# EDGAR Filing Document

**Accession Number:** 0001996862
**File Stem:** 0001628280-25-045046
**Filing Date:** 2025-10
**Character Count:** 35959
**Document Hash:** ef23fe7a62686aa71ce9c56bdbbc7365
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-045046.hdr.sgml**: 20251015

**ACCESSION NUMBER**: 0001628280-25-045046

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20251015

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251015

**DATE AS OF CHANGE**: 20251015

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bunge Global SA
- **CENTRAL INDEX KEY:** 0001996862
- **STANDARD INDUSTRIAL CLASSIFICATION:** FATS & OILS [2070]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** V8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56607
- **FILM NUMBER:** 251393354

**BUSINESS ADDRESS:**
- **STREET 1:** ROUTE DE FLORISSANT 13
- **CITY:** GENEVA
- **STATE:** V8
- **ZIP:** 1206
- **BUSINESS PHONE:** 41 22 592 91 00

**MAIL ADDRESS:**
- **STREET 1:** ROUTE DE FLORISSANT 13
- **CITY:** GENEVA
- **STATE:** V8
- **ZIP:** 1206

?xml version='1.0' encoding='ASCII'? bg-20251015

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**___________________________________**

**FORM 8-K**

**___________________________________**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**October 15, 2025**

Date of Report (date of earliest event reported)

**___________________________________**

**BUNGE GLOBAL SA**

(Exact name of registrant as specified in its charter)

**___________________________________**

**Switzerland**<br>(State of Incorporation)<br>

---

| | |
|:---|:---|
| **000-56607**<br>(Commission File Number) | **98-1743397**<br>(IRS Employer Identification Number) |
| **Route de Florissant 13,**<br>**1206 Geneva, Switzerland** | **N.A** |
| (Address of principal executive offices and zip code) | (Zip Code) |
| **1391 Timberlake Manor Parkway**<br>**Chesterfield, MO** | **63017** |
| (Address of corporate headquarters) | (Zip Code) |
| **(314) 292-2000** | **(314) 292-2000** |
| (Registrant's telephone number, including area code) | (Registrant's telephone number, including area code) |
| **N/A** | **N/A** |
| (Former name or former address, if changed since last report) | (Former name or former address, if changed since last report) |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

**☐** Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

**☐** Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

**☐** Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

**☐** Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

---

| | | |
|:---|:---|:---|
| **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** |
| **<u>Title of each class</u>** | **<u>Trading Symbol</u>** | **<u>Name of each exchange on which registered</u>** |
| **Registered Shares, $0.01 par value per share** | **BG** | **New York Stock Exchange** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company&nbsp;&nbsp;&nbsp;&nbsp;☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 7.01&nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure.**

On October 15, 2025, Bunge Global SA (the "Company") issued a press release announcing that it has changed its segment and volume reporting to align with the Company's value chain operating structure as well as recast its full-year 2025 and second half 2025 outlook to reflect the completion of the combination with Viterra Limited. The primary changes are the realignment of oilseeds operations into oilseeds processing and refining by commodity type resulting in three reportable segments: Soybean Processing and Refining, Softseed Processing and Refining, and Other Oilseeds Processing and Refining. As well as realignment of grain merchandising and milling operations into one reportable segment: Grain Merchandising and Milling. The segment reporting change reflects a corresponding change in how the Company's Chief Executive Officer (its chief operating decision maker) reviews financial information in order to allocate resources and assess performance.

Further, the Company enhanced its volume reporting to align with the new segment reporting structure highlighted above to closely align volume reporting with the Company's primary income-generating activities.

In conjunction with this change, certain prior year amounts have been recast to conform to the new segment and volume reporting structure. These changes have no impact on previously-reported consolidated balance sheets, statements of income (loss), comprehensive income (loss), changes in equity and redeemable noncontrolling interests, or cash flows.

A copy of the press release is attached hereto as Exhibit 99.1. To illustrate the impact of the new segment and volume reporting structure, the recast of certain financial information for the four quarters and fiscal year ended 2024 and the first two quarters of 2025, together with that previously reported, accompanies the press release.

The information in this Item 7.01 and the Exhibit attached hereto are being "furnished" in accordance with General Instruction B.2. of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Item 9.01 Financial Statements and Exhibits**

(d): &nbsp;&nbsp;&nbsp;&nbsp;Exhibits.

---

| | |
|:---|:---|
| <u>Exhibit No.</u> | <u>Description</u> |
| <u>[99.1](newoutlooksegmentvolumerel.htm)</u> | Press Release, dated October 15, 2025 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 15, 2025

---

| | |
|:---|:---|
| **BUNGE GLOBAL SA** | **BUNGE GLOBAL SA** |
| By: | /s/John W. Neppl |
| Name: | John W. Neppl |
| Title: | Executive Vice President, Chief Financial Officer |

---

## Exhibit 99.1

![image_0.jpg](image_0.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

![a2021-03x17_14x56x28.jpg](a2021-03x17_14x56x28.jpg)

---

| | |
|:---|:---|
| Media Contact: | Bunge News Bureau<br>Bunge Global SA<br>636-292-3022<br><u>news@bunge.com</u> |
| Investor Contact:  | Mark Haden<br>Bunge Global SA<br><u>Mark.Haden@bunge.com</u>  |

---

**Bunge Announces Reporting Segment Changes and Recast Outlook**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Changes follow the merger with Viterra to align with the combined company's value chain operating structure**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Provides estimated FY25 adjusted EPS outlook in the range of ~$7.30 to $7.60 for the combined company, reflecting an expected second half adjusted EPS in the range of $4.00 to $4.25**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**• Q3 2025 results to be reported on November 5, 2025**

**St. Louis, MO – Oct. 15, 2025 –** Bunge Global SA (NYSE:BG) today announced that it has changed its segment and volume reporting to align with the Company's value chain operating structure following the completion of Bunge's combination with Viterra Limited ("Viterra"). The Company has also recast its full-year 2025 outlook to reflect the combined company.

Greg Heckman, Bunge's Chief Executive Officer, commented, "We are pleased to announce our new segmentation and supplemental volume reporting, which we believe provides investors with a clear understanding of the key drivers of our combined company's results and value chains.

"We are also updating our full-year 2025 adjusted EPS outlook to include the addition of Viterra to our results following the completion of our combination. Our outlook reflects an estimated result for the third quarter, as well as our current view of the margin and macro environments' potential impact on the fourth quarter. We look forward to providing a more detailed outlook on our third quarter earnings call on Nov. 5."

Beginning with the third quarter 2025, Bunge will present reportable segment results as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Soybean Processing and Refining

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Softseed Processing and Refining

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other Oilseeds Processing and Refining

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Grain Merchandising and Milling

Bunge will also continue to report Corporate and Other results.

The changes in segment reporting are primarily a result of the realignment of oilseeds operations into oilseeds processing and refining by commodity type and combining grain merchandising and milling operations into one reportable segment. The new segment reporting reflects the corresponding change in

------

![image_0.jpg](image_0.jpg)

how the Company's Chief Executive Officer (its chief operating decision maker) reviews financial information in order to allocate resources and assess performance.

Further, Bunge is enhancing volume reporting to align with the new segment reporting structure and with the Company's primary income-generating activities. Volumes will now be reported as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Soybean Processing and Refining** volumes include (1) oilseed volumes processed (crushed) during a reporting period, which approximate sales volumes to third parties during the same period (2) merchandised volumes, which represent sales volumes of soybeans to third-party customers during a reporting period and (3) a supplemental refined oil production volume, which will also be provided representing the total refined volume during a reporting period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Softseed Processing and Refining** volumes include (1) oilseed volumes processed (crushed) during a reporting period, which approximate sales volumes to third parties during the same period (2) merchandised volumes, which represent sales volumes of softseeds to third-party customers during a reporting period and (3) a supplemental refined oil production volume, which will also be provided representing the total refined volume during a reporting period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Other Oilseeds Processing and Refining** volumes represent sales volumes to third-party customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Grain Merchandising and Milling** volumes represent sales volumes to third-party customers.

In conjunction with the changes in segment reporting, certain Bunge standalone prior year amounts have been recast to conform to the new segment and volume reporting structure. These changes have no impact on previously-reported consolidated balance sheets, statements of income (loss), comprehensive income (loss), changes in equity and redeemable noncontrolling interests, or cash flows.

To illustrate the impact of the new segment and volume reporting structure, the recast of certain financial information for the four quarters and fiscal year ended 2024 and first two quarters of 2025, together with the corresponding financial information previously reported, accompanies this press release.

**Outlook**

Bunge's previous full-year 2025 adjusted EPS outlook of approximately $7.75 provided on its second quarter earnings call on July 30, 2025, excluded the impact of its combination with Viterra, which closed on July 2, 2025.

The Company has recast its outlook to reflect the combination with Viterra, including shares issued as part of the transaction less shares repurchased through the third quarter. Taking into account the current margin and macro environment and forward curves as well as estimated third quarter results, Bunge expects full-year 2025 adjusted EPS in the range of approximately $7.30 to $7.60, which reflects an expected second half adjusted EPS in the range of $4.00 to $4.25.

Bunge will provide an updated full-year outlook and related discussion on the market environment, including specific drivers of its outlook, on its third quarter conference call scheduled for Nov. 5, 2025.

------

![image_0.jpg](image_0.jpg)

**Recast Financial Highlights (Bunge Standalone / Pre-merger)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(US$ in millions)** | **Q1 2024** | **Q2 2024** | **Q3 2024** | **Q4 2024** | **Total FY 2024** | **Q1 2025** | **Q2 2025** |
| &nbsp;&nbsp;**Total EBIT** <sup>(a)</sup> | $**433** | $**185** | $**407** | $**767** | $**1792** | $**328** | $**538** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mark-to-market timing differences <sup>(b)</sup> | 182 | 158 | 3 | (180) | 163 | 2 | (128) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain (gains) & charges <sup>(c)</sup> | 61 | 62 | 81 | (142) | 62 | 32 | (117) |
| &nbsp;&nbsp;**Adjusted Total EBIT** <sup>(a)</sup> | $**676** | $**405** | $**491** | $**445** | $**2017** | $**362** | $**293** |
| **Adjusted EBIT, recast for Reporting Segment change** | **Adjusted EBIT, recast for Reporting Segment change** | **Adjusted EBIT, recast for Reporting Segment change** | **Adjusted EBIT, recast for Reporting Segment change** | **Adjusted EBIT, recast for Reporting Segment change** | **Adjusted EBIT, recast for Reporting Segment change** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybean Processing and Refining | $376 | $269 | $286 | $298 | $1229 | $241 | $304 |
| &nbsp;&nbsp;&nbsp;&nbsp;Softseed Processing and Refining | 210 | 147 | 133 | 75 | 565 | 82 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Oilseeds Processing and Refining | 38 | 50 | 63 | 26 | 177 | 23 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;Grain Merchandising and Milling | 91 | 49 | 77 | 147 | 364 | 60 | 29 |
| **Adjusted Segment EBIT** <sup>(a)</sup> | $**715** | $**515** | $**559** | $**546** | $**2335** | $**406** | $**373** |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate & Other  | (39) | (110) | (68) | (101) | (318) | (44) | (80) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Corporate*  | *(79)* | *(106)* | *(92)* | *(105)* | *(382)* | *(56)* | *(81)* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Other*  | *40* | *(4)* | *24* | *4* | *64* | *12* | *1* |
| **Adjusted Corporate & Other EBIT** <sup>(a)(d)</sup> | $**(39)** | $**(110)** | $**(68)** | $**(101)** | $**(318)** | $**(44)** | $**(80)** |
| **Adjusted Total EBIT** <sup>(a)</sup> | $**676** | $**405** | $**491** | $**445** | $**2017** | $**362** | $**293** |
| **Adjusted EBIT, as originally reported**  | **Adjusted EBIT, as originally reported**  | **Adjusted EBIT, as originally reported**  | **Adjusted EBIT, as originally reported**  | **Adjusted EBIT, as originally reported**  | **Adjusted EBIT, as originally reported**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Agribusiness | $487 | $298 | $366 | $364 | $1515 | $268 | $233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Processing* | *411* | *265* | *291* | *241* | *1208* | *207* | *206* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Merchandising* | *76* | *33* | *75* | *123* | *307* | *61* | *27* |
| &nbsp;&nbsp;&nbsp;&nbsp;Refined & Specialty Oils | 204 | 193 | 182 | 160 | 739 | 123 | 116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Milling | 28 | 28 | 13 | 24 | 93 | 15 | 27 |
| **Adjusted Segment EBIT**  | $**719** | $**519** | $**561** | $**548** | $**2347** | $**406** | $**376** |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate & Other  | (43) | (114) | (70) | (103) | (330) | (44) | (83) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Corporate*  | *(79)* | *(106)* | *(92)* | *(105)* | *(382)* | *(55)* | *(82)* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Other*  | *36* | *(8)* | *22* | *2* | *52* | *11* | *(1)* |
| **Adjusted Corporate & Other EBIT** <sup>(d)</sup> | $**(43)** | $**(114)** | $**(70)** | $**(103)** | $**(330)** | $**(44)** | $**(83)** |
| **Adjusted Total EBIT** | $**676** | $**405** | $**491** | $**445** | $**2017** | $**362** | $**293** |

---

*(a)&nbsp;&nbsp;&nbsp;&nbsp;Total earnings before interest and tax ("Total EBIT"), Adjusted Total EBIT, Adjusted Segment EBIT, and Adjusted Corporate and Other EBIT are non-GAAP financial measures. Reconciliations to the most directly comparable U.S. GAAP measures are included below.*

*(b)&nbsp;&nbsp;&nbsp;&nbsp;Mark-to-market timing impact of certain commodity and freight contracts, readily marketable inventories, and related hedges associated with committed future operating capacity and sales. See Bunge's previously issued 2024 and 2025 Quarterly Earnings Press Releases for details.*

*(c)&nbsp;&nbsp;&nbsp;&nbsp;Certain (gains) & charges included in Total EBIT. See Bunge's previously issued 2024 and 2025 Quarterly Earnings Press Releases for details.*

*(d)&nbsp;&nbsp;&nbsp;&nbsp;See Bunge's previously issued 2024 and 2025 Quarterly Earnings Press Releases for further details on Corporate and Other activities. Also, effective January 1, 2025, Bunge's Sugar and Bioenergy segment reporting activity has been reclassified to Corporate and Other. Historically, the Sugar and Bioenergy segment was primarily comprised of our previously owned 50% interest in the BP Bunge Bioenergia joint venture, which was divested in the fourth quarter of 2024. Corresponding prior period amounts have been recast to conform to current period presentation.* 

------

![image_0.jpg](image_0.jpg)

**Supplemental Highlights: Mark-to-Market Timing Differences**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(US$ in millions)** | **Q1 2024** | **Q2 2024** | **Q3 2024** | **Q4 2024** | **Total**<br>**FY 2024** | **Q1 2025** | **Q2 2025** |
| **Mark-to-Market timing differences, recast for Reporting Segment change** | **Mark-to-Market timing differences, recast for Reporting Segment change** | **Mark-to-Market timing differences, recast for Reporting Segment change** | **Mark-to-Market timing differences, recast for Reporting Segment change** | **Mark-to-Market timing differences, recast for Reporting Segment change** | **Mark-to-Market timing differences, recast for Reporting Segment change** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybean Processing and Refining | $233 | $171 | $45 | $(111) | $338 | $(30) | $(156) |
| &nbsp;&nbsp;&nbsp;&nbsp;Softseed Processing and Refining | (6) | (28) | 1 | (64) | (97) |  | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Oilseeds Processing and Refining | (45) | 27 | (41) | 20 | (39) | 18 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;Grain Merchandising and Milling |  | (12) | (2) | (25) | (39) | 14 | (3) |
| **Total Mark-to-market timing differences** | $**182** | $**158** | $**3** | $**(180)** | $**163** | $**2** | $**(128)** |
| **Mark-to-Market timing differences, as originally reported**  | **Mark-to-Market timing differences, as originally reported**  | **Mark-to-Market timing differences, as originally reported**  | **Mark-to-Market timing differences, as originally reported**  | **Mark-to-Market timing differences, as originally reported**  | **Mark-to-Market timing differences, as originally reported**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Agribusiness | $209 | $160 | $25 | $(193) | $201 | $(2) | $(148) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Processing* | *231* | *143* | *53* | *(180)* | *247* | *(26)* | *(155)* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Merchandising* | *(22)* | *17* | *(28)* | *(13)* | *(46)* | *24* | *7* |
| &nbsp;&nbsp;&nbsp;&nbsp;Refined & Specialty Oils | (22) | 8 | (18) | 12 | (20) | 7 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;Milling | (5) | (10) | (4) | 1 | (18) | (3) | 5 |
| **Total Mark-to-market timing differences** | $**182** | $**158** | $**3** | $**(180)** | $**163** | $**2** | $**(128)** |

---

**Volume Highlights**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(in thousands of metric tons)** | **Q1 2024** | **Q2 2024** | **Q3 2024** | **Q4 2024** | **Total**<br>**FY 2024** | **Q1 2025** | **Q2 2025** |
| **Volumes, recast for Reporting Segment change and new Volume methodology** | **Volumes, recast for Reporting Segment change and new Volume methodology** | **Volumes, recast for Reporting Segment change and new Volume methodology** | **Volumes, recast for Reporting Segment change and new Volume methodology** | **Volumes, recast for Reporting Segment change and new Volume methodology** | **Volumes, recast for Reporting Segment change and new Volume methodology** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybean Processing and Refining |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oilseeds processed* | *7869* | *9967* | *9343* | *9645* | *36824* | *8110* | *9304* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oilseeds merchandised* | *2757* | *4348* | *3070* | *5224* | *15399* | *2233* | *4098* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Refined oil production* | *788* | *924* | *908* | *908* | *3528* | *859* | *902* |
| &nbsp;&nbsp;&nbsp;&nbsp;Softseed Processing and Refining |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oilseeds processed* | *2533* | *2230* | *2135* | *2410* | *9308* | *2194* | *1947* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oilseeds merchandised* | *198* | *142* | *178* | *237* | *755* | *95* | *15* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Refined oil production* | *764* | *676* | *696* | *767* | *2903* | *728* | *663* |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Oilseeds Processing and Refining | 627 | 620 | 665 | 649 | 2561 | 618 | 624 |
| &nbsp;&nbsp;&nbsp;&nbsp;Grain Merchandising and Milling | 10416 | 8936 | 8964 | 8344 | 36660 | 8510 | 8382 |
| **Volumes, as originally reported** <sup>(1)</sup> | **Volumes, as originally reported** <sup>(1)</sup> | **Volumes, as originally reported** <sup>(1)</sup> | **Volumes, as originally reported** <sup>(1)</sup> | **Volumes, as originally reported** <sup>(1)</sup> | **Volumes, as originally reported** <sup>(1)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Agribusiness  | 20192 | 20579 | 19892 | 19965 | 80628 | 18277 | 19274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Processing* | *10402* | *12197* | *11478* | *12055* | *46132* | *10304* | *11251* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Merchandising* | *9790* | *8382* | *8414* | *7910* | *34496* | *7973* | *8023* |
| &nbsp;&nbsp;&nbsp;&nbsp;Refined & Specialty Oils  | 2195 | 2300 | 2334 | 2305 | 9134 | 2130 | 2175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Milling  | 874 | 971 | 961 | 897 | 3703 | 898 | 857 |

---

*(1)&nbsp;&nbsp;&nbsp;&nbsp;See Bunge's website for further information on Bunge's past volume methodology within its previously published earnings presentations.* 

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![image_0.jpg](image_0.jpg)

**Definition and Reconciliation of Non-GAAP Measures**

This press release contains certain "non-GAAP financial measures" as defined in Regulation G of the Securities Exchange Act of 1934. Bunge has reconciled these non-GAAP financial measures to the most directly comparable U.S. GAAP measures below. These measures may not be comparable to similarly titled measures used by other companies.

**Total EBIT and Adjusted Total EBIT**

Bunge uses earnings before interest and tax ("EBIT") to evaluate the operating performance of its individual reportable segments as well as Corporate and Other results. Total EBIT excludes EBIT attributable to noncontrolling interests. Bunge also uses Segment EBIT, Corporate and Other EBIT and Total EBIT to evaluate the operating performance of Bunge's reportable segments and Total reportable segments together with Corporate and Other activities. Segment EBIT is the aggregate of the earnings before interest and taxes of each of Bunge's Soybean Processing and Refining, Softseed Processing and Refining, Other Oilseeds Processing and Refining, and Grain Merchandising and Milling segments. Total EBIT is the aggregate of the earnings before interest and taxes of Bunge's reportable segments, together with its Corporate and Other activities.

Adjusted Segment EBIT, Adjusted Corporate and Other EBIT and Adjusted Total EBIT, are calculated by excluding temporary mark-to-market timing differences as defined in note (3) of Bunge's most recently published quarterly earnings press release and certain gains and (charges) from Segment EBIT, Corporate and Other EBIT, and Total EBIT, respectively.

Segment EBIT, Corporate and Other EBIT, Total EBIT, Adjusted Segment EBIT, Adjusted Corporate and Other EBIT, and Adjusted Total EBIT are non-GAAP financial measures and are not intended to replace Net income (loss) attributable to Bunge, the most directly comparable U.S. GAAP financial measure. Bunge's management believes these non-GAAP measures are a useful measure of its operating profitability, since the measures allow for an evaluation of performance without regard to financing methods or capital structure. For this reason, operating performance measures such as these non-GAAP measures are widely used by analysts and investors in Bunge's industries. These non-GAAP measures are not a measure of consolidated operating results under U.S. GAAP and should not be considered as an alternative to Net income (loss) or any other measure of consolidated operating results under U.S. GAAP.

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![image_0.jpg](image_0.jpg)

Below is a reconciliation of Net income (loss) attributable to Bunge, to Total EBIT, and Adjusted Total EBIT, recast, for the four quarters and fiscal year ended 2024 and first two quarters of 2025:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(US$ in millions)** | **Q1 2024** | **Q2 2024** | **Q3 2024** | **Q4 2024** | **Total**<br>**FY 2024** | **Q1 2025** | **Q2 2025** |
| &nbsp;&nbsp;&nbsp;**Net income (loss) attributable to Bunge** | $244 | $70 | $221 | $602 | $1137 | $201 | $354 |
| &nbsp;&nbsp;&nbsp;Interest income | (42) | (37) | (33) | (51) | (163) | (59) | (46) |
| &nbsp;&nbsp;&nbsp;Interest expense | 108 | 123 | 127 | 113 | 471 | 104 | 106 |
| &nbsp;&nbsp;&nbsp;Income tax expense (benefit) | 117 | 30 | 89 | 100 | 336 | 80 | 124 |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest share of interest and tax | 6 | (1) | 3 | 3 | 11 | 2 |  |
| &nbsp;&nbsp;&nbsp;**Total EBIT** | 433 | 185 | 407 | 767 | 1792 | 328 | 538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Mark-to-market timing differences | 182 | 158 | 3 | (180) | 163 | 2 | (128) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Certain (gains) & charges | 61 | 62 | 81 | (142) | 62 | 32 | (117) |
| &nbsp;&nbsp;&nbsp;**Adjusted Total EBIT** | $676 | $405 | $491 | $445 | $2017 | $362 | $293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted Segment EBIT | $715 | $515 | $559 | $546 | $2335 | $406 | $373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted Corporate & Other EBIT | (39) | (110) | (68) | (101) | (318) | (44) | (80) |
| &nbsp;&nbsp;&nbsp;**Adjusted Total EBIT** | $676 | $405 | $491 | $445 | $2017 | $362 | $293 |

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**Projected Adjusted EPS**

Bunge has presented projected Adjusted EPS for full-year 2025 and second half 2025. This information is provided only on a non-GAAP basis without reconciliation to projected Net Income per share for 2025, the most directly comparable U.S. GAAP measure. The most directly comparable GAAP measure has not been provided due to the inability to quantify certain amounts necessary for such reconciliation, including but not limited to potentially significant future market price movements over the remainder of the year, and Bunge believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The information necessary to prepare the comparable U.S. GAAP presentation could result in significant differences from projected Adjusted EPS for full-year 2025 and second half 2025.

As always, outlook is an estimate that may change in the future based on a number of factors and therefore may not reflect actual results.

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**About Bunge** 

At Bunge (NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. As a premier agribusiness solutions provider, our team of ~37,000 dedicated employees partner with farmers across the globe to move agricultural commodities from where they're grown to where they're needed—in faster, smarter, and more efficient ways. We are a world leader in grain origination, storage, distribution, oilseed processing and refining, offering a broad portfolio of plant-based oils, fats, and proteins. We work alongside our customers at both ends of the value chain to deliver quality products and develop tailored, innovative solutions that address evolving consumer needs. With 200+ years of experience and presence in over 50 countries, we are committed to strengthening global food security, advancing sustainability, and helping communities prosper where we operate. Bunge has its registered office in Geneva, Switzerland and its corporate headquarters in St. Louis, Missouri. Learn more at Bunge.com.

**Website Information**

We routinely post important information for investors on our website, www.bunge.com, in the "Investors" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, U.S. Securities and Exchange Commission ("SEC") filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

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**Cautionary Statement Concerning Forward-Looking Statements**

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward looking statements to encourage companies to provide prospective information to investors. This press release includes forward looking statements that reflect our current expectations and projections about our future results, performance, prospects and opportunities. Forward looking statements include all statements that are not historical in nature. We have tried to identify these forward looking statements by using words including "may," "will," "should," "could," "expect," "anticipate," "believe," "plan," "intend," "estimate," "continue" and similar expressions. These forward looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward looking statements. The following factors, among others, could cause actual results to differ from these forward looking statements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact on our employees, operations, and facilities from the war in Ukraine and the resulting economic and other sanctions imposed on Russia, including the impact on us resulting from the continuation and/or escalation of the war and sanctions against Russia;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effect of weather conditions and the impact of crop and animal disease on our business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of global and regional economic, agricultural, financial and commodities market, political, social and health conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in government policies and laws affecting our business, including agricultural and trade (including tariff) policies, financial markets regulation and environmental, tax and biofuels regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of seasonality;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of government policies and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the outcome of pending regulatory and legal proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to complete, integrate and benefit from acquisitions, divestitures, joint ventures and strategic alliances, including without limitation Bunge's business combination with Viterra Limited ("Viterra");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products that we sell and use in our business, fluctuations in energy and freight costs and competitive developments in our industries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effectiveness of our capital allocation plans, funding needs and financing sources;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effectiveness of our risk management strategies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• operational risks, including industrial accidents, natural disasters, pandemics or epidemics, wars and cybersecurity incidents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in foreign exchange policy or rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the impact of our dependence on third parties;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to attract and retain executive management and key personnel; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other factors affecting our business generally.

The forward looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward looking statements to reflect subsequent events or circumstances.

You should refer to "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC on February 20, 2025, as well as other risks and uncertainties set forth from time to time in reports subsequently filed with the SEC.

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