# EDGAR Filing Document

**Accession Number:** 0001791942
**File Stem:** 0001213900-26-017063
**Filing Date:** 2026-2
**Character Count:** 31155
**Document Hash:** d94dabc704fc8155a250418ba999894f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-017063.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001213900-26-017063

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 37

**CONFORMED PERIOD OF REPORT**: 20260217

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JBS N.V.
- **CENTRAL INDEX KEY:** 0001791942
- **STANDARD INDUSTRIAL CLASSIFICATION:** MEAT PACKING PLANTS [2011]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** P7

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42678
- **FILM NUMBER:** 26638520

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** STROOMBAAN 16
- **STREET 2:** 5E VERDIEPING
- **CITY:** AMSTELVEEN
- **PROVINCE COUNTRY:** P7
- **BUSINESS PHONE:** 31206564700

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** STROOMBAAN 16
- **STREET 2:** 5E VERDIEPING
- **CITY:** AMSTELVEEN
- **PROVINCE COUNTRY:** P7

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JBS B.V.
- **DATE OF NAME CHANGE:** 20221121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Swift Foods B.V.
- **DATE OF NAME CHANGE:** 20200203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Violet Holdings B.V.
- **DATE OF NAME CHANGE:** 20191022

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM 6-K**

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or

15d-16 of the Securities Exchange Act of 1934

**For the month of February 2026**

**Commission File Number: 001-42678**

**JBS N.V.**

(Exact Name as Specified in its Charter)

**N/A**

(Translation of registrant's name into English)

**Stroombaan 16, 5th Floor, 1181 VX, Amstelveen, Netherlands**

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

**Form 20-F:** ☒ Form 40-F: ☐

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit Number**<br>| **Description of Document** |
| 99.1 | [CAGNY 2026 Presentation](ea027731201ex99-1_jbsnv.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: February 17, 2026

---

| | |
|:---|:---|
| JBS N.V. | JBS N.V. |
| By: | /s/ Guilherme Perboyre Cavalcanti |
| Name: | Guilherme Perboyre Cavalcanti |
| Title: | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

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CAGNY 2026 We feed better futures

![](ex99-1_002.jpg)

Disclaimer Thi S pre S entation i S being made in re S pect of JBS N . V . and it S S ub S idiarie S (collectively, the "JBS Group") . Forward - Looking Statements Thi S pre S entation contain S certain S tatement S , including e S timate S , projection S , S tatement S relating to bu S ine SS plan S , objective S , and expected operating re S ult S , and the a SS umption S upon which tho S e S tatement S are ba S ed, that are "forward - looking S tatement S ," a S defined under the Private Securitie S Litigation Reform Act of 1995 . The S e forward - looking S tatement S are generally identified by the word S "anticipate," "believe," "e S timate," "expect," "future," "intend," "may," "opportunity," "outlook," "plan," "project," " S hould," " S trategy," "will," "would," "will be," "will continue," "will likely re S ult" and S imilar expre SS ion S . The S e S tatement S are ba S ed on the current expectation S of the management of the JBS Group and are S ubject to uncertainty and to change S in circum S tance S . In addition, the S e S tatement S are ba S ed on a number of a SS umption S that are S ubject to change . Thi S pre S entation al S o contain S e S timate S and other information concerning the indu S try in which the JBS Group operate S , that are ba S ed on indu S try publication S , S urvey S and foreca S t S . Thi S information involve S a number of a SS umption S and limitation S , and we have not independently verified the accuracy or completene SS of the information . Many factor S could cau S e actual re S ult S to differ materially from the S e forward - looking S tatement S including unfore S een liabilitie S , future capital expenditure S , revenue S , expen S e S , earning S , S ynergie S , economic performance, indebtedne SS , financial condition, lo SS e S , future pro S pect S , bu S ine SS and management S trategie S for the management and expan S ion and growth of the JBS Group' S operation S . While the li S t of factor S pre S ented here i S con S idered repre S entative, no S uch li S t S hould be con S idered to be a complete S tatement of all potential ri S k S and uncertaintie S . Unli S ted factor S may pre S ent S ignificant additional ob S tacle S to the realization of forward looking S tatement S . Con S equence S of material difference S in re S ult S a S compared with tho S e anticipated in the forward - looking S tatement S could include, among other thing S , bu S ine SS di S ruption, operational problem S , financial lo SS , legal liability to third partie S and S imilar ri S k S , any of which could have a material adver S e effect on the JBS Group' S con S olidated financial condition, re S ult S of operation S or liquidity . Forward - looking S tatement S included herein are made a S of the date hereof, and the JBS Group undertake S no obligation to update publicly S uch S tatement S to reflect S ub S equent event S or circum S tance S . Non - GAAP Financial Measures Thi S pre S entation contain S non - GAAP financial mea S ure S . The non - GAAP financial mea S ure S contained in thi S pre S entation are not mea S ure S of financial performance calculated in accordance with any GAAP or International Financial Reporting Standard S ("IFRS") and S hould not be con S idered a S replacement S or alternative S to net income or lo SS , ca S h flow from operation S or other mea S ure S of operating performance or liquidity . We al S o adopt non - GAAP mea S ure S when we believe that the additional information i S u S eful and meaningful to inve S tor S . Non - GAAP financial mea S ure S do not have any S tandardized meaning and are therefore unlikely to be comparable to S imilar mea S ure S pre S ented by other companie S . The pre S entation of non - GAAP financial mea S ure S i S not intended to be a S ub S titute for, and S hould not be con S idered in i S olation from, the financial mea S ure S reported in accordance with IFRS, a S i SS ued by the International Accounting Standard S Board or con S idered replacement S or alternative S to net income or lo SS , ca S h flow from operation S or other IFRS mea S ure S of operating performance or liquidity . The S e non - accounting mea S ure S are u S ed by market participant S for comparative analy S i S , albeit with certain limitation S , of the re S ult S of bu S ine SS e S in the S ector and a S indicator S of the JBS Group' S capacity to generate ca S h flow . For a reconciliation of hi S torical amount S certain non - GAAP mea S ure S to the neare S t comparable IFRS mea S ure S , S ee the Appendix to thi S pre S entation . No reconciliation of the foreca S ted non - GAAP mea S ure S are included in thi S pre S entation becau S e we are unable to quantify certain amount S that would be required to be included in the corre S ponding IFRS mea S ure S without unrea S onable effort S , due to high variability and complexity with re S pect to e S timating certain forward - looking amount S , and we believe S uch reconciliation would imply a degree of preci S ion that would be confu S ing or mi S leading to inve S tor S .

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Wesley Batista Filho JBS USA CEO Gilberto Tomazoni JBS Global CEO Guilherme Cavalcanti JBS Global CFO Mechanical engineer with a po S tgraduate degree in management, he ha S exten S ive experience and knowledge of the food indu S try. Worked for 27 year S at Sadia, where he S tarted a S an intern and became CEO. Three year S a S vice pre S ident of Bunge Alimento S , managing the food and ingredient S bu S ine SS . Joined JBS a S Global Pre S ident of the Poultry Bu S ine SS . Led Seara after it S acqui S ition in 2013. In 2015, a SS umed the Global Operation S Pre S idency and in 2017 became Global COO of JBS. In December 2018, wa S named Global CEO. Since 2013, he ha S chaired the Board of Pilgrim' S Pride Corporation. Began hi S profe SS ional career in 2011 a S a trainee at JBS USA, at the Greeley, Colorado facility. He later led the company' S operation S in Uruguay, Paraguay, Canada, and JBS Fed Beef in the U.S. In the S econd half of 2017, he became Pre S ident of JBS Brazil. In January 2020, he al S o a SS umed the pre S idency of Seara. In November 2022, he wa S appointed COO of JBS. He ha S S erved a S the CEO for JBS USA, S ince May 2023. Hold S a bachelor' S and ma S ter' S degree in economic S , with exten S ive experience a S Chief Financial Officer and Head of Inve S tor Relation S in indu S trie S S uch a S the food, pulp and paper, metal S and mining, telecommunication S and media, banking. He ha S S trong experti S e in ca S h flow management, corporate ri S k management, bu S ine SS planning, inve S tor relation S , and trea S ury. Ha S been the Global CFO S ince 2018. Presenters

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A leading global food company

![](ex99-1_005.jpg)

Growth journey based on strategic acquisitions and efficient operations 2.0 7.6 16.5 17.6 31.1 36.9 38.6 42.9 51.2 48.9 49.0 51.1 49.7 51.7 52.3 65.0 72.6 72.9 77.2 83.1 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2022 2023 2024 LTM 3Q25 2026 [Beef] [Pork] [Brazil Margarine & Mayonnaise] Increased Diversification Into Value - Added and Branded Product Portfolios Established a Global Protein Platform [United Kingdom] [Meats & Meals] [Brazil & Mexico Chicken] Net Revenues US$ billion Source: JBS Note: (1) 50% control. (2) Acqui S ition in Feb/26. EBITDA Evolution (US(billion) 0.3 0.3 0.7 0.6 2.1 1.9 2.2 2.8 4.7 4.0 3.3 4.2 4.0 5.0 5.6 2021 8.5 6.7 3.5 7.2 7.0 [Eggs] 1 2 2

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Long - term value creation

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1 Continuou S growth Expand margin S 2 Reduce volatility 3 Financial di S cipline 4 Return to S hareholder S through dividend S and S hare buyback S 5 +150 brand S acro SS the portfolio +300,000 cu S tomer S and S ale S to approximately 180 countrie S +600 operation S in 26 countrie S Profitability Production platform Sale S and di S tribution platform Value - added product S and brand S People and Culture Long - term growth strategy

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Executing our long - term growth strategy Pur S uing additional value - enhancing growth opportunitie S with financial di S cipline 1. Enhance Scale in Existing Categories and Geographies 3 . Enhance Platform Diversification and Key - customer Relationship 2. Increase and Diversify Value - Added and Brand Portfolio • Aquaculture • Poultry • Pork • Prepared • Egg S • Plant - ba S ed • Frozen product S DTC • Key - cu S tomer S trategy • Advanced category management • Nutraceutical S Operational excellence Capture S ynergie S Increa S e output with current a SS et S Enhance growth and margin profile Realize benefit S of vertical integration Enhance hou S ehold brand penetration and boo S t repeat purcha S e rate

![](ex99-1_009.jpg)

Macro consumer trends JBS is positioned to deliver protein solutions by combining convenience, trusted brands and nutritional value — globally and at scale. Convenience Trust Nutrition Making protein easier to consume Ready - to - cook and ready - to - eat S olution S Simplified preparation and portion format S De S igned for everyday con S umption occa S ion S Brands and products consumers rely on Strong and tru S ted brand S Con S i S tent quality and food S afety S tandard S Tran S parency and reliability at S cale Protein as part of a balanced diet Lean protein and S imple formulation S Clear nutritional benefit S Aligned with health - con S ciou S life S tyle S

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MENA and the global halal protein opportunity Source: World Bank, Pew Re S earch Center, Niel S en and JBS US$2+ trillion global halal food market Halal meat con S umption expected to exceed US$1.5 trillion by 2027 1.9+ billion consumers Growing ~2x faster than the global population OMAN Chicken plant: 600,000 head S /day Beef plant: 1,000 head S /day Lamb plant: 5,000 head S /day KSA and UAE Indu S trial footprint : 3 value added plant S Di S tribution network Long - term value through local production, S cale and partner S hip S New facility in Jeddah (KSA): 40%+ growth in production capacity JBS combines halal - certified production, scale and regional presence to serve one of the fastest - growing protein markets in the world. Halal JBS in MENA

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Global diversification through local production Mexico 3% USA 51% Canada 5% Beef Pork Lamb Poultry Aquaculture Leather Plant - ba S ed Center for Innovation Cultivated Protein Prepared Food S Egg S Australia & New Zealand 9% Europe 6% Brazil 26% Net revenue 3Q25 LTM (by production)

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Global diversification sales by consumption South America 1% Mexico & Central America 5% Brazil 12% Europe 9% Asia 13% Africa & Middle East 3% USA 50% Canada 4% Australia & New Zealand 3% Net revenue 3Q25 LTM (by consumption)

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Operational scale and distribution power across the globe. Protein production in competitively advantageou S location S with S cale Diver S ification by protein and by geography Export acce SS and unmatched di S tribution platform Po S itioned to mitigate trade di S ruption S Brazil i S po S itioned to S cale global beef S upply through productivity gain S Strategic expan S ion in MENA accelerating acce SS to halal - driven demand

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Our most recent Capex projects further reinforce JBS leadership in the global market USA • Walker County (Georgia): New Pilgrim' S prepared food S facility • Ankeny (Iowa): Fully cooked bacon and S au S age facility • Perry (Iowa): Fre S h S au S age plant • Cactus (Texas) and Greeley (Colorado): Modernization of beef proce SS ing plant S Beef Pork Lamb Poultry Plant - ba S ed Prepared Food S Egg S Biodie S el Legend: USA • Mantiqueira acquired Hickman's , creating the 3 rd large S t egg producer in the world Europe • Vivera acquired The Vegetarian Butcher in 2025 from Unilever Mexico • Pilgrim' S announced inve S tment S in Mexico in prepared and fre S h food S Saudi Arabia • Inve S tment in a new facility in Jeddah, and expan S ion of the plant in Dammam 1 2 3 1 2 3 4 5 4 5 7 Oman • Develop a multiprotein platform in Oman • The JV will produce beef, poultry and lamb, S erving the global halal market 6 6 8 Paraguay • Inve S tment S in poultry production, including the acqui S ition of Pollo S Amanecer Vietnam • JBS announced the con S truction of two factorie S 7 Brazil • Inve S tment S in innovation and modernization of three biodie S el plant S 8 9 9 ~US$3 billion in investments building the next phase of growth Source: JBS

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Building strong brands

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The JBS way of building brands Improve business results CULTURE PERFORMANCE Con S i S tency Innovation Long - term view Clear benefit S to the con S umer BRAND Quality of product S and S ervice S Mind S et: To be the be S t Focu S Operational excellence Cu S tomer relation S hip

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45 % sales CAGR over 5 years # 1 in velocity Fastest - moving brand in frozen chicken Building brands \| United States Just Bare is winning over American consumers through a promise of simplicity , transparency and quality . 1 Billion in sales reached in 2025 From 1% to 13% market share growth in 3 years USS Source: Circana

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Growth in market share (%) # 1 BRAND Frozen food, pizza, bacon, sliced salami, burger patties 93 % Brazilian household penetration + 50 % higher price index Innovative x regular products 32 % Top of Mind (The fastest growing brand \| Q124 – 24%) The most innovative brand in Brazil. Leading category growth by creating and leveraging new consumption occasions. Air Fryer Line 1 S t La S agna \| 1 S t Pizza Clean Label - Single frozen + 1 S t Protein line Snack S Seara + Netflix 10.9 Frozen Pizza 26.7 2013 2025 36% 2013 2025 11.7 Frozen Foods 25.4 2013 2025 Building brands Brazil Repurchase rate strengthening Seara products 93% +57 % #5 most chosen brand in Brazilian retail Source: Niel S en; Kantar

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Building brands Mena region 0 US$414M 2021 2025 (Revenue) Source: Brand Awarene SS : IPSOS BHT \| KSA & UAE Dec'25 Niel S en Retail Audit Value Share \| 5 Market S (KSA, UAE, KWT, QTR, OMN) \| W/O KSA Griller \| FY'25 Growth in market share (%) 0.2 Prepared food S 8.3 2021 2025 1.3 Chicken Part S 4.5 2021 2025 5.4 Griller 9.0 2021 2025 94 % Awareness (vs 37% in 2022) Frozen Meat # 2 BRAND Griller # 3 BRAND In Chicken Strips & Popcorn # 3 BRAND GCC Frozen Meat 2023 2025 Net revenue growth

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Building brands Mexico +136% growth driven by retail and club expansion +1,830% growth, reflecting rapid consumer adoption +116% growth with steady expansion across channels +21% growth on a large and resilient base Strong and consistent brand growth across categories. Double - digit YOY and CAGR growth in the last 5 years. 2,400 5,700 2021 2025 Frozen packages Unit sell - out volume ('000) 965 50 2022 2025 Frozen value added and Fresh AB free products Unit sell - out volume (' 000) 600 1,300 2021 2025 Frozen beef and chicken Taquitos Unit sell - out volume ('000) 11,000 13,500 2021 2025 Frozen breaded chicken value added Unit sell - out volume ('000) Source: JBS (retailer' S information: Walmart, Sam' S , Co S tco, Soriana, La Comer, HEB and Chedraui)

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Building brands United Kingdom 2019 2025 13.8% 2023 2025 A diversified portfolio to cater for different snacking occasions Revenue growth Household penetration 15.4% A pioneer in protein snacking 88 % Brand Awareness # 1 BRAND Chicken Snack brand in UK # 100 largest brand in UK Grocery Source: Circana; Kantar; The Grocer

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81.7% Household penetration 35.8% Market Share +1.3pts growth YoY 85% Total Awareness Primo #1 BRAND in Australia In 5 years: #1 snacking brand ▪ 29.5% Market Share (+0.9pts growth YoY) ▪ $0  $85m S can S ale S in 5 year S ▪ Available in Au S tralia, New Zealand Singapore & Hong Kong Fastest growing innovation in category ▪ $0  $19m S can S ale S in 2 year S ▪ 30% Repeat rate ▪ Awarded be S t innovation in Au S tralia by Niel S en 32% Unprompted Awareness 31% Preferred Brand Building brands Australia Source: Circana Chee S e Scan Data MAT to 7 Dec 25; Brand health data tracking Dec 2025; Retail S can value data 10,800 27,000 2020 2025 Unit volume ('000) 1,200 13,500 2023 2025 Unit volume ('000)

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Building brands Australia #1 local premium salmon brand in Australia\* 1,000+ stores Presence across leading Australian supermarkets #2 salmon supplier in Australian retail\* 200% YoY sales growth 2025 vs 2024 Source: \*Circana

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Financial highlights

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Lifting margins and reducing volatility with diversification 3.8% 6.6% 8.2% 8.4% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 LTM 3Q25 PPC JBS USA Pork JBS Beef North America Seara Con S olidated JBS Au S tralia JBS Brazil Initial focus on downstream diversification, with value - added prepared foods and brand positioning, driving margin expansion Adjusted EBITDA Margin Evolution Key Developments 2023 - 2025 2008 - 2012 2013 - 2017 2018 – 2022 Median: 5.1% Median: 8.2% Median: 9.7% Initial geographic and protein diversification, with relevant beef and pork acquisitions in the US JBS has evolved into a more profitable global player with a robust protein portfolio and vast footprint Source: JBS

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Solid FCF generation supporting investments, distributions to shareholders and deleveraging Capital Deployment Profile (USS mn) Net Leverage (Net Debt/EBITDA in x) M&A Limit Cap on Dividend Payment Attention Zone Long - Term Goal 2,101 14,182 Free Cash Flow (Excl. Expansion Capex) 766 5,172 Expansion Capex 515 3,478 M&A 788 5,320 Dividends 498 3,359 Share Buybacks ¹ Growth Value Total 2019 - 3Q25 Average 2019 - 3Q25 Interest Coverage 3Q25 2024 2023 2022 2021 2020 2019 6.8x 7.4x 3.2x 8.0x 11.6x 7.8x 6.2x 2.13x 1.58x 1.44x 2.24x 4.42x Safety Zone 2.39x 1.89x 1.25x 1.00x 1.50x 1.75x 2.00x 2.25x 2.50x 2.75x 3.25x 3.00x 3.50x 3.75x 4.00x 4.25x 4.50x 4.75x 2019 2020 2021 2022 2023 2024 3Q25 Source: JBS Note:(1) Including US$600 million of S hare buyback program conclued in November 2025.

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2026 2025 LTM 2024 2023 2022 2021 2020 2019 USD mn - 6,843 6,891 3,554 6,678 8,542 5,677 5,106 Adjusted EBITDA\* (2,400) (1,791) (1,480) (1,502) (2,173) (1,781) (1,145) (1,076) Capex (1,300) (692) (509) (733) (1,195) (989) (607) (572) Expan S ion (1,100) (1,098) (971) (769) (977) (792) (538) (504) Maintenance (1,150) (1,083) (1,295) (1,101) (794) (687) (630) (848) Intere S t Expen S e S (500) (429) (418) (429) (434) (360) (306) (344) Lea S ing - (1,220) (327) 617 (1,235) (1,245) 536 154 Working Capital (650) (738) (521) (529) (865) (724) (532) (427) Biological A SS et S 25% (812) (349) (72) (1,039) (1,124) (629) (546) Taxe S - (453) (171) (90) (167) (763) - - Non - recurring - 317 2,332 448 (30) 1,858 2,972 2,020 Free Cash Flow Free cash flow \* Adju S ted EBITDA excluding non - recurring item S and in IFRS

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Evolution of prices and dividends 247 469 902 878 457 1,177 1,190 2021 2022 2023 2024 2025 In recent years, JBS has transformed itself into a dividend stock. Dividend Distribution (US$ mn) S&P 500 400 70 149 278 100 150 250 200 300 350 400 50 Jan - 19 Jul - 19 Jan - 20 Jul - 20 Jan - 21 Jul - 21 Jan - 22 Jul - 22 Jan - 23 Jul - 23 Jan - 24 Jul - 24 Jan - 25 Jul - 25 Jan - 26 JBS HRL TSN S&P 2019 2020 Source: Bloomberg and JBS, a S of February 13th, 2026

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Benchmarking with peers Trading Trading Multiple EV/ EBITDA 2025 x Footprint FY 2024 Rev. Breakdown (4) % Financial EBITDA CAGR (2) 19 - 24 (%) Return on Inv. Capital (3) Avg. 19 - 24(%) Market Cap. US$ bn Dividend Y ield (5) Avg. 19 - 24(%) EBITDA Margin (2) Avg. 19 - 24(%) 5.7x 6.5x 7.8x 9.2x 11.1x (1) Net Revenues CAGR (2) Avg. 19 - 24(%) NAM 52% A S ia 13% LatAm 19% EU 9% Other 7% 9.5% 7.5% 11.2% 14.9 5.6% 8.3% NAM 95% Other 5% 12.8% 1.2% 9.9% 12.6 2.6% 4.7% NAM 95% Other 5% 2.7% NAM 100% 7.0% 19.6% 4.4% 8.5 3.7% - 2.0% 1.6% UK 95% Other 5% (6) Return on Equity (3) Avg. 19 - 24(%) 22.9% 7.4% 19.8 11.0% 7.5% (4.2)% 8.9% 4.7% 4.0 13.9% 12.6% 13.9% 10% 10.4% 13.3% Source: Companie S ' filing S and Bloomberg a S of January 8th, 2026. Note: (1) In US COMP con S idering LTM 3Q25. (2) Except for Smithfield, which con S ider S the 2021 - 2024 period. (3) Except for Smithfield, which con S ider S the 2023 - 2024 period. (4) Limited information on Ty S on, Hormel and Cran S wick. (5) Dividend Yield for Smithfield only for 2024. (6) For Cran S wick, the period S pan S 2020 – 2025, which i S equivalent to 2019 – 2024 for other companie S .

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Growth potential via entry into US passive funds The Top - 30 Institutional holders represent 57% of the total expo S ure in Global Protein. International investors who are expo S ed to Global Protein are allocated on average 6x more to US - listed companies than to tho S e li S ted in Brazil. The gap increa S e S to 8x when considering only the exposure of Passive Investors . The S e index funds represent 59% of the total exposure in US Protein , compared to 42% in Brazil Protein. The Brazilian player S are members of the Ibovespa index , while only Tyson and Hormel take part in the S&P index. Exposure US/Brazil Exposure to US Protein Ex 1 posure to Brazil + JBS Total Exposure to Global Protein Orientation Country International Holder # 28x 3,519 253 911 2,355 125 101 24 3,644 Pa SS ive USA The Vanguard Group, Inc. 1 5x 1,837 197 438 1,202 347 70 277 2,184 Pa SS ive USA BlackRock In S titutional Tru S t Company, N.A. 2 17x 1,677 68 698 912 98 4 94 1,775 Pa SS ive USA State Street Inve S tment Management (US) 3 4x 831 831 189 189 1,020 Active USA Davi S Selected Advi S er S , L.P. 4 >1,000x 1,001 1,001 1 1 1,002 Active USA Pzena Inve S tment Management, LLC 5 15x 723 43 197 483 48 11 36 771 Pa SS ive USA Geode Capital Management, L.L.C. 6 20x 645 196 14 436 33 33 678 Pa SS ive USA AQR Capital Management, LLC 7 66x 657 61 255 341 10 0 10 667 Pa SS ive USA Inve S co Capital Management LLC 8 <1x 37 37 490 490 528 Active USA Capital Re S earch Global Inve S tor S 9 7x 427 117 127 183 59 12 47 486 Pa SS ive USA Dimen S ional Fund Advi S or S , L.P. 10 6x 398 51 181 167 69 69 468 Pa SS ive USA Two Sigma Inve S tment S , LP 11 59x 410 0 410 7 7 417 Active USA Wellington Management Company, LLP 12 >1,000x 385 18 82 285 0 0 385 Active NOR Norge S Bank Inve S tment Management (NBIM) 13 8x 311 4 85 222 41 41 351 Pa SS ive IRL BlackRock A SS et Management Ireland Limited 14 <1x 81 6 22 52 267 267 0 348 Active USA JP Morgan A SS et Management 15 114x 332 16 62 255 3 1 2 335 Pa SS ive USA Northern Tru S t Inve S tment S , Inc. 16 US only 303 0 0 303 303 Active USA T. Rowe Price A SS ociate S , Inc. 17 2x 174 14 81 79 96 96 269 Active USA Millennium Management LLC 18 15x 238 9 85 144 16 16 254 Active USA Citadel Advi S or S LLC 19 5x 208 44 83 81 44 44 252 Pa SS ive USA Morgan Stanley & Co. LLC 20 29x 239 20 50 170 8 8 248 Pa SS ive USA Charle S Schwab Inve S tment Management, Inc. 21 <1x 90 82 3 4 155 155 245 Pa SS ive USA D. E. Shaw & Co., L.P. 22 <1x 37 37 207 207 244 Active USA Capital World Inve S tor S 23 163x 239 45 19 176 1 1 0 241 Active USA Goldman Sach S A SS et Management, L.P. 24 2x 158 31 127 63 63 221 Pa SS ive USA Arrow S treet Capital, Limited Partner S hip 25 1x 113 16 3 94 105 105 218 Active USA Columbia Threadneedle Inve S tment S (US) 26 8x 178 42 136 22 22 200 Pa SS ive GBR Qube Re S earch & Technologie S Ltd 27 US only 193 67 0 126 193 Pa SS ive USA Jacob S Levy Equity Management, Inc. 28 17x 176 19 75 82 10 10 186 Pa SS ive USA UBS Financial Service S , Inc. 29 4x 146 3 36 107 33 2 31 179 Pa SS ive GBR Legal & General Inve S tment Management Ltd. 30 8,750 958 2,507 5,916 1,767 158 1,609 11,148 Other International Inve S tor S 6x 25,144 2,379 6,014 16,752 4,316 629 3,687 29,460 Total International Exposure 8x 14,838 1,721 4,076 9,041 1,824 279 1,546 16,663 Passive International Exposure 59% 72% 68% 54% 42% 44% 42% 57% Passive Exposure as % of Total International Source: Thom S onOne and Capital iQ a S of February 3rd, 2026 (Con S ider S only In S titutional Inve S tor S , di S regarding Reference Shareholder S and individual inve S tor S related to the Controlling familie S). JBS expo S ure include S both Cla SS A and BDR S (NYSE JBS + JBSS32) \| Note S : (1) MBRF; All figure S are expre SS ed in USD million, except when S pecified otherwi S e.

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50% PASSIVE FUNDS Avg. Daily ADTV USS37 million 41% PASSIVE FUNDS Avg. Daily ADTV USS108 million Shareholder base 2023 before the announcement 2025 after dual listing¹ Value 27% Index 25% Growth 22% Externally managed 8% Alternative 6% Other 7% Broker 1% 3% Pen S ion Yield 1% Value 23% Index 19% Growth 37% Alternative 5% Other 5% Externally managed 3% 6% Broker 1% Pen S ion Yield 1% US Investor: 67% US + Europe + Asia Investors: 87% US Investor: 49% US + Europe + Asia Investors: 72% + 191% Source: JBS and S&P . ¹Ba S ed on 13F filled in November, ba S ed on 09/30/2025 data.

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G - spread gap reduction between JBS and Tyson 0 50 100 400 Jul/19 Feb/20 Sep/20 Apr/21 Nov/21 Jun/22 Feb/23 Sep/23 Apr/24 Nov/24 Jun/25 Feb/26 26 bps JBS 2030 400 bps 350 300 250 200 150 TSN 2029 110 bps Nov/21 Moody's IG Jun/21 Fitch IG May/23 – Bond registration protocol Jul/23 – Exchange offer completion Aug/22 – Exchange offer and registration rights May/25 – J&F and BNDES agreement 9bps Jun/22 S&P IG Source: Bloomberg a S of February 12, 2025.

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JBS ranks #4 in the Investment Grade Food and Beverage Index Bloomberg Barclay S Credit index Breakdown by Market Value Global Aggregate Index $74.0 trn equiv. U.S. Aggregate $30.6 trn U.S. Credit $8.5 trn U.S. Corporate $7.3 trn Indu S trial $4.2 trn Con S umer Non - Cyclical $1.1 trn Food and Beverage $242 bn JBS Weight (0.025%) U.S. Credit Baa $3.6 trn U.S. Corporate Baa $3.3 trn Indu S trial Baa $2.3 trn JBS Weight (0.060%) JBS Weight (0.219%) JBS Weight (0.515%) JBS Weight (0.253%) JBS Weight (0.555%) JBS Weight (0.438%) JBS + PPC 18 Notes $18.5bn JBS Weight (1.667%) JBS Weight (7.650%) JBS Weight (0.808%) • Over $5 trn in assets benchmarked against Bloomberg Indices Globally • Voted No1 Bond Market Index provider in the US and Europe by Institutional Investor Magazine since 1997 • Voted top index provider by Credit magazine since 2004 Market Value (in USD billion S) # Bonds Duration Share Company Ticker Rank 39,5 23 10,0 16,4% Anheu S er - Bu S ch InBev ABIBB 1 30,7 43 6,9 12,7% Pep S iCo PEP 2 23,5 23 8,4 9,7% Coca - Cola Co/The KO 3 18,5 18 8,3 7,7% JBS and PPC JBS + PPC 4 13,8 16 9,0 5,7% Kraft Heinz KHC 5 11,8 19 6,1 4,9% Keurig Dr Pepper KDP 6 9,4 16 7,9 3,9% Sy S co Corp SYY 7 9,3 16 5,7 3,8% Con S tellation Brand S STZ 8 9,2 13 5,6 3,8% Diageo PLC DGELN 9 8,0 12 5,5 3,3% General Mill S GIS 10 7,0 8 6,9 2,9% Ty S on Food S TSN 11 7,0 12 5,2 2,9% Mondelez MDLZ 12 6,2 10 6,1 2,6% The Campbell' S CPB 13 6,2 9 7,7 2,6% J M Smucker Co/The SJM 14 5,9 8 5,5 2,5% Conagra Brand S CAG 15 5,9 9 4,3 2,4% Bunge BG 16 5,0 10 8,6 2,1% Archer - Daniel S ADM 17 4,2 11 6,2 1,7% Her S hey HSY 18 3,7 7 5,8 1,5% Kellanova K 19 3,4 4 5,2 1,4% Pilgrim' S Pride PPC 20 2,9 6 5,1 1,2% McCormick MKC 21 2,6 4 6,4 1,1% Coca - Cola Fem S a KOF 22 2,5 4 4,8 1,1% Hormel Food S HRL 23 2,5 2 12,0 1,0% Mol S on Coor S TAP 24 1,4 2 13,9 0,6% Coca - Cola Fem S a FEMSA 25 1,4 3 8,7 0,6% Brown - Forman BFB 26 1,3 2 4,6 0,5% Coca - Cola Con S olidated COKE 27 1,2 3 7,5 0,5% Flower S Food S FLO 28 0,9 2 7,6 0,4% Ingredion INGR 29 241,5 315 7,6 100% TOTAL Source: Bloomberg Indice S provided by Barclay S a S of 01/09/2026.

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(1) Including the US$570 million in CRA i SS uance, the repurcha S e program and S hort term debt payment. Debt profile 4,145 417 11 132 105 643 149 1,369 2,920 2,550 2,321 1,124 1,494 713 2,416 881 915 1,235 376 984 2,903 Cash and Short Equiv. Term Proforma 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 to 2051 2052 2053 2055 2056 2065 2066 500 Proforma debt amortization schedule (US$ million) Average term proforma: 15.4 yrs Average cost proforma: 5.6% p.a. Full investment grade Ca S h and equivalent S Revolving credit line S US$2.9 billion in the US + US$500 million in Brazil

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