What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2025-10-17 compared with 2024-10-28 · 326 added, 268 removed, 1414 unchanged (30% of the section changed)

10 unchanged sentences

Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs.

Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances

of fraud, if any, within the Company have been detected.

Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected.

These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake.

8 unchanged sentences

Rule 10b5-1 Trading Plans

During the three months ended August 31, 2024, no director or executive officer of the Company adopted or terminated a trading arrangement intended to satisfy the affirmative defenses of Rule 10b5-1 under the Securities Exchange Act of 1934 or a “non-Rule 10b5-1 trading arrangement,” as defined in Item 408(a) of Regulation S-K.

During the three months ended August 31, 2025, no director or “officer” of the Company (as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934 (the “Exchange Act”)) adopted , modified, or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” (each as defined in Item 408 of Regulation S-K of the Exchange Act), except as follows:

On June 27, 2025 , Michael Dastoor , Jabil’s Chief Executive Officer and a director on Jabil’s board , entered into a Rule 10b5-1 plan with a duration of approximately twelve months , for the sale of up to 54,381 shares of Jabil common stock.

On July 7, 2025 , Mr.

Dastoor terminated this plan.

On July 8, 2025 , Mr.

Dastoor entered into a new Rule 10b5-1 plan with a duration of twelve months , unless earlier terminated pursuant to the terms of the trading arrangement, for the sale of up to 54,381 shares of Jabil common stock.

On June 26, 2025 , Gregory Hebard , Chief Financial Officer , entered into a Rule 10b5-1 trading plan with a duration of six months , unless earlier terminated pursuant to the terms of the trading arrangement, for the sale of up to 8,944 shares of the Company’s common stock.

Directors, Executive Officers and Corporate Governance

Information regarding our executive officers is included in Item 1 of Part I of this Report under the heading “Information about our Executive Officers.”

The other information required by this item is incorporated by reference to the information set forth under the captions “Election of Directors”, “Corporate Governance”, “Board of Directors” and “Audit Committee Matters” in our Proxy Statement for the Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end of our fiscal year ended August 31, 2024 (“Proxy Statement”).

The other information required by this item is incorporated by reference to the information set forth under the captions “Election of Directors”, “Beneficial Ownership – Delinquent Section 16(a) Reports”, “Corporate Governance”, “Audit Committee Matters” and “Insider Trading Policy” in our Proxy Statement for the Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end of our fiscal year ended August 31, 2025 (“Proxy Statement”).

Executive Compensation

The information required by this item is incorporated by reference to the information set forth under the captions “Compensation Matters”, “Board of Directors – Director Compensation” and “Corporate Governance – Compensation Committee Interlocks and Insider Participation” in our Proxy Statement.

The information required by this item is incorporated by reference to the information set forth under the captions “Compensation Matters” (excluding the information under the caption “Pay Versus Performance”), “Election of Directors – Director Compensation” and “Corporate Governance – Compensation Committee Interlocks and Insider Participation” in our Proxy Statement.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

64 unchanged sentences

10.4c† Form of Jabil Inc.

Restricted Stock Unit Award Agreement (TBRSU-NON-Employee Director).

Restricted Stock Unit Award Agreement (TBRSU Executive).

10-Q 10.3 11/30/2022

10.4d† Form of Jabil Inc.

Restricted Stock Unit Award Agreement (TBRSU Executive).

Restricted Stock Unit Award Agreement (TBRSU-NON-Employee Director).

10-Q 10.4 11/30/2022

10.4e† Form of Jabil Inc.

Two-Year Cliff Restricted Stock Unit Award Agreement (TBRSU – Global Executive).

Restricted Stock Unit Award Agreement (TBRSU-Cash-Settled-NON-Employee Director).

10-Q 10.5 11/30/2022

9 unchanged sentences

10.4i† Form of Jabil Inc.

Restricted Stock Unit Award Agreement (TBRSU-NON-Employee Director).

Two-Year Cliff Restricted Stock Unit Award Agreement (TBRSU – Executive).

10-Q 10.4 11/30/2023

10.4j† Form of Jabil Inc.

Restricted Stock Unit Award Agreement (TBRSU-Cash-Settled-NON-Employee Director).

Restricted Stock Unit Award Agreement (TBRSU-NON-Employee Director).

10-Q 10.5 11/30/2023

10.4k† Form of Jabil Inc.

Restricted Stock Unit Award Agreement (PBRSU EPS – Executive).

Restricted Stock Unit Award Agreement (TBRSU-Cash-Settled-NON-Employee Director).

10-Q 10.6 11/30/2023

10.4l†** Form of Jabil Inc.

Restricted Stock Unit Award Agreement (PBRSU TSR – Executive).

Restricted Stock Unit Award Agreement (PBRSU EPS – Executive).

10-Q 10.2 11/30/2024

10.4m†** Form of Jabil Inc.

Restricted Stock Unit Award Agreement (TBRSU Executive).

Restricted Stock Unit Award Agreement (PBRSU TSR – Executive).

10-Q 10.3 11/30/2024

10.4n† Form of Jabil Inc.

Two-Year Cliff Restricted Stock Unit Award Agreement (TBRSU – Executive).

Restricted Stock Unit Award Agreement (TBRSU Executive).

10-Q 10.4 11/30/2024

10.4o† Form of Jabil Inc.

Restricted Stock Unit Award Agreement (TBRSU-NON-Employee Director).

Restricted Stock Unit Award Agreement (TBRSU Executive – Non-Retirement Eligible).

10-Q 10.5 11/30/2024

10.4p† Form of Jabil Inc.

Restricted Stock Unit Award Agreement (TBRSU-Cash-Settled-NON-Employee Director).

Restricted Stock Unit Award Agreement (TBRSU Non-Employee Director).

10-Q 10.6 11/30/2024

1 unchanged sentence

S-8 4.1 2/25/2011

10.6 Amendment No.

3 to Credit Agreement dated as of February 23, 2024 among Jabil Inc.;

10.6** Warrant to Purchase Common Stock, dated December 27, 2024, issued to Amazon.com, Inc.

8-K 4.1 1/3/2025

10.7 Credit Agreement dated as of June 18, 2025 among Jabil Inc.;

the lenders named therein;

Citibank, N.A., as administrative agent;

Sumitomo Mitsui Banking Corporation and Citibank, N.A., as sustainability agents;

JPMorgan Chase Bank, N.A.

and Bank of America, N.A., as co-syndication agents;

BNP Paribas, Credit Agricole Corporate and Investment Bank, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and U.S.

Bank National Association, as documentation agents;

and Citibank, N.A., JPMorgan Chase Bank, N.A., BofA Securities, Inc., BNP Paribas Securities Corp., Credit Agricole Corporate and Investment Bank, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and U.S.

Bank of America, N.A.

and JPMorgan Chase Bank, N.A., as co-syndication agents;

BNP Paribas, Credit Agricole Corporate and Investment Bank, Miztem uho Bank, Ltd., Sumitomo Mitsui Banking Corporation and U.S.

Bank National Association, as co-documentation agents;

and Citibank, N.A., BofA Securities, Inc., JPMorgan Chase Bank, N.A., BNP Paribas Securities Corp., Credit Agricole Corporate and Investment Bank, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and U.S.

Bank National Association, as joint lead arrangers and joint bookrunners.

8-K 10.1 6/24/2025

10.7*** Agreement for the Sale and Purchase of Shares in Juno Newco Target Holdco Singapore Pte.

and certain Assets of Jabil Circuit (Singapore) Pte.

Ltd., dated as of September 26, 2023, by and between BYD Electronic (International) Company Limited and Jabil Circuit (Singapore) Pte.

Ltd., a Singapore private limited company.

10-K 10.9 8/31/2023

10.8†** Mutual Separation Agreement and Release dated as of August 21, 2023, between Jabil Inc.

and Steven Borges.

8-K 10.1 8/25/2023

10.9†** Separation, Release and Restrictive Covenants Agreement between Kenneth S.

Wilson and Jabil Inc.

dated May 19, 2024.

8-K 10.1 5/20/2024

10.10† Amendment to Mutual Separation Agreement and Release dated as of May 19, 2024 between Jabil Inc.

and Steven D.

8-K 10.2 5/20/2024

10.11†** Mutual Separation Agreement and Release dated May 24, 2024, between Jabil Inc.

and Gerald (“JJ”) Creadon.

8-K 10.1 5/31/2024

19.1 Insider Trading Policy

10-K 19.1 8/31/2024

21.1* List of Subsidiaries.

6 unchanged sentences

97.1 Executive Compensation Recoupment (Clawback) Policy.

10-K 97.1 8/31/2024

101 The following financial information from Jabil’s Annual Report on Form 10-K for the fiscal period ended August 31, 2025, formatted in Inline XBRL:

92 unchanged sentences

The Company uses significant judgment in (1) determining whether the technical merits of tax positions taken in various jurisdictions are more-likely-than-not to be sustained based on applicable tax law and (2) measuring the related amount of tax benefit that qualifies for recognition.

Auditing the tax positions was challenging because the recognition and measurement of the uncertain tax positions is judgmental and is based on interpretations of statutes, regulations, tax rulings and case law across various jurisdictions.

How We Addressed the Matter in Our Audit We identified and tested internal controls over the Company’s process to monitor and assess the technical merits of tax positions taken in various jurisdictions.

Auditing the tax positions related to the application of transfer pricing rules to certain intercompany transactions was challenging because the recognition and measurement of the uncertain tax positions is judgmental and is based on interpretations of statutes, regulations, tax rulings and case law in certain jurisdictions.

How We Addressed the Matter in Our Audit We identified and tested internal controls over the Company’s process to monitor and assess the technical merits of tax positions related to the application of transfer pricing rules to certain intercompany transactions.

We also identified and tested controls over the Company’s process to determine the application of the relevant statutes, regulations, tax rulings and case law, including management’s process to recognize and measure the related tax positions.

In testing the recognition and measurement criteria, we involved tax professionals to assist in assessing the technical merits of the Company’s tax positions.

In addition, we used our knowledge of and experience with the application of domestic and international income tax laws by the relevant tax authorities to evaluate the Company’s accounting for those tax positions.

In testing the recognition and measurement criteria, we involved our tax professionals to assist in assessing the technical merits of the Company’s tax positions.

In addition, we used our knowledge of and experience with the application of income tax laws by the relevant tax authorities to evaluate the Company’s accounting for those tax positions.

We also assessed the Company’s assumptions and data used to measure the amount of tax benefit that qualifies for recognition and tested the clerical accuracy of the calculations.

Lastly, we evaluated the Company’s income tax disclosures included in Note 16 in relation to the Company’s uncertain tax positions.

Lastly, we evaluated the adequacy of the Company’s income tax disclosures included in Note 16 in relation to the Company’s uncertain tax positions.

/s/ Ernst & Young LLP

12 unchanged sentences

Prepaid expenses and other current assets 2,010 1,710

Assets held for sale — 1,929

Total current assets 13,720 12,791

12 unchanged sentences

Current operating lease liabilities 93 93

Liabilities held for sale — 1,397

Total current liabilities 13,714 11,782

36 unchanged sentences

Restructuring, severance and related charges 181 296 57

Gain from the divestiture of businesses ( 942 ) — —

Loss (gain) from the divestiture of businesses 53 ( 942 ) —

Acquisition and divestiture related charges 20 70 —

1 unchanged sentence

1,182 2,013 1,537

Loss on debt extinguishment — — 4

Loss on securities

Other expense

19 unchanged sentences

$ 657 $ 1,388 $ 818

Other comprehensive (loss) income:

Other comprehensive income (loss):

Change in foreign currency translation 16 ( 5 ) 25

Change in derivative instruments 19 ( 2 ) 17

Actuarial (loss) gain

( 17 ) ( 19 ) 14

Prior service (cost) credit

Total other comprehensive (loss) income

Actuarial loss

( 11 ) ( 17 ) ( 19 )

Prior service credit (cost)

Total other comprehensive income (loss)

Comprehensive income

14 unchanged sentences

Beginning balances 2,841 2,795 2,655

2,795 2,655 2,533

Shares issued under employee stock purchase plan 62 58 51

Purchase of noncontrolling interest ( 2 ) — —

Disposition (purchase) of noncontrolling interest 2 ( 2 ) —

Treasury shares purchased 30 ( 96 ) —

Recognition of stock-based compensation 104 86 89

Reclassification of liability award 4 — —

Provision for common stock warrant 4 — —

Ending balances 3,047 2,841 2,795

2,841 2,795 2,655

Retained earnings:

Beginning balances 5,760 4,412 3,638

4,412 3,638 2,688

Declared dividends ( 35 ) ( 40 ) ( 44 )

( 40 ) ( 44 ) ( 46 )

Net income attributable to Jabil Inc.

1 unchanged sentence

Ending balances 6,382 5,760 4,412

5,760 4,412 3,638

Accumulated other comprehensive loss:

Beginning balances ( 46 ) ( 17 ) ( 42 )

( 17 ) ( 42 ) ( 25 )

Total other comprehensive (loss) income

( 29 ) 25 ( 17 )

Total other comprehensive income (loss)

Ending balances ( 17 ) ( 46 ) ( 17 )

( 46 ) ( 17 ) ( 42 )

Treasury stock:

Beginning balances ( 6,818 ) ( 4,324 ) ( 3,800 )

( 4,324 ) ( 3,800 ) ( 3,060 )

Purchases of treasury stock under employee stock plans ( 42 ) ( 68 ) ( 36 )

( 68 ) ( 36 ) ( 44 )

Treasury shares purchased ( 1,030 ) ( 2,404 ) ( 487 )

( 2,404 ) ( 487 ) ( 696 )

Excise taxes related to treasury shares purchased ( 9 ) ( 22 ) ( 1 )

Ending balances ( 7,899 ) ( 6,818 ) ( 4,324 )

( 6,818 ) ( 4,324 ) ( 3,800 )

Noncontrolling interests:

Beginning balances — 1 1

Net income attributable to noncontrolling interests, net of tax

Net income attributable to noncontrolling interests — — —

Purchase of noncontrolling interest — ( 1 ) —

Capital contribution of noncontrolling interest 4 — —

Ending balances 4 — 1

14 unchanged sentences

Deferred income taxes ( 124 ) ( 64 ) 85

Gain from the divestiture of businesses ( 942 ) — —

Loss (gain) from the divestiture of businesses 53 ( 942 ) —

Other, net ( 2 ) ( 18 ) 13

8 unchanged sentences

1,640 1,716 1,734

Cash flows provided by (used in) investing activities:

Cash flows (used in) provided by investing activities:

Acquisition of property, plant and equipment ( 468 ) ( 784 ) ( 1,030 )

1 unchanged sentence

Cash paid for business and intangible asset acquisitions, net of cash ( 392 ) ( 90 ) ( 29 )

Proceeds from the divestiture of businesses 2,108 50 —

Proceeds from the divestiture of businesses, net of cash 7 2,108 50

Other, net ( 7 ) ( 6 ) ( 36 )

Net cash provided by (used in) investing activities

Net cash (used in) provided by investing activities

( 714 ) 1,351 ( 723 )

11 unchanged sentences

Effect of exchange rate changes on cash and cash equivalents 10 ( 2 ) ( 5 )

Net increase (decrease) in cash and cash equivalents

Net (decrease) increase in cash and cash equivalents

( 268 ) 397 326

56 unchanged sentences

Immaterial impairments for fulfillment costs were recognized during the fiscal years ended August 31, 2025, 2024, and 2023, respectively.

During the fiscal year ended August 31, 2024, the Company had $ 47 million of capitalized fulfillment costs which were disposed of as part of the divestiture of the Mobility Business.

See Note 17 - “Business Acquisitions and Divestitures” for additional information.

Property, Plant and Equipment, net

76 unchanged sentences

The Company recognizes estimates of this variable consideration that are not expected to result in a significant revenue reversal in the future, primarily based on the most likely level of consideration to be paid to the customer under the specific terms of the underlying programs.

The Company is responsible for procuring certain components from suppliers for the manufacturing of finished goods at the direction of certain customers.

If the Company does not obtain control of these components before they are transferred to the customer, the Company accounts for revenue associated with such components on a net basis.

Revenue associated with components procured directly from customers is accounted for on a net basis if the components do not constitute a distinct good or service from the customer.

As of August 31, 2024, and 2023, the Company had $ 734 million and $ 218 million, respectively, of components included in prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets, related to purchases made to procure components for customers whereby the associated revenue is expected to be accounted for on a net basis once transferred to the customer.

The Company is responsible for procuring certain components for the manufacturing of finished goods at the direction of certain customers.

If the Company does not obtain control of these components before they are transferred to the customer, the Company accounts for revenue and cost of revenue associated with such components on a net basis.

Revenue and cost of revenue associated with components procured directly from customers is accounted for on a net basis if the components do not constitute a distinct good or service from the customer.

As of August 31, 2025, and 2024, the Company had $ 1.1 billion and $ 734 million, respectively, of components included in prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets, related to purchases made to procure components for customers whereby the associated revenue is expected to be accounted for on a net basis once transferred to the customer.

Taxes collected from the Company’s customers and remitted to governmental authorities are presented within the Company’s Consolidated Statements of Operations on a net basis and are excluded from the transaction price.

1 unchanged sentence

Accordingly, the Company records customer payments of shipping and handling costs as a component of net revenue and classifies such costs as a component of cost of revenue.

The Company accounts for the warrant issued to Amazon.com NV Investment Holdings LLC as an equity instrument within additional paid-in-capital at its estimated fair value on the Consolidated Balance Sheets, and the provision for the warrant is recorded as a reduction to revenue on the Consolidated Statements of Operations.

To estimate the fair value of the warrant, the Company used the Black-Scholes option pricing model, which is based on assumptions that require management to use judgement.

Based on the estimated fair value, the Company determined the amount of provision for common stock warrant, which is amortized ratably as a reduction to revenue based on the Company’s estimate of revenue over the warrant term.

Refer to Note 13 – “Stockholders’ Equity” to the Consolidated Financial Statements for further details.

Stock-Based Compensation

40 unchanged sentences

The Company does not record a servicing asset or liability on the Consolidated Balance Sheets as the Company estimates that the fee it receives to service these receivables approximates the fair market compensation to provide the servicing activities.

Transfers of the receivables under the trade accounts receivable sale programs are accounted for as sales and, accordingly, net receivables sold under the trade accounts receivable sale programs are excluded from accounts receivable on the Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Consolidated Statements of Cash Flows.

The following is a summary of the trade accounts receivable sale programs with unaffiliated financial institutions where the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase, at a discount, on an ongoing basis (in millions):

Program Maximum

Facility Expiration

$ 350 Uncommitted

$ 120 Uncommitted

$ 150 Uncommitted

May 4, 2028 (2)

$ 170 Uncommitted

$ 50 Uncommitted

$ 100 Uncommitted

$ 800 Uncommitted

$ 250 Uncommitted

$ 100 Uncommitted

$ 75 Uncommitted

January 23, 2025 (2)

In conjunction with the trade accounts receivable sale programs, the Company is required to remit amounts collected as a servicer under the trade accounts receivable sale programs to the unaffiliated financial institutions that purchased the receivables.

The outstanding balance of receivables sold and not yet collected on accounts where the Company has continuing involvement was approximately $ 927 million and $ 367 million as of August 31, 2025, and 2024, respectively.

Transfers of the receivables under the trade accounts receivable sale programs are accounted for as sales and, accordingly, net receivables sold

under the trade accounts receivable sale programs are excluded from accounts receivable on the Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Consolidated Statements of Cash Flows.

The following is a summary of the Company’s uncommitted trade accounts receivable sale programs with unaffiliated financial institutions where the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase, at a discount, on an ongoing basis (in millions):

Program Maximum Amount (1)(2)

(1) Maximum amount of trade accounts receivable that may be sold under a facility at any one time.

(2) Any party may elect to terminate the agreement upon 30 days prior notice.

(3) Any party may elect to terminate the agreement upon 15 days prior notice.

(2) The trade accounts receivable sale programs either expire on various dates through 2028 or do not have expiration dates and may be terminated upon election of the Company or the unaffiliated financial institutions.

In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):

13 unchanged sentences

Inventories, net $ 4,681 $ 4,276

(1) Excludes $ 559 million of inventories, net classified as held for sale.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

Property, Plant and Equipment

12 unchanged sentences

Property, plant and equipment, net $ 2,847 $ 3,024

(1) Excludes $ 724 million of property, plant and equipment, net classified as held for sale.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

(1) Amount includes short-term and long-term fixed asset costs that are expected to be placed into service.

Depreciation and maintenance and repair expenses were as follows for the periods indicated (in millions):

15 unchanged sentences

Total lease liabilities $ 846 $ 731

(1) Excludes operating lease and finance lease assets and liabilities classified as held for sale.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

(1) Net of accumulated amortization of $ 136 million and $ 162 million as of August 31, 2025 and 2024, respectively.

40 unchanged sentences

Goodwill and Other Intangible Assets

Beginning September 1, 2024, the Company reorganized its internal structure to focus on speed, precision, and solutions, and as a result of the organizational realignment, the Company’s operating segments now consist of three segments – Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce, which are also the Company’s reportable segments.

See Note 14 – “Concentration of Risk and Segment Data” to the Consolidated Financial Statements for additional information.

The Company performs a goodwill impairment analysis on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable.

As a result of the change in reportable segments, the Company’s reporting units also changed.

In connection with the preparation of the Company’s financial statements for the quarter ended November 30, 2024, the Company tested goodwill for impairment immediately before and after the reorganization.

As a result of these analyses, the Company determined that goodwill was not impaired before or after the reorganization.

The Company completed its annual impairment analysis for goodwill during the fourth quarter of fiscal year 2025.

The quantitative assessment was performed, and the Company determined that the fair values of the reporting units exceeded the carrying values and that no impairment existed as of the date of the impairment analysis.

In connection with the divestiture of the Company’s Mobility Business, the Company performed an impairment analysis for goodwill recorded within the reporting unit impacted by the divestiture and the indefinite-lived (“Green Point”) trade name during the second quarter of fiscal year 2024.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

The following table presents the changes in goodwill allocated to the Company’s reportable segments, Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), during the fiscal years ended August 31, 2024 and 2023 (in millions):

EMS DMS Total

A quantitative or qualitative assessment was performed, and the Company determined that the fair values of the reporting units exceeded the carrying values and that no impairment existed as of the date of the impairment analysis.

The following table presents the changes in goodwill allocated to the Company’s reportable segments during the fiscal years ended August 31, 2025 and 2024 (in millions):

Regulated Industries Intelligent Infrastructure Connected Living and Digital Commerce Total

Balance as of August 31, 2023

2 unchanged sentences

Change in foreign currency exchange rates 5 — 1 6

Goodwill classified as held for sale — ( 117 ) ( 117 )

Balance as of August 31, 2024

490 69 102 661

Acquisitions and adjustments (1)

178 7 ( 12 ) 173

Change in foreign currency exchange rates 5 — 2 7

1 unchanged sentence

$ 673 $ 76 $ 92 $ 841

(1) Primarily in connection with the acquisitions of Pharmaceutics International, Inc.

(“Pii”) and Mikros Technologies LLC (“Mikros Technologies”) during the fiscal year ended August 31, 2025.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

The following table is a summary of the Company’s gross goodwill balances and accumulated impairments as of the periods indicated (in millions):

2 unchanged sentences

Impairment Gross

Amount Accumulated

Goodwill $ 1,861 $ 1,020 $ 1,681 $ 1,020

(1) Excludes $ 117 million of goodwill classified as held for sale.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

The following table presents the Company’s total purchased intangible assets as of August 31, 2025, and 2024 (in millions):

(in years) August 31, 2024 August 31, 2023

(in years) August 31, 2025 (1)

August 31, 2024

Amount Accumulated

6 unchanged sentences

Finite-lived trade names 2 132 ( 119 ) 13 130 ( 95 ) 35

2 130 ( 95 ) 35 79 ( 78 ) 1

Trade names (1)

Indefinite — — — 51 — 51

Total intangible assets 10 $ 866 $ ( 593 ) $ 273 $ 689 $ ( 546 ) $ 143

(1) In the second quarter of fiscal year 2024 and in connection with the divestiture of the Mobility Business, the Company made a strategic decision that the indefinite-lived (“Green Point”) trade name acquired during the acquisition of Green Point should no longer be classified as an indefinite-lived intangible asset.

(1) In connection with the acquisition of Pii, the Company acquired $ 149 million of intangible assets, including $ 109 million assigned to contractual agreements and customer relationships and $ 38 million assigned to intellectual property.

In connection with the acquisition of Mikros Technologies, the Company acquired $ 40 million of intangible assets, including $ 31 million assigned to contractual agreements and customer relationships.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

19 unchanged sentences

Borrowings under credit facilities (3)(4)

Jan 22, 2026 and Jan 22, 2028 — —

Borrowings under loans Jul 31, 2026 — —

Jun 18, 2030 — —

Total notes payable and long-term debt 2,885 2,880

4 unchanged sentences

(2) The Senior Notes are the Company’s senior unsecured obligations and rank equally with all other existing and future senior unsecured debt obligations.

(3) On April 13, 2023, the Company issued $ 300 million of publicly registered 5.450 % Senior Notes due 2029 (the “ 5.450 % Senior Notes”).

The Company used the net proceeds for general corporate purposes, including, together with available cash, repayment of the $ 300 million aggregate principal amount of the Company’s 4.900 % Senior Notes due in July 2023.

(4) On February 23, 2024, the Company entered into an amendment (the “Amendment”) to its senior unsecured credit agreement dated as of January 22, 2020 (as amended, the “Credit Facility”).

The Amendment, among other things, (i) instituted certain amendments to the sustainability-linked adjustments to the interest rates applicable to borrowings under the Company’s three-year revolving credit facility (the “ Three-Year Revolving Credit Facility”) and the Company’s five-year revolving credit facility (the “ Five-Year Revolving Credit Facility”) and (ii) extended the termination date of the Three-Year Revolving Credit Facility (with respect to the available commitments of the extending lenders) to January 22, 2026, and of the Five-Year Revolving Credit Facility (with respect to the available commitments of the extending lenders) to January 22, 2028, in each case subject to an additional one-year extension at the option of the Company.

(5) As of August 31, 2024, the Company has $ 4.0 billion in available unused borrowing capacity under its revolving credit facilities.

The Credit Facility acts as the back-up facility for commercial paper outstanding, if any.

(3) On June 18, 2025, the Company entered into a senior unsecured credit agreement (the “Agreement”).

The Agreement provides for a five-year revolving credit facility in the initial amount of $ 3.2 billion (the “Revolving Credit Facility”), which may, subject to the lender’s discretion, potentially be increased by up to an aggregate amount of $ 1.0 billion.

The Revolving Credit Facility expires on June 18, 2030, subject to unlimited successive one-year extension options (subject to the lenders’ discretion), provided that the tenor of the Revolving Credit Facility shall at no time exceed five-years .

Interest and fees on advances under the Revolving Credit Facility are based on the Company’s non-credit enhanced long-term senior unsecured debt rating as determined by S&P Global Ratings, Moody’s Ratings and Fitch Ratings.

connection with the Company’s entry into the Agreement, the Company terminated its $ 3.2 billion credit agreement dated January 22, 2020.

Interest for borrowings under the Revolving Credit Facility is charged at a rate equal to either 0.00 % to 0.45 % above the base rate or 0.90 % to 1.45 % above the benchmark rate, as applicable, based on the Company’s credit ratings.

The base rate represents the greatest of:

(i) Citibank, N.A.’s prime rate, (ii) 0.50 % above the federal funds rate, and (iii) 1.0 % above one-month Term SOFR, but not less than zero.

The benchmark rate represents Term SOFR, EURIBOR, TIBOR or Daily Simple SOFR, as applicable, for the applicable interest period, but not less than zero.

Fees include a facility fee based on the revolving credit commitments of the lenders and a letter of credit fee based on the amount of outstanding letters of credit.

(4) As of August 31, 2025, the Company had $ 4.0 billion in available unused borrowing capacity under its existing revolving credit facilities, of which $ 3.2 billion was available under the Revolving Credit Facility.

The Revolving Credit Facility acts as the back-up facility for commercial paper outstanding, if any.

The Company has a borrowing capacity of up to $ 3.2 billion under its commercial paper program.

14 unchanged sentences

Refer to Note 18 – “Fair Value Measurements” for the estimated fair values of the Company’s notes payable and long-term debt.

Asset-Backed Securitization Programs

Asset-Backed Securitization Program

Certain Jabil entities participating in the global asset-backed securitization program continuously sell designated pools of trade accounts receivable to a special purpose entity, which in turn sells certain of the receivables at a discount to conduits administered by an unaffiliated financial institution on a monthly basis.

In addition, the foreign entity participating in the global asset-backed securitization program sells certain receivables at a discount to conduits administered by an unaffiliated financial institution on a daily basis.

The Company continues servicing the receivables sold and in exchange receives an immaterial servicing fee under the global asset-backed securitization programs.

As these accounts receivable are sold without recourse, the Company does not retain the associated risks following the transfer of such accounts receivable to the respective financial institutions.

The Company continues servicing the receivables sold and in exchange receives an immaterial servicing fee under the global asset-backed securitization program.

In conjunction with the global asset-backed securitization program, the Company is required to remit amounts collected as a servicer under the global asset-backed securitization program to a special purpose

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Certain unsold receivables covering up to the maximum amount of net cash proceeds available under the domestic, or U.S., portion of the global asset-backed securitization program are pledged as collateral to the unaffiliated financial institution as of August 31, 2025.

The global asset-backed securitization program expires on November 25, 2024.

Effective February 20, 2024, the terms of the global asset-backed securitization program were amended to increase the maximum amount of net cash proceeds available at any one time from $ 600 million to $ 700 million.

As of August 31, 2024, the Company had no available liquidity under its global asset-backed securitization program.

Transfers of the receivables under the asset-backed securitization programs are accounted for as sales and, accordingly, net receivables sold under the asset-backed securitization programs are excluded from accounts receivable on the Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Consolidated Statements of Cash Flows.

In connection with the asset-backed securitization programs, the Company recognized the following (in millions):

Effective January 23, 2025, the terms of the global asset-backed securitization program were amended to extend the termination date from January 2025 to January 2028.

The maximum amount of net cash proceeds available at any one time is $ 700 million.

The outstanding balance of receivables sold and not yet collected on accounts where the Company has continuing involvement was approximately $ 372 million and $ 338 million as of August 31, 2025, and 2024, respectively.

Transfers of the receivables under the asset-backed securitization program are accounted for as sales and, accordingly, net receivables sold under the asset-backed securitization program are excluded from accounts receivable on the Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Consolidated Statements of Cash Flows.

In connection with the asset-backed securitization program, the Company recognized the following (in millions):

Fiscal Year Ended August 31,

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(2) Recorded to other expense within the Consolidated Statements of Operations.

The global asset-backed securitization program requires compliance with several covenants including compliance with the interest ratio and debt to EBITDA ratio of the Credit Facility.

The global asset-backed securitization program requires compliance with several covenants including compliance with the interest ratio and debt to EBITDA ratio of the Revolving Credit Facility.

As of August 31, 2025, 2024, and 2023, the Company was in compliance with all covenants under the global asset-backed securitization program.

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Accrued expenses $ 5,185 $ 5,499

(1) Excludes $ 364 million of accrued expenses classified as held for sale.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

(1) Revenue recognized during the fiscal years ended August 31, 2025 and 2024 that was included in the contract liability balance as of August 31, 2024, and 2023 was $ 592 million and $ 507 million, respectively.

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The Company also has a qualified defined benefit pension plan for employees in Switzerland (the “Switzerland plan”).

The Switzerland plan provides benefits based on average employee earnings over an approximately 8-year service period preceding retirement and length of employee service.

The Switzerland plan provides benefits based on average employee earnings over an approximately eight-year service period preceding retirement and length of employee service.

The Company’s policy is to contribute amounts sufficient to meet minimum funding requirements as set forth in Switzerland employee benefit and tax laws plus such additional amounts as are deemed appropriate by the Company.

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Interest cost 11 12

Actuarial loss (gain)

Actuarial loss

Settlements paid from plan assets (1)

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( 2 ) ( 3 ) ( 7 )

Net settlement loss (2)

Amortization of prior service costs (2)

Net periodic benefit cost

$ 13 $ 11 $ 3

(1) Service cost is recognized in cost of revenue in the Consolidated Statements of Operations.

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The Company has adopted an investment policy for a majority of plan assets, which was set by plan trustees who have the responsibility for making investment decisions related to the plan assets.

The plan trustees oversee the investment allocation, including selecting professional investment managers and setting strategic targets.

The plan trustees oversee the investment allocation,

including selecting professional investment managers and setting strategic targets.

The investment objectives for the assets are (1) to acquire suitable assets that hold the appropriate liquidity in order to generate income and capital growth that, along with new contributions, will meet the cost of current and future benefits under the plan, (2) to limit the risk of the plan assets from failing to meet the plan liabilities over the long-term, and (3) to minimize the long-term costs under the plan by maximizing the return on the plan assets.

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Maturity date August 31, 2025 August 31, 2024

September 2023 $ — $ 34

October 2024 $ — $ 140

January 2025 — 106

April 2024 — 68

July 2025 — 55

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January 2026 200 106

April 2026 42 —

July 2026 45 —

January 2026 106 —

Total $ 390 $ 407

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Derivative instruments designated as cash flow hedges:

(Losses) gains recognized in OCI (1)

Gains (losses) recognized in OCI (1)

$ 14 $ ( 21 ) $ ( 25 )

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Derivative instruments not designated as hedging instruments:

Gains (losses) recognized in earnings from forward foreign exchange contracts Cost of revenue $ 16 $ ( 111 ) $ ( 71 )

(Losses) gains recognized in earnings from forward foreign exchange contracts Cost of revenue $ ( 36 ) $ 16 $ ( 111 )

(Losses) gains recognized in earnings from changes in foreign currency Cost of revenue $ ( 6 ) $ ( 52 ) $ 58

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The Company periodically enters into interest rate swaps to manage interest rate risk associated with the Company’s borrowings or anticipated debt issuances.

In March 2025, the Company entered into forward interest rate swap transactions to hedge the fixed interest rate payments for an anticipated debt issuance or the contractually specified SOFR interest rates for anticipated term loan borrowings.

The forward interest rate swaps have an aggregate notional amount of $ 100 million and have been designated as hedging instruments and accounted for as cash flow hedges.

The forward interest rate swaps are scheduled to expire on July 31, 2026.

If the anticipated debt issuance or term loan borrowings occurs before July 31, 2026, the contracts will be terminated simultaneously with the debt issuance or term loan borrowings.

The contracts will be settled with the respective counterparties on a net basis at the time of termination or expiration.

Changes in the fair value of the forward interest rate swap transactions are recorded on the Consolidated Balance Sheets as a component of AOCI.

Contemporaneously with the issuance of the 5.450 % Senior Notes in April 2023, the Company settled cash flow hedges with an aggregate notional amount of $ 150 million and $ 100 million, with effective dates of May 2021 and August 2022, respectively.

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The settled cash flow hedges are recorded in the Consolidated Balance Sheets as a component of AOCI and are amortized to interest expense, net in the Consolidated Statements of Operations.

As of August 31, 2024, there are no outstanding interest rate swaps.

Contemporaneously with the issuance of the 4.250 % Senior Notes in April 2022, the Company settled cash flow hedges with an aggregate notional amount of $ 250 million and $ 170 million, with effective dates of November 2020 and March 2022, respectively.

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The settled cash flow hedges are recorded in the Consolidated Balance Sheets as a component of AOCI and are amortized to interest expense, net in the Statements of Operations.

Contemporaneously with the issuance of the 3.000 % Senior Notes in July 2020, the Company amended interest rate swap agreements with a notional amount of $ 200 million, with mandatory termination dates from August 15, 2020, through February 15, 2022 (the “2020 Extended Interest Rate Swaps”).

In addition, the Company entered into interest rate swaps to offset future exposures of fluctuations in the fair value of the 2020 Extended Interest Rate Swaps (the “Offsetting Interest Rate Swaps”).

The change in fair value of the 2020 Extended Interest Rate Swaps and Offsetting Interest Rate Swaps was recorded in the Consolidated Statements of Operations through the maturity date of February 15, 2022, as an adjustment to interest expense, net.

Accumulated Other Comprehensive Income

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Restricted stock units $ 89 $ 70 $ 81

$ 70 $ 81 $ 67

Employee stock purchase plan 18 19 14

Total $ 107 $ 89 $ 95

(1) During the fiscal year ended August 31, 2024, the Company recorded a $ 13 million reversal to stock-based compensation expense primarily due to forfeitures of time-based, performance-based and market-based restricted stock awards.

Equity Compensation Plan

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(1) For those shares granted that are based on the achievement of certain performance criteria, the amount represents the maximum number of shares that can vest.

During the fiscal year ended August 31, 2024, the Company awarded approximately 0.5 million time-based restricted stock units, 0.1 million performance-based restricted stock units and 0.1 million market-based restricted stock units based on target performance criteria.

During the fiscal year ended August 31, 2025, the Company awarded

approximately 0.6 million time-based restricted stock units, 0.1 million performance-based restricted stock units and 0.1 million market-based restricted stock units based on target performance criteria.

The following table represents the restricted stock units stock-based compensation information for the periods indicated (in millions):

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Amended 2023 Share Repurchase Program Q1 FY 2024 $ 2,500 20.4 $ 2,500 $ — Q1 FY 2025

2025 Share Repurchase Program Q1 FY 2025 $ 1,000 6.6 $ 1,000 $ — Q4 FY 2025

2026 Share Repurchase Program (2)

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Q4 FY 2024 Q1 FY 2025 (1) $ 555 4.2 1.0 5.2 $ 107.08

Q2 FY 2025 Q3 FY 2025 (2) $ 310 1.8 0.2 2.0 $ 154.44

Q3 FY 2025 Q4 FY 2025 (3) $ 309 1.8 0.0 1.8 $ 171.91

(1) In September 2024, as part of the amended 2023 Share Repurchase Program, an ASR transaction was completed, and 1.0 million additional shares were delivered under the Q4 FY 2024 ASR agreements.

(2) In December 2024, as part of the 2025 Share Repurchase Program, the Company entered into ASR agreements to repurchase $ 310 million, excluding excise tax, of the Company’s common stock.

Under the ASR agreements, the Company made payments of $ 310 million to participating financial institutions and received an initial delivery of shares of common stock.

In March 2025, the ASR transaction was completed, and 0.2 million additional shares were delivered under the Q2 FY 2025 ASR agreements.

(3) In March 2025, as part of the 2025 Share Repurchase Program, the Company entered into ASR agreements to repurchase $ 309 million, excluding excise tax, of the Company’s common stock.

Under the ASR agreements, the

Company made payments of $ 309 million to participating financial institutions and received an initial delivery of shares of common stock.

In July 2025, the ASR transaction was completed and no additional shares were delivered under the Q3 FY 2025 ASR agreements.

In addition, the Company repurchased shares of its common stock through the open market as follows (in millions):

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Open market share repurchases (1)

2.8 $ 377 11.3 $ 1,445 6.7 $ 487

(1) As of October 10, 2025, 0.6 million shares had been repurchased for $ 135 million through open market transactions under the 2026 Share Repurchase Program.

On December 27, 2024, the Company issued a warrant (the “Warrant”) to Amazon.com NV Investment Holdings LLC (“Warrantholder”) to acquire up to 1,158,539 ordinary shares of the Company (“Warrant Shares”) at an initial exercise price of $ 137.7671 per share, which is the preceding 30 trading day VWAP.

The Warrant allows for cashless exercise and expires December 27, 2031.

The Warrant Shares are subject to vesting for payments for purchased products and services over the seven-year Warrant term, with 59,582 of the Warrant Shares having vested upon issuance.

Upon the consummation of an acquisition transaction (as defined in the Warrant), subject to certain exceptions, the unvested portion of the Warrant will vest in full.

So long as the Warrant is unexercised, the Warrant does not entitle the Warrantholder to any voting rights or any other common stockholder rights.

The exercise price and the number of Warrant Shares are subject to customary anti-dilution adjustments.

The estimated fair value of the Warrant was determined as of the issuance date, using the Black-Scholes option pricing model.

The following assumptions were used in the model:

December 27, 2024

Stock price $ 145.92

Exercise price $ 137.77

Expected life 7.0 years

Expected volatility (1)

Risk-free interest rate 4.5 %

(1) The expected volatility was estimated using the historical volatility derived from the Company’s common stock.

The following table summarizes the Warrant activity for the fiscal year ended August 31, 2025:

Warrant Shares

Outstanding as of August 31, 2024

Changes during the period

Shares granted 1,158,539

Shares vested ( 59,582 )

Outstanding as of August 31, 2025

Exercisable as of August 31, 2025

Concentration of Risk and Segment Data

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The Company performs periodic evaluations of the relative credit standing of the financial institutions and attempts to limit exposure with any one institution.

For trade receivables, the Company performs ongoing credit evaluations of its customers and generally does not require collateral.

For trade receivables, the Company

performs ongoing credit evaluations of its customers and generally does not require collateral.

The Company maintains an allowance for expected credit losses on trade receivables.

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As the Company is a provider of manufacturing services and solutions and products are built based on customer specifications, it is impracticable to provide revenues from external customers for each product and service.

Sales to the following customer accounted for 10% or more of the Company’s net revenues, expressed as a percentage of consolidated net revenue:

Sales to the following customers that accounted for 10% or more of the Company’s net revenues, expressed as a percentage of consolidated net revenue, and the percentage of accounts receivable for the customers, were as follows:

Percentage of Net Revenue

Fiscal Year Ended August 31,

Fiscal Year Ended August 31, Percentage of Accounts Receivable

as of August 31,

2025 2024 2023 2025 2024

Customer A (1)

16 % * * 24 % 17 %

(1) Sales to this customer were reported in the DMS operating segment.

Customer B (2)

* 11 % 17 % * *

* Amount was less than 10% of total.

(1) Sales to this customer were reported primarily in the Intelligent Infrastructure segment.

(2) Sales to this customer were reported in the Connected Living and Digital Commerce segment.

The Company procures components from a broad group of suppliers.

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for which separate financial information is available;

and whose operating results are regularly reviewed by the chief operating decision maker (“CODM”) to assess the performance of the individual segment and make decisions about resources to be allocated to the segment.

and whose operating results are regularly reviewed by the chief operating decision maker (“CODM”), our Chief Executive Officer.

The CODM regularly reviews net revenue by segment, segment income, and segment income margin, including prior period comparison and forecasted segment results, to assess the performance of the individual segments and make decisions about resources to be allocated to the segments.

The Company derives its revenue from providing comprehensive electronics design, production and product management services.

The CODM evaluates performance and allocates resources on a segment basis.

The Company’s operating segments consist of two segments – EMS and DMS, which are also the Company’s reportable segments.

The segments are organized based on the economic profiles of the services performed, including manufacturing capabilities, market strategy, margins, return on capital, and risk profiles.

The EMS segment is focused on leveraging IT, supply chain design and engineering, technologies largely centered on core electronics, utilizing the Company’s large scale manufacturing infrastructure and the ability to serve a broad range of end markets.

The EMS segment is a high-volume business that produces product at a quicker rate (i.e.

cycle time) and in larger quantities and includes customers primarily in the 5G, wireless and cloud, digital print and retail, industrial and semi-capital equipment, and networking and storage industries.

The DMS segment is focused on providing engineering solutions, with an emphasis on material sciences, technologies and healthcare.

The DMS segment includes customers primarily in the automotive and transportation, connected devices, and healthcare and packaging industries.

The DMS segment included the results of the Mobility Business prior to the closing of its sale on December 29, 2023.

Beginning September 1, 2024, the Company reorganized its internal structure to focus on speed, precision, and solutions and as a result of the organizational realignment, the Company will report its business in the following three segments:

Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce.

Prior to the first quarter of fiscal year ended August 31, 2025, the Company’s operating segments consisted of two segments – Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”).

Beginning September 1, 2024, the Company reorganized its internal structure to focus on speed, precision, and solutions and, as a result of the organizational realignment, the Company’s operating segments now consist of three segments – Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce, which are also the Company’s reportable segments.

All prior period disclosures presented have been recast to reflect this change.

The Regulated Industries segment is focused on regulated markets and includes revenues from customers primarily in the automotive and transportation, healthcare and packaging, and renewable energy infrastructure industries.

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The Connected Living and Digital Commerce segment is focused on digitalization and automation, including warehouse automation and robotics, and includes revenues from customers primarily in the connected living and digital commerce industries.

The segments are organized based on the economic profiles of the services performed, including manufacturing capabilities, market strategy, margins, return on capital, and risk profiles.

Net revenue for the operating segments is attributed to the segment in which the service is performed.

An operating segment’s performance is evaluated based on its pre-tax operating contribution, or segment income.

Segment income is defined as net revenue less cost of revenue, segment selling, general and administrative expenses, segment research and development expenses and an allocation of corporate manufacturing expenses and selling, general and administrative expenses.

Segment income does not include amortization of intangibles, stock-based compensation expense and related charges, restructuring, severance and related charges, distressed customer charges, loss on disposal of subsidiaries, settlement of receivables and related charges, impairment of notes receivable and related charges, goodwill impairment charges, business interruption and impairment charges, net, gain from the divestiture of businesses, acquisition and divestiture related charges, loss on debt extinguishment, (gain) loss on securities, income (loss) from discontinued operations, gain (loss) on sale of discontinued operations, other expense (excluding certain components of net periodic benefit cost), interest expense, net, income tax expense, or adjustment for net income (loss) attributable to noncontrolling interests.

Segment income is defined as net revenue less segment expenses, which includes cost of revenue, segment selling, general and administrative expenses, segment research and development expenses and an allocation of corporate manufacturing expenses and selling, general and administrative expenses.

Segment income does not include amortization of intangibles, stock-based compensation expense and related charges, restructuring, severance and related charges, distressed customer charges, loss on disposal of subsidiaries, settlement of receivables and related charges, impairment of notes receivable and related charges, goodwill impairment charges, business interruption and impairment charges, net, (gain) loss from the divestiture of businesses, acquisition and divestiture related charges, loss on debt extinguishment, (gain) loss on securities, income (loss) from discontinued operations, gain (loss) on sale of discontinued operations, other expense (excluding certain components of net periodic benefit cost), interest expense,

net, income tax expense, or adjustment for net income (loss) attributable to noncontrolling interests.

Segment income margin is defined as segment income divided by net revenue.

Total segment assets are defined as accounts receivable, contract assets, inventories, net, customer-related property, plant and equipment, intangible assets net of accumulated amortization, and goodwill.

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Transactions between operating segments are generally recorded at amounts that approximate those at which we would transact with third parties.

The following table presents the Company’s revenues disaggregated by segment (in millions):

The following tables set forth operating segment information (in millions):

Fiscal Year Ended August 31,

2024 2023 2022

EMS DMS Total EMS DMS Total EMS DMS Total

Timing of transfer

August 31, 2025 August 31, 2024 August 31, 2023

Regulated Industries Intelligent infrastructure Connected Living and Digital Commerce Total Regulated Industries Intelligent infrastructure Connected Living and Digital Commerce Total Regulated Industries Intelligent infrastructure Connected Living and Digital Commerce Total

Point in time $ 477 $ 6,299 $ 1,727 $ 8,503 $ 553 $ 4,464 $ 3,393 $ 8,410 $ 419 $ 5,005 $ 6,123 $ 11,547

Over time 11,402 6,018 3,879 21,299 11,708 4,733 4,032 20,473 12,620 6,067 4,468 23,155

Total $ 13,805 $ 15,078 $ 28,883 $ 16,749 $ 17,953 $ 34,702 $ 16,737 $ 16,741 $ 33,478

The following tables set forth operating segment information (in millions):

Net revenue $ 11,879 $ 12,317 $ 5,606 $ 29,802 $ 12,261 $ 9,197 $ 7,425 $ 28,883 $ 13,039 $ 11,072 $ 10,591 $ 34,702

Segment expenses $ 11,236 $ 11,653 $ 5,293 $ 28,182 $ 11,606 $ 8,728 $ 6,961 $ 27,295 $ 12,392 $ 10,520 $ 10,057 $ 32,969

Segment income $ 643 $ 664 $ 313 $ 1,620 $ 655 $ 469 $ 464 $ 1,588 $ 647 $ 552 $ 534 $ 1,733

Segment income margin 5.4 % 5.4 % 5.6 % 5.4 % 5.3 % 5.1 % 6.2 % 5.5 % 5.0 % 5.0 % 5.0 % 5.0 %

Fiscal Year Ended August 31,

2025 2024 2023

Segment income and reconciliation of income before income tax

EMS $ 719 $ 837 $ 727

DMS 869 896 816

Total segment income $ 1,588 $ 1,733 $ 1,543

Segment income $ 1,620 $ 1,588 $ 1,733

Reconciling items:

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Business interruption and impairment charges, net (2)

Gain from the divestiture of businesses (3)

( 8 ) ( 16 ) —

(Loss) gain from the divestiture of businesses (3)

Acquisition and divestiture related charges ( 20 ) ( 70 ) —

Loss on debt extinguishment — — ( 4 )

Loss on securities (4)

Other expense (net of periodic benefit cost) ( 104 ) ( 95 ) ( 80 )

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Income before income tax $ 892 $ 1,751 $ 1,262

(1) Charges recorded during the fiscal year ended August 31, 2024, related to the 2024 Restructuring Plan.

(1) Charges recorded during the fiscal year ended August 31, 2025 and 2024, primarily related to the 2025 Restructuring Plan and 2024 Restructuring Plan, respectively.

Charges recorded during the fiscal year ended August 31, 2023, related to headcount reduction to further optimize the Company’s business activities.

(2) Charges recorded during the fiscal year August 31, 2024, related to costs associated with product quality liabilities, which is classified as a component of cost of revenue and selling, general and administrative expenses in the Consolidated Statements of Operations.

(3) The Company completed the divestiture of its Mobility Business and recorded a pre-tax gain of $ 942 million, subject to certain post-closing adjustments that are still being finalized.

The Company incurred $ 70 million of acquisition and

divestiture related charges during the fiscal year ended August 31, 2024, primarily related to the divestiture of its Mobility Business.

(2) Charges recorded during the fiscal year ended August 31, 2025, relate primarily to costs associated with damage from Hurricanes Helene and Milton, which impacted our operations in St.

Petersburg, Florida, and Asheville and Hendersonville, North Carolina.

Charges recorded during the fiscal year ended August 31, 2024, related to costs associated with product quality liabilities.

Charges recorded during the fiscal years ended August 31, 2025, and 2024, are classified as a component of cost of revenue and selling, general and administrative expenses in the Consolidated Statements of Operations.

(3) Charges recorded during the fiscal year ended August 31, 2025, relate primarily to a pre-tax loss of $ 97 million recognized for the divestiture of the Company’s operations in Italy.

The Company completed the divestiture of the

Mobility Business and recorded a pre-tax gain of $ 942 million during the fiscal year ended August 31, 2024.

Certain post-closing adjustments were realized in March 2025, which resulted in the recognition of a $ 54 million pre-tax gain during the fiscal year ended August 31, 2025.

(4) Charges recorded during the fiscal year ended August 31, 2025, relate to an impairment of an investment in Preferred Stock.

August 31, 2025 August 31, 2024

Total assets:

EMS $ 4,384 $ 4,859

DMS 6,387 6,802

Assets held for sale (1)

Regulated Industries $ 6,262 $ 5,855

Intelligent Infrastructure 3,739 2,624

Connected Living and Digital Commerce 2,199 2,297

Other non-allocated assets 6,343 6,575

Total $ 18,543 $ 17,351

(1) Assets held for sale as of August 31, 2023 were reported in the DMS operating segment.

The Company operates in more than 30 countries worldwide.

The Company operates in approximately 30 countries worldwide.

For geographical reporting, sales to unaffiliated customers are attributed to the Company location that maintains the customer relationship and transacts the external sale.

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4,196 635 4,810 736 5,868 865

Malaysia 3,644 358 * 352 * *

Singapore (1)

* * 4,486 * 7,385 *

Malaysia * 352 * * * *

8,829 1,170 8,668 1,074 10,431 1,338

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* Amount was less than 10% of total.

(1) Excludes long-lived assets of $ 836 million classified as held for sale as of August 31, 2023.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

(2) Decrease in net revenue for the fiscal year ended August 31, 2024, is driven by the divestiture of the Mobility Business.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

(1) Decrease in net revenue from prior periods is primarily driven by the divestiture of the Mobility Business during the fiscal year ended August 31, 2024.

(2) Increase in net revenue from prior periods is primarily driven by domestic revenue growth in our Intelligent Infrastructure segment during the fiscal year ended August 31, 2025.

Restructuring, Severance and Related Charges

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(1) Primarily relates to the 2025 Restructuring Plan.

(2) Primarily relates to the 2024 Restructuring Plan.

(3) Primarily relates to headcount reduction to further optimize the Company's business activities.

(3) Includes $ 76 million, $ 10 million and $ 1 million recorded in the EMS segment, $ 152 million, $ 35 million and $ 10 million recorded in the DMS segment and $ 68 million, $ 12 million and $ 7 million of non-allocated charges for the fiscal years ended August 31, 2024, 2023 and 2022, respectively.

(4) Except for asset write-off costs, all restructuring, severance and related charges are cash costs.

The following table presents the Company’s restructuring, severance, and related charges disaggregated by segment (in millions):

Fiscal Year Ended August 31,

2025 2024 2023

Total restructuring, severance and related charges:

Regulated Industries $ 80 $ 75 $ 11

Intelligent Infrastructure 34 69 10

Connected Living and Digital Commerce 21 84 24

Non-allocated charges 46 68 12

Total $ 181 $ 296 $ 57

See Note 14 – “Concentration of Risk and Segment Data” to the Consolidated Financial Statements for further details on the change in reportable segments.

2025 Restructuring Plan

On September 26, 2023, the Company’s Board of Directors approved a restructuring plan to (i) realign the Company’s cost base for stranded costs associated with the Company’s sale and realignment of its Mobility Business and (ii) optimize the Company’s global footprint.

This action includes headcount reductions across our Selling, General and Administrative (“SG&A”) cost base and capacity realignment (the “2024 Restructuring Plan”).

The 2024 Restructuring Plan, totaling approximately $ 300 million in pre-tax restructuring and other related costs, is substantially complete as of August 31, 2024.

On September 24, 2024, the Company’s Board of Directors approved a restructuring plan to align our support infrastructure to further optimize organizational effectiveness.

This action includes headcount reductions across our Selling, General, and Administrative (“SG&A”) and manufacturing cost base and capacity realignment (the “2025 Restructuring Plan”).

The 2025 Restructuring Plan reflects the Company’s intention only and restructuring decisions, and the timing of such decisions, at certain locations are still subject to consultation with the Company’s employees and their representatives.

The Company expects to recognize approximately $ 200 million in pre-tax restructuring and other related costs related to the 2025 Restructuring Plan.

The restructuring and other related charges are expected to include $ 60 million to $ 70 million of employee severance and benefit costs;

$ 65 million to $ 70 million of asset write-off costs;

and $ 55 million to $ 65 million of contract termination costs and other related costs.

The amount and timing of the actual charges may vary due to a variety of factors, including the finalization of timetables for the transition of functions, consultation with employees and their representatives, as well as the impact of jurisdictional statutory severance requirements.

The Company’s estimates for the charges discussed above exclude any potential income tax effects.

The table below summarizes the Company’s liability activity, primarily associated with the 2025 Restructuring Plan (in millions):

Employee Severance

and Benefit Costs Lease Costs Asset Write-off Costs Other Related Costs Total

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2024 Restructuring Plan

On September 24, 2024, the Company’s Board of Directors approved a restructuring plan to align our support infrastructure to further optimize organizational effectiveness.

This action includes headcount reductions across our SG&A and manufacturing cost base and capacity realignment (the “2025 Restructuring Plan”).

The Company currently expects to recognize approximately $ 150 million to $ 200 million in pre-tax restructuring and other related costs over the course of the Company’s 2025 fiscal year.

The charges relating to the 2025 Restructuring Plan are currently expected to result in net cash expenditures of approximately $ 100 million to $ 130 million that will be payable over the course of the Company’s fiscal years 2025 and 2026.

The exact timing of these charges and cash outflows, as well as the estimated cost ranges by category type, have not been finalized.

This information will be subject to the finalization of timetables for the transition of functions, consultation with employees and their representatives as well as the statutory severance requirements of the jurisdictions impacted, and the amount and timing of the actual charges may vary due to a variety of factors.

The Company’s estimates for the charges discussed above exclude any potential income tax effects.

On September 26, 2023, the Company’s Board of Directors approved a restructuring plan to (i) realign the Company’s cost base for stranded costs associated with the Company’s sale and realignment of the Mobility Business and (ii) optimize the Company’s global footprint.

This action includes headcount reductions across our SG&A cost base and capacity realignment (the “2024 Restructuring Plan”).

The 2024 Restructuring Plan, totaling approximately $ 300 million in pre-tax restructuring and other related costs, was substantially complete as of August 31, 2024.

The table below summarizes the Company’s liability activity, primarily associated with the 2024 Restructuring Plan (in millions):

and Benefit Costs Lease Costs Asset Write-off Costs Other Related Costs Total

Balance as of August 31, 2024

$ 66 $ 1 $ — $ 5 $ 72

Restructuring related charges ( 3 ) — 10 6 13

Asset write-off charge and other non-cash activity — — ( 10 ) ( 2 ) ( 12 )

Cash payments ( 54 ) ( 1 ) — ( 7 ) ( 62 )

Balance as of August 31, 2025

$ 9 $ — $ — $ 2 $ 11

Provision for Income Taxes

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Domestic – federal

$ ( 16 ) $ — $ 1

Domestic – state

2 unchanged sentences

Domestic – federal

( 15 ) 12 ( 2 )

Domestic – state

( 5 ) ( 2 ) 4

( 100 ) ( 94 ) 89

Total deferred ( 120 ) ( 84 ) 91

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Valuation allowance (2)

3.5 1.1 ( 3.3 )

Equity compensation 1.1 ( 0.4 ) 0.5

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Change in indefinite reinvestment assertion (3)

Divestiture of the Mobility Business ( 5.9 ) — —

Divestiture of businesses (4)

2.3 ( 5.9 ) —

Other, net 0.8 1.3 0.3

Effective income tax rate 26.4 % 20.7 % 35.2 %

(1) The Company has been granted tax incentives for various subsidiaries in China, Malaysia, Singapore, Vietnam, Brazil, and Israel, which primarily expire at various dates through fiscal year 2030 and are subject to certain conditions with which the Company expects to comply.

These tax incentives resulted in a tax benefit of approximately $ 54 million ($ 0.44 per basic weighted average shares outstanding), $ 74 million ($ 0.56 per basic weighted average shares outstanding) and $ 80 million ($ 0.57 per basic weighted average shares outstanding) during the fiscal years ended August 31, 2024, 2023, and 2022, respectively.

(2) For the fiscal year ended August 31, 2024, the valuation allowance change was primarily due to the change in deferred tax assets for sites with existing valuation allowances and an income tax expense of $ 27 million for an increase in the U.S.

valuation allowance on deferred tax assets previously recognized.

This impact was partially offset by a $ 20 million decrease in deferred tax assets with a corresponding valuation allowance due to a non-U.S.

unrecognized tax benefit.

For the fiscal year ended August 2022, the valuation allowance change was primarily due to an income tax benefit of $ 26 million for the reversal of a portion of the U.S.

valuation allowance and decreased deferred tax assets with corresponding valuation allowances due to the liquidation of certain non-U.S.

subsidiaries.

(1) The Company has been granted tax incentives for various subsidiaries in Malaysia, Singapore, Vietnam, Brazil, and Israel, which primarily expire at various dates through fiscal year 2030 and are subject to certain conditions with which the Company expects to comply.

Tax incentives resulted in a tax benefit of approximately $ 75 million ($ 0.68 per basic weighted average shares outstanding), $ 54 million ($ 0.44 per basic weighted average shares outstanding) and $ 74 million ($ 0.56 per basic weighted average shares outstanding) during the fiscal years ended August 31, 2025, 2024, and 2023, respectively.

(2) For the fiscal year ended August 31, 2025, the valuation allowance change was primarily due to the change in deferred tax assets for sites with existing valuation allowances.

(3) As a result of certain operations being classified as held for sale, the Company made a change to its indefinite reinvestment assertions for the fiscal year ended August 31, 2023.

(4) For the fiscal year ended August 31, 2025, the divestiture of businesses is primarily related to the divestiture of the Italy operations.

For the fiscal year ended August 31, 2024, the divestiture of businesses was related to the sale of the Mobility Business.

Deferred Tax Assets and Liabilities

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Net operating loss carryforwards $ 227 $ 183

Receivables 5 4

Inventories 28 18

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Total deferred tax liabilities $ 182 $ 221

Net deferred tax liabilities $ ( 47 ) $ ( 109 )

(1) Excludes $ 96 million classified as held for sale.

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

Net deferred tax assets (liabilities) $ 61 $ ( 47 )

Based on the Company’s historical operating income, projection of future taxable income, scheduled reversal of taxable temporary differences, and tax planning strategies, management believes it is more likely than not that the Company will realize the benefit of its deferred tax assets, net of valuation allowances recorded.

The Company’s assessment that led to the $ 27 million change in the U.S.

valuation allowance on deferred tax assets previously recognized considered all available positive and negative evidence including, among other evidence, the impact of historical operating results and the impact of projected future taxable income upon application of the incremental cash tax savings approach for Global Intangible Low-Taxed Income.

As of August 31, 2025, the Company intends to indefinitely reinvest the remaining earnings from its foreign subsidiaries for which a deferred tax liability has not already been recorded.

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Income tax net operating loss carryforwards:

Domestic - state 2044 or indefinite $ 56

Domestic - federal 2037 or indefinite $ 169

Domestic – state

2045 or indefinite $ 60

Foreign 2035 or indefinite $ 680

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Domestic – federal

Domestic - state 2038 or indefinite $ 4

Domestic – state

2039 or indefinite $ 4

Tax capital loss carryforwards:

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Additions for tax positions related to current year (1)

Additions related to acquired entities 5 — —

Divestiture of businesses — ( 49 ) —

Reductions from lapses in statutes of limitations (2)

( 36 ) ( 2 ) ( 8 )

Settlements (3)

( 13 ) ( 58 ) ( 5 )

Foreign exchange rate adjustment — — ( 10 )

Ending balance $ 142 $ 168 $ 257

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(1) The additions for the fiscal years ended August 31, 2025, 2024 and 2023 are primarily related to taxation of certain intercompany transactions.

(2) The reductions from lapses in statutes of limitations for the fiscal year ended August 31, 2025, are primarily related to intercompany transactions and entitlement to tax credits.

(3) Settlements for the fiscal year ended August 31, 2024, primarily relates to the settlement of a U.S.

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The Company’s accrued interest and penalties were approximately $ 24 million and $ 17 million as of August 31, 2025, and 2024, respectively.

The Company recognized a benefit from the net release of interest and penalties of $ 14 million during the fiscal year ended August 31, 2024.

The Company recognized interest and penalties of approximately $ 3 million and $ 0 million during the fiscal years ended August 31, 2023, and 2022, respectively.

The Company recognized interest and penalties of approximately $ 2 million, ($ 14 million) and $ 3 million during the fiscal years ended August 31, 2025, 2024, and 2023, respectively.

It is reasonably possible that the August 31, 2025, unrecognized tax benefits could decrease during the next 12 months by $ 16 million, primarily related to lapses in statutes of limitations associated with intercompany transactions.

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Business Acquisitions and Divestitures

Fiscal Year 2026

On September 1, 2025, the Company completed the acquisition of Rebound Technologies Group Holdings Limited (“Rebound Technologies”) for cash consideration transferred of $ 134 million.

Rebound Technologies is a global supply chain service provider headquartered in the United Kingdom offering end-to-end solutions including global sourcing, data driven analytics, proactive shortage management and obsolescence strategies.

The final purchase price is subject to adjustment based on conditions within the purchase agreement.

Fiscal Year 2025

On February 3, 2025, the Company completed the acquisition of Pharmaceutics International, Inc.

(“Pii”) for cash consideration transferred of $ 309 million.

The final purchase price is subject to adjustment based on certain customary conditions as outlined in the purchase agreement.

Pii is a contract development and manufacturing organization specializing in early stage, clinical, and commercial volume aseptic filling, lyophilization, and oral solid dose manufacturing.

The acquisition is expected to enhance the Company’s existing Regulated Industries service offerings, which includes the development and commercial production of auto-injectors, pen injectors, inhalers, and on-body pumps.

The acquisition of Pii was accounted for as a business combination using the acquisition method of accounting.

Assets acquired of $ 357 million, including $ 149 million in intangible assets and $ 142 million in goodwill, and liabilities assumed of $ 48 million were recorded at their estimated fair values as of the acquisition date.

The preliminary estimates and measurements are subject to change during the measurement period for assets acquired, liabilities assumed, and tax adjustments.

The excess of the purchase price over the fair value of the acquired assets and assumed liabilities was recorded to goodwill and was fully allocated to the Regulated Industries segment.

Goodwill is primarily attributable to expected synergies enabling comprehensive support for customers in drug development, clinical trials, and product commercialization at scale.

The majority of the goodwill is currently not expected to be deductible for income tax purposes.

The results of operations were included in the Company’s consolidated financial results beginning on February 3, 2025.

Pro forma information has not been provided as the acquisition of Pii is not deemed to be significant.

On October 1, 2024, the Company completed the acquisition of Mikros Technologies LLC (“Mikros Technologies”) for consideration transferred of $ 63 million.

Mikros Technologies is a leader in the engineering and manufacturing of liquid cooling solutions for thermal management.

The final purchase price is subject to adjustment based on certain customary conditions as outlined in the purchase agreement.

The acquisition of Mikros Technologies was accounted for as a business combination using the acquisition method of accounting.

Assets acquired of $ 63 million, including $ 40 million in intangible assets and $ 17 million in goodwill, were recorded at their estimated fair values as of the acquisition date.

The preliminary estimates and measurements are subject to change during the measurement period for assets acquired, liabilities assumed, and tax adjustments.

The excess of the purchase price over the fair value of the acquired assets and assumed liabilities was recorded to goodwill and was fully allocated to the Intelligent Infrastructure segment.

The majority of the goodwill is currently expected to be deductible for income tax purposes.

The results of operations were included in the Company’s consolidated financial results beginning on October 1, 2024.

Pro forma information has not been provided as the acquisition of Mikros Technologies is not deemed to be significant.

Fiscal Year 2024

On November 1, 2023, the Company completed the acquisition of ProcureAbility Inc.

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Assets acquired of $ 87 million, including $ 40 million in intangible assets and $ 38 million in goodwill, and liabilities assumed of $ 26 million were recorded at their estimated fair values as of the acquisition date.

The preliminary estimates and measurements are subject to change during the measurement period for assets acquired, liabilities assumed and tax adjustments.

The excess of the purchase price over the fair value of the acquired assets and assumed liabilities was recorded to goodwill and was fully allocated to the DMS segment.

The excess of the purchase price over the fair value of the acquired assets and assumed liabilities was recorded to goodwill and was fully allocated to the Regulated Industries segment.

The majority of the goodwill is currently not expected to be deductible for income tax purposes.

The results of operations were included in the Company’s condensed consolidated financial results beginning on November 1, 2023.

The results of operations were included in the Company’s consolidated financial results beginning on November 1, 2023.

Pro forma information has not been provided as the acquisition of ProcureAbility is not deemed to be significant.

On October 1, 2024, the Company completed the acquisition of Mikros Technologies LLC for consideration transferred of $ 62 million.

Mikros Technologies LLC is a leader in the engineering and manufacturing of liquid cooling solutions for thermal management.

The final purchase price is subject to adjustment based on conditions within the purchase agreement.

Fiscal Year 2025

On August 1, 2025, through its indirect subsidiary, Jabil Circuit Italia S.r.l.

(“JCI”), the Company divested its operations in Italy.

As a result of the transaction, the Company derecognized net assets of approximately $ 36 million and recorded a pre-tax loss of $ 97 million during the fiscal year ended August 31, 2025, subject to post-closing adjustments that are still being finalized.

As part of the terms of the agreement, the Company also paid cash consideration of $ 63 million to the buyer.

The operating results of this business were immaterial to the Company's consolidated results of operations.

Fiscal Year 2024

The Company announced on September 26, 2023, that, through its indirect subsidiary, Jabil Circuit (Singapore) Pte.

Ltd., a Singapore private limited company (“Singapore Seller”), it agreed to sell the Mobility Business to an affiliate of BYDE for cash consideration of approximately $ 2.2 billion, subject to certain customary purchase price adjustments.

Ltd., a Singapore private limited company (“Singapore Seller”), we agreed to sell to an affiliate of BYD Electronic (International) Co.

Ltd., a Hong Kong limited liability company (“Purchaser” or “BYDE”), the Singapore Seller’s product manufacturing business in Chengdu, including its supporting component manufacturing in Wuxi, (the “Mobility Business”), for cash consideration of approximately $ 2.2 billion, subject to certain customary purchase price adjustments.

As of August 31, 2023, the Company determined the Mobility Business met the criteria to be classified as held for sale.

Accordingly, the Company presented the assets and liabilities of the Mobility Business as held for sale in the Condensed Consolidated Balance Sheets as of August 31, 2023.

Assets and liabilities classified as held for sale had a carrying value less than the estimated fair value less cost to sell and, thus, no adjustment to the carrying value of the disposal group was necessary.

Depreciation and amortization expense for long-lived assets was not recorded for the period in which these assets were classified as held for sale.

The divestiture did not meet the criteria to be reported as discontinued operations, and the Company continued to report the operating results for the Mobility Business in the Company’s Condensed Consolidated Statement of Operations in the DMS segment until the Closing Date (defined below).

Following is a summary of the carrying amounts of the major classes of assets and liabilities that were classified as held for sale as of August 31, 2023 (in millions):

August 31, 2023

Assets held for sale:

Accounts receivable, net of allowance for credit losses $ 96

Inventories, net of reserve for excess and obsolete inventory 559

Prepaid expenses and other current assets 220

Property, plant and equipment, net of accumulated depreciation 724

Operating lease right-of-use assets 112

Deferred income taxes 96

Liabilities held for sale:

Accounts payable $ 876

Accrued expenses 364

Non-current operating lease liabilities 83

On December 29, 2023 (the “Closing Date”), the Company completed the sale of the Mobility Business.

As a result of the transaction, the Company derecognized net assets of approximately $ 1.2 billion, and recorded a pre-tax gain of $ 942 million, subject to certain post-closing adjustments that are still being finalized.

The divestiture did not meet the criteria to be reported as discontinued operations, and the Company continued to report the operating results for the Mobility Business in the Company’s Consolidated Statement of Operations in the DMS segment until December 29, 2023 (the “Closing Date”).

On the Closing Date, the Company completed the sale of the Mobility Business.

As a result of the transaction, the Company derecognized net assets of approximately $ 1.2 billion, and recorded a pre-tax gain of $ 942 million in the fiscal year ended August 31, 2024.

Certain post-closing adjustments were realized in March 2025, which resulted in the recognition of a $ 54 million pre-tax gain during the fiscal year ended August 31, 2025.

In addition, the Company agreed to indemnify BYDE from certain liabilities that may arise post-close that relate to periods prior to the Closing Date.

The Company incurred transaction and disposal costs in connection with the sale of approximately $ 67 million during the fiscal year ended August 31, 2024, which are included in continuing operations in the Company’s Consolidated Statements of Operations.

The Company performs a goodwill impairment analysis on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable.

In connection with the preparation of the Company’s financial statements for the quarter ended February 29, 2024, the Company completed an impairment analysis for goodwill recorded within the reporting unit impacted by the divestiture of the Mobility Business.

The quantitative assessment was used, and the Company determined that the fair value of the impacted reporting unit exceeded the carrying value and that no impairment existed immediately prior to or subsequent to divesting the Mobility Business.

The Company allocated goodwill to the disposal group based on the relative fair value of the Mobility Business as compared to the impacted reporting unit.

In the second quarter of fiscal year 2024 and in connection with the divestiture of the Mobility Business, the Company made a strategic decision that the indefinite-lived (“Green Point”) trade name valued at $ 51 million acquired during the acquisition of Green Point should no longer be classified as an indefinite-lived intangible asset.

Accordingly, prior to reclassifying the trade name to a finite-lived intangible asset, the Company completed a quantitative assessment for impairment and determined the fair value of the asset exceeded the carrying value.

The trade name was assigned a two-year estimated useful life and is being amortized on a straight-line basis as of the Closing Date.

Fair Value Measurements

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Derivatives designated as hedging instruments (Note 11)

Forward interest rate swaps:

Derivatives designated as hedging instruments (Note 11)

Other liabilities:

1 unchanged sentence

Derivatives designated as hedging instruments (Note 11)

(1) Consist of time deposits that are readily convertible to cash with original maturities of 90 days or less.

(1) Consist of investments that are readily convertible to cash with original maturities of 90 days or less.

(2) The Company’s forward foreign exchange contracts, including cash flow hedges and net investment hedges are measured on a recurring basis at fair value, based on foreign currency spot rates and forward rates quoted by banks or foreign currency dealers.

(3) Fair value measurements are based on the contractual terms of the derivatives and use observable market-based inputs.

The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads.

Fair Value of Financial Instruments

28 unchanged sentences

Recently issued accounting guidance is not applicable or did not have, or is not expected to have, a material impact to the Company.

Related Party Transactions

During the three months ended May 31, 2025, James Siminoff, a member of the Company’s Board of Directors since January 2024, returned to Amazon.com, Inc (“Amazon”) as a Vice President overseeing Amazon’s home security business.

During fiscal year 2025, the Company provided manufacturing services to Amazon’s home security business.

Transactions between the Company and Amazon for businesses under Mr.

Siminoff’s oversight are considered related party transactions.

These related party transactions were not material to the Company individually or in the aggregate and no disclosure is required with respect to such transactions for the fiscal year ended August 31, 2025.

Form 10-K Summary

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/s/ M ICHAEL D ASTOOR

Chief Executive Officer and Director

Chief Executive Officer

(Principal Executive Officer) October 17, 2025

2 unchanged sentences

Chief Financial Officer

(Principal Executive Officer) October 28, 2024

(Principal Financial and Accounting Officer) October 17, 2025

/s/ A NOUSHEH A NSARI

1 unchanged sentence

Anousheh Ansari

/s/ S UJATHA C HANDRASEKARAN

Director October 17, 2025

Sujatha Chandrasekaran

/s/ C HRISTOPHER S .

4 unchanged sentences

Director October 17, 2025

/s/ D AVID M.

Director October 17, 2025

Director October 28, 2024

/s/ K ATHLEEN A.

25 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures