Pilgrim's Pride (PPC) Proxy filing summary

Executive summary

• Achieved net sales of $18.5 billion, net income of $1.1 billion, and Adjusted EBITDA of $2.3 billion (12.3% margin) for fiscal 2025.

• U.S. operations saw strong demand, especially in Prepared Foods, with Just Bare® retail sales up over 50% year-over-year.

• European segment expanded Key Customer partnerships and launched over 2,000 new products, with brand growth outpacing category averages.

• Mexico delivered solid performance, with branded sales rising nearly 9% compared to last year.

• Nearly $2.0 billion in special dividends paid and net leverage ratio maintained below 1.1x Adjusted EBITDA.

Voting matters and shareholder proposals

• Election of eight JBS Directors and two Equity Directors.

• Advisory vote on executive compensation (Say-on-Pay).

• Ratification of KPMG LLP as independent auditor for 2026.

• Shareholder proposals: report on internal diversity and inclusion policies, and political spending disclosure; Board recommends voting against both.

Board of directors and corporate governance

• Board consists of ten members: eight JBS Directors and two Equity Directors, with defined nomination processes.

• Board leadership structure separates CEO and Chairman roles.

• Five standing committees: Audit, Compensation, JBS Nominating, Equity Nominating, and Sustainability.

• Majority of directors are independent per Nasdaq rules.

• Directors receive annual cash retainers and RSUs; committee chairs receive additional compensation.