Bunge Global SA

Previous wording

This section is inclusive of the results of operations of Viterra from the date of Acquisition. Therefore, results attributable to Viterra are not included in the condensed consolidated statements of income for the three and six months ended June 30, 2025. As such, the Acquisition of Viterra is frequently one of the primary drivers of the year-over-year variances discussed throughout this section.

Current wording

This section is inclusive of the results of operations of Viterra from the date of Acquisition. As such, the Acquisition of Viterra is frequently one of the primary drivers of the year-over-year variances for the year-to-date results discussed throughout this section.

Previous wording

Total earnings before interest and taxes ("EBIT") is an operating performance measure used by Bunge’s management to evaluate reportable segment operating activities as well as Corporate and Other results. 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 EBIT of each of Bunge’s Soybean Processing and Refining, Softseed Processing and Refining, Tropical Oils and Specialty Ingredients, and Grain Merchandising and Milling reportable segments. Total EBIT is the aggregate of the EBIT of Bunge’s reportable segments, together with Corporate and Other activities. Bunge’s management believes Segment EBIT, Corporate and Other EBIT, and Total EBIT are useful measures of operating profitability since the measures allow for an evaluation of performance without regard to financing methods or capital structure. In addition, EBIT is a financial measure that is widely used by analysts and investors in Bunge’s industry. Total EBIT is a non-U.S. GAAP financial measure and is not intended to replace Net income (loss) attributable to Bunge shareholders, the most directly comparable U.S. GAAP financial measure. Further, Total EBIT excludes EBIT attributable to noncontrolling interests and is 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. See the reconciliation of Net income (loss) attributable to Bunge shareholders to Total EBIT below.

Current wording

Total earnings before interest and taxes ("EBIT") is an operating performance measure used by Bunge’s management to evaluate reportable segment operating activities as well as Corporate and Other results. 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 EBIT of each of Bunge’s Soybean Processing and Refining, Softseed Processing and Refining, Tropical Oils and Specialty Ingredients, and Grain Merchandising and Milling reportable segments. Total EBIT is the aggregate of the EBIT of Bunge’s reportable segments, together with Corporate and Other activities. Bunge’s management believes Segment EBIT, Corporate and Other EBIT, and Total EBIT are useful measures of operating profitability since the measures allow for an evaluation of performance without regard to financing methods or capital structure. In addition, EBIT is a financial measure that is widely used by analysts and investors in Bunge’s industry. Total EBIT is a non-U.S. GAAP financial measure and is not intended to replace Net income (loss) attributable to Bunge shareholders, the most directly comparable U.S. GAAP financial measure. Further, Total EBIT excludes EBIT attributable to noncontrolling interests and EBIT attributable to discontinued operations and is 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. See the reconciliation of Net income (loss) attributable to Bunge shareholders to Total EBIT below.

Previous wording

Net income (loss) attributable to Bunge shareholders - For the three months ended June 30, 2026, Net income attributable to Bunge shareholders was $678 million, an increase of $324 million compared to $354 million, for the three months ended June 30, 2025. For the six months ended June 30, 2026, Net income attributable to Bunge shareholders was $746 million, an increase of $191 million, compared to $555 million for the six months ended June 30, 2025. The increase for the three and six months ended June 30, 2026, was primarily due to higher Segment EBIT partially offset by lower Corporate and Other EBIT, as further discussed in the Segment Results section below. Further, the increase was partially offset by higher net interest expense as a result of increased debt levels to finance the Viterra Acquisition, as well as higher income tax expense, as further described in the Consolidated Results of Operations section below.

Current wording

Net income (loss) attributable to Bunge shareholders - For the three months ended September 30, 2026, Net income attributable to Bunge shareholders was $318 million, an increase of $152 million compared to $166 million, for the three months ended September 30, 2025. For the nine months ended September 30, 2026, Net income attributable to Bunge shareholders was $1,064 million, an increase of $343 million, compared to $721 million for the nine months ended September 30, 2025. The increase for the three months ended September 30, 2026, was primarily due to higher Segment EBIT and Corporate and Other EBIT, as further described in the Segment Results section below, partially offset by higher income tax expense, as further described in the Consolidated Results of Operations section below. The increase for the nine months ended September 30, 2026, was primarily due to higher Segment EBIT, as further described in the Segment Results section below, partially offset by higher net interest expense as a result of increased debt levels to finance the Viterra Acquisition and fund working capital requirements, as well as higher income tax expense, as further described in the Consolidated Results of Operations section below.

Previous wording

Net income (loss) attributable to Bunge shareholders - Earnings per share - diluted - For the three months ended June 30, 2026, Net income attributable to Bunge shareholders - diluted, was $3.47 per share, an increase of $0.86 per share, compared to $2.61 per share for the three months ended June 30, 2025. For the six months ended June 30, 2026, Net income attributable to Bunge shareholders - diluted, was $3.81 per share, a decrease of $0.29 per share, compared to income of $4.10 per share for the six months ended June 30, 2025. The increase for the three months ended June 30, 2026 was primarily due to higher Net income attributable to Bunge shareholders discussed above, partially offset by dilution from the issuance of registered shares as part of the Viterra Acquisition. The decrease for the six months ended June 30, 2026 is primarily due to dilution from the issuance of registered shares as part of the Viterra Acquisition, partially offset by higher Net income attributable to Bunge shareholders discussed above.

Current wording

Net income (loss) attributable to Bunge shareholders - Earnings per share - diluted - For the three months ended September 30, 2026, Net income attributable to Bunge shareholders - diluted, was $1.64 per share, an increase of $0.80 per share, compared to $0.84 per share for the three months ended September 30, 2025. For the nine months ended September 30, 2026, Net income attributable to Bunge shareholders - diluted, was $5.45 per share, an increase of $0.85 per share, compared to $4.60 per share for the nine months ended September 30, 2025. The increase for the three and nine months ended September 30, 2026 was primarily due to higher Net income (loss) attributable to Bunge shareholders discussed above. Further, the increase for the nine months ended September 30, 2026, was partially offset by dilution from the issuance of registered shares as part of the Viterra Acquisition.

Previous wording

Total EBIT- For the three months ended June 30, 2026, Total EBIT was $1,060 million, an increase of $522 million compared to $538 million for the three months ended June 30, 2025. For the six months ended June 30, 2026, Total EBIT was $1,244 million, an increase of $378 million compared to Total EBIT of $866 million for the six months ended June 30, 2025. The increase in Total EBIT for the three and six months ended June 30, 2026, was primarily due to higher Segment EBIT, resulting primarily from more favorable results in our Soybean Processing and Refining and Softseed Processing and Refining segments, partially offset by less favorable results in our Grain Merchandising and Milling segment and lower Corporate and Other EBIT, resulting from higher Selling, general and administrative expenses. The Segment Overview section below provides further details as well as a reconciliation of Net income attributable to Bunge shareholders to Total EBIT.

Current wording

Total EBIT- For the three months ended September 30, 2026, Total EBIT was $667 million, an increase of $264 million compared to $403 million for the three months ended September 30, 2025. For the nine months ended September 30, 2026, Total EBIT was $1,911 million, an increase of $642 million compared to Total EBIT of $1,269 million for the nine months ended September 30, 2025. The increase in Total EBIT for the three months ended September 30, 2026, was primarily due to higher Segment EBIT, resulting primarily from more favorable results in our Soybean Processing and Refining and Softseed Processing and Refining segments, and higher Corporate and Other EBIT, resulting from lower Selling, general and administrative expenses. The increase was partially offset by less favorable results in our Grain Merchandising and Milling and Tropical Oils and Specialty Ingredients segments. The increase in Total EBIT for the nine months ended September 30, 2026, was primarily due to higher Segment EBIT, resulting primarily from more favorable results in our Soybean Processing and Refining and Softseed Processing and Refining segments, partially offset by less favorable results in our Grain Merchandising and Milling segment. The Segment Overview section below provides further details as well as a reconciliation of Net income attributable to Bunge shareholders to Total EBIT.

Previous wording

Liquidity and Capital Resources – At June 30, 2026, working capital, which equals Total current assets less Total current liabilities, was $9,481 million, a decrease of $1,580 million, compared to working capital of $11,061 million at June 30, 2025, and an increase of $217 million, compared to working capital of $9,264 million at December 31, 2025. The decrease in working capital at June 30, 2026, compared to June 30, 2025, was primarily due to elevated Cash and cash equivalents balances in the prior year in preparation for closing the Viterra Acquisition early in the third quarter of 2025, higher Trade accounts payable, and Other current liabilities, partially offset by higher Inventories. The increase in working capital at June 30, 2026, compared to December 31, 2025, was primarily due to higher Inventories, partially offset by higher Short-term debt, Other current liabilities, and lower Cash and cash equivalents, as further discussed in the Liquidity and Capital Resources section below.

Current wording

Liquidity and Capital Resources – At September 30, 2026, working capital, which equals Total current assets less Total current liabilities, was $9,774 million, a decrease of $848 million, compared to working capital of $10,622 million at September 30, 2025, and an increase of $510 million, compared to working capital of $9,264 million at December 31, 2025. The decrease in working capital at September 30, 2026, compared to September 30, 2025, was primarily due to higher Short-term debt and Trade accounts payable balances, as well as lower Cash and cash equivalents and Other current assets, partially offset by higher Inventories. The increase in working capital at September 30, 2026, compared to December 31, 2025, was primarily due to higher Inventories and Other current assets, partially offset by higher Short-term debt, Other current liabilities, and Trade accounts payable balances, as further described in the Liquidity and Capital Resources section below.

Previous wording

Net sales – Net sales increased 88%, to $24,041 million for the three months ended June 30, 2026. See Segment Results section below for further discussion.

Current wording

Net sales – Net sales increased 7%, to $23,804 million for the three months ended September 30, 2026. See Reportable Segments section below for further discussion.

Previous wording

Cost of goods sold - Cost of goods sold increased 86%, to $22,360 million for the three months ended June 30, 2026. The increase in Cost of goods sold was primarily due to higher Net sales partially offset by more favorable mark-to-market results in the current period.

Current wording

Cost of goods sold - Cost of goods sold increased 7%, to $22,472 million for the three months ended September 30, 2026. The increase in Cost of goods sold was primarily due to higher Net sales, as well as current period charges related to the announced sale of two sugarcane mills in Brazil, which included $66 million of impairment charges and $16 million of hedge losses (see Note 2 - Acquisitions and Dispositionsto our condensed consolidated financial statements), and $10 million of charges related to losses from inventory damage sustained in relation to the Ukraine-Russia war. The increases were partially offset by more favorable mark-to-market results in the current period.

Previous wording

Selling, general, and administrative expenses - Selling, general, and administrative expenses increased 42%, to $1,137 million for the six months ended June 30, 2026. The increase is primarily due to increased labor costs as a result of the Viterra Acquisition.

Current wording

Selling, general, and administrative expenses - Selling, general, and administrative expenses decreased 11%, to $605 million for the three months ended September 30, 2026. The decrease is primarily due to lower acquisition and integration costs associated with the Viterra Acquisition.

Previous wording

Interest - Interest income decreased 16%, to $88 million for the six months ended June 30, 2026. Interest expense increased 80%, to $378 million for the six months ended June 30, 2026. Lower interest income is the result of lower average balances in Cash and cash equivalents. Higher Interest expense is a result of higher debt levels, driven by the financing of the Viterra Acquisition, partially offset by lower average interest rates.

Current wording

Interest - Interest income decreased 65%, to $20 million for the three months ended September 30, 2026. Interest expense increased 3%, to $208 million for the three months ended September 30, 2026. Lower Interest income is the result of lower average balances in Cash and cash equivalents, as well as lower balances in marketable securities and other short-term investments due to funding strategies in Argentina in the prior year. Higher Interest expense is a result of higher debt levels, driven by higher working capital requirements, partially offset by lower average interest rates.

Previous wording

Foreign exchange gains (losses) – net -Foreign exchange gains (losses) – net decreased 159%, to a loss of $26 million for the three months ended June 30, 2026. The net loss in the current quarter primarily reflects losses on U.S. dollar-denominated loans payable in non-U.S. dollar functional currency operations and the impact of hedging costs attributable to monetary assets in South America.

Current wording

Foreign exchange gains (losses) – net -Foreign exchange gains (losses) – net increased 15%, to a loss of $63 million for the three months ended September 30, 2026 from a loss of $55 million for the three months ended September 30, 2025. The net loss in the current quarter primarily reflects the impact of hedging costs attributable to monetary assets in South America and losses on U.S. dollar-denominated loans payable in non-U.S. dollar functional currency operations.

Previous wording

Other income (expense) - net - Other income (expense) - net decreased 79% to a gain of $39 million for the three months ended June 30, 2026. The decrease was primarily due to the absence of a $155 million prior year gain on the sale of Bunge's North America corn milling business.

Current wording

Other income (expense) - net - Other income (expense) - net decreased 78%, to $17 million for the three months ended September 30, 2026. The decrease was primarily due to lower gains in Argentina related to foreign currency positioning compared to the prior year.

Previous wording

Income tax (expense) benefit -Income tax (expense) benefit increased 90% to an income tax expense of $236 million for the three months ended June 30, 2026. The increase in income tax expense for the three months ended June 30, 2026 was primarily due to higher pre-tax income in 2026.

Current wording

Income tax (expense) benefit -Income tax (expense) benefit increased 95%, to an income tax expense of $168 million for the three months ended September 30, 2026. The increase in income tax expense for the three months ended September 30, 2026 was primarily due to higher pre-tax income in 2026. Income tax expense for the three months ended September 30, 2026 included the recognition of a deferred tax valuation allowance resulting from the Ukraine-Russia war.

Previous wording

Net sales – Net sales increased 88%, to $45,902 million for the six months ended June 30, 2026. See Segment Results section below for further discussion.

Current wording

Net sales – Net sales increased 50%, to $69,706 million for the nine months ended September 30, 2026. See Reportable Segments section below for further discussion.

Previous wording

Selling, general, and administrative expenses - Selling, general, and administrative expenses increased 45%, to $606 million for the three months ended June 30, 2026. The increase is primarily due to increased labor costs as a result of the Viterra Acquisition.

Current wording

Selling, general, and administrative expenses - Selling, general, and administrative expenses increased 18%, to $1,742 million for the nine months ended September 30, 2026. The increase is primarily due to increased labor costs as a result of the Viterra Acquisition, partially offset by lower acquisition and integration costs associated with the Viterra Acquisition.

Previous wording

Interest - Interest income decreased 7%, to $43 million for the three months ended June 30, 2026. Interest expense increased 86%, to $197 million for the three months ended June 30, 2026. Lower interest income is the result of lower average balances in Cash and cash equivalents. Higher Interest expense is a result of higher debt levels, driven by the financing of the Viterra Acquisition, partially offset by lower average interest rates.

Current wording

Interest - Interest income decreased 33%, to $108 million for the nine months ended September 30, 2026. Interest expense increased 42%, to $586 million for the nine months ended September 30, 2026. Lower Interest income is the result of lower average balances in Cash and cash equivalents. Higher Interest expense is a result of higher debt levels, driven by the financing of the Viterra Acquisition and higher working capital requirements, partially offset by lower average interest rates.

Previous wording

Foreign exchange gains (losses) – net - Foreign exchange gains (losses) – net decreased 274%, to a loss of $120 million for the six months ended June 30, 2026. The net loss in the current period primarily reflects the impact of hedging costs attributable to monetary assets in South America, as well as additional losses in South America on net monetary assets due to a weaker U.S. dollar. These losses are partially offset by gains on U.S. dollar-denominated loans payable in non-U.S. dollar functional currency operations.

Current wording

Foreign exchange gains (losses) – net - Foreign exchange gains (losses) – net decreased 1,407%, to a loss of $183 million for the nine months ended September 30, 2026 from a gain of $14 million for the nine months ended September 30, 2025. The net loss in the current period primarily reflects the impact of hedging costs attributable to monetary assets in South America, as well as additional losses in South America on net monetary assets due to a weaker U.S. dollar. These losses are partially offset by gains on U.S. dollar-denominated loans payable in non-U.S. dollar functional currency operations.

Previous wording

Other income (expense) - net - Other income (expense) - net decreased 66% to a gain of $92 million for the six months ended June 30, 2026. The decrease was primarily due to the absence of a $155 million prior year gain on the sale of Bunge's North America corn milling business recognized in the second quarter of 2025.

Current wording

Other income (expense) - net - Other income (expense) - net decreased 68%, to a gain of $109 million for the nine months ended September 30, 2026. The decrease was primarily due to the absence of a $155 million prior year gain on the sale of Bunge's North America corn milling business recognized in the second quarter of 2025, as well as lower gains in Argentina related to foreign currency positioning compared to the prior year.

Previous wording

Income tax (expense) benefit -Income tax (expense) benefit increased 9% to an income tax expense of $222 million for the six months ended June 30, 2026. The increase in income tax expense for the six months ended June 30, 2026 was primarily due to higher pre-tax income in 2026.

Current wording

Income tax (expense) benefit -Income tax (expense) benefit increased 34%, to an income tax expense of $390 million for the nine months ended September 30, 2026. The increase in income tax expense for the nine months ended September 30, 2026 was primarily due to higher pre-tax income in 2026. Income tax expense for the nine months ended September 30, 2026 included the recognition of a deferred tax valuation allowance resulting from the Ukraine-Russia war.

Previous wording

Effective in the third quarter of 2025, we changed our reportable segments to align with our new value chain operational structure as a result of the completion of the Acquisition of Viterra. Additionally, during the first quarter of 2026, the Other Oilseeds Processing and Refining segment was renamed to Tropical Oils and Specialty Ingredients. The segment name change had no impact on the composition of the Company’s existing four reportable segments, nor to the Company’s previously reported segment results or the consolidated financial statements. See Note 19 - Segment Informationto our condensed consolidated financial statements.

Current wording

During the first quarter of 2026, the Other Oilseeds Processing and Refining segment was renamed to Tropical Oils and Specialty Ingredients. The segment name change had no impact on the composition of the Company’s existing four reportable segments, nor did it affect the Company’s previously reported segment results or the consolidated financial statements. See Note 19 - Segment Informationto our condensed consolidated financial statements.

Previous wording

Therefore, our operations are now organized, managed and classified into four reportable segments based upon their similar economic characteristics, nature of products and services offered, production processes, types and classes of customer, and distribution methods. Reportable operations comprise our Soybean Processing and Refining, Softseed Processing and Refining, Tropical Oils and Specialty Ingredients, and Grain Merchandising and Milling reportable segments.

Current wording

Our operations are organized, managed and classified into four reportable segments based upon their similar economic characteristics, nature of products and services offered, production processes, types and classes of customer, and distribution methods. Reportable operations comprise our Soybean Processing and Refining, Softseed Processing and Refining, Tropical Oils and Specialty Ingredients, and Grain Merchandising and Milling reportable segments.

Previous wording

Segment EBIT increased 75%, to $804 million for the three months ended June 30, 2026. The net increase was primarily driven by higher results in our North America, Argentina, and global soybean processing businesses due to a more favorable processing environment and more favorable mark-to-market results. The increase is partially offset by foreign currency losses recognized in the current quarter on U.S. dollar-denominated loans payable in non-U.S. dollar functional currency operations in South America.

Current wording

Segment EBIT increased 62%, to $547 million for the three months ended September 30, 2026. The increase was primarily driven by higher results in most regions in our processing businesses due to a more favorable processing environment and more favorable mark-to-market results.

Previous wording

Segment EBIT increased 39%, to $1,013 million for the six months ended June 30, 2026.The net increase was primarily driven by higher results in our North America, Argentina, and global soybean processing businesses due to a more favorable processing environment. The increase is partially offset by foreign currency losses recognized in the current year on remeasurement of foreign denominated balances in South America.

Current wording

Segment EBIT increased 46%, to $1,560 million for the nine months ended September 30, 2026. The increase was primarily driven by higher results in all regions in our processing businesses due to a more favorable processing environment. The current period results are partially offset by foreign currency losses recognized in the current year on remeasurement of foreign denominated balances in South America, as well as higher Selling, general and administrative expenses in the current period as a result of the Viterra Acquisition.

Previous wording

Softseed Processing and Refining segment Net sales increased 163%, to $7,999 million for the six months ended June 30, 2026. The increase was primarily due to Net sales contributions from the Acquisition of Viterra, in addition to higher average sales prices across all regions driven by strong demand from global biofuel mandates, elevated global energy prices as a result of the conflict with Iran, and sustained export meal and seeds demand. Global sun oil prices were also higher driven by elevated demand amid tight global supply following limited crop availability in the Black Sea and Europe. Softseeds processed were also higher in Argentina and Europe, partially driven by activity in Ukraine as a result of the acquisition of an oilseed crush facility from Varthomio completed in the fourth quarter of 2025.

Current wording

Softseed Processing and Refining segment Net sales increased 18%, to $4,302 million for the three months ended September 30, 2026. The increase was primarily due to higher processed volumes in all regions due to a more favorable processing environment, as well as higher volumes in Europe due to activity in Ukraine as a result of the acquisition of an oilseed crush facility from Varthomio completed in the fourth quarter of 2025. The increase was also attributable to higher average sales prices driven by strong demand from global biofuel mandates, a tighter global supply following limited crop availability in Europe and the Black Sea due to the Ukraine-Russia war, elevated global energy prices as a result of the conflict with Iran, and sustained export meal and seeds demand.

Previous wording

Segment EBIT increased 1,337%, to $273 million for the three months ended June 30, 2026. The increase was primarily due to improved results across all regions due to strong demand that drove higher prices as described above, as well as more favorable mark-to-market results in the current period.

Current wording

Segment EBIT increased 50%, to $353 million for the three months ended September 30, 2026. The increase was primarily due to improved results in North America due to strong demand that drove higher prices as described above, as well as favorable mark-to-market results in the current period. The increase was partially offset by $10 million of charges resulting from the Ukraine-Russia war, primarily related to losses from inventory damage.

Previous wording

Softseed Processing and Refining segment Net sales increased 167%, to $4,095 million for the three months ended June 30, 2026. The increase was primarily due to Net sales contributions from the Acquisition of Viterra, in addition to higher average sales prices across all regions driven by strong demand from global biofuel mandates, elevated global energy prices as a result of the conflict with Iran, as well as sustained export meal and seeds demand. Global sun oil prices were also higher driven by elevated demand amid tight global supply following limited crop availability in the Black Sea and Europe. Softseeds processed were also higher in Argentina and Europe, partially driven by activity in Ukraine as a result of the acquisition of an oilseed crush facility from Varthomio completed in the fourth quarter of 2025.

Current wording

Softseed Processing and Refining segment Net sales increased 83%, to $12,301 million for the nine months ended September 30, 2026. The increase was primarily due to Net sales contributions from the Acquisition of Viterra, as well as higher average sales prices driven by strong demand from global biofuel mandates, a tighter global supply following limited crop availability in Europe and the Black Sea due to the Ukraine-Russia war, elevated global energy prices as a result of the conflict with Iran, and sustained export meal and seeds demand. Softseeds processed were also higher in all regions due to a more favorable processing environment, as well as higher volumes in Europe due to activity in Ukraine as a result of the acquisition of an oilseed crush facility from Varthomio completed in the fourth quarter of 2025.

Previous wording

Tropical Oils and Specialty Ingredients segment Net sales increased 11%, to $2,487 million for the six months ended June 30, 2026. The increase was primarily due to higher sales prices in our tropical oils business driven by higher commodity prices due to higher vegetable oil prices from the conflict with Iran, especially in the first quarter of 2026, as well as stronger demand resulting from global biofuel mandates. Volumes were also higher.

Current wording

Tropical Oils and Specialty Ingredients segment Net sales increased 7%, to $1,295 million for the three months ended September 30, 2026. The increase was primarily due to higher volumes in our tropical oils business, as well as higher volumes in our proteins business driven by the opening of our production facility in the United States and the acquisition of certain businesses of International Flavors and Fragrances, Inc. ("IFF") in the first quarter of 2026 (see Note 2 - Acquisitions and Dispositionsto our condensed consolidated financial statements). Prices were also higher driven by higher commodity prices due to stronger vegetable oil demand, global biofuel mandates, and the conflict with Iran.

Previous wording

Segment EBIT decreased 140%, to a loss of $24 million for the three months ended June 30, 2026. The decrease was primarily due to lower results in our tropical oils business driven by more unfavorable mark-to-market results.

Current wording

Segment EBIT decreased 83%, to $13 million for the three months ended September 30, 2026. The decrease was primarily due to lower results in our tropical oils business driven by less favorable mark-to-market results relative to the prior year as well as current period margin impacts associated with geopolitical trade disruptions.

Previous wording

Grain Merchandising and Milling segment Net sales increased 183%, to $6,614 million for the three months ended June 30, 2026. The increase was primarily due to Net sales contributions from the Acquisition of Viterra. In addition, volumes in our global corn business increased driven by strong ethanol demand and increased farmer selling in North America. Volumes and prices in our global wheat and wheat milling businesses increased due to higher supply and demand across various regions. The above increases were partially offset by the lack of recurring sales from our North American corn milling business that was divested in the second quarter of 2025, as well as sales price decreases in our global corn business.

Current wording

Grain Merchandising and Milling segment Net sales increased 84%, to $20,555 million for the nine months ended September 30, 2026. The increase was primarily due to Net sales contributions from the Acquisition of Viterra. In addition, prices in our global corn and wheat businesses increased as a result of global supply concerns from factors such as tensions in the Black Sea resulting from the Ukraine-Russia war and a smaller crop in North America. Volumes were also higher in our global corn and wheat businesses, as well as our South American wheat milling business. The above increases were partially offset by the lack of recurring sales in the first half of the year from our North American corn milling business that was divested in the second quarter of 2025.

Previous wording

Segment EBIT decreased 58%, to $97 million for the six months ended June 30, 2026. The decrease was primarily due to the absence of a prior year $155 million gain on the sale of Bunge's North America corn milling business recognized in the second quarter of 2025, as well as higher Selling, general and administrative expenses in the current period as a result of the Viterra Acquisition. The decrease was partially offset by more favorable results driven by contributions from the Acquisition of Viterra and the financial services business. Additionally, the favorable results in our ocean freight business during the second quarter of 2026, as described above, were partially offset by the unfavorable results recognized during the first quarter of 2026.

Current wording

Segment EBIT decreased 91%, to $23 million for the nine months ended September 30, 2026. The decrease was primarily due to the absence of a prior year $155 million gain on the sale of Bunge's North America corn milling business recognized in the second quarter of 2025, higher Selling, general and administrative expenses in the current period as a result of the Viterra Acquisition, and charges related to the announced sale of two sugarcane mills in Brazil, which included $66 million of impairment charges and $16 million of hedge losses (see Note 2 - Acquisitions and Dispositionsto our condensed consolidated financial statements). The decrease was partially offset by more favorable results driven by contributions from the Acquisition of Viterra, the financial services business, and our South American wheat milling business.

Previous wording

Corporate and Other EBIT decreased 41%, to a loss of $166 million for the three months ended June 30, 2026. The decrease was primarily driven by an increase in Selling, general and administrative expenses as a result of the Viterra Acquisition. The Company recognized acquisition and integration costs within Corporate and Other EBIT of $35 million, and $38 million for three months ended June 30, 2026, and June 30, 2025, respectively.

Current wording

Corporate and Other EBIT increased 36%, to a loss of $172 million for the three months ended September 30, 2026. The increase was primarily driven by a decrease in Selling, general and administrative expenses as a result of lower acquisition and integration costs in the current year associated with the Viterra Acquisition as well as lower performance-based compensation expenses. The Company recognized acquisition and integration costs within Corporate and Other EBIT of $21 million, and $101 million for the three months ended September 30, 2026 and September 30, 2025, respectively.

Previous wording

Corporate and Other EBIT decreased 55%, to a loss of $301 million for the six months ended June 30, 2026. The decrease was primarily driven by an increase in Selling, general and administrative expenses as a result of the Viterra Acquisition and the timing of performance-based compensation. The Company recognized acquisition and integration costs within Corporate and Other EBIT of $70 million for both the six months ended June 30, 2026, and June 30, 2025. Other income (expense) - net also decreased driven by a $15 million cash benefit received in the six months ended June 30, 2025 related to a prior investment in affiliate.

Current wording

Corporate and Other EBIT decreased 2%, to a loss of $473 million for the nine months ended September 30, 2026. The decrease was primarily due to an increase in Cost of goods sold as a result of losses in our captive insurance program, as well as lower Other income (expense) - net. The decrease was partially offset by a decrease in Selling, general and administrative expenses as a result of lower acquisition and integration costs in the current year associated with the Viterra Acquisition. The Company recognized acquisition and integration costs within Corporate and Other EBIT of $91 million and $171 million for the nine months ended September 30, 2026 and September 30, 2025, respectively.

Previous wording

Working capital was $9,481 million at June 30, 2026, an increase of $217 million from working capital of $9,264 million at December 31, 2025, and a decrease of $1,580 million from working capital of $11,061 million at June 30, 2025.

Current wording

Working capital was $9,774 million at September 30, 2026, an increase of $510 million from working capital of $9,264 million at December 31, 2025, and a decrease of $848 million from working capital of $10,622 million at September 30, 2025.

Previous wording

Cash and Cash Equivalents - Cash and cash equivalents were $593 million at June 30, 2026, a decrease of $542 million from $1,135 million at December 31, 2025, and a decrease of $6,197 million from $6,790 million at June 30, 2025. The significant decrease from June 30, 2025 is due to an accumulation of Cash and cash equivalents levels in the prior period in preparation for closing of the Viterra Acquisition that occurred early in the third quarter of 2025. Cash balances are managed in accordance with our investment policy, the objectives of which are to preserve the principal value of our cash assets, maintain a high degree of liquidity, and deliver competitive returns subject to prevailing market conditions. Cash balances are typically invested in short-term deposits, money market funds, commercial paper programs with highly rated institutions, and in U.S. government securities. Please refer to the Cash Flows section of this report, below, for further details regarding the factors giving rise to the change in Cash and cash equivalents during the six months ended June 30, 2026.

Current wording

Cash and Cash Equivalents - Cash and cash equivalents were $524 million at September 30, 2026, a decrease of $611 million from $1,135 million at December 31, 2025, and a decrease of $791 million from $1,315 million at September 30, 2025. Cash balances are managed in accordance with our investment policy, the objectives of which are to preserve the principal value of our cash assets, maintain a high degree of liquidity, and deliver competitive returns subject to prevailing market conditions. Cash balances are typically invested in short-term deposits, money market funds, commercial paper programs with highly rated institutions, and in U.S. government securities. Please refer to the Cash Flows section of this report, below, for further details regarding the factors giving rise to the change in Cash and cash equivalents during the nine months ended September 30, 2026.

Previous wording

Trade accounts receivable, net - Trade accounts receivable, net were $3,931 million at June 30, 2026, an increase of $61 million from $3,870 million at December 31, 2025, and an increase of $1,673 million from $2,258 million at June 30, 2025. The increase from December 31, 2025 was primarily due to higher average sales prices driven by factors described in the Segment Overview section above, which were partially offset by higher receivables sold into our securitization program. The increase from June 30, 2025 was primarily due to an increase in receivables outstanding as of June 30, 2026 from the Acquisition of Viterra as well as increased Net sales in the current period driven by factors described in the Segment Overview section above, which were partially offset by higher receivables sold into our securitization program.

Current wording

Trade accounts receivable, net - Trade accounts receivable, net were $4,137 million at September 30, 2026, an increase of $267 million from $3,870 million at December 31, 2025, and an increase of $643 million from $3,494 million at September 30, 2025. The increases from December 31, 2025 and September 30, 2025 were primarily due to higher average sales prices driven by factors described in the Segment Overview section above, which were partially offset by higher receivables sold into our securitization program.

Previous wording

Inventories - Inventories were $15,461 million at June 30, 2026, an increase of $2,263 million from $13,198 million at December 31, 2025, and an increase of $7,447 million from $8,014 million at June 30, 2025. The increase from December 31, 2025 was primarily due to increased soybean volumes in conjunction with the timing of the South American harvest, as well as higher prices on most commodities. The increase from June 30, 2025 was primarily due to increased inventory balances from the Acquisition of Viterra and higher average prices on most commodities.

Current wording

Inventories - Inventories were $16,624 million at September 30, 2026, an increase of $3,426 million from $13,198 million at December 31, 2025, and an increase of $3,312 million from $13,312 million at September 30, 2025. The increase from December 31, 2025 was primarily due to increased soybean volumes in conjunction with the timing of the South

Previous wording

RMI comprise agricultural commodity inventories, such as soybeans, soybean meal, soybean oil, corn, softseeds, softseed oil, and wheat that are readily convertible to cash because of their commodity characteristics, widely available markets and international pricing mechanisms. Total RMI reported at fair value was $13,311 million, $11,361 million, and $6,657 million at June 30, 2026, December 31, 2025, and June 30, 2025, respectively (see Note 5 - Inventoriesto our condensed consolidated financial statements).

Current wording

RMI comprise agricultural commodity inventories, such as soybeans, soybean meal, soybean oil, corn, softseeds, softseed oil, and wheat that are readily convertible to cash because of their commodity characteristics, widely available markets and international pricing mechanisms. Total RMI reported at fair value was $14,696 million, $11,361 million, and $11,514 million at September 30, 2026, December 31, 2025, and September 30, 2025, respectively (see Note 5 - Inventoriesto our condensed consolidated financial statements).

Previous wording

Other current assets - Other current assets were $6,230 million at June 30, 2026, an increase of $42 million from $6,188 million at December 31, 2025, and an increase of $1,847 million from $4,383 million at June 30, 2025. The increase from December 31, 2025 was attributable to an increase in prepaid commodity purchase contracts in conjunction with the timing of the South American harvest, an increase in unrealized gains on derivative contracts at fair value as a result of volatile commodity prices and exchange rate fluctuations, and an increase in margin deposits. These increases were partially offset by a reduction in marketable securities and other short-term investments based on dynamic investment strategies in South America, a decrease in secured advances to suppliers, which were converted to prepaid commodity contracts in conjunction with the timing of the South American harvest, a reduction in time deposits under the trade structured finance program, and the collection of our $80 million disposition receivable which resulted from the sale of 40% of our Spanish operating subsidiary. The increase from June 30, 2025 was primarily due to the Acquisition of Viterra. This increase was partially offset by lower unrealized gains on derivative contracts as a result of volatile commodity prices, a reduction in marketable securities and other short-term investments based on dynamic investment strategies in South America and the collection of our $80 million disposition receivable as noted above.

Current wording

Other current assets - Other current assets were $7,924 million at September 30, 2026, an increase of $1,736 million from $6,188 million at December 31, 2025, and a decrease of $674 million from $8,598 million at September 30, 2025. The increase from December 31, 2025 was attributable to an increase in unrealized gains on derivative contracts at fair value as a result of volatile commodity prices and exchange rate fluctuations, an increase in Assets held for sale primarily related to the announced sale of our two sugarcane mills in Brazil (see Note 2 - Acquisitions and Dispositionsto our condensed consolidated financial statements), an increase in margin deposits, and an increase in prepaid commodity purchase contracts in conjunction with the timing of the South American harvest. These increases were partially offset by a reduction in marketable securities and other short-term investments based on dynamic investment strategies in South America, the reduction of time deposits under the trade structured finance program, and the collection of our $80 million disposition receivable resulting from the sale of 40% of our Spanish operating subsidiary. The decrease from September 30, 2025 was attributable to a reduction in marketable securities and other short-term investments based on dynamic investment strategies in South America, a reduction in time deposits under the trade structured finance program, and the collection of our $80 million disposition receivable as noted above. The decreases were partially offset by an increase in margin deposits, an increase in unrealized gains on derivative contracts at fair value as a result of volatile commodity prices and exchange rate fluctuations, and an increase in Assets held for sale primarily related to the announced sale of our two sugarcane mills in Brazil as noted above.

Previous wording

Short-term debt - Short-term debt, including the Current portion of long-term debt, was $5,788 million at June 30, 2026, an increase of $568 million from $5,220 million at December 31, 2025, and an increase of $1,563 million from $4,225 million at June 30, 2025. The higher short-term debt level at June 30, 2026, compared to December 31, 2025 was due to higher borrowings by Bunge from its commercial paper program and revolving credit facilities, as well as higher borrowings under bilateral short-term credit lines entered into through our financing subsidiaries to fund working capital requirements as a result of the Acquisition of Viterra. The increase was partially offset by a decrease in the Current portion of long-term debt due to the repayment of $575 million of senior notes in April 2026, partially offset by $442 million 4.90% senior notes due in 2027 which became current in the second quarter of 2026. The increase from June 30, 2025 was due to an increase of borrowings under bilateral short-term credit lines entered into through our financing subsidiaries to fund working capital requirements. In addition, increased short-term debt levels at June 30, 2026 compared to June 30, 2025, resulted from an increase in the Current portion of long-term debt primarily due two senior notes maturing within the next year to a total of $1,142 million, compared to only $600 million in the prior period. The increase was partially offset by lower borrowings under the commercial paper program and revolving credit facilities in the current period based on our funding strategies, including the utilization of proceeds from the issuance of two tranches of senior notes in March 2026.

Current wording

Short-term debt - Short-term debt, including the Current portion of long-term debt, was $7,802 million at September 30, 2026, an increase of $2,582 million from $5,220 million at December 31, 2025, and an increase of $2,022 million from $5,780 million at September 30, 2025. The higher short-term debt level at September 30, 2026, compared to December 31, 2025 was due to higher borrowings by Bunge under its commercial paper program and revolving credit facilities to fund higher working capital requirements. The increase from September 30, 2025 was due to higher borrowings by Bunge under its revolving credit facilities and higher borrowings under bilateral short-term credit lines entered into through our financing subsidiaries to fund working capital requirements, partially offset by lower borrowings under the commercial paper program. The Current portion of long-term debt remained relatively unchanged at September 30, 2026 compared to December 31, 2025 and September 30, 2025 as the repayments of the 2.00% Senior Notes due 2026 and 3.25% Senior Notes due 2026 upon their respective maturities in April and August 2026, were offset by two tranches of senior notes due in 2027 and the $250 million term loan due 2027 in the current period.

Previous wording

Trade accounts payable- Trade accounts payable were $5,370 million at June 30, 2026, an increase of $489 million from $4,881 million at December 31, 2025, and an increase of $2,476 million from $2,894 million at June 30, 2025. The increase from December 31, 2025 was primarily due to higher inventory volumes in conjunction with the South American harvest and higher average commodity prices, partially offset by the timing of payments in North America. The increase from June 30, 2025 was primarily due to the Acquisition of Viterra, as well as higher average commodity prices in the current period.

Current wording

Trade accounts payable- Trade accounts payable were $5,576 million at September 30, 2026, an increase of $695 million from $4,881 million at December 31, 2025, and an increase of $796 million from $4,780 million at September 30, 2025. The increase from December 31, 2025 was primarily due to higher inventory volumes in conjunction with the South American harvest and higher average commodity prices. The increase from September 30, 2025 was primarily due to higher average commodity prices in the current period.