4Q18 Earnings Presentation 1 Disclaimer The following material - PowerPoint PPT Presentation

4Q18 Earnings Presentation 1

Disclaimer The following material presents the results for the fourth quarter of 2018 (4Q18 – Dec/2018 to Feb/2019) and of the year of 2018 (Mar/2018 to Feb/2019). In this release, financial data is presented in accordance to the International Financial Reporting Standards and represents the Company’s consolidated results in million reais (R$) with comparisons referring to the fourth quarter of 2017 (4Q17 – Dec/2017 to Feb/2018; YoY comparisons) and of the year of 2017 (Mar/2017 to Feb/2018), except when otherwise specified. Results here presented contemplate the results of SLC Alimentos as of the acquisition´s conclusion, on December 3rd, 2018. This presentation contains resumed information which shall not be considered complete. This material is published solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Likewise it does not give and should not be treated as giving investment advice. It has no regard to the specific investment objectives, financial situation or particular needs of any recipient. Certain percentages and other amounts included in this document have been rounded to facilitate its presentation. Thus, numbers presented as total 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 are not audited, as they consist in measures which are not recognized by IFRS or other accounting standards. Nor this presentation, neither anything here contained, should create basis for any contract or commitment. All information here contained are subject to adjustments and revisions without notice. By creating this presentation, neither the Company, nor any of it´s affiliated companies, directors, executives or employees assume any obligation to supply the receiver access to any additional information, update this presentation or any information, or correct any inaccuracy in any of these informations. This presentation does not contain all of the relevant information about the Company. 2

Highlights News and Announcements Highlights of 2018 Recent events Launches • Camil Alimentos CRA IV Debenture Issuance with total value • Camil: “Arroz Minuto Caseiro ” ; of R$600 mm in Apr/19 • União: Launch of cake mix; • 2nd Share Repurchase Program was approved, of up to • P&D: Partnership Amyris – Natural Sweetener ; 3.565.275 common shares, with Oct/19 as the final date • Coqueiro: Tuna and Sardine Fillets • SLC Alimentos Incorporation approved at Camil’s Extraordinary General Meeting in Mar/19 • Launch of the New Factory in Suape (PE) in Mar/19, with multi-category production and a distribution center attached Awards 2018 Highlights • Company of the year “ Melhores da Dinheiro Rural ” (2018 ); • SLC Alimentos Acquisition and Incorporation ; • Datafolha’s Award of Best Rice, Beans and Sugar brands • IPO: 1-year celebration of Camil’s IPO in Sep/2018; for Camil and União (2018); • IOE: distribuition of R$85mm in the fiscal year; • Camil in “ The 5 most ” ranking of 2018 in the Sugar and • La Loma Selling (Argentina) in August 2018; Tuna categories by Revista Super Varejo; • Market Maker in August 2018; • IR Magazine Awards Prize 2018 – Best IR by CEO or CFO • Share Repurchase 1st Program concluded in June 2018 and Small cap and Best IR Executive Small cap; 2nd Program approved in April 2019; • Multiple honors by Institutional Investor ; • Administration: Installation of Fiscal Council and • Camil is one of the “ Innovation Champions ”, by Revista Management Commites; Amanhã; • Market : Truck drivers´ strike in May 2018. • “ The Largest and the Best” by Exame (2018); • “ Valor 1000” Prize (2018); • “ RA 1000” Stamp 2018 (Attendance); • Award “APAS Acontece ” by Mercearia Commodities 3

Main Indicators Camil reached Gross profit of R$321mm (+13% YoY) with Gross margin of 24.2% in the quarter and R$1.2 bn (+6.2% YoY) with 25,7% margin in the year. Highlights 4Q17 3Q18 4Q18 4Q18 vs 4Q18 vs 12M17 12M18 12M18 vs. Closing Date 28-Feb-18 31-nov-18 28-Feb-19 4Q17 3Q18 28-Feb-18 28-Feb-19 12M17 Net Revenues 1.116,3 1.266,8 1.332,0 19,3% 5,1% 4.663,0 4.748,8 1,8% Food Products Brasil 767,0 857,5 987,6 28,8% 15,2% 3.331,5 3.346,3 0,4% Food Products International 349,3 409,3 344,4 -1,4% -15,9% 1.331,5 1.402,5 5,3% Gross Profit 284,9 319,9 322,4 13,2% 0,8% 1.150,5 1.221,7 6,2% Gross Margin (%) 25,5% 25,3% 24,2% -1,3pp -1,0pp 24,7% 25,7% 1,1pp EBITDA 119,3 151,4 115,2 -3,5% -23,9% 489,8 483,4 -1,3% EBITDA Margin (%) 10,7% 12,0% 8,6% -2,0pp -3,3pp 10,5% 10,2% -0,3pp Net Income 77,3 150,3 100,3 29,8% -33,3% 250,7 362,4 44,6% Net Margin (%) 6,9% 11,9% 7,5% 0,6pp -4,3pp 5,4% 7,6% 2,3pp Capex 26,5 42,7 295,3 1014,2% 591,4% 98,2 397,2 304,5% Operational Highlights - Volume (in thousand ton) Volume - Brazil Grains 144,8 153,7 221,2 52,8% 43,9% 668,5 710,3 6,2% Rice 128,4 133,6 197,7 54,0% 48,0% 596,1 630,1 5,7% Beans 16,4 20,1 23,5 43,0% 16,9% 72,4 80,2 10,8% Sugar 118,0 134,7 135,2 14,6% 0,4% 541,2 525,5 -2,9% Canned Fish 11,4 10,1 12,0 5,0% 18,1% 36,1 35,2 -2,3% Volume - International 184,0 179,1 170,6 -7,2% -4,7% 717,7 620,6 -13,5% Uruguay 143,2 136,5 131,0 -8,5% -4,0% 547,8 457,6 -16,5% Chile 18,3 20,4 18,6 1,9% -9,0% 75,8 79,4 4,8% Peru 22,5 22,2 21,0 -6,9% -5,5% 94,1 83,6 -11,2% 1 SLC Alimentos´ Results consolidated as of the conclusion of the acquisition (December 3, 2018). 4 2 Information on International Volume exclude La Loma, Argentinian subsidiary with 100% of Camil´s participation sold in 2Q18.

Financial Highlights of the Quarter Net Revenue grows 19.3% in the period, with an increase of 13.2% in the Brazil Food Segment´s Net Revenue, driven by SLC Alimentos acquisition in the period Highlights (var. YoY) 4Q18: Profitability Evolution (R$mm) R$1.5 billion Gross Revenue ( +16.9%) R$1.3 billion Net Revenue ( +19.3%) R$988 million Brasil Food Segment ( +28.8%) R$344 million International Food Segment ( -1.4%) R$322 million Gross Profit ( +13.2%) 24.2% Gross Margin ( -1.3pp) R$115 million EBITDA ( -3.5%) 8.6% EBITDA Margin ( -2.0pp) 4Q18: Gross Revenue Breakdown (R$mm) R$100 million Net Profit ( +29.8%) 7.5% Net Margin ( +0.6pp) Excluding the effects of non-recurrent revenues and expenses¹: R$87 milion EBITDA ( -26.8%) 6.6% EBITDA Margin ( -4.1pp) R$78 million Net Profit ( +0.4%) 5.8% Net Margin ( -1.1pp) 1 Excluding the effects of non-recurrent revenues in other operating revenues (expenses), financial result 5 and income tax.

Financial Highlights of the Year Growth of 1.8% in Net Revenue in the period, with an increase of 5.3% in the International Food Segment Net Revenue, driven by Exchange rate effect in the period Highlights (var. YoY) Profitability Evolution (R$mm) R$5.5 billion Gross Revenue ( +1.2%) R$4.7 billion Net Revenue ( +1.8%) R$3.3 billion Brasil Food Segment ( +0.4%) R$1.4 billion International Food Segment ( +5.3%) R$1.2 billion Gross Profit ( +6.2%) 25.7% Gross Margin ( +1.1pp) R$483 million EBITDA ( -1.3%) 10.2% EBITDA Margin ( -0.3pp) 2018: Gross Revenue Breakdown (R$mm) R$362 million Net Profit ( +44.6%) 7.6% Net Margin ( +2.3pp) Excluding the effects of non-recurrent revenues and expenses¹: R$404 million EBITDA ( -17.5%) 8.5% EBITDA Margin ( -2.0pp) R$249 million Net Profit ( -0.6%) 5.2% Net Margin ( -0.1pp) 1 Excluding the effects of non-recurrent revenues in other operating revenues (expenses), financial result 6 and income tax.

Operational Highlights Growth of 16.8% in the quarterly consolidated volume YoY, driven by the growth in grains in the period and reduction of 4.4% YoY in the year, with an international volume reduction in the period Quarterly Volume Evolution (k ton) Annual Volume Evolution (k ton) Volume Breakdown by Country (%) Volume Breakdown by Segment (%) 4Q18 2018 4Q18 2018 Argentina Peru Peru 1% 12% 13% Chile Internacional 11% Chile Internacional 25% 13% 32% Brasil Uruguai Uruguai Brasil 68% 73% 77% 75% 7

Brazil Food Segment | Rice We highlight volume increase in the quarter and a challenging sales scenario in the year Rice – Volume and Camil Net Price Rice – Brazil Market Price vs. Camil Gross Price 60 2.7 2.6 55 Esalq Senar (RS/50kg) 2.5 Camil (R$/kg) 50 2.4 45 2.3 40 2.2 35 2.1 30 2.0 Feb-17 May-17 Aug-17 Nov-17 Feb-18 May-18 Aug-18 Nov-18 Feb-19 Brazil - Rice Price Gross Prices Source: Company Source: Esalq Senar¹, Company Rice – Highlights Rice – Product Portfolio Sales Volume • Mainstream 4Q18: 197.7 k tons (+48.0% QoQ and +54.0% YoY) • 2018: 630.1 k tons (+5.7% YoY) Sales Volumes ex-SLC Alimentos: • 4Q18: 147.3 k tons (+10.2% QoQ and +14.7% YoY) • 2018: 579.7 k tons (-2.8% YoY) Average Raw Material Price¹ Value pricing • 4Q18: R$40.09/bag (-8.9% QoQ and +9.5% YoY) brands • 2018: R$40.41/bag in 2018 (+5.3% YoY) Camil Gross Price • 4Q18: R$2.46/kg (-5.4% QoQ and +5.5% YoY) • 2018: R$2.46/kg (+3.8% YoY) Source: Company 8 ¹Source: CEPEA; Paddy Rice Index Esalq/Senar-RS 50kg.