Labour regulation

“Demografisk utveckling, arbetslöshet, integration och det förändrade säkerhetsläget är alla exempel på externa faktorer som påverkar efterfrågan på AcadeMedias breda utbud av pedagogiska inriktningar. Vår verksamhets förutsättningar styrs också av den nationella skol- och utbildningspolitiken i de länder där vi verkar, samt av kommunernas ekonomi och prioriteringar.”

Annual report 2024A · The company itself

“För samtliga våra skolverksamheter krävs tillstånd från myndigheterna. Tillstånd ges tills vidare. I samtliga länder där AcadeMedia verkar styr omfattande regelverk den dagliga verksamheten och ansvariga myndigheter i respektive land kontrollerar att reglerna följs.”

Annual report 2024A · The company itself

“Politiska/regulatoriska risker och marknadsrisker Offentligt finansierade friskolor i Sverige och Norge har varit och är föremål för betydande granskningar från bland andra myndigheter och media. Offentligt finansierad verksamhet kan även vara föremål för politiska debatter. De styrande partierna kan beställa utredningar till grund för framtida lagstiftning. Eventuell framtida lagstiftning i Sverige, Norge, Tyskland eller Nederländerna som begränsar fristående utbildningsaktörers möjligheter till etablering, kostnadstäckning och/eller vinst, skulle kunna få en väsentligt negativ inverkan på koncernens möjlighet att bedriva sin verksamhet och därmed negativt påverka koncernens finansiella ställning och resultat.”

Annual report 2024A · The company itself

“Förskoleverksamheten har även påverkats negativt av att regleringar stärkts under ett antal år, bland annat kopplat till krav på bemanning och pedagognorm, samt justerad ersättning, vilket påverkat lönsamhet och därmed kassaflöde negativt.”

Annual report 2024A · The company itself

“Laws and regulations, including immigration, labor and employment laws and export controls, among others, can materially adversely affect the Company’s ability to recruit and retain a highly skilled, global workforce.”

Annual report 2025A · The company itself

“The Company is subject to complex and changing laws and regulations worldwide, which exposes the Company to potential liabilities, increased costs and other adverse effects on the Company’s business.”

Annual report 2025A · The company itself

“Regulatory and Compliance Matters Our businesses, as well as the financial services industry, generally are subject to extensive regulation, including periodic examinations and potential investigations by governmental agencies and self-regulatory organizations or exchanges in the U.S. and foreign jurisdictions in which we operate relating to, among other things, the management of our funds, antitrust laws, foreign investment review regimes, anti-money laundering laws, anti-bribery laws relating to foreign officials, tax laws and data privacy laws with respect to client and other information.”

Annual report 2025A · The company itself

“Our domestic and international insurance subsidiaries are subject to extensive regulatory oversight, including: restrictions and requirements related to licensing; capital, surplus and dividends; underwriting limitations; the ability to enter, exit and continue to operate in markets; statutory accounting and other disclosure requirements; the ability to provide, terminate or cancel certain coverages; premium rates, including regulatory ability to disapprove or reduce the premium rates companies may charge; trade and claims practices; product forms, including regulatory ability to disapprove new product filings; content of disclosures to consumers; type, amount and valuation of investments; assessments or other surcharges for guaranty funds and companies’ ability to recover assessments through premium increases; and market conduct and sales practices.”

Annual report 2025A · The company itself

“Legislation or other regulatory reform related to the insurance industry that increases the regulatory requirements imposed on us or that changes the way we are able to do business may significantly harm our business or results of operations.”

Annual report 2025A · The company itself

“Any actual or perceived failure to comply with these requirements may result in, among other things, revocation of required licenses or registrations, loss of approved status, private litigation, regulatory or governmental investigations, administrative enforcement actions, sanctions, civil and criminal liability, monetary penalties, and constraints on our ability to continue to operate. It is also possible that current or future laws or regulations could be interpreted or applied in a manner that would prohibit, alter, or impair our existing or planned products and services, or that could require costly, time-consuming, or otherwise burdensome compliance measures from us.”

Annual report 2025A · The company itself

“We are subject to a wide variety of local, state, federal, and international laws, regulations, licensing schemes, and industry standards in the United States and in other countries in which we operate.”

Annual report 2025A · The company itself

“For example, Borregaard has spent the last 12 years re-authorising our lignin-based biopolymers for use in animal feed within the EU, which was successfully achieved in February 2024. In this customer segment, we are now witnessing strong demand for non-synthetic sustainable binders due to new regulations, typically banning substances of concern such as formaldehyde.”

Annual report 2024A · The company itself

“Kraftig økte råvarekostnader og reguleringer er de viktigste forklaringsfaktorene for lavere salg og IG av nye boliger.”

Annual report 2024A · The company itself

“The One Big Beautiful Bill Act (OBBBA), passed in July 2025, includes requirements that may reduce the number of members eligible for state Medicaid Expansion programs by requiring work or community engagement by members and for state Medicaid agencies to redetermine member eligibility at more frequent intervals, along with adding a "Cost Sharing" or "Co-Pay" for certain medical services. These changes could have the effect of increasing the overall morbidity of the Medicaid Expansion population largely beginning in 2027, subject to state implementation plans.”

Annual report 2025A · The company itself

“The frequent enactment of, changes to, or interpretations of laws and regulations could, among other things: force us to restructure our relationships with providers within our network; require us to implement additional or different programs and systems; restrict revenue and enrollment growth; increase our healthcare and administrative costs; impose additional capital and surplus requirements; modify how we contract, pay and interact with brokers, enact additional payment integrity initiatives that have the effect of reducing membership and increase or change our liability to members in the event of malpractice by our contracted providers.”

Annual report 2025A · The company itself

“Government Regulation We are subject to a variety of laws and regulations in the United States and abroad that involve matters central to our business operations and future business plans. Many of these laws and regulations continue to evolve through legislative and regulatory action and judicial interpretation, and may be modified, interpreted, and applied in an inconsistent manner from one jurisdiction to another, and may conflict with one another.”

Annual report 2025A · The company itself

“We are subject to an extensive, highly-evolving and uncertain regulatory landscape and any adverse changes to, or our failure to comply with, any laws and regulations could adversely affect our brand, reputation, business, operating results, and financial condition. Our business is subject to extensive laws, rules, regulations, policies, orders, determinations, directives, treaties, and legal and regulatory interpretations and guidance in the markets in which we operate, including those governing financial services and banking, federal government contractors, trust companies, securities, derivative transactions and markets, broker-dealers and alternative trading systems (“ATS”), commodities, credit, crypto asset custody, exchange, and transfer, cross-border and domestic money and crypto asset transmission, commercial lending, usury, foreign currency exchange, privacy, data governance, data protection, cybersecurity, fraud detection, payment services (including payment processing and settlement services), consumer protection, escheatment, antitrust and competition, bankruptcy, tax, anti-bribery, economic and trade sanctions, anti-money laundering, and counter-terrorist financing.”

Annual report 2025A · The company itself

“Regulation of the vehicle sales industry may impair our operations, increase our costs of doing business, and create potential liability. Participants in the vehicle sales industry are subject to, and may be required to expend funds to ensure compliance with a variety of laws, regulations, and ordinances. These include, without limitation, land use ordinances, business and occupational licensure requirements and procedures, vehicle titling, sales, and registration rules and procedures, and laws and regulations relating to the environment, anti-money laundering, anti-corruption, exporting, and reporting and notification requirements to agencies and law enforcement relating to vehicle transfers.”

Annual report 2025A · The company itself

“This includes non-malware based attacks like social engineering that exploit user identities and credentials. These attacks are pervasive, targeting a broad range of industries including technology, transportation, healthcare, financial services, governments and political organizations, utility, retail, and public infrastructure.”

Annual report 2026A · The company itself

“These international operations will require significant management attention and financial resources and are subject to substantial risks, including: •greater difficulty in negotiating contracts with standard terms, enforcing contracts and managing collections, and longer collection periods; 33 Table of Contents •higher costs of doing business internationally, including costs incurred in establishing and maintaining office space and equipment for our international operations; •management communication and integration problems resulting from cultural and geographic dispersion; •risks associated with trade restrictions and foreign legal requirements, including any importation, certification, and localization of our Falcon platform that may be required in foreign countries; •greater risk of unexpected changes, or threat of changes, in regulatory practices, tariffs, and tax laws and treaties or the application thereof; •compliance with anti-bribery laws, including, without limitation, compliance with the U.S.”

Annual report 2026A · The company itself

“We operate in many states and localities where the minimum wage is significantly higher than the federal minimum wage. The market for labor in the United States is competitive and has resulted in pressure on wages and may continue to do so in the future.”

Annual report 2026A · The company itself

“Maintaining adequate staffing in our existing restaurants and hiring and training staff for our new restaurants require precise workforce planning which has been complicated by the competitive labor market in the United States.”

Annual report 2026A · The company itself

“Changes and further anticipated changes in immigration laws, regulations, and enforcement could decrease the pool of candidates with legal work authorizations, cause disruption in the workforce for all companies that rely on hourly workers, and increase the costs, time, and requirements to hire new employees.”

Annual report 2026A · The company itself

“Our restaurant operations are subject to United States federal, state, and local laws governing such matters as minimum wages, working conditions, overtime, and tip credits. Labor inflation, including increases in federal, state, and local minimum wage rates, may require us to increase not only the wages of our minimum wage employees, but also the wages paid to employees at wage rates that are above minimum wage.”

Annual report 2026A · The company itself

“Risks Related to the Restaurant Industry We are subject to a number of risks relating to public policy changes and federal, state, and local regulation of our business, including in the areas of environmental matters, minimum wage, employee benefit regulations, unionization, menu labeling, immigration requirements, and taxes, and an insufficient or ineffective response to legislation or government regulation may adversely impact our cost structure, operational efficiencies, and talent availability.”

Annual report 2026A · The company itself

“These actions and proceedings may involve allegations of illegal, unfair or inconsistent employment practices, including wage and hour violations and employment discrimination; guest discrimination; food safety issues including poor food quality, food-borne illness, food tampering, food contamination, and adverse health effects from consumption of various food products or high-calorie foods; other personal injury; violation of “dram shop” laws (providing an injured party with recourse against an establishment that serves alcoholic beverages to an intoxicated party who then causes injury to himself or a third party); trademark infringement; violation of federal securities laws; or other concerns.”

Annual report 2026A · The company itself

“Politiskt eller operativt grundade beslut som innebär en mer restriktiv syn på inköp från bemanningsföretag kan få en negativ effekt på Dedicares verksamhet och tillväxtmöjligheter. I Sverige, Norge och Danmark bedrivs politiska aktiviteter för att minska beroendet genom att införa begränsningar av inhyrd personal.”

Annual report 2024A · The company itself

“For example, in March 2025, we received an FDA warning letter following inspections of our facilities in San Diego, California, and Mesa, Arizona relating to observed non-conformities in manufacturing 14 processes and our quality management system.”

Annual report 2025A · The company itself

“As we grow and expand our administrative, customer, or IT support services, we also utilize the services of personnel and contractors located outside of the United States to perform certain functions. While we make every effort to review our applicable contracts and other payor requirements, a local, state, or federal government agency or one of our customers may find the use of offshore resources to be a violation of a legal or contractual requirement, which could result in termination of the contractual relationship, penalties, or changes in our business operations that could adversely affect our business, financial condition, and results of operations.”

Annual report 2025A · The company itself

“Many of our entry-level store employees are paid at rates in line with the applicable state minimum wage, and consequently, in certain situations, increases to such wage rates have increased our labor costs. If federal, state and/or local minimum wage rates/salary levels were to further increase significantly and/or rapidly, compliance with such increases could adversely affect our earnings.”

Annual report 2026A · The company itself

“In addition, to the extent a significant portion of our employee base unionizes, or attempts to unionize, our labor and other costs could increase, and if the federal government adopts or imposes regulatory or other changes to existing law that could facilitate union organizing or otherwise restrict employer actions, it could have an adverse effect on our business. Our ability to pass along labor and other related costs to our customers is constrained by our everyday low-price model, and we may not be able to offset such increased costs elsewhere in our business.”

Annual report 2026A · The company itself

“Furthermore, significant and/or rapid increases to federal and further increases to state and/or local minimum wage rates/salary levels could adversely affect our operating results if we are not able to otherwise offset these increased labor costs elsewhere in our business or if changes to our business 21 Table of Contents operations are required.”

Annual report 2026A · The company itself

“We routinely incur significant costs in complying with numerous and frequently changing laws and regulations. The complexity of this regulatory environment and related compliance costs continue to increase due to additional legal and regulatory requirements, our expanding operations, and increased regulatory scrutiny and enforcement efforts. New or revised laws, regulations, orders, policies and related interpretations and enforcement practices, particularly those dealing with the sale of products, including without limitation, product and food safety, marketing, labeling or pricing; information security and privacy; labor and employment; employee wages, salary levels and benefits; health and safety; real property; public accommodations; imports and customs; transportation; intellectual property; taxes; bribery and anti-corruption; climate change; and environmental compliance, may significantly increase our expenses or require extensive system and operating changes that could materially increase our cost of doing business.”

Annual report 2026A · The company itself

“We and our franchisees are subject to extensive laws and government regulation and requirements issued by other groups and our failure to comply with existing or increased laws and regulations could adversely affect our business and operating results. We are subject to numerous federal, state, local and foreign laws and regulations, as well as requirements issued by other groups, including those relating to: • the preparation, sale and labeling of food as well as nutrition; • building and zoning requirements and environmental protection; • labor and employment, including minimum wage, overtime, insurance, discrimination and other labor requirements as well as working and safety conditions; • franchise arrangements; • taxation; • antitrust; • payment card industry standards and requirements; and • advertising, social media, information privacy and consumer protection.”

Annual report 2025A · The company itself

“Certain governmental authorities and private litigants have recently asserted claims against franchisors, including us, for provisions in our prior franchise agreements that restrict franchisees from soliciting or hiring the employees of other franchisees or the applicable franchisor. Claims against franchisors for such clauses include allegations that these clauses violate state and federal antitrust and unfair practices laws by restricting the free movement of employees of franchisees and/or franchisor (including the employees of Company-owned stores), thereby depressing the wages of those employees.”

Annual report 2025A · The company itself

“These laws, regulations, and standards govern issues such as worker classification, labor and employment, commissions and fees, anti-discrimination, payments, gift cards, whistleblowing and worker confidentiality obligations, product liability, environmental protection, personal injury, text messaging, membership services, intellectual property, consumer protection and warnings, marketing, advertising, taxation, privacy, data protection, cybersecurity, competition, unionizing and collective action, arbitration agreements and class action waiver provisions, terms of service, mobile application and website accessibility, money transmittal, and background checks. The sale and delivery of goods through our platform is also subject to laws, regulations, and standards that govern food safety, alcohol, pharmaceuticals, controlled substances, 8 Table of Contents hazardous substances, other age-restricted products, and the interstate and intrastate transport of goods.”

Annual report 2025A · The company itself

“For example, some jurisdictions in which we operate have established minimum earnings standards for certain delivery workers, including Dashers, and other types of regulation, and we expect other such measures may be enacted in the future. These minimum earnings standards and similar regulations have caused, and may in the future cause, us to increase the fees we charge to consumers and merchants.”

Annual report 2025A · The company itself

“Further, while we maintain that Dashers that utilize our platform as independent contractors remain independent contractors, there is a risk that Dashers may be reclassified as employees under U.S. federal or state law or the laws of other jurisdictions in which we operate. A reclassification of such Dashers as employees could require us to revise our pricing methodologies and Dasher pay models to account for such a change to Dasher classification, and to make other internal adjustments to account for any transition of a subset of Dashers to employment positions, which could have an adverse effect that is material to our business, financial condition, and results of operations.”

Annual report 2025A · The company itself

“In addition, our continued expansion into new verticals and geographies may also require us to adapt to different labor arrangements, including, but not limited to, engagement with works councils and potential negotiated agreements with labor unions, and may require us to adapt our employment and operational practices with respect to those new verticals and geographies.”

Annual report 2025A · The company itself

“In addition to the harms listed above, a reclassification of Dashers that utilize our platform as independent contractors as employees would require us to significantly alter our existing business model and operations in order to continue to operate our platform in that jurisdiction, which would result in significant increased costs and could negatively impact our ability to attract and retain Dashers on our platform, which could have an adverse effect that is material to our business, financial condition, and results of operations.”

Annual report 2025A · The company itself

“To the extent other jurisdictions adopt such legislation, or we propose or support legislation, ballot initiatives, other legislative processes, or agreements, we would expect our costs related to Dashers in such jurisdictions to increase. We may also experience lower order volumes in such jurisdictions if it becomes necessary to charge higher fees and commissions as a result of such laws, which would adversely affect our results of operations.”

Annual report 2025A · The company itself

“In certain jurisdictions where there are uncertainties associated with the interpretation of applicable law, or for other reasons, we may decide to adopt employment-based models, as we already do, for example, in Germany, which could result in certain operational challenges and increased costs and cause us to withdraw from certain jurisdictions or decide not to expand our business in or into a certain jurisdiction, which could limit our growth and expansion opportunities.”

Annual report 2025A · The company itself

“We are or may become subject to a variety of laws in the United States and other jurisdictions, including those related to worker classification, Dasher pay and conditions of work, Dasher onboarding and deactivation, Dasher safety, engagement of fleet companies and other third-party service providers, insurance, merchant pricing and commissions, 32 Table of Contents consumer pricing and fees, gratuities, taxes, and other laws governing our relationships with merchants, consumers, and Dashers. In addition, we are or may become subject to more broadly applicable laws governing issues such as worker classification, labor and employment, anti-discrimination, food safety, alcoholic beverages and other highly regulated products, online payments, text messaging, subscriptions and membership products, intellectual property, data retention, data protection, data transfers and sharing, cybersecurity, privacy, age verification, AI and automated decision-making technology, consumer protection, consumer fees, antitrust, background checks, website and mobile application accessibility, environmental sustainability and related disclosures, and tax and other government-imposed fees.”

Annual report 2025A · The company itself

“For example, in December 2023, a New York City rule mandating certain minimum earnings standards for certain food delivery workers took effect. Minimum earnings standards and other regulations can increase the cost and complexity of operating, which has caused, and may in the future cause, us to increase the fees we charge to consumers. To the extent that minimum earnings standards or other regulations lead to an increase in the fees we charge to consumers, consumer demand for our services could be reduced, which would further harm our business and results of operations.”

Annual report 2025A · The company itself

“Table of Contents The Company is currently the subject of regulatory and administrative investigations, audits, demands, and inquiries conducted by federal, state, or local governmental agencies concerning the Company’s business practices, the classification and compensation of Dashers, the DoorDash Dasher pay models, compliance with consumer protection laws, privacy, cybersecurity, tax issues, unemployment insurance, workers' compensation insurance, and other matters.”

Annual report 2025A · The company itself

“In January 2023, the CA EDD issued an assessment for certain amounts that it found to be owed by the Company on behalf of Dashers due to their being classified as independent contractors. The Company believes that Dashers are, and have been, properly classified as independent contractors.”

Annual report 2025A · The company itself

“In June 2020, the San Francisco District Attorney filed an action in the Superior Court of California, County of San Francisco, alleging that the Company misclassified California Dashers as independent contractors as opposed to employees in violation of the California Labor Code and the California Unfair Competition Law, among other allegations. This action was resolved in September 2025 for $2 million and no injunctive relief.”

Annual report 2025A · The company itself

“Jurisdictions that have passed or may pass laws protecting Dashers’ independent contractor status may impose new obligations that increase our costs. For example, certain provisions of Proposition 22 regarding compensation, along with certain other requirements, are applicable to us and Dashers in California. These provisions have increased our costs related to Dashers in California.”

Annual report 2025A · The company itself

“Der er risiko for politiske indgreb, som enten vil begrænse muligheden for at hæve lejen eller pålægge koncernen krav i forhold til lavere husleje eller i forhold til byggelovgivning. Det kan give faldende indtægter og øge omkostningerne og vil derfor kunne påvirke selskabets driftsoverskud.”

Annual report 2025A · The company itself

“Factors that have contributed, and may continue to contribute, to a reduction in enrollment include: reductions in workforce by existing customers; a reduction in Medicaid membership due to the implementation of more stringent eligibility redetermination protocols by state agencies; a general economic upturn that results in fewer individuals being eligible for Medicaid programs; a general economic downturn that results in business failures and high unemployment rates; employers no longer offering certain healthcare coverage as an employee benefit or electing to offer coverage on a voluntary, employee-funded basis; participation on Public Exchanges; federal and state regulatory changes, including Medicaid community engagement requirements; changes in procurement practices or funding structures by government agencies; failure to obtain new customers or retain existing customers; premium increases and benefit changes; our exit from a specific market or health plan offering; negative publicity and news coverage; and failure to attain or maintain nationally recognized accreditations.”

Annual report 2025A · The company itself

“We are subject to significant state and federal regulation across many aspects of our business, including, but not limited to, licensing, premiums, marketing activities, provider contracting, access and payment standards, and corporate governance and financial reporting matters, as described in greater detail in Part I, Item 1, “Business - Regulation” in this Annual Report on Form 10-K.”

Annual report 2025A · The company itself

“Furthermore, legislative or regulatory actions intended to address rising health-care costs or affordability concerns may result in the imposition of additional requirements on health insurers, including mandated benefits, restrictions on premium increases, or other pricing limitations, which could increase costs, constrain pricing flexibility, and adversely affect our financial condition and results of operations.”

Annual report 2025A · The company itself

“These laws and regulations include zoning laws, building codes, rent control or stabilization laws, fee transparency requirements, emergency orders, laws benefiting disabled persons, federal, state and local tax laws, landlord tenant laws, environmental laws, employment laws, immigration laws and other laws regulating housing, revenue management software and practices, or laws that are generally applicable to the Company’s business and operations. Changes in, or noncompliance with, laws and regulations could expose the Company to liability and could require the Company to make significant unanticipated expenditures to address noncompliance.”

Annual report 2025A · The company itself

“Existing and future eviction moratoria, rent control or rent stabilization laws and regulations, fee transparency requirements, along with similar laws and regulations that expand tenants’ rights or impose additional costs on landlords, including any such laws or regulations imposed on the housing industry in response to natural disasters, national and global pandemic or other any other health crisis, or local or national states of emergency, may reduce rental revenues or increase operating costs and thus such laws and regulations may materially adversely affect our stock price, business, financial condition and results of operations. Such laws and regulations limit our ability to charge market rents, increase rents, evict tenants, limit our ability to 9 Table of Contents collect rent, or recover increases in our operating expenses and could reduce the value of our communities or make it more difficult for us to dispose of communities in certain circumstances.”

Annual report 2025A · The company itself

“The Company endeavors to comply with privacy laws and regulations applicable to it, including the California Consumer Privacy Act and Washington State’s “My Health My Data Act”, which govern the collection, use, retention, disclosure and security of personal information about California and Washington residents, respectively.”

Annual report 2025A · The company itself

“Toimintaympäristö oli läpi vuoden epävakaa, ja vuotta leimasivat työtaistelutoimet, kohonneet kustannukset sekä geopoliittinen ja taloudellinen epävarmuus keskeisillä markkinoillamme.”

Annual report 2025A · The company itself

“On May 15, 2025, the Ohio Governor signed HB 15, which repealed the statute authorizing ESPs in Ohio, effective August 14, 2025. On December 17, 2025, the PUCO dismissed the Ohio Companies’ application for ESP VI due to the repeal of the ESP statute.”

Annual report 2025A · The company itself

“Government Regulation Our operations, and the products and services that we offer, are subject to various U.S. federal, state and local regulations, as well as regulations outside the U.S. We are also subject to non-government-issued rules and requirements, such as those promulgated by various payment networks.”

Annual report 2025A · The company itself

“A significant portion of our sales agents are independent contractors. Although we believe we have properly classified such individuals, a risk nevertheless exists that a court, the Internal Revenue Service or other authority will take the position that our sales agents are employees. From time to time, we are subject to civil litigation, including class and collective action litigation, alleging that we have improperly classified certain of our sales agents as independent contractors.”

Annual report 2025A · The company itself

“In addition, federal, state, and local regulatory developments, including executive actions and proposed federal and state legislation aimed at limiting institutional ownership and acquisition of single-family homes, may affect the competitive dynamics in our markets by imposing requirements or restrictions that apply differently to various categories of market participants. To the extent these developments disproportionately affect institutional owners, including us, or advantage other categories of investors, such as individual investors and smaller partnerships who may fall outside regulatory definitions, our ability to compete for acquisitions, residents, or capital on favorable terms could be adversely affected.”

Annual report 2025A · The company itself

“In light of continuing federal, state, and local attention on housing supply and availability, there is considerable uncertainty regarding how executive actions, policy initiatives, and potential legislation, along with existing laws, judicial orders, and regulatory frameworks, could affect large institutional investors in single-family rental markets. In addition, legislative and regulatory initiatives addressing residential housing supply and availability have received increased attention at the federal, state, and local levels. This focus has included heightened public and governmental scrutiny of institutional investment in the single-family rental housing market, as well as discussion of potential measures that could affect the acquisition, ownership, or operation of residential rental properties.”

Annual report 2025A · The company itself

“In addition, there has been increased public and governmental scrutiny of institutional investment in single-family rental housing. Certain policymakers, including the President of the United States, have publicly called for congressional action to limit or restrict the ability of large or institutional investors to purchase and own single-family homes. Proposals under discussion could include limitations on acquisitions, increased taxes or fees, enhanced disclosure or reporting requirements, or other restrictions applicable to institutional owners of residential rental housing.”

Annual report 2025A · The company itself

“In addition, executive actions and federal and state legislative, regulatory, or policy initiatives, particularly those focused on institutional ownership and acquisition of single-family homes, could limit our ability to acquire properties, impose additional compliance or operating requirements, or constrain pricing flexibility in certain markets.”

Annual report 2025A · The company itself

“Brokerage of real estate leasing transactions and the provision of property management services require us and certain of our associates to maintain applicable licenses in each state in which we perform these services. If we and our associates fail to maintain our licenses, conduct these activities without a license, or violate any of the regulations covering our licenses, we may be required to pay fines or return commissions received or have our licenses suspended or revoked.”

Annual report 2025A · The company itself

“Supporting Labor Relations ​ More than two-thirds of our associates are covered by collective bargaining agreements negotiated with local unions affiliated with one of several different international unions. There are approximately 350 such agreements, usually with terms of three to five years.”

Annual report 2026A · The company itself

“Additionally, we must comply with numerous provisions regulating, among other things, health and sanitation standards, food labeling and safety, prescriptions, controlled substances, zoning, vehicle operations, fuel operations, equal employment opportunity, minimum wages and licensing for the sale of food, drugs, and alcoholic beverages. We cannot predict future laws, regulations, interpretations, administrative orders, or applications, or the effect they may have on our operations. They could, however, significantly increase the cost of doing business.”

Annual report 2026A · The company itself

“Under the reforms to the Waste Act, municipalities take on a larger role in organising the collection of packaging materials and biowaste from housing properties. As a consequence of the reform, L&T’s direct customer agreements with housing properties on the separate collection of packaging waste and biowaste will be gradually transferred to municipalities for competitive bidding between 1 July 2022 and 1 July 2025.”

Annual report 2025A · The company itself

“of the Finnish waste management market will be moved out of the scope of free competition between 2024 and 2028.”

Annual report 2025A · The company itself

“Työehtosopimusneuvottelujen kattavuus Työmarkkinaosapuolten vuoropuhelu Työsuhteiset työntekijät - ETA-alue Työsuhteiset työntekijät- muu kuin ETA-alue Edustus työpaikalla - vain ETA-alue 40-59 % Ruotsi 80-100 % Suomi, Ruotsi Suomi Työehtosopimusneuvottelujen kattavuus ja työmarkkinaosapuolten vuoropuhelu 2024 Kattavuusaste Työehtosopimusneuvottelujen kattavuus Työmarkkinaosapuolten vuoropuhelu Työsuhteiset työntekijät - ETA-alue Työsuhteiset työntekijät- muu kuin ETA-alue Edustus työpaikalla - vain ETA-alue 40-59 % Ruotsi 80-100 % Suomi, Ruotsi Suomi Kestävyysrapori S1-8 – Työehtosopimusneuvottelujen kattavuus ja työmarkkinaosapuolten vuoropuhelu Luotean Suomen yhtiöissä kaikki työntekijät ja toimihenkilöt (100 %) kuuluvat työehtosopimusten piiriin.”

Annual report 2025A · The company itself

“Luotea ottaa oman työvoiman edut, näkemykset ja oikeudet huomioon strategiassaan ja liiketoimintamallissaan monin tavoin. Luotea on tunnistanut ja arvioinut omaan työvoimaan liittyviä vaikutuksia, riskejä ja mahdollisuuksia, ja keskeisiksi teemoiksi ovat nousseet työllisyysturva, työaika, riittävä palkkaus, yhdistymisvapaus, työntekijöiden tiedonsaanti-, kuulemis- ja osallistumisoikeudet, työmarkkinaosapuolten vuoropuhelu, työ- ja yksityiselämän tasapaino, terveys ja turvallisuus sekä sukupuolten tasa-arvo.”

Annual report 2025A · The company itself

“Lisäksi Luotean eettiset periaatteet henkilöstölle, henkilöstöpolitiikka, ihmisoikeuspolitiikka ja työturvallisuuspolitiikka ohjaavat toimintaa ja varmistavat työntekijöiden oikeuksien kunnioittamisen.”

Annual report 2025A · The company itself

“Table of Contents Item 1A Index McKESSON CORPORATION We are subject to extensive, complex, challenging, and frequently changing healthcare, environmental, and other laws, and may experience increased costs to distribute controlled substances such as opioids.”

Annual report 2026A · The company itself

“Government Regulation We are subject to a variety of laws and regulations in the United States and abroad that involve matters central to our business, many of which are still evolving and being tested in courts, and could be interpreted in ways that could harm our business. These laws and regulations involve matters including privacy, data use, data combination, data protection and personal information, the provision of our services to younger users, biometrics, encryption, rights of publicity, content, integrity, intellectual property, advertising, marketing, distribution, data security, data retention and deletion, data localization and storage, data disclosure, AI and machine learning, electronic contracts and other communications, competition, protection of minors, consumer protection, civil rights, accessibility, telecommunications, product liability, medical devices, e-commerce, taxation, economic or other trade controls including sanctions, export controls, anti-corruption and political law compliance, securities law compliance, and online payment services.”

Annual report 2025A · The company itself

“We are also subject to new legislation or regulatory decisions that restrict our ability to collect and use information about minors or also limit our advertising services or our ability to offer products and services to minors in certain jurisdictions. For example, several U.S. states, including Arkansas, California, Colorado, Florida, New York, Texas, and Utah, among others, have passed laws restricting our ability to offer services to minors without parental consent or otherwise limiting the services that we can provide to minors.”

Annual report 2025A · The company itself

“For example, various EU member states are currently considering a range of legislation from mandatory age verification requirements to banning minor access to social media services. In addition, recent legislation in Australia imposes a social media ban for users under 16 years old, requiring certain social media companies to take reasonable steps to ensure under 16 year olds do not hold user accounts.”

Annual report 2025A · The company itself

“The FTC also continues to monitor us and our compliance with the modified consent order and initiated an administrative proceeding against us, which we are challenging at the agency and in federal court, that alleges deficient compliance and violations of the Children's Online Privacy Protection Act (COPPA), the COPPA Rule, and Section 5 of the Federal Trade Commission Act and seeks changes to our business. If we are unsuccessful in our challenge to the FTC's action and the agency imposes its proposed order in its current form, we would be subject to significant limitations, including on our ability to launch new and modified products or use data of users under 18 years old.”

Annual report 2025A · The company itself

“These laws and regulations include landlord-tenant laws, employment laws, antitrust and other competition laws, laws benefiting disabled persons, privacy laws, tax laws, environmental laws, zoning laws, building codes and other laws regulating housing or that are generally applicable to our business and operations. Noncompliance with laws and regulations could expose us to liability, such as the imposition of fines by the government or the award of damages to private litigants, and could require us to make significant unanticipated expenditures, such as making modifications to our existing apartment communities or increasing construction costs for development communities.”

Annual report 2025A · The company itself

“As our industry becomes increasingly regulated, we do not know whether the legal requirements we are subject to will change or whether new requirements will be imposed. For example, privacy laws continue to evolve, with several states passing new data privacy laws that govern the collection, processing, use, security and disclosure of information about state residents, such as the Texas Data Privacy and Security Act. In addition, there are legislative efforts underway at the local, state and federal levels related to tenant screening limitations, affordable housing mandates, increased eviction notice periods, mandatory alternative dispute resolution and access to legal counsel for unrepresented tenants.”

Annual report 2025A · The company itself

“Likewise, we have seen an increase in governments implementing, considering or being urged by tenant advocacy groups to consider rent control or rent stabilization laws and regulations and other tenants’ rights laws and regulations. New or changed legal requirements implemented in the markets in which we operate could require us to make significant unanticipated expenditures and could also limit our ability to recover increases in operating expenses, impose limitations on our ability to charge market rents or increase rents or charge certain fees, impose limitations on our ability to enforce remedies for the failure to pay rent or otherwise adversely impact our operations.”

Annual report 2025A · The company itself

“In addition to tariffs, framework conditions for Mowi Canada West have been adversely impacted by the authorities' decision in June 2024 to ban traditional marine salmon farming from mid-2029. Consequently, Mowi Canada West is a 20k GWT level operation with uncertain future prospects.”

Annual report 2024A · The company itself

“Mowi has in place a global due diligence process for its suppliers which is the basis for assessing risk in our supply chain, both upstream and downstream. Our human rights due diligence process is founded on principles of ethical business conduct, as expressed in our Code of Conduct, our global policy framework ONE Mowi, our human rights programme, and our risk assessment and management processes.”

Annual report 2024A · The company itself

“Additionally, the major U.S. guild collective bargaining agreements to which the Company is a signatory each expire in 2026, with the Writers Guild of America (“WGA”) agreement expiring on May 1, 2026, and the Screen Actors Guild – American Federation of Television and Radio Artists (“SAG-AFTRA”) and Directors Guild of America (“DGA”) agreements both expiring on June 30, 2026. These and other expiring collective bargaining agreements may be renewed on terms that are unfavorable to us. Furthermore, if expiring collective bargaining agreements cannot be renewed, affected unions have, and could in the future, take action in the form of strikes or work stoppages.”

Annual report 2025A · The company itself

“Such work stoppages have resulted, and may in the future result, in halted productions and delays in our ability to provide new content to our members. Such actions, as well as higher costs or operating complexities in connection with these collective bargaining agreements or a significant labor dispute, could have an adverse effect on our business by causing delays in production, added costs or by reducing profit margins, and our ability to provide new content to our members could likewise be delayed or dropped.”

Annual report 2025A · The company itself

“•We may be unable to obtain or retain necessary permits and land or mining tenure which could adversely affect our operations and projects. •Mining companies are increasingly required to consider and provide benefits to the communities and countries in which they operate in order to maintain operations. •Illegal mining and artisanal mining occurs on or adjacent to certain of our properties exposing such sites to security risks. •Civil disturbances and criminal activities can disrupt business and expose the Company to liability. •Our operations and projects face substantial regulation of health and safety. •Our operations and projects are subject to extensive environmental laws and regulations. •Our operations and projects are subject to a range of risks related to transitioning the business to meet regulatory, societal and investor expectations for operating in a low-carbon economy.”

Annual report 2025A · The company itself

“Our operations are subject to extensive and complex laws and regulations governing worker health and safety across our operating regions and our failure to comply with applicable legal requirements can result in substantial penalties. Future changes in applicable laws, regulations, permits and approvals or changes in their enforcement or regulatory interpretation could substantially increase costs to achieve compliance, lead to the revocation of existing or future exploration or mining rights or otherwise have an adverse impact on our results of operations and financial position.”

Annual report 2025A · The company itself

“In addition, shifts in immigration and work permit policies or other changes in the legal and regulatory environment could negatively impact our ability to attract, hire and retain highly skilled employees.”

Annual report 2026A · The company itself

“We have significant exposure to changes in domestic and foreign laws governing our relationships with our workforce, including wage and hour laws and regulations, fair labor standards, minimum wage requirements, overtime pay, unemployment tax rates, workers' compensation rates, citizenship requirements and payroll taxes, which could have a direct impact on our operating costs. A significant increase in minimum wage or overtime rates in countries where we have a workforce could have a significant impact on our operating costs and may require that we relocate those operations or take other steps to mitigate such increases, all of which may cause us to incur additional costs.”

Annual report 2026A · 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

“We and our business partners engage the services of writers, directors, actors, musicians and other creative talent, production crew members, trade employees, professional athletes and others who are subject to collective bargaining agreements. Any labor dispute may disrupt our operations and cause production delays, which could increase our costs and have an adverse effect on our business, financial condition or results of operations. In 2023, for example, the WGA and SAG-AFTRA commenced industry-wide strikes following the expiration of their collective bargaining agreements with the Alliance of Motion Picture and Television Producers (“AMPTP”), which negotiates with the guilds on behalf of certain content producers.”

Annual report 2024A · The company itself

“For example, the AMPTP’s agreement with the WGA expires in May 2026, while its agreements with both the Directors Guild of America and SAG-AFTRA expire in June 2026.”

Annual report 2024A · The company itself

“Organizations face a rapidly evolving employment landscape including an increasing number and complexity of federal, state, and local regulations; the integration of AI into HCM processes; changing workforce dynamics; increasing medical inflation; and challenges attracting and retaining talent.”

Annual report 2026A · The company itself

“Table of Contents Software Maintenance and Development The ever-changing mandates of federal, state, and local tax and regulatory agencies require us to regularly update our proprietary software to provide payroll and HCM solutions to our customers. We are regularly engaged in developing enhancements to and maintaining our various software platforms to meet the changing requirements of our customers and the marketplace.”

Annual report 2026A · The company itself

“Many federal and state laws that apply to the employer-employee relationship do not specifically address the obligations and responsibilities of the “co-employment” relationship within our PEO business. State and federal positions regarding co-employment relationships are in a constant state of flux and change with varying degrees of impact on our operations. We cannot predict when changes will occur or forecast whether any future changes will be favorable or unfavorable to our operations. There is a possibility that we may be subject to liability for violations of employment or discrimination laws by our customers and acts or omissions of customer employees, who may be deemed to be our agents, even if we do not participate in any such acts or violations.”

Annual report 2026A · The company itself

“Many of our services, particularly payroll tax administration services, employee benefit plan administration services, and PEO services are designed according to government regulations that often change. Changes in regulations could affect the extent and type of benefits employers are required, or may choose, to provide employees or the amount and type of taxes employers and employees are required to pay. Such changes could reduce or eliminate the need for some of our services and substantially decrease our revenue.”

Annual report 2026A · The company itself

“Den bransch som drabbats hårdast av lågkonjunkturen är personaluthyrning där omsättningen fallit med 14 procent på ett år. Fallet beror främst på den svaga arbetsmarknaden men också på förändringar i uthyrningslagen som försvårar personaluthyrning.”

Annual report 2024A · The company itself

“Regeln, som trädde i kraft den 1 oktober 2022 har aktualiserats från och med den 1 oktober 2024 och innebär att efter 24 sammanlagda månader under en period om 36 månader hos kundföretag på samma driftsenhet ska kundföretaget erbjuda inhyrd arbetstagare en tillsvidareanställning alternativt ersätta arbetstagaren med motsvarande två till tre månadslöner. Även om de flesta av PION Groups uppdrag i Sverige är kortare än två år har detta fått en negativ påverkan på verksamheten.”

Annual report 2024A · The company itself

“Till följd av teknikbranschens mansdominans identifierar Pricer en brist på kvinnlig representation. Samtidigt ser bolaget de möjligheter och strategiska fördelar som en ökad mångfald kan medföra.”

Annual report 2024A · The company itself

“S2 Arbetstagare i värdekedja Arbetsvillkor • Negativ påverkan • Positiv påverkan • Risk Underleverantörer inom industrier och regioner med arbetsrättsliga risker kan ha en negativ påverkan på värdekedjan. Ett beroende av ett fåtal leverantörer kan därför medföra operativa risker för bolaget.”

Annual report 2024A · The company itself

“Andra arbetsrelaterade rättigheter • Negativ påverkan • Risk Bolaget har ett antal leverantörer i länder med risk för kränkning av mänskliga rättigheter, vilket kan ha en negativ påverkan på arbetstagare. Detta medför risker för störningar i leverantörskedjan och kan påverka förtroendet för Pricer.”

Annual report 2024A · The company itself

“Table of Contents We are subject to numerous legal and regulatory requirements governing our activities, and we may face substantial fines and penalties, and our business activities may be impacted, if we fail to comply. Our business is subject to or impacted by extensive and frequently changing laws and regulations in the United States (including at both the federal and state levels) and the other jurisdictions where we engage in business, including Canada and Europe.”

Annual report 2025A · The company itself

“In the U.S., the laws that may affect our ability to operate include, but are not limited to: •the federal Anti-Kickback Statute, which prohibits, among other things, persons and entities from knowingly and willfully soliciting, receiving, offering, or paying remuneration, directly or indirectly, in cash or in kind, in exchange for or to induce either the referral of an individual for, or the purchase, lease, order or recommendation of, any good, facility, item or service for which payment may be made, in whole or in part, under federal healthcare programs such as Medicare and Medicaid. A person or entity does not need to have actual knowledge of this statute or specific intent to violate the Anti-Kickback Statute itself to have committed a violation. The U.S. government has interpreted this law broadly to apply to the marketing and sales activities of manufacturers and distributors like us.”

Annual report 2026A · The company itself

“•HIPAA, which created federal criminal laws that prohibit executing a scheme to defraud any healthcare benefit program or making false statements relating to healthcare matters.”

Annual report 2026A · The company itself

“A person or entity does not need to have actual knowledge of these statutes or specific intent to violate them to have committed a violation; •the federal Physician Sunshine Act requirements under the ACA, which impose reporting and disclosure requirements on device and drug manufacturers for any “transfer of value” made or distributed by certain manufacturers of drugs, devices, biologics, and medical supplies to physicians (including doctors, dentists, optometrists, podiatrists and chiropractors), teaching hospitals, non-physician practitioners such as nurse practitioners, physician assistants, clinical nurse specialists, certified nurse anesthetists, anesthesiology assistants and certified nurse midwives, and ownership and investment interests held by physicians and their immediate family members; •federal consumer protection and unfair competition laws, which broadly regulate marketplace activities and activities that potentially harm customers; and -42- Table of Contents PART I Item 1A RESMED INC.”

Annual report 2026A · The company itself

“If our operations are found to be in violation of any of the laws described above or any other governmental regulations that apply to us now or in the future, we may be subject to penalties, including civil and criminal penalties, damages, fines, disgorgement, exclusion from governmental healthcare programs, additional compliance and reporting obligations, imprisonment and the curtailment or restructuring of our operations, any of which could adversely affect our ability to operate our business and our financial results.”

Annual report 2026A · The company itself

“On May 11, 2022, VirtuOx entered into a civil settlement of $3 million and agreed to a five-year CIA with the OIG which resolved allegations that, from January 2016 to December 2020, the company violated the False Claims Act by falsely identifying the place of service for certain services it performed to obtain a higher rate of reimbursement from Medicare and further, that the company administered overnight pulse oximetry tests and, at times, also billed Medicare for single determination pulse oximetry tests (commonly referred to as an oxygen “spot check”) for the same patient when the only test performed was the overnight test. Under the CIA, VirtuOx must retain an outside expert to perform annual claims reviews that address the place of service identified on the claim. VirtuOx will be under the CIA through 2027 and any failure to comply with its obligations under the CIA could result in monetary penalties and exclusion from participating in federal healthcare programs.”

Annual report 2026A · The company itself

“Our business activities are subject to extensive regulation, and any failure to comply could have a material adverse effect on our business, financial condition, or results of operations. We are subject to extensive U.S. federal, state, local and international regulations regarding our business activities. Failure to comply with these regulations could result in, among other things, recalls of our products, substantial fines and criminal charges against us or against our employees. Furthermore, certain of our products could be subject to recall if the FDA, other regulators or we determine that those products are not safe or effective.”

Annual report 2026A · The company itself

“As of December 31, 2025, approximately 84 percent of the Company’s Employees were represented for collective-bargaining purposes by labor unions, making the Company particularly exposed in the event of labor-related job actions.”

Annual report 2025A · The company itself

“Befintliga och framväxande rättsliga krav på företag att säkerställa respekt för mänskliga rättigheter i sina värdekedjor, i synnerhet tvingande bestämmelser om tillbörlig aktsamhet eller liknande krav, som bestämmelserna i USA:s lagar mot tvångsarbete vid import och EU:s direktiv om tillbörlig aktsamhet för företag i fråga om hållbarhet och EU:s förordning mot tvångsarbete, kräver att företag stärker sina riskhanteringsrutiner, vilket kan öka kostnaderna för regelefterlevnad. Underlåtenhet att påvisa regelefterlevnad kan få juridiska och ekonomiska konsekvenser och påverka Ericssons tillgång till vissa marknader, till exempel genom importförbud.”

Annual report 2024A · The company itself

“Faktorer kopplade till mänskliga rättigheter blir även allt viktigare när kunder utvärderar leverantörer. Hur Ericsson presterar inom detta område kan därför påverka hur Bolaget bedöms i upphandlingar och anbudsförfaranden.”

Annual report 2024A · The company itself

“For example, on September 21, 2024, Textron Aviation’s largest union rejected a proposed new contract and engaged in a strike that had an adverse effect on Textron Aviation's ability to meet its production and delivery schedules, and negatively impacted revenues and segment profit in 2024.”

Annual report 2026A · The company itself

“In addition, the workforces of many of our suppliers and customers are represented by labor unions. Work stoppages or strikes at the plants of our key suppliers could disrupt our manufacturing processes; similar actions at the plants of our customers could result in delayed or canceled orders for our products.”

Annual report 2026A · The company itself

“Approximately 7,700, or 29%, of our U.S. employees are represented by labor unions under various collective bargaining agreements with varying durations and expiration dates, and many of our non-U.S. employees are represented by organized councils.”

Annual report 2026A · The company itself

“Many states have adopted omnibus consumer privacy laws. These state laws define “personal information” broadly enough to include many online identifiers provided by individuals’ devices, applications, and protocols (such as IP addresses, mobile advertising identifiers and unique cookie identifiers), individuals’ location data, and hashed versions of email addresses and phone numbers.”

Annual report 2025A · The company itself

“In addition to these broad-based consumer privacy laws, lawmakers and regulators continue to focus on activities that involve use of categories of personal data perceived as especially sensitive, such as health data and children’s data. For example, the FTC finalized an update to rules adopted pursuant to the Children Online Privacy Protection Act, modifying some requirements relating to the use of children’s data for targeted advertising and several states have enacted laws that would substantially impact activities that involve showing targeted advertisements to individuals under 18 years of age 20 Table of Contents through a variety of new restrictions, or in some cases prohibit it altogether.”

Annual report 2025A · The company itself

“In the United States, many state and local laws, rules, and regulations impose legal restrictions and other requirements on operating our Mobility products, including licensing, insurance, screening, and background check requirements.”

Annual report 2025A · The company itself

“This uncertainty and fragmented regulatory environment creates significant complexities for our business and operating model.”

Annual report 2025A · The company itself

“Substantially all states in the United States and numerous municipalities in the United States and around the world have adopted Transportation Network Company (“TNC”) regulations. These regulations generally focus on companies that operate websites or mobile apps that connect individual drivers with their own vehicles to passengers willing to pay to be driven to their destinations. These regulations often require TNCs to comply with rules regarding, among other things, background checks, vehicle inspections, accessible vehicles, driver and consumer safety, insurance, driver training, driver conduct, and other similar matters.”

Annual report 2025A · The company itself

“The Adoption of, or Changes to, Rent Control, Rent Stabilization, Eviction, Tenants’ Rights and Similar Laws and Regulations in Our Markets Could Have an Adverse Effect on Our Results of Operations and Property Values. ● Risks of Litigation. ● A Breach of Information Technology Systems On Which We Rely Could Materially and Adversely Impact Our Business, Financial Condition, Results of Operations and Reputation. ● Changing Interest Rates Could Increase Interest Costs and Adversely Affect Our Cash Flows and the Market Price of Our Common Stock. ● Insufficient Cash Flow Could Affect Our Debt Financing and Create Refinancing Risk. ● Failure to Generate Sufficient Income Could Impair Debt Service Payments and Distributions to Stockholders. ● Failure To Maintain Our Current Credit Ratings Could Adversely Affect Our Cost of Funds, Related Margins, Liquidity, and Access to Capital Markets.”

Annual report 2025A · The company itself

“The Adoption of, or Changes to, Rent Control, Rent Stabilization, Eviction, Tenants’ Rights and Similar Laws and Regulations in Our Markets Could Have an Adverse Effect on Our Results of Operations and Property Values. Various state and local governments as well as the federal government have enacted and may continue to enact rent control, rent stabilization, eviction, tenants’ rights, allowable fees, and other matters, as well as any lawsuits against us arising from such laws and regulations, may limit our ability to charge market rents, increase rents, evict delinquent tenants or charge fees, or recover increases in our operating expenses, which could have an adverse effect on our results of operations and the value of our properties.”

Annual report 2025A · The company itself

“The following factors, among others, may affect the income generated by our apartment communities: ● the national and local economies; ● local real estate market conditions, such as an oversupply or increasing supply of apartment homes; ● tenants’ or prospective tenants’ perceptions of the safety, convenience, and attractiveness of our communities and the neighborhoods where they are located; ● our ability to provide adequate management, maintenance and insurance; ● rental expenses, including real estate taxes and utilities; ● competition from other apartment communities or alternative housing options; 25 Table of Contents ● changes in interest rates and the availability of financing; ● changes in governmental regulations and the related costs of compliance; and ● changes in tax and housing laws, including the enactment of rent control laws or other laws regulating multifamily housing.”

Annual report 2025A · The company itself

“Changes in these government programs in recent years have resulted in limitations on reimbursement and, in some cases, reduced levels of reimbursement for healthcare services. Payments from federal and state government programs are subject to statutory and regulatory changes, administrative rulings, interpretations and determinations, requirements for utilization review, and federal and state funding restrictions, all of which could materially increase or decrease program payments, as well as affect the cost of providing service to patients and the timing of payments to facilities.”

Annual report 2025A · The company itself

“Legislation adopted on July 4, 2025 (the One Big Beautiful Budget Act), attaches work and community service requirements to eligibility for Medicaid benefits that will have the effect of limiting Medicaid enrollment and expenditure. That legislation also places limits on provider fees used to increase federal Medicaid funding to states. The legislation prohibits states not previously having expanded Medicaid eligibility, which includes 9 states where we have facilities, to 138% of federal poverty level from increasing the rate of current provider fees which fund certain state supplemental payments or increasing the base of the fee to a class or items of services that the fee did not previously cover.”

Annual report 2025A · The company itself

“For states having expanded Medicaid eligibility under the legislation, the provider fee threshold will be reduced by 0.5% annually between federal fiscal years 2028 and 2032 with the resulting threshold ultimately becoming 3.5%. Under current law, and based on our current expectations, we estimate that, commencing with the 2028 state fiscal years, our aggregate annual net benefit will be reduced, on an annually increasing and relatively pro rata basis, by approximately $432 million to $480 million by 2032.”

Annual report 2025A · The company itself

“In addition, in some markets such as California, there are requirements to maintain specified nurse-staffing levels which could adversely affect our results of operations by increasing our salaries, wages and benefits expense, and/or by decreasing our net revenues to the extent we cannot meet those staffing levels. California legislation required the adoption of staffing standards specific to acute psychiatric hospitals and requirements to determine appropriate licensed staffing based on patient acuity and care needs no later than January 31, 2026.”

Annual report 2025A · The company itself

“Certain states in which we operate hospitals have certificates of need (“CON”) laws as a condition prior to hospital capital expenditures, construction, expansion, modernization or initiation of major new services. Our failure to obtain necessary state approval could result in our inability to complete a particular hospital acquisition, expansion or replacement, make a facility ineligible to receive reimbursement under the Medicare or Medicaid programs, result in the revocation of a facility’s license or impose civil or criminal penalties on us, any of which could harm our business.”

Annual report 2025A · The company itself

“In addition, our managers, tenants and borrowers face a highly competitive labor market, which has been compounded by general inflationary pressures on wages and could be further compounded by a shortage of care givers or other trained personnel, union activities or minimum wage laws. For example, California 20 Table of Contents SB-525, which was signed into law in June 2023 and became effective for healthcare workers in 2024, requires certain healthcare facility employers to pay wages for certain covered employees that are higher than other state-mandated minimum wages. Pressures such as these may require our managers, tenants and borrowers to comply with regulations or enhance pay and benefits packages to compete effectively for trained personnel or use high-cost alternatives to meet labor needs, including contract and overtime labor.”

Annual report 2025A · The company itself

“Governmental Regulation and Licensing The ownership, operation and management of gaming and racing facilities are subject to pervasive regulation. Each of our gaming and racing facilities is subject to regulation under the laws, rules, and regulations of the jurisdiction in which it is located.”

Annual report 2025A · The company itself

“These laws and regulations include, but are not limited to, restrictions and conditions concerning alcoholic beverages, environmental matters, labor and employees, anti-discrimination, health care, currency transactions, taxation, zoning and building codes and marketing and advertising.”

Annual report 2025A · The company itself

“If negotiations to renew expiring collective bargaining agreements are not successful or become unproductive, the affected unions could take, and have taken, actions such as strikes, work slowdowns or work stoppages. Strikes, work slowdowns, work stoppages, or the possibility of such actions, including the 2023 WGA and SAG-AFTRA strikes and potential future strikes by other unions involved in development and production, have resulted in, and could in the future result in, delays in the production of, or the release of, our television programs, feature films, and interactive entertainment. For example, the 2023 WGA and SAG-AFTRA strikes caused delays in the production of our television programs and feature films and in the release of certain programming, which impacted our business even after the strikes were ultimately resolved.”

Annual report 2025A · The company itself

“For example, California's Assembly Bill No. 1228 (“AB 1228”), which became effective during 2024, has various provisions impacting our Concepts, including an increase in the minimum wage to for workers at quick service restaurants in the state that are part of a national chain. AB 1228 has increased, and is expected to continue to increase the operating costs for our Concepts’ restaurants in California, and may otherwise adversely impact and disrupt our operations in California.”

Annual report 2025A · The company itself

“The legal and regulatory landscape in which Maersk operates is complex, and the company could be subject to compliance cases in connection with violations of anti- corruption laws, anti-trust regulations, international sanctions and/or data privacy.”

Annual report 2025A · The company itself

“In some countries we are required by local law to consult with employee representative bodies such as works councils, which may constrain our operational flexibility and efficiency in balancing our workforce with client demand and make us less competitive.”

Annual report 2025A · The company itself

“Although only a very small percentage of our people in the U.S. are on H-1B visas, changes in immigration laws or policies, or the application of those laws and policies, could limit the availability of H-1B or other visas in the U.S.”

Annual report 2025A · The company itself

“Our global operations expose us to numerous and sometimes conflicting legal and regulatory requirements, and violation of these regulations could harm our business. We are subject to numerous, changing, and sometimes conflicting, legal regimes on matters as diverse as anticorruption, import/export controls, content requirements, trade restrictions, tariffs, taxation, sanctions, boycotts, immigration, internal and disclosure control obligations, securities regulation, including ESG regulation and reporting requirements, anti-competition, anti-money-laundering, data privacy and protection, government compliance, wage-and-hour standards, employment and labor relations, product liability, health and safety, environmental, human rights and AI regulations, such as the European Union’s AI Act.”

Annual report 2025A · The company itself

“For example, changes in laws and regulations to limit using off-shore resources in connection with our work or to penalize companies that use off-shore resources, which have been proposed from time to time in various jurisdictions, could reduce the demand for our services and adversely affect our cost structure, profitability and results of operations. Such changes may result in contracts being terminated or work being transferred onshore, resulting in greater costs to us, and could have a negative impact on our ability to obtain future work from government clients.”

Annual report 2025A · The company itself

“Certain federal and state laws and regulations applicable to Aflac U.S. are outlined below. •Patient Protection and Affordable Care Act The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively, the ACA), federal health care reform legislation, gave the U.S. federal government direct regulatory authority over the business of health insurance. The ACA, as enacted, does not require material changes in the design of the Company's insurance products.”

Annual report 2025A · The company itself

“We are also exposed to risks associated with the locations of remote workers, including compliance with local laws and regulations or exposure to compromised internet infrastructure. Allowing members of our workforce to work remotely creates intellectual property risk if employees create intellectual property on our behalf while residing in a jurisdiction with unenforced or uncertain intellectual property laws.”

Annual report 2025A · The company itself

“Our transition to full or predominantly remote work environments also presents significant challenges to maintaining compliance with country and state requirements such as employee income tax withholding, the recording of reserves to cover withholding corrections or penalties, payroll tax remittance and reporting, payroll registration, and workers’ compensation insurance. Additionally, foreign tax authorities may assert that certain of our entities have created permanent establishment in their countries, which could result in additional corporate income taxes and employee payroll withholding obligations. Any of these operational challenges or tax implications resulting from our Live and Work Anywhere policy may materially adversely affect our business, results of operations, and financial condition.”

Annual report 2025A · The company itself

“Hosts list, and guests search for, stays experiences, and services on our platform in more than 220 countries and regions across the globe. There are national, state, local, and foreign laws and regulations in jurisdictions that relate to or affect our business and, since we began our operations in 2008, there have been and continue to be legal and regulatory developments and inconsistent or ambiguous interpretations among local, regional, or national laws or regulations that affect the short-term rental, experiences, services, long-term rental, digital platform companies, and home sharing business. These laws and regulations may impact the ability of hosts to list entirely and/or may limit the location and/or duration of stays permitted, the nature of experiences or services provided, or may establish other conditions upon which they are allowed to host.”

Annual report 2025A · The company itself

“We require hosts and guests to comply with all applicable legal obligations under our terms of service, but governments may nonetheless seek to hold us accountable for hosts’ and guests’ compliance. This can lead to penalties and costs that impact our reputation and financial condition.”

Annual report 2025A · The company itself

“Vi står inför globala krafter som geopolitisk instabilitet, ett alltmer komplext regelverk samt regionalisering, som vi måste möta med flexibilitet och motståndskraft.”

Annual report 2024A · The company itself

“Our agtech industry tenants and venture investment portfolio companies are subject to a number of risks unique to their industry, including (i) uncertain regulatory environment, (ii) seasonality in business, (iii) unavailability of transportation mechanisms for carrying products and raw materials, (iv) changes in costs or constraints on supplies or energy used in operations, (v) strikes or labor slowdowns or labor contract negotiations, and (vi) rapid technological changes in agriculture. These risks may adversely affect our tenants’ ability to make rental payments or satisfy their other lease obligations to us or may impact our venture investment portfolio companies’ value, which consequently may materially adversely affect our business, results of operations, financial condition, and stock price.”

Annual report 2025A · The company itself

“Uncertain regulatory environment •Laws and regulations governing the Internet, e-commerce, electronic devices, and other services and products developed by the agtech industry continue to evolve. Existing and future laws and regulations and the halting of operations at certain agencies resulting from partial or complete U.S. federal government shutdowns may impede the growth of our agtech industry tenants and venture investment portfolio companies. These laws and regulations may cover, among other areas, taxation, privacy, data protection, pricing, content, copyrights, distribution, mobile communications, business licensing, and consumer protection.”

Annual report 2025A · The company itself

“Att säkerställa rimliga arbetsvillkor och respektera arbetstagarnas grundläggande rättigheter både för Alfa Lavals personal och medarbetare i värdekedjan fastställdes som väsentliga inverkningar och potentiella risker i väsentlighetsbedömningen. Detta pekar mot fortsatt fokus på befintliga prioriteter i Alfa Lavals hållbarhetsstrategi, inklusive att säkerställa hälsa och säkerhet på arbetsplatsen, främja mångfald och inkludering samt att erbjuda de anställda utbildning och utveckling av färdigheter.”

Annual report 2024A · The company itself

“Additionally, approximately 91% of our employees are located internationally, and restrictive immigration or travel policies or legal or regulatory developments relating to immigration in the United States and other countries may negatively affect our efforts to attract, motivate, train or retain qualified personnel.”

Annual report 2025A · The company itself

“Labor disputes and work stoppages involving our personnel may disrupt our operations and could materially impact our results or operations.”

Annual report 2025A · The company itself

“We are also subject to collective bargaining agreements covering approximately 1,700 employees. Any work stoppage experienced in connection with negotiations of collective bargaining agreements could adversely affect our financial condition and results of operations as well as our ability to implement our strategy.”

Annual report 2025A · The company itself

“Finland påverkades också av en omfattande strejk under det första kvartalet.”

Annual report 2024A · The company itself

“Under 2024 lanserade Alligo en tjänst för tillpassningstest av tätsittande andningsskydd i Sverige. Individuell utprovning är en viktig säkerhetsåtgärd och ett lagkrav i Sverige sedan 1 januari 2025.”

Annual report 2024A · The company itself

“Strejken i Finland under det första kvartalet bidrog ytterligare till nedgången jämfört med i fjol.”

Annual report 2024A · The company itself

“I tillägg påverkades försäljningen negativt av strejk under det första kvartalet.”

Annual report 2024A · The company itself

“Yhtiö hallitsee näitä vaikutuksia tarjoamalla henkilöstölle Code of Conduct -koulutuksen ja sitouttamalla ohjeistuksen suorittamiseen sekä velvoittamalla merkittävimmät toimittajat suorittamaan Supplier Code of Conduct- valmennuksen.”

Annual report 2025A · The company itself

“Our compliance with these laws and regulations may be onerous and could, individually or in the aggregate, increase our cost of doing business, make our products and services less useful, limit our ability to pursue certain business practices or offer certain products and services (either in certain geographies or at all), cause us to change our business models and operations, affect our competitive position relative to our peers, or otherwise harm our business, reputation, financial condition, and operating results.”

Annual report 2025A · The company itself

“As of February 23, 2026, 44 states, the District of Columbia and Puerto Rico have enacted laws increasing the legal age to purchase tobacco products to 21.”

Annual report 2025A · The company itself

“In addition, changes in laws and regulations applicable to employees, independent contractors, and temporary personnel could increase our payroll costs, decrease our operational flexibility, and negatively impact how we are able to staff our operations and supplement our workforce.”

Annual report 2025A · The company itself

“As of June 30, 2026, approximately 37% of our employees were covered by collective bargaining agreements.”

Annual report 2026A · The company itself

“Although we have not experienced significant labor disruptions in recent years, we have encountered isolated work stoppages and may face labor disputes in the future, including protests or strikes, which could disrupt our operations and negatively impact our financial performance.”

Annual report 2026A · The company itself

“Increased social legislation or regulation, including requirements related to human rights due diligence and modern slavery reporting, could result in increased costs of compliance resulting from enhanced efforts to assess and remediate potential human rights risk across our global operations and supply chain.”

Annual report 2026A · The company itself

“SYSTEM TRANSMISSION LINES AND FACILITY SITING Laws in the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Tennessee, Texas, Virginia and West Virginia require prior approval of sites of generating facilities and/or routes of high-voltage transmission lines. AEP has experienced delays and additional costs in constructing facilities as a result of proceedings conducted pursuant to such statutes and in proceedings in which AEP’s operating companies have sought to acquire rights-of-way through condemnation. These proceedings may result in additional delays and costs in future years.”

Annual report 2025A · The company itself

“As of December 31, 2025, approximately 44% of our workforce was represented by unions, and we had 74 collective bargaining agreements in place with 14 different unions representing our unionized employees. These collective bargaining agreements, 26 of which are scheduled to expire during 2026, are subject to periodic renewal and renegotiation. We may not be able to successfully renew or renegotiate these labor contracts, or enter into new agreements, on terms that are acceptable to us.”

Annual report 2025A · The company itself

“The competition for these employees is intense and the labor market is tight, which may be exacerbated by changes to U.S. immigration policies.”

Annual report 2025A · The company itself

“Our businesses are subject to extensive legal and regulatory oversight throughout the world, including the Irish Companies Act, the U.S. securities laws, rules, and regulations, the rules and regulations promulgated by the FCA and a variety of other laws, rules, and regulations addressing, among other things, licensing, data privacy, data management and data protection, artificial intelligence, trade sanctions laws, restrictions and export controls, anti-money laundering, wage-and-hour standards, employment and labor relations, antitrust and competition, anti-corruption, currency, reserves, government contracting, and the amount of local investment with respect to our operations in certain countries.”

Annual report 2025A · The company itself

“In addition, changes in laws, government regulations, or the way those regulations are interpreted in the jurisdictions in which we operate could affect the viability, value, use, or delivery of benefits and human resources programs, including changes in regulations relating to health and welfare plans (such as medical), defined contribution plans (such as 401(k)), or defined benefit plans (such as pension), may adversely affect the demand for, or profitability of, our services.”

Annual report 2025A · The company itself

“Consulting and brokerage also advises multinational companies on global benefits programs, including program design and management, financing optimization, and enhanced employee experience, as well as assists in navigating global regulatory and compliance requirements in over 120 countries.”

Annual report 2025A · The company itself

“In December 2025, the FCA published PS25/23 “Tackling non-financial misconduct in financial services” finalizing FCA Handbook guidance on how non-financial misconduct (“NFM”) is assessed under the Code of Conduct (“COCON”) and the Fit and Proper test (“FIT”). The FCA confirms that serious work-related misconduct (e.g. bullying/harassment/violence) can give rise to conduct rule breaches, inform fitness and propriety decisions, and affect regulatory references.”

Annual report 2025A · The company itself

“The Central Bank (Individual Accountability Framework) Act 2023 (the “IAF Act”) was signed into law in March 2023 and took effect in full on July 1, 2025. The IAF Act implements substantive changes to the fitness and probity regime maintained by the CBI in Ireland and imposes certain additional obligations and liability for senior executives in Irish regulated financial service entities, including (re)insurance companies.”

Annual report 2025A · The company itself

“In 2022, the European Commission adopted a proposal for the Corporate Sustainability Due Diligence Directive (“CSDDD”). The CSDDD entered into force in July 2024 and its obligations will come into effect on a phased basis depending on an in-scope entity’s turnover threshold, employee count and jurisdiction of incorporation. The main focus of the CSDDD is for in-scope entities to conduct due diligence on human rights and environmental impacts within such in-scope entities, their subsidiaries and across its value chain.”

Annual report 2025A · The company itself

“Väsentligt område Hållbarhetsämne Påverkansväsentlighet eller finansiell väsentlighet Påverkan, risker och möjligheter Beskrivning av påverkan, risker eller möjligheter Tidshorisont: Läs mer Likabehandling och lika möjligheter för medarbetare Potentiell negativ påverkan Likabehandling och lika möjligheter Potentiell negativ påverkan när det gäller likabehandling och lika möjligheter för alla medarbetare.”

Annual report 2024A · The company itself

“Potentiell negativ påverkan Arbetsvillkor i värdekedjan Potentiell negativ påverkan inom områden som arbetsförhållanden, arbetsvillkor samt hälsa och säkerhet på arbetsplatsen hos leverantörer i värdekedjan i länder med svag tillämpning av lagstiftning.”

Annual report 2024A · The company itself

“Potentiell negativ påverkan Arbetsrelaterade rättigheter kopplade till mänskliga rättigheter Potentiell negativ påverkan på mänskliga rättigheter (såsom barnarbete, tvångsarbete, bostäder för anställda och anställdas integritet) för arbetstagare i värdekedjan eftersom lokal lagstiftning i vissa länder antas vara låg.”

Annual report 2024A · The company itself

“Arjo driver flera program inom ramen för FNs Global Compact och arbetar kontinuerligt med utveckling, utbildning och uppföljning inom exempelvis affärsetik, hälsa och säkerhet samt miljö i värdekedjan.”

Annual report 2024A · The company itself

“Certain states like Minnesota, North Dakota, Oklahoma and Wyoming have implemented rules that would prevent employers from entering into non-competes with employees, while California has broadened the scope of its longstanding restrictions on non-competes. If more states adopt similar rules or if we fail to adequately address any of the issues referred to above, we could experience a material adverse effect on our business, operating results and financial condition.”

Annual report 2025A · The company itself

“However, work stoppages could occur in countries where such organizations exist and we may not be successful in negotiating new collective bargaining agreements. In addition, collective bargaining negotiations may (1) result in significant increases in the cost of labor, (2) divert management’s attention away from operating the business or (3) break down and result in the disruption of operations.”

Annual report 2025A · The company itself

“New laws or regulations reducing employer-sponsored health insurance, by limiting or eliminating tax-advantaged employer-sponsored benefits or otherwise, could impact clients’ demand for our services. If we are unable to adapt our services to changes in the legal and regulatory landscape around employer-sponsored benefits, our results of operations could be adversely impacted.”

Annual report 2025A · The company itself

“Adverse regulations and rulings by the courts, the FCC or states relating to broadband and wireless deployment could impede our ability to manage our networks and recover costs and lessen incentives to invest in our networks. The continuing growth of IP-based services, especially when accessed by wireless devices, has created or potentially could create conflicting regulation between the FCC and various state and local authorities, which may involve lengthy litigation to resolve and may result in outcomes unfavorable to us.”

Annual report 2025A · The company itself

“On November 15, 2023, the FCC adopted rules to “facilitate” equal access to broadband and prevent digital discrimination in broadband access. The rules, which became effective March 22, 2024, prohibit covered entities from implementing policies or practices not justified by genuine issues of technical or economic feasibility, that differentially impact consumers’ access to broadband internet access service based on prohibited characteristics (including income level, race and ethnicity) or that have such differential impact, whether intentional or not.”

Annual report 2025A · The company itself

“To address this, we began by establishing Group-wide policies on diversity and inclusion, as well as anti-discrimination and anti-harassment, to ensure a common understanding across all locations and a unified approach to addressing material impacts on our employees.”

Annual report 2024A · The company itself

“Atlas Copco Group operates in countries/areas with high risk of human rights violations, including child labor, forced or compulsory labor, modern slavery, poor working conditions, limitations of the freedom of association and discrimination.”

Annual report 2024A · The company itself

“Positiivinen vaikutus tai taloudellinen mahdollisuus - Negatiivinen vaikutus tai taloudellinen riski ATRIA OYJ Tilinpäätös ja toimintakertomus 2025 43 Atrian tilinpäätös ja toimintakertomus 2025 S1 OMAAN TYÖVOIMAAN LIITTYVÄT VAIKUTUKSET, RISKIT JA MAHDOLLISUUDET VAIKUTUKSET YMPÄRISTÖÖN JA/TAI YHTEISKUNTAAN RISKIT JA MAHDOLLISUUDET ATRIALLE STRATEGISET HALLINTAKEINOT Työolot + Työmarkkinaosapuolten vuoropuhelu, yhdistymisvapaus ja työehtosopimusneuvottelut : Avoin sosiaalinen dialogi parantaa henkilöstön vaikuttamismahdollisuuksia omaan työympäristöön ja työolosuhteisiin. Pitkällä aikavälillä vakaus ja ennustettavuus työpaikalla lisääntyy, kun työpaikalla on yhteisesti sovitut toimintamallit kuten vapaus liittyä ammattiliittoihin ja yhteistoimintaneuvotteluihin. Henkilöstöhallinto ohjaa yhteistoimintalainsäädännön mukaisia kuulemisen ja osallistamisen prosesseja Atrialla. Atria käy aktiivista ja säännöllistä vuoropuhelua työmarkkinaosapuolten kesken.”

Annual report 2025A · The company itself

“Työtuntien ja palkkauksen vähimmäisvaatimukset sekä oikeudet perhevapaille on määritelty Atrian toiminta-alueiden paikallisessa lainsäädännössä sekä työehtosopimuksissa. Vähimmäisvaatimukset on kussakin toimintamaassa määritetty turvallisen ja ihmisarvoisen elintason ylläpitämiseksi.”

Annual report 2025A · The company itself

“Atrialla on korruption ja lahjonnan ehkäisemiseksi sekä paljastamiseksi laadittu politiikka. Politiikan sisältämiä toimintatapoja koulutetaan henkilöstölle, jotta he ymmärtäisivät ja osaisivat toimia tilanteissa, joissa on tunnistettu korruption tai lahjonnan riski. Koulutusta on kohdennettu riskialttiisiin työtehtäviin. Lisäksi käytössä ovat sisäisen valvonnan menettelyt. - Mahdolliset puutteet korruption ja lahjonnan ennaltaehkäisyssä, valvonnassa tai henkilöstön osaamisessa voisivat johtaa epäeettiseen päätöksentekoon, epäasialliseen vaikuttamiseen tai epäselviin eturistiriitatilanteisiin.”

Annual report 2025A · The company itself

“A global development towards increased safety standards with stricter regulations and increasingly stringent rating frameworks is a strong driver of safety content in vehicles. Other drivers are the premium vehicle trend and the increasing focus on safety in medium- and low-income markets.”

Annual report 2024A · The company itself

“Around 60 percent of the Company’s workforce outside the United States is covered by a collective bargaining agreement.”

Annual report 2024A · The company itself

“We are subject to existing stringent requirements under the National Traffic and Motor Vehicle Safety Act of 1966 (the “Vehicle Safety Act”), including a duty to report, subject to strict timing requirements, safety defects with our products. The Vehicle Safety Act imposes potentially significant civil penalties for violations including the failure to comply with such reporting actions.”

Annual report 2024A · The company itself

“In addition, changes in federal, state or local tax laws and regulations allowing for tax credits (including the non-renewal of such laws) could adversely impact our Tax Credit Services business, which helps clients in the United States realize tax credit opportunities in connection with the hiring of new employees and certain other activities.”

Annual report 2026A · The company itself

“Changes in laws, or interpretations thereof, that govern the co-employment arrangement between a professional employer organization and its worksite employees may require us to change the manner in which we conduct some aspects of our PEO business. In addition, changes in the manner in which health and welfare plans sponsored by PEOs or the TotalSource Health and Welfare Plan, in particular, are regulated could adversely impact the demand for our PEO offering.”

Annual report 2026A · The company itself

“Because our PEO is a co-employer with our PEO clients and a Certified PEO by the Internal Revenue Service, we may be subject to certain obligations, responsibilities and liabilities of an employer with respect to Worksite Employees (“WSE”), including with respect to their wages and the payment thereof, tax credits for employers, the payment of certain taxes with respect to WSE wages and employee benefits provided to the WSEs.”

Annual report 2026A · The company itself

“Our business is also subject to employment laws and regulations, including those related to minimum wage, benefits and scheduling requirements, and these laws are subject to change over time. In addition, the implementation of potential regulatory changes relating to overtime exemptions and benefits for certain employees under federal and state laws could result in increased labor costs to our business and negatively impact our operating results.”

Annual report 2025A · The company itself

“We are subject to numerous federal, state and local laws and regulations, many of which are complex, frequently revised and subject to varying interpretations. These include laws governing employment and labor, wage and hour, environmental matters, proper handling and disposal of hazardous materials and waste, employee benefits, data privacy, cybersecurity, safety, the pricing and sale of goods, import and export compliance, transportation and logistics, consumer protection and advertising, among others.”

Annual report 2025A · The company itself

“We have various non-U.S. collective labor arrangements, which make us subject to potential work stoppages, as well as union and works council campaigns and other labor disputes, any of which could adversely impact our business.”

Annual report 2025A · The company itself

“Our global supply chain and foreign operations are subject to evolving regulatory requirements, including import controls, licensing, recordkeeping, modern slavery and human rights disclosure laws, and related compliance obligations.”

Annual report 2025A · The company itself

“Our ethics and compliance programs, training, monitoring, and policies may not always protect us from conduct by individual employees that violate these laws. Violations or allegations of violations of these laws may result in large civil and criminal penalties, debarment, or exclusion from participating in government programs, diversion of management time, attention, and resources, and may otherwise have an adverse effect on our business, results of operations, financial condition, and cash flows.”

Annual report 2025A · The company itself

“ANSVARSFULLT FÖRETAGANDE – G1 • Det råder nolltolerans mot alla typer av korruption och konkurrensbegränsande samarbeten. Medarbetare utbildas löpande i uppförandekoden. Under 2024 deltog 93 procent av medarbetarna i utbildningen.”

Annual report 2024A · The company itself

“Mål 8 – Anständiga arbetsvillkor och ekonomisk tillväxt: Ansvarsfull försörjningskedja Arbetsmiljö och arbetsvillkor är prioriterade områden. Genom Beijer Refs uppförandekod ställs krav på leverantörer.”

Annual report 2024A · The company itself

“Regulatory, Compliance and Legal Risks We are subject to statutory, regulatory and legal developments that could have a material adverse impact on our business. Regulatory activity affecting the retail sector is dynamic, posing the potential risk of fines and additional operating costs associated with compliance. Additionally, defending against lawsuits and other proceedings may involve significant expense and divert management’s attention and resources from other matters.”

Annual report 2026A · The company itself

“Koncernen ställs inför risker som rör kontrollen av värdekedjan med avseende på efterlevnaden av uppförandekoden och mer specifika risker som rör mänskliga rättigheter och anti-korruption. Dessutom löper koncernen risk när det gäller att säkerställa att leverantörerna stödjer och uppfyller koncernen kvalitets- och säkerhetsstandarder.”

Annual report 2024A · The company itself

“Regulation on aqua farming Several markets experience increased public scrutiny towards aquaculture including more tight governmental regulation on operations and future growth. This can have a significant impact on farming cost and the willingness to invest in the industry as we have seen in Norway, Chile, Australia, West Canada and Iceland in recent years.”

Annual report 2025A · The company itself

“Forced and child labour is strictly prohibited, and all work must be voluntary, with reasonable working hours and remuneration above the legal minimum.”

Annual report 2025A · The company itself

“At BioMar, we are committed to ensuring that human and labour rights are respected and upheld throughout our value chain. Our Code of Conduct for Suppliers, our Responsible Sourcing Policy and our Human Right Policy define this commitment and set the standards expected of all our business partners. Our Code of Conduct for Suppliers outlines our requirements for responsible sourcing of raw materials and reflect our dedication to integrity, sustainability and human rights at every stage of the value chain.”

Annual report 2025A · The company itself

“In real estate, we have seen an increased focus toward rent regulation as a means to address residential affordability caused by undersupply of housing in certain markets in the U.S. and Europe. Such regulation has contributed to adverse operating performance in certain parts of our residential real estate portfolio, including by moderating rent growth in certain geographies and markets.”

Annual report 2025A · The company itself

“Additionally, our employees in certain countries are represented by works councils and/or trade unions. We are required to consult with works councils on certain matters (such as our Transformation Program), acquisitions and divestitures, and other matters that could impact our labor force. Consultation may not be completed on terms satisfactory to us and could result in increases in our cost of labor, diversion of management's attention away from operating our business, delays in certain initiatives, and expose us to claims and litigation.”

Annual report 2025A · The company itself

“S1-8 Kollektivavtalstäckning och social dialog 84% av de anställda omfattades under 2024 av kollektivavtal (2023: 83%) och alla anställda hade arbetstagarföreträdare (2023: 100%).”

Annual report 2024A · The company itself

“Regulatory Environment As a global company, we are governed by federal, state, local and international laws of general applicability relating to, among other things, employment, labor, privacy and data protection, governance and securities, anti-corruption, fraud and abuse (including anti-kickback and false claims laws), competition, trade and export controls. In general, the scope and complexity of regulations applicable to our business has increased over time.”

Annual report 2025A · The company itself

“Human Capital Management As of June 30, 2026, we had approximately 16,000 full-time associates in 28 countries. None of our U.S. employees are represented by a labor union. In some countries outside the U.S., we have works councils, or we are required by local law to enter into and/or comply with collective bargaining agreements.”

Annual report 2026A · The company itself

“Health, Safety and Wellness We are committed to providing a safe workplace. We continuously strive to meet or exceed all laws, regulations, and accepted practices pertaining to workplace safety. We have developed extensive safety policies, standards, and procedures to which all associates are required to comply.”

Annual report 2026A · The company itself

“We have completed several acquisitions that have introduced us to various new geographic markets, subjecting us to additional non-U.S. laws, regulations and policies which did not previously apply to us. These laws and regulations are complex, change frequently, have become more stringent over time, could increase our cost of doing business, and could result in conflicting legal requirements.”

Annual report 2025A · The company itself

“Enligt branschorganisationen Kompetensföretagens estimat var totala marknaden för bemanning, rekrytering, och omställning ned med ungefär en tiondel från 2023 till 2024. Utöver generell konjunkturell motvind påverkades branschen även av att 24-månadersregeln trädde i kraft i oktober.”

Annual report 2024A · The company itself

“Our business depends upon compliance with numerous government regulations. Our operations may be regulated and licensed by various federal, state, and local transportation agencies in the United States and similar governmental agencies in foreign countries in which we operate.”

Annual report 2025A · The company itself

“totalresultat förändringar i eget kapital förändringar i eget kapital över kassaflöden bolagsstyrningsrapporten CAMURUS ÅRSREDOVISNING 2024 FINANSIELL INFORMATION/RISKER Varuförsörjning och hantering av narkotiska preparat CAM2038 (inklusive Buvidal och Brixadi) innehåller narkotiska preparat eller s.k. kontrollerade ämnen och är därför föremål för särskilda föreskrifter, t. ex. i fråga om framställning, handhavande, import och export. Underlåtenhet av Camurus, dess samarbetspartners, kontraktstillverkare eller distributörer att efterleva dessa regler och etiska normer kan resultera i avbrott i försörjningskedjan, administrativa, civilrättsliga eller straffrättsliga sanktioner som skulle kunna ha en väsentligt negativ inverkan på Camurus verksamhet, finansiella ställning och resultat.”

Annual report 2024A · The company itself

“For example, we have a large number of customer accounts in our credit card and auto lending businesses and we have made the strategic choice to originate and service subprime credit card and auto loans, which typically have higher delinquencies and charge-offs than prime customer accounts. As a result, we have significant involvement with credit bureau reporting and the collection and recovery of delinquent and charged-off debt, primarily through customer communications, the filing of litigation against customers in default, the periodic sale of charged off debt and vehicle repossession. These and other consumer lending activities are subject to customer complaints and enhanced legal and regulatory scrutiny from regulators, courts and legislators.”

Annual report 2025A · The company itself

“Regulation or regulatory guidance restricting executive compensation, as well as evolving investor expectations, may limit the types of compensation arrangements that we may enter into with our most senior leaders and could have a negative impact on our ability to attract, retain and motivate such leaders in support of our long-term strategy.”

Annual report 2025A · The company itself

“Furthermore, both Capsol and its customers could be exposed to cybersecurity threats, which might result in system downtime, loss of intellectual property, To mitigate regulatory and supply chain risks, Capsol conducts regular due diligence on suppliers and partners to ensure compliance with ethical and environmental standards.”

Annual report 2024A · The company itself

“We are subject to extensive tax liabilities imposed by multiple jurisdictions, including but not limited to state and federal income taxes, indirect taxes (excise, sales/use, and gross receipts taxes), payroll taxes, property taxes, and tobacco/nicotine taxes.”

Annual report 2026A · The company itself

“Our business is subject to extensive governmental laws and regulations that include, but are not limited to, those relating to environmental protection and remediation; the preparation, transportation, storage, sale and labeling of food and other products; consumer protection and anti-trust laws and regulations; minimum wage, overtime, immigration and other employment, labor and employee benefits-related laws and regulations; the Americans with Disabilities Act; legal restrictions on the sale of alcohol, tobacco and nicotine products, money orders, lottery/lotto and other age-restricted products; information security, privacy and artificial intelligence law and regulations and Payment Card Industry Data Security Standards and similar requirements; compliance with the Federal Motor Carriers Safety Administration regulations; and, securities laws and Nasdaq listing standards.”

Annual report 2026A · The company itself

“Our global operations span a variety of legal regimes, subjecting us to numerous complex, diverse, evolving, and at times potentially inconsistent or conflicting laws and regulations in a number of areas, including labor and employment, advertising, 19 Table of Contents e-commerce, tax, trade, import and export controls, economic and trade sanctions, anti-corruption, data privacy and security requirements, competition, environmental, social, and governance, and health and safety.”

Annual report 2025A · The company itself

“Vår tillverkningsanläggning i Frankrike omfattas av kollektivavtal och det finns ett samarbete med lokala fackföreningar för att reglera anställningsvillkoren. Arbetsförhållandena hos tredjepartstillverkaren i Sverige regleras också av kollektivavtal som omfattar anställningsvillkoren på arbetsplatsen.”

Annual report 2024A · The company itself

“Leverantörsutvärderingar för att säkerställa regelefterlevnad Det är av yttersta vikt att vår leverantörskedja följer lokal arbetslagstiftning, säkerhetskrav, bästa praxis och koncernens policyer. Vi har en process för att bedöma och kontrollera leverantörer av varor och tjänster till våra produkter.”

Annual report 2024A · The company itself

“Table of Contents As of September 30, 2025, approximately 24% of our global employees were covered by collective bargaining agreements, nearly all of whom were employees located outside of the U.S.”

Annual report 2025A · The company itself

“Maintaining appropriate staffing in our restaurants requires precise workforce planning, which has become more complex due to predictive scheduling laws (also called “fair workweek” or “secure scheduling”) and “just cause” termination legislation in certain geographic areas where we operate.”

Annual report 2025A · The company itself

“Compliance Risk Financial institutions are subject to many laws, rules, and regulations at both the federal and state levels. These broad-based laws, rules, and regulations include, but are not limited to, expectations relating to anti-money laundering, lending limits, client privacy, fair lending, prohibitions against unfair, deceptive, or abusive acts or practices, protections for military members as they enter active duty, and community reinvestment.”

Annual report 2025A · The company itself

“Cloettas Uppförandekod för leverantörer inkluderas i samtliga leverantörsavtal.”

Annual report 2024A · The company itself

“As part of our supplier’s due diligence process, we require all partners and suppliers to align with our expectations regarding regulatory compliance, quality assurance, environmental responsibility, and health and safety standards. All our major suppliers had to complete our Supplier Declaration Form, where we evaluate key aspects such as adherence to the Transparency Act, human rights practices, environmental impact reduction, and ethical business conduct.”

Annual report 2024A · The company itself

“Workers' performance can be negatively impacted by EHS and labour conditions, which could lead to situations of supply or distribution interruptions due to strikes or turnover contagion.”

Annual report 2025A · The company itself

“To manage the material impacts and risks associated with the workers in our value chain, we require our suppliers and distributors to adhere to our Global Human Rights Policy and Codes of Conduct.”

Annual report 2025A · The company itself

“It outlines the expectations for compliance concerning material topics, including ensuring equal treatment and promoting diversity, requiring fair compensation and reasonable working hours, and ensuring safe working environments.”

Annual report 2025A · The company itself

“The general process for engagement with our value chain workers is primarily done through the supplier third-party audit programme in high-risk countries. The programme addresses actual and potential impacts.”

Annual report 2025A · The company itself

“Currently, we do not have any strategic targets to track the effectiveness of our policies and actions regarding our workers in the value chain.”

Annual report 2025A · The company itself

“At Coloplast, the sales and marketing, as well as regulatory functions, may face certain challenges related to corruption and bribery, given the nature of our industry; however, we ensure all employees are trained in Coloplast BEST and as part of the Strive25 strategy, we aimed for 100% of white collars trained in the code.”

Annual report 2025A · The company itself

“Our Supplier Code of Conduct outlines our expectations to all Coloplast’s suppliers and sets out requirements and expectations for their business ethics and compliance with labour and human rights. For high-risk approved and conditionally approved Bill of Materials (BOM) suppliers, Contract Manufactures and Upstream Distributors we conduct audits and inspections to verify compliance with the Supplier Code of Conduct.”

Annual report 2025A · The company itself

“Governmental Regulation and Environmental Matters Our operations are subject to various federal, state and local laws and regulations, including: (i) licensing requirements applicable to engineering, construction and service technicians, (ii) building and MEP codes and zoning ordinances, (iii) regulations relating to consumer protection, including those governing residential service agreements, (iv) special bidding and procurement requirements on government projects, (v) wage and hour regulations, and (vi) regulations relating to worker safety and protection of the environment.”

Annual report 2025A · The company itself

“Consti noudattaa työlainsäädäntöä ja rakennusalan TESia sekä suosituksia, ja sillä on RALAtyöturvallisuussertifikaatti.”

Annual report 2025A · The company itself

“Consti noudattaa Suomen työlainsäädäntöä ja on sitoutunut oikeudenmukaisiin työsuhteen ehtoihin. Consti noudattaa liiketoiminnassaan sovellettavia työehtosopimuksia.”

Annual report 2025A · The company itself

“3.2.5 Toimenpiteet (S2-4) Rakennusprojekteissa alihankintaketjun vastuullisuus varmistetaan ennakoivasti tarkistamalla yritysten taustat ja yhteiskuntavelvoitteiden suorittamisen status tarjousvaiheessa Vastuu Groupin yrityshausta saatavalla raportilla.”

Annual report 2025A · The company itself

“Constin liiketoiminnan ja hallinnon vastuullisuutta ohjaavat Suomen osakeyhtiöja arvopaperimarkkinalait, tilaajavastuulaki sekä muu Constia koskeva lainsäädäntö, Consti Oyj:n yhtiöjärjestys, yhtiön hallituksen hyväksymät arvot ja eettiset toimintaperiaatteet sekä listayhtiöitä koskevat Nasdaq Helsinki Oy:n säännöt ja ohjeet.”

Annual report 2025A · The company itself

“Consti edellyttää aliurakoitsijoiltaan Vastuu Group Oy:n Luotettava Kumppani -palvelun jäsenyyttä tai vastaavien tilaajavastuulain vaatimien asiakirjojen toimittamista sekä Constin eettisiin ohjeisiin sitoutumista.”

Annual report 2025A · The company itself

“Constin strategiakauden 2024–2027 keskeiset kestävyystavoitteet ovat ilmastonmuutoksen hillitseminen, työturvallisuuden ja työhyvinvoinnin edistäminen ja toimialan vastuullisten toimintatapojen kehittäminen.”

Annual report 2025A · The company itself

“In addition to federal directives, there is a complex and evolving patchwork of state laws and regulations governing the use, storage, and disposition of human reproductive materials, including embryos, gametes, and other human tissue. States vary widely in their approaches to assisted reproductive technologies, including IVF, embryo cryopreservation, and gamete donation. As state legislatures continue to respond to evolving ethical, legal, and technological considerations, ongoing monitoring and adaptation are essential to maintaining compliance and continuity of care.”

Annual report 2025A · The company itself

“OPERATIVA RISKER Riskområde S | K Beskrivning Hantering POLITISKA BESLUT, LAGAR OCH REGELVERK Corems verksamhet påverkas av politiska beslut, lagar och regelverk. Förändringar kan innebära ändrade förutsättningar för verksamheten liksom effekter såsom ökade kostnader, ökade behov av resurser, minskade intäkter, påverkan på finansiering eller framtida investeringsmöjligheter.”

Annual report 2024A · The company itself

“We are subject to a wide and growing array of federal, state, local and international laws and regulations relating to (among other things), product and food safety, marketing, information security and privacy, labor and employment, imports and customs, transportation, intellectual property, anti-corruption, and environmental or social matters. These laws and regulations may expand mandatory reporting, increase the scope and complexity of matters that we are required to regulate, assess, and disclose, potentially limit our sourcing flexibility or require extensive system or other changes that could increase the cost of doing business.”

Annual report 2025A · The company itself

“The Company must also maintain constructive relationships with the trade/labor unions that represent certain employees under collective agreements. Failure to do so could mean that the Company cannot renegotiate on appropriate terms the relevant collective agreements upon expiration and may face strikes or work stoppages as a consequence. Poor labor relations could create reputational risk for the Company and/or disrupt our businesses, raise costs, and reduce revenues and earnings from the affected locations, with potential adverse effects on the results of operations and financial condition of the Company.”

Annual report 2025A · The company itself

“Approximately 20,000 of our employees worldwide were represented by various unions under collective bargaining agreements that expire between 2026 and 2030.”

Annual report 2025A · The company itself

“Among these are the following: PBM Laws and Regulation - Legislation and/or regulations seeking to regulate PBM activities in a comprehensive manner have been proposed or enacted in a majority of states. This legislation could adversely affect the Company’s ability to conduct business on commercially reasonable terms in states where the legislation is in effect and the Company’s ability to standardize its PBM products and services across state lines.”

Annual report 2025A · The company itself

“The Company’s PBM service contracts, including those in which the Company assumes certain risks under performance guarantees or similar arrangements, are generally not subject to insurance regulation by the states. However, state departments of insurance are increasing their oversight of PBM activities due to legislation passing in nearly all states requiring PBMs to register or obtain a license with the department, authorizing agencies to conduct market conduct examinations and other audits of our licensed entities. In addition, rulemaking in a number of states expands the underlying statutory law particularly with respect to the scope of application to pharmacy appeals and reimbursement, transparency reporting, PBM compensation, network design, member cost sharing and pharmacy audits.”

Annual report 2025A · The company itself

“Corporate Practice of Medicine - The Company is subject to various state laws, regulations and legal and administrative decisions that restrict the corporate practice of medicine and fee splitting. The corporate practice of medicine doctrine generally prohibits corporate entities from practicing medicine or employing physicians (and, in some cases, other providers) to provide professional medical services. The doctrine reflects a variety of historical public policy concerns, including concerns that (a) allowing corporations to practice medicine or employ physicians will result in the commercialization of the practice of medicine, (b) a corporation’s obligation to its shareholders may not align with a physician’s obligation to his/her patients and (c) employment of a physician by a corporation may interfere with the physician’s independent medical judgment.”

Annual report 2025A · The company itself

“For example, laws in Arkansas, Louisiana, North Dakota and Oklahoma have attempted to limit PBM practices and have been subject to recent lawsuits.”

Annual report 2025A · The company itself

“These difficulties may be amplified by evolving restrictions on immigration, travel, or availability of visas for skilled technology workers. Current and future restrictions on the availability of visas, increased costs of visas, or delays in the issuance of visas could impair our ability to employ skilled professionals.”

Annual report 2025A · The company itself

“These programs may also have complex eligibility requirements that vary across states, including states that may require citizen enrollees to provide documented proof of citizenship, as well as recent requirements in the OBBBA that introduce work requirements for certain “able-bodied” adult beneficiaries, among other things, which could negatively impact our patient based with an ESRD disability. On balance, these eligibility requirements are part of an overarching phase down of federal Medicaid expenditures in the OBBBA, along with provisions such as higher cost-sharing for certain patients and limitations on state funding mechanisms, known as provider taxes and state-directed payments. If these and other changes result in decreased patient volumes and revenue, substantially reduced Medicaid payments, reduction or delay in receipt of payment 30 for dialysis and related services or increased costs for submitting claims or otherwise managing Medicaid program patients, it could have a material adverse impact on our business, results of operations, financial condition and/or cash flows.”

Annual report 2025A · The company itself

“Although we require compliance with environmental, labor, ethical, health, safety, and other business standards and conduct periodic audits, we do not directly control the practices of our independent manufacturers or suppliers. As we continue to diversify within Southeast Asia, monitoring compliance across a broader supplier base may be more complex.”

Annual report 2026A · The company itself

“These laws and regulations may limit the amount of oil and natural gas we can produce from our wells or limit the number of wells or the locations at which we can drill. Moreover, each state generally imposes a production or severance tax with respect to the production and sale of oil, natural gas and natural gas liquids within its jurisdiction.”

Annual report 2025A · The company itself

“For example, on October 1, 2019, PHMSA published final rules to expand its integrity management requirements and impose new pressure testing requirements on regulated pipelines, including certain segments outside High Consequence Areas. Also, on November 15, 2021, PHMSA published a final rule extending reporting requirements to all onshore gas gathering operators and establishing a set of minimum safety requirements for certain gas gathering pipelines with large diameters and high operating pressures, and, on August 24, 2022, PHMSA published a final rule strengthening integrity management requirements for onshore gas 18 Table of Contents transmission lines, bolstering corrosion control standards and repair criteria, and imposing new requirements for inspections after extreme weather events.”

Annual report 2025A · The company itself

“If safety standards were to become more stringent in the future, it could cause us, like other similarly situated pipeline operators, to install new or modified safety controls, pursue additional capital projects or conduct maintenance programs on an accelerated or expanded basis, any or all of which tasks could result in our incurring increased operating costs that could have a material adverse effect on our results of operations or financial position.”

Annual report 2025A · The company itself

“Vi arbetar strategiskt för att uppnå jämställdhet och mångfald i organisationen och driver program för att främja våra medarbetares hälsa och välmående.”

Annual report 2024A · The company itself

“In addition, significant changes in laws or regulations that impact our relationship with our workforce, in areas such as wage and hour, health care, scheduling and leave, labor relations or workplace safety, could increase our expenses and adversely affect our operations.”

Annual report 2026A · The company itself

“We may be exposed to product recalls and adverse public relations if our products are alleged to have defects, to cause property damage, to cause injury or illness, or if we are alleged to have violated governmental regulations.”

Annual report 2025A · The company itself

“The TE reform, which came into force at the beginning of the year, has in turn caused challenges for the volume and effectiveness of employment services.”

Annual report 2025A · The company itself

“• Collective agreements, where Eezy aims to get reforms that take account of changes in working life, increase flexibility and opportunities for local agreements and improve business conditions. • Promoting labour migration, where Eezy aims to increase labour migration, improve the conditions for labour migration, clarify and simplify regulations, administrative practices or permit processes that prevent or slow down entry • Education policy, where Eezy aims to make education and training more relevant to the needs of working life and businesses, and to increase cooperation between businesses and educational institutions.”

Annual report 2025A · The company itself

“Eezy influences matters that are important to the company's business and the operation of its staffing business. The lobbying work is primarily carried out through or with Eezy's employers' association, the Employers' Association of the Service Sector (PALTA ry), and/or the Confederation of Finnish Industries (EK). The channels of influence are the PALTA and EK working groups, background and preparatory groups and committees in which Eezy is represented.”

Annual report 2025A · The company itself

“Increasing regulatory requirements for due diligence and transparency may necessitate additional resources to screen, monitor, and manage the relationship with third parties that Elkem interact with, including customers, intermediaries, and suppliers. Elkem must adhere to numerous sanctions and trade regulations, financial crime legisl tion, and laws enacted to protect the human rights of people a ff ected by Elkem’s operations.”

Annual report 2024A · The company itself

“EG7 är verksamt i flera olika jurisdiktioner över hela världen, av vilka många har sina egna lokala lagar och regler som specifikt hänför sig till spelverksamheten. Företagets bristande efterlevnad eller bedömd bristande efterlevnad av någon av dessa lokala lagar och förordningar kan leda till att sådana spel måste dras tillbaka från sådana jurisdiktioner, vilket kan ha en väsentlig negativ inverkan på företagets intäkter, såväl som dess rykte och ekonomiska skick.”

Annual report 2024A · The company itself

“Många regeringar svarar med cybersäkerhetspolicyer och -förordningar, vilket kommer att ställa ökade krav på telekom- och IT-branschen att skydda nätverk, data och abonnenter, och mildra geopolitiska risker vid tillhandahållandet av tjänster.”

Annual report 2024A · The company itself

“Suurten kiinteähintaisten projektien kannattavuus edellyttää tarkkaa hinnoitteluarviota sekä projektinhallintaa. Lisäksi viranomaissääntelyn ja -rajoitteiden muutoksilla ja niihin liittyvällä epävarmuudella voi olla vaikutusta kannattavuuteen.”

Annual report 2025A · The company itself

“Norwegian authorities have introduced several laws and measures in recent years to counteract and prevent social dumping and market crime in the construction industry. For example, a minimum wage has been established for construction workers. Moreover, the authorities have implemented 'seriousness requirements' for procurements in both the construction and cleaning sectors.”

Annual report 2024A · The company itself

“Staffing companies registration Contractors are required to use personnel exclusively from staffing companies registered with the Norwegian Labour Inspection Authority. They must also document that the hiring company has a nationwide collective agreement. If such an agreement is not in place, hiring is permitted solely as a temporary replacement for an absent employee.”

Annual report 2024A · The company itself

“Approval for cleaning companies All cleaning companies working for Entra must be approved by the Norwegian Labour Inspection Authority. At the start of the contract, the company should have either an "application under processing" or an "HMS card order under processing."”

Annual report 2024A · The company itself

“EQT:s strategiska initiativ för att skala upp och växa inom private wealth-segmentet ökar EQT:s regulatoriska exponering. Högre kostnader för EQT kan även uppkomma till följd av ett ökat globalt fokus på beskattning av private equity, med fortsatt osäkerhet kring den skattemässiga behandlingen av carried interest.”

Annual report 2024A · The company itself

“I 2024 ble det forhandlet frem flere tariffavtaler med relevante fagforeninger. Noen av disse var hovedoppgjør som dekket både den årlige lønnsøkningen og andre kompensasjonselementer. Disse ble satt i verk på forskjellige steder og for ulike typer personell på tvers av organisasjonen.”

Annual report 2024A · The company itself

“Europris has reported according to the Norwegian Transparency act since 2022.”

Annual report 2024A · The company itself

“In 2024 the group had two recalls in segment Sweden The quality assurance department establishes stringent requirements and ensure that suppliers have the necessary expertise to comply with current laws and regulations.”

Annual report 2024A · The company itself

“Collaboration with NAV on internships, training and language practice Through collaboration and business relationships with NAV, Europris prioritises creating opportunities for individuals to gain skills, return to the workforce, and support local communities.This approach contributes to both individual development and organisational success, aligning with the group’s strategy.”

Annual report 2024A · The company itself

“Europris works with NAV to provide opportunities for individuals outside the labour market to gain work experience and re-enter the job force. This initiative is important, as it enables Europris to contribute to broader value creation by helping individuals gain valuable work experience and rejoin the work force.”

Annual report 2024A · The company itself

“Before an order is placed, goods are controlled at the production site to ensure they meet demands of international and national legislation. This includes third party documentation which is sent to the Norwegian quality assurance department for approval.”

Annual report 2024A · The company itself

“A significant portion of the Evergy Companies' workforce is represented by five local unions of the IBEW and one local union of the UGSOA. The Evergy Companies currently have labor agreements that expire at varying times from 2026 through 2028. A failure to successfully negotiate these collective bargaining agreements could result in a labor disruption and have an adverse impact on the Evergy Companies' operations and results of operations.”

Annual report 2025A · The company itself

“In addition, various factors, including underperformance of plan investments and changes in law or regulation, could increase the required contribution amount to fund our pension plan in the future.”

Annual report 2025A · The company itself

“Labor disputes, work stoppages or an inability to negotiate future collective bargaining agreements on commercially reasonable terms, as well as the increased competition for talent or the intentional misconduct of employees or contractors, may also have an adverse effect on our business, financial position and results of operations.”

Annual report 2025A · The company itself

“All U.S. employees at FedEx are covered by the Railway Labor Act of 1926, as amended (the “RLA”), while labor relations within the U.S. at our other companies are governed by the National Labor Relations Act of 1935, as amended (the “NLRA”). Under the RLA, groups that wish to unionize must do so across nationwide classes of employees.”

Annual report 2026A · The company itself

“Congress has, in the past, considered adopting changes in labor laws that would make it easier for unions to organize units of our employees. For example, there is always a possibility that Congress could remove most FedEx employees from the jurisdiction of the RLA, thereby exposing the FedEx network to sporadic labor disputes and the risk that small groups of employees could disrupt the entire air/ground express network.”

Annual report 2026A · The company itself

“Adverse publicity or sensationalism across media channels (whether or not justified) relating to activities including, but not limited to, the following by our team members or others with whom we do business (over whom we may have little or no control) could tarnish our reputation and reduce the value of our brand and goodwill: customer service mishaps, accidents, catastrophes, or incidents involving aircraft, vehicles, or facilities operated by us or our service providers; low safety or service levels; data breaches, cyberattacks, or technology infrastructure disruptions; utilization of emerging technologies such as AI; allegations of noncompliance with laws or claims that result in litigation; the shipment of certain items pursuant to our obligation as a common carrier operating under federal law; labor relations and workforce reductions or disruptions; our advertising campaigns, sponsorship arrangements, or marketing programs; our sustainability goals and related progress; our political activities and expenditures; or our executive compensation practices.”

Annual report 2026A · The company itself

“Congress has, in the past, considered adopting changes in labor laws that would make it easier for unions to organize units of our employees. For example, there is always a possibility that legislative or administrative actions, or judicial decisions, could attempt to remove our employees from the jurisdiction of the RLA.”

Annual report 2026A · The company itself

“The trucking industry is also subject to regulatory and legislative changes from a variety of other governmental authorities, which address matters such as increasingly stringent environmental regulations, occupational safety and health regulations, limits or restrictions on vehicle weight and size and types of shipments transported, port security, driver hours of service, driver meal and rest breaks, and drug and alcohol testing.”

Annual report 2026A · The company itself

“We are subject to the costs and potential adverse effect of compliance with ELD regulations and guidance, including the operation of our fleet and safety management systems on the ELD hardware and software platform.”

Annual report 2026A · The company itself

“Certain safety performance information, including information derived from SMS, is publicly available. Adverse safety performance metrics, regulatory findings, safety ratings, or other unfavorable safety-related information could negatively affect our reputation and customer relationships, reduce demand for our services, and adversely affect our business and results of operations.”

Annual report 2026A · The company itself

“In June 2026, the U.S. House of Representatives passed the Faster Labor Contracts Act which, if enacted, would alter the process for negotiating initial collective bargaining agreements following union organization efforts. More broadly, Congress may consider additional labor legislation that could strengthen employee organizing rights, facilitate union representation, or otherwise increase labor-related costs and operational risks.”

Annual report 2026A · The company itself

“•Union disputes or other labor disruptions could adversely affect our operations and financial results. •Our strategic relationships with major customers create risks. •Evolving regulations relating to data center development, energy consumption, and utility infrastructure could adversely affect demand for our products and services. •Changes in our effective tax rate, the adoption of new tax legislation, or exposure to additional tax liabilities has in the past adversely affected, and could in the future adversely affect, our results of operations and financial condition. •Our debt level may create limitations.”

Annual report 2026A · The company itself

“Certain of our employees are represented by labor unions or works councils, and we have experienced heightened union organizing activity in certain regions. The unionization of significant employee populations could result in increased labor costs or other terms that are less favorable to us, and increased risk of strikes and work stoppages.”

Annual report 2026A · The company itself

“At the same time, conflicting and opposing views on environmental topics, including commitments addressing climate issues, are becoming increasing political, subject to scrutiny from private sectors and government authorities, with such conflicting and opposing views potentially exposing us to environmental or political activist campaigns; and •we are also required to comply with ever changing labor and employment laws and regulations in multiple jurisdictions. These changes could negatively impact our business or financial position.”

Annual report 2025A · The company itself

“In 2024, MSHA enacted the Safety Program for Surface Mobile Equipment regulation and finalized a regulation, which reduces permissible exposure limits of respirable crystalline silica (Silica Rule). The Silica Rule is being challenged in federal court, and in November 2025, MSHA announced that it will reconsider the Silica Rule.”

Annual report 2025A · The company itself

“These laws and regulations touch all aspects of our operations, the most significant of which include how we extract, process and explore for minerals and how we conduct our business, including laws and regulations governing matters such as mining rights, environmental and reclamation matters, climate change, occupational health and safety, and human rights.”

Annual report 2025A · The company itself

“We are also subject to extensive regulation of worker health and safety. Our mines are inspected on a regular basis by government regulators who may issue citations and orders when they believe a violation has occurred under applicable mining regulations. If inspections result in an alleged violation, we may be subject to fines and penalties and, in instances of alleged significant violations, our mining operations or industrial facilities could be subject to temporary or extended closures.”

Annual report 2025A · The company itself

“Through its subsidiaries, the company is active in a highly regulated online gaming market as well as several markets which are not yet regulated. Legislation concerning online gaming is under review in certain jurisdictions, and in some circumstances, previous opportunities to offer gaming products to certain customers based in some markets on principles of freedom to provide services may be impacted by new legal restrictions being imposed.”

Annual report 2024A · The company itself

“We require our partners to ensure a healthy and safe working environment and to comply with applicable labor market legislation in the countries where we operate (Denmark and Germany).”

Annual report 2025A · The company itself

“Any legal and regulatory changes may impact our operations in the future. In addition, the current U.S. Presidential administration has indicated that it plans to pursue changes to various regulatory policies from prior administrations, some of which have already started to be implemented. As a result, there is uncertainty as to how these and other potential legal and regulatory changes may impact our business.”

Annual report 2025A · The company itself

“Furthermore, changes to immigration and work authorization laws and regulations could make it more difficult for employees to work in or transfer to one of the jurisdictions in which we operate.”

Annual report 2025A · The company itself

“• Arbeidstid skal være regulert i kontrakt, men vi kan risikere å kjøpe tjenester fra leverandører som utnytter ansatte og ikke overholder regulert arbeidstid.”

Annual report 2024A · The company itself

“Leverandører eller forretningspartnere til Gjensidige kan knyttes til saker hvor arbeidstakere er diskriminert basert på kjønn og/eller at kvinner og menn lønnes ulikt for likt arbeid. Dette kan føre til Vesentlige påvirkninger, risikoer og muligheter omdømmetap og tap av kunder.”

Annual report 2024A · The company itself

“Slik forpliktes våre leverandører til minimum å etterleve de 10 FN Global Compact-prinsippene.”

Annual report 2024A · The company itself

“For 2024 var status at 95 prosent hadde signert.”

Annual report 2024A · The company itself

“Vi ønsker et bredt spekter av ulike bakgrunner og erfaringer blant våre ansatte, slik at vi speiler mangfoldet i samfunnet. Å jobbe strukturert med mangfold kan gi økt produktivitet, innovasjon, bedre beslutningsprosesser, økt medarbeidertilfredshet og lavere turnover.”

Annual report 2024A · The company itself

“Competition for highly skilled personnel, particularly employees with technical and engineering skills, is frequently intense. Additionally, we are limited in our ability to recruit global talent by U.S. immigration laws and policies, including those related to H-1B visas. The demand for H-1B visas to fill highly-skilled jobs is greater than the number of H-1B visas available each year. In addition, new or modified immigration laws and policies may further limit the availability of H-1B visas, cause delays in the issuance of visas or increase the costs associated with H-1B visas, any of which could impact our ability to recruit, hire and retain qualified skilled personnel, which could adversely impact our business, operating results and financial condition.”

Annual report 2025A · The company itself

“Certifieringar och regelefterlevnad: Kraven att uppfylla och följa olika miljö-, sociala och styrningsfaktorer (ESG), branschstandarder och certifieringar skiljer sig åt såväl mellan länder, som inom länder, och i flera fall mellan städer.”

Annual report 2024A · The company itself

“GRK hallitsee näitä riskejä koko arvoketjussa Yritysvastuuvaatimusten avulla, joita sovelletaan sekä omassa toiminnassa että toimittajiin ja alihankkijoihin. GRK:n yritysvastuuvaatimukset edellyttävät, että kaikki toimijamme noudattavat työlainsäädäntöä, työehtosopimuksia sekä turvallisuusmääräyksiä.”

Annual report 2025A · The company itself

“GRK:lla on käytössä Rehdin toiminnan periaatteet sekä niihin liittyvä koulutus. Toimintaa ohjaavat lisäksi korruption vastaiset periaatteet sekä kilpailuoikeudellinen ohjeistus.”

Annual report 2025A · The company itself

“GRK:ssa on nollatoleranssi korruptiolle ja lahjonnalle ja strateginen tavoite olla kestävän rakentamisen edelläkävijä edellyttää myös eettistä hallintotapaa.”

Annual report 2025A · The company itself

“Human rights risks we are exposed to across the supply chain have been identified as: • Our suppliers and business partners across the globe with a different appreciation of human rights • Our crew and employee working conditions Our policies and actions Hafnia prohibits every form of modern slavery, human trafficking, forced labour, child labour, torture, personnel required to pay recruitment fees or deposits, destroy, confiscate, or conceal identity or immigration documents. Hafnia suppliers are required to strictly comply with the Suppliers Code of Conduct, and are expected to follow regulations prohibiting human trafficking, complying with all applicable laws in the countries from which they operate.”

Annual report 2022A · The company itself

“As a leader in the industry, we have an obligation to address and act as a role model in creating a fair, safe, and inclusive work environment, where everyone is encouraged and supported to achieve their full potential. We do this through extensive training at all levels, implementing our CARE (Collaborative, Ambitious, Reliable, Enduring) values to ensure our employees’ physical and mental health and safety, and by helping underrepresented individuals overcome the challenges they face in our sector.”

Annual report 2022A · The company itself

“We are working on improving gender diversity among our seafarers by designing an environment that everyone can thrive in. This includes • A strict code of conduct and anti-harassment policy implementation • Unconscious bias training onboard • Paid maternity leave • PPE equipment tailored especially to women • Provision of hygiene products Hafnia continues to be a committed signatory of the Charter for More Women in Shipping.”

Annual report 2022A · The company itself

“I tillägg till detta har HANZA under 2024 genomfört ett 15-tal leverantörsrevisioner i syfte att kontrollera efterlevnaden av koden. Vid utgången av 2024 ingick ca 10 procent av leverantörerna i utvärderingssystemen.”

Annual report 2024A · The company itself

“Lines of business written by small business and middle & large business are subject to rate regulation and written pricing increases or decreases that are partly in response to loss cost trends. Workers’ compensation rates are based on loss experience and are informed by data submitted through the National Council on Compensation Insurance ("NCCI"). Workers’ compensation rates have been under downward pressure for the industry due to favorable loss cost trends in recent years.”

Annual report 2025A · The company itself

“Statutory paid family and medical leave ("PFML") programs are a source of growth as the Company offers fully insured coverage or administers self-insured coverage for some of these programs. As of year-end 2025, thirteen states and the District of Columbia have enacted mandated PFML programs. Alabama, Arkansas, Florida, Kentucky, New Hampshire, South Carolina, Tennessee, Texas, Vermont, and Virginia have also created opt-in paid family leave programs, and additional states are considering adopting PFML programs.”

Annual report 2025A · The company itself

“State insurance departments regulate many of the premium rates we charge and also propose rate changes for the benefit of the insurance consumer at the expense of the insurer, which may not allow us to reach targeted levels of profitability. Moreover, regulators may seek to prohibit or constrain the use of certain underwriting and rating factors, which may affect our ability to price risks.”

Annual report 2025A · The company itself

“Our businesses must comply with regulations to control the privacy of customer, employee and third party data, and state, federal and international regulations regarding data privacy are becoming increasingly more onerous. A misuse or mishandling of confidential or proprietary information, including through artificial intelligence technology, could result in legal liability, regulatory action and reputational harm.”

Annual report 2025A · The company itself

“To achieve these objectives, we align our efforts around the following growth agenda: • grow our presence in existing markets; • achieve industry-leading performance in clinical, operational and satisfaction measures; • recruit and retain physicians and other health care professionals to meet the need for high-quality health services; • continue to utilize economies of scale to grow the Company; • pursue a disciplined development strategy; and • advance our digital and artificial intelligence (“AI”) capabilities.”

Annual report 2025A · The company itself

“Collective bargaining agreements covered approximately 5,570 employees, or approximately 28% of the Company’s employees worldwide. During 2026, agreements are expected to be negotiated for certain employees at six facilities, one of which is within the United States, comprising approximately 76% of total employees under collective bargaining agreements.”

Annual report 2025A · The company itself

“Med ett diversifierat nätverk av leverantörer finns det potentiella risker gällande arbetsförhållanden, särskilt inom leverantörer på lägre nivå i regioner där arbetsregleringar kanske inte tillämpas tillräckligt. Dessa risker kräver kontinuer - lig övervakning och strategiska ingripanden för att säkerställa att mänskliga rättigheter upprätthålls genom hela leverans - kedjan.”

Annual report 2024A · The company itself

“As of December 31, 2025, approximately 25 percent of people employed or managed by us globally and approximately 45 percent of people working in the U.S. were covered by various collective bargaining agreements that generally address pay rates, working hours, other terms and conditions of employment, certain employee benefits and orderly settlement of labor disputes.”

Annual report 2025A · The company itself

“Operators of hospitality properties also are subject to laws governing their relationship with employees, including minimum wage requirements, overtime, working conditions and work permit requirements. Our franchisees are responsible for their own compliance with laws, including with respect to their employees, minimum wage requirements, overtime, working conditions and work permit requirements.”

Annual report 2025A · The company itself

“If relationships with our employees or employees of our hotel owners or the unions that represent them become adverse, the properties we manage, franchise or lease have in the past and could in the future experience labor disruptions such as strikes, lockouts, boycotts and public demonstrations. A number of our collective bargaining agreements are in the process of being renegotiated, and, if more employees become unionized, we may be required to negotiate additional collective bargaining agreements in the future.”

Annual report 2025A · The company itself

“In addition, we are subject to a number of modern slavery, human trafficking and forced labor reporting, training and mandatory due diligence laws in various jurisdictions and expect additional statutory regimes to combat these crimes to be enacted in the future. The impact of these laws, such as the U.K.'s Modern Slavery Act 2015 and the German Supply Chain Due Diligence Act, and similar legislation on hotel operations could increase costs of operations and reduce our profits.”

Annual report 2025A · The company itself

“Työehto sopimusneuvottelut, mukaan lukien työehtosopimusten piiriin kuuluvien työntekijöiden osuus Oma toiminta tosiasiallinen positiivinen keskipitkä – Yhtiö noudattaa työehtosopimuksia, jotka takaavat yhdenvertaisen kohtelun sekä turvaavat voimassa ollessaan työrauhan. – Yhtiön työsuhdelinjaukset ovat riippuvaisia toimialakohtaisista työehtosopimuksista. – Työsuhteisiin sovelletaan yleissitovia sopimuksia ja toimialakohtaisesti neuvoteltuja työehtosopimuksia.”

Annual report 2025A · The company itself

“HKFoods kunnioittaa työntekijöiden yhdistymisvapautta ja oikeutta käydä työehtosopimusneuvotteluja. HKFoodsin työntekijät voivat vapaasti liittyä ammattiliittoihin ja osallistua niiden virallisten edustajien valintaan kunkin maan sovellettavien lakien ja työehtosopimusten mukaisesti.”

Annual report 2025A · The company itself

“Ökat fokus på konsumentskydd EU:s direktiv om kreditförvaltare och kreditinvesterare syftar till att främja utvecklingen av marknaden för förfallna lån samtidigt som låntagarnas rättigheter skyddas. Direktivet skulle ha implementerats i nationell lagstiftning innan 2024, men vissa medlemsstater ligger efter i implementeringen. De nationella lagstiftningarna som har implementerat direktivet innehåller nu krav på rättvis behandling av låntagare inklusive en kommunikation fri från trakasserier samt tydliga processer för klagomålshantering.”

Annual report 2024A · The company itself

“Our ability to meet our labor needs while controlling labor costs is subject to numerous factors, including increased market pressures with respect to prevailing wage rates, unemployment levels, and health and other insurance costs; the impact of legislation or regulations governing labor relations, employment, immigration, minimum wage, and healthcare benefits; changing demographics and expectations among the workforce; safety and security in our stores and other facilities; and our brand and reputation within the labor market.”

Annual report 2026A · The company itself

“Our costs of doing business could increase as a result of changes in, expanded enforcement of, or adoption of new federal, state, local or international laws, regulations and executive orders. We are subject to various U.S. federal, state and local laws and regulations, as well as international laws and regulations, that govern numerous aspects of our business.”

Annual report 2026A · The company itself

“Table of Contents Approximately 3,860 employees, or 26% of the U.S. workforce, are represented by labor unions in the United States. Within the United States, there are eight collective bargaining agreements with varying expiration dates between Howmet and various labor unions.”

Annual report 2025A · The company itself

“Moreover, changes in immigration policies may impair our ability to recruit and hire technical and professional talent globally.”

Annual report 2025A · The company itself

“Our operations and those of our suppliers and distributors could be adversely affected if manufacturing, logistics, or other operations in key locations, are disrupted for any reason, such as those described above or other economic, business, labor, environmental, public health, regulatory or political reasons.”

Annual report 2025A · The company itself

“In addition, there is existing and proposed legislation related to human rights, environmental and social responsibility (including tracing requirements related to forced labor prohibitions) for our operations, supply chain partners, and our products and services.”

Annual report 2025A · The company itself

“Främja jämställdhet, mångfald och inkludering. Våra policys fastställer att vi ska främja lika möjligheter och tillämpa nolltolerans mot diskriminering.”

Annual report 2024A · The company itself

“Newport News has three collective bargaining agreements covering represented employees, which expire in February 2030, December 2030, and April 2031. Ingalls has five collective bargaining agreements covering represented employees, all of which expire in March 2026.”

Annual report 2025A · The company itself

“Allt strängare regleringar för bensindrivna produkter stödjer dessutom tillväxten inom eldrivna alternativ.”

Annual report 2024A · The company itself

“States increasingly have been placing greater restrictions on the marketing practices of healthcare companies and have instituted pricing disclosure and other requirements for companies selling pharmaceuticals.”

Annual report 2025A · The company itself

“Uppförandekod för leverantörer och samarbetspartners En del av våra produkter, ingående material och komponenter, tillverkas i länder där arbetsförhållanden, miljöreglering och affärsetik, inklusive antikorruption kan variera. Löpande social och miljömässig utvärdering av kunder och leverantörer sker hos våra bolag, som genom nära och långvariga samarbeten har god insikt och kunskap kring leverantörskedjan.”

Annual report 2024A · The company itself

“Our business could suffer if we experience employee work stoppages, union and work council campaigns or other labor difficulties. As of December 31, 2025, we had over 21,000 employees of which approximately 6,100 were located in the United States. Of those employees located outside of the United States, a significant portion are represented by works councils and labor unions, and of those employees located in the United States, approximately 370 are represented by labor unions.”

Annual report 2025A · The company itself

“In order to sell our product through the pharmacy channel in the United States, we are required to work with intermediaries who have the appropriate pharmacy license for the applicable market. We are also subject to certain state laws regarding the professional licensure of our diabetes educators.”

Annual report 2025A · The company itself

“If we fail to comply with fraud and abuse and other healthcare regulations, including those relating to Medicare and Medicaid, we could be subject to substantial penalties and/or be excluded from participation in government programs. Our relationships with customers and third-party payors are subject to broadly applicable fraud and abuse and other healthcare laws and regulations that may constrain our sales, marketing, and other promotional activities by limiting the kinds of financial arrangements, including sales programs and certain customer and product support programs, we may have with hospitals, physicians, customers, or other potential purchasers of medical devices.”

Annual report 2025A · The company itself

“We are subject to complex and evolving laws and regulations worldwide that differ among jurisdictions and affect our operations in areas including, but not limited to: IP ownership and infringement; tax; import and export requirements; anti-corruption; foreign exchange controls and cash repatriation restrictions; data privacy and localization requirements; competition; advertising; employment and labor; product regulations; environment, health and safety requirements; and consumer laws.”

Annual report 2025A · The company itself

“We are subject to an increasing number of local, state, federal, and international laws, regulations, and rules and standards. These relate to, without limitation, labor, advertising and marketing, tax, financial services, AI, data privacy and security, electronic funds transfer, money transmission, lending, digital content, consumer protection, real estate, billing, e-commerce, promotions, quality of services, intellectual property ownership and infringement, import and export requirements, anti-bribery and anti-corruption, insurance, foreign exchange controls and cash repatriation restrictions, antitrust and competition, environmental, health and safety, and other regulated activities.”

Annual report 2026A · The company itself

“Det medför ett ansvar att visa kunderna att detta inkluderar den egna verksamheten. – Vi har fortsatt arbetet med att göra vår produktion och leverantörskedja ännu mer hållbar, och anslutit oss till SBTi med ambitiösa mål för minskade utsläpp av växthusgaser fram till 2050.”

Annual report 2024A · The company itself

“Under de senaste åren har fokus på att ta ansvar i leverantörsledet ytterligare ökat. Samtliga affärsområden arbetar aktivt med att få alla relevanta leverantörer, distributörer och agenter att signera bolagens uppförandekod. Även detta är ett minimikrav från Latour.”

Annual report 2024A · The company itself

“The failure to attract and retain qualified employees or to effectively control our labor costs could negatively affect our competitive position and operating results. Our ability to control labor costs and attract qualified personnel is subject to numerous external factors, including prevailing wages, labor shortages, the impact of legislation or regulations governing wages and hours, labor relations, immigration, healthcare and other benefits, other employment-related costs and the hiring practices of our competitors.”

Annual report 2025A · The company itself

“Increased nationalization and heightened “buy-local” policies and regulations could reduce the effectiveness and competitive differentiation enabled by our global delivery model and compound the existing talent shortage in key geographies.”

Annual report 2025A · The company itself

“Lønpolitik I 2025 har Jeudan arbejdet med videreudvikling af lønstruktur og -politik med fokus på transparens og objektivitet i løndannelsen. Dee arbejde understøer forberedelsen til EU's kommende løngennemsigtighedsdirektiv, der træder i kra i 2026, og som stiller krav om øget løntransparens og dokumentation af ligeløn.”

Annual report 2025A · The company itself

“Although we believe that our relations with the labor unions and works councils that represent our employees are generally good and we have experienced no material strikes or work stoppages recently, no assurances can be made that we will not experience in the future these and other types of conflicts with labor unions, works councils, other groups representing employees or our employees generally, or that any future negotiations with our labor unions will not result in significant increases in our cost of labor.”

Annual report 2025A · The company itself

“Politiska beslut och regeländringar kan leda till ändrade förutsättningar för K2A:s verksamhet. Det kan till exempel gälla beslut om förändrad skattelagstiftning, regelverk för banker, statliga stöd och planprocesser med mera.  K2A följer aktivt utvecklingen av lagar, regler och praxis inom de områden som berör K2A.  Analys av eventuella effekter och om möjligt proaktivt agerande.  Dialog med styrelse om påverkan och tänkta åtgärder.”

Annual report 2024A · The company itself

“Kalmar jatkoi myös valmistautumista tulevaan EU:n palkka-avoimuusdirektiiviin, jonka tavoitteena ovat palkkausrakenteet, joissa noudatetaan periaatetta sama palkka samanarvoisesta työstä. Tähän liittyen Kalmar otti käyttöön uuden työarkkitehtuurin hallintajärjestelmän. Järjestelmän strategisella käyttöönotolla voidaan lisätä korvausperiaatteiden läpinäkyvyyttä ja saada perusteellisempi ja tarkempi käsitys organisaation nykyisestä palkkajärjestelmästä.”

Annual report 2025A · The company itself

“Lamy Liaisons är en välkänd fransk aktör med djupgående sektorspecialisering som innehar några av de mest etablerade varumärkena för juridiska informationstjänster på den franska juridiska marknaden. Bolaget är marknadsledande inom arbetsrätt och har en stark marknadsnärvaro inom advokatbyråer och den offentliga sektorn.”

Annual report 2024A · The company itself

“Selcuk Ünlü, Head of Business Development i Region Nord Iga Kurowska, Head of Innovation i Region Syd | ÅRSREDOVISNING 2024 Rörelsesegment Karnov bedriver verksamhet i två geografiska segment: Region Nord (Danmark, Sverige och Norge) och Region Syd (Frankrike, Spanien och Portugal) | ÅRSREDOVISNING 2024 Region Nord Karnov och Norstedts Juridik är Danmarks och Sveriges ledande utgivare och leverantörer av juridisk information med ett nätverk av över 1 500 författare och experter samt en historia inom segmentet som sträcker sig 200 år tillbaka i tiden.”

Annual report 2024A · The company itself

“De nya riktlinjerna kommer att öka antalet förlossningar i behov av igångsättning och därmed krävs även nya, säkrare behandlingsalternativ i förlossningsvården.”

Annual report 2024A · The company itself

“New or more stringent laws or regulations, more restrictive interpretations of existing laws or regulations, or increased enforcement actions could increase our ongoing costs of global compliance, alter the environments in which we do business, or otherwise adversely affect our business, results of operations, or financial condition. The global regulatory landscape is subject to rapid and unexpected changes, and there has been a general trend toward increasingly stringent regulation and enforcement around the world in recent years.”

Annual report 2025A · The company itself

“Our collective bargaining agreements generally address working conditions, as well as wage rates and benefits, and expire over varying terms over the next several years.”

Annual report 2025A · The company itself

“Many of our employees that are involved in the manufacturing or distribution of our products are covered by collective bargaining agreements. Additional employees have sought and may continue to seek to be covered by collective bargaining agreements, which may be facilitated by changing labor laws and regulations.”

Annual report 2025A · The company itself

“However, potential headwinds (labor market, geo-political, rate environment) could impact the real estate markets and Key’s portfolio moving forward. A large portion of our clients are active in real estate, with most focused on the multifamily space, which has been the best performing real estate sector over the cycle.”

Annual report 2025A · The company itself

“A variety of factors outside of our control, such as difficulties in obtaining rights-of-way and permits or other regulatory approvals, have caused, and may continue to cause, delays in or cancellations of our construction projects.”

Annual report 2025A · The company itself

“We also prioritize physical, mental, and emotional health and wellness, and offer a variety of tools and resources to our employees so they can make informed health care decisions for themselves and their families.”

Annual report 2025A · The company itself

“In our insurance sales, even though conducted through a distribution partner, Global Atlantic is responsible under insurance regulations for the sales practices used by the distribution partner. In addition, even when the distribution partner conducts the review of whether a product is suitable for the individual, if such review is required, Global Atlantic is responsible under insurance regulations for the suitability review.”

Annual report 2025A · The company itself

“Furthermore, we may be subject to increased costs or experience adverse effects to our operating results if we are unable to renew collectively bargained agreements on satisfactory terms. Our financial condition and ability to meet the needs of our customers could be materially and adversely affected if strikes or work stoppages or interruptions occur as a result of delayed negotiations with union-represented employees both in and outside of the United States.”

Annual report 2025A · The company itself

“Occupational Safety and Health Administration requirements, the U.S.”

Annual report 2025A · The company itself

“There is significant competition in Macao and Singapore for managers and employees with the skills required to perform the services we offer and competition for these individuals is likely to continue. The Macao government requires we only hire Macao residents in our casinos for certain employee roles, including roles such as dealers.”

Annual report 2025A · The company itself

“From time to time, we recruit managers and employees from other countries to adequately staff and manage our properties, and certain Macao and Singapore government policies affect our ability to hire non-resident managers and employees in certain job classifications. Despite our coordination with the Macao and Singapore labor and immigration authorities to ensure our management and labor needs are satisfied, we may not be able to recruit and retain a sufficient number of qualified managers or employees for our operations or the Macao and Singapore labor and immigration authorities may not grant us the necessary visas or work permits.”

Annual report 2025A · The company itself

“We are subject to numerous state, federal and international laws and directives and regulations in the U.S. and abroad that involve matters central to our business, including but not limited to, data privacy and security, employment and labor relations, immigration, taxation, anti-corruption, anti-bribery, import-export controls, trade restrictions, internal and disclosure control obligations, securities regulation and anti-competition restrictions.”

Annual report 2026A · The company itself

“Shifts in public attitudes and policies toward immigration, as well as actual and proposed restrictions on employment-based visas, could impact our ability to attract, retain and develop skilled talent.”

Annual report 2026A · The company itself

“We are subject to extensive and complex laws and regulations that affect land development, homebuilding and apartment development processes, including laws and regulations related to zoning, permitted land uses, levels of density, building design, elevation of properties, water and waste disposal and use of open spaces. These regulations often provide broad discretion to the administering governmental authorities as to the conditions that must be met prior to development or construction being approved, if they are approved at all. We are also subject to determinations by governmental authorities as to the adequacy of water or sewage facilities, roads and other local services with regard to particular residential communities.”

Annual report 2025A · The company itself

“In addition, as of December 31, 2025, approximately 26% of our core workforce locations were unionized.”

Annual report 2025A · The company itself

“Även risker kopplade till miljö, klimatpåverkan, arbetsförhållanden och arbetslönevillkor, rätten till kollektiva förhandlingar samt mänskliga rättigheter och andra sociala risker kan vägas in vid bedömningarna och vara föremål för uppföljande granskningar och revisioner. Granskningar och uppföljningar är mer frekventa och sker oftare genom platsbesök hos mer betydande leverantörer som bedriver verksamhet i marknader eller regioner där risken för exempelvis mutbrott, brott mot mänskliga rättigheter, arbetsvillkor eller arbetslönevillkor samt negativ miljöpåverkan bedöms vara högre.”

Annual report 2024A · The company itself

“Under 2024 hade 12 (14) bolag något av följande ledningssystem för arbetsmiljö: OSHA/ OHSAS18001/ISO 45001.”

Annual report 2024A · The company itself

“Lifco accepterar inte tvångsarbete, modernt slaveri, människohandel eller barnarbete i någon del av sin värdekedja.”

Annual report 2024A · The company itself

“For instance, certain sports leagues have experienced labor disputes leading to threatened or actual player lockouts. Any such lockouts that result in shortened or canceled seasons would adversely impact our business to the extent that we provide ticketing services to the affected teams both due to the loss of games and ticketing opportunities as well as the possibility of decreased attendance following such a lockout due to adverse fan reaction.”

Annual report 2025A · The company itself

“Government Regulations We are subject to federal, state and local laws, both domestically and internationally, governing matters such as: •privacy and the protection of personal or sensitive information; •compliance with the United States Foreign Corrupt Practices Act, the United Kingdom Bribery Act 2010 and similar regulations in other countries; •primary ticketing and ticket resale services; •construction, renovation and operation of our venues; •licensing, permitting and zoning, including noise ordinances; •human health, safety, security and sanitation requirements; •the service of food and alcoholic beverages; •working conditions, labor, minimum wage and hour, citizenship and employment laws; •compliance with the Americans with Disabilities Act of 1990 (“ADA”), the United Kingdom’s Disability Discrimination Act of 1995 (“DDA”) and similar regulations in other countries; •hazardous and non-hazardous waste and other environmental protection laws; •sales and other taxes and withholding of taxes; •marketing activities via the telephone and online; and •historic landmark rules.”

Annual report 2025A · The company itself

“The regulations relating to our food service operations in our venues are many and complex. A variety of regulations at various governmental levels relating to the handling, preparation and serving of food, the cleanliness of food production facilities and the hygiene of food-handling personnel are enforced primarily at the local public health department level. We also must comply with applicable licensing laws, as well as state and local service laws, commonly called dram shop statutes.”

Annual report 2025A · The company itself

“We are also required to comply with the ADA, the DDA and certain state statutes and local ordinances that, among other things, require that places of public accommodation, including our websites as well as existing and newly constructed venues, be accessible to customers with disabilities. The ADA and the DDA require that venues be constructed to permit persons with disabilities full use of a live entertainment venue. The ADA and the DDA may also require that certain modifications be made to existing venues to make them accessible to customers and employees who are disabled.”

Annual report 2025A · The company itself

“A number of our existing collective bargaining agreements expire in any given year. Historically, we have been successful in renegotiating expiring agreements without any material disruption of operating activities, and management considers employee and union relations to be good.”

Annual report 2025A · The company itself

“Boardwalk Pipelines’ operations are subject to extensive federal, state, and local laws and regulations relating to protection of the environment and occupational health and safety. Such laws and regulations impose, among other things, restrictions, liabilities and obligations in connection with the generation, handling, use, storage, transportation, treatment and disposal of various substances, including hazardous substances and waste, and in connection with spills, releases, discharges and emissions of various substances into the environment. These laws include, for example, the CAA, the Clean Water Act, CERCLA, the RCRA, ESA, NEPA, OSHA and analogous state laws.”

Annual report 2025A · The company itself

“Bland annat drivs marknaden av ökad digitalisering, nya affärsmodeller och höjda regulatoriska krav. > Läs om drivkrafterna på vår marknad på sidan 23.”

Annual report 2024A · The company itself

“Flera underliggande trender driver marknaden och skapar möjligheter för Loomis Kontanthanterings- och betalningsmarknaden är konstant i snabb förändring, drivet av digitalisering, den allmänna makroutvecklingen, lagstiftning och en rörelse för rätten till kontanter, nya affärsmodeller i banksystemet och konsolidering.”

Annual report 2024A · The company itself

“Changes in, expanded enforcement of, or adoption of new federal, state or local laws and regulations governing minimum wage requirements, collective bargaining, the classification of exempt and non-exempt employees, the distinction between employees and contractors, other wage, labor or workplace regulations, health care, data privacy and cybersecurity, the sale and pricing of some of our products, transportation, logistics, international trade, responsible sourcing, supply chain transparency, taxes, unclaimed property, sustainability, the environment and climate change, including energy costs and consumption, could increase our costs of doing business or impact our operations.”

Annual report 2026A · The company itself

“Unionization efforts or other employee organizing activities could lead to higher people costs or reduce our flexibility to manage our employees which may negatively disrupt our operations.”

Annual report 2026A · The company itself

“We strive to maintain equal pay within our global employee population, meaning equal pay for equal work by geography. We have achieved gender pay equity globally and full pay equity in the United States and have continued to maintain it based on periodic analysis.(1) (1) We define full pay equity as including gender and race.”

Annual report 2026A · The company itself

“Supply Chain Wellbeing We strive to work with suppliers that share our values and collaborate with us to uphold ethical standards, address systemic challenges, and support the wellbeing of workers in the supply chain. Our Responsible Supply Chain program is built on three pillars: •Monitoring - Assessing and, in collaboration with suppliers, improving working conditions in facilities. •Integration - Integrating responsible purchasing practices across key lululemon strategies, processes, and tools. •Collaboration - Working with multi-stakeholder organizations, industry, and suppliers to support systemic change and impact.”

Annual report 2026A · The company itself

“Our ability to hire and retain employees may be negatively impacted by changes in immigration laws, regulations and procedures. Foreign nationals who are not U.S. citizens or permanent residents constitute an important part of our U.S. workforce, particularly in the areas of engineering and product development. Our ability to hire and retain these workers and their ability to remain and work in the United States are impacted by laws and regulations, as well as by procedures and enforcement practices of various government agencies and global events that may interfere with our ability to hire or retain workers who require visas or entry permits.”

Annual report 2026A · The company itself

“The federal banking agencies have issued joint guidance on incentive compensation designed to help ensure that a banking organization’s incentive compensation policies do not encourage imprudent risk taking and are consistent with the safety and soundness of the organization. In addition, the Dodd-Frank Act required those agencies, along with 34 the SEC, to adopt rules to require reporting of incentive compensation and to prohibit certain compensation arrangements.”

Annual report 2025A · The company itself

“In 2025, the Company assessed loans to certain not-for-profit borrowers, government contractors and other commercial borrowers that may be impacted by immigration policies and enforcement, changes to government funding and reductions in the federal workforce.”

Annual report 2025A · The company itself

“At the time of the Company’s analysis regarding the determination of the allowance for loan losses as of December 31, 2025 uncertainties existed about the impact of inflationary pressures and potential increases in unemployment on the discretionary income and purchasing power of consumers, which could impact their ability to service existing debt obligations; the volatile nature of global markets and international economic conditions that could impact the U.S. economy, including the effect of international trade policies on domestic businesses and consumers; uncertainty related to Federal Reserve positioning of monetary policy and the potential impacts on future economic growth; shifts in immigration policies and enforcement; changes to government funding and reductions in federal workforce; downward pressures on commercial real estate values and the impacts on the ability of commercial borrowers to refinance maturing debt obligations; and the extent to which borrowers may be negatively affected by general economic conditions.”

Annual report 2025A · The company itself

“-toimintaperiaatteitaan ja tasa-arvo- ja yhdenvertaisuussuunnitelmaansa Mandatum on huomioinut erityiset syrjinnän perusteet, kuten iän, alkuperän, kansalaisuuden, kielen, uskonnon, vakaumuksen, mielipiteen, poliittisen toiminnan, ay-toiminnan, perhesuhteiden, terveydentilan, vammaisuuden, seksuaalisen suuntautumisen tai muun henkilöön liittyvän syyn. Suunnitelman tarkoituksena on järjestelmällisesti ja lain edellyttämällä tavalla edistää tasa-arvon toteutumista yhtiössä sekä luoda työolot, joissa työntekijöiden asiantuntemus ja kokemukset otetaan tasapuolisesti huomioon.”

Annual report 2025A · The company itself

“Mandatum on sitoutunut harjoittamaan liiketoimintaansa kansainvälisesti tunnustettuja ihmisoikeuksia kunnioittaen. Yhtiö noudattaa toimintaansa soveltuvaa ihmisoikeus- ja työlainsäädäntöä.”

Annual report 2025A · The company itself

“Our activities are subject to extensive regulation under the laws of the U.S. and its various states, the United Kingdom, the European Union and its member states, Australia and the other jurisdictions in which we operate.”

Annual report 2025A · The company itself

“In addition, regulation or legislation impacting the workforce may lead to increased uncertainty and competition for talent.”

Annual report 2025A · The company itself

“Demand for many of Mercer's benefits services is affected by government regulation and tax laws, rulings, policies and interpretations, which drive our clients' needs for benefits-related services. Significant changes in government regulations affecting the value, use or delivery of benefits and human resources programs, including changes in regulations relating to health and welfare plans, defined contribution plans or defined benefit plans, may adversely affect the demand for or profitability of Mercer's services.”

Annual report 2025A · The company itself

“Further, changes in and enforcement of immigration and work permit laws and visa regulations have made it difficult for employees to work in, or transfer among, jurisdictions where we operate, potentially impairing our ability to attract and retain talent.”

Annual report 2025A · The company itself

“Food products are extensively regulated in most of the countries in which we sell our products. We are subject to numerous laws and regulations relating to the growing, sourcing, manufacturing, storage, labeling, marketing, advertising and distribution of food products, as well as laws and regulations relating to financial reporting requirements, the environment, consumer protection, product design, competition, anti-corruption, privacy, machine learning and artificial intelligence, relations with distributors and retailers, foreign supplier verification, customs and trade laws, including the import and export of products and product ingredients, employment, and health and safety.”

Annual report 2025A · The company itself

“We and our franchisees also continue to be impacted by increasingly complex U.S. and international laws and regulations affecting our respective workforces. These laws and regulations are increasingly focused on, and in certain cases impose requirements with respect to, employment matters such as wages and hours, healthcare, immigration, retirement and other employee benefits and workplace practices.”

Annual report 2025A · The company itself

“McDonald’s franchised restaurants are owned and operated under one of the following structures - conventional franchise, developmental license or affiliate. The optimal ownership structure for an individual restaurant, trading area or market (country) is based on a variety of factors, including the availability of individuals with entrepreneurial experience and financial resources, as well as the local legal and regulatory environment in critical areas such as property ownership and franchising.”

Annual report 2025A · The company itself

“We had collective bargaining agreements with unions covering approximately 37,000 of our U.S. employees as of December 31, 2025. Collective bargaining agreements covering small groups of Las Vegas property and corporate employees are scheduled to expire the first half of 2026, and collective bargaining agreements in regional operations covering approximately 3,000 employees are also scheduled to expire in 2026.”

Annual report 2025A · The company itself

“Our future operating results could suffer if a significant contractor were to experience production difficulties, insufficient capacity, decreased manufacturing, reduced availability of labor, assembly and test yields, or increased costs due to disruptions such as political upheaval, transit disruptions, infrastructure disruption or pandemics.”

Annual report 2026A · The company itself

“Restraints on the flow of technical and professional talent, including those derived from changes to U.S. immigration policies or laws, may inhibit our ability to adequately staff our research and development efforts.”

Annual report 2026A · The company itself

“Allmän regelefterlevnadsrisk inklusive att bedriva verksamhet i en listad miljö, GDPR (i EU och motsvarande regler i Kina), MAR, cybersäkerhet, konkurrenslagstiftning, hållbarhetslagstiftning, överträdelser av uppförandekoder, nya kinesiska bestämmelser (utan anståndsperioder), import/exportbestämmelser, sanktionsregler, regler gällande farliga kemikalier mm.”

Annual report 2024A · The company itself

“This includes our management of employees represented by labor unions or workers’ councils, who represent approximately 56% of our 79,000 employees outside the United States 22 Table of Contents and approximately 22% of our 12,000 U.S. employees. Strikes, work stoppages or other forms of labor unrest by our employees or those of our suppliers, distributors or other business partners, or situations like the renegotiation of collective bargaining agreements, have in the past and may in the future cause disruptions to our supply chain, manufacturing or distribution processes.”

Annual report 2025A · The company itself

“We pay Canadian resource taxes consisting of the Potash Production Tax and resource surcharge. The Potash Production Tax is a Saskatchewan provincial tax on potash production and consists of a base payment and a profits tax.”

Annual report 2025A · The company itself

“Mosaic leases approximately 291,500 acres of mineral rights from the government of Saskatchewan, and approximately 99,300 acres of freehold mineral rights in the Kronau/Regina area, which have not been developed. We pay Canadian resource taxes consisting of the Potash Production Tax and resource surcharge.”

Annual report 2025A · The company itself

“Branchen er i hastig udvikling og påvirkes i høj grad af politisk regulering, som er med til at ændre markedsvilkårene. Derfor bliver intern og ekstern vidensdeling på tværs af fag, funktioner og projekter afgørende for at omsætte nye krav til muligheder og konkrete løsninger.”

Annual report 2025A · The company itself

“Governance søjlen fokuserer på, at koncernens samarbejde med underentreprenører og leverandører styrkes for at fremme ansvarlige arbejdsforhold og menneskerettigheder i værdikæden. Dette understøttes af øget monitorering, kontrolbesøg og skærpede krav i kontrakter.”

Annual report 2025A · The company itself

“Given the variability of laws and regulations across countries, Multiconsult does not set detailed rules or procedures for all topics. Instead, each subsidiary is expected to comply with international and domestic legislation as well as Multiconsult policies and directives.”

Annual report 2024A · The company itself

“Multiconsult has made commitment to respecting internationally recognised human rights throughout own operations and in the supply chain.”

Annual report 2024A · The company itself

“Europa är inte bara vår största marknad försäljningsmässigt, utan också en central plattform för innovation och utveckling, tack vare de stränga regleringar i regionen som ställer höga krav på utsläppskontroll och arbetsmiljö.”

Annual report 2024A · The company itself

“Vi arbetar också för att alla våra produktionsenheter ska vara certifierade enligt ISO 9001 och ISO 14001, för att säkerställa en tredjepartsgranskad kvalitetsoch miljöledning i hela verksamheten.”

Annual report 2024A · The company itself

“Australien påverkades positivt av ny lagstiftning inom hälsa och säkerhet.”

Annual report 2024A · The company itself

“Recently enacted Australian housing reform legislation may impact listing volumes and the Company’s digital real estate services business in Australia.”

Annual report 2026A · The company itself

“Complying with these laws and regulations is costly and resource-intensive and, from time to time, requires the Company to change its business practices or limit or restrict aspects of its business in a manner adverse to its operations, including by restricting the collection, use and/or disclosure of information for targeted advertising, use in certain products and services or for pricing and other purposes.”

Annual report 2026A · The company itself

“De omfattar alla medarbetare globalt. Vid introduktionen får alla nya medarbetare utbildning i vår uppförandekod med tillhörande policyer. Vi ska behandla varandra med respekt och ledare ska föregå med gott exempel när det gäller att leva upp till kraven på uppriktighet och rak kommunikation.”

Annual report 2024A · The company itself

“Våra bolag har samma regler och värderingar gällande löner. Varjeenskiltlandslagargällandelönerföljs.Virespekterargivetvis gällandeminimilöner.”

Annual report 2024A · The company itself

“Politisk instabilitet, pandemier eller arbetskonflik ter kan orsaka produktionsstopp som i sin tur leder till kompensationskrav.”

Annual report 2024A · The company itself

“The policy requires manufacturing suppliers to sign adherence to the RBA Code of Conduct, with an obligation to cascade these requirements to their next tier of suppliers.”

Annual report 2024A · The company itself

“en ny ungebekendtgørelse, som åbner for andre beskæftigelser end omdeling for de yngste på jobmarkedet”

Annual report 2025A · The company itself

“FK Distribution forventer, at den stabiliserede markedsudvikling i 2025 fortsætter i 2026. følgende antagelser: • Et forventet fald i volumen fra tilbudsaviser i niveauet 5% og et forventet faldlokale ugeaviser i niveauet 15%. • Faldet i volumen ventes opvejet af prisstigninger i årsaftaler om omdeling af tryksager og lokale ugeaviser, som er på niveau med 2025. • Vækst i selekteret post • Stabile produktions- og kapacitetsomkostninger som følge af kontinuerlig driftsoptimering De væsentligste risici vurderes at være konsolidering af regionale og lokale mediehuse/titler, udfordringer med fastholdelse og tiltrækning af omdelere, politisk regulering af fritidsarbejde for unge samt ændringer i konkurrenceforhold.”

Annual report 2025A · The company itself

“Our ability to attract and retain key executives and other employees may be hindered as a result of existing and potential regulations applicable to incentive compensation and other aspects of our compensation programs. These laws and regulations may not apply in the same manner to all financial institutions and other companies, which therefore may subject us to more restrictions than other institutions and companies with which we compete for talent and may also hinder our ability to compete for talent with other industries.”

Annual report 2025A · The company itself

“New laws or other requirements, or changes to existing ones (including, for example, related to cybersecurity, information and data protection, cost accounting, environment, sustainability, securities, competition, compensation costs, employment, taxes, counterfeit parts, pensions, use of certain non-US equipment or acquisitions more broadly), can significantly increase our costs (including compliance costs) and risks, create operational challenges, potentially limit our ability to return cash to shareholders, reduce our profitability and/or adversely affect our competitiveness.”

Annual report 2025A · The company itself

“Any future amendments to such collective bargaining agreements or inability to satisfactorily renegotiate such agreements may increase our labor costs and have a negative impact on our financial condition.”

Annual report 2025A · The company itself

“The Company’s retail and smart home services focus on transactions with residential customers, subjecting them to a variety of laws, regulations and licensing requirements governing interactions with residential consumers, including those pertaining to privacy and data security, telemarketing, in-person solicitations, online marketing, consumer financial and credit transactions, home improvements, warranties and door-to-door solicitation. In certain jurisdictions, the Company is required to obtain licenses or permits to comply with standards governing marketing and sales efforts, installation of equipment or servicing of customers and monitoring station employee selection and training. Increased regulation of matters relating to interactions with residential consumers could require modification to the Company’s retail and smart home services operations and the incurrence of additional expenses.”

Annual report 2025A · The company itself

“Changes in immigration and work permit regulations, or in their administration or interpretation, could impair our ability to attract, employ and retain qualified employees.”

Annual report 2026A · The company itself

“If we fail to extend or renegotiate our collective bargaining agreements and social plans with our labor unions as they expire from time to time, if regular or statutory consultation processes with employee representatives such as works councils fail or are delayed, or if our unionized employees were to engage in a strike or other work stoppage, our business and operating results could be materially harmed.”

Annual report 2025A · The company itself

“Risks Related to Legal and Regulatory Matters The FMCSA’s Compliance, Safety, Accountability initiative (“CSA”) could adversely impact our ability to hire qualified drivers, meet our growth projections and maintain our customer relationships, each of which could adversely impact our results of operations. The FMCSA’s CSA is an enforcement and compliance program designed to monitor and improve commercial motor vehicle safety by measuring the safety record of both the motor carrier and the driver.”

Annual report 2025A · The company itself

“We operate in a highly regulated industry, and increased costs of compliance with, or liability for violation of, existing or future regulations could have a material adverse effect on our business. We are regulated by the DOT and by various state and federal agencies.”

Annual report 2025A · The company itself

“PROTECTION OF HUMAN AND LABOR RIGHTS We are committed to the protection of human and labor rights in all our operational endeavors. We recognize the universal and fundamental nature of human rights and align all our operations with the Universal convention on Human Rights and conventions of the International Labor Organization (ILO).”

Annual report 2024A · The company itself

“We have implemented actions related to the 2022 Norwegian Transparency Act, which includes requirements related to performing due diligence, and working on fundamental human rights and decent working conditions. This is in line with our efforts to be a responsible actor, focusing on a responsible supply chain.”

Annual report 2024A · The company itself

“In this framework, in 2025 Orion renewed its risk based approach in procurement to align with the UNGPs.”

Annual report 2025A · The company itself

“New policies adopted in 2025 include the global Orion Compensation Principles, the Job Title Guideline, an Orion Short-Term Incentive Policy, a Global Travel Guideline and the Orion Global Mobility Guidelines. These new policies introduce new processes and guidelines that support the company in ensuring equal working conditions. The primary goal of these policies is to enhance transparency, consistency, and equal treatment of all Orion employees.”

Annual report 2025A · The company itself

“Approximately 64% of our U.S. workforce is covered by a collective bargaining agreement.”

Annual report 2025A · The company itself

“Personnel negotiations in Finland, Sweden, and Germany were completed in the fourth quarter of 2025, processes in other countries continue. In total, the restructuring is expected to impact approximately 650 full‑time positions by the end of 2027.”

Annual report 2025A · The company itself

“Further, if we are not able to recruit, hire, or retain the talent we need because of increased regulation of immigration or work visas, including limitations placed on the number of visas granted, changes to application processes or fees, limitations on the type of work performed or location in which the work can be performed, and new or higher minimum salary requirements, it could be more difficult to staff our personnel on customer engagements and could increase our costs.”

Annual report 2025A · The company itself

“Our business could be adversely affected if our employees cannot obtain and maintain required personnel security clearances or we cannot establish and maintain a required facility security clearance. Certain government contracts may require our employees to maintain various levels of security clearances and may require us to maintain a facility security clearance to comply with U.S. and international government agency requirements.”

Annual report 2025A · The company itself

“We are advancing towards our goal of achieving full gender parity in the Senior Leadership Team no later than 2030. Women in senior leadership roles increased from 35% in 2024 to 44% in 2025 – exceeding our short-term target of 33% by 2025.”

Annual report 2025A · The company itself

“Udlejningsmarkedet er omfattet af en række lovgivningsmæssige krav. Ændringer i den nugældende lovgivning kan således påvirke koncernens ejendomsaktiviteter og koncernen i negativ retning.”

Annual report 2025A · The company itself

“Our non-U.S. operations are subject to risks in addition to those facing our domestic operations, including: •fluctuations in currency exchange rates and/or changes in monetary policy; •limitations on ownership and on repatriation of earnings; •transportation delays and other supply chain disruptions; •political, social and economic instability and disruptions, including armed conflicts; •the imposition of duties and tariffs and other trade barriers; •government import and export controls, embargoes, sanctions or trade restrictions, including possible restrictions on trade and/or obstacles to conducting business in China; •labor unrest and current and changing regulatory environments; •difficulties in implementing restructuring actions on a timely basis; •difficulties in staffing and managing multi-national operations; •limitations on our ability to enforce legal rights and remedies; •public health crises, including pandemics; •the potential for nationalization of enterprises; and •potentially adverse tax consequences.”

Annual report 2026A · The company itself

“Frågan om jämställdhet inom bygg och anläggning är en branschrelaterad utmaning. Även inom Peab är andelen kvinnor liten, inte minst bland våra yrkesarbetare. Därför arbetar vi aktivt med frågan, bland annat genom samarbete med utbildningsväsendet.”

Annual report 2024A · The company itself

“Fokus på jämställdhet Peab arbetar aktivt för att bidra till en mer jämställd bygg- och anläggningsbransch. Ett led i det arbetet är lärlingsprogrammet Byggåret. Det är ett utbildningsprogram för kvinnor som den första gruppen avslutade i september 2024.”

Annual report 2024A · The company itself

“Selvom ulykkesfrekvensen på 14,6 fortsat er alt for høj, er det værd at bemærke et pænt fald over de sidste to år, hvilket afspejler, at de iværksatte tiltag har en effekt.”

Annual report 2025A · The company itself

“Koncernens menneskerettighedspolitik er opdateret med input fra Institut for Menneskerettigheder og en ny risikoanalyse. Fortsat udvikling af risikoanalyser, udarbejdelse af guidelines og revision af relevante politikker med fokus på menneskerettigheder og due diligence.”

Annual report 2025A · The company itself

“2025/26 udarbejder en tværgående arbejdsgruppe handlingsplaner og herefter udarbejdes mål baseret på risikoanalyser.”

Annual report 2025A · The company itself

“42 % af funktionærerne i koncernens selskaber har gennemført koncernens e-læringskursus om antikorruption. E-læringskursus om antikorruption udbredes til koncernens udenlandske selskaber, og politik samt proces opdateres.”

Annual report 2025A · The company itself

“Regulatory agencies periodically inspect our manufacturing facilities, as well as third-party facilities that we rely on, to evaluate compliance with cGMP or other applicable requirements. Failure to comply with these requirements may subject us to possible legal or regulatory actions, such as warning letters, suspension of manufacturing, seizure of product, injunctions, debarment, product recalls, delays or denials of product approvals, import bans or denials of import certifications.”

Annual report 2025A · The company itself

“The Utility is subject to extensive regulations and enforcement proceedings in connection with compliance with regulations, which could result in penalties. The Utility is subject to extensive federal, state, and local laws, regulations, and orders, including those regarding customer billing; customer service; affiliate transactions; wildfire mitigation initiatives and WMP targets (including EPSS, PSPS, vegetation management, asset inspections, and system hardening); design, construction, operating and maintenance practices; safety and inspection practices; federal electric reliability standards; environmental compliance; resource adequacy; GHG emissions; renewable energy; privacy, including laws like the California Consumer Privacy Act, as amended (“CCPA”), which permits consumers to exercise certain rights with respect to their personal information, including opting out of receiving certain communications and data sharing with third parties; and compliance with CPUC general orders (“GOs”) or other applicable CPUC decisions or regulations.”

Annual report 2025A · The company itself

“Tobacco production in certain countries is subject to a variety of controls, including government mandated prices and production control programs. Changes in the patterns of demand for agricultural products could cause farmers to produce less tobacco or cloves.”

Annual report 2025A · The company itself

“Limitations on the way regulated financial institutions can compensate their officers and employees may make it more difficult for regulated financial institutions, including PNC, to compete with other companies for talent.”

Annual report 2025A · The company itself

“Efterfrågan gynnas fortsatt av flera externa faktorer så som det osäkra omvärldsläget, nya myndighetskrav och genom att moderna bolag vill vara mer kundcentrerade.”

Annual report 2024A · The company itself

“Försäljningen av YOUNiQ Access i Sverige möter visst motstånd på grund av tolkningar av GDPR, men diskussioner på myndighetsnivå pågår för att lätta upp området inom biometri.”

Annual report 2024A · The company itself

“Samtidigt som nya regelverk gör det enklare att sälja cloud-baserade lösningar till offentlig sektor ser vi en växande efterfrågan på våra produkter inom högsäkerhetsmiljöer där molnlösningar inte är tillåtna.”

Annual report 2024A · The company itself

“In addition, we rely on local staff, including local sales forces, in those locations where there is a risk and we may encounter labor problems with local staff, especially in locations where workers’ associations and trade unions are strong.”

Annual report 2025A · The company itself

“Benefits and Protection Segment Benefits and Protection Segment Summary Financial Data Premium and fees are a key metric for growth in the Benefits and Protection segment. We receive premiums on our specialty benefits insurance products as well as our traditional life insurance products.”

Annual report 2025A · The company itself

“Similarly, in response to the COVID-19 pandemic, certain localities adopted restrictions on the use of certain of our facilities, limited our ability to increase rents, limited our ability to collect rent or evict delinquent tenants, and limited our ability to complete development and redevelopment projects. California and other jurisdictions have also adopted regulations restricting our operations relating to pricing methodologies, restrictions on fees, procedures for selling stored property of delinquent tenants, marketing restrictions related to price changes and promotional rates, zoning restrictions and other matters.”

Annual report 2025A · The company itself

“We are subject to extensive laws and regulations, and to frequent changes in such laws and regulations, at the city, county, state, and federal level. These laws and regulations include (i) laws and regulations related to access to our self-storage facilities, including the Americans with Disabilities Act of 1990, (ii) laws and regulations related to taxes, including property taxes, income taxes, and REIT status compliance, (iii) labor and employment laws and regulations, (iv) consumer protection laws and regulations, including those related to lien sales, (v) state and local business licensing laws and regulations, (vi) zoning laws and regulations, (vii) privacy laws and regulations, including the California Privacy Rights Act and the California Consumer Privacy Act, and (viii) securities laws.”

Annual report 2025A · The company itself

“However, various governmental agencies have attempted to hold contract parties like us responsible for violations of wage and hour laws and other work-related laws by firms whose employees are performing contracted services. Governmental rulings or changes in state or local laws that make us responsible for labor practices by our subcontractors could create substantial exposures for us in situations that are not within our control.”

Annual report 2025A · The company itself

“Changes in immigration or work authorization laws may increase our obligations for compliance and oversight, which could subject us to additional costs and potential liability and make our hiring and employee transfer processes more cumbersome, or reduce the availability of potential employees.”

Annual report 2025A · The company itself

“Att öka andelen kvinnor på ledande positioner är en prioritering, och ett de två hållbarhetsmål som Ratos styrelse antog 2024 syftar till att uppnå fördelningen 40/60 mellan kvinnor och män på ledande positioner i Ratoskoncernen senast år 2030.”

Annual report 2024A · The company itself

“Federal and state laws or regulations governing, among other things, the wages we pay our employees, the terms of our employment contracts (e.g., post-employment non-competition agreements), or the criteria for determining whether a person is an employee or independent contractor could materially impact our relationships with our advisors and our business, result in higher compensation costs, or otherwise adversely affect our results of operations.”

Annual report 2025A · The company itself

“Changes to U.S. immigration policies that restrain the flow of technical and professional talent may inhibit our ability to adequately staff our research and development efforts.”

Annual report 2025A · The company itself

“En snabbrörlighet bland medarbetare inom branschen och striktare lagar kring anställning kan utgöra en risk när det gäller att hitta kompetens och rekrytera kvalificerade medarbetare, vilket riskerar att leda till ökade kostnader för rekrytering och ge lägre effektivitet i verksamheten.”

Annual report 2024A · The company itself

“Alla leverantörer måste underteckna koden innan de ingår avtal med Rejlers, och leverantörer utvärderas baserat på deras efterlevnad av policyn, inklusive revisioner på plats när det är relevant. Ytterligare information om interna policyprocesser finns i GOV-1/2.”

Annual report 2024A · The company itself

“Vi inser också vikten av att proaktivt hantera inköp av material, särskilt mineraler, eftersom detta ofta väcker frågor om mänskliga rättigheter i form av barnarbete, hälsa och säkerhet, arbetstider och konflikter. Genom att ta itu med dessa problem kan vi bidra till mer hållbara arbetssätt i hela vår värdekedja.”

Annual report 2024A · The company itself

“Vi gör detta genom att ha ett starkt fokus på affärsetik i hela företaget samt genom att arbeta nära våra leverantörer i syfte att säkerställa efterlevnad i vår leveranskedja.”

Annual report 2024A · The company itself

“INVERKNINGAR, RISKER OCH MÖJLIGHETER Väsentliga inverkningar, risker och möjligheter och deras förhållande till strategi och affärsmodell S2 SBM-3 Att ta ansvar för hela värdekedjan, inklusive människorna i den, har hög prioritet för oss. Frågor som rör arbetsvillkor, mänskliga rättigheter och rätten till likabehandling och möjligheter är centrala för vår strategi. Vår dubbla väsentlighetsbedömning identifierar dessa som väsentliga ämnen, både ur inverkansperspektiv och ekonomiskt perspektiv.”

Annual report 2024A · The company itself

“Several of our subsidiaries outside the United States have employment contracts with our employees where the terms and conditions are influenced by labor unions and workers’ councils’ agreements that involve approximately 4,000 of our employees.”

Annual report 2025A · The company itself

“In addition, decisions and rules by the National Labor Relations Board, including “expedited elections” and restrictions on appeals, has and could continue to lead to increased organizing activities at our brands. If these labor organizing activities are successful, it could further increase labor costs, decrease operating efficiency and productivity in the future, or otherwise disrupt or negatively impact our operations which could have a material adverse effect on our reputation and business.”

Annual report 2025A · The company itself

“We are subject to regulation in the countries in which we operate related to employment laws, and noncompliance could lead to fines or legal proceedings. We are subject to a myriad of complex laws and regulations in the various federal, state, provincial, regional, and local governments in the countries in which we operate related to employees, including, but not limited to wage and hour laws, anti-discrimination laws, immigration, pension benefit plans, ERISA laws, OSHA regulations, and retirement benefits. Any failure to comply with such applicable laws or regulations could result in fines, enforcement actions, class actions or legal proceedings.”

Annual report 2025A · The company itself

“Our ability to control labor costs is subject to numerous external factors, including prevailing wage rates and health and other insurance costs, potential labor organizing activities, as well as the impact of legislation or regulations governing minimum wage or healthcare benefits.”

Annual report 2026A · The company itself

“Our shipboard workforce consisted of approximately, 96,500 employees, and as of December 31, 2025, approximately 87% were covered by collective bargaining agreements.”

Annual report 2025A · The company itself

“As a global operator, our business also may be impacted by changes in U.S. policy or priorities in areas such as trade, immigration and/or environmental or labor regulations, among others. Depending on the nature and scope of any such changes, they could impact our domestic and international business operations.”

Annual report 2025A · The company itself

“Due diligence och bra förutsättningar i vår leverantörskedja Det är i vår leverantörskedja som majoriteten av vår sociala och miljömässiga påverkan sker. Tillsammans med och i samarbete med våra partners arbetar vi för mänskliga rättigheter, goda arbetsvillkor och skydd av vår planet.”

Annual report 2022A · The company itself

“Constraints on global talent mobility and hiring, including changes in immigration laws and policies, travel restrictions, work permits regulation and administration, government restrictions to contain the spread of infectious disease, and limitations on the ability of employees to enter, leave, or return to jurisdictions in which we operate, may also affect our ability to attract and retain the specialized skills needed to support our business and may disrupt our operations.”

Annual report 2026A · The company itself

“We are subject to, and may become subject to additional, U.S. state and federal, and international laws and regulations governing our environmental, labor, trade, financial transactions, health and safety practices and public-company reporting and disclosures requirements. These laws and regulations, particularly those applicable to our international operations, are or may be complex, extensive and subject to change. Implementing compliance with such laws and regulations may result in an increase in our operating costs, and failure to comply with such laws and regulations could also lead to significant liabilities.”

Annual report 2026A · The company itself

“We still see that the average salary for men is marginally higher than the average salary for women. This pay gap is a result of a higher share of men in leadership roles at the largest clubs and with longer seniority.”

Annual report 2024A · The company itself

“SATS opposes all forms of human trafficking, forced labor, and illicit forms of child labor in its operations and value chain. We recognize our responsibility to identify, prevent, mitigate and remedy potential and actual negative impacts on human rights throughout our supply chain.”

Annual report 2024A · The company itself

“The aspects regulated by law in operating countries are followed and monitored well by the Factory Management and external audits.”

Annual report 2025A · The company itself

“This policy emphasizes Scanfil’s commitment to support and respect the United Nations Global Compact principles as well as the International Labour Organization (ILO) core standards: Freedom of association and the right to collective bargaining, the elimination of forced labor, the effective abolition of child labor and the elimination of discrimination in respect of employment and occupation.”

Annual report 2025A · The company itself

“Jämställdhet De flesta av våra dotterbolag verkar inom mansdominerade branscher där Seafire kan göra skillnad inom mångfald och jämställdhet. Vi är övertygade om att diversifierade team är en viktig del i att skapa bättre arbetsmiljö och bidra till framgång, varför vi ser medarbetare med olika bakgrund som en viktig del för att uppnå hållbara organisationer.”

Annual report 2024A · The company itself

“Kvinnligt ledarskap, inom både styrelse och ledning, är något vi arbetar extra för.”

Annual report 2024A · The company itself

“Mänskliga rättigheter är en kärnfråga för våra ägare och kunder och är något vi ser viktigt på i och med att vi arbetar med leverantörer globalt. Mänskliga rättigheter behandlas i vår uppförandekod för leverantörer som vi försöker nå ut till fler och fler av våra leverantörer.”

Annual report 2024A · The company itself

“Our business is subject to state, federal, and international laws and regulations relating to data privacy, data protection and data security, including security breach notification, data retention, transfer and localization. Laws and regulations relating to these matters evolve frequently and their scope may change through new legislation, amendments to existing legislation and changes in interpretation or enforcement and may impose conflicting and inconsistent obligations.”

Annual report 2026A · The company itself

“I kontrakter inngått stilles det tydelige krav til at entreprenører skal operere i tråd med gjeldende lover og forskrifter, inkludert lønns- og arbeidsvilkår. Alt arbeid som utføres i Norge følger norsk tariff og norske lover, og entreprenørene skal til enhver tid kunne dokumentere at arbeidskraften som benyttes på byggeplassene er lovlig. I tråd med byggherreforskriften og påseplikten gjennomfører Selvaag Bolig jevnlige kontroller for å sikre at kontraktsvilkårene blir overholdt.”

Annual report 2024A · The company itself

“Further, existing immigration laws, as well as difficulties and increased costs in obtaining visas, together with any changes to immigration policies or regulations in the United States, such as the increased cost for H-1B worker visas announced in September 2025, make it more difficult for us to recruit and retain highly skilled foreign nationals (in the United States or abroad), limiting the pool of available talent.”

Annual report 2025A · The company itself

“We are subject to a wide variety of regional, national, state, provincial, and local laws, regulations and other requirements, including those relating to the environment, product safety, competition, corruption, sanctions, occupational health and safety, labor and employment, data privacy, artificial intelligence, tax and health care.”

Annual report 2025A · The company itself

“Anti-hvitvask og anti-korrupsjonsarbeid i bedriftsmarkedet er et viktig og prioritert område, hvor vi som bank har et viktig samfunnsoppdrag. Vi jobber aktivt for å avdekke og forhindre økonomisk kriminalitet og gjennom det bidra til at virksomheter bidrar til bærekraftsmål 8: bærekraftig økonomisk vekst, full og produktiv sysselsetting og anstendig arbeid for alle.”

Annual report 2024A · The company itself

“Våre kunder skal operere innenfor norske lover, og i bærekraftperspektivet vektlegges særskilt lover knyttet til beskatning, ar beidsmiljø, diskriminering og forurensning.”

Annual report 2024A · The company itself

“Morbanken har inngått tariffavtaler med begge de store fagforeningene som organiserer flertallet av de ansatte i bransjen, Finansforbundet og LO Finans Østlandet. Alle ansatte dekkes av kollektive tariffavtaler.”

Annual report 2024A · The company itself

“LIK LØNN FOR LIKT ARBEID I KONSERNET I konsernet er kvinners lønn i snitt 88 prosent av menns lønn. Vi har kommet fram til dette tallet ved å se på kvinners lønn i gjennomsnitt delt på menns lønn i gjennomsnitt for hele konsernet.”

Annual report 2024A · The company itself

“I 2023 forpliktet vi oss til å følge Finans Norges bransjenorm for finansiell inkludering. I tråd med denne normen skal vi gi et godt tjenestetilbud også til kunder som av ulike årsaker har problemer med å ta i bruk digitale løsninger.”

Annual report 2024A · The company itself

“Gjennom en tidligere risikobasert kartlegging av 249 eksisterende leverandører prioriterte SpareBank 1 Utvikling 12 leverandører som ble nærmere fulgt opp mot etterlevelse av åpenhetsloven.”

Annual report 2024A · The company itself

“Den enkelte medarbeiders muligheter for faglig og personlig utvikling skal være uavhengig av kjønn, alder, utdanning, bakgrunn og opprinnelse.”

Annual report 2024A · The company itself

“Det tilstrebes kjønnsmessig balanse på alle nivåer i organisasjonen. Vi har satt et mål om å øke andelen kvinnelige ledere til 45 prosent.”

Annual report 2024A · The company itself

“Styrdokumentet adresserar nio diskrimineringsgrunder (kön, könsöverskridande identitet, etnisk eller nationell tillhörighet, religion, funktionsnedsättning, ålder, sexuell läggning, civilstånd eller föräldrastatus, politisk åskådning eller medlemskap i fackförening). Koncerndirektivet omfattar SSABs verksamhet, beslutas av koncernledningen och ses över minst årligen.”

Annual report 2024A · The company itself

“For example, at the federal level, effective July 1, 2024, the United States Department of Labor increased the minimum salary threshold requirements for employees who are exempt from the Fair Labor Standards Act overtime requirements, and at the state level, Assembly Bill 1228 increased minimum wage and established working hour and working condition standards for certain partners in California.”

Annual report 2025A · The company itself

“In addition, several jurisdictions have enacted or proposed localization requirements and restrictions on cross-border transfers of personal information that may restrict our ability to conduct business in those jurisdictions or create additional financial, legal and regulatory burdens to do so.”

Annual report 2025A · The company itself

“Anti-Money Laundering and Financial Transparency Certain of our subsidiaries are subject to the Bank Secrecy Act of 1970, as amended by the USA PATRIOT Act of 2001, and related regulations, which contain AML and financial transparency provisions and which require implementation of an AML compliance program, including processes for verifying client identification and monitoring client transactions and detecting and reporting suspicious activities.”

Annual report 2025A · The company itself

“12 | Stockwik Årsredovisning 2024 ÖVERTRÄDELSE AV LAGAR, REGLER OCH NORMER Stockwiks verksamhet regleras av allt strängare lagar och regler avseende t.ex. hälsa, säkerhet, miljö och liknande. Stockwiks verksamhet omfattas också av branschstandarder och andra åtaganden. Kostnaderna för att följa dessa lagar och förordningar kan vara betydande, och bristande efterlevnad kan leda till böter eller sanktioner, få civila och straffrättsliga konsekvenser, leda till rättegång från tredje part och förhindra eller begränsa Stockwiks verksamhet.”

Annual report 2024A · The company itself

“Kestävyyskysymysten kannalta suurin haaste on kehittyvä sääntely-ympäristö ja metsävaroja koskevat poliittiset päätökset, jotka voivat rajoittaa puun saatavuutta, lisätä kustannuksia ja vähentää investointimahdollisuuksia.”

Annual report 2025A · The company itself

“Työturvallisuuden keskeisen merkityksen vuoksi yhteiset toiminnot on konsolidoitu 100- prosenttisesti.”

Annual report 2025A · The company itself

“Då koncernen verkar i länder med strikta regler kring arbetsvillkor är den negativa påverkan begränsad.”

Annual report 2024A · The company itself

“Risker Riskhantering Regelefterlevnad Risk för att Storskogen eller affärsenheterna brister i efterlevnad av regelverk såsom Marknadsmissbruksförordningen, Dataskyddsförordningen (GDPR), sanktionsbestämmelser eller arbetsmiljökrav, vilket kan leda till kostnader och skadat renommé.”

Annual report 2024A · The company itself

“Storskogen har implementerat flertalet policydokument och interna processer i syfte att uppfylla de krav som ställs på koncernen, och genomför regelbundna utbildningar för affärsenheterna avseende bland annat handelssanktioner, embargon, exportkontroll och GDPR. Affärsetik och hållbarhetsstyrning Risk för att anställda inte följer lagar, regelverk eller Storskogens Uppförandekod vilket kan omfatta korruption, bedrägerier och mutor.”

Annual report 2024A · The company itself

“Inflationary pressures, labor demand and shortages and other macroeconomic factors have increased and could further increase the cost of labor and could harm our ability to recruit, hire and retain talented employees.”

Annual report 2025A · The company itself

“Vid brott mot regelefterlevnaden till följd av ökad reglering (ramverk/lagstiftning osv) finns risk för påföljder/förlorade marknadsandelar. Vidare kan en ökad komplexitet på den reglerade marknaden leda till ineffektivitet eller felaktiga prioriteringar för affärsverksamheten.”

Annual report 2024A · The company itself

“För att säkra ansvarstagandet genom leverantörskedjan är Synsam medlem i samarbetsinitiativet ”Business Social Compliance Initiative”(BSCI). Synsam använder Amfori BSCI:s uppförandekod.”

Annual report 2024A · The company itself

“Notwithstanding this federal preemption, several states are considering or have passed laws or regulations that could potentially set prices, minimum performance standards and/or restrictions on service discontinuation that could impact our business in those states. For example, California has passed separate privacy and net neutrality legislation, while many others have passed privacy laws, and New York has passed a broadband rate-setting law.”

Annual report 2025A · The company itself

“Our global workforce is primarily non-unionized, but we are aware of an increase in the industry of workers exercising their right to form or join a union. If significant employee populations were to unionize, we could experience operational changes that may materially impact our business.”

Annual report 2026A · The company itself

“As a global company, we are subject to a variety of regulations and laws in the U.S. and abroad, including regarding consumer protection (including the use of prepaid cards, online safety, and the protection of minors), subscriptions, advertising, electronic marketing, privacy (including verified parental consent and age assurance), biometrics, cybersecurity, data protection and data localization or data transfer requirements, AI, online services, online gaming or gambling, anti-competition, freedom of speech, labor, real estate, taxation, social media and content moderation, escheatment, intellectual property ownership and infringement, tax, export and national security, tariffs and other trade restrictions, anti-corruption and telecommunications, all of which are continuously evolving and developing.”

Annual report 2026A · The company itself

“For instance, the U.S. Children's Online Privacy Protection Act ("COPPA") regulates the collection, use, and disclosure of personal information from children under 13 years of age, and age-based privacy laws can apply to how we collect and use personal information or provide certain game features to players up to 18 years of age, including how or whether we are permitted to use their information for targeted advertising. The FTC's most recent amendments to the COPPA Rule became effective in April 2026. These amendments expand the definition of covered personal information and impose new data retention and information security obligations.”

Annual report 2026A · The company itself

“Our ability to meet our changing labor needs while controlling our costs is subject to external factors such as labor laws and regulations, labor availability, unemployment levels, prevailing wage rates, benefit costs, changing demographics, immigration laws and regulations, and our reputation within the labor market.”

Annual report 2026A · The company itself

“There have been, and may continue to be, changes in the legal or regulatory environment (including as a result of executive orders) affecting many areas related to our business, including merchandise costs and availability, customs and trade policy (including the impacts of our first sale declaration program), workforce availability, transport costs and capacity, information security, cybersecurity, and data privacy, supply chain requirements, product safety, product quality, payment methods, environmental, social, and governance matters (including sustainability, belonging, and diversity, equity, and inclusion), and climate and emissions disclosure.”

Annual report 2026A · The company itself

“Att leverera högkvalitativa produkter och tjänster är kärnan i Tele2s uppdrag, och rättvisa samt etiska affärsmetoder är en grundläggande del av bolagets dagliga verksamhet och värdegrund. För att upprätthålla förtroende bland intressenter och säkerställa efterlevnad av lokala lagar och regler följer Tele2 en Uppförandekod samt en särskild Uppförandekod för affärspartners, båda baserade på principerna i FN:s Global Compact. Dessa koder omfattar centrala områden såsom arbetsrätt, antikorruption, miljöskydd, föreningsfrihet och kollektiva förhandlingar, barnarbete, tvångsarbete och andra grundläggande mänskliga rättigheter.”

Annual report 2024A · The company itself

“We are subject to complex laws, rules and regulations on an international, national and local level that affect our domestic and international operations relating to, for example, the environment and climate change; safety; health; trade, including import and export; bribery and corruption; financial reporting; tax; data privacy and protection; labor and employment; competition; facilities and code compliance; market access; pandemics, epidemics or other public health crises; intellectual property ownership and infringement; and the movement of currency.”

Annual report 2025A · The company itself

“• Fortsatt kategorisering och riskanalyser efter verksamhetsland och produktkategorier. • Revisioner av riskleverantörer och krav på åtgärder i berörda fall. • Fokus 2024 att genomföra fler utbildningar internt för att öka riskmedvetenhet inom mänskliga rättigheter i hela vår värdekedja.”

Annual report 2023A · The company itself

“Mångfald, rättvisa och inkludering är en naturlig del av vår företagskultur.”

Annual report 2023A · The company itself

“Vi har också satsat på att flytta fram positionerna och öka kunnandet inom mänskliga rättigheter. Under 2024 kommer 80 procent av våra medarbetare att utbildas internt inom området.”

Annual report 2023A · The company itself

“Detta gäller både Thule Group och vår leverantörskedja, där vi arbetar med att säkerställa goda arbetsförhållanden samt motverka varje form av tvångs- eller barnarbete. Det gäller marknadsmässiga och avtalsenliga löner, en säker arbetsmiljö, arbetstider, rätt till förenings- och yttrandefrihet med mera.”

Annual report 2023A · The company itself

“The Code applies across all aspects of employment, as well as interactions with suppliers, customers, and partners. It applies to all employees, Board members, subcontractors, and representatives globally.”

Annual report 2025A · The company itself

“Tieto’s commitment to employee well-being is further reflected in its Health and Safety Policy, which promotes both physical and mental health by ensuring a safe and healthy work environment. The policy includes measures to identify and minimize workplace hazards, provide employees with the necessary training, and ensure emergency preparedness.”

Annual report 2025A · The company itself

“In 2025, Tieto strengthened its commitment to gender equality and workforce diversity through a series of targeted actions and strategic improvements. Building on the previous year's progress, the company expanded its initiatives to ensure more inclusive practices and measurable progress.”

Annual report 2025A · The company itself

“regulatoriske ændringer, overenskomster o.l.”

Annual report 2025A · The company itself

“Additionally, many Associates in our distribution network in the United States and Canada are members of unions, and other Associates are members of works councils in Europe. We are subject to the risk of labor actions or disruptions of various kinds, including work stoppages and decreased flexibility as a result of labor law limitations.”

Annual report 2026A · The company itself

“Complying with applicable laws, rules, regulations, standards, interpretations, orders and our own internal policies may require us to spend additional time and resources to develop and implement new policies, procedures and other controls, consolidate and report additional data, conduct audits, train Associates and third parties on our compliance methods, or take other actions, particularly as we continue to grow globally and enter new markets, countries, or product categories and affect our operations including where, what, and how we source and how we allocate what we buy, any of which could adversely impact our results.”

Annual report 2026A · The company itself

“Regulation and Legislation We are subject to federal, state and local laws, both domestically and internationally, and at the state level by athletic commissions, governing matters such as: • licensing laws for athletes; • operation of our venues; • licensing, permitting, and zoning; • health, safety, and sanitation requirements; • the service of food and alcoholic beverages; • working conditions, labor, minimum wage and hour, citizenship, immigration, visas, harassment and discrimination, and other labor and employment laws and regulations; • compliance with the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”); • the U.K.”

Annual report 2025A · The company itself

“Changes in applicable laws, regulations, executive orders or procedures could adversely affect our ability to hire or retain these key personnel or sponsor athletes and performers who are not United States citizens and could affect our costs of doing business.”

Annual report 2025A · The company itself

“3.1.7 Työhyvinvointi (S1-14) 100 % Tokmanni -konsernin työntekijöistä kuuluu lakisääteisten työterveys - ja työturvallisuuden hallintajärjestelmien piiriin.”

Annual report 2025A · The company itself

“Oma toiminta Yhdenvertaisuuden ja monimuotoisuuden edistäminen Yhdenvertaisuuden ylläpitäminen ja kehittäminen tasapuolisen rekrytoinnin ja työsuhteiden kautta, palkkatasa-arvon varmistaminen sekä koulutusmahdollisuuksien ja sisäisten urapolkujen edistäminen. Yhdenvertaisuuden edistäminen lisää psykologista turvallisuutta työpaikalla.”

Annual report 2025A · The company itself

“Tokmanni -konsernin toimitusjohtaja ja johtoryhmä. Hankinnasta vastaava johtaja vastaa ensisijaisesti näiden periaatteiden toimeenpanosta konsernin liiketoiminnassa Seurantaprosessi Sekä toimittajien että riskimaissa sijaitsevien tehtaiden edellytetään allekirjoittavan toimittajien toimintaohje.”

Annual report 2025A · The company itself

“Tokmannikonserni on epäsuorassa vuorovaikutuksessa työntekijöiden kanssa Bangladesh Accord -yhteistyössä, joka keskittyy parantamaan turvallisuutta vaateja tekstiiliteollisuudessa.”

Annual report 2025A · The company itself

“Tokmanni -konsernin osallistuminen näiden organisaatioiden toimintaan keskittyy erityisesti ● tukku- ja vähittäiskaupan toimintaedellytysten kehittämiseen ● toimialayhteistyön ja yhteisten etujen edistämiseen ● ammatillisen osaamisen, työmarkkina-asioiden ja työnantajanäkökulmien kehittämiseen. Dollarstore-segmentti on lisäksi paikallisen Ethical Trade Sweden -järjestön jäsen ja osallistui vuonna 2025 ETI:n seminaareihin sekä sisäisiin koulutuksiin.”

Annual report 2025A · The company itself

“Additionally, we are subject to U.S. federal, state, and local employment laws that expose us to potential liability if we are determined to have violated such employment laws, including but not limited to, laws pertaining to minimum wage rates, overtime pay, discrimination, harassment, and wrongful termination.”

Annual report 2025A · The company itself

“However, laws or regulations, or judicial or administrative findings, could significantly curtail the use of particular types of underwriting criteria.”

Annual report 2025A · The company itself

“For example, changes to state law regarding workers’ compensation insurance or to requirements for other insurance products could impact the demand for our products, and the legalization of cannabis in certain states has, according to some studies, resulted in more automobile accidents.”

Annual report 2025A · The company itself

“Regulatory risks Compliance with international and U.S. laws and regulations that apply to our international operations can be complex, and exposes us to various risks related to potential non-compliance As a global company, our business is subject to a complex and evolving set of international and U.S. laws and regulations, including export control laws, import and trade restrictions or sanctions, anti-bribery laws, anti-competition regulations, data privacy requirements, labor relations laws, and tax laws.”

Annual report 2026A · The company itself

“Recent or potential future legislative initiatives may seek to increase the federal minimum wage in the United States, as well as the minimum wages in certain individual states or markets. As federal or state minimum wage rates increase, we may need to increase not only the wage rates of our minimum wage associates, but also the wages paid to our other hourly associates.”

Annual report 2026A · The company itself

“Our salon operations are subject to state board regulations and state licensing requirements for our stylists and salon procedures.”

Annual report 2026A · The company itself

“Failure to maintain compliance with these regulatory and licensing requirements could jeopardize the viability of our salons. ● We operate stores in California, which has enacted legislation commonly referred to as “Proposition 65” requiring that “clear and reasonable” warnings be given to consumers who are exposed to chemicals known to the State of California to cause cancer or reproductive toxicity.”

Annual report 2026A · The company itself

“If we are unable to reach an agreement with any of our unionized work groups in future negotiations regarding the terms of their collective bargaining agreement, we may be subject to work interruptions or stoppages, which could adversely affect our business and operations. There is also a possibility that our unionized work groups could engage in job actions such as slowdowns, work-to-rule campaigns, sick-outs or other similar activity designed to disrupt the Company's normal operations in an attempt to pressure the Company in collective bargaining negotiations.”

Annual report 2025A · The company itself

“Environmental and Safety Regulations Our operations are subject to numerous laws governing environmental protection and occupational health and safety matters. These laws regulate environmental issues such as wastewater, storm water, solid and hazardous wastes and materials, and air quality. Our operations generally do not raise significant environmental risks, but we use and store hazardous materials as part of maintaining our rental equipment fleet and the overall operations of our business, dispose of solid and hazardous waste and wastewater from equipment washing, and store and dispense petroleum products from storage tanks at certain locations.”

Annual report 2025A · The company itself

“Our 1,494 branch locations in the United States are located in 49 states, and Puerto Rico, which exposes us to a host of different state and local regulations, in addition to federal law and regulatory and contractual requirements we face as a government contractor. These laws and requirements address multiple aspects of our operations, such as employee safety, consumer rights, privacy, employee benefits and more.”

Annual report 2025A · The company itself

“Bransjen er dessuten svært mannsdominert og kan ha utfordringer med mangfold og likestilling, som kan føre til at noen ansatte ikke føler seg inkludert og akseptert, eller er mer utsatt for mobbing, ekskludering og trakassering.”

Annual report 2024A · The company itself

“An algorithm was implemented on FINN that detects and stops noninclusive ads and a campaign was launched in Norway to raise awareness on how to stop people in hiring positions from recruiting people similar to themselves, thereby making the processes more inclusive.”

Annual report 2024A · The company itself

“During 2024, we took action on matters related to business conduct, especially with regards to strengthened compliance and processes related to our own operation and our business partners. See the table below for the key actions performed during 2024.”

Annual report 2024A · The company itself

“To address the sustainability risks in our supply chain (e.g., human or labour rights risk, privacy/GDPR risks), we have internal guidelines for our procurement process that apply to our central procurement operations. These guidelines assist us in analysing, monitoring, assessing and developing our Supplier’s processes.”

Annual report 2024A · The company itself

“We have a long history of working with the Communications Workers of America and the International Brotherhood of Electrical Workers — the two unions that in total represented approximately 27% of our employees as of December 31, 2025.”

Annual report 2025A · The company itself

“We could be subject to significant supply interruptions for our commercial products or product candidates as a result of disruptions to our internal manufacturing capabilities or those of our suppliers or partners. Supply disruptions may result from a variety of factors, including shortages in product raw materials or labor, technical difficulties, regulatory inspections or restrictions, delays in construction, regulatory approval, and inspection of new facilities or the expansion of existing facilities, shipping or customs delays, inability to maintain compliance with quality or other regulations, including cGMP requirements, general global supply chain disruptions, and performance failures by us or any third-party manufacturer on which we rely.”

Annual report 2025A · The company itself

“In 2025, we strengthened our supplier due diligence process through automation, ensuring a stronger level of control and data quality.”

Annual report 2025A · The company itself

“Denna klagomålsmekanism är utformad för att ge arbetstagarna i värdekedjan en säker och strukturerad process för att ta upp arbetsrelaterade frågor som exem pelvis trakasserier, diskriminering, orättvis behandling, säkerhetsrisker eller brott mot koncernens uppförandekod för leverantörer. Mekanismen är tillgänglig för alla arbetstagare och underleverantörer.”

Annual report 2024A · The company itself

“Förändringar i lagstiftningen eller politiska beslut kan påverka koncernens möjlighet att bedriva eller utveckla verksamheten på ett positivt eller negativt sätt. Efterfrågan på behandlingar kan påverkas av förändringar i offentliga ersättningsprogram, försäkringstäckning, alternativa behandlingar eller förändringar i tillgänglighet för vissa grupper av människor.”

Annual report 2024A · The company itself

“De största risker som Volvo Cars står inför är ökande komplexitet, kostnader och konsekvenser när vi är verksamma på marknader med olika lagkrav, där driftskostnader och administrativ börda ökar medan vi bibehåller efterlevnaden inom alla jurisdiktioner. I takt med att lagar och regler utvecklas i olika jurisdiktioner måste Volvo Cars ständigt anpassa affärsprocesser och policyer för att efterleva kraven.”

Annual report 2024A · The company itself

“Additionally, Grainger's operational flexibility could be impacted by work stoppages or slowdowns resulting from collective bargaining or unionization efforts by team members, or situations preventing team members from accessing Grainger facilities such as social unrest, major weather events or significant threats to public safety.”

Annual report 2025A · The company itself

“Moreover, changes in immigration policies may impair our ability to recruit, hire and retain technical and professional talent globally.”

Annual report 2025A · The company itself

“The wide array of laws, regulations and standards in each jurisdiction where Grainger operates, include, but are not limited to, advertising, marketing and internet regulations (including the use of proprietary or third-party “cookies” in connection with Grainger’s eCommerce platforms), anti-bribery and corruption laws, competition and antitrust regulations, data protection (including, because Grainger accepts credit cards, the Payment Card Industry Data Security Standard), data privacy (including in the U.S., the California Consumer Privacy Act and Privacy Rights Act, in Japan, the Act on Protection of Personal Information, and in the European Union, the General Data Protection Regulation) and cybersecurity requirements (including protection of information and incident responses), environmental protection laws, currency exchange controls and cash repatriation restrictions, health and safety laws, import and export compliance (including the U.S.”

Annual report 2025A · The company itself

“These entities typically govern equipment, safety and interoperability standards for freight rail rolling stock and passenger transit, oversee a wide variety of rules and regulations governing safety and design of equipment, and evaluate certification and qualification requirements for suppliers. New products are generally subject to rigorous and lengthy testing and approval processes.”

Annual report 2025A · The company itself

“Inom bygg-och fastighetsbranschen finns risker relaterade till bland annat arbetsmiljö, korruption, mänskliga rättigheter, klimat och miljö. I våra projekt och i vår förvaltning är leverantörsleden ibland långa med många aktörer, varor och tjänster som upphandlas. Vår uppförandepolicy med tillhörande riktlinjer bygger på bolagets kärnvärden – respekt, engagemang och utveckling – och tydliggör vad som förväntas av våra medarbetare och leverantörer avseende arbetsvillkor, hållbarhetsfrågor, mänskliga rättigheter samt korruption och mutor.”

Annual report 2024A · The company itself

“We prioritize the financial, physical and mental well-being of our associates by offering competitive wages and a broad range of benefits designed to meet the diverse needs of our global workforce and their eligible dependents. In the U.S., these benefits include a 401(k) match, Associate Stock Purchase Plan match, associate discounts, predictable scheduling practices, paid time off, life insurance, medical coverage (for most plans, this includes no-cost virtual care and no-cost centers of excellence program for certain complex conditions), behavioral health services, family building benefits, maternity leave and paid parental leave for full-time associates.”

Annual report 2026A · The company itself

“Certain foreign employees of the Company are represented by works councils, unions or similar non-U.S. employee representative bodies in the United Kingdom, France, Germany, Brazil, Spain, China, Israel, Japan, Mexico and other foreign jurisdictions. Strikes, work slowdowns, work stoppages or the possibility of such actions in such jurisdictions could result in delays in production or cause the Company to incur higher costs.”

Annual report 2025A · The company itself

“In 2024, as part of President Biden’s nursing home reform initiative, CMS issued a Final Rule establishing minimum staffing standards for long-term care facilities that would have required enhanced minimum nurse staffing levels. However, on December 2, 2025, HHS and CMS announced repeal of the Final Rule.”

Annual report 2025A · The company itself

“Under U.K. occupational health and safety legislation, all employers are subject to a general “duty of care” to protect their employees and others (which in the case of care homes includes residents and visitors) from harm arising from their work activities, as well as a wide range of more prescriptive duties and responsibilities (including under some environmental legislation). Failure to comply with U.K. health and safety or environmental legislation is a strict liability offense.”

Annual report 2025A · The company itself

“The U.K. has national minimum wage legislation with a maximum fine for non-payment of £20,000 per worker and employers who fail to pay will be banned from being a company director for up to 15 years. Further, all employers in the U.K. are subject to strict immigration law rules under the Immigration Act 1971 which require them to ensure that all of their employees and workers have the right to work in the U.K.”

Annual report 2025A · The company itself

“For example, California SB-525, which became effective in June 2024, requires certain healthcare facility employers to pay wages for certain covered employees that are higher than other state-mandated minimum wages.”

Annual report 2025A · The company itself

“Under 2025 kan Öresundsbron med sina 25 år stoltsera med framgångar som att vara en bärande del i Nordens största arbetsmarknadsregion, ökad social, kulturell och ekonomisk integration mellan Sverige och Danmark och med rekord 2024 för trafiken över bron. Dessa framgångar är viktiga förutsättningar för Öresundsregionens och därmed Wihlborgs långsiktiga attraktivitet.”

Annual report 2024A · The company itself

“Det är viktigt att säkerställa en god arbetsmiljö för våra medarbetare både vad gäller den fysiska och den psykosociala miljön. Eftersom vi utvecklar och förvaltar fastigheter som utgör arbetsplatser och mötesplatser för våra kunder påverkar vi, och har ett ansvar för, även deras arbetsmiljö. Vidare vistas leverantörer också i våra fastigheter i samband med nybyggnadsprojekt, ombyggnationer eller vid leverans av tjänster i form av service och drift.”

Annual report 2024A · The company itself

“New laws and regulations, including those pertaining to oil and gas hedging and cash collateral requirements, might also be adopted or become applicable to Williams, Transco, and NWP, their customers, or their business activities. If new laws or regulations are imposed relating to oil and gas extraction, or if additional or revised levels of reporting, regulation, or permitting moratoria are required or imposed, including those related to hydraulic fracturing, the volumes of natural gas and other products that Williams, Transco, and NWP transport, gather, process, and treat could decline, compliance costs could increase, and results of operations could be adversely affected.”

Annual report 2025A · The company itself

“In addition, the demand for many of our core benefit services, including compliance-related services, is affected by government regulation and taxation of employee benefit plans. Significant changes in tax or social welfare policy or other regulations could lead some employers to discontinue their employee benefit plans, including defined benefit pension plans, thereby reducing the demand for our services.”

Annual report 2025A · The company itself

“Given the uncertainties relating to legal, statutory and regulatory changes that affect health insurance plans across the globe, the impact is difficult to determine, but it could have material negative effects on us if we are not able to adapt to such changes, including: • increasing our competition; • reducing or eliminating the need for health insurance agents and brokers or demand for the health insurance that we sell; • decreasing the number of types of health insurance plans that we sell, as well as the number of insurance carriers offering such plans; • causing insurance carriers to change the benefits and/or premiums for the plans they sell; or • causing insurance carriers to reduce the amount they pay for our services or change our relationship with them in other ways.”

Annual report 2025A · The company itself

“Wästbygg Gruppen är medlemmar i flertalet intresseorganisationer såsom, Håll Nollan, Byggföretagen och Byggbranschens Säkerhetspark. Tillsammans med andra aktörer i byggbranschen samverkar vi för en säker och sund arbetsmiljö på våra byggarbetsplatser.”

Annual report 2024A · The company itself

“Verksamhetspolicy, Resepolicy, samt Klimatsmart byggarbetsplats Antikorruption Uppförandekod, Affärsetiska riktlinjer samt Inköpskrav Mänskliga rättigheter Uppförandekod, Verksamhetspolicy, Likabehandlingsplan, Arbetsmiljöprogram, Policy för trivsel, arbetsmiljö och hälsa, Policy för säkerhet och trygghet på arbetsplatser och kontor, Policy för rekrytering och personlig utveckling samt UE2021 Certifieringar ISO 9001:2015, ISO 14001:2015 samt ISO 45001:2018 Utöver detta ska en kvalitets- och miljöplan presenteras för att säkerställa rutiner för kvalitets- och miljöarbetet.”

Annual report 2024A · The company itself

“Macro growth drivers include increasing regulation, aging infrastructure, optimizing operational costs and worldwide movement towards smart grid implementation and advanced metering infrastructure.”

Annual report 2025A · The company itself

“Yara is committed to ensuring all employees earn a living wage. We believe this is key to providing decent work and reducing inequality.”

Annual report 2024A · The company itself

“Yhtiö aikoo myös parantaa työturvallisuutta ja sitoutuu tinkimättömästi jatkuvaan parantamiseen tällä painopistealueella.”

Annual report 2025A · The company itself

“Zalaris aligns its policies with internationally recognized human rights and Labour standards, specifically the ILO Core Conventions and the United Nations Declaration on Human Rights.”

Annual report 2024A · The company itself

“Zalaris maintains a comprehensive workplace accident prevention policy and management system to safeguard employee health and safety.”

Annual report 2024A · The company itself

“We have recently updated our Code of Business Conduct to further refine and reinforce our approach to responsible business practices. In our ongoing commitment to ethical conduct, Zealand Pharma updated its Supplier Code of Conduct in 2025.”

Annual report 2025A · The company itself

“Recent legal and regulatory changes may affect our ability to enforce post-termination obligations from certain employees and third parties with respect to non-competition, non-solicitation and protection of confidential information, which may negatively impact our ability to retain key employees and third-party distributors and to protect our information and relationships with our customers. Competition for talent in our business is significant. Our ability to attract and retain key employee and third-party talent is dependent on a number of factors, including prevailing market conditions, our ability to offer competitive compensation packages, our ability to be perceived as a preferred place to work and the contract terms we offer to third parties.”

Annual report 2025A · The company itself

“Restrictions and bans on the use of and/or consumer preferences regarding antibacterials in food-producing animals may become more prevalent. The issue of the potential transfer of increased antibacterial resistance in bacteria from food-producing animals to human pathogens, and the causality of that transfer, continue to be the subject of global scientific and regulatory discussion. In some countries, this issue has led to government restrictions and bans on the use of specific antibacterials in some food-producing animals.”

Annual report 2025A · The company itself

“For example, regulations regarding antibiotic usage in animals have been introduced in several markets, including the U.S., the EU, the U.K., China and Vietnam. In addition, certain jurisdictions like Italy have implemented the use of electronic prescriptions, which has caused more disciplined use of antibiotics and decreased the demand for our antibacterial products. Also, in certain markets, there has been an increase in consumer preference towards proteins produced without the use of antibiotics.”

Annual report 2025A · The company itself

“Increased regulation or decreased governmental financial support relating to the raising, processing or consumption of food-producing animals could reduce demand for our livestock products. Companies in the livestock industries are subject to extensive and increasingly stringent regulations. If livestock producers are adversely affected by new regulations or changes to existing regulations, they may reduce herd sizes or become less profitable and, as a result, they may reduce their use of our products, which may materially adversely affect our operating results and financial condition.”

Annual report 2025A · The company itself

“Our total revenue attributable to antibacterials for livestock was approximately $713 million for the year ended December 31, 2025.”

Annual report 2025A · The company itself

“Generellt är könsfördelningen i koncernen jämn, vilket dock inte avspeglas bland ledande befattningshavare. Idag är könsbalansen på bolaget 56% män och 44% kvinnor medan könsbalansen i ledande befattningar är 65% män och 35% kvinnor.”

Annual report 2023A · The company itself

“In Norway, we were again rated as the second most attractive employer among engineering students and professionals.”

Annual report 2024A · The company itself

“The Toxic Substances Control Act (“TSCA”), as amended in June 2016, requires chemicals to be assessed against a risk-based safety standard and calls for the elimination of unreasonable risks identified during risk evaluation. This regulation and other pending initiatives at the U.S. state level, as well as initiatives in Canada, Asia and other regions, will potentially require toxicological testing and risk assessments of a wide variety of chemicals, including chemicals used or produced by us.”

Annual report 2025A · The company itself

“Apotek kan även köpa in läkemedel via parallellimport och licensläkemedel från andra aktörer, men distributionen måste ske genom auktoriserade apotek.”

Annual report 2024A · The company itself

“The Group implemented comprehensive work policies to ensure equality, promote employee well-being, and foster a culture of safety, and respect. These policies support fair treatment, accountability, professional development, and facilitating a positive working environment for all team members.”

Annual report 2024A · The company itself

“This subjects us to a number of risks, including international economic, political, and labor conditions; currency fluctuations; tax laws (including U.S. taxes on foreign subsidiaries); increased financial accounting and reporting burdens and complexities; unexpected changes in, or impositions of, legislative or regulatory requirements; failure of laws to protect intellectual property rights adequately; inadequate local infrastructure and difficulties in managing and staffing international operations; delays resulting from difficulty in obtaining export licenses for certain technology; tariffs, quotas and other trade barriers and restrictions; transportation delays; operating in locations with a higher incidence of corruption and fraudulent business practices; and other factors beyond our control, including terrorism, war, natural disasters, climate change and diseases.”

Annual report unknown yearA · The company itself

“As a publicly traded company incorporated in Switzerland, Bunge is also required under Swiss law to prepare a report covering five non-financial matters, namely environmental matters (in particular climate issues), social issues, employee-related issues (including diversity aspects), respect for human rights, and combating corruption.”

Annual report 2025A · The company itself

“Factors which could increase or decrease our future liquidity include but are not limited to volatility in capital and credit markets, changes in costs, changes in governmental regulations, including tariffs and rent control or rent stabilization laws, sources of financing, the minimum REIT dividend requirements, our ability to complete asset purchases, sales, or developments, the effect our debt level and changes in credit ratings could have on our cost of funds, and our ability to access capital markets.”

Annual report 2025A · The company itself

“Such negative publicity could relate to, among other things, health or quality concerns, threatened or pending litigation or regulatory proceedings, animal welfare, labor and human rights and environmental impact (including responsible sourcing, deforestation, packaging, plastic, energy and water use and waste management) or where we operate.”

Annual report 2025A · The company itself

“Further, changes in immigration laws and government policies and practices and developments in trade relations have made, in certain circumstances, and may continue to make it more difficult for us to recruit or relocate highly skilled technical, professional and management personnel to meet our business needs.”

Annual report 2025A · The company itself

“Förändringar i Sveriges eller övriga verksamhetsländernas lagstiftning och regelverk, för exempelvis bolags- och fastighetsskatt, kan påverka förutsättningarna för verksamheten.”

Annual report 2024A · The company itself

“Risk Elopak has a regional risk of labor right violations in Saudi Arabia, Morocco and India.  Equal treatment and opportunities for all S1.4 Negative impact (actual) In line with general trends seen in the process industry, Elopak has an overrepresentation of men in its workforce.     S1.5 Negative impact (potential) If Elopak’s culture does not promote diversity, equity and inclusion, it may affect employees’ development, health and well-being.     S2 Workers in the value chain Working conditions S2.1 Negative impact (actual) There is a risk that suppliers and sub-suppliers do not meet satisfactory safety requirements according to Elopak standards, including exposure to certain raw materials.     Other work related rights S2.2 Negative impact (potential) There is a risk that workers in the supply chain experience conditions of forced labor, and are subject to unfavorable employment terms, wages and working hours.”

Annual report 2024A · The company itself

“Our employees are not subject to any collective bargaining agreements, and we have experienced no work stoppages.”

Annual report 2025A · The company itself

“We also will need to continue to attract, motivate, and retain other key personnel as well as maintain employee safety and well-being.”

Annual report 2025A · The company itself

“Additionally, changes to immigration policies and travel restrictions due to public health crises or other causes may limit our ability to hire, retain, or transfer talent to specific locations.”

Annual report 2025A · The company itself

“The general strike in the Faroe Islands in May and June significantly impacted raw material sourcing, delaying production and leading to lower external sales of fishmeal and fish oil.”

Annual report 2024A · The company itself

“These processes ensure a nondiscriminating, secure working environment, follow local labor law regulations and are compliant with the Norwegian Working Environment Act, the European Directive 89/381- OSH and the U.S. employment law and standards, as well as aligning to industry best practices.”

Annual report 2024A · The company itself

“According to the Global Rights Index provided by Transparency International and the International Trade Union Confederation (ITUC), the countries where we operate are categorized as having low to moderate risks of workers’ rights violations.”

Annual report 2024A · The company itself

“Myös ammattiliittojen lakot ovat Rautelle lyhyen aikavälin riski.”

Annual report 2025A · The company itself

“Our long-term ambition is to cover our entire spend, which is why we continue to assess outstanding and new suppliers based on location and industry before onboarding them. ● We closely monitor supplier performance and implement corrective action plans where necessary. ● We conduct on-site audits of selected suppliers categorised as high-risk, based on a defined set of criteria, including compliance with human and labour rights. ● We source products that meet the latest standards from suppliers who respect human and labour rights. ● By the end of 2025, we will have exceeded our 2026 target of 25% women in senior management.”

Annual report 2025A · The company itself

“We are subject to various federal, state, provincial, regional and local laws, rules and regulations, including the Foreign Corrupt Practices Act and other anti-bribery laws, anti-money laundering laws, import restrictions, responsible sourcing, and sanctions programs, in the countries in which we operate with respect to many aspects of our business, such as food safety and sanitation, ethical business practices, transportation, minimum wage, overtime, wage payment, wage and hour and employment discrimination, immigration, human health and safety.”

Annual report 2026A · The company itself

“There continues to be uncertainty on the federal government’s applicable jurisdictional reach under the Clean Water Act over waters of the United States, including wetlands, as the EPA and the U.S. Army Corps of Engineers (“Corps”) have pursued multiple rulemakings since 2015 in an attempt to determine the scope of such reach. Following legal challenges, the implementation of the most recent September 2023 rule currently varies by state.”

Annual report 2025A · The company itself

“Detta främst till följd av lägre intäkter från fast telefoni samt företagslösningar som en följd av press på intäkter från föråldrade tjänster, regulatoriska förändringar, samt beslutet att avveckla den existerande och olönsamma verksamheten inom e-fakturering.”

Annual report 2024A · The company itself

“We are required to provide natural gas service and grant credit (with applicable deposit requirements) to customers within our service territories. We are generally not allowed to discontinue natural gas service during winter moratorium months to residential heating customers who do not pay their bills.”

Annual report 2025A · The company itself

“Changes in immigration laws and regulations, or more robust enforcement of new or existing laws, may impair our ability to recruit and hire technical and professional talent.”

Annual report 2026A · The company itself