2Q18 Earnings Presentation 1 Highlights 2Q18 Financial Highlights - PowerPoint PPT Presentation

2Q18 Earnings Presentation 1

Highlights 2Q18 Financial Highlights Latest News Comparisons refer to 2Q17 and subsequent events R$1.1 billion Net Revenue ( -1.4%) September-2018 R$801 million Brazil Food Segment ( -1.7%) • Celebration of our IPO´s 1 year anniversary R$345 million International Food Segment ( -0.8%) • Top Company in the Food & Beverages Small Cap category R$316 million Gross Profit ( +12.0%) by the Institutional Investor magazine 27.6% Gross Margin ( +3.3pp) August-2018 R$135 million EBITDA ( +17.9%) • IOE Payment of R$20mn, or approx. R$0,05 per share 11.7% EBITDA Margin ( +1.9pp) • Sale of argentinian subsidiary La Loma for US$5,5mn R$79 million Net Profit ( +96.3%) • Market Maker Service Agreement 6.9% Net Margin ( +3.4pp) • Camil and União recognized as best brands in Rice, Beans and Sugar categories by Datafolha 1.8x Net Debt/EBITDA • Super Varejo Magazine included Camil in the Top 5 of 2018 ranking Excluding the non-recurring effect of La Loma’s sale: • Camil ranked in 118 th position by Valor 1000 Award R$119 million EBITDA¹ ( +4.5%) • Launch of Arroz Camil Minuto Caseiro (Minute Made Rice) 10.4% EBITDA Margin ( +0.6pp) R$68 million Net Profit¹ ( +68.7%) 5.9% Net Margin ( +2.5pp) 2 ¹Excludes the effect of La Loma´s sale registered in Other Operating Revenues

2Q18 Operating Performance Sequential volume growth in all our categories Historical Operating Performance (‘000 ton) 600,000 500,000 400,000 300,000 200,000 100,000 0 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 Rice - Brazil Beans Sugar Fish International Source: Company 2Q18 Volume and Revenue Breakdown (%) 2Q18 Operational Highlights (‘000 ton ) Highlights 2Q17 1Q18 2Q18 2Q18 vs 2Q18 vs Volume Net Revenue Closing Date 31-ago-18 31-may-18 31-ago-18 2Q17 1Q18 Volume - Brazil Grains 175.3 153.3 182.2 3.9% 18.9% Rice - Brazil Rice 155.8 136.1 162.7 4.4% 19.6% 30% International Rice - Brazil Beans 19.5 17.2 19.5 -0.1% 13.2% International 32% 34% 34% Sugar 138.5 123.4 132.2 -4.5% 7.2% Canned Fish 6.2 5.0 8.1 31.5% 62.2% Fish Volume - International 203.7 128.8 151.6 -25.6% 17.7% Beans 2% 5% Beans Uruguay 158.1 86.0 104.0 -34.2% 21.0% Fish 4% Chile 19.4 20.4 19.9 2.8% -2.4% Sugar Sugar 11% 20% Peru 23.1 19.5 20.9 -9.8% 6.9% 28% Argentina 3.1 2.9 6.8 120.6% 136.3% Source: Company 3

Brazil Food Segment | Rice Sequential and annual volumes recovery, with an increase on value pricing brands volumes Rice – Camil’s Volume and Net Prices Rice – Market Prices vs. Camil’s Gross Prices 200,000 2.50 52.0 2.80 2.34 2 0 0 ,0 0 0 2.20 2.20 2.11 50.0 2.04 2.04 2.70 1.97 180,000 2.00 1.85 1 8 0 ,0 0 0 48.0 2.60 Esalq Senar (RS/50kg) Camil (R$/kg) 162,717 162,717 46.0 159,448 155,798 2.50 160,000 1.50 1 6 0 ,0 0 0 44.0 2.40 145,938 144,294 42.0 136,080 140,000 1.00 2.30 1 4 0 ,0 0 0 40.0 128,372 2.20 38.0 120,000 0.50 2 0 1 ,0 0 0 2.10 36.0 34.0 2.00 100,000 - 0 0 1 ,0 0 0 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 3Q17 4Q17 1Q18 2Q18 2Q15 2Q16 2Q17 2Q18 QoQ YoY Brazil - Rice Price Gross Prices Volume (k ton) Net Prices (R$/kg) Source: Company Source: Esalq Senar, Company Rice – Quarterly Highlights Rice – Product Portfolio Sales Volume : 162.7 thousand tons Mainstream • +19.6% QoQ • +4.4% YoY Average raw material price: R$41.70/bag¹ • +16.3% QoQ • +4.6 YoY Value Pricing Gross price Camil: R$2.49/kg • Brands +9.8% QoQ • +4.4% YoY QoQ and YoY recovery in volumes Regained competitiveness on the value pricing brands segment Source: Company 4 ¹Source: CEPEA; Rice indicator Esalq/Senar-RS 50kg

Brazil Food Segment | Beans Sequential volumes recovery, with an increase on Camil’s brand volume Beans - Camil’s Volume and Net Prices Beans - Market Prices vs. Camil’s Gross Prices 30,000 500 8.50 6.72 3.24 3 0 , 0 0 3.30 0 3.05 450 3.10 7.50 2.92 3.90 400 2.90 2.78 3.14 2.78 350 6.50 Agrolink (RS/60kg) 2.70 Camil (R$/kg) 300 2.50 19,783 19,462 19,482 19,462 5.50 20,000 18,896 250 2.30 17,194 16,413 16,066 200 4.50 2.10 150 1.90 3.50 100 1.70 50 2.50 10,000 1.50 1 0 , 0 0 0 3Q17 4Q17 1Q18 2Q18 2Q15 2Q16 2Q17 2Q18 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 YoY QoQ Brazil - Beans Price Camill - Gross Price Volume (k ton) Net Prices (R$/kg) Source: Agrolink, Company Source: Company Beans – Quarterly Highlights Beans – Product Portfolio Sales volume : 19,5 thousand tons Mainstream • +13.2% QoQ • -0.1% YoY Average raw material price: R$101.80/bag¹ • +3.9% QoQ • -38.6% YoY Value Pricing Gross price Camil : R$3.35/kg • Brands +2.2% QoQ • -25.6% YoY Sequential volume increase Increase on Camil’s brand sales Source: Company 5 ¹Source: Agrolink; Carioca beans index 60kg/bag.

Brazil Food Segment | Sugar Sequential volumes recovery, with an increase on União’s brand volume Sugar - Camil’s Volume and Net Prices Sugar - Market Prices vs. Camil’s Gross Prices 2.50 200,000 110.0 3.00 2 0 0 ,0 0 0 2.20 2.80 100.0 1.97 2.00 1.84 1.83 1.81 1.83 1 8 0 ,0 0 0 2.60 1.66 Esalq CEPEA SP (RS/50kg) 90.0 1.51 2.40 1.50 Camil (R$/kg) 1 6 0 ,0 0 0 152,786 80.0 2.20 150,000 141,996 138,469 70.0 1.00 2.00 1 4 0 ,0 0 0 132,321 132,244 132,244 60.0 123,457 1.80 118,028 0.50 1 2 0 ,0 0 0 50.0 1.60 40.0 1.40 - 100,000 1 0 0 ,0 0 0 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 3Q17 4Q17 1Q18 2Q18 2Q15 2Q16 2Q17 2Q18 QoQ YoY Brazil - Sugar Price Camill - Gross Price Volume (k ton) Net Prices (R$/kg) Source: Esalq Senar Source: Esalq Senar, Company Sugar – Quarterly Highlights Sugar – Product Portfolio Sales volume : 132.2 thousand tons Mainstream • +7.2% QoQ • -4.5% YoY Average raw material price : R$54.80/saca¹ • +2.4% QoQ • -35.9% YoY Value Pricing Gross price Camil: R$2.10/kg • Brands +7.9% QoQ • -7.8% YoY Increase on União’s brand sales Value pricing brands volume decrease Source: Company 6 ¹Source: CEPEA; cristal sugar index Esalq-SP 50kg.

Brazil Food Segment | Canned Fish Sequential and annual volumes recovery, with an increase on Coqueiro’s brand volume Canned Fish - Camil’s Volume and Net Prices Canned Fish - Camil’s Gross Prices 20,000 20.00 22.00 2 0 , 0 0 0 18,000 18.00 21.00 15.73 15.59 15.59 16,000 15.01 16.00 14.76 14.43 14.53 20.00 14,000 14.00 12.93 11,394 12,000 12.00 10,925 19.00 10,000 10.00 8,125 8,299 8,125 18.00 8,000 8.00 6,415 6,180 6,000 6.00 17.00 5,009 4,000 4.00 16.00 2,000 2.00 15.00 0 - 0 Aug-16 Nov-16 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 3Q17 4Q17 1Q18 2Q18 2Q15 2Q16 2Q17 2Q18 QoQ YoY Camill - Gross Price Volume (k ton) Net Prices (R$/kg) Source: Company Source: Company Canned Fish – Quarterly Highlights Canned Fish – Product Portfolio Sales volume : 8.1 thousand tons Mainstream • +62.2% QoQ • +31.5% YoY Gross price Camil: R$20.19/kg • -6.5% QoQ • +6.2% YoY Value Pricing Increase on Coqueiro’s brand sales Brands Products pricing adjustments, regaining competitiveness Source: Company 7

International Food Segment Sequential volume recovery, with growth in BRL prices due to exchange rate depreciation International - Main Considerations International Operational Performance – Quarterly Evolution (‘ 000 ton) 250,000 Export Market Uruguay 200,000 Sales Delay Sales volume : 86.0 thousand tons • Impact +21.0% QoQ 150,000 • -34.2% YoY Gross Price in US$/ton : 100,000 Gross Price in BRL : 2.01 • • -0.5% QoQ +9.6% QoQ • • +7.6% YoY +28.0% YoY 50,000 Local Market Chile 0 1Q142Q143Q144Q141Q152Q153Q154Q151Q162Q163Q164Q161Q172Q173Q174Q171Q182Q18 Uruguay Chile Peru Argentina Profitability Sales volume : 20.4 thousand tons Source: Company Increase -2.4% QoQ +2.8% YoY International – Breakdown 2Q18 (%) Gross Price in CLP/ton : Gross Price in BRL : 5.92 Volume Net Revenue • • -2.8% QoQ +2.1% QoQ Argentina • Argentina • +1.5% YoY +22.4% YoY 4% 4% Peru Peru 14% 21% Local Market Peru Uruguay Chile 50% Political Sales Volume : 19.5 thousand tons 13% Instability +6.9% QoQ Uruguay Chile -9.8% YoY 69% 25% Gross Price in SOL/ton : Gross Price in BRL: 4.67 • • -2.2% QoQ +8.4% QoQ • • +1.3% YoY +20.1% YoY Source: Company 8