JBS S.A. Corporate Taxpayer ID (CNPJ/MF): 02.916.265/0001-60 Company Registry (NIRE): 35.300.330.

587 EXERPT FROM THE MINUTES OF THE FISCAL COUNCILS MEETING HELD ON MARCH 19, 2014 Date, Time and Venue: March 19, 2014, at 8:30 a.m., at the headquarters of JBS S.A. (Company), located at Avenida Marginal Direita do Tiet, 500, Bloco I, 3 andar, Vila Jaguara, CEP 05118-100, in the City and State of So Paulo. Call Notice: The call notice was sent on March 7, 2014, via email to members of the Fiscal Council, pursuant to Article 12 of the Fiscal Councils Charter. Attendance: All members of the Companys Fiscal Council attended the Meeting, representing the quorum necessary to install the Meeting. Messrs. Eliseo Santiago Perez Fernandez, Administration and Control Officer, Jeremiah Alphonsus OCallaghan, Investor Relations Officer, and Agnaldo dos Santos Moreira Jr., Accounting Manager, also attended the meeting. Messers. Paulo Tuffani, Alcides Neto and Luis Tenrio attended the meeting representing BDO RCS Auditores Independentes (BDO). Presiding Board: Florisvaldo Caetano de Oliveira, Chairman; and Milena Hitomi Yanagisawa, Secretary. Agenda: (i) To provide an update on the Companys situation and perspectives related to its main activities; (ii) To analyze, discuss and resolve on the Annual Management Report and the Companys Financial Statements for fiscal year ended December 31, 2013 (Financial Statements); and (iii) To analyze, discuss and resolve on the proposal of allocation of net income for fiscal year 2013, in accordance with the Management Proposal. Resolutions: (i) The Companys Investor Relations Officer Jeremiah Alphonsus OCallaghan made a presentation on the Companys situation and perspectives, including an overview of the Companys operations in 2013;

(ii) Subsequently, and after receiving copies of the Financial Statements and the Annual Management Report for fiscal year ended December 31, 2013 prepared by the Company's Management, the Fiscal Council members received the following clarifications: (a) by the Companys Administration and Control Officer Eliseo Santiago Perez Fernandez and (b) by Paulo Tuffani, representing the independent audit firm BDO, who announced that the independent auditors duly concluded their work, issuing an unqualified report, and that there is no matter not reflected in the Financial Statements that should be acknowledged by the Fiscal Council. In view of the above, the Fiscal Council members affirmed that there are no restrictions or reservations regarding the Financial Statements and Annual Management Report; and (iii) After receiving a copy of the Management Proposal and analyzing it, the Fiscal Council members approved the proposal of allocation of net income for the fiscal year 2013. Closure and drawing up of the minutes: There being no further business to discuss, the Chairman offered floor, which was declined. The meeting was then adjourned for the drawing up of these minutes, which were read, approved and signed by all attending Board members. These minutes were drawn up in summary format, pursuant to Article 130, paragraph 1 of Brazilian Corporate Law. Attending Members: Florisvaldo Caetano de Oliveira, Demetrius Nichele Macei, Sandro Domingues Raffai and Luis Eduardo Frisoni Jnior. This is a free English translation of the original minutes drawn up in the Companys records. So Paulo, March 19, 2014.

Milena Hitomi Yanagisawa Secretary