JBS (JBS) Institutional presentation summary

Global leadership and scale

• Operates over 250 production facilities with 280,000+ employees, selling to nearly 200 countries.

• Holds #1 global positions in poultry and beef, and leading roles in pork, prepared foods, plant-based, salmon, and eggs.

• 2025 net revenues projected at $86 billion, ranking as the world's largest food company by revenue.

Financial performance and growth

• Net revenues reached $91.2 billion LTM 2Q26, with diversified contributions from Pilgrim's Pride, Seara, JBS USA Pork, JBS Australia, JBS Brazil, and JBS Beef North America.

• Adjusted EBITDA margin improved from a median of 5.1% (2008-2012) to 9.7% (2018-2022), reflecting successful diversification and margin expansion.

• Free cash flow generation supported investments, dividends, and deleveraging, with net leverage reduced to 2.77x by 2Q26.

• Dividend distributions have increased, transforming the company into a dividend stock.

Strategic diversification and investments

• Growth driven by strategic acquisitions and expansion into value-added and branded products.

• Recent capex projects include new and modernized facilities in the US, Mexico, Europe, Paraguay, Brazil, Saudi Arabia, and Oman, totaling ~$3 billion.

• Production and consumption are globally diversified, with significant presence in the US, Brazil, Europe, and Asia.