IT operations and cloud

“AbbVie relies on sophisticated software applications and complex information technology systems (including cloud services) to operate its business, which are inherently vulnerable to malicious intrusion, random attack, loss of data privacy, disruption, degradation or breakdown. Certain of these applications and systems are managed, hosted, provided or used by third parties. Data privacy or security breaches of our internal systems or those of our information technology vendors may in the future result in the failure of critical business operations.”

Annual report 2025A · The company itself

“These risks will likely increase as we expand our hosted solutions, integrate our solutions and store and process more data.”

Annual report 2025A · The company itself

“If such third parties are negatively affected, if we fail to effectively develop, manage and maintain our relationships with such third parties, or if we are unable to renew our agreements with them on favorable terms or at all, our expenses could significantly increase, and we and our customers may experience service interruptions.”

Annual report 2025A · The company itself

“Further, interruptions in our services caused by us or our third-party service providers may cause us to issue credits or pay penalties, cause customers to make warranty or other claims against us or to terminate their subscriptions or contracts, and adversely affect our attrition rates and our ability to attract new customers, all of which may adversely affect our financial results.”

Annual report 2025A · The company itself

“Much of our business, including our online store at adobe.com, our cloud solutions and various business processes such as our enterprise resource planning system and customer and sales support, relies on hardware and services that are hosted, managed and controlled directly by us or third-party service providers to be available to our customers and users without disruption.”

Annual report 2025A · The company itself

“We also rely on third-party service providers and technologies to deliver our solutions and business operations and to operate critical business systems, such as cloud-based infrastructure, data center facilities, generative AI, large language models, encryption and authentication technology, company email and other communication channels, and communications with customers.”

Annual report 2025A · The company itself

“Subscription Cost of subscription revenue consists primarily of third-party hosting services and data center costs, including expenses related to operating our network infrastructure and AI inferencing costs.”

Annual report 2025A · The company itself

“In addition, these third parties may breach or fail to perform their agreements with us, disagree with our interpretation of contract terms or applicable laws and regulations, refuse to continue or renew these agreements on commercially reasonable terms or at all, fail to or refuse to process transactions or provide other services adequately, take actions that degrade the functionality of our platform and services, increase prices, impose additional costs or requirements on us or our customers, or give preferential treatment to our competitors.”

Annual report 2025A · The company itself

“We own and manage some IT Systems but also rely on third parties for a range of IT Systems, which include our infrastructure, and related products and services, including, among others, cloud computing services and other third parties for the provision of our community support and other critical operations.”

Annual report 2025A · The company itself

“We rely primarily on Amazon Web Services in the United States and abroad to host and deliver our platform.”

Annual report 2025A · The company itself

“Third parties also provide services to key aspects of our operations, including Internet connections and networking, messaging, data storage and processing, trust and safety, infrastructure, source code storage and management, and testing and deployment. In addition, we rely on third parties for many aspects of our payments platform, and the vast majority of our community support operations is performed by a limited number of third-party service providers.”

Annual report 2025A · The company itself

“We also rely on Google Maps and other third-party services for maps and location data that are core to the functionality of our platform, and we integrate applications, content, and data from third parties to deliver our platform and services.”

Annual report 2025A · The company itself

“In 2025, we substantially completed a rebuild of our technology stack, enhancing scalability, reliability, and the pace of innovation across the platform. This modern architecture enables us to move rapidly in responding to changing customer needs while maintaining stability and correctness.”

Annual report 2025A · The company itself

“The failure of cyber or other information security controls, could result in a loss or disclosure of confidential information, damage to our reputation, additional costs and impair our ability to conduct business effectively We use technology algorithms, machine based learning, artificial intelligence and data to perform necessary business functions. There are threats that could impact our ability to protect our data and systems; if the threats materialize, they could impact: •Confidentiality — protecting our data from disclosure to unauthorized parties •Integrity — ensuring data is not changed accidentally or without authorization and is accurate •Availability — ensuring our data and systems are accessible to meet business needs We collect, use, store or transmit a large amount of confidential, proprietary and other information (including personal information of customers, claimants and employees) in connection with the operation of our business.”

Annual report 2025A · The company itself

“Integrated operational risk and return management processes and practices may not be sufficient to timely detect, mitigate and respond to cybersecurity operational risks, including those posed by the use of third-party services (e.g., cloud technology, software as a service) and artificial intelligence.”

Annual report 2025A · The company itself

“Loss of key vendor relationships, disruptions to the provision of products or services by a vendor, a vendor’s failure to restore critical services after a cybersecurity event, or failure of a vendor to provide and protect reliable data, and proprietary information, or personal information of our customers, claimants or employees could adversely affect our operations We rely on services and products provided by many vendors in the U.S. and abroad. These include vendors of computer hardware, software, cloud technology and software as a service, as well as vendors or outsourcing of services such as: •Claim and administrative services •Call center services for customer support •Human resource benefits management •Information technology support •Investment management services •Financial and business support services We continue to identify ways to improve operating efficiency and reduce cost, which may result in additional outsourcing arrangements or increased reliance on third-party technologies in the future.”

Annual report 2025A · The company itself

“Teknologiainfra struktuurin haavoittuvuus Yhtiön omien IT-ratkaisujen tai asiakkaille suunnattujen palvelujen häiriintyminen riittämättömän skaalautuvuuden tai joustavuuden vuoksi sekä palvelujen häiriintyminen odottamattomien teknisen infrastruktuurin katkosten (mukaan lukien tietokeskukset ja -verkot) vuoksi.”

Annual report 2025A · The company itself

“Keskeisiä operatiivisia riskejä ovat tietotekniikan ja viestinnän häiriöt, kyberriskit sekä AI-järjestelmien toimintahäiriöt.”

Annual report 2025A · The company itself

“Tämä koskee myös kriittisiä digitaalisia palveluja ja työkaluja, mukaan lukien tekoälypalvelut, joiden saatavuus, käyttöehdot, hinnoittelu tai elinkaari voivat muuttua nopeasti.”

Annual report 2025A · The company itself

“We rely extensively on information technology, much of which is managed by third-party service providers (such as cloud data service providers), to support a variety of business processes and activities, including: complying with regulatory, legal, financial reporting and tax requirements; engaging in marketing and e-commerce activities; managing and improving the effectiveness of our operations; researching, developing, manufacturing and distributing our operating companies’ products; collecting and storing sensitive data and confidential information; and communicating with employees, investors, suppliers, trade customers, adult nicotine consumers and others. Our suppliers, supply chain service providers and trade customers also rely extensively on information systems.”

Annual report 2025A · The company itself

“If too many customers access our websites within a short period of time due to increased demand, we may experience system interruptions that make our websites unavailable or prevent us from efficiently fulfilling orders, which may reduce the volume of goods we offer or sell and the attractiveness of our products and services.”

Annual report 2025A · The company itself

“We Face Risks Related to Successfully Optimizing and Operating Our Fulfillment Network and Data Centers Failures to adequately predict customer demand and consumer spending patterns or otherwise optimize and operate our fulfillment network and data centers successfully from time to time result in excess or insufficient fulfillment or data center capacity, service interruptions, increased costs, and impairment charges, any of which could materially harm our business. As we continue to add fulfillment and data center capability or add new businesses with different requirements, our fulfillment and data center networks become increasingly complex and operating them becomes more challenging.”

Annual report 2025A · The company itself

“We use third-party technology and systems for a variety of reasons, including, without limitation, artificial intelligence technologies, encryption and authentication technology, employee email and other communication technologies, content delivery to customers, back-office support, and other functions. Some of our systems have experienced past security incidents, and, although they did not have a material adverse effect on our operating results, there can be no assurance that future incidents will not have material adverse effects on our operations or financial results.”

Annual report 2025A · The company itself

“We Face Risks Related to System Interruption and Lack of Redundancy We experience occasional system interruptions and delays that make our websites and services unavailable or slow to respond and prevent us from efficiently accepting or fulfilling orders or providing services to customers and third parties, which may reduce our net sales and the attractiveness of our products and services. Steps we take to add software and hardware, upgrade our systems and network infrastructure, and improve the stability and efficiency of our systems may not be sufficient to avoid system interruptions or delays that could adversely affect our operating results.”

Annual report 2025A · The company itself

“Table of Contents Technology and Infrastructure Technology and infrastructure costs include payroll and related expenses for employees involved in the research and development of new and existing products and services, development, design, and maintenance of our stores, curation and display of products and services made available in our online stores, and infrastructure costs. Infrastructure costs include servers, networking equipment, and data center related depreciation and amortization, rent, utilities, and other expenses necessary to support AWS and other Amazon businesses.”

Annual report 2025A · The company itself

“Developers and Enterprises We serve developers and enterprises of all sizes, including start-ups, government agencies, and academic institutions, through AWS, which offers a broad set of on-demand technology services, including compute, storage, database, analytics, artificial intelligence and machine learning, and other services.”

Annual report 2025A · The company itself

“(Applies to all Registrants) Performance is highly dependent on the successful operation of generation, transmission and/or distribution facilities. Operating these facilities involves many risks, including: •Operator error and breakdown or failure of equipment or processes. •Operating limitations that may be imposed by environmental or other regulatory requirements. •Labor disputes. •Compliance with mandatory reliability standards, including mandatory cybersecurity standards. •Information technology failure, including failure of AI technology, that impairs AEP’s information technology infrastructure or disrupts normal business operations. •Information technology failure that affects AEP’s ability to access customer information or causes loss of confidential or proprietary data that materially and adversely affects AEP’s reputation or exposes AEP to legal claims.”

Annual report 2025A · The company itself

“(Applies to all Registrants) AEP’s operations are dependent upon the proper functioning of its internal systems, including the information technology systems that support underlying business processes. Any significant failure or malfunction of such information technology systems may result in disruptions of operations.”

Annual report 2025A · The company itself

“Our ability to adopt new technologies may be inhibited by the emergence of industry-wide standards, a changing legislative and regulatory environment, an inability to develop appropriate governance and controls, a lack of internal product and engineering expertise, resistance to change from Card Members, merchants or service providers, lack of appropriate change management processes or the complexity of our systems. In addition, our adoption of new technologies and our introduction of new products and services may increase operational complexity and risk, and expose us to new or enhanced risks, particularly in areas where we have less experience or our existing governance and control systems may be insufficient, which could require us to make substantial expenditures or subject us to legal liability, heightened regulatory scrutiny and brand or reputational harm.”

Annual report 2025A · The company itself

“The uninterrupted operation of our information systems is critical to our success and a significant disruption could have a material adverse effect on our business and results of operations. We rely extensively on our information technology systems and those of our third parties, including our transaction authorization, clearing and settlement systems, data centers and cloud data storage and processing services, which have experienced and may continue to experience service disruptions or degradation that may result from technology malfunction, sudden increases in 29 Table of Contents processing or other volumes, natural disasters and weather events, fires, accidents, technology change management issues, power outages, internet outages, telecommunications failures, fraud, denial-of-service, ransomware and other cyberattacks, inadequate infrastructure in lesser-developed markets, technology capacity management issues, terrorism, computer viruses, vulnerabilities or failures in hardware or software, physical or electronic break-ins, or other operational issues or similar events.”

Annual report 2025A · The company itself

“Due to the interconnectivity and complexity of information systems and their reliance on common systems, software and vendors (e.g., large technology and cloud-service providers), disruptions or degradations have had, and will likely continue to have, wide-reaching consequences, including the potential to disrupt the overall financial system and other key systems in the global economy. Service disruptions or degradations impacting us or our partners can prevent access to online services and account information, compromise or limit access to company or customer data, impede or prevent transaction processing, communications to customers and financial reporting, disrupt ordinary business operations, result in contractual penalties or obligations, trigger regulatory reporting obligations, and lead to regulatory investigations and fines, increased regulatory oversight, and litigation (including class action litigation). Any such service disruption or degradation could adversely affect the perception of the reliability of our products and services and materially adversely affect our overall business, reputation and results of operations.”

Annual report 2025A · The company itself

“Such disruptions, operational issues, control and process weaknesses or other events could interrupt or compromise the quality of our services to customers, impact the confidentiality, integrity, availability and security of our data, lead to fraudulent transactions on our cards or other products, impact our business, cause brand or reputational damage, and lead to costs associated with responding to a disruption, including notification and remediation costs, costs to switch service providers or move operations in house, regulatory investigations and fines and increased regulatory oversight and litigation.”

Annual report 2025A · The company itself

“We rely on third-party service providers, cobrand partners, merchants, dining partners, affiliate marketing firms, merchant acquirers, processors, payment facilitators, network partners and other third parties for services that are integral to our operations and are subject to the risk that activities of such third parties may adversely affect our business. As outsourcing, specialization of functions, third-party digital services and technology innovation within the payments industry and related service functions increase (including with respect to mobile technologies, tokenization, big data, AI and cloud-based solutions), more third parties are involved in processing payment transactions, handling our data and supporting our operations and we may require significantly greater scale from these third parties.”

Annual report 2025A · The company itself

“Our industry is subject to rapid and significant technological changes. In order to compete in our industry, we need to continue to invest in technology across all areas of our business, including in transaction processing, data management and analytics, AI & ML (including agentic commerce), customer interactions and communications, open banking and alternative payment and financing mechanisms (including related to digital currencies and blockchain technologies), authentication technologies and digital identification, tokenization, real-time settlement and risk management and compliance systems.”

Annual report 2025A · The company itself

“Aon has from time-to-time experienced and may experience in the future problems with the information technology systems of vendors, including breakdowns or other disruptions in communication services provided by a vendor, failure of a vendor to handle current or higher volumes, difficulties in the migration of services or data to third parties or the cloud hosted by third parties, cyber-attacks, and security breaches, any of which could adversely affect our ability to deliver products and services to customers and otherwise conduct business.”

Annual report 2025A · The company itself

“We rely on third parties, and in some cases subcontractors, to provide services, data, and information such as technology, information security, funds transfers, data processing, support functions, and administration that are critical to the operations of our business.”

Annual report 2025A · The company itself

“Information Technology Information technology, which represents costs associated with supporting and maintaining our infrastructure, increased $29 million, or 5%, in 2025 compared to 2024. The increase was primarily due to the inclusion of ongoing operating expenses from NFP and an increase in expenses associated with 6% organic revenue growth, partially offset by savings from Accelerating Aon United restructuring actions.”

Annual report 2025A · The company itself

“Purchase obligations are defined as agreements to purchase goods and services that are enforceable and legally binding on us, and that specify all significant terms, including the goods to be purchased or services to be rendered, the price at which the goods or services are to be rendered, and the timing of the transactions. Most of our purchase obligations are related to purchases of information technology services or other service contracts.”

Annual report 2025A · The company itself

“Accelerating Aon United Program Expenses In the third quarter of 2023, we initiated a three-year restructuring program called Accelerating Aon United Program (the “Program” or the “AAU Program”) with the purpose of streamlining our technology infrastructure, optimizing our leadership structure and resource alignment, and reducing the real estate footprint to align to our hybrid working strategy. The Program includes technology-related costs to facilitate streamlining and simplifying operations, headcount reduction costs, and costs associated with asset impairments, including real estate consolidation and technology costs.”

Annual report 2025A · The company itself

“Accelerating Aon United Program In the third quarter of 2023, Aon initiated a three-year restructuring program called the Accelerating Aon United Program (the “Program” or the “AAU Program”) with the purpose of streamlining the Company’s technology infrastructure, optimizing its leadership structure and resource alignment, and reducing the real estate footprint to align to its hybrid working strategy. The Program includes technology-related costs to facilitate streamlining and simplifying operations, headcount reduction costs, and costs associated with asset impairments, including real estate consolidation and technology costs.”

Annual report 2025A · The company itself

“A disaster, disruption or compromise in technology or infrastructure that supports our businesses, including a disruption involving electronic communications or other services used by us, our vendors or third parties with whom we conduct business, may have an adverse impact on our ability to continue to operate our businesses without interruption which could have a material adverse effect on us. These risks could increase as vendors increasingly offer cloud-based software services rather than software services that can be operated within our own data centers.”

Annual report 2025A · The company itself

“We are also dependent on an increasingly concentrated group of third-party vendors that we do not control for hosting the information systems and hardware systems that are critical to our businesses. We rely on third-party service providers for certain aspects of our businesses, including for certain information systems, technology and administration of the funds we manage and compliance matters. While we require our critical third-party suppliers to implement and maintain what we believe to be effective cybersecurity and data protection measures, we cannot guarantee that third parties and infrastructure in our supply chain or our partners’ supply chains have not been compromised or that they do not contain exploitable defects or bugs 39 Table of Contents that could result in a breach of or disruption to our information technology systems or the third-party information technology systems that support our services.”

Annual report 2025A · The company itself

“As we digitize Autodesk and use cloud- and web-based technologies to leverage customer data to deliver the total customer experience, we are exposed to increased security risks and the potential for unauthorized access to, or improper use, disclosure, or other processing of, our and our customers’ information.”

Annual report 2026A · The company itself

“We continually review these investments to ensure that we are generating sufficient revenue or gaining a competitive advantage to justify their costs. The majority of our research and product development is performed in the United States, Canada, and India.”

Annual report 2026A · The company itself

“We rely on third parties, such as Amazon Web Services, to provide us with operational and technical services.”

Annual report 2026A · The company itself

“From time to time, we may rely on a single or limited number of suppliers, or upon suppliers in a single country, for the provision of services and materials that we use in the operation of our business and production of our solutions.”

Annual report 2026A · The company itself

“We continually invest resources to update and improve these systems to meet the evolving requirements of our business and customers. In particular, our transition to cloud-based 26 Table of Contents products and a subscription-only business model involves considerable investment in the development of technologies, as well as back-office systems for technical, financial, compliance, and sales resources.”

Annual report 2026A · The company itself

“Our systems, applications, solutions and services may be subject to disruptions that could have a materially adverse effect on our business, operations, financial condition, results of operations or reputation Many of our businesses are highly dependent on our ability to process, on a daily basis, a large number of complicated transactions. We rely heavily on our payroll, financial, accounting, and other data processing systems.”

Annual report 2026A · The company itself

“A disruption of the data centers or cloud-computing or other technology services or systems that we utilize could have a materially adverse effect on our business, operations, financial condition or results of operations We host our applications and serve our clients with data centers that we operate, and with data centers that are operated, and cloud-computing and other technology services and systems that are provided, by third-party vendors.”

Annual report 2026A · The company itself

“Additionally, operating expenses increased by $188.9 million due to higher service and implementation costs in support of our growing revenue, $74.4 million million primarily due to higher hosting, cloud-based service, and software license costs in support of our products and solutions, and by $37.1 million due to an increase in costs related to workers' compensation coverage and state unemployment taxes for worksite employees.”

Annual report 2026A · The company itself

“We rely extensively on information technology systems, some of which are managed or provided by third-party service providers, to collect, analyze, process, store, manage, transmit and protect key business processes, transactions and data, such as sales data, customer data, employee data, demand forecasting, merchandise ordering, inventory replenishment, supply chain management, payment processing, order fulfillment and more.”

Annual report 2025A · The company itself

“Avanzas verksamhet bedrivs digitalt, med krav på hög säkerhet, stabilitet och tillgänglighet.”

Annual report 2024A · The company itself

“För att skapa ännu bättre förutsättningar för en smidig och fortsatt stark tillväxtresa accelererar vi även arbetet med vår molnförflyttning. Det är vår övertygelse att framtiden ligger i molnet och att en förflyttning kommer att ge snabbare tillgång till ny teknik som vi vill komma åt och som kan bidra till exempelvis effektivare utveckling.”

Annual report 2024A · The company itself

“Vår övertygelse är att framtiden ligger i molnet, varför vi vill accelerera vår förflyttning dit. Molnresan är inkluderad i vårt övegripande kostnadsmål och vår årliga guidning.”

Annual report 2024A · The company itself

“Hög motståndskraft på plattformen och i våra tjänster säkerställs bland annat genom att vi har parallella, geografiskt separerade datacenter, kontinuerlig central övervakning samt regelbundet testar tjänsterna i enlighet med ett heltäckande testramverk.”

Annual report 2024A · The company itself

“Our IT systems and Technology are vulnerable to breakdown, interruption, cyber and other security attacks, system malfunction, unauthorized access, inadvertent exposure or disclosure of information, theft, and other events and, at times, requires the manual application of security upgrades or patches on each machine or device that utilizes the Technology. Third-party systems and solutions that we rely on are also vulnerable to the same risks and may contain defects in design or manufacture or other problems that could result in system disruption or compromise the information security of our own systems, products, and services.”

Annual report 2025A · The company itself

“The continuing evolution of technology we use, including cloud-based computing, open-source software, data hosting, AI, and reliance on third parties and Software as a Service (Saas) solutions, whom may also use open-source software, cloud-based computing, data hosting, or AI tools, create additional opportunities for the unintentional, intentional, unauthorized or unlawful disclosure, exposure, dissemination, loss, alteration, access or destruction of Protected Information stored or processed in our devices, systems, servers, infrastructure, and products (collectively, Technology), and those of our Saas providers and third party service providers.”

Annual report 2025A · The company itself

“We also face all of the same risks listed above and other heightened risks when acquiring a company, in particular if we need to transition or implement certain processes or controls with the acquired company.”

Annual report 2025A · The company itself

“We are also subject to similar risks associated with the continued support for Vantive’s information technology systems, through the transitional services period in the Vantive TSA, which could lead to breaches, disruption, interruptions and impact our financial condition or lead to reputational harm, litigation, and operational disruption.”

Annual report 2025A · The company itself

“We rely upon information technology systems (IT systems) and infrastructure, including services provided by our partners and third parties, to support our business, facilities, operations, product development, products, and services. We also routinely rely on technology systems and infrastructure in the collection, use, storage and transfer, disclosure, and other processing of voluminous amounts of protected information, including personal data, protected health information, and sensitive data (of patients, employees, customers, and third parties) as well as internal confidential information (collectively, Protected Information).”

Annual report 2025A · The company itself

“While we continue to invest in improvements to our IT systems, there is no assurance that our investments have prevented or will prevent future breakdowns, attacks or breaches in our Technology, or cyber incidents.”

Annual report 2025A · The company itself

“We utilize third-party vendors for certain aspects of our operations, and any material disruption in our relationships or their services may have an adverse impact on our business. We engage key third-party business partners to support various functions of our business, including delivery and installation, customer warranty, information technology, web hosting and cloud-based services, customer loyalty programs, promotional financing and customer loyalty credit cards, gift cards, technical support, transportation, insurance programs and human resource operations. A rising dependency on critical partners (e.g., software as a service (“SaaS”), advertising, shipping) may lead to limited leverage to manage cost escalation or contractual terms and could negatively impact our operations.”

Annual report 2026A · The company itself

“We rely heavily on our information technology systems for key business processes. Any failure or interruption in these systems could have a material adverse impact on our business. The effective and efficient operation of our business is dependent on our information technology systems and those of our information technology service providers. We rely heavily on these information technology systems to manage all key aspects of our business, including demand forecasting, purchasing, supply chain management, transaction processing, fulfillment of products and services (including, for example, our urgent response and care center services provided by Best Buy Health), staff planning and deployment, financial management, reporting and forecasting and safeguarding critical and sensitive information.”

Annual report 2026A · The company itself

“Such events may prevent our workforce and/or customers from reaching our stores and properties, disrupt segments of our supply chain and distribution network or impact critical third-party services. These disruptions may impact our ability to procure goods or services necessary for operating our business and may affect our information technology systems, limiting our ability to transact with customers and fulfill orders.”

Annual report 2026A · The company itself

“Technological dependencies remain significant, including areas such as data analytics, cybersecurity, and cloud infrastructure. Our investments in AI, automation, and AdTech - including our Playbook and AdVantage platforms - further highlight the strategic importance of innovation for maintaining competitive advantage and operational resilience.”

Annual report 2025A · The company itself

“Upstream, we continue to invest in best-in-class infrastructure, including cloud environments, content management systems, data pipelines, AI capabilities, and AdTech integrations that support real-time engagement across our digital sports media brands. These technologies underpin the hosting, personalization, and delivery of content to millions of users daily.”

Annual report 2025A · The company itself

“The Company’s ability to increase revenue, earnings and stockholder value over time is predicated on its ability to generate new business, including business in Aladdin and other technology products and services. New business efforts depend on BlackRock’s ability to achieve clients’ investment objectives, in a manner consistent with their risk preferences, to deliver excellent client service and to innovate in technology to serve clients’ evolving needs.”

Annual report 2025A · The company itself

“In so doing, it relies in part on certain third-party service providers, including for cloud hosting and technologies supporting cloud-based operations. For example, Aladdin’s data architecture depends on third-party providers of technology solutions, including the ability of such parties to scale and perform in response to Aladdin’s growth. In addition, the analytical capabilities of Aladdin depend on the ability of a number of third parties to provide data and other information as inputs into Aladdin’s analytical calculations.”

Annual report 2025A · The company itself

“BlackRock depends on a number of key third-party providers for various fund administration, accounting, custody, market and environmental, social and governance (“ESG”) data, market indices, insurance, technology and AI, cloud hosting and transfer agent roles and other distribution and operational needs. Further, BlackRock relies upon a relatively concentrated group of third-party index providers to deliver services that are integral to its clients’ investment decisions.”

Annual report 2025A · The company itself

“In addition, BlackRock has made minority investments in financial technology and digital distribution providers, data and whole portfolio capabilities including Viridium, Generation Life, Securitize, Upvest, Avaloq, Human Interest, Circle, Clarity AI, Envestnet, Acorns, Scalable Capital and iCapital.”

Annual report 2025A · The company itself

“Aladdin’s competitive position is based in part on its ability to combine risk analytics with portfolio management, trading and operations tools on a single platform. Increased competition from risk analytics and investment management technology providers, including from competitors with increasingly sophisticated and comprehensive product offerings, or a shift in client demand toward standalone or internally developed solutions, whether due to price competition, perceived market share, platform offerings or flexibility, or market-based or regulatory factors, may weaken Aladdin’s competitive position and may cause the Company’s revenue and earnings to decline.”

Annual report 2025A · The company itself

“BlackRock has a number of key strategic partnerships, including with Microsoft. For instance, the Aladdin infrastructure and environment for BlackRock and its external Aladdin clients are hosted on Microsoft Azure and Amazon Web Services.”

Annual report 2025A · The company itself

“BlackRock also offers technology and subscription services, including the investment and risk management technology platform, Aladdin®, Aladdin WealthTM, eFront®, Preqin, and Cachematrix®, as well as advisory services and solutions to a broad base of institutional and wealth management clients.”

Annual report 2025A · The company itself

“TECHNOLOGY SERVICES AND SUBSCRIPTION BlackRock offers investment management technology systems, risk analytics, private markets data subscriptions, investment accounting services and wealth management tools on a fee basis. Aladdin Enterprise is the Company's proprietary technology platform, providing an end-to-end, investment and risk management solution for both BlackRock and a growing number of institutional investors around the world.”

Annual report 2025A · The company itself

“BlackRock offers risk analytics via Aladdin Risk, as well as investment accounting capabilities. eFront is a leading end-to-end alternative investment management software and solutions provider to enable clients to manage portfolios across public and private asset classes on a single platform. eFront is offered to clients both as a standalone offering and as part of an integrated “Whole Portfolio” solution that provides transparency across clients’ public and private assets.”

Annual report 2025A · The company itself

“Through the Company's Cachematrix platform, BlackRock is also a leading provider of financial technology which simplifies the cash management process for banks and their corporate clients in a streamlined, open-architecture platform.”

Annual report 2025A · The company itself

“In March 2025, BlackRock completed the acquisition of 100% of the shares of Preqin Holding Limited ("Preqin"), a leading provider of private markets data, for £2.5 billion (or approximately $3.2 billion) in cash (the "Preqin Transaction"). At year-end, BlackRock technology services and subscription clients included asset managers, insurance companies, wealth managers, pension funds, official institutions, banks, asset servicers, corporations, law firms, consultants and other investors across North America, South America, Europe, the Middle East, Asia, Africa and Australia.”

Annual report 2025A · The company itself

“We rely on the proper function, availability and security of information technology systems to operate our business and a cyber-attack or other breach of these systems could have a material adverse effect on our business, financial condition or results of operations. We rely on information technology (IT) and operational technology (OT) systems, including technology from third party vendors, to manufacture and ship our products, as well as to process, transmit and store electronic information in our day-to-day operations.”

Annual report 2025A · The company itself

“Our information systems require an ongoing commitment of significant resources to maintain, protect and enhance existing systems and develop new systems to keep pace with continuing changes in information processing technology, evolving systems and regulatory standards, the increasing need to protect patient and customer information and changing customer patterns. This includes opportunities as well as risks associated with the integration of AI into our or our suppliers' or customers' operations. While AI presents significant opportunities for innovation and efficiency, it could introduce new risks in managing information systems and in the cybersecurity threat landscape.”

Annual report 2025A · The company itself

“Any slowdown or failure of our computer or communications systems could impact our ability to provide services to our clients and support our internal operations and could subject us to liability for losses suffered by our clients or their customers. Our services depend on our ability to store, retrieve, process, and manage significant databases, and to receive and process transactions and investor communications through a variety of electronic systems.”

Annual report 2026A · The company itself

“In addition, we may not be able to prevent cybersecurity attacks on our systems. Moreover, because we have outsourced our data center operations and use third-party cloud services providers for storage of certain data, the operation, performance and security functions of the data center and the cloud system involve factors beyond our control, and we cannot guarantee that our third-party providers will be able to provide their services at a satisfactory level.”

Annual report 2026A · The company itself

“If the operational systems and infrastructure that we depend on fail to keep pace with our growth, we may experience operating inefficiencies, client dissatisfaction and lost revenue opportunities. The growth of our business and expansion of our client base may place a strain on our management and operations.”

Annual report 2026A · The company itself

“We may be adversely impacted by a failure of third-party service providers to perform their functions. We rely on relationships with third parties, including our service providers and other vendors for certain functions.”

Annual report 2026A · The company itself

“Certain of our businesses rely on a single or a limited number of service providers or vendors. Changes in the business condition (financial or otherwise) of these service providers or vendors could impact their provision of services to us or cause them to be unable to provide services to us at all, which could have a material adverse effect on our business and financial results.”

Annual report 2026A · The company itself

“Technology We provide products and platforms to the financial services industry and have several information processing systems that serve as the core foundation of our technology platform. We are committed to maintaining high levels of quality service through our skilled technical employees and the use of our technology within an environment that seeks continual improvement. Our technology strategy is designed to provide high levels of availability, scalability, reliability, and flexibility, leveraging a hybrid model consisting of private and public cloud services as well as traditional data center services.”

Annual report 2026A · The company itself

“We may be adversely affected by any disruption in our respective information technology systems. Our operations are dependent upon our information technology systems, which encompass all of our major business functions.”

Annual report 2025A · The company itself

“We are currently implementing a new ERP system and there is no guarantee that such implementation will be successful or that we will not experience disruptions in connection with the new ERP system.”

Annual report 2025A · The company itself

“The cost and potential problems and interruptions associated with the implementation of these initiatives, including those associated with managing third-party service providers and employing new web-based tools and services, could disrupt or reduce the efficiency of our operations. In the event that we continue to grow, there can be no assurance that we will be able to keep up, expand or adapt our IT infrastructure to meet evolving demand on a timely basis and at a commercially reasonable cost, or at all.”

Annual report 2025A · The company itself

“For example, during 2025, we began the implementation of a new ERP system. The new ERP system is intended to transform certain areas of business such as manufacturing, supply chain, procurement, warehouse management, delivery, quote to cash, financial reporting, and analytics, and position us to better leverage automation and process efficiency and enable productivity enhancements.”

Annual report 2025A · The company itself

“Company risk factors We rely on technology to operate our business, with the majority of our operating systems developed internally and supplemented by third-party technology, which may subject us to cybersecurity events and disruptions. Our continued success depends on the effective operation and adaptation of these systems to meet the evolving needs of our customers and users.”

Annual report 2025A · The company itself

“Any limitation on the capacity of our third-party hosting services could impede our ability to onboard new customers or expand the usage of our existing customers, which could adversely affect our business, financial condition and results of operations.”

Annual report 2025A · The company itself

“In addition, any incident affecting our third-party hosting services’ infrastructure that may be caused by cyberattacks, natural disasters, fires, floods, severe storms, earthquakes, power loss, telecommunications failures, outbreaks of contagious diseases, terrorist or other attacks and other similar events beyond our control could negatively affect our cloud-based products and applications. A prolonged service disruption affecting our cloud-based solutions or our customers’ and other users’ access to our applications would negatively impact our ability to serve our customers and could damage our reputation with current and potential customers, expose us to liability, cause us to lose customers or otherwise harm our business.”

Annual report 2025A · The company itself

“In the event that our service agreements with our third-party hosting services are terminated, or there is a lapse of service, elimination of services or features that we utilize, interruption of internet service provider connectivity or damage to such facilities, we could experience interruptions in access to our platform as well as significant delays and additional expense in arranging or creating new facilities and services and/or re-architecting our cloud-based solutions for deployment on a different cloud infrastructure service provider, which could adversely affect our business, financial condition and results of operations.”

Annual report 2025A · The company itself

“•Any actual or perceived failure to comply with new or existing laws, regulations and other requirements relating to the privacy, security, processing and cross-border transfer of Personal Information (as defined below) could adversely affect our business, financial condition and results of operations. •We rely on third-party data center providers and any disruption in the operations of these third-party providers, limitations on capacity or interference with our use could adversely affect our business, financial condition and results of operations. •Doing business with the public sector and heavily-regulated entities subjects us to risks related to government procurement processes, regulations and contracting requirements. •Risks associated with our international operations could adversely impact our financial condition. •The effect of foreign exchange rate fluctuations may adversely impact our revenue, expenses, cash flows and financial condition.”

Annual report 2025A · The company itself

“We own and manage certain IT Systems but also rely on third parties for IT Systems and related products and services, including cloud computing. In addition, we and certain third-party providers collect, maintain and process data about our customers, employees, business partners and others, including information that relates to individuals and/or constitutes “personal data,” “personal information,” "personally identifiable information" or similar terms under applicable data privacy laws (collectively “Personal Information”), as well as proprietary data such as trade secrets (together with Personal Information, “Confidential Information”).”

Annual report 2025A · The company itself

“We rely on third-party data center providers and any disruption in the operations of these third-party providers, limitations on capacity or interference with our use could adversely affect our business, financial condition and results of operations. We outsource substantially all of the infrastructure relating to our cloud solutions to third-party hosting services. Customers of our cloud-based products need to be able to access our platform at any time, without interruption or degradation of performance, and we provide them with service-level commitments with respect to uptime.”

Annual report 2025A · The company itself

“For example, in January 2025, we experienced a multi-day system outage due to a technical issue experienced by FIS, a third-party service provider, which temporarily impacted certain services for some of our customers.”

Annual report 2025A · The company itself

“These relationships include, but are not limited to: Amazon Web Services, Inc. (“AWS”) for our cloud infrastructure, Total System Services LLC (“TSYS”) for consumer and commercial credit card processing services for our North American and U.K. portfolios and Fidelity Information Services (“FIS”) for certain of our banking systems. Certain of the acquired Discover businesses, including the Global Payment Network, are processed through a combination of data centers and the use of third-party vendors.”

Annual report 2025A · The company itself

“We are also heavily dependent on the security, capability, integrity and continuous availability of the technology systems and networks that we use to manage our internal financial and other systems, monitor risk and compliance with regulatory requirements, provide services to our customers, develop and offer new products and communicate with stakeholders.”

Annual report 2025A · The company itself

“Other than the ongoing integration of Discover, we have substantially migrated primarily all aspects of our core information technology infrastructure and systems and customer-facing applications to third-party cloud infrastructure platforms, principally AWS.”

Annual report 2025A · The company itself

“We rely on our and third-party service providers' information systems for a wide variety of critical operations, including to obtain, rapidly process, analyze, and manage data to: •facilitate the purchase and distribution of inventory items from numerous distribution centers; •receive, process, and ship orders on a timely basis; •manage accurate billing and collections for thousands of customers; •process payments to suppliers; •facilitate manufacturing and assembly of medical products; and •generate financial information.”

Annual report 2026A · The company itself

“The efficient operation of our business requires continued and substantial investments in information technology ("IT") and operational technology (“OT”, together, “Technology”) infrastructure systems. The failure to design, develop, maintain and implement Technology infrastructure systems in an effective and timely manner or to maintain these systems could divert management’s attention and resources. Our information systems may also become obsolete because of inadequate investments, requiring an unplanned transition to a new platform that could be time consuming, costly, and damaging to our competitive position and could require additional management attention.”

Annual report 2025A · The company itself

“If any of them were unable to provide this information for a sustained period of time, we may be unable to offer trading on our options and equities markets. •We are heavily dependent on technology for our markets, including third-party operation of production and disaster recovery data centers, as well as certain communications and networking products and services. If this technology is unavailable, as a result of a number of potential causes, including technical failure, failure to successfully complete technological migrations, natural disasters, extreme weather events, fraud or security attacks that we cannot predict or prevent, and cannot be replaced in a sufficiently short time period, we may be unable to operate our markets.”

Annual report 2025A · The company itself

“•We utilize third-party cloud service providers to maintain secondary offsite backups of our and our customers' data and to distribute real-time data, and we may utilize third-party cloud service providers in the future for additional services. We do not control the operations of third-party cloud service providers or their facilities and may be vulnerable to disruptions in our access to the platform as a result of a number of potential causes, including technical failure, natural disasters, extreme weather events, fraud, or security attacks that we cannot predict or prevent.”

Annual report 2025A · The company itself

“Extended outages or disruptions at these third parties (whether due to technology failures, data center infrastructure issues, such as the cooling system malfunctions that occurred at a third-party exchange in 2025, cyberattacks, or other causes) could impair our ability to calculate indices, provide market data products, or maintain trading operations.”

Annual report 2025A · The company itself

“Our business depends on the integrity and performance of our computer and communications systems. If our systems cannot expand to cope with increased demand or otherwise fail to perform, as a result of a number of potential causes, including technical failure, data center infrastructure issues such as cooling system malfunctions or hardware maintenance errors, natural disasters, power demands, extreme weather events, flooding, fraud or security attacks that we cannot predict or prevent, and cannot be replaced in a sufficiently short time period, we could experience unanticipated disruptions in service, slower response times, and delays in the introduction of new products and services. These consequences could result in trading outages, lower trading and clearing volumes, financial losses, decreased customer service and satisfaction, and regulatory sanctions and could have a material adverse effect on our ability to conduct our business.”

Annual report 2025A · The company itself

“Although we have a back-up plan with respect to our significant trading and key corporate systems, the back-up systems or disaster recovery plans may prove to be inadequate in the event of a systems failure or cybersecurity breach. Despite having disaster recovery facilities, there can be no guarantees that we will be able to open an efficient, transparent, and liquid marketplace, if we can open at all, nor can we guarantee that clearing organizations will allow clearing services for existing or new products following a systems failure or cybersecurity breach. Moreover, with extended trading hours, we must operate our systems longer and have fewer non-trading hours to address any potential concerns with the systems on which we rely.”

Annual report 2025A · The company itself

“We anticipate that we will need to continue to make significant investments in hardware, software and telecommunications infrastructure and power supply to accommodate the potential increases in traffic, technology migrations, and system updates. Additionally, disruptions to the supply chain may interfere with the ability of our employees, vendors, technology equipment suppliers, data and disaster recovery centers, and other service providers to provide the requested hardware, software, and telecommunications infrastructure. If we cannot migrate, update, or increase the capacity and capabilities of our systems to accommodate increased trading or clearing activity and to execute our business strategy, our ability to maintain or expand our businesses would be materially adversely affected.”

Annual report 2025A · The company itself

“Technology Cboe's Trading Technology The trading platform for our equities, options, and futures markets is built upon our Cboe Titanium technology platform. It is developed, owned, and operated in-house and is designed to optimize reliability, speed, scalability, and versatility.”

Annual report 2025A · The company itself

“Accordingly, we generate revenue from proprietary indices by distributing them for reference purposes, using them as the basis for proprietary products and licensing them for use for third-party indices and products. Table of Contents Cboe Data Vantage The Cboe Data Vantage business provides an offering of market data and information solutions products across multiple asset classes and geographic regions that are designed to suit our customers’ diverse needs. The Cboe Data Vantage business consists of three product groups: •Market Data and Access Services.”

Annual report 2025A · The company itself

“We are heavily dependent on information technology systems, including for point-of-sale and payment processing in our restaurants, digital ordering and order delivery, tracing ingredients back to suppliers and growers, digital Hazard Analysis and Critical Control Points monitoring, monitoring and managing our supply chain, our guest rewards program, payroll processing, sales forecasting, marketing initiatives, business analytics and various other processes and transactions. Our ability to effectively manage our business and coordinate the procurement, production, distribution, safety and sale of our products depends significantly on the consistent availability, reliability and security of these systems. Many of these critical systems are provided and managed by third parties, and we are reliant on these third-party providers to implement protective measures that ensure the security and availability of their systems.”

Annual report 2025A · The company itself

“Our existing restaurant management systems, back-office technology systems and processes, financial and management controls, information systems and staffing may not be adequate to support our growing business. To effectively manage a larger number of restaurants, we may need to upgrade and expand our infrastructure and information systems, automate more processes that currently are manual or require manual intervention and hire, train and retrain restaurant employees and corporate support staff, all of which may result in increased costs and at least temporary inefficiencies.”

Annual report 2025A · The company itself

“We rely extensively on information technology systems, including third-party systems, to process transactions, maintain information and manage our businesses. Disruptions in the availability of any internal or external information technology systems due to implementation of a new system or otherwise, or privacy incidents involving 11 information technology systems, could impact our ability to service our customers and adversely affect our revenue, consolidated results of operations and reputation and expose us to litigation risk.”

Annual report 2026A · The company itself

“In addition, we rely on software applications, enterprise cloud storage systems and cloud computing services provided by third-party vendors for certain information technology services, including our SAP enterprise system, payroll data, risk management data and lease data. If these third-party vendors, as well as our suppliers and other vendors, experience service interruptions or damage, security incidents, cyber-attacks, computer viruses, ransomware or other similar events or intrusions, our business and our consolidated results of operations may be adversely affected.”

Annual report 2026A · The company itself

“We rely heavily on communications and information systems to conduct our business. Any failure, interruption, or breach in the security of our communication and information system due to, among other things, cyberattacks or our failure to adequately maintain and manage our systems or implement system changes and upgrades, could result in failures or disruptions in our customer relationship management, general ledger, deposit, loan, and other systems.”

Annual report 2025A · The company itself

“We rely on third parties for the performance of a significant portion of our information technology. Third parties perform a significant portion of our information technology functions and the provision of information technology and business process services including, but not limited to, the operation of our data communications networks, hosted services, and a wide range of other support services. The success of our business depends in part on the continuing ability of third parties to perform these functions and services in a timely and satisfactory manner, which performance could be disrupted or otherwise adversely affected due to failures or other information security events originating at the third parties or at the third parties’ suppliers or vendors (so-called “fourth party risk”).”

Annual report 2025A · The company itself

“Our usage of mobile, web, and cloud technologies, such as those pursuant to our partnership with Google Cloud, may increase our risk of a cyber attack.”

Annual report 2025A · The company itself

“If we experience system failures or capacity constraints, our ability to conduct our operations and execute our business strategy could be materially harmed, and we could be subject to significant costs and liabilities. Our business is highly dependent on our ability to process, execute and monitor, in an efficient and uninterrupted manner, a large number of transactions, which occur at high volumes and frequencies across multiple systems and our ability to access key business data, financial information, order processing and invoicing.”

Annual report 2025A · The company itself

“On November 27, 2025, our largest data center owned and operated by CyrusOne experienced a critical cooling failure caused by human error. In response to the critical cooling failure, we made the decision to temporarily halt our markets. Our markets opened the following day on a delayed basis.”

Annual report 2025A · The company itself

“From time to time, we have experienced system errors and failures that have resulted in some customers being unable to connect to our electronic trading platforms and technology offerings, or that resulted in erroneous reporting. Such errors may result in CME Group being liable or in our voluntary assumption of financial liability.”

Annual report 2025A · The company itself

“Table of Contents Regulations relating to our trading and clearing systems generally require the handling of anticipated present and future peak trading volume. Heavy use of our systems during peak trading times or at times of unusual market volatility could exceed our available capacity based on estimated future trading volumes and cause them to operate slowly or even to fail for periods of time.”

Annual report 2025A · The company itself

“We are heavily reliant on the capacity, reliability and security of our information technology and communications and other business systems and software supporting our operations provided by third parties.”

Annual report 2025A · The company itself

“We depend on a number of suppliers, such as banking, clearing and settlement organizations, telephone companies, internet service providers, data processors, cloud hosting providers, data center providers, and software and hardware vendors, for elements of our trading, clearing, and other systems, as well as communications and networking equipment, computer hardware and software and related support and maintenance. Although we conduct due diligence and monitor important suppliers and service providers (including the resiliency of their operations), we cannot provide assurances of their performance and any interruption or cessation of their supplies or services could negatively impact our operations or those of our customers, as well as affect our reputation, financial or regulatory posture.”

Annual report 2025A · The company itself

“This includes, but is not limited to, the successful development and migration of our markets and supporting operational and business functions to the Google Cloud in the new private Google Cloud region.”

Annual report 2025A · The company itself

“We will need to continue to upgrade, expand and increase the capacity of our systems as our business grows and as we execute our business strategy. Although many of our systems are designed to accommodate additional volume and products and services without redesign or replacement, we will need to continue to make significant investments to accommodate the increases in volume of transactions and order transaction traffic and to provide processing services to third parties.”

Annual report 2025A · The company itself

“We rely on third parties in connection with many aspects of our business, including payment processors, financial institutions, and payment gateways to process transactions; cloud computing services and data centers that provide facilities, infrastructure, smart contract development, website functionality and access, components, and services, including databases and data center facilities and cloud computing; as well as third parties that provide outsourced customer service, compliance support and product development functions, which are critical to our operations.”

Annual report 2025A · The company itself

“Information technology system failures, network disruptions or cybersecurity breaches could adversely affect our business. We use and rely significantly on sophisticated information technology systems and infrastructure, including computer systems, hardware, software, technology and online sites and networks (collectively, “IT Systems”), in conducting our day-to-day operations, providing services to certain customers and protecting sensitive Company information.”

Annual report 2025A · The company itself

“The implementation of new IT Systems and information technology could adversely impact our operations by requiring substantial capital expenditures, diverting management’s attention, or causing delays or difficulties in transitioning to new IT Systems. In addition, our IT Systems implementations may not result in productivity improvements at the levels anticipated.”

Annual report 2025A · The company itself

“We manage our businesses utilizing multiple complex integrated software and hardware information technology operating systems that are regularly maintained and upgraded; an interruption or disruption to these systems could disrupt our business or force us to incur excessive costs. We utilize multiple complex integrated software and hardware operating systems, including enterprise resource planning and warehouse management systems, to support our business units and we have a continuous improvement strategy in place to keep our systems and overarching technology stable and in line with business needs and growth.”

Annual report 2025A · The company itself

“We are in the midst of a multiyear process of implementing new enterprise resource planning (ERP) systems at CooperVision and CooperSurgical. Implementing a new ERP system is not only costly but complex and difficult. Implementing a new ERP system can negatively affect not only financial accounting and reporting processes but also external commercial activities such as order receipt and product delivery.”

Annual report 2025A · The company itself

“Risks related to information technology and security We are dependent on the efficient and uninterrupted operation of interconnected computer systems, telecommunications, data centers and call centers, including technology and network systems managed by multiple third parties, which could result in our inability to prevent disruptions in our services. Our ability to provide reliable service to customers, cardholders and other network participants depends upon uninterrupted operation of our data centers and call centers as well as third-party labor and services providers.”

Annual report 2025A · The company itself

“We continually seek to modernize and evolve our technology solutions through our core information technology (IT) transformation initiatives. Our IT transformation initiatives are focused on three main pillars: (1) digital strategy; (2) core systems modernization; and (3) data.”

Annual report 2025A · The company itself

“Additionally, we are investing in modernizing our core transactional systems to make them more resilient, secure and scalable.”

Annual report 2025A · The company itself

“Additionally, as we develop new solutions and modernize legacy assets, we increasingly use cloud services. Through the use of cloud technology and microservices, we are able to modernize our platforms with no disruption to our customers.”

Annual report 2025A · The company itself

“We have spent more than 35 years building and acquiring databases of real estate information, which includes information on homes, schools, communities, commercial properties, leasing, sales, comparable sales, tenants, and demand statistics, as well as digital images, drone videos, and 3D tours, plot maps, and floor plans. This highly complex database is comprised of 8 hundreds of data fields, tracking such categories as location, site and zoning information, building characteristics, space and unit characteristics and availability, tax assessments, true ownership, sales and lease comparables, residential rents, vacancies and concessions, space requirements, retail locations, mortgage and deed information, for-sale and for-lease listings, fund data, income and expense histories, tenant names, tenant credit scores, view of company locations, lease expirations, contact information, historical trends, forecasts, and demographic information.”

Annual report 2025A · The company itself

“Proprietary Technology Our IT professionals develop and enhance services for customers, maintain existing services, integrate current offerings, secure our real estate data, and provide research automation tools to improve data quality and research efficiency. They are responsible for our online marketplace services, analytics, and infrastructure, and for implementing technologies designed to increase research capacity and support data quality. Unique AI-enabled data collection and quality control mechanisms have been developed, and our enterprise information management system integrates sales, research, customer support, and accounting information. This system supports commercial real estate research, contact management, workflow automation, and daily quality checks.”

Annual report 2025A · The company itself

“Because we make extensive use of third-party service providers, such as cloud and SaaS services, significant cyberattacks that disrupt or result in unauthorized access to third-party IT Systems could materially impact our operations and financial results.”

Annual report 2025A · The company itself

“AWS and ACC are distributed computing infrastructure platforms for business operations, commonly referred to as “cloud” computing services. We currently run a majority of our computing on AWS and ACC and have built our software and computer systems to use computing, storage capabilities, bandwidth, and other services provided by AWS and ACC. Given this, any significant disruption of or interference with AWS or ACC, whether temporary, regular, or prolonged, would negatively impact our operations and our business.”

Annual report 2025A · The company itself

“Availability and performance of our IT systems are vital to our business. Failure to successfully execute IT projects and have IT systems available to our business would adversely impact our operations. Table of Contents IT systems play a crucial role in conducting our business. These systems are utilized to, among other things, process a very high volume of transactions, conduct payment transactions, track and value our inventory and produce reports critical for making business decisions.”

Annual report 2025A · The company itself

“Consequently, we may be subject to service disruptions as well as failures to provide adequate support for reasons that are outside of our direct control. We have experienced, and expect that in the future we may experience interruptions, delays and outages in service and availability from time to time due to a variety of factors, including infrastructure changes, human or software errors, website hosting disruptions and capacity constraints.”

Annual report 2026A · The company itself

“Table of Contents The adverse effects of any service interruptions on our reputation, results of operations, and financial condition may be disproportionately heightened due to the nature of our business and the fact that our customers have a low tolerance for interruptions of any duration. Interruptions or failures in our service delivery could result in a cyberattack or other security threat to us or to one of our customers during such periods of interruption or failure.”

Annual report 2026A · The company itself

“We rely on external ecosystems, such as operating systems and platforms, to operate and make, in various layers of technology stacks, our products and services available to customers. If we are unable to adapt to product or policy changes in such ecosystems, or if we do not effectively operate with such ecosystems, demand for and availability of our products or services could decline.”

Annual report 2026A · The company itself

“•We rely on third-party data centers, such as Amazon Web Services, and our own colocation data centers to host and operate our Falcon platform, and any disruption of or interference with our use of these facilities may negatively affect our ability to maintain the performance and reliability of our Falcon platform, which could cause our business to suffer.”

Annual report 2026A · The company itself

“We currently host our Falcon platform and serve our customers using a mix of third-party data centers, primarily Amazon Web Services, Inc., or AWS, and our data centers, hosted in colocation facilities.”

Annual report 2026A · The company itself

“We rely heavily on information systems across our operations, including for e-commerce, marketing programs, employee engagement, management of our supply chain, the point-of-sale processing system in our restaurants, and various other processes and transactions. Our ability to effectively manage our business and coordinate the production, distribution, and sale of our products depends significantly on the reliability, security, and capacity of these systems.”

Annual report 2026A · The company itself

“Information Technology and Cybersecurity We believe our ability to leverage and use technology effectively is a competitive advantage and a key factor of our strategy. We have implemented technology-enabled business solutions to improve financial control, cost management, guest service, and employee effectiveness, as well as enable e-commerce.”

Annual report 2026A · The company itself

“Interruptions or performance problems associated with our products and platform capabilities may adversely affect our business, financial condition and results of operations. Our continued growth depends in part on the ability of our existing and potential customers to access our products and platform capabilities at any time and within an acceptable amount of time. We have experienced, and may in the future experience, disruptions, outages, and other performance problems due to a variety of factors, including infrastructure changes, introductions of new functionality, human or software errors, capacity constraints due to an overwhelming number of users accessing our products and platform capabilities simultaneously, denial of service attacks, or other security-related incidents.”

Annual report 2025A · The company itself

“We rely upon third-party providers of cloud-based infrastructure to host our products. Any disruption in the operations of these third-party providers, limitations on capacity or interference with our use could adversely affect our business, financial condition and results of operations.”

Annual report 2025A · The company itself

“If we fail to meet these contractual commitments, we could be obligated to provide credits for future service or face subscription termination with refunds of prepaid amounts, which would lower our revenue and harm our business, financial condition and results of operations. Our subscription agreements typically contain service-level commitments. If we are unable to meet the stated service-level commitments, including failure to meet the uptime and response time requirements under our customer subscription agreements, we may be contractually obligated to provide these customers with service credits which could significantly affect our revenue in the periods in which the failure occurs and the credits are applied.”

Annual report 2025A · The company itself

“We compete on the basis of a number of factors, including: •ability to provide unified, real-time observability of IT environments; •ability to operate in dynamic and elastic environments; •extensibility across the enterprise, including development, operations and business users; •propensity to enable collaboration between development, operations and business users; •ability to monitor any combination of public clouds, private clouds, on-premise and multi-cloud hybrids; •ability to provide advanced analytics and machine learning; •ease of deployment, implementation and use; •ability to operate across a broad range of geographies in compliance with local regulations; •breadth of offering and key technology integrations; •performance, security, scalability and reliability; •quality of service and customer satisfaction; •total cost of ownership; and •brand recognition and reputation.”

Annual report 2025A · The company itself

“Revenue Recognition The Company generates revenue from the sale of subscriptions to customers using its cloud-based platform. The terms of the Company’s subscription agreements are primarily monthly, annual or multi-year. The Company’s customers can enter into (1) a subscription agreement for a committed contractual amount of usage that is apportioned ratably on a monthly basis over the term of the subscription period, (2) a subscription agreement for a committed contractual amount of usage that is delivered as used, or (3) a monthly subscription based on usage.”

Annual report 2025A · The company itself

“Although we maintain disaster and business continuity plans designed to support critical operations and information systems, these events could disrupt our operations, impair employee availability, damage facilities, interrupt supply chains, or compromise the integrity of our IT systems, which could materially increase costs, reduce sales, or otherwise adversely affect our business continuity.”

Annual report 2026A · The company itself

“Cybersecurity threats continue to evolve in frequency and sophistication, and our reliance on interconnected systems, cloud-based platforms, and third-party service providers increases the risk that a security incident affecting us or these parties could disrupt our operations.”

Annual report 2026A · The company itself

“In addition, we are currently transitioning one of our international 3PLs to a new partner, which may create temporary operational risks.”

Annual report 2026A · The company itself

“We are investing in e-commerce platform upgrades, data analytics, consumer experience initiatives, and selective global retail store expansion.”

Annual report 2026A · The company itself

“Ökad digitalisering innebär att Dedicare behöver hantera risker som kommer med det digitala informationssamhället. Verksamheten är beroende av tillgång till väl anpassade digitala system, en välfungerande IT-miljö och infrastruktur. Till det tillkommer förmåga att hantera cyberhot, affärskontinuitet och informationssäkerhetsrisker.”

Annual report 2024A · The company itself

“We rely on information technology and telephone networks and systems, including the Internet, to process and transmit sensitive electronic information and to manage or support a variety of business processes and activities, including sales, billing, customer service, procurement and supply chain, manufacturing, and distribution. We use enterprise information technology systems to record, process, and summarize financial information and results of operations for internal reporting purposes and to comply with regulatory financial reporting, legal, and tax requirements.”

Annual report 2025A · The company itself

“We are heavily dependent on electrical power, internet and telecommunications infrastructure and our information systems and computer-based programs, including our well operations information, seismic data, electronic data processing and accounting data. If any of such infrastructure, systems or programs were to fail or become unavailable or compromised, or create erroneous information in our hardware or software network infrastructure, our ability to safely and effectively operate our business will be limited and any such consequence could have a material adverse effect on our business.”

Annual report 2025A · The company itself

“We depend on a variety of information technology systems, including systems owned and managed by third-party vendors, for the efficient functioning of our business, including, without limitation, transaction processing and the management of our employees, facilities, logistics, inventories, stores and customer-facing digital applications and operations.”

Annual report 2026A · The company itself

“In addition, costs and delays for any reason associated with the implementation of new or upgraded systems and technology, including our current migration of 15 Table of Contents applications to the cloud, modernization of legacy systems (including our Finance and Human Resources enterprise resource planning system and our inventory replenishment system) and our new point of sale system, or with maintenance or adequate support of existing systems also could disrupt or reduce the efficiency of our operations, fail to operate as designed, result in the potential loss or corruption of data or information or lost sales, cause business interruptions, inhibit our ability to innovate, and affect our ability to meet business and reporting requirements and adversely affect our profitability.”

Annual report 2026A · The company itself

“If our estimates and assumptions about our initiatives are incorrect, or if we miscalculate or misalign the resources or time we need to complete them or fail to execute on them effectively, our pursuit of these initiatives may increase our costs and reduce our margins and profitability. To be effective, our strategies have and will continue to require significant investment in cross-functional operations and management focus, along with supporting investments.”

Annual report 2026A · The company itself

“We rely extensively on our computer and technology systems and, in certain cases, those of third-party service providers to support nearly all key functions in our business, including managing inventory, operating our stores, processing credit card and customer transactions, managing our customer and associate relationships and summarizing results. Our ability to effectively manage our business and coordinate the distribution and sale of our merchandise depends significantly on the capabilities, confidentiality, integrity and availability of these systems and on our ability to successfully acquire and integrate upgraded or replacement systems as needed to support our business requirements and strategic initiatives.”

Annual report 2026A · The company itself

“To support the growth of our business, we are making substantial investments in our information technology systems, including updating or replacing legacy systems. Certain of our existing infrastructure is comprised of complex legacy technologies with limited flexibility, inconsistencies, manual workarounds and other inefficiencies.”

Annual report 2026A · The company itself

“A significant portion of our retail sales depends on the continuing operation of our information technology and communications systems, including DOM OS, our online and mobile ordering platforms and our credit card processing systems. The failure of these systems to operate effectively, stemming from maintenance problems, upgrading or transitioning to new platforms, a compromise in our security or other unanticipated problems has at times in the past and in the future could result in interruptions to or delays in our and our franchisees’ operations, and some of our systems are not fully redundant.”

Annual report 2025A · The company itself

“Our operations outside of the United States require significant operating expenses and management attention in order to oversee operations over broad geographic areas with varying regulations, cultural norms, and customs, in addition to placing strain on our finance, analytics, compliance, legal, engineering, and operations teams.”

Annual report 2025A · The company itself

“Our reliance on third-party vendors, contractors, and SaaS providers creates additional cybersecurity risks. Many of our critical business operations depend on external providers for hosting, cloud services, data analytics, customer support, and other key functions. If these third parties experience a cybersecurity incident, fail to implement adequate security measures, misconfigure their systems, or otherwise do not comply with our security, privacy, or contractual requirements, our systems and data could be exposed to unauthorized access, loss, or misuse, resulting in significant operational disruption, regulatory scrutiny, financial losses, or reputational harm.”

Annual report 2025A · The company itself

“We also have integrations with or otherwise utilize or rely on PayPal, Stripe, Olo, Google Maps, Amazon Web Services ("AWS"), and a variety of other third-party vendors.”

Annual report 2025A · The company itself

“Non-cancelable Purchase Commitments The Company has non-cancelable purchase commitments, which primarily relate to the purchase of technology platform infrastructure. These purchase commitments are not recorded as liabilities on the consolidated balance sheet as of December 31, 2025 as the Company has not yet received the related services.”

Annual report 2025A · The company itself

“several cloud-based hosting locations have been consolidated and optimised to utilise hyperscaler capabilities”

Annual report 2025A · The company itself

“We offer a unique combination of our own inputs – a highly skilled workforce with industry know-how, advanced IT systems, physical infrastructure with modern warehouses and terminals, and a global network across more than 90 countries – and third-party inputs such as strong carrier relationships.”

Annual report 2025A · The company itself

“A leading technology company within transport and logistics A cornerstone of DSV’s success is our consolidated IT infrastructure and systems, which enhance operational performance and consistently drive productivity across our business. Driven transparency, productivity and scalability through consolidation DSV processes millions of bookings every year, and our operations rely on the continuous development of our digital infrastructure and IT systems.”

Annual report 2025A · The company itself

“Via our inhouse AI Factory platform, we are exploring planning, forecasting and developing AI tools that will help optimise routes and processes to further leverage our strong network and infrastructure. Our AI Factory platform is highly flexible and can utilise and combine open-source, own-developed and external solutions from cloud-based hyperscale vendors to create the optimal setup and use of AI for our company. In DSV, we also utilise our strong change management capabilities and our flexibility to organise the company to implement and maximise the potential of new AI solutions.”

Annual report 2025A · The company itself

“We have experienced and will continue to experience system failures that interrupt the availability or reduce the speed or functionality of our platforms and services.”

Annual report 2025A · The company itself

“For example, we have developed proprietary computing infrastructure, entered into strategic partnerships with leading technology providers and established a private cloud environment.”

Annual report 2025A · The company itself

“The confidentiality, integrity and availability of our services and products depends on the continuing operation of our information technology and other enabling systems.”

Annual report 2025A · The company itself

“In 2024, the FCC reversed course yet again by adopting a Declaratory Ruling, Order, Report and Order, and Order on Reconsideration that reestablished the FCC’s authority over broadband internet access services under Title II of the Communications Act, mostly replicating its 2015 decision. On January 2, 2025, the United States Court of Appeals for the Sixth Circuit found that the FCC lacks the statutory authority to impose these rules and set aside the 2024 Order.”

Annual report 2025A · The company itself

“Table of Contents To the extent that network operators implement usage-based pricing, including, but not limited to, meaningful bandwidth caps, or otherwise try to monetize access to their networks by data providers, we could incur greater operating expenses and our Pay TV subscriber count could be negatively impacted. Furthermore, to the extent network operators create tiers of Internet access service and either charge us for or prohibit us from being available through these tiers, our Pay TV business could be negatively impacted.”

Annual report 2025A · The company itself

“The capacity, reliability and security of our information technology hardware and software infrastructure (including, but not limited to, our billing systems) and communications systems, or those of third parties that we use in our operations, are important to the operation of our business, which has in the past and would in the future suffer in the event of system failures or cyber-attacks. Likewise, our ability to expand and update our information technology infrastructure in response to, among other things, our growth and changing needs is important to the continued implementation of our new service offering initiatives. Our inability to expand or upgrade our technology infrastructure could have adverse consequences, which could include, among other things, the delayed implementation of new service offerings, service or billing interruptions and the diversion of management and developmental resources.”

Annual report 2025A · The company itself

“We rely on certain third parties for developing key components of our information technology and communications systems and ongoing service, all of which affect our Pay-TV, Wireless and Broadband and Satellite Services businesses. Some of our key systems and operations, including, but not limited to, those supplied by certain third-party providers, are not fully redundant and our disaster recovery planning cannot account for all eventualities. Interruption and/or failure of any of these systems could, among other things, disrupt our operations, interrupt our services, result in significant financial expenditures and damage our reputation, thus adversely impacting our ability to provide our services, retain our current subscribers and attract new Pay-TV, Wireless, and Broadband subscribers.”

Annual report 2025A · The company itself

“Historically, we have contracted with and rely on a single vendor or a limited number of vendors to provide certain key products or services to us such as information technology support, billing systems, security access devices and many components that we provide to subscribers in order to deliver services from our Pay-TV, Wireless or Broadband and Satellite Services businesses. We also rely on a limited number of vendors to supply our wireless devices and wireless network equipment used in connection with our Hybrid MNO. If these vendors are unable to meet our needs because, among other things, they fail to perform adequately, are no longer in business, are experiencing shortages or supply chain issues or discontinue a certain product or service we need, our business, financial condition and results of operations may be adversely affected.”

Annual report 2025A · The company itself

“Failure to adequately implement, consolidate, integrate, streamline, maintain and upgrade effective and efficient information systems, including those powered by or incorporating AI, with sufficiently advanced technological capabilities could result in investigations, audits, fines and penalties, competitive and cost disadvantages to us compared to our competitors, contractual damages, and diversion of management’s time, and could have an adverse effect on our business, financial condition and results of operations. Failure or disruption of our performance of, or our ability to perform, key business functions, including as a result of the unavailability of, or cyber-attack on, our information technology systems or those of third parties (including cloud service providers), could decrease response times, lower levels of service satisfaction and harm our reputation and brand.”

Annual report 2025A · The company itself

“We contract with various third parties to perform certain functions and services and provide us with certain information technology systems. Certain of these third parties provide us with significant portions of our business infrastructure and operating requirements. For example, a single vendor can provide to us a wide range of technology infrastructure services, such as end user (help desk and field support), data center, mainframe, payment card handling, storage and database services and multi-cloud management services, and we are subject to the risks of any operational failure, termination or other restraints in such an arrangement.”

Annual report 2025A · The company itself

“Our business depends significantly on effective information systems, and we have many different information systems for our various businesses, including those that we have acquired as a result of our merger and acquisition activities. Our information systems require an ongoing investment, commitment of significant resources to maintain, integrate, upgrade, enhance and expand existing systems, and development of new systems, including systems powered by or incorporating AI and machine learning (including generative AI), to keep pace with continuing changes in information processing technology, emerging cybersecurity risks, changing customer preferences, evolving industry and regulatory standards and legal requirements, including as a result of the ACA, the Health Plan Transparency Rule, the 2021 Appropriations Act and federal data interoperability regulations.”

Annual report 2025A · The company itself

“Risker relaterade till IT & ny teknik EG7 förlitar sig på effektiv och oavbruten drift av olika IT-system för att driva de olika operativa aktiviteterna. En betydande kollaps eller annan störning i IT-systemen skulle påverka förmågan att bedriva verksamhet med avseende på produktutveckling, genomföra vår effektiva försäljning eller fakturering och leverans av produkter och tjänster till kunder.”

Annual report 2024A · The company itself

“We rely extensively on information technology systems, including internally developed software, data hosting platforms, real-time data acquisition systems, third-party software, cloud services and other internally or externally hosted hardware and software platforms, to (i) estimate our oil and gas reserves, (ii) process and record financial and operating data, (iii) process and analyze all stages of our business operations, including exploration, drilling, completions, production, gathering and processing, transportation, pipelines and other related activities and (iv) communicate with, and make payments to, our employees and vendors, suppliers and other third parties. Further, our reliance on technology has increased due to the increased use of personal devices and remote communications.”

Annual report 2025A · The company itself

“Our interactions with, and reliance upon, third parties, including our independent agents, expose us to increased risk related to data security, service disruptions or effectiveness of our control system, particularly as we increase our reliance on cloud-based computing and software-as-a-service from third parties to operate our business.”

Annual report 2025A · The company itself

“Our business is highly dependent upon the effectiveness of our technology and information systems which support key functions of our core business operations, including processing applications and premium payments, providing customer support, performing actuarial and financial analysis, and maintaining key data. Additionally, the Exchange relies heavily on technology systems for processing claims.”

Annual report 2025A · The company itself

“Moreover, if any of these key vendors were to terminate our relationship or access to data, or fail, we could suffer losses while we seek to replace the services and information provided by the vendors. Further, our failure, or our software vendors’ failure, to adopt, anticipate or keep pace with the new technologies, such as artificial intelligence solutions, may harm our ability to compete with our peers, decrease the value of our assets and/or impact our future growth.”

Annual report 2025A · The company itself

“We rely on, or may rely on in the future, certain key software vendors, including artificial intelligence platforms, to support business practices critical to our operations, including the collection and understanding of rent, leads and leasing, and ancillary income, communication with our tenants, interaction and evaluation and/or qualification of our prospective tenants, and to provide us with data.”

Annual report 2025A · The company itself

“Table of Contents A prolonged or recurring outage and other business continuity disruptions could result in a reduced or total loss of service; the loss of clients and adverse impact on our reputation Our clients rely on us for the delivery of time-sensitive, accurate, complete and up-to-date data and applications. Our business is dependent on our ability to process substantial volumes of data and transactions rapidly and efficiently on our computer-based networks, database storage facilities, and other network infrastructure, which are located across multiple facilities globally.”

Annual report 2025A · The company itself

“As previously disclosed in our Annual Report on Form 10-K for the fiscal year ended August 31, 2024, we identified a material weakness in our internal control over financial reporting related to the design and operation of our information technology (“IT”) general controls that support our revenues, accounts receivable, and deferred revenues processes. We are still in the process of enhancing our internal controls related to the design and operation of our IT general controls that support our revenues, accounts receivable, and deferred revenues processes and expect to complete these remediation measures in fiscal 2026.”

Annual report 2025A · The company itself

“Our global technology infrastructure supports our operations and is designed to facilitate reliable and efficient processing and delivery of data and analytics to our clients. As part of our hybrid cloud strategy, we operate two fully redundant, physically separated data centers in the U.S. that provide client services, while also using market-leading cloud providers to run products and services to best benefit from the cloud's elasticity, resiliency, security, and regionalization. We currently use several cloud providers; however, one supplier provided the majority of our cloud computing support for fiscal 2025.”

Annual report 2025A · The company itself

“We also currently use multiple providers of cloud services; however, one supplier provides the majority of our cloud computing support. While we believe this provider to be reliable, we have limited control over its performance, and a disruption or loss of service from this provider could impair our system's operation and our ability to operate for a period of time.”

Annual report 2025A · The company itself

“Table of Contents Concentrations of Cloud Providers Our clients rely on us for the delivery of time-sensitive, up-to-date data and applications. Our business is dependent on our ability to process substantial volumes of data and transactions rapidly and efficiently. We currently use multiple providers of cloud services; however, one supplier provided the majority of our cloud computing support for fiscal 2025.”

Annual report 2025A · The company itself

“As of August 31, 2025 and 2024, we had total purchase obligations with suppliers and vendors of approximately $352 million and $383 million, respectively. Our total purchase obligations as of August 31, 2025 and 2024 primarily related to hosting services, acquisition of data and, to a lesser extent, third-party software providers.”

Annual report 2025A · The company itself

“Business Overview FactSet is a global financial digital platform and enterprise solutions provider with open and flexible technologies that deliver financial intelligence to investment professionals worldwide. Our platform delivers expansive data, sophisticated analytics, and flexible, artificial intelligence ("AI")-powered technologies used by global financial professionals to power their critical investment workflows. As of August 31, 2025, we had approximately 9,000 clients comprised of over 237,000 investment professionals, including institutional asset managers, bankers, wealth managers, asset owners, partners, hedge funds, corporate users, and private equity and venture capital professionals.”

Annual report 2025A · The company itself

“Our ability to provide reliable products and services to our customers depends on the efficient and uninterrupted operation of our and our external service providers’ data centers, information technology and communication systems. Any disruption of or interference with our use of data centers, information technology or communication systems of our external service providers would adversely affect our operations and our business.”

Annual report 2025A · The company itself

“Our purchase obligations primarily relate to a third-party data center hosting agreement, subscription arrangements, and service agreements.”

Annual report 2025A · The company itself

“Interruptions in the proper functioning of information systems or the inability to maintain or upgrade our information systems, or convert to alternate systems in a timely and efficient manner, could disrupt operations, cause unanticipated increases in costs and/or decreases in sales, and result in less efficient operations. The proper functioning of our information systems is critical to many aspects of our business and we could be adversely affected if we experience a disruption or data loss relating to our information systems and are unable to recover in a timely manner.”

Annual report 2025A · The company itself

“Organizational support personnel consists of: (1) Sales Support personnel (37% to 42% of category), which includes sourcing, purchasing, supply chain, product development, etc.; (2) Information Technology (IT) personnel (34% to 39% of category); and (3) Administrative Support personnel (22% to 27% of category), which includes human resources (HR), Fastenal School of Business (FSB), accounting and finance, senior management, etc.”

Annual report 2025A · The company itself

“Over time, we have generally experienced an increase in our SG&A expenses, including costs related to payroll, occupancy, freight, and IT, among others, as our net sales have grown.”

Annual report 2025A · The company itself

“We also depend on and interact with the technology and systems of third parties for a variety of reasons, including AI-enabled technologies, encryption and authentication technology, employee email, and other communication technologies, cloud services, delivery services, back-office support, and other functions. Certain third parties host, process, or have access to information we maintain about our company, customers, employees, and vendors and/or operate systems that are critical to our business operations and services. Like us, these third parties are subject to risks imposed by data breaches, cyberattacks, and other events or actions that could damage, disrupt, or close their networks or systems.”

Annual report 2026A · The company itself

“FedEx has engaged third-party service providers, vendors, and suppliers to perform certain key functions, including the provision of information technology infrastructure, application development, maintenance and support, and end-user support services. There can be no assurance that our third-party service providers, vendors, and suppliers will perform contractual service obligations or adhere to compliance requirements, and such service providers, vendors, and suppliers may suffer disruptions to their systems, labor groups, or supply chains that could adversely affect their services.”

Annual report 2026A · The company itself

“We continue to expand our e-commerce convenience network and explore innovative alternatives to help customers and businesses deliver. We have substantially advanced our major information technology transition from traditional mainframe computing to cloud-based systems, delivering significant benefits in flexibility, security, speed to market, and resiliency.”

Annual report 2026A · The company itself

“In managing our business, we rely on the integrity and security of, and consistent access to, data from these systems such as sales data, customer data, associate data, demand forecasting, merchandise ordering, inventory replenishment, supply chain management, payment processing and order fulfillment.”

Annual report 2025A · The company itself

“In addition, our information technology systems, infrastructure and personnel require substantial investments, such as replacing existing systems, some of which are older, legacy systems that are less flexible and efficient, with successor systems; maintaining or enhancing legacy systems that are not currently being replaced; or designing or cost-effectively acquiring and implementing new systems with new functionality. These efforts can result in significant potential risks, including failure of the systems to operate as designed, potential loss or corruption of data, cost overruns, or implementation delays or errors, and may result in operational challenges, security control failures, reputational harm, and increased costs that could have a material adverse effect on our business, financial condition and results of operations.”

Annual report 2025A · The company itself

“Operational failures and resulting interruptions in the availability of our products or services could harm our business and reputation. Our business depends heavily on the reliability of our systems.”

Annual report 2025A · The company itself

“Table of Contents Disruptions of operations of other participants in the global financial system could prevent us from delivering our products and services. The operations and systems of many participants in the global financial system are interconnected.”

Annual report 2025A · The company itself

“We may experience software defects, development delays or installation difficulties, which would harm our business and reputation and expose us to potential liability. Our services are based on sophisticated software and computer systems and we may encounter delays when developing new applications and services.”

Annual report 2025A · The company itself

“We rely on third parties to provide products and services and if we are unable to obtain such products or services in the future or if these third parties fail to perform these services adequately, our business may be materially and adversely affected. We rely on third parties we do not control to provide us with products and services, including payment card networks, acquiring processors, payment card issuers, financial institutions and the Automated Clearing House (“ACH”) network which transmit transaction data, process chargebacks and refunds, and perform clearing services in connection with our settlement activities.”

Annual report 2025A · The company itself

“Additionally, we enable ISVs to embed secure, omnichannel payment capabilities directly into their platforms, complemented by Clover hardware integration and value-added services. This integration enables ISVs to scale quickly and monetize transactions, while delivering secure and convenient payment experiences to their customers.”

Annual report 2025A · The company itself

“Revenue Recognition The Company generates revenue from the delivery of processing, service and product solutions. Revenue is measured based on consideration specified in a contract with a customer, and excludes any amounts collected on behalf of third parties.”

Annual report 2025A · The company itself

“Operational information systems, security systems, products, and services could be affected by cybersecurity incidents, ransomware attacks, and other disruptions and impact Ford, Ford Credit, their suppliers, and dealers. We rely on information technology networks and information systems, including in-vehicle systems and mobile devices, some of which are managed by suppliers, some of which are provided by third-party service providers, and some of which ultimately rely on other services provided to these third parties by unaffiliated service providers, to process, transmit, and store electronic information that is important to the operation of our business, our vehicles, and the services we offer.”

Annual report 2025A · The company itself

“Department of War (DoW), the intelligence community and federal civilian agencies have increasingly prioritized technology solutions to drive operational efficiencies, advance security and accelerate mission-decision making in real time. Expanded geopolitical and cyber threats and the demand for advanced warfighter connectivity have accelerated these trends, adding urgency to required technology investments. The result is an increase in federal information technology (IT) modernization and technology spending in recent years and a shift to the rapid development of solutions to meet the ever-changing information-systems and mission-support needs of these customers.”

Annual report 2025A · The company itself

“We make strategic investments in new and emerging technologies and partner with commercial companies to bring solutions to our customers that combine leading-edge technologies with an intimate knowledge of customers’ mission needs. The segment’s highly skilled workforce comprises approximately 40,000 employees, including technologists, engineers, mission experts and cleared personnel critical to solving the toughest security and technology challenges facing the United States and its allies.”

Annual report 2025A · The company itself

“We depend on information systems to process customer orders, manage inventory and accounts receivable collections, purchase products, manage accounts payable processes, ship products to customers on a timely basis, maintain cost effective operations, provide superior service to customers and consolidate financial results, among many other things.”

Annual report 2025A · The company itself

“We depend on relationships with third parties. Our systems or our third-party providers' systems may fail, or we may be unable to renew or renegotiate agreements with key suppliers, which could interrupt our service, cause us to lose business, increase our costs and expose us to liability.”

Annual report 2025A · The company itself

“We depend on the efficient and uninterrupted operation of our computer systems, software, data centers and telecommunications networks, as well as the systems and services of third parties. Not only could we suffer damage to our reputation in the event of a system outage or data loss, but we could also be liable to third parties.”

Annual report 2025A · The company itself

“We are dependent on the reliability, security and performance of our internally developed systems and operations. Any difficulties in maintaining these systems may result in damage to our brand, service interruptions, decreased customer service or increased expenditures.”

Annual report 2025A · The company itself

“Our primary email and productivity solutions products include: Microsoft 365 Email and Productivity Solutions. We offer fully-supported Microsoft 365 accounts that are easy to set up and use with our customers' domains. We offer Microsoft 365 through various plans, including email with calendar and contacts connected to a full suite of productivity tools, as well as file sharing and full desktop versions of Microsoft productivity applications, such as Outlook, Teams, Word, Excel and PowerPoint.”

Annual report 2025A · The company itself

“We continue to migrate many of our non-hosting products and internal systems to Amazon Web Services.”

Annual report 2025A · The company itself

“We have experienced, and may in the future experience, system failures and outages disrupting the operation of our websites or our products such as web-hosting and email, or the availability of our customer care operations.”

Annual report 2025A · The company itself

“We substantially rely upon AWS services to operate our integrated platform, and any disruption of or interference with our use of AWS would adversely affect our business, results of operations and financial condition. A substantial portion of our cloud infrastructure is provisioned through AWS, which hosts several of our products and our integrated platform.”

Annual report 2025A · The company itself

“For example, we have made, and may make in the future, significant investments in product development, corporate infrastructure, technology and development, software systems and data center resources, marketing and our GoDaddy Guides.”

Annual report 2025A · The company itself

“We rely on certain relationships with partners to offer and support key products and services, some of whom create integrations with our products, including Microsoft Corporation, a critical provider of email and related productivity tools through Microsoft 365, and others that create integrations with third-party applications and platforms used by our customers, such as advanced email security provided by ProofPoint, Inc., email backup and migration services provided by SkyKick and email archiving services provided by Barracuda. Our email offerings are a core component of many customers' productivity and daily operations and our ability to provide these services at scale depends, in significant part, on the continued availability, functionality and commercial terms of our partnerships, including with Microsoft and other email providers.”

Annual report 2025A · The company itself

“If a key partner, such as Microsoft, were to terminate its relationship with us, materially limit our or our customers' access to its products and services, fail to create operable integrations, fail to perform as expected, or if they change the features, availability or pricing of their applications or alter the terms governing our or our customers' use of their applications in an adverse manner, demand for their products, and as a result our products could decrease, we could be required to transition customers to alternative solutions, which may not be available on comparable terms, may be operationally complex and could result in service disruptions, increased costs or loss of customers, all of which would harm our business and operating results.”

Annual report 2025A · The company itself

“In addition, our partners may increase the fees they charge us or offer their services on terms that are less than favorable to us, including in connection with renewal negotiations. Such increased costs or less than favorable terms could result in increased costs to customers and potential loss of customers, which could have an adverse impact on our results of operations.”

Annual report 2025A · The company itself

“In addition, many of the software and other systems we currently use will need to be enhanced over time or replaced with equivalent commercial products or services, which may not be available on commercially reasonable terms or at all. Enhancing or replacing our systems, networks or infrastructure could entail considerable effort and expense.”

Annual report 2025A · The company itself

“Our primary uses of cash from operating activities have been for domain registration costs paid to registries, software licensing fees related to third-party productivity solutions, personnel costs, discretionary marketing and advertising costs, technology and development costs and interest payments.”

Annual report 2025A · The company itself

“Hosting and Security For more technically sophisticated WebPros and other customers, we provide high-performance, flexible hosting and security products that can be used with a variety of open source design tools, including WordPress. We design these solutions to be easy to use, effective, reliable, flexible and provide great value.”

Annual report 2025A · The company itself

“Our primary hosting and security products include: Shared Website Hosting. The term "shared hosting" refers to the housing of multiple websites on the same server. We operate, maintain and support shared website hosting in our owned and operated data centers and our leased co-located data 10 Table of Contents centers using either Linux or Windows operating systems.”

Annual report 2025A · The company itself

“Virtual Private Servers. Our broad range of virtual private server (VPS) offerings allows our customers to select the server configuration best suited for their applications, requirements and growth.”

Annual report 2025A · The company itself

“Digital Operational Resilience Act (DORA) applies from January 2025. DORA requires E.U. financial entities, such as GSBE, to have a comprehensive governance and control framework for the management of information and communications technology risk.”

Annual report 2025A · The company itself

“Operational A failure in our or third-party operational systems or human error, malfeasance or other misconduct, could impair our liquidity, disrupt our businesses, result in the disclosure of confidential information, damage our reputation and cause losses. Our businesses are highly dependent on our ability to process and monitor, on a daily basis, a very large number of transactions, many of which are highly complex and occur at high volumes and frequencies, across numerous and diverse markets in many currencies.”

Annual report 2025A · The company itself

“As the volume, speed, frequency and complexity of transactions, especially electronic transactions (as well as the requirements to report such transactions on a real-time basis to clients, regulators and exchanges) increase, developing and maintaining our operational systems and infrastructure has become more challenging, and the risk of systems or human error by us or our third-party service providers in connection with such transactions has increased, as have the potential consequences of errors due to the speed and volume of transactions involved and the potential difficulty associated with discovering errors quickly enough to limit the resulting consequences.”

Annual report 2025A · The company itself

“Our financial, accounting, data processing or other operational systems and facilities have in the past not operated properly in certain respects and may in the future not operate properly or become disabled as a result of events that are wholly or partially beyond our control, such as a spike in transaction volume or an operational disruption at a third-party service provider, adversely affecting our ability to process these transactions or provide these services.”

Annual report 2025A · The company itself

“Cloud technologies are also critical to the operation of our systems and platforms and our reliance on cloud technologies is growing. Service disruptions have resulted, and may result in the future, in delays in accessing, or the loss of, data that is important to our businesses and may hinder our clients’ access to our platforms. There have been a number of widely publicized cases of outages in connection with access to cloud computing providers, such as an incident in October 2025 that affected many businesses worldwide, including us.”

Annual report 2025A · The company itself

“A failure or disruption in our infrastructure, or in the operational systems or infrastructure of third parties, could impair our liquidity, disrupt our businesses, damage our reputation and cause losses. We face the risk of operational failure or significant operational delay, termination or capacity constraints of any of the clearing agents, exchanges, clearinghouses or other financial intermediaries we use to facilitate our securities and derivatives transactions, and as our interconnectivity with our clients grows, we increasingly face the risk of operational failure or significant operational delay with respect to our clients’ systems.”

Annual report 2025A · The company itself

“The interconnectivity of multiple financial institutions with agent banks, exchanges and clearinghouses, and the increased centrality of these entities, increases the risk that an operational failure at one institution or entity may cause an industry-wide operational failure that could materially impact our ability to conduct business. Interconnectivity of financial institutions with other companies through, among other things, application programming interfaces or APIs presents similar risks.”

Annual report 2025A · The company itself

“The increased use of mobile and cloud technologies heightens these and other operational risks, as do hybrid work arrangements. Certain aspects of the security of these technologies are unpredictable or beyond our control, and the failure by mobile technology and cloud service providers to adequately safeguard their systems and prevent cyber attacks could disrupt our operations and result in misappropriation, corruption, unavailability or loss of confidential and other information.”

Annual report 2025A · The company itself

“We must continuously update our systems to support our operations and growth and to respond to changes in regulations and markets, and invest heavily in systemic controls and training so that transactions do not violate applicable rules and regulations or, due to errors in processing such transactions, adversely affect markets, our clients and counterparties or us. Enhancements and updates to systems, as well as the requisite training, including in connection with the integration of new businesses, entail significant costs and create risks associated with implementing new systems and integrating them with existing ones.”

Annual report 2025A · The company itself

“Third-party risk, including vendor risk, is the risk of an adverse impact due to reliance on third parties performing services or activities on our behalf. These risks may include legal, regulatory, information security, cybersecurity, reputational, operational or other risks inherent in engaging a third party.”

Annual report 2025A · The company itself

“Gubra depends heavily on the efficient and uninterrupted operation of its IT systems, including its computer systems, software, data centres and servers”

Annual report 2025A · The company itself

“This to securely and reliably conducts its CRO services and for Biotech to utilise the streaMLine platform for identification of peptide-based drug discovery for partnering.”

Annual report 2025A · The company itself

“Risk factors explained Risk and dependence on IT-systems Risk description Gubra depends heavily on the efficient and uninterrupted operation of its IT systems, including its computer systems, software, data centres and servers.”

Annual report 2025A · The company itself

“Våre virksomheter er avhengige av sikre og effektive IT- og logistikksystemer.”

Annual report 2024A · The company itself

“Vi er også avhengig av teknologisk infrastruktur for digitale tjenester, samt forbrukernes tillit til at deres personvern blir ivaretatt i våre digitale plattformer.”

Annual report 2024A · The company itself

“Produktion, logistik och avbrott – HANZA bedriver avancerad tillverkning inom flera olika områden och produktionsanläggningar. Bolaget är beroende av att kunna flytta tillverkning mellan olika anläggningar i händelse av produktionsstopp, men också för att kunna leverera den helhetslösning till kund som är kärnan i HANZAs affärsmodell. För den händelse att bolagets processer och logistik inte skulle fungera enligt plan, skulle detta kunna innebära produktionsstörningar och ökade kostnader för bolaget, vilket negativt skulle kunna påverka bolagets finansiella ställning och resultat.”

Annual report 2024A · The company itself

“It-system – HANZAs verksamhet kräver fungerande it-system. It-relaterade störningar skulle kunna leda till produktionsstörningar, uteblivna intäkter eller kompensationskrav från kunder och/eller minskad effektivitet inom administration och försäljning. Därutöver skulle en implementering av HANZAs it-system i nya produktionsanläggningar kunna medföra störningar i integrationsprocessen, samt risk för it-relaterade störningar i övrigt, vilket skulle kunna påverka bolagets verksamhet, finansiella ställning och resultat negativt.”

Annual report 2024A · The company itself

“Strategic and Operational Risks Our businesses may suffer and we may incur substantial costs if we are unable to access our systems and safeguard the security of our data in the event of a disaster, cyber breach, other information security incident or technology failure. We use technology to process, store, retrieve, evaluate and analyze customer and company data and information.”

Annual report 2025A · The company itself

“Our increased use of open source software, cloud technology and software as a service can make it more difficult to identify and remedy such situations due to the disparate location of code utilized in our operations.”

Annual report 2025A · The company itself

“As EHR technologies have become widespread, the federal government has increased its focus on promoting patient access to health care data and interoperability. The 21st Century Cures Act and its implementing regulations prohibit information blocking by health care providers and certain other entities. Information blocking is defined as engaging in activities likely to interfere with the access, exchange or use of electronic health information, except as required by law or specified by HHS as a reasonable and necessary activity. Under a rule finalized by HHS in July 2024, a hospital found to have engaged in information blocking will not qualify as a “meaningful electronic health record user” under the Medicare Promoting Interoperability Program and as a result will lose 75% of the annual market basket increase it would otherwise receive, and MIPS-eligible clinicians, ACOs and ACO participants face similar disincentives.”

Annual report 2025A · The company itself

“Failure to effectively manage change associated with our technology, resiliency and other initiatives, including with respect to the implementation of a new EHR platform, may adversely affect our business, services and results of operations.”

Annual report 2025A · The company itself

“We are implementing a new EHR platform across our facilities, which is complex and time-intensive. Significant internal and external resources have been, and will continue to be, required for successful implementation, including resources to train colleagues. Complexity or delay in implementation may require substantial additional time and expense and divert management’s attention from other strategic priorities, which, in turn, could adversely affect our business, results of operations or financial condition.”

Annual report 2025A · The company itself

“As part of these efforts, we are implementing a new EHR platform across our facilities that is designed to help improve care coordination, enhance data integrity and interoperability, and drive operating efficiencies and cost savings.”

Annual report 2025A · The company itself

“Portions of our IT infrastructure have experienced, and may experience, interruptions, delays, or cessations of service or produce errors in connection with systems integration or migration work that takes place from time to time. As our IT environment continues to evolve, we have, at times, been unsuccessful, and may in the future be unsuccessful, in adopting or implementing new systems and transitioning data, which could cause business disruptions and be more expensive, time-consuming, disruptive, and resource intensive.”

Annual report 2025A · The company itself

“For example, we receive a broad range of information technology services, such as applications, including support, development and maintenance; infrastructure management and support, including for server storage and network devices; and end user support. Some of these services are provided to us through cloud providers, third party providers, and off-site facilities that may be vulnerable to damage or interruption, including performance problems from earthquakes, hurricanes, floods, fires, power loss, telecommunications failures, equipment failures, adverse events caused by operator error, cybersecurity attacks, pandemics, and similar events.”

Annual report 2025A · The company itself

“Hexagon är beroende av IT-system i sin verksamhet. Störningar eller fel i kritiska system kan ha en negativ inverkan på Hexagons verksamhet, inklusive inverkan på drift, Hexagons materiella och immateriella tillgångar och, i vissa fall, externa parters immateriella tillgångar och verksamhet.”

Annual report 2024A · The company itself

“Qognify har fler än 4 000 kunder världen över inom bank, myndigheter, logistik, tillverkning, detaljhandel, transport med flera. Dess lösningar kopplar ihop informationsflöden från verksamheten med videodata för att hantera säkerhets-, trygghets- och driftincidenter.”

Annual report 2024A · The company itself

“Our financial, accounting, data processing, backup, or other operational or security systems and infrastructure may also fail to operate properly or become disabled or damaged as a result of a number of factors, including events that are wholly or partially beyond our control, which could adversely affect our ability to process transactions, provide services, or otherwise conduct business. Such events may include: sudden increases in customer transaction volume; electrical, telecommunications, or other major service outages; disruptions in client access to our digital platforms and mobile applications; disease pandemics; cyber-attacks or other information or security breaches; software or hardware failures; and events arising from local or larger scale political or social matters, including wars and terrorist attacks.”

Annual report 2025A · The company itself

“Our computer and data management systems and network infrastructure, and those of third parties on which we are highly dependent, are subject to cybersecurity risks and could be susceptible to cyber-attacks or other information or security breaches. Our business relies on the secure processing, transmission, storage, and retrieval of confidential, proprietary, personal, and other information in our computer and data management systems and network infrastructure, and in the computer and data management systems and network infrastructure of third parties.”

Annual report 2025A · The company itself

“We rely on third parties to provide key components of our business infrastructure. We rely on third-party service providers, both domestically and offshore, to leverage subject matter expertise and industry best practice, provide enhanced products and services, and reduce costs.”

Annual report 2025A · The company itself

“The Company’s Business Could Be Impacted by Its Relationships with Critical Suppliers: IBM’s business employs a wide variety of components (hardware and software), supplies, services and raw materials from a substantial number of suppliers around the world. Certain of the company’s businesses rely on a single or a limited number of suppliers, including for server processor technology for certain semiconductors.”

Annual report 2025A · The company itself

“We proactively partner with a broad variety of companies including hyperscalers, service providers, global system integrators, and software and hardware vendors. We work alongside our partners to deliver end-to-end solutions that address our clients’ complex business challenges while accelerating growth.”

Annual report 2025A · The company itself

“Infrastructure: IBM is well positioned in the growing hybrid cloud infrastructure market, providing on-premises and cloud-based server and storage solutions. We gain advantage and differentiation through investments in higher-value capabilities, including security, scalability, and reliability, designed especially for mission-critical and AI workloads.”

Annual report 2025A · The company itself

“Our dependence on third-party suppliers could negatively affect our ability to sell certain products or deliver our cloud-based software solutions, which could negatively affect our operating results We rely on third-party suppliers to provide components and raw materials (including biological materials) for our manufactured products, manufacture some of the products that we sell, provide the cloud-based infrastructure through which we deliver our cloud-based software solutions, and perform certain services, including package-delivery services. Actions taken by third-party suppliers in operating their business, as well as any disruptions to their business operations (or their suppliers' business operations), could disrupt our supply chain or operations and materially negatively impact our ability to supply the market or deliver our cloud-based software solutions, substantially decrease sales, lead to higher costs, and damage our reputation with our customers.”

Annual report 2025A · The company itself

“We depend on the continuous and reliable operation and security of our information technology systems and our products and services that incorporate or rely on information technology, and any disruption or significant cybersecurity breach or other incident could adversely affect our business We rely on our information systems and third-party information systems to provide access to our web-based products and services, keep financial records, analyze results of operations, process orders and shipments, manage inventory, store confidential or proprietary information, and operate other critical functions. In addition, some of our products and services are cloud-based and connect to the “Internet of Things” (“IoT”), including information systems that collect and use data on behalf of customers (e.g., veterinary practice management systems and customer communication tools and services) and our connected IoT devices (e.g., IDEXX VetLab Stations and analyzers) that enable our integrated, comprehensive diagnostic solution for veterinary practices, and these products and services rely on third-party providers for cloud computing and storage.”

Annual report 2025A · The company itself

“From time to time, we are negatively impacted by supply chain issues, including: ▪suppliers extending lead times, experiencing capacity constraints, limiting or canceling supply, allocating supply to other customers including competitors, delaying or canceling deliveries or increasing prices (for example, we are currently being impacted by industry supply constraints for memory chips, substrates and foundry capacity); ▪supplier quality issues; ▪cybersecurity events, IP or other litigation, man-made or natural disasters, public health issues (including pandemics), operational failures or other events that disrupt suppliers; ▪long lead times to qualify alternate or additional suppliers, or the unavailability of qualified alternate suppliers; and ▪increased legislation, regulation or stakeholder expectations regarding sourcing, including with respect to national security, human rights and environmental impact concerns.”

Annual report 2025A · The company itself

“We have a highly complex global supply chain composed of thousands of suppliers. These suppliers provide direct materials for our production processes; supply tools, equipment and IP (via licenses) for our factories; deliver logistics and packaging services; and supply software, lab and office equipment, and other goods and services used in our business. We also rely on suppliers to provide certain components for our products and to manufacture and assemble and test some of our components and products.”

Annual report 2025A · The company itself

“We rely on our computer software to receive and properly process internal and external data. Any disruption in the proper functioning of our software due to, for example, erroneous or corrupted data, or cyber-attacks, may cause us to make erroneous trades or suspend our services and could cause us great financial harm.”

Annual report 2025A · The company itself

“We rely on certain third-party computer systems or third-party service providers, including but not limited to clearing systems, exchange systems, banking systems, digital asset service providers, Internet services, third-party identity verification services, co-location facilities, communications facilities and other facilities.”

Annual report 2025A · The company itself

“The proliferation of electronic exchanges and market centers has allowed us to integrate our software with an increasing number of trading venues, creating automatically functioning, computerized platforms that require minimal human intervention. Nearly five decades of developing our automated trading platforms and automating many middle- and back-office functions have allowed us to become one of the lowest cost providers of broker-dealer services and to significantly increase the volume of trades we handle.”

Annual report 2025A · The company itself

“Technology Overview Our proprietary technology is the key to our success. We believe that integrating our system with electronic exchanges and market centers worldwide results in transparency, liquidity and efficiencies of scale.”

Annual report 2025A · The company itself

“Table of Contents Research and Development One of our core strengths is our expertise in the rapid development and deployment of automated technology for the financial markets. Our core software technology is developed internally, and we do not generally rely on outside vendors for software development or maintenance. To achieve optimal performance from our systems and in response to changing market conditions, we continuously upgrade and improve our software.”

Annual report 2025A · The company itself

“Our internally-developed, fully integrated trading and risk management systems are unique and transact across all product classes. These systems have the flexibility to assimilate new trading venues and new product classes without compromising transaction speed or fault tolerance.”

Annual report 2025A · The company itself

“We achieve a rapid software development cycle by leveraging a highly integrated, object-oriented development environment. The software code is modular, with each object providing a specific function while being reusable across multiple applications. New software releases are tracked and tested with proprietary automated testing tools.”

Annual report 2025A · The company itself

“Our business depends on the integrity, reliability and security of our infrastructure which is highly dependent on our and our third-party providers’ computer and communication systems. Our customers rely on us for the delivery of time-sensitive, up-to-date and high-quality financial market data, analytics and related solutions.”

Annual report 2025A · The company itself

“We have experienced system failures in the past due to telecommunication failures and hardware and software malfunctions and defects, and could experience future system failures due to power or telecommunications failures, human error on our part or on the part of our vendors or participants, natural disasters, fire, sabotage, hardware or software malfunctions or defects, computer viruses, cyberattacks, intentional acts of vandalism or terrorism and similar events. For example, on June 3, 2024, a defect in a new software release by NYSE subsidiary Securities Industry Automation Corporation, or SIAC, caused incorrect calculation of industry-wide trade price bands in certain securities symbols, leading to trades occurring at incorrect prices that were required to be reversed, the triggering of trading pauses based on the incorrect trade price bands, and member claims paid by the NYSE exchanges under their rules (in combination with SIAC) related to the same.”

Annual report 2025A · The company itself

“Our regulated business operations generally require that our trade execution and communications systems be able to handle anticipated present and future peak trading volume. Heavy use of computer systems during peak trading times or at times of unusual market volatility could exceed our available capacity based on estimated future trading volumes and cause those systems to operate slowly or even to fail for periods of time.”

Annual report 2025A · The company itself

“Many of our clients also rely on third parties to provide them with systems necessary to access our trading platform. If these companies were to discontinue providing services to our clients for any reason, we may experience a loss of revenue associated with our clients’ inability to transact with our businesses.”

Annual report 2025A · The company itself

“We cannot assure you that we will successfully implement new technologies or adapt our proprietary technology, product offerings or services to our clients’ requirements or emerging industry standards in a timely and cost-effective manner. Any failure to remain abreast of industry standards in technology and to be responsive to client preferences could cause our market share to decline and negatively impact our results.”

Annual report 2025A · The company itself

“Operations We operate regionally diverse primary and backup data centers and maintain comprehensive business continuity and disaster recovery plans and facilities. These are designed to enable nearly continuous availability of our markets and other services in the event of a business disruption or disaster.”

Annual report 2025A · The company itself

“We depend on a number of suppliers, such as online service providers, hosting service and software providers, data processors, data centers, software and hardware vendors, banks, local and regional utility providers, and 35 telecommunications companies for elements of our trading, clearing, data services, mortgage technology applications and other systems. We rely on access to certain data used in our business through licenses with third parties, and we rely on a large international telecommunications company for the provision of hosting services.”

Annual report 2025A · The company itself

“•Data and Network Technology: We offer a multi-asset class connectivity solution called the ICE Global Network. The ICE Global Network offers highly secure, low latency connectivity solutions to reach over 150 trading venues and over 750 data sources.”

Annual report 2025A · The company itself

“Uppströms Nedströms Intressenter i värdekedjan Leverantörer Uppdragsgivare Medarbetare Kunder Samhället Aktieägare Aktiviteter Våra primära leverantörer förser oss med varor och tjänster inom följande kategorier: • IT, vilket omfattar bland annat infrastruktur, hårdvara, programvara och molntjänster. • Inhyrd personal och konsulttjänster • Fastighet • Bud- och posttjänster • Bank- och investeringstjänster • Juridiska tjänster Vi har kring 80 00 uppdragsgivare vilka utgörs av företag i olika storlekar och branscher.”

Annual report 2024A · The company itself

“Fokus på teknologi driver vår digitala omställning Genom förvärven av Ophelos och eCollect har vi accelererat vår digitala omställning, där AI-drivna och molnbaserade lösningar integreras i våra processer för att öka effektiviteten och förbättra kundupplevelsen.”

Annual report 2024A · The company itself

“We use public cloud providers, such as Amazon Web Services and Google Cloud Platform, for most of our systems, networks, and databases used to operate these online offerings.”

Annual report 2026A · The company itself

“Our reputation and ability to attract, retain and serve our customers is dependent upon the reliable performance of our products and our underlying technical infrastructure. As we continue to grow our online services, we become more dependent on the continuing operation and availability of our information technology and communications systems and those of our external service providers, including, for example, third-party or cloud computing services and large language models.”

Annual report 2026A · The company itself

“We rely on internal systems and external systems maintained by manufacturers, distributors, and other service providers to take and fulfill customer orders, handle customer service requests and host certain online activities.”

Annual report 2026A · The company itself

“We rely on our network infrastructure, data hosting, public cloud, and software-as-a-service providers, and internal technology systems for many of our development, marketing, operational, support, sales, accounting, and financial reporting activities.”

Annual report 2026A · The company itself

“Our operations are dependent upon our information systems that support our business processes, including marketing, leasing, vendor communications, finance, intercompany communications, our resident portals, and property management service platforms, which include certain automated processes that require access to telecommunications or the Internet, each of which is subject to system security risks. Certain critical components of our platform are dependent upon third-party service providers, and a significant portion of our business operations is conducted online or via mobile applications.”

Annual report 2025A · The company itself

“We support local market operations with national strategy, infrastructure, workflows enabled by technology, and standards to drive efficiency, consistency, and cost savings. We utilize our extensive scale and investments in technology to ensure the consistent quality of our resident experience and maximize cost efficiencies and purchasing power. On a national level we are also able to standardize resident leases, employ a consistent approach to resident screening and leasing operations, and utilize a tailored pricing tool that analyzes publicly available data to reflect local market conditions.”

Annual report 2025A · The company itself

“We have developed and employ a highly scalable, vertically integrated, and resident-centric property management service platform, referred to as “ProCare.” All of our property management functions have been internally managed since our founding in 2012, and we have implemented an extensive property management infrastructure, including a resident portal that is available both online and via a mobile app, smart home technology, a mobile app for residents to schedule and track maintenance requests, a technology suite to manage work orders and associate schedules, dedicated in-market associates, and local offices in each of our core markets.”

Annual report 2025A · The company itself

“Systems and Technology Effective systems and technology are essential components of our business. To ensure scalability for continued growth of our portfolio of single-family homes for lease and our third-party management platform, we have made significant investments in processes and systems across leasing and property management, construction management, property and 16 corporate accounting, asset management, and data analysis.”

Annual report 2025A · The company itself

“JPMorganChase has experienced and expects that it will continue to experience failures and disruptions in the stability of its operational systems, including: •degraded performance of data processing systems •data quality issues •disruptions of network connectivity •malfunctioning software •disruptions in its ability to access and use the operational systems of third parties, and •interruptions in service from third-party service providers. These incidents have resulted in various negative effects for customers, including: •the inability to access account information or transact through ATM, internet or mobile channels •the exfiltration of customer personal data •the recording of duplicative transactions, and •extended delays for call center services.”

Annual report 2025A · The company itself

“Furthermore, the widespread interconnectivity among financial institutions, clearing banks, CCPs, payments processors, financial technology companies, securities exchanges, clearing houses, financial messaging networks and other financial market infrastructures increases the risk that the disruption of an operational system involving one entity could cause industry-wide operational disruptions that could materially affect JPMorganChase’s ability to conduct business. In addition, the risks associated with the disruption of an operational system of a third-party could be exacerbated if the services provided by that system are widely used by market participants.”

Annual report 2025A · The company itself

“JPMorganChase must comply with enhanced regulatory and other standards when doing business with vendors and other service providers, including those relating to the outsourcing of functions as well as the performance of significant banking and other functions by subsidiaries. JPMorganChase’s failure to appropriately assess and manage these relationships, especially those involving significant banking functions, shared services or other critical activities, could materially and adversely affect JPMorganChase. Specifically, any such failure could result in: •potential harm to clients and customers, and any liability associated with that harm •lower revenues, and the opportunity cost from lost revenues •increased operational costs •the imposition of penalties, or •reputational harm.”

Annual report 2025A · The company itself

“Similar risks exist with respect to our third-party service providers, including cloud data service and other information technology service providers, suppliers, distributors, contractors, and other business partners, that we rely upon for certain areas of our business, including payroll processing, health and benefit plan administration, and certain finance and accounting functions. When risks such as these materialize, the need for us to coordinate with various third-party service providers, including with respect to timely notification and access to personnel and information concerning an incident, and for third-party service providers to coordinate amongst themselves might make it more challenging to resolve the related issues.”

Annual report 2025A · The company itself

“We, and our third-party service providers, use information technology to support our global business processes and activities, including supporting critical business operations; communicating with our suppliers, customers, and employees; maintaining financial information and effective accounting processes and financial and disclosure controls; engaging in mergers and acquisitions and other corporate transactions; conducting research and development activities; meeting regulatory, legal, and tax requirements; and executing various digital marketing and consumer promotion activities. Global shared service centers managed by third parties provide an increasing amount of services to conduct our business, including a number of accounting, internal control, information technology, human resources, and computing functions.”

Annual report 2025A · The company itself

“We centralize most of our accounting processes at two locations: India and Malaysia. If conditions change in those countries, it may adversely affect operations, including impairing our ability to pay our suppliers. Our results of operations, as well as our liquidity, may be adversely affected and possible delays may occur in reporting financial results.”

Annual report 2025A · The company itself

“We outsource significant portions of our information technology (“IT”) and other administrative functions. Since IT is critical to our operations, any failure of our IT providers to perform could impair our ability to operate effectively.”

Annual report 2025A · The company itself

“We rely on several centralized IT systems as well as cloud-based service providers to provide solutions and services, maintain financial records, retain sensitive data such as intellectual property, proprietary business information, and data related to customers, suppliers, and business partners, process orders, manage inventory, process shipments to customers and operate other critical functions. The ongoing maintenance and security of this information is important to the success of our business operations and our strategic goals.”

Annual report 2025A · The company itself

“We rely significantly on third parties whom we do not control for significant support and assistance with various aspects of our business, including for investment activities, accounting, record keeping, data processing, and other operations. These third parties include technology service providers, financial intermediaries and advisers, law firms, accountants, administrators, lenders, broker dealers, distribution agents, consultants, and other vendors. We generally have less control over the delivery of third-party services and, as a result, may face disruptions to our ability to operate our business as a result of interruptions of such services.”

Annual report 2025A · The company itself

“We rely heavily on the systems of third parties who provide technology services to us, including as part of our information technology infrastructure. Our data processing systems, communication lines and networks are often supported by third-party service providers, vendors, and intermediaries.”

Annual report 2025A · The company itself

“Our business depends on the effective execution of operational processes and the reliability of information technology systems, both those we operate and those provided by third parties. We rely on technology systems, including computer hardware, software systems, data processing systems, and other technology infrastructure that we own or that are provided and maintained by third party service providers.”

Annual report 2025A · The company itself

“THE MARKET FINANCE IN TRANSFORMATION The global market for finance and performance management solutions is undergoing a rapid transformation. Finance teams are managing larger and more complex data volumes, while their roles are expanding to include analysis, strategic decision support, and cross-functional collaboration. This shift creates strong demand for platforms that can scale, automate, and integrate seamlessly into existing technological ecosystems while delivering high-quality results through reliable, and transparent data.”

Annual report 2025A · The company itself

“HENRIK POULSEN Head of People & Culture CORPORATE MATTERS Risk Management Employees, Customers, and Governance Management 34 36 39 40 41 Board of Directors Shareholder information RISK MANAGEMENT c v DATA RISK Annual Cycle MANAGEMENT In 2025, Konsolidator saw an increase in companies seeking more reliable data. The greater volume of data increases the workload for data risk management at Konsolidator.”

Annual report 2025A · The company itself

“Built on Microsoft Fabric®, the solution serves as a financial data hub, connecting ERP systems, Konsolidator’s consolidation engine, and reporting tools. It enables customers to structure and store detailed financial data to support both operational control and management reporting, without moving transactional data into Konsolidator or compromising the integrity of the consolidation platform.”

Annual report 2025A · The company itself

“Konsolidator stores its own data and all our customers’ data in Microsoft Azure cloud.”

Annual report 2025A · The company itself

“Konsolidator Iberia works closely within the Microsoft ecosystem and collaborates with partners that already have strong relationships with mid-market customers.”

Annual report 2025A · The company itself

“The Company’s operations rely on the continued performance and security of its information technology systems. System failures, cybersecurity incidents, disruptions, or other issues affecting information technology systems could impair data processing, service delivery, billing, and customer communications.”

Annual report 2025A · The company itself

“The Company also relies on third parties for critical services, including transportation, supplies, and data processing and expects them to comply with applicable laws and regulations, including environmental, health and safety, and privacy and data security laws. Failures by these providers, whether operational, legal, or cybersecurity-related, and issues affecting their information technology systems, could disrupt services, compromise personal or other confidential information, expose the Company to liability and could materially impact its business, even if the Company is not responsible for the underlying cause of any such failure or issue.”

Annual report 2025A · The company itself

“System interruption and the lack of integration and redundancy in these systems and infrastructure may have an adverse impact on our business, financial condition and results of operations. System interruption and the lack of integration and redundancy in the information systems and infrastructure, both of our own ticketing systems and other computer systems and of affiliate and third-party software, computer networks and other communications systems service providers on which we rely, may adversely affect our ability to operate websites, process and fulfill transactions, respond to customer inquiries and generally maintain cost-efficient operations.”

Annual report 2025A · The company itself

“Luotean toiminta ja sen tarjoamat palvelut ovat laajasti riippuvaisia tietoverkoista ja digitaalisista ratkaisuista, ja niiden häiriöt ja niihin kohdistuvat loukkaukset tai hyökkäykset sekä mahdollinen epäonnistuminen tietojärjestelmien kehityshankkeissa sekä riittävien tietojenkäsittelysopimusten puute voivat vaikuttaa haitallisesti Luotean liiketoimintaan ja taloudelliseen asemaan sekä aiheuttaa mainehaittaa.”

Annual report 2025A · The company itself

“• Osittaisjakautumisen myötä tieto- ja viestintäjärjestelmiin ja niiden käyttöönottoon liittyvät häiriöt, viivästykset ja toiminnalliset haasteet voivat vaikuttaa Luotean toimintaan ja asiakaspalveluun. • Liiketoimintakriittisten järjestelmien uusimiset voivat aiheuttaa häiriöitä palvelutuotannossa. • Kyberrikollisuus voi vaarantaa yhtiön tietoturvan ja tietosuojan sekä häiritä liiketoiminnan jatkuvuutta esimerkiksi tietomurtojen, haittaohjelmien tai palvelunestohyökkäysten seurauksena. • Järjestelmäympäristön kehittäminen ja ICT-ympäristön käyttövarmuuden turvaaminen mm. kartoittamalla toiminnalle kriittiset järjestelmät ja määrittelemällä ja tarkentamalla vastuita järjestelmätoimittajien ja Luotean välillä. • Uusien järjestelmien ja niihin liittyvien toimintamallien käyttöönottojen perusteellinen suunnittelu. • Tietoturvaa ja tietosuojaa koskevat ohjeet ja henkilöstön kouluttaminen.”

Annual report 2025A · The company itself

“The Company, as well as third parties with which the Company does business, has expanded the use of cloud service providers, which could experience system breakdowns or failures, outages, downtime, cyber attacks, negative changes to financial condition, bankruptcy, or other adverse conditions, which could have a material adverse effect on the Company’s business and reputation.”

Annual report 2025A · The company itself

“Any disruption in such services provided by these third parties or any failure of these third parties to handle current or higher volumes of use could adversely affect the Company’s ability to deliver products and services to clients and otherwise to conduct business.”

Annual report 2025A · The company itself

“Additionally, the Company is exposed to the risk that a service disruption at a common service provider to the Company’s third-party service providers could impede their ability to provide services to the Company. Notwithstanding any attempts to diversify its reliance on third parties, the Company may not be able to effectively mitigate operational risks relating to its vendors’ use of common service providers.”

Annual report 2025A · The company itself

“M&T relies on other companies to provide key components of the Company’s business infrastructure. Third parties provide key components of the Company’s business infrastructure such as banking services, processing, and Internet connections and network access.”

Annual report 2025A · The company itself

“Our operations rely on the secure transmission, storage and other processing of confidential, proprietary, sensitive and personal information and technology in our computer systems and networks, as well as the systems of our third-party providers. Our customers and other parties in the payments value chain, as well as account holders, rely on our digital technologies, computer systems, software and networks to conduct their operations.”

Annual report 2025A · The company itself

“Service disruptions that cause us to be unable to process transactions or service our customers could reduce our operational resilience and materially affect our overall business and results of operations. Our transaction switching systems and other offerings may experience interruptions as a result of technology malfunctions, network degradation, updates and migrations to new technology and platforms, supply-chain attacks, fire, floods, earthquakes, weather events, power outages, telecommunications disruptions, terrorism, workplace violence, accidents or other catastrophic events (including those related to climate change).”

Annual report 2025A · The company itself

“Additionally, we rely on third-party service providers for the timely transmission of information across our global data network. If one of our service providers fails to provide the communications capacity or services we require, as a result of natural disasters, operational disruptions, cybersecurity-related disruptions or failures, terrorism, hacking or any other reason, the failure could interrupt our services.”

Annual report 2025A · The company itself

“Som en följd av att allt fler interaktioner, flöden och processer digitaliseras och automatiseras ökar också beroendet av system, vilket i sin tur ökar komplexiteten i IT-miljöer. • Störningar eller driftstopp i IT-miljön påverkar verksamheten negativt. Särskilt försäljningsrelaterade system samt system för order- och lagerhantering är kritiska, då avbrott skulle påverka leveranserna till våra kunder och därmed vår försäljning negativt.”

Annual report 2024A · The company itself

“A substantial portion of our technical infrastructure is provided by third parties. Any disruption or failure in the services we receive from these providers could harm our ability to handle existing or increased traffic and could significantly harm our business.”

Annual report 2025A · The company itself

“We are vulnerable to system failures and data loss risks, which could harm our business. We rely on our technology infrastructure to interact with suppliers, sell our products and services, support our customers, fulfill orders, and bill, collect, and make payments. Our systems are vulnerable to damage or interruption from natural disasters, power loss, telecommunication failures, malicious employees or employee negligence, computer viruses, and other events.”

Annual report 2025A · The company itself

“We have also been implementing our Blue Ocean program to globalize our business processes and information technology systems that includes the implementation of a Company-wide enterprise resource planning system. This has been proceeding on a staggered basis over a multi-year period. We estimate that we have more than 95% of our users on the program and will continue to implement additional locations and functionality over the coming years.”

Annual report 2025A · The company itself

“We also rely extensively on our information and other systems and those of third parties to process transactions, maintain and communicate information, and manage our businesses, including at our properties and on our website and digital platforms. Disruptions in these systems, through cyber-attacks or otherwise, have in the past and can in the future be expected to impact our ability to service our customers and adversely affect our business, financial condition, and results of operations.”

Annual report 2025A · The company itself

“Our use of third-party technology and business service providers may expose us to cybersecurity and privacy breaches.”

Annual report 2025A · The company itself

“We use information technology and third-party service providers to support our global business processes and activities. Global shared service centers managed by third parties provide a number of services important to conducting our business, including accounting, internal control, human resources and computing functions.”

Annual report 2025A · The company itself

“For example, DORA requires EU financial institutions to have a comprehensive governance and control framework of the management of ICT risks, including risks relating to third-party providers of technology and data such as MA.”

Annual report 2025A · The company itself

“The Company may be exposed to additional threats as it migrates its data from legacy systems to cloud-based solutions, and increased dependence on third-parties to store cloud-based data subjects the Company to further cyber risks.”

Annual report 2025A · The company itself

“The Company also relies on third-party providers, including, increasingly, cloud-based service providers, to provide certain essential services. While the Company believes that such providers are generally reliable, the Company has limited control over the performance of such providers.”

Annual report 2025A · The company itself

“Moody’s relies on Third-Party Technology in connection with its product development and offerings and operations.”

Annual report 2025A · The company itself

“The Company depends on the ability of Third-Party Technology providers to deliver and support reliable products, provide sufficient cloud computing capacity to meet demand, enhance their current products, develop new products on a timely and cost-effective basis, provide data necessary to develop and maintain its products and respond to emerging industry standards and other technological changes.”

Annual report 2025A · The company itself

“Growth in global revenue reflected increases in both MA and MIS, both in the U.S. and internationally.”

Annual report 2025A · The company itself

“Purchase Obligations Purchase obligations generally include multi-year agreements with vendors to purchase goods or services and mainly include data center/cloud hosting fees and fees for information technology licensing and maintenance. As of December 31, 2025, these purchase obligations totaled approximately $650 million, of which approximately 60% is expected to be paid in the next twelve months and another approximate 40% expected to be paid over the next two subsequent years, with the remainder to be paid thereafter.”

Annual report 2025A · The company itself

“The trend toward direct access to automated, electronic markets, and the move to more automated trading platforms has resulted in the use of increasingly complex technology that relies on the continued effectiveness of the programming code and integrity of the data to process the trades. We rely on the ability of our employees, our consultants, our internal systems and systems at technology centers maintained by unaffiliated third parties to operate our different businesses and process a high volume of transactions. Unusually high trading volumes or site usage could cause our systems to operate at an unacceptably slow speed or even fail. Disruptions to, destruction of, instability of or other failure to effectively maintain our IT systems or external technology that allows our clients and customers to use our products and services (including our self-directed brokerage platform and mobile services) could harm our business and our reputation.”

Annual report 2025A · The company itself

“In addition, the interconnectivity of multiple financial institutions with agent banks, exchanges and clearinghouses, and the increased importance of these entities, increases the risk that an operational failure at one institution or entity may cause an industrywide operational failure that could materially impact our ability to conduct business.”

Annual report 2025A · The company itself

“Furthermore, the concentration of Firm and personal information held by a small number of third parties increases the risk that a breach or disruption at a key third party may cause an industrywide event that could significantly increase the cost and risk of conducting business.”

Annual report 2025A · The company itself

“Technology Risks Any failures, disruptions, instability or vulnerabilities in our information technology architecture, platforms, vendors and service providers, production and delivery systems, software, code, networks, the internet or other systems may disrupt our operations, 18 Table of Contents cause our products or services to be unavailable or fail and impose delays or additional costs, or impose conditions or restrictions on our products or services and have a material adverse effect on our business, financial condition or results of operations.”

Annual report 2025A · The company itself

“This “technical debt” can increase the risk of outages, disruptions, performance degradation, defects, and cybersecurity incidents.”

Annual report 2025A · The company itself

“We rely on open source code to develop software and to incorporate it in our products and internal systems.”

Annual report 2025A · The company itself

“Business Overview Our research-based data, analytics and indexes, supported by advanced technology, set standards for global investors and help our clients understand risks and opportunities, make better investment decisions and unlock innovation.”

Annual report 2025A · The company itself

“We are developing advanced technology to drive efficiency, accelerate innovation and enhance client experience. We are prioritizing open, scalable distribution that allows clients to access and integrate MSCI content and analytical tools into their own platforms and workflows, including through APIs, data vendors and third-party distribution partners, as well as cloud-based tools. •Execute strategic partnerships and acquisitions with complementary data, content and technology companies.”

Annual report 2025A · The company itself

“•Operating on cloud platforms, including our cloud-native platforms such as MSCI ONE, and leveraging major cloud providers to reduce data center risks, scale compute and storage, and improve clients’ ability to access and use MSCI content in their investment workflows.”

Annual report 2025A · The company itself

“Risktyp Beskrivning Hantering S P IT-funktionalitet Störningar i vårt IT-systems funktioner, som avbrott, eller att IT-systemen inte uppfyller relevanta integrationskrav från kunder, kan ha en väsentlig negativ påverkan på verksamheten. För att möta krav på tillgänglighet och funktionalitet från kunder, såväl som från den egna organisationen, övervakas och uppgraderas våra IT-system ständigt, dels internt, dels genom samarbete med externa specialister.”

Annual report 2024A · The company itself

“Additionally, we use third-party service providers to provide some services to us that involve the storage or transmission of data, such as SaaS, cloud computing, and internet infrastructure and bandwidth, and they face various 24 cybersecurity threats and also may suffer cybersecurity incidents or other security breaches. Our ability to monitor these third parties’ information security practices is limited, and these third parties may not have adequate information security measures in place. In addition, supply-chain attacks have increased in frequency and severity, and third parties’ infrastructure in our supply chain or our third-party partners’ supply chains may become compromised.”

Annual report 2026A · The company itself

“Additionally, our operations and select cloud services rely on third-party cloud providers, and interruptions due to technical failures such as hardware or software issues or connectivity problems, security incidents, compliance changes, operational challenges and natural disasters could reduce our revenue due to the cloud services’ metered billing. Moreover, our concentration on a limited number of key cloud infrastructure providers carries heightened systemic risks, as a significant disruption to any of these providers could simultaneously impact multiple aspects of our operations and service delivery.”

Annual report 2026A · The company itself

“To the extent Internet Service Providers (“ISPs”) do not interconnect with our CDN or charge us to access their networks, or if we experience difficulties in our CDN’s operation, our ability to efficiently and effectively deliver our streaming content to our members could be adversely impacted and our business and results of operations could be adversely affected.”

Annual report 2025A · The company itself

“As we scale our streaming service and introduce new features such as our ad-supported subscription plan and live programming, we are developing technology and utilizing third-party “cloud” computing, technology and other services.”

Annual report 2025A · The company itself

“We rely upon Amazon Web Services to operate certain aspects of our service and any disruption of or interference with our use of the Amazon Web Services operation would impact our operations and our business would be adversely impacted.”

Annual report 2025A · The company itself

“Currently, we run the vast majority of our computing on AWS. Given this, along with the fact that we cannot easily switch our AWS operations to another cloud provider, any commercial disputes related to, disruption of or interference with our use of AWS would impact our operations and our business would be adversely impacted.”

Annual report 2025A · The company itself

“The Company relies on Amazon Web Services to supply cloud-based services used in many of the Company’s business activities and Google to provide workspace and other enterprise services.”

Annual report 2026A · The company itself

“Given our position as a semiconductor design company handling sensitive intellectual property, information security is critical to our business conduct. Our Information Security Policy, ISMS Secure Development Policy, and Quality Policy protect confidential information and technical data exchanged with manufacturing partners and customers.”

Annual report 2024A · The company itself

“The current financial implications include our ongoing security infrastructure investment, representing approximately 20% of our IT budget.”

Annual report 2024A · The company itself

“En av utmaningarna vi står inför är den ökade belastningen på nätverken. Redan nu skickas stora mängder ostrukturerad data till molnlösningar utan en tydlig plan för hur informationen ska användas. Detta kräver mycket energi och bidrar till betydande koldioxidutsläpp.”

Annual report 2024A · The company itself

“LEVERANTÖRER Under många år har Novoteks viktigaste leverantör av produkter varit General Electric (GE). Under 2022 utannonserades en splittning av GE i tre olika företag. Alla delar av GE Digital kommer att bli en del av GE Vernova, i vilken bland annat alla energibolag av det tidigare GE kommer att ingå.”

Annual report 2024A · The company itself

“Emerson Machine Automation Solutions som vi samarbetar med har under 2022 flyttats till Emersons division för processutrustning.”

Annual report 2024A · The company itself

“Under många år har Novotek även en relation till det globala CAD/ PLM företaget PTC som även gjort sig stora inom IoT platformar och kommunikationsmjukvaror.”

Annual report 2024A · The company itself

“Enligt företagets kvalitetspolicy skall Novotek tillhandahålla tekniska lösningar, tjänster och produkter inom områdena industriell IT och automation som uppfyller våra kunders krav och förväntningar . Våra leveranser skall förknippas med god kvalitet och stimulera till återköp .”

Annual report 2024A · The company itself

“As such, we must continuously modify and enhance our platforms to adapt to changes in, or to be integrated or otherwise compatible with, hardware, software, networking, browser, and database technologies. In the future, one or more companies may choose not to support the operation of their hardware, software, or infrastructure, or our platforms may not support the capabilities needed to operate with such hardware, software, or infrastructure. In addition, to the extent that a third party were to develop software or services that compete with ours, that provider may choose not to support one or more of our platforms.”

Annual report 2025A · The company itself

“Our platforms and services operate in conjunction with, and we are dependent upon, third-party products and components across a broad ecosystem, including our customer environments. There have been and may continue to be significant attacks on certain third-party providers, and we cannot guarantee that our or any third-party providers’ systems, networks, products, or components have not been breached or that they do not contain exploitable defects or bugs that could result in a breach of or disruption to our systems and networks or the systems and networks of third parties that support or otherwise interface with us and our platforms and services.”

Annual report 2025A · The company itself

“We depend on computing infrastructure operated by Amazon Web Services (“AWS”), Microsoft, and other third parties to support some of our customers and any errors, disruption, performance problems, or failure in their or our operational infrastructure could adversely affect our business, financial condition, and results of operations. We rely on the technology, infrastructure, and software applications, including software-as-a-service offerings, of certain third parties, such as AWS and Microsoft Azure, in order to host or operate some or all of certain key technology platform features or functions of our business, including our cloud-based services (including Palantir Cloud, as defined in the section titled “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Components of Results of Operations”), customer relationship management activities, billing and order management, cybersecurity program, and financial accounting services.”

Annual report 2025A · The company itself

“In addition, if we fail to meet the minimum usage commitments we have in place with third-party cloud hosting providers, we may be required to pay certain penalties or fees, including the difference between the minimum usage commitments and our actual usage, which could negatively affect our financial condition and results of operations.”

Annual report 2025A · The company itself

“Commitments and Contingencies Purchase Commitments The Company has commitments with various third parties to purchase cloud hosting services. Under one of its third-party cloud services agreements, as amended, the Company has committed to spend at least $1.95 billion over ten contract years through September 30, 2033, among other things.”

Annual report 2025A · The company itself

“As we continue to expand our business, industry verticals, and the breadth of our operations, upgrade our infrastructure, 15 Table of Contents hire additional employees, expand into new markets, invest in research and development, invest in sales and marketing, lease more real estate to accommodate our anticipated future growth, and incur costs associated with general administration, including expenses related to being a public company, we expect that our costs of revenue and operating expenses will continue to increase.”

Annual report 2025A · The company itself

“Defects, errors, or a technical failure of our products may temporarily or permanently disable our end-customers’ networks, IT infrastructure, or other systems. Our products must interoperate with end-customers’ existing infrastructure, which often has varied specifications, multiple protocol standards, and products from multiple vendors.”

Annual report 2026A · The company itself

“Our subscription agreements typically contain service-level commitments, and failure to meet these commitments could reduce our revenue and harm our business. Our subscription agreements for certain of our product offerings typically contain service-level commitments, including uptime and response time requirements.”

Annual report 2026A · The company itself

“We rely on data center facilities operated by third-party cloud service providers, and any limitations on capacity, or interference with our use could adversely affect our business, financial condition, and results of operations. We rely on data center facilities operated by third-party cloud service providers to host and operate our cloud-based products and services.”

Annual report 2026A · The company itself

“Our ability to sell our products and subscriptions is dependent on the quality of our technical support services and those of our channel partners, and the failure to offer high-quality technical support services could have a material adverse effect on our end-customers’ satisfaction with our products and subscriptions, our sales, and our operating results. After our products and subscriptions are deployed, our end-customers depend on our technical support services and those of our channel partners.”

Annual report 2026A · The company itself

“•Chronosphere Platform. Our observability platform enables Site Reliability Engineering (“SRE”) teams to efficiently identify and resolve customer-facing issues faster, while managing cloud-native complexity. It provides control over observability costs and access to a purpose-built, highly scalable observability SaaS platform for cloud-native environments.”

Annual report 2026A · The company itself

“Copyright infringement is made easier by the wide availability of higher bandwidth and reduced storage costs, as well as tools that undermine encryption and other security features and enable infringers to disguise their identities online.”

Annual report 2024A · The company itself

“We and our production and distribution partners operate various technology systems in connection with the production and distribution of our programming and films, and intentional or unintentional acts could result in unauthorized access to our content. The continuing proliferation of digital formats and technologies heightens this risk. Internet-connected televisions, set-top boxes and mobile devices are ubiquitous, and many can support illegal retransmission platforms, illicit video-on-demand or streaming services and preloaded hardware, providing more accessible, versatile and legitimate-looking environments for consuming unlicensed film and television content.”

Annual report 2024A · The company itself

“The Utility’s operational networks and information technology systems could be impacted by a cyber incident, cybersecurity breach, physical attack, or technology failure. The Utility relies on technology to operate its business, including complex operational, interconnected networks and information technology systems that support critical functions. The Utility also depends on information technology systems to help it monitor and operate the electric grid, detect ignitions and collect other wildfire-related information, process transactions, track and collect revenues, manage customer billing and energy usage data, maintain internal control over financial reporting, and produce accurate and timely financial statements and regulatory filings.”

Annual report 2025A · The company itself

“We could suffer a material adverse impact from failures and interruptions in the effective operation of our technology. The need to ensure proper functioning and resiliency of our information and communications systems and other technology has become more important and challenging, and the costs involved in that effort continue to be high.”

Annual report 2025A · The company itself

“We are vulnerable to the impact of failures and interruptions of our technology to operate as needed or intended. Failures and interruptions leading to materially adverse impacts could include those resulting from human error, unexpected transaction volumes, or overall security, design or performance issues. In addition, our ability to use our technology effectively could be impacted due to design flaws, software bugs, errors, hardware failures, outages, bad weather, disasters, bad actors, terrorism, civil unrest, military conflict and the like.”

Annual report 2025A · The company itself

“We rely on technology maintained by other companies. We use other companies both to provide products and services directly to us and to assist us in providing products and services to our customers. Others provide the infrastructure that supports, for example, communications, payment, clearing and settlement systems, or information processing and storage.”

Annual report 2025A · The company itself

“The occurrence of any failure or interruption of any of our information or communications systems or other system, or those of other companies on which we rely, including those where there is not a reasonably available alternative, could result in a wide variety of adverse consequences to us. This risk is greater if the issue is widespread, extends for a significant period of time, or results in financial losses to our customers. The consequences include our ability to use our accounting, deposit, loan, payment and other systems, errors in transactions or impaired system functionality with customers, vendors or other parties, damage to our reputation or a loss of customer business (which could occur even if the negative impact on customers was de minimis) and litigation or additional regulatory scrutiny relating to such events (which in turn could lead to liability or other sanctions, including fines and penalties or reimbursement of adversely affected customers).”

Annual report 2025A · The company itself

“Any disruption in services provided by these third parties could adversely affect our ability to conduct our business. Replacing third parties could also entail significant delay and expense.”

Annual report 2025A · The company itself

“Vi har sett ökad försäljning både i Sverige och internationellt, samtidigt som vi har hjälpt många kunder att migrera till vår cloud-lösning. Bland de företag som har gjort övergången finns Alfa Laval, Familjebostäder och Tobii Technology.”

Annual report 2024A · The company itself

“Operating Risks Our business depends on the secure and uninterrupted operation of our systems, facilities, and business functions and the operation of various third-party systems. Our business is highly dependent upon our ability to perform necessary business functions in an efficient and uninterrupted manner.”

Annual report 2025A · The company itself

“In addition, many of our critical business systems interface with and depend on third-party systems. An interruption or degradation of service from a third-party system for any reason, or a determination by a vendor to abandon or terminate support for a system, product, obligation, or service that is significant to our business, could significantly impair our ability to perform critical business functions, including, but not limited to, impeding customer interactions, preventing access to company or customer data, and interfering with our ability to send or accept electronic payments through credit card or debit card networks and the Automated Clearing House, among other payment systems.”

Annual report 2025A · The company itself

“Ongoing competitive, technological, regulatory, informational, and other developments result in significant levels of complexity in our products and in the systems and processes we use to run our businesses. The speed of some of these developments has increased and likely will continue to increase.”

Annual report 2025A · The company itself

“We rely on our ability to access our cash accounts at banks and other financial institutions to operate our business. If we are unable to access the cash in those accounts as needed, whether due to our own systems difficulties, an institution-specific issue at the bank or financial institution (such as a cybersecurity breach or severe weather or other catastrophe impacting their operations), a broader disruption in banking, financial, or wire transfer systems, or otherwise, our ability to pay insurance claims and other financial obligations when due and otherwise operate our business could be materially adversely affected.”

Annual report 2025A · The company itself

“Our business and operations could suffer in the event of system failures, cybersecurity attacks or risks associated with AI. Despite system redundancy, the implementation of security measures and the existence of a disaster recovery plan for our internal and hosted information technology systems, our systems are vulnerable to damages from any number of sources, including energy blackouts, natural disasters, terrorism, war, adverse impacts of AI, telecommunication failures and cybersecurity attacks, such as malware, ransomware, or unauthorized access.”

Annual report 2025A · The company itself

“IT systems are used extensively in virtually all aspects of our business, including clinical testing, test reporting, billing, customer service, logistics and management of medical data. Our success depends, in part, on the continued and uninterrupted performance of our IT systems.”

Annual report 2025A · The company itself

“We use information systems extensively in virtually all aspects of our business, including clinical testing, test ordering and reporting, billing, customer service, logistics and management of data.”

Annual report 2025A · The company itself

“For example, in connection with Project Nova, we committed to a multi-year project to modernize our "Order to Cash" business processes, including the related information technology infrastructure and underlying enabling technologies. We are partnering with Epic, a third-party licensor, to assist in the implementation of Project Nova.”

Annual report 2025A · The company itself

“In February 2025, we committed to a multi-year project ("Project Nova") to modernize our "Order to Cash" business processes, which includes the related information technology infrastructure and underlying enabling technologies. We are partnering with Epic, a third-party licensor, to assist in the implementation of Project Nova.”

Annual report 2025A · The company itself

“A continued interruption to our telecommunications or data processing systems, or the failure to effectively update the technology we utilize could be materially adverse to our business.”

Annual report 2025A · The company itself

“Our continued success depends, in part, upon our ability to: (i) successfully maintain and upgrade the capability of our technology systems on a regular basis; (ii) maintain the quality of the information contained in our data processing and communications systems; (iii) address the needs of our clients by using technology to provide products and services that satisfy their demands; (iv) retain skilled information technology employees; and (v) ensure that our existing and new technology systems conform to regulatory requirements. Failure of our technology systems to operate appropriately, which could result from events beyond our control, including a systems malfunction or cyber-attack, failure by a third-party service provider, or an inability to effectively upgrade those systems or implement new technology-driven products or services, could result in financial losses, liability to clients for non-compliant data processing, and violations of privacy and other laws and regulations, as well as regulatory sanctions.”

Annual report 2025A · The company itself

“We also rely on numerous third parties, including service providers that utilize cloud technologies to conduct other aspects of our business operations, and we face similar risks relating to them. While we regularly conduct security assessments on these third-party service providers, we cannot be certain that their information security protocols are sufficient to withstand a cyber-attack or other security breach.”

Annual report 2025A · The company itself

“We may incur significant expense, including in the areas of technology and cybersecurity, in connection with expanding our existing businesses, recruiting financial advisors, or when acquiring and integrating businesses.”

Annual report 2025A · The company itself

“For example, a widespread Amazon Web Services outage on October 20, 2025, caused significant interruptions that rendered our platform temporarily inaccessible to users.”

Annual report 2025A · The company itself

“Furthermore, our CSPs have discretion to change and interpret their terms of service and other policies with respect to us, including on contract renewal, and those actions may be unfavorable to our business operations. Our CSPs may also take actions beyond our control that could seriously harm our business, including discontinuing or limiting our access to one or more cloud services, increasing pricing terms, terminating or seeking to terminate our contractual relationship altogether (which they may be able to do for their convenience), or altering how we are able to process data in a way that is unfavorable or costly to us.”

Annual report 2025A · The company itself

“Table of Contents Our cloud service infrastructure is run on our cloud services providers (“CSPs”), which are currently Amazon Web Services and Google Cloud Platform. We have experienced, and expect in the future that we may experience from time to time, interruptions, delays, or outages in service availability due to a variety of factors, including outages at our CSPs.”

Annual report 2025A · The company itself

“Risks Related to Cybersecurity, Information Systems, and Intellectual Property Our business, results of operations, financial condition, and prospects may be harmed by our failure to timely and effectively scale and adapt our existing technology and infrastructure. As Redditors generate more content, we may be required to expand and adapt our technology and infrastructure to continue to reliably store, serve, and analyze this content. It may become increasingly difficult to maintain and improve the performance of our products and services, especially during peak usage times, as our products and services become more complex and our traffic increases.”

Annual report 2025A · The company itself

“In addition, because our cloud service infrastructure is run on CSPs, we cannot guarantee that we will be able to expand our infrastructure to meet demand in a timely manner, or on favorable economic terms.”

Annual report 2025A · The company itself

“We expect that investments and expenses associated with our infrastructure will continue to grow, including operating costs, the cost to acquire additional servers and networking equipment to increase the capacity of our infrastructure, increased utilization of third-party cloud computing and associated costs thereof, and increased bandwidth costs.”

Annual report 2025A · The company itself

“For example, on October 20, 2025, Amazon Web Services (AWS) experienced a major disruption in its US-EAST-1 region due to a failure in an internal system. This affected certain of our operations, resulting in service instability and interruption. Further, we have in the past and might in the future be particularly vulnerable to any such internal technology failures because we rely heavily on our own self-clearing platform, proprietary order routing system, data platforms, and other back-end infrastructure for our operations, and any such failures could have an adverse effect on our reputation, business, financial condition, and results of operations.”

Annual report 2025A · The company itself

“Our products and internal systems also rely on software that is highly technical and complex (including software developed or maintained internally and/or by third parties and also including machine learning models) in order to collect, store, retrieve, transmit, manage and otherwise process immense amounts of data. The software on which we rely has in the past contained and might in the future contain errors, bugs, vulnerabilities, design defects, or technical limitations that might compromise our ability to meet our objectives. Some such problems are inherently difficult to detect, and some such problems 57 Table of Contents might only be discovered after code has been released for external or internal use.”

Annual report 2025A · The company itself

“We might also encounter technical issues in connection with changes and upgrades to the underlying networks of supported cryptocurrencies. Any number of technical changes, software upgrades, soft or hard forks, cybersecurity incidents, or other changes to the underlying blockchain networks might occur from time to time, causing incompatibility, technical issues, disruptions or security weaknesses to our platforms. If we are unable to identify, troubleshoot, and resolve any such issues successfully, we might no longer be able to support such cryptocurrency, our customers’ assets might be frozen or lost, the security of our hot or cold wallets might be compromised, and our platforms and technical infrastructure might be affected.”

Annual report 2025A · The company itself

“In addition, surges in trading volume on our platforms have in the past and might in the future cause our systems to operate at diminished speed or even fail, temporarily or for a more prolonged period of time, which would affect our ability to process transactions and potentially result in some customers’ orders being executed at prices they did not anticipate, executed incorrectly, or not executed at all. For example, we experienced (i) the March 2020 Outages, which resulted in some of our customers being unable to buy and sell securities and other financial products on our U.S. trading platform for a period of time, and (ii) the partial service outages and degraded service on our RHC cryptocurrency platform from time to time in mid-April and early May 2021 caused by a surging demand for cryptocurrency trading (the “April-May 2021 Disruptions”), which resulted in some of our customers being unable to buy and sell cryptocurrencies for a period of time.”

Annual report 2025A · The company itself

“Disruptions to, destruction of, improper access to, breach of, instability of, or failure to effectively maintain our information technology systems (including our data processing systems, self-clearing platform, and order routing system) that allow our customers to use our products and services, and any associated degradations or interruptions of service could result in damage to our reputation, loss of customers, loss of revenue, regulatory or governmental investigations, civil litigation, and liability for damages.”

Annual report 2025A · The company itself

“Table of Contents A substantial majority of our customers’ activity on our platforms occurs on mobile devices. We are dependent on the interoperability of our app with popular mobile operating systems, networks, technologies, products, hardware, and standards that we do not control, such as the Android and iOS operating systems. Any changes, bugs or technical issues in such systems, new generations of mobile devices or new versions of operating systems, or changes in our relationships with mobile operating system providers, device manufacturers or mobile carriers, or in their terms of service or policies that degrade the functionality of our app, reduce or eliminate our ability to distribute applications, give preferential treatment to competitive products, limit our ability to target or measure the effectiveness of applications, or impose fees or other charges related to our delivery of our application could adversely affect customer usage of the Robinhood app.”

Annual report 2025A · The company itself

“For example, from time to time we have experienced delays in our ability to launch products or update features on our platforms as a result of prolonged app store review processes. Further, we are subject to the standard policies and terms of service of these operating systems, as well as policies and terms of service of the various application stores that make our application and experiences available to our developers, creators and customers.”

Annual report 2025A · The company itself

“We face a risk that our third-party service providers might be unable or unwilling to continue to provide these services to meet our current needs in an efficient, cost-effective manner or to expand their services to meet our needs in the future. Any failures by our third-party service providers that result in an interruption in service, unauthorized access, misuse, loss or destruction of data or other similar occurrences could interrupt our business, cause us to incur losses, result in decreased customer satisfaction and increase customer attrition, subject us to customer complaints, significant fines, litigation, disputes, claims, regulatory investigations or other inquiries and harm our reputation.”

Annual report 2025A · The company itself

“For example, after BOATS, the trading venue that primarily supports overnight trading on Robinhood 24 Hour Market (8:00 pm - 4:00 am ET), experienced disruptions during the overnight trading session on August 4-5, 2024, we received requests for information from certain regulators.”

Annual report 2025A · The company itself

“Furthermore, to the extent the operation of our systems relies on our third-party service providers, through either a connection to, or an integration with, third parties’ systems, the risk of cybersecurity attacks and loss, corruption, or unauthorized access to or publication of our information or the confidential information and personal data of customers and employees is increased. Third-party risks include insufficient security measures, data location uncertainty, vulnerabilities and the possibility of data storage in inappropriate jurisdictions where laws or security measures might be inadequate. Our ability to monitor, and our resources to optimize integration with, third-party service providers’ data security practices are also limited.”

Annual report 2025A · The company itself

“We rely on certain third-party computer systems or third-party service providers, including several cloud technology providers such as AWS (on which we primarily rely to deliver our services to customers on our platforms), internet service providers, payment services providers, market and third-party data providers, regulatory services providers, clearing systems, Liquidity Providers, securities and cryptocurrency exchanges, facilitators of cryptocurrency staking services, alternative trading systems (such as BOATS with respect to Robinhood 24 Hour Market), exchange systems (such as ForecastEx, LLC and KalshiEx LLC, with respect to certain event contracts), banking systems, payment gateways that link us to the payment card and bank clearing networks to process transactions, co-location facilities, communications facilities, and other third-party facilities to run our platforms, facilitate trades by our customers (such as Wells Fargo Clearing Services, LLC for TradePMR customers), provide the technology we use to manage some of our cryptocurrency custody, transfer, and settlement operations and support or carry out some regulatory obligations.”

Annual report 2025A · The company itself

“Overnight trading on Robinhood 24 Hour Market is primarily supported by BOATS, a trading venue that replicates the role that stock exchanges play during regular market hours.”

Annual report 2025A · The company itself

“Compensation and benefits costs are influenced by general economic factors, including but not limited to changes in the cost of health insurance, retirement benefits, inflation, trends specific to the skill sets required for our workforce, and the amount of competition for qualified employees within our markets. •We make significant investments in information technology data centers and other technology initiatives and such investments may not result in increased revenues. •We rely on data provided by third-party data suppliers for a variety of our products and we rely significantly on AWS to provide, develop and maintain our cloud infrastructure.”

Annual report 2025A · The company itself

“While such incidents have not had a material impact on the Company to date, future incidents could have a material adverse effect on our business, financial condition or results of operations. •AWS provides a distributed computing infrastructure platform for business operations, or what is commonly referred to as a “cloud” computing service. Currently, we run a significant amount of our computing on AWS. Given this, any disruption of or interference with our use of AWS would impact our operations and our business would be adversely impacted.”

Annual report 2025A · The company itself

“•We rely on the business infrastructure and systems of third parties with whom we do business and to whom we outsource the maintenance and development of operational and technological functionality, including our AWS “cloud” computing services. Our service providers from time to time experience system breakdowns or failures, outages, downtime, cyber attacks, adverse changes to financial condition, bankruptcy or other adverse conditions.”

Annual report 2025A · The company itself

“Our inability to successfully develop, adapt, or implement new and improved processes and technology could materially adversely impact our business, financial condition or results of operations.”

Annual report 2025A · The company itself

“•We have transitioned an important portion of our technology to a cloud-based infrastructure, which is complex, time consuming, and involves substantial expenditures. Our utilization of cloud services is critical to developing and providing products and services to our customers, scaling our business for future growth, maintaining data and otherwise operating our business; any such implementation involves risks inherent in the conversion to a new system, including loss of information and potential disruption to our normal operations.”

Annual report 2025A · The company itself

“We rely heavily on network systems and the Internet and any failures or disruptions may adversely affect our ability to serve our customers. •Our products and services are delivered electronically, and our customers rely on our ability to process transactions rapidly and deliver substantial quantities of data on computer-based networks. Our customers also depend on the continued capacity, reliability, resiliency, and security of our electronic delivery systems, our websites and the Internet. •Our ability to deliver our products and services electronically may be impaired due to infrastructure or network failures, malicious or defective software, human error, natural disasters, service outages at cloud or third-party Internet providers or increased government regulation. Delays in our ability to deliver our products and services electronically may harm our reputation and result in the loss of customers.”

Annual report 2025A · The company itself

“•The physical or technological infrastructure used by us or our third-party service providers can become obsolete or restrictive, unavailable, incompatible with future versions of our products, fail to be comprehensive or accurate, or fail to operate effectively, and our business could be adversely affected if we are unable to timely or effectively replace it. •We also do not have fully redundant systems for most of our smaller office locations and low-risk systems, and our disaster recovery plan does not include restoration of non-essential services. If a disruption occurs in one of our locations or systems and our personnel in those locations or those who rely on such systems are unable to utilize other systems or communicate with or travel to other locations, such persons’ ability to service and interact with our customers may suffer.”

Annual report 2025A · The company itself

“Table of Contents •Any interruptions or delays in services from third parties, including data center hosting facilities, cloud computing platform providers and other hardware and software vendors, as well as Internet infrastructure, or from our inability to adequately plan for and manage service interruptions or infrastructure capacity requirements.”

Annual report 2026A · The company itself

“As our reliance on these third-party systems increases, and particularly on third-party cloud computing platforms, our exposure to service interruptions and performance or quality issues may also increase.”

Annual report 2026A · The company itself

“If we experience significant strains on our data center capacity, whether due to insufficient infrastructure capacity or for other reasons outside of our control, our customers could experience performance degradation or service outages that may subject us to financial liabilities, result in customer losses, subject us to litigation and harm our reputation and business.”

Annual report 2026A · The company itself

“For example, in the second quarter of fiscal 2026, we implemented a new enterprise resource planning system (“ERP”). Among other things, our ERP is essential to our financial planning, reporting, and compliance programs, and any unforeseen problems with our new ERP or in migrating away from previous systems and processes could harm our ability to manage our business.”

Annual report 2026A · The company itself

“We provide our services through cloud computing platform partners who offer Infrastructure-as-a-Service, including servers, storage, databases and networking, as well as through infrastructure designed and operated by us but secured within third-party data center facilities. We continue to invest in and expand the deployment of Hyperforce, which allows our platform and applications to be delivered rapidly and reliably to locations worldwide and provides our customers autonomy and control over data residency.”

Annual report 2026A · The company itself

“We may rely in part on third-party models, datasets, cloud infrastructure or other technologies in developing or offering certain AI applications. Our reliance on such third parties exposes us to risks relating to performance, availability, security vulnerabilities, intellectual property claims, licensing restrictions, cost increases or changes in terms of service.”

Annual report 2026A · The company itself

“Cost of Revenues and Operating Expenses Cost of Revenues Cost of subscription and support revenues primarily consists of expenses related to our employee-related costs, which includes salaries, benefits and stock-based compensation expense, delivering our service and providing support, including the costs of data center capacity, certain fees paid to various third parties for the use of their technology, services and data, and allocated overhead.”

Annual report 2026A · The company itself

“Integration. Our unified Integration, Automation, and API Management offerings, powered by MuleSoft, provide the essential building blocks to deliver AI-powered, end-to-end, connected experiences and faster innovation.”

Annual report 2026A · The company itself

“Technology, Development and Operations We primarily deliver our solutions as highly scalable cloud computing application and platform services on a multi-tenant technology architecture. Multi-tenancy is an architectural approach that allows us to operate a single application instance for multiple organizations, treating all customers as separate tenants who run in virtual isolation from each other. This approach allows us to spread the cost of delivering our services across our user base and scale our business faster than traditional software vendors while focusing our resources on building new functionality and enhancing existing offerings.”

Annual report 2026A · The company itself

“Business interruption, health and safety and physical climate-related hazards Operational disruption to the Group’s business may be caused by a major disaster and/or external threat that could restrict its ability to supply products and services to its customers, including potential disruptions, such as the availability of internet or energy in the Group’s main operating countries.”

Annual report 2025A · The company itself

“Functioning and reliable information and communication technology systems are integral to the Group’s businesses and operations. The systems include online services, digital learning platforms, VOD platforms, newspaper and magazine subscriptions, advertising and delivery systems, as well as various internal systems for production control, customer relations management and supporting functions.”

Annual report 2025A · The company itself

“Sanoma collaborates with various technology and digital suppliers as content use is increasingly shifting to digital platforms. Data centres provide the infrastructure needed to support the Company’s digital platforms, ensuring the availability, security, and performance of its online services.”

Annual report 2025A · The company itself

“Third-party suppliers in Sanoma’s value chain include, among others, technology solution and service providers, paper, print and logistics suppliers as well as content providers for both Learning and Media Finland. Sanoma’s daily business is dependent on its ability to identify sources of supply that meet its standards, although Sanoma is not dependent on any individual suppliers.”

Annual report 2025A · The company itself

“SATS’ operations rely heavily on technology, making cybersecurity and IT infrastructure key concerns. Cyber threats, system failures, and data security risks could disrupt business activities and damage member trust.”

Annual report 2024A · The company itself

“While this period of technological transformation presents both opportunities and uncertainties reminiscent of prior inflection points—such as the shift from on-premises to cloud computing in the early 2010s and the advent of mobile computing before that—we believe our established market position, deep customer relationships, and platform capabilities position us favorably to capitalize on these emerging needs.”

Annual report 2025A · The company itself

“•Delays in improving our information systems and processes could interfere with our ability to support our existing and growing base of customers and employees as we scale. •We may not be able to protect or enforce our IP rights. •Our use of open-source software could harm our ability to sell our products and services and subject us to possible litigation. •Various factors, including our customers’ business, integration, migration, compliance and security requirements or errors by us, our partners or our customers, may cause implementations of our products to be delayed, inefficient or otherwise unsuccessful. •Our failure or perceived failure to achieve our corporate sustainability goals or maintain corporate sustainability practices that meet evolving stakeholder expectations could adversely affect us. •We may face natural disasters, including climate change, and other events beyond our control.”

Annual report 2025A · The company itself

“Our business depends on our platform to be available without disruption. From time to time, we have experienced and expect to continue to experience defects, disruptions, data loss, outages and other performance and quality problems with our platform. New defects may be detected in the future and may arise from our increasing use of public cloud service providers. For example, we provide regular updates to our services, which can contain undetected defects.”

Annual report 2025A · The company itself

“Our customers use our services to manage important aspects of their businesses, and our reputation and business will be adversely affected if our customers and potential customers believe our services are unreliable. Disruptions or defects in our services may reduce our revenues, cause us to issue credits or pay penalties, subject us to claims and litigation, cause our customers to delay payment or terminate or decline to renew their subscriptions, and adversely affect our ability to attract new customers.”

Annual report 2025A · The company itself

“Delays in improving our information systems and processes could interfere with our ability to support our existing and growing base of customers and employees as we scale. We rely on our information systems and those of third parties to operate and scale our business. As the information we rely on for our business evolves, including as a result of implementing AI technologies, our information systems, including their infrastructure needs, network capacity and computing power, may need to expand. We have made and continue to make investments to improve our information systems to support the needs of our growing base of customers and employees, increase productivity, develop and enhance our services, expand into new geographic areas, and scale with our overall growth.”

Annual report 2025A · The company itself

“Although we currently serve our customers primarily using equipment managed by us and co-located in third-party data centers operated by several different providers worldwide, we expect to increasingly serve our customers using data center facilities operated by public cloud service providers. As our reliance on public cloud service providers increases, we face heightened risks of outages or performance degradation beyond our direct control.”

Annual report 2025A · The company itself

“We expect our subscription gross profit percentage to decrease slightly for the year ending December 31, 2026 compared to the year ended December 31, 2025, primarily due to the ongoing growth of our third-party cloud services usage and incremental amortization expense of intangible assets acquired through acquisitions completed during the year ended December 31, 2025.”

Annual report 2025A · The company itself

“Equally important, our experience operating a software-as-a-service platform at scale gives us operational expertise in maintaining reliability, security, and performance standards that enterprise customers require, particularly as they entrust increasingly critical functions to AI-enabled systems.”

Annual report 2025A · The company itself

“Our Technology and Operations We operate a multi-instance architecture that provides each customer with a dedicated application layer and database. This architecture is designed to support availability, scalability, performance, security and customer control.”

Annual report 2025A · The company itself

“With respect to service delivery methods, we entered into agreements with public cloud service providers to achieve greater operational and financial efficiencies. Our strategy of migrating an increasing portion of Company hosted instances to these providers depends on our ability to adequately prepare our operations to facilitate the migration, our customers’ willingness to use public cloud services to host their instances, and customer demand not materially falling short of our commitments with the public cloud service providers.”

Annual report 2025A · The company itself

“Asset Management Asset Management products include IT Asset Management and Enterprise Asset Management. IT Asset Management helps manage the lifecycle of software, hardware and cloud-based IT assets.”

Annual report 2025A · The company itself

“IT Operations Management IT Operations Management, or ITOM, identifies, monitors and manages a customer’s physical and cloud-based IT infrastructure. It can simultaneously identify issues from a customer’s IT infrastructure (e.g., physical servers) and digital components (e.g., email), which helps organizations better manage potential disruptions to business services.”

Annual report 2025A · The company itself

“IT Service Management IT Service Management, or ITSM, provides predictive intelligence, incident management and response, routine task and request automation, performance analytics and process optimization. ITSM’s real-time tracking and validation enable quick, controlled IT service deployment for change management, development and operations, which helps organizations manage their IT risk and regulatory requirements.”

Annual report 2025A · The company itself

“upgrading platforms to deliver a seamless, future-ready customer experience”

Annual report 2025A · The company itself

“Risk related to internal system failures, continuity gaps, or physical disruptions (e.g., power outages, fire, flooding) that impact Solar’s ability to maintain critical operations and recover effectively.”

Annual report 2025A · The company itself

“We continued the development of digital customer integration services, thus offering customers improved integration options when doing business with Solar.”

Annual report 2025A · The company itself

“The Company depends heavily on the use of computer systems, hardware, software, technology infrastructure, operational technology, networks, and online sites (collectively, “IT Systems”) to run its ongoing operations and support its strategic objectives. These IT Systems include, among others, the Company’s website and reservation system; mobile application; flight dispatch and tracking systems; flight simulators; check-in kiosks; aircraft maintenance, planning, and record keeping systems; telecommunications systems; flight planning and scheduling systems; crew scheduling systems; human resources systems; and financial planning, management, and accounting systems.”

Annual report 2025A · The company itself

“In the ordinary course of business, the Company’s IT Systems require continuous updates and modifications to support business operations, growth, and changing business strategy or regulatory requirements. These enhancements and upgrades represent significant investments and challenges in terms of costs, human resources, and development of internal controls. Implementation and integration require balancing the introduction of new capabilities with the management of existing systems and present the risk of operational or security inadequacy or interruption.”

Annual report 2025A · The company itself

“The Company is also reliant upon the performance of third parties for timely and effective implementation and support of many of its technology initiatives, to provide required data and information services, and for maintaining adequate information security measures within the services and/or software they deliver, and such third parties are occasionally not timely or adequate in providing the services required by the Company. If any of the Company’s IT Systems or third-party systems were to cease functioning, or if its third-party service providers or data providers were to fail to adequately and timely provide required information or reports, technical support, system maintenance, security, or software upgrades for any of the Company’s existing IT Systems, the Company could experience service interruptions, delays, and loss of critical data, which could harm its operations and result in financial losses and reputational damage.”

Annual report 2025A · The company itself

“IT-virksomheten er en vesentlig faktor for at konsernet skal nå sine forretningsmessige mål. Bankens IT-virksomhet er også sentral for regnskapsføringen og den finansielle rapporteringen.”

Annual report 2024A · The company itself

“SpareBank 1 Alliansen har inngått avtale med IT-leverandøren EVRY om drift og videreutvikling av kjerneløsningen til Allianse-bankene.”

Annual report 2024A · The company itself

“Videre økte IKTkostnadene som følge av økte allianse kostnader og økte kostnader til eksterne ITleverandører.”

Annual report 2024A · The company itself

“SpareBank 1 Østlandet er en del av SpareBank 1alliansen der 12 selvstendige banker i Norge samarbeider om felles ITløsninger, merkevare og kompetanse. Alliansens formål er å anskaffe og levere konkurransedyktige finansielle tjenester og produkter og å oppnå stordriftsfordeler i form av lavere kostnader og høyere kvalitet.”

Annual report 2024A · The company itself

“Bankene må i stor grad utvikle løsninger sammen med eksterne aktører.Vi har i 2024, sammen med øvrige banker i SpareBank 1alliansen, vedtatt en større teknologisk investering på området hvitvasking.”

Annual report 2024A · The company itself

“I 2024 har vi fortsatt arbeidet med å sikre selskapets verdier mot IKTtrusler, og har særlig jobbet med følgende temaer • oppfølging av hendelser både lokalt og i alliansen • avvik og hendelser er blitt behandlet i henhold til rutiner og retningslinjer med få eller ingen konsekvenser for bankens systemer eller tjenester • tilpasning til kommende DORA direktiv (Digital Operational Resilience Act).”

Annual report 2024A · The company itself

“Our businesses depend on information technology infrastructure, both internal and external, to, among other things, record and process a large volume of increasingly complex transactions and other data, in many currencies, on a daily basis, across numerous and diverse markets and jurisdictions and to maintain that data securely.”

Annual report 2025A · The company itself

“Our networks, technology systems, facilities and information have suffered and in the future may suffer disruptions or otherwise fail to operate properly or become disabled, overloaded or damaged as a result of a number of factors, including events that are wholly or partially beyond our control, which can adversely affect our ability to process transactions, provide services, maintain systems availability, maintain information security, comply with internal controls or regulations or otherwise appropriately conduct our business activities. For example, in addition to cyber-attacks, there could be sudden increases in transaction or data volumes, electrical or telecommunications outages, natural disasters, or employee or contractor error or malfeasance.”

Annual report 2025A · The company itself

“The third parties with which we do business, which facilitate our business activities, to whom we outsource operations or other activities, from whom we receive products or services or with whom we otherwise engage or interact, including financial intermediaries, and technology infrastructure and technology service providers, such as cloud services and software-as-a-service providers, are also susceptible to the foregoing risks (including the third parties with which they are similarly interconnected or on which they otherwise rely), and our or their business operations and activities have been and may in the future be adversely affected, perhaps materially, by failures, terminations, errors or malfeasance by, or attacks or constraints on, one or more financial, technology, infrastructure or government institutions or intermediaries with whom we or they are interconnected or conduct business.”

Annual report 2025A · The company itself

“For some of these third parties with which we do business, some of whom provide material services to us, there are few or no viable alternative providers, and we therefore face transition risks to either change to a new external provider (which may be a current alternative provider), if available with sufficient capacity and on terms acceptable to us, or to internalize the service or technology, in the event the third party is unable to resume the provision of services or technology on substantially the same basis as prior to the relevant incident. These transition risks include out-of-pocket costs, client loss, regulatory scrutiny and reputational harm, any of which could be material.”

Annual report 2025A · The company itself

“In addition, we are subject to increasing resiliency risk and client and regulatory expectations, requiring continuous reinvestment, enhancement and improvement in and of our information technology and operational infrastructure, controls, security and personnel which may not be effectively or timely deployed or integrated.”

Annual report 2025A · The company itself

“We will need to make additional investments to develop an appropriate operational infrastructure and to enhance our risk management frameworks and capabilities to support our businesses through their evolution, which may increase the operating expenses of such businesses.”

Annual report 2025A · The company itself

“Some of the vendors on which we rely, including cloud service providers, are large, well known and used by many other major financial and other institutions, which increases the risk that they will be targeted by malefactors.”

Annual report 2025A · The company itself

“Due to our dependence on technology and the important role it plays in our business operations, we are attempting to improve and update our information technology infrastructure, among other things: (1) as some of our systems are approaching the end of their useful life, are redundant or do not share data without reconciliation; (2) to be more efficient, meet increasing client and regulatory security, resiliency and other expectations and support opportunities of growth; and (3) to enhance resiliency and maintain business continuity. Updating these systems involves State Street Corporation | 44 material costs and often involves implementation, integration and security risks, including risks that we may not adequately anticipate or meet the market or technological trends, regulatory expectations or client needs or experience unexpected challenges that could cause financial, reputational and operational harm.”

Annual report 2025A · The company itself

“Vårt produktutbud består uteslutande av onlinespel som är beroende av en säker och välfungerande internetanslutning för att användarna ska kunna spela våra spel. Koncernens verksamhet är därför beroende av IT-systemens integritet, tillförlitlighet och driftsprestanda samt användarnas tillgång till internet.”

Annual report 2024A · The company itself

“Tillgänglighet och säkerhet i bankens IT-tjänster är en förutsättning för bankens verksamhet. Den tekniska utvecklingen och digitaliseringen av banktjänster innebär att området ökar i betydelse.”

Annual report 2024A · The company itself

“Finansieringsstrategin bygger på att illikvida tillgångar finansieras stabilt och långsiktigt och att en positiv likviditetsposition (kassaflöden tillsammans med likvida tillgångar) ska upprätthållas även under stressade förhållanden.”

Annual report 2024A · The company itself

“Känslig information om kunder och kundrelationer hanteras löpande i en banks verksamhet. Handelsbankens arbete med informationssäkerhet och dataskydd har som övergripande mål att skydda informationen utifrån tillgänglighet, riktighet, konfidentialitet och spårbarhet.”

Annual report 2024A · The company itself

“Synsam är beroende av väl fungerande IT-system för att samla, behandla och kommunicera information på ett säkert och effektivt sätt. Förvaltning och underhållsarbete för drift av Synsams IT-system sköts av tredje part.”

Annual report 2024A · The company itself

“In addition, certain of our products include online functionality. The ability of our products to enable this functionality, and our ability to offer content through a video game platform's digital distribution channel, is dependent upon the continued operation and security of such platform's online network.”

Annual report 2026A · The company itself

“Our software is susceptible to errors, which can harm our financial results and reputation. The technological advancements of new hardware platforms result in the development of more complex software products. As software products become more complex, the risk of undetected errors in new products increases. We may need to produce and distribute patches in order to repair such errors, which could be costly and may distract our developers from working on new products.”

Annual report 2026A · The company itself

“We rely on our consumers' access to significant levels of Internet bandwidth for the sale and digital delivery of our content and the functionality of our games with online features. Changes in laws or regulations that adversely affect the growth, popularity, or use of the Internet, including laws affecting "net neutrality" or measures enacted in certain jurisdictions, could decrease the demand for our products and services or increase our cost of doing business.”

Annual report 2026A · The company itself

“We depend on our internal development studios and third-party software developers to develop new interactive entertainment software within anticipated release schedules and cost projections.”

Annual report 2026A · The company itself

“We depend on servers and Internet bandwidth to operate our games and digital services with online features. If we were to lose server capacity or lack sufficient Internet bandwidth for any reason, our business could suffer.”

Annual report 2026A · The company itself

“Because of the importance of our online business to our revenues and results of operations, our ability to access adequate Internet bandwidth and online computational resources to support our business is critical. If the price of such resources increases, we may not be able to increase our prices or subscriber levels to compensate for such costs, which could materially adversely affect our business, financial condition, and operating results.”

Annual report 2026A · The company itself

“We use open-source software in connection with certain of our games and services, which may pose particular risks to our proprietary software, products, and services in a manner that could have a negative impact on our business. We use open-source software in connection with certain of our games and the services we offer. The original developers of the open source code provide no warranties on such code and open-source software may have unknown bugs, malfunctions and other security vulnerabilities, which could impact the performance and information security of our technology.”

Annual report 2026A · The company itself

“We rely on third parties to support our business operations, including portions of our technology infrastructure (including certain generative artificial intelligence services), digital platforms, replenishment and fulfillment operations, store and supply chain infrastructure, delivery services (including by independent contractors via our Shipt subsidiary), guest contact centers, payment processing, digital advertising offerings, and extensions of credit for our Target-branded payment card program.”

Annual report 2026A · The company itself

“We have made, and expect to continue to make, significant investments in our technology infrastructure, digital platforms, and supply chain infrastructure.”

Annual report 2026A · The company itself

“Further, the implementation, maintenance, segregation and improvement of these systems require significant management time, support and cost, and there are inherent risks associated with developing, improving and expanding our core systems as well as implementing new systems and updating current systems, including disruptions to the related areas of business operation. These risks may affect our ability to manage our data and inventory, procure parts or supplies or manufacture, sell, deliver and service products, adequately protect our intellectual property or achieve and maintain compliance with, or realize available benefits under, tax laws and other applicable regulations.”

Annual report 2025A · The company itself

“We continue to expand our information technology systems as our operations grow, such as product data management, procurement, inventory management, production planning and execution, sales, service and logistics, dealer management, financial, tax and regulatory compliance systems. This includes the implementation of new internally developed systems and the deployment of such systems in the U.S. and abroad.”

Annual report 2025A · The company itself

“We rely heavily on IT systems, including those operated and maintained by our suppliers, service providers and other third parties, to manage key aspects of our business, including planning; purchasing; sales, including point-of-sale transaction processing and e-commerce; supply chain management; logistics; inventory management; human resources; financial management; communications; information security and legal and regulatory compliance.”

Annual report 2026A · The company itself

“Moreover, because we make extensive use of third party suppliers and service providers, such as cloud services that support our internal and external-facing operations, successful cyberattacks that disrupt or result in unauthorized access to third party IT Systems can materially impact our operations and financial results.”

Annual report 2025A · The company itself

“We also rely on technology to provide our digital offerings, live 22 Table of Contents streaming, and virtual events, which may be vulnerable to hacking, denial of service attacks, human error and other unanticipated problems or events that could result in interruptions in our service and to unauthorized access to, or alteration of, the content and data contained on our IT Systems and those of our third-party vendors. Interruptions in these IT Systems, or with the internet in general, whether due to fault by any party or due to weather, natural disasters, terrorist attacks, power loss or other force majeure type events, could make our content unavailable or degraded.”

Annual report 2025A · The company itself

“We rely on hardware, software, technology infrastructure, online sites and networks, and various computer systems (such as our information systems, content distribution systems, ticketing systems, and payment processing systems) (collectively, “IT Systems”), to conduct our business. We also rely on the technology systems of third parties (including Paramount+, Netflix, ESPN, and Peacock) with which we partner in our operations.”

Annual report 2025A · The company itself

“We depend on various technology, software, products and services from third parties or available as open source, including data centers and API technology, payment processing, payroll and other technology and professional services, some of which are critical to the features and functionality of our platform.”

Annual report 2025A · The company itself

“A significant portion of our business relies upon hardware and services that are hosted, managed and controlled by third-party co-location providers for our data centers, and we are dependent on these third parties to provide continuous power, cooling, Internet connectivity and physical and technological security for our servers. In the event that these third-party providers experience any interruption in operations or cease business for any reason, or if we are unable to agree on satisfactory terms for continued hosting relationships, we would be forced to enter into a relationship with other service providers or assume some hosting responsibilities ourselves.”

Annual report 2025A · The company itself

“Material portions of our business require the Internet infrastructure to be reliable. Significant part of our future success continues to depend on the use of the Internet as a means to access public information and perform transactions electronically, including, for example, electronic filing of court documents and electronic payment processing.”

Annual report 2025A · The company itself

“We rely on third-party providers—including Amazon Web Services (AWS)—for hosting services and other technology-related services needed to deliver certain of our cloud solutions and other functionality. Any disruption in the services provided by such third-party providers could adversely affect our business and subject us to liability. A material portion of our business is provided through software hosting services, which are generally hosted from and use computing infrastructure provided by third parties, including AWS.”

Annual report 2025A · The company itself

“Cost of Revenues and Gross Margins – Our primary cost components are hosting costs, merchant fees, and personnel expenses in connection with providing software implementation, subscription-based services and maintenance and support to our clients.”

Annual report 2025A · The company itself

“The increase is primarily due to a $25.4 million increase in merchant fees and other third-party fees related to higher transaction volumes, a $21.0 million increase in hosting costs, and a $4.8 million increase in stock-based compensation expense.”

Annual report 2025A · The company itself

“We have offered most of our core products in both an on-premises license model and a cloud-based subscription model for several years and have seen a steady increase in the percentage of new software clients choosing our cloud model in recent years. Beginning in late 2019, we moved our approach to sales from “cloud-neutral” to “cloud-first,” with an increasing preference to provide our solutions in the cloud. We are making significant investments in optimizing our products to be deployed efficiently in the public cloud.”

Annual report 2025A · The company itself

“We have a strategic collaboration agreement with AWS for cloud hosting services, which brings together Tyler, the nation’s largest software company exclusively focused on the public sector, and AWS, the broadest and deepest cloud platform. Specifically, the agreement with AWS provides the framework for development, training and collaboration in order to support next-generation applications that have the scalability, resiliency, and security AWS offers. AWS is assisting us in accelerating innovation and the development of strategic initiatives.”

Annual report 2025A · The company itself

“Table of Contents The ability to update or maintain technology could adversely affect our operations – We rely on information technology in all aspects of our business, including technology systems operated by us (whether created by us or purchased), under control of third parties, and open-source software. If we do not have sufficient capital or do not deploy sufficient capital in a timely manner to acquire, develop, or implement new technology or maintain or upgrade current systems, such as Positive Train Control (PTC), NetControl, or the latest version of our transportation control systems, we may suffer a rail service outage or competitive disadvantage within the rail industry and with companies providing other modes of transportation service, which could have a material adverse effect on our results of operations, financial condition, and liquidity.”

Annual report 2025A · The company itself

“If we fail to maintain properly the integrity or availability of our data or successfully consolidate, integrate, upgrade or expand our existing information systems, or if our technology products do not operate as intended, our business could be materially and adversely affected.”

Annual report 2025A · The company itself

“Unplanned interruptions in UPM's or a supplier's critical information system services, loss of critical, financial or personal data due to reasons beyond UPM’s or its suppliers' control, such as power cuts, geopolitically-driven service restrictions, software or telecommunication errors or other major disasters, such as fires or natural disasters, as well as user errors by UPM’s own personnel or suppliers, can potentially cause major damage to UPM’s businesses and disruptions to the continuity of operations.”

Annual report 2025A · The company itself

“For example, Salesforce and Amazon Web Services have experienced significant service outages in the past and may do so again in the future.”

Annual report 2026A · The company itself

“Any changes in third-party service levels at our computing infrastructure service providers or any related disruptions, slowdowns, failures, or other performance problems with our solutions could result in lengthy interruptions in our services, damage our customers’ stored files, or result in potential losses of customer data, any of which could adversely affect our reputation.”

Annual report 2026A · The company itself

“We expect cost of subscription to increase in absolute dollars in the future due to increased usage of our subscription services and continued investment in our data solutions.”

Annual report 2026A · The company itself

“Technology Infrastructure and Operations Our products are hosted in data centers located in the United States, the European Union, Japan, South Korea, Singapore, Australia, and Brazil. Our products used only within China are hosted in data centers located in China.”

Annual report 2026A · The company itself

“Cost of Revenues Cost of subscription revenues for all of our solutions consists of expenses related to our computing infrastructure provided by third parties, including Amazon Web Services and Salesforce, Inc., personnel related costs associated with hosting our subscription services and providing support, including our data stewards, data acquisition costs, and costs of delivering our data solutions, expenses associated with computer equipment and software, and allocated overhead.”

Annual report 2026A · The company itself

“Technology remains central to Schibsted Marketplaces' business and operations.”

Annual report 2024A · The company itself

“Since our marketplace is mainly a digital business, a main risk in our supply chain is related to the use and stability of data centres. This is a key priority in our cybersecurity programme and is handled in close collaboration with supply chain partners.”

Annual report 2024A · The company itself

“Significant progress has already been made, with Tori in Finland successfully migrating to our new common platform and launching 'ToriDiili,' a local adaptation of FINN’s transactional solution 'Fiks ferdig,' with strong results. In early Q1 2025, we reached the next major milestone on this journey, with the successful migration of DBA in Denmark.”

Annual report 2024A · The company itself

“Our planned actions in relation to material risks and opportunities are focused on the transition to one common tech platform for our marketplace services, which will enable us to more effectively address material risks and opportunities across the Nordics.”

Annual report 2024A · The company itself

“Routing on the internet depends on the Border Gateway Protocol (“BGP”), which is a protocol that relies on networks within the internet infrastructure acting in a trustworthy manner when sharing information about destinations for connectivity and the routing of internet traffic. As a trust-based protocol, BGP has a number of vulnerabilities that may lead to outages or disrupt our services, including as a result of “route hijacks” that involve accidental or malicious rerouting of internet traffic, or “route leaks” that involve the malicious or unintentional propagation of routing information beyond the intended scope of the originator, receiver, and/or one of the networks along the route’s path.”

Annual report 2025A · The company itself

“Table of Contents We could encounter system interruptions or system failures resulting from activities beyond our direct control that could materially harm our business. We depend on the uninterrupted operation of our various systems, secure data centers, points of presence around the world and other computer and communication networks. Our systems and operations are vulnerable to damage or interruption from power loss, war, transmission cable cuts and other telecommunications failures, damage or interruption caused by fire, earthquake, and other natural disasters, intentional acts of vandalism, terrorist attacks, unintentional mistakes, or errors.”

Annual report 2025A · The company itself

“A failure in the operation or update of the root zone servers that we operate, the root zone file, the Root Zone Management System, the TLD name servers, the TLD zone files that we operate, or other network functions, could result in, among other problems, (1) a DNS resolution or other service outage or degradation, (2) the deletion of one or more gTLDs or ccTLDs from the internet, (3) the deletion of one or more second-level domain names from the internet, or (4) a misdirection of one or more domain names to different servers. A failure in the operation or update of the supporting cryptographic and other operational infrastructure that we maintain could result in similar consequences. Any of these problems or outages could create potential material liability and exposure from litigation and investigations, could result in a failure to meet our service level agreements, and could decrease customer satisfaction, harming our business.”

Annual report 2025A · The company itself

“These connections depend upon the secure and efficient operation of internet service providers, internet exchange point operators, and internet backbone service providers. Such providers have encountered periodic operational problems or experienced outages in the past beyond our scope of control and may continue to encounter problems and outages or may choose to discontinue their service. If the providers that our connections depend upon do not protect, maintain, improve, and reinvest in their networks or present inconsistent, incorrect, or invalid data regarding routing information or DNS responses through their networks, our business could be harmed.”

Annual report 2025A · The company itself

“We also perform the Root Zone Maintainer function under an agreement with ICANN for the core of the internet’s DNS and operate two of the thirteen root zone servers that contain authoritative data for the top of the DNS hierarchy. Our global constellation of DNS servers provides internet protocol (“IP”) address information in response to queries, enabling the use of browsers, email systems, and other systems on the internet.”

Annual report 2025A · The company itself

“Third-party contractors, including cloud-based service providers, also may experience security breaches involving the storage and transmission of proprietary information. If users gain improper access to our data repositories, they may be able to steal, publish, delete or modify confidential third-party information that is stored or transmitted on our networks.”

Annual report 2025A · The company itself

“Our operations depend on our ability, as well as that of third-party service providers to whom we have outsourced several critical functions, to protect data centers, whether in cloud or dedicated environments, and related technology against damage from hardware failure, fire, flood, power loss, telecommunications failure, impacts of terrorism, breaches in security (such as the actions of computer hackers), natural disasters, or other disasters. Certain of our facilities are located in areas that could be impacted by coastal flooding, earthquakes or other disasters.”

Annual report 2025A · The company itself

“A technology vendor that provides critical services, such as cloud-based infrastructure, creates a single point of failure resulting in pricing or contract lock-in risk. As our operations migrate to a cloud-based information technology infrastructure and delivery model (distributed computing infrastructure platform for business), systems are consolidated into a smaller number of large infrastructure suppliers.”

Annual report 2025A · The company itself

“Table of Contents Information Technology Technology Our information technology systems and adoption of cloud computing are fundamental to our success. They are used for the storage, processing, access, and delivery of the data that forms the foundation of our business and the development and delivery of the solutions we provide to our customers.”

Annual report 2025A · The company itself

“We are modernizing and advancing the capabilities of our core solutions using cloud technology and advanced analytical methods including machine learning and artificial intelligence ("AI") while also augmenting our solutions through the addition of new data assets and sources.”

Annual report 2025A · The company itself

“Vitec levererar i allt större utsträckning sina system som SaaS-tjänster vilket innebär att Vitec äger ansvaret för att systemen är i funktion. Det ställer höga krav på stabilitet av systemens drift och support. En allvarlig störning i Vitecs datacenter skulle drabba många verksamheter.”

Annual report 2024A · The company itself

“Vi utvecklar och levererar standardprogram som stödjer centrala funktioner i samhället. Våra lösningar används inom en rad branscher, såsom energi, försäkring, handel, hotell, trossamfund och sjukvård.”

Annual report 2024A · The company itself

“Risks Related to Our Business and Industry Any slowdown or failure in our technical operations infrastructure or applications may subject us to liabilities and adversely affect our reputation and operating results. We have experienced significant growth in the number of users, transactions, and data that our operations infrastructure supports. If we do not accurately predict our infrastructure requirements or fail to adapt and scale, we may see an increase in service outages or delays, or significant increases in operating costs, which may adversely affect our business and operating results.”

Annual report 2026A · The company itself

“We have experienced, and may in the future experience, defects, system disruptions, outages, and other performance problems, including the failure of our applications to perform properly. These problems may be caused by a variety of factors, including infrastructure and software or code changes, vendor issues, software and system defects, human error, viruses, worms, security attacks (internal and external), fraud, spikes in customer usage, and denial of service issues. For example, in July 2025, we identified and subsequently remediated an issue impacting reporting from high-volume data sources in the tenants of certain customers that may have yielded incomplete queries without displaying an error message.”

Annual report 2026A · The company itself

“We depend on data centers and other infrastructure operated by third parties, as well as internet availability, and any disruption in these operations could adversely affect our business and operating results. We host our applications and serve our customers and users globally from data centers operated by third parties and rely upon third-party vendors to operate certain aspects of our services. We control our applications and data, but we do not control the facilities, operations, and physical security of these locations.”

Annual report 2026A · The company itself

“Strategic partnerships with public cloud providers, including Amazon Web Services, Inc. (“AWS”) and Google Cloud, allow our customers to innovate with modern cloud infrastructure services while reducing their committed spend on cloud.”

Annual report 2026A · The company itself

“For example, we leverage software and services for development tools and to deliver applications from many third-party suppliers including AWS and Google Cloud.”

Annual report 2026A · The company itself

“We also lease office space in various locations, including North America, Central America, Europe, and Asia Pacific, and data center capacity throughout the U.S. and Europe.”

Annual report 2026A · The company itself

“Unreliable or inefficient restaurant technology or the failure to successfully implement technology initiatives could adversely impact our business and the overall consumer experience. We and our Concepts’ franchisees rely heavily on IT Systems to efficiently operate our restaurants and drive the customer experience, sales growth and margin improvement, as well as to gather and leverage data to enhance restaurant operations and improve the customer experience. These IT Systems, including our proprietary Byte By Yum! platform and third-party technology systems, are subject to damage, interruption or failure due to theft, fire, power outages, telecommunications failure, computer viruses, employee misuse, security breaches, malicious cyber-attacks including the introduction of malware or ransomware or other disruptive behavior by hackers, or other catastrophic events.”

Annual report 2025A · The company itself

“These digital ordering and payment platforms used in connection with our restaurants also could be damaged or interrupted by power loss, technological failures, user errors, cyber-attacks, other forms of sabotage, inclement weather or natural disasters and have experienced, and may continue to experience, interruptions limiting or delaying customers’ ability to order through such platforms and potentially making customers less inclined to return to such platforms. The rapid acceleration in growth of digital sales has placed additional stress on those platforms that are more reliant upon legacy technology, which may result in more frequent and potentially more severe interruptions.”

Annual report 2025A · The company itself

“If we experience a significant disruption in our IT systems, our business, reputation, and operating results could be adversely affected. Our business processes depend on our IT systems, and the IT systems and processes of third parties to provide offerings, maintain financial records, retain sensitive data such as intellectual property, proprietary business information, and data related to customers, suppliers, and business partners, process orders, manage inventory, process shipments to customers and operate other critical functions. Disruptions to our IT systems from system failures, shutdowns, implementation of new operational systems or software or upgrades to existing systems and software, and other events, including disruptions at our cloud computing, server, systems, and other third-party IT service providers, could interfere with our operations, interrupt order processing and shipments, damage customer and business partner relationships, and negatively impact our reputation.”

Annual report 2025A · The company itself

“Adverse economic conditions or reduced and/or changes in the timing and amount of information technology spending may negatively impact our business. General disruption of financial markets and a related general economic downturn or uncertainty could adversely affect our business and financial condition through a reduction in demand for our offerings by our customers.”

Annual report 2025A · The company itself

“We have outsourced portions of certain business operations, such as repair, distribution, engineering services, and information technology services and may outsource additional business operations, which limits our control over these business operations and exposes us to additional risk as a result of the actions of our outsource partners. We are not able to directly control certain business operations that we outsource. Our outsource partners may not prioritize our business over that of their other customers and they may not meet our desired level of service, cost reductions, or other metrics.”

Annual report 2025A · The company itself

“Challenges integrating, transitioning and implementing a new enterprise resource planning ("ERP") system have adversely affected our business and operations, and may in the future have further adverse effects. As a result of technology initiatives, changes in our system platforms and the ongoing integration of business acquisitions, we have been consolidating and integrating the ERP systems that we operate. ERP consolidation and integration programs are highly complex, require substantial management and financial resources, and may adversely affect our ability to process and/or fulfill orders, provide customer service, send and collect invoices, manage our contracts, manage our distribution network, provide financial information or otherwise run our business, in a timely manner or at all, or without incurring additional expenses or disruption.”

Annual report 2025A · The company itself

“The current transition of our ERP system is a multi-year implementation process; transitioning to new systems, integrating new systems into current systems or any disruptions or malfunctions (including from circumstances beyond our control) affecting our information systems could cause critical information upon which we rely to be delayed, unreliable, corrupted, insufficient or inaccessible. Costs and risks inherent in this transition may include disruptions to business continuity, administrative and technical problems, interruptions or delays in sales processes, manufacturing or R&D processes, expenditure overruns, payment delays, and data migration issues. If we do not properly address or mitigate these issues, they could result in increased costs and diversion of resources, negatively impacting our operating results and ability to effectively manage our business.”

Annual report 2025A · The company itself

“We depend on sophisticated information technology and infrastructure. We rely on the efficient and uninterrupted operation of complex information technology systems to manage our operations, to process, transmit and store electronic and financial information, and to comply with regulatory, legal and tax requirements. We also depend on our information technology infrastructure for digital marketing activities and for electronic communications among our personnel, customers and suppliers around the world.”

Annual report 2025A · The company itself

“Table of Contents In addition, we depend on third parties and applications on virtualized (cloud) infrastructure to operate and support our information systems and are currently in the process of a multi-year implementation process to update our enterprise resource planning (ERP) system to a new fully cloud-based system. These third parties include large established vendors, as well as many small, privately owned companies.”

Annual report 2025A · The company itself

“Gemini’s efficiencies strengthen synergies between Ocean, Logistics & Services and Terminals, reinforcing our Integrator strategy and enabling seamless flows across the segments.”

Annual report 2025A · The company itself

“Technological developments may materially affect the cost and use of technology by our clients and, in the case of cloud, AI and data solutions, could affect the nature of how we generate revenue. Some of these technological developments have reduced and replaced, in whole or in part, some of our historical solutions and services and will continue to do so in the future.”

Annual report 2025A · The company itself

“Extended disruptions of electricity, other public utilities or network or cloud services at our facilities or in the areas where our people are working remotely, as well as physical infrastructure damage to, system failures at, cyberattacks on, or security incidents involving, our facilities or systems, or those of our ecosystem partners, suppliers or clients, could also adversely affect our ability to conduct our business and serve our clients.”

Annual report 2025A · The company itself

“Further, we rely on third-party software, hardware, data and other intellectual property in providing some of our solutions and services. If we lose our ability to continue using any such software, hardware, data or intellectual property for any reason, including because it is found to infringe the rights of others, we will need to obtain substitutes or seek alternative means of obtaining the technology necessary to continue to provide such solutions and services. Our inability to replace such software, hardware, data or intellectual property effectively or in a timely and cost-effective manner could materially adversely affect our results of operations.”

Annual report 2025A · The company itself

“Business Overview Accenture is a leading solutions and global professional services company that helps the world’s leading enterprises reinvent by building their digital core and unleashing the power of AI to create value at speed across the enterprise, bringing together the talent of our approximately 779,000 people, our proprietary assets and platforms, and deep ecosystem relationships.”

Annual report 2025A · The company itself

“Our business relies on technology hardware, software, cloud services, infrastructure, networks and systems (collectively, IT Systems). We own and manage some IT Systems but also rely on critical third-party IT Systems, products and services. In the ordinary course of business, we and various third-party providers and business partners process and maintain sensitive data, including personal information about workers, customers and others, as well as intellectual property and proprietary or confidential information relating to our business and that of our customers and business partners (collectively, Confidential Data).”

Annual report 2025A · The company itself

“In addition, we outsource significant portions of our information technology and other administrative functions. Since information technology is critical to our operations, any failure to perform on the part of our information technology providers could impair our ability to operate effectively.”

Annual report 2025A · The company itself

“Our business relies on our data systems, traffic measurement systems, billing systems, ordering processes and other operational and financial reporting and control systems.”

Annual report 2025A · The company itself

“We also rely on third-party software for certain essential operational services and a failure or disruption in these services could materially and adversely affect our ability to manage our business effectively.”

Annual report 2025A · The company itself

“We utilize third-party software, services and other technology to operate critical functions of our business, including the integration of certain of these technologies into our network, products and services, and in some cases our products and services include features designed to enable our customers and partners to write and execute their own software within our platform. If these software, services, or other technology become unavailable, malfunction or contain vulnerabilities, our expenses could increase and our ability to operate our network, provide our products and our results of operations could be impaired until equivalent software, technology, or services are purchased or developed or any identified vulnerabilities or malfunctioning are remedied.”

Annual report 2025A · The company itself

“We have observed the following trends related to our revenue in recent years: •Increased sales of our security solutions, led by application security solutions and our microsegmentation solutions, and increased sales of our cloud computing solutions, attributable to enhanced services on our compute platform, and growth in our Cloud Infrastructure Services, have made a significant contribution to revenue growth. Our security and cloud computing solutions continue to contribute to a large portion of revenue. We plan to continue to invest in these areas with a focus on higher growth security products and Cloud Infrastructure Services to further advance our product portfolios and sales capabilities. •Traffic growth on our network has improved, but remains moderated as compared to prior years.”

Annual report 2025A · The company itself

“We have been able to mitigate some of the negative impacts to our revenue growth rates by upselling incremental solutions to our existing customers.”

Annual report 2025A · The company itself

“We continue to improve our internal-use software and remain disciplined in managing our hardware deployments, which enables us to use servers more efficiently. We will need to continue to effectively manage our co-location costs to maintain or improve current levels of profitability.”

Annual report 2025A · The company itself

“While we have previously experienced increased costs from third-party cloud providers, we have been able to manage those costs by migrating to our own compute solutions. We will need to continue to effectively manage our network build-out and supporting service costs in an effort to control costs.”

Annual report 2025A · The company itself

“As of December 31, 2025, our massively distributed global infrastructure was comprised of core and distributed compute sites, more than 4,300 edge points-of-presence in over 130 countries and approximately 700 cities, and our underlying global network integrated with roughly 1,200 network partners. With this scale and distribution, Akamai has visibility and insight into traffic volumes, congestion, attack patterns, vulnerabilities and other activities across the internet's complex intersections of networks and systems.”

Annual report 2025A · The company itself

“Revenue We primarily derive revenue from the sale of services to customers pursuant to contracts having terms of one year or longer, which allows us to have a consistent and predictable base level of revenue. Services included in our contracts consist of security solutions, the delivery of content, applications and software over the internet, cloud computing solutions and professional services.”

Annual report 2025A · The company itself

“The increase in cloud computing solutions revenue in 2025 as compared to 2024 was due to growth in Cloud Infrastructure Services, which includes compute, storage, cloud-native and networking solutions, along with the Akamai EdgeWorkers serverless products and partner solutions running on our compute platform.”

Annual report 2025A · The company itself

“In addition, risks associated with information technology systems failures or network disruptions, including risks associated with upgrading our systems or in successfully integrating information technology and other systems in connection with the integration of businesses we acquire, or vulnerabilities in our third-party service providers’ systems, could disrupt our operations by impeding our processing of transactions, financial reporting and our ability to protect our customer or company information, which could adversely affect our business and results of operations. Additionally, certain information technology systems we employ increasingly integrate AI, which has the potential to result in bias, miscalculations, data errors, intellectual property infringement and other unintended consequences. We face increased information technology security and fraud risks due to the ability of employees to work remotely, which may create additional information security vulnerabilities and/or magnify the impact of any disruption in information technology systems.”

Annual report 2025A · The company itself

“Dependency on the maintenance and security of the Internet infrastructure •Some of our technology industry tenants and venture investment portfolio companies depend on continued and unimpeded access to the Internet by users of their products and services, as well as access to mobile networks. Internet service providers and mobile network operators may be able to block, degrade, or charge additional fees to these tenants, venture investment portfolio companies, or users of their products and services. •The Internet has experienced, and is likely to continue to experience, outages and other delays. These outages and delays, as well as problems caused by cyberattacks and computer malware, viruses, worms, and similar programs, may materially affect the ability of our technology industry tenants and venture investment portfolio companies to conduct business.”

Annual report 2025A · The company itself

“•Reliance on a limited number of cloud provider vendors may result in detrimental impacts on or halts of operations during instances of network outages or interruptions. •Security breaches or network attacks may delay or interrupt the services provided by our technology industry tenants and venture investment portfolio companies and could harm their reputations or subject them to significant liability.”

Annual report 2025A · The company itself

“Idag stöds cirka 7 000 fartyg av StormGeos programvara och digitala tjänster i sin dagliga verksamhet. Det tekniska teamet på StormGeo stödjer anslutningslösningar för all Alfa Laval-utrustning ombord på fartyg.”

Annual report 2024A · The company itself

“En starkare digital kundresa En betydande minskning av kostnaden för dataöverföring från fartyg till land och besättningarnas krav på att förbli uppkopplade har till slut skapat förutsättningar som stöder överföring av högfrekvensdata (HF-data) från fartyg till land. För att förbättra operativ praxis ombord med dessa HF-data har vi släppt första generationen av Alfa Laval Marine Customer Platform för ytterligare två produkter, ballastvatten och scrubbers. Den bygger på samma filosofi som den mycket framgångsrika Framo-kundportalen, som idag har 2 400 unika fartyg på plattformen. Dessa portaler inriktar sig på att hantera skick och service för de fysiska tillgångarna ombord på fartyg, och har byggts på en öppen arkitektur för att tillåta att andra leverantörer ansluter sig till vår plattform och på samma sätt tillåter våra data att användas på andra plattformar.”

Annual report 2024A · The company itself

“Usage of online and hosted technology platforms by us, our customers, and suppliers, including remote working, teledentistry, and new or expanded use of online service platforms, products, and solutions such as doctor, consumer, and patient apps have increased the demands on and risks to our IT systems and personnel.”

Annual report 2025A · The company itself

“Software applications and products containing software may contain errors or defects, especially when first introduced or released. The discovery of a defect, error, or security vulnerability in our products, software applications or IT systems, incompatibility with customers’ computer operating systems and hardware configurations with a new release or upgraded version or the failure of our products or primary IT systems, that we are unable to timely cure, may cause adverse consequences.”

Annual report 2025A · The company itself

“Products in our Systems and Services segment, such as our iTero intraoral scanners, are subject to software and hardware risks that, if improperly managed, could have a material adverse impact on our business and financial results. Our Systems and Services segment is subject to software and hardware risks related to the manufacturing, design, quality and safety of our complex, global installed base of iTero intraoral scanners, which are continually updated to add, expand or improve features with new hardware or software, to integrate new or existing software or other components manufactured by third parties, or to provide repair or replacement parts, any of which may contain errors or exhibit failures, especially when products are first introduced.”

Annual report 2025A · The company itself

“We rely on the efficient, uninterrupted, and secure operation of complex IT systems and are dependent on key third-party software embedded in IT systems as well as third-party hosted IT systems to support our operations, including third-party cloud platforms. To effectively manage and improve our operations, our IT systems and applications require an ongoing commitment of significant expenditures and resources to maintain, protect, upgrade, enhance, and restore existing systems and develop new systems to keep pace with continuing changes in information processing technology, evolving industry and regulatory standards, and changing customer preferences.”

Annual report 2025A · The company itself

“Additionally, the third-party software integrated into or interoperable with our scanners routinely reach end of life, and as a consequence, certain applications and models may be exposed to additional vulnerabilities, including security risks, errors, and malfunctions that may be irreparable or difficult to repair. We may not timely and adequately remediate or implement corrective measures for such failures, including due to reliance on third-party providers or suppliers.”

Annual report 2025A · The company itself

“Strengthening of procurement and IT processes and capabilities to exploit economies of scale and streamline the supplier landscape continue in 2026, and ALK will increasingly invest in digital solutions and AI with multiple projects being initiated across functional areas.”

Annual report 2025A · The company itself

“End- users are continually adopting more advanced technologies in their facilities and homes, accelerated by the increasing adoption of IoT technologies and connected devices, which will require us to devote significant effort and resources to the development, maintenance and enhancement of our IT Systems (as defined below) and other infrastructure required to support and/or enhance the functionality of our electronic products and solutions.”

Annual report 2025A · The company itself

“Sold under leading brands like Bricard, AXA, CISA, Falcon, Gainsborough®, Schlage and SimonsVoss; and •Services and software: Our Stanley Access Technologies business offers extensive planned inspection, maintenance and repair services for its automatic entrance solutions throughout the U.S. and Canada. We offer ongoing aftermarket services and design and installation offerings in select locations. Additionally, we offer software as a service ("SaaS") offerings throughout the U.S. and internationally, including access control, platform integration and workforce management solutions through brands like Interflex, Yonomi® and Zentra® among others.”

Annual report 2025A · The company itself

“Google Cloud helps customers build for the future, improve productivity, reduce costs, and unlock new growth engines.”

Annual report 2025A · The company itself

“We may also face margin compression from an increase in the mix of lower-margin products and services, in particular from the continued expansion of our business into new fields, including products and services such as Google Cloud, our devices, and consumer subscription products, as well as significant investments in Other Bets.”

Annual report 2025A · The company itself

“•Data and Analytics: enables customers to migrate, clean, prepare, and feed data into their models.”

Annual report 2025A · The company itself

“As with all information technology systems, our systems may be susceptible to damage, disruption, information loss, or shutdown due to a variety of factors including power outages, failures during the process of upgrading or replacing software, hardware failures, cyber-attacks (e.g., phishing, ransomware, computer viruses), natural disasters, telecommunications failures, user errors, unauthorized access, and malicious or accidental destruction, or catastrophic events. Infrastructure changes, including migration to new data centers or cloud solutions, updates or patches to our core software infrastructure, and changes in our data processing pipelines could lead to significant business disruptions due to human error in our deployment processes or third-party software errors.”

Annual report 2026A · The company itself

“Such examinations can cover a broad scope of the insurance subsidiary’s operations, including the financial strength of the insurance subsidiary; sales, marketing and claims handling practices; risk management; capital and liquidity management; and information technology operations (including emerging technology risks).”

Annual report 2025A · The company itself

“Third parties we rely upon to provide certain business and administrative services on our behalf may not perform as anticipated, which could have an adverse effect on our business and results of operations. We have used and will continue to use outsourcing strategies and third-party providers to perform operational, middle- and back-office processes and deliver contracted services in a broad range of areas, including, but not limited to, administration or servicing of certain policies and contracts, finance, actuarial, information technology services related to infrastructure, and investment advisory and management services.”

Annual report 2025A · The company itself

“In addition, we rely upon third parties to implement technological enhancements which may be complex and, have in the past and may in the future, require significant time and resource prioritization and result in inefficiencies and delays in meeting operational and financial targets. These risks may impair our ability to achieve anticipated improvements in our businesses, may disrupt or otherwise harm our operations which could materially and adversely affect our businesses, financial condition and operations.”

Annual report 2025A · The company itself

“Technology is an integral part of our business and operations, and any failure or disruption of the technology or related systems we implement, including as a result of a cyber incident, could significantly limit our ability to manage and operate our business effectively and efficiently, which, in turn, could cause our business and competitive position to suffer and adversely affect our results of operations. We use technology systems to, among other things, obtain meter readings, bill customers, process orders, provide customer service, and manage certain plant operations and construction projects, including systems to support environmental compliance, provide for the safety of the water distributed to customers, create and manage our financial records and other operational data, track assets, remotely monitor our plants and facilities, and manage human resources, supply chain, inventory, and accounts receivable collections.”

Annual report 2025A · The company itself

“If we experience a sustained interruption to our telecommunications or data processing systems, or other failure in operational execution, it could harm our business. Operating errors and system or network interruptions could delay and disrupt our operations.”

Annual report 2025A · The company itself

“We rely on third-party service providers and vendors for certain communications, technology and business functions and other services, and we face the risk of their operational failure (including, without limitation, loss of staff due to widespread illness, failure caused by an inaccuracy, untimeliness or other deficiency in data reporting), technical or security failures, termination or capacity constraints of any of the clearing agents, exchanges, clearing houses or other third-party service providers that we use to facilitate or are component providers to our securities transactions and other product manufacturing and distribution activities.”

Annual report 2025A · The company itself

“Our information technology systems and those of our third-party service providers and strategic partners may also be susceptible to damage, disruptions or shutdowns due to power outages, hardware failures, telecommunication failures, user errors, catastrophes or other unforeseen events. A prolonged disruption in the information technology systems that involve our internal communications or our interactions with customers or suppliers could result in the loss of sales and customers and significant incremental costs, which could adversely affect our business.”

Annual report 2025A · The company itself

“Genom att utveckla specialanpassade system för inköp och logistik, och genom ett kompromisslöst fokus på detaljer, har vi kunnat stärka vårt kunderbjudande och växa lönsamt.”

Annual report 2024A · The company itself

“Such failures or disruptions can adversely impact the Company’s business by, among other things, preventing access to the Company’s online services, interfering with customer transactions or impeding the manufacturing and shipping of the Company’s products.”

Annual report 2025A · The company itself

“Cloud Services The Company’s cloud services store and keep customers’ content up-to-date and available across multiple Apple devices and Windows personal computers.”

Annual report 2025A · The company itself

“We rely on information technology systems to securely process, transmit, store and protect the confidential and electronic information, financial data and proprietary models that are critical to our business.”

Annual report 2025A · The company itself

“We rely on certain third party technology service providers and other service providers, notably major cloud providers, Software-as-a-Service (or “SaaS”) solutions, and on-premise software, including proprietary and open source solutions. We also outsource certain business processes to third parties and may continue do so in the future.”

Annual report 2025A · The company itself

“Additionally, a significant portion of the Company’s technology environment used to support significant business functions consists of legacy systems, some of which were implemented many years ago, are highly customized, or are integrated with newer technologies. The instability of aging legacy systems could diminish performance and elevate the risk of system failures, reduce compatibility with modern software, and impact growth initiatives.”

Annual report 2025A · The company itself

“Technological Risks The Company’s inability to successfully upgrade its information and operational technology systems could have a material and adverse effect on the Company’s business, financial condition, and operational results. The Company is currently upgrading its technology platforms, including certain ERP systems, with these upgrades expected to occur in phases over the next several years.”

Annual report 2025A · The company itself

“We are also highly dependent upon the technology platforms within which our data is stored and analyzed, and any disruption in the services provided by such platforms, whether temporary or permanent, could have a material adverse effect on our ability to effectively continue to operate our business without interruption.”

Annual report 2025A · The company itself

“We face operational risk from errors made in the execution, confirmation or settlement of transactions. We also face operational risk from transactions and key data not being properly recorded, evaluated or accounted for in our funds. In particular, our Credit Group, and to a lesser extent our Private Equity Group, are highly dependent on our ability to process and evaluate, on a daily basis, transactions across markets and geographies in a time-sensitive, efficient and accurate manner. Consequently, we rely heavily on our financial, accounting and other data processing systems.”

Annual report 2025A · The company itself

“In addition, we operate in a business that is highly dependent on information systems and technology. Our information systems and technology may not continue to be able to accommodate our growth, particularly our growth internationally, and the cost of maintaining our information systems and technology may increase from its current level, including due to existing and anticipated regulations. Such a failure to accommodate growth, or an increase in costs related to our information systems and technology, could have a material adverse effect on our business and results of operations.”

Annual report 2025A · The company itself

“We also rely on a concentrated set of vendors and third-party service providers for certain aspects of our businesses, including for certain information systems, technology and administration of our funds and compliance matters, such as accounting, investor services, investment operations, banking, software development and maintenance and legal and regulatory compliance. Our ability to conduct our business may be adversely affected if one or more key vendors or third-party service providers fails to meet our expectations or if we otherwise become unable to procure their services on commercially reasonable terms.”

Annual report 2025A · The company itself

“Throughout the past year, we have provided business critical solutions and services to over 500 large organisations, both new ones that have placed their trust in us as well as long-standing partners who continue to value our expertise.”

Annual report 2024A · The company itself

“Cloud provides infrastructure hosting across hybrid environments. The offering includes consulting, outsourcing, and end-to-end cloud services. In addition to market-leading cloud solutions from Microsoft, Arribatec Cloud operates its own public cloud, hosted in Norwegian data centres, to support the use cases where compliance and local sovereignty and control is a key requirement.”

Annual report 2024A · The company itself

“These third parties face their own technology, operating, business and economic risks, and any significant failures by them, including the improper use or disclosure of our confidential client, employee or company information, could cause harm to our business and reputation. An interruption in or the cessation of service by any service provider as a result of systems failures, cybersecurity incidents, capacity constraints, financial difficulties, or for any other reason could disrupt our operations, impact our ability to offer certain products and services, and result in contractual or regulatory penalties, liability claims from clients or employees, damage to our reputation, and harm to our business.”

Annual report 2025A · The company itself

“Additionally, the effort to gain technological expertise, make use of data analytics, and develop new technologies in our business requires us to incur significant expenses.”

Annual report 2025A · The company itself

“In some cases, we depend on key third-party vendors and partners to provide technology and other support for our strategic initiatives. If these third parties fail to perform their obligations or cease to work with us, our ability to execute on our strategic initiatives could be adversely affected.”

Annual report 2025A · The company itself

“While we maintain some of our critical information technology systems, we are dependent on third-party providers of information technology systems and services, as well as other non-IT services, to meet the needs of our business and our clients around the world. As we do not fully control the actions of these third parties, we are subject to the risk that their decisions, actions, or inactions may adversely impact us, and replacing these service providers could create significant delay and expense.”

Annual report 2025A · The company itself

“The cost and operational consequences of implementing, maintaining and enhancing appropriate technical measures is high. Given the continuously evolving cyber threat landscape, it will become increasingly difficult to detect, defend against and remediate cybersecurity incidents and data breaches.”

Annual report 2025A · The company itself

“Operating expense, as reported $ 1,676 $ 1,363 Acquisition integration (122) (84) Workforce and lease termination related charges (13) (10) Levelized foreign currency translation — 14 Operating expense, as adjusted $ 1,541 $ 1,283 Reported operating expense ratios 13.8 % 13.7 % Adjusted operating expense ratios 12.7 % 12.9 % Reported revenues $ 12,192 $ 9,934 Adjusted revenues - see page 37 $ 12,168 $ 9,941 The $313 million increase in operating expense in 2025 compared to 2024, was primarily due to expenses associated with the acquisitions completed in the twelve-month period ended December 31, 2025 - $233 million, additional investments in technology, partially offset by lesser real estate costs - $39 million in the aggregate, acquisition integration costs - $38 million, and workforce and lease termination related charges - $3 million.”

Annual report 2025A · The company itself

“Leases We have operating leases primarily related to branch facilities, data centers, sales offices, and agent locations, automobiles and office equipment. Many of our leases include both lease (fixed rent payments) and non-lease components (common-area or other maintenance costs) which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases.”

Annual report 2025A · The company itself

“We have from time to time experienced operational resiliency issues, including the unavailability of technology systems upon which our clients rely. Such failures could result in loss of business and adversely affect our financial condition and results of operations.”

Annual report 2025A · The company itself

“We are dependent on vendors and other third parties to maintain reliable and secure network systems that provide adequate speed and data capacity. For example, we utilize third-party cloud service providers in connection with certain key aspects of our business and operations, and any disruption of, or interference with, our use of such cloud services could have a material adverse impact on our business and operations.”

Annual report 2025A · The company itself

“The success of our business depends on our ability to maintain effective, secure and reliable technology systems and infrastructure and to modernize them to support current and new clients and grow in an efficient and cost-effective manner. Some of the Company’s technology systems and software are legacy-type systems that are less efficient and require an ongoing commitment of significant resources to maintain or upgrade to current standards, including business continuity procedures.”

Annual report 2025A · The company itself

“We have also migrated many of our systems and applications to the cloud, which is key to our technology strategy.”

Annual report 2025A · The company itself

“Our Information Security Management System and operations comply with all applicable laws, including the GDPR and adhere to the ISO 27001 standard.”

Annual report 2024A · The company itself

“Our adherence to GDPR, along with our ISO/IEC 27001 certification, ensures we consider the perspective of consumers and end-users in our operations across the Nordic and Baltic regions. This compliance and certification demonstrates our dedication to maintaining the highest standards of information security and data protection.”

Annual report 2024A · The company itself

“We are a supplier of IT infrastructure, delivering hardware and software from leading global vendors, and providing consulting and technical services to support our customers with the design, implementation and operation of their IT environments. We help our customers prolong the life of their various IT equipment, such as laptops, computers, mobile phones and tablets, by selling spare parts, preparing equipment for reuse and selling refurbished products.”

Annual report 2024A · The company itself

“Atea is the leading provider of IT infrastructure and related services for businesses and public-sector organizations in the Nordic and Baltic regions.”

Annual report 2024A · The company itself

“Atea is the leading provider of IT infrastructure and related services for businesses and public-sector organizations in the Nordic and Baltic regions.”

Annual report 2024A · The company itself

“Atea’s core business model focuses on providing IT infrastructure and services to customers in both the private and public sector. Robust data security practices are essential to our service delivery and overall business strategy.”

Annual report 2024A · The company itself

“Atea’s core business model focuses on providing IT infrastructure and services to customers in both the private and public sector. Robust data security practices are essential to our service delivery and overall business strategy.”

Annual report 2024A · The company itself

“The Company uses Company-owned information technology and technology hosted by third parties to support critical functions including scheduling and dispatching of service technicians, automated meter reading systems, customer care and billing, operational plant logistics, management reporting, and external financial reporting. The failure of these or other similarly important technologies, or the Company’s inability to have these technologies supported, updated, expanded, or integrated into other technologies, could hinder its business operations and adversely impact its financial condition and results of operations.”

Annual report 2025A · The company itself

“Third parties that maintain certain of our confidential and proprietary information could experience a cybersecurity incident We rely on third parties to provide or maintain some of our IT systems, data centers and related services and do not exercise direct control over these systems. Despite the implementation of security measures at third party locations, these IT systems, data centers and cloud services are also vulnerable to security breaches or other disruptions.”

Annual report 2024A · The company itself

“If there is a substantial increase of new customers in a small window, we may have difficulty deploying these solutions in a way that meets market demand. Increases in customer demand may require us to change our information technology (“IT”) infrastructure, expand our IT infrastructure or replace our IT infrastructure entirely. Scaling and adapting our IT infrastructure is likely to be complex and require additional technical expertise. If we are required to make any changes to our IT infrastructure, we may incur substantial costs and experience delays or interruptions in our solutions.”

Annual report 2025A · The company itself

“Lack of availability of this infrastructure could result from technical failures, natural disasters, fraud or security attacks that we cannot predict or prevent. Interruptions in our services, or loss or corruption of digital evidence, may reduce our revenue, require us to issue credits or pay penalties, expose us to litigation, lead customers to terminate their subscriptions, and adversely affect our renewal rates and ability to attract new customers.”

Annual report 2025A · The company itself

“We rely on third party cloud service providers located in the United States and other countries to deliver our cloud services.”

Annual report 2025A · The company itself

“Table of Contents We have devoted, and continue to devote, significant resources to develop and deploy SaaS solutions to a large number of customers.”

Annual report 2025A · The company itself

“Additionally, we have implemented self-service solutions that allows customers to view status and manage their debts, altogether while facilitating communication between us and our consumers.”

Annual report 2024A · The company itself

“Samtidigt innebär en ökad IT-mognad att fler företag rör sig mot molnbaserade lösningar, där tillväxten inom molntjänster förväntas ligga på 14,1%. Denna utveckling speglar en marknad där flexibilitet och skalbarhet blir allt viktigare.”

Annual report 2024A · The company itself

“För att framtidssäkra verksamheter och skapa en snabbrörlig infrastruktur hjälper B3 många organisationer med överflyttning till molnet, vilket ger effektivare samarbetsytor, enhetligt arbetssätt, ökad säkerhet och lägre serverkostnader. På samma sätt är fördelarna många med att bli mer datadriven.”

Annual report 2024A · The company itself

“Affärsidén är att hjälpa företag och organisationer att effektivisera sin IT. Bolaget etablerar en specialistgrupp av seniora konsulter med fokus på databaser, IT-arkitektur och systemutveckling.”

Annual report 2024A · The company itself

“Under året har stor vikt lagts på att förbereda införandet av nytt affärssystem, som kommer implementeras under 2025.”

Annual report 2024A · The company itself

“Ett viktigt steg har varit att starta konsolidering av dotterbolagen i gemensamma affärssystemplattformar (ERP) som är grupperade efter regioner. På så vis effektiviseras inköp, logistik och försäljning samt drift av affärssystemen.”

Annual report 2024A · The company itself

“Även IT-händelser eller cyberincidenter hos tredje part, som leverantörer eller kunder, kan inverka på koncernens leverans- och intjänings förmåga För att säkerställa stabila IT-miljöer och förebygga incidenter så har Berner Industrier under 2023 påbörjat en outsourcing av stöd och IT-behov. Behoven ikoncernens dotterbolag skiljer sig åt från bolag till bolag och från land till land varför en extern lösning av bassupporten funnits som en framtida lösning när kritisk massa inte finns.”

Annual report 2024A · The company itself

“För att ytterligare effektivisera och skapa skalbarhet har vi investerat i IT-infrastruktur och automation. Vi har också ökat samordningen av upphandlingar och inköp för att dra nytta av vår skala.”

Annual report 2024A · The company itself

“Intäktssynergier genom sortimentsdelning mellan affärsområdena samt kostnadssynergier genom Gruppgemensamma avtal. Mellan plattformarna inom respektive affärsområde uppnås bland annat intäktssynergier genom sortimentsdelning och kostnadssynergier genom gemensamma inköp, lagerkonsolidering och gemensamma IT-system.”

Annual report 2024A · The company itself

“Lösning Biosero, en leverantör för laboratorieautomationslösningar för vetenskapliga upptäckter, som utvecklar Green Button Go (GBG) Scheduler, en mjukvara som schemalägger och utför vetenskapliga processer för olika integrerade plattformar. GBG spelade en avgörande roll i att hjälpa Astellas forskare med att schemalägga olika processer, samt med att lyckas integrera instrument från tredje part under ett gemensamt hårdvaruagnostiskt system.”

Annual report 2024A · The company itself

“We rely on information technology systems, some of which are provided and/or managed by third parties, to process, transmit and store electronic information (including sensitive data such as confidential business information and personally identifiable data relating to employees, customers, other business partners and patients), and to manage or support a variety of critical business processes and activities (such as receiving and fulfilling orders, billing, collecting and making payments, shipping products, providing services and support to customers and fulfilling contractual obligations).”

Annual report unknown yearA · The company itself

“A prolonged global failure of cloud services provided to us could result in cascading systems failures.”

Annual report 2025A · The company itself

“We are reliant on other third-party service providers for certain technology platforms that facilitate the continued operation of our business, including cloud-based services. We generally have less control over the delivery of such third-party services, and as a result, may face disruptions to our ability to operate our business as a result of interruptions of such services.”

Annual report 2025A · The company itself

“We are dependent on connectivity and mobile systems throughout the world. Disruptions in connectivity could materially adversely affect our business and results of operations.”

Annual report 2025A · The company itself

“We rely on third-party computer systems and third-party service providers, including GDSs and computerized central reservation systems of the accommodation, rental car, and airline industries in connection with providing some of our services. Any damage to, breach of, or interruption in these third-party services and systems or deterioration in their performance could prevent us from booking related reservations and have an adverse effect on our business, brands, and results of operations.”

Annual report 2025A · The company itself

“Additionally, if these third parties experience service disruptions or if they cease operations, consumers and travel service providers could have difficulty making or receiving payments, which could adversely impact our reputation, business, and results of operations.”

Annual report 2025A · The company itself

“Our business relies on a global supply chain of third-party services providers and we are exposed to risks because we rely on the resilience, security, and legal compliance of their products and services.”

Annual report 2025A · The company itself

“Skräddarsydd teknologi Boozts tekniska infrastruktur är utvecklad internt, vilket särskiljer oss från många branschkollegor i e-handelsbranschen. Denna äganderätt säkerställer full kontroll över prestanda, skalbarhet och innovation, och gör att Boozt snabbt kan anpassa verksamheten efter marknadens krav och kundernas behov.”

Annual report 2024A · The company itself

“Skyteknologi Stadig flere velger å kombinere skyplattformer, standardiserte komponenter og SaaS-tjenester for å løse behov i hele virksomheten. Dette gir fleksibilitet og rigger virksomheter til å gripe muligheter raskere og endre seg i takt med raskt endrede rammebetingelser. Det legger opp til brukerdrevet og forretningsdrevet innovasjon og legger til rette for mer bruk av kunstig intelligens.”

Annual report 2024A · The company itself

“SBM-1 Strategi, forretningsmodell og verdikjede Bouvet er et ledende konsulentselskap som bistår virksomheter med å utvikle effektive og brukerorienterte løsninger innen tjenesteområdene teknologi, rådgivning og design.”

Annual report 2024A · The company itself

“SBM-1 Strategi, forretningsmodell og verdikjede Bouvet er et ledende konsulentselskap som bistår virksomheter med å utvikle effektive og brukerorienterte løsninger innen tjenesteområdene teknologi, rådgivning og design.”

Annual report 2024A · The company itself

“Further, our software solutions interact with a variety of software and hardware developed by third parties, as well as cloud providers. If we lose access to third-party code and specifications for the development of code or cloud providers fail to support our software or otherwise limit the functionality, compatibility or certification of our software or otherwise impose unfavorable terms and conditions, this could negatively impact our ability to develop compatible software.”

Annual report 2025A · The company itself

“•A prolonged disruption of our or our customers’ or suppliers’ facilities or other significant operations could have a material adverse effect on us. •We may be unable to maintain appropriate manufacturing capacity or product yields at our own manufacturing facilities. •We are subject to risks associated with our distributors and other channel partners. •Failure of our software portfolio to manage and secure IT infrastructures and environments and our use of open source software in certain software and services could have a material adverse effect on our business. •The growth of our software business depends on demand for our data center virtualization portfolio, as well as customer acceptance of our software, services and business strategy. •Incompatibility of our software portfolio with operating environments, platforms, or third-party products may adversely affect demand for our software and services.”

Annual report 2025A · The company itself

“•Failure to enter into software license agreements on a satisfactory basis could adversely affect us. •Our sales to government customers subject us to uncertainties and additional governmental regulations. •Failure to effectively manage our software solutions and services lifecycles could harm our business. •Competition in our industries could prevent us from growing our revenue. •Our operating results are subject to substantial quarterly and annual fluctuations. •We have pursued, and may in the future pursue, mergers, acquisitions, investments, joint ventures and dispositions, which could adversely affect our results of operations. •We may be involved in legal proceedings that could materially adversely affect our business.”

Annual report 2025A · The company itself

“The gross margin for our semiconductor solutions has typically been lower than our infrastructure software solutions.”

Annual report 2025A · The company itself

“Our infrastructure software solutions help enterprises simplify their information technology (“IT”) environments. Our customers rely on our infrastructure and security software solutions to modernize, optimize, and secure the most complex private cloud, hybrid cloud and edge environments. This enables scalability, agility, automation, insights, resiliency and security, making it easy for customers to run their mission-critical workloads.”

Annual report 2025A · The company itself

“Revenue Recognition — Certain Software and Support Revenue in the Infrastructure Software Segment As disclosed in Note 13 to the consolidated financial statements, the Company’s net revenue for the infrastructure software segment for the year ended November 2, 2025 was $27,029 million, a significant portion of which related to certain software and support revenue.”

Annual report 2025A · The company itself

“A failure by the third parties to: (i) comply with service level agreements in a high quality and timely manner, particularly during periods of our peak demand for their services, (ii) maintain adequate internal controls that may impact our own financial reporting, or (iii) adequately maintain the confidentiality of any of our data or trade secrets or adequately protect or properly use other intellectual property to which they may have access, could result in economic, financial and/or reputational harm to us.”

Annual report 2025A · The company itself

“We rely on a large number of vendors and other third parties to provide services, data and information such as technology, information security, funds transfers, business process management, and administration and support functions that are critical to the operations of our business. These third parties include agents and other brokers and intermediaries, insurance markets, data providers, payroll service providers, software and system vendors, health plan providers, custodians, risk modeling providers, and providers of human resource functions.”

Annual report 2025A · The company itself

“Other operating expenses for 2025 increased $249 million, or 35.1%, from the same period of 2024. This change includes: (i) $161 million of other operating expenses related to acquisitions that had no comparable costs in the same period of 2024; (ii) $113 million of Acquisition/Integration Costs that had no comparable costs in the same period of 2024; and (iii) increased information technology-related costs, partially offset by (iv) lower claims costs within our captives and (v) the year-over-year decrease of approximately $12 million in the value of assets held to fund the associated liabilities within our deferred compensation plan, which was substantially offset within employee compensation and benefits, as noted above.”

Annual report 2025A · The company itself

“extraordinary SG&A spending of at least DKK 25 million related to new technology, further IT modernisation”

Annual report 2025A · The company itself

“The most important thing for AO's future competitiveness is the employees. · IT plays a decisive role in AO's transformational power. It is crucial that AO has an IT landscape that is agile, scalable and future-proof, so that we can use as many resources as possible on development rather than operation. · AO has a strong balance sheet and a robust capital structure, enabling AO to resist headwind and to seize opportunities.”

Annual report 2025A · The company itself

“BTS kunder är verksamma huvudsakligen inom nio branscher: IT, finansiella tjänster, tillverkande industri, professional services, läkemedel & bioteknik, dagligvarubranschen (så kallade Fast-Moving Consumer Goods – FMCG), energi, telekom samt handel & distribution.”

Annual report 2024A · The company itself

“We rely on certain key information technology systems, some of which are dependent on services provided by third parties, to provide critical data and services for internal and external users, including procurement and inventory management, transaction processing, financial, commercial and operational data, human resources management, legal and tax compliance, and other information and processes necessary to operate and manage our business.”

Annual report 2025A · The company itself

“Samtidigt fortsatte vi att ha en stabil kostnadsbas och förbättrade marginalerna stadigt. Vi omorganiserade delar av våra utvecklingsteam, ersatte konsulter med anställda, minskade hostingkostnader och arbetade kontinuerligt med att förbättra kostnadsbasen. Tack vare dessa initiativ steg vår justerade EBITDAC-marginal till 0% år 2024 jämfört med -18% 2023.”

Annual report 2024A · The company itself

“Driftstörning Risk att en eller flera IT-tjänster blir otillgängliga genom felaktigheter i hanteringen av hård- och mjukvara. IT-tjänster på Catena levereras av externa IT-partners vilket innebär beroende av externa parters säkerhetsarbete.”

Annual report 2024A · The company itself

“Hosting center electricity 1,6 1,2 1,1”

Annual report 2025A · The company itself

“Software sales totaled DKK 196m, compared to DKK 210m in 2024, representing 78% of total revenue”

Annual report 2025A · The company itself

“In 2025, software subscriptions accounted for 66% of total revenue”

Annual report 2025A · The company itself

“Revenue from services amounted to DKK 55m, compared to DKK 58m in 2024”

Annual report 2025A · The company itself

“Our business relies heavily on information technology, including solutions provided by third parties, to deliver services that meet the needs of our clients. If we are unable to effectively execute or maintain our information technology strategies or adopt new technologies and processes relevant to our service platform, our ability to deliver high-quality services may be materially impaired.”

Annual report 2025A · The company itself

“We expect the competitive landscape to continue to evolve as new technologies and consumption models emerge, such as cloud-based and other “as a service” solutions, hyper-converged infrastructure, embedded software solutions, and solutions that incorporate AI. While innovation can help our business as it creates new offerings for us to sell, it can also disrupt our business model and create new and stronger competitors.”

Annual report 2025A · The company itself

“The technology industry is characterized by rapid innovation and the frequent introduction of new and enhanced hardware, software, and services, such as cloud-based and other “as a service” solutions, hyper-converged infrastructure, embedded software solutions, and solutions that incorporate AI. We have been and will continue to be dependent on innovations in technology, as well as the adoption of those innovations by customers.”

Annual report 2025A · The company itself

“In 2025, we implemented a new enterprise resource planning (“ERP”) system, along with the execution of other system transformation initiatives, that is resulting in more streamlined and efficient processes.”

Annual report 2025A · The company itself

“The success of our business depends on the continuing development, maintenance, and operation of our information technology systems. Our success is dependent on the accuracy, proper utilization, and continuing operation, maintenance, and development of our information technology systems, including our business systems, such as our sales, customer management, financial and accounting, marketing, purchasing, warehouse management, and e-commerce and mobile systems, as well as our operational platforms, including voice and data networks and power systems, which may include third-party hosted systems or systems that may utilize cloud technologies outside of our control.”

Annual report 2025A · The company itself

“Our broad array of offerings ranges from discrete hardware and software products to integrated IT solutions and services that include on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.”

Annual report 2025A · The company itself

“To help our customers accomplish this, we have built a robust portfolio of integrated IT solutions across hybrid infrastructure, digital experience, security, digital velocity, and services that we provide in on-premise, hybrid, or cloud-based environments.”

Annual report 2025A · The company itself

“We offer a broad portfolio of integrated IT solutions that include the following on-premise, hybrid, and cloud capabilities: •Hybrid Infrastructure: We assess our customers application infrastructure need, design flexible, resilient, and efficient solutions and manage the solution throughout its lifecycle. Our broad portfolio of hardware and software products, encompassing both on and off-premise solutions, enables us to provide well-integrated solutions, including converged and hyper-converged infrastructure, physical and virtualized servers, software defined automation and orchestration solutions, hybrid storage, energy-efficient power and cooling, and data center networking. •Digital Experience: We build end-to-end solutions that deliver access to applications that improve our customers’ productivity regardless of device or location.”

Annual report 2025A · The company itself

“Our services include professional services, managed services, warranties, configuration services, partner services, and telecom services. Additionally, we deliver and manage mission critical software, systems, and network solutions for our customers.”

Annual report 2025A · The company itself

“Our goal is to enhance the client experience and reinforce our role as a flexible and responsive partner to our clients, including through leveraging technology such as our Apollo™ cloud-based platform to provide real-time access to scientific data and self-service tools for clients. •Continuing to evaluate additional strategies to enhance the business.”

Annual report 2025A · The company itself

“Our systems are vulnerable to disruptions from human error, execution errors, errors in models such as those used for asset management, capital planning and management, risk management, stress testing and compliance, employee misconduct, unauthorized trading, external fraud, computer viruses, distributed denial of service attacks, cyber attacks, terrorist attacks, natural disaster, extreme weather, power outage, capacity constraints, software flaws, events impacting key business partners and vendors, and similar events. For example, we and other financial institutions have been the target of various denial of service attacks that have, in certain circumstances, made websites, mobile applications and email unavailable for periods of time.”

Annual report 2025A · The company itself

“Cloud technologies are critical to the operation of our systems and platforms and our reliance on cloud technologies is growing. We have experienced, and could, in the future, experience cloud service disruptions that lead to delays in accessing data that is important to our businesses. Such disruptions, such as the broad-reaching cloud platform outages that impacted multiple industries in recent years, can and have hindered our clients’ access to our platforms.”

Annual report 2025A · The company itself

“These increases reflect ongoing investments to support growth of the business and enhance client-serving capabilities while driving incremental efficiencies across the Company.”

Annual report 2025A · The company itself

“Our last-mile network largely utilizes a hybrid fiber coaxial cable (“HFC”) architecture, which combines the use of fiber optic cable with coaxial cable, together creating our fiber-powered network. In most systems, we deliver our signals via fiber optic cable from the headend to a group of nodes, and use coaxial cable to deliver the signal from individual nodes to the homes served by that node.”

Annual report 2025A · The company itself

“Our principal physical assets consist of cable distribution plant and equipment, including signal receiving, encoding and decoding devices, headend reception facilities, distribution systems, and customer premise equipment for each of our cable systems. Our cable plant and related equipment are generally attached to utility poles under pole rental agreements with local public utilities and telephone companies, and in certain locations are buried in underground ducts or trenches.”

Annual report 2025A · The company itself

“Capital expenditures were $11.7 billion and $11.3 billion for the years ended December 31, 2025 and 2024, respectively. The increase was primarily driven by an increase in support capital, higher spend on network evolution and an increase in scalable infrastructure spend, partly offset by a decrease in line extensions.”

Annual report 2025A · The company itself

“TPE also includes the company’s information technology organization, which integrates computing, data management and analytics, cybersecurity and other key infrastructure technologies to provide a digital foundation to enable Chevron’s global operations, projects and business processes.”

Annual report 2025A · The company itself

“Our customer base is not limited to any specific industry, geography, or market segment. Our customers primarily operate in the following markets: enterprise, public sector and service provider and cloud.”

Annual report 2026A · The company itself

“Following implementation, the Company experienced, and may continue to experience, system inefficiencies or integration challenges, delays in key business processes or workflows, data quality or migration issues, security access gaps, or operational disruptions, including issues that may emerge only as the system continues to operate at scale.”

Annual report 2025A · The company itself

“The Company has implemented and has been implementing certain strategic and transformational initiatives intended to generate cost savings, improve operational efficiencies and enhance its competitive position. These initiatives include the implementation of a new ERP system, expansion of digital capabilities and productivity enhancements, and continued execution of its long-standing cost savings program focused on reducing material and manufacturing costs, improving supply chain operations, and reducing overhead.”

Annual report 2025A · The company itself

“The Company completed the replacement of its ERP system in January 2026 as part of a broader, multi-year upgrade of its digital and productivity capabilities.”

Annual report 2025A · The company itself

“our primary sources of CO 2 emissions stem from business travel, energy consumption in our office facilities, and the use of IT equipment and data centres”

Annual report 2025A · The company itself

“Cloud Services ● Cybersecurity ● Data & AI ● Digital Commerce ● Enterprise Information Management”

Annual report 2025A · The company itself

“M3 321,547 320,982 0%”

Annual report 2025A · The company itself

“Reliance upon complex information systems and third-party global networks; cybersecurity; AI We depend on IT to enable us to operate efficiently and interface with Customers, suppliers, and consumers, maintain financial accuracy and efficiency, and effect accurate and timely governmental reporting, among other activities. If we do not allocate and effectively manage the resources to build and sustain appropriate technology infrastructure, including our global enterprise resource planning system and our unified finance platform, we could be subject to transaction or data integrity errors, processing inefficiencies, increased costs, loss of Customers, business disruptions, loss of or damage to intellectual property or proprietary information, including through a security breach, penalties associated with the failure to timely file governmental reports, and/or other difficulties.”

Annual report 2026A · The company itself

“We have outsourced various functions to third-party service providers, including cloud-based technology providers, and may outsource other functions in the future. We rely on such third-parties to provide services on a timely and effective basis, but we do not ultimately control their performance.”

Annual report 2026A · The company itself

“In the future we may experience interruptions, delays and outages in service and availability from time to time due to a variety of factors, including infrastructure changes, human or software errors, website hosting disruptions and capacity constraints. Coordinated physical and or cyber-attacks that disrupt multiple key electric or natural gas assets of unaffiliated, interconnected parties (such as parties responsible for real-time planning and management of the bulk power system) could impact our ability to provide generation, potentially resulting in localized and regional blackouts affecting third parties and the public, many of which might have no direct commercial relationship with the Company.”

Annual report 2025A · The company itself

“We currently utilize a mix of third-party managed service providers to host and support our information technology, customer support, and generation operations. For example, our data centers are hosted in vendor-managed co-location facilities; we also host infrastructure with major cloud service providers and utilize enterprise business systems. Consequently, we may be subject to short- and long-term interruptions, delays and outages in service and availability due to third-party cybersecurity or reliability incidents that are outside of our direct control.”

Annual report 2025A · The company itself

“Our success depends on maintaining the integrity of our systems and infrastructure. As our operations continue to grow in both size and scope, domestically and internationally, we must continue to provide reliable, real-time access to our systems by our customers through improving and upgrading our systems and infrastructure for enhanced products, services, features and functionality. Any failure to maintain the integrity of our systems and infrastructure may result in loss of customers due, among other things, to slow delivery times, unreliable service levels, or insufficient capacity, any of which could have a material adverse effect on our business, consolidated results of operations, and financial position.”

Annual report 2025A · The company itself

“Management Information Systems Our primary management information system runs on a platform called G2, an integrated mesh of proprietary, distributed systems that is based on services architecture and open standards. A portion of the functionality still resides in the legacy system called CAS. Table of Contents Employees from various facilities, support centers and offices around the world access the G2 platform to perform various activities like take pictures, receive vehicles, inventory vehicles, process titles, accept payments, etc. Members access the G2 Platform to search for, view, bid and pay for the vehicles.”

Annual report 2025A · The company itself

“The Company makes significant capital investments in information and operational technology, and systems to promote operational efficiency and maintain competitive advantage. Some of these investments relate to complex, multi-year technology deployments that require specialist customization and project management to deliver expected value (including Enterprise Reporting Program (ERP) and industrial control systems deployments and upgrades).”

Annual report 2025A · The company itself

“If we do not invest in modernizing our IT systems or fail to effectively execute our digital transformation initiatives, we may experience operational inefficiencies, higher operating costs, reduced scalability, and limitations on our ability to respond to customer requirements or support deployment activity. In addition, reliance on legacy or fragmented systems may affect data accuracy, system reliability, and management’s ability to obtain timely and actionable information.”

Annual report 2025A · The company itself

“If we do not continue to make appropriate investments in, and effectively implement and maintain, our information technology systems and digital capabilities, our business and operating results could be adversely affected. Our business relies on information technology ("IT") systems to support key operational, commercial, and financial processes, including site and asset management, leasing and contract administration, billing and collections, construction and supply chain activities, regulatory compliance, and financial reporting. Our industry continues to experience increasing operational complexity and growing reliance on digital tools, automation, data analytics, and integrated systems, including the use of artificial intelligence. We continue to seek to drive organizational improvement through digital transformation initiatives and modernizing our legacy IT systems.”

Annual report 2025A · The company itself

“Health Services Information Systems The Health Services segment’s claim adjudication platform incorporates architecture that centralizes the data generated from adjudicating retail pharmacy, specialty and mail order claims and delivering other solutions to PBM clients. The Health Engagement Engine® technology and proprietary clinical algorithms help connect various parts of the enterprise and serve an essential role in cost management and health improvement, leveraging cloud-native technologies and practices.”

Annual report 2025A · The company itself

“The Health Services segment’s custom-built proprietary Canopy technology is a key driver of the success of its value-based care model and foundation for patients receiving a consistent, high-quality level of care. Canopy underlies every aspect of the Company’s day-to-day clinical and operational workflows, allowing care teams to tailor care plans to the needs of both the patient and the business.”

Annual report 2025A · The company itself

“Pharmacy & Consumer Wellness Information Systems The Company has continued to invest in information systems to enable it to deliver exceptional customer service, enhance safety and quality, and expand patient care services while lowering operating costs. The proprietary WeCARE Workflow tool supports pharmacy teams by prioritizing work to meet customer expectations, facilitating prescriber outreach, and seamlessly integrating clinical programs.”

Annual report 2025A · The company itself

“Information Systems Our business depends significantly on effective information systems. Our information systems require an ongoing commitment of significant resources to maintain, upgrade and enhance existing systems and develop or contract for new systems in order to keep pace with an evolving cyber threat landscape in information processing technology, emerging cybersecurity risks and threats, evolving industry, legal and regulatory standards and requirements, new models of care, and other changes in our business, among other things.”

Annual report 2025A · The company itself

“For example, in the clinical environment, any failure of our clinical systems or the systems of our third-party service providers could adversely impact the clinical care provided to patients, and any failure to accurately capture relevant claims data or any data integrity issues in our clinical systems with respect information reported 40 to government payors could adversely impact our payments from such payors.”

Annual report 2025A · The company itself

“In addition, our billing systems, among others, are critical to our billing operations. This includes our systems for our dialysis clinics as well as our systems for our hospital services and our ancillary businesses, including our international business. If there is any failure in our ability to operate our billing systems, or billing systems or services of third parties upon which we rely, we may experience difficulties in our ability to successfully bill and collect for services rendered, including, without limitation, a delay in collections, a reduction in the amounts collected, increased risk of retractions from and refunds to commercial and government payors, an increase in our provision for uncollectible accounts receivable and noncompliance with reimbursement laws and related requirements, any or all of which could materially adversely affect our results of operations.”

Annual report 2025A · The company itself

“We have significant third party service providers that perform key functions for us, including, among others, claims processing, financial accounting, and information technology functions, and we have increased our use of certain third party service providers in recent years. We rely on these third party service providers to provide important and required services, and this reliance subjects us to risks arising from the loss of control over these services, changes in pricing that may affect our operating results, and potentially, termination or disruption of the provision of these services by our providers.”

Annual report 2025A · The company itself

“We have made and expect to continue to make significant investments in updating and integrating our clinical IT systems and continuing to build our data interoperability capabilities. Rulemaking in these areas is ongoing, and there can be no assurances that the implementation of planned enhancements to our systems, such as our implementation of these data interoperability provisions or our other ongoing efforts to upgrade and better integrate our clinical systems, will be successful once the regulatory environment settles or that we will ultimately realize anticipated benefits from investments in new or existing information systems.”

Annual report 2025A · The company itself

“Oppstrøms Omfatter innhenting av kapital og kjøp av produkter og tjenester, blant annet IT-løsninger, konsulenttjenester, samt varer og tjenester knyttet til eiendommer og kontorutstyr.”

Annual report 2024A · The company itself

“Teknologi og data innhentes og utvikles gjennom samarbeid med teknologipartnere og interne innovasjonsprosjekter.”

Annual report 2024A · The company itself

“Vi er godt i gang med vår overgang til skybaserte løsninger, der 62 prosent av våre IT-systemer nå enten er bygget direkte i eller migrert til offentlige skyløsninger. Som en del av vårt arbeid med å effektivisere og forenkle virksomheten, har vi siden 2020 faset ut 490 IT-systemer.”

Annual report 2024A · The company itself

“Dometic har inlett minskningar av komplexi - teten inom hela organisationen, bland annat i fråga om antalet leverantörer, antalet anläggningar, antalet juridiska enheter och antalet lagerartiklar (SKU:er), samt vad gäller IT-infrastrukturen.”

Annual report 2024A · The company itself

“Second, we continue to focus on improving returns on capital, as well as earnings margin, by enhancing our operational capabilities and making investments across the organization in growth capacity expansion, digital capabilities, automation, operations management, information technology ("IT"), shared services (including Dover Business Services and our India Innovation Center), and talent.”

Annual report 2025A · The company itself

“Our shared services capabilities include a wide range of functional areas including transactional support, human resources, IT, finance and accounting, engineering and product development. These services enable increased productivity and growth as well as free up resources within our operating companies to focus on customers, markets and product development.”

Annual report 2025A · The company itself

“During the year, Dover Food Retail introduced a cloud-based software to digitize the full life cycle of CO2 refrigeration solutions from deployment to diagnostics, warranty management and maintenance, supported by production data, to shorten startup cycles, reduce errors such as incorrect high pressure control set points, and improve consistency during deployment.”

Annual report 2025A · The company itself

“Duke Energy’s operations are dependent upon the proper functioning of its internal systems, including the information technology systems that support our underlying business processes. Any significant failure or malfunction of such information technology systems may result in disruptions of our operations.”

Annual report 2025A · The company itself

“The size and complexity of our information technology systems and those of strategic vendors make them vulnerable to failure, malicious intrusion and random attack.”

Annual report 2025A · The company itself

“In addition to the offer to the B2B market, the Group also sells reused and refurbished IT-related products via its own brand ReuseIT and photo products via the brands fotokasten and myphotobook directly to consumers.”

Annual report 2024A · The company itself

“Revenue 2025 level or slightly higher EBITDA EUR 815–845 million CAPEX-to-sales 12% Medium-term financial targets by the end of 2027 Revenue 2024–2027 CAGR >4% EBITDA 2024–2027 CAGR >4% CAPEX/Sales Maximum 12 per cent Net Debt/EBITDA 1.5–2x Equity ratio > 35 per cent Annual General Meeting Elisa’s Annual General Meeting will be held on 1 April 2026.”

Annual report 2025A · The company itself

“The markets for IT services have continued to develop favourably.”

Annual report 2025A · The company itself

“Revenue increased by 3 per cent on the previous year, mainly due to growth in mobile and international software services, corporate digital services as well as interconnection and roaming.”

Annual report 2025A · The company itself

“Revenue was positively affected by growth in mobile, fixed and energy software services, as well as in interconnection and roaming revenue.”

Annual report 2025A · The company itself

“Revenue increased by 43 per cent, driven by acquisitions, growth in services and recurring revenue.”

Annual report 2025A · The company itself

“Extended Alliance Elmera Group delivers billing and payment services for electricity and broadband com- panies via AllRate AS. The platform was developed by Fjordkraft and is operated and upgraded by its jointly owned software.”

Annual report 2024A · The company itself

“Inom Logistics & Services erbjuder Elon skräddarsydda lösningar med fokus på lagerhållning, logistik, fraktavtal, IT och betallösningar för ökad effektivitet, enkelhet och lönsamhet. • Bolaget förvärvade Euronics AB och processen att inkludera Euronics butikerna i Elon var helt genomförd vid årets slut.”

Annual report 2024A · The company itself

“Enento Group has invested and will continue to invest in its technical infrastructure, including equipment and software. If the Group fails in its technological investments, its income may not develop as expected and its expenses may increase.”

Annual report 2025A · The company itself

“Kostnader för ERP uppgår för året till 30 (36) MSEK. Implementering av affärssystemet påbörjades under 2023 och har pågått under 2024.”

Annual report 2024A · The company itself

“Processing and production: The raw materials are processed into essential components for construction and property management, such as construction materials, building components, insulation, software and hardware.”

Annual report 2024A · The company itself

“Risken att ett fel i en produkt utvecklad och tillverkad av koncernen skulle kunna medföra betydande ekonomiska krav hanteras genom att arbetet sker i nära samarbete med kunderna, med noggranna tester, samt är ISOcertifierat.”

Annual report 2024A · The company itself

“På kort sikt är bolagets investeringar i huvudsak riktade mot mjukvaruutveckling och utveckling av bolagets IT-plattform. Bolaget kommer investera i produktionsmöjligheter när efterfrågan driver högre volymer.”

Annual report 2024A · The company itself

“EQT investerar i sektorer som drivs av långsiktiga trender, och vi arbetar aktivt med portföljen för att skapa motståndskraftiga, framtidssäkrade tillgångar. Dessa sektorer inkluderar hälsovård, teknik och infrastruktur, som alla kräver omfattande investeringar under de kommande decennierna.”

Annual report 2024A · The company itself

“I maj 2024 förvärvade EQT Private Capital Asia WSO2, en leverantör av programvara för applikationsutveckling. WSO2, som grundades i Asien, har en global kundbas där över 80 procent av intäkterna kommer från blue-chip-kunder i Amerika och EMEA. WSO2 erbjuder en heltäckande portfölj av lösningar inom API-hantering, API-integration och identitets- och åtkomsthantering, vilket gör det möjligt för företag – inklusive stora koncerner, universitet och myndigheter – att påskynda sin digitala transformation på ett säkert och effektivt sätt.”

Annual report 2024A · The company itself

“#01 Detta är EQT #02 Finansiella rapporter #03 Hållbarhetsnoter #04 Bolagsstyrning #05 Ytterligare information Hälsovård — MedTech — Life Science-verktyg och diagnostik — Läkemedel och relaterade tjänster — Hälsovårds-IT Tjänster — Outsourcing av kritiska tjänster — Nätverkstjänster — Tekniktjänster Teknologi — Mjukvara — Konsumentinriktade internettjänster — Digitala medier och underhållning Industriell teknologi — Automatisering och Internet of Things — Hållbarhetsteknik — Livsmedelsteknik 41% 31% 5% 23% 2% 27% 16% 15% 8% 32% Klimat & Natur Hälsa & Välmående Tillgång & Jämlikhet Motståndskraft & Transparens Vår uppkopplade värld Modularisering av teknologi Distribuerat ägande & Decentralisering Hälsovård Teknologi Tjänster Industriell teknologi Tjänster Tekniska tjänster Teknologi Hälsovård Industriell teknologi Annat – EQT Private Capital EQT:s affärssegment Private Capital investerar utifrån en tematisk investeringsstrategi kombinerad med djup sektorexpertis, med fokus på ledande icke-cykliska bolag.”

Annual report 2024A · The company itself

“Our business, and the U.S. energy grid, is predominately operated on a digital system. Our employees rely on our cloud-based digital work environment to communicate and access data that is necessary to conduct our day-to-day operations. While these systems and infrastructure enable us to efficiently supply natural gas and NGLs to the market, they are also susceptible to physical and cybersecurity threats.”

Annual report unknown yearA · The company itself

“Our business and the natural gas industry in general have become increasingly dependent upon digital technologies, including information systems, infrastructure and cloud applications, and the maintenance of our financial and other records has long been dependent upon such technologies. We depend on this technology to record and store data, estimate quantities of natural gas, NGLs and oil reserves, analyze and share operating data and communicate internally and externally.”

Annual report unknown yearA · The company itself

“Dependence on outsourced information technology and other administrative functions may impair our ability to operate effectively. We have outsourced various components of our application development, information technology, operational support and administrative functions and will continue to evaluate additional outsourcing.”

Annual report 2025A · The company itself

“Furthermore, we are dependent upon internet service providers, telecommunications carriers and other website operators in the Americas, Asia-Pacific and EMEA regions and elsewhere, some of which have experienced significant system failures and electrical outages in the past. We also rely on a number of third-party software providers in order to deliver our offerings and operate our business.”

Annual report 2025A · The company itself

“We rely on third-party suppliers for equipment, materials, and services and we outsource certain business functions to third-party suppliers and service providers, and substandard performance or inability to fulfill obligations by those third parties could harm our business, reputation and results of operations. We outsource certain services to third parties in areas including information technology, transaction processing, human resources, payroll and payroll processing and certain operational areas.”

Annual report 2025A · The company itself

“The increase in 2025 is primarily due to higher rental and occupancy expenses, technology related expenses as well as consulting, and travel, and indirect taxes. We expect to continue to enhance security and internal controls over our technology and systems and plan to deploy additional solutions which will result in increased expenses in the future.”

Annual report 2025A · The company itself

“Expeditors relies heavily and must compete based upon the flexibility and sophistication of the technologies, including AI, utilized in performing our core businesses. Future results depend on our success in developing competitive and reliable systems to address the needs of our customers and suppliers.”

Annual report 2025A · The company itself

“Certain third parties are involved in critical technology services and data processing. These third parties are subject to similar cybersecurity and operational risks, and their failures, breaches, or human errors could compromise our data or disrupt our operations, despite having security processes, protocols, and standards in place.”

Annual report 2026A · The company itself

“We engage third-party service providers to perform certain functions that are integral to our business, including the provision of information technology infrastructure, application development, maintenance and support, and end-user support services.”

Annual report 2026A · The company itself

“Following the termination of the Transition Services Agreement, we will need to provide internally or obtain from unaffiliated third parties the services we no longer receive from FedEx. If we do not replace these services successfully, we may not be able to operate our business effectively, which could materially adversely affect our results of operations.”

Annual report 2026A · The company itself

“Internally we are facing extra costs from implementing the new ERP system, while keeping old sys - tems running, as well as higher than normal costs running our logistics until we have fully implemented our warehouse oper - ation in Ludwigslust.”

Annual report 2024A · The company itself

“Many of our services are based on sophisticated software and computing systems, and we may encounter delays when developing new technology solutions and services. Further, the technology solutions underlying our services have occasionally contained, and may in the future contain, undetected errors or defects when first introduced or when new versions are released. In addition, we may experience difficulties in installing or integrating our technologies on platforms used by our clients, or our clients may cancel a project after we have expended significant effort and resources to complete an installation.”

Annual report 2025A · The company itself

“In addition, we generally depend on a number of third parties, both in the United States and internationally, to supply elements of our systems, computers, research and market data, connectivity, communication network infrastructure, other equipment and related support and maintenance. We cannot be certain that any of these third parties will be able to continue providing these services to meet our evolving needs effectively. If our vendors, or in certain cases vendors of our customers, fail to meet their obligations, provide poor or untimely service or suffer operational disruptions, and we are unable to make alternative arrangements for the provision of these services, then we may in turn fail to provide our services or to meet our obligations to our customers, and our business, financial condition or results of operations could be adversely affected.”

Annual report 2025A · The company itself

“Purchase Commitments The Company has agreements with various vendors, generally with one- to five-year terms, principally for software, maintenance, and consulting and outsourced services, including cloud hosting and data centers. The Company's estimated aggregate contractual obligation remaining under these agreements is approximately $1.2 billion as of December 31, 2025.”

Annual report 2025A · The company itself

“Transaction Processing and Services Revenue Transaction processing and services revenue is primarily comprised of payment processing, data processing, application management, and outsourced services, including our SaaS, BPaaS and cloud offerings.”

Annual report 2025A · The company itself

“Our data centers and networks and those of our hosting vendors and cloud service providers may also experience technical failures and downtime, and may fail to distribute appropriate updates, or fail to meet the increased requirements of our customer base. Any such technical failure, downtime or failures in general may temporarily or permanently expose our end-customers’ networks, leaving their networks unprotected against the latest security threats.”

Annual report 2025A · The company itself

“Moreover, business models based on a subscription cloud-based software service have become increasingly in demand by our end-customers and adopted by other providers, including our competitors. While we have introduced additional cloud-based solutions and will continue to do so, most of our platform is currently deployed on premise, and therefore, as customers demand that solutions be provided through a subscription cloud-based business model, we are making additional investments in our infrastructure and personnel to be able to more fully provide our platform through a subscription cloud-based model in order to maintain the competitiveness of our platform. Such investments involve expanding our data centers, servers and networks, and increasing our technical operations and engineering teams and this results in added cost and risks associated with managing new business models, such as obligations to deliver certain functionality and features and to meet certain service level agreements related to cloud-based solutions.”

Annual report 2025A · The company itself

“4.5 Toimittajasuhteiden hallinta Fortum on merkittävä tavaroiden ja palvelujen ostaja, mukaan lukien laitosten ja toimipaikkojen käyttöön ja ylläpitoon liittyvät tavarat ja palvelut, polttoaineet sekä tietotekniset ratkaisut ja asiantuntijapalvelut. Hankinnan tavoitteena on mahdollistaa liiketoiminnan vahva suorituskyky ja kestävät hankintaprosessit sekä varmistaa oikeiden materiaalien ja palvelujen saatavuus liiketoimintojen tarpeisiin ja vaatimuksiin.”

Annual report 2025A · The company itself

“Further, we outsource various administration, technology, transfer agency and other services for our funds to third-party providers who may serve as a sub-agent or delegate.”

Annual report 2025A · The company itself

“We currently, and may in the future, depend on third-party providers to support various operational, administrative, technology, transfer agency, market data, distribution, and other business needs of our company. Further, we outsource various administration, technology, transfer agency and other services for our funds to third-party providers.”

Annual report 2025A · The company itself

“For example, in July 2024, we selected a third-party technology solution to further support our investment management process and unify our investment management technology platform across asset classes to reduce complexity and support business growth, subject to a multi-year transition and implementation period.”

Annual report 2025A · The company itself

“Koncernen har valgt at outsource driften af virksomhedens IT-platform til eksterne servicepartnere. Dette sikrer en løbende opdatering af sikkerhedssystemer og mindsker risikoen for væsentlige driftsforstyrrelser.”

Annual report 2025A · The company itself

“Table of Contents If an arrangement with a third-party service provider or vendor is terminated or if there is a lapse of service or damage to its systems or facilities, we could experience interruptions in our ability to operate our platform. We also may experience increased costs and difficulties in replacing such third-party service provider or vendor, and replacement services may not be available on commercially reasonable terms, on a timely basis, or at all. In the event of damage or interruption, our insurance policies may not adequately compensate us for any losses that we may incur.”

Annual report 2026A · The company itself

“Our solutions are complex and operate in a wide variety of environments, systems and configurations, which could result in failures of our solutions to function as designed. Because we offer complex solutions, errors, defects, disruptions, or other performance problems with our solutions may occur and have occurred. For example, we may experience disruptions, outages and other performance problems due to a variety of factors, including infrastructure changes, human or software errors, fraud, security attacks or capacity constraints due to an overwhelming number of users accessing our websites simultaneously. As we continue to expand the number of our customers and the products and services available through our platform, we may not be able to scale our technology to accommodate the increased capacity requirements.”

Annual report 2026A · The company itself

“To the extent we use or are dependent on any particular third-party data, technology or software, we may also be harmed if such data, technology, or software becomes non-compliant with existing regulations or industry standards, becomes subject to third-party claims of intellectual property infringement, misappropriation or other violation, or malfunctions or functions in a way we did not anticipate. Any loss of the right to use any of this data, technology or software could result in delays in the provisioning of our products and services until equivalent or replacement data, technology or software is either developed by us, or, if available, is identified, obtained and integrated, and there is no guarantee that we would be successful in developing, identifying, obtaining or integrating equivalent or similar data, technology or software, which could result in the loss or limiting of our products or services or features available in our products or services.”

Annual report 2026A · The company itself

“If we are unable to obtain or maintain necessary third-party licenses, or if licensors impose more restrictive terms or higher fees or royalties, we may be required to modify our products, obtain alternative technology, incur increased costs or limit certain offerings. Furthermore, incorporating intellectual property or proprietary rights in our products or services licensed from or otherwise made available to us by third parties on a non-exclusive basis could limit our ability to protect the intellectual property and proprietary rights in our products and services and our ability to restrict third parties from developing, selling or otherwise providing similar or competitive technology using the same third-party intellectual property or proprietary rights Some of our products contain “open source” software, and any failure to comply with the terms of one or more of these open source licenses could negatively affect our business.”

Annual report 2026A · The company itself

“The company is dependent on the stability and optimal performance of its systems. Failure can result from bugs, errors (including fault and negligence-based errors) and capacity, amongst others. Failure could harm the business and financial performance.”

Annual report 2024A · The company itself

“For example, our Kite Konnect platform is critical to maintain chain of identity and chain of custody for our cell therapies.”

Annual report 2025A · The company itself

“VIDERE IMPLEMENTERING AV NYTT KJERNESYSTEM Gjensidige utvikler et nytt kjernesystem – IDIT – for skadeforsikring. Med IDIT får vi en plattform som på sikt vil gi oss fleksibilitet når det skal utvikles nye produkter og tjenester for å gi bedre kundeopplevelser. Det nye kjernesystemet vil styrke vår lønnsomhet og konkurransekraft.”

Annual report 2024A · The company itself

“2024 er resultat av forbedringsinitiativer i Norge og Danmark, inkludert overføring av beste praksis mellom landene. Forbedrede digitale kundeløsninger og styrket implementering av det nye kjernesystemet i Danmark samt organisatoriske tilpasninger er blant de viktigste driverne for forbedringen.”

Annual report 2024A · The company itself

“God informasjonssikkerhet er derfor sentralt for å sikre kundenes tillit, vårt renomme og konkurranseevne. Vi har etablert et styringssystem for informasjonssikkerhet etter prinsippene i ISO/ IEC27001/2 som regulerer krav til informasjonssikkerhet i Gjensidige.”

Annual report 2024A · The company itself

“IT and data are foundational business enablers for GN across all value chain components”

Annual report 2025A · The company itself

“Enterprise 6,899 ... audio and video solutions for enterprises and organizations”

Annual report 2025B · From the report

“Annual Report 2024 24 AFTERMARKET &SERVICE Goodtech has established a dedicated business unit for service and aftermarket solutions, launching a Group-wide service model in 2023. This includes continuous support for customers throughout the entire lifecycle of their production facilities. Goodtech’s offerings typically cover service agreements with 24/7 first- and second-line on-call support teams, license-administration, and managed services for OT infrastructure and networks.”

Annual report 2024A · The company itself

“Goodtech also offers its proprietary software, Operations Control (OC), for OT Managed Services. This platform provides: •Ongoing monitoring of OT and network infrastructure in industrial production facilities •Patch management, upgrades, security monitoring, and performance optimization This solution is well established in the offshore and energy industries and was further expanded in 2024 to support offshore wind, district heating, and shipyard industries.”

Annual report 2024A · The company itself

“In 2024, Goodtech also introduced Hypercare as a new service offering to the market. This encompasses all post-commissioning optimization of automated production facilities.”

Annual report 2024A · The company itself

“Digitalisation and Technology Development Goodtech continued its investment in innovation and technology development throughout 2024, with a focus on: •Manufacturing Execution Systems (MES) •Cyber Security Management Systems (CSMS) •Unified Namespace (UNS) The company’s proprietary MES system is already used in fish feed production in Norway, Sweden, and internationally in countries like Spain and the UK. Additionally, Goodtech houses the largest competency pool of experts in AVEVA’s model-driven MES-solutions and TrakSYS’ MES systems.”

Annual report 2024A · The company itself

“Unified Namespace (UNS) is expected to significantly improve efficiency in coding control systems for production industries. As a result, Goodtech has been actively developing internal expertise and delivering customer projects in this area.”

Annual report 2024A · The company itself

“Goodtech’s IIoT Gateway WiZX (second prototype) extracts data from complex sources, enabling users to optimize operations and maintenance. In 2024, the WiZX system was piloted with a third-party production provider.”

Annual report 2024A · The company itself

“Produktionsrisker förknippas med kritiska maskinhaverier, såväl maskin- som mjukvara, eller katastrofer, exempelvis en brand eller en explosion som inträffar på produktionsanläggningarna. Kritiska maskinhaverier på Gränges produktionsanläggningar kan orsaka produktionsavbrott, vilket förhindrar eller försvårar Gränges möjligheter att infria sina åtaganden gentemot kunderna.”

Annual report 2024A · The company itself

“In May 2025, Lundbeck became one of the first pharmaceutical companies to collaborate with the Danish Centre for AI Innovation (DCAI), gaining privileged access to Gefion, one of the world’s most powerful AI supercomputers. This collaboration represents a pivotal step in our Focused Innovator Strategy, and supplements Lundbeck’s Science Cloud, a state-of-the-art platform on Amazon Web Services (AWS), providing on-demand infrastructure for computing needs, and facilitating daily innovation.”

Annual report 2025A · The company itself

“hvoraf hovedparten er relateret til nyt ERP-system”

Annual report 2026A · The company itself

“Harboes drift, rapportering og kontrolsystemer er i vid udstrækning drevet af IT-systemer og afhængig af høj IT-sikkerhed.”

Annual report 2026A · The company itself

“Højere omkostninger til administration, hvoraf hovedparten er relateret til nyt ERP-system.”

Annual report 2026A · The company itself

“This transformation was powered by significant developments in Harvia’s IT infrastructure.”

Annual report 2025A · The company itself

“We rely on information technology in our operations, and any material failure, inadequacy, interruption, or security failure of that technology could harm our business. We rely on information technology networks, enterprise applications, and other information systems to process, transmit, and store electronic information, and to manage or support a variety of business processes, including financial transactions and records, to maintain personal identifying information and tenant and lease data, and to operate building management systems.”

Annual report 2025A · The company itself

“In addition to state-specific data breach notification laws (which exist in all U.S. states and territories), cybersecurity laws such as the federal Cyber Incident Reporting for Critical Infrastructure Act of 2022, proposed Federal Acquisition Regulations and amendments to SEC reporting requirements may require us to provide notifications about cybersecurity incidents in limited timeframes and before investigations are complete. Our businesses’ failure to comply with these laws and regulations could expose us to breach of contract claims, substantial fines, penalties and other liabilities and expenses, costs for remediation and harm to our reputation.”

Annual report 2025A · The company itself

“We operationalized the final phase of our multi-year implementation of a new global enterprise resource planning (“ERP”) system in April 2024, by implementing the new system in the North America Confectionery segment and select business units included in our International segment. This ERP system replaced our legacy operating and financial systems and is designed to accurately maintain the Company’s financial records, enhance operational functionality and provide timely information to the Company’s management team related to the operation of the business.”

Annual report 2025A · The company itself

“Främst är det inom service-affären vi vill öka närvaron, både genom organisk tillväxt och via förvärv. Service är en attraktiv del av verksamheten som innebär att vi skapar långvariga relationer med våra kunder.”

Annual report 2024A · The company itself

“Vi designar infrastruktur och kabellösningar, planerar installationer samt bistår med support och driftstjänster, allt för att installationer ska kunna göras på ett säkert och effektivt sätt. utformat med redundans för att säkerställa kontinuerlig tillgång till data och datorresurser.”

Annual report 2024A · The company itself

“I utvärderingsfasen poängsätts leverantörerna på varje ämne och kan ombes att förtydliga och/eller komplettera materialet, eller vidta korrigerande åtgärder, för att bli godkända. *Godkännande kräver en poäng på 70 % eller högre Slutanvändare Hexatronics fiberoptiska lösningar spelar en viktig roll i att främja digital anslutning och erbjuder betydande möjligheter att positivt påverka slutanvändare genom förbättrad tillgång till informations- och kommunikationsteknik.”

Annual report 2024A · The company itself

“Hiab auttaa asiakkaitaan harjoittamaan liiketoimintaa tehokkaasti yhdistämällä laitteet, palvelut ja ohjelmistot. Maailmanlaajuisen verkostonsa ansiosta yhtiö voi olla lähellä asiakkaitaan lähes missä päin maailmaa tahansa.”

Annual report 2025A · The company itself

“For example, in July 2024 a software update by CrowdStrike Holdings, Inc., a cybersecurity technology company, caused a global information technology outage. Although the outage did not have a material impact to our business, we were temporarily impacted by the outage, and similar software outages in the future could harm our operations and be material to us.”

Annual report 2025A · The company itself

“Additionally, the owners generally pay monthly program fees based on the underlying hotel's sales or usage, as reimbursement for the costs related to our: (i) advertising and marketing programs; (ii) internet, technology and reservation systems; and (iii) quality assurance programs. Owners are also responsible for various other fees and charges, including payments for participation in our Hilton Honors guest loyalty program, training, consultation and procurement of certain goods and services.”

Annual report 2025A · The company itself

“Franchisees also pay a royalty fee, generally based on a percentage of the hotel’s monthly gross room revenue and, in some cases, may also include a percentage of gross food and beverage revenues and other revenues, as applicable. Additionally, franchised properties generally pay monthly program fees based on the underlying property's sales or usage, as reimbursement for the costs related to our: (i) advertising and marketing programs; (ii) internet, technology and reservation systems; and (iii) quality assurance programs.”

Annual report 2025A · The company itself

“The hospitality industry demands the use of sophisticated technology and systems for property management, brand assurance and compliance, procurement, finance, human resources, reservation systems, distribution of hotel resources to current and future customers and guest amenities and the operation of the Hilton Honors guest loyalty program. These technologies may require maintenance or refinements and upgrades, and third parties may cease support of systems that are currently in use.”

Annual report 2025A · The company itself

“We rely on third parties for the performance of a significant portion of our information technology functions worldwide. In particular, our loyalty platform, property management, reservation and distribution systems rely on data communications networks and systems operated by unaffiliated third parties and cloud providers.”

Annual report 2025A · The company itself

“Typexempel i vår verksamhet är att problem med IT-system eller data leder till att processer inte fungerar eller att uppgifter inte kan utföras. Kategorin operativa risker expanderar brett på grund av det ökade sambandet med ESG-faktorer som pandemier, klimatförändringar och finansiell inkludering.”

Annual report 2024A · The company itself

“Vi tog hem vår sedan tidigare utkontrakterade IT-drift och genomförde strategiska försäljningar i bland annat Spanien och Italien.”

Annual report 2024A · The company itself

“För att styra och planera produktion, försäljning samt inköp krävs ett effektivt IT-stöd. Störningar i IT-stödet och obehörig åtkomst till information kan ge betydande negativa effekter för verksamheten.”

Annual report 2024A · The company itself

“In managing our business, we also rely heavily on the integrity of, security of, and consistent access to, systems that provide operational and financial data and capabilities related to sales (both in store and online), customer data, supplier data, associate data, jobseeker data, partner data, demand forecasting, merchandise ordering, inventory replenishment, supply chain management, payment processing, order fulfillment, customer service, and post-purchase support.”

Annual report 2026A · The company itself

“In addition, to deliver our interconnected customer experience, we must attract and retain a large number of skilled professionals, including technology professionals, to implement our ongoing technology and other investments. The market for these professionals is very competitive.”

Annual report 2026A · The company itself

“The Company also relies on a variety of third-party service providers to support its operations. Any disruption to services from third-party service providers used to support business functions such as benefit plan administration, payroll processing, 7 Table of Contents information technology (IT), and cloud computing services could adversely affect the Company's business, results of operations, and financial condition.”

Annual report 2025A · The company itself

“Capital expenditures supporting growth opportunities in fiscal 2026 are expected to focus on projects related to infrastructure, new data and technology, and equipment upgrades. Capital expenditures for fiscal 2026 are estimated to be $260 million to $290 million.”

Annual report 2025A · The company itself

“We engage a significant number of these third parties to assist us with various business functions that require the use, storage, processing and deletion of data. While we make efforts to assess and validate the implementation of cybersecurity requirements and controls by these third parties with respect to the services provided and the data handled on our behalf, there remains a risk of misappropriation, compromise or breach of data outside of our direct control.”

Annual report 2025A · The company itself

“We depend on independent third parties for significant portions of our systems-related support, equipment, facilities, and certain data, including data center operations, data network, voice communication services and pharmacy data processing. This dependence makes our operations vulnerable to such third parties' failure to perform adequately under the contract, due to internal or external factors.”

Annual report 2025A · The company itself

“ANDRA RISKOMRÅDEN I VÄRDEKEDJAN Risker relaterade till informationssystem, personuppgifter och cyberbrott Koncernen förlitar sig starkt på dess IT-system för att kunna driva sin verksamhet. Störningar eller fel i kritiska IT-system kan ha direkt påverkan exempelvis på produktion och logistik.”

Annual report 2024A · The company itself

“När det gäller processer och digitala lösningar är vår implementering av plattformarna Group ERP, Product Lifecycle Management och Workforce Management (Workday) viktiga exempel på hur vi bygger en stark grundläggande infrastruktur. På den organisatoriska sidan tar vårt nyligen etablerade AI Center of Excellence hjälp av AI för att förbättra verksamheten, medan Global Business Solutions (GBS) syftar till att leverera effektiva, automatiserade och konsekventa transaktionsprocesser i hela organisationen inom områden som P&O och Finance.”

Annual report 2024A · The company itself

“Controls and Software Equipment controls and software are of increasing importance in our flow control applications for both the optimization of current systems as well as to enable the Industrial Internet of Things (“IIoT”) evolution. In the agriculture market, we sell controllers and software that monitor and control the main functions within livestock and greenhouse facility operations with the benefit of reducing cost and improving yield. In natural gas pipelines and distribution, we sell monitoring devices connected to cloud-based software for real time monitoring of odor injection pumping systems, which enhances safety and reduces costs.”

Annual report 2025A · The company itself

“Our continued success in effectively managing and growing our business depends on our ability to integrate our varied accounting, financial, information and operational systems on a global basis. Moreover, adapting or developing the existing technology systems we use to meet our internal needs, as well as client needs, industry demands and new regulatory requirements, is also critical for our business. The introduction of new technologies, such as our Alpha/Hybrid investment platform, presents new challenges and new potential risks to us.”

Annual report 2025A · The company itself

“Our ability to conduct any of the foregoing actions is highly dependent on communications and information systems and on third-party service providers and their related technology systems and platforms. Certain of these processes involve a degree of manual input, and thus errors could occur. In addition, our operations and processes rely on commercially available data provided by third parties as well as providers of services, including technology services, and operating errors, process failures or failures to comply with data usage requirements with respect to these service providers may adversely impact us.”

Annual report 2025A · The company itself

“In addition to investment management, our services include fund administration, sales, distribution, marketing, shareholder servicing and trust, custody and other fiduciary services and portfolio management software services. We must properly perform our responsibilities associated with the forgoing services, including portfolio recordkeeping and accounting, security pricing, corporate actions, investment restrictions compliance, daily NAV computations, account reconciliations and required distributions to fund shareholders. The ability to consistently and reliably perform such services is essential to our continuing success.”

Annual report 2025A · 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

“En ledande global leverantör av infrastruktur, teknologi och informationstjänster till de finansiella marknaderna. • Nasdaq är ledande inom den lönsamma tradingverksamheten i både USA och Norden och företaget har byggt positioner i attraktiva närliggande verksamheter. • Den finansiella utvecklingen var stark under 2022, drivet av höga tradingvolymer.”

Annual report 2022A · The company itself

“The materialization of any of these risks may impede the processing of data, the delivery of databases and services, and the day-to-day management of our business and could result in the corruption, loss or unauthorized disclosure of proprietary, confidential or other data. While we have disaster recovery plans in place, they might not adequately protect us in the event of a system failure. While many of our operations have disaster recovery plans in place, we currently do not have excess or standby computer processing or network capacity everywhere in the world to avoid disruption in the receipt, processing and delivery of data in the event of a system failure. Despite any precautions we take, damage from fire, floods, hurricanes, power loss, telecommunications failures, computer viruses, break-ins and similar events at our various computer facilities could result in interruptions in the flow of data to our servers and from our servers to our clients.”

Annual report 2025A · The company itself

“We also compete, in some of our business lines, with our current and potential customers’ internal storage and information management services capabilities and their cloud-based alternatives. These organizations may not begin or continue to use us for their future storage and information management service needs.”

Annual report 2025A · The company itself

“Failure to manage and adequately implement our new IT systems could negatively affect our business. We rely on IT infrastructure, including hardware, networks, software, people and processes, to provide information to support assessments and conclusions about our operating performance. We are in the process of upgrading a number of our IT systems, including consolidating our existing finance operations platforms, and we face risks relating to these transitions.”

Annual report 2025A · The company itself

“Technology and data A key enabler for developing outstanding customer solutions and executing our strategic initiatives”

Annual report 2025A · The company itself

“We implemented a new commercial operating model to drive future growth, established a workforce management programme to drive efficiencies, and successfully transitioned nine countries to our finance shared service centre in Poland.”

Annual report 2025A · The company itself

“Key customer segments include Office-based customers in Information & Communication and Financial Services; and Production-based customers in Industry & Manufacturing and Pharmaceuticals; and Healthcare.”

Annual report 2025A · The company itself

“tekniske nedbrud i Jeudans IT-infrastruktur såsom Microsoft Azure (cloud)”

Annual report 2025B · From the report

“Jeudan har udviklet ensartede forretningsprocesser inden for både serviceydelser og gennemførelse af større byggeprojekter, og disse understøes af IT-værktøjer og programmer både inden for kommunikation, planlægning, design og økonomi.”

Annual report 2025A · The company itself

“Palvelut on ilmoitettu kelpoisiksi taksonomian seuraavien toimintojen alla: 4.1 IT/OT-datavetoisten palvelujen tarjoaminen, 5.1 Korjaus, kunnostus ja uudelleenvalmistus, 5.2 Varaosien myynti, 5.4 Käytetyn tavaran kauppa, 5.5 Tuote palveluna ja muut kiertotalouteen perustuvat, käyttöön ja tulokseen suuntautuneet palvelumallit.”

Annual report 2025A · The company itself

“Eventuella brister i funktionalitet eller brister som orsakar avbrott i tillgängligheten av Karnovs tjänster och lösningar, däribland användarfel, kan leda till förlust av eller försenad marknadsacceptans och användning av bolagets tjänster och lösningar. Det kan också leda till garantikrav, att kundkrediter måste medges eller till återbetalning av förutbetalda belopp avseende outnyttjade tjänster, förlust av kunder, eller omfördelning av resurser för utveckling och kundservice. Slutligen kan sådana brister skada Karnovs anseende.”

Annual report 2024A · The company itself

“UPPSKATTAD PARTNER FÖR ALLA YRKESVERKSAMMA INOM JURIDIK, SKATT OCH REDOVISNING I Region Nord levereras juridiska lösningar både för online- och offlinemarknaden. De juridiska plattformarna i Danmark och Sverige är ledande på respektive marknad med en kombination av publika datakällor med egenutvecklat innehåll såsom kommentarer från ledande juridiska experter.”

Annual report 2024A · The company itself

“Online and mobile banking have made it easier for customers to withdraw their deposits. Higher than customary withdrawals can raise funding cost, which may reduce Key’s net interest margin and net interest income.”

Annual report 2025A · The company itself

“Successfully competing in our markets also depends on our ability to invest in technology and infrastructure, execute transactions reliably and effectively, maintain and enhance our reputation, and attract, retain, and motivate talented employees, all while prudently managing risks and expenses.”

Annual report 2025A · The company itself

“Our information technology (“IT”) networks and related systems are essential to the operation of our business and our ability to perform day-to-day operations and, in some cases, may be critical to the operations of certain of our tenants. While we maintain some of our own critical IT networks and related systems, we also depend on third parties to provide important software, technologies, tools and a broad array of services and operational functions, including payroll, human resources, electronic communications and finance functions.”

Annual report 2025A · The company itself

“Vi er involvert i aktiviteter som programvare- og produktutvikling, design og prototyping, montering av produkter og systemer, samt produkttesting.”

Annual report 2024A · The company itself

“DATA AND TECHNOLOGY ​ Our business is increasingly dependent on information technology systems that are complex. If we were to experience difficulties maintaining or operating existing systems or implementing new systems, we could incur significant losses due to disruptions in our operations.”

Annual report 2026A · The company itself

“Until our digital transformation is fully complete, we will continue to rely on significant manual processes and procedures that subject us to increased risk of error and internal control failure compared to automated processes.”

Annual report 2025A · The company itself

“The failure to effectively maintain and modernize our IT systems and infrastructure could adversely affect our business. Rapid development cycles and the growth and expansion of our business has created technical debt within our enterprise. As part of our digital transformation, we are modernizing our infrastructure, applications, and information ecosystem, inclusive of cloud migrations, increasing automation and expanding the use of AI.”

Annual report 2025A · The company itself

“Our gaming operations rely heavily on technology services provided by third parties. In the event there is an interruption of these services, it may have an adverse effect on our operations and financial condition.”

Annual report 2025A · The company itself

“Several ERP system deployment stages are in progress at the company. Temporary additional costs related to the deployment of systems and the establishment of the operating model as well as tied-up working capital may weaken the company’s profit.   Lassila & Tikanoja operates in a people-intensive sector and failures in recruiting skilled personnel, the loss of senior managers or other key personnel or other disruptions in the availability of personnel or their work ability may have a negative impact on L&T’s business and it may not be possible to recruit and/  Lassila & Tikanoja’s operations and the services it provides are largely dependent on information networks and digital solutions, and disruptions to them, and breaches or attacks targeting them, as well as any failure of information system development projects and the lack of adequate data processing agreements, may have an adverse impact on L&T’s business and financial position and cause damage to its reputation.”

Annual report 2025A · The company itself

“NATIONAL SECURITY & DIGITAL Our National Security & Digital business provides leading-edge and technologically advanced services, solutions and products across substantially all U.S. federal government customers. Our advanced capabilities allow us to provide technology-enabled services, software capabilities and IT modernization, including: uDigital Modernization and Transformation – We provide worldwide digital support for our nation’s largest and most critical infrastructure. We design, develop, implement, protect and maintain IT environments to provide stability, security and flexibility to mission needs. We also deliver secure, user-centric IT solutions in cloud computing, mobility, application modernization, data center and network modernization, asset management, support desk operations and digital workplace enablement.”

Annual report 2026A · The company itself

“Our efforts to provide an omnichannel experience for our customers include investing in, maintaining, and making ongoing improvements of our existing information systems that support operations, such as sales, inventory replenishment, merchandise ordering, project design and execution, transportation, receipt processing and fulfillment. We also engage third-party vendors for a variety of reasons, including for digital storage technology and content delivery.”

Annual report 2026A · The company itself

“In particular, the Company is undergoing a multi-year technology transformation which includes updating and modernizing our distribution and replenishment systems, as well as certain accounting and finance systems. We may not be able to achieve the anticipated benefits of these investments and may experience operational challenges such as delays or errors in implementation, security failures such as loss or corruption of data, reputational harm, increased costs and other significant disruptions.”

Annual report 2026A · The company itself

“Our business depends significantly on effective and efficient information management systems, and the reliability and security of our information technology infrastructure are essential to the operation, health and expansion of our business. For example, the information gathered and processed by our information management systems assists us in managing our supply chain, financial reporting, monitoring customer accounts, and protecting our proprietary and confidential business information, plans, trade secrets, and intellectual property, among other things.”

Annual report 2026A · The company itself

“Malmbergs verksamhet är beroende av ett effektivt IT-stöd. Störningar i IT-stödet och obehörig åtkomst till informationen kan ge negativa effekter för verksamheten.”

Annual report 2024A · The company itself

“A failure to keep pace with developments in technology could impair our operations or competitive position. The lodging industry continues to demand the use of sophisticated technology and systems, including those used for our reservation, customer relationship management, finance, analytics, revenue management, property management, human resources and payroll systems, our Loyalty Program, and technologies we make available to our guests and for associates, and these and other technologies and systems must be refined, updated, and/or replaced with more advanced systems on a regular basis.”

Annual report 2025A · The company itself

“In the operation of our business, we manage or use sophisticated technology and systems, including those used for our reservation, customer relationship management, analytics, revenue management, property management, human resources and payroll systems, our Loyalty Program, and technologies we make available to our guests and for associates. The cost, speed, accuracy, and efficiency of these technologies and systems are critical aspects of our business and are important considerations for hotel owners when choosing our brands.”

Annual report 2025A · The company itself

“We are undertaking a multi-year transformation of our reservations, property management, and loyalty systems. The development and deployment of our new systems could involve delays, system interruptions, compromises of data security, or other operational impacts, including impacts on our financial reporting or internal control environment.”

Annual report 2025A · The company itself

“Further, a disruption of physical infrastructure could impact our ability to conduct business and service clients. This may include deliberate or unintentional disruption of service to electrical systems, satellite communications, undersea or terrestrial cable systems, Internet services, or other systems our colleagues or third parties rely on us to conduct business in a multitude of jurisdictions across the globe. Disruptions may be the result of weather, natural disaster, war, terrorism, pandemic, or other natural or geopolitical events.”

Annual report 2025A · The company itself

“Certain measures that could increase the security of our systems, such as data encryption (including encryption of data at rest), heightened monitoring and logging, scanning for source code errors or deployment of multi-factor authentication, take significant time and resources to deploy broadly, and such measures may not be deployed in a timely manner or be effective against an attack. The inability to implement, maintain and upgrade adequate safeguards could have a material adverse effect on our business.”

Annual report 2025A · The company itself

“Our increasing reliance on software-as-a-service ("SaaS") cloud solutions and other cloud-based vendors to support critical business operations also exposes us to risks associated with the availability, security, and resilience of these third-party platforms. These arrangements create dependencies on the vendors’ ability to maintain continuous service and protect against outages, disruptions or cyber incidents and on the sufficiency of their security controls and incident response.”

Annual report 2025A · The company itself

“We have numerous vendors and other third parties who receive personal information from us in connection with the services we offer our clients and our employees. We also use hundreds of IT vendors and software providers to maintain and secure our global information systems infrastructure. In addition, we have migrated certain data, and may increasingly migrate data, to the cloud where it is hosted by third-party providers. Some of these vendors and third parties also have direct access to our systems or data.”

Annual report 2025A · The company itself

“We continue to implement our multi-year business transformation initiative to execute significant change to our global processes, capabilities and operating model , including in our Global Business Services (GBS) operating model initiative, in order to provide a scalable platform for future growth, while reducing costs. As technology provides the backbone for greater process alignment, information sharing and scalability, we are also making investments in our information systems, including the multi-year program to replace our enterprise resource planning (ERP) system currently underway, which includes the transformation of our financial processing systems to enterprise-wide systems solutions.”

Annual report 2025A · The company itself

“We utilize cloud-based services and systems and networks managed by third-party vendors to process, transmit and store information and to conduct certain of our business activities and transactions with employees, customers, vendors and other third parties. Our utilization of these cloud-based services and systems will increase as we implement our business transformation initiatives.”

Annual report 2025A · The company itself

“We rely on sophisticated information systems and networks to perform our business operations, such as to obtain, rapidly process, analyze, and manage data that facilitate the purchase and distribution of thousands of inventory items from distribution centers. We provide remote services that involve hosting customer data and operating software on our own or third-party systems.”

Annual report 2026A · The company itself

“To ensure a modern, secure and wellfunctioning IT platform, the company has outsourced its IT management to a professional service provider.”

Annual report 2024A · The company itself

“The Company continues to leverage new and innovative technologies across the enterprise to replace outmoded technology and is beginning a multi-year system upgrade of its SAP system and is working to improve the efficacy and efficiency of its business processes, including data acquisition, the use of which can create new risks. In addition, the Company’s Animal Health business sells technology products that, when deployed, could potentially be compromised by a third party and cause disruption both internally and externally.”

Annual report 2025A · The company itself

“This uncertainty increases the risk that we may incur additional operational costs, face regulatory enforcement actions, or encounter challenges in the development and deployment of our products. • Handling of personal data: Legal requirements relating to the collection, storage, handling, and transfer of personal data globally continue to evolve. The growth of our Internet- and cloud-based services internationally relies on the movement of data across national boundaries. Data protection authorities and governments in the EU and other markets have and may again restrict and/or block the use of services that involve the transfer of data across borders.”

Annual report 2026A · The company itself

“Our product distribution system relies on an extensive partner and retail network. OEMs building devices that run our software have also been a significant means of distribution.”

Annual report 2026A · The company itself

“What We Offer Founded in 1975, we develop and support software, services, devices, and solutions that deliver new value for customers and help people and businesses realize their full potential. We offer an array of services, including cloud-based solutions that provide customers with AI, software, services, platforms, and content, and we provide solution support and consulting services.”

Annual report 2026A · The company itself

“Intelligent Cloud Our Intelligent Cloud segment consists of our public, private, and hybrid server products and cloud services that power modern business and developers. This segment primarily comprises: • Server products and cloud services, including Azure and other cloud services, comprising cloud and AI consumption-based services, GitHub cloud services, Health and Life Sciences cloud services (formerly Nuance Healthcare cloud services), virtual desktop offerings, and other cloud services; and Server products, comprising SQL Server, Windows Server, Visual Studio, System Center, related Client Access Licenses (“CALs”), and other on-premises offerings.”

Annual report 2026A · The company itself

“Azure is a comprehensive set of cloud services that offer developers, IT professionals, and enterprises freedom to build, deploy, and manage applications on any platform or device. Customers can use Azure through our global network of datacenters for computing, networking, storage, mobile and web application services, AI, and Internet of Things.”

Annual report 2026A · The company itself

“We and our competitors continue to devote significant resources to developing and deploying cloud-based strategies and services for consumers and business customers. • Even as we transition more of our business to infrastructure-, platform-, and software-as-a-service business models, the license-based proprietary software model generates a substantial portion of our software revenue.”

Annual report 2026A · The company itself

“Verksamheten är beroende av en väl fungerande och säker IT-infrastruktur. Störningar eller fel i kritiska system har en direkt inverkan på såväl vår produktion och distribution av produkter som vår finansiella rapportering.”

Annual report 2024A · The company itself

“Additionally, our implementation of the ERP system involves greater utilization of third-party cloud computing services in connection with our business operations. Problems faced by us or our third-party cloud computing providers, including technological or business-related disruptions, as well as cybersecurity threats, could adversely impact our business, results of operations and financial condition for future periods.”

Annual report 2025A · The company itself

“We rely heavily on information systems and technology to manage operations and report results. Beginning in the third quarter of 2025, we initiated a multi-year implementation of a global ERP system intended to replace legacy operating and financial systems with a single global system. This system is being designed to maintain accurate financial records, underpin operational capabilities and provide timely information to senior management.”

Annual report 2025A · The company itself

“We may not be successful in implementing new systems and transitioning data, which could cause business disruptions and our remediation efforts may be expensive, time consuming, disruptive and resource-intensive. Such disruptions could adversely impact our ability to fulfill orders in a timely manner and interrupt other processes.”

Annual report 2025A · The company itself

“Maintaining security of information on our and third-party networks and the protection features of the solutions and services we use are both critical to our operations and business strategy. We devote significant resources to network security, data encryption, and other security measures to protect the systems and data.”

Annual report 2025A · The company itself

“We are upgrading our enterprise resource planning system, including implementing SAP S4 HANA with a planned go-live date of January 1, 2028, in order to improve operational efficiency, scalability, and overall business management. These upgrades involve personnel training, data migration, and potential security and stability risks, and any significant delays or failures could disrupt our business and negatively affect our operations and financial results.”

Annual report 2025A · The company itself

“Our business operations rely on our information systems and any material disruption or slowdown of our systems could cause operational delays or loss of revenue. We depend on information systems to, among other things, manage our inventory, process transactions, operate our websites, purchase and ship goods on a timely basis, and maintain cost-effective operations.”

Annual report 2025A · The company itself

“Several other countries in which we operate have established legal requirements for cross-border data transfers. There is also an increasing trend towards data localization policies. Cloud-based solutions may be subject to further regulation with respect to data localization requirements and restrictions on the international transfer of data.”

Annual report 2025A · The company itself

“Further, our company outsources certain business operations, including, but not limited to IT, network connectivity, HR information systems, manufacturing, repair, distribution and engineering services. We are dependent, in certain instances, upon our outsourced business partners, suppliers, and customers to adequately protect our IT systems and those IT systems that we manage for our customers, including the hosts of our cloud infrastructure on top of which our cloud-based solutions are built, as well as the network connectivity upon which some of our services are built.”

Annual report 2025A · The company itself

“We believe that governments, public safety agencies and enterprises are increasingly turning to scalable, cloud-based multi-factor authentication access control to make their facilities more secure.”

Annual report 2025A · The company itself

“The strength and resiliency of our technology in meeting the advancing demands of our global customer base is vital to the continued success of our business and distinguishes us from our competitors. We strive to be a trusted partner to a diverse range of clients that participate across the global financial ecosystem.”

Annual report 2025A · The company itself

“AWS operates a platform that we use to provide exchange and other services to our clients, and therefore we are vulnerable to service outages on the AWS platform that affect Nasdaq workloads running or stored in the AWS environment. While certain of our offerings were affected by the AWS outage in October 2025, the outage did not affect trading on our exchanges.”

Annual report 2025A · The company itself

“The following table presents key drivers for our Capital Markets Technology business: Year Ended December 31, 2025 2024 2023 (in millions) ARR $975 $868 $799 Quarterly annualized SaaS revenues Capital Markets Technology revenues increased for the year ended December 31, 2025 compared with the same period in 2024. The increase was primarily due to higher revenues related to data center growth and higher subscription revenues from new sales and price increases to existing clients.”

Annual report 2025A · The company itself

“We rely on third parties for regulatory, data center, cloud computing, data storage and processing, connectivity, data content, clearing, maintaining markets and exchange liquidity and other services.”

Annual report 2025A · The company itself

“Technology and communication infrastructure expense increased for the year ended December 31, 2025 compared with the same period in 2024 primarily due to increased investment in technology, particularly our cloud initiatives and software licensing.”

Annual report 2025A · The company itself

“During 2025, Nasdaq continued its shift from traditional onpremises deployments by utilizing and deploying cloud infrastructure. We believe that migrating our exchanges and non-exchange workloads to the cloud, through our partnership with AWS, will result in improved performance and increased flexibility for our customers.”

Annual report 2025A · The company itself

“To facilitate the exchange migration to AWS, Nasdaq continues to leverage its Fusion technology platform. Fusion positions Nasdaq’s North American and European derivatives markets to manage, operate and deploy a common platform that can be used across our nine Nasdaq derivative markets, while enabling our markets for cloud deployment.”

Annual report 2025A · The company itself

“Service och eftermarknad har stärkts genom digitala lösningar, inklusive fjärrövervakning och IoT-baserade tjänster, vilket har möjliggjort nya affärsmodeller.”

Annual report 2024A · The company itself

“Produktprogrammet utvecklas löpande och tillsammans med Insight täcker det nu en stor del av koncernens samlade kundoch industrisegment Erbjudande Divisionen utvecklar och säljer produkter och system för laserbaserad mätning av gaser (NEO Monitors), produkter och system för analys av utsläpp baserad på infraröd mätteknologi (Gasmet), system för kontinuerlig partikelövervakning (Auburn FilterSense) samt system för mätning och utsläppsrapportering (Olicem). Det digitala erbjudandet byggs på en egenutvecklad IoT-plattform (Nederman Insight) som förser kunderna med information om kritiska parametrar och processer.”

Annual report 2024A · The company itself

“Flera nya affärskritiska system implementerades i slutet av andra kvartalet, vilket har gett oss markant ökad flexibilitet i hur vi optimerar hela kundupplevelsen samt effektiviserar interna processer. Detta var ett viktigt steg i den långsiktiga plan som sattes i slutet av 2023 att successivt övergå från Nellys egenbyggda lösningar till modernare och stabilare tredjepartssystem och som tidigare kommunicerat kommer detta arbete fortsätta med oförminskad hastighet under stora delar av 2025.”

Annual report 2024A · The company itself

“Internal controls and systems Netcompany operates an integrated business, however part of the Group has been operating outside of the Group IT platform (NBS). This increases the risk of errors and adds complexity to the control environment.”

Annual report 2025A · The company itself

“Opportunity Access to products and services Unplanned downtime may impact the technical availability of systems, affecting consumers’ access to quality information. Potential negative impact Non-discrimination Increasing digitalisation present the potential to exacerbate the digital divide, which could disadvantage certain populations across Europe.”

Annual report 2025A · The company itself

“Access to products and services For all solutions we host, we have a robust incident response protocol to manage and mitigate any service disruptions. In the event of a system failure or downtime, our team acts immediately to resolve the issue.”

Annual report 2025A · The company itself

“Our integrated procedures and systems involve designated roles across our organisation, dedicating time and resources to training colleagues and clients, quality review of deliverables and issue mitigation. These activities represent a substantial investment of personnel time, even if they do not require significant capital expenditure.”

Annual report 2025A · The company itself

“Byte av IT-system Under 2024 har Netel bytt affärssystem för rapportering, uppföljning och projektredovisning inom de flesta delar av koncernen utom Telekom i Norge samt Storbritannien och Tyskland.”

Annual report 2024A · The company itself

“NNIT is a trusted Danish IT and consulting partner with a global footprint across Europe, the US, and Asia.”

Annual report 2025A · The company itself

“Data av hög kvalitet är helt avgörande för att förstå kundernas behov och utveckla produkter och tjänster som är mer personanpassade och relevanta. Därför investerar vi för att ytterligare förbättra vår datahantering.”

Annual report 2025A · The company itself

“Kostnaderna ökade med 5procent jämfört med 2024, till följd av strategiska investeringar på viktiga områden såsom teknik, data, AI och riskhantering.”

Annual report 2025A · The company itself

“Kostnaderna ökade med 2 procent jämfört med 2024 till följd av strategiska investeringar på områden såsom teknik, data och AI.”

Annual report 2025A · The company itself

“2025 genomgick styrelseledamöterna cirka 14 timmar utbildning som en del av den årliga utbildningsplanen.”

Annual report 2025A · The company itself

“Vi har kortlagt al internt og eksternt serverhosting for at få et overblik over det faktiske emissionsudslip”

Annual report 2025A · The company itself

“Udviklingen var påvirket af, at opbygning af egen salgsorganisation og indgåelse af kundeaftaler tog mere tid end forventet, samt af et ændret produktmiks.”

Annual report 2025A · The company itself

“I 2026 vil Karman Connect fortsat investere i optimering af IT-infrastrukturen bag begge forretningsområder, samt i yderligere kommercialisering af Consumer Services i Danmark og i andre markeder, hvor forretningen for låneformidling allerede er til stede.”

Annual report 2025A · The company itself

“Reliance on mobile or cloud technology or any failure by mobile technology and cloud service providers to adequately safeguard their systems and networks and prevent cyber-attacks or other information security incidents could disrupt our operations or the operations of our or their service providers and result in misappropriation, corruption or loss of personal, confidential, proprietary, or other sensitive information or the inability to conduct ordinary business operations.”

Annual report 2025A · The company itself

“Our businesses depend on information technology infrastructure, both internal and external, to record and process, among other things, a large volume of increasingly complex transactions and other data, in many currencies, on a daily basis, across numerous and diverse markets and jurisdictions. Due to our dependence on technology and the important role it plays in our business operations, combined with the increasing sophistication and frequency of potential cyber-attacks and other information security incidents, we must constantly improve and update our information technology infrastructure. Upgrading, replacing, and modernizing these systems can require significant resources and often involves implementation, integration and security risks that could cause financial, reputational, and operational harm.”

Annual report 2025A · The company itself

“To support the organisation, a modernised and flexible IT platform will boost productivity through select IT investments, development of business centres, and rigorous supply chain management.”

Annual report 2024A · The company itself

“IT-relaterade störningar kan leda till produktionsstillestånd, faktureringsbortfall och/eller minskad effektivitet inom administration och försäljning. NOTEs verksamhet kräver väl fungerande IT-system.”

Annual report 2024A · The company itself

“The Company’s usage of third-party AI models, platforms, or cloud services introduces additional risks, including performance failures, service outages, and insufficient indemnities.”

Annual report 2025A · The company itself

“The Company also relies on a number of sole or limited source suppliers for critical components for its smart home products and services, and those services are dependent on third-party cellular, telecommunications and/or internet providers.”

Annual report 2025A · The company itself

“Strong IT infrastructure Standardised ERP platform”

Annual report 2025A · The company itself

“In addition, our information technology systems, infrastructure, and personnel require substantial investments, such as replacing systems, maintaining or enhancing systems, or designing or acquiring new systems or functionality, including artificial intelligence.”

Annual report 2025A · The company itself

“Our information technology systems also depend upon the Internet, third-party service providers, global communications providers, satellite-based communications systems, the electric utilities grid, electric utility providers and telecommunications providers. We have minimal control over the operation, quality, or maintenance of these services or whether vendors will improve their services or continue to provide services that are essential to our business.”

Annual report 2025A · The company itself

“These efforts, including the continued transition to and implementation of the new enterprise resource planning system and related systems, could result in significant potential risks, including failure of the systems to operate as designed, unexpected impacts on related systems or processes, potential loss or corruption of data, failures in security processes and internal controls, cost overruns, implementation delays or errors, disruption of operations, and the potential inability to meet business and reporting requirements.”

Annual report 2025A · The company itself

“Some of these systems are managed or provided by third-party service providers, including certain cloud platform providers. Failure by these third-party service providers to meet their contractual, regulatory and other obligations to us, or our failure to adequately monitor their performance, could result in our inability to achieve expected efficiencies and result in additional costs to correct errors made by such service providers.”

Annual report 2025A · The company itself

“Problem och störningar i bolagets IT-system kan leda till att verksamheten under en viss tid inte kan bedrivas som planerat, exempelvis till följd av produktionsavbrott eller av att åtkomsten till information försvåras eller helt begränsas. Omfattningen av den skada som kan uppstå beror främst på omfattningen och tidsutdräkten av driftstörningarna.”

Annual report 2024A · The company itself

“Yhtiön toiminta on entistä riippuvaisempi IT-järjestelmistä. Häiriöt yhtiön tietojärjestelmissä voivat vaikuttaa haitallisesti sen liiketoimintaan useilla tavoilla kuten raportoinnin, myynnin, tuotannon ja kassavirtojen kautta.”

Annual report 2025A · The company itself

“Table of Contents Our products and services may not function properly if we experience significant coding, manufacturing or configuration errors in our cloud, software and hardware offerings. Despite testing prior to the release and throughout the lifecycle of a product or service, our cloud, software and hardware offerings sometimes contain coding, manufacturing or configuration errors that can impact their function, performance and security, and result in other negative consequences.”

Annual report 2026A · The company itself

“Our products and services, including Oracle Cloud, store, retrieve, process and manage third-party data, such as our customers’ data, as well as our own data.”

Annual report 2026A · The company itself

“If we do not successfully execute our Oracle Cloud strategy, including our offerings of Oracle Cloud, our revenues and profitability may decline. We provide our cloud and other offerings to customers worldwide via a variety of deployment models, including via our cloud-based OCA and OCI offerings.”

Annual report 2026A · The company itself

“These models include cloud-based, on-premise and hybrid deployments, such as Oracle Exadata Cloud@Customer and multicloud options that enable customers to use Oracle cloud offerings in conjunction with other public clouds.”

Annual report 2026A · The company itself

“For example, we offer our customers multicloud services whereby our customers can combine cloud services from multiple clouds with the goal of optimizing cost, functionality and performance. OCI’s multicloud services work with a number of our competitors’ products, including Microsoft Azure, Amazon Web Services and Google Cloud.”

Annual report 2026A · The company itself

“Business Oracle provides products and services that build, run and support enterprise information technology (IT) frameworks. Our products and services include enterprise applications and infrastructure offerings that incorporate and are enhanced by artificial intelligence (AI) technologies, including embedded AI-driven automation and analytics and generative AI capabilities.”

Annual report 2026A · The company itself

“Our cloud and software business engages in the sale, marketing and delivery of our enterprise applications and infrastructure technologies through cloud and on-premise deployment models, including our cloud offerings and our software offerings.”

Annual report 2026A · The company itself

“Oriola’s distribution capabilities rely on well-functioning distribution centres with automation and information systems.”

Annual report 2025A · The company itself

“Business service-selskaper Business service-selskaper innen IT, Innkjøp og finansielle tjenester opprettholder viktige synergier.”

Annual report 2024A · The company itself

“Det er gjort strategiske grep for å harmonisere systemer med utrulling av felles teknologiløsning.”

Annual report 2024A · The company itself

“Our business and financial performance depend on continued substantial investment in information technology infrastructure, which may not yield anticipated benefits, and may be adversely affected by cyberattacks on information technology infrastructure and products and other business disruptions. The efficient operation of our business requires continued substantial investment in technology infrastructure systems, including partial shifting from virtual private networks to cloud-based networks, and we must attract and retain qualified people to operate these systems, expand and improve them, integrate new systems effectively and efficiently convert to new systems when required.”

Annual report 2025A · The company itself

“As part of providing services to customers, we rely on a number of third-party service providers. These third-party service providers include, but are not limited to, banks used to electronically transfer funds from clients to their employees, information technology vendors servicing cloud-based platforms, and other third-party providers supporting customer interactions.”

Annual report 2026A · The company itself

“Overview We are an industry-leading human capital management (“HCM”) company providing comprehensive technology and advisory solutions in human resources (“HR”), payroll processing, employee benefits, and insurance.”

Annual report 2026A · The company itself

“Our service platforms enable our customers to store and process personal data on premises or, increasingly, in a cloud-based environment that we host.”

Annual report 2026A · The company itself

“The technology infrastructure supporting our payments platform is designed to simplify the storage and processing of large amounts of data and facilitate the deployment and operation of large-scale global products and services whether hosted by third-party cloud service providers or our own data centers.”

Annual report 2025A · The company itself

“We continue to make multi-year investments in our technology infrastructure, including those associated with cloud-related initiatives, intended to support the scalability, resiliency, and efficiency of our payments platform.”

Annual report 2025A · The company itself

“We rely on third parties in many aspects of our business, including, but not limited to, networks, banks, payment processors, and payment gateways that link us to the payment card and bank clearing networks to process transactions; unaffiliated third-party lenders to originate U.S. credit products to consumers, U.S. merchant financing, and branded credit card products; branded debit card and savings products issued by unaffiliated banks; cryptocurrency custodial service providers; and external business partners and contractors who provide key functions (including, but not limited to, data center facilities and cloud computing, IT, and outsourced customer support, accounting, human resources, and product development functions).”

Annual report 2025A · The company itself

“We depend on information systems and technology, including public websites and cloud-based services, for many activities important to our business, including communications within our company, interfacing with customers and consumers; ordering and managing inventory; managing and operating our facilities; protecting confidential information, including personal data we collect; maintaining accurate financial records and complying with regulatory, financial reporting, legal and tax requirements.”

Annual report 2025A · The company itself

“We rely on third-party service providers, including software and cloud data service providers, for certain areas of our business, including procurement, supply chain, manufacturing, distribution, information technology support services and administrative functions (such as payroll processing, health and benefit plan administration and certain finance and accounting functions).”

Annual report 2025A · The company itself

“Secure & Custom Solutions: In 2024, Pexip’s modern self-hosted Infinity platform, which powers the solutions for secure and custom meetings, experienced significant growth.”

Annual report 2024A · The company itself

“Pexip solutions are software-only and can be selfhosted or utilized as a service.”

Annual report 2024A · The company itself

“Den omfattande uppgraderingen av vår teknikstack, där vi byter vår ehandelsplattform, vårt lagerhanteringssystem, vår kunddataplattform och gör en stor uppgradering av vårt PIM-system, syftar till att införa en modern och skalbar struktur för att stödja framtida tillväxt och kundlojalitet.”

Annual report 2024A · The company itself

“I segmentet för kraftproduktion har vi har sett en ökad aktivitet på marknaden. Många företag och myndigheter har insett att de behöver ett säkert och pålitligt kraftproduktionssystem som också är hållbart. Till exempel data-, telekom- och fastighetsbolag är intresserade av tillförlitliga reservkraftsystem utan utsläpp.”

Annual report 2024A · The company itself

“Some jurisdictions mandate in-country data storage, increasing compliance costs. This may result in higher compliance and technology expenses, as well as the suboptimization of business processes.”

Annual report 2025A · The company itself

“We face risks arising from vendor failures or data breaches. Our operations increasingly depend on a network of third party vendors, many of whom rely on additional subcontractors or fourth party providers. This extended dependency can lead to a rise in service disruptions and performance failures, particularly in areas critical to financial services such as technology infrastructure, data processing and customer support.”

Annual report 2025A · The company itself

“We increasingly rely on the internet to conduct business and may be adversely impacted by outages in critical infrastructure such as electric grids, undersea cables, satellites or other communications used by us or our third parties.”

Annual report 2025A · The company itself

“Funktioner som inte hör till kärnverksamheten, så som produktion, lager, logistik, redovisning, IT-tjänster samt reparationer, outsourcas.”

Annual report 2024A · The company itself

“Our CDO joined PTC as Chief Digital and Information Officer in January 2022 and is responsible for PTC’s global information technology (IT) team, overseeing PTC’s digital infrastructure and working with business leaders to guide PTC’s digital process optimization strategy. He has more than two decades of IT and operations leadership.”

Annual report 2025A · The company itself

“Additionally, the technology we use to protect our systems from being breached or compromised could become outdated as a result of advances in computer capabilities or other technological developments, thereby requiring us to make further investments in capital or other resources to protect us against cyber-attacks, the cost of which could be significant.”

Annual report 2026A · The company itself

“If there are interruptions or performance problems associated with our technology or infrastructure, our existing software customers may experience service outages, and our new customers may experience delays in the deployment of our platforms. We depend on services from various third parties as well as our own technical operations infrastructure to distribute our Residential Care Software products via the internet. If a service provider fails to provide sufficient capacity to support our platforms or otherwise experiences service outages, such failure could interrupt our customers’ access to our service, which could adversely affect their perception of our platform’s reliability and our revenues. Any disruptions in these services, including as a result of actions outside of our control, would significantly impact the continued performance of our Residential Care Software products.”

Annual report 2026A · The company itself

“AND SUBSIDIARIES •Our business depends on our ability to effectively educate and engage dealers of home healthcare products, sleep clinics and physicians, health care providers, and patients regarding the benefits of our products, software solutions and services. •The success of our software offerings depends substantially on customers entering, renewing, upgrading and expanding their agreements for cloud services, term licenses, and maintenance and support agreements with us. Any decline in our customer renewals, upgrades or expansions could adversely affect our future operating results. •If our software products fail to perform properly or if we fail to develop enhancements, we could lose customers, become subject to service performance or warranty claims and our sales could decline.”

Annual report 2026A · The company itself

“The success of our software offerings depends substantially on customers entering, renewing, upgrading and expanding their agreements for cloud services, term licenses, and maintenance and support agreements with us. Any decline in our customer renewals, upgrades or expansions could adversely affect our future operating results. We typically enter into term-based agreements for our licensed on-premises offerings, cloud services, and maintenance and support services, which customers have discretion to renew or terminate. To improve our operating results, it is important that new customers enter into renewable agreements, and our existing customers renew, upgrade and expand their term-based agreements when the initial contract term expires.”

Annual report 2026A · The company itself

“If we experience a significant disruption in, or breach in security of, our information technology systems or those of our customers, suppliers or other third parties, or cybercrime, resulting in inappropriate access to or inadvertent transfer of information or assets or result in a ransom demand from a third party, or if we fail to implement new systems, software and technologies successfully, our business could be adversely affected. We rely on several centralized information technology systems throughout our company to develop, manufacture and provide products and services, keep financial records, process orders, manage inventory, process shipments to customers and operate other critical functions.”

Annual report 2025A · The company itself

“We may experience difficulties integrating, streamlining and optimizing our information technology (“IT”) systems and processes. We have invested in, and expect to continue to invest in, new systems and technology to implement new or improve existing business capabilities and streamline business processes, financial reporting, and acquisition integration. Many of these efforts impact customers, suppliers, employees, and others, and any disruption or failure could adversely affect our business and operations.”

Annual report 2025A · The company itself

“Our increasing reliance on cloud-based platforms, third-party software providers, managed service providers, and emerging technologies, increases the complexity of our IT environment and may expose us to additional risks. Failures, interruptions, 12 Table of Contents security incidents, or performance issues involving third-party systems or technologies on which we rely could disrupt operations, impair customer service, delay billing or collections, or result in increased costs and reputational harm.”

Annual report 2025A · The company itself

“We rely on business partners such as third-party data centers and cloud platforms, such as Amazon Web Services, Google Cloud Platform, Microsoft Azure, and Oracle Cloud to host certain enterprise and customer systems. Our software development and business operations rely on open-source components, third-party software libraries, and vendor dependencies that could contain undisclosed vulnerabilities, be subject to supply chain attacks, or become unavailable, potentially affecting our products, hosted services, and internal systems.”

Annual report 2025A · The company itself

“We depend on the integrity, continuous availability, and consistent operations of these systems to process transactions in our stores, track inventory flow, manage merchandise allocation and distribution logistics, generate performance and financial reports, and support merchandising decisions.”

Annual report 2026A · The company itself

“We are currently making, and will continue to make, technology investments to improve or replace information processes and systems that are key to managing our business. We must monitor and choose sound investments and implement them at the right pace. The risk of system disruption is increased whenever significant system changes are undertaken.”

Annual report 2026A · The company itself

“We have continued to expand digital capabilities into our operations and have increased our focus in bringing data analytics and artificial intelligence into our processes to provide better insights for revenue management as well as in how to model our maintenance or operational actions. Our entire fleet is equipped with Starlink through our partnership with SpaceX, bringing the next generation in shipboard connectivity and unlocking an improved guest experience.”

Annual report 2025A · The company itself

“Investments in our core platforms, as well as the trade and direct distribution channels, are delivering the benefit of more modernized solutions with scalability and faster self-service response times while also deploying new features and additional promotional offer capabilities.”

Annual report 2025A · The company itself

“Our CAPEX programs will continue into 2026 to drive efficiency, with a group-wide IT upgrade to SAP S/4HANA as one of our key priorities.”

Annual report 2025A · The company itself

“Risker relaterade till Bolagets IT-system Bolaget är beroende av välfungerande IT-system som Bolaget eller någon av dess externa leverantörer använder för att behandla, överföra och lagra elektronisk information i sin dagliga verksamhet. I samband med sitt produktutvecklingsarbete kan Bolaget komma att samla in olika typer av äganderättsligt skyddad, känslig och konfidentiell information, inklusive personuppgifter och information om kliniska studier.”

Annual report 2024A · The company itself

“Bland årets höjdpunkter finns den framgångsrika implemen - teringen av Oracle Opera Cloud, lanseringen av vårt nya lojalitetsprogram Scandic Friends och etableringen av ett strategiskt partnerskap med SAS.”

Annual report 2024A · The company itself

“In addition, we also rely upon third-party hosted infrastructure partners globally to serve customers and operate certain aspects of our business or services. Any disruption of or interference at our hosted infrastructure partners would impact our operations and our business could be adversely impacted.”

Annual report 2026A · The company itself

“Övervakning/fjärrtjänster Vi erbjuder larmövervakning av den installerade systembasen. Övervakningen och övriga fjärrtjänster utförs av operatörerna på Securitas Operations Center (SOC), och det finns minst en SOC i varje land. Denna försäljning är icke säsongsbetonad månatliga återkommande intäkter, det vill säga portföljbaserad eller abonnemangsbaserad försäljning.”

Annual report 2024A · The company itself

“Säkerhetslösningar baserade på kundens behov skapas genom olika kombinationer av platsanknuten bevakning, mobil bevakning och fjärrövervakning, teknik och säkerhetslösningar, brandskydd och trygghetslösningar samt riskhantering för företag.”

Annual report 2024A · The company itself

“TetraGraph har nu smidig anslutning till monitorer från Philips Healthcare, Masimo, GE Healthcare och Fukuda Denshi med vidare integration till elektroniska patientjournaler.”

Annual report 2024A · The company itself

“Sedan många år har Senzime ett nära samarbete med Philips Healthcare.”

Annual report 2024A · The company itself

“Sedan juni 2022 har Senzime ett strategiskt connectivity- och licensavtal med det amerikanska bolaget Masimo. Avtalet ger Senzime rätt att använda vissa immateriella rättigheter från Masimo i syfte att utveckla, tillverka, marknadsföra och distribuera produkter som kan ansluta till Masimos patientövervakningssystem.”

Annual report 2024A · The company itself

“Sedan 2024 har Senzime ett samarbete med GE för uppkoppling till deras patientmonitorer, vilket möjliggör överföring av patientdata mellan systemen.”

Annual report 2024A · The company itself

“Väsentliga händelser efter årets utgång Senzime når en andra milstolpe i samarbetet med Masimo genom integration till Masimo Iris ® Gateway. Den nya lösningen möjliggör automatisk överföring av data mellan TetraGraph-systemet och externa patientjournalsystem.”

Annual report 2024A · The company itself

“Under 2024 vidareutvecklades den molnbaserade plattformen för att ge kunderna bättre tillgång till era produktlinjer och smidigare tillgång till epost, meddelanden och konversationskanaler, göra det möjligt för plattformen att växa mer effektivt och hantera ökande trakvolymer samt för att öka produktlinjernas kapacitet till nya geograska områden.”

Annual report 2024A · The company itself

“Stora teknikplattformar som Salesforce, Adobe och SAP använder Sinch-lösningar för digital kundkommunikation för att driva sina egna applikationer, så att deras FoU-team får möjlighet att koncentrera sig på utveckling av kärnteknik samtidigt som de integrerar klassledande och konsekvent global kommunikation i sina erbjudanden.”

Annual report 2024A · The company itself

“Although the renewal needs of municipal infrastructure and aging IT systems were clear, budgetary limitations delayed larger investment decisions.”

Annual report 2025A · The company itself

“Risks relating to rising costs A rise in costs, such as in wage levels, ICT or premises costs, can have a negative impact on Sitowise’s profitability and financial performance if it cannot revise the prices of its services accordingly.”

Annual report 2025A · The company itself

“Jonas Ahlström: Vi har gjort betydande investeringar för att stärka våra förmågor inom många områden såsom teknik, regelefterlevnad och förebyggande av finansiell brottslighet. Vi anser att det krävs bättre samordning och anpassning av hur vi arbetar tillsammans för att få ut den fulla potentialen av dessa investeringar.”

Annual report 2024A · The company itself

“Ompröva sättet vi producerar och distribuerar produkter och tjänster • Förbättrade tillgänglighet och tillgång till bankfunktionalitet genom Open Banking, API:er och mobilappar. • Förbättrade stödet för användandet av molntjänster.”

Annual report 2024A · The company itself

“Dessa insatser är en del av vårt arbete för att möta gästernas höga förväntningar på kvalitet och service, samtidigt som vi effektiviserar verksamheten.”

Annual report 2024A · The company itself