Allegion (ALLE) 10-K risk factor changes: FY2025 vs FY2024

[removed: As a result, weakness or instability in one or more of these markets could] slow demand for new construction or remodeling projects and cause current and potential customers to delay or cancel capital projects or otherwise choose not to make purchases, which could negatively impact the demand for our products and solutions and result in declines in our revenues, profitability and cash flows.

Additionally, we procure various [removed: product s,] [added: products,] parts, components and services from supplier partners located throughout the world.

[removed: As an example, in February] [added: Throughout] 2025, the U.S. government announced tariffs on imports from [removed: Canada, Mexico and China,] [added: several] countries from which we manufacture and/or [removed: export] [added: import] products and components.

[removed: The degree to] which any new or increased tariffs would impact our business and results of operations is largely dependent on factors outside of our control, including [removed: if] the [removed: tariffs are ultimately implemented, the] timing, duration and magnitude of their implementation, and responses or retaliatory actions taken by other countries or regions.

Approximately [removed: 24%] [added: 25%] of our [removed: 2024] [added: 2025] Net revenues were derived outside the U.S., and we expect sales to non-U.S. customers to continue to represent a significant portion of our consolidated Net revenues.

At December 31, [removed: 2024,] [added: 2025,] the net carrying value of our goodwill and other indefinite-lived intangible assets totaled approximately [removed: $1.5] [added: $1.9] billion and [removed: $101] [added: $107.2] million, respectively.

Future instability in U.S. and global capital and credit markets, including market disruptions, limited liquidity and interest rate volatility or reductions in the credit ratings assigned to us by independent ratings agencies, could reduce our access to capital [added: markets, increase our costs of borrowing or adversely impact our ability to obtain favorable financing terms in the future.]

We had approximately [removed: $2] [added: $2.0] billion of outstanding indebtedness at December 31, [removed: 2024.][added: 2025.]

[removed: In addition, we] [added: We] have a senior unsecured revolving credit facility (the "Revolving Facility") that permits borrowings of up to [removed: $750 million.][added: $1.0 billion.]

[removed: The Credit Facilities had a combined outstanding variable rate balance of $212.5 million at] [added: At] December 31, [removed: 2024,] [added: 2025, we had $190.6 million outstanding on the Revolving Facility,] which exposes us to variable interest rate risk.

If variable base rates under the [removed: Credit Facilities continue to] [added: Revolving Facility] increase in the future, our Interest expense could increase as well.

For more details about our interest rate exposure under the [removed: Credit Facilities,] [added: Revolving Facility,] please see Part II.

[removed: End] [added: End-] users are continually adopting more advanced technologies in their facilities and homes, accelerated by the increasing adoption of IoT technologies and connected devices, which will require us to devote significant effort and resources to the development, maintenance and enhancement of our IT Systems (as defined below) and other infrastructure required to support and/or enhance the functionality of our electronic products and solutions.

The speed of development by our competitors and new market [added: entrants is increasing.]

Implementation of new processes to our operations could cause disruptions and may prove to be more difficult, costly or [removed: time consuming] [added: time-consuming] than expected.

These effects could recur in connection with future acquisitions and other organizational [removed: changes] [added: changes,] and our results of operations could be negatively affected.

[removed: Any assessment of the potential impact of future climate change legislation, regulations, or] industry standards, as well as any international treaties and accords, is uncertain given the wide scope of potential regulatory change in the countries in which we operate.

Global health [removed: crises] [added: crises,] or outbreak and spread of a communicable disease or virus in the countries where we operate or sell products and provide services, could adversely affect our operations and financial performance.

We may be subject to risks relating to [added: systems failures or disruptions to] our information technology and operational technology systems.

In addition, the implementation of new IT Systems may be more difficult, costly or [removed: time consuming] [added: time-consuming] than expected and cause disruptions in our operations and, if not properly implemented and maintained, negatively impact our business.

Cybersecurity attacks and intrusion efforts are continuous and evolving, and in certain cases they have been successful at the [added: most robust institutions.]

[removed: Such issues could result in the disruption of business processes, network degradation] and system downtime, along with the potential that a third party will exploit our critical assets such as intellectual property, proprietary business information and data related to our customers, suppliers and business partners.

We procure certain products, including raw materials and other commodities, including steel, zinc, brass and other non-ferrous metals, as well as parts, components (including electronic components) and logistical services from supplier partners located [added: throughout the world.]

If we are unable to effectively manage these relationships, or if these third parties experience delays, disruptions, shortages of materials, labor, electronic and other components, capacity constraints, new or increased tariffs and/or other trade restrictions, regulatory issues or quality control problems in their operations, freight delays and other supply chain constraints and [removed: disruptions, or otherwise fail to meet our future requirements for timely delivery, our ability to ship and deliver certain of our products to our customers could be impaired and our business could be harmed.]

Our reputation and the reputation of our brands, including the perception held by our customers, end-users, business partners, investors, other key stakeholders and the communities in which we do [removed: business] [added: business,] are influenced by various factors.

If we fail, or are perceived to have failed, in any number of ESG matters, such as environmental stewardship, good corporate governance, workplace conduct and support for local communities, or to [removed: effec tively] [added: effectively] respond to changes in, or new, legal, regulatory or reporting requirements concerning climate change or other sustainability concerns, we may be subject to regulatory fines and penalties, and our reputation or the reputation of our brands may suffer.

Further, we have made several public commitments regarding our intended reduction of carbon [removed: emissions, including a commitment to achieve carbon neutral emissions by 2050.][added: emissions.]

Our tax returns are subject to review by taxing authorities in the jurisdictions in which [added: we operate.]

[removed: Although we believe our estimates are reasonable, the ultimate tax outcome may differ from the] amounts recorded in our Consolidated Financial Statements and may materially affect our financial results in the period or periods for which such determination is made.

[removed: In particular, any changes and/or differing interpretations] of [removed: applicable tax law that have the effect of] disregarding our incorporation in Ireland, limiting our ability to take advantage of tax treaties between jurisdictions, modifying or eliminating the deductibility of various currently deductible payments or increasing the tax burden of operating or being resident in a particular country, could subject us to increased taxation.

Our Memorandum and Articles of Association [removed: contains] [added: contain] provisions to deter takeover practices, inadequate takeover bids and unsolicited offers.

As a result, weakness or instability in one or more of these markets could

In 2025, we have offset inflation due to tariffs with pricing actions.

The degree to

Any assessment of the potential impact of future climate change legislation, regulations, or

As artificial intelligence and machine learning (“AI”) technologies advance and are increasingly adopted by threat actors, the frequency, sophistication and scale of cyberattacks may increase.

AI‑enabled methods, including automated vulnerability discovery, automated credential‑stuffing, deepfake‑assisted social engineering and other generative‑AI techniques, could make attacks more successful and harder to detect.

In addition, our own or third‑party use of AI could introduce new classes of vulnerabilities.

These developments could increase the likelihood and potential impact of disruptions, unauthorized disclosures or other compromises of our IT Systems, products or data, and could increase our remediation and compliance costs, harm our reputation and subject us to regulatory or legal liability.

Cybersecurity incidents could disrupt business operations, result in the loss of critical and confidential information, and adversely impact the Company's reputation, operating results, and financial condition.

Such issues could result in the disruption of business processes, network degradation

We are exposed to risks related to compliance with data privacy and governance laws.

disruptions, or otherwise fail to meet our future requirements for timely delivery, our ability to ship and deliver certain of our products to our customers could be impaired and our business could be harmed.

Our operations are subject to regulatory risks related to domestic and international, environmental, health and safety laws.

Although we believe our estimates are reasonable, the ultimate tax outcome may differ from the

In particular, any changes and/or differing interpretations of applicable tax law that have the effect

Subsequently, the tariffs on Canada and Mexico were paused.

We are evaluating the potential impact of these actions and considering what, if any, steps we take to mitigate the impact of the tariffs.

markets, increase our costs of borrowing or adversely impact our ability to obtain favorable financing terms in the future.

At December 31, 2024, our borrowings included a variable rate term loan facility (the "Term Facility", and together with the Revolving Facility, the "Credit Facilities").

entrants is increasing.

Additionally, our pursuit of new business opportunities that diverge from our core business may expose us to different risks and uncertainties other than those described in this “Risk Factors” section or elsewhere in this Annual Report on Form 10-K.

Disruptions or breaches of our information systems could adversely affect us.

most robust institutions.

throughout the world.

Our operations are subject to regulatory risks.

we operate.

Our leading brands include [removed: CISA, Interflex, LCN, Schlage, SimonsVoss] [added: CISA®, Interflex®, LCN®, Schlage®, SimonsVoss®] and Von [removed: Duprin.][added: Duprin®.]

Business and Industry Trends and [removed: Outlook][added: Outlook and Global Trade and Macroeconomic Environment]

[removed: In February] [added: Throughout] 2025, the [removed: US] [added: U.S.] government announced tariffs on imports from [removed: Mexico, Canada and China,] [added: several] countries from which we manufacture and/or import products and components.

We [removed: are evaluating] [added: continue to analyze] the [removed: potential] impact of [removed: these actions] [added: changes in tariffs] and [removed: considering] what, if any, steps, including pricing actions, we [added: may] take to mitigate the impact of the tariffs.

[removed: 2024] [added: 2025] and [removed: 2023] [added: 2024] Significant Events

On [removed: May 20, 2024,] [added: December 9, 2025,] we amended and restated our [removed: Credit Facilities] [added: unsecured revolving credit facility (the "Revolving Facility")] which, among other things, [removed: (i)] increased the total commitment [removed: on the Revolving Facility] from [removed: $500.0] [added: $750.0] million to [removed: $750.0 million, (ii)] [added: $1.0 billion, and] extended the maturity [removed: of the Revolving Facility] from [removed: November 18, 2026 to] May 20, [removed: 2029, and (iii) transitioned the benchmark interest rate from the Bloomberg Short-Term Bank Yield Index (“BSBY”)] [added: 2029] to [removed: the Secured Overnight Financing Rate (“SOFR”) for the Credit Facilities.][added: May 20, 2030.]

The 5.600% Senior Notes require semi-annual interest payments on May 29 and November [removed: 29,] [added: 29 of each year] and mature on May 29, 2034.

During [removed: 2023,] [added: 2025,] we paid quarterly dividends of [removed: $0.45] [added: $0.51] per ordinary share to shareholders on record as of March [removed: 15, 2023,] [added: 14, 2025,] June [removed: 15, 2023,] [added: 13, 2025,] September [removed: 18, 2023,] [added: 15, 2025,] and December [removed: 18, 2023,] [added: 16, 2025,] for a total of [removed: $158.7] [added: $175.3] million, and repurchased approximately [removed: 0.5] [added: 0.6] million ordinary shares for approximately [removed: $59.9] [added: $80.0] million.

| Dollar amounts in millions, except per share amounts | | | | | | [removed: 2024] [added: 2025] | | | | | | % of Net revenues | | | | | | [removed: 2023] [added: 2024] | | | | | | % of Net revenues | | | | | | | | | | | | | | |

| Net revenues | | | | | | $ | [removed: 3,772.2] [added: 4,067.3] | | | | | | | | | | | $ | [removed: 3,650.8] [added: 3,772.2] | | | | | | | | | | | | | | | | | | | |

| Cost of goods sold | | | | | | [removed: 2,103.7] [added: 2,229.0] | | | | | | [removed: 55.8] [added: 54.8] | | % | | | | [removed: 2,069.3] [added: 2,103.7] | | | | | | [removed: 56.7] [added: 55.8] | | % | | | | | | | | | | | | |

| Selling and administrative expenses | | | | | | [removed: 887.8] [added: 978.8] | | | | | | [removed: 23.5] [added: 24.1] | | % | | | | [removed: 865.6] [added: 887.8] | | | | | | [removed: 23.7] [added: 23.5] | | % | | | | | | | | | | | | |

| Operating income | | | | | | [removed: 780.7] [added: 859.5] | | | | | | [removed: 20.7] [added: 21.1] | | % | | | | [removed: 708.4] [added: 780.7] | | | | | | [removed: 19.4] [added: 20.7] | | % | | | | | | | | | | | | |

| Interest expense | | | | | | [removed: 102.0] [added: 101.0] | | | | | | | | | | | | [removed: 93.1] [added: 102.0] | | | | | | | | | | | | | | | | | | | | |

| Other income, net | | | | | | [removed: (20.1)] [added: (9.9)] | | | | | | | | | | | | [removed: (1.9)] [added: (20.1)] | | | | | | | | | | | | | | | | | | | | |

| Earnings before income taxes | | | | | | [removed: 698.8] [added: 768.4] | | | | | | | | | | | | [removed: 617.2] [added: 698.8] | | | | | | | | | | | | | | | | | | | | |

| Provision for income taxes | | | | | | [removed: 101.3] [added: 124.6] | | | | | | | | | | | | [removed: 76.6] [added: 101.3] | | | | | | | | | | | | | | | | | | | | |

| Net earnings | | | | | | [removed: 597.5] [added: 643.8] | | | | | | | | | | | | [removed: 540.6] [added: 597.5] | | | | | | | | | | | | | | | | | | | | |

| Diluted net earnings per ordinary [removed: share attributable to Allegion plc ordinary shareholders:] [added: share:] | | | | | | $ | [removed: 6.82] [added: 7.44] | | | | | | | | | | | $ | [removed: 6.12] [added: 6.82] | | | | | | | | | | | | | | | | | | | |

For a discussion of our results of operations for the year ended December 31, [removed: 2023,] [added: 2024,] compared to the year ended December 31, [removed: 2022,] [added: 2023,] see “Part II, Item 7.

Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our [removed: 2023] [added: 2024] Annual Report on Form 10-K filed with the SEC on February [removed: 20, 2024.][added: 18, 2025.]

Net revenues for the year ended December 31, [removed: 2024,] [added: 2025,] increased by [removed: 3.3%,] [added: 7.8%,] or [removed: $121.4] [added: $295.1] million, as compared to the year ended December 31, [removed: 2023,] [added: 2024,] due to the following:

| Currency exchange rates | | | [removed: (0.1)] [added: 2.3] | | [added: | | | | 0.1 | |] % |

The increase in Net revenues was driven by improved [removed: pricing and] [added: pricing,] the [added: favorable] impact [removed: from] [added: of] acquisitions [removed: made during the year.][added: and higher volumes.]

These increases were partially offset by [removed: lower volumes and unfavo rable] [added: unfavorable] foreign currency exchange rate movements.

For the year ended December 31, [removed: 2024,] [added: 2025,] Cost of goods sold as a percentage of Net revenues decreased to [removed: 55.8%] [added: 54.8%] from [removed: 56.7%,] [added: 55.8%,] as compared to the year ended December 31, [removed: 2023,] [added: 2024,] due to the following:

| Pricing and productivity in excess of inflation and investment spending | | | [removed: (0.8)] [added: (0.1)] | | % |

| Volume / product mix | | | [removed: (0.1)] [added: (0.6)] | | % |

| Acquisitions | | | [removed: 0.1] [added: 12.5] | | [added: | | | | (0.1) | |] % |

Cost of goods sold as a percentage of Net revenues decreased primarily due to [added: favorable product mix, favorable foreign currency exchange rate movements, a year-over-year decrease in restructuring, integration, and acquisition expenses and] pricing and productivity, which exceeded the impacts from inflation and investment [removed: spending, favorable product mix and favorable foreign currency exchange rate movements.][added: spending.]

Pricing and productivity in excess of inflation and investment spending includes the impact to [removed: Costs] [added: Cost] of goods sold from pricing, as defined above, in addition to productivity, inflation and investment spending.

Expenses related to increased head count for strategic initiatives, new facilities or other significant spending for strategic [removed: initiatives or new product and channel development, are captured in investment spending.]

For the year ended December 31, [removed: 2024,] [added: 2025,] Selling and administrative expenses as a percentage of Net revenues [removed: decreased] [added: increased] to [removed: 23.5%] [added: 24.1%] from [removed: 23.7%,] [added: 23.5%,] as compared to the year ended December 31, [removed: 2023,] [added: 2024,] due to the following:

| Inflation [added: and investment spending] in excess of [removed: productivity] [added: pricing] and [removed: investment spending] [added: productivity] | | | [removed: 0.1] [added: (0.2)] | | [added: | | | | (0.1) | |] % |

| Volume leverage | | | [removed: 0.1] [added: (0.2)] | | % |

| Restructuring / integration / acquisition expenses | | | [removed: (0.3)] [added: 0.3] | | % |

Selling and administrative expenses as a percentage of Net revenues [removed: decreased] [added: increased] due to [added: inflation in excess of productivity and investment spending and] a year-over-year [removed: decrease] [added: increase] in restructuring, integration, and acquisition [removed: expenses and the beneficial impacts from current and prior year acquisition activity.][added: expenses.]

These [removed: decreases] [added: increases] were partially offset by [removed: inflation] [added: lower operating margin from pricing and productivity] in excess of [removed: productivity] [added: inflation] and investment [removed: spending, as well as] [added: spending and] the unfavorable impact [removed: of lower volumes.][added: on operating margin from recent acquisitions.]

Operating income for the year ended December 31, [removed: 2024,] [added: 2025,] increased [removed: $72.3] [added: $78.8] million as compared to the year ended December 31, [removed: 2023,] [added: 2024,] and Operating margin increased to [removed: 20.7%] [added: 21.1%] from [removed: 19.4%,] [added: 20.7%,] due to the following:

| Pricing and productivity in excess of inflation and investment spending | | | [removed: 44.5] [added: 8.7] | | | | | | [removed: 0.7] [added: (0.4)] | | % |

In 2025, we delivered high-single digit revenue growth compared to 2024, driven by favorable pricing and volume growth, as well as the impact from acquisitions made during the year.

Demand for electronic security products has also remained strong and continues to be a long-term growth driver.

In 2025, we offset inflation due to tariffs with pricing actions.

We estimate we source approximately 20-25% of cost of goods sold ("COGS") from Mexico, less than 5% of COGS from China, and 5-10% of COGS from all other non-US countries.

Additionally, this could impact future demand.

We have made several recent business acquisitions across our Allegion Americas and Allegion International segments.

The acquisitions align with our strategy of expanding our mechanical and electronic product portfolios and adding complimentary software and services.

This includes the acquisition of ELATEC, including Elatec GmbH and other group entities ("ELATEC") on July 1, 2025.

ELATEC is a manufacturer of security and access technology based in Germany, and the acquisition helps expand our global electronics portfolio in attractive end markets while also increasing strategic relationships with channel partners.

The aggregate consideration, inclusive of contingent consideration and net of cash acquired, for all acquisitions completed in 2025 and 2024 was approximately $631.6 million and $147.2 million, respectively.

Businesses acquired in 2025 generated $93.0 million of Net revenues since the acquisition dates, which is included within our Consolidated Statements of Comprehensive Income.

See Note 3 to the Consolidated Financial Statements for further information.

We used borrowings under the Revolving Facility to repay our outstanding term loan, which was scheduled to mature in November 2026.

Outstanding borrowings under the Revolving Facility were $190.6 million at December 31, 2025.

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Pricing | | | 3.1 | | % |

| Volume | | | 1.0 | | % |

| Acquisitions / divestitures | | | 3.1 | | % |

| Total | | | 7.8 | | % |

| Total | | | (1.0) | | % |

initiatives or new product and channel development, are captured in investment spending.

| Total | | | 0.6 | | % |

| Acquisitions / divestitures | | | 24.4 | | | | | | — | | % |

| December 31, 2025 | | | $ | 859.5 | | | | | 21.1 | | % |

| Pricing | | | 3.6 | | % |

| Volume | | | 1.6 | | % |

| Acquisitions | | | 1.8 | | % |

| Total | | | 6.9 | | % |

Excluding Net revenues of businesses acquired in 2025, Net revenues from non-residential products grew by a high-single digits percent compared to the prior year, driven by increased pricing and higher volumes, and Net revenues from residential

products decreased by a low-single digits percent compared to the prior year, driven by lower volumes, partially offset by increased pricing.

| December 31, 2025 | | | $ | 896.5 | | | | | 27.9 | | % |

| | | | | | |

| Pricing | | | 1.2 | | % |

| Volume | | | (1.3) | | % |

| Acquisitions / divestitures | | | 8.2 | | % |

| Total | | | 11.7 | | % |

| Currency exchange rates | | | 6.6 | | | | | | 0.7 | | % |

| Acquisitions / divestitures | | | 11.9 | | | | | | 0.7 | | % |

In 2024, we delivered low-single-digit revenue growth in both our Allegion Americas and Allegion International segments, as well as operating margin expansion and strong cash flows from operations.

We continued to execute our strategy of balanced capital allocation, evidenced by our acquisition activity, dividends paid and shares repurchased throughout the year.

Within our Allegion Americas segment, both the non-residential and residential businesses grew by a low single-digits percent compared to the prior year.

Our Allegion International segment also grew by a low single-digits percent.

We experienced a softening of demand within certain businesses in our Allegion International segment.

Electronic security products and solutions revenue declined by a low single-digit percent in 2024, as comparisons to the prior year were impacted by supply chain dynamics.

We expect growth in global electronic security product and solutions to continue to outperform growth in mechanical products and solutions over the long-term, as end-users continue to adopt newer technologies in their facilities and homes.

We expect continued growth in 2025, and for the security products industry to benefit from increased concerns about safety and security and technology-driven innovation.

Global Trade and Macroeconomic Environment

Subsequently, the tariffs on imports from Mexico and Canada were paused.

On February 1, 2024, we, through our subsidiaries, acquired 100% of Boss Door Controls, a door solutions provider in the United Kingdom.

Boss Door Controls is reported in the Allegion International segment.

On March 4, 2024, we, through our subsidiaries, acquired 100% of Montajes electronicos Dorcas S.L. ("Dorcas"), a manufacturer of electromechanical access control solutions based in Spain.

Dorcas is reported in the Allegion International segment.

On June 3, 2024, we, through our subsidiaries, acquired 100% of Krieger Specialty Products, LLC ("Krieger"), a manufacturer of high-performance special purpose doors and windows based in the United States.

Krieger is reported in the Company's Allegion Americas segment.

On June 10, 2024, we, through our subsidiaries, acquired 100% of Unicel Architectural Corp. ("Unicel"), a manufacturer of advanced glass, timber and aluminum building solutions based in Canada.

Unicel is reported in the Company's Allegion Americas segment.

On October 18, 2024, we, through its subsidiaries, acquired 100% of SOSS Door Hardware ("SOSS"), a manufacturer of premium hinges and door hardware based primarily in the United States.

SOSS is reported in the Company's Allegion Americas segment.

On January 3, 2023, we, through our subsidiaries, acquired plano.

group ("plano"), a SaaS workforce management solution business based in Germany.

Plano is reported in our Allegion International segment.

2023 Impairment of Intangible Assets

As discussed in Note 7 to the Consolidated Financial Statements, the results of our 2023 impairment test indicated that the estimated fair value of two indefinite-lived trade names in our International segment were determined to be less than book value.

Consequently, intangible asset impairment charges totaling $7.5 million were recorded in 2023 in our Allegion International segment.

The impairments related to declines in volumes which reduced the brands' expected future cash flows.

On May 29, 2024, Allegion US Holding Company Inc. ("Allegion US Hold Co"), our wholly-owned subsidiary, issued $400.0 million principal amount of 5.600% Senior Notes due 2034 (the “5.600% Senior Notes”).

Net proceeds from the 5.600% Senior Notes were used to repay the $400.0 million outstanding on our 3.200% Senior Notes due 2024 (the "3.200% Senior Notes") on October 1, 2024.

We incurred and deferred a total of $7.6 million of discounts and financing costs associated with amending and restating our Credit Facilities and issuing our 5.600% Senior Notes, which is being amortized to Interest expense over their respective terms.

| Impairment of intangible assets | | | | | | — | | | | | | — | | % | | | | 7.5 | | | | | | 0.2 | | % | | | | | | | | | | | | |

| Less: Net earnings attributable to noncontrolling interests | | | | | | — | | | | | | | | | | | | 0.2 | | | | | | | | | | | | | | | | | | | | |

| Net earnings attributable to Allegion plc | | | | | | $ | 597.5 | | | | | | | | | | | $ | 540.4 | | | | | | | | | | | | | | | | | | | |

| Pricing | | | 2.4 | | % |

| Volume | | | (0.3) | | % |

| Acquisitions | | | 1.3 | | % |

| Total | | | 3.3 | | % |

| Total | | | (0.9) | | % |

These decreases were partially offset by the impacts to gross margin associated with our acquired businesses.

| Acquisitions | | | (0.1) | | % |

We actively manage material currency exposures that are associated with purchases and sales and other [removed: assets and liabilities at the legal entity level; however, we do not hedge currency translation risk.]

Based on the firmly committed currency derivative instruments in place at December 31, [removed: 2024,] [added: 2025,] a hypothetical change in fair value of those derivative instruments assuming a 10% adverse change in exchange rates would result in an additional unrealized loss of approximately [removed: $3.4] [added: $4.3] million.

We do not have committed commodity derivative instruments in place at December 31, [removed: 2024.][added: 2025.]

Of our total outstanding indebtedness of $2.0 billion as of December 31, [removed: 2024,] [added: 2025,] approximately [removed: 89%] [added: 90%] incurs fixed-rate interest and is therefore not exposed to the risk of rising variable interest rates.

However, outstanding borrowings under the [removed: Credit Facilities] [added: Revolving Facility] accrue variable rate interest at our option of (i) a Secured Overnight Financing Rate ("SOFR") plus the applicable margin or (ii) a base rate plus the applicable margin.

At December 31, [removed: 2024,] [added: 2025,] the outstanding borrowings of [removed: $212.5] [added: $190.6] million under the [removed: Credit Facilities] [added: Revolving Facility] accrue interest at SOFR plus a margin of [removed: 1.225%,] [added: 1.125%,] resulting in an interest rate of [removed: 5.582%.][added: 4.902%.]

We are [removed: a lso] [added: also] exposed to the risk of rising interest rates to the extent that we fund our operations with short-term or variable-rate borrowings.

We have [removed: $18.5] [added: $190.6] million [removed: of letters of credit] outstanding and unused availability of [removed: $731.5] [added: $784.2] million under the Revolving Facility as of December 31, [removed: 2024.][added: 2025.]

A hypothetical increase of 1% in the interest rate on the variable rate borrowings under our [removed: Credit Facilities] [added: Revolving Facility] would increase our interest expense over the next twelve months by [removed: $2.1] [added: $2.0] million based on the balances outstanding [removed: for these borrowings] as of December 31, [removed: 2024.][added: 2025.]

If the SOFR or other applicable base rates of the [removed: Credit Facilities] [added: Revolving Facility] increase in the future, our Interest expense could increase.

assets and liabilities at the legal entity level; however, we do not hedge currency translation risk.

[removed: Central] [added: Both developing and partnering are central] to our work [removed: is partnering and developing ecosystems] to create [removed: flawless,] [added: ecosystems that enable] seamless access experiences and [removed: enable] an uninterrupted and secure flow of people and assets.

We offer an extensive and versatile portfolio of security and access control [removed: security] products and solutions across a range of market-leading brands.

Our experts [removed: across] [added: around] the [removed: globe] [added: world] deliver high-quality hardware, software, services and systems, and we use our deep expertise to serve as trusted partners to end-users who seek customized solutions to their security needs.

Security and access control [removed: security] products and solutions are critical elements in every building and home.

- Our extensive and versatile product and service portfolio, combined with our deep expertise, which [removed: enables] [added: enable] us to deliver the right products and solutions to meet diverse security and functional specifications and to successfully and securely integrate into leading technologies and systems;

- Our consultative approach and expertise, which [removed: enables] [added: enable] us to develop the most efficient and appropriate building security and access control specifications to fulfill the unique needs of our end-users and their partners, including architects, designers, security consultants, contractors, homebuilders and engineers;

- The shift to [removed: a] digital, interconnected and increasingly interoperable environments that require a strong ecosystem of partners.

[removed: ][added: ]

We sell a wide range of security and access control solutions for end-users in commercial, institutional and residential facilities worldwide, including [removed: the] education, healthcare, government, hospitality, retail, commercial office and single and multi-family residential markets.

[removed: Our] [added: Sold under] leading brands [removed: include CISA®,] [added: like Bricard®, CISA, ELATEC®,] Interflex®, [removed: LCN®,] [added: LCN,] Schlage®, [removed: SimonsVoss®,] [added: SimonsVoss®] and Von [removed: Duprin®.][added: Duprin;]

During the year ended December 31, [removed: 2024,] [added: 2025,] we generated Net revenues of [removed: $3,772.2] [added: $4,067.3] million and Operating income of [removed: $780.7] [added: $859.5] million.

| Products and Services | | | | | | Brands | | | | | | Year | | | | | | Innovation | | | [removed: | | | | | | | | | | | | | | | | | |]

| Door controls, door control systems, and exit devices | | | | | | CISA, [added: LCN,] Stanley Access Technologies, Von [removed: Duprin] [added: Duprin,] | | | | | | [removed: 2023/2024] [added: 2024/2025] | | | | | | CISA Multitop Matic Exit, a secondary lock for single and double leaf aluminum and iron panic doors, brings to market the only "Made in Italy" counter-lock featuring a long faceplate. [removed: Enables the automatic] [added: LCN Senior Swing 9500IQ/2800, self-adjusted auto operator, is a fully loaded controller with innovative AdaptivIQ™ technology, minimizing seasonal adjustments] and [removed: secure locking of the main leaf against the door jam.] [added: reducing nuisance calls.] Stanley Access Technologies new automatic door/window solution for increased efficiencies for drive-through restaurants (DuraGlide DT). Telescopic manual and automatic version of ICU doors, providing the biggest clear door opening in the industry, proprietary handle design and the slimmest header (ProCare 8500). More energy-efficient and robust hurricane-rated sliding doors (DuraStorm Class E). Von Duprin 70 series delivering both performance and value at a medium price point [removed: and is ideal] for heavy duty warehouse, industrial, office, multifamily, retail and hospitality applications. [removed: | | | | | | | | | | | | | | | | | |] [added: Von Duprin Outdoor Defense for 98/99 exit devices protects device functionality in outdoor applications, as it’s engineered to safeguard against moisture, temperature variations and corrosion in normal outdoor conditions.] | | |

We also face competition in various markets and product categories throughout the world, including Fortune Brands Innovations, Inc. in the North American residential [removed: market.][added: market and from private label brands.]

[added: |] Products and Services [added: | | | | | | Brands | | | | | | Year | | | | | | Innovation | | |]

In addition, we offer a full range of automatic entrance solutions, including sliding, swing, folding and ICU doors, as well as an array of sensors, controls and security options for commercial and institutional [removed: buildings;][added: buildings.]

- *Doors, glass and door systems, and accessories*: A portfolio of hollow metal doors and frames, glass and specialty door systems, as well as a variety of additional security products and components, including hinges, door pulls, door stops, [removed: bike lights,] louvers, weather stripping, thresholds and other [removed: accessories, as well as certain bathroom fittings and accessibility aids;][added: accessories.]

- *Electronic security products and access control systems, including time, attendance and workforce productivity*: A broad range of electronic locks, electronic door closers and exit devices, access control products and systems, credentials and credential readers and accessories, including Bluetooth Low Energy, Power over Ethernet and cloud-based solutions, including products designed to help business customers manage and monitor workforce access, attendance and employee [removed: scheduling;][added: scheduling.]

*•Locks, locksets, portable locks, and key systems*: A broad array of cylindrical, tubular and mortice door locksets, security levers and master key systems that are used to protect and control access and a range of portable security products, including bicycle, small vehicle and travel [removed: locks; and][added: locks.]

Additionally, we offer software as a service ("SaaS") offerings throughout the U.S. and internationally, including access control, platform integration and workforce management solutions through [removed: our Interflex business.][added: brands like Interflex, Yonomi® and Zentra® among others.]

We [removed: also] offer ongoing aftermarket [removed: services,] [added: services and] design and installation offerings [removed: and locksmith services] in select locations.

Our 10 largest customers represented approximately [removed: 27%] [added: 26%] of our total Net revenues in [removed: 2024.][added: 2025.]

No single customer represented 10% or more of our total Net revenues in [removed: 2024.][added: 2025.]

Both groups are supported by dedicated customer care and technical [removed: sales-support] [added: sales support] specialists worldwide.

For example, we are members of the American Association of Automatic Door Manufacturers (AAADM), [added: American Institute of Architects (AIA),] Builders Hardware Manufacturers Association (BHMA), Connectivity Standards Alliance (CSA), [added: Door Security and Safety Foundation (DSSF),] Construction Specification Institute, Door and Hardware Institute (DHI), FiRa Consortium, National Association of State Fire Marshals (NASFM), Partner Alliance for Safer Schools (PASS), Physical Security Interoperability Alliance (PSIA), Security Industry Association (SIA), Security Technology Alliance, Z-Wave Alliance, The European Federation of Associations of Locks and Builders Hardware Manufacturers (ARGE), ASSOFERMA (Italy), BHE (Germany), Door Hardware Federation (UK), Open Security Standards Association (Germany) and UNIQ (France).

We operate [removed: 34] [added: 37] principal production and assembly facilities – [removed: 21] [added: 22] in our Allegion Americas segment and [removed: 13] [added: 15] in our Allegion International segment.

Much of our U.S. based residential portfolio is manufactured in the Baja region of Mexico under the Maquiladora, [removed: Manufacturing and Export Services Industry ("IMMEX") program.]

We work actively in the U.S. and internationally to [removed: try to] [added: help] ensure the protection and enforcement of our intellectual property rights.

We use trademarks on nearly all [removed: of] our products and believe such distinctive marks are an important factor in creating a market for our goods, in identifying us and in distinguishing our products from others.

[removed: Our research and development] [added: R&D] resources are managed globally to [removed: permit leveraging of innovative] [added: leverage] technologies and product platforms across [removed: businesses as well as to optimize] [added: our business units, while optimizing] development [removed: cost] [added: costs] and resource [removed: efficiency.][added: utilization.]

[removed: Further,] [added: Additionally,] we operate a global technology center in Bengaluru, India, which [removed: augments] [added: provides engineering support] and [removed: supports] [added: augments the capabilities of] our regional [removed: engineering and technology] [added: R&D] teams.

However, certain other businesses typically experience higher sales in the fourth [removed: quarter] [added: quarter,] due to demand for services and project timing.

As a testament to this, Allegion received the [removed: 2024] Gallup Exceptional Workplace [removed: Award.][added: Award in both 2024 and 2025.]

As of December 31, [removed: 2024,] [added: 2025,] we had approximately [removed: 14,400] [added: 13,300] employees worldwide.

Approximately [removed: 48%] [added: 45%] of employees are employed within the U.S. and approximately [removed: 52%] [added: 55%] based outside the U.S. Among our U.S. based employees, approximately [removed: 14%] [added: 16%] were subject to collective bargaining agreements with various labor unions.

We use a variety of recruitment tactics to [added: help] ensure a strong base of labor for manufacturing operations and to build the base of talent with these capabilities.

Engagement surveys provide a mechanism to gather direct employee feedback, give team leaders insights on potential areas of [removed: focus] [added: focus,] and allow leaders to prioritize and act on their teams’ foundational, inclusion, growth and development needs.

Strengths-based leadership is an element of our commitment to inclusion: the more employees understand their own strengths, the better equipped they are to add value and appreciate the contributions of [removed: diverse members of their teams.][added: team members.]

We monitor leading and lagging indicators related to health and safety as part of our ongoing management of the Allegion Operating System and [added: we] regularly update the Corporate Governance and Nominating Committee of the Board of Directors on key developments and employee health and safety topics.

We [removed: continously] [added: continuously] work to promote and protect the health and safety of [removed: our] [added: the] environment, [removed: associates,] [added: employees,] customers, contractors and members of our local communities worldwide.

Sold under leading brands like Briton®, CISA®, LCN®, STANLEY® Access Technologies ("Stanley Access Technologies" or "Stanley"; "STANLEY" is the property of Stanley Logistics L.L.C.) and Von Duprin®;

Sold under leading brands like Falcon®, Glynn-Johnson®, Ives®, Republic™, Steelcraft®, TGP® and Trimco®;

Sold under leading brands like Bricard, AXA, CISA, Falcon, Gainsborough®, Schlage and SimonsVoss; and

- Our innovative, market-leading brands, many of which are known as pioneers in safety and / or invented their product categories, including: CISA, Interflex, LCN, Schlage, SimonsVoss and Von Duprin;

Our portfolio spans more than 40 brands, including brands like CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin.

The following table presents percentage of Net revenues by category.

| | | | | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| Doors, glass and door systems, and accessories | | | | | | Unicel | | | | | | 2024/2025 | | | | | | UL Certification of American Architectural Manufacturers Association (AAMA) 501.8 human impact resistant curtain wall using durable SentryGlas Plus laminated glass (Unicel). | | |

| | | | | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| Electronic security products and access control systems, including time, attendance, and workforce productivity | | | | | | Brisant, ELATEC, Schlage, SimonsVoss | | | | | | 2024/2025 | | | | | | Brisant Ultion Nuki 2025 features built-in WiFi, enhanced motor performance, Matter compatibility ensuring it can work with home platforms including Apple Home, Google Home, Amazon Alexa and Samsung SmartThings. ELATEC software development toolkit, TWN4 DevPack 5.07, delivers faster performance, stronger security and greater flexibility for configuring and managing RFID readers. Schlage launched Resident Key mobile credential for multifamily properties through internal (Zentra) and external technology alliances. Achieved first-to-market with the credential in Apple Wallet® and among the first in Google Wallet™, both supporting unique No-Tour system. Schlage XE360 series electronic lock is the next generation wireless lock from Schlage, designed specifically for multifamily properties. It delivers innovation, intelligence and reliability for a variety of lock applications (mortice, tubular and exit device). The XE360 ecosystem broadened with more than seven integrations, including Zentra. Schlage Arrive™ Smart WiFi Deadbolt, Schlage’s first push-button keypad deadbolt equipped with built-in WiFi, integrating with existing smart home technology. Schlage, in collaboration with Airbnb, was the first to launch the “airkey” integration, connecting Schlage smart locks and Airbnb accounts for easy guest check-ins. SimonsVoss FortLox, a battery-less electronic cylinder, offering customers the high-quality and ease of use without the need for a battery. | | |

| | | | | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| Products and Services | | | | | | Brands | | | | | | Year | | | | | | Innovation | | |

| Locks, locksets, portable locks, and key systems | | | | | | Bricard, Schlage | | | | | | 2024/2025 | | | | | | Bricard Bi-Pass key is equipped with an integrated RFID tag, enabling seamless operation of both mechanical and electronic access control devices. Schlage indication series includes various security devices designed for public buildings and facilities. The security indicators provide at-a-glance verification of the door’s status (LOCKED / UNLOCKED) from inside a room. Schlage Performance Series are medium-price-point mortise, cylindrical, and tubular locks built to balance style, security, and simplicity for commercial real estate and multifamily projects. Schlage Advanced Rekey™ is a rekeying solution for key management to rekey locks without removing them from the door. | | |

| Services and software | | | | | | Interflex, Overtur, SimonsVoss | | | | | | 2024/2025 | | | | | | Interflex Software System IF-6040 enhancements enable remote firmware updates for its IF-8xx series readers via the ITS-phyCORE controller, including improved visitor management. Overtur for Revit 5.1 is the ultimate tool for door hardware coordination, with faster exports, improved workflows and non-modal functionality. Overtur Key System Management, a cloud-based subscription solution, offers authorized users a simpler way to view, manage, track and update a building’s key system, regardless of complexity. SimonsVoss AXM Plus Software, first on-premise software variant with an optional cloud connection, to give customers the opportunity to deploy mobile credentials in a virtual networked environment. | | |

| | | | | | | | | | | | | | | | | | | | | |

Manufacturing and Export Services Industry ("IMMEX") program.

Our research and development ("R&D") efforts focus on advancing innovative products and solutions designed to drive growth and enhance competitiveness.

Key areas of emphasis include the development of new product platforms as well as initiatives aimed at improving product cost efficiency, quality, safety and sustainability.

Regional teams apply their expertise in local standards and configurations to adapt products to specific market requirements, thereby enhancing customer value.

Employee-led resource and affinity groups provide opportunities for a variety of members of our workforce.

These include:

| | | |

| --- | --- | --- |

| Allegion Principal Products and Services | | |

| Door controls, door control systems, and exit devices | | |

| Doors, glass and door systems, and accessories | | |

| Electronic security products and access control systems, including time, attendance and workforce productivity | | |

| Locks, locksets, portable locks, and key systems | | |

| Services and software | | |

We operate in and report financial results for two segments: Allegion Americas and Allegion International, the latter of which provides security and access control security products, services and solutions primarily throughout Europe, Asia and Oceania.

We sell our products and solutions under the following brands:



| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| Doors, glass and door systems, and accessories | | | | | | TGP, Unicel | | | | | | 2023/2024 | | | | | | Smoke-rated partition featuring doors, sidelites/transoms and standalone windows suitable for enclosed elevator lobbies in multifamily buildings. It is comprised of glass, frames and hardware and is the first system fully tested to UL 1784 (TGP SmokeSafe™ Window & Door System). North America’s first fire-rated full-lite door system certified to forced-entry standards (TGP TGProtect™ FR System). UL Certification of American Architectural Manufacturers Association (AAMA) 501.8 human impact resistant curtain wall using durable SentryGlas Plus (SGP) laminated glass (Unicel). | | | | | | | | | | | | | | | | | | | | |

| Electronic security products and access control systems, including time, attendance, and workforce productivity | | | | | | Gainsborough,Schlage, SimonsVoss, | | | | | | 2023/2024 | | | | | | Schlage XE360 series electronic lock is the next generation wireless lock from Schlage, designed specifically for multifamily properties. It delivers innovation, intelligence and reliability wrapped in a modern, sleek design for a variety of lock applications (mortice, tubular and exit device). Schlage, in collaboration with Airbnb, was the first to launch the “airkey” integration, connecting Schlage smart locks and Airbnb accounts for easy guest check-ins. Schlage Encode Smart WiFi Lever is for use in doors without a deadbolt; connects to home WiFi and pairs with the Schlage app. Gainsborough Freestyle Trilock now has built-in Wi-Fi, no longer needing a separate bridge to communicate to the router. The latest version of this residential product includes Matter over Thread - the first smart lock in Australia to feature this technology. Narrow profile smart lock for Australia and New Zealand for use on aluminum and timber doors, utilizing the Schlage Breeze app (Schlage Artus). Next-generation smart entry door lock for the New Zealand market, operating on the Schlage Breeze app and offering a retrofit solution to Schlage S-6000 and competitor products (Schlage Resolute). SimonsVoss AX2Go, a BLE-based mobile app for iOS and Android, supporting the same user experience, regardless the OS of the smartphone. Users can place unlocked smartphone on the lock and the app will send the needed data in the background. SimonsVoss PinCode keypad AX, a BLE-based pincode keypad suitable for communication with SimonsVoss based AX products, with a range up to 1.5 meters. | | | | | | | | | | | | | | | | | | | | |

| Locks, locksets, portable locks, and key systems | | | | | | Bricard, Legge | | | | | | 2023/2024 | | | | | | Bricard Evidence handle range for commercial and residential markets, with an exclusive and unique rose fixation and adjustment design, functionality and finishes. Bricard Bi-Pass key is equipped with an integrated RFID tag, enabling seamless operation of both mechanical and electronic access control devices. Next generation of multi-function mortice locks, 991 Multi-Function Mortice Lock Series (Legge), allows easy conversions and anti-lockout function. | | | | | | | | | | | | | | | | | | | | |

| Services and software | | | | | | SimonsVoss, Zentra | | | | | | 2023/2024 | | | | | | SimonsVoss AXM Plus Software, first on-premise software variant with an optional cloud con nection, to give customers the opportunity to deploy mobile credentials in a virtual networked environment. Multifamily access control solution providing a turnkey, simple, secure and smart offering of software and integrated hardware covering all access needs for the building (Zentra). | | | | | | | | | | | | | | | | | | | | |

We own 16 of these facilities and lease the others.

Facilities

We operate through a broad network of sales offices, engineering centers, 34 principal production and assembly facilities and several distribution centers throughout the world.

Our active properties represent approximately 7.7 million square feet, of which approximately 44% is leased.

The following table shows the location of our principal production and assembly facilities under the business segments in which they operate:

| | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| Production and Assembly Facilities | | | | | | | | |

| Allegion Americas | | | | | | Allegion International | | |

| Blue Ash, Ohio | | | | | | Auckland, New Zealand | | |

| Chino, California | | | | | | Blackburn, Australia | | |

| Ensenada, Mexico | | | | | | Brooklyn, Australia | | |

| Everett, Washington | | | | | | Clamecy, France | | |

| Farmington, Connecticut | | | | | | Durchhausen, Germany | | |

| Greenfield, Indiana (2) | | | | | | Faenza, Italy | | |

| Indianapolis, Indiana | | | | | | Feuquieres, France | | |

| Irving, Texas | | | | | | Monsampolo, Italy | | |

| Jurong, Singapore | | | | | | Osterfeld, Germany | | |

| Longueuil, Canada | | | | | | Renchen, Germany | | |

| McKenzie, Tennessee | | | | | | Valencia, Spain | | |

| Mississauga, Canada | | | | | | Veenendaal, Netherlands | | |

| Perrysburg, Ohio | | | | | | Zawiercie, Poland | | |

For the fiscal year ended December 31, [removed: 2024][added: 2025]

[removed: ][added: ]

| [removed: Dublin] [added: Dublin 7] | | | | | | | | |

The aggregate market value of our ordinary shares held by non-affiliates on June 30, [removed: 2024] [added: 2025] was approximately [removed: $10.3] [added: $12.3] billion based on the closing price of such shares on the New York Stock Exchange on that date.

The number of ordinary shares outstanding of Allegion plc as of February [removed: 13, 2025] [added: 12, 2026] was [removed: 86,290,351.][added: 86,145,484.]

Portions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission (the "SEC") within 120 days of the close of the registrant’s fiscal year in connection with the registrant’s [removed: 2025] [added: 2026] Annual General Meeting of Shareholders (the "Proxy Statement") are incorporated by reference into Part III of this Form 10-K as described herein.

| Part I | | | Item 1. | | | [removed: [Business](#i7862808e63ec4b6aaecfc8883981303b_16)] [added: [Business](#i8c843f2431704beb8927ccbe87bd91d0_16)] | | | [removed: [4](#i7862808e63ec4b6aaecfc8883981303b_16)] [added: [4](#i8c843f2431704beb8927ccbe87bd91d0_16)] | | |

| | | | Item 1A. | | | [Risk [removed: Factors](#i7862808e63ec4b6aaecfc8883981303b_19)] [added: Factors](#i8c843f2431704beb8927ccbe87bd91d0_19)] | | | [removed: [15](#i7862808e63ec4b6aaecfc8883981303b_19)] [added: [12](#i8c843f2431704beb8927ccbe87bd91d0_19)] | | |

| | | | Item 1B. | | | [Unresolved Staff [removed: Comments](#i7862808e63ec4b6aaecfc8883981303b_22)] [added: Comments](#i8c843f2431704beb8927ccbe87bd91d0_22)] | | | [removed: [25](#i7862808e63ec4b6aaecfc8883981303b_22)] [added: [23](#i8c843f2431704beb8927ccbe87bd91d0_22)] | | |

| | | | Item 1C. | | | [removed: [Cybersecurity](#i7862808e63ec4b6aaecfc8883981303b_25)] [added: [Cybersecurity](#i8c843f2431704beb8927ccbe87bd91d0_25)] | | | [removed: [26](#i7862808e63ec4b6aaecfc8883981303b_25)] [added: [23](#i8c843f2431704beb8927ccbe87bd91d0_25)] | | |

| | | | Item 2. | | | [removed: [Properties](#i7862808e63ec4b6aaecfc8883981303b_28)] [added: [Properties](#i8c843f2431704beb8927ccbe87bd91d0_28)] | | | [removed: [27](#i7862808e63ec4b6aaecfc8883981303b_28)] [added: [25](#i8c843f2431704beb8927ccbe87bd91d0_28)] | | |

| | | | Item 3. | | | [Legal [removed: Proceedings](#i7862808e63ec4b6aaecfc8883981303b_31)] [added: Proceedings](#i8c843f2431704beb8927ccbe87bd91d0_31)] | | | [removed: [27](#i7862808e63ec4b6aaecfc8883981303b_31)] [added: [25](#i8c843f2431704beb8927ccbe87bd91d0_31)] | | |

| | | | Item 4. | | | [Mine Safety [removed: Disclosures](#i7862808e63ec4b6aaecfc8883981303b_34)] [added: Disclosures](#i8c843f2431704beb8927ccbe87bd91d0_34)] | | | [removed: [27](#i7862808e63ec4b6aaecfc8883981303b_34)] [added: [25](#i8c843f2431704beb8927ccbe87bd91d0_34)] | | |

| Part II | | | Item 5. | | | [Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity [removed: Securities](#i7862808e63ec4b6aaecfc8883981303b_40)] [added: Securities](#i8c843f2431704beb8927ccbe87bd91d0_40)] | | | [removed: [28](#i7862808e63ec4b6aaecfc8883981303b_40)] [added: [26](#i8c843f2431704beb8927ccbe87bd91d0_40)] | | |

| | | | Item 6. | | | [removed: [\[Reserved\]](#i7862808e63ec4b6aaecfc8883981303b_43)] [added: [\[Reserved\]](#i8c843f2431704beb8927ccbe87bd91d0_43)] | | | [removed: [29](#i7862808e63ec4b6aaecfc8883981303b_43)] [added: [27](#i8c843f2431704beb8927ccbe87bd91d0_43)] | | |

| | | | Item 7. | | | [Management’s Discussion and Analysis of Financial Condition and Results of [removed: Operations](#i7862808e63ec4b6aaecfc8883981303b_46)] [added: Operations](#i8c843f2431704beb8927ccbe87bd91d0_46)] | | | [removed: [30](#i7862808e63ec4b6aaecfc8883981303b_46)] [added: [28](#i8c843f2431704beb8927ccbe87bd91d0_46)] | | |

| | | | Item 7A. | | | [Quantitative and Qualitative Disclosures About Market [removed: Risk](#i7862808e63ec4b6aaecfc8883981303b_61)] [added: Risk](#i8c843f2431704beb8927ccbe87bd91d0_61)] | | | [removed: [42](#i7862808e63ec4b6aaecfc8883981303b_61)] [added: [38](#i8c843f2431704beb8927ccbe87bd91d0_61)] | | |

| | | | Item 8. | | | [Financial Statements and Supplementary [removed: Data](#i7862808e63ec4b6aaecfc8883981303b_64)] [added: Data](#i8c843f2431704beb8927ccbe87bd91d0_64)] | | | [removed: [43](#i7862808e63ec4b6aaecfc8883981303b_64)] [added: [40](#i8c843f2431704beb8927ccbe87bd91d0_64)] | | |

| | | | Item 9. | | | [Changes in and Disagreements with Accountants on Accounting and Financial [removed: Disclosure](#i7862808e63ec4b6aaecfc8883981303b_67)] [added: Disclosure](#i8c843f2431704beb8927ccbe87bd91d0_67)] | | | [removed: [43](#i7862808e63ec4b6aaecfc8883981303b_67)] [added: [40](#i8c843f2431704beb8927ccbe87bd91d0_67)] | | |

| | | | Item 9A. | | | [Controls and [removed: Procedures](#i7862808e63ec4b6aaecfc8883981303b_70)] [added: Procedures](#i8c843f2431704beb8927ccbe87bd91d0_70)] | | | [removed: [43](#i7862808e63ec4b6aaecfc8883981303b_70)] [added: [40](#i8c843f2431704beb8927ccbe87bd91d0_70)] | | |

| | | | Item 9B. | | | [Other [removed: Information](#i7862808e63ec4b6aaecfc8883981303b_73)] [added: Information](#i8c843f2431704beb8927ccbe87bd91d0_73)] | | | [removed: [44](#i7862808e63ec4b6aaecfc8883981303b_73)] [added: [41](#i8c843f2431704beb8927ccbe87bd91d0_73)] | | |

| | | | Item 9C. | | | [Disclosure Regarding Foreign Jurisdictions that Prevent [removed: Inspections](#i7862808e63ec4b6aaecfc8883981303b_76)] [added: Inspections](#i8c843f2431704beb8927ccbe87bd91d0_76)] | | | [removed: [44](#i7862808e63ec4b6aaecfc8883981303b_76)] [added: [41](#i8c843f2431704beb8927ccbe87bd91d0_76)] | | |

| Part III | | | Item 10. | | | [Directors, Executive Officers and Corporate [removed: Governance](#i7862808e63ec4b6aaecfc8883981303b_82)] [added: Governance](#i8c843f2431704beb8927ccbe87bd91d0_82)] | | | [removed: [45](#i7862808e63ec4b6aaecfc8883981303b_82)] [added: [42](#i8c843f2431704beb8927ccbe87bd91d0_82)] | | |

| | | | Item 11. | | | [Executive [removed: Compensation](#i7862808e63ec4b6aaecfc8883981303b_85)] [added: Compensation](#i8c843f2431704beb8927ccbe87bd91d0_85)] | | | [removed: [45](#i7862808e63ec4b6aaecfc8883981303b_85)] [added: [42](#i8c843f2431704beb8927ccbe87bd91d0_85)] | | |

| | | | Item 12. | | | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder [removed: Matters](#i7862808e63ec4b6aaecfc8883981303b_88)] [added: Matters](#i8c843f2431704beb8927ccbe87bd91d0_88)] | | | [removed: [45](#i7862808e63ec4b6aaecfc8883981303b_88)] [added: [42](#i8c843f2431704beb8927ccbe87bd91d0_88)] | | |

| | | | Item 13. | | | [Certain Relationships and Related Transactions, and Director [removed: Independence](#i7862808e63ec4b6aaecfc8883981303b_91)] [added: Independence](#i8c843f2431704beb8927ccbe87bd91d0_91)] | | | [removed: [45](#i7862808e63ec4b6aaecfc8883981303b_91)] [added: [42](#i8c843f2431704beb8927ccbe87bd91d0_91)] | | |

| | | | Item 14. | | | [Principal Accountant Fees and [removed: Services](#i7862808e63ec4b6aaecfc8883981303b_94)] [added: Services](#i8c843f2431704beb8927ccbe87bd91d0_94)] | | | [removed: [45](#i7862808e63ec4b6aaecfc8883981303b_94)] [added: [42](#i8c843f2431704beb8927ccbe87bd91d0_94)] | | |

| Part IV | | | Item 15. | | | [Exhibits and Financial Statement [removed: Schedules](#i7862808e63ec4b6aaecfc8883981303b_100)] [added: Schedules](#i8c843f2431704beb8927ccbe87bd91d0_100)] | | | [removed: [46](#i7862808e63ec4b6aaecfc8883981303b_100)] [added: [43](#i8c843f2431704beb8927ccbe87bd91d0_100)] | | |

| | | | Item 16. | | | [Form 10-K [removed: Summary](#i7862808e63ec4b6aaecfc8883981303b_106)] [added: Summary](#i8c843f2431704beb8927ccbe87bd91d0_106)] | | | [removed: [50](#i7862808e63ec4b6aaecfc8883981303b_106)] [added: [47](#i8c843f2431704beb8927ccbe87bd91d0_106)] | | |

| | | | [removed: [Signatures](#i7862808e63ec4b6aaecfc8883981303b_109)] [added: [Signatures](#i8c843f2431704beb8927ccbe87bd91d0_109)] | | | | | | [removed: [50](#i7862808e63ec4b6aaecfc8883981303b_109)] [added: [47](#i8c843f2431704beb8927ccbe87bd91d0_109)] | | |

These forward-looking statements generally are identified by the words "believe," [removed: "project,"] [added: "aim," "projected,"] "expect," "anticipate," "estimate," "forecast," "outlook," "intend," [added: "scheduled," "targets,"] "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements.

| Unit No. 233 | | | | | | | | |

| The Capel Building | | | | | | | | |

| Mary's Abbey | | | | | | | | |

| Ireland | | | | | | D07 X324 | | |

+(353) (1) 6833399

For the Fiscal Year Ended December 31, 2025

| Block D | | | | | | | | |

| Iveagh Court | | | | | | | | |

| Harcourt Road | | | | | | | | |

| Ireland | | | | | | D02 VH9 | | |

+(353) (1) 2546200

Allegion plc recognizes the significance of developing, [removed: implementing,] [added: implementing] and maintaining cybersecurity measures to safeguard our information systems and products and protect the confidentiality, [removed: integrity,] [added: integrity] and availability of our data.

[removed: Further, we have] [added: We maintain] an employee security awareness program [removed: in place] and a security training program for technical personnel that [removed: provides] [added: provide] mandatory and [removed: on-demand] [added: on‑demand] training.

Our cybersecurity programs generally align with the NIST Cybersecurity [removed: Framework,] [added: Framework 2.0,] and [removed: third party] [added: third-party] audits on portions of our cybersecurity program or processes apply the NIST Cybersecurity Framework [added: 2.0] controls.

These risks are further described in the risk factors within Item 1A, particularly under the headings “We may be subject to risks relating to [added: systems failures or disruptions to] our information technology and operational technology [removed: systems,”] [added: systems;”] “We currently rely on third-party service providers for many of the critical elements of our global information and operational technology infrastructure, and their failure to provide effective support for such infrastructure could increase our cybersecurity risk or otherwise negatively impact our business and financial [removed: results,”] [added: results;”] and “Disruptions or breaches of our information systems could adversely affect us.”

We have not encountered any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, that have materially affected or are reasonably likely to materially affect us, including our business strategy, results of [removed: operations,] [added: operations] or financial condition.

The Board receives updates from the CISO and management at least quarterly at board meetings, which updates cover the Company's cybersecurity strategy, current cybersecurity risk assessment, key risk areas, current cyber [removed: trends,] [added: trends] and any significant cyber incidents that have occurred or are reasonably likely to occur.

The CISO oversees our governance programs, tests our compliance with standards, remediates known [removed: risks,] [added: risks] and leads our comprehensive employee security awareness program.

The CISO and the cybersecurity team are continually informed about the latest developments in cybersecurity, including potential threats and innovative risk management techniques, which is an important component in designing programs to prevent, detect, [removed: mitigate,] [added: mitigate] and remediate cybersecurity incidents.

All employees are required to comply with our information security policies and are responsible for helping protect our information security, including promptly reporting suspected security events through established channels.

As part of these programs, every employee is expected to report any suspected security event immediately upon discovery.

Employees may report incidents through established channels such as the security operations mailbox, our ticketing portal or service desk, or by contacting local IT support.

The adoption of AI by threat actors has resulted in more sophisticated and scalable attacks.

These may include AI‑enabled social engineering, deepfake impersonation, automated vulnerability discovery and exploitation of AI models themselves.

The use of AI by our stakeholders, including vendors and customers, may also introduce new vulnerabilities into our ecosystem.

This includes monitoring emerging AI-driven threats and adapting our detection, prevention and response capabilities to address them.

We operate through a broad network of [removed: sales offices, engineering centers, 34 principal] production and assembly [removed: facilities and several] [added: facilities,] distribution [removed: centers throughout the world.][added: centers, sales offices and engineering centers, across North America, Europe, Asia and Oceania.]

Our active properties represent [removed: about] [added: approximately] 7.7 million square feet, of which approximately [removed: 44%] [added: 45%] is leased.

We own 16 of our [added: 37] production and assembly facilities, with the [removed: remainder] [added: remaining 21] under long-term lease arrangements.

We believe [removed: that] our plants [removed: have been] [added: are] well maintained, [removed: are] generally in good condition and [removed: are] suitable for the conduct of our business.

Our production and assembly facilities for the Allegion Americas business segment are primarily located in the United States, Mexico and Canada, and for the Allegion International business segment primarily in Australia, France, Germany, Italy, the Netherlands, New Zealand, Poland, Spain and the United Kingdom.

As of February [removed: 13, 2025,] [added: 12, 2026,] the number of record holders of ordinary shares was [removed: 1,750.][added: 1,635.]

Our Board of Directors declared dividends of [removed: $0.48] [added: $0.51] per ordinary share on February [removed: 7, 2024,] [added: 6, 2025,] April [removed: 11, 2024,] [added: 10, 2025,] September [removed: 5, 2024] [added: 4, 2025] and December [removed: 5, 2024.][added: 3, 2025.]

On February [removed: 6, 2025,] [added: 4, 2026,] our Board of Directors declared a dividend of [removed: $0.51] [added: $0.55] per ordinary share payable on March 31, [removed: 2025,] [added: 2026,] to shareholders of record on March [removed: 14, 2025.][added: 13, 2026.]

We paid a total of [removed: $167.0] [added: $175.3] million in cash for dividends to ordinary shareholders during the year ended December 31, [removed: 2024.][added: 2025.]

As of December 31, [removed: 2024,] [added: 2025,] we had distributable reserves of [removed: $3.8] [added: $4.1] billion.

The annual changes for the five-year period shown below are based on the assumption that $100 had been invested in Allegion plc ordinary shares, the Standard & Poor’s 500 Stock Index ("S&P 500") and the Standard & Poor's 400 Capital Goods Index ("S&P 400 Capital Goods") on December 31, [removed: 2019,] [added: 2020,] and that all quarterly dividends were reinvested.

The total cumulative dollar returns shown on the graph represent the value that such investments would have had on December 31, [removed: 2024.][added: 2025.]

[removed: ][added: ]

| | | | December 31, [removed: 2019 | | | December 31,] 2020 | | | December 31, 2021 | | | December 31, 2022 | | | December 31, 2023 | | | December 31, 2024 | | | [added: December 31, 2025 | | |]

| October 1 - October 31 | | | | | | — | | | | | | $ | — | | | | | — | | | | | | $ | 160,019 | |

| November 1 - November 30 | | | | | | — | | | | | | — | | | | | | — | | | | | | 160,019 | | |

| December 1 - December 31 | | | | | | — | | | | | | — | | | | | | — | | | | | | 160,019 | | |

| Total | | | | | | — | | | | | | $ | — | | | | | — | | | | | | $ | 160,019 | |

| Allegion plc | | | 100.00 | | | 115.05 | | | 92.90 | | | 113.63 | | | 118.95 | | | 146.95 | | |

| S&P 500 | | | 100.00 | | | 128.71 | | | 105.40 | | | 133.10 | | | 166.40 | | | 196.16 | | |

| S&P 400 Capital Goods | | | 100.00 | | | 127.67 | | | 114.87 | | | 158.19 | | | 182.40 | | | 219.77 | | |

| October 1 - October 31 | | | | | | 48 | | | | | | $ | 140.64 | | | | | 48 | | | | | | $ | 333,301 | |

| November 1 - November 30 | | | | | | 307 | | | | | | 140.83 | | | | | | 307 | | | | | | 290,024 | | |

| December 1 - December 31 | | | | | | 361 | | | | | | 138.56 | | | | | | 361 | | | | | | 240,024 | | |

| Total | | | | | | 716 | | | | | | $ | 139.66 | | | | | 716 | | | | | | $ | 240,024 | |

| Allegion plc | | | 100.00 | | | 94.61 | | | 108.85 | | | 87.90 | | | 107.51 | | | 112.54 | | |

| S&P 500 | | | 100.00 | | | 118.40 | | | 152.39 | | | 124.79 | | | 157.59 | | | 197.02 | | |

| S&P 400 Capital Goods | | | 100.00 | | | 119.84 | | | 153.00 | | | 137.67 | | | 189.57 | | | 218.59 | | |

(a)The following Consolidated Financial Statements and Financial Statement Schedule and the report thereon of PricewaterhouseCoopers LLP dated February [removed: 18, 2025,] [added: 17, 2026,] are presented following Item 16 of this Annual Report on Form 10-K.

Consolidated Statements of Comprehensive Income for the years ended December 31, [removed: 2024, 2023] [added: 2025, 2024] and [removed: 2022][added: 2023]

Consolidated Balance Sheets at December 31, [removed: 2024] [added: 2025] and [removed: 2023][added: 2024]

For the years ended December 31, [removed: 2024, 2023] [added: 2025, 2024] and [removed: 2022:][added: 2023:]

Schedule II – Valuation and Qualifying Accounts for the years ended December 31, [removed: 2024, 2023] [added: 2025, 2024] and [removed: 2022][added: 2023]

Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded as of December 31, [removed: 2024,] [added: 2025,] that the Company's disclosure controls and procedures were effective in ensuring that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act has been recorded, processed, summarized and reported, within the time periods specified in the Commission's rules and forms, and that such information has been accumulated and communicated to the Company's management including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

Management assessed the effectiveness of our internal control over financial reporting as of December 31, [removed: 2024.][added: 2025.]

We concluded that our internal control over financial reporting was effective as of December 31, [removed: 2024.][added: 2025.]

There were no changes in the Company's internal control over financial reporting that occurred during the quarter ended December 31, [removed: 2024] [added: 2025] that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

During the three months ended December 31, [removed: 2024,] [added: 2025,] no director or officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-rule 10b5-1 trading arrangement," as each term is defined in item 408(a) of Regulation S-K.

The information required by this item is incorporated herein by reference to the information contained under the heading [removed: ""Proposal 3.][added: "Proposal 3".]

Approval of Appointment of Independent Registered Public Accounting Firm and Authorization to Set Independent Registered Public Accounting Firm’s Remuneration for Fiscal [removed: 2025–Fees] [added: 2026–Fees] of the Independent Registered Public Accounting Firm" in the Proxy Statement.

| [4.8](https://www.sec.gov/Archives/edgar/data/1579241/000119312522178761/d330714dex42.htm) | | | | | | Form of Global Note representing the 5.411% Senior Notes due 2032. | | | | | | Incorporated by reference to Exhibit 4.3 of the Company's Form 8-K filed June 22,2022 [removed: included] [added: (included] in Exhibit 4.2) (File No. 001-35971). | | |

| [removed: [4.9](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001579241/000119312524149166/d834567d8k.htm)] [added: [4.9](https://www.sec.gov/Archives/edgar/data/1579241/000119312524149166/d834567dex41.htm)] | | | | | | Indenture, dated as of May 29, 2024, among Allegion US Holding Company Inc., Allegion plc, and U.S, Bank Trust Company, National Association. | | | | | | Incorporated by reference to Exhibit 4.1 of the Company’s Form 8-K filed May 29, 2024 (File No. 001-35971). | | |

| [removed: [4.1](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001579241/000119312524149166/d834567d8k.htm)[0](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001579241/000119312524149166/d834567d8k.htm)] [added: [4.10](https://www.sec.gov/Archives/edgar/data/1579241/000119312524149166/d834567dex42.htm)] | | | | | | First Supplemental Indenture, dated as of May 29, 2024, among Allegion plc, Allegion US Holding Company Inc. and U.S, Bank Trust Company, National Association. | | | | | | Incorporated by reference to Exhibit 4.2 of the Company’s Form 8-K filed May 29, 2024 (File No. 001-35971). | | |

| [removed: [4.11](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001579241/000119312524149166/d834567d8k.htm)] [added: [4.11](https://www.sec.gov/Archives/edgar/data/1579241/000119312524149166/d834567dex42.htm)] | | | | | | Form of Global Note representing the 5.600% Senior Notes due 2034. | | | | | | Incorporated by reference to Exhibit 4.3 of the Company’s Form 8-K filed May 29, 2024 [added: (included in Exhibit 4.2)] (File No. 001-35971). | | |

| [removed: [10.3](https://www.sec.gov/Archives/edgar/data/1579241/000119312521333834/d187030dex101.htm)] [added: [10.3](https://www.sec.gov/Archives/edgar/data/1579241/000119312524142866/d808168dex101.htm)] | | | | | | Amended and Restated Credit Agreement, dated as of May 20, 2024. | | | | | | Incorporated by reference to Exhibit 10.1 of the Company's Form 8-K filed May 20, 2024 (File No. 001-35971). | | |

| [removed: [10.15](https://www.sec.gov/Archives/edgar/data/1579241/000157924117000009/exhibit10150jeffreybraunof.htm)] [added: [10.15](https://www.sec.gov/Archives/edgar/data/1579241/000157924123000006/exhibit1039-davidilardioff.htm)] | | | | | | [removed: Robert C. Martens] [added: David S. Ilardi] Offer Letter, dated [removed: December 9, 2019.] [added: February 14, 2022.] * | | | | | | Incorporated by reference to Exhibit [removed: 10.15] [added: 10.39] of the Company's Form [removed: 10-Q] [added: 10-K] filed with the SEC on [removed: April 25, 2024] [added: February 15, 2022] (File No. 001-35971). | | |

| [removed: [10.16](https://www.sec.gov/Archives/edgar/data/1579241/000157924113000015/a1021formofallegionplcdeed.htm)] [added: [10.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924113000015/a1021formofallegionplcdeed.htm)[7](https://www.sec.gov/Archives/edgar/data/1579241/000157924113000015/a1021formofallegionplcdeed.htm)] | | | | | | Form of Allegion plc Deed Poll Indemnity. | | | | | | Incorporated by reference to Exhibit 10.21 of the Company’s Registration Statement on Form 10 filed with the SEC on June 17, 2013, as amended (File No. 001-35971). | | |

| [removed: [10.17](https://www.sec.gov/Archives/edgar/data/1579241/000157924113000015/a1022formofallegionusholdi.htm)] [added: [10.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924113000015/a1022formofallegionusholdi.htm)[8](https://www.sec.gov/Archives/edgar/data/1579241/000157924113000015/a1022formofallegionusholdi.htm)] | | | | | | Form of Allegion US Holding Company, Inc. Deed Poll Indemnity. | | | | | | Incorporated by reference to Exhibit 10.22 of the Company’s Registration Statement on Form 10 filed with the SEC on June 17, 2013, as amended (File No. 001-35971). | | |

| [removed: [10.18](https://www.sec.gov/Archives/edgar/data/1579241/000157924113000015/a1023formofallegionirishho.htm)] [added: [10.](https://www.sec.gov/Archives/edgar/data/1579241/000157924113000015/a1023formofallegionirishho.htm)[19](https://www.sec.gov/Archives/edgar/data/1579241/000157924113000015/a1023formofallegionirishho.htm)] | | | | | | Form of Allegion Irish Holding Company Limited Deed Poll Indemnity. | | | | | | Incorporated by reference to Exhibit 10.23 of the Company’s Registration Statement on Form 10 filed with the SEC on June 17, 2013, as amended (File No. 001-35971). | | |

| [removed: [10.19](https://www.sec.gov/Archives/edgar/data/1579241/000157924114000007/exhibit101annualincentivep.htm)] [added: [10.](https://www.sec.gov/Archives/edgar/data/1579241/000157924114000007/exhibit101annualincentivep.htm)[2](https://www.sec.gov/Archives/edgar/data/1579241/000157924114000007/exhibit101annualincentivep.htm)[0](https://www.sec.gov/Archives/edgar/data/1579241/000157924114000007/exhibit101annualincentivep.htm)] | | | | | | Annual Incentive Plan. * | | | | | | Incorporated by reference to Exhibit 10.1 of the Company's Form 10-K filed with the SEC on March 10, 2014 (File No. 001-35971). | | |

| [removed: [10.20](https://www.sec.gov/Archives/edgar/data/1579241/000157924114000007/exhibit102changeinctrlseve.htm)] [added: [10.](https://www.sec.gov/Archives/edgar/data/1579241/000157924114000007/exhibit102changeinctrlseve.htm)[2](https://www.sec.gov/Archives/edgar/data/1579241/000157924114000007/exhibit102changeinctrlseve.htm)[1](https://www.sec.gov/Archives/edgar/data/1579241/000157924114000007/exhibit102changeinctrlseve.htm)] | | | | | | Change in Control Severance Plan. * | | | | | | Incorporated by reference to Exhibit 10.2 of the Company's Form 10-K filed with the SEC on March 10, 2014 (File No. 001-35971). | | |

| [removed: [10.21](https://www.sec.gov/ix?doc=/Archives/edgar/data/1579241/000157924124000006/alle-20231231.htm)] [added: [10.](https://www.sec.gov/Archives/edgar/data/1579241/000157924124000006/exhibit1021-globalrsuaward.htm)[2](https://www.sec.gov/Archives/edgar/data/1579241/000157924124000006/exhibit1021-globalrsuaward.htm)[2](https://www.sec.gov/Archives/edgar/data/1579241/000157924124000006/exhibit1021-globalrsuaward.htm)] | | | | | | Form of Global Restricted Stock Unit Award Agreement. * | | | | | | Incorporated by reference to Exhibit 10.21 of the Company's Form 10-K filed with the SEC on February 20, 2024 (File No. 001-35971). | | |

| [removed: [10.22](https://www.sec.gov/ix?doc=/Archives/edgar/data/1579241/000157924124000006/alle-20231231.htm)] [added: [10.](https://www.sec.gov/Archives/edgar/data/1579241/000157924124000006/exhibit1022-globalstockopt.htm)[23](https://www.sec.gov/Archives/edgar/data/1579241/000157924124000006/exhibit1022-globalstockopt.htm)] | | | | | | Form of Global Stock Option Award Agreement. * | | | | | | Incorporated by reference to Exhibit [removed: 10.21] [added: 10.22] of the Company's Form 10-K filed with the SEC on February 20, 2024 (File No. 001-35971). | | |

| [removed: [10.23](https://www.sec.gov/ix?doc=/Archives/edgar/data/1579241/000157924124000006/alle-20231231.htm)] [added: [10.](https://www.sec.gov/Archives/edgar/data/1579241/000157924124000006/exhibit1023-globalpsuagree.htm)[24](https://www.sec.gov/Archives/edgar/data/1579241/000157924124000006/exhibit1023-globalpsuagree.htm)] | | | | | | Form of Global Performance Stock Unit Award Agreement. * | | | | | | Incorporated by reference to Exhibit [removed: 10.21] [added: 10.23] of the Company's Form 10-K filed with the SEC on February 20, 2024 (File No. 001-35971). | | |

| [removed: [10.24](https://www.sec.gov/Archives/edgar/data/1579241/000157924123000039/exhibit102-formofnonxemplo.htm)] [added: [10.](https://www.sec.gov/Archives/edgar/data/1579241/000157924123000039/exhibit102-formofnonxemplo.htm)[2](https://www.sec.gov/Archives/edgar/data/1579241/000157924123000039/exhibit102-formofnonxemplo.htm)[5](https://www.sec.gov/Archives/edgar/data/1579241/000157924123000039/exhibit102-formofnonxemplo.htm)] | | | | | | Form of Non-Employee Director Restricted Stock Unit Award Agreement. * | | | | | | Incorporated by reference to Exhibit 10.2 of the Company's Form 10-Q filed with the SEC on July 26, 2023 (File No. 001-35971). | | |

| [removed: [10.25](https://www.sec.gov/Archives/edgar/data/1579241/000157924115000033/exhibit101simonsvosssharep.htm)] [added: [10.](https://www.sec.gov/Archives/edgar/data/1579241/000119312522114077/d348556dex101.htm)[26](https://www.sec.gov/Archives/edgar/data/1579241/000119312522114077/d348556dex101.htm)] | | | | | | [removed: Share Purchase Agreement] [added: Transaction Agreement,] dated [removed: June 26, 2015 between SimonsVoss Luxco S.à r.l., SimonsVoss Co-Invest GmbH & Co. KG, Mr Frank Rövekamp] [added: as of April 22, 2022, by] and [added: between] Allegion [removed: Luxembourg] [added: US] Holding [added: Company Inc. Stanley Black] & [removed: Financing S.à r.l.] [added: Decker, Inc., Stanley Black & Decker Canada Corporation, various entities thereto and Stanley Access Technologies LLC.] | | | | | | Incorporated by reference to Exhibit 10.1 of the [removed: Company's] [added: Company’s] Form [removed: 10-Q] [added: 8-K] filed with the SEC on [removed: July 30, 2015] [added: April 22, 2022] (File No. 001-35971). | | |

| [removed: [10.26](https://www.sec.gov/Archives/edgar/data/1579241/000157924122000013/exhibit101-mwagnesofferlet.htm)] [added: [10.13](https://www.sec.gov/Archives/edgar/data/1579241/000157924122000013/exhibit101-mwagnesofferlet.htm)] | | | | | | Michael J. Wagnes Offer Letter, dated February 14, 2022. * | | | | | | Incorporated by reference to Exhibit 10.1 of the Company’s Form 8-K filed with the SEC on February 15, 2022 (File No. 001-35971). | | |

| [removed: [10.27](https://www.sec.gov/Archives/edgar/data/1579241/000119312522162927/d365596dex101.htm)] [added: [10.12](https://www.sec.gov/Archives/edgar/data/1579241/000119312522162927/d365596dex101.htm)] | | | | | | John H. Stone Offer Letter, dated May 24, 2022. * | | | | | | Incorporated by reference to Exhibit 10.1 of the Company’s Form 8-K filed with the SEC on May 31, 2022 (File No. 001-35971). | | |

| [removed: [10.28](https://www.sec.gov/Archives/edgar/data/1579241/000157924123000006/exhibit1039-davidilardioff.htm)] [added: [19.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924125000008/exhibit191-insidertradingp.htm)] | | | | | | [removed: David S. Ilardi Offer Letter, dated February 14, 2022. *] [added: Insider Trading Policy.] | | | | | | Incorporated by reference to Exhibit [removed: 10.39] [added: 19.1] of the [removed: Company's] [added: Company’s] Form 10-K filed with the SEC on February [removed: 15, 2022 (File No. 001-35971)] [added: 18, 2025.] | | |

| [removed: [21.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924125000008/exhibit211-subsidiarieslis.htm)] [added: [21.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924126000007/exhibit211-subsidiarieslis.htm)] | | | | | | List of subsidiaries of Allegion plc. | | | | | | Filed herewith. | | |

| [removed: [22](https://www.sec.gov/Archives/edgar/data/1579241/000157924125000008/exhibit22-subsidiaryguaran.htm)] [added: [22](https://www.sec.gov/Archives/edgar/data/1579241/000157924126000007/exhibit22-subsidiaryguaran.htm)] | | | | | | Subsidiary Guarantors and Issuers of Guaranteed [removed: Securities] [added: Securities.] | | | | | | Filed herewith. | | |

| [removed: [23.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924125000008/exhibit231-2024consentofin.htm)] [added: [23.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924126000007/exhibit231-2025consentofin.htm)] | | | | | | Consent of Independent Registered Public Accounting Firm. | | | | | | Filed herewith. | | |

| [removed: [31.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924125000008/exhibit311-2024ceocertific.htm)] [added: [31.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924126000007/exhibit311-2025ceocertific.htm)] | | | | | | Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) or Rule 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | | | | | | Filed herewith. | | |

| [removed: [31.2](https://www.sec.gov/Archives/edgar/data/1579241/000157924125000008/exhibit312-2024cfocertific.htm)] [added: [31.2](https://www.sec.gov/Archives/edgar/data/1579241/000157924126000007/exhibit312-2025cfocertific.htm)] | | | | | | Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) or Rule 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | | | | | | Filed herewith. | | |

| [removed: [32.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924125000008/exhibit321-2024ceocfo906ce.htm)] [added: [32.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924126000007/exhibit321-2025ceocfo906ce.htm)] | | | | | | Certifications of Chief Executive Officer and Chief Financial Officer Pursuant to Rule 13a-14(b) or Rule 15d-14(b) and 18U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | | | | | | Filed herewith. | | |

| [10.4](https://www.sec.gov/Archives/edgar/data/1579241/000110465925119658/tm2532935d1_ex10-1.htm) | | | | | | First Amendment to Amended and Restated Credit Agreement, dated as of December 9, 2025. | | | | | | Incorporated by reference to Exhibit 10.1 of the Company's Form 8-K filed with the SEC on December 9, 2025. | | |

| [10.16](https://www.sec.gov/Archives/edgar/data/1579241/000157924126000007/exhibit1016-blaskoxofferle.htm) | | | | | | Joseph C. Blasko Offer Letter, dated May 9, 2025. * | | | | | | Filed herewith. | | |

| | | | | | | | | | | | | | | |

| [10.29](https://www.sec.gov/Archives/edgar/data/1579241/000119312522114077/d348556dex101.htm) | | | | | | Transaction Agreement, dated as of April 22, 2022, by and between Allegion US Holding Company Inc. Stanley Black & Decker, Inc., Stanley Black & Decker Canada Corporation, various entities thereto and Stanley Access Technologies LLC. | | | | | | Incorporated by reference to Exhibit 10.1 of the Company’s Form 8-K filed with the SEC on April 22, 2022 (File No. 001-35971). | | |

| [19.1](https://www.sec.gov/Archives/edgar/data/1579241/000157924125000008/exhibit191-insidertradingp.htm) | | | | | | Insider Trading Policy | | | | | | Filed herewith. | | |

| Date: | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ John H. Stone | | | | | | President and Chief Executive Officer (Principal Executive Officer) | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ Michael J. Wagnes | | | | | | Senior Vice President and Chief Financial Officer (Principal Financial Officer) | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ Nickolas A. Musial | | | | | | Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer) | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ Lauren B. Peters | | | | | | Chair of the Board | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ Susan L. Main | | | | | | Director | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ Steven C. Mizell | | | | | | Director | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ Nicole Parent Haughey | | | | | | Director | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ Ellen Rubin | | | | | | Director | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ Gregg C. Sengstack | | | | | | Director | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| /s/ Dev Vardhan | | | | | | Director | | | | | | February [removed: 18, 2025] [added: 17, 2026] | | |

| [Report of Independent Registered Public Accounting [removed: Firm](#i7862808e63ec4b6aaecfc8883981303b_115)] [added: Firm](#i8c843f2431704beb8927ccbe87bd91d0_115)] | | | [removed: F-[1](#i7862808e63ec4b6aaecfc8883981303b_115)] [added: F-[1](#i8c843f2431704beb8927ccbe87bd91d0_115)] | | |

| [Consolidated Statements of Comprehensive [removed: Income](#i7862808e63ec4b6aaecfc8883981303b_118)] [added: Income](#i8c843f2431704beb8927ccbe87bd91d0_118)] | | | [removed: F-[3](#i7862808e63ec4b6aaecfc8883981303b_118)] [added: F-[3](#i8c843f2431704beb8927ccbe87bd91d0_118)] | | |

| [Consolidated Balance [removed: Sheets](#i7862808e63ec4b6aaecfc8883981303b_121)] [added: Sheets](#i8c843f2431704beb8927ccbe87bd91d0_121)] | | | [removed: F-[4](#i7862808e63ec4b6aaecfc8883981303b_121)] [added: F-[4](#i8c843f2431704beb8927ccbe87bd91d0_121)] | | |

| [Consolidated Statements of [removed: Equity](#i7862808e63ec4b6aaecfc8883981303b_124)] [added: Equity](#i8c843f2431704beb8927ccbe87bd91d0_124)] | | | [removed: F-[5](#i7862808e63ec4b6aaecfc8883981303b_124)] [added: F-[5](#i8c843f2431704beb8927ccbe87bd91d0_124)] | | |

| [Consolidated Statements of Cash [removed: Flows](#i7862808e63ec4b6aaecfc8883981303b_127)] [added: Flows](#i8c843f2431704beb8927ccbe87bd91d0_127)] | | | [removed: F-[6](#i7862808e63ec4b6aaecfc8883981303b_127)] [added: F-[6](#i8c843f2431704beb8927ccbe87bd91d0_127)] | | |

| [Notes to Consolidated Financial [removed: Statements](#i7862808e63ec4b6aaecfc8883981303b_130)] [added: Statements](#i8c843f2431704beb8927ccbe87bd91d0_130)] | | | [removed: F-[7](#i7862808e63ec4b6aaecfc8883981303b_130)] [added: F-[7](#i8c843f2431704beb8927ccbe87bd91d0_130)] | | |

| [Financial Statement Schedule: Schedule II – Valuation and Qualifying Accounts for the years ended December 31, [removed: 202](#i7862808e63ec4b6aaecfc8883981303b_202)[4](#i7862808e63ec4b6aaecfc8883981303b_202)[, 202](#i7862808e63ec4b6aaecfc8883981303b_202)[3](#i7862808e63ec4b6aaecfc8883981303b_202)] [added: 202](#i8c843f2431704beb8927ccbe87bd91d0_202)[5](#i8c843f2431704beb8927ccbe87bd91d0_202)[, 202](#i8c843f2431704beb8927ccbe87bd91d0_202)[4](#i8c843f2431704beb8927ccbe87bd91d0_202)] [and [removed: 20](#i7862808e63ec4b6aaecfc8883981303b_202)[2](#i7862808e63ec4b6aaecfc8883981303b_202)2] [added: 20](#i8c843f2431704beb8927ccbe87bd91d0_202)[2](#i8c843f2431704beb8927ccbe87bd91d0_202)3] | | | [removed: F-[35](#i7862808e63ec4b6aaecfc8883981303b_202)] [added: F-[37](#i8c843f2431704beb8927ccbe87bd91d0_202)] | | |

We have audited the accompanying consolidated balance sheets of Allegion plc and its subsidiaries (the "Company") as of December 31, [removed: 2024] [added: 2025] and [removed: 2023,] [added: 2024,] and the related consolidated statements of comprehensive income, of equity and of cash flows for each of the three years in the period ended December 31, [removed: 2024,] [added: 2025,] including the related notes and financial statement schedule listed in the accompanying index (collectively referred to as the "consolidated financial statements").

We also have audited the Company's internal control over financial reporting as of December 31, [removed: 2024,] [added: 2025,] based on criteria established in *Internal Control - Integrated Framework* (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, [removed: 2024] [added: 2025] and [removed: 2023,] [added: 2024,] and the results of its operations and its cash flows for each of the three years in the period ended December 31, [removed: 2024] [added: 2025] in conformity with accounting principles generally accepted in the United States of America.

Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, [removed: 2024,] [added: 2025,] based on criteria established in *Internal Control - Integrated Framework* (2013) issued by the COSO.

[removed: Revenue Recognition][added: *Revenue Recognition*]

As described in Notes 2 and [removed: 20] [added: 18] to the consolidated financial statements, the Company has two principal revenue streams, tangible product sales and services and software.

For the year ended December 31, [removed: 2024,] [added: 2025,] the Company’s net revenues were [removed: $3,772.2] [added: $4,067.3] million.

Services and software offerings include inspection, maintenance and repair, aftermarket, design and installation [removed: and locksmith] services, as well as on-premise, software maintenance and software as a service solutions.

[removed: Unlike the single performance obligation to ship a product or bundle of products,] revenue related to services is recognized when the service based performance obligations are satisfied.

[removed: February 18, 2025][added: 2025]

| For the years ended December 31, | | | | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | |

| Net revenues | | | | | | $ | [removed: 3,772.2] [added: 4,067.3] | | | | | $ | [removed: 3,650.8] [added: 3,772.2] | | | | | $ | [removed: 3,271.9] [added: 3,650.8] | |

| Cost of goods sold | | | | | | [removed: 2,103.7] [added: 2,229.0] | | | | | | [removed: 2,069.3] [added: 2,103.7] | | | | | | [removed: 1,949.5] [added: 2,069.3] | | |

| Selling and administrative expenses | | | | | | [removed: 887.8] [added: 978.8] | | | | | | [removed: 865.6] [added: 887.8] | | | | | | [removed: 736.0] [added: 865.6] | | |

| Impairment of intangible assets | | | | | | — | | | | | | [removed: 7.5] [added: —] | | | | | | [removed: —] [added: 7.5] | | |

| Operating income | | | | | | [removed: 780.7] [added: 859.5] | | | | | | [removed: 708.4] [added: 780.7] | | | | | | [removed: 586.4] [added: 708.4] | | |

| Interest expense | | | | | | [removed: 102.0] [added: 101.0] | | | | | | [removed: 93.1] [added: 102.0] | | | | | | [removed: 75.9] [added: 93.1] | | |

| Other income, net | | | | | | [removed: (20.1)] [added: (9.9)] | | | | | | [removed: (1.9)] [added: (20.1)] | | | | | | [removed: (11.6)] [added: (1.9)] | | |

| Earnings before income taxes | | | | | | [removed: 698.8] [added: 768.4] | | | | | | [removed: 617.2] [added: 698.8] | | | | | | [removed: 514.5] [added: 617.2] | | |

| Provision for income taxes | | | | | | [removed: 101.3] [added: 124.6] | | | | | | [removed: 76.6] [added: 101.3] | | | | | | [removed: 56.2] [added: 76.6] | | |

| Net earnings | | | | | | [removed: 597.5] [added: 643.8] | | | | | | [removed: 540.6] [added: 597.5] | | | | | | [removed: 458.3] [added: 540.6] | | |

| Less: Net earnings attributable to noncontrolling interests | | | | | | — | | | | | | [removed: 0.2] [added: —] | | | | | | [removed: 0.3] [added: 0.2] | | |

February 17, 2026

| Net earnings | | | | | | 643.8 | | | | | | — | | | | | | — | | | | | | — | | | | | | 643.8 | | | | | | — | | | | | | — | | |

| Other comprehensive income, net | | | | | | 126.0 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 126.0 | | | | | | — | | |

| Repurchase of ordinary shares | | | | | | (80.0) | | | | | | — | | | | | | (0.6) | | | | | | (18.4) | | | | | | (61.6) | | | | | | — | | | | | | — | | |

| Shares issued under incentive stock plans | | | | | | 23.6 | | | | | | — | | | | | | 0.4 | | | | | | 23.6 | | | | | | — | | | | | | — | | | | | | — | | |

| Balance at December 31, 2025 | | | | | | $ | 2,067.6 | | | | | $ | 0.9 | | | | | 86.1 | | | | | | $ | 34.2 | | | | | $ | 2,238.1 | | | | | $ | (205.6) | | | | | $ | — | |

| Net earnings | | | | | | $ | 643.8 | | | | | $ | 597.5 | | | | | $ | 540.6 | |

| Impairment of intangible assets | | | | | | — | | | | | | — | | | | | | 7.5 | | |

Cash paid for income taxes, net of refunds, for the year ended December 31, 2025, was $121.2 million.

Irish federal taxes paid were $1.3 million, U.S. federal taxes paid were $72.5 million and other foreign taxes paid were $47.4 million.

The reduction in cash taxes paid in 2025 compared to prior years was primarily attributable to the 2025 enactment of the One Big Beautiful Bill Act in the United States, which allowed for the acceleration of certain tax deductions.

Unlike the single performance obligation to ship a product or bundle of products,

Share Repurchases: Common shares that are repurchased by the Company subsequent to issuance are immediately retired upon settlement and decrease the total number of shares issued and outstanding.

The cost of share repurchases is charged against shareholder's equity.

(1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign).

This guidance became effective for the Company in the current year.

See Note 16 to the Consolidated Financial Statements for further information.

In September 2025, the FASB issued ASU No. 2025-06, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software", which removes references to prescriptive and sequential software development stages, and requires entities to start capitalizing software costs when management has authorized and committed to funding the software project and it is probable that the project will be completed and the software will be used to perform the function intended.

The Company is currently evaluating the impact this ASU will have on the Company's Consolidated Financial Statements.

Acquisitions completed during the year ended December 31, 2025, included the following:

*Next Door*

On February 4, 2025, the Company, through its subsidiaries, acquired Next Door Company ("Next Door"), a global provider of security products and solutions based in the United States.

Next Door is reported in the Company's Allegion Americas segment.

*Lemaar*

On March 1, 2025, the Company, through its subsidiaries, acquired Lemaar Pty Ltd ("Lemaar"), a global provider of security products and solutions based in Australia.

Lemaar is reported in the Company's Allegion International segment.

*Trimco*

On April 2, 2025, the Company, through its subsidiaries, acquired 100% of Trimco Hardware ("Trimco"), a manufacturer of high-performance and custom-designed architectural hardware primarily sold for commercial and institutional markets based in the United States.

Trimco is reported in the Company's Allegion Americas segment.

*Novas*

On June 2, 2025, the Company, through its subsidiaries, acquired 100% of Nova Hardware Pty Ltd ("Novas"), an architectural door hardware company based in Australia.

Novas is reported in the Company's Allegion International segment.

*ELATEC*

On July 1, 2025, the Company, through its subsidiaries, acquired 100% of ELATEC, including Elatec GmbH and other group entities ("ELATEC").

ELATEC is a manufacturer of security and access technology based in Germany.

This acquisition helps the Company expand its global electronics portfolio in attractive end markets while also increasing strategic relationships with channel partners.

The purchase price of the acquisition was €327.9 million (approximately $386.5 million).

The Company used

cash on hand and borrowings under the Revolving Facility to finance the acquisition.

ELATEC is reported in the Company's Allegion International segment.

| /s/ Kirk S. Hachigian | | | | | | Director | | | | | | February 18, 2025 | | |

| (Kirk S. Hachigian) | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| Loss on divestitures | | | | | | — | | | | | | — | | | | | | 7.6 | | |

| Balance at December 31, 2021 | | | | | | $ | 762.4 | | | | | $ | 0.9 | | | | | 88.2 | | | | | | $ | — | | | | | $ | 952.6 | | | | | $ | (194.4) | | | | | $ | 3.3 | |

| Net earnings | | | | | | 458.3 | | | | | | — | | | | | | — | | | | | | — | | | | | | 458.0 | | | | | | — | | | | | | 0.3 | | |

| Other comprehensive loss, net | | | | | | (92.1) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (91.4) | | | | | | (0.7) | | |

| Repurchase of ordinary shares | | | | | | (61.0) | | | | | | — | | | | | | (0.5) | | | | | | (7.5) | | | | | | (53.5) | | | | | | — | | | | | | — | | |

| Dividends declared to noncontrolling interests | | | | | | (0.2) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (0.2) | | |

| Loss on divestitures | | | | | | — | | | | | | — | | | | | | 7.1 | | |

meets any established criteria.

based on a flat dollar benefit formula.

In November 2023, the FASB issued Accounting Standards Update No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures".

This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss.

This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources.

Refer to Note 22, Business Segment Information for the inclusion of the new required disclosures.

Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance.

There have been no other recent accounting pronouncements, changes in accounting pronouncements or recently adopted accounting guidance that have had or are expected to have a material impact on the Consolidated Financial Statements.

The Company has included the financial results of the acquisitions in its Consolidated Financial Statements from the respective acquisition dates.

| Goodwill | | | 74.7 | | |

2023

On January 3, 2023, the Company, through its subsidiaries, completed an acquisition of plano.

group ("plano"), a SaaS workforce management solution business based in Germany, for $36.6 million, net of cash acquired.

The acquisition was accounted for as a business combination and the financial results of plano have been included in the Company's Consolidated Financial Statements since the date of the acquisition.

Plano has been integrated into the Allegion International segment.

The finite-lived intangible assets have a weighted average useful life of approximately 15 years.

Goodwill results from several factors, including Allegion-specific synergies that were excluded from the cash flow projections used in the valuation of intangible assets and intangible assets that do not qualify for separate recognition, such as an assembled workforce.

Goodwill resulting from this acquisition is deductible for tax purposes.

| December 31, 2022 | | | $ | 1,128.1 | | | | | $ | 285.0 | | | | | $ | 1,413.1 | |

| Acquisitions and adjustments | | | (3.7) | | | | | | 23.0 | | | | | | 19.3 | | |

| Currency translation | | | 2.3 | | | | | | 8.4 | | | | | | 10.7 | | |

In accordance with the Company’s indefinite-lived intangible asset impairment testing policy, the Company performs its annual impairment test in the fourth quarter of each year or whenever there is a significant change in events or circumstances that indicate the fair value of an indefinite-lived intangible asset is more likely than not less than its carrying amount.

Intangible asset impairment charges are included in Impairment of intangible

assets in the Consolidated Statements of Comprehensive Income.

NOTE 8 - DIVESTITURES

In September 2022, the Company sold Milre Systek Co. Ltd. in South Korea for an immaterial amount.

As a result of the sale, the Company recorded a Loss on divestiture of $7.6 million, of which $1.6 million related to the reclassification of accumulated foreign currency translation adjustments to earnings upon sale.

| 5.600% Senior Notes due 2034 | | | 400.0 | | | | | | — | | |

The Company has an unsecured credit agreement in place, consisting of a $250.0 million term loan facility (the “Term Facility”), of which $212.5 million was outstanding at December 31, 2024, and a revolving credit facility (the “Revolving Facility” and, together with the Term Facility, the “Credit Facilities”), of which there was no balance outstanding as of December 31, 2024.