Sigma Foods, S.a.b. De C.v. · BMV:SIGMAF/A
Sigma Foods, S.a.b. De C.v — Investor Presentation (June 2026)
47 slides from Sigma Foods, S.a.b. De C.v's investor presentation, June 2026
Slide 1: Corporate Presentation
DELI SHAVED : OVEN ROASTED TURKEY BREAST Corporate Presentation
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information based on numerous variables, expectations and assumptions that are inherently uncertain. They involve judgments with respect to, among other things, future economic, competitive and financial market conditions and future business deci
Slide 3: Sigma among top branded packaged meat players
Sigma among top branded packaged meat players US-Listed Peers Revenue by category 2025 (US $ Billion) Others Dairy Packaged Meats Packaged Meats – Franks, lunchmeats, bacon, sausage, Iberico ham, 54.4 pepperoni, etc. 24.9 15.5 12.1 Dairy - Cheese, yogurt, spreads, creams, etc. 9.3 2.5 9.9 8.8 8.8 Ot
Slide 4: Diversified business model
Diversified business model Geography Category Channel Segment U.S. 17% High / Europe Modern 54% 25-30% Premium Mexico 26% Cooked Dairy 50% Meats 49% 28% Latam 7% Medium 30-40% Traditional 32% Value Dry Meats Others & Low Cost 30-40% 13% 10% Foodservice 14% 4 Share of Revenue by geography, category,
Slide 5: Leading brand portfolio
Leading brand portfolio 16 Brands >US $100M sales, each Mexico Europe #1 Cooked meats #1 Cooked meats #1 Cooked meats #1 Cheese #1 Ham & Fuets #1 Yoghurt #2 Cooked meats United States Latam #1 Cheese and spreads #1 Franks (vol.) #1 Cooked meats #2 Bologna #2 Cooked meats #2 Hispanic cheese #2 Cooked
Slide 6: Multinational production & distribution capabilities
Multinational production & distribution capabilities Production Facilities 66 25 20 9 12 Distribution Centers 191 118 27 16 30 Points of Sale 640k 369k+ 41k+ 130k+ 91k+ R&D Centers 2 1 1 - - 6
Slide 7: Sigma Foods operates at a large scale
Sigma Foods operates at a large scale 28 +2 loops sandwiches Every 3 +250 Cada 3 días trips days 7
Slide 8: Track record of continuous growth in the food industry
Revenue Track record of continuous (US $ Million) growth in the food industry 6% CAGR 9,900 9,174 8,505 8,804 2000 2026 6,817 7,425 12x 6,463 6,347 US $0.8 M Revenue US $9.9 B 4 17 4x Countries Footprint Countries 2019 2020 2021 2022 2023 2024 2025 2026G* 32 M&A transactions in 29 years Sigma Alimen
Slide 9: Strong execution driving profitability growth
Strong execution driving profitability growth Comparable EBITDA Comparable EBITDA per Ton Sigma Foods (US $M) (US $) Sigma Alimentos 7% CAGR 6% CAGR 1,037 1,008 1,100 572 552 590 503 893 436 703 741 401 402 374 684 652 2019 2020 2021 2022 2023 2024 2025 2026G 2019 2020 2021 2022 2023 2024 2025 2026G
Slide 10: Profitability enabling investment & attractive returns
Profitability enabling investment & attractive returns CAPEX Dividend (US $ Million) (US $ Million) 460 150* Capacity 362 119 Expansions 54% 47% Capacity Replacement 46% Digital 53% transformation 2025 2026G 2025 2026 Maintenance Strategic *First installment of US $75M paid in April 2026 16% ROIC 3y
Slide 11: Investment-grade balance sheet
Investment-grade balance sheet ‘BBB’ ‘BBB’ ‘Baa3’ Outlook Stable Outlook Stable Outlook Stable Net Debt Net Leverage Ratio (US $ Million) (Net Debt/EBITDA) 2,705 2,832 2.5 2.6 4Q25 1Q26 4Q25 1Q26 11
Slide 12: Financial Aspiration: 2x EBITDA
Financial Aspiration: 2x EBITDA in 10 years Grow Defend and grow our current sources of profitability the core New sources High potential opportunities Global Categories New of revenue near the core to scale business models Strengthen the Evolve capabilities to enhance the organization’s potential o
Slide 13: Grow the core: Top-line growth and Profitability
Grow Defend and growDefend our current sources and grow of profitability our current sources of profitability the core Top-line growth Profitability • Consumer knowledge • Innovation • Global supply chain • Multinational infrastructure • Brand equity • Operational excellence • Consistent Investment
Slide 14: New sources of revenue opportunities near the core
New sources High potential Global Categories New of revenue opportunities near the core to scale business models • Center-plate Foods, Spreads • Hispanic Cheeses, Dinner Sausages, Lunch Meats • High-protein snacks • Traditional Channel 14
Slide 15: Developing the next Billion-Dollar Business at Sigma
New sources High potential opportunities Global Categories New of revenue near the core to scale business models Developing the next Billion-Dollar Business at Sigma Growth BU Revenue 1,000 (US $ Million) Market (Scale) 400 Market 60+ (Launch) 47 Incubation 36 (Pilot) 17 Innovation (Idea 7 2 generat
Slide 16: Strengthen the organization
Strengthen the Evolve capabilities to enhance the organization’s potential organization Culture and select capabilities as competitive advantages People-centered Culture Consumer-centric Innovation Systems & Processes Marketing (Sigma-IDEO design studio) 16
Slide 17: Explore the Future: Health through food, Responsible protein
Explore the Evolve through capabilities to enhance the organization’s potential protein Health food Responsible Future Through F nsible Prot lth oo spo ein a e He d R Breakthrough health and wellness food solutions Evolution of our products by diversifying our protein anchored on science-based benef
Slide 18: Sigma Foods Investment Thesis
Sigma Foods Investment Thesis Large-scale, diversified business model Leading position in every region / category Strong execution and track record Investment-grade balance sheet Attractive returns and growth potential 18
Slide 19: Appendix
Appendix 19
Slide 20: Sigma Foods key figures (2026 Guidance)
17 1.9M Countries Tons of food* 100+ US $9.9B Brands Revenue* 640K US $1.1B Points of Sale Comp. EBITDA* 20 * Sigma Foods 2026 Guidance
Slide 21: Diversified Business Model – by region
Diversified Business Model – by region Revenue* (M USD) $9.5B 50% 26% 17% 7% Category Cooked Meats 49% 48% 44% 57% 50% Dairy 28% 39% 2% 23% 34% Dry Meats 13% 2% 48% 4% 4% Others 10% 11% 5% 16% 12% Channel Modern 54% 40% 73% 72% 45% Traditional 32% 43% 18% 21% 34% Foodservice 14% 17% 9% 7% 21% 21 Sha
Slide 22: Sigma Foods - 1Q26 Highlights
Sigma Foods - 1Q26 Highlights Record first-quarter Volume and Revenues 1Q26 Comparable EBITDA up 18% YoY, driven mainly by Mexico & Europe 2026 Guidance reaffirmed Mexico US All-time high 1Q Volume, Revenues, and EBITDA Hispanic brands continued growing penetration in mainstream channels Retail chan
Slide 23: Fluid Macro Environment
Fluid Macro Environment Tailwinds Headwinds • Easing Raw • Consumer Materials Prices Sentiment • Favorable Foreign • Energy, Plastic & Exchange Transportation Costs 23
Slide 24: EBITDA per Ton and EBITDA Margin
EBITDA per Ton and EBITDA Margin Comparable EBITDA Contribution EBITDA Margin (% and per Ton) (%) EBITDA Margin (%) EBITDA per ton (US $) +6% CAGR 16 590 14 14.4 567 552 503 12 11.8 436 10 401 402 374 8 8.2 10.9 10.8 10.9 11.8 11.0 11.0 10.5 6 8.8 4.9* 4 2 0 2019 2020 2021 2022 2023 2024 2025 LTM 1Q
Slide 25: Comparable EBITDA by Region
Comparable EBITDA (% and US $ per Ton) by Region Sigma Foods Mexico Europe Sigma Alimentos (US $ per Ton) (US $ per Ton) 665 684 658 686 340 318 492 468 278 282 274 435 410 231 5.8 5.6 6.5 15.9 108 100 4.3 4.9 14.0 13.8 14.6 12.4 15.5 14.5 14.4 3.8 2.1 1.6 2019 2020 2021 2022 2023 2024 2025 LTM1Q26
Slide 26: SIGMA Cost / Expense Structure LTM
SIGMA Cost / Expense Structure LTM Income Statement (LTM) US $M % of Revenue Costs of Goods Sold (COGS) (US $ Million) Meat and Dairy Raw Materials Revenue 9,476 100 Cost of sales (6,605) (70) 2% Dry Ingredients Gross profit 2,870 30 7% 8% Direct Labor Operating expenses and others (2,028) (21) Trad
Slide 27: Change in Net Debt
Change in Net Debt 2025 2026 EBITDA 1,099 1,100 NWC (208) (90) Cap Expenditures (362) (460) Fin. Expense Net* (251) (290) Tx (199) (200) Dividends (119) (150) Others Source (Uses) (192) 17 Change in Net Debt (234) (73) Final Net Debt 2,705 2,778 Net Debt / EBITDA 2.5x 2.5x *2026 figure includes CCS
Slide 28: Sigma Foods Debt Profile 1Q26
Sigma Foods Debt Profile 1Q26 Debt Maturities and Cash (US $ Million) 724 628 512 523 500 500 252 210 144 140 223 62 14 108 4 12 Cash* 2026 2027 2028 2029 2030 2031 2032 2033 2034 2036 2044 MXN USD EUR *Does not include restricted cash 28
Slide 29: Historical Dividends
Historical Dividends Sigma Foods Dividends (US $ Million) 202 196 150 124 119 100 96 75 48 75 2019 2020 2021 2022 2023 2024 2025 2026 Corporate Transformation Pure-play food business Second installment of Dividend approved by Shareholders to be paid in October 2026 29 Controlling-interest dividends
Slide 30: Historical Capex – Strategic vs. Maintenance
Historical Capex – Strategic vs. Maintenance 460 362 248 Strategic 250 170 246 223 220 69 81 174 62 71 39 121 30 192 212 Maintenance 161 181 165 135 148 91 2019 2020 2021 2022 2023 2024 2025 2026G Sigma Alimentos Sigma Foods 30
Slide 31: Continuous growth potential
Continuous growth potential 2026 Guidance Volume Revenue Comparable EBITDA Capex (k ton) (US $ Million) (US $ Million) (US $ Million) 9,600 9,900 1,100 1,826 1,863 9,273 1,050 460 1,001 362 +2% +4% +7% +5% +10% +27% 2025 2026G 2025 2026G 2026G* 2025 2026G 2026G* 2025 2026G Neutral FX Specific FX Neu
Slide 32: Top management with 21 years of average tenure
Top management with 21 years of average tenure CEO 27 Rodrigo Fernández Sigma CEO MBA Wharton Business Units 24 Eugenio Caballero 1 Juan Ignacio Amat 22 Jesús Lobo 38 Sergio Ramos 18 Carlos Maldonado CEO Mexico CEO Europe CEO USA CEO Latam CEO Foodservice MBA Harvard MBA INSEAD, MsC. MBA Cornell Uni
Slide 33: Sigma Foods Board of Directors
Sigma Foods Board of Directors • MARIA TERESA ARNAL • DAVID MARTÍNEZ GUZMÁN Entrepreneur; 25+ years of experience in tech (Google, Twitter & Microsoft) Founder and Managing Director of Fintech Advisory Inc. • DIEGO CALDERON ROJAS • MIGUEL EDUARDO PADILLA SILVA CEO of Grupo Franca Former CEO – FEMS
Slide 34: Culture framework
Culture framework Sigma Foods Fundamentals Essentialism & alignment –Achieve better results and work-life balance by intentionally choosing what really matters. Essentialism & alignment Passion for Consumer Passion for Consumer – Actively listen and comprehend consumer´s needs and emotions, centerin
Slide 35: Tastech
Tastech 2,850+ Applications 64 Countries / 66 Pilot Tests Business Models Future Foods Power Connections Green Technologies 35
Slide 36: Sustainability
Sustainability 36
Slide 37: Sustainability
ccc Sustainability Sigma Foods PEOPLE PLANET 1g Our Preserving the people and planet's natural communities resources PARTNERS Strengthening Our Value Chain 37
Slide 38: Materiality Analysis
Materiality Analysis Double materiality assessment in preparation for compliance with the Corporate Sustainability Reporting Directive (CSRD) and the International Financial Reporting Standards (IFRS) requirements. FOOD SAFETY AND QUALITY ETHICS AND INTEGRITY • Safe food production and distribution
Slide 39: 2025 Sustainability commitments progress
2025 Sustainability commitments progress ACTION PILLARS COMMITMENTS 2025 GOAL & KPIS 2025 GOAL VS. 2024 RESULTS Climate Action 20% of reduction in CO2 eq emissions related to our plants and 100% transportation fleet, per ton of food produced (compared to 2015). ENVIRONMENT Water Management 20% of re
Slide 40: ESG Scores
ESG Scores SIGMA SIGMA SIGMA Sigma Foods Value Chain SIGMA SIGMA Sigma Foods Engagement Water Climate Risk management CSA CSA A-F A-F score 0-100 0-100 MSCI A-F Above Industry Avg. Current A B B 49.6 43* 41 BB Industry C C C 40.2 24 25 BBB average 25’ *In review process 40
Slide 41: Raw Materials
Raw Materials 41
Slide 42: Pork ham price in U.S. and Europe
Pork ham price in U.S. and Europe Pork Ham Prices in U.S. - US $/Lb Pork Ham Prices in Europe - Eur/Kg 1.6 4.0 1.5 1.4 1.3 3.5 1.2 1.1 1.0 3.0 0.9 0.8 0.7 0.6 2.5 0.5 0.4 0.3 2.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 2024 2025
Slide 43: Poultry raw materials in the U.S.
Poultry raw materials in the U.S. Turkey Breast - US $/Lb Turkey Thigh - US $/Lb 8 4 6 3 4 2 2 1 0 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 2024 2025 2026 Chicken (MSC) - US $/Lb Turkey (MST) - US $/Lb 0.40 1.0 0.35 0.8 0.30 0.6
Slide 44: Poultry raw materials in Europe
Poultry raw materials in Europe Chicken Filet - Eur / Kg Turkey Breast - Eur / Kg 6.5 9.5 9.0 6.0 8.5 8.0 5.5 7.5 7.0 5.0 6.5 6.0 4.5 5.5 4.0 5.0 4.5 3.5 4.0 3.5 3.0 3.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 2024 2025 2026 44
Slide 45: U.S. Dairy Raw Materials
U.S. Dairy Raw Materials Milk Class III - $/cwt 30 25 20 15 10 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 Nonfat Dry Milk (NFDM) - US $/Lb 2.5 2.0 1.5 1.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 45
Slide 46: Currency Exchange Rates – Monthly Average
Currency Exchange Rates – Monthly Average U.S. Dollar – MXN Peso U.S. Dollar - Euro 24 1.30 23 1.25 22 1.20 21 20 1.15 19 1.10 18 1.05 17 1.00 16 15 0.95 14 0.90 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2024 2025 2026 2024 2025 2026 46
Slide 47: Contact
Contact Hernán F. Lozano V.P. of Investor Relations & Corporate Communications IR@SigmaFoods.com Cesar Gomez, CFA, CAIA D.V.P. of Investor Relations IR@SigmaFoods.com Carolina Alvear V.P. of Corporate Communications Communication@SigmaFoods.com 47
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