HUBBHubbell Incorporated

We are subject to income taxes as well as non-income based taxes, in both the United States and numerous foreign jurisdictions. The determination of the Company’s worldwide provision for income taxes and other tax liabilities requires judgment and is based on diverse legislative and regulatory structures that exist in the various jurisdictions where the company Company operates. As a result of the The U.S. federal elections, there may also be changes in tax policy pursued by the new administration, Congress and the Treasury Department regularly consider modifications to corporate taxation, including adjustments to tax rates, deductive limitations, cross-border tax provisions, and administrative guidance. The nature and outcome of those potential changes is uncertain at this time. are uncertain. Although management believes its estimates are reasonable, the ultimate tax outcome may differ from the amounts recorded in the Company’s financial statements and may materially impact the Company’s financial results for the period when such determination is made. We are subject to ongoing tax audits in various jurisdictions. Tax authorities in many jurisdictions continue to intensify enforcement efforts and adopt new rules intended to counter perceived tax avoidance practices by multinational companies. These responses may disagree with certain positions we have taken include changes to transfer‑pricing standards, withholding tax rules, and assess additional taxes. We regularly assess the likely outcomes of these audits in order anti‑base‑erosion measures. Resulting disputes, assessments, or requirements to determine the appropriateness of revise our global tax arrangements could increase our tax provisions. However, there can be no assurance that obligations or compliance costs. While we will accurately predict the estimate tax provisions based on our assessment of ongoing audits, actual outcomes of these audits, may differ and the future outcomes of these audits could adversely affect impact our results of operations, results, financial condition and condition, or cash flows.

In connection with the December 2023 acquisition of Systems Control, On September 29, 2025, the Company entered into a Term Loan Agreement (the “Term "2025 Term Loan Agreement”) Agreement") with a syndicate of lenders under which and JPMorgan Chase Bank, N.A., as administrative agent. On October 1, 2025, the Company borrowed $600 million under the 2025 Term Loan Agreement (the "2025 Term Loan") on an unsecured basis. Borrowings under basis to finance a portion of the DMC Power purchase price. The 2025 Term Loan was made in a single borrowing and will be due and payable on September 29, 2028. The 2025 Term Loan bears interest based on the Term SOFR Rate (as defined in the 2025 Term Loan Agreement bore interest generally at either the adjusted term SOFR rate Agreement), plus an applicable margin (determined by a ratings interest addition based grid) or on Hubbell's credit ratings. The interest rate on the alternative base rate. The outstanding principal amount under the 2025 Term Loan Agreement as of December 31, 2025 was due and payable 4.99%. Hubbell also paid the lenders certain customary fees in full at maturity in December 2026. During connection with the fourth quarter of 2024, the Company repaid the remainder of the 2025 Term Loan and no balance was outstanding at December 31, 2024. Agreement.

Property, plant, and equipment values are stated at cost less accumulated depreciation. depreciation and are depreciated over their estimated useful lives. Maintenance and repair expenditures that do not significantly increase the life of an asset are charged to expense when incurred. Property, plant, and equipment placed in service prior to January 1, 1999 are depreciated over their estimated useful lives, principally, using accelerated methods. Leasehold improvements are amortized over the shorter of their economic lives or the lease term. Gains and losses arising on the disposal of property, plant and equipment are included in Operating income in the Consolidated Statement of Income.