Syndicate of international placement agents complete BRL 3.0 billion primary and secondary offering of Common Shares by Marfrig

Client(s) Santander Investment Securities Inc.; Bradesco Securities, Inc.; J.P. Morgan Securities LLC; Banco do Brasil Securities LLC; and Jefferies LLC

Jones Day advised Santander Investment Securities Inc.; Bradesco Securities, Inc.; J.P. Morgan Securities LLC; Banco do Brasil Securities LLC; and Jefferies LLC, as international placement agents, in connection with a BRL 3.0 billion (US$720 million) international offering of 299,738,518 Common Shares of Marfrig Global Foods S.A. (“Marfrig”), represented by a primary offering of 90,090,091 Common Shares by Marfrig and a secondary offering of 209,648,427 Common Shares by BNDES Participações S.A. – BNDESPAR, as the selling shareholder. This transaction is expected to be the first of a series of significant divestments from Brazilian state-owned development bank BNDES.

The total gross proceeds from the offering were approximately BRL $3.0 billion (US$720 million). The primary offering generated net proceeds of approximately BRL$890 million (US$215 million), and the secondary offering generated net proceeds of approximately BRL $2.1 billion (USD$500 million). Marfrig will use the net proceeds from the primary offering to pre-pay certain debt. Marfrig did not receive any proceeds from the secondary offering.