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Supplemental financial information

6 Months Ended

Jun. 30, 2026

Supplemental Financial Information [Abstract]

Supplemental financial information

Supplemental financial information

The Group’s income and cash flow are generated by its subsidiaries. As a result, funds necessary to meet the Group's debt service obligations, including its obligations as the issuer under its existing senior unsecured notes, are provided in large part by distributions or advances from its subsidiaries. Under certain circumstances, contractual and legal restrictions, as well as the Group's financial condition and operating requirements and those of certain subsidiaries, could limit the Group’s ability to obtain cash for the purpose of meeting its debt service obligations, including the payment of principal and interest on its Senior Unsecured Notes.

In compliance with the reporting covenant under the indentures governing the Senior Unsecured Notes, the financial information set forth below is presented under the following column headings: Restricted Subsidiaries and Unrestricted Subsidiaries.

Restricted Subsidiaries consist of all of the Group’s subsidiaries, except the Unrestricted Subsidiaries. Unrestricted Subsidiaries are: JBS Wisconsin Properties and its subsidiaries (including PPC), JBS Captive Insurance and Moyer Distribution.

Consolidated statements of financial position:

			June 30, 2026
			Restricted subsidiaries						Unrestricted subsidiaries						Eliminations						Total
ASSETS
CURRENT ASSETS
Cash and cash equivalents			3,078,875						390,245						—						3,469,120
Margin cash			158,320						9,981						—						168,301
Trade accounts receivable			2,603,111						960,753						(8,421)						3,555,443
Inventories			5,877,189						1,119,011						—						6,996,200
Biological assets			1,255,875						554,400						—						1,810,275
Recoverable taxes			873,296						215,558						—						1,088,854
Derivative assets			96,555						21,615						—						118,170
Other current assets			351,480						230,241						(31,313)						550,408
TOTAL CURRENT ASSETS			14,294,701						3,501,804						(39,734)						17,756,771
NON-CURRENT ASSETS
Long-term investments			50,949						—						—						50,949
Recoverable taxes			2,085,715						—						—						2,085,715
Biological assets			287,935						372,131						—						660,066
Related party receivables			32,709						—						—						32,709
Deferred income taxes			626,655						29,412						—						656,067
Other non-current assets			412,845						151,043						—						563,888
Investments in equity-accounted investees			3,311,591						—						(3,085,928)						225,663
Property, plant and equipment			10,615,458						3,800,539						—						14,415,997
Right of use assets			1,387,704						234,143						—						1,621,847
Intangible assets			937,023						847,764						—						1,784,787
Goodwill			4,668,815						1,315,102						—						5,983,917
TOTAL NON-CURRENT ASSETS			24,417,399						6,750,134						(3,085,928)						28,081,605
TOTAL ASSETS			38,712,100						10,251,938						(3,125,662)						45,838,376

			June 30, 2026
			Restricted subsidiaries						Unrestricted subsidiaries						Eliminations						Total
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade accounts payable			4,182,907						1,676,895						(8,140)						5,851,662
Supply chain finance			955,242						240,306						—						1,195,548
Loans and financing			1,291,033						43,864						—						1,334,897
Income taxes			28,336						94,587						—						122,923
Other taxes payable			169,025						18,588						—						187,613
Payroll and social charges			1,040,133						338,198						—						1,378,331
Lease liabilities			306,773						61,926						—						368,699
Dividends payable			117						—						—						117
Provisions for legal proceedings			38,325						182,106						—						220,431
Derivative liabilities			103,629						13,179						—						116,808
Other current liabilities			629,386						207,794						(31,594)						805,586
TOTAL CURRENT LIABILITIES			8,744,906						2,877,443						(39,734)						11,582,615
NON-CURRENT LIABILITIES
Loans and financing			18,455,982						2,859,810						—						21,315,792
Income and other taxes payable			401,062						23,374						—						424,436
Payroll and social charges			335,598						2,207						—						337,805
Lease liabilities			1,236,256						189,262						—						1,425,518
Deferred income taxes			715,129						459,953						—						1,175,082
Provisions for legal proceedings			223,544						—						—						223,544
Related party payable			142,536						—						—						142,536
Derivative liabilities			101,901						—						—						101,901
Other non-current liabilities			42,810						7,276						—						50,086
TOTAL NON-CURRENT LIABILITIES			21,654,818						3,541,882						—						25,196,700
EQUITY
Share capital - common shares			5,209,931						1,352,355						(6,520,726)						41,560
Reserves			2,824,158						1,805,301						3,434,798						8,064,257
Undistributed results			190,213						(71,728)						—						118,485
Attributable to company shareholders			8,224,302						3,085,928						(3,085,928)						8,224,302
Attributable to non-controlling interest			88,074						746,685						—						834,759
TOTAL EQUITY			8,312,376						3,832,613						(3,085,928)						9,059,061
TOTAL LIABILITIES AND EQUITY			38,712,100						10,251,938						(3,125,662)						45,838,376

			December 31, 2025
			Restricted subsidiaries						Unrestricted subsidiaries						Eliminations						Total
ASSETS
CURRENT ASSETS
Cash and cash equivalents			3,921,730						643,406						—						4,565,136
Margin cash			159,048						514						—						159,562
Trade accounts receivable			3,055,286						1,188,544						(11,906)						4,231,924
Dividends receivable			1,465						—						—						1,465
Inventories			4,949,488						1,157,677						—						6,107,165
Biological assets			1,288,243						538,523						—						1,826,766
Recoverable taxes			721,761						241,507						(6,057)						957,211
Derivative assets			140,971						14,631						—						155,602
Other current assets			242,811						202,424						(11,863)						433,372
TOTAL CURRENT ASSETS			14,480,803						3,987,226						(29,826)						18,438,203
NON-CURRENT ASSETS
Long-term investments			45,780						—						—						45,780
Recoverable taxes			1,874,572						—						—						1,874,572
Biological assets			256,583						355,216						—						611,799
Related party receivables			41,231						—						—						41,231
Deferred income taxes			516,308						31,474						(768)						547,014
Other non-current assets			378,828						109,975						—						488,803
Investments in equity-accounted investees			3,198,779						—						(3,027,167)						171,612
Property, plant and equipment			10,077,519						3,568,139						—						13,645,658
Right of use assets			1,370,826						242,821						—						1,613,647
Intangible assets			942,690						882,902						—						1,825,592
Goodwill			4,513,691						1,338,884						—						5,852,575
TOTAL NON-CURRENT ASSETS			23,216,807						6,529,411						(3,027,935)						26,718,283
TOTAL ASSETS			37,697,610						10,516,637						(3,057,761)						45,156,486

			December 31, 2025
			Restricted subsidiaries						Unrestricted subsidiaries						Eliminations						Total
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade accounts payable			4,313,158						1,895,272						(1,033)						6,198,100
Supply chain finance			1,134,459						—						—						1,134,459
Loans and financing			781,928						51,157						—						833,085
Income taxes			170,093						123,994						(6,057)						288,030
Other taxes payable			119,893						33,066						—						152,959
Payroll and social charges			1,072,999						48,716						—						1,560,159
Lease liabilities			294,217						6,067						—						354,887
Dividends payable			—						—						—						—
Provisions for legal proceedings			159,217						—						—						159,217
Derivative liabilities			152,218						4,187						—						156,405
Other current liabilities			398,770						319,178						(13,439)						704,509
TOTAL CURRENT LIABILITIES			8,596,952						2,481,637						(20,529)						11,541,810
NON-CURRENT LIABILITIES
Loans and financing			17,166,293						3,091,190						—						20,257,483
Income and other taxes payable			385,147						2,258						—						407,727
Payroll and social charges			303,900						(15,835)						—						288,065
Lease liabilities			1,212,245						200,153						—						1,412,398
Deferred income taxes			695,746						474,322						(768)						1,169,300
Provisions for legal proceedings			209,358						—						—						209,358
Related party payable			190,998						—						—						190,998
Derivative liabilities			114,376						—						—						114,376
Other non-current liabilities			34,138						8,042						—						42,180
TOTAL NON-CURRENT LIABILITIES			20,312,201						3,760,130						(768)						24,091,885
EQUITY
Share capital - common shares			5,145,820						1,351,259						(6,461,965)						35,114
Reserves			6,803,802						(221,108)						—						6,582,694
Undistributed results			(3,246,042)						1,897,016						3,434,798						2,085,772
Attributable to company shareholders			8,703,580						3,027,167						(3,027,167)						8,703,580
Attributable to non-controlling interest			84,877						734,334						—						819,211
TOTAL EQUITY			8,788,457						3,761,501						(3,027,167)						9,522,791
TOTAL LIABILITIES AND EQUITY			37,697,610						10,003,268						(3,048,464)						45,156,486

Consolidated statements of income:

			Six-month period ended June 30, 2026
			Restricted subsidiaries						Unrestricted subsidiaries						Eliminations						Total
NET REVENUE			36,439,203						9,153,043						(84,041)						45,508,205
Cost of sales			(32,761,445)						(7,918,312)						84,041						(40,595,716)
GROSS PROFIT			3,677,758						1,234,731						—						4,912,489
General and administrative expenses			(714,352)						(429,397)						—						(1,143,749)
Selling expenses			(2,152,937)						(560,590)						—						(2,713,527)
Other income			59,768						10,043						—						69,811
Other expenses			(24,071)						(19,357)						—						(43,428)
NET OPERATING EXPENSES			(2,831,592)						(999,301)						—						(3,830,893)
OPERATING PROFIT			846,166						235,430						—						1,081,596
Finance income			277,034						30,794						—						307,828
Finance expense			(1,201,370)						(116,239)						—						(1,317,609)
NET FINANCE EXPENSE			(924,336)						(85,445)						—						(1,009,781)
Share of profit of equity-accounted investees, net of tax			14,794						—						—						14,794
PROFIT (LOSS) BEFORE TAXES			(63,376)						149,985						—						86,609
Current income taxes			(10,007)						(41,864)						—						(51,871)
Deferred income taxes			105,024						5,653						—						110,677
TOTAL INCOME TAXES			95,017						(36,211)						—						58,806
NET INCOME (LOSS)			31,641						113,774						—						145,415
ATTRIBUTABLE TO:
Company shareholders			25,090						93,395						—						118,485
Non-controlling interest			6,551						20,379						—						26,930
			31,641						113,774						—						145,415

			Three-month period ended June 30, 2026
			Restricted subsidiaries						Unrestricted subsidiaries						Eliminations						Total
NET REVENUE			19,326,455						4,623,455						(50,330)						23,899,580
Cost of sales			(17,359,139)						(4,002,870)						50,330						(21,311,679)
GROSS PROFIT			1,967,316						620,585						—						2,587,901
General and administrative expenses			(333,353)						(254,772)						—						(588,125)
Selling expenses			(1,121,215)						(289,766)						—						(1,410,981)
Other income			21,112						7,015						—						28,127
Other expenses			(5,849)						(13,964)						—						(19,813)
NET OPERATING EXPENSES			(1,439,305)						(551,487)						—						(1,990,792)
OPERATING PROFIT			528,011						69,098						—						597,109
Finance income			122,525						13,126						—						135,651
Finance expense			(767,937)						(63,286)						—						(831,223)
NET FINANCE EXPENSE			(645,412)						(50,160)						—						(695,572)
Share of profit of equity-accounted investees, net of tax			(123,621)						—						—						(123,621)
PROFIT (LOSS) BEFORE TAXES			(241,022)						18,938						—						(222,084)
Current income taxes			(11,243)						(6,858)						—						(18,101)
Deferred income taxes			143,287						723						—						144,010
TOTAL INCOME TAXES			132,044						(6,135)						—						125,909
NET INCOME (LOSS)			(108,978)						12,803						—						(96,175)
ATTRIBUTABLE TO:
Company shareholders			(112,689)						10,580						—						(102,109)
Non-controlling interest			3,711						2,223						—						5,934
			(108,978)						12,803						—						(96,175)

			Six-month period ended June 30, 2025
			Restricted subsidiaries						Unrestricted subsidiaries						Eliminations						Total
NET REVENUE			31,395,837						9,214,898						(86,559)						40,524,176
Cost of sales			(27,671,997)						(7,481,666)						86,559						(35,067,104)
GROSS PROFIT			3,723,840						1,733,232						—						5,457,072
General and administrative expenses			(752,599)						(326,112)						—						(1,078,711)
Selling expenses			(1,926,466)						(468,171)						—						(2,394,637)
Other income			40,754						7,316						—						48,070
Other expenses			(16,925)						(26,874)						—						(43,799)
NET OPERATING EXPENSES			(2,655,236)						(813,841)						—						(3,469,077)
OPERATING PROFIT			1,068,604						919,391						—						1,987,995
Finance income			249,440						55,657						—						305,097
Finance expense			(759,879)						(113,168)						—						(873,047)
NET FINANCE EXPENSE			(510,439)						(57,511)						—						(567,950)
Share of profit of equity-accounted investees, net of tax			10,556						—						—						10,556
PROFIT BEFORE TAXES			568,721						861,880						—						1,430,601
Current income taxes			(158,249)						(232,208)						—						(390,457)
Deferred income taxes			90,584						19,920						—						110,504
TOTAL INCOME TAXES			(67,665)						(212,288)						—						(279,953)
NET INCOME			501,056						649,592						—						1,150,648
ATTRIBUTABLE TO:
Company shareholders			494,483						533,820						—						1,028,303
Non-controlling interest			6,573						115,772						—						122,345
			501,056						649,592						—						1,150,648

			Three-month period ended June 30, 2025
			Restricted subsidiaries						Unrestricted subsidiaries						Eliminations						Total
NET REVENUE			16,285,662						4,754,579						(42,585)						20,997,656
Cost of sales			(14,396,821)						(3,810,899)						42,585						(18,165,135)
GROSS PROFIT			1,888,841						943,680						—						2,832,521
General and administrative expenses			(330,580)						(191,704)						—						(522,284)
Selling expenses			(972,216)						(234,824)						—						(1,207,040)
Other income			13,208						4,517						—						17,725
Other expenses			(7,130)						(8,712)						—						(15,842)
NET OPERATING EXPENSES			(1,296,718)						(430,723)						—						(1,727,441)
OPERATING PROFIT			592,123						512,957						—						1,105,080
Finance income			47,666						21,771						—						69,437
Finance expense			(384,468)						(61,373)						—						(445,841)
NET FINANCE EXPENSE			(336,802)						(39,602)						—						(376,404)
Share of profit of equity-accounted investees, net of tax			7,821						—						—						7,821
PROFIT BEFORE TAXES			263,142						473,355						—						736,497
Current income taxes			(38,295)						(127,371)						—						(165,666)
Deferred income taxes			14,991						8,492						—						23,483
TOTAL INCOME TAXES			(23,304)						(118,879)						—						(142,183)
NET INCOME			239,838						354,476						—						594,314
ATTRIBUTABLE TO:
Company shareholders			236,907						291,172						—						528,079
Non-controlling interest			2,931						63,304						—						66,235
			239,838						354,476						—						594,314

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- Definition

The disclosure of information about separate financial statements.

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-Number 27
-IssueDate 2025-01-01
-Section Disclosure
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Supplemental Financial Information [Abstract]

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