St. Louis, MO - July 28, 2021 - Bunge Limited (NYSE:BG) today reported second quarter 2021 results
• Q2 GAAP EPS of $2.37 vs. $3.47 in the prior year; $2.61 vs. $1.88 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences
• Continued strong Agribusiness execution across the global network
• Outstanding Refined and Specialty Oils results driven by increasing demand and record refining capacity utilization
• Increasing full-year adjusted EPS outlook to at least $8.50 based on strong Q2 results
• Updating mid-cycle earnings baseline with $2 per share increase reflecting structural changes in oilseed market environment and greater execution benefits from new operating model

- Overview
Greg Heckman, Bunge's Chief Executive Officer, commented, "Our team outperformed expectations by effectively navigating global volatility to produce another strong quarter of results. Our industrial, commercial and risk management teams collaborated throughout the value chains, optimizing trade flows and production volumes while reducing unplanned downtime.
“With an accelerating structural shift in demand for sustainable food, feed and fuel, Bunge’s position in the global agribusiness supply chain provides growing opportunity to partner with customers to meet their needs in this changing environment,” continued Mr. Heckman. “We are proud of our work with farmers and customers to sustainably connect supply and demand, develop innovative products and services and create new plant-based solutions.”

Financial Highlights
Quarter Ended June 30, Six Months Ended June 30,
(US$ in millions, except per share data) 2021 2020 2021 2020
Net income attributable to Bunge $ 362 $ 516 $ 1,194 $ 332
Net income per common share-diluted $ 2.37 $ 3.47 $ 7.85 $ 2.14
Mark-to-market timing difference (a) $ 0.24 $ (2.00) $ (1.05) $ 0.13
Certain (gains) and charges (b) $ — $ 0.44 $ (1.08) $ 0.46
Adjustment of redeemable noncontrolling interest (c) $ — $ (0.03) $ — $ 0.07
Adjusted Net income per common share-diluted (d) $ 2.61 $ 1.88 $ 5.72 $ 2.80
Core Segment EBIT (d) (e) $ 500 $ 949 $ 1,652 $ 893
Mark-to-market timing difference (a) 50 (385) (195) 25
Certain (gains) & charges (b)
— — (170) —
Adjusted Core Segment EBIT (d) $ 550 $ 564 $ 1,287 $ 918
Corporate and Other EBIT (d) $ (60) $ (123) $ (146) $ (187)
Certain (gains) & charges (b)
— 66 — 71
Adjusted Corporate and Other EBIT (d) $ (60) $ (57) $ (146) $ (116)
Non-core Segment EBIT (d) (f) $ 19 $ (88) $ 39 $ (138)
Certain (gains) & charges (b)
— — — —
Adjusted Non-core Segment EBIT (d) $ 19 $ (88) $ 39 $ (138)
Total Segment EBIT (d) $ 459 $ 738 $ 1,545 $ 568
Mark-to-market timing difference (a) 50 $ (385) $ (195) $ 25
Total Certain (gains) & charges (b)
— $ 66 $ (170) $ 71
Adjusted Total Segment EBIT (d) $ 509 $ 419 $ 1,180 $ 664

(a) Mark-to-market timing impact of certain commodity and freight contracts, readily marketable inventories, and related hedges associated with committed
future operating capacity. See note 3 in the Additional Financial information section of this release for details.
(b) Certain (gains) & charges included in Total Segment EBIT. See Additional Financial Information for details.
(c) Retained earnings impact associated with an adjustment to the carrying amount of the redeemable noncontrolling interest recorded in respect of our 70%
ownership interest in Loders. See note 4 in the Additional Financial information section of this release for details.
(d) Core Segment EBIT, Adjusted Core Segment EBIT, Corporate and Other EBIT, Adjusted Corporate and Other EBIT, Non-core Segment EBIT, Adjusted Noncore Segment EBIT, Total Segment EBIT, Adjusted Total Segment EBIT, and Adjusted Net income per common share-diluted are non-GAAP financial
measures. Reconciliations to the most directly comparable U.S. GAAP measures are included in the tables attached to this press release and the
accompanying slide presentation posted on Bunge's website.
(e) Core Segment earnings before interest and tax ("Core Segment EBIT") comprises the aggregate earnings before interest and tax (“EBIT”) of Bunge’s
Agribusiness, Refined and Specialty Oils and Milling reportable segments, and excludes Bunge's Sugar & Bioenergy reportable segment and Corporate and
Other activities.
(f) Non-core Segment EBIT comprises Bunge’s Sugar & Bioenergy reportable segment EBIT, which reflects Bunge's share of the results of its 50/50 joint
venture with BP p.l.c.

see & read more on
https://www.bunge.com/sites/default/files/attachments/bunge_reports_second_quarter_2021_results.pdf