JBS N: Comunicado ao Mercado - Apresentação de Resultados 1Q26

We feed better futures

Results Presentation 1Q26

280k+

Global team members

250+

Production facilities

~200

Sales to customers

in ~200 countries

#1 POULTRY

#1 BEEF

#2 PORK

PREPARED

#1

FOODS

Global poultry producer

Market leader in Brazil and Europe.

Leading position in the USA and Mexico.

Global beef producer

Market leader in Australia, Brazil, and the USA. Leading position in Canada.

Global pork producer

Leading positions in Australia, Brazil, Europe and the USA.

Market leader in Australia, New Zealand and the UK. Leading positions in Brazil, Mexico and the USA.

#1

PLANT-

BASED

Plant-based foods

producer in Brazil.

#2 in Europe.

#2 SALMON

Salmon producer

in Australia.

#1 EGGS

Table Egg producer in South America.

BIOTECHNOLOGY

Majority owner of BioTech Foods,

cultivated protein producer in Spain.

Built largest biotechnology

3

R&D center in Brazil.

Net Revenues

US$ billion

88.3

[Brazil Margarine & Mayonnaise]

65.0

86.2

72.6

72.9

77.2

¹

[Beef]

51.2

48.9

49.0

51.1

49.7

51.7 52.3

[Eggs]

36.9

38.6

42.9

31.1

[Meats & Meals]

16.5

17.6

7.6

[Brazil & Mexico Chicken]

2.0

[United Kingdom]

[Pork]

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q26

LTM

6.7

7.2

6.8

6.4

4.7

4.0

4.2

5.0

5.6

2.1

3.3

4.0

3.5

1.9

2.2

2.8

0.3 0.3

0.7

0.6

8.5

Established a Global Protein Platform

Increased Diversification Into Value-Added and Branded Product Portfolios

Source: JBS

Note: (1) 50% control.

Valued Added: Diversified Global Brands Portfolio

Net revenue LTM 1Q26

(by production)

Canada

5%

USA

51%

Europe

6%

Protein production in competitively advantageous locations with scale

Diversification by protein and by geography

Mexico

2%

Brazil

26%

Oceania

10%

Source: JBS.

Beef Pork Lamb Poultry Aquaculture

Prepared

based

Foods

Leather Plant-

Center for

Innovation

Cultivated

Protein

Eggs

Net revenue LTM 1Q26

Canada

4%

USA

50%

Export access and unmatched distribution platform

Positioned to mitigate geopolitical, sanitary and cyclical risks

Mexico & Central America

5%

South America

1%

(by consumption)

Europe

9%

Brazil

12%

Africa &

Middle East

3%

Australia & New Zealand

3%

Asia

13%

Source: JBS.

Team members

in the USA and Canada

79K

Team members in Mexico

13K

15

Team

17K

Team members in Europe

4K

members

1K

Team members

in MENA

in Brazil 16K

Team members in Australia and New Zealand

Source: JBS.

2008 - 2012

2013 - 2017

2018 - 2022

2023 - LTM 1Q26

Key Developments

Adjusted EBITDA Margin Evolution

Initial geographic and protein diversification, with relevant beef and pork acquisitions in the US

Initial focus on downstream diversification, with value-added prepared foods and brand positioning, driving margin expansion

JBS has evolved into a more profitable global player with a robust protein portfolio and vast footprint

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025 LTM 1Q26

2011

2010

2009

2008

JBS Brazil

JBS Australia

Consolidated

Seara

JBS Beef North America

JBS USA Pork

PPC

7.3%

Median: 9.7%

Median: 8.2%

Median: 5.1%

Source: JBS.

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 equity and debt

Increase flexibility to use equity as source

of funding

Increase the number of equity indexes in which JBS can participate (Russell, S&P, MSCI USA, among others)

Expand conditions of growth

10

1

USA

• Walker County (Georgia): New Pilgrim's prepared foods facility

• Ankeny (Iowa): Fully cooked bacon and sausage facility

• Perry (Iowa): Fresh sausage plant

• Cactus (Texas) and Greeley (Colorado): Modernization of beef processing plants

  USA

• Mantiqueira acquired Hickman's, creating the 3rd largest egg producer in the world

  2 1

  3

  9

  2 3

  Mexico

  • Pilgrim's announced investments in Mexico in prepared and fresh foods

4

5

6

8

Europe

• Vivera acquired The Vegetarian Butcher in 2025 from Unilever

  7

  4 5

  Saudi Arabia

  • Investment in a new facility in Jeddah, and expansion of the plant in Dammam

6

Oman

• Develop a multiprotein platform in Oman

• The JV will produce beef, poultry and lamb, serving the global halal market

  Paraguay

  • Investments in poultry production, including the acquisition of Pollos Amanecer

9

Brazil

• Investments in innovation and modernization of three biodiesel plants

  8 7

  Vietnam

  • JBS announced the construction of two factories

~US$ 3 billion in investments building the next phase of growth

Source: JBS

Legend:

Beef Pork

Poultry

Lamb

Eggs

Prepared Foods

Plant-based

Biodiesel 11

12

Results

Consolidated Results

Net Revenue

(US$ million)

21,609

Net Result

(US$ million)

ROE & ROIC (LTM)

19,527

0.47

500

0

0.21

221

24.1% 22.1%

18.0% 14.9%

1Q25 1Q26

1Q25 1Q26

1Q25 1Q26

ROE ROIC

Earnings per share

Source: JBS.

Consolidated Results

Operating Cash Flow

(US$ million)

Free Cash Flow

(US$ million)

CAPEX

(US$ million)

566

56%

-285

-449

-917

-1,467

Expansion Maintenance

265

44%

30 %

70 %

1Q25 1Q26

1Q25 1Q26

1Q25 1Q26

Source: JBS.

Consolidated Results

IFRS - US$ million

7.8%

Adjusted EBITDA

1,528

5.2%

1,133

1Q25

1Q26

Margin %

5.1%

2.4%

Adj. Operating Income

992

516

1Q25

1Q26

Margin %

US GAAP - US$ million

6.7%

Adjusted EBITDA

1,312

4.2%

916

1Q25

1Q26

Margin %

5.1%

Adj. Operating Income

999

1Q25

2.5%

544

1Q26

Margin %

Source: JBS.

Proforma Debt Profile

6,928

500

6,907

500

Proforma Debt Amortization Schedule (US$ million)

Average Term Proforma: 15.6 yrs Average Cost Proforma: 5.7% p.a.

2,925

2,500

1,071

1,450

2,925

2,930 2,318 1,140

2,416

3,503 3,482

840

236 116

649 157

1,369

1,2281,416 1,693

442

883 959

1,235

1,000

984

403

Cash and Equiv.

Bonds Tender Offer

+ Div.

Cash and Equiv. Proforma

Short Term

2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038

to 2051

2052 2053 2055 2056 2057 2065 2066

Full Investment Grade

Cash and equivalents

Notes 2037

& 2057

Revolving credit lines US$ 2.9 billion in the US + US$ 500 million in Brazil

Tender of US$250 million in the 2033 PPC Notes and US$ 1.2 billion in the 2034 Notes

Dividend Payment¹

(1) Dividends to be paid in June, 2026.

Source: JBS.

Debt Profile

Net Debt/ Leverage / Interest Coverage

7.75x 7.74x

6.84x 6.50x

5.75x

17,862

1.99x 2.27x 2.39x 2.39x 2.77x

14,752

16,524

16,611

16,320

1Q25 2Q25 3Q25 4Q25 1Q26

Net Debt (US$ millions) Interest Cover. (US$) Leverage (US$)

Short Term and Long Term Source Breakdown

Entity Breakdown

Source: JBS.

LT 96%

Bonds Banks

85% 3%

CRA

ST 12%

4%

JBS USA

87% JBS SA

6%

Seara 7%

Net Debt Reconciliation

16,320

1,233 183 341

566 111 218 122

(47) (52)

(US$ million)

17,862

¹Considering acquisitions, non-cash items and Others.

Source: JBS.

Solid FCF Generation Supporting Investments, Distributions to Shareholders and Deleveraging

Capital Deployment Profile (USS mn)

Net Leverage (Net Debt/EBITDA in x)

Total

2019-1Q26

Average 2019-1Q26

4.75x

4.50x

4.25x

4.00x

3.75x

3.50x

3.25x

3.00x

2.75x

2.50x

2.25x

2.00x

1.75x

1.50x

1.25x

2.13x

1.58x

1.44x

2.24x

4.42x

M&A Limit

Cap on Dividend

Payment

Attention Zone

Safety Zone 2.77x 2.3Gx

1.8Gx

Long-Term Goal

Source: JBS

Note:(1) Net debt change includes FX and other non-cash adjustments; (2) Considering the payment that will occur in June in the total amount of US$1.071 billion

1.00x

201G 2020 2021 2022 2023 2024 2025 1Q26

Interest Coverage

2019 2020 2021 2022 2023 2024 2025 1Q26 LTM

6.2x 7.8x 11.6x 8.0x 3.2x 7.4x 6.5x 5.7x

Free Cash Flow

Source: JBS.

1 Adjusted EBITDA excluding non-recurring items and in IFRS; 2 Such as fair value (market to market) of biological assets, among others.