Accounting flags

Inventory +41.8% vs revenue -3.1% (+44.9 pts)

New this year: F-3; Table of Contents (“• We independently calculated the fair value of Bitcoin and ETH using data from multiple reputable cryptocurrency exchanges and compared our valuation to the Company’s recorded amounts.”). No longer listed: F-2; We; We; We; We; We; Assets; We; We; We; We; We; We

“Management concluded that the Company's ICFR was not effective as of August 31, 2026 due to the continued existence of material weaknesses in internal control over financial reporting.”

Cash from operations $11.1B vs net income $13.6B (FY ending 2026-09-27)

Inventory +32.4% vs revenue -2.6% (+35.0 pts)

Inventory +154.3% vs revenue +15.1% (+139.2 pts)

8-K item 4.01 (change in certifying accountant) filed 2026-10-30

Inventory +58.4% vs revenue +20.6% (+37.7 pts)

New this year: U.S. Income Tax Valuation Allowance (“The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. As explained in Note 1, the Company records the effects of the Global Intangible Low-Taxed Income (“GILTI”) or, as applicable, Net Controlled Foreign Corporation Tes”). No longer listed: Uncertain Tax Positions

Receivables +343.9% vs revenue +256.3% (+87.5 pts)

New this year: Revenue Recognition (“As described in Note 1 to the consolidated financial statements, revenue is primarily recognized at a point in time when control of the promised goods is transferred to customers at an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods. Contracts”). No longer listed: Accounting for the U.S. CHIPS Act Funding Agreements

Receivables +23.6% vs revenue +10.1% (+13.5 pts)

Inventory +29.6% vs revenue +0.4% (+29.1 pts)

8-K item 4.01 (change in certifying accountant) filed 2026-09-28

New this year: Convertible Debt Transactions (“As described in Note 10 to the consolidated financial statements, during the year ended June 30, 2026, the Company issued approximately $187.1 million of convertible notes. The notes were issued in exchange for Solana (“SOL”) digital assets, bear contractual interest at rates ranging from 1% to 2%, ”)

New this year: ACQUISITION OF CYBERARK SOFTWARE LTD. (“CYBERARK”) - VALUATION OF PLATFORM RENEWALS (“Description As disclosed in Notes 1 and 8 to the consolidated financial statements, on February 11, 2026, the Company completed the acquisition of CyberArk for total purchase consideration of $21.1 billion. The Company accounted for the acquisition as a business combination. In connection with this ”). No longer listed: VALUATION OF CONTINGENT CONSIDERATION LIABILITY IN CONNECTION WITH THE ACQUISITION OF IBM QRADAR ASSETS. Same as last year: REVENUE RECOGNITION

Inventory +80.0% vs revenue +11.8% (+68.2 pts)

Receivables +177.9% vs revenue +77.8% (+100.1 pts)

Cash from operations −$6.8B vs net income $2.2B (FY ending 2026-06-30)

Inventory +175.5% vs revenue +77.8% (+97.7 pts)

“We have concluded that our internal control over financial reporting was not effective as of June 30, 2026 due to the existence of a material weakness in such controls, and we have also concluded that our disclosure controls and procedures were not effective as of June 30, 2026 due to material weakness in our internal control over financial reporting, as described in Part II, Item 9A, “Controls and Procedures” of this Annual Report.”

Receivables +340.8% vs revenue +175.3% (+165.5 pts)

New this year: Sufficiency of audit evidence over revenue, net (“As discussed in Note 1 to the consolidated financial statements, substantially all of the Company’s revenue is derived from the sale of tangible products for which the performance obligations are satisfied at a point in time, generally upon delivery in accordance with the shipping terms of the arran”). No longer listed: Assessment of variable consideration for sales to resellers

8-K item 4.01 (change in certifying accountant) filed 2026-08-17

NT 10-Q filed 2026-08-17: the company said its 10-Q would be late

Cash from operations $3.9B vs net income $9.4B (FY ending 2026-07-03)

Receivables +39.3% vs revenue +22.5% (+16.8 pts)

Cash from operations $79.5M vs net income $805.0M (FY ending 2026-06-30)

Inventory +79.5% vs revenue +22.5% (+57.0 pts)

8-K item 4.01 (change in certifying accountant) filed 2026-08-14

New this year: Goodwill Impairment Assessment - Global Rigid Packaging Solutions Reporting Unit (“As described in Notes 2 and 10 to the consolidated financial statements, the Company’s goodwill balance was $12,075 million as of June 30, 2026, of which $6,056 million was associated with the Global Rigid Packaging Solutions reporting unit. Management conducts an impairment test as of April 1 of ea”). No longer listed: Acquisition of Berry Global Group, Inc. - Valuation of Customer Relationships

Receivables +58.1% vs revenue +26.0% (+32.0 pts)

Cash from operations $5.9B vs net income $7.3B (FY ending 2026-06-28)

New this year: Tab le o f Content s (“As discussed in Notes 2, 4, and 19 to the consolidated financial statements, the Company recorded $23,232,690 thousand in revenue for the year ended June 28, 2026. The Company generates revenue by designing, manufacturing, refurbishing, and servicing semiconductor processing equipment used in the fa”); Evaluation of sufficiency of audit evidence over revenue (“As discussed in Notes 2, 4, and 19 to the consolidated financial statements, the Company recorded $23,232,690 thousand in revenue for the year ended June 28, 2026. The Company generates revenue by designing, manufacturing, refurbishing, and servicing semiconductor processing equipment used in the fa”). No longer listed: Inventory - Valuation. Same as last year: Lam Research Corporation 2026 10-K 71

Receivables +27.6% vs revenue +11.7% (+15.9 pts)

Cash from operations $4.1B vs net income $4.8B (FY ending 2026-06-30)

Receivables +39.8% vs revenue +5.1% (+34.7 pts)

Receivables +774.2% vs revenue -1.1% (+775.3 pts)

Cash from operations $167.0M vs net income $655.0M (FY ending 2026-05-31)

Receivables +60.0% vs revenue +34.1% (+25.9 pts)

New this year: Digital Assets (“The Company recognizes Canton Coins, which are digital assets earned through its role as a Validator and Super Validator on the Global Synchronizer, the Canton Network’s decentralized interoperability infrastructure, as a component of Other non-current assets on the Consolidated Balance Sheets. The ”). No longer listed: Goodwill

8-K item 1.03 (bankruptcy or receivership) filed 2026-08-03: “On August 2, 2026 (the “Petition Date”), EchoStar Corporation’s (“EchoStar”) subsidiary Hughes Satellite Systems Corporation (“HSSC”) and certain of its wholly-owned subsidiaries, (i) EchoStar Orbital L.L.C., (ii) EchoStar Government Services L.L.C., (iii) EchoStar Satellite Services L.L.C., (iv) Hughes Communications, Inc., (v) Hughes Network Systems, LLC, (vi) HNS-India VSAT, Inc., (vii) HNS…”

Inventory +48.9% vs revenue +17.8% (+31.1 pts)

8-K item 4.01 (change in certifying accountant) filed 2026-07-27

Receivables +38.5% vs revenue +9.4% (+29.1 pts)

Receivables +25.7% vs revenue +0.2% (+25.5 pts)

Cash from operations $2.9B vs net income $3.1B (FY ending 2026-05-31)

New this year: May 31, 2026, were $14,122.4 million and $6,472.2 million, respectively. The impairment tests for these assets, which are. Same as last year: Valuation of goodwill and brand intangible assets; As discussed in Note 6 to the consolidated financial statements, the goodwill and brand intangible asset balances as of

8-K item 2.06 (material impairments) filed 2026-06-30 (2 in 2 years): “On June 26, 2026, Air Products and Chemicals, Inc. (the “Company”) determined that, as part of a review initiated by its Board of Directors and Chief Executive Officer, it would exit projects to develop a clean energy complex to produce low carbon hydrogen and ammonia in Louisiana (the “Louisiana Clean Energy Complex”), a facility to produce green hydrogen in Arizona (the “Casa Grande Project”)…”

8-K item 4.01 (change in certifying accountant) filed 2026-06-22

8-K item 4.01 (change in certifying accountant) filed 2026-06-12

New this year: Hostess brand trademark and Sweet Baked Snacks reporting unit interim impairment test (“As discussed in Note 1 and Note 7 of the consolidated financial statements, the Company’s goodwill and indefinite-lived trademarks are quantitatively tested for impairment at least annually on February 1, or when events or circumstances occur that would more likely than not reduce the fair value of ”); Quantitative impairment assessment of goodwill and indefinite-lived trademarks (“At April 30, 2026, the Company’s total goodwill and indefinite-lived trademarks were $5.2 billion and $2.6 billion, respectively. Goodwill is assigned to the Company’s reporting units as of the acquisition date. As discussed in Note 1 and Note 7 of the consolidated financial statements, the Company’”). No longer listed: Hostess brand indefinite-lived intangible trademark impairment evaluation; To test the estimated fair value of the Hostess brand indefinite-lived intangible trademark, we; Sweet Baked Snacks goodwill impairment evaluation; Auditing the Company’s quantitative impairment tests of the Sweet Baked Snacks reporting; Baked Snacks reporting unit, including controls over the significant assumptions mentioned; To test the estimated fair value of the Sweet Baked Snacks reporting unit, we performed; Company in its quantitative test. As it pertains to revenue growth, we compared the; We assessed the historical accuracy of management’s estimates. In addition, we involved; Specifically, we evaluated the components of the weighted average cost of capital

8-K item 2.06 (material impairments) filed 2026-05-29: “Consistent with the strategic asset sales plan outlined at BXP, Inc.’s September 2025 Investor Day, on May 27, 2026, a subsidiary of Boston Properties Limited Partnership (“BPLP”) entered into an agreement to sell certain property (the "Property") comprised of (1) the leasehold interest in the real property commonly known as Sumner Square, located at the corner of 17th and M Street, NW in…”

New this year: Goodwill Impairment Assessment (“At March 31, 2026, the Company's goodwill balance was $1,061.9 million on its consolidated balance sheet. As disclosed in Note 1 to the consolidated financial statements, goodwill is tested for impairment annually, or more frequently if events and circumstances indicate the fair value of a reporting”). No longer listed: Impairment of intangible assets that are subject to amortization; Impairment of goodwill for a certain reporting unit

New this year: As discussed in Note 1 and Note 2 to the consolidated financial statements, the Company has recorded a sales; Table of Contents F-3. No longer listed: F-2. Same as last year: Wholesale sales return liability

Receivables +29.7% vs revenue +7.1% (+22.6 pts)

Receivables +111.1% vs revenue +27.1% (+84.0 pts)

New this year: Accounting for the Sale of Instacash Advances (“As discussed in Note 3 to the consolidated financial statements, the Company originates and sells Instacash Advances pursuant to a Master Receivables Purchase Agreement. These advances are not loans and carry no contractual obligation for customer repayment. The Company accounts for the transfer of ”). No longer listed: Assessment of uncertain tax positions. Same as last year: Sufficiency of audit evidence over net revenues

Receivables +27.5% vs revenue +8.1% (+19.3 pts)

NT 10-Q filed 2026-05-15: the company said its 10-Q would be late (2 in 2 years)

NT 10-Q filed 2026-05-11: the company said its 10-Q would be late

8-K item 4.01 (change in certifying accountant) filed 2026-05-01

“Our conclusion was based on several contributing factors, including: (i) the fair value being less than the carrying value and the uncertainty surrounding Canopy’s stock price recovering in the near-term, (ii) Canopy recorded significant costs in its fourth quarter of fiscal 2023 results designed to align its Canadian cannabis operations and resources in response to continued unfavorable market tr”

8-K item 2.06 (material impairments) filed 2026-04-08: “On April 8, 2026, The Mosaic Company (the "Company") announced that it will begin the process of idling and demobilizing its Araxá Mining and Chemical Complex and idling related mining activities at the Patrocínio Complex in Brazil. (the "Araxá Idling"). The Company currently anticipates recording a pre-tax book impact of $350 to $400 million in the first quarter of 2026 with $275 to $300 million…”

“Based upon that evaluation, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were not effective as of December 31, 2025, due solely to the material weakness in our internal control over financial reporting related to technical accounting of Restricted Stock Units and the accounting of the PIPE Bitcoin Sale related to the Business Combination described below in “Changes in Internal Control over Financial Reporting.”

Receivables +25.5% vs revenue +7.7% (+17.8 pts)

“As previously disclosed, we had expressed substantial doubt about our ability to continue as a going concern due to recurring losses and negative operating cash flows.”

“Notwithstanding the ineffective disclosure controls and procedures as a result of the identified material weaknesses that are currently being remediated, our Chief Executive Officer and Interim Chief Financial Officer have concluded that the consolidated financial statements included in this Annual Report on Form 10-K present fairly, in all material respects, the Company's financial position, results of operations and cash flows in accordance with generally accepted accounting principles in the ”

8-K item 4.01 (change in certifying accountant) filed 2026-03-31

“A sustained working capital deficiency could raise substantial doubt about our ability to continue as a going concern, which would adversely affect investor confidence and could materially impact our access to capital and the trading price of our Common Stock.”

“Based on that evaluation, our Company’s principal executive officer and principal financial officer have concluded that our disclosure controls and procedures were not effective as of December 31, 2025, due to the material weaknesses in internal control over financial reporting described below.”

“These conditions raise substantial doubt about the Company’s ability to continue as a going concern.”

New this year: F-2

“Due to the existence of this material weakness, our management has concluded that, as of December 31, 2025, our internal control over financial reporting was not effective.”

“Based on the evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that these disclosure controls and procedures were not effective as of December 31, 2025 due to material weaknesses in our internal control over financial reporting as described below.”

Receivables +354.1% vs revenue +5.1% (+349.0 pts)

New this year: We performed site; We independently; We independently (“As described in Note 12, the Company issued $150 million 4.00% Convertible Senior Notes due 2030 (the “Notes”). The Notes include features such as conversion into ordinary shares and are governed by complex contractual terms under the indenture agreement.”); We confirmed the (“As described in Note 12, the Company issued $150 million 4.00% Convertible Senior Notes due 2030 (the “Notes”). The Notes include features such as conversion into ordinary shares and are governed by complex contractual terms under the indenture agreement.”); Valuation and Classification of Convertible Notes (“As described in Note 12, the Company issued $150 million 4.00% Convertible Senior Notes due 2030 (the “Notes”). The Notes include features such as conversion into ordinary shares and are governed by complex contractual terms under the indenture agreement.”); We obtained an understanding of and evaluated the key contractual terms by reading and analyzing the underwriting; We assessed management's conclusion regarding the appropriate accounting treatment, including whether the instrument; We tested key valuation assumptions used by management, including; We recalculated and independently estimated the initial recognition. No longer listed: We performed site visits at the Company’s facilities; We independently traced certain financial and performance; We independently confirmed with third-party mining pool operators; We confirmed the year-end digital asset balances directly; Goodwill valuation; We tested the effectiveness of controls over the fair value; With the assistance of fair value specialists, we evaluated. Same as last year: F-2; Revenue Recognition of Digital Asset Mining

New this year: Evaluation of audit evidence pertaining to the existence of and rights to digital assets (“As discussed in Notes 2 and 5 to the combined financial statements, the Company’s digital assets are either held in segregated custody accounts for the benefit of the Company, held in segregated custody accounts under the Company’s ownership and pledged as collateral under a borrowing arrangement or”); Evaluation of the sufficiency of audit evidence over Bitcoin mining revenue (“As discussed in Notes 2 and 5 to the combined financial statements, the Company recorded $185.2 million of Bitcoin mining revenue for the year ended December 31, 2025. The Company has entered into arrangements with mining pool operators to perform hash computations for the mining pools. In exchange ”). No longer listed: Evaluation of Accounting for and Disclosure of Cryptocurrency Mining Revenue Recognized; Evaluated the design of the Company’s information; Performed site visit of the facility where the; Company’s mining machines were located, which included an observation of the physical and environmental controls and mining machines; Evaluated management’s rationale for the; Evaluated and tested management’s rationale; Compared the Company’s wallet records of; Performed certain substantive analytical procedures; Evaluated management’s disclosures of its

Receivables +32.6% vs revenue +9.7% (+22.9 pts)

“Evaluation of Liquidity and the Company’s Ability to Continue as a Going Concern Critical Audit Matter Description As described in Note 13 to the financial statements, management evaluated whether conditions or events raised substantial doubt about the Company’s ability to continue as a going concern, which contemplates the continuity of operations, realization of assets, and settlement of liabili”

New this year: Evaluation of Liquidity and the Company’s Ability to Continue as a Going Concern (“As described in Note 13 to the financial statements, management evaluated whether conditions or events raised substantial doubt about the Company’s ability to continue as a going concern, which contemplates the continuity of operations, realization of assets, and settlement of liabilities in the nor”); F-1; Evaluated management’s cash flow projections for the twelve-month period following the issuance; Assessed the feasibility and probability of management’s plan to complete the proposed equity offering; Evaluated the existence of digital assets by ascertaining the fair value of such assets from observable; Evaluated the adequacy of the going concern disclosures in the financial statements and footnotes in accordance (“Crypto assets are generally accessible only by the possessor of the unique private key relating to the digital wallet or node in which the crypto assets are held. Accordingly, private keys must be safeguarded and secured in order to prevent an unauthorized party from accessing the crypto assets with”); Assessed management’s conclusion that substantial doubt is alleviated based on the totality of evidence (“Crypto assets are generally accessible only by the possessor of the unique private key relating to the digital wallet or node in which the crypto assets are held. Accordingly, private keys must be safeguarded and secured in order to prevent an unauthorized party from accessing the crypto assets with”); We consulted with subject matter experts regarding our planned audit response to address certain risks (“We applied auditor judgment in determining the nature and extent of audit evidence required, especially related to assessing the existence of the digital assets and whether the Company controls the digital assets. We evaluated the sufficiency and appropriateness of audit evidence obtained by assessi”); We noted the controls within the Company’s private key management process including controls related (“We applied auditor judgment in determining the nature and extent of audit evidence required, especially related to assessing the existence of the digital assets and whether the Company controls the digital assets. We evaluated the sufficiency and appropriateness of audit evidence obtained by assessi”); We tested the effectiveness of management’s reconciliation control of internal books and records (“We applied auditor judgment in determining the nature and extent of audit evidence required, especially related to assessing the existence of the digital assets and whether the Company controls the digital assets. We evaluated the sufficiency and appropriateness of audit evidence obtained by assessi”); We obtained evidence that management has control of the private keys required to access crypto assets (“We applied auditor judgment in determining the nature and extent of audit evidence required, especially related to assessing the existence of the digital assets and whether the Company controls the digital assets. We evaluated the sufficiency and appropriateness of audit evidence obtained by assessi”). Same as last year: Corporate Crypto Assets Held

Receivables +38.8% vs revenue +15.6% (+23.2 pts)

Inventory +77.4% vs revenue +15.6% (+61.8 pts)

New this year: Revenue Recognition (“The Company generates revenue from product revenue and subscription services revenue. For contracts that contain multiple performance obligations, the Company allocates the transaction price to each performance obligation based on a relative standalone selling price. The standalone selling price is ”). No longer listed: Revenue Recognition - Determination of Standalone Selling Prices

New this year: Valuation of warrants (“As discussed in Notes 2 and 11 to the consolidated financial statements, on October 7, 2025, the Company distributed warrants to purchase shares of common stock to the holders of the Company’s common stock and holders of the Company’s convertible notes. The warrants have been classified as equity. T”)

Receivables +1059.6% vs revenue +3.1% (+1056.5 pts)

New this year: Acquisitions - Foundation Building Materials (FBM) - Valuation of Customer Relationships (“The assets acquired and liabilities assumed in the Foundation Building Materials (“FBM”) transaction are recorded at their respective fair values at the date of the acquisition, based on management’s estimates and assumptions. Of the total assets acquired and liabilities assumed, the Company acquire”). Same as last year: Merchandise Inventory - Vendor Funds

Receivables +57.1% vs revenue -32.1% (+89.2 pts)

“In the past, we have identified conditions and events that raised substantial doubt about our ability to continue as a going concern and it is possible that we may identify conditions and events in the future that raise substantial doubt about our ability to continue as a going concern.”

Receivables +14.2% vs revenue +3.2% (+10.9 pts)

New this year: Sufficiency of audit evidence over certain merchandise inventories (“As discussed in Note 1 to the consolidated financial statements, the majority of merchandise inventories are stated at the lower of cost or market, as determined by the retail inventory method, which is based on a number of factors such as markups, markdowns, and inventory losses (or shrink). As the”). No longer listed: Fair values of customer relationships intangible assets; Estimation of store shrink. Same as last year: Table of Contents

Receivables +58.7% vs revenue +4.9% (+53.8 pts)

Inventory +17.9% vs revenue +4.9% (+13.1 pts)

NT 10-K filed 2026-03-17: the company said its 10-K would be late (3 in 2 years)

Receivables +147.7% vs revenue +48.7% (+99.0 pts)

Receivables +70.8% vs revenue +18.8% (+52.0 pts)

Inventory +55.4% vs revenue +18.8% (+36.6 pts)

New this year: Revenue Recognition for Certain Products and Services (“As described in Note 2 to the consolidated financial statements, the Company sells a wide portfolio of products and services to its customers. The Company’s contracts with customers often include the promise to transfer multiple goods and services to the customer. Distinct promises within a contract”). No longer listed: Revenue Recognition - Identification of Performance Obligations in Revenue Contracts

Receivables +112.6% vs revenue +42.1% (+70.5 pts)

Cash from operations $1.8B vs net income $2.7B (FY ending 2026-01-31)