Omnicom Group

“Following the completion of the Merger, our and IPG’s businesses may not be integrated successfully. It is possible that the continued integration process could result in the loss of our key employees, the loss of clients, service providers, vendors or other business counterparties, the disruption of our businesses, inconsistencies in standards, controls, procedures and policies, potential unknown liabilities and unforeseen expenses, or delays associated with the Merger.”

Annual report 2025A · The company itself

“Some of our clients, service providers, vendors, joint venture participants and other business counterparties may terminate or scale back their current or prospective business relationships with us after the Merger. If relationships with clients, service providers, vendors, joint venture participants and other business counterparties are adversely affected by the Merger, or we lose the benefits of existing contracts due to conflicts that may arise in connection with the Merger or other factors discussed above, our business, results of operations, financial condition and cash flows could be adversely affected.”

Annual report 2025A · The company itself

“The success of the Merger will depend, in part, on our ability to realize the cost savings, operating synergies and other benefits from combining our and IPG’s businesses. The anticipated cost savings, operating synergies and other benefits of the Merger may not be realized fully or at all, may take longer to realize than expected, or may result in other adverse effects that we do not currently foresee, in which case, among other things, the Merger may not be accretive to adjusted earnings per share and may not generate significant cash to return to stockholders via share repurchases or other means.”

Annual report 2025A · The company itself

“Following the Merger, the size and complexity of our Company has increased significantly. Our future success will depend, in part, upon our ability to manage this expanded business, which will pose substantial challenges for management, including challenges related to the management of a larger number of operations and geographies and associated increased costs and complexity.”

Annual report 2025A · The company itself

“The evaluation of potential acquisitions is based on various factors, including specialized know-how, reputation, geographic coverage, competitive position and service offerings of the target businesses, as well as our experience and judgment. Our acquisition strategy is focused on acquiring the expertise of an assembled workforce in order to continue to build upon the core capabilities of our various strategic business platforms and agency brands through the expansion of their geographic reach or their service capabilities to better serve our clients.”

Annual report 2025A · The company itself

“Our products and service offerings support client objectives across our primary focus areas: media, content, commerce, generative AI, and branding communications.”

Annual report 2025A · The company itself

“Media & Advertising includes strategic media planning, buying and optimization, data and analytics, creative services, and content production.”

Annual report 2025A · The company itself

“The year-over-year changes in worldwide revenue in 2025, compared to 2024, in our fundamental disciplines were: Media & Advertising increased $1,359.8 million, Precision Marketing increased $162.2 million, Public Relations decreased $27.2 million, Healthcare increased $42.8 million, Branding & Retail Commerce decreased $108.8 million, Experiential increased $143.2 million and Execution & Support increased $10.8 million.”

Annual report 2025A · The company itself

“% of Revenue $ % of Revenue $ Change % Constant Currency Growth Media & Advertising $ 8,656.1 55.2 % $ 8,101.8 55.2 % $ 554.3 8.7 % Precision Marketing 1,776.3 11.3 % 1,414.7 9.6 % 361.6 23.5 % Public Relations 1,640.8 10.5 % 1,540.3 10.5 % 100.5 5.1 % Healthcare 1,337.1 8.5 % 1,342.4 9.1 % (5.3) (1.3) % Branding & Retail Commerce 726.4 4.6 % 788.0 5.4 % (61.6) (9.5) % Experiential 719.5 4.6 % 635.3 4.3 % 84.2 12.7 % Execution & Support 832.9 5.3 % 869.7 5.9 % (36.8) (4.8) % Revenue $ 15,689.1 $ 14,692.2 $ 996.9 7.2 % 2025 v.”

Annual report 2025A · The company itself

“Additionally, we may be unable to hire or retain talent who are trained in artificial intelligence, machine learning and advanced algorithms, to keep up with the rapid and ongoing technological advancements in our industry.”

Annual report 2025A · The company itself

“Our industry is highly competitive and subject to rapid technological change. Our ability to remain competitive depends in part on our ability to anticipate, develop, acquire and integrate new technologies, platforms and capabilities, including data-driven solutions, automation, generative AI and agentic AI.”

Annual report 2025A · The company itself

“Our products and service offerings support client objectives across our primary focus areas: media, content, commerce, generative AI, and branding communications.”

Annual report 2025A · The company itself

“Government agencies and consumer groups directly or indirectly affect or attempt to affect the scope, content and manner of presentation of marketing and communications services, through regulation or other governmental action, which could affect our ability to meet our clients’ needs.”

Annual report 2025A · The company itself

“Our industry is highly competitive and subject to rapid technological change. Our ability to remain competitive depends in part on our ability to anticipate, develop, acquire and integrate new technologies, platforms and capabilities, including data-driven solutions, automation, generative AI and agentic AI.”

Annual report 2025A · The company itself

“Precision Marketing includes technology and digital transformation consulting, decision sciences, digital experience design, customer relationship management, and e-commerce and enterprise platforms.”

Annual report 2025A · The company itself

“Precision Marketing includes technology and digital transformation consulting, decision sciences, digital experience design, customer relationship management, and e-commerce and enterprise platforms.”

Annual report 2025A · The company itself

“The year-over-year changes in worldwide revenue in 2025, compared to 2024, in our fundamental disciplines were: Media & Advertising increased $1,359.8 million, Precision Marketing increased $162.2 million, Public Relations decreased $27.2 million, Healthcare increased $42.8 million, Branding & Retail Commerce decreased $108.8 million, Experiential increased $143.2 million and Execution & Support increased $10.8 million.”

Annual report 2025A · The company itself

“Healthcare includes corporate communications and advertising and media services to global healthcare and pharmaceutical companies.”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Branding & Retail Commerce includes brand and product consulting, strategy and research, and retail marketing.”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“Revenue by Industry Revenue by industry sector: Year Ended December 31, 2025 2024 2023 Pharmaceuticals and Healthcare 15 % 16 % 16 % Food and Beverage 15 % 15 % 15 % Auto 12 % 12 % 12 % Consumer Products 9 % 10 % 8 % Financial Services 8 % 7 % 8 % Retail 8 % 6 % 6 % Technology 8 % 8 % 8 % Travel and Entertainment 7 % 7 % 7 % Government 3 % 4 % 4 % Telecommunications 3 % 3 % 4 % Services 3 % 3 % 2 % Oil, Gas and Utilities 2 % 2 % 2 % Not-for-Profit 1 % 1 % 1 % Education 1 % 1 % 1 % Other 5 % 5 % 6 % Total 100 % 100 % 100 % 25 Operating Expenses The year-over-year change in operating expenses:”

Annual report 2025A · The company itself

“The year-over-year changes in worldwide revenue in 2025, compared to 2024, in our fundamental disciplines were: Media & Advertising increased $1,359.8 million, Precision Marketing increased $162.2 million, Public Relations decreased $27.2 million, Healthcare increased $42.8 million, Branding & Retail Commerce decreased $108.8 million, Experiential increased $143.2 million and Execution & Support increased $10.8 million.”

Annual report 2025A · The company itself

“As a service business, our ability to attract and retain key personnel is an important aspect of our competitiveness. If we are unable to attract and retain key personnel, our ability to provide our services in the manner clients have come to expect may be adversely affected, which could harm our reputation and result in a loss of clients.”

Annual report 2025A · The company itself

“Following the completion of the Merger, our and IPG’s businesses may not be integrated successfully. It is possible that the continued integration process could result in the loss of our key employees, the loss of clients, service providers, vendors or other business counterparties, the disruption of our businesses, inconsistencies in standards, controls, procedures and policies, potential unknown liabilities and unforeseen expenses, or delays associated with the Merger.”

Annual report 2025A · The company itself

“Government agencies and consumer groups directly or indirectly affect or attempt to affect the scope, content and manner of presentation of marketing and communications services, through regulation or other governmental action, which could affect our ability to meet our clients’ needs.”

Annual report 2025A · The company itself

“The use of personal information is critical to our advertising and marketing services. We, and third-party vendors acting on our behalf, process personal information relating to individuals, including consumers, clients, employees, and service providers. As a result, we are subject to a complex and evolving framework of federal, state, and foreign privacy, data protection, marketing, advertising, and internet tracking laws, regulations, industry standards, and contractual obligations.”

Annual report 2025A · The company itself

“The use of personal information is critical to our advertising and marketing services. We, and third-party vendors acting on our behalf, process personal information relating to individuals, including consumers, clients, employees, and service providers. As a result, we are subject to a complex and evolving framework of federal, state, and foreign privacy, data protection, marketing, advertising, and internet tracking laws, regulations, industry standards, and contractual obligations.”

Annual report 2025A · The company itself

“Regulators and legislators in the European Union, the United Kingdom, and the United States have increasingly focused on the use of online tracking technologies and the sharing of personal information with third parties for targeted or behavioral advertising. This has resulted in new or updated requirements under the General Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA), and other U.S. state privacy laws. If these laws or regulations are adopted, interpreted, or enforced in a manner that restricts our current practices, or if private market participants impose limitations on tracking technologies in response to privacy concerns, our digital services could become less effective, more costly to deliver, or subject to additional legal and operational constraints.”

Annual report 2025A · The company itself

“In addition, the effects of inflation on consumer budgets could result in the reduction of our clients’ spending plans on the marketing and communications services we provide.”

Annual report 2025A · The company itself

“Constant currency growth of $1,458.2, or 9.3%, primarily reflected increased client spending in Media & Advertising, led by our media business, as well as our Precision Marketing, Experiential and Healthcare disciplines compared to the prior year.”

Annual report 2025A · The company itself

“Constant currency growth of $1,062.4 million, or 7.2%, primarily reflected increased client spending in Media & Advertising, led by our media business, as well as Precision Marketing, Public Relations and Experiential disciplines compared to the prior year.”

Annual report 2025A · The company itself

“Third-party service costs for 2025 increased $765.1 million, or 22.8%, to $4,113.7 million, primarily as a result of revenue growth in our Media & Advertising and Experiential disciplines and the effects of including one month of IPG operations.”

Annual report 2025A · The company itself

“Evolving rules, regulations and industry standards governing AI may require us to spend significantly to modify, maintain, or align our business practices, solutions and services, the nature of which cannot be determined at this time and may be inconsistent from region to region.”

Annual report 2025A · The company itself

“Changes in the value of foreign currencies against the U.S. Dollar affect our results of operations and financial condition. For the most part, because the revenue and expense of our foreign operations are both denominated in the same local currency, the economic impact on operating margin is minimized.”

Annual report 2025A · The company itself

“Current or future geopolitical events, international hostilities or acts of terrorism could impact global economies through, among other things, disruption of business operations and demand for client services, disruption in the credit markets, heightened risk of cybersecurity attacks and disruptions to our information technology infrastructure, increased energy costs and labor and supply chain disruptions.”

Annual report 2025A · The company itself

“Current or future geopolitical events, international hostilities or acts of terrorism could impact global economies through, among other things, disruption of business operations and demand for client services, disruption in the credit markets, heightened risk of cybersecurity attacks and disruptions to our information technology infrastructure, increased energy costs and labor and supply chain disruptions.”

Annual report 2025A · The company itself

“Global public health crises or pandemics or other similar health crises could adversely impact our business, results of operations and financial condition. When a public health crisis arises, demand for certain of our services may be adversely affected by government measures, including restrictions on travel and business operations and quarantine and stay-at-home orders arising from the occurrence of a pandemic, or similar global public health crises.”

Annual report 2025A · The company itself

“As a percentage of revenue, occupancy and other costs increased year-over-year as higher office costs were only partially offset by rent expense.”

Annual report 2025A · The company itself

“Financial Performance Worldwide revenue in 2025 increased by $1.6 billion, or 10.1%, to $17.3 billion compared to $15.7 billion in 2024. Our performance benefited from one month of IPG operations recorded in the fourth quarter of 2025.”

Annual report 2025A · The company itself

“In Asia-Pacific, constant currency growth in 2025 of $94.8 million, or 5.1%, compared to 2024 was led by our Media & Advertising discipline, partially offset by underperformance in our Experiential and Precision Marketing disciplines. Our performance in the region also benefited from one month of IPG operations recorded in the fourth quarter of 2025.”

Annual report 2025A · The company itself

“Total revenue growth by geographic region was led by North America, which increased $942.0 million, or 10.9%, followed by Europe with an increase of $365.9 million, or 8.2%. Latin America increased $106.5 million, or 24.6%, the Middle East and Africa increased $90.0 million, or 28.2%, and Asia-Pacific increased $78.4 million, or 4.2%.”

Annual report 2025A · The company itself

“Financial Performance Worldwide revenue in 2025 increased by $1.6 billion, or 10.1%, to $17.3 billion compared to $15.7 billion in 2024. Our performance benefited from one month of IPG operations recorded in the fourth quarter of 2025.”

Annual report 2025A · The company itself

“In Europe, constant currency growth in 2025 of $196.2 million, or 4.4%, compared to the prior year was driven by strong performance in our Media & Advertising discipline, led by our media business. Our performance in the region also benefited from one month of IPG operations recorded in the fourth quarter of 2025.”

Annual report 2025A · The company itself

“Total revenue growth by geographic region was led by North America, which increased $942.0 million, or 10.9%, followed by Europe with an increase of $365.9 million, or 8.2%. Latin America increased $106.5 million, or 24.6%, the Middle East and Africa increased $90.0 million, or 28.2%, and Asia-Pacific increased $78.4 million, or 4.2%.”

Annual report 2025A · The company itself

“Financial Performance Worldwide revenue in 2025 increased by $1.6 billion, or 10.1%, to $17.3 billion compared to $15.7 billion in 2024. Our performance benefited from one month of IPG operations recorded in the fourth quarter of 2025.”

Annual report 2025A · The company itself

“In North America, constant currency growth of $951.2 million, or 11.0%, in 2025 compared to the prior year was driven by strong performance in the United States, particularly within the Media & Advertising discipline, led by our media business, as well as our Precision Marketing, Experiential, Healthcare and Execution & Support disciplines. Our performance in the region also benefited from one month of IPG operations recorded in the fourth quarter of 2025.”

Annual report 2025A · The company itself

“Total revenue growth by geographic region was led by North America, which increased $942.0 million, or 10.9%, followed by Europe with an increase of $365.9 million, or 8.2%. Latin America increased $106.5 million, or 24.6%, the Middle East and Africa increased $90.0 million, or 28.2%, and Asia-Pacific increased $78.4 million, or 4.2%.”

Annual report 2025A · The company itself

“In Latin America, constant currency growth in 2025 of $127.2 million, or 29.3%, compared to the prior year, was driven by a strong performance within the Media & Advertising discipline, led by our media business, and across all countries in the region. Our performance in the region also benefited from one month of IPG operations recorded in the fourth quarter of 2025.”

Annual report 2025A · The company itself

“Total revenue growth by geographic region was led by North America, which increased $942.0 million, or 10.9%, followed by Europe with an increase of $365.9 million, or 8.2%. Latin America increased $106.5 million, or 24.6%, the Middle East and Africa increased $90.0 million, or 28.2%, and Asia-Pacific increased $78.4 million, or 4.2%.”

Annual report 2025A · The company itself

“Our Public Relations discipline was helped by spending on the U.S. elections, and the Experiential discipline benefited from spending on the Summer Olympics.”

Annual report 2025A · The company itself

“Assuming exchange rates at January 30, 2026, remain unchanged, we expect the impact of changes in foreign exchange rates will be over a positive 2% for the full year of 2026.”

Annual report 2025A · The company itself