Camil is a leading food company in Latin America with iconic brands in grains, sugar, pasta, canned fish and coffee. It has a wide distribution network across Brazil, Uruguay, Chile, Peru and Ecuador. Camil has a resilient business model with stable margins supported by weekly price adjustments. The company has opportunities for continued organic and inorganic growth through its established platform and experience in M&A integration. Camil also has a strong balance sheet and commitment to good governance and ESG practices.

1. Institutional
Presentation
September, 2022

2. Financial data is presented in accordance to the International Financial Reporting Standards and represents the Company’s
consolidated results in million reais (R$), unless otherwise indicated. Company fiscal year begins in March and ends in
February of the following year (inclusive). The results here presented includes recent transactions data as of its 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 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. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or
reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of
their own judgment.
This presentation contains resumed information which shall not be considered complete. 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 its 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 information. This presentation does not contain all of the relevant information about the
Company.
Disclaimer
2

3. I. Camil Alimentos Overview
II. Key Investment Thesis
III. Successful Transactions
IV. ESG
V. Financial and Operational Highlights
Appendix
A. Selected Comparable Companies
Table of Contents
3

4. Section I
Camil Alimentos Overview

5. Camil: One of the Largest Food Companies in LatAm
5
One of the Leading
Companies in LatAm
Leadershipin Braziland LatAm 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 Segment¹
Strong Positioning
Strongcashpositionandinvestment
gradedebt profile
Notes:
Company fiscal year begins in March and ends in February of the following year (inclusive)
1.513 1.313 1.407 1.784
2.776
3.582
2.601 2.935 3.683 3.331 3.346 3.915
5.354
6.726
1.075 1.294
1.265 1.332 1.403 1.481
2.112
2.290
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%
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%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
International Brazil
3.676 4.229
4.948 4.663 4.749 5.396
7.466
9.016
1.313 1.407 1.784
2.776
3.582
2.601 2.935 3.683 3.331 3.346 3.915
5.354
6.726
1.075 1.294
1.265 1.332 1.403 1.481
2.112
2.290
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%
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%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
International Brazil
3.676 4.229
4.948 4.663 4.749 5.396
7.466
9.016
Gross Margin EBITDA Margin

6. 6
Camil At-a-Glance
Notes:
(1) 2021 volumes. It does not include the coffee business in Brazil, launched in March 2022
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 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
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
Distribution Centers: 20
Rice Producing Regions
Beans Producing Regions
Camil’s Facilities²
33 processing
facilities
20 distribution
centers distributed
throughout LatAm
Operations in
5 countries
and multiple
categories in
Brazil
Main Brands
Uruguay
Chile
Peru
Brazil
Ecuador
Sugar Fish Pasta Coffee
Grains and Dry Goods
Iconic brand recognition in all categories and countries
Camil operates in LatAm
Breakdown by Segment¹ (% volume)
Brazil International
Camil: One of the Largest Food Companies in LatAm
7k employees
Brazil
71%
International
29%
Uruguay
74%
Chile
11%
Peru
8%
Ecuador
7%
Rice
53%
Beans
8%
Sugar
32%
Fish
2%
Pasta
5%

7. 60’s: Foundation 80’s: Professionalization and Organic Expansion 2000’s: Acquisitions / International Expansion 2017-2021: 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

8. Differentiated 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 (take-or-
pay)
 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

9. Product Portfolio and Brand Awareness
Complementary product portfolio composed of strong recognized brands, high value added items and value priced brands
Grains
-
Brazil
and other value
priced brands
Grains
and
dry
goods
-
International
Sugar
Pasta
Canned
Fish
Coffee
and other value
priced brands
value priced
brands
(launch in
Mar22)
9

10. 86 vs. 47 (3º)
Brand Awareness and Customer Service
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
Rice Beans
Bought the
Product before
Recognition 98 vs. 75 (3º)
78 vs. 52 (2º)
74 vs. 9 (2º)
Sugar
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
NPS - Customer Service¹
Rice Beans Sugar
100
58
February, 2022
Brazil
1st 1st 1st 1st 2nd
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. 10
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 - Feijão; União 1st -
Sugar
• União: registered as Alto Renome
(highly renowned) brand
20%
(aged rice)
Rice Beans
9%
Sugar
41%
Sardines Tuna
41%
1st
2nd 1st 2nd 2nd
23%
Pasta
4th
7%Brazil;
41%MG
48% 33% 37%
1st 1st 2nd 1nd

11. Camil
Leadership with unique brand awareness in all categories/countries which it operates
4
Wide distribution network
5
Compelling business model with volume growth and resilient margins
6
Management team with high experience in the sector + high standards of corporate governance in LatAm
7
Strong cash position with historical cash flow generation and investment grade indebtedness profile
8
Best-in-class governance and strong E&S agenda
9
Key Takeaways
Market
Resilient demand
The Company’s main markets proves resilient to economic downturns as the consumption of its categories has a strong cultural appeal, being a pillar of
the LatAm consumers typical diet
1
Low exposure to fluctuations in commodities prices
The market dynamics differ materially from the general commodity market, as the quality perception and brand awareness are key factors in customers
buying decision process
2
Weekly price pass-through
Our categories have active price dynamics, with weekly price pass-through, ensuring stability of margins, even in macro stress scenarios in LatAm
3
Growth Avenues
Consolidated platform uniquely positioned for sustainable growth
Camil has a consolidated and scalable distribution platform, positioning the company to leverage on the development on regional growth strategies
throughout LatAm
10
High potential for inorganic growth
Leadership position across all segments the Company operates, coupled with its distribution platform, enabling fast and efficient integration of new
operations and capacity to capture synergies on dry goods categories and new countries
11
11

12. Section II
Key Investment Thesis

13. Leadership Positions
and Iconic Brand
Recognition
2
Wide Distribution
Network
1
Solid Business Model
with Stable and
Resilient Margins
3
Key Investment Thesis
Solid Governance and
E&S Agenda
6
13
Leadership with Wide
Experience in the
Sector
5
Acquisitions and
Tangible Growth
Opportunities
4

14. 7%
30%
58%
5%
Small Retailers Wholesale
Key Accounts Distribution
62%
21%
5%
12%
Retailers
Distributors & Wholesale
Industry
Small Retails
Own Sales Force
Wholesale Retailers
Key Accounts
Outsourced Sales
Force
Distributor
#
Indicates the
representativeness
of direct points of
sale by region in
Brazil
23%
9%
44%
24%
Brazil
14
Wholesale Stores / Retailers
Brazil Key Accounts
Brazil’s successful case of a strong distribution network favoring the business expansion to new segments
Reinforcing a Wide Distribution Network
Brazil Successful Case
Equador Peru
Uruguay
91% of sales made by the
company’s own sales force
and 9% from distributors
(canned fish)
43%
72%
15%
12%
Distributors Wholesale
Retailers Industry
38%
22%
32%
9%
Brazil
Chile
26%
74%
National International
International

15. 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

15

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

16. 16
Notes:
(1) White rice price index Nielsen Retail Index
Wide range of products addressing different value propositions to clients
Wide Product Offering
Rice Case and Rice Strategy in Brazil
Avg market selling price
115
Avg market selling price
105
Avg market selling price
100
Avg market selling price
95
Premium
Upper
mainstream
Mainstream
Value Priced
Products
Product Portfolio - Breakdown Portfolio Camil¹ Product Shelving
Avg. national prices
Avg. regional prices

17. 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%
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%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Retail Sales Total GDP
538 556 600 596 630 743 750 807
68 69 76 72 80
92 94
116
591 545 553 541 526
516 552
557
32 37 40 36 35
39 37
33
534 586
706 732 630
634
687 627
26
4,2% 6,6% 11,8%
50,9% 52,7%
35,5%
1,7% 10,2% 0,2% -3,9% 6,5% 4,3% 2,6%
0
500.000
1.000.000
1.500.000
2.000.000
2.500.000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Pasta International Fish Sugar Beans Rice Growth
852
2,024
1,901
1,978
1,974
1,792
1,762
1,300
564
505
473
454
2,115
2,165
169
123 142
209
315
375 361
423
547
490 483
442
787 810
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%
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%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
EBITDA Gross Margin EBITDA Margin
For over 15 years, Camil has posted solid operational and profitable results, even with a slowdown in the Brazilian economy
17
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)
During 2015-16, Brazil GDP decreased
7.2% - returning to pre-2010 levels
Brazil: GDP and Retail Sales¹ (% growth, real terms)
CAGR2008A-2021 11.8%
CAGR2008A-2021 11,8%
CAGR2008A-2020A 13.6%
1.513
1.313 1.407
1.784
2.776
3.582
2.601 2.935
3.683
3.331 3.346
3.915
5.354
6.726
1.075
1.294
1.265
1.332 1.403
1.481
2.112
2.290
-13,2%
7,1%
26,8%
55,6%
29,0%
2,6%
15,0% 17,0%
-5,8% 1,8%
13,6%
38,4% 53,1%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
International Brazil Growth
3,676
4,229
4,948
4,663 4,749
5,396
7,466
9,016
20,8%

18. Adjusted selling price (1) (CIF - R$/30kg)
Notes:
(1) Adjusted by the monthly inflation of the period, since Jan/2006; (2) Average of the year
(Gross
margin)
Average sale
price
(R$/30kg)2
Average cost
(R$/30kg)2 Sale / Cost
Gross
margin2
Year
2006 38.7 22.6 1.7x 27.7%
Subtitle
Average purchase price (CIF - R$/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)
2007 41.5 24.1 1.7x 26.9%
2008 52.1 33.1 1.6x 25.5%
2009 50.9 30.8 1.7x 23.3%
2010 52.0 29.9 1.7x 25.1%
2011 45.4 24.7 1.8x 27.8%
2012 53.7 32.9 1.6x 25.7%
2013 58.9 35.2 1.7x 23.7%
2014 63.0 37.4 1.7x 24.0%
2015 65.9 36.9 1.8x 24.7%
2016 79.1 45.2 1.7x 24.6%
2017 75.5 41.6 1.8x 24.3%
2018 75.5 40.8 1.9x 25.5%
2019 76.5 44.2 1.7x 19.7%
2020 118.0 78.9 1.5x 20.5%
–
10,0%
20,0%
30,0%
40,0%
50,0%
60,0%
70,0%
80,0%
90,0%
100,0%
-
20
40
60
80
100
120
140
160
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Jan-15
Jul-15
Jan-16
Jul-16
Jan-17
Jul-17
Jan-18
Jul-18
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
18

19. 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: Dry Goods
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
5.4%
2.5%
1.9%
Chile
Ready for
new
categories
Rice sales Growth
(CAGR 2016-2021)
New geographies and new categories in LatAm
Regions with focus on
expansion
New markets
Argentina
Peru Colombia
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
19
Big growth opportunities in dry
goods market in Brazil
(logistics, sales and fiscal synergies
with current operations)
Pasta & others
Coffee
Santa Amália’s (pasta) leadership in MG: opportunity to integrate
Camil's current categories in Minas Gerais

20. Experience
Education
Experience
Education
Notes:
(1) Statutory directors
Leadership with Wide Experience in the Sector
Years of Experience in Camil Years of Experience in the market
29 29
Luciano Quartiero1
CEO
Experience
Education
19 43
Renato Gastaud
LatAm Director
Experience
Education
5 24
Renato Costa
Operations Director
3 22
Erika Magalhães
Human Resources Director
5 26
Flavio Vargas, CFA1
CFO and IR Director
Experience
Education
1 21
Daniel Cappadona
Comercial and Marketing
Director
14 34
André Ziglia
Supply Director
Experience
Education
Experience
Education
 Variable remuneration of all
directors are linked to EBITDA,
volumes/profitability and ESG
goals
Management team with solid experience in the sector
20

21. Section III
Successful 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
2016 - 2019
1998 - 2010 2011 - 2016 2017 - now
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)
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

23. 23
M&A Recent Transactions 2021 – Summary
Acquisitions in line with the Company's expansion strategy and an important step forward in new markets
Acquisition
Silcom
(Uruguay)
Dajahu
(Ecuador)
Santa Amália
(Brazil)
Seleto brand
(Brazil)
Café Bom Dia
(Brazil)
• Healthy products
• Expansion in the
local market
(Uruguay)
Investment
Thesis
• Entry into the
Ecuadorian Market;
• Leadership position
• Entry into the Pasta
Segment in Brazil
• Leadership in MG
region
• Brand acquisition to
support Camil’s
launch in the Coffee
Segment
Acquisitition
Total Amount
Not Disclosed R$ 220 million¹ R$ 410 million Not Disclosed R$ 63 million
Brands
• Investment in Café
Bom Dia brand and
its operations in
Minas Gerais
Notes:
(1) Considering FX at the time of the announcement
2021

24. Using the strength of the União brand (sugar) to enter the coffee market in 2022
Coffee Business in Brazil
24
União: from commodity to brand – a 15% premium price brand in sugar with 40% market share in refined sugar in Brazil
Coffee Launch: March/2022
Brand portfolio strategy:
• União: main brand
• Café Bom Dia, Seleto: value priced brands
Brands

25. Substantial Growth in Number of
Investors to 41k on Aug.22 from
2.0k Investors on Nov.17
25
2017: Camil’s IPO
Camil successfully completed its Initial Public Offering on September 2017
IPO Highlights Shareholder Structure
Corporate Governance Shareholder’s Profile
R$9.00 / share
Priced on September 26, 2017
41.0 million ONs
Primary Offering
86.5 million ONs
Secondary Offering
R$1.2 billion
Offering Size
R$357.0 million
Net proceeds from Primary Offering
Camil is listed on B3’s
Novo Mercado
segment, the highest
level of corporate
governance
Aug, 2022
Investors
Breakdown
# of
Investors
# ON
(mn)
%
ON
Institutional 104 65 18%
Controlling holders
& Related Parties
5 249 69%
Pension Funds 33 18 5%
Retail/Ind. Holders 40.950 28 8%
Total 41.099 360 100%
55%
45%
% number of
investors
 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)
Treasury Shares
~2%
Controlling
Shareholders
69%
Free
Float
29%
Camil
Investimentos
Other Free
Float
63.8% 5.5% 5.7% 23.2%
Management
and Related
Parties
Free Float 28.9%
Aug, 2022
Treasury
Shares
1.8%
Camil Investimentos represents Quartiero’s family ownership
(does not include individual ownership)

26. Date
26
Share Repurchase Programs
Program #1
5,821,571 ON
% Acquired
100%
R$7.77
Launch
Dec. 2017
Conclusion
Jun. 2018
Treasury
5.8mn ON
Total ON
410mn ON
Program #2
3,565,275 ON
% Acquired
100%
R$7.02
Launch
Apr. 2019
Conclusion
Aug. 2019
30,665,030 ON
from Warburg Pincus
% Acquired
100%
R$6.25
Launch
Nov. 2019 - ESM
Conclusion
Nov. 2019
Number of Shares
Average
Share Price Total shares
Treasury
9.3mn ON
Total ON
410mn ON
Treasury
-
Total ON
370mn ON
Program #5
Launch
Sep. 2020
Conclusion
Mar. 2021
4,000,000 ON
% Acquired
100%
R$11.89
Treasury
4.0mn ON
Total ON
370mn ON
Camil focused on maximizing the company’s capital allocation and generate value to its shareholders
Program #3
(Private Acquisition)
Program #4
Launch
Abr. 2021
Conclusion
Nov. 2021
4,000,000 ON
% Acquired
100%
R$9.83
Treasury
8.0mn ON
Total ON
370mn ON
Program #6
Launch
Nov. 2021
Conclusion
Feb. 2022
2,000,000 ON
% Acquired
100%
R$9.46
Treasury
10mn ON
Total ON
370mn ON
Program #7
Launch
Mar. 2022 10,000,000 ON
% Acquired/price
ongoing
-
Cancelled 10mn ON in treasury.
Total ON
360mn ON

27. 27
Debt Issuances
Emissions 1st CRA (settled) 2nd CRA (settled) 3rd CRA (settled) 4th CRA 9th Debenture 10th Debenture 11th Debenture
Emission Date Dec/2016 Jul/2017 Dec/2017 Apr/2019 Sep/2020 May/2021 Nov/2021
Emission 5th Deb. Issuance 6th Deb. Issuance 7th Deb. (ICVM 476) 8th Deb. Issuance 9th Deb. Issuance 10th Deb. Issuance 11th Deb. Issuance
Securitization
Company
Eco Securitizadora Eco Securitizadora Eco Securitizadora Eco Securitizadora - - -
Total Amount R$402 million R$405 million R$168 million R$600 million R$350 million R$600 million R$650 million
Cost / serie
1st: 99% CDI p.a.
2nd: 100% CDI p.a.
1st: 97% CDI p.a.
2nd: 98% CDI p.a.
Single:
98% CDI p.a.
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.
Amortization
Bullet - Series:
1st: 3 years (Dec/19)
2nd: 4 years (Dec/20)
Bullet - Series:
1st: 3 years (Jul/20)
2nd: 4 years (Jul/21)
Bullet
4 years (Dec/21)
Bullet - Series:
1st: 4 years (Apr/23)
2nd: 6 years (Apr/25)
2 amortizations on
4th year and 5th
year (maturity)
Bullet
3 year maturity
2 amortizations
and 7 year
maturity
Interest Semester Semester Semester Semester Semester Semester Semester
Financial
Covenant
Net Debt/EBITDA LTM
< 3.5x
Net Debt/EBITDA
LTM <3.5x
Net Debt/EBITDA
LTM <3.5x
Net Debt/EBITDA LTM
<3.5x
Net Debt/EBITDA
LTM <3.5x
Net Debt/EBITDA
LTM <3.5x
Net Debt/EBITDA
LTM <3.5x
Liability Management: reduction on cost of debt and amortization profile schedule
2017-2020: liability management with
CRA emissions (stretch amortization
profile + cost reduction)
2020-2022: new debenture issuance to
meet Camil’s new acquisitions; 1st series
green bond for Camil’s ESG project
We continue to work on replacing loans
with less expensive ones and stretch our
amortization profile.
Agribusiness Receivables Certificate (CRA)
Rating
Amortization Schedule
National: brAAA (stable)
Global: BB- (stable)
ESG: (E3; S2; G2)
789 778
499 509
883
346
759
474 493
R$0
R$100
R$200
R$300
R$400
R$500
R$600
R$700
R$800
R$900
R$1,000
2022 2023 2024 2025 2026 After 2026
May-22 May-21

28. Section IV
ESG
28

29. Governance: Councils and Committees
Jairo Quartiero
(Chairman)
Rodrigo
Colmonero
(NEO Investimentos)
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
Board of Directors
Camil is listed in Novo Mercado, B3’s highest standard of Corporate Governance
Councils and Financial Committees People/ESG Committees
 2-year term, re-election allowed
67% of members are independent directors
Current terms end in June/2024
Fiscal Council
Formed by 6 members, 3 effective and 3
alternates.
 Term of one year, and current terms also end in
June/2023
Audit Committee
Responsible for accounting, internal controls,
financial reports, auditing and compliance matters
Formed by 3 effective members
Finance, Investments and Risk Committee
Responsible for analysis of results, investment
plan, financing plan, capital structure, liquidity
and cash flow
Formed by 3 effective members
Strategy, Innovation, Brands and Market
Committee
Formed by 3 effective members
 Term of one year, and current terms also end in
June/2024
Personnel Management Committee
Responsible for analyzing and implementing
different policies, practices, strategies and
structures related to the development and
management of people, as well as opportunities and
risks to which the Company is exposed
Formed by 4 effective members
ESG and Ethics Committee
Responsible for supporting the Board of Directors
on ESG issues, they also analyze issues brought up
by the working groups
Formed by 3 effective members (1 independent
member)
ESG Internal Committee
Responsible for discussing ESG strategy and
monitor the working groups goals
Formed by 3 executive directors (including CEO)
29
Piero
Minardi
(Warburg Pincus)
Sandra Aymoré
(Former CMO at Rappi,
OLX and Electrolux)
Cláudia Soares
(Former Board
Member at Arezzo
&Co, Totvs, IBGC,
Roldão)

30. 5-year strategic planning
now also carries out ESG
practices
Variable remuneration linked to
ESG goals
Impact and differentiation to the
business model, people and
environment
Recipe:
Commitment to
mitigate E&S risks the
Company’s business
and strategy
Preparation Method:
governance that
encourages the creation
of mechanisms for ESG
practices
Ingredients:
Integration of
environmental, social
and governance
aspects, nurturing
Camil's ESG
commitment
ESG commitment: 1Y
goals and 5Y agenda
for Camil
8 working groups in ESG
(material themes)
Multidisciplinary teams (+60
people), distributed in the 5
countries where Camil operates
Quarterly meetings to evaluate
and improve ESG themes
Created in January, 2021
Support to the Board of
Directors on social,
environmental, integrity and
governance matters
Formed by 3 members
(1 independent member)
Support to ESG and Ethics
Committee
Formed by 4 directors, for
monitoring the working groups to
implement goals and adherent
practices
ESG and
Ethics
Committee
Internal
ESG
Committee
Working
Groups
1Y and 5Y
ESG Goals
Integration of best practices into the business management and development strategy, focused in sustainable growth
ESG Governance
30

31. 31
 -33% de acidentes com
afastamento:
-51% Brasil e -23% Latam
 Mais de 50% plantas Brasil com
Zero acidentes com afastamento no ano
 Projeto Doce Futuro União: 3 mil
alunos; foco em geração de renda
 Projeto Escola Camil em Itaqui:
formação mão-de-obra qualificada
 Grupo de Trabalho Diversidade,
Inclusão e Equidade LatAm
 1º Censo de Diversidade e
Inclusão
Governança & Transparência
 Comitê de ESG e Ética com reporte
ao Conselho de Administração
 Metas ESG para todos os Diretores
da Camil a nível LatAm
 Consulta a Stakeholders: +3 mil
engajados a nível Latam para nova
Matriz de Materialidade
 Novo Relatório: Metodologias GRI,
SASB e princípios do Pacto Global da
ONU (+ODS), Fórum Econômico
Mundial e TCFD
 Adesão ao Pacto Global e
alinhamento das ações aos ODS
Energia & Qualidade
 96% da energia do Brasil de fontes
renováveis
 + 40% Casca do Arroz usada para
geração própria de energia
 Projeto da nova termoelétrica:
capacidade de uso de até 100% de
casca Brasil de Cambaí
 Debênture verde
R$150MM
 Uruguai: Participação de 45% em
usina de geração de energia (casca)
 18% de redução no Brasil em SAC de
Qualidade
 6% de melhora em BPF - Boas
Práticas de Fabricação no Brasil
Segurança & Investimentos Sociais:
Governança Social
Ambiental
Todas as ações ESG
alinhadas aos
Pilares Estratégicos
Propósito e
Pessoas
Qualidade e
Vendas
Eficiência e
Crescimento
Destaques ESG

32. 32
E&S Highlights
Environmental
 New Project: construction of a new thermoelectric plant
focused on self-sufficiency Renewable Energy generation
 2021: 95% of the Renewable Energy used in our plants in
Brazil comes from renewable sources, 40% of which is
produced by us from biomass in Small Thermoelectric Plants
already owned by Camil;
 Reduction in the consumption of Megawatt per ton by 8% on
2021, increasing the energy efficiency of its plants and
factories
 Reverse Logistics, in compliance with the National Solid
Waste Policy (PNRS) and other state waste policies
 In 2021, 2.6 thousand tons of steel, 1.9 tons of plastic and
685 tons of paper and cardboard were recycled.
 Several projects focused on new packaging reduction and
waste generation
 ~400k ton food donated during Covid-19 crisis + donation
of health equipment and products in municipalities we
operate
 Donations of Products close to Maturity to Banco de
Alimentos
 Several donation campaigns, including AACD volunteer
campaign among employees for direct salary donation
 Entrepreneurs of the Favela (Makro Atacadista) and other
projects
 Internationally recognized quality systems and certifications
Highlights: FSMA, SIF Seal, Food Safety System Certification
(FSSC) – Camaquã, Global Markets Program, Kosher Supplier,
Good Practices of Manufacturing (GPM); International: British
Retail Consortium (BRC), Cotrisa Seal, Hazard Analysis and
Critical Control Points (HACCP)
Renewable Energy
Waste Management
Food Quality and Safety
Social
 Financing Program for Smaller Producers (education,
assistance with agronomists and monitoring): Aimed at
small and medium-sized suppliers, the program's objective
is to raise the standard of the food produced, as well as to
economically support and develop agricultural producers in
the regions which Camil operates.
 Series of measures to ensure employees safety and health,
including the creation of a health and work safety working
group
 Diagnosis of Diversity and Inclusion and D&I work group
creation
 Camil Vida Saudável (Camil Healthy Life Program)
 União: Doce Futuro
 Other União Campaigns: Gastromotiva and União Amigo
Secreto
 Product Portfolio and Communication focused on Health and
Education for Healthy Eating on Social Media
Community Relations
Suppliers
People
Campaigns

33. 33
E&S Highlights
For the second year in a row, we published our Sustainability report
(July/2022) focused on GRI, SASB, TCFD, Agenda 2030 (UN) methodology
To learn more about our sustainable initiatives, check our report. We have set
out our performance and progress on enviromental, ethics and community.
Global Compact
Signatory

34. Section V
Financial and Operational Highlights
Historical and 4Q21

35. 400 401 414
443
494
525
583
538
556
600 596
630
743 750
807
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
0.0
1.0
2.0
3.0
4.0
5.0
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
Feb-19 Aug-19 Feb-20 Aug-20 Feb-21 Aug-21 Feb-22
Camil
(R$/kg)
Esalq
Senar
(R$/50kg)
Brazil - Rice Price Camil - Gross Price
0
50,000
100,000
150,000
200,000
250,000
4Q08 4Q09 4Q10 4Q11 4Q12 4Q13 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21
35
Notes:
(1) Nielsen Retail Index for Rice (INA+C&C); (2) CEPEA; rice indicator Esalq/Senar-RS 50kg
2
Camil Historical Annual Volume (k ton)
Brazil Food Segment | Rice
Substantial Historical Growth in a Fragmented Industry: Consolidation Opportunity
CAGR 07-21’: +4.8%
•Wide and
fragmented market
•High industry
consolidation
opportunity
•Stable consumption
Industry
Market Prices vs. Camil Gross Prices (%) Camil Historical Quarterly Volume (k ton)
Industry Highlights¹
Through Organic and
Inorganic Growth, Camil
is an Undisputed Market
Leader in Rice Brazil
IV III
II
I
V
42%
20%
3%
14%
18%
11%
6%
19%
22%
16%
VII
3% 12%
VI
6% 13%
% rice market share² - Camil
% rice consumption by region
market share in
São Paulo City
Active price dynamics
with weekly price pass-
through to customers
Brazil – RICE
#1 14%
#2 Player 2 6%
#3 Player 3 3%
Organic grains growth by year
~4-5% in volumes since 2008

36. 0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
4Q08 4Q09 4Q10 4Q11 4Q12 4Q13 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21
53
60 62
66
62
74
68 69
76
72
80
92 94
116
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
-
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
0
50
100
150
200
250
300
350
400
Feb-19 Aug-19 Feb-20 Aug-20 Feb-21 Aug-21 Feb-22
Camil
(R$/kg)
Agrolink
(R$/60kg)
Brazil - Beans Price Camil - Gross Price
Camil Historical Annual Volume (k ton)
36
Brazil Food Segment | Beans
Substantial Historical Growth in a Fragmented Industry: Consolidation Opportunity
•Wide and
fragmented market
•High industry
consolidation
opportunity
•High Price Volatility
(3 crops/year)
Industry
Market Share
#1 Player 1 14%
#2 9%
#3 Player 3 3%
2
Market Prices vs. Camil Gross Prices (%) Camil Historical Quarterly Volume (k ton)
Industry Highlights¹
Active price dynamics with weekly
price pass-through to customers
Wide and fragmented
market with High Growth
Opportunity
CAGR 08-21’: +5.7%
Notes:
(1) Nielsen Scantrack Index for Beans (AS+C&C); (2) Agrolink; beans indicator Sc 60kg
IV III
II
I
V
22%
6%
1%
2%
13%
15%
11%
14%
24%
17%
VII
2% 7%
VI
6% 10%
% beans market share² - Camil
% beans consumption by region
Organic grains growth by year
~4-5% in volumes since 2008

37. 591
545 553 541 526 516
556 557
0
100,000
200,000
300,000
400,000
500,000
600,000
2014 2015 2016 2017 2018 2019 2020 2021
0
50,000
100,000
150,000
200,000
250,000
4Q12 4Q13 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21
Camil Historical Annual Volume (k ton)
37
Brazil Food Segment | Sugar
Iconic Brand Recognition in a Resilient and Consolidated Industry
CAGR-0.7%
•Consolidated industry
•Concentrated on one
supplier – long term
contract, take-or-pay
•Vertically integrated
competitors
Industry
Market Share
#1 41%
#2 Player 2 25%
#3 Player 3 10%
2
Market Prices vs. Camil Gross Prices (%) Camil Historical Quarterly Volume (k ton)
Industry Highlights¹
Active price dynamics with weekly
price pass-through to customers
Undisputed Market
Leader in a resilient and
consolidated industry
115
100
+15%
Main Competitor
 Higher prices compared to the
main competitors
Sugar premium price
Notes:
(1) Nielsen Retail Index for Sugar (INA+C&C 1kg – represents ~90% of refined market); (2) CEPEA; Cristal Sugar indicator Esalq-SP 50kg.
Camil is focused on
maintaining União’s
leadership ad premium prices
-
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
0
20
40
60
80
100
120
140
160
180
200
Feb-19 Aug-19 Feb-20 Aug-20 Feb-21 Aug-21 Feb-22
Camil
(R$/kg)
Esalq
CEPEA
SP
(R$/50kg)
Brazil - Sugar Price Camil - Gross Price

38. 32
37
40
36 35
39
37
33
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
2014 2015 2016 2017 2018 2019 2020 2021
Camil Historical Annual Volume (k ton)
38
Brazil Food Segment | Canned Fish
Very Consolidated Industry with Opportunity of Consumption Growth
•Very Consolidated
industry
•Industry Consumption
Growth
Industry
Market Prices vs. Camil Gross Prices (%) Camil Historical Quarterly Volume (k ton)
Industry Highlights¹
Active price dynamics – increases
may impact protein consumption
Market Share
#1 Player 1 41%
#2 40%
Market Share
#1 Player 1 54%
#2 23%
Tuna
Sardine
 Trend of healthier consumption habits
switching other proteins for fish
Seasonality during
pre-lent period
CAGR+0.1%
Notes:
(1) Euromonitor; Nielsen Retail Index for Sardine and Tuna (INA+C&C)
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
4Q12 4Q13 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21
-
5
10
15
20
25
30
35
Feb-19 Aug-19 Feb-20 Aug-20 Feb-21 Aug-21 Feb-22
Camil - Gross Price

39. 289
530 548
458 461
505
443
2015 2016 2017 2018 2019 2020 2021
78 72 76 79 84 83 89
2015 2016 2017 2018 2019 2020 2021
Leadership Positions in Several of the Most Attractive Countries in Latin America
International Food Segment | LatAm Branded Platform
Uruguai
Industry
Restricted domestic market
Export Market
~90% of rice produced in Uruguay is exported
Uruguayan rice presents a price premium when facing it’s
main competitors
#1 48%¹
Market Share
CAGR+6.3%
Chile
Industry
Mature Market with great retail store chains
Solid brand recognition and wide market share
Supply dependent of imports (~50%)
#1 33%²
Market Share
4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21
Chile
11%
Uruguay
74%
CAGR+1.9%
39
Volume
in
k
ton
Volume
in
k
ton
Volume
in
k
ton
Volume
in
k
ton

40. 94 86 94 84 89 90
66
2015 2016 2017 2018 2019 2020 2021
Leadership Positions in Several of the Most Attractive Countries in Latin America
International Food Segment | LatAm Branded Platform
Industry
Great growth potential referring to the migration from bulk
to packaged commercialization
Costeño is prepared to absorb this change rapidly
(leader brands, agile supply)
Wide and fragmented domestic market
CAGR-4.9%
Peru #1 37%³
Market Share
4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21
New Business
International:
Equador – Dajahu
Leader in aged rice:
20% market share
Equador
7%
Quarterly Volume
Breakdown
Uruguay – Silcom (La Abundancia)
Entry in the Healthy Goods market in
Uruguay – local market
+5.5k clients and
expansion
Peru
8%
Volume: 13k tons in 4Q21
40

41. 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%
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%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Retail Sales Total GDP
1.513
1.313 1.407
1.784
2.776
3.582
2.601 2.935
3.683
3.331 3.346
3.915
5.354
6.726
1.075
1.294
1.265
1.332 1.403
1.481
2.112
2.290
-13,2%
7,1%
26,8%
55,6%
29,0%
2,6%
15,0% 17,0%
-5,8% 1,8%
13,6%
38,4% 53,1%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
International Brazil Growth
3,676
4,229
4,948
4,663 4,749
5,396
7,466
9,016
538 556 600 596 630 743 750 807
68 69 76 72 80
92 94
116
591 545 553 541 526
516 552
557
32 37 40 36 35
39 37
33
534 586
706 732 630
634
687 627
26
4,2% 6,6% 11,8%
50,9% 52,7%
35,5%
1,7% 10,2% 0,2% -3,9% 6,5% 4,3% 2,6%
0
500.000
1.000.000
1.500.000
2.000.000
2.500.000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Pasta International Fish Sugar Beans Rice Growth
852
2,024
1,901
1,978
1,974
1,792
1,762
1,300
564
505
473
454
2,115
2,165
169
123 142
209
315
375 361
423
547
490 483
442
787 810
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%
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%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
EBITDA Gross Margin EBITDA Margin
For over 15 years, Camil has posted solid operational and profitable results, even with a slowdown in the Brazilian economy
41
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)
During 2015-16, Brazil GDP decreased
7.2% - returning to pre-2010 levels
Brazil: GDP and Retail Sales¹ (% growth, real terms)
CAGR2008A-2021 11.8%
CAGR2008A-2021 11,8%
CAGR2008A-2021 13.6%

42. 605
432
756
818
19
650
82
443
324
650
22 0
R$0
R$100
R$200
R$300
R$400
R$500
R$600
R$700
R$800
R$900
2023 2024 2025 2026 2027 Depois de
2028
fev-22 fev-21
Indebtedness Profile
Source: Company and Bloomberg
Amortization Schedule Camil Credit Rating
Indebtedness Evolution (R$mn, x)
Strong capital discipline coupled with continuous liability management allow a healthy indebtedness profile
2.0x
Net Debt /
EBITDA LTM
4Q21
Quarterly seasonality due to working capital seasonality; greater cash release in 4Q
S&P latest update in August/2022
42
986
1.149
1.330
998 1.003
1.260
1.170
1.014
1.074
1.215
744
571 604
829
925
1.032 1.057
1.273
1.566
1.033
1.196
1.327 1.303
1.080 1.124
1.196
1.690 1.634
2,7 x
3,1 x
3,4 x
2,4 x 2,2 x
2,4 x
2,1 x
1,9 x 2,0 x
2,5 x
1,6 x
1,2 x
1,4 x
1,8 x 1,9 x
2,1 x 2,2 x
2,9 x
3,7 x
2,3 x
2,2 x
2,0 x
1,7 x
1,4 x 1,5 x 1,6 x
2,3 x
2,0 x
3,5 x
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21
Dívida Líquida Div. Líq. / EBITDA UDM Covenant

43. Appendix
Selected Comparable Companies

44. Source: Company Filings
(1) Calculated based on the debt amortization schedule for each company 44
Selected Comparable Companies
(Figures in R$ mm1)
Brazil LatAm (ex-Brazil)
1
Camil Minerva BRF JBS Marfrig M. Dias Bran. Bimbo Gruma Herdez Lala Nutresa
Ratings (Fitch/Moody´s/S&P) NA /NA /BB- AA+ /Ba3 /BB- BB /Ba2 /BB BB+ /Ba1 /BB- BB /Ba2 /BB+ AAA /NA / NA BBB /Baa2 /BBB AAA /WR /BBB AA- /NA /AA- NA /NA /NA NA /NA /NA
Ticker B3: CAML3 B3: BEEF3 B3: BRFS3 B3: JBSS3 B3: MRFG3 B3: MDIA3 BMV: BIMBOA BMV: GRUMAB BMV: HERDEZ BMV: LALAB BVC: NCH
Market Capitalization $3.330 $6.437 $24.377 $84.178 $15.700 $8.641 $886.328 $22.417 $4.013 $11.683 $20.416
EV/EBITDA 6,88x 5,11x 7,50x 3,36x 2,59x 12,84x 68,02x 7,22x 5,95x 8,15x 15,14x
LTMPeriod Feb-22 Dec-21 Dec-21 Dec-21 Dec-21 Dec-21 Dec-21 Dec-21 Dec-21 Dec-21 Dec-21
Consolidated Figures
Financials:
Revenues $9.016 $26.965 $48.343 $350.696 $85.389 $7.814 $94.832 $25.618 $7.109 $22.273 $14.912
Adjusted EBITDA 721 2.413 5.559 45.662 14.544 684 13.367 4.074 1.072 2.275 $1.604
Adj. EBITDA Margin 8,0% 9,0% 11,5% 13,0% 17,0% 8,8% 14,1% 15,9% 15,1% 10,2% 10,8%
Net Interest Expense $128 $1.014 $2.470 $7.382 $3.709 $300 $2.180 $448 $194 $636 $344
Operating Cash Flow $463 $2.595 $2.798 $10.300 $9.034 $408 $4.725 $1.670 $565 $350 $648
Capex $1.092 $568 $3.681 $9.624 $2.304 $208 $5.627 $78 $181 $552 $432
Balance Sheet:
Cash & Equivalents $1.630 $7.302 $7.528 $23.239 $8.400 $1.556 $2.378 $1.426 $602 $1.162 $1.010
Total Debt 3.264 13.405 25.825 92.519 30.326 1.768 25.239 8.433 2.973 8.026 $4.879
Net Debt 1.634 5.903 17.332 69.279 21.926 140 22.862 7.006 2.370 6.864 3.869
Credit Ratios
Total Debt/EBITDA 4,52x 5,55x 4,65x 2,03x 2,09x 2,58x 1,89x 2,07x 2,77x 3,53x 3,04x
Net Debt / EBITDA 2,3 2,4 3,1 1,5 1,5 0,2 1,7 1,7 2,2 3,0 2,4
Net Debt / (EBITDA-CAPEX) -4,4 3,2 9,2 1,9 1,8 0,3 3,0 1,8 2,7 4,0 3,3
EBITDA / Net Interest Expense 5,7 2,4 2,3 6,2 3,9 2,3 6,1 9,1 5,5 3,6 4,7
(EBITDA-CAPEX) / Net Interest Expense -2,9 1,8 0,8 4,9 3,3 1,6 3,6 8,9 4,6 2,7 3,4
EBITDA / Operational Cash Flow 1,6 0,9 2,0 4,4 1,6 1,7 2,8 2,4 1,9 6,5 2,5
Debt Duration (years) 3,0 5,8 9,0 8,1 5,8 - 16,4 - - - -

45. Investor Relations
E-mail: ri@camil.com.br
ri.camilalimentos.com.br