Archer-Daniels-Midland Co

Archer-Daniels-Midland Company (the “Company”) is unable to file its quarterly report on Form 10-Q for the period ended September 30, 2024 (the “Form 10-Q”) within the prescribed time period without unreasonable effort and expense. As previously disclosed in the Company’s November 4, 2024 press release furnished as an exhibit to the Company’s Current Report on Form 8-K filed on November 5, 2024, the Board of Directors of the Company, after discussion with management of the Company and following the Company’s ongoing dialogue with the staff of the United States Securities and Exchange Commission, concluded that the Company will amend its fiscal year 2023 Form 10-K (the “FY2023 Form 10-K”) and Form 10-Qs for the first and second quarters of 2024 (collectively, the “Q1 and Q2 2024 Form 10-Qs”) to restate the segment information disclosure (Note 17 included in the FY2023 Form 10-K and Note 13 included in the Q1 and Q2 2024 Form 10-Qs) for each of the periods included in those filings, including fiscal years 2021, 2022 and 2023 in the FY2023 Form 10-K and each of the quarterly and year-to-date periods included in the Q1 and Q2 2024 Form 10-Qs (collectively, the “Prior Filings”). As previously disclosed in Note 17, Segment and Geographic Information , to the Company’s consolidated financial statements included in the FY2023 Form 10-K, the Company identified and corrected certain intersegment sales amounts that either (i) were not in accordance with prior disclosures about presenting such sales at amounts approximating market or (ii) included intrasegment sales (resulting from sales within the segment) and should have included exclusively intersegment sales (resulting from sales from one segment to another). In connection with the error corrections, the Company identified a material weakness in its internal control over financial reporting related to its accounting practices and procedures for intersegment sales

Archer-Daniels-Midland Company (the “Company”) is unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Annual Report”) within the prescribed time period without unreasonable effort and expense. The Company currently expects to file the Annual Report by March 15, 2024, within the extension period of fifteen calendar days permitted under Rule 12b-25 of the Securities Exchange Act of 1934, as amended. As previously disclosed, in response to the Company’s receipt of a voluntary document request by the Securities and Exchange Commission, the Company is conducting an investigation of certain accounting practices and procedures with respect to the Company’s Nutrition reporting segment, including as related to certain intersegment sales. Due to the investigation, the preparation of the Company’s financial statements to be included in the Annual Report as well as finalization of the assessment of internal control over financial reporting, require additional time to complete. The Company is working diligently to complete such processes. In connection with the investigation, at the time of this filing, the Company anticipates correcting certain intersegment sales reported in the segment and geographic information footnote to the Company’s consolidated financial statements that were not recorded at amounts approximating market. Because each such sale occurred between the Company’s reporting segments, the Company does not anticipate an impact to the Company’s consolidated balance sheets, statements of earnings, comprehensive income (loss), or cash flows. In addition, the Company anticipates reporting a material weakness in the Company’s internal control over financial reporting related to its accounting practices and procedures for intersegment sales. The Company is developing a plan to remediate this anticipated material weakness, to be described further in the Annual Report