Slide 1: Investor Meeting
Investor Meeting SEPTEMBER 2018
Slide 2: Forward-looking statements
Forward-looking statements Today’s presentation includes forward-looking statements that reflect Bunge’s current views with respect to future events, financial performance and industry conditions. These forward-looking statements are subject to various risks and uncertainties. Bunge has provided add
Slide 3: Our purpose
Our purpose Connecting harvests to homes across the globe, Bunge brings food from where it’s produced to where it’s needed. Our integrated value chain links origination, storage, and transportation to activities further down the line, including processing, packaging and distribution. This helps farm
Slide 4: Agenda
Agenda Performance Strategy Sustainability 4
Slide 5: Key messages
Key messages We are a stronger, better company as we execute on our strategic priorities Performance improvement initiatives have significantly increased industrial efficiencies and reduced costs; Global Competitiveness Program (GCP) to provide significant additional savings in SG&A – Includes s
Slide 6: 2017 Scorecard – we are a stronger, better company than ever before
2017 Scorecard – we are a stronger, better company than ever before We are successfully executing on multiple levers within our control to improve earnings Right Winning Best in Balance Footprint Class Returns-driven capital allocation ~10% dividend increase Complete footprint NOLA port upgra
Slide 7: GCP: SG&A savings target of $250 million
GCP: SG&A savings target of $250 million Major restructuring and efficiency program to provide significant savings, as well simplifying organizational structure $1.45 On track for $150 million of $1.35 savings by end of 2018; $50 million higher than original target $1.1 $ billion – Senior manageme
Slide 8: Consistent track record of returning capital to shareholders
Consistent track record of returning capital to shareholders ••••••••••••••••••••••••••••••••••••• $ per share of common stock(1) Cumulative share repurchase history ($m) 1.80 1.64 1.48 1.32 1,275 1,275 1.17 1.06 1,075 0.98 0.90 0.82 0.74 775 0.67 0.63 0.56 0.48 0.3850.42 475 2002 2003 2004 2005 200
Slide 9: Strong cash flow, even in the most challenging conditions
Strong cash flow, even in the most challenging conditions Adjusted Funds From Operations (Adjusted FFO) 1,2 $ billions 1.5 The recovering 1.4 Agribusiness 1.3 environment along 1.2 with cost 0.9 improvement initiatives will drive higher FFO in 2018 and beyond 2013 2014 2015 2016 2017 1.Adjusted Fu
Slide 10: Q2 2018 Full Year Outlook
Q2 2018 Full Year Outlook Adjusted EBIT 1,2 Agribusiness $ billions $1.3 $1.3 Expect EBIT in upper end of $800M to $1B range $1.2 $1.2 Strong soy crush market dynamics with ~75% of 2H capacity $1.1 $1.1 secured $1.1 Fertilizer EBIT of ~$25 million Food & Ingredients $0.6 Expect EBIT in lower
Slide 11: Agenda
Agenda Performance Strategy Sustainability 11
Slide 12: Our global Agri-Food footprint enables comprehensive market coverage
Our global Agri-Food footprint enables comprehensive market coverage with leading positions in the fastest growing markets Grain origination/infrastructure Port terminal Oilseed processing plant Edible oil facility Grain milling facility 12
Slide 13: Underlying Agribusiness growth drivers are intact
Underlying Agribusiness growth drivers are intact World Trade of Corn, Wheat and Soy World Soy Crush MMT MMT 360 340 320 300 280 260 Increase by ~80mmt Increase by ~180mmt 240 220 200 180 160 Source: Bunge analysis 13
Slide 14: Integrated value chain maximizes results
Integrated value chain maximizes results “where we start” efficiency Supply chain Reduces costs Customer Partner of choice Grain Origination Oilseed Processing Transportation & Logistics Marketing & Distribution Oil Refining & Packaging Wheat, Corn & Rice Milling Market insight Food & Agribu
Slide 15: Acquisition of Loders Croklaan positions Bunge as the global leader in B2B edible oils
Acquisition of Loders Croklaan positions Bunge as the global leader in B2B edible oils Aligns with strategic initiative to increase presence in higher margin downstream food products Creates a comprehensive product offering derived from seed and tropical oils, with leading (1) Source: USDA, FAO,
Slide 16: Incremental EBIT opportunity beyond 2018
Incremental EBIT opportunity beyond 2018 We have a variety of drivers, which will enable us to grow earnings even as Agribusiness soy crush margins normalize $US million ~$100 ~$80 ~$75 ~$300 ~$55 - $325 $70-95 Bunge F&I core growth Loders + GCP SG&A Industrial synergies (1) savings savings (2) (1)
Slide 17: Our strategy is aligned with the right trends
Our strategy is aligned with the right trends Broad portfolio of oils, fats, edible grains Healthy, less processed foods with innovation capabilities that align with changing trends Food security Multi-origin supply and integrated logistics control Supply chain visibility Quality and logistics contr
Slide 18: Agenda
Agenda Performance Strategy Sustainability 18
Slide 19: Evolving Consumer Perception of Sustainability
Evolving Consumer Perception of Sustainability 87% 73% impacted in believe large attitude or companies behavior play a role Source: Hartman Group 19
Slide 20: Strong Commitments Across the Business
Strong Commitments Across the Business 21st Century Value Chains Zero-deforestation, human rights protection, CEO Water Mandate, product traceability Climate Change Understand and promote adaption and resilience in Bunge operations and supply chains Resource Management Reduce Bunge’s water, waste, e
Slide 21: Zero-Deforestation Strategy with Industry Leading Programs
Zero-Deforestation Strategy with Industry Leading Programs Principles Strategies Progress & Activities • >/= 90% traceability direct supply in key areas Develop traceable & monitored Maintain supply chains competitiveness • Decision support tool for expansion Identify & expand over open land & go zo
Slide 22: In summary
In summary We are a stronger, better company than we were before We have the industry’s leading agribusiness footprint that is ideally positioned for the current environment We expect significant year-over-year EBIT improvement in 2018 We have a variety of drivers to grow earnings beyond 201
Slide 23: Q&A
BUNGE O&A
Slide 24: Non-GAAP reconciliation notes
Non-GAAP reconciliation notes Non-GAAP measures Bunge uses total segment earnings before interest and taxes (“Total Segment EBIT”) and Total Segment EBIT, adjusted to evaluate Bunge’s operating performance. Total Segment EBIT is the aggregate of each of our five reportable segments’ earnings before
Slide 25: Investor Meeting
Investor Meeting SEPTEMBER 2018