If You Invested in BRF SA (BRFS)

BRF S.A. (BRFS) is a sociedade anônima (corporation) organized under the laws of the Federative Republic of Brazil. According to its industry classification, BRF operates in the animal (except poultry) slaughtering segment within the broader manufacturing sector. The company is identified in U.S. capital markets through American Depositary Shares, each representing one common share.

BRF has been listed on the New York Stock Exchange under the symbol BRFS through American Depositary Shares and has also filed annual reports with the U.S. Securities and Exchange Commission (SEC) on Form 20-F. These filings, together with disclosures to the Brazilian Securities Commission (CVM), provide investors with audited financial statements and other regulatory information about the company.

According to public disclosures, BRF is a Brazilian food processing company with a portfolio that includes more than 30 brands. Names cited in available descriptions include Sadia, Perdigão, Qualy, Paty, Dánica and Bocatti. BRF’s products are described as being sold in over 150 countries across five continents, which indicates an international commercial footprint for its food processing activities.

BRF’s principal executive offices are located in São Paulo, in the state of São Paulo, Brazil. In multiple SEC and news documents, the company provides a São Paulo address and telephone contact details as its main corporate location, underscoring its identity as a Brazilian-based issuer with international debt and equity investor relations.

Business profile and capital markets activity

BRF’s presence in international capital markets is reflected in several transactions involving its senior notes. The company has announced cash tender offers for various series of U.S. dollar and euro-denominated senior notes, including 4.875% Senior Notes due 2030, 4.75% Senior Notes due 2024, 4.350% Senior Notes due 2026, 5.875% Senior Notes due 2022, 2.750% Senior Notes due 2022 and 3.95% Senior Notes due 2023. These offers were made pursuant to detailed offer to purchase documents and were supported by dealer managers and tender agents.

Through these tender offers, BRF has managed the profile and outstanding amounts of its international debt securities. Public announcements describe maximum aggregate purchase amounts, acceptance priority levels, early tender dates, expiration dates and settlement dates, as well as the total consideration and early tender premiums offered per unit of principal amount. This activity highlights BRF’s use of global debt markets and liability management tools as part of its financial strategy.

In addition to debt market transactions, BRF has maintained a pattern of filing its Annual Report on Form 20-F with the SEC for multiple years. News releases state that BRF filed Form 20-F for the years ended December 31, 2020, 2021, 2022, 2023 and 2024. These reports are also filed with the CVM in English, with a Portuguese translation made available in Brazil. Shareholders are informed that they may request, free of charge, hard copies of BRF’s complete audited financial statements filed with the SEC.

International footprint and brands

According to available company descriptions, BRF is a Brazilian food processing company whose products are sold in more than 150 countries on five continents. The portfolio is described as containing over 30 brands, including Sadia, Perdigão, Qualy, Paty, Dánica and Bocatti. This suggests that the BRF name is associated with a diversified set of food brands and an extensive geographic reach for its product distribution, even though specific product categories beyond the general food processing context are not detailed in the provided materials.

Regulatory status and U.S. listing

Recent SEC filings show important changes in BRF’s relationship with U.S. public markets. On September 23, 2025, a Form 25 (25-NSE) was filed indicating the removal from listing and/or registration of BRF’s American Depositary Shares from the New York Stock Exchange. The filing states that the exchange and the issuer complied with the applicable rules for voluntary withdrawal of the class of securities from listing and registration on the exchange.

Subsequently, on October 3, 2025, BRF filed a Form 15 (15-12G). This certification and notice relates to the termination of registration under Section 12(g) of the Securities Exchange Act of 1934 or suspension of the duty to file reports under Sections 13 and 15(d). In the Form 15, BRF identifies its common shares, represented by American Depositary Shares, as the class of securities covered by the filing and indicates reliance on Rule 12h-3(b)(1)(i). The approximate number of holders of record as of the certification date is stated as one.

These filings mean that BRF’s American Depositary Shares have been removed from listing on the New York Stock Exchange and that the company has taken steps to terminate or suspend certain U.S. reporting obligations for that class of securities. Investors researching the BRFS symbol in U.S. markets should therefore recognize that the ticker reflects a historical listing and that the company’s current trading activity may be concentrated in other markets, such as the Brazilian exchange identified in news releases (B3: BRFS3).

Ongoing disclosures and corporate governance

Even as BRF has moved to withdraw its ADSs from the NYSE and suspend certain reporting duties, the company continues to appear in SEC filings through Form 6-K reports. These documents reference notices to the market, joint material facts disseminated in Brazil and minutes of meetings of BRF’s board of directors. The exhibits listed in the 6-K filings include joint material facts involving BRF and Marfrig and minutes of board meetings held in September 2025. This indicates that, for specific corporate events, BRF has continued to furnish information to the SEC as a foreign private issuer.

Form 20-F filings, as described in multiple news releases, provide audited financial statements and other disclosures in English, with Portuguese translations filed with the CVM. Shareholders are informed that they may request hard copies of these financial statements at no cost, reinforcing the company’s practice of making its financial reporting accessible to investors who follow BRF through international regulatory channels.

Position within the manufacturing and food processing sector

Within the manufacturing sector, BRF is classified in the animal (except poultry) slaughtering industry. The available description identifies BRF as a Brazilian food processing company with a large portfolio of brands and a global sales footprint. While the specific breakdown of its operations, product lines or customer segments is not detailed in the provided sources, the combination of its industry classification, brand portfolio and global reach situates BRF as an issuer whose activities connect agricultural raw materials and processed food products with markets in Brazil and abroad.

Investors examining BRFS as a historical NYSE symbol can use the company’s SEC filings—particularly Forms 20-F, 6-K, 25 and 15—to understand how BRF has interacted with U.S. capital markets, how it has managed its international debt obligations and how its reporting status has evolved over time.

FAQs about BRF S.A. (BRFS)

• What does BRF S.A. do?
  

  BRF S.A. is described as a Brazilian food processing company in the animal (except poultry) slaughtering industry within the manufacturing sector. It has a portfolio of more than 30 brands and sells products in over 150 countries across five continents, according to available descriptions.

• Where is BRF S.A. based?
  

  BRF identifies its principal executive offices as being located in São Paulo, in the state of São Paulo, Brazil. This location is cited in multiple SEC filings and news releases as the company’s main corporate address.

• On which exchanges has BRF been listed?
  

  News releases refer to BRF’s shares trading on the Brazilian exchange B3 under the symbol BRFS3 and to American Depositary Shares listed on the New York Stock Exchange under the symbol BRFS. Form 25 filings from September 2025 document the removal of BRF’s ADSs from listing and registration on the New York Stock Exchange.

• What brands are associated with BRF?
  

  According to the available company description, BRF’s portfolio includes more than 30 brands. Named examples include Sadia, Perdigão, Qualy, Paty, Dánica and Bocatti. These brands are part of BRF’s food processing activities and are associated with its international presence.

• How global is BRF’s business?
  

  The company description states that BRF’s products are sold in over 150 countries on five continents. This indicates that, while BRF is headquartered in Brazil, it has a broad international commercial footprint for its food products.

• What is BRF’s relationship with U.S. investors?
  

  BRF has issued American Depositary Shares that were listed on the New York Stock Exchange under the symbol BRFS and has filed annual reports on Form 20-F with the SEC for multiple years. It has also conducted international debt offerings and related tender offers for senior notes, which are detailed in several press releases and SEC-related documents.

• What happened to BRF’s NYSE listing?
  

  On September 23, 2025, Form 25 filings were submitted indicating the removal of BRF’s American Depositary Shares from listing and registration on the New York Stock Exchange. The filings state that the exchange and the issuer complied with the rules for voluntary withdrawal of the class of securities from the exchange.

• What is the significance of BRF’s Form 15 filing?
  

  On October 3, 2025, BRF filed Form 15 (15-12G), which is a certification and notice relating to the termination of registration under Section 12(g) of the Securities Exchange Act of 1934 or suspension of the duty to file reports under Sections 13 and 15(d). The filing covers BRF’s common shares represented by American Depositary Shares and indicates reliance on Rule 12h-3(b)(1)(i).

• Does BRF still provide financial statements to investors?
  

  News releases indicate that BRF has filed Annual Reports on Form 20-F with the SEC and the CVM for several years and that shareholders may request, free of charge, hard copies of BRF’s complete audited financial statements filed with the SEC. English versions are filed with the SEC and CVM, and Portuguese translations are made available in Brazil.

• What types of securities has BRF issued in international markets?
  

  BRF has issued various series of senior notes, including 4.875% Senior Notes due 2030, 4.75% Senior Notes due 2024, 4.350% Senior Notes due 2026, 5.875% Senior Notes due 2022, 2.750% Senior Notes due 2022 and 3.95% Senior Notes due 2023. The company has announced cash tender offers for these notes, specifying maximum amounts, total consideration and early tender premiums in its public communications.