Slides
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2Q25 Earnings Presentation
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2Q25 HIGH GROWTHHIGH TURNOVER Sugar Grains - Brazil International Grains - Brazil Pasta R$3.0 billion Net Revenue (-8.6% YoY & 10.9% QoQ) R$251 million EBITDA (-12.9% YoY & +7.5% QoQ) 8.4% EBITDA Margin (-0.4pp YoY & -0.3pp QoQ) 634 k tons Volume (+6.8% YoY & +24.9% QoQ) High Turnover Brazil: -1.5% YoY & +20.4% QoQ High Growth Brazil: -6.0% YoY & -4.0% QoQ International: +26.0% YoY & +40.9% QoQ Fish Cookies Coffee 2
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Brazil | High Turnover Highlights 2Q25 Net Price Camil: R$3.54/kg; -27.8% YoY and -10.8% QoQ in 2Q25 Average price of raw material: Rice: R$67.87/bag; -41.4% YoY & -12.1% QoQ in 2Q25 Beans: R$213.93/bag; -10.2% YoY & -6.5% QoQ in 2Q25 Sugar: R$121.38/bag; -8.8% YoY & -13.2% QoQ in 2Q25 High Turnover: Grains and Sugar in Brazil Sales Volumes: 352 k tons; -1.5% YoY and +20.4% QoQ in 2Q25 Volumes vs. Net Price Evolution Volumes Net Price (R$/Kg) -1.5% Volume YoY 2Q25 ¹Source: CEPEA; Esalq/Senar-RS 50kg paddy rice indicator; Agrolink; Sc 60kg carioca bean indicator; CEPEA; Esalq-SP 50kg crystal sugar indicator.. Main Brands 3 +20.4% Volume QoQ -27.8% Net Price YoY -10.8% Net Price QoQ Net Revenue (%) Volume (%) 56%42% 338 381 360 264 339 358 264 339 358 338 267 293 352 3.89 3.88 4.26 5.04 4.53 4.90 5.04 4.53 4.90 4.26 4.48 3.96 3.54 -0.50 0.5 0 1.5 0 2.5 0 3.5 0 4.5 0 5.5 0 -50 50 150 250 350 450 550 650 750 850 950 1Q23 2Q23 3Q23 4Q23 1Q24 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Volume Net Price
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Brazil | High Growth Highlights 2Q25 Net Price Camil: : R$15.6/kg; +19.6% YoY & +11.9% QoQ in 2Q25 High Growth: Pasta, Cookies, Coffe and Canned Fish in Brazil: Sales Volumes: 45.2 thousands tons; -6.0 % YoY & -4.0% QoQ in 2Q25 Volume vs Net Price Evolution Volumes Net Price (R$/Kg) -6.0% Volume YoY 2Q25 Average Price of Raw Material: Wheat: R$1,460.40/bag; +4.4% YoY & +4.0% QoQ in 2Q25 Coffee: R$1,962.25/bag; +40.0% YoY & -22.0% QoQ in 2Q25 Note: CEPEA; Esalq/Senar-PR Wheat Indicator; CEPEA Esalq; Arabica Coffee Indicator. Main Brands 4 -4.0% Volume QoQ cookies +19.6% Net Price YoY +11.9% Net Price QoQ Net Revenue (%) Volume (%) 25% 7% 46 44 41 43 49 48 43 49 48 46 51 47 45 11.80 12.19 12.66 15.09 11.81 13.06 15.09 11.81 13.06 12.64 18.40 13.96 15.62 -19.00 -14.00 -9.00 -4.00 1.0 0 6.0 0 11. 00 16. 00 21. 00 0 10 20 30 40 50 60 70 80 90 100 1Q23 2Q23 3Q23 4Q23 1Q24 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Volume Net Price
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International Highlights 2Q25 Net Price: R$3.86/kg; -30.7% YoY and -14.1% QoQ and 2Q25 International: Uruguay, Chile, Peru & Ecuador Sales Volumes: 236.8 k tons; +26.0% YoY and +40.9% QoQ in 2Q25 Volumes vs. Net Price Evolution Volumes Net Price (R$/Kg) +26.0% Volume YoY 2Q25 Main Brands 5 +40.9% Volume QoQ -30.7% Net Price YoY -14.1% Net Price QoQ Net Revenue (%) Volume (%) 32% 37% Conclusion of the acquisition of Villa Oliva in Paraguay.* *Acquisition completed in 3Q25, on September 1, 2025. 164 205 179 128 135 188 128 135 188 156 141 168 237 4.24 3.95 5.40 5.56 5.54 4.81 5.56 5.54 4.81 5.82 6.50 4.49 3.86 0.0 0 1.0 0 2.0 0 3.0 0 4.0 0 5.0 0 6.0 0 7.0 0 0 100 200 300 400 500 600 700 1Q23 2Q23 3Q23 4Q23 1Q24 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Volume Net Price
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Financial Highlights | 2Q24 vs. 2Q25 Net Revenue -8.6% COGS -10.0% SG&A +2.0pp Gross Profit -3.5% EBITDA -12.9% Net Profit/Loss Margins (% Net Revenue) 21.4% 22.6% 8.8% 8.4% 3.6% 2.6% Net Revenue: R$3.0 billion (-8.6% YoY) in 2Q25 Gross Profit: R$673.8 million (-3.5% YoY) and 22.6% margin in 2Q25 EBITDA: R$250.6 million (-12.9% YoY) and 8.4% margin in 2Q25 6 % Net Revenue -33.7% 3,262 2,980 2Q24 2Q25 2,563 2,306 2Q24 2Q25 14.7% 16.7% 2Q24 2Q25 698 674 2Q24 2Q25 288 251 2Q24 2Q25 119 79 2Q24 2Q25
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606 674 1Q25 2Q25 233 251 1Q25 2Q25 Financial Highlights | 1Q25 vs. 2Q25 Net Revenue +10.9% COGS +10.8% SG&A +0.2.p.p Gross Profit +11.2% EBITDA +7.5% Net Profit/Loss Margins (% Net Revenue) 22.6% 22.6% 8.7% 8.4% 7 % Receita Líquida Net Revenue: R$3.0 billion (+10.9% QoQ) in 2Q25 Gross Profit: R$673.8 million (+11.2% QoQ) and 22.6% margin in 2Q25 EBITDA: R$250.6 million (+7.5% QoQ) and 8.4% margin in 2Q25 2.5% 2.6% 2,687 2,980 1Q25 2Q25 2,081 2,306 1Q25 2Q25 16.5% 16.7% 1Q25 2Q25 66 79 1Q25 2Q25 +19.3%
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Capex expenditures of R$ 155 million, allocated to the new grain facility in Cambaí (RS) and to the new termal power plant, and due to a more concentrated phasing, in this quarter, of the investments scheduled for the year in Uruguay. Debt, Capex & Working Capital Debt Working Capital 8 Net Debt/ EBITDA LTM Capex (R$mn) Camil has seasonality in working capital for rice: the first quarters of the year normally show an increase in working capital and the fourth quarter usually shows a release. National: BrAA+ (stable) 84 3,607 4,084 2,691 3,615 3,466 3.5x 4.2x 3.0x 4.1x 4.1x 0 1,0 00 2,0 00 3,0 00 4,0 00 5,0 00 6,0 00 7,0 00 8,0 00 2Q24 3Q24 4Q24 1Q25 2Q25 Net Debt Net Debt/EBITDA LTM (x) Debt (in R$mn) 2Q24 1Q25 2Q25 2Q25 2Q25 Closing Date Aug-24 May-25 Aug-25 VS 2Q24 VS 1Q25 Total Debt 6,269.3 5,240.9 5,376.1 -14.2% 2.6% Loans and Financing 2,942.7 2,397.0 2,509.2 -14.7% 4.7% Debêntures 3,326.6 2,843.9 2,866.9 -13.8% 0.8% Short Term 2,047.9 2,393.8 2,427.3 18.5% 1.4% Long Term 4,221.4 2,847.1 2,948.8 -30.1% 3.6% Leverage Gross Debt 6,269.3 5,240.9 5,376.1 -14.2% 2.6% Cash and Equivalents 2,662.8 1,625.6 1,910.6 -28.2% 17.5% Net Debt 3,606.5 3,615.4 3,465.5 -3.9% -4.1% Net Debt/EBITDA LTM 3.5x 4.1x 4.1x 0.6x 0.0x Working Capital 2Q24 1Q25 2Q25 2Q25 2Q25 Closing Date Aug-24 May-25 Aug-25 VS 2Q24 VS 1Q25 Inventory 2,450.5 2,772.4 2,261.3 -7.7% -18.4% Advance to Suppliers 562.0 650.3 414.0 -26.3% -36.3% Receivable 1,746.8 1,850.2 1,444.5 -17.3% -21.9% Suppliers 1,151.8 2,291.1 1,370.0 18.9% -40.2% Other Current Assets 296.0 360.5 400.3 35.2% 11.0% Other Current Liabilities 430.6 379.6 421.2 -2.2% 11.0% Working Capital 3,473.0 2,962.7 2,728.9 -21.4% -7.9% Days Working Capital 107 d 90 d 85 d -22 d -5 d 12066 284 122 84 155 2.0% 2.7% 4.1% 4.5% 5.2% 0 100 200 300 400 500 600 2Q24 3Q24 4Q24 1Q25 2Q25 Capex Capex (% Revenue ex M&A)
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• Sustainability Report Details of initiativies across all categories and countries, the report follows the guidelines of the Global Reporting Initiative (GRI) and the Sustainability accouting Standards Board (SASB), aligned with the UM Sustainable Development Goals. Materiality update through engagement with key stakeholders in Brazil, Uruguay, Chile, Peru and Ecuador. • Governance We highlight, as a subsequent event, the publication of the Brazilian Corporate Governance Report, which showcases the good practices adopted by companies under the CBGC’s ‘comply or explain’ model. Purpose and People Quality and Sales All ESG Actions are aligned with the Strategic Pilares: Efficiency and Growth • Social New classes and strengthening of the Grãos da Base Business School, with the Camil brand and Doce Futuro, with the União brand – both based on proprietary methodology that trains small entrepreneurs and local business in managment with a focus on profitability and Sustainability. • Environment Highlighting the Generation of energy from rice husks, transforming by-product waste from our production process into renewable energy, strengthening the pilar of circular economy, reduction of waste generation and clean energy. Alimentando nossa Transformação em ESG 9
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Q&A Luciano Quartiero – CEO Flavio Vargas – CFO Investor Relations Jenifer Nicolini – IR and ESG Executive Manager Flavio Rios – IR and ESG Coordinator Marco Correia – IR Analyst ri@camil.com.br