to
continue to evolve AGCO Power CORE engines
security and support farmers with technology delivering a positive employee experience.
to offer new levels of efficiency and increased
solutions by helping them achieve higher We work hard to cultivate an environment of
compatibility with sustainable fuels.
yields while using inputs more efficiently. The inclusion where employees are inspired and
In addition to delivering clean, reliable power, JV’s offerings will include water management feel they belong. Our 2023 Voices survey
we remain a leader in precision ag solutions. solutions as well as the Connected Climate engaged approximately 23,000 employees,
We provide targeted solutions for each phase Exchange which supports the verification and with 88% sharing that they were proud to
of the crop cycle that enable farmers to reduce auditing of carbon credits. work for AGCO and its brands.
fertilizers, pesticides and other inputs while
Sustainability is woven into the fabric of I, too, am proud of our company and what we
promoting healthy fields and optimized yields.
“
our company. As we build value for customers accomplished in 2023. Our employees remained
Precision Planting is at the heart of these efforts,
We are investing in multiple with its comprehensive solutions that can be through efficient solutions that achieve more
with less, we embrace the same spirit across our
highly engaged and achieved record levels of
customer satisfaction. We also earned numerous
retrofitted on any brand of equipment. For
pathways for clean energy instance, the brand’s SymphonyNozzle solution global sites. After exceeding our initial emissions- awards around the world, including Sustainable
reduction target in 2022, we set a new target Tractor of the Year at AGRITECHNICA. These
products from electrifying helps farmers achieve constant pressure and
to reach the next milestone of our long-term efforts all contribute to how we are delivering
consistent droplet size while reducing overlap.
lower horsepower products Conceal and Clarity are both examples of new climate goals. We are focused on reducing farmer-focused solutions to sustainably feed our
our enterprise-wide absolute Scope 1 and 2 world. As always, we remain future focused. As I
to developing hydrogen- technologies recently introduced to optimize
emissions 55% by 2033 and by 90% by 2050. I’m look to 2024, I am enthusiastic about where our
fertilizer application. And Radicle Agronomics —
and biomethane-compatible the first major change to the soil testing process confident in our progress. Even while expanding sustainability journey will take us next.
our facilities and increasing production hours
powertrains.” in nearly a century — provides growers with
by 4% in 2023, we have achieved an impressive Sincerely,
tools to make soil nutrient management more
4% reduction in absolute Scope 1 and 2
effective, efficient and precise.
emissions from the previous year. Our global
It is not just forward-looking solutions but also manufacturing operations are now run on 72%
inclusive opportunities that help farmers create renewable electricity, and we have raised the
a more nourished, equitable world. With that in bar on water management with a new target to ERIC HANSOTIA
mind, we expanded our commitment through further reduce our water consumption by 10%, Chairman, President and CEO
About AGCO
AGCO is a global leader in the design, manufacture and distribution
of agricultural machinery and precision ag technology. We work
tirelessly to help farmers sustainably feed the world, with society’s
ever-changing demands for food and fuel in mind. As the agricultural
landscape changes, so do we.
Our purpose Our vision

is to deliver farmer-focused is to be a trusted partner
solutions to sustainably feed for industry-leading, smart
our world. We bring that farming solutions.
purpose to life across our
award-winning portfolio
of brands.
Our brands
31 140 5 3,100
Our collection of leading brands is a large part
of what makes AGCO so unique. They include:
Countries in our Countries where Leading global Dealers and

global footprint products are sold brands distributors
2023 sustainability highlights

We are doing our part to help farmers operate more sustainably and pushing
ourselves to do the same. Here is how we continue to make progress.
Investing in PRODUCT INNOVATION
6
Awards for sustainable,
100%
Existing AGCO
$549M
R&D and engineering
~65% 161
R&D spend Agronomic research
$750M 20-30%
High-margin revenue Reduction in inputs
~75,000
Connected machines
innovative products Power engines investment in 2023, a invested in smart studies carried out growth from precision needed to maximize
demonstrated at fully compatible ~60% increase over machines and worldwide in 2023 ag sales yields with AGCO
AGRITECHNICA, including with hydrotreated the past three years clean technology precision ag products
the Fendt e107 V Vario vegetable oil since 2021
winning Sustainable diesel fuel
Tractor of the Year
Promoting ENVIRONMENTAL SUSTAINABILITY
15%
Reduction in Scope 1 and 2 emission
11%
Reduction in energy
72%
Renewable electricity use1
39%
Renewable energy use1
18 of 32
Manufacturing sites using
>90%
New target to divert
10%
New target to reduce
intensity and 3% reduction in intensity since 20221 100% renewable electricity and maintain >90% absolute water withdrawals
absolute emissions from 20221 nonhazardous waste from by 10% by 20261
landfills by 20261
Delivering SOCIAL IMPACT
30% 30%
Board directors Board directors are
17%
U.S. employees are
84%
Participation in annual
15%
Reduction in TCIR, on track
63%
Manufacturing sites with International
2nd
Annual Fendt Sustainability Forum
are women ethnically diverse ethnically diverse engagement and listen to reach our 2025 target Organization for Standardization (ISO) 9001 hosted with the theme “Agriculture
survey, up 5% from 2022 Quality Management System certification in the face of weather stress”
1. Manufacturing sites
Our approach to sustainability

We are committed to integrating sustainability into our core Our approach consists of four pillars that reflect areas where we can make a significant
positive impact.
business strategy, in line with our purpose to deliver farmer-focused
solutions to sustainably feed our world. We firmly believe that the
We established partnerships with companies that help
future of agriculture relies on the availability of smart, accessible connect farmers to the carbon market. We also developed
Through targeted actions
innovative products to enable more precise, effective and
technology solutions. This belief drives our global sustainability efficient nutrient management. Radicle Agronomics is a
in energy efficiency and
smart investments into
initiatives, as we strive to offer industry-leading tools and products powerful set of soil sampling and analysis tools designed
renewable energy, we further
for use by agronomists across the globe.
that enhance productivity and sustainability for farmers worldwide. reduced emissions and
energy consumption despite
increased production hours
and record business growth.
Soil health
Decarbonization
Animal
welfare
“ ustainability is integrated throughout our core business

S
strategy. In all facets of our sustainability approach, we
aim to make a significant positive impact by ensuring
Our expert advisory panel
examined species-specific
needs related to animal
welfare and explored ways of
Health
and safety
farmers have the machines and technologies they need meeting those needs through
We delivered a 15% reduction in our incident
our product roadmap.
to sustainably feed our world.” rate. We expanded TCIR reporting to all major
sites and launched new digital capabilities to
— Roger Batkin, Senior Vice President, General Counsel, Chief ESG Officer and capture leading indicators.
Corporate Secretary, AGCO
“
Zeroing in on key topics Stakeholder engagement
We engaged an extensive group of internal and
he last five years in autonomous agriculture focused on the
T
Our success depends on understanding and external stakeholders to assess sustainability- development of enabling technologies. Now AGCO is using these
responding to the changing world in which we related impacts, risks and opportunities.
operate. In line with our periodic evaluation of Participating stakeholders included farmers,
technologies to solve farmers’ problems.”
sustainability priorities, we conducted a double investors, our senior leaders, employees in all
materiality assessment1 in 2023 to identify the —Darcy Cook, General Manager at JCA Technologies
geographies, suppliers, dealers and trade
environmental, social and governance (ESG) associations. In total, we conducted more than
issues that are perceived as being most important 150 interviews and surveys.
to our stakeholders. Our double materiality
assessment provided us with important insights Double materiality results
into the potential positive and negative impacts We evaluated stakeholder input based on a
of our operations, products and wider value topic’s potential impact on AGCO’s operations
chain on society and the environment, as well as and value chain, and the related financial risks
the financial risks and opportunities that could and opportunities, to establish whether each
affect our business and farmers in the future. topic met materiality thresholds. The results will
We are using these insights to refresh our be used to determine future reporting disclosures
sustainability strategy and reporting in 2024. and for strategic business planning.
Benchmarking and topic identification
Our double materiality process included mapping
the sustainability landscape in our industry.
This included a review of relevant sustainability
frameworks and ratings, benchmarking AGCO
against peers, and compiling a list of sustainability
matters and definitions across ESG topics
specific to our business. Engaging our global stakeholders
To be truly Farmer First, it is essential we

understand their activities, preferences
and essential needs. Learn more about
how we engage with farmers and
other stakeholders in the Engaging our
stakeholders section in the report Index.
1. Materiality for the purpose of the topics mentioned in this report
and for determining our sustainability strategies, is different from
the definition of materiality used in the context of our filings with
the Securities and Exchange Commission (SEC). Items deemed
material for the Sustainability Report may not be considered
material for SEC reporting purposes.
Demonstrating progress on our commitments

We have identified various commitments and targets to keep us focused and measure our progress over time.
COMMITMENTS ACTION 2023 PROGRESS
DECARBONIZING OUR OPERATIONS AND VALUE CHAIN

• 15% reduction in Scope 1 and 2 GHG emissions intensity
Reduce our energy and emissions across
• 3% reduction in absolute Scope 1 and 2 emissions
manufacturing footprint
• 11% reduction in energy intensity
Decrease Scope 1 and 2 absolute emissions 55% by 2033- and
• New target set in 2023
90% by 2050
• 39% renewable energy
Reach 60% renewable energy by 2026 • 72% renewable electricity
• 18 manufacturing sites running on 100% renewable electricity
• Launched Fendt e100 Vario in select markets in 2023 with commercial launch planned in 2024
• Developed Fendt e100 range extended concept in partnership with Blue World Technologies
Invest in technologies to reduce carbon emissions of • Won 2023 DLG Agrifuture award at AGRITECHNICA for an electrically driven weeding module and electric
products in use tractor combination
• Launched AGCO Power CORE50 engine
• Developed AGCO Power CORE50 eHydrogen prototype
Increase remanufacturing revenue to 150% of 2020 baseline • 31% cumulative increase in remanufacturing revenue from baseline
by 2025 • 131% of baseline revenue in 2023
REDUCING THE ENVIRONMENTAL IMPACT OF OPERATIONS

Divert and maintain >90% nonhazardous waste from landfill
• New target set in 2023
by 2026
Reduce absolute water withdrawals by 10% by 2026 • New target set in 2023
ON TRACK NEW
SOIL HEALTH AND CARBON SEQUESTRATION

• Integrated sustainability into brand engagement customer surveys
Integrate sustainability into customer
• Hosted quarterly farmer panel with AGCO leadership
engagement activities
• Held annual Fendt sustainability forum
• Conducted 15 sustainability research trials in North America, Europe, South America and Africa focused on cover crops,
Integrate soil health best practice into Future Farms trials and tillage systems, alternative crops, herbicide and fertilizer reduction, alternative weed control and fuel reductions
global crop tours • Published Agronomy Research Book for dissemination at farm shows and other events
• Conducted Agronomy Research Symposium to educate employees
• Ran 50,000 soil samples in the first year since launching Radicle Agronomics and introduced increased reporting
parameters like cation exchange capacity, a useful indicator of soil fertility
• Radicle Agronomics broadened the number of acres impacted, and the number of samples analyzed by its automated soil
testing system increased by 112%
• Radicle Agronomics launched multistate, multiyear crop soil fertility crop response plots to lay the groundwork for more
Support soil health improvements and carbon sequestration
optimized, balanced nutrition that will benefit not only the crops grown, but also the health of the air, soil and water
• Established various carbon program partnerships to automate flow of farm data from AGCO machines
• Incorporated 87 global eco-labels focused on soil health and biodiversity protection into the scope of the AGCO Finance
Climate Journey Fund
• Enabled improved soil-health practices across >17,000 acres through the AGCO Finance Climate Journey Fund
Achieve a 100% connected fleet by 2025 • 85% of global fleet connected*
PROMOTING ANIMAL WELFARE

• Leveraged our Cumberland, AP and Tecno brands to provide integrated systems to help poultry, swine and
Deliver animal welfare innovations across AGCO’s protein brand egg producers safeguard animal welfare, health and productivity
portfolio by 2025 • Continued to align our product roadmap with recommendations from our independent Expert Advisory
Animal Welfare Panel
ON TRACK NEW
* Based on machines retailed and activated in 2023
ELEVATING EMPLOYEE HEALTH AND SAFETY

• 15% reduction of TCIR to 1.86 in 2023
• Partnered with DuPont Safety Solutions to introduce behavior-based safety
Achieve a TCIR <1.5 by 2025
• Introduced VelocityEHS® ergonomics program
• Introduced various improvement initiatives to reduce high-frequency injuries
OUR GLOBAL WORKFORCE

• Over 23,000 employees shared their voice in 2023
Reach 75% employee engagement index by 2025 • 71% employee engagement index, a 2% increase from 2022
• 88% of employees “proud” to work for AGCO
Reach 25% women in leadership by 2030 • 19% women in leadership in 2023
ON TRACK NEW
ESG ratings and recognition

In 2023, we received many prominent awards and recognition, as well as strong
ESG ratings for our company, brands and products. These included:
ESG ratings
MSCI ESG Rating S&P Global Corporate Sustainability ISS QualityScore
Scale: AAA to CCC Assessment1 Scale: 1-10, with 1 being the best possible score
AA 33/100
“
Environment
2023: 2023:
2023: I n our relentless pursuit of sustainability
2022: A 2022: 24/100 2022: excellence, our consistent year-over-year
2021: BBB Sustainalytics ESG Risk Rating
2021:
Social
improvement in ESG ratings underscores
our commitment to transparency and
Scale: 0-100, with 100 being the most severe risk 2023:
to embedding sustainability as a core
17.6
CDP Climate
Change Score 2022:
2023: component of our business strategy.”
B 18.0
2021:
2023: 2022: — Louisa Parker-Smith, Director Global Corporate Sustainability
Governance
2022: C 2021: 20.8 2023:
and AGCO Agriculture Foundation, AGCO
2022:
2021:
1. Scores without modeled score adjustment

ESG ratings and recognition (continued)
Corporate recognition
USA Today — America’s Newsweek — America’s Newsweek — Most Responsible Newsweek — Most Trustworthy Humankind Investments
Climate Leaders Greenest Companies Companies Companies in America
#3
in Capital Goods Industry sector
4/5 stars #19
in Capital Goods Industry sector
#24
in Machines & Industrial Equipment sector
#38
on Humankind 100 listing
UN Global Compact Award

The UN Global Compact Network Ukraine awarded MHP-Gromadi Charitable Foundation and the AGCO Agriculture Foundation Partnership of Sustainability Award 2023 in the category “People” for the outstanding work
supplying humanitarian aid kits and early childhood nutrition to internally displaced people in Ukraine.
Read more about the UN Global Compact Network Ukraine Sustainability Award 2023 here.
Brand awards
2023 DLG AgriFuture Concept Award AGRITECHNICA’s Silver Innovation Award 2023 Davidson Prize for agricultural 2023 Diesel Progress Summit Engine
“zero emissions, zero chemicals” concept Radicle Agronomics engineering excellence of the Year Award
Radicle Agronomics AGCO Power Core75 Diesel Engine
Sustainable Tractor of the Year AGRITECHNICA’s Silver Innovation Award CropLife IRON Showstopper Award
Fendt e107 V Vario Fendt Slicer 960 ONE SMART SPRAY
Purpose-Driven Innovation
When farmers prosper, they seed benefits for all. They cultivate a sustainable source of
food — ensuring food security and addressing nutritional needs. They also create jobs
in rural communities, generate significant economic value and play an important role in
environmental stewardship. With this in mind, we are expanding our portfolio with products
that put farmers first: solutions that empower farmers to continue their legacy of nurturing
the land while sustainably feeding the world.
IN THIS SECTION:
14 S
olutions to help farmers sustainably feed the world 28 Powering tomorrow’s agriculture solutions
16 Delivering a wider spectrum of power 31 Financing sustainable farming solutions
21 Enhancing precision at every step 33 Our dedication to product stewardship
26 Building automation and connectivity 34 Promoting animal welfare
“ t the heart of our purpose is to sustainably feed the world. We firmly believe
A
we have a responsibility to provide farmers the innovative solutions they
need to do just that. We continue to outpace the industry with innovation
by providing a spectrum of tools to meet farmers’ challenges, ranging from
digital precision ag solutions to our expanding spectrum of power offerings.”
—Seth Crawford, Senior Vice President and General Manager, Precision Ag and Digital, AGCO
Solutions to help farmers Our approach to innovation
sustainably feed the world

Innovation is what powers us forward at AGCO, and our approach is simple:
Provide exceptional Empower farmers to Deliver high-quality, smart

In 2022, the world population reached 8 billion and is poised to climb customer experiences interact with our brands solutions that produce
to nearly 10 billion within the next 30 years.1 These changes will require that align with our
brand promises
at every stage of the
customer journey, including
sustainable agronomic and
economic value to farmers
important advancements in technology, infrastructure and science, yet online, via a trusted dealer
or both
they are also cause for concern. The World Food Programme estimates
that more than 780 million people are struggling with hunger, equivalent
Providing exceptional customer experiences
to about one in 10 people worldwide.2 Seeking and responding to farmers’ feedback is the foundation of creating exceptional experiences that meet and
Feeding a growing population will require an uptick in food production, which exceed our customers’ expectations. One tool we have implemented across our global brands is a Net Promoter
could, in turn, cause further climate challenges. If emissions from agricultural Score (NPS), which measures whether a customer would recommend AGCO’s brands, machines and dealers to
land use continue their current trajectory, the World Resource Institute estimates others. Our NPS approach also includes questions to help us understand the factors that impact interactions along
that they will reach 15 gigatons (Gt) of carbon dioxide equivalent by 2050. In the farmer’s journey from their purchase experience to performance out in the field. We are actively leveraging this
contrast, society must limit agricultural emissions to about 4 Gt by 2050 to keep farmer feedback to drive improvements across our business and continue to see year-over-year improvements.
global warming below 2°C above preindustrial temperatures.3 Empowering farmers to interact with our brands at every stage
Farmers are on the front lines of these challenges, and with the right solutions Our dealers are essential in delivering the customer experiences our farmers expect. Recognizing that farmers want
they can play a critical role in sustainably feeding the world. We are here to to perform an increasing number of activities online, we continue to deploy digital tools across parts, service and
serve them as a trusted partner — one that can help solve current pain points financing while digitizing the customer experience. Together, these activities are changing the game — enabling us
while proactively addressing future agricultural needs. Every farmer’s situation to serve farmers wherever and however they prefer.
is different, so we are developing a range of smart and easily adaptable
technologies. Our focus is on providing comprehensive solutions that empower Delivering high-quality, smart solutions
farmers to reduce resource usage and emissions, protect essential farm We are here to help farmers grow their businesses and solve complex challenges, and in both regards technological
ecosystems and take productivity to new heights. innovation and adoption are key. We continue to innovate and expand our business in areas that deliver significant
value to farmers, whether by boosting precision, supercharging efficiency or optimizing equipment and fleets.
Our growing product portfolio is at the heart of

our vision: Trusted partner for industry-leading,
smart farming solutions
1. United Nations, “Population.” https://www.un.org/en/global-issues/population
2. UN World Food Program USA, “10 Quick Facts on Global Hunger and the United Nations World Food’s Life-Changing Work.”
3. World Resources Institute
Innovations that put farmers first Automation and connectivity

We are providing farmers with tools to maximize
productivity by implementing advanced
A wider spectrum of power technologies backed by data from thousands of
Solutions for every horsepower enable farmers to decarbonize and connected machines. Using onboard calculations,
upgrade their equipment and fleets. We are also future-proofing our these tools enable a machine to sense and adapt
machines by making them adaptable to a variety of alternative fuels. to changing conditions in real time. They also
empower farmers to proactively manage their
operations, thereby reducing inefficiencies and
effectively forecasting future needs.
Enhanced precision at every step

Combining both hardware and software, precision solutions help farmers
ensure they are protecting the soil and deploying the optimal amount of
inputs in exactly the right place and at the right time. This sets the stage
for nutrient-rich soils that can sequester and store carbon, reduce costs
and inputs, and deliver robust yields year after year.
Delivering a wider spectrum of power

Our path toward decarbonization begins in our manufacturing plants and extends to farmers’ fields. We Our development of low-carbon products
is essential to addressing our Scope 3
pioneer integrating emissions-reduction technologies into our products. For example, in 2009 we were emissions. In 2023, we completed a
the first manufacturer to align with U.S. EPA Tier 3 standards by adopting Selective Catalytic Reduction Scope 3 inventory to inform our climate
strategy and future product roadmap.
technology in agricultural equipment. Learn more about how we are addressing
our operational, supply chain and product-
Today, our innovative spirit continues. We are AGCO POWER TECHNOLOGY ROAD MAP related emissions.
developing next-generation clean technologies that
deliver the power and flexibility farmers rely on — all
while enhancing efficiency and reducing emissions
from product use. Our approach is multifaceted,
including high-, mid- and low-horsepower solutions,
from highly efficient and fuel-flexible engines to hybrid
and fully electric machines.
DIESEL
Not only have we established a clear direction, but
we are also putting it into action and gaining industry
acknowledgment along the way. At AGRITECHNICA RENEWABLE FUELS
2023, we were proud to unveil Fendt’s first electric HVO / Ethanol / Biogas / Methanol / Hydrogen
tractor and see the Fendt e107 V Vario named
Sustainable Tractor of the Year 2024. We also
launched the latest addition to the AGCO Power HYBRID
CORE engine family, the AGCO Power CORE50, and
the Diesel Progress Summit named the fuel-flexible
Power CORE75 as Engine of the Year. ELECTRIC
As we bring new products to market, we are also building

FUEL CELL
a runway toward future innovation. Decarbonization is a
Methanol / Hydrogen
journey, and with every new solution we are generating
momentum toward a more sustainable future.
EXTERNAL ENERGY MARKET ROADMAP
Low fuel consumption development Robust electric components available Sufﬁcient electric infrastructure eFuels widely available
TOWARD A LOW CARBON FUTURE

Our path to clean energy products

Invest in multiple pathways Enable use of sustainable fuels Focus on solutions that enhance sustainability while reducing
We serve farmers with a choice of clean energy solutions, from electrifying The evolution of sustainable fuels and product innovation go hand in farmers’ costs
lower-horsepower products to developing hydrogen- and biomethane- hand. To accelerate our decarbonization journey, we are equipping Innovations that support sustainability can also help farmers reduce
compatible powertrains. internal combustion engines with new technology and future-proofing inefficiencies, downtime and resource use, thereby minimizing overall costs.
them by making them adaptable to electrofuels (e-fuels) from green
OUR PLAN IN ACTION OUR PLAN IN ACTION
hydrogen, as well as biomass and waste-based sustainable fuels.
Reducing agricultural equipment carbon emissions will not happen in one In addition to offering reduced-emissions products, we are developing
giant leap but in several steps. We have committed to delivering three OUR PLAN IN ACTION solutions for precision farming and a more circular agricultural economy.
new powertrains over the next decade as part of our clean energy Scope 3 Over the next decade, we will continue to evolve AGCO Power CORE
emissions-reduction strategy, including electric, hybrid and biogas options engines to offer new levels of efficiency and increased compatibility with
offered across our Fendt, Massey Ferguson and Valtra brands. sustainable fuels.
“
Addressing our Scope 3 emissions provides an exciting catalyst
for reinvigorating the innovations that propel our farmers
forward. We are proud to provide farmers a choice in machinery
that allows them to navigate their own decarbonization journey
without sacrificing productivity.”
—Vinicius Alvim, Vice President, Global Product Management, AGCO
Our latest clean-tech innovations

Throughout 2023, we continued to push our vision forward, both by launching outstanding
new products and by demonstrating forward-looking innovations that will shape the agricultural
landscape of the future.
Upon making its debut at
Fendt e100 Vario Range Extender: 2X operating hours per charge AGRITECHNICA, the Fendt e107 V Vario
was named Sustainable Tractor of the
The Fendt e100 Vario Range Extender concept builds on the benefits of the electric Fendt e100
tractor. AGCO Power teamed up with Blue World Technologies to develop the fuel-cell-based Year 2024. Fendt has been honored in
concept, which doubles the Fendt e100 V Vario’s operating time from four to up to eight hours. the Tractor of the Year category seven
The concept runs on liquid methanol, which is converted into a hydrogen-rich gas that powers times since the award’s inception, more
fuel cells, generating electricity that charges the tractor batteries while in operation. Prototypes than any other brand awarded to date.
and lab field tests have demonstrated the concept’s early success. The project also highlights Visit Fendt’s website to learn more about
the importance of industry partnerships to help us power sustainable innovations. its showing at AGRITECHNICA 2023.
Further, Fendt's E-Vario weeder can be combined with an electrically powered tractor, incorporating
electrically driven weeding modules that optimize power consumption. The modular set-up enables
easy adaption to multiple farming conditions and crops. Artificial intelligence (AI)-based plant
and weed detection and two cameras for monitoring the process establish the foundation for full
autonomy. This concept for a “zero emissions, zero chemicals” electric tractor and weeder won the
2023 DLG AgriFuture Concept Award at AGRITECHNICA.
Fendt e100 series: A fully electric future starts now
AGRITECHNICA 2023 represented Fendt’s largest industry trade show appearance
to date. One of the highlights was the launch of the much-anticipated Fendt e107 V
Vario, AGCO’s first battery-powered tractor. The tractor is currently available to order
in Germany, the Netherlands and Norway and will go into full production in 2024.
The Fendt e107 V Vario is powerful, compatible with all common attachments and
emissions-free, offering a practical, sustainable solution for today and long into
the future. It comes equipped with FendtONE system architecture, which enables
owners to ensure the tractor’s systems, sensors and software are always up to date.
The Fendt e107 V Vario provides exhaust-free operation and is light and compact
— ideal for use in greenhouses and other enclosed spaces. Similarly, the Fendt e107
V Vario’s compact dimensions are perfect for use in orchards and vineyards, or for
municipal activities such as maintaining cycling paths. Many farms and municipalities
generate renewable energy via solar panels, wind power or biogas. These inputs can be
used to charge the Fendt e100 series, creating a closed energy cycle from generation
to use. In addition to reducing emissions, our Fendt e100 series can decrease
ownership costs, as some services such as engine oil changes are no longer needed.
CORE50 eHydrogen: The benefits of hydrogen and electricity combined

When it comes to flexibility, the AGCO Power CORE engine platform is unmatched. Our new
eHydrogen mild hybrid concept combines the best of hydrogen and electricity, making it a win on
both the sustainability and power fronts. To create the concept, we converted the 5-liter CORE50
into a hydrogen engine prototype that runs CO2-free. We then fitted it with battery-electric
drivetrain components to deliver added power and torque.
AGCO Power Microgrid: Providing intelligent power storage and control

Our AGCO Power Microgrid concept addresses three common pain points: electric power
management, availability and cost. The concept functions as a personal smart grid, which
provides reliable, uninterrupted power from the most cost-effective source at a given time. It
is an intelligent solution to manage and store power from wind and solar plants, backup
generators, battery packs or the grid — power that can be used to support farming operations
or entire communities.
“ griculture is currently going through a transformation and is

A
looking for new propulsion solutions that can be aligned with
climate protection. Green methanol is one suitable candidate,
and, due to its liquid nature, it is possible to store it in a tank
much like diesel fuel.”
—Kari Aaltonen, Director of Engineering at AGCO Power
“ he outstanding results of the independent DLG PowerMix test show that our
T
engineering team has developed a highly efficient and all-around exceptional
machine with the Fendt 728 Vario. The combination of power and low fuel
Testing Synthetic Fuels
For diesel-powered vehicles, a breakthrough alternative may be
on the way via a project to develop e-fuel from green hydrogen
and carbon dioxide. The project coordinator, VTT Technical
consumption makes it possible for farmers to work economically and to also Research Center of Finland, has successfully produced electric
protect the environment.” diesel on a pre-commercial scale. Ultimately, the project is
targeting the development of e-fuel production that can be
—Roland Schmidt, Vice President of Marketing at Fendt scaled to the industrial level.
AGCO Power is partnering with VTT and playing a critical

role in advancing the project to its next phase. In November
2023 — at AGCO Power’s Linnavuori plant in Finland — the
efficient engine on the market — is compatible that enable additional fuel savings by reducing new e-fuel underwent practical testing in a diesel-powered
Maximizing fuel efficiency with hydrotreated vegetable oil, biodiesel and the tractor’s weight. To further advance our tractor for the first time. The e-fuel can be used to replace
Products that are fuel efficient deliver dual other alternative fuels. In 2023, we launched development of fuel-efficient tractors and other fossil diesel fuel and is compatible with hard-to-electrify
benefits to farmers, enabling them to reduce the AGCO Power CORE50 engine. The CORE50 equipment, we made additional investments machines, such as heavy road vehicles, maritime transport
fleet emissions and operating costs alike. engine is equipped with an advanced emissions into our production of continuously variable and agricultural equipment. This makes it a promising tool
AGCO tractors continue to lead in this control system, offers excellent fuel economy transmissions in 2023. for reducing greenhouse gas (GHG) emissions, both in the
regard, with efficiencies built into nearly every and can be converted for use with hydrogen and agricultural and transportation sectors and beyond.
component and results backed by independent other alternative fuels. All AGCO engines are
tests. In 2023, the new Fendt 728 Vario designed to run on lower-emissions, renewable
underwent the PowerMix test of DLG, the diesel fuel. To accelerate further innovations, we
German Agricultural Society. The machine are building a clean energy laboratory, planned
demonstrated a 5% improvement in fuel to open in Linnavuori, Finland in 2024.
efficiency over the nearest competitor, making
Transmissions designed to stop energy
it the most economical and fuel efficient tractor
loss in its tracks All of our equipment meets
in its class. In fact, of all the tractors ever
Europe’s toughest emissions and
tested by DLG PowerMix, Fendt tractors hold Transmissions are another key aspect of energy
efficiency; energy loss can occur when power safety standards and exceeds
five of the top six places.
transfers from a machine’s engine to its tracks, standards established in other
Enhancing efficiency with our most tires or attachments. Our continuously variable global regions. Learn more about
advanced engine family yet transmissions are known for their ability to our commitment to product
We specifically designed our AGCO Power minimize energy loss and deliver up to a 10% quality and safety.
CORE engine platform with emerging reduction in fuel consumption. Along with various
technologies, fuels and regulations in mind. other components, our transmissions also
The AGCO Power CORE75 engine — our most incorporate lightweight, high-strength materials
Enhancing precision at every step

Much of a farmer’s work has to do with proactive crop cycle Investing in innovation
management: The art and science of providing the right inputs in the through AGCO Ventures
right place at the right time. Productive farming requires nutrient- Through AGCO Ventures, we are sourcing
and funding new technologies to drive
rich soil, seeds, water, fertilizer, energy, weed control and more, all of innovation and support farmers worldwide.
which enable farmers to grow and nurture healthy crops. To minimize Launched in 2023, this initiative actively
connects our business needs with industry
negative environmental impacts and operating costs, we must help and market perspectives to identify
farmers manage these resources carefully. Our approach: Technologies investment opportunities in startup
companies, corporate venture funds,
and digital solutions that dramatically increase precision, empowering incubators, accelerators, higher education
farmers to use less, spend less and still achieve better results. and research institutions. AGCO Ventures
supports the accelerated development
Offering precision ag solutions that optimize yields, promote healthy fields and preserve farmer profitability is one of of critical capabilities and competencies
AGCO’s strengths and an area that we continue to prioritize for investment. Our Precision Planting brand leads these across three strategic areas:
efforts, which we have bolstered through our acquisitions of Appareo, Headsight and JCA Technologies in recent years. In
• Information management and analytics
2023, we announced a planned joint venture with Trimble, which is expected to close in the first half of 2024 conditional
on regulatory approvals. Upon close, this transformational deal will create an industry-leading global mixed-fleet precision • Agriculture technology
ag platform. We also signed an agreement to acquire the NEXT Farming software unit from FarmFacts GmbH, a leader • Environmental and alternative
in farm management information software (FMIS). This will enable us to increase our FMIS offerings and software fuel sources
development capabilities to better serve farmers’ data management needs. We see these investments as a triple win
for the farmers we serve, helping them achieve healthy fields, better yields and increased profitability.
In research trials conducted at AGCO’s

agronomy smart farms — and in field-based
studies with farmers — our precision products
have demonstrated a 20%-30% reduction in
the inputs needed to maximize yields.
Achieving scale through retrofit

From soil sampling and planting to fertilization and weed control, our precision products have solutions for every DRIVING HIGH-MARGIN REVENUE GROWTH RETROFIT OPPORTUNITIES
season. These products enable farmers to more consistently produce healthy yields. Precision products also are good THROUGH PRECISION AG SALES
for the environment, leading to improved soil health, which enhances carbon sequestration. Additionally, they support Pro Forma
energy savings and smarter resource usage, which can help farmers minimize both costs and GHG emissions. 2028E
GOAL Planters and
To make precision solutions more broadly accessible, we offer them as retrofit technologies as well as2000factory-installed.
sprayers being
Since fewer than 10% of planters and sprayers are replaced by farmers each year, we have adopted a retrofit-first Pro Forma $2B replaced annually
approach, based on both market opportunities and farmers’ needs. This approach enables farmers to gain the benefits 2023
1500
of precision farming without replacing still-functioning equipment or waiting for a machine’s end of life. $1.3B* 7%
Many of these tools are available at a fraction of the price of equivalent new products. They are also adaptable to
1000
equipment from a range of manufacturers, giving farmers the flexibility to leverage mixed fleets and make the most of 2022
2021 $700M
what they already own. By extending product life cycles, retrofit products reduce the associated emissions, energy and 2020 Incremental
$541M
other resources required to manufacture new products. For these reasons, we see retrofit and precision500 technologies $400M retrofit
as a key lever for decarbonization and future growth. opportunity
93%
0
AGCO Trimble Precision Ag Estimate based on the North American market
*Revenue estimate includes pro forma impact of AGCO/ Trimble

Ag Joint Venture historical businesses and does not reflect any
transaction accounting adjustments
Delivering the next generation of mixed-fleet solutions with Trimble

In 2023, we announced a new joint venture (JV) with Trimble that, when it The JV, will enhance and accelerate our company’s growth ambition around
closes, is expected to create an industry-leading, global mixed-fleet precision autonomy, precision spraying, connected farms, data management and Trimble guidance displays and steering
ag platform — the largest ag-tech deal ever. The close of the transaction sustainability. The transformative nature of this deal will result in AGCO
is subject to obtaining regulatory approvals. The newly created JV, which offering a comprehensive suite of disruptive technologies across the crop solutions help farmers accurately monitor
will include Trimble’s agriculture business and our JCA Technologies business cycle to address farmers’ needs of tomorrow.
will be the exclusive provider of Trimble’s industry-leading technology that
and map field information in real time
Critically, the technology offered through the JV will help farmers transition
will support the future development and distribution of next-generation
to more sustainable farming practices. The agriculture industry uses
agricultural products, and, subject to regulatory consents, and AGCO will
approximately two-thirds of the world’s fresh water,1 and Trimble’s water
own 85% of the joint venture.
management solution enables farmers to consume less. Meanwhile,
These user-friendly technologies are compatible across farm types, as fertilizers and chemicals face increased regulation, the JV will build
equipment models and brands. They encompass hardware, software and on AGCO’s precision spraying technology to help farmers meet these
cloud-based applications that enhance farm management from land challenges with a depth of smart nozzle expertise.
preparation to planting and seeding to harvest. Trimble’s guidance controllers,
radios and receivers help farmers calculate the actual position of their
equipment for improved accuracy, even in difficult conditions. Complementing
this, Trimble’s wide selection of assisted and automated steering systems
ensures farmers can steer their vehicle in line with maximum precision.
“ This landmark transaction creates a JV that, upon close, is expected to become

a leader in mixed-fleet precision ag in the world and accelerate AGCO’s
strategic transformation. The deal significantly enhances AGCO’s technology
stack with disruptive technologies that cover every aspect of the crop cycle,
which ultimately helps us better serve farmers, no matter what brand they use.”
—Eric Hansotia, Chairman, President and CEO
1. World Wildlife Foundation, “Water Scarcity.”

Targeted solutions for each phase of the crop cycle

Our precision technologies reflect our Farmer-First mindset, helping farmers use fewer resource inputs and machine
passes to produce more food. Here is how these technologies transform crop cycle management:
PREPARING FOR SUCCESS planning, equipping them with the best PLANTING THE SEED
Soil sampling is the first step to ensure healthy information possible as they plant and tend Seeds represent the potential for future value
harvests — the more frequent and granular, the to their crops. Soil testing is one of the most and nutrition, and they must be planted with
better. Radicle Agronomics, our game-changing important agronomic processes on a farm, and care. Our products such as SmartFirmer,
innovation for agronomists, provides professional this is the first major change to the soil testing Momentum Planter, Reveal row clearer and
growers with tools to make soil nutrient process in nearly 100 years. FurrowForce closing systems enhance planting
management more effective, efficient and precision while minimizing soil disturbance.
In 2023, Precision Planting earned
precise. Radicle’s technology revolves around
AGRITECHNICA’s Silver Innovation Award for
its pioneering Radicle Lab, the world’s first
Radicle Agronomics. It also earned the prestigious
fully automated soil laboratory.
Davidson Prize for extraordinary innovation and
PROMOTING HEALTHY GROWTH
Now, agronomists can accurately test hundreds impact in agricultural systems. The Davidson Prize
of unattended samples, replacing manual, is awarded by the American Society of Agricultural Fertilizer use and practices are among the
error-prone processes with the small footprint, and Biological Engineers and the Association of biggest opportunities for sustainable practices
simplified workflows and self-calibration Equipment Manufacturers. globally. When used effectively, a minimal
amount of fertilizer can facilitate healthy growth ENSURING PROACTIVE MAINTENANCE
technology of the integrated lab. For farmers,
this will help take the guesswork out of resource and reduce the number of passes a machine Weeds are the enemy of healthy crops, so
must make. This is beneficial for soil and we provide tools to mitigate weeds through
environmental health. Our Conceal precision intelligent, precise spraying. Our recently
fertilizing technology places nitrogen directly launched Symphony line includes Nozzle
into the root zone, rather than broadcasting it Control and Targeted Spray products that
over the ground. We also launched our Clarity™ allow farmers to optimize chemical usage
AGCO’s GeoPress™ collection module
granular monitoring system in 2023 to monitor by effectively controlling spray pressure and
mounts on any field-ready vehicle and fertilizer application when planting small grains. hitting their marks.
eliminates record-keeping and bag
handling by automatically blending and
storing soil samples in geo-referenced,
reusable containers. Together, GeoPress
and Radicle Lab create a seamless field-
to-lab process, permitting agronomists
to deliver superior nutrient management
guidance to their clients.
Maintaining productive soil

Soil health is the cornerstone of profitable, sustainable farming. Soils
rich in organic matter and nutrients with good physical structure lead
to bountiful harvests, enabling farmers to boost their bottom lines and
help feed the world. Crop rotation, cover cropping and reduced tillage
practices all enhance soil health by promoting biodiversity, preventing
erosion and improving soil structure. Moreover, soil is an effective climate
solution based on its ability to sequester carbon as organic matter
accumulates. Our reduced and no-till planting solutions help farmers
improve soil health while promoting carbon sequestration and crop yield.
This creates a strong foundation for sustainable agricultural growth.
Compaction management
Some farming practices pose challenges to soil fertility and health, but our In 2023, our Global Agronomy and Farm Solutions team undertook field
precision solutions can help. For example, a key challenge is compaction, studies to test the effects of working with different tire pressures on field
which occurs as equipment crosses a field, causing the soil to become
compressed. Compaction can lead to decreased nutrient uptake, crop
efficiency, soil compaction and fuel efficiency. The study found that using Helping farmers monetize carbon capture
the Valtra central tire inflation system (CTIS) reduced wheel slippage to
emergence and growth. Over time, these issues can take a toll on farm increase efficiency by 1.8%. The CTIS also reduced soil compaction depth Practices that promote carbon capture in agricultural soils can also
profitability and yields. Compaction can also hinder soil drainage, which can by 17%. These results demonstrate how using smart technology, such as a benefit soil health — a win for both farmers and the environment.
lead to both flooding and drought. Our precision-focused solutions include: CTIS system, can help farmers enhance efficiency while reducing yield loss. Our tools help farmers implement climate-positive and regenerative
practices, such as no-till farming, soil compaction management and
• Smarter routes: Guidance technology on our sprayers, tractors and Reduced- and no-till farming the use of cover crops.
combines enables farmers to optimize their paths. Our machines leverage
By breaking up the soil, tillage can worsen erosion and remove the
intelligent guidance sensors to minimize turns and shorten routes. Increasingly, farmers can monetize these practices by participating
protective residue from previous crops. Tilling can also release carbon
• Precise input placement: Our tools also optimize the placement of dioxide and disrupt the organic matter and microorganisms needed for in carbon credit registries. To support this, we collaborate with these
seeds, fertilizer and other inputs, further reducing the number of passes biodiversity and soil health. Accordingly, many farmers are embracing programs to automate data collection from our machines. This saves
each machine must make. precision solutions for reduced- and no-till farming. farmers time and helps them prevent data errors, ensuring they receive
• Lightened loads: Fendt’s soil and grip technologies, such as VarioGrip, credit for their sustainability efforts.
can automatically lower tire pressure, allowing for a wider distribution These tools can help farmers protect the soil and climate while leading to
of weight. Similarly, Momentum Planter’s Load Logic system lifts and more resilient plants. Without disrupting surrounding areas, our DeltaForce
adjusts the planter frame to minimize row-unit downforce, helping to and Row Cleaners can efficiently slice through residue and untilled soil to
reduce compaction, enhance plant health and nutrient uptake and place seeds and other inputs at an ideal depth. We also support research,
increase yields. education and outreach on reduced- and no-till techniques and have
measured their benefits in trials at our agronomy smart farms. Our global
agronomy team conducts research trials on a variety of soil health best
practices, including cover cropping, alternative weed control and variable-
rate nitrogen strategies.
Building automation Leveraging connected data
and connectivity
Every farm environment encompasses a myriad of data points, from
the soil’s moisture levels to the weather conditions to a tractor’s speed.
Together, this data can paint a rich picture of operational strengths and
pain points, as well as establishing a baseline for factors such as machine
We believe in data-driven decision making, uptime, performance and health.
both to help us deliver the best products and Eighty five percent of our production agriculture fleet retailed in 2023
to empower farmers to make the most of included connected machines. This enables us to leverage global databases
to gather insights that help enhance the customer experience and develop
their time in the field. As a leader in providing even smarter, more sustainable tools and machines. We continue to expand How Valtra is giving farmers new tools to
smart farming solutions, we focus on three our connected ecosystem while investing in software and other solutions
reduce their GHG footprints
that can translate to value for our company and farmers in the field.
overlapping areas of digital innovation: Valtra is known for providing easy-to-
We partner with cloud service provider Agrirouter to integrate data from
330+
use, smart farming technology. Their
different equipment and software manufacturers on AGCO machines.
latest innovation continues this 330+
Through this, we can share data among farms, information services, food
tradition with an entertaining twist.
Enhancing
the customer
companies and leading farm-management systems.
The new Valtra Coach app monitors
drivers’ habits, provides real-time
Liters
experience Estimated fuel savings per
~75,000
feedback and benchmarks their
85% performance while rewarding them for

adopting more fuel-efficient behaviors.
year for drivers who reduce
idle time by 12% when
Connected AGCO machines of the AGCO production The app uses data generated by smart operating their tractors for
in the field as of 2023 agriculture fleet retailed in tractors to help drivers reduce their ~5 hours per day.
2023 is connected idle time, improve fuel efficiency and
DIGITAL curb GHG emissions. By gamifying the
INNOVATION monitoring and feedback process, Valtra is making fuel-efficient driving
more engaging. The company unveiled a demo version of the app at
Leveraging Developing AGRITECHA 2023 and plans to release the app to the public in 2024.
connected smarter Collaborating toward a sustainable food production chain
Valtra is also partnering with Neste and AGCO Finance to help
data machines In June, Valtra served as a co-organizer of AgriVenture Finland 2023,
farmers reduce their carbon footprint by increasing the awareness and
which brought together approximately 250 agricultural and business availability of Neste MY Renewable Diesel. Valtra is the first tractor
experts from Finland and beyond. The two-day event included tractor test factory in the world to fill its new tractors with Neste MY Renewable
drives, technology demonstrations and presentations from Valtra and Diesel, which is made from 100% renewable raw materials, such as used
AGCO leaders. Our participation underscored our focus on collaborating cooking oil or animal fat from food industry waste.
toward profitable, sustainable farming solutions.
Enhancing the customer experience Developing smarter machines

We provide farmers in our network with access to innovative tools to help Automation and machine intelligence can help farmers overcome labor
them optimize their processes and enhance their performance. In doing so, challenges, improve operator performance and spend more time focusing
we are able to better equip farmers to address global food needs and meet on critical tasks. It is another way for farmers to enhance efficiency and
sustainability targets. These tools include: precision while adapting to changing field conditions, enabling them to
drive both sustainability and operational improvements.
• AGCO Connect, a fleet management tool for monitoring the status
of farmers’ machines to optimize efficiency and minimize downtime. Our intelligent solutions include operator guidance features designed to
Fendt’s telemetry smart farming solution provides real-time data help farmers optimize machine routes, reduce soil compaction and avoid
on machine performance, fuel consumption and location. It can be potential obstacles or hazards. They can be found in Fendt’s TI Headland
accessed from any device with an internet connection, allowing farmers and VarioGuide Contour Assistant, as well as in Valtra’s SmartTurn, Wayline
to make informed decisions and optimize their operations. Automatic Assistant and CTIS.
documentation saves time and effort.
We also offer AGCO precision technologies, which are both intelligent and
• FendtONE, an operating system that grows with the machine, integrates adaptive. Our precision planters and sprayers use sensors to adapt to field
all aspects of farm management into one platform, combining machine conditions, continuously varying downforce, spray rates and other variables.
control, data management and precision farming to provide farmers with a This can help farmers preserve the productivity of their soil and reduce their
comprehensive overview of their operations. With FendtONE, farmers can outputs by avoiding over-spraying crops.
make informed decisions and optimize their operations.
• Fuse, precision ag solutions that work across equipment brands and
software platforms to help customers farm faster, more efficiently and
more productively. Whether it is the newest precision technology to
enhance an AGCO machine or a solution to tie together a mixed fleet,
Fuse has the technology farmers need to combat rising input costs while
maximizing productivity.
• NEXT Farming, a software application, the acquisition of which was
announced in 2023 and completed in early 2024, that provides tools for
smart farming and data management. NEXT Farming delivers a range
of digital solutions, including machine communication, lease and area
management, professional livestock farming and more.
Connectivity also enables proactive machine maintenance to help
farmers avoid unplanned downtime. Our connected machines can monitor
components for various health indicators, such as excessive vibration or
heat, and relay automatic alerts to machine operators, farm managers
and AGCO dealer support specialists. This helps farmers schedule
preventive maintenance and ensure the availability of any needed parts.
It also empowers our dealer partners to provide customized support.
Powering tomorrow’s agriculture solutions

Being a great partner to our customers goes beyond addressing the challenges of today. It is also about Sharing our insights with the
looking toward the future to forecast emerging opportunities and needs. Through our robust research and farming community
development program, we are helping to shape an agricultural future that is more profitable, productive The more we learn and share, the more we can grow
together. With that in mind, PTI holds field days for
and sustainable. Our agronomy smart farms and technology innovations plant the seed for future products farmers and industry experts throughout the summer.
and enable us to gather the data needed to bring them to market with confidence. This work is highly In 2023, PTI engaged more than 5,000 attendees from
seven countries in nine events, which included updates
collaborative, and we are engaging farmers and research partners worldwide to share key insights, fuel our on our latest trials and hands-on demonstrations of
talent pipeline and spur agricultural breakthroughs. our latest technologies.
Investing in Agronomy Smart Farms
6,300+
Our Future Farms in Switzerland and Zambia, along with our Precision Technology Institute (PTI) in Pontiac,
Illinois, bring researchers and farmers together to explore, validate and demonstrate emerging agricultural
practices and technologies. These facilities are home to hundreds of ongoing studies aimed at tackling the many
National and regional patent
challenges of the agricultural industry, with an increasing focus on helping farmers enhance both sustainability
rights protecting our product and
and yields. Recent examples include studies on the efficacy of robotic planters, the relative benefits of various
service innovations
methods of phosphorous application and the economic implications of transitioning to no-till farming. As studies
are completed, our research teams verify and analyze the data. We then disseminate the results to the farming
community through online publications, agricultural events, social media and other means.
224 In 2023, we announced our plans to build a state-of-the-art test farm in North Dakota. The 300-acre operation,
known as the Dakota Smart Farm, will make AGCO an anchor tenant at the Grand Farm Innovation Campus,
New first patent applications filed
in 2023 which fosters innovative research and technology to solve agricultural challenges. Appareo, an AGCO subsidiary
based in Fargo, North Dakota, will lead the farm with agronomists, scientists, engineers and agricultural experts to
execute agronomic studies and host tours to educate farmers on sustainable and precision ag farming practices.
161
Agronomic research studies carried
out worldwide in 2023
Research partnership highlights AGCO IN THE AGRICULTURAL INDUSTRY ELECTRONICS

Partnering to push our industry forward
FOUNDATION (AEF)
SCOTTSDALE ACCELERATION CENTER
Through our partnerships with universities and other leading research When agricultural machinery is involved in road accidents, the consequences
institutions, we continue to push the boundaries of innovation and challenge In 2023, we opened an acceleration center in Scottsdale, Arizona, dedicated
can be significant. However, improved connectivity and data exchange
the agricultural status quo. We work with partners to be the trusted partner to software and electronics development in the areas of autonomy, precision
among all vehicles can enhance work efficiency and help to keep everyone
for industry-leading, smart farming solutions. ag, AI and digital products. The acceleration center is located at SkySong
safe. As a member company of the AEF, we are working to help standardize
Innovation Campus, an extension of Arizona State University, enabling us to
direct machine-to-machine communication among agricultural equipment of
attract more talent across key product development disciplines. This is our
different manufacturers and on-road vehicles. Part of the goal is to provide
second such initiative; our acceleration center on the University of Illinois
an early warning signal (e.g., large, slow tractor behind blind bend) to help
Champaign-Urbana campus opened in 2018 and helps nurture tech talent
prevent hazardous situations. The system was nominated for a “SYSTEMS &
within undergraduate and graduate student populations.
COMPONENTS Trophy – Engineers' Choice” at AGRITECHNICA 2023.
FENDT, BOSCH, BASF: ONE SMART SPRAY
RESEARCH PARTNERSHIP FOR ALTERNATIVE, SUSTAINABLE
Fendt, Bosch and BASF collaborated on ONE SMART SPRAY, a precision FARMING PRACTICES
ag technology that leverages high-resolution cameras to detect weeds
in real time and spray herbicide only where needed. The system reduces Through partnerships with LaSalle University, INRAE research center and
the use and cost of inputs for farmers and earned the CropLife IRON a network of farmers, experiments of alternative cropping systems are
Showstopper Award at the Midwest AG Industries Exhibition in 2023. conducted in France with a focus on relay cropping. These field trials,
Fendt is integrating ONE SMART SPRAY into its award-winning Rogator® consisting of planting seeds between rows of a growing crop, enable us
900 solution, the industry’s only self-propelled, adjustable-height to evaluate the benefits of soil health, drought resistance and yield-risk
applicator. The system is currently in field testing, with general availability mitigation, and to understand the requirements in adapted machinery
anticipated for 2026. and integration in the farming process.
H2AGRAR: GREEN HYDROGEN FOR AGRICULTURAL MACHINES

Fendt is participating in H2Agrar, a multipartner research project,
funded by the State of Lower Saxony in Germany, to advance the use and
distribution of green hydrogen in agriculture and across rural areas. As a
project partner, we focus on the development of hydrogen-fuel cell tractors
and their practical testing. The project began in 2021 and will continue
through 2024. The first concept tractor “HELIOS” was delivered in late
2023, and farmers have successfully conducted initial field tests.
PROFESSIONAL VEHICLE OPERATING SYSTEM (POV.OS)

CONSORTIUM PROJECT
The publicly funded POV.OS project is hosted by a consortium of universities
and companies, including AGCO. The project is focused on the design
and implementation of a flexible electronics platform that includes both
hardware and software used to enhance automation in agricultural
machines. As a consortium partner, we are working to establish and test
use cases for the platform, which will enable machine operators to enhance
efficiency and keep their equipment up to date. The project was presented
at the ROSCon 2023 conference and also at the 2024 Agricultural
Engineering LAND.TECHNIK conference.
MASSEY FERGUSON PARTNERS WITH UNILASALLE

Massey Ferguson is supporting several cutting-edge research projects at
UniLaSalle Polytechnic Institute. The studies focus on using agro-economic
considerations to inform future generations of machines. Current projects are AGCO POWER COLLABORATING IN CLEAN PROPULSION FINNISH FUTURE FARM PARTNERSHIP ESTABLISHED
examining the interactions between tractors, precision technologies and the TECHNOLOGY RESEARCH CONSORTIUM Co-funded with the European Union Just Transition Funding, Valtra and
soil, as well as ways to optimize tractor power. In addition, this partnership is
AGCO Power is engaged in multiple research partnerships, including AGCO Power have started a three-year partnership with the Bioeconomy
a opportunity to work with young students and, as such, can be a source for
through the Clean Propulsion Technology research consortium, an effort led campus of Jyväskylä University of Applied Science in Central Finland.
future talents connecting agronomy and machinery knowledge.
by the University of Vaasa. The goal is to develop radically new solutions for The aim of the collaboration is to test and deliver sustainable impact
SOLGRAS PROJECT clean and efficient off-road transport. Initiatives include the Black Carbon technology via four work streams: experimental field data, farm digital
Footprint project — aimed at tracking and quantifying the climate impact of twins, knowledge-based farm management and the creation of a start-up
Funded by a government grant through the Danish Grønt Udviklings- og
air-bound soot — and the Green Factory project to help companies reduce community to drive innovation.
Demonstrations program, the SOLGRAS project is a collaboration between
their environmental impact.
AGCO, SAGRO and Aarhus University. It is focused on developing a
decision-support process to optimize efficiency and yield, while avoiding AGCO AS A MEMBER OF THE MOBIMA E.V. RESEARCH CONSORTIUM
soil compaction, when harvesting sedge grass. The potential benefits are
Based in Germany, this powerful consortium with representatives from
substantial; studies show that managing traffic in the field can result in as
agriculture, construction, logistics and municipality machinery companies
much as a 20% yield gain — corresponding to millions of additional bushels
is investigating trends around the mobile machine sector. It funds
of sedge grass each year.
collaborative research projects to advance technology like future electric
drive systems topologies, advanced perception, safety for autonomy, as well
as tractor-implement automation systems that integrate AI and machine
learning. The goal of these projects is to make products more efficient,
productive and sustainable.
Financing sustainable farming solutions Helping farmers advance their climate journeys
In 2021, AGCO Finance established the Climate Journey Fund (CJF) — representing an initial
We believe in farmers’ ability to help create a more nourished, sustainable world. commitment of €50 million — to support climate-smart agricultural practices. In 2023, AGCO
Finance doubled down on this commitment, growing the CJF to €100 million. The goal is to
To support them, we provide strategic investments that farmers can use to transform facilitate financing for eligible farms and businesses engaged in initiatives such as transitioning
their operations with new capabilities, precision technologies and advanced from conventional to organic produce, participating in net zero value chains or working to
obtain market access via sustainable certification. The CJF operates through three distinct
machines. Through AGCO Finance, our JV with De Lage Landen (DLL), we help go-to-market channels:
farmers make strides in sustainability with game-changing financing, insights, • Sustainable, regenerative and organic certification
outreach and tools. AGCO Finance’s distinctive approach leverages DLL's sustainable • Supply chain initiatives or sustainable partnerships
finance leadership and is aligned with our strategic sustainability pillars to make a • Carbon programs
positive impact within the JV’s sphere of influence. To further support the advancement of climate-aware agriculture, AGCO Finance is partnering with
some of the world’s largest issuers of food security, traceability and sustainability certifications.
We are also expanding our relationships with growers inside approved food labels and carbon
farming programs. In 2023, AGCO Finance significantly extended these collaborative efforts by
leveraging more than 87 global eco-labels focused on soil health improvement and biodiversity
protection. These efforts led AGCO Finance to provide over $7 million in loans to directly benefit
more than 15 Brazilian farmers participating in Bayer’s Carbon Farming Program.
Overall, we achieved significant milestones through the CJF in 2023, with utilization reaching
over €100 million by December — a remarkable 800% year-over-year increase from 2022. The
funding supported more than 600 farmers globally and enabled improved soil health practices
across more than 17,000 acres, underscoring our commitment to advancing global sustainable
agricultural practices.
The Climate Journey Fund’s 2023 impact at a glance

In 2023, the CJF made €100M available to facilitate affordable financing on AGCO
equipment to eligible farmers pursuing sustainable outcomes. In 2023, AGCO Finance published
“Embracing AI for Sustainable
Agriculture,” which highlights the
Three go-to-market channels:
transformative power of AI in shaping
1. Sustainable, 2. Supply chain initiatives 3. Specific assets and the future of sustainable agriculture. By
regenerative and For growers inside off- carbon programs harnessing data from various sensors, AI
organic certifications taker net zero supply High-quality carbon enables more precise decision-making,
With credible third-party chains and strategic farming transition helping farmers optimize irrigation,
assessments for projects partnerships (e.g., the programs (e.g., Bayer’s fertilization and disease detection. Visit
enhancing or preserving Lantmännen Swedish Carbon Farming Program the AGCO Finance website to read
soil health agricultural cooperative) and the RWZ Klima more thought leadership on sustainable
Humus initiative) agricultural practices.
22 €100M+ 17K+ 80+

Countries Utilization, 800% Acres where soil Soil health
increase from 2022 health improved improvement labels
2X 400+ 5+ $7M
Funding in 2023 Customers financed Global sustainable In loans to directly benefit
vs. 2022 partnerships farmers in Bayer’s Carbon
Farming Program
Our dedication to product stewardship

Even as farming becomes more advanced, the fundamentals of product safety
and quality remain critically important. Farmers trust AGCO to deliver machines Product recognition and awards
they can safely operate and rely on through the years. Our products are farmer-tested to ensure
they can deliver value and reliability in
the field. In 2023, we were proud to be
recognized for product excellence across
the industry throughout the year. Visit
our website to view our recent industry
Delivering unrivaled quality Keeping farmers safe acknowledgments and awards.
and performance and engaged
With a commitment that extends across Through our SMART Safety campaign, in which we
the product development, manufacturing work closely with the Safety Foundation in the U.K. to
and field performance lifecycles. research and identify safety best practices. We focus
on four pillars — visibility, fatigue, attitude and all-
By establishing quality checks throughout various
day, every-day safety — and support farmers through
processes used to bring a product to the marketplace
outreach and by providing resources on our AGCO PRODUCT RECALLS
to ensure products meet the highest quality standards.
and brand websites.
Through our product integrity review process, which One of the key elements in living the Farmer-First mindset is going to great lengths to
With a dedicated Customer Experience Center of
helps us identify, understand and address the root understand customer issues and fix them as fast as possible. Once an issue is understood
Excellence team that actively engages customers
causes of issues that emerge in the field. The process and we have a customer solution, we launch a Product Support Program (PSP). This triggers a
to build loyalty and enable customer-driven
focuses on: request to the supporting dealer that a mandatory or optional repair is ready to be performed
improvements, including through one-on-one
• Engaging in transparent discussions of why an discussions, panel sessions and survey research. on a customer machine, and the dealer must carry out the updates. In 2023, AGCO launched
issue may have occurred 168 PSPs and completed repairs for 121,399 units in total. Product recalls are tracked machine
By leveraging NPS, a key performance indicator by machine, and AGCO’s focus is to get all units updated in a timely manner. Performing
• Applying methodologies for continuous learning (KPI) that helps us improve customer experience proactive repairs prevents machines from underperforming over long periods of time, which
and improvement and develop new generations of products. helps reduce machine failure as well as decreasing the requirement for new parts.
• Sharing lessons learned across teams and sites
• Doing even more to support customers by
preventing potential failures
168 121,399
Mandatory and optional recall campaigns Units repaired
Promoting animal welfare

As the global population continues to increase and human
standards of living rise, driving demand for animal protein,
so do concerns about animal welfare and efforts to find more
sustainable and productive ways to raise healthy animals.
Our customers are committed to the health and wellbeing of
their animals, and we support their commitment with smart
solutions to help them improve both welfare and profitability.
Examples include:
• Cumberland, AP and Tecno brands provide integrated systems for poultry, swine and egg
producers, helping them safeguard animal welfare, health and productivity.
• EDGE®2 is our leading control platform for protein operations that helps farmers monitor their
animals’ environment and collect information, including feed, watering, animal weight, ventilation,
cooling, heating and lighting data 24/7. This platform provides invaluable, real-time data that
supports farmers in keeping their animals safe, stable and healthy.
• Scout is the world’s first ceiling-suspended robot that monitors broiler chickens and their
environments. Scout uses sensors to measure thermal comfort, air quality, light and sound. Using AI
and an onboard smart camera, it enables farmers to proactively address a range of environmental
issues — even those they cannot normally see. Engaging customers and animal experts
• Our investment in OptiFarm helps farmers improve productivity and animal welfare. OptiFarm
leverages a team of experts and its proprietary software to monitor livestock behaviors and provide In 2021, we established an Expert Advisory Animal Welfare Panel to inform our animal welfare initiatives.
farmers with recommendations to create an optimal environment for their animals. Comprised of leading external experts, the panel brings diverse, independent perspectives to advise us
on how our solutions can improve animal health and wellbeing while supporting farm productivity and
profitability. In 2023, we continued to leverage the panel’s insights and further align our product roadmap
with its suggested KPIs.
We also engage our customers to gain a deeper understanding of their priorities, expectations and concerns
related to animal welfare regulation. In 2022, we conducted a survey among U.S. poultry and swine growers
to further inform our product roadmap and ensure we are meeting customers’ evolving needs.
Environmental Sustainability
Embedding sustainability into our business strategy is one of our
top priorities. We operate more than 110 facilities in 31 countries
around the world, and each of them is working to deliver value for
our company and farmers by embracing sustainable practices.
IN THIS SECTION:
36 Accelerating climate action
39 Decarbonizing our operations and value chain
45 Remanufacturing toward a circular economy
46 Conserving natural resources
“ e are in a relentless pursuit of operational excellence, where

W
every employee plays a crucial role and where continuous
improvement thrives. Our commitment is reflected in our
performance metrics improvement, taking conservation and
efficiency to the next level and making it an inherent part of
our company’s identity.”
—Tim Millwood, Senior Vice President and Chief Supply Chain Officer, AGCO
Accelerating climate action

As a global leader in agricultural machinery, our success is directly
linked to that of farmers, who increasingly find themselves on
the front lines of climate challenges. The evolving agricultural
landscape can be marked by severe weather events, water
scarcity and a shrinking amount of arable land. These issues
pose significant risks to farmers’ livelihoods and their ability to
sustainably feed the world. With risks, however, come
opportunities, and we are energized to be part of the solution.
Much of our focus is on innovating sustainable The stakes are high, as the agriculture industry
solutions to help farmers decarbonize and is responsible for approximately one quarter of
optimize their operations. At the same time, we global greenhouse gas (GHG) emissions.
are committed to integrating sustainability into AGCO and our farmers alike acknowledge the
our core business strategy. We are working on need to reduce the emissions associated with
developing our climate transition plan, which agriculture and embrace the challenge of
sets out key levers to reduce our climate accelerating positive change. We have made
impact by addressing both operational and significant progress, and we are determined to
value chain emissions. In our operations, we build on this momentum in the coming years to
are embracing renewable energy and continue driving positive outcomes for farmers,
furthering initiatives to make our sites more our business and the planet.
energy efficient. Throughout our value chain,
we are delivering sustainable product solutions,
optimizing our transportation and logistics
networks and engaging supply chain partners
to help them drive environmental progress.
Our clean energy approach establishes key levers to reduce our climate
impact by addressing both operational and value chain emissions.
How we are working to reduce our carbon footprint
SCOPE 1 AND 2 SCOPE 3
Account for <1% of our carbon footprint Accounts for >99% of our carbon footprint
OCCUR FROM: OCCUR FROM:

• Scope 1: On-site fuel combustion in our facilities and • Raw materials and components purchased from suppliers, as well as
company vehicles other purchased goods and services
• Scope 2: Purchased electricity, heat and steam consumption • Upstream and downstream transport and distribution
in our facilities • The use of our sold products during their lifetimes
HOW WE ARE ADDRESSING: HOW WE ARE ADDRESSING:

• Setting a new, ambitious decarbonization target of 55% absolute • Baselining supplier performance and driving targeted reductions
emissions reductions in Scope 1 and 2 by 2033 and 90% emissions through EcoVadis
reductions by 2050
• Engineering new powertrains, including fully electric, hybrid and
• Increasing both on-site and sourced renewable energy biogas solutions
• Expanding energy-efficiency and conservation initiatives at our • Driving efficiency improvements across internal combustion engines
facilities leveraging our QUEST toolkit and Green Growth Initiative (ICE) and compatibility with hydrotreated vegetable oil and
• Transitioning from natural gas to electrification wherever feasible alternative fuels
• Increasing the use of company electric and hybrid vehicles
Managing climate risks and opportunities

Conducting climate scenario analysis empowers us to proactively seize
opportunities and manage risks while building resilience in the face of a
changing climate, market and regulatory landscape. We have assessed
our risks and opportunities against both “well below 2°C” and “inaction”
scenarios. Through this process, we identified a comprehensive list of
potential physical and transition risks, as well as opportunities to support
Our investments in precision sustainable business growth.
ag and research and Based on these assessments, we anticipate that the climate-related physical
risks facing our customers could potentially impact our revenue growth and
development activities business operations. While climate risks vary across geographies, the
provide farmers with agriculture industry is highly susceptible to physical risks such as extreme
temperatures, flooding and drought. These findings affirm the importance
critical tools to adapt of — and the need to continually expand — our efforts to decarbonize our
to a changing climate. operations, improve business resiliency and develop products and services
to help farmers reduce their own emissions and become more resilient to
the effects of climate change.
Our investments in precision ag, and research and development (R&D)

activities provide farmers with critical tools to adapt to a changing climate.
They also create significant prospects for capitalizing on climate-related
opportunities. For example, farmers can play a pivotal role in reducing
agriculture-related GHG emissions by implementing practices that enhance
the soil’s capacity for carbon sequestration, and we are taking steps to help
farmers monetize these efforts. We will continue to leverage and refine
these scenarios over time to improve our climate resilience, track market
opportunities and create future value for farmers and our business. Not only
will this position us to adapt to changing agricultural and industry conditions
— it will also empower us to emerge even stronger.
For more information,

view our 2021 TCFD
climate risk report and
2023 CDP disclosure.
Decarbonizing our operations Reducing Scope 1 and 2

emissions
Since beginning to track reductions in our Scope
1 and 2 manufacturing emissions intensity in
2020, we have continued to see a downward
and value chain Our Scope 1 and 2 emission sources vary across
sites, with most originating from manufacturing
trend each year. This trend continued in 2023,
as we saw a 15% reduction from 2022 —
representing an overall reduction of 41% from
Our decarbonization plan extends from our supply chain to our operations operations — predominantly from electricity
our original 2020 base year.
and natural gas use. Other sources include
and our supplier network, including our company vehicles and product portfolio. district heating and liquid fossil fuels such as Despite a significant increase in production due
True to our Team Up! Cultural Belief, we are working together across the diesel, biodiesel and fuel oils used for on-site to an increase in production hours to support
transportation, testing processes and other our business growth, our absolute Scope 1 and
value-chain to set and achieve ambitious carbon-reduction goals. activities related to R&D. We previously limited 2 emissions (associated with our complete
our reporting of emissions and energy data to the portfolio, including company vehicle emissions)
company’s manufacturing sites. In 2022, we used also saw a year-over-year decrease of 4% in
our environmental, social and governance data 2023. We achieved this by optimizing energy use
SCOPE 1 AND 2 EMISSIONS-REDUCTION TARGETS management and reporting tool, AGCO STAR, in our production processes through targeted
to broaden this process. We now report emissions energy conservation and efficiency measures
and energy data for our global manufacturing and by replacing and electrifying various
Against a 2022 base year, we have committed to:
sites — which we continue to report separately equipment, as well as by increasing the use of
for target tracking purposes — as well as all renewable electricity.
Decrease absolute Scope Decrease absolute Scope
warehouses, assembly facilities, offices and
1 and 2 GHG emissions by 1 and 2 GHG emissions by
training centers and company vehicles worldwide.
55% by 2033 90% by 2050 Our initial Scope 1 and 2 target that we set in
2020 targeted a 20% reduction in the emissions
ANNUAL CUMULATIVE REDUCTIONS IN
EMISSIONS INTENSITY
(from a 2020 base year)
intensity of our manufacturing operations by
45.000 2026. In 2022, we surpassed that target by 11%. 41%
39.375 Building on this momentum, in 2023 we set new
targets to reach the next milestone of our long- 31%
33.750 term climate objectives. These targets align with
28.125 the 1.5°C trajectory, per the Paris Agreement.
22.500
16.875 13%
11.250
5.625
0.000
2021 2022 2023
INTRODUCTION2023 PURPOSE-DRIVEN INNOVATION ENVIRONMENTAL SUSTAINABILITY SOCIAL IMPACT GOVERNANCE INDEX AGCO 2023 SUSTAINABILITY REPORT 40
2022 XX%
31%
2021
SCOPE 1 AND 2 GHG EMISSIONS BREAKDOWN
13%
MANUFACTURING COMPLETE PORTFOLIO
2020 2021 2022 2023 2022 2023
Scope 1 (tCO2e) 50,269 58,342 62,073 64,126 80,618 79,541
Scope 2 location-based (tCO2e) 91,287 99,280 83,197 88,229 91,508 97,274
Scope 2 market-based (tCO2023

2e) 2023 50,259 47,953 33,731 28,768 41,803 37,999
2022 39% 2022 XX%
35
Total Scope 1 and 236%
2021 market-based (tCO2e) 31% 100,528 106,295 95,804 92,894 122,421 117,540
32%
30
2020
Emissions outside of Scopes (tCO2e) 2,102 2,547 2,898 3,214 2,907 3,224
26% 25
Notes:
• “Manufacturing” 20 includes our 33 manufacturing sites in 2022 and 32 in 2023.
• “Complete portfolio” includes our manufacturing sites, warehouses, 2021

assemblies, offices and training centers, and company car fleet and excludes dealerships.
• “Emissions outside 13% sequestered carbon (biofuel use).
15 of Scopes” represents CO2 emissions from biologically
• We will continue disclosing “manufacturing only” emissions separately for comparability and progress-tracking purposes. Moving forward, we are committed to improving our data quality and expanding coverage
to all other sites10included in our “complete portfolio” emissions.
RENEWABLE0 ELECTRICITY USE1 RENEWABLE ENERGY USE1 2023 EMISSIONS SHARE BY SITE TYPE
2023 XX% 9%
2023 2022 39%
40
72% 2021 36% XX%
2022 12%
35
63% 32%
2021 2020 For more information on our
30
26% 79% data collection process and
51%
2020 25
methodology, please refer to
39% 20 p.75 of our GRI Index.
XX%
15
10
0 Fleet Nonmanufacturing sites Manufacturing

1. AGCO manufacturing sites
XX%
2023
80
72% XX%
2022
70
Optimizing energy QUEST to add a “sustainable operations” category to our AGCO Production
System checklist and audits, achieved approval for approximately
We continually seek opportunities within our facilities and operations to:
$5 million in capital expenditure for efficiency projects and identified more
• Conserve energy than $9.2 million worth of high-potential future projects for 2024.
• Optimize our processes and improve energy efficiency Increasing our use of renewables
• Reduce the use of fossil fuels by electrification
Our renewable energy target is to reach 60% renewable energy use across
• Replace conventional diesel with biodiesel manufacturing operations by 2026. In 2023, we conducted a renewable
Our Green Growth Initiative provides financing and support for manufacturing energy opportunity assessment focusing on our larger manufacturing sites
leaders to expedite and implement energy-efficiency projects. Through the in Europe, North America and China and identified long-term strategic
initiative, approximately 82% of manufacturing sites have either installed or are opportunities to ensure we are on track to meet our renewable energy
in the process of installing light-emitting diode (LED) lighting. target. A mix of solutions based on regional opportunities have been
identified, which will take AGCO toward 100% renewable electricity use
Our Quick Energy Savings Tools (QUEST) energy- across our manufacturing sites by 2026.
conservation support toolkit provides 25 evaluation
74% tools that enable each site to systematically identify,
analyze and execute energy-efficiency projects.
We purchased 100% renewable electricity at 18 of our manufacturing sites in
2023, and one of our largest sites, the Linnavuori campus of AGCO Power
Manufacturing sites Areas covered under QUEST include lighting system engine manufacturing, has secured energy attribute certificates covering
with Green Leaders retrofits, process heating and cooling, compressed 75% renewable electricity with a gradual ramp-up to 100% by 2026. In
teams established as air systems, heat recovery and new building 2023, our Santa Rosa site installed new solar panels, in addition to the six
of 2023 construction. Examples of recent and ongoing other sites with solar panels already operating.
efficiency projects include:
As part of our near-term decarbonization plan, we are looking to have
• Ensuring heating, ventilation and air conditioning efficiency and 90% of our nonmanufacturing electricity consumption come from renewable
improving building insulation sources by 2033 and are aiming to electrify our company vehicles within
• Installing Building Energy Management Systems and smart controls to the same timeframe.
optimize our energy use
• Electrifying our heating technology and switching to high-efficiency
heating equipment 2023 RENEWABLE ENERGY HIGHLIGHTS
• Exploring lower-curing-temperature paints to reduce natural gas usage
in our paint shops
The QUEST toolkit enables us to align initiatives across regions and support
efficiency and conservation projects under our Green Growth Initiative. We
7 18 95%
Sites installed Of 32 global Renewable
are leveraging these tools to share knowledge, make informed decisions solar panels manufacturing electricity used
and build out a best-practice library for use across our locations. Through sites now powered in EME and SA
QUEST, we have established teams of Green Leaders at the majority of by 100% renewable manufacturing
our sites. These teams consist of representatives from various functions electricity sites
that champion energy management at the site level. In 2023, we also used
Reducing emissions from on-site and company vehicles

A key lever for decreasing Scope 1 and 2 emissions is to increase hybrid and electric vehicles (EVs) within our owned and leased
company vehicle fleets. Working against our 2022 fleet baseline, our approach accounts for regional regulatory and market
conditions and potential energy-reduction impacts.
Good for farmers, good for the planet: Optimizing
We prioritize EVs in areas with developed EV infrastructure and sufficient renewable electricity in the grid. Elsewhere, we prioritize
efficiency and productivity at Valtra hybrid vehicles. We are also exploring other alternatives, including electric bikes and public transportation passes. Our approach
Our factories work to continually lower our emissions, reduce energy use and improve the further drives us to reduce available engine size options for ICE vehicles and increase monthly allowances for lower-emissions
environmental footprint of our manufacturing. Valtra’s tractor factory in Suolahti, Finland — engines, thereby encouraging drivers to select hybrids or EVs.
one of our most sustainable facilities — is a prime example of these efforts. Highlights of the
To reduce on-site vehicle emissions, we added several electric and compressed natural gas (CNG) vehicles to our North American
facility include:
operations in 2023, including two Class 8 tractor-trailers used to transport component parts and a CNG delivery van.
100% renewable energy 12,240 tons of CO2 saved

Since 2022, the factory has used 100% Neste MY Renewable Diesel has helped us
renewable energy from wind, water and eliminate 12,240 tons of CO2 over more
“
bio-based sources. than five years.
We are investing in technology that improves
97% lower emissions 0% landfill
The factory is fast approaching zero- Since 2016, we have sent zero waste product quality and production output for customers,
emissions status, having reduced emissions materials to landfill.
by 97% over five years.
while also improving environmental efficiencies, safety
90% recyclable materials and working conditions for our team.”
17% less inbound CO2 Tractors use 90% recyclable materials so
The factory works closely with its supply their parts can be repurposed at end of —Tiina Herlevi, Director of Manufacturing, Valtra EME
chain, sourcing components as locally as useful product life.
possible, which has reduced incoming
CO2 by 17% since 2018.
Our improvements do not end with environmental efficiencies: we are also investing in
significant expansion and modernization at our Suolahti factory to enable even better
customer service, greater production capacity and improved working conditions. We recently
opened Valtra’s new 2,000-square-meter paint shop at the factory, which ensures a high-
quality finish and enhances process efficiency through increased automation and precision
machining. This has enabled the Valtra team to better serve farmers by facilitating an
accelerated production pace that increases capacity.
Addressing Scope 3 emissions

In 2023, we increased focus on our broader value chain and made a pivotal
shift toward addressing Scope 3 emissions. These emissions often represent
the majority of a company’s GHG emissions footprint — especially in the
manufacturing sector — and account for approximately 99% of our GHG
emissions at AGCO. In alignment with our decarbonization efforts, we
calculated Scope 3 emissions across 15 upstream and downstream
categories and found that most emissions fall within Category 1 (purchased
goods and services) and Category 11 (use of sold products).
SCOPE 3 EMISSIONS
CATEGORY (tCO2e)
2022 2023
Purchased goods and services 5,640,383 5,677,222
Use of sold products 19,562,638 21,435,904
Upstream and downstream transport 2,264,10 2,353,810

Developing products that support a
reduced-carbon future
Our path toward a decarbonized value chain includes several ongoing Development of next-generation
actions, such as: zero- and low-emissions machines
• Engaging with suppliers to encourage them to decrease their emissions is a focus of our Scope 3 emissions- Engaging suppliers
reduction efforts. Read more about
• Supporting farmers’ transition to sustainable solutions We work with many of the world’s top agricultural suppliers, who are crucial partners
how our product and technology in our effort to become a more sustainable company, and we are committed to raising
• Decarbonizing our products
innovations are powering the future. awareness of our sustainability objectives throughout our supplier network. Our teams
• Working with industry associations to engage on environmental issues
actively engage suppliers to ensure their actions align with industry best practices and
like the role of renewable and low-carbon fuels in agricultural machinery
our company’s goals. In 2023, we continued our program with EcoVadis to establish a
baseline for the sustainability performance of our top 500 tier 1 suppliers. Approximately
250 suppliers have returned their scorecards or are in the process of completing them.
Across all four thematic areas covered by EcoVadis, our suppliers are exceeding the
global benchmark.
We are using the insights gained through the EcoVadis platform to

OUTCOMES OF OUR SUPPLIER SCORECARD engage with our supply chain about best practices and improve our
company’s performance. We are also leveraging these insights to assess
OVERALL8 current and future supply chain risks and define development plans to
56.0
ensure supply chain stability and compliance.
+10.0 compared with benchmark
Improving transport and logistics
We continually refine our global logistics network to reduce GHG emissions.
ENVIRONMENT One of our key initiatives is to enhance networkwide visibility using advanced
60.4
track-and-trace systems. Gaining a clearer view of the logistics chain enables
+14.2 compared with benchmark us to strategically optimize routes, resulting in reduced fuel consumption and
overall emissions. At the same time, we are working to minimize packaging
waste and reduce vehicle emissions associated with the delivery of parts to
LABOR AND HUMAN RIGHTS our factories and distribution centers.
57.2
We are also fostering partnerships with regional suppliers to create
+8.4 compared with benchmark opportunities for more local sourcing while helping suppliers grow their
capacity to meet our high standards. When we do ship materials over
longer distances, we seek ways to develop lighter and more space-efficient
ETHICS shipping solutions to further reduce our energy and emissions footprint. Learn more about
our responsible
51.6 +7.9 compared with benchmark

sourcing practices.
SUSTAINABLE PROCUREMENT
47.7 +10.0 compared with benchmark

Partnering with suppliers on sustainability
8. Methodology notes: All rating scores are based on EcoVadis results as of
December 31, 2023. Throughout the year, we host campaigns and forums to raise awareness
of sustainability and other critical topics across our supplier network. In
2023, we held a series of Supplier Day events in North America, South
America and Europe where company leaders met with critical suppliers to
discuss various strategic imperatives, including our sustainability priorities.
We proudly recognize and celebrate excellence in sustainability with our
annual Supplier Sustainability Awards, elevating the profiles of outstanding
suppliers to inspire and drive positive change across the industry.
Remanufacturing toward a Investing in Reman worldwide
circular economy Brazil Finland

FINLAND
MOGI DAS CRUZES
Our products are built to last, and even after years of heavy LINNAVUORI
Massey Ferguson and Valtra Fendt, Massey Ferguson and Valtra
use, we can still extend their value and life. Many of our AGCO POWER engines engines and fuel injection equipment
major tractor components — such as electronics, engines and
hydraulics — can be remanufactured and restored to a like-new Finland
SUOLAHTI
state. The process goes well beyond repair; our remanufactured
Massey Ferguson
products are stripped down to their individual components, GERMANY
Mechanical
BRAZIL France
inspected, cleaned and fully rebuilt. BEAUVAIS
Transmissions
and Valtra
FRANCE
Before leaving our facilities, each remanufactured product undergoes Massey Ferguson 8S Mechanical
1,024 rigorous testing to ensure it meets the same safety, quality and Transmission & Differentials Transmissions
efficiency standards as new equipment. In fact, many products are and PTO
Engines remanufactured remanufactured to the newest engineering standards that were not
in 2023 available during the time of purchase, yet farmers can purchase them at
a substantially reduced cost. Additionally, all remanufactured products
come with a like-new warranty or, in some cases, an extended version.
Germany
$8M Beyond delivering excellent value, our remanufactured products

provide farmers with a highly sustainable equipment option. By
MARKTOBERDORF
Fendt, Massey Ferguson and
Investment to expand Valtra CVT transmissions
Reman operations reusing existing materials and components, remanufactured
items reduce the use of water, energy and raw materials used in
GOAL: PROGRESS:
new products while avoiding manufacturing-based emissions and
preventing waste. Even smaller products, such as controllers and diesel particulate filters, can be Increase remanufacturing 31% Cumulative increase in
remanufactured or thoroughly cleaned to enable the reuse of valuable metals. revenue to 150% of our Reman revenue from baseline
2020 baseline by 2025
We continue to expand our Reman program, which now covers 13 unique commodities, a broader range 10% Global growth in Reman
of machine models and components, and five Reman centers of excellence worldwide. In 2023, we made revenue in 2023 from 2022
our biggest Reman investment in recent years, committing more than $8 million to expand our operations
in Linnavuori, Finland. We also continued to ramp up production of Reman engines at our center of 131% of baseline revenue
excellence in Mogi das Cruzes, Brazil, which we opened in 2021. We are a pioneer in the Brazilian market, in 2023
as one of the only engine remanufacturing operations in the region. Looking ahead, we plan to continue
expanding our presence in the country, with plans to add an additional reman facility currently underway.
Conserving natural resources

Do more. Use less. That is our philosophy when it comes to designing products Responsibly managing waste
that help farmers boost efficiency and precision, and the same goes for our We recognize the importance of a comprehensive waste management plan
that aligns with our overall commitment to environmental sustainability. We
operational approach. We are dedicated to acting as responsible stewards of continually work to optimize our manufacturing processes to reduce and TARGET:
the natural resources that support our business, including water and waste. reuse materials to reduce waste, with an emphasis on designing products
Divert and
with longer life cycles and recyclability in mind. As part of these efforts, we
set a new target in 2023 to further reduce our waste. maintain >90%
of nonhazardous
Practicing water stewardship To support progress toward this target, in 2023 we piloted a nonhazardous waste from
waste management program called RETHINK, which adopts the Reduce,
landfills by 2026
Maintaining adequate supplies of fresh water is essential to growing food and Reuse, Recycle principle. The program works to raise employee awareness of
preserving healthy, diverse ecosystems. Instances of drought and insufficient our waste disposal reduction efforts and increase recycling at all locations.
water for agriculture can have devastating impacts on farm productivity — Various AGCO sites have engaged in the program’s pilot, with a global
depleting the soil and decreasing field and crop health. With this in mind, we rollout planned in 2024.
emphasize water efficiency in our operations. In 2023, we set a new target to
further reduce our water consumption, with a special focus on manufacturing
sites located in high-water-stress areas.
TARGET:
Reduce absolute water
withdrawal by 10% by
2026 compared to 2022
base year across our Remanufacturing for a more sustainable future
manufacturing sites
The reuse of manufactured items contributes
to our conservation and waste-reduction
efforts. Learn more about how we’re leveraging
For detailed information on our
our remanufacturing program to reduce our
water consumption, please refer
use of natural resources.
to p. 77 of our GRI Index.
Other initiatives we undertook in 2023 to reduce waste SECOND EDITION

in our facilities around the world include:
In Europe, we launched a Global Parts Packaging

Harmonization project to review the packaging
needs of our parts business. The primary packaging
considered was cardboard and plastic bags, due to
their high volume of use. The project takes into account
STOP FOOD
WASTE DAY
regulations concerning packaging, as well as technical
specifications, recyclability and reusability to ultimately
deliver packaging designs that meet the needs of our COOKBOOK
farmers and drive sustainability performance.
Each year, our Assumption, Illinois, U.S., facility holds a

Recycle Fest event in tandem with the local community.
In 2023, the event helped collect 26 large boxes of
recycling, two pallets of fluorescent bulbs and two bales of
cardboard, among other items. To further reduce its waste,
the facility also purchased 12 plastic banding chopper
machines, which was used to shred over 22,000 pounds
of plastic banding, preventing it from going to landfill and
providing value through waste-to-energy.
At three manufacturing sites in Illinois, U.S., five interns

teamed up to conduct a waste audit aimed at better
understanding how recycling is managed at the sites. The
audit discovered several opportunities to improve recycling
and included recommendations related to waste bin At our Stoneleigh, U.K., facility, we implemented measures
labeling and placement and employee education. to minimize food waste on site, including using a cookbook
to repurpose items that previously would have gone to
waste, such as food scraps and vegetable cuttings. Our
efforts mean the facility requires fewer food deliveries
and has reduced waste collections, further reducing our
carbon footprint.
For detailed information on
waste, please refer to p.82
of our GRI Index.
Social Impact
We are cultivating a workplace that spurs innovation,
enhances safety and wellbeing, and accelerates employee
growth. We also aim to make a positive impact that extends
beyond our four walls and take pride in supporting supply
chain partners and the communities we serve.
IN THIS SECTION:
49 Our global workforce
55 Health, safety and wellbeing
59 Making a positive community impact
Need
Image
“ hen our people, our farmers and our communities

W
thrive, we all prosper. We are listening, engaging and
acting in completely new ways to build an inclusive
workforce, ensuring the best ideas are heard and
brought to life to help advance our farmers’ futures.”
—Ivory Harris, Senior Vice President and Chief Human Resources Officer
Our 2023 Workforce at-a-Glance

Our global workforce
AGCO’s global workforce is united by a common purpose: Farmer-focused ~27,900 Employees
solutions to sustainably feed our world. Our diverse, highly skilled team is at the
forefront of pioneering advancements in agriculture and technology that are Female employees Part-time employees
17% 2%
shaping the future of farming on a global scale. Guided by our Cultural Beliefs,
we promote an inclusive work environment where every employee can thrive.
We offer employee development opportunities designed to empower our team GENDER TYPE
members to excel in their roles and reach their full potential.
Rooted in our Cultural Beliefs Male employees Full-time employees

83% 98%
We are driven to deliver exceptional results for our employees, farmers and
shareholders worldwide. As we seek out and develop workforce talent in a
complex global marketplace, our culture is what sets us apart. Our Cultural
SA APA Under 30
Beliefs play a key role in driving our success, helping us empower our 18% 6% 16%
workforce and reinforcing our shared commitment to farmers, transparency
and teamwork. EME
53%
OUR CULTURAL BELIEFS REGION AGE

30-50 years old
58%
Farmer First Speak Up! Team Up!
I put farmers’ I raise challenging I maximize AGCO
success at topics openly and results through
the center of debate respectfully. teamwork and
NA Over 50
everything I do. aligned actions.
23% 26%
Please see our GRI Index in the Appendix to view additional workforce data.
Sparking change with our Employee listening

Culture Champions We work to ensure employees have a positive and fulfilling professional
experience. We strive to nurture a dynamic, inclusive workplace where
AGCO’s Culture Champions play a critical role in guiding our
people can grow and thrive. We do so through a range of global employee
ongoing cultural transformation. Comprised of a global network
experience and wellbeing programs, including our Voices engagement
of employees selected for their leadership, change agility and
listening strategy, which provides valuable employee perspectives and
commitment to our cultural evolution, these champions represent a
insights that help to shape employee policies.
wide cross-section of locations, brands and functions. They serve as
change agents, delivering a customized culture workshop experience The Voices survey process is designed to help us listen and respond to
to employees around the world. In 2023, Culture Champions employee feedback, enabling us to direct action to areas deemed most
facilitated 320 training sessions to more than 10,000 employees, important by employees. By including all employees — across all offices and
and introduced culture huddles to shop floor employees to promote shop floors worldwide — we have a full baseline for survey engagement.
cultural awareness and shared perspectives. More than 23,000 employees participated in our Voices survey in 2023,
representing an 84% response rate — up 5% from the previous year. Our
engagement score of 71% put us on track to achieve our target of 75%
engagement by 2025. Through this process, we are able to identify the We recently established global leads for employee experience and wellbeing,
main global drivers for employee engagement. With a focus on employee- recognizing that both of these aspects are fundamental to driving exceptional
driven business change, based on employee feedback from the Voices customer experiences. Both leads are responsible for designing and managing
survey, we are equipped to put in place activities to improve the overall innovative, high-impact employee experiences and wellbeing initiatives,
experience of our workforce. aligned with feedback from our Voices listening program.
Our inclusive culture

2023 VOICES SURVEY HIGHLIGHTS We leverage the diverse cultures and backgrounds represented within our
workforce to deliver more innovative solutions for our farmers. We actively
23,000 5%
pursue diversity, equity and inclusion (DE&I) policies and programs to
build a more diverse workforce and inclusive environment — one that
fosters a sense of belonging for all employees regardless of sex, race,
Respondents, representing an 84% Improvement in
age, sexual orientation, ethnicity, disability, gender identity and gender
response rate participation rate
expression or social origin. Our efforts bolster creativity, decision-making
year over year
and engagement, enhancing our work to deliver innovative solutions for
farmers and further empowering employees to advance and succeed, fully
88% 76% supported to do their best work. Recognizing the important role diversity
plays in sustainable innovation, we also actively promote diversity within
Employees are proud Employees would recommend AGCO the agriculture industry.
to work for AGCO as a great place to work
and/or its brands
Our DE&I aspirations Supporting our Inclusion Impact Networks

As we shift our focus to inclusion and belonging, our Employee Resource
Our success will be shaped by how well DE&I becomes embedded into Groups are being relaunched as Inclusion Impact Networks. These global,
our organizational culture and business practices. To accomplish this, employee-led groups provide support, networking opportunities and
our strategic focus centers around four foundational pillars: community for employees with similar backgrounds. They yield valuable
TALENT — Implement a robust DE&I strategy, which directly affects insights and perspectives that benefit our business strategies.
our ability to attract and retain a high-performing workforce with
the talents and skills needed to meet our vision to be the trusted
partner for industry-leading smart farming solutions OUR INCLUSION IMPACT NETWORKS
CULTURE — Cultivate an inclusive and equitable workplace culture

AGCO Women’s Network (AGWN)
where every employee is respected, feels a sense of belonging and is
Advances gender equity through the attraction, development
empowered to share their perspectives, ideas and creative solutions
and advancement of women at AGCO
MARKETPLACE — Remain competitive in our industry and exceed
New Employees Onboarding Network (NEON)
the expectations of our farmers and other stakeholders through the
Provides opportunities for networking with AGCO leaders, our
continuous development of innovative solutions, products and services
Employee Experience team and other new hires during the first
COMMUNITY — Create a positive impact across the globe by building year of employment
meaningful community partnerships with organizations that advance
AGCO Black Professionals Network (ABPN)
equity in farming, agriculture and technology
Promotes the advancement and inclusion of Black employees
at AGCO
DE&I engagement structure
EXECUTIVE INCLUSION COUNCIL GLOBAL DEI COUNCIL INCLUSION IMPACT NETWORKS

Led by the CEO with rotating membership Includes 15-20 rotating members • Focuses on impacting inclusion, belonging
from the executive level representing a variety of regions and engagement of employees
• Sets the global strategic direction for DE&I and business segments
• Globally aligned, locally organized
• Drives the integration of DE&I into • Operationalizes and scales the
business operations DE&I strategy
• Ensures accountability for achieving results • Ensures local relevance and implementation
Increasing gender equity We continued the following initiatives to

boost the representation of women in our
We are committed to increasing the number workforce and leadership in 2023:
In 2023, we sponsored a “Your Purpose” event at
of women in our global employee base, with
• Requiring diverse candidate slates for
AGRITECHNICA to highlight women in agriculture. The event
a focus on increasing female representation
among our leadership team. Our target is to
leadership positions, targeting 50% featured Sheila Zulu, Agronomy and Farm Solutions Specialist
gender diversity
achieve 25% women in leadership positions1 at AGCO, who spoke about her journey to support the
at AGCO by 2030. In 2023, we saw a small • Conducting bimonthly audits of candidate
increase in the percentage of women in recruitment and flow in the search process development and productivity of the agricultural industry in
leadership at AGCO. This is up from 17% to ensure ongoing diverse talent pipeline
development
Africa as a manager at the AGCO Future Farm in Zambia.
women in the leadership group in 2022.
• Encouraging participation in the AGCO
Global Women’s Network
TARGET: • Supporting women entering and advancing
in the manufacturing, engineering and
Achieve 25% women
supply-chain fields through our Ignite
in leadership positions by 2030 Your Impact program
PROGRESS: • Engaging in the Board of the Women in
Manufacturing Education Foundation to
19% women in leadership advance female talent industrywide
positions as of 2023
Female students meet Fendt

In June 2023, female students from the fields of mathematics, information technology and natural sciences met at
the Fendt Forum in Marktoberdorf, Germany, to attend Fendt’s fourth Female Career Day. In addition to networking
and knowledge-sharing events, the students participated in a design thinking workshop and heard about career
strategies in a panel session with six of AGCO’s female managers, followed by a keynote from our global Human
Resources representatives.
1. Defined as senior manager and above

ACCELERATING EARLY TALENT

Recruiting, retaining and
We believe that hiring talent early in their
developing top talent careers increases retention and helps us remain
We bring together the brightest minds to competitive. Our early-career recruitment
advance our purpose to deliver farmer-focused strategy includes partnering with universities to
solutions to sustainably feed our world. To create Acceleration Centers at the University
do so, we focus on recruiting and supporting of Illinois, Arizona State University and North
innovators in technology, engineering, Dakota State University. These centers support
agriculture, science and many other fields. multiyear student internships, with many interns
This work aligns with our goal to build a high- coming to work with us after graduation. We also
performance culture that delivers the machines have our business leaders engage in projects
and technologies farmers need to thrive. and curriculum at universities, furthering our
foothold with these institutions and introducing
Building a robust talent pipeline their rising graduates to AGCO and our
Our recruitment strategy reflects our commitment opportunities. We are also expanding early
to finding, engaging and retaining exceptional career development in our global locations,
individuals who align with our Cultural Beliefs. focusing on our information technology talent
We seek to create a workforce that is not only in India and offering a four-month development
highly skilled but also reflective of the global program for university graduates who are ready
communities we serve. In 2023, we began aligning to begin their professional careers. PROVIDING HANDS-ON EXPERIENCES to expand various educational programs
our talent acquisition function globally so we THROUGH APPRENTICESHIPS and working life projects. AGCO Power hosts
PROMOTING DIVERSE RECRUITMENT students from Tampere University of Applied
can maximize our ability to source and acquire In Marktoberdorf, Germany, Fendt offers a
talent, helping us to differentiate our company Our scholarship program with the AGCO Sciences to its robotics training environment
range of apprenticeship programs that enable
and workplace in a competitive global market. Agriculture Foundation is tailored to students in Linnavuori. In addition, each brand has
students to alternate between their studies and
We executed strategic workforce planning from underrepresented groups who have apprenticeships at local vocational schools.
apprenticeship time at the company. During
efforts to map recruitment objectives and better expressed an interest in science, technology, their three-to-four-year programs, apprentices PLANNING FOR CURRENT TALENT
understand the capabilities needed to fulfill our engineering, mathematics (STEM) and gain a 360-degree view of a variety of business
talent goals. This approach will empower us to agriculture. Beginning in 2022, the Foundation We not only look to identify our high-potential
areas, including manufacturing, warehouse
develop strategies that ensure we have the right is granting $80,000 annually for three years to leaders, but we also identify our high-potential
logistics and the materials laboratory.
people with the right skills in the right roles at the fund internships and scholarship opportunities experts, as we know these individuals — with
Additionally, we partner with the University of
right time. Key initiatives include: and support AGCO in hiring talent from their unique set of skills — are critical to meeting
Applied Sciences Kempten to provide ongoing
underrepresented groups. The program provides our business objectives. Quarterly, our Senior
internship programs for students in STEM areas.
selected students with opportunities to intern Leadership Team meetings review our talent
at AGCO as well as scholarships of $2,000 To reach students in Finland, Valtra organized plans, including succession plans, to ensure we
or $4,000 per year and attendance at the a student day in 2023, which was attended by provide the right experiences and development
Minorities in Agriculture, Natural Resources, and more than 800 students. Valtra also partners to prepare these individuals for the future.
Related Sciences annual conference in the U.S. with Jyväskylä University of Applied Sciences
Developing our talent

2023 DEVELOPMENT AND RETENTION HIGHLIGHTS
We are dedicated to cultivating dynamic and skilled leaders who can tackle the challenges of a
rapidly evolving global marketplace. We offer several development opportunities that align with
this goal, including:
371,000 64%
Hours of learning completed through Leaders who completed leadership skill-building
our LMS1 series, surpassing a 40% goal
Leadership Excellence Acceleration Program CATALYST is an early-career, new-hire rotational
(LEAP) provides managers and leaders the program that works to develop high-potential
opportunity to build competencies and prepare
for career growth. It includes five core programs:
talent. New high-potential employees rotate
through a number of business areas to ensure
well-rounded exposure and overall development.
1,700+ 600+ 42
Participants in leadership Participants in LEAP New participants
• Accelerate Your Impact After completing this rotation, employees use skill-building series enrolled in CATALYST
for high-potential talent their experience to make a significant impact in
• Leadership Essentials a dedicated role.
for first-time managers
In 2023, 12 employees started in the CATALYST
• Driving Results Through Leadership
program in January as part of our data science,
for team managers
design engineering, precision farming specialist In 2023, employees completed 371,000 hours of learning through AGCO’s
• Becoming a Strategic Leader and customer support functions. Another learning management system (LMS), which provides a variety of online
for senior leaders 15 employees started in 2023 in our data and instructor-led trainings. We also implemented quarterly connection
• Executive Acceleration science, customer support, design engineering, conversations between employees and managers to positively impact
for executive succession information technology and software engineering communications and enhance employee development and retention.
functions. In 2023, the program experienced a Additionally, we introduced a leadership skill-building series focused on
These programs consist of 70% on-the-job
100% retention rate. Fifteen employees completed areas of interest identified by our employee engagement survey. These
experience, 20% learning from others and 10%
our condensed (16 week) CATALYST program areas include compensation and performance evaluation. We were
structured learning. Programs range in length,
in India. excited to see participation from more than 1,700 leaders in 2023.
offering both online and in-person components.
We were encouraged to see 22% of our leaders To ensure that employee training programs are effective and relevant,
— more than 600 people managers — participate we evaluate training using up to four criteria: user reaction (all training),
in LEAP programs in 2023. Approximately 90% of learning retention, manager feedback and return on investment (certain
those who took part successfully completed the programs only). The findings of our evaluations help us develop our
program before the end of the year. Participation offerings further and adjust programs to ensure maximum satisfaction.
of female employees in LEAP also increased to
30% in 2023, and we expanded the program in
all four regions worldwide.
1. These hours represent only the training that was registered in and conducted through the central LMS. Employees in scope are full-time and
white-collar staff and the leadership group. Local trainings and trainings outside the LMS were not tracked.
Health, safety and wellbeing

We are steadfast in our commitment to foster a culture that puts our Our proactive safety
employees’ health, safety and wellbeing first. To ensure consistency culture in action
and accountability, we have standardized our approaches to health Safety at AGCO focuses on prevention
and safety across our enterprise. We have also taken steps toward through diligence, shared accountability
and proactive emergency preparedness.
full enterprise safety reporting and put more than 80 Sustainability In 2023, our preparedness paid off
Tracking and Reporting (STAR) Leads in place to facilitate this. Our when colleagues in our Jackson (U.S.),
Bremen (U.S.) and Canoas (Brazil)
standards for these areas are high, and we continually evaluate our locations each suffered emergency
protocols and programs to enhance performance. heart conditions. Timely responses
from our trained emergency response
teams and medical staff and previous
Embedding a culture of safety implementation of an automatic
external defribrillator (AED) program
We have transitioned from thinking of safety as a standalone program to making it a priority ingrained in our culture.
played a key role in saving their lives.
Over the years, we have made progress embedding safety throughout our organization, from the Board level to
We know that emergency preparedness
the shop floor. We provide training and resources to educate managers and employees on health and safety best
procedure and training is crucial to
practices and have introduced safety leadership at the global, regional and site levels. Our goal is to empower
ensure safety and business continuity,
everyone that works at AGCO to reinforce safe behaviors and proactively recognize and mitigate workplace risks.
and it will continue to be a focus of our
safety culture moving forward.
“ We make a choice every day to focus on behavior and

culture as the foundation of our safety program to
ensure every team member feels empowered to prioritize
the health, safety and wellbeing of the team.”
—Pramod Palat, Director, Safety and Environmental Health, AGCO
Our global safety strategy
Drive improvement through behavior and culture Reduce high-frequency injuries Reduce high severity risk
Culture and mindset are critical when it comes to safety, and they are Hand injuries and ergonomic hazards are our leading sources of injury, Complex manufacturing environments often require some high-risk
key factors in our zero-incident mindset approach. so we have developed a structured plan to address them. activities. To proactively manage these risks, we are building our safety
capacity and putting the best possible controls in place.
KEY INITIATIVES: KEY INITIATIVES: KEY INITIATIVES:

• We have developed behavior-based safety training that defines • We are developing a hand-injuries prevention toolkit, which helps us • We are partnering with industry experts to build capabilities within
the roles and responsibilities of leadership teams when modeling analyze the hand-related risks and address root causes of hand-related our manufacturing sites for enhanced safety control measures and
safe behaviors at their sites. injuries at our global facilities. long-term sustainability.
• In 2023, we developed a Safety Balanced Scorecard of both • We are introducing the VelocityEHS® Ergonomics program, to address • We have identified several focus areas, including machinery safety,
lagging and leading indicators. Many operations have already ergonomics risk across all our manufacturing facilities in 2024. working at heights, electrical safety, forklift trucks and pedestrian safety,
put them into action. product test safety and safety when working with hoists and cranes.
• We partnered with DuPont Safety Solutions in 2023 to undergo a • We are introducing several types of employee coaching, mentoring and
safety perception survey in North America, allowing us to benchmark restricted work for new hires. For example, all new hires in our Beauvais,
and elevate our safety culture. Moving forward, we will use this pilot France, factory are allowed to perform only ‘low-risk’ work when they
as a blueprint for how we change employee behavior, with similar begin. As they demonstrate good safety practices and get acclimated
programs planned for our South America and Europe and Middle to the factory environment, they can gradually progress into more
East (EME) regions in 2024. challenging work processes.
Improving our safety performance Strong safety performance across

Our aspiration of zero injuries requires every employee to take ownership of
our safety culture. With that in mind, we actively promote a zero-incident
our global operations
mindset across all levels of our organization. Our safety record continues to Our South America region has witnessed significant improvements
improve at a significant rate as we expand our initiatives and build a strong in overall safety performance, driven by enhanced collaboration
foundation. By expanding our implementation worldwide to include all among all the factories and supporting functions. Their history of a
workers, we ensure that a common shared vision and standard improvement strong central approach in managing different parts of the business
methodologies are rolled out. helped support our rollout of safety initiatives across the operations.
Our EME region also has strong safety performance built on the
In 2023, our Total Case Incident Rate (TCIR) was a record 1.86, making it
adoption of several International Organization for Standardization
the third year in a row we achieved double-digit improvement, reflecting 15%
(ISO) certifications.
improvement year over year. We have set an aggressive safety performance
target to achieve a TCIR rate below 1.5 by the end of 2025.
As we progress toward this target, we have undertaken several targeted

safety measures, including: As we advance toward meeting our TCIR target, we have redefined our
• Instituting a 24-hour incident reporting system that notifies environment, 2024 safety priorities. Developing and implementing improvement plans
health and safety (EHS) leadership any time an employee is injured on specifically focused on our top injury-contributing sites is a key focus. The
the job. We use insights from these incidents to enhance safety practices improvement plans include implementing a new governance structure, led
and prevent similar occurrences from happening. by our manufacturing and business leaders and overseen by our Global EHS
lead, to ensure our top injury-contributing sites make progress and receive
• Implementing a Behavior-Based Safety management program
the correct support. Sites will be internally audited to address further
leveraging expertise from DSS+11 consulting that focuses on observing
improvement opportunities.
and modifying employee behaviors to reduce accidents and improve
safety outcomes. Optimizing health and safety management
• Introducing a Global Safety Leadership Framework that ensures We view ISO 45001 certification as a key means of defining and ensuring
dedicated safety leadership at the global, regional and site levels. effective safety procedures, systems and management protocols. We
• Improving our capacity for knowledge sharing by establishing a global continue to embed ISO 45001 certification across our enterprise, with 38%
space where employees can share lessons learned across the organization. of our manufacturing sites achieving the certification as of 2023. We also
leverage AGCO STAR, our sustainability tracking and reporting tool, to
continually strengthen our global environmental, social and governance
measurement and data collection processes.
Learn more about how we
are using AGCO STAR to
enhance and streamline our
safety and sustainability
data tracking and reporting.
11. Spin-off of DuPont Sustainable Solutions

Advancing employee wellbeing

We aim to create a culture where employee health and wellbeing sit at the center of the employee experience.
Our approach is holistic, encompassing five wellness pillars:
Physical wellbeing Mental fitness Financial security Social connection Work life
Within these pillars, we offer several programs to help our Launching global mental health service providers so all
employees maintain their overall wellbeing. Examples of our employees can gain access to emotional and mental health
programming in 2023 include: resources and services.
Partnering with Premise Health in the U.S. to provide on-site Planning a global rewards and recognition program to further
health and wellbeing services to employees and their families. These our commitment to delivering an exceptional experience across the
services include primary care clinics, access to on-site pharmacies, employee lifecycle. With a vendor identified late in 2023, plans are
occupational health services, access to on-site therapists and well underway for a global launch in 2024.
behavioral health, wellbeing coaches and enhanced options for
virtual care.
Expanding our partnership with International SOS clinical

services to audit our services outside the U.S., which we will use to
develop a global strategy for on-site health and wellbeing care,
services and education.
Learn about our

approach to
customer safety.
Making a positive community impact

We strive to make a positive and lasting impact on the communities where
we operate and the many farming communities we serve. We invest in
initiatives that empower and support sustainable practices and build
partnerships that drive positive change. It is a global endeavor and one
we are proud to undertake.
Investing in farming communities with the AGCO Agriculture Foundation Within these pillars, the Foundation supported the following initiatives in 2023:
The AGCO Agriculture Foundation is focused on impact-driven agricultural initiatives that transform lives in farming Supporting diverse farmers with the Providence Farm Collective (PFC)
communities around the world. It addresses the needs of farmers and farming communities through investments in The Foundation awarded a $50,000 grant to PFC, a nonprofit that supports refugee, immigrant, Black
farmer-focused initiatives We see farmers as equal partners in our common goal to help secure the global food supply and low-income farmers in Western New York. PFC will leverage the funding to implement a compost-
— both for communities today and for future generations. In 2023, the Foundation refined its grant application to generation system at its 37-acre farm in Orchard Park, New York, to support its 275 farmers from nine
further support our farmer-focused strategy. refugee, immigrant and Black ethnic communities and to optimize post-harvest efficiency and food safety
on site. Overall, the project aims to increase food production and boost income for PFC’s diverse farmers
The Foundation’s Employee Advisory Board (EAB) helps guide its resources and strengthen its relationship with by enabling safe, sustainable agricultural practices and enhanced soil fertility via the on-site generation
employees and communities. Composed of employee volunteers from all AGCO regions, the EAB supports and monitors of well-balanced compost. More than the on-ground impacts of our funding support, we are proud
the Foundation’s initiatives and facilitates employee engagement sessions to generate project awareness and support. The to share that PFC won the Edible Communities 2023 Sustainability Award and the Western New York
EAB also coordinated and implemented a new process that enables our employees to nominate causes for donations Sustainable Business Roundtable Community Impact and Sustainability Work Awards.
from within their regions.
Uplifting Brazilian cashew farms
The Foundation's strategic pillars include: Through a $50,000 grant to Amigos do Bem, the Foundation is supporting the Cashew Project: Transformation
Seedlings, which aims to generate work and income for small cashew farmers in the northeast dryland of Brazil.
The funding will be used to purchase and distribute 30,000 fruit tree seedlings, fertilizers and farming kits and
to provide training, technical support and continuous farm monitoring. The initiative will support 100 families
— reaching more than 500 people — while neutralizing approximately 500 tons of CO2 per year with the
planting of cashew trees.
Nutrition and Community
sustainable food Furthering farm discovery
Agricultural development of our
systems, including food With a $100,000 grant to the U.K. nonprofit The Country Trust, the Foundation is supporting the
education, research farming communities
security, animal welfare expansion of its farm discovery program. The Country Trust is a leading U.K. education charity, connecting
and innovation and AGCO home
and climate action disadvantaged children with farming. The grant will enhance the growth of the farm discovery program
communities
and enable thousands of children to explore working farms. The funding will support the delivery of an
additional 70 Farm Discovery visits for more than 1,800 children and support 70 teachers to sustain the
impact of the Farm Discovery program.
Promoting sustainable dairy farming Addressing food security and climate change with FareShare
Dairy farming generates both income and nutritional security for many The Foundation has provided a $300,000, two-year grant to support a
rural people in Nepal. The country has many cattle and buffalo with low project spearheaded by U.K. nonprofit FareShare. The Surplus with Purpose Providing nutrition to families
productivity and a high carbon footprint. To help address this issue, the initiative aims to combat food waste and secure the food needed to provide in conflict zones of Ukraine
Foundation invested $250,000 as part of a two-year partnership with 1 million meals to those in need while bolstering climate mitigation efforts.
Heifer Netherlands. The project provides outreach to dairy farmers in Nepal For every ton of surplus food redistributed, Surplus with Purpose avoids The Foundation assists farmers and farming communities during
to help them adopt feed management and animal husbandry systems up to 1.6 tons of embedded CO2, with an additional 3.8 tons prevented disasters and emergencies, providing resources and support
that reduce livestock emissions. These interventions empower farmers to by avoiding harmful methods of disposal. In 2023, FareShare distributed to help them recover and rebuild. We have collaborated with
improve productivity, enhance carbon sequestration and generate biogas 57,800 tons of food, enough for 137 million meals, to 8,445 charities and nonprofit organizations on a local and global scale since the
(a form of clean energy) and organic fertilizer, as well as establishing a community groups across the U.K. Ukraine conflict in early 2022 to provide food aid to Ukrainians
fodder nursery using cow dung seedling pots made of manure, soil and husk. and to ensure that farmers have access to the necessary
The Foundation’s funding will directly support 100 dairy farm households, Funding farming research production resources (seed inputs) to sustain food production.
while providing benefits to many other stakeholders. With an eye toward advancing agricultural research and innovation, the In 2023, we provided a $50,000 grant to the MHP-Gromadi
Foundation provided a three-year, CHF 195,000 grant to the Research Unit Charitable Foundation to support its initiative of providing much-
of Plant Production and Biodiversity at Bern University of Applied Sciences needed nutrition to people in the conflict zones of Ukraine.
in Switzerland. The research focuses on leveraging noncontact weed control
methods in combination with small robots to prevent soil compaction, The organization delivered high-quality food to Ukrainian infants
minimize weed emergence and promote sustainable crop production. Since and distributed canned ready-to-eat poultry meat to internally
the start of the project, four students have been involved in the project, with displaced people in Ukraine. With the Foundation’s donation,
their thesis focused on the software and hardware components of the open MHP-Gromadi Charitable Foundation delivered 13,000 jars of early
field automation equipment. childhood nutrition to families and distributed an additional 70 tons
of canned ready-to-eat poultry meat. The benefits this funding
Transforming African agriculture through youth is providing are reward enough; however, we are proud to share
upskilling and training that the UN Global Compact Network Ukraine recognized MHP-
The Foundation committed $250,000 to implement the second cohort of Gromadi Charitable Foundation and our Foundation for outstanding
the Africa Agribusiness Qualification (AAQ) program in South Africa as work supplying humanitarian aid kits and early childhood nutrition
a means to address the skills gap and empower emerging young leaders in to internally displaced people in Ukraine and the project won the
agriculture. The 12-month AAQ program was designed to empower delegates UN Global Compact Network Ukraine Partnership of Sustainability
with technical and sales skills, knowledge, training and opportunities to Award in 2023 in the category “People.”
create a robust agribusiness sector for Africa. With technical support and
implementation by AGCO Africa, AAQ was delivered through the Gordon
Institute of Business Science, Harper Adams University and Cerealis Precision.
Seventeen delegates graduated with a National Qualifications Framework
level 4 certification in 2023.
Visit AGCO Agriculture

Foundation to learn more.
Making a difference across our regions and brands
For World Egg Day, our Grain & Protein Greater AGWN Malaysia organized a Charity Day at Our Breganze, Italy, team held two fundraising Colleagues in Imola, Breganze and Ronchi di
Asia team in Penang, Malaysia, donated 172 PERTUBUHAN BAKTI YONG AI, a nonprofit events in support of the City of Hope (Città Villafranca, Italy, teamed up to donate supplies
trays of eggs to Kechara Food Bank Penang. organization that adopts orphans and takes della Speranza) Foundation, including an Easter and funds after devastating floods in Imola
This initiative has a dual impact of boosting the care of children from single-parent households. market and a Christmas event. They raised more affected homes and nearby towns. The Cimbria
community’s economy and touching the lives In addition to raising money to support the home than $10,000 for the pediatric cancer nonprofit. site itself was not impacted and donated
of those who need it most. and provide school supplies for the 11 children essential cleaning supplies to a nonprofit
living there, the AGWN members also played Associazione No Sprechi (No Waste Association).
games and shared meals together.
The Batavia, Illinois, U.S., chapter of AGWN AGCO dealers across Georgia partnered with The Cimbria team in Nairobi, Kenya, spent AGCO has sponsored the PROSPERA program
(AGCO Global Women’s Network) raised a Georgia 4-H and University of Georgia Extension a half-day at the ST. PAUL Children’s Home, in Brazil since 2021. This program helped small
total of $13,000 across three fundraisers toward to host, provide equipment for and serve as title donating necessities to improve the children’s and medium-sized rural producers increase their
scholarships for local college-bound agricultural sponsors for the Gearing Up for Safety Program. quality of life. The volunteers also participated corn production, thereby contributing to the
students. Hundreds of Batavia employees took This continuous education program will improve in fun activities to bring a smile and hope to improvement of their families’ living conditions
part in the events, which fund scholarships in safety, awareness and education for youth and the 48 children living there. and their communities. Massey Ferguson,
partnership with the Kane County Farm Bureau. adults around the state during the 2023-2024 Corteva and Yara are all part of the program.
school year.
Governance
We are committed to strong corporate governance to
deliver stakeholder benefits over the long term. Our robust
environmental, social and governance (ESG) structure
helps to ensure that we act with integrity in all we do.
IN THIS SECTION:
63 Leading with accountability
66 Managing enterprise risks
67 Sourcing responsibly
69 Ensuring ethics and compliance
70 Prioritizing cybersecurity and data privacy
“ L eading with accountability is critical to the success of our ESG

program. Our governance approach sets high standards for our
company, guides us to act ethically and with integrity, encourages
engagement at all levels within AGCO and, ultimately, helps
accelerate long-term value creation.”
—Roger Batkin, Senior Vice President, General Counsel, Chief ESG Officer and Corporate Secretary, AGCO
Leading with accountability

Strong governance and accountability are essential to our The Board’s Sustainability Committee oversees Executive-level responsibility for ESG
the company’s ESG strategy, policies, goals
long-term success. By creating sustainable value for our and risks. The Committee includes three Board Individual responsibilities
company and shareholders, we are growing our business the members who meet three times annually and • Senior Vice President, General Counsel and Chief ESG Officer holds
who are responsible for the following duties: executive-level responsibility for ESG topics and attends all meetings
right way. Our sustainability governance structure is built on of the Sustainability Committee and Board, reporting directly to our
• Considering and providing input to
the principles of integrity, accountability, transparency and management and the Board on the company’s
Chief Executive Officer (CEO) with reporting responsibility to the Board.
responsibility. The structure promotes engagement from our policies, strategies and practices related to • Chief Financial Officer (CFO) holds executive-level responsibility for
economic topics and our overall enterprise risk management process,
environmental matters — namely climate
Board of Directors around key ESG issues and ensures that the change, greenhouse gas (GHG) emissions, reporting directly to our CEO with reporting responsibility to the Board.
Board can effectively oversee sustainability-related planning natural resource management, waste and • Head of Internal Audit is responsible for monitoring and auditing our
environmental opportunities operational risk management performance, reporting functionally to
activities and decisions. • Reviewing the company’s policies, strategies the Audit Committee and administratively to the CFO.
and practices related to workplace safety
and human rights
Global Compact Membership
• Considering and providing input to
management on environmental, climate and AGCO has become a member of the UN Global Compact, the world’s largest
sustainability trends in public debate, public corporate sustainability initiative that promotes four core principles: human
policy, regulation and legislation rights, labor standards, environmental responsibility and anti-corruption.
• Reviewing the company’s shareholder Through our membership, we made a commitment to actively contribute to
engagement program and investor sentiment these global goals and further embed them into our business strategy, culture
related to our environmental and social and day-to-day operations.
footprint and activities and providing
feedback on the company’s public reporting
and disclosure on sustainability topics
The full Board of Directors receives a sustainability

In addition to their listed duties, AGCO’s CEO,
update at one Board meeting annually. General Counsel/Chief ESG Officer and CFO
formally review and approve our public reporting
to ensure all material topics are reflected.
Functional responsibilities OUR SUSTAINABILITY GOVERNANCE STRUCTURE AT-A-GLANCE

• Sustainability Council is made up of senior leadership team members and drives the implementation of sustainability
policies and initiatives across significant businesses, locations and functions. Board of Directors
Oversees, monitors, guides
• Sustainability Core Team directs the implementation of Sustainability Council decisions and oversees the execution of
sustainability initiatives and programs.
• Strategy work streams lead the execution of initiatives intended to meet our sustainability commitments. SUSTAINABILITY COMMITTEE AUDIT COMMITTEE
Reviews key social and environmental Reviews risk assessment policies as well
• Green Leaders champion sustainability, drive knowledge and encourage the sharing of best practices across our
sustainability initiatives as ethics and compliance program
manufacturing operations.
Senior Leadership
Sets strategy and approves targets
SUSTAINABILITY COUNCIL RISK COMMITTEE

Visit AGCO’s website Decides on initiatives and sustainability Responsible for enterprise risk
priorities and sets operational targets management process
to learn more about
our sustainability
governance approach.
CORPORATE SUSTAINABILITY TEAM

Orchestrates, embeds, analyses, reports
SUSTAINABILITY CORE TEAM

Supports, guides, measures performance
SUSTAINABILITY WORKSTREAM TEAMS

Strategizes, drive initiatives, provides insights
BRANDS AND FUNCTIONS

Plans, executes
Board composition HIGHLIGHTS

Our Board leverages a mix of expertise, experiences and backgrounds to
enhance stakeholder value, guide our Farmer-First strategy and oversee our
sustainability progress. The composition of our Board involves a strategic
blend of diverse expertise, including traditional business acumen combined
10 8 30% 30% ~5 years
with a solid understanding of the ESG factors impacting our business. This Total directors Independent directors Women Ethnically diverse Average Board member tenure
ensures a holistic and informed decision-making process that aligns our
corporate goals with long-term environmental and social wellbeing, driving
meaningful change from the top down.
Driving positive change through public

policy engagement
Through our membership in trade groups and associations, we amplify our
impact on key sustainability issues and take a leadership role in moving
the agriculture industry toward sustainable solutions. For example, in our
partnership with the European Agricultural Machinery Association, we are
focused on advancing products and services that enable customers to
implement policies around sustainable farming practices while maintaining
food security for a growing global population. We also partner with the
Association of Equipment Manufacturers to support industry activities that
reduce the carbon footprint of agricultural equipment.
We leverage our membership and active engagement with trade

associations and organizations around the globe to promote public policy
positions that support innovative, market-based solutions and technologies
to address some of the world’s most challenging issues. Our focus is on
implementation of policies that enable adoption of sustainable farming
practices that utilize climate smart, clean energy solutions that support
both protecting our environment and providing food security. We also
engage with associations to participate in the development and adoption
of industry standards and to support education and promotion of smart
manufacturing and business policies.
Managing enterprise risks

Our enterprise risk assessment (ERA) process focuses on identifying, Sustainability tracking and reporting
defining and monitoring risks and trends that impact shareholder value Our ESG data management has robust processes, controls, policies and systems in place to enhance environmental
over the long term. Through this ongoing process, we identify and data management and reporting. And to ensure data quality, we leverage AGCO STAR, our sustainability tracking
and reporting tool, to track ESG data from our sites, including energy, waste and water, as well as health- and
regularly review material risks and trends — for our company, our farmers safety-related data. The data is used to inform energy-efficiency and conservation measures, set and track progress
and our industry — and develop and implement countermeasures to targets and aid in strategic decisions. We also manage corporate ESG activities through AGCO STAR, including
tracking climate risks, performing GHG and total case incident rate calculations and supporting external ESG
designed to reduce these risks to an acceptable level. Our executive reporting. A new Incident Management module was implemented in 2023, which will be used to streamline
incident reporting, investigation and root cause analysis. Additionally, we use the EcoVadis platform to embed
leadership team manages these risks with oversight from the Board ESG considerations into our management of suppliers and commodities.
of Directors and its Audit Committee. We review our enterprise risks
regularly to ensure effectiveness and update our central risk register
periodically at least semi-annually. As part of this process, the executive Across our enterprise, we enlist employees as AGCO STAR Leads to
leadership team participates in surveys and interviews and confirms risks champion the program and manage their sites’ environmental and
and mitigating activities in their respective areas. The final results are health and safety data and reporting, with more than 200 STAR Leads
validated and presented to the Audit Committee. using the program across 115 sites in 2023.
Current risks associated with strategic, operational, financial and compliance areas that
are covered through our ERA include (but are not limited to):
• Competitive market dynamics, including • Major Project Execution
sustainability-related risks such as • Operations Management and Technology
environmental impacts and climate change
• Human Capital
• Supply chain management
• Legal and Regulatory
• Product and customer management
Furthermore, we have aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework,
leveraging scenario analysis to harness a deeper understanding of our climate-related risks, which is outlined
in our 2021 TCFD report and our 2023 TCFD index.
Sourcing responsibly Managing risk in our supply chain

A strategic priority of our purchasing strategy is to embed sustainability
In addition to the EcoVadis ESG assessment, we take further steps to
analyze and monitor both financial viability and event-based supply risks
such as pandemic outbreaks, geopolitical unrest, logistics performance,
We invest in supplier relationships built on and ESG criteria into our purchasing decisions and our management natural hazards, labor and human rights and environmental risks,
of suppliers and commodities. In this regard, we employ the EcoVadis across our supplier network, aimed to reduce the chances of supply-
integrity and trust. We view responsible sourcing platform to assess our suppliers’ performance, based on their management chain disruption and improve resiliency. As part of this effort, we have
— including mitigating environmental impacts processes, policies and data related to: established new sourcing principles for critical components, including
dual sourcing and a risk-based, country-specific sourcing approach. In
and supply chain risks — as a fundamental • Energy and climate the past, our supplier selection has largely been based on commercial
component of ESG and business success. Our • Human rights and labor considerations. Now we are looking to strategically work with suppliers
• Ethics to generate closer, trusting and long-lasting business relationships that
goal is to ensure our procurement and supply • Sustainable procurement practices and other ESG-related issues
lead to improved sustainability and innovation. Other actions we take to
manage critical materials in our supply chain include:
chain processes align with our broader ESG The EcoVadis assessment process involves gathering, validating and scoring
objectives so that, together with our suppliers, supplier data on its platform. We use this data to support our development of
• Track tier 1 direct material suppliers and some indirect material suppliers
via real-time risk management software
supplier-engagement strategies, formulate and track supplier ESG targets and
we can collaborate to achieve mutual progress. facilitate corrective actions for suppliers that fall short of our expectations. We • Optimize supply base network
are currently using EcoVadis to score our 500 largest tier 1 suppliers by spend • Design change collaboration through AGCO’s Supplier Idea
and plan to expand the effort to other tier 1 suppliers in the coming years. Generation program
The supplier data we have collected so far has allowed us to establish an ESG • Implement strategic pricing strategies and contract management
performance baseline, which indicates that our supplier base outperforms • Conduct regular supplier audits of new and existing suppliers via our
EcoVadis benchmark scores in overall performance and the four categories of supplier quality organization
Environment, Labor and Human Rights, Ethics and Sustainable Procurement. • Establish supply continuity teams
The insights gained through the EcoVadis platform are being utilized to identify • Refresh commodity — category strategies
best practices that can be shared to improve performance, to identify critical
• Ensure material requirements confirmation to improve planning
gaps and current and future risks to our supply chain, as well as to define
development plans to ensure supply chain stability and compliance. We also As we continue to build greater resilience into our supply chain, proactive
hold various supplier events at which we emphasize the growing importance of preparation is key. We maintain readiness to respond to unexpected crises
sustainability to our purchasing strategy and present an annual sustainability with preplanned mitigations. We also remain focused on early-warning
award to a supplier that merits recognition. monitoring and emergency disruption responses and processes.
Together with our partner Assent, we engage our supply chain regarding
Upholding human rights Responsibly sourcing conflict minerals REACH and SCIP compliance. In 2023, we focused on our main
Driven by our purpose to help farmers sustainably feed the world, we Our commitment to responsible sourcing extends to conflict minerals, as manufacturing sites in the Europe and Middle East (EME) region and
are committed to respecting human rights in all aspects of our global outlined in our Conflict Minerals Policy. Our Conflict Minerals program contacted more than 1,000 suppliers to collect information. In January
operations. Responsible supply chains must respect people’s dignity and conforms with the framework established by the OECD Due Diligence 2024, we submitted our SCIP report for tractors manufactured in the
rights and support livelihoods. By holding ourselves to the highest standards Guidance for Responsible Supply Chains of Minerals from Conflict-Affected EME region. In the coming years, we will continue to roll out our system to
of responsible and ethical conduct — and partnering with suppliers who and High-Risk Areas, Third Edition. We use the Conflict Minerals Reporting collect proof of compliance from our suppliers and maintain an inventory
do the same — we aim to uphold this belief while minimizing risks. We Template developed by the Responsible Minerals Initiative (RMI) to identify of product parts that fall within the scope of these regulations.
inform and guide our actions by the principles put forth by the following smelters and refiners in the supply chain. In May 2023, we filed a Conflict
The German Act on Due Diligence Obligations in Supply Chains that went
international standards: Minerals Report with the Securities and Exchange Commission.
into effect January 1, 2023, requires German enterprises to take responsibility
• The U.N. Declaration of Human Rights We engage with our suppliers annually to determine the origins of tin, for human rights and environmental impacts in global supply chains. The Act
• The U.N. Guiding Principles on Business and Human Rights tungsten, tantalum and gold in our products, with the outreach extending requires companies to analyze specific risk categories such as preventing
through as many as 10 tiers of our supply chain. Supplier submissions are child labor, the right to fair wages and environmental protection. The purpose
• The International Labour Organization’s Fundamental Conventions
evaluated against data from the RMI. is to identify and mitigate risks that could potentially lead to human rights
• The Organisation for Economic Co-operation and Development violations or environmental degradation.
(OECD) guidelines for multinational enterprises We are a member of the RMI, which promotes the use of certified smelters,
as well as its Smelter Engagement team. The team focuses on contacting We carried out a risk analysis for AGCO GmbH and its affiliated companies
Our Supplier Code of Conduct sets our expectations for supplier partners. smelters to encourage them to become certified. These activities reinforce in Finland and Italy in 2023 in accordance with the requirements of the Act.
This includes our requirements that suppliers comply with all relevant our aim to promote supply chain best practices and mitigate risks. Firstly, we analyzed potential risks for our suppliers based on their country and
legislation, regulations and directives and respect the human rights of industry risk profiles. The results helped us prioritize which suppliers to engage
their employees, as well as those in the communities in which they operate. with and carry out a risk assessment. This included, among other things an
Suppliers must prohibit the use of forced labor and child labor and respect Adhering to the supply chain regulations assessment using Ecovadis that resulted in an action plan for suppliers with
labor rights including nondiscrimination, nonharassment and the right to identified risks.
We comply with all applicable supply chain regulations. This includes the
collective bargaining.
following legislation, aimed at improving the protection of human health We are implementing appropriate measures to mitigate risks. A core element
In 2023, we completed a detailed risk assessment to determine human and the environment from the risks posed by hazardous substances: is our Supplier Code of Conduct that we have adapted to focus more on the
rights risks related to key commodities, categories and regions. We also risk categories of the Act, and we require our suppliers to act accordingly.
• European Union (EU) Registration, Evaluation, Authorization and
reviewed our Supplier Code of Conduct, governance and complaints Existing preventive measures will be improved continuously and more will be
Restriction of Chemicals Regulations (REACH)
processes to ensure they comply with industry best practice and evolving added in the coming years.
legislation, and will publish an updated version in 2024. • EU Restriction of Hazardous Substances Directive (EU RoHS)
• EU Waste Framework Directive (SCIP) The process of the risk analysis is anchored in our integrated management
system. We will continually expand the scope of our supplier base for the risk
• Toxic Substances Control Act (TSCA)
analysis beyond the requirements of the German Supply Chain Act, also to be
• Resource Conservation and Recovery Act (RCRA) prepared for the upcoming Corporate Sustainability Due Diligence Directive.
• U.S. state-level regulations pertaining to hazardous substances such as
California Proposition 65
Ensuring ethics and compliance Anti-corruption and

whistleblowing
We adhere to the highest standards of ethical conduct and We promote an open-door environment and
responsible corporate governance. We value the integrity of an anti-retaliatory culture that encourages
transparent dialogue across our workforce.
our employees, managers, officers and Board. Our policies and We encourage employees to report any concerns
employee training provide a framework to guide employees of violations of our Global Code of Conduct,
policies or the law — including actual, potential
in adhering to ethical, responsible behavior. This extends to or perceived wrongdoing. All white-collar workers
ensuring full disclosure concerning our activities and policies. globally are trained on anti-corruption issues,
including our management. Our culture of Speak
We are committed to complying with all applicable laws and regulations. The Audit Committee is Up facilitates the reporting of employee concerns.
responsible for overseeing our compliance programs and our procedures for the receipt, retention They can do so anonymously and confidentially
and treatment of complaints and concerns regarding: using the AGCO Alertline, which is also open to
our contractors, vendors and customers. We will not
• Accounting and internal accounting controls tolerate retaliation against anyone for reporting or
• Auditing and related matters providing information that they reasonably believe
• Confidential, anonymous submissions of employee or third-party concerns through the AGCO Alertline relates to a violation of law, the Global Code of
Conduct or our policies. Retaliation is grounds for
We share our corporate governance-related standards, policies and other information on our disciplinary action, up to and including dismissal.
website, including: In 2023, we had 166 total reports to the Alertline,
Refreshing our Global Code of Conduct of which 102 were closed by the end of the year.
• Our Corporate Governance Principles, which provide the
Our farmer-focused strategy extends to the most elemental level framework for the company’s governance are annually
84%
of how we conduct ourselves daily on the job. This philosophy was reviewed by the Board
the driver of a refresh to our Global Code of Conduct during 2023, • Charters guiding the Audit, Talent and Compensation,
which had an 84% completion rate for those who took the training. Executive, Finance and Governance Committees
Completion rate of our
Among the enhancements are an opening message from our CEO
Global Code of Conduct • Our Global Code of Conduct, which guides our behavior in
who sets the tone for our shared commitment and expectations Governance policies that guide our
training in 2023* the workplace — revised in 2023 to align more closely with
for always doing what is right. The refreshed Code also includes behavior and business practices include:
our strategy, including an expanded workplace safety topic
more robust guidance around such current issues as workplace Conflict Minerals Policy
to address health and safety and a dedicated section to
harassment, alcohol/substance abuse, human rights, corporate social
*White collar workers human rights, among other changes Environment and Climate Change Policy
responsibility, data safeguarding and social media. In short, our
Global Code of Conduct is aligned with today’s business realities Global Code of Conduct
so that our colleagues can navigate everyday workplace challenges Health and Safety Policy
with the highest regard for ethics and integrity. Human Rights Policy
Supplier Code of Conduct
Leveraging cybersecurity
Prioritizing cybersecurity and Building employee
awareness oversight
data privacy We conduct annual cybersecurity awareness
training for our employees and targeted training
As part of its risk oversight role, our Audit
Committee oversees cyber risk, information
for high-risk functions. We also conduct phishing security and technology risk, including
We have an ERA process that specifically addresses risks associated with exercises and correlated education with our management’s actions to identify, assess, mitigate
cybersecurity. Additionally, we have a crisis management plan that outlines employees. In 2023, these included: and remediate material cybersecurity issues
and risks. The Audit Committee receives regular
the structure, roles, responsibilities and operating procedures to utilize during • Conducting an in-person and virtual reporting several times each year from our Chief
Cybersecurity Conference for employees,
potentially significant events that could negatively impact our business. highlighting security issues, new threats
Information Security Officer as well as our Chief
Information Officer on our technology and cyber
We have a cybersecurity incident response plan in place, linked to our crisis and collaboration exercises risk profile, enterprise cybersecurity program and
management plan that provides a documented framework for handling • Launching a new Cybersecurity SharePoint key enterprise cybersecurity activities.
site to facilitate open communication
high-severity security incidents and includes facilitated coordination across and transparency We have an information security team, led by
our Chief Information Security Officer, that
multiple functions. Our incident response plan also includes identifying and • Holding a Cybersecurity Awareness Month
is responsible for assessing and managing
to raise awareness of data safety issues
responding to material risks from cybersecurity threats associated with our • Creating and publishing companywide
cybersecurity risks and monitoring cybersecurity
incidents. The team possesses relevant
use of third-party service providers. cybersecurity content at least quarterly experience in their respective fields, as well as
• Introducing a new “Phish Alert Report” top-level industry certifications from various
We invest in threat intelligence and are active participants in industry button in Microsoft Outlook leading certifying bodies. Our Cybersecurity
and government forums to improve our overall capabilities with respect Council comprises members of our senior
• Enhancing and maturing our server and
to cybersecurity. We routinely perform reviews of threat intelligence and management team who are regularly briefed
application management process
vulnerability management capabilities, while performing simulations on cybersecurity matters and provide input
and drills at both technical and management levels. We incorporate For more information to our overall approach to cybersecurity. Our
external expertise in all aspects of our program, utilizing best practice about how we are formal cybersecurity program is structured
guidance from third-party cybersecurity advisors to provide objective protecting customer and governed around the National Institute of
assessments of our capabilities. We also maintain a cyber liability data read our privacy Standards and Technology (NIST) Cybersecurity
insurance program and have policies and practices in place to address statement. Framework, as well as other global standards
data privacy regulations. Our cybersecurity program is reviewed and and best practices.
assessed by external information security specialists and by our internal
audit group at least annually.
Index
IN THIS SECTION:
72 Global Reporting Initiative (GRI) Index
87 Sustainability Accounting Standards Board (SASB) Index
89 Task Force on Climate-Related Financial Disclosures (TCFD) Index
“ ontinuing to invest in the enhancement of our

C
processes to provide high quality data allows us to
accurately measure our progress and drive the most
impact for our business and our stakeholders.”
—Damon Audia, Senior Vice President and Chief Financial Officer, AGCO
Global The organization and its

reporting practices
2-5
External assurance
2-8
Workers who are not employees
Reporting
AGCO did not conduct third-party assurance for 1,008 temporary or fixed-term employees in 2023.
2-1 nonfinancial data or this index.
Governance
Initiative
Organizational details
AGCO Corporation Activities and workers
2-9
(GRI) Index
AGCO Corporation is a publicly traded company on the
New York Stock Exchange. 2-6 Governance structure and composition
Activities, value chain, and other Governance
AGCO has facilities in Asia-Pacific and Africa, Europe
and the Middle East, North America and South America. business relationships Governance Committee Charter (updated April 2022)
AGCO has reported in reference with the GRI Standards for Global Reach Brand leadership for profitable, sustainable farming
2024 Proxy Statement, pages 16-18
the period 1 January 2023 – 31 December 2023 2023 10-K, page 1 (General)
2023 10-K, page 3 (Dealers and Distributions) (The Board and Corporate Governance)
4205 River Green Parkway, Duluth, GA 30096-2568 2023 Annual Report, page 2 2024 Proxy Statement, page 9 (Election of Directors)
We Win When Farmers Win’
GRI DISCLOSURES
2-2 2-10
 GRI 1: Foundation (2021) Entities included in the organization’s 2-7 Nomination and selection of the highest
Reporting principles and requirements sustainability reporting Employees governance body
2023 10-K, page 52 (Basis of Presentation and Consolidation) AGCO employed approximately 27,900 employees as of Board composition
December 31, 2023.
 RI 2: General disclosures
G Governance Committee Charter (updated April 2022)
(2021) 2-3 2023 10-K, page 1 (General)

2024 Proxy Statement, page 17 (Governance Committee)
Reporting period, frequency and contact point 2023 10-K, page 7 (Human Capital) and pages 18-19 (Identification and Evaluation of
AGCO’s 2023 Sustainability Report includes data covering Global Workforce Director Nominees)
the calendar year ending December 31, 2023.
WORKFORCE FULL-TIME PART-TIME
The Sustainability Report is an annual report, reporting 2-11
period is aligned with AGCO’s financial reporting period. Male 22,815 258
Chair of the highest governance body
Global Sustainability & ESG Reporting Manager Female 4,551 325
Eric P. Hansotia (Chief Executive Officer) assumed the role
Email: [email protected] Gender undeclared/other 15 4 of Chairman of the Board in 2021 and continued to hold it in
2022 and 2023.
APA 1,724 6
2-4 EME 14,345 510
2024 Proxy Statement, page 21 (Board Leadership Structure)
Restatement of information
NA 6,269 67
In the 2023 Sustainability report, AGCO corrected the ethnic
SA 5,043 4
diversity rate. The 2021 ethnic diversity rate was previously
reported in the 2022 report as 18% due to a calculation
error. The 2021 ethnic diversity rate was corrected to 15%
in this report.
Global Governance (cont.) 2-15

Conflicts of interest
2-20
Process to determine remuneration
2-12
Reporting
Corporate Governance Principles, page 7 2024 Proxy Statement, page 34 (Stockholder Outreach)
Role of the highest governance body in (Conflicts of Interest and Concern Reporting) 2024 Proxy Statement page 45 (Role of the Talent and
overseeing the management of impacts
Initiative
Compensation Committee), page 46 (Pay Governance
The Board reviewed and approved AGCO’s updated 2-16 and Pay for Performance Philosophy), and page 47
corporate purpose, mission and vision as part of a (Compensation Consideration)
Communication of critical concerns
(GRI) Index strategy refresh process in 2021.
Board of Directors
2023 10-K, pages 11-22 (Risk Factors)
2-21
Governance Committee Charter (updated April 2022) Annual total compensation ratio
2-17
AGCO has reported in reference with the GRI Standards for Governance 2024 Proxy Statement, page 69 (2022 CEO Pay Ratio)
Collective knowledge of the highest
the period 1 January 2023 – 31 December 2023
governance body
2-13 2024 Proxy Statement, pages 9-14 (Election of Directors) 2-22
Delegation of responsibility for Statement on sustainable development strategy
GRI DISCLOSURES managing impacts
Board composition
A letter from our CEO
Governance Committee Charter (updated April 2022)
G 2-18 2023 Annual Report, page 1 (CEO Message)
Governance
(2021) Evaluation of the performance of the highest
governance body
2-14 The Corporate Governance Committee conducts an annual
Role of the highest governance body in evaluation of the Board and each of its Committees.
sustainability reporting 2024 Proxy Statement, page 18
Sustainability reporting is overseen by Senior Vice President, (Identification and Evaluation of Director Nominees)
General Counsel, Chief ESG Officer and Corporate 2024 Proxy Statement, page 17
Secretary; Senior Vice President, Chief Financial Officer; (Board and Corporate Governance)
Vice President, Chief Communications Officer; and Vice
President, Chief Accounting Officer. This sustainability
report was prepared by the Director, Global Corporate 2-19
Sustainability. A Sustainability Council was established in Remuneration policies
2021, and a Board Sustainability Committee was established 2024 Proxy Statement, pages 34-35 (Certain Officers)
in 2022, to drive sustainability integration across policies,
activities, products and services, including support
of sustainability reporting.
Our Sustainability Governance Structure At-a-Glance
Governance Committee Charter (updated April 2022)
Global Strategy, policies and practices 2-28

Membership associations
Economic performance (2016)
2-23 201-1
Reporting
Public Policy
Policy commitments Direct economic value generated
and distributed
Stakeholder engagement
Initiative
AGCO is evaluating sustainability-related strategic decisions
following the precautionary principle. 2023 Annual Report, page 0 (2023 At-a-Glance
Global Code of Conduct 2-29 Financial Highlights)
(GRI) Index Corporate Governance Principles (Updated December 2023)

Supplier Code of Conduct
Approach to stakeholder engagement
Stakeholders are identified and selected through AGCO
2023 10-K, page 51 (Consolidated Statements of Cash Flows)
Health and Safety Policy leadership and employees conducting their business duties, 201-2
AGCO has reported in reference with the GRI Standards for stakeholder mapping exercises driven by vision, mission, Financial implications and other risks and
Environment and Climate Change Policy values and strategic priorities, and our materiality analysis.
the period 1 January 2023 – 31 December 2023 opportunities due to climate change
Zeroing in on key topics Task Force on Climate-Related Financial Disclosures
2-24 (TCFD) Index
GRI DISCLOSURES Embedding policy commitments 2-30
G
Governance Collective bargaining agreements Anti-corruption (2016)
979 U.S. employees were represented by a trade union in
(2021) 2-26 2023, which accounts for 15% of the NA workforce. 205-2
Mechanisms for seeking advice and 2023 10-K, page 7 (Unions, Collective Bargaining Communication and training about
 GRI 3: Material topics (2021) raising concerns Agreements and Work Councils) anti‑corruption policies and procedures
AGCO maintains an external email address, phone numbers 2023 10-K, page 8 (Talent)
and customer feedback form for all regions as a mechanism
for employees, contractors, vendors and customers to raise
Material topics
concerns related to a violation of law, our Code or AGCO
policies (see Feedback and Questions and AGCO Alert Line). 3-1
Corporate Governance Principles, page 7
Process to determine material topics
(Conflicts of Interest and Concern Reporting) Zeroing in on key topics
Global Code of Conduct, page 7

(“How to address issues and raise concerns”) 3-2
List of material topics
2-27 Zeroing in on key topics
Compliance with laws and regulations
Global
For GHG accounting we follow the GHG Protocol Corporate from purchased electricity. When calculating the energy
Energy (2016) Standard and Scope 2 guidance methodology. The energy data disclosed within this report, we applied estimations to
data collection and accounting is structured to support GHG fill data gaps due to invoicing and data availability issues.
302-1
Reporting
accounting. We collect energy data on a monthly basis from Estimations are calculated using the previous consecutive
Energy consumption within the organization sites using an industry-leading ESG data management 12-month period’s average consumption or same period of
tool, AGCO STAR, powered by Enablon. Nonrenewable previous year, or if historic data is not available, consumption
Initiative
As a manufacturing company, the energy consumption,
and subsequent GHG emissions of our operations are fuel consumption includes diesel, petrol, LPG, natural gas, is estimated based on regional average consumption
significant. We follow legal requirements and input from heating and residual fuel oil. Renewable fuel use includes per site type and floor area. In 2023, we implemented
(GRI) Index
stakeholders when setting goals to reduce our energy use. bio-diesel and biomass. We also report on-site renewable a new approach and estimated December 2023 energy
Our target is to achieve 60% renewable energy use by electricity generation (from solar and biomass) separately consumption across all sites to align better with external
2026, and we have also set an internal KPI of 2.5% annual
energy intensity reduction (MWh total energy consumed/
AGCO has reported in reference with the GRI Standards for standard hours). In order to achieve these targets, to keep ENERGY CONSUMPTION (GJ)
the period 1 January 2023 – 31 December 2023 in line with current and anticipated legal requirements, and
COMPLETE
to respond to stakeholder requests, we are utilizing various MANUFACTURING
PORTFOLIO
solutions. To reduce the use of nonrenewable energy, we are
implementing energy conservation, recovery and efficiency 2020 2021 2022 2023 2022 2023
GRI DISCLOSURES measures, exploring solutions for electrification of natural Total energy consumption (GJ) 1,872,538 2,102,740 2,141,841 2,178,437 2,505,224 2,505,470
gas usage and switching existing fossil fuel use to biofuels.
Total fuel consumption from nonrenewable sources (GJ) 834,583 936,892 995,845 1,031,081 1,111,491 1,119,918
 GRI 3: Material topics (2021) We are increasing the share of renewable electricity use
Natural gas (GJ) 627,249 707,206 749,373 784,293 853,981 854,983
by purchasing renewable electricity and continue installing
on‑site solar panels. From 2022 onward, we are collecting LPG (GJ) 75,322 83,442 86,746 93,863 90,059 96,184
energy data for all AGCO sites (excluding JVs where we
Diesel (GJ) 125,226 140,129 153,172 146,588 167,268 159,501
hold 50% or less and AGCO-owned dealerships). In the
interests of transparency and comparability, we will continue Other liquid fossil fuels (petrol, fuel oil, heating oil) (GJ) 6,786 6,114 6,554 6,337 8,604 9,250
to disclose the energy consumption of our manufacturing
Total energy consumption from renewable sources (GJ) 494,007 672,428 769,642 852,316 785,186 868,415
sites for 2023 separately (with historic figures for the same
scope) and energy consumption of the complete portfolio. Total renewable electricity consumption (GJ) 335,021 480,750 583,862 671,151 597,349 685,192
In addition, we are disclosing our company vehicles‑related Total renewable district heating consumption (GJ) 129,525 156,022 136,352 136,210 136,352 136,210
energy consumption and associated GHG emissions in our
Total fuel consumption from renewable sources (biodiesel,
complete portfolio 2023 data (Scope 1 and Scope 2). Our 29,461 35,656 49,427 44,953 51,485 47,013
biomass) (GJ)
company car fleet energy consumption comes from various
fuels: diesel, petrol, ethanol and electrical power. In 2023, we Total electricity consumption (GJ) 855,131 941,259 933,154 936,325 1,023,849 1,025,130
reduced the energy consumption of our company car fleet by Total renewable electricity consumption (GJ) 335,021 480,750 583,862 671,151 597,349 685,256
3%, and 11% of vehicles were hybrid or fully electric. In 2023,
Total grid (purchased electricity) consumption (GJ) 848,350 934,828 922,729 926,047 1,013,424 1,014,431
our manufacturing energy consumption increased by 2%, as
a result of an increase in production volumes and expansion Total on-site electricity generation (GJ) 6,781 6,431 7,401 10,279 7,401 10,699
of multiple facilities. Total district heating and steam consumption (GJ) 153,363 188,933 163,415 166,077 166,547 166,325
Total company vehicles energy consumption (GJ) N/A N/A N/A N/A 151,852 147,085
Global Energy (cont.)

reporting commitments. Estimated data is updated when actual data becomes available, and figures are restated in the next Sustainability Report and CDP Report. Our nonmanufacturing sites
Reporting include small offices and other rented space where reliable energy data is difficult to obtain. We are committed to improve data quality and availability, and we are continuously working to refine
our data collection processes to reduce the share of estimated consumption. The share of estimated consumption of total reported energy was ~9% for manufacturing sites and ~10% for the
Initiative
complete portfolio in 2023.
In 2023, 16% of our manufacturing sites were ISO 14001 certified and 6% held an ISO 50001 certification.
(GRI) Index REGIONAL BREAKDOWN

TOTAL ENERGY CONSUMPTION (GJ) TOTAL RENEWABLE ENERGY CONSUMPTION (GJ)
AGCO has reported in reference with the GRI Standards for COMPLETE COMPLETE
MANUFACTURING MANUFACTURING
the period 1 January 2023 – 31 December 2023 PORTFOLIO PORTFOLIO
2020 2021 2022 2023 2022 2023 2020 2021 2022 2023 2022 2023
Corporate 1,872,538 2,102,740 2,141,841 2,178,437 2,505,224 2,505,470 494,007 672,428 769,642 852,316 785,186 868,415
GRI DISCLOSURES APA 58,508 93,292 89,244 80,540 115,889 105,108 — — — — — —
 GRI 3: Material topics (2021) EME 954,889 1,090,089 1,026,455 1,030,956 1,217,660 1,170,131 362,308 528,158 517,409 594,040 528,871 605,383
NA 642,719 659,147 726,044 746,335 848,275 874,695 4,882 4,688 62,971 70,846 63,161 71,690
SA 216,423 260,212 300,098 320,605 323,401 355,537 126,817 139,582 189,262 187,430 193,154 191,342
TOTAL ELECTRICITY CONSUMPTION (GJ) TOTAL RENEWABLE ELECTRICITY CONSUMPTION (GJ)
COMPLETE COMPLETE
MANUFACTURING MANUFACTURING
PORTFOLIO PORTFOLIO
2020 2021 2022 2023 2022 2023 2020 2021 2022 2023 2022 2023
Corporate 855,131 941,259 933,154 936,325 1,023,849 1,028,299 335,021 480,750 583,862 671,151 597,349 685,192
APA 37,989 54,937 52,769 48,495 66,493 62,099 — — — — — —
EME 419,206 452,988 455,334 475,297 499,982 511,567 224,180 362,692 370,359 445,959 379,764 455,244
NA 272,221 284,821 270,655 255,584 298,643 293,321 4,882 4,688 62,971 70,846 63,161 71,690
SA 125,715 148,514 154,395 156,950 158,731 161,312 105,959 113,370 150,532 154,346 154,424 158,258
Global Energy (cont.) 302-4

Reduction of energy consumption
Reporting 302-3 During 2023, we had in place a 2.5% energy intensity

reduction target for our manufacturing sites, which,
Energy intensity
coupled with the ongoing QUEST program, supports the
Initiative
Energy and electricity intensity ratio is disclosed for both the manufacturing sites and the full portfolio, using total company implementation of energy efficiency measures and projects.
net sales (million USD) as normalisation metric. In the energy intensity figure, the numerator is the total energy consumed These include LED lighting upgrade, upgrade of HVAC and
within the organization, which includes electricity (purchased and self-generated), district heating and fuel usage (diesel, petrol,
(GRI) Index
compressed air systems. We achieved 2 GWh reduction in
biodiesel, other liquid fuels, natural gas, LPG) from nonrenewable and renewable sources as applicable and detailed in 302-1. our energy use as a direct result of energy conservation and
The complete portfolio metric also includes company vehicles-related energy use (including the use of petrol, diesel, ethanol efficiency projects implemented in 2023. Types of energy
and electricity in our owned and leased on-road vehicles). included are: fuel (biodiesel, diesel, LPG, natural gas) and
electricity. Energy consumption reduction is compared to a
AGCO has reported in reference with the GRI Standards for ENERGY INTENSITY PER TOTAL NET SALES baseline of energy usage without any intervention/change,
the period 1 January 2023 – 31 December 2023 (MWh/MILLION USD NET SALES)
which methodology follows the assumptions and methods of
COMPLETE project scoping and impact assessment in the QUEST tool.
MANUFACTURING
PORTFOLIO
GRI DISCLOSURES 2020 2021 2022 2023 2022 2023 Water and effluents (2018)
Corporate 56.85 52.44 47.03 41.99 55.01 48.29
 GRI 3: Material topics (2021) 303-1
APA 22.14 27.29 27.32 25.28 35.48 32.99
EME 42.63 56.42 44.22 37.98 52.46 43.11

Interactions with water as a shared resource
Since our operations are not particularly water intensive,
NA 82.08 68.85 63.52 55.24 74.21 64.75
water and effluents have not been identified as a material
SA 68.80 55.27 39.29 39.86 42.34 44.20 topic for AGCO. However, we are tracking and disclosing
water use of our manufacturing sites and continue to work
to improve data quality. Using the WRI Aqueduct Water Risk
ELECTRICITY INTENSITY PER TOTAL NET SALES
Atlas, we have identified six of our manufacturing sites that
(MWh/MILLION USD NET SALES)
are currently located in high or extremely high water stress
COMPLETE areas and six more sites that are predicted to experience
MANUFACTURING
PORTFOLIO high or extremely high water stress by 2030 under the
2020 2021 2022 2023 2022 2023 business as usual scenario. This includes five sites in the U.S.
in Kansas, Illinois and Minnesota; three sites in China
Corporate 25.96 23.47 20.49 18.05 22.48 19.82
and Malaysia; and four sites in Europe. In 2023, we have set
APA 14.38 16.07 16.15 15.22 20.36 19.49 a new target to reduce our water withdrawal by 10% overall
across all of our manufacturing sites by 2026. Within this
EME 18.72 23.45 19.62 17.51 21.54 18.85
target, we are expecting the most ambitious contribution
NA 34.77 29.75 23.68 18.92 26.13 21.71
SA 39.96 31.55 20.21 19.51 20.78 20.06

Global Water and effluents (cont.)
Reporting
from our top 11 sites by absolute water withdrawal, which accounts for 85% of our total water withdrawal. Six of the top 11 sites are high or extremely high water stress sites, and account for 93% of
the total withdrawal of high and extremely high water stress sites. All disclosed water metrics are reflective of manufacturing sites, which accounts for 97% of our total water withdrawal.
Initiative 303-3
Water withdrawal
(GRI) Index Our sites report water withdrawal from municipal water supply and other water sources (mainly groundwater wells), and it is understood as freshwater sources. Water consumption is calculated using
the following formula: Water consumption = water withdrawal — water discharged — water recycled. Where water discharge is not measured directly, discharge = withdrawal was assumed. We aim to
improve upon the measurement of water discharge in the future to be able to provide more accurate water consumption figures. From 2023 onward, we are reporting the same metrics for high and
extremely high water stressed sites, and disclosing these metrics retrospectively for 2021 and 2022 in this report.
AGCO has reported in reference with the GRI Standards for
WATER WITHDRAWAL FROM MUNICIPAL WATER WITHDRAWAL FROM OTHER
WATER DISCHARGE (m3)
WATER SUPPLY (m3) WATER SUPPLY (m3)
GRI DISCLOSURES 2021 2022 2023 2021 2022 2023 2021 2022 2023
Corporate 466,160 467,440 512,133 244,568 258,509 339,338 528,357 520,756 606,476
 GRI 3: Material topics (2021) High and extremely high water stressed
197,238 205,517 247,833 113,195 108,839 125,265 260,520 264,702 292,428
manufacturing locations
APA 47,338 38,360 59,162 42,312 37,375 19,152 89,650 75,735 78,313
EME 161,073 158,700 184,956 78,711 79,293 113,940 177,272 178,345 204,874
NA 118,020 126,218 142,154 — — — 117,717 126,133 142,080
SA 139,728 144,162 125,861 123,545 141,841 206,246 143,718 140,542 181,210
WATER WITHDRAWAL INTENSITY

WATER REUSED/RECYCLED (m3) WATER CONSUMPTION (m3)
(m3/’000 STD HRS)
2021 2022 2023 2021 2022 2023 2021 2022 2023
Corporate 3,919 2,742 5,102 178,452 202,451 239,892 61.92 60.30 68.84
High and extremely high water stressed

132 73 67 49,781 49,581 80,602 70.05 70.94 84.19
manufacturing locations
APA — — — — — — 105.62 90.37 110.26
EME 2,634 1,694 3,483 59,879 57,953 90,539 41.42 38.62 45.30
NA 288 73 67 16 12 7 47.83 52.34 55.01
SA 998 975 1,551 118,557 144,486 149,346 111.00 108.89 134.07

Global Water and effluents (cont.) emissions by 55% by 2023, compared to a 2022 baseline. In addition, we have a target to achieve 60% renewable energy use
by 2026. These targets are being monitored regularly and are revised and updated as appropriate with new developments and
investor feedback. Our decarbonization strategy includes the use of various levers depending on regional and market factors. Our
303-4
Reporting Water discharge
QUEST initiative (Quick Energy Savings Tools) was launched in 2021, and continues to support the identification and execution
of energy efficiency projects across the business. AGCO continues to work toward increasing the use of renewable electricity via
green supply contracts and unbundled energy attribute certificate (EAC) purchase programs, as well as exploring other long-term
Initiative
See 303-3
solutions, such as installation of on‑site renewable electricity generation and virtual power purchase agreements (vPPAs). All of
these measures contribute to reducing our reliance on nonrenewable energy sources, especially natural gas, which is crucial for
303-5
(GRI) Index
achieving our absolute Scope 1 and 2 GHG emissions reduction target.
Water consumption For our GHG emissions accounting, we follow the Greenhouse Gas Protocol: Corporate Accounting and Reporting Standard and
See 303-3 Scope 2 Standard methodology. We use an operational control approach and Scope 2 dual reporting. Within this report and
Water consumption in 2023 has increased by 18%, which can index, when it is not otherwise specified, Scope 2 data is referring to Scope 2 market-based values, and we use Scope 2 market-
AGCO has reported in reference with the GRI Standards for be attributed to the increase in production, the expansion of based values for reporting and tracking targets. We utilize AGCO STAR to track and calculate energy and emissions data of our
the period 1 January 2023 – 31 December 2023 multiple sites and leakage at one of our facilities. sites. The GHGs included in our calculations are CO2, CH4 and N2O. We report GHG emissions in tCO2e, and use global warming
potentials of CH4 and N2O to calculate CO2e according to the 5th International Panel on Climate Change Assessment Report.
Emissions (2016)
GRI DISCLOSURES MANUFACTURING
COMPLETE
305-1 PORTFOLIO
 GRI 3: Material topics (2021) Direct (Scope 1) GHG emissions 2020 2021 2022 2023 2022 2023
Decarbonization of our operations, as one of our strategic Scope 1 (tCO2e) 50,269 58,342 62,073 64,126 80,618 79,541
pillars, is a material topic. As a large energy user and
Scope 2 location-based (tCO2e) 91,287 99,280 83,197 88,229 91,508 97,274
therefore GHG emitter, we support the ambitions of the
Paris Agreement. We established a Decarbonization Scope 2 market-based (tCO2e) 50,259 47,953 33,731 28,768 41,803 37,999
Workstream, which includes representatives of various Total Scope 1+2MB emissions (tCO2e) 100,528 106,295 95,804 92,894 122,421 117,540
parts of the business that regularly come together to:
• Evaluate recent developments of frameworks, policies
and reporting requirements around decarbonization and
REGIONAL BREAKDOWN
its implications to AGCO SCOPE 1+2 MARKET-BASED EMISSIONS (tCO2e)
• Evaluate feedback from investors and other stakeholders
about decarbonization best practices and requirements, COMPLETE
MANUFACTURING
PORTFOLIO
and to provide insight for development of our
decarbonization strategy 2020 2021 2022 2023 2022 2023
• Exchange ideas and best practices across regions and Corporate 100,528 106,295 95,804 92,894 122,421 117,540
different parts of the business
APA 7,768 11,789 11,282 10,242 15,000 13,252
In 2022 we have achieved our initial Scope 1 and 2 GHG
emissions-reduction target ahead of schedule. In 2023, EME 38,834 36,725 32,811 28,868 43,320 37,665
we announced our new, ambitious Scope 1 and 2 GHG NA 48,615 51,047 44,338 44,897 54,665 55,440
emissions-reduction target, in line with the 1.5°C
SA 5,311 6,734 7,373 8,886 9,435 11,182
emission‑reduction pathway: reduce absolute Scope 1 and 2
Global
transport and distribution, and category 11) use of sold products. We have completed calculations
Emissions (cont.) for the emissions associated with these categories. For transparency, we also disclose estimated
emissions of all 15 categories as part of a Scope 3 inventory using 2021 data, and will periodically
305-2
Reporting
repeat this inventory and calculations. For our Scope 3 accounting, aligned with our Scope 1 and
Energy indirect (Scope 2) GHG emissions 2 methodology, we follow the GHG Protocol Scope 3 Guidance, and disclose against the same
emissions categories for 2022 and 2023. All emissions are expressed in tCO2e. By their nature,
Initiative
See 305-1
current determinations of Scope 3 emissions produce only estimates and are not necessarily
accurate amounts. In determining our Scope 3 inventory, we solicited input from various parts of our
305-3
(GRI) Index
business with respect to various reported components, reviewed and applied publicly available and
other data and in some instances averaged and estimated amounts and applied that analysis to
Other indirect (Scope 3) GHG emissions
larger populations of products. While our inventory reporting and subsequent Scope 3 disclosures
During 2022, we completed an inventory of our Scope 3 GHG emissions and identified the reflect good faith estimates, we caution that they may not be complete, rely on some estimations
categories that generate the largest emissions in our value chain. These are category 1) purchased and may or may not have been prepared in a manner comparable to how the amounts might be
AGCO has reported in reference with the GRI Standards for goods and services, category 4) upstream transport and distribution, category 9) downstream determined by others or by us in prior or future periods.
SCOPE 3 GHG EMISSIONS (tCO2e)

GRI DISCLOSURES 2021
SCOPE 3 CATEGORY INVENTORY 2022 2023 APPROACH
 GRI 3: Material topics (2021) 1 Purchased goods and services 4,671,012 5,460,383 5,677,222 All purchased goods and services were included based on spend data by material and supplier location.
2 Capital goods N/A N/A N/A Included in purchased goods and services.
3 Fuel- and energy-related activities 7,256 Not material Not material Energy used in operations associated with our reported Scope 1 and 2 emissions, calculated on fuel level,
based on actual KWh consumption.
4 Upstream transportation and distribution 1,665,648 1,947,132 2,024,277 Spend-based data was used for each transport method and region.
5 Waste generated in operations 11,516 Not material Not material Country waste averages were used for each region. Calculated for manufacturing sites only, doubled to
include offices and rest.
6 Business travel 11,031 Not material Not material Air, rail and road (rental cars etc., not employee commuting) transport were accounted for.
7 Employee commuting 40,693 Not material Not material Country data averages were used for travel methods, distances and remote working percentages.
8 Upstream leased assets N/A N/A N/A Lease emissions of real estate have been included in Scope 1 and 2 due to operational control approach.
9 Downstream transport and distribution 271,152 316,975 383,178 Spend-based data was used for each transport method and region.
10 Processing of sold products N/A N/A N/A AGCO sells only final products. AGCO engines are considered to be final products, and their use-phase
emissions are included in use of sold products.
11 Use of sold products 18,112,775 19,562,638 21,435,904 This includes all use-phase emissions of both tractors and non-tractors.
12 End-of-life treatment of sold products N/A N/A N/A It is rare that tractors reach end of life as they are cascaded to 2nd/3rd markets. Recycled products
account for below 1% of our baseline.
13 Downstream leased assets N/A N/A N/A AGCO does not lease assets to third parties.
14 Franchises N/A N/A N/A AGCO does not have franchises.
15 Investments 15,000 Not material Not material Estimated Scope 1 and 2 emissions of three joint ventures proportionately based on equity share. AGCO
holds less than 50% in all three joint ventures.
Global Emissions (cont.) 305-5

Reduction of GHG emissions
305-4
Reporting
In 2023, we continued to increase the amount of renewable
GHG emissions intensity electricity by enrolling one of our largest European
manufacturing sites to our ongoing unbundled EAC purchase
Initiative
In 2023, our Scope 1+2 manufacturing emission intensity (per million USD of net sales) decreased by 15% compared to 2022,
and by 41% compared to 2020. Since 2022, we are calculating the Scope 1+2 emissions of our whole operations, and we have program and purchasing renewable electricity for 75%
achieved 16% reduction of this emission intensity metric in 2023, compared to 2022. of their electricity consumption, with a gradual ramp-up
(GRI) Index
planned to 100% by 2026. The direct emissions-reduction
EMISSION INTENSITY PER TOTAL NET SALES (tCO2e/MILLION USD NET SALES) results of these initiatives were approximately 4,000 tCO2e
(compared to a baseline of market-based emissions in the
COMPLETE absence of the reduction initiatives).
MANUFACTURING
PORTFOLIO
2020 2021 2022 2023 2022 2023
305-7
Corporate 10.99 9.54 7.57 6.45 9.68 8.16 Nitrogen oxides (NOx), sulfur oxides (SOx), and
APA 10.58 12.41 12.43 11.57 16.53 14.97 other significant air emissions
GRI DISCLOSURES EME 6.24 6.84 5.09 3.83 6.72 5.00 Our VOC air emissions have increased 2% compared to
2022, due to the increase in production and the expansion
NA 22.35 19.20 13.96 11.96 17.22 14.77 of paint lines at two of our facilities. Main sources of
 GRI 3: Material topics (2021) SA 6.08 5.15 3.48 3.98 4.45 5.00 VOC emissions are solvents and paints used in the
manufacturing process.
VOC EMISSIONS (METRIC TON)
2020 2021 2022 2023
Corporate 453 501 575 584
APA 2 1 2 3
EME 190 216 269 256
NA 118 105 109 104
SA 143 180 196 221

Global Waste (2020) 306-3

Waste generated
306-1
Reporting Waste generation and significant
waste‑related impacts
306-4
Initiative
Waste diverted from disposal
95% of the waste generated across our operations is
associated with the manufacturing sites. Waste data is
306-5
(GRI) Index collected in our ESG data management tool, AGCO STAR
from all of our sites on a monthly basis.
We set a new goal in 2023 to reduce our waste generated
Waste directed to disposal
HAZARDOUS
in our manufacturing operations globally: divert and maintain TOTAL WASTE NONHAZARDOUS
% OF TOTAL WASTE % OF TOTAL
AGCO has reported in reference with the GRI Standards for (METRIC TON) WASTE (METRIC TON)
90% of nonhazardous waste from landfills by 2026. 90% (METRIC TON)
the period 1 January 2023 – 31 December 2023 of our waste generated in our manufacturing operations
Waste generated 93,324 83,839 90% 9,485 10%
is nonhazardous waste, with an 86% diversion from landfill
rate in 2022, and 92% in 2023. Manufacturing sites that Waste disposed 7,441 6,856 92% 586 8%
GRI DISCLOSURES are currently below 90% diversion from landfill rate will Waste diverted from landfill 85,882 76,983 90% 8,899 10%
assess their waste streams and develop actions to gradually
Waste recycled 81,360 74,908 92% 6,452 8%
increase their diversion rate. These actions include review
 GRI 3: Material topics (2021) and optimization of packaging materials, exploring reuse Waste incinerated 4,523 2,075 46% 2,447 54%
and recycling options and employee awareness-raising and In 2023, 89% of manufacturing nonhazardous waste was recycled, 3% was incinerated and 8% was disposed (landfilled).
education. In 2023, the North America region rolled out
a Resource Conservation and Recovery (RCRA) and Spill
Prevention Control and Countermeasures (SPCC) training Supplier environmental assessment (2016)
to manufacturing and assembly sites to ensure employees’
understanding of the environmental and community impact 308-1
of hazardous waste and pollution. Environmental Focus New suppliers that were screened using environmental criteria
Assessments are carried out annually for selected facilities,
For new suppliers, we carry out on-site readiness reviews that include some environmental screening criteria and form part of
which include risk assessments of waste hauled off-site for
our risk assessment process. Our Purchasing team is currently working on a new onboarding process that will incorporate these
end-of-life treatment, and the report, improvement plans and
criteria and formalize the process.
implementation progress are reviewed by facility leadership
and by the assessor.
308-2
306-2 Negative environmental impacts in the supply chain and actions taken
Management of significant Engaging suppliers
waste‑related impacts
See 306-1
Global Employment (2016) 401-2

Benefits provided to full-time employees
403-8
Workers covered by an occupational health and
401-1
Reporting
that are not provided to temporary or safety management system
New employee hires and employee turnover part‑time employees All our operations are covered by our internal health and
safety management system, including manufacturing
Initiative
In all countries, we offer market-competitive benefits.
NEW HIRES plants, offices, sales offices, our own distribution center
TOTAL 5,216 and warehouses, as well as third-party contractors working
402-1
(GRI) Index
on AGCO’s premises. As of end of 2023, 12 (38%) of our
Male 4,095
Minimum notice periods regarding manufacturing sites were certified to ISO 45001. Eight
Gender Female 1,105 operational changes additional sites are in the process of obtaining certification.
Our operations undergo various safety audits and inspections
Undeclared/other 16 We provide notice regarding any operational changes at
throughout the year. There are internal audits performed to
AGCO has reported in reference with the GRI Standards for APA 292 minimum in compliance with local laws and the provisions
evaluate current practices and performance, used to measure
the period 1 January 2023 – 31 December 2023 of relevant collective bargaining agreements or as soon
EME 2,105 the maturity of the operation. One of the key outcomes is
as possible.
Region providing the operation with specific prioritized actions to
NA 1,598
take to help further develop and improve their performance.
GRI DISCLOSURES SA 1,221 Occupational health This consultative approach is well received by the operation
leaders, who value the positive and collaborative process as
 GRI 3: Material topics (2021)
30-50 years old 2,809
and safety (2016) it quickens improving their performance.
Age group over 50 years old 560
All our operations that have different ISO Certifications
under 30 years old 1,847 403 also receive regular external audits from their registrars.
Management approach These audits are to ensure compliance to the ISO Standards
EMPLOYEE TURNOVER Health, safety and wellbeing and provide good feedback on strengths of their systems
and processes as well as provide further opportunities
TOTAL EMPLOYEE TURNOVER RATE 10.5% Health and Safety Policy
for improvement.
VOLUNTARY TURNOVER RATE 7.5% Occupational health and safety is not just an obligation and
a duty to our employees; we believe safety excellence can
Total employee turnover
rate – breakdown
Male 10.5%
set AGCO apart and provide a competitive advantage. We 403-2
by gender Female 10.5% are now expanding our safety program to track performance Hazard identification, risk assessment, and
and improvements across all sites globally. By leveraging incident investigation
APA 10.2%
our long‑term shop floor experience, we will strive to achieve
Total employee turnover
Factory risk assessments are systematically carried out by
EME 6.2% zero work-related injuries across our global enterprise. Our
rate – breakdown trained professionals and are used as a training opportunity
NA 17.4% long‑term safety vision is to be the best-in-class in the
by region for Group Leaders and Team Leaders to strengthen their skill
agricultural industry.
SA 14.6% set. It is a valuable approach to educate employees and drive
personal ownership of safety to every employee.
under 30 years old 16.8%
Total employee turnover 403-1 Employees also received risk assessment training as part of
rate – breakdown by 30-50 years old 9.2%
age group
Occupational health and safety a mandatory online training module. The material outlined
over 50 years old 9.4% management system the process for evaluating hazards at the workplace (and
at home for remote workers) and provided guidance for
employees on actions required to mitigate them.
Global Occupational health

and safety (cont.)
403-5
Worker training on occupational health
403-9
Work-related injuries
Reporting
and safety Improving our safety performance
During 2023, we have also started to evaluate the different Health, safety and wellbeing In 2023, our Total Case Incident Rate (TCIR) was 1.86,
approaches to emergency planning within our operations
Initiative
All employees are assigned a mandatory training on our making it the third year in a row we achieved double digit
with the help of a third-party subject matter expert. We health and safety policies, goals, processes and tools, as well improvement, reflecting 15% improvement year over year. We
anticipate the results will provide us a more comprehensive as a separate training on identifying health and safety risks. have set an aggressive safety performance target to achieve
(GRI) Index
and consistent set of practices that will ensure a more robust In 2023, our Behavior Based Safety training was launched to a TCIR rate below 1.5 by the end of 2025. Within the AGCO
management of these key processes. teach employees how to conduct positive safety interactions workforce, one fatal incident occurred in 2023. Within the
and how to model safety leadership behaviors. This training contractor workforce, no fatalities were recorded.
403-4 also employs a ‘Learn By Doing’ exercise, requiring employees

to demonstrate their new skills with oversight and coaching 2020 2021 2022 2023
Worker participation, consultation, and from their manager. This proven method helps ensure the
the period 1 January 2023 – 31 December 2023 Total case incident
communication on occupational health 2.87 2.53 2.18 1.86
key lessons are both understood and deployed through rate (TCIR)
and safety their actions.
GRI DISCLOSURES Employees are expected to play an active role in health

and safety as part of the company’s efforts to ensure
We also introduced enhanced onboarding practices to ensure
new hires received extensive safety training including safe
that all employees return home safely at the end of the workplace standards in our APS Learning Factories. Several
 GRI 3: Material topics (2021) day. Establishing a culture of health and safety and risk types of employee coaching, mentoring and restricted work
awareness — where everyone looks out for one another — for new hires were expanded. As an example, all new hires in
is key to a safe work environment. As part of annual our Beauvais, France, factory, are allowed to perform only ‘low
performance reviews, health and safety forms 5% of all risk’ work when they begin. As they demonstrate good safety
employees’ annual performance goals. Employees at every practices and get acclimated to the factory environment, they
level of the business set behavior-based goals, cascaded can gradually progress into more challenging work processes.
from the corporate level with an emphasis on leading KPIs to
drive a stronger safety culture.
403-6
Promotion of worker health
Advancing employee wellbeing
In some countries, private health insurance is part of the
compensation package, and employees have access to
mental health and wellbeing resources and counseling.
Global Training and education (2016) Diversity and equal

opportunity (2016)
415-1
Political contributions
404-1
Reporting
In 2023, we did not engage in any financial and/or in-kind
Average hours of training per year per employee 405-1 contribution to any political campaign.
Initiative
Developing our talent Diversity of governance bodies and employees AGCO supports and engages with trade associations
for many reasons, including development and sharing of
AVERAGE HOURS OF
2023 10-K, page 9 (Diversity)
WHITE- LEADERSHIP best practices on matters important to the agricultural
(GRI) Index
TRAINING* / EMPLOYEE Our 2023 Workforce at-a-Glance equipment industry, advocacy on behalf of industry interests,
COLLAR STAFF GROUP
CATEGORY
AGCO U.S. EEO-1 2022 Employment data promotion of public policy and/or general support for an
Male 22 36 organization’s mission. AGCO’s engagement depends on the
Female 25 26 role the trade association plays in helping AGCO achieve
AGCO has reported in reference with the GRI Standards for Total for employees 27
Supplier social assessment (2016) its strategic objectives and may include varying levels of
the period 1 January 2023 – 31 December 2023 financial support, involvement on the board and/or with key
in scope**
* These numbers only represent the learning that happened
414-2 committees, or targeted financial support for key initiatives
within a broader organization. We periodically re-evaluate our
through and was registered in the central Learning Negative social impacts in the supply chain
memberships and engagement models to ensure alignment
GRI DISCLOSURES Management System.
** Representing approximately 50% of the total workforce
and actions taken and review our trade association memberships to determine if
Engaging suppliers any adjustments are needed in our membership status or the
 GRI 3: Material topics (2021) Managing risks in our supply chain financial support we provide to the organization.
404-2
Programs for upgrading employee skills and
transition assistance programs Public policy (2016)
Recruiting, retaining and developing top talent
415
Management approach
404-3 Governance, Oversight and Management of AGCO’s public
Percentage of employees receiving regular policy activities are defined in its Position Statement document.
performance and career development reviews AGCO’s Government Affairs Policy governs the company’s
All non-shop-floor AGCO employees receive regular interaction with elected officials and legislative and regulatory
performance reviews. Upon joining the organization, bodies at all levels.
employees are onboarded onto ‘Employee Central,’
We are committed to complying to all laws and regulations
which provides access to our GROW online learning and
governing corporate political activities. The laws of many countries
performance management platform. In annual performance
prohibit or strictly limit contributions by corporations to political
appraisals, all people managers are assigned a people
parties and candidates. The rules for political and community
managers goal, which specifies and measures the leadership
engagement that employees must follow are also set out in our
behaviors we expect of them. The people manager’s goal
Global Code of Conduct. We communicate our strategic priorities
requires completing annual performance reviews with all
and perspective on matters of public policy with our trade
employees, leading employee development discussions
associations, policymakers and, as appropriate, the public so that
covering career, performance and personal development
our positions are known.
goals, holding regular one-on-one reviews with direct reports
and preparing successor development plans for team roles.
Global AGCO U.S. EEO-1 2022 EMPLOYMENT DATA

HISPANIC OVERALL
Reporting OR LATINO
MALE FEMALE MALE

NOT HISPANIC OR LATINO
FEMALE
TOTAL
Initiative Black
Native
Hawaiian or
American
Indian or Two or Black
Native
Hawaiian or
American
Indian or Two or
(GRI) Index
or African Other Pacific Alaska More or African Other Pacific Alaska More
Job categories White American Asian Islander Native Races White American Asian Islander Native Races
Executive/Senior Level
0 0 22 0 2 0 0 0 2 2 0 0 0 0 28
Officials and Managers
AGCO has reported in reference with the GRI Standards for First/Mid-Level Officials
25 3 460 7 35 1 0 0 110 11 15 0 0 2 669
the period 1 January 2023 – 31 December 2023 and Managers
Professionals 33 29 1,124 58 96 0 2 11 315 51 32 0 2 6 1,759
Technicians 8 2 192 5 2 0 0 0 42 1 0 0 0 0 252

GRI DISCLOSURES
Sales Workers 2 1 275 3 1 0 0 6 44 0 0 0 0 0 332
 GRI 3: Material topics (2021) Administrative

Support Workers
8 11 114 5 12 0 0 1 166 14 14 1 0 2 348
Craft Workers 90 7 874 19 11 2 6 13 53 1 2 0 1 2 1,081
Operatives 160 41 847 64 12 1 2 10 241 3 6 0 1 2 1,390
Laborers and Helpers 23 15 38 12 0 0 1 1 19 1 0 0 1 0 111
Service Workers 0 0 4 0 0 0 0 0 1 0 0 0 0 0 5
CURRENT
2022 REPORTING 349 109 3,950 173 171 4 11 42 993 84 69 1 5 14 5,975
YEAR TOTAL
Data as of October 31, 2022
17% of U.S. employees are ethnically diverse

Sustainability SUSTAINABILITY DISCLOSURE TOPICS & ACCOUNTING METRICS

ENERGY MANAGEMENT
Accounting CODE METRIC

UNIT OF
MEASURE
2023 RESPONSES
Standards Board RT-IG-130a.1 (1) Total energy consumed

(2) Percentage grid electricity
Gigajoules (GJ),
Percentage (%)
(1) Total energy consumed: 2,178,437 GJ
(2) Percentage grid electricity: 43%
(SASB) Index (3) Percentage renewable (3) Percentage renewable energy: 39%
Disclosure
Industrial Machinery & Goods In 2021, AGCO implemented an ESG management tool to track our energy consumption. In 2022, we rolled out this tool to all sites globally.
For comparability with previous years’ data, we will continue to report on manufacturing sites’ energy consumption in table RT-IG-130a.1
Our 2023 SASB Report is AGCO’s fifth report against the of this index, and in the narrative below we provide total energy consumption of our full portfolio, which includes manufacturing sites,
SASB framework. warehouses, assemblies, offices and training centers, as well as company vehicles. Our reporting currently excludes AGCO-owned dealerships.
In 2023, the total energy consumption of our full portfolio was 2,505,470 GJ.
As an ‘Industrial Machinery and Goods’ organization under
the SASB resource transformation category, the material
factors under the SASB framework cover the following: EMPLOYEE HEALTH & SAFETY
• Energy management UNIT OF

CODE METRIC 2023 RESPONSES
• Employee health and safety MEASURE
• Fuel economy and emissions in use-phase RT-IG-320a.1 (1) Total recordable incident rate (TRIR) Rate (1) TCIR: 1.86
• Materials sourcing (2) Fatality rate (2) AGCO fatality: 1*
Contractor fatality: 0
• Remanufacturing design and services
(3) N
ear miss frequency rate (NMFR) (3) Near miss frequency rate: not tracked
Disclosure
The TRIR data covers 100% of manufacturing sites, office locations, parts distribution, warehouses and assembly centers. Data is calculated
per 200,000 hours worked.
*An engineering operator was fatally injured due to an accidental startup while working on a tractor as part of the routine inspection. Since
this incident, we have implemented extensive control measures in our testing/inspection operations to prevent such accidents in the future.
FUEL ECONOMY & EMISSIONS IN USE-PHASE MATERIALS SOURCING
UNIT OF UNIT OF
CODE METRIC 2023 RESPONSES CODE METRIC 2023 RESPONSES
MEASURE MEASURE
RT-IG-410a.1 Sales-weighted fleet fuel efficiency for Gallons per Not applicable to AGCO RT-IG-440a.1 Description of the management n/a See disclosure below
medium- and heavy-duty vehicles 1,000 ton-miles of risks associated with the use of
critical materials
RT-IG-410a.2 Sales-weighted fuel efficiency for Gallons per hour Given the diversity of our products and variety
non‑road equipment of in-use application, as well as the absence of
industry standards to estimate a per unit of work Disclosure
RT-IG-410a.3 Sales-weighted fuel efficiency for Watts per gallon basis, AGCO is unable to calculate sales-weighted
stationary generators fuel efficiency or emissions. Global supply chains can be exposed to a seemingly endless number of risk factors. These risks can range from financial risks to anti-
corruption violations to upstream and downstream mapping of a supplier’s supply chain. At AGCO, taking proactive measures is a key pillar of
RT-IG-410a.4 Sales-weighted emissions of: Grams per supply chain risk management. Accordingly, AGCO utilizes various tools to assess and monitor risks within the supply chain. No matter what
kilowatt-hour the risk, AGCO seeks to be able to quickly identify any risk occurrences and react appropriately. AGCO expects full transparency from its
(1) nitrogen oxides (NOx) and
suppliers when it comes to supply chain risk management. The management of risks associated with the use of critical materials is handled by
(2) particulate matter (PM) for:
multiple functions within AGCO including global purchasing as well as pricing, quality and legal teams. We also work directly with our suppliers
(a) marine diesel engines,
to mitigate supply chain risks. AGCO employs several measures to manage critical materials, including, but not limited to:
(b) locomotive diesel engines,
(c) o
n-road medium- and heavy-duty • Tracking tier 1 direct material suppliers and some indirect material suppliers via real-time risk management software, which enables AGCO
engines, and to profile and monitor our supply network
(d) o
ther non-road diesel engines. • Dual sourcing strategy on critical materials to ensure security of supply
• Supply Base optimization initiatives
Disclosure • Design change collaboration
As a global business, AGCO has a manufacturing footprint on multiple continents and makes its products available in many parts of the • Strategic pricing strategies and contract management
world. In all countries where we do business, AGCO meets and, in many cases, exceeds local emissions standards or legal requirements. As • Regular supplier audits of new and existing suppliers via our supplier quality organization
a pioneer in the application of new innovative emissions-reduction technologies to significantly reduce NOx, AGCO was the first to adopt Our supplier cost analysis team is responsible for tracking the percentage and weights of critical materials for purchased parts. Purchased
the Selective Catalytic Reduction (SCR) technology in agricultural machinery to meet U.S. EPA Tier 4 standards. AGCO met the stringent parts are tracked by geography so that we are immediately aware when a critical part is impacted by regional supply chain risks. Purchased
particle number requirement introduced by EURO V standards in 2019 by application of Diesel Particulate Filter (DPF) in its engines. These parts are categorized by criticality through assignment to one of our global commodity strategic areas. Strategic parts are managed through
engines are produced by AGCO Power Oy, a fully owned subsidiary of AGCO. AGCO is investing in research and development to discover global commodity directories, and less-critical parts are managed regionally. AGCO is a member of the Responsible Minerals Initiative and a
and offer a variety of viable innovative solutions to improve resource efficiency. This includes defining a diverse portfolio of equipment for our core team member of the Smelter Engagement Team to engage with global smelters to source responsibly and receive certification. For more
customers including diesel, natural gas, electrified power, hybrid technology, fuel cell technology and alternative fuels. As countries around the information on AGCO’s approach to supply chain risk prevention visit our website.
world adopt emission standards and developed countries continue to significantly reduce the allowable pollutant limits in the future, AGCO is
prepared and well-positioned to meet new requirements.
REMANUFACTURING DESIGN & SERVICES
CODE METRIC 2020 2021 2022 2023
RT-IG-440b.1 Revenue from remanufactured 79.3 million USD 93.4 million USD 94 million USD 104 million USD
product and remanufacturing
services
Task Force on Introduction

AGCO has a history of providing smart farming solutions to sustainably feed a growing global population.
Climate-Related Alongside our commitment to investments in technology and innovation, AGCO is working in partnership
Financial with our dealers to deliver the high-quality, smart solutions farmers need to sustain their operations and the
environment while increasing yields.
Disclosures AGCO recognizes the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD)
(TCFD) Index as a useful framework for assessing and reporting on climate-related risks and opportunities. We continue
to incorporate the TCFD framework into our sustainability program, and by addressing its recommendations,
we are increasing our preparedness for the potential physical and transition impacts associated with
climate change. Our approach to climate risk scenario analysis and detailed overview of climate risks and
opportunities is outlined in our 2021 TCFD Report. This index provides a summary of updated activities in
2023 covering the four TCFD pillars, governance, strategy, risk management as well as metrics and targets.
Further climate disclosures can be found in our CDP Climate Change 2023 disclosure.
• Sustainability workstreams, which lead the implementation of actions affected by climate-related weather events, reducing the probability
Governance within the various businesses to meet AGCO’s stated sustainability of manufacturing delays. We have revised our approach to inventory
goals and commitments to maximize flexibility, efficiency, and cost-effectiveness. Lastly,
1. Describe the Board’s oversight of climate-related risks investments in verticalization such as 3-D printing allow us to reduce
• Green Leaders teams at manufacturing sites
and opportunities. transportation and sourcing costs as we produce parts in-house.
• Empowered business units implementing actions to meet sustainability
The Board is accountable for overall corporate governance at AGCO and for targets and metrics B. Increased extreme weather (e.g., flood, fire and drought) reduces
protecting the long-term value of AGCO for its stakeholders. The Board has
crop yields and quality.
delegated oversight of AGCO’s sustainability policies, strategies, goals and risks
to a newly established Sustainability Committee of the Board. Strategy Classification: Acute
Impact area: Farmers
AGCO established the Sustainability Committee in April 2022, underpinning our Time horizon: Medium-term
commitment to sustainability as a strategic priority. In addition to overseeing
1. Describe the climate-related risks and opportunities the
AGCO’s sustainability strategy, climate change and other sustainability policies organization has identified over the short-, medium- and Approach: As climate-related weather events can be detrimental
and programs, the Sustainability Committee is responsible for assessing AGCO’s long-term. to the production of crops, we strive to prepare our farmers through
sustainability performance against targets and goals, overseeing processes to education and the development of products and services to
In 2021, AGCO performed an initial baseline analysis workshop in which its
ensure compliance with applicable laws and regulations as well as assessing and adapt to climate-related physical impacts around the world. Soil
TCFD Working Group discussed the TCFD recommendation process and
managing risks relating to sustainability and climate change matters. erosion is increasing, and severe rainfall and droughts are globally
identified a prioritized list of climate-related risks and opportunities. The TCFD
The Sustainability Committee has a formal calendar and is scheduled to meet Working Group began with an initial list of risks and opportunities consisting of becoming more prevalent. We will continue to track and monitor
three times yearly. In addition, the Board reviews sustainability matters at one 12 physical risks, 13 transition risks, and 10 opportunities drawn from industry these trends, educate our employees, and stay close to evolving
meeting of the Board each year. research, benchmarked peers, and the EY Global Climate Risk Barometer. The regulatory developments. We continue to invest in the development
TCFD Working Group then ranked the impact and likelihood of the risks and of technologies that can build resilience for farmers, including smart
The Audit Committee reviews AGCO’s policies with respect to risk assessment
opportunities to develop the prioritized list of eight risks and opportunities for machines that enable farmers to respond to changing environmental
and risk management, including major financial, compliance, political and
scenario analysis. and agronomic conditions, and that can provide a clear return on
operational risk exposures.
investment and improve operational performance. We aim to be
The eight prioritized risks and opportunities were considered over short-
the industry leader in digital and precision ag. We have grown our
2. Describe management’s role in assessing and managing (1–5 years), medium- (6–10 years) and long-term (11–30 years) time horizons.
Precision Planting business significantly in 2022 and this remains a
The risks and opportunities are described below along with their TCFD
climate-related risks and opportunities. classification, area of impact within AGCO’s operations and value chain, and
priority growth initiative in our strategy. Our retrofit business enables
the rapid development and deployment of innovative technologies
Day-to-day accountability for sustainability rests with AGCO’s executive primary time horizon. In 2022, AGCO added a ninth risk (risk G), which has been
to the market that are brand agnostic. Looking ahead, we continue
leadership and our Chief Executive Officer. AGCO’s ESG strategy and initiatives added to the list below.
to proactively seek alignment with strategic partners, increase our
are led by the Senior Vice President, General Counsel, Chief ESG Officer, and
PHYSICAL RISKS: capabilities through strategic acquisition opportunities and target
Corporate Secretary, who reports directly to our Chief Executive Officer. The
focused investments to provide innovative products and services that
Director, Global Corporate Sustainability, reports to the Senior Vice President, A. Disruptions to critical suppliers/supply infrastructure due to climate-
meet farmers’ evolving and complex needs.
General Counsel, Chief ESG Officer, and Corporate Secretary, and is scheduled related extreme weather events.
to make presentations to the Sustainability Committee three times per year and Classification: Acute C. Increased temperatures lead to reduced crop yields from heat stress
directly to the Board annually. Impact area: Supply chain to crops and from increased pests and diseases.
In 2021, a Sustainability Council was established to drive sustainability Time horizon: Medium-term Classification: Chronic
integration across the business and to set operational targets to achieve our Impact area: Farmers
corporate ESG objectives. The Sustainability Council consists of senior leaders Approach: We have increased our resilience to the risk of disruptions Time horizon: Long-term
from across key business units. Supporting the Sustainability Council is the to critical suppliers/supply infrastructure due to climate-related
Director, Global Sustainability, together with the following: extreme weather events by localizing more suppliers, dual-sourcing Approach: To increase resilience and reduce potential impacts to
for critical components, decreasing instances of just-in-time delivery, our revenue streams, we have analyzed regions where temperature
• AGCO’s Sustainability Core Team, which drives the implementation of and investing in verticalization for insourcing. Dual-sourcing allows increase may significantly affect crop production of our farmers.
Sustainability Council decisions and reports on sustainability initiatives AGCO to increase resilience in the case of one supplier being We will continue to track and monitor these trends and stay close
and programs
to evolving regulatory developments. We continue to invest in the where farming will be affected by regulations on water and fertilizer We are also increasing verticalization to improve our resilience and
development of technologies that can build resilience for farmers, use. As part of our smart solutions and precision ag roadmap, we therefore decrease GHG emissions from transportation and supplier
including smart machines that enable farmers to respond to changing continue to invest in product and service innovation, with the goal of manufacturing processes.
environmental and agronomic conditions, and that can provide a enabling a 20% improvement in net farm income by reducing waste
clear return on investment and improve operational performance. and improving yield. New regulations pose a potentially significant G. Increasing frequency and severity of climate hazards generating
We aim to be the industry leader in digital and precision ag. We risk to our farmers, so by partnering with our customers to mitigate financial impacts on company assets.
have grown our Precision Planting business significantly in 2022 and these risks to their businesses, we can capitalize on new product Classification: Physical risk exposure
this remains a priority growth initiative in our strategy. Our retrofit opportunities and drive revenue growth. Impact area: Operations
business enables the rapid development and deployment of innovative Time horizon: Medium-term and Long-term
technologies to the market that are brand agnostic. Looking ahead, F. Costs to develop new low-emission technologies and processes to
we continue to proactively seek alignment with strategic partners, reduce AGCO’s greenhouse gas (GHG) emissions. Approach: In 2022, we completed a physical risk assessment of our
increase our capabilities through strategic acquisition opportunities Classification: Technology top 100 company assets by value against seven climate hazards based
and target focused investments to provide innovative products and Impact area: Operations on CMIP5 and 21 NASA models for RCP 8.5 and RCP 4.5. Modeled
services that meet farmers’ evolving and complex needs. Time horizon: Medium-term physical hazards include temperature extremes, coastal flooding,
drought, wildfire, tropical cyclone, water stress and fluvial flooding.
TRANSITION RISKS: Approach: We currently invest approximately 3.5% of our total We were able to quantify the financial risk impact including
revenue into research and development. Current priorities include
D. Increased operational costs due to carbon pricing/taxes/cap or percentage at risk and absolute risk (mUSD). In both the 2030s and
smart machines, which cover connectivity, automation, and robotics,
increased logistics/supply costs. 2040s scenarios analyzed, we predict a low level of physical risk to the
all of which have an impact on machine use efficiency; and low and
Classification: Policy hazards assessed. Water stress is predicted to be the fastest growing
zero emissions innovations such as electrification of agricultural
Impact area: Operations/Supply chain risk by the 2030s, with the absolute risk on average increasing from a
equipment, improving efficiency of existing engines, and alternative
Time horizon: Medium-term baseline by 27% each year. Coastal flooding is predicted to increase
fuels. In 2022, we launched our CORE engine, a completely new by 15% each year by the end of the 2030s. Also, during the 2030s,
family of diesel engines developed and manufactured by AGCO
Approach: As more countries begin to consider implementing a price wildfire and fluvial flooding are predicted to account for more than
Power. CORE engines are fully compatible with renewable HVO
on carbon, we are focusing efforts on incorporating the effects of 69% of the total financial impact. Water stress and wildfires are
fuels and are designed to be compatible with alternative fuels like predicted to account for more than 68% of the total financial impact
new regulations into our core business. We are assessing potential hydrogen and biogas in the future. We are on track to bring to market
impacts of an internal carbon price to better prepare AGCO for future in the 2040s. Water stress is predicted to be the fastest growing risk
the Fendt e100 Vario, AGCO’s first battery-powered tractor. We
regulations and better position AGCO for investment decisions as we by the 2040s, with the absolute risk, on average, increasing from a
also have a dedicated engineering project team working on defining
propel our business forward. Competition will face similar requirements, baseline by 17% each year. Coastal flooding is predicted to increase
requirements of the next generation of battery electric tractors
so we see regulations as an industry challenge, rather than a risk that by 10% every year by the end of the 2040s.
beyond the Fendt e100.
is specific to AGCO. We are already experiencing higher costs for key We plan to periodically revisit this assessment and are strengthening
commodities such as steel, and we anticipate that these increased With respect to our operations, high energy prices could adversely our localized site reporting of water withdrawal, discharge and
costs will become more prevalent in the future, for example due to the impact our financial results. Higher energy costs increase our consumption through AGCO STAR and will work with sites located in
Carbon Border Adjustment Mechanism (CBAM) regulation in the EU, operating costs. We have taken steps to reduce our GHG emissions areas designated as high-risk for water stress on sustainable water
which is in its transitional phase between 2023–2026. intensity 20% by 2026 through resource conservation initiatives, management strategies.
through smart manufacturing that uses data and technology
E. Increased regulation of water use and/or fertilizer use requiring to reduce waste and increase efficiency and by shifting to 60%
farmers to modify water/fertilizer use or incur additional costs. renewable energy across our manufacturing operations. In 2022,
Classification: Policy we exceeded our initial target and achieved 31% emissions intensity
Impact area: Farmers reduction since 2020. To replace this target, in 2023 we have set
Time horizon: Long-term a new Scope 1 and 2 target of reducing absolute Scope 1+2 GHG
emissions by 55% by 2033 and by 90% by 2050 compared to a
Approach: We are actively engaged with leading industry trade 2022 base year. By 2023, we have reached 72% renewable electricity
associations, and monitoring developments relating to how and and 39% renewable energy across our manufacturing footprint.
OPPORTUNITIES: SUMMARY OF AGCO’S CLIMATE-RELATED RISKS AND OPPORTUNITIES INCLUDED IN SCENARIO ANALYSIS
H. Develop products that support the sequestration of carbon CATEGORY AGCO’S KEY CLIMATE-RELATED RISKS AND OPPORTUNITIES
(trapping more carbon in soil).
Transitional Policy and Legal + Risk of increased operational costs due to carbon pricing/taxes/cap or increased logistics/supply costs
Classification: Products and services + Risk of increased regulation of water use and/or fertilizer use requiring farmers to modify water/fertilizer use or incur additional costs
Impact area: Research and development
Technology + Risk of costs to adopt/deploy new technology and processes to reduce AGCO’s GHG emissions
Time horizon: Short-term
+ Opportunity to develop products that support the sequestration of carbon (trapping more carbon in soil)
+ Opportunity to improve energy efficiency and switch to renewable energy via on-site generation or virtual power purchase agreements (vPPAs), reducing
Approach: We have committed to the development of new sensors, energy costs and emissions, and potentially leveraging an internal carbon price to fund investments
technologies, and machine features to support soil health and carbon
Physical Chronic + Risk of increased temperatures leading to reduced crop yields from heat stress to crops and increases in pests and diseases
sequestration as part of our 2020 sustainability strategy. Our product
portfolio already includes various technologies that help better Acute + Risk of disruptions to critical suppliers/supply infrastructure due to climate-related extreme weather events
manage crop residues, enable cover crop seeding, reduce machine + Risk that increased extreme weather (e.g., flood, fire and drought) reduces crop yields and quality
+ Increasing frequency and severity of climate hazards generating financial impacts on company assets (New 2022)
load, enable no-till planting, and prevent soil erosion and compaction.
In 2022, we launched Radicle Agronomics™, a set of new soil sampling
I. Improve energy efficiency and switch to renewable energy via on-site Centralized energy efficiency tools and internal targets ensure that
and soil-analysis tools designed for use by agronomists to improve
generation or virtual power purchase agreements (vPPAs), reducing across the portfolio we are consistently evaluating and implementing
quality and consistency of soil measurement.
energy costs and emissions, and potentially leveraging an internal energy efficiency projects such as lighting, HVAC system
Radicle Agronomics includes: carbon price to fund investments. improvement, reduction of baseload energy use and replacement of
• Radicle Lab™, the world’s first fully automated soil laboratory. Classification: Resource efficiency and energy source inefficient equipment.
A self-contained, small-footprint, self-calibrating unit with the Impact area: Operations We work to increase the consumption of renewable electricity by
ability to run hundreds of samples completely unattended. Time horizon: Short-term using a combination of solutions across the portfolio, utilizing region-
• Microflow technology™ is the chemistry built into the Radicle Lab and market-specific opportunities such as green supply contracts,
which enables automation of the soil sample analysis. Approach: We are committed to reducing GHG emissions across unbundled EAC purchase projects and the consideration of value-
• GeoPress™ mounts on any field-ready vehicle and automatically our manufacturing facilities and business operations worldwide to adding vPPA agreements.
blends and stores a soil sample in a geo-referenced limit our impact on climate change. In 2022, we exceeded our goal
to decrease operational GHG intensity by 20% from a 2020 baseline In addition to purchasing solutions, on-site solar PV systems are
usable container.
across our manufacturing operations by achieving 31% emissions operational at a number of AGCO sites, and the implementation
• Radicle Agronomics’ cloud-based software connects all steps from of similar systems in other locations are intended to contribute to
intensity reduction. We continue to work toward our goal of 60%
the field to the lab process. reduced energy costs and lead to a reduction of our GHG footprint.
renewable energy consumption across our manufacturing footprint
Beyond this, AGCO is partnering with a number of carbon farming by 2026. We are currently reviewing revised target setting options We are increasing the use of bio-diesel instead of conventional diesel
programs to automate the data-entry and data-transfer process for for emissions reduction across Scope 1 and 2 incorporating our full fuel in on-site vehicles and processes, applying energy- and heat-
farmers seeking to participate in carbon credit programs. global footprint. recovery technologies, and using biomass-based heating solutions,
Energy efficiency measures and the increased use of renewable as well as exploring opportunities in electrification of natural gas and
energy sources will continue to be leveraged to achieve these targets. other fossil fuel usage for processes and on-site vehicles.
2. Describe the impact of climate-related risks and scenario, we predict transition risks to be the main factor in driving business (extreme). The likelihood ratings range from 1 (rare) to 5 (almost certain). As
opportunities, while in the inaction scenario we predict physical impacts to be part of our scenario analysis, we compared the projected physical impacts of
opportunities on the organization’s businesses, strategy,
more prevalent. climate change to key markets in which AGCO operates. We also qualitatively
and financial planning. assessed the impact on AGCO’s supply chain, operations and customers.
We will continue to invest in new technologies not only to reduce our Scope
The TCFD Working Group, representing multiple facets of AGCO’s business, 1 and Scope 2 emissions through renewable energy and energy efficiency
supported AGCO’s 2021 climate scenario analysis of each risk and opportunity. measures, but also to develop products that will allow our farmers to capitalize 2. Describe the organization’s processes for managing
From this analysis, AGCO generally anticipates higher risk exposure in an on opportunities such as precision ag, connectivity, automation, robotics,
inaction scenario (RCP8.5) than in a well-below 2 degree (WB2D), scenario
climate-related risks.
electrification and alternative fuels, thus reducing our Scope 3 emissions as well.
(RCP2.6), specifically pertaining to the identified physical risks. During the annual ERA, countermeasures to reduce these risks are developed as
We will also continue to evaluate implementation of regulations that will affect
part of our risk management approach.
From our 2021 scenario analysis, we recognize that climate-related physical both our business and our farmers with the goal of driving consistent revenue
risks that have the potential to affect crop production could impact our growth for all parties. Lastly, our suppliers play a crucial role in our business, so Climate risks are also integrated into “AGCO STAR” (Sustainability Tracking and
revenue growth and business operations. As part of our strategy, we aim to we will continue working alongside suppliers and industry partners to co-develop Reporting), an ESG information management tool built on the Enablon platform
drive successful outcomes for our farmers and provide the right equipment, new product solutions, minimize delays and increase transparency for our to support our long-term visibility and ongoing identification, assessment and
technology, data and advice to solve farmers’ most pressing challenges, customers. AGCO is a key participant in the agriculture industry, and we believe management of climate-related risks and opportunities. AGCO STAR captures
including the impacts of climate change. Examples include investing in our that our operational agility, and our continued emphasis on understanding both inherent probability and impact as well as residual probability and impact
precision ag capabilities and solutions, rapidly advancing smart machine our potential risks and opportunities, will allow us to have a resilient business following implementation of controls to mitigate risk.
capabilities that leverage data to drive yield improvements and reduce waste strategy that will enable us to live up to our corporate purpose of providing As a continuation of strengthening our risk management processes, in 2022,
and expanding our offering of retrofit technologies and distribution channels to ‘farmer-focused solutions to sustainably feed our world.’ we undertook a quantitative climate risk assessment project to develop a better
rapidly deploy new technologies to the market. understanding of the impact of physical climate change risks to our top 100
We are also working to minimize the risk of disruption to our supply chain Risk Management company assets by value.
through mechanisms such as localization, dual-sourcing and vertical integration
of our supply chain. These mechanisms will better position AGCO to mitigate 1. Describe the organization’s processes for identifying and 3. Describe how processes for identifying, assessing, and
disruptions from climate-related weather impacts.
assessing climate-related risks. managing climate-related risks are integrated into the
AGCO’s existing investments in on-site renewable energy, energy efficiency
In 2021, AGCO established a TCFD Working Group, which included organization’s overall risk management.
programs, electrification of operations and products, and precision ag and
representatives from Risk Management, Legal, Purchasing, Materials and AGCO’s corporate risk framework provides a structured and comprehensive
digitization provide significant prospects to capitalize on the identified
Logistics Management, Sales and Marketing, Finance, Manufacturing Operations approach to identify, prioritize and manage risks across the company. It is
climate‑related opportunities. We anticipate that investments will not only
and Supply Chain, among other functions, to identify and assess climate-related designed to drive consistency across risk type, and to monitor key risks, including
reduce carbon emissions, but also drive revenue growth as society moves
risks and opportunities. The TCFD Working Group worked alongside an external climate change. While risk is monitored and discussed quarterly through our
toward a lower-carbon economy.
consultancy to understand climate-related risks and opportunities specific to the Management Risk Committee as part of standard business operations, the
heavy manufacturing and agriculture industries. Through desk research, peer Board has responsibility for risk oversight, and reviews top-level, strategic,
3. Describe the resilience of the organization’s strategy, benchmarking and review of industry risk barometers, the TCFD Working Group operational, financial and compliance risks.
taking into consideration different climate-related consolidated and prioritized risks and opportunities specific to AGCO for further
analysis and alignment with our ERM criteria.
scenarios, including a 2°C or lower scenario.
Society’s response to climate change will drive the ultimate effects of climate Assessment of sustainability risks – including risks related to climate change
change and climate-related opportunities. We have assessed the priority risks impacts, environmental impact on operations and corporate social responsibility
and opportunities identified by the TCFD Working Group under two different – is integrated into AGCO’s enterprise risk assessment (ERA) process.
climate scenarios: one aligned to RCP 2.6 that captures aggressive mitigation, Sustainability risks, including climate risks are assessed together with strategic,
and one aligned to RCP 8.5 that represents the worst-case scenario. As climate operational, financial and legal risks annually.
change continues to affect the means by which we do business, we will continue Each identified risk and opportunity is prioritized by impact and likelihood. Our
to monitor the landscape to determine which scenario unfolds. In a WB2D enterprise risk management impact ratings range from 1 (insignificant) to 5
Metrics and Targets 3. Describe the targets used by the organization to manage
climate-related risks and opportunities and performance
1. Disclose the metrics used by the organization to assess against targets.
climate-related risks and opportunities in line with its AGCO is continuously increasing the level of ambition of our climate mitigation
strategy and risk management process. efforts. We have formally set the following goals:
At AGCO, we recognize the threats presented by climate change and climate- • to decrease absolute Scope 1 and Scope 2 GHG emissions by 55% by
related events and incorporate those threats into our risk mitigation strategies. 2033 and by 90% by 2050 compared to a 2022 base year (new target
To determine the consequences and likely timelines of these threats, we continue announced in 2023);
to monitor several metrics including global carbon prices, technology innovation, • to reach 60% renewable energy at our manufacturing facilities by 2026;
and climate-related weather events. Additionally, we monitor global GHG
• to expand our Reman offering, targeting 150% of 2020 baseline
emission regulations and trends to determine whether the business-as-usual or
revenue by 2025;
the WB2D scenario is more likely to occur.
• to deliver a 100% connected fleet by 2025; and
2. Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 • to make the Fendt e100, a fully electric battery tractor, commercially
available before 2025.
greenhouse gas (GHG) emissions, and the related risks.
New products such as the Fendt e100 and our investment in precision ag
AGCO’s first GHG emissions inventory covered our footprint from our direct technologies are examples of how AGCO is taking part in the transition to a low-
operations within our manufacturing facilities and were used as a baseline for carbon economy.
setting our current targets. Our GHG emissions 2020 baseline is as follows:
Scope 1: 50,269 tCO2e We disclose climate-related metrics to track progress toward our goals in our
Scope 2: Location-based: 91,287 tCO2e annual Sustainability Report. Our AGCO STAR sustainability tracking and
Scope 2: Market-based: 50,259 tCO2e reporting system is now rolled out globally and assists with the tracking of our
performance against our corporate sustainability goals.
In 2022, we calculated the Scope 1 and 2 emissions for our total
business operations, expanding the population from manufacturing sites
only as reported in 2020 and 2021. This expanded number of locations
covers various facility types including manufacturing sites, warehouses,
assembly centers and offices. For transparency, consistency and tracking
progress against our initial targets, we will continue to report Scope 1
and 2 emissions of our manufacturing facilities separately as well as the
emissions of our total business operations.
We are using Scope 2 market-based figures for reporting and target
progress-tracking purposes. Scope 2 location-based figures are tracked
for information only.
In 2022, for the first time and coupled with a materiality assessment, we have
calculated our Scope 3 value chain emissions. Our 2021 inventory and current year
Scope 3 emissions are outlined in GRI 305-3.

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Farmer First.

Introduction 2 Purpose-Driven Innovation 13 Environmental Sustainability 35

Social Impact 48 Governance 62 Index 71

70 Prioritizing cybersecurity and data privacy

A letter from our CEO

“ In 2023, we accelerated our

In 2023, we accelerated our Farmer-First strategy to provide farmers with

Our purpose Our vision

Countries in our Countries where Leading global Dealers and

2023 sustainability highlights

Investing in PRODUCT INNOVATION

Promoting ENVIRONMENTAL SUSTAINABILITY

Delivering SOCIAL IMPACT

Our approach to sustainability

“  ustainability is integrated throughout our core business

To be truly Farmer First, it is essential we

Demonstrating progress on our commitments

COMMITMENTS ACTION 2023 PROGRESS

DECARBONIZING OUR OPERATIONS AND VALUE CHAIN

REDUCING THE ENVIRONMENTAL IMPACT OF OPERATIONS

COMMITMENTS ACTION 2023 PROGRESS

SOIL HEALTH AND CARBON SEQUESTRATION

Achieve a 100% connected fleet by 2025 • 85% of global fleet connected*

PROMOTING ANIMAL WELFARE

COMMITMENTS ACTION 2023 PROGRESS

ELEVATING EMPLOYEE HEALTH AND SAFETY

OUR GLOBAL WORKFORCE

Reach 25% women in leadership by 2030 • 19% women in leadership in 2023

ESG ratings and recognition

1. Scores without modeled score adjustment

ESG ratings and recognition (continued)

UN Global Compact Award

Solutions to help farmers Our approach to innovation

sustainably feed the world

Provide exceptional Empower farmers to Deliver high-quality, smart

Our growing product portfolio is at the heart of

Innovations that put farmers first Automation and connectivity

Enhanced precision at every step

Delivering a wider spectrum of power

As we bring new products to market, we are also building

TOWARD A LOW CARBON FUTURE

Our path to clean energy products

Our latest clean-tech innovations

CORE50 eHydrogen: The benefits of hydrogen and electricity combined

AGCO Power Microgrid: Providing intelligent power storage and control

“  griculture is currently going through a transformation and is

AGCO Power is partnering with VTT and playing a critical

Enhancing precision at every step

In research trials conducted at AGCO’s

Achieving scale through retrofit

AGCO Trimble Precision Ag Estimate based on the North American market

*Revenue estimate includes pro forma impact of AGCO/ Trimble

Delivering the next generation of mixed-fleet solutions with Trimble

“ This landmark transaction creates a JV that, upon close, is expected to become

1. World Wildlife Foundation, “Water Scarcity.”

Targeted solutions for each phase of the crop cycle

Maintaining productive soil

Building automation Leveraging connected data

85% performance while rewarding them for

Enhancing the customer experience Developing smarter machines

“ ustainability is integrated throughout our core business

“ griculture is currently going through a transformation and is

*Revenue estimate includes pro forma impact of AGCO/ Trimble

“ e are in a relentless pursuit of operational excellence, where

“ hen our people, our farmers and our communities