2024 Annual Report - Black Jaguar Foundation by Black Jaguar Foundation - BJF

ANNUAL REPORT 2024 BLACK JAGUAR FOUNDATION

“The future depends on what we do in the present.”

Mahatma Gandhi

MISSION & VALUES

It is too late to be a pessimist.

The Black Jaguar Foundation is driven by a deep commitment to the environment, fueled by our team’s determination, passion, and innovation.

Our objective is ambitious: to plant over 1.7 billion native trees to realise the Araguaia Biodiversity Corridor. This will revitalise Cerrado Savanna & Amazon Rainforest and contribute to the preservation of our planet for future generations.

Over the years we have developed the BJF cycle of 17 steps of restoration, starting with the local community, followed by the science, the planting and the years of maintenance and care.

The impact for each of us will be extraordinary and so is the scope of this project. We cannot achieve it alone.

Realising the Araguaia Biodiversity Corridor is only possible with the support of like-minded individuals, global partners and local farmers.

That’s why we’re grateful for all your continuous support!

Watch our initiator’s thank you message showing how your support is contributing to our mission of hope and action!

MESSAGE FROM THE BOARD

At Black Jaguar Foundation, we believe in the power of collective action to restore our planet. In 2024, the urgency of tackling climate change, biodiversity loss, and ecosystem collapse grew stronger. While global commitments at events like COP30 showed promise, the gap between pledges and real impact remains wide. Fortunately, the movement for ecological restoration continues to gain momentum, and we are proud to contribute.

This year brought both progress and challenges. Our largescale nursery was rebuilt and upgraded to better withstand extreme weather. We expanded our operations to 22 partner farms along the Araguaia Biodiversity Corridor, continuing to follow our science-based 17-step restoration cycle.

In the second half of 2024, we began elaborative preparations for the 2024/2025 planting season. We prepared 236 hectares of land to be restored, installed 67.92 kilometers of fencing, and began planting in November. By December, 38 hectares had been planted with 95,000 trees. The season includes the preparation of 146,000 seedlings and purchase of 2,429.6 kg of native seeds for direct seeding. We continue to make the 2024/2025 season a huge success into 2025.

Our Araguaia Seed Network, Ressemear, continued to grow, with more local collectors, greater species diversity, and stronger community ties. This initiative is becoming a model for inclusive restoration and regenerative economies, being the direct supplier of our local seeds.

For the 2024/2025 planting season, we prepared 236 hectares of land to be restored, installed 67.92 kilometers of fencing, and began planting in November.

The 2023/2024 planting season was full of challenges in which we restored 57.91 hectares restored and 144,775 native trees planted. Unpredictable weather conditions significantly delayed fieldwork and limited planting capacity. Despite this, our team remained committed and used the time to prepare for a major scale-up. We did spend a large part of our resources on maintenance and monitoring to make sure the ecosystem comes back on all the restoration sites we have under restoration until now.

Flavia da Cruz Carneiro Board member

Brasil

Camila Lefèvre

Across Brazil and Europe, our teams showed resilience and dedication, overcoming logistical challenges and securing the support needed to keep scaling our efforts. We also welcomed new partnerships in Brazil, the UK, Switzerland and Germany, while strengthening long-term collaborations with our loyal partners.

We remain united by one clear vision: to realize the Araguaia Biodiversity Corridor, one of the world’s longest nature corridors, for the benefit of all future generations in the coming 20 years.

IT’S TOO LATE TO BE A PESSIMIST LET’S MAKE POSITIVE IMPACTS TOGETHER!

TOGETHER WE ARE RESTORING THE BALANCE BETWEEN NATURE AND HUMANKIND...

REALISING THE LONGEST BIODIVERSITY CORRIDOR AND ONE OF THE LARGEST REFORESTATION PROJECTS ON EARTH!

Marie van der Heijden

THE ARAGUAIA BIODIVERSITY CORRIDOR

HAS THE SIZE TO TRULY MAKE A DIFFERENCE!

2600km long 40km wide 1 million hectares to restore 1.7 billion native trees to plant

IMPACT OF THE ARAGUAIA CORRIDOR

1 million hectares to restore 1.7 billion native trees to plant +20.000 jobs in restoration in avoided costs for the planet.

BIODIVERSITY | WATER | CREATING JOBS

78 + native species currently being grown

Nursery producing + 500,000 seedlings

THE IMPORTANCE OF THE AMAZON AND CERRADO IN ARAGUAIA BIODIVERSITY CORRIDOR

Without forests, we would not have rain or agriculture. Brazil is one of the world‘s largest agricultural producers feeding the world.

The resilience of global human food systems and their capacity to adapt to change depends on biodiversity and healthy rain cycles.

Through ecological restoration, we can fight the climate crisis, give hope, and show that together we can restore the balance between nature and humankind!

IMPACT OF THE ARAGUAIA CORRIDOR

The Araguaia Corridor is both an environmental and a social project. Through ecological restoration in the Amazon Forest and Cerrado Savanna, we are combatting deforestation and biodiversity loss, while simultaneously empowering local communities by creating jobs and local opportunities.

“A Lens on the Ground” zooms into the Araguaia Biodiversity Corridor and showcases the stories of our team – making it clear that ecological restoration starts with the communities on the ground! Through a visual story, we showed the faces behind our restoration processes, emphasizing the motivation of the BJF team to create positive change in their communities and the incredible progress made so far.

The documentary highlights the benefits that come with ecological restoration, focusing on local communities and Santana do Araguaia’s economy. As explained in the documentary, prior to the BJF starting its operations in Santana do Araguaia, the city did not have such a vast job market in ecological restoration. Now, environmental engineers, forest engineers, and field professionals living in the region are able to work there whereas before they may have considered relocating to a different city to find employment.

A Lens on the Ground:

THE STORIES BEHIND THE ARAGUAIA BIODIVERSITY CORRIDOR

MORE THAN PLANTING TREES

more than planting trees ARAGUAIA BIODIVERSITY CORRIDOR

The following are some of the steps in our restoration process:

THE BJF RESTORATION CYCLE

17 steps to bring back healthy forests

COMMUNITY ENGAGEMENT LANDOWNER PARTNERSHIPS

FIRE BRIGADE ENVIRONMENTAL EDUCATION

FIRE PREVENTION UP TO 20 YEARS OF MONITORING

3 YEAR MAINTENANCE & CARE

MAPPING BIODIVERSITY PLANNING

SCIENTIFIC PARTNERSHIPS EVIDENCE BASED RESTORATION

PLANTING TREES & SEEDS

SOIL PREPARATION AND RECOVERY

LOGISTICS FENCE CONSTRUCTION

SEED COLLECTION SEEDLING PRODUCTION

THE BJF RESTORATION CYCLE

17 steps to bring back healthy forests

COMMUNITY ENGAGEMENT

Working together with local communities, schools, technical partners and other non-profits.

Lecturing on the importance of ecological restoration. 1 2 3 4

LANDOWNER PARTNERSHIPS

Helping farmers with restoration and compliance with the Forest Code.

FIRE BRIGADE

Providing training to prevent and control fires and supplying fire brigade tools.

ENVIRONMENTAL EDUCATION

THE BJF RESTORATION CYCLE

17 steps to bring back healthy forests

MAPPING AND VALIDATION

SCIENCE

Assessment of the land, to map the areas that need to be restored.

Experience, research and knowledge, in close collaboration with leading institutions and partners. 5 6 7 8

BIODIVERSITY PLANNING SCIENTIFIC PARTNERSHIPS EVIDENCE BASED RESTORATION

Evaluating the right combination of native trees to select the methods of restoration.

Making sure we follow the highest possible standards of restoration.

THE BJF RESTORATION CYCLE

17 steps to bring back healthy forests

OUR OWN TREE NURSERY

PLANTING

Restoration, with love and care: on average 2,500 trees per hectare, planted by hand by our local team. 9 10 11 12 13 14

We build, develop and operate our own tree nurseries to grow local tree species.

SEED COLLECTION SOIL PREPARATION

BUILDING FENCES

LOGISTICS PLANTING TREES & SEEDS

In cooperation with local seed collectors, specific seeds are collected.

Equalizing the land and removing rocks, stones, and trunks.

Construction of fences to protect our growing trees where they are vulnerable to cattle.

Our restoration sites are dispersed in remote areas with long distances in between.

17 steps to bring back healthy forests

3 YEAR CARE

WORK ON THE GROUND

The Black Jaguar Foundation’s planting season video shows how we will be planting 1.7 billion trees with local landowners and how far we are today.

With your support, we are growing, developing the BJF Nursery, improving our restoration techniques, and most importantly, bringing back life!

Watch it and have a look at the progress that has been made so far to reach our goal of restoring the balance between nature and humankind!

Planting Season BLACK JAGUAR FOUNDATION

2024 MILESTONES

RESULTS OF 2023/2024 PLANTING SEASON

AND THE PREPARATIONS FOR THE LARGEST PLANTING

SEASON IN OUR HISTORY

The year 2024 was marked by significant progress in the Black Jaguar Foundation’s ecological restoration efforts.

In the first half of the year, we completed the 2023/2024 planting season with the restoration of 57,91 hectares, the equivalent of 144,775 native trees in the heart of the Araguaia Biodiversity Corridor.

2024/2025 PLANTING SEASON

With the rainy season behind us, our team is preparing for the largest planting season yet: we aim to restore 236 hectares — more than we had accomplished in any previous planting season. This milestone will represent over 590,000 native trees contributing to the recovery of the biomes and the region’s climate resilience.

To make this ambitious goal possible, extensive preparations were set in motion. Our team will produce 146,000 seedlings in our nursery and will prepare 2.430 kg of muvuca — a mix of seeds with more than 70 native species. In addition, 68 kilometers of fences will be installed to protect our restoration areas.

This production will be possible with the support of Ressemear, the BJF Araguaia Seed Network, which now includes 70 collectors and generates socio-economic impact for local communities.

2024 MILESTONES

THE BJF NURSERY IS STRONGER THAN

EVER AFTER RECONSTRUCTION

In October of 2023, our nursery was hit by a strong storm with strong winds in Santana do Araguaia (Pará, Brazil). At the time, we lost several seedlings that would be taken to the restoration areas and our inside nursery suffered severe damage to its structure.

After a fundraising campaign and thanks to contributions from our supporters, during March of 2024, we were able to rebuild our large-scale nursery with a reinforced structure to make our nursery stronger and more resilient than ever!

A CENTER FOR THE RESTORATION OF LIFE

Opened in 2022, our nursery is becoming a vector for local development, income and employment generation and environmental education. +78 NATIVE SPECIES +500k SEEDLINGS PER YEAR

2024 MILESTONES

BLACK JAGUAR FOUNDATION

PRESENT(S) AT THE

WORLD ECONOMIC FORUM

On 15 January 2024 we presented our mission to realize the Araguaia Biodiversity Corridor, at the Climate Hub in collaboration with GreenUp, supported by the World Economic Forum and the City of Davos.

We are honoured and proud that Prof. Carlos Nobre became our official Ambassador! As one of the most renowned Earth System Scientist, Nobel prize winner and guardian of the Amazon, Carlos Nobre represents the science and the importance beyond our project, and the necessity to take action now.

Our mission of Hope and Action, is backed up by science, our impact study and ambassadors such as Carlos Nobre that advocate the positive social and environmental effects the 2600 km long Araguaia Corridor will create in the region and beyond.

Not only did we meet a lot of new people and made the first steps in building new long-term partnerships. It was also a great opportunity to connect and re-connect to our existing partners, learn from other NGOs and leaders in the field of restoration and biodiversity and work together with the BJF Team.

Watch the inspiring video by the BJF Ambassador Carlos Nobre!

BLACK JAGUAR FOUNDATION HOSTS A FUNDRAISING DINNER IN DE L’EUROPE AMSTERDAM

On November 13th, the Black Jaguar Foundation held a fundraising event at Hotel De L’Europe Amsterdam – where the two star + 1 green star Flore Restaurant set the stage for an impactful evening! The goal of the fundraising dinner in De L’Europe was to gather financial support for Black Jaguar Foundation and invite potential partners and donors to get to know our work as well as update existing partners.

The event featured a dinner, with presentations and testimonials from those directly involved with the foundation’s projects. The ongoing dedication of some of our loyal partners to support our project of Hope and Action brings us closer to achieving our goals. At the same time we motivated other potential partners to become involved and make substantial support to our mission.

During the dinner, all guests felt engaged, motivated, energised and enthusiastic about the project. There was a clear call to action and we would like to thank all of our supporters for making this event memorable and successful!

2024 MILESTONES

The 1st Ressemear (BJF Araguaia Seed Network) meeting, held in October of 2024, was incredible!

Since it’s impossible to describe everything that happened over those two days, we’ve put together a video highlighting the most memorable moments and testimonials from those who made a difference. Get inspired by this amazing community mobilization project in the Araguaia region!

BLACK JAGUAR FOUNDATION ORGANIZES THE 1ST BJF ARAGUAIA SEED NETWORK MEETING

2024 MILESTONES

1ST BJF ARAGUAIA

SEED

NETWORK MEETING

After nearly three years of mobilizing local communities in the Araguaia region, the Black Jaguar Foundation hosted the 1st Ressemear Meeting – the BJF Araguaia Seed Network gathering in Santana do Araguaia, Pará – Brazil.

The meeting brought together seed collectors from Pará and Tocantins, the Black Jaguar Foundation team – founders and developers of the initiative – and representatives from Redário, the Xingu Seed Network, and external buyers.

The collectors visited the Black Jaguar Foundation’s nursery—where the magic happens! This is where many of the seeds they collect are transformed into seedlings or into rich muvuca mixes to restore areas of the Araguaia Biodiversity Corridor.

They also got their hands dirty preparing a muvuca mix with over 30 native species they had collected, destined to restore 20 hectares this planting season!

In small groups, the collectors discuss the Ressemear’s next steps. At the end, we celebrated the achievements of 2024 so far and recognized standout collectors for their exceptional contributions in quantity and variety of seeds collected.

2024 MILESTONES

ENVIRONMENTAL EDUCATION:

THE IMPACT OF THE BLACK JAGUAR FOUNDATION IN 2024

Environmental education is essential to reinforce awareness about the importance of preserving our forests. That’s why, in 2024, we intensified our visits to schools and educational institutions in Santana do Araguaia. The results were remarkable! Check it out:

Over 12 months, we carried out 15 environmental education activities in 7 educational institutions, impacting more than 1,600 children in Santana do Araguaia (Pará). And the best part? They loved it!

To make learning more fun, the Black Jaguar Foundation created a comic book to illustrate our work in the Araguaia region and highlight the importance of preserving and restoring the Amazon and Cerrado biomes. We’re sure the children of Santana do Araguaia are already active agents of transformation in protecting our biomes!

COMIC BOOK: RESTORATION HEROES!

EMPOWERING COMMUNITIES

EMPOWERING LOCAL COMMUNITIES

SYMBOLIC PLANTING TO SHOW THE IMPORTANCE OF PRESERVING OUR FORESTS

To raise awareness among future generations, in 2024, we carried out symbolic plantings of native trees with our partner farmers and their children!

These trees will grow together with the children who, in the future, will be responsible for protecting our forests.

WE PARTICIPATED IN THE 3RD ANNUAL REDÁRIO CONFERENCE

Laís, our seed production analyst, and Maria do Socorro, seed collector of the Araguaia Seed Network participated in the 3rd Annual Redário Conference!

It was inspiring to see Seed Networks from various regions of Brazil coming together at this event, fostering rich exchanges of experiences and learnings!

2024 CALENDARS FOR OUR RESSEMEAR (ARAGUAIA SEED NETWORK) MEMBERS

To celebrate the achievements of the Araguaia Seed Network throughout 2023, we produced a calendar with their new visual branding.

The 2024 calendar is illustrated with the region’s most important species and included a table with the development time of the more than 70 local species present in our restoration projects.

CONNECTING DE HEUS TEAM AND THE BJF LOCAL PARNER FARMERS

We supported a meeting between some of our important partners: De Heus Animal Nutrition and farmers from Santana do Araguaia.

We had the opportunity to strengthen ties and share experiences that show how ecological restoration and agricultural production can go hand in hand!

BRAZILIANS INTERESTED IN MITIGATING CLIMATE CHANGE VISIT BJF OFFICE IN AMSTERDAM

We hosted a group of Brazilian students passionate about environmental protection to share experiences with our founder, Ben Valks! Ben Valks presented our project and led a workshop for the visitors.

We’d like to thank Diogo Trindade Magalhães from the University of Goiás, who reached out to us to help organize this partnership!

OUTREACH

BLACK JAGUAR FOUNDATION PRESENTS AT LEGAL AMAZON ENVIRONMENTAL FORUM

We were invited to present at the Forum of Environmental Secretaries of the Legal Amazon.

During the meet, we had the opportunity to explain our ecological restoration project, exchange experiences with other sectors and promote the Araguaia Biodiversity Corridor for the states that are part of the Legal Amazon.

BRAZILIAN FOREST SERVICE VISITS THE ARAGUAIA BIODIVERSITY CORRIDOR! MEETINGS IN BRASÍLIA TO ADVANCE THE ARAGUAIA BIODIVERSITY CORRIDOR

We connected with various institutions and agencies, such as BID and ICMBio, where we presented our project and discussed potential partnerships in conservation units. This was a valuable opportunity to showcase our initiatives and seek the necessary accreditation to participate in calls for proposals aimed at recovering degraded areas.

We welcomed another special visit: The Brazilian Forest Service, part of the Ministry of the Environment and Climate Change. They traveled to Santana do Araguaia (Pará, Brazil) to learn about our project and witness its impact in the region. Exchanges like this inspire us to keep moving forward, with partnerships that believe in the potential of a greener future.

IN THE PRESS

ARAGUAIA BIODIVERSITY

CORRIDOR SCIENTIFIC STUDY FEATURED IN ELSEVIER

The research seeks to quantify and understand the economic, social and environmental impacts of the corridor, as well as the cost of carrying out this ambitious project. Read the full impact study here!

REPLANTING THE AMAZON COULD HELP SAVE

THE WORLD’S CLIMATE

Reuters published a Special Report on the challenges of restoring the Amazon. We are very honoured that we have been selected as one of the two leading organisations in Brazil carrying out ecological restoration.

PLANTING 1.7 BILLION TREES IN BRAZIL: ‘WITHOUT A GOAL YOU ACHIEVE NOTHING’

BJF was featured in one of the largest newspapers in the Netherlands! Read the article (in Dutch) scanning the QR Code below and find out how we are creating a ecological corridor in the heart of Brazil.

THOSE WHO LOVE, PLANT –AN INTERVIEW BY BJF FRIEND ANDREA DREESMANN

We were also featured in Forbes Brasil! The article described how our loyal BJF Friend, Ms. Andrea Dreesmann, started her company TreeLove to exclusively support the Black Jaguar Foundation.

RESTORATION

YEAR 1 YEAR 2

NURSERY: BJF FACTORY OF LIFE

NURSERY DEVELOPMENTS

THE SURROUNDINGS OF OUR NURSERY GREENER THAN EVER

Our nursery is located within the Environmental Park of Santana do Araguaia (PA) - and part of our commitment to the municipality is to restore a Permanent Preservation Area (APP) located in its surroundings. See how in the last 12 months we have transformed the landscape!

OUR NURSERY BEGINS SEEDLING PRODUCTION FOR 24/25 PLANTING SEASON

Stronger than ever, our nursery team worked intensely on producing seedlings for the 2024/2025 planting season.

Thousands of seedlings were sent to our restoration sites and are becoming resilient trees in the Araguaia Biodiversity Corridor!

BJF NURSERY: A PLACE FOR ENVIRONMENTAL EDUCATION

In addition to producing hundreds of thousands of seedlings every year, the BJF Nursery is also a place to learn about the importance of preserving the environment.

In 2024, we received several visits from students to present the work we are doing in the region.

GROWING 78 NATIVE TREE SPECIES IN THE BJF NURSERY

Currently, we use about 78 different species of trees in our restoration projects! Among these, some are adapted to flooded soils, while others thrive in drier regions. Depending on the technique used in the restoration site, the key species planted differ. In that way, we are contributing to enriching the region’s biodiversity.

PLANTING

LEGAL RESERVE RESTORED IN THE 23’/24’ PLANTING SEASON

In this area, located on one of our partner farms, our technical team carried out ecological restoration through the planting of seedlings. Implementation took place between December 2023 and January 2024.

We can’t wait to see this area transforming into a healthy and resilient ecosystem in a few months!

RESTORATION SITES AFTER NEARLY 5 YEARS!

The image above showcases one of the first sites restored by Black Jaguar Foundation nearly five years ago!

As you can see, a young forest has already taken root, where maintenance is no longer needed. Native trees that we didn’t plant are thriving, creating a perfect environment for biodiversity to flourish.

WE HAVE CONCLUDED THE 2023/2024 PLANTING SEASON

We are happy to announce that we have successfully completed another planting season in the Araguaia Biodiversity Corridor!

144,775 native trees were planted and 57,91 hectares were restored transforming the landscape in the heart of Brazil. We have made progress in creating one of the largest ecological corridors in the world!

PREPARATIONS FOR THE 2024/2025 PLANTING SEASON

In early October, we completed soil preparation to welcome seedlings and seeds of native trees!

With the areas ready, planting began in earnest. Just 15 days later, the first seeds had already sprouted into healthy young seedlings, ready to grow and transform the landscape of the region!

MAPPING

Mapping is a vital part of determining which parts of land in a given property need to be ecologically restored.

At the Black Jaguar Foundation, our Mapping Analyst, Clarissa Sciarra, is in charge of the mapping process.

In Brazil, rural properties fall under the ‘Rural Environmental Registry’ (CAR). Under CAR, landowners are required to map and classify their land, with the purpose of integrating environmental information for the purposes of monitoring, environmental and economic planning and combating deforestation.

We help landowners map their property to determine which parts of their land they are legally required to preserve, and how we can help them restore these parts of their property.

On the left are illustrative maps of the property Fazenda Caseara.

21 hectares of Fazenda Caseara have been validated, of which 14 hectares will be restored.

MAPS OF PROPERTY: FAZENDA CASEARA

VALIDATION

Validation is a process crucial for effective restoration. This process helps the field team decide which areas to restore, and how to restore these with the applying of biodiversity planning. Following the completion of the mapping process, our validation team visits each site to validate its restoration potential.

Currently, our validation team consists of 5 restoration analysts: Ingrid da Silva Almeida, Marina Costa de Sousa, Yandro Santa Ataide and Ygor Pinto Oliveira.

During visits to the mapped areas to be restored, they assess four main factors:

ACCESS TO THE AREA

VEGETATION COVER AND LAND USE

CHARACTERISTICS OF THE REGION

BIODIVERSITY PLANNING

Based on the above factors, validation helps define which of the mapped areas can indeed be restored, and determine which method of restoration is best.

After validation, there is a calculation of the total restorable area that the BJF can restore using one of its five restoration methods.

LANDRAISING

THE FARMERS THAT MAKE IT HAPPEN

Thanks to the hard work and determination of our Landraising Team, 2024 turned out another successful year of landowner partnerships for the Black Jaguar Foundation. With an increased focus on strengthening our local presence in the project region, our landowner community has become even stronger.

A HUGE THANK YOU TO THE TEAMS AT:

AGROPECUÁRIA BRANDELERO

FAZENDA BELA VISTA

GRUPO VALDOCIR ROVARIS

FAZENDA SERRA MORENA

FAZENDA SANTA FÉ

FAZENDA H3C

GRUPO SF AGRO

FAZENDA CANTÃO

GRUPO SANTA BÁRBARA

FAZENDA SHALLON I & II

FORT AGRO

FAZENDA SANTA TEREZINHA

BC AGRO

GRUPO CINCO T

FAZENDA CAMAÇARI

OUR LANDOWNER HEROES: RAFAEL REZENDE, FROM SANTA FÉ FARM

We work together with landowners to create a restoration model that works for them. Providing technical, legal, and financial support to incentivise restoration and create a win-win-win partnership.

Santa Fé Farm was the first properties to become a partner of the Black Jaguar Foundation, back in 2016. Their commitment to nature led them to believe in our ecological restoration project, the Araguaia Biodiversity Corridor, and to support the initiative.

In the 2018/2019 planting season, we launched our Pilot Project at Fazenda Santa Fé, planting 20,000 trees. Since then, the work has continued to progress. By the 2022/2023 planting season, 120,000 trees had been planted across approximately 60 hectares.

Watch Rafael’s video testimonial to learn more about our partnership with Santa Fé Farm.

“A partnership based on important principles: the mitigation of the climate crisis, which is a concrete risk, and the increase in local biodiversity, which eas greatly damaged by illegal deforestation that ocurred in the region in the past”

Rafael Rezende, from Santa Fé Farm

OUR LANDOWNER HEROES:

CARLOS FELIX, OWNER OF BELAVISTA FARM

Carlos Felix and his wife Regina are the owners of the Belavista farm, in the heart of the Araguaia Biodiversity Corridor.

We are extremely excited to have them join our journey to realise the Araguaia Biodiversity Corridor. At the Black Jaguar Foundation, we believe that connecting with where our food comes from is the first step in transforming food systems.

It motivates us to see that farmers in the region acknowledge the importance of ensuring our ecosystem’s health and are passionate about creating a better world for our future generations.

“Our biggest wealth today is water, our biggest treasure is rain”.

Carlos Felix, Fazenda Bela Vista

FUNDRAISING

KEY SPONSOR PARTNERS

Over 120 partners are currently contributing to our mission of hope and action! A special thank you to the following loyal sponsors:

ECONOMIC FEDERAL BANK

CORPORATE PARTNERSHIPS

STARTS LONG-TERM PHILANTHROPIC PARTNERSHIP WITH THE BJF

Rabobank has joined BJF as philanthropic partner in our efforts to realize the Araguaia Biodiversity Corridor— the world’s longest biodiversity corridor.

Rabobank is an international cooperative bank with Dutch origins, worldwide focused on the Food & Agri sector.

The long-term partnership and donations from Rabobank will help us to scale our impact, making true infrastructural progress in restoring biodiversity and empowering local communities. Examples include:

• Improving the infrastructure and capacity of our seedling nursery;

• Creating green jobs in local communities;

• Expanding partnerships with local farmers;

• Utilizing new technologies in ecological restoration in Brazil;

• Improving and expanding our organization structure.

In addition, the donation will enable us to expand our operations towards the North in the Araguaia Biodiversity Corridor by developing our second Hub of Restoration.

This collaboration is built on a shared recognition of the urgent need for ecosystem restoration and a belief in the power of collective action to drive impact in line with our long-term goals.

CORPORATE PARTNERSHIPS

THREE YEARS OF A SUCCESSFUL PARTNERSHIP

In 2022 we signed a € 4M partnership with CAIXA Social Environmental Fund (FSA) to support the planting of 1 million trees in the Araguaia Biodiversity Corridor!

Caixa Econômica Federal is one of the two federal banks in Brazil and the fourth largest financial institute in Latin America. Their SocialEnvironmental Fund is an initiative that was started by the Brazilian bank in 2010, with the aim of using resources to support social-environmental projects and investments.

CAIXA is supporting us with the 4 specific objectives which are the focus of the BJF cycle of ecological restoration: community engagement, ecological restoration, maintenance of our restored sites, and monitoring of the restoration activities together with an assessment of the impact generated.

The technical team from Caixa Federal Bank’s Socio-Environmental Fund, visited the Araguaia Biodiversity Corridor to witness the transformative impact of the work we are conducting in the region.

During the visit, the team met with our collectors from Ressemear (Araguaia Seed Network), visited schools where we conduct environmental classes, and toured the restoration areas from previous planting seasons.

We visited rural settlement to speak with seed collectors from Ressemear (Araguaia Seed Network), witnessing firsthand the crucial role of Black Jaguar Foundation in environmental education and in generating income and opportunities for local communities.

In Santana do Araguaia, we visited restoration sites with 2 years old. There, our visitors witnessed the direct results of the restoration cycle in a permanent preservation area, where a well-established restoration is already apparent.

The day concluded with a visit to the Black Jaguar Foundation Nursery, where Norivânia Diniz, seedling production analyst, explained the germination and production processes of thousands of native seedlings for the upcoming planting season.

CORPORATE PARTNERSHIPS

ROYAL DE HEUS CONTINUES ITS LONG-TERM PARTNERSHIP WITH THE BJF

Royal De Heus has once again shown their longterm support and dedication to our project by renewing their yearly commitment to our cycle of 17 steps of ecological restoration.

Thanks to the continued contributions in 2024, we’ve been able to strengthen our nursery, grow our team, expand the Araguaia Seed Collective, and provide valuable training to the local community, as well as environmental education.

Together all of this, is enabling us to plant even more trees and bring the vision of the Araguaia Biodiversity Corridor closer to reality.

DE HEUS VISITS CORRIDOR AND STRENGTHENS PARTNERSHIP WITH RURAL PRODUCERS

Our long-term partner De Heus represented by Rinus Donkers (LATAM director) and Ademir Pereira (Business Manager at De Heus Brasil), visited the Araguaia Biodiversity Corridor and had the opportunity to witness firsthand the environmental restoration preservation impact and the results of joint efforts between De Heus, Black Jaguar Foundation, and local farmers!

During his first visit to the project, Rinus Donkers emphasized the importance of building trust between Black Jaguar Foundation, local communities, rural landowners, and members of Ressemear (Araguaia Seed Network).

While visiting the restoration areas, Rinus highlighted that “even the most skeptical producers now support the organization and are open to receiving people to show this. It’s truly impressive to see how reforested riparian areas, planted around a year and a half to four years ago, have transformed into real forests, with a biodiversity of at least thirty to seventy different species.”

Watch Rinus Donkers (Latin America Director) about the long-term partnership between De Heus, Black Jaguar Foundation & local communities in the Araguaia region!

CORPORATE PARTNERSHIPS

UBS OPTIMUS FOUNDATION SELECTS BLACK JAGUAR FOUNDATION AS A NEW PARTNER!

The UBS Optimus Foundation is the philanthropic arm of UBS, one of the world’s leading wealth management banks. The foundation supports a select group of highimpact non-profit initiatives worldwide, chosen based on rigorous criteria, that address critical social and environmental challenges through strategic funding and collaboration.

In 2024, Black Jaguar Foundation successfully completed UBS’s due diligence process and was selected as a UBS Bank Climate & Environment Partner — one of the few Brazilian NGOs to receive this recognition.

This partnership goes beyond financial contributions. In addition to the opportunity for a portion of your donation to be matched by the UBS Optimus Foundation, the foundation will benefit from access to UBS’s network of experts, technical support, and capacity-building resources. Areas of collaboration include impact measurement, governance enhancement, and scaling restoration efforts in the Araguaia Biodiversity Corridor, together with other UBS initiatives.

The UBS Philanthropy Services platform

is based on three core pillars: comprehensive advice, insight experiences and execution services.

FOUNDER OF INSTITUTO BEJA JOINS OUR MISSION TO CREATE A BETTER EARTH FOR FUTURE GENERATIONS

In the beginning of 2024, we were honored and blessed to receive a considerable philanthropic donation from Mrs. Sultani. Her donation served as a multiplier and as catalytic capital for the Black Jaguar Foundation in 2024. It has enabled us not only to keep growing our field operations, but also to give us the time to raise additional funds throughout the year.

Mrs. Cristiane Sultani is a philanthropist with a large experience in the financial market and is the founder of Instituto Beja in Brazil, a social impact organization that promotes a positive impact in the philanthropic ecosystem by fostering creativity, innovation and collaboration.

Instituto Beja and herself are both recognized by forecasting the ecosystem of philanthropy by taking strategic decisions to develop a trust-based philanthropy with their grantees.

Mrs. Sultani personally seeks causes and supports institutions and projects that have a sparkle in their eyes, seeking the multiplier effect for the development of people who are protagonists of their own stories, with self-confidence and self-awareness.

CRISTIANE SULTANI Founder of Beja Institute

CORPORATE PARTNERSHIPS

UBS OPTIMUS FOUNDATION

The UBS Optimus Foundation is a global network of social impact and philanthropic foundations that connects you with inspiring philanthropy programs that, backed up by data and through sustainable impact investing, are making a measurable, long-term difference to the most serious and enduring social and environmental problems.

GIVING BJF THE TOOLS TO MAKE THE DIFFERENCE

Esri Nederlands’ ArcGIS

Platform provides an overview of where assets and activities are located on plants and sites and gives users access to the underlying data. Esri supports the Black Jaguar Foundation in gathering data of all sorts, so that we can reach objective answers to difficult challenges. Planting trees in Brazil starts with mapping out the areas that will be reforested!

JAN ZANDBERGEN GROUP

We are grateful for the continued, loyal support of the Jan Zandbergen Group.

As one of the earliest supporters of the BJF and its mission, Jan Zandbergen Group is an example to be followed. The company is truly committed to making the world a better, more sustainable place.

PROVIDING FULL VISIBILITY OF THE BJF’S RESULTS

Sumthing is a platform that is working hard to create a visibly nature positive world. Sumthing has been providing full visibility of the results of our project and helping the Black Jaguar Foundation to make a real, tangible impact. Together, we are growing the BJF community and showing that anyone can make a difference – it’s too late to be a pessimist!

NON-PROFIT PARTNERSHIPS

TREELOVE

Mrs. Andrea Dreesmann and her family have been of vital importance to the growth of our mission from the start of our operations in Brazil.

TreeLove’s mission is to “change the future with a present” by showcasing the sustainable work of different artists and artisans. Any purchase on TreeLove’s site is matched with a donation to BJF to plant native trees!

WOOD YOU CARE

An earth full of trees. For clean air, more cooling, bringing back more nature and a working for a better climate. A clear mission that cannot wait.

We must change and become sustainable for the earth, our world. WoodYouCare does that by planting trees with Black Jaguar Foundation.

CLUB KAKATUA

Club Kakatua is a charity born from the need for tangible projects that make our planet greener and healthier. They remove plastic from the ocean, clean up beaches, plant trees, protect natural areas and finance trash barriers. And whatever project it is, we want to make it tangible, so that everyone knows exactly what we have achieved together!

BEJA INSTITUTE

We were honored to receive a considerable philanthropic donation from Mrs. Sultani, founder of Beja Institute. Her donation served as a multiplier and as catalytic capital for the Black Jaguar Foundation in 2024. It has enabled us not only to keep growing our field operations, but also to give us the time to raise additional funds throughout the year.

A SELECTION OF OUR LONG-TERM PARTNERSHIPS

SCELTA MUSHROOMS

Scelta Mushrooms is one the Black Jaguar Foundation’s first sponsor partners. Jan Klerken, Scelta’s founder, planted one of our first trees!

They have been vital to the success of the Araguaia Biodiversity Corridor, and we are grateful to be able to count on their continued support.

KIENBAUM NETHERLANDS

Kienbaum believes in “turning people into progress” by creating the perfect match between individuals and companies and has committed to planting 10 trees in the name of every new person that they place. This will serve as a beautiful metaphor of how the individual’s growth together with the company will forever be linked to the growth of the trees planted in their name.

ROEMER KAMP & PARTNERS

Roemer Kamp & Partners is a Dutch asset management company that prioritizes personal attention and a clear focus on setting long-term goals only. The company recognizes the drive, enthusiasm and perseverance of the Black Jaguar Foundation in their own way of maintaining and growing their business.

ROYAL NETHERLANDS EMBASSY IN BRAZIL

The Royal Dutch Embassy in Brazil is co-financing BJF’s 17step restoration cycle to grow 3,000 native trees to realise the Araguaia Biodiversity Corridor and to support a knowledge exchange in Brasília on measuring and reporting on biodiversity.

A SELECTION OF SOME OF OUR MOST SUPPORTIVE PARTNERS

We are incredibly grateful to all of our wonderful supporters! The progress we have been making would not have been possible without you.

2W ENERGIA

ABN AMRO BANK

AEGIS CHARITABLE TRUST

AMARO AVIATION

AQUA CAPITAL

BEIERSDORF NIVEA

BEJA INSTITUTE

BLUE SMOKE

BRAZILIË REIS SPECIALIST

BTG PACTUAL

CAF AMERICAS

CAIXA FEDERAL BANK

CLUB KAKATUA

CONSCIOUS CAPITALISM

CONTACTCARE

DE HEUS BRASIL

ESRI NEDERLAND

FIDUC

FINCO ENERGIES

FLORIS WOUTERSON SLAAP PERFORMANCE

GREENFINITY FOUNDATION

HOUSE OF SLEEP

JAN ZANDBERGEN GROUP

JUNIPER NETWORKS

KAPPES & FLECK

KBF CANADA

KIENBAUM NETHERLANDS

MOTOVERS

NUNNER LOGISTICS

ONE TREE PLANTED PINTXOS BAR

PLANT FOR THE PLANET PLASTIFAMA

PR Ó RESULT RABOBANK

ROEMER KAMP & PARTNERS

ROYAL DE HEUS

ROYAL NETHERLANDS EMBASSY SALESFORCE

SAPA PANA TRAVEL

SCELTA MUSHROOMS

SEACON LOGISTICS

SNP GROUP SUMTHING SWISS RE TECBAN

THE POWER OF TIME OFF TREELOVE

VERMEER MEUBELEN

VIEIRA REZENDE WATERBEAR

WOODYOUCARE

WWF-EFN

MEET THE TEAM

MEET THE CORE TEAM

MEET THE BRAZILIAN ADVISORY BOARD

In Brazil, our restoration practices are governed by our Brazilian Advisory Board consisting of renowned experts from prominent institutions. It provides strategic support for long-term and current challenges, through in-depth, quarterly meetings and focused commitee sessions.

VALDILEI BELÉM

ERIVELTO CARVALHO TAIWAN

SILVA MAIK GUIMARÃES

CAIO SILVA

CAMILA LEFÈVRE SHEILLA ALBUQUERQUE REBECCA RAPOSO Vieira

MEET THE BJF AMBASSADORS

We are honoured to be supported by a dedicated group of nine diverse ambassadors. Knowledgeable and experienced in their fields, they serve as role models for our society. They all play an active role in supporting us, promoting our project, and providing us with their expert advice. BJF Board Members and Ambassadors do not receive any cash renumeration. They are only reimbursed for basic expenses such as transport to attend BJF meetings.

PROF. CARLOS NOBRE

Earth System Scientist

HUMBERTO TAN

TV Personality and writer

KOEN VANMECHELEN

H.R.H. PRINCESS BASMA BINT ALI

Sustainability, strategy & innovation Global Environmentalist

NALDEN

Co-founder Wetransfer

SHANNON O’LEARY JOY

President Earthsense Foundation

Conceptual Artist

PROF. JAN VAN HOOFF KEES RIJNHOUT

Science Supervisor Burgers’ Zoo

CEO Jaguar The Fresh Company

TARCILA URSINI

MEET THE TECHNICAL ECOLOGICAL RESTORATION COMMITTEE

The committee is composed of six qualified specialists from different areas, and one of BJF’s forest engineer. They are currently giving their input and advice on our plans to drastically scale up our operations in the field during the rainy / planting seasons for the next years.

SÂMIA NUNES MAXMILLER FERREIRA

Researcher

Instituto Tecnológico Vale

INGO ISERNHAGEN

Researcher EMBRAPA

Direct Seeding Specialist Caminhos da Semente

DIMITRIO SCHIEVENIN

Project Coordinator BJF

MEET THE EXTENDED TEAM

We would be nowhere without the support we receive from our amazing extended team, which consists of an group of professional volunteers, landowners and suppliers.

JÚLIA MANGUEIRA

Sustainable Agriculture

The Nature Conservancy

GLOBAL VOLUNTEER TEAM

The growth and continuous support from of our amazing team of professionals volunteers from all over the world has been instrumental. Contributing their time, talent and services free of charge or at charitable rates. Their unstoppable support has helped us to grow in all areas of our foundation. A special thanks to Randy Mc. Namara (Mission Realization Coach).

OFFICIAL SUPPLIERS

We’re honoured to have an amazing community of loyal Official Suppliers who donate to our foundation in kind with their products and services. Examples are Salesforce (CRM), PróResult (Accountancy Brazil), Alsberg Accountants & Adviseurs (Accountancy Netherlands), Vigics (Video productions), Elevate (web design), Endeavour Group, Hillenaar (Outdoor), ScaleHub (Office supplier), Ipskamp Printing, Quality Tie (T-shirts), CreativeColors (print), and Mat-Zet BV (book editing and printing).

FINANCES 2024

1. GENERAL

This is the fifth year that the Black Jaguar Foundation is presenting consolidated financial statements. The Dutch and Brazilian entities administer their finances separately, but because we are a single integrated Foundation, we have decided to present our finances as such.

In 2024, the Black Jaguar Foundation managed the finances of the Dutch organization with the we great support of Alsberg Accountants & Adviseurs, thank you Claudia Brant and Paul for being with us on this wonderful mission.

The Brazilian organization’s finances were managed by our long-standing partners, Pró Result. They have supported us since the inception of the Brazilian entity in 2016, know our Foundation well and fully support our mission. The experience of João Bosco and his team provided us with the necessary comfort for a financial team. Many thanks to them.

To ensure we are fully compliant with all rules and regulations and to provide additional reassurance to our existing and future partners, auditors at Baker Tilly, a global top 10 auditing firm, reviewed our Dutch and Brazilian and consolidated Financials before publication.

In 2024, we maintained our partnership with the law firm SBSA, one of the largest in Brazil serving the non-profit sector. With specialized consulting in civil, labor, and tax matters, we have continuously improved our internal mechanisms, promoting greater security for our partners and raising the level of governance within the organization. We would like to thank Eduardo Szazi, Erika Bechara, and the entire team for their support.

1.1. ACTIVITIES

The goal of the Black Jaguar Foundation, with registered offices in Amsterdam and São Paulo, is to make a tangible contribution to the realisation of the Araguaia Biodiversity Corridor.

The Dutch entity is a non-profit organisation registered at the Chamber of Commerce in Amsterdam; registration number 34327956. The Brazilian entity is registered in the Cadastro Federal with CNPJ 24.230.587/0001-93.

1.2 ANBI

As per 2009 the Foundation was identified by the Dutch Tax Authority as an ‘Algemeen Nut Beogende Instelling’ (ANBI) - a Public Benefit Organization. All donations are deductible from the taxable income of donors as long as the Foundation maintains its ANBI status.

1.3 REMUNERATION OF OUR BOARD MEMBERS

None of our Board Members, Advisory Board Members or Ambassadors received financial compensation for their efforts to support to Black Jaguar Foundation with their time, connections and wisdom. We are very thankful for their selfless contributions.

1.4 GENERAL ACCOUNTING PRINCIPLES

The financial statements have been prepared on the historical cost convention. Assets and liabilities are presented at face value less any provisions deemed necessary.

1.4.1.

TANGIBLE FIXED ASSETS

Tangible fixed assets are prepared at acquisition cost less depreciation and if applicable, impairments in value. Depreciation is based on the estimated useful life and is calculated as a fixed percentage of cost, taking into account any residual value.

1.4.2 CASH AND CASH EQUIVALENTS

Cash and cash equivalents are presented at face value. If cash is not freely available, this is taken into account in the valuation.

1.4.3

CURRENT LIABILITIES

Current liabilities are stated at fair value.

1.4.4

ACCOUNTING PRINCIPLES FOR DETERMINING THE RESULT

Income from donations and grants are recognised when the amounts are received.

1.4.5

CURRENCY

The annual accounts are presented in Euros, which is the functional currency of the organisation. Accounting for the Brazilian entity was performed in BRL. All transactions for 2024 were translated into Euros based on the average conversion rate for the year. The Balance Sheet items were converted based on the rate on 31/12/2024. Previous years’ Income Statement and Balance Sheet items for the Brazilian entity were converted based on the rate of 31/12/2023 and 31/12/2022, respectively.

2. INCOME STATEMENT

* Intercompany income and intercompany expenses cancel each other out in the combined statement.

Amounts stated in thousands of Euros

3. BALANCE SHEET

4. NOTES TO THE INCOME STATEMENT 2024

INCOME

In 2024, the Black Jaguar Foundation experienced a significant increase in income, with growth of approximately 250% compared to the 2023 fiscal year. This exceptional performance reflects the renewed confidence of our existing sponsors and donors, whose continued support was essential in securing a solid financial foundation and enabling the expansion of our restoration efforts. We also highlight the addition of two new strategic partners — Instituto Beja and Rabobank — whose contributions will play a key role in advancing our operations and driving the overall growth and improvement of the organization.

Net income can be divided into:

• Non-Restricted Donations, which the Black Jaguar Foundation can spend in any manner that fits its mission to create the Araguaia Biodiversity Corridor.

• Restricted Donations, which the donor/grantor has earmarked for a specific purpose.

• Each of the above can be provided by private sponsors, corporations, and non-profits.

OPERATIONAL EXPENSES

In 2024, the Black Jaguar Foundation recorded a reduction of approximately 4% in operational expenses compared to the previous fiscal year, despite a significant expansion in field activities. This outcome was a direct result of the strategic planning carried out internally during the second half of 2023, which focused on organizational restructuring, process optimization, and improved resource allocation. In addition, we maintained combined overhead and fundraising costs at less than 10%.

The purposes for Operational Expenses were:

Operational Expenses

• Biodiversity Planning and Reforestation – referring to all expenses and investments made in the field or directly related to the field work for both Biodiversity Planning and Reforestation tasks.

Operational Expenses

• Proposition Araguaia Biodiversity Corridor – referring to all expenses made related to communicate, promote, share the importance of the Araguaia Biodiversity Corridor, to successfully build a community of landowners, development partners and institutional partners.

• Fundraising – referring to all expenses related to raising the funds required for realising the Araguaia Biodiversity Corridor.

• Overhead – referring to expenses which do not have a direct impact on the realisation or the promotion of the Araguaia Biodiversity Corridor, such as office-rent and utilities.

5. NOTES TO THE BALANCE SHEET 2024

In 2024, property, plant and equipment showed a reduction of approximately 7% compared to the 2023 fiscal year. This variation is primarily due to the ongoing depreciation of our large-scale nursery, which is responsible for the annual production of up to 500,000 seedlings for planting. During the period, no new equipment was acquired, as the existing inventory was sufficient to meet the demands of planting and maintenance activities

The initiator of the Black Jaguar Foundation has kindly provided an interest free loan, to help the foundation start up. The loan totals € 349K. It has been agreed that no more than 15% of the loan can be claimed per year and that the amount is subject to affordability by the Black Jaguar Foundation. In 2024 the total loan decreased by € 27 thousand.

There was a significant improvement in social equity in 2024, driven by the growth in income during the period. These funds will be allocated to reforestation efforts planned for 2025, as well as to the ongoing processes of organizational improvement and growth.

6. SUBSEQUENT EVENTS

Following the partnership initiated in 2024 with the UBS Optimus Foundation, we are honored to share that, later in 2025, we have been invited for the first time to participate in one of their UBS Philanthropy Client Events. We are thrilled about this opportunity to present our mission to a select group of their clients, with strong potential to create new, long-term philanthropic donors.

Another event will be a VIP Field Trip, following the donation and partnership established with the Royal Netherlands Embassy in Brazil in 2024. A delegation led by Mr. André Driessen, Ambassador of the Netherlands to Brazil, and Mr. Emiel Mulder, Biodiversity Counsellor, will make an official visit to our field operations in the Corridor in the first quarter of 2025. This partnership with the embassy holds strategic significance for the Jaguar Foundation, as it may pave the way for future collaborations with the Dutch business Community.

AUDITORS’ REPORT BLACK JAGUAR FOUNDATION

To the members of the Board

Stichting Black Jaguar Foundation

We have reviewed the accompanying financial statements 2024 of Stichting Black Jaguar Foundation based in Amsterdam.

These financial statements comprise:

1. the balance sheet as at 31 December 2024;

2. the profit and loss account for the year then ended; and 3. the notes comprising of a summary of the accounting policies and other explanatory information.

Management’s responsibility

Management is responsible for the preparation and fair presentation of the financial statements and for the preparation of the management report, both in accordance with Part 9 of Book 2 of the Dutch Civil Code. Furthermore management is responsible for such internal control as it determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s responsibility

Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with Dutch law, including the Dutch Standard 2400, ‘Opdrachten tot het beoordelen van financiële overzichten’ (Engagements to review financial statements). This requires that we comply with ethical requirements and that we plan and perform the review to be able to conclude whether anything has come to our attention that causes us to believe that the financial statements are not free from material misstatement.

A review in accordance with the Dutch Standard 2400 is a limited assurance engagement. The performed procedures consisted primarily of making inquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained.

The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with the Dutch Standards on Auditing. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements do not give a true and fair view of the financial position of Stichting Black Jaguar Foundation as at 31 December 2024 and of its result for the year then ended in accordance with Part 9 of Book 2 of the Dutch Civil Code.

Amsterdam, June 27, 2025 Baker Tilly (Netherlands) N.V.

M. J. Beerse Partner MKB A&A

AUDITORS’ REPORT INSTITUTO BLACK JAGUAR

Independent auditors’ report on the financial statements

(Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version prevails. See Note 15 to the financial statements.)

To the Management of Instituto Black Jaguar São Paulo - SP

Opinion on the financial statements

We have audited the accompanying financial statements of Instituto Black Jaguar (“Institute”), which comprise the balance sheet as of December 31, 2024 and the related statements of income, comprehensive income, changes in equity and cash flows for the year then ended, as well as notes to the financial statements, including significant accounting policies and other explanatory information.

In our opinion, the financial statements referred to above presente fairly, in all material respects, the equity and financial position of Black Jaguar as of December 31, 2024, the results of its operations and its cash flows for the year then ended in accordance with accounting practices adopted in Brazil, specially the NBC TG 1000 (R1) – Accounting for Small and Medium–Sized Enterprises, that is alignment with International Financial Reporting Standards for Small and Medium Entities (IFRS for SMEs), issued by International Accounting Standards Board (IASB) and non-profit entities (ITG 2002 (R1).

Basis of the opinion on the financial statements

Our audit was conducted in accordance with Brazilian and international auditing standards. Our responsibilities, in accordance with such standards, are described in the following section entitled “Auditor’s Responsibilities for audit of financial statements.” We are independent in relation to the Company in accordance with the relevant ethical principles provided for in the Accountant’s Code of Professional Ethics and professional standards issued by the Federal Accounting Council, and we comply with other ethical responsibilities pursuant to these standards. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of management for the financial statements

Management is responsible for the preparation and adequate presentation of the financial statements in accordance with the accounting practices adopted in Brazil, specially the NBC TG 1000 (R1) – Accounting for Small and Medium–Sized Enterprises, that is alignment with International Financial Reporting Standards for Small and Medium Entities (IFRS for SMEs), issued by International Accounting Standards Board (IASB), non-profit entities (ITG 2002 (R1) and the

internal controls it deemed necessary to enable the preparation of these financial statements free of significant distortions, regardless of whether the latter were caused by fraud or error.

In the preparation of financial statements, management is responsible for assessing the ability of the Company to continue as a going concern, disclosing, where applicable, the matters relating to its going concern and the use of this basis of accounting in preparing the financial statements, unless management intends to wind-up the Company and its subsidiaries or cease its operations, or has no realistic alternative to avoid the closure of operations.

Auditor’s responsibilities for the audit of the financial statements

Our purposes are to obtain reasonable assurance that the financial statements, taken as a whole, are free from material misstatement, whether due to fraud or error, and issue the audit report with our opinion. Reasonable assurance means a high level of security, but not a guarantee that an audit conducted in accordance with Brazilian and international auditing standards always detects any existing material misstatements. Misstatements may be due to fraud or error and are considered material when, individually or taken as a whole, can influence, within a reasonable perspective, the economic decisions of users taken based on these financial statements.

Auditor’s responsibilities for the audit of the financial statements--Continued

As part of the audit conducted in accordance with Brazilian and international auditing standards, we exercise professional judgment and maintain our professional skepticism throughout the audit. Moreover:

• We identify and evaluate the risks of material misstatement of financial statements, whether due to fraud or error, plan and perform audit procedures in response to such risks and obtain sufficient and appropriate audit evidence for expressing our opinion.The risk of not detecting a material misstatement due to fraud is higher than due to error, since a fraud can involve the act of circumventing internal controls, collusion, falsification, omission or intentional misrepresentations;

• We obtain an understanding of the internal controls relevant to the audit to plan the audit procedures appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal controls of the Company;

• We evaluate the adequacy of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management;

• We conclude on the appropriateness of the use of the going concern accounting basis by management, and based on the audit evidence obtained, whether there is significant uncertainty in relation to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that there is a material uncertainty, we must highlight the related disclosures in the financial statements in our report, or include a modification in our opinion if disclosures are inadequate. Our conclusions are based on audit evidence obtained up to the date of our report. However, future events or conditions may lead the Company to no longer remain as a going concern;

• We evaluate the overall presentation, structure and content of financial statements, including disclosures, and whether the financial statements represent the underlying transactions and events in a manner consistent with the objective of fair presentation.

We communicate with management regarding, among other issues, the planned scope, the timing of the audit and the significant audit findings, including any significant weaknesses in internal controls that we have identified during our work.

São Paulo, July 28, 2025.

Baker Tilly 4Partners Auditores Independentes Ltda. CRC 2SP-031.269/O-1

Alexandre De Labetta Filho Accountant CRC 1SP-182.396/O-2

Renato Ruiz Filiciano da Silva Accountant CRC 1SP-268.528/O-6

BUILDING A HEALTHIER PLANET FOR FUTURE GENERATIONS STARTS WITH YOU.

PLANS FOR 2025

JOIN US!

Make a difference, all it takes is one tree

DONATE A TREE

As we grow, we aim to reach more and more people and enable them to become part of our huge mission of ecological restoration as well. To make it accessible for anyone to contribute, we launched the Donate a Tree campaign.

For a € 8 donation per tree, we are able to cover the full costs of all the seventeen steps in the BJF restoration cycle, including 3 years of post-planting maintenance.

The campaign is available in four languages: English, Portuguese, Dutch and German.

DONATE ANY AMOUNT

Supporting us is about way more than just planting a tree! Now you have another option to support the Araguaia Biodiversity Corridor. Our new Donate Any Amount page allows you to choose the amount you want. Donating is easy: you just fill the form and select your contribution!

We invite you to share our new donation page with your friends. Together, we’re accomplishing one of the world’s largest restoration projects!

BJF FIRST 600 CAMPAIGN

This photo wall is divided into 600 numbered pixels or windows. Choosing a gray or deforested window allows you to sponsor that specific window and become a Supporting or Corporate Friend of the Black Jaguar Foundation. When a window is sponsored, its color will change from ‘deforested gray’ to ‘jungle green’, bringing us one step closer to realizing the Araguaia Biodiversity Corridor.

Take this opportunity to help the BJF and its partners accomplish this bold conservation project. You can do it on your own, with a company or as part of a group effort.

LEARN PLANT SCALE-UP REPEAT

LOOKING FORWARD TO 2025...

REACHING TWO MILLION TREES

2025 will be a landmark year as we have surpassed the milestone of planting our first million native trees, and will now focus on the second million.

LAUNCHING OUR RESTORED NURSERY

To support our growing restoration efforts, we are strengthening an scaling nursery, potentially doubling our seedling production capacity and ensuring we can meet the increasing demand for native trees across the region as we scale our operations.

DEEPENING PARTNERSHIPS WITH FARMERS

We’re expanding our collaboration with landowners, more and more farmers are stepping up to be part of a greener, more sustainable future for the Araguaia region, across more and more towns around Santana Do Araguaia.

ENHANCING BIODIVERSITY MONITORING

In 2025, we are rolling out a new biodiversity monitoring program to measure the return of wildlife and ecosystem health in restored areas, using camera traps, drones and a brand new monitoring platform with KPIs and real-life photos from the restoration sites.

INVESTING IN LOCAL COMMUNITIES

We’re strengthening our training programs for our seed collective, to empower local communities with skills and entrepreneurial opportunities, offering stable employment and long-term growth.

DEVELOPMENT BANKS TO VISIT THE CORRIDOR

As a result of our extensive lobbying efforts in 2024, we will host executive field trips in 2025 for delegations from the World Bank, BNDES and IDB.

WE LOOK FORWARD TO CONTINUING THIS JOURNEY WITH YOU HECTARE BY HECTARE. TOGETHER, WE RESTORE!

INSPIRING INVITATION TO JOIN OUR MISSION

TARCILA URSINI - AMBASSADOR BLACK JAGUAR FOUNDATION

BJF NETHERLANDS

Stichting Black Jaguar Foundation

Scalehub Amstel Business Park H.J.E. Wenckebachweg 123 1096 AM – Amsterdam info@black-jaguar.org

BJF BRAZIL

Instituto Black Jaguar

Alameda Joaquim Eugênio de Lima, 187, conj 11-01403-001

São Paulo – SP contato@black-jaguar.org

BJF BRAZIL

Instituto Black Jaguar

Rua Pedro Miranda, 75, Qd 4, Lt 14 Santana do Araguaia PA – 68560-000