0001144519-23-000161.txt : 20230621 0001144519-23-000161.hdr.sgml : 20230621 20230621172720 ACCESSION NUMBER: 0001144519-23-000161 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20221231 FILED AS OF DATE: 20230621 DATE AS OF CHANGE: 20230621 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BUNGELTD CENTRAL INDEX KEY: 0001144519 STANDARD INDUSTRIAL CLASSIFICATION: FATS & OILS [2070] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16625 FILM NUMBER: 231030918 BUSINESS ADDRESS: STREET 1: 1391 TIMBERLAKE MANOR PARKWAY CITY: CHESTERFIELD STATE: MO ZIP: 63017 BUSINESS PHONE: 314-292-2000 MAIL ADDRESS: STREET 1: 1391 TIMBERLAKE MANOR PARKWAY CITY: CHESTERFIELD STATE: MO ZIP: 63017 FORMER COMPANY: FORMER CONFORMED NAME: Bunge LTD DATE OF NAME CHANGE: 20050405 FORMER COMPANY: FORMER CONFORMED NAME: BUNGE LTD DATE OF NAME CHANGE: 20010710 11-K 1 a11-kbungesavingsplanxsupp.htm BUNGE SAVINGS PLAN - SUPPLEMENT A Document



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 11-K

x ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the fiscal year ended December 31, 2022

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
for the transition period from to

Commission file number 1-16625

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

Bunge Savings Plan – Supplement A


B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Bunge Limited
1391 Timberlake Manor Parkway
Chesterfield, MO 63017



TABLE OF CONTENTS
Page
Report of Independent Registered Public Accounting Firm
Financial Statements
Statements of Net Assets Available for Benefits as of December 31, 2022 and 2021
Statements of Changes in Net Assets Available for Benefits for the Years ended December 31, 2022 and 2021
Notes to Financial Statements
Supplemental Schedules
Schedule H, Line 4a - Schedule of Delinquent Participant Contributions for the Year ended December 31, 2022
Schedule H, Line 4i - Schedule of Assets (held at End of Year) as of December 31, 2022
Exhibits
Signature
Exhibit 23.1 Consent of Independent Registered Public Accounting Firm




Report of Independent Registered Public Accounting Firm


To the Participants, Administrator, and Investment
Committee of the Bunge Savings Plan - Supplement A
Saint Louis, Missouri
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Bunge Savings Plan - Supplement A (the Plan) as of December 31, 2022 and 2021, and the related statements of changes in net assets available for benefits for the years ended December 31, 2022 and 2021, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2022 and 2021, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Information
The supplemental information contained in the Schedules of Assets (Held at End of Year) as of December 31, 2022 and Delinquent Participant Contributions for the year ended December 31, 2022 have been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.
We have served as the Plan’s auditor since 2011.
/s/ Armanino LLP
St. Louis, Missouri
June 21, 2023
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BUNGE SAVINGS PLAN – SUPPLEMENT A
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2022 AND 2021
20222021
INVESTMENTS, at fair value:
Mutual funds$1,742,550 $4,324,033 
Bunge Limited common shares166,075 142,403 
Collective trust funds1,669,366 301 
Common stock3,082 43,267 
Non Interest bearing cash— 192 
Interest bearing cash9,627 68,796 
Total Plan interest in Bunge Defined Contribution Master Trust
3,590,700 4,578,992 
RECEIVABLES:
Notes receivable from participants124,092 128,614 
Employer contributions75 — 
Total receivables124,167 128,614 
NET ASSETS AVAILABLE FOR BENEFITS$3,714,867 $4,707,606 
See notes to financial statements.

-2-


BUNGE SAVINGS PLAN – SUPPLEMENT A
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
20222021
ADDITIONS (LOSSES):
Participants’ contributions$291,360 $251,567 
Employer contributions3,947 1,551 
Rollover contributions41,749 — 
Interest income on notes receivable from participants4,441 3,859 
Plan interest in Bunge Defined Contribution Master Trust:
Investment income — dividends99,154 287,899 
Investment income — interest117 24 
Net appreciation (depreciation) in value of investments(851,435)282,176 
Net appreciation (depreciation) of Plan interest in Bunge Defined Contribution Master Trust (752,164)570,099 
Total Additions (Losses)(410,667)827,076 
DEDUCTIONS:
Benefits paid to participants569,519 343,511 
Administrative expenses12,553 11,411 
            Total Deductions582,072 354,922 
INCREASE (DECREASE) IN NET ASSETS(992,739)472,154 
NET ASSETS AVAILABLE FOR BENEFITS — Beginning of year4,707,606 4,235,452 
NET ASSETS AVAILABLE FOR BENEFITS — End of year$3,714,867$4,707,606
See notes to financial statements.

-3-


BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
1.BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
The Bunge Savings Plan – Supplement A (the “Plan”) is a subplan of the Bunge Savings Plan (the “Savings Plan”), which was established on April 1, 1996. Prior to January 1, 2004, the Plan was a stand-alone plan known as the Central Soya 401(k) Plan for Hourly Employees. The Savings Plan was amended on January 1, 2004, to transfer the assets of the Central Soya 401(k) Plan for Hourly Employees to the Savings Plan and master trust. The Savings Plan was further amended to provide that the Plan provisions applicable to the participants in the Central Soya 401(k) Plan for Hourly Employees are set forth in a separate subplan known as the Bunge Savings Plan – Supplement A. On January 1, 2005, Bunge Limited (the parent of Bunge North America, Inc. (the "Company"), the plan sponsor) separated the Plan from the Savings Plan.
Basis of Accounting — The accompanying financial statements of the Plan have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).
Investment Valuation and Income Recognition — The Plan’s investment in the Bunge Defined Contribution Master Trust (the “Trust”) is presented at fair value, which has been determined based on the fair value of the underlying investments of the Trust. The Trust’s investments include mutual funds, Bunge Limited common shares, interest bearing cash, non interest bearing cash, and other common stock holdings that are stated at estimated fair value based on quoted market prices.
The Collective trust funds consist of certain trust funds that are valued at the net asset value per share as determined by the issuer based on the underlying fair value of its net assets and of a stable value fund that is composed primarily of fully benefit-responsive investment contracts that are valued at the net asset value of units of the bank collective trust.
One of the investment options offered by the Plan, the MIP II Fund, is a collective trust that is fully invested in contracts deemed to be fully benefit-responsive. The Plan reports its investment in the MIP II Fund at fair value using the net asset value of the units held by the fund at year-end as a practical. See Note 10 - Investments Measured Using The Net Asset Value Per Share Practical Expedient, for investments held by the Trust for which fair value is measured using the net asset value per share practical expedient.
Sales and purchases of investments are accounted for on a trade date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Earnings on investments are allocated to participants based on daily account balances. See Note 9 - Fair Value Measurements for discussion of fair value measurements.
Payment of Benefits — Benefit payments are recorded when paid.
Administrative Expenses — Administrative expenses of the Plan are paid by the participants as provided in the Plan document. Certain expenses of maintaining the Plan are paid directly by the Company and are excluded from these financial statements.
Use of Estimates — The preparation of financial statements in conformity with GAAP requires the Plan's management to make estimates and assumptions that affect the reported amounts of assets, liabilities, accompanying notes of the Plan financial statements, and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Risks and Uncertainties — The Plan invests in the Trust which holds various securities, including mutual funds, Bunge Limited common shares, collective trust funds, interest bearing cash, non interest bearing cash and other common stock holdings. Investment securities, in general, are exposed to various risks, such as
-4-


BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities may occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
Voluntary Compliance Resolution - The Company had late participant contributions for the Plan year ended December 31, 2022. The Company utilized the Department of Labor Voluntary Fiduciary Correction Program calculator to determine the lost earnings in the amount of $75 and corrected the delinquent contributions subsequent to year end.
Reclassification - Certain reclassifications have been made to the current year mutual funds and collective trust funds amounts to conform to the updated investment lineup classification.
Subsequent Events - The Plan has evaluated subsequent events through June 21, 2023, the date the financial statements were available to be issued.
2.    PLAN DESCRIPTION
The Plan is a defined contribution plan designed to qualify under Section 401(k) of the Internal Revenue Code (“IRC”). The Bunge U.S. Retirement Plans Committee is responsible for administering the Plan in accordance with the Employee Retirement Income Securities Act of 1974 and Plan documents. The Investment Committee is responsible for monitoring Plan assets. The Company has appointed Fidelity Management Trust Company (“Fidelity”) to serve as record keeper, administrator, and trustee of both the Plan and the Trust. The descriptions of Plan terms in the following notes to financial statements are provided for general information purposes only and are qualified in their entirety by reference to the Plan document. Participants should refer to the plan document for a more complete description of the applicable provisions of the Plan. All regular hourly employees of Bunge North America (East), L.L.C., whose terms and conditions of employment are subject to a collective bargaining agreement that bargained to participate in the Plan, are eligible participants. Individual accounts are maintained for each Plan participant. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
3.    CONTRIBUTIONS AND WITHDRAWALS
Contribution limits and employer match contributions for participants are based on their respective collective bargaining agreements. As determined by the IRC’s qualified retirement plan limits, the total amount which a participant could elect to contribute to the Plan on a pre-tax or Roth after-tax basis could not exceed $20,500 in 2022 and $19,500 in 2021. However, if a participant reached age 50 by December 31, they are able to contribute an additional $6,500 in “catch up” contributions to the Plan on a pre-tax or Roth after-tax basis.
The contribution amounts and allocation between pre-tax and post-tax basis of participant accounts are subject to IRC discrimination tests and limitations. The participants’ contributions, plus any actual earnings thereon, vest immediately, unless otherwise specified on their respective collective bargaining agreements.

Plan participants may select from a number of investment alternatives for their contributions. Investment choices include various mutual funds, common stock, and the Bunge Common Stock Fund (subject to certain limits) (the "Bunge Fund”). The Bunge Fund pools a participant’s money with that of other employees to buy common shares of Bunge Limited as well as short-term investments designed to allow participants to buy or sell without the usual trade settlement period for individual stock transactions. The value of the participant investment in the Bunge Fund will vary depending on the performance of Bunge Limited, the overall stock market, and the performance and amount of short-term investments held by the
-5-


BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
Bunge Fund, less any expenses accrued against the Bunge Fund. All dividends and interest earned in the Bunge Fund are reinvested in the Bunge Fund. A participant’s ownership in the Bunge Fund is measured in units of the Bunge Fund instead of common shares.
Participants may not withdraw pre-tax contributions except as provided for hardship withdrawals or for participants at the Decatur, Indiana facility age 59½ withdrawals permitted by the Plan. Following normal retirement or termination of employment, participants may withdraw their entire account balances in a lump sum or any other form of payment allowed by the Plan prior to April 1 following the calendar year in which the participant attains age 72. Participants with account balances less than or equal to $5,000 upon retirement or termination must withdraw their entire account balances in a lump sum or any other form of payment allowed by the Plan on the date the participant terminates employment. Withdrawals by participants are recorded upon distribution.
The Plan allows participants the option of making qualified (as defined by the Plan document and the IRC) rollover contributions into the Plan. A participant may withdraw all or any portion of their after-tax contribution account including earnings, at any time.
4.    NOTES RECEIVABLE FROM PARTICIPANTS
Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum of the lesser of $50,000 or 50% of their vested account balance. Loan terms range from one to five years with the exception of loans for the purchase of a primary residence, which may have a longer term and participants can have no more than two loans outstanding at any given time. The loans are secured by the balance in the participant’s account and bear interest at rates commensurate with the prevailing interest rate charged on similar commercial loans by lending institutions as determined by the plan administrator. Loan payments, including interest due, are paid ratably through payroll deductions. As of December 31, 2022, participant loans bear interest rate of 3.75% to 6.75%, and mature through November 2027. No allowance for credit losses has been recorded as of December 31, 2022 or 2021. Notes receivable from participants are measured at their unpaid principal balance plus any accrued, but unpaid interest. Fees related to the administration of notes receivable from participants are charged directly to the participant's account and are included in administrative expenses.
5.    PLAN TERMINATION
Although it has not expressed any intention to do so, the Company has the right under the Plan to terminate the Plan subject to the provisions set forth in ERISA. In the event the Plan is terminated, participants will become 100% vested in their employer contributions.
6.    FEDERAL INCOME TAX STATUS
The Plan obtained its latest determination letter from the Internal Revenue Service on March 31, 2016, stating that the Plan and related trust were designed and in compliance with the applicable sections of the IRC. Although the Plan has been amended since receiving the determination letter, the plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements of the IRC and the Plan and related trust continue to be tax exempt. Accordingly, no provision for income taxes has been recorded in the Plan’s financial statements.
GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the state and federal taxing authorities. The plan administrator has analyzed the tax positions
-6-


BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
taken by the Plan, and has concluded that as of December 31, 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.
7.    EXEMPT PARTY-IN-INTEREST TRANSACTIONS
Certain of the Trust’s investments are in shares of funds offered by Fidelity. Therefore, these transactions qualify as exempt party-in-interest transactions under ERISA. Fees paid by the Plan were $12,553 and $11,411 for the years ended December 31, 2022 and 2021, respectively.
Personnel and facilities of the Company have been used by the Plan for its accounting and other activities at no charge to the Plan.
The Plan allows for participants to invest in the Bunge Fund (subject to certain limits) which holds Bunge Limited common shares, as well as, short-term investments. Bunge Limited is the parent company of the sponsoring Company. The Bunge Fund held 128,712 and 128,553 common shares of Bunge Limited at December 31, 2022 and 2021, respectively of which 1,665 and 1,525 shares were allocated to the Plan at December 31, 2022 and 2021, respectively. During 2022 and 2021, the Plan recorded dividend income of $3,719 and $3,673, respectively, and net appreciation in fair value of $9,312 and $47,346, respectively, from Bunge Limited common shares.
8.    INTEREST IN BUNGE DEFINED CONTRIBUTION MASTER TRUST
The Plan’s investment assets are held in the Trust which was established for the investment of the combined assets of the Plan and other defined contribution plans sponsored by the Company. The assets of the Trust are held, managed, and administered by Fidelity pursuant to the terms of the Bunge Defined Contribution Master Trust. Investment income and administrative expenses relating to the Trust are allocated to the individual participants in the plans based upon individual participant activity. Each participating retirement plan has a divided interest in the Trust.
The Trust is required to maintain separate accounts reflecting the equitable share of each participating plan in the Trust. The Plan’s equitable share of the Trust cannot be used for the payments of expenses or benefits allocable to any other participating plan.
At December 31, 2022 and 2021, the Plan's interest in the net assets of the Trust was approximately 0.9% and 1.0%, respectively.







-7-


BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
The investments of the Trust at December 31, 2022 and 2021 are summarized as follows:
20222021
Bunge Defined Contribution Master TrustPlan's Interest in Master TrustBunge Defined Contribution Master TrustPlan's Interest in Master Trust
Cash$4,585,140 $9,627 $4,220,157 $68,988 
Investments - at fair value:
Mutual funds213,471,661 1,742,550 453,498,0944,324,033 
Bunge Limited common shares12,841,596 166,075 12,001,708142,403 
Collective trust funds155,116,396 1,669,366 7,598,145301 
Common stock7,628,739 3,082 10,181,37143,267 
Total investments, at fair value389,058,392 3,581,073 483,279,318 4,510,004 
Receivables
Notes receivable from participants4,336,116 124,092 4,387,756 128,614 
Employer contributions1,411,684 75 416,968 — 
Total receivables5,747,800 124,167 4,804,724 128,614 
Total$399,391,332 $3,714,867 $492,304,199 $4,707,606 
The following are net appreciation (depreciation) in the fair value of investments and investment income for the Bunge Defined Contribution Master Trust for the years ended December 31, 2022 and 2021.
20222021
Net appreciation (depreciation) in fair value of investments$(94,203,052)$36,448,953 
Investment income9,571,439 28,073,629 
Total$(84,631,613)$64,522,582 
9.    FAIR VALUE MEASUREMENTS
ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), established a single authoritative definition of fair value, set a framework for measuring fair value, and requires additional disclosures about fair value measurements.
The various inputs that may be used to determine the value of the Plan’s and Trust’s investments are summarized in three broad levels. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. There have been no changes in methodologies or investment levels during the years ended December 31, 2022 and 2021.
Level 1 — Quoted prices (unadjusted) in active markets for identical securities.
Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
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BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
Level 3 — Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).
The following tables set forth by level within the fair value hierarchy a summary by category of equity securities held by the Trust measured at fair value on a recurring basis at December 31, 2022 and 2021. The tables do not include the Trust’s cash of $4,585,140 and $4,220,157, respectively, in accordance with the disclosure requirements of ASC 820, or the Collective trust funds value of $155,116,396 and $7,598,145 at December 31, 2022 and 2021, respectively, in accordance with the disclosure requirements of ASC 820-10 for certain investments measured at net asset value per share (or its equivalent).
Fair Value Measurements
at December 31, 2022, Using
Quoted Prices
in ActiveSignificant
Markets forOtherSignificant
IdenticalObservableUnobservable
AssetsInputsInputs
(Level 1)(Level 2)(Level 3)Total
Mutual funds$213,471,661 $— $— $213,471,661 
Bunge Limited common shares12,841,596 — — 12,841,596 
Common stock7,628,739   7,628,739 
Total investments in the fair value hierarchy
233,941,996 — — 233,941,996 
Collective trust funds measured at net asset value (1)
— — — 155,116,396
Total investments, at fair value $233,941,996 $— $— $389,058,392 
Fair Value Measurements
at December 31, 2021, Using
Quoted Prices
in ActiveSignificant
Markets forOtherSignificant
IdenticalObservableUnobservable
AssetsInputsInputs
(Level 1)(Level 2)(Level 3)Total
Mutual funds$453,498,094 $— $— $453,498,094 
Bunge Limited common shares12,001,708 — — 12,001,708 
Common stock10,181,371 — — 10,181,371 
Total investments in the fair value hierarchy
475,681,173 — — 475,681,173 
Collective trust funds measured at net asset value (1)
— — — 7,598,145 
Total investments, at fair value$475,681,173 $— $— $483,279,318 
(1)    In accordance with ASC Subtopic 820-10, certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the Statements of Net Assets Available for Benefits.                     
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BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021
10.    INVESTMENTS MEASURED USING THE NET ASSET VALUE PER SHARE PRACTICAL EXPEDIENT
The following table summarizes investments held by the Trust for which fair value is measured using the net asset value per share practical expedient as of December 31, 2022 and 2021. There are no participant redemption restrictions for these investments; the redemption notice period is applicable only to the Plan.


Fair Value at December 31,Unfunded Commitments at December 31,
Investment Type
2022
2021
2022
2021
Redemption FrequencyRedemption Notice Period
Collective trust - MIPII fund$10,440,775 $7,598,145 $— $— Daily
Daily1
Collective trust funds$144,675,621 $— $— $— DailyDaily

(1) Withdrawals made on the collective trust can be initiated daily. Plan Sponsor terminations of the contracts can be initiated daily. Disbursements of the funds for Plan Sponsor terminations will be provided as soon as practicable within twelve months following written notice.

11.    DIFFERENCES BETWEEN FINANCIAL STATEMENTS AND FORM 5500
The following is a reconciliation of net assets available for benefits per the financial statements to Form 5500 as of December 31, 2022 and 2021:
20222021
Net assets available for benefits per the financial statements$3,714,867 $4,707,606 
Adjustment from contract value to fair value for fully benefit-responsive investment contracts(2,968)
Net assets available for benefits per Form 5500$3,711,899 $4,707,609 

The following is a reconciliation of net increase in net assets available for benefits per the financial statements to the Form 5500 for the years ended December 31, 2022 and 2021:

20222021
Net increase in net assets available for benefits per the financial statements$(992,739)$472,154 
Change in adjustment from contract value to fair value for fully benefit-responsive investment contracts(2,971)(10)
Net increase in net assets available for benefits per the Form 5500$(995,710)$472,144 



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BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021




EIN: 13-4977260 Plan Number: 219
Schedule H, Line 4a - Schedule of Delinquent Participant Contributions
As of December 31, 2022




Participant Contributions Transferred Late to the PlanTotal that Constitute Nonexempt Prohibited Transactions
YearCheck Here if Late Participant Loan Repayments are included:Contributions Not CorrectedContributions Corrected Outside VFCPContributions Pending Correction in VFCPTotal Fully Corrected Under VFCP
2022
ý
$121,711 $— $— $— 
-11-


BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021




EIN: 13-4977260 Plan Number: 219
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
As of December 31, 2022



(A)(B)
Identity of issue, borrower, lessor, or similar party
(C)
Description of investment including maturity date, rate of interest, collateral, par, or maturity value
(E)
Current Value
*Participant LoansParticipant Loans$124,092 
*Interest Held in Master TrustVarious (includes Registered Investment Companies, Self directed Brokerage, Collective Trust, etc.)3,590,700 
TOTAL$3,714,792 

*Investment with party-in-interest to the Plan
-12-


BUNGE SAVINGS PLAN - SUPPLEMENT A
NOTES TO FINANCIAL STATEMENTS
AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the plan administrator of the Bunge Savings Plan – Supplement A has duly caused this Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Bunge Savings Plan – Supplement A
Date: June 21, 2023
By:
/s/ Lisa Ware-Alexander
Lisa Ware-Alexander
Plan Administrator




-13-
EX-23.1 2 ex-231bspxsupplementa2022.htm EX-23.1 Document

Exhibit 23.1




Consent of Independent Registered Public Accounting Firm

We consent to incorporation by reference in the Registration Statement No. 333-130651 on Form S-8 of our report dated June 21, 2023, appearing in this Annual Report on Form 11-K of the Bunge Savings Plan - Supplement A for the year ended December 31, 2022.


/s/ Armanino LLP

St. Louis, Missouri
June 21, 2023