Camil Institutional Presentation_May2025
- 2. 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. The results presented here include recent transaction data as of their conclusion, except when specified. This presentation may contain forward-looking statements, which 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 made 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 Alimentos S.A. II. Categories Overview III. Capital Markets & Transactions IV.ESG Table of Contents 3
- 4. Section I Camil Alimentos Overview
- 5. Camil: One of the Largest Food Companies in LatAm 5 W h o W e A r e ? Solid and Stable Financial Performance O u r B u s i n e s s M o d e l One of the Leading Companies in LatAm Leadershipin Braziland LatAm across differentbusinesssegments Unique Expertise of the Brazilian Market Unmatchedexperiencein Braziland provenabilityto grow intonew markets Strong ESG Standards Best-in-classcorporategovernancecoupledwith a strongenvironmental& socialagenda Solid Business Model with Resilient Margins Weeklyprice adjustmentsandabilityto 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 Note: Company fiscal year begins in March and ends in February of the following year (inclusive) 2,601 2,935 3,683 3,331 3,346 3,915 5,354 6,720 7,591 8,392 8,915 1,075 1,294 1,265 1,332 1,403 1,481 2,112 2,296 2,614 2,858 3,348 1,513 1,313 1,407 1,784 2,776 3,582 3,676 4,229 4,948 4,663 4,749 5,396 7,466 9,016 10,205 11,250 12,263 22.9% 22.8% 24.2% 27.1% 24.1% 24.5% 23.2% 24.5% 24.7% 24.7% 25.7% 23.2% 22.2% 19.7% 20.8% 20.2% 19.5% 11.1% 9.4% 10.1% 11.7% 11.3% 10.5% 9.8% 10.0% 11.1% 10.5% 10.2% 8.2% 10.5% 9.0% 9.0% 8.1% 7.4% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
- 6. Camil At-a-Glance Founded in 1963, Camil is a leading food platform for dry goods and recognized brands throughout Latin America (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 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 Main Brands Processing and Distribution Platform Uruguay Chile Peru Brazil Ecuador 33 processing facilities 25 distribution centers distributed throughout LatAm Operations in 5 countries and multiple categories in Brazil 7,3k employees Grains Processing Facilities: 27 - 10 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: 25 Camil’s Facilities 6 Sugar Fish Pasta Coffee Iconic brand recognition in all categories and countries Cookies Grains and Dry Goods 2024 (%) Volume Net Revenue 62% 9% 29% 49% 22% 29%
- 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, demonstrating its capacity to successfully identify, acquire, and integrate 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) 7 •Launch: Coffee business (União brand) Mabel & Toddy – biscuits and Cookies
- 8. 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 made 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 ensuring 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 purchases 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. 169 123 142 209 315 375 361 423 547 490 483 442 787 810 920 914 907 23% 23% 24% 27% 24% 25% 23% 25% 25% 25% 26% 23% 22% 20% 21% 20% 19% 11% 9% 10% 12% 11% 11% 10% 10% 11% 11% 10% 8% 11% 9% 9% 8% 7% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 EBITDA Gross Margin EBITDA Margin 2601 2935 3683 3331 3346 3915 5354 6726 7591 8392 8915 1075 1294 1265 1332 1403 1481 2112 2290 2614 2858 3348 1,513 1,313 1,407 1,784 2,776 3,582 3,676 4,229 4,948 4,663 4,749 5,396 7,466 9,016 10,206 11,250 12,263 -13% 7% 27% 56% 29% 3% 15% 17% -6% 2% 14% 38% 21% 13% 10% 9% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Brazil International Growth Rate 1,196 1,169 1,229 1,210 1,236 1,351 1,403 1,480 1,335 1,342 1,302 32 37 40 36 35 39 37 59 140 174 193 534 586 706 732 630 634 678 627 703 675 620 454 473 505 564 852 1,300 1,883 1,792 1,974 1,978 1,901 2,024 2,115 2,166 2,178 2,192 2,115 4% 7% 12% 51% 53% 35% 2% 10% 0% -4% 6% 5% 2% 1% 1% -4% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 High Turnover High Growth International 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% 1.7% 4.7% 5.1% -0.1% 7.5% 4.0% 1.9% 3.0% 0.5% -3.5% -3.3% 1.3% 1.8% 1.2% -3.3% 4.8% 3.0% 2.9% 3.4% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Retail Sales Total GDP For over 15 years, Camil has delivered solid operational and financial results, despite economic slowdowns in Brazil. 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) IBGE 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) CAGR2008-2024 11.1% CAGR2008-2024 14.0% CAGR2008-2024 10.8%
- 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 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 2023 146.51 95.47 1.53 2024 173.89 113.44 1.53
- 11. Grains - Brazil Coffee Sugar Grains - Brazil International Fish Pasta Cookies & Biscuits 11 HIGH TURNOVER HIGH GROWTH Products and Brand Awareness PORTFOLIO AND NEW CATEGORIES 2021-2022 +4 CATEGORIES & +1 COUNTRY Pasta, Biscuits & Coffee (Brazil) Healthy Products (Uruguay) Rice (Ecuador)
- 12. 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
- 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 ~28%² market share Market Share 13 ✓ 112 100 Sugar price² 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 +12% 28% União: Brand of strong emotional bond, preferred by consumers and with greater perception of value Notes: (1) Top of Mind Camil Ipsos 2022; (2) Scanntech (launch in 1S22) Coffee ✓ ✓ ✓
- 14. Pasta 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 December, 2024 Brazil Market Share² ³ 1) IPSOS Institution; 2) Scanntech; 3) Uruguay: Scanntech; Chile: Nielsen Scantrack; Peru: Lock&Asociados, Canal Supermercados; Equador: Kantar. 7% (Aged Rice) 48% 30% 28% 1st 2nd 1nd 1st •União: registered as Alto Renome (highly renowned) brand 3% 10% 1st Rice 6% 3rd Beans 28% 1st Sugar 40% 2nd Sardine 2nd 26% Tuna 4th 6% Brazil; 32% MG (#1) 3% Brazil; 4% GSP/GRJ (#4) Coffee Biscuits 4th 10th , Recognition Coffee Pasta Tuna Sardine Rice Sugar Beans 81 vs. 61 (#2) 90 vs. 58 (#2) 95 vs. 68 (#2) 39 vs. 75 (#1) 79 vs. 81 (#1) 81 vs. 88 (#1) 89 vs. 77 (#2) 1st 1st 1st 4th 2nd 2nd 2nd 14 96 vs. 87 (#2) 100 vs. 89 (#2) 99 vs. 94 (#2) 71 vs. 95 (#1) 95 vs. 95 (#1) 93 vs. 92 (#2) 96 vs. 95 (#2) Biscuits 2nd 76 vs. 55 (#3) 96 vs. 78 (#2) BHT measures brand health—awareness, prior buyers, and rank versus competitors.
- 15. Own Sales Force Wholesale Retailers Key Accounts Outsourced Sales Force Distributors, Exports & Others # Indicates the representativeness of volume by region in Brazil 16% 13% 41% 25% % Sales (tons) 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 Brazil: 87% of sales made by the Company´s own sales force and 13% from distributors, exports and others. Brazil Chile Brazil: % Sales (ton) Peru 9% 48% 8% 36% Retail Wholesale Other Distributor 7% 93% Local Sales Exports 46% 39% 15% Retail WholeSale Others 29% 24% 34% 13% 42% 46% 12% Small Retail Wholesale Others
- 17. 456 454 473 505 560 817 1,267 1,196 1,169 1,229 1,210 1,236 1,351 1,401 1,478 1,335 1,342 1,302 0 200 400 600 800 1000 1200 1400 1600 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 17 Brazil Food Segment | High Turnover High turnover: Grains and Sugar in Brazil Substantial Historical Growth in a Fragmented Industry - Consolidation Opportunity CAGR 08-24: +6.8% 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$/kg) Camil Historical Quarterly Volume (k ton) • Camil - Rice: #1 Rice Brand in Brazil, with 10% market share • Camil - Beans: #3 Beans Brand in Brazil, with 6% market share • União - Sugar: #1 Refined Sugar Brand in Brazil, with 28% market share and a 12% price premium • Other brands: +10 value priced brands to meet the demand of consumers seeking for lower prices and regional brands High turnover: weekly cost transfer capability Mkt. Prices Camil’s Gross Price Notes: (1) Scanntech (2) CEPEA; rice indicator Esalq/Senar-RS 50kg; Agrolink; beans indicator Sc 60kg; CEPEA; Cristal Sugar indicator Esalq-SP 50kg. 2 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 - 50 100 150 200 250 300 350 400 - 1.00 2.00 3.00 4.00 5.00 6.00 7.00 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Camil's Gross Price Rice - Mkt. Price Beans - Mkt. Price Sugar - Mkt. Price
- 18. 4 34 33 32 37 40 36 35 39 37 60 140 174 193 0 50 100 150 200 250 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 18 Brazil Food Segment | High Growth High Growth: canned fish, pasta, biscuits/cookies and coffee in Brazil High Growth Opportunity with well-recognized brands and a portfolio with value added categories in Brazil CAGR 11-24’: +34.7% Mains Brands¹ Camil Historical Annual Volume (k ton) Camil’s Gross Price vs Market Prices (R$/kg) Camil Historical Quarterly Volume (k ton) • Canned Fish: Coqueiro. #2 player, with 40% market share in sardines and 26% in Tuna • Pasta: Santa Amalia. #1 player in pasta in Minas Gerais region, with a 31% market share (#4 player in Brazil), with the launch of Camil brand pasta in 2024. • Coffee: União. Launch in April/2022, 4% 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, with 3% market share in Brazil 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) Scanntech (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 Mkt. Prices Camil’s Gross Price 0 10,000 20,000 30,000 40,000 50,000 60,000 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 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 - 500 1,000 1,500 2,000 2,500 - 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 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Camil's Gross Price Wheat - Mkt. Price Coffee - Mkt. Price
- 19. 534 586 706 732 630 634 678 627 703 675 620 0 100 200 300 400 500 600 700 800 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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) +90% of international operations focused on rice CAGR 14-24’: +1.5% 1st Saman: 48% Mkt. Share 1st Tucapel: 30% Mkt. Share Costeño: 30% Mkt. Share 2nd Rico Arroz: 13% (Aged Rice) Camil’s Gross Price 1) Uruguay: Informe comission sectorial de arroz; Chile: Nielsen Scantrack; Peru: Lock&Asociados, Canal Supermercados; Equador: company. 1 0 50,000 100,000 150,000 200,000 250,000 300,000 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 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 - 1.00 2.00 3.00 4.00 5.00 6.00 7.00 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 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1st
- 20. Brazil – RICE1 & 2 #1 10% #2 Player 2 7% #3 Player 3 5% 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) Scanntech Consolidation: Grains in Brazil New Categories and New Products New Geographies: LatAm Brazil – BEANS1 & 2 #1 Player 1 10% #2 Player 2 7% #3 6% Rice Beans 1st 3rd 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 III II I IV 7% 7% 8% 35% 7% 14% 15% 30% VI 3% 11% V 2% 18% % rice market share1 & 2 - Camil % rice consumption by region III II I IV 7% 1% 1% 15% 8% 15% 19% 29% VI 1% 8% V 3% 17% % beans market share1 & 2 - 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 and Paraguai
- 21. Section lll Capital Markets Transactions
- 22. 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. 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) R$63 million (dec/21) R$177 million (nov/22)
- 24. 8 Buyback Programs Substantial Growth in Number of Investors to 38k on April.25 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 5 254 73% Institutional 191 56 16% Retail/Ind. Holders 37,424 40 11% Total 37,620 350 100% 53% 47% Free Float Ownership (% shares held by Institutions) April 2025 Management & Related Parties¹ 0.1% 2.6% Treasury Shares Note: 1) Includes the position Statutory Directors, Members of the Board of Directors, Fiscal Council and Management Committees; Share Buyback +69 million ON shares acquired and +R$535 million Invested in share buyback +60 million ON shares canceled 350 million ON IPO - 2017 Feb - 2024 -17% 410 million ON • Common voting shares only • 100% Tag along • 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: 7 members, 71% independent (2 women - certified by WOB - Women on Board) 350mn shares April 2025 Concluded in January 2024 Shares in Treasury 2.6% Camil Investimentos 70% Free Float 27% Other Free Float Jacques Quartiero Camil Investimentos Luciano Quartiero 51.4% 7.5% 5.7% 5.4% 27.4% Thiago Quartiero
- 25. 25 Debt Issuances Emissions 9th Debenture 10th Debenture 11th Debenture 12th Debenture (CRA) 13th Debenture (CRA) 14th Debenture (CRA) Emission Date Sep/2020 May/2021 Nov/2021 Jun/2023 Nov/2023 Jun/2024 Emission 9th Deb. Issuance 10th Deb. Issuance 11th Deb. Issuance 12th Deb. Issuance/CRA 13th Deb. Issuance/CRA 14th Deb. Issuance/CRA Securitization Company - - - Eco Securitizadora Eco Securitizadora Eco Securitizadora Total Amount R$350 million R$600 million R$650 million R$625 million R$650 million R$650 million Cost / serie 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. 1st : CDI+0.65% p.a 2nd : IPCA+6,34% p.a 3rd : IPCA+6,52% p.a 1st : 104% of CDI 2nd : IPCA + 6,82% p.a 3rd : IPCA + 6,99% p.a Amortization 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) 1st : Bullet 2nd : Nov.2029 & Nov.2030 3rd : Nov.2031, Nov.2032 & Nov. 2033 1st : Bullet 2nd : Jun.2031 3rd : Jun.2034 Interest Semester Semester Semester Semester Semester Semester Financial Covenant Net Debt/EBITDA LTM <4.0x Net Debt/EBITDA LTM <4.0x Net Debt/EBITDA LTM <4.0x Net Debt/EBITDA LTM <4.0x Net Debt/EBITDA LTM <4.0x Net Debt/EBITDA LTM <4.0x Liability Management on amortization profile schedule National: Br AA+ (stable) May, 2025 Agribusiness Receivables Certificate (CRA) Debt Evolution Rating Amortization Schedule 2,111 619 765 681 627 471 Feb/26 Feb/27 Feb/28 Feb/29 Feb/30 After Feb/30 571 1,032 1,033 1,080 1,634 2,743 2,671 2.691 1.2 2.1 2.3 1.4 2.0 3.0 2.9 3.0 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22 4Q23 4Q24 Net Debt Net Debt/EBITDA LTM Covenant Covenant: 4,0x* (as of Feb/26, after 8th Debentures Issuance maturity)
- 26. Section IV ESG
- 27. Governance: Statutory Directors, Councils and Committees Thiago Quartiero (Camil Investimentos, Tzar and Q4) Jacques Quartiero (Camil Investimentos and Q4) José Antônio Fay (Former Board Member at J.Macedo, SuperBac & former CEO of BRF. Board member at São Salvador Alimentos S.A. & SEMAPA SGPS. S.) Carlos Júlio (Former CEO of Tecnisa, HSM, Polaroid. Board member at Aramis, Katz and TV1.Curator Training at Startse Advisors) 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/2026 ✓7 members, 71% 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/2025) Audit Committee ✓Formed by 3 effective members ✓5Y Term (June/2025 & 2029) Finance, Investments and Risk Committee ✓Formed by 3 effective members ✓2Y Term (June/2026) Strategy, Innovation, Brands and Market Committee ✓Formed by 5 effective members ✓2Y Term (June/2026) Personnel Management Committee ✓ Formed by 4 effective members ✓2Y Term (June/2026) ESG and Ethics Committee ✓Formed by 3 effective members ✓2Y Term (June/2026) 27 Piero Minardi (Warburg Pincus, board member of GPS, America Net, Eleva Educação, Curupira S.A.) Sandra Montes (CMO at Olist, Ex CMO of Rappi, OLX and Electrolux) Cláudia Elisa (Board Member at CPFL Energia, Smartfit, BP São Paulo and Chairman of Cassol Group. Ex- member of Tupy, Even, TOTVS, Arrezo&co e Cassol) Luciano Quartiero CEO Flavio Vargas, CFA CFO and IR Director 32 32 Experience Education 8 28 Experience Education Statutory Directors 2 C-level statutory directors ✓ 2Y Term (June/2026) Years of Experience in Camil Years of Experience in the market Councils and Committees Board of Directors
- 28. ESG and Ethics Committee ESG Goals Integration of best practices into the business management and development strategy, focused in sustainable growth and c-level engagement 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) ✓ Goals aligned with the ESG Pillar ✓ Variable remuneration to Directors/Leaders linked to ESG goals ✓ Measurable targets for assessing the impact of the business model on people and the environment ✓ ESG leaders and report to the ESG and Ethics Committee. ✓ Formed by 4 Directors (Including CEO) ✓ Implementation of goals and practices aligned with the strategic pillars and risk reduction. ✓ ESG Leaders across the directories ✓ Multidisciplinary teams (+80 people), distributed in the 5 countries where Camil operates ✓ Meetings to report and improve ESG themes Internal ESG Committee ESG Leadership
- 29. Sustainable Culture ✓Variable compensation linked to ESG goals. ✓+80 people in ESG Brazil, Uruguay, Chile, Peru and Ecuador, with initiatives linked to material topics and monitored by the ESG and Ethics Committee. ✓71% independent members on the Board of Directors . Ethics & Integrity ✓LatAm Integrated Risk Management ✓99% of employees trained in the Code of Ethics. Employee Health, Safety and Development ✓The number of lost time incidents decreased decreased substantially in the last 5 years, with Brazil standing out, where the reduction reached 37% ✓Training School project in the Itaqui and Navegantes 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 ✓+35% 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 ✓3,812 tCO2 avoided through the acquisition of renewable energy in Brazil in the last year Supply ✓Workshops for suppliers on best ESG practices Social Investment ✓Confectionery and Business School Doce Futuro União 2.0, with more than 600 graduates. ✓Business School Grãos da Base, We trained 24 businesses in four months; in the course, we covered topics such as business management, culinary arts, marketing, among others. 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 Corporate Sustainability Index 2024