JBS N.V.

Ticker: JBS CUSIP: N4732M103 Class: Common Stock

Graham Capital Management, L.P.'s Holding History (CIK: 0001315421)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 150,000 Value ($000) $2,163 Avg Close $13.74 Range $12.37 - $15.16

Q3 2025

Shares 32,263 Value ($000) $482 Avg Close $14.58 Range $12.83 - $17.80

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	150,000	$2,163	$13.74	$12.37 - $15.16
Q3 2025	32,263	$482	$14.58	$12.83 - $17.80