Disclosures About Market Risk We are exposed to market risk in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. Our market risk exposure is primarily a result of foreign currency exchange rates and interest rates, which are discussed in detail below. Foreign currency risk The U.S. dollar is our functional currency. Substantially all of our revenue was denominated in U.S. dollars for the years ended 2025 and 2024, however certain expenses comprising our cost of revenue and operating expenses were denominated in NIS, mainly payroll and rent. We also have expenses in other currencies, in particular the EUR and GBP, although to a much lesser extent. A decrease of 5% in the U.S. dollar/NIS exchange rate would have increased our cost of revenue and operating expenses by approximately 1.1% and 1.2% for the years ended December 31, 2025, and 2024, respectively. If the NIS fluctuates significantly against the U.S. dollar, it may have a negative impact on our results of operations. During the years 2025 and 2024, we entered into forward, put and call option contracts to hedge certain forecasted payroll payments denominated in NIS, against exchange rate fluctuations of the U.S. dollar. We had outstanding contracts that were designated as hedging instruments in cash flow hedges, in the aggregate notional amount of $28.0 million and $54.0 million as of December 31, 2025, and December 31, 2024, respectively. The fair value of the outstanding contracts amounted to an asset of $3.6 million and $1.4 million as of December 31, 2025, and 2024, respectively. These assets were recorded under other receivables. Gains of $6.2 million and $0.2 million were reclassified from accumulated other comprehensive income during the years ended December 31, 2025, and 2024, respectively. Such gains were reclassified from accumulated other comprehensive income when the related expenses were incurred. Interest rate risk Our investments are subject to market risk due to changes in interest rates, which may affect our interest income and fair market value of our investments. To minimize this risk, we maintain our portfolio in a variety of high-grade securities, including treasury, corporate and municipal bonds. The primary objectives of our investment activities are to support liquidity, preserve principal and to maximize income without significantly increasing risk.