USD vs DKK/EUR

“The Company’s financial statements are denominated in U.S. dollars and, as noted above, the Company derives a significant percentage of its revenues from outside the United States. As a result, the Company’s results of operations and its ability to realize projected growth rates in sales and earnings could be materially adversely impacted if the U.S. dollar strengthens significantly against foreign currencies, and the Company's results of operations may experience volatility related to changes in exchange rates.”

Annual report 2025A · The company itself

“In 2024 and 2025, the Argentine peso devalued against the USD by approximately 22% and 29%, respectively, and Argentina’s economy continued to be highly inflationary.”

Annual report 2025A · The company itself

“While the Consolidated Financial Statements are reported in U.S. dollars, the financial statements of several of our subsidiaries outside the U.S. are prepared using the local currency as the functional currency and translated into U.S. dollars by applying appropriate exchange rates. As a result, fluctuations in the exchange rate of the U.S. dollar relative to the local currencies where our foreign subsidiaries report could cause significant fluctuations in our results.”

Annual report 2025A · The company itself

“This was further impacted by the weakening of the US Dollar against the Euro, which reduced the Euro-equivalent value of USD-denominated revenues.”

Annual report 2025A · The company itself

“Continued pricing pressure and a weaker US dollar negatively impacted margins in the LC ferrochrome business despite ongoing cost-optimization measures.”

Annual report 2025A · The company itself

“Our margins are still under pressure While the market price for Lc Fe-Cr started to show more sustained improvements in the last quarter 2025, the falling USD exchange rate has wiped out most of the positive effect. Low Carbon Ferrochrome continues to be a USD commodity.”

Annual report 2025A · The company itself

“The continuing difference between U.S. dollar and Japanese yen interest rates also contributes to costs of hedging foreign currency exchange risk of U.S. dollar-denominated investments held by Aflac Japan.”

Annual report 2025A · The company itself

“In spite of recent decreases in interest rates in the U.S. and other regions and interest rate increases in Japan, interest rates in Japan remain lower than in the U.S., and the Company's overall level of investment income will continue to be negatively impacted from Japan’s low interest rates from investments made in prior periods at lower rates and from decreasing rates in the U.S.”

Annual report 2025A · The company itself

“Valuations of the Company's derivatives fluctuate with changes in underlying market variables, such as interest rates and foreign exchange rates. During periods of market turbulence created by political instability, economic uncertainty, government interventions or other factors, the Company may experience significant changes in the volatility of its derivative valuations.”

Annual report 2025A · The company itself

“Corporate and Other The Company is exposed to currency risk when Japanese yen funds are converted into U.S. dollars. This occurs when Japanese yen-denominated funds are paid as dividends and management fees from Aflac Japan to the Parent Company and with quarterly settlements of internal reinsurance transactions.”

Annual report 2025A · The company itself

“The Company may use a portion of the Japanese yen dividend and management fee payments to service Aflac Incorporated's Japanese yen-denominated notes payable with the remainder converted into U.S. dollars.”

Annual report 2025A · The company itself

“Aflac Japan’s investment strategy includes U.S. dollar-denominated investments. This program includes public investment-grade bonds as well as U.S. dollar-denominated investment-grade commercial mortgage loans, middle market loans, infrastructure debt, collateralized loan obligations and other loan types, high yield bond and public and private equities.”

Annual report 2025A · The company itself

“The majority of our sales are denominated in foreign currencies as they are derived outside the United States. Therefore, financial results will be affected by changes in foreign currency rates.”

Annual report 2025A · The company itself

“The Chinese Renminbi and the Euro represent the largest exposures in terms of our foreign earnings.”

Annual report 2025A · The company itself

“We estimate that a 10% reduction in either the Chinese Renminbi or the Euro versus the U.S. Dollar would lower our annual operating income by approximately $50 and $34, respectively.”

Annual report 2025A · The company itself

“Our international revenue, as well as costs and expenses denominated in foreign currencies, expose us to the risk of fluctuations in foreign currency exchange rates against the U.S. dollar. Accordingly, we are subject to foreign currency risk, which may adversely impact our financial results.”

Annual report 2025A · The company itself

“•Our business could suffer if we are not successful in executing our strategy and initiatives in connection with our comprehensive review of our cost and operating structure. •We are exposed to fluctuations in currency exchange rates, which may adversely affect our operating results and net income. •Significant or prolonged periods of higher interest rates may have an adverse effect on our results of operations, financial condition and cash flows. •Inflationary trends in the price of our input costs, such as raw materials, transportation and energy, could adversely affect our business and financial results. •Changes in, or the interpretation of, tax legislation or rates throughout the world could materially impact our results. •Future events may impact our deferred tax asset position and U.S. deferred federal income taxes on undistributed earnings of international affiliates that are considered to be indefinitely reinvested.”

Annual report 2025A · The company itself

“The primary currencies to which we have foreign currency exchange rate exposure are the Chinese Renminbi, Euro and Australian Dollar.”

Annual report 2025A · The company itself

“The ASPs of our products, particularly the Invisalign System, are influenced by numerous factors, including the mix of product treatment packages, geographical mix, channel mix and timing of products sold, promotions and discounts, inflation and foreign currency exchange rates. In addition, we sell our products at different prices and with varying shipping and handling charges or processing fees that may differ by country.”

Annual report 2025A · The company itself

“We enter into foreign currency forward contracts for currencies where we have exposures, primarily the Euro, British Pound, Chinese Yuan, Polish Zloty and Canadian Dollar, to minimize the short-term impact of foreign currency exchange rate fluctuations on certain assets and liabilities.”

Annual report 2025A · The company itself

“Currency exchange rate fluctuations have had, and may continue to have, an adverse effect on our business, financial condition, results of operations and cash flows. We are exposed to a variety of market risks, including the effects of changes in currency exchange rates.”

Annual report 2025A · The company itself

“We Have Foreign Exchange Risk The results of operations of, and certain of our intercompany balances associated with, our international stores and product and service offerings are exposed to foreign exchange rate fluctuations. Due to these fluctuations, operating results may differ materially from expectations, and we may record significant gains or losses on the remeasurement of intercompany balances.”

Annual report 2025A · The company itself

“We also hold cash equivalents and/or marketable securities in foreign currencies such as British Pounds, Canadian Dollars, Euros, and Japanese Yen. When the U.S. Dollar strengthens compared to these currencies, cash equivalents, and marketable securities balances, when translated, may be materially less than expected and vice versa.”

Annual report 2025A · The company itself

“Estimate of the effect of a weakening of 10% relative to the Danish krone”

Annual report 2025A · The company itself

“Approximately 51% of Ambu’s total revenue is invoiced in USD.”

Annual report 2025A · The company itself

“EBIT margin was negatively impacted by external factors that included tariff costs of more than DKK 40m and a limited impact from FX mainly due to USD/DKK development, which is being naturally hedged.”

Annual report 2025A · The company itself

“Approximately 51% of Ambu’s total revenue is invoiced in USD. Furthermore, approximately 31% of revenue is invoiced in EUR or DKK, and approximately 8% is invoiced in GBP, while the remaining 10% is invoiced in other currencies. Production and capacity costs are predominantly settled in USD, DKK, EUR, MYR, and CNY.”

Annual report 2025A · The company itself

“International sales for 2025 and 2024 represented 48.2% and 47.4% of our consolidated net sales, respectively.”

Annual report 2025A · The company itself

“Furthermore, fluctuations in foreign currency exchange rates, including changes in the relative value of currencies in the countries where we operate, subject us to exchange rate exposure and may adversely affect our 12 Table of Contents financial statements. For example, increased strength in the U.S. dollar will increase the effective price of our products sold overseas, which may adversely affect sales or require us to lower our prices.”

Annual report 2025A · The company itself

“The Company’s financial performance is subject to risks associated with changes in the value of the U.S. dollar relative to local currencies. The Company’s primary exposure to movements in foreign exchange rates relates to non–U.S. dollar–denominated sales, cost of sales and operating expenses worldwide.”

Annual report 2025A · The company itself

“The weakening of foreign currencies relative to the U.S. dollar adversely affects the U.S. dollar value of the Company’s foreign currency–denominated sales and earnings, and generally leads the Company to raise international pricing, potentially reducing demand for the Company’s products.”

Annual report 2025A · The company itself

“Accordingly, significant changes in currency exchange rates, particularly the Euro, Chinese Yuan (Renminbi) and Mexican Peso, could cause fluctuations in the reported results of our businesses’ operations that could negatively affect our results of operations.”

Annual report 2025A · The company itself

“During the year ended December 31, 2025, the foreign currency translation adjustment gains of $310 million was primarily due to the impact of a weakening U.S. dollar, which decreased approximately 13% in relation to the Euro and approximately 2% in relation to the Chinese Yuan Renminbi from December 31, 2024.”

Annual report 2025A · The company itself

“Valutarisken är den mest väsentliga marknadsrisken där koncernen utsätts för såväl transaktionsrisk som omräkningsrisk.”

Annual report 2024A · The company itself

“Outside the U.S., the Company’s most significant currency is the Euro. The Company estimates that 27% of its consolidated net sales will be denominated in Euro or other European currencies during 2025, while 18% of its consolidated net sales are estimated to be denominated in U.S. dollars. The Company estimates that a 1% increase in the value of the U.S. dollar versus European currencies will decrease reported U.S. dollar annual net sales in 2025 by $28 million, while operating income for 2025 will decline by $3 million, assuming reported corporate average margin.”

Annual report 2024A · The company itself

“We generate a meaningful portion of our net sales and profit outside the U.S. and currency exchange rates have been especially volatile in recent years. As a result, currency fluctuations have affected, and may continue to affect, the reported value of our assets and liabilities, as well as our cash flows and results of operations.”

Annual report 2025A · The company itself

“Den fortsatt svaga valutan bidrar till ökade importkostnader, som delvis påverkar priserna.”

Annual report 2024A · The company itself

“Koncernen påverkas av omräkning av utländska dotterbolagens resultat- och balansräkningar till svenska kronor (SEK).”

Annual report 2024A · The company itself

“Koncernens största valutaexponering är mot USD samt EUR där USD påverkar varukostnaden medan EUR primärt påverkar omsättningen samt omkostnader. Koncernens transaktionsrisk består i att Björn Borg huvudsakligen säljer i SEK och EUR medan inköp primärt sker USD, men även i EUR.”

Annual report 2024A · The company itself

“Under året har realiserade och orealiserade kursdifferenser påverkat rörelseresultatet negativt med - 2 888 TSEK ( 2 100).”

Annual report 2024A · The company itself

“Effekten av en förändrad USD ger endast en marginell påverkan på omsättningen men en stark påverkan på rörelseresultatet och eget kapital eftersom varukostnaderna påverkas av US dollarns fluktuation då ca 75 procent (76) av inköpen sker i dollar.”

Annual report 2024A · The company itself

“Bolidenvägt index Metall priser / TC index Valutaindex Bolidenvägt index Källa: Bloomberg, CRU Index Valutautveckling USD stärktes betydligt under den senare delen av 2024 mot bakgrund av robusta ekonomiska utvecklingen i USA, förhöjda räntor och investerares förväntningar på den kommande administrationen. Federal Reserves försiktiga inställning till räntesänkningar stärkte ytterligare dollarn, som ligger på rekordhöga nivåer enligt enligt det nominella handelsviktade växelkursindexet som upprätthålls av Federal Reserve.”

Annual report 2024A · The company itself

“Prisvillkoren för produkter baseras huvudsakligen på metallbörser, och våra produkter prissätts till stor del i USD.”

Annual report 2024A · The company itself

“Macroeconomic uncertainties and geopolitical tensions have caused, and in the future may cause, significant volatility in foreign currency exchange rates, stock markets, and oil prices, which can impact consumer travel behavior.”

Annual report 2025A · The company itself

“We derive a substantial portion of our gross bookings from countries outside the United States. The growth rate of our operations outside the United States have generally declined over time as the absolute level of our gross bookings increased and online travel growth rates declined, and they may also be impacted by factors such as economic conditions, changes in foreign currency exchange rates, declines in ADRs, increases in cancellations, adverse changes in travel market conditions, and competition.”

Annual report 2025A · The company itself

“Significant fluctuations in foreign currency exchange rates can affect consumer travel behavior. Consumers traveling from a country whose currency has weakened against other currencies may book lower ADR accommodations, choose to shorten or cancel their international travel plans, or choose to travel domestically rather than internationally, any of which could adversely affect our gross bookings, revenues, and results of operations.”

Annual report 2025A · The company itself

“Financial risks Borregaard is financially exposed to currency risk for most of its sales, primarily in USD and EUR. A substantial part of this exposure, defined as estimated net cash flow in USD and EUR, is routinely hedged with a nine-month time horizon.”

Annual report 2024A · The company itself

“The weakening of the Norwegian currency has had a notable impact on Borregaard's financial results. While it has made our exports more competitive, it has also increased the cost of imported raw materials and other inputs.”

Annual report 2024A · The company itself

“As a result of our international operations, we are also exposed to currency exchange rate fluctuations. Changes in exchange rates between the U.S. dollar and other foreign currencies, particularly the Brazilian real, Canadian dollar, the euro, and Chinese yuan/renminbi affect our revenues and expenses that are denominated in local currencies, affect farm economics in those regions and may also have a negative impact on the value of our assets located outside of the United States.”

Annual report 2025A · The company itself

“Currency Risk Our global operations require active participation in foreign exchange markets. Our primary foreign currency exposures are the Brazilian real, Canadian dollar, the Euro, and the Chinese yuan/renminbi.”

Annual report 2025A · The company itself

“As a result, changes in local and regional economic conditions, including fluctuating exchange rates, may adversely affect demand for our products and the profits generated by our non-U.S. operations because a significant portion of our sales and expenses are denominated in currencies other than U.S. dollars.”

Annual report 2025A · The company itself

“We have operations throughout the world that manufacture and sell products in various international markets. As a result, we are exposed to exchange rate movements in relation to our reporting currency, the U.S. dollar.”

Annual report 2025A · The company itself

“Finansiella risker Som en global aktör påverkas CellaVision av valutakursförändringar, främst i USD och EUR. En starkare dollar eller euro gynnar omsättning och resultat, medan en försvagning har motsatt effekt.”

Annual report 2024A · The company itself

“Koncernen verkar internationellt och utsätts för valutarisker från olika valutaexponeringar, framförallt avseende dollar och euro. Koncernens inköp sker i huvudsak i svenska kronor och i euro. Försäljningen sker till övervägande del i dollar och euro.”

Annual report 2024A · The company itself

“Global competition for nitrogen products is also influenced by other factors, including currency exchange rates, including the relative value of the U.S. dollar and its impact on the cost of importing nitrogen products into the United States, foreign agricultural policies, the existence of, or changes in, import or foreign currency exchange barriers in certain foreign jurisdictions and the laws and policies of the regions in which we operate, including the imposition of new duties, tariffs or quotas, that affect foreign trade and investment. For example, the imposition of duties, tariffs or quotas in a region, such as the European Union’s imposition of additional and increasing tariffs on nitrogen fertilizers from Russia that began in July 2025, can directly impact product pricing in that region, which can lead to changes in global trade flows and impact the global supply and demand balance and pricing.”

Annual report 2025A · The company itself

“Med en stor del af omsætningen i USA er ChemoMetec særligt eksponeret imod USD”

Annual report 2025A · The company itself

“Med en stor del af omsætningen i USA er ChemoMetec særligt eksponeret imod USD samt ændringer i de amerikanske toldsatser.”

Annual report 2025A · The company itself

“Our business is exposed to domestic and foreign currency fluctuations. We are exposed to foreign currency exchange rate risk (both transaction and translation) with respect to our sales, profits, assets and liabilities denominated in currencies other than the U.S.”

Annual report 2025A · The company itself

“Cloettas redovisningsvaluta är svenska kronor, medan många dotterbolag har euro som funktionell valuta, varför omräkningsexponeringen är betydande.”

Annual report 2024A · The company itself

“Our business, operating results, financial condition and liquidity may be adversely affected by changes in global economic conditions, including global inflationary pressures, prevailing interest rates, credit market conditions, increased unemployment, levels of consumer and business confidence, bank failures, commodity (including energy) prices and supply, a recession or economic slowdown, trade policies, foreign currency exchange rates, changing policy positions or priorities, governmental rules and approaches to taxation, levels of government spending and deficits, and actual or anticipated default on sovereign debt.”

Annual report 2025A · The company itself

“Revenue is particularly exposed to developments in USD and GBP relative to DKK”

Annual report 2025A · The company itself

“Our financial guidance for the 2025/26 financial year has been prepared on the basis of the following assumptions for the company’s principal currencies: Overview of exchange rates for key currencies against DKK GBP USD HUF Average exchange rate 2023/24 872 688 1.92 Average exchange rate 2024/25 882 676 1.85 Change in average exchange rates for 2024/25 versus 2023/24 1 % -2 % -4 % Spot rate on 31 October 2025 849 646 1.92 Change in spot rates compared with average exchange rate 2024/25 -4 % -4 % 4 % Revenue is particularly exposed to developments in USD and GBP relative to DKK.”

Annual report 2025A · The company itself

“Effect over 12 months of a 10% initial drop in exchange rates for key currencies (DKK million) Revenue EBIT USD -740 -290 GBP -400 -240 HUF – 160 Management’s Report | Highlights | 2025/26 Outlook and financial guidance Impact4 Financial ambition 7-8 % organic growth (5-year CAGR) in line with or above revenue growth EBIT growth over the period In constant exchange rates, before special items more than 20 % Return on Invested Capital in 2029/30 After tax, before special items.”

Annual report 2025A · The company itself

“The EBIT margin also included a small negative impact from currencies, related to the depreciation of the USD and a basket of Emerging markets currencies against the DKK, offset by the depreciation of the HUF against the DKK.”

Annual report 2025A · The company itself

“Under 2024 utgjorde fakturering i EUR cirka 62 procent (61) av den totala faktureringen, fakturering i USD cirka 24 procent (26) och fakturering i JPY 13 procent (13).”

Annual report 2024A · The company itself

“Eftersom all försäljning faktureras i utländska valutor, medan merparten av kostnaderna är i SEK, är bolaget känsligt för valutakursförändringar.”

Annual report 2024A · The company itself

“We have significant exposure to foreign currency movements A large portion of our sales, costs, profit and cash flows are transacted in non-U.S. dollar currencies, primarily the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso, and euro.”

Annual report 2025A · The company itself

“We also offer hedging and risk management services to customers, which helps them manage foreign exchange rate exposures in the course of doing business internationally.”

Annual report 2025A · The company itself

“Cross-Border Payments – Our cross-border solution is used by our customers to pay international vendors, foreign office and personnel expenses and for profit repatriation and dividends via foreign current transactions structured with foreign currency spot trades, forward contracts and option contracts.”

Annual report 2025A · The company itself

“In addition, we earn revenue in our cross-border solution from exchanges of currency at spot rates, which enable customers to make cross-currency payments. The cross-border solution also writes foreign currency derivative contracts for our customers.”

Annual report 2025A · The company itself

“Additionally, nearly all of our sales contracts are currently denominated in U.S. dollars. However, a strengthening of the U.S. dollar could increase the cost of our solutions to our international customers, which could adversely affect our business and results of operations.”

Annual report 2026A · The company itself

“For example, the European Economic Area (EEA) and the United Kingdom have significantly restricted the transfer of personal data to the United States and other countries whose privacy laws it generally believes are inadequate. Although there are currently various mechanisms that may be used to transfer personal data from the EEA and United Kingdom to the United States in compliance with law, such as the EEA standard contractual clauses, the United Kingdom’s International Data Transfer Agreement/Addendum, and the EU-U.S.”

Annual report 2025A · The company itself

“In addition, an increasing amount of our operating expenses are incurred outside the United States. These operating expenses are denominated in foreign currencies and are subject to fluctuations due to changes in foreign currency exchange rates.”

Annual report 2025A · The company itself

“Foreign currency fluctuations, which can be exacerbated by volatility in global credit markets, may change the US dollar value of our purchases or sales and, when converted to US dollars, could materially affect our net sales, gross margin, and results of operations. When the US dollar strengthens relative to foreign currencies, our sales and profits Table of Contents 22 denominated in foreign currencies are reduced when converted into US dollars and our margins may be negatively affected.”

Annual report 2026A · The company itself

“Trends And Uncertainties Impacting Our Business And Industry Our business and industry are subject to several important trends and uncertainties, including the following: Macroeconomic and Geopolitical Factors •Macroeconomic factors, including inflationary pressures, increased tariffs, rising supply chain costs, high interest rates, foreign currency exchange rate volatility, escalating global conflicts, changes in discretionary spending, and recession risks, are creating a complex and challenging environment for our business and industry that may continue to pressure our results of operations, including our gross margin.”

Annual report 2026A · The company itself

“•On a constant currency basis, net sales increased by 9.0%, compared to the prior period. •Comparable DTC channel net sales for the 52 weeks ended March 29, 2026, increased by 4.6%, compared to the prior period. •We experienced an increase of 6.2% in the total volume of units sold to 78,700 from 74,100, compared to the prior period.”

Annual report 2026A · The company itself

“Although most of our sales and inventory purchases are denominated in US dollars, our global operations in the international markets where our products are sold and manufactured expose us to risk of foreign currency exchange rate fluctuations between the US dollar and primarily the currencies of Europe, Asia, Canada, and Latin America.”

Annual report 2026A · The company itself

“exchange rates impacted revenue by -2%, which includes the effect of exchange rate hedging”

Annual report 2025A · The company itself

“We conduct business through our subsidiaries in many different countries, and fluctuations in currency exchange rates could have a significant impact on our reported consolidated results of operations, financial condition and cash flows, which are presented in U.S. dollars. Cross-border transactions, both with external parties and intercompany relationships, result in increased exposure to foreign exchange effects.”

Annual report 2025A · The company itself

“Our sales are translated into U.S. dollars for reporting purposes. The strengthening of the U.S. dollar could result in unfavorable translation effects as the results of foreign locations are translated into U.S. dollars.”

Annual report 2025A · The company itself

“The Company’s international operations expose it to fluctuations in foreign currencies relative to the U.S. dollar, which could adversely affect the Company’s results of operations. As of the year ended December 31, 2025, the Company’s largest currency exposures are the European euro, Chinese renminbi, Japanese yen, Canadian dollar and Indian rupee.”

Annual report 2025A · The company itself

“The effect of foreign exchange rates decreased revenue by $105.5 million, or 2%, in 2024 compared to 2023.”

Annual report 2025A · The company itself

“Local currency fluctuations against the U.S. dollar negatively impacted revenue by $105.5 million, or 9%.”

Annual report 2025A · The company itself

“Local currency fluctuations against the U.S. dollar negatively impacted revenue by $107.1 million, or 37%, in 2024, primarily from Argentina.”

Annual report 2025A · The company itself

“Local currency revenue increased 5% in 2025 as compared to 2024, primarily driven by growth in the commercial, consumer credit reporting and identity and fraud businesses in Australia, partially offset by a decline in India. Local currency fluctuations against the U.S. dollar negatively impacted revenue by $8.4 million, or 3%.”

Annual report 2025A · The company itself

“Local currency fluctuations against the U.S. dollar negatively impacted revenue by $5.3 million, or 2%, in 2025.”

Annual report 2025A · The company itself

“Foreign Currency Exchange Rate Risk A substantial majority of our revenue, expense and capital expenditure activities are transacted in U.S. dollars. However, we do transact business in other currencies, primarily the Australian dollar, the Canadian dollar, the British pound, the Brazilian real, the Chilean peso, the Argentine peso and the Euro. For most of these foreign currencies, we are a net recipient, and, therefore, benefit from a weaker U.S. dollar and are adversely affected by a stronger U.S. dollar relative to the foreign currencies in which we transact significant amounts of business.”

Annual report 2025A · The company itself

“Svingninger i prisene på olje og naturgass, valutakurser og generelle makroøkonomiske forhold påvirker våre økonomiske resultater.”

Annual report 2024A · The company itself

“Svingninger i valutakurser, spesielt mellom dollar (USD), euro (EUR), britiske pund (GBP) og norske kroner (NOK), kan ha vesentlig innvirkning på Equinors driftsmessige og økonomiske resultater. En stor andel av Equinors inntekter og innbetalinger er i, eller drevet av USD, mens salg av gass og raffinerte produkter i hovedsak er i EUR og GBP, og en stor andel av driftskostnader, investeringer, kapitaldistribusjon og inntektsskatt påløper i NOK.”

Annual report 2024A · The company itself

“Majoriteten av Equinors langsiktige gjeld er eksponert mot USD.”

Annual report 2024A · The company itself

“Currency and Inflation Our worldwide operations require that we transact in a multitude of currencies other than the U.S. dollar. That exposes us to the inherent risks of volatile international currency markets and governmental interference.”

Annual report 2025A · The company itself

“For example, international trade is influenced by: • currency exchange rates and currency control regulations; • interest rate fluctuations; • changes and uncertainties in governmental policies and inter-governmental disputes, which could result in increased tariff rates, quota restrictions, trade barriers and other types of restrictions; • changes in and application of customs, trade and security regulations; • wars, strikes, civil unrest, acts of terrorism, and other conflicts; • changes in labor and other costs, including the impacts of inflation; • increased global concerns regarding working conditions and environmental sustainability; • changes in consumer attitudes regarding goods made in countries other than their own; • changes in availability of credit; and • changes in the price and readily available quantities of oil and other petroleum-related products.”

Annual report 2025A · The company itself

“The principal foreign exchange risks to which Expeditors is exposed include Chinese Yuan, Indian Rupee, Euro, Mexican Peso, Canadian Dollar, British Pound and Vietnamese Dong.”

Annual report 2025A · The company itself

“All other things being equal, an average 10% weakening of the U.S. dollar, throughout the year ended December 31, 2025, would have had the effect of raising operating income by approximately $60 million. An average 10% strengthening of the U.S. dollar, for the same period, would have the effect of reducing operating income by approximately $49 million.”

Annual report 2025A · The company itself

“Partner channel revenue in North America was weak due to US dollar fluctuations.”

Annual report 2025A · The company itself

“More than 10 percent weakening of the U.S. dollar during the first half of the year has a strong impact, resulting in a negative effect of more than EUR 3 million on full-year forecast compared to the level at the beginning of 2025.”

Annual report 2025A · The company itself

“Risks related to F-Secure´s financial position and financing The number of operations and locations outside the eurozone in different currencies exposes F-Secure to a risk related to currency fluctuations. Changes in the exchange rates between currencies could have an adverse effect on F-Secure’s revenue, results and financial position. F-Secure is exposed to transaction risks caused by purchasing and selling products and goods in currencies that are not F-Secure’s home currencies, in particular the US dollar.”

Annual report 2025A · The company itself

“The group’s net sales in dierent currencies are distributed as fol - lowing: SEK 12%, EUR 54% including DKK, USD 18% and other currencies 16%. A major portion of the Brand segment's purchases take place in USD, even though certain brands make a large share of purchases in EUR.”

Annual report 2024A · The company itself

“The group had out - standing currency forwards as per December 31, 2024, where 36 MUSD had been purchased against 33.4 MEUR. If no hedge made, a 5% change of the USD/EUR rate would result in an annual eect of MEUR 3.4.”

Annual report 2024A · The company itself

“Sales and purchases in currencies other than the U.S. dollar expose us to fluctuations in foreign currencies relative to the U.S. dollar and may adversely affect our financial results. Overall strengthening of the U.S. dollar during most of fiscal year 2025 has increased the effective price of our products sold in U.S. dollars into other countries, which may require us to lower our prices or adversely affect sales to the extent we do not increase local currency prices.”

Annual report 2025A · The company itself

“Decreased strength of the U.S. dollar could adversely affect the cost of materials, products and services we purchase overseas.”

Annual report 2025A · The company itself

“As a result, we are exposed to movements in the exchange rates of various currencies against the USD.”

Annual report 2025A · The company itself

“In general, strengthening of the USD against other major currencies negatively impacts our sales and results of operations, while weakening of the USD positively impacts our sales and results of operations.”

Annual report 2025A · The company itself

“The currencies that have historically created a majority of the Company’s exchange rate exposure include the Taiwan Dollar, Euro, and Polish Zloty. Garmin Corporation, headquartered in Xizhi, Taiwan, uses the local currency as the functional currency.”

Annual report 2025A · The company itself

“Non-U.S. transactions can involve increased risks arising from foreign exchange rate variability, which could, among other things, negatively impact sales and the translation of our international revenue from local currencies into U.S. dollars, and differing legal systems.”

Annual report 2025A · The company itself

“foreign exchange rate movements impacting Genmab’s USD denominated assets”

Annual report 2025A · The company itself

“the 2026 guidance assumes a USD/DKK exchange rate of 6.2”

Annual report 2025A · The company itself

“Genmab’s projected revenue for 2026 primarily consists of DARZALEX royalties of approximately $2.7 billion at the midpoint. Such royalties are based on estimated DARZALEX 2026 net sales of $15.6 - 16.4 billion compared to actual net sales in 2025 of $14.3 billion.”

Annual report 2025A · The company itself

“TEPEZZA, RYBREVANT, TECVAYLI, TALVEY and TEPKINLY net sales and royalties paid to Genmab; changing rates of inflation; and currency exchange rates (the 2026 guidance assumes a USD/DKK exchange rate of 6.2).”

Annual report 2025A · The company itself

“The change from 2024 to 2025 is primarily driven by a lower exchange rate impact due to the change in functional currency of Genmab A/S from DKK to USD on January 1, 2025.”

Annual report 2025A · The company itself

“The increase in gain, net of $147 million, or 865% from 2023 to 2024, was primarily driven by foreign exchange rate movements impacting Genmab’s USD denominated marketable securities. As the majority of Genmab’s investment portfolio is denominated in U.S. dollars, these securities benefited from the strengthening of the USD against the DKK in 2024, as compared the USD weakening against the DKK in 2023.”

Annual report 2025A · The company itself

“While the broader consequences are uncertain at this time, the continuation and/or escalation of these or other geopolitical conflicts creates a number of risks that could adversely impact our business, including: •persistent inflationary pressures and significant volatility in commodity prices; •disruptions to our global technology infrastructure, including through cyberattacks, ransom attacks or cyber-intrusion; •adverse changes in international trade policies and relations, including U.S. tariff policies; •our ability to maintain or increase our prices, including freight in response to increased fuel costs; 10 Table of Contents •disruptions in global supply chains; •increased exposure to foreign currency fluctuations; and •constraints, volatility or disruption in the credit and capital markets.”

Annual report 2025A · The company itself

“Fluctuations in foreign currency exchange rates have adversely affected and could continue to adversely affect our operating results. Because the functional currency of most of our foreign operations is the applicable local currency, but our financial reporting currency is the U.S. dollar, we are required to translate the assets, liabilities, expenses, and revenues of our foreign operations into U.S. dollars at the applicable exchange rate in preparing our Consolidated Financial Statements. Accordingly, we face foreign currency exchange rate risk arising from transactions in the normal course of business, such as sales and loans to wholly owned subsidiaries, sales to third-party customers, purchases from suppliers, and bank lines of credit with creditors denominated in foreign currencies.”

Annual report 2025A · The company itself

“Foreign currency exchange rates have affected our net sales, net earnings, and operating results and could continue to result in declines in our reported net sales and net earnings. Currency exchange rate fluctuations may also affect the comparative prices between products we sell and products our foreign competitors sell in the same market, which may decrease demand for our products.”

Annual report 2025A · The company itself

“Table of Contents Foreign Currency We incur translation gains or losses resulting from the translation of an operating unit’s foreign functional currency into U.S. dollars for consolidated financial statement purposes. For the periods presented, our principal foreign currency exchange exposures are the Euro, the primary functional currency of our European operations; the Canadian dollar, the functional currency of our Canadian operations; and the Australian dollar, the primary functional currency of our Australasian operations.”

Annual report 2025A · The company itself

“During 2025 and 2024, it was estimated that a 10% shift in exchange rates between those foreign functional currencies and the U.S. dollar would have impacted translated net sales by approximately $867 million and $829 million, respectively.”

Annual report 2025A · The company itself

“Foreign Currency Exchange Rate Risk We have operations in more than 35 countries worldwide. As such, certain of our monetary assets and liabilities and approximately 26% of our 2025 product sales are denominated in foreign currencies.”

Annual report 2025A · The company itself

“Overall, we are a net receiver of foreign currencies and, therefore, we benefit from a weaker U.S. dollar and are adversely affected by a stronger U.S. dollar.”

Annual report 2025A · The company itself

“De siste årene har samfunnet vært preget av historisk høy prisvekst, svak kronekurs og husholdninger som har blitt nødt til å strammere prioritere sine økonomiske midler.”

Annual report 2024A · The company itself

“primarily driven by the higher interest costs...as well as unfavorable foreign exchange effects of DKK 349 million mainly due to the USD depreciation”

Annual report 2025B · From the report

“Net profit and adjusted EPS Net financial (income)/expenses amounted to an expense of DKK 788 million in 2025, primarily driven by the higher interest costs of DKK 497 million due to new debt obtained in connection with the acquisition of Longboard as well as unfavorable foreign exchange effects of DKK 349 million mainly due to the USD depreciation.”

Annual report 2025A · The company itself

“Recessionary or inflationary conditions and depressed levels of consumer and commercial spending may also cause customers to reduce, modify, delay, or cancel plans to purchase our products and may cause suppliers to reduce their output or change their terms of sale. We have experienced inflationary pressures, including higher freight costs and interest expense, and pressures resulting from the strengthening of the dollar, which have and continue to impact our results of operations.”

Annual report 2025A · The company itself

“De valutor som har störst inverkan på Hexagons resultat och nettotillgångar är CHF, CNY och USD. Valutarisk är risken att fluktuationer i valutakurser har en ofördelaktig inverkan på resultaträkning, balansräkning och/eller kassaflöde. Försäljning samt inköp av varor och tjänster i andra valutor än dotterföretags funktionella valuta leder till transaktionsexponering.”

Annual report 2024A · The company itself

“Hofseth BioCare conducts transactions in multiple currencies, primarily US dollars and Euros. Exchange rate fluctuations inherently affect both the cost of raw materials and the pricing of products sold internationally.”

Annual report 2024A · The company itself

“Hoist Finance är exponerad mot valutakursrisk eftersom koncernen löpande köper kreditportföljer i bland annat EUR, PLN och GBP medan rapporteringsvalutan är SEK och en stor del av koncernens skulder är i SEK. Koncernen är också exponerad mot ränterisk då bolaget lånar in via kapitalmarknaderna där obligationsräntor emellanåt kan fluktuera stort.”

Annual report 2024A · The company itself

“We are also exposed to fluctuations in foreign currency exchange rates. We have a large global presence, with approximately 65% of our net revenue from outside the United States. As a result, our financial results can be, and particularly in recent periods have been, negatively impacted by fluctuations in foreign currency exchange rates.”

Annual report 2025A · The company itself

“In addition, there were significant negative currency movements, particularly as the US dollar weakened against the euro.”

Annual report 2025A · The company itself

“The segment’s adjusted EBIT decreased due to a weaker US dollar, unfavorable sales prices and mix and increased operational costs, partly related to the capacity expansion in Hammond, Indiana and Paris, Texas.”

Annual report 2025A · The company itself

“Nedan beskrivs de primära risker som bedöms vara relevanta för koncernen. a) Marknadsrisk Valutarisk Koncernen verkar internationellt och utsätts för valutarisker som uppstår från olika valutaexponeringar, framförallt avseende valutorna EUR, GBP och USD. Valutarisk uppstår framför allt från omräkning av utländska dotterbolags resultatoch balansräkning till koncernens rapportvaluta som är SEK (omräkningsexponering).”

Annual report 2024A · The company itself

“ÅRET I KORTHET 2024 • Nettoomsättningen minskade med 9% till 48 352 Mkr (53 261). Valutakursförändringar hade en neutral påverkan. • Planerad avveckling av bensindriven verksamhet med låg marginal påverkade med –2%. • Försäljningen minskade organiskt med 7%. • Rörelseresultatet var 2 597 Mkr (3 880) och rörelsemargina - len var 5,4% (7,3). • Exklusive jämförelsestörande poster uppgick rörelseresultatet till 3 195 Mkr (4 970) och rörelsemarginalen var 6,6% (9,3). • Resultat per aktie efter utspädning uppgick till 2,31 kr (3,81) och resultat per aktie exklusive jämförelsestörande poster och efter utspädning uppgick till 3,12 kr (5,28). • Kassaflöde från den löpande verksamheten och investerings - verksamheten var 4 372 Mkr (4 414).”

Annual report 2024A · The company itself

“Husqvarna Group säljer sina produkter i mer än 100 länder, har produktion i ett tiotal länder samt köper dessutom in råma - terial och komponenter från ett flertal länder över hela världen, och är därmed exponerad för valutakursförändringar.”

Annual report 2024A · The company itself

“The company’s results of operations also could be affected by economic and political changes in those countries and by macroeconomic changes, including recessions, inflation, currency fluctuations between the U.S. dollar and non-U.S. currencies, capital controls, and adverse changes in trade relationships amongst those countries.”

Annual report 2025A · The company itself

“The Company Is Exposed to Currency and Financing Risks That Could Impact Its Revenue and Business: The company derives a significant percentage of its revenues and costs from its affiliates operating in local currency environments, and those results are affected by changes in the relative values of non-U.S. currencies and the U.S. dollar, as well as sudden shifts in regional or global economic activity.”

Annual report 2025A · The company itself

“The Company is exposed to fluctuations in foreign currency exchange rates arising from its global business operations. Approximately 34% of net sales in 2025 were recorded by subsidiaries with functional currencies other than the U.S. Dollar.”

Annual report 2025A · The company itself

“Strengthening of the rate of exchange for the U.S. dollar has a negative effect on our business We are a global business, with 36% of our revenue during the year ended December 31, 2025, attributable to sales of products and services to customers outside of the U.S. Any strengthening of the rate of exchange for the U.S. dollar against foreign currencies, and in particular the euro, British pound, Canadian dollar, Chinese renminbi, Japanese yen, Australian dollar and Brazilian real, adversely affects our results, as it reduces the dollar value of sales and profits that are made in those currencies.”

Annual report 2025A · The company itself

“A significant fluctuation between the U.S. Dollar and other currencies could adversely impact the Company's operating income.”

Annual report 2025A · The company itself

“Changes in the euro–US dollar exchange rate had a negative impact on Incap’s business environment.”

Annual report 2025A · The company itself

“Nettoinvestering i utländska dotterbolag 2024 2023 Koncernen lokal lokal Nettoexponering i miljoner valuta SEK valuta SEK EUR 785 9 015 697 7 735 DKK 1 961 3 019 1 433 2 133 GBP 207 2 865 166 2 117 CHF 90 1 094 79 949 NOK 1 076 1 043 816 806 Summa 17 036 13 740 Indutrade uppskattar att bolagets omräkningsexponering medför att 1 procents förändring av värdet på den svenska kronan gentemot andra valutor resulterar i en årlig positiv/negativ effekt (vid försvagning/förstärkning av den svenska kronan) motsvarande cirka 248 (244) mkr på nettoomsättningen samt cirka 19 (20) mkr på resultatet efter skatt.”

Annual report 2024A · The company itself

“Valutarisker Valutarisk utgör risken för att valutakursförändringar negativt påverkar koncernens resultaträkning, balansräkning och/eller kassaflöden. De viktigaste valutorna för Intrumkoncernen, utöver svenska kronor (SEK), är euro (EUR), schweiziska francs (CHF), brittiska pund (GBP), ungerska forint (HUF), och norska kroner (NOK).”

Annual report 2024A · The company itself

“In addition, as a result of our global presence, a significant portion of our revenues and expenses is denominated in currencies other than the U.S. dollar. We are therefore subject to non-U.S. currency risks and non-U.S. exchange exposure.”

Annual report 2025A · The company itself

“Exchange rates can be volatile and a substantial weakening of foreign currencies against the U.S. dollar could reduce our profit margin in various locations outside of the U.S. and adversely impact the comparability of results from period to period.”

Annual report 2025A · The company itself

“We hold assets, incur liabilities, earn revenue, and pay expenses in a variety of currencies other than the U.S. dollar, primarily the Canadian dollar, euro, British pound sterling, Australian dollar, Brazilian real, Chinese renminbi, Russian ruble, Indonesian rupiah, and New Zealand dollar.”

Annual report 2025A · The company itself

“Segment Adjusted Operating Income decreased 14.1% to $4.4 billion in 2025 compared to $5.1 billion in 2024, primarily due to unfavorable volume/mix, inflationary pressures in commodity and manufacturing costs that outpaced our efficiency initiatives, increased advertising expenses, higher depreciation expense, increased research and development costs, and the unfavorable impact of foreign currency (0.1 pp).”

Annual report 2025A · The company itself

“Lamorin raportointivaluutta on euro, ja yhtiö altistuu valuuttakurssivaihteluista aiheutuvalle riskille aina, kun se maksaa tai vastaanottaa maksuja muussa valuutassa kuin eurossa. Lamorin kannalta merkittävin yksittäiseen valuuttaan liittyvä riski liittyy Yhdysvaltain dollarin ja siihen sidottujen valuuttojen kurssivaihteluihin.”

Annual report 2024A · The company itself

“During 2025, approximately 71% of our revenue was generated from activities outside the U.S., which could be transacted in a non-functional currency.”

Annual report 2025A · The company itself

“Years ended December 31, 2025 2024 Increase/(Decrease) Increase/(Decrease) 2025 2024 2023 As reported Currency-neutral As reported Currency-neutral ($ in millions) Domestic assessments $ 11,029 $ 10,245 $ 9,566 8% 8% 7% 9% Cross-border assessments 12,021 10,181 8,409 18% 17% 21% 22% Transaction processing assessments 15,930 13,602 12,067 17% 16% 13% 14% Other network assessments 1,018 936 963 9% 8% (3)% (3)% Foreign Currency Currency Impact Our primary functional currencies are the U.S. dollar, euro, British pound and the Brazilian real. Our overall operating results are impacted by currency translation, which represents the effect of translating operating results where the functional currency is different than our U.S. dollar reporting currency.”

Annual report 2025A · The company itself

“Foreign Currency Exchange Risk We have foreign currency risks related to our revenue and operating expenses denominated in currencies other than the U.S. dollar, the majority of which is in Euro. Accordingly, changes in exchange rates, and in particular a strengthening of the U.S. dollar, have in the past, and may in the future, negatively affect our revenue and other operating results as expressed in U.S. dollars.”

Annual report 2025A · The company itself

“Based on our analysis of the impact of a 100-basis point change (increase or decrease) in interest rates, as well as a 10% change (increase or decrease) in foreign currency exchange rates and equity market prices, we have determined that such a change could have a material adverse effect on the estimated fair value of certain assets and liabilities from interest rate, foreign currency exchange rate and equity market exposures.”

Annual report 2025A · The company itself

“Exchange rate risks Metsä Board sells its products in several countries and is therefore susceptible to fluctuations in exchange rates. Changes in exchange rates can have a significant impact on the company’s operating result. A 10% appreciation of the US dollar against the euro would increase annual operating profit by approximately EUR 50 million. A corresponding strengthening of the Swedish krona would weaken the result by approximately EUR 40 million, and a strengthening of the British pound would increase the result by approximately EUR 15 million.”

Annual report 2025A · The company itself

“In addition, the competitiveness of European pulp producers was weakened by the continued high pulpwood price and the depreciation of the US dollar against the euro.”

Annual report 2025A · The company itself

“Our earnings are affected by changing exchange rates. We are particularly sensitive to changes in the exchange rates between the Swiss franc, euro, Chinese renminbi, and U.S. dollar.”

Annual report 2025A · The company itself

“When the Swiss franc strengthens against our other trading currencies, particularly the U.S. dollar and euro, our earnings go down.”

Annual report 2025A · The company itself

“Volatiliteten i priser på råvaror, förpackningsmaterial, energi, gas och transporter samt viktiga valutors utveckling, som USD och EUR, påverkar koncernen.”

Annual report 2024A · The company itself

“Trenden har dock varit att inköpspriser på råvaror och andra insatsvaror passerat toppen, men fortsatt ligger på höga nivåer som en konsekvens av en tidvis ogynnsam valutautveckling för koncernen.”

Annual report 2024A · The company itself

“Koncernledningen har mandat att valutasäkra varuinköp i USD med valutaterminskontrakt till följd av den ökade valutaexponeringen i USD/DKK och USD/ EUR. Det gäller framför allt leverantörskontrakt med fördefinierade betalningsplaner.”

Annual report 2024A · The company itself

“Beroende av utveckling av utländsk valuta Fluktuationer i valuta påverkar Mips resultat då försäljning av bolagets produkter sker i utländsk valuta, främst USD och CNY (transaktionsexponering).”

Annual report 2024A · The company itself

“En 10 procent förändring av USD bedöms ha en påverkan på rörelseresultatet 2024 med cirka 31 MSEK (23).”

Annual report 2024A · The company itself

“Table of Contents Market Risk FX risk: Moody’s maintains a presence in more than 40 countries. In 2025, approximately 39% of the Company’s revenue and approximately 38% of the Company's expenses were denominated in functional currencies other than the U.S. dollar, principally in the British pound and the euro.”

Annual report 2025A · The company itself

“The international market for crop nutrients is influenced by such factors as the relative value of the U.S. dollar and its impact upon the cost of importing crop nutrients, foreign agricultural policies, including subsidy policies, the existence of, or changes in, import or foreign currency exchange barriers in certain foreign markets, changes in the hard currency demands of certain countries and other regulatory policies of foreign governments, as well as the laws and policies of the U.S. affecting foreign trade and investment, including use of tariffs.”

Annual report 2025A · The company itself

“As a result, we are subject to numerous risks and uncertainties relating to international sales and operations, including: •difficulties and costs associated with complying with a wide variety of complex laws, treaties and regulations; •unpredictable changes in regulatory environments; •increased government regulation of the economy in the countries we serve; •political and economic instability, inflation and adverse economic conditions resulting from governmental attempts to reduce inflation, such as imposition of higher interest rates and wage and price controls; •unpredictable tax audit practices of various governments; •nationalization of properties by foreign governments; 22 Table of Content •the imposition of tariffs, exchange controls, trade barriers or other restrictions, or government-imposed increases in the cost of resources and materials necessary for the conduct of our operations or the completion of strategic initiatives, including with respect to our joint ventures; and •currency exchange rate fluctuations between the U.S. dollar and foreign currencies, particularly the Brazilian real and the Canadian dollar.”

Annual report 2025A · The company itself

“Due to the global nature of our operations, we are exposed to currency exchange rate changes, which may cause fluctuations in earnings and cash flows. Our primary foreign currency exposures are the Canadian dollar and Brazilian real.”

Annual report 2025A · The company itself

“Financial Risks Our revenues, expenses, assets and liabilities are subject to foreign currency exchange rate fluctuation risk, which could have a material adverse effect on our business, financial condition or results of operations. We are subject to foreign currency exchange rate fluctuation risk. Exchange rate movements can impact the U.S. dollar reported value of our revenues, expenses, assets and liabilities denominated in non-U.S. dollar currencies or where the currency of such items is different than the functional currency of the entity where these items were recorded.”

Annual report 2025A · The company itself

“Political, economic or social events or developments in one or more of our non-U.S. locations or in the U.S. arising from such international developments, such as limitations imposed on securing new listings on our exchanges, constraints on data sharing with a U.S. based company, a reduced interest in providing operational support between certain regions and the U.S., or restrictions on entering into transactions with new or existing customers, could adversely affect our sales, operations and financial results.”

Annual report 2025A · The company itself

“Because we have operations in numerous countries, we are exposed to currency risk. We have operations in the U.S., the Nordic and Baltic countries, Canada, the United Kingdom, Australia and many other foreign countries. We therefore have significant exposure to exchange rate movements between the Euro, Swedish Krona, the Canadian dollar and other foreign currencies against the U.S. dollar.”

Annual report 2025A · The company itself

“Huvuddelen av våra inköp och försäljning sker i USD. Våra vinster och tillgångar påverkas följaktligen av fluktuationer i priset av USD i förhållande till SEK.”

Annual report 2024A · The company itself

“Significant devaluation of the Surinamese dollar against the U.S. dollar in recent years has resulted in an increase of the prices of certain goods and services within Suriname, including without limitation, the price of fuel, which had been subsidized by successive governments.”

Annual report 2025A · The company itself

“Additionally, there is a risk of increase in key commodity prices, more restrictive local banking requirements including requirements for repatriation of proceeds to banks domiciled in Ghana, limitations on capacity of banks to provide reclamation bonds, requests for further local employment requirements, requests for contract renegotiation and increases in contract rates and other costs.”

Annual report 2025A · The company itself

“Fluctuations in the local currency exchange rates in relation to the U.S. dollar can increase or decrease profit margins, cash flow and Costs applicable to sales to the extent costs are paid in local currency at foreign operations. We performed a sensitivity analysis to estimate the impact to Costs applicable to sales arising from a hypothetical 10% adverse movement to local currency exchange rates at December 31, 2025 in relation to the U.S. dollar at our foreign mining operations, with no mitigation assumed from our foreign currency cash flow hedges. The sensitivity analysis indicated that a hypothetical 10% adverse movement would result in an approximate increase of $498 to Costs applicable to sales at December 31, 2025.”

Annual report 2025A · The company itself

“These conditions, as well as changes in monetary policy, elevated interest rates, recessionary or stagflation concerns, labor market uncertainty, supply chain disruptions, increased energy and commodity costs and volatile foreign currency exchange rates, have affected, and may in the future adversely affect, the U.S. and global economies and markets and the Company’s business.”

Annual report 2026A · The company itself

“The Company is exposed to fluctuations in foreign currency exchange rates because it has significant operations in a number of foreign jurisdictions and certain of its operations are conducted in currencies other than the Company’s reporting currency, primarily the Australian dollar and the British pound sterling. Because the Company’s financial statements are denominated in U.S. dollars, changes in foreign currency exchange rates between the U.S. dollar and other currencies have had, and will continue to have, a currency translation impact on the Company’s earnings when the results of those operations that are reported in foreign currencies are translated into U.S. dollars for inclusion in the Company’s financial statements, which could, in turn, have an adverse effect on its reported results of operations in a given period or in specific markets.”

Annual report 2026A · The company itself

“The table below details the percentage of revenues and expenses by the three principal currencies for the fiscal years ended June 30, 2026 and 2025: U.S. Dollars Australian Dollars British Pound Sterling Fiscal year ended June 30, 2026 Revenues 50 % 28 % 17 % Operating and Selling, general and administrative expenses 52 % 23 % 18 % Fiscal year ended June 30, 2025 Revenues 50 % 27 % 17 % Operating and Selling, general and administrative expenses 52 % 23 % 18 % Based on the fiscal year ended June 30, 2026, a one cent change in each of the U.S. dollar/Australian dollar and the U.S. dollar/British pound sterling exchange rates would have impacted revenues by approximately $37 million and $11 million, respectively, for each currency on an annual basis, and would have impacted Total Segment EBITDA by approximately $12 million and $2 million, respectively, on an annual basis.”

Annual report 2026A · The company itself

“The impact of foreign currency fluctuations of the U.S. dollar against local currencies resulted in a revenue increase of $17 million, or 1%, for the fiscal year ended June 30, 2026 as compared to fiscal 2025.”

Annual report 2026A · The company itself

“The increase was due to higher Australian residential revenues driven by price increases and growth in add-on products, a $63 million, or 5%, positive impact from foreign currency fluctuations and higher financial services revenues from higher settlements, partially offset by lower revenues at REA India driven by recent divestitures and the discontinuation of certain businesses.”

Annual report 2026A · The company itself

“Circulation and subscription revenues increased $57 million, or 5%, as compared to fiscal 2025, primarily due to the $43 million, or 4%, positive impact of foreign currency fluctuations, price increases, higher content licensing revenues and digital subscriber growth in the U.K., partially offset by print volume declines. Advertising revenues decreased $16 million, or 2%, as compared to fiscal 2025, primarily due to lower print advertising revenues, partially offset by the $28 million, or 3%, positive impact of foreign currency fluctuations.”

Annual report 2026A · The company itself

“1www.iea.org/events/ 2www.iea.org/reports/ Takten i omställningen beror på ett  • Energiprisernas utveckling – framförallt utvecklingen avprisskillnadenmellanelektricitetochfossila bränslensomoljaochnaturgas. • Politiskastyrmedel–delsdirektaekonomiskastödoch subventionerföromställningochenergiskatter,dels indirektastödsompåverkarkostnadernaförny-eller ombyggnationer • Myndighetskravpåprodukter–blandannat Eco-designdirektivet,somangerminimikravpåenergiprestandahosprodukterpåEU-marknaden.Avsikten ärattförbättraprodukternasmiljöprestandaunder helaproduktenslivscykeln. • Begränsningavinstallationavgaspannorvidutbyte avvärmekällaochförbudmotgasanslutningvid nybyggnation. • Utbyggnadenavfossilfriinfrastrukturförklimatisering ochtappvarmvatten. • ”Smartbuildings”–medförökadefterfråganpåbättre energiprestandaochstyrningavbådeenfamiljsbostädersochkommersiellafastighetersklimatsystem. • Fastighets-ochbyggmarknadensutveckling,där nybyggnationochrenoveringoftainnebärinstallation avhållbaraenergilösningar. • Kostnadenförslutkonsumentenäravgörandeför investeringochdriftskostnad,beroendepåenergislag. • Rådandekonjunkturläge–vilkettillfälligtkanminska konsumentersköpkraftmenocksåmedföraen uppdämdefterfrågannärkonjunkturenvänder. · 34 · ÅRSREDOVISNING 2024 NIBE INDUSTRIER AB > NIBE CLIMATE SOLUTIONS 2024 202320222021 2020 -17 Måluppfyllelse 2024202320222021 2020 Måluppfyllelse 17,8 16,1 15,0 16,6 Måluppfyllelse Lorem ipsum 9,3* *Exkl Jämförelsestörande poster Tillväxtmål  Under2024varnedgångentotalt-17,0%(+20,3%)varav-21,2%(+14,4%)var organisk.Detinnebärattdenorganiskatillväxtenvar35,6procentenheter lägreän2023.Tillväxtenharigenomsnittvarit9,6%underdesenastefem åren.”

Annual report 2024A · The company itself

“•We transact in various currencies, which creates exposure to fluctuations in foreign currency exchange rates relative to the U.S. Dollar. Continued volatility in the markets and exchange rates for foreign currencies and contracts in foreign currencies has had and could continue to have a significant impact on our reported operating results and financial condition. •Continued volatility in the availability and prices for commodities and raw materials we use in our products and in our supply chain (such as cotton or petroleum derivatives) has had and could have a material adverse effect on our costs, gross margins and profitability.”

Annual report 2026A · The company itself

“Economic factors beyond our control, and changes in the global economic environment, including fluctuations in and uncertainty regarding inflation and currency exchange rates, could result in lower revenues, higher costs and decreased margins and earnings. A majority of our products are manufactured and sold outside of the United States, and we conduct purchase and sale transactions in various currencies, which creates exposure to the volatility of global economic conditions, including fluctuations in and uncertainty regarding inflation and foreign currency exchange rates.”

Annual report 2026A · The company itself

“Exchange rate and interest rate risk Nordic operates globally and is exposed to foreign currency risk, as its sales revenue and direct production costs are almost entirely denominated in USD, whereas approximately 40% and 20% of its operating expenses were denominated in NOK and EUR, respectively, in 2024. Fluctuations in the exchange rates between the USD, NOK or EUR currencies may have an adverse effect on the Group.”

Annual report 2024A · The company itself

“10% change in USD/NOK exchange rates impact around USD 0.8 million in monthly cost.”

Annual report 2024A · The company itself

“We are exposed to fluctuations in foreign currency exchange rates, particularly with respect to the euro, the yen, the pound sterling and the Chinese yuan. Any significant change in the value of the currencies of the countries in which we do business against the U.S. dollar could affect our ability to sell products competitively and control our cost structure, which could have a material adverse effect on our business, financial condition and results of operations.”

Annual report 2025A · The company itself

“As a general rule, a weakening of the U.S. dollar relative to foreign currencies has a favorable effect on sales and net income, while a strengthening of the dollar has a detrimental effect. In 2025, as compared with 2024, the U.S. dollar was slightly weaker against foreign currencies.”

Annual report 2025A · The company itself

“If 2024 exchange rates had been in effect during 2025, sales would have been approximately $7,359 lower and costs would have been approximately $6,305 lower.”

Annual report 2025A · The company itself

“Vedlegg Finansielle eksponeringer Hydros driftsresultat påvirkes hovedsakelig av prisutviklingen på våre viktigste produkter og råvarer, av marginutvikling og svingninger i selskapets viktigste valutaer som er amerikanske dollar, norske kroner, euro og brasilianske real.”

Annual report 2024A · The company itself

“Hydros nedstrømssegmenter har en tydeligere valutaprofil med en netto long-eksponering mot USD og EUR som gjenspeiler hovedvalutaene i markedene de opererer i.”

Annual report 2024A · The company itself

“We faced challenging weather, air traffic control congestions, inflationary pressure across cost items, a weakening local currency in especially the Norwegian and Swedish kroner, and other regulatory measures that put increased pressure on us and other European airlines.”

Annual report 2024A · The company itself

“The current macroeconomic environment is uncertain with volatile energy and fuel prices, inflationary pressure, fluctuations in foreign exchange rates with a weakening local Norwegian is subject to corporate governance reporting requirements according to the Norwegian Accounting Act, section 2-9, the Norwegian Code of Practice for Corporate Governance and the Continuing Obligations of Listed Companies as approved by the Oslo Stock Exchange Oslo Børs.”

Annual report 2024A · The company itself

“Mot bakgrund av att en hög andel av förädlingsvärdet genereras i utländska fabriker, att fakturering sker i såväl svenska kronor som i utländsk valuta (främst EUR/USD) och att inköp av elektronikkomponenter och övrigt produktionsmaterial väsentligen sker i utländska valutor (EUR/USD) har NOTE en relativt omfattande valutahantering. Nettoexponeringen i utländska valutor säkras väsentligen dels genom bindande avtal där kunden står valutarisken, dels genom kassaflödessäkringar.”

Annual report 2024A · The company itself

“adjusted sales growth reported in Danish kroner is expected to be 3 percentage points lower than at CER, primarily due to depreciation of the USD/DKK exchange rate”

Annual report 2025A · The company itself

“This is driven by gains on hedged currencies, mainly the US dollar, partially countered by increased interest expenses related to net debt.”

Annual report 2025A · The company itself

“Adjusted sales growth is expected to be -5% to -13% at CER, with fluctuations in growth rates expected across quarters. Given the current exchange rates versus the Danish krone, adjusted sales growth reported in Danish kroner is expected to be 3 percentage points lower than at CER, primarily due to depreciation of the USD/DKK exchange rate.”

Annual report 2025A · The company itself

“• Could lead to tax adjustments, fines and higher-than-expected tax level. • Could adversely impact sales and profits. • Geopolitical developments could lead to an increase in corporate taxes and duties. • Hedging for selected currencies. • Integrated treasury management. • Applicable taxes paid in jurisdictions where business activity generates profits and multi-year Advance Pricing Agreements with tax authorities.”

Annual report 2025A · The company itself

“a 5% move in USD to the EUR impacts adjusted EBITDA around EUR 40-45 million on a fullyear basis”

Annual report 2025A · The company itself

“Sales amounted to EUR 996.6 million, equivalent to an increase of 2%, including negative currency impact of 4% and positive M&A impact of 2% relating to the Feed Enzyme Alliance acquisition.”

Annual report 2025A · The company itself

“These positive factors were partly offset by currency headwinds, mainly the USD.”

Annual report 2025A · The company itself

“Adjusted EBITDA margin The outlook for the adjusted EBITDA margin is between 37-38% with an expected margin expansion, including currency headwinds of around half a percentage point, particularly relating to the USD.”

Annual report 2025A · The company itself

“En betydande del av Orexos valutaexponering är hänförlig till transaktioner i utländsk valuta, huvudsakligen USD.”

Annual report 2024A · The company itself

“Räkenskapsåret 2024 utgjorde försäljning i USD 96 (95) procent av nettoomsättningen. Totala rörelsekostnader under 2024 uppgick till 57 (64) procent i USD.”

Annual report 2024A · The company itself

“Key currencies that carry an exchange rate risk for Orion are the US dollar, the Swedish krona and the Polish zloty.”

Annual report 2025A · The company itself

“The outlook assumes that the Nubeqa® royalties and product sales booked by Orion will increase clearly in 2026. Orion’s assumption is based on forecasts received from its partner Bayer.”

Annual report 2025A · The company itself

“Average selling prices for stainless steel in USD decreased both in the U.S. and Mexico, though this was offset by an improved product mix.”

Annual report 2025A · The company itself

“Ferrochrome sales price was lower, mainly driven by unfavorable EUR/USD foreign exchange rate.”

Annual report 2025A · The company itself

“The Treasury function (“Treasury”) is responsible for managing foreign exchange, metal, interest rate, liquidity and refinancing as well as emission allowance price risk.”

Annual report 2025A · The company itself

“Among the economic factors which may have such an effect are manufacturing and other end-market activity, currency exchange rates, air travel trends, difficulties entering new markets, tariffs and governmental trade and monetary policies, changes in government spending priorities (including defense and infrastructure spending), global pandemics, and general economic conditions such as inflation, deflation, interest rates and credit availability.”

Annual report 2026A · The company itself

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

Annual report 2026A · The company itself

“We generate revenue from consumers from: foreign currency conversions, instant transfers from their PayPal or Venmo account to their bank account or debit card, and facilitating the purchase and sale of cryptocurrencies; interest, fees, or other revenue from our credit products; and other miscellaneous fees.”

Annual report 2025A · The company itself

“Cross-border trade has been and may be negatively impacted by various factors including foreign exchange rate fluctuations; changes in or new tariffs, trade disputes, barriers or restrictions threats of such actions, and the related uncertainty thereof; sanctions; import or export controls; and the interpretation and application of laws of multiple jurisdictions in the context of cross-border trade and foreign exchange.”

Annual report 2025A · The company itself

“Additionally, any inability to access the capital markets when needed due to volatility or illiquidity in the markets, liquidity needs due to unanticipated reductions in customer balances, or increased regulatory liquidity and capital requirements may strain our liquidity position. Such conditions may also expose us to fluctuations in foreign exchange rates or interest rates that could materially and adversely affect our financial results.”

Annual report 2025A · The company itself

“FOREIGN EXCHANGE RISK We have significant operations internationally that are denominated in foreign currencies, primarily the British pound, Euro, Australian dollar, Canadian dollar, and Indian rupee, which subject us to foreign exchange risk and may adversely impact our financial results. We transact in various foreign currencies and have significant international revenues and expenses.”

Annual report 2025A · The company itself

“We are generally a net receiver of foreign currencies and therefore benefit from a weakening of the United States (“U.S.”) dollar, and are adversely affected by a strengthening of the U.S. dollar, relative to foreign currencies.”

Annual report 2025A · The company itself

“GLOBAL OPERATIONS We operate on a global scale and could be affected by currency and interest rate fluctuations; global trade tensions; capital and exchange controls; local and global economic conditions including inflation, recession, volatility and/or lack of liquidity in capital markets; expropriation and other restrictive government actions; changes in intellectual property; legal protections and remedies; trade regulations; tariffs; tax laws and regulations; and procedures and actions affecting approval, production, pricing, and marketing of, reimbursement for and access to our products, as well as impacts of political or civil unrest or military action, including, without limitation, the conflicts between Russia and Ukraine and in the Middle East and their economic consequences, geopolitical instability, terrorist activity, unstable governments and legal systems, inter-governmental disputes, public health outbreaks, epidemics, pandemics, natural disasters or disruptions related to climate change.”

Annual report 2025A · The company itself

“We operate in many countries and transact in many different currencies. Changes in the value of those currencies relative to the U.S. dollar, or high inflation or deflation in those countries, can impact our revenues, costs and expenses and our financial guidance.”

Annual report 2025A · The company itself

“Our reported results could be adversely affected by unfavorable currency exchange rates and currency fluctuations could impair our competitiveness.”

Annual report 2025A · The company itself

“Foreign currencies may fluctuate significantly against the U.S. dollar, reducing our net revenues, operating income and EPS.”

Annual report 2025A · The company itself

“Our primary local currency cost bases may be different from our primary currency revenue markets, and U.S. dollar fluctuations against various currencies may have disproportionate negative impact on cash flows and on net revenues as compared to our gross profit and operating income margins.”

Annual report 2025A · The company itself

“Den valutariskbolaget är exponerad för uppkommer främst genom att bolagets omkostnader i huvudsak främst är i svenska kronor medan en väsentlig del av intäkterna genereras i utländsk valuta, huvudsakligen USD. Bolaget arbetar utifrån en policy i syfte att minimera valutariskexponering i verksamheten med möjlighet att terminssäkra USD.”

Annual report 2024A · The company itself

“Försäljning och kostnader i procent uppdelad per valuta SEK och EUR USD övriga valutor Försäljning 1 352,5 1 126,1 79,4 Kostnader 183,1 2 033,4 150,0 Pricers omsättning fördelades med 53 (53) procent i EUR, 44 (45) procent i USD och övriga valutor 3 (2) procent under 2024.”

Annual report 2024A · The company itself

“Finansiella risker Risk Beskrivning Hantering Valutor Förändringar i valutakurserna kan påverka resultatet, balansräkningen och kassaflödet negativt. Pricer har en valutarisk framförallt genom försäljning i EUR och USD samt inköp USD.”

Annual report 2024A · The company itself

“Fluctuations in exchange rates for foreign currencies have and could reduce the U.S. dollar value of sales, earnings and cash flows we receive from non-U.S. markets, increase our supply costs (as measured in U.S. dollars) in those markets, negatively impact our competitiveness in those markets or otherwise adversely impact our business results or financial condition.”

Annual report 2026A · The company itself

“Therefore, if the U.S. dollar strengthens against other currencies such as the Japanese yen, our revenues reported in U.S. dollars would decline, even if there was no corresponding reduction in the health of our business.”

Annual report 2025A · The company itself

“In the short-term, solvency margins in our Japan businesses can also be impacted by fluctuations in exchange rates.”

Annual report 2025A · The company itself

“The amounts shown in the table above primarily reflect the impact of an intercompany arrangement between Corporate and Other operations and the International Businesses segment, pursuant to which the non-U.S. dollar-denominated earnings in all countries for a particular year, including its interim reporting periods, are translated at fixed currency exchange rates. The fixed rates are determined in connection with a currency hedging program designed to mitigate the risk that unfavorable rate changes will reduce the segment’s U.S. dollar-equivalent earnings. Pursuant to this program, the Company’s Corporate and Other operations may execute forward currency contracts with third parties to sell the net exposure of projected earnings from the hedged currency in exchange for U.S. dollars at a specified exchange rate.”

Annual report 2025A · The company itself

“Our business is exposed to domestic and foreign currency fluctuations. Changes in exchange rates between the U.S. Dollar and other currencies impact our financial results from a transactional perspective, as our foreign operations generally purchase inventory in U.S.”

Annual report 2026A · The company itself

“Given that we source the vast majority of our products overseas, the cost of these products to our foreign operations may be affected by changes in the value of their respective local currencies. In addition, changes in exchange rates of non-U.S. Dollar currencies impact our financial results, as our operations incur certain other costs that are denominated in various other foreign currencies.”

Annual report 2026A · The company itself

“Changes in currency exchange rates may also impact consumers' willingness or ability to travel abroad and/or purchase our products while traveling.”

Annual report 2026A · The company itself

“Bribery Act (discussed in greater detail above under "Risks from the improper conduct of employees, agents, contractors, or collaborators could adversely affect our reputation and our business, prospects, operating results, and financial condition"), as well as labor and employment laws and regulations; •changes in the political or economic condition of a specific country or region, including as a result of the Russia-Ukraine or Hamas-Israel armed conflict; •fluctuations in the value of foreign currency versus the U.S. dollar; •tariffs, trade protection measures, import or export licensing requirements, trade embargoes, sanctions (including those administered by the Office of Foreign Assets Control of the U.S.”

Annual report 2025A · The company itself

“Our primary foreign currency exposure relates to movements in the Japanese yen, euro, British pound sterling, Canadian dollar, Chinese yuan, and Australian dollar. If the U.S. dollar weakens against a specific foreign currency, assuming all other variables remained constant, our revenues will increase, having a positive impact on net income, but our overall expenses will increase, having a negative impact. Conversely, if the U.S. dollar strengthens against a specific foreign currency, assuming all other variables remained constant, our revenues will decrease, having a negative impact on net income, but our overall expenses will decrease, having a positive impact.”

Annual report 2025A · The company itself

“Although the majority of our net sales and cash generation have been made in the U.S., as our business in countries outside of the U.S. continues to increase, our exposure to foreign currency exchange risk related to our foreign sales and operations will increase. Fluctuations in the rate of exchange between the U.S. dollar and foreign currencies, primarily the Australian Dollar, Singapore Dollar, Euro, Chinese Yuan, and Canadian Dollar, have had and could in the future have an adverse effect on our financial results, including our net sales, margins, gains and losses, as well as on the values of our assets and liabilities.”

Annual report 2026A · The company itself

“The strengthening of the U.S. dollar against foreign currencies has an unfavorable impact on our sales and results of operations. While future changes in foreign currency exchange rates are difficult to predict, our sales and profitability may be adversely affected if the U.S. dollar strengthens relative to current levels.”

Annual report 2025A · The company itself

“Although our foreign purchases of merchandise are negotiated and paid for in U.S. dollars, increased tariffs or other import duties on goods imported into the United States, or decreases in the value of the U.S. dollar relative to foreign currencies, could increase the cost of products we purchase from overseas vendors and from domestic vendors who are reselling foreign-produced goods.”

Annual report 2026A · The company itself

“We are exposed to market risk attributable to changes in foreign currency exchange rates, fuel prices and interest rates. Significant changes in any of the foregoing could have a material impact on our financial results, net of the impact of our hedging activities and natural offsets. Additionally, the value of our earnings in foreign currencies is adversely impacted by a strong U.S. dollar.”

Annual report 2025A · The company itself

“the assumed weaker USD is expected to negatively impact reported revenue by approximately 7%”

Annual report 2025A · The company itself

“As RTX’s revenue is primarily denominated in USD, the assumed weaker USD is expected to negatively impact reported revenue”

Annual report 2025A · The company itself

“As RTX’s revenue is primarily denominated in USD, the assumed weaker USD is expected to negatively impact reported revenue by approximately 7%, compared to 2024/25.”

Annual report 2025A · The company itself

“A lower exchange rate on the USD, impacted revenue for Q4 negatively by DKK 7.5 million, compared to last years exchange rate.”

Annual report 2025A · The company itself

“Fluctuations in currency exchange rates – especially USD/DKK exchange rate – impact RTX revenue and operating profits measured in DKK.”

Annual report 2025A · The company itself

“•Significant fluctuations in our rate of anticipated growth and any failure to balance our expenses with our revenue forecasts. •Unanticipated changes in our effective tax rate and additional tax liabilities and global tax developments. •Fluctuations in currency exchange rates, particularly the U.S. Dollar versus local currencies. •Our debt service obligations, lease commitments and other contractual obligations.”

Annual report 2026A · The company itself

“Some risks such as interest rate, currency, and liquidity risks are by their nature simultaneously linked to various activities. To manage these risks efficiently, Sampo Group must have a detailed understanding of expected cash flows and their variance within its business operations. In addition, a thorough understanding of how the market values of assets and liabilities may fluctuate at the total balance sheet level under different scenarios is needed.”

Annual report 2025A · The company itself

“At the Group level, the capital requirement and own funds are both exposed to foreign currency translation risk. The actual capital and the capital needs of Group companies are converted from their reporting currencies to the euro.”

Annual report 2025A · The company itself

“Because we manufacture our products overseas and sell a large portion of our products abroad, fluctuations in foreign currency exchange rates affect our revenue, cost of revenue, margins, operating costs and cash flows. If the U.S. dollar experiences sustained weakness against certain foreign currencies, the U.S. dollar equivalents of unhedged manufacturing costs could increase because a significant portion of our production costs are foreign-currency denominated. Conversely, there would not be an offsetting impact to revenues since revenues are substantially U.S. dollar denominated.”

Annual report 2026A · The company itself

“Prices for our products are substantially U.S. dollar denominated, even when sold to customers that are located outside the U.S. Therefore, as a substantial portion of our sales are from countries outside the U.S., fluctuations in currency exchanges rates, most notably the strengthening of the U.S. dollar against other foreign currencies, contribute to variations in sales of products in impacted jurisdictions and could negatively impact demand and revenue growth.”

Annual report 2026A · The company itself

“In addition, currency variations may adversely affect margins on sales of our products in countries outside the U.S.”

Annual report 2026A · The company itself

“a weaker USD (half of our Group net sales stems from the U.S.), we had to revise our full year expectations”

Annual report 2025A · The company itself

“Our other tobacco categories were also impacted, though at a lesser extent, and combined with a weaker USD (half of our Group net sales stems from the U.S.), we had to revise our full year expectations in May.”

Annual report 2025A · The company itself

“Däremot utgörs stor del av bolagets rörelsekostnader samt nästan alla intäkter av euro, och i framtiden väntas bolagets rörelseintäkter och kostnader även utgöras av andra valutor, främst dollar.”

Annual report 2024A · The company itself

“Senzime verkar internationellt och en stor del av försäljningen sker i andra valutor än svenska kronor, framför allt i EUR och USD. Om en kund inte betalar eller valutakurserna utvecklas negativt för Senzimes del kan detta påverka den finansiella ställningen och resultatet negativt.”

Annual report 2024A · The company itself

“Koncernen är exponerad för valutakursrisker främst kopplat till USD, GBP och EUR, då en stor del av försäljning sker i USD medan inköp främst sker i GBP, EUR och SEK. Då koncernen har ett dotterbolag, Sivers Photonics Ltd, baserat i Storbritannien och ett dotterbolag, Sivers Semiconductors Inc, baserat i USA är koncernen även utsatt för omräkningsexponering från GBP till SEK och USD till SEK.”

Annual report 2024A · The company itself

“Finansiella risker och marknadsrisker Valutakurs- och metallprisrisker Prissättningsvillkoren för produkterna baseras främst på metallbörser och våra prissätts i USD. Av denna anledning uppstår transaktionsexponering när valutakurserna fluktuerar mellan det ögonblick då transaktionen avtalas och det ögonblick då den verkställs.”

Annual report 2024A · The company itself

“Ændrede valutakurser (fald i RMB og i USD) har reduceret omsætningen med ca. DKK 25 mio.”

Annual report 2025A · The company itself

“SP Group har væsentlige aktiviteter uden for Danmark og er særligt eksponeret mod PLN og USD.”

Annual report 2025A · The company itself

“SSH Communications Security laskuttaa asiakkaitaan valtaosin Yhdysvaltain dollareissa.”

Annual report 2025A · The company itself

“Tilikauden aikana euron keskimääräinen kurssi suhteessa dollariin vahvistui 4,4 prosenttia verrattuna vuoteen 2024, kun taas vuonna 2024 kurssi pysyi suhteellisen tasaisena. Vertailukelpoisin valuutoin tilikauden 2025 liikevaihdon lasku olisi ollut 0,8 prosenttia verrattuna vastaavaan ajanjaksoon 2024.”

Annual report 2025A · The company itself

“Suurimmat riskit: • Kyberturvallisuusuhat, sisältäen esim. kiristysohjelmat • Viiveet tuotekehityksessä ja uusmyynnissä sekä uusien kauppojen toteutuksessa • Strategian toteuttamisen ongelmat • Avainhenkilöiden säilyminen ja uusien palkkaaminen • Innovaatio- ja kehityskyvyn ylläpitäminen ja toteuttaminen, sisältäen IP-oikeudet • IPR-oikeudenkäynnit ja patenttiportfolion hyödyntäminen • Merkittävä osa yhtiön liikevaihdosta laskutetaan Yhdysvaltain dollareina ja näin ollen dollarin valuuttakurssin mahdollisilla voimakkailla vaihteluilla vuoden aikana voi olla vaikutuksia kannattavuuteen.”

Annual report 2025A · The company itself

“The Company’s predominant currency exposures are related to the Euro, Canadian Dollar, British Pound, Australian Dollar, Brazilian Real, Chinese Renminbi (“RMB”) and the Taiwan Dollar.”

Annual report 2026A · The company itself

“dollar strengthens relative to local currencies, the Company’s earnings could be negatively impacted.”

Annual report 2026A · The company itself

“As a result of having operations outside of the U.S., we are also exposed to market risk from fluctuations in foreign currency exchange rates. Substantial changes in foreign currency exchange rates could cause our sales and profitability to be negatively impacted.”

Annual report 2026A · The company itself

“Therefore, when the U.S. dollar strengthens in relation to the currencies of the countries where we sell our products, such as the euro or Asian currencies, our U.S. dollar reported revenue and income will decrease. Although the value of the U.S. dollar fluctuated in fiscal 2025, in recent years, the strength of the U.S. dollar has generally increased as compared to other currencies, which has had, and may continue to have, an adverse effect on our operating results as reported in U.S. dollars.”

Annual report unknown yearA · The company itself

“Merkittävä osa yhtiön liikevaihdosta on Yhdysvaltain dollareissa.”

Annual report 2025A · The company itself

“Currency exchange rate fluctuations may increase the cost of our products to international customers and therefore reduce our competitive position. In addition to making our products manufactured in the United States more expensive, a stronger dollar impacts the value of our foreign profits when translated back into dollars.”

Annual report 2025A · The company itself

“Konsernille merkittävimmät ulkomaan valuutat ovat Yhdysvaltain dollari (USD) ja Ruotsin kruunu (SEK). Yhdysvaltain dollari on Tokmanni -konsernin merkittävin eieuromääräinen hankintavaluutta. Ruotsin kruunujen merkitys johtuu hankitun tytäryhtiön kotivaluutassa tapahtuvasta liiketoiminnasta.”

Annual report 2025A · The company itself

“Transaktioriskit Valuuttakurssien epäsuotuisat muutokset voivat nostaa muissa valuutoissa kuin euroissa ostettujen tuotteiden hankintakustannuksia. Tokmanni -konsernin suojausperiaatteiden mukaan keskimäärin noin puolet USD-määräisistä ostoista suojataan keskimäärin kuuden kuukauden päähän. Valuuttasuojauksissa käytetään valuuttatermiinejä ja -optioita.”

Annual report 2025A · The company itself

“We monitor and manage foreign currency exchange rate and interest rate exposures, and use derivative instruments to mitigate the impact of changes in these rates on our financial condition and results of operations; however, changes in foreign 13 currency exchange rates and interest rates cannot always be predicted or effectively hedged, and may have a material adverse effect on us.”

Annual report 2025A · The company itself

“The depreciation of the US dollar and Chinese yuan negatively affected reported figures, particularly in the Industrial Measurements and subscription sales.”

Annual report 2025A · The company itself

“Depreciation of the US dollar and Chinese yuan against the euro had a negative impact on reported net sales in the Americas and APAC regions.”

Annual report 2025A · The company itself

“En kursförändring med 10 procent mellan EUR och SEK påverkar koncernens rörelseresultat EBIT med cirka 1 MSEK (1) och motsvarande kursförändring mellan USD och SEK med cirka 19 MSEK (33) samt en kursförändring mellan CAD och SEK ger resultatpåverkan på rörelseresultatet EBIT med 97 MSEK (99).”

Annual report 2024A · The company itself

“As a result of our global operations, our business, results of operations and financial condition may be adversely affected by fluctuations in currency exchange rates, most notably if the U.S. dollar strengthens against the primary foreign currencies, which could adversely impact our revenue growth in future periods. For example, if the U.S. dollar strengthens against other currencies such as the euro, our revenues reported in U.S. dollars would decline.”

Annual report 2025A · The company itself

“These macroeconomic pressures combined with the volatility in foreign exchange rates, including the strengthening of the U.S.”

Annual report 2025A · The company itself

“Although we report our financial results in U.S. Dollars, a significant portion of our revenues, indebtedness and other liabilities and our costs are denominated in non-U.S. currencies, including among others the Chinese Renminbi, Euro, Swedish Krona, Indian Rupee, Korean Won, Japanese Yen, Australian Dollar, Canadian Dollar, and British Pound Sterling.”

Annual report 2025A · The company itself

“Vitec har valutaexponering i norska kronor, danska kronor och mot euro. En förändring av kursen för dessa valutor med 5 % skulle i år ha påverkat koncernens resultat efter skatt med cirka 24,7 Mkr.”

Annual report 2024A · The company itself

“Changes in the value of the U.S. dollar relative to other currencies have had and could in the future have an adverse effect on our results of operations and financial condition.”

Annual report 2025A · The company itself

“Net foreign currency losses (gains) result from transactions denominated in a currency other than a businesses’ functional currency. Net foreign currency losses were $68 million in 2025 compared to gains of $52 million in 2024, primarily due to the U.S. dollar weakening against other major currencies in 2025.”

Annual report 2025A · The company itself

“Many of these customers operate in markets that are subject to fluctuations resulting from market uncertainty, trade and tariff policies, costs of goods 12 sold, currency exchange rates, interest rate fluctuations, government spending and government shutdowns, economic downturns, recessions, foreign competition, offshoring of production, oil and natural gas prices, geopolitical developments, labor shortages, work stoppages, natural or human induced disasters, extreme weather, outbreaks of pandemic disease, inflation, deflation, and a variety of other factors beyond Grainger’s control.”

Annual report 2025A · The company itself

“For the fiscal year ended December 31, 2025, approximately 19% of the Company's net sales were denominated in a currency other than the Company's functional U.S. dollar currency. Consequently, the Company is exposed to the impact of exchange rate volatility primarily between the U.S. dollar and the Japanese yen, Mexican peso, Canadian dollar and the British pound sterling.”

Annual report 2025A · The company itself

“Fluctuations in foreign currency exchange rates impact our results of operations, including our revenues and costs. Fluctuations in foreign currency exchange rates against the U.S. dollar impact our results of operations, including by impacting the cost in U.S. dollars of providing our goods and services, our revenues in U.S. dollars generated by our international businesses and the international demand for our domestic products and services.”

Annual report 2025A · The company itself

“An increase or sustained strength in the value of the U.S. dollar adversely impacts the U.S. dollar value of revenue we receive and expect to receive from other markets and contributes to reduced international demand for our domestic products and services, including international travel to our domestic parks and resorts.”

Annual report 2025A · The company itself

“A decrease or sustained weakness in the value of the U.S. dollar often increases the cost of labor, goods and services in, or originating from, as applicable, non-U.S. markets.”

Annual report 2025A · The company itself

“Although we hedge exposure to fluctuations in certain foreign currencies, any such hedging activity may not substantially offset the negative financial impact of exchange rate fluctuations and is not expected to offset all such negative financial impact, particularly in periods of sustained U.S. dollar strength or weakness relative to multiple foreign currencies.”

Annual report 2025A · The company itself

“For example, our international revenues are favorably impacted as the U.S. dollar weakens relative to other foreign currencies, and unfavorably impacted as the U.S. dollar strengthens relative to other foreign currencies.”

Annual report 2025A · The company itself

“RESULTS OF OPERATIONS Foreign Exchange Impacting Comparability The impact of exchange rates on our business is an important factor in understanding period-to-period comparisons of our results. For example, our international revenues are favorably impacted as the U.S. dollar weakens relative to other foreign currencies, and unfavorably impacted as the U.S. dollar strengthens relative to other foreign currencies.”

Annual report 2025A · The company itself

“Additionally, the U.S. dollar value of the Company’s net sales, cost of sales, operating expenses, interest, taxes and net income varies with foreign currency exchange rate fluctuations. Significant increases or decreases in the value of the U.S. dollar relative to certain foreign currencies, particularly the Canadian Dollar, Euro, Japanese yen, British pound and Chinese renminbi, could have a material adverse effect or benefit on the Company’s results of operations or financial condition.”

Annual report 2025A · The company itself

“Item 7A: Quantitative and Qualitative Disclosures About Market Risk Derivative Transactions The Company is a global company that operates in over 35 countries and, as a result, the Company’s net sales, cost of sales, operating expenses and balance sheet amounts are significantly impacted by fluctuations in foreign currency exchange rates. The Company is exposed to currency price risk on foreign currency exchange rate fluctuations when it translates its non-U.S. dollar foreign subsidiaries’ financial statements into U.S. dollars, and when any of the Company’s subsidiaries purchase or sell products or services in a currency other than its own currency.”

Annual report 2025A · The company itself

“Gains and losses from foreign currency transactions are included primarily in cost of sales in the consolidated statements of operations. In 2025, 2024 and 2023, foreign currency transactions resulted in net losses of $28 million, $36 million and $16 million, respectively.”

Annual report 2025A · The company itself

“These risks include currency fluctuations relative to the U.S. Dollar (“USD”) and multiple tax jurisdictions.”

Annual report 2025A · The company itself

“A significant portion of our net sales and earnings are generated internationally. Sales outside of the U.S. accounted for 56.7% of our consolidated net sales in 2025 and we anticipate that sales from international operations will continue to represent a significant portion of our net sales in the future.”

Annual report 2025A · The company itself

“As a result, our results of operations and financial position are exposed to changing currency exchange rates.”

Annual report 2025A · The company itself

“As a result, we are subject to foreign exchange risk with respect to the exchange rate between Macau patacas and Hong Kong dollars and the Hong Kong dollar and the U.S. dollar. Because certain debt obligations of our Macau-related entities have incurred U.S. dollar-denominated debt, fluctuations in the exchange rates of the Macau pataca or the Hong Kong dollar, in relation to the U.S. dollar, could have adverse effects on our results of operations, financial condition and ability to service our debt.”

Annual report 2025A · The company itself

“Table of Contents We expect most of the revenues and expenses for any casino that we operate in Macau will be denominated in Hong Kong dollars or Macau patacas; however, a significant portion of debt issued by WML is denominated in U.S. dollars. Fluctuations in the exchange rates resulting in weakening of the Macau pataca or the Hong Kong dollar in relation to the U.S. dollar could have materially adverse effects on our results, financial condition, and ability to service debt.”

Annual report 2025A · The company itself

“Taloudellinen katsaus Vuonna 2024 54% (57) myynnistä ja 53% (52) operatiivisista kuluista oli euromääräisiä, ja 32% (28) myynnistä ja 23% (24) operatiivisista kuluista oli Yhdysvaltain dollareita.”

Annual report 2024A · The company itself

“Koska projektien/laitteiden myynnit/ostot ja pitkäaikaisten sopimusten arvioidut valuuttariskit suojataan, konserni ei odota merkittäviä voittoja/tappioita valuuttakurssimuutoksista vuonna 2025 toiminnassaan lukuun ottamatta sisäistä rahoitusta.”

Annual report 2024A · The company itself

“Kaikki merkittävät kiinteähintaiset ostoja myyntisopimukset suojataan. Suojaukset kattavat arvioidut tulevat rahavirrat sekä avoinna olevat myyntisaamiset ja ostovelat sopimuksiin liittyen.”

Annual report 2024A · The company itself

“Our principal currency exposures for which we enter into cash flow hedges include the Euro, Swedish Krona, Canadian Dollar, Polish Zloty, British Pound and Australian Dollar. Changes in the value of currencies of the countries in which we do business relative to the value of the U.S. Dollar or Euro could affect our ability to sell products competitively and control our cost structure, which has had and may continue to have a material adverse effect on our business, financial condition, cash flows and results of operations.”

Annual report 2025A · The company itself

“Our results of operations, growth prospects and the value of our assets are affected by fluctuations in currency exchange rates, which have had, and may continue to have adverse effects on our reported earnings. More specifically, an increase in the value of the U.S. dollar, relative to other currencies, such as the Chinese Renminbi (“RMB”), Australian Dollar, the British Pound and the Euro, as well as currencies in certain other markets have historically affected and may continue to affect our reported earnings.”

Annual report 2025A · The company itself

“Any significant fluctuation in the value of currencies of countries in which we or our Concepts’ franchisees operate, particularly the RMB in China, could materially impact the U.S. dollar value of royalty payments made to us, which could result in lower revenues, could lead to increased costs and lower profitability to us or our Concepts’ franchisees and/or could cause us or our Concepts’ franchisees to increase prices to customers, which could negatively impact sales in these markets and harm our financial results.”

Annual report 2025A · The company itself

“Table of Contents Our exposure to foreign exchange rate fluctuations on cross-border transactions and the translation of local currency results into U.S. dollars could negatively impact our results of operations. We provide our offerings globally, and higher volatility and fluctuations in foreign exchange rates could have a significant impact on our reported consolidated results of operations, financial condition and cash flows, which are presented in U.S. dollars. Accordingly, significant changes in foreign exchange rates, particularly the Euro, British Pound Sterling and Czech Koruna, has had in the past, and could continue to, cause fluctuations in the reported results of our businesses’ operations that could negatively affect our results of operations.”

Annual report 2025A · The company itself

“Additionally, the strengthening of certain currencies such as the U.S. dollar potentially exposes us to competitive threats from lower-cost producers in other countries.”

Annual report 2025A · The company itself

“•International segment revenue was positively impacted by operational changes made in connection with the Expected Fiscal Year Alignment, leading to an approximate 2.5% to 3.5% increase in sales in the International segment in the reported fourth quarter 2025 due to an acceleration of the timing of sales into the reported fourth quarter of 2025, a trend that we do not expect to recur. •Additionally, International segment revenue was unfavorably impacted by foreign exchange which decreased revenue by approximately $36 million, or 1%, primarily driven by the Brazilian real, Argentinian peso, Turkish lira, Mexican peso, Australian dollar and Canadian dollar.”

Annual report 2025A · The company itself

“The majority of our foreign currency transaction risk results from sales of our products in Canada, a portion of which we manufacture in the U.S., and to a lesser extent from component purchases in India and Europe and payroll in Mexico.”

Annual report 2025A · The company itself

“Foreign exchange rate (net of hedges) +/- 10% change in USD +/- USD 0.3bn”

Annual report 2025A · The company itself

“All else being equal, the sensitivities for 2026 for four key assumptions are listed below: Factors Change Effect on EBIT (full year 2026) Container freight rate +/- 100 USD/FFE +/- USD 1.3bn Container freight volume +/- 100,000 FFE +/- USD 0.01bn Bunker price (net of expected BAF coverage) +/- 100 USD/tonne +/- USD 0.3bn Foreign exchange rate (net of hedges) +/- 10% change in USD +/- USD 0.3bn No company can drive transformative change alone.”

Annual report 2025A · The company itself

“Rörelsens kostnader uppgick under verksamhetsåret till 39,8 MSEK, varav cirka 33 procent representerade kostnader i utländsk valuta. Andelen kostnader i utländsk valuta, huvudsakligen USD och EUR, kan komma att fluktuera då projekten efter hand kommer att befinna sig i senare utvecklingsfaser med potentiellt fler kliniska studier i utlandet.”

Annual report 2024A · The company itself

“Under räkenskapsåret ökade nettoomsättning med 16 procent till 6 042 MSEK (5 210), varav den organiska tillväxten exklusive valutakursförändringar var 9 procent och förvärvad tillväxt var 1 procent. Valutakursförändringar påverkade nettoomsättningen positivt med 6 procent.”

Annual report 2023A · The company itself

“International revenue and costs are subject to the risk that fluctuations in foreign currency exchange rates could adversely affect our financial results when translated into U.S. dollars for financial reporting purposes.”

Annual report 2025A · The company itself

“Approximately 48 percent of our revenue in 2025, 48 percent of our revenue in 2024 and 52 percent of our revenue in 2023 was generated in U.S. dollars.”

Annual report 2025A · The company itself

“We continue to take steps upon contract renewals to sign customers to multi-year contracts and to optimize how we charge customers to maintain alignment between customer traffic volumes, significant cost increases we have experienced due to market dynamics driven by hyperscalers and unit pricing. •Revenue from our international operations continues to grow, particularly from new customer acquisition and cross-selling of incremental solutions. Because we publicly report in U.S. dollars, our reported revenue results are negatively impacted when the U.S. dollar strengthens and benefit when the U.S. dollar weakens.”

Annual report 2025A · The company itself

“These cost increases will increase our future capital expenditures and resulting depreciation expense. •Growth in our international operations incrementally increases our exposure to foreign currency fluctuations. Because we publicly report in U.S. dollars, our expenses are positively impacted when the U.S. dollar strengthens and are negatively impacted when the U.S. dollar weakens.”

Annual report 2025A · The company itself

“We, along with our customers, continue to manage through an uncertain period of fluctuating inflation, regulatory policies and resources that may negatively impact business, economic and political uncertainty, decreased consumer confidence and pressure on prices during contract renewals, uncertain energy supplies, heightened geopolitical tensions and conflict, potential for supply chain disruptions, changes in legislation and regulations, including U.S. and international tax laws, volatility and increasing tensions related to changing trade policies, including announced or expected tariffs, fluctuations in foreign exchange rates and elevated interest rates.”

Annual report 2025A · The company itself

“Foreign Currency Risk Growth in our international operations will incrementally increase our exposure to foreign currency fluctuations as well as other risks typical of international operations that could impact our business, including, but not limited to, differing economic conditions, changes in political climate, differing tax structures and other regulations and restrictions. Because we publicly report in U.S. dollars, our reported revenue results are negatively impacted when the U.S. dollar strengthens and benefit when the U.S. dollar weakens and has an opposite effect on our expenses where our expenses are positively impacted when the U.S. dollar strengthens and are negatively impacted when the U.S. dollar weakens. However, the impact to expenses only partially offsets the impact to our revenue.”

Annual report 2025A · The company itself

“Vår lastbilsverksamhets valutajusterade nettoomsättning minskade med 2% till 360,6 miljarder kronor.”

Annual report 2024A · The company itself

“Den valutajusterade nettoomsättningen minskade med 4% till 19,9 miljarder kronor medan den justerade rörelsemarginalen förbättrades till 17,2% (15,4).”

Annual report 2024A · The company itself

“Valutakursförändringar påverkade negativt med 1.984 Mkr jämfört med 2023.”

Annual report 2024A · The company itself

“Justerat för valutakursförändringar ökade de totala tillgångarna med 20,9 miljarder kronor.”

Annual report 2024A · The company itself

“Lower raw materials prices in the quarter and a negative effect from exchange rate developments also impacted revenue in the quarter.”

Annual report 2025A · The company itself

“Alligators rörelseintäkter består huvudsakligen av ersättningar som erhålls i enlighet med avtal med AbClon Inc. avseende utlicensiering av HLX22/AC101 till Shanghai Henlius Biotech Inc. och licensavtal med Biotheus Inc. Dessa intäkter erhålls i USD och EUR, medan Alligators rörelsekostnader till övervägande del uppstår i SEK och annan utländsk valuta, som exempelvis USD, EUR och GBP. Valutaflöden i samband med köp och försäljning av varor och tjänster i andra valutor än SEK ger upphov till en så kallad transaktionsexponering.”

Annual report 2024A · The company itself

“Det lägre resultatet och den lägre marginalen är en effekt av lägre försäljningsvolym, förändrad kundmix, lägre leverantörsbonus och dyrare inköp på grund av en svag svensk krona.”

Annual report 2024A · The company itself

“Our primary market risk exposures are to changes in interest rates, credit spreads and equity prices, and to a lesser extent, foreign currency exchange rates.”

Annual report 2025A · The company itself

“Valuuttakurssien merkittävä muutos (CZK, USD, SEK) ja muutosten negatiivinen vaikutus yhtiön taloudelliseen tulokseen ja rahoitusasemaan.”

Annual report 2025A · The company itself

“International revenues, foreign-denominated monetary assets and liabilities, and investments in foreign subsidiaries expose us to the risk of fluctuations in foreign exchange rates against the US dollar. Principal currency exposures include the Australian dollar, British pound, Canadian dollar, Euro, and Japanese yen.”

Annual report 2025A · The company itself

“We have experienced and may in the future experience supply shortages, price increases, quality issues, or longer lead times that could harm our operations, driven by raw material or component availability, manufacturing capacity, labor shortages, industry allocations, logistics capacity, inflation, foreign currency exchange rates, tariffs, sanctions and export controls, trade disputes and barriers, forced labor concerns, sourcing requirements, geopolitical tensions, armed conflicts, natural disasters or pandemics, the effects of climate change, power and transmission availability, and significant changes in the financial or business condition of our suppliers.”

Annual report 2025A · The company itself

“Risks Relating to Our Investments in Equity Securities The expected benefits of our investment in ABI may not materialize in the expected manner or timeframe or at all, which could have a material adverse impact on our financial position or earnings. The expected benefits of our investment in ABI may not materialize in the expected manner or timeframe or at all, including due to foreign currency exchange rates; ABI’s business results; ABI’s share price; impairment losses on the value of our investment; our incurrence of additional tax liabilities related to our investment in ABI; and potential reductions in the number of directors that we can have appointed to the ABI board of directors.”

Annual report 2025A · The company itself

“Continued escalation of geopolitical tensions, including the conflict in the Middle East and tensions between China and Taiwan, could result in supply chain disruptions, significant inflationary pressure on raw material prices and other resources (such as energy and natural gas), fluctuations in our customers’ buying patterns given regional shortages of food ingredients and other factors, lower demand by end consumers given rising inflation, enhanced risks to our global technology infrastructure (such as through cyberattack or ransomware attack), exposure to foreign currency fluctuations, credit and capital market disruption which could impact our ability to obtain financing, increased interest rates, the loss of property, and adverse foreign exchange impacts.”

Annual report 2026A · The company itself

“For the year ended June 30, 2026, a hypothetical but reasonably possible adverse change of 1% in the underlying average foreign currency exchange rate for the Euro would have resulted in an adverse impact on our net sales of $49 million.”

Annual report 2026A · The company itself

“Our investments are also subject to market risks and uncertainties, including, in addition to interest rate risk, changes in the level of credit spreads, currency rates and equity prices, each of which has affected and will continue to affect the value of investments in our investment portfolio as well as the performance of, and returns generated by, such investments.”

Annual report 2025A · The company itself

“The value of the U.S. dollar compared to the Euro, British pound and the Japanese yen (the Major Currencies) impacts income for our businesses with substantial international operations.”

Annual report 2025A · The company itself

“As a result, we are exposed to certain foreign currency exchange risks that could reduce U.S. dollar equivalent earnings as well as negatively impact our general account and other proprietary investment portfolios. Appreciation of the U.S. dollar could, and has, unfavorably affect net income from foreign operations, the value of non-U.S. dollar denominated investments and investments in foreign subsidiaries.”

Annual report 2025A · The company itself

“●a global or regional economic slowdown or recession in any of the Company’s end markets (or a prolonging or intensification of such a slowdown or recession), which could negatively affect the financial condition of our customers and result in reduced demand; ●postponement of customer spending, in response to tighter credit, inflationary pressures, financial market volatility and other global economic factors; ●effects of significant changes in economic, monetary and/or fiscal policies, including interest rate changes by the U.S.”

Annual report 2025A · The company itself

“In addition to the direct effects of changes in exchange rates, such changes typically affect the volume of sales or the foreign currency sales price as competitors’ products become more or less attractive. Our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices.”

Annual report 2025A · The company itself

“Anoto har betydande valutaflöden i USD, EUR, GBP och KRW eftersom större delen av faktureringen sker i dessa valutor.”

Annual report 2024A · The company itself

“At December 31, 2025, Cash and cash equivalents and Short-term investments totaled $2.8 billion compared to $1.3 billion at December 31, 2024, an increase of $1.5 billion.”

Annual report 2025A · The company itself

“In addition, a lack of pricing transparency, decreased market liquidity, the strengthening or weakening of foreign currencies against the U.S. Dollar, individually or in tandem, could have a material adverse effect on our results through realized losses, impairments and changes in unrealized positions in our investment portfolio.”

Annual report 2025A · The company itself

“Competition The Company has significant competition in the markets in which it operates based principally on price, foreign exchange rates, quality, global supply, and alternative products, some of which are made from different raw materials than those utilized by the Company.”

Annual report 2025A · The company itself

“Currency fluctuations in particular can have a substantial effect on our cash flow and financial condition. The success of any hedging or other derivative transactions generally will depend on our ability to correctly predict market or foreign exchange changes, the degree of correlation between price movements of a derivative instrument and the position being hedged, the creditworthiness of the counterparty and other factors.”

Annual report 2025A · The company itself

“We are exposed to fluctuations in currency exchange rates, which could adversely affect our business, financial condition, results of operations and prospects. Our sales contracts are primarily denominated in U.S. dollars, and therefore, substantially all of our revenue is not subject to foreign currency risk; however, an increase in the U.S. dollar could result in an increase in the cost of our products to our customers outside of the U.S., which could adversely affect our business, financial condition, results of operations and prospects.”

Annual report 2025A · The company itself

“A stronger U.S. dollar could make our products and services more expensive in foreign countries and therefore reduce demand.”

Annual report 2025A · The company itself

“We are subject to foreign currency exchange rate risk primarily from one of our larger U.K. based brokerage subsidiaries that incurs expenses denominated primarily in British pounds while receiving a substantial portion of its revenues in U.S. dollars.”

Annual report 2025A · The company itself

“In addition, we are subject to foreign currency exchange rate risk from our Australian, Canadian, Indian, Jamaican, New Zealand, Norwegian, Singaporean and various Caribbean and Latin American operations because we transact business in their local denominated currencies.”

Annual report 2025A · The company itself

“Assuming a hypothetical adverse change of 10% in the average foreign currency exchange rate for 2025 (a weakening of the U.S. dollar), earnings before income taxes would have increased by approximately $71 million.”

Annual report 2025A · The company itself

“Finansieringsalternativ och kapitalkostnader påverkas av dynamiken i vår makroekonomiska miljö. Andra förändringar i vår makromiljö, inklusive valutaförändringar och geopolitiska händelser kan påverka vår förmåga att genomföra affärsplaner och säkra finansiering eller värdet på våra tillgångar.”

Annual report 2024A · The company itself

“Factors affecting these items, including conditions in the financial markets, the global economy, political conditions and the markets in which we operate, fluctuations in exchange rates, interest rates and inflation, and tariffs and global supply chain disruptions may have a material adverse effect on our results of operations or financial condition.”

Annual report 2025A · The company itself

“As an example, the net transaction exposure of in-and outflow payments in EUR is a deficit as shown in graph 1. A strengthening in the EUR currency rate against all other currencies with +5% would have a negative impact on the cash flow and profit before tax of –993 and a weakening would have a positive impact of 993.”

Annual report 2024A · The company itself

“Of net financial items totaling USD -39.8 million (2021: USD -22.0 million), USD -21.2 million (2021: USD 19.2 million) related to foreign currency losses (gains).”

Annual report 2022A · The company itself

“Currency fluctuations or devaluations may impact our operating results. Fluctuations or devaluations in foreign currencies relative to the U.S. dollar can impact our revenue and our costs of doing business and create volatility, as well as the costs of doing business of our customers.”

Annual report 2025A · The company itself

“Considering the company’s derivative financial instruments outstanding at December 31, 2025, and the various currency exposures, a hypothetical 10 percent reduction (U.S. dollar strengthening) in currency exchange rates compared to the U.S. dollar would result in an estimated $15 million after-tax reduction in net earnings over a one-year period.”

Annual report 2025A · The company itself

“Two or more launches are expected no earlier than Q4 2026/27. · No deterioration of macroeconomic conditions in our main markets. · Exchange rates against DKK, including in particular USD, CNY and EUR, in line with current exchange rate levels overall. · No significant impact from change in tariffs compared to current levels. · No significant impact from change in supply and demand structures for memory chips.”

Annual report 2026A · The company itself

“Material net USD exposure is hedged using FX contracts or options”

Annual report 2025A · The company itself

“Smallpox Mpox 2,963 mDKK Revenue from our Travel Health portfolio increased by 30% to DKK 2,963 million (2024: DKK 2,287 million), driven by increased demand for Rabipur/RabAvert and Encepur vaccines, and supported by Vimkunya, our chikungunya vaccine launched in 2025.”

Annual report 2025A · The company itself

“Potential disputes with tax authorities could result in additional tax payments Material net USD exposure is hedged using FX contracts or options.”

Annual report 2025A · The company itself

“Bolaget är exponerat för valutaförändringar och säkrar löpande exponeringen i vissa dotterbolag för att motverka denna risk.”

Annual report 2024A · The company itself

“Motsvarande effekt skulle påverka rörelseresultatet med -124 MSEK (-139) för EUR respektive -90 MSEK (-70) för USD.”

Annual report 2024A · The company itself

“Av inköp så sker 22 procent (18) i utländsk valuta, främst USD och EUR.”

Annual report 2024A · The company itself

“Consumer demand for the products and services that we offer could be, or could continue to be, affected by a number of factors, including: real GDP growth, inflation, recession, consumer confidence, employment levels, effects of government closures, cost of living, uncertainty over the availability of government benefits, tax rates, availability of consumer financing, interest rates, housing market conditions, foreign currency exchange rates, the price of oil, gas and other commodities and other macroeconomic trends.”

Annual report 2026A · The company itself

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

Annual report unknown yearA · The company itself

“In fiscal 2026, currency translation had a favorable effect of approximately $20 million on revenues due to the value of the U.S. dollar relative to other currencies in which the Company sells products and services.”

Annual report unknown yearA · The company itself

“BioArctics intäkter består för närvarande i allt väsentligt av royaltyersättningar på faktisk försäljning där betalningar erhålls i EUR samt ersättningar från samarbets-, licens och co-promotionavtal med Eisai. BioArctic köper löpande tjänster i andra valutor än i SEK, framför allt i EUR, USD och GBP. Valutaflöden i samband med köp och försäljning av varor och tjänster i andra valutor än i SEK är föremål för transaktionsexponering.”

Annual report 2024A · The company itself

“Full-year revenue ended at DKK 16.5 billion, almost on par with 2024, impacted by lower raw material prices, product mix and adverse currency effects.”

Annual report 2025A · The company itself

“The development in revenue reflected higher volumes sold, however offset by generally lower raw material prices, changes in customer mix and exchange rates.”

Annual report 2025A · The company itself

“The Group is exposed to market fluctuations in foreign exchange rates. Significant fluctuations in exchange rates between euros and Danish kroner to US dollars may materially adversely affect the reported results. • Revenues are in US dollars for oil and in euros for gas, while operational costs, taxes and investments are primarily in US dollars, euros and Danish kroner.”

Annual report 2024A · The company itself

“Räkenskapsåret 2024 Nettoomsättning Nettoomsättningen för 2024 ökade med 6% till 8 244 miljoner kronor (7 755). Valutaeffekter hade negativ inverkan på årets nettoomsättningstillväxt med ungefär 1 procentenhet och beror främst på att DKK och EUR stärktes mot den svenska kronan jämfört med 2023.”

Annual report 2024A · The company itself

“Uncertain or challenging global economic conditions could also lead to greater fluctuations in foreign currency exchange rates, which could adversely impact our results of operations and financial performance.”

Annual report 2025A · The company itself

“Boule är exponerad för valutarisker då försäljningen i huvudsak sker i USD och EUR. Bolaget är både exponerat i form av både omräkningseffekter till svenska kronor men även transaktionsexponering.”

Annual report 2024A · The company itself

“Our revenues, earnings and cash flow are also exposed to risk from a strengthening U.S. dollar and global inflation, including in the U.S.”

Annual report 2025A · The company itself

“Den löpande exponeringen för valutaförändringar är begränsad då intäkter och kostnader i huvudsak avser samma valuta på respektive marknad. BTS kurssäkrar normalt inte valutaexponeringarna.”

Annual report 2024A · The company itself

“Det vesentligste av eksportomsetningen går til Sverige, Danmark, Storbritannia og Nederland og en endring av den svenske og danske kronen og euro vil derfor slå ut på resultatet. På samme måte vil en svekkelse av norske kroner mot euro og USD være uheldig, fordi en vesentlig del av importen betales i euro og USD.”

Annual report 2024A · 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

“In certain foreign countries where we price our products and services in U.S. dollars, a decrease in value of the local currency relative to the U.S. dollar results in an increase in the prices for our products and services compared to those products of our competitors that are priced in local currency. This could result in our prices being uncompetitive in certain markets.”

Annual report 2025A · The company itself

“In certain countries where we may invoice customers in the local currency, our revenue benefits from a weaker dollar and is adversely affected by a stronger dollar. The opposite impact occurs in countries where we record expenses in local currencies. In those cases, our costs and expenses benefit from a stronger dollar and are adversely affected by a weaker dollar.”

Annual report 2025A · The company itself

“MARKET RISK PROFILE Our primary market risk exposures include interest rate risk, foreign exchange risk and commodity pricing risk. We are exposed to market risk primarily from the following operations and activities: •Traditional banking activities of deposit gathering and lending; •Asset/liability management activities including the management of investment securities, short-term and long-term borrowings and derivatives; •Foreign operations within our Credit Card and Consumer Banking businesses; and •Customer accommodation activities within our Commercial Banking business.”

Annual report 2025A · The company itself

“Foreign Exchange Risk Foreign exchange risk represents exposure to changes in the values of current holdings and future cash flows denominated in other currencies. We are exposed to foreign exchange risk primarily from the intercompany funding denominated in pound sterling (“GBP”) and the Canadian dollar (“CAD”) that we provide to our businesses in the U.K. and Canada and net equity investments in those businesses. We are also exposed to foreign exchange risk due to changes in the dollar-denominated value of future earnings and cash flows from our foreign operations and from our Euro (“EUR”)-denominated borrowing.”

Annual report 2025A · The company itself

“In addition, we conduct our business in U.S. dollars and various functional currencies of our foreign subsidiaries. Changes in foreign currency exchange rates could adversely affect our financial results, which are reported in U.S. dollars.”

Annual report 2026A · The company itself

“AUD $ 0.65 $ 0.65 CAD $ 0.72 $ 0.71 EUR $ 1.16 $ 1.06 GBP $ 1.32 $ 1.27 If the November 30, 2024 currency exchange rates had been used to translate our November 30, 2025 non-U.S. dollar functional currency operations’ assets and liabilities (instead of the November 30, 2025 U.S. dollar exchange rates), our total assets would have been lower by $1.4 billion and our total liabilities would have been higher by $1.3 billion.”

Annual report 2025A · The company itself

“Newbuild Currency Risks At November 30, 2025, our newbuild currency exchange rate risk primarily relates to euro-denominated newbuild contract payments, which represent a total commitment of $8.4 billion and relate to newbuilds scheduled to be delivered to non-euro functional currency brands. The functional currency cost of each of these ships will increase or decrease based on changes in the exchange rates until the payments are made under the shipbuilding contract. We may utilize foreign currency derivatives to mitigate some of this foreign currency exchange rate risk.”

Annual report 2025A · The company itself

“Foreign Currency Exchange Rate Risk Our operations in Europe, Canada, and Asia Pacific are subject to increased currency translation risk as revenues and expenses are denominated in foreign currencies, primarily the Euro, British pound, Canadian dollar, Australian dollar, and Japanese yen. We also have de minimis exposure to other foreign currencies, including the Singapore dollar, Philippine peso, and Hong Kong dollar.”

Annual report 2025A · The company itself

“We seek to mitigate market risk using a number of techniques, including maintaining and managing the assets and liabilities of our international operations consistent with the foreign currencies of the underlying insurance and reinsurance businesses, thereby limiting exchange rate risk to net assets denominated in foreign currencies. From time to time, we use derivatives to hedge planned cross-border transactions, and designate certain derivatives to hedge foreign currency risk on our euro denominated debt and exposure in the net investments of certain foreign subsidiaries.”

Annual report 2025A · The company itself

“Our business and results of operations are exposed to movements in foreign currency exchange rates. Some of our transactions are non-U.S. Dollar denominated, with the Euro, Indian Rupee, and Canadian Dollar being our most significant foreign currency revenue exposures.”

Annual report 2025A · The company itself

“During fiscal 2025, 9.9% of revenue was non-U.S. Dollar denominated.”

Annual report 2025A · The company itself

“We are exposed to fluctuations in currency exchange rates that could negatively impact our financial results and cash flows. Because a significant portion of our business is conducted outside the United States, we are exposed to adverse movements in foreign currency exchange rates, including in emerging markets where currencies may be extremely volatile.”

Annual report 2026A · The company itself

“Trading Risk We are exposed to market risk primarily through client facilitation activities from certain derivative and foreign exchange products as well as underwriting and market making activities. Market risk exposure arises from fluctuations in interest rates, basis spreads, volatility, foreign exchange rates, equity prices, and credit spreads across various financial instruments. Client facilitation activities consist primarily of interest rate derivatives, financially settled commodity derivatives, and foreign exchange contracts where we enter into offsetting trades with a separate counterparty or exchange to manage our market risk exposure.”

Annual report 2025A · The company itself

“These estimates are based on comparable EUR–SEK and EUR–NOK exchange rates Divestments decreased total net rental income by EUR 18.4 million as per the table below, while Kista Galleria increased total net rental income by EUR 1.2 million.”

Annual report 2025A · The company itself

“Currency risk arises due to Cloudberry’s exposure to multiple currencies, as power trading in the Nord Pool market is denominated in EUR, while the company reports its financial statements in NOK. Additionally, Cloudberry operates in Denmark, Sweden, and Norway and holds investments in associated companies, resulting in exposure to DKK, SEK, and EUR.”

Annual report 2024A · The company itself

“Risks Related to Capitalization and Financial Markets •Foreign currency risk may negatively affect our revenues, cost of sales, and operating margins, and could result in foreign exchange losses.”

Annual report 2026A · The company itself

“Geopolitical developments, such as trade wars and foreign exchange limitations can also increase the severity and levels of unpredictability globally and increase the volatility of global financial and crypto asset markets.”

Annual report 2025A · The company itself

“Our foreign currency exposure is primarily related to transactions denominated in Euros and British Pounds attributable to cash and cash equivalents, customer custodial funds and customer custodial fund liabilities, and intercompany transactions where the transaction currency is different from a subsidiary’s functional currency. Changes in foreign exchange rates, and in particular a weakening of foreign currencies relative to the U.S. dollar may negatively affect our results of operations as expressed in U.S. dollars.”

Annual report 2025A · The company itself

“In an effort to minimize the impact on earnings of foreign currency rate movements, we engage in a combination of selling price increases, where permitted, sourcing strategies, cost containment measures and selective hedging of foreign currency transactions.”

Annual report 2025A · The company itself

“Quantitative and Qualitative Disclosures about Market Risk Financial Instrument Market Risk We and certain of our subsidiaries hold and issue derivative contracts and financial instruments that expose our cash flows or earnings to changes in commodity prices, foreign currency exchange rates or interest rates. We may use financial and commodity-based derivative contracts to manage the risks produced by changes in the prices of natural gas, crude oil and related products; fluctuations in interest rates and foreign currency exchange rates; or to capture market opportunities.”

Annual report 2025A · The company itself

“QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK As a result of our global operating, investment, acquisition, divestiture, and financing activities, we are exposed to market risk associated with changes in foreign currency exchange rates, commodity prices, and interest rates. These risks may be influenced by, among other factors, trade policies, tariffs, and foreign or domestic legal and regulatory requirements. To manage the volatility relating to these risks, we periodically purchase and/or sell derivative instruments including foreign currency forward and option contracts, commodity swap contracts, cross-currency swap contracts, interest rate swap contracts, and Pre-issuance hedge contracts.”

Annual report 2026A · The company itself

“Overview The following is a summary of results from continuing operations for the year ended December 31, 2025: •The company reported net sales of $17,401 million, an increase of 3 percent versus the year ended December 31, 2024, reflecting a 1 percent increase in price and a 3 percent increase in volume, partially offset by a 1 percent unfavorable currency impact. •Cost of goods sold ("COGS") totaled $9,172 million, down from $9,529 million for the year ended December 31, 2024, primarily driven by ongoing cost and productivity actions, raw material deflation, lower commodity prices, and a reduction in net royalty expense, with a partial offset from higher volumes. •Restructuring and asset related charges - net were $146 million, a decrease from $288 million for the year ended December 31, 2024.”

Annual report 2025A · The company itself

“A portion of the products we purchase is paid for in a currency other than the local currency of the country in which the goods are sold. Currency fluctuations may increase our merchandise costs and may not be passed on to members and thus may adversely affect our results of operations.”

Annual report 2025A · The company itself

“Koncernen har försäljning utanför Sverige som sker främst i EUR och USD.”

Annual report 2024A · The company itself

“förhållande till USD, med alla andra variabler konstanta, skulle årets omsättning ha varit 13,1 MSEK (12,6 MSEK i 2023) högre/lägre. Om den svenska kronan hade försvagats/förstärkts med 5 procent i förhållande till USD, med alla andra variabler konstanta, uppgår den totala effekten på årets resultat av effekterna från omräkningsrisken och transaktionsrisken till att vinsten före skatt skulle ha varit 14,0 MSEK (10,1 MSEK i 2023) lägre/högre.”

Annual report 2024A · The company itself

“• Changes to bunker prices, both overall and between products. • Changes to carbon allowance prices in relation to EU ETS. • Changes to alternative fuel prices in relation to FuelEU Maritime. • Changes to foreign exchange levels. • Changes to interest rates. • Breach of covenants. • Inability to make payments. • Loss of outstandings related to ongoing and completed voyages. • Loss of market values related to chartered-out vessels or cargoes.”

Annual report 2025A · The company itself

“Increased strength of the U.S. dollar increases the effective price of our products sold in U.S. dollars into other countries, which can adversely affect sales or require us to lower our prices.”

Annual report 2025A · The company itself

“Decreased strength of the U.S. dollar adversely affects the cost of materials, products and services we purchase overseas.”

Annual report 2025A · The company itself

“Olika bolag inom koncernen har olika funktionella valutor. Dedicare är exponerat både mot NOK, DKK, EUR och GBP. Valutakursfluktuationer kan komma att få en negativ effekt på Dedicares finansiella ställning och resultat.”

Annual report 2024A · The company itself

“Our international operations face many risks and uncertainties, including varied local economic and labor conditions; political instability; public health issues; changes in the U.S. and international regulatory environments; the impacts of trade protection measures, including increases in tariffs and trade barriers, and other changes in international trade arrangements that could adversely affect our ability to conduct business in non-U.S. markets; changes in tax laws; potential theft or other compromise, and limited or unfavorable protection, of our technology, data, or intellectual property; copyright levies; and volatility in foreign currency exchange rates.”

Annual report 2026A · The company itself

“In addition, significant or volatile changes in exchange rates between the U.S. dollar and other currencies, and the imposition of exchange controls or other currency restrictions, may have a material adverse effect on our liquidity, financial condition and results of operations.”

Annual report 2025A · The company itself

“Foreign Currency Exchange Risk A substantial portion of our operations are located in the United States, and the majority of our sales since inception have been made in U.S. dollars. Historically, our exposure to foreign currency fluctuations is more significant with respect to our revenue than our expenses, as a significant portion of our expenses are denominated in U.S. dollars, such as cost of sales and operating expenses.”

Annual report 2025A · The company itself

“Valutarisken innebär hur värdet på finansiella instrument varierar på grund av förändringar i valutakurser. Koncernens åtgärder för att hantera den transaktionsmässiga valutarisken är att vid behov köpa valuta för att minimera den kortsiktiga resultatpåverkan och samtidigt skapa långsiktigt handlingsutrymme.”

Annual report 2024A · The company itself

“I første halvår 2024 var rentene i Europa høyere enn de hadde vært på lenge. Kombinert med forventningen om rentefall i Norge, førte dette til stor interesse fra europeiske investorer.”

Annual report 2024A · The company itself

“Tilgangen til kort finansiering var god gjennom hele året, og USD har fortsatt vært den viktigste valutaen.”

Annual report 2024A · The company itself

“DNB gjorde utstedelser i SEK-, JPY-, NOK-, EUR-, USD- og CHF-markedene for totalt 121 milliarder kroner i 2024, sammenliknet med 101milliarder kroner i 2023.”

Annual report 2024A · The company itself

“The Companies’ exposure to foreign currency exchange rate risk is related to certain fixed price contracts associated with the CVOW Commercial Project which it manages through foreign currency exchange rate derivatives. The contracts include services denominated in currencies other than the U.S. dollar for approximately €2.6 billion and 5.1 billion kr.”

Annual report 2025A · The company itself

“the currency exchange rates, especially the US dollar against DKK, will remain at the current level”

Annual report 2025A · The company itself

“The outlook for 2026 is based on the assumption that the currency exchange rates, especially the US dollar against DKK, will remain at the current level.”

Annual report 2025A · The company itself

“GLOBAL ECONOMIC AND POLITICAL ENVIRONMENT ​ Global Economies ​ Approximately half of our sales are outside of the U.S. Our international operations subject us to changes in economic conditions and foreign currency exchange rates as well as political uncertainty in some countries which could impact future operating results.”

Annual report 2025A · The company itself

“The change mainly referred to acquisitions and changes in additional considerations that increased net debt by approximately MSEK 500 and exchange rate fluctuations of MSEK 506.”

Annual report 2024A · The company itself

“Excluding exchange rate fluctuations, discontinued operations and acquisitions, net sales declined organically by two percent.”

Annual report 2024A · The company itself

“För koncernen är de främsta marknadsriskerna valutakursrisker, ränterisker och råvaruprisrisker.”

Annual report 2024A · The company itself

“In addition, changes in the relative values of currencies occur from time to time and have affected our operating results and could do so in the future. While we monitor our exchange rate exposures and attempt to mitigate this exposure through hedging activities, this risk could adversely affect our operating results.”

Annual report 2025A · The company itself

“De marknadsrisker som påverkar koncernen består främst av valutarisker, då EG7 för närvarande är i en position utan externa lån och därmed begränsade ränterisker.”

Annual report 2024A · The company itself

“Support & underhåll tjänster Licensintäkter R&D investering Kostnad för R&D Aktiverade produktutvecklingskostnader Kostnader för forskning och utveckling Kostnader för forskning och utveckling, % av omsättning Finansiella risker Kommentar Exponering Valuta Valutarisk innebär att värdet på finansiella tillgångar/skulder kan variera på grund av förändringar i valutakurser. Enea är ett internationellt företag och huvuddelen av försäljningsintäkterna erhålls i amerikanska dollar samt euro.”

Annual report 2024A · The company itself

“Our operations in jurisdictions outside the U.S. are subject to various risks inherent in foreign operations. These risks include, among other risks: •increases in taxes and governmental royalties; •additional and potentially unfamiliar laws and policies governing the operations of foreign-based companies and changes in such laws and policies; •loss of revenue, loss of or damage to equipment, property and other assets and interruption of operations as a result of expropriation, nationalization, acts of terrorism, war, civil unrest and other political risks; •unilateral or forced renegotiation, modification or nullification of existing contracts with governmental entities; •difficulties enforcing our rights against a governmental agency because of the doctrine of sovereign immunity and foreign sovereignty over international operations; •competition from companies that have established strategic long-term positions or have strong governmental relationships in the foreign jurisdictions in which we operate; and •currency restrictions and exchange rate fluctuations.”

Annual report 2025A · The company itself

“Politiska villkor sätter förutsättningar för utveckling av projekt för förnybar energi, men branschen påverkas även av konjunktur, ränteläge, elpriser och valutakurser.”

Annual report 2024A · The company itself

“Inflations- och valutaexponering En stor del av Eolus försäljningar av anläggningar för produktion av förnybar el samt inköp av komponenter sker i EUR och USD.”

Annual report 2024A · The company itself

“Försäljningen i euro svarade för 1 134 mkr (1 212) vilket utgjorde 50,2 procent (49,1) av den totala försäljningen.”

Annual report 2024A · The company itself

“Orderingången ökade 6 % till MSEK 62 213 (58 899), motsvarande en organisk tillväxt på 3%. Förvärv bidrog med 5% medan valutan påverkade negativt med -2%. • Nordamerika (27 % av orderingång): +16% • Sydamerika (13% av orderingång): -1% • Europa (13 % av orderingång): +11% • Afrika/Mellanöstern (16 % av orderingång): +3% • Asien/Australien (31% av orderingång): +6% Försäljningsbrygga Orderingång Intäkter MSEK MSEK Organisk 3 2 Valuta -2 -2 Struktur/övrigt 5 5 Intäkter Intäkterna ökade 5% till MSEK 63 604 (60 343) motsvarande en organisk tillväxt om 2%.”

Annual report 2024A · The company itself

“Where our prices are denominated in U.S. dollars, our sales and revenues could be adversely affected by declines in foreign currencies relative to the U.S. dollar, thereby making our offerings more expensive in local currencies.”

Annual report 2025A · The company itself

“Therefore, any weakness of the U.S. dollar may have a positive impact on our consolidated results of operations because the currencies in the foreign countries in 37 Table of Contents which we operate may translate into more U.S. dollars. However, if the U.S. dollar strengthens relative to the currencies of the foreign countries in which we operate, our consolidated financial position and results of operations may be negatively impacted as amounts in foreign currencies will generally translate into fewer U.S. dollars.”

Annual report 2025A · The company itself

“To the extent we are paying contractors in foreign currencies, our operations could cost more than anticipated as a result of declines in the U.S. dollar relative to foreign currencies.”

Annual report 2025A · The company itself

“Bribery Act) and defending against inappropriate or unjustified enforcement or other actions by such agencies; •changes in foreign currency exchange rates, especially in the euro, Chinese yuan, British pound, Canadian dollar, Australian dollar, Mexican peso, Hong Kong dollar, and Japanese yen, which can affect our sales levels and foreign currency sales prices; •loss or delay in the collection of accounts receivable; •any liability resulting from and the costs of defending against class-action, derivative, and other litigation, such as wage-and-hour, joint employment, securities, vehicle accident, and discrimination and retaliation claims, claims related to our reporting and disclosure of sustainability topics, and any other legal or governmental proceedings, including the matters discussed in Note 19 of the consolidated financial statements included in “Item 8.”

Annual report 2026A · The company itself

“While we are a global provider of transportation, e-commerce, and business services, the majority of our transactions during the periods presented in this Annual Report are denominated in U.S. dollars.”

Annual report 2026A · The company itself

“At May 31, 2026, the result of a uniform 10% strengthening in the value of the dollar relative to the currencies in which our transactions are denominated would result in a decrease in operating income of approximately $541 million for fiscal year 2026, assuming operations were consistent with the prior year.”

Annual report 2026A · The company itself

“We are exposed to foreign currency exchange rate risk with respect to the USD relative to the local currencies of our international subsidiaries, predominantly CAD, arising from transactions in the ordinary course of business (such as sales and loans to wholly owned subsidiaries, sales to third-party customers, and purchases from suppliers). Fluctuations in foreign currency exchange rates could affect our results of operations and impact reported net sales and net income.”

Annual report 2025A · The company itself

“Gross profit Gross profit may be affected by various factors, including the selling prices of our modules, our manufacturing costs, the capacity utilization of our manufacturing facilities, and foreign exchange rates.”

Annual report 2025A · The company itself

“Our results of operations may be adversely affected by changes in foreign currency exchange rates. We are subject to risks related to changes in currency rates as a result of our investments in foreign operations and from revenues generated in currencies other than the U.S. dollar. Revenues and profit generated by such international operations will increase or decrease compared to prior periods as a result of changes in foreign currency exchange rates.”

Annual report 2025A · The company itself

“Table of Contents •Changes in our credit rating or capital market conditions may limit our access to financing or increase our borrowing costs. •Fluctuations in foreign currency exchange rates could increase our operating costs and adversely affect our results of operations.”

Annual report 2026A · The company itself

“As a result of the current exchange rates versus the Danish krone, the reported revenue growth is expected to be around one (1) percentage points lower”

Annual report 2025A · The company itself

“2026 Organic revenue growth Organic revenue growth is expected to be in the range of -1% to 4%.”

Annual report 2025A · The company itself

“Additionally, although we price our products and services worldwide in U.S. dollars, currency fluctuations in certain countries and regions have in the past, and may in the future, negatively impact actual prices that partners and customers are willing to pay in those countries and regions.”

Annual report 2025A · The company itself

“Appreciation of the U.S. dollar could in the future moderate revenues from managing our products internationally, or could affect relative investment performance of certain of our products invested in non-U.S. securities.”

Annual report 2025A · The company itself

“Fluctuations in commodities prices are caused by varied and complex factors beyond our control, including global supply and demand impacted by industry production and inventory levels; global economic and political conditions (such as election results, level of economic growth, or recession and political or geopolitical tensions and conflicts); national and international regulatory, trade and/or tax policies, including tariffs and other controls or restrictions on imports and exports; commodities investment activity and speculation; interest rates; current inflation rates and expectations regarding future inflation rates; the strength of the U.S. dollar compared to foreign currencies; the price and availability of substitute products; and changes in technology.”

Annual report 2025A · The company itself

“Bolaget mottager större delen av sina intäkter i USD, EUR och SEK, medan kostnader för ersättning till medarbetare och övriga rörelsekostnader på icke-svenska orter är i EUR, UAH, RUB och USD samt mindre regionala valutor.”

Annual report 2024A · The company itself

“FOREIGN CURRENCY RISK A significant portion of our revenues are typically derived from sales outside of the United States. Among the major foreign currencies in which we conduct business are the Euro, the British Pound, the Japanese Yen, the Australian dollar and the Canadian dollar.”

Annual report 2025A · The company itself

“Additionally, if the U.S. dollar were to depreciate significantly against the currencies in which we purchase raw materials from foreign suppliers, our cost of goods sold could increase materially, which would adversely affect our results of operations.”

Annual report 2025A · The company itself

“The Group has also financed the German properties in EUR to reduce currency risk.”

Annual report 2025A · The company itself

“Inflasjon, som delvis har sin årsak i en svakere norsk krone, har også bidratt til økning i reparasjonskostnadene.”

Annual report 2024A · The company itself

“Financial Risks •We are subject to risks associated with changes in interest rates or currency exchange rates and may not effectively hedge against these risks, which could adversely affect our business, financial condition, results of operations and cash flows. •A downgrade in the ratings of our debt could restrict our ability to access the debt capital markets and increase our interest costs. •Failure to maintain effective internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act of 2002 (the "Sarbanes-Oxley Act") could have a material adverse effect on our business.”

Annual report 2025A · The company itself

“Annual EBITA impact from a 5% increase in currency before hedging ... USD -28”

Annual report 2025B · From the report

“We have in the past, and may in the future, experience lower growth rates in customer demand due to factors including inflation, foreign currency headwinds and other factors that may not be known to us.”

Annual report 2025A · The company itself

“Foreign Exchange Forward Contracts A portion of our bookings, revenue and operating expenses is denominated in foreign currencies, which are subject to exchange rate fluctuations. Our most significant foreign currency exposures are the British pound, the Canadian dollar and the Euro.”

Annual report 2025A · The company itself

“Försäljningskontrakt tecknas primärt i USD, EUR och CNY beroende på var kunderna är lokaliserade, medan kostnaderna främst är i USD, CNY, PLN och SEK. Förändringar i valutakurser påverkar Gränges resultat- och balansräkning samt kassaflöde.”

Annual report 2024A · The company itself

“Gränges räntebärande upplåning sker i huvudsak i SEK, USD och CNY till rörlig ränta. Ändrade ränte nivåer kan påverka koncernens resultat och kassaflöde och/eller det verkliga värdet på finansiella tillgångar och skulder.”

Annual report 2024A · The company itself

“Harboes salg og indkøb i fremmed valuta sker fortsat for størstedelen af koncernens aktiviteter i EUR, hvor valutarisikoen anses for at være begrænset.”

Annual report 2026A · The company itself

“Going forward, the region continues Sauna market demand continued to increase in the region in 2025. Despite volatility related to trade policies and the weak U.S. dollar, the positive longterm fundamentals of the high-potential market – including growing awareness of sauna and its health benefits – continued to support demand.”

Annual report 2025A · The company itself

“De viktigaste valutorna i koncernens betalningsflöden är sek, usd och eur.”

Annual report 2024A · The company itself

“Olemassa olevan tilauskannan rahavirtojen suojaamisesta huolimatta Yhdysvaltain dollarin heikentyminen voi pidemmällä aikavälillä heikentää Hiabin tulosta. Vastaavasti dollarin vahvistuminen voi parantaa Hiabin tulosta.”

Annual report 2025A · The company itself

“Transaktioriski syntyy konserniyhtiöiden harjoittaessa ulkomaanrahan määräistä tuontia ja vientiä sekä konsernin ulkopuolelle että konsernin sisällä. Transaktioriskin hallinnan tavoitteena on suojata konsernin liiketoiminta valuuttakurssien muutoksilta ja antaa liiketoimintayksiköille aikaa reagoida ja mukautua valuuttakurssitason vaihteluun.”

Annual report 2025A · The company itself

“2024 compared with 2023 Net sales increased due to the following: •Incremental sales from recent acquisitions, •Increased pricing and price adjustments to offset inflation, and •Higher sales volumes, •Partially offset by unfavorable impact of foreign currency translation, driven by the strengthening of the U.S. dollar against the Turkish lira, Chinese renminbi, and Canadian dollar, offset by the weakening of the U.S. dollar against the British pound.”

Annual report 2025A · The company itself

“The Company’s foreign operations are subject to the risks described above, as well as risks related to fluctuations in currency values, foreign currency exchange controls, compliance with foreign regulations and tax laws, compliance with applicable U.S. laws, including the Foreign Corrupt Practices Act, and other economic or political uncertainties.”

Annual report 2025A · The company itself

“During the third quarter of fiscal 2025, the Company repatriated $44 million in cash from an international subsidiary and recognized foreign withholding taxes on the one-time distribution.”

Annual report 2025A · The company itself

“As such, our operating results could be affected by changes in foreign currency exchange rates or weak economic conditions in the foreign markets in which we sell our products, purchase goods or otherwise incur costs to operate foreign subsidiaries. As a percentage of the Company’s total Net sales, the net sales of foreign operations, for which transactions are primarily in local currencies were 7% in 2025, 8% in 2024 and 8% in 2023, with the Canadian, UK, and Brazilian operations representing approximately 33%, 24%, and 19%, respectively, of 2025 total international Net sales. To manage this exposure, we closely monitor the working capital requirements of our international units and we may enter into forward foreign exchange contracts to mitigate risk related to receipts from customers and payments to suppliers.”

Annual report 2025A · The company itself

“We are exposed primarily to interest rate risk as a result of offering a wide array of financial products to our customers, and secondarily to price risk from trading securities, securities owned by our broker-dealer subsidiaries, foreign exchange positions, equity investments, and investments in securities backed by mortgage loans.”

Annual report 2025A · The company itself

“In 2025, the relative weakening of the U.S. dollar against foreign currencies had a favorable impact on our revenues and results of operations. In 2024 the relative strengthening of the U.S. dollar against foreign currencies had an unfavorable impact on our revenues and results of operations. While future changes in foreign currency exchange rates are difficult to predict, our revenues and earnings may be adversely affected if the U.S. dollar strengthens against foreign currencies.”

Annual report 2025A · The company itself

“Approximately 28% of our revenue was denominated in foreign currencies for the year ended December 31, 2025.”

Annual report 2025A · The company itself

“We are affected by fluctuations in currency exchange rates. We are exposed to adverse as well as beneficial movements in currency exchange rates. Although most of our sales occur in U.S. dollars, operating expenses and capital expenditures may be paid in local currencies. An increase in the value of the dollar can increase the real cost to our customers of our products in those markets outside the U.S. where we sell in dollars, and a weakened dollar can increase the cost of expenses such as payroll, utilities, tax and marketing expenses, as well as non-U.S. dollar capital expenditures.”

Annual report 2025A · The company itself

“Certain assets, liabilities, revenues and expenses of foreign subsidiaries are denominated in the local functional currency of such subsidiaries.”

Annual report 2025A · The company itself

“In certain markets, our OUS sales are denominated in U.S. dollars. As a result, an increase in the value of the U.S. dollar relative to foreign currencies could make our products less competitive and/or less affordable in those OUS markets.”

Annual report 2025A · The company itself

“We also purchase certain product components from non-U.S. suppliers in local currency.”

Annual report 2025A · The company itself

“•As many of our subsidiary operations are located outside of the U.S. and have functional currencies other than the U.S. Dollar, changes in the exchange rates to the U.S. Dollar impact our reported financial results.”

Annual report 2025A · The company itself

“Däremot förekommer valutaexponering i noterade bolag som är noterade på utländska börser eller har utländsk valuta som basvaluta. Därtill kommer in - direkta valutakursrisker då flertalet av de noterade bolagen har internationell verksamhet.”

Annual report 2022A · The company itself

“Nettoexponering i utländsk valuta efter säkringar, Mkr 31/12 2022 31/12 2021 EUR 20 360 18 505 USD 64 156 60 167 Valutor, övriga Europa och Nordamerika 16 404 15 259 Valutor, Asien 3 589 2 678 Den ökade nettoexponeringen i EUR beror på stärkt EUR mot kronor.”

Annual report 2022A · The company itself

“Försäljningen på internationella marknader sker främst i USD, EUR och GBP.”

Annual report 2024A · The company itself

“The majority of our Research & Development Solutions global contracts are denominated in U.S. dollars or Euros while our operating costs in foreign countries are denominated in various local currencies. Fluctuations in the exchange rates of the currencies we use to contract with our customers and the currencies in which we incur cost to fulfill those contracts can have an adverse impact on our results of operations.”

Annual report 2025A · The company itself

“Koncernens nettoomsättning ökade med 7 procent till 6 585 Mkr (6 139). Den valutarensade försäljningen ökade med 8 procent under året.”

Annual report 2024A · The company itself

“The Norwegian krone traded at historically low levels against the US dollar and the Euro during 2024, negatively impacting the differential between Nordic and distributed deliveries.”

Annual report 2024A · The company itself

“MARKET RISK MANAGEMENT Market risk is the risk associated with the effect of changes in market factors such as interest and foreign exchange rates, equity and commodity prices, credit spreads or implied volatilities, on the value of assets and liabilities held for both the short and long term.”

Annual report 2025A · The company itself

“Valutarisk är risken för att verkligt värde eller framtida kassaflöden från ett finansiellt instrument fluktuerar, på grund av förändring i utländska valutakurser. Den främsta exponeringen härrör från omräkningen av tillgångar och skulder i utländska valutor samt i omräkningen av utländska verksamheters tillgångar och skulder till moderbolagets funktionella valuta, omräkningsexponering.”

Annual report 2024A · The company itself

“In 2025, 2024, and 2023, approximately 72 percent, 71 percent, and 75 percent, respectively, of our revenues were generated in U.S. dollars.”

Annual report 2025A · The company itself

“The unfavorable effects of changes in foreign currency exchange rates, principally as a result of the strength of the U.S. dollar, had an immaterial impact on our revenue in the year ended October 31, 2025.”

Annual report 2025A · The company itself

“Foreign exchange rates can materially impact the valuations of our investments that are denominated in currencies other than the U.S. dollar. We make investments and receive capital commitments and have liabilities that are denominated in currencies other than the U.S. dollar. The appreciation or depreciation of the U.S. dollar is expected to contribute to a decrease or increase, respectively, in the U.S. dollar value of our non-U.S. investments to the extent unhedged.”

Annual report 2025A · The company itself

“For the year ended December 31, 2025, the euro rose 13.4%, the British pound rose 7.7%, the Japanese yen rose 0.3%, and the Chinese renminbi rose 4.5%, respectively, relative to the U.S. dollar.”

Annual report 2025A · The company itself

“Vuoden 2025 keskimääräinen EUR/USD-valuuttakurssi oli neljä prosenttia korkeampi kuin edellisvuonna.”

Annual report 2025A · The company itself

“Valuta Konsernets finanspolicy sier at kontrakter over en viss størrelse skal valutasikres ved inngåelse, og disse blir i hovedsak sikret med valutaterminkontrakter (virkelig verdisikringer). Konsernet bruker i særskilte tilfeller terminkontrakter eller opsjoner som kontantstrømsikringer, for eksempel ved store tilbud der sannsynligheten for kontraktstildeling vurderes å være høy.”

Annual report 2024A · The company itself

“•We are subject to limitations on the transfers of cash to and from our subsidiaries, limitations of the pataca and HKD exchange markets and restrictions on the export of the Renminbi.”

Annual report 2025A · The company itself

“Like most U.S. companies, our effective income tax rate reflects the fact that income earned and reinvested outside the U.S. is taxed at local rates, which are often lower than U.S. tax rates. From time to time, U.S. federal, state and local governments and foreign governments make substantive changes to income tax, indirect tax and gaming tax rules and the application of these rules, which could result in higher taxes than would be incurred under existing tax law or interpretation.”

Annual report 2025A · The company itself

“Our current market risk exposures are primarily related to interest rates and foreign currency fluctuations.”

Annual report 2026A · The company itself

“FOREIGN CURRENCY RISK Although the majority of our transactions are denominated in U.S. dollars, some of our transactions are denominated in foreign currencies. Our foreign currency exchange rate risk relates to receipts from customers, payments to suppliers and certain intercompany transactions denominated in currencies other than our (or one of our subsidiaries’) functional currency.”

Annual report 2026A · The company itself

“Förvärv bidrog med 7,7% och valutakursförändringar påverkade omsättningen negativt med 0,3%.”

Annual report 2024A · The company itself

“For example, a portion of our expenses are denominated in the U.K. pound sterling, Chinese yuan and Thai baht. In addition, we also have term loans denominated in Japanese Yen.”

Annual report 2026A · The company itself

“The strength of our operations translated into record-high cash flow, with $662 million from operating activities and $540 million in adjusted free cash flow , or $2.26 per share.”

Annual report 2024A · The company itself

“Production costs during the year also benefited from a weakening of the BRL against the USD.”

Annual report 2024A · The company itself

“2025 cash costs are based on various assumptions and estimates, including but not limited to: production volumes, commodity prices (Cu: $4.40/lb, Au: $2,500/oz, Mo: $17.00/lb, Ag: $30.00/oz), foreign exchange rates (USD/CLP:900, USD/BRL:5.50) and operating costs.”

Annual report 2024A · The company itself

“In general, the pricing for purchases and sales of most products is determined by global market forces, including the impacts of foreign exchange rates relative to the pricing of the underlying raw materials, most of which are priced in U.S. dollars.”

Annual report 2025A · The company itself

“Valutarisken i leverantörsskulden per årsskiftet har en bedömd resultatpåverkan efter skatt vid +/- 10 procents valutakursförändring mot SEK för USD +/- 1 350 (860) kkr och för EUR +/- 780 (1 270) kkr.”

Annual report 2024A · The company itself

“Eurooppalaisen sijoittajan näkökulmasta dollarin heikentyminen erityisesti alkuvuoden aikana painoi yhdysvaltalaisten osakkeiden tuottoja ja hillitsi siten myös globaalia osakemarkkinaa.”

Annual report 2025A · The company itself

“Valutarisk är risken för att verkligt värde av eller framtida kassaflöden från ett finansiellt instrument varierar på grund av förändringar i valutakurser.”

Annual report 2024A · The company itself

“For example, fluctuations in interest rates and foreign exchange rates between the U.S. dollar and foreign currencies may adversely affect our results of operations.”

Annual report 2025A · The company itself

“Continued weakening of the U.S. dollar against foreign currencies would further increase the translated U.S. dollar value of the Company’s net investments in its non-U.S. subsidiaries, as well as the translated U.S. dollar value of cash repatriations from those subsidiaries.”

Annual report 2025A · The company itself

“If foreign exchange rates of major currencies (Euro, British Pound, Australian dollar and Canadian dollar) moved 10% in the same direction against the U.S. dollar compared with the foreign exchange rates in 2025, the Company estimates 54 net operating income would increase or decrease by approximately $109 million.”

Annual report 2025A · The company itself

“Since we operate in many countries, a percentage of our international operational expenses are denominated in foreign currencies and exchange volatility could positively or negatively impact those operating costs. Increases in the value of the U.S. dollar relative to other currencies could make our products more expensive, which could negatively impact our ability to compete.”

Annual report 2026A · The company itself

“Conversely, decreases in the value of the U.S. dollar relative to other currencies could result in our suppliers raising their prices to continue doing business with us.”

Annual report 2026A · The company itself

“Unfavorable currency exchange rates, particularly the euro, the Chinese renminbi, the Canadian dollar, the British pound sterling and the Mexican peso, have in the past adversely impacted us, and could adversely impact us in the future.”

Annual report 2025A · The company itself

“Primary exposures include the U.S. dollar versus the Euro, British pound sterling, Chinese renminbi, Canadian dollar, Australian dollar, Polish zloty, Singapore dollar, Swiss franc, and Mexican peso, as well as the Euro versus the British pound sterling and Australian dollar, and Polish zloty.”

Annual report 2025A · The company itself

“While changes in foreign currency exchange rates affect reported results, McDonald's mitigates exposures, where practical, by purchasing goods and services in local currencies, financing in local currencies and hedging certain foreign-denominated cash flows.”

Annual report 2025A · The company itself

“Current year and prior year charges and gains are detailed along with reconciliations to the non-GAAP measures in the Net Income and Diluted Earnings Per Share section on page 13 and Operating Income section on page 18 in this Form 10-K.”

Annual report 2025A · The company itself

“Our results of operations are also affected by fluctuations in currency exchange rates, and unfavorable currency fluctuations could adversely affect reported earnings.”

Annual report 2025A · The company itself

“Förändring, % Påverkan, MSEK 1) Försäljningsvolym +1 78 (73) Förändring av valutakurs NOK +10 70 (55) EUR +10 -280 (-256) DKK +10 31 (22) USD +10 -26 (-25) Bruttomarginal +1 180 (168) Personalkostnader +1 -40 (-37) Ränta 2) +1 -15 (-15) 1) Allt annat lika, resultat före skatt för räkenskapsåret 2024.”

Annual report 2024A · The company itself

“Transaktionerna är primärt gjorda i valutorna SEK, EUR och USD .”

Annual report 2024A · The company itself

“Valutarisk Valutarisken är risken för att fluktuationer i valutakurser får effekt på resultaträkningen, finansiell ställning och/eller kassaflödet. Risken kan delas in i transaktionsexponering och omräkningsexponering.”

Annual report 2024A · The company itself

“For the year ended December 31, 2025, approximately 27% of our revenue was denominated in foreign currencies, although our revenue generating activities and operations continued to be primarily denominated in U.S. dollars. Our foreign currency revenue exposure in 2025 was primarily associated with the Canadian dollar, Euro, Korean won, and Mexican peso markets.”

Annual report 2025A · The company itself

“Because our worldwide sales are primarily billed and payable in U.S. dollars, the reporting of our sales is not subject to fluctuating currency exchange rates.”

Annual report 2025A · The company itself

“However, because a majority of our revenue is attributable to sales to customers in Asia, increases in the relative value of the dollar may create pricing pressures for our products.”

Annual report 2025A · The company itself

“There are risks inherent in doing business in Asia, and internationally in general, including: • changes in, or impositions of, legislative or regulatory requirements or restrictions, including tax and trade laws in the U.S., and in the countries in which we manufacture or sell our products, and governmental action or restrict our ability to sell to foreign customers where sales of products may require export licenses; • trade restrictions imposed by the U.S. related to goods imported from regions in China with records of forced labor and other human rights issues; • changes in U.S. laws, or the interpretation and enforcement of these laws, regarding investment in China or other countries; • fluctuations in the value of the U.S.”

Annual report 2025A · The company itself

“Adverse macroeconomic conditions, including inflation, slowing growth, recession, stagflation, new or increased tariffs and other barriers to trade, tighter credit, higher interest rates, currency fluctuations, higher unemployment, labor shortages, lower capital expenditures by businesses, and lower consumer confidence and spending, have in the past, and could in the future, have a material adverse effect on logistics, demand for our products, and our product and operational costs.”

Annual report 2025A · The company itself

“Fluctuations in the value of the U.S. Dollar relative to other currencies, including the Renminbi, may adversely affect our results of operations.”

Annual report 2025A · The company itself

“If the value of the U.S. Dollar rises against other currencies, it may adversely affect the demand for our products in international markets, which could negatively and materially impact our business and results of operations.”

Annual report 2025A · The company itself

“If the value of the Renminbi rises against the U.S. Dollar, there could be an increase in our manufacturing costs relative to competitors who have manufacturing facilities located outside China, which could adversely affect our financial results and operations.”

Annual report 2025A · The company itself

“Global economic and political conditions continue to be challenging for many of our government and enterprise markets, as economic growth in many countries has remained low or declined, currency fluctuations have impacted profitability, credit markets have remained tight for certain counterparties of ours and some of our customers are dependent on government grants to fund purchases of our products and services.”

Annual report 2025A · The company itself

“The Group’s predominant currency is EUR, which accounts for more than 50% of net cash flow. Since the establishment of the Group in 2006, Mowi has managed its cash flow in EUR and has used EUR as its main financing currency.”

Annual report 2024A · The company itself

“Gällande fluktuationer i valutakurser så har bolaget tillverkning och åtaganden främst i brittiska pund och försäljning främst i amerikanska dollar. Nanologica har för närvarande inte säkrat några valutakurser.”

Annual report 2024A · The company itself

“IFRS 16, % Största marknader SAMT SVERIGE 2024, Mkr Extern försäljning Medelantal anställda Resultat per aktie, Kr Risker och riskhantering Risker som väsentligt kan påverka koncernen Nederman är exponerat för ett antal risker som kan påverka koncernens verksamhet, resultat och finansiella ställning.”

Annual report 2024A · The company itself

“Det största försörjningsbola-get ligger i Sverige och där sker 61 procent av inköpen i SEK.”

Annual report 2024A · The company itself

“Konjunkturen och konsumenternas köpkraft påverkas av faktorer utanför koncernens kontroll, bland annat räntenivåer, valutakurser, inflationsnivå, skatter, arbetslöshetsnivå och andra ekonomiska faktorer.”

Annual report 2024A · The company itself

“De viktigaste inköpsvalutorna är svenska kronor, amerikanska dollar, euro och brittiska pund.”

Annual report 2024A · The company itself

“From 2026, NNIT will update its revenue performance measure from organic growth to constant currency revenue growth”

Annual report 2025A · The company itself

“Valuuttakurssimuutoksilla oli noin 4 %:n negatiivinen vaikutus liikevaihtoon. Liikevaihto laski Amerikan alueella ja APAC-alueella. Myynti APAC-alueella laski Kiinan alueella, mitä osittain tasapainotti kasvu muualla APAC-alueella.”

Annual report 2025A · The company itself

“Risken att förändringen mellan olika valutor får väsentlig negativ påverkan på Nolatos utveckling och resultat. Risken består av transaktionsexponering, som härrör från inköp och försäljning i olika valutor, och omräkningsexponering, som härrör från omräkningen av de utländska dotterbolagens tillgångar, skulder och resultat till svenska kronor.”

Annual report 2024A · The company itself

“Currency risk NORBIT has international operations and clients and is exposed to currency risk through customer contracts and purchase of products and services in currencies other than the functional currency (NOK). NORBIT is primarily exposed to EUR and USD currencies.”

Annual report 2024A · The company itself

“Euron stärktes med 13 procent mot dollarn.”

Annual report 2025A · The company itself

“The group’s revenues and costs are partly hedged operationally from a currency point of view; providing some risk reduction but significant movements, particularly of NOK vs GBP, USD an EUR, pose a financial risk for the group.”

Annual report 2024A · The company itself

“Norske Skog has loans predominantly denominated in EUR, matching cash flows from the EUR based European market.”

Annual report 2024A · The company itself

“Changes in a number of particular market conditions, including in foreign currency exchange rates, cross-border investing activity and the demand for borrowing or lending securities, could affect our earnings negatively. We provide foreign exchange services to our clients, primarily in connection with our Asset Servicing business. Foreign currency volatility influences our foreign exchange trading income as does the level of client activity.”

Annual report 2025A · The company itself

“We also are exposed to non-trading foreign currency risk as a result of our holdings of non-U.S. dollar denominated assets and liabilities, investments in non-U.S. subsidiaries, and future non-U.S. dollar denominated revenue and expense.”

Annual report 2025A · The company itself

“Payment terms granted by suppliers are generally customary terms for the cruise industry.”

Annual report 2025A · The company itself

“Sustained geopolitical tensions, such as the current geopolitical tensions involving China and Taiwan, could lead to long-term changes in global trade and technology supply chains and decoupling of global trade networks; •volatility in foreign currency exchange rates, in particular with respect to the U.S. dollar, and transfer restrictions, in particular in mainland China; and •threats that our operations or property could be subject to nationalization and expropriation.”

Annual report 2025A · The company itself

“Optomed toimii kansainvälisesti ja on siten alttiina valuuttakurssiriskeille Keskeisimmät valuutat, joihin liittyville valuuttakurssiriskeille yhtiö eniten altistuu, ovat Kiinan renminbi ja Yhdysvaltain dollari.”

Annual report 2025A · The company itself

“Changes in the values of major foreign currencies, particularly the Australian Dollar, British Pound, Brazilian Real, Canadian Dollar, Euro, Indian Rupee, Japanese Yen and Saudi Riyal, relative to the U.S. Dollar can significantly affect our total assets, revenues, operating results and cash flows, which are reported in U.S.”

Annual report 2026A · The company itself

“Our principal currency exposures include the Australian Dollar, Brazilian Real, British Pound, Euro, Indian Rupee, Japanese Yen and Saudi Riyal.”

Annual report 2026A · The company itself

“Sensitivity Analysis The following table sets forth the hypothetical potential losses that we consider to be the most material to the reported fair values and/or future earnings of our foreign currency influenced holdings, prior to any income tax effects, resulting from hypothetical changes in relevant market rates as of or for the reporting periods below: Year Ended May 31, (in millions) Hypothetical Change Impact 2026 2025 Foreign currency risk: Total revenues 10% decrease in foreign currency exchange rates Earnings $ (2,767 ) $ (2,379 ) Cash, cash equivalents and trade receivables, net 10% decrease in foreign currency exchange rates Fair values $ (2,384 ) $ (1,788 ) Item 8.”

Annual report 2026A · The company itself

“In addition, currency fluctuations may affect the prices we pay for the materials used in our products.”

Annual report 2025A · The company itself

“When the U.S. dollar strengthens compared to other currencies, it generally increases the real cost of our platforms to our customers outside of the United States, which could reduce demand for our platforms and adversely affect our financial condition and results of operations.”

Annual report 2025A · The company itself

“Additional headwinds from US import tariffs and foreign exchange rates added complexity, but we responded with targeted mitigation measures.”

Annual report 2025A · The company itself

“Other political and economic risks include global health crises; financial market turmoil; economic volatility and global economic slowdown; currency exchange rate fluctuations; short-term and long-term inflationary pressures; rising or prolonged periods of high interest rates; import or export restrictions and changes in trade regulations; supply chain disruptions; civil unrest and other political risks; limitations in the availability of labor to develop, staff and manage operations; and potentially adverse tax developments.”

Annual report 2025A · The company itself

“QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Financial Instrument Market Risk We and certain of our subsidiaries are exposed to market risks produced by changes in the prices of crude oil, refined petroleum products, NGL, natural gas, renewable feedstocks and renewable fuels, and electric power, as well as fluctuations in interest rates and foreign currency exchange rates.”

Annual report 2025A · The company itself

“Den mest betydande valutaexponeringen avser relationen EUR/USD. Koncernen använder sig av valutaderivat i syfte att reducera resultat- och kassaflödeseffekter hänförliga till kraftiga fluktuationer hos vissa valutapar, däribland EUR/USD.”

Annual report 2024A · The company itself

“Hovedparten af koncernens aktiver og passiver er i EUR, hvilket giver en naturlig afdækning. DKK er bundet til EUR gennem fastkurspolitikken.”

Annual report 2025A · The company itself

“Our primary market risk exposures are to interest rates, equity markets and foreign currency exchange rates.”

Annual report 2025A · The company itself

“Amerikanska dollarns variationer påverkar ProfilGruppens prissättning mot kund eftersom aluminiumråvaran prissätts i amerikanska dollar.”

Annual report 2024A · The company itself

“För finansiering av maskininvesteringar till vår senaste presslinje har vi ett banklån om 7,1 miljoner euro. Lånet innebär en valutaexponering, vilken fått en resultateffekt under 2024 om -3,3 Mkr (-0,2) som till största delen är en orealiserad kurseffekt.”

Annual report 2024A · The company itself

“Table of Contents Our Global Presence At December 31, 2025, we owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.3 billion square feet across the following geographies: Throughout this discussion, amounts are presented in U.S. dollars, our reporting currency. Included in these amounts are consolidated and unconsolidated investments denominated in foreign currencies, principally the British pound sterling, Canadian dollar, euro and Japanese yen that are impacted by fluctuations in exchange rates when translated to U.S. dollars.”

Annual report 2025A · The company itself

“The depreciation in the value of the foreign currency in countries where we have a significant investment may adversely affect our results of operations and financial position.”

Annual report 2025A · The company itself

“Merkittävimmät valuuttakurssiriskit aiheutuvat seuraavista valuutoista: Kanadan dollari (CAD) ja Yhdysvaltain dollari (USD).”

Annual report 2025A · The company itself

“Much of our DAUq growth to date has come from certain users who may represent lower monetization opportunities, such as users located outside the United States.”

Annual report 2025A · The company itself

“Mahdolliset merkittävät vaihtelut valuuttojen arvoissa, erityisesti Yhdysvaltain dollarin (USD) vaihtokurssissa, voivat vaikuttaa Remedyn kannattavuuteen.”

Annual report 2025A · The company itself

“Changes in the USD/EUR exchange rate had a negative impact on net sales and profit in 2025.”

Annual report 2025A · The company itself

“Almost all business is conducted using DKK, SEK or EUR.”

Annual report 2025A · The company itself

“Det egna kapitalet per aktie uppgick till 11,08 (12,18) SEK.”

Annual report 2024A · The company itself

“Elprisrisk All extern el till bruken köps direkt över elbörsen Nord Pool. Elpriserna noteras i EUR. För att skydda Rottneros framtida elkostnad mot kraftiga fluktuationer och uppnå ett förutsägbart elpris ska framtida elpriser säkras i förväg i svenska kronor enligt en fastställd strategi.”

Annual report 2024A · The company itself

“DKK, EUR och USD, och i mindre utsträckning SEK medan Bolagets inflöden från den operativa verksamheten huvudsakligen utgörs av EUR, USD och DKK. Kassaflöden i samband med köp och försäljning av varor och tjänster i olika valutor ger upphov till en så kallad transaktionsexponering.”

Annual report 2024A · The company itself

“Bolaget säkrar inte denna exponering varför det finns en risk att valutakursförändringar skulle kunna påverka Bolagets räkenskaper, exempelvis genom ökade kostnader för Koncernen, vilket i sin tur skulle kunna ha en negativ inverkan på Bolagets kassaflöde, resultaträkning och balansräkning.”

Annual report 2024A · The company itself

“Vidare utgör tillgångarna i Saniona A/S en betydande del av Bolagets totala tillgångar, och Bolaget är därför föremål för balansexponering på grund av omräkningen från DKK till SEK.”

Annual report 2024A · The company itself

“In addition, the weakening of the euro against main currencies, including the US dollar, may increase the cost of the goods and services Sanoma buys in currencies other than euro (e.g., hosting and TV content) and poses a risk to Sanoma’s financial performance, albeit part of the currency transaction risk is hedged with forward contracts.”

Annual report 2025A · The company itself

“Currency fluctuations may negatively affect our results of operations. In Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, and Panama, substantially all of our revenue, expenses, and capital expenditures arising from our activities are denominated in U.S. dollars. Specifically, most of our ground leases and other property interests, tenant leases, and tower-related expenses are paid in U.S. dollars.”

Annual report 2025A · The company itself

“The macroeconomic landscape in 2024 has seen inflationary pressures being under control, interest rates being stabilized, while high volatility in key currencies towards Norwegian kroner (NOK) has remained, all of which had implications for Scana companies.”

Annual report 2024A · The company itself

“Scana Group’s exposure to the risk of changes in foreign exchange rates relates primarily to Scana Group’s operating activities (when revenue or expense is denominated in a foreign currency) and the Group’s net investments in foreign subsidiaries.”

Annual report 2024A · The company itself

“Valutarisk Vissa dotterbolag inom koncernen gör inköp i annan valuta än SEK och ett fåtal dotterbolag har försäljning i annan valuta än SEK. Koncernens enskilt största valutaexponering utgörs av USD. Valutaexponeringen är knuten till inköp av varor och produkter som köps från Asien av Seafires dotterbolag.”

Annual report 2024A · The company itself

“Prices for our products are denominated predominantly in dollars, even when sold to customers located outside the United States. An increase in the value of the dollar could increase the real cost to our customers in those markets outside of the United States. This could adversely impact our sales and market share in such areas or increase pressure to lower our prices, and adversely impact our profit margins.”

Annual report 2026A · The company itself

“Den svenska kronans växelkurs var oförändrad gentemot USA-dollarn, vilket hade en neutral påverkan på rörelseresultatet i svenska kronor.”

Annual report 2024A · The company itself

“Den svenska kronans växelkurs stärktes, främst gentemot den turkiska liran vilket hade en negativ påverkan på rörelseresultatet i svenska kronor.”

Annual report 2024A · The company itself

“Den svenska kronans växelkurs stärktes mot de flesta valutorna inom segmentet vilket hade en negativ påverkan på resultatet i svenska kronor.”

Annual report 2024A · The company itself

“Koncernens resultaträkning påverkas av att utländska dotterbolags resultaträkningar omräknas till SEK.”

Annual report 2024A · The company itself

“Our primary exchange rate exposure is with the euro, the Brazilian real, the Canadian dollar, the Mexican peso, the British pound, the Chinese yuan, the Chilean peso and the Argentine peso, each against the U.S. dollar. While we actively manage the exposure of our foreign currency risk as part of our overall financial risk management policy, we have in the past and may in the future experience losses from foreign currency exchange rate fluctuations and currency controls and restrictions, and such losses could adversely affect our sales, earnings, cash flow, liquidity or financial condition.”

Annual report 2025A · The company itself

“Such international activities carry risks that are different from, or may be of a different magnitude than, those we face with our domestic properties and operations. These risks include, but are not limited to: ● adverse effects of changes in exchange rates for foreign currencies; ● changes in foreign political and economic environments, regionally, nationally, and locally; ● impact from threatened or implemented tariffs and international trade disputes and the associated impact on our tenants’ supply chain and consumer spending levels; ● challenges of complying with a wide variety of foreign laws, including corporate governance, operations, taxes and litigation, may lead to operating inefficiencies or increased costs; ● the risk that we, our employees and/or agents could violate anti-bribery, anti-corruption and international trade laws in the U.S., such as the U.S.”

Annual report unknown yearA · The company itself

“Valutapåverkan på koncernens nettoomsättning var negativ med 1 procent.”

Annual report 2024A · The company itself

“Tradingverksamheten bedrivs av divisionen Stora Företag & Finansiella Institutioner där SEB är marknadsgarant (market maker) på de internationella valuta-, aktie- och obligationsmarknaderna.”

Annual report 2024A · The company itself

“Foreign Exchange Rate Risk Substantially all sales to customers and arrangements with third-party manufacturers provide for pricing and payment in United States dollars, thereby reducing the impact of foreign exchange rate fluctuations on our results. A percentage of our international operational expenses are denominated in foreign currencies, and exchange rate volatility could positively or negatively impact those operating costs.”

Annual report 2025A · The company itself

“Increases in the value of the United States dollar relative to other currencies could make our products more expensive, which could negatively impact our ability to compete.”

Annual report 2025A · The company itself

“Conversely, decreases in the value of the United States dollar relative to other currencies could result in our suppliers raising their prices to continue doing business with us.”

Annual report 2025A · The company itself

“In addition, the relative strength or weakness of the U.S. dollar is important for the industry in which we operate because U.S. containerboard and paperboard prices tend to influence the world market. A weak U.S. dollar over a sustained period has the potential to result in lower imports into the United States of goods shipped in corrugated containers and, as a result, lower demand for our containers from LATAM and Europe.”

Annual report 2025A · The company itself

“Although the Company is impacted by the exchange rates of a number of currencies, its largest net assets exposures for the year ended December 31, 2025 and 2024 included the euro, the Mexican peso, the Canadian dollar, the Brazilian real, the pound sterling, and the Colombian peso.”

Annual report 2025A · The company itself

“Quantitative and Qualitative Disclosures About Market Risk In the context of Item 7A, Solventum is exposed to market risk due to the risk of loss arising from adverse changes in foreign currency exchange rates, interest rates and commodity prices. Changes in those factors could impact the Company’s results of operations and financial condition.”

Annual report 2025A · The company itself

“For example, fuel prices can be impacted by geopolitical, environmental (including those related to climate change), and economic factors, such as (i) dependency on foreign imports of crude oil and potential or actual hostilities or other conflicts in oil producing areas or along global trade routes; (ii) limitations and/or disruptions in domestic refining or pipeline operations or capacity due to weather, natural disasters, or other factors; (iii) worldwide demand for fuel, particularly in developing countries, which can result in inflated energy prices; (iv) changes in U.S. governmental policies on fuel production, transportation, taxes, and marketing; (v) imposition of economic sanctions on oil-producing countries or specific industry participants; and (vi) changes in currency exchange rates.”

Annual report 2025A · The company itself

“USAs andel av verdensindeksen, MCCI World har steget til rundt 70%. I 2024 steg denne verdensindeksen med 21% i lokal valuta, og siden den norske kronen svekket seg gjennom 2024 så ble avkastningen medregnet kronesvekkelsen på hele 24%.”

Annual report 2024A · The company itself

“Bankens meglerbord bidrar til at både import og eksportbedrifter får dekket sine behov for utenlandsk valuta. De bistår også kundene med å avdekke en vesentlig del av deres valuta og renterisiko.”

Annual report 2024A · The company itself

“Markedsrisiko er risikoen for tap som skyldes endringer i observerbare markedsvariabler som renter, valutakurser og aksjer/egenkapitalbevis.”

Annual report 2024A · The company itself

“The effect on our NII has been exacerbated by the effects in recent fiscal years of the strong U.S. dollar relative to other currencies, particularly the Euro. If European interest rates remain low or decrease and the U.S. dollar strengthens relative to the Euro, the negative effects on our NII likely will continue or increase.”

Annual report 2025A · The company itself

“Market Risk Management Market risk is the risk of loss that could result from broad market movements, such as changes in the general level of interest rates, credit spreads, foreign exchange rates or commodity prices. We are exposed to market risk in both our trading and certain of our non-trading, or asset and liability management, activities.”

Annual report 2025A · The company itself

“With the growth of cross-border investing, our clients often enter into foreign exchange forward contracts to convert currency for international investments and to manage the currency risk in their international investment portfolios. As an active participant in the foreign exchange markets, we provide foreign exchange forward and option contracts in support of these client needs, and act as a dealer in the currency markets.”

Annual report 2025A · The company itself

“Fluctuations in the value of the dollar can also affect imports, as a strong United States dollar makes imported products less expensive, potentially resulting in more imports of steel and steel products into the United States by our foreign competitors.”

Annual report 2025A · The company itself

“Lasku johtui pääasiassa merkittävästi heikomman Yhdysvaltain dollarin kurssikehityksestä.”

Annual report 2025A · The company itself

“Valuuttojen transaktioriski johtuu Stora Enson tuotantolaitosten maantieteellisestä sijainnista ympäri maailmaa sekä raaka-ainehankinnoista ja lopputuotteiden myynnistä vieraassa valuutassa tuotantolaitosten kotivaluuttaan nähden. Tärkeimmät valuutat näissä tapauksissa ovat Yhdysvaltain dollari, Ison-Britannian punta sekä Ruotsin kruunu.”

Annual report 2025A · The company itself

“Valuutan transaktioriski on valuuttakurssivaihteluiden vaikutus konsernin tuloslaskelmaan eli valuuttakurssien vaikutus konsernin odotettuihin tuleviin rahavirtoihin sekä näiden pohjalta myöhemmin kirjattaviin myyntisaamisiin ja ostovelkoihin. Konsernin rahoitusriskipolitiikan mukaisesti konsernin tavoitteena on suojata 15–60 % tärkeimpien valuuttojen valuuttamääräisistä ennustetuista todennäköisistä rahavirroista seuraavaksi 12 kuukaudeksi eteenpäin johdannaisinstrumenttien, kuten valuuttatermiinien ja valuuttaoptioiden, avulla.”

Annual report 2025A · The company itself

“Innen skadeforsikring bidro høy skadeinflasjon forsterket av en svak norsk valuta til de økte utbetalingene.”

Annual report 2024A · The company itself

“Valutabevegelser mellom norsk og svensk krone påvirker rapportert balanse og resultat i SPP på et konsolidert nivå, og valutabevegelser mellom norsk krone og internasjonale valutaer påvirker forvaltningskapitalen.”

Annual report 2024A · The company itself

“Affärsområdet var fortsatt påverkat av negativ valutautveckling då majoriteten av försäljningen sker i svenska och norska kronor samt i brittiska pund, medan inköp sker i dollar och euro.”

Annual report 2024A · The company itself

“Selskabets risikorammer er:  Selskabets maximale gearing er 3x i aktiebaserede finansielle kontrakter  Selskabets maximale gearing er 5x i valuta- og rentebaserede produkter  Summen af investeringer i 10%-poster skal i gennemsnit over året som minimum udgøre 20% af selskabets balance Ved investeringer i finansielle kontrakter medregnes deltaværdien af markedseksponeringen.”

Annual report 2025A · The company itself

“The Company has currently only identified currency risks as relevant for the Company due to the limited ongoing business operations of Strategic Partners A/S. Financial risks may arise from changes in exchange rates and changes in stock prices. The Company are mostly exposed to foreign exchange movements relating to USD and EUR.”

Annual report 2025A · The company itself

“We have continued to experience, and may in the future experience, inflationary increases in manufacturing costs and operating expenses, as well as negative impacts from weakening or strengthening exchange rates against the United States Dollar.”

Annual report 2025A · The company itself

“Our operating results are primarily exposed to changes in exchange rates among the United States Dollar, Australian Dollar, British Pound, Canadian Dollar, Euro and Japanese Yen.”

Annual report 2025A · The company itself

“I Handelsbankens verksamhet uppstår marknadsrisker i bankboken primärt till följd av ränte- och valutapositioner, som uppstår i bankens in- och utlåningsverksamhet.”

Annual report 2024A · The company itself

“Då banken har utlåning i flera olika valutor, uppkommer en valutaexponering av strukturell natur då koncernens räkenskaper är uttryckta i svenska kronor.”

Annual report 2024A · The company itself

“A weakening U.S. dollar relative to other currencies increases expenses of our foreign subsidiaries when they are translated into U.S. dollars in our consolidated statements of income. Likewise, a strengthening U.S. dollar relative to other currencies, including the renminbi or Yen, reduces revenue of our foreign subsidiaries upon translation and consolidation.”

Annual report 2025A · The company itself

“Synsam gör inköp från Asien, vilket exponerar koncernen mot USD.”

Annual report 2024A · The company itself

“Our largest currency exposures are with Canadian dollars, British pound sterling and Euro currencies.”

Annual report 2026A · The company itself

“CURRENCY TRANSLATION RISK. Certain of our investments, including a few consolidated investment products, expose us to currency translation risk when the financial statements are translated into U.S. dollars (USD). Our most significant exposure relates to the translation of the financial statements of our equity method investment in UTI ($162.8 million at December 31, 2025). UTI's financial statements are denominated in Indian rupees (INR) and are translated to USD each reporting period.”

Annual report 2025A · The company itself

“Many of our international sales are made in local currencies, which could fluctuate against the dollar. While we may use forward exchange contracts to a limited extent to seek to mitigate foreign currency risk, our operating results could be adversely affected by unfavorable foreign currency fluctuations.”

Annual report 2026A · The company itself

“Currency risks Transaction exposure occurs when sales and costs are in different currencies. Exchange rate fluctuations may have an impact on the Group’s earnings and valuation of assets.”

Annual report 2025A · The company itself

“RAHOITUSRISKIT Yhtiön laajentuessa uusille markkina-alueille valuuttakurssiriski voi kasvaa, erityisesti Yhdysvaltain dollarin osalta. Riskiä tasapainottavat osittain dollari- ja renminbi-määräiset raaka-aine- ja komponenttiostot sekä tuotannon maantieteellinen hajauttaminen.”

Annual report 2025A · The company itself

“Merkittävimmät altistukset liittyvät Yhdysvaltain dollariin ja Kiinan renminbiin suhteessa euroon.”

Annual report 2025A · The company itself

“Pääosa konsernin liikevaihdosta on Euro-määräistä, USD:n osuus on noin 19%, Englannin punnan osuus on noin 6%, PLN:n osuus noin 8%, Ruotsin ja Norjan kruunujen osuus liikevaihdosta on yhteensä noin 3%.”

Annual report 2025A · The company itself

“A significant portion of our consolidated revenues is derived from customers outside the United States. Our international sales and operations are subject to significant risks and difficulties, including: • unexpected changes in legal and regulatory requirements affecting international markets; • cost increases due to inflation; • expense and complexity of complying with U.S. and foreign import and export regulations; • changes in tariffs and foreign currency exchange rates; • social, political and economic instability, acts of terrorism and international conflicts; • restrictions on the transfer of funds; • disruption caused by health pandemics; • difficulties in protecting intellectual property; • difficulties in accounts receivable collection; • cultural differences in the conduct of business; • difficulties in staffing and managing international operations; • compliance with anti-corruption laws, cybersecurity, data privacy regulations, customs and trade regulations; • compliance with international tax laws and regulations.”

Annual report 2025A · The company itself

“In addition, our global operations expose us to periods when the U.S. dollar significantly fluctuates in relation to the non-U.S. currencies in which we transact business. The remeasurement of non-U.S. dollar transactions can have an adverse effect on our results of operations and financial condition.”

Annual report 2025A · The company itself

“TGS is exposed to financial risks such as currency, liquidity and credit risk. The exposure to currency risk is low as most of revenues, costs and capital expenditure are in USD. However, some monetary assets and liabilities are denominated in other currencies, mainly NOK, GBP and BRL.”

Annual report 2024A · The company itself

“In 2025, currency translation had a favorable effect of $0.37 billion on revenues due to the weakening of the U.S. dollar relative to other currencies in which the company sells products and services.”

Annual report 2025A · The company itself

“For example, a significant amount of merchandise we offer for sale is made in China and accordingly, a revaluation of Chinese currency, or increased market flexibility in the exchange rate for that currency, increasing its value relative to the U.S. dollar or currencies in which our stores are located, could be significant.”

Annual report 2026A · The company itself

“Nettoomsättning och affärsverksamhet på flera marknader utanför Sverige utsätter koncernen för potentiella negativa effekter av valutafluktuationer.”

Annual report 2024A · The company itself

“Decreased strength of the U.S. dollar could also adversely affect the cost of raw materials, products, or services that we purchase from non-U.S. suppliers.”

Annual report 2025A · The company itself

“Our largest concentration of revenues from non-U.S. operations as of December 31, 2025 are in Euros and Chinese Yuan. A hypothetical 10% unfavorable change in the average exchange rate used to translate Net revenues for the year ended December 31, 2025 from either Euros or Chinese Yuan-based operations into U.S. dollars would result in a decline of approximately $180 million and $50 million, respectively.”

Annual report 2025A · The company itself

“We are subject to various risks and uncertainties relating to international sales and operations, including: closing of borders by foreign countries to the import of beef, pork and poultry products due to animal disease or other perceived health or safety issues; the impact of currency exchange rate fluctuations between the United States dollar and foreign currencies, particularly the Brazilian real, the British pound sterling, the Canadian dollar, the Chinese renminbi, the European euro, the Malaysian ringgit, the Mexican peso and the Thai baht; political and economic conditions, including ongoing conflicts and political tensions; and difficulties and costs of complying with different legal, tax and regulatory requirements impacting exports and other international activities.”

Annual report 2025A · The company itself

“The Group makes use of financial derivatives to mitigate its currency exposure.”

Annual report 2024A · The company itself

“Sales and purchases in currencies other than the U.S. dollar expose us to fluctuations in foreign currencies relative to the U.S. dollar, which have in the past and may in the future adversely affect our financial statements. Increased strength of the U.S. dollar increases the effective price of our products sold in U.S. dollars into other countries, which can adversely affect sales or require us to lower our prices.”

Annual report 2025A · The company itself

“A decline in the strength of the U.S. dollar adversely affects the cost of materials, products and services we purchase overseas.”

Annual report 2025A · The company itself

“Table of Contents Financial and Economic Risks Related to Our Business General economic, political and market forces and dislocations beyond our control could reduce demand for our solutions and harm our business. The demand for our solutions may be impacted by domestic and international factors that are beyond our control, including macroeconomic, political and market conditions, global supply chain disruption, the availability of short-term and long-term funding and capital, the level and volatility of interest rates, currency exchange rates, and inflation.”

Annual report 2025A · The company itself

“Quantitative and Qualitative Disclosures About Market Risk We are exposed to various types of market risk in the normal course of business, including the impact of interest rate changes, foreign currency exchange rate fluctuations, changes in investment, equity and commodity prices and changes in corporate tax rates.”

Annual report 2025A · The company itself

“Revenue in 2025 reflected a negative impact of EUR 554m from foreign exchange rates compared to 2024”

Annual report 2025A · The company itself

“Revenue in 2025 reflected a negative impact of EUR 554m from foreign exchange rates compared to 2024 and ended in the lower end of the guided range between EUR 18.5bn and 19.5bn.”

Annual report 2025A · The company itself

“Den svaga svenska kronan har fortsatt belasta den svenska marknadens köpkraft.”

Annual report 2024A · The company itself

“The group's largest foreign exchange exposure is EUR against USD, but the group also has exposure to a number of other currencies whereof KRW, JPY, SEK, CNY and NOK are the most important.”

Annual report 2024A · The company itself

“If the U.S. dollar exhibits sustained weakness against most foreign currencies, the U.S. dollar equivalents of unhedged manufacturing costs could increase because a portion of our production costs are foreign-currency denominated. Conversely, there would not be an offsetting impact to revenues since revenues are substantially U.S. dollar denominated.”

Annual report 2026A · The company itself

“Prices for our products are substantially U.S. dollar denominated, even when sold to customers that are located outside the U.S. Therefore, as a substantial portion of our sales are from countries outside the U.S., fluctuations in currency exchange rates, such as the strengthening of the U.S. dollar against other foreign currencies, could increase the cost of our products in those countries and negatively impact demand and revenue growth.”

Annual report 2026A · The company itself

“Additionally, we negotiate and procure some of our component requirements in U.S. dollars from non-U.S. based vendors. If the U.S. dollar weakens against other foreign currencies, some of our component suppliers may increase the price they charge for their components in order to maintain an equivalent profit margin.”

Annual report 2026A · The company itself

“Much of our inventory is sourced from suppliers located outside of the U.S., resulting in ordering merchandise, and contracting for the purchase and manufacturing of such merchandise, up to twelve months and generally multiple seasons in advance of the applicable selling season. The extended lead times for many of our purchases may make it difficult for us to respond rapidly to new or changing trends.”

Annual report 2026A · The company itself

“Koncernen är framför allt exponerad för förändringar i EUR och USD.”

Annual report 2024A · The company itself

“Valutarisk Xbrane utsätts för en valutakursrisk då en stor del av kostnaderna är i andra valutor än svenska kronor, främst EURO, CHF och USD. Även framtida intäkter kommer huvudsakligen att vara i andra valutor.”

Annual report 2024A · The company itself

“In markets outside the US, local prices typically adjust to fluctuations in the US dollar exchange rate, albeit with some delay. Significant and unexpected movements in non-USD currencies could negatively impact Yara’s financial results.”

Annual report 2024A · The company itself

“This is partly offset by exchange rate adjustments of DKK -295 million, which primarily relate to USD deposits and currency revaluations”

Annual report 2025A · The company itself

“These factors include, but are not limited to, changes in temperature, wind conditions, wake and blockage effects, precipitation levels, the development in power, coal, carbon, gas, oil, currency, inflation rates, and interest rate markets, the ability to uphold hedge accounting, changes in legislation, regulations, or standards, the renegotiation of contracts, changes in the competitive environment in our markets, reliability of supply, and market volatility and disruptions from geopolitical tensions.”

Annual report 2025A · The company itself

“Valutakurseffekter på transaktioner till den operativa verksamheten redovisas i bruttoresultatet medan valutakurseffekter på den finansiella verksamheten redovisas i finansnettot.”

Annual report 2024A · The company itself

“Market risks, foreign exchange fluctuations, interest rate changes, and credit risks may impact financial stability.”

Annual report 2025A · The company itself

“Foreign Currency Risk We transact business in foreign currencies other than the US dollar, primarily the British pound and the Canadian dollar, which exposes us to foreign currency exchange rate fluctuations. Revenue and expenses generated from our international operations are generally denominated in the local currencies of the corresponding countries.”

Annual report 2025A · The company itself

“Our most significant currency exposures are the British pound, Euro and Japanese yen.”

Annual report 2025A · The company itself

“Currency fluctuations Currency transaction exposure occurs to some extent during the ordinary course of business and when the relevant exchange rates change between the date of a transaction and the date of the final payment for the transaction. The Group records such gains or losses in the financial income and expenses line item of its consolidated income statement.”

Annual report 2024A · The company itself

“Fluctuating foreign currency exchange rates could impact our financial results. Until the sale of our United Kingdom operations on December 1, 2025, which in 2025 accounted for approximately 3% of our revenues, our reported financial position and results of operations were exposed to the effects (both positive and negative) that fluctuating exchange rates had on the process of translating the financial statements of our United Kingdom operations, which were denominated in the British pound, into the U.S. dollar.”

Annual report 2025A · The company itself

“I år har finansnettot påverkats av den svaga kronan vilket lett till positiva valutaeffekter.”

Annual report 2024A · The company itself

“The only foreign currency exchange rate risks to which we are exposed are the Canadian dollar and Mexican peso. The result of a hypothetical 10% adverse movement in the value of the dollar relative to the currencies in which our transactions are denominated would not be material to our financial position, results of operations, or cash flows, in all periods presented.”

Annual report 2026A · The company itself

“De första leveranserna påbörjades augusti 2024, och vid full volym beräknas produktionen generera en årlig omsättning på över 10 miljoner euro.”

Annual report 2024A · The company itself

“For the full year 2024, Hexagon Agility reported revenues of NOK 4 716 (4 321) million, including favorable FX effects of approximately NOK 78 million.”

Annual report 2024A · The company itself

“Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2025 USD NOK GBP SEK CAD AUD PLN 117.8 63.2 88.2 113.5 5.7 -23.6 40.2 -144.0 -77.2 -107.8 -138.7 -7.0 28.8 -49.1 Sensitivity analysis, impact on pre-tax profit/loss as at 31 Dec 2024 USD NOK GBP SEK CAD AUD PLN 190.6 -19.8 24.1 61.1 49.2 -16.7 22.9 -233.0 24.3 -29.4 -74.7 -60.1 20.4 -28.0 Kempower is MORE Sustainability statement statement Financial statements Remuneration report ≡ 4.3 FINANCIAL ASSETS AND LIABILITIES The Company has classified the hierarchies of financial assets according to the availability of data on market terms and other price data.”

Annual report 2025A · The company itself

“Finansiella risker är relaterade till exponering mot fastighetsvärdering, ränta, likviditet och krediter samt övriga finansiella risker Risker relaterade till valutakurs Med valutarisk avses risken att valutakursförändringar har en negativ effekt på bolagets finansiella ställning, lönsamhet eller kassaflöde. Exponering för valutakursrisk förekommer vid köp av produkter eller tjänster i annan valuta än SEK, som är bolagets redovisningsvaluta.”

Annual report 2024A · The company itself

“Our Specialties business faces currency risks from its overseas activities. Our Specialties business sells some of its products outside the United States. Therefore, the operations of the Specialties business are affected from time to time by the fluctuating values of the currency exchange rates of the countries in which it does business in relation to the value of the U.S.”

Annual report 2025A · The company itself

“NEXT is exposed to certain financial risks related to exchange rates and interest levels.”

Annual report 2024A · The company itself

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

Annual report 2025A · The company itself

“Andra finansiella risker Koncernen är exponerad för finansiella risker som ränterisker, likviditetsrisker, refinansieringsrisker, råvarurisker, valutarisker samt kreditrisker.”

Annual report 2024A · The company itself

“Katsauskauden lopussa konsernin myyntisaamisista noin 81 % oli euromääräisiä (79).”

Annual report 2024A · The company itself

“Yhtiön myyntisaamisista noin 81% oli euromääräisiä (79). Merkittävimmät laskutusvaluutat euron jälkeen tilikaudella olivat olivat Yhdysvaltain dollari (USD) ja Japanin jeni (JPY).”

Annual report 2024A · The company itself

“A weakening of economic conditions affecting disposable consumer income such as lower employment levels, negative consumer outlook, uncertainty, instability or changes in business or political conditions, social and political causes and movements, including government shutdowns, changes in interest rates, inflation/deflation, higher tax rates or tariffs, changes in the value of the U.S. dollar relative to other currencies, higher fuel and energy costs, higher labor and healthcare costs, and other economic matters could reduce consumer spending or cause consumers to shift their spending to competitors.”

Annual report 2025A · The company itself

“However, the management of the company does not consider the foreign exchange rate risk to be significant, as most purchases are made in euros.”

Annual report 2025A · The company itself