JABIL INC 10-Q

Item 1. Financial Statements JABIL INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except for share data) February 28, 2026 (Unaudited) August 31, 2025 ASSETS Current assets: Cash and cash equivalents $ 1,830 $ 1,933 Accounts receivable, net of allowance for credit losses 4,390 4,039 Contract assets 1,270 1,057 Inventories, net of reserve for excess and obsolete inventory 4,972 4,681 Prepaid expenses and other current assets 2,547 2,010 Total current assets 15,009 13,720 Property, plant and equipment, net of accumulated depreciation of $ 5,071 as of February 28, 2026, and $ 4,970 as of August 31, 2025 2,840 2,847 Operating lease right-of-use assets 487 462 Goodwill 1,229 841 Intangible assets, net of accumulated amortization 648 273 Deferred income taxes 147 141 Other assets 268 259 Total assets $ 20,628 $ 18,543 LIABILITIES AND EQUITY Current liabilities: Current installments of notes payable and long-term debt $ 500 $ 499 Accounts payable 8,517 7,937 Accrued expenses 5,695 5,185 Current operating lease liabilities 99 93 Total current liabilities 14,811 13,714 Notes payable and long-term debt, less current installments 3,376 2,386 Other liabilities 405 345 Non-current operating lease liabilities 414 388 Income tax liabilities 131 113 Deferred income taxes 142 80 Total liabilities 19,279 17,026 Commitments and contingencies Equity: Jabil Inc. stockholders’ equity: Preferred stock, $ 0.001 par value, authorized 10,000,000 shares; no shares issued and no shares outstanding — — Common stock, $ 0.001 par value, authorized 500,000,000 shares; 279,404,569 and 278,092,060 shares issued and 105,818,234 and 107,480,895 shares outstanding as of February 28, 2026 and August 31, 2025, respectively — — Additional paid-in capital 3,149 3,047 Retained earnings 6,733 6,382 Accumulated other comprehensive loss — ( 17 ) Treasury stock at cost, 173,586,335 and 170,611,165 shares as of February 28, 2026 and August 31, 2025, respectively ( 8,538 ) ( 7,899 ) Total Jabil Inc. stockholders’ equity 1,344 1,513 Noncontrolling interests 5 4 Total equity 1,349 1,517 Total liabilities and equity $ 20,628 $ 18,543 See accompanying notes to Condensed Consolidated Financial Statements. 1 Table of Contents JABIL INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except for per share data) (Unaudited) Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Net revenue $ 8,282 $ 6,728 $ 16,587 $ 13,722 Cost of revenue 7,536 6,152 15,099 12,540 Gross profit 746 576 1,488 1,182 Operating expenses: Selling, general and administrative 329 256 673 561 Research and development 7 7 14 15 Amortization of intangibles 23 15 42 28 Restructuring, severance and related charges 5 45 81 128 Loss from the divestiture of businesses 2 — — — Acquisition and divestiture related charges 6 8 21 8 Operating income 374 245 657 442 Other expense 31 24 60 44 Interest expense, net 43 37 77 75 Income before income tax 300 184 520 323 Income tax expense 78 67 152 106 Net income 222 117 368 217 Net loss attributable to noncontrolling interests, net of tax ( 1 ) — ( 1 ) — Net income attributable to Jabil Inc. $ 223 $ 117 $ 369 $ 217 Earnings per share attributable to the stockholders of Jabil Inc.: Basic $ 2.10 $ 1.07 $ 3.46 $ 1.95 Diluted $ 2.08 $ 1.06 $ 3.43 $ 1.93 Weighted average shares outstanding: Basic 106.0 110.0 106.5 111.3 Diluted 106.9 111.1 107.6 112.6 See accompanying notes to Condensed Consolidated Financial Statements. 2 Table of Contents JABIL INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in millions) (Unaudited) Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Net income $ 222 $ 117 $ 368 $ 217 Other comprehensive income (loss), net of tax: Change in foreign currency translation 4 ( 3 ) — ( 6 ) Change in derivative instruments 17 11 15 7 Actuarial loss — ( 1 ) — ( 1 ) Prior service credit 1 1 2 2 Total other comprehensive income 22 8 17 2 Comprehensive income $ 244 $ 125 $ 385 $ 219 Comprehensive loss attributable to noncontrolling interests ( 1 ) — ( 1 ) — Comprehensive income attributable to Jabil Inc. $ 245 $ 125 $ 386 $ 219 See accompanying notes to Condensed Consolidated Financial Statements. 3 Table of Contents JABIL INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (in millions) (Unaudited) Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Total stockholders' equity, beginning balances $ 1,347 $ 1,593 $ 1,517 $ 1,737 Common stock: — — — — Additional paid-in capital: Beginning balances 3,108 3,002 3,047 2,841 Shares issued under employee stock purchase plan 39 33 39 33 Disposition of noncontrolling interest — — — 2 Treasury shares purchased ( 25 ) ( 46 ) ( 29 ) 69 Recognition of stock-based compensation 25 18 88 62 Reclassification of liability award — 4 — 4 Provision for common stock warrant 2 1 4 1 Ending balances 3,149 3,012 3,149 3,012 Retained earnings: Beginning balances 6,519 5,851 6,382 5,760 Declared dividends ( 9 ) ( 8 ) ( 18 ) ( 17 ) Net income attributable to Jabil Inc. 223 117 369 217 Ending balances 6,733 5,960 6,733 5,960 Accumulated other comprehensive loss: Beginning balances ( 22 ) ( 52 ) ( 17 ) ( 46 ) Total other comprehensive income 22 8 17 2 Ending balances — ( 44 ) — ( 44 ) Treasury stock: Beginning balances ( 8,261 ) ( 7,208 ) ( 7,899 ) ( 6,818 ) Purchases of treasury stock under employee stock plans — ( 1 ) ( 65 ) ( 41 ) Treasury shares purchased ( 275 ) ( 358 ) ( 571 ) ( 705 ) Excise taxes related to treasury shares purchased ( 2 ) ( 3 ) ( 3 ) ( 6 ) Ending balances ( 8,538 ) ( 7,570 ) ( 8,538 ) ( 7,570 ) Noncontrolling interests: Beginning balances 3 — 4 — Net loss attributable to noncontrolling interests ( 1 ) — ( 1 ) — Other noncontrolling interest activity 1 — — — Capital contribution of noncontrolling interest 2 — 2 — Ending balances 5 — 5 — Total stockholders' equity, ending balances $ 1,349 $ 1,358 $ 1,349 $ 1,358 See accompanying notes to Condensed Consolidated Financial Statements. 4 Table of Contents JABIL INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) (Unaudited) Six months ended February 28, 2026 February 28, 2025 Cash flows provided by operating activities: Net income $ 368 $ 217 Depreciation, amortization, and other, net 449 373 Change in operating assets and liabilities, exclusive of net assets acquired ( 83 ) 56 Net cash provided by operating activities 734 646 Cash flows used in investing activities: Acquisition of property, plant and equipment ( 198 ) ( 213 ) Proceeds and advances from sale of property, plant and equipment 96 54 Cash paid for business and intangible asset acquisitions, net of cash ( 848 ) ( 361 ) Other, net ( 13 ) 17 Net cash used in investing activities ( 963 ) ( 503 ) Cash flows provided by (used in) financing activities: Borrowings under debt agreements 1,678 334 Payments toward debt agreements ( 897 ) ( 414 ) Payments to acquire treasury stock ( 600 ) ( 636 ) Dividends paid to stockholders ( 18 ) ( 19 ) Net proceeds from exercise of stock options and issuance of common stock under employee stock purchase plan 39 33 Treasury stock minimum tax withholding related to vesting of restricted stock ( 65 ) ( 41 ) Other, net ( 17 ) ( 3 ) Net cash provided by (used in) financing activities 120 ( 746 ) Effect of exchange rate changes on cash and cash equivalents 6 ( 6 ) Net decrease in cash and cash equivalents ( 103 ) ( 609 ) Cash and cash equivalents at beginning of period 1,933 2,201 Cash and cash equivalents at end of period $ 1,830 $ 1,592 See accompanying notes to Condensed Consolidated Financial Statements. 5 Table of Contents JABIL INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary to present fairly the information set forth therein have been included. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and footnotes included in the Annual Report on Form 10-K of Jabil Inc. (the “Company”) for the fiscal year ended August 31, 2025. Results for the six months ended February 28, 2026, are not necessarily an indication of the results that may be expected for the full fiscal year ending August 31, 2026. 2. Trade Accounts Receivable Sale Programs The Company regularly sells designated pools of high credit quality trade accounts receivable under uncommitted trade accounts receivable sale programs to unaffiliated financial institutions without recourse. 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 each of the trade accounts receivable sale programs. The Company does not record a servicing asset or liability on the Condensed 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. 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 $ 682 million and $ 927 million as of February 28, 2026, and August 31, 2025, 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 Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed 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) A $ 350 B $ 100 C 1,900 CNY D $ 230 E $ 170 F $ 75 G $ 250 H $ 2,000 I $ 250 J $ 250 K $ 200 (1) Maximum amount of trade accounts receivable that may be sold under a facility at any one time. (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. 6 Table of Contents In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions): Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Trade accounts receivable sold $ 4,750 $ 2,027 $ 8,499 $ 3,713 Cash proceeds received $ 4,730 $ 2,016 $ 8,462 $ 3,692 Pre-tax losses on sale of receivables (1) $ 20 $ 11 $ 37 $ 21 (1) Recorded to other expense within the Condensed Consolidated Statements of Operations. 3. Inventories Inventories consist of the following (in millions): February 28, 2026 August 31, 2025 Raw materials $ 4,154 $ 3,905 Work in process 306 335 Finished goods 584 508 Reserve for excess and obsolete inventory ( 72 ) ( 67 ) Inventories, net $ 4,972 $ 4,681 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 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 February 28, 2026, and August 31, 2025, the Company had $ 1.5 billion and $ 1.1 billion, respectively, of components included in prepaid expenses and other current assets in the Company’s Condensed 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. 4. Leases During fiscal year 2026, the Company entered into new operating and finance leases. The future minimum lease payments under these new leases as of February 28, 2026, were as follows (in millions): Payments due by period Total Less than 1 year 1-3 years 3-5 years After 5 years Operating lease obligations (1)(2) $ 77 $ 14 $ 26 $ 24 $ 13 Finance lease obligations (1)(2) $ 48 $ 2 $ 40 $ 6 $ — (1) Excludes $ 80 million of residual value guarantees that could potentially come due in future periods. The Company does not believe it is probable that any amounts will be owed under these guarantees. Therefore, no amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities. (2) Excludes $ 157 million of payments related to leases signed but not yet commenced. Additionally, certain leases signed but not yet commenced contain residual value guarantees and purchase options not deemed probable. 7 Table of Contents 5. Goodwill and Other Intangible Assets The following table presents the changes in goodwill allocated to the Company’s reportable segments during the six months ended February 28, 2026 (in millions): Regulated Industries Intelligent Infrastructure Connected Living and Digital Commerce Total Balance as of August 31, 2025 $ 673 $ 76 $ 92 $ 841 Acquisitions and adjustments (1) — 383 — 383 Change in foreign currency exchange rates 5 — — 5 Balance as of February 28, 2026 $ 678 $ 459 $ 92 $ 1,229 (1) In connection with the acquisitions of Hanley Energy Group (“Hanley”) and Rebound Technologies Group Holdings Limited (“Rebound Technologies”) during the fiscal year 2026. See Note 15 – “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): February 28, 2026 August 31, 2025 Gross Carrying Amount Accumulated Impairment Gross Carrying Amount Accumulated Impairment Goodwill $ 2,249 $ 1,020 $ 1,861 $ 1,020 The following table presents the Company’s total purchased intangible assets as of the periods indicated (in millions): Weighted Average Amortization Period (in years) February 28, 2026 (1) August 31, 2025 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Contractual agreements and customer relationships 11 $ 750 $ ( 312 ) $ 438 $ 494 $ ( 292 ) $ 202 Intellectual property 7 347 ( 191 ) 156 240 ( 182 ) 58 Finite-lived trade names 6 186 ( 132 ) 54 132 ( 119 ) 13 Total intangible assets 10 $ 1,283 $ ( 635 ) $ 648 $ 866 $ ( 593 ) $ 273 (1) In connection with the acquisition of Hanley, the Company acquired $ 366 million of identifiable intangible assets, including $ 235 million assigned to contractual agreements and customer relationships, $ 86 million assigned to intellectual property and $ 46 million assigned to finite-lived trade names. In connection with the acquisition of Rebound Technologies, the Company acquired $ 48 million of identifiable intangible assets. See Note 15 – “Business Acquisitions and Divestitures” for additional information. Intangible asset amortization during the three months and six months ended February 28, 2026 was approximately $ 23 million and $ 42 million, respectively. Intangible asset amortization during the three months and six months ended February 28, 2025 was approximately $ 15 million and $ 28 million, respectively. The estimated future amortization expense is as follows (in millions): Fiscal Year Ended August 31, 2026 $ 48 2027 94 2028 88 2029 79 2030 77 Thereafter 262 Total $ 648 8 Table of Contents 6. Notes Payable and Long-Term Debt Notes payable and long-term debt outstanding as of February 28, 2026, and August 31, 2025, are summarized below (in millions): Maturity Date February 28, 2026 August 31, 2025 3.950 % Senior Notes Jan 12, 2028 $ 499 $ 499 3.600 % Senior Notes Jan 15, 2030 498 498 3.000 % Senior Notes Jan 15, 2031 595 595 1.700 % Senior Notes (1) Apr 15, 2026 500 499 4.250 % Senior Notes May 15, 2027 498 497 5.450 % Senior Notes Feb 1, 2029 298 297 4.200 % Senior Notes (1) Feb 1, 2029 497 — 4.750 % Senior Notes (1) Feb 1, 2033 491 — Borrowings under credit facilities (2) Jun 18, 2030 — — Total notes payable and long-term debt 3,876 2,885 Less current installments of notes payable and long-term debt 500 499 Notes payable and long-term debt, less current installments $ 3,376 $ 2,386 (1) On January 23, 2026, the Company issued $ 500 million aggregate principal amount of 4.200 % Senior Notes due 2029 (the “ 4.200 % Senior Notes”) and $ 500 million aggregate principal amount of 4.750 % Senior Notes due 2033 (the “ 4.750 % Senior Notes”) in an underwritten public offering. The Company intends to use the net proceeds for general corporate purposes, including the repayment of the $ 500 million aggregate principal amount of 1.700 % Senior Notes due in April 2026. (2) As of February 28, 2026, the Company had $ 4.2 billion in available unused borrowing capacity under its revolving credit facilities, of which $ 3.2 billion was available under the senior unsecured credit agreement dated June 18, 2025 (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. Debt Covenants Borrowings under the Company’s debt agreements are subject to various covenants that limit the Company’s ability to: incur additional indebtedness, sell assets, effect mergers and certain transactions, and effect certain transactions with subsidiaries and affiliates. In addition, the revolving credit facilities contain debt leverage and interest coverage covenants. The Company is also subject to certain covenants requiring the Company to offer to repurchase the 3.950 %, 3.600 %, 3.000 %, 1.700 %, 4.250 %, 5.450 %, 4.200 % or 4.750 % Senior Notes upon a change of control. As of February 28, 2026, and August 31, 2025, the Company was in compliance with its debt covenants. Fair Value Refer to Note 16 – “Fair Value Measurements” for the estimated fair values of the Company’s notes payable and long-term debt. 7. 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, a 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. 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. 9 Table of Contents 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 entity. The Company does not record a servicing asset or liability on the Condensed 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. The special purpose entity in the global asset-backed securitization program is a wholly owned subsidiary of the Company and is included in the Company’s Condensed Consolidated Financial Statements. 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 February 28, 2026. The global asset-backed securitization program expires in January 2028 and 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 $ 411 million and $ 372 million as of February 28, 2026, and August 31, 2025, 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 Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows. In connection with the asset-backed securitization program, the Company recognized the following (in millions): Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Trade accounts receivable sold $ 1,078 $ 980 $ 2,136 $ 2,047 Cash proceeds received (1) $ 1,070 $ 970 $ 2,118 $ 2,025 Pre-tax losses on sale of receivables (2) $ 8 $ 10 $ 18 $ 22 (1) The amounts primarily represent proceeds from collections reinvested in revolving-period transfers. (2) Recorded to other expense within the Condensed 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 Revolving Credit Facility. As of February 28, 2026, and August 31, 2025, the Company was in compliance with all covenants under the global asset-backed securitization program. 8. Accrued Expenses Accrued expenses consist of the following (in millions): February 28, 2026 August 31, 2025 Inventory deposits $ 1,212 $ 1,205 Contract liabilities (1) 1,040 1,016 Accrued compensation and employee benefits 634 756 Other accrued expenses 2,809 2,208 Accrued expenses $ 5,695 $ 5,185 (1) Revenue recognized during the three months and six months ended February 28, 2026 that was included in the contract liability balance as of August 31, 2025, was $ 177 million and $ 364 million, respectively. Revenue recognized during the three months and six months ended February 28, 2025 that was included in the contract liability balance as of August 31, 2024, was $ 139 million and $ 289 million, respectively. 9. Derivative Financial Instruments and Hedging Activities The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company’s financial performance and are referred to as market risks. The Company, where deemed appropriate, uses derivatives as risk management tools to mitigate the potential impact of certain market risks. The primary market risks managed by the Company through the use of derivative instruments are foreign currency risk and interest rate risk. 10 Table of Contents All derivative instruments are recorded gross on the Condensed Consolidated Balance Sheets at their respective fair values. Changes in fair value of derivative instruments are recorded in the Condensed Consolidated Statements of Operations, or as a component of accumulated other comprehensive income (“AOCI”) in the Condensed Consolidated Balance Sheets. Foreign Currency Risk Management The Company enters into forward foreign exchange contracts to manage the foreign currency risk associated with the anticipated foreign currency denominated revenues and expenses. Cash Flow Hedges The Company enters into forward foreign exchange contracts to effectively lock in the value of anticipated foreign currency denominated revenues and expenses against foreign currency fluctuations. The related forward foreign exchange contracts have been designated as hedging instruments and are accounted for as cash flow hedges. The aggregate notional amount of these outstanding contracts as of February 28, 2026, and August 31, 2025, was $ 499 million and $ 433 million, respectively. The anticipated foreign currency denominated revenues and expenses being hedged are expected to occur between March 1, 2026, and February 28, 2027. Net Investment Hedges In addition, the Company has entered into forward foreign exchange contracts to hedge a portion of its net investment in foreign currency denominated operations, which are designated as net investment hedges. The maturity dates and aggregate notional amount of these outstanding contracts are as follows (in millions): Maturity date February 28, 2026 August 31, 2025 October 2025 $ — $ 103 January 2026 — 200 April 2026 44 42 July 2026 166 45 October 2026 59 — July 2027 117 — Total $ 386 $ 390 Gains and losses on derivative instruments designated as cash flow hedges and derivative instruments designated as net investment hedges recognized in OCI and reclassified from AOCI into earnings were not material during the three months and six months ended February 28, 2026, and 2025. Gains and losses recognized in earnings due to amounts excluded from effectiveness testing were not material during the three months and six months ended February 28, 2026, and 2025. Non-Designated Derivatives In addition to derivatives that are designated as hedging instruments and qualify for hedge accounting, the Company also enters into forward foreign exchange contracts to economically hedge transactional exposure associated with commitments arising from trade accounts receivable, trade accounts payable, fixed purchase obligations and intercompany transactions denominated in a currency other than the functional currency of the respective operating entity. The Company may also enter into forward foreign exchange contracts to economically hedge the foreign currency exposure related to the purchase price for a pending acquisition. The aggregate notional amount of these outstanding contracts as of February 28, 2026, and August 31, 2025, was $ 2.7 billion and $ 3.2 billion, respectively. Gains and losses on derivative instruments not designated as hedging instruments recognized in earnings were not material during the three months and six months ended February 28, 2026, and 2025. Interest Rate Risk Management The Company periodically enters into interest rate swaps to manage interest rate risk associated with the Company’s borrowings or anticipated debt issuances. As of February 28, 2026, there are no outstanding interest rate swaps. 11 Table of Contents Contemporaneously with the issuance of the 4.750 % Senior Notes in January 2026, the Company settled cash flow hedges with an aggregate notional amount of $ 400 million, with various effective dates from March 2025 through December 2025. The cash received for the cash flow hedges at settlement was immaterial. The settled cash flow hedges are recorded in the Condensed Consolidated Balance Sheets as a component of AOCI and are amortized to interest expense, net in the Condensed Consolidated Statements of Operations. 10. Stockholders’ Equity The Company recognized stock-based compensation expense within selling, general and administrative expense as follows (in millions): Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Restricted stock units $ 19 $ 15 $ 77 $ 55 Employee stock purchase plan 8 6 13 10 Total $ 27 $ 21 $ 90 $ 65 As of February 28, 2026 , the shares available to be issued under t he 2021 Equity Incentive Plan were 6,556,271 . Restricted Stock Units Certain key employees have been granted time-based, performance-based and market-based restricted stock unit awards (“restricted stock units”). The time-based restricted stock units generally vest on a graded vesting schedule over three years . The performance-based restricted stock units generally vest on a cliff vesting schedule over three years and up to a maximum of 200 %, depending on the specified performance condition and the level of achievement obtained. The performance-based restricted stock units have a vesting condition that is based upon the Company’s cumulative adjusted core earnings per share during the performance period. The market-based restricted stock units generally vest on a cliff vesting schedule over three years and up to a maximum of 200 %, depending on the specified performance condition and the level of achievement obtained. The market-based restricted stock units have a vesting condition that is tied to the Company’s total shareholder return based on the Company’s stock performance in relation to the companies in the Standard and Poor’s (S&P) Super Composite Technology Hardware and Equipment Index excluding the Company. During the six months ended February 28, 2026, and 2025, the Company awarded approximately 0.4 million and 0.6 million time-based restricted stock units, respectively, 0.1 million and 0.1 million performance-based restricted stock units, respectively, and 0.1 million and 0.1 million market-based restricted stock units, respectively. The following represents the stock-based compensation information as of the period indicated (in millions): February 28, 2026 Unrecognized stock-based compensation expense – restricted stock units $ 92 Remaining weighted-average period for restricted stock units expense 1.5 years Common Stock Outstanding The following represents the common stock outstanding for the periods indicated: Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Common stock outstanding: Beginning balances 106,822,960 111,693,059 107,480,895 113,744,167 Shares issued under employee stock purchase plan 210,729 355,851 210,750 355,851 Vesting of restricted stock 13,111 6,419 1,101,759 1,089,031 Purchases of treasury stock under employee stock plans ( 873 ) ( 991 ) ( 315,109 ) ( 323,991 ) Treasury shares purchased ( 1,227,693 ) ( 2,514,534 ) ( 2,660,061 ) ( 5,325,254 ) Ending balances 105,818,234 109,539,804 105,818,234 109,539,804 12 Table of Contents Treasury Shares Purchased The Company repurchases shares of its common stock under share repurchase programs authorized by the Company’s Board of Directors. The following Board approved share repurchase programs were executed through a combination of accelerated share repurchase (“ASR”) agreements and open market transactions (in millions): Board Approval Date Amount Authorized Shares Repurchased Total Cash Utilized Remaining Authorization Authorization Completion Date 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 (1) Q4 FY 2025 $ 1,000 3.0 $ 666 $ 334 (1) As of February 28, 2026, 2.7 million shares had been repurchased for $ 600 million and $ 400 million remained available under the 2026 Share Repurchase Program. As of April 1, 2026, 3.0 million shares had been repurchased for $ 666 million and $ 334 million remained available under the 2026 Share Repurchase Program. Under ASR agreements, the Company makes payments to the participating financial institutions and receives an initial delivery of shares of common stock. The final number of shares delivered upon settlement of the ASR agreements is determined based on a discount to the volume weighted average price of the Company’s common stock during the term of the agreements. At the time the shares are received by the Company, the initial delivery and the final delivery of shares upon settlement of the ASR agreements results in an immediate reduction of the outstanding shares used to calculate the weighted-average common shares outstanding for basic and diluted earnings per share. The terms of ASR agreements, structured as outlined above, were as follows (in millions, except average price): Agreement Execution Date Agreement Settlement Date Agreement Amount Initial Shares Delivered Additional Shares Delivered Total Shares Delivered Average Price Paid Per Share Q4 FY 2024 Q1 FY 2025 $ 555 4.2 1.0 5.2 $ 107.08 Q2 FY 2025 Q3 FY 2025 $ 310 1.8 0.2 2.0 $ 154.44 Q3 FY 2025 Q4 FY 2025 $ 309 1.8 0.0 1.8 $ 171.91 Q1 FY 2026 Q2 FY 2026 (1) $ 45 0.2 0.0 0.2 $ 209.67 Q2 FY 2026 Q3 FY 2026 (2) $ 200 0.8 0.0 0.8 $ 246.29 (1) In October 2025, the Company entered into ASR agreements to repurchase $ 45 million, excluding excise tax, of the Company’s common stock. Under the ASR agreements, the Company made payments of $ 45 million to participating financial institutions and received an initial delivery of shares of common stock. In December 2025, the ASR transaction was completed and the final delivery of shares of common stock was received. (2) In December 2025, the Company entered into ASR agreements to repurchase $ 200 million, excluding excise tax, of the Company’s common stock. Under the ASR agreements, the Company made payments of $ 200 million to participating financial institutions and received an initial delivery of shares of common stock. In March 2026, the ASR transaction was completed and the final delivery of shares of common stock was received. In addition, the Company repurchased shares of its common stock through the open market as follows (in millions): Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Shares Cost Shares Cost Shares Cost Shares Cost Open market share repurchases (1) 0.5 $ 100 0.7 $ 94 1.7 $ 355 2.5 $ 326 (1) As of April 1, 2026, 2.0 million shares had been repurchased for $ 421 million through open market transactions under the 2026 Share Repurchase Program. Warrants On December 27, 2024, the Company issued a warrant (the “Warrant”) to Amazon.com NV Investment Holdings LLC to acquire up to 1,158,539 ordinary shares of the Company (“Warrant Shares”) at an initial exercise price of $ 137.7671 per share. 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. 13 Table of Contents The following table summarizes the Warrant activity for the six months ended February 28, 2026: Warrant Shares Outstanding as of August 31, 2025 1,098,957 Changes during the period Shares granted — Shares vested — Outstanding as of February 28, 2026 1,098,957 Exercisable as of February 28, 2026 59,582 11. Concentration of Risk and Segment Data Concentration of Risk Sales of the Company’s products are concentrated among specific customers. During the six months ended February 28, 2026, the Company’s five largest customers accounted for approximately 38 % of its net revenue and 78 customers accounted for approximately 90 % of its net revenue. Sales to these customers were reported in the Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce operating segments. The Company procures components from a broad group of suppliers. Some of the products manufactured by the Company require one or more components that are available from only a single source. Segment Data Operating segments are defined as components of an enterprise that engage in business activities from which they may earn revenues and incur expenses; for which separate financial information is available; 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 Company’s operating segments consist of three segments – Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce, 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 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. The Intelligent Infrastructure segment is focused on the modern digital ecosystem including artificial intelligence (“AI”) infrastructure and includes revenues from customers primarily in the capital equipment, cloud and data center infrastructure, and networking and communications industries. 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. 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 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. Certain items are excluded from the calculation of segment income. 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. All other non-segment assets are reviewed on a global basis by management. Transactions between operating segments are generally recorded at amounts that approximate those at which we would transact with third parties. 14 Table of Contents The following tables set forth operating segment information (in millions): Three months ended February 28, 2026 February 28, 2025 Regulated Industries Intelligent Infrastructure Connected Living and Digital Commerce Total Regulated Industries Intelligent Infrastructure Connected Living and Digital Commerce Total Point in time $ 127 $ 2,358 $ 427 $ 2,912 $ 133 $ 1,217 $ 365 $ 1,715 Over time 2,899 1,670 801 5,370 2,608 1,430 975 5,013 Net revenue $ 3,026 $ 4,028 $ 1,228 $ 8,282 $ 2,741 $ 2,647 $ 1,340 $ 6,728 Segment expenses $ 2,881 $ 3,797 $ 1,168 $ 7,846 $ 2,609 $ 2,506 $ 1,279 $ 6,394 Segment income $ 145 $ 231 $ 60 $ 436 $ 132 $ 141 $ 61 $ 334 Segment income margin 4.8 % 5.7 % 4.9 % 5.3 % 4.8 % 5.3 % 4.5 % 5.0 % Six months ended February 28, 2026 February 28, 2025 Regulated Industries Intelligent Infrastructure Connected Living and Digital Commerce Total Regulated Industries Intelligent Infrastructure Connected Living and Digital Commerce Total Point in time $ 251 $ 4,683 $ 952 $ 5,886 $ 268 $ 2,323 $ 820 $ 3,411 Over time 5,848 3,198 1,655 10,701 5,430 2,820 2,061 10,311 Net revenue $ 6,099 $ 7,881 $ 2,607 $ 16,587 $ 5,698 $ 5,143 $ 2,881 $ 13,722 Segment expenses $ 5,777 $ 7,448 $ 2,472 $ 15,697 $ 5,428 $ 4,882 $ 2,731 $ 13,041 Segment income $ 322 $ 433 $ 135 $ 890 $ 270 $ 261 $ 150 $ 681 Segment income margin 5.3 % 5.5 % 5.2 % 5.4 % 4.7 % 5.1 % 5.2 % 5.0 % Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Segment income $ 436 $ 334 $ 890 $ 681 Reconciling items: Amortization of intangibles ( 23 ) ( 15 ) ( 42 ) ( 28 ) Stock-based compensation expense and related charges ( 27 ) ( 21 ) ( 90 ) ( 65 ) Restructuring, severance and related charges (1) ( 5 ) ( 45 ) ( 81 ) ( 128 ) Business interruption and impairment charges, net (2) — — — ( 9 ) Loss from the divestiture of businesses ( 2 ) — — — Acquisition and divestiture related charges (3) ( 6 ) ( 8 ) ( 21 ) ( 8 ) Other expense (net of periodic benefit cost) ( 30 ) ( 24 ) ( 59 ) ( 45 ) Interest expense, net ( 43 ) ( 37 ) ( 77 ) ( 75 ) Income before income tax $ 300 $ 184 $ 520 $ 323 (1) Charges recorded during the three months and six months ended February 28, 2026, relate to targeted restructuring activities to optimize our cost structure and improve operational efficiencies. Charges recorded during the three months and six months ended February 28, 2025, primarily related to the 2025 Restructuring Plan. (2) Charges recorded during the six months ended February 28, 2025, related 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 are classified as a component of cost of revenue and selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. 15 Table of Contents (3) Charges recorded during the three months and six months ended February 28, 2026, include $ 11 million and $ 8 million, respectively, of gains on forward foreign exchange contracts in connection with the acquisition of Hanley Energy Group. February 28, 2026 August 31, 2025 Total assets: Regulated Industries $ 6,590 $ 6,262 Intelligent Infrastructure 5,007 3,739 Connected Living and Digital Commerce 2,248 2,199 Other non-allocated assets 6,783 6,343 Total $ 20,628 $ 18,543 The Company operates in approximately 30 countries worldwide. Sales to unaffiliated customers are based on the Company location that maintains the customer relationship and transacts the external sale. The following table sets forth, for the periods indicated, foreign source revenue expressed as a percentage of net revenue: Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Foreign source revenue 72.6 % 77.0 % 72.7 % 78.9 % 12. Restructuring, Severance, and Related Charges The following is a summary of the Company’s restructuring, severance, and related charges (in millions): Three months ended Six months ended February 28, 2026 (1) February 28, 2025 (2) February 28, 2026 (1) February 28, 2025 (2) Employee severance and benefit costs $ 1 $ 18 $ 33 $ 45 Lease costs — 1 — 4 Asset write-off costs 1 4 32 27 Other costs 3 22 16 52 Total restructuring, severance and related charges (3) $ 5 $ 45 $ 81 $ 128 (1) Primarily related to targeted restructuring activities to optimize our cost structure and improve operational efficiencies. (2) Primarily related to the 2025 Restructuring Plan. (3) 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): Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Total restructuring, severance and related charges: Regulated Industries $ 1 $ 3 $ 46 $ 24 Intelligent Infrastructure 1 21 6 50 Connected Living and Digital Commerce 3 ( 1 ) 28 5 Non-allocated charges — 22 1 49 Total $ 5 $ 45 $ 81 $ 128 16 Table of Contents The table below summarizes the Company’s liability activity during the six months ended February 28, 2026 (in millions): Employee Severance and Benefit Costs Lease Costs Asset Write-off Costs Other Related Costs Total Balance as of August 31, 2025 $ 16 $ — $ — $ 17 $ 33 Restructuring related charges 33 — 32 16 81 Asset write-off charge and other non-cash activity — — ( 32 ) ( 12 ) ( 44 ) Cash payments ( 34 ) — — ( 9 ) ( 43 ) Balance as of February 28, 2026 $ 15 $ — $ — $ 12 $ 27 2025 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 Selling, General, and Administrative (“SG&A”) and manufacturing cost base and capacity realignment (the “2025 Restructuring Plan”). The 2025 Restructuring Plan, totaling approximately $ 200 million in pre-tax restructuring and other related costs, was substantially complete as of November 30, 2025. 13. Income Taxes Effective Income Tax Rate The U.S. federal statutory income tax rate and the Company's effective income tax rate are as follows: Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % 21.0 % Effective income tax rate 26.2 % 36.2 % 29.3 % 32.7 % The effective income tax rate differed for the three months and six months ended February 28, 2026, compared to the three months and six months ended February 28, 2025, primarily due to: (i) a change in the jurisdictional mix of earnings, driven in part by strengthened performance in tax jurisdictions with existing valuation allowances for the three and six months ended February 28, 2026 and (ii) an $ 18 million income tax benefit for the reversal of an unrecognized tax benefit due to a lapse of statute for the six months ended February 28, 2025. The effective income tax rate differed from the U.S. federal statutory income tax rate of 21.0% during the three months and six months ended February 28, 2026 and 2025, primarily due to: (i) the jurisdictional mix of earnings, (ii) losses in tax jurisdictions with existing valuation allowances, (iii) tax incentives granted to sites in Malaysia, Singapore, and Vietnam, and (iv) an $ 18 million income tax benefit for the reversal of an unrecognized tax benefit due to a lapse of statute for the six months ended February 28, 2025 . 14. Earnings Per Share and Dividends Earnings Per Share The Company calculates its basic earnings per share by dividing net income attributable to the Company by the weighted average number of common shares outstanding during the period. The Company’s diluted earnings per share is calculated in a similar manner but includes the effect of dilutive securities. The difference between the weighted average number of basic shares outstanding and the weighted average number of diluted shares outstanding is primarily due to dilutive unvested restricted stock units. 17 Table of Contents Potential shares of common stock are excluded from the computation of diluted earnings per share when their effect would be antidilutive. Performance-based restricted stock units are considered dilutive when the related performance criteria have been met assuming the end of the reporting period represents the end of the performance period. All potential shares of common stock are antidilutive in periods of net loss. Potential shares of common stock not included in the computation of earnings per share because their effect would have been antidilutive or because the performance criterion was not met were as follows (in thousands): Three months ended Six months ended February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025 Restricted stock units 231.9 334.3 231.9 334.3 Dividends The following table sets forth cash dividends declared by the Company to common stockholders during the six months ended February 28, 2026, and 2025 (in millions, except for per share data): Dividend Declaration Date Dividend per Share Total of Cash Dividends Declared Date of Record for Dividend Payment Dividend Cash Payment Date Fiscal Year 2026: October 16, 2025 $ 0.08 $ 9 November 17, 2025 December 2, 2025 January 22, 2026 $ 0.08 $ 9 February 17, 2026 March 3, 2026 Fiscal Year 2025: October 17, 2024 $ 0.08 $ 9 November 15, 2024 December 3, 2024 January 23, 2025 $ 0.08 $ 8 February 18, 2025 March 4, 2025 15. Business Acquisitions and Divestitures Acquisitions Fiscal Year 2026 On January 2, 2026, the Company completed the acquisition of Hanley Energy Group (“Hanley”) for cash consideration transferred of $ 748 million. Pursuant to the purchase agreement, the Company recorded the estimated fair value of contingent consideration obligations subject to achieving future revenue thresholds. Hanley is a provider of energy management and critical power solutions serving the data center infrastructure market. The final purchase price is subject to adjustment based on conditions within the purchase agreement. The acquisition will help expand Jabil’s rack-level data center infrastructure capabilities and solutions. The acquisition of Hanley was accounted for as a business combination using the acquisition method of accounting. Assets acquired of $ 899 million, including $ 366 million in intangible assets and $ 340 million in goodwill, and liabilities assumed of $ 151 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 as the Company receives final information and completes its analysis. The primary areas that may be subject to revision include fair values of intangible assets, goodwill, and related tax attributes. 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. Goodwill is primarily attributable to expected synergies in data center power management. 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 January 2, 2026. Pro forma information has not been provided as the acquisition of Hanley is not deemed to be significant. On September 1, 2025, the Company completed the acquisition of Rebound Technologies Group Holdings Limited (“Rebound Technologies”) for cash consideration transferred of $ 133 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. 18 Table of Contents The acquisition of Rebound Technologies was accounted for as a business combination using the acquisition method of accounting. Assets acquired of $ 176 million, including $ 48 million in intangible assets and $ 44 million in goodwill, and liabilities assumed of $ 43 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 as the Company receives final information and completes its analysis. The primary areas that may be subject to revision include fair values of intangible assets, goodwill and related tax attributes. 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 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 September 1, 2025. Pro forma information has not been provided as the acquisition of Rebound Technologies is not deemed to be significant. Fiscal Year 2025 On February 3, 2025, the Company completed the acquisition of Pharmaceutics International, Inc. (“Pii”) for cash consideration transferred of $ 309 million. 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 will 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 $ 358 million, including $ 149 million in intangible assets and $ 142 million in goodwill, and liabilities assumed of $ 49 million were recorded at their estimated fair values as of the acquisition date. 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 condensed 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 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 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 condensed 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. Divestitures 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 three months 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. 19 Table of Contents 16. Fair Value Measurements Fair Value Measurements on a Recurring Basis The carrying amounts of cash and cash equivalents, trade accounts receivable, prepaid expenses, and other current assets, accounts payable and accrued expenses approximate fair value because of the short-term nature of these financial instruments. Cash equivalents consist of investments that are readily convertible to cash with original maturities of 90 days or less and are classified within Level 1 of the fair value hierarchy. As of February 28, 2026 and August 31, 2025, there were $ 627 million and $ 392 million of cash equivalents, respectively. The fair value of forward foreign exchange contracts were not material to the Company’s Condensed Consolidated Balance Sheets as of February 28, 2026 and August 31, 2025. Fair Value of Financial Instruments The carrying amounts of borrowings under credit facilities and under loans approximate fair value as interest rates on these instruments approximate current market rates. Notes payable and long-term debt is carried at amortized cost; however, the Company estimates the fair values of notes payable and long-term debt for disclosure purposes. The following table presents the carrying amounts and fair values of the Company's notes payable and long-term debt, by hierarchy level as of the periods indicated (in millions): February 28, 2026 August 31, 2025 Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value Notes payable and long-term debt: (Note 6) 3.950 % Senior Notes Level 2 (1) $ 499 $ 499 $ 499 $ 496 3.600 % Senior Notes Level 2 (1) $ 498 $ 487 $ 498 $ 480 3.000 % Senior Notes Level 2 (1) $ 595 $ 563 $ 595 $ 551 1.700 % Senior Notes Level 2 (1) $ 500 $ 498 $ 499 $ 492 4.250 % Senior Notes Level 2 (1) $ 498 $ 502 $ 497 $ 500 5.450 % Senior Notes Level 2 (1) $ 298 $ 311 $ 297 $ 308 4.200 % Senior Notes Level 2 (1) $ 497 $ 501 $ — $ — 4.750 % Senior Notes Level 2 (1) $ 491 $ 498 $ — $ — (1) The fair value estimates are based upon observable market data. 17. Commitments and Contingencies Legal Proceedings The Company is party to certain lawsuits in the ordinary course of business. The Company does not believe that these proceedings, individually or in the aggregate, will have a material adverse effect on the Company’s financial position, results of operations or cash flows. 18. New Accounting Guidance New accounting guidance adopted during the period did not have a material impact to the Company. Recently issued accounting guidance is not applicable or did not have, or is not expected to have, a material impact to the Company. 20 Table of Contents JABIL INC. AND SUBSIDIARIES This Quarterly Report on Form 10-Q contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Many of the forward-looking statements are located in Item 2 of this Form 10-Q under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Forward-looking statements can also be identified by words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “will,” “would,” “should,” “could,” “can,” “may,” and similar terms. Forward-looking statements are not guarantees of future performance and the Company’s actual results may differ significantly from the results discussed in the forward-looking statements. Achievement of anticipated results is subject to substantial risks, uncertainties and inaccurate assumptions. Should these risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. You should bear this in mind as you consider forward-looking statements, and you are cautioned not to put undue reliance on forward-looking statements. We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or by the rules and regulations of the SEC. You are advised, however, to consult any further disclosures we make on related subjects. Factors that might cause such differences include, but are not limited to, those discussed in Part 1, Item 1A of the Company’s Annual Report on Form 10-K for the year ended August 31, 2025 such as, scheduling production, managing growth and capital expenditures and maximizing the efficiency of our manufacturing capacity effectively; managing rapid declines or increases in customer demand and other related customer challenges that may occur; our dependence on a limited number of customers; our ability to purchase components efficiently and reliance on a limited number of suppliers for critical components; risks arising from relationships with emerging companies; changes in technology and competition in our industry; our ability to introduce new business models or programs requiring implementation of new competencies; competition; transportation issues; our ability to maintain our engineering, technological and manufacturing expertise; retaining key personnel; risks associated with international sales and operations, including geopolitical uncertainties and trade disputes that have resulted in tariffs and other protectionist measures and could result in further such actions in the future; energy price increases or shortages; our ability to achieve expected profitability from acquisitions; risk arising from our restructuring activities; issues involving our information systems, including security issues; regulatory risks (including the expense of complying, or failing to comply, with applicable regulations; risk arising from design or manufacturing defects; risk arising from compliance, or failure to comply, with environmental, health and safety laws or regulations, risks arising from litigation and intellectual property risk); financial risks (including customers or suppliers who become financially troubled; turmoil in financial markets; tax risks; credit rating risks; risks of exposure to debt; currency fluctuations; and asset impairment); changes in financial accounting standards or policies; risk of natural disaster, climate change or other global events; and risks arising from expectations relating to environmental, social and governance considerations. References in this report to “the Company,” “Jabil,” “we,” “our,” or “us” mean Jabil Inc. together with its consolidated subsidiaries, except where the context otherwise requires. 21 Table of Contents