Slide 1: We feed better futures
We feed better futures Results Presentation 2Q25
Slide 2: Disclaimer
Disclaimer This presentation is being made in respect of JBS N.V. and its subsidiaries (collectively, the “JBS Group”). Forward-Looking Statements This presentation contains certain statements, including estimates, projections, statements relating to business plans, objectives, and expected operatin
Slide 3: A Leading Global Food Company
A Leading Global Food Company 280k+ 250+ 180+ Global team Production Sales to customers members facilities in 180+ countries 1 # POULTRY 1 # BEEF # 2 PORK # 1 PREPARED FOODS Global poultry producer Global beef producer Global pork producer Market leader in Australia, New Market leader in Brazil, Eur
Slide 4: Growth Journey Based on Strategic Acquisitions and Efficient Operations
Growth Journey Based on Strategic Acquisitions and Efficient Operations Net Revenues US$ billion [Brazil Margarine 80.4 & Mayonnaise] 77.2 72.6 72.9 65.0 [Beef] 51.7 52.3 51.2 48.9 49.0 51.1 49.7 ¹ 42.9 36.9 38.6 [Eggs] 31.1 [Meats & Meals] 16.5 17.6 [Brazil & Mexico 7.6 Chicken] [United Kingdom] 2.
Slide 5: Valued Added: Diversified Global Brands Portfolio
Valued Added: Diversified Global Brands Portfolio 5
Slide 6: Global Diversification Through Local Production
Global Diversification Through Local Production Net revenue 2Q25 (by production) Europe Canada 7% 4% USA 51% Mexico 3% 1 Protein production in competitively advantageous locations with scale Brazil 26% Australia & 2 Diversification protein and by by New Zealand 9% geography Prepared Plant- Center fo
Slide 7: Global Diversification Sales by Consumption
Global Diversification Sales by Consumption Net revenue 2Q25 (by consumption) Europe Canada 9% 3% USA 51% Asia Mexico & Export access and 13% 3 Central America unmatched 5% distribution Africa & platform Middle East 3% Brazil Positioned to 4 mitigate geopolitical, South America 12% Australia & 1% Ne
Slide 8: More than 280,000 Team Members Globally
More than 280,000 Team Members Globally 17K Team members in Europe 78K 12K Team members in the USA and Canada Team members in Mexico 2K Team members in MENA 158K Team members in Brazil 15K Team members in Australia and New Zealand
Slide 9: Lifting Margins and Reducing Volatility with Diversification
Lifting Margins and Reducing Volatility with Diversification 2008 - 2012 2013 - 2017 2018 – 2022 2023 - 2025 Median: 5.1% Median: 8.2% Median: 9.5% Adjusted EBITDA Margin Evolution 8.2% 9.1% 6.6% 3.8% PPC JBS USA Pork JBS Beef North America Seara Consolidado JBS Australia JBS Brasil 2008 2009 2010 2
Slide 10: JBS Begins trading on the NYSE and consolidation of the Dual Listing
JBS Begins trading on the NYSE and consolidation of the Dual Listing Presence on the U.S and Brazilian Stock Exchanges Shares traded on the NYSE since June 13, 2025 Potential unlocking of the value of company’s shares. Broaden access to a wider base of investors Reduce the cost of capital both equit
Slide 11: Investments
Investments New fresh sausage facility | Perry (Iowa) • Investment of US$ 135 million • Projection of 500 direct Jobs and 250 Jobs in the local construction industry • Operation scheduled for mid-2026 New facility acquisition and expansion | Ankeny (Iowa) • US$100 million investment to acquire and e
Slide 12: Results
(sss) Results
Slide 13: 2Q25 Consolidated Results
2Q25 Consolidated Results 20,998 20000.00 19,284 2,000 0.48 0.60 15000.00 1,500 0.30 0.40 10000.00 Net Revenue Net Result 1,000 0.20 (IFRS - US$ million) 500 528 (IFRS – US$ million) 5000.00 329 0.00 .00 0 -0.20 2Q24 2Q25 2Q24 2Q25 Earnings per share 25.7% 40% 30% 10.1% 17.0% ROE ROIC 20% 11.9% (IFR
Slide 14: 2Q25 Consolidated Results
2Q25 Consolidated Results 9.8% 8.4% 8.8% 6.5% 1,894 1,754 Adjusted EBITDA 1,705 1,369 Adjusted EBITDA (IFRS - US$ million) (US Comp - US$ million) 2Q24 2Q25 2Q24 2Q25 Margin (%) Margin (%) 7.0% 3,500 7.2% 8.00% 5.7% 3,000 2,500 4.9% 6.00% 2,000 Adj. Operating 1,348 Adj. Operating Income 1,382 1,034
Slide 15: 2Q25 Consolidated Results
2Q25 Consolidated Results 1,839 Operating Cash Flow Free Cash Flow (IFRS - US$ million) 1,056 (IFRS - US$ million) 773 -55 2Q24 2Q25 2Q24 2Q25 450 346 40% - Expansion 37 % - Expansion CAPEX 60% - Maintenance 63 % - Maintenance (IFRS - US$ million) 2Q24 2Q25 15
Slide 16: Debt Profile
Debt Profile (As of July 31st)¹ Proforma Debt Amortization Schedule (US$ million) Average Term Proforma: 15.1 yrs Average Cost Proforma: 5.6% p.a. 7,183 500 2,907 2,916 2,548 2,311 2,416 3,776 1,422 1,388 1,116 881 926 1,250 1,000 627 641 579 15 122 0 142 Cash and Short 2026 2027 2028 2029 2030 2031
Slide 17: Debt Profile
Debt Profile Net Debt/ Leverage / Interest Coverage 7.41x 7.75x 7.74x 28,000.0 6.30x 26,000.0 24,000.0 4.92x 22,000.0 20,000.0 2.77x 2.15x 1.89x 1.99x 2.27x 18,000.0 16,000.0 16,524 14,000.0 14,759 13,721 13,577 14,752 12,000.0 2Q24 3Q24 4Q24 1Q25 2Q25 Net Debt (US$ millions) Interest Cover. (US$) L
Slide 18: Debt Profile
Debt Profile (US$ million) 122 162 16,524 1,460 14,752 317 153 449 117 301 238 207 (1,754) 1.99x 2.27x Net debt Adjusted Working Biological Interest Paid CAPEX Lease Taxes Exchange Rate Dividends Non Others* Net debt 1Q25 EBITDA Capital Assets and Received Payments Variaton recurring 2Q25 +Margin Ca
Slide 19: Solid FCF Generation Supporting Investments, Distributions to Shareholders and Deleveraging
Solid FCF Generation Supporting Investments, Distributions to Shareholders and Deleveraging Capital Deployment Profile (US$ mm) Net Leverage (Net Debt/EBITDA in x) Total Average 2019-2Q25 2019-2024 4.75x 4.50x 4.42x M&A Limit Free Cash Flow (Excl. Expansion Capex) 13,491 2,368 4.25x 4.00x Cap on Div
Slide 20: Seara
Seara 2Q25 Net Revenue (IFRS – US$ million) 2,223 2,166 2Q24 2Q25 Adj. Operating Income Adj. Operating Income (IFRS – US$ million and %) 1,000 (US Comp - US$ million and %) 1,000 800 800 13.2% 13.5% 13.0% 13.4% 600 600 292 293 400 289 290 400 200 200 - - 20 20 2Q24 2Q25 2Q24 2Q25
Slide 21: JBS Brazil
JBS Brazil 2Q25 Net Revenue (IFRS – US$ million) 3,581 2,980 2Q24 2Q25 Adj. Operating Income Adj. Operating Income (IFRS – US$ million and %) 1,000 (US Comp - US$ million and %) 1,000 5.8% 800 5.8% 800 4.8% 4.8% 600 600 400 400 171 174 172 172 200 200 - - 21 21 2Q24 2Q25 2Q24 2Q25
Slide 22: JBS Beef North America
JBS Beef North America 2Q25 Net Revenue Adj. Operating Income (USGAAP - US$ million) (USGAAP - US$ million and %) 6,805 5,992 0.0 -27 -100.0 -200.0 -300.0 -0.5% -312 -400.0 -500.0 -600.0 -700.0 -4.6% -800.0 2Q24 2Q25 2Q24 2Q25 22 22
Slide 23: JBS Australia
JBS Australia 2Q25 Net Revenue Adj. Operating Income (USGAAP - US$ million) (USGAAP - US$ million and %) 800 1,973 700 1,652 11.7% 600 10.9% 500 400 231 300 180 200 100 - 2Q24 2Q25 2Q24 2Q25 23 23
Slide 24: JBS USA Pork
JBS USA Pork 2Q25 Net Revenue Adj. Operating Income (USGAAP - US$ million) (USGAAP - US$ million and %) 800 700 2,162 2,059 10.4% 600 500 400 4.2% 300 226 200 87 100 - 2Q24 2Q25 2Q24 2Q25 24 24
Slide 25: Pilgrim's Pride
Pilgrim’s Pride 2Q25 Net Revenue Adj. Operating Income (USGAAP - US$ million) (USGAAP - US$ million and %) 4,757 1,400 4,559 1,200 12.0% 12.1% 1,000 800 548 573 600 400 200 - 2Q24 2Q25 2Q24 2Q25 25 25
Slide 26: We feed better futures
We feed better futures 26