Income taxes

6 Months Ended

Jun. 30, 2026

Major components of tax expense (income) [abstract]

a.Composition of deferred tax income and social contribution


	June 30, 2026	December 31, 2025
Deferred income tax assets	656,067	547,014
Deferred income tax liabilities	(1,175,082)	(1,169,300)
	(519,015)	(622,286)


	Balance at January 1, 2026	Income statement	Exchange variation	Other adjustments (1)	Balance at June 30, 2026
Tax loss and negative social contribution base	684,003	104,698	29,152	(4,109)	813,744
Expected credit losses on trade accounts receivable	40,098	(11,631)	984	—	29,451
Provision for contingences	81,251	(5,028)	4,334	—	80,557
Fair value adjustment	(171,114)	62,627	(4,018)	—	(112,505)
Tax credits - Foreign subsidiaries	4,062	87	(31)	—	4,118
Share-based payment	—	(329)	329	—	—
Provision for work accident insurance - Foreign subsidiaries	12,805	3,330	—	—	16,135
Pension plan - Foreign subsidiaries	2,451	(221)	(24)	272	2,478
Trade accounts payable accrual	273,051	(4,561)	3,142	—	271,632
Interest portion to be deductible	320,200	58,724	—	—	378,924
Right of use assets	31,567	3,234	1,320	—	36,121
Goodwill amortization	(847,103)	2,249	(47,849)	—	(892,703)
Business combinations	(491,382)	11,293	(1,546)	—	(481,635)
Inventory valuation	(53,021)	(57,953)	4,267	—	(106,707)
Hedge operations	41,705	(11,469)	2,349	799	33,384
Realization of other reserves	(96,535)	1,517	(6,081)	—	(101,099)
Accelerated depreciation and amortization	(528,502)	(26,687)	(5)	—	(555,194)
Cut off adjustments (sales)	16,891	(3,897)	1,350	—	14,344
Other temporary differences	57,287	(15,306)	7,959	—	49,940
Deferred taxes, net	(622,286)	110,677	(4,368)	(3,038)	(519,015)

(1) The adjustments relate primarily to the assignment of tax losses and negative tax bases from the indirect subsidiary Seara Alimentos to JBS S.A., utilized to settle tax assessments levied for third-party social security contributions on profit-sharing payments made by the company to its executives between 2012 and 2016, as well as deferred taxes on Cash flow hedge transactions recognized in other comprehensive income by the subsidiary Seara Alimentos and the pension plan in the United States of America.


	Balance at January 1, 2025	Income statement	Exchange variation	Other adjustments	Balance at June 30, 2025
Tax loss and negative social contribution base	679,275	125,091	53,310	(191,303)	666,373
Expected credit losses on trade accounts receivable	42,304	(11,510)	3,252	—	34,046
Provisions for contingencies	94,487	(9,822)	9,255	—	93,920
Fair value adjustment	(105,836)	(19,730)	(7,592)	—	(133,158)
Tax credits - Foreign subsidiaries	8,798	48	(81)	—	8,765
Provision for work accident insurance - Foreign subsidiaries	8,964	(2,773)	—	—	6,191
Pension plan - Foreign subsidiaries	3,209	3,536	(4)	(107)	6,634
Trade accounts payable accrual	249,853	11,673	6,007	—	267,533
Non-deductible interests portion - U.S. tax reform	279,572	52,150	1	—	331,723
Right of use assets	25,967	3,913	2,538	—	32,418
Goodwill amortization	(727,377)	(19,205)	(84,392)	—	(830,974)
Business combination	(465,917)	(16,763)	(4,887)	—	(487,567)
Inventory valuation	(83,507)	(16,202)	8,118	—	(91,591)
Hedge operations	45,961	(14,235)	5,541	49	37,316
Realization of other reserves	(88,113)	1,263	(11,802)	—	(98,652)
Accelerated depreciation and amortization	(479,922)	(13,270)	(2)	—	(493,194)
Cut-off adjustment (sales)	15,274	1,980	2,152	—	19,406
Other temporary differences	52,895	34,360	(27,039)	—	60,216
Deferred taxes, net	(444,113)	110,504	(45,625)	(191,361)	(570,595)

b.Reconciliation of income tax and social contribution expense:


	Six-month period ended June 30,				Three-month period ended June 30,
	2026		2025		2026		2025
Profit (loss) before taxes	86,609		1,430,601		(222,084)		736,497
Brazilian statutory corporate tax rate	(34)	%	(34)	%	(34)	%	(34)	%
Expected tax expense (benefit)	(29,447)		(486,404)		75,509		(250,409)

Adjustments to reconcile taxable income tax expense (benefit):
Share of profit of equity-accounted investees	4,596		3,589		(42,466)		2,659
Non-taxable tax benefits	120,833		107,024		63,081		56,103
Difference of tax rates on taxable income from foreign subsidiaries	(20,070)		46,964		(25,797)		22,259
Profits taxed by-foreign jurisdictions	(14,725)		(81,997)		7,836		30,683
Current year deferred taxes not recognized and deferred taxes recognized from prior years	(14,948)		76,067		35,452		(26,104)
Non-taxable interest - Foreign subsidiaries	6,581		6,263		3,281		3,145
Donations and social programs	(1,827)		—		(1,054)		—
SELIC interest on tax credits	1,306		31,315		504		3,693

Brazilian tax incentive law - Lei do Bem	—		1,397		—		1,397
Other permanent differences	6,507		15,829		9,562		14,391
Current and deferred income tax benefit (expense)	58,806		(279,953)		125,909		(142,183)

Current income tax	(51,871)		(390,457)		(18,101)		(165,666)
Deferred income tax	110,677		110,504		144,010		23,483
	58,806		(279,953)		125,909		(142,183)
Effective income tax rate	67.90	%	(19.57)	%	(56.69)	%	(19.31)	%

Global Minimum Tax:

As disclosed in the Group’s annual consolidated financial statements as of December 31, 2025, the Group monitors the Pillar Two global minimum tax rules applicable in the jurisdictions in which it operates. Based on the assessments performed to date, no significant tax exposure has been identified for the six-month period ended June 30, 2026.