Archer-Daniels-Midland Co (ADM) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that Archer-Daniels-Midland Co surfaced in its latest filing.

• U.S. soybean trade with China was disrupted by changes in and uncertainty relating to global trade and tariffs.2025
• ADM's assets and operations in the region affected by the Russia-Ukraine conflict are at increased risk of property damage, inventory loss, business disruption, and expropriation.
• The Black Sea region, a major exporter of wheat and corn, is experiencing supply disruption causing volatility in volumes, prices, and margins.
• Increased use of technology, including drones, has enhanced pirates' capabilities to identify and target vessels.
• Deferral of U.S. biofuel policy with respect to renewable volume obligations (RVO) created uncertainty impacting demand for soybean oil and other feedstocks.
• As of December 31, 2025, the three major credit rating agencies maintained the Company's credit ratings at investment grade levels with a negative outlook.December 31, 2025
• ADM is currently diversifying and scaling its carbon capture and storage (CCS) operations to capture and store greater amounts of CO2.
• The Company is currently upgrading its technology platforms, including certain ERP systems, with upgrades expected in phases over the next several years.
• ADM has recently refined its digital strategy, pivoting away from large global implementations to prioritize regional, more agile projects.