Marfrig Global Foods : Minutes of the Board of Directors Meeting

MARFRIG GLOBAL FOODS S.A.

Public Company

Taxpayer ID (CNPJ/MF): 03.853.896/0001-40 State Registration (NIRE): 35.300.341.031

MINUTES OF THE BOARD OF DIRECTORS' MEETING

HELD ON APRIL 9, 2018

Date, Time and Venue: At 7:30 a.m., on April 9, 2018, at the registered office of Marfrig

Global Foods S.A. ("Company"), located at Avenida Queiroz Filho, nº 1.560, Bloco 5, Torre

Sabiá, 3º Andar, Sala 301, Vila Hamburguesa, CEP 05314-000, in the City of São Paulo, State of São Paulo.

Call Notice and Attendance: The requirement to publish a call notice was waived in view of the attendance of all members of the Board of Directors of the Company, via conference call, namely Messrs. Marcos Antonio Molina dos Santos - Chairman of the Board, Marcia Aparecida Pascoal Marçal dos Santos, Rodrigo Marçal Filho, Alain Emilie Henry Martinet, Antonio dos Santos Maciel Neto, Marcelo Maia de Azevedo Correa, Carlos Geraldo Langoni, Roberto Faldini, Ian David Hill and Ernesto Lozardo.

Presiding: Chairman: Mr. Marcos Antonio Molina dos Santos; Secretary: Mr. Heraldo Geres.

Agenda: Approve the acquisition of control of National Beef Packing Company, LLC.

Decisions: After due examination and debate of the matter on the agenda, the members of the Board of Directors decided, by unanimous vote, to approve the execution of a binding agreement for the acquisition of a controlling interest of 51% in the total and voting capital of

National Beef Packing Company, LLC ("National Beef"). National Beef is a U.S. company incorporated under the laws of the state of Delaware that is engaged in the processing and sale of beef, packaged and customized beef cuts and beef subproducts and is responsible for 13% of U.S. beef primary processing capacity. The acquisition, in the amount of nine hundred sixty-nine million U.S. dollars (US$969 million) will be conducted through the

Company's subsidiary in the United States, NBM US Holdings, Inc. Said acquisition price will be paid in cash upon consummation of the operation, which is subject to the fulfillment of conditions precedent common to operations of this kind, including by the U.S. antitrust authorities and the by the U.S. Federal Trade Commission. The acquisition also is subject to approval by the shareholder BNDES Participações S.A. in connection with the Shareholders' Agreement filed at the registered office of the Company. Since said acquisition reinforces the

Company's core business and is aligned with the strategic plan for 2018, which includes reducing the leverage ratio, reducing gross debt and creating value for all stakeholders, the Directors decided to ratify all acts practiced previously in connection with said operation, with the Executive Board authorized to take all measures and to practice all acts required to effect

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BoD Meeting - 4/9/2018 - Acquisition of Controlling Interest - National Beef Packing Company, LLC.

and fully comply with the decisions formalized herein. Closing: There being no further matters to address, these Minutes were drawn up, read, approved and signed by all Directors in attendance. Closing: There being no further matters to address, these Minutes were drawn up, read, approved and signed by all Directors in attendance. Signatures: Presiding: Chairman: Marcos Antonio Molina dos Santos; Secretary: Heraldo Geres. Members of the Board of Directors: Marcos Antonio Molina dos Santos - Chairman of the Board, Marcia Aparecida Pascoal Marçal dos Santos, Rodrigo Marçal Filho, Alain Emilie Henry Martinet, Antonio dos Santos Maciel Neto, Marcelo Maia de Azevedo Correa, Carlos Geraldo Langoni, Roberto Faldini, Ian David Hill and Ernesto Lozardo.

I certify that this is a true copy of the original minutes in the records of the Company.

São Paulo, April 9, 2018

__________________________________

Heraldo Geres

Secretary

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BoD Meeting - 4/9/2018 - Acquisition of Controlling Interest - National Beef Packing Company, LLC.