AGCO (NYSE: AGCO) posts $726.5M net and starts $1B buyback program

Rhea-AI Filing Summary

AGCO reported full-year 2025 results showing a profitable recovery and strategic transformation. Revenue was $10.1B and net income attributable to AGCO was $726.5M ($9.75 per diluted share). Free cash flow was $740.2M, and the company launched a $1 billion share repurchase program.

Management highlighted a shift toward precision agriculture via the PTx platform, expansion of the Fendt premium brand, continued rollout of FarmerCore distribution, and a restructuring program expected to reduce costs by up to $200M, while targeting mid-cycle adjusted operating margins of 14–15.

Insights

Corporate Finance Analyst

Profitability rebound backed by strong cash generation and a sizeable buyback.

AGCO posted $726.5M net income and $740.2M free cash flow for 2025, improving from 2024 losses. The company also initiated a $1B share repurchase program, signaling capital-allocation confidence.

Key dependences include sustained industry demand recovery, successful realization of up to $200M in restructuring savings, and execution of dealer- and parts-led margin initiatives. Subsequent filings and quarterly results will clarify buyback pacing and covenant headroom.

Product & Strategy Expert

PTx and FarmerCore are central to AGCO's growth and margin pathway.

AGCO emphasizes mixed-fleet precision offerings (PTx) including FarmENGAGE and OutRun autonomy, targeting $2B precision revenue by 2029 and expanded PTx Elite dealer coverage. FarmerCore and parts/e‑commerce expansion aim to lift parts sales toward $2.3B by 2029.

Execution risks include adoption rates for retrofit and digital platforms, dealer rollout speed, and maintaining product quality during scaling. Progress on product launches and dealer metrics in future reports will indicate traction.

2025 ANNUAL REPORT Farmer First. Field Ready.

We are building the AGCO we want so farmers can build the future they want. Our goal is for AGCO and farmers to build higher-performing, more-resilient businesses. BUILD the PTx ecosystem to drive higher margins EXIT low-margin, low-growth businesses EXECUTE restructuring program to capture savings EXPAND FarmerCore to provide a unique service delivery model CREATE $1 billion share repurchase program to unlock more shareholder value AGCO AT-A-GLANCE IN 2025 $10.1B Annual revenue $487.7M Research and development spend ~2,800 Independent dealers and distributors in 140 countries ~22,000 Global employees 67% 6% 11% 17% REGIONAL NET SALES 67% Europe & Middle East 17% North America 11% South America 6% Asia Pacific On the cover: When equipped with the OutRun retrofit kit for tillage, tractors like the Fendt 1000 Vario® can be moved autonomously around a field, allowing farmers to deploy labor where it is most needed. MULTIBRAND FOCUS

 AGCO 2025 ANNUAL REPORT | 1 The next decade will be the most innovative in ag history — one in which AGCO is proud to lead the way for our farmers.” — Eric P. Hansotia, Chairman, President and Chief Executive Officer Dear fellow shareholders, employees, customers and dealers: The year 2025 demonstrated the strength of AGCO and our Farmer-First strategy amidst significant challenges for farmers and our industry. We gained record market share around the world, continued the global expansion of Fendt, fortified a leading position in precision ag and enhanced efficiency within the organization. In a year that marked AGCO’s 35th anniversary, our transformation took hold, creating a higher-performing company that best serves our farmers, employees and shareholders. Several achievements in 2025 reinforced the strength of our execution. We recorded our highest-ever Net Promoter Score, our measure of customer satisfaction. We were the safest we have ever been in AGCO history, surpassing our goal to work at a world-class safety level. Innovation that solves farmers’ problems drove a record number of new patent application filings, which have increased by nearly 40% since 2020.1 We delivered adjusted operating margins that are nearly double AGCO’s performance during the last market trough and close to performance at industry peaks reached prior to the introduction of our Farmer-First strategy. Record free cash flow demonstrated strong operating discipline and provided flexibility to continue investment through a challenging cycle. We also launched a $1 billion share repurchase program, equal to our largest ever, reflecting our confidence in the business and commitment to shareholder returns. Contributing to these wins was our relentless focus on efficiency, which is creating a more agile enterprise that delivers greater value at lower cost. That emphasis ultimately benefits farmers, who themselves work every day to make their own operations more efficient. Our transformative restructuring program, which is on track to reduce our cost base by up to $200 million, is standardizing, simplifying and centralizing work while putting advanced automation tools in the hands of employees to boost productivity. All these actions position AGCO to emerge from the trough as a financially stronger, better-positioned company, poised to continue serving farmers and investors better than ever before. 1 Excluding business divestitures.

2 | AGCO 2025 ANNUAL REPORT From transformation to industry leadership and disciplined execution The transformation we launched in recent years to reposition our portfolio, fuel innovation and enhance operational efficiency is largely responsible for this position. We moved our portfolio toward high-margin, high-growth businesses, exiting the majority of our Grain and Protein business, which lacked alignment with our core machine and technology products and distribution strategy. In its first full year of operation, PTx advanced AGCO’s precision ag technology and innovation flywheel through the combined offerings from Precision Planting, PTx Trimble and six other smaller tech acquisitions. The goal is clear: deliver precision ag solutions across the crop cycle, regardless of brand. Farmers can upgrade the mixed-fleet equipment they already own, through our retrofit tech or benefit from the solutions on new machines through our Original Equipment Manufacturer relationships. Both enable higher yields with fewer inputs. In 2025, PTx introduced 14 new products that provide solutions for every season, expanding the industry’s most comprehensive retrofit precision portfolio. We are focused on solutions that are AI-driven and automate an increasing number of tasks to make our equipment simpler, more intuitive and easier to operate. One standout was the launch of PTx FarmENGAGE, our mixed-fleet, cloud-based data platform designed for farmers to manage every aspect of their operation. The platform integrates machine connectivity, agronomic insights and task management across brands and platforms. Helping us get these products to market, and an important driver of our growth goal to reach $2 billion in precision ag revenue by 2029, is the expansion of our PTx distribution network. We ended the year with more than 70 global PTx Elite dealers that sell both Precision Planting and PTx Trimble products — more than double the number at the start of the year. As we develop new equipment and software, we are also evolving how we deliver distribution and service to better meet farmers where they are. First launched in 2024, FarmerCore is AGCO’s unique approach to distribution that increases the focus on bringing the business to the farmer, supported by digital tools that make it easier for farmers to engage, transact and manage service online. More than two-thirds of our dealers in North America now operate with more than 50% on-farm capacity, marking a meaningful structural shift in how service is delivered to our farmers. As dealers continue to scale their investments in service truck capacity, we expect to see margin durability, better customer satisfaction rates and faster market share growth. This is how farmers want to be served. Continuing Fendt’s journey of innovation and expansion Unlocking the full, global potential of our premium Fendt brand is another of AGCO’s primary growth levers. In 2025, Fendt delivered a standout year of market performance in almost every region. We had our largest gains in North American large ag for Fendt and Massey Ferguson combined, demonstrating the strength of these differentiated portfolios and the power of our team of experts and dealers. In South America, we announced plans to enter the promising Argentinian market. These gains underscore how Fendt has significantly grown its reach to approximately 80% dealer coverage in the Americas over the past five years. Fendt expanded its suite of solutions in 2025, launching five new machines and 17 additional product innovations, which continue to be recognized as best in class. At AGRITECHNICA, the world’s leading trade fair for agricultural technology, Fendt models received Tractor of the Year honors, three Farm Machine 2026 awards and recognition for solutions that enable mixed-fleet and forage farmers to be more productive, profitable and sustainable. Plus, Fendt debuted the Fendt Xaver GT, an autonomous robotic field system that delivers precise crop care with minimal soil impact and without an operator. Award-winning solutions coupled with continued market expansion put us on track to achieve $1.7 billion in Fendt sales in North and South America by 2029, while maintaining our industry-leading position in Western Europe.

 AGCO 2025 ANNUAL REPORT | 3 A portfolio balanced by other strong brands Valtra and Massey Ferguson are also delivering for farmers. In an industry first, the sixth generation Valtra S Series won all three major design awards in one year: the Good Design Award, the iF DESIGN AWARD and the prestigious Red Dot Best of the Best Award. Valtra’s G Series Continuous Variable Transmission Active model also took home the Tractor of the Year 2026 trophy in the Utility category. The brand’s continued focus on innovation shines with products like the Valtra Coach Talking Tractor concept. Going to market in 2026, this smart, voice- and text-enabled AI assistant is designed to make farming easier, more intuitive and more data-driven. This is a real breakthrough for farmers. For generations, Massey Ferguson has earned the loyalty of farmers seeking a straightforward and dependable tractor. The new Massey Ferguson 5M series was honored with a Red Dot Award for Product Design. That momentum continues through strategic partnerships that strengthen our core offerings. Our new supplier partnership with SDF refreshed our Massey Ferguson offerings with a streamlined portfolio of low- to mid-range horsepower tractors, strengthening our global position in this sector. An industry-leading global parts business Expanding our parts business is another central pillar of AGCO’s growth strategy, delivering higher margins with less volatility, strong alignment with FarmerCore capabilities and an enhanced customer experience that builds farmer loyalty. By improving the aftersales experience for customers, we ensure equipment is field-ready and farmers receive proactive support. AI-enabled alerts help dealers identify issues early and act to improve farmers’ uptime. These same tools allow dealers to anticipate demand for specific parts, enabling better forecasting that increases parts sales while reducing overall inventory levels. Together, these capabilities support industry-leading fill rates that help keep equipment running when farmers need it most. E-commerce is playing an increasingly important role in our parts business, with online orders averaging 25% larger than traditional transactions. We remain on course to grow e-commerce to 25% of parts sales and are targeting $2.3 billion in overall net part sales by 2029. Achieving this growth requires a robust distribution infrastructure. In 2025 we broke ground on a new Europe & Middle East Parts Distribution Center in France and expanded our West Coast parts distribution system in the U.S.; both will be operational in 2026. That same focus on proximity and availability extends to remanufactured components. In South America, our new Remanufacturing Center of Excellence in Brazil brings remanned transmissions closer to the customer. Built to deliver even in challenging conditions While 2026 may bring a modest recovery of the ag market in some regions, it remains critically important to focus on managing things we can control. Strides we have taken to become a more resilient, higher-performing organization will continue. Those initiatives, coupled with the pillars of our growth strategy, put us on course to achieve our target of adjusted operating margins of 14%–15% at mid-cycle while also growing 4–5% faster than the industry. When market conditions improve, and they will, AGCO is well-positioned to grow value for farmers and all our stakeholders. Leading the way will be an exceptionally disciplined and committed team of AGCO employees who have proven they can transform and perform in challenging conditions. I am convinced the next decade will be the most innovative in ag history — one in which AGCO is proud to lead the way for our farmers. Sincerely, Eric P. Hansotia Chairman, President and Chief Executive Officer

4 | AGCO 2025 ANNUAL REPORT Reconciliation of non-GAAP measures (In millions, except for share amounts and percentages) Years ended December 31, 2025 2024 2023 Income from operations Net income1 Net income per share1 Income (loss) from operations Net income (loss)1 Net income (loss) per share1 Income from operations2 Net income1 Net income per share1,2 As reported $ 595.7 $ 726.5 $ 9.75 $ (122.1) $ (424.8) $ (5.69) $ 1,700.4 $ 1,171.4 $ 15.63 Restructuring and business optimization expenses 82.2 71.7 0.96 172.7 135.9 1.82 11.9 9.5 0.13 Amortization of PTx Trimble acquired intangibles 60.7 46.8 0.63 48.2 30.3 0.40 — — — Transaction-related costs 21.6 8.3 0.11 67.7 55.0 0.74 16.0 11.8 0.16 Impairment charges 10.0 9.9 0.13 369.5 236.8 3.17 4.1 4.1 0.05 Loss on sale of business 10.8 10.8 0.14 507.3 507.3 6.80 — — — Gain on sale of investment in affiliate — (219.2) (2.93) — — — — — — U.S. pension plan termination and settlement — — — — 18.5 0.25 — — — Argentina currency devaluation impact — — — — — — — 45.8 0.61 Divestiture-related foreign currency translation release — — — — 0.7 0.01 — 8.2 0.11 Discrete tax items — (261.8) (3.51) — — — — (85.9) (1.15) As adjusted $ 781.0 $ 393.0 $ 5.28 $ 1,043.3 $ 559.7 $ 7.50 $ 1,732.3 $ 1,164.9 $ 15.55 1 Net income (loss) and net income (loss) per share amounts are after tax. 2 Rounding may impact summation of amounts. Years ended December 31, 2025 2024 2023 Net cash provided by operating activities $ 988.1 $ 689.9 $ 1,103.1 Less: purchases of property, plant and equipment (247.9) (393.3) (518.1) Free cash flow $ 740.2 $ 296.6 $ 585.0 Years ended December 31, 2025 2024 2023 Net sales $10,082.0 $11,661.9 $14,412.4 Income (loss) from operations 595.7 (122.1) 1,700.4 Adjusted income from operations1 781.0 1,043.3 1,732.3 Operating margin2 5.9% (1.0)% 11.8% Adjusted operating margin2 7.7% 8.9% 12.0% 1 Refer to the previous table for the reconciliation of income (loss) from operations to adjusted income from operations. 2 Operating margin is defined as the ratio of income (loss) from operations divided by net sales. Adjusted operating margin is defined as the ratio of adjusted income from operations divided by net sales. Forward-looking statements For our forward-looking statements, please see the last pages of the report.

Annual Report on Form 10-K

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-12930 AGCO CORPORATION (Exact name of Registrant as specified in its charter) Delaware 58-1960019 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 4205 River Green Parkway Duluth, Georgia 30096 (Address of principal executive offices) (Zip Code) (770) 813-9200 (Registrants telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of Class Trading Symbol Name of exchange on which registered Common stock AGCO New York Stock Exchange Indicate by check mark if the registrant is a well-known seasoned issuer as defined in Rule 405 of the Securities Act. Yes ☒ No o Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No o Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No o Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one): ☒ Large accelerated filer o Accelerated filer o Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. o Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b). o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ The aggregate market value of AGCO Corporation’s Common Stock (based upon the closing sales price quoted on the New York Stock Exchange) held by non-affiliates as of June 30, 2025 was approximately $6.4 billion. For this purpose, directors and officers and the entities that they control have been assumed to be affiliates. As of February 9, 2026, 72,400,559 shares of AGCO Corporation’s Common Stock were outstanding. Documents Incorporated by Reference Portions of AGCO Corporation’s Proxy Statement for the 2026 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.

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PART I Item 1. Business AGCO Corporation was incorporated in Delaware in 1991. Unless otherwise indicated, all references in this Form 10- K to “AGCO,” “we,” “us” or the “Company” include AGCO Corporation and its subsidiaries. General AGCO is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™. AGCO’s high-performance equipment and smart farming solutions, including brand-agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. We distribute most of our products through approximately 2,800 independent dealers and distributors in approximately 140 countries. We also provide retail and wholesale financing through our finance joint ventures with Coöperatieve Rabobank U.A., which, together with its affiliates, we refer to as “Rabobank.” In 2024, we fundamentally shifted our portfolio through the PTx Trimble joint venture and the divestiture of the majority of our Grain & Protein (“G&P”) business. 1

Products The following table sets forth a description of the Company’s more significant products and their percentage of net sales: Percentage of Net Sales Product Product Description 2025 2024 2023 Tractors • High horsepower tractors (140 to 650 horsepower); typically used on large acreage farms, primarily for row crop production, soil cultivation, planting, land leveling, seeding and commercial hay operations 66 % 61 % 61 % • Utility or Mid-range tractors (40 to 130 horsepower); typically used on small and medium-sized farms and in specialty agricultural industries, including dairy, livestock, orchards and vineyards • Compact tractors (under 40 horsepower); typically used on small farms and specialty agricultural industries, as well as for landscaping, equestrian and residential uses Combines • Combines, sold with a variety of threshing technologies and complemented by a variety of crop- harvesting heads; typically used in harvesting grain crops such as corn, wheat, soybeans and rice 2 % 3 % 4 % Hay Tools and Forage Equipment, Planters, Implements, Precision Agriculture Solutions & Other Equipment • Round and rectangular balers, loader wagons, self-propelled windrowers, forage harvesters, disc mowers, spreaders, rakes, tedders, and mower conditioners; used for the harvesting and packaging of vegetative feeds used in the cattle, dairy, horse and renewable fuel industries 11 % 10 % 12 % • Planters and other planting equipment (including retrofit equipment); used to plant seeds and apply fertilizer in the field, typically used for row crops, including planting technologies that cover the areas of monitoring and measurement, liquid control and delivery, meter accuracy and seed delivery • Precision agriculture solutions, encompassing retrofit, factory-fit and OEM, that work across mixed fleets, to improve farmers planting, fertilizer, pesticide and herbicide application and harvest operations across the crop cycle • Implements, including disc harrows, which cut through crop residue, leveling seed beds and mixing chemicals with the soils; heavy tillage, which break up soil and mix crop residue into topsoil, with or without prior discing; field cultivators, which prepare a smooth seed bed and destroy weeds; and drills, which are primarily used for small grain seeding • Other equipment, including loaders; used for a variety of tasks, including lifting and transporting hay crops Application Equipment • Self-propelled, three and four wheeled vehicles and related equipment; for use in the application of liquid and dry fertilizers and crop protection chemicals both prior to planting crops (“pre- emergence”) and after crops emerge from the ground (“post-emergence”) 2 % 3 % 3 % Replacement Parts • Replacement parts for all of the products we sell, including products no longer in production. Most of our products can be economically maintained with parts and service for a period of 10 to 20 years. Our parts inventories are maintained and distributed through a network of master and regional warehouses throughout North America, South America, Europe, Africa, China and Australia in order to provide a timely response to customer demand for replacement parts 19 % 16 % 13 % Grain Storage and Protein Production Systems • Grain storage bins and related drying and handling equipment systems; seed-processing systems; swine and poultry feed storage and delivery, ventilation and watering systems; egg production systems, and broiler production equipment — % 7 % 7 % Precision Agriculture The PTx brand represents our precision ag portfolio. PTx combines precision ag technologies from the cornerstones of AGCO's tech stack: Precision Planting® and our joint venture, PTx Trimble, to deliver industry leading solutions across the crop cycle by creating a global-leading mixed-fleet precision agriculture platform. AGCO's PTx technologies enable farmers who use almost any brand to increase profitability and sustainability. With retrofit, factory-fit and Original Equipment Manufacturer (“OEM”) solutions that work across mixed fleets, we help transform farmers' equipment into smarter, more efficient machines. Our PTx solutions provide retrofit solutions to upgrade farmers’ existing equipment to improve their planting, fertilizer, pesticide and herbicide application and harvest operations, resulting in yield and cost optimization. These solutions are reflected in the table above. We provide telemetry-based fleet management tools, including remote monitoring and diagnostics, which help farmers improve uptime, machine and yield optimization, mixed fleet optimization and decision support, with critical data privacy choices and convenient mobile tools that offer access to data and information. These products ultimately result in improved yields or reduced waste as well as increased profitability for farmers to help enable sustainable farming. In addition, our precision agriculture solutions are based on connectivity, automation and digitalization and include satellite-based steering, field data collection, product self-adjustment and yield-mapping. PTx sells precision agriculture solutions around the crop cycle to third-party OEMs and supports our products, brands and the aftermarket with a comprehensive and customizable suite of solutions, enabling farmers to make individual, data-based decisions in order to reduce costs and maximize efficiency, yields 2

and profitability. These technologies are developed internally or sourced from third parties and integrated into our products. In 2025, we launched FarmENGAGE, our new mixed fleet digital platform designed to deploy work plans, track fieldwork and collect test data from all machines on the farm regardless of brand. This retrofit-first solution enables AGCO equipment to seamlessly integrate with existing PTx Trimble technology while also supporting interoperability with non-AGCO fleets. In 2025, we unveiled additional Outrun autonomous solutions, a platform of retrofit autonomy technologies, for tillage and fertilization, with the tillage application currently in beta testing and the fertilization application in alpha testing. These solutions build on the Outrun autonomous grain cart solution, which is currently in production. Collectively, these offerings provide autonomous capabilities for Fendt and certain competitive machines across three of the five major stages of the crop cycle. We believe these products and related technologies are valued by farmers globally and are expected to contribute to the growth of our equipment sales and revenues. Operational Excellence The Company is focused on operational efficiencies to build a more resilient business. In 2025, the Company continued the restructuring program (the “Program”) announced in 2024 in response to increased weakening demand in the agriculture industry. The Program is focused on further reducing structural costs, streamlining the Company’s workforce and enhancing global efficiencies related to changing the Company’s operating model for certain corporate and back-office functions and better leveraging technology and global centers of excellence. Additionally, we are reimagining our business operations globally with efficiency initiatives and structural changes of processes (offshore, automate, outsource). Market Conditions Demand for agricultural equipment is cyclical, influenced by, among other things, farm income, farm land values and debt levels, financing costs, acreage planted, crop yields, weather conditions, the demand for agricultural commodities, commodity and protein prices, agricultural product demand and general economic conditions and government policies, tariffs and subsidies. Geopolitical factors, including inflation, tariffs and regional conflicts, continue to create volatility in the global economy, including the potential for energy shortages, employment disruptions, supply chain constraints and delays in deliveries, as well as logistics interruptions. Global industry demand for farm equipment, driven by farm income, declined in 2025 in most major markets compared to 2024. The future demand for agricultural equipment will be influenced by the factors noted above. 2025 Compared to 2024 Financial Highlights Net income (loss) attributable to AGCO Corporation for 2025 was $726.5 million, or $9.75 per diluted share, compared to $(424.8) million, or $(5.69) per diluted share for 2024. Net sales for 2025 were $10,082.0 million, or 13.5% lower than 2024, primarily due to lower sales volumes resulting from softer industry sales reflecting lower end market demand and the divestiture of the majority of the Company's G&P business on November 1, 2024, partially offset by favorable currency impacts. Income (loss) from operations was $595.7 million in 2025 compared to $(122.1) million in 2024. During 2024, we recorded a loss on sale of business of $507.3 million related to the sale of the majority of the Company's G&P business and impairment charges of $369.5 million primarily related to the impairment of goodwill. Additionally, the increase in income from operations in 2025 was primarily the result of decreases in restructuring and business optimization expenses and selling, general and administrative expenses (“SG&A expenses”) primarily related to lower compensation costs and transaction costs, partially offset by lower sales and production volumes reflecting weak industry conditions. Refer to “Financial Highlights” under Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” for additional information. Competition The agricultural industry is highly competitive. We compete with several large national and international full-line suppliers, as well as numerous short-line and specialty manufacturers with differing manufacturing and marketing methods. Our two principal competitors on a worldwide basis are Deere & Company and CNH Industrial N.V. We have regional competitors around the world that have significant market share in a single country or a group of countries. Additionally, the industry is attracting technology-focused companies and start-up ventures as technology increasingly impacts all aspects of the crop cycle. We believe several key factors influence a buyer’s choice of farm equipment, including the strength and quality of a company’s dealers, the quality and pricing of products, dealer or brand loyalty, product availability, terms of financing and customer service. Refer to “Marketing and Distribution” for additional information. 3

Marketing and Distribution Dealers and Distributors We distribute products primarily through a network of independent dealers and distributors. Our dealers are responsible for retail sales of equipment to end users and after-sales service and support. Our distributors may sell our products through networks of dealers supported by the distributors, and our distributors also may directly market our products and provide customer service support. Our sales are not dependent on any specific dealer, distributor or group of dealers. In some countries, we utilize associates and licensees to provide a distribution channel for our products and a source of low-cost production for certain products. Independent Dealers and Distributors Percent of Net Sales Geographical Region 2025 2025 2024 2023 Europe .................................................................................................... 930 64 % 55 % 49 % North America ....................................................................................... 1,190 17 % 24 % 26 % South America ....................................................................................... 320 11 % 11 % 16 % Rest of World (1) ...................................................................................... 360 8 % 10 % 9 % ____________________________________ (1) Consists of countries in Africa, the Middle East, Australia and Asia. Dealer Support and Supervision We believe that one of the most important criteria affecting a farmer’s decision to purchase a particular brand of equipment is the quality of the dealer who sells and services the equipment. We support our dealers in order to improve the quality of our dealer network. FarmerCore is our global initiative to deliver a next generation farmer and dealer experience built on three pillars: the on-farm mindset, smart network coverage and digital engagement. FarmerCore is being implemented in close partnership with AGCO’s global dealer network and continues to progress in the North and South America dealer organizations, with continued expansion to other markets planned in the future. We monitor each dealer’s performance and profitability and establish programs that focus on continuous dealer improvement. Our dealers generally have sales territories for which they are responsible. We believe that our ability to offer our dealers a full product line of agricultural machines and precision agriculture technology, as well as our digital tools to support the dealer’s sales, marketing, warranty and servicing efforts, helps ensure the vitality and increases the competitiveness of our dealer network. We also maintain dealer advisory groups to obtain dealer feedback on our operations. We provide our dealers with volume sales incentives, demonstration programs and other advertising support to assist sales. We design our sales programs, including retail financing incentives, and our policies for maintaining parts and service availability with extensive product warranties to enhance our dealers’ competitive position. Resources Manufacturing and Assembly We manufacture and assemble our products globally. Our locations are intended to optimize capacity, technology and local costs. We balance our manufacturing resources with externally-sourced machinery, components and/or replacement parts to enable us to better control costs, inventory levels and our supply of components. We believe that our manufacturing facilities are sufficient to meet our needs for the foreseeable future. Refer to Item 2, “Properties,” for a listing of our principal manufacturing locations. Our AGCO Power division produces diesel engines, gears and generating sets. The diesel engines are manufactured for use in a majority of our tractors, combines and sprayers, and also are sold to third parties. AGCO Power specializes in the manufacturing of off-road engines in the 75 to 500 horsepower range. 4

Components and Third-Party Suppliers We externally source some of our machinery, components and replacement parts from third-party suppliers. Our production strategy is intended to optimize our research and development and capital investment requirements and to allow us greater flexibility to respond to changes in market conditions. We purchase some fully manufactured tractors from Tractors and Farm Equipment Limited (“TAFE”), SDF S.p.A., Carraro S.p.A. and Iseki & Company, Limited. We also purchase other tractors, implements and hay and forage equipment from various third-party suppliers. On April 26, 2024, we gave notice to TAFE that the Company was terminating all of its commercial relationships with TAFE. Refer to Note 18 of our Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for further discussion of our relationship with TAFE. In addition to the purchase of machinery, third-party suppliers supply us with significant components used in our manufacturing operations. We select third-party suppliers that we believe are low cost and high quality and possess the most appropriate technology. We also assist in the development of these products or component parts based upon our own design requirements. While our past experience with outside suppliers generally has been favorable, we have previously experienced supply chain disruptions for several key components, such as semiconductors, and there can be no assurance that there will not be future disruptions. Intellectual Property We own and have licenses to the rights under a number of domestic and foreign patents, trademarks, trade names and brand names relating to our products and businesses. We defend our patent, trademark and trade and brand name rights primarily by monitoring competitors’ machines and industry publications and conducting other investigative work. We consider our intellectual property rights, including our right to use our trade and brand names, important in the operation of our businesses. However, we do not believe we are dependent on any single patent or group of patents, although several of our trade and brand names are internationally recognized and are important to our operations. We intend to maintain the separate strengths and identities of our core brand names and product lines. Engineering, Research and Innovation We make significant expenditures for engineering and applied research to improve the quality and performance of our products, to develop new products and technologies which enhance agriculture and integrate sustainability and to comply with government safety and engine emissions regulations. We invest significantly in innovation, and our technologies have received industry recognition and awards, which we believe validate these efforts. Through AGCO Ventures, we source and fund new technologies to drive and support farmers worldwide. This initiative actively connects our business needs with industry and market perspectives to identify investment and engagement opportunities in startup companies, corporate venture funds, incubators, accelerators, higher education and research institutions. AGCO Ventures supports the accelerated development of critical capabilities and competencies across three strategic areas: decision support, workflow and execution and clean energy transition. Wholesale Financing, Sales Terms and Accounts Receivable Sales Agreement Primarily in the United States and Canada, we engage in the standard industry practice of providing dealers with floor plan payment terms for their inventories of farm equipment for extended periods, generally through our AGCO Finance joint ventures. The terms of our wholesale finance agreements with our dealers vary by region and product line, with fixed payment schedules on all sales, generally ranging from one to 12 months. In the United States and Canada, dealers typically are not required to make an initial down payment, and our terms allow for an interest-free period generally ranging from one to 12 months, depending on the product. Amounts due from sales to dealers in the United States and Canada are immediately due upon a retail sale of the underlying equipment by the dealer. If not previously paid by the dealer, installment payments generally are required beginning after the interest-free period with the remaining outstanding equipment balance generally due within 12 months after shipment. In limited circumstances, we provide sales terms, and in some cases interest-free periods, that are longer than 12 months for certain products. These typically are specified programs, predominantly in the United States and Canada, where interest is charged after a period of up to 24 months, depending on various factors including dealers’ sales volumes during the preceding year. We generally obtain a security interest in the new and used equipment we finance. 5

Sales terms outside the United States and Canada are typically of a shorter duration, generally ranging from 30 to 180 days. In many cases, we retain a security interest in the equipment sold on extended terms. In certain international markets, our sales are often backed by letters of credit or credit insurance. We have accounts receivable sales agreements that permit transferring, on an ongoing basis, a majority of our wholesale receivables in North America, Europe and Brazil to our AGCO Finance joint ventures in the United States, Canada, Europe and Brazil. Upon transfer, the wholesale receivables maintain standard payment terms, including required regular principal payments on amounts outstanding and interest charges at market rates. Qualified dealers may obtain additional financing through our U.S., Canadian, European and Brazilian finance joint ventures at the joint ventures’ discretion. In addition, our AGCO Finance joint ventures may provide wholesale financing directly to dealers in Europe, Brazil and Australia. We also sell certain trade receivables under factoring arrangements to other third-party financial institutions around the world, and we account for the sale of such receivables as off-balance sheet transactions. Retail Financing Our AGCO Finance joint ventures provide farmers and dealers with flexible financing solutions for agricultural equipment products, supporting growth, innovation, and sustainability across the full scope of farming operations. These joint ventures offer both retail financing and wholesale financing to our dealers in the United States, Canada, Europe, Brazil, Argentina, and Australia. AGCO Finance equity joint ventures are structured with AGCO holding a 49% ownership interest, with the remaining interest owned by a wholly owned subsidiary of Rabobank. The majority of the assets of the finance joint ventures consist of finance receivables. The majority of the liabilities consist of notes payable and accrued interest. Under the various joint venture agreements, Rabobank provides financing to the AGCO Finance joint ventures, primarily through lines of credit. We continually evaluate opportunities to balance regulatory capital requirements and prudent capital allocation, while maintaining our partnership and commitment to offering competitive financing solutions to our farmers and dealers. We do not guarantee the debt obligations of the joint ventures. In the United States and Canada, we guarantee certain minimum residual values to those joint ventures upon expiration of certain eligible operating leases between the finance joint ventures and end users. We also have other guarantees with our other finance joint ventures. Refer to Note 22 of our Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for additional information. In addition, Rabobank is the primary lender with respect to our credit facility and our senior term loan, as are more fully described in “Liquidity and Capital Resources” within Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Our historical relationship with Rabobank has been strong, and we anticipate its continued long-term support of our business. Seasonality Generally, retail sales by dealers to farmers are highly seasonal and largely are a function of the timing of the planting and harvesting seasons. To the extent possible, we attempt to ship products to our dealers and distributors on a level basis throughout the year to reduce the effect of seasonal retail demands on our manufacturing operations and to minimize our investment in inventory. Our financing requirements are subject to variations due to seasonal changes in working capital levels, which typically increase in the first half of the year and then decrease in the second half of the year. The fourth quarter is also typically a period for higher retail sales because of our customers’ year-end tax planning considerations, the increase in the availability of funds from completed harvests and the timing of dealer incentives. Our net sales and income from operations historically have been the lowest in the first quarter and have increased in subsequent quarters. Environmental Regulations We are subject to environmental laws and regulations concerning emissions to the air, discharges of processed or other types of wastewater, and the generation, handling, storage, transportation, treatment and disposal of waste materials. These laws and regulations are constantly changing, and the effects that they may have on us in the future are impossible to accurately predict. We attempt to comply with all applicable environmental, health and safety laws and regulations. However, we believe that any expense or liability we may incur in connection with noncompliance with laws or regulations or the cleanup of any of our properties will not have a materially adverse effect on us. The engines manufactured by our AGCO Power division, which specializes in manufacturing off-road engines in the 75 to 500 horsepower range, currently comply with emissions standards and related requirements set by European, Brazilian and U.S. regulatory authorities, including both the United States Environmental Protection Agency and various state authorities. We expect to meet future emissions requirements through the introduction of new technology to our engines and exhaust after- 6

treatment systems, as necessary. In some markets, such as the United States, we must obtain governmental environmental approvals in order to import our products, and these approvals can be difficult and time-consuming to obtain or may not be obtainable at all. Production at our facilities and sales of our products could be impaired if AGCO Power and our other engine suppliers are unable to timely respond to any changes in environmental laws and regulations affecting engine emissions, including the emissions of greenhouse gases (“GHG”). Compliance with environmental and safety regulations has added, and will continue to add, to the cost of our products and increase the capital-intensive nature of our business. Regulation and Government Policy We have manufacturing facilities or other physical presence globally and sell our products primarily through independent dealers and distributors in approximately 140 countries. This subjects us to a range of trade, product, foreign exchange, employment, tax, tariffs, environmental and other laws and regulations, in addition to the environmental regulations discussed previously, in a significant number of jurisdictions. Many jurisdictions and a variety of laws regulate the contractual relationships with our dealers. These laws impose substantive standards on the relationships between us and our dealers, including events of default, grounds for termination, non-renewal of dealer contracts and equipment repurchase requirements. Such laws could adversely affect our ability to terminate our dealers. In addition, each of the jurisdictions in which we operate or sell products has an important interest in the success of its agricultural industry and the consistency of the availability of reasonably priced food sources. These interests result in active political involvement in the agricultural industry, which in turn, can impact our business in a variety of ways. Sustainability Today’s farmers are navigating a diverse mix of pressures, from climate change and shifting weather patterns to rising input costs and evolving market demands. Our goal is to equip farmers with machines and precision technologies that help sustainably feed the world. Our products enable smart farming practices that improve efficiency, reduce inputs and increase yields. We are also advancing a diverse range of cleaner powertrain solutions, developing alternative-fuel capable systems, hybrid drivetrains, and battery electric tractors to support farmers to reduce emissions while maintaining performance and productivity. In addition, we offer retrofit solutions compatible with mixed-brand fleets, enabling farmers to upgrade existing equipment with advanced technology and improve efficiency, sustainability, and flexibility across their operations. We embed sustainability into our core business strategy, ensuring that innovation and resilience go hand in hand to deliver long-term value for farmers and our stakeholders. Our Resiliency Action Plan outlines key levers to reduce our climate impact across our operations and value-chain while addressing business risks related to climate change mitigation and adaptation. In our operations, we are expanding renewable energy use and furthering initiatives to make our sites more energy efficient. Across our value chain, we deliver more sustainable product solutions, optimize transportation and logistics and engage suppliers to improve their sustainability performance. Human Capital Our employees are our greatest asset and a key enabler of our success. We have approximately 22,000 employees worldwide, all guided by our Company’s clear purpose – to create farmer-focused solutions to sustainably feed our world. We are dedicated to retaining and developing our employees by promoting safety and well-being, providing opportunities for them to learn and lead, and creating a culture where they feel welcomed, valued, and heard. Our compensation programs, practices, and policies reflect our commitment to reward short and long-term performance that aligns with and drives shareholder value. Total direct compensation is generally positioned within a competitive range of the market median, with differentiation based on tenure, skills, proficiency and performance to attract and retain key talent. In addition to salaries, our compensation programs include annual short-term and long-term incentives and participation in various retirement savings plans, dependent upon the position and level of employee and the countries in which we operate. In 2025, our voluntary employee turnover rate was approximately 4.3%, compared to 6.9% in 2024. In 2025, we introduced the Employee Stock Purchase Plan (“ESPP”) allowing our employees the opportunity to acquire an interest in the Company through the purchase of shares of our common stock (which are offered at a discounted purchase price). The ESPP is intended to build an ownership mindset among employees, foster employees’ commitment to the Company and allow employees to share in the growth and success of the Company. 7

Our employees engage in learning and development targeted to their current roles and future career aspirations. This includes completing online, self-directed and instructor-led courses across a broad range of categories – leadership, professional skills, technical competencies and compliance. Compliance training includes educating our employees about AGCO’s cultural beliefs and ensuring they comply with our global Code of Conduct and associated policies, including anti-bribery/corruption, data privacy and cybersecurity, conflicts of interest, discrimination and workplace harassment and sexual harassment. We are deeply committed to identifying and developing the next generation of top-tier leadership by placing focus on technologically innovative talent. We conduct quarterly in-depth talent and succession reviews with our senior leadership team that concentrate on accelerating talent development and strengthening succession pipelines for our most critical roles, including recruiting from within. We review our succession plans with our Board’s Talent and Compensation Committee annually. In 2025, we shared our fifth annual global employee experience and engagement survey to all employees across our offices and shop floor locations worldwide to seek feedback on what we are doing well and where we can improve. The results showed a favorable engagement score of approximately 67%, which aligns with our core employee engagement index metric, based upon 85% workforce participation. In addition to our annual survey, we conducted intermittent pulse surveys, which enabled real-time feedback on targeted topics. We are committed to ensuring our Board is highly-skilled and gender-diverse. Three of our current nine board members are women. Women represent approximately 19% of our full-time executive positions at the senior vice president and vice president levels, and approximately 20% of our overall full-time management-level employees. We want to increase the percentage of female representation in our full time management-level employee group and our overall global employee base. Health, Wellness and Safety We are committed to the health, safety and wellness of our employees, striving to work safely, every day in every way. Our health and safety program focuses on risk reduction and safety management systems that promote preventative measures. We have implemented many leading and lagging indicators for enabling employee health and safety. Leading indicators are measured using proactive prevention programs that are designed to reduce overall risks by implementing risk assessments, ergonomic assessments and incident investigations to include detailed root cause corrective action analysis, near-miss corrective actions, and behavioral-based safety programs. The lagging indicators are measured by each of our facilities and demonstrate the current state regarding injury rates such as total case incident rate (“TCIR”). This is the fourth year in a row we achieved double digit improvement in our global TCIR rate. We reported a global TCIR of 0.62 in 2025 compared to 0.89 in 2024, which is an approximate 30% decrease and exceeded our target to achieve a target TCIR equal to 1.0 by 2025. Unions, Collective Bargaining Agreements and Work Councils Of our worldwide employees, approximately 4,000 are located in the United States. Many of our global manufacturing employees, and some other employees, are represented by unions and works councils, and a significant number of our employees are subject to collective bargaining agreements that typically are for terms of three to five years and are renegotiated in connection with renewals. We currently do not expect any significant difficulties in renewing these agreements. Human Rights Policy We are committed to respecting human rights in all aspects of our global operations under our global Human Rights Policy. We believe that we have a responsibility to ensure that human rights are understood and observed in every region in which we operate. We strive to foster safe, inclusive and respectful workplaces wherever we do business, including prohibiting human trafficking, slavery, child labor or any other form of forced or involuntary labor. Our commitment to human rights also includes improving agricultural prosperity and supporting marginalized farmers and vulnerable populations in developing countries where our activities contribute to addressing adverse human rights impacts. Through our AGCO Agriculture Foundation, as well as our brand and regional engagement activities, we support a variety of non-profit organizations and local community-based groups. Additionally, we have an Employee Relief Fund to provide critical support for our employees in the wake of significant crisis events such as natural disasters. 8

Available Information Our website address is www.agcocorp.com. We make available, free of charge, on the “Investors” section of our website, reports that we file with the Securities and Exchange Commission (“SEC”), including: • annual reports on Form 10-K; • quarterly reports on Form 10-Q; • current reports on Form 8-K; • proxy statements for the annual meetings of stockholders; and • reports on Form SD. These reports are made available on our website as soon as practicable after they are filed with the SEC. The SEC also maintains a website (www.sec.gov) that contains our reports and other information filed with the SEC. We also provide corporate governance and other information on our website, including: • charters for the standing committees of our Board of Directors, which are available under the “Investors” section of our website under the heading “Governance,” and • our Global Code of Conduct, which is available under the “About Us” section of our website under the heading “Code of Conduct.” In the event of any waivers of our Global Code of Conduct, such waivers will be disclosed under the “Code of Conduct” section of our website. None of these materials, including the other materials available on our website, is incorporated by reference into this Form 10-K unless expressly provided. 9

Item 1A. Risk Factors We make forward-looking statements in this report, in other materials we file with the SEC, on our website, in press releases and in materials that we otherwise share with the public. In addition, our senior management makes forward-looking statements to investors, analysts, the media and others. Statements, including the statements contained in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” concerning our future operations, prospects, strategies, products, manufacturing facilities, legal proceedings, financial condition, financial performance (including net sales, earnings and related growth) and demand for our products and services, as well as other statements of our beliefs or expectations of industry conditions, foreign currency translation impacts, market demand, supply chain and logistics disruptions, farm incomes, weather conditions, commodity and protein prices, general economic conditions, dividends, share repurchases, availability of financing, working capital, capital expenditures, debt service requirements, margins, production and sales volumes, factory productivity, pricing impacts, material costs, benefits from cost reduction initiatives, investments in, and results of, product development and enhancement, compliance with financial covenants, support from lenders, recovery of amounts under guarantee, uncertain income tax provisions, tax rates, funding of our pension and postretirement benefit plans, or realization of net deferred tax assets, are forward-looking statements. The forward-looking statements we make are not guarantees of future performance and are subject to various assumptions, risks and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These factors include, among others, those set forth below and in the other documents that we file with the SEC. There also are other factors that we may not describe, generally because we currently do not perceive them to be material, or likely to become material, that also could cause actual results to differ materially from our expectations. These risks could impact our business in a number of ways, including by negatively impacting our future results of operations, cash flows and financial condition. For simplicity, below we collectively refer to these potential impacts as impacts on our “performance.” We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Market, Economic and Geopolitical Risks Our financial results depend entirely upon the agricultural industry, and factors that adversely affect the agricultural industry generally, including declines in the general economy, increases in farm input costs, unfavorable weather conditions and lower commodity and protein prices, adversely affect our performance. Our success depends entirely on the vitality of the agricultural industry. Historically, the agricultural industry has been cyclical and subject to a variety of economic and other factors. Sales of agricultural equipment, in turn, also are cyclical and generally reflect the economic health of the agricultural industry. The economic health of the agricultural industry is affected by numerous factors, including farm income, farm land values and debt levels and financing costs, all of which are influenced by levels of commodity and protein prices, acreage planted, crop yields, agricultural product demand, farm input costs, government policies, tariffs and government subsidies. The economic health of the agricultural industry also is influenced by general economic conditions, interest rate and exchange rate levels, and the availability of financing for retail customers, including government financing subsidies to farmers, which can be significant in countries such as Brazil, as discussed elsewhere in this “Risk Factors” section. Trends in the agricultural industry, such as farm consolidations, may affect the agricultural equipment market. In addition, weather conditions, such as floods, heat waves or droughts, and pervasive livestock or crop diseases affect farmers’ buying decisions. Downturns in the agricultural industry due to these or other factors, which could vary by market, can result in decreases in demand for agricultural equipment, which would adversely affect our performance. Moreover, the unpredictable nature of many of these factors and the resulting volatility in demand make it difficult for us to accurately predict sales and optimize production. This, in turn, can result in higher costs, including inventory carrying costs and underutilized manufacturing capacity. During previous downturns in the agricultural industry, we experienced significant and prolonged declines in our performance, and we expect our business to remain subject to similar market fluctuations in the future. The agricultural equipment industry is highly seasonal, and seasonal fluctuations significantly impact our performance. The agricultural equipment business is highly seasonal, which causes our quarterly results and our cash flow to fluctuate during the year. Farmers generally purchase agricultural equipment in the spring and fall in conjunction with the major planting and harvesting seasons. In addition, the fourth quarter typically is a significant period for retail sales because of year- end tax planning considerations, the increase in availability of funds from completed harvests, and the timing of dealer 10

incentives. Our net sales and income from operations historically have been the lowest in the first quarter and have increased in subsequent quarters. Most of our sales depend on the availability of financing to retail customers, and any disruption in their ability to obtain financing, whether due to economic downturns or otherwise, will result in the sale of fewer products by us. In addition, the collectability of receivables that are created from our sales, as well as from such retail financing, is critical to our business. Most retail sales of our products are financed, either by our AGCO Finance joint ventures or by a bank or other private lender. The AGCO Finance joint ventures, which are controlled by Rabobank and are dependent upon Rabobank for financing as well, finance approximately 50% of the retail sales of our tractors and combines in the markets where the joint ventures operate. Any difficulty by Rabobank in continuing to provide that financing, or any business decision by Rabobank as the controlling member not to fund the business or particular aspects of it (for example, a particular country or region), would require the joint ventures to find other sources of financing (which may be difficult to obtain) or would require us to find other sources of financing for our dealers and their retail customers. If we are unable to obtain other sources of financing, our dealers and their retail customers would be required to utilize other retail financing providers, which may or may not be available. In an economic downturn, we expect that financing for capital equipment purchases generally would become more difficult and more expensive to obtain. To the extent that financing is not available, or available only at unattractive prices, it would negatively impact our performance. Both AGCO and our AGCO Finance joint ventures have substantial accounts receivable from dealers and retail customers and are adversely impacted when collectability is less than optimal. Overall collectability depends upon the financial strength of the agricultural industry, which in turn depends upon the factors discussed elsewhere in this “Risk Factors” section. Certain finance joint ventures lease equipment that may experience residual value losses that exceed expectations caused by lower pricing for used equipment and higher than expected returns at lease maturity. AGCO guarantees minimum residual values for some of the leased equipment. To the extent that defaults and losses are higher than expected, our equity in the net earnings of the finance joint ventures would be less, or there could be losses, which could materially impact our performance. A majority of our sales and manufacturing take place outside the United States, and, as a result, we are exposed to risks related to foreign laws, tariffs, taxes, economic conditions, labor supply and relations, political conditions and governmental policies as well as U.S. laws governing who we sell to and how we conduct business. These risks may delay or reduce our realization of value from our international operations. A majority of our sales are derived from sales outside the United States. The foreign countries in which our sales are the greatest are Germany, France, Brazil, the United Kingdom, Australia, Italy, Finland and Canada. We have significant manufacturing operations in France, Germany, Brazil, Italy and Finland, and we have established manufacturing operations in emerging markets, such as China. Many of our sales involve products that are manufactured in one country and sold in a different country, and therefore, our performance can be adversely affected by adverse changes, in either the country of origin or the country of destination, by the factors discussed elsewhere in this “Risk Factors” section, particularly the factors that impact the delivered cost of our products. Our business practices in these foreign countries must comply with not just local law, but also U.S. law, including limitations on where and to whom we may sell products and the Foreign Corrupt Practices Act (“FCPA”). We have a compliance program in place designed to reduce the likelihood of violations of these laws, but it is difficult to identify and prevent violations. Significant violations could subject us to fines and other penalties as well as increased compliance costs. Some of our international operations also are, or might become, subject to various risks that are not present in domestic operations, including restrictions on dividends and the repatriation of funds. Foreign emerging markets may present special risks, such as unavailability of financing, inflation, slow economic growth, price controls and difficulties in complying with U.S. regulations. Domestic and foreign political developments and government regulations and policies directly affect the international agricultural industry, which affects the demand for agricultural equipment. Declines in demand for agricultural equipment adversely affect our performance. Future pandemics, in addition to related or unrelated application, modification or adoption of laws, regulations, trade agreements or policies, can adversely affect the agricultural industry, including the imposition of import and export duties and quotas, expropriation and potentially burdensome taxation, and could have an adverse effect on our performance. Trade restrictions, including potential withdrawal from or modification of existing trade agreements, negotiation of new trade agreements, and imposition of new (and retaliatory) tariffs against certain countries or covering certain products, could limit our ability to capitalize on current and future growth opportunities in the international markets in which we operate and impair our ability to expand our business by offering new technologies, products and services. These changes, particularly increases in the cost of steel, also can impact the cost of the products we manufacture. Trade restrictions and changes in, or uncertainty surrounding, global trade policy also could affect our competitive position. 11

The recent announcements of significant trade policy and tariff actions by the U.S. government, including but not limited to tariffs on imported steel and aluminum products, tariffs on certain imports from China, tariffs on certain imports from Canada and Mexico, announced trade deal between the United States and European Union of baseline tariffs on certain imports from the European Union, and baseline tariffs on most imports from most other countries, continue to create significant uncertainty and potential risks for our business. These announcements in some cases were followed by delays and changes in implementation, and the ultimate tariff structures are unclear at the current time. Depending on the countries affected, increases in tariffs have raised the costs of inputs used in manufacturing our products, which in turn has impacted our cost of goods sold. Additionally, higher tariffs may lead to increased after-tariff sales prices for the products we sell. The impacts of the tariffs may be partially mitigated as a majority of our sales and manufacturing takes place outside the United States. While we are actively exploring opportunities to mitigate these increased costs, there can be no guarantee that we will be able to fully offset the impact of these tariffs. Furthermore, the imposition of retaliatory tariffs from other countries on our exported products could negatively affect our sales and marketplace access in those countries. Moreover, the uncertainty of the enforceability of the tariffs, any changes to such tariffs and any future trade policy changes has adversely impacted, and is expected to continue to adversely impact, our sales. For more information on the risks surrounding tariffs and trade regulation, see the risk factor titled “Changes to United States tax, tariff, trade and import/export regulations may have a negative effect on global economic conditions, financial markets and our business.” As previously discussed, the health of the agricultural industry and the ability of our international dealers and retail customers to operate their businesses, in general, are affected by domestic and foreign government programs that provide economic support to farmers. As a result, farm income levels and the ability of farmers to obtain advantageous financing and other protections would be reduced to the extent that any such programs are curtailed or eliminated. A recent freeze on the provision of funding and spending in foreign countries through U.S. foreign aid programs has created economic uncertainty for farmers, and more permanent suspensions or reductions in the provision of foreign aid by the U.S. could occur in the future and create greater global uncertainty. Any such reductions likely would result in a decrease in demand for agricultural equipment. For example, a decrease or elimination of current price protections for commodities or of subsidy payments or financing rate subsidies for farmers in the European Union, the United States, Brazil or elsewhere would negatively impact the operations of farmers in those regions, and, as a result, our sales may decline if these farmers delay, reduce or cancel purchases of our products. In emerging markets, some of these (and other) risks can be greater than they might be elsewhere. In addition, the financing provided by the AGCO Finance joint ventures or by others in certain jurisdictions is supported by a government subsidy or guarantee in some markets, including financing rate subsidies. The programs under which those subsidies and guarantees are provided generally are of limited duration and subject to renewal and contain various caps and other limitations. In some markets, for example Brazil, this support is quite significant and, from time to time, has not been available. In the event the governments that provide this support elect not to renew these programs, and were financing not available on reasonable terms, whether through our AGCO Finance joint ventures or otherwise, our performance would be negatively impacted. In 2025 and 2024, we had net sales of approximately $114 million and $90 million, respectively, in Ukraine. As of December 31, 2025 and 2024, we had less than $15 million in assets in Ukraine. It is unclear what impact the hostilities in Ukraine going forward will have on our net sales or assets. We assess the fair value of our assets in Ukraine for potential impairment on a periodic basis as warranted. In addition, AGCO sells products in, and purchases parts and components from, other regions where there could be hostilities. Should hostilities arise, we would expect our sales to decline and for our parts and component deliveries to be interrupted, which would adversely impact our performance. As a result of the multinational nature of our business and the acquisitions that we have made over time, our corporate and tax structures are complex, with a significant portion of our operations being held through foreign holding companies. As a result, we are subject to taxation from multiple tax jurisdictions, and it can be inefficient, from a tax perspective, for us to repatriate or otherwise transfer funds. In addition, we must comply with a greater level of tax-related regulation and reviews by multiple governmental units than do companies with a more simplified structure. Our foreign and U.S. operations also routinely sell products to, and license technology to, other operations of ours. The pricing of these intra-company transactions is subject to regulation and review as well. While we make every effort to comply with all applicable tax laws, audits and other reviews by governmental entities for non-compliance could result in our companies being required to pay additional taxes, interest and penalties, which could have an adverse effect on our international operations. 12

We face significant competition, and, if we are unable to compete successfully against other agricultural equipment manufacturers, we will lose dealers and their retail customers and our performance will decline. The agricultural equipment business is highly competitive, particularly in our major markets. Our two key competitors, Deere & Company and CNH Industrial N.V., are substantially larger than we are and have greater financial and other resources. In addition, in some markets, we compete with smaller regional competitors with significant market share in a single country or group of countries. Our competitors may substantially increase the resources devoted to the development and marketing, including discounting, of products that compete with our products, which would necessitate our making similar expenditures. Additionally, the industry is attracting technology-focused companies and start-up ventures as technology increasingly impacts all aspects of the crop cycle. Competitive pressures in the agricultural equipment business may affect the market prices of new and used equipment, which, in turn, may adversely affect our performance. We maintain an independent dealer and distribution network in the markets where we sell products. The financial and operational capabilities of our dealers and distributors are critical to our ability to compete in these markets. In addition, we compete with other manufacturers of agricultural equipment for dealers. If we are unable to compete successfully against other agricultural equipment manufacturers, we could lose dealers and their retail customers and performance may decline. Our expansion plans in emerging markets entail significant risks. Our long-term strategy includes establishing a greater manufacturing and supply-chain and/or marketing presence in emerging markets. As we progress with these efforts, it will involve a significant investment of capital and other resources and entail various risks. These include risks attendant to obtaining necessary governmental approvals and the construction of facilities in a timely manner and within cost estimates, the establishment of supply channels, the commencement of efficient manufacturing operations, and, ultimately, the acceptance of the products by retail customers. While we expect the expansion to be successful, should we encounter difficulties involving these or similar factors, it may not be as successful as we anticipate and could adversely impact our performance. Inflation can impact our costs and sales. We have previously experienced significant inflation in a range of costs, including for parts and components, labor, transportation, logistics, and energy. While inflation has continued to ease in 2025, and we were able to pass along these higher costs through increased prices, there can be no assurance that we will be able to continue to do so in the future. If we are not, it will adversely impact our performance. Product Development, Manufacturing and Operations Our success depends on the introduction of new products, which requires substantial expenditures. Our long-term results depend upon our ability to introduce and market new products successfully. The success of our new products will depend on a number of factors, including: • our ability to innovate or adapt to new or emerging technologies, such as artificial intelligence; • customer acceptance; • the efficiency of our suppliers in providing component parts and of our manufacturing facilities in producing final products; and • the performance and quality of our products relative to those of our competitors. As both we and our competitors continuously introduce new products or refine versions of existing products, we cannot predict the level of market acceptance or the amount of market share our new products will achieve. We have experienced delays in the introduction of new products in the past, and we may experience delays in the future. Any delays or other problems with our new product launches, such as high warranty costs, will adversely affect our performance. In addition, introducing new products can result in decreases in revenues from our existing products. Consistent with our strategy of offering new products and product refinements, we expect to make substantial investments in product development and refinement. We may need more funding for product development and refinement than is readily available, which could adversely affect our performance. Our failure to innovate and to develop products that capitalize on new technologies could have an adverse effect on our business, financial condition, and results of operations. 13

The introduction of new technologies involves risk, and, from time to time, we may fail to realize their anticipated benefits. Our success depends, in part, on our ability to identify, adopt and integrate new digital technologies, including artificial intelligence, into our operations, business processes, products and services in a timely, cost-effective, compliant, and responsible manner. Our competitors and other third parties may incorporate artificial intelligence into their operations and processes more quickly or more successfully than us, which could impair our ability to compete effectively. Legislation and regulations governing the development and use of artificial intelligence have been passed or are under consideration in the United States at the state and local level, as well as internationally. As a result, the ability to use artificial intelligence and other emerging technologies may be constrained by current or future laws and regulations. Such regulations may result in significant operational costs to modify, maintain, or align our business practices, or constrain our ability to develop, deploy, or maintain these technologies. If we are unable to deliver precision agriculture and high-tech solutions to our customers, it could materially adversely affect our performance. Increasingly our customers are implementing precision farming solutions. In order to remain competitive, we have been able to successfully acquire or develop and introduce new solutions that improve profitability and sustainable farming techniques. Our precision technology products include both hardware and software components that relate to guidance, telemetry, automation, autonomy and connectivity solutions. We expect to make significant investments in research and development expenses, acquisitions of businesses, collaborative arrangements and other sources of technology to drive these outcomes. These investments include the acquisition of the agriculture assets and technologies of Trimble through the formation of a joint venture of which we own 85% as further discussed in the PTx Trimble joint venture transaction risk factor below. Such investments may not produce attractive solutions for our customers. We also may have to depend on third parties to supply certain hardware or software components or data services in our precision technology products. Our dealers' ability to support such solutions also may impact our customers, acceptance of our products and demand of such products. Rationalization or restructuring of manufacturing facilities, and plant expansions and system upgrades at our manufacturing facilities, may cause production capacity constraints and inventory fluctuations. The rationalization of our manufacturing facilities has at times resulted in, and similar rationalizations or restructurings (including relocating production from one facility to another) in the future may result in, temporary constraints upon our ability to produce the quantity of products necessary to fill orders and thereby complete sales in a timely manner. In addition, system upgrades at our manufacturing facilities that impact ordering, production scheduling, manufacturing and other related processes are complex, and could impact or delay production. A prolonged delay in our ability to fill orders on a timely basis could affect customer demand for our products and increase the size of our product inventories, causing future reductions in our manufacturing schedules and adversely affecting our performance. Moreover, our continuous development and production of new products often involve the retooling of existing manufacturing facilities. This retooling may limit our production capacity at certain times in the future, which could adversely affect our performance. In addition, the expansion and reconfiguration of existing manufacturing facilities, as well as new or expanded manufacturing operations in emerging markets, could increase the risk of production delays, as well as require significant investments. We depend on suppliers for components, parts and raw materials for our products, and any failure by our suppliers to provide products as needed, or by us to promptly address supplier issues, will adversely impact our ability to timely and efficiently manufacture and sell products. We also are subject to raw material price fluctuations, which can adversely affect our manufacturing costs. Our products include components and parts manufactured by others. As a result, our ability to timely and efficiently manufacture current products, to introduce new products, and to shift manufacturing of products from one facility to another depends on the quality of these components and parts and the timeliness of their delivery to our facilities. We have previously experienced significant supply chain interruptions, including delays in timely deliveries of components, and there can be no assurance that there will not be future disruptions. In addition, the potential of future natural gas shortages in Europe, as well as predicted overall shortages in other energy sources, could also negatively impact our production and that of our supply chain in the future. At any particular time, we depend on numerous suppliers, and the failure by one or more of our suppliers to perform as needed will result in fewer products being manufactured, shipped and sold. If the quality of the components or parts provided by our suppliers is less than required and we do not recognize that failure prior to the shipment of our products, we will incur higher warranty costs. The timely supply of component parts for our products also depends on our ability to manage our relationships with suppliers, to identify and replace suppliers that fail to meet our schedules or quality standards, and to monitor the flow of components and accurately project our needs. The shift from our existing suppliers to new suppliers, including 14

suppliers in emerging markets, also may impact the quality and efficiency of our manufacturing capabilities, as well as warranty costs. Changes in the availability and prices of certain raw materials, components and parts could result in production disruptions or increased costs and lower profits on the sale of our products. Changes in the availability and price of these raw materials, components and parts, which have fluctuated significantly in the past and are more likely to fluctuate during times of economic volatility, as well as regulatory instability or change in tariffs, can significantly increase the costs of production. This, in turn, could have a material negative effect on performance, particularly if, due to pricing considerations or other factors, we are unable to recover the increased costs through pricing from our dealers. We may encounter difficulties in integrating businesses we acquire and may not fully achieve, or achieve within a reasonable time frame, expected strategic objectives and other expected benefits of the acquisitions. From time-to-time we seek to expand through acquisitions of other businesses. We expect to realize strategic and other benefits as a result of our acquisitions, including, among other things, the opportunity to extend our reach in the agricultural industry and provide our dealers and their retail customers with an even wider range of products and services. However, it is impossible to predict with certainty whether, or to what extent, these benefits will be realized or whether we will be able to integrate acquired businesses in a timely and effective manner. For example: • the costs of integrating acquired businesses and their operations may be higher than we expect and may require significant attention from our management; • the businesses we acquire may have undisclosed liabilities, such as environmental liabilities or liabilities for violations of laws, such as the FCPA, that we did not expect; • our ability to successfully carry out our growth strategies for acquired businesses often will be affected by, among other things, our ability to maintain and enhance our relationships with their existing customers, our ability to provide additional product distribution opportunities to the acquired businesses through our existing distribution channels, changes in the spending patterns and preferences of customers and potential customers, fluctuating economic and competitive conditions and our ability to retain their key personnel; and • our approach and strategies with respect to the development and introduction of new precision technology solutions to improve the profitability and sustainability for our farmer customers, including technologies we obtain through acquisitions, investments and joint ventures, may not provide the desired results for our customers. Our ability to address these issues will determine the extent to which we are able to successfully integrate, develop and grow acquired businesses and technologies to realize the expected benefits of these transactions. Our failure to do so could have a material adverse effect on our performance. We may not be able to successfully integrate the PTx Trimble joint venture into our business, which could adversely affect our business or results of operations. We closed the acquisition of the agriculture assets and technologies of Trimble through the formation of the PTx Trimble joint venture, of which we own 85%, on April 1, 2024. Joint venture transactions involve many risks, including the challenges attendant to integrating the operations, technologies, services and products of the acquired lines of businesses, reactions by customers to the transaction, personnel turnover, and the diversion of management's attention from other business matters. We may be unable to achieve anticipated benefits from the transaction in the time frame that we anticipate, or at all. All of these risks, as well as the others that typically accompany a large transaction, could adversely affect our business or results of operations. Our business routinely is subject to claims and legal actions, some of which could be material. We routinely are a party to claims and legal actions incidental to our business. These include claims for personal injuries by users of farm equipment, disputes with distributors, vendors and others with respect to commercial matters, and disputes with taxing and other governmental authorities regarding the conduct of our business, including environmental matters. While these matters generally are not material to our business, it is entirely possible that a matter will arise that is material. 15

In addition, we use a broad range of technology in our products. We developed some of this technology, we license some of this technology from others, and some of the technology is embedded in the components and parts that we purchase from suppliers. From time-to-time, third parties make claims that the technology that we use violates their patent rights. While to date none of these claims have been significant, we cannot provide any assurances that there will not be significant claims in the future or that currently existing claims will not prove to be more significant than anticipated. We are, and in the past have been, subject to the actions of activist stockholders, which could divert management’s attention and negatively impact our business. The Company values constructive input from investors and regularly engages in dialogue with its stockholders regarding strategy and performance. The Company’s Board of Directors and management team are committed to acting in the best interests of all the Company’s stockholders. Stockholders may, from time to time, engage in proxy solicitations or advance stockholder proposals, or otherwise attempt to effect changes and assert influence on our Board of Directors and management. Responding to some of these actions can be costly and time-consuming, may disrupt the Company’s operations and divert the attention of the Board of Directors, management and the Company’s employees. Such activities could interfere with the Company’s ability to execute its strategic plan. Any perceived uncertainties as to our future direction and control, our ability to execute on our strategy, or changes to the composition of our Board of Directors or senior management team arising from a proxy contest could lead to the perception of a change in the direction of our business or instability which may affect the market price and volatility of the Company’s common stock, result in the loss of potential business opportunities, make it more difficult to pursue our strategic initiatives, or limit our ability to attract and retain qualified personnel and business partners, any of which could adversely affect our business and operating results. We may choose to initiate, or may become subject to, litigation as a result of a proxy contest or matters arising from a proxy contest, which would serve as a further distraction to our board of directors and management and would require us to incur significant additional costs. In addition, actions such as those described above could cause significant fluctuations in our stock price based upon temporary or speculative market perceptions or other factors that do not necessarily reflect the underlying fundamentals and prospects of our business. Financial Risks We can experience substantial and sustained volatility with respect to currency exchange rates and interest rates, which can adversely affect our performance and the competitiveness of our products. We conduct operations in a variety of currencies. Our production costs, profit margins and competitive position are affected by the strength of the currencies in countries where we manufacture or purchase goods relative to the strength of the currencies in countries where our products are sold. We also are subject to currency exchange rate risk to the extent that our costs are denominated in currencies other than those in which we denominate sales, and to risks associated with translating the financial statements of our foreign subsidiaries from local currencies into United States dollars. Similarly, changes in interest rates affect us by increasing or decreasing borrowing costs and finance income. Our most significant transactional foreign currency exposures are the Euro, the Brazilian real and the Canadian dollar in relation to the United States dollar, and the Euro in relation to the British pound. Where naturally offsetting currency positions do not occur, we attempt to manage these risks by economically hedging some, but not necessarily all, of our exposures through the use of foreign currency forward exchange or option contracts. As with all hedging instruments, there are risks associated with the use of foreign currency forward exchange or option contracts, interest rate swap agreements and other risk management contracts. While the use of such hedging instruments provides us with protection for a finite period of time from certain fluctuations in currency exchange and interest rates, when we hedge we forego part or all of the benefits that might result from favorable fluctuations in currency exchange and interest rates. In addition, any default by the counterparties to these transactions could adversely affect our performance. Despite our use of economic hedging transactions, currency exchange rate or interest rate fluctuations may adversely affect our performance. We also are subject to the risk of the imposition of limitations by governments on international transfers of funds. In recent years, the Argentine government has substantially limited the ability of companies to transfer funds out of Argentina. In December 2023, the central bank of Argentina adjusted the official foreign currency exchange rate for the Argentine peso, significantly devaluing the currency relative to the United States dollar. In December 2023, we recorded losses of approximately $80.4 million related to the devaluation of the Argentine peso and the related impacts to our AGCO Finance joint venture in Argentina as included within Item 8, “Financial Statements and Supplementary Data.” Further devaluation of the peso or continuation or expansion of limitations of transfer of funds in Argentina or in other markets in which we operate, would adversely affect our performance. Please refer to the “Foreign Currency Risk Management” section within Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” for more information. 16

We have significant pension and retiree healthcare obligations with respect to our employees, and our cash flow available for other purposes may be adversely affected in the event that payments become due under any pension plans that are unfunded or underfunded. Declines in the market value of the securities used to fund these obligations will result in increased pension expense in future periods. A portion of our active and retired employees participate in defined benefit pension and retiree healthcare plans under which we are obligated to provide prescribed levels of benefits regardless of the value of the underlying assets, if any, of the applicable plans. To the extent that our obligations are unfunded or underfunded, we will have to use cash flow from operations and other sources to fulfill our obligations either as they become due or over some shorter funding period. In addition, since the assets that we already have provided to fund these obligations are invested in debt instruments and other securities, the value of these assets varies due to market factors. Historically, these fluctuations have been significant and sometimes adverse, and there can be no assurances that they will not be significant or adverse in the future. Similarly the amount of our obligations varies depending upon mortality assumptions, discount rates, salary growth, retirement rates and ages, inflation, changes in health care costs and similar factors, which generally are not in our control. We also are subject to laws and regulations governing the administration of our plans in certain countries, and the specific provisions, benefit formulas and related interpretations of such laws, regulations and provisions can be complex. Failure to properly administer the provisions of our plans and comply with applicable laws and regulations could have an adverse impact to our results of operations. We have unfunded or underfunded obligations related to our pension and other postretirement health care benefits. See the notes to our Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for more information regarding our unfunded or underfunded obligations. We have substantial goodwill, and impairment of that goodwill could materially impact our results of operations. As of December 31, 2025, we had approximately $1,898.8 million of goodwill reflected on our consolidated balance sheet. As discussed in Note 1 to our Consolidated Financial Statements in Item 8, “Financial Statements and Supplementary Data,” we test goodwill for impairment annually or more often under certain circumstances. Goodwill can be difficult to value, and in all events valuation requires the use of estimates and judgment as discussed in “Critical Accounting Estimates” in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. Our goodwill was created in connection with business acquisitions. If those businesses do not perform as expected, future valuations may not support the amount of goodwill, and we could conclude that an impairment has occurred. Similarly, if the estimates and judgment used in our annual impairment tests prove to be incorrect, impairment could be required. An impairment of goodwill could be significant and could materially impact our results of operations. We have a substantial amount of indebtedness, and, as a result, we are subject to certain restrictive covenants and payment obligations that may adversely affect our ability to operate and expand our business. Our credit facility and certain other debt agreements have various financial and other covenants that require us to maintain certain total debt to EBITDA and interest coverage ratios. In addition, the credit facility and certain other debt agreements contain other restrictive covenants, such as ones that limit the incurrence of indebtedness and the making of certain payments, including dividends, and are subject to acceleration in the event of default. If we fail to comply with these covenants and are unable to obtain a waiver or amendment, an event of default would result. If any event of default were to occur, our lenders could, among other things, declare outstanding amounts due and payable, and our cash may become restricted. In addition, an event of default or declaration of acceleration under our credit facility or certain other debt agreements also could result in an event of default under our other financing agreements. Our substantial indebtedness could have other important adverse consequences such as: • requiring us to dedicate a substantial portion of our cash flows from operations to payments on our indebtedness, which would reduce the availability of our cash flow to fund future working capital, capital expenditures, acquisitions and other general corporate purposes; • increasing our vulnerability to general adverse economic and industry conditions; • limiting our flexibility in planning for, or reacting to, changes in our business and the agricultural industry; • restricting us from being able to introduce new products or pursuing business opportunities; • placing us at a competitive disadvantage compared to our competitors that may have less indebtedness; and 17

• limiting, along with the financial and other restrictive covenants in our indebtedness, among other things, our ability to borrow additional funds, repurchase shares, pay cash dividends or engage in or enter into certain transactions. Changes to United States tax, tariff, trade and import/export regulations may have a negative effect on global economic conditions, financial markets and our business. There have been ongoing discussions and significant changes to United States trade policies, treaties, tariffs and taxes. Although the levels change from period to period, we generally have substantial imports into the United States of products and components that are either produced in our foreign locations or are purchased from foreign suppliers, and also have substantial exports of products and components that we manufacture in the United States. The impact of any changes to current trade, tariff or tax policies relating to imports and exports of goods is dependent on factors such as the treatment of exports as a credit to imports, and the introduction of any tariffs or taxes relating to imports from specific countries. Tariff changes are difficult to predict and may cause us material short-term or long-term cost fluctuations. The recent announcements of significant trade policy and tariff actions by the U.S. government, including but not limited to tariffs on imported steel and aluminum products, tariffs on certain imports from China, tariffs on certain imports from Canada and Mexico, announced trade deal between the United States and European Union of baseline tariffs on certain imports from the European Union, and baseline tariffs on most imports from most other countries, continue to create significant uncertainty and potential risks for our business. These announcements in some cases were followed by delays and changes in implementation, and the ultimate tariff structures are unclear at the current time. Depending on the countries affected, increases in tariffs have raised the costs of inputs used in manufacturing our products, which in turn has impacted our cost of goods sold. Additionally, higher tariffs may lead to increased after-tariff sales prices for the products we sell. The impacts of the tariffs may be partially mitigated as a majority of our sales and manufacturing takes place outside the United States. While we are actively exploring opportunities to mitigate these increased costs, there can be no guarantee that we will be able to fully offset the impact of these tariffs. Furthermore, the imposition of retaliatory tariffs from other countries on our exported products could negatively affect our sales and marketplace access in those countries. Moreover, the uncertainty of the enforceability of the tariffs, any changes to such tariffs and any future trade policy changes has adversely impacted, and is expected to continue to adversely impact, our sales. When increases are made to U.S. duty rates or tariffs, reciprocal action by other countries sometimes occurs, and any such increases could impact the price of our products and cause a decline in the demand for our products. We rely on the use of free trade agreements, where available, that may experience alterations, suspensions or cancellations, which could increase our customs expense or otherwise harm our business. In addition to duties and tariffs, any actions taken by the United States or by foreign countries to further implement trade policy changes, including limiting foreign investment or trade, increasing regulatory requirements, or other actions that impact our ability to obtain necessary licenses or approvals could negatively impact our business. These actions are unpredictable, and any of them could also have a material adverse effect on global economic conditions and the stability of global financial markets, significantly reduce global trade, restrict our access to suppliers or customers, and have a material adverse effect on our business, financial condition and results of operations. Further, the Pacific Rim region is an important producer of parts and components that are critical to our products, particularly semiconductor chips. Should events in that region or between governments in that region and the countries in which we manufacture products deteriorate, it could significantly and adversely impact the availability of parts and components to us, and, correspondingly, our ability to produce products at targeted levels. Changes to income tax laws and regulations, or the interpretation of such laws, in any of the jurisdictions in which we operate could significantly increase our effective tax rate and ultimately reduce our cash flows from operating activities and otherwise have a material adverse effect on our financial condition. On December 15, 2022, the European Union Member States formally adopted the EU’s Pillar Two Directive, which implements a minimum effective tax rate of 15%, as established by the Organization for Economic Co-operation and Development (“OECD”) Pillar Two Framework. The Directive became effective on January 1, 2024, and January 1, 2025, for different components of the rules. Based on currently issued guidance and the Company's assessment to date, the Company does not expect the legislation to result in a material top-up tax for fiscal year 2025. The OECD released a Side-by-Side package on January 5, 2026, introducing a safe harbor that allows eligible U.S.-parented multinational groups to elect out of Pillar Two while remaining subject to domestic top-up taxes. The package becomes applicable for fiscal years beginning on or after January 1, 2026, with additional safe harbors and transitional relief extending into 2027. As this is an evolving area with 18

new guidance and practices being developed, the Company continues to assess the impact of the Pillar Two income taxes legislation on its future financial performance. Future pandemics and public health crises could materially adversely impact our business, financial condition, liquidity and results of operations. Any future pandemic or other new public health crises may disrupt our business in the future, which could materially affect our results of operations, financial condition, liquidity and future expectations. Any such events may adversely impact our global supply chain and global manufacturing operations and cause us to suspend our operations in the affected markets. In particular, we could experience, among other things: continued or additional global supply chain and logistics disruptions; labor disruptions or shortages; an inability to manufacture; and an inability to sell to our customers. Climate Change and Other Environmental Risks We increasingly are subject to risks attendant to climate change. Failure to understand and prepare for the risks related to the transition to a lower-carbon economy, and risks related to the physical impacts of climate change could impact our performance. It is widely recognized that global climate change is occurring. We are unable to predict with any certainty the impacts upon our business of climate change, although we recognize that they are likely to be significant. Among the risks that we face are (i) increased governmental regulation of both our manufacturing operations and the equipment that we produce, (ii) the possibility that we will not become as resource-efficient in our operations as we need to, both as a result of our own actions (or inaction) and those of our suppliers, (iii) that we will not be able to develop new and improved products that help our farmer customers address climate-related changes and opportunities and that keep our products competitive with the products of others, (iv) that climate change will reduce demand for our products, and (v) the impacts on our physical facilities, including from increased severe weather condition risks. The first three of these risks may be considered “transition” risks. Addressing each of these risks is likely to entail the incurrence of significant costs by us, although, in the case of transition risks, we already may be incurring many, if not most, of these costs through our ongoing engine development programs, carbon footprint reduction projects, and our precision farming research and development. However, we may not be able to address these risks effectively and efficiently, which would impact our performance. In addition, regulators in Europe and the U.S. have focused efforts on increasing reporting and disclosure requirements over climate risks, climate change adaptation and mitigation efforts, and GHG. Our failure to comply with any applicable rules or regulations or other criticisms of our sustainability disclosures could lead to penalties or claims and other litigation, impact our reputation, customer attraction and retention, access to capital and employee retention, and otherwise adversely impact our performance. Compliance with these requirements will be complex and expensive. Investors and financial institutions increasingly are expecting the disclosures described above, and some financial institutional investors are assessing their investments and investment opportunities based upon how businesses are addressing climate change. Any failure by us to satisfy their assessments could impact the desirability of an investment in AGCO, our access to capital could be restricted and the share price of our common stock could be impacted. For a discussion of some of the actions that we have taken, see Item 1, “Business”, above. We are subject to extensive environmental laws and regulations, including increasingly stringent engine emissions standards, and our compliance with, or our failure to comply with, existing or future laws and regulations could delay production of our products or otherwise adversely affect our business. In addition to the more general climate change regulation described above, we are subject to increasingly stringent environmental laws and regulations in the countries in which we operate. These regulations govern, among other things, emissions into the air, discharges into water, the use, handling and disposal of hazardous substances, waste disposal and the prevention and remediation of soil and groundwater contamination. Our costs of complying with these or any other current or future environmental regulations may be significant. For example, several countries have adopted more stringent environmental regulations regarding emissions into the air, and it is possible that new emissions-related legislation or regulations will be adopted in connection with concerns regarding GHG. The regulation of GHG emissions from certain stationary or mobile sources could result in additional costs to us in the form of taxes or emission allowances, facilities improvements and energy costs, which would increase our operating costs through higher utility and transportation expenses and costs of materials. Increased input costs, such as fuel and fertilizer, and compliance-related costs also could impact retail customer operations and demand for our equipment. Because the impact of any future GHG legislative, regulatory or product standard requirements on 19

our global businesses and products is dependent on the timing and design of mandates or standards, we are unable to predict its potential impact at this time. In addition, the products that we manufacture or sell, particularly engines, are subject to increasingly stringent environmental regulations, including those that limit GHG emissions. As a result, on an ongoing basis we incur significant engineering expenses and capital expenditures to modify our products to comply with these regulations. Further, we may experience production delays if we or our suppliers are unable to design and manufacture components for our products that comply with environmental standards. For instance, as we are required to meet more stringent engine emission reduction standards that are applicable to engines we manufacture or incorporate into our products, we expect to meet these requirements through the introduction of new technology to our products, engines and exhaust after-treatment systems, as necessary. Failure to meet applicable requirements could materially affect our performance. We also may be subject to liability in connection with properties and businesses that we no longer own or operate. We may be adversely impacted by costs, liabilities or claims with respect to our operations under existing laws or those that may be adopted in the future that could apply to both future and prior conduct. If we fail to comply with existing or future laws and regulations, we may be subject to governmental or judicial fines or sanctions, or we may not be able to sell our products and, therefore, it could adversely affect our performance. We are subject to disclosure obligations with respect to conflict materials. We are subject to SEC disclosure obligations relating to “conflict minerals” (columbite-tantalite, cassiterite (tin), wolframite (tungsten) and gold) that are sourced from the Democratic Republic of Congo or adjacent countries. Complying with these requirements has and will require us to incur additional costs, including the costs to determine the sources of any conflict minerals used in our products and to modify our processes or products, if required. As a result, we may choose to modify the sourcing, supply and pricing of materials in our products. In addition, we may face reputational and regulatory risks if the information that we receive from our suppliers is inaccurate or inadequate, or our process for obtaining that information does not fulfill the SEC’s requirements. We have a formal policy with respect to the use of conflict minerals in our products that is intended to minimize, if not eliminate, conflict minerals sourced from the covered countries to the extent that we are unable to document that they have been obtained from conflict-free sources. Human Capital Risks Our labor force is heavily unionized, and our obligations under collective bargaining agreements and labor laws subject us to the risks of work interruption or stoppage and could cause our costs to be higher. Most of our employees, most notably at our manufacturing facilities, are subject to collective bargaining agreements and union contracts with terms that expire on varying dates. Several of our collective bargaining agreements and union contracts generally are of limited duration and, therefore, must be re-negotiated frequently. As a result, we are at greater risk of work interruptions or stoppages than non-unionized companies, and any work interruption or stoppage could significantly impact the volume of products we have available for sale. In addition, collective bargaining agreements, union contracts and labor laws may impair our ability to streamline existing manufacturing facilities, restructure our business or otherwise reduce our labor costs because of limitations on personnel and salary changes and similar restrictions. Our ability to recruit, develop, train and retain qualified and skilled employees could impact our ability to execute strategies. Our success is dependent, in part, on our ability to recruit, develop and train qualified employees with the relevant education, background and experience. We must be able to retain such skilled employees through our efforts to develop, train, compensate and engage them. Failure to do so could impair our ability to execute our business strategies and could ultimately impact our performance. 20

Data Security, Privacy and Cybersecurity Risks Our business is increasingly subject to regulations relating to privacy and data protection, and if we violate any of those regulations, we could be subject to significant claims, penalties and damages. Increasingly, the United States, the European Union, Brazil and other governmental entities are imposing regulations designed to protect the collection, maintenance and transfer of personal information. For example, the European Union adopted the General Data Protection Regulation (the “GDPR”) that imposed stringent data protection requirements and greater penalties for non-compliance beginning in May 2018. The GDPR also protects a broader set of personal information than traditionally has been protected in the United States and provides for a right of “erasure.” Other regulations govern the collection and transfer of financial data and data security generally. These regulations generally impose penalties in the event of violations, and private lawsuits in the event of a release of personal information are common. While we attempt to comply with all applicable privacy regulations, their implementation is complex, and, if we are not successful, we may be subject to penalties and claims for damages from regulators and the impacted parties. Cybersecurity breaches and other disruptions to our information technology infrastructure could interfere with our operations and could compromise confidential information, exposing us to liability that could cause our business and reputation to suffer. We rely upon information technology networks and systems, some of which are managed by third parties, to process, transmit and store electronic information, and to manage or support a variety of business processes and activities, including supply chain, manufacturing, distribution, invoicing and collection of payments from dealers or other purchasers of our equipment. We also use information technology systems to record, process and summarize financial information and results of operations for internal reporting purposes and to comply with regulatory financial reporting, legal and tax requirements. Additionally, we collect and store sensitive data, including intellectual property and proprietary business information, in data centers and on information technology networks. The secure operation of these information technology networks and the processing and maintenance of this information is critical to our business operations and strategy. Despite security measures and business continuity plans, our information technology networks and infrastructure are vulnerable to damage, disruptions or shutdowns due to attacks by cyber criminals or breaches due to employee error or malfeasance or other disruptions during the process of upgrading or replacing computer software or hardware, power outages, computer viruses, telecommunication or utility failures, terrorist acts or, natural disasters or other catastrophic events. On May 5, 2022, we discovered that we had been subject to a ransomware cyberattack. The attack resulted in the temporary closure of most of our production sites and parts operations. A majority of the affected locations resumed operations within approximately two weeks after the attack was discovered. There was some data exfiltration as a result of the attack, and a portion of the exfiltrated data subsequently was released publicly. We do not have significant retail operations, and we do not believe that the exfiltrated data included privacy- protected consumer data or that the exfiltration was consequential. We have invested heavily in maturing our information technology and cybersecurity operations and continue to review and improve our safeguards to minimize our exposure to future attacks. The cost of remediation to the impacted systems has not been material. We maintain a cyber liability insurance program, although the coverage may not be sufficient in some circumstances. While we do not believe that the ultimate consequences of the attack were material to our performance, the occurrence of any similar or other events in the future could compromise our networks, and the information stored there could be accessed, publicly disclosed, lost or stolen. Any such access, disclosure or other loss of information could result in legal claims or proceedings, liability or regulatory penalties under laws protecting the privacy of personal information, and could disrupt our operations and damage our reputation, which could adversely affect our performance. In addition, as security threats continue to evolve and increase in frequency and sophistication, we increasingly need to invest additional resources to protect the security of our systems and likely will need to invest even more in the future. 21

Item 1B. Unresolved Staff Comments None. Item 1C. Cybersecurity Protecting the security of our information systems is of significant importance to us, and we are committed to our focus on cybersecurity and systemic risks. We have an enterprise risk assessment process which specifically addresses risks associated with cybersecurity. Additionally, we have a crisis management plan that outlines the structure, roles, responsibilities and operating procedures to utilize during potentially significant events that could negatively impact the Company. As part of the crisis management plan, we have a cybersecurity incident response plan in place that provides a documented framework for handling high severity security incidents and includes facilitated coordination across multiple functions of the Company. Our incident response plan also includes identifying and responding to material risks from cybersecurity threats associated with our use of third-party service providers. We invest in threat intelligence and are active participants in industry and government forums to strive to improve our overall capabilities with respect to cybersecurity. We routinely perform reviews of threat intelligence and vulnerability management capabilities, while performing simulations and drills at both technical and management levels. We incorporate external expertise in all aspects of our program utilizing industry practice guidance from third-party cybersecurity advisors to provide objective assessments of our capabilities. We maintain a cyber liability insurance program, although the coverage may not be sufficient in some circumstances. We also have policies and practices in place to address data privacy regulations. Our cybersecurity program is reviewed and assessed by external information security specialists or by our internal audit group at least annually. Further, we conduct annual cybersecurity awareness training for employees and targeted training for high-risk functions of the Company. We also conduct phishing exercises and correlated education with our employees. As part of its risk oversight role, our Audit Committee of the Board of Directors oversees cyber risk, information security and technology risk, including management’s actions to identify, assess, mitigate and remediate material cybersecurity issues and risks. The Audit Committee receives regular reporting several times each year from our Chief Information Security Officer as well as our Chief Digital Information Officer on our technology and cyber risk profile, enterprise cybersecurity program and key cybersecurity activities. We have an information security team, led by our Chief Information Security Officer, that is responsible for assessing and managing cybersecurity risks and monitoring cybersecurity incidents. The team possesses relevant experience in their respective fields as well, as appropriate certifications from various leading certifying bodies. Our formal cybersecurity program is modeled after the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework, as well as other global standards and best practices. On May 5, 2022, we discovered that we had been subject to a sophisticated ransomware cyberattack. The attack resulted in the temporary closure of most of our production sites and parts operations. A majority of the affected locations resumed operations within approximately two weeks after the attack was discovered. There was some data exfiltration as a result of the attack, and a portion of the exfiltrated data subsequently was released publicly. We do not have significant retail operations, and we do not believe that the exfiltrated data included privacy-protected consumer data or that the exfiltration was consequential. We have invested heavily in maturing our information technology and cybersecurity operations and continue to review and improve our safeguards to minimize our exposure to future attacks. The cost of remediation to the impacted systems has not been material. 22

Item 2. Properties Our principal manufacturing locations as of January 31, 2026 were as follows: Location North America: Beloit, Kansas ............................................................................................................................................................................... Hesston, Kansas ............................................................................................................................................................................ Jackson, Minnesota ....................................................................................................................................................................... Queretaro, Mexico South America: Canoas, Brazil ............................................................................................................................................................................... General Rodriguez, Argentina ...................................................................................................................................................... Ibiruba, Brazil ............................................................................................................................................................................... Mogi das Cruzes, Brazil ................................................................................................................................................................ Santa Rosa, Brazil ......................................................................................................................................................................... Europe/Middle East: Asbach-Bäumenheim, Germany ................................................................................................................................................... Beauvais, France(1) ........................................................................................................................................................................ Breganze, Italy .............................................................................................................................................................................. Feucht, Germany ........................................................................................................................................................................... Hohenmölsen, Germany ............................................................................................................................................................... Linnavuori, Finland ...................................................................................................................................................................... Marktoberdorf, Germany .............................................................................................................................................................. Suolahti, Finland ........................................................................................................................................................................... Wolfenbüttel, Germany ................................................................................................................................................................ Asia/Pacific/Africa Changzhou, China ......................................................................................................................................................................... Yanzhou, China ............................................................................................................................................................................ _______________________________________ (1) Includes our joint venture, GIMA, in which we own a 50% interest. We consider each of our facilities to be in good condition and adequate for its present use. We believe that we have sufficient capacity to meet our current and anticipated manufacturing requirements. Our corporate headquarters are located in Duluth, Georgia, and we have administrative offices in locations including Tremont, Illinois and Westminster, Colorado in North America, Budapest, Hungary, Neuhausen, Switzerland and Stoneleigh, United Kingdom in our Europe/Middle East region and Bengaluru, India in our Asia/Pacific/Africa region. We also own or operate other properties including parts facilities in Batavia, Illinois, Jundiai, Brazil and Ennery, France; and assembly, distribution, warehouses, sales offices, training and administration across the globe. 23

Item 3. Legal Proceedings During 2017, the Company purchased Precision Planting, which provides precision agricultural technology solutions. In 2018, Deere & Company (“Deere”) filed separate complaints in the U.S. District Court of Delaware against the Company and Precision Planting alleging that certain products of those entities infringed certain patents of Deere. The two complaints subsequently were consolidated into a single case, Case No. 1:18-cv-00827-CFC. In July 2022, the case was tried before a jury, which determined that the Company and Precision Planting had not infringed the Deere patents. Following customary post-trial procedures, the Court entered a judgment in the Company’s favor, and Deere appealed the judgment to the U.S. Court of Appeals for the Federal Circuit. On January 24, 2025, the Court ruled in favor of the Company and Precision Planting. Deere did not file for a writ of certiorari from the U.S. Supreme Court within the required time period, and, as a result, the District Court judgment is final. We are a party to various other legal claims and actions incidental to our business. We believe that none of these claims or actions, either individually or in the aggregate, is material to our business or financial statements as a whole, including our results of operations and financial condition. Item 4. Mine Safety Disclosures Not Applicable. 24

PART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Our common stock is listed on the New York Stock Exchange and trades under the symbol AGCO. We have a history of paying quarterly cash dividends. During 2025, the Company continued the practice of paying a quarterly dividend of $0.29 per common share. While we currently expect a cash dividend to be paid in the future, future dividend payments will depend on our earnings, capital requirements, financial condition and other factors considered relevant by the Company's Board of Directors. As of the close of business on February 9, 2026, the closing stock price was $133.56, and there were 435 stockholders of record (this number does not include stockholders who hold their stock through brokers, banks and other nominees). 25

Performance Graph The following presentation is a line graph of our cumulative total shareholder return on our common stock on an indexed basis as compared to the cumulative total return of the S&P Mid-Cap 400 Index, the MVIS Global Agribusiness Index for the five years ended December 31, 2025. Our total returns in the graph are not necessarily indicative of future performance. Cumulative Total Return for the Years Ended December 31, 2020 2021 2022 2023 2024 2025 AGCO Corporation ........................................................ $ 100.00 $ 116.13 $ 145.11 $ 133.67 $ 106.45 $ 120.10 S&P Midcap 400 Index .................................................. 100.00 124.76 108.47 126.29 143.89 154.68 MVIS Global Agribusiness Index .................................. 100.00 124.51 114.99 105.04 92.33 106.32 The total return assumes that dividends were reinvested and is based on a $100 investment on December 31, 2020. 26 $0 $50 $100 $150 $200 2020 2021 2022 2023 2024 2025 COMPARISON OF CUMULATIVE TOTAL RETURN AGCO Corporation S&P MidCap 400 Index MVIS Global Agribusiness Index (MVMOOTR)

Issuer Purchases of Equity Securities The table below sets forth information with respect to purchases of our common stock made by or on behalf of us during the three months ended December 31, 2025: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (in millions)(2) October 1, 2025 through October 31, 2025 ................................. — $ — — $ 1,035.0 November 1, 2025 through November 30, 2025(1) .......................... 1,997,204 100.14 1,997,204 785.0 December 1, 2025 through December 31, 2025 ............................. — — — 785.0 Total ....................................................... 1,997,204 $ 100.14 1,997,204 $ 785.0 ___________________________________ (1) In November 2025, we entered into accelerated share repurchase (“ASR”) agreements with two financial institutions to repurchase an aggregate of $250.0 million of shares of our common stock. The ASR agreements resulted in the initial delivery of approximately 1,997,204 shares of our common stock, representing approximately 80% of the shares to be purchased in connection with the transaction. In February 2026, the remaining 333,755 shares under the ASR agreements were delivered. The average price paid per share related to the ASR agreements reflected in the table above was derived using the fair market value of the shares on the date the initial 1,997,204 shares were delivered. The amount that may yet be purchased under our share repurchase programs, as presented in the above table, was reduced by the entire $250.0 million payment related to the ASR agreements. Refer to Note 16 of our Consolidated Financial Statements contained in Item 8, "Financial Statements and Supplementary Data," for further discussion of this matter. (2) The remaining authorized amount to be repurchased is $785.0 million, which has no expiration date. Item 6. [Reserved] 27

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations AGCO is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™. AGCO’s high-performance equipment and smart farming solutions, including brand-agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. We distribute most of our products through approximately 2,800 independent dealers and distributors in approximately 140 countries. We also provide retail and wholesale financing through our finance joint ventures with Coöperatieve Rabobank U.A., which, together with its affiliates, we refer to as “Rabobank.” In 2024, we fundamentally shifted our portfolio through the PTx Trimble joint venture and the divestiture of the majority of our Grain & Protein (“G&P”) business. Our operations are subject to the cyclical and seasonal nature of the agricultural industry. Sales of our equipment are affected by, among other things, changes in farm income, farm land values and debt levels, financing costs, acreage planted, crop yields, weather conditions, the demand for agricultural commodities, commodity and protein prices, agricultural product demand and general economic conditions and government policies, tariffs and subsidies. We sell our equipment, precision agriculture technology and replacement parts to our independent dealers, distributors and other customers. A large majority of our sales are to independent dealers and distributors that sell our products to end users. To the extent practicable, we attempt to sell products to our dealers and distributors on a level basis throughout the year to reduce the effect of seasonal demands on our manufacturing operations and to minimize our investment in inventories. However, retail sales by dealers to farmers are highly seasonal and are a function of the timing of the planting and harvesting seasons. In certain markets, particularly in North America, there is often a time lag, which varies based on the timing and level of retail demand, between our sale of the equipment to the dealer and the dealer’s sale to a retail customer. The recent announcements of significant trade policy and tariff actions by the U.S. government, including but not limited to tariffs on imported steel and aluminum products, tariffs on certain imports from China, tariffs on certain imports from Canada and Mexico, announced trade deal between the United States and European Union of baseline tariffs on certain imports from the European Union, and baseline tariffs on most imports from most other countries, continue to create significant uncertainty and potential risks for our business. These announcements in some cases were followed by delays and changes in implementation, and the ultimate tariff structures are unclear at the current time. Depending on the countries affected, increases in tariffs have raised the costs of inputs used in manufacturing our products, which in turn has impacted our cost of goods sold. Additionally, higher tariffs may lead to increased after-tariff sales prices for the products we sell. The impacts of the tariffs may be partially mitigated as a majority of our sales and manufacturing takes place outside the United States. While we are actively exploring opportunities to mitigate these increased costs, there can be no guarantee that we will be able to fully offset the impact of these tariffs. Furthermore, the imposition of retaliatory tariffs from other countries on our exported products could negatively affect our sales and marketplace access in those countries. Moreover, the uncertainty of the enforceability of the tariffs, any changes to such tariffs and any future trade policy changes has adversely impacted, and is expected to continue to adversely impact, our sales. 28

Financial Highlights The following table sets forth the percentage relationship to net sales of certain items included in our Consolidated Statements of Operations (in millions, except percentages): Years Ended December 31, 2025 2024 $ % of Net Sales(1) $ % of Net Sales(1) Net sales ................................................................. $ 10,082.0 100.0 % $ 11,661.9 100.0 % Cost of goods sold .................................................. 7,515.2 74.5 8,762.8 75.1 Gross profit ............................................................. 2,566.8 25.5 2,899.1 24.9 Selling, general and administrative expenses ...... 1,309.3 13.0 1,397.7 12.0 Engineering expenses ........................................... 487.7 4.8 493.0 4.2 Amortization of intangibles ................................. 71.1 0.7 81.0 0.7 Impairment charges .............................................. 10.0 0.1 369.5 3.2 Restructuring and business optimization expenses ............................................................... 82.2 0.8 172.7 1.5 Loss on sale of business ....................................... 10.8 0.1 507.3 4.4 Income (loss) from operations ................................ 595.7 5.9 (122.1) (1.0) Interest expense, net ............................................. 66.4 0.7 93.0 0.8 Other expense (income), net ................................ (72.7) (0.7) 218.5 1.9 Income (loss) before income taxes and equity in net earnings of affiliates ......................................... 602.0 6.0 (433.6) (3.7) Income tax provision (benefit) ............................. (77.4) (0.8) 98.4 0.8 Income (loss) before equity in net earnings of affiliates .................................................................. 679.4 6.7 (532.0) (4.6) Equity in net earnings of affiliates ....................... 39.6 0.4 46.4 0.4 Net income (loss) ................................................... 719.0 7.1 (485.6) (4.2) Net loss attributable to noncontrolling interests ..... 7.5 0.1 60.8 0.5 Net income (loss) attributable to AGCO Corporation ............................................................. $ 726.5 7.2 % $ (424.8) (3.6) % ___________________________________ (1) Rounding may impact summation of amounts. 29

2025 Compared to 2024 Net income (loss) attributable to AGCO Corporation for 2025 was $726.5 million, or $9.75 per diluted share, compared to $(424.8) million, or $(5.69) per diluted share, for 2024. Net sales for 2025 were $10,082.0 million, or 13.5% lower than 2024, primarily due to lower sales volumes resulting from softer industry sales reflecting lower end market demand and the divestiture of the majority of the Company's G&P business on November 1, 2024, partially offset by favorable currency impacts. Income (loss) from operations was $595.7 million in 2025 compared to $(122.1) million in 2024. During 2024, we recorded a loss on sale of business of $507.3 million related to the sale of the majority of the Company's G&P business and impairment charges of $369.5 million primarily related to the impairment of goodwill. Additionally, the increase in income from operations during 2025 was the result of decreases in restructuring and business optimization expenses and selling, general and administrative expenses (“SG&A expenses”) primarily related to lower compensation costs and transaction costs, partially offset by lower sales and production volumes reflecting weak industry conditions. We estimate that worldwide average price increases (decreases) were approximately 1.1% and (0.9)% in 2025 and 2024, respectively. Consolidated net sales of tractors and combines, which comprised approximately 68.8% of our net sales in 2025, decreased approximately 6.4% in 2025 compared to 2024. Unit sales of tractors and combines decreased approximately 5.6% during 2025 compared to 2024. The primary driver of the decrease in unit sales was due to changes in end market demand. The difference between the unit sales change and the change in net sales was primarily the result of sales mix changes and foreign currency translation. Overall, global production hours, excluding hours related to the Company's G&P business which was divested on November 1, 2024, decreased approximately 12.1% during 2025 compared to 2024, reflecting our response to lower end market demand. Results of Operations Gross profit as a percentage of net sales increased during 2025 compared to 2024, primarily due to lower manufacturing costs. Selling, general and administrative expenses (“SG&A expenses”) as a percentage of net sales, were higher during 2025 compared to 2024 as net sales decreased at a faster rate than SG&A expenses. The absolute level of SG&A expenses decreased during 2025 primarily due to lower compensation costs and lower transaction costs related to the divestiture of the majority of the Company's G&P business and the PTx Trimble joint venture transaction. We recorded stock compensation expense of $27.7 million and $17.9 million during 2025 and 2024, respectively, within SG&A expenses, as is more fully explained in Note 15 of our Consolidated Financial Statements. Engineering expenses as a percentage of net sales, were higher during 2025 compared to 2024 as net sales decreased at a faster rate than engineering expenses. The absolute level of engineering expenses remained relatively consistent during 2025. During 2025, we recorded impairment charges of $10.0 million, primarily related to the impairment of certain other assets. During 2024, we recorded impairment charges of $369.5 million, primarily related to the impairment of goodwill related to the Company’s PTx Trimble North America reporting unit, certain other assets and an investment in affiliate. We recorded restructuring and business optimization expenses of $82.2 million and $172.7 million during 2025 and 2024, respectively. On June 24, 2024, the Company announced a restructuring program (the “Program”) in response to increased weakening demand in the agriculture industry. The Company estimated that it would incur charges for one-time termination benefits of approximately $150.0 million to $200.0 million in connection with the initial phase of the Program, primarily consisting of cash charges related to severance payments, employees benefits and related costs. The Company incurred a substantial portion of the charges by the end of fiscal year 2025. The restructuring expenses recorded during 2025 and 2024 primarily related to severance, business optimization and other related costs associated with the Company's Program. Refer to Note 13 of our Consolidated Financial Statements for further information. We recorded a loss on sale of business of $10.8 million during 2025 related to the finalization of the preliminary working capital and other adjustments related to the sale of the majority of the Company's G&P business, partially offset by a gain related to an immaterial divestiture. During 2024, we recorded a loss on sale of business of $507.3 million related to the sale of the majority of the Company's G&P business. Refer to Note 3 of our Consolidated Financial Statements for further information. 30

Interest expense, net was $66.4 million for 2025 compared to $93.0 million for 2024, resulting primarily from a decrease in interest expense resulting from the Company's repayment of the Term Loan Facility on November 1, 2024, partially offset by lower interest income. Refer to “Liquidity and Capital Resources” for further information on our available funding. Other expense (income), net was $(72.7) million in 2025 compared to $218.5 million in 2024. During 2025, the Company recorded a gain of $251.9 million on the sale of an investment in affiliate related to the sale of the Company’s ownership interest in Tractors and Farm Equipment Limited (“TAFE”) within “Other expense (income), net.” Refer to Note 18 of the Consolidated Financial Statements for further information. In 2024, the Company terminated its U.S. qualified defined benefit plan and the settlement resulted in the recognition of approximately $18.5 million within “Other expense (income), net” representing the amounts previously recognized in “Accumulated other comprehensive loss.” Foreign currency exchange losses were approximately $81.9 million for 2025, compared to $85.1 million for 2024. Losses on sales of receivables, primarily related to our accounts receivable sales agreements with our finance joint ventures in North America, Europe and Brazil and included in “Other expense (income), net,” were approximately $90.3 million and $118.2 million, in 2025 and 2024, respectively. During 2024, the Company recorded the final business interruption insurance recovery related to the 2022 cyber attack of $5.0 million. We recorded an income tax provision (benefit) of $(77.4) million in 2025 compared to $98.4 million in 2024. Our tax provision and effective tax rate are impacted by the differing tax rates of the various tax jurisdictions in which we operate, permanent differences for items treated differently for financial accounting and income tax purposes, losses in jurisdictions where no income tax benefit is recorded and provisions for unrecognized income tax benefits related to uncertain tax positions. Our income tax provision as of December 31, 2025 includes a net federal tax benefit of $179.8 million related to a legal entity reorganization, which excludes approximately $82.0 million of additional benefits related to a change in the Company's permanent reinvestment assertion and state tax benefits associated with the reorganization. Based on a favorable tax ruling in Brazil regarding the taxability of certain state value added tax incentive benefits, the Company recorded a $29.6 million reduction in the provision for income taxes during the year ended December 31, 2024. Equity in net earnings of affiliates, which is primarily comprised of income from our AGCO Finance joint ventures, was $39.6 million in 2025 compared to $46.4 million in 2024. Refer to Note 10 of the Consolidated Financial Statements for further information. Net loss attributable to noncontrolling interests was $7.5 million in 2025 compared to $60.8 million in 2024. The net loss primarily relates to the noncontrolling interests of the PTx Trimble joint venture held by Trimble, which owns a 15% interest in the joint venture. Results of Operations - Segment Information The Company has four operating segments which are also its reportable segments which consist of the Europe/Middle East (“EME”), North America, South America and Asia/Pacific/Africa (“APA”) regions. The Company’s reportable segments are geography based and distribute a full range of agricultural machinery and precision agriculture technology. The Company evaluates segment performance primarily based on income from operations. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income (loss) from operations for one segment may not be comparable to another segment. 31

The following table sets forth, for the year ended December 31, 2025, the impact to net sales of currency translation by geographical segment (in millions, except percentages): Years Ended December 31, Change Change Due to Currency Translation 2025 2024 $ % $ % EME .................................................................... $ 6,736.7 $ 6,712.3 $ 24.4 0.4 % $ 313.6 4.7 % North America .................................................... 1,665.5 2,298.3 (632.8) (27.5) % (11.2) (0.5) % South America .................................................... 1,115.6 1,208.5 (92.9) (7.7) % (29.4) (2.4) % APA .................................................................... 564.2 626.3 (62.1) (9.9) % 0.6 0.1 % Total Segments 10,082.0 10,845.4 (763.4) (7.0) % 273.6 2.5 % Other(1) — 816.5 (816.5) (100.0) % — — % $ 10,082.0 $ 11,661.9 $ (1,579.9) (13.5) % $ 273.6 2.3 % ____________________________________ (1) “Other” represents the results for the year ended December 31, 2024 for the majority of the Company’s G&P business which was divested on November 1, 2024. The results of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments, respectively. EME Years Ended December 31, Change 2025 2024 $ Net sales ............................................................................................................................. $ 6,736.7 $ 6,712.3 $ 24.4 Income from operations ..................................................................................................... 1,006.8 961.3 45.5 Net sales in EME increased in 2025 compared to 2024, primarily due to favorable foreign currency translation, partially offset by sales volume declines, most significantly in high-horsepower tractors and combines. Income from operations increased by $45.5 million in 2025 compared to 2024 as a result of positive net pricing, partially offset by lower sales and production volumes and higher warranty costs. North America Years Ended December 31, Change 2025 2024 $ Net sales ............................................................................................................................. $ 1,665.5 $ 2,298.3 $ (632.8) Income (loss) from operations ............................................................................................ (112.0) 84.0 (196.0) Net sales in North America decreased in 2025 compared to 2024, primarily due to sales volume declines, most significantly in high-horsepower tractors, sprayers, hay tools and combines. Income (loss) from operations decreased by $196.0 million compared to 2024 as a result of lower sales and production volumes. South America Years Ended December 31, Change 2025 2024 $ Net sales ............................................................................................................................. $ 1,115.6 $ 1,208.5 $ (92.9) Income from operations ..................................................................................................... 51.4 87.0 (35.6) Net sales decreased in South America in 2025 compared to 2024, primarily due to sales volume declines, most significantly in tractors and implements, negative pricing impacts and unfavorable foreign currency translation. Income from 32

operations decreased $35.6 million in 2025 compared to 2024, as a result of lower sales and negative pricing impacts, partially offset by lower manufacturing costs. APA Years Ended December 31, Change 2025 2024 $ Net sales ............................................................................................................................. $ 564.2 $ 626.3 $ (62.1) Income from operations ..................................................................................................... 27.8 31.2 (3.4) Net sales decreased in APA in 2025 compared to 2024, primarily due to sales volume declines, most significantly in high-horsepower tractors, hay tools and sprayers. Income from operations decreased $3.4 million in 2025 compared to 2024, primarily due to lower sales and production volumes. 2024 Compared to 2023 A comparison of the results of operations for 2024 versus that of 2023 was included in our Annual Report on Form 10- K for the year ended December 31, 2024. Outlook Global industry demand for farm equipment, driven by farm income, is expected to be relatively flat during 2026 in most major markets compared to 2025. Our net sales are expected to modestly increase in 2026 compared to 2025, resulting from positive pricing, favorable currency translation and sales mix. Operating margins will reflect the impact of higher net sales, positive pricing, relatively flat production volumes and continued cost controls, partially offset by tariff headwinds. Our outlook is based on current assumptions regarding a number of factors including demand, currency stability, pricing and market share gains. If our assumptions are incorrect, or other issues arise or return, such as tariffs or a worsening of our supply chain, our results of operations will be adversely impacted. Refer to “Risk Factors” in Item 1A for further discussion. Liquidity and Capital Resources Our financing requirements are subject to variations due to seasonal changes in inventory and receivable levels. Internally generated funds are supplemented when necessary from external sources, primarily our credit facilities and accounts receivable sales agreement facilities. Additional information regarding our indebtedness is contained in Note 12 to the Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data.” We believe that the facilities and borrowings listed below, together with available cash and internally generated funds, and assuming customary renewals and replacements, will be sufficient to support our working capital, capital expenditures and debt service requirements for the foreseeable future (in millions): December 31, 2025(1) Credit Facility, expires 2027 ......................................................................................................................... $ — 5.450% Senior notes due 2027 ..................................................................................................................... 400.0 5.800% Senior notes due 2034 ..................................................................................................................... 700.0 0.800% Senior notes due 2028 ..................................................................................................................... 703.8 EIB Senior term loan due 2029 .................................................................................................................... 293.3 EIB Senior term loan due 2030 .................................................................................................................... 199.4 Senior term loans due between 2025 and 2028 ............................................................................................ 97.9 ____________________________________ (1) The amounts above are gross of debt issuance costs of an aggregate amount of approximately $9.7 million. 33

The Company has a credit facility providing for a $1.25 billion multi-currency unsecured revolving credit facility (“Credit Facility”) that matures on December 19, 2027. In May 2025, the Company amended the Credit Facility with respect to the net leverage ratio financial covenant requirements for the remainder of 2025 and in the event of a future material acquisition. As of December 31, 2025, the Company had no outstanding borrowings under the revolving credit facility and had the ability to borrow $1,250.0 million. In addition, the Company has an uncommitted revolving credit facility that allows the Company to borrow up to €200.0 million (or approximately $234.6 million as of December 31, 2025). The credit facility expires on December 31, 2026. As of December 31, 2025, the Company had no outstanding borrowings under the revolving credit facility. The Company had redeemable noncontrolling interests of $299.2 million as of December 31, 2025 resulting from the PTx Trimble joint venture transaction, which may require the use of cash in certain instances, beginning in 2027. Refer to Note 2 of the Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for further information. The Company is in compliance with the financial covenants contained in these facilities and expects to continue to maintain such compliance. Should we ever encounter difficulties, our historical relationship with our lenders has been strong, and we anticipate their continued long-term support of our business. Refer to Note 12 of the Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for additional information regarding our current facilities, including the financial covenants contained in each debt instrument. Our debt to capitalization ratio, which is total indebtedness divided by the sum of total indebtedness, excluding short- term borrowings due within one year, and stockholders’ equity, was 35.8% and 40.6% at December 31, 2025 and 2024, respectively. Supplemental Guarantor Financial Information On March 21, 2024, the Company issued (i) $400.0 million aggregate principal amount of 5.450% Senior Notes due 2027 (the “2027 Notes”) and (ii) $700.0 million aggregate principal amount of 5.800% Senior Notes due 2034 (the “2034 Notes”, and together with the 2027 Notes, the “Notes”). The 2027 Notes and the 2034 Notes are unsecured and unsubordinated indebtedness of the Company and are guaranteed on a senior unsecured basis, jointly and severally, by AGCO International Holdings B.V., AGCO International GmbH and Massey Ferguson Corp., direct and indirect subsidiaries of the Company (collectively, the “Guarantors”). Refer to Note 12 of the Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for further discussion of these debt obligations. The following tables present summarized financial information of AGCO Corporation, as the issuer of the 2027 Notes and the 2034 Notes, and the Guarantors on a combined basis after elimination of intercompany transactions and balances within the Guarantors and equity in the earnings from and investments in any non-guarantor subsidiary. As used herein, “obligor group” means AGCO Corporation, as the issuer of the debt securities, and the Guarantors on a combined basis. The summarized financial information is provided in accordance with the reporting requirements of Rule 13-01 under SEC Regulation S-X for the obligor group and is not intended to present the financial position or results of operations of the obligor group in accordance with generally accepted accounting principles as such principles are in effect in the United States. Balance Sheet Information (in millions) As of December 31, 2025 Current assets(a) ........................................................................................................................................... $ 4,771.1 Noncurrent assets(b) ..................................................................................................................................... 1,575.9 Current liabilities(c) ...................................................................................................................................... 4,155.6 Noncurrent liabilities(d) ................................................................................................................................ 4,192.5 ____________________________________ (a) Includes amounts due from non-guarantor subsidiaries of $2,628.9 million as of December 31, 2025. (b) Includes amounts due from non-guarantor subsidiaries of $108.2 million as of December 31, 2025. (c) Includes amounts due to non-guarantor subsidiaries of $2,557.6 million as of December 31, 2025. (d) Includes amounts due to non-guarantor subsidiaries of $1,556.0 million as of December 31, 2025. 34

Statement of Operations Information (in millions) Year Ended December 31, 2025 Revenues(a) .................................................................................................................................................... $ 7,333.3 Income from operations ............................................................................................................................... 388.0 Net income ................................................................................................................................................... 187.2 Net income attributable to obligor group ..................................................................................................... 187.2 ____________________________________ (a) Includes intercompany revenues generated from non-guarantor subsidiaries of $5,044.5 million. The following tables present summarized financial information of AGCO International GmbH, after elimination of intercompany transactions and balances within the Guarantors and equity in the earnings from and investments in any non- guarantor subsidiary. Balance Sheet Information (in millions) As of December 31, 2025 Current assets(a) ........................................................................................................................................... $ 3,661.3 Noncurrent assets(b) ..................................................................................................................................... 371.8 Current liabilities(c) ...................................................................................................................................... 3,281.7 Noncurrent liabilities(d) ................................................................................................................................ 1,619.0 ____________________________________ (a) Includes amounts due from non-guarantor subsidiaries of $2,329.1 million as of December 31, 2025. (b) Includes amounts due from non-guarantor subsidiaries of $102.6 million as of December 31, 2025. (c) Includes amounts due to non-guarantor subsidiaries of $2,368.1 million as of December 31, 2025. (d) Includes amounts due to non-guarantor subsidiaries of $1,556.0 million as of December 31, 2025. Statement of Operations Information (in millions) Year Ended December 31, 2025 Revenues(a) .................................................................................................................................................... $ 6,068.4 Income from operations ............................................................................................................................... 736.7 Net income .................................................................................................................................................. 298.9 Net income attributable to obligor group ..................................................................................................... 298.9 ____________________________________ (a) Includes intercompany revenues generated from non-guarantor subsidiaries of $4,752.1 million. Our accounts receivable sales agreements in North America, Europe and Brazil permit the sale, on an ongoing basis, of a majority of our receivables to our U.S., Canadian, European and Brazilian finance joint ventures. The sales of all receivables are without recourse to us. We do not service the receivables after the sales occur, and we do not maintain any direct retained interest in the receivables. These agreements are accounted for as off-balance sheet transactions. The cash received from receivables sold under these accounts receivable sales agreements that remains outstanding as of December 31, 2025 and 2024 was approximately $2.1 billion and $2.3 billion, respectively. In addition, we sell certain trade receivables under factoring arrangements to other financial institutions around the world. The cash received from trade receivables sold under factoring arrangements that remain outstanding as of December 31, 2025 and 2024 was approximately $270.5 million and $220.5 million, respectively. In order to efficiently manage our liquidity, we generally pay vendors in accordance with negotiated terms. To enable vendors to obtain payment in advance of our payment due dates to them, we have established programs in certain markets with financial institutions under which the vendors have the option to be paid by the financial institutions earlier than the payment due dates. Should we not be able to negotiate extended payment terms with our vendors, or should financial institutions no 35

longer be willing to participate in early payment programs with us, we would expect to have sufficient liquidity to timely pay our vendors without any material impact on us or our financial position. As of December 31, 2025 and 2024, the amount outstanding that remains unpaid to the banks or other intermediaries associated with these programs totaled approximately $31.7 million and $50.6 million, respectively. Refer to Note 11 of the Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for further discussion. Cash Flows Cash flows provided by operating activities were approximately $988.1 million during 2025 compared to approximately $689.9 million during 2024. The increase during 2025 compared to 2024 was driven by changes in working capital. Our working capital requirements are seasonal, with investments in working capital typically building in the first half of the year and then reducing in the second half of the year. We had approximately $1,467.0 million in working capital at December 31, 2025, as compared with $1,312.0 million at December 31, 2024. Inventories as of December 31, 2025 were approximately $2,709.3 million as compared to $2,731.3 million as of December 31, 2024. Accounts and notes receivable, net at December 31, 2025 were approximately $188.0 million lower than at December 31, 2024, primarily due to timing of sales of accounts receivable under our factoring arrangements. Accounts payable and Accrued expenses as of December 31, 2025 were approximately $207.1 million higher than at December 31, 2024. Capital expenditures for 2025 were approximately $247.9 million compared to $393.3 million for the same period in 2024. Share Repurchase Program and Dividends On July 9, 2025, the Company's Board of Directors authorized a new share repurchase program authorizing the Company to repurchase up to $1.0 billion of the Company's common stock, which has no expiration date. In November 2025, the Company entered into accelerated share repurchase (“ASR”) agreements with two financial institutions to repurchase an aggregate of $250.0 million of shares of its common stock. The Company received approximately 1,997,204 shares associated with these transactions as of December 31, 2025. In February 2026, the Company received an additional 333,755 shares upon final settlement of its November 2025 ASR agreements. In November 2024, the Company entered into an ASR agreement with a financial institution to repurchase $22.0 million of shares of its common stock. The Company received approximately 228,969 shares associated with the completion of this transaction as of December 31, 2024. In November 2023, the Company entered into an ASR agreement with a financial institution to repurchase $53.0 million of shares of its common stock. The Company received approximately 371,669 shares associated with this transaction as of December 31, 2023. In January 2024, the Company received an additional 82,883 shares upon final settlement of its November 2023 ASR agreement. All shares received under the ASR agreements were retired upon receipt, and the excess of the purchase price over par value per share was recorded to a combination of “Additional paid-in capital” and “Retained earnings” within our Consolidated Balance Sheets. As of December 31, 2025, the remaining amount authorized to be repurchased under board-approved share repurchase authorizations was approximately $785.0 million, which has no expiration date. During the years ended December 31, 2025 and 2024, the Company declared and paid cash dividends of $1.16 and $3.66 per common share, respectively. The Company paid a special variable dividend of $2.50 per common share that was paid during the second quarter of 2024. On January 15, 2026, the Company's Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on March 16, 2026, to all stockholders of record as of the close of business on February 13, 2026. Contractual Obligations and Cash Requirements Our material cash requirements include the following contractual and other obligations: Indebtedness – As of December 31, 2025, we had approximately $117.7 million of principal payments due within the year ending December 31, 2026 related to indebtedness and certain short-term obligations. In addition, future interest payments of approximately $116.6 million are payable within the next twelve months. Indebtedness amounts reflect the principal amount of our EIB senior term loans, senior notes, credit facility and certain short-term borrowings, gross of any debt issuance costs. Our projected amount of interest payments includes assumptions regarding the future fluctuations in interest rates, as well as borrowings under our revolving credit facility and other variable debt instruments. The amounts provided relate only to existing debt obligations and do not assume the refinancing or replacement of such debt. Refer to the discussion above and Note 12 of the Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for additional information regarding our indebtedness. 36

Finance and operating lease obligations – As of December 31, 2025, we had approximately $0.6 million and $55.5 million of payments due during the year ending December 31, 2026, related to finance and operating lease obligations, respectively. Refer to Note 23 of the Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for additional information regarding our lease obligations. Unconditional purchase obligations – As of December 31, 2025, we had approximately $161.6 million of outstanding purchase obligations payable during the year ending December 31, 2026. The Company's unconditional purchase obligations are primarily payable within 12 months. Uncertain tax positions – As of December 31, 2025, we had approximately $3.8 million of income tax liabilities related to uncertain income tax provisions connected with ongoing income tax audits in various jurisdictions that we expect to pay or settle within the next 12 months. These liabilities and related income tax audits are subject to statutory expiration. Refer to Note 19 of the Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for additional information regarding our uncertain tax positions. Pensions - It is our objective to contribute to the pension plans to ensure adequate funds are available in the plans to make benefit payments to plan participants and beneficiaries when required. We currently expect that we will contribute approximately $2.4 million under our non-U.S. defined benefit pension and postretirement plans during the year ending December 31, 2026. The timing and amounts of future contributions are dependent upon the funding status of the plans, which is expected to vary as a result of changes in interest rates, returns on underlying assets, and other factors. Refer to Note 20 of the Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for additional information regarding our pension and postretirement plans. These obligations comprise a majority of our other short-term and long-term obligations. Commitments and Off-Balance Sheet Arrangements Guarantees At December 31, 2025, the Company had outstanding guarantees issued to its Argentine finance joint venture, AGCO Capital Argentina S.A. (“AGCO Capital”) of approximately $82.6 million. Such guarantees generally obligate the Company to repay outstanding finance obligations owed to AGCO Capital if end users default on such loans to the extent that, due to non- credit risk, the end users are not able, or not required, to pay their loans, or are required to pay in a different currency than the one agreed in their loan. The Company also has obligations to guarantee indebtedness owed to certain of its finance joint ventures if dealers or end users default on loans. Losses under such guarantees historically have been insignificant. The Company believes the credit risk associated with these guarantees is not material. In addition, at December 31, 2025, the Company accrued approximately $11.6 million of outstanding guarantees of residual values that may be owed to its finance joint ventures in the United States and Canada upon expiration of certain eligible operating leases between the finance joint ventures and end users. The maximum potential amount of future payments under the guarantees is approximately $224.1 million. Other We sell certain accounts receivable under factoring arrangements to our finance joint ventures and to financial institutions around the world. We account for the sale of such receivables as off-balance sheet transactions. Our finance joint ventures in Europe, Brazil and Australia also provide wholesale financing directly to our dealers. As of December 31, 2025 and 2024, these finance joint ventures had approximately $107.5 million and $139.2 million, respectively, of outstanding accounts receivable associated with these arrangements. The total finance portfolio in our finance joint ventures was approximately $15.1 billion and $14.5 billion as of December 31, 2025 and 2024, respectively. The total finance portfolio as of December 31, 2025 and 2024 included approximately $12.7 billion and $11.3 billion, respectively, of retail receivables and $2.4 billion and $3.2 billion, respectively, of wholesale receivables from AGCO dealers. Contingencies During 2017, the Company purchased Precision Planting, which provides precision agricultural technology solutions. In 2018, Deere & Company (“Deere”) filed separate complaints in the U.S. District Court of Delaware against the Company and Precision Planting alleging that certain products of those entities infringed certain patents of Deere. The two complaints subsequently were consolidated into a single case, Case No. 1:18-cv-00827-CFC. In July 2022, the case was tried before a jury, 37

which determined that the Company and Precision Planting had not infringed the Deere patents. Following customary post-trial procedures, the Court entered a judgment in the Company’s favor, and Deere appealed the judgment to the U.S. Court of Appeals for the Federal Circuit. On January 24, 2025, the Court ruled in favor of the Company and Precision Planting. Deere did not file for a writ of certiorari from the U.S. Supreme Court within the required time period, and, as a result, the District Court judgment is final. We are party to various claims and lawsuits arising in the normal course of business. We closely monitor these claims and lawsuits and frequently consult with our legal counsel to determine whether they may, when resolved, have a material adverse effect on our financial position or results of operations and accrue and/or disclose loss contingencies as appropriate. Refer to Note 22 of our Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for further information. Related Party Transactions In the ordinary course of business, we engage in transactions with related parties. Refer to Note 18 of our Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for information regarding related party transactions and their impact to our consolidated results of operations and financial position. Foreign Currency Risk Management We have significant manufacturing locations in the United States, France, Germany, Finland, Italy, China and Brazil, and we purchase a portion of our tractors, other machinery and components from third-party foreign suppliers, primarily in various European countries and in Japan. We also sell products in approximately 140 countries throughout the world. The majority of our net sales outside the United States are denominated in the currency of the customer location, with the exception of sales in the Middle East, Africa, Asia and parts of South America, where net sales are primarily denominated in British pounds, Euros or the United States dollar. The Company has a wholly-owned subsidiary in Turkey that distributes agricultural equipment and replacement parts. On the basis of available data related to inflation indices and as a result of the devaluation of the Turkish lira relative to the United States dollar, the Turkish economy was determined to be highly inflationary during 2022. A highly inflationary economy is one where the cumulative inflation rate for the three years preceding the beginning of the reporting period, including interim reporting periods, is in excess of 100 percent. For subsidiaries operating in highly inflationary economies, the United States dollar is the functional currency. Remeasurement adjustments for financial statements in highly inflationary economies and other transactional exchange gains and losses are reported in “Other expense (income), net” within our Consolidated Statements of Operations. For the year ended and as of December 31, 2025, the Company's wholly-owned subsidiary in Turkey had net sales of approximately $262.9 million and total assets of approximately 6.0 billion Turkish lira (or approximately $139.6 million). The monetary assets and liabilities denominated in the Turkish lira were approximately 4.9 billion Turkish lira (or approximately $114.5 million) and approximately 2.7 billion Turkish lira (or approximately $62.6 million), respectively, as of December 31, 2025. The monetary assets and liabilities were remeasured into United States dollars based on exchange rates as of December 31, 2025. We also are subject to the risk of the imposition of limitations by governments on international transfers of funds. The Company has a wholly-owned subsidiary in Argentina that assembles and distributes agricultural equipment and replacement parts. In recent years, the Argentine government has substantially limited the ability of companies to transfer funds out of Argentina. Argentina's economy was determined to be highly inflationary during 2018. In December 2023, the central bank of Argentina adjusted the official foreign currency exchange rate for the Argentine peso, significantly devaluing the currency relative to the United States dollar. The December 2023 impact of the devaluation and remeasurement of net monetary assets was approximately $79.9 million. For the year ended and as of December 31, 2025, the Company's wholly-owned subsidiary in Argentina had net sales of approximately $188.4 million and total assets of approximately 313.3 billion pesos (or approximately $216.2 million). The monetary assets of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 85.0 billion pesos (or approximately $58.7 million), inclusive of approximately 16.5 billion pesos (or approximately $11.4 million) in cash and cash equivalents, as of December 31, 2025. The monetary liabilities of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 63.4 billion pesos (or approximately $43.8 million) as of December 31, 2025. The monetary assets and liabilities were remeasured into United States dollars based on exchange rates as of December 31, 2025. The Company's finance joint venture in Argentina, AGCO Capital, has net monetary assets denominated in pesos at the official government rate of approximately 4.3 billion pesos (or approximately $3.0 million) as of December 31, 2025. All gains and losses resulting from AGCO Capital's remeasurement of its monetary asset and liabilities are reported in “Equity in net earnings of affiliates” within the Company's 38

Consolidated Statements of Operations. If limitations on transfer of funds remain, we may be subject to future losses on the net monetary assets described above. We manage our transactional foreign currency exposure by hedging foreign currency cash flow forecasts and commitments arising from the anticipated settlement of receivables and payables and from future purchases and sales. Where naturally offsetting currency positions do not occur, we hedge certain, but not all, of our exposures through the use of foreign currency contracts. Our translation exposure resulting from translating the financial statements of foreign subsidiaries into United States dollars may be partially hedged from time to time. When practical, this translation impact is reduced by financing local operations with local borrowings. Our hedging policy prohibits use of foreign currency contracts for speculative trading purposes. The total notional value of our foreign currency instruments was $3,676.5 million and $4,187.9 million, including $600.0 million and $600.0 million related to net investment hedges, as of December 31, 2025 and 2024, respectively, inclusive of both those instruments that are designated and qualified for hedge accounting and non-designated derivative instruments. We enter into cash flow hedges to minimize the variability in cash flows of assets or liabilities or forecasted transactions caused by fluctuations in foreign currency exchange rates, and we enter into foreign currency contracts to economically hedge receivables and payables on our balance sheets that are denominated in foreign currencies other than the functional currency. In addition, we use derivative and non-derivative instruments to hedge a portion of our net investment in foreign operations against adverse movements in exchange rates. Refer to Note 14 of our Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for further information about our hedging transactions and derivative instruments. Assuming a 10% change relative to the currency of the hedge contracts, the fair value of the foreign currency instruments could be negatively impacted by approximately $25.6 million as of December 31, 2025. Due to the fact that these instruments are primarily entered into for hedging purposes, the gains or losses on the contracts would largely be offset by losses and gains on the underlying firm commitment or forecasted transaction. The gains and losses on the Company’s net investment in the designated foreign operations driven by changes in foreign exchange rates would largely be offset by movements in the fair value of the cross currency swap contracts or foreign currency denominated debt. Interest Rate Risk Our interest expense is, in part, sensitive to the general level of interest rates. We manage our exposure to interest rate risk through our mix of floating rate and fixed rate debt. From time to time, we enter into interest rate swap agreements to manage our exposure to interest rate fluctuations. Refer to Note 12 and Note 14 of our Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for additional information. Based on our floating rate debt and our accounts receivable sales facilities outstanding at December 31, 2025, a 10% increase in interest rates would have increased collectively, “Interest expense, net” and “Other expense (income), net” for the year ended December 31, 2025, by approximately $7.8 million. Recent Accounting Pronouncements Refer to Note 1 of our Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data,” for information regarding recent accounting pronouncements and their impact to our consolidated results of operations and financial position. 39

Critical Accounting Estimates We prepare our Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles. In the preparation of these financial statements, we make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The significant accounting policies followed in the preparation of the financial statements are detailed in Note 1 of our Consolidated Financial Statements contained in Item 8, “Financial Statements and Supplementary Data.” We believe that our application of the policies discussed below involves significant levels of judgment, estimates and complexity. Due to the levels of judgment, complexity and period of time over which many of these items are resolved, actual results could differ from those estimated at the time of preparation of the financial statements. Adjustments to these estimates would impact our financial position and future results of operations. Discount and Sales Incentive Allowances We provide various volume bonus and sales incentive programs with respect to our products. These sales incentive programs include reductions in invoice prices, reductions in retail financing rates, dealer commissions and dealer incentive allowances. In most cases, incentive programs are established and communicated to our dealers on a quarterly basis. The incentives are paid either at the time of the cash settlement of the receivable (which is generally at the time of retail sale), at the time of retail financing, at the time of warranty registration, or at a subsequent time based on dealer purchase volumes. The incentive programs are product line specific and generally do not vary by dealer. The cost of sales incentives associated with dealer commissions and dealer incentive allowances is estimated based upon the terms of the programs and historical experience, is based on a percentage of the sales price, and estimates for sales incentives are made and recorded at the time of sale for expected incentive programs using the expected value method. These estimates are reassessed each reporting period and are revised in the event of subsequent modifications to incentive programs, as they are communicated to dealers. The related provisions and accruals are made on a product or product-line basis and are monitored for adequacy and revised at least quarterly in the event of subsequent modifications to the programs. Interest rate subsidy payments, which are a reduction in retail financing rates, are recorded in the same manner as dealer commissions and dealer incentive allowances. Volume discounts are estimated and recognized based on historical experience, and related reserves are monitored and adjusted based on actual dealer purchase volumes and the dealers’ progress towards achieving specified cumulative target levels. Estimates of these incentives are based on the terms of the programs and historical experience. All incentive programs are recorded and presented as a reduction of revenue, due to the fact that we do not receive a distinct good or service in exchange for the consideration provided. In the United States and Canada, reserves for incentive programs related to accounts receivable not sold to our U.S. and Canadian finance joint ventures are recorded as “Accounts receivable allowances” within our Consolidated Balance Sheets due to the fact that the incentives are paid through a reduction of future cash settlement of the receivable. Globally, reserves for incentive programs that will be paid in cash or credit memos, as is the case with most of our volume discount programs, as well as sales incentives associated with accounts receivable sold to our finance joint ventures, are recorded within “Accrued expenses” within our Consolidated Balance Sheets. At December 31, 2025 and 2024, we had recorded an allowance for discounts and sales incentives of approximately $951.8 million and $1,018.8 million, respectively, that will be paid either through a reduction of future cash settlements of receivables and through credit memos to our dealers or through reductions in retail financing rates paid to our finance joint ventures. If we were to allow an additional 1% of sales incentives and discounts at the time of retail sale for those sales subject to such discount programs, our reserve would increase by approximately $33.1 million as of December 31, 2025. Conversely, if we were to decrease our sales incentives and discounts by 1% at the time of retail sale, our reserve would decrease by approximately $33.1 million as of December 31, 2025. Deferred Income Taxes and Uncertain Income Tax Positions We recorded an income tax provision (benefit) of $(77.4) million in 2025 compared to $98.4 million in 2024 and $230.4 million in 2023. Our tax provision and effective tax rate are impacted by the differing tax rates of the various tax jurisdictions in which we operate, permanent differences for items treated differently for financial accounting and income tax purposes, losses in jurisdictions where no income tax benefit is recorded and provisions for unrecognized income tax benefits related to uncertain tax positions. The provision for income taxes involves a significant amount of management judgment regarding interpretation of relevant facts and laws in the jurisdictions in which we operate. Future changes in applicable laws, projected levels of taxable income, and tax planning could change the effective tax rate and tax balances recorded by us. In addition, tax authorities periodically review income tax returns filed by us and can raise issues regarding our filing positions, timing and amount of income or deductions, and the allocation of income among the jurisdictions in which we 40

operate. A significant period of time may elapse between the filing of an income tax return and the ultimate resolution of an issue raised by a revenue authority with respect to that return. We believe that we have adequately provided for any reasonably foreseeable resolution of these matters. At December 31, 2025 and 2024, we had gross deferred tax assets of $962.0 million and $651.5 million, respectively, including $112.2 million and $30.3 million, respectively, related to net operating loss carryforwards. We maintain a valuation allowance to reserve a portion of our net deferred tax assets in the U.S. and certain foreign jurisdictions. A valuation allowance is established when it is more likely than not that some portion or all of the deferred tax assets may not be realized. At December 31, 2025 and 2024, we had total valuation allowances as an offset to our gross deferred tax assets of $179.5 million and $147.2 million, respectively. These valuation allowances are held against deferred tax assets (including net operating loss carryforwards and certain other tax attributes) in the U.S. and certain foreign jurisdictions. Realization of the remaining deferred tax assets as of December 31, 2025 depends on generating sufficient taxable income in future periods, net of reversing deferred tax liabilities. We believe it is more likely than not that the remaining net deferred tax assets should be able to be realized. We recognize income tax benefits from uncertain tax positions only when there is a more than 50% likelihood that the tax positions will be sustained upon examination by the taxing authorities based on the technical merits of the positions. As of December 31, 2025 and 2024, we had approximately $469.9 million and $387.4 million, respectively, of gross unrecognized tax benefits, all of which would impact our effective tax rate if recognized. As of December 31, 2025 and 2024, we had approximately $3.8 million and $9.3 million, respectively, of current accrued taxes related to uncertain income tax positions connected with ongoing tax audits in various jurisdictions that we expect to settle or pay in the next 12 months. At December 31, 2025 and 2024, the Company had approximately $465.8 million and $378.4 million, respectively, of accrued taxes reflected in “Other noncurrent liabilities” in the Company’s Consolidated Balance Sheets. We recognize interest and penalties related to uncertain income tax positions in income tax expense. As of December 31, 2025 and 2024, we had accrued interest and penalties related to unrecognized tax benefits of approximately $34.7 million and $30.9 million, respectively. Refer to Note 19 of our Consolidated Financial Statements for further discussion of our uncertain income tax positions. Pensions We sponsor qualified defined benefit pension plans covering certain employees, principally in the United Kingdom, Germany, Switzerland, Finland, France, Norway and Argentina. In the United States, we maintain an unfunded, nonqualified defined benefit pension plan for certain senior executives, which is our Executive Nonqualified Pension Plan (“ENPP”). The ENPP is closed to new entrants and, as of December 31, 2024, future benefit accruals were frozen. The Company merged its U.S. qualified defined benefit pension plans for hourly and salaried employees into one plan (the “Plan”) on December 31, 2023 and finalized the termination of the Plan in 2024. In connection with the termination process, the Company offered a lump sum benefit payout option to Plan participants, and the remaining assets of the Plan were used to purchase a group annuity contract that transferred the remaining plan liabilities to an insurance carrier. The termination process was finalized by December 31, 2024 and the settlement resulted in the recognition of approximately $18.5 million within “Other expense (income), net” within the Company's Consolidated Statements of Operations. In the United Kingdom, we sponsor a funded defined benefit pension plan that provides an annuity benefit based on participants’ final average earnings and service. Participation in this plan is limited to certain older, longer service employees and existing retirees. This plan is closed to new participants. Refer to Note 20 of our Consolidated Financial Statements for additional information regarding costs and assumptions for employee retirement benefits. Nature of Estimates Required. The measurement date for all of our benefit plans is December 31. The measurement of our pension obligations, costs and liabilities is dependent on a variety of assumptions provided by management and used by our actuaries. These assumptions include estimates of the present value of projected future pension payments to all plan participants, taking into consideration the likelihood of potential future events such as salary increases and demographic experience. These assumptions may have an effect on the amount and timing of future contributions. 41

Assumptions and Approach Used. The assumptions used in developing the required estimates include, but are not limited to, the following key factors: • Discount rates • Inflation • Salary growth • Expected return on plan assets • Retirement rates and ages • Mortality rates For the years ended December 31, 2025 and 2024, we used a globally consistent methodology to set the discount rate in the countries where our largest benefit obligations exist. In the United States, the United Kingdom and the Euro Zone, we constructed a hypothetical bond portfolio of high-quality corporate bonds and then applied the cash flows of our benefit plans to those bond yields to derive a discount rate. The bond portfolio and plan-specific cash flows vary by country, but the methodology in which the portfolio is constructed is consistent. The other key assumptions and methods were set as follows: • The inflation assumption is based on an evaluation of external market indicators. • The salary growth assumptions reflect our long-term actual experience, the near-term outlook and assumed inflation. • The expected return on plan asset assumptions reflects asset allocations, investment strategy, historical experience and the views of investment managers, and reflects a projection of the expected arithmetic returns over ten years. • Determination of retirement rates and ages as well as termination rates, based on actual plan experience, actuarial standards of practice and the manner in which our defined benefit plans are being administered. • The mortality rates for the U.K. defined benefit pension plan were updated during 2024 to reflect the latest expected improvements in the life expectancy of the plan participants. The mortality rates for the U.S. ENPP were unchanged from 2021, which reflected the Society of Actuaries’ most recent findings on the topic of mortality. • The fair value of assets used to determine the expected return on assets does not reflect any delayed recognition of asset gains and losses. The effects of actual results differing from our assumptions are accumulated and amortized over future periods and, therefore, generally affect our recognized expense in such periods. Our U.S. ENPP and U.K. defined benefit pension plans comprise approximately 83.1% of our consolidated projected benefit obligation as of December 31, 2025. The effects of a 25 basis point change in certain actuarial assumptions on the 2025 net annual pension and ENPP costs and related benefit obligations as of December 31, 2025 would be as follows: Year-end Benefit Obligation 2025 Net Annual Pension Cost 25 basis point increase 25 basis point decrease 25 basis point increase 25 basis point decrease Discount rate: U.S. ENPP ......................................................................... $ (2.0) $ 2.1 $ 0.1 $ (0.1) U.K. defined benefit pension plans .................................... (9.4) 9.7 (0.1) 0.1 2025 Net Annual Pension Cost 25 basis point increase 25 basis point decrease Long-term rate of return on plan assets: U.S. ENPP(1) ................................................................................................................................ $ — $ — U.K. defined benefit pension plans ............................................................................................. (1.2) 1.2 ___________________________________ (1) The U.S. ENPP is an unfunded plan. Unrecognized actuarial net losses related to our defined benefit pension plans and ENPP were $260.4 million as of December 31, 2025 compared to $256.7 million as of December 31, 2024. The increase in unrecognized net actuarial losses between years is primarily due to the termination of the U.S. qualified defined benefit plan in the prior year, as well as the total 42

net impact of the changes in the assumptions, specifically the decrease in the discount rate. The unrecognized net actuarial losses will be impacted in future periods by actual asset returns, discount rate changes, currency exchange rate fluctuations, actual demographic experience and certain other factors. For some of our defined benefit pension plans, these losses, to the extent they exceed 10% of the greater of the plan’s liabilities or the fair value of assets (“the gain/loss corridor”), will be amortized on a straight-line basis over the periods discussed as follows. For our U.K. defined benefit pension plan, the population covered is predominantly inactive participants, and losses related to those plans, to the extent they exceed the gain/ loss corridor, will be amortized over the average remaining lives of those participants while covered by the respective plan. For our ENPP, the population is predominantly active participants, and losses related to the plan will be amortized over the average future working lifetime of the active participants expected to receive benefits. As of December 31, 2025, the average amortization periods were as follows: ENPP U.K. Plan Average amortization period of losses related to defined benefit pension plans ..................... 6.5 years 16.3 years Unrecognized prior service cost related to our defined benefit pension plans was $28.3 million as of December 31, 2025 compared to $29.8 million as of December 31, 2024. As of December 31, 2025, our unfunded or underfunded obligations related to our defined benefit pension plans and ENPP were approximately $61.9 million, primarily related to our defined benefit pension plans in Europe. In 2025, we contributed approximately $14.8 million towards those obligations, and we expect to fund approximately $14.8 million in 2026. Future funding is dependent upon compliance with local laws and regulations and changes to those laws and regulations in the future, as well as the generation of operating cash flows in the future. Refer to Note 20 of our Consolidated Financial Statements for more information regarding the investment strategy and concentration of risk. Goodwill, Other Intangible Assets and Long-Lived Assets Goodwill We have significant goodwill on our balance sheet related to historical acquisitions and the PTx Trimble joint venture transaction in 2024, which we accounted for using the acquisition method of accounting. We test goodwill for impairment, at the reporting unit level, annually as of October 1st or more frequently when events or circumstances indicate that the fair value of a reporting unit is more likely than not less than its carrying value. A reporting unit is an operating segment or one level below an operating segment, for example, a component. We combine and aggregate two or more components of an operating segment as a single reporting unit if the components have similar economic characteristics. Our reportable segments are not our reporting units. The goodwill arising from the PTx Trimble joint venture has been assigned to four new reporting units within our North America, South America, Europe/Middle East and Asia/Pacific/Africa operating segments. Goodwill is evaluated for impairment using a qualitative assessment or a quantitative assessment. If we elect to perform a qualitative assessment and determine the fair value of our reporting units more likely than not exceeds their carrying value of net assets, no further evaluation is necessary. For reporting units where we perform a quantitative assessment, we compare the fair value of each reporting unit to its respective carrying value of net assets, including goodwill. If the fair value of the reporting unit exceeds its carrying value of net assets, the goodwill is not considered impaired. If the carrying value of net assets is higher than the fair value of the reporting unit, an impairment charge is recorded in the amount by which the carrying value exceeds the reporting unit’s fair value. For the quantitative impairment assessment, we may utilize one or a combination of valuation techniques. We use a discounted cash flow model (income approach) whereby the present value of future expected operating net cash flows are calculated using a discount rate; and a guideline public company method (market approach), whereby EBITDA and/or revenue multiples are derived from the market prices of stocks of companies that are engaged in the same or similar lines of business and that are actively traded on a free and open market. We make various assumptions, including assumptions regarding future cash flows, growth rates, discount rates, and market multiples in our assessment of the impairment of goodwill. The assumptions about future cash flows and growth rates are based on the current and long-term business plans of the reporting unit and country specific agricultural industry and economic growth projections. Future cash flows and growth rates are dependent upon the agricultural industry and other factors that could adversely affect the agricultural industry, including but not limited to, declines in the general economy, increases in 43

farm input costs, weather conditions, lower commodity prices and changes in the availability of credit. Discount rate assumptions are based on an assessment of the risk inherent in the future cash flows of the reporting unit. These assumptions require significant judgments on our part, and the conclusions that we reach could vary significantly based on these judgments. The annual impairment tests completed as of October 1, 2025 indicated the fair value of each of the Company's reporting units was substantially above its respective carrying value except for the PTx North America reporting unit, which is part of the North America operating segment. The results of the impairment test indicated the fair value in excess of the carrying value of our PTx North America reporting unit was approximately 16%. We estimated the fair value of the PTx North America reporting unit using a combination of an income and market approach. The most critical assumptions used in the calculation of the fair value of the reporting unit were the forecasted revenue growth and the discount rate used in the discounted cash flow model as well as the selection of peer companies and respective revenue multiples used in the guideline public company method. If we had changed the discount rate assumption used to estimate the fair value of our PTx North America reporting unit as of the annual impairment test under the income approach, in isolation, it would have resulted in a change in the fair value in excess of the carrying value of this reporting unit. An increase in the discount rate of 1.0 percent would have decreased the headroom to approximately 3% while a decrease in the discount rate of 1.0 percent would have increased the headroom to approximately 32%. As of December 31, 2025, we had approximately $1,898.8 million of goodwill. While our annual impairment testing in 2025 supports the carrying amount of this goodwill, we may be required to re-evaluate the carrying amount in future periods, thus utilizing different assumptions that reflect the then current market conditions and expectations, and, therefore, we could conclude that an impairment has occurred. Long-lived assets We review our long-lived assets, which include intangible assets subject to amortization, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The evaluation for recoverability is performed at a level where independent cash flows may be attributed to either an asset or asset group. If we determine that the carrying amount of an asset or asset group is not recoverable based on the expected undiscounted future cash flows of the asset or asset group, an impairment loss is recorded equal to the excess of the carrying amounts over the estimated fair value of the long-lived assets. Estimates of future cash flows are based on many factors, including current operating results, expected market trends and competitive influences. We also evaluate the amortization or depreciation periods assigned to our long-lived assets to determine whether events or changes in circumstances warrant revised estimates of useful lives. Assets to be disposed of by sale are reported at the lower of the carrying amount or fair value, less estimated costs to sell. Item 7A. Quantitative and Qualitative Disclosures About Market Risk The Quantitative and Qualitative Disclosures about Market Risk information required by this Item set forth under the captions “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Foreign Currency Risk Management” and “Interest Rate Risk” under Item 7 of this Form 10-K are incorporated herein by reference. 44

Item 8. Financial Statements and Supplementary Data The following Consolidated Financial Statements of AGCO Corporation for each of the years in the three-year period ended December 31, 2025 are included in this Item: Page Report of Independent Registered Public Accounting Firm (Firm ID: 185) 46 Consolidated Statements of Operations for the years ended December 31, 2025, 2024 and 2023 49 Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2025, 2024 and 2023 50 Consolidated Balance Sheets as of December 31, 2025 and 2024 51 Consolidated Statements of Stockholders’ Equity for the years ended December 31, 2025, 2024 and 2023 52 Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024 and 2023 53 Notes to Consolidated Financial Statements 54 45

Report of Independent Registered Public Accounting Firm To the Stockholders and Board of Directors AGCO Corporation: Opinion on the Consolidated Financial Statements We have audited the accompanying consolidated balance sheets of AGCO Corporation and subsidiaries (the Company) as of December 31, 2025 and 2024, the related consolidated statements of operations, comprehensive income (loss), stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2025, and the related notes (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2025, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission, and our report dated February 13, 2026 expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting. Basis for Opinion These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion. Critical Audit Matters The critical audit matters communicated below are matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgements. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate. Assessment of the reserve and allowance for volume discount and sales incentive programs in certain geographic regions As discussed in Note 1 to the consolidated financial statements, the Company provides various volume discount and sales incentive programs with respect to its products. As of December 31, 2025, the Company had accrued volume discounts and sales incentives of approximately $927.2 million and an allowance for sales incentive discounts of approximately $24.6 million. Sales incentive programs include reductions in invoice prices, reductions in retail finance rates, dealer commissions and dealer incentive allowances. Volume discounts and sales incentives are recorded at the time of sale as a reduction of revenue using the expected value method. We identified the assessment of the reserve and allowance for volume discount and sales incentive programs in certain geographic regions as a critical audit matter. Auditor judgment was required to evaluate certain assumptions which had a higher degree of measurement uncertainty. Significant assumptions included estimated incentive rates, which were the 46

estimated rates at which programs were applied to eligible products, and estimated achievement by dealers of specified cumulative targeted purchase levels. The following are the primary procedures we performed to address this critical audit matter. We evaluated the design and tested the operating effectiveness of certain internal controls over the Company’s reserve and allowance for volume discount and sales incentive process, including controls related to the development of the significant assumptions. For certain volume discount and sales incentive programs, we compared the program details to dealer communications and the significant assumptions to historical results for similar programs. We assessed the Company’s historical ability to estimate significant assumptions by comparing the prior year estimated amounts to actual discounts and sales incentives realized by the customers. We evaluated the significant assumptions by comparing them to actual results, including the results of transactions occurring after year-end. Assessment of gross unrecognized income tax benefits in certain jurisdictions As discussed in Note 19 to the consolidated financial statements, the Company has recorded a liability for gross unrecognized income tax benefits of approximately $469.9 million as of December 31, 2025. The Company recognizes income tax benefits from uncertain tax positions only when there is a more than 50% likelihood that the tax positions will be sustained upon examination by the taxing authorities based on the technical merits of the positions. We identified the assessment of gross unrecognized income tax benefits in certain jurisdictions as a critical audit matter. Complex auditor judgment and specialized skills were required in evaluating the Company’s interpretation and application of tax laws and the estimate of the amount of tax benefits expected to be realized. The following are the primary procedures we performed to address this critical audit matter. We evaluated the design and tested the operating effectiveness of certain internal controls over the Company’s gross unrecognized income tax benefit process. This included controls related to the Company’s consideration of information that could affect the recognition or measurement of income tax benefits from uncertain tax positions and the interpretation and application of tax laws. We involved tax professionals with specialized skills and knowledge, who assisted in: • inspecting correspondence and assessments from the taxing authorities • evaluating the Company’s interpretation and application of tax laws • developing an expectation of the Company’s tax positions and comparing the results to the Company’s assessment Assessment of goodwill impairment for a certain reporting unit As discussed in Note 1 to the consolidated financial statements, the Company evaluates goodwill for impairment annually as of October 1 and when events or circumstances indicate that the fair value of a reporting unit may be below its carrying value. As of December 31, 2025, the Company has $1,898.8 million of goodwill. The Company performs its goodwill impairment analyses using either a qualitative or a quantitative assessment. The fair values of the reporting units are determined based on a combination of valuation techniques, including an income approach and guideline public company method. Based on the Company’s analysis, the Company determined that the fair value of a certain reporting unit was in excess of the carrying value and therefore did not record any goodwill impairment for this reporting unit. We identified the assessment of the Company's goodwill impairment testing for a certain reporting unit as a critical audit matter. A high degree of subjective auditor judgment was required to evaluate the fair value of the reporting unit. Certain significant assumptions used to determine fair value of the reporting unit, including forecasted revenue growth and discount rate assumptions, had limited observable market information. The determined fair value was sensitive to changes in these significant assumptions. The following are the primary procedures we performed to address this critical audit matter. We evaluated the design and tested the operating effectiveness of certain internal controls over the Company’s goodwill impairment process, including controls over the significant assumptions. We compared the Company’s forecasted revenue growth assumptions used in the valuation model against underlying business strategies, growth plans, and industry data. We compared the Company’s historical revenue forecasts to actual results to assess the Company’s ability to forecast. In addition, we involved valuation professionals with specialized skills and knowledge, who assisted in: • evaluating the Company’s discount rate by comparing it to a range of discount rates independently developed using publicly available market data of guideline companies 47

• performing sensitivity analyses over the forecasted revenue growth assumptions to assess the impact of changes on the Company's fair value determination • recomputing the estimate of fair value for the reporting unit using the Company’s significant assumptions and comparing the result to the Company’s fair value estimate /s/ KPMG LLP We have served as the Company’s auditor since 2002. Atlanta, Georgia February 13, 2026 48

AGCO CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) Years Ended December 31, 2025 2024 2023 Net sales ........................................................................................................................ $ 10,082.0 $ 11,661.9 $ 14,412.4 Cost of goods sold ........................................................................................................ 7,515.2 8,762.8 10,635.0 Gross profit ................................................................................................................... 2,566.8 2,899.1 3,777.4 Operating expenses: Selling, general and administrative expenses ............................................................. 1,309.3 1,397.7 1,454.5 Engineering expenses ................................................................................................. 487.7 493.0 548.8 Amortization of intangibles ........................................................................................ 71.1 81.0 57.7 Impairment charges .................................................................................................... 10.0 369.5 4.1 Restructuring and business optimization expenses .................................................... 82.2 172.7 11.9 Loss on sale of business ............................................................................................. 10.8 507.3 — Income (loss) from operations ...................................................................................... 595.7 (122.1) 1,700.4 Interest expense, net ................................................................................................... 66.4 93.0 4.6 Other expense (income), net ....................................................................................... (72.7) 218.5 362.3 Income (loss) before income taxes and equity in net earnings of affiliates .................. 602.0 (433.6) 1,333.5 Income tax provision (benefit) ................................................................................... (77.4) 98.4 230.4 Income (loss) before equity in net earnings of affiliates .............................................. 679.4 (532.0) 1,103.1 Equity in net earnings of affiliates ............................................................................. 39.6 46.4 68.2 Net income (loss) .......................................................................................................... 719.0 (485.6) 1,171.3 Net loss attributable to noncontrolling interests ........................................................... 7.5 60.8 0.1 Net income (loss) attributable to AGCO Corporation .................................................. $ 726.5 $ (424.8) $ 1,171.4 Net income (loss) per common share attributable to AGCO Corporation: Basic ........................................................................................................................... $ 9.76 $ (5.69) $ 15.66 Diluted ........................................................................................................................ $ 9.75 $ (5.69) $ 15.63 Cash dividends declared and paid per common share .................................................. $ 1.16 $ 3.66 $ 6.10 Weighted average number of common and common equivalent shares outstanding: Basic ........................................................................................................................... 74.4 74.6 74.8 Diluted ........................................................................................................................ 74.5 74.7 74.9 See accompanying notes to Consolidated Financial Statements. 49

AGCO CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in millions) Years Ended December 31, 2025 2024 2023 Net income (loss) .......................................................................................................... $ 719.0 $ (485.6) $ 1,171.3 Other comprehensive income (loss): Defined pension and postretirement benefit plans, net of tax: Prior service cost arising during the year ............................................................ (0.1) (0.9) — Net loss (gain) recognized due to settlement ...................................................... (0.2) 14.0 0.4 Net actuarial loss arising during the year ............................................................ (11.4) (2.2) (16.1) Amortization of prior service cost ...................................................................... 1.5 1.1 1.3 Amortization of net actuarial losses .................................................................... 5.6 7.8 7.0 Deferred gains and losses on derivatives, net of tax: Net changes in fair value of derivatives .............................................................. 0.8 3.4 (8.9) Net losses (gains) reclassified from accumulated other comprehensive loss into income ..................................................................................................... (6.5) 6.3 9.0 Foreign currency translation adjustments ................................................................ 144.9 (226.6) 102.3 Other comprehensive income (loss) ............................................................................. 134.6 (197.1) 95.0 Comprehensive income (loss) ...................................................................................... 853.6 (682.7) 1,266.3 Comprehensive loss attributable to noncontrolling interests ........................................ 0.9 63.1 0.1 Comprehensive income (loss) attributable to AGCO Corporation ............................... $ 854.5 $ (619.6) $ 1,266.4 See accompanying notes to Consolidated Financial Statements. 50

AGCO CORPORATION CONSOLIDATED BALANCE SHEETS (in millions, except share amounts) December 31, 2025 December 31, 2024 ASSETS Current Assets: Cash and cash equivalents ..................................................................................... $ 861.8 $ 612.7 Accounts and notes receivable, net ....................................................................... 1,079.4 1,267.4 Inventories, net ...................................................................................................... 2,709.3 2,731.3 Other current assets ............................................................................................... 545.6 526.6 Total current assets ........................................................................................... 5,196.1 5,138.0 Property, plant and equipment, net .......................................................................... 1,996.2 1,818.6 Right-of-use lease assets .......................................................................................... 167.3 168.9 Investments in affiliates ........................................................................................... 609.9 519.6 Deferred tax assets ................................................................................................... 905.5 561.0 Other assets .............................................................................................................. 481.0 435.2 Intangible assets, net ................................................................................................ 673.0 728.9 Goodwill .................................................................................................................. 1,898.8 1,820.4 Total assets ....................................................................................................... $ 11,927.8 $ 11,190.6 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY Current Liabilities: Borrowings due within one year ........................................................................... $ 117.7 $ 415.2 Accounts payable .................................................................................................. 951.0 813.0 Accrued expenses .................................................................................................. 2,538.7 2,469.6 Other current liabilities ......................................................................................... 121.7 128.2 Total current liabilities ...................................................................................... 3,729.1 3,826.0 Long-term debt, less current portion and debt issuance costs ................................. 2,323.1 2,233.3 Operating lease liabilities ......................................................................................... 122.1 127.5 Pension and postretirement health care benefits ...................................................... 169.2 155.6 Deferred tax liabilities ............................................................................................. 126.5 125.0 Other noncurrent liabilities ...................................................................................... 885.1 680.3 Total liabilities .................................................................................................. 7,355.1 7,147.7 Commitments and contingencies (Note 22) Redeemable noncontrolling interests ....................................................................... 299.2 300.1 Stockholders’ Equity: Preferred stock; $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding in 2025 and 2024 ........................................................................... — — Common stock; $0.01 par value, 150,000,000 shares authorized, 72,629,310 and 74,420,952 shares issued and outstanding at December 31, 2025 and 2024, respectively ........................................................................................................... 0.7 0.7 Additional paid-in capital ...................................................................................... 0.5 — Retained earnings .................................................................................................. 6,047.2 5,645.0 Accumulated other comprehensive loss ................................................................ (1,774.9) (1,902.9) Total stockholders’ equity ................................................................................ 4,273.5 3,742.8 Total liabilities, redeemable noncontrolling interests and stockholders’ equity ...... $ 11,927.8 $ 11,190.6 See accompanying notes to Consolidated Financial Statements. 51

AGCO CORPORATION CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (in millions, except share amounts) Additional Paid-in Capital Retained Earnings Noncontrolling Interests Total Stockholders’ Equity Common Stock Accumulated Other Comprehensive Loss Redeemable Noncontrolling Interests Shares Amount Balance, December 31, 2022 ................................................................ $ — 74,600,815 $ 0.7 $ 30.2 $ 5,654.6 $ (1,803.1) $ 0.2 $ 3,882.6 Net income (loss) .............................................................................. — — — — 1,171.4 — (0.1) 1,171.3 Adoption of ASU 2016-13 by finance joint ventures ....................... — — — — (5.5) — — (5.5) Payment of dividends to stockholders .............................................. — — — — (457.4) — — (457.4) Issuance of non-employee director restricted stock ......................... — 10,524 — 1.5 — — — 1.5 Issuance of stock awards .................................................................. — 256,709 — (20.5) — — — (20.5) SSARs exercised .............................................................................. — 21,594 — (2.1) — — — (2.1) Stock compensation .......................................................................... — — — 44.9 — — — 44.9 Purchases and retirement of common stock ..................................... — (371,669) — (49.9) (3.1) — — (53.0) Defined pension and postretirement benefit plans, net of tax .......... — — — — — (7.4) — (7.4) Deferred gains and losses on derivatives, net of tax ........................ — — — — — 0.1 — 0.1 Foreign currency translation adjustments ......................................... — — — — — 102.3 — 102.3 Balance, December 31, 2023 ................................................................ — 74,517,973 0.7 4.1 6,360.0 (1,708.1) 0.1 4,656.8 Net income (loss) .............................................................................. (60.8) — — — (424.8) — — (424.8) Payment of dividends to stockholders .............................................. — — — — (273.1) — — (273.1) Issuance of non-employee director restricted stock ......................... — 12,842 — 1.7 — — — 1.7 Issuance of stock awards .................................................................. — 198,601 — (13.5) (0.5) — — (14.0) SSARs exercised .............................................................................. — 3,388 — (0.2) — — — (0.2) Stock compensation .......................................................................... — — — 10.2 — — — 10.2 Purchases and retirement of common stock ..................................... — (311,852) — (5.4) (16.6) — — (22.0) Sale of minority interest ................................................................... — — — — — — (0.1) (0.1) Equity transaction associated with JCA noncontrolling interest ...... — — — 3.1 — — — 3.1 Initial fair value of redeemable noncontrolling interests .................. 355.1 — — — — — — — Investment by redeemable noncontrolling interest ........................... 8.1 — — — — — — — Defined pension and postretirement benefit plans, net of tax .......... — — — — — 19.8 — 19.8 Deferred gains and losses on derivatives, net of tax ........................ — — — — — 9.7 — 9.7 Foreign currency translation adjustments ......................................... (2.3) — — — — (224.3) — (224.3) Balance, December 31, 2024 ................................................................ 300.1 74,420,952 0.7 — 5,645.0 (1,902.9) — 3,742.8 Net income (loss) .............................................................................. (7.5) — — — 726.5 — — 726.5 Payment of dividends to stockholders .............................................. — — — — (86.5) — — (86.5) Issuance of non-employee director restricted stock ......................... — 16,738 — 1.5 — — — 1.5 Issuance of stock awards .................................................................. — 185,717 — (7.0) (4.4) — — (11.4) SSARs exercised .............................................................................. — 3,107 — (0.3) — — — (0.3) Stock compensation .......................................................................... — — — 25.2 — — — 25.2 Purchases and retirement of common stock ..................................... — (1,997,204) — (18.9) (233.4) — — (252.3) Defined pension and postretirement benefit plans, net of tax .......... — — — — — (4.6) — (4.6) Deferred gains and losses on derivatives, net of tax ........................ — — — — — (5.7) — (5.7) Foreign currency translation adjustments ......................................... 6.6 — — — — 138.3 — 138.3 Balance, December 31, 2025 ................................................................ $ 299.2 72,629,310 $ 0.7 $ 0.5 $ 6,047.2 $ (1,774.9) $ — $ 4,273.5 See accompanying notes to Consolidated Financial Statements. 52

AGCO CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) Years Ended December 31, 2025 2024 2023 Cash flows from operating activities: Net income (loss) ....................................................................................................... $ 719.0 $ (485.6) $ 1,171.3 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation ........................................................................................................... 256.5 251.2 230.4 Amortization of intangibles ................................................................................... 71.1 81.0 57.7 Stock compensation expense ................................................................................. 28.4 18.4 46.4 Impairment charges ............................................................................................... 10.0 369.5 4.1 Loss on sale of business ......................................................................................... 10.8 507.3 — Gain on sale of investment in affiliate ................................................................... (251.9) — — U.S. pension plan termination and settlement ....................................................... — 18.5 — Equity in net earnings of affiliates, net of cash received ....................................... (20.6) (29.4) (36.4) Deferred income tax benefit .................................................................................. (366.5) (102.7) (264.4) Other ...................................................................................................................... 35.7 32.2 6.7 Changes in operating assets and liabilities: ........................................................... Accounts and notes receivable, net ................................................................... 231.0 59.1 (443.8) Inventories, net .................................................................................................. 237.5 308.8 (164.4) Other current and noncurrent assets .................................................................. (17.1) (36.7) (243.0) Accounts payable .............................................................................................. 43.4 (224.9) (191.6) Accrued expenses .............................................................................................. (114.1) (190.2) 566.5 Other current and noncurrent liabilities ............................................................ 114.9 113.4 363.6 Total adjustments ............................................................................................ 269.1 1,175.5 (68.2) Net cash provided by operating activities ....................................................... 988.1 689.9 1,103.1 Cash flows from investing activities: Purchases of property, plant and equipment .............................................................. (247.9) (393.3) (518.1) Proceeds from sale of property, plant and equipment ................................................ 2.0 2.1 11.8 Purchase of businesses, net of cash acquired ............................................................. — (1,903.7) (9.8) Proceeds from sale of business ................................................................................... (1.8) 630.7 — Sale of (investments in) unconsolidated affiliates, net ............................................... 236.8 (7.4) (21.6) Proceeds from cross currency swap contract ............................................................. — 22.6 — Other ........................................................................................................................... (17.4) (1.4) (8.0) Net cash used in investing activities ............................................................... (28.3) (1,650.4) (545.7) Cash flows from financing activities: Proceeds from indebtedness ....................................................................................... 57.0 1,875.7 329.8 Repayments of indebtedness ...................................................................................... (436.7) (513.4) (458.6) Purchases and retirement of common stock ............................................................... (250.0) (22.0) (53.0) Payment of dividends to stockholders ........................................................................ (86.5) (273.1) (457.4) Payment of minimum tax withholdings on stock compensation ................................ (13.0) (14.1) (21.6) Payment of debt issuance costs .................................................................................. — (15.7) (10.9) Investments by noncontrolling interests, net .............................................................. — 8.1 — Net cash provided by (used in) financing activities ....................................... (729.2) 1,045.5 (671.7) Effect of exchange rate changes on cash, cash equivalents and restricted cash ........... 18.5 (67.8) (79.7) Increase (decrease) in cash, cash equivalents and restricted cash ................................. 249.1 17.2 (194.0) Cash, cash equivalents and restricted cash, beginning of year ..................................... 612.7 595.5 789.5 Cash, cash equivalents and restricted cash, end of year $ 861.8 $ 612.7 $ 595.5 See accompanying notes to Consolidated Financial Statements. 53

1. OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business AGCO Corporation (“AGCO” or the “Company”) is a global leader in agricultural machinery and precision agriculture technologies. Driven by a Farmer-First strategy, AGCO delivers value through its differentiated leading brands, Fendt™, Massey Ferguson™, PTx™ and Valtra™. AGCO’s high-performance equipment and smart farming solutions, including brand- agnostic retrofit technologies and autonomous offerings, empower farmers to drive productivity while sustainably feeding the world. The Company distributes most of its products through a combination of approximately 2,800 independent dealers and distributors. The Company also utilizes associates and licensees to provide a distribution channel for its products. In addition, the Company provides retail and wholesale financing through its finance joint ventures with Coöperatieve Rabobank U.A., which together with its affiliates, the Company refers to as “Rabobank.” Basis of Presentation and Consolidation The Company’s Consolidated Financial Statements represent the consolidation of all wholly-owned companies, majority-owned companies and joint ventures in which the Company has been determined to be the primary beneficiary. The Company consolidates a variable interest entity (“VIE”) if the Company determines it is the primary beneficiary. The primary beneficiary of a VIE is the party that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits that potentially could be significant to the VIE. The Company also consolidates all entities that are not considered VIEs if it is determined that the Company has a controlling voting interest to direct the activities that most significantly impact the joint venture or entity. For consolidated entities where our ownership interest is less than 100%, noncontrolling ownership interests are reported in our Consolidated Balance Sheets. The noncontrolling ownership interest is reported in our net income (loss), net of taxes, and is classified as “Net loss attributable to noncontrolling interests” in our Consolidated Statements of Operations. The Company records investments in affiliate companies using the equity method of accounting when it has significant influence. All significant intercompany balances and transactions have been eliminated in the Consolidated Financial Statements. Certain prior-period amounts have been reclassified in the accompanying Consolidated Financial Statements and Notes thereto in order to conform to the current period presentation. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The estimates made by management primarily relate to accounts and notes receivable, inventories, deferred income tax valuation allowances, uncertain tax positions, goodwill and other identifiable intangible assets, certain accrued liabilities, principally relating to reserves for volume discounts and sales incentives, warranty obligations, product liability and pension and postretirement benefits. Foreign Currency Translation The financial statements of the Company’s foreign subsidiaries are translated into United States currency in accordance with Accounting Standards Codification (“ASC”) 830, “Foreign Currency Matters.” Assets and liabilities are translated to United States dollars at period-end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the period. Translation adjustments are included in “Accumulated other comprehensive loss” in stockholders’ equity within the Company’s Consolidated Balance Sheets. Gains and losses, which result from foreign currency transactions, are included in the accompanying Consolidated Statements of Operations. The Company has a wholly-owned subsidiary in Turkey that distributes agricultural equipment and replacement parts. On the basis of available data related to inflation indices and as a result of the devaluation of the Turkish lira relative to the United States dollar, the Turkish economy was determined to be highly inflationary during 2022. A highly inflationary economy is one where the cumulative inflation rate for the three years preceding the beginning of the reporting period, including interim reporting periods, is in excess of 100 percent. For subsidiaries operating in highly inflationary economies, the United States dollar is the functional currency. Remeasurement adjustments for financial statements in highly inflationary economies and other transactional exchange gains and losses are reported in “Other expense (income), net” within the AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 54

Company's Consolidated Statements of Operations. For the year ended and as of December 31, 2025, the Company's wholly- owned subsidiary in Turkey had net sales of approximately $262.9 million and total assets of approximately 6.0 billion Turkish lira (or approximately $139.6 million). The monetary assets and liabilities denominated in the Turkish lira were approximately 4.9 billion Turkish lira (or approximately $114.5 million) and approximately 2.7 billion Turkish lira (or approximately $62.6 million), respectively, as of December 31, 2025. The monetary assets and liabilities were remeasured into United States dollars based on exchange rates as of December 31, 2025. The Company has a wholly-owned subsidiary in Argentina that assembles and distributes agricultural equipment and replacement parts. In recent years, the Argentine government has substantially limited the ability of companies to transfer funds out of Argentina. Argentina's economy was determined to be highly inflationary during 2018. In December 2023, the central bank of Argentina adjusted the official foreign currency exchange rate for the Argentine peso, significantly devaluing the currency relative to the United States dollar. For the year ended and as of December 31, 2025, the Company's wholly-owned subsidiary in Argentina had net sales of approximately $188.4 million and total assets of approximately 313.3 billion pesos (or approximately $216.2 million). The monetary assets of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 85.0 billion pesos (or approximately $58.7 million), inclusive of approximately 16.5 billion pesos (or approximately $11.4 million) in cash and cash equivalents, as of December 31, 2025. The monetary liabilities of the Company's operations in Argentina denominated in pesos at the official government rate were approximately 63.4 billion pesos (or approximately $43.8 million) as of December 31, 2025. The monetary assets and liabilities were remeasured into United States dollars based on exchange rates as of December 31, 2025. The Company's finance joint venture in Argentina, AGCO Capital Argentina S.A. (“AGCO Capital”) has net monetary assets denominated in pesos at the official government rate of approximately 4.3 billion pesos (or approximately $3.0 million) as of December 31, 2025. All gains and losses resulting from AGCO Capital's remeasurement of its monetary assets and liabilities are reported in “Equity in net earnings of affiliates” within the Company's Consolidated Statements of Operations. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents reported in the Consolidated Balance Sheets as of December 31, 2025, 2024 and 2023 and cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024 and 2023 are as follows (in millions): December 31, 2025 December 31, 2024 December 31, 2023 Cash(1) .................................................................................. $ 424.5 $ 342.5 $ 463.8 Cash equivalents(2) ............................................................... 436.6 269.5 131.2 Restricted cash(3) ................................................................. 0.7 0.7 0.5 Total $ 861.8 $ 612.7 $ 595.5 ____________________________________ (1) Consisted primarily of cash on hand and bank deposits. (2) Consisted primarily of money market deposits, certificates of deposit and overnight investments. The Company considers all investments with an original maturity of three months or less to be cash equivalents. (3) Consisted primarily of cash in escrow or held as a guarantee. Property, Plant and Equipment Property, plant and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation is provided on a straight-line basis over the estimated useful lives of five to 40 years for buildings and improvements, three to 25 years for machinery and equipment and five to 10 years for furniture and fixtures. Expenditures for maintenance and repairs are primarily charged to expense as incurred. Accounts and Notes Receivable Accounts and notes receivable arise from the sale of equipment and replacement parts to independent dealers, distributors or other customers. In the United States and Canada, receivables arising from sales to dealers are immediately due upon a retail sale of the underlying equipment by the dealer. If not previously paid by the dealer in the United States and Canada, installment payments are required generally beginning after the interest-free period with the remaining outstanding equipment balance generally due within 12 months after shipment or delivery. These interest-free periods vary by product and generally range from one to 12 months. In limited circumstances, the Company provides sales terms, and in some cases, AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 55

interest-free periods that are longer than 12 months for certain products. These are typically specified programs predominantly in the United States and Canada, that allow for interest-free periods and due dates of up to 24 months for certain products depending on the year of the sale and the dealer or distributor’s ordering or sales volume during the preceding year. Interest generally is charged at or above prime lending rates on the outstanding receivable balances after shipment or delivery and after interest-free periods. Sales terms of some highly seasonal products provide for payment and due dates based on a specified date during the year regardless of the shipment date. Equipment sold to dealers in the United States and Canada is paid in full on average within 12 months of shipment. Sales of replacement parts generally are payable within 30 days of shipment, with terms for some larger, seasonal stock orders generally requiring payment within six months of shipment. Under normal circumstances, equipment may not be returned. Replacement parts are generally returnable if they meet certain criteria. The Company makes an estimate of product returns at the time of sale based on historical experience. In certain regions, with respect to most equipment sales, including the United States and Canada, the Company is obligated to repurchase equipment and replacement parts upon cancellation of a dealer or distributor contract. These obligations are required by national, state or provincial laws and require the Company to repurchase a dealer or distributor’s unsold inventory, including inventories for which the receivable already has been paid. Actual interest-free periods are shorter than described above because the equipment receivable from dealers or distributors in some countries, such as in the United States and Canada, is generally due immediately upon sale of the equipment to a retail customer as discussed above. Receivables can also be paid prior to terms specified in sales agreements. Under normal circumstances, interest is not forgiven and interest-free periods are not extended. In other international markets, equipment sales generally are payable in full within 30 days to 180 days of shipment or delivery. Payment terms for some highly seasonal products have a specified due date during the year regardless of the shipment or delivery date. For sales in most markets outside of the United States and Canada, the Company generally does not charge interest on outstanding receivables due from its dealers and distributors. Sales of replacement parts generally are payable within 30 days to 90 days of shipment, with terms for some larger, seasonal stock orders generally payable within six months of shipment. In certain markets, there is a time lag, which varies based on the timing and level of retail demand, between the date the Company records a sale and when the dealer sells the equipment to a retail customer. The following summarizes by geographic region, as a percentage of the Company’s consolidated net sales, amounts with maximum interest-free periods as presented below (in millions): Year Ended December 31, 2025 North America South America Europe/ Middle East Asia/ Pacific/Africa Consolidated 0 to 6 months .................................... $ 1,157.0 $ 1,115.6 $ 6,726.8 $ 564.2 $ 9,563.6 94.9 % 7 to 12 months .................................. 495.0 — 9.9 — 504.9 5.0 % 13 to 24 months ................................ 13.5 — — — 13.5 0.1 % $ 1,665.5 $ 1,115.6 $ 6,736.7 $ 564.2 $ 10,082.0 100.0 % The Company has accounts receivable sales agreements that permit transferring, on an ongoing basis, a majority of its wholesale interest-bearing and non-interest bearing accounts receivable in North America, Europe and Brazil to its U.S., Canadian, European and Brazilian finance joint ventures. Qualified dealers may obtain additional financing through the Company’s U.S., Canadian, European and Brazilian finance joint ventures at the joint ventures’ discretion. The Company provides various volume bonus and sales incentive programs with respect to its products. These sales incentive programs include reductions in invoice prices, reductions in retail financing rates, dealer commissions and dealer incentive allowances. In most cases, incentive programs are established and communicated to the Company’s dealers on a quarterly basis. The incentives are paid either at the time of the cash settlement of the receivable (which is generally at the time of retail sale), at the time of retail financing, at the time of warranty registration, or at a subsequent time based on dealer purchase volumes. The incentive programs are product-line specific and generally do not vary by dealer. The cost of sales incentives associated with dealer commissions and dealer incentive allowances is estimated based upon the terms of the programs and historical experience, is based on a percentage of the sales price, and estimates for sales incentives are made and recorded at the time of sale for expected incentive programs using the expected value method. These estimates are reassessed each reporting period and are revised in the event of subsequent modifications to incentive programs, as they are communicated to dealers. The related provisions and accruals are made on a product or product-line basis and are monitored for adequacy and revised at least quarterly in the event of subsequent modifications to the programs. Interest rate subsidy payments, which are a AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 56

reduction in retail finance rates, are recorded in the same manner as dealer commissions and dealer incentive allowances. Volume discounts are estimated and recognized based on historical experience, and related reserves are monitored and adjusted based on actual dealer purchase volumes and the dealer’s progress towards achieving specified cumulative target levels. Estimates of these incentives are based on the terms of the programs and historical experience. All incentive programs are recorded and presented as a reduction of revenue, due to the fact that the Company does not receive a distinct good or service in exchange for the consideration provided. In the United States and Canada, reserves for incentive programs related to accounts receivable not sold to the Company’s U.S. and Canadian finance joint ventures are recorded as “Accounts receivable allowances” within the Company’s Consolidated Balance Sheets due to the fact that the incentives are paid through a reduction of future cash settlement of the receivable. Globally, reserves for incentive programs that will be paid in cash or credit memos, as is the case with most of the Company’s volume discount programs, as well as sales with incentives associated with accounts receivable sold to its finance joint ventures, are recorded within “Accrued expenses” within the Company’s Consolidated Balance Sheets. Accounts and notes receivable are shown net of allowances for sales incentive discounts available to dealers and for credit losses. Cash flows related to the collection of receivables are reported within “Cash flows from operating activities” within the Company’s Consolidated Statements of Cash Flows. Accounts and notes receivable allowances at December 31, 2025 and 2024 were as follows (in millions): 2025 2024 Sales incentive discounts ................................................................................................................. $ 24.6 $ 57.8 Allowance for credit losses .............................................................................................................. 49.9 41.8 $ 74.5 $ 99.6 The Company maintains allowances for estimated credit losses, which are developed at a market, country, and region level based on risk of collection as well as current and forecasted economic conditions. The Company calculates the allowance based on an assessment of the risk when the accounts receivable is recognized and records within “Selling, general and administrative expenses” in the Company's Consolidated Statement of Operations. Write-offs are recorded at the time a customer receivable is deemed uncollectible. Additions Description Balance at Beginning of Period Acquired Businesses Charged to Costs and Expenses Write-offs Deductions(1) Foreign Currency Translation Balance at End of Period Year ended December 31, 2025 Allowances for credit losses ......... $ 41.8 $ — $ 7.0 $ (1.9) $ — $ 3.0 $ 49.9 Year ended December 31, 2024 Allowances for credit losses ......... $ 31.9 $ — $ 22.0 $ (4.2) $ (5.5) $ (2.4) $ 41.8 Year ended December 31, 2023 Allowances for credit losses ......... $ 31.3 $ — $ 4.2 $ (4.6) $ — $ 1.0 $ 31.9 ____________________________________ (1) Deductions are the result of the sale of the majority of the Company's Grain & Protein business. Refer to Note 3 for additional information. In the United States and Canada, sales incentives can be paid through future cash settlements of receivables and through credit memos to Company’s dealers or through reductions in retail financing rates paid to the Company’s finance joint ventures. Outside of the United States and Canada, sales incentives can be paid through cash or credit memos to the Company’s dealers or through reductions in retail financing rates paid to the Company’s finance joint ventures. The Company transfers certain accounts receivable under its accounts receivable sales agreements with its finance joint ventures and other financial institutions (see Note 5). The Company records such transfers as sales of accounts receivable when it is considered to have surrendered control of such receivables under the provisions of ASU 2009-16, “Transfers and Servicing (Topic 860): Accounting for Transfers of Financial Assets.” Cash payments made to the Company’s finance joint ventures for sales incentive discounts provided to dealers related to outstanding accounts receivables sold are recorded within “Accrued expenses” within the Company's Consolidated Balance Sheets. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 57

Inventories Inventories are valued at the lower of cost or net realizable value, using the first-in, first-out method. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Goodwill, Other Intangible Assets and Long-Lived Assets The Company tests goodwill for impairment, at the reporting unit level, annually as of October 1st or more frequently when events or circumstances indicate that the fair value of a reporting unit is more likely than not less than its carrying value. A reporting unit is an operating segment or one level below an operating segment, for example, a component. The Company combines and aggregates two or more components of an operating segment as a single reporting unit if the components have similar economic characteristics. The Company's reportable segments are not its reporting units. Goodwill is evaluated for impairment using a qualitative assessment or a quantitative assessment. If the Company elects to perform a qualitative assessment and determines the fair value of a reporting unit more likely than not exceeds the carrying value of the reporting unit's net assets, no further evaluation is necessary. For reporting units where the Company performs a quantitative assessment, it compares the fair value of each reporting unit to its respective carrying value of net assets, including goodwill. If the fair value of the reporting unit exceeds its carrying value of net assets, the goodwill is not considered impaired. If the carrying value of net assets is higher than the fair value of the reporting unit, an impairment charge is recorded in the amount by which the carrying value exceeds the reporting unit’s fair value. For the quantitative impairment assessment, the Company may utilize one or a combination of valuation techniques. A discounted cash flow model (income approach) is used whereby the present value of future expected operating net cash flows are calculated using a discount rate; and a guideline public company method (market approach) is used, whereby EBITDA and/ or revenue multiples are derived from the market prices of stocks of companies that are engaged in the same or similar lines of business and that are actively traded on a free and open market. The Company reviews its long-lived assets, which include intangible assets subject to amortization, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The evaluation for recoverability is performed at a level where independent cash flows may be attributed to either an asset or asset group. If the Company determines that the carrying amount of an asset or asset group is not recoverable based on the expected undiscounted future cash flows of the asset or asset group, an impairment loss is recorded equal to the excess of the carrying amounts over the estimated fair value of the long-lived assets. Estimates of future cash flows are based on many factors, including current operating results, expected market trends and competitive influences. The Company also evaluates the amortization or depreciation periods assigned to its long-lived assets to determine whether events or changes in circumstances warrant revised estimates of useful lives. Assets to be disposed of by sale are reported at the lower of the carrying amount or fair value, less estimated costs to sell. The results of the goodwill impairment analyses conducted as of October 1, 2025 indicated that no impairment existed and no reduction in the carrying amount of goodwill was required. The results of the goodwill impairment analyses conducted as of October 1, 2024, indicated that the carrying value of the net assets of the Company’s PTx Trimble North America reporting unit, which is part of the North America operating segment, was in excess of the fair value of the reporting unit, and therefore, the Company recorded an impairment charge of approximately $351.0 million within “Impairment charges” in the Company’s Consolidated Statements of Operations. The results of the goodwill impairment analyses conducted as of October 1, 2023 indicated that no impairment existed and no reduction in the carrying amount of goodwill was required. The Company’s accumulated goodwill impairment is approximately $708.2 million related to the PTx Trimble reporting unit in North America as noted above and in 2019, 2012 and 2006 pertaining to its grain storage and protein production systems business in Europe/Middle East, its Chinese harvesting reporting unit and its former sprayer reporting unit, respectively. The Company’s former grain storage and protein production systems Europe/Middle East reporting unit operated within the Europe/Middle East geographical reportable segment. The Chinese harvesting business operates within the Asia/Pacific/Africa geographical reportable segment and the former sprayer reporting unit operated within the North American geographical reportable segment. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 58

The Company amortizes certain acquired identifiable intangible assets primarily on a straight-line basis over their estimated useful lives, which range from three to 50 years. The acquired intangible assets have a weighted average useful life as follows: Intangible Assets Weighted-Average Useful Life Patents and technology ................................................................................................................................. 13 years Customer relationships ................................................................................................................................. 16 years Trademarks and trade names ........................................................................................................................ 22 years Other ............................................................................................................................................................. 13 years The Company has previously determined that two of its trademarks have an indefinite useful life. The Massey Ferguson trademark has been in existence since 1952 and was formed from the merger of Massey-Harris (established in the 1890’s) and Ferguson (established in the 1930’s). The Company also has identified the Valtra trademark as an indefinite-lived asset. The Valtra trademark has been in existence since the late 1990’s, but is a derivative of the Valmet trademark which has been in existence since 1951. The Valmet name transitioned to the Valtra name over a period of time in the marketplace. Both the Massey Ferguson brand and the Valtra brand are primary product lines of the Company’s business, and the Company plans to use these trademarks for an indefinite period of time. The Company plans to continue to make investments in product development to enhance the value of these brands into the future. There are no legal, regulatory, contractual, competitive, economic or other factors that the Company is aware of or that the Company believes would limit the useful lives of the trademarks. The Massey Ferguson and Valtra trademark registrations can be renewed at a nominal cost in the countries in which the Company operates. Revenue The Company accounts for revenue recognition pursuant to ASU 2014-09, “Revenue from Contracts with Customers.” Revenue is recognized when the Company satisfies the performance obligation by transferring control over goods or services to a dealer, distributor or other customer. The amount of revenue recognized is measured as the consideration the Company expects to receive in exchange for those goods or services pursuant to a contract with the customer. A contract exists once the Company receives and accepts a purchase order under a dealer sales agreement, or once the Company enters into a contract with an end user. The Company does not recognize revenue in cases where collectability is not probable, and defers the recognition until collection is probable or payment is received. The Company generates revenue from the manufacture and distribution of agricultural equipment and replacement parts. Sales of equipment and replacement parts, which represent a majority of the Company’s net sales, are recorded by the Company at the point in time when title and control have been transferred to an independent dealer, distributor or other customer. Title generally passes to the dealer or distributor upon shipment or specified delivery, and the risk of loss upon damage, theft or destruction of the equipment is the responsibility of the dealer, distributor or designated third-party carrier. The Company believes control passes and the performance obligation is satisfied at the point of the stated shipping or delivery term with respect to such sales. As previously discussed, the amount of consideration the Company receives and the revenue recognized varies with certain sales incentives the Company offers to dealers and distributors. Estimates for sales incentives are made at the time of sale for expected incentive programs using the expected value method. These estimates are revised in the event of subsequent modification to the incentive program. All incentive programs are recorded and presented as a reduction of revenue, due to the fact that the Company does not receive a distinct good or service in exchange for the consideration provided. Dealers or distributors may not return equipment or replacement parts while their contract with the Company is in force, except for under established promotional and annual replacement parts return programs. At the time of sale, the Company estimates the amount of returns based on the terms of promotional and annual return programs and anticipated returns in the future. Sales and other related taxes are excluded from the transaction price. Shipping and handling costs associated with freight activities after the customer has obtained control are accounted for as fulfillment costs and are expensed at the time revenue is recognized in “Cost of goods sold” and “Selling, general and administrative expenses” in the Company’s Consolidated Statements of Operations. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 59

As afforded under the practical expedient in ASU 2014-09, the Company does not adjust the amount of revenue to be recognized under a contract with a dealer, distributor or other customer for the time value of money when the difference between the receipt of payment and the recognition of revenue is less than one year. Although substantially all revenue is recognized at a point in time, a relatively insignificant amount of revenue is recognized on an “over time” basis as discussed below. The Company recognizes revenue “over time” with respect to extended warranty and maintenance contracts, certain precision technology services and subscriptions and certain installation revenue associated with the sale of grain storage and production systems. Extended warranty and maintenance services contracts and precision technology services and subscriptions generally have contract durations of more than 12 months. Generally, almost all of the grain storage and protein production systems contracts with customers that relate to “over time” revenue recognition have contract durations of less than 12 months. Extended Warranty Contracts. The Company sells separately priced extended warranty contracts and maintenance contracts, which extends coverage beyond the base warranty period, or covers maintenance over a specified period. Revenue is recognized for the extended warranty contract on a straight-line basis, which the Company believes approximates the costs expected to be incurred in satisfying the obligations, over the extended warranty period. The extended warranty period for the majority of products ranges from three to five years. When payment is received in advance of the performance obligation being satisfied, or when a portion of the overall transaction price is allocated to the extended warranty offered at no cost, revenue is deferred at contract inception and a contract liability is recognized. Precision Technology Services Revenue. The Company sells precision technology products, services and subscriptions individually (standalone) or in bundled packages. When a bundled package of technology products (hardware), services and/or subscriptions is sold, the portion of the consideration received related to the services and subscription components is recognized over time as the Company satisfies the future performance obligations. Revenue is recognized for the hardware component when control is transferred to the dealer or distributor. When payment is received in advance of the performance obligation being satisfied, or when a portion of the overall transaction price is allocated to a subscription, revenue is deferred at contract inception and a contract liability is recognized. The revenue associated with the performance obligations related to precision technology services and subscriptions is not significant. The costs of the software directly associated with the installation and functionality of precision technology products and services, including amortization and hosting costs, are reflected within “Cost of goods sold” and “Engineering expenses” within the Company’s Consolidated Statements of Operations. Grain Storage and Protein Production Systems Installation Revenue. In certain countries, the Company sells grain storage and protein production systems where the Company is responsible for construction and installation, and the sale is contingent upon customer acceptance. Under these conditions, the revenues are recognized over the term of the contract when the Company can objectively determine control has been transferred to the customer in accordance with agreed-upon specifications in the contract. For these contracts, the Company may be entitled to receive an advance payment, which is recognized as a contract liability for the amount in excess of the revenue recognized. The Company uses the input method using costs incurred to date relative to total estimated costs at completion to measure the progress toward satisfaction of the performance obligation. Revenues are recorded proportionally as costs are incurred. Costs include labor, material and overhead. The estimation of the progress toward completion is subject to various assumptions. As part of the estimation process, the Company reviews the length of time to complete the performance obligation, the cost of materials and labor productivity. If a significant change in one of the assumptions occurs, then the Company will recognize an adjustment under the cumulative catch-up method and the impact of the adjustment on the revenue recorded to date is recognized in the period the adjustment is identified. Refer to Note 24 for additional information regarding the Company’s sources of revenue and associated contract liabilities and performance obligations. Research and Development Expenses Research and development expenses are expensed as incurred and are included in “Engineering expenses” in the Company’s Consolidated Statements of Operations. Research and development expenses for the years ended December 31, 2025, 2024 and 2023 totaled approximately $374.5 million, $381.3 million and $420.9 million, respectively. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 60

Advertising Costs The Company expenses all advertising costs as incurred. Cooperative advertising costs normally are expensed at the time the revenue is earned. Advertising expenses for the years ended December 31, 2025, 2024 and 2023 totaled approximately $40.9 million, $53.4 million and $56.4 million, respectively. Shipping and Handling Expenses All shipping and handling fees charged to customers are included as a component of net sales, and are associated with freight activities after the customer has obtained control. Shipping and handling costs are accounted for as fulfillment costs and are expensed at the time revenue is recognized within “Cost of goods sold,” with the exception of certain handling costs included in “Selling, general and administrative expenses” in the amount of $53.7 million, $54.5 million and $52.2 million for the years ended December 31, 2025, 2024 and 2023, respectively. Interest Expense, Net Interest expense, net for the years ended December 31, 2025, 2024 and 2023 consisted of the following (in millions): 2025 2024 2023 Interest expense .................................................................................................................. $ 123.0 $ 159.3 $ 68.8 Interest income ................................................................................................................... (56.6) (66.3) (64.2) $ 66.4 $ 93.0 $ 4.6 Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. A valuation allowance is established when it is more likely than not that some portion or all of the deferred tax assets may not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rate on deferred tax assets and liabilities is recognized in income in the period of the enactment date. See Note 19 for additional information regarding the Company’s income taxes. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 61

Comprehensive Income (Loss) The Company reports comprehensive income (loss), defined as the total of net income (loss) and all other non-owner changes in equity, and the components thereof in its Consolidated Statements of Stockholders’ Equity and Consolidated Statements of Comprehensive Income (Loss). The components of other comprehensive income (loss) and the related tax effects for the years ended December 31, 2025, 2024 and 2023 are as follows (in millions): AGCO Corporation Redeemable Noncontrolling Interests 2025 2025 Before-tax Amount Income Taxes After-tax Amount After-tax Amount Defined pension and postretirement benefit plans ................. $ (6.7) $ 2.1 $ (4.6) $ — Deferred gains and losses on derivatives ............................... (7.1) 1.4 (5.7) — Foreign currency translation adjustments .............................. 138.3 — 138.3 6.6 Total components of other comprehensive income ............... $ 124.5 $ 3.5 $ 128.0 $ 6.6 AGCO Corporation Redeemable and Nonredeemable Noncontrolling Interests 2024 2024 Before-tax Amount Income Taxes After-tax Amount After-tax Amount Defined pension and postretirement benefit plans ................. $ 26.7 $ (6.9) $ 19.8 $ — Deferred gains and losses on derivatives ............................... 13.0 (3.3) 9.7 — Foreign currency translation adjustments .............................. (224.3) — (224.3) (2.3) Total components of other comprehensive loss ..................... $ (184.6) $ (10.2) $ (194.8) $ (2.3) AGCO Corporation Noncontrolling Interests 2023 2023 Before-tax Amount Income Taxes After-tax Amount After-tax Amount Defined pension and postretirement benefit plans ................. $ (10.0) $ 2.6 $ (7.4) $ — Deferred gains and losses on derivatives ............................... (0.3) 0.4 0.1 — Foreign currency translation adjustments .............................. 102.3 — 102.3 — Total components of other comprehensive income ................ $ 92.0 $ 3.0 $ 95.0 $ — Derivatives The Company uses derivative and non-derivative instruments to manage its exposure to market risks, such as changes in foreign currency exchange rates, commodity prices and interest rates. The Company does not enter into derivative transactions for speculative purposes. The Company's derivative instruments are recognized as either assets or liabilities on the Consolidated Balance Sheets and measured at fair value. The accounting for changes in the fair value of each derivative financial instrument depends on whether it has been designated and qualifies as an accounting hedge, as well as the type of hedging relationship identified. Refer to Note 14 for additional information regarding the Company’s derivative instruments and hedging activities. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 62

Leases The Company leases certain land, buildings, machinery, equipment, vehicles and office and computer equipment under finance and operating leases. The Company accounts for these leases pursuant to ASU 2016-02, “Leases”. Under the standard, lessees are required to record an asset (a right-of-use “ROU” asset or finance lease asset) and a lease liability. ROU assets represent the Company’s right to use an underlying asset during the lease term while lease liabilities represent the Company’s obligation to make lease payments during the lease term. The standard allows for two types of leases for income statement recognition purposes: operating leases and finance leases. Operating leases result in the recognition of a single lease expense on a straight-line basis over the lease term whereas finance leases result in an accelerated expense. ASU 2016-02 also contains guidance regarding the identification of embedded leases in service and supply contracts, as well as the identification of lease and nonlease components of an arrangement. All leases greater than 12 months result in the recognition of an ROU asset and liability at the lease commencement date based on the present value of the lease payments over the lease term. The present value of the lease payments is calculated using the applicable weighted-average discount rate. The weighted-average discount rate is based on the discount rate implicit in the lease, or if the implicit rate is not readily determinable from the lease, then the Company estimates an applicable incremental borrowing rate. The incremental borrowing rate is estimated using the currency denomination of the lease, the contractual lease term and the Company’s applicable borrowing rate. The Company does not recognize an ROU asset or lease liability with respect to operating leases with an initial term of 12 months or less and recognizes expense on such leases on a straight-line basis over the lease term. The Company accounts for lease components separately from nonlease components other than for real estate and office equipment. The Company evaluates its supplier agreements for the existence of leases and determined these leases comprised an insignificant portion of its supplier agreements. As such, these leases were not material to the Company’s Consolidated Balance Sheets. The Company has certain leases that contain one or more options to terminate or renew that can extend the lease term up to 13 years. Options that the Company is reasonably certain to exercise are included in the lease term. The depreciable life of ROU assets and leasehold improvements are limited by the expected lease term. The Company has certain lease agreements that include variable rental payments that are adjusted periodically for inflation based on the index rate as defined by the applicable government authority. Generally, the Company’s lease agreements do not contain any residual value guarantees or restrictive covenants. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13 “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected versus incurred credit losses for financial assets. In November 2019, the FASB issued ASU 2019-10, “Financial Instruments - Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates,” which delays the effective date of ASU 2016-13 for smaller reporting companies and other non-SEC reporting entities. This delay applies to the Company’s equity method finance joint ventures, which were required to adopt ASU 2016-13 for annual periods beginning after December 15, 2022 and interim periods within those annual periods. The standard, and its subsequent modification, impacts the results of operations and financial condition of the Company’s finance joint ventures. For the adoption of the standard by the Company’s finance joint ventures on January 1, 2023 under the modified retrospective approach, the Company recognized the cumulative effect of ASU 2016-13 as an adjustment to the opening balance of stockholders’ equity as of January 1, 2023 within “Retained earnings.” The cumulative effect was a reduction of approximately $5.5 million. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” which expands annual and interim disclosure requirements and requires entities to disclose its significant segment expense categories and amounts for each reportable segment. The ASU is effective for public entities for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted the new standard effective December 31, 2024. Refer to Note 25 for further details. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The requirements will be effective for annual periods beginning after December 15, 2024, and may be applied prospectively or retrospectively. Early adoption is permitted. The Company adopted the new standard prospectively for the period ending December 31, 2025. Refer to Note 19 for further details. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 63

New Accounting Pronouncements to be Adopted In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which requires disaggregation of certain expense captions into specified natural expense categories in the disclosures within the notes to the consolidated financial statements. In addition, the guidance requires disclosure of selling expenses and its definition. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The ASU will be applied prospectively with an option to simultaneously apply retrospectively. The updated standard will impact only our disclosures, with no impact to our financial condition or results of operations. 2. ACQUISITIONS On September 28, 2023, the Company entered into a Sale and Contribution Agreement among AGCO, Trimble Inc. (“Trimble”) and PTx Trimble, LLC (“PTx Trimble” or the “Joint Venture”), formerly known as Trimble Solutions, LLC, which was subsequently amended and restated on March 31, 2024. On April 1, 2024, pursuant to the terms of an Amended and Restated Sale and Contribution Agreement (the “Agreement”), AGCO and Trimble completed (i) the contribution by Trimble to the Joint Venture of Trimble’s OneAg business (“OneAg”), which is Trimble’s agricultural business, excluding certain Global Navigation Satellite System and guidance technologies, and $8.1 million of cash, (ii) the contribution by AGCO to the Joint Venture of its interest in JCA Industries, LLC d/b/a JCA Technologies and $46.0 million of cash, and (iii) the purchase by AGCO from Trimble of membership interests in the Joint Venture in exchange for the payment by AGCO to Trimble of $1,954.0 million in cash, subject to customary working capital and other adjustments. Immediately following the closing and as a result of the transaction, AGCO directly and indirectly owns an 85% interest in the Joint Venture and Trimble owns a 15% interest in the Joint Venture. The purchase price was funded using net proceeds from the issuance of Senior Notes due 2027 and 2034, a term loan facility and the remainder through other borrowings and cash on hand. Refer to Note 12 for further information. AGCO began consolidating PTx Trimble within its consolidated financial statements on April 1, 2024. The Company accounted for the Joint Venture transaction as a business combination using the acquisition method of accounting which requires assets acquired and liabilities assumed to be recorded at their acquisition date fair value. The Company allocated the purchase price of the acquisition to identified assets acquired, liabilities assumed, and noncontrolling interests based on their estimated fair values as of the acquisition date. The excess of the purchase price over the aggregate fair values was recorded as goodwill. The Company calculated the fair value of the assets acquired using the income, market or cost approach (or a combination thereof). Fair values of certain assets were determined based on Level 3 inputs, including estimated future cash flows, discount rates, royalty rates, growth rates and sales projections, all of which require significant management judgment and are susceptible to change. The goodwill consists of expected future economic benefits that will arise from expected future product sales, operating efficiencies and sales channel synergies that may result from the Joint Venture. The Company has deducted the portion of the goodwill balance allocated to the U.S. business for tax purposes, whereas the goodwill allocated to the Joint Venture’s investments in foreign subsidiaries, primarily in Germany and France, was not deductible for tax purposes. The goodwill arising from the Joint Venture has been assigned to four new reporting units within our North America, South America, Europe/Middle East and Asia/Pacific/Africa operating segments. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 64

The purchase consideration transferred consisted of the following (in millions): Purchase Consideration Total cash consideration for OneAg ............................................................................................ $ 1,954.0 Working capital and other adjustments ........................................................................................ (47.1) Equity transaction associated with JCA noncontrolling interest (a) ............................................ 3.1 Total purchase consideration ....................................................................................................... $ 1,910.0 (a) Equity transaction associated with JCA noncontrolling interest The transfer of the 15% interest in AGCO's JCA business was accounted for as an equity transaction. The adjustment to additional paid-in-capital represents the excess of the fair value of the JCA business transferred over its historical carrying amount. The fair value of the JCA business was determined using a discounted cash flow model. The fair values of the assets acquired, liabilities assumed and noncontrolling interests as of the acquisition date are presented in the following table (in millions): As of April 1, 2024 Cash ........................................................................................................................................................... $ 6.3 Accounts receivable .................................................................................................................................. 12.3 Inventories ................................................................................................................................................. 62.6 Other current assets ................................................................................................................................... 6.0 Property, plant and equipment .................................................................................................................. 21.6 Deferred tax assets .................................................................................................................................... 0.1 Right-of-use lease assets ........................................................................................................................... 2.4 Other assets (non-current) ......................................................................................................................... 0.1 Intangible assets ........................................................................................................................................ 624.6 Goodwill .................................................................................................................................................... 1,592.2 Total assets acquired ............................................................................................................................... $ 2,328.2 Accounts payable ...................................................................................................................................... $ 5.8 Accrued expenses ...................................................................................................................................... 11.2 Other current liabilities ............................................................................................................................. 14.0 Operating lease liabilities .......................................................................................................................... 1.6 Deferred tax liabilities ............................................................................................................................... 18.0 Other noncurrent liabilities ....................................................................................................................... 12.5 Total liabilities assumed ......................................................................................................................... $ 63.1 Redeemable noncontrolling interests (b) .................................................................................................. $ 355.1 Net assets acquired ............................................................................................................................. $ 1,910.0 (b) Redeemable noncontrolling interests Trimble has a put option to sell its noncontrolling interests to the Company, and the Company has a call option to redeem Trimble's noncontrolling interests. The first exercisable date of both the put and call options is April 1, 2027. The put and call options prices are based on multiples of EBITDA, subject to the terms of the Agreement. We estimated the fair value of the put and call options using a Monte Carlo simulation along with a Black Scholes model assuming an exercise date of three years from the close of the transaction, the first allowable exercise date. We evaluated the put and call options for the redeemable noncontrolling interests under ASC 480, Distinguishing Liabilities from Equity, and classified the redeemable AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 65

noncontrolling interests as mezzanine equity based on its redemption features. The amount of the net income or loss attributable to the redeemable noncontrolling interests is recorded in “Net loss attributable to noncontrolling interests” within the Company's Consolidated Statements of Operations. To the extent the redemption value exceeds the initial fair value recorded, the Company will recognize the entire change in the redemption amount each reporting period in retained earnings. The acquired identifiable intangible assets of OneAg as of the date of the acquisition are summarized in the following table (in millions): Fair Value Useful Life(1) Developed Technology .................................................................................... $ 526.0 7 - 15 years Customer Relationships ................................................................................... 47.3 20 years Trade name ....................................................................................................... 6.5 5 years Favorable contracts .......................................................................................... 44.8 2 - 7 years $ 624.6 ____________________________________ (1) Based on available information and certain assumptions that we believe were reasonable. The following unaudited pro forma financial information presents the consolidated results of operations as if the OneAg acquisition had occurred on January 1, 2023. OneAg's pre-acquisition results have been added to the Company's historical results. The pro forma results (in millions) contained in the table below include adjustments for (i) the elimination of sales between the Company and OneAg, (ii) amortization of acquired intangible assets, (iii) interest expense and amortization of debt issuance costs related to borrowings under the Senior Notes due 2027 and 2034 and term loan facility and (iv) transaction- related costs as if these had been incurred on January 1, 2023 for the periods ending December 31, 2024 and 2023, respectively. Years Ended December 31, 2024 2023 Unaudited Consolidated Pro Forma Results Net sales .................................................................................................................................... $ 11,745.3 $ 14,895.7 Net income (loss) attributable to AGCO Corporation .............................................................. (423.8) 1,119.7 These pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the results of operations as they would have been had the acquisitions occurred on the assumed dates, nor are they necessarily an indication of future operating results. The amounts of PTx Trimble's net sales and net loss attributable to AGCO Corporation consolidated by the Company since the acquisition date through December 31, 2024 were $171.3 million and $350.9 million, respectively. During the years ended December 31, 2024 and 2023, transaction-related costs of approximately $23.1 million and $16.0 million were expensed as incurred to “Selling, general and administrative expenses” in the Company's Consolidated Statements of Operations, respectively. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 66

3. BUSINESS DIVESTITURE On July 25, 2024, the Company entered into a Stock and Asset Purchase Agreement to sell the majority of its Grain & Protein (“G&P”) business, which includes the GSI®, Automated Production® (AP), Cumberland®, Cimbria® and Tecno® brands for a purchase price of $700.0 million, subject to customary working capital and other adjustments. On November 1, 2024, the Company completed the sale of the G&P business to A-AG Holdco Limited, an affiliate of American Industrial Partners. The Company previously classified the G&P business as held for sale as of June 30, 2024. The Company determined the sale of the G&P business did not represent a strategic shift that had or will have a major effect on the consolidated results of operations, and therefore results of this business were not classified as discontinued operations. The results of the G&P business through the date of the divestiture are included within our North America, South America, Europe/Middle East and Asia/ Pacific/Africa segments. The Company received net proceeds of $630.7 million on the transaction date, which was subject to the finalization of preliminary working capital and other adjustments, and recognized a loss on the sale of business of $507.3 million. The loss on sale of business included $93.6 million of cumulative translation adjustment losses representing amounts previously recorded in accumulated other comprehensive loss. In May 2025, the preliminary working capital and other adjustments were finalized resulting in an additional loss of $12.3 million which is included within “Loss on sale of business” in the Company's Consolidated Statements of Operations. The proceeds from the sale were used to repay the Term Loan Facility and reduce borrowings under the Credit Facility in 2024. Refer to Note 12 for further information. The major categories of divested assets and liabilities as of the date of the divestiture were as follows (in millions): Assets divested Cash and cash equivalents ...................................................................................................................... $ 25.0 Accounts and notes receivable, net ........................................................................................................ 170.2 Inventories, net ....................................................................................................................................... 171.6 Other current assets ................................................................................................................................ 21.6 Total current assets ............................................................................................................................... 388.4 Property, plant and equipment, net ........................................................................................................... 101.8 Right-of-use lease assets ........................................................................................................................... 15.2 Other assets ............................................................................................................................................... 16.5 Intangible assets, net ................................................................................................................................. 113.7 Goodwill ................................................................................................................................................... 203.6 Total assets ........................................................................................................................................... $ 839.2 Liabilities divested Accounts payable ................................................................................................................................... $ 90.4 Accrued expenses ................................................................................................................................... 98.4 Other current liabilities ........................................................................................................................... 54.7 Total current liabilities ......................................................................................................................... 243.5 Deferred tax liabilities .............................................................................................................................. 8.3 Operating lease liabilities .......................................................................................................................... 10.5 Other noncurrent liabilities ....................................................................................................................... 5.2 Total liabilities ...................................................................................................................................... $ 267.5 Disposal group, net ................................................................................................................................... $ 571.7 AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 67

4. PROPERTY, PLANT, AND EQUIPMENT Property, plant, and equipment, net at December 31, 2025 and 2024 consisted of the following (in millions): 2025 2024 Land ................................................................................................................................................. $ 162.5 $ 141.8 Buildings and improvements ........................................................................................................... 1,128.0 998.3 Machinery and equipment ............................................................................................................... 3,339.2 2,916.4 Furniture and fixtures ....................................................................................................................... 235.2 206.6 Gross property, plant and equipment ............................................................................................... 4,864.9 4,263.1 Accumulated depreciation and amortization ................................................................................... (2,868.7) (2,444.5) Property, plant and equipment, net .................................................................................................. $ 1,996.2 $ 1,818.6 5. ACCOUNTS RECEIVABLE SALES AGREEMENTS The Company has accounts receivable sales agreements that permit the sale, on an ongoing basis, of a majority of its wholesale receivables in North America, Europe and Brazil to its U.S., Canadian, European and Brazilian finance joint ventures. The cash received from receivables sold under these accounts receivable sales agreements that remain outstanding as of December 31, 2025 and 2024 was approximately $2.1 billion and $2.3 billion, respectively. Under the terms of the accounts receivable sales agreements in the U.S., Canada, Europe and Brazil, the Company pays an annual fee to its finance joint ventures related to the servicing of the receivables sold. The Company also pays the respective AGCO Finance entities a subsidized interest payment with respect to the accounts receivable sales agreements, calculated based upon the interest rate charged by Rabobank to its affiliate, and such affiliate then lends to the AGCO Finance entities plus an agreed-upon margin. These fees are reflected within losses on the sales of receivables included within “Other expense (income), net” in the Company’s Consolidated Statements of Operations. The Company does not service the receivables after the sale occurs and does not maintain any direct retained interest in the receivables. The Company reviewed its accounting for the accounts receivable sales agreements and determined that receivables sold under these agreements should be accounted for as off-balance sheet transactions. In addition, the Company sells certain trade receivables under factoring arrangements to other financial institutions around the world. The cash received from trade receivables sold under factoring arrangements that remain outstanding as of December 31, 2025 and 2024 was approximately $270.5 million and $220.5 million, respectively. Under these arrangements, the Company is required to continue to service the sold receivables at market rates. The Company does not maintain any direct retained interest in the receivables. The Company reviewed its accounting for the accounts receivable sales agreements and determined that receivables sold under these agreements should be accounted for as off-balance sheet transactions. Losses on sales of receivables associated with the accounts receivable sales agreements discussed above, reflected within “Other expense (income), net” in the Company’s Consolidated Statements of Operations, were approximately $90.3 million, $118.2 million and $148.4 million during 2025, 2024 and 2023, respectively. The Company’s finance joint ventures in Europe, Brazil and Australia also provide wholesale financing directly to the Company’s dealers. As of December 31, 2025 and 2024, these finance joint ventures had approximately $107.5 million and $139.2 million, respectively, of outstanding accounts receivable associated with these arrangements. In certain foreign countries, the Company invoices its finance joint ventures directly and the finance joint ventures retain a form of title to the goods delivered to dealers until the dealer makes payment so that the finance joint ventures can recover the goods in the event of dealer or end customer default on payment. This occurs as the laws of some foreign countries do not provide for a seller’s retention of a security interest in goods in the same manner as established in the United States Uniform Commercial Code. The only right the finance joint ventures retain with respect to the title are those enabling recovery of the goods in the event of customer default on payment. The dealer or distributor may not return equipment or replacement parts to the Company while its contract with the finance joint venture is in force, and can only return the equipment to the retail finance joint venture with penalties that would generally not make it economically beneficial to do so. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 68

6. GOODWILL AND OTHER INTANGIBLE ASSETS Changes in the carrying amount of goodwill during the years ended December 31, 2025 and 2024 are summarized as follows (in millions): North America South America Europe/ Middle East Asia/ Pacific/Africa Consolidated Balance as of December 31, 2023 ..................... $ 668.2 $ 93.5 $ 458.5 $ 113.2 $ 1,333.4 Acquisitions ...................................................... 955.6 32.5 592.4 20.4 1,600.9 Impairment charge ............................................ (354.1) — — — (354.1) Divestiture(1) ...................................................... (523.9) (12.4) (61.4) (113.2) (710.9) Foreign currency translation ............................. (3.0) (18.7) (27.2) — (48.9) Balance as of December 31, 2024 ..................... 742.8 94.9 962.3 20.4 1,820.4 Foreign currency translation ............................. 1.5 7.6 69.3 — 78.4 Balance as of December 31, 2025 ..................... $ 744.3 $ 102.5 $ 1,031.6 $ 20.4 $ 1,898.8 _________________________________ (1) Divestiture resulting from the Company's sale of the majority of the G&P business, $507.3 million is included within “Loss on sale of business” in the Company’s Consolidated Statements of Operations and $203.6 million was divested. Refer to Note 3 for additional information. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 69

Changes in the carrying amount of acquired intangible assets during 2025 and 2024 are summarized as follows (in millions): Gross Carrying Amounts Trademarks and Trade Names Customer Relationships Patents and Technology Other Total Balance as of December 31, 2023 ................ $ 194.3 $ 580.7 $ 148.2 $ 6.3 $ 929.5 Acquisitions .................................................. 6.5 47.3 526.0 44.8 624.6 Divestiture ..................................................... (122.7) (434.4) (59.2) — (616.3) Foreign currency translation ......................... (3.0) (14.5) (10.3) (0.2) (28.0) Balance as of December 31, 2024 ................ 75.1 179.1 604.7 50.9 909.8 Impairment charge ........................................ (1.6) — (0.6) — (2.2) Foreign currency translation ......................... 2.1 12.1 16.9 0.3 31.4 Balance as of December 31, 2025 ................ $ 75.6 $ 191.2 $ 621.0 $ 51.2 $ 939.0 Accumulated Amortization Trademarks and Trade Names Customer Relationships Patents and Technology Other Total Balance as of December 31, 2023 ................ $ 114.5 $ 483.4 $ 113.3 $ 1.7 $ 712.9 Amortization expense ................................... 7.4 23.0 37.2 13.4 81.0 Divestiture ..................................................... (74.2) (383.7) (49.3) — (507.2) Foreign currency translation ......................... (2.1) (13.1) (6.2) (0.2) (21.6) Balance as of December 31, 2024 ................ 45.6 109.6 95.0 14.9 265.1 Amortization expense ................................... 4.2 7.0 54.6 5.3 71.1 Impairment charge ........................................ (1.2) — (0.4) — (1.6) Foreign currency translation ......................... 1.9 10.3 7.0 — 19.2 Balance as of December 31, 2025 ................ $ 50.5 $ 126.9 $ 156.2 $ 20.2 $ 353.8 Indefinite-Lived Intangible Assets Trademarks and Trade Names Balance as of December 31, 2023 ......................................................................................................................... $ 85.9 Foreign currency translation .................................................................................................................................. (2.1) Balance as of December 31, 2024 ......................................................................................................................... 83.8 Foreign currency translation .................................................................................................................................. 4.0 Balance as of December 31, 2025 ......................................................................................................................... $ 87.8 For the years ended December 31, 2025, 2024 and 2023, amortization expense related to acquired intangible assets was $71.1 million, $81.0 million and $57.7 million, respectively. The Company estimates amortization of existing intangible assets will be $67.8 million in 2026, $61.1 million in 2027, $54.5 million in 2028, $51.7 million in 2029 and $50.6 million in 2030. External-use software, net, developed by the Company and marketed externally, was approximately $0.4 million as of December 31, 2024 and classified within “Intangible assets, net.” Additionally, $4.6 million of external-use software, net was divested as part of the sale of the majority of the Company's G&P business. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 70

7. ACCRUED EXPENSES Accrued expenses at December 31, 2025 and 2024 consisted of the following (in millions): 2025 2024 Reserve for volume discounts and sales incentives ..................................................................... $ 927.2 $ 961.1 Warranty reserves ........................................................................................................................ 626.6 598.7 Accrued employee compensation and benefits ............................................................................ 366.3 245.0 Accrued taxes .............................................................................................................................. 249.8 239.5 Accrued restructuring expenses ................................................................................................... 56.9 125.2 Other ............................................................................................................................................ 311.9 300.1 Balance at the end of the year ...................................................................................................... $ 2,538.7 $ 2,469.6 8. INVENTORIES Inventories, net at December 31, 2025 and 2024 were as follows (in millions): 2025 2024 Finished goods ............................................................................................................................. $ 1,070.6 $ 1,187.9 Repair and replacement parts ...................................................................................................... 824.6 754.6 Work in process ........................................................................................................................... 181.9 170.0 Raw materials .............................................................................................................................. 632.2 618.8 Inventories, net ............................................................................................................................ $ 2,709.3 $ 2,731.3 At December 31, 2025 and 2024, the Company had recorded $271.9 million and $251.1 million, respectively, as a reserve for surplus and obsolete inventories. These reserves are reflected within “Inventories, net” within the Company’s Consolidated Balance Sheets. 9. PRODUCT WARRANTY The warranty reserve activity for the years ended December 31, 2025, 2024 and 2023, including deferred revenue associated with the Company's extended warranties that have been sold, was as follows (in millions): 2025 2024 2023 Balance at beginning of the year ...................................................................... $ 743.0 $ 800.8 $ 640.0 Acquisitions ...................................................................................................... — 4.1 — Accruals for warranties issued ......................................................................... 413.5 396.3 464.9 Settlements made and deferred revenue recognized ........................................ (415.2) (401.0) (328.7) Divestiture ........................................................................................................ — (6.2) — Foreign currency translation ............................................................................. 73.0 (51.0) 24.6 Balance at the end of the year .......................................................................... $ 814.3 $ 743.0 $ 800.8 The Company’s agricultural equipment products generally are under warranty against defects in materials and workmanship for a period of one to four years. The Company accrues for future warranty costs at the time of sale based on historical warranty experience. The Company's extended warranty period for the majority of products ranges from three to five years. Revenue is recognized for the extended warranty contracts on a straight-line basis, which the Company believes approximates the costs expected to be incurred in satisfying the obligations, over the extended warranty period. Approximately $626.6 million and $598.7 million of warranty reserves are included in “Accrued expenses” in the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively. Approximately $187.7 million and $144.3 million of warranty reserves are included in “Other noncurrent liabilities” in the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 71

The Company recognizes potential recoveries of the costs associated with warranties it provides when the collection is probable. When specifics of the recovery have been agreed upon with the Company’s suppliers through the confirmation of liability for the recovery, the Company records the recovery within “Accounts and notes receivable, net” in the Company's Consolidated Balance Sheets. Estimates of the amount of warranty claim recoveries to be received from the Company’s suppliers based upon contractual supplier arrangements are recorded within “Other current assets” in the Company's Consolidated Balance Sheets. 10. INVESTMENTS IN AFFILIATES Investments in affiliates as of December 31, 2025 and 2024 were as follows (in millions): 2025 2024 Finance joint ventures .......................................................................................................... $ 562.8 $ 471.4 Manufacturing joint venture ................................................................................................ 37.6 31.4 Other affiliates ..................................................................................................................... 9.5 16.8 $ 609.9 $ 519.6 The Company’s finance joint ventures provide retail financing and wholesale financing to its dealers. The majority of the assets of the Company’s finance joint ventures represents finance receivables. The majority of the liabilities represents notes payable and accrued interest. Under the various joint venture agreements, Rabobank or its affiliates provide financing to the joint venture companies. AGCO has a 49% interest in those finance equity joint ventures. Refer to Note 18 for further discussion of the Company's relationship with Rabobank. The Company’s manufacturing joint venture consists of Groupement International De Mecanique Agricole SAS (“GIMA”), a joint venture with a third-party manufacturer to purchase, design and manufacture components for agricultural equipment in France. The other affiliates represent investments in farm equipment manufacturers, an electronic and software system manufacturer, precision agriculture technology providers, distributors and licensees. The Company concluded it has significant influence over its finance and manufacturing joint ventures and accounted for these investments using the equity method of accounting. The Company’s equity in net earnings of affiliates for the years ended December 31, 2025, 2024 and 2023 were as follows (in millions): 2025 2024 2023 Finance joint ventures ........................................................................... $ 40.4 $ 45.2 $ 66.9 Manufacturing and other joint ventures ................................................ (0.8) 1.2 1.3 $ 39.6 $ 46.4 $ 68.2 Summarized combined financial information of the Company’s finance joint ventures as of December 31, 2025 and 2024 and for the years ended December 31, 2025, 2024 and 2023 were as follows (in millions): As of December 31, 2025 2024 Total assets ........................................................................................................................... $ 10,433.1 $ 10,036.4 Total liabilities ..................................................................................................................... 9,284.6 9,074.3 Partners’ equity .................................................................................................................... 1,148.5 962.1 AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 72

For the Years Ended December 31, 2025 2024 2023 Revenues ............................................................................................... $ 795.0 $ 791.7 $ 680.5 Costs ...................................................................................................... 717.5 672.7 468.6 Income before income taxes .................................................................. $ 77.5 $ 119.0 $ 211.9 At December 31, 2025 and 2024, the Company’s receivables from affiliates were approximately $28.1 million and $32.0 million, respectively. The receivables from affiliates are reflected within “Accounts and notes receivable, net” within the Company’s Consolidated Balance Sheets. The portion of the Company’s retained earnings balance that represents undistributed retained earnings of equity method investees was approximately $573.8 million and $461.2 million as of December 31, 2025 and 2024, respectively. The Company received dividends from certain finance joint ventures of approximately $18.3 million and $13.7 million during 2025 and 2024, respectively. There were no returns on investment in excess of earnings in 2025 and 2024, respectively. 11. SUPPLIER FINANCE PROGRAMS The Company has supplier financing arrangements with certain banks or other intermediaries whereby a bank or intermediary purchases receivables held by the Company’s suppliers. Under the program, suppliers have the option to be paid by the bank or intermediary earlier than the payment due date. When the supplier receives an early payment, they receive discounted amounts, and the Company pays the bank or intermediary the face amount of the invoice on the payment due date. The Company does not reimburse suppliers for any costs incurred for participation in the program. The Company and its suppliers agree on the contractual terms, including prices, quantities and payment terms, regardless of whether the supplier elects to participate in the supplier finance programs. The suppliers’ voluntary inclusion in the supplier financing programs has no bearing on the Company’s payment terms. The Company has no economic interest in a supplier’s decision to participate in the programs, and the Company has no direct financial relationship with the banks or other intermediaries as it relates to the supplier finance programs. As of December 31, 2025, payment terms with the majority of the Company’s suppliers are 30 to 180 days, which correspond to the contractual terms, with rates that are based on market rates (such as SOFR) plus a credit spread. There are no assets pledged as security under the programs. As of December 31, 2025 and 2024, the amounts outstanding that remain unpaid to the banks or other intermediaries totaled $31.7 million and $50.6 million, respectively, and are reflected in “Accounts payable” in the Company’s Consolidated Balance Sheets. The following table summarizes the activity of the Company’s supplier finance programs during the years ended December 31, 2025 and 2024 (in millions): 2025 2024 Balance at beginning of the year ................................................................................................. $ 50.6 $ 82.7 Amounts added to the programs .................................................................................................. 194.4 282.5 Amounts settled under the programs ........................................................................................... (213.3) (314.6) Balance at the end of the year ...................................................................................................... $ 31.7 $ 50.6 AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 73

12. INDEBTEDNESS Long-term debt consisted of the following at December 31, 2025 and 2024 (in millions): December 31, 2025 December 31, 2024 Credit Facility, expires 2027 ................................................................................................ $ — $ — 5.450% Senior notes due 2027 ............................................................................................ 400.0 400.0 5.800% Senior notes due 2034 ............................................................................................ 700.0 700.0 0.800% Senior notes due 2028 ............................................................................................ 703.8 622.7 1.002% EIB Senior term loan due 2025 .............................................................................. — 259.5 EIB Senior term loan due 2029 ............................................................................................ 293.3 259.5 EIB Senior term loan due 2030 ............................................................................................ 199.4 176.4 Senior term loans due between 2025 and 2028 ................................................................... 97.9 152.0 Debt issuance costs .............................................................................................................. (9.7) (12.0) 2,384.7 2,558.1 Less: 1.002% EIB Senior term loan due 2025 ............................................................................ — (259.5) Senior term loans due 2025 ............................................................................................... — (65.3) Senior term loans due 2026 ............................................................................................... (61.6) — Total long-term indebtedness ............................................................................................... $ 2,323.1 $ 2,233.3 At December 31, 2025, the aggregate scheduled maturities of long-term debt, excluding the current portion of long- term debt, are as follows (in millions): 2027 .................................................................................................................................................................... $ 397.2 2028 .................................................................................................................................................................... 738.6 2029 .................................................................................................................................................................... 293.0 2030 .................................................................................................................................................................... 199.3 Thereafter ............................................................................................................................................................ 695.0 $ 2,323.1 Cash payments for interest were approximately $121.9 million, $125.5 million and $60.5 million for the years ended December 31, 2025, 2024 and 2023, respectively. Credit Facility The Company has a credit facility providing for a $1.25 billion multi-currency unsecured revolving credit facility (“Credit Facility”) that matures on December 19, 2027. The Credit Facility consists of a $325.0 million United States dollar tranche and a $925.0 million multi-currency tranche for loans denominated in United States Dollars, Euros or other currencies to be agreed upon. Interest accrues on amounts outstanding for any borrowings denominated in United States dollars, at the Company’s option, at either (1) the Secured Overnight Financing Rate (“SOFR”) plus 0.1% plus a margin ranging from 0.875% to 1.875% based on the Company’s credit rating, or (2) the base rate, which is the highest of (i) the Prime Rate, (ii) the Federal Funds Effective Rate plus 0.5%, and (iii) Term SOFR for a one-month tenor plus 1.0%, plus a margin ranging from 0.000% to 0.875% based on the Company’s credit rating. Interest accrues on amounts outstanding for any borrowings denominated in Euros at the Euro Interbank Offered Rate (“EURIBOR”) plus a margin ranging from 0.875% to 1.875% based on the Company’s credit rating. In May 2025, the Company amended the Credit Facility with respect to the net leverage ratio financial covenant requirements for the remainder of 2025 and in the event of a future material acquisition. As of December 31, 2025, the AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 74

Company had no outstanding borrowings under the revolving credit facility and had the ability to borrow $1,250.0 million. Uncommitted Credit Facility The Company has an uncommitted revolving credit facility that allows the Company to borrow up to €200.0 million (or approximately $234.6 million as of December 31, 2025). The credit facility expires on December 31, 2026. Any loans will bear interest at the EURIBOR plus a credit spread. As of December 31, 2025 and December 31, 2024, the Company had no outstanding borrowings under the revolving credit facility. 5.450% Senior Notes due 2027 and 5.800% Senior Notes due 2034 On March 21, 2024, the Company issued (i) $400.0 million aggregate principal amount of 5.450% Senior Notes due 2027 (the “2027 Notes”) and (ii) $700.0 million aggregate principal amount of 5.800% Senior Notes due 2034 (the “2034 Notes”, and together with the 2027 Notes, the “Notes”). The Notes are unsecured and guaranteed on a senior unsecured basis by AGCO International Holdings B.V., AGCO International GmbH and Massey Ferguson Corp., direct and indirect subsidiaries of the Company (collectively, the “Guarantors”). The 2027 Notes mature on March 21, 2027, and interest is payable semi- annually, in arrears, at 5.450%. The 2034 Notes mature on March 21, 2034, and interest is payable semi-annually, in arrears, at 5.800%. The Notes contain covenants restricting among other things, the incurrence of certain secured indebtedness. Prior to February 21, 2027, in the case of the 2027 Notes, and December 21, 2033, in the case of the 2034 Notes, the Company may redeem the 2027 Notes and/or the 2034 Notes at its option, in whole or in part, at any time and from time to time, at the applicable “make-whole” redemption price (calculated as set forth in the Senior Note Indenture and First Supplemental Indenture and applicable series of the Notes). On or after February 21, 2027, in the case of the 2027 Notes, and December 21, 2033, in the case of the 2034 Notes, the Company may redeem the 2027 Notes or the 2034 Notes, as the case may be, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. 0.800% Senior Notes Due 2028 On October 6, 2021, the Company issued €600.0 million (or approximately $703.8 million as of December 31, 2025) of senior notes at an issue price of 99.993%. The notes mature on October 6, 2028, and interest is payable annually, in arrears, at 0.800%. The senior notes contain covenants restricting, among other things, the incurrence of certain secured indebtedness. The senior notes are subject to both optional and mandatory redemption in certain events. 1.002% European Investment Bank (“EIB”) Senior Term Loan Due 2025 On January 24, 2025, the Company repaid €250.0 million (or approximately $262.3 million) upon maturity of the EIB Senior term loan due 2025. EIB Senior Term Loans due 2029 and 2030 On September 29, 2023, the Company entered into a multi-currency Finance Contract with the EIB permitting the Company to borrow up to €250.0 million to fund up to 50% of certain investments in research, development and innovation primarily in Germany, France and Finland during the period from 2023 through 2026. On October 26, 2023, the Company borrowed €250.0 million (or approximately $293.3 million as of December 31, 2025) under the arrangement. The loan matures on October 26, 2029. The loan generally can be prepaid at any time upon the election of the Company and must be prepaid upon the occurrence of certain events. Interest is payable on the term loan at 3.980% per annum, payable semi-annually in arrears. The Company also has to fulfill financial covenants with respect to a net leverage ratio and an interest coverage ratio. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 75

On January 25, 2024, the Company entered into an additional multi-currency Finance Contract with the EIB permitting the Company to borrow up to €170.0 million, for which the proceeds will be used in a similar manner as described for the EIB Senior Term Loan due 2029 above. On February 15, 2024, the Company borrowed €170.0 million (or approximately $199.4 million as of December 31, 2025) under the arrangement. The loan matures on February 15, 2030. The loan generally can be prepaid at any time upon the election of the Company and must be prepaid upon the occurrence of certain events. Interest is payable on the term loan at 3.416% per annum, payable semi-annually in arrears. The Company also has to fulfill financial covenants with respect to a net leverage ratio and an interest coverage ratio. Senior Term Loans Due Between 2025 and 2028 In October 2016, the Company borrowed an aggregate amount of €375.0 million through a group of seven related term loan agreements, and in August 2018, the Company borrowed an additional aggregate amount of €338.0 million through a group of another seven related term loan agreements. Of the 2016 term loans, the Company repaid an aggregate amount of €322.5 million in October 2019, October 2021, April 2022 and October 2023. In August 2025, the Company repaid €63.0 million (or approximately $72.8 million) upon maturity of the Senior term loans due 2025. Of the 2018 senior loans, the Company repaid an aggregate amount of €307.0 million in August 2021, February 2022, August 2023 and August 2025. In aggregate, as of December 31, 2025, the Company had indebtedness of €83.5 million (or approximately $97.9 million as of December 31, 2025) through a group of two remaining related term loan agreements. The provisions of the term loan agreements are substantially identical, with the exception of interest rate terms and maturities. As of December 31, 2025, interest is payable in arrears on an annual basis, with interest rates ranging from 1.983% to 2.256% and maturity dates between October 2026 and August 2028. Other Short-Term Borrowings As of December 31, 2025 and 2024, the Company had short-term borrowings due within one year, excluding the current portion of long-term debt, of approximately $56.1 million and $90.4 million, respectively. Standby Letters of Credit and Similar Instruments The Company has arrangements with various banks to issue standby letters of credit or similar instruments, which guarantee the Company’s obligations for the purchase or sale of certain inventories and for potential claims exposure for insurance coverage. At December 31, 2025 and 2024, outstanding letters of credit totaled $14.0 million and $13.2 million, respectively. 13. RESTRUCTURING AND BUSINESS OPTIMIZATION EXPENSES Restructuring Expenses On June 24, 2024, the Company announced a restructuring program (the “Program”) in response to increased weakening demand in the agriculture industry. The initial phase of the Program is focused on further reducing structural costs, streamlining the Company’s workforce and enhancing global efficiencies related to changing the Company’s operating model for certain corporate and back-office functions and better leveraging technology and global centers of excellence. The Company estimated that it would incur charges for one-time termination benefits of approximately $150.0 million to $200.0 million in connection with the initial phase of the Program, primarily consisting of cash charges related to severance payments, employees benefits and related costs. The Company incurred a substantial portion of the charges by the end of fiscal year 2025. Additionally, in recent years, the Company announced and initiated several actions to rationalize employee headcount in various manufacturing facilities and administrative offices located in the U.S., Europe, South America, Africa and Asia, in order to reduce costs in response to fluctuating global market demand. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 76

Restructuring expenses activity, which relates to severance and other related costs, during the years ended December 31, 2025, 2024 and 2023 is summarized as follows (in millions): Balance as of December 31, 2022 ............................................................................................. $ 6.8 2023 provision, net of reversals ................................................................................................. 11.9 2023 cash activity ...................................................................................................................... (9.2) Foreign currency translation ...................................................................................................... (1.7) Balance as of December 31, 2023 ............................................................................................. 7.8 2024 provision, net of reversals ................................................................................................. 157.8 2024 cash activity ...................................................................................................................... (27.2) Foreign currency translation ...................................................................................................... (2.2) Balance as of December 31, 2024 ............................................................................................. 136.2 2025 provision, net of reversals ................................................................................................. 46.2 2025 cash activity ...................................................................................................................... (111.2) Foreign currency translation ...................................................................................................... 11.6 Balance as of December 31, 2025 ............................................................................................. $ 82.8 Approximately $56.9 million and $125.2 million of restructuring expenses are included in “Accrued expenses” in the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively. Approximately $25.9 million and $11.0 million of restructuring expenses are included in “Other noncurrent liabilities” in the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively. Business Optimization Expenses Business optimization expenses primarily relate to professional services costs incurred as part of the restructuring program aimed at reducing structural costs, enhancing global efficiencies by changing the Company’s operating model for certain corporate and back-office functions. During the years ended December 31, 2025 and 2024, the Company recognized approximately $36.0 million and $14.9 million, respectively, of business optimization expenses. 14. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company attempts to manage its transactional foreign exchange exposure by hedging foreign currency cash flow forecasts and commitments arising from the anticipated settlement of receivables and payables and from future purchases and sales. Where naturally offsetting currency positions do not occur, the Company hedges certain, but not all, of its exposures through the use of foreign currency contracts. The Company’s translation exposure resulting from translating the financial statements of foreign subsidiaries into United States dollars may be partially hedged from time to time. When practical, the translation impact is reduced by financing local operations with local borrowings. The Company uses floating rate and fixed rate debt to finance its operations. The floating rate debt obligations expose the Company to variability in interest payments due to changes in the EURIBOR, SOFR or other applicable benchmark interest rates. The Company believes it is prudent to limit the variability of a portion of its interest payments, and to meet that objective, the Company periodically enters into interest rate swaps to manage the interest rate risk associated with the Company’s borrowings. The Company designates interest rate contracts used to convert the interest rate exposure on a portion of the Company’s debt portfolio from a floating rate to a fixed rate as cash flow hedges, while those contracts converting the Company’s interest rate exposure from a fixed rate to a floating rate are designated as fair value hedges. To protect the value of the Company’s investment in foreign operations against adverse changes in foreign currency exchange rates, the Company from time to time, may hedge a portion of the Company’s net investment in the foreign subsidiaries by using a cross currency swap or foreign currency denominated debt. The component of the gains and losses on the Company’s net investment in the designated foreign operations driven by changes in foreign exchange rates are economically offset by movements in the fair value of the cross currency swap contracts or foreign currency denominated debt. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 77

The Company is exposed to commodity risk from steel and other raw material purchases where a portion of the contractual purchase price is linked to a variable rate based on publicly available market data. From time to time, the Company enters into cash flow hedges to mitigate its exposure to variability in commodity prices. The Company’s senior management establishes the Company’s foreign currency and interest rate risk management policies. These policies are reviewed periodically by the Finance Committee of the Company’s Board of Directors. The policies allow for the use of derivative instruments to hedge exposures to movements in foreign currency and interest rates. The Company’s policies prohibit the use of derivative instruments for speculative purposes. All derivatives are recognized on the Company’s Consolidated Balance Sheets at fair value. On the date the derivative contract is entered into, the Company designates the derivative as either (1) a cash flow hedge of a forecasted transaction, (2) a fair value hedge of a recognized liability, (3) a hedge of a net investment in a foreign operation, or (4) a non-designated derivative instrument. The Company categorizes its derivative assets and liabilities into one of three levels based on the assumptions used in valuing the asset or liability. Refer to Note 21 for a discussion of the fair value hierarchy as per the guidance in ASC 820, “Fair Value Measurements”. The Company’s valuation techniques are designed to maximize the use of observable inputs and minimize the use of unobservable inputs. Counterparty Risk The Company regularly monitors the counterparty risk and credit ratings of all the counterparties to the derivative instruments. The Company believes that its exposures are appropriately diversified across counterparties and that these counterparties are creditworthy financial institutions. There have been no negative impacts to the Company from any non- performance of any counterparties. Derivative Transactions Designated as Hedging Instruments Cash Flow Hedges Foreign Currency Contracts The Company uses cash flow hedges to minimize the variability in cash flows of assets or liabilities or forecasted transactions caused by fluctuations in foreign currency exchange rates. The changes in the fair values of these cash flow hedges are recorded in accumulated other comprehensive loss and are subsequently reclassified into “Cost of goods sold” during the period the sales and purchases are recognized. These amounts offset the effect of the changes in foreign currency rates on the related sale and purchase transactions. The Company designates certain foreign currency contracts as cash flow hedges of expected future sales and purchases. The total notional value of derivatives that were designated as cash flow hedges was $210.8 million, $356.7 million and $262.2 million as of December 31, 2025, 2024 and 2023, respectively. Steel Commodity Contracts The Company designates certain steel commodity contracts as cash flow hedges of expected future purchases of steel. The Company did not have any derivatives that were designated as cash flow hedges related to steel commodity contracts as of December 31, 2025 and 2024, respectively. The total notional value of derivatives that were designated as cash flow hedges was approximately $2.5 million as of December 31, 2023. Interest Rate Risk The Company entered into treasury rate locks in early March 2024 to fix the interest rate for the 2034 Notes issued on March 21, 2024. The derivative position settled on March 28, 2024 with a cash settlement that offset changes in the benchmark treasury rate between the execution of the treasury rate lock and the debt pricing date for the 2034 Notes. This treasury rate lock was designated as a cash flow hedge and the gain at termination of $8.2 million was recognized in accumulated other AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 78

comprehensive loss. The amount recognized in accumulated other comprehensive loss is reclassified to interest expense as interest payments are made on the 2034 Notes through the maturity date. The following table summarizes the activity in accumulated other comprehensive loss related to the derivatives held by the Company during the years ended December 31, 2025, 2024 and 2023 (in millions): Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount Accumulated derivative net losses as of December 31, 2022 ................................ $ (1.0) $ (0.1) $ (0.9) Net changes in fair value of derivatives: Foreign currency contracts ................................................................................... (11.8) (2.7) (9.1) Commodity contracts ........................................................................................... 0.3 0.1 0.2 Total ................................................................................................................... (11.5) (2.6) (8.9) Net losses reclassified from accumulated other comprehensive loss into income: Foreign currency contracts ................................................................................... 11.1 2.2 8.9 Commodity contracts ........................................................................................... 0.1 — 0.1 Total ................................................................................................................... 11.2 2.2 9.0 Accumulated derivative net losses as of December 31, 2023 ................................ $ (1.3) $ (0.5) $ (0.8) Net changes in fair value of derivatives: Foreign currency contracts ................................................................................... (1.2) 1.2 (2.4) Commodity contracts ........................................................................................... (0.3) — (0.3) Treasury rate locks ............................................................................................... 8.2 2.1 6.1 Total ................................................................................................................. 6.7 3.3 3.4 Net losses (gains) reclassified from accumulated other comprehensive loss into income: Foreign currency contracts ................................................................................... 6.7 0.3 6.4 Commodity contracts ........................................................................................... 0.3 — 0.3 Treasury rate locks ............................................................................................... (0.7) (0.3) (0.4) Total ................................................................................................................. 6.3 — 6.3 Accumulated derivative net gains as of December 31, 2024 .................................. $ 11.7 $ 2.8 $ 8.9 Net changes in fair value of derivatives: Foreign currency contracts(1) ................................................................................. 1.2 0.4 0.8 Total ................................................................................................................. 1.2 0.4 0.8 Net gains reclassified from accumulated other comprehensive loss into income: Foreign currency contracts(1) ................................................................................. (7.5) (1.6) (5.9) Treasury rate locks ............................................................................................... (0.8) (0.2) (0.6) Total ................................................................................................................. (8.3) (1.8) (6.5) Accumulated derivative net gains as of December 31, 2025 .................................. $ 4.6 $ 1.4 $ 3.2 ____________________________________ (1) The outstanding contracts as of December 31, 2025 range in maturity through December 2026. As of December 31, 2025, approximately $0.4 million of realized derivative net gains, before taxes, remain in accumulated other comprehensive loss related to foreign currency contracts associated with inventory that had not yet been sold. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 79

Net Investment Hedges The Company uses non-derivative and derivative instruments, to hedge a portion of its net investment in foreign operations against adverse movements in exchange rates. For instruments that are designated as hedges of net investments in foreign operations, changes in the fair value of the derivative instruments are recorded in foreign currency translation adjustments, a component of accumulated other comprehensive loss, to offset changes in the value of the net investments being hedged. When the net investment in foreign operations is sold or substantially liquidates, the amounts recorded in accumulated other comprehensive loss are reclassified to earnings. To the extent foreign currency denominated debt is de-designated from a net investment hedge relationship, changes in the value of the foreign currency denominated debt are recorded in earnings through the maturity date. On January 29, 2021, the Company entered into a cross currency swap contract as a hedge of its net investment in foreign operations to offset foreign currency translation gains or losses on the net investment. The cross currency swap had an expiration date of January 29, 2028. At maturity of the cross currency swap contract, the Company was expected to deliver the notional amount of approximately €247.9 million and receive $300.0 million from the counterparties. The Company received quarterly interest payments from the counterparties based on a fixed interest rate until maturity of the cross currency swap. On November 4, 2024, the Company's existing cross currency swap contract was terminated and the Company delivered the notional amount of approximately $277.4 million and received $300.0 million from the counterparties, resulting in a gain of approximately $22.6 million that was recognized in accumulated other comprehensive loss. On November 4, 2024, the Company entered into $600.0 million cross currency swap contracts comprising of $200.0 million tranche for three years tenor, $200.0 million tranche for five years tenor and $200.0 million tranche for seven years tenor as a hedge of its net investment in foreign operations to offset foreign currency translation gains or losses on the net investment. The cross currency swap contracts have an expiration date of November 6, 2027, November 6, 2029 and November 6, 2031, respectively. At maturity of the cross currency swap contract, the Company is expected to deliver the notional amount of approximately €385.5 million (or approximately $452.2 million as of December 31, 2025) and Fr.155.5 million (or approximately $196.1 million as of December 31, 2025), respectively, and receive $600.0 million from the counterparties. The Company receives quarterly interest payments from the counterparties based on a fixed interest rate until maturity of the cross currency swap. During 2023, the Company designated €150.0 million of its multi-currency revolving credit facility maturing in December 2027 as a hedge of its net investment in foreign operations to offset foreign currency translation gains or losses on the net investment. The Company recognized the change in fair value of the foreign currency denominated debt designated as a net investment hedge, a loss of $3.1 million, net of tax, in other comprehensive income during the year ended December 31, 2023. This portion of the multi-currency revolving credit facility was repaid in December 2023. The following table summarizes the notional values of the instrument designated as a net investment hedge (in millions): Notional Amount as of December 31, 2025 December 31, 2024 Cross currency swap contracts ................................................................................. $ 600.0 $ 600.0 The following table summarizes the changes in the fair value of the cross currency swap contracts designated as a net investment hedge during the years ended December 31, 2025, 2024 and 2023 (in millions): Gain (Loss) Recognized in Other Comprehensive Income (Loss) for the Years Ended Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount December 31, 2025 .................................................................................... $ (53.4) $ (13.7) $ (39.7) December 31, 2024 .................................................................................... (4.1) (1.1) (3.0) December 31, 2023 .................................................................................... (12.7) (3.3) (9.4) AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 80

Derivative Transactions Not Designated as Hedging Instruments The Company enters into foreign currency contracts to economically hedge receivables and payables on the Company and its subsidiaries’ balance sheets that are denominated in foreign currencies other than the functional currency. These contracts were classified as non-designated derivative instruments. Gains and losses on such contracts are substantially offset by losses and gains on the remeasurement of the underlying asset or liability being hedged and are immediately recognized into earnings. As of December 31, 2025 and 2024, the Company had outstanding foreign currency contracts with a notional amount of approximately $2,865.7 million and $3,231.2 million, respectively. The following table summarizes the results on net income (loss) of derivatives not designated as hedging instruments (in millions): Gain (Loss) Recognized in Net Income (Loss) for the Years Ended Classification of Gain (Loss) December 31, 2025 December 31, 2024 December 31, 2023 Foreign currency contracts ............................... Other expense (income), net $ 24.3 $ (49.3) $ 29.9 The table below sets forth the fair value of derivative instruments as of December 31, 2025 (in millions): Asset Derivatives as of December 31, 2025 Liability Derivatives as of December 31, 2025 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivative instruments designated as hedging instruments: Foreign currency contracts .......................... Other current assets $ 0.8 Other current liabilities $ 2.5 Cross currency swap contracts .................... Other noncurrent assets — Other noncurrent liabilities 37.2 Derivative instruments not designated as hedging instruments: Foreign currency contracts(1) ....................... Other current assets 19.4 Other current liabilities 8.7 Total derivative instruments ................... $ 20.2 $ 48.4 ____________________________________ (1) The outstanding contracts as of December 31, 2025 range in maturity through February 2026. The table below sets forth the fair value of derivative instruments as of December 31, 2024 (in millions): Asset Derivatives as of December 31, 2024 Liability Derivatives as of December 31, 2024 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivative instruments designated as hedging instruments: Foreign currency contracts .......................... Other current assets $ 3.7 Other current liabilities $ 1.6 Cross currency swap contracts .................... Other noncurrent assets 16.2 Other noncurrent liabilities — Derivative instruments not designated as hedging instruments: Foreign currency contracts .......................... Other current assets 26.1 Other current liabilities 12.6 Total derivative instruments ................... $ 46.0 $ 14.2 AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 81

15. STOCK COMPENSATION PLANS The Company recorded stock compensation expense as follows for the years ended December 31, 2025, 2024 and 2023 (in millions): Years Ended December 31, 2025(1) 2024(1) 2023 Cost of goods sold .............................................................................................................. $ 0.9 $ 0.5 $ 1.8 Selling, general and administrative expenses ..................................................................... 27.7 17.9 44.6 Total stock compensation expense ..................................................................................... $ 28.6 $ 18.4 $ 46.4 _________________________________ (1) The years ended December 31, 2025 and 2024 include approximately $3.0 million and $6.5 million, respectively, of compensation expense related to PTx Trimble employees vesting in legacy Trimble awards. The Company recognizes the effect of award forfeitures as an adjustment to stock compensation expense in the period in which the forfeiture occurs. Stock Incentive Plan Under the Company's 2006 Long-Term Incentive Plan (“the Plan”), up to 10,000,000 shares of AGCO’s common stock may be issued. As of December 31, 2025, of the 10,000,000 shares reserved for issuance under the Plan, approximately 3,220,463 shares remained available for grant, assuming the maximum number of shares are earned related to the performance award grants discussed below. The Plan allows the Company, under the direction of the Board of Directors’ Talent and Compensation Committee, to make grants of performance shares, stock appreciation rights (“SSARs”), restricted stock units and restricted stock awards to employees, officers and non-employee directors of the Company. Long-Term Incentive Plan and Related Performance Awards The Company’s primary long-term incentive plan is a performance share plan that provides for awards of shares of the Company’s common stock based on achieving financial targets, such as targets for return on net assets and revenue growth, as determined by the Company’s Board of Directors. Performance periods for the Company’s primary long-term incentive plan are consecutive and overlapping three-year cycles, and performance targets are set at the beginning of each cycle. The primary long-term incentive plan provides for participants to earn 16.5% to 200% of the target awards depending on the actual performance achieved, with no shares earned if performance is below the established minimum target. Awards earned under the Plan are paid in shares of common stock at the end of each three-year performance period. The percentage level achievement is determined annually or over the three-year cycle in aggregate, with the ultimate award that is earned determined based upon the average of the three annual percentages. The grant of performance award shares is subject to a total shareholder return modifier. The compensation expense associated with these awards is amortized ratably over the vesting or performance period based on the Company’s projected assessment of the level of performance that will be achieved and earned. During 2025, the Company granted performance awards covering up to 441,212 shares, assuming the Company achieves maximum levels of performance related to varying performance periods. Compensation expense recorded during 2025, 2024 and 2023 with respect to awards granted was based upon the fair value as of the grant date. The award included a market condition and the Company measured the fair value using a Monte Carlo simulation. The weighted average grant-date fair value of performance awards granted under the Plan during 2025, 2024 and 2023 was as follows: Years Ended December 31, 2025 2024 2023 Weighted average grant-date fair value ............................................... $ 108.20 $ 126.95 $ 143.63 AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 82

Performance award transactions during 2025 were as follows and are presented as if the Company were to achieve its maximum levels of performance under the plan: Performance awards Weighted-Average Grant Date Fair Value Shares awarded but not earned at January 1 .................................................................. 570,150 $ 134.26 Shares awarded ............................................................................................................... 441,212 108.20 Shares forfeited .............................................................................................................. (65,636) 126.51 Shares vested or earned .................................................................................................. (226,094) 143.61 Shares awarded but not earned at December 31 ............................................................ 719,632 $ 116.05 Based on the level of performance achieved as of December 31, 2025, 27,052 shares were earned under the related performance period. 16,650 shares were issued in February 2026, net of 10,402 shares that were withheld for taxes related to the earned awards. The Plan allows for the participant to have the option of forfeiting a portion of the shares awarded in lieu of a cash payment contributed to the participant’s tax withholding to satisfy the participant’s statutory minimum federal, state and employment taxes which would be payable at the time of grant. As of December 31, 2025, the total compensation cost related to unearned performance awards not yet recognized, assuming the Company’s current projected assessment of the level of performance that will be achieved, was approximately $29.8 million, and the weighted average period over which it is expected to be recognized is approximately two years. This estimate is based on the current projected levels of performance of outstanding awards. The compensation cost not yet recognized could be higher or lower based on actual achieved levels of performance. Restricted Stock Units (“RSUs”) RSU awards granted under the Plan do not entitle recipients to vote or receive dividends during the vesting period and will be forfeited in the event of the recipient’s termination of employment, except for certain circumstances. The fair value of restricted stock and restricted stock units is the closing market price per share of the Company’s stock on the grant date less the present value of the expected dividends not received during the vesting period. The weighted average grant-date fair value of the RSUs granted under the Plan during 2025, 2024 and 2023 was as follows: Years Ended December 31, 2025 2024 2023 Weighted average grant-date fair value ............................................... $ 101.91 $ 114.07 $ 134.63 AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 83

During the year ended December 31, 2025, the Company granted 172,027 RSU awards. These awards entitle the participant to receive one share of the Company’s common stock for each RSU granted and vest one-third per year over a three- year requisite service period. The compensation expense associated with all RSU awards is being amortized ratably over the requisite service period for the awards that are expected to vest. RSU transactions during the year ended December 31, 2025 were as follows: RSUs Weighted-Average Grant Date Fair Value Shares awarded but not vested at January 1 .................................................................. 269,202 $ 118.29 Shares awarded .............................................................................................................. 172,027 101.91 Shares forfeited .............................................................................................................. (22,325) 112.15 Shares vested ................................................................................................................. (125,759) 117.51 Shares awarded but not vested at December 31 ............................................................ 293,145 $ 109.50 During January 2026, 65,049 RSUs were issued, net of 41,119 shares that were withheld for taxes. The Plan allows for the participant to have the option of forfeiting a portion of the shares awarded in lieu of a cash payment contributed to the participant’s tax withholding to satisfy the participant’s statutory minimum federal, state and employment taxes which would be payable at the time of grant. As of December 31, 2025, the total compensation cost related to the unvested RSUs not yet recognized was approximately $19.2 million, and the weighted average period over which it is expected to be recognized is approximately one and one-half years. 2026 Awards On January 28, 2026, the Company granted 228,993 performance award shares (subject to the Company achieving future target levels of performance) and 197,162 RSUs under the Plan. The performance award shares are subject to a total shareholder return modifier. Director Restricted Stock Grants Pursuant to the Plan, all non-employee directors receive annual restricted stock grants of the Company’s common stock. All restricted stock grants made to the Company’s directors are restricted as to transferability for a period of one year. In the event a director departs from the Company’s Board of Directors, the non-transferability period expires immediately. The plan allows each director to have the option of forfeiting a portion of the shares awarded in lieu of a cash payment contributed to the participant’s tax withholding to satisfy the statutory minimum federal, state and employment taxes that would be payable at the time of grant. The 2025 grant was made on April 24, 2025, and equated to 17,256 shares of common stock, of which 16,738 shares of common stock were issued, after shares were withheld for taxes. The Company recorded stock compensation expense of approximately $1.5 million during 2025 associated with these grants. Employee Stock Purchase Plan The Company's Stock Purchase Plan (“ESPP”) provides employees of the Company and its participating subsidiaries and affiliates an opportunity to purchase shares of the Company's common stock at a 10% discount using the Company's share price on the last trading day of the six-month offering period. Participants can contribute between 1% and 10% of their compensation. The ESPP was approved by the Company’s stockholders on April 24, 2025 and became effective with the first offering period under the plan commencing on July 1, 2025. A total of 4,000,000 shares were authorized to be issued. As of December 31, 2025, the remaining shares authorized to be issued under the ESPP was approximately 4,000,000. The Company recorded stock compensation expense of approximately $0.2 million during 2025 associated with the ESPP. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 84

16. STOCKHOLDERS' EQUITY Common Stock At December 31, 2025, the Company had 150,000,000 authorized shares of common stock with a par value of $0.01 per share, with approximately 72,629,310 shares of common stock outstanding and approximately 3,220,463 shares reserved for issuance under the Company’s Plan (See Note 15). Share Repurchase Program On July 9, 2025, the Company's Board of Directors authorized a new share repurchase program authorizing the Company to repurchase up to 1.0 billion of the Company's common stock, which has no expiration date. In November 2025, the Company entered into accelerated share repurchase (“ASR”) agreements with two financial institutions to repurchase an aggregate of $250.0 million of shares of its common stock. The Company received approximately 1,997,204 shares associated with these transactions as of December 31, 2025. In February 2026, the Company received an additional 333,755 shares upon final settlement of its November 2025 ASR agreements. In November 2024, the Company entered into an ASR agreement with a financial institution to repurchase $22.0 million of shares of its common stock. The Company received approximately 228,969 shares associated with the completion of this transaction as of December 31, 2024. In November 2023, the Company entered into an ASR agreement with a financial institution to repurchase $53.0 million of shares of its common stock. The Company received approximately 371,669 shares associated with this transaction as of December 31, 2023. In January 2024, the Company received an additional 82,883 shares upon final settlement of its November 2023 ASR agreement. All shares received under the ASR agreements were retired upon receipt, and the excess of the purchase price over par value per share was recorded to a combination of “Additional paid-in capital” and “Retained earnings” within our Consolidated Balance Sheets. As of December 31, 2025, the remaining amount authorized to be repurchased under board-approved share repurchase authorizations was approximately $785.0 million, which has no expiration date. Dividends The Company’s Board of Directors has declared and the Company has paid cash dividends per common share during the following years: 2025(1) 2024(2) 2023(3) Dividends declared and paid per common share .................................................... $ 1.16 $ 3.66 $ 6.10 On January 15, 2026, the Company's Board of Directors declared a regular quarterly dividend of $0.29 per common share to be paid on March 16, 2026, to all stockholders of record as of the close of business on February 13, 2026. ____________________________________ (1) The Company’s Board of Directors declared and the Company has paid quarterly cash dividends of $0.29 per common share during each quarter of 2025. (2) The Company’s Board of Directors declared and the Company has paid quarterly cash dividends of $0.29 per common share during each quarter of 2024. In addition, the Company's Board of Directors declared and the Company paid a special variable dividend of $2.50 per common share during 2024 totaling approximately $186.6 million. (3) On April 27, 2023, the Company’s Board of Directors approved a quarterly dividend of $0.29 per common share outstanding commencing in the second quarter of 2023. The Company’s Board of Directors declared and the Company has paid quarterly cash dividends of $0.29 per common share beginning in the second quarter of 2023, from $0.24 per common share in the first quarter of 2023. In addition, the Company's Board of Directors declared and the Company paid a special variable dividend of $5.00 per common share during 2023 totaling approximately $374.4 million. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 85

Accumulated Other Comprehensive Loss The following table sets forth changes in accumulated other comprehensive loss by component, net of tax, attributed to AGCO Corporation for the years ended December 31, 2025, 2024 and 2023 (in millions): Defined Pension and Postretirement Benefit Plans Deferred Gains and Losses on Derivatives Cumulative Translation Adjustment Total Accumulated other comprehensive loss, December 31, 2022 .......................................... $ (231.2) $ (0.9) $ (1,571.0) $ (1,803.1) Other comprehensive income (loss) before reclassifications .............................................. (15.7) (8.9) 102.3 77.7 Net losses reclassified from accumulated other comprehensive loss ............................... 8.3 9.0 — 17.3 Other comprehensive income (loss) ................ (7.4) 0.1 102.3 95.0 Accumulated other comprehensive loss, December 31, 2023 .......................................... $ (238.6) $ (0.8) $ (1,468.7) $ (1,708.1) Other comprehensive income (loss) before reclassifications .............................................. (3.1) 3.4 (224.3) (224.0) Net losses reclassified from accumulated other comprehensive loss ............................... 22.9 6.3 — 29.2 Other comprehensive income (loss) ................. 19.8 9.7 (224.3) (194.8) Accumulated other comprehensive loss, December 31, 2024 .......................................... $ (218.8) $ 8.9 $ (1,693.0) $ (1,902.9) Other comprehensive income (loss) before reclassifications .............................................. (11.5) 0.8 138.3 127.6 Net losses (gains) reclassified from accumulated other comprehensive loss .......... 6.9 (6.5) — 0.4 Other comprehensive income (loss) ................. (4.6) (5.7) 138.3 128.0 Accumulated other comprehensive loss, December 31, 2025 .......................................... $ (223.4) $ 3.2 $ (1,554.7) $ (1,774.9) AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 86

The following table sets forth reclassification adjustments out of accumulated other comprehensive loss by component attributed to AGCO Corporation for the years ended December 31, 2025, 2024 and 2023 (in millions): Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item within the Consolidated Statements of Operations Year ended December 31, 2025(1) Year ended December 31, 2024(1) Year ended December 31, 2023(1) Derivatives: Net losses (gains) on foreign currency contracts ............................................................ $ (7.5) $ 6.7 $ 11.1 Cost of goods sold Net losses on commodity contracts ................... — 0.3 0.1 Cost of goods sold Net gains on treasury rate locks ........................ (0.8) (0.7) — Interest expense, net Reclassification before tax.................................... (8.3) 6.3 11.2 Income tax expense (benefit) ................................ 1.8 — (2.2) Income tax provision Reclassification net of tax .................................... $ (6.5) $ 6.3 $ 9.0 Defined pension and postretirement benefit plans: Amortization of net actuarial losses .................. $ 7.3 $ 10.5 $ 9.4 Other expense (income), net(2) Amortization of prior service cost .................... 1.9 1.5 1.7 Other expense (income), net(2) Net loss (gain) recognized due to settlement .... (0.2) 18.8 — Other expense (income), net(2) Reclassification before tax.................................... 9.0 30.8 11.1 Income tax benefit ................................................ (2.1) (7.9) (2.8) Income tax provision Reclassification net of tax .................................... $ 6.9 $ 22.9 $ 8.3 Net losses reclassified from accumulated other comprehensive loss ........................................... $ 0.4 $ 29.2 $ 17.3 ____________________________________ (1) Losses (Gains) included within the Consolidated Statements of Operations for the years ended December 31, 2025, 2024 and 2023, respectively. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost. Refer to Note 20 for additional information. 17. NET INCOME (LOSS) PER COMMON SHARE Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during each period. Diluted net income (loss) per common share assumes the exercise of outstanding stock-settled stock appreciation rights (“SSARs”) and the vesting of restricted stock units (“RSUs”) using the treasury stock method when there is no other circumstance other than the passage of time under which they would not be issued, and the effects of such assumptions are dilutive. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 87

A reconciliation of net income (loss) attributable to AGCO Corporation and weighted average common shares outstanding for purposes of calculating basic and diluted net income (loss) per share for the years ended December 31, 2025, 2024 and 2023 is as follows (in millions, except per share data): 2025 2024(1) 2023 Basic net income (loss) per share: Net income (loss) attributable to AGCO Corporation ..................................................... $ 726.5 $ (424.8) $ 1,171.4 Weighted average number of common shares outstanding ............................................. 74.4 74.6 74.8 Basic net income (loss) per share attributable to AGCO Corporation ............................... $ 9.76 $ (5.69) $ 15.66 Diluted net income (loss) per share: Net income (loss) attributable to AGCO Corporation ..................................................... $ 726.5 $ (424.8) $ 1,171.4 Weighted average number of common shares outstanding ............................................. 74.4 74.6 74.8 Dilutive SSARs and RSUs .............................................................................................. 0.1 0.1 0.1 Weighted average number of common shares and common share equivalents outstanding for purposes of computing diluted net income (loss) per share .................. 74.5 74.7 74.9 Diluted net income (loss) per share attributable to AGCO Corporation ............................ $ 9.75 $ (5.69) $ 15.63 ____________________________________ (1) As the Company has reported a loss for 2024, all potentially dilutive securities are antidilutive, and accordingly, basic net loss per share equals diluted net loss per share. 18. RELATED PARTY TRANSACTIONS Rabobank, a financial institution based in the Netherlands, is a 51% owner in the Company’s finance joint ventures, which are located in the United States, Canada, Europe, Brazil, Argentina and Australia. Rabobank is also the principal agent and participant in the Company’s revolving credit facility (see Note 12). The majority of the assets of the Company’s finance joint ventures represents finance receivables. The majority of the liabilities represents notes payable and accrued interest. Under the various joint venture agreements, Rabobank or its affiliates provide financing to the joint venture companies, primarily through lines of credit. During 2025, the Company loaned its Argentine finance joint venture, AGCO Capital Argentina S.A. (“AGCO Capital”), $11.3 million, which is outstanding as of December 31, 2025. During 2025, the Company made approximately $11.5 million of additional investment in its finance joint venture in France. During 2025, 2024 and 2023, respectively, the Company made a total of approximately $10.3 million, $12.0 million and $24.6 million of additional investments in its finance joint venture in Brazil. During 2025, 2024, and 2023, the Company received approximately $18.3 million, $13.7 million and $28.9 million, respectively, of dividends from certain of its finance joint ventures. The Company’s finance joint ventures provide retail financing and wholesale financing to its dealers. The terms of the financing arrangements offered to the Company’s dealers are similar to arrangements the finance joint ventures provide to unaffiliated third parties. In addition, the Company transfers, on an ongoing basis, a majority of its wholesale receivables in North America, Europe and Brazil to its U.S., Canadian, European and Brazilian finance joint ventures (see Note 5). The Company has outstanding guarantees of residual values that may be owed to its finance joint ventures in the U.S. and Canada upon the expiration of certain eligible operating leases and also has guarantees with its other finance joint ventures (see Note 22). In addition, as part of sales incentives provided to end users, the Company may from time to time subsidize interest rates of retail financing provided by its finance joint ventures. The cost of those programs is recognized at the time of sale to the Company’s dealers (see Note 1). As of June 30, 2025, the Company entered into several agreements with Tractors and Farm Equipment Limited (“TAFE”), including the ones described further below among others, to resolve all outstanding disputes and other matters related to the commercial relationship between AGCO and TAFE as well as TAFE's shareholding in AGCO, ownership and use of the Massey Ferguson brand in India and certain other countries, and other key governance issues between the parties. Specifically as it relates to AGCO's shareholding in TAFE, the Company and TAFE entered into a Buyback Agreement (the “Buyback Agreement”) pursuant to which TAFE will repurchase the Company’s remaining shareholdings in TAFE for an aggregate amount of $260 million. On September 30, 2025, AGCO completed the sale to TAFE of AGCO’s ownership interest in TAFE for an aggregate amount of $260 million, with after-tax proceeds from the sale totaling approximately $230 million and recorded a gain of $251.9 million on the sale of the investment in affiliate within “Other expense (income), net” in the Company’s Consolidated Statements of Operations. As part of the sale process, the substantive provisions of the agreements AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 88

AGCO entered into with TAFE on June 30, 2025 became effective, and the Amended and Restated Letter Agreement between AGCO and TAFE dated April 24, 2019, as most recently amended on July 7, 2025, expired. Settlement Agreements On June 30, 2025, the Company and TAFE entered into an Arbitrations Settlement Agreement and an India Litigation Settlement Agreement (collectively, the “Settlement Agreements”) pursuant to which the parties agreed to resolve claims arising from the Company’s termination of various commercial and brand agreements with TAFE and related arbitrations and litigation. Under the Settlement Agreements, the parties agreed to mutually release any and all claims against one another. Intellectual Property Agreement On June 30, 2025, the Company and TAFE entered into an Intellectual Property Agreement (the “Intellectual Property Agreement”) pursuant to which TAFE will take ownership of the Massey Ferguson brand in India, Nepal and Bhutan, having previously been a brand licensee for over 60 years, and the Company will retain certain protective rights, including rights of first refusal upon a proposed transfer of these intellectual property assets. The Intellectual Property Agreement also provides for certain customary confidentiality provisions. Buyback Agreement On June 30, 2025, the Company and TAFE entered into a Buyback Agreement (the “Buyback Agreement”) pursuant to which TAFE will repurchase the Company’s remaining shareholdings in TAFE for an aggregate amount of $260 million. As discussed above, AGCO completed the sale to TAFE of AGCO's ownership interest in TAFE on September 30, 2025. Cooperation Agreement On June 30, 2025, the Company and TAFE entered into a Cooperation Agreement (the “Cooperation Agreement”) pursuant to which TAFE agreed to standstill provisions with respect to its actions with regard to the Company, including the limitation on TAFE purchasing additional shares of the Company that would increase its holdings above its current percentage of outstanding shares, the requirement to vote its shares of the Company in accordance with recommendations from the Company’s Board of Directors and not engaging in future public stockholder activism. The standstill provisions do not expire. TAFE retained the discretion to vote independently on any publicly-announced proposals related to an Extraordinary Transaction (as defined in the Cooperation Agreement). The Cooperation Agreement releases TAFE from the restriction on purchasing shares in the Company following certain events such as (i) the Company’s public announcement of a possible sale of the Company, (ii) any person commencing a Board-approved public tender to acquire the Company, (iii) certain persons (other than TAFE) acquiring 12.5% or more of the Company’s outstanding shares, (iv) any person commencing a Qualified Tender Offer (as defined in the Cooperation Agreement), (v) any person commencing a public tender offer by filing a Schedule TO, or (vi) any person publicly announcing its intention to commence a public tender offer or makes a public offer. TAFE also agreed to participate pro rata in the Company’s share repurchase programs as authorized by the Company’s Board of Directors from time to time, but retains the right to maintain its current percentage level of beneficial ownership of the Company’s Common Stock. As of December 31, 2025, TAFE beneficially owned 12,150,152 shares of the Company’s common stock. In April 2024, the Company terminated all of its commercial relationships with TAFE and does not expect to incur material purchases. During 2025, 2024 and 2023, the Company purchased approximately $55.2 million, $165.9 million and $171.6 million, respectively, of tractors and components from TAFE. During 2025, 2024 and 2023, the Company sold approximately $0.1 million, $5.0 million and $3.6 million, respectively, of parts to TAFE. The Company received dividends from TAFE of approximately $0.7 million, $3.3 million and $2.9 million during 2025, 2024 and 2023, respectively. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 89

19. INCOME TAXES The sources of income (loss) before income taxes and equity in net earnings of affiliates were as follows for the years ended December 31, 2025, 2024 and 2023 (in millions): 2025 2024 2023 United States ...................................................................................................................... $ (478.1) $ (1,314.3) $ (63.5) Foreign ............................................................................................................................... 1,080.1 880.7 1,397.0 Income (loss) before income taxes and equity in net earnings of affiliates ....................... $ 602.0 $ (433.6) $ 1,333.5 The provision (benefit) for income taxes by location of the taxing jurisdiction for the years ended December 31, 2025, 2024 and 2023 consisted of the following (in millions): 2025 2024 2023 Current: United States: Federal ............................................................................................................................. $ (13.3) $ (4.6) $ 45.5 State ................................................................................................................................. 2.5 2.3 15.7 Foreign ............................................................................................................................... 299.9 203.3 433.6 289.1 201.0 494.8 Deferred: United States: Federal ............................................................................................................................. (266.1) (104.5) (64.1) State ................................................................................................................................. (48.6) (22.1) (18.7) Foreign ............................................................................................................................... (51.8) 24.0 (181.6) (366.5) (102.6) (264.4) $ (77.4) $ 98.4 $ 230.4 The Company's income tax provision as of December 31, 2025 includes a net federal tax benefit of $179.8 million related to a legal entity reorganization, which excludes approximately $82.0 million of additional benefits related to a change in the Company's permanent reinvestment assertion and state tax benefits associated with the reorganization. The Company's income tax provision as of December 31, 2023 included a benefit of $112.3 million related to the recognition of a deferred tax asset of $197.7 million, net of a valuation allowance of $85.4 million, related to the finalization of negotiations surrounding the application of Swiss Tax reform legislation enacted in 2020. The provision also included a charge of approximately $26.4 million associated with the Company's enrollment in a Brazilian tax amnesty program, “Litigation Zero”, discussed further below. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 90

A reconciliation of income taxes computed at the United States federal statutory income tax rate (21% for 2025) to the provision for income taxes reflected in the Company’s Consolidated Statements of Operations for the year ended December 31, 2025 is as follows (in millions): 2025 $ % Provision for income taxes at United States federal statutory rate .......................................................... $ 126.4 21.0 % State and local income taxes, net of federal income tax effects(1) ............................................................ (46.6) (7.7) % Foreign tax effects: Germany Statutory income tax rate differential ............................................................................................... (13.9) (2.3) % Trade tax ........................................................................................................................................... 32.4 5.4 % Other ................................................................................................................................................. (3.6) (0.6) % Switzerland Statutory income tax rate differential ............................................................................................... (39.7) (6.6) % Cantonal tax ...................................................................................................................................... 16.3 2.7 % Foreign jurisdiction on dividends ..................................................................................................... 6.6 1.1 % Other ................................................................................................................................................. 4.2 0.7 % Netherlands Nontaxable or nondeductible (gains) losses ..................................................................................... (52.0) (8.6) % Foreign jurisdiction on dividends ..................................................................................................... 8.6 1.4 % Other ................................................................................................................................................. 6.0 1.0 % France Statutory income tax rate differential ............................................................................................... 11.6 1.9 % Other ................................................................................................................................................. (0.8) (0.1) % Brazil Statutory income tax rate differential ............................................................................................... (19.4) (3.2) % Brazil interest on net equity .............................................................................................................. (31.2) (5.2) % Foreign withholding tax ................................................................................................................... 22.3 3.7 % Other ................................................................................................................................................. (5.0) (0.8) % Argentina Currency remeasurement .................................................................................................................. 6.3 1.1 % Other ................................................................................................................................................. 6.0 1.0 % India Foreign withholding tax ................................................................................................................... 25.0 4.2 % Other ................................................................................................................................................. 0.3 0.1 % China ..................................................................................................................................................... 6.9 1.2 % Other foreign jurisdictions .................................................................................................................... 10.6 1.8 % Effect of cross-border tax laws: Global intangible low-taxed income, net of credits .............................................................................. 26.6 4.4 % Branch income and loss, net of credits .................................................................................................. (43.8) (7.3) % Subpart F, net of credits ........................................................................................................................ 15.7 2.6 % Tax credits: Research and development tax credits .................................................................................................. (8.6) (1.4) % Changes in valuation allowances ............................................................................................................. 5.1 0.8 % Nontaxable or nondeductible items ......................................................................................................... 6.4 0.8 % AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 91

Changes in unrecognized tax benefits ..................................................................................................... 23.7 3.9 % Other: United States tax restructuring(2) ............................................................................................................ (179.8) (29.9) % $ (77.4) (12.9) % ____________________________________ (1) State taxes in Iowa, Illinois, Kansas, and Minnesota made up the majority (greater than 50%) of the tax effect in this category. (2) The Company's income tax provision as of December 31, 2025 includes a net federal tax benefit of $179.8 million related to a legal entity reorganization. This amount excludes approximately $42.1 million of state and local tax benefits and $39.9 million of additional benefits related to a change in the Company's permanent reinvestment assertion associated with the reorganization, which are recorded in cross-border tax effects. As previously disclosed, prior to the adoption of ASU 2023-09, a reconciliation of income taxes computed at the United States federal statutory income tax rate (21% for 2024 and 2023) to the provision for income taxes reflected in the Company’s Consolidated Statements of Operations for the years ended December 31, 2024 and 2023 is as follows (in millions): 2024 2023 Provision for income taxes at United States federal statutory rate .......................................................... $ (91.1) $ 280.0 Impairment charges ................................................................................................................................. 108.1 — State and local income taxes, net of federal income tax effects .............................................................. (19.8) (3.0) Taxes on foreign income which differ from the United States statutory rate(1) ....................................... 23.7 (193.9) Foreign inclusion, net of foreign tax credits ............................................................................................ 42.8 13.5 Tax effect of permanent differences ........................................................................................................ 13.6 (34.0) Change in valuation allowance(1) ............................................................................................................. 13.1 116.5 Change in tax contingency reserves ........................................................................................................ 30.1 33.2 Research and development tax credits ..................................................................................................... (6.4) (9.6) Brazil Amnesty Program, net of United States foreign tax credit ........................................................... — 26.4 Other, net(2) ............................................................................................................................................... (15.7) 1.3 $ 98.4 $ 230.4 ____________________________________ (1) In 2023, a gross deferred tax asset of $197.7 million less a valuation allowance of $85.4 million was recognized to reflect future Swiss tax incentives the Company anticipates it will be able to utilize by 2034 when the incentive expires. (2) In recent decisions, the Brazilian courts have confirmed a favorable tax ruling regarding the taxability of certain state value added tax incentive benefits, which allowed the Company to record a $29.6 million reduction in the provision for income taxes during the year ended December 31, 2024. Further, in 2024, “Other, net” also includes a provision of approximately $12.7 million related to a noncontrolling interest. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 92

The significant components of the deferred tax assets and liabilities at December 31, 2025 and 2024 were as follows (in millions): 2025 2024 Deferred tax assets: Net operating loss carryforwards .......................................................................................................... $ 112.2 $ 30.3 Sales incentive discounts ...................................................................................................................... 84.2 117.8 Inventory valuation reserves ................................................................................................................. 60.3 48.8 Pension and postretirement health care benefits ................................................................................... 19.5 15.4 Warranty and other reserves ................................................................................................................. 146.5 122.0 Research and development tax credits .................................................................................................. 13.8 0.3 Foreign tax credits ................................................................................................................................. 74.5 36.0 Swiss tax basis adjustment .................................................................................................................... 127.5 182.8 Investment in affiliates .......................................................................................................................... 50.9 67.5 U.S. tax basis intangibles ...................................................................................................................... 207.9 — Book over tax depreciation and amortization ....................................................................................... 22.8 — Other ..................................................................................................................................................... 41.9 30.6 Total gross deferred tax assets ............................................................................................................ 962.0 651.5 Valuation allowance ............................................................................................................................ (179.5) (147.2) Total deferred tax assets ................................................................................................................... 782.5 504.3 Deferred tax liabilities: Tax over book depreciation and amortization ...................................................................................... — 62.3 Other ..................................................................................................................................................... 3.5 6.0 Total deferred tax liabilities .............................................................................................................. 3.5 68.3 Net deferred tax assets ................................................................................................................. $ 779.0 $ 436.0 Amounts recognized in Consolidated Balance Sheets: Deferred tax assets - noncurrent ........................................................................................................... $ 905.5 $ 561.0 Deferred tax liabilities - noncurrent ...................................................................................................... (126.5) (125.0) $ 779.0 $ 436.0 As reflected in the preceding table, the Company recorded a net deferred tax asset of $779.0 million and $436.0 million as of December 31, 2025 and 2024, respectively, and had a valuation allowance against its gross deferred tax assets of approximately $179.5 million and $147.2 million as of December 31, 2025 and 2024, respectively. The Company maintains a valuation allowance to reserve a portion of its net deferred tax assets in the United States and certain foreign jurisdictions. A valuation allowance is established when it is more likely than not that some portion or all of the deferred tax assets may not be realized. The Company assessed the likelihood that its deferred tax assets would be recovered from estimated future taxable income and the current economic climate, as well as available tax planning strategies, and determined that all adjustments to the valuation allowance were appropriate. The Company believes it is more likely than not that it will realize its remaining net deferred tax assets, net of the valuation allowance, in future years. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 93

Changes in the valuation allowance during the years ended December 31, 2025, 2024 and 2023 are summarized as follows (in millions): Additions Description Balance at Beginning of Period Acquired Businesses Charged (Credited) to Costs and Expenses(1) Deductions(2) Foreign Currency Translation Balance at End of Period Year ended December 31, 2025 Deferred tax valuation allowance ............... $ 147.2 $ — $ 19.4 $ — $ 12.9 $ 179.5 Year ended December 31, 2024 Deferred tax valuation allowance ............... $ 149.8 $ — $ 13.1 $ (8.7) $ (7.0) $ 147.2 Year ended December 31, 2023 Deferred tax valuation allowance ............... $ 47.3 $ — $ 116.5 $ (16.7) $ 2.7 $ 149.8 ____________________________________ (1) The amounts recorded to expense in 2025 are primarily related to Switzerland and the U.S. The amounts recorded to expense in 2024 are primarily related to China and the amounts recorded to expense in 2023 are primarily related to Switzerland and the U.S. There were no amounts credited or charged through other comprehensive income during 2025, 2024 and 2023. (2) There are no deductions in 2025. The deductions in 2024 are primarily related to reversal of valuation allowance from the divestiture of the majority of the Company's G&P business. The deductions in 2023 are primarily related to reversal of valuation allowance from the effective utilization of certain tax losses in the Brazil amnesty program. In tax jurisdictions outside of the United States, the Company had net operating loss carryforwards of $315.3 million as of December 31, 2025, with expiration dates as follows: 2026 - $3.0 million; 2027 - $4.4 million; 2028 - $16.9 million; 2029 and thereafter - $45.3 million and unlimited - $245.7 million. The Company had U.S. state net operating loss carryforwards of $17.1 million as of December 31, 2025. The Company paid income taxes for the year ended December 31, 2025 as follows (in millions): 2025 U.S. federal ......................................................................................................................................................... $ — U.S. state and local .............................................................................................................................................. 4.1 Foreign: Canada .............................................................................................................................................................. 17.5 Germany Corporate income tax ..................................................................................................................................... 46.3 Trade tax ......................................................................................................................................................... 55.4 France ............................................................................................................................................................... 27.7 Switzerland ....................................................................................................................................................... 29.1 Brazil ................................................................................................................................................................ 22.3 India .................................................................................................................................................................. 26.4 Other foreign ..................................................................................................................................................... 54.3 Income taxes, net of amounts refunded .......................................................................................................... $ 283.1 The table above presents jurisdictions in which income taxes paid exceed 5% of total income taxes, net of refunds. Unless otherwise indicated, amounts for foreign jurisdictions include both national and provincial income taxes paid. The Company paid income taxes of $344.0 million and $463.6 million for the years ended December 31, 2024 and 2023, respectively. The Company recognizes income tax benefits from uncertain tax positions only when there is a more than 50% likelihood that the tax positions will be sustained upon examination by the taxing authorities based on the technical merits of the positions. At December 31, 2025 and 2024, the Company had approximately $3.8 million and $9.3 million, respectively, of accrued or deferred taxes related to uncertain income tax positions connected with ongoing income tax audits in various jurisdictions that it expects to settle or pay in the next 12 months, reflected in “Other current liabilities” in the Company’s Consolidated Balance Sheets. At December 31, 2025 and 2024, the Company had approximately $465.8 million and AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 94

$378.4 million, respectively, of accrued taxes reflected in “Other noncurrent liabilities” in the Company’s Consolidated Balance Sheets. The Company accrued approximately $1.8 million and $3.6 million of interest and penalties related to unrecognized tax benefits in its provision for income taxes during 2025 and 2024, respectively. At December 31, 2025 and 2024, the Company had accrued interest and penalties related to unrecognized tax benefits of $34.7 million and $30.9 million, respectively. A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits as of and during the years ended December 31, 2025 and 2024 is as follows (in millions): 2025 2024 Gross unrecognized income tax benefits at the beginning of the year ................................................. $ 387.4 $ 351.2 Additions for tax positions of the current year .................................................................................... 54.0 55.8 Additions for tax positions of prior years ............................................................................................ 9.1 7.4 Reductions for tax positions of prior years for: Changes in judgments ....................................................................................................................... (17.6) (0.5) Settlements during the year ............................................................................................................... (8.4) — Lapses of applicable statute of limitations ........................................................................................ (3.9) (2.4) Foreign currency translation and other .............................................................................................. 49.3 (24.1) Gross unrecognized income tax benefits at the end of the year ........................................................... $ 469.9 $ 387.4 At December 31, 2025 and 2024, the Company had $469.9 million and $387.4 million, respectively, of unrecognized income tax benefits, which would affect the Company’s effective tax rate if recognized. The reconciliation of gross unrecognized income tax benefits above for 2025 and 2024 excludes certain indirect favorable effects that relate to other tax jurisdictions of approximately $161.4 million and $126.4 million, respectively. The change in certain indirect favorable effects between 2025 and 2024 includes approximately $17.9 million and $30.2 million, respectively, related to additions and reductions for tax positions of current and prior years, changes in judgments and lapses of statutes of limitations. During 2022, the Company made the determination that it will be able to utilize approximately $15.7 million of indirect favorable benefits in the United States related to the settlement of a foreign audit examination. In addition, the gross unrecognized income tax benefits as of December 31, 2025 and 2024 exclude certain deposits made in a foreign jurisdiction of approximately $28.5 million, net of $21.0 million refunds received, and $25.2 million, net of $18.5 million refunds received, respectively, associated with an ongoing audit. The Company and its subsidiaries file income tax returns in the United States and in various state, local and foreign jurisdictions. The Company and its subsidiaries are routinely examined by tax authorities in these jurisdictions. As of December 31, 2025, a number of income tax examinations in foreign jurisdictions, as well as the United States, were ongoing. It is possible that certain of these ongoing examinations may be resolved within 12 months. Due to the potential for resolution of federal, state and foreign examinations, and the expiration of various statutes of limitation, it is reasonably possible that the Company’s gross unrecognized income tax benefits balance may materially change within the next 12 months. In certain foreign jurisdictions, there are either statutory expirations or the Company’s settlement expectations such that approximately $3.8 million could be concluded within the next 12 months. Although there are ongoing examinations in various federal and state jurisdictions, the 2020 through 2025 tax years generally remain subject to examination in the United States by applicable authorities. In the Company’s significant foreign jurisdictions, primarily the United Kingdom, France, Germany, Switzerland, Finland and Brazil, the 2019 through 2025 tax years generally remain subject to examination by their respective tax authorities. In 2008 and 2012, as part of routine audits, the Brazilian taxing authorities disallowed deductions relating to the amortization of certain goodwill recognized in connection with a reorganization of the Company’s Brazilian operations and the related transfer of certain assets to the Company’s Brazilian subsidiaries. The amount of the tax disallowance through December 31, 2023 would have been approximately 131.5 million Brazilian reais (or approximately $27.1 million) and subject to significant interest and penalties. In the first quarter of 2023, the Brazilian government issued a “Litigation Zero” tax amnesty program, whereby cases being disputed at the administrative court level of review for a period of more than ten years could be considered for amnesty. Enrollment in the amnesty program was not considered an admission of guilt and allowed for outstanding contested cases to be settled at a significant monetary discount. The Company contested the disallowance and had been historically advised by its legal and tax advisors that its position was allowable under the tax laws of Brazil. After weighing various impacts involved with enrollment, including the avoidance of potential interest, penalties and legal costs, the Company enrolled in the program in the quarter ended March 31, 2023. The Company recorded approximately 182.6 million AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 95

Brazilian reais (or approximately $34.8 million) within “Income tax provision” net of associated U.S. income tax credits of approximately $8.4 million and completed its installment payments related to its enrollment in the program during the year ended December 31, 2023. 20. PENSION AND POSTRETIREMENT BENEFIT PLANS The Company sponsors defined benefit pension plans covering certain employees, principally in the United Kingdom, Germany, Switzerland, Finland, France, Norway and Argentina. The Company also provides certain postretirement health care and life insurance benefits for certain employees, principally in the United States and Brazil. The Company merged its U.S. qualified defined benefit pension plans for hourly and salaried employees into one plan (the “Plan”) on December 31, 2023 and finalized the termination of the Plan in 2024. In connection with the termination process, the Company offered a lump sum benefit payout option to Plan participants, and the remaining assets of the Plan were used to purchase a group annuity contract that transferred the remaining plan liabilities to an insurance carrier. The termination process was finalized by December 31, 2024 and the settlement resulted in the recognition of approximately $18.5 million within “Other expense (income), net” within the Company's Consolidated Statements of Operations representing the amounts previously recognized in “Accumulated other comprehensive loss.” As of December 31, 2024, there were no remaining balances on the balance sheet related to the Plan. The Company also maintains an Executive Nonqualified Pension Plan (“ENPP”) in the U.S. that provides certain senior executives with retirement income for a period of 15 years or up to a lifetime annuity, if certain requirements are met. Benefits under the ENPP vest if the participant has attained age 50 and has at least ten years of service (including five years as a participant in the ENPP), but are not payable until the participant reaches age 65. The lifetime annuity benefit generally is available only to vested participants who retire on or after reaching age 65 and was eliminated during 2021 for participants reaching age 65 subsequent to December 31, 2022. The ENPP is an unfunded, nonqualified defined benefit pension plan. The ENPP was frozen as of December 31, 2024 against future benefit accruals. Net annual pension costs for the years ended December 31, 2025, 2024 and 2023 for the Company’s defined benefit pension plans and ENPP are set forth below (in millions): Pension benefits 2025 2024 2023 Service cost ................................................................................................ $ 7.7 $ 8.2 $ 9.6 Interest cost ................................................................................................ 27.1 27.8 29.3 Expected return on plan assets ................................................................... (26.3) (30.8) (30.4) Amortization of net actuarial losses .......................................................... 7.4 1.4 9.4 Amortization of prior service cost ............................................................. 1.6 10.5 1.5 Net loss recognized due to settlement ....................................................... (0.2) 18.8 0.4 Curtailment (gain) loss .............................................................................. — (0.2) — Net annual pension cost ............................................................................. $ 17.3 $ 35.7 $ 19.8 The components of net periodic pension and postretirement benefits cost, other than the service cost component, are included in “Other expense (income), net” in the Company’s Consolidated Statements of Operations. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 96

The weighted average assumptions used to determine the net annual pension costs for the Company’s defined benefit pension plans and ENPP for the years ended December 31, 2025, 2024 and 2023 are as follows: 2025 2024 2023 All plans: Weighted average discount rate ............................................................... 5.1 % 4.5 % 4.9 % Weighted average expected long-term rate of return on plan assets ........ 5.2 % 5.5 % 5.5 % Rate of increase in future compensation .................................................. 1.5%-5.0% 1.7%-5.0% 1.8%-5.0% U.S.-based plans: Weighted average discount rate ............................................................... 5.8 % 5.3 % 5.7 % Weighted average expected long-term rate of return on plan assets(1) ..... — % 5.8 % 5.8 % Rate of increase in future compensation(2) ................................................ 5.0 % 5.0 % 5.0 % ___________________________________ (1) Applicable for U.S. funded, qualified plan. The termination process was finalized by December 31, 2024. (2) Applicable for U.S. unfunded, nonqualified plan. Net annual postretirement benefit costs, and the weighted average discount rate used to determine them, for the years ended December 31, 2025, 2024 and 2023 are set forth below (in millions, except percentages): Postretirement benefits 2025 2024 2023 Service cost ................................................................................................ $ — $ — $ 0.1 Interest cost ................................................................................................ 1.4 1.5 1.3 Amortization of net actuarial gains ............................................................ (0.1) — — Amortization of prior service cost ............................................................. 0.3 0.1 0.2 Net annual postretirement benefit cost ...................................................... $ 1.6 $ 1.6 $ 1.6 Weighted average discount rate ................................................................. 7.2 % 6.7 % 6.6 % AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 97

The following tables set forth reconciliations of the changes in benefit obligation, plan assets and funded status as of December 31, 2025 and 2024 (in millions): Pension and ENPP Benefits Postretirement Benefits Change in benefit obligation 2025 2024 2025 2024 Benefit obligation at beginning of year ........................ $ 550.1 $ 647.0 $ 19.7 $ 23.0 Service cost ................................................................... 7.7 8.2 — — Interest cost ................................................................... 27.1 27.8 1.4 1.5 Plan participants’ contributions .................................... 1.0 1.3 — — Actuarial losses (gains) ................................................. 7.8 (42.3) 4.7 (3.1) Acquisitions .................................................................. — — (0.2) — Amendments ................................................................. 0.1 (0.3) — 1.6 Settlements .................................................................... (5.7) (34.0) — — Benefits paid ................................................................. (42.3) (44.4) (1.5) (1.9) Foreign currency exchange rate changes ...................... 38.2 (12.2) 0.9 (1.4) Curtailment ................................................................... — (1.0) — — Benefit obligation at end of year .................................. $ 584.0 $ 550.1 $ 25.0 $ 19.7 Pension and ENPP Benefits Postretirement Benefits Change in plan assets 2025 2024 2025 2024 Fair value of plan assets at beginning of year............... $ 494.0 $ 572.0 $ — $ — Actual return on plan assets .......................................... 22.9 (18.2) — — Employer contributions ................................................ 14.8 26.9 1.5 1.8 Plan participants’ contributions .................................... 1.0 1.3 — — Benefits paid ................................................................. (42.3) (44.4) (1.5) (1.9) Settlements .................................................................... (5.7) (33.9) — — Foreign currency exchange rate changes ...................... 37.4 (9.7) — 0.1 Fair value of plan assets at end of year ......................... $ 522.1 $ 494.0 $ — $ — Funded status ................................................................ $ (61.9) $ (56.0) $ (25.0) $ (19.7) Pension and ENPP Benefits Postretirement Benefits Amounts recognized in Consolidated Balance Sheets: 2025 2024 2025 2024 Other assets (noncurrent) .............................................. $ 95.9 $ 92.9 $ — $ — Other current liabilities ................................................. (7.6) (7.5) (2.0) (1.6) Accrued expenses ......................................................... (4.0) (3.7) — — Pension and postretirement health care benefits (noncurrent) .................................................................. (146.2) (137.7) (23.0) (18.1) Net amount recognized ................................................. $ (61.9) $ (56.0) $ (25.0) $ (19.7) AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 98

The following table summarizes the activity in accumulated other comprehensive loss related to the Company’s ENPP and defined pension and postretirement benefit plans during the years ended December 31, 2025, 2024 and 2023 (in millions): Before-Tax Amount Income Tax Expense (Benefit) After-Tax Amount Accumulated other comprehensive loss as of December 31, 2022 ........... $ (304.4) $ (73.2) $ (231.2) Net loss recognized due to settlement ....................................................... 0.4 — 0.4 Net actuarial loss arising during the year .................................................. (21.5) (5.4) (16.1) Amortization of prior service cost ............................................................. 1.7 0.4 1.3 Amortization of net actuarial losses .......................................................... 9.4 2.4 7.0 Accumulated other comprehensive loss as of December 31, 2023 ........... $ (314.4) $ (75.8) $ (238.6) Prior service cost arising during the year .................................................. (1.4) (0.5) (0.9) Net loss recognized due to settlement ....................................................... 18.8 4.8 14.0 Net actuarial loss arising during the year .................................................. (2.7) (0.5) (2.2) Amortization of prior service cost ............................................................ 1.5 0.4 1.1 Amortization of net actuarial losses .......................................................... 10.5 2.7 7.8 Accumulated other comprehensive loss as of December 31, 2024 ........... $ (287.7) $ (68.9) $ (218.8) Prior service cost arising during the year .................................................. (0.1) — (0.1) Net gain recognized due to settlement ....................................................... (0.2) — (0.2) Net actuarial loss arising during the year .................................................. (15.6) (4.2) (11.4) Amortization of prior service cost ............................................................ 1.9 0.4 1.5 Amortization of net actuarial losses ......................................................... 7.3 1.7 5.6 Accumulated other comprehensive loss as of December 31, 2025 ........... $ (294.4) $ (71.0) $ (223.4) The unrecognized net actuarial losses included in accumulated other comprehensive loss related to the Company’s defined benefit pension plans and ENPP as of December 31, 2025 and 2024 are set forth below (in millions): 2025 2024 Unrecognized net actuarial losses ............................................................................................ $ 260.4 $ 256.7 The increase in unrecognized net actuarial losses between years is primarily due to the termination of the U.S. qualified defined benefit plan in the prior year, as well as the total net impact of the changes in the assumptions, specifically the decrease in the discount rate. The unrecognized net actuarial losses will be impacted in future periods by actual asset returns, discount rate changes, currency exchange rate fluctuations, actual demographic experience and certain other factors. For some of the Company’s defined benefit pension plans, these losses, to the extent they exceed 10% of the greater of the plan’s liabilities or the fair value of assets (“the gain/loss corridor”), will be amortized on a straight-line basis over the periods discussed as follows. For the Company’s U.K. defined benefit pension plan, the population covered is predominantly inactive participants, and losses related to those plans, to the extent they exceed the gain/loss corridor, will be amortized over the average remaining lives of those participants while covered by the respective plan. For the Company’s ENPP, the population is predominantly active participants, and losses related to the plan will be amortized over the average future working lifetime of the active participants expected to receive benefits. As of December 31, 2025, the average amortization periods were as follows: ENPP U.K. Plan Average amortization period of losses related to defined benefit pension plans .................... 6.5 years 16.3 years AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 99

The following table summarizes the unrecognized prior service cost related to the Company’s defined benefit pension plans as of December 31, 2025 and 2024 (in millions): 2025 2024 Unrecognized prior service cost .............................................................................................. $ 28.3 $ 29.8 The decrease in the unrecognized prior service cost between years is due primarily to the amortization of unrecognized prior service cost related to prior plan amendments. The following table summarizes the unrecognized net actuarial gains included in the Company’s accumulated other comprehensive loss related to the Company’s U.S. and Brazilian postretirement health care benefit plans as of December 31, 2025 and 2024 (in millions): 2025 2024 Unrecognized net actuarial losses (gains)(1) ............................................................................. $ 1.6 $ (3.3) ___________________________________ (1) Includes a gain of approximately $0.6 million and $1.3 million, respectively, related to the Company’s U.S. postretirement benefit plans. The change in unrecognized net actuarial losses (gains) related to the Company’s U.S. and Brazilian postretirement benefit plans is primarily resulting from the loss in relation to the change in the projected benefit obligation as a result of the unfavorable impact of the underlying assumptions as of December 31, 2025. The unrecognized net actuarial gains or losses will be impacted in future periods by discount rate changes, actual demographic experience, actual health care inflation and certain other factors. These gains or losses, to the extent they exceed the gain/loss corridor, will be amortized on a straight-line basis over the average remaining service period of active employees expected to receive benefits, or the average remaining lives of inactive participants, covered under the postretirement benefit plans. As of December 31, 2025, the gains or losses did not exceed the corridor for the Company’s U.S. postretirement benefit plan and therefore, there will be no amortization of unrecognized gains or losses during 2025. As of December 31, 2025 and 2024, the net prior service cost related to the Company’s Brazilian postretirement health care benefit plans was as follows (in millions): 2025 2024 Net prior service cost .............................................................................................................. $ 4.1 $ 4.5 The following table summarizes the fair value of plan assets, aggregate projected benefit obligation and accumulated benefit obligation as of December 31, 2025 and 2024 for defined benefit pension plans, ENPP and other postretirement plans with accumulated benefit obligations in excess of plan assets (in millions): 2025 2024 All plans: Fair value of plan assets ....................................................................................................... $ 33.2 $ 30.7 Projected benefit obligation .................................................................................................. 216 199.3 Accumulated benefit obligation ........................................................................................... 203.6 189.8 U.S.-based plans and ENPP: Fair value of plan assets ....................................................................................................... $ — $ — Projected benefit obligation .................................................................................................. 108.4 102.5 Accumulated benefit obligation ........................................................................................... 108.4 102.5 The amounts for 2025 and 2024 disclosed above do not include the fair value of plan assets, the projected benefit obligation or the accumulated benefit obligation related to the Company’s U.K. plan. The Company’s U.K. plan’s fair value of plan assets was in excess of the plan’s accumulated benefit obligation as of December 31, 2025 and 2024. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 100

The Company’s defined benefit pension obligation has been reflected in the manner in which its defined benefit plans are being administered or expected to be administered in the future. The obligation and resulting liability or asset is calculated employing both actuarial and legal assumptions. These assumptions include, but are not limited to, future inflation, the return on pension assets, discount rates, life expectancy and potential salary increases. There are also assumptions related to the manner in which individual benefit plan benefits are calculated, some of which are legal in nature and include, but are not limited to, member eligibility, years of service, and the uniformity of both guaranteed minimum pension benefits and member normal retirement ages for men and women. Some of these assumptions also are subject to the outcome of certain legal cases, which are currently unknown. In the event that any of these assumptions or the administration approach are proven to be different from the Company’s current interpretations and approach, there could be material increases or decreases in the Company’s defined benefit pension obligation and related amounts such as prior service cost and actuarial gains and losses, as well as the related amount and timing of future contributions to be paid by the Company. The weighted average assumptions used to determine the benefit obligation for the Company’s defined benefit pension plans and ENPP as of December 31, 2025 and 2024 are as follows: 2025 2024 All plans: Weighted average discount rate ............................................................................................ 5.0 % 5.1 % Rate of increase in future compensation .............................................................................. 1.5%-3.5% 1.5%-5.0% U.S.-based plans: Weighted average discount rate ............................................................................................ 5.6 % 5.8 % Rate of increase in future compensation(1) ............................................................................ — % 5.0 % ____________________________________ (1) Applicable for U.S. unfunded, nonqualified plan. The termination process was finalized by December 31, 2024. The weighted average discount rate used to determine the benefit obligation for the Company’s postretirement benefit plans for the years ended December 31, 2025 and 2024 was 7.7% and 7.2%, respectively. For the years ended December 31, 2025, 2024 and 2023, the Company used a globally consistent methodology to set the discount rate in the countries where its largest benefit obligations exist. In the United States, the United Kingdom and the Euro Zone, the Company constructed a hypothetical bond portfolio of high-quality corporate bonds and then applied the cash flows of the Company’s benefit plans to those bond yields to derive a discount rate. The bond portfolio and plan-specific cash flows vary by country, but the methodology in which the portfolio is constructed is consistent. For measuring the expected U.S. postretirement benefit obligation at December 31, 2025, the Company assumed a 7.5% health care cost trend rate for 2026 decreasing to 5.0% by 2036. For measuring the expected U.S. postretirement benefit obligation at December 31, 2024, the Company assumed a 7.5% health care cost trend rate for 2025 decreasing to 5.0% by 2035. For measuring the Brazilian postretirement benefit plan obligation at December 31, 2025, the Company assumed a 10.2% health care cost trend rate for 2026, decreasing to 4.5% by 2036. For measuring the Brazilian postretirement benefit plan obligation at December 31, 2024, the Company assumed a 10.2% health care cost trend rate for 2025, decreasing to 4.5% by 2035. The Company currently estimates its minimum contributions and benefit payments to its U.S.-based unfunded ENPP for 2026 will aggregate to approximately $5.7 million. The Company currently estimates its minimum contributions for underfunded plans and benefit payments for unfunded plans for 2026 to its non-U.S.-based defined benefit pension plans will aggregate to approximately $9.1 million, of which approximately $0.1 million relates to its U.K. pension plan. The Company currently estimates its benefit payments for 2026 to its U.S.-based postretirement health care and life insurance benefit plans will aggregate to approximately $1.6 million and its benefit payments for 2026 to its Brazilian postretirement health care benefit plans will aggregate to less than $0.4 million. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 101

During 2025, approximately $48.0 million of benefit payments were made related to the Company’s defined benefit pension plans and ENPP. At December 31, 2025, the aggregate expected benefit payments for the Company’s defined benefit pension plans and ENPP are as follows (in millions): 2026 ...................................................................................................................................................................... $ 46.8 2027 ...................................................................................................................................................................... 47.9 2028 ...................................................................................................................................................................... 45.6 2029 ...................................................................................................................................................................... 46.7 2030 ...................................................................................................................................................................... 48.2 2031 through 2035 ................................................................................................................................................ 264.4 $ 499.6 During 2025, approximately $1.5 million of benefit payments were made related to the Company’s U.S. and Brazilian postretirement benefit plans. At December 31, 2025, the aggregate expected benefit payments for the Company’s U.S. and Brazilian postretirement benefit plans are as follows (in millions): 2026 ...................................................................................................................................................................... $ 2.1 2027 ...................................................................................................................................................................... 2.1 2028 ...................................................................................................................................................................... 2.1 2029 ...................................................................................................................................................................... 2.2 2030 ...................................................................................................................................................................... 2.2 2031 through 2035 ................................................................................................................................................ 11.3 $ 22.0 Investment Strategy and Concentration of Risk The weighted average asset allocation of the Company’s U.K. pension benefit plans as of December 31, 2025 and 2024 are as follows: Asset Category 2025 2024 Equity securities ..................................................................................................................... 8 % 5 % Fixed income securities .......................................................................................................... 87 % 91 % Other investments .................................................................................................................. 5 % 4 % Total ....................................................................................................................................... 100 % 100 % The Company categorizes its pension plan assets into one of three levels based on the assumptions used in valuing the asset. Refer to Note 21 for a discussion of the fair value hierarchy as per the guidance in ASC 820, “Fair Value measurements” (“ASC 820”). The Company’s valuation techniques are designed to maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses the following valuation methodologies to measure the fair value of its pension plan assets: • Equity Securities: Equity securities are valued on the basis of the closing price per unit on each business day as reported on the applicable exchange. Equity funds are valued using the net asset value of the fund, which is based on the fair value of the underlying securities. • Fixed Income: Fixed income securities are valued using the closing prices in the active market in which the fixed income investment trades. Fixed income funds are valued using the net asset value of the fund, which is based on the fair value of the underlying securities. • Cash: These investments primarily consist of short-term investment funds which are valued using the net asset value. • Alternative Investments: These investments are reported at fair value as determined by the general partner of the alternative investment. The “market approach” valuation technique is used to value investments in these funds. The AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 102

funds typically are open-end funds as they generally offer subscription and redemption options to investors. The frequency of such subscriptions or redemptions is dictated by each fund’s governing documents. The amount of liquidity provided to investors in a particular fund generally is consistent with the liquidity and risk associated with the underlying portfolio (i.e., the more liquid the investments in the portfolio, the greater the liquidity provided to investors). Liquidity of individual funds varies based on various factors and may include “gates,” “holdbacks” and “side pockets” imposed by the manager of the fund, as well as redemption fees that may also apply. Investments in these funds typically are valued utilizing the net asset valuations provided by their underlying investment managers, general partners or administrators. The funds consider subscription and redemption rights, including any restrictions on the disposition of the interest, in its determination of the fair value. Other alternative investments include derivative contracts such as options and currency forwards, commodity securities and insurance-linked securities, which are largely valued based on observable data. • Insurance Contracts: Insurance contracts are valued using current prevailing interest rates. The fair value of the Company’s pension assets as of December 31, 2025 is as follows (in millions): Total Level 1 Level 2 Level 3 Equity securities: Global equities ............................................................ $ 41.0 $ 41.0 $ — $ — Total equity securities ............................................. 41.0 41.0 — — Fixed income: Aggregate fixed income .............................................. 420.8 106.8 314.0 — Total fixed income share(1) ..................................... 420.8 106.8 314.0 — Alternative investments: Hedge Funds ............................................................... 8.8 8.8 Commodity securities .................................................. 4.5 4.5 Insurance-linked securities .......................................... 2.1 2.1 Derivative contracts - currency forwards, interest rate swaps and options ................................................ 0.9 — 0.9 — Total alternative investments(2) ............................... 16.3 4.5 11.8 — Miscellaneous funds(3) .................................................... 35.0 — — 35.0 Cash and equivalents measured at net asset value(4) ....... 9.0 — — — Total assets ............................................................. $ 522.1 $ 152.3 $ 325.8 $ 35.0 ______________________________________ (1) 73% of “fixed income” securities are in government treasuries; 13% are in investment-grade corporate bonds; 8% are in asset or mortgage backed securities; 4% are in high-yield securities and 2% are in foreign securities. (2) 54% of “alternative investments” are in hedge funds; 28% are in commodity securities; 12% are in insurance-linked securities; and 6% are in derivative contracts. (3) “Miscellaneous funds” is comprised of insurance contracts in Finland, Norway and Switzerland. (4) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 103

The following is a reconciliation of Level 3 assets as of December 31, 2025 (in millions): Total Alternative Investments Miscellaneous Funds Beginning balance as of December 31, 2024 .............................................. $ 32.2 $ — $ 32.2 Actual return on plan assets: (a) Relating to assets still held at reporting date ...................................... 0.9 — 0.9 Purchases, sales and /or settlements ............................................................ (2.3) — (2.3) Foreign currency exchange rate changes .................................................... 4.2 — 4.2 Ending balance as of December 31, 2025 ................................................... $ 35.0 $ — $ 35.0 The fair value of the Company’s pension assets as of December 31, 2024 is as follows (in millions): Total Level 1 Level 2 Level 3 Equity securities: Global equities ............................................................ $ 21.3 $ — $ 21.3 $ — Total equity securities ............................................. 21.3 — 21.3 — Fixed income: Aggregate fixed income .............................................. 420.5 420.5 — — Total fixed income share(1) ..................................... 420.5 420.5 — — Alternative investments: Hedge funds measured at net asset value(4) ................. 10.0 — — — Total alternative investments(2) ............................... 10.0 — — — Miscellaneous funds(3) .................................................... 32.2 — — 32.2 Cash and equivalents measured at net asset value(4) ....... 10.0 — — — Total assets ............................................................. $ 494.0 $ 420.5 $ 21.3 $ 32.2 ______________________________________ (1) 68% of “fixed income” securities are in government treasuries; 22% are in foreign securities; 2% are in investment-grade corporate bonds; 7% are in asset or mortgage backed securities and 1% are in high-yield securities. (2) 49% of “alternative investments” are in relative value funds; 30% are in long-short equity funds; 14% are in event-driven funds and 7% are in credit funds. (3) “Miscellaneous funds” is comprised of insurance contracts in Finland, Norway and Switzerland. (4) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The following is a reconciliation of Level 3 assets as of December 31, 2024 (in millions): Total Alternative Investments Miscellaneous Funds Beginning balance as of December 31, 2023 .............................................. $ 41.0 $ 2.2 $ 38.8 Actual return on plan assets: (a) Relating to assets still held at reporting date ...................................... (0.6) — (0.6) Purchases, sales and /or settlements ............................................................ (5.9) (2.2) (3.7) Foreign currency exchange rate changes .................................................... (2.3) — (2.3) Ending balance as of December 31, 2024 ................................................... $ 32.2 $ — $ 32.2 The Company’s global pension fund strategy is to diversify investments across broad categories of equity and fixed income securities with appropriate use of alternative investment categories to minimize risk and volatility. The primary investment objective of the Company’s pension plans is to secure participant retirement benefits. As such, the key objective in the pension plans’ financial management is to promote stability and, to the extent appropriate, growth in funded status. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 104

The investment strategy for the plans’ portfolio of assets balances the requirement to generate returns with the need to control risk. The asset mix is recognized as the primary mechanism to influence the reward and risk structure of the pension fund investments in an effort to accomplish the plans’ funding objectives. The Company engages investment professionals to manage the overall schemes. The Company's strategic allocation considers multi-asset growth portfolios, cash flow driven investments, and liability hedging assets. Each type of portfolio aims to mitigate specific concentrations of risks while achieving returns. Ranging from matching the movement in liabilities related to interest rates and inflation with no outperformance to producing income with a high degree of certainty, a defined purpose is established for each portfolio. Such diversification allows for a balanced approach between investments in assets for near-term benefit payments and assets for longer-term growth. The target allocations of retirement fund investments for the Company’s non-U.S. based pension plans are as follows: Non-U.S. Pension Plans(1) Target allocations: Fixed income securities ........................................................................................................ 90.0 % Equity securities ................................................................................................................... 7.5 % Alternative investments ........................................................................................................ 2.5 % Total .................................................................................................................................... 100.0 % _______________________________________ (1) The majority of the Company’s non-U.S. pension fund investments are related to the Company’s pension plan in the United Kingdom. The expected long-term return on plan assets is based on a long horizon of 15 to 20 years. Projected returns consider current and historical asset allocations. The Company has noted this mix of investments for a 20 years period supports an expected long-term return on its non-U.S. based pension plans of approximately 5.8% to 7.0%. Based on the historical returns and forward-looking return expectations, we believe our expected return assumption of 6.20% for our U.K.-based plans for the year ending December 31, 2026 is reasonable and attainable. The Company has tempered this historical indicator with lower expectations for returns and changes to investments in the future as well as the administrative costs of the plans. Equity securities primarily include investments in large-cap and small-cap companies located across the globe. Fixed income securities include government securities, investment-grade corporate bonds of companies from diversified industries, asset-backed securities, high-yield securities and foreign securities. Alternative and other assets include investments in hedge funds, derivative contracts, commodity securities and insurance-linked securities. To date, the Company has not invested pension funds in its own stock and has no intention of doing so in the future. Within each asset class, careful consideration is given to balancing the portfolio among industry sectors, geographies, interest rate sensitivity, dependence on economic growth, currency and other factors affecting investment returns. The assets are managed by professional investment firms, who are bound by precise mandates and are measured against specific benchmarks. Among asset managers, consideration is given, among others, to balancing security concentration, issuer concentration, investment style and reliance on particular active investment strategies. The Company participates in a small number of multiemployer plans in the Netherlands and Sweden. The Company has assessed and determined that none of the multiemployer plans which it participates in are individually, or in the aggregate, significant to the Company’s Consolidated Financial Statements. The Company does not expect to incur a withdrawal liability or expect to significantly increase its contributions over the remainder of the multiemployer plans’ contract periods. The Company maintains separate defined contribution plans covering certain employees and executives, primarily in the United States, the United Kingdom and Brazil. Under the plans, the Company contributes a specified percentage of each eligible employee’s compensation. The Company contributed approximately $18.6 million, $23.1 million and $21.1 million for the years ended December 31, 2025, 2024 and 2023, respectively. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 105

21. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company categorizes its assets and liabilities into one of three levels based on the assumptions used in valuing the asset or liability. Estimates of fair value for financial assets and liabilities are based on a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions. In accordance with this guidance, fair value measurements are classified under the following hierarchy: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations in which all significant inputs are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 - Model-derived valuations in which one or more significant inputs are unobservable. The Company categorizes its pension plan assets into one of the three levels of the fair value hierarchy, except for those measured using the net asset value per share (or its equivalent) practical expedient. Refer to Note 20 for a discussion of the valuation methods used to measure the fair value of the Company’s pension plan assets. The Company enters into foreign currency, commodity and interest rate swap contracts. The fair values of the Company’s derivative instruments are determined using discounted cash flow valuation models. The significant inputs used in these models are readily available in public markets, or can be derived from observable market transactions, and therefore have been classified as Level 2. Inputs used in these discounted cash flow valuation models for derivative instruments include the applicable exchange rates, forward rates or interest rates. Such models used for option contracts also use implied volatility. Refer to Note 14 for additional information on the Company’s derivative instruments and hedging activities. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 and 2024 are summarized below (in millions): As of December 31, 2025 Level 1 Level 2 Level 3 Total Derivative assets ............................................................................... $ — $ 20.2 $ — $ 20.2 Derivative liabilities .......................................................................... — 48.4 — 48.4 As of December 31, 2024 Level 1 Level 2 Level 3 Total Derivative assets ............................................................................... $ — $ 46.0 $ — $ 46.0 Derivative liabilities .......................................................................... — 14.2 — 14.2 The carrying amounts of long-term debt under the Company’s EIB Senior term loans due 2029 and 2030 and Senior term loans due between 2025 and 2028 approximate fair value based on the borrowing rates currently available to the Company for loans with similar terms and average maturities. At December 31, 2025, the estimated fair value of the Company’s 0.800% Senior notes due 2028, based on listed market values, was approximately €566.7 million (or approximately $664.8 million), compared to the carrying value of €600.0 million (or approximately $703.8 million). At December 31, 2025, the estimated fair value of the Company's 5.450% Senior notes due 2027, based on listed market values, was approximately $405.4 million compared to the carrying value of $400.0 million. At December 31, 2025, the estimated fair value of the Company's 5.800% Senior notes due 2034, based on listed market values, was approximately $733.9 million, compared to the carrying value of $700.0 million. Refer to Note 12 for additional information on the Company’s long-term debt. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 106

22. COMMITMENTS AND CONTINGENCIES The future payments required under the Company’s significant commitments, excluding indebtedness, as of December 31, 2025 are as follows (in millions): Interest payments on indebtedness – The Company expects to make interest payments of approximately $116.6 million during the year ending December 31, 2026 related to indebtedness outstanding as of December 31, 2025. Indebtedness amounts reflect the principal amount of the Company’s EIB senior term loans, senior notes, senior term loans, credit facility and certain short-term borrowings, gross of any debt issuance costs. The projected amount of interest payments includes assumptions regarding the future fluctuations in interest rates, as well as borrowings under the Company’s revolving credit facility and other variable debt instruments. The amounts provided relate only to existing debt obligations and do not assume the refinancing or replacement of such debt. Refer to Note 12 of the Consolidated Financial Statements for additional information regarding indebtedness. Unconditional purchase obligations – As of December 31, 2025, the Company had approximately $161.6 million of outstanding purchase obligations payable during the year ending December 31, 2026. The Company's unconditional purchase obligations are primarily payable within 12 months. Other short-term and long-term obligations – As of December 31, 2025, the Company has approximately $3.8 million of income tax liabilities related to uncertain income tax provisions connected with ongoing income tax audits in various jurisdictions that it expects to pay or settle within the next 12 months. These liabilities and related income tax audits are subject to statutory expiration. Additionally, we currently expect that we will contribute $2.4 million to our non-U.S. defined benefit pension and postretirement plans due during the year ending December 31, 2026. The timing and amounts of future contributions are dependent upon the funding status of the plans, which is expected to vary as a result of changes in interest rates, returns on underlying assets, and other factors. Refer to Note 19 and Note 20 of the Consolidated Financial Statements for additional information regarding the Company’s uncertain tax positions and pension and postretirement benefit plans, respectively. These obligations comprise a majority of the Company’s other short-term and long-term obligations. Off-Balance Sheet Arrangements Guarantees At December 31, 2025, the Company had outstanding guarantees issued to its Argentine finance joint venture, AGCO Capital Argentina S.A. (“AGCO Capital”) of approximately $82.6 million. Such guarantees generally obligate the Company to repay outstanding finance obligations owed to AGCO Capital if end users default on such loans to the extent that, due to non- credit risk, the end users are not able, or not required, to pay their loans, or are required to pay in a different currency than the one agreed in their loan. The Company also has obligations to guarantee indebtedness owed to certain of its finance joint ventures if dealers or end users default on loans. Losses under such guarantees historically have been insignificant. The Company believes the credit risk associated with these guarantees is not material. In addition, at December 31, 2025, the Company accrued approximately $11.6 million of outstanding guarantees of residual values that may be owed to its finance joint ventures in the United States and Canada upon expiration of certain eligible operating leases between the finance joint ventures and end users. The maximum potential amount of future payments under the guarantees is approximately $224.1 million. Other The Company sells a majority of its wholesale receivables in North America, Europe and Brazil to its U.S., Canadian, European and Brazilian finance joint ventures. The Company also sells certain accounts receivable under factoring arrangements to financial institutions around the world. The Company accounts for the sale of such receivables as off-balance sheet transactions. Refer to Note 5 for discussion of the Company’s accounts receivable sales agreements. Contingencies During 2017, the Company purchased Precision Planting, which provides precision agricultural technology solutions. In 2018, Deere & Company (“Deere”) filed separate complaints in the U.S. District Court of Delaware against the Company and Precision Planting alleging that certain products of those entities infringed certain patents of Deere. The two complaints AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 107

subsequently were consolidated into a single case, Case No. 1:18-cv-00827-CFC. In July 2022, the case was tried before a jury, which determined that the Company and Precision Planting had not infringed the Deere patents. Following customary post-trial procedures, the Court entered a judgment in the Company’s favor, and Deere appealed the judgment to the U.S. Court of Appeals for the Federal Circuit. On January 24, 2025, the Court ruled in favor of the Company and Precision Planting. Deere did not file for a writ of certiorari from the U.S. Supreme Court within the required time period, and, as a result, the District Court judgment is final. The Company is a party to various other legal claims and actions incidental to its business. The Company believes that none of these claims or actions, either individually or in the aggregate, is material to its business or financial statements as a whole, including its results of operations and financial condition. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 108

23. LEASES Total lease assets and liabilities at December 31, 2025 and 2024 were as follows (in millions): Lease Assets Classification As of December 31, 2025 As of December 31, 2024 Operating ROU assets .......... Right-of-use lease assets $ 167.3 $ 168.9 Finance lease assets .............. Property, plant and equipment, net(1) 6.5 6.1 Total lease assets ............. $ 173.8 $ 175.0 Lease Liabilities Classification As of December 31, 2025 As of December 31, 2024 Current: Operating ........................... Accrued expenses $ 47.9 $ 45.0 Finance ............................... Other current liabilities 0.3 0.5 Noncurrent: Operating ........................... Operating lease liabilities 122.1 127.5 Finance ............................... Other noncurrent liabilities 5.7 5.1 Total lease liabilities ........ $ 176.0 $ 178.1 ____________________________________ (1) Finance lease assets are recorded net of accumulated depreciation of $3.0 million and $2.8 million as of December 31, 2025 and 2024, respectively. Total lease costs for 2025 and 2024 are set forth below (in millions): Classification Year Ended December 31, 2025 Year Ended December 31, 2024 Operating lease cost .............. Selling, general and administrative expenses $ 62.2 $ 59.6 Variable lease cost ................ Selling, general and administrative expenses 5.2 4.8 Short-term lease cost ............. Selling, general and administrative expenses 18.5 23.4 Finance lease cost: Amortization of lease assets .................................. Depreciation expense(1) 0.4 0.5 Interest on lease liabilities .. Interest expense, net 0.2 0.2 Total lease cost ..................... $ 86.5 $ 88.5 ____________________________________ (1) Depreciation expense was included in both “Cost of goods sold” and “Selling, general and administrative expenses” within the Company's Consolidated Statements of Operations. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 109

Lease payment amounts for operating and finance leases with remaining terms greater than one year as of December 31, 2025 were as follows (in millions): December 31, 2025 Operating Leases(1) Finance Leases 2026 .................................................................................................................................... $ 55.5 $ 0.6 2027 .................................................................................................................................... 40.5 0.4 2028 .................................................................................................................................... 31.8 0.3 2029 .................................................................................................................................... 23.5 0.3 2030 .................................................................................................................................... 11 0.2 Thereafter ............................................................................................................................ 37.5 6.0 Total lease payments .......................................................................................................... 199.8 7.8 Less: imputed interest(2) .................................................................................................... (29.9) (2.0) Present value of lease liabilities .......................................................................................... $ 169.9 $ 5.8 ____________________________________ (1) Operating lease payments include options to extend or terminate at the Company's sole discretion, which are included in the determination of lease term when they are reasonably certain to be exercised. (2) Calculated using the implicit interest rate for each lease or the Company’s incremental borrowing rate, when implicit rate is not available. Lease payment amounts for operating and finance leases with remaining terms greater than one year as of December 31, 2024 were as follows (in millions): December 31, 2024 Operating Leases(1) Finance Leases 2025 .................................................................................................................................... $ 53.3 $ 0.7 2026 .................................................................................................................................... 43.9 0.5 2027 .................................................................................................................................... 29.7 0.4 2028 .................................................................................................................................... 22.6 0.3 2029 .................................................................................................................................... 15.2 0.2 Thereafter ............................................................................................................................ 42.2 5.5 Total lease payments .......................................................................................................... 206.9 7.6 Less: imputed interest(2) .................................................................................................... (34.4) (2.0) Present value of lease liabilities .......................................................................................... $ 172.5 $ 5.6 ____________________________________ (1) Operating lease payments include options to extend or terminate at the Company's sole discretion, which are included in the determination of lease term when they are reasonably certain to be exercised. (2) Calculated using the implicit interest rate for each lease or the Company’s incremental borrowing rate, when implicit rate is not available. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 110

The following table summarizes the weighted-average remaining lease term and weighted-average discount rate: As of December 31, 2025 As of December 31, 2024 Weighted-average remaining lease term: Operating leases ........................................................................................... 6 years 6 years Finance leases ............................................................................................... 16 years 16 years Weighted-average discount rate: Operating leases ........................................................................................... 6.3 % 6.4 % Finance leases ............................................................................................... 2.9 % 2.8 % The following table summarizes the supplemental cash flow information for 2025 and 2024 (in millions): Year Ended December 31, 2025 Year Ended December 31, 2024 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases ................................................ $ 62.2 $ 59.5 Operating cash flows from finance leases .................................................... 0.1 0.1 Financing cash flows from finance leases .................................................... 0.7 1.0 Leased assets obtained in exchange for lease obligations: Operating leases ........................................................................................... $ 38.2 $ 61.9 Finance leases ............................................................................................... 0.5 0.2 AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 111

24. REVENUE Contract Liabilities Contract liabilities primarily relate to the following: (1) unrecognized revenues where payment of consideration precedes the Company’s performance with respect to extended warranty and maintenance contracts and where the performance obligation is satisfied over time and (2) unrecognized revenues where payment of consideration precedes the Company’s performance with respect to precision agriculture technology services and where the performance obligation is satisfied over time. The following table summarizes the balance of contract liabilities as of December 31, 2025 and 2024 (in millions): 2025 2024 Contract liabilities ............................................................................................................ $ 386.1 $ 341.5 The contract liabilities are classified as either “Accrued Expenses” or “Other current liabilities” and “Other noncurrent liabilities” in the Company’s Consolidated Balance Sheets. In 2025, the Company recognized approximately $164.9 million of revenue that was recorded as a contract liability at the beginning of 2025. In 2024, the Company recognized approximately $139.2 million of revenue that was recorded as a contract liability at the beginning of 2024. Remaining Performance Obligations The estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 31, 2025 are $157.0 million in 2026, $116.5 million in 2027, $64.0 million in 2028, $30.6 million in 2029 and $9.9 million thereafter, and relate primarily to extended warranty contracts. The Company applied the practical expedient in ASU 2014-09 and has not disclosed information about remaining performance obligations that have original expected durations of 12 months or less. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 112

Disaggregated Revenue Net sales for the year ended December 31, 2025 disaggregated by primary geographical markets and major products consisted of the following (in millions): North America South America Europe/ Middle East Asia/ Pacific/Africa Consolidated Primary geographical markets: United States ........................................ $ 1,234.4 $ — $ — $ — $ 1,234.4 Canada .................................................. 326.7 — — — 326.7 Germany ............................................... — — 1,645.9 — 1,645.9 France ................................................... — — 1,321.3 — 1,321.3 United Kingdom and Ireland ................ — — 559.2 — 559.2 Finland and Scandinavia ...................... — — 798.1 — 798.1 Italy ....................................................... — — 456.0 — 456.0 Other Europe ........................................ — — 1,678.1 — 1,678.1 Brazil .................................................... — 825.1 — — 825.1 Other South America ............................ — 279.6 — — 279.6 Middle East and Algeria ....................... — — 278.1 — 278.1 Africa .................................................... — — — 109.4 109.4 Asia ....................................................... — — — 164.7 164.7 Australia and New Zealand .................. — — — 290.1 290.1 Mexico, Central America and Caribbean ............................................. 104.4 10.9 — — 115.3 $ 1,665.5 $ 1,115.6 $ 6,736.7 $ 564.2 $ 10,082.0 Major products: Tractors ................................................. $ 657.2 $ 734.4 $ 4,942.3 $ 359.1 $ 6,693.0 Replacement parts ................................ 381.1 157.1 1,227.6 107.5 1,873.3 Grain storage and protein production systems ................................................. — — — 1.3 1.3 Combines, application equipment and other machinery .................................... 627.2 224.1 566.8 96.3 1,514.4 $ 1,665.5 $ 1,115.6 $ 6,736.7 $ 564.2 $ 10,082.0 AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 113

Net sales for the year ended December 31, 2024 disaggregated by primary geographical markets and major products consisted of the following (in millions): North America South America Europe/ Middle East Asia/Pacific/ Africa Total Segments Other(1) Consolidated Primary geographical markets: United States ................. $ 1,757.0 $ — $ — $ — $ 1,757.0 $ 471.9 $ 2,228.9 Canada .......................... 426.2 — — — 426.2 62.4 488.6 Germany ....................... — — 1,721.8 — 1,721.8 11.5 1,733.3 France ........................... — — 1,378.2 — 1,378.2 5.3 1,383.5 United Kingdom and Ireland ........................... — — 535.0 — 535.0 5.4 540.4 Finland and Scandinavia ................... — — 772.0 — 772.0 6.8 778.8 Italy ............................... — — 363.7 — 363.7 22.9 386.6 Other Europe ................. — — 1,512.7 — 1,512.7 44.4 1,557.1 Brazil ............................ — 882.1 — — 882.1 81.6 963.7 Other South America .... — 316.5 — — 316.5 22.1 338.6 Middle East and Algeria .......................... — — 428.9 — 428.9 4.3 433.2 Africa ............................ — — — 98.5 98.5 10.1 108.6 Asia ............................... — — — 217.3 217.3 41.6 258.9 Australia and New Zealand ......................... — — — 310.5 310.5 4.8 315.3 Mexico, Central America and Caribbean 115.1 9.9 — — 125.0 21.4 146.4 $ 2,298.3 $ 1,208.5 $ 6,712.3 $ 626.3 $ 10,845.4 $ 816.5 $ 11,661.9 Major products: Tractors ......................... $ 922.6 $ 781.2 $ 4,965.3 $ 390.2 $ 7,059.3 $ — $ 7,059.3 Replacement parts ......... 409.5 159.4 1,156.5 102.4 1,827.8 — 1,827.8 Grain storage and protein production systems .......................... — — — 16.0 16.0 816.5 832.5 Combines, application equipment and other machinery ..................... 966.2 267.9 590.5 117.7 1,942.3 — 1,942.3 $ 2,298.3 $ 1,208.5 $ 6,712.3 $ 626.3 $ 10,845.4 $ 816.5 $ 11,661.9 __________________________________ (1) “Other” represents the results for the year ended December 31, 2024 for the majority of the Company’s G&P business which was divested on November 1, 2024. The results of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 114

Net sales for the year ended December 31, 2023 disaggregated by primary geographical markets and major products consisted of the following (in millions): North America South America(1) Europe/ Middle East Asia/Pacific/ Africa(1) Total Segments Other(2) Consolidated Primary geographical markets: United States ................. $ 2,433.9 $ — $ — $ — $ 2,433.9 $ 527.6 $ 2,961.5 Canada .......................... 573.7 — — — 573.7 64.2 637.9 Germany ....................... — — 1,736.4 — 1,736.4 13.1 1,749.5 France ........................... — — 1,487.5 — 1,487.5 6.8 1,494.3 United Kingdom and Ireland ........................... — — 693.4 — 693.4 9.7 703.1 Finland and Scandinavia ................... — — 824.1 — 824.1 13.2 837.3 Italy ............................... — — 427.6 — 427.6 29.5 457.1 Other Europe ................. — — 1,793.7 — 1,793.7 77.8 1,871.5 Brazil ............................ — 1,726.2 — — 1,726.2 134.1 1,860.3 Other South America .... — 340.9 — — 340.9 17.2 358.1 Middle East and Algeria .......................... — — 422.5 — 422.5 5.2 427.7 Africa ............................ — — — 127.9 127.9 16.4 144.3 Asia ............................... — — — 294.0 294.0 68.7 362.7 Australia and New Zealand ......................... — — — 371.2 371.2 6.8 378.0 Mexico, Central America and Caribbean 130.6 11.1 — — 141.7 27.4 169.1 $ 3,138.2 $ 2,078.2 $ 7,385.2 $ 793.1 $ 13,394.7 $ 1,017.7 $ 14,412.4 Major products: Tractors ......................... $ 1,402.3 $ 1,288.4 $ 5,532.9 $ 487.4 $ 8,711.0 $ — $ 8,711.0 Replacement parts ......... 421.0 167.5 1,124.7 102.8 1,816.0 — 1,816.0 Grain storage and protein production systems .......................... — — — 44.9 44.9 1,017.7 1,062.6 Combines, application equipment and other machinery ..................... 1,314.9 622.4 727.6 157.9 2,822.8 — 2,822.8 $ 3,138.2 $ 2,078.2 $ 7,385.2 $ 793.1 $ 13,394.7 $ 1,017.7 $ 14,412.4 ____________________________________ (1) Rounding may impact the summation of amounts. (2) “Other” represents the results for the year ended December 31, 2023 for the majority of the Company’s G&P business which was divested on November 1, 2024. The results of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 115

25. SEGMENT REPORTING The Company has four operating segments which are also its reportable segments which consist of the North America, South America, Europe/Middle East and Asia/Pacific/Africa regions. The Company’s reportable segments are geography based and distribute a full range of agricultural machinery and precision agriculture technology. The Company’s Chief Operating Decision Maker (“CODM”), Eric P. Hansotia, Chairman of the Board, President and Chief Executive Officer, evaluates segment performance primarily based on income from operations. The CODM utilizes income from operations to evaluate each segment’s performance including the allocation of resources. Sales for each segment are based on the location of the third-party customer. The Company’s selling, general and administrative expenses and engineering expenses are charged to each segment based on the region and division where the expenses are incurred. As a result, the components of income (loss) from operations for one segment may not be comparable to another segment. Segment results for the years ended December 31, 2025, 2024 and 2023 based on the Company’s reportable segments are as follows (in millions): AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 116

Years Ended December 31, North America South America Europe/ Middle East Asia/ Pacific/ Africa Total Segments Other(1) Total 2025 Net sales ....................................... $ 1,665.5 $ 1,115.6 $ 6,736.7 $ 564.2 $ 10,082.0 $ — $ 10,082.0 Cost of goods sold ........................ 1,303.4 901.4 4,857.6 452.8 7,515.2 — 7,515.2 Selling, general and administrative expenses ............... 335.2 121.3 575.9 72.7 1,105.1 — 1,105.1 Engineering expenses ................... 138.9 41.5 296.4 10.9 487.7 — 487.7 Income (loss) from operations ..... $ (112.0) $ 51.4 $ 1,006.8 $ 27.8 $ 974.0 $ — $ 974.0 Depreciation ................................. $ 58.5 $ 32.9 $ 153.9 $ 11.2 $ 256.5 $ — $ 256.5 Assets ........................................... 1,409.9 1,052.0 2,907.6 606.6 5,976.1 — 5,976.1 Capital expenditures ..................... 41.4 30.0 173.1 3.4 247.9 — 247.9 2024 Net sales(2) ..................................... $ 2,298.3 $ 1,208.5 $ 6,712.3 $ 626.3 $ 10,845.4 $ 816.5 $ 11,661.9 Cost of goods sold ........................ 1,750.1 975.3 4,913.4 494.9 8,133.7 629.1 8,762.8 Selling, general and administrative expenses ............... 333.8 101.0 553.8 88.7 1,077.3 90.2 1,167.5 Engineering expenses ................... 130.4 45.2 283.8 11.5 470.9 22.1 493.0 Income from operations(3) ............. $ 84.0 $ 87.0 $ 961.3 $ 31.2 $ 1,163.5 $ 75.1 $ 1,238.6 Depreciation ................................. $ 58.4 $ 34.1 $ 136.9 $ 14.9 $ 244.3 $ 6.9 $ 251.2 Assets ........................................... 1,527.9 946.9 2,841.4 697.7 6,013.9 — 6,013.9 Capital expenditures ..................... 61.1 43.7 276.9 3.5 385.2 8.1 393.3 2023 Net sales(4) ..................................... $ 3,138.2 $ 2,078.2 $ 7,385.2 $ 793.1 $ 13,394.7 $ 1,017.7 $ 14,412.4 Cost of goods sold ........................ 2,311.0 1,520.3 5,383.5 626.8 9,841.6 793.4 10,635.0 Selling, general and administrative expenses ............... 299.0 148.0 568.1 76.2 1,091.3 113.7 1,205.0 Engineering expenses ................... 130.1 52.1 323.6 11.6 517.4 31.4 548.8 Income from operations(5) ............. $ 398.1 $ 357.8 $ 1,110.0 $ 78.5 $ 1,944.4 $ 79.2 $ 2,023.6 Depreciation ................................. $ 51.9 $ 33.6 $ 114.1 $ 16.7 $ 216.3 $ 14.1 $ 230.4 Assets ........................................... 1,624.7 1,328.5 2,949.6 777.4 6,680.2 490.5 7,170.7 Capital expenditures ..................... 113.2 72.1 309.9 4.2 499.4 18.7 518.1 ____________________________________ (1) “Other” represents the results for the years ended December 31, 2024 and 2023 for the majority of the Company’s Grain & Protein (“G&P”) business which was divested on November 1, 2024. The results of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments. (2) Of the $816.5 million of the net sales of the divested G&P business recast to “Other”, $552.0 million, $107.4 million, $100.6 million and $56.5 million were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments, respectively. (3) Of the $75.1 million of the income (loss) from operations of the divested G&P business recast to “Other”, $91.8 million, $17.4 million, $(35.6) million and $1.5 million were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments, respectively. (4) Of the $1,017.7 million of the net sales of the divested G&P business recast to “Other”, $614.5 million, $156.0 million, $155.3 million and $91.9 million were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments, respectively. (5) Of the $79.2 million of the income (loss) from operations of the divested G&P business recast to “Other”, $61.2 million, $28.6 million, $(9.4) million and $(1.2) million were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments, respectively. AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 117

A reconciliation from the segment information to the consolidated balances for income (loss) from operations and total assets is set forth below (in millions): 2025 2024 2023 Segment income from operations ......................................................... $ 974.0 $ 1,163.5 $ 1,944.4 Other(1) ................................................................................................... — 75.1 79.2 Corporate expenses ............................................................................... (176.5) (212.3) (204.9) Amortization of intangibles .................................................................. (71.1) (81.0) (57.7) Stock compensation expense ................................................................ (27.7) (17.9) (44.6) Impairment charges .............................................................................. (10.0) (369.5) (4.1) Restructuring and business optimization expenses ............................... (82.2) (172.7) (11.9) Loss on sale of business ........................................................................ (10.8) (507.3) — Consolidated income (loss) from operations ........................................ $ 595.7 $ (122.1) $ 1,700.4 Segment assets ...................................................................................... $ 5,976.1 $ 6,013.9 $ 6,680.2 Other(1) ................................................................................................... — — 490.5 Cash and cash equivalents .................................................................... 861.8 612.7 595.5 Investments in affiliates ........................................................................ 609.9 519.6 512.7 Deferred tax assets, other current and noncurrent assets ...................... 1,908.2 1,495.1 1,500.1 Intangible assets, net ............................................................................. 673.0 728.9 308.8 Goodwill ............................................................................................... 1,898.8 1,820.4 1,333.4 Consolidated total assets ....................................................................... $ 11,927.8 $ 11,190.6 $ 11,421.2 ____________________________________ (1) “Other” represents the results for the years ended and assets as of December 31, 2024 and 2023 for the majority of the Company’s G&P business which was divested on November 1, 2024. The results and assets of the G&P business through the date of the divestiture were previously included within our North America, South America, Europe/Middle East and Asia/Pacific/Africa segments. Property, plant and equipment, right-of-use lease assets and amortizable intangible assets by country as of December 31, 2025 and 2024 were as follows (in millions): 2025 2024 United States ........................................................................................................................ $ 863.6 $ 945.8 Germany ............................................................................................................................... 738.3 658.4 Brazil .................................................................................................................................... 220.4 200.6 Finland ................................................................................................................................. 339.4 282.2 France ................................................................................................................................... 162.3 163.8 Italy ...................................................................................................................................... 91.6 86.0 China .................................................................................................................................... 56.6 59.1 Denmark ............................................................................................................................... 5.6 5.2 Other .................................................................................................................................... 270.9 231.5 $ 2,748.7 $ 2,632.6 AGCO CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued) 118

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure None. Item 9A. Controls and Procedures The Company’s management, including the Chief Executive Officer and the Chief Financial Officer, does not expect that the Company’s disclosure controls or the Company’s internal controls will prevent all errors and all fraud. However, our principal executive officer and principal financial officer have concluded the Company’s disclosure controls and procedures are effective at the reasonable assurance level. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Because of the inherent limitations in a cost effective control system, misstatements due to error or fraud may occur and not be detected. We will conduct periodic evaluations of our internal controls to enhance, where necessary, our procedures and controls. Evaluation of Disclosure Controls and Procedures Our Chief Executive Officer and Chief Financial Officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended) as of December 31, 2025, have concluded that, as of such date, our disclosure controls and procedures were effective at the reasonable assurance level. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Management’s Annual Report on Internal Control over Financial Reporting Management of the Company is responsible for establishing and maintaining effective internal control over financial reporting as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934. The Company’s internal control over financial reporting is designed to provide reasonable assurance to the Company’s management and Board of Directors regarding the preparation and fair presentation of published financial statements for external purposes in accordance with generally accepted accounting principles. In assessing the effectiveness of the Company’s internal control over financial reporting, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in “Internal Control — Integrated Framework (2013).” Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2025. Based on this assessment, management believes that, as of December 31, 2025, the Company’s internal control over financial reporting is effective based on the criteria referred to above. The effectiveness of the Company’s internal control over financial reporting as of December 31, 2025 has been audited by KPMG LLP, an independent registered public accounting firm, which also audited the Company’s Consolidated Financial Statements as of and for the year ended December 31, 2025. KPMG LLP’s report on internal control over financial reporting is set forth below. Changes in Internal Control over Financial Reporting There were no changes in our internal control over financial reporting that occurred during the quarter ended December 31, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 119

Report of Independent Registered Public Accounting Firm To the Stockholders and Board of Directors AGCO Corporation: Opinion on Internal Control Over Financial Reporting We have audited AGCO Corporation and subsidiaries’ (the Company) internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of the Company as of December 31, 2025 and 2024, the related consolidated statements of operations, comprehensive income (loss), stockholders’ equity, and cash flows for each of the years in the three- year period ended December 31, 2025, and the related notes (collectively, the consolidated financial statements), and our report dated February 13, 2026 expressed an unqualified opinion on those consolidated financial statements. Basis for Opinion The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Annual Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audit also included performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Definition and Limitations of Internal Control Over Financial Reporting A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. /s/ KPMG LLP Atlanta, Georgia February 13, 2026 120

Item 9B. Other Information During the three months ended December 31, 2025, none of our directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934, as amended) adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K of the Securities Act of 1933). Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections Not applicable. PART III The information called for by Items 10, 11, 12, 13 and 14, if any, will be contained in our Proxy Statement for the 2026 Annual Meeting of Stockholders, which we intend to file in March 2026. Item 10. Directors, Executive Officers and Corporate Governance The information with respect to directors and committees required by this Item set forth in our Proxy Statement for the 2026 Annual Meeting of Stockholders in the sections entitled “Proposal Number 1 — Election of Directors” and “Board of Directors and Corporate Governance” is incorporated herein by reference. The information with respect to executive officers required by this Item set forth in our Proxy Statement for the 2026 Annual Meeting of Stockholders in the section entitled “Certain Officers” is incorporated herein by reference. See the information under the heading “Available Information” set forth in Part I of this Form 10-K. The code of conduct referenced therein applies to our principal executive officer, principal financial officer, principal accounting officer and the persons performing similar functions. We have adopted an insider trading policy governing the purchase, sale and other disposition of our securities by our directors, officers, and employees, and by the Company. We believe this policy is reasonably designed to promote compliance with insider trading laws, rules, and regulations and listing standards applicable to the Company. A copy of our insider trading policy is filed as Exhibit 19 to this Annual Report on Form 10-K. Item 11. Executive Compensation The information with respect to executive compensation and its establishment required by this Item set forth in our Proxy Statement for the 2026 Annual Meeting of Stockholders in the sections entitled “Board of Directors and Corporate Governance,” “2025 CEO Pay Ratio,” “Certain Officers” and “Talent and Compensation Committee Report” is incorporated herein by reference. 121

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters (a) Securities Authorized for Issuance Under Equity Compensation Plans AGCO maintains its Plan pursuant to which we may grant equity awards to eligible persons. For additional information, refer to Note 15, “Stock Compensation Plans,” in the Notes to the Consolidated Financial Statements included in this filing. The following table gives information about equity awards under our Plan. (a) (b) (c) Plan Category Number of Securities to be Issued upon Exercise of Outstanding Awards Under the Plans Weighted-Average Exercise Price of Outstanding Awards Under the Plans Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) Equity compensation plans approved by security holders ............................................. 1,037,677 $ 113.16 7,220,463 Equity compensation plans not approved by security holders ............................................. — — — Total .............................................................. 1,037,677 $ 113.16 7,220,463 (b) Security Ownership of Certain Beneficial Owners and Management The information required by this Item set forth in our Proxy Statement for the 2026 Annual Meeting of Stockholders in the section entitled “Principal Holders of Common Stock” is incorporated herein by reference. Item 13. Certain Relationships and Related Party Transactions, and Director Independence The information required by this Item set forth in our Proxy Statement for the 2026 Annual Meeting of Stockholders in the section entitled “Certain Relationships and Related Party Transactions” is incorporated herein by reference. Item 14. Principal Accounting Fees and Services The information required by this Item set forth in our Proxy Statement for the 2026 Annual Meeting of Stockholders in the sections entitled “Audit Committee Report” and “Board of Directors and Corporate Governance” is incorporated herein by reference. 122

PART IV Item 15. Exhibits and Financial Statement Schedules The following documents are filed as part of this Form 10-K: (1) The Consolidated Financial Statements, Notes to Consolidated Financial Statements, Report of Independent Registered Public Accounting Firm for AGCO Corporation are presented under Item 8 of this Form 10-K. All schedules have been omitted because the required information is contained in Notes to the Consolidated Financial Statements or because such schedules are not required or are not applicable. (2) The following exhibits are filed or incorporated by reference as part of this report. Each management contract or compensation plan required to be filed as an exhibit is identified by an asterisk (*). The exhibits below may not include all instruments defining the rights of holders of long-term debt where the debt does not exceed 10% of the Company’s total assets. The Company agrees to furnish copies of those instruments to the Commission upon request. Exhibit Number Description of Exhibit The Filings Referenced for Incorporation by Reference are AGCO Corporation 2.1 Amended and Restated Sale and Contribution Agreement April 1, 2024, Form 8-K, Exhibit 2.1 2.2 Stock and Asset Purchase Agreement, dated July 25, 2024, by and among AGCO, Massey Ferguson Corp. and Purchaser July 25, 2024, Form 8-K, Exhibit 2.1 3.1 Certificate of Incorporation June 30, 2002, Form 10-Q, Exhibit 3.1 3.2 Bylaws October 31, 2022, Form 8-K, Exhibit 3.1 4.1 Description of Securities March 1, 2021, Form 10-K, Exhibit 4.1 4.2 Indenture, dated as of October 6, 2021 October 7, 2021, Form 8-K, Exhibit 4.1 4.3 Senior Note Indenture March 21, 2024, Form 8-K, Exhibit 4.1 4.4 First Supplemental Indenture for the 2027 Notes and 2034 Notes March 21, 2024, Form 8-K, Exhibit 4.2 10.1 2006 Long-Term Incentive Plan* September 30, 2017, Form 10-Q, Exhibit 10.5 10.2 Amendment to 2006 Long-Term Incentive Plan* November 7, 2024, Form 10-Q, Exhibit 10.1 10.3 AGCO Corporation Employee Stock Purchase Plan* March 24, 2025, DEF 14A, Appendix 10.4 2006 Form of Stock Appreciation Rights Agreement* March 31, 2006, Form 10-Q, Exhibit 10.4 10.5 2019 Form of Stock Appreciation Rights Agreement* January 22, 2019, Form 8-K, Exhibit 10.2 10.6 2023 Form of Stock Appreciation Rights Agreement* January 13, 2023, Form 8-K, Exhibit 10.3 10.7 2023 Form of Restricted Stock Units Agreement* January 13, 2023, Form 8-K, Exhibit 10.2 10.8 2024 Form of Restricted Stock Units Agreement* February 2, 2024, Form 8-K, Exhibit 10.1 10.9 2025 Form of Restricted Stock Units Agreement* January 31, 2025, Form 8-K, Exhibit 10.1 10.10 2026 Form of Restricted Stock Units Agreement* January 30, 2026, Form 8-K, Exhibit 10.1 10.11 2023 Form of Performance Share Agreement* January 13, 2023, Form 8-K, Exhibit 10.1 10.12 2024 Form of Performance Share Agreement* February 2, 2024, Form 8-K, Exhibit 10.2 10.13 2025 Form of Performance Share Agreement* January 31, 2025, Form 8-K, Exhibit 10.2 10.14 2026 Form of Performance Share Agreement* January 30, 2026, Form 8-K, Exhibit 10.2 10.15 Amended and Restated Executive Nonqualified Pension Plan* April 12, 2021, Form 8-K, Exhibit 10.1 10.16 Annual Incentive Plan* August 9, 2022, Form 10-Q, Exhibit 10.2 123

Exhibit Number Description of Exhibit The Filings Referenced for Incorporation by Reference are AGCO Corporation 10.17 Executive Nonqualified Defined Contribution Plan* December 31, 2015, Form 10-K, Exhibit 10.9 10.18 First Amendment of AGCO Corporation Executive Non- Qualified Defined Contribution Plan* December 6, 2024, Form 8-K, Exhibit 10.1 10.19 Amended and Restated Employment and Severance Agreement with Eric P. Hansotia* Filed herewith 10.20 Employment and Severance Agreement with Damon J. Audia* June 15, 2022, Form 8-K, Exhibit 10.1 10.21 Employment and Severance Agreement with Torsten Dehner* February 25, 2022, Form 10-K, Exhibit 10.13 10.22 Employment and Severance Agreement with Luis F.S. Felli* February 27, 2024, Form 10-K, Exhibit 10.18 10.23 Employment and Severance Agreement with Timothy O. Millwood* February 24, 2025, Form 10-K, Exhibit 10.24 10.24 Credit Agreement dated as of June 27, 2022 August 9, 2022, Form 10-Q, Exhibit 10.1 10.25 Credit Agreement dated as of December 19, 2022 December 21, 2022, Form 8-K, Exhibit 10.1 10.26 First Amendment to 2022 Credit Agreement dated as of December 12, 2023 February 27, 2024, Form 10-K, Exhibit 10.22 10.27 Second Amendment to 2022 Credit Agreement dated as of March 25, 2024 May 3, 2024, Form 10-Q, Exhibit 10.1 10.28 Third Amendment to 2022 Credit Agreement dated as of May 22, 2025 July 31, 2025, Form 10-Q, Exhibit 10.9 10.29 European Investment Bank Senior Term Loan dated as of September 29, 2023 November 8, 2023, Form 10-Q, Exhibit 10.2 10.30 European Investment Bank Senior Term Loan dated as of January 25, 2024 February 27, 2024, Form 10-K, Exhibit 10.24 10.31 Arbitrations Settlement Agreement, dated as of June 30, 2025, by and between AGCO Corporation, AGCO International GmbH, Tractors and Farm Equipment Limited and TAFE International Traktör ve Tarim Ekipmani Sanayi ve Ticaret Limited Sirketi July 1, 2025, Form 8-K, Exhibit 10.2 10.32 India Litigation Settlement Agreement, dated as of June 30, 2025, by and amongst Tractors and Farm Equipment Limited, AGCO Corporation and the other parties thereto July 1, 2025, Form 8-K, Exhibit 10.3 10.33 Intellectual Property Agreement, dated as of June 30, 2025, by and amongst Tractors and Farm Equipment Limited, Massey Ferguson Corp., AGCO Corporation, AGCO International GmbH, and AGCO Limited July 1, 2025, Form 8-K, Exhibit 10.4 10.34 Buyback Agreement, dated as of June 30, 2025, by and amongst Tractors and Farm Equipment Limited and AGCO Holding B.V. and Trust Properties Development Company Private Limited July 1, 2025, Form 8-K, Exhibit 10.5 10.35 Cooperation Agreement, dated as of June 30, 2025, by and among AGCO Corporation and Tractors and Farm Equipment Limited July 1, 2025, Form 8-K, Exhibit 10.6 10.36 Current Director Compensation* Filed herewith 19.1 AGCO Corporation Insider Trading Policy Amended as of April 24, 2025 July 31, 2025, Form 10-Q, Exhibit 19.1 21.1 Subsidiaries of the Registrant Filed herewith 22.1 List of Subsidiary Guarantors Filed herewith 23.1 Consent of KPMG LLP Filed herewith 24.1 Powers of Attorney Filed herewith 31.1 Certification of Eric P. Hansotia Filed herewith 31.2 Certification of Damon Audia Filed herewith 32.1 Certification of Eric P. Hansotia and Damon Audia Furnished herewith 124

Exhibit Number Description of Exhibit The Filings Referenced for Incorporation by Reference are AGCO Corporation 97.1 Compensation Recovery Policy* February 27, 2024, Form 10-K, Exhibit 97.1 101 The following audited financial information from this Annual Report on Form 10-K for the year ended December 31, 2025, are formatted in Inline XBRL: (i) Consolidated Statements of Operations; (ii) Consolidated Statements of Comprehensive Income (Loss); (iii) Consolidated Balance Sheets; (iv) Consolidated Statements of Stockholders’ Equity; (v) Consolidated Statements of Cash Flows; and (vi) Notes to Consolidated Financial Statements. Filed herewith 104 Cover Page Interactive Data File - the cover page from this Annual Report on Form 10-K for the year ended December 31, 2025 is formatted in Inline XBRL Filed herewith Item 16. Form 10-K Summary None. 125

SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. AGCO Corporation By: /s/ Eric P. Hansotia Eric P. Hansotia Dated: February 13, 2026 Chairman of the Board, President and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant in the capacities and on the date indicated. Signature Title Date /s/ Eric P. Hansotia Chairman of the Board, President and Chief Executive Officer February 13, 2026 Eric P. Hansotia /s/ Damon Audia Senior Vice President and Chief Financial Officer (Principal Financial Officer) February 13, 2026 Damon Audia /s/ Indira Agarwal Vice President, Chief Accounting Officer (Principal Accounting Officer) February 13, 2026 Indira Agarwal /s/ Michael C. Arnold* Director February 13, 2026 Michael C. Arnold /s/ Sondra L. Barbour* Director February 13, 2026 Sondra L. Barbour /s/ Suzanne P. Clark* Director February 13, 2026 Suzanne P. Clark /s/ Bob De Lange* Director February 13, 2026 Bob De Lange /s/ Zhanna Golodryga* Director February 13, 2026 Zhanna Golodryga /s/ Niels Pörksen* Director February 13, 2026 Niels Pörksen /s/ David Sagehorn* Director February 13, 2026 David Sagehorn /s/ Matthew Tsien* Director February 13, 2026 Matthew Tsien *By: /s/ Damon Audia February 13, 2026 Damon Audia Attorney-in-Fact 126

Forward-looking statements This annual report includes forward-looking statements, including the statements in the CEO Message and other statements in this report, regarding market demand, strategic initiatives, commitments and their effects, and general economic conditions. These statements are subject to risks that could cause actual results to differ materially from those suggested by the statements, including: • Our financial results depend entirely upon the agricultural industry, so factors that adversely affect the agricultural industry, including declines in the general economy, adverse weather, tariffs, increases in farm input costs, lower commodity prices, lower farm income and changes in the availability of credit for our retail customers, will adversely affect us. • We maintain an independent dealer and distribution network in the markets where we sell products. The financial and operational capabilities of our dealers and distributors are critical to our ability to compete in these markets. Higher inventory levels at our dealers and high utilization of dealer credit limits, as well as the financial health of our dealers, could negatively impact future sales and adversely impact our performance. • On April 1, 2024, we completed the acquisition of the ag assets and technologies of Trimble through the formation of a joint venture, PTx Trimble, of which we own 85%. Financing the PTx Trimble transaction significantly increased our indebtedness and interest expense. We also have made various assumptions relating to the acquisition that may not prove to be correct, and we may fail to realize all of the anticipated benefits of the acquisition. All acquisitions involve risk, and there is no certainty that the acquired business will operate as expected. Each of these items, as well as similar acquisition-related items, would adversely impact our performance. • A majority of our sales and manufacturing takes place outside the United States, and many of our sales involve products that are manufactured in one country and sold in a different country. As a result, we are exposed to risks related to foreign laws, taxes and tariffs, trade restrictions, economic conditions, labor supply and relations, political conditions and governmental policies. The recent announcements of significant trade policy and tariff actions by the U.S. government, including but not limited to tariffs on imported steel and aluminum products, tariffs on certain imports from China, tariffs on certain imports from Canada and Mexico, announced trade deal between the United States and European Union of baseline tariffs on certain imports from the European Union, and baseline tariffs on most imports from most other countries, continue to create significant uncertainty and potential risks for our business. These announcements in some cases were followed by delays and changes in implementation, and the ultimate tariff structures are unclear at the current time. Depending on the countries affected, increases in tariffs have raised the costs of inputs used in manufacturing our products, which in turn has impacted our cost of goods sold. Additionally, higher tariffs may lead to increased after-tariff sales prices for the products we sell. The impacts of the tariffs may be partially mitigated as a majority of our sales and manufacturing takes place outside the United States. While we are actively exploring opportunities to mitigate these increased costs, there can be no guarantee that we will be able to fully offset the impact of these tariffs. Furthermore, the imposition of retaliatory tariffs from other countries on our exported products could negatively affect our sales and marketplace access in those countries. Moreover, the uncertainty of the enforceability of the tariffs, any changes to such tariffs and any future trade policy changes has adversely impacted, and is expected to continue to adversely impact, our sales. • We cannot predict or control the impact of the conflict in Ukraine on our business. Already it has resulted in reduced sales in Ukraine as farmers have experienced economic distress, difficulties in harvesting and delivering their products, as well as general uncertainty. There is a potential for natural gas shortages, as well as shortages in other energy sources, throughout Europe, which could negatively impact our production in Europe both directly and through interrupting the supply of parts and components that we use. It is unclear how long these conditions will continue, or whether they will worsen, and what the ultimate impact on our performance will be. In addition, AGCO sells products in, and purchases parts and components from, other regions where there could be hostilities. Any hostilities likely would adversely impact our performance. • Most retail sales of the products that we manufacture are financed, either by our joint ventures with Rabobank or by a bank or other private lender. Our joint ventures with Rabobank, which are controlled by Rabobank and are dependent upon Rabobank for financing as well,

finance approximately 50% of the retail sales of our tractors and combines in the markets where the joint ventures operate. Any difficulty by Rabobank to continue to provide that financing, or any business decision by Rabobank as the controlling member not to fund the business or particular aspects of it (for example, a particular country or region), would require the joint ventures to find other sources of financing (which may be difficult to obtain), or us to find another source of retail financing for our customers, or our customers would be required to utilize other retail financing providers. As a result of the recent economic downturn, financing for capital equipment purchases generally has become more difficult in certain regions and, in some cases, can be expensive to obtain. To the extent that financing is not available or available only at unattractive prices, our sales would be negatively impacted. In addition, Rabobank also is the lead lender in our revolving credit facility and term loans and for many years has been an important financing partner for us. Any interruption or other challenges in that relationship would require us to obtain alternative financing, which could be difficult. • Both AGCO and our finance joint ventures have substantial accounts receivable from dealers and end customers, and we would be adversely impacted if the collectability of these receivables was less than optimal; this collectability is dependent upon the financial strength of the farm industry, which in turn is dependent upon the general economy and commodity prices, as well as several of the other factors listed in this section. • We can experience substantial and sustained volatility with respect to currency exchange rate and interest rate changes, which can adversely affect our reported results of operations and the competitiveness of our products. • Our success depends on the introduction of new products, particularly engines that comply with emission requirements and sustainable smart farming technology, which requires substantial expenditures; there is no certainty that we can develop the necessary technology or that the technology we develop will be attractive to farmers or available at competitive prices. • Our expansion plans in emerging markets, including establishing a greater manufacturing and marketing presence and growing our use of component suppliers, could entail significant risks. • Our business increasingly is subject to regulations relating to privacy and data protection, and if we violate any of those regulations, or otherwise are the victim of a cyberattack, we could be subject to significant claims, penalties and damages. • Cybersecurity breaches, including ransomware attacks and other means, are rapidly increasing. We continue to review and improve our safeguards to minimize our exposure to future attacks. However, there always will be the potential of the risk that a cyberattack will be successful and will disrupt our business, either through shutting down our operations, destroying data, exfiltrating data or otherwise. • We depend on suppliers for components, parts and raw materials for our products, and any failure by our suppliers to provide products as needed, or by us to promptly address supplier issues, will adversely impact our ability to timely and efficiently manufacture and sell products. In addition, the potential of future natural gas shortages in Europe, as well as predicted overall shortages in other energy sources, could also negatively impact our production and that of our supply chain in the future. There can be no assurance that there will not be future disruptions. • Any future pandemics could negatively impact our business through reduced sales, facilities closures, higher absentee rates, and reduced production at both our plants and the plants that supply us with parts and components. In addition, logistical and transportation- related issues and similar problems may also arise. • We have previously experienced significant inflation in a range of costs, including for parts and components, shipping and energy. While we have been able to pass along most of those costs through increased prices, there can be no assurance that we will be able to continue to do so. If we are not, it will adversely impact our performance. • We face significant competition, and if we are unable to compete successfully against other agricultural equipment manufacturers, we would lose customers, and our net sales and performance would decline. • We have a substantial amount of indebtedness (and have incurred additional indebtedness as part of the PTx Trimble joint venture transaction), and, as a result, we are subject to certain restrictive covenants and payment obligations, as well as increased leverage generally, that may adversely affect our ability to operate and expand our business.

*As of February 25, 2026. Board of Directors* Michael C. Arnold Former President and Chief Executive Officer, Ryerson Inc. Sondra L. Barbour Former Executive Vice President, Lockheed Martin Corporation Suzanne P. Clark President, Chief Executive Officer, U.S. Chamber of Commerce Bob De Lange Group President, Digital, Technology & Distribution, Caterpillar Inc. Zhanna Golodryga Former Executive Vice President, Emerging Energy and Sustainability, Phillips 66 Eric P. Hansotia Chairman, President & Chief Executive Officer, AGCO Corporation Niels Pörksen Chairman, Chief Executive Officer, Südzucker AG David Sagehorn Former Executive Vice President and Chief Financial Officer, Oshkosh Corporation Matthew Tsien Former Executive Vice President, Chief Technology Officer, General Motors and Former President, General Motors Ventures *As of February 25, 2026. Senior Management* Eric P. Hansotia Chairman, President & Chief Executive Officer Damon Audia Senior Vice President, Chief Financial Officer Roger N. Batkin Senior Vice President, General Counsel, Chief Sustainability Officer and Corporate Secretary Kelvin Bennett Senior Vice President, Engineering Stefan Caspari Senior Vice President, Customer Success and North America Ag Torsten Dehner Senior Vice President, General Manager, Global Fendt/Valtra and Product Management Luís Felli Senior Vice President, General Manager, Global Massey Ferguson and Business Effectiveness Ivory Harris Senior Vice President, Chief Human Resources Officer Tim Millwood Senior Vice President, Chief Supply Chain Officer Viren Shah Senior Vice President, Chief Digital & Information Officer Brian Sorbe President, PTx Shareholder information CORPORATE HEADQUARTERS 4205 River Green Parkway Duluth, Georgia 30096 USA +1-770-813-9200 TRANSFER AGENT & REGISTRAR You can contact Computershare through the following methods: Overnight mail delivery 150 Royall Street, Suite 101 Canton, MA 02021 USA Regular mail delivery P.O. Box 43006 Providence, RI 02940-3006 USA Telephone +1-800-962-4284 STOCK EXCHANGE AGCO Corporation common stock (trading symbol “AGCO”) is traded on the New York Stock Exchange. INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM KPMG LLP Atlanta, Georgia USA FORM 10-K The Form 10-K Annual Report filed with the Securities and Exchange Commission is available in the “Investors” Section of our corporate website (www.AGCOCorp.com), under the heading “SEC Filings,” or upon request from the Investor Relations Department at our corporate headquarters. ANNUAL MEETING The annual meeting of the company’s stockholders will be held at 9:00 a.m. ET April 23, 2026, at the offices of AGCO Corporation, 4205 River Green Parkway, Duluth, Georgia 30096 USA © 2026 AGCO CORPORATION All rights reserved. Incorporated in Delaware. An Equal Opportunity Employer. AGCO™, Fendt™, Massey Ferguson™, Precision Planting™, Valtra™ and PTx™ and their respective logos, as well as corporate and product identities used herein, are trademarks of AGCO or its subsidiaries and may not be used without permission.

AGCO 4205 River Green Parkway Duluth, GA 30096 USA +1-770-813-9200 AGCOCorp.com

FAQ

What were AGCO's revenue and net income in 2025?

AGCO reported $10.1 billion in annual revenue and $726.5 million in net income attributable to the company for 2025. Management cites improved margins, lower restructuring costs, and divestiture impacts as contributors to the profit recovery.

How much free cash flow did AGCO generate in 2025?

AGCO generated $740.2 million of free cash flow in 2025 after capital expenditures. The company highlights this cash generation as supporting investment, the $1 billion share repurchase program, and balance-sheet flexibility.

What is AGCO's announced share repurchase program?

AGCO launched a $1 billion share repurchase program in 2025, described as equal to the company’s largest ever. The report does not specify timing or pacing for repurchases; further disclosures will set execution details.

What strategic priorities is AGCO pursuing?

AGCO is building precision agriculture via PTx, expanding the premium Fendt brand, rolling out FarmerCore distribution, exiting low-margin businesses, and executing a restructuring to realize up to $200 million in cost savings.

What margin targets has AGCO set?

AGCO targets mid-cycle adjusted operating margins of 14%–15%. In 2025 the adjusted operating margin was 7.7%, with management outlining initiatives intended to bridge toward the mid-cycle goal as markets recover.