JBS : MINUTES OF THE BOARD OF DIRECTORS’ MEETING HELD ON DECEMBER 16, 2020

JBS S.A.

Corporate Taxpayer's ID (CNPJ/ME): 02.916.265/0001-60

Company Registry (NIRE): 35.300.330.587

Authorized Capital Publicly Held Company

EXCERPT OF THE MINUTES OF THE BOARD OF DIRECTORS' MEETING

HELD ON DECEMBER 16, 2020 AT 10:00 A.M.

Date, Time and Venue: meeting of the Board of Directors of JBS S.A., located at Avenida Marginal Direita do Tietê, 500, Bloco I, 3º Andar, Vila Jaguara, CEP 05118-100, in the city and state of São Paulo ("Company"), held on December 16, 2020, at 10:00 a.m. via video conferencing.

Call notice: The call notice was sent via e-mail to all members of the Board of Directors, pursuant to article 18 of the Company's Bylaws.

Attendance: The necessary quorum for the Board of Directors' Meeting was verified, given the presence of all the members of the Board of Directors, pursuant to articles 15 and 18 of its Bylaws, namely: Jeremiah O'Callaghan (Chairman), José Batista Sobrinho (Vice-Chairman) (by vote delegated to the Chairman of the Board of Directors), Wesley Mendonça Batista Filho, Aguinaldo Gomes Ramos Filho, Gilberto Meirelles Xandó Baptista, Alba Pettengill, José Guimarães Monforte, Márcio Guedes Pereira Júnior and Gelson Luiz Merisio.

Messrs. Gilberto Tomazoni, CEO, Guilherme Perboyre Cavalcanti, Chief Finance and Investor Relations Officer, and Daniel Pitta, Legal Officer, also attended the meeting.

Presiding: Jeremiah O'Callaghan, Chairman; Milena Hitomi Yanagisawa, Secretary.

Agenda: (i) presentation, discussion and resolution on the cancellation of treasury shares without reducing the Company's share capital; (ii) presentation, discussion and resolution on the 2021 meetings agenda of the Company's Board of Directors and Committees; and (iii) presentation, discussion and resolution on the Company's budget for 2021.

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Discussions and Resolutions:

1. Messrs. Gilberto Tomazoni, André Nogueira and Wesley Mendonça Batista Filho jointly presented the Company's annual budget for 2021 to the Board members, which included the investments, assumptions and conditions precedent of all of the business units and subsidiaries included in the presentations to the Board of Directors, whose copy is filed at the
   Company's headquarters ("2021 Budget").

After the presentations, the Board members discussed the information offered and asked questions to the executive officers about the 2021 Budget, all of which were duly clarified. After analysis and discussions on the 2021 Budget, the Board members unanimously approved, with no reservations, the 2021 Budget;

1. then, Mr. Daniel Pitta presented the effects and the rationale for the cancellation of all of the Company's shares held in treasury. The Board members discussed the information presented and asked questions, all of which were duly clarified. Based on the analysis and discussions, the Board members unanimously approved the cancellation of the balance of the shares currently held in treasury, in the total amount of forty-two million, seven hundred and five thousand, three hundred and seventy-seven (42,705,377) common shares with no par value issued by the Company, without reducing its Share Capital.

In view of the cancellation of the shares resolved hereto, the Company's share capital is now divided into two billion, six hundred and twenty-three million, three hundred and seventy-three thousand, six hundred and forty-six (2,623,373,646) registered, book-entry common shares with no par value. Accordingly, article 5 of the Company's Bylaws that addresses the Company's share capital shall be adjusted at the next General Meeting to be called by the Company. Mr. Daniel Pitta emphasized that the share buyback plan continues in effect, respecting the limits set forth in CVM Instruction 567/15.

1. then, the Board members approved the 2021 meetings agenda of the Company's Board of Directors and Committees, as per the proposal, which is filed at the Company's headquarters.

Finally, the Board members ratified the 2020 Annual Training of the Code of Ethics and Conduct ("Compliance Training") held by Mr. José Marcelo Martins Proença, Chief Compliance Officer, on December 1 and 3, 2020, to all Board members, highlighting (a) the improvement of the

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Company's Code of Ethics and Conduct in 2020; (b) the status of the annual training of the Code of Ethics and Conduct in 2020, presenting the volume of approvals per business and informing that the training is being expanded to include the Company's business partners, especially its cattle breeders and associates. The Board members discussed and resolved any doubts regarding the Compliance Training held, and Mr. José Marcelo Martins Proença answered all the questions raised by the Board members.

The Executive Officers and/or attorneys-in-fact of the Company, its controlled entities, affiliates and/or subsidiaries are hereby authorized to take all and any measures, perform the acts and sign all documents necessary to implement the aforementioned resolved and approved items, as well as ratify all acts already performed by the Officers and/or attorneys-in-fact in this regard.

Minutes in Summary Form: The Board of Directors approved the drawing up of these minutes in summary form and their publication omitting the signatures, pursuant to paragraphs 1 and 2 of article 130 of Brazilian Corporate Law.

Closure: There being no further business to discuss, the Chairman offered the floor to anyone who intended to speak and, as no one did, the meeting was adjourned for the time necessary to draw up these minutes, which were then read, approved and signed by all attendees.

Attending Members: Jeremiah O'Callaghan, José Batista Sobrinho, Wesley Mendonça Batista Filho, Aguinaldo Gomes Ramos Filho, Gilberto Meirelles Xandó Baptista, Alba Pettengill, José Guimarães Monforte, Márcio Guedes Pereira Júnior and Gelson Luiz Merisio. Presiding Board: Jeremiah O'Callaghan, Chairman; Milena Hitomi Yanagisawa,

Secretary.

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This is a free English translation of the resolutions of the minutes drawn up in the

Company's books.

São Paulo, December 16, 2020.

Jeremiah Alphonsus O'Callaghan	Milena Hitomi Yanagisawa
Chairman	Secretary

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