Camil Alimentos S A : Dados Econômico-Financeiros

COMMENTS ON FINANCIAL PERFORMANCE

INTERIM FINANCIAL INFORMATION

FOR THE PERIOD ENDED ON AUGUST 31ST, 2021

The financial data is presented in accordance to the International Financial Reporting Standards (IFRS) and represents the Company's consolidated results in million Reais (R$) with comparisons referring to the second quarter of 2020 (2Q20 - Jun/2020 to Aug/2020; YoY comparisons) and first quarter of 2021 (1Q21 - Mar/2021 to May/2021; QoQ comparisons), unless otherwise indicated.

Message from the Management

In the second quarter of 2021, the Company continued to advance its expansion strategy. We continued to execute our strategy of expanding our business generation capacity, reaching gross revenue that already exceeds the R$ 5 billion mark in the first half of 2021. We also announced several achievements through new acquisitions in the period with diversification of categories in the Brazil and business expansion in South America. The second quarter and subsequent events once again reinforce our solid business model growth attributes, with focus on sales, business continuity and value creation.

First, we announced Camil's entry into Ecuador. We acquired Dajahu´s rice business, market leader in the segment with significant market share and high growth potential in the country. The operation represents an important milestone in Camil´s expansion in Latin America. The operation was concluded in September 2021 and will make part of our results as of 3Q21. Additionally, Camil and IFC entered into a mandate letter to finance the acquisition, subject to the completion of agreed conditions. This partnership reinforces our quest for the best financing options and our commitment to ESG.

In August 2021, we announced our entry into the pasta category with the acquisition of Santa Amália in Brazil, the fourth largest company in this segment in the country. Santa Amália is one of the most traditional and renowned pasta companies in the region, including its representation and leadership in the State of Minas Gerais (MG). It also has prominent brands in the pasta category and a complete portfolio of premium and occupation brands in the category. The geographic complementarity, with leadership in a region with relevant growth potential for Camil's current categories and its national growth potential reinforces the Company's acquisition strategy. The transaction was approved by CADE in September 2021 and represents an important step towards diversification and entry into new categories in Brazil.

And we didn't stop at pasta for category diversification - in September 2021, we launched our entry into the coffee segment with the acquisition to use the Seleto brand. The transaction reinforces our strategy of diversification of categories, focusing on high turnover products and non-perishable food in Latin America. The transaction was approved by CADE and its conclusion is subject to other conditions usual for this type of transaction.

Camil has a consistent track record of organic growth and market share expansion through acquisitions. The recent acquisitions represent an important step for the Company's entry into the pasta and coffee market, as well as its entry into the Ecuadorian market. All three acquisitions reinforce our strategic objectives of acquiring relevant brands and assets in the consumer sector in South America.

We are focused on the process of integrating these new acquisitions, improving efficiency and growing sales in the categories we operate in Brazil. In the international market, we observed this year a reduction in volumes with a drop in carryover stock in Uruguay, compared to the increase in sales in the previous year, with high demand presented in the comparative period. We remain focused on resuming sales growth in Peru and continued positive performance in Chile in terms of volume and profitability.

Since the beginning of the pandemic, we focused our efforts on practical ESG actions and on people's safety. Targeting material themes and a governance structure with working groups that support the Company's journey and ambition in ESG, we are focused on publishing our first Sustainability Report later this year. The Report will represent the communication of our practices and indicators of operations in Brazil, Uruguay, Chile and Peru, of our various product categories. We started 2021 with ESG goals for the Company´s management variable compensation, support from the ESG and Ethics Committee reporting to the Board of Directors and we continue to focus on implementing practices that make a real difference to our business, people and the planet in the context in which we are inserted.

Camil reinforces its strategy of operating in the food market in South America, which combines resilience, growth opportunities and sustainable results, even in adverse scenarios such as the Covid-19 pandemic. We have multiple profiled opportunities for organic and inorganic growth, with the development of new markets and entry into new categories. We started a new cycle full of challenges with the expansion of our capacity to generate business, we reinforced our agility to strengthen our position as a consolidator in the food sector in South America.

1

Brazil

Quarter marked by annual and sequential reduction in sales volumes in Brazil (-1.5% YoY and -3.9% QoQ), due to the strong comparative basis in 2Q20 in the country.

International

Quarter marked by the volumes sequential growth in Uruguay, Chile and Peru (+34.8% YoY) and annual reduction YoY:

1Source: CEPEA; Paddy's rice indicator Esalq/Senar-RS 50kg

2Source: Agrolink; Carioca beans indicator Sc 60kg.

3Source: CEPEA; Crystal Sugar indicator Esalq-SP 50kg

2