BG - Mergers and acquisitions

NOTE TO EDITORS: The Following Is an Investment Opinion Issued by Spruce Point Capital Management Provides Analysis That Suggests Bunge Is a Non-Economic Agribusiness Roll-Up That Has Generated a Capital Deficit of $1.6 Billion After Capex, Business Investment and Asset-Shuffling, Making Its $4.7 and $3.9 Billion of Dividends and Share Repurchases Effectively Debt Financed Believes That Bunge Is Suffering Core Challenges In Its Oilseeds Business as Its Food Products and Alcoholic Beverage Clients Grapple With Changing Consumer Demand and The Effects of GLP-1 Weight Loss Drugs Presents Evidence That Bunge, Pro Forma For the Viterra Acquisition, Wildly Missed 2025 EBITDA Projections By

BZ Group and Bunge (NYSE:BG) today announced the signing of a strategic partnership. As part of this agreement, Bunge acquires 49% of BZ Group while the Beuzelin family remains the majority shareholder with 51% ownership. The transaction is subject to customary closing conditions and regulatory approval. The BZ Group, located in Normandy, France, originates products from a large network of independent farmers and also sources grains, oilseeds and pulses from suppliers in the northwest of France to export to its customers via its port terminal in Rouen. Bunge, a global leader in agribusiness and food ingredients, has developed a strong relationship with BZ over the years. The decision to co