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Ownership Breakdown


The following table sets forth the principal holders of Marfrig outstanding common shares and their respective shareholdings:

Shareholders Shares %
(1) Controlling Shareholders 217,290,591 34.97%
(1) Board of Directors 149,456 0.02%
(1) Statutory Board 169,728 0.03%
Treasury Shares 1,170,902 0.19%
(2) BNDES Participações S.A. 202,152,194 32.54%
Brandes Investment Partners 54,423,712 8.76%
Others 145,923,237 23.49%
TOTAL* 621,279,822 100.00%

(1) Acording to CVM Rule 358 - April 2017
(2) Acording to Notice to the Market 02/Feb/2017

Note: Controlling Shareholders' group consists of MMS Participações Ltda. and its members individually. The MMS Participações Ltda. is controlled by Marcos Antonio Molina dos Santos and Marcia Aparecida Pascoal Marcal dos Santos, each with 50% stake.
* Capital Increase due to the Debentures Conversion according to BDM held on January 26, 2017