Risk Factors Update Summary

• Above-average inflation, interest rate hikes, and currency volatility resulted in a $60.8 million increase in interest expense to $421.4 million in 2023.
• Continued risks of recession and uncertainty in global exchange rates may further impact reported results.
• Added consideration of optimizing the portfolio, including possible sales in Europe and Latin America.
• Anticipated cash interest payment obligations increased from $404.4 million in 2022 to approximately $448 million in 2024.
• Mentioned potential dispositions of other international businesses and strategic transactions or acquisitions.
• Strategic reviews for potential dispositions of European businesses may impact stockholder value and business operations.
• Included the impact of recent dispositions, acquisitions, and agreements in the Europe - South segment.
• Increased focus on ESG considerations and changing stakeholder expectations may impose additional costs.
• Added the ability to comply with NYSE listing standards and restrictions from indebtedness agreements.
• Changes in management with David Sailer becoming CFO and Brian Coleman transitioning to a consultant.
• Noted the risks associated with third-party claims of intellectual property violations.
• Increased emphasis on responding to ESG measures and stakeholder expectations for corporate governance and sustainability.
• Highlighted the dependence on senior management and key individuals for operations.
• Expanded on stakeholders to include investors, lenders, customers, government regulators, municipalities, and activists.