SXT

FORWARD-LOOKING STATEMENTS This report contains forward-looking statements that reflect management’s current assumptions and estimates of future economic circumstances, industry conditions, Company performance, and financial results. Forward-looking statements include statements in the future tense, statements referring to any period after June 30, 2026, and statements including the terms “expect,” “believe,” “anticipate,” and other similar terms that express expectations as to future events or conditions. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for such forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that could cause actual events to differ materially from those expressed in the forward-looking statements. A variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results. These factors and assumptions include, among others, the Company’s ability to manage general business, economic, and capital market conditions, including actions taken by customers in response to such market conditions, and the impact of recessions and economic downturns; the impact of macroeconomic and geopolitical volatility, including inflation and shortages impacting the availability and cost of raw materials, energy, and other supplies, disruptions and delays in the Company’s supply chain, and the conflicts between Russia and Ukraine and in the Middle East; industry, regulatory, legal, and economic factors related to the Company’s domestic and international business; the effects of tariffs, trade barriers, and disputes; the availability and cost of labor, logistics, and transportation; the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to anticipate and respond to changing consumer preferences, changing technologies, and changing regulations; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts, acquisition and divestiture activities, and Portfolio Optimization Plan; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors; the Company’s ability to enhance its innovation efforts and drive cost efficiencies; currency exchange rate fluctuations; and the matters discussed under Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Except to the extent required by applicable law, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. OVERVIEW Revenue Revenue was $462.1 million and $414.2 million for the three months ended June 30, 2026 and 2025, respectively. Revenue was $897.9 million and $806.6 million for the six months ended June 30, 2026 and 2025, respectively. The increase in revenue for the three and six months ended June 30, 2026 was primarily due to higher volumes and selling prices and the favorable impact of foreign exchange rates that increased revenue by approximately 2% and 3%, respectively. Gross Margin The Company’s gross margin was 37.4% and 34.5% for the three months ended June 30, 2026 and 2025, respectively. The Company’s gross margin was 36.2% and 34.0% for the six months ended June 30, 2026 and 2025, respectively. For the three and six months ended June 30, 2025, Portfolio Optimization Plan costs totaling $1.8 million and $3.6 million, respectively, decreased gross margin by 40 and 50 basis points, respectively. See Portfolio Optimization Plan below for further information. For the three and six months ended June 30, 2026, the Company received $4.8 million of tariff refunds that improved gross margin by 100 and 50 basis points, respectively. The Company’s gross margins for the three and six months ended June 30, 2026 were further impacted by the higher volumes and selling prices, partially offset by higher raw material costs. Selling and Administrative Expenses Selling and administrative expense as a percent of revenue was 20.8% and 20.6% for the three months ended June 30, 2026 and 2025, respectively. Selling and administrative expense as a percent of revenue was 20.3% for both the six months ended June 30, 2026 and 2025. For the three and six months ended June 30, 2025, selling and administrative expenses were increased by Portfolio Optimization Plan costs totaling $1.6 and $2.6 million, respectively, which increased selling and administrative expenses as a percent of revenue by approximately 40 basis points for each period. See Portfolio Optimization Plan below for further information. After the effects of the Portfolio Optimization Costs in 2025, the increase in selling and administrative expense as a percent of revenue for the three and six months ended June 30, 2026 was primarily due to higher performance-based executive compensation costs incurred in 2026. 15 Index Operating Income Operating income was $76.7 million and $57.7 million for the three months ended June 30, 2026 and 2025, respectively. Operating margins were 16.6% and 13.9% for the three months ended June 30, 2026 and 2025, respectively. Operating income was $143.4 million and $111.2 million for the six months ended June 30, 2026 and 2025, respectively. Operating margins were 16.0% and 13.8% for the six months ended June 30, 2026 and 2025, respectively. The tariff refunds increased operating margins by approximately 100 and 50 basis points for the three and six months ended June 30, 2026, respectively. Portfolio Optimization Plan costs decreased operating margins by approximately 80 basis points for both the three and six months ended June 30, 2025. The Company’s operating margins for the three and six months ended June 30, 2026 were further impacted by the higher volumes and selling prices, partially offset by higher raw material costs and higher performance-based executive compensation costs incurred in 2026. Interest Expense Interest expense was $8.2 million and $7.4 million for the three months ended June 30, 2026 and 2025, respectively, and $16.1 million and $14.7 million for the six months ended June 30, 2026 and 2025, respectively. The increase in expense for both the three and six months ended June 30, 2026 was primarily due to an increase in the average outstanding debt balance. Income Taxes The effective income tax rates for the three months ended June 30, 2026 and 2025 were 25.1% and 25.3%, respectively. For the six months ended June 30, 2026 and 2025, the effective income tax rates were 25.0% and 25.3%, respectively. The effective tax rates for the three and six months ended June 30, 2026 and 2025 were both impacted by the mix of foreign earnings and changes in estimates associated with the finalization of prior year foreign tax items. Acquisition On February 14, 2025, the Company acquired Biolie SAS, a natural color extraction business located in France. The Company paid $4.9 million in cash for this acquisition, which is net of $0.2 million in debt assumed. The assets acquired and liabilities assumed were recorded at their estimated fair value as of the acquisition date. The Company acquired net assets of $0.3 million, with the remaining $4.6 million allocated to goodwill. This business is part of the Color segment. Portfolio Optimization Plan During the fourth quarter of 2023, the Board of Directors of the Company approved a plan to undertake an effort to optimize certain production facilities and improve efficiencies within the Company (Portfolio Optimization Plan). As part of the Portfolio Optimization Plan, in the Flavors & Extracts segment, the Company evaluated the closure of its manufacturing facility in Felinfach, Wales, United Kingdom, the closure of its sales office in Granada, Spain, and the centralization and elimination of certain selling and administrative positions. In addition, in the Color segment, the Company evaluated the closure of a manufacturing facility in Delta, British Columbia, Canada, the closure of a sales office in Argentina, and centralizing and eliminating certain production positions and selling and administrative positions. The Company reports all costs associated with the Portfolio Optimization Plan in the Corporate & Other segment. The Company’s Felinfach site was shut down in May 2025, and all production activities have been transferred to other locations. The Company began marketing the Felinfach site for sale in June 2025, at which point the held for sale criteria was met. These are the sole assets recorded in Fixed assets held for sale on the Company’s Consolidated Balance Sheet at December 31, 2025. The Company sold the land and building assets in February 2026 for approximately $2.0 million, resulting in a $0.4 million gain recognized in Selling and Administrative Expenses on the Company’s Consolidated Statements of Earnings during the three months ended March 31, 2026. The Company has completed all actions contemplated under the Portfolio Optimization Plan. For the three and six months ended June 30, 2025, the Company incurred costs of $3.3 million and $6.2 million, respectively, related to the Portfolio Optimization Plan recorded in Corporate & Other, primarily for dual plant operating costs, professional services, non-cash inventory charges, decommissioning costs, and employee separation costs. The Company did not incur any costs related to the Portfolio Optimization Plan for the three or six months ended June 30, 2026. 16 Index NON-GAAP FINANCIAL MEASURES Within the following tables, the Company reports certain non-GAAP financial measures, including: (1) adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which exclude restructuring and other costs, including the Portfolio Optimization Plan costs, (2) percentage changes in revenue, operating income, and diluted earnings per share on an adjusted local currency basis, which eliminate the effects that result from translating its international operations into U.S. dollars and restructuring and other costs, including the Portfolio Optimization Plan costs, and (3) adjusted EBITDA, which excludes restructuring and other costs, including the Portfolio Optimization Plan costs, and non-cash share based compensation expense. The Company has included each of these non-GAAP measures in order to provide additional information regarding our underlying operating results and comparable year-over-year performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this report. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and the Company believes the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies. Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2026 2025 % Change 2026 2025 % Change Operating Income (GAAP) $ 76,700 $ 57,706 32.9 % $ 143,428 $ 111,236 28.9 % Portfolio Optimization Plan costs – Cost of products sold - 1,789 - 3,603 Portfolio Optimization Plan costs – Selling and administrative expenses - 1,550 - 2,600 Adjusted operating income $ 76,700 $ 61,045 25.6 % $ 143,428 $ 117,439 22.1 % Net Earnings (GAAP) $ 51,359 $ 37,587 36.6 % $ 95,529 $ 72,049 32.6 % Portfolio Optimization Plan costs, before tax - 3,339 - 6,203 Tax impact of Portfolio Optimization Plan costs(1) - (815 ) - (1,517 ) Adjusted net earnings $ 51,359 $ 40,111 28.0 % $ 95,529 $ 76,735 24.5 % Diluted earnings per share (GAAP) $ 1.20 $ 0.88 36.4 % $ 2.24 $ 1.69 32.5 % Portfolio Optimization Plan costs, net of tax - 0.06 - 0.11 Adjusted diluted earnings per share $ 1.20 $ 0.94 27.7 % $ 2.24 $ 1.80 24.4 % Operating Income (GAAP) $ 76,700 $ 57,706 32.9 % $ 143,428 111,236 28.9 % Depreciation and amortization 15,890 15,260 31,428 30,334 Share-based compensation expense 5,604 3,739 9,380 6,639 Portfolio Optimization Plan costs, before tax - 3,339 - 6,203 Adjusted EBITDA $ 98,194 $ 80,044 22.7 % $ 184,236 $ 154,412 19.3 % (1) Tax impact adjustments were determined based on the nature of the underlying non-GAAP adjustments and their relevant jurisdictional tax rates. Portfolio Optimization Plan costs are discussed under “Portfolio Optimization Plan” above and Note 3, Portfolio Optimization Plan, in the Notes to the Consolidated Financial Statements included in this report. Note: Earnings per share calculations may not foot due to rounding differences. 17 Index The following table summarizes the percentage change for the results of the three and six months ended June 30, 2026, compared to the results for the three and six months ended June 30, 2025, in the respective financial measures. Three Months Ended June 30, 2026 Six Months Ended June 30, 2026 Revenue Total Foreign Exchange Rates Adjustments(1) Adjusted Local Currency Total Foreign Exchange Rates Adjustments(1) Adjusted Local Currency Flavors & Extracts 4.9 % 1.1 % N/A 3.8 % 4.6 % 1.8 % N/A 2.8 % Color 20.6 % 3.0 % N/A 17.6 % 19.4 % 4.3 % N/A 15.1 % Asia Pacific 11.3 % (1.0 %) N/A 12.3 % 9.7 % 1.2 % N/A 8.5 % Total Revenue 11.6 % 1.7 % N/A 9.9 % 11.3 % 2.7 % N/A 8.6 % Operating Income Flavors & Extracts 6.8 % 0.7 % 0.0 % 6.1 % 6.9 % 1.3 % 0.0 % 5.6 % Color 40.1 % 3.3 % 0.0 % 36.8 % 30.9 % 5.3 % 0.0 % 25.6 % Asia Pacific 22.6 % (1.2 %) 0.0 % 23.8 % 20.4 % 1.4 % 0.0 % 19.0 % Corporate & Other 2.9 % 0.0 % (22.4 %) 25.3 % (5.7 %) 0.0 % (20.8 %) 15.1 % Total Operating Income 32.9 % 2.3 % 7.2 % 23.4 % 28.9 % 4.3 % 6.6 % 18.0 % Diluted Earnings per Share 36.4 % 3.4 % 7.5 % 25.5 % 32.5 % 4.7 % 7.8 % 20.0 % Adjusted EBITDA 22.7 % 1.9 % N/A 20.8 % 19.3 % 3.5 % N/A 15.8 % (1) Adjustments consist of Portfolio Optimization Plan costs. Note: Refer to table above for a reconciliation of these non-GAAP measures. SEGMENT INFORMATION The Company determines its operating segments based on information utilized by its chief operating decision maker to allocate resources and assess performance. Segment performance is evaluated on operating income before share-based compensation (except for share-based compensation expense associated with stock grants to certain business unit leaders), restructuring and other costs, including the Portfolio Optimization Plan costs, and other costs (which are reported in Corporate & Other), interest expense, and income taxes. The Company’s reportable segments consist of the Flavors & Extracts, Color, and Asia Pacific segments. Flavors & Extracts Flavors & Extracts segment revenue was $213.2 million and $203.3 million for the three months ended June 30, 2026 and 2025, respectively, an increase of approximately 5%. The increase was a result of higher revenue in Agricultural Ingredients and Flavors, Extracts & Flavor Ingredients. The higher revenue in Agricultural Ingredients was due to higher volumes and selling prices. The higher revenue in Flavors, Extracts & Flavor Ingredients was primarily due to higher selling prices and the favorable impact of foreign exchange rates that increased segment revenue by approximately 1%. Flavors & Extracts segment revenue was $415.0 million and $396.9 million for the six months ended June 30, 2026 and 2025, respectively, an increase of approximately 5%. The increase was a result of higher revenue in Flavors, Extracts & Flavor Ingredients and Agricultural Ingredients. The higher revenue in Flavors, Extracts & Flavor Ingredients was primarily due to higher selling prices and the favorable impact of foreign exchange rates that increased segment revenue by approximately 2%. The higher revenue in Agricultural Ingredients was due to higher volumes and selling prices. Flavors & Extracts segment operating income was $30.4 million and $28.5 million for the three months ended June 30, 2026 and 2025, respectively, an increase of approximately 7%. The higher segment operating income was primarily a result of higher operating income in Agricultural Ingredients, primarily due to higher selling prices and favorable product mix, partially offset by higher raw material costs. Segment operating income as a percent of revenue was 14.3% in the current quarter compared to 14.0% in the prior year’s comparable quarter. Foreign exchange rates increased segment operating income by approximately 1% for the three months ended June 30, 2026. Flavors & Extracts segment operating income was $57.2 million and $53.5 million for the six months ended June 30, 2026 and 2025, respectively, an increase of approximately 7%. The higher segment operating income was a result of higher operating income in Flavors, Extracts & Flavor Ingredients and Agricultural Ingredients. The higher segment operating income for Flavors, Extracts & Flavor Ingredients was primarily due to higher selling prices, favorable product mix, and higher volumes, partially offset by higher manufacturing and other costs. The higher segment operating income for Agricultural Ingredients was primarily due to higher selling prices. Segment operating income as a percent of revenue was 13.8% in the current six month period compared to 13.5% in the prior year’s comparable six month period. Foreign exchange rates increased segment operating income by approximately 1% for the six months ended June 30, 2026. 18 Index Color Segment revenue for the Color segment was $216.1 million and $179.3 million for the three months ended June 30, 2026 and 2025, respectively, an increase of approximately 21%. The increase was a result of higher revenue in Food & Pharmaceutical Colors and Personal Care. The higher revenue in Food & Pharmaceutical Colors was due to higher volumes, including higher volumes associated with natural colors conversion activity, the favorable impact of foreign exchange rates, and higher selling prices. The higher revenue in Personal Care was due to higher volumes, the favorable impact of foreign exchange rates, and higher selling prices. Foreign exchange rates increased segment revenue by approximately 3% for the three months ended June 30, 2026. Segment revenue for the Color segment was $414.3 million and $347.0 million for the six months ended June 30, 2026 and 2025, respectively, an increase of approximately 19%. The increase was a result of higher revenue in Food & Pharmaceutical Colors and Personal Care. The higher revenue in Food & Pharmaceutical Colors was due to higher volumes, including higher volumes associated with natural colors conversion activity, the favorable impact of foreign exchange rates, and higher selling prices. The higher revenue in Personal Care was due to the favorable impact of foreign exchange rates, higher volumes, and higher selling prices. Foreign exchange rates increased segment revenue by approximately 4% for the six months ended June 30, 2026. Segment operating income for the Color segment was $54.5 million and $38.9 million for the three months ended June 30, 2026 and 2025, respectively, an increase of approximately 40%. The higher segment operating income was a result of higher operating income in Food & Pharmaceutical Colors and Personal Care. The higher operating income in Food & Pharmaceutical Colors was primarily due to higher volumes, the favorable impact of tariff refunds received, higher selling prices, and a favorable product mix, partially offset by higher raw material costs. The higher operating income in Personal Care was primarily due to higher volumes and selling prices and the favorable impact of tariff refunds received, partially offset by higher manufacturing and other costs. Foreign exchange rates increased segment operating income by approximately 3% for the three months ended June 30, 2026. Segment operating income as a percent of revenue was 25.2% in the current quarter and 21.7% in the prior year’s comparable quarter. Segment operating income for the Color segment was $96.6 million and $73.8 million for the six months ended June 30, 2026 and 2025, respectively, an increase of approximately 31%. The higher segment operating income was a result of higher operating income in Food & Pharmaceutical Colors and Personal Care. The higher operating income in Food & Pharmaceutical Colors was due to higher volumes and selling prices, the favorable impact of tariff refunds received, the favorable impact of foreign exchange rates, and a favorable product mix, partially offset by higher raw material and manufacturing and other costs. The higher operating income in Personal Care was primarily due to higher selling prices and volumes, the favorable impact of tariff refunds received, and the favorable impact of foreign exchange rates, partially offset by higher manufacturing and other costs. Foreign exchange rates increased segment operating income by approximately 5% for the six months ended June 30, 2026. Segment operating income as a percent of revenue was 23.3% in the current six month period and 21.3% in the prior year’s comparable period. Asia Pacific Segment revenue for the Asia Pacific segment was $47.6 million and $42.7 million for the three months ended June 30, 2026 and 2025, respectively, an increase of approximately 11%. The increase was a result of higher volumes and selling prices, partially offset by the unfavorable impact of foreign exchange rates that decreased segment revenue by approximately 1%. Segment revenue for the Asia Pacific segment was $92.8 million and $84.6 million for the six months ended June 30, 2026 and 2025, respectively, an increase of approximately 10%. The increase was a result of higher volumes and selling prices and the favorable impact of foreign exchange rates that increased segment revenue by approximately 1%. Segment operating income for the Asia Pacific segment was $11.0 million and $8.9 million for the three months ended June 30, 2026 and 2025, respectively, an increase of approximately 23%. The increase was primarily due to higher volumes and selling prices, partially offset by higher manufacturing and other costs and the unfavorable impact of foreign exchange rates that decreased segment operating income by approximately 1%. Segment operating income as a percent of revenue was 23.0% in the current quarter and 20.9% in the prior year’s comparable quarter. Segment operating income for the Asia Pacific segment was $22.1 million and $18.4 million for the six months ended June 30, 2026 and 2025, respectively, an increase of approximately 20%. The increase was primarily due to higher volumes and selling prices and the favorable impact of foreign exchange rates that increased segment operating income by approximately 1%, partially offset by higher manufacturing and other costs. Segment operating income as a percent of revenue was 23.8% in the current six month period and 21.7% in the prior year’s comparable period. 19 Index Corporate & Other The Corporate & Other operating expense was $19.2 million and $18.7 million for the three months ended June 30, 2026 and 2025, respectively. The higher operating expense was primarily due to higher performance-based executive compensation costs incurred in 2026, partially offset by Portfolio Optimization Plan costs totaling $3.3 million in the three months ended June 30, 2025. See the Portfolio Optimization Plan section above for further information. The Corporate & Other operating expense was $32.5 million and $34.4 million for the six months ended June 30, 2026 and 2025, respectively. The lower operating expense was primarily due to Portfolio Optimization Plan costs totaling $6.2 million in the six months ended June 30, 2025, partially offset by higher performance-based executive compensation costs incurred in 2026. See the Portfolio Optimization Plan section above for further information. LIQUIDITY AND FINANCIAL CONDITION Financial Condition The Company’s financial position remains strong. The Company is in compliance with its loan covenants calculated in accordance with applicable agreements as of June 30, 2026. The Company expects to increase its existing indebtedness in the short-term to further support the increased cash requirements for operations and capital expenditures associated with the natural colors conversion activity. In the long-term, the Company anticipates that its cash flow from operations and debt capacity can be used to meet anticipated future cash requirements for operations, capital expenditures, and dividend payments, as well as potential acquisitions and stock repurchases. The Company’s contractual obligations consist primarily of operational commitments, which we expect to continue to be able to satisfy through cash generated from operations, and debt. The Company has various series of notes outstanding that mature from 2026 through 2030. The Company believes that it has the ability to refinance or repay these obligations through a combination of cash flow from operations, issuance of additional notes, and sufficient borrowing capacity under the Company’s revolving credit facility, which matures in 2030. As a result of our ability to manage the impact of inflation through pricing and other actions, the impact of inflation was not material to the Company’s financial position and its results of operations for the three months ended June 30, 2026. The Company has experienced increased costs for certain inputs, such as raw materials, energy, shipping and logistics, packaging, and labor-related costs. We continue to expect to manage these impacts in the near term, but persistent, accelerated, or expanded inflationary conditions, including any heightened inflationary pressures resulting from the conflict between the United States and Iran and its aftermath, could exacerbate these challenges and impact our profitability. The Company continues to monitor developments with respect to tariffs and other trade policy matters closely, including impacts from the U.S. Supreme Court decision that struck down tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) and other litigation, as well as the implementation of additional tariffs. As of June 30, 2026, we have received approximately $5 million of IEEPA tariff refunds, which included applicable interest. We do not anticipate receiving any further tariff refunds in the future. The tariffs imposed by the United States, and retaliatory tariffs imposed by other countries on United States exports, have led to significant volatility and uncertainty in global markets. As a result of these ongoing tariff-related actions, the Company anticipates incurring incremental tariff costs on certain raw materials to produce our products and certain finished goods shipped to customers. However, the Company expects to manage the impact of the increased tariff costs through pricing actions. To the extent the Company is unable to offset the increased tariff costs, or the tariffs negatively impact demand, or other trade barriers are implemented, the Company’s revenue and profitability would be adversely impacted. If additional tariffs are adopted, the Company would incur additional tariff costs that could be material. On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the United States. The OBBBA includes a broad range of tax reform provisions, such as the extension of certain expiring provisions, modifications to the international tax framework, and the continuation of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions implemented through 2027. These provisions did not have a material impact on our effective tax rate for the three or six months ended June 30, 2026. We will continue to assess the OBBBA tax provisions and their impacts on our consolidated financial statements. Cash Flows from Operating Activities Net cash provided by operating activities was $34.8 million and $39.3 million for the six months ended June 30, 2026 and 2025, respectively. The decrease in net cash provided by operating activities was primarily due to an increase in cash used by inventory during 2026 compared to 2025 and a decrease in cash provided by accounts receivable, partially offset by an increase in cash provided by accounts payable and other accrued expenses. Cash Flows from Investing Activities Net cash used in investing activities was $65.8 million and $41.5 million during the six months ended June 30, 2026 and 2025, respectively. Capital expenditures were $67.5 million and $38.0 million during the six months ended June 30, 2026 and 2025, respectively. In 2026, the Company received $2.0 million for the sale of the Felinfach land and building assets. In 2025, the Company paid $4.9 million for the acquisition of Biolie SAS. 20 Index Cash Flows from Financing Activities Net cash provided by financing activities was $23.5 million and $26.0 million for the six months ended June 30, 2026 and 2025, respectively. Net debt increased by $62.8 million and $63.3 million for the six months ended June 30, 2026 and 2025, respectively. The cash proceeds from the increase in net debt in the current period were primarily used to support natural color conversion capital expenditure investments during the six months ended June 30, 2026. For purposes of the cash flow statement, net changes in debt exclude the impact of foreign exchange rates. Dividends of $34.9 million and $34.7 million were paid during the six months ended June 30, 2026 and 2025, respectively. Total dividends of $0.82 per share were paid for both the six months ended June 30, 2026 and 2025. CRITICAL ACCOUNTING POLICIES There have been no material changes in the Company’s critical accounting policies during the quarter ended June 30, 2026. For additional information about the Company’s critical accounting policies, refer to “Critical Accounting Policies” under