EARNINGS

PRESENTATION

1st Quarter / 2023

EARNINGS RELEASES

HIGHLIGHTS OF 1Q23

Consolidated Net Revenue

R$ 31.8 billion

Consolidated ADJ EBITDA

R$ 1.5 billion

Mg. ADJ EBITDA

4,7%

FINANCIAL | OPERATIONAL

North America Operation

Net Revenue: US$ 2.6 billion

ADJ EBITDA Margin: 3.9%

BRF

Net Revenue: R$ 13.1 billion

ADJ EBITDA Margin: 4.6%

Operating Cash Flow

R$ 673 million

Financial Leverage

In Real: 3.50x | In Dolar: 3.53x

South America Operation

Net Revenue: R$ 5.2 billion

ADJ EBITDA Margin: 7.8%

Financial Leverage (ex-BRF)

Marfrig repurchased and cancelled a total portion equivalente to U$S 52 million of the main of the outstanding senior notes (bonds) due in 2026, 2029 and 2031.

Revenue by Currency

Dollar: 71% | Real: 27% | Others: 2%

Revenue by Operation

North America South America BRF

43%16%41%

ADJ EBITDA by Operation

North America South America BRF

34%26%40%

Sustainability

CDP - Marfrig is among the 8% of the best evaluated companies for the involvment of suppliers on climate change by the 2022 edition of Disclosure Insight Action

Forest 500 - In 2023, Marfrig took the lead in the slaughterhouse sector in the

global ranking for combating deforestation Forest 500.

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OPERATIONS

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N O R T H A M E R I C A O P E R A T I O N

OPERATIONAL AND FINANCIAL PERFORMANCE - 1Q23

SALES VOLUME

NET REVENUE

(Thousand tons)

(US$ million)

-11.0%

-14,6%

523

3,023

466

2,583

800

88%

86%

88%

600

90%

400

200

0

1Q22

1Q23

1Q22

1Q23

ADJ EBITDA (US$ million)

  • ADJ EBITDA Margin (%)

-11.1 p.p.

15.0%

3.9%

-77.7%

453

101

1Q22 1Q23

Net Revenue

US$ 2.6

Billion

ADJ EBITDA

34 %

of the

consolidated

Exports

Domestic Market

Exports

Domestic Market

ADJEBITDA

ADJEBITDA Margin

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N O R T H A M E R I C A

MARKET DATA - USA

Cattle Price

Drop Credit

Domestic Price

Spread

(USDA KS Steer $/cwt)¹

($/cwt)

(USDA Comprehensive Cutout $/cwt)

(Cutout Ratio)

+15,9%

-3,0%

+1,6%

-12.1%

160,5

14,62

277,9

1.98

151,0

13,81

13,40

273,6

253,4

1.74

138,5

1.69

1Q22

4Q22

1Q23

1Q22

4Q22

1Q23

1Q22

4Q22

1Q23

1Q22

4Q22

1Q23

(1) The "hundredweight", abbreviated Cwt, is an unit of measurement for weight used in certain commercial "commodity" contracts. In North America, the "hundredweight" is equal to 100 pounds

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Disclaimer

Marfrig Global Foods SA published this content on 15 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 22:59:09 UTC.