Risk Factors Update Summary

• Increased difficulty in satisfying obligations due to repayment of principal and interest payments.
• Uncertainty and potential material impact from escalating tensions and invasion of Ukraine by Russia.
• Identified material weaknesses in internal controls have been remediated as of December 31, 2023.
• Debt instruments with principal of $74 million maturing in October 2024 could harm liquidity.
• Sales in China negatively affected by price reductions, resulting in higher net sales volumes.
• Increased compliance costs and litigation risks due to evolving ESG reporting requirements and standards.
• Restated financial statements led to an overstatement of Net sales for the fiscal year by approximately $21 million.
• Recorded a pre-tax goodwill impairment charge of $291 million related to the Connected Technology Solutions reporting unit.
• Impact of exchange rate fluctuations on financial condition and liquidity due to global operations.
• Potential limitations in transferring cash balance out of Russia due to imposed control measures.
• Implemented a new global ERP system in 2023, incurring significant costs and ongoing expenses.
• Recognized indefinite-lived intangible asset impairment charges of $14 million and $2 million for specific segments.
• Ongoing SEC investigation and related litigation could distract management and impact the company's reputation.
• Devoted significant time and resources to defending against potential litigation and regulatory examinations.