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Camil is one of the largest food companies in Latin America with a portfolio of well-known brands. It has a solid business model with resilient margins due to its weekly pricing and cost transfer capabilities. Over its 60-year history, Camil has expanded its operations through strategic acquisitions across multiple countries and categories in Brazil and Latin America, establishing unique expertise in the region.

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Institutional Presentation Nov, 2023
Financial data is presented in accordance with the International Financial Reporting Standards and represents the Company's consolidated results in millions of reais (R$), unless otherwise indicated. The Company's fiscal year begins in March and ends in February of the following year (inclusive). The results presented here include recent transaction data as of their conclusion, except when specified. This presentation may contain forward-looking statements that are inherently difficult to predict. Actual results could differ materially for a variety of reasons. Forward-looking statements speak only as of the date they are made, and the Company does not assume any obligation to update them in light of new information or future developments. This material is published solely for informational purposes and should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Likewise, it does not provide, and should not be treated as providing, investment advice. It has no regard for the specific investment objectives, financial situation, or particular needs of any recipient. No representation or warranty, either express or implied, is provided regarding the accuracy, completeness, or reliability of the information contained herein. Recipients should not consider it a substitute for the exercise of their own judgment. This presentation contains summarized information that should not be considered complete. Certain percentages and other amounts included in this document have been rounded to facilitate its presentation. Therefore, numbers presented as totals in some tables may not represent the arithmetic sum of the numbers that precede them and may differ from those presented in the financial statements. Operational data is not audited, as it consists of measures that are not recognized by IFRS or other accounting standards. Neither this presentation nor anything contained herein should create the basis for any contract or commitment. All information contained here is subject to adjustments and revisions without notice. By creating this presentation, neither the Company nor any of its affiliated companies, directors, executives, or employees assume any obligation to provide the receiver access to any additional information, update this presentation or any information, or correct any inaccuracy in any of this information. This presentation does not contain all the relevant information about the Company. Disclaimer 2
I. Camil Alimentos S.A. II. Categories Overview III. Capital Markets & Transactions IV. ESG Appendix A. Selected Comparable Companies Table of Contents 3
Section I Camil Alimentos Overview
Camil: One of the Largest Food Companies in LatAm 5 One of the Leading Companies in LatAm Leadershipin BrazilandLatAm across differentbusinesssegments Unique Expertise of the Brazilian Market Unmatchedexperiencein Braziland provenabilityto growth intonew markets Strong ESG Standards Best-in-classcorporategovernancecoupledwith a strongenvironmental& socialagenda Solid Business Model with Resilient Margins Weeklyprice transferandabilityto maintainprofitabilityinadverse scenarios Broad Product Offering Widerange of productsaddressing differentvaluepropositionsto clients Tangible Growth Avenues Naturalmarketconsolidatorin Brazil, alreadytested intopractice (R$mn) Net Revenues by Segment Strong Positioning Strongcashpositionandinvestment gradedebt profile Notes: Company fiscal year begins in March and ends in February of the following year (inclusive)
60% 7% 32% (%) Volume 52% 19% 29% (%) Net Revenue Camil At-a-Glance Founded in 1963, Camil is a strong food platform for dry goods and recognized brands throughout LatAm  One of the largest food companies in LatAm  Business model includes industrialization, commercialization and distribution of grains, sugar, pasta, canned fish, coffee, biscuits/cookies and other dry goods  Well-known and recognized brands in Brazil, Uruguay, Chile, Peru and Ecuador  Exports to more than 60 countries Processing and Distribution Platform Representativeness by Segment Camil: One of the Largest Food Companies in LatAm High Turnover includes rice, beans and sugar categories High Growth includes fish, pasta, coffee and biscuits categories International includes Uruguay, Chile, Peru and Ecuador operations Uruguay Chile Peru Brazil Ecuador 35 processing facilities 23 distribution centers distributed throughout LatAm Operations in 5 countries and multiple categories in Brazil 8k employees Grains Processing Facilities: 29 - 12 in Brazil - 17 International Fish Processing Facilities: 1 Sugar Packaging Facilities: 1 Pasta Processing Facilities: 1 Coffee Processing Facilities: 1 Cookies Processing Facilities: 2 Distribution Centers: 23 Camil’s Facilities 6 Main Brands Sugar Fish Pasta Coffee Iconic brand recognition in all categories and countries Cookies Grains and Dry Goods 2Q23
60’s: Foundation 80’s: Professionalization and Organic Expansion 2000’s: Acquisitions / International Expansion 2017-2022: IPO + Recent Transactions Over the past 60 years, Camil has expanded its portfolio of brands in LatAm, proven its capacity of successfully identifying, acquiring and integrating strategic acquisitions Unique Expertise in the LatAm Market Foundation, in the city of Itaqui-RS Pioneer in distributing packaged rice (migration from rice in bulk) Inauguration of the distribution center in SP Beans commercialization Acquisition of SAMAN Brazil in Pernambuco Logistics expansion: new subsidiaries in North and Northeast regions Acquisition of Saman in Uruguay Acquisition of Rio Grande plant (Brazil) Acquisition of Tucapel (Chile) Acquisition of SLC Alimentos Sale of La Loma (Argentina) Acquisition of Bom Maranhense (Brazil) Camil’s IPO (B3) Acquisition of canned fish (Brazil) and Costeño (Peru) Acquisition of sugar category (Brazil) Acquisition of Carreteiro (Brazil) and La Loma (Argentina) Warburg Pincus divestment (Buyback) 2001 2002 2005 2007 2008 2009 2022 1963 1987 2014 2017 2018 2019 2021 2010 2011 2012 2013 1974 1975 Acquisition of Camaquã plant in Rio Grande do Sul Acquisition of Paisana (Peru) •Santa Amália (Brazil - Pasta) •Seleto brand (Brazil - Coffee) •Café Bom Dia (Brazil - Coffee) •Dajahu (Equador) •Silcom S.A. (Uruguai) Launch: Coffee business (União brand) 7 •Mabel & Toddy – biscuits and Cookies
Unique Positioning within the Production Chain Camil is not engaged in any step of the agriculture process Main Brand Agriculture Origination Processing Packaging Distribution Marketing Pricing and Purchasing Strategy Grains and dry goods Sugar Fish Pasta  Purchases at spot prices  Weekly cost transfer capability  Company offers storage to the producers  Advance to producers: partial inventories guarantee  Price paid to producers based on Saman’s sale price - regulated price system in Uruguay  Stable margins and no FX risk (despite the export-oriented business)  Local purchases at market price (~50%)  Also imports rice from Saman (intercompany)  Most part of its rice imported from Saman (intercompany)  Long term supply contract with Raízen: guaranteed volume  Contract pricing based on international sugar prices (NY #11)  Weekly cost transfer capability  Local acquisitions at market prices, complemented by import contracts  Concentrated industry favors price discipline (2 players with ~90% market share) Coffee  Local weekly purchases at market price  >130 suppliers located close to the plant  Local acquisitions at market prices  Purchasing strategy follows the industry (3-4 month position)  Different cost transfer dynamics  Local acquisitions at market prices: suppliers located close to the plant  Different cost transfer dynamics (1- 2 months) 8 Cookies  Local acquisitions at market prices  Purchasing strategy follows the industry  Different cost transfer dynamics
9,1% 5,9% 10,9% 6,7% 8,4% 4,3% 2,2% -4,3% -6,3% 2,0% 2,3% 1,3% 1,2% 1,4% 1,0% 5,1% -0,1% 7,5% 3,9% 1,9% 3,0% 0,1% -3,8% -3,6% 1,0% 1,1% 1,1% -4,1% 4,6% 2,9% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Retail Sales Total GDP For over 15 years, Camil has posted solid operational and profitable results, even with a slowdown in the Brazilian economy 9 Solid Business Model with Stable and Resilient Margins Notes: Company fiscal year begins in March and ends in February of the following year (inclusive); (1) BCB, Focus Volume and Growth (mn ton, %) EBITDA, Gross Margin and EBITDA Margin (R$mn, %) Net Revenues by Segment (R$mn) Camil continue to grow in volumes and revenues, despite years in Brazil with a GDP decrease Brazil: GDP and Retail Sales¹ (% growth, real terms) CAGR2008A-2022 12.0% CAGR2008A-2022 13.6% CAGR2008A-2022 11,0%
Adjusted selling price (1) (CIF - R$/30kg) Notes: (1) Adjusted by the monthly inflation of the period, since Jan/2006 (Gross margin) Average sale price (R$/30kg)2 Average cost (R$/30kg)2 Sale / Cost Year Subtitle Average purchase price (CIF - R$/30kg) Gross margin (% net revenue) Average selling price (CIF - R$/30kg) Historically Camil has maintained resilient margins, mainly due to its weekly pricing capacity Business Model: Proven Cost Transfer Capability (rice case) Solid Business Model with Stable and Resilient Margins Brazil: Rice Case (Price: CIF – R$/30kg) 10 2006 39.40 22.69 1.74 2007 41.98 24.80 1.69 2008 53.90 34.18 1.58 2009 51.05 30.76 1.66 2010 50.54 28.63 1.77 2011 45.51 25.11 1.81 2012 55.82 34.41 1.62 2013 59.20 35.52 1.67 2014 63.49 36.50 1.74 2015 67.32 37.51 1.79 2016 80.46 47.16 1.71 2017 74.03 39.70 1.86 2018 75.89 41.60 1.82 2019 77.58 46.57 1.67 2020 118.01 80.23 1.47 2021 115.53 76.58 1.51 2022 123.87 80.84 1.53
Coffee Sugar Grains - Brazil International Grains - Brazil Fish Pasta Cookies & Biscuits 11 HIGH TURNOVER HIGH GROWTH Products and Brand Awareness PORTFOLIO AND NEW CATEGORIES 2021-2022 +4 CATEGORIES & +1 COUNTRY Pastas, Biscuits & Coffee (Brazil) Health Products (Uruguay) Rice (Ecuador)
High Added Value Premium Upper Mainstream Mainstream Other Brands VALUE VOLUME 12 Commercial Strategy by Product Value • Commercial Execution focused on Upper mainstream to high added value portfolio Wide range of products addressing different value propositions to clients and consumers Portfolio: recognized brands and high added value items
Main Competitor Unique Footprint  Points of sale reaching a big part of the population in Brazil – specially in SP  Wide presence across all States of Brazil Pricing Power  "Brand of sugar": higher prices compared to the main competitors Market Leadership  Absolute Leadership with 82% of Top-of-Mind¹  Total Company refined sugar brands have ~40%² market share Market Share 13  115 100 Sugar price³ 1º +5% 105 100 Camil Others Rice Strategy  Replicating the sugar model from commodity to brand  Focus on branding and premium price strategy Rice price³ Others Iconic Brand Recognition and Premium Prices Sugar Successful Case from Commodity to Brand +15% 40% União: Brand of strong emotional bond, preferred by consumers and with greater perception of value Notes: (1) Top of Mind Camil Ipsos; (2) Nielsen Retail Index for Sugar (INA+C&C for 1kg – represents ~90% of refined market); (3) Price Index Nielsen (launch in 1S22) Coffee   
86 vs. 47 (3º) Brand Awareness Complementary product portfolio composed of strong and most recognized brands by consumers M A I N B R A N D S - B r a z i l I N T E R N AT I O N A L B R A N D S BHT - Brand Health Tracking¹ Bought the Product before Recognition 98 vs. 75 (3º) 78 vs. 52 (2º) 74 vs. 9 (2º) 95 vs. 60 (2º) 99 vs. 90 (2º) Sardines Tuna 95 vs. 78 (2º) 98 vs. 96 (2º) 75 vs. 88 (1º) 93 vs. 99 (1º) December, 2021 Brazil 1st 1st 1st Market Share² 14% 1) BHT - from 0 to 100: grains: 300 people in São Paulo – SP; Sugar: 200 people in SP and RJ; 200 people Sardines: Pernambuco Tuna: Sâo Paulo – SP; Consider a NPS from 0 to 100 of consumers who contacted us on one of our channels: 0800, Fale Conosco, Reclame Aqui, Redes Sociais, Consumidor.gov.; 2) Nielsen Retail Index for Rice (INA+C&C); Nielsen Scantrack Index for Beans (AS+C&C); Nielsen Retail Index for Sugar (INA+C&C 1kg – represents ~90% of refined market); Nielsen Retail Index for Sardine and Tuna (INA+C&C); Nielsen Index for Pasta (INA+C&C); Uruguay: Consecha Comision Sectorial del Arroz; Chile: Nielsen Scantrack; Peru: Kantar Worldpanel. 14 Brand Recognition •Folha de São Paulo Top of Mind Award União won as the most remembered brand in the Southeast region •Folha de São Paulo Top of Mind Award Camil 1st - Beans; União 1st - Sugar 20% (aged rice) 9% 40% 40% 1st 2nd 1st 2nd 2nd 23% 4th 7% Brazil; 41% MG 48% 33% 37% 1st 2nd 1nd •União: registered as Alto Renome (highly renowned) brand 2% Brazil; 5% GSP/GRJ 1st 2st Rice Sugar Beans 1st Rice Beans Sugar Sardine Tuna Pasta Coffee
30% 51% 11% 8% Distributors Wholesale Retailers Industry 62% 21% 5% 12% Retailers Distributors & Wholesale Industry Small Retails Own Sales Force Wholesale Retailers Key Accounts Outsourced Sales Force Distributor # Indicates the representativen ess of direct points of sale by region in Brazil 23% 9% 44% 24% % Sales (ton) 15 Wholesale Stores / Retailers Brazil Key Accounts A LatAm successful case of a strong distribution network favoring the business expansion to new segments Wide Distribution Network Equador Uruguay 91% of sales made by the company’s own sales force and 9% from distributors (canned fish) 38% 22% 32% 9% Brazil Chile Brazil: % Sales (ton) Peru 26% 74% National International 7% 30% 58% 5% Small Retailers Wholesale Key Accounts Distribution
Section II Categories Overview
- 50,0 100,0 150,0 200,0 250,0 300,0 350,0 400,0 - 0,5 1,0 1,5 2,0 2,5 3,0 3,5 4,0 4,5 5,0 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 Camil's Gross Price Rice - Mkt. Price Beans - Mkt. Price Sugar - Mkt. Price - 50.000 100.000 150.000 200.000 250.000 300.000 350.000 400.000 450.000 1Q07 3Q07 1Q08 3Q08 1Q09 3Q09 1Q10 3Q10 1Q11 3Q11 1Q12 3Q12 1Q13 3Q13 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 457 454 473 505 560 817 1267 1196 1169 1229 1210 1236 1351 1401 1478 1335 - 200.000 400.000 600.000 800.000 1.000.000 1.200.000 1.400.000 1.600.000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 17 Brazil Food Segment | High Turnover High turnover: Grains and Sugar in Brazil Substantial Historical Growth in a Fragmented Industry - Consolidation Opportunity CAGR 07-22: +6.9% Through Organic and Inorganic Growth, Camil is an Undisputed Market Leader in Rice, Beans and Sugar in Brazil Main Brands¹ Camil Historical Annual Volume (k ton) Camil’s Gross Price vs. Market Prices (R$/kg) Camil Historical Quarterly Volume (k ton) • Camil - Rice: #1 Rice Brand in Brazil, with 14% market share • Camil - Beans: #2 Beans Brand in Brazil, with 9% market share • União - Sugar: #1 Refined Sugar Brand in Brazil, with 40% market share and a 15% premium prices • Other brands: +10 value priced brands to meet the demand of consumers seeking for lower prices and regional brands High turnover: weekly cost transfer capability Mkt. Prices Camil’s Gross Price Notes: (1) Nielsen Retail Index for Rice (INA+C&C); Nielsen Scantrack Index for Beans (AS+C&C); Nielsen Retail Index for Sugar (INA+C&C 1kg – represents ~90% of refined market). (2) CEPEA; rice indicator Esalq/Senar-RS 50kg; Agrolink; beans indicator Sc 60kg; CEPEA; Cristal Sugar indicator Esalq-SP 50kg. 2
0 500 1000 1500 2000 - 5,00 10,00 15,00 20,00 25,00 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 High Growth Gross Price Wheat - Mkt. Price Coffee - Mkt. Price - 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000 45.000 50.000 3Q11 1Q12 3Q12 1Q13 3Q13 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 4 34 33 32 37 40 36 35 39 37 60 140 - 20.000 40.000 60.000 80.000 100.000 120.000 140.000 160.000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 18 Brazil Food Segment | High Growth High Growth: canned fish, pasta, biscuits/cookies and coffee in Brazil High Growth Opportunity with well-recognized brands and a portfolio with value added categories in Brazil CAGR 11-22’: +33.8% Mains Brands¹ Camil Historical Annual Volume (k ton) Camil’s Gross Price vs Market Prices (R$/kg) Camil Historical Quarterly Volume (k ton) • Canned Fish: Coqueiro. #2 player, with 40% market share in sardines and 23% in Tuna • Pasta: Santa Amalia. #1 player in pasta in Minas Gerais region, with a 41% market share (#4 player in Brazil) • Coffee: União. Launch in April/2022, 5% market share in São Paulo/Rio de Janeiro region. • Cookies and Biscuits: Mabel for biscuits and Toddy for cookies. Acquisition in November/2022, high growth rate in operation since the conclusion Active price dynamics, with different strategies by category Historical quarterly sales seasonality impacted by the canned fish; and growth in 2021-2022 impacted by the acquisitions (pasta, coffee, biscuits) Notes: (1) Euromonitor; Nielsen Retail Index for Sardine and Tuna (INA+C&C); Nielsen INA+CC volumes in April/2020 for pasta; Nielsen Scantrack AS+C&C 20-26 Fev/23 & IPSOS Grande São Paulo + Rio de Janeiro Capital – Nov/22 for coffee; (2) CEPEA; Esalq/Senar - Wheat indicator; CEPEA Esalq - Arabica Coffee Indicator; the chart considers the market prices of wheat from 3Q21 and coffee from 2Q22, when the company entered those segments. 2
- 50.000 100.000 150.000 200.000 250.000 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 19 International Food Segment Leading positions in LatAm with well-recognized brands in Uruguay, Chile, Peru and Ecuador Countries of Operation Camil Historical Annual Volume (k ton) Camil Gross Prices (R$/kg) Camil Historical Quarterly Volume (k ton) 534 586 706 732 630 634 678 627 703 (100.000) 100.000 300.000 500.000 700.000 900.000 1.100.000 2014 2015 2016 2017 2018 2019 2020 2021 2022 0,00 1,00 2,00 3,00 4,00 5,00 6,00 7,00 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 +90% of international operations focused on rice CAGR 14-22’: +3% 1st Saman: 48% Mkt. Share 1st Tucapel: 33% Mkt. Share Costeño: 37% Mkt. Share 1st Rico Arroz: Leader in aged rice with 20% Mkt. Share 1 Notes: (1) Market share information: Uruguay: market share Consecha Comision Sectorial del Arroz; Chile: Nielsen Scantrack Chile; Peru: Kantar Worldpanel Peru;
Brazil – RICE1,2 #1 14% #2 Player 2 6% #3 Player 3 3% Consolidation of the brazilian grains market coupled with new categories and geographical expansion in LatAm Acquisitions and Tangible Growth Opportunities Notes: (1) Market shares referring to total Camil Company brands; (2) Nielsen Retail Index for Rice (INA+C&C); (3) Nielsen Scantrack Index for Beans (AS+C&C ) Consolidation: Grains in Brazil New Categories and New Products New Geographies: LatAm Brazil – BEANS1,2 #1 Player 1 14% #2 9% #3 Player 3 3% Rice Beans 1st 2nd Camil's wide distribution network enables synergies in new categories in Brazil New geographies and new categories in LatAm Chile Ready for new categories Regions with focus on expansion New markets IV III II I V 42% 20% 3% 14% 18% 11% 6% 19% 22% 16% VII 3% 12% VI 6% 13% % rice market share1,2 - Camil % rice consumption by region IV III II I V 22% 6% 1% 2% 13% 15% 11% 14% 24% 17% VII 2% 7 % VI 6% 10% % beans market share1,3 - Camil % beans consumption by region 20 Big growth opportunities in dry goods market in Brazil (logistics, sales and fiscal synergies with current operations) …and new added value products to be developed in actual categories Wheat Business Coffee Santa Amália’s (pasta) leadership in MG and Mabel strong presence in GO: opportunity to grow and integrate other categories in Brazil Uruguay: new business opportunities, as Silcom in Healthy Goods (local market) Chile: ready to integrate new categories Peru: opportunity to grow on packaged rice New Markets: Colombia, Argentina, Mexico
Section lll Capital Markets Transactions
1998 - 2006 2011 - 2016 Private Equity Private Equity History 1998 – 1st Private Equity: TCW (acquisition of cooperative’s part. 50%) 2006 – TCW divestment 2011 – Gávea’s investment (31.75%) 2016 – Gávea’s divestment and Warburg Pincus investment (same PM) 2017 – IPO and Warburg Pincus partial divestment (23% sale, remaining a 9% stake) 2019 – Warburg Pincus total divestment (Partially via Camil Repurchase Program) 22 1998 - 2010 2011 - 2016 2017 - 2022 Acquisitions 2001 – SAMAN Brazil in Pernambuco 2002 – Camaquã Plant (Brazil) 2007 – Saman (Uruguay) 2009 – Tucapel (Chile) 2010 - BB Mendes (Brazil) 2011 – Pescador and Coqueiro brands (Canned Fish – Brazil) 2011 – Costeño (Peru) 2012 – União and Da Barra brands (Sugar - Brazil) 2013 – Carreteiro (Brazil) 2013 – La Loma (Argentina) 2014 – Paisana (Peru) 2018 – SLC Alimentos (Brazil) 2018 – Sale of La Loma (Argentina) 2019 - Warburg Pincus divestment (Buyback) 2021 – International: Acquisition in Ecuador (Dajahu) and Silcom (Uruguay) 2021 – Brazil: Acquisition of pasta business in Brazil (Santa Amalia), coffee brands and coffee operation in Brazil (Seleto and Café Bom Dia + launch of União) 2022 – Brazil: Acquisition of Mabel and licensing of Toddy Cookies M&A (sold in 2018) (Ecuador) (Pasta- Brazil) (Coffee- Brazil) Solid Track Record of Successful Transactions Camil’s M&A history reflects its ability to find and deliver new opportunities and synergies (Grains- Brazil) (Uruguay) 2017 (Cookies - Brazil)
23 Recent Transactions 2021-2022 | Summary Acquisitions in line with the Company's expansion strategy and an important step forward in new markets Brands Notes: (1) Considering FX at the time of the announcement 2021 2022 Acquisitions Total Amount & Closing Date Investments Thesis Acquisition Silcom (Uruguay) Dejahu (Ecuador) Santa Amália (Brazil) Seleto Brand (Brazil) Café Bom Dia (Brazil) Mabel (Brazil) • Healthy products • Expansion in the local market (Uruguay) • Entry into the Pasta segment in Brazil; • Leadership in MG region • Entry into the Ecuadorian Market • Leadership position • Brand acquisition to support Camil’s launch in the Coffee Segment • Investment in Café Bom Dia brand and its operations in Minas Gerais • Mabel Acquisition and licensing of Toddy brand for Cookies. Not Disclosed (mar/22) R$220 million (sep/21) R$410 million (oct/21) Not Disclosed (oct/21) 63 million (dec/21) R$177 million (nov/22)
8 Buyback Programs Substantial Growth in Number of Investors to 40k on Aug.23 from 2.0k Investors on Nov.17 24 2017: Camil’s IPO Camil successfully completed its Initial Public Offering on September 2017 Shareholder Structure Corporate Governance Shareholder’s Profile Camil is listed on B3’s Novo Mercado segment, the highest level of corporate governance Investors Breakdown # of Investors# ON (mn) % ON Controlling holders & Related Parties 5 249 71% Institutional 133 79 23% Retail/Ind. Holders 39.598 28 8% Total 39.736 350 100% 51% 49% % number of investors Aug, 2023 Camil Investimentos¹ Free Float 65.7% 5.6% Management and Related Parties 27.4% Treasury Shares 1.3% Notes: 1) Camil Investimentos represents Quartiero’s family ownership (does not include individual ownership, included on Management and Related Parties) Share Buyback +66 million ON shares acquired and +R$512 million Invested in share buyback +50 million ON shares canceled 350¹ million ON IPO - 2017 Aug - 2023 -15% 410 million ON (8th Ongoing) • Common voting shares only • 100% Tag along • 50% of independent Board Members • Minimum Free Float of 25% • OPA by fair value • Minimum dividend/JCP of 25% of the net profit (in compliance with Law No 6.404) • Board: 9 members, 66% independent (2 women - certified by WOB - Women on Board) 350mn shares Aug, 2023 Aug, 2023
571 1.032 1.033 1.080 1.634 2.743 1,2 x 2,1 x 2,3 x 1,4 x 2,0 x 3,0 x 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22 Net Debt Net Debt /EBITDA LTM Covenant: 3,5x 25 Debt Issuances Emissions 8th Debenture (CRA) 9th Debenture 10th Debenture 11th Debenture 12th Debenture (CRA) Emission Date Apr/2019 Sep/2020 May/2021 Nov/2021 June/2023 Emission 8th Deb. Issuance/CRA 9th Deb. Issuance 10th Deb. Issuance 11th Deb. Issuance 12th Deb. Issuance/CRA Securitization Company Eco Securitizadora - - - Eco Securitizadora Total Amount R$600 million R$350 million R$600 million R$650 million R$625 million Cost / serie 1st: 98% CDI p.a. 2nd: 101% CDI p.a. Single: CDI +2.7% p.a. Single: CDI +1.7% p.a. 1st : CDI+1.55% p.a. 2nd :CDI+1.55% p.a. Single: CDI+0,9% p.a. Amortization Bullet - Series: 1st: 4 years (Apr/23) - settled 2nd: 6 years (Apr/25) 2 amortizations on 4th year and 5th year Bullet 3 years (May/2024) 2 amortizations and 7-year maturity Bullet 2.5 year (Dec/2025) Interest Semester Semester Semester Semester Semester Financial Covenant Net Debt/EBITDA LTM <3.5x Net Debt/EBITDA LTM <3.5x (up to 4.0x after the 8th Deb. Maturity) Net Debt/EBITDA LTM <3.5x (up to 4.0x after the 8th Deb. Maturity) Net Debt/EBITDA LTM <3.5x (up to 4.0x after the 8th Deb. Maturity) Net Debt/EBITDA LTM <3.5x (up to 4.0x after the 8th Deb. Maturity) Liability Management on amortization profile schedule National: BrAAA (negative) Global: BB- (stable) Agribusiness Receivables Certificate (CRA) Debt Evolution Rating Amortization Schedule 1.768 805 1.647 150 383 328 R$ R$200 R$400 R$600 R$800 R$1.000 R$1.200 R$1.400 R$1.600 R$1.800 R$2.000 aug/24 aug/25 aug/26 aug/27 aug/28 After Aug/29
Section IV ESG
Governance: Statutory Directors, Councils and Committees Jairo Quartiero (Chairman) Rodrigo Colmonero (Partner – NEO Investimentos CEO & Founder - Gringo) Thiago Quartiero Jacques Quartiero José Fay (Former Board Member at J.Macedo & former CEO of BRF) Carlos Júlio (Former-CEO of Tecnisa and HSM of Brasil) Founding Family Independent Members Camil is listed in Novo Mercado, B3’s highest standard of Corporate Governance  2-year term, re-election allowed Current terms end in June/2024 9 members, 66% independent members (2 women) Certified by the presence of at least two women on the board by WOB Fiscal Council Formed by 6 members, 3 effective and 3 alternates  1Y Term (June/2024) Audit Committee Formed by 3 effective members 2Y Term (June/2024) Finance, Investments and Risk Committee Formed by 3 effective members 2Y Term (June/2024) Strategy, Innovation, Brands and Market Committee Formed by 5 effective members 2Y Term (June/2024) Personnel Management Committee  Formed by 4 effective members 2Y Term (June/2024) ESG and Ethics Committee Formed by 3 effective members 2Y Term (June/2024) Piero Minardi (Warburg Pincus) Sandra Montes (Former CMO at Rappi, OLX and Electrolux) Cláudia Soares (Former Board Member at Arezzo &Co, Totvs, IBGC, Roldão) Luciano Quartiero CEO Flavio Vargas, CFA CFO and IR Director 31 31 Experience Education 6 27 Experience Education Statutory Directors 2 C-level statutory directors  2Y Term (June/2024) Years of Experience in Camil Years of Experience in the market Councils and Committees Board of Directors
Recipe: Commitment to mitigate E&S risks the Company’s business and strategy Preparation Method: governance that encourages the creation of ESG practices throughout the organization Ingredients: Integration of ESG through Working Groups, nurturing Camil's ESG commitment ESG commitment: 1Y goals linked to all directors variable compensation ESG and Ethics Committee Internal ESG Committee Working Groups 1Y ESG Goals Integration of best practices into the business management and development strategy, focused in sustainable growth ESG Governance 28 Created in January 2021 Support the Board of Directors on social, environmental, integrity and Governance matters Formed by 3 members (1 independent member) Strategic planning also includes ESG practices Variable remuneration of all directors linked to ESG goals (1Y) ESG Goals linked to Camil’s Strategy and Growth Opportunities Support to ESG and Ethics Committee Formed by 4 directors, for monitoring the working groups to implement goals and adherent practices 8 Working groups in ESG (material themes) Multidisciplinary teams (+80 people), distributed in the 5 countries where Camil operates Quarterly meetings to evaluate and improve ESG themes
Sustainable Culture Variable compensation of all directors linked to ESG goals +80 people in the ESG Brazil, Uruguay, Chile, Peru and Ecuador WGs, with initiatives linked to material topics and monitored by the ESG and Ethics Committee 66% independent members on the Board of Directors Ethics & Integrity Integrity Program and new training reaching +98% of the Company's target audience LatAm Integrated Risk Management Employee Health, Safety and Development +50% of plants in Brazil with zero lost-time accidents Training School project in the Itaqui community in professional courses Purpose and People Quality and Sales All ESG actions aligned with Camil’s Strategic Plan Eficiency and Growth UN Global Compact signatory Women on Board Ecoefficiency 100% of Brazil units operating with renewable energy +40% of consumed energy generated by Camil, through the consumption of 97k ton of rice husk  New Termo Project: consumption of up to 100% of the husk generated in Cambaí/Itaqui (RS) for energy Annual inventory of GHG emissions and Score C at CDP (Climate Change; Water Security) Supply Collecting Social, Environmental and Ethical Responsibility Statement from critical suppliers in the new categories Workshops for suppliers on best ESG practices Social Investment Confectionery and Business School Doce Futuro União 2.0, with more than 600 graduates New partnerships, with +50k families and +79 tons of donations To learn more about our sustainable initiatives, check our sustainability report with our performance and progress on environmental, ethics and community on LatAm. ESG Highlights 29
Appendix Selected Comparable Companies
Ratings (Fitch/Moody's/S&P) NA/NA/BB- BB/NA/BB BB/Ba3/BB-BB-/Baa3/BBB- BB+/NA/BB+ NA/NA/NA BB+/Baa1/BBB+ BBB+/WR/BBB NA/NA/NA Ticker B3: CAML3 B3:BEEF3 B3: BRFS3 B3: JBSS3 B3: MRFG3 B3: MDIA3 BMV: BIMBOABMV: GRUMAB BMV: HERDEZ Market Capitalization 2.660 6.686 16.640 43.009 5.214 14.628 394.075 109.042 16.411 EV/EBITDA 7,95 5,11 9,41 4,00 4,48 15,38 6,23 8,11 6,87 LTM Period Feb-23 Dec-22 Dec-22 Dec-22 Dec-22 Dec-22 Dec-22 Dec-22 Dec-22 Financials: Net Revenues 10.205 30.978 53.805 374.852 130.632 10.129 398.706 5.597 31.646 EBITDA 920 2.838 2.854 34.430 15.292 900 71.978 807 4.943 EBITDA Margin 9,0% 9,2% 5,3% 9,2% 11,7% 8,9% 18,1% 14,4% 15,6% Net Interest Expenses (291) 1.036 1.606 5.543 3.202 (56) 7.561 94 819 Operating Cash Flow (139) 3.135 1.876 13.348 9.335 107 34.138 229 4.262 CAPEX (ex-M&A) (224) (835) (3.305) (7.888) (3.584) (312) (32.452) (288) (1.052) Balance Sheet: Cash & Equivalents 1.239 3.932 8.466 8.965 5.775 774 1.519 254 2.398 Total Debt 3.982 14.874 23.909 131.639 69.306 2.482 133.201 1.889 10.384 Net Debt 2.743 6.733 17.606 87.477 41.877 1.892 100.926 1.692 8.867 Net Debt/EBITDA 3,0 2,9 5,6 3,5 3,1 2,0 1,8 2,1 1,7 Net Debt/(EBITDA-CAPEX) 3,9 3,4 (39,1) 3,3 3,6 3,2 2,6 3,3 2,3 EBITDA/Net Interest Expenses 3,2 2,7 1,8 6,2 4,8 (16,1) 9,5 8,5 6,0 Note: camil – company fillings; other companies BBG (in local currency); (Figures in R$mm1) 31 Selected Comparable Companies Brazil LatAm (ex-Brazil) We believe that our position with a broad portfolio of leading brands in several segments leads Camil to a different position in LatAm food sector. Camil has a unique position to continue to strengthen its competitive advantages in the region
Investor Relations ri@camil.com.br

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Camil Institutional Presentation_Nov23.pdf

  • 1.
  • 2.
    Financial data ispresented in accordance with the International Financial Reporting Standards and represents the Company's consolidated results in millions of reais (R$), unless otherwise indicated. The Company's fiscal year begins in March and ends in February of the following year (inclusive). The results presented here include recent transaction data as of their conclusion, except when specified. This presentation may contain forward-looking statements that are inherently difficult to predict. Actual results could differ materially for a variety of reasons. Forward-looking statements speak only as of the date they are made, and the Company does not assume any obligation to update them in light of new information or future developments. This material is published solely for informational purposes and should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Likewise, it does not provide, and should not be treated as providing, investment advice. It has no regard for the specific investment objectives, financial situation, or particular needs of any recipient. No representation or warranty, either express or implied, is provided regarding the accuracy, completeness, or reliability of the information contained herein. Recipients should not consider it a substitute for the exercise of their own judgment. This presentation contains summarized information that should not be considered complete. Certain percentages and other amounts included in this document have been rounded to facilitate its presentation. Therefore, numbers presented as totals in some tables may not represent the arithmetic sum of the numbers that precede them and may differ from those presented in the financial statements. Operational data is not audited, as it consists of measures that are not recognized by IFRS or other accounting standards. Neither this presentation nor anything contained herein should create the basis for any contract or commitment. All information contained here is subject to adjustments and revisions without notice. By creating this presentation, neither the Company nor any of its affiliated companies, directors, executives, or employees assume any obligation to provide the receiver access to any additional information, update this presentation or any information, or correct any inaccuracy in any of this information. This presentation does not contain all the relevant information about the Company. Disclaimer 2
  • 3.
    I. Camil AlimentosS.A. II. Categories Overview III. Capital Markets & Transactions IV. ESG Appendix A. Selected Comparable Companies Table of Contents 3
  • 4.
  • 5.
    Camil: One ofthe Largest Food Companies in LatAm 5 One of the Leading Companies in LatAm Leadershipin BrazilandLatAm across differentbusinesssegments Unique Expertise of the Brazilian Market Unmatchedexperiencein Braziland provenabilityto growth intonew markets Strong ESG Standards Best-in-classcorporategovernancecoupledwith a strongenvironmental& socialagenda Solid Business Model with Resilient Margins Weeklyprice transferandabilityto maintainprofitabilityinadverse scenarios Broad Product Offering Widerange of productsaddressing differentvaluepropositionsto clients Tangible Growth Avenues Naturalmarketconsolidatorin Brazil, alreadytested intopractice (R$mn) Net Revenues by Segment Strong Positioning Strongcashpositionandinvestment gradedebt profile Notes: Company fiscal year begins in March and ends in February of the following year (inclusive)
  • 6.
    60% 7% 32% (%) Volume 52% 19% 29% (%) NetRevenue Camil At-a-Glance Founded in 1963, Camil is a strong food platform for dry goods and recognized brands throughout LatAm  One of the largest food companies in LatAm  Business model includes industrialization, commercialization and distribution of grains, sugar, pasta, canned fish, coffee, biscuits/cookies and other dry goods  Well-known and recognized brands in Brazil, Uruguay, Chile, Peru and Ecuador  Exports to more than 60 countries Processing and Distribution Platform Representativeness by Segment Camil: One of the Largest Food Companies in LatAm High Turnover includes rice, beans and sugar categories High Growth includes fish, pasta, coffee and biscuits categories International includes Uruguay, Chile, Peru and Ecuador operations Uruguay Chile Peru Brazil Ecuador 35 processing facilities 23 distribution centers distributed throughout LatAm Operations in 5 countries and multiple categories in Brazil 8k employees Grains Processing Facilities: 29 - 12 in Brazil - 17 International Fish Processing Facilities: 1 Sugar Packaging Facilities: 1 Pasta Processing Facilities: 1 Coffee Processing Facilities: 1 Cookies Processing Facilities: 2 Distribution Centers: 23 Camil’s Facilities 6 Main Brands Sugar Fish Pasta Coffee Iconic brand recognition in all categories and countries Cookies Grains and Dry Goods 2Q23
  • 7.
    60’s: Foundation 80’s:Professionalization and Organic Expansion 2000’s: Acquisitions / International Expansion 2017-2022: IPO + Recent Transactions Over the past 60 years, Camil has expanded its portfolio of brands in LatAm, proven its capacity of successfully identifying, acquiring and integrating strategic acquisitions Unique Expertise in the LatAm Market Foundation, in the city of Itaqui-RS Pioneer in distributing packaged rice (migration from rice in bulk) Inauguration of the distribution center in SP Beans commercialization Acquisition of SAMAN Brazil in Pernambuco Logistics expansion: new subsidiaries in North and Northeast regions Acquisition of Saman in Uruguay Acquisition of Rio Grande plant (Brazil) Acquisition of Tucapel (Chile) Acquisition of SLC Alimentos Sale of La Loma (Argentina) Acquisition of Bom Maranhense (Brazil) Camil’s IPO (B3) Acquisition of canned fish (Brazil) and Costeño (Peru) Acquisition of sugar category (Brazil) Acquisition of Carreteiro (Brazil) and La Loma (Argentina) Warburg Pincus divestment (Buyback) 2001 2002 2005 2007 2008 2009 2022 1963 1987 2014 2017 2018 2019 2021 2010 2011 2012 2013 1974 1975 Acquisition of Camaquã plant in Rio Grande do Sul Acquisition of Paisana (Peru) •Santa Amália (Brazil - Pasta) •Seleto brand (Brazil - Coffee) •Café Bom Dia (Brazil - Coffee) •Dajahu (Equador) •Silcom S.A. (Uruguai) Launch: Coffee business (União brand) 7 •Mabel & Toddy – biscuits and Cookies
  • 8.
    Unique Positioning withinthe Production Chain Camil is not engaged in any step of the agriculture process Main Brand Agriculture Origination Processing Packaging Distribution Marketing Pricing and Purchasing Strategy Grains and dry goods Sugar Fish Pasta  Purchases at spot prices  Weekly cost transfer capability  Company offers storage to the producers  Advance to producers: partial inventories guarantee  Price paid to producers based on Saman’s sale price - regulated price system in Uruguay  Stable margins and no FX risk (despite the export-oriented business)  Local purchases at market price (~50%)  Also imports rice from Saman (intercompany)  Most part of its rice imported from Saman (intercompany)  Long term supply contract with Raízen: guaranteed volume  Contract pricing based on international sugar prices (NY #11)  Weekly cost transfer capability  Local acquisitions at market prices, complemented by import contracts  Concentrated industry favors price discipline (2 players with ~90% market share) Coffee  Local weekly purchases at market price  >130 suppliers located close to the plant  Local acquisitions at market prices  Purchasing strategy follows the industry (3-4 month position)  Different cost transfer dynamics  Local acquisitions at market prices: suppliers located close to the plant  Different cost transfer dynamics (1- 2 months) 8 Cookies  Local acquisitions at market prices  Purchasing strategy follows the industry  Different cost transfer dynamics
  • 9.
    9,1% 5,9% 10,9% 6,7% 8,4% 4,3% 2,2% -4,3% -6,3% 2,0% 2,3% 1,3% 1,2% 1,4% 1,0% 5,1% -0,1% 7,5% 3,9% 1,9% 3,0% 0,1% -3,8%-3,6% 1,0% 1,1% 1,1% -4,1% 4,6% 2,9% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Retail Sales Total GDP For over 15 years, Camil has posted solid operational and profitable results, even with a slowdown in the Brazilian economy 9 Solid Business Model with Stable and Resilient Margins Notes: Company fiscal year begins in March and ends in February of the following year (inclusive); (1) BCB, Focus Volume and Growth (mn ton, %) EBITDA, Gross Margin and EBITDA Margin (R$mn, %) Net Revenues by Segment (R$mn) Camil continue to grow in volumes and revenues, despite years in Brazil with a GDP decrease Brazil: GDP and Retail Sales¹ (% growth, real terms) CAGR2008A-2022 12.0% CAGR2008A-2022 13.6% CAGR2008A-2022 11,0%
  • 10.
    Adjusted selling price(1) (CIF - R$/30kg) Notes: (1) Adjusted by the monthly inflation of the period, since Jan/2006 (Gross margin) Average sale price (R$/30kg)2 Average cost (R$/30kg)2 Sale / Cost Year Subtitle Average purchase price (CIF - R$/30kg) Gross margin (% net revenue) Average selling price (CIF - R$/30kg) Historically Camil has maintained resilient margins, mainly due to its weekly pricing capacity Business Model: Proven Cost Transfer Capability (rice case) Solid Business Model with Stable and Resilient Margins Brazil: Rice Case (Price: CIF – R$/30kg) 10 2006 39.40 22.69 1.74 2007 41.98 24.80 1.69 2008 53.90 34.18 1.58 2009 51.05 30.76 1.66 2010 50.54 28.63 1.77 2011 45.51 25.11 1.81 2012 55.82 34.41 1.62 2013 59.20 35.52 1.67 2014 63.49 36.50 1.74 2015 67.32 37.51 1.79 2016 80.46 47.16 1.71 2017 74.03 39.70 1.86 2018 75.89 41.60 1.82 2019 77.58 46.57 1.67 2020 118.01 80.23 1.47 2021 115.53 76.58 1.51 2022 123.87 80.84 1.53
  • 11.
    Coffee Sugar Grains - Brazil International Grains - Brazil Fish Pasta Cookies & Biscuits 11 HIGH TURNOVER HIGHGROWTH Products and Brand Awareness PORTFOLIO AND NEW CATEGORIES 2021-2022 +4 CATEGORIES & +1 COUNTRY Pastas, Biscuits & Coffee (Brazil) Health Products (Uruguay) Rice (Ecuador)
  • 12.
    High Added Value Premium Upper Mainstream Mainstream Other Brands VALUE VOLUME 12 CommercialStrategy by Product Value • Commercial Execution focused on Upper mainstream to high added value portfolio Wide range of products addressing different value propositions to clients and consumers Portfolio: recognized brands and high added value items
  • 13.
    Main Competitor Unique Footprint Points of sale reaching a big part of the population in Brazil – specially in SP  Wide presence across all States of Brazil Pricing Power  "Brand of sugar": higher prices compared to the main competitors Market Leadership  Absolute Leadership with 82% of Top-of-Mind¹  Total Company refined sugar brands have ~40%² market share Market Share 13  115 100 Sugar price³ 1º +5% 105 100 Camil Others Rice Strategy  Replicating the sugar model from commodity to brand  Focus on branding and premium price strategy Rice price³ Others Iconic Brand Recognition and Premium Prices Sugar Successful Case from Commodity to Brand +15% 40% União: Brand of strong emotional bond, preferred by consumers and with greater perception of value Notes: (1) Top of Mind Camil Ipsos; (2) Nielsen Retail Index for Sugar (INA+C&C for 1kg – represents ~90% of refined market); (3) Price Index Nielsen (launch in 1S22) Coffee   
  • 14.
    86 vs. 47(3º) Brand Awareness Complementary product portfolio composed of strong and most recognized brands by consumers M A I N B R A N D S - B r a z i l I N T E R N AT I O N A L B R A N D S BHT - Brand Health Tracking¹ Bought the Product before Recognition 98 vs. 75 (3º) 78 vs. 52 (2º) 74 vs. 9 (2º) 95 vs. 60 (2º) 99 vs. 90 (2º) Sardines Tuna 95 vs. 78 (2º) 98 vs. 96 (2º) 75 vs. 88 (1º) 93 vs. 99 (1º) December, 2021 Brazil 1st 1st 1st Market Share² 14% 1) BHT - from 0 to 100: grains: 300 people in São Paulo – SP; Sugar: 200 people in SP and RJ; 200 people Sardines: Pernambuco Tuna: Sâo Paulo – SP; Consider a NPS from 0 to 100 of consumers who contacted us on one of our channels: 0800, Fale Conosco, Reclame Aqui, Redes Sociais, Consumidor.gov.; 2) Nielsen Retail Index for Rice (INA+C&C); Nielsen Scantrack Index for Beans (AS+C&C); Nielsen Retail Index for Sugar (INA+C&C 1kg – represents ~90% of refined market); Nielsen Retail Index for Sardine and Tuna (INA+C&C); Nielsen Index for Pasta (INA+C&C); Uruguay: Consecha Comision Sectorial del Arroz; Chile: Nielsen Scantrack; Peru: Kantar Worldpanel. 14 Brand Recognition •Folha de São Paulo Top of Mind Award União won as the most remembered brand in the Southeast region •Folha de São Paulo Top of Mind Award Camil 1st - Beans; União 1st - Sugar 20% (aged rice) 9% 40% 40% 1st 2nd 1st 2nd 2nd 23% 4th 7% Brazil; 41% MG 48% 33% 37% 1st 2nd 1nd •União: registered as Alto Renome (highly renowned) brand 2% Brazil; 5% GSP/GRJ 1st 2st Rice Sugar Beans 1st Rice Beans Sugar Sardine Tuna Pasta Coffee
  • 15.
    30% 51% 11% 8% Distributors Wholesale Retailers Industry 62% 21% 5% 12%Retailers Distributors & Wholesale Industry Small Retails Own Sales Force Wholesale Retailers Key Accounts Outsourced Sales Force Distributor # Indicates the representativen ess of direct points of sale by region in Brazil 23% 9% 44% 24% % Sales (ton) 15 Wholesale Stores / Retailers Brazil Key Accounts A LatAm successful case of a strong distribution network favoring the business expansion to new segments Wide Distribution Network Equador Uruguay 91% of sales made by the company’s own sales force and 9% from distributors (canned fish) 38% 22% 32% 9% Brazil Chile Brazil: % Sales (ton) Peru 26% 74% National International 7% 30% 58% 5% Small Retailers Wholesale Key Accounts Distribution
  • 16.
  • 17.
    - 50,0 100,0 150,0 200,0 250,0 300,0 350,0 400,0 - 0,5 1,0 1,5 2,0 2,5 3,0 3,5 4,0 4,5 5,0 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 Camil's Gross PriceRice - Mkt. Price Beans - Mkt. Price Sugar - Mkt. Price - 50.000 100.000 150.000 200.000 250.000 300.000 350.000 400.000 450.000 1Q07 3Q07 1Q08 3Q08 1Q09 3Q09 1Q10 3Q10 1Q11 3Q11 1Q12 3Q12 1Q13 3Q13 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 457 454 473 505 560 817 1267 1196 1169 1229 1210 1236 1351 1401 1478 1335 - 200.000 400.000 600.000 800.000 1.000.000 1.200.000 1.400.000 1.600.000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 17 Brazil Food Segment | High Turnover High turnover: Grains and Sugar in Brazil Substantial Historical Growth in a Fragmented Industry - Consolidation Opportunity CAGR 07-22: +6.9% Through Organic and Inorganic Growth, Camil is an Undisputed Market Leader in Rice, Beans and Sugar in Brazil Main Brands¹ Camil Historical Annual Volume (k ton) Camil’s Gross Price vs. Market Prices (R$/kg) Camil Historical Quarterly Volume (k ton) • Camil - Rice: #1 Rice Brand in Brazil, with 14% market share • Camil - Beans: #2 Beans Brand in Brazil, with 9% market share • União - Sugar: #1 Refined Sugar Brand in Brazil, with 40% market share and a 15% premium prices • Other brands: +10 value priced brands to meet the demand of consumers seeking for lower prices and regional brands High turnover: weekly cost transfer capability Mkt. Prices Camil’s Gross Price Notes: (1) Nielsen Retail Index for Rice (INA+C&C); Nielsen Scantrack Index for Beans (AS+C&C); Nielsen Retail Index for Sugar (INA+C&C 1kg – represents ~90% of refined market). (2) CEPEA; rice indicator Esalq/Senar-RS 50kg; Agrolink; beans indicator Sc 60kg; CEPEA; Cristal Sugar indicator Esalq-SP 50kg. 2
  • 18.
    0 500 1000 1500 2000 - 5,00 10,00 15,00 20,00 25,00 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 High Growth GrossPrice Wheat - Mkt. Price Coffee - Mkt. Price - 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000 45.000 50.000 3Q11 1Q12 3Q12 1Q13 3Q13 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 4 34 33 32 37 40 36 35 39 37 60 140 - 20.000 40.000 60.000 80.000 100.000 120.000 140.000 160.000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 18 Brazil Food Segment | High Growth High Growth: canned fish, pasta, biscuits/cookies and coffee in Brazil High Growth Opportunity with well-recognized brands and a portfolio with value added categories in Brazil CAGR 11-22’: +33.8% Mains Brands¹ Camil Historical Annual Volume (k ton) Camil’s Gross Price vs Market Prices (R$/kg) Camil Historical Quarterly Volume (k ton) • Canned Fish: Coqueiro. #2 player, with 40% market share in sardines and 23% in Tuna • Pasta: Santa Amalia. #1 player in pasta in Minas Gerais region, with a 41% market share (#4 player in Brazil) • Coffee: União. Launch in April/2022, 5% market share in São Paulo/Rio de Janeiro region. • Cookies and Biscuits: Mabel for biscuits and Toddy for cookies. Acquisition in November/2022, high growth rate in operation since the conclusion Active price dynamics, with different strategies by category Historical quarterly sales seasonality impacted by the canned fish; and growth in 2021-2022 impacted by the acquisitions (pasta, coffee, biscuits) Notes: (1) Euromonitor; Nielsen Retail Index for Sardine and Tuna (INA+C&C); Nielsen INA+CC volumes in April/2020 for pasta; Nielsen Scantrack AS+C&C 20-26 Fev/23 & IPSOS Grande São Paulo + Rio de Janeiro Capital – Nov/22 for coffee; (2) CEPEA; Esalq/Senar - Wheat indicator; CEPEA Esalq - Arabica Coffee Indicator; the chart considers the market prices of wheat from 3Q21 and coffee from 2Q22, when the company entered those segments. 2
  • 19.
    - 50.000 100.000 150.000 200.000 250.000 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 19 International Food Segment Leadingpositions in LatAm with well-recognized brands in Uruguay, Chile, Peru and Ecuador Countries of Operation Camil Historical Annual Volume (k ton) Camil Gross Prices (R$/kg) Camil Historical Quarterly Volume (k ton) 534 586 706 732 630 634 678 627 703 (100.000) 100.000 300.000 500.000 700.000 900.000 1.100.000 2014 2015 2016 2017 2018 2019 2020 2021 2022 0,00 1,00 2,00 3,00 4,00 5,00 6,00 7,00 1Q14 3Q14 1Q15 3Q15 1Q16 3Q16 1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 +90% of international operations focused on rice CAGR 14-22’: +3% 1st Saman: 48% Mkt. Share 1st Tucapel: 33% Mkt. Share Costeño: 37% Mkt. Share 1st Rico Arroz: Leader in aged rice with 20% Mkt. Share 1 Notes: (1) Market share information: Uruguay: market share Consecha Comision Sectorial del Arroz; Chile: Nielsen Scantrack Chile; Peru: Kantar Worldpanel Peru;
  • 20.
    Brazil – RICE1,2 #114% #2 Player 2 6% #3 Player 3 3% Consolidation of the brazilian grains market coupled with new categories and geographical expansion in LatAm Acquisitions and Tangible Growth Opportunities Notes: (1) Market shares referring to total Camil Company brands; (2) Nielsen Retail Index for Rice (INA+C&C); (3) Nielsen Scantrack Index for Beans (AS+C&C ) Consolidation: Grains in Brazil New Categories and New Products New Geographies: LatAm Brazil – BEANS1,2 #1 Player 1 14% #2 9% #3 Player 3 3% Rice Beans 1st 2nd Camil's wide distribution network enables synergies in new categories in Brazil New geographies and new categories in LatAm Chile Ready for new categories Regions with focus on expansion New markets IV III II I V 42% 20% 3% 14% 18% 11% 6% 19% 22% 16% VII 3% 12% VI 6% 13% % rice market share1,2 - Camil % rice consumption by region IV III II I V 22% 6% 1% 2% 13% 15% 11% 14% 24% 17% VII 2% 7 % VI 6% 10% % beans market share1,3 - Camil % beans consumption by region 20 Big growth opportunities in dry goods market in Brazil (logistics, sales and fiscal synergies with current operations) …and new added value products to be developed in actual categories Wheat Business Coffee Santa Amália’s (pasta) leadership in MG and Mabel strong presence in GO: opportunity to grow and integrate other categories in Brazil Uruguay: new business opportunities, as Silcom in Healthy Goods (local market) Chile: ready to integrate new categories Peru: opportunity to grow on packaged rice New Markets: Colombia, Argentina, Mexico
  • 21.
  • 22.
    1998 - 20062011 - 2016 Private Equity Private Equity History 1998 – 1st Private Equity: TCW (acquisition of cooperative’s part. 50%) 2006 – TCW divestment 2011 – Gávea’s investment (31.75%) 2016 – Gávea’s divestment and Warburg Pincus investment (same PM) 2017 – IPO and Warburg Pincus partial divestment (23% sale, remaining a 9% stake) 2019 – Warburg Pincus total divestment (Partially via Camil Repurchase Program) 22 1998 - 2010 2011 - 2016 2017 - 2022 Acquisitions 2001 – SAMAN Brazil in Pernambuco 2002 – Camaquã Plant (Brazil) 2007 – Saman (Uruguay) 2009 – Tucapel (Chile) 2010 - BB Mendes (Brazil) 2011 – Pescador and Coqueiro brands (Canned Fish – Brazil) 2011 – Costeño (Peru) 2012 – União and Da Barra brands (Sugar - Brazil) 2013 – Carreteiro (Brazil) 2013 – La Loma (Argentina) 2014 – Paisana (Peru) 2018 – SLC Alimentos (Brazil) 2018 – Sale of La Loma (Argentina) 2019 - Warburg Pincus divestment (Buyback) 2021 – International: Acquisition in Ecuador (Dajahu) and Silcom (Uruguay) 2021 – Brazil: Acquisition of pasta business in Brazil (Santa Amalia), coffee brands and coffee operation in Brazil (Seleto and Café Bom Dia + launch of União) 2022 – Brazil: Acquisition of Mabel and licensing of Toddy Cookies M&A (sold in 2018) (Ecuador) (Pasta- Brazil) (Coffee- Brazil) Solid Track Record of Successful Transactions Camil’s M&A history reflects its ability to find and deliver new opportunities and synergies (Grains- Brazil) (Uruguay) 2017 (Cookies - Brazil)
  • 23.
    23 Recent Transactions 2021-2022| Summary Acquisitions in line with the Company's expansion strategy and an important step forward in new markets Brands Notes: (1) Considering FX at the time of the announcement 2021 2022 Acquisitions Total Amount & Closing Date Investments Thesis Acquisition Silcom (Uruguay) Dejahu (Ecuador) Santa Amália (Brazil) Seleto Brand (Brazil) Café Bom Dia (Brazil) Mabel (Brazil) • Healthy products • Expansion in the local market (Uruguay) • Entry into the Pasta segment in Brazil; • Leadership in MG region • Entry into the Ecuadorian Market • Leadership position • Brand acquisition to support Camil’s launch in the Coffee Segment • Investment in Café Bom Dia brand and its operations in Minas Gerais • Mabel Acquisition and licensing of Toddy brand for Cookies. Not Disclosed (mar/22) R$220 million (sep/21) R$410 million (oct/21) Not Disclosed (oct/21) 63 million (dec/21) R$177 million (nov/22)
  • 24.
    8 Buyback Programs SubstantialGrowth in Number of Investors to 40k on Aug.23 from 2.0k Investors on Nov.17 24 2017: Camil’s IPO Camil successfully completed its Initial Public Offering on September 2017 Shareholder Structure Corporate Governance Shareholder’s Profile Camil is listed on B3’s Novo Mercado segment, the highest level of corporate governance Investors Breakdown # of Investors# ON (mn) % ON Controlling holders & Related Parties 5 249 71% Institutional 133 79 23% Retail/Ind. Holders 39.598 28 8% Total 39.736 350 100% 51% 49% % number of investors Aug, 2023 Camil Investimentos¹ Free Float 65.7% 5.6% Management and Related Parties 27.4% Treasury Shares 1.3% Notes: 1) Camil Investimentos represents Quartiero’s family ownership (does not include individual ownership, included on Management and Related Parties) Share Buyback +66 million ON shares acquired and +R$512 million Invested in share buyback +50 million ON shares canceled 350¹ million ON IPO - 2017 Aug - 2023 -15% 410 million ON (8th Ongoing) • Common voting shares only • 100% Tag along • 50% of independent Board Members • Minimum Free Float of 25% • OPA by fair value • Minimum dividend/JCP of 25% of the net profit (in compliance with Law No 6.404) • Board: 9 members, 66% independent (2 women - certified by WOB - Women on Board) 350mn shares Aug, 2023 Aug, 2023
  • 25.
    571 1.032 1.033 1.080 1.634 2.743 1,2x 2,1 x 2,3 x 1,4 x 2,0 x 3,0 x 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22 Net Debt Net Debt /EBITDA LTM Covenant: 3,5x 25 Debt Issuances Emissions 8th Debenture (CRA) 9th Debenture 10th Debenture 11th Debenture 12th Debenture (CRA) Emission Date Apr/2019 Sep/2020 May/2021 Nov/2021 June/2023 Emission 8th Deb. Issuance/CRA 9th Deb. Issuance 10th Deb. Issuance 11th Deb. Issuance 12th Deb. Issuance/CRA Securitization Company Eco Securitizadora - - - Eco Securitizadora Total Amount R$600 million R$350 million R$600 million R$650 million R$625 million Cost / serie 1st: 98% CDI p.a. 2nd: 101% CDI p.a. Single: CDI +2.7% p.a. Single: CDI +1.7% p.a. 1st : CDI+1.55% p.a. 2nd :CDI+1.55% p.a. Single: CDI+0,9% p.a. Amortization Bullet - Series: 1st: 4 years (Apr/23) - settled 2nd: 6 years (Apr/25) 2 amortizations on 4th year and 5th year Bullet 3 years (May/2024) 2 amortizations and 7-year maturity Bullet 2.5 year (Dec/2025) Interest Semester Semester Semester Semester Semester Financial Covenant Net Debt/EBITDA LTM <3.5x Net Debt/EBITDA LTM <3.5x (up to 4.0x after the 8th Deb. Maturity) Net Debt/EBITDA LTM <3.5x (up to 4.0x after the 8th Deb. Maturity) Net Debt/EBITDA LTM <3.5x (up to 4.0x after the 8th Deb. Maturity) Net Debt/EBITDA LTM <3.5x (up to 4.0x after the 8th Deb. Maturity) Liability Management on amortization profile schedule National: BrAAA (negative) Global: BB- (stable) Agribusiness Receivables Certificate (CRA) Debt Evolution Rating Amortization Schedule 1.768 805 1.647 150 383 328 R$ R$200 R$400 R$600 R$800 R$1.000 R$1.200 R$1.400 R$1.600 R$1.800 R$2.000 aug/24 aug/25 aug/26 aug/27 aug/28 After Aug/29
  • 26.
  • 27.
    Governance: Statutory Directors,Councils and Committees Jairo Quartiero (Chairman) Rodrigo Colmonero (Partner – NEO Investimentos CEO & Founder - Gringo) Thiago Quartiero Jacques Quartiero José Fay (Former Board Member at J.Macedo & former CEO of BRF) Carlos Júlio (Former-CEO of Tecnisa and HSM of Brasil) Founding Family Independent Members Camil is listed in Novo Mercado, B3’s highest standard of Corporate Governance  2-year term, re-election allowed Current terms end in June/2024 9 members, 66% independent members (2 women) Certified by the presence of at least two women on the board by WOB Fiscal Council Formed by 6 members, 3 effective and 3 alternates  1Y Term (June/2024) Audit Committee Formed by 3 effective members 2Y Term (June/2024) Finance, Investments and Risk Committee Formed by 3 effective members 2Y Term (June/2024) Strategy, Innovation, Brands and Market Committee Formed by 5 effective members 2Y Term (June/2024) Personnel Management Committee  Formed by 4 effective members 2Y Term (June/2024) ESG and Ethics Committee Formed by 3 effective members 2Y Term (June/2024) Piero Minardi (Warburg Pincus) Sandra Montes (Former CMO at Rappi, OLX and Electrolux) Cláudia Soares (Former Board Member at Arezzo &Co, Totvs, IBGC, Roldão) Luciano Quartiero CEO Flavio Vargas, CFA CFO and IR Director 31 31 Experience Education 6 27 Experience Education Statutory Directors 2 C-level statutory directors  2Y Term (June/2024) Years of Experience in Camil Years of Experience in the market Councils and Committees Board of Directors
  • 28.
    Recipe: Commitment to mitigate E&Srisks the Company’s business and strategy Preparation Method: governance that encourages the creation of ESG practices throughout the organization Ingredients: Integration of ESG through Working Groups, nurturing Camil's ESG commitment ESG commitment: 1Y goals linked to all directors variable compensation ESG and Ethics Committee Internal ESG Committee Working Groups 1Y ESG Goals Integration of best practices into the business management and development strategy, focused in sustainable growth ESG Governance 28 Created in January 2021 Support the Board of Directors on social, environmental, integrity and Governance matters Formed by 3 members (1 independent member) Strategic planning also includes ESG practices Variable remuneration of all directors linked to ESG goals (1Y) ESG Goals linked to Camil’s Strategy and Growth Opportunities Support to ESG and Ethics Committee Formed by 4 directors, for monitoring the working groups to implement goals and adherent practices 8 Working groups in ESG (material themes) Multidisciplinary teams (+80 people), distributed in the 5 countries where Camil operates Quarterly meetings to evaluate and improve ESG themes
  • 29.
    Sustainable Culture Variable compensationof all directors linked to ESG goals +80 people in the ESG Brazil, Uruguay, Chile, Peru and Ecuador WGs, with initiatives linked to material topics and monitored by the ESG and Ethics Committee 66% independent members on the Board of Directors Ethics & Integrity Integrity Program and new training reaching +98% of the Company's target audience LatAm Integrated Risk Management Employee Health, Safety and Development +50% of plants in Brazil with zero lost-time accidents Training School project in the Itaqui community in professional courses Purpose and People Quality and Sales All ESG actions aligned with Camil’s Strategic Plan Eficiency and Growth UN Global Compact signatory Women on Board Ecoefficiency 100% of Brazil units operating with renewable energy +40% of consumed energy generated by Camil, through the consumption of 97k ton of rice husk  New Termo Project: consumption of up to 100% of the husk generated in Cambaí/Itaqui (RS) for energy Annual inventory of GHG emissions and Score C at CDP (Climate Change; Water Security) Supply Collecting Social, Environmental and Ethical Responsibility Statement from critical suppliers in the new categories Workshops for suppliers on best ESG practices Social Investment Confectionery and Business School Doce Futuro União 2.0, with more than 600 graduates New partnerships, with +50k families and +79 tons of donations To learn more about our sustainable initiatives, check our sustainability report with our performance and progress on environmental, ethics and community on LatAm. ESG Highlights 29
  • 30.
  • 31.
    Ratings (Fitch/Moody's/S&P) NA/NA/BB-BB/NA/BB BB/Ba3/BB-BB-/Baa3/BBB- BB+/NA/BB+ NA/NA/NA BB+/Baa1/BBB+ BBB+/WR/BBB NA/NA/NA Ticker B3: CAML3 B3:BEEF3 B3: BRFS3 B3: JBSS3 B3: MRFG3 B3: MDIA3 BMV: BIMBOABMV: GRUMAB BMV: HERDEZ Market Capitalization 2.660 6.686 16.640 43.009 5.214 14.628 394.075 109.042 16.411 EV/EBITDA 7,95 5,11 9,41 4,00 4,48 15,38 6,23 8,11 6,87 LTM Period Feb-23 Dec-22 Dec-22 Dec-22 Dec-22 Dec-22 Dec-22 Dec-22 Dec-22 Financials: Net Revenues 10.205 30.978 53.805 374.852 130.632 10.129 398.706 5.597 31.646 EBITDA 920 2.838 2.854 34.430 15.292 900 71.978 807 4.943 EBITDA Margin 9,0% 9,2% 5,3% 9,2% 11,7% 8,9% 18,1% 14,4% 15,6% Net Interest Expenses (291) 1.036 1.606 5.543 3.202 (56) 7.561 94 819 Operating Cash Flow (139) 3.135 1.876 13.348 9.335 107 34.138 229 4.262 CAPEX (ex-M&A) (224) (835) (3.305) (7.888) (3.584) (312) (32.452) (288) (1.052) Balance Sheet: Cash & Equivalents 1.239 3.932 8.466 8.965 5.775 774 1.519 254 2.398 Total Debt 3.982 14.874 23.909 131.639 69.306 2.482 133.201 1.889 10.384 Net Debt 2.743 6.733 17.606 87.477 41.877 1.892 100.926 1.692 8.867 Net Debt/EBITDA 3,0 2,9 5,6 3,5 3,1 2,0 1,8 2,1 1,7 Net Debt/(EBITDA-CAPEX) 3,9 3,4 (39,1) 3,3 3,6 3,2 2,6 3,3 2,3 EBITDA/Net Interest Expenses 3,2 2,7 1,8 6,2 4,8 (16,1) 9,5 8,5 6,0 Note: camil – company fillings; other companies BBG (in local currency); (Figures in R$mm1) 31 Selected Comparable Companies Brazil LatAm (ex-Brazil) We believe that our position with a broad portfolio of leading brands in several segments leads Camil to a different position in LatAm food sector. Camil has a unique position to continue to strengthen its competitive advantages in the region
  • 32.