Financial Analysis

"COMMITMENTS AND CONTINGENCIES Bunge is party to claims and lawsuits, primarily from indemnities provided to third parties and labor claims in South America, arising in the normal course of business. Bunge is also involved from time to time in various contract, antitrust, environmental litigation and remediation, and other litigation, claims, government investigations, and legal proceedings. The ability to predict the ultimate outcome of such matters involves judgments, estimates, and inherent uncertainties. Bunge records liabilities related to legal matters when the exposure item becomes probable and can be reasonably estimated. Bunge management does not expect these matters to have a material adverse effect on Bunges financial condition, results of operations, or liquidity. However, these matters are subject to inherent uncertainties and there exists the remote possibility that a liability arising from these matters could have a material adverse impact in the period in which the uncertainties are resolved should the liability substantially exceed the amount of provisions included in the condensed consolidated balance sheets. Information regarding the claims appears in Bunges Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 19, 2026. Included in Other non-current liabilities as of June 30, 2026, and December 31, 2025, are the following amounts related to these matters: (US$ in millions) June 30, 2026 December 31, 2025 Non-income tax cl …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"FAIR VALUE MEASUREMENTS Bunge's various financial instruments include certain components of working capital such as Trade accounts receivable and Trade accounts payable. Additionally, Bunge uses short- and long-term debt to fund operating requirements. Trade accounts receivable, Trade accounts payable, and Short-term debt are generally stated at their carrying value, which is a reasonable estimate of fair value. See Note 3 - Trade Structured Finance Program for trade structured finance program, Note 7 - Other Non-Current Assets for long-term receivables from farmers in Brazil, net and other long-term investments, and Note 13 - Debt for short- and long-term debt. Bunge's financial instruments also include derivative instruments and marketable securities, which are stated at fair value. The fair value standard describes three levels within its hierarchy that may be used to measure fair value. Level Description Financial Instrument (Assets / Liabilities) Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities. Exchange traded derivative contracts. Marketable securities in active markets. Level 2 Observable inputs, including adjusted Level 1 quotes, quoted prices for similar assets or liabilities, quoted prices in markets that are less active than traded exchanges and other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Exchange traded derivative contracts …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

INCOME TAXES Income tax expense is provided on an interim basis based on managements estimate of the annual effective income tax rate and includes the tax effects of certain discrete items, such as changes in tax laws or tax rates or other unusual or non-recurring tax adjustments in the interim period in which they occur. In addition, results from jurisdictions projecting a loss for the year where no tax benefit can be recognized are treated discretely in the interim period in which they occur. The effective tax rate is highly dependent on the geographic distribution of the Companys worldwide earnings or losses and tax regulations in each jurisdiction. Management regularly monitors the assumptions used in estimating its annual effective tax rate, including the realizability of deferred tax assets, and adjusts estimates accordingly. Volatility in earnings within a taxing jurisdiction could result in a determination that additional valuation allowance adjustments may be warranted. Income tax expense for the three and six months ended June 30, 2026 was $236 million and $222 million, respectively. Income tax expense for the three and six months ended June 30, 2025 was $124 million and $204 million. The effective tax rates for the three and six months ended June 30, 2026 and June 30, 2025 were higher than the U.S. statutory rate of 21%, primarily due to the jurisdictional mix of earnings. As a global enterprise, the Company files income tax returns that are subject to periodic exa …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"DEBT The following table summarizes Bunge's short and long-term debt: (US$ in millions) June 30, 2026 December 31, 2025 Short-term debt and Current portion of long-term debt: Revolving credit facilities $ 830 $ 600 Commercial paper program 564 300 Other short-term debt 3,194 2,983 Total Short-term debt (1) 4,588 3,883 Current portion of long-term debt 1,200 1,337 Total Short-term debt and Current portion of long-term debt (2) 5,788 5,220 Long-term debt: (3) Term loan due 2027 - SOFR plus 1.000% 250 250 Term loan due 2028 - SOFR plus 1.200% 250 250 Term loan due 2028 - SOFR plus 1.100% 300 300 Term loan due 2028 - SOFR plus 1.100% 1,000 1,000 2.00% Senior Notes due 2026 (4) 575 3.25% Senior Notes due 2026 700 700 4.90% Senior Notes due 2027 442 443 3.75% Senior Notes due 2027 599 599 1.00% Senior Notes due 2028 - Euro 763 779 4.10% Senior Notes due 2028 399 398 4.20% Senior Notes due 2029 795 794 4.55% Senior Notes due 2030 646 645 3.20% Senior Notes due 2031 561 557 2.75% Senior Notes due 2031 994 994 5.25% Senior Notes due 2032 306 307 4.80% Senior Notes due 2033 495 4.65% Senior Notes due 2034 792 791 5.15% Senior Notes due 2035 644 643 5.15% Senior Notes due 2036 694 Cumulative adjustment to long-term debt from application of hedge accounting (216) (128) Other long-term debt 212 271 Subtotal (5) 10,626 10,168 Less: Current portion of long-term debt (1,200) (1,337) Total Long-term debt (6) 9,426 8,831 Total debt $ 15,214 $ 14,051 (1) In the fourth quarter of 2025, Bunge co …

LongTermDebtTextBlock · excerpt; the full note is in the filing

"New Accounting Pronouncements and Disclosure Rules In May 2026, the FASB issued ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818) (""ASU 2026-02""), which provides specific authoritative guidance for recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. ASU 2026-02 is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Entities must adopt the standard using a modified retrospective transition method and early adoption is permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures. In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832) (""ASU 2025-10""), which provides specific authoritative guidance for recognition, measurement, and presentation of government grants. Either a modified prospective or retrospective method of transition or a fully retrospective method of transition is permissible for the adoption of this standard. ASU 2025-10 is effective for annual reporting periods beginning after December 15, 2028, including interim reporting periods within those annual reporting periods. Early adoption is permitted in both periods in which financial statements have not yet been issued or made available for issuance. The adoption of this standard is not expected to have a material impact o …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

RELATED PARTY TRANSACTIONS Bunge purchases agricultural commodity products from certain of its unconsolidated investees and other related parties. Such related party purchases comprised approximately 9% or less of total Cost of goods sold for the three and six months ended June 30, 2026, and 2025. Bunge also sells agricultural commodity products to certain of its unconsolidated investees and other related parties. Such related party sales comprised approximately 3% or less of total Net sales for the three and six months ended June 30, 2026, and 2025. In addition, Bunge receives services from and provides services to its unconsolidated investees, including tolling, port handling, administrative support, and other services. For the three and six months ended June 30, 2026, and 2025, such services were not material to the Companys consolidated results. At June 30, 2026, and at December 31, 2025, receivables related to the above related party transactions comprised approximately 5% or less of total Trade accounts receivable. At June 30, 2026, and December 31, 2025, payables related to the above related party transactions comprised approximately 2% or less of total Trade accounts payable. Further, as referenced in Note 6 - Other Current Assets and Note 7 - Other Non-Current Assets , Bunge provides certain advance payments for future delivery of specified quantities of agricultural commodities and advances to its unconsolidated investees. At June 30, 2026, and at December 31, 2025 …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

"SEGMENT INFORMATION Effective in the third quarter of 2025, the Company changed its reportable segments to align with its new value chain operational structure as a result of the completion of the Acquisition of Viterra. Further, 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 Companys existing four reportable segments, nor the Companys previously reported segment results and consolidated financial statements. See Note 1 - Basis of Presentation, Principles of Consolidation, and Significant Accounting Policies . Following the changes, the Company's operations are organized, managed, and classified into four reportable segments - Soybean Processing and Refining, Softseed Processing and Refining, Tropical Oils and Specialty Ingredients, and Grain Merchandising and Milling, organized based upon their similar economic characteristics, products and services offered, production processes, types and classes of customer, and distribution methods. The Companys remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Corporate and Other. The 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 produ …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

EQUITY Share repurchase program During the three and six months ended June 30, 2026, Bunge repurchased 1,966,107 registered shares for $249 million under an existing share repurchase program, which was completed in the quarter. On March 9, 2026, Bunge Global SA's Board of Directors approved a new program for the repurchase of up to $3.0 billion of Bunge's issued and outstanding registered shares. Total remaining purchase authorizations were $3.0 billion as of June 30, 2026. The program has an indefinite term. Dividends on registered shares We paid cash dividends to shareholders as follows: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Dividends paid per share $ 0.72 $ 0.70 $ 1.42 $ 1.38 Dividend distributions are at the discretion of the Board of Directors and the approval of shareholders at a general meeting in accordance with Swiss law. On May 20, 2026, shareholders of Bunge Global SA approved a cash dividend distribution in the amount of $2.88 per share, payable in four equal quarterly installments of $0.72 per share beginning in the second quarter of fiscal year 2026 and ending in the first quarter of fiscal year 2027. Upon approval of a dividend, the obligation is reflected in Other current liabilities with a corresponding reduction in Retained earnings in the condensed consolidated balance sheet. At June 30, 2026, and December 31, 2025, the unpaid portion of the dividends accrued in Other current liabilities on the condensed consolidated bala …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing