Income taxes (Tables)


	September 30, 2026	December 31, 2025
Deferred income tax assets	699,386	547,014
Deferred income tax liabilities	(1,201,395)	(1,169,300)
	(502,009)	(622,286)


	Balance at January 1, 2026	Income statement	Exchange variation	Other adjustments (1)	Balance at September 30, 2026
Tax loss and negative social contribution base	684,003	44,819	28,742	(4,109)	753,455
Expected credit losses on trade accounts receivable	40,098	(13,201)	987	—	27,884
Provision for contingencies	81,251	(10,121)	4,293	—	75,423
Fair value adjustment	(171,114)	89,853	(4,009)	—	(85,270)
Tax credits - Foreign subsidiaries	4,062	150	(31)	—	4,181
Share-based payment	—	(329)	329	—	—
Provision for work accident insurance - Foreign subsidiaries	12,805	5,203	—	—	18,008
Pension plan - Foreign subsidiaries	2,451	(493)	(14)	(152)	1,792
Trade accounts payable accrual	273,051	14,869	3,104	—	291,024
Interest portion to be deductible	320,200	120,828	—	—	441,028
Right of use assets	31,567	6,581	1,297	—	39,445
Goodwill amortization	(847,103)	2,080	(47,206)	—	(892,229)
Business combinations	(491,382)	16,996	(1,456)	(549)	(476,391)
Inventory valuation	(53,021)	(73,568)	4,207	—	(122,382)
Hedge operations	41,705	(18,814)	2,390	547	25,828
Realization of other reserves	(96,535)	2,202	(6,003)	—	(100,336)
Accelerated depreciation and amortization	(528,502)	(57,020)	(4)	—	(585,526)
Cut off adjustments (sales)	16,891	20,299	1,135	—	38,325
Other temporary differences	57,287	(19,790)	6,235	—	43,732
Deferred taxes, net	(622,286)	130,544	(6,004)	(4,263)	(502,009)

(1) The adjustments relate primarily to the assignment of tax losses and negative tax bases from the indirect subsidiary Seara Alimentos to JBS S.A., utilized to settle tax assessments levied for third-party social security contributions on profit-sharing payments made by the company to its executives between 2012 and 2016, as well as deferred taxes on Cash flow hedge transactions recognized in other comprehensive income by the subsidiary Seara Alimentos and the pension plan in the United States of America.


	Balance at January 1, 2025	Income statement	Exchange variation	Other adjustments	Balance at September 30, 2025
Tax loss and negative social contribution base	679,275	74,199	61,927	(191,303)	624,098
Expected credit losses on trade accounts receivable	42,304	(9,833)	3,970	—	36,441
Provisions for contingencies	94,487	(6,265)	11,143	—	99,365
Fair value adjustment	(105,836)	(14,833)	(9,281)	—	(129,950)
Tax credits - Foreign subsidiaries	8,798	(88)	(79)	—	8,631
Provision for work accident insurance - Foreign subsidiaries	8,964	(4,446)	—	—	4,518
Pension plan - Foreign subsidiaries	3,209	4,740	(80)	(3,224)	4,645
Trade accounts payable accrual	249,853	37,794	7,270	—	294,917
Non-deductible interests portion - U.S. tax reform	279,572	84,158	1	—	363,731
Right of use assets	25,967	1,036	3,092	—	30,095
Goodwill amortization	(727,377)	(29,175)	(103,271)	—	(859,823)
Business combination	(465,917)	(15,989)	(5,640)	(912)	(488,458)
Inventory valuation	(83,507)	(13,298)	9,897	—	(86,908)
Hedge operations	45,961	(6,648)	6,704	19	46,036
Realization of other reserves	(88,113)	1,922	(14,356)	—	(100,547)
Accelerated depreciation and amortization	(479,922)	(4,985)	(2)	—	(484,909)
Cut-off adjustment (sales)	15,274	1,433	2,644	—	19,351
Other temporary differences	52,895	25,506	(21,268)	—	57,133
Deferred taxes, net	(444,113)	125,228	(47,329)	(195,420)	(561,634)


	Nine-month period ended September 30,				Three-month period ended September 30,
	2026		2025		2026		2025
Profit (loss) before taxes	282,748		2,245,943		196,139		815,341
Brazilian statutory corporate tax rate	(34)	%	(34)	%	(34)	%	(34)	%
Expected tax expense (benefit)	(96,134)		(763,621)		(66,687)		(277,216)

Adjustments to reconcile taxable income tax expense (benefit):
Share of profit of equity-accounted investees	1,137		5,103		(3,893)		1,520
Non-taxable tax benefits	186,829		165,056		65,996		58,032
Difference of tax rates on taxable income from foreign subsidiaries	(1,141)		96,902		19,364		49,938
Profits taxed by-foreign jurisdictions	(11,657)		(37,591)		3,068		44,406
Current year deferred taxes not recognized and deferred taxes recognized from prior years	(31,088)		86,093		(16,141)		10,026
Dividends paid abroad	—		(10,809)		—		(10,809)
Non-taxable interest - Foreign subsidiaries	9,813		9,414		3,232		3,151
Donations and social programs	(1,816)		—		11		—
SELIC interest on tax credits	4,291		33,946		2,985		2,631

Brazilian tax incentive law - Lei do Bem	—		1,397		—		—
Other permanent differences	(8,709)		(37,060)		(15,216)		(52,896)
Current and deferred income tax benefit (expense)	51,525		(451,170)		(7,281)		(171,217)

Current income tax	(79,019)		(576,398)		(27,148)		(185,942)
Deferred income tax	130,544		125,228		19,867		14,725
	51,525		(451,170)		(7,281)		(171,217)
Effective income tax rate	18.22	%	(20.09)	%	(3.71)	%	(21.00)	%