ACCO

Introduction Management’s Discussion and Analysis of Financial Condition and Results of Operations for the three and six months ended June 30, 2026 and 2025 should be read in conjunction with the unaudited condensed consolidated financial statements of ACCO Brands Corporation and the accompanying notes contained therein. Overview of the Company ACCO Brands is a leading global consumer, technology and business branded products company, providing well-known brands and innovative product solutions used in schools, homes and at work. These brands include At-A-Glance®, Barrilito®, EPOS®, Esselte®, Five Star®, Foroni®, GBC®, Hilroy®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Swingline®, Tilibra® and others. Our products are sold primarily in the U.S., Europe, Australia, Canada, Brazil and Mexico. The Company has two operating segments, Americas and International. Each operating segment designs, markets, sources, manufactures, and sells recognized consumer, technology and business branded products used in schools, homes and at work. Product designs are tailored to end-user preferences in each geographic region, and where possible, leverage common engineering, design, and sourcing. Our product categories include gaming and computer accessories; storage and organization; notebooks; shredding; laminating and binding machines; stapling; punching; planners; dry erase boards; and do-it-yourself tools, among others. We distribute our products through a wide variety of channels to ensure that our products are readily and conveniently available for purchase by consumers and other end-users, wherever they prefer to shop. These channels include mass retailers, e-tailers, discount, drug/grocery and variety chains, warehouse clubs, hardware and specialty stores, independent office product dealers, office superstores, wholesalers, contract stationers, and specialty technology distributors. We also sell directly through e-commerce sites and our direct sales organization. On January 30, 2026, we completed the acquisition of EPOS from Demant A/S ("EPOS"), a leading Danish hearing healthcare company. Based in Copenhagen, Denmark, EPOS provides a comprehensive range of premium enterprise wired and wireless headsets, and other audio solutions, that build on over a century of research in psychoacoustics. The EPOS product line is designed to reduce listening fatigue, improve voice clarity and support cognitive performance. EPOS complements our global computer accessories portfolio and expands on our strategy into growing technology peripherals. Overview of Performance The second quarter benefited from the acquisition of EPOS and favorable foreign exchange. The Company continues to be impacted by softer global demand primarily due to lower consumer and office spending and geopolitical instability. We expect these collective global trends and the impact of evolving trade policy to continue to impact our results of operations. During the second quarter, our net sales increased $20.3 million, or 5.1 percent, compared to the prior year's second quarter. The net sales increase reflects the acquisition of EPOS and favorable foreign exchange. Growth in the Americas segment's learning and creative category was partially offset by organic declines within the International segment. We reported operating income of $30.3 million in the second quarter, compared to $33.0 million in the prior year's second quarter. The decline reflects the gain on sale of property in the prior year, as well as the amortization of inventory step-up and a Brazil indirect tax in the current year, which more than offset the increase in gross profit and reduction in restructuring expense. 30 Our operating cash flow for the first six months was cash used of $31.8 million compared to cash used of $33.4 million in the prior year primarily reflecting reductions in working capital. Our operating cash flow continues to be seasonal with a historic pattern of strong inflows during the second half of the year. Tariffs In reaction to the evolving tariff landscape, we have taken, and will continue to take, a number of actions: •Communicated and implemented price increases in the U.S., •Moved sourcing of our U.S. products to countries where we believe tariffs will be lower over the long term, •Negotiated with suppliers on best terms, and •Expanded our SKU rationalization in the U.S. and offered our customers item substitutions for high-cost products. In February 2026, the U.S. Supreme Court overturned the temporary tariffs imposed in the prior year under IEEPA, reducing the impact of U.S. tariffs on imported goods prospectively. In March 2026, the CIT directed the CBP to begin refunding all tariffs imposed under IEEPA. In April 2026, the CBP launched the CAPE process, which allows entities to submit refund claims for IEEPA tariffs paid. We submitted claims seeking approximately $20.6 million of previously paid IEEPA tariffs through CAPE, which we expect to receive during the second half of 2026. In addition, we intend to submit additional claims of approximately $5.0 million which we expect to receive during 2027. The Company elected to account for the recoveries for previously paid IEEPA tariffs in accordance with ASC 450. ASC 450 states that a gain contingency is not recognized in the financial statements until the gain is realized or realizable. The Company will record tariff refunds received as a reduction of inventory to the extent the inventory remains on hand, or a reduction of cost of goods sold for inventory that has already been sold. There can be no assurance of the timing or likelihood of receipt of these refund claims. In July 2026, the U.S. government announced new tariffs under Section 301 of the U.S. trade laws which became effective on July 24, 2026 when the temporary tariffs expired. For further information on our risks related to the impact of tariffs and changes in trade policies, see "Part I, Item 1A. Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2025. 31 Consolidated Results of Operations for the Three and Six Months Ended June 30, 2026 and 2025 Three Months Ended June 30, Amount of Change Six Months Ended June 30, Amount of Change (in millions, except per share data) 2026 2025 $ %/pts 2026 2025 $ %/pts Net sales $415.1 $394.8 $20.3 5.1 % $758.8 $712.2 $46.6 6.5 % Comparable sales (Non-GAAP)(1) $385.8 $394.8 $(9.0) (2.3)% $695.2 $712.2 $(17.0) (2.5)% Gross profit 134.1 129.7 4.4 3.4 % 240.9 229.3 11.6 5.1 % Gross profit margin 32.3 % 32.9 % 31.7 % 32.2 % Selling, general and administrative expenses 91.2 82.6 8.6 10.4 % 190.3 175.3 15.0 8.6 % Intangible amortization and other operating expense 12.6 14.1 (1.5) (10.6)% 30.7 27.7 3.0 10.8 % Operating income 30.3 33.0 (2.7) (8.2)% 19.9 26.3 (6.4) (24.3)% Operating income margin 7.3 % 8.4 % 2.6 % 3.7 % Interest expense, net 9.3 8.9 0.4 4.5 % 18.6 17.8 0.8 4.5 % Bargain purchase gain 1.1 — 1.1 NM (36.5) — (36.5) NM Non-operating pension and other expense, net 0.2 1.4 (1.2) (85.7)% 3.2 2.3 0.9 39.1 % Income (loss) before income tax 19.7 22.7 (3.0) (13.2)% 34.6 6.2 28.4 NM Income tax expense (benefit) 5.6 (6.5) 12.1 NM 1.1 (9.8) 10.9 NM Effective tax rate 28.4 % (28.6)% 3.2 % (158.1)% Net income 14.1 29.2 (15.1) (51.7)% 33.5 16.0 17.5 109.4 % Diluted income per share $0.15 $0.31 $(0.16) (51.6)% $0.35 $0.17 $0.18 105.9 % (1)See reconciliation to GAAP contained in Part I, Item 2. "Supplemental Non-GAAP Financial Measure." Net Sales For the three months ended June 30, 2026, net sales increased $20.3 million, or 5.1 percent. including $22.4 million of sales from the acquisition of EPOS and $6.9 million, or 1.7 percent from favorable foreign exchange. Comparable net sales decreased 2.3 percent which includes lower volume of $12.8 million, or 3.2 percent, as growth in the Americas segment's learning and creative category was more than offset by declines in the International segment and technology peripherals globally. For the six months ended June 30, 2026, net sales increased $46.6 million, or 6.5 percent, including $37.6 million of sales from the acquisition of EPOS and $26.0 million, or 3.7 percent from favorable foreign exchange. Comparable net sales decreased 2.5 percent which includes lower volume, of $25.4 million, or 3.6 percent, as stronger demand for learning and creative categories in the Americas segment and growth in Mexico were more than offset by declines in technology peripherals and lower demand for workspace solutions globally. Gross Profit For the three months ended June 30, 2026, gross profit increased $4.4 million, or 3.4 percent, primarily due to global cost reduction actions and the acquisition of EPOS, partially offset by $3.4 million of inventory step-up amortization. Favorable foreign exchange increased gross profit by $1.8 million, or 1.4 percent. For the six months ended June 30, 2026, gross profit increased $11.6 million, or 5.1 percent, primarily due to global cost reduction actions and the acquisition of EPOS, partially offset by $3.4 million of inventory step-up amortization. Favorable foreign exchange increased gross profit $8.0 million, or 3.5 percent. Selling, General and Administrative Expenses ("SG&A") For the three months ended June 30, 2026, SG&A increased $8.6 million, or 10.4 percent. The increase was due to the acquisition of EPOS, a Brazil indirect tax, and adverse foreign exchange which more than offset the positive impact of global cost reductions. 32 For the six months ended June 30, 2026, SG&A increased $15.0 million, or 8.6 percent. The increase was due to the acquisition of EPOS, a litigation settlement, a Brazil indirect tax, and adverse foreign exchange which more than offset the positive impact of global cost reductions. Operating Income For the three months ended June 30, 2026, operating income decreased $2.7 million or 8.2 percent. The quarter was impacted by the amortization of inventory step-up and a Brazil indirect tax in the current year, partially offset by a reduction in restructuring expense. The prior year quarter benefited from the gain on sale of property. For the six months ended June 30, 2026, operating income decreased $6.4 million or 24.3 percent. The current year period was impacted by $4.0 million related to a litigation settlement, $3.4 million of inventory step-up amortization, $1.8 million Brazil indirect tax, partially offset by the benefit of cost reduction actions and lower restructuring expense. The prior year benefited from the gain on sale of property of $6.9 million. Favorable foreign exchange benefited operating income $1.3 million, or 4.9 percent. Bargain Purchase Gain For the six months ended June 30, 2026, we recorded a $36.5 million preliminary bargain purchase gain related to our acquisition of EPOS. For further information, see "Note 3. Acquisitions" to the consolidated financial statements contained in "Part I, Item 1. Financial Information" of this Quarterly Report on Form 10-Q. Income Tax Expense (Benefit) For the three months ended June 30, 2026, we recorded income tax expense of $5.6 million on income before taxes of $19.7 million. For the three months ended June 30, 2025, we recorded an income tax benefit of $6.5 million on income before taxes of $22.7 million. In June 2025, the Company entered into a settlement related to the Brazil Tax Assessments resulting in a net tax benefit of $13.4 million. For the six months ended June 30, 2026, we recorded income tax expense of $1.1 million on income before taxes of $34.6 million. For the six months ended June 30, 2025, we recorded an income tax benefit of $9.8 million on income before taxes of $6.2 million. In June 2025, the Company entered into a settlement related to the Brazil Tax Assessments resulting in a net tax benefit of $13.4 million. For further information, see "Note 11. Income Taxes" to the consolidated financial statements contained in "Part I, Item 1. Financial Information" of this Quarterly Report on Form 10-Q. 33 Segment Net Sales and Operating Income for the Three and Six Months Ended June 30, 2026 and 2025 ACCO Brands Americas Three Months Ended June 30, Amount of Change Six Months Ended June 30, Amount of Change (in millions) 2026 2025 $ %/pts 2026 2025 $ %/pts Net sales $262.9 $248.5 $14.4 5.8 % $441.4 $422.4 $19.0 4.5 % Comparable sales (Non-GAAP)⁽¹⁾ $253.0 $248.5 $4.5 1.8 % $422.9 $422.4 $0.5 0.1 % Segment operating income⁽²⁾ 46.4 40.7 5.7 14.0 % 49.8 41.6 8.2 19.7 % Segment operating income margin 17.6 % 16.4 % 1.2 pts 11.3 % 9.8 % 1.5 pts (1)See reconciliation to GAAP contained in Part I, Item 2. "Supplemental Non-GAAP Financial Measure." (2)Segment operating income excludes corporate costs. See "Part I, Item 1. Note 17. Information on Operating Segments" for a reconciliation of total "Segment operating income" to "Income before income tax." For the three months ended June 30, 2026, net sales increased $14.4 million, or 5.8 percent, including $6.6 million of sales from the acquisition of EPOS and $3.3 million, or 1.3 percent, from favorable foreign exchange. Comparable net sales increased 1.8 percent primarily driven by price and program of $3.3 million, or 1.3 percent and higher volume, which was up $1.2 million, or 0.5 percent. The volume increase was driven by strong performance in the learning and creative category in North America and Mexico, more than offsetting declines in workspace solutions and technology peripherals. For the six months ended June 30, 2026, net sales increased $19.0 million, or 4.5 percent, including $10.1 million of sales from the acquisition of EPOS and $8.4 million, or 2.0 percent, from favorable foreign exchange. Comparable net sales increased 0.1 percent driven by price and program of $6.9 million, or 1.6 percent, partly offset by lower volume, which was down $6.4 million, or 1.5 percent. Volume declines in workspace solutions and technology peripherals were partly offset by growth in the learning and creative category in North America as well as growth in Latin America. For the three months ended June 30, 2026, we reported operating income of $46.4 million, compared to operating income of $40.7 million. The current year quarter benefited from cost savings and higher sales volume, partly offset by the prior year gain on sale of our Sidney, New York facility of $5.7 million. For the six months ended June 30, 2026, operating income increased $8.2 million primarily driven by cost savings and the acquisition of EPOS, partly offset the prior year gain on the sale of our Sidney, New York facility. ACCO Brands International Three Months Ended June 30, Amount of Change Six Months Ended June 30, Amount of Change (in millions) 2026 2025 $ %/pts 2026 2025 $ %/pts Net sales $152.2 $146.3 $5.9 4.0 % $317.4 $289.8 $27.6 9.5 % Comparable sales (Non-GAAP)⁽¹⁾ $132.8 $146.3 $(13.5) (9.3)% $272.3 $289.8 $(17.5) (6.1)% Segment operating (loss) income⁽²⁾ (4.8) 0.8 (5.6) NM (2.4) 5.9 (8.3) (140.7)% Segment operating (loss) income margin (3.2)% 0.5 % (3.7) pts (0.8)% 2.0 % (2.8) pts (1)See reconciliation to GAAP contained in Part I, Item 2. "Supplemental Non-GAAP Financial Measure." (2)Segment operating (loss) income excludes corporate costs. See "Part I, Item 1. Note 17. Information on Operating Segments" for a reconciliation of total "Segment operating (loss) income" to "Income before income tax." For the three months ended June 30, 2026, net sales increased $5.9 million, or 4.0 percent, including $15.8 million of sales from the acquisition of EPOS and $3.6 million, or 2.5 percent of favorable foreign exchange. Comparable net sales decreased 9.3 percent driven by lower volume, which was down $14.0 million, or 9.6 percent, primarily due to reduced demand for office product categories, partly offset by the benefit of price increases, net of programs of $0.5 million, or 0.3 percent. 34 For the six months ended June 30, 2026, net sales increased $27.6 million, or 9.5 percent, including $27.5 million of sales from the acquisition of EPOS and $17.6 million, or 6.1 percent, of favorable foreign exchange. Comparable net sales decreased 6.1 percent driven by lower volume, which was down $19.0 million, or 6.6 percent, primarily due to reduced demand for business and consumer products, partly offset by the benefit of price increases, net of programs of $1.5 million, or 0.5 percent. For the three months ended June 30, 2026, we reported an operating loss of $4.8 million compared to operating income of $0.8 million primarily due to $3.4 million amortization of inventory step-up, lower organic sales volume, partly offset by cost savings. The prior year benefited from the gain on sale of our Barcelona, Spain facility for $1.2 million. For the six months ended June 30, 2026, we reported an operating loss of $2.4 million compared to operating income of $5.9 million primarily due to lower organic sales volume, fixed cost deleveraging and amortization of inventory step up, partly offset by favorable foreign exchange and cost savings. The prior year benefited from the gain on sale of our Barcelona, Spain facility for $1.2 million. Liquidity and Capital Resources Our primary liquidity needs are to support our working capital requirements, service indebtedness and fund capital expenditures, dividends, acquisitions, and stock repurchases. Our principal sources of liquidity are cash flows from operating activities, cash and cash equivalents held, and seasonal borrowings under our $467.5 million multi-currency revolving credit facility (the "Revolving Facility"). As of June 30, 2026, there was $251.6 million in borrowings outstanding under the Revolving Facility ($12.8 million reported in "Current portion of long-term debt" and $238.8 million reported in "Long-term debt, net"), and the amount available for borrowings was $204.8 million (allowing for $11.1 million of letters of credit outstanding on that date). We had $106.4 million in cash on hand as of June 30, 2026, and our total available liquidity (cash and availability under our credit facilities) was $311.2 million. As of June 30, 2026, our Consolidated Leverage Ratio was approximately 4.30 to 1.00 versus our maximum covenant of 4.75 to 1.00. We have no debt maturities before March 2029. Debt currently outstanding under our Credit Agreement is due on October 30, 2029, with the requirement that we refinance our senior unsecured notes by September 2028. Our priorities for cash flow use, after funding business operations, include debt reduction, dividends, funding strategic acquisitions, and share repurchases. The continued declaration and payment of dividends is at the discretion of the Board of Directors, and dividends and share repurchases are dependent upon, among other things, market conditions, the Company's financial position, results of operations, cash flow and other factors. The $358.8 million of debt currently outstanding under our senior secured credit facilities had a weighted average interest rate of 5.21 percent as of June 30, 2026, and the $575.0 million outstanding principal amount of our senior unsecured notes due March 2029 have a fixed interest rate of 4.25 percent. Because of the seasonality of our business, generally our operating cash flow is generated in the second half of the year, as the cash inflows in the first and second quarters are consumed building working capital and making our annual performance-based compensation payments when earned. Our third and fourth quarter cash flows come from completing the working capital cycle. Amendment to Credit Agreement Effective July 29, 2025, we entered into an amendment to the Credit Agreement, which, among other things, increased our maximum Consolidated Leverage Ratio financial covenant to 4.50x for the third and fourth quarters of 2025, to 4.75x for the first and second quarters of 2026 and to 4.25x for the third and fourth quarters of 2026. Thereafter, the maximum Consolidated Leverage Ratio will return to 4.50x for all first and second fiscal quarters and 4.00x for all third and fourth quarters. In addition, it modified certain covenant baskets related to liens, indebtedness and restricted payments through December 31, 2026. The 35 amendment also required that $35.0 million in outstanding principal amount under the term loan facility be repaid on or before September 30, 2025, for which the payment was made as required. Further, the amendment restricts the aggregate amount of dividend payments or share repurchases we can make in 2026 to the greater of $40.0 million or 1 percent of our Consolidated Total Assets. For further information, see "Note 4. Long-term Debt and Short-term Borrowings" to the consolidated financial statements contained in "Part I, Item 1. Financial Information" of this Quarterly Report on Form 10-Q. Adequacy of Liquidity Sources We believe that cash flow from operations, our current cash balance and other sources of liquidity, including borrowings available under our Revolving Facility, will be adequate to support our requirements for working capital and restructuring expenditures, and to service indebtedness for the foreseeable future. Restructuring Activities The Company may implement restructuring, realignment or cost-reduction plans and activities, including those related to integrating acquired businesses. During 2024, the Company announced a multi-year restructuring and cost savings program, with currently anticipated annualized pre-tax cost savings of approximately $100.0 million by the end of 2026. The program incorporates initiatives to simplify and delayer the Company's operating structure and reduce costs through headcount reductions, supply chain optimization, global footprint rationalization, and better leveraging the Company's sourcing capabilities. In the first half of the current year the Company realized approximately $20.0 million in pre-tariff savings and approximately $80.0 million since inception of the program. During the first half of the current year, we recorded restructuring costs of $8.0 million primarily related to the integration of EPOS. For additional details, see "Note 10. Restructuring" to the condensed consolidated financial statements contained in "Part I, Item 1. Financial Information" of this Quarterly Report on Form 10-Q. 36 Cash Flow for the Six Months Ended June 30, 2026 and 2025 During the six months ended June 30, 2026, our cash and cash equivalents increased $42.0 million, as compared to an increase of $59.2 million in the first six months of the prior year. The following table summarizes our cash flows for the periods presented: Six Months Ended June 30, (in millions) 2026 2025 Amount of Change Net cash flow provided (used) by: Operating activities $ (31.8 ) $ (33.4 ) $ 1.6 Investing activities (7.7 ) (0.4 ) (7.3 ) Net borrowings 97.7 115.3 (17.6 ) Dividends paid (13.8 ) (13.5 ) (0.3 ) All other financing (3.5 ) (16.0 ) 12.5 Financing activities 80.4 85.8 (5.4 ) Effect of foreign exchange rate changes on cash and cash equivalents 1.1 7.2 (6.1 ) Net increase in cash and cash equivalents $ 42.0 $ 59.2 $ (17.2 ) Cash Flow from Operating Activities Cash used by operating activities during the six months ended June 30, 2026, was driven by cash used for trade working capital of $25.7 million, which includes accounts receivable, inventory, and accounts payable as well as by a net cash outflow from other assets and liabilities of $47.0 million including cash payments for restructuring, taxes, interest, pensions, and incentive compensation. These were partially offset by cash inflows of $40.9 million after excluding non-cash impacts primarily from amortization of intangibles, depreciation, stock-based compensation expense, and the preliminary bargain purchase gain related to the acquisition of EPOS from our net income. Cash used by operating activities during the six months ended June 30, 2025, was driven by cash used for trade working capital of $11.2 million, which includes accounts receivable, inventory, and accounts payable as well as by a net cash outflow from other assets and liabilities of $76.7 million including cash payments for restructuring, taxes, interest, pensions, and incentive compensation. These were partially offset by cash inflows of $54.5 million after excluding non-cash impacts primarily from amortization of intangibles, depreciation, stock-based compensation expense, and the gain on the sale of our facilities in Sidney, New York and Barcelona, Spain from our net income. Cash Flow from Investing Activities Cash used by investing activities during the six months ended June 30, 2026, was primarily due to capital expenditures and $1.1 million of cash used for the acquisition of EPOS, net of cash acquired. Cash used by investing activities during the six months ended June 30, 2025, was primarily due to $10.1 million of cash used for the acquisition of Buro Seating as well as capital expenditures, largely offset by $16.5 million in proceeds from the sale of our facilities in Sidney, New York and Barcelona, Spain. Cash Flow from Financing Activities Cash provided by financing activities during the six months ended June 30, 2026, was primarily due to borrowings exceeding debt repayments, partially offset by dividend payments and payments related to tax withholding for stock-based compensation. 37 Cash provided by financing activities during the six months ended June 30, 2025, was primarily due to borrowings exceeding debt repayments, partially offset by dividend payments and $15.1 million in repurchases of common stock. Supplemental Non-GAAP Financial Measure To supplement our condensed consolidated financial statements presented in accordance with generally accepted accounting principles in the U.S. ("GAAP"), we provide investors with certain non-GAAP financial measures, including comparable sales. Comparable sales represent net sales excluding the impact of material acquisitions, if any, and with current-period foreign operation sales translated at prior-year currency rates. We sometimes refer to comparable sales as comparable net sales. We use comparable sales both to explain our results to stockholders and the investment community and in the internal evaluation and management of our business. We believe comparable sales provide management and investors with a more complete understanding of our underlying operational results and trends, facilitate meaningful period-to-period comparisons and enhance an overall understanding of our past and future financial performance. Comparable sales should not be considered in isolation or as a substitute for, or superior to, GAAP net sales and should be read in connection with the Company's financial statements presented in accordance with GAAP. The following tables provide a reconciliation of GAAP net sales as reported to non-GAAP comparable sales: Comparable Sales - Three Months Ended June 30, 2026 Non-GAAP   (in millions) GAAP Net Sales Currency Translation  Acquisition Comparable Sales ACCO Brands Americas $ 262.9 $ 3.3 $ 6.6 $ 253.0 ACCO Brands International 152.2 3.6 15.8 132.8 Total $ 415.1 $ 6.9 $ 22.4 $ 385.8 Amount of Change - Three Months Ended June 30, 2026 compared to the Three Months Ended June 30, 2025 $ Change - Net Sales Non-GAAP   (in millions) GAAP Net Sales Change Currency Translation  Acquisition Comparable Sales Change ACCO Brands Americas $ 14.4 $ 3.3 $ 6.6 $ 4.5 ACCO Brands International 5.9 3.6 15.8 (13.5 ) Total $ 20.3 $ 6.9 $ 22.4 $ (9.0 ) % Change - Net Sales Non-GAAP   GAAP Net Sales Change Currency Translation  Acquisition Comparable Sales Change ACCO Brands Americas 5.8% 1.3%  2.7% 1.8% ACCO Brands International 4.0% 2.5%  10.8% (9.3)% Total 5.1% 1.7%  5.7% (2.3)% Comparable Sales - Six Months Ended June 30, 2026 Non-GAAP   (in millions) GAAP Net Sales Currency Translation  Acquisition Comparable Sales ACCO Brands Americas $441.4 $8.4 $10.1 $422.9 ACCO Brands International 317.4 17.6 27.5 272.3 Total $758.8 $26.0 $37.6 $695.2 38 Amount of Change - Six Months Ended June 30, 2026 compared to the Six Months Ended June 30, 2025 $ Change - Net Sales Non-GAAP   (in millions) GAAP Net Sales Change Currency Translation  Acquisition Comparable Sales ACCO Brands Americas $19.0 $8.4 $10.1 $0.5 ACCO Brands International 27.6 17.6 27.5 (17.5) Total $46.6 $26.0 $37.6 $(17.0) % Change - Net Sales Non-GAAP   GAAP Net Sales Change Currency Translation  Acquisition Comparable Sales ACCO Brands Americas 4.5% 2.0%  2.4% 0.1% ACCO Brands International 9.5% 6.1%  9.5% (6.1)% Total 6.5% 3.7%  5.3% (2.5)%