Sensata Technologies Holding plc 10-Q

Item 1. Financial Statements. SENSATA TECHNOLOGIES HOLDING PLC Condensed Consolidated Balance Sheets (In millions, except per share amounts) (unaudited) June 30, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 403.3 $ 573.0 Accounts receivable, net of allowances of $ 13.5 and $ 16.2 as of June 30, 2026 and December 31, 2025, respectively 737.4 657.4 Inventories 579.1 617.8 Prepaid expenses and other current assets 151.2 146.1 Total current assets 1,871.0 1,994.3 Property, plant and equipment, net 759.2 776.5 Goodwill 3,158.3 3,158.2 Other intangible assets, net of accumulated amortization of $ 2,620.3 and $ 2,588.7 as of June 30, 2026 and December 31, 2025, respectively 382.2 411.6 Deferred income tax assets 265.5 277.2 Other assets 149.2 133.9 Total assets $ 6,585.4 $ 6,751.7 Liabilities and shareholders' equity Current liabilities: Current portion of long-term debt and finance lease obligations $ 2.4 $ 2.3 Accounts payable 473.5 413.0 Income taxes payable 17.7 16.8 Accrued expenses and other current liabilities 323.0 343.1 Total current liabilities 816.5 775.1 Deferred income tax liabilities 243.5 226.9 Pension and other post-retirement benefit obligations 40.8 39.1 Finance lease obligations, less current portion 17.7 18.9 Long-term debt, net 2,424.8 2,828.6 Other long-term liabilities 82.0 77.8 Total liabilities 3,625.4 3,966.3 Commitments and contingencies (Note 11) Shareholders’ equity: Ordinary shares, € 0.01 nominal value per share, 177.5 and 177.0 shares issued as of June 30, 2026 and December 31, 2025, respectively 2.3 2.3 Treasury shares, at cost, 31.9 and 31.2 shares as of June 30, 2026 and December 31, 2025, respectively ( 1,427.8 ) ( 1,402.7 ) Additional paid-in capital 1,913.0 1,897.6 Retained earnings 2,442.3 2,295.6 Accumulated other comprehensive income/loss 30.2 ( 7.4 ) Total shareholders' equity 2,960.0 2,785.4 Total liabilities and shareholders' equity $ 6,585.4 $ 6,751.7 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents SENSATA TECHNOLOGIES HOLDING PLC Condensed Consolidated Statements of Operations (In millions, except per share amounts) (unaudited) For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net revenue $ 990.6 $ 943.4 $ 1,925.4 $ 1,854.6 Operating costs and expenses: Cost of revenue 688.8 657.1 1,337.3 1,295.8 Research and development 31.9 32.6 63.8 69.4 Selling, general and administrative 90.5 87.8 183.9 173.9 Amortization of intangible assets 15.7 21.2 31.5 41.8 Restructuring and other charges, net ( 1.7 ) 6.6 2.0 13.6 Total operating costs and expenses 825.3 805.3 1,618.4 1,594.4 Operating income 165.4 138.1 307.0 260.3 Interest expense ( 32.8 ) ( 37.7 ) ( 66.9 ) ( 75.7 ) Interest income 3.6 4.5 7.5 8.8 Other, net ( 3.6 ) 0.9 0.4 3.1 Income before taxes 132.5 105.8 248.0 196.4 Provision for income taxes 30.3 45.1 58.8 65.8 Net income $ 102.1 $ 60.7 $ 189.2 $ 130.6 Basic net income per share $ 0.70 $ 0.41 $ 1.30 $ 0.89 Diluted net income per share $ 0.70 $ 0.41 $ 1.29 $ 0.88 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 Table of Contents SENSATA TECHNOLOGIES HOLDING PLC Condensed Consolidated Statements of Comprehensive Income (In millions) (unaudited) For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net income $ 102.1 $ 60.7 $ 189.2 $ 130.6 Other comprehensive income, net of tax: Cash flow hedges 8.4 ( 2.3 ) 19.8 ( 6.8 ) Defined benefit and retiree healthcare plans 0.0 0.0 0.0 0.5 Currency translation adjustment 8.7 9.8 17.8 13.7 Other comprehensive income 17.1 7.5 37.6 7.4 Comprehensive income $ 119.3 $ 68.2 $ 226.8 $ 138.0 The accompanying notes are an integral part of these condensed consolidated financial statements. 5 Table of Contents SENSATA TECHNOLOGIES HOLDING PLC Condensed Consolidated Statements of Cash Flows (In millions) (unaudited) For the six months ended June 30, 2026 June 30, 2025 Cash flows from operating activities: Net income $ 189.2 $ 130.6 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 67.6 74.3 Amortization of debt issuance costs 2.2 2.4 Loss on sale of business — 3.9 Share-based compensation 14.0 11.4 Gain on extinguishment of debt ( 4.4 ) — Amortization of intangible assets 31.5 41.8 Deferred income taxes 21.7 17.3 Gain on equity investments, net ( 0.2 ) — Other non-cash loss, net 0.6 15.8 Changes in operating assets and liabilities, net of effects of divestitures: Accounts receivable, net ( 77.2 ) ( 96.1 ) Inventories 37.3 ( 24.4 ) Prepaid expenses and other ( 5.3 ) ( 3.6 ) Accounts payable and accrued expenses 54.7 82.5 Income taxes payable 0.8 4.3 Net cash provided by operating activities 332.5 260.1 Cash flows from investing activities: Additions to property, plant and equipment and capitalized software ( 41.5 ) ( 58.0 ) Proceeds from the sale of business, net of cash sold 1.3 25.6 Other 4.3 ( 1.3 ) Net cash used in investing activities ( 35.9 ) ( 33.6 ) Cash flows from financing activities: Payment of employee restricted stock tax withholdings ( 7.6 ) ( 3.5 ) Payments on debt ( 401.1 ) ( 1.2 ) Dividends paid ( 34.9 ) ( 35.5 ) Payments to repurchase ordinary shares ( 25.1 ) ( 120.6 ) Payments of debt financing costs ( 1.2 ) — Proceeds from exercise of stock options 1.4 — Net cash used in financing activities ( 468.5 ) ( 160.8 ) Effect of exchange rate changes on cash and cash equivalents 2.2 2.4 Net change in cash and cash equivalents ( 169.7 ) 68.1 Cash and cash equivalents, beginning of year 573.0 593.7 Cash and cash equivalents, end of period $ 403.3 $ 661.8 The accompanying notes are an integral part of these condensed consolidated financial statements. 6 Table of Contents SENSATA TECHNOLOGIES HOLDING PLC Condensed Consolidated Statements of Changes in Shareholders' Equity Three Months Ended June 30, 2026 and 2025 (In millions) (unaudited) Ordinary Shares Treasury Shares Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive (Loss)/ Income Total Shareholders' Equity Number Amount Number Amount Balance as of March 31, 2026 177.0 $ 2.3 ( 31.9 ) $ ( 1,427.8 ) $ 1,904.4 $ 2,363.7 $ 13.0 $ 2,855.5 Surrender of shares for tax withholding — — ( 0.2 ) ( 6.0 ) — — — ( 6.0 ) Stock options exercised 0.0 0.0 — — 1.4 — — 1.4 Vesting of restricted securities 0.6 0.0 — — — (0.0) — — Cash dividends paid — — — — — ( 17.5 ) — ( 17.5 ) Retirement of ordinary shares ( 0.2 ) (0.0) 0.2 6.0 — ( 6.0 ) — — Share-based compensation — — — — 7.2 — — 7.2 Net income — — — — — 102.1 — 102.1 Other comprehensive income — — — — — — 17.1 17.1 Balance as of June 30, 2026 177.5 $ 2.3 ( 31.9 ) $ ( 1,427.8 ) $ 1,913.0 $ 2,442.3 $ 30.2 $ 2,960.0 Balance as of March 31, 2025 176.5 $ 2.3 ( 30.5 ) $ ( 1,382.6 ) $ 1,879.4 $ 2,392.2 $ ( 42.7 ) $ 2,848.6 Surrender of shares for tax withholding — — ( 0.1 ) ( 3.5 ) — — — ( 3.5 ) Vesting of restricted securities 0.5 0.0 — — — (0.0) — — Cash dividends paid — — — — — ( 17.6 ) — ( 17.6 ) Repurchase of ordinary shares — — ( 0.7 ) ( 20.1 ) — — — ( 20.1 ) Retirement of ordinary shares ( 0.1 ) 0.0 0.1 3.5 — ( 3.4 ) — — Share-based compensation — — — — 4.5 — — 4.5 Net income — — — — — 60.7 — 60.7 Other comprehensive income — — — — — — 7.5 7.5 Balance as of June 30, 2025 176.9 $ 2.3 ( 31.2 ) $ ( 1,402.7 ) $ 1,883.9 $ 2,431.8 $ ( 35.2 ) $ 2,880.2 The accompanying notes are an integral part of these condensed consolidated financial statements. 7 Table of Contents SENSATA TECHNOLOGIES HOLDING PLC Condensed Consolidated Statements of Changes in Shareholders' Equity Six Months Ended June 30, 2026 and 2025 (In millions) (unaudited) Ordinary Shares Treasury Shares Additional Paid-In Capital Retained Earnings Accumulated Other Comprehensive (Loss)/ Income Total Shareholders' Equity Number Amount Number Amount Balance as of December 31, 2025 177.0 $ 2.3 ( 31.2 ) $ ( 1,402.7 ) $ 1,897.6 $ 2,295.6 $ ( 7.4 ) $ 2,785.4 Surrender of shares for tax withholding — — ( 0.2 ) ( 7.6 ) — — — ( 7.6 ) Stock options exercised 0.0 0.0 — — 1.4 — — 1.4 Vesting of restricted securities 0.7 0.0 — — — (0.0) — — Cash dividends paid — — — — — ( 34.9 ) — ( 34.9 ) Repurchase of ordinary shares — — ( 0.7 ) ( 25.1 ) — — — ( 25.1 ) Retirement of ordinary shares ( 0.2 ) ( 0.0 ) 0.2 7.6 — ( 7.6 ) — — Share-based compensation — — — — 14.0 — — 14.0 Net income — — — — — 189.2 — 189.2 Other comprehensive income — — — — — — 37.6 37.6 Balance as of June 30, 2026 177.5 $ 2.3 ( 31.9 ) $ ( 1,427.8 ) $ 1,913.0 $ 2,442.3 $ 30.2 $ 2,960.0 Balance as of December 31, 2024 176.5 $ 2.3 ( 27.0 ) $ ( 1,282.1 ) $ 1,872.6 $ 2,340.2 $ ( 42.5 ) $ 2,890.4 Surrender of shares for tax withholding — — ( 0.1 ) ( 3.5 ) — — — ( 3.5 ) Vesting of restricted securities 0.5 0.0 — — — (0.0) — — Cash dividends paid — — — — — ( 35.5 ) — ( 35.5 ) Repurchase of ordinary shares — — ( 4.2 ) ( 120.6 ) — — — ( 120.6 ) Retirement of ordinary shares ( 0.1 ) (0.0) 0.1 3.5 — ( 3.5 ) — — Share-based compensation — — — — 11.4 — — 11.4 Net income — — — — — 130.6 — 130.6 Other comprehensive income — — — — — — 7.4 7.4 Balance as of June 30, 2025 176.9 $ 2.3 ( 31.2 ) $ ( 1,402.7 ) $ 1,883.9 $ 2,431.8 $ ( 35.2 ) $ 2,880.2 The accompanying notes are an integral part of these condensed consolidated financial statements. 8 Table of Contents SENSATA TECHNOLOGIES HOLDING PLC NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect the financial position, results of operations, comprehensive income, cash flows, and changes in shareholders' equity of Sensata Technologies Holding plc, a public limited company incorporated under the laws of England and Wales, and its consolidated subsidiaries, collectively referred to as the "Company," "Sensata," "we," "our," or "us." The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States ("U.S.") generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q. Accordingly, these interim financial statements do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements. The accompanying interim financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the interim period results. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (the "SEC") on February 27, 2026 (the "2025 Annual Report"). During the fourth quarter of 2025, we realigned our business as a result of organizational changes that better allocate our resources to support changes to our business strategy. These changes resulted in the dissolution of our prior segments, Performance Sensing and Sensing Solutions, and the creation of three new segments. Our Automotive segment includes both Automotive and Aftermarket businesses. The Industrials segment includes our Industrial and Dynapower businesses. The Aerospace, Defense, and Commercial Equipment segment includes our Aerospace and Commercial Equipment businesses. Our new operating structure allows us to more effectively allocate capital and investment dollars based on different end market and growth dynamics in each of these segments. During the period, we moved our ASICs products from the Industrials reportable segment to the Automotive reportable segment and our motors products from our Industrials reportable segment to the Aerospace, Defense, and Commercial Equipment reportable segment to align with new management reporting. Prior period amounts in this Quarterly Report on Form 10-Q have been recast to reflect this realignment and the movement of products described above and to conform to current year presentation. Refer to Note 15: Segment Reporting for additional information. All U.S. dollar ("USD") and share amounts presented, except per share amounts, are stated in millions, unless otherwise indicated. We round amounts in the consolidated financial statements within tables and text (unless otherwise specified) and calculate all percentages and per-share data from underlying whole-dollar amounts. Thus, certain amounts may not foot, crossfoot, or recalculate based on reported numbers due to rounding. Certain reclassifications have been made to prior periods to conform to current period presentation. 2. New Accounting Standards In November 2024, the FASB issued ASU No. 2024-03 Income Statement (Topic 220): Reporting Comprehensive Income , which requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement . ASU No. 2024-03 does not change or remove current expense presentation requirements within the Consolidated Statements of Operations. However, the update requires disclosure, on an annual and interim basis, of disaggregated information about certain income statement expense line items within the notes to the consolidated financial statements. This ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact that the adoption of ASU No. 2024-03 will have on its consolidated financial statements and disclosures. In September 2025, the FASB issued ASU No. 2025-06, Intangibles-Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This update improves the operability of the guidance by removing all references to software development project stages so that the guidance is neutral to different software development methods. ASU No. 2025-06 is effective for annual reporting periods beginning after December 15, 2027, including interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. This ASU can be applied prospectively, retrospectively, or with a modified transition approach. The Company is currently evaluating the impact that the adoption of ASU No. 2025-06 will have on its consolidated financial statements and disclosures. In November 2025, the FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. This guidance amends existing guidance to simplify the application of hedge accounting, enhance alignment between risk management activities and financial reporting, and provide additional flexibility in the designation and measurement of certain 9 Table of Contents hedging relationships. The amendments included in the five matters addressed in this ASU are intended to better reflect those strategies in financial reporting by enabling entities to achieve and maintain hedge accounting for highly effective economic hedges of forecasted transactions. The amendments are effective for annual reporting periods beginning after December 15, 2026, and interim periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU No. 2025-09 will have on its consolidated financial statements and disclosures. In May 2026, the FASB issued ASU No. 2026-02 Environmental Credits and Environmental Credit Obligations (Topic 818) . This update provides recognition, measurement, presentation and disclosure requirements for environmental credits and related environmental credit obligations for entities that generate, purchase or receive environmental credits or have a regulatory compliance obligation that may be settled with environmental credits. This update is effective for annual periods beginning after December 15, 2027, including interim periods within those fiscal years. The Company is currently evaluating the impact that the adoption of ASU No. 2026-02 will have on its consolidated financial statements and disclosures. 3. Revenue Recognition We recognize revenue to depict the transfer of promised goods to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods. The majority of our revenue is derived from the sale of tangible products whereby (1) control of the product transfers to the customer at a point in time, (2) we recognize revenue at a point in time, and (3) the underlying contract is a purchase order that establishes a firm purchase commitment for a short period of time. Our standard terms of sale provide our customers with a limited warranty against faulty workmanship and the use of defective materials. We have elected to apply certain practical expedients that allow for more limited disclosures than those that would otherwise be required by FASB ASC Topic 606, including (1) the disclosure of transaction price allocated to the remaining unsatisfied performance obligations at the end of the period and (2) an explanation of when we expect to recognize the related revenue. We believe that our geographic regions are the categories that best depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Refer to Note 15: Segment Reporting for additional information. 4. Share-Based Payment Plans The following table presents the components of non-cash compensation expense related to our equity awards for the three and six months ended June 30, 2026 and 2025: For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Restricted securities $ 7.2 $ 4.5 $ 14.0 $ 11.4 Share-based compensation expense $ 7.2 $ 4.5 $ 14.0 $ 11.4 Equity Awards During the second quarter of 2026, the Company's board of directors adopted an amendment to the 2021 Equity Incentive Plan to increase the number of shares that may be awarded by 2,890,000 shares, bringing the total to 8,590,000 shares. We granted the following restricted stock units ("RSUs" and each, an "RSU") and performance-based restricted stock units ("PRSUs" and each, a "PRSU") under the Sensata Technologies Holding plc 2021 Equity Incentive Plan during the six months ended June 30, 2026: Awards Granted To: Type of Award Number of Units Granted (in thousands) Weighted Average Grant Date Fair Value Directors RSU (1) 38 $ 49.65 Various executives and employees RSU (2) 735 $ 35.33 Various executives and employees PRSU (3) 206 $ 35.31 Various executives and employees PRSU (4) 206 $ 43.08 ____________________________________ (1) These RSUs cliff vest one year from the grant date (in June 2027). (2) These RSUs vest ratably over three years , one-third per year beginning on the first anniversary of the grant date. These RSUs will fully vest on various dates between January 2029 and June 2029. 10 Table of Contents (3) These PRSUs vest on various dates between April 2029 and June 2029. The number of units that ultimately vest will be between 0 % and 200 % and is dependent on the achievement of certain performance criteria. (4) These awards include certain PRSUs with market performance conditions that will be evaluated relative to the performance of certain peers as defined in the award agreement. The number of units that ultimately vest (in April 2029 and June 2029) w ill be from 0 % to 200 %, depe nding on achievement of these performance criteria. Total grant date value of these PRSUs is approximately $ 8.9 million and was valued using the Monte Carlo method. 5. Restructuring and Other Charges, Net Transformation Plan In the year ended December 31, 2025, we committed to a plan to reorganize our business (the “Transformation Plan”). The Transformation Plan, consisting of leadership transitions, involuntary reductions-in-force, site closures, and other cost-savings initiatives, was commenced to competitively reposition ourselves to capture growth from evolving market conditions. Over the life of the Transformation Plan, we expect to incur restructuring charges of between $ 16.0 million and $ 24.0 million, primarily related to reductions-in-force and related site closure costs. All restructuring costs are excluded from segment results. The majority of the actions under the Transformation Plan are expected to be completed on or before June 30, 2028. We expect to settle these charges with cash on hand. Summary The following table presents the components of restructuring and other charges, net for the three and six months ended June 30, 2026, and 2025: For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Transformation Plan $ 5.1 $ — $ 9.5 $ — Other plans, net 0.4 3.2 0.8 6.6 Other restructuring and other charges, net Severance charges, net — 1.3 ( 0.1 ) 1.2 Transaction related charges ( 7.2 ) — ( 8.2 ) 4.4 Facility and other charge — 2.2 — 1.4 Restructuring and other charges, net $ ( 1.7 ) $ 6.6 $ 2.0 $ 13.6 The following table presents a rollforward of our severance liability, which is primarily related to the Transformation Plan, for the six months ended June 30, 2026: Total Balance as of December 31, 2025 $ 4.8 Charges, net of reversals 5.8 Payments ( 5.3 ) Foreign currency remeasurement 0.0 Balance as of June 30, 2026 $ 5.3 The severance liability as of June 30, 2026 and December 31, 2025 was entirely recorded in accrued expenses and other current liabilities on our condensed consolidated balance sheets. 11 Table of Contents 6. Other, Net The following table presents the components of other, net for the three and six months ended June 30, 2026 and 2025: For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Currency remeasurement (loss)/gain on net monetary assets $ ( 4.5 ) $ 0.4 $ ( 4.5 ) $ ( 0.1 ) Gain/(loss) on foreign currency forward contracts 0.5 ( 2.5 ) 0.5 ( 4.1 ) (Loss)/gain on commodity forward contracts ( 3.6 ) 1.6 1.0 6.0 Gain on debt financing transactions 4.4 — 4.4 — Gain on equity investments, net 0.3 1.0 0.3 1.0 Net periodic benefit cost, excluding service cost ( 1.3 ) ( 0.6 ) ( 2.1 ) ( 1.2 ) Other 0.6 1.1 0.9 1.3 Other, net $ ( 3.6 ) $ 0.9 $ 0.4 $ 3.1 7. Income Taxes The following table presents the provision for income taxes for the three and six months ended June 30, 2026 and 2025: For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Provision for income taxes $ 30.3 $ 45.1 $ 58.8 $ 65.8 The provision for income taxes consists of (1) current tax expense, which relates primarily to our profitable operations in tax jurisdictions with limited or no net operating loss carryforwards and withholding taxes related to management fees, royalties, and the repatriation of foreign earnings; and (2) deferred tax expense (or benefit), which represents adjustments in book-to-tax basis differences primarily related to (a) book versus tax basis in intangible assets, (b) changes in net operating loss carryforwards and tax credits, and (c) changes in withholding taxes on unremitted earnings. In July 2025, the U.S. enacted Public Law 119-21 (commonly referred to as the “One Big Beautiful Bill Act”). The legislation includes multiple tax provisions with varying effective dates, certain of which became effective January 1, 2025 and others in later periods through 2027. As a multinational company with significant U.S. operations, the Company continues to evaluate the provisions of the legislation and related interpretive guidance. While the Company does not currently expect the adoption of Public Law 119-21 to have a material impact on its consolidated financial statements, the assessment of certain provisions is ongoing. 8. Net Income per Share Basic and diluted net income per share are calculated by dividing net income by the number of basic and diluted weighted-average ordinary shares outstanding during the period. For the three and six months ended June 30, 2026 and 2025 the weighted-average ordinary shares outstanding used to calculate basic and diluted net income per share were as follows: For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Basic weighted-average ordinary shares outstanding 145.5 146.2 145.5 147.4 Dilutive effect of stock options 0.0 — 0.0 — Dilutive effect of unvested restricted securities 1.3 0.3 1.2 0.3 Diluted weighted-average ordinary shares outstanding 146.7 146.5 146.7 147.7 Net income and net income per share are pr esented in the condensed consolidated statements of operations. 12 Table of Contents Certain potential ordinary shares were excluded from our calculation of diluted weighted-average ordinary shares outstanding because either they would have had an anti-dilutive effect on net income per share or they related to equity awards that were contingently issuable for which the contingency had not been satisfied. These potential ordinary shares were as follows: For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Anti-dilutive shares excluded 0.4 1.4 0.4 1.3 Contingently issuable shares excluded 1.6 1.0 1.2 0.9 9. Inventories The following table presents the components of inventories as of June 30, 2026 and December 31, 2025: June 30, 2026 December 31, 2025 Finished goods $ 189.4 $ 196.6 Work-in-process 139.4 144.8 Raw materials 250.3 276.4 Inventories $ 579.1 $ 617.8 10. Debt Tender Offer In May 2026, Sensata Technologies B.V. and Sensata Technologies, Inc., our indirect, wholly owned subsidiaries, announced the commencement of a cash tender offer for up to $ 400.0 million of aggregate cash consideration payable for the 4.0 % Senior Notes, the 4.375 % Senior Notes due 2030 (the " 4.375 % Senior Notes"), and the 5.875 % Senior Notes due 2030 (the " 5.875 % Senior Notes"). In June 2026, we purchased $ 406.1 million in aggregate principal amount of the 4.0 % Senior Notes that were validly tendered in connection with that tender offer. We paid $ 400.0 million in cash in the aggregate for such purchase. We did not purchase any 4.375 % Senior Notes or 5.875 % Senior Notes in these tender offers. Summary The following table presents the components of long-term debt, net and finance lease obligations as of June 30, 2026 and December 31, 2025: Maturity Date June 30, 2026 December 31, 2025 4.0 % Senior Notes April 15, 2029 $ 239.9 $ 646.0 4.375 % Senior Notes February 15, 2030 450.0 450.0 5.875 % Senior Notes September 1, 2030 500.0 500.0 3.75 % Senior Notes February 15, 2031 750.0 750.0 6.625 % Senior Notes July 15, 2032 500.0 500.0 Plus: debt premium, net of discount 0.2 0.5 Less: deferred financing costs ( 15.3 ) ( 17.9 ) Long-term debt, net $ 2,424.8 $ 2,828.6 Finance lease obligations $ 20.1 $ 21.2 Less: current portion ( 2.4 ) ( 2.3 ) Finance lease obligations, less current portion $ 17.7 $ 18.9 Our indebtedness as of June 30, 2026 and December 31, 2025 consists of various tranches of senior unsecured notes as shown in the table above. We also have secured credit facilities (the "Senior Secured Credit Facilities") which provide for our $ 650.0 million revolving credit facility (the "Revolving Credit Facility") and incremental availability under which additional debt can be issued. Refer to Note 14: Debt of our 2025 Annual Report for additional information related to our indebtedness. 13 Table of Contents Revolving Credit Facility As of June 30, 2026, we had $ 645.8 million available under the Revolving Credit Facility, net of $ 4.2 million of obligations in respect of outstanding letters of credit issued thereunder. Outstanding letters of credit are issued primarily for the benefit of certain operating activities. As of June 30, 2026, no amounts had been drawn against these outstanding letters of credit. During April 2026, the Company entered into a technical amendment to the Revolving Credit Facility correcting and clarifying certain details to conform the language with the intention of the Fourteenth Amendment that was signed in September 2025. Accrued Interest Accrued interest associated with our outstanding debt is included as a component of accrued expenses and other current liabilities in the condensed consolidated balance sheets. As of June 30, 2026 and December 31, 2025, accrued interest totaled $ 45.2 million and $ 48.6 million, respectively. 11. Commitments and Contingencies We are regularly involved in a number of claims and litigation matters that arise in the ordinary course of business. Although it is not feasible to predict the outcome of these matters, based upon our experience and current information known to us, we do not expect the outcome of these matters, either individually or in the aggregate, to have a material adverse effect on our results of operations, financial condition, and/or cash flows. Other Matters Following the February 2026 ruling by the United States Supreme Court striking down certain tariffs imposed under the International Emergency Economic Powers Act, U.S. Customs and Border Protection has since announced steps toward an administrative process to address potential tariff refunds. However, the availability, timing, and amount of any potential refunds remain uncertain and are subject to ongoing legal, regulatory, and administrative developments. 12. Shareholders' Equity Cash Dividends In the three and six months ended June 30, 2026, we paid aggregate cash dividends of $ 17.5 million and $ 34.9 million, respectively, compared to $ 17.6 million and $ 35.5 million in the three and six months ended June 30, 2025, respectively. In July 2026, we announced that our Board of Directors approved a quarterly dividend of $ 0.12 per share, payable in August 2026 to shareholders of record as of August 12, 2026. Treasury Shares From time to time, our Board of Directors has authorized various share repurchase programs, which may be modified or terminated by the Board at any time. Under these programs, we may repurchase ordinary shares at such times and in amounts to be determined by our management, based on market conditions, legal requirements, and other corporate considerations, on the open market or in privately negotiated transactions, provided that such transactions were completed pursuant to an agreement and with a third party approved by our shareholders at the annual general meeting. Ordinary shares repurchased by us are recognized, measured at cost, and presented as treasury shares on our consolidated balance sheets, resulting in a reduction of shareholders' equity. In September 2023, our Board of Directors authorized a $ 500.0 million ordinary share repurchase program (the “September 2023 Program”), which became effective on October 1, 2023. In the three months ended June 30, 2026 we did not purchase any shares under our share repurchase program. In the three months ended June 30, 2025, we repurchased 0.7 million ordinary shares for $ 20.1 million. In the six months ended June 30, 2026 and 2025, we repurchased 0.7 million and 4.2 million ordinary shares for $ 25.1 million and $ 120.6 million, respectively. All share repurchases in the three and six months ended June 30, 2026 and 2025 were made under the September 2023 Program. As of June 30, 2026, $ 257.3 million remained available for repurchase under the September 2023 Program. 14 Table of Contents Accumulated Other Comprehensive Income/Loss The following table presents the components of accumulated other comprehensive income/loss for the six months ended June 30, 2026: Cash Flow Hedges Defined Benefit and Retiree Healthcare Plans Cumulative Translation Adjustment Accumulated Other Comprehensive Income/Loss Balance as of December 31, 2025 $ 0.5 $ ( 10.3 ) $ 2.3 $ ( 7.4 ) Other comprehensive income before reclassifications, net of tax 17.9 — 17.8 35.7 Reclassifications from accumulated other comprehensive income/loss, net of tax 1.9 0.0 — 1.9 Other comprehensive income 19.8 0.0 17.8 37.6 Balance as of June 30, 2026 $ 20.3 $ ( 10.3 ) $ 20.1 $ 30.2 The following table presents the amounts reclassified from accumulated other comprehensive income/loss for the three and six months ended June 30, 2026 and 2025: For the three months ended June 30, For the six months ended June 30, Affected Line in Condensed Consolidated Statements of Operations Component 2026 2025 2026 2025 Derivative instruments designated and qualifying as cash flow hedges: Foreign currency forward contracts $ 2.8 $ 0.8 $ 7.9 $ ( 4.3 ) Net revenue (1) Foreign currency forward contracts ( 4.0 ) 4.4 ( 5.3 ) 7.5 Cost of revenue (1) Total, before taxes ( 1.2 ) 5.2 2.6 3.3 Income before taxes Income tax effect 0.3 ( 1.3 ) ( 0.7 ) ( 0.8 ) Provision for income taxes Total, net of taxes $ ( 0.9 ) $ 3.8 $ 1.9 $ 2.4 Net income Defined benefit and retiree healthcare plans Defined benefit and retiree healthcare plans $ 0.0 $ 0.0 $ 0.0 $ 0.0 Other, net Defined benefit and retiree healthcare plans — — — 0.7 Restructuring and other charges, net Total, before taxes 0.0 0.0 0.0 0.7 Income before taxes Income tax effect ( 0.0 ) ( 0.0 ) ( 0.0 ) ( 0.2 ) Provision for income taxes Total, net of taxes $ 0.0 $ 0.0 $ 0.0 $ 0.5 Net income ___________________________________ (1) Refer to Note 14: Derivative Instruments and Hedging Activities for additional information regarding amounts to be reclassified from accumulated other comprehensive income/loss in future periods. 15 Table of Contents 13. Fair Value Measures Measured on a Recurring Basis The fair values of our assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 are shown in the below table. June 30, 2026 December 31, 2025 Assets Cash equivalents (Level 1) $ 157.8 $ 406.1 Foreign currency forward contracts (Level 2) 28.5 18.3 Commodity forward contracts (Level 2) 10.6 21.2 Total $ 196.9 $ 445.6 Liabilities Foreign currency forward contracts (Level 2) $ 3.7 $ 17.4 Commodity forward contracts (Level 2) 0.8 0.3 Total $ 4.5 $ 17.7 Refer to Note 14: Derivative Instruments and Hedging Activities for additional information regarding our forward contracts. Cash equivalents consist of U.S. Government Treasury money market funds and are classified as Level 1 as they are exchange traded in an active market. Financial Instruments Not Recorded at Fair Value The following table presents the carrying values and fair values of financial instruments not recorded at fair value in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025. All fair value measures presented are categorized in Level 2 of the fair value hierarchy. June 30, 2026 December 31, 2025 Carrying Value (1) Fair Value Carrying Value (1) Fair Value Liabilities 4.0 % Senior Notes $ 239.9 $ 233.4 $ 646.0 $ 632.2 4.375 % Senior Notes $ 450.0 $ 437.9 $ 450.0 $ 439.8 5.875 % Senior Notes $ 500.0 $ 502.8 $ 500.0 $ 507.9 3.75 % Senior Notes $ 750.0 $ 702.4 $ 750.0 $ 703.1 6.625 % Senior Notes $ 500.0 $ 515.3 $ 500.0 $ 523.8 ___________________________________ (1) Excluding any related debt discounts, premiums, and deferred financing costs. We hold certain equity investments that do not have readily determinable fair values for which we use the measurement alternative prescribed in FASB ASC Topic 321. Such investments are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. As of June 30, 2026 and December 31, 2025, we held equity investments under the measurement alternative of $ 7.2 million and $ 7.3 million , respectively, which are presented in other assets in the condensed consolidated balance sheets. 16 Table of Contents 14. Derivative Instruments and Hedging Activities Foreign Currency Derivatives As of June 30, 2026, we had the following outstanding foreign currency forward contracts, which had the below hedge accounting designation in accordance with FASB ASC Topic 815, Derivatives and Hedging : Notional (in millions) Effective Date(s) Maturity Date(s) Index (Exchange Rates) Weighted-Average Strike Rate Hedge Designation (1) 387.7 EUR Various from July 2024 to June 2026 Various from July 2026 to June 2028 Euro ("EUR") to USD 1.18 USD Cash flow hedge 3,958.2 MXN Various from July 2024 to June 2026 Various from July 2026 to June 2028 USD to Mexican Peso ("MXN") 19.57 MXN Cash flow hedge 65.4 GBP Various from July 2024 to June 2026 Various from July 2026 to June 2028 British Pound Sterling ("GBP") to USD 1.33 USD Cash flow hedge Notional (in millions) Effective Date(s) Maturity Date(s) Index (Exchange Rates) Weighted-Average Strike Rate Hedge Designation (1) 485.8 KRW Various from August 2024 to September 2024 Various from July 2026 to July 2026 USD to Korean Won ("KRW") 1,305.21 KRW Not designated ___________________________________ (1) Derivative financial instruments not designated as hedges are used to manage our exposure to currency exchange rate risk. They are intended to preserve economic value, and they are not used for trading or speculative purposes. As of June 30, 2026, we estimate that $ 21.9 million of net gain will be reclassified from accumulated other comprehensive income/loss to earnings during the twelve-month period ending June 30, 2027. Financial Instrument Presentation The following table presents the fair values of our derivative financial instruments and their classification in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025: Asset Derivatives Liability Derivatives Balance Sheet Location June 30, 2026 December 31, 2025 Balance Sheet Location June 30, 2026 December 31, 2025 Derivatives designated as hedging instruments Foreign currency forward contracts Prepaid expenses and other current assets $ 22.9 $ 14.9 Accrued expenses and other current liabilities $ 3.3 $ 13.8 Foreign currency forward contracts Other assets 5.7 3.4 Other long-term liabilities 0.4 1.7 Total $ 28.5 $ 18.3 $ 3.7 $ 15.5 Derivatives not designated as hedging instruments Commodity forward contracts Prepaid expenses and other current assets $ 10.2 $ 17.0 Accrued expenses and other current liabilities $ 0.8 $ 0.3 Commodity forward contracts Other assets 0.3 4.2 Other long-term liabilities — — Foreign currency forward contracts Prepaid expenses and other current assets 0.0 0.4 Accrued expenses and other current liabilities 0.0 2.3 Total $ 10.6 $ 21.6 $ 0.8 $ 2.6 These fair value measurements were all categorized within Level 2 of the fair value hierarchy. 17 Table of Contents The following tables present the effect of our derivative financial instruments on the condensed consolidated statements of operations and the condensed consolidated statements of comprehensive income for the three months ended June 30, 2026 and 2025: Derivatives designated as hedging instruments Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive Income Location of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Income/Loss into Net Income Amount of Net Gain/(Loss) Reclassified from Accumulated Other Comprehensive Income/Loss into Net Income 2026 2025 2026 2025 Foreign currency forward contracts $ 4.0 $ ( 27.4 ) Net revenue $ ( 2.8 ) $ ( 0.8 ) Foreign currency forward contracts $ 8.5 $ 19.1 Cost of revenue $ 4.0 $ ( 4.4 ) Derivatives not designated as hedging instruments Amount of (Loss)/Gain Recognized in Net Income Location of (Loss)/Gain Recognized in Net Income 2026 2025 Commodity forward contracts $ ( 3.6 ) $ 1.6 Other, net Foreign currency forward contracts $ 0.5 $ ( 2.5 ) Other, net The following tables present the effect of our derivative financial instruments on the condensed consolidated statements of operations and the condensed consolidated statements of comprehensive income for the six months ended June 30, 2026 and 2025: Derivatives designated as hedging instruments Amount of Deferred Gain/(Loss) Recognized in Other Comprehensive Income Location of Net (Loss)/Gain Reclassified from Accumulated Other Comprehensive Income/Loss into Net Income Amount of Net (Loss)/Gain Reclassified from Accumulated Other Comprehensive Income/Loss into Net Income 2026 2025 2026 2025 Foreign currency forward contracts $ 14.9 $ ( 39.1 ) Net revenue $ ( 7.9 ) $ 4.3 Foreign currency forward contracts $ 9.3 $ 26.7 Cost of revenue $ 5.3 $ ( 7.5 ) Derivatives not designated as hedging instruments Amount of (Loss)/Gain Recognized in Net Income Location of (Loss)/Gain Recognized in Net Income 2026 2025 Commodity forward contracts $ 1.0 $ 6.0 Other, net Foreign currency forward contracts $ 0.5 $ ( 4.1 ) Other, net Credit Risk Related Contingent Features We have agreements with our derivative counterparties that contain a provision whereby if we default on our indebtedness and repayment of the indebtedness has been accelerated by the lender, then we could also be declared in default on our derivative obligations. As of June 30, 2026, the termination value of outstanding derivatives in a liability position, excluding any adjustment for non-performance risk, was $ 4.5 million. As of June 30, 2026, we had no t posted any cash collateral related to these agreements. If we breach any of the default provisions on any of our indebtedness as described above, we could be required to settle our obligations under the derivative agreements at their termination values. 15. Segment Reporting We present financial information for three reportable segments, Automotive, Industrials, and Aerospace, Defense, and Commercial Equipment. In the last quarter of 2025, we realigned our segments as a result of organizational changes that better allocate our resources to support changes to our business strategy. Refer to Note 1: Basis of Presentation for additional information. Our operating segments are business segments that we manage as components of an enterprise, for which separate financial information is evaluated regularly by our chief operating decision maker ("CODM"), who is our chief executive officer, in deciding how to allocate resources and assess performance. An operating segment’s performance is primarily evaluated based on segment operating income, which excludes amortization of intangible assets, impairment of goodwill and other intangible assets, restructuring charges, and certain corporate costs or credits not associated with the operations of the segment. Corporate and other costs excluded from a segment’s performance are separately stated below and include costs that are related to functional areas such as finance, information technology, legal, and human resources. The CODM uses operating income primarily in the annual budget and forecasting process. The CODM 18 Table of Contents considers budget-to-actual variances on a quarterly basis for operating income when making decisions about the allocation of resources to each segment. We believe that segment operating income, as defined above, is an appropriate measure for evaluating the operating performance of our segments. However, the measure should be considered in addition to, and not as a substitute for, or superior to, operating income or other measures of financial performance prepared with U.S. GAAP. The accounting policies of each of our operating and reportable segments are materially consistent with those described in Note 2: Significant Accounting Policies of the audited consolidated financial statements and notes thereto included in our 2025 Annual Report. The Automotive segment primarily serves the Automotive OEM and aftermarket industries through the development and manufacturing of sensors, high-voltage solutions (i.e., electrical protection components), and other solutions that are used in mission-critical systems and applications. Industrials primarily serves industrial customers through the development and manufacturing of a broad portfolio of application-specific sensor, power management, and electrical protection products used in a diverse range of industrial markets, including the appliance, HVAC, material handling, charging infrastructure, renewable energy generation, and microgrid applications and markets. The Aerospace, Defense, and Commercial Equipment segment primarily serves the aerospace, including commercial aircraft, defense, and commercial equipment, which includes on-road truck, construction, and agriculture markets, through the development and manufacture of a variety of sensors, electrical protection products, operator controls, and other solutions that are used in mission-critical systems and applications. 19 Table of Contents The following table presents net revenue, segment and non-segment operating expenses, and segment and non-segment operating income for the reportable segments and other operating results not allocated to our reportable segments for the three and six months ended June 30, 2026 and 2025: For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net revenue: Automotive (1) $ 544.8 $ 527.5 $ 1,074.1 $ 1,059.7 Industrials (1) 212.1 206.3 387.4 384.6 Aerospace, Defense, and Commercial Equipment (1) 233.7 209.7 464.0 410.3 Total net revenue $ 990.6 $ 943.4 $ 1,925.4 $ 1,854.6 Segment cost of revenue: Automotive $ 369.4 $ 366.3 $ 731.2 $ 738.1 Industrials 130.6 125.7 236.2 234.7 Aerospace, Defense, and Commercial Equipment 147.6 138.5 295.2 270.2 Total segment cost of revenue $ 647.6 $ 630.5 $ 1,262.7 $ 1,242.9 Segment operating expenses (2) : Automotive (1) $ 43.7 $ 40.1 $ 88.7 $ 81.9 Industrials (1) 24.1 22.7 47.3 46.2 Aerospace, Defense, and Commercial Equipment (1) 21.0 19.9 38.7 38.4 Total segment operating expenses $ 88.8 $ 82.7 $ 174.7 $ 166.5 Segment operating income (as defined above): Automotive (1) $ 131.7 $ 121.1 $ 254.1 $ 239.7 Industrials (1) 57.5 57.9 103.9 103.8 Aerospace, Defense, and Commercial Equipment (1) 65.1 51.2 130.1 101.7 Total segment operating income 254.2 230.2 488.1 445.2 Corporate and other (1) ( 74.8 ) ( 64.3 ) ( 147.6 ) ( 129.6 ) Amortization of intangible assets ( 15.7 ) ( 21.2 ) ( 31.5 ) ( 41.8 ) Restructuring and other charges, net 1.7 ( 6.6 ) ( 2.0 ) ( 13.6 ) Operating income 165.4 138.1 307.0 260.3 Interest expense ( 32.8 ) ( 37.7 ) ( 66.9 ) ( 75.7 ) Interest income 3.6 4.5 7.5 8.8 Other, net ( 3.6 ) 0.9 0.4 3.1 Income before taxes $ 132.5 $ 105.8 $ 248.0 $ 196.4 ___________________________________ (1) The amounts previously reported for the three and six months ended June 30, 2025 have been retrospectively recast to reflect the segment realignment as discussed in Note 1: Basis of Presentation . (2) Segment operating expenses include research, development, and engineering, and selling, general and administrative expenses associated with each segment. 20 Table of Contents The following table presents depreciation and amortization expense for our reportable segments and corporate and other for the three and six months ended June 30, 2026 and 2025: For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Depreciation and amortization: Automotive $ 19.8 $ 20.4 $ 39.7 $ 42.1 Industrials 2.5 3.0 5.2 5.9 Aerospace, Defense, and Commercial Equipment 3.8 4.7 8.0 9.0 Corporate and other (1) 23.2 26.4 46.1 59.1 Total depreciation and amortization $ 49.3 $ 54.5 $ 99.0 $ 116.1 __________________________ (1) Included within corporate and other is depreciation expense, amortization of intangible assets, and accelerated depreciation recognized in connection with restructuring actions. We do not allocate these amounts to our segments. This treatment is consistent with the financial information reviewed by our chief operating decision maker. The following table presents additions to property, plant and equipment ("PP&E") and capitalized software for our reportable segments and corporate and other for the three and six months ended June 30, 2026 and 2025: For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Additions to property, plant and equipment and capitalized software: Automotive $ 17.7 $ 18.5 $ 30.6 $ 41.3 Industrials 1.7 1.9 4.6 5.0 Aerospace, Defense, and Commercial Equipment 0.8 0.8 1.1 0.8 Corporate and other 3.3 4.2 5.3 10.9 Total additions to property, plant and equipment and capitalized software $ 23.6 $ 25.4 $ 41.5 $ 58.0 Geographic Area Information The following tables present net revenue by geographic area and by significant country for the three and six months ended June 30, 2026 and 2025. In these tables, net revenue is aggregated according to the location of our subsidiaries. For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net revenue: Americas $ 404.6 $ 380.0 $ 780.4 $ 752.5 Europe 269.8 265.2 537.7 517.7 Asia and rest of world 316.2 298.1 607.4 584.5 Net revenue $ 990.6 $ 943.4 $ 1,925.4 $ 1,854.6 For the three months ended For the six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net revenue: United States $ 394.5 $ 370.5 $ 760.2 $ 715.5 China 182.8 183.0 351.1 357.5 The Netherlands 228.6 226.1 456.9 443.9 United Kingdom 30.0 30.0 60.1 57.0 All other 154.7 133.8 297.2 280.7 Net revenue $ 990.6 $ 943.4 $ 1,925.4 $ 1,854.6 21 Table of Contents The following tables present PP&E, net, by geographic area and by significant country as of June 30, 2026 and December 31, 2025. In these tables, PP&E, net is aggregated based on the location of our subsidiaries. June 30, 2026 December 31, 2025 Property, plant and equipment, net: Americas $ 255.8 $ 262.3 Europe 125.4 135.4 Asia and rest of world 378.0 378.7 Property, plant and equipment, net $ 759.2 $ 776.5 June 30, 2026 December 31, 2025 Property, plant and equipment, net: United States $ 93.6 $ 99.4 China 256.2 254.3 Mexico 162.1 162.8 Bulgaria 93.4 99.4 United Kingdom 20.6 24.6 Malaysia 118.0 120.5 All other 15.3 15.5 Property, plant and equipment, net $ 759.2 $ 776.5 16. Disposals Magnetic Speed and Position Business ("MSP Business") In November 2024, we executed a purchase agreement whereby we agreed to sell the MSP Business to a third party. The closing of the transaction occurred in the first quarter of 2025, at which time net assets transferred to the Buyer. 17. Subsequent Events In July 2026, we entered into a settlement agreement with a customer related to the cancellation of an electric vehicle program. During the third quarter of 2026, we expect to receive a payment of $ 24.0 million from this customer under the terms of the settlement agreement. 22 Table of Contents Cautionary Statements Concerning Forward-Looking Statements This Quarterly Report on Form 10-Q includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as "may," "will," "could," "should," "expect," "anticipate," "believe," "estimate," "predict," "project," "forecast," "continue," "intend," "plan," "potential," "opportunity," "guidance," and similar terms or phrases. Forward-looking statements involve, among other things, expectations, projections, and assumptions about future financial and operating results, objectives, business and market outlook, trends, priorities, growth, shareholder value, capital expenditures, cash flows, demand for products and services, share repurchases, and Sensata’s strategic initiatives, including those relating to acquisitions and dispositions and the impact of such transactions on our strategic plans, operational plans, and financial results. These statements are subject to risks, uncertainties, and other important factors relating to our operations and business environment, and we can give no assurances that these forward-looking statements will prove to be correct. A wide variety of potential risks, uncertainties, and other factors could materially affect our ability to achieve the results either expressed or implied by these forward-looking statements, including, but not limited to, risks related to instability and changes in the global markets, supplier interruption or non-performance, changes in trade-related tariffs and risks with uncertain trade environments, the acquisition or disposition of businesses, variability in metals pricing, cybersecurity, adverse conditions or competition in the industries upon which we are dependent, intellectual property, product liability, warranty, and recall claims, public health crises, market acceptance of new product introductions and product innovations, labor disruptions or increased labor costs, and changes in existing environmental or safety laws, regulations, and programs. Investors and others should carefully consider the foregoing factors and other uncertainties, risks, and potential events including, but not limited to, those described in Item 1A: Risk Factors included in our 2025 Annual Report and as may be updated from time to time in Item 1A: Risk Factors included in our quarterly reports on Form 10-Q or other subsequent filings with the United States Securities and Exchange Commission. All such forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update these statements other than as required by law.