Bunge Limited (BG) Expands Share Buyback by $500M

Bunge Global SA (NYSE: BG) (“Bunge”) today announced that on November 13, 2024, its Board of Directors authorized the repurchase of an additional $500 million of its issued and outstanding registered shares, par value $0.01 per share (each a “Share,” and collectively the “Shares”) under a previous share repurchase program authorized on June 13, 2023. This is in addition to approximately $800 million for Share repurchases that remain available under the existing share repurchase program as of September 30, 2024, for an aggregate purchase authorization of approximately $1.3 billion (the “Expanded Program”).

Greg Heckman, Bunge’s Chief Executive Officer, said, “As we continuously look for opportunities to best use our capital, share repurchases are an important consideration in our allocation framework. We are pleased to use a meaningful amount of the proceeds from the sale of our interest in the sugar and bioenergy joint venture to expand our existing share repurchase program. This additional $500 million authorization gives us capacity to execute additional repurchases beyond our previous commitment.”

The Expanded Program continues to have an indefinite term. The repurchases may be made from time to time through a variety of means, including in the open market, in privately negotiated transactions or through other means as determined by Bunge, and in compliance with applicable legal requirements. The repurchases could include purchases pursuant to a written trading plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, which allows Bunge to repurchase Shares at times when they might otherwise be prevented from doing so by applicable securities laws or under self-imposed trading blackout periods. The timing and number of Shares repurchased will depend on a variety of factors, including share price, general economic and market conditions, and other considerations. The Expanded Program may be modified, suspended or discontinued at any time without further notice.

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