Bunge Global SA

Good day and welcome to the Bungie Global SA fourth quarter 2025 earnings release and conference call. All participants will be in the listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. 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. Please go ahead.

Great. Thank you. And thank you for joining us this morning for our fourth 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 on our website at bungie.com under Events and Presentations. Reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measure are posted on our website as well. I'd like to direct you to slide two and 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 materially. from those contained in this recipe. And we encourage you to review these factors. On the call this morning are Greg Heckman, Bungie's Chief Executive Officer, and John Nepple, Chief Financial Officer. I'll now turn the call over to Greg.

Thank you, Mark. And good morning, everyone. I want to start this morning by thanking the team and recognizing their extraordinary work around the world, both throughout 2025 and as we move into 2026. This past year was one of execution, investment, and integration, all in a market environment that demanded agility and discipline. In 2025, we reached a major milestone with the completion of our VITERA combination. The integration work our teams accomplished has been exceptional, and we remain highly engaged and excited about the progress we're continuing to make together. Building on a foundation of cultures that were already aligned on doing what is right for customers, this combination brings both organizations together within our proven end-to-end value chain operating model, removing complexity and strengthening shared goals. As a result, we've increased connectivity and the flow of information across our combined organization, a crucial component to how we operate. As I've said before, it's our competitive advantage to have great people across the organization having the same information at the same time and working toward unified objectives. This alignment is already delivering results. We are unlocking synergies in origination, merchandising, processing, and distribution, optimizing flows between origin and destination, and capturing margin through improved logistics and better coordination. For example, previously, VITERA's origination activities in most regions would have been managed purely through a merchandising lens, leveraging a nimble platform built to operate on short lead times. Today, people managing the same network of elevators are now making decisions with a more complete picture of our global platform, taking an integrated view that balances speed with longer-term considerations. This not only allows us to keep our processing and refining plants running at high capacities, but also results in more profitable outcomes for both farmers and consumers. We have capabilities today that we didn't have before, and we're just getting started. These types of benefits are durable and will compound over time. we will provide more details on synergy capture, capital allocation priorities, and our combined long-term outlook at our Investor Day on March 10th. And while we've been integrating VITERRA, we've also been working to advance our large greenfield projects, navigating trade flows, policy uncertainty, and geopolitical volatility. all while staying focused on connecting farmers to end-market demand across food, feed, and fuel. Shifting to our operating performance, our fourth quarter reflected higher results in all our segments, driven by strong execution and our expanded footprint and capabilities. John will go into more details in a moment. Externally, the environment remains complex with limited forward visibility, Geopolitical tensions, evolving trade flows, and uncertainty around biofuel policy, and that's particularly in the U.S., continue to influence farmer and consumer behavior. Based on what we can see today in the current environment and forward curves, we expect full year 2026 adjusted EPS in the range of $7.50 to $8. And with that, I'll turn it over to John for more details on our financials and outlook.