Interest Rate Sensitivity Our cash and cash equivalents are held primarily in checking accounts and cash deposits. The fair value of our cash and cash equivalents would not be significantly affected by either an increase or decrease in interest rates due mainly to the short-term nature of these instruments. Interest on various of our credit facilities (excluding our bonds which are subject to a fixed interest rate) accrue at a floating rate based on a formula tied to certain market rates at the time of incurrence. We do not expect that any change in prevailing interest rates will have a material impact on our results of operations. We currently do not hedge interest rate exposure. We may in the future hedge our interest rate exposure and may use swaps, caps, collars, structured collars or other common derivative financial instruments to reduce interest rate risk. It is difficult to predict the effect that future hedging activities would have on our operating results. Foreign Currency Exchange Rate Risk Our customers are located throughout the world, including Europe, North America, Latin America, Australia, the United Kingdom, Asia and Africa. Although our consolidated financial statements are reported in U.S. dollars, we conduct business in, and our revenue is earned in, multiple currencies, mainly U.S. dollar, euro, Australian dollar and British pound. We are also exposed to risks of currency volatility in certain emerging markets, and such volatility might be more pronounced. A significant portion of our costs is denominated in NIS and EUR. Consequently, we are exposed to foreign currency exchange risk relative to the U.S. dollar, and our results of operations could be affected due to fluctuations in currencies in which we operate. During 2025 the U.S. dollar devaluated against NIS and EUR by approximately 12.5% and 11.7%, respectively. Our outstanding bonds are denominated in NIS; they are partially hedged by a natural hedge as we keep some cash balances in NIS and are partially hedged by a Cross-Currency Swap (CCS). To mitigate our risk, we hedge our exposure using currency forward contracts, currency options or other common derivative financial instruments. However, the effect of future hedging activities on our operating results remains difficult to predict. Credit Risk We maintain deposits of our cash and cash equivalents with several foreign and Israeli banks. In addition, substantially all of our cash and cash equivalents, as well as our marketable securities, are held by financial institutions that we believe are of high credit quality. We have not experienced any losses on our deposits of cash and cash equivalents and our accounts are monitored by our management team to mitigate risk. We are exposed to credit risk in the event of default by the financial institution holding our cash and cash equivalents. In the ordinary course of our business, we provide credit to our customers for purchasing our products and services. As of December 31, 2025, account receivables amounted to approximately $104 million. In addition, from time to time we extend loans to certain customers and partners. As of December 31, 2025, an aggregate of approximately $7.3 million was outstanding under such loans. We are exposed to the risk that our customers or partners will fail to repay such credit or loans, as applicable, on the terms such credit or loans were provided. Liquidity Risk Liquidity risk relates to maintaining sufficient cash and securities through an adequate amount of committed credit facilities to meet obligations when due and to close out market positions. We aim to ensure a minimum level of liquidity considered adequate by our management. We consider a variety of actions to be taken in the event of liquidity contingencies in order to maintain cash within required minimum liquidity limits.