DEF 14A of Bunge Global SA, Apr 10, 2026

DEF 14A of Bunge Global SA

Filed Apr 10, 2026 · FY20250001628280-26-024588

Open on EDGAR

  1. By Order of the Board of Directors

    By Order of the Board of Directors

  2. By Order of the Board of Directors

    | | | | April 10, 2026 | Lisa Ware-Alexander Senior Deputy General Counsel and Corporate Secretary |

  3. By Order of the Board of Directors

    | Proxy Statement Summary | 1 | | Annual General Meeting Information | 1 | | Proposals and Voting Recommendations for the Annual General Meeting | 2 | | Board Composition Snapshot | 3 | | Governance Highlights | 4 | | 2025 Financial and Strategic Highlights | 5 | | Sustainability Highlights | 6 | | Executive Compensation Highlights | 6 | | Shareholder Engagement Highlights | 7 | | Proposal 1 — Approval of the Swiss Statutory Consolidated Financial Statements and Swiss Standalone Statutory Financial Statements of Bunge Global SA for the year ended December 31, 2025 | 8 | | Proposal 2 — Approval of the Appropriation of the Available Earnings for Fiscal Year 2025 | 9 | | Proposal 3 — Approval of a Cash Dividend in the Aggregate Amount of U.S. $2.88 Per Outstanding Share Out of Bunge Global SA’s Reserve from Capital Contributions in Four Equal Installments | 10 | | Proposal 4 — Discharge of the Members of the Board and of the Executive Management Team from Liability for the Activities During Fiscal Year 2025 | 11 | | Proposal 5 — Election of Directors | 12 | | Committee Composition Following the 2026 Annual General Meeting | 12 | | Summary of Director Nominees | 13 | | Director Nominees | 14 | | Proposal 6 — Reelection of the Chair of the Board | 20 | | Proposal 7 — Reelection of Four Members of the Human Resources and Compensation Committee | 21 | | Corporate Governance | 22 | | Board and Corporate Governance Developments | 22 | | Director Onboarding | 22 | | Shareholder Engagement | 22 | | Board Structure and Size | 23 | | Director Selection and Qualifications | 23 | | Board Succession and Tenure | 24 | | Shareholder Recommendations and Director Nominations | 25 | | Board Independence | 25 | | Executive Sessions of Our Board | 26 | | Certain Relationships and Related Transactions | 26 | | Board Leadership Structure | 27 | | Board Meetings and Committees | 27 | | Board and Committee Evaluations | 32 |

  4. By Order of the Board of Directors

    Bunge | 2026 Proxy Statement i

  5. By Order of the Board of Directors

    | Director Development and Continuing Education | 33 | | Executive Succession Planning and Leadership Development | 33 | | Risk Oversight | 34 | | Corporate Governance Principles and Code of Conduct | 36 | | Communications with Our Board | 36 | | Board Member Attendance at Annual General Meetings | 36 | | Sustainability | 36 | | Human Capital Management | 38 | | Public Policy Engagements | 39 | | Director Compensation | 40 | | Director Compensation Table | 41 | | Share Ownership of Directors, Executive Officers and Principal Shareholders | 43 | | Proposal 8 — Advisory Vote to Approve Named Executive Officer Compensation Under U.S. Securities Law Requirements | 45 | | Compensation Discussion and Analysis | 46 | | Commitment to Shareholders | 46 | | Overview | 47 | | Determining Compensation | 49 | | Principal Elements of Our Executive Compensation Program | 52 | | Compensation Governance | 64 | | Compensation and Risk | 66 | | Human Resources and Compensation Committee Report | 67 | | Executive Compensation Tables | 68 | | Pay Ratio Disclosure | 76 | | Pay Versus Performance Disclosure | 77 | | Proposal 9 — Approval of the Compensation of the Board and Executive Management Team Under Swiss Law; Advisory Vote on the Swiss Statutory Compensation Report | 80 | | 9A. Approval of Maximum Aggregate Compensation of the Board for the Period Between the 2026 Annual General Meeting and the 2027 Annual General Meeting | 80 | | 9B. Approval of Maximum Aggregate Compensation of the Executive Management Team for the Fiscal Year 2027 | 80 | | 9C. Advisory Vote on Swiss Statutory Compensation Report | 81 | | Swiss Statutory Compensation Report | 83 | | Proposal 10 — Advisory Vote on the Swiss Statutory Non-Financial Matter Report | 94 | | Proposal 11 — Election of the Swiss Statutory Independent Voting Representative | 95 | | Proposal 12 — Appointment of Independent Auditor for U.S. Securities Law Requirements and Reelection of Statutory Auditor for Swiss Law Requirements | 96 |

  6. By Order of the Board of Directors

    Bunge | 2026 Proxy Statement ii

  7. By Order of the Board of Directors

    | Appointment of Deloitte & Touche LLP as Independent Auditor for U.S. Securities Law Reporting | 96 | | Reelection of Deloitte SA as Swiss Statutory Auditor for Fiscal Year 2026 | 96 | | Fees | 96 | | Audit Fees | 97 | | Audit-Related Fees | 97 | | Tax Fees | 97 | | All Other Fees | 97 | | Pre-Approval Policies and Procedures | 97 | | Audit Committee Report | 98 | | Shareholder Proposals for the 2027 Annual General Meeting of Shareholders | 99 | | Information About this Proxy Statement and Meeting | 100 | | Information About this Proxy Statement | 100 | | Information About the Meeting | 102 | | Information About Voting | 105 | | Solicitation of Proxies | 107 | | United States Securities and Exchange Commission Reports | 108 | | Other Matters | 108 | | Appendix A — Reconciliation of Non-GAAP Financial Measures | A-1 | | Appendix B — Swiss Statutory Non-Financial Matter Report | B-1 |

  8. By Order of the Board of Directors

    Bunge | 2026 Proxy Statement iii

  9. By Order of the Board of Directors

    | PROXY STATEMENT SUMMARY |

  10. By Order of the Board of Directors

    This summary highlights certain information contained in this proxy statement. As it is only a summary, please review the entire proxy statement before voting. Proxy materials, including the Notice of the Annual General Meeting of Shareholders, this proxy statement and the proxy card were first made available to shareholders on April 10, 2026. Annual General Meeting Information

  11. By Order of the Board of Directors

    | Time and Date: | Wednesday, May 20, 2026 at 8:30 AM Central Daylight Time (3:30 PM Central European Summer Time), with login beginning 15 minutes before the meeting start time. | | Location: | The Annual General Meeting will be a virtual meeting conducted exclusively online via live audio webcast, allowing shareholders to participate in the meeting from any location convenient to them. There will not be a physical meeting. | | Record Date: | Shareholders of record as of the close of business on April 28, 2026 are entitled to vote. | | Voting: | Each issued and outstanding registered share is entitled to one vote. You may submit voting instructions by telephone, internet, mail or by accessing the Annual General Meeting. Please see "Information About Voting" on page 105. | | Attendance: | To access the Annual General Meeting, please follow the instructions contained in "Information About the Meeting" on page 102. Shareholders who access the meeting will be allowed to submit questions in our virtual shareholder meeting forum before and during the meeting. |

  12. By Order of the Board of Directors

    Proposals and Voting Recommendations for the Annual General Meeting A majority of votes cast is required to approve each proposal, unless otherwise indicated.

  13. By Order of the Board of Directors

    | Proposal | | Board's Voting Recommendation | Page References (for more detail) | | 1 | Approval of the Swiss Statutory Consolidated Financial Statements and Swiss Standalone Statutory Financial Statements of Bunge Global SA for the Year Ended December 31, 2025 | ✔ FOR | 8 | | 2 | Approval of the Appropriation of Earnings for Fiscal Year 2025 | ✔ FOR | 9 | | 3 | Approval of a Cash Dividend in the Aggregate Amount of U.S. $2.88 Per Outstanding Share Out of Bunge Global SA’s Reserve from Capital Contributions in Four Equal Installments | ✔ FOR | 10 | | 4 | Discharge of the Members of the Board and of the Executive Management Team from Liability for the Activities During Fiscal Year 2025 | ✔ FOR | 11 | | 5 | Election of Directors | ✔ FOR EACH NOMINEE | 12 | | 6 | Reelection of the Chair of the Board | ✔ FOR | 20 | | 7 | Reelection of Four Members of the Human Resources and Compensation Committee | ✔ FOR EACH NOMINEE | 21 | | 8 | Advisory Vote to Approve Named Executive Officer Compensation Under U.S. Securities Law Requirements | ✔ FOR | 45 | | 9 | Approval of the Compensation of the Board and Executive Management Team under Swiss Law; Advisory Vote on the Swiss Compensation Report | ✔ FOR EACH PROPOSAL | 80 | | 10 | Advisory Vote on the Swiss Statutory Non-Financial Matter Report | ✔ FOR | 94 | | 11 | Election of the Swiss Statutory Independent Voting Representative | ✔ FOR | 95 | | 12 | Appointment of Independent Auditor for U.S. Securities Law Requirements and Reelection of Statutory Auditor for Swiss Law Requirements | ✔ FOR | 96 |

  14. By Order of the Board of Directors

    In this proxy statement, we sometimes refer to Bunge Global SA, as the context may require, as "we", "our", the "Company" or "Bunge." All references to "U.S. dollars", "U.S.$", "US$" or "$" in this proxy statement are to U.S. dollars, the official currency of the United States. Board Composition Snapshot Our director nominees possess a wide range of relevant and complementary skills, qualifications, backgrounds and experience. A comprehensive skills matrix, committee memberships and director biographies appear in “Election of Directors."

  15. By Order of the Board of Directors

    | Director Nominee Independence | Director Nominee Gender Representation(1) | Director Nominee Tenure | | | | |

  16. By Order of the Board of Directors

    | Director Nominee Skills(2) | | | | | | | | | | Public Company CEO Experience | 1 | | | | | | | | | Financial | | | | 6 | | | | | | Risk Management | | | | | | | | 11 | | Global Business Expertise | | | | | | | 10 | | | Agricultural Industry | | | | | 6 | | | | | Food Ingredient | | | 4 | | | | | | | Business Technology/Cybersecurity | | 3 | | | | | | | | Manufacturing & Logistics | | | | | | 8 | | | | Government & Public Policy | | 3 | | | | | | | | Sustainability | | | | 6 | | | | |

  17. By Order of the Board of Directors

    (1) The Swiss Code of Obligations requires at least 30% representation of each gender on the Board starting in 2026. (2) The high-level summary presented in the chart illustrates the principal board skills as a whole and is not intended to be an exhaustive list of the director nominees' contributions to the Board. Governance Highlights Our commitment to good governance practices includes the following:

  18. By Order of the Board of Directors

    | Active, Independent and Effective Board | | | | | → | Active engagement with stakeholders | | | → | Independent, non-executive Board Chair | | | → | Declassified Board | | | → | 11 out of 12 directors are independent | | | → | Independent Committee Chairs | | | → | Executive sessions of independent directors at each Board and committee meeting | | | → | Board and committees have access to independent legal, financial, executive compensation and other advisors | | | → | Directors have unlimited access to Company officers and employees | | | → | Robust board refreshment with a balance of new and experienced directors | | | → | High attendance rate (approximately 98% on average) at Board and committee meetings | | | → | To enhance alignment of director and shareholder interests, a substantial portion of director compensation is paid in equity | | Corporate Governance | | | | | → | Commitment to Board refreshment; average tenure of our Board is over 3 years | | | → | Annual review of the Corporate Governance Principles and committee charters | | | → | Audit Committee establishing a Technology Strategy and Risk Working Group to focus on oversight of technology and innovation risks and strategies, including cybersecurity and AI | | | → | Board members with a broad range of key skills, qualifications, backgrounds and experience; 42% of our director nominees are female(1) | | | → | Director retirement age of 72, except in exceptional circumstances | | | → | Simple majority voting standard at shareholder meetings implemented in 2022 in response to shareholder feedback | | | → | Board commitment to overseeing sustainability matters, and refreshed committee charters to clarify oversight | | | → | Annual Board review of Company strategy | | | → | Active risk oversight by full Board and committees | | | → | Robust Board and committee self-assessments and director nomination processes | | | → | Board takes active role in management succession planning | | | → | No Board member serves on an excessive number of outside public boards | | Shareholder Rights & Engagement | | | | | → | Annual election of directors | | | → | Long-standing and active shareholder outreach program with director participation | | | → | Single class of stock with equal voting rights | | | → | Holders of 5% or more of our issued and outstanding common shares may call a special meeting of shareholders | | | → | Our Articles of Association provide for proxy access whereby a shareholder can submit a request to include a nominee in the Company's proxy at any general meeting | | | → | No poison pill | | (1) The Swiss Code of Obligations requires at least 30% representation of each gender on the Board starting in 2026. | | |

  19. By Order of the Board of Directors

    2025 Financial and Strategic Highlights In 2025, we successfully completed our combination with Viterra, creating new opportunities across our supply chains. We are now better positioned to deliver greater value to all stakeholders. We delivered a strong year, even as we progressed with our integration. We made progress on our sustainability commitments and returned capital to shareholders through a balanced approach to capital allocation that included an increase in our quarterly dividend and share repurchases. Highlights of our operational, strategic and financial achievements in 2025 are provided below: (1)Full-year GAAP earnings per share represents earnings per share from continuing operations. Further, Adjusted EPS and Adjusted Funds from Operations are non-GAAP financial measures, see Appendix A – Reconciliation of Non-GAAP Financial Measures for reconciliation to the most directly comparable U.S. GAAP measure. Sustainability Highlights We also continue our commitment to sustainability, and we are further embedding climate-focused decision-making into our strategies, operations and investments. We have taken targeted actions to reduce our own environmental footprint and maintained strong collaboration with partners, customers and other stakeholders on priority sustainability topics across our supply chains. The following highlights are some of Bunge's(1) most significant achievements in 2025. (1) These highlights reflect Bunge on a standalone basis and do not reflect the combined Bunge-Viterra organization following the closing of the transaction. (2) Priority regions where deforestation is a higher risk in the Brazilian states of Maranhão, Tocantins, Piauí, Bahia and Mato Grosso (MATOPIBA+MT), Argentinian states of Chaco, Salta, Tucumán, Santiago del Estero and Jujuy, and Paraguayan Chaco Executive Compensation Highlights Our executive compensation philosophy is built on a strong foundation of linking pay with performance over the long term and is structured to: •Align the interests of executives with the long-term interests of shareholders. The majority of pay opportunity for our Named Executive Officers (NEOs) is delivered in the form of performance-based incentives.

  20. By Order of the Board of Directors

    | | Base Salary | Annual Cash Incentive | Long-Term Equity Incentive | | CEO Target Total Compensation Mix(1) | 8% | 15% | 77% | | | | 92% Variable | |

  21. By Order of the Board of Directors

    | | Base Salary | Annual Cash Incentive | Long-Term Equity Incentive | | Other NEO Target Total Compensation Mix(1) | 19% | 21% | 60% | | | | 81% Variable | |

  22. By Order of the Board of Directors

    (1) Base salary, target annual cash incentive and target value of long-term equity incentive awards at grant. Mr. Mattiske's compensation is excluded from the Other NEO average shown above. •Drive business goals and strategies. Incentive plan targets are directly tied to business goals and strategies, including sustainability goals, and are based upon metrics that drive long-term value creation. •Reward profitable growth and increased shareholder value. Performance metrics balance earnings growth and returns on investment. The pay mix is equity leveraged, resulting in realized compensation in line with stock price performance. The table below highlights our current executive compensation practices that drive performance and serve our shareholders' long-term interests.

  23. By Order of the Board of Directors

    | WHAT WE DO | WHAT WE DON'T DO | | ✔ We Do award 77% of target total compensation for our CEO and 60% for other NEOs on average in long-term equity-based incentives, a majority of which are performance-based ✔ We Do use multiple performance metrics for short-term and long-term awards ✔ We Do conduct an annual compensation risk assessment for employee incentive plans ✔ We Do have robust share ownership guidelines for directors, executive officers and other senior leaders ✔ We Do have executive recoupment policies, including a clawback policy that is intended to comply with Dodd-Frank rules adopted by the SEC and the NYSE | x We Don't allow repricing of stock options or buy out underwater stock options without shareholder approval x We Don't have single trigger change of control provisions x We Don't have golden parachute excise tax gross ups x We Don't allow hedging or pledging of Company shares or holding Company shares in margin accounts x We Don't allow transactions by directors, officers and Company insiders in Company stock without pre-clearance x We Don't have excessive executive perquisites |

  24. By Order of the Board of Directors

    Shareholder Engagement Highlights Shareholder feedback is a key input to our compensation program. At our 2025 Annual General Meeting, 84.6% of the votes cast on our annual say-on-pay advisory vote were in favor of our executive compensation program. Annually, we engage with our top shareholders who represent approximately 40–50% of our issued and outstanding shares, as well as proxy advisory firms and other industry thought leaders. We continued these practices in 2025 because shareholder engagement is a key priority of our Board and management.

  25. By Order of the Board of Directors

    | PROPOSAL 1 — APPROVAL OF THE SWISS STATUTORY CONSOLIDATED FINANCIAL STATEMENTS AND SWISS STANDALONE STATUTORY FINANCIAL STATEMENTS OF BUNGE GLOBAL SA FOR THE YEAR ENDED DECEMBER 31, 2025 |

  26. By Order of the Board of Directors

    Under Swiss law, the management report (except where the Company establishes consolidated financial statements pursuant to recognized international accounting standards such as accounting principles generally accepted in the United States of America ("U.S. GAAP")), the standalone statutory financial statements and, if applicable, the consolidated financial statements of a company with regard to the preceding financial year must be submitted to shareholders for approval at each annual general meeting. As a result, shareholders are being asked to approve the audited consolidated financial statements of Bunge for fiscal year 2025 and the audited standalone statutory financial statements of Bunge for fiscal year 2025. Bunge's consolidated financial statements are prepared in accordance with U.S. GAAP and therefore Bunge is not required to submit the management report to a shareholder vote. If the shareholders do not approve this proposal, the Board may call an extraordinary general meeting of shareholders for reconsideration of this proposal by shareholders, but is not required to do so. The audited consolidated financial statements of Bunge for fiscal year 2025 and the audited standalone statutory financial statements of Bunge for fiscal year 2025, together with the audit reports by Deloitte SA, the Company's statutory auditor pursuant to the Swiss Code of Obligations (the "Swiss Code"), are contained in the Company's 2025 Annual Report, which, along with this proxy statement, are available at investors.bunge.com/governance/governance-document. In its reports, Deloitte SA recommended without qualification that the Company’s Swiss Statutory Consolidated Financial Statements and Swiss Standalone Statutory Financial Statements for the fiscal year ended December 31, 2025, be approved. Deloitte SA expresses its opinion that the consolidated financial statements for the fiscal year ended December 31, 2025 present fairly in all material respects the consolidated financial position of the Company as of December 31, 2025, the Company's consolidated financial performance and the Company's consolidated cash flows for the year then ended in accordance with U.S. GAAP and comply with Swiss law and the Company's articles of incorporation. Deloitte SA further expresses its opinion and confirms that the statutory financial statements for the year ended December 31, 2025 comply with Swiss law and the Articles of Association of the Company.

  27. By Order of the Board of Directors

    | ☑ | OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE APPROVAL OF THE SWISS STATUTORY CONSOLIDATED FINANCIAL STATEMENTS AND SWISS STANDALONE STATUTORY FINANCIAL STATEMENTS OF BUNGE GLOBAL SA FOR THE YEAR ENDED DECEMBER 31, 2025 |

  28. By Order of the Board of Directors

    | PROPOSAL 2 — APPROVAL OF THE APPROPRIATION OF AVAILABLE EARNINGS FOR FISCAL YEAR 2025 |

  29. By Order of the Board of Directors

    Under Swiss law, the appropriation of available earnings or accumulated loss, as the case may be, as set forth in the Company's Swiss standalone statutory (i.e., non-consolidated) financial statements1 must be submitted to shareholders for approval at each annual general meeting. Available earnings may be carried forward or be distributed to shareholders as dividends. We do not expect to pay dividends from available earnings in the foreseeable future as they would not be exempt from Swiss withholding tax. Instead, as proposed under agenda item 3, we intend to declare distributions from the Company's reserve from capital contributions. Unlike dividends declared from available earnings, distributions from the Company's reserve from capital contributions will be exempt from Swiss withholding tax. The Board proposes that the total available earnings as of December 31, 2025 be appropriated as follows:

  30. By Order of the Board of Directors

    | Amounts in thousands Proposed Appropriation of Available Earnings | | U.S. dollars | | Swiss francs | | Accumulated loss | USD | (69,792) | CHF | (55,324) | | Net income for the period | USD | 197,989 | CHF | 156,946 | | Total retained earnings | USD | 128,197 | CHF | 101,622 |

  31. By Order of the Board of Directors

    Text of the Shareholder Resolution: IT IS RESOLVED, that the total available earnings of $128,197,000 be carried forward to the next fiscal year, as presented in the Company's standalone statutory financial statements.

  32. By Order of the Board of Directors

    | ☑ | OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE CARRY FORWARD OF THE TOTAL AVAILABLE EARNINGS TO THE NEXT FISCAL YEAR |

  33. By Order of the Board of Directors

    1 A copy of the Company’s Swiss statutory standalone (i.e., non-consolidated) financial statements are contained in the Company's 2025 Annual Report, which, along with this proxy statement, are available at: investors.bunge.com/governance/governance-document.

  34. By Order of the Board of Directors

    | PROPOSAL 3 — APPROVAL OF A CASH DIVIDEND IN THE AGGREGATE AMOUNT OF U.S. $2.88 PER OUTSTANDING SHARE OUT OF BUNGE GLOBAL SA'S RESERVE FROM CAPITAL CONTRIBUTIONS IN FOUR EQUAL INSTALLMENTS |

  35. By Order of the Board of Directors

    Under Swiss law, shareholders must approve at a general meeting of shareholders the payment of a dividend to be paid out of the reserve from capital contributions. The Board proposes that the Company pay an ordinary cash dividend in the amount of $2.88 per share out of the reserve from capital contributions as shown on the balance sheet included in our Swiss standalone statutory financial statements. Payment of the dividend will be made in four equal quarterly installments of $0.72, with the first installment to be paid on June 1, 2026 to shareholders of record at the close of business on May 22, 2026, the second installment to be paid on September 1, 2026 to shareholders of record at the close of business on August 18, 2026, the third installment to be paid on December 1, 2026 to shareholders of record at the close of business on November 17, 2026, and the fourth installment to be paid on March 2, 2027 to shareholders of record at the close of business on February 16, 2027. Dividend payments will be made with respect to our outstanding share capital on the record date for the applicable dividend payment, which will exclude any shares of Bunge held by Bunge or any of its direct or indirect subsidiaries. The reduction to our reserve from capital contributions in our Swiss statutory financial statements will be determined based on the aggregate amount of the dividend paid through all quarterly installments. If the proposal is approved, the aggregate U.S. dollar amount of the dividend will be capped at an amount such that the aggregate reduction to our reserve from capital contributions will not exceed $697,375,319. This includes a 25% margin (compared to the aggregate dividend amount calculated by reference to the 193,408,656 shares outstanding as of December 31, 2025 and an ordinary cash dividend in the amount of $2.88 per share) to accommodate new share issuances that may occur between the annual general meeting and the record date for the fourth installment payment. The number of shares eligible for dividend payments may change due to the repurchase of shares, the sale of treasury shares, or the issuance of new shares, including based on the Company's capital band and conditional share capital. Shares issued out of treasury or our capital band will be entitled to quarterly dividend installments if issued and outstanding as of an applicable record date for a dividend installment. If the aggregate dividend payment is lower than the cap, any unused amount will be allocated back to the Company's reserve from capital contributions. To the extent that a dividend payment would cause the cap to be exceeded, the U.S. dollar per share amount of the current or future dividends will be reduced on a pro rata basis so that the aggregate amount of all dividends paid does not exceed the cap. If the cap were reached, no further installment payments could be made. Our statutory auditor, Deloitte SA, has confirmed that the dividend proposal conforms with the requirements of the Swiss Code and our Articles of Association.

  36. By Order of the Board of Directors

    | ☑ | OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE APPROVAL OF A CASH DIVIDEND IN THE AGGREGATE AMOUNT OF U.S. $2.88 PER OUTSTANDING SHARE OUT OF BUNGE GLOBAL SA'S RESERVE FROM CAPITAL CONTRIBUTIONS IN FOUR EQUAL INSTALLMENTS |

  37. By Order of the Board of Directors

    | PROPOSAL 4 — DISCHARGE OF THE MEMBERS OF THE BOARD AND OF THE EXECUTIVE MANAGEMENT TEAM FROM LIABILITY FOR THE ACTIVITIES DURING FISCAL YEAR 2025 |

  38. By Order of the Board of Directors

    In accordance with Article 698, paragraph 2, item 7 of the Swiss Code, it is customary for Swiss companies to request shareholders at the annual general meeting to discharge the members of the Board and the Executive Management Team from personal liability for their activities during the preceding fiscal year. Accordingly, shareholders are being requested to grant the members of the Board and of the Executive Management Team discharge from personal liability with respect to activities during fiscal year 2025. Discharge pursuant to the proposed resolution is only effective with respect to facts that have been disclosed to shareholders (including through any publicly available information, regardless of whether it is included in our filings with the SEC) and only binds shareholders who either voted in favor of the proposal or who subsequently acquired shares with knowledge that the shareholders have approved this proposal. In addition, shareholders who vote against this proposal, abstain from voting on this proposal, do not vote on this proposal, or acquire their shares without knowledge of the approval of this proposal, may bring, as a plaintiff, any claims in a shareholder derivative suit within twelve months after the approval of the proposal. After the expiration of the twelve-month period, such shareholders will generally no longer have the right to bring, as a plaintiff, claims in shareholder derivative suits against members of the Board or Executive Management Team with respect to activities during fiscal year 2025.

  39. By Order of the Board of Directors

    | ☑ | OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE DISCHARGE OF THE MEMBERS OF THE BOARD AND OF THE EXECUTIVE MANAGEMENT TEAM FROM LIABILITY FOR THE ACTIVITIES DURING FISCAL YEAR 2025 |

  40. By Order of the Board of Directors

    | PROPOSAL 5 — ELECTION OF DIRECTORS |

  41. By Order of the Board of Directors

    The Board of Directors, upon the recommendations of the Corporate Governance and Nominations Committee, has nominated the 12 directors listed on the following pages for election at the 2026 Annual General Meeting, each to serve a one-year term until the next annual general meeting. The Board believes this slate reflects the right mix of independence, backgrounds, tenure and skills to oversee our strategy and risk profile. Ms. Jensen and Messrs. Isman, Mahoney and Walt were nominated pursuant to the Shareholder Agreements entered into with CPPIB Monroe Canada Inc. ("CPP Investments") and Danelo Limited ("Glencore"), which became effective upon the closing of the Viterra Transaction (as defined below). Additional information regarding these arrangements is provided in “Corporate Governance – Board and Corporate Governance Developments” on page 22. The Board believes these four directors—each of whom has served as incumbent members of the Board since July 2, 2025—bring deep expertise in global agribusiness, commodities, supply chains, international markets, trading, logistics, strategy, and risk management, strengthening the Board’s ability to oversee the combined company. Committee Composition Following the 2026 Annual General Meeting Following the Annual General Meeting on May 20, 2026, committee membership is expected to be structured as shown below. Additional details on committee responsibilities appear in the "Corporate Governance" section on page 22.

  42. By Order of the Board of Directors

    | Name | | Age | Director Since | Other Public Boards | Independent | Committee Membership | | | | | | | | | | | | Audit(1) | CGNC(2) | ERMC(3) | HRCC(4) | SCRC(5) | | | Eliane Aleixo Lustosa de Andrade | 63 | 2022 | 3 | Yes | l | | | | l | | | Carol Browner | 70 | 2013 | 0 | Yes | | l | | | l (C) | | | Gregory Heckman Chief Executive Officer | 64 | 2018 | 1 | No | | | l | | | | | Adrian Isman | 63 | 2025 | 0 | Yes | l | | l | | | | | Anne Jensen | 53 | 2025 | 0 | Yes | | | l | | l | | | Linda Jojo | 61 | 2025 | 2 | Yes | l | l | | | | | | Christopher Mahoney | 67 | 2025 | 0 | Yes | | l | l (C) | | | | | Monica McGurk | 56 | 2023 | 0 | Yes | | | | l | l | | | Kenneth Simril | 60 | 2021 | 0 | Yes | l | | | l (C) | | | | Markus Walt | 48 | 2025 | 0 | Yes | | | l | l | | | | Henry "Jay" Winship | 58 | 2018 | 0 | Yes | l (C) | l | | l | | | | Mark Zenuk Board Chair | 59 | 2018 | 0 | Yes | | l (C) | | | | | l Member (C) Chair | | | | | | | | | | | | (1) Audit Committee | | | | (4) Human Resources and Compensation Committee | | | | | | | | (2) Corporate Governance and Nominations Committee | | | | (5) Sustainability and Corporate Responsibility Committee | | | | | | | | (3) Enterprise Risk Management Committee | | | | | | | | | | |

  43. By Order of the Board of Directors

    Summary of Director Nominees The Board believes the slate of 12 director nominees collectively provides the necessary skills, diversity of experience, global perspective, and strategic insight to oversee the Company's operations, support the successful integration of Viterra Limited ("Viterra"), and guide Bunge's long-term value creation. A high‑level director skills matrix follows, reflecting the primary areas of expertise of each director nominee. The matrix is not intended to be exhaustive; rather, it highlights the qualifications most relevant to the Board’s oversight responsibilities. In 2025, the Board welcomed five new directors, each of whom brings significant industry expertise aligned with the strategic direction of the combined organization. These directors have now fully integrated into the Board and its committee structure, consistent with the long‑term succession planning framework previously described.

  44. By Order of the Board of Directors

    | | | Aleixo Lustosa | Browner | Heckman | Isman | Jensen | Jojo | Mahoney | McGurk | Simril | Walt | Winship | Zenuk | | @ | Key Skills and Experience | | | | | | | | | | | | | | | Public Company CEO Experience | | | l | | | | | | | | | | | | Financial | l | | | | | l | | | l | l | l | l | | | Risk Management | l | l | l | l | l | l | l | l | | l | l | l | | | Global Business Expertise | l | | l | l | l | l | l | l | l | l | | l | | | Agricultural Industry | | l | l | l | | | l | | l | | l | l | | | Food Ingredient | | | l | | | | | l | l | | l | | | | Business Technology/Cybersecurity | | | | | | l | | l | | l | | | | | Manufacturing and Logistics | | | l | l | l | | l | | l | l | l | l | | | Government and Public Policy | l | l | | | l | | | | | | | | | | Sustainability | l | l | | l | l | | l | l | | | | | | 6 | Tenure and Independence | | | | | | | | | | | | | | | Board Tenure (Years Completed) | 3 | 12 | 7 | 0 | 0 | 0 | 0 | 3 | 4 | 0 | 7 | 7 | | | Independent | l | l | | l | l | l | l | l | l | l | l | l | | m | Demographics | | | | | | | | | | | | | | | Age | 63 | 70 | 64 | 63 | 53 | 61 | 67 | 56 | 60 | 48 | 58 | 59 | | | Gender(1) | F | F | M | M | F | F | M | F | M | M | M | M | | | Nationality(2) | | | | | | | | | | | | |

  45. By Order of the Board of Directors

    (1) The Swiss Code of Obligations requires at least 30% representation of each gender on the Board starting in 2026. (2) = Brazil; = U.S.; = U.S./Canada; = US/Argentina/Poland; = Denmark; =U.K.; =Switzerland

  46. By Order of the Board of Directors

    | Director Nominees The following paragraphs set forth information about the nominees following the Annual General Meeting. | | | Director Since: 2022 Committees •Audit •Sustainability and Corporate Responsibility Qualifications •Financial •Risk Management •Global Business Expertise •Government and Public Policy •Sustainability | Eliane Aleixo Lustosa de Andrade | Age: 63 Ms. Aleixo Lustosa most recently served as Managing Director at the Brazilian Development Bank, National Bank for Economic and Social Development from 2016 to 2019, where she was responsible for capital markets and the execution of the Brazilian Privatization Program. Earlier in her career, she served as Managing Director of several companies, such as LLX Logística S.A. (currently Prumo Logística S.A.), Abril Group S.A., Globex Utilidades S.A. and Chief Investment Officer of the Petrobras’ Employee Pension Fund. She has been a referee of the Brazilian Arbitration Chamber of Novo Mercado Bovespa - B3 - Brazilian Stock Market since 2004, and is a member of the Bluebell Index advisory board. Ms. Aleixo Lustosa has a Ph.D in Finance and Masters of Arts and Bachelor of Arts degrees in Economics from Pontifical Catholic University of Rio de Janeiro, Brazil, where she later served as a professor of microeconomics and international relations. She has four Board Member certifications: Competent Boards (Global ESG & Climate Certificate & Designation Program), Fundação Getulio Vargas (High-Performance Boards Program), INSEAD (Leading from the Chair), and the Brazilian Institute of Corporate Governance (IBGC), where she also teaches Corporate Governance. Qualifications Ms. Aleixo Lustosa brings to the Board extensive experience in global capital markets and financial risk management, as well as regulation and public policy and advising large, complex organizations in both the public and private sectors. She also has a deep understanding of the South American capital and energy markets, which provides her with valuable insights for Bunge’s operations in South America. Other Public Company Directorships (within the past 5 years) •Motiva S.A. (f/k/a Grupo CCR S.A.) (2020 to Present) •BrasilAgro S.A. (2021 to Present) •Aegea Saneamento S.A. (2022 to Present) | | Director Since: 2013 Committees •Corporate Governance and Nominations •Sustainability and Corporate Responsibility (Chair) Qualifications •Risk Management •Agricultural Industry •Government and Public Policy •Sustainability | Carol Browner | Age: 70 Ms. Browner currently serves as senior of counsel at Covington & Burling LLP, a multinational law firm, and is a member of their environmental, social and governance practice, and has served in this role since 2021. From 2011 to 2021, Ms. Browner was senior counsel at Albright Stonebridge Group, a global advisory firm. From 2009 to 2011, she served as Assistant to President Barack Obama and Director of the White House Office of Energy and Climate Change Policy. From 2001 to 2008, Ms. Browner was a founding principal of the Albright Group and Albright Capital Management LLC. Previously, she served as Administrator of the Environmental Protection Agency from 1993 to 2001. She holds a J.D. and B.A. from the University of Florida. Qualifications Ms. Browner brings to the Board deep expertise in environmental regulations and public policy, and sustainability, particularly with respect to agriculture, energy and renewable fuels. She also has extensive experience advising large, global and complex organizations like Bunge in both the public and private sectors. Other Public Company Directorships (within the past 5 years) •None |

  47. By Order of the Board of Directors

    | Director Since: 2018 Committees •Enterprise Risk Management Qualifications •Public Company CEO Experience •Risk Management •Global Business Expertise •Agricultural Industry •Food Ingredient •Manufacturing and Logistics | Gregory Heckman | Age: 64 Mr. Heckman has been our CEO since 2019 and also has served as a director since October 2018. Mr. Heckman has more than four decades of experience in the agriculture, energy and food processing industries. He was a Founding Partner of Flatwater Partners and has served as CEO of The Gavilon Group from 2008 to 2015. At Gavilon, he oversaw significant growth in the agriculture and energy sectors, culminating in the sale of the agriculture business to Marubeni Corporation and the energy business to NGL Energy Partners. Prior to that, he held positions as the Chief Operating Officer of ConAgra Foods Commercial Products and President and COO of ConAgra Trade Group. Mr. Heckman serves as Deputy Chair on the board of the Federal Reserve Bank of St. Louis, a board member for the non-profit organization FCLTGlobal, and is a member of the CEO Council for the New York Stock Exchange Board Services and the Executive Committee of the Chair's Council for Greater St. Louis, Inc. Mr. Heckman holds a B.S. in agriculture economics and marketing from the University of Illinois at Urbana-Champaign. Qualifications Mr. Heckman's deep agribusiness and food industry knowledge and leadership experience, his proven track record in driving growth and shareholder value at Bunge and previous businesses he has led, as well as his extensive experience leading a complex global organization, provide the Board with valuable perspectives as we continue to grow our portfolio of businesses, while increasing our focus on sustainability and optimizing our operations and risk management execution. Other Public Company Directorships (within the past 5 years) •OCI NV (2015 to Present) | | Director Since: 2025 Committees •Audit •Enterprise Risk Management Qualifications •Risk Management •Global Business Expertise •Agricultural Industry •Manufacturing and Logistics •Sustainability | Adrian Isman | Age: 63 Mr. Isman has served as the Chief Growth Officer of Calosense Inc., a medical services company, since January 2025, and previously served as its CEO from November 2023 to December 2024. Prior to Calosense, Mr. Isman worked at Louis Dreyfus Company (LDC), a global agriculture commodities company beginning in 1985. He left LDC in 1997 to serve as CEO of Marc Rich Agriculture Latin America until 2000, when he returned to LDC until his retirement in 2022. While at LDC, Mr. Isman served as CEO of the North America Region from 2017 to 2022. Prior to that, he served in various roles of increasing responsibility in regions across South America, Asia and the United States, including commodities trading and government relations, and as Chief Operations Officer and Chief Executive Officer for various regions, Head of the Juices platform, and Co-Head of the Grains and Oilseeds platform. Mr. Isman currently serves as a director for Purefield Ingredients, a private agriculture company. Mr. Isman holds an undergraduate degree in Economics from the Universidad de Buenos Aires, an Advanced Management Program degree from INSEAD and Fundacao Dom Cabral, and a Corporate Governance Program certificate from the Columbia Business School. Qualifications Mr. Isman's extensive experience leading a global agriculture commodities company, including his extensive experience in commodities trading, mergers and acquisitions and government relations, provides the Board with valuable leadership expertise in agriculture, commodities, transactions and public policy. In addition, Mr. Isman brings extensive international experience, with a deep understanding of South American markets. He also has extensive experience in oilseed processing, a core area of Bunge’s business. Other Public Company Directorships (within the past 5 years) •Biosev SA (2019 to 2021) |

  48. By Order of the Board of Directors

    | Director Since: 2025 Committees •Enterprise Risk Management •Sustainability and Corporate Responsibility Qualifications •Risk Management •Global Business Expertise •Manufacturing and Logistics •Government and Public Policy •Sustainability | Anne Jensen | Age: 53 Ms. Jensen is the Chief Operating Officer at DS NORDEN, a position she assumed in January 2024. She brings more than 25 years of experience in the oil and gas industry, combined with recent executive leadership in global shipping. Ms. Jensen brings deep expertise in business strategy, M&A, trading, exploration and production, and global energy markets. Her leadership is marked by a commitment to building dynamic, inclusive, and high-performing organizations. Prior to joining NORDEN, she served as President and CEO of TotalEnergies Canada from 2021 to 2023, where she led the company through a period of strong financial performance, including record EBITDA of nearly $1 billion in 2021 and above $1.5 billion in 2022. Earlier in her career, she held senior roles at Maersk Oil and Shell. At Maersk, she established the company’s trading business and introduced governance and risk management frameworks. At Shell, she led the transformation of the Trading West Africa business, managing divested assets and regional crude flows. Ms. Jensen has worked extensively across North America, the Caribbean, London and Copenhagen, and has developed long-standing relationships with stakeholders across Europe, the Americas, Africa and Asia. She holds a Bachelor of Commerce in Economics from Copenhagen Business School. Qualifications Ms. Jensen has extensive leadership experience in the energy industry and commodity supply chains. She also has experience leading in a global company, and a deep understanding of strategy, business development, risk management, logistics, sustainability and compliance. She also has extensive experience in dealing with Canadian markets and regulatory agencies, where Bunge has a significant footprint. Other Public Company Directorships (within the past 5 years) •None | | Director Since: 2025 Committees •Audit •Corporate Governance and Nominations Qualifications •Financial •Risk Management •Global Business Expertise •Business Technology/Cybersecurity | Linda Jojo | Age: 61 Ms. Jojo served as the Executive Vice President, Chief Customer Officer for United Airlines (United), one of the largest airlines in the world, from 2022 until her retirement in 2024. In this role, she had oversight of digital technology, contact centers, customer solutions and innovation. From 2017-2022, she served as United’s Executive Vice President of Technology and Chief Digital Officer, where she led information technology, data analytics, digital products, e-commerce, cybersecurity, and the airline’s digital strategy. Prior to joining United in 2014, she served as Executive Vice President and Chief Information Officer for Rogers Communications, a wireless communications and media company, where she was responsible for all IT systems for both customer-facing and business support systems. Prior to this, Ms. Jojo served in other senior officer roles at Energy Future Holdings Corporation, Flowserve Corporation and General Electric. Ms. Jojo serves on the board of trustees at Rensselaer Polytechnic Institute in Troy, N.Y. and on the board at Hero Digital Holdings LLC. Ms. Jojo holds a bachelor’s degree in computer science and a master’s degree in industrial engineering from Rensselaer Polytechnic Institute. Qualifications Ms. Jojo brings extensive experience leading complex IT organizations and valuable technology, cybersecurity and innovation expertise to Bunge's Board. Her background in computer science and industrial engineering supports the Board's oversight of risk and cybersecurity programs and initiatives. Her experience as Chief Customer Officer at United Airlines also brings valuable experience in customer solutions and innovation. Other Public Company Directorships (within the past 5 years) •Exelon Corp. (2015 to Present) •Norwegian Cruise Line Holdings Ltd. (2025 to Present) |

  49. By Order of the Board of Directors

    | Director Since: 2025 Committees •Corporate Governance and Nominations •Enterprise Risk Management (Chair) Qualifications •Risk Management •Global Business Expertise •Agriculture Industry •Manufacturing and Logistics •Sustainability | Christopher Mahoney | Age: 67 Mr. Mahoney is the former Chief Executive Officer of Glencore Agriculture Ltd., where he worked for 21 years and served as CEO from 2002 until his retirement in 2019. While at Glencore, Mr. Mahoney led the 2012 acquisition of Viterra. Mr. Mahoney served as a non-executive director of Viterra from 2019 until the acquisition by Bunge in July 2025, and as non-executive Chairman of the Board of Directors of ED&F Man Holdings Ltd., a global agricultural commodities and financial services merchant, from 2021 to June 2025. Prior to working for Glencore, Mr. Mahoney worked for Cargill in various roles of increasing responsibility from 1982 to 1997. Mr. Mahoney currently serves as a non‑executive director of Vosbor Exchange BV and STX Group BV, both privately held companies. Mr. Mahoney has a Master of Arts from Oriel College, University of Oxford, U.K., and completed the Tuck Executive Program at Dartmouth College. Qualifications Mr. Mahoney’s experience as a former chief executive officer of a large international agriculture company and his extensive experience in commodities trading provide the Board with valuable perspectives. In addition, he has significant merger and acquisition experience and brings invaluable insight into Viterra’s business. He also brings significant global agribusiness leadership experience, working in both the U.S., Europe and Switzerland, as well as extensive experience with Asian and South American markets. Other Public Company Directorships (within the past 5 years) •None | | Director Since: 2023 Committees •Human Resources and Compensation •Sustainability and Corporate Responsibility Qualifications •Risk Management •Global Business Expertise •Food Ingredient •Business Technology/Cybersecurity •Sustainability | Monica McGurk | Age: 56 Ms. McGurk is currently the Chief Executive Officer of Glanbia Performance Nutrition Americas (Glanbia), which she joined in September 2024. Prior to Glanbia, she served in executive leadership roles at Tropicana Brands Group (TBG) from September 2022 to August 2024, including as Chief Executive Officer of TBG’s North America operations and Chief Executive Officer of the Mainstream Brands Business Unit. Prior to her roles at TBG, she held a number of positions at Kellogg Company, including Chief Growth Officer from 2019 to 2022 and the Chief Global Revenue and eCommerce Officer from 2018 to 2019. Prior to working at Kellogg Company, she worked at Tyson Foods and The Coca-Cola Company where she held various leadership positions in strategy, P/L leadership, and digital media. She is a former non-employee director of the privately held company PivotBio. Ms. McGurk holds a B.A. in Government from Harvard University and an M.B.A., a Certificate in Public Management and a M.A. in Education from Stanford University. Additionally, she completed the Executive Education Agribusiness Seminar at Harvard Business School; Ethics of AI at the University of Helsinki, Finland; and Introduction to ESG at the Corporate Finance Institute. Qualifications Ms. McGurk brings to the Board significant experience in enterprise risk management, covering financial, technological, regulatory, political and sustainability risks, including climate, water, health and nutrition, food waste, packaging and safety. In addition, she has significant experience in business technology, digital transformations, cybersecurity and AI. She also has significant leadership experience in each of these areas, including strategy and commercial initiatives globally. Her current and past roles in leadership at large-scale international food and beverage companies provide her with a strong understanding of the food ingredient landscape, as well as the food value chain. Other Public Company Directorships (within the past 5 years) •Mid America Apartment Communities Inc. (2016 to 2023) |

  50. By Order of the Board of Directors

    | Director Since: 2021 Committees •Audit •Human Resources and Compensation (Chair) Qualifications •Financial •Global Business Expertise •Agriculture Industry •Food Ingredient •Manufacturing and Logistics | Kenneth Simril | Age: 60 Mr. Simril is the former President and Chief Executive Officer of Fleischmann's Ingredients, a position he held from 2006 to 2021. Prior to joining Fleischmann's, he was the Chief Financial Officer and Chief Operations Officer of Clipper Corporation, a manufacturer of both custom and semi-custom items for the food service industry. Before Clipper Corporation, Mr. Simril was the Chief Financial Officer of ClearPath Networks Inc. He has also served in various finance and engineering roles with Mobil Oil Corporation and Exxon Mobil Corporation. Mr. Simril is a former non-employee director of At Home Group, Inc. Mr. Simril serves as a director in the American Funds/Capital Group family managed by Capital Research and Management Company, including as a director of several equity funds, the insurance series funds, and the solutions offerings. He is on related committees including the audit and contracts committees of several such funds. He holds a B.S. in Petroleum Engineering from the University of Southern California and an MBA from Harvard Business School. Qualifications Mr. Simril brings to the Board significant financial and leadership expertise and experience working for large, complex multinational companies. In addition, he brings deep knowledge of the food and ingredients business, the energy sector, manufacturing, logistics, strategic and investment management experience. Mr. Simril is an audit committee financial expert. Other Public Company Directorships (within the past 5 years) •At Home Group, Inc. (2020 to 2021) | | Director Since: 2025 Committees •Enterprise Risk Management •Human Resources and Compensation Qualifications •Financial •Risk Management •Global Business Expertise •Business Technology/Cybersecurity •Manufacturing and Logistics | Markus Walt | Age: 48 Mr. Walt is Head of Business Development for Glencore plc, a major global producer and marketer of metals and energy commodities headquartered in Switzerland. He is also a member of Glencore’s Global Investment and Capital Allocation Committee. Mr. Walt began his career at Glencore in 1999 as an accountant specializing in metals and oil trading, working in Baar and London, where he gained extensive expertise in commodity trading. In 2002, he transitioned to Glencore’s asset team, playing an important role in due diligence activities and integration efforts as the company expanded its industrial production assets. His involvement in strategic M&A was instrumental in major transactions, including the Glencore IPO in 2011 and the acquisitions of Viterra (2012) and Xstrata (2013). Mr. Walt previously served as a non-executive director for Viterra from 2016 until the acquisition by Bunge in July 2025. Mr. Walt graduated from the University of Zurich with an MBA and is a CFA® Charter holder. Qualifications Mr. Walt brings to the Board extensive experience in mergers and acquisitions, strategic planning and value creation within the natural resources, agriculture, and trading industries. He has significant risk management experience, having established Glencore's risk management function with a focus on market and credit risk metrics. He also led the Glencore team in planning and executing the ownership diversification of Glencore’s agricultural division and has been representing Glencore on the Board of Viterra since 2016, when CPP Investments and Venus Investment Limited Partnership ("BCI") became shareholders. He brings to the Board extensive accounting, finance, strategy, compensation and remuneration expertise. Other Public Company Directorships (within the past 5 years) •None |

  51. By Order of the Board of Directors

    | Director Since: 2018 Committees •Audit (Chair) •Corporate Governance and Nominations •Human Resources and Compensation Qualifications •Financial •Risk Management •Agriculture Industry •Food Ingredient •Manufacturing and Logistics | Henry "Jay" Winship | Age: 58 Mr. Winship is the Founder and Managing Member of Pacific Point Capital, LLC and the Founder and Managing Member of Pacific Point Advisors, LLC. Prior to that, he was a Principal, Senior Managing Director and Member of the Investment Committee at Relational Investors, which he joined in 1996. He has over 25 years of experience as an institutional investor and in investment management, accounting and financial management. He also serves on the Board of Advisors of the Corporate Governance Institute at San Diego State University Fowler College of Business. He is a Certified Public Accountant and holds the professional designation of Chartered Financial Analyst. He holds a bachelor’s degree in finance from the University of Arizona and an MBA from the University of California, Los Angeles. Qualifications Mr. Winship brings to the Board expertise and experience as an institutional investor and investment manager, helping to grow shareholder value at a wide range of public companies. Mr. Winship has significant experience in the areas of finance, capital allocation and risk management, and provides our Board with valuable perspectives on a range of agricultural and food ingredient industry topics. Mr. Winship is an audit committee financial expert and has extensive corporate governance expertise. Other Public Company Directorships (within the past 5 years) •C.H. Robinson Worldwide, Inc. (2022 to 2025) •CoreLogic, Inc. (2020 to 2021) | | Director Since: 2018 Board Chair Committees •Corporate Governance and Nominations (Chair) Qualifications •Financial •Risk Management •Global Business Expertise •Agriculture Industry •Manufacturing and Logistics | Mark Zenuk | Age: 59 Mr. Zenuk has served as Managing Partner of Tillridge Global Agribusiness Partners, an agribusiness private equity firm, since 2016. Prior to Tillridge, he was a Managing Director at NGP Energy Capital Management where he led the agribusiness investment platform from 2010 to 2016. Before joining NGP Energy Capital Management, he served in many domestic and international executive leadership roles with Archer Daniels Midland Company ("ADM"), having most recently served as President of ADM’s Global Oilseed business unit. Before joining ADM in 1999, he served as General Manager of the Commodity Marketing Group for the Saskatchewan Wheat Pool and Marketing Manager for the Canadian Wheat Board. He holds a B.S. in Agricultural Economics from the University of Saskatchewan. Mr. Zenuk currently serves as Bunge’s Board Chair. Qualifications Mr. Zenuk brings to the Board a deep understanding of mergers and acquisitions, business restructuring, operations and enterprise risk management from his experience running private equity funds and leadership roles in global operations at large agribusiness firms. He has lived and worked in three countries covering all international agribusiness food, feed and industrial markets. Mr. Zenuk is committed to strategic growth and increasing shareholder value. Other Public Company Directorships (within the past 5 years) •None |

  52. By Order of the Board of Directors

    | ☑ | OUR BOARD RECOMMENDS THAT YOU VOTE FOR THE ELECTION OF EACH OF THE NOMINEES FOR DIRECTOR |

  53. By Order of the Board of Directors

    | PROPOSAL 6 — REELECTION OF THE CHAIR OF THE BOARD |

  54. By Order of the Board of Directors

    Pursuant to the Swiss Code and our Articles of Association, the authority to elect the Chair of the Board is vested with the general meeting of shareholders. The term of office of the Chair of the Board is the same as the other directors’ terms and extends until completion of the next annual general meeting. The Chair elected at the 2026 Annual General Meeting will have the powers and duties described in our Articles of Association and Organizational Regulations. Upon the recommendation of the Corporate Governance and Nominations Committee, the Board nominates Mark Zenuk for reelection by the shareholders as the Chair of the Board. In addition, Mr. Zenuk has been nominated by the Board to serve as Chair of the Corporate Governance and Nominations Committee following the 2026 Annual General Meeting. Mr. Zenuk has served on the Board of Bunge’s ultimate holding company since 2018, as Chair of the Corporate Governance and Nominations Committee since May 2025, Chair of the Enterprise Risk Management Committee from 2018 to July 2025, and Board Chair since 2023. Mr. Zenuk’s biographical information may be found under Proposal 5.

  55. By Order of the Board of Directors

    | ☑ | OUR BOARD RECOMMENDS THAT YOU VOTE FOR THE REELECTION OF MARK ZENUK AS CHAIR OF THE BOARD OF DIRECTORS |

  56. By Order of the Board of Directors

    | PROPOSAL 7 — REELECTION OF FOUR MEMBERS OF THE HUMAN RESOURCES AND COMPENSATION COMMITTEE |

  57. By Order of the Board of Directors

    Pursuant to the Swiss Code and our Articles of Association, the authority to elect the members of the Human Resources and Compensation Committee of the Board is vested with the annual general meeting of shareholders. The term of office of the members of the Human Resources and Compensation Committee is the same as the other directors’ term and extends until completion of the next annual general meeting. Upon the recommendation of the Corporate Governance and Nominations Committee, the Board has nominated the following directors for election by the shareholders at the 2026 Annual General Meeting as members of the Human Resources and Compensation Committee. •Monica McGurk •Kenneth Simril •Markus Walt •Henry "Jay" Winship Biographical information regarding the nominees may be found under Proposal 5.

  58. By Order of the Board of Directors

    | ☑ | OUR BOARD RECOMMENDS THAT YOU VOTE FOR THE REELECTION OF FOUR MEMBERS OF THE HUMAN RESOURCES AND COMPENSATION COMMITTEE |

  59. By Order of the Board of Directors

    | CORPORATE GOVERNANCE |

  60. By Order of the Board of Directors

    The following sections provide an overview of our corporate governance policies and practices, including with respect to shareholder outreach, Board structures, tenure and refreshment, independence of directors, risk oversight and key aspects of our Board leadership, structures and committee operations. The Board regularly reviews our policies and processes in the context of current corporate governance trends, regulatory changes and recognized best practices. Board and Corporate Governance Developments Viterra Transaction/Shareholder Agreements. We entered into a Business Combination Agreement (“BCA”) with Viterra and its Sellers—including certain affiliates of Glencore, CPP Investments and BCI—to acquire Viterra in a stock‑and‑cash transaction, which was approved by shareholders at an extraordinary general meeting held on October 5, 2023 (the "Viterra Transaction"). On July 2, 2025, Bunge successfully closed the Viterra Transaction, marking a major milestone for the Company’s strategic growth and global operational footprint. At closing, Bunge, Glencore and CPP Investments executed the previously negotiated Shareholder Agreements (collectively, the “Shareholder Agreements”), under which Glencore and CPP Investments each have the right to designate two individuals for nomination to the Board for so long as they each continue to own at least 10% of Bunge’s total issued and outstanding shares. Pursuant to these agreements, Ms. Jensen and Mr. Isman (nominated by CPP Investments), and Messrs. Mahoney and Walt (nominated by Glencore), were elected by shareholders at the 2025 Annual General Meeting and joined the Board upon the closing of the Viterra Transaction. Following the completion of the Viterra Transaction in 2025, integration efforts are well underway, including alignment of governance, sustainability, financial reporting, internal controls, risk management and operational structures. The Board continues to oversee these efforts, which we believe are progressing ahead of schedule. We have already realized significant combination synergies by addressing duplication across legacy organizations. We believe the combination positions Bunge as an even stronger, more resilient, and more diversified agribusiness solutions company, financially, operationally, and strategically. The addition of the four directors nominated under the Shareholder Agreements further strengthens the Board’s expertise in global agriculture, commodities, supply chains, logistics, and risk management, complementing our ability to drive long‑term value for Bunge shareholders. Within our proven end-to-end value chain operating model, our teams are removing complexity and increasing connectivity across our organization. This alignment is already delivering results as we unlock synergies in origination, merchandising, processing, and distribution; optimize flows between origin and destination; and capture margin through improved logistics and better coordination. Director Onboarding In 2025, Bunge onboarded 5 new directors through a robust, multi‑phase orientation program designed and overseen by the Corporate Governance and Nominations Committee. The onboarding framework ensures that each new director quickly gains a strong understanding of Bunge’s governance model, committee structure, strategic priorities, risk management philosophy and programs, operations, and footprint. Our onboarding program reflects governance best practices and is deliberately sequenced across several weeks and months to allow new directors to integrate thoughtfully and at the right pace. Shareholder Engagement Shareholder engagement is a key priority of our Board and management. As a result, the Board has worked with management over the years to develop a robust year-round shareholder outreach program with our investors. Similar to previous years, we solicited engagement with institutional investors representing approximately 40% to 50% of our issued and outstanding shares to offer the opportunity to discuss current and emerging issues that matter most to them, including our performance and strategy, governance matters, executive compensation, sustainability, climate, human capital management and other matters. These meetings included a combination of members of our management team, investor relations, human resources, executive compensation, sustainability and legal, as well as our independent Board chair. Feedback from these discussions is relayed to the Board and is a key element in the development of our governance, compensation and sustainability policies, as well as the ongoing evaluation of our business strategy and performance. For example, as a result of feedback received and collaboration with our shareholders in recent years we have: •taken significant action to refresh our Board and the leadership and composition of our Board committees; •made meaningful changes to our executive compensation program; •enhanced our proxy disclosures with respect to the composition, skill sets and backgrounds of our Board; •enhanced our sustainability policies and programs, particularly with respect to addressing deforestation risks in our supply chain, climate-related risks and water sustainability; •updated our Corporate Governance Principles to enhance our Board Membership Criteria, in compliance with Swiss law, and our director succession and refreshment process; •updated our committee charters to clarify the roles and responsibilities with respect to sustainability, technology and governance matters; •enhanced our sustainability, risk, compensation and governance disclosures to align them to the relevant elements of the reporting frameworks, including those developed by the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD); and •implemented full declassification of our Board. The Board will continue to seek investor input in furtherance of its commitment to enhancing our governance practices and building long-term shareholder value. Board Structure and Size Following the closing of the Viterra Transaction on July 2, 2025, our Board consists of 12 directors. All directors are elected annually to one‑year terms and serve until the next annual general meeting of shareholders. This Board size reflects the addition of four directors designated pursuant to the Shareholder Agreements with Glencore and CPP Investments, each of whom joined the Board upon closing of the Viterra Transaction. Director Selection and Qualifications Our Board maintains a robust process whereby the members focus on identifying, considering and evaluating potential Board candidates. As provided in its charter, our Corporate Governance and Nominations Committee leads this process by considering prospective candidates at its meetings. In identifying appropriate candidates, with support from an independent search firm as deemed appropriate, the committee conducts a thoughtful evaluation focused on recommending candidates, pursuant to the Corporate Governance Principles, that (1) complement the current members of the Board and proposed nominees to further the objective of having a Board that guides the long-term strategy and ongoing business operations of the Company, and (2) reflects a range of backgrounds and experiences to effectively perform the functions of the Board and its committees. The following provides an overview of our Board refreshment process.

  61. By Order of the Board of Directors

    | Corporate Governance and Nominations Committee Oversight | | | | | Identification of Candidates | Assessment and Interviews | Nomination and Election | Onboarding | | The Corporate Governance and Nominations Committee reviews candidates identified by an independent search firm, members of the Board or management, and shareholders or other persons, taking into account the Corporate Governance Principles. | The Corporate Governance and Nominations Committee seeks input from other Board members and senior management to evaluate director nominees and interviews appropriate candidates to confirm their qualifications, skills, interest and availability for Board service. | Upon recommendation from the Corporate Governance and Nominations Committee, the Board determines whether to nominate a director candidate and optimal committee placement. All director nominations are subject to shareholder approval. | We conduct a comprehensive onboarding process for new directors, including meetings with other directors and management, a board mentor, site visits and a resource library to provide an understanding of our business strategy, opportunities and challenges. |

  62. By Order of the Board of Directors

    Director Reelections: Additionally, the Corporate Governance and Nominations Committee annually reviews the tenure, performance, skills and contributions of existing Board members to the extent they are candidates for reelection. Directors eligible for reelection abstain from Board discussions regarding their nomination. In determining whether to recommend a director for reelection, the Committee also considers the director’s participation in and contributions to the activities of the Board, the results of the most recent Board evaluation and meeting attendance. The Board does not believe that directors should expect to be re-nominated annually. Membership on other Boards: Under the Corporate Governance Principles, directors must inform the Chair of the Board and the Chair of the Corporate Governance and Nominations Committee in advance of accepting an invitation to serve on another public company board. In addition, no director may sit on the board or beneficially own more than 1% of the outstanding equity securities (other than through mutual funds or similar non-discretionary, undirected arrangements), of any of our competitors in our principal lines of business. Board Membership Criteria: For all directors, we require an independent mindset, high personal and professional ethics, integrity, sound business judgment, the ability and willingness to commit sufficient time to the Board and to promoting the long-term interests of the Company's shareholders. Our Board considers many factors in evaluating the suitability of individual director candidates, including, but not limited to: a general understanding of global business, finance and other disciplines relevant to the success of a large, publicly traded company; understanding of our business, technology, applications and education, professional background and personal accomplishments. The Board is committed to selecting the best candidates, and is open to candidates of all genders, races and ethnicities, in full compliance with Swiss law. Independent Search Firm: A professional search firm assisted the Corporate Governance and Nominations Committee in connection with its recommendation to nominate Ms. Jojo to the Board for approval by shareholders at the Annual General Meeting. When using a professional search firm, the Corporate Governance and Nominations Committee directs the firm to include a robust slate of qualified candidates based on our Corporate Governance Principles. After consulting with the Corporate Governance and Nominations Committee, the firm further screens and interviews candidates to assess their qualifications, interest and any potential conflicts of interest, and provides its results to the Committee, which uses its independent judgment to determine whether to recommend to the Board a candidate for nomination. Board Succession and Tenure Director Succession: The Board actively reviews and refreshes its membership. In furtherance of this objective, the Corporate Governance and Nominations Committee assists the Board in developing succession planning guided by the long-term strategy and ongoing business operations of the Company. As part of succession planning, the Corporate Governance and Nominations Committee annually, and on an as needed basis, reviews the composition of the Board against the skills criteria applicable to potential candidates for nomination to the Board, as well as existing directors, and makes director nomination recommendations to the Board. Director Tenure: Absent exceptional circumstances, no director who has reached the age of 72 can be nominated for reelection to the Board; however, the Board does not impose director tenure limits as the Board believes that imposing limits on director tenure could arbitrarily deprive it of the valuable contributions of its most experienced members. Accordingly, Board tenure is one of the factors considered by the Corporate Governance and Nominations Committee in making director nomination recommendations to the Board. Additionally, each director must be re-nominated by the Board on an annual basis, which provides the Board with the opportunity to consider the optimal mix of characteristics, skills, qualifications and experience in the evaluation of the Board members each year. Board Refreshment: Over the last eight years, 13 directors have either left the Board or decided not to stand for reelection. As a result, the average tenure of our director nominees is three years, with the longest tenured nominee having served for twelve years. This significant Board refreshment process has resulted in an increase in the depth, qualifications and females1 represented on the Board. Shareholder Recommendations and Director Nominations The Corporate Governance and Nominations Committee will evaluate candidates recommended by shareholders in the same manner as candidates recommended by the Board. In accordance with our Articles of Association, shareholders who wish to propose a director nominee must give written notice to our Corporate Secretary at our principal executive offices at Route de Florissant 13, 1206 Geneva, Switzerland, at least 120, but no more than 150 calendar days, prior to the first anniversary of the date (as stated in the Company's proxy materials established under applicable U.S. securities laws) on which the Company's definitive proxy statement for the prior year's Annual General Meeting was first released to the Company's shareholders. If the Annual General Meeting is not scheduled to be held within a period beginning 30 days before such anniversary date and ending 30 days after such anniversary date, written notice must be given by the later of the close of business on the date that is 180 days prior to such other meeting date or the tenth day following the date that the Company first makes public disclosure regarding such other meeting date. In each case, the notice must include, as to each person the shareholder proposes to nominate for election or reelection as director: (i) all information relating to that person required to be disclosed in solicitations of proxies for election of directors pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended, (the "Exchange Act"), which includes such person's written consent to be named in the proxy statement as a nominee and to serve as a director if elected, together with evidence satisfactory to us that such nominee has no interests that would limit such nominee's ability to fulfill their duties of office and (ii) all information and documentation required pursuant to our Articles of Association, including the information to be included in the Access Notice and the Nominee Information (as defined in our Articles of Association). We may require any nominee to furnish such other information as reasonably may be required by us to determine the eligibility of such nominee to serve as a director. A shareholder may propose a director nominee to be considered by our shareholders at the annual general meeting provided that the notice provisions in our Articles of Association as set forth above are met, even if such director nominee is not nominated by the Corporate Governance and Nominations Committee. A shareholder may also recommend director candidates for consideration by the Corporate Governance and Nominations Committee at any time. Any such recommendations should include the nominee's name and qualifications for Board membership. Board Independence

  63. By Order of the Board of Directors

    | With respect to the 2026 director nominees, the Board has determined that each non-employee director who served in 2025 was, and each current non-employee director nominee is, independent in accordance with the New York Stock Exchange ("NYSE") Corporate Governance Standards and that no major relationship exists with Bunge other than as a director. |

  64. By Order of the Board of Directors

    Regulatory Requirements: In accordance with the listing standards of the NYSE, to be considered independent, a director must have no material relationship with Bunge directly or as a partner, shareholder or officer of an organization that has a relationship with Bunge. The NYSE has also established enhanced independence standards applicable to members of our Audit Committee and our Human Resources and Compensation Committee. The Board has concluded that each member of our Audit Committee and our Human Resources and Compensation Committee satisfied the applicable enhanced independence standards of the NYSE. Independence Governance Framework: In accordance with the Corporate Governance Principles and our Policy for the Review and Approval of Related Person Transactions, the Corporate Governance and Nominations Committee assists the Board annually to review commercial and other relationships between directors and members of their immediate 1 The Swiss Code of Obligations requires at least 30% representation of each gender on the Board starting in 2026. families and Bunge to make a determination regarding the independence of each director or director nominee. In addition, the Board has adopted categorical standards of director independence which are set forth in Annex A to our Corporate Governance Principles. The Corporate Governance Principles are available through the "Investor Center — Governance" section of our website, bunge.com. Independence Determination: In making its independence determinations, the Board considers relevant facts and circumstances, including that in the normal course of business, purchase and sale and other commercial and charitable transactions or relationships may occur between Bunge and other companies or organizations with which some of our directors or their immediate family members are affiliated. The Board monitors the independence of its members on an ongoing basis to assist it in making determinations of director independence. For 2025, the Board considered the following transactions and relationships and determined them to be immaterial: •Each of Mses. Aleixo Lustosa, Browner and Jojo and Messrs. Heckman, Mahoney, Simril and Winship serve as a non-employee director, trustee or advisory board member of another company that Bunge did business within the ordinary course; •Each of Mses. Browner and Jensen, and Mr. Walt serve as executives, partners or officers of another company that Bunge did business within the ordinary course; the Board has reviewed these arrangements and found them to be arm's length transactions and determined that each of these directors is independent; and •Mr. Zenuk serves as Managing Partner of Tillridge Global Agribusiness Partners ("Tillridge"), a private equity firm. Bunge conducts business with certain portfolio companies of Tillridge. The highest amount of annual purchase or sale transactions between Bunge and any of the portfolio companies in 2025 was approximately $14.5 million. Mr. Zenuk does not serve as an officer or employee of any of these portfolio companies and has no involvement in Bunge's dealings with these companies. Additionally, these commercial relationships predated Mr. Zenuk joining our Board. The Board concluded that these transactions were arm's length and determined that Mr. Zenuk is independent. Executive Sessions of Our Board In accordance with our Corporate Governance Principles, our non‑management directors meet in regularly scheduled executive sessions without members of management present. These sessions occur at each meeting of the Board and at other times as the directors deem appropriate. Our non-employee, independent Board Chair presides over these sessions. Executive sessions provide the Board with dedicated time to discuss matters such as Board effectiveness, management performance, risk oversight, succession planning and any other topics the directors consider appropriate. Certain Relationships and Related Transactions We are committed to identifying, reviewing, and managing potential conflicts of interest to protect the interests of our shareholders. Our related person transaction review process is designed to ensure transparency, fairness, and alignment with governance standards. Various policies and procedures, including our Code of Conduct, Corporate Governance Principles, Conflict of Interest Policy, and annual questionnaires and/or certifications completed by our directors and executive officers, require disclosure of and/or otherwise identify transactions or relationships that may constitute conflicts of interest or may require disclosure under applicable SEC rules as "related person transactions". Our Corporate Governance and Nominations Committee has adopted the Policy for the Review and Approval of Related Person Transactions, which is a written policy for the review and approval of related person transactions. This policy is designed to operate in conjunction with and as a supplement to the provisions of our Code of Conduct. These transactions are also reviewed in the context of making annual independence determinations regarding directors. See "Board Independence" above for further information. Under the policy, our legal department will review all actual and proposed related person transactions presented to or identified by it and then submit any transaction in which a related person is reasonably likely to have a direct or indirect material interest to the Corporate Governance and Nominations Committee for review and approval or ratification. In determining whether to approve or ratify a related person transaction, the Corporate Governance and Nominations Committee will consider all the available and relevant facts and circumstances, including, but not limited to, (a) whether the transaction was the product of fair dealing, (b) the terms of the transaction and whether similar terms would have been obtained from an arm's length transaction with a third party and (c) the availability of other sources for comparable products or services. The policy also identifies certain types of transactions that our Board has identified as not involving a direct or indirect material interest and are, therefore, not considered related person transactions for purposes of the policy. For purposes of the policy, the terms "related person" and "transaction" have the meanings contained in Item 404 of Regulation S-K. There were no related person transactions in 2025. Board Leadership Structure Our Board does not have a requirement that the roles of CEO and Board Chair be either combined or separated. The Board believes this determination should be made based on the best interests of Bunge and its shareholders at any point in time based on the facts and circumstances then facing the Company. Demonstrating the Board's commitment to making these thoughtful and careful determinations, our Board has separated the Chair and CEO roles since 2013 and has had an independent, non-employee Board Chair since January 1, 2014. Mr. Zenuk currently serves as Board Chair, Chair of the Corporate Governance and Nominations Committee and ex officio member of each committee. The Board believes that its current leadership structure, led by an independent Board Chair and five fully independent committees, is in the best interests of the Company and its shareholders at this time and demonstrates its commitment to independent oversight, which is a critical aspect of effective governance. If, in the future, our CEO also serves as our Board Chair, our Corporate Governance Principles provide that our non-management directors would, on an annual basis, select an independent director to serve as the Board’s lead independent director. The specific responsibilities of a lead independent director are set forth in our Corporate Governance Principles.

  65. By Order of the Board of Directors

    Mr. Zenuk is expected to continue to serve as Chair of the Board following the Annual General Meeting. He has been a director since 2018 and is an independent director under NYSE standards. In addition to Mr. Zenuk’s expected continued role as Chair of the Board, his governance responsibilities include chairing the Corporate Governance and Nominations Committee that oversees the governance framework and processes, identifies individuals to serve as Board members, and provides oversight of Board effectiveness and independence. Board Meetings and Committees The Board normally has five regularly scheduled meetings per year, and committee meetings are normally held in conjunction with Board meetings. Additionally, the Board holds virtual meetings to receive updates on our business and as circumstances may require. Our Board met seven times in 2025. All directors serving on the Board as of December 31, 2025 attended over 98% of the combined Board and committee meetings on which they served during the last fiscal year. Our Organizational Regulations give our Board the authority to delegate its powers to committees appointed by the Board. We have five standing Board committees: 1.Audit Committee 2.Corporate Governance and Nominations Committee 3.Enterprise Risk Management Committee 4.Human Resources and Compensation Committee 5.Sustainability and Corporate Responsibility Committee Each of these committees is chaired by an independent director and composed entirely of independent directors. Each of the members of the Audit Committee and the Human Resources and Compensation Committee also meet the enhanced independence rules of the SEC and NYSE applicable to such committees. Pursuant to their charters, each of these committees is authorized and assured of appropriate funding to retain and consult with external advisors and counsel, as they deem appropriate, to assist in the performance of their duties. The committees are required to conduct meetings and take action in accordance with the directions of the Board, the provisions of our Organizational Regulations and the terms of their respective committee charters. Each of these committees has the power under its charter to sub-delegate the authority and duties designated in its charter to subcommittees or individual members of the committee as it deems appropriate, unless prohibited by law, regulation or any NYSE listing standard. Copies of these committee charters are available through the "Investor Center — Governance — Governance documents" section of our website, bunge.com. Please note that the information contained in or connected to our website is not intended to be part of this proxy statement. The tables that follow provide primary responsibilities and 2025 membership and meeting information for each Board committee as of December 31, 2025 (for the membership of each of the Board Committees that is expected following the Annual General Meeting, see "Committee Composition Following the 2026 Annual General Meeting" on page 12). See "Sustainability" on page 36 for a description of the role each Board committee serves with respect to the oversight of sustainability matters:

  66. By Order of the Board of Directors

    | Audit Committee |

  67. By Order of the Board of Directors

    | 2025 meetings | 9 | Primary Responsibilities: | | Members: Henry "Jay" Winship (Chair) Eliane Aleixo Lustosa de Andrade Adrian Isman Linda Jojo Kenneth Simril | •reviewing the quality and integrity of our financial statements and related disclosures; •ensuring compliance with legal and regulatory requirements; •reviewing the independent auditor's qualifications, independence, fees and performance; •reviewing the performance of our internal audit and control functions; and •overseeing cybersecurity and other IT risks. |

  68. By Order of the Board of Directors

    The Audit Committee meets separately with our independent auditor and also in quarterly executive sessions with members of management, including our chief audit executive and our chief compliance officer. Additionally, the Audit Committee regularly meets in executive sessions at which only the Audit Committee members are in attendance, without any members of our management present. No Audit Committee member may simultaneously serve on the audit committees of more than two other public companies without the prior approval of the Board. Messrs. Winship and Simril qualify as audit committee financial experts.

  69. Cybersecurity Governance

    | DIRECTOR COMPENSATION |

  70. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | Name | Fees Earned or Paid in Cash ($) | Stock Awards ($)(1)(2) | Total ($) | | Eliane Aleixo Lustosa de Andrade | $160,000 | $199,922 | $359,922 | | Sheila Bair(3) | $67,253 | $— | $67,253 | | Carol Browner | $170,000 | $199,922 | $369,922 | | Bernardo Hees(3) | $56,044 | $— | $56,044 | | Adrian Isman(4) | $79,565 | $173,661 | $253,226 | | Anne Jensen(4) | $74,592 | $173,661 | $248,253 | | Linda Jojo | $100,220 | $199,922 | $300,142 | | Michael Kobori(3) | $56,044 | $— | $56,044 | | Christopher Mahoney(4) | $84,538 | $173,661 | $258,199 | | Monica McGurk | $150,000 | $199,922 | $349,922 | | Kenneth Simril | $180,000 | $199,922 | $379,922 | | Markus Walt(4) | $74,592 | $173,661 | $248,253 | | Henry "Jay" Winship | $175,000 | $199,922 | $374,922 | | Mark Zenuk | $200,604 | $374,913 | $575,517 |

  71. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    (1)Each of the non-employee directors serving on the Board on the close of business on May 15, 2025, the date of Bunge's 2025 Annual General Meeting, received an annual grant of 2,510 restricted stock units. In addition, as part of Mr. Zenuk's compensation for serving as non-employee Chair, he was granted an additional 2,197 restricted stock units. Annual grants generally vest on the first anniversary of the date of grant, provided the director continues to serve on the Board on such date. The average of the high and low sale prices of our common shares on the NYSE was $79.65 on May 15, 2025. Additionally, each non-employee director that was appointed to the Board at the 2025 Annual General Meeting and joined the Board following the closing of the Viterra Transaction on July 2, 2025 received an annual grant of 2,164 restricted stock units. These restricted stock units will vest on May 15, 2026. The average of the high and low sale prices of our common shares on the NYSE was $80.25 on July 2, 2025. (2)The amounts shown reflect the full grant date fair value of the award for financial reporting purposes in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation - Stock Compensation (ASC Topic 718) (without any reduction for risk of forfeiture) as determined based on applying the assumptions used in Bunge's audited financial statements. See Note 24 to the audited consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, regarding assumptions underlying the valuation of equity awards. Other than the restricted stock units reported above and associated dividend equivalents, no director had any other stock awards outstanding as of December 31, 2025. The number of awards granted excludes dividend equivalents. The closing price of our registered shares on the NYSE on December 31, 2025 was $89.08. (3)Ms. Bair and Messrs. Hees and Kobori did not stand for reelection at the 2025 Annual General Meeting and were not eligible for a stock award. (4)Ms. Jensen and Messrs. Isman, Mahoney, and Walt were elected by shareholders at the 2025 Annual General Meeting and joined the Board following the closing of the Viterra Transaction on July 2, 2025.

  72. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | SHARE OWNERSHIP OF DIRECTORS, EXECUTIVE OFFICERS AND PRINCIPAL SHAREHOLDERS |

  73. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    The following table sets forth information with respect to persons or entities who are known to Bunge to beneficially own 5% or more of our registered shares, each member of the Board, Named Executive Officers and executive officers as a group as of March 19, 2026. All holders of our registered shares are entitled to one vote per share on all matters submitted to a vote of holders of registered shares, and the voting rights attached to registered shares held by our directors, executive officers or major shareholders do not differ from those that attach to registered shares held by any other holder. Under Rule 13d-3 of the Exchange Act, "beneficial ownership" includes shares for which the individual, directly or indirectly, has or shares voting or investment power, whether or not the shares are held for the individual's benefit. Under these rules, more than one person may be deemed the beneficial owner of the same securities and a person may be deemed to be a beneficial owner of securities as to which such person has no economic interest. Except as otherwise indicated in the footnotes below, each of the beneficial owners has, to the best of our knowledge, sole voting and investment power with respect to the indicated shares of our registered shares.

  74. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | | Amount and Nature of Beneficial Ownership(1)(2) | Percent of Class(3) | | Beneficial Owner | | | | Danelo, LTD (Glencore)(4) | 32,806,103 | 16.9% | | CPP Investment Board(5) | 26,244,732 | 13.5% | | The Vanguard Group(6) | 16,792,204 | 8.7% | | Capital World Investors(7) | 16,612,661 | 8.6% | | BlackRock, Inc.(8) | 14,152,788 | 7.3% | | Non-Employee Directors | | | | Eliane Aleixo Lustosa de Andrade | 6,558 | * | | Carol Browner | 29,599 | * | | Adrian Isman | 2,210 | * | | Anne Jensen | 2,210 | * | | Linda Jojo | 2,586 | * | | Christopher Mahoney | 7,210 | * | | Monica McGurk | 6,072 | * | | Kenneth Simril | 8,798 | * | | Markus Walt | 2,210 | * | | Henry "Jay" Winship | 33,457 | * | | Mark Zenuk | 28,399 | * | | Named Executive Officers | | | | Gregory Heckman | 1,670,094 | * | | John Neppl | 158,420 | * | | Julio Garros | 118,609 | * | | Christos Dimopoulos | 140,449 | * | | Joseph Podwika | 91,268 | * | | David Mattiske(9) | 153,875 | * | | All directors and executive officers as a group (17 persons)(10) | 2,320,206 | 0.6% |

  75. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    *Indicates beneficial ownership less than 1.0%. (1)The registered shares beneficially owned are reported on the basis of SEC regulations governing the determination of beneficial ownership of securities. Under SEC rules, the registered shares, which are subject to options, units or other securities that are exercisable or convertible into shares within 60 days of March 19, 2026, are deemed to be outstanding and beneficially owned by the person holding such options, units or other securities. Such underlying shares are deemed to be outstanding for the purpose of computing such person’s ownership percentage, but not deemed to be outstanding for the purpose of computing the percentage ownership of any other person. (2)Includes the following shares which non-employee directors and executive officers have a right to acquire through the vesting of restricted stock units or the exercise of stock options granted under our long-term incentive plans that have vested or will vest within 60 days of March 19, 2026: Ms. Aleixo Lustosa de Andrade - 2,586 shares; Ms. Browner - 2,586 shares; Mr. Isman - 2,210 shares; Ms. Jensen - 2,210 shares; Ms. Jojo - 2,586 shares; Mr. Mahoney - 2,210 shares; Ms. McGurk - 2,586 shares; Mr. Simril - 2,586 shares; Mr. Walt - 2,210 shares; Mr. Winship - 2,586 shares; Mr. Zenuk - 4,849 shares; Mr. Heckman – 935,000 shares; Mr. Neppl – 36,500 shares; Mr. Garros – 18,200 shares; Mr. Dimopoulos – 48,800 shares; and Mr. Podwika – 22,500 shares. (3)Applicable percentage ownership is based on 193,810,410 registered shares issued and outstanding as of March 19, 2026. (4)Based on the information filed with the SEC on Schedule 13D on July 2, 2025: Glencore plc, Glencore International AG and Danelo Limited (together "Danelo, LTD") reported beneficial ownership of 32,806,103 shares, and shared voting power and shared dispositive power as to 32,806,103 of the shares. The principal business address of Danelo, LTD is Baarermattstrasse 3, Baar, V8, CH-6340. (5)Based on the information filed with the SEC on Schedule 13D on July 2, 2025: Canada Pension Plan Investment Board, CPP Investment Board Private Holdings (5), Inc., CPP Investment Board Private Holdings (6), Inc. and CPPIB Monroe Canada, Inc., (together "CPP Investment Board") reported beneficial ownership of 26,244,732 shares, and shared voting power and shared dispositive power as to 26,244,732 of the shares. The principal business address of CPP Investment Board is One Queen Street East, Suite 2500, Toronto, Ontario, Z4, M5C 2W5. (6)Based on information filed with the SEC on Schedule 13G on September 30, 2025: The Vanguard Group reported beneficial ownership of 16,792,204 shares, shared voting power as to 824,709 of the shares, sole dispositive power as to 15,630,824 of the shares and shared dispositive power as to 1,161,380 of the shares. The principal business address of The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355. (7)Based on the information filed with the SEC on Schedule 13G/A on September 30, 2025: Capital World Investors reported beneficial ownership of 16,612,661 shares, sole voting power as to 16,474,937 of the shares and sole dispositive power as to 16,612,661 of the shares. The principal business address of Capital World Investors is 333 South Hope Street, 55th Floor, Los Angeles, CA 90071. (8)Based on information filed with the SEC on Schedule 13G on September 30, 2025: BlackRock, Inc. reported beneficial ownership of 14,152,788 shares, sole voting power as to 13,117,249 of the shares and sole dispositive power as to 14,152,788 of the shares. The principal business address of BlackRock, Inc. is 50 Hudson Yards, New York, NY 10001. (9)Mr. Mattiske ceased to be an executive officer of Bunge effective December 11, 2025. As a result, his shares are not included in the "all directors and executive officers as a group" line. (10)Includes all directors and persons who served as executive officers as of March 19, 2026.

  76. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | PROPOSAL 8 — ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION UNDER U.S. SECURITIES LAW REQUIREMENTS |

  77. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    Pursuant to the rules of the Securities and Exchange Commission, we are required to provide shareholders with a non-binding advisory vote to approve the compensation of our Named Executive Officers (NEOs) (the "say-on-pay" vote) as disclosed in the Compensation Discussion and Analysis ("CD&A"), accompanying compensation tables and related narrative disclosures on pages 46 through 73 of this proxy statement. The Board recognizes the importance of our shareholders' opportunity to cast an advisory say-on-pay vote as a means of expressing views regarding the compensation of our NEOs. In 2025, 84.6% of the shares voted on the say-on-pay proposal were voted "for" the proposal. At the 2023 Annual General Meeting, 97.5% of the shares voted supported the Board's recommendation to hold a "say-on-pay" vote every year. As a result, the Board determined that the Company will hold a "say-on-pay" vote once every year until the 2029 Annual General Meeting, which, in accordance with applicable law, is the next required vote on the frequency of future "say-on-pay" votes. Our compensation philosophy is to pay-for-performance, support our business goals, align the interests of management and our shareholders, and offer competitive compensation arrangements to attract, retain and motivate high-caliber executives. Our Human Resources and Compensation Committee regularly reviews our executive compensation program to ensure alignment with our business strategy and compensation philosophy. Additionally, our executive compensation program has been designed to appropriately balance risks and rewards and discourage excessive risk-taking by our executives. For the reasons highlighted above, and more fully discussed in the CD&A, the Board unanimously recommends that shareholders vote in favor of the following advisory resolution: "RESOLVED, that the shareholders approve the compensation of the NEOs as disclosed pursuant to Item 402 of Regulation S-K, including the CD&A, the accompanying compensation tables and related narrative disclosure in this Proxy Statement." You may vote "for" or "against" this proposal, or you may abstain from voting. Although the vote on this Proposal 9 is advisory and non-binding, the Human Resources and Compensation Committee and the Board will review the voting results on the proposal and will consider shareholder views in connection with our executive compensation program.

  78. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | ☑ | OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE FOR THE APPROVAL OF NAMED EXECUTIVE OFFICER COMPENSATION AS DISCLOSED IN THIS PROXY STATEMENT |

  79. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | COMPENSATION DISCUSSION AND ANALYSIS |

  80. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    This Compensation Discussion and Analysis ("CD&A") provides an overview of our executive compensation program and an analysis of the decisions made with respect to the compensation of our Named Executive Officers ("NEOs") in 2025. Named Executive Officers For 2025, our NEOs(1) were as follows:

  81. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | | | | | | | Gregory Heckman Chief Executive Officer | John Neppl Chief Financial Officer | Julio Garros Chief Operating Officer | Christos Dimopoulos EVP, Global Markets & Chief Sustainability Officer | Joseph Podwika Chief Legal Officer | | (1) David Mattiske, former Co-Chief Operating Officer, was also an NEO for 2025. Mr. Mattiske, previously the Chief Executive Officer of Viterra Limited, served as Co-Chief Operating Officer at Bunge from the closing of the Viterra Transaction until December 11, 2025 and terminated employment involuntarily on December 31, 2025. | | | | |

  82. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | COMMITMENT TO SHAREHOLDERS |

  83. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    Shareholder Engagement Strong governance, driven by best practice and feedback from shareholders. We annually submit our executive compensation program to a shareholder advisory say-on-pay vote. We value the opinions of our shareholders as expressed through this vote and other communications. Through our robust engagement outreach program, we receive valuable feedback on the issues that are most important to our shareholders, including our executive compensation program, governance, sustainability, director skills and qualifications, corporate responsibility and our business and strategic direction. Similar to previous years, our non-employee Board Chair and members of our senior management team engaged with institutional investors representing approximately 40-50% of our issued and outstanding shares annually. 2025 Say-on-Pay Vote At our 2025 Annual General Meeting, 84.6% of the votes cast on our annual say-on-pay vote were in favor of our executive compensation program, and the average say-on-pay vote result for the past three years was approximately 92.5% of votes cast. We attribute this favorable support to our continued engagement with shareholders, as well as the Human Resources and Compensation Committee's consideration of competitive market practices and its goal of linking executive pay and performance. Based on this favorable support in 2025 and in prior years, we continued to use the same key features of our compensation programs in 2025, and no changes were made as a direct result of the say-on-pay vote results.

  84. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | OVERVIEW |

  85. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    Pay and Performance Performance drives pay. The Human Resources and Compensation Committee actively monitors the relationship between pay and performance, and strives to maintain a strong relationship between the two.

  86. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | Bunge's executive compensation philosophy is built upon a strong foundation of linking pay with performance | Align the interests of executives with long-term interests of shareholders | The majority of each executive's pay opportunity is delivered in the form of equity-based long-term incentives with multi-year vesting | | | Drive business goals and strategies | Incentive plan targets are directly tied to strategic business goals and initiatives, and are based upon metrics that drive long-term value creation | | | Reward profitable growth and increased shareholder value | Performance metrics balance earnings and returns on investment and the pay mix delivers a majority of pay through equity, resulting in realized compensation in-line with the creation of long-term shareholder value |

  87. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    In 2025, we continued to have performance-based sustainability goals as a component of the annual incentive bonuses paid to our executive team and nearly 11,000 of our employees. The resulting payout is directly impacted by our attainment of these goals. In addition, we are committed to clarity of compensation disclosures and maintaining strong compensation governance practices to support the pay-for-performance principles of our executive compensation program. Our culture closely aligns the program with the interests of our shareholders.

  88. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    | WHAT WE DO | WHAT WE DON'T DO | | ü We Do award 77% of target total compensation for our CEO and 60% for other NEOs on average in long-term equity-based incentives, a majority of which are performance-based ü We Do use multiple performance metrics for short-term and long-term awards ü We Do conduct an annual compensation risk assessment for employee incentive plans ü We Do have robust share ownership guidelines for directors, executive officers and other senior leaders ü We Do have executive recoupment policies, including a clawback policy that is intended to comply with Dodd-Frank rules adopted by the SEC and the NYSE | O We Don't allow repricing of stock options or buy out underwater stock options without shareholder approval O We Don't have single trigger change of control provisions O We Don't have golden parachute excise tax gross ups O We Don't allow hedging or pledging of Company shares or holding Company shares in margin accounts O We Don't allow transactions by directors, officers and Company insiders in Company stock without pre-clearance O We Don't have excessive executive perquisites |

  89. Prohibitions Against Short Sales, Hedging, Margin Accounts and Pledging

    Pay Structure and Highlights Highly performance-leveraged and focused on long-term equity incentives. In furtherance of aligning our executive compensation program with shareholders' interests, it is our practice to deliver the majority of NEO compensation in the form of long-term incentives with a majority that are only earned upon achievement of pre-established financial goals. For 2025, long-term incentives consisted of a mix of 60% performance-based restricted stock units ("PBRSUs") and 40% time-based restricted stock units ("TBRSUs") for all NEOs. The Human Resources and Compensation Committee reviews this mix annually.

  90. Key Elements of 2025 Executive Compensation

    | Pay Element | Pay Philosophy | Components | Performance Link | | Base Salary | Varies based on role, skill level and individual contributions | Cash | Sustained Individual Performance | | Annual Incentive Plan ("AIP")(1) | Driven by achievement of the company and individual performance against strategic priorities | Cash | Bunge Financial Performance (Adj PBT(I)(2) +/- Scorecard Objectives Modifier) | | | | | Individual Performance / Strategic Goals | | Long-Term Incentive Plan ("LTIP") | Aligns interests of executives with shareholders and drives achievement of sustained long-term value creation | PBRSUs | 3-Year Cumulative EPS | | | | | 3-Year Average AROIC | | | | | 3-Year RTSR (Modifier) | | | | | Stock Price Appreciation | | | | TBRSUs | |

  91. Target Mix of Executive Compensation

    | | Base Salary | Annual Cash Incentive | Long-Term Equity Incentive | | CEO Target Total Compensation Mix(1) | 8% | 15% | 77% | | | | 92% Variable | |

  92. Target Mix of Executive Compensation

    | | Base Salary | Annual Cash Incentive | Long-Term Equity Incentive | | Other NEO Target Total Compensation Mix(1) | 19% | 21% | 60% | | | | 81% Variable | |

  93. Target Mix of Executive Compensation

    Role of the Human Resources and Compensation Committee Ensure strong governance and adherence to pay for performance principles. The Human Resources and Compensation Committee is composed entirely of non-employee directors who meet the applicable independence requirements and is responsible for the governance of our executive compensation program, including but not limited to designing, reviewing and overseeing administration of the program. Each year, the Human Resources and Compensation Committee reviews and approves all compensation decisions for the NEOs, except the CEO, and reviews and recommends all compensation decisions for the CEO to the Board of Directors for approval in accordance with the methodology described below. When making compensation decisions, the Human Resources and Compensation Committee analyzes data from the comparator groups described on page 50 of this proxy statement. In addition, the Human Resources and Compensation Committee also considers several factors that it deems important in setting target total direct compensation for each NEO, as well as when recommending target total direct compensation for the CEO to the Board for approval: •Individual responsibilities, experience and achievements of the NEO and potential contributions towards our performance; •Input and recommendations from the independent compensation consultant; •Recommendations from the CEO and CHRO (for officers other than themselves); and •Relationship between pay and performance against the peer group. The differences in target compensation levels among our NEOs are primarily attributable to the differences in the median range of compensation for similar positions in the comparator groups and the factors described above. Role of Executive Officers Assist in executing on our pay for performance strategy. The CEO assists the Human Resources and Compensation Committee in setting the strategic direction of our executive compensation program, evaluates the performance of the NEOs (excluding himself) and makes recommendations to the Human Resources and Compensation Committee regarding their compensation, in consultation with the CHRO. Although it gives significant weight to the CEO's recommendations, the Human Resources and Compensation Committee retains full discretion in making compensation decisions. The CEO is not present during the deliberations on his compensation. The CEO, CFO and the CHRO also participate in developing and recommending the performance criteria and measures for our NEOs under our annual and long-term incentive plans for consideration by the Human Resources and Compensation Committee. No other executive officers participated in the executive compensation process for 2025. Our human resources department, under the supervision of the CHRO, also supports the Human Resources and Compensation Committee in its work and implements our executive compensation program. Role of Independent Compensation Consultant Provide independent advice toward the fulfillment of the Human Resources and Compensation Committee's mission. Pursuant to its charter, the Human Resources and Compensation Committee is empowered to hire outside advisors as it deems appropriate to assist in the performance of its duties. The Human Resources and Compensation Committee has sole authority to retain or terminate any such advisors and to approve their fees. The Human Resources and Compensation Committee has retained Semler Brossy as its independent compensation consultant to provide information, analysis and objective advice regarding our executive compensation program. Management has no role in the Human Resources and Compensation Committee selecting Semler Brossy. The Human Resources and Compensation Committee periodically meets with Semler Brossy to review our executive compensation program and discuss compensation matters, including in executive session without management present. For 2025, Semler Brossy performed the following functions at the Human Resources and Compensation Committee's request: •Assisted the Human Resources and Compensation Committee in its review and assessment of the peer group for the purpose of providing competitive market information for the design of executive compensation programs; •Compared each element of the NEOs' target total direct compensation opportunity with the corresponding compensation elements for the comparator groups to assess competitiveness; •Prepared an analysis of pay and performance relative to the peer group to support the Human Resources and Compensation Committee's goal of aligning our executive compensation program with shareholders' interests; •Prepared the compensation risk assessment in relation to our executives; •Advised the Human Resources and Compensation Committee on competitive pay practices for non-employee director compensation; •Prepared presentations for the Human Resources and Compensation Committee on general U.S. trends and practices in executive compensation; •Supported the Human Resources and Compensation Committee in its review of this CD&A; and •Advised the Human Resources and Compensation Committee on the design of executive incentive programs and arrangements. The Human Resources and Compensation Committee reviews its relationship with Semler Brossy annually. The process includes a review of the quality of the services provided, the fee structure for the services, and the factors impacting Semler Brossy's independence under the rules of the SEC and the listing standards of the NYSE. In March 2026, the Human Resources and Compensation Committee concluded that no conflict of interest exists that would prevent Semler Brossy from independently advising the Human Resources and Compensation Committee. Competitive Market Positioning Opportunities to earn superior pay for superior performance. We use various methods to determine the elements of our executive compensation program and review current compensation practices and levels. Our executive compensation program strives to provide a mix of base salary, target annual cash incentive awards and target annual long-term incentive awards (referred to, in aggregate, as target total direct compensation) that is aligned with the program's principles and objectives and is competitive with compensation provided by a peer group of selected publicly traded companies. The Human Resources and Compensation Committee, in consultation with its independent compensation consultant, Semler Brossy, selects several peer companies having one or more of the following characteristics:

  94. Target Mix of Executive Compensation

    | Peer Group Composition | | 2025 Peer Group (n=18) | | Industry | Upstream •Ag. Machinery •Inputs/Materials •Multi-Line Ag. Downstream •Logistics •Oil & Gas •Food Distribution •Food Manufacturing | •Archer-Daniels-Midland Company •Caterpillar •CNH Industrial N.V. •Corteva, Inc. •Deere & Company •Dow Inc. •FedEx •Kraft Heinz •LyondellBasell •Marathon Petroleum •Mondelez •Nucor •Nutrien Ltd. •Phillips 66 •Sysco Corporation •Tyson Foods, Inc. •UPS •Valero Energy | | Revenue | •Revenue targeted between 0.2 to 1.5x Bunge •Preference for companies with more than 25% of revenue generated outside the United States | | | Enterprise Value | •Enterprise Value targeted between 0.5 to 3.0x Bunge | |

  95. Target Mix of Executive Compensation

    In early 2025, the peer group was reviewed and substantially revised based on the pending merger with Viterra. Bunge has few direct competitors, which is why, following the merger, we have adopted a value chain-based methodology to encompass a wider range of potential peers and adjust to evolving business dynamics over time. These peers, generally, represent companies that specialize in different aspects of Bunge's value chain (e.g., machinery, materials, logistics) from which Bunge may attract talent and, therefore, provide the best comparison for the purpose of determining appropriate compensation levels. Even with this new approach, the ratio of enterprise value relative to revenue in our commodities-based business regularly results in our placing in the top quartile in revenue and at approximately the lower quartile in enterprise value within our peer group. Positioning of the combined entity against the new peer group is similar to the pre-merger positioning.

  96. Bunge position (I) vs. 2025 Peer Group

    Bunge position (I) vs. 2025 Peer Group

  97. Bunge position (I) vs. 2025 Peer Group

    | | 0 | | 25 | 50 | 75 | | 100 | | Revenue(1) | | | | | | | | | | | | | | | 83rd Percentile | | | Enterprise Value(1) | | | | | | | | | | | 13th Percentile | | | | | |

  98. Bunge position (I) vs. 2025 Peer Group

    (1)Based on publicly available data for the peer group as of December 31, 2025. The Human Resources and Compensation Committee periodically reviews the composition of the peer group and, as appropriate, updates it to ensure continued relevance and to reflect mergers, acquisitions or other business-related changes that may occur. The following changes were made to the peer group for 2025: Removed: The Mosaic Company, Ingredion Incorporated, International Paper Company, PPG Industries, Inc., Alcoa Corporation, WestRock Company, General Mills, Inc., Kellanova, US Foods Holding Corp., and Conagra Brands, Inc. were removed as Bunge became outsized relative to these companies following the merger with Viterra. Added: Caterpillar, Inc., Deere & Company, CNH Industrial N.V., LyondellBasell Industries N.V., Nucor Corp., UPS, Inc., FedEx Corp., Phillips 66 Co., Marathon Petroleum Corp., Valero Energy Corp., Mondelez International, Inc., and Kraft Heinz Co. were added as these companies specialize in different aspects of our value chain and better align with our business size and financial criteria following the merger. These changes to the peer group will ensure we maintain an adequate number of peers to establish a robust data set and better balance the composition of revenue and enterprise value among the peers. In determining NEO compensation, the Human Resources and Compensation Committee reviews a market analysis prepared by Semler Brossy, which includes equally weighted peer group compensation data and general industry data provided by Willis Towers Watson. This data enables the Human Resources and Compensation Committee to compare the competitiveness of NEO compensation based on their individual responsibilities and scope against comparable positions within our peer group and a broader general industry group of public companies. We refer to the peer group and other data sources collectively as the "comparator groups." As an initial guideline, the Human Resources and Compensation Committee generally seeks to set target total direct compensation for the NEOs at levels that are competitive with the median of the comparator groups. Our executive compensation program retains the flexibility to set target total direct compensation above or below the median of the comparator groups in the Human Resources and Compensation Committee's reasonable discretion to recognize factors such as market conditions, job responsibilities, experience, skill sets and ongoing or potential contributions to Bunge. In addition, actual compensation earned in any annual period may be at, above, or below the median depending on the individual's and Bunge's performance for the year.

  99. Bunge position (I) vs. 2025 Peer Group

    | PRINCIPAL ELEMENTS OF OUR EXECUTIVE COMPENSATION PROGRAM |

  100. Bunge position (I) vs. 2025 Peer Group

    Base Salary Compensation for responsibilities, skill and experience. A portion of annual cash compensation is paid as base salary to provide NEOs with a competitive level of pay for the execution of their key responsibilities. Base salaries for the NEOs are reviewed on an annual basis, and in connection with a promotion, individual performance or other change in responsibilities. The Human Resources and Compensation Committee establishes base salaries for the NEOs based on several factors, including: •Evaluation of the executive's scope of responsibilities; •Experience, contributions, skill level and pay compared to comparable executives in the comparator groups; •Input and recommendations from its independent compensation consultant; and •Recommendations from the CEO, in consultation with the CHRO, for each NEO, other than the CEO. There is no set schedule for base salary increases. Salary increases are periodically provided based on competitive factors or in connection with an increase in responsibilities. Base salaries are generally targeted at approximately the median level for comparable executives in the comparator groups. The Human Resources and Compensation Committee set the base salaries of the NEOs in 2025 as follows:

  101. Bunge position (I) vs. 2025 Peer Group

    | Executive | Base Salary (as of 12/31/2024) | Base Salary (as of 12/31/2025) | Percentage Increase | | Gregory Heckman | $1,400,000 | $1,400,000 | —% | | John Neppl | $800,000 | $800,000 | —% | | Julio Garros(1) | $724,387 | $767,975 | 6% | | Christos Dimopoulos(2) | $886,200 | $886,200 | —% | | Joseph Podwika | $625,000 | $625,000 | —% | | David Mattiske(2) | N/A | $891,948 | N/A |

  102. Bunge position (I) vs. 2025 Peer Group

    (1)For 2025, Mr. Garros received a base salary increase associated with his increased responsibilities as Chief Operating Officer and to better align his base salary with comparable positions among the peers in the comparator group. Amounts shown have been converted from Brazilian reals to U.S. dollars at the exchange rate of 0.1807 U.S. dollars per Brazilian real as of December 31, 2025. (2)Amounts shown have been converted from Swiss francs to U.S. dollars at the exchange rate of 1.2660 U.S. dollars per Swiss franc as of December 31, 2025. The base salary earned by each NEO is set forth in the "Salary" column of the Summary Compensation Table on page 68 of this proxy statement. Annual Incentive Plan Drive achievement of short-term progress toward long-term value creation. The Human Resources and Compensation Committee provides certain NEOs an opportunity to earn cash incentive awards under our Annual Incentive Plan ("AIP"), an annual, performance-based incentive plan that is directly related to the achievement of overall Company financial and predetermined strategic measures, aligned with our long-term strategy and goals. This same plan is available to a broad group of employees. Target annual cash incentive award opportunities under the AIP are established by the Human Resources and Compensation Committee using analyses of comparable executives in the comparator groups and based on a percentage of each respective NEO's base salary. The Human Resources and Compensation Committee generally sets target annual cash incentive opportunities to be competitive with the median level for comparable executives in the comparator groups. The following target annual incentive awards were established for our NEOs in 2025:

  103. Bunge position (I) vs. 2025 Peer Group

    | Executive | 2025 Target Annual Incentive Percent of Base Salary | 2025 Target Annual Incentive Award Opportunity | | Gregory Heckman | 180% | $2,520,000 | | John Neppl | 125% | $1,000,000 | | Julio Garros(1) | 150% | $1,151,963 | | Christos Dimopoulos(2) | N/A | N/A | | Joseph Podwika | 75% | $468,750 | | David Mattiske(3) | 150% | $1,337,922 |

  104. Bunge position (I) vs. 2025 Peer Group

    (1)Amounts shown have been converted from Brazilian reals to U.S. dollars at the exchange rate of 0.1807 U.S. dollars per Brazilian real as of December 31, 2025. (2)Mr. Dimopoulos participates in the RMOI (as discussed below), therefore, is not eligible for the AIP. (3)Mr. Mattiske was paid an amount equal to 100% of his target annual incentive award as part of his severance calculation per the terms of the Executive Severance Plan. Amounts shown have been converted from Swiss francs to U.S. dollars at the exchange rate of 1.2660 U.S. dollars per Swiss franc as of December 31, 2025. For 2025, the target annual incentive award opportunity for the following NEOs increased as a result of a review of their target total direct compensation for comparable positions among the peers in the comparator group, which substantially changed as a result of the Viterra Transaction: Mr. Heckman from 170% to 180%, Mr. Neppl from 100% to 125%, and Mr. Garros from 100% to 150%. The actual annual incentive awards earned by each NEO may be above, at, or below the established target level based on Bunge's financial performance and the respective NEO's individual performance goals attained for the relevant year. In order to receive a partial incentive award under the AIP, a threshold level must be attained before a payout is made. Incentive opportunities are also subject to caps on the amounts that can be earned. For 2025, Messrs. Heckman, Neppl, Garros, Podwika, and Mattiske were eligible to receive a payout ranging from 0% to 240% of their target annual incentive award opportunity shown in the far-right column in the table above. In order to earn a maximum payout, both financial and individual performance must be achieved at maximum levels of 250% and 200% of target, respectively. For 2025, the Human Resources and Compensation Committee established the following performance weightings for NEOs under the AIP:

  105. Bunge position (I) vs. 2025 Peer Group

    | Executive | Financial Performance | Individual Performance | | | Adj PBT(I) +/- Modifiers | Strategic Objectives | | Gregory Heckman | 80% | 20% | | John Neppl | 80% | 20% | | Julio Garros | 80% | 20% | | Christos Dimopoulos(1) | N/A | N/A | | Joseph Podwika | 70% | 30% | | David Mattiske | 80% | 20% |

  106. Bunge position (I) vs. 2025 Peer Group

    (1) Mr. Dimopoulos participates in the RMOI (as discussed below), therefore, is not eligible for the AIP.

  107. Financial Performance

    | 4.1% Adj PBT(I) | +/- | 1.8% Modifier | Scorecard Objectives | | | | | Quality of earnings relative to internal and external benchmarks | | | | | Sustainability |

  108. Financial Performance

    | Adj PBT(I)x | Final Funding Rate | ÷ | Aggregate AIP Financial Performance Target | = | Payout of Financial Performance |

  109. Financial Performance

    | Performance Metric | Threshold (30% Payout) | Target (100% Payout) | Maximum (250% Payout) | Actual | | Implied Adj PBT(I)(1) | $349 | $1,164 | $2,910 | $1,789 | | | | Payout of Financial Performance | | 154% | | (1) Based on an Aggregate AIP Financial Performance Target of $57M | | | | |

  110. 2025 Annual Incentive Award Determinations

    2025 Annual Incentive Award Determinations The Human Resources and Compensation Committee reviews and approves the annual incentive awards based on audited results of the financial performance and the achievement of individual performance objectives, as described above. The Human Resources and Compensation Committee seeks to set rigorous, but achievable, goals at the beginning of the year and evaluates preliminary payouts at year-end to ensure appropriate alignment of pay and performance. The table below sets forth the actual annual incentive awards paid to each NEO for performance achieved in 2025:

  111. 2025 Annual Incentive Award Determinations

    | Executive | 2025 Calculated Award as a Percent of Target | 2025 Actual Award Total Value | | Gregory Heckman | 163% | $4,112,640 | | John Neppl | 153% | $1,532,000 | | Julio Garros(1) | 163% | $1,880,003 | | Christos Dimopoulos(2) | N/A | N/A | | Joseph Podwika | 138% | $645,938 | | David Mattiske(3) | 100% | $1,337,922 |

  112. 2025 Annual Incentive Award Determinations

    (1)Amounts shown have been converted from Brazilian reals to U.S. dollars at the exchange rate of 0.1807 U.S. dollars per Brazilian real as of December 31, 2025. (2)Mr. Dimopoulos participates in the RMOI (as discussed below), therefore, is not eligible for the AIP. (3)Mr. Mattiske was paid an amount equal to 100% of his target annual incentive award as part of his severance calculation. Amounts shown have been converted from Swiss francs to U.S. dollars at the exchange rate of 1.2660 U.S. dollars per Swiss franc as of December 31, 2025. The actual amount awarded to each NEO is also set forth in the "Non-Equity Incentive Plan Compensation" column of the Summary Compensation Table on page 68 of this proxy statement. Annual Risk Management & Optimization Incentive Awards Mr. Dimopoulos had responsibility for optimizing the financial contribution derived from managing the related physical and financial flows within our Agribusiness segment. This financial contribution results from optimizing the risk created from managing the timing differences of procuring from farmers when they are willing to sell and selling to customers when they are ready to buy. Accordingly, he participated in a separate performance-based annual cash incentive award opportunity in 2025—the annual Risk Management & Optimization Incentive ("RMOI") award.

  113. 2025 Annual Incentive Award Determinations

    | Executive | Financial Performance | Risk Management & Optimization | | | Adj PBT(I) +/- Modifiers | Risk Adjusted Profit | | Gregory Heckman(1) | N/A | N/A | | John Neppl(1) | N/A | N/A | | Julio Garros(1) | N/A | N/A | | Christos Dimopoulos | 50% | 50% | | Joseph Podwika(1) | N/A | N/A | | David Mattiske(1) | N/A | N/A |

  114. 2025 Annual Incentive Award Determinations

    (1)Messrs. Heckman, Neppl, Garros, Podwika, and Mattiske participate in the AIP and, therefore, are not eligible for the RMOI. A portion of this award opportunity reflects the role as executive leader in contributing to the overall success of the Company and is linked directly to the achievement of the same financial performance results as described for the AIP above: Adj PBT(I), modified by our achievement of scorecard objectives. The remainder of this award opportunity reflects the direct impact of Mr. Dimopoulos on the earnings from trading, merchandising and positioning to maximize the earnings at risk in our asset base. The performance metric used for the RMOI award is Risk Adjusted Profit, which we define as the aggregate contribution generated from optimizing the physical and financial flows of our Agribusiness value chains after applying working capital and risk capital charges to take into account the quality of earnings generated relative to the amount of capital utilized during the year. The award opportunity is intended to align the compensation we provide for Mr. Dimopoulos with the compensation provided to comparable executives in commodity-based environments in the comparator groups. The award is subject to a minimum level of performance that must be achieved before a payout under the award will occur. The award is also subject to a maximum for which the payout may not exceed. The following target RMOI award was established by the Human Resources and Compensation Committee in 2025:

  115. 2025 Annual Incentive Award Determinations

    | Executive | 2025 Target RMOI Percent of Base Salary | 2025 Target RMOI Award Opportunity | | Gregory Heckman(1) | N/A | N/A | | John Neppl(1) | N/A | N/A | | Julio Garros(1) | N/A | N/A | | Christos Dimopoulos(2) | 125% | $1,107,750 | | Joseph Podwika(1) | N/A | N/A | | David Mattiske(1) | N/A | N/A |

  116. 2025 Annual Incentive Award Determinations

    (1)Messrs. Heckman, Neppl, Garros, Podwika, and Mattiske participate in the AIP and, therefore, are not eligible for the RMOI. (2)Amounts shown have been converted from Swiss francs to U.S. dollars at the exchange rate of 1.2660 U.S. dollars per Swiss franc as of December 31, 2025. For 2025, target RMOI award opportunity for Mr. Dimopoulos did not change. The actual annual incentive award earned may be above, at, or below the established target level based on Bunge's financial performance and the RMOI performance attained for the relevant year. Incentive opportunities are also subject to caps on the amounts that can be earned. For 2025, Mr. Dimopoulos was eligible to receive a payout ranging from 0% to 250% of his target RMOI award opportunity shown in the far-right column in the table above.

  117. 2025 RMOI Award Determinations

    | | Payout for 2025 Actual RMOI | | Payout Mix for 2025 Actual RMOI | | | Executive | Percent of Target | Total Value | Paid | Deferred | | Gregory Heckman(1) | N/A | N/A | N/A | N/A | | John Neppl(1) | N/A | N/A | N/A | N/A | | Julio Garros(1) | N/A | N/A | N/A | N/A | | Christos Dimopoulos(2) | 200% | $2,209,961 | $1,531,464 | $678,497 | | Joseph Podwika(1) | N/A | N/A | N/A | N/A | | David Mattiske(1) | N/A | N/A | N/A | N/A |

  118. 2025 RMOI Award Determinations

    (1)Messrs. Heckman, Neppl, Garros, Podwika, and Mattiske participate in the AIP and, therefore, are not eligible for the RMOI. (2)Amounts shown have been converted from Swiss francs to U.S. dollars at the exchange rate of 1.2660 U.S. dollars per Swiss franc as of December 31, 2025. The actual amount awarded is also set forth in the "Non-Equity Incentive Plan Compensation" column of the Summary Compensation Table on page 68 of this proxy statement. Long-Term Incentive Plan Aligns majority of pay with shareholder interests. The long-term equity-based incentive element of our executive compensation program is designed to incentivize actions that will drive sustainable, long-term value creation by providing NEOs with a continuing stake in our long-term success and to serve as an important component of retention. We further emphasize equity ownership by senior executives through the share ownership guidelines described on page 65 of this proxy statement. Pursuant to the 2024 Long-Term Incentive Plan ("2024 LTIP"), the Human Resources and Compensation Committee grants long-term incentive awards to NEOs in the form of PBRSUs and TBRSUs that vest upon continued service over a specified period of time (and, with respect to PBRSUs, subject to achievement of specified performance goals). Grants are generally made in the first quarter of each year, when compensation decisions for the year are made and after the public release of our year-end audited financial results. In limited, special situations, long-term incentives may be granted at other times in the event of a new hire, promotion, for retention purposes or to recognize exceptional performance. The mix of long-term incentives for the 2025 annual grant cycle for the NEOs was 60% PBRSUs and 40% TBRSUs. The Human Resources and Compensation Committee targets the value of the long-term incentive awards granted to the NEOs to provide total compensation opportunities that approximate the median of comparable executives in the comparator groups. The Human Resources and Compensation Committee also considers the following factors in determining the type and amount of long-term incentive awards: •Feedback from shareholder engagement; •Input and recommendation from its independent compensation consultant; •Potential shareholder dilution; •Share overhang (defined as the number of shares available for grant, plus outstanding stock option and restricted stock unit awards); •Burn rate or run rate (defined as the number of shares granted divided by the number of registered shares issued and outstanding); and •Projected cost and accounting expense on our earnings. In 2025, the Human Resources and Compensation Committee granted the following long-term incentive award amounts to NEOs:

  119. 2025 RMOI Award Determinations

    | Executive | 2025 Total LTIP Target Value | | Gregory Heckman | $13,000,000 | | John Neppl | $3,250,000 | | Julio Garros | $3,500,000 | | Christos Dimopoulos | $2,000,000 | | Joseph Podwika | $1,750,000 | | David Mattiske(1) | $3,500,000 |

  120. 2025 RMOI Award Determinations

    (1) At the closing of the Viterra Transaction, Mr. Mattiske, previously the Chief Executive Officer of Viterra Limited, was appointed as Co-Chief Operating Officer at Bunge. The equity award value set forth above reflects his regular annual equity award granted on July 2, 2025. On such date, he also received a special, one-time award of TBRSUs, with a target grant date fair value of approximately $3,000,000. In addition, Mr. Mattiske's outstanding cash-based long-term incentive awards granted by Viterra were converted into an award of TBRSUs with a grant date fair value equal to approximately $7,600,000 with terms similar to those of the converted awards. Each of these additional awards is described in further detail below. In determining the number of units granted in 2025, the Human Resources and Compensation Committee used the average of the high and low prices of our registered shares on the date of grant to align the value of the grant with the number of shares granted on a specific date. The actual amount awarded to each NEO is also set forth in the "Stock Awards" column of the Summary Compensation Table on page 68 of this proxy statement.

  121. Performance-Based Restricted Stock Unit Awards

    Performance-Based Restricted Stock Unit Awards Reward achievement of long-term value drivers, EPS and AROIC, and stock price appreciation. PBRSUs are tied to our long-term performance to ensure that NEO pay is directly linked to the achievement of sustained long-term operating performance. Reflective of the desire to balance earnings growth and efficient use of capital, the Human Resources and Compensation Committee has chosen to measure performance in an equal mix of three-year cumulative EPS and three-year average AROIC for Bunge as a whole, with an RTSR modifier. Adjustments used for AROIC account for mark-to-market timing differences and adjust for readily marketable inventories. The Human Resources and Compensation Committee considers EPS and AROIC key drivers of shareholder value and fundamental to long-term value creation. On February 12, 2025, the Human Resources and Compensation Committee approved the grant of PBRSUs to the NEOs for the 2025-2027 performance period (other than Mr. Mattiske, whose grant was made on July 2, 2025). Payouts of the PBRSUs, if any, will generally be subject to the NEO's continued employment through the vesting date (generally, the third anniversary of the grant date) and will be based (i) 50% on our achievement of cumulative EPS targets and (ii) 50% on our achievement of average AROIC targets established by the Human Resources and Compensation Committee on the grant date. Once the achievement of the financial targets has been calculated, up to an additional 25% may be added or subtracted from the results depending on Bunge's three-year TSR performance relative to the S&P 500 Industrials comparator RTSR. In the event that the RTSR would result in a positive modifier, but Total Shareholder Return of Bunge is negative over the three-year period, the RTSR modifier would not be applied. In no event will the RTSR modifier result in an overall PBRSU achievement greater than the maximum payout attached to the award, for which the 2025 grant is 200% of the award target. Upon vesting, each PBRSU is settled with a Bunge registered share. In addition, dividend equivalents are paid in our registered shares on the date that PBRSUs are otherwise paid out, based on the number of shares vesting. However, in no event will dividend equivalents be paid on any shares in excess of the target award granted. In setting the 2025-2027 targets, the Human Resources and Compensation Committee considered multiple factors, including: •Investor expectations; •Peer and broader market historical performance; •Industry economic factors; •Our historical and potential performance; •Expectations related to mergers and acquisitions; •Long-range plans and capital investments; and •Typical distributions of payouts over time. The resulting EPS and AROIC targets are established at levels that are intended to incentivize achievement of our long-term strategic plans and the continuous improvement of returns above our cost of capital. Performance targets for the 2025-2027 cycle are not disclosed prior to the end of the performance period as the Human Resources and Compensation Committee believes that disclosure would cause competitive harm to the Company. As mentioned above, the Human Resources and Compensation Committee targeted to deliver 60% of the value of the 2025 long-term incentive award in PBRSUs. Information regarding the fair market value and number of PBRSUs that the NEOs may earn at the end of the 2025-2027 performance period, subject to satisfaction of the performance metrics described above, is shown in the Grants of Plan Based Awards Table on page 70 of this proxy statement. 2023-2025 PBRSU Award Determinations. Each year, following the end of a three-year PBRSU performance cycle, the Human Resources and Compensation Committee reviews and certifies the performance attained based on our reported audited financial statements, subject to the Human Resources and Compensation Committee's discretion to adjust such results for unusual, unanticipated or non-recurring items and events. In January 2026, the Human Resources and Compensation Committee reviewed and certified achievement of the performance metrics for the PBRSUs granted on March 15, 2023 for the 2023-2025 performance period. Fifty percent of the 2023-2025 awards vest based on three-year cumulative diluted EPS from continuing operations and 50% on three-year average AROIC. The RTSR modifier has the potential to add or subtract up to 25% from the results. The EPS and AROIC performance targets for 2025 were adjusted to take into account the impact of the Viterra Transaction, while maintaining the approach of the original targets. Adjustments included global accounting changes to AROIC definitions and dilution in the year of close. These adjustments were made pursuant to the authority provided by the Committee to make such adjustments to preserve the intention of the award where there are unusual events or circumstances. Based on the Human Resources and Compensation Committee's determination that performance was at the levels set forth in the table below, PBRSUs were paid out at 59% of awarded target for the 2023-2025 performance period:

  122. Performance-Based Restricted Stock Unit Awards

    | Performance Metric | Threshold (30%) | Target (100%) | Maximum (200%) | Actual(1) | Results | | EPS | $18.90 | $31.50 | $44.10 | $29.67 | 90% | | AROIC | 6.6% | 15.2% | 19.2% | 12.5% | 78% | | | Weighted average payout of performance metrics | | | | 84% | | Modifier(2) | Below 25%ile (-25%) | Between 25%ile and 75%ile | Above 75%ile (+25%) | Actual(1) | Results | | RTSR | 25%ile | Interpolated | 75%ile | 9%ile | -25% | | | Total payout with modifier | | | | 59% |

  123. Performance-Based Restricted Stock Unit Awards

    (1)Adjusted for the same gains and charges as the Annual Incentive Plan. (2)The modifier is additive in nature and results that fall between performance levels will be interpolated on a straight-line basis

  124. Time-Based Restricted Stock Unit Awards

    Time-Based Restricted Stock Unit Awards Reward stock price appreciation and continued service. For 2025, the Human Resources and Compensation Committee granted TBRSUs with 40% weighting for all NEOs to promote alignment with shareholder interests as the ultimate value received will be a function of stock price performance. TBRSUs also help us maintain competitive compensation levels and retain executive talent through a multi-year vesting schedule. TBRSUs generally vest in full on the third anniversary of the date of grant. On February 12, 2025, the Human Resources and Compensation Committee approved the grant of TBRSUs to the NEOs effective March 15, 2025 (other than Mr. Mattiske, whose grant was made on July 2, 2025). Information regarding the grant date fair value and the number of TBRSUs awarded to each NEO is set forth in the Grants of Plan Based Awards Table on page 70 of this proxy statement. In addition to his regular annual equity grant, in connection with his appointment as Co-Chief Operating Officer following the closing of the Viterra Transaction, Mr. Mattiske received (1) a special, one-time award of TBRSUs with a grant date fair value of approximately $3,000,000, which award was scheduled to vest in two equal installments on each of the first two anniversaries of the grant date and (2) his outstanding Viterra long-term incentive cash awards were converted to an equivalent award of TBRSUs with a grant date fair value of approximately $7,600,000, with a vesting period commensurate with the original Viterra award. Retirement and Executive Benefits Competitively address basic health, welfare and retirement income needs. We provide employees with a wide range of retirement, health and welfare, insurance, paid time off and other employee benefits similar to, and on the same basis as, our other salaried employees, which are designed to attract and retain employees critical to our long-term success and to reflect the competitive practices of the companies in the peer group. U.S.-based NEOs are eligible for retirement benefits under the following plans: (i) Bunge Retirement Savings Plan; (ii) Bunge Excess Contribution Plan; (iii) Bunge Supplemental Excess Contribution Plan; and (iv) Bunge Deferred Compensation Plan. Each non-U.S.-based NEO is eligible to participate in a statutory retirement plan that covers substantially all employees who are employed in the country where the NEO is based. Amounts contributed by Bunge to such plans are set forth in the "All Other Compensation" column of the Summary Compensation Table on page 68 of this proxy statement. Our executive compensation program also provides NEOs with limited perquisites and personal benefits for the primary purpose of allowing our executives to focus greater attention to important Company endeavors by helping them work more efficiently and minimizing distractions. All taxes payable on the value of these benefits are borne by the recipient of such benefits. The Human Resources and Compensation Committee, in consultation with Semler Brossy, periodically reviews the benefits provided to the NEOs to ensure competitiveness with market practices.

  125. Perquisites and Executive Benefits

    Perquisites and Executive Benefits It is the Human Resources and Compensation Committee's practice to limit special perquisites and executive benefits provided to the Company's executives. The Human Resources and Compensation Committee periodically reviews the perquisites provided to our executive officers under our executive compensation program. For 2025, we provided U.S.-based executive officers, including the NEOs, with corporate-sponsored financial wellness counseling. This offering is a valued planning benefit to help executives navigate complex financial planning. The benefit includes a personal advisor to deliver comprehensive financial guidance and help maximize the value of benefits and compensation provided to the executive by Bunge. Non-U.S. NEOs are provided with an automobile allowance in accordance with Company programs and local market practices. The Company provides relocation assistance and related tax assistance to eligible new and current employees to attract and retain qualified talent and facilitate transitions in job roles. The Company does not provide any gross-up payments to NEOs to cover the taxes due on perquisite related income, other than tax assistance (gross-up payments) on taxable relocation benefits. In 2025, the Human Resources and Compensation Committee approved a limited budget of $150,000 of incremental cost for non-business use of the company charter aircraft by the CEO, a general market practice among Bunge's peer group and the S&P 500 companies. Post-Employment and Change of Control Benefits Focus executives on shareholder interests during periods of uncertainty. Our executive compensation program is designed to provide for the payment of post-employment benefits under certain plans in the event of particular terminations of employment. Providing post-employment and change of control benefits assists us in attracting and retaining executive talent and reduces the personal uncertainty that executives are likely to feel when considering a corporate transaction. These arrangements also provide valuable retention incentives that encourage executives to complete such transactions, thus enhancing long-term shareholder value.

  126. Executive Severance Plan

    Executive Severance Plan Under our Executive Severance Plan, we have participation agreements with Messrs. Garros, Dimopoulos, Podwika and Mattiske with arrangements that provide post-employment benefits in the event that an executive’s employment is terminated by us or a successor without “cause” or by the executive for “good reason,” and, in the case of a change of control, with such termination occurring before the second anniversary of a “change of control” of the Company, as those terms are defined in the Executive Severance Plan. The Executive Severance Plan provides that, upon a qualifying termination, the executive would be entitled to a payment equal to (i) 12 months of the executive's base salary and (ii) an amount equal to the executive's annual target bonus for the year in which termination occurs. In addition, each executive would be entitled to a prorated AIP award for the year in which the executive's employment is terminated based on the financial and individual performance achieved for the performance period and reimbursement for the COBRA premiums for the executive (and the executive’s spouse and eligible dependents) for continued participation in the Company’s group health plan for up to 18 months. The Executive Severance Plan provides that, upon a qualifying termination during the change of control period, the executive would be entitled to a lump sum payment equal to (i) 24 months of the executive’s base salary in effect immediately prior to the termination date, and (ii) an amount equal to two times the executive’s annual target bonus for the year in which the termination occurs. In addition, each executive would be entitled to a prorated AIP award for the year in which the executive's employment is terminated based on the financial and individual performance achieved for the performance period and reimbursement for the COBRA premiums for the executive (and the executive’s spouse and eligible dependents) for continued participation in the Company’s group health plan for up to 18 months. The executive will be entitled to receive accelerated vesting of all outstanding equity awards, with any stock options remaining exercisable for the remainder of their full term, and with unvested performance-based equity awards deemed vested at the greater of (i) actual performance or (ii) target levels with respect to performance goals or other vesting criteria. As a condition to receiving the severance benefits, an executive must timely execute and deliver a general release of employment-related claims against the Company in substantially the form attached to the Executive Severance Plan. Executives are bound by a 24-month non-competition and non-solicitation covenants. The Executive Severance Plan does not provide for a tax gross-up. Amounts payable to Mr. Mattiske in connection with his involuntary termination without "cause" on December 31, 2025 were made pursuant to the Executive Severance Plan's provisions related to a qualifying termination during a change of control period as described above and quantified later in Potential Payments Upon Termination of Employment or Change of Control.

  127. Equity Acceleration Under the Long-Term Incentive Plans

    Equity Acceleration Under the Long-Term Incentive Plans Under the 2016 EIP, and for awards granted prior to 2025 under the 2024 LTIP, a participant's long-term equity-based incentive award will be subject to the following treatment upon a termination of employment (except as otherwise may be provided under an individual award agreement or employment agreement): •Generally, for all terminations of employment other than for Cause or voluntary resignation, all TBRSU and PBRSU awards vest pro rata through the date of termination (for PBRSUs, subject to satisfaction of applicable performance goals and a minimum one-year service period). •In the event of a change of control of the Company, outstanding long-term equity-based incentive awards will be subject to the terms and conditions of the Executive Severance Plan. There are no unvested stock options remaining under any of our long-term equity-based incentive plans.

  128. Executive Employment Agreements

    Executive Employment Agreements Consistent with Swiss corporate law requirements, Messrs. Heckman and Neppl are subject to an Executive Employment Agreement (the "Employment Agreement") with respect to their base salary, existing target annual bonus opportunity, eligibility to receive long-term equity-based incentive awards, and eligibility for employee and other fringe benefits. The Employment Agreements also provide for certain Notice Period Payments and Non-Compete Payments (as defined below) in the event of written notice by either the Company or the executive, as applicable, that the applicable executive’s employment with the Company will be terminated. The material terms of such payments are the following: •12 months’ advance written notice must be provided by either the Company or the executive to terminate his employment, unless the termination is by the Company for “cause” or by the executive without “good reason” (as such terms are defined in the Employment Agreements) (the “Notice Period”). •The parties will determine the extent, duration, and nature of the applicable executive’s active employment services to be provided during the Notice Period, and the time at which such active services cease will be the beginning of the “Garden Leave Period.” •Messrs. Heckman and Neppl will receive continued payments during the Notice Period (the “Notice Period Payments”) equal to the following: continued payments of (1) base salary, (2) an amount equal to (A) a pro-rata portion of the executive’s annual bonus under the AIP that he would have been entitled to receive for the then-applicable performance period in which the Garden Leave Period commences based on actual performance (with such pro-ration to be based on the length of the Notice Period prior to the Garden Leave Period) and (B) a pro-rata portion of the executive’s target annual bonus under the AIP (with such pro-ration to be based on the length of the Garden Leave Period), and (3) reimbursement for healthcare continuation premiums for the executive and his spouse and dependents (the “Healthcare Reimbursements”). •In addition to the equity acceleration described above, upon a termination without “cause” or for “good reason,” any equity awards held by Messrs. Heckman and Neppl that are subject to performance-based vesting will vest based on the actual performance level attained for the applicable performance period (but subject to pro-ration as set forth in the applicable award agreement or long-term incentive plan), and, for Mr. Heckman, any stock options held by him will remain exercisable for (a) 36 months following the expiration of the Notice Period if the Notice Period expires outside of a change of control period (or, if the remainder of their full term is less than 36 months, for the remainder of such full term), and (b) the remainder of their full term if the Notice Period expires during a change of control period. •Messrs. Heckman and Neppl will receive payments during the one year period following expiration of the Notice Period in exchange for their compliance with non-competition, non-solicitation, and other restrictive covenant obligations (the “Non-Compete Payments”) equal to the following: (1) one year of base salary, (2) the executive’s target annual bonus under the AIP and (3) up to 12 months of Healthcare Reimbursements. •Both the Non-Compete Payments and the Notice Period Payments are subject to offset and/or reduction in the event that Messrs. Heckman or Neppl materially breach any of their restrictive covenant obligations or earn compensation from new employment (and/or other activity) that exceeds a certain threshold amount set forth in the Employment Agreements. •Certain of the Notice Period Payments and Non-Compete Payments will be subject to the applicable executive’s execution and non-revocation of a release of claims in favor of the Company.

  129. Executive Employment Agreements

    | COMPENSATION GOVERNANCE |

  130. Executive Employment Agreements

    The Human Resources and Compensation Committee maintains and is committed to a policy of strong corporate governance. The principal governance elements of our executive compensation program are described in further detail below. Executive Compensation Recoupment Policy Mitigate unnecessary risk-taking that may have adverse impact on Bunge. The Board has adopted a recoupment policy ("clawback") with respect to executive compensation. The policy provides that, if the Board or an appropriate committee thereof determines that an executive officer or other senior executive has engaged in any fraud or misconduct that caused or was a significant contributing factor to having to restate all or a portion of its financial statement(s), the Board or committee shall take such actions as it deems appropriate to remedy the misconduct and prevent its recurrence. The actions that may be taken against a particular executive include: •Requiring reimbursement of any bonus or incentive compensation paid to the executive; •Causing the cancellation of any equity-based awards granted to the executive; and •Seeking reimbursement of any gains realized on the disposition or transfer of any equity-based awards, if and to the extent that, (i) the amount of compensation was calculated based upon the achievement of certain financial results that were subsequently reduced due to a restatement, (ii) the executive engaged in fraud or misconduct that caused or significantly contributed to the restatement and (iii) the amount of the compensation that would have been awarded to or received by the executive had the financial results been properly reported would have been lower than the amount actually awarded or received. Any clawback under this policy is in addition to any other remedies that may be available to Bunge under applicable law. Bunge also has an additional recoupment policy to comply with the final Dodd-Frank clawback rules adopted by the SEC and the NYSE (the “Dodd-Frank Policy”). Under the Dodd-Frank Policy, in the event that Bunge is required to prepare an accounting restatement due to its material noncompliance with any financial reporting requirement under U.S. securities law, Bunge (with limited exceptions) will recover compensation from each current or former executive officer who, during the three fiscal years preceding the date on which Bunge is required to file the accounting restatement, received compensation from incentive awards based on the erroneous financial data that exceeds the amount of incentive-based compensation the executive would have received based on the restatement. The Human Resources and Compensation Committee has sole discretion to determine how to seek recovery under the policy and may forgo recovery if it determines that it would be impracticable and either the cost of recovery would exceed the amount sought to be recovered, or that recovery would cause an otherwise tax-qualified retirement plan broadly available to employees to fail to meet applicable tax qualification requirements. A copy of the Dodd-Frank Policy is included as an exhibit in Bunge’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. Relocation assistance payments and tax assistance (gross-up) payments on such amounts are also subject to recoupment provisions under Bunge's Long-Term International Assignment Policy and applicable if an NEO does not complete the relocation process, resigns or is involuntarily terminated for cause within 24 months of the transfer or within 12 months of completing the assignment. Share Ownership Guidelines Ensure appropriate level of long-term wealth tied to shareholder returns. To further align the interests of senior management with our shareholders, the Board maintains share ownership guidelines that require executive officers to hold significant amounts of our registered shares. Executive officers are expected to meet minimum ownership guidelines by April 30 following the fifth anniversary of the date the executive is hired or appointed to a covered title, as applicable. The guideline applicable to senior executives is based on a multiple of base salary.

  131. CEO: 6x base salary | Other NEOs: 3x base salary | Other Senior Executives: 2x base salary

    CEO: 6x base salary | Other NEOs: 3x base salary | Other Senior Executives: 2x base salary The Human Resources and Compensation Committee reviews the progress of the NEOs toward meeting the ownership guidelines annually. In the event of financial hardship or other good cause, the Human Resources and Compensation Committee may approve exceptions to the share ownership guidelines as the Human Resources and Compensation Committee deems appropriate. For a description of the ownership guidelines applicable to our non-employee directors, see "Director Compensation" on page 40 of this proxy statement. The following count towards meeting the ownership guideline: (i) shares beneficially owned by the executive directly or indirectly and (ii) 50% of the value of unvested TBRSUs. Unvested and vested unexercised stock options do not count toward achievement of the guidelines, along with unearned PBRSUs. Executive officers, including the NEOs, are required to hold a minimum of 50% of the shares net of taxes acquired through long-term incentive plans (including stock options, PBRSUs and TBRSUs) until the guidelines are met. If the initial ownership period has lapsed, and the minimum ownership guideline is not met, executive officers are required to hold 100% of net shares acquired until the guideline is met. Compliance with the executive share ownership guidelines is reviewed annually. As of December 31, 2025, all NEOs have satisfied the share ownership guidelines. To further encourage a long-term commitment to our sustained performance, executive officers are prohibited from hedging, pledging or using their registered shares as collateral for margin loans. Tax Deductibility of Compensation Section 162(m) of the Internal Revenue Code (and the regulations promulgated thereunder) precludes a public corporation from taking an income tax deduction for compensation exceeding $1 million payable in any year to the corporation’s chief executive officer and other “covered employees,” as defined in Section 162(m). Although our executive compensation program has sought to maximize the tax deductibility of compensation payable to our executive officers to the extent permitted by law, the Human Resources and Compensation Committee continues to retain the flexibility and discretion to make compensation decisions that are driven by market competitiveness and based on the other factors discussed in the CD&A when necessary or appropriate (as determined by the Human Resources and Compensation Committee in its sole discretion) to enable Bunge to continue to retain, attract, reward and motivate its highly-qualified executives.

  132. CEO: 6x base salary | Other NEOs: 3x base salary | Other Senior Executives: 2x base salary

    | Name and Principal Position | Year | Salary ($) (1) | Bonus ($) | Stock Awards ($)(2)(3) | Option Awards ($)(2) | Non-Equity Incentive Plan Compensation ($)(4) | Change in Pension Value & Nonqualified Deferred Compensation Earnings ($)(5) | All Other Compensation Total ($)(6) | Total ($)(7) | | Gregory Heckman | 2025 | $1,400,000 | $— | $12,767,722 | $— | $4,112,640 | $— | $665,117 | $18,945,479 | | Chief Executive Officer | 2024 | $1,350,014 | $— | $10,779,356 | $— | $4,046,000 | $— | $636,978 | $16,812,348 | | | 2023 | $1,200,046 | $— | $10,964,403 | $— | $4,863,360 | $— | $560,061 | $17,587,870 | | John Neppl | 2025 | $800,007 | $— | $3,191,876 | $— | $1,532,000 | $— | $205,053 | $5,728,936 | | Chief Financial Officer | 2024 | $787,518 | $— | $2,939,782 | $— | $1,392,000 | $— | $206,152 | $5,325,452 | | | 2023 | $750,029 | $— | $2,585,876 | $— | $1,750,500 | $— | $203,213 | $5,289,618 | | Julio Garros | 2025 | $721,807 | $— | $3,437,389 | $— | $1,880,003(8) | $— | $1,857,584 | $7,896,783 | | Chief Operating Officer | 2024 | $699,281 | $— | $2,449,755 | $— | $1,125,810 | $— | $752,239 | $5,027,085 | | | 2023 | $746,925 | $— | $2,068,659 | $— | $1,735,572 | $— | $23,598 | $4,574,754 | | Christos Dimopoulos | 2025 | $886,200(9) | $— | $1,964,170 | $— | $2,209,961(9) | $— | $165,480(9) | $5,225,811 | | EVP, Global Markets & Chief Sustainability Officer | 2024 | $710,475 | $2,214 | $1,959,823 | $— | $2,058,700 | $— | $144,722 | $4,875,934 | | | 2023 | $831,810 | $— | $2,068,659 | $— | $2,589,008 | $— | $155,913 | $5,645,390 | | Joseph Podwika | 2025 | $625,000 | $— | $1,718,658 | $— | $645,938 | $— | $151,375 | $3,140,971 | | Chief Legal Officer | 2024 | $618,750 | $— | $1,714,809 | $— | $714,844 | $— | $136,823 | $3,185,226 | | | 2023 | $600,000 | $— | $1,551,546 | $— | $1,017,450 | $— | $131,975 | $3,300,971 | | David Mattiske | 2025 | $437,430(10) | $— | $14,437,944 | $— | $1,337,922(10) | $— | $476,345(10) | $16,689,641 | | Former Co-Chief Operating Officer | | | | | | | | | |

  133. CEO: 6x base salary | Other NEOs: 3x base salary | Other Senior Executives: 2x base salary

    | PAY RATIO DISCLOSURE |

  134. Median Employee to CEO Pay Ratio

    Median Employee to CEO Pay Ratio For 2025, we calculated annual total compensation for the median employee using the same methodology as for our NEOs as described in the 2025 Summary Compensation Table on page 68 of this proxy statement. The annual total compensation for Mr. Heckman, our CEO, was $18,945,479 (the same amount as reported under the 2025 Summary Compensation Table above) and the median annual total compensation of all of our employees (other than our CEO), was $75,124, adjusted for cost of living. For the cost-of-living adjustment, we used the World Bank's Purchasing Power Parity conversion factor for GDP. This adjustment takes into account the local cost of an equivalent basket of goods, which embeds the exchange rate and inflation into the comparison such that the basket of goods is priced the same in both countries. Based on this information, our CEO's annual total compensation is 252 times that of the median of the annual total compensation of all employees. In addition, the ratio of the annual total compensation of our CEO to the median of the annual total compensation of all employees without any cost-of-living adjustment is 499 times the median employee. This is based on the foreign exchange rate as of December 31, 2025.

  135. Median Employee to CEO Pay Ratio

    | PAY VERSUS PERFORMANCE DISCLOSURE |

  136. Median Employee to CEO Pay Ratio

    The pay versus performance information is provided pursuant to Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K. The following table sets forth information regarding the compensation per the Summary Compensation Table ("SCT") on page 68 of this proxy statement, the compensation actually paid ("CAP") to our principal executive officer ("PEO") and, on average, to our other NEOs ("non-PEO NEOs") during the specified years, as calculated in accordance with the Pay Versus Performance ("PvP") disclosure rule, and the Company's performance.

  137. Median Employee to CEO Pay Ratio

    | Year | Summary Compensation Table Total for PEO ($) | Compensation Actually Paid to PEO(1) ($) | Average Summary Compensation Table Total for Non-PEO NEOs(2) ($) | Average Compensation Actually Paid to Non-PEO NEOs(1)(2) ($) | Value of Initial Fixed $100 Investment Based On(3): | | Net Income ($M) | Adjusted EPS ($)(5) | | | | | | | Total Shareholder Return ($) | Industry Index Total Shareholder Return ($)(4) | | | | 2025 | $18,945,479 | $24,536,788 | $7,736,428 | $7,874,677 | $155 | $101 | $816 | $7.57 | | 2024 | $16,812,348 | $1,944,680 | $4,603,424 | $1,750,213 | $131 | $108 | $1,137 | $9.19 | | 2023 | $17,587,870 | $18,428,607 | $4,702,683 | $4,989,878 | $165 | $118 | $2,243 | $13.66 | | 2022 | $17,899,691 | $36,869,068 | $4,977,421 | $6,799,877 | $159 | $130 | $1,610 | $13.91 | | 2021 | $16,148,227 | $53,419,822 | $6,527,939 | $12,048,134 | $146 | $115 | $2,078 | $12.93 |

  138. Median Employee to CEO Pay Ratio

    (1)Compensation Actually Paid represents the Summary Compensation Table Total adjusted to (a) exclude any positive aggregate change in the actuarial present value of all defined benefit pension plan benefits for the applicable year and (b) include the fair value of current and prior year equity awards that are outstanding, vested or forfeited during the applicable year, instead of the grant date value of awards granted during the applicable year. The following tables show what amounts were deducted from, and added to, the Summary Compensation Table Total to calculate the PEO and Average Non-PEO NEO Compensation Actually Paid:

  139. Median Employee to CEO Pay Ratio

    | PEO SCT Total to CAP Reconciliation | | | | | | | | | | | | | Year | Summary Compensation Table Total Compensation | | Deductions | | | Additions | | | | | Compensation Actually Paid | | | | | Grant Date Fair Value of Stock and Option Awards(i) | Change in Pension Value & Nonqualified Deferred Compensation Earnings(ii) | | Fair Value at FYE of Stock and Option Awards(iii) | Change in Fair Value of Outstanding and Unvested Stock and Option Awards(iv) | Change in Fair Value of Vested Stock and Option Awards(v) | Fair Value of Vested Stock and Option Awards(vi) | | | | 2025 | $18,945,479 | - | $12,767,722 | $— | + | $15,961,635 | $2,883,988 | $(486,592) | $— | = | $24,536,788 | | 2024 | $16,812,348 | | $10,779,356 | $— | | $7,060,050 | $(10,136,579) | $(1,011,783) | $— | | $1,944,680 | | 2023 | $17,587,870 | | $10,964,403 | $— | | $11,184,037 | $2,885,552 | $(2,264,449) | $— | | $18,428,607 | | 2022 | $17,899,691 | | $11,480,361 | $— | | $15,386,996 | $5,751,424 | $9,311,318 | $— | | $36,869,068 | | 2021 | $16,148,227 | | $9,991,055 | $— | | $18,082,222 | $24,119,250 | $5,061,178 | $— | | $53,419,822 |

  140. Median Employee to CEO Pay Ratio

    | Average Non-PEO NEO SCT Total to CAP Reconciliation | | | | | | | | | | | | | Year | Summary Compensation Table Total Compensation | | Deductions | | | Additions | | | | | Compensation Actually Paid | | | | | Grant Date Fair Value of Stock and Option Awards(i) | Change in Pension Value & Nonqualified Deferred Compensation Earnings(ii) | | Fair Value at FYE of Stock and Option Awards(iii) | Change in Fair Value of Outstanding and Unvested Stock and Option Awards(iv) | Change in Fair Value of Vested Stock and Option Awards(v) | Fair Value of Vested Stock and Option Awards(vi) | | | | 2025 | $7,736,428 | - | $4,950,007 | $— | + | $2,717,406 | $467,743 | $(76,749) | $1,979,856 | = | $7,874,677 | | 2024 | $4,603,424 | | $2,266,042 | $— | | $1,484,038 | $(1,938,730) | $(132,477) | $— | | $1,750,213 | | 2023 | $4,702,683 | | $2,068,685 | $— | | $2,109,884 | $496,315 | $(250,319) | $— | | $4,989,878 | | 2022 | $4,977,421 | | $2,550,094 | $— | | $3,264,413 | $663,074 | $445,063 | $— | | $6,799,877 | | 2021 | $6,527,939 | | $2,649,102 | $2,848 | | $4,253,230 | $3,534,002 | $384,913 | $— | | $12,048,134 |

  141. Median Employee to CEO Pay Ratio

    (i) Represents the grant date fair value of stock and option awards granted in Fiscal Year. (ii) No NEOs were eligible to participate in the U.S. pension plan in 2022, 2023, 2024 or 2025. For 2021, no service costs were accrued as Mr. Zachman's pension was under a frozen plan and the other NEOs were not eligible to participate in the U.S. pension plan. No NEOs participate in the deferred compensation program, including our PEO. (iii) Fair value at Fiscal Year-end of outstanding and unvested stock and option awards granted in Fiscal Year. (iv) Change in fair value of outstanding and unvested stock and option awards granted in prior Fiscal Years. (v) Change in fair value as of vesting date of stock and option awards granted in prior Fiscal Years for which applicable vesting conditions were satisfied during Fiscal Year. (vi) Fair value at vesting of stock and option awards granted in fiscal year that vested during fiscal year. (2)For 2021, the Non-PEO NEOs consisted of Messrs. Neppl, Padilla, Zachman and Dimopoulos. For 2022, 2023 and 2024, the Non-PEO NEOs consisted of Messrs. Neppl, Garros, Dimopoulos, and Podwika. For 2025, the Non-PEO NEO's consisted of Messrs. Neppl, Garros, Dimopoulos, Podwika, and Mattiske. (3)Pursuant to the rules of the SEC, the comparison assumes $100 was invested on December 31, 2020 in our registered shares. Historic stock price performance is not necessarily indicative of future stock performance. (4)The industry index is the Standard and Poor's (S&P) 500 Food Products Index as disclosed in the Company's annual report on Form 10-K for the fiscal year ended December 31, 2025. (5)Represents Adjusted Earnings Per Share excluding certain gains and charges, which is the financial measure from the Company performance measure below that the Company uses to link compensation paid to the Company's PEO and Non-PEO NEOs for the years shown to the Company's performance. Adjusted Earnings Per Share excluding notables, as used in this proxy statement, is a non-GAAP financial measure, see Appendix A – Reconciliation of Non-GAAP Financial Measures for reconciliation to the most directly comparable U.S. GAAP measure.

  142. Adj EPS(1) | Adj PBT(I)(2) | AROIC(3) | Relative TSR

    | ☑ | OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE, ON AN ADVISORY BASIS, FOR THE RETROSPECTIVE COMPENSATION OF DIRECTORS AND NAMED EXECUTIVE OFFICERS AS SET FORTH IN THE SWISS STATUTORY COMPENSATION REPORT |

  143. 2025 Compensation of the Board of Directors

    | Name | Fees Earned or Paid in Cash ($) | Stock Awards ($)(1)(2) | Total ($) | | Eliane Aleixo Lustosa de Andrade(3) | $160,000 | $199,922 | $359,922 | | Sheila Bair(4) | $67,253 | $— | $67,253 | | Carol Browner | $170,000 | $199,922 | $369,922 | | Bernardo Hees(4) | $56,044 | $— | $56,044 | | Adrian Isman(5) | $79,565 | $173,661 | $253,226 | | Anne Jensen(5) | $74,592 | $173,661 | $248,253 | | Linda Jojo | $100,220 | $199,922 | $300,142 | | Michael Kobori(4) | $56,044 | $— | $56,044 | | Christopher Mahoney(5) | $84,538 | $173,661 | $258,199 | | Monica McGurk | $150,000 | $199,922 | $349,922 | | Kenneth Simril | $180,000 | $199,922 | $379,922 | | Markus Walt(5) | $74,592 | $173,661 | $248,253 | | Henry "Jay" Winship | $175,000 | $199,922 | $374,922 | | Mark Zenuk | $200,604 | $374,913 | $575,517 |

  144. 2025 Compensation of the Board of Directors

    (1)Each of the non-employee directors serving on the Board on the close of business on Bunge's May 15, 2025 Annual General Meeting received an annual grant of 2,510 restricted stock units. In addition, as part of Mr. Zenuk's compensation for serving as non-employee Chair, he was granted an additional 2,197 restricted stock units. Annual grants vest on the first anniversary of the date of grant, provided the director continues to serve on the Board on such date. The average of the high and low sale prices of our common shares on the NYSE was $79.65 on May 15, 2025. Additionally, each non-employee director that was elected by shareholders at the May 15, 2025 Annual General Meeting and joined the Board following the closing of the Viterra Transaction on July 02, 2025 received an annual grant of 2,164 restricted stock units. These restricted stock units will vest on May 15, 2026. The average of the high and low sale prices of our common shares on the NYSE was $80.25 on July 2, 2025. (2)The amounts shown reflect the full grant date fair value of the award for financial reporting purposes in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation - Stock Compensation ("ASC Topic 718") (without any reduction for risk of forfeiture) as determined based on applying the assumptions used in Bunge's audited financial statements. See Note 24 to the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2025, regarding assumptions underlying the valuation of equity awards. Other than the restricted stock units reported above and associated dividend equivalents, no director had any other stock awards outstanding as of December 31, 2025. The number of awards granted excludes dividend equivalents. The closing price of our registered shares on the NYSE on December 31, 2025 was $89.08. (3)Company paid Swiss social charges for Ms. Aleixo Lustosa de Andrade were trivial and, therefore, are excluded from this table. (4)Ms. Bair and Messrs. Hees and Kobori did not stand for reelection at the May 15, 2025 Annual General Meeting and were not eligible for a stock award. (5)Ms. Jensen and Messrs. Isman, Mahoney, and Walt were elected by shareholders at the May 15, 2025 Annual General Meeting and joined the Board following the closing of the Viterra Transaction on July 02, 2025. The following table discloses the cash and stock awards paid to each of our non-employee directors for the period starting January 1, 2024 through December 31, 2024.

  145. 2024 Compensation of the Board of Directors

    | Name | Fees Earned or Paid in Cash ($) | Stock Awards ($)(1)(2) | Total ($) | | Eliane Aleixo Lustosa de Andrade(3) | $141,319 | $199,957 | $341,276 | | Sheila Bair | $161,319 | $199,957 | $361,276 | | Carol Browner | $151,319 | $199,957 | $351,276 | | Bernardo Hees | $131,319 | $199,957 | $331,276 | | Michael Kobori | $131,319 | $199,957 | $331,276 | | Monica McGurk | $131,319 | $199,957 | $331,276 | | Ken Simril | $161,319 | $199,957 | $361,276 | | Henry "Jay" Winship | $156,319 | $199,957 | $356,276 | | Mark Zenuk | $226,319 | $299,884 | $526,203 |

  146. 2025 Compensation of the Executive Management Team

    | Name and Principal Position | Salary ($) | Bonus ($) | Stock Awards ($)(1) | Non-Equity Incentive Plan Compensation ($)(2) | Change in Pension Value & Nonqualified Deferred Compensation Earnings ($)(3) | Registrant Contributions for Medical and Insurance Premiums and Other Social Charges ($)(4) | All Other Compensation ($)(5) | Total ($) | | Gregory Heckman Chief Executive Officer | $1,400,000 | $— | $12,767,722 | $4,112,640 | $— | $454,954 | $665,117 | $19,400,433 | | John Neppl Chief Financial Officer | $800,007 | $— | $3,191,876 | $1,532,000 | $— | $165,995 | $205,053 | $5,894,931 |

  147. 2024 Compensation of the Executive Management Team

    | Name and Principal Position | Salary ($) | Bonus ($) | Stock Awards ($)(1) | Non-Equity Incentive Plan Compensation ($)(2) | Change in Pension Value & Nonqualified Deferred Compensation Earnings ($)(3) | Registrant Contributions for Medical and Insurance Premiums and Other Social Charges ($)(4) | All Other Compensation ($)(5) | Total ($) | | Gregory Heckman Chief Executive Officer | $1,350,014 | $— | $10,779,356 | $4,046,000 | $— | $687,730 | $636,978 | $17,500,078 | | John Neppl Chief Financial Officer | $787,518 | $— | $2,939,782 | $1,392,000 | $— | $201,379 | $206,152 | $5,526,831 |

  148. Board of Directors

    Board of Directors The following table sets forth the shares, options and share units held as of year-end 2025 by each member of our Board serving on our board at fiscal year-end 2025. The shares ownership of Mr. Heckman, our Chief Executive Officer, who is a member of the Board, is set forth in Executive Management Team. TABLE 3:

  149. Board of Directors and Executive Management Team Biographies (Audited)

    Board of Directors and Executive Management Team Biographies (Audited) The following paragraphs set forth information about each member serving on our Board as of year-end 2025. Functions of the Board of Directors in any other undertakings have been disclosed in accordance with Swiss laws, to the extent permitted by the accepted majority practice, within the limits of what has been disclosed to us.

  150. Board of Directors

    Board of Directors Eliane Aleixo Lustosa de Andrade, 62-Ms. Aleixo Lustosa most recently served as Managing Director at the Brazilian Development Bank, National Bank for Economic and Social Development, where she was responsible for capital markets and the execution of the Brazilian Privatization Program. Earlier in her career, she served as Managing Director of several companies, such as LLX Logística S.A. (currently Prumo Logística S.A.), Abril Group S.A., Globex Utilidades S.A. and Chief Investment Officer of the Petrobras’ Employee Pension Fund. Ms. Aleixo Lustosa currently serves as a non-employee director of the following companies: Motiva S.A. (f/k/a Grupo CCR S.A.), BrasilAgro S.A., and Aegea Saneamento S.A. She has been a referee of the Brazilian Arbitration Chamber of Novo Mercado Bovespa - B3 - Brazilian Stock Market since 2004, and is a member of the Bluebell Index advisory board. Ms. Aleixo Lustosa has a Ph.D in Finance and Masters of Arts and Bachelor of Arts degrees in Economics from Pontifical Catholic University of Rio de Janeiro, Brazil, where she later served as a professor of microeconomics and international relations. She holds four Board Member certifications, issued by Competent Boards (Global ESG & Climate Certificate and Designation Program), Fundação Getulio Vargas (High-Performance Boards Program), INSEAD (Leading from the Chair), and the Brazilian Institute of Corporate Governance (IBGC), where she also teaches Corporate Governance. Carol Browner, 70-Ms. Browner is senior of counsel at Covington & Burling LLP, a multinational law firm, and is a member of their environmental, social and governance practice. From 2011 to 2021, Ms. Browner was senior counsel at Albright Stonebridge Group, a global advisory firm. From 2009 to 2011, she served as Assistant to President Barack Obama and Director of the White House Office of Energy and Climate Change Policy. From 2001 to 2008, Ms. Browner was a founding principal of the Albright Group and Albright Capital Management LLC. Previously, she served as Administrator of the Environmental Protection Agency from 1993 to 2001. She holds a J.D. and B.A. from the University of Florida. Gregory Heckman, 63-Mr. Heckman has been our CEO since 2019 and also has served as a director since October 2018. Mr. Heckman has more than four decades of experience in the agriculture, energy and food processing industries. He is Founding Partner of Flatwater Partners and has served as CEO of The Gavilon Group from 2008 to 2015. At Gavilon, he oversaw significant growth in the agriculture and energy sectors, culminating in the sale of the agriculture business to Marubeni Corporation and the energy business to NGL Energy Partners. Prior to that, he held positions as the Chief Operating Officer of ConAgra Foods Commercial Products and President and COO of ConAgra Trade Group. Mr. Heckman serves as Deputy Chair on the board of the Federal Reserve Bank of St. Louis, a board member for non-profit organization FCLTGlobal, and is a non-executive director on the Board of Directors of OCI NV, a global producer of fertilizer and chemicals. He is also a member of the CEO Council for the NYSE Board Services and actively participates in the Executive Committee of the Chair’s Council for Greater St. Louis, Inc. Mr. Heckman holds a B.S. in agriculture economics and marketing from the University of Illinois at Urbana-Champaign. Adrian Isman, 63-Mr. Isman has served as the Chief Growth Officer of Calosense Inc, a medical services company, since January 2025 and as CEO from November 2023 to December 2024. Prior to Calosense, Mr. Isman started working at Louis Dreyfus Company (LDC), a global agriculture commodities company in 1985. He left LDC in 1997 to serve as Chief Executive Officer of Marc Rich Agriculture Latin America until 2000, when he returned to LDC until his retirement in 2022. While at Louis Dreyfus, Mr. Isman served as CEO of the North America Region from 2017 to 2022. Prior to that, he served in various roles of increasing responsibility in regions across South America, Asia and the United States, including commodities trading and government relations, and as Chief Operations Officer and Chief Executive Officer for various regions, Head of the Juices platform and Co-Head of the Grains and Oilseeds platform. Mr. Isman currently serves as a director for Purefield Ingredients, a private agriculture company, and previously served as a director and Chairman of the Board for Biosev SA, a public company in Brazil that was subsequently acquired by Raizen SA, and for Calyx SA. Mr. Isman holds an undergraduate degree in Economics from the Universidad de Buenos Aires, an Advanced Management Program degree from INSEAD and Fundacao Dom Cabral, and a Corporate Governance Program certificate from the Columbia Business School. Anne Jensen, 53-Ms. Jensen is the Chief Operating Officer at DS NORDEN, a position she assumed in January 2024. She brings more than 25 years of experience in the oil and gas industry, combined with recent executive leadership in global shipping. Ms. Jensen brings deep expertise in business strategy, M&A, trading, exploration and production, and global energy markets. Her leadership is marked by a commitment to building dynamic, inclusive, and high-performing organizations. Prior to joining NORDEN, she served as President and CEO of TotalEnergies Canada, where she led the company through a period of strong financial performance, including record EBITDA of nearly $1 billion in 2021 and above $1.5 billion in 2022. Earlier in her career, she held senior roles at Maersk Oil and Shell. At Maersk, she established the company’s trading business and introduced governance and risk management frameworks. At Shell, she led the transformation of the Trading West Africa business, managing divested assets and regional crude flows. Ms. Jensen has worked extensively across North America, the Caribbean, London and Copenhagen, and has developed long-standing relationships with stakeholders across Europe, the Americas, Africa and Asia. She holds a Bachelor of Commerce in Economics from Copenhagen Business School. Linda Jojo, 60 -Ms. Jojo served as the Executive Vice President, Chief Customer Officer for United Airlines, one of the largest airlines in the world, from 2022 until her retirement in 2024. In this role, she had oversight of digital technology, contact centers, customer solutions and innovation. From 2017-2022, she served as United’s Executive Vice President of Technology and Chief Digital Officer, where she led information technology, data analytics, digital products, e-commerce, cybersecurity, and the airline’s digital strategy. Prior to joining United in 2014, she served as Executive Vice President and Chief Information Officer for Rogers Communications, a wireless communications and media company, where she was responsible for all IT systems for both customer-facing and business support systems. Prior to this, Ms. Jojo served in other senior officer roles at Energy Future Holdings Corporation, Flowserve Corporation and General Electric. Ms. Jojo serves as a non-employee director of Exelon Corp and Norwegian Cruise Line Holdings Ltd. She also serves as a member of the board of the Federal Reserve Bank of Chicago, the board of trustees at Rensselaer Polytechnic Institute in Troy, N.Y. and on the board at Hero Digital Holdings LLC. Ms. Jojo holds a bachelor’s degree in computer science and a master’s degree in industrial engineering from Rensselaer Polytechnic Institute.

  151. Board of Directors

    Christopher Mahoney, 66-Mr. Mahoney is the former Chief Executive Officer of Glencore Agriculture Ltd. where he worked for 21 years and served as CEO from 2002 until his retirement in 2019. While at Glencore, Mr. Mahoney led the 2012 acquisition of Viterra. Mr. Mahoney served as a non-executive director of Viterra from 2019 until the acquisition by Bunge in July 2025, and as non-executive Chairman of the Board of Directors of ED&F Man Holdings Ltd., a global agricultural commodities and financial services merchant, from 2021 to June 2025. Prior to working for Glencore, Mr. Mahoney worked for Cargill in various roles of increasing responsibility from 1982 to 1997. He currently serves as a non‑executive director of Vosbor Exchange BV and STX Group BV, both privately held companies. Mr. Mahoney has a Master of Arts from Oriel College, University of Oxford U.K., and completed the Tuck Executive Program at Dartmouth College. Monica McGurk, 55-Ms. McGurk is currently the Chief Executive Officer of Glanbia Performance Nutrition Americas, which she joined in September 2024. Prior to Glanbia, she served in executive leadership roles at Tropicana Brands Group (TBG) from September 2022 to August 2024, including as Chief Executive Officer of TBG’s North America operations and Chief Executive Officer of the Mainstream Brands Business Unit. Previously, she held a number of positions at Kellogg Company including Chief Growth Officer from 2019 to 2022 and the Chief Global Revenue and eCommerce Officer from 2018 to 2019. Prior to working at Kellogg Company, she worked at Tyson Foods and The Coca-Cola Company where she held various leadership positions in strategy, P/L leadership, and digital media. She is a former non-employee director of the privately held company, PivotBio. Ms. McGurk holds a B.A. in Government from Harvard University and an M.B.A., a Certificate in Public Management and a M.A. in Education from Stanford University. Additionally, she completed the Executive Education Agribusiness Seminar at Harvard Business School; Ethics of AI at the University of Helsinki, Finland; and Introduction to ESG at the Corporate Finance Institute. Kenneth Simril, 60-Mr. Simril is the former President and Chief Executive Officer of Fleischmann's Ingredients, a position he held from 2006 to 2021. Prior to joining Fleischmann's, he was the Chief Financial Officer and Chief Operations Officer of Clipper Corporation, a manufacturer of both custom and semi-custom items for the food service industry. Before Clipper Corporation, Mr. Simril was the Chief Financial Officer of ClearPath Networks Inc. He has also served in various finance and engineering roles with Mobil Oil Corporation and Exxon Mobil Corporation. Mr. Simril is a former non-employee director of At Home Group, Inc. Mr. Simril serves as a director in the American Funds/ Capital Group family managed by Capital Research and Management Company, including as a director of several equity funds, the insurance series funds, and the solutions offerings. He is on related committees including the audit and contracts committees of several such funds. He holds a B.S. in Petroleum Engineering from the University of Southern California and an MBA from Harvard Business School. Markus Walt, 48-Mr. Walt is Head of Business Development for Glencore plc, a major global producer and marketer of metals and energy commodities headquartered in Switzerland. He is also a member of Glencore’s Global Investment and Capital Allocation Committee. Mr. Walt began his career at Glencore in 1999 as an accountant specializing in metals and oil trading, working in Baar and London, where he gained extensive expertise in commodity trading. In 2002, he transitioned to Glencore’s asset team, playing an important role in due diligence activities and integration efforts as the company expanded its industrial production assets. His involvement in strategic M&A was instrumental in major transactions, including the Glencore IPO in 2011, and the acquisitions of Viterra (2012) and Xstrata (2013). Mr. Walt previously served as a non-executive director for Viterra from 2016 until the acquisition by Bunge in July 2025. Mr. Walt graduated from the University of Zurich with an MBA and is a CFA® Charter holder. Henry "Jay" Winship, 58-Mr. Winship is the Founder and Managing Member of Pacific Point Capital, LLC and the Founder and Managing Member of Pacific Point Advisors, LLC. Prior to that, he was a Principal, Senior Managing Director and Member of the Investment Committee at Relational Investors, which he joined in 1996. He has over 25 years of experience as an institutional investor and in investment management, accounting and financial management. Mr. Winship previously served as a non-executive director of C.H. Robinson and CoreLogic, Inc. He currently serves on the Board of Advisors of the Corporate Governance Institute at San Diego State University Fowler College of Business. He is a Certified Public Accountant and holds the professional designation of Chartered Financial Analyst. He holds a bachelor’s degree in finance from the University of Arizona and an MBA from the University of California, Los Angeles. Mark Zenuk, 58-Mr. Zenuk has served as Managing Partner of Tillridge Global Agribusiness Partners, an agribusiness private equity firm, since 2016. Prior to Tillridge, he was a Managing Director at NGP Energy Capital Management where he led the agribusiness investment platform from 2010 to 2016. Before joining NGP Energy Capital Management, he served in many domestic and international executive leadership roles with Archer Daniels Midland Company ("ADM"), having most recently served as President of ADM’s Global Oilseed business unit. Before joining ADM in 1999, he served as General Manager of the Commodity Marketing Group for the Saskatchewan Wheat Pool and Marketing Manager for the Canadian Wheat Board. He holds a B.S. in Agricultural Economics from the University of Saskatchewan. Mr. Zenuk currently serves as Bunge’s Board Chair.