Camil Alimentos S A : Dados Econômico-Financeiros

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

www.pwc.com.br

(A free translation of the original in Portuguese)

Camil Alimentos S.A.

Parent company and consolidated financial statements at February 29, 2024

and independent auditor's report

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

(A free translation of the original in Portuguese)

Independent auditor's report

To the Board of Directors and Shareholders

Camil Alimentos S.A.

Opinion

We have audited the accompanying parent company financial statements of Camil Alimentos S.A. (the "Company"), which comprise the statement of financial position as at February 29, 2024 and the statement of profit or loss, comprehensive income, changes in equity and cash flows for the year then ended, as well as the accompanying consolidated financial statements of Camil Alimentos S.A. and its subsidiaries ("Consolidated"), which comprise the consolidated statement of financial position as at February 29, 2024 and the consolidated statement of profit or loss, comprehensive income, changes in equity and cash flows for the year then ended, and notes to the financial statements, including material accounting policies and other explanatory information.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company and of the Company and its subsidiaries as at February 29, 2024, and the financial performance and the cash flows for the year then ended, as well as the consolidated financial performance and the cash flows for the year then ended, in accordance with accounting practices adopted in Brazil and with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB)) (currently described as "IFRS Accounting Standards" by the IFRS Foundation).

Basis for opinion

We conducted our audit in accordance with Brazilian and International Standards on Auditing. Our responsibilities under those standards are further described in the "Auditor's responsibilities for the audit of the parent company and consolidated financial statements" section of our report. We are independent of the Company and its subsidiaries in accordance with the ethical requirements established in the Code of Professional Ethics and Professional Standards issued by the Brazilian Federal Accounting Council, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Key Audit Matters

Key Audit Matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the parent company and consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Matters

Why it is a

Key Audit

Matter

How the matter was addressed

PricewaterhouseCoopers Auditores Independentes Ltda., Avenida Brigadeiro Faria Lima, 3732, Edifício B32, 16oSão Paulo, SP, Brasil, 04538-132

T: [phone], www.pwc.com.br

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

Camil Alimentos S.A.

Why it is a Key Audit Matter	How the matter was addressed in the audit

Projections used in assessing the impairment of goodwill and intangible assets with indefinite useful lives (Notes 2.2, 2.18, 9 and 12)

The Company recorded in its intangible assets amounts paid for trademarks and patents acquired in the amount of R$ 601,691 thousand in the Consolidated (R$ 379,429 thousand in the Parent Company) and goodwill to reflect the synergy and expected future profitability from business acquisitions in the amount of

R$ 406,320 thousand in the Consolidated

(R$ 185,152 thousand in the Parent Company), both arising from a business combination.

The Company tested the recoverable amount of goodwill and intangible assets with indefinite useful lives using the value-in-use model, which consists of determining the net present value of future cash flows of each of the Cash-Generating Units (CGUs), based on projections that include assumptions and data that involve significant judgments, including the growth rate and the discount rate.

We treated this as key audit matter because, in addition to the materiality of the balances, it involves critical estimates and judgments by the Company's management in determining the appropriate assumptions and projections. Had a different set of variables been selected by management, these might have presented significantly different prospects for the recovery of CGU balances, with a consequential impact on the parent company and consolidated financial statements.

Our audit procedures included, among others, understanding and testing the internal controls established by management to measure the recoverable amount, the valuation methodology, the assumptions and data used in the calculation, as well as the criteria adopted to define the cash- -generating units.

Together with our valuation specialists, we analyzed the reasonableness and consistency of the calculation model that management used to prepare the projections, as well as the data and assumptions used to prepare the cash flows, such as growth rates and discount rates, through comparisons with economic and sectoral forecasts, considering the cost of capital for the Company and comparable entities.

We tested the mathematical accuracy of the calculations and the data for the main assumptions used in the cash flow projections.

We reviewed the sensitivity analysis prepared by the Company for the main assumptions in the projections, in order to evaluate the results from the perspective of different possible scenarios.

Based on our audit procedures, we consider that the assumptions and data used, the methodology for assessing the recoverable amount, as well as the disclosures, are consistent with the evidence obtained by us.

Assessment and disclosure of tax risks (Notes 2.8.1, 2.19, 18.2 and 20.2)

The Company and its subsidiaries are defendants in tax lawsuits and administrative proceedings. At February 29, 2024, contingencies classified as probable losses and provisions for uncertain tax positions total R$ 893,063 thousand in the Consolidated and R$ 886,778 thousand in the Parent Company. Management, under the advice of outside legal counsel, estimates the likely outcomes and impacts for these various matters

Our audit procedures included, among others, understanding management's internal controls used to identify, classify, measure, record and disclose provisions and uncertain income tax treatments, as well as to monitor the progress of the lawsuits and legal precedents. We obtained direct confirmation from the internal and outside legal counsel responsible for monitoring the lawsuits in the administrative and judicial courts.

3

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

Camil Alimentos S.A.

Why it is a Key Audit Matter	How the matter was addressed in the audit

and recognizes a provision when it is probable cash outflows will occur.

For cases classified as having a possible risk of loss, and when management, under the advice of legal counsel, believes that once a final ruling is issued by the higher courts for income tax and social contribution cases, its position will prevail, no contingency provision is recorded though full disclosures are provided in the notes to the financial statements.

The determination of the likelihood of loss and estimates of amounts depend on management's judgment of subjective matters including interpretation of case law. Had a different set of variables been selected by management, these might have presented significantly balances and disclosures in the Company's financial statements. Therefore, this was considered a key audit matter.

For the more significant cases, with the support of our legal experts, we discussed with management the reasonableness of the loss prognosis and, for income tax uncertainties, the agreement with the tax treatment adopted by the Company and its subsidiaries.

On a sample basis, we tested the calculations of the amounts involved and evaluated whether the disclosures are consistent with the supporting documentation and the relevant accounting standards. We read the related disclosures in the notes to the financial statements.

We consider that the criteria and assumptions adopted by management to determine the provisions and disclosures to be consistent with the information obtained during our audit.

We consider that the criteria and assumptions adopted by the management to determine the provisions and disclosures to be consistent with the positions of the external lawyers.

Restrictive clauses (covenants) applicable on loans, financing and debentures (Notes 2.10 and 16)

On February 29, 2024, the Company presents balances of loans, financing and debentures ("debts"), in the total amount of R$ 5,486,034 thousand in Consolidated and R$ 4,816,738 thousand in the Parent Company.

The respective covenants are measured based on the year end consolidated financial statements of the Company.

Failure to comply with the covenants could result in the early maturity of the entire balance and, consequently, the full reclassification to current liabilities.

Our audit procedures included, among others:

• Obtaining letters of confirmation from financial institutions as to the debt balances.
• Reading the restrictive clauses for the covenants pertaining to the loan, financing and debenture agreements, including contractual amendments, and reviewing management's calculation of the covenants ratios.
• Reading the information disclosed in notes to the financial statements.

Because of the potential effects on the financial statements, we treated management's monitoring and the Company's compliance with the covenants as a key audit matter.

We consider that the information disclosed in the individual financial statements and consolidated, are consistent with those analyzed in our audit.

4

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

Camil Alimentos S.A.

Other matters

Statements of Value Added

The parent company and consolidated Statements of Value Added for the year ended February 29, 2024, prepared under the responsibility of the Company's management and presented as supplementary information for IFRS Accounting Standards purposes, were submitted to audit procedures performed in conjunction with the audit of the Company's financial statements. For the purposes of forming our opinion, we evaluated whether these statements are reconciled with the financial statements and accounting records, as applicable, and if their form and content are in accordance with the criteria defined in Technical Pronouncement CPC 09 - "Statement of Value Added". In our opinion, these Statements of Value Added have been properly prepared in all material respects, in accordance with the criteria established in the Technical Pronouncement, and are consistent with the parent company and consolidated financial statements taken as a whole.

Other information accompanying the parent company and consolidated financial statements and the auditor's report

The Company's management is responsible for the other information that comprises the

Management Report.

Our opinion on the parent company and consolidated financial statements does not cover the Management Report, and we do not express any form of audit conclusion thereon.

In connection with the audit of the parent company and consolidated financial statements, our responsibility is to read the Management Report and, in doing so, consider whether this report is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement in the Management Report, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of management and those charged with governance for the parent company and consolidated financial statements

Management is responsible for the preparation and fair presentation of the parent company and consolidated financial statements in accordance with accounting practices adopted in Brazil and with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) (currently described as "IFRS Accounting Standards" by the IFRS Foundation), and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the parent company and consolidated financial statements, management is responsible for assessing the ability of the Company and its subsidiaries, as a whole, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company and its subsidiaries, as a whole, or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company's financial reporting process.

5

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

Camil Alimentos S.A.

Auditor's responsibilities for the audit of the parent company and consolidated financial statements

Our objectives are to obtain reasonable assurance about whether the parent company and consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Brazilian and International Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with Brazilian and International Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the parent company and consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control of the Company and its subsidiaries.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company and its subsidiaries, as a whole, to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the parent company and consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company and its subsidiaries, as a whole, to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the parent company and consolidated financial statements, including the disclosures, and whether these financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the parent company and consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

6

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

Camil Alimentos S.A.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats to our independence or safeguards applied.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the Key Audit Matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

São Paulo, May 9, 2024

PricewaterhouseCoopers

Auditores Independentes Ltda.

CRC 2SP000160/O-5

Renato Barbosa Postal

Contador CRC 1SP187382/O-0

7

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

(A free translation of the original in Portuguese)

Our Management Report and the Financial Statements of Camil Alimentos S.A. ("Camil" and "Company") is submitted herewith for the years ended on February 29, 2024 ("2023") and February 28, 2023 ("2022"), accompanied by the respective Explanatory Notes and the Independent Auditors' Report. The information presented is also available on Camil's Investor Relations website (http://www.camil.com.br/ri) and on the website of the Brazilian Securities Commission - CVM (http://www.cvm.gov.br).

Description of the Company Businesses

The Company is a publicly-held corporation listed on the Novo Mercado segment of B3, the Brazilian stock market, under the ticker symbol "CAML3", the highest level of governance of B3. Camil Alimentos is a Brazilian multinational with a multi-category food platform in Latin America. The Company's businesses are focused on the processing, production, packaging and marketing of leading brands with market recognition that include products in the categories of grains, sweets, canned fish (sardines and tuna), pasta, coffee, biscuits, healthy products, among other foods, segregated into two segments: Brazil and International, operating in Brazil, Uruguay, Chile, Peru and Ecuador.

The Company's activities began in 1963 in Brazil and, since then, it has been expanding both organically and through acquisitions of companies and brands of food products in South America. Currently, Camil has a portfolio of leading brands with high market recognition, including Camil, União, Coqueiro, Santa Amália and Mabel in Brazil, Saman and La Abundancia in Uruguay, Tucapel in Chile, Costeño in Peru and Rico Arroz in Ecuador. In addition to the main brands, the Company's portfolio includes several other regional brands, with a focus on serving different consumer niches in the regions and countries in which it operates.

1

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

Message from the Management

Before discussing the results of the period, we must express our deep sadness and solidarity with the victims of the recent rain and floods that have devastated the State of Rio Grande do Sul in the past weeks. We are aware of the challenges that our colleagues and partners are facing in the region, and we want them to know that we stand with them. The Company's production plants were not impacted, and production continues normally, but we are mobilizing resources and efforts to help those who need it most. May we, together, find the strength to rebuild our communities.

Moving on to the results of the period, for decades Camil Alimentos has been consolidating as one of the largest food brand platforms in South America. We have increasingly emphasized the importance of a diversified platform, and the numbers for the quarter and the year reaffirm our position. In 2023, Camil Alimentos achieved remarkable results, highlighted by a record gross revenue of R$12.9 billion and a record net revenue of R$11.2 billion, both showing growth of over +10% YoY. The EBITDA for the period was also record-breaking, reaching R$914 million, an increase of 17% compared to the Adjusted EBITDA of 2022. These results demonstrate the efficiency of our operations and new categories we entered in the previous year, resulting from strategic acquisitions that have proved to be successful.

In the High Growth category, which includes seafood, pasta, coffee, and biscuits, we reported a 25% volume growth compared to the previous year, primarily due to our entry into the biscuit category and consistent growth in volumes of roasted and ground coffee. In the pasta segment, we highlight the excellent profitability throughout the year, with results above the consolidated average. We have worked on expanding pasta production capacity last year and are prepared and focused on executing sales expansion to increase the category's share in the Camil portfolio. In coffee, we continue with the União brand's positioning growing our market share by over 4% in the São Paulo and Rio de Janeiro regions. The capacity expansion of the category was completed in 2023. União coffee expanded its portfolio and has reached all its Brazil markets with new versions of packaging suited to consumer preferences, including 250g pouch and 500g vacuum packs. In the biscuits business, the acquisition of Mabel initially presented operational challenges, however, in 2023, it quickly delivered excellent results, showing growth associated with profitability in the category. With the expansions in pasta and coffee, in addition to the biscuit operation, which has the capacity to double in size in sales, we believe we are well-positioned to drive sales expansion opportunities in the High Growth categories for our business - both in volume and in profitability expansion.

In the high turnover category, consisting of grains in Brazil and sugar, the results were boosted by the rise in rice prices in the second half of 2023. Sugar, on the other hand, operated below potential this year. We operate in the sugar retail market in a challenging scenario, and we have taken measures to minimize these effects, as observed in the sugar volumes with the continuation of export operations. Internationally, we made investments in Peru and Chile and improved profitability shown in the last quarters. In Peru, we modernized the mill and expanded the storage capacity. In Chile, Tucapel began transferring and modernizing the Santiago unit to a new, larger location, which will bring us greater productivity and efficiency.

In 2023, the Company has spared no effort to optimize its costs and expenses under a review plan. We carried out projects to improve tax and logistics efficiency, as well as identified new synergies with the acquired companies and continued to advance on this agenda to increasingly promote synergies and reduce expenses with the acquisitions made and opportunities mapped.

We continued to advance in our ESG agenda, with the main highlight of the year being Camil's entry into the new composition of the Corporate Sustainability Index (ISE) of B3. We continued our social projects, "Grãos da Base," offering medium-term courses for micro-entrepreneurs in vulnerable regions, and the "Doce Futuro" social project, focused on training and equipping confectioners in the São Paulo region, which was recently expanded to Rio de Janeiro. Environmentally, we expanded the promotion of circular economy in our operations, investing in eco-efficiency, with an emphasis on generating energy from incinerating rice husks and the responsible management of water and waste. These highlights reinforce the Company's commitment to contributing to the sustainable development of businesses, the planet, and the creation of shared value.

2

DocuSign Envelope ID: A3D5997D-729F-4940-9956-0DFD4F52514C

The year 2023 was special, marked by the 60th anniversary of Camil, a story of entrepreneurship and growth in Latin America. As a solid company, with a High Growth product mix and a geographical presence with categories and brands widely recognized by consumers in all the countries we operate in, we increasingly reinforce our internal structure and product platform, confident that the Company is on the right path to consolidate its position in the South American food industry.

Luciano Quartiero	Flavio Vargas
Chief Executive Officer	Chief Financial and Investor Relations Officer

3