Context

Minerva has 25 industrial slaughter and deboning units and three processing units in South America, distributed between Brazil, Argentina, Colombia, Paraguay and Uruguay, with a slaughter capacity of 26,180 head of cattle per day. At the end of 2021, the Company acquired two sheep slaughter units on the west coast of Australia, which have a slaughter capacity of 2,740 heads per day and will start reporting their production data in 2022.

Context

Minerva Foods’ performance for 2021, with 70% of its consolidated gross revenue coming from exports, ratifies the solidity of the international beef market, which continues to be very dynamic and with great opportunities for exporters based in South America. The sharp imbalance between supply and demand continues to provide opportunities for the Company, especially in Asia and the Middle East, but also in premium markets such as the United States, which has seen its share expand to almost 10% of our consolidated exports. In addition, South America, with its array of grass-fed cattle production, continues to increase its competitiveness in a global environment marked by pressure on production costs and distribution of animal protein. Thus, Minerva Foods’ geographic diversification strategy maximizes the Company’s commercial performance, providing access to 100% of global demand for beef and reducing the impact of unexpected, temporary hurdles, as occurred at the end of 2021 with the Chinese restriction on Brazilian beef. Redirecting this demand to our plants in Uruguay and Argentina reinforces the benefits generated by the geographical diversification strategy.

Context

Minerva Foods’ performance for 2021, with 70% of its consolidated gross revenue coming from exports, ratifies the solidity of the international beef market, which continues to be very dynamic and with great opportunities for exporters based in South America. The sharp imbalance between supply and demand continues to provide opportunities for the Company, especially in Asia and the Middle East, but also in premium markets such as the United States, which has seen its share expand to almost 10% of our consolidated exports. In addition, South America, with its array of grass-fed cattle production, continues to increase its competitiveness in a global environment marked by pressure on production costs and distribution of animal protein. Thus, Minerva Foods’ geographic diversification strategy maximizes the Company’s commercial performance, providing access to 100% of global demand for beef and reducing the impact of unexpected, temporary hurdles, as occurred at the end of 2021 with the Chinese restriction on Brazilian beef. Redirecting this demand to our plants in Uruguay and Argentina reinforces the benefits generated by the geographical diversification strategy.