ADM Revises 3 Years of Sales Data, Takes Impairment Charge Amid Internal Investigation

• ADM shares rise after revising 3 years of internal unit sales figures in annual report; adjustments did not significantly impact earnings • Discloses $137M impairment charge related to animal nutrition unit • Puts plan in place to remediate "material weakness" in internal controls around measurement of certain intersegment sales • Current and former employees received federal subpoenas related to internal investigation • 2024 earnings guidance below 2023 estimates; plans $2B share buyback