On August 18, 2026, the board of directors (the "Board") of Pilgrim’s Pride Corporation (the "Company") received an unsolicited proposal (the "Proposal") from its majority stockholder JBS N.V. ("JBS") to acquire all of the outstanding shares of common stock of the Company not already owned by JBS or its subsidiaries for a fixed exchange ratio of 2.086 JBS Class A common shares for each share of Company common stock, based on the JBS and Company closing share prices on August 18, 2026 of $13.66 and $28.49, respectively. A copy of the Proposal is attached hereto as Exhibit 99.1 and incorporated herein by reference. The Board will be forming a special committee of the Board to review and evaluate the Proposal. There is no assurance that the Proposal will result in the consummation of the transaction contemplated by the Proposal or any other transaction.