Bunge Global SA

Good morning and welcome to the Bungee Global Second Quarter 2025 Earnings Release and Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Mark Hayden, Vice President of Investor Relations. Please go ahead.

Thank you, Drew. Thank you all for joining us this morning for our second quarter earnings call. Before we get started, I want to let you know that we have slides to accompany our discussion. These can be found at the Investor Center at our website on bungie.com for events and presentations. Reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measure posted on our website as well. I'd like to direct you to slide two to remind you that today's presentation includes forward-looking statements that reflect Bungie's current view with respect to future events, financial performance, and industry conditions. These forward-looking statements are subject to various risks and uncertainties. Bungie has provided additional information in its reports on file with the SEC concerning factors that could cause actual results to differ materially from those contained in this presentation, and we encourage you to review these factors. On the call this morning are Greg Heckman, Bungie's Chief Executive Officer, John Neville, Chief Financial Officer. I'll now turn the call over to Greg.

Thank you, Mark, and good morning, everyone. Before we get started, I just wanted to mention, you may have noticed, Mark's now leading IR, and I wanted to give a quick thank you to Ruthann for her years of service in IR, and she'll now be leading our government affairs team globally, so they'll still be working closely together. So welcome. This is a pivotal quarter for Bungie, and I want to begin by thanking the team for continued focus and execution. We successfully navigated a highly complex period, both internally and externally, and and delivered better than expected results for the quarter, especially given the market conditions. The team continues to demonstrate agility in an ever-changing environment, while also making significant progress against our strategic priorities. We're very pleased to have completed our combination with Viterra earlier this month, creating the premier agribusiness solutions company, positioned to address some of the most pressing needs of the 21st century for farmers and consumers across food, feed, and fuel. This has been a long time in the making, and we use that time well. We're finding our integration plans and preparing for execution. Now that the combination is complete, teams are moving quickly to identify and capture cost savings, along with commercial opportunities we couldn't pursue before closing. We're already moving to implement logistical and transportation efficiencies the potential to reduce expenses between origin and destination. These are durable synergies that will benefit everyone across the value chain. Our teams have hit the ground running. I've been impressed by the seamless collaboration, partnership, unified sense of purpose across the company. We remain as excited as ever about our path ahead. Viterra brings a very talented team, robust network of strategically positioned assets. We move into integration phase. We are leveraging core aspects of the playbook that has served Bungie so well over the past several years. We'll move quickly to apply many of the same proven standardized approaches to reach the full potential for a combined company. This includes utilizing the value chain operating model, our global functional centers of excellence, and structuring our reward system to ensure our teams are working together toward the common goals of our global company while always staying aligned with our shareholders. We are applying a global approach to risk management that aligns with the earnings power of our combined company and today's environment, positioning us to better capture value from our expanded global asset base while prudently allocating risk to the best opportunities. As we integrate these two highly complementary businesses, we're optimistic about the value we will generate. With the rigorous integration planning that's been done, we have a clear path to bringing our companies together, capturing meaningful efficiencies and operational synergies. I'm especially excited about the potential commercial synergies. We're already identifying opportunities to run a more efficient processing and logistics network, use our combined information to better manage risk for Bungie and our customers. It's been great to see the teams working quickly to identify and tackle these areas together. Beyond Viterra, we continue to focus on our broader strategic priorities, including ongoing portfolio optimization. Earlier this month, we announced the completion of the sale of U.S. corn milling, which further simplifies our business along our global value chains. Shifting to our operating performance, our second quarter results were largely driven by better than expected processing results in South America, higher margins in Brazil and Argentina. Finance specialty oils was negatively impacted by uncertainty related to U.S. biofuel policy. John will go into more detail about the second quarter financials in a moment. Looking ahead, We are maintaining our full year adjusted EPS outlook of approximately $7.75 to the legacy standalone bungie. It no longer includes the second half earnings from our corn milling business due to its sale, which closed on June 30th. With that, I'll turn it over to John for a deeper look at our financials and outlook.