Bunge Global SA

Previous wording

On July 2, 2025, we completed our previously announced acquisition (the "Acquisition") of Viterra Limited ("Viterra"). Pursuant to the terms of the business combination agreement, Viterra shareholders received approximately 65.6 million registered shares of Bunge, with an aggregate value of approximately $5.3 billion as of July 2, 2025, and approximately $1.9 billion in cash, in return for 100% of the outstanding equity of Viterra. The Acquisition of Viterra creates a premier global agribusiness solutions company for food, feed and fuel, well positioned to meet the demands of increasingly complex markets and better serve farmers and end-customers.

Current wording

On July 2, 2025, we completed our previously announced acquisition (the "Acquisition") of Viterra Limited ("Viterra"). Pursuant to the terms of the business combination agreement, Viterra shareholders received approximately 65.6 million registered shares of Bunge, with an aggregate value of approximately $5.3 billion as of July 2, 2025, and approximately $1.9 billion in cash, in return for 100% of the outstanding equity of Viterra.

Previous wording

This section is inclusive of the results of operations of Viterra from the date of Acquisition, July 2, 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. Therefore, results attributable to Viterra are not included in the condensed consolidated statement of income for the three months ended March 31, 2025. As such, the Acquisition of Viterra is frequently one of the primary drivers of the year-over-year variances 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, Other Oilseeds Processing and Refining, 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.

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 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 September 30, 2025, Net income attributable to Bunge shareholders was $166 million, a decrease of $55 million compared to $221 million, for the three months ended September 30, 2024. For the nine months ended September 30, 2025, Net income attributable to Bunge was $721 million, an increase of $186 million, compared to $535 million for the nine months ended September 30, 2024. The decrease for the three months ended September 30, 2025, was primarily due to higher net interest expense due to increased debt levels to finance the Acquisition as well as lower Corporate and Other EBIT, partially offset by higher Segment EBIT, as further discussed in the Segment Overview & Results of Operations section below. The increase for the nine months ended September 30, 2025 was due to higher Segment EBIT, partially offset by lower EBIT in our Corporate and Other activities, as further discussed in the Segment Overview & Results of Operations section below, and higher income tax expense as discussed further below.

Current wording

Net Income (Loss) Attributable to Bunge Shareholders - For the three months ended March 31, 2026, Net income attributable to Bunge shareholders was $68 million, a decrease of $133 million compared to $201 million, for the three months ended March 31, 2025. The decrease for the three months ended March 31, 2026, was primarily due to lower Segment EBIT and Corporate and Other EBIT, as further discussed in the Segment Results section below. In addition, the decrease is due to higher net interest expense as a result of increased debt levels to finance the Viterra Acquisition, partially offset by an income tax benefit recorded in the current period compared to an expense in the prior period, 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 September 30, 2025, Net income attributable to Bunge shareholders - diluted, was $0.84 per share, a decrease of $0.72 per share, compared to $1.56 per share for the three months ended September 30, 2024. For the nine months ended September 30, 2025, Net income attributable to Bunge shareholders - diluted, was $4.60 per share, an increase of $0.87 per share, compared to income of $3.73 per share for the nine months ended September 30, 2024.

Current wording

Net income (loss) attributable to Bunge shareholders - Earnings per share - Diluted - For the three months ended March 31, 2026, Net income attributable to Bunge shareholders - diluted, was $0.35 per share, a decrease of $1.13 per share, compared to $1.48 per share for the three months ended March 31, 2025. The decrease is primarily due to lower Net income attributable to Bunge shareholders discussed above, as well as dilution from the issuance of registered shares as part of the Viterra Acquisition.

Previous wording

Total EBIT- For the three months ended September 30, 2025, Total EBIT was $403 million, a decrease of $4 million compared to $407 million for the three months ended September 30, 2024. For the nine months ended September 30, 2025, Total EBIT was $1,269 million, an increase of $244 million compared to Total EBIT of $1,025 million for the nine months ended September 30, 2024. The decrease in Total EBIT for the three months ended September 30, 2025, was primarily due to lower Corporate and Other EBIT, resulting from higher SG&A expense, partially offset by higher Segment EBIT, resulting primarily from higher gross profit in both of our Soybean Processing and Refining and Softseed Processing and Refining segments, as further discussed in the Segment Overview & Results of Operations section below. The increase for the nine months ended September 30, 2025, was primarily due to higher Segment EBIT, resulting primarily from higher gross profit in our Soybean Processing and Refining segment, partially offset by lower Corporate and Other EBIT, resulting from higher SG&A expense, as further discussed in the Segment Overview & Results of Operations section below.

Current wording

Total EBIT- For the three months ended March 31, 2026, Total EBIT was $184 million, a decrease of $144 million compared to $328 million for the three months ended March 31, 2025. The decrease in Total EBIT for the three months ended March 31, 2026, was primarily due to lower Segment EBIT, resulting primarily from less favorable results in our

Previous wording

Liquidity and Capital Resources – At September 30, 2025, working capital, which equals Total current assets less Total current liabilities, was $10,622 million, an increase of $2,394 million, compared to working capital of $8,228 million at September 30, 2024, and an increase of $2,099 million, compared to working capital of $8,523 million at December 31, 2024. The increase in working capital at September 30, 2025, compared to September 30, 2024, and December 31, 2024, respectively, was primarily due to higher Inventories and Other current assets, partially offset by higher Short-term debt, as further discussed in Liquidity and Capital Resources section below.

Current wording

Liquidity and Capital Resources – At March 31, 2026, working capital, which equals Total current assets less Total current liabilities, was $10,154 million, an increase of $1,316 million, compared to working capital of $8,838 million at March 31, 2025, and an increase of $890 million, compared to working capital of $9,264 million at December 31, 2025. The increase in working capital at March 31, 2026, compared to March 31, 2025, was primarily due to higher Inventories and Other current assets, partially offset by lower Cash and cash equivalent balances and higher Trade accounts payable and Other current liabilities. The increase in working capital at March 31, 2026, compared to December 31, 2025, was primarily due to higher Inventories, partially offset by higher Trade accounts payable and Other current liabilities, as further discussed in the Liquidity and Capital Resources section below.

Previous wording

Cost of goods sold increased 37%, to $10,359 million for the three months ended September 30, 2025. The net increase was primarily due to higher Net sales as well as more unfavorable mark-to-market results.

Current wording

Cost of goods sold - Cost of goods sold increased 91%, to $21,095 million for the three months ended March 31, 2026. The increase in Cost of goods sold was primarily due to higher Net sales as well as overall more unfavorable mark-to-market results in the current period.

Previous wording

Selling, general and administrative expenses increased 31% to $266 million for the nine months ended September 30, 2025. The increase was primarily due to the Acquisition of Viterra.

Current wording

Selling, general, and administrative expenses-Selling, general, and administrative expenses increased 40%, to $531 million for the three months ended March 31, 2026. The increase is primarily due to increased labor costs as a result of the Viterra Acquisition.

Previous wording

Interest income increased 73%, to $57 million for the three months ended September 30, 2025. Interest expense increased 59%, to $202 million for the three months ended September 30, 2025. Higher Interest income is a result of higher balances in marketable securities and other short-term investments related to funding strategies in Argentina in the current year. Higher Interest expense is a result of higher debt levels, driven by the financing of the Viterra Acquisition.

Current wording

Interest - Interest income decreased 24%, to $45 million for the three months ended March 31, 2026. Interest expense increased 74%, to $181 million for the three months ended March 31, 2026. Lower interest income is the result of lower average balances in Cash and cash equivalents, partially offset by higher balances in other short-term investments related to funding strategies in Argentina. Higher Interest expense is a result of higher debt levels, driven by the financing of the Viterra Acquisition, partially offset by lower average net interest rates.

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, Other Oilseeds Processing and Refining, and Grain Merchandising and Milling reportable segments.

Current 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.

Previous wording

Our remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Corporate and Other. Corporate and Other includes salaries and overhead for corporate functions, including acquisition and integration costs related to the Viterra Acquisition, that are not allocated to our individual reportable segments because the operating performance of each reportable segment is evaluated by the Company's chief operating decision maker exclusive of these items, as well as certain other activities including Bunge Ventures, the Company's captive insurance activities, accounts receivable securitization activities, and certain income tax assets and liabilities. Corporate and Other also includes historical results of Bunge's previously recognized Sugar & Bioenergy segment as discussed above.

Current wording

Our remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Corporate and Other. Corporate and Other includes salaries and overhead for corporate functions, including acquisition and integration costs related to the Viterra Acquisition, that are not allocated to our individual reportable segments because the operating performance of each reportable segment is evaluated by the Company's chief operating decision maker exclusive of these items, as well as certain other activities including Bunge Ventures, the Company's captive insurance activities, accounts receivable securitization activities, and certain income tax assets and liabilities.

Previous wording

Effective July 1, 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. See Note 19 - Segment Informationto our condensed consolidated financial statements. Further, we enhanced our volume reporting to align with the new segment reporting structure and with the Company's primary income-generating activities. Volumes are now reported as follows:

Current wording

Further, we enhanced our volume reporting in the third quarter of 2025 to align with the new segment reporting structure and with the Company's primary income-generating activities. Volumes are now reported as follows:

Previous wording

•Other Oilseeds Processing and Refining volumes represent sales volumes to third-party customers.

Current wording

•Tropical Oils and Specialty Ingredients volumes represent sales volumes to third-party customers.

Previous wording

Other Oilseeds Processing and Refining segment Net sales increased 13% to $3,442 million for the nine months ended September 30, 2025. The increase was primarily due to higher sales prices in our tropical oils business due to stronger demand resulting from global biofuel mandates, partially offset by lower volumes.

Current wording

Tropical Oils and Specialty Ingredients segment Net sales increased 13% to $1,228 million for the three months ended March 31, 2026. The increase was primarily due to higher sales prices in our tropical oils business due to rising oil prices from the conflict with Iran, as well as stronger demand resulting from global biofuel mandates.

Previous wording

Grain Merchandising and Milling segment Net sales increased 42% to $11,146 million for the nine months ended September 30, 2025. The increase was primarily due to Net sales contributions resulting from the Acquisition of Viterra, in addition to higher volumes and higher average sales prices in our global corn business, as a result of higher demand across various regions. The above increases were partially offset by lower volumes and lower average sales price in our global wheat business driven by lower demand to China on a year-to-date basis, as well as a lack of recurring sales from Bunge's North America corn milling business that was divested in the second quarter of 2025 (see Note 2 - Acquisitions and Dispositions to our condensed consolidated financial statements).

Current wording

Grain Merchandising and Milling segment Net sales increased 201% to $7,177 million for the three months ended March 31, 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 a strong corn harvest in North America and increased demand. Volumes in our global wheat business also 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 across most businesses.

Previous wording

Corporate and Other EBIT decreased 106%, to a loss of $268 million for the three months ended September 30, 2025. The decrease was primarily driven by an increase in SG&A expense due to the Acquisition of Viterra as well as higher variable compensation expense and higher acquisition and integration costs associated with the Acquisition of Viterra. The Company recognized acquisition and integration costs within Corporate and Other EBIT of $101 million, and $62 million for three months ended September 30, 2025, and 2024, respectively. The decrease was also driven by lower Income from affiliates in the current period due to the 2024 sale of BP Bunge Bioenergia (see Note 2 - Acquisitions and Dispositionsto our condensed consolidated financial statements).

Current wording

Corporate and Other EBIT decreased 78%, to a loss of $135 million for the three months ended March 31, 2026. The decrease was primarily driven by an increase in Selling, general and administrative expense 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 $35 million, and $32 million for three months ended March 31, 2026, and March 31, 2025, respectively. Other income (expense) - net also decreased driven by a $15 million cash benefit received in the three months ended March 31, 2025 related a prior investment in affiliate.

Previous wording

Working capital was $10,622 million at September 30, 2025, an increase of $2,099 million from working capital of $8,523 million at December 31, 2024, and an increase of $2,394 million from working capital of $8,228 million at September 30, 2024.

Current wording

Working capital was $10,154 million at March 31, 2026, an increase of $890 million from working capital of $9,264 million at December 31, 2025, and an increase of $1,316 million from working capital of $8,838 million at March 31, 2025.

Previous wording

Cash and Cash Equivalents - Cash and cash equivalents were $1,315 million at September 30, 2025, a decrease of $1,996 million from $3,311 million at December 31, 2024, and a decrease of $1,521 million from $2,836 million at September 30, 2024. 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, and 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, 2025.

Current wording

Cash and Cash Equivalents - Cash and cash equivalents were $839 million at March 31, 2026, a decrease of $296 million from $1,135 million at December 31, 2025, and a decrease of $2,406 million from $3,245 million at March 31, 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 three months ended March 31, 2026.

Previous wording

Trade accounts receivable, net - Trade accounts receivable, net were $3,494 million at September 30, 2025, an increase of $1,346 million from $2,148 million at December 31, 2024, and an increase of $1,394 million from $2,100 million at September 30, 2024. The increase from December 31, 2024 and September 30, 2024 was primarily due to an increase of receivables outstanding as of September 30, 2025 from the Acquisition of Viterra and increased Net sales in the current period driven by factors described in the Segment Overview & Results of Operations above.

Current wording

Trade accounts receivable, net - Trade accounts receivable, net were $3,975 million at March 31, 2026, an increase of $105 million from $3,870 million at December 31, 2025, and an increase of $1,641 million from $2,334 million at March 31, 2025. The increase from December 31, 2025 was primarily due to higher sales prices occurring later in the current period, driven by factors described in the Segment Overview section above, as well as timing of collections in North America, which was partially offset by higher receivables sold into our securitization program. The increase from March 31, 2025 was primarily due to an increase of receivables outstanding as of March 31, 2026 from the Acquisition of Viterra and increased Net sales in the current period driven by factors described in the Segment Overview section above.

Previous wording

Inventories - Inventories were $13,312 million at September 30, 2025, an increase of $6,821 million from $6,491 million at December 31, 2024, and an increase of $5,847 million from $7,465 million at September 30, 2024. The increase from December 31, 2024 and September 30, 2024 was primarily due to increased inventory balances from the Acquisition of Viterra. In addition, the increase from December 31, 2024 was due to increased volumes in conjunction with the timing of the South American harvest. The increase from September 30, 2024 was also due to higher volumes, partially offset by certain lower average prices, including soybeans.

Current wording

Inventories - Inventories were $15,428 million at March 31, 2026, an increase of $2,230 million from $13,198 million at December 31, 2025, and an increase of $7,611 million from $7,817 million at March 31, 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 certain commodities. The increase from March 31, 2025 was primarily due to increased inventory balances from the Acquisition of Viterra and higher average prices on most commodities.

Previous wording

RMI comprise agricultural commodity inventories, such as soybeans, soybean meal, soybean oil, palm oil, corn, 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 $11,514 million, $5,224 million, and $6,195 million at September 30, 2025, December 31, 2024, and September 30, 2024, 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 $13,428 million, $11,361 million, and $6,499 million at March 31, 2026, December 31, 2025, and March 31, 2025, respectively (see Note 5- Inventoriesto our condensed consolidated financial statements).

Previous wording

Short-term debt - Short-term debt, including the Current portion of long-term debt, was $5,780 million at September 30, 2025, an increase of $4,236 million from $1,544 million at December 31, 2024, and an increase of $4,362 million from $1,418 million at September 30, 2024. The higher short-term debt level at September 30, 2025, compared to December 31, 2024 and September 30, 2024 was due to increased borrowings under the commercial paper program and increased borrowings by operating companies on local bank facilities to fund working capital requirements, which includes additional Short-term debt outstanding as of September 30, 2025 from the Acquisition of Viterra. In addition, increased short-term debt levels at September 30, 2025, compared to December 31, 2024 and September 30, 2024, resulted from an increase in the Current portion of long-term debt associated with two tranches of senior notes maturing in 2026, partially offset by the repayment of $600 million senior notes which matured in the current period.

Current wording

Short-term debt - Short-term debt, including the Current portion of long-term debt, was $4,606 million at March 31, 2026, a decrease of $614 million from $5,220 million at December 31, 2025, and an increase of $2,603 million from $2,003 million at March 31, 2025. The lower short-term debt level at March 31, 2026, compared to December 31, 2025 was due to repayment of borrowings outstanding under one of our revolving credit facilities as a result of proceeds from the issuance of two tranches of senior notes in March 2026, as further described in the Debt section below, and decreased borrowings under the commercial paper program. These decreases were partially offset by increased borrowings under our bilateral short-term credit lines entered into through our financing subsidiaries to fund working capital requirements. The increase from March 31, 2025 was due to increased 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.

Previous wording

Trade accounts payable- Trade accounts payable were $4,780 million at September 30, 2025, an increase of $2,003 million from $2,777 million at December 31, 2024, and an increase of $1,569 million from $3,211 million at September 30, 2024. The increase from December 31, 2024 and September 30, 2024 was primarily due to an increase in payables outstanding as of September 30, 2025 from the Acquisition of Viterra, higher inventory volumes, and timing of payments, partially offset by lower average commodity prices.

Current wording

Trade accounts payable- Trade accounts payable were $6,176 million at March 31, 2026, an increase of $1,295 million from $4,881 million at December 31, 2025, and an increase of $2,345 million from $3,831 million at March 31, 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 timing of payments in North America. The increase from March 31, 2025 was primarily due to an increase in payables outstanding as of March 31, 2026 from the Acquisition of Viterra, as well as higher average commodity prices in the current period.

Previous wording

Revolving Credit Facilities — At September 30, 2025, we had $8,665 million unused and available committed borrowing capacity, comprised of committed revolving credit facilities. The following table summarizes these facilities as of the periods presented:

Current wording

Revolving Credit Facilities — At March 31, 2026, we had $9,665 million unused and available committed borrowing capacity, comprised of committed revolving credit facilities. The following table summarizes these facilities as of the periods presented:

Previous wording

Our total debt was $15,589 million at September 30, 2025, an increase of $9,351 million from $6,238 million at December 31, 2024, and an increase of $9,394 million from $6,195 million at September 30, 2024. The higher total debt level at September 30, 2025, compared to December 31, 2024 and September 30, 2024 was primarily due to an increase in short-term borrowings as described above and an increase in long-term debt, including current portion, resulting from the issuance of two tranches of senior notes ("2025 Senior Notes") for an aggregate principle amount of $1.3 billion in August 2025 and borrowings totaling $2.3 billion on term loans due in 2028 drawn in June 2025 to finance the Acquisition of Viterra. In addition in the third quarter of 2025, Bunge completed exchange offers which resulted in exchanging $1.92 billion of existing senior notes for new notes issued by BLFC and completed the European consent solicitation to become the issuer and guarantor of a 700 million Euro aggregate principal amount of 1.000% senior unsecured note due 2028. These increases were partially offset by the repayment of $600 million senior notes which matured in the current period. See Note 13 - Debtto our condensed consolidated financial statements for further information.

Current wording

Our total debt was $14,553 million at March 31, 2026, an increase of $502 million from $14,051 million at December 31, 2025, and an increase of $7,836 million from $6,717 million at March 31, 2025. The higher total debt level at March 31, 2026, compared to December 31, 2025 was primarily due to an increase in long-term debt, including the current portion, resulting from the issuance of two tranches of senior notes ("2026 Senior Notes") for an aggregate principal amount of $1.2 billion in March 2026, partially offset by a decrease in short-term borrowings as described above. The higher total debt levels compared to March 31, 2025 were primarily due an increase in short-term borrowings as described above and an increase in long-term debt, including current portion, resulting from the issuance of the 2026 Senior Notes, the issuance of two tranches of senior notes for an aggregate principle amount of $1.3 billion in August 2025, and borrowings outstanding of $1.3 billion on term loans due in 2028 drawn in June 2025 to finance the Viterra Acquisition. In addition, long-term debt, including current portion, includes senior notes outstanding as of March 31, 2026 assumed as part of the Acquisition of Viterra. See Note 13- Debtto our condensed consolidated financial statements for further information.

Previous wording

From time to time, through our financing subsidiaries, we enter into bilateral short-term credit lines as necessary. At September 30, 2025, there were $100 million borrowings outstanding under these bilateral short-term credit lines.

Current wording

From time to time, through our financing subsidiaries, we enter into bilateral short-term credit lines as necessary. There were $1,080 million and $900 million borrowings outstanding under these bilateral short-term credit lines at March 31, 2026 and December 31, 2025, respectively. The increase in the current period is primarily to support working capital requirements.

Previous wording

In addition, Bunge's operating companies had $2,051 million, $875 million, and $755 million in short-term borrowings outstanding from local bank facilities at September 30, 2025, December 31, 2024 and September 30, 2024, respectively, to support working capital requirements. The outstanding borrowings as of September 30, 2025 include short-term borrowings from local bank facilities from the Acquisition of Viterra.

Current wording

In addition, Bunge's operating companies had $2,115 million, $2,083 million, and $1,328 million in short-term borrowings outstanding from local bank facilities at March 31, 2026, December 31, 2025, and March 31, 2025, respectively, to support working capital requirements. The outstanding borrowings as of March 31, 2026 and December 31, 2025 include short-term borrowings from local bank facilities as a result of the Acquisition of Viterra.

Previous wording

Total Bunge shareholders’ equity was $15,768 million at September 30, 2025, compared to $9,913 million at December 31, 2024, an increase of $5,855 million. The increase was primarily due to Bunge stock issued as consideration in the Acquisition of Viterra of $5,340 million, $721 million of Net income (loss) attributable to Bunge, $544 million of income in Other comprehensive income (loss) resulting from favorable foreign exchange translation adjustments, and a $240 million increase resulting from the sale of a redeemable noncontrolling interest in our Spanish operating subsidiary (see Note 2 - Acquisitions and Dispositionsto our condensed consolidated financial statements) impacting both Additional paid-in capital and Accumulated other comprehensive income (loss). These increases were partially offset by share repurchases of $545 million and $502 million of declared dividends to shareholders, as described in Note 17 - Equity to our condensed consolidated financial statements.

Current wording

Total Bunge shareholders’ equity was $16,045 million at March 31, 2026, compared to $15,904 million at December 31, 2025, an increase of $141 million. The increase was primarily due to $68 million of Net income (loss) attributable to Bunge and $67 million of income in Other comprehensive income (loss) resulting from favorable foreign exchange translation adjustments.

Previous wording

Our cash flows from operations vary depending on, among other items, Net income and the market prices and timing of purchases and sales of our inventories. Generally, during periods when commodity prices are rising, our Agribusiness operations require increased use of cash to support working capital to acquire inventories and fund daily settlement requirements on exchange traded futures that we use to minimize price risk related to purchases and sales of our inventories.

Current wording

Our cash flows from operations vary depending on, among other items, Net income and the market prices and timing of purchase and sale of our inventories. Generally, during periods when commodity prices are rising, our agribusiness operations require increased use of cash to support working capital to acquire inventories and fund daily settlement requirements on exchange traded futures that we use to minimize price risk related to purchase and sale of our inventories.

Previous wording

During the nine months ended September 30, 2025, our cash and cash equivalents and restricted cash decreased by $2,003 million, compared to an increase of $266 million during the nine months ended September 30, 2024, as further explained below.

Current wording

During the three months ended March 31, 2026, our cash and cash equivalents and restricted cash decreased by $319 million, compared to a decrease of $79 million during the three months ended March 31, 2025, as further explained below.

Previous wording

Certain of our non-U.S. operating subsidiaries are primarily funded with U.S. dollar-denominated debt, while currency risk is hedged with U.S. dollar-denominated assets. The functional currency of our operating subsidiaries is generally the local currency. The financial statements of our subsidiaries are calculated in the functional currency, and when the local currency is the functional currency, translated into U.S. dollars. U.S. dollar-denominated loans are remeasured into their respective functional currencies at exchange rates at the applicable balance sheet date. Also, certain of our U.S. dollar functional operating subsidiaries outside the U.S. are partially funded with local currency borrowings, while the currency risk is hedged with local currency denominated assets. Local currency loans in U.S. dollar functional currency subsidiaries outside the U.S. are remeasured into U.S. dollars at the exchange rate on the applicable balance sheet date. The resulting gain or loss is included in our condensed consolidated statements of income as Foreign exchange (losses) gains – net. For the nine months ended September 30, 2025, we recorded a foreign currency gain on our debt of $251 million, which was included as an adjustment to reconcile Net income to Cash provided by (used for) operating activities in the line item Foreign exchange (gain) loss on net debt in our condensed consolidated statements of cash flows. These adjustments are required as the gains and losses are non-cash items that arise from financing activities and therefore will have no impact on cash flows from operations.

Current wording

Certain of our non-U.S. operating subsidiaries are primarily funded with U.S. dollar-denominated debt, while currency risk is hedged with U.S. dollar-denominated assets. The functional currency of our operating subsidiaries is generally the local currency. The financial statements of our subsidiaries are calculated in the functional currency, and when the local currency is the functional currency, translated into U.S. dollars. U.S. dollar-denominated loans are remeasured into their respective functional currencies at exchange rates at the applicable balance sheet date. Also, certain of our U.S. dollar functional operating subsidiaries outside the U.S. are partially funded with local currency borrowings, while the currency risk is hedged with local currency denominated assets. Local currency loans in U.S. dollar functional currency subsidiaries outside the U.S. are remeasured into U.S. dollars at the exchange rate on the applicable balance sheet date. The resulting gain or loss is included in our condensed consolidated statements of income as Foreign exchange (losses) gains – net. For the three months ended March 31, 2026, we recorded a foreign currency gain on our debt of $102 million, which was included as an adjustment to reconcile Net income to Cash provided by (used for) operating activities in the line item Foreign exchange (gain) loss on net debt in our condensed consolidated statements of cash flows. These adjustments are required as the gains and losses are non-cash items that arise from financing activities and therefore will have no impact on cash flows from operations.

Previous wording

We paid a regular quarterly cash dividend distribution of $0.70 per share on September 2, 2025, to shareholders of record on August 19, 2025. On May 15, 2025, shareholders of Bunge Global SA approved a cash dividend distribution in the amount of $2.80 per share, payable in four equal quarterly installments of $0.70 per share beginning in the second quarter of fiscal year 2025 and ending in the first quarter of fiscal year 2026. The $0.70 per share dividend distribution represents a $0.02, or 3%, increase from the Company's previously approved quarterly cash dividend declared of $0.68 per share.

Current wording

We paid a regular quarterly cash dividend distribution of $0.70 per share on March 3, 2026, to shareholders of record on February 17, 2026. On May 15, 2025, shareholders of Bunge Global SA approved a cash dividend distribution in the amount of $2.80 per share, payable in four equal quarterly installments of $0.70 per share beginning in the second quarter of fiscal year 2025 and ending in the first quarter of fiscal year 2026. Any future determination to pay dividend distributions will, subject to the provisions of applicable law, be at the discretion of the Board, and the approval by shareholders at a general meeting, currently scheduled to occur on May 20, 2026, in accordance with Swiss law as described in Note 17- Equity.