MINERVA FOODS FILES RECORD EBITDA OF R$ 806,2 MILLION AND LEVERAGE OF 2,18x IN 3 Q22 - THE LOWEST LEVEL SINCE 2018.

BARRETOS, Brazil: Minerva Foods (Minerva S.A. - B3: BEEF3 | OTC - Nasdaq International: MRVSY), a leader in the export of fresh beef and derivatives in South America, and which also operates in the processed product segment, announces its results for the third quarter of 2022. Financial and operational information is presented in BRGAAP, in Reais (R$), according to International Financial Reporting Standards (IFRS).

EBITDA for the third quarter of this year reached a record R$ 806,2 million, a significant increase of 24,4% on the previous year, with an EBITDA margin of 9,6%. In the last twelve months, EBITDA was R$ 3 billion, up by 29,2% year on year, and the highest level ever recorded by the company, with an EBITDA margin of 9,4%.

The highlight in 3Q22, net leverage in the period measured by the Net Debt/EBITDA multiple for the last 12 months, ended the quarter at 2,18x - the lowest level since 2008, confirming the strength of Minerva Foods' capital structure.

The company's net revenue totaled R$ 8,4 billion in 3Q22, up by 14,5% year on year. In the last 12 months ended September 2022, Minerva Foods' net revenue totaled R$ 31,6 billion, up by 25,8% compared with LTM3Q21 (LTM: Last Twelve Months).

In the period, Net Income was R$ 141,5 million, accumulating R$ 680,7 million in the year, and totaling R$ 831 million in the last...