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 second quarter fiscal

·

Delivered record second quarter performance

·

Design book-to-burn ratio of 1.2 drove 8% total backlog growth to a record high; 22nd consecutive quarter with a book-to-burn ratio in excess of 1

·

Continued to execute returns-based capital allocation policy

·

Raised earnings guidance for a second consecutive quarter

AECOM (NYSE:ACM), the trusted global infrastructure leader, today reported second quarter fiscal 2026 results.

Second Quarter Highlights:

·

Reflecting as reported GAAP performance from continuing operations, second quarter revenue increased 1% to $3.8 billion, operating income declined 4% to $248 million, net income increased 19% to $184 million and diluted earnings per share increased 22% to $1.42.

·

Net service revenue1 increased 4% on an as reported basis, or 2% on a constant-currency basis, highlighted by 8% constant-currency growth in the Americas design business.

·

The segment adjusted2 operating margin3 increased by 50 basis points to 16.5% and the adjusted2 EBITDA margin4 increased by 20 basis points to 16.5%, both of which set new all-time highs for a second quarter.

-

As a result, in the first half of the year, the segment adjusted operating margin and the adjusted EBITDA margin were both 16.5%, increasing by 70 basis points and 50 basis points, respectively, and set new records.

·

Adjusted2 EBITDA5 increased by 8% and adjusted2 EPS increased by 27%.

·

T1Total backlog6 increased by 8% to a record high, driven by a 1.2 book-to-burn7 ratio in the design business.

-

The design pipeline increased by double-digits and reached a record level, driven by strong funding across the Company’s markets and an expanding addressable market opportunity.

(from Continuing Operations;

$ in millions, except EPS)

As Reported

(GAAP)

YoY % Change

Adjusted2

(Non-GAAP)

YoY % Change

Revenue

$

1

%

--

--

Net Service Revenue (NSR)1

--

--

$

2

%

Operating Income

$

(4

%)

$

7

%

Segment Operating Margin3

--

--

%

Net Income

$

%

$

%

EPS (Fully Diluted)

$

%

$

%

EBITDA5

--

--

$

8

%

EBITDA Margin4

--

--

%

Operating Cash Flow

$

4

%)

--

--

Free Cash Flow8

--

--

($

)

NM

Total Backlog6

$

8

%

--

--

“Our strong second quarter and

fiscal year-to-date performance highlights the strength and resiliency of our business,” said Troy Rudd, AECOM’s chairman

and chief executive officer. “T2Our competitive advantages of scale, infrastructure domain and technical expertise, and strong client

relationships are key to our successes. T3We are continuing to invest at record levels to enhance our client value proposition and expand

our addressable market, which includes our proprietary AI investments and growing our Advisory practice. Taken together, we are well

positioned to deliver on both our twice-raised fiscal 2026 guidance and our long-term financial targets.”

1

“Our teams continue to build momentum

and our investments to extend our competitive advantages are contributing to a strengthened client value proposition,” said Lara

Poloni, AECOM’s president. “Now more than ever, we are positioned to deliver complex technical expertise at scale.”

“As our second quarter performance

and raised full year financial guidance underscore, we have an enduring competitive advantage that allows us to continue to deliver,”

said Gaurav Kapoor, AECOM’s chief financial and operations officer. “Our competitive advantages have enabled us to consistently

win increasingly valuable projects, and in turn, deliver continued earnings growth year after year.”

Cash Flow and Capital Allocation

·

T4Underlying cash flow in the second quarter was consistent with expectations, but was offset by delayed payment timing in the Middle East business, as well as longer-than-anticipated claim resolution on certain projects.

·

Importantly, collections in the Middle East have already recovered in the fiscal third quarter and AECOM reiterated its full year free cash flow guidance, as well as its long-term 100%+ free cash flow conversion target.

·

T5The Company returned $155 million to shareholders through repurchases and dividends in the quarter.

-

Since the initiation of its repurchase program in September 2020, the Company has returned more than $3.5 billion of capital to shareholders.

-

The Company remains committed to executing its returns-focused capital allocation policy, which includes returning substantially all available cash flow to shareholders through repurchases and dividends.

·

The Company maintains a strong balance sheet with net leverage9 of 1.2x.

Fiscal 2026 and Long-Term Financial

Guidance

·

T6The Company increased its fiscal 2026 earnings guidance, supported by its strong year-to-date performance, another quarter of record backlog and double-digit pipeline growth.

·

As a result, the Company’s guidance now includes expectations for:

‒

Adjusted2 EPS of between $5.90 and $6.10, as compared to $5.85 to 6.05 previously, which now represents 14% year-over-year growth at the mid-point of the range.

‒

Adjusted2 EBITDA5 of between $1,275 million and $1,305 million, as compared to $1,270 million and $1,305 million previously, which now represents 7% year-over-year growth at the mid-point of the range.

‒

Reiterated organic NSR1 growth range of between 6% and 8%, which excludes the expected approximately 200 basis point impact of fewer working days in fiscal 2026.

‒

A segment adjusted operating margin3 of 16.8% and an adjusted EBITDA margin4 of 17.0%.

‒

Free cash flow8 of approximately $400 million.

-

An average fully diluted share count of 130 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%.

·

In addition, the Company reaffirmed its long-term financial targets, which includes its expectation to deliver a 20%+ margin exit rate by fiscal 2028 and to grow adjusted2 EPS at a 15%+ CAGR from fiscal 2026 to fiscal 2029.

·

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.

Business Segments

Americas

Revenue in the second quarter was $2.9

billion, a 1% increase from the prior year. Net service revenue1 in the second quarter was $1.2 billion, a 5% increase from

the prior year, driven by 8% growth in the Americas design business.

Operating income increased by 5% over

the prior year to $228 million and on an adjusted2 basis increased by 10% to $239 million. The adjusted operating margin on

net service revenue increased by 60 basis points over the prior year to 20.0%, which marked a new all-time high for a second quarter.

This performance reflects a continued focus on driving operating efficiencies across the business and the high returns on the investments

the Company has made and continues to make in organic growth.

Backlog in the Americas segment grew

by 2% to a new record high, driven by a 1.0 book-to-burn ratio7. The Americas design business had a 1.1 book-to-burn ratio

led by strong wins in the Transportation, Environment and Water end markets.

International

Revenue in the second quarter was $890

million, a 2% increase from the prior year. Net service revenue1 was $754 million, a 3% decrease from the prior year, driven

by declines in the Asia and Middle East markets.

2

Operating income decreased by 6% over

the prior year to $77 million and on an adjusted2 basis increased 2% to $84 million. The adjusted operating margin on net

service revenue was effectively unchanged over the prior year at 11.1%. This performance includes an impact from lower revenues in certain

regions due to the conflict in the Middle East, as well as continued investments in business development and strategic growth initiatives.

Backlog in the International segment

grew 25% over the prior year to a new record high, driven by a 1.2 book-to-burn ratio7 and strong wins in the U.K. and Middle

East markets.

Tax Rate

The effective tax rate was 12.1% in

the second quarter. On an adjusted2 basis, the effective tax rate was 13.9%. The adjusted tax rate was derived by re-computing

the quarterly effective tax rate on adjusted net income10. 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.

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 Revenue, less pass-through

revenue; growth rates are presented on a constant-currency basis, unless otherwise noted.

2 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.

3 Reflects segment operating

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

4 Adjusted EBITDA margin

includes non-controlling interests in EBITDA and is on a net service revenue basis.

5 Net income before interest

expense, tax expense, depreciation and amortization.

6 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.

7 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.

8 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.

9 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.

10 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.

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; changes in administration

or other funding directives and circumstances that cause governmental agencies to modify, curtail or terminate our contracts; government

contracts are subject to audits and adjustments of contractual terms; long-term government contracts are subject to uncertainties related

to government contract appropriations; losses under fixed-price contracts; limited control over operations run through our joint venture

entities; liability for misconduct by our employees or consultants; changes in government laws, regulations and policies, including 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 our ability to continue payment of dividends

and purchase stock; exposure to political and economic risks in different countries, including tariffs and trade policies, geopolitical

events, and conflicts; inflation, currency exchange rates and interest rate fluctuations; changes in capital markets and stock market

volatility; retaining and recruiting key technical and management personnel; legal claims and litigation; inadequate insurance coverage;

environmental law compliance and inadequate 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;

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 construction businesses, including the risk that any

purchase adjustments from those transactions could be unfavorable and any future proceeds owed to us as part of the transactions could

be lower than we expect; risks associated with our 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.

3

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.

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.

4

AECOM

Consolidated

Statements of Income

(unaudited -

in thousands, except per share data)

Three Months Ended

Six Months Ended

%

Change

%

Change

Revenue

$

$

%

$

$

)%

Cost of revenue

%

)%

Gross profit

%

%

Equity in earnings of joint ventures

%

%

General and administrative expenses

)

)

%

)

)

%

Restructuring and acquisition costs

)

-

NM

)

-

NM

Income from operations

)%

)%

Other income (expense)

)

)%

)

)%

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

)%

)%

5

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

Three

Revenue

$

$

$

-

$

-

$

Cost of revenue

-

-

Gross profit

-

-

Equity in earnings of joint ventures

-

General and administrative expenses

-

-

)

)

)

Restructuring and acquisition costs

-

-

-

)

)

Income (loss) from operations

$

$

$

)

$

)

$

Gross profit as a % of revenue

%

%

-

-

%

Three

Revenue

$

$

$

$

-

$

Cost of revenue

-

-

Gross profit

-

Equity in earnings (loss) of joint ventures

)

-

General and administrative expenses

-

-

)

)

)

Income (loss) from operations

$

$

$

)

$

)

$

Gross profit as a % of revenue

%

%

-

-

%

Six

Revenue

$

$

$

-

$

-

$

Cost of revenue

-

Gross profit (loss)

)

-

Equity in earnings of joint ventures

-

General and administrative expenses

-

-

)

)

)

Restructuring and acquisition costs

-

-

-

)

)

Income (loss) from operations

$

$

$

)

$

)

$

Gross profit as a % of revenue

%

%

-

-

%

Contracted backlog

$

$

$

-

$

-

$

Awarded backlog

-

-

Total backlog

$

$

$

-

$

-

$

Total backlog – Design only

$

$

$

-

$

-

$

Six

Revenue

$

$

$

$

-

$

Cost of revenue

-

-

Gross profit

-

Equity in earnings (losses) 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

Six 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

Six 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

Six 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 (expense)

)

)

Fair value adjustment included in other income

)

)

)

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) and valuation allowance

Adjusted income tax expense for 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

Six Months Ended

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) and valuation allowance

)

)

)

)

)

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

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) and valuation allowance

)

)

)

)

)

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

$

$

$

$

$

AECOM

Regulation G Information

(in

millions, except per share data)

Three Months Ended

Six Months Ended

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 & 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

$8

Noncore AECOM Capital

$3

Fair value adjustment

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

$8

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.