We have exposure to market risks due to the volatility of interest rates, foreign currency exchange rates, commodity prices, credit rating changes and equity and bond markets. A portion of these risks may be hedged, but fluctuations could impact our results of operations, financial position and cash flows. Interest Rate Risk. Our exposure to market risk for changes in interest rates relates primarily to our cash investment portfolio. As of July 3, 2026, we had immaterial available-for-sale investments, none of which had been in a continuous unrealized loss position for a period greater than 12 months. We have fixed rate debt obligations, which we enter into for general corporate purposes including capital expenditures and working capital needs. 43 Table of Contents The table below presents principal amounts and related fixed or weighted-average interest rates by year of maturity for our investment portfolio and debt obligations as of July 3, 2026. (Dollars in millions, except percentages) Fiscal Years Ended Fair Value at July 3, 2026 2027 2028 2029 2030 2031 Thereafter Total Assets Money market funds, time deposits and certificates of deposit Floating rate $ 475 $ — $ — $ — $ — $ — $ 475 $ 475 Average interest rate 3.59 % — % — % — % — % — % 3.59 % Debt Fixed rate $ — $ 186 $ 381 $ 636 $ 599 $ 1,801 $ 3,603 $ 5,511 Average interest rate — % 3.50 % 4.09 % 7.15 % 5.29 % 8.05 % 6.78 % Foreign Currency Exchange Risk. From time to time, we may enter into foreign currency forward exchange contracts to manage exposure related to certain foreign currency commitments and anticipated foreign currency denominated expenditures. Our policy prohibits us from entering into derivative financial instruments for speculative or trading purposes. We hedge portions of our foreign currency denominated balance sheet positions with foreign currency forward exchange contracts to reduce the risk that our earnings will be adversely affected by changes in currency exchange rates. The change in fair value of these contracts is recognized in earnings in the same period as the gains and losses from the remeasurement of the assets and liabilities. All foreign currency forward exchange contracts mature within 12 months. The table below provides information as of July 3, 2026 about our foreign currency forward exchange contracts. The table is provided in dollar equivalent amounts and presents the notional amounts (at the contract exchange rates) and the weighted-average contractual foreign currency exchange rates. (Dollars in millions, except average contract rate) Notional Amount Average Contract Rate Estimated Fair Value(1) Foreign currency forward exchange contracts: British Pound Sterling $ 38 0.76 $ — Chinese Renminbi 43 6.80 — Singapore Dollar 66 1.29 — Thai Baht 83 33.34 1 Total $ 230 $ 1 ___________________________________________________________________________________ (1) Equivalent to the unrealized net gain (loss) on existing contracts. Commodity Price Risk. We are exposed to commodity price risk due to changes in the prices of precious metals used in the manufacturing of our products, which could have an impact on our financial results. From time to time, we may use commodity forward contracts to manage exposure related to certain precious metal purchase commitments. The notional amount of the forward contracts was not material as of July 3, 2026 and hence the potential impact in fair value for such financial instruments from a 10% unfavorable change in quoted commodity prices would not be material. Other Market Risks. We have exposure to counterparty credit downgrades in the form of credit risk related to our foreign currency forward exchange contracts, our commodity forward contracts and our fixed income portfolio. We monitor and limit our credit exposure for our foreign currency forward exchange contracts by performing ongoing credit evaluations. We also manage the notional amount of contracts entered into with any one counterparty and we maintain limits on maximum tenor of contracts based on the credit rating of the financial institution. Additionally, the investment portfolio is diversified and structured to minimize credit risk. Changes in our corporate issuer credit ratings have minimal impact on our near-term financial results, but downgrades may negatively impact our future ability to raise capital, our ability to execute transactions with various counterparties, and may increase the cost of such capital. We are subject to equity market risks due to changes in the fair value of the notional investments selected by our employees as part of our non-qualified deferred compensation plan—the SDCP. 44 Table of Contents We entered into a Total Return Swap (“TRS”) in order to manage the equity market risks associated with the SDCP liabilities. We pay a floating rate, based on SOFR plus an interest rate spread, on the notional amount of the TRS. The TRS is designed to substantially offset changes in the SDCP liabilities due to changes in the value of the investment options made by employees. 45 Table of Contents