7/30/2019 Presentation JBS

1/5

JBS S.A.

Debt IssuanceOctober 2012

7/30/2019 Presentation JBS

2/5

2PAGE

Debt Securities Issued

Description2016 Notes: JBS S.A.

2016 Notes: Bertin

2014 Notes: JBS USA2018 Notes: JBS S.A.

2018 Notes: PPC

2021 Notes: JBS USA

2020 Notes: JBS USA, LLC

Principal Total Term Coupon MaturityUSD 300 MMUSD 350 MM

USD 700 MMUSD 900 MMUSD 500 MMUSD 650 MMUSD 700 MM

10 years10 years

5 years7.5 years8 years10 years8 years

10.500% p.a.10.250% p.a.

11.625% p.a.8.250% p.a.7.875% p.a.7.250% p.a.8,250% p.a.

Aug, 2016Oct, 2016

May, 2014Jan, 2018Dec, 2018Jun, 2021Feb, 2020

AgencyGlobal

Global

BB-

BB

Fitch

Standard & Poors

Global B1Moodys

Scale Rating Outlook Last UpdateNegative

Stable

Stable

08/16/2012

11/04/2011

12/06/2011

JBS S.A. / JBS USA

Agency

BStandard & Poors

B2Moodys

Rating Outlook Last Update

Negative

Negative

08/22/2012

11/16/2011

Pilgrims Pride

7/30/2019 Presentation JBS

3/5

3PAGE

Corporate Structure and Guarantors

JBS S.A.

JBS USA Pork

100.0%

100.0%100.0%100.0%

100.0%

75.0%

JBS Five Rivers

JBS Australia

USD700mm Notes due 2014

USD650mm Notes due 2021

USD700mm Notes due 2020

JBS USA Beef

JBS Hungary Holdings Kft

JBS USA Holdings

Pilgrims Pride

JBS USA, LLCJBS USA Finance, Inc.

USD350mm Notes due 2016 (ex-Bertin)

USD300mm Notes due 2016

USD900mm Notes due 2018

USD500mm Notes due 2018

Bond Guarantor

Notes 2016 - JBS S.A. JBS Hungary, JBS USA Holdings, JBS USA and Swift Beef CompanyNotes 2016 - Bertin JBS HungaryNotes 2014 - JBS USA JBS, JBS Hungary, JBS USA Holdings and all JBS USA's U.S. restricted subsidiariesNotes 2018 - JBS S.A. JBS S.A., JBS HungaryNotes 2018 - PPC Pilgrims Pride Corporation of West Virginia, Inc.Notes 2021 - JBS USA JBS, JBS Hungary, JBS USA Holdings and all JBS USA's U.S. restricted subsidiariesNotes 2020 - JBS USA LLC

JBS S.A., and each of wholly-owned U.S. restricted subsidiaries

7/30/2019 Presentation JBS

4/5

4PAGESource: JBS

Debt Profile

2Q12 Net debt to EBITDA was 4.27x.

The Company ended the quarter with R$5.475 billion in cash or cash equivalent, which represents more than 110% of short-term deb

3.60

4.04 4.004.30 4.27

0

1

2

3

4

-100

100

300

500

700

900

1100

1300

1500

2Q11 3Q11 4Q11 1Q12 2Q12

. Leverage EBITDA

Leverage

.

23%

27%

28%

28%

77%

73%

72%

72%

2Q12

1Q12

4Q11

3Q11

Short Term Long Term

ST / LT Debt Profile

The percentage of short term debt decreased from 27% in 1Q12 to 23% in 2Q12

7/30/2019 Presentation JBS

5/5

5PAGE

Bonds37%

Other 63%2Q12

Debt Maturity Schedule and Profile

JBS S.A.57%

Subsidiaries43%2Q12

Bonds / Other

Source: JBS Financial Statements 2Q12

Net Debt: 15,276.9 (R$ million)

656

883

4,469

1,3812,567

169

3,726

2,738

Short Term Netof Cash 2013 2014 2015 2016 2017 2018 2019 and after

Breakdown by Currency and Company

R$ 25% USD 75%2Q12