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Marfrig Earnings Release | 1Q21 São Paulo , May 11 , 2021 - Marfrig Global Foods S.A. - Marfrig ( B3 Novo Mercado : MRFG3 and Level 1 ADR : MRTTY ) announces today its results for the first quarter of 2021 ( 1Q21 ) . Except where stated otherwise , the following operating and financial information is presented in nominal Brazilian real , in accordance with International Financial Reporting Standards ( IFRS ) , and should be read together with the financial statements and the respective notes for the period ended March 31 , 2021 filed at the Securities and Exchange Commission of Brazil ( CVM ) . Consolidated 1Q21 Highlights Net Revenue of R $ 17.2 billion ( + 27.7 % vs. 1Q20 ) Adj . EBITDA of R $ 1.7 billion ( + 39.7 % vs. 1Q20 ) • ○ ° • Adj . EBITDA Margin of 9.9 % ( +80 bps vs. 1Q20 ) • Base Date : May 10 , 2021 Net Income of R $ 279 million ( vs. R $ 137 million loss in 1Q20 ) Market Cap : R $ 14.4 billion Stock Price : Operating Highlights MRFG3 R $ 20,22 Shares Issued : 711,369,913 shares NORTH AMERICA OPERATION • Net Revenue of US $ 2.3 billion ( + 5.9 % vs. 1Q20 ) Adj . EBITDA of US $ 277 million ( + 58.4 % vs. 1Q20 ) • Adj . EBITDA Margin of 12.0 % ( +400 bps vs. 1Q20 ) Conference Call in English Wednesday - May 12 , 2021 Hour : 10 a.m. ( NY - US ) Dial - in : TF : +1 844 204 8942 DI : +1 412 717 9627 Code : Marfrig www.marfrig.com.br | ri SOUTH AMERICA OPERATION • Net Revenue of R $ 4.6 billion ( + 21.4 % vs. 1Q20 ) • Adj . EBITDA of R $ 211 million ( -54.6 % vs. 1Q20 ) Adj . EBITDA Margin of 4.6 % ( -770 bps vs. 1Q20 ) Financial Highlights • After conclusion of Liability Management operation : . Average Debt Cost of 4.66 % p.a. ( vs. 5.70 % in 4Q20 ) • Average Payment Term of 5.1 years ( vs. 3.5 years in 4Q20 ) IR Contacts ་ ་ Eduardo Puzziello Stephan Szolimowski Vinícius Saldanha +55 ( 11 ) 3792-8907 ri@marfrig.com.br • Financial leverage ( Net Debt / Adj . EBITDA LTM ) of 1.76x in Brazilian real and 1.68x in U.S. dollar Other Highlights • Further Processing : Segment accounted for around 16 % of the South America Operation's Net Revenue in 1Q21 , compared to 11 % in 1Q20 . • Operating Efficiency Program : Capture of R $ 80.8 million in 1Q21 . Dividends : Approved by ESM on April 8 and payment of R $ 0.20 / share on April 30 , 2021 . • Share Repurchase Program : Up to 9.5 million shares , or 2.8 % of free - float shares as of March 9 , 2021 . • Sustainability : Advanced in the Marfrig Verde + Program 1 ° Q | Marfrig is the world's highest rated company in the industry . PlantPlus Foods : Creation of senior management team and appointment of John Pinto as CEO in March 2021 . 1