1. AnnuAl RepoRt 2008
theRe is one thing thAt is devAstAting when lAcking
but, if developed And encouRAged, hAs the potentiAl
of bReeding unpRecedented success in All dimensions
of life. this thing is tRust.
“no chAin cAn be stRongeR thAn its weAkest link. ”
Jbs suppoRts the sustAinAble development of the livestock chAin.

2. indicAtoRs
net profit . R$ million ebitdA . R$ million consolidated gross
profit . R$ million
1,156.1 31,106
158
25
-165 602
547.8 14,727
4,749
06 07 08 06 07 08 06 07 08
total Assets . R$ million cash flow final net debt/ebitdA 2008
balance . R$ million
16,096 2,292 2.89x
2.77x
2.31x
1.95x
1,382
8,448
3,464
261
06 07 08 06 07 08 1º tri 2º tri 3º tri 4º tri
.2.

3. mission,
cReed And
vAlues
the mission of Jbs s.A.
“Maximise the value of each animal in a sustainable
way”.
compAny cReed
“As we believe that one of the main competitive
differences is the quality of our people, and as we believe
that, no matter how simple the position may be, well-prepared
and motivated personnel make the difference, we consider
Human Capital as the main asset of our company. Mainly
through our people we manage to innovate, create, improve
and grow. This capital, when well used and with adequate
support, enables us to achieve the results necessary for the
perpetuation of JBS”.
ouR vAlues
: Planning
: Determination
: Discipline
: Availability
: Frankness
: Simplicity
.3.

4. history of Jbs
the history of Jbs has been marked by the acquisition of more than 30 units
over the last 15 years, with appropriate capital and management structure. Inalca – ITA
Swift Foods Co. – EUA/AUST.
Maringá
(Amambai) – BR
Berazategui
(Rio Platense) – ARG
Colonia Caroya – ARG
SB Holdings – EUA
JV Beef Jerky – BRA/EUA
Tasman – AUST
Smithfield Beef – EUA
Five Rivers – EUA
Rio Branco – BR
Cacoal 1 – BR
Barretos Cacoal 2 – BR Venado – ARG
(Anglo) – BR Porto Velho – BR Tuerto – ARG
Pres. Epitácio Vilhena Pontevedra – ARG
(Bordon) – BR (Frigovira) – BR (CEPA) – ARG
Barra do Garças Campo Grande
(Sadia) – BR (Bordon) – BR
19.8
Cáceres Pedra Preta
(Frigosol) – BR (Frigo Marca) – BR
Goiânia Andradina Araputanga Iturama Rosário
(Anglo) – BR (Sadia) – BR (Frigoara) – BR (Frigosol) – BR (Swift) – ARG 12.7
San Jose
(Swift) – ARG
Anápolis
(Bordon) – BR
1.5 1.9
0.7 1.2
0.3 0.4 0.4 0.5 0.5 0.4
93 96 97 99 00 01 02 03 04 05 06 07* 08**
R$/US$ exchange rate at the end of the year. R$/US$: 2,337
2.337
Source: JBS
* Pro forma JBS S.A. LTM Dec07 (includes JBS USA)
** Pro Forma JBS S.A. LTM Dec08 (includes JBS USA, Tasman and 50% of Inalca); Smithfield Beef LTM Dec08
growth in slaughtering capacity (head/day)
Acquisitions
ensuRe An
65,700
51,400
5 500
5,800
22,600
incReAse in
53 70 02 06 07 08
slAughteRing
cApAcity
.4.

5. index
AnnuAl
RepoRt
2008 Jbs historical overview
Jbs today
.6.
.7.
who Jbs is . 14 .
message from the president . 16 .
message from the . 18 .
board of directors
segments of Activity . 20 .
Acquisitions . 27 .
corporate governance . 30 .
operations and . 39 .
commercial Relationships
financial performance . 46 .
consolidated brands . 49 .
sustainability . 53 .
corporate information . 65 .
financial statements . 67 .
.5.

6. Jbs oveRview
55 yeARs
of impoRtAnt
Acquisitions
And stRong
inteRnAtionAl JBS have expanded the Company business based on
the business spirit in management, the vocation for leadership
and the quality of employees and collaborators. Innovative
pResence actions have turned this company into the largest world
producer of meat and the largest Brazilian food company.
1953 1968 1970 1981 a 2002
Significant expansion of the
Brazilian operation through the
José Batista Sobrinho purchase of slaughtering units
starts operation of a small With the purchase of another and also units producing fresh
Acquisition of the first
slaughterhouse in the city cattle-slaughtering unit in and industrialised meat, as also
slaughtering unit in
of Anápolis (GO), with a Luziânia (GO), production as investments in increasing
Planaltina (DF).
capacity of handling five soars to 500 heads a day. the production capacity. In
heads of cattle per day. this period, the slaughtering
capacity reaches 5.8 thousand
heads per day.
2005 2007 2008
Internationalization. IPO. Consolidation of
Acquisition of Swift Acquisition of Swift EUA. globalization. Constant
Argentina. Start of globalization search for efficiency.
.6.

7. Jbs todAy
JBS is now the largest beef producer in the world, with The operations in the United States have a total of
a capacity to slaughter 65.7 thousand heads of cattle per 17,900 employees and production is distributed among
day. The Company is also the largest world exporter of beef, 18 units with a total slaughtering capacity of 28,600 heads
with access to all world markets, and also has production of bovine cattle per day, 48,500 pigs per day, 4,500 small
platforms in the four largest world producers, namely Brazil, animals per day, and 11 confinement pens with a static
Argentina, Australia and the United States. capacity to fatten 820,000 thousand heads of cattle.
The Company produces both fresh and processed The JBS operations in Australia are distributed among
beef, ready meals, preserved vegetables, beef by-products, 10 plants with a total capacity to slaughter 8,500 heads of
and also fresh pork meat. The Company is market leader for cattle per day and 15,000 small animals daily.
beef on the Brazilian, Argentinean and Australian markets, In Italy, Inalca JBS has more than 2 thousand
and also the third largest beef-producing company on employees, 8 production plants and the capacity to slaughter
the American market. With a slaughtering capacity of 48.5 3,000 heads of bovine cattle per day. This Company has
thousand heads per day, JBS has become the third largest an additional distribution platform in countries such as the
producer of pork in the United States. United Kingdom, Russia, Angola, the Congo, Algeria, the
The Company operations are carried out in several Democratic Republic of the Congo and Poland.
different units in Brazil, Argentina, the United States, Italy and
Australia, and this has provided access to all the consumer
markets of the world, operational flexibility in production, low distribution of production units in 2008
transport costs, both for transporting the cattle to the units
and for transporting the products to the end clients, and a Brazil
lower risk of phytosanitary problems. Australia
JBS has a structure of low cost, efficient operating USA
cycle and high-quality products. All platforms have a Argentina
sustainable and long-term relationship with clients around Italy
the world. JBS Brazil serves these clients through the
Company’s 22 Production Units, with a capacity to slaughter 8
18,900 heads of cattle per day and with a total workforce of
16,900 employees in Brazil.
22
In JBS Argentina, there are six slaughterhouses with 6
a total capacity of 6,700 heads/day as well as production of
industrialised products and one tin packaging factory, with a
total of 5 thousand employees in that country.
18
10
.7.

8. Jbs woRldwide
globalized production and distribution platform
JBS NO MUNDO
Slaughterhouse (Beef)
Slaughterhouse and Industry
Distribution Center
Vegetable Canning Plant
Beef Canning Plant
JBSBeefMUNDO
NO Jerky Plant (Beef Snack’s)
Slaughterhouse (Pork)
Abatedouro
Slaughterhouse (Lamb)
Abatedouro ePork Processing Plant
Beef and Indústria
Centros de Distribuição Plant
Wet Blue Processing
Indústria de Vegetais em Conserva
Headquarters Office
Indústria de Carne Enlatada
Feed Lot
Indústria de beef Jerky (Beef Snack’s)
Package Industry
Indústria de Carne Suína
Inland Container Terminal
Indústria de Carne Ovina
Commercial Office
Processamento de Carne Bovina e Suína
Curtume
Sede Administrativa .8.
Confinamento
Indústria de Embalagens

9. Jbs bRAzil
description : 19 slaughtering units situated in Brazil, in the States
: The operations of JBS Brazil are carried out by 22 of Acre, Goiás, Mato Grosso, Mato Grosso do Sul,
production units, with a total capacity of slaughtering Minas Gerais, Rondônia, São Paulo and Paraná,
18,900 heads of cattle per day, and more than five of which also have the capacity to produce
16,900 employees; industrialised products;
: The clients of JBS in Brazil are essentially sellers, : One plant for tin packaging, in the State of Rio de
restaurants and leather tanning units (curtumes). The Janeiro, Brazil;
current client portfolio of JBS includes more than : One plant for tin packaging for vegetables, in Minas
6,000 companies on the internal market; and Gerais, Brazil;
: JBS is the largest Brazilian exporter of bovine : One plant for jerked beef in São Paulo, Brazil; and
products, with a turnover of US$1.1 billion in 2007, : One confinement site in the State of São Paulo, Brazil.
according to the Secretariat for Foreign Trade
(SECEX). The Company is also the 22nd largest
exporter in Brazil, considering all segments. clients
In 2008, a total of 11,240 clients were served on the
platform domestic market, and 436 on the overseas market, in more
At this moment, the Company plants are distributed than 100 countries, especially Russia, the United Kingdom,
as follows: Iran, Hong Kong and Saudi Arabia.
AC
RO
AC
ROMT
JBS IN BRAZIL GO MT
MG
MS
Slaughterhouses GO
JBS NO BRASIL
Slaughterhouses and Industry
SP RJ MG
PR MS
Distribuition Centres
Units AbatedourosVegetables
for Preserved
SP RJ
Units AbatedourosBeef
for Preserved e Indústria : total kill capacity: 18,900
Administrative Office
Centros de Distribuição PR heads of cattle/day.
Container Yard de Vegetais em Conserva : 16,900 employees.
Indústria
Confinement Unit : amount of plants: 22
Indústria de Carne em Conserva
Sede Administrativa
Pátio de Containers
Confinamento .9.

10. Jbs ARgentinA
description platform
: In 2005, JBS acquired Swift, now known as JBS At this moment, the Company plants in Argentina are
Argentina, with a capacity to slaughter 6,700 heads distributed as follows:
of cattle per day and more than 5,000 collaborators; : Six slaughtering units in Four provinces (Buenos Aires,
: The Company was the first packaging industry in Entre Ríos, Santa Fé and Córdoba), of which five also
Argentina to receive the ISO 9001:2000 certification for have the capacity to produce industrialised meats;
the whole process of production of processed meats; : One plant for tin packaging, in the province of
: In Argentina, the Company is absolute market leader Buenos Aires.
in the segment of industrialised meats for the internal
market, with a market participation of 77% of all clients
sales of 2007. The client portfolio consists of 786 JBS Argentina has a total of more than 650 clients
companies; and internally and 140 clients on the export market, serving 43
: Last year, JBS Argentina was responsible for 87% of countries, especially the European Union, the United States,
all the industrialised beef sold in the country, which Uruguay, Israel and Canada.
exported to the United States, Europe and about
190 other clients.
SF
SF
CO ER
CO ER
BA
BA
JBS NA ARGENTINA
JBS IN ARGENTINA
Abatedouros
Slaughterhouses
Abatedouros e Indústria Industry : total kill capacity: 6,700
Slaughterhouses and
heads of cattle/day.
Escritório
Administrative Office
: 5,000 employees.
: amount of plants: 7
. 10 .

11. Jbs united stAtes
description : 3 pig-slaughtering plants in Minnesota, Iowa and
: The operations of JBS USA are carried out by 18 Kentucky;
production units, with a total capacity of slaughtering : 1 sheep-slaughtering plant in the state of Colorado;
28,100 heads of cattle per day, 47,900 pigs per day, : 1 leather tanning unit in Texas;
and 4,000 heads of sheep per day, as well as 11 : 2 units for production of preserved meat (jerked beef)
confinement units with a total capacity of fattening in Minnesota and Texas;
820,000 heads of cattle. : 2 grease units in Pennsylvania; and
: The operation has more than 24,200 employees; and : 11 confinement units in the states of Colorado, Texas,
: The Company has been well known as a supplier of Oklahoma, Kansas, Ohio and Idaho.
prime-quality beef and pork for more than 150 years.
clients
platform JBS Argentina has a total of more than 3,900
At this moment, the Company plants in the United clients in the United States and some 500 clients on the
States are distributed as follows: export market, serving 37 countries, especially Mexico,
: 8 slaughtering units in the states of Colorado, Utah, Canada, Taiwan, South Korea and Hong Kong.
Texas, Nebraska, Wisconsin, Michigan, Pennsylvania
and Arizona;
MN
MN
WL
WL CT
IA
NE NJ CT
IA
IL
UT NE NJ
CA CO KY IL
CA AZ UT CO KY
AZ
TX
FL
JBS IN EUA
TX
FL
Cattle Slaughterhouses
JBS NOS EUA
Distribution Centres : total kill capacity: 80,000
Pig Slaughterhouses heads of cattle/day.
Abatedouros Bovinos
Pig and Cattle Slaughterhouses : 24,200 employees.
Centros de Distribuição
Sheep Slaughterhouses : amount of plants: 18.
Abatedouro Bovino e Suíno
Administrative Headquarters
Abatedouro Suíno
Offices
Abatedouro Ovino
Sede Administrativa . 11 .
Case Ready (pratos prontos)

12. Jbs AustRAliA
description platform
: The operations of JBS Australia are carried out by 10 At this moment, in Australia, the Company plants are
production units, with a total capacity of slaughtering distributed as follows:
8,500 heads of cattle per day and 16,500 heads : 10 slaughtering units for cattle, sheep and pigs; and
of sheep and pigs. In addition, the Company has : 5 confinement units in Queensland and New South
some 6,900 employees; Wales.
: TBS Australia is the largest meat processor and
exporter on the Australian market, having a commercial clients
relationship with more than 30 countries, mostly on the JBS Australia has a total of 185 clients in the United
Pacific coast and in North America. States and some 400 clients on the export market, serving
35 countries, especially South Korea, China, Japan, Taiwan
and Indonesia.
Queensland
Queensland
Western Australia
Southn Australia
Western Australia New South Wales
Southn Australia
New South Wales
Victoria
Victoria
JBS IN AUSTRALIA : total kill capacity: 25,000
heads of cattle/day.
Cattle Slaughterhouses : 6,900 employees.
Distribution Centres : amount of plants: 10
Administrative Headquarters
Confinement Units
JBS NA AUSTRÁLIA
. 12 .
Abatedouros
Centros de Distribuição

13. inAlcA Jbs itAly
description distribution
: The Italian operation is responsible for the : Moscow (Russia)
production of fresh bovine meat, as also as : St. Petersburg (Russia)
processed and smoked meats and snacks, through : Luanda (Angola)
a jointventure with the Cremonini Group; : Lobito (Angola)
: Turnover of US$1,039 million and assets of US$771 : Melangie (Angola)
million; : Brazzaville (Congo)
: The production division is responsible for two : Point-Noire (Congo)
companies: NALCA SpA and Montana Alimentari SpA; : Algiers (Algeria)
: Largest producer of beef in Italy;
: Largest producer of industrialised beef in Europe; production units
: Largest producer of hamburgers in Italy; : Poland – Slaughterhouse
: The Company is the only non-American supplier of : Moscow – Logistics and Distribution
McDonald’s;
: Capillarity in distribution throughout Europe, Africa clients
and Russia; INALCA JBS has a base of more than 8,000 clients
: Benchmark in technology in the market for cattle internally and also 660 on the external market, serving 65 countries,
slaughtering; especially France, Spain, Greece, England and Germany.
: 10 production plants;
: Production capacity of 800,000 heads of cattle per year;
: 40,000 tonnes of hamburgers per year; and
: 2,019 collaborators.
: total kill capacity: 800,000
heads of cattle/day.
JBS IN ITALY : 2,019 employees.
: amount of plants: 10
Slaughterhouses NA
JBS ITÁLIA
Abatedouros
. 13 .

14. who Jbs is
pioneeRism
hAs been the
mARk of the The year of 2007 has been important in the history of
JBS as the start of the globalisation of the Company, while the
year of 2008 has seen the consolidation of this movement. In
pAth tRAiled 2007, JBS purchased the Swift Foods Company, in the USA,
with units in that country and also in Australia, now known as
JBS USA and JBS Australia. In 2008, JBS announced the
by Jbs completion of purchase of a 50% stake in Inalca, the largest
producer of beef in Italy, as also of Smithfield Beef Group,
Inc. and the Tasman Group, the former being situated in the
United States and the latter in Australia.
The success of the Company is backed up by The acquisitions in 2008 have consolidated the
business spirit and by a pioneer approach, both very strongly globalisation of the Company and also strengthen the JBS
present in JBS management. strategy of geographical diversification of their production
JBS S.A. was the first company to be structured and distribution units, thereby reaffirming the Company’s
professionally, in the meat industry in Brazil. The strategic vision, global presence in the main meat-producing countries,
focused on an expansion policy, started the internationalisation and with access to 100% of the consumer markets. This
of the Company in 2005 with the purchase of Swift Argentina. production platform makes JBS a company that holds
The following year, the Company became a sociedade global leadership in the beef segment, and which exports to
anônima (like a PLC in the United Kingdom) and, in March the most important importing countries in this segment.
2007, promotes a new milestone on the São Paulo Stock The JBS management style also includes a search for
Exchange. With the opening of the Company’s capital in 2007, modernity, quality of products and raw materials, construction
JBS strengthened its pioneer spirit, being the first company in of relationships with partners, clients, collaborators and society
the meat-packing segment to trade its shares on the Stock in general, satisfaction of shareholders, and a commitment to
Exchange. The opening of the Company’s capital shows the issues of social and environmental responsibility.
advances made by JBS, which thus consolidates the best JBS is dedicated to the production of fresh and chilled
practices of Corporate Governance which the Company has beef, processed beef, fresh and chilled pork, and also beef
always practiced, making the market more transparent. and pork by-products.
. 14 .

15. JBS is present in all the world’s consumer markets thanks volume sold . thousand tonnes – 2008
to its productive strategy, with plants in the main beef-producing domestic market (1,343)
countries – Brazil, Argentina, the United State, Italy and Australia Fresh
– and also leadership in terms of exports, serving 110 countries. Processed
JBS also has, as their strategy for the consolidation of global Others
presence, a strong and well-structured policy of acquisitions. 6.9%
In 2008, they tightened their grip on the North American market 2.4%
with the purchase of Australian company Tasman for some
US$150 million, and also the takeover of Smithfield Beef, which
operates in the United States.
JBS analyses companies throughout the world, to
identify those that have good market potential but which are
not able to establish an efficient management system. On
takeover, the companies go through a period of financial
cleansing and then the JBS standards of management
are enforced. This means that there has been the start of
a process of optimisation of the results of these production
units and also the unification of Company culture. 90.7%
Nowadays, JBS is active in the food and transport
segments, and, in all the countries where the Company is volume sold . thousand tonnes – 2008
present, has a total of 48.9 thousand collaborators which export market (419)
contribute towards the success of the Company. Fresh
The JBS operations are structured in five segments: Processed
: JBS Brazil
: JBS Argentina 6.2%
: JBS United States
: JBS Australia
: JBS Italy (Inalca)
93.8%
. 15 .

16. messAge fRom
the pResident
Joesley mendonça batista
President of JBS S.A.
We kept at 2008 the same growing rate that Not less important, at 2008 JBS retaken the newly
characterized Company’s management on last years, with USA’S purchased company results, between fixed costs
worldwide presence in the main producer and customer reduction, operational efficiency improvement, larger scale
markets for our products. Our global production platform and focus on details. Those points, due they are inside factors
is consolidated, with many challenges as our culture – not exposed to market conditions – created a scenario to
implantation in those unities, processes integration and Company continue presenting sustainable results.
costs structure revision, that resulted in efficiency and Positive results were ensured thanks to excellent
improvement increasing – we optimize our resources on JBS positioning on its main markets. EBITDA margin
production processes managing, speed up our production maintenance in the 4% rate probes JBS solidity and risk
unities supplying and fresh products delivery, with quality to management capacity.
our customers. Company also work on is de-leverage, reducing the
Company attitudes were a preparation for worldwide relation between liquid debt on EBITDA from 3.64 at 2007 to
economic crisis. With the turnover in worldwide credit 1.95 at 2008. Worked with debt basically funding its working
market and lower funding lines availability on international capital, not having problem to refund its short time debts in
financial markets, we turn our focus to the Company the moments of low liquidity market. At 2008 also began to
economic health, rather than to continue growing, as was balance geographically its debt, with incomes generation on
occurring to this moment. Between adversities we were each operation country.
in face of there are strong increase on cattle prices, low The Company belief in its values reflect on management
cattle availability due a cyclic herd deterioration and the attitudes, as the adoption of additional corporative governance
high appreciation of Brazilian currency, Real, in the first half practices in relation to that is required by law and the own
of year - that prejudices our products competitiveness on regulation of New Market from BM&FBovespa, as the existence
international market. of audit, Finances, People Management and Enterprise Strategy
Although in face of this scenario, we close 2006 with committees,. On this last comittee, a detach for Sustainability
R$ 30.3 billion of net income, that represents more tan two quaestions. We have sustainability programs suitable to each
times last year income, a 114.5% growing and R$ 1.2 billion production unities, that includes environment, natural resources
of EBITDA, 95.6% higher than 2007. use, wastes treatment and social actions.
. 16 .

17. with Although pointing to 2009 as a year to conservative
business management movements, JBS demonstrates
that its growing strategy has been being correct. Company
conseRvAtive is taking advantage of opportunities as firms acquisitions,
where its management model, between efficiency
improvement and costs reduction, can increase its resuls. At
mAnAgement 2008 we incorporate to our portfolio Inalca operations, Italian
firm responsible by fresh beef, manufactured, smoked and
snacks production, between Association with Cremonini
And A focus group, Tasman Australian group, and Smithfield Group beef
unity (Smithfield Beef), in United States, and its confining
operations known as Five Rivers, are now respectively
on Results, named as: “ JBS Packerland” and “JBS Five Rivers”.
Those acquisitions represents the conclusion of
investments plan to build a slaughtering, production and
Jbs envisAges trading platform sustainable, on EUA and Australia, that began
at July, 2007, between Swift & Company acquisition.
The next years, we believe, Will be marked by JBS
oppoRtunities distribution global platform integration and expansion, to
consolidate each more our strategy to create the largest
world company of direct distribution of beef, cooled and
Amid moments freeze dairy products.
This report shows JBS’S management solidity and the
trust that company entrust on its more than 48.9 thousand
of tuRbulence employees around the world.
. 17 .

18. messAge fRom
the boARd
of diRectoRs
constAnt JBS is structured to grow by replicating its business
model and taking opportunities that place the Company
closer to the supplier markets and producers. The Company
gRowth, is therefore in an excellent position to take on the current
phase of the world economy, with solid financial health and
a conservative management in the main markets.
And solidity JBS has its main asset in its team of collaborators. The
innovation capacity and the ability to meet even the strictest
consumer expectations have led JBS to levels of excellence
which make the Company look to the future with confidence.
Even with the negative factor of the world financial crisis,
which hit the markets as from October 2008, JBS managed
to build a solid base to make their business permanent. The
geographical expansion has ensured presence close to the
Ever since the Company was set up in 1951, with clients, thereby bringing significant reductions of operational
a slaughtering capacity of five heads a day, until reaching and logistics costs. The Company has been keeping up its
60 thousand heads per day, with units on six continents, margins, this clearly showing that it is possible to establish
JBS has always trailed a path of excellence in business performance targets and to have security in business.
management, administration of human resources and risk The Management of JBS in 2008 has shown itself
assessment. Nowadays these qualities are more important to be competent and conservative in the light of a scenario
than ever before. The world is changing, and business of turbulence, and this has reaffirmed its excellence of
scenarios are more and more volatile. management, and credibility before the market.
. 18 .

19. globAlisAtion
cAttle is the most impoRtAnt commodity in the stAte
of coloRAdo, And is Responsible foR moRe thAn 60% of
ouR AgRicultuRAl income. Jbs bRings An inteRnAtionAl
peRspective to this industRiAl segment, which will
benefit the pRoduceRs And Also mAke AgRicultuRe in
coloRAdo feAsible in yeARs to come.
betsy markey
Congresswoman from the
Fourth District of Colorado
. 19 .

20. segment
of Activity
Jbs is Active in The year 2008 was marked by the global financial
crisis. As from September 2008, the world felt the pinch with
the effects of this scenario.
the pRoduction The speculations about the duration and the impact
of the current global crisis have led to a high volatility as
yet unseen in the capital markets. For JBS, this situation
And commeR- of instability was regarded as an opportunity to prove the
solidity of the Company and also the ability to manage risks,
which gave the Company reasonable financial stability even
ciAlisAtion of in the most adverse conditions.
The experience of JBS in statistical studies on elasticity
have shown that, during previous global crises the consumption
beef, And is of bovine protein was not reduced, meaning that the Company
believed that the demand for their products would continue to
grow and that there would be good results at the end of 2008.
pResent in Some effects of this crisis, such as exchange rate operations,
brought important benefits. This movement led to the financial
deleverage of JBS, as currently more than 80% of cash flow is
the lARgest in American currency while almost all the debt in Brazilian Reais.
It also provided operational gains through the global production
and distribution platform, directing Company resources
pRoducing between the markets for each region.
In 2008, the first impact on business came in the form of
suspension of credit lines for exports. JBS, well positioned with
And consumeR the main producing and consumer markets, sought to strengthen
their activities in the domestic markets where they have their
units. In this way, the Company reduced its dependence on
mARkets of international markets when there was lack of credit for importers.
Once again, the strategy of expanding Company business
throughout the world and getting closer to the main markets
this segment proved to be correct. Lower costs and improvement to efficiency
were key factors for the success of the Company.
. 20 .

21. The position of JBS on the markets in the United States and also for the full retaken of the results obtained by
and in Australia were important factors for the Company JBS USA. In addition to the good results obtained on the
business not being contaminated by the world financial crisis. American market, exports have stood out through the strong
The United States are the largest world market for beef, while global demand. The turnaround of operations in the USA
Australian has strategic closeness to the Asian markets. In has once again proved the experience and the competence
the United States, the Company also has strong operations of the Management of JBS, guided by your efficient strategy
with pigs as well as cattle, this being a diversification that of seeking opportunities in purchases.
also helped to ensure positive results in the year. In 2008, JBS thus consolidated the Company’s
JBS obtained satisfactory results in 2008. The globalisation and also confirmed to the market its capacity
Company closed the year with a positive performance. for management.
The third quarter, for example, had the best quarterly result
consolidated in the history of the Company, with an EBITDA pRoduction
of R$470.5 million, a net turnover of R$7,771.5 million, and a
net profit of R$694.0 million. In this same period, JBS USA, Brazil has the 2nd largest bovine herd and In terms
considering its activities in the beef segment, also obtained of the herd commercially used, Brazil has the largest cattle
its best historical result and confirmed the expected increase herd in the world, by number of cattle heads.
in EBITDA margin, from 5.1% in 2Q08 to 5.6% in 3Q08. In the ranking of world production of beef, Brazil is in
The year 2008 was important for JBS to confirm its 2 position, behind the United States which yonder USA are
nd
stability and leadership in the beef segment, even in the light the largest consumer of this product.
of an adverse scenario. Australia is the second largest exporter of beef as
The year has also been relevant because JBS has it has many productive advantages: exceptional sanitary
confirmed its stability and leadership in the beef segment conditions, as it is a large island without borders onto any
other countries, which means there is no risk of infection by
animals from other countries; good weather conditions; and
proximity to Asia, an important consumer market for beef.
bRAziliAn mAcRoeconomic scenARio Argentina is the fourth largest beef producer.
2007 2008 Argentinean meat is in itself a very strong brand on the
Growth in GDP 3,7 5,4 international market through its tradition, native pastures and
Inflation (IGP – M) 3,8 1,76 also its climate similar to that of Europe. These benefits allow
Inflation (IPCA – M) 3,1 4,47 the development of a product which is highly competitive on
Selic (Official Interest Rate) 15,0 11,25 the European market.
Sources: IBGE and FGV
. 21 .

22. total scenario - herd & production - 1960 to 2009
Total Herd
Production (equivalent carcass weight)
1,200.0 70.0
1,100.0 60.0
production . million tonnes
herd . million head
1,000.0 50.0
900.0 40.0
800.0 30.0
700.0 20.0
600.0 10.0
60 62 64 66 68 70 72 74 76 78 80 82 84 86 88 90 92 94 96 98 00 02 04 06 08
Source: USDA
main beef exporters main beef importers
Brazil United States
Australia Russia
United States Japan
India Mexico
New Zealand European Union
Canada South Korea
Argentina Canada
Uruguay Venezuela
European Union Egypt
Others 11 Others
18
1
26
5 29
6
6 15
3
6
17 4
4 10
10
5
12 6 6
. 22 .

23. consumption
Beef is an important source of protein, and for this
expectAtions
reason it is the third most commonly eaten meat in the world,
after pork and chicken.
USDA statistics show that the consumption of beef
of steAdy
has been rising steadily since 1960. The same source shows
that since 2001 the world consumption of beef has grown at
a rate of 1.1% per year, on average.
gRowth in
For the next few years, we expect a steady growth in
the world consumption of beef, as a result of the population
growth, mainly in countries like China, Brazil, other Latin
consumption
American countries, the Middle East and Eastern Europe.
The maintenance in the growth of the population in
developed markets and the constant growth of population
of beef
in the emerging markets show a strong demand for the
Company’s products in both the short and the long term.
world population growth and consumption of beef
Population of Developed Countries
Population of Developing Countries
Consumption of Beef*
10,000.0 140.0
120.0
consumption . million tonnes
8,000.0 cAgR 2.0%
100.0
population . million
6,000.0 80.0
60.0
4,000.0
40.0
2,000.0
20.0
0.0 -
60 65 70 75 80 85 90 95 00 05 10* 15* 20* 25* 30* 35* 40* 45* 50*
Source: United Nations and USDA
* UN Estimate
** Trend for beef consumption considering CAGR of 2% per annum (between 1960 and 2009)
. 23 .

24. consumption of beef per caput . in kilos per year
65.6
52.4
40.7
37.3
34.7
31.7
24.1
15.9 16.3
9.4
4.7
Argentina uruguay usA brazil Australia canada mexico eu Russia Japan china
commeRce In the export ranking, Brazil has been in the lead since
2004, mainly thanks to the increase of the national herd and
The United States, even as the largest beef producer in also efficiency in livestock husbandry, together with the
the world, has a shortage of production of lower-value cuts, in occurrence of BSE in some beef-exporting countries – this
contrast to a surplus of high-value cuts, which makes the USA being an illness which does not affect the national herd, and
the largest importer of subgrade beef (as the production does which therefore opened the markets formerly covered by
not meet the high demand of the country) and an important these countries to the export of Brazilian meat.
exporter of choice and prime cuts. The country’s exports Argentina has been significantly increasing their
fall after 2003, in the wake of the outbreak of BSE (popularly exports in recent years. The beef industry in the country has
known as “mad cow disease”), but started an important obtained great success through the international marketing
recovery as from 2008, suggesting that the volumes exported made with the aim of placing the country’s meat with a prime
should return to the levels of before 2003. perception by the international market.
In Australia, export of beef is a strong activity. The
country has been one of the leaders in this segment for more
than a decade now. About 75% of the exports of Australian beef
have been made to Japan, South Korea, Russia, Taiwan and
Mexico, among other countries, and this figure is developing
further, so that there may be a record growth in 2009.
. 24 .

25. beef deficit and surplus . thousand tonnes the beef industRy: bRAzil, ARgentinA, the
united stAtes And AustRAliA
1999
2009* With the largest beef herd for commercial purposes,
Brazil has also become the largest world exporter of beef,
brazil thanks to the stepping up of production, characterized
by low cost, which allows the widening of the range of
destination markets for exports. The reduction of sanitary
Argentina and commercial barriers has also played a part in bringing
about the average growth of 25.5% in Brazilian beef exports
since the year 2000.
Australia
In 2008, considering the total between January and
October, Brazil exported just over 1.89 million tonnes of fresh
united states beef equivalent, with a turnover of US$4.67 million. Compared
with the same period for 2007, we see that there has been
a rise in turnover by 26%, in contrast to a 13% fall in volume.
china
The largest buyer of Brazilian fresh beef has been Russia,
with 38% participation, followed by Venezuela (9%), Iran (7%),
european Hong Kong (5%), Egypt (5%), Algeria (4%) and Israel (4%).
union For processed meats, 20% of the total exported goes to the
United States, followed by the United Kingdom (14%), Italy
Russia (6%), the Netherlands (6%), Germany (2%), Belgium (1%)
and Jamaica (1%). The according to data released by the
Brazilian Meat Exporting Industries Association (ABIEC).
south korea
This year, with the tightening of European restrictions
on fresh Brazilian meat, there was a significant rise in the
Japan sales of processed meats (sales of fresh beef fell), even
in the case of Europe itself. More specifically, at the end of
2008, the international financial crisis has had a negative
(-1,500) (-500) 500 1,500 2,500 impact on shipments, particularly in the case of Russia.
The restrictions set by the Argentinean Government
Production - Consumption
Source: USDA on beef exports in 2008 removed the country from the 4th
Estimate for 2009
place among the largest world exporters, bringing it down to
7th place. In 2005, Argentina was the 3rd largest world exporter
of beef. The crisis between the Government and the rural
globAl leAdeRship of Jbs beef producers had an important impact on the segment.
This scenario was made even worse as from September,
when the world financial crisis broke out.
: Production platform which leads in countries
with production surplus.
: Leader in exports to the most important
beef-importing countries.
: Access to 100% of beef consumer markets.
: Sustainable and long-term relationship with global clients.
. 25 .

26. the Jbs The United States are the largest world producer of beef,
even though the country has only the third largest commercial
herd. The country is also the largest world consumer of beef,
opeRAtions ARe with significant consumption of cheaper cuts and a lower
consumption of prime cuts. In this way, the country stands out
for exports of prime and choice beef and, at the same time, is
in confoRmity the largest importer of second-grade beef.
For JBS, the United States is the most strategic market of
their operations, as this is the most important consumer centre
with lAws And and also a producer of beef protein. This is also a market which
warrants lots of attention, through seasonality and also due to
the high competitivity of the segment in the country.
RegulAtions Australia is now the second largest beef exporter in the
world. Australia has kept its position as leader in beef exports to
Asia, making the most of the excellent economic performance
of the mARkets of this region, and China is the main target, destination of two
thirds of Australia’s production.
wheRe the RegulAtion of the segment
The production and commercialization of beef is
compAny is subject to extensive regulation from Government authorities
at municipal, state and federal level and also foreign
institutions, with regard to the processing packaging,
Active storage, distribution, advertising and labelling of the products,
including food safety requirements.
Recently, practices and procedures for food safety in
the beef processing industry have subjected the companies to
a more intense analysis and supervision.
JBS seeks to remain aligned with the requirements
set by the Governments and also by the regulatory bodies in
the countries where the Company is active, to make sure that
the Company operations comply with all laws and regulations
regarding food safety.
. 26 .

27. gRowth
i hAve followed the tRAJectoRy of Jbs gRoup foR oveR
fouR decAdes now. fRom A humble oRigin, this compAny
gRew to gigAntic pRopoRtions in the scenARio of its stAte,
of bRAzil And oveRseAs thRough its competence And the
eARnestness it AlwAys fAced its commitments with. Jbs
gRoup’s tRump cARd is the solidity in its commeRciAl
tRAnsActions; its cRedibility, theRefoRe, is Above dispute.
in conclusion, we cAn it is A compAny thAt inspiRes
confidence, which is An edge in the globAlized woRld.
iris Rezende
Mayor of Goiânia
. 27 .

28. Acquisitions
the puRchAses US$1.4 billion, consolidated the Company’s position as the
largest world producer of beef and the third largest producer
of pork.
mAde in 2008 In 2008, with the purchases of the JBS operations
in Australia, Italy and the United States, the Company
consolidated its globalisation process.
hAve consoli- In March 2008, the Company clinched an agreement
with Cremonini SpA (“Cremonini”), for the acquisition of a
50% stake in the capital stock of Inalca SpA (“Inalca”), one
dAted the of the most important beef producers in Europe, for a total
of 225 million Euros, based on an enterprise value for Inalca
set at 600 million Euros. The acquisition of Inalca, which
globAlisAtion now bears the name of Inalca JBS, established important
synergies between products and sales channels of JBS
and Cremonini, both leaders in their respective markets. On
of the compAny the one hand, JBS with its production and distribution in the
markets of South America, the United States and Australia,
and, on the other hand, Cremonini, through Inalca, with its
presence in Europe, Russia and Africa. For JBS, this operation
was a unique opportunity to access, through Inalca, new
markets and clients, including large multinationals in the
JBS has constructed a solid business management fast-food business, producers of processed foods, large
model in the food segment. The Company seeks to expand retail chains, and food service companies. This alliance also
its presence on the global market through a strategy of offered JBS access to Inalca’s cutting-edge technology,
assessment of opportunities and acquisition of companies widely acclaimed, as also to the products with highest
that could benefit from a “management shock” based on added value, traded under the Montana brand name.
the JBS model. In this way, the Company has sought to For Cremonini, this transaction gave privileged
consolidate a position of leadership in strategic markets and access to the main world sources of supply of beef, as well
ensure god results for the Company’s investments. as strengthening its supply chain. This Association in Italy,
The Company started its internationalisation in 2005 together with the acquisitions made in the United States and
with the purchase of Swift Armour, an Argentinean company, in Australia, have confirmed the global leadership enjoyed
and then, as from 2007, JBS embarked on an expansion and by JBS.
globalisation plan, moving towards the largest producing and The acquisitions of the American company Smithfield
consuming markets for their products. In 2007, the purchase Beef and Australian company Tasman were closed at R$565
of Swift Foods, of the United States, in an operation worth million and US$150 million respectively.
. 28 .

29. In March 2008, JBS announced the purchase of The acquisition of Smithfield Beef Processing included
the Tasman Group, an Australian company, and also of 100% of the shares issued by subsidiary Five Rivers Ranch.
Smithfield Beef, an American company. The confirmation With the purchase of Smithfield Beef Processing,
that authorization had been received from the Australian JBS USA started to have four more slaughtering units in that
Competition & Consumer Commission (ACCC), the country, located in Green Bay (Wisconsin), Plainwell (Michigan),
Australian regulator, for the purchase of the Tasman Group Souderton (Pennsylvania) and Tolleson (Arizona); a grease-
was received by JBS on 23 April 2008. The new structure producing unit in Elroy (Pennsylvania) and a bovine confinement
gave JBS Australia an additional 5,000 employees and unit in South Charleston (Ohio); and a transport company, with
15 units, including slaughterhouses for bovines and small some 120 refrigerated lorries. Five Rivers has ten confinement
animals (sheep and calves) with a capacity of slaughtering units for bovines, with a total capacity of 811,000 heads, in the
8,500 heads of cattle per day and also 16,500 small animals states of Colorado, Idaho, Kansas, Oklahoma and Texas.
per day. With the purchases in the United States, currently this
As part of JBS’s globalisation strategy, the acquisition platform accounts for about 75% of the consolidated net
of Smithfield Beef in 2008 was an important step in the turnover of JBS.
completion of the investment plan for the construction of a With these operations, JBS, which were already
sustainable slaughtering platform, and also the production leaders in beef production, also became the leader in the
and commercialization of beef, in the United States and sale of beef-based products. The Company obtained a
Australia, which started in July 2007 with the purchase of significant advantage with the proximity to the largest beef-
Swift & Co. This purchase shall increase JBS’s capacity producing and consuming markets in the world. After this
to meet specific demands made by the clients, and shall business integration, JBS had 14% of world beef production,
also provide economies of scale and operational efficiency, and a capacity to kill 15 million heads per year, as well as
thereby generating value for the shareholders. 31% of meat sales on the international market.
the integRAtion of the tAsmAn
gRoup smithfield beef And
,
the confinement units of five
RiveRs hAve incReAsed the
pRoduction plAtfoRm And
intRoduced syneRgies thAt
hAve Reduced costs
. 29 .

30. tRust
the ARgentineAn beef industRy hAs Added poweR to its
Activities with the pARticipAtion of bRAziliAn cApitAl.
the significAnt development of the Jbs fRiboi gRoup ,
the owneR of 8 industRiAl plAnts in the countRy,
cleARly expRess the decision tAken by this business
gRoup A leAdeR in the segment, to boost And enhAnce
,
the ARgentineAn beef industRy, which shAll bRing
concRete benefits foR the countRy, foR the woRkeRs
And Also foR the technology of the sectoR.
dr. mario dario Ravettino
President | Consortium of
Argentinean Beef Exporters (ABC)
. 30 .

31. coRpoRAte
goveRnAnce
Jbs conducts JBS follows a model of Corporate Governance with the aim
of implementing the best practices in the Company, that should
be reflected in transparency and trust from a range of publics,
its business in and also ensure the best products and services to the Company
clients, solidity to suppliers, satisfactory yield for shareholders,
and the certainty of a better future, for all collaborators.
A tRAnspARent Corporate Governance is the very essence of the
Company, which makes use of best market practices and
also acts in line with currently effective laws, in a natural way.
And ethicAl Governance is a reality within JBS, something dynamic and
natural, which is part of the daily activities of the Company.
The conduct of JBS is represented by the pillars of corporate
mAnneR, this governance. This means that the view of organizational
behaviour based on Governance guides JBS in the strict
compliance with laws and also respect for all segments of
being the the public.
coRpoRAte goveRnAnce in the essence of Jbs
bAse of the The corporative responsibility of JBS is shown in the
transparency and equity with which the Company carries out
compAny’s its business.
JBS believes that, through collaborators who are both
committed and motivated, the Company may constantly grow
coRpoRAte and innovate, thus achieving the desired results.
JBS believes that people are the same, anywhere on the
planet and in any business environment, regardless of their social,
goveRnAnce intellectual or hierarchical level, and only brings to the Company
those people who enjoy prosperity, who seeks firm commitment
to work, availability, learning, growth and expansion. For JBS, after
all, their greatest asset is human capital. Indeed, it is the capacity
of human work that makes a success of the Company and also
sustains all possibilities for future growth and innovation.
. 31 .

32. In terms of operational focus, JBS believes that everything (Bovespa). JBS S.A. discloses relevant facts and
starts at the plants, as the harmony and the precision of the notifications as per CVM instructions, which requires
quality of the “cattle” raw material, together with the capacity that the data about Company business are published
of human work, make a success of the Company and also in a way that gives investors and the market enough
back up and prop up the possibilities of growth and investment time to make decisions concerning their investments.
in the future. JBS monitors external factors to make strategic JBS also, through press releases, makes the Company’s
decisions and always focuses on what is within their reach and quarterly results available to the market and also holds a
what can be controlled. The Company is obstinate in controlling conference for investors and market analysts, as also a
costs, in increasing the slaughtering and production capacity, press conference every three months to comment on
and also in the steady improvement of yield and the guarantee Company performance, events and also shed light on
of the best quality of their products. possible doubts shown by the market.
Risk control identifies and classifies the events that cause Commitment to efficient corporate governance is
strategic risks to JBS business, according to the probability reflected in the option to register the Company in the listing
thereof, and establishes the respective control procedures. The segment of the New Market of the São Paulo Stock Exchange
Company conscientiously deals with possible risks that could (Bovespa), which has a strict commitment to good practices
involve the Company’s segments of activity, and sets targets of corporate governance. JBS shows its commitment to
and guidelines for the management thereof. transparency and also quality in business management through
The Company creates and sustains different public commitments inherent to the New Market, namely:
Commissions to ensure correct implementation of all : Grant to all shareholders the right to joint sale (“tag
Company activities. At present, JBS has Audit, Finance, People along”), in cases of alienation of the share control of
Management and Corporate Strategy Commissions. For the Company, in which case the acquirer of the control
example, the Corporate Commission manages sustainability should make a public offering of share purchase to
at JBS. JBS believes that its development and corporate the other shareholders;
growth must be associated to the sustainability of Company : Take up supply procedures that favour scattering of
actions. With this belief, JBS supports and invests in the shares;
improvement of the production chain to which it belongs. : Comply with minimum standards for quarterly
JBS shares are traded on the New Market, a segment of disclosure of information;
Bovespa made up of companies which have committed them- : Follow stricter disclosure procedures with regard to
selves, on a voluntary basis, to the adoption of corporate govern- deals made by the controlling shareholders of the
ment policies in addition to those required by relevant legislation. Company, as also Board Members and Directors,
involving securities of their issuance;
infoRmAtion AppRAisAl policy : Submit any existing shareholder agreements and
programmes with share purchase options to Bovespa;
The policy for disclosure of information is another : Prepare annual financial statements, including cash
key issue in meeting the rules for transparency and flow statements, in the English language, as according
the requirements of regulators of the financial market, to international accounting standards like the Generally
such as the Brazilian Central Bank, the Securities Accepted Accounting Principles (GAAP) of the USA, or
Commission (CVM) and the São Paulo Stock Exchange the International Financial Reporting Standards (IFRS);
. 32 .

33. : Use exclusively the arbitration rules of Bovespa, : Give an opinion on the proposal for distribution of
by which Bovespa, the Company, the controlling dividends and tax planning;
shareholder, the managers, and the members of : Monitor quarterly results; and
the Fiscal Board of the Company, if installed, agree : Seek to protect the internal financial control systems.
to solve any dispute or controversy concerning the
listing regulations through arbitration; and people management commission
: Help the Board of Directors with issues regarding
To ensure correct conduct in all JBS activities, in addition remuneration and identification of directors;
to the Tax and Management Commission, JBS also has : Give an opinion on the mechanisms for variable
Audit, Finance, People Management and Corporate Strategy remuneration and long-term incentives;
commissions. Each of these commissions plays a relevant : Help with the process of executive appraisal;
role in the guarantee of JBS management processes. : Give support to the Board of Directors, for the
management of the executive succession plan;
Audit commission : Monitor the Company policy for retaining talent; and
: Give opinions about hirings, remuneration, retaining : Give opinions about the organizational structure of the
and replacement of the external auditor; Company and also the general Human Resources
: Contribute to the preparation of the scope and the policies.
schedule of the annual auditing activities and also to
the review of current internal risk controls, seeking to corporate strategy commission
improve the quality of the information supplied to the : Mr. Marcus Vinicius Pratini de Moraes is the current
Board of Directors; president;
: Identify and suggest actions in support of the monitoring : Develop, and propose to the Board, policies
of the activities of the internal and external auditors, and regarding corporate strategy and the sustainability of
establish a channel of communication between internal the Company operations;
institutions for accounting controls and the Board of : Advise the Board of Directors in all matters concerning
Directors; and sustainability, by means of identification, addressing
: Try to solve possible controversies between the and treatment of critical issues that amount to risks, or
Auditors, Board and Fiscal Commission about the which could have a negative impact on business;
financial statements of accounts. : Make recommendations to the Board of Directors,
and accompany the implementation of policies,
finance commission strategies and actions that concern the sustainability
: Give an opinion about the appropriate capital of business at the Company; and
structure, and prepare studies about market capital : Assess the proposals for strategic investments of the
costs vis-à-vis costs of Company debts; Company from the standpoint of sustainability, and
: Study the projects for investments and adaptation of make recommendations to the Board of Directors
the Company’s financial structure in depth; regarding making decisions about these investments.
. 33 .

34. boARd of diRectoRs José batista sobrinho: Mr. José Batista is a member of our
Board of Directors and is the founder of the JBS Group.
The Board of Directors is the highest institution of He has experience in beef production in the JBS Group
Company management and is responsible, among other spanning more than half a century. Mr. José Batista was
points, for establishment of policies and guidelines for elected to this position on 2 January 2007. Mr. José Batista
Company business. The Board of Directors also supervises is the father of Mr. Joesley Mendonça Batista, Mr. Wesley
the Management and also oversees the implementation, by Mendonça Batista and Mr. José Batista Jr.
the Management, of the policies and guidelines regularly
established by the Board of Directors. José batista Junior: Mr. Batista is a member of our Board of
The Administration Committee of JBS currently Directors, having been elected to this post on 2 January 2007,
consists of seven members, three of which are independent having more than 25 years of experience in beef production
committee members. within the JBS Group. Mr. Batista is one of the sons of Mr. José
The term of the first Administration Committee after the Batista, the founder of the JBS Group, and brother of Mr. Joesley
opening of capital, which occurred in 2007, is three years. This Mendonça Batista and Mr. Wesley Mendonça Batista.
means that the term of the current members of the Administration
Committee is due to expire in 2009. As from 2009, the members marcus vinicius pratini de moraes: Mr. Pratini de Moraes has been
of the Administration Committee shall be voted for a unified term a member of our Independent Administration Committee since 2
of two years, with the right to unlimited re-elections. January 2007. He is an Economics graduate from the Faculty of
The Administration Committee meets once a quarter, Economic Science of the University of Rio Grande do Sul (1963),
or at any moment when a special meeting is called by the with graduate studies in Public Administration from the Deutsche
President or by any other member. Stiftung für Entwicklungsländer, in Berlin, Germany (1965) and in
Business Administration by Pittsburgh University & Carnegie Tech
Joesley mendonça batista: Mr. Joesley Batista is the current – Carnegie Institute of Technology (1966). Mr. Pratini de Moraes
President of the Administration Committee, having been elected held the posts of Interim Minister of Planning and General Co-
to this post on 2 January 2007, and has more than 20 years of ordination (1968-1969), Minister for Industry and Commerce
experience with the production of beef within the JBS Group. He (1970-1974), Minister of Mines and Energy (1992) and Minister
is also the Executive President of JBS S.A. Joesley Batista has for Agriculture, Livestock and Supplies (1999-2002).
worked for the JBS Group since 1988 and is one of the sons of
Mr. José Batista Sobrinho, founder of the JBS Group, and brother demósthenes marques: Born in Passo Fundo, Rio Grande do Sul,
of Mr. José Batista Júnior and Mr. Wesley Mendonça Batista. he is a graduate in Civil Engineering from the Federal University
of Santa Maria, and completed post-graduate studies in Urban
wesley mendonça batista: Mr. Wesley Batista is the current Development by the Cândido Mendes Integrated Faculties, a
Vice-President of our Board of Directors, having been elected specialist in Audits of Public Works from the University of Brasília
to this post on 2 January 2007, and also has more than 20 (UnB) and in Geographical Information Systems by the Federal
years of experience with the production of beef within the JBS University of São Carlos (UFSCar).
Group. He is also a Member of the Board, and has worked for He has been an Investments Director at FUNCEF since
the JBS Group since 1987. He is one of the sons of Mr. José July 2004. He has been an employee of the Brazilian Federal
Batista Sobrinho, founder of the JBS Group, and brother of Mr. Savings Bank (Caixa Econômica Federal) since 1989, and at
José Batista Júnior and Mr. Joesley Mendonça Batista. this institution he carried out executive roles in the areas of Urban
Development and also Social and Economic Development.
membeRs of the boARd of diRectoRs post held date elected term ends
Joesley Mendonça Batista President 2/1/2007 August 2009
Wesley Mendonça Batista Vice-President 2/1/2007 August 2009
José Batista Sobrinho Board Member 2/1/2007 August 2009
José Batista Jr. Board Member 2/1/2007 August 2009
Marcus Vinicius Pratini de Moraes(1) Board Member 2/1/2007 August 2009
Demósthenes Marques(1) Board Member 11/4/2008 August 2009
Humberto Pires Grault Vianna de Lima(1) Deputy Member 11/4/2008 August 2009
(1) Independent Board Member
. 34 .