Bunge Global

“In Brazil, where there have been limited third-party financing sources available to farmers, we provide financing to farmers from whom we purchase soybeans and other agricultural commodities through prepaid commodity purchase contracts and advances, which are generally intended to be short-term in nature and are typically secured by the farmer's crop and a mortgage on the farmer's land and other assets to provide a means of repayment in the potential event of crop failure or shortfall. As of December 31, 2025 and 2024, respectively, we had approximately $835 million and $478 million in outstanding prepaid commodity purchase contracts, and advances to farmers.”

Annual report 2025A · The company itself

“Business Overview We are a premier agribusiness solutions company, connecting farmers to consumers and delivering essential food, feed and fuel to the world. Our dedicated employees, integrated operations and global footprint give us access to key markets and a diverse agricultural network covering major crops. These capabilities help us manage seasonal cycles, weather variability and other risks as we partner with farmers to move crops from where they are grown to where they are needed.”

Annual report 2025A · The company itself

“With more than 200 years of experience and operations in more than 50 countries, we are: •a leading global oilseed processor and producer of vegetable oils and protein meal, based on processing capacity and volume; •a leading global grain merchandiser, based on volume; •a leading seller of packaged plant-based oils worldwide, based on sales; and •a leading producer and seller of wheat flours, bakery mixes and related products in South America, based on volume.”

Annual report 2025A · The company itself

“Our global operations include purchasing, storing, transporting, processing, selling and distributing agricultural commodities and related products.”

Annual report 2025A · The company itself

“Soybean Processing and Refining Segment Our Soybean Processing and Refining segment is a globally integrated business principally involved in the purchase, storage, transportation, processing, distribution, refining, marketing, and sale of soybeans and soybean related products, as well as biodiesel and fertilizer production and distribution. We process soybeans into protein meals and crude and refined vegetable oils and fats, principally for the food, animal feed and biofuel industries, through a global network of facilities.”

Annual report 2025A · The company itself

“Softseed Processing and Refining Segment Our Softseed Processing and Refining segment is a globally integrated business principally involved in the purchase, storage, transportation, processing, distribution, refining, marketing, and sale of softseeds (canola/rapeseed and sunflower seed) and softseed related products, as well as biodiesel production and distribution.”

Annual report 2025A · The company itself

“Other Oilseeds Processing and Refining Segment Our Other Oilseeds Processing and Refining segment is a globally integrated business principally involved in products of a specialty nature, including the purchase, storage, transportation, processing, distribution, refining, marketing, and sale of these related products. Key Commodities Palm Oil, Palm Kernel Oil, Shea Butter, Coconut Oil, various other Seed Oils, Soy Protein Concentrates, and Textured Soy Flour Key Regions We have processing, refining, and packaging facilities in North America, Europe, Asia-Pacific, and Africa.”

Annual report 2025A · The company itself

“Key Commodities Corn, Wheat, Barley, Cotton, Pulses, Sugar Key Regions The operations and assets of our merchandising operations are located throughout the world; milling operations and assets are primarily located in South America. Customers The principal purchasers of our grains are animal feed manufacturers, livestock producers, wheat and corn millers. As a result, our grain merchandising business generally benefits from global demand for protein, primarily poultry and pork products.”

Annual report 2025A · The company itself

“Key Commodities Soybean, Soybean Meal, Soybean Oil Key Regions and Processing Capacity 47% in South America, 25% in North America, 15% in Asia-Pacific, and 13% in Europe Customers Animal feed manufacturers, Livestock producers, Biofuel companies, Other oilseed processors, and a variety of customers that purchase our refined oil products Raw Materials Globally sourced directly from farmers or indirectly through intermediaries.”

Annual report 2025A · The company itself

“Key Commodities Canola/Rapeseed, Sunflower Seed, Canola/Rapeseed Meal, Sunflower Meal, Canola/Rapeseed Oil, Sunflower Oil Key Regions and Processing Capacity 53% in Europe, 30% in North America, 13% in South America, and 4% in Asia-Pacific Customers Animal feed manufacturers, Livestock producers, Biofuel companies, Other oilseed processors, and a variety of customers that purchase our refined oil products Raw Materials Globally sourced directly from farmers or indirectly through intermediaries.”

Annual report 2025A · The company itself

“The primary customers for our wheat milling products are food processing, bakery, and food service companies, while the primary customers of our sugar milling products are food processing companies.”

Annual report 2025A · The company itself

“In particular, we advance capital and provide other financing arrangements to farmers in Brazil and, as a result, our business and financial results may be adversely affected if these farmers are unable to repay the capital advanced to them.”

Annual report 2025A · The company itself

“The decrease was primarily due to lower average sales prices experienced in almost all regions for our global soybean oilseed processing businesses, driven by relative price stabilization due to a more balanced supply and demand environment, in addition to overall lower volumes in our global soybean oilseed processing business. The above decreases were slightly offset by higher volumes in South America resulting from the non-recurrence of the prior year drought in Argentina and higher volumes of oilseeds merchandised in our global soybean origination business.”

Annual report 2025A · The company itself

“As a result, we purchase and produce various materials, many of which are agricultural commodities, including soybeans, soybean oil, soybean meal, palm oil (from crude to various degrees of refined products), softseeds (including sunflower seed, rapeseed, and canola) and related oil and meal derived from them, wheat, barley, shea nut, corn, sugar, and cotton.”

Annual report 2025A · The company itself

“Facilities by Business Area (metric tons) Aggregate Daily Production Capacity Aggregate Storage Capacity Business Area Soybean Processing and Refining 193,165 11,226,953 Softseed Processing and Refining 69,320 2,447,065 Other Oilseeds Processing and Refining 19,188 431,773 Grain Merchandising and Milling 30,887 19,486,773 Facilities by Geographic Region (metric tons) Aggregate Daily Production Capacity Aggregate Storage Capacity Region North America 72,391 10,177,820 South America 131,207 10,836,887 Europe 66,583 3,135,190 Asia-Pacific 42,379 9,442,667 Soybean Processing and Refining In our Soybean Processing and Refining segment, we have 35 oilseed processing plants, 22 refining and packaging facilities, and 17 port terminals throughout the world. Additionally, there are 70 storage facilities globally that are located close 28 Table of Contents to these soybean facilities.”

Annual report 2025A · The company itself

“We also have four fertilizer processing and blending plants, and four fertilizer port terminals in South America.”

Annual report 2025A · The company itself

“Grain Merchandising and Milling In our Grain Merchandising and Milling segment, we have we have 298 commodity storage facilities, which are located close to agricultural production areas or export locations. We also have 29 port terminals in key export locations throughout the world.”

Annual report 2025A · The company itself

“Soybean Processing and Refining segment Net sales decreased 12%, to $31,930 million for the year ended December 31, 2024. The decrease was primarily due to lower average sales prices experienced in almost all regions for our global soybean oilseed processing businesses, driven by relative price stabilization due to a more balanced supply and demand environment, in addition to overall lower volumes in our global soybean oilseed processing business.”

Annual report 2025A · The company itself

“Softseed Processing and Refining segment Net sales increased 62%, to $11,252 million for the year ended December 31, 2025. The increase was primarily due to Net Sales contributions from the Viterra Acquisition, in addition to higher average sales prices in our European business resulting from a drought in the region impacting the sunflower seed crop in the current year and higher prices in our global softseed distribution business.”

Annual report 2025A · The company itself

“We are subject to fluctuations in agricultural commodity and other raw material prices, energy prices, and other factors outside of our control that could adversely affect our operating results. Prices for agricultural commodities and their by-products, including, among others, soybeans, corn, wheat, sugar and ethanol, like those of other commodities, are often volatile and sensitive to local and international changes in supply and demand caused by factors outside of our control, including farmer planting and selling decisions, currency fluctuations, inflation, government agriculture programs and policies (including tariffs), pandemics, governmental restrictions or mandates, global inventory levels, demand for biofuels, weather and crop conditions, and demand for and supply of competing commodities and substitutes.”

Annual report 2025A · The company itself

“Additionally, our operating costs and the selling prices of certain of our products are sensitive to changes in energy prices. Our industrial operations utilize significant amounts of electricity, natural gas and coal, and our transportation operations are dependent upon diesel fuel and other petroleum-based products.”

Annual report 2025A · The company itself

“Energy Risk We purchase various energy commodities such as electricity, natural gas, and bunker fuel, which are used to operate our manufacturing facilities and ocean freight vessels. These energy commodities are subject to price risk, including inflationary pressures.”

Annual report 2025A · The company itself

“With more than 200 years of experience and operations in more than 50 countries, we are: •a leading global oilseed processor and producer of vegetable oils and protein meal, based on processing capacity and volume; •a leading global grain merchandiser, based on volume; •a leading seller of packaged plant-based oils worldwide, based on sales; and •a leading producer and seller of wheat flours, bakery mixes and related products in South America, based on volume.”

Annual report 2025A · The company itself

“Key Commodities Soybean, Soybean Meal, Soybean Oil Key Regions and Processing Capacity 47% in South America, 25% in North America, 15% in Asia-Pacific, and 13% in Europe Customers Animal feed manufacturers, Livestock producers, Biofuel companies, Other oilseed processors, and a variety of customers that purchase our refined oil products Raw Materials Globally sourced directly from farmers or indirectly through intermediaries.”

Annual report 2025A · The company itself

“We are subject to fluctuations in agricultural commodity and other raw material prices, energy prices, and other factors outside of our control that could adversely affect our operating results. Prices for agricultural commodities and their by-products, including, among others, soybeans, corn, wheat, sugar and ethanol, like those of other commodities, are often volatile and sensitive to local and international changes in supply and demand caused by factors outside of our control, including farmer planting and selling decisions, currency fluctuations, inflation, government agriculture programs and policies (including tariffs), pandemics, governmental restrictions or mandates, global inventory levels, demand for biofuels, weather and crop conditions, and demand for and supply of competing commodities and substitutes.”

Annual report 2025A · The company itself

“We also sell certain biofuel products, such as ethanol, renewable diesel, and biodiesel, which are closely related to, or may be substituted for, petroleum products. As a result, the selling prices of ethanol, renewable diesel, and biodiesel can be impacted by the selling prices of oil, gasoline and diesel fuel.”

Annual report 2025A · The company itself

“Additionally, in conjunction with the recent increase in demand for renewable biodiesel feedstocks, we have experienced additional competition for refining capacity from traditional petroleum companies, particularly in the United States.”

Annual report 2025A · The company itself

“Key Commodities Soybean, Soybean Meal, Soybean Oil Key Regions and Processing Capacity 47% in South America, 25% in North America, 15% in Asia-Pacific, and 13% in Europe Customers Animal feed manufacturers, Livestock producers, Biofuel companies, Other oilseed processors, and a variety of customers that purchase our refined oil products Raw Materials Globally sourced directly from farmers or indirectly through intermediaries.”

Annual report 2025A · The company itself

“Biofuels convert crops, such as sugarcane, corn, soybeans, palm, rapeseed, canola, and other oilseeds, into ethanol, renewable diesel, or biodiesel to extend, enhance or substitute for fossil fuels. Production of biofuels has increased significantly in the last decade in response to both periods of high fossil fuel prices and to government incentives to produce biofuels offered in many countries, including the United States, Brazil, Argentina, and several South-East Asian and European countries. Furthermore, in several countries, governmental authorities are mandating biofuel use in transport fuels at specified levels.”

Annual report 2025A · The company itself

“Due to the international nature of our business, we are exposed to various risks of international operations, including: •adverse trade policies or trade barriers on agricultural commodities and commodity products; •new and developing requirements related to GHG emissions and other climate change initiatives and workforce mandates; •inflation, hyperinflation, and adverse economic effects resulting from governmental attempts to control inflation, such as the imposition of wage and price controls and higher interest rates.”

Annual report 2025A · The company itself

“Governmental policies affecting the agricultural industry, such as taxes (including "windfall profits" taxes), tariffs, duties, subsidies, import and export restrictions, price controls on agricultural commodities, and energy policies (including biofuels mandates), can influence industry profitability, the planting of certain crops versus other uses of agricultural resources, the location and size of crop production, whether unprocessed or processed commodity products are traded, and the volume and types of imports and exports.”

Annual report 2025A · The company itself

“The increase was primarily due to higher sales prices in our tropical oils business due to stronger demand resulting from global biofuel mandates and import tariffs, partially offset by lower volumes.”

Annual report 2025A · The company itself

“For example, since establishing our non-deforestation commitment in 2015, we have implemented programs to prevent native vegetation conversion and deforestation in our supply chains.”

Annual report 2025A · The company itself

“As another example, we continue to invest in technology and partnerships to strengthen monitoring and verification systems and expand regenerative agriculture programs that support low-carbon farming practices globally.”

Annual report 2025A · The company itself

“As a publicly traded company incorporated in Switzerland, Bunge is also required under Swiss law to prepare a report covering five non-financial matters, namely environmental matters (in particular climate issues), social issues, employee-related issues (including diversity aspects), respect for human rights, and combating corruption.”

Annual report 2025A · The company itself

“Sustainability Sustainability is core to Bunge’s business. We make decisions across our value chain built on a foundation of ethical leadership, accountability, and environmental stewardship. Sustainability factors into decisions ranging from how we evaluate new growth markets, plan and develop our strategic goals, compensate our employees and operate our facilities to how we engage with our customers, suppliers, employees, communities, shareholders, and partners.”

Annual report 2025A · The company itself

“Strategy We leverage our leadership, extensive knowledge of the industry, and our deeply rooted relationships with customers at both ends of the value chain to address the sustainability challenges facing the food, feed, and fuel supply chains in which we operate. We intend to address those challenges by, among other things, connecting farmers and our end customers as they seek to establish common approaches to overcome shared sustainability challenges. This means that the decisions we make—from strategy to investments to operations—look at the associated sustainability impact and how it will shape our long-term ambitions.”

Annual report 2025A · The company itself

“Significant increases in the cost of these items, including as a result of the Ukraine-Russia war, and currency fluctuations could adversely affect our operating costs and results.”

Annual report 2025A · The company itself

“Energy Risk We purchase various energy commodities such as electricity, natural gas, and bunker fuel, which are used to operate our manufacturing facilities and ocean freight vessels.”

Annual report 2025A · The company itself

“Key Commodities Soybean, Soybean Meal, Soybean Oil Key Regions and Processing Capacity 47% in South America, 25% in North America, 15% in Asia-Pacific, and 13% in Europe Customers Animal feed manufacturers, Livestock producers, Biofuel companies, Other oilseed processors, and a variety of customers that purchase our refined oil products Raw Materials Globally sourced directly from farmers or indirectly through intermediaries.”

Annual report 2025A · The company itself

“This has in the past led, and can in the future lead, to significant volatility in commodity prices, disruptions in historical trade flows and shifts in planting patterns in the United States and South America, which have presented challenges and uncertainties for our business.”

Annual report 2025A · The company itself

“Business Overview We are a premier agribusiness solutions company, connecting farmers to consumers and delivering essential food, feed and fuel to the world. Our dedicated employees, integrated operations and global footprint give us access to key markets and a diverse agricultural network covering major crops. These capabilities help us manage seasonal cycles, weather variability and other risks as we partner with farmers to move crops from where they are grown to where they are needed.”

Annual report 2025A · The company itself

“Biofuels convert crops, such as sugarcane, corn, soybeans, palm, rapeseed, canola, and other oilseeds, into ethanol, renewable diesel, or biodiesel to extend, enhance or substitute for fossil fuels. Production of biofuels has increased significantly in the last decade in response to both periods of high fossil fuel prices and to government incentives to produce biofuels offered in many countries, including the United States, Brazil, Argentina, and several South-East Asian and European countries. Furthermore, in several countries, governmental authorities are mandating biofuel use in transport fuels at specified levels.”

Annual report 2025A · The company itself

“We also have joint ventures with several partners, including the Bunge Chevron JV for manufacturing low lifecycle carbon intensity transportation fuels.”

Annual report 2025A · The company itself

“Business Combination with Viterra Limited On July 2, 2025, we completed our Acquisition of Viterra in a stock and cash transaction, creating a premier global agribusiness solutions company for food, feed and fuel, that is well positioned to meet the demands of increasingly complex markets and better serve farmers and end-customers.”

Annual report 2025A · The company itself

“We have been an active acquirer of other companies, including our recent Viterra Acquisition. We also have joint ventures with several partners, including the Bunge Chevron JV for manufacturing low lifecycle carbon intensity transportation fuels.”

Annual report 2025A · The company itself

“As a result, we purchase and produce various materials, many of which are agricultural commodities, including soybeans, soybean oil, soybean meal, palm oil (from crude to various degrees of refined products), softseeds (including sunflower seed, rapeseed, and canola) and related oil and meal derived from them, wheat, barley, shea nut, corn, sugar, and cotton.”

Annual report 2025A · The company itself

“Softseed Processing and Refining In our Softseed Processing and Refining segment, we have 29 oilseed processing plants and 22 refining and packaging facilities throughout the world.”

Annual report 2025A · The company itself

“Other customers include grocery chains, wholesalers, distributors, and other retailers who sell to consumers either under our own brand names or private labels.”

Annual report 2025A · The company itself

“The primary customers for our wheat milling products are food processing, bakery, and food service companies, while the primary customers of our sugar milling products are food processing companies.”

Annual report 2025A · The company itself

“Key Commodities Corn, Wheat, Barley, Cotton, Pulses, Sugar Key Regions The operations and assets of our merchandising operations are located throughout the world; milling operations and assets are primarily located in South America.”

Annual report 2025A · The company itself

“Facilities by Business Area (metric tons) Aggregate Daily Production Capacity Aggregate Storage Capacity Business Area Soybean Processing and Refining 193,165 11,226,953 Softseed Processing and Refining 69,320 2,447,065 Other Oilseeds Processing and Refining 19,188 431,773 Grain Merchandising and Milling 30,887 19,486,773 Facilities by Geographic Region (metric tons) Aggregate Daily Production Capacity Aggregate Storage Capacity Region North America 72,391 10,177,820 South America 131,207 10,836,887 Europe 66,583 3,135,190 Asia-Pacific 42,379 9,442,667 Soybean Processing and Refining In our Soybean Processing and Refining segment, we have 35 oilseed processing plants, 22 refining and packaging facilities, and 17 port terminals throughout the world.”

Annual report 2025A · The company itself

“Other Oilseeds Processing and Refining segment Net sales increased 12%, to $4,633 million for the year ended December 31, 2025. The increase was primarily due to higher sales prices in our tropical oils business due to stronger demand resulting from global biofuel mandates and import tariffs, partially offset by lower volumes.”

Annual report 2025A · The company itself

“Additionally, there are 70 storage facilities globally that are located close 28 Table of Contents to these soybean facilities.”

Annual report 2025A · The company itself

“With more than 200 years of experience and operations in more than 50 countries, we are: •a leading global oilseed processor and producer of vegetable oils and protein meal, based on processing capacity and volume; •a leading global grain merchandiser, based on volume; •a leading seller of packaged plant-based oils worldwide, based on sales; and •a leading producer and seller of wheat flours, bakery mixes and related products in South America, based on volume.”

Annual report 2025A · The company itself

“Risk Management Bunge integrates material sustainability risks—including those arising from climate change, deforestation, human rights, and evolving regulations—into its ERM framework.”

Annual report 2025A · The company itself

“Table of Contents Risks Relating to Our Business and Industries Adverse weather conditions, including as a result of climate change, may adversely affect the availability, quality and price of agricultural commodities and agricultural commodity products, as well as our operations, supply chains, and operating results. Adverse weather conditions have historically caused volatility in the agricultural commodity industry and consequently in our operating results by causing crop failures or significantly reduced harvests, which may affect the supply and pricing of the agricultural commodities that we sell and use in our business, reduce demand for our fertilizer products, and negatively affect the creditworthiness of agricultural producers who do business with us.”

Annual report 2025A · The company itself

“Severe adverse weather conditions, such as hurricanes and severe storms, have historically and may in the future also result in extensive property damage, extended business interruption, personal injuries, and other loss and damage to us.”

Annual report 2025A · The company itself

“Our operations also rely on dependable and efficient transportation services, including transportation by ocean vessel, river barges, rail, and truck. A disruption in transportation services as a result of weather conditions, such as low river levels following periods of drought, has historically and may in the future also have an adverse impact on our operations and related supply chains.”

Annual report 2025A · The company itself

“These potential effects could include changes in rainfall patterns, water shortages, changing sea levels, changing storm patterns and intensities, shifts in agricultural production areas, changing temperature levels, increased frequency or severity of extreme weather events, and climatic volatility. The frequency and severity of the effects of climate change or weather patterns could increase and adversely impact our business operations and the location, costs and competitiveness of global agricultural commodity production and related storage and processing facilities, as well as the supply and demand for agricultural commodities, and may result in incidents of stranded physical assets.”

Annual report 2025A · The company itself

“Our business is seasonal, and our results may fluctuate depending on the harvest cycle of the crops upon which we rely and seasonal fluctuations related to the sale of our consumer products. As with any agricultural business enterprise, our business operations are seasonal in nature.”

Annual report 2025A · The company itself

“We are exposed to the risk that the underlying crop will be insufficient to satisfy a farmer's obligation under the financing arrangements as a result of weather and crop growing conditions, and other factors that influence the price, supply and demand for agricultural commodities.”

Annual report 2025A · The company itself

“As a result, we are subject to the risks inherent in such activities, including industrial accidents, environmental events, fires, explosions, strikes and other labor or industrial disputes, disruptions in logistics or information systems, as well as natural disasters, pandemics, wars (including the Ukraine-Russia war and conflicts in the Middle East), acts of terrorism, and other external factors over which we have no control.”

Annual report 2025A · The company itself

“The increase was primarily due to Net Sales contributions from the Viterra Acquisition, in addition to higher average sales prices in our European business resulting from a drought in the region impacting the sunflower seed crop in the current year and higher prices in our global softseed distribution business.”

Annual report 2025A · The company itself

“In addition, the prior year included insurance recoveries for damaged property and business interruption related to our Ukrainian operations as a result of the Ukraine-Russia war.”

Annual report 2025A · The company itself

“Additionally, from time-to-time, agricultural production shortfalls in certain regions, and growing demand for agricultural commodities for feed, food, and fuel use have caused prices for relevant agricultural commodities to rise. High commodity prices and regional crop shortfalls have led, and in the future may lead, governments to impose price 7 Table of Contents controls, tariffs, export restrictions and other measures designed to ensure adequate domestic supplies and/or mitigate price increases in their domestic markets, as well as increase the scrutiny of competitive conditions in their markets.”

Annual report 2025A · The company itself

“Over the past few years, certain of our competitors have added oilseed processing and refining capacity in response to growing demand.”

Annual report 2025A · The company itself

“We are subject to global and regional economic downturns and related risks. The level of demand for our products is affected by global and regional demographic and macroeconomic conditions, including population growth rates and changes in standards of living. A significant downturn in global economic growth, or recessionary conditions in major geographic regions, may lead to reduced demand for agricultural commodities and food products, which could adversely affect our business and results of operations.”

Annual report 2025A · The company itself

“Further, deteriorating economic and political conditions in our major markets, such as inflation, increased unemployment, decreases in disposable income, declines in consumer confidence, uncertainty about economic stability, political unrest, wars or other armed conflicts, or economic slowdowns or recessions, could cause a decrease in demand for our products.”

Annual report 2025A · The company itself

“Additionally, a slowdown in China's economy over a prolonged period, including as a result of tensions with the United States, or other western countries, population decline, the ongoing real estate crisis and other factors, could lead to reduced global demand for agricultural commodities.”

Annual report 2025A · The company itself

“We require significant amounts of capital to operate our business and fund capital expenditures. Our working capital needs are directly affected by the prices of agricultural commodities, with increases in commodity prices generally causing increases in our borrowing levels.”

Annual report 2025A · The company itself

“Seasonality While there is a degree of seasonality in the growing season and procurement of our principal raw materials, such as soybeans, softseeds, and grains, we typically do not experience material fluctuations in volume between the first and second half of the year since we are geographically diversified between the northern and southern hemispheres, and we sell and distribute products throughout the year.”

Annual report 2025A · The company itself

“Risk Management Bunge integrates material sustainability risks—including those arising from climate change, deforestation, human rights, and evolving regulations—into its ERM framework.”

Annual report 2025A · The company itself

“The ongoing war between Russia and Ukraine may adversely affect our business, financial condition or results of operations. We maintain operations in Ukraine.”

Annual report 2025A · The company itself

“We are subject to economic, political, and other risks of doing business globally and in emerging markets. We are a global business with a substantial majority of our assets and operations located outside the United States.”

Annual report 2025A · The company itself

“Additionally, there continues to be a great deal of uncertainty regarding U.S. and global trade policies for companies with multinational operations like ours. In recent years, there has been an increase in populism and nationalism in various countries around the world and consequently historical free trade principles are being challenged.”

Annual report 2025A · The company itself

“As a result, we are subject to the risks inherent in such activities, including industrial accidents, environmental events, fires, explosions, strikes and other labor or industrial disputes, disruptions in logistics or information systems, as well as natural disasters, pandemics, wars (including the Ukraine-Russia war and conflicts in the Middle East), acts of terrorism, and other external factors over which we have no control.”

Annual report 2025A · The company itself

“Additionally, from time-to-time, agricultural production shortfalls in certain regions, and growing demand for agricultural commodities for feed, food, and fuel use have caused prices for relevant agricultural commodities to rise. High commodity prices and regional crop shortfalls have led, and in the future may lead, governments to impose price 7 Table of Contents controls, tariffs, export restrictions and other measures designed to ensure adequate domestic supplies and/or mitigate price increases in their domestic markets, as well as increase the scrutiny of competitive conditions in their markets.”

Annual report 2025A · The company itself

“We are subject to fluctuations in agricultural commodity and other raw material prices, energy prices, and other factors outside of our control that could adversely affect our operating results. Prices for agricultural commodities and their by-products, including, among others, soybeans, corn, wheat, sugar and ethanol, like those of other commodities, are often volatile and sensitive to local and international changes in supply and demand caused by factors outside of our control, including farmer planting and selling decisions, currency fluctuations, inflation, government agriculture programs and policies (including tariffs), pandemics, governmental restrictions or mandates, global inventory levels, demand for biofuels, weather and crop conditions, and demand for and supply of competing commodities and substitutes.”

Annual report 2025A · The company itself

“Further, deteriorating economic and political conditions in our major markets, such as inflation, increased unemployment, decreases in disposable income, declines in consumer confidence, uncertainty about economic stability, political unrest, wars or other armed conflicts, or economic slowdowns or recessions, could cause a decrease in demand for our products.”

Annual report 2025A · The company itself

“Due to the international nature of our business, we are exposed to various risks of international operations, including: •adverse trade policies or trade barriers on agricultural commodities and commodity products; •new and developing requirements related to GHG emissions and other climate change initiatives and workforce mandates; •inflation, hyperinflation, and adverse economic effects resulting from governmental attempts to control inflation, such as the imposition of wage and price controls and higher interest rates.”

Annual report 2025A · The company itself

“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 the purchase and sale of our inventories.”

Annual report 2025A · The company itself

“Agricultural commodities are subject to price fluctuations due to a number of unpredictable factors, including inflationary pressures, that may create price risk.”

Annual report 2025A · The company itself

“Due to the international nature of our business, we are exposed to various risks of international operations, including: •adverse trade policies or trade barriers on agricultural commodities and commodity products; •new and developing requirements related to GHG emissions and other climate change initiatives and workforce mandates; •inflation, hyperinflation, and adverse economic effects resulting from governmental attempts to control inflation, such as the imposition of wage and price controls and higher interest rates.”

Annual report 2025A · The company itself

“Additionally, there continues to be a great deal of uncertainty regarding U.S. and global trade policies for companies with multinational operations like ours. In recent years, there has been an increase in populism and nationalism in various countries around the world and consequently historical free trade principles are being challenged.”

Annual report 2025A · The company itself

“Agricultural commodity production and trade flows are significantly affected by government policies and regulations. Governmental policies affecting the agricultural industry, such as taxes (including "windfall profits" taxes), tariffs, duties, subsidies, import and export restrictions, price controls on agricultural commodities, and energy policies (including biofuels mandates), can influence industry profitability, the planting of certain crops versus other uses of agricultural resources, the location and size of crop production, whether unprocessed or processed commodity products are traded, and the volume and types of imports and exports.”

Annual report 2025A · The company itself

“The increase was primarily due to higher sales prices in our tropical oils business due to stronger demand resulting from global biofuel mandates and import tariffs, partially offset by lower volumes.”

Annual report 2025A · The company itself

“We are subject to global and regional economic downturns and related risks. The level of demand for our products is affected by global and regional demographic and macroeconomic conditions, including population growth rates and changes in standards of living. A significant downturn in global economic growth, or recessionary conditions in major geographic regions, may lead to reduced demand for agricultural commodities and food products, which could adversely affect our business and results of operations.”

Annual report 2025A · The company itself

“The increase was primarily due to Net sales contributions from the Viterra Acquisition, in addition to higher sales prices and volumes in our global corn business, as well as higher volumes in our global wheat business as a result of higher demand across various regions for both businesses.”

Annual report 2025A · The company itself

“Additionally, our operating costs and the selling prices of certain of our products are sensitive to changes in energy prices. Our industrial operations utilize significant amounts of electricity, natural gas and coal, and our transportation operations are dependent upon diesel fuel and other petroleum-based products.”

Annual report 2025A · The company itself

“Energy Risk We purchase various energy commodities such as electricity, natural gas, and bunker fuel, which are used to operate our manufacturing facilities and ocean freight vessels. These energy commodities are subject to price risk, including inflationary pressures.”

Annual report 2025A · The company itself

“The costs of our freight supply agreements are typically passed through to our customers as a component of the prices we charge for our products. However, changes in the market value of such freight services compared to the rates at which we have contracted them may affect margins on the sales of agricultural commodities.”

Annual report 2025A · The company itself

“The results of this analysis, which may differ from actual results, are as follows: Year Ended Year Ended (US$ in millions) Fair Value Market Risk Fair Value Market Risk Highest daily aggregated position value $ 1,307 $ (131) $ 762 $ (76) Lowest daily aggregated position value $ (611) $ (61) $ (407) $ (41) Ocean Freight Risk Ocean freight represents a significant portion of our operating costs. The market price for ocean freight varies depending on the supply and demand for ocean vessels, global economic conditions, inflationary pressure, and other factors.”

Annual report 2025A · The company itself

“As a result of our international operations, we are also exposed to currency exchange rate fluctuations. Changes in exchange rates between the U.S. dollar and other foreign currencies, particularly the Brazilian real, Canadian dollar, the euro, and Chinese yuan/renminbi affect our revenues and expenses that are denominated in local currencies, affect farm economics in those regions and may also have a negative impact on the value of our assets located outside of the United States.”

Annual report 2025A · The company itself

“Currency Risk Our global operations require active participation in foreign exchange markets. Our primary foreign currency exposures are the Brazilian real, Canadian dollar, the Euro, and the Chinese yuan/renminbi.”

Annual report 2025A · The company itself

“Additionally, our operating costs and the selling prices of certain of our products are sensitive to changes in energy prices. Our industrial operations utilize significant amounts of electricity, natural gas and coal, and our transportation operations are dependent upon diesel fuel and other petroleum-based products.”

Annual report 2025A · The company itself

“Further, deteriorating economic and political conditions in our major markets, such as inflation, increased unemployment, decreases in disposable income, declines in consumer confidence, uncertainty about economic stability, political unrest, wars or other armed conflicts, or economic slowdowns or recessions, could cause a decrease in demand for our products.”

Annual report 2025A · The company itself

“As a result of our international operations, we are also exposed to currency exchange rate fluctuations. Changes in exchange rates between the U.S. dollar and other foreign currencies, particularly the Brazilian real, Canadian dollar, the euro, and Chinese yuan/renminbi affect our revenues and expenses that are denominated in local currencies, affect farm economics in those regions and may also have a negative impact on the value of our assets located outside of the United States.”

Annual report 2025A · The company itself

“As a result, we are subject to the risks inherent in such activities, including industrial accidents, environmental events, fires, explosions, strikes and other labor or industrial disputes, disruptions in logistics or information systems, as well as natural disasters, pandemics, wars (including the Ukraine-Russia war and conflicts in the Middle East), acts of terrorism, and other external factors over which we have no control.”

Annual report 2025A · The company itself

“Our operations have been and may in the future be adversely impacted as a result of public health crises, pandemics, and epidemics. Public health crises, pandemics and epidemics, have in the past adversely affected, and could in the future adversely affect our business, financial condition, and results of operations.”

Annual report 2025A · The company itself

“Additionally, a slowdown in China's economy over a prolonged period, including as a result of tensions with the United States, or other western countries, population decline, the ongoing real estate crisis and other factors, could lead to reduced global demand for agricultural commodities.”

Annual report 2025A · The company itself

“Additionally, weak global economic conditions and adverse conditions in global financial and capital markets, including fluctuating interest rates and constraints on the availability of credit, have in the past adversely affected, and may in the future adversely affect, the financial condition and creditworthiness of the financial institutions that serve as our lenders and as counterparties to the over-the-counter derivative instruments we use to manage risks and some of our customers, suppliers, and other counterparties, which in turn may negatively impact our financial condition and results of operations.”

Annual report 2025A · The company itself

“Additionally, weak global economic conditions and adverse conditions in global financial and capital markets, including fluctuating interest rates and constraints on the availability of credit, have in the past adversely affected, and may in the future adversely affect, the financial condition and creditworthiness of the financial institutions that serve as our lenders and as counterparties to the over-the-counter derivative instruments we use to manage risks and some of our customers, suppliers, and other counterparties, which in turn may negatively impact our financial condition and results of operations.”

Annual report 2025A · The company itself

“We rely on certain key information technology systems, some of which are dependent on services provided by third parties, to provide critical data and services for internal and external users, including procurement and inventory management, transaction processing, financial, commercial and operational data, human resources management, legal and tax compliance, and other information and processes necessary to operate and manage our business.”

Annual report 2025A · The company itself

“We are dependent on our executive management and other key personnel. Our success depends on our executive management team and other key personnel with skills upon which our business depends, and our ability to effectively identify, attract, retain, and motivate high quality employees, and replace those who retire or resign.”

Annual report 2025A · The company itself

“The decrease is due to lower sales prices in our tropical oils business, driven by a more balanced supply and demand environment and uncertainty related to U.S. biofuel policies.”

Annual report 2025A · The company itself

“The success of our supply chain relies on the continued performance of a wide array of third parties. Suppliers, vendors, co-manufacturers, third-party outsourcers, warehousing partners, and transportation providers are among our critical business partners.”

Annual report 2025A · The company itself

“On March 21, 2025, we entered into an agreement to sell our European margarines and spreads business. Completion of the sale is subject to customary closing conditions, including regulatory approval, and is expected to close in 2026.”

Annual report 2025A · The company itself

“Bunge’s Ukrainian operations at December 31, 2025 comprise four oilseed crushing facilities, located in Mykolaiv, Dnipropetrovsk, Kharkiv, and Vinnytsia, two export terminals in the Mykolaiv commercial seaport, and numerous grain elevators and offices throughout Ukraine.”

Annual report 2025A · The company itself

“The increase was primarily due to Net sales contributions from the Acquisition of Viterra, in addition to overall higher prices in Argentina, which encouraged farmer selling and higher volumes of oilseeds merchandised in our global soybean distribution business.”

Annual report 2025A · The company itself

“The increase was primarily due to Net Sales contributions from the Viterra Acquisition, in addition to higher average sales prices in our European business resulting from a drought in the region impacting the sunflower seed crop in the current year and higher prices in our global softseed distribution business.”

Annual report 2025A · The company itself

“In addition, the prior year included insurance recoveries for damaged property and business interruption related to our Ukrainian operations as a result of the Ukraine-Russia war.”

Annual report 2025A · The company itself

“The increase was primarily due to Net sales contributions from the Acquisition of Viterra, in addition to overall higher prices in Argentina, which encouraged farmer selling and higher volumes of oilseeds merchandised in our global soybean distribution business.”

Annual report 2025A · The company itself

“The net increase was primarily driven by improved results in our South American soybean processing and refining businesses and contributions from the Viterra Acquisition, partially offset by lower results in our North American processing and refining business.”

Annual report 2025A · The company itself

“The above decreases were slightly offset by higher volumes in South America resulting from the non-recurrence of the prior year drought in Argentina and higher volumes of oilseeds merchandised in our global soybean origination business.”

Annual report 2025A · The company itself

“As a publicly traded company incorporated in Switzerland, Bunge is also required under Swiss law to prepare a report covering five non-financial matters, namely environmental matters (in particular climate issues), social issues, employee-related issues (including diversity aspects), respect for human rights, and combating corruption.”

Annual report 2025A · The company itself