Hartford Creative Group (HFUS) 10-K: Business Changes Lead 12 November 2026 Filing Roundup

[No corresponding passage in the 2025 filing’s Business section.]

The Company also plans to develop overseas TikTok advertising campaigns for domestic Chinese customers seeking to reach international markets. Beginning in June 2025, the Company established a mini-drama content business that involves acquiring non-exclusive licenses of mini-dramas, performing in-house editing, and licensing the completed content to customers. Because the Company controls the license rights before they are transferred, is responsible for fulfilling the arrangement, and independently establishes pricing, it acts as the principal in these transactions and recognizes the related revenue on a gross basis.

[No corresponding passage in the 2025 filing’s Business section.]

Overview The Company is a media and marketing company. Following its exit from its legacy hospitality and early childhood education operations, the Company has, since January 2024, concentrated on two principal lines of business: (i) social media advertising and related marketing services in China, and (ii) a mini-drama content business, which includes a short-form drama streaming application launched in the United States. The Company conducts its advertising operations through operating subsidiaries in China and supports its short-form drama application with resources based in the United States.

10,158 509 (620) — (111) 10,047 Canada 997 45 (75) — (30) 967 Siren Retail 6 — (2) — (2) 4 Total North America 11,161 554 (697) — (143) 11,018 International: China 7,594 569 (154) — 415 8,009 Japan 1,809 87 (12) (1) 74 1,883 U.K. 378 44 (11) 113 146 524 All Other 71 7 (3) — 4 75 Siren Retail 5 — — — — 5 Total International 9,857 707 (180) 112 639 10,496 Total company-operated 21,018 1,261 (877) 112 496 21,514 (1) Includes 627 stores closed in the fourth quarter of fiscal 2025 as part of our “Back to Starbucks” restructuring plan. (2) Includes 113 licensed stores converted to company-operated stores in the first quarter of fiscal 2025 following the acquisition of 23.5 Degrees Topco Limited. Starbucks company-operated stores are typically located in high-traffic, high-visibility locations.

10,047 220 (293) — (73) 9,974 Canada 967 10 (52) — (42) 925 Siren Retail 4 — (1) — (1) 3 Total North America 11,018 230 (346) — (116) 10,902 International: China (1) 8,009 143 (163) (7,989) (8,009) — Japan 1,883 78 (16) — 62 1,945 U.K. 524 38 (79) — (41) 483 All Other 75 2 (13) — (11) 64 Siren Retail (1) 5 — — (2) (2) 3 Total International 10,496 261 (271) (7,991) (8,001) 2,495 Total company-operated 21,514 491 (617) (7,991) (8,117) 13,397 (1) Includes the transfer of 7,991 company-operated coffeehouses to licensed coffeehouses following the conversion of Starbucks retail operations in China to our licensed joint venture model in the third quarter of fiscal 2026. (2) Includes 266 and 250 coffeehouses closed in the year ended September 27, 2026, as part of our “Back to Starbucks” restructuring plans announced in the fourth quarters of fiscal 2025 and fiscal 2026, respectively. Starbucks company-operated coffeehouses are typically located in high-traffic, high-visibility locations.

6,777 238 (202) — 36 6,813 Canada 486 14 (20) — (6) 480 Total North America 7,263 252 (222) — 30 7,293 International: Korea 1,980 134 (37) — 97 2,077 Latin America 1,705 115 (7) — 108 1,813 U.K. 976 56 (19) (113) (76) 900 Turkey 722 45 (5) — 40 762 Taiwan 571 33 (12) — 21 592 Indonesia 603 8 (14) — (6) 597 Thailand 513 39 (2) — 37 550 Philippines 479 43 (2) — 41 520 All Other 4,369 276 (274) 1 3 4,372 Total International 11,918 749 (372) (112) 265 12,183 Total licensed 19,181 1,001 (594) (112) 295 19,476 (1) Includes 113 licensed stores converted to company-operated stores in the first quarter of fiscal 2025 following the acquisition of 23.5 Degrees Topco Limited. Other Revenues Other revenues primarily are recorded in our Channel Development segment and include sales of packaged coffee, tea, and ready-to-drink beverages to customers outside of our company-operated and licensed stores, as well as royalties received from Nestlé under the Global Coffee Alliance and other collaborative partnerships.

6,813 227 (236) — (9) 6,804 Canada 480 12 (22) — (10) 470 Total North America 7,293 239 (258) — (19) 7,274 International: China (1) — 437 (86) 7,989 8,340 8,340 Korea 2,077 164 (21) — 143 2,220 Latin America 1,813 136 (8) — 128 1,941 U.K. 900 60 (19) — 41 941 Turkey 762 51 (4) — 47 809 Taiwan 592 35 (8) — 27 619 Indonesia 597 3 (7) — (4) 593 Thailand 550 35 (4) — 31 581 Philippines 520 22 (2) — 20 540 All Other 4,372 229 (251) — (22) 4,350 Siren Retail (1) — — — 2 2 2 Total International 12,183 1,172 (410) 7,991 8,753 20,936 Total licensed 19,476 1,411 (668) 7,991 8,734 28,210 (1) Includes the transfer of 7,991 company-operated coffeehouses to licensed coffeehouses following the conversion of Starbucks retail operations in China to our licensed joint venture model in the third quarter of fiscal 2026. Product Supply The main raw material for our coffee products is coffee beans.

[No corresponding passage in the 2025 filing’s MD&A section.]

Divestiture of Starbucks Retail Operations in China In the first quarter of fiscal 2026, we announced that the Company entered into an agreement to form a joint venture with Boyu Capital to operate Starbucks retail in China (the “disposal group”), marking a significant milestone in the Company’s long-term strategy to unlock sustainable, disciplined growth in one of the Company’s critical growth markets. In the third quarter of fiscal 2026, the transaction closed, and under the terms of the agreement, Boyu Capital acquired a 60% stake in Starbucks China retail operations, while Starbucks retained a 40% ownership interest and continues to own and license the brand and intellectual property to the joint venture. The disposal group was deconsolidated from our financial statements and we transitioned from recording revenues and expenses of the disposal group to recording our share of income from the joint venture, recognized as income from equity investees under the equity method of accounting, and recording revenues related to product sales to, and royalty revenues from, the joint venture.

Our ability to add new stores is dependent on several variables, such as projected achievement of internal investment hurdles, the availability of acceptable sites or acquisition candidates, the alignment of acquirer/seller price expectations, the regulatory environment, local zoning ordinances, access to capital and availability of qualified personnel. [No corresponding passage in the 2025 filing.] During fiscal 2025, we continued our expansion in Latin America and the U.S. with the opening of 40 de novo stores (20 in Mexico, 14 in Guatemala, 4 in Honduras and 2 in El Salvador ) and the acquisition of 52 stores (48 in Latin America and 4 in the U.S.).

Our ability to add new stores is dependent on several variables, such as projected achievement of internal investment hurdles, the availability of acceptable sites or acquisition candidates, the alignment of price expectations, the regulatory environment, local zoning ordinances, access to capital and availability of qualified personnel. The most significant expansion of our store base during fiscal 2026 was the acquisition of SMG, which added 105 stores and is now reported as a standalone reportable segment. During fiscal 2026, we continued the expansion of our Latin America and U.S. operations with the opening of 48 de novo stores (20 in Mexico, 20 in Guatemala, 5 in Honduras, 2 in the U.S. and 1 in the Caribbean) and the acquisition of 85 stores (64 in Latin America and 21 in the U.S.).

[No corresponding passage in the 2025 filing’s Risk Factors section.]

The carrying value of our goodwill and indefinite-lived intangible assets combined was $573.2 million, or approximately 26% of our total assets, as of September 30, 2026. This includes $122.7 million of goodwill in our SMG reporting unit acquired in fiscal 2026, the estimated fair value of which exceeded its carrying value by 6.1% as of our most recent annual test. Adverse changes in SMG’s operating results or in market conditions could result in an impairment charge.

[No corresponding passage in the 2025 filing’s Risk Factors section.]

Our use of AI Technologies could inadvertently result in discriminatory or unfair outcomes, which could result in regulatory scrutiny, litigation or reputational harm. We have programs in place to detect, contain, and respond to cybersecurity incidents; however, our use of AI Technologies may heighten our exposure to cybersecurity risks, including potential cyber-attacks, data breaches or misuse of data. As AI Technologies evolve, potential cyber-attacks may become more frequent or sophisticated and we may not be able to anticipate, prevent or detect security incidents or cyber-attacks.

2025 2024 Net cash used in operating activities $ (458,645 ) $ (261,488 ) Net cash used in investing activities – – Net cash provided by (used in) financing activities $ 187,749 $ (304,080 ) Net cash used in operating activities Net cash used in operating activities was $458,645 for the year ended June 30, 2025, compared to net cash used in operating activities of $261,488 for the year ended June 30, 2024. The increase in the use of cash in operating activities was principally attributable to 1) the increase in our loss (after adjustments to reconcile net income (loss) to net cash used in operating activities) by $1,833,314, 2) decreased cash inflow from inventory of $801,929, 3) decreased cash inflow from tax payables by $221,909, 4) increased cash outflow from accounts payable and accounts payable to related party by $2,374,107, 5) increased cash outflow from deposit and prepayments and deposit and prepayments to related party by $695,346, which was partly offset by 1) increased cash inflow from accounts receivable and accounts receivable from related party by $2,485,250, 2) increased cash inflow from note receivable by $324,322, 3) increased cash inflow from accrued liabilities and other payables by $41,080, 4) increased cash inflow from deferred revenue by $2,871,000, and 5) decreased cash outflow on other receivables by $7,796. Net cash used in investing activities There was no cash provided by or used in investing activities for the years ended June 30, 2025 and 2024.

2026 2025 Net cash used in operating activities $ (316,594 ) $ (458,645 ) Net cash provided by investing activities 0 0 Net cash provided by financing activities $ 294,454 $ 187,749 Net cash used in operating activities Net cash used in operating activities was $316,594 for the year ended June 30, 2026, compared to $458,645 for the year ended June 30, 2025, representing a decrease in cash used in operating activities of $142,051. [No corresponding passage in the 2026 filing.] The decrease was primarily attributable to the lower net loss in fiscal 2026, partially offset by changes in working capital, including accounts payable, prepayments, deferred revenue and other operating assets and liabilities.

U.S. tariffs on imports from China, Taiwan, and other regions may increase our costs, disrupt our supply chain, and materially harm our business and financial results. [No corresponding passage in the 2025 filing.] Our business may be adversely affected by tariffs imposed by the United States on goods imported from China, Taiwan.

U.S. tariffs on imports from China, Taiwan, and other regions may increase our costs, disrupt our supply chain, and materially harm our business and financial results. We previously divested our mainland China operations and completed the wind-down of our Taiwan operations in 2026. We currently are concentrating our business development and sales efforts in the United States and Southeast Asia.

All obligations under the Financing Agreement are secured on a first-priority basis by security interests in substantially all assets of the Company and material subsidiaries of the Company, including its intellectual property, subject to certain exceptions, and is guaranteed by material subsidiaries of the Company, including foreign subsidiaries, subject to certain exceptions. The Financing Agreement contains customary covenants, including, without limitation, a financial covenant to maintain liquidity (cash, cash equivalents and investments) of at least $ 100.0 million if the Company’s market capitalization is above $ 1.5 billion, and negative covenants that, subject to certain exceptions, restrict indebtedness, liens, investments (including acquisitions), fundamental changes, asset sales and licensing transactions, dividends, modifications to material agreements, payment of subordinated indebtedness, distributions from certain parties, and other matters customarily restricted in such agreements. The Company is subject to restrictions on sales and licensing transactions with respect to certain core intellectual property, subject to certain exceptions, including certain transactions related to areas outside the United States, United Kingdom, European Union, Japan and China.

The security documents entered into in connection with the Existing Financing Agreement continue in effect and secure the obligations under the A&R Financing Agreement. The A&R Financing Agreement contains customary covenants, including, without limitation, a financial covenant requiring the Company and Arrowhead Madison Inc. to maintain unrestricted cash and cash equivalents in deposit and securities accounts in the United States subject to the Lenders’ first-priority security interest of at least $ 125.0 million at all times (reduced from the minimum of $ 150.0 million required under the Existing Financing Agreement), and negative covenants that, subject to certain exceptions, restrict indebtedness (including a basket permitting additional convertible F-49 indebtedness of up to the greater of $ 1.1 billion and 10.0 % of the Company’s market capitalization, subject to an overall cap of $ 2.5 billion inclusive of the Company’s outstanding $ 700.0 million of 0.00 % Convertible Senior Notes due 2032, whereas under the Existing Financing Agreement the Company had no further capacity), liens, investments including acquisitions, fundamental changes, asset sales and licensing transactions (which, unlike the Existing Financing Agreement, expressly permits the Company, without the consent of the Lenders, to out-license REDEMPLO® (plozasiran) outside the United States and to sell any priority review voucher, and which provides the Company greater flexibility as to the structure of transactions involving its pipeline products), dividends and share repurchases, modifications to and terminations of material agreements, payment of subordinated indebtedness, transactions with affiliates and other matters customarily restricted in such agreements. The A&R Financing Agreement also contains customary events of default after which loans under the Credit Facility may be due and payable immediately, including payment defaults, material inaccuracy of representations and warranties, covenant defaults, bankruptcy and insolvency proceedings, cross-defaults to certain other indebtedness, judgments against the Company and its subsidiaries, change of control, and cessation of business.

Please refer to the consolidated financial statements for further information related to these measures of segment performance. In addition, research and development and selling, general and administrative expenses are significant segment expenses regularly provided to the CEO with the following categories: Research and Development Year Ended September 30, 2025 2024 2023 (in thousands) Candidate costs $ 347,571 $ 259,280 $ 162,459 R&D discovery costs 66,788 74,150 55,586 Salaries 109,085 96,418 73,668 Facilities related 29,233 25,782 16,267 Total research and development expense, excluding non-cash expense $ 552,677 $ 455,630 $ 307,980 Stock compensation 32,582 33,586 34,332 Depreciation and amortization 21,900 16,654 10,876 Total research and development expense $ 607,159 $ 505,870 $ 353,188 General & Administrative Year Ended September 30, 2025 2024 2023 (in thousands) Salaries $ 31,916 $ 27,589 $ 22,999 Professional, outside services, and other 53,589 24,733 20,720 Facilities related 5,625 4,116 3,415 Total general and administrative expense, excluding non-cash expense $ 91,130 $ 56,438 $ 47,134 Stock compensation 30,785 40,382 43,798 Depreciation/amortization 2,028 1,941 1,617 Total general and administrative expense $ 123,943 $ 98,761 $ 92,549 F-39 NOTE 17. SUBSEQUENT EVENTS Novartis On August 29, 2025, the Company entered into an Exclusive License and Collaboration Agreement (the “Novartis Collaboration Agreement”) with Novartis Pharma AG (“Novartis”) for the co-development and commercialization of multiple preclinical programs in rare, genetic diseases.

Significant expense categories and amounts align with the information that is regularly provided to the CEO. F-47 Year Ended September 30, 2026 2025 2024 (in thousands) Revenue: Product revenue, net 6,603 — — Collaboration and license revenue 444,214 829,448 3,551 Revenue $ 450,817 $ 829,448 $ 3,551 Operating expenses: Cost of product revenue $ 1,799 $ — $ — Acquired Priority Review Voucher $ 215,000 $ — $ — Research and development expenses Candidate costs $ 443,216 $ 347,571 $ 259,280 Discovery costs 78,842 66,788 74,150 Salaries 130,234 109,085 96,418 Facilities related 31,068 29,233 25,782 Total research and development expense, excluding non-cash expense $ 683,360 $ 552,677 $ 455,630 Stock compensation 31,242 32,582 33,586 Depreciation and amortization 24,542 21,900 16,654 Total research and development expenses $ 739,144 $ 607,159 $ 505,870 Selling, general and administrative expenses Salaries $ 62,536 $ 31,916 $ 27,589 Professional, outside services, and other 92,584 53,589 24,733 Facilities related 8,115 5,625 4,116 Total selling, general and administrative expense, excluding non-cash expense $ 163,235 $ 91,130 $ 56,438 Stock compensation 36,904 30,785 40,382 Depreciation and amortization 1,906 2,028 1,941 Total selling, general and administrative expenses $ 202,045 $ 123,943 $ 98,761 Total operating expenses 1,157,988 731,102 604,631 Other income (expense): Interest income 57,864 37,289 22,720 Interest expense ( 93,708 ) ( 89,361 ) ( 32,352 ) Loss on equity method investment ( 3,881 ) — — Gain on Visirna’s sale of IPR&D assets 19,000 — — Other, net 3,981 5,259 ( 1,748 ) Total other expense $ ( 16,744 ) $ ( 46,813 ) $ ( 11,380 ) (Loss) income before income tax (benefit) expense and noncontrolling interest ( 723,915 ) 51,533 ( 612,460 ) Income tax (benefit) expense ( 6,781 ) 21,419 ( 2,767 ) Net (loss) income including noncontrolling interest ( 717,134 ) 30,114 ( 609,693 ) Net income (loss) attributable to noncontrolling interest, net of tax 7,072 31,745 ( 10,200 ) Net loss attributable to Arrowhead Pharmaceuticals, Inc. ( 724,206 ) ( 1,631 ) ( 599,493 ) F-48 NOTE 19. SUBSEQUENT EVENTS Change in Fiscal Year End On November 9, 2026, the Company’s Board of Directors approved a change in the Company’s fiscal year end from September 30 to December 31, effective as of January 1, 2027.

In certain EU member states, pharmaceutical products designated as orphan pharmaceutical products may be exempted or waived from having to provide certain clinical, cost-effectiveness and other economic data in connection with their filings for pricing/reimbursement approval. [No corresponding passage in the 2025 filing.] On October 27, 2025, the Council of the European Union approved a framework for compulsory licensing of crisis-relevant products (including medicinal products) in crisis situations.

23 In certain EU member states, pharmaceutical products designated as orphan pharmaceutical products may be exempted or waived from having to provide certain clinical, cost-effectiveness and other economic data in connection with their filings for pricing/reimbursement approval. Regulation (EU) 2025/2645 on compulsory licensing for crisis management, which entered into force in January 2026, permits the European Commission, as a measure of last resort following the activation of an EU crisis or emergency mode, to grant an EU-wide, non-exclusive and time-limited compulsory license for crisis-relevant products, including medicinal products, subject to reasonable remuneration of the rights holder. Data Privacy and Security Laws There are numerous U.S. federal, state, and local laws and regulations, as well as foreign legislation, in particular in the EU and UK, which regulate personal information, including how that information may be used, processed, and disclosed.

[No corresponding passage in the 2025 filing’s Risk Factors section.]

Upon classification as held for sale, the disposal group was measured at the lower of its carrying amount or its fair value less cost to sell. The major classes of assets and liabilities classified as held for sale as of August 31, 2026, which were included in our International segment, consisted of the following (in thousands): AUGUST 31, 2026 Accounts receivable, net $ 772 Inventories 58 Prepaid expenses 47 Property and equipment, net 72 Allocated goodwill 255 Right-of-use operating lease assets 120 Deferred tax assets 220 Other long-term assets 78 Valuation allowance on assets held for sale ( 218 ) Total assets held for sale $ 1,404 Accounts payable $ 5 Accrued liabilities 371 Deferred revenue 138 Customer deposits 370 Lease liabilities 120 Total liabilities held for sale $ 1,004 In connection with the initial held-for-sale classification, we recorded a pretax impairme nt loss of $ 0.2 million to write the disposal group down to its fair value less cost to sell. The estimated purchase price less costs to sell is $ 0.4 milli on.

[No corresponding passage in the 2025 filing’s Business section.]

Liquidity and Capital Resource Risks We may need additional capital in the future, and this capital may not be available to us on favorable terms or at all. We may need to raise additional funds through public or private debt offerings or equity financing in order to: • Develop new services, programs, or offerings • Take advantage of opportunities, including business acquisitions • Respond to competitive pressures Going forward, we will continue to incur costs necessary for the day-to-day operation and potential growth of the business and may use our available revolving line of credit facility and other financing alternatives, if necessary, for these expenditures. We obtained a credit agreement in March 2023 (the 2023 Credit Agreement) that expires in March 2028.

Over the past few years, our growth investment efforts have included the following:  Increased Investment in Content and Delivery Platforms – Over the past several years, we have significantly increased our investments in content and delivery platforms. [No corresponding passage in the 2025 filing.] In prior years we invested in significant revisions to our flagship The 7 Habits of Highly Effective People offering, which launched in early fiscal 2025, on new Leader in Me content, and for enhancements to our Impact Platform.

Over the past few years, our growth investment efforts have included the following: • Increased Investment in Content and Delivery Platforms – Over the past several years, we have substantially increased our investments in content and delivery platforms. In fiscal 2026, we significantly upgraded 6 Critical Practices for Leading a Team , a core offering that helps clients strengthen their frontline leadership, and launched Working with AI and Leading AI Adoption , which are new solutions that help leaders realize the transformative value of Artificial Intelligence for their organizations. We also created tailored versions of several core solutions to better serve our healthcare clients.

[No corresponding passage in the 2025 filing’s Risk Factors section.]

In addition, we have made, and expect to continue to make, significant investments in manufacturing capacity and supply commitments based on forecasted data center demand. If AI-related infrastructure demand does not develop as anticipated, if we are unable to deliver competitive cooling solutions on customer timelines, or if large customers with substantial engineering resources elect to develop proprietary thermal management capabilities, our growth in this segment could be materially adversely affected, we could incur excess capacity, inventory write-downs and asset impairments, and overall customer demand for our product offerings could decrease, which would have an adverse effect on our business, results of operations and financial condition. Our results of operations and continued growth rely on delivering differentiated solutions in key growth verticals, particularly through our direct channel sales.

However, the timing and conversion of backlog and orders are subject to numerous uncertainties and risks and are not necessarily indicative of the amount of revenue to be earned in the upcoming fiscal year. The following table summarizes backlog and orders by segment for the Systems and Services based businesses: Backlog Orders (in billions) September 30, 2025 Year-over-Year Change (1) Year Ended September 30, 2025 Year-over-Year Change (1) Americas $ 10.6 13 % $ 13.7 8 % EMEA 2.5 12 % 4.4 6 % APAC 1.8 17 % 2.6 3 % Total Building Solutions $ 14.9 13 % $ 20.7 7 % (1) Change is compared to September 30, 2024 (backlog) and the year ended September 30, 2024 (orders) and excludes the impact of acquisitions, dispositions and foreign currency. Remaining performance obligations were $22.7 billion at September 30, 2025.

However, the timing and conversion of backlog and orders are subject to numerous uncertainties and risks and are not necessarily indicative of the amount of revenue to be earned in the upcoming fiscal year. [No corresponding passage in the 2026 filing.] Management’s Discussion and Analysis of Financial Condition and Results of Operations for additional details on orders and backlog.

We seek to drive organizational improvement through a variety of actions, including restructuring and integration activities, digital transformation, strategic initiatives, business portfolio reviews, productivity initiatives, functionalization, incentive programs, training, executive management changes, and business and operating model assessments. The Company has committed to a multi-year restructuring plan to address stranded costs and further right-size its global operations as a result of previously announced portfolio optimization transactions. In addition, during fiscal year 2025, the Company realigned its organizational structure into three regional reporting segments as part of ongoing initiatives to drive simplification, accelerate growth, and better reflect its organizational and operational structure.

We seek to drive organizational improvement through a variety of actions, including restructuring and integration activities, digital transformation, strategic initiatives, business portfolio reviews, productivity initiatives, functionalization, incentive programs, training, executive management changes, and business and operating model assessments. The Company has committed to making increased capital expenditures in fiscal year 2027 intended to enhance capacity and meet growing demand, and continues to engage in a multi-year restructuring plan to address stranded costs and further right-size its global operations. Risks associated with these actions include delays in execution, additional unexpected costs, loss of customer relationships, realization of fewer than estimated productivity improvements, increased change fatigue, organizational strain and adverse effects on employee morale.

The table below presents our sales for the year ended September 30, 2025, attributed to the geographic regions based upon country of destination, and the percentage change from the same period in 2024 (in millions, except percentages). Year Ended September 30, 2025 Year Ended September 30, 2024 Year Ended September 30, 2024 North America $ 5,270 4 % 4 % Europe, Middle East and Africa 1,488 (1) % (3) % Asia Pacific 1,024 (5) % (4) % Latin America 560 (12) % (6) % Total Company Sales $ 8,342 1 % 1 % (1) Organic sales and organic sales growth exclude the effect of acquisitions, changes in currency exchange rates, and divestitures. See Supplemental Sales Information for information on these non-GAAP measures.

We attribute sales to the geographic regions based on the country of destination. The following is a reconciliation of reported sales to organic sales by geographic region (in millions): Year Ended September 30, 2026 Year Ended September 30, 2025 Reported Sales Less: Effect of Acquisitions Effect of Changes in Currency Organic Sales Reported Sales Divestitures Sales Excluding Divestitures North America $ 5,801 $ — $ 5 $ 5,796 $ 5,270 $ (66) $ 5,204 Europe, Middle East and Africa 1,603 — 73 1,530 1,488 (54) 1,434 Asia Pacific 1,108 — 10 1,098 1,024 (5) 1,019 Latin America 562 — 43 519 560 (3) 557 Other unallocated items (1) (85) — — (85) — — — Total Company Sales $ 8,989 $ — $ 131 $ 8,858 $ 8,342 $ (128) $ 8,214 (1) Represents estimated refunds to customers under the customer tariff refund program. Refer to Note 1 in the Consolidated Financial Statements for additional details on IEEPA tariffs.

Supplemental Segment Information Purchase accounting depreciation and amortization, and impairment, non-operating pension and postretirement benefit (credit) cost, and restructuring charges are not allocated to our operating segments because these costs are excluded from our measurement of each segment’s operating performance for internal purposes. [No corresponding passage in the 2025 filing.] In 2025, we updated the definition of our non-GAAP earnings measures to exclude net legacy asbestos and environmental charges.

Supplemental Segment Information Amortization of acquisition-related intangible assets, impairment of intangible assets, non-operating pension and postretirement benefit (credit) cost, and restructuring charges are not allocated to our operating segments because these costs are excluded from our measurement of each segment’s operating performance for internal purposes. If we were to allocate these costs, we would attribute them to each of our segments as follows (in millions): Year Ended September 30, 2026 2025 2024 Non-operating pension and postretirement benefit credit Intelligent Devices $ (2) $ (2) $ (7) Software & Control (2) (1) (7) Lifecycle Services (4) (2) (10) Amortization of acquisition-related intangible assets (1) Intelligent Devices $ 42 $ 37 $ 38 Software & Control 66 66 68 Lifecycle Services 12 38 38 Impairment of intangible assets Intelligent Devices $ — $ — $ — Software & Control — — — Lifecycle Services — (224) — Restructuring charges Intelligent Devices $ 9 $ (2) $ 44 Software & Control 8 (2) 33 Lifecycle Services 8 (1) 20 (1) Amortization of acquisition-related intangible assets does not include amortization for intangibles internally developed, which is included in segment operating earnings. For the years ended September 30, 2026, 2025, and 2024, the amortization expense for internally developed intangible amortization was $11 million, $11 million, and $11 million, respectively.

See Note 4 – Acquisitions to our Consolidated Financial Statements included in this Annual Report for more information. [No corresponding passage in the 2025 filing.] In May 2023, we completed the acquisition of the key manufacturing facilities, capabilities, technologies and other assets and certain specified liabilities of OMMIC SAS, a semiconductor manufacturer based in Limeil-Brévannes, France with expertise in wafer fabrication, epitaxial growth and MMIC processing and design.

See Note 4 – Acquisitions to our Consolidated Financial Statements included in this Annual Report for more information. In May 2026, we completed an investment in IQE plc (“Investee”), which included entering into a Subscription Agreement to purchase newly-issued ordinary shares of Investee (representing approximately 12% of Investee’s issued and outstanding ordinary shares on the date of issuance), for £30.0 million ($40.4 million), a five-year Convertible Loan Note Agreement with a principal balance of £15.0 million ($20.2 million), long-term supply agreements and rights to appoint two members to Investee’s board of directors. See Note 5 – Investments to our Consolidated Financial Statements included in this Annual Report for more information.

As of October 3, 2025, cash held by our indefinitely reinvested foreign subsidiaries was $5.2 million, which, along with cash generated from foreign operations, is expected to be used in the support of international growth and working capital requirements as well as the repayment of certain intercompany loans. On December 19, 2024, we exchanged approximately $288.8 million in aggregate principal amount of our 2026 Convertible Notes (as defined in Note 15 – Debt to our Consolidated Financial Statements included in this Annual Report) for approximately $257.7 million in aggregate principal amount of the 2029 Convertible Notes (as defined in Note 15 – Debt to our Consolidated Financial Statements included in this Annual Report) , 1,582,958 newly-issued shares of the Company’s common stock, issued at a fair value of $205.9 million, and $17.6 million in cash. We also issued approximately $86.6 million in aggregate principal amount of the 2029 Convertible Notes, and net proceeds, net of amounts paid associated with the exchange, totaled approximately $63.5 million and are expected to be used for general corporate purposes.

As of October 2, 2026, cash held by our indefinitely reinvested foreign subsidiaries was $6.5 million, which, along with cash generated from foreign operations, is expected to be used in the support of international growth and working capital requirements as well as the repayment of certain intercompany loans. [No corresponding passage in the 2026 filing.] 36 During the fiscal quarter ended October 2, 2026, the Stock Price Trigger (as defined in Note 15 – Debt to the Consolidated Financial Statements included in this Annual Report) was satisfied.

We have completed several acquisitions and divestitures to attempt to further align our businesses to our primary markets. Those recent transactions include: In March 2023, we completed the acquisition of Linearizer Technology, Inc. (“Linearizer”), a developer of modules and subsystems, including solid state amplifiers (“SSPAs”), microwave predistortion linearizers and microwave photonics based in Hamilton, New Jersey (the “Linearizer Acquisition”). We acquired Linearizer to further strengthen our component and subsystem design expertise in our target markets.

We have completed several acquisitions and an investment to attempt to further align our businesses to our primary markets. [No corresponding passage in the 2026 filing.] Those recent transactions include: In December 2023, we completed the acquisition of certain assets and specified liabilities of the RF business of Wolfspeed, Inc. (the “RF Business”).

Also, under the terms of the property management agreements, we receive construction supervision fees in connection with certain construction activities undertaken at the properties owned by the Managed Equity REITs based on a percentage of the cost of such construction. [No corresponding passage in the 2025 filing.] In connection with OPI’s voluntary chapter 11 petitions on October 30, 2025, we entered into a restructuring support agreement with OPI and certain of its lenders pursuant to which we have agreed to terms for new management agreements with OPI to take effect upon the effectiveness of OPI’s plan of reorganization.

Also, under the terms of the property management agreements, we receive construction supervision fees in connection with certain construction activities undertaken at the properties owned by the Managed Equity REITs based on a percentage of the cost of such construction. In connection with OPI’s emergence from chapter 11 bankruptcy protection on June 17, 2026, we entered into an amended and restated business management agreement and an amended and restated property management agreement with OPI, each with initial terms of five years and terminable without payment of a termination fee after the first two years. Under the amended and restated business management agreement, we are entitled to an annual fee of $14,000 during the first two years and we will be paid a 3.0% property management fee and a 5.0% construction supervision fee under the new property management agreement, consistent with the prior property management agreement.

As of September 30, 2025, the fair value of our assessed reporting units exceeded their carrying amount, subject to certain sensitivity for potential changes in key assumptions. [No corresponding passage in the 2025 filing.] We consider this estimate critical due to the subjectivity involved in forecasting future cash flows and selecting appropriate discount rates.

This evaluation included an assessment of macroeconomic and industry conditions, the reporting unit’s financial performance as compared with our expectations and changes in its managed assets and client relationships. We completed our qualitative assessment of potential goodwill impairment and determined that, as of September 30, 2026, it was more likely than not that the fair value of our assessed reporting unit was greater than its carrying amount and, accordingly, no further testing of goodwill was required and no impairment was recorded. We consider this estimate critical due to the subjectivity involved in forecasting future cash flows and selecting appropriate discount rates.