Our investment portfolio is actively managed and may suffer losses from fluctuating interest rates, market prices, or adverse security selection. These accounts may consist of stocks, bonds, options, mutual funds, money market funds, or exchange-traded products that replicate the model portfolios and strategies created by Morningstar. These investment accounts may also include exchange-traded products where Morningstar is an index provider. As of June 30, 2026, our cash, cash equivalents, and investments balance was $523.8 million. Based on our estimates, a 100 basis-point change in interest rates would not have a material effect on the fair value of our investment portfolio. We are subject to risk from fluctuations in the interest rates related to a portion of our long-term debt. The interest rates are based upon the applicable SOFR plus an applicable margin for such loans or the lender's base rate plus an applicable margin for such loans. On an annualized basis, we estimate a 100 basis-point change in the SOFR would have a $13.7 million impact on our interest expense based on our outstanding principal balance and SOFR at June 30, 2026. We are subject to risk from fluctuations in foreign currencies from our operations outside of the US. We do not currently have any positions in derivative instruments to hedge our foreign currency risk. The table below shows our exposure to foreign currency denominated revenue and operating income for the six months ended June 30, 2026: Six months ended June 30, 2026 (in millions, except foreign currency rates) Australian Dollar British Pound Canadian Dollar Euro Other Foreign Currencies Currency rate in US dollars as of June 30, 2026 0.6895 1.3244 0.7034 1.1409 n/a Percentage of revenue 2.8 % 7.4 % 6.8 % 6.1 % 5.0 % Percentage of operating income (loss) 4.6 % (1.6) % 11.2 % 6.5 % (8.3) % Estimated effect of a 10% adverse currency fluctuation on revenue $ (3.6) $ (9.5) $ (8.7) $ (7.8) $ (6.4) Estimated effect of a 10% adverse currency fluctuation on operating income (loss) $ (1.4) $ 0.5 $ (3.4) $ (2.0) $ 2.6 The table below shows our net investment exposure to foreign currencies as of June 30, 2026: As of June 30, 2026 (in millions) Australian Dollar British Pound Canadian Dollar Euro Other Foreign Currencies Assets, net of unconsolidated entities $ 81.3 $ 306.4 $ 237.0 $ 255.7 $ 271.2 Less: liabilities (27.2) (78.3) (58.9) (113.3) (126.4) Net currency position $ 54.1 $ 228.1 $ 178.1 $ 142.4 $ 144.8 Estimated effect of a 10% adverse currency fluctuation on equity $ (5.4) $ (22.8) $ (17.8) $ (14.2) $ (14.5) 43 Table of Contents