AECOM · Earnings release · 8-K Exhibit 99

Press Release

Investor Contact:

Will Gabrielski

Senior Vice President, Finance, Treasurer

William.Gabrielski@aecom.com

Media Contact:

Brendan Ranson-Walsh

Senior Vice President, Global Communications

Brendan.Ranson-Walsh@aecom.com

AECOM reports first quarter fiscal 2026 results

·

Strong performance exceeded expectations on all key financial metrics

·

Raised earnings guidance for fiscal 2026

·

Backlog increased year-over-year and sequentially to a record high, driven

by a 1.5x book-to-burn ratio

·

Completed review of strategic alternatives for the Construction Management

business and will continue to own and operate the business

·

T1Returned more than $340 million to shareholders through repurchases and

dividends during the quarter

·

Board of Directors approved an increase of the share repurchase authorization

to $1 billion

DALLAS (February 9, 2026) — AECOM (NYSE:ACM), the

trusted global infrastructure leader, today reported first quarter fiscal 2026 results. Consistent with the decision to retain the Construction

Management business, reported financial results include the Construction Management business as a continuing operation.

(from Continuing Operations;

$ in millions, except EPS)

As Reported

YoY % Change

Adjusted1

(Non-GAAP)

YoY %

Change

Revenue

$

(5)

%

--

--

Net Service Revenue (NSR)2

--

--

$

5

%3

Operating Income

$

(7)

%

$

%

Segment Operating Margin4

--

--

%

bps

Net Income

$

%

$

(3)

%

Tax Rate

%

bps

%

bps

EPS (Fully Diluted)

$

%

$

(2)

%

EBITDA5

--

--

$

6

%

EBITDA Margin6

--

--

%

bps

Operating Cash Flow

$

%

--

--

Free Cash Flow7

--

--

$

%

Total Backlog8

$

9

%

--

--

“T2We outperformed our expectations on every key financial metric

in the quarter and raised our full year guidance as a result," said Troy Rudd, AECOM’s chairman and chief executive officer. “Importantly, T3backlog increased by 9%, highlighted by a 1.5 book-to-burn ratio that featured some of the largest and most iconic

projects in the world. Our successes are built on the foundation of having the number one-ranked franchises in each of our end markets,

technical leadership, infrastructure domain expertise, and trusted client relationships. T4Our investments in the Advisory and Program Management

businesses, as well as in technology and AI enable us to scale these attributes, expand our addressable market, deliver even greater value

to clients, and build an even stronger and more durable moat – all of which underscore our confidence in achieving our financial

objectives.”

“Across our markets, clients are increasingly turning to us to

deliver their biggest and most critical infrastructure projects and programs,” said Lara Poloni, AECOM’s president. “From

our selection as a preferred bidder on Scottish Water’s new multi-billion-dollar investment program to our selection as Delivery

Partner to the Games Independent Infrastructure and Coordination Authority for the Brisbane 2032 Olympic and Paralympic Games, we consistently

win what matters through our unrivaled competitive advantages. These advantages are enhanced by our AI and technology investments, which

have been instrumental in key wins and favorable commercial model discussions with clients. Our teams are energized by these investments

and by the opportunity to redefine how infrastructure is delivered.”

1

“Our strong performance, record backlog and increased guidance

demonstrate we are creating significant competitive differentiation in the market,” said Gaurav Kapoor, AECOM’s chief financial

and operations officer. “Year after year we have expanded our productivity, which is evident in the persistent NSR and profit per

employee growth we have delivered for the past six years. Importantly, through the investments we are making, the opportunity for this

trend to continue has never been greater. We operate with a strong balance sheet, including no debt maturities for several years, and

an attractive cost of capital. As a result, we continued to execute on our returns-based capital allocation policy in the quarter, which

included returning more than $340 million to shareholders.”

First Quarter Highlights:

·

Reflecting as reported GAAP performance from continuing operations, first

quarter revenue declined 5% to $3.8 billion, operating income declined 7% to $222 million, net income declined 21% to $140 million and

diluted earnings per share declined 20% to $1.06.

·

Net service revenue2 increased 2%; net service revenue increased

by 5% after adjusting for fewer working days compared to the prior year first quarter, highlighted by 9% growth in the Americas segment.

·

The segment adjusted1 operating margin4 and the adjusted1EBITDA margin6 increased to 16.4% by 100 basis points and 80 basis points, respectively.

‒

Our margins include the investments in the Company’s AI and technology teams and capabilities, in growing its Advisory teams,

and in record business development.

·

Adjusted1 EBITDA5 increased by 6% and adjusted1EPS decreased by 2%.

‒

Adjusting for the lower tax rate in the prior year period, adjusted EPS increased by 8%.

·

Total backlog8 increased by 9% to a record high, highlighted by

a 1.5 book-to-burn9 ratio.

‒

The Company delivered a 21st consecutive quarter with a book-to-burn

ratio in excess of 1.0.

‒

The Americas design business had a 1.0 book-to-burn ratio despite the unprecedented

43-day U.S. federal government shutdown that resulted in award delays.

‒

The pipeline of opportunities increased by double digits to a new record,

including growth in both the Americas and International segments, with the fastest growth in the earlier stages of the pipeline demonstrating

strong long-term demand trends.

Cash Flow, Capital Allocation and Raised Repurchase Authorization

·

Free cash flow7 was $42 million and the Company returned more

than $340 million to shareholders through repurchases and dividends in the quarter.

·

After the quarter ended, the Board of Directors approved an increase to the

share repurchase authorization to $1 billion.

‒

Since the initiation of its repurchase program in September 2020, the

Company has returned nearly $3.4 billion of capital to shareholders through repurchases and dividends.

·

The Company maintains a strong balance sheet with net leverage10of 1.0x.

Fiscal 2026 and Long-Term Financial Guidance

·

The Company raised its fiscal 2026 earnings guidance, which reflects the

outperformance delivered in the design business in the first quarter, the benefits of our capital allocation strategy, a lower than previously

expected tax rate, and a record backlog and pipeline across the enterprise, which creates strong full year visibility.

·

As a result, the Company’s guidance, which includes the Construction

Management business, now includes expectations for:

‒

‒

Adjusted1 EBITDA5 of between $1,270 million and $1,305 million, as compared to $1,265 million and $1,305 million

previously.

‒

Organic NSR2 growth of 6% to 8%, which excludes the expected approximately 200 basis point impact of fewer working days

‒

A segment adjusted operating margin4 of 16.8% and an adjusted EBITDA6 margin of 17.0%, which are materially

consistent with prior expectations.

‒

Free cash flow7 of approximately $400 million.

‒

An average fully diluted share count of 131 million, which does not include

any potential future benefits from capital allocation actions not yet taken, including potential repurchases.

‒

An adjusted effective tax rate of approximately 20 – 22%, as compared

·

In addition, the Company reiterated its long-term financial targets, which

includes its expectation to deliver a 20%+ margin exit rate by fiscal 2028 and to grow adjusted1 EPS at a 15%+ CAGR from fiscal

·

See the Regulation G Information tables at the end of this release for a

reconciliation of non-GAAP measures to the most directly comparable GAAP measures.

2

Business Segments

Americas

Revenue in the first quarter was $3.0 billion, a 4% decrease from the

prior year due to a reduction in pass-through revenue. Net service revenue2 in the first quarter was $1.1 billion, a 9% increase

from the prior year when adjusted for the impact of fewer working days in the period, or 6% on an as reported basis at constant currency.

Growth was strong in both the U.S. and Canada.

Operating income increased 9% over the prior year to $214 million and

on an adjusted1 basis increased 13% to $222 million. The adjusted operating margin on net service revenue increased by 120

basis points over the prior year to 19.9%, a new first quarter high. This performance reflects the benefits of strong growth and a continued

focus on driving operating efficiencies across the business.

Backlog in the Americas segment grew 3% to a new record high, driven

by a 1.0 book-to-burn ratio9. The Americas design business had a 1.0 book-to-burn ratio despite award delays resulting from

the unprecedented and now resolved 43-day U.S. federal government shutdown during the quarter.

International

Revenue in the first quarter was $854 million, a 5% decrease from the

prior year. Net service revenue2 was $736 million, which was materially unchanged with the prior year when adjusted for the

impact of fewer working days in the period, or a 3% decrease on an as reported basis at constant currency.

Operating income decreased by 6% over the prior year to $76 million

and on an adjusted1 basis was effectively unchanged at $81 million. The adjusted operating margin on net service revenue increased

by 20 basis points to 11.0%, which reflected a combination of strong execution, operational efficiencies, and a focus on high returning

markets and clients.

Backlog in the International segment grew 25% to a new record high,

driven by a 2.3 book-to-burn ratio9 and included substantial wins in each of the Company’s International regions.

Construction Management Strategic Alternatives Update

T5AECOM has completed the comprehensive review of strategic alternatives

for its Construction Management business. The Company has concluded that it will continue to own and operate the business and believes

it is exceptionally well positioned for the future.

The Construction Management business is an industry leader with a strong

backlog and pipeline, great teams of professionals, and is widely recognized by its clients for its track record of delivering the largest

and most iconic projects in its markets.

Tax Rate

The effective tax rate was 19.7% in the first quarter. On an adjusted1basis, the effective tax rate was 21.5% in the first quarter. The adjusted tax rate was derived by re-computing the quarterly effective

tax rate on adjusted net income11. The adjusted tax expense differs from the GAAP tax expense based on the taxability or deductibility

and tax rate applied to each of the adjustments.

Resolution of a Legacy Matter

After the quarter ended, AECOM agreed in principle to settle a legacy

project-related matter that was acquired with the Company’s 2014 acquisition of URS Corporation. As a result, the Company expects

to receive approximately $50 million in cash this fiscal year and recorded a $61.8 million non-cash loss in discontinued operations in

the fiscal first quarter.

Conference Call

AECOM is hosting a conference call tomorrow at 8 a.m. Eastern

Time, during which management will make a brief presentation focusing on the Company's results, strategy and operating trends, and outlook.

Interested parties can listen to the conference call and view accompanying slides via webcast at https://investors.aecom.com.

The webcast will be available for replay following the call.

1 Excludes the impact of certain items, such as restructuring

costs, amortization of intangible assets, non-core AECOM Capital and other items. See Regulation G Information for a reconciliation of

non-GAAP measures to the comparable GAAP measures.

2 Revenue, less pass-through revenue; growth rates are

presented on a constant-currency basis.

3 Adjusted to reflect for fewer working days in the first quarter of

fiscal 2026 compared to the prior year first quarter.

4 Reflects segment operating performance, excluding AECOM

Capital and G&A, and margins are presented on a net service revenue basis.

5 Net income before interest expense, tax expense, depreciation

and amortization.

6 Adjusted EBITDA margin includes non-controlling interests

in EBITDA and is on a net service revenue basis.

7 Free cash flow is defined as cash flow from operations

less capital expenditures, net of proceeds from disposals of property and equipment; free cash flow conversion is defined as free cash

flow divided by adjusted net income attributable to AECOM.

8 Backlog represents the total value of work for which

AECOM has been selected that is expected to be completed by consolidated subsidiaries and includes the proportionate share of work expected

to be performed by unconsolidated joint ventures.

9 Book-to-burn ratio is defined as the dollar amount of

wins divided by revenue recognized during the period, including revenue related to work performed in unconsolidated joint ventures.

10 Net leverage is comprised of EBITDA as defined in the

Company’s credit agreement dated October 17, 2014, as amended, and total debt on the Company’s financial statements,

net of total cash and cash equivalents.

11 Inclusive of non-controlling interest deduction and adjusted

for financing charges in interest expense, the amortization of intangible assets and is based on continuing operations.

3

About AECOM

AECOM (NYSE: ACM) is the global infrastructure leader, committed to

delivering a better world. As a trusted professional services firm powered by deep technical abilities, we solve our clients’ complex

challenges in water, environment, energy, transportation and buildings. Our teams partner with public- and private-sector clients to create

innovative, sustainable and resilient solutions throughout the project lifecycle – from advisory, planning, design and engineering

to program and construction management. AECOM is a Fortune 500 firm that had revenue of $16.1 billion in fiscal year 2025. Learn more

at aecom.com.

Forward-Looking Statements

All statements in this communication other than statements of historical

fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans,

strategies and objectives for future operations, profitability, strategic value creation, capital allocation strategy including stock

repurchases, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected

financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are

reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important

factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or

projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable

to economic downturns and client spending reductions; government shutdowns or other funding circumstances that cause governmental agencies

to modify, curtail or terminate our contracts; losses under fixed-price contracts; limited control over operations that run through our

joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable

to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees;

our capital allocation strategy, including ability to continue payment of dividends and stock repurchases; T6exposure to political and economic

risks in different countries, including tariffs, geopolitical events, and conflicts; currency exchange rate and interest fluctuations;

retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance

and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who

may fail to satisfy their legal obligations; managing pension costs; AECOM Capital real estate development projects; cybersecurity issues, IT

outages and data privacy; risks associated with the benefits and costs of the sale of our Management Services and self-perform at-risk

civil infrastructure, power construction and oil and gas businesses, including the risk that any purchase adjustments from those transactions

could be unfavorable and result in any future proceeds owed to us as part of the transactions could be lower than we expect; risks associated

with strategic initiatives, including AI investments and potential acquisitions and divestitures; as well as other additional risks and

factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the

Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no

obligation, to update any forward-looking statement.

Non-GAAP Financial Information

This communication contains financial information calculated other

than in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company believes that non-GAAP financial

measures such as adjusted EPS, adjusted EBITDA, adjusted EBITDA margin, adjusted net/operating income, segment adjusted operating margin,

adjusted tax rate, net service revenue and free cash flow provide a meaningful perspective on its business results as the Company utilizes

this information to evaluate and manage the business. We use adjusted operating income, adjusted net income, adjusted EBITDA, adjusted

EBITDA margin, and adjusted EPS to exclude the impact of certain items, such as amortization expense and taxes to aid investors in better

understanding our core performance results. We use free cash flow to present the cash generated from operations after capital expenditures

to maintain our business. We present net service revenue (NSR) to exclude pass-through subcontractor costs from revenue to provide investors

with a better understanding of our operational performance. We present segment adjusted operating margin to reflect segment operating

performance of our Americas and International segments, excluding AECOM Capital. We present adjusted tax rate to reflect

the tax rate on adjusted earnings. We also use constant-currency growth rates where appropriate, which are calculated by conforming

the current period results to the comparable period exchange rates.

4

Our non-GAAP disclosure has limitations as an analytical tool,

should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation

or as a substitute for analysis of our results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures

that may be presented by other companies. A reconciliation of these non-GAAP measures is found in the Regulation G Information tables

at the back of this communication. The Company is unable to reconcile certain of its non-GAAP financial guidance and long-term financial

targets due to uncertainties in these non-operating items as well as other adjustments to net income. The Company is unable to

provide a reconciliation of its guidance for NSR to GAAP revenue because it is unable to predict with reasonable certainty its pass-through

revenue. In addition, the Company is unable to provide a reconciliation of its guidance for financial metrics excluding the Construction

Management business due to uncertainties in these non-operating items as well as other adjustments to these measures.

5

AECOM

Consolidated Statement of Income

(unaudited - in thousands, except per share data)

Three Months Ended

% Change

Revenue

$

$

)%

Cost of revenue

)%

Gross profit

%

Equity in earnings of joint ventures

%

General and administrative expenses

)

)

%

Restructuring costs

)

—

NM

Income from operations

)%

Other income

%

Interest income

)%

Interest expense

)

)

%

Income from continuing operations before taxes

)%

Income tax expense for continuing operations

%

Income from continuing operations

)%

Loss from discontinued operations

)

)

%

Net income

)%

Net income attributable to noncontrolling interests from continuing operations

)

)

%

Net income attributable to noncontrolling interests from discontinued operations

—

)

)%

Net income attributable to noncontrolling interests

)

)

%

Net income attributable to AECOM from continuing operations

)%

Net loss attributable to AECOM from discontinued operations

)

)

%

Net income attributable to AECOM

$

$

)%

Net income (loss) attributable to AECOM per share:

Basic continuing operations per share

$

$

)%

Basic discontinued operations per share

)

)

%

Basic earnings per share

$

$

)%

Diluted continuing operations per share

$

$

)%

Diluted discontinued operations per share

)

)

%

Diluted earnings per share

$

$

)%

Weighted average shares outstanding:

Basic

)%

Diluted

)%

AECOM

Balance Sheet Information

(unaudited - in thousands)

Balance Sheet Information:

Total cash and cash equivalents

$

$

Accounts receivable and contract assets, net

Working capital

Total debt, excluding unamortized debt issuance costs

Total assets

Total AECOM stockholders’ equity

6

AECOM

Reportable Segments

(unaudited - in thousands)

Americas

International

AECOM

Capital

Corporate

Total

Revenue

$

$

$

—

$

—

$

Cost of revenue

—

Gross profit (loss)

)

—

Equity in earnings of joint ventures

—

General and administrative expenses

—

—

)

)

)

T7Restructuring and acquisition costs

—

—

—

)

)

Income (loss) from operations

$

$

$

)

$

)

$

Gross profit as a % of revenue

%

%

%

Contracted backlog

$

$

$

—

$

—

$

Awarded backlog

—

—

Total backlog

$

$

$

—

$

—

$

Total backlog – Design only

$

$

$

—

$

—

$

Revenue

$

$

$

$

—

$

Cost of revenue

—

—

Gross profit

—

Equity in earnings of joint ventures

—

General and administrative expenses

—

—

)

)

)

Income (loss) from operations

$

$

$

)

$

)

$

Gross profit as a % of revenue

%

%

%

Contracted backlog

$

$

$

—

$

—

$

Awarded backlog

—

—

Total backlog

$

$

$

—

$

—

$

Total backlog – Design only

$

$

$

—

$

—

$

7

AECOM

Regulation G Information

(in millions)

Reconciliation of Revenue to Net Service Revenue (NSR)

Three Months Ended

Americas

Revenue

$

$

$

Less: Pass-through revenue

Net service revenue

$

$

$

International

Revenue

$

$

$

Less: Pass-through revenue

Net service revenue

$

$

$

Segment Performance (excludes ACAP)

Revenue

$

$

$

Less: Pass-through revenue

Net service revenue

$

$

$

Consolidated

Revenue

$

$

$

Less: Pass-through revenue

Net service revenue

$

$

$

Reconciliation of Total Debt to Net Debt

Balances at

Short-term debt

$

$

$

Current portion of long-term debt

Long-term debt, excluding unamortized debt issuance costs

Total debt

Less: Total cash and cash equivalents

Net debt

$

$

$

Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow

Three Months Ended

Net cash provided by operating activities

$

$

$

Capital expenditures, net

)

)

)

Free cash flow

$

$

$

8

AECOM

Regulation

G Information

(in millions, except per

share data)

Three Months Ended

Reconciliation of Income from Operations to Adjusted Income from Operations to Adjusted EBITDA with Noncontrolling Interests (NCI) to Adjusted EBITDA

Income from operations

$

$

$

Noncore AECOM Capital loss

Restructuring and acquisition costs

—

Amortization of intangible assets

Adjusted income from operations

$

$

$

Other income

Fair value adjustment

)

)

)

Depreciation

Adjusted EBITDA with noncontrolling interests (NCI)

$

$

$

Net income attributable to NCI from continuing operations excluding interest income included in NCI

)

)

)

Adjusted EBITDA

$

$

$

Reconciliation of Income from Continuing Operations Before Taxes to Adjusted Income from Continuing Operations Before Taxes

Income from continuing operations before taxes

$

$

$

Noncore AECOM Capital loss

Fair value adjustment

)

)

)

Restructuring and acquisition costs

—

Amortization of intangible assets

Financing charges in interest expense

Adjusted income from continuing operations before taxes

$

$

$

Reconciliation of Income Taxes for Continuing Operations to Adjusted Income Taxes for Continuing Operations

Income tax expense for continuing operations

$

$

$

Tax effect of the above adjustments (1)

)

Valuation allowances and other tax only items

)

)

Adjusted income tax expense for continuing operations

$

$

$

Reconciliation of Net Income Attributable to AECOM from Continuing Operations to Adjusted Net Income Attributable to AECOM from Continuing Operations

Net income attributable to AECOM from continuing operations

$

$

$

Noncore AECOM Capital loss, net of NCI

Fair value adjustment

)

)

)

Restructuring and acquisition costs

—

Amortization of intangible assets

Financing charges in interest expense

Tax effect of the above adjustments (1)

)

)

Valuation allowances and other tax only items

)

Adjusted net income attributable to AECOM from continuing operations

$

$

$

(1) Adjusts the income

taxes during the period to exclude the impact on our effective tax rate of the pre-tax adjustments shown above.

9

AECOM

Regulation

G Information

(in millions, except per

share data)

Three Months Ended

Reconciliation of Net Income Attributable to AECOM from Continuing Operations per Diluted Share to Adjusted Net Income Attributable to AECOM from Continuing Operations per Diluted Share

Net income attributable to AECOM from continuing operations per diluted share

$

$

$

Per diluted share adjustments:

Noncore AECOM Capital loss, net of NCI

Fair value adjustment

)

)

)

Restructuring and acquisition costs

—

Amortization of intangible assets

—

Financing charges in interest expense

Tax effect of the above adjustments (1)

)

)

)

Valuation allowances and other tax only items

—

—

Adjusted net income attributable to AECOM from continuing operations per diluted share

$

$

$

Weighted average shares outstanding – basic

Weighted average shares outstanding – diluted

(1) Adjusts the income

taxes during the period to exclude the impact on our effective tax rate of the pre-tax adjustments shown above.

Reconciliation of Net Income Attributable to AECOM from Continuing Operations to Adjusted EBITDA

Net income attributable to AECOM from continuing operations

$

$

$

Income tax expense

Depreciation and amortization

Interest income, net of NCI

)

)

)

Interest expense

Amortized bank fees included in interest expense

)

)

)

Noncore AECOM Capital loss, net of NCI

Fair value adjustment included in other income

)

)

)

Restructuring and acquisition costs

—

Adjusted EBITDA

$

$

$

Reconciliation of Segment Income from Operations to Adjusted Segment Income from Operations

Americas Segment:

Segment Income from operations

$

$

$

Amortization of intangible assets

Adjusted segment income from operations

$

$

$

International Segment:

Segment Income from operations

$

$

$

Amortization of intangible assets

—

—

Adjusted segment income from operations

$

$

$

Segment Performance (excludes ACAP and G&A):

Segment Income from operations

$

$

$

Amortization of intangible assets

Adjusted segment income from operations

$

$

$

AECOM

Regulation G Information

FY2026 GAAP EPS Guidance based on Adjusted EPS Guidance

(all figures approximate)

GAAP EPS guidance

Adjusted EPS excludes:

Amortization of intangible assets

Amortization of deferred financing fees

Noncore AECOM Capital

Fair value adjustment

Restructuring and acquisition costs

Tax effect of the above items

Adjusted EPS guidance

FY2026 GAAP Net Income from Continuing Operations Guidance

based on Adjusted EBITDA Guidance

(in millions, all figures approximate)

GAAP net income from continuing operations guidance

Net income attributable to noncontrolling interest from continuing operations

Net income attributable to AECOM from continuing operations

Adjusted net income attributable to AECOM from continuing operations excludes:

Amortization of intangible assets

Amortization of deferred financing fees

$5

Noncore AECOM Capital

$1

Fair value adjustment

($5)

Restructuring and acquisition costs

Tax effect of the above items

Adjusted net income attributable to AECOM from continuing operations

Adjusted EBITDA excludes:

Depreciation

Adjusted interest expense, net

Tax expense, including tax effect of above items

Adjusted EBITDA guidance

FY2026 GAAP Interest Expense Guidance based on Adjusted Interest Expense Guidance

(in millions, all figures approximate)

GAAP interest expense guidance

Finance charges in interest expense

($5)

Interest income, net of NCI

Adjusted interest expense guidance, net

FY2026 GAAP Income Tax Guidance based on Adjusted Income Tax Guidance

(in millions, all figures approximate)

GAAP income tax expense guidance

Tax effect of adjusting items

Adjusted income tax expense guidance

Note: Variances in tables are due to rounding.