AGCO REPORTS FOURTH QUARTER RESULTS

Fourth Quarter Highlighted by Progress on Expense and Inventory Reduction Company Achieves Full Year Adjusted EPS of $4.70 and Reported EPS of $4.36.

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AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, reported net sales of approximately $2.5 billion for the fourth quarter of 2014, a decrease of approximately 13.1% compared to net sales of approximately $2.9 billion for the fourth quarter of 2013. Reported net income was $0.85 per share and adjusted net income, excluding restructuring and other infrequent expenses, was $1.18 per share for the fourth quarter of 2014. These results compare to reported and adjusted net income per share of $1.40 for the fourth quarter of 2013. Excluding unfavorable currency translation impacts of approximately 7.0%, net sales in the fourth quarter of 2014 decreased approximately 6.1% compared to the fourth quarter of 2013.

Net sales for the full year of 2014 were approximately $9.7 billion, a decrease of approximately 9.9% compared to the same period in 2013. Excluding the unfavorable impact of currency translation of approximately 2.4%, net sales for the full year of 2014 decreased approximately 7.5% compared to the same period in 2013. For the full year of 2014, reported net income was $4.36 per share and adjusted net income, excluding restructuring and other infrequent expenses, was $4.70 per share. These results compare to reported and adjusted net income of$6.01 per share for the full year of 2013.

Fourth Quarter and Full Year Highlights

• Fourth quarter regional sales results(1): North America (15.6)%, Europe/Africa/ Middle East (“EAME”) (6.1)%, South America +2.2%, Asia/Pacific (“APAC”) +12.7%

• Fourth quarter regional operating margin performance: EAME 9.8%, North America 5.6%, South America 9.6%, APAC (4.0)%

• Inventory reduced significantly in the fourth quarter; approximately $80 million below year-end 2013 on a constant currency basis

• Expense and workforce reduction program initiated; fourth quarter operating expenses 8% below 2013 levels on a constant currency basis

• Full year earnings per share guidance for 2015 remains at approximately $3.00

• Share repurchase program resulted in reduction of 10 million shares during the full year of 2014. Initial $500 million program completed in December 2014. New $500 million repurchase program authorized through 2016

• Quarterly dividend increased 9% to $0.12 effective first quarter 2015

(1)Excludes currency translation impact. See reconciliation of Non-GAAP measures in appendix.

“Despite softening market demand in the fourth quarter, we made solid progress with both inventory reduction and our expense savings program,” stated Martin Richenhagen, AGCO’s Chairman, President and Chief Executive Officer. “By lowering production approximately 20% compared to the fourth quarter of 2013, inventories ended the year well below December 31, 2013 levels. We also took steps to adjust our cost structure in response to lower demand and production levels. Our restructuring plan to significantly reduce SG&A and manufacturing support costs is on track to achieve our 2015 targets. Through a combination of layoffs, temporary furloughs, and the dismissal of temporary employees, we lowered our workforce by over 9% from year-ago levels. Our short-term focus will remain on managing working capital, reducing expenses and generating free cash flow while balancing near-term cost reductions with continued investment in longer-term growth initiatives.”

Market Update

Industry Unit Retail Sales

“Nearly ideal growing conditions produced record global harvests during 2014, resulting in higher grain inventories. The increased grain stocks pressured soft commodity prices and farm income across the major agricultural markets. Farmer sentiment was negatively impacted by the deteriorating farm economics, and we experienced softer industry equipment demand. Retail sales in North America declined, with the largest drop in high-horsepower tractors, combines and sprayers, partially offset by growth in the lower-horsepower categories due to improved conditions in the region’s dairy and livestock sectors. Industry demand remained soft across most of Western Europe. Industry sales decreased significantly in France, declined modestly inGermany and were more stable in the United Kingdom and parts of Southern Europe. Lower industry sales inSouth America were the result of softer demand from sugar producers in Brazil, falling commodity prices and delays in the Brazilian government financing program early in 2014. For 2015, we expect the trends to continue resulting in softer demand in all major farm equipment markets. Our long-term view remains positive as increasing global demand for commodities driven by biofuel use, the growing world population and increasing emerging market protein consumption are expected to support elevated farm income and healthy conditions in our industry.”

Regional Results

AGCO Regional Net Sales (in millions)

Excluding the negative impact of currency translation, net sales in the North American region declined 11.5% in the full year of 2014 compared to the same period in 2013. The most significant decreases were in high-horsepower tractors and implements, with growth in small tractor sales and hay tools partially offsetting the declines. Lower sales and production volumes and a weaker sales mix contributed to a reduction in income from operations of $106.7 million for the full year of 2014 compared to the same period in 2013.North America

South America

Net sales, excluding unfavorable currency translation impacts, decreased 9.6% in AGCO’s South American region in the full year of 2014 compared to the same period in 2013. Softer market demand and reduced sales inBrazil produced nearly all of the decrease. Income from operations decreased $78.7 million for the full year of 2014 compared to the same period in 2013 due to lower sales and production volumes, as well as a weaker mix of sales.

Europe/Africa/Middle East

Net sales in EAME decreased 5.2% in the full year of 2014 compared to the full year of 2013, excluding the impact of unfavorable currency translation due to softer end-market demand. Sales declines in France andGermany were partially offset by growth in Africa and Turkey. Operating income decreased $58.0 million in the full year of 2014 compared to the same period in 2013. The negative impact of reduced production levels and a weaker sales mix were partially offset by cost reduction initiatives.

Asia/Pacific

AGCO’s Asia/Pacific net sales decreased 1.4% in the full year of 2014 compared to the full year of 2013, excluding the negative impact of currency translation. Income from operations in the Asia/Pacific region declined $12.0 million in the full year of 2014, compared to the same period in 2013, due to lower sales and increased market development costs in China.

Outlook

Lower commodity prices relative to 2014 are expected to negatively impact farm income, pressuring industry demand across the developed agricultural equipment markets in 2015. Net sales for 2015 are expected to range from $8.1 to $8.3 billion, reflecting the impacts of softer market conditions and unfavorable currency translation. Gross and operating margins are expected to be below 2014 levels due to the negative impact of lower sales and production volumes along with a weaker sales mix. Benefits from the Company’s restructuring and other cost reduction initiatives are expected to partially offset the volume related impacts. Based on these assumptions, 2015 earnings per share are targeted at approximately $3.00, excluding restructuring and other infrequent expenses. In the first quarter of 2015, earnings per share is expected to be significantly lower than reported for the first quarter of 2014 due to lower production levels associated with inventory reduction efforts.

“As we look ahead, we expect weaker end market demand and currency headwinds to make 2015 more challenging than 2014,” continued Mr. Richenhagen. “Despite the market challenges, our priorities remain unchanged, focusing on margin performance and cash generation while providing superior products and services to our customers. When we look beyond the softer market conditions we face today, the healthy, long-term fundamentals of our industry remain intact. We will continue to invest in new product development, distribution enhancements and productivity improvements to enable our long-term growth and improve our financial performance.”

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AGCO will be hosting a conference call with respect to this earnings announcement at 10:00 a.m. Eastern Time on Tuesday, February 3, 2015. The Company will refer to slides on its conference call. Interested persons can access the conference call and slide presentation via AGCO’s website at www.agcocorp.com in the “Events” section on the “Company/Investors” page of our website. A replay of the conference call will be available approximately two hours after the conclusion of the conference call for twelve months following the call. A copy of this press release will be available on AGCO’s website for at least twelve months following the call.

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Safe Harbor Statement

Statements that are not historical facts, including the projections of earnings per share, sales, industry demand, market conditions, population growth, biofuel consumption, commodity prices, currency translation, farm income levels, margin levels, investments in product development, operational and financial initiatives, production volumes, market development and performance and general economic conditions, are forward-looking and subject to risks that could cause actual results to differ materially from those suggested by the statements. The following are among the factors that could cause actual results to differ materially from the results discussed in or implied by the forward-looking statements.

• 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, lower commodity prices, lower farm income and changes in the availability of credit for our retail customers, will adversely affect us.

• 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, taxes, economic conditions, labor supply and relations, political conditions and governmental policies. These risks may delay or reduce our realization of value from our international operations.

• Most retail sales of the products that we manufacture are financed, either by our joint ventures withRabobank or by a bank or other private lender. Our joint ventures with Rabobank, which are controlled byRabobank 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 byRabobank 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, was expensive to obtain. To the extent that financing is not available or available only at unattractive prices, our sales would be negatively impacted.

• Both AGCO and our retail finance joint ventures have substantial account receivables from dealers and end customers, and we would be adversely impacted if the collectability of these receivables was not consistent with historical experience; 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 have experienced substantial and sustained volatility with respect to currency exchange rate and interest rate changes, including uncertainty associated with the Euro, 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, which requires substantial expenditures.

• Our production levels and capacity constraints at our facilities, including those resulting from plant expansions and systems upgrades at our manufacturing facilities, could adversely affect our results.

• 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.

• 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.

• 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 profitability would decline.

• We have a substantial amount of indebtedness, and, as result, we are subject to certain restrictive covenants and payment obligations that may adversely affect our ability to operate and expand our business.

Further information concerning these and other factors is included in AGCO’s filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2013 and subsequent Form 10-Qs. AGCO disclaims any obligation to update any forward-looking statements except as required by law.