Accounting flags

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

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

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

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

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

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

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

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

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

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

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

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

New this year: F-2

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

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

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”)

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

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

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

New this year: Evaluation of audit evidence pertaining to the existence and rights to the digital assets (“As discussed in Notes 2(d), (e) and (f) to the consolidated financial statements, the Company’s digital assets are comprised of crypto assets at fair value, crypto assets at cost, and USDC stablecoin. These assets are held through custodial arrangements with qualified third-party custodians and incl”); We evaluated the design and implementation; We obtained confirmation of the; We compared the Company’s; We obtained and assessed the. No longer listed: Revenue from Contracts with Customers; Description of Matter; Convertible Debenture and Related Warrants; Description of Matter. Same as last year: F-2

New this year: March 2, 2026. No longer listed: February 27, 2025. Same as last year: Minneapolis, Minnesota

New this year: Bitcoin Mining Revenue (“As described in Note 4 to the consolidated financial statements, the Company recorded $907 million of revenues during the year ended December 31, 2025, of which $839.2 million related to the Company providing bitcoin transaction verification services to the transaction requester, in addition to the ”); Existence of and Rights to Bitcoin Digital Assets (“As described in Notes 2 and 5 to the consolidated financial statements, the Company has investments in bitcoin digital assets. As disclosed by management, digital assets are controllable only by the possessor of both the unique public key and private key relating to the local or online digital walle”). No longer listed: F-2; Table of Contents; Revenue Recognition from Mining Operations; Assets Acquired and Liabilities Assumed in Business Combinations; Table of Contents. Same as last year: F-3

New this year: Impairment of spectrum assets (“As discussed in Notes 1 and 8 to the consolidated financial statements, the carrying value of the Company’s Regulatory Authorizations is $34.549 billion as of December 31, 2025, which includes spectrum assets. During the third quarter of 2025, management, assisted by a third party, performed a quant”). Same as last year: Sufficiency of audit evidence over revenue; F-3

New this year: Business Combinations – Valuation of intangible assets (“As described in Note 7 to the consolidated financial statements, the Company completed the acquisition of Informatica, Inc. during fiscal year 2026 for total net consideration of $9.6 billion. In connection with this acquisition, management recognized customer relationship and developed technology i”). No longer listed: Impairment of Strategic Investments. Same as last year: Revenue Recognition

New this year: Evaluation of the sufficiency of audit evidence over self-mining revenue; As discussed in Note 2 to the consolidated financial statements, the Company provides hash calculations to third-party pool operators. No longer listed: Digital Asset Self-Mining Revenue

New this year: Evaluation of the qualitative goodwill impairment indicator assessment; As described in Note 10 to the consolidated financial statements, the Company’s goodwill balance as of December 31, 2025 was; We identified the selection and evaluation of qualitative goodwill impairment indicators, or qualitative factors, for the (i) North. No longer listed: Statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or; Evaluation of the fair value of acquired plant and machinery assets; As described in Note 2 to the Consolidated Financial Statements, the Company completed the acquisition of WestRock Company on

New this year: Valuation of Acquired Customer Relationships Intangible Asset (“Description of As described in Note 2 to the consolidated financial statements, on December 1, 2025, the Company completed the acquisition of the remaining 55% interest in New Process Steel, L.P. for a purchase price of $229 million. The Company measured the assets and liabilities assumed at fair va”). Same as last year: Valuation of Goodwill; Addressed the; Matter in Our; Audit; Addressed the; Matter in Our; Audit

New this year: Divestiture of Purification and Filtration Business - Gain on Sale (“As described in Notes 1, 3, and 8 to the consolidated financial statements, on February 25, 2025, the Company entered into a Transaction Agreement to sell its Purification and Filtration business to Thermo Fisher Scientific Inc. ("Buyer"). On June 25, 2025, the Company and Buyer entered into an Amen”); Acquisition of Acera Surgical - Valuation of Developed Technology (“As described in Note 3 to the consolidated financial statements, on December 23, 2025, the Company acquired Acera Surgical (“Acera”) for total purchase consideration of $776 million, which included cash consideration of $696 million, net of cash acquired, and a future milestone payment of an additio”); The principal considerations for our determination that performing procedures relating to the valuation (“of developed technology acquired in the acquisition of Acera is a critical audit matter are (i) the significant judgment by management when developing the fair value estimate of the developed technology acquired; (ii) a high degree of auditor judgment, subjectivity, and effort in performing procedur”). No longer listed: Table of Contents. Same as last year: Revenue Recognition

New this year: F- 32 (“to the knowledge, skill, and ability of third-party specialists and their relationship to the Company, determination of necessary activities required to treat contaminated water, and the development of the significant assumptions utilized in the process. We compared water treatment unit cost estimat”). No longer listed: F- 31. Same as last year: Evaluation of asset retirement obligations for water treatment costs

New this year: The Company sponsors or manages investment funds, investment vehicles and accounts (“investment funds”) that have; In addition, the Company recognizes carried interest from investment funds based on cumulative fund performance to; III Investments held by the investment funds is a significant input into the determination of carried interest for each reporting; Performing audit procedures to evaluate the appropriateness of these inputs used by Management required a high; Our audit procedures related to the unobservable pricing inputs used by Management to estimate the fair values of Level; The Company’s products include the fixed-indexed annuity product, which contains equity indexed features that are; Management applies significant judgment in selecting assumptions used to estimate the value of embedded derivative; We identified the valuation of embedded derivative liabilities, and MRBs associated with the fixed-indexed annuity; Performing audit procedures to evaluate the judgments made and the reasonableness of assumptions and models used; Our audit procedures related to the valuation of embedded derivative liabilities and MRBs associated with the fixed-. Same as last year: Fair Value - Level III Investments

New this year: As of December 31, 2025, the Company’s US Pension Plan held approximately $2.2 billion in investments whose; These NAVs are generally determined by the US Pension Plan’s third-party administrators or fund managers and; Given a lack of a readily determinable value of these investments and the subjective nature of the valuation; Our audit procedures related to the determination of NAV associated with the Company’s US Pension Plan’s; December 31, 2025. This roll forward procedure included consideration of the Company’s transactions in; Goodwill - Packaging Solutions EMEA; The Company’s evaluation of goodwill for impairment involves the comparison of the fair value of each reporting unit; Changes to the assumptions and estimates may result in a significantly different estimate of the fair value of the; Our audit procedures related to forecasts of future revenues and operating margins, and the selection of the; PS EMEA by comparing the forecasts to (1) forecasted information in industry reports, market data, and; Business Combinations - Acquisition of DS Smith - Valuation of Customer Relationships and Lists - Refer; The Company completed the acquisition of DS Smith for $9.9 billion on January 31, 2025. The Company allocates; Smith included customer relationships and lists of $3.4 billion. Management estimated the fair value of the customer; Our audit procedures related to the forecasts of future revenues and operating margins, and the selection of the. No longer listed: Income taxes - Legal entity restructuring. Same as last year: Retirement Plans - Fair value of other investments

New this year: F-1 (“Description of the primary We evaluated the design and tested the operating effectiveness of certain internal controls over the digital assets process, including a control over the comparison of the Company’s records of digital assets”); Evaluation of audit evidence pertaining to the existence and control of the Company’s digital assets (“Description of the primary We evaluated the design and tested the operating effectiveness of certain internal controls over the digital assets process, including a control over the comparison of the Company’s records of digital assets”). No longer listed: Valuation of TMTG Earnout Shares

New this year: Auditing the Company's annual goodwill impairment tests for reporting units to which a material amount of; Addressed the Company’s goodwill impairment review process, including controls over management’s review of the; Matter in Our significant assumptions described above. For example, we tested controls over management’s review of; Audit EBITDA margin forecasts and the discounts rates used in the determination of the reporting units’ estimated; To test the reporting units' estimated fair values, our audit procedures included, among others, assessing the. No longer listed: Company’s quantitative impairment test involves estimating the fair value of each reporting unit using a; Auditing the Company's estimate of fair value for the Payroll Card reporting unit was complex and subjective; Interest Taxes Depreciation and Amortization (EBITDA) margin as well as the discount rate, which are; Matter in Our inclusive of the underlying data used by the Company in its development of these assumptions. We involved; Audit our valuation specialists to assist us in evaluating the Company’s estimated discount rate methodology and; The Company recorded intangible assets from these acquisitions, including customer and vendor relationships. Same as last year: Valuation of goodwill; Description of At December 31, 2025, the Company’s goodwill was $7.6 billion. As discussed in Note 2 to the consolidated; How We We obtained an understanding, evaluated the design and tested the operating effectiveness of controls over the; Valuation of acquired customer relationship intangible assets; Description of As discussed in Notes 2 and 7 to the consolidated financial statements, the Company completed the acquisition; Auditing the preliminary fair values of the Alpha customer relationships was complex and subjective due to the; How We We obtained an understanding, evaluated the design and tested the operating effectiveness of controls over the; Addressed the valuation of customer relationships, including controls over models to estimate the fair values of the above

New this year: Tab le of Cont ents (“Our audit procedures related to the application of specialized rules to account for the effects of cost-based rate regulation and the uncertainty of future decisions by the Commissions included the following, among others:”)

New this year: Fair value of acquired customer relationships intangible asset (“As discussed in Note 5 to the consolidated financial statements, the Company acquired the containerboard business of Greif, Inc. on September 2, 2025, for a total purchase consideration of $1.8 billion. In connection with the acquisition, the Company recorded intangible assets with an acquisition-da”). Same as last year: Evaluation of the value of the pension benefit obligation

New this year: Acquisition of Northwind Midstream - Valuation of Intangibles (“As described in Note 5 to the consolidated financial statements, on August 29, 2025, the Company completed the acquisition of 100 percent of Northwind Midstream for $2.4 billion in cash. Of the total assets acquired, $951 million relates to intangibles. The fair value of the identifiable intangible ”). No longer listed: T able of Contents; Goodwill Impairment Test - Crude Gathering Reporting Unit

New this year: Valuation of the Customer Relationship Intangible Asset Acquired in a Business Combination (“As described in Note 4 to the consolidated financial statements, during the year ended December 31, 2025, the Company completed the acquisition of Miller Electric Company (“Miller Electric”) for total consideration of approximately $876.8 million. The preliminary purchase price was allocated to asse”). Same as last year: Revenue Recognition from Construction Contracts

New this year: Valuation of Certain Identified Intangible Assets Related to the Acquisitions of Matterport, LLC and Domain Holdings Australia Pty Limited (“As discussed in Note 4 of the consolidated financial statements, during the year ended December 31, 2025, the Company completed the acquisitions of Matterport, LLC (“Matterport”) and Domain Holdings Australia Pty Limited (“Domain”) for an aggregate purchase price of approximately $3.9 billion. These”); F-3 (“To test the estimated fair value of the acquired intangible assets, we performed audit procedures that included, among others, evaluating the Company’s valuation methodologies used, evaluating the significant assumptions discussed above, and testing the completeness and accuracy of the underlying da”). Same as last year: Highly Automated Revenue Systems related to Subscription Revenue; F-2

New this year: Sufficiency of audit evidence over quantities of inventories (“As discussed in Note 4 to the consolidated financial statements, the Company held $7.6 billion of inventories as of December 31, 2025. The Company’s inventories are held across its refineries, renewable diesel plants, ethanol plants, and third-party locations.”); Fair value of certain long-lived assets (“As discussed in Note 1 to the consolidated financial statements, long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. A long-lived asset is not deemed recoverable if its carrying amount exce”). No longer listed: Assessment of gross unrecognized tax benefits

New this year: Index to Financial Statements (“entitlement; and (ii) evaluated that each sampled item utilized the appropriate standalone selling price in the allocation of the transaction price over the performance obligations.”). No longer listed: Divestitures – Goodwill allocation and underlying fair value assumptions. Same as last year: Evaluation of standalone selling prices of performance obligations

New this year: Acquisition of the Remaining Interest in The Taubman Realty Group (“On October 31, 2025, the Company completed its acquisition of the remaining 12% ownership interest in The Taubman Realty Group (TRG) for consideration of approximately $0.9 billion, as described in Note 4 of the consolidated financial statements. The Company accounted for this acquisition as a busin”). No longer listed: Evaluation of Investments in Unconsolidated Entities for Impairment. Same as last year: Evaluation of Investment Properties for Impairment

New this year: Assessment of the expected holding period for long-lived assets (“As discussed in Note 1 to the consolidated financial statements, the Company evaluates long-lived assets for impairment whenever events or changes in circumstances, including shortening the estimated holding periods of such assets, indicate that the carrying amount of these assets may not be recover”). No longer listed: Evaluation of the Fair Value of Acquired Land; Table of Contents

New this year: E-vapor Definite-Lived Intangible Assets Impairment Assessment (“As described in Notes 2 and 4 to the consolidated financial statements, the Company’s definite-lived intangible assets carrying value was $787 million as of December 31, 2025, and the carrying value associated with e-vapor definite-lived intangible assets was $60 million. Management reviews long-liv”). No longer listed: T able of Contents; E-Vapor Product Litigation; T able of Contents. Same as last year: Skoal Trademark Impairment Assessment; Goodwill Impairment Assessments - E-vapor Reporting Unit

New this year: Evaluation of audit evidence pertaining to the existence of and rights to digital assets (“As discussed in Notes 2 and 8 to the consolidated 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 arrangemen”); Evaluation of the sufficiency of audit evidence over Bitcoin mining revenue (“As discussed in Notes 2 and 8 to the consolidated financial statements, the Company recorded $186.9 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 excha”)

New this year: Valuation of the North America Consumer Products reporting unit (“As discussed in Notes 1 and 8 to the consolidated financial statements, the Company assesses goodwill and other intangible assets with indefinite lives at least annually, or more frequently if an event occurs or circumstances change that indicate the carrying value of a reporting unit may not be rec”). Same as last year: Evaluation of the sufficiency of audit evidence over royalty revenues and related contract assets and liabilities

New this year: Testing the source information underlying the determination of the discount rates and the mathematical accuracy of the valuation. o (“For acquired management contracts, evaluating the reasonableness of the methodology used, and developing a range of independent estimates and comparing those to the discount rates and a long-term growth rate selected by management. o”). Same as last year: F-2

New this year: Revenue Recognition for Certain Contracts with Customers for Products and Services (“As described in Note 1 to the consolidated financial statements, the Company’s net sales were $2.8 billion for the year ended December 31, 2025, a significant portion of which relates to certain contracts with customers for products and services. The Company derives revenue from two primary sources:”); Table o f Contents (“Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the revenue recognition process, including controls ”). No longer listed: Revenue Recognition for Certain Products and Services; Valuation of Certain Intangible Assets - Acquisitions of Fusus and Dedrone

New this year: F-3 (“As disclosed in Note 3 of the consolidated financial statements, the Company acquired the international business of GLP Capital Partners Limited and certain of its affiliates, excluding its operations in Greater China (“GCP International”) in 2025 for total consideration of $3,916.5 million. The tra”); Accounting for the acquisition of GCP International (“As disclosed in Note 3 of the consolidated financial statements, the Company acquired the international business of GLP Capital Partners Limited and certain of its affiliates, excluding its operations in Greater China (“GCP International”) in 2025 for total consideration of $3,916.5 million. The tra”). Same as last year: F-2; Valuation of underlying investments of equity method investments

New this year: Regulatory Accounting (“As discussed in Note 1 to the consolidated financial statements, certain of the Company’s consolidated subsidiaries are regulated by the Federal Energy Regulatory Commission (“FERC”) and apply accounting principles outlined in Accounting Standards Codification (“ASC”) Topic 980, Regulated Operations”). No longer listed: Pension Benefits Obligation

New this year: Valuation of Goodwill and Indefinite-Lived Intangibles (“As reflected in the Company’s consolidated financial statements, at January 3, 2026, the Company’s goodwill and indefinite-lived intangible assets, consisting of trade names, totaled $7.3 billion and $2.3 billion, respectively. As discussed in Note A to the consolidated financial statements, goodwil”). No longer listed: Centredale Site Environmental Accrual

New this year: Goodwill - Impairment Assessment (“As described in Notes 1 and 5 to the consolidated financial statements, the Company's consolidated goodwill balance was $ 3,538.1 million as of December 31, 2025. Management performs a goodwill impairment test annually in the fourth quarter, or more frequently if events or circumstances indicate tha”). No longer listed: Income Taxes - Completeness of Uncertain Tax Positions

New this year: Revenue Recognition - Liquids Commodity Sales (“As described in Note A to the consolidated financial statements, the Company records revenue from liquids commodity sales when the commodity is delivered to the customer as this represents the point in time when control of the product is transferred to the customer. Revenue is recorded based on the ”). No longer listed: Acquisition of EnLink Midstream, LLC - Valuation of Pipelines, Rights-of-Way and Processing Plants. Same as last year: Tulsa, Oklahoma; February 24, 2026

New this year: Global Distribution and Value-Added Services, Global Specialty Products and Global Technology segments during; Company estimated the fair value of identifiable intangible assets using the relief-from-royalty method and the; We identified the revenue growth rates for certain periods and the discount rates used in estimating the fair value of; Utilizing specialists with skill and knowledge in valuation to evaluate the reasonableness of the discount. No longer listed: We identified the revenue growth rates for certain periods used in the determination of the fair value of the acquired; Auditing these considerations involved especially subjective and challenging auditor judgement due to the nature. Same as last year: Business Acquisition - Valuation of Acquired Intangible Assets; As described in Notes 1 and 5 of the consolidated financial statements, the Company acquired entities within the; Evaluating the reasonableness of the revenue growth rates used in estimating the fair value of certain trade

New this year: Revenue Recognition (“As disclosed in the consolidated statements of operations, the Company's net sales were $5.2 billion for the year ended December 31, 2025. As described in Note 15 to the consolidated financial statements, the Company recognizes revenue for module sales at a point in time following the transfer of co”). No longer listed: Revenue Recognition - Modules Segment

New this year: Evaluation of income tax positions related to certain transactions (“As discussed in Note 17 to the consolidated financial statements, the Company’s provision for income taxes for the year ended December 31, 2025 was $265 million. The Company has consolidated deferred tax liabilities, net of $1,188 million (including a valuation allowance of $914 million) as of Decem”). No longer listed: Evaluation of the accounting for income taxes; Sufficiency of audit evidence over the Sale of the Worldpay Merchant Solutions business. Same as last year: Sufficiency of audit evidence over revenue

New this year: F-4 (“The Company’s determination of the fair value of their oil and gas properties, inclusive of acquired oil and natural gas properties, requires management to make significant estimates and apply a high level of judgement. In doing so, management has utilized the income valuation technique which incorp”); F-5 (“◦ Evaluating the reasonableness of significant assumptions used by management related to estimates of future oil, NGL and natural gas prices, reserve adjustment factors and the weighted average cost of capital rate”)

New this year: Acquisition of Hess - Valuation of Oil and Gas Properties (“As described in Note 29 to the consolidated financial statements, on July 18, 2025, the Company acquired Hess and recorded estimated fair values of the acquired properties, plant and equipment of approximately $73.5 billion, of which a significant portion relates to oil and gas properties. Oil and g”). Same as last year: The Impact of Proved Developed Crude Oil and Natural Gas Reserves on Upstream Property, Plant, and Equipment, Net

New this year: Table of contents (“KeyCorp’s loan and lease portfolio totaled $106.5 billion as of December 31, 2025 and the associated ALLL was $1.4 billion. As discussed in Note 1 and 4 of the financial statements, the ALLL represents management’s current estimate of lifetime credit losses inherent in the loan portfolio at the bala”). No longer listed: Goodwill Impairment Test of the Institutional Bank Reporting Unit. Same as last year: Allowance for Loan and Lease Losses (ALLL)

New this year: Valuation of Projected Benefit Obligation - U.S. Qualified Pension Plan (“As described in Note 16 to the consolidated financial statements, the Company’s projected benefit obligations for the U.S. pension plans was $1,818 million as of December 31, 2025, of which $1,738 million related to the U.S. qualified pension plan. The measurement of the Company’s pension benefit ob”). No longer listed: Valuation of Certain U.S. Defined Benefit Pension Plan Obligations

New this year: Annual and Interim Goodwill Impairment Tests - Skin Health Reporting Unit (“As described in Notes 2 and 5 to the consolidated financial statements, the Company’s consolidated goodwill balance was $3,122 million as of December 31, 2025, and the goodwill associated with the skin health reporting unit was $51 million. Goodwill is subject to impairment tests at least annually o”)

New this year: Discontinued Operations - Sale of the Fiber Business (“As described in Notes 1 and 3 to the consolidated financial statements, on March 13, 2025, the Company signed an agreement to sell its fiber solutions and small cell businesses (“Fiber Business”). Under the agreement, the Company will receive $8.5 billion in aggregate cash proceeds, subject to certa”). No longer listed: Quantitative Goodwill Impairment Test - Fiber Reporting Unit. Same as last year: Revenue Recognition - Site Rental Revenues

New this year: Acquisition of Paragon 28 - Valuation of a Certain Technology Intangible Asset (“As described in Note 9 to the consolidated financial statements, on April 21, 2025, the Company completed the acquisition of Paragon 28 and the fair value of consideration transferred was $1,276.5 million. Of the assets”). Same as last year: Tax Liabilities for Certain Unrecognized Tax Benefits

New this year: WRB Refining LP Acquisition (“As discussed in Note 5 to the financial statements, the Company entered into a definitive agreement to acquire the 50% equity interest in WRB Refining LP it did not already own from subsidiaries of Cenovus Energy Inc. The transaction closed on October 1, 2025 and was accounted for as a business comb”). No longer listed: Impairment assessment of WRB Refining LP, an equity method investment

New this year: Fair value of tradenames and customer relationships intangible assets acquired in The Interpublic Group of Companies, Inc. transaction (“As discussed in Note 5 to the consolidated financial statements, on November 26, 2025, the Company completed its merger with The Interpublic Group of Companies, Inc. (IPG), with IPG surviving as a wholly owned subsidiary of Omnicom Group Inc. (Omnicom), which was accounted for as a business combinat”); F-3 (“We identified the evaluation of the acquisition-date preliminary fair values of certain acquired tradenames and customer relationships intangible assets (intangible assets) as a critical audit matter. Subjective auditor judgment, including specialized skills and knowledge, were required to evaluate ”). Same as last year: Evaluation of the sufficiency of audit evidence over revenue recognition

New this year: Income Taxes - Identification and recognition of liabilities for Unrecognized Tax Benefits (“As described in Notes 2 and 18 to the consolidated financial statements, as of December 31, 2025, the Company has recorded liabilities of $239 million for unrecognized tax benefits. The Company operates in multiple jurisdictions throughout the world, and its tax returns are periodically audited or s”); Interim Goodwill Impairment Test - A Certain Reporting Unit within the Advanced Polymer Solutions (APS) Segment (“As described in Notes 2 and 9 to the consolidated financial statements, the Company’s goodwill balance was $708 million as of December 31, 2025. Goodwill is tested for impairment annually in the fourth quarter or whenever events or changes in circumstances indicate that the fair value of a reporting”). No longer listed: Taxation - Provisions for unrecognized tax benefits

New this year: Analysis of Real Estate Properties for Indicators of Impairment (“As described in Note 1 to the consolidated financial statements, the net carrying value of the Company’s real estate, net was $16.77 billion. On a continuous basis, management assesses whether there are indicators, including property operating performance, changes in anticipated holding period, and ”). No longer listed: Fair value estimate of net real estate assets acquired in the Merger with RPT Realty

New this year: Annual Goodwill Impairment Assessment - Robotics Reporting Unit (“As described in Notes B and N to the consolidated financial statements, the Company’s goodwill balance was $521.0 million as of December 31, 2025, and the goodwill associated with the Robotics reporting unit was $416.4 million. Management assesses goodwill for impairment at least annually in the fou”). Same as last year: Revenue Recognition - Certain Products Revenue

New this year: II-69 (“or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or dis”). No longer listed: II-68. Same as last year: Table of Contents Index to Financial Statements

New this year: Acquisition of Dynamic Systems - Valuation of Customer Relationships (“As described in Note 6 to the consolidated financial statements, on July 25, 2025, the Company completed the acquisition of Dynamic Systems. The acquisition resulted in $ 532.4 million of identifiable intangible assets being recorded, of which $ 355.0 million related to customer relationships. The f”). No longer listed: Acquisition of Cupertino Electric, Inc. - Valuation of Customer Relationships and Trade Name Intangible Assets

New this year: Annual Goodwill Impairment Test - Architectural Coatings Europe, Middle East and Africa Reporting Unit (“As described in Notes 1 and 6 to the consolidated financial statements, the Company’s consolidated goodwill balance was $6,149 million as of December 31, 2025, a portion of which relates to the goodwill for the Architectural Coatings Europe, Middle East and Africa (EMEA) reporting unit. Management t”). No longer listed: Loss from Discontinued Operations, Net of Tax Associated with the Sale of the U.S. and Canada Architectural Coatings Business

New this year: Valuation of certain intangible assets acquired in business combinations (“As described in Notes 2 and 3 to the consolidated financial statements, during 2025, the Company completed the acquisitions of TTTech Auto, Aviva Links and Kinara, Inc., for net considerations of $766 million, $248 million and $284 million, respectively. The fair value of identified intangible asset”). Same as last year: Revenue recognition – Variable consideration under the distributor incentive programs

New this year: Our audit procedures related to the valuation of Level 3 financial assets and Level 3 trading liabilities, borrowings, other secured (“borrowings, and securities sold under agreements to repurchase carried at fair value on a recurring basis and Level 3 loans held for sale included the following, among others:”)

New this year: Valuation of the Projected Benefit Obligation - Defined Benefit Pension Plans (“As described in Note J to the consolidated financial statements, the Company’s net projected benefit obligation for defined benefit pension plans was $1,008 million as of December 31, 2025. As disclosed by management, annually, as of December 31, management remeasures the defined benefit pension pla”). No longer listed: Acquisition of BWI Southeast - Valuation of Mineral Reserves

New this year: Income Taxes (“As disclosed in Note 9 to the consolidated financial statements, the Company is subject to income taxes in jurisdictions, both domestic and foreign, which affect the Company’s provision for income taxes. The Company earns a significant amount of its operating income in certain foreign jurisdictions ”). No longer listed: Goodwill impairment assessment

New this year: Table of Contents (“We identified the complexity of revenue processing and revenue recognition, including contract modifications, as a critical audit matter because of the increased extent of effort and involvement of professionals in our firm having expertise in information technology (IT) to identify, test, and evalu”); Goodwill - Certain reporting units (“The Company’s evaluation of goodwill for impairment involves the comparison of the estimated fair value of each reporting unit to its carrying value. The Company performed, on a quantitative basis, its annual test for goodwill impairment as of October 1, 2025. Subsequently, the Company identified a ”); Table of Contents (“economic and market conditions. This required a high degree of auditor judgment and an increased extent of effort, including the need to involve our fair value specialists, when performing audit procedures to evaluate the reasonableness of management’s estimates and assumptions related to revenue gr”). Same as last year: Revenue

New this year: Accounting for Income Taxes (“As described in Notes 1 and 14 to the consolidated financial statements, the Company recorded an income tax provision of $311 million for the year ended December 31, 2025, and has deferred tax assets of $3,929 million, deferred tax liabilities of $2,246 million and unrecognized tax benefits of $521 ”). No longer listed: Income Taxes - Unrecognized Tax Benefits and Taxes on Foreign Earnings

New this year: Business combination – Fair value of intangible assets (“As described in Note 2 to the consolidated financial statements, the Company acquired Discover Financial Services (Discover) on May 18, 2025. The Company accounted for this transaction as a business combination and recorded the assets acquired and liabilities assumed from Discover at their respectiv”). Same as last year: Allowance for credit losses – Credit Card

New this year: Goodwill - Grain Merchandising Reporting Unit (“The Company’s evaluation of goodwill for impairment involves the comparison of the fair value of each reporting unit to its carrying value. The Company’s determination of the estimated fair value of the Grain Merchandising Reporting Unit (“Grain Merchandising”) is based on both a discounted cash flo”); F-3. Same as last year: F-2

New this year: T a b l e o f C o n t e n t s (“How We Addressed the Matter in Our Audit We obtained an understanding of, evaluated the design, and tested the operating effectiveness of the Company’s controls over landfill development asset depletion expense. Our audit procedures included, among others, testing controls over the Company’s process”). Same as last year: Landfill Development Asset Depletion; Landfill Final Capping, Closure and Post-Closure Costs

New this year: Measurement of Uncertain Tax Positions (“The Company accounts for income taxes in accordance with ASC 740, Income Taxes. The Company operates in a multinational tax environment and is subject to a multitude of tax laws, regulations, and guidelines. Some transactions and the related impact to the income tax provision are judgmental, particu”). No longer listed: Measurement of Reserve for Unrecognized Income Tax Benefits

New this year: Goodwill (“The Company’s evaluation of goodwill for impairment involves the comparison of the fair value of each reporting unit to its carrying value. The Company’s estimate for each reporting unit is based on the present value of estimated future cash flows attributable to the respective reporting unit. This ”). Same as last year: Revenue

New this year: Valuation of Acquired Natural Gas and Oil Properties (“As described in Note 11 to the consolidated financial statements, on July 1, 2025, the Company completed the Olympus Energy Acquisition of certain natural gas and oil properties and related midstream assets. EQT accounted for the Olympus Energy Acquisition as a business combination under the acquisi”). No longer listed: Accounting for the new Midstream Joint Venture. Same as last year: Depreciation, depletion and amortization ('DD&A') of proved oil and natural gas properties

New this year: Southern California Wildfires Loss Contingencies - 2025 Eaton Fire (“As described in Note 12 to the consolidated financial statements, in January 2025, several wind-driven wildfires impacted portions of Southern California Edison Company’s (SCE) service area, causing loss of life, substantial damage to both residential and business properties, and service outages for”). No longer listed: Wildfire-Related Claims - 2017/2018 Wildfire/Mudslide Events. Same as last year: Accounting for the Effects of Rate Regulation; Table of C ontents

New this year: Acquisition-date fair value of acquired developed technology (“As discussed in Note 4 to the consolidated financial statements, on October 2, 2025, the Company acquired Deliveroo plc (Deliveroo) in a business combination for $3,724 million. The transaction was accounted for under the acquisition method of accounting, which requires the allocation of the fair va”). Same as last year: Evaluation of Insurance Reserves

New this year: Acquisitions - Valuation of contract-based Intangible assets (“As discussed in Notes 1 and 3 to the financial statements, the Company accounts for its business combinations using the acquisition method. On September 15, 2025, the Company acquired Eco Material Technologies, a leading supplier of supplementary cementitious materials for a total consideration, net”); Service revenues - Revenue recognition over time (“As discussed in Notes 1 and 2 to the financial statements, the Company recognizes revenue within its construction contract businesses over time as it performs its obligations. The percentage-of-completion method is used to recognize revenue when the outcome of a contract can be estimated reliably. T”). No longer listed: Service revenues - Revenue recognition for certain long-term contracts

New this year: Product Warranty Liability (“As of December 31, 2025, the Company's product warranty liability was $167.2 million. As discussed in Note 2 to the consolidated financial statements, the Company accrues for product warranty liabilities based on the estimated future costs to repair or replace products under warranty.”). No longer listed: Evaluation of the product warranty liability

New this year: Goodwill Impairment Assessment (“Management assesses goodwill at least annually as of October 1 for impairment, or more frequently if certain events or circumstances warrant. During the second quarter of 2025, certain organizational changes occurred that impacted the composition of all reporting units within the Precision and Scien”). No longer listed: Fair Value of Acquired Customer Relationship Intangible Asset

New this year: Accounting for the Provisional Valuation of Identifiable Intangible Assets in the Acquisition of LesserEvil, LLC (“As described in Note 2 to the consolidated financial statements, the Company completed the acquisition of LesserEvil, LLC (“LesserEvil”) on November 18, 2025 for consideration of $815.2 million. As of December 31, 2025, the purchase price that has been provisionally allocated to acquired intangible ”). Same as last year: Valuation of Accrued Liabilities for Trade Promotion Activities

New this year: Interim and Annual Goodwill Impairment Assessments - Certain Reporting Units in the Diversified Industrials and Healthcare & Water Technologies Segments (“As described in Notes 1 and 14 to the consolidated financial statements, as of December 31, 2025, the Company’s consolidated goodwill balance was $7.9 billion, the majority of which relates to certain reporting units in the Diversified Industrials and Healthcare & Water Technologies segments. Manage”); Tax-Free Determination of the Electronics Separation and Certain Internal Distributions (“As described in Notes 1 and 8 to the consolidated financial statements, on November 1, 2025, the Company completed the separation of its Electronics Business (the “Electronics Separation”) into an independent public company, Qnity Electronics, Inc. (“Qnity”), by way of the distribution to DuPont's s”). No longer listed: Goodwill impairment assessment - Protection reporting unit. Same as last year: F-4

New this year: Assessment of goodwill impairment for the Medicaid, Medicare, and Commercial reporting units (“As discussed in Notes 2 and 7 to the consolidated financial statements, the Company performs goodwill impairment testing for its reporting units on an annual basis during the fourth quarter or more frequently if impairment indicators exist. The Company estimates the fair value of the Medicaid, Medic”). Same as last year: Evaluation of the estimated medical claims liability; Evaluation of the estimated Affordable Care Act risk adjustment accruals

New this year: Valuation of intangible assets acquired in business combinations (“As disclosed in Note B to the consolidated financial statements, during 2025, the Company completed the acquisitions of Bolt Medical, Inc. and SoniVie Ltd. for purchase prices, net of cash acquired, of $782 million and $516 million, respectively.”)

New this year: Business acquisitions - valuation of acquired expiration lists (“As described in Note 3 to the consolidated financial statements, the Company completed 33 acquisitions during 2025 for total net consideration of $16,348 million. All the acquisitions have been accounted for using the acquisition method for recording business combinations. The excess of the purchase”). No longer listed: Accounting for business combinations

New this year: Investment in Wilmar Impairment Evaluation (“As explained in Notes 1 and 8 to the consolidated financial statements, the Company evaluates its equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable, recognizing an impairment loss when a dec”). Same as last year: Animal Nutrition Goodwill Impairment Evaluation

New this year: Valuation of Customer Relationships Intangible Asset in the Acquisition of Evident’s Inspection Technologies Division (“As discussed in Note 3 to the consolidated financial statements, on July 1, 2025, the Company acquired Evident’s Inspection Technologies division (“Inspection Technologies”). The transaction was accounted for under the acquisition method of accounting. The Company preliminarily determined the fair v”). Same as last year: Over Time Revenue Recognition for Long-Term Contracts

New this year: Description of As discussed in Note A to the Company’s consolidated financial statements, the Company recognizes; Auditing the allowances for rebates owed pursuant to the Medicaid Drug Rebate Program in the U.S. was; How We We obtained an understanding, evaluated the design and tested the operating effectiveness of controls; Addressed the over the Company’s revenue recognition process, including controls over management’s computation; Matter in Our and review of the allowances for Medicaid rebates. We tested the Company’s controls to assess the; Our audit procedures to test the allowances for rebates owed pursuant to the Medicaid Drug Rebate; Program in the U.S., included the following: we assessed the methodology used to determine the estimate; We also assessed the historical accuracy of the Company’s estimates of Medicaid rebates by comparing. No longer listed: F-1; Evaluating the fair value of the in-process research and development assets acquired in the Alpine Immune Sciences, Inc. acquisition. Same as last year: F-2

New this year: Valuation of Certain Acquired Intangible Assets (“As described in Note 2 of the consolidated financial statements, on October 31, 2025, the Company entered into a sale and purchase agreement ("Acquisition Agreement") to acquire Purge Rite Intermediate, LLC ("PurgeRite"). The transaction ("Acquisition") closed on December 4, 2025. Under the terms of”). Same as last year: Uncertain Tax Positions