Risk Factors Update Summary

• The Company divested its UK prestige watch business, impacting sales negatively in all categories.
• Increased dependency on US consumer confidence and economy, with potential adverse impact on future sales.
• Failure to comply with labor regulations could result in fines, legal actions, and harm recruitment.
• Termination of government stimulus programs affecting consumer spending, particularly in mid-tier products.
• Changes in tax laws, treaties, or regulations may result in a higher effective tax rate.
• Impact of economic conditions in Eurozone on UK economy and international segment trading.
• The Company's share price volatility may be impacted by financial conditions and market factors.
• Failure to optimize real estate footprint could adversely impact sales and earnings.
• Legal proceedings, tax matters, or investigations could reduce earnings, cash, and negatively impact debt covenants.
• Failure to manage ESG disclosures could adversely affect reputation, financial performance, and growth.