HLI

Market Risk and Credit Risk There has been no material change in our exposure to market risk from that described in Part II, Item 7A of our 2026 Annual Report. Risks Related to Cash and Short-Term Investments There has been no material change in our exposure to risks related to our cash and short-term investments from that described in Part II, Item 7A of our 2026 Annual Report. Exchange Rate Risk The exchange rate of the U.S. Dollar relative to the currencies in the non-U.S. countries in which we operate may have an effect on the reported value of our non-U.S. Dollar denominated or non-U.S.-based assets and liabilities and, therefore, may be reflected as a change in other comprehensive income, net of tax. Our non-U.S. assets and liabilities that are sensitive to exchange rates consist primarily of trade payables and receivables, work in progress, and cash. For the three months ended June 30, 2026 and 2025, the net impact of the fluctuation of foreign currencies in other comprehensive income within the Consolidated Statements of Comprehensive Income was $(2) million and $48 million, respectively. A hypothetical 10% depreciation in the U.S. Dollar relative to the functional currencies of our foreign subsidiaries as of June 30, 2026, would have resulted in an increase in our other comprehensive income, net of tax, of approximately $114 million for the three months ended June 30, 2026. For additional discussion on our exchange rate risk, refer to Part II, Item 7A of our 2026 Annual Report. Additionally, refer to Note 2 for disclosures regarding foreign currency forward contracts which we may use from time to time to hedge our foreign currency exposures.

From time to time, we may be subject to legal proceedings and claims in the ordinary course of business. There has been no material change in the nature of our legal proceedings from the descriptions contained in our 2026 Annual Report.

There have been no material changes to the risk factors disclosed in our 2026 Annual Report. 23