Minerva Beef

The Project with Minerva S.A. (“Minerva”), the third largest meat processor in Brazil, supports the implementation of a regional expansion program and address the environmental and social impacts of cattle ranching in Brazil. Minerva is undertaking an investment plan over the next four years to: (1) expand the processing and slaughtering operations in South America, more specifically in Brazil, Uruguay, and Paraguay; (2) potentially develop a slaughtering plant in Colombia; (3) construct, acquire and/or lease six distribution centers across Brazil; and (4) expand the processing capacity of the Minerva Dawn Farms plant in Brazil (the “Project”).