Jabil (JBL) 10-K risk factor changes: FY2022 vs FY2021

Public and private sector policies and initiatives to reduce the transmission of COVID-19, including travel restrictions and quarantines, [added: have and] are impacting our operations, including affecting the ability of our employees to get to our facilities, reducing capacity utilization levels, causing certain facility or intermittent business closures, and interrupting the movement or increasing the cost of moving components and products through our supply chain.

Our ability to manage growth effectively requires us to continue to implement and improve these systems; avoid cost overruns; maintain customer, supplier and other favorable business relationships during transition periods; efficiently and effectively dedicate resources to existing customers as well as new projects; acquire or construct additional facilities; occasionally transfer operations to different facilities; acquire equipment in anticipation of demand; [added: procure materials and components;] continue to develop the management skills of our managers and supervisors; adapt relatively quickly to new markets or technologies and continue to hire, train, motivate and manage our employees.

We currently depend, and expect to continue to depend for the foreseeable future, upon a relatively small number of customers for a significant percentage of our net revenue and upon their [added: continued existence,] growth, viability and financial stability.

See “Business – The Company.” In some instances, particular manufacturing services we provide for a customer represent a significant [added: portion of the overall revenue we receive from that customer.]

[removed: Most] [added: Our ability to schedule production, manage capital expenditures and maximize the efficiency] of our [removed: customers] [added: manufacturing capacity is highly dependent on the actions of our customers, who generally] do not commit to long-term production schedules, and [removed: they] may cancel [removed: their] orders, change production quantities, delay production or change [removed: their] sourcing [removed: strategy, which makes it difficult for us to schedule production and manage capital expenditures and to maximize the efficiency of our manufacturing capacity.][added: strategy.]

In the past, we have [added: also] been required to increase staffing and other expenses in order to meet [removed: the] anticipated demand.

Because we [added: may] make capital expenditures during this ramping-up process and do not receive payment until after we produce and ship the customer’s products, any delays or unanticipated costs in the ramping-up process may have a significant adverse effect on our cash flows and our results of operations.

Introducing new business models or programs requiring implementation of new competencies, such as new process technologies and our development of new products or [removed: services for customers,] [added: services,] could affect our operations and financial results.

The introduction of new business models or programs requiring implementation or development of new competencies, such as new process technology within our operations and our independent development of new products or [removed: services for customers,] [added: services,] presents challenges in addition to opportunities.

After the development of a new business [removed: model or] [added: model,] program, [added: product or service,] we typically must be able to manufacture appropriate volumes quickly and at low cost.

To accomplish this, we endeavor to accurately forecast volumes, mixes of products and [removed: configurations that meet customer requirements;] [added: configurations;] however, we do not always succeed at doing so.

The significant purchasing power and market power of these competitors, many [added: of which are] large companies, could increase pricing and competitive pressures for us.

Most of our significant long-term customer contracts permit quarterly or other periodic prospective adjustments to pricing based on decreases and increases in component prices and other factors; however, we [removed: typically] [added: could] bear the risk of component price increases that occur between any such re-pricings or, if such re-pricing is not permitted, during the balance of the term of the particular customer contract.

In the past there have been industry wide conditions, natural disasters and global events that have caused material [added: and component] shortages and shortages from the COVID-19 pandemic are ongoing.

Our production of a customer’s product [added: has and] could [added: again] be negatively impacted by any quality, reliability or availability issues with any of our component suppliers.

Purchasing components early may cause us to incur additional inventory carrying costs and may cause us to experience inventory obsolescence, both of which may not be recoverable from our customers and could adversely affect our [removed: gross profit margins and net income.]

A component shortage will require us to look to second tier vendors or to procure components through [removed: brokers with whom we are not familiar.][added: brokers.]

[removed: Furthermore, there can be no] assurance that all customer manufacturing needs can be met in available locations within the desired timeframe, or at all, which may cause us to lose business, which may negatively affect our financial condition and results of operation.

Entry into new international markets requires considerable management time as well as start-up expenses related to [added: market, personnel and facilities development before any significant revenue is generated.]

[removed: - Operating risks, such as: (1) the diversion of management’s attention and resources to the integration of the acquired businesses and their employees and to the management of expanding operations; (2) the risk that the acquired businesses will fail to maintain the quality of services that we have historically provided; (3) the need to implement] financial and other systems and add management resources; (4) the need to maintain customer, supplier or other favorable business relationships of acquired operations and restructure or terminate unfavorable relationships; (5) the potential for deficiencies in internal controls of the acquired operations; (6) the inability to attract and retain the employees necessary to support the acquired businesses; (7) potential inexperience in a line of business that is either new to us or that has become materially more significant to us as a result of the transaction; (8) unforeseen difficulties (including any unanticipated liabilities) in the acquired operations; (9) the impact on us of any unionized work force we may acquire or any labor disruptions that might occur; (10) the possibility that the acquired business’s past transactions or practices before our acquisition may lead to future commercial or regulatory risks; (11) the difficulty of presenting a unified corporate image; (12) the possibility that we will have unutilized capacity due to our acquisition activity; (13) when acquiring an operation from a customer and continuing or entering into a supply arrangement, our inability to meet the expectations of the customer as to volume, product quality, timeliness and cost reductions.

[removed: Over the past several] [added: In recent] years, we have undertaken initiatives to restructure our business operations with the intention of improving utilization and realizing cost savings.

We attempt to monitor and mitigate our exposure [added: to cybersecurity issues] and modify our systems when warranted and we have implemented certain business continuity items including data backups at alternative sites.

Nevertheless, these systems are vulnerable to, and at times have suffered from, among other things, damage from power loss or natural disasters, computer system and network failures, loss of telecommunication services, physical and electronic loss of data, terrorist attacks, security breaches, [added: phishing,] cyberattacks and computer viruses.

The increased use of mobile technologies and the internet of things can [removed: heighten these and other operational risks.]

We are subject to extensive government regulation and industry standards relating to the products we design and manufacture as well as how we conduct our business, including regulations and standards relating to labor and employment [added: practices, workplace health and safety, the environment, sourcing and import/export practices, the market sectors we support, privacy and data protection, the regulations that apply to government contracts, and many other facets of our operations.]

The FDA, through periodic inspections and post-market surveillance, continuously and rigorously monitors compliance with these QSR requirements and other applicable [removed: regulatory requirements.]

In China, the [removed: Safe Food and Drug] [added: National Medical Products] Administration controls and regulates the manufacture and commerce of healthcare products.

We are subject to a variety of federal, state, local and foreign environmental, health and safety, product stewardship and producer responsibility laws and regulations, including those arising from global pandemics or relating to the use, generation, [added: storage, discharge and disposal of hazardous chemicals used during our manufacturing process, those governing worker health and safety, those requiring design changes, supply chain investigation or conformity assessments and those relating to the recycling or reuse of products we manufacture.]

In addition, there is an increasing governmental focus around the world on global warming and environmental impact issues, which [removed: may result] [added: has resulted] in new environmental, health and safety regulations that may affect us, our suppliers and our customers.

Intellectual property clearance or licensing [added: efforts or] activities, if any, may be inadequate to anticipate and avoid intellectual property claims.

[removed: We] [added: These liabilities] may [removed: be responsible for] [added: include an increase in exposure to] claims that [removed: our services, designs, technology and products,] [added: products we design] or [removed: components, equipment] [added: supply,] or [removed: processes we supply] [added: processes, materials] or [added: components we] use, infringe, misappropriate or otherwise violate [removed: third party] [added: third-party] intellectual property rights.

Providing turnkey design solutions, designs, [removed: technology] [added: technologies, products] and other services may expose us to different or greater potential liabilities than those we face providing traditional manufacturing services.

[removed: These liabilities may include an increase in exposure to claims that products] [added: processes] we [removed: design or supply, or materials] [added: supply] or [removed: components we] use, infringe, misappropriate or otherwise violate [removed: third-party] [added: third party] intellectual property rights.

Customers for our [added: products and] services in which we provide significant design or technology contributions sometimes require that we indemnify them against risk of intellectual property claims.

In addition, our effective tax rate may be increased by changes in the mix of earnings between jurisdictions, changes in the valuation of deferred tax assets and liabilities, changes in our cash management strategies, changes in local tax rates or countries adopting more aggressive interpretations of tax laws, or other legislative [removed: changes, including the proposed Made in America tax plan, if enacted.][added: changes.]

There is a risk that the taxing authorities may not deem our transfer pricing [added: methodology or] documentation acceptable.

[removed: In addition, the] [added: The] Organization for Economic Cooperation and Development [removed: continues to issue guidelines and proposals related to] [added: (OECD), along with the G20, issued an inclusive framework in October 2021 on] Base Erosion and Profit Shifting which may result in legislative changes that could reshape international tax [removed: rules in numerous countries and negatively impact our effective tax rate.][added: rules, including the introduction of a global minimum tax.]

An adverse change in the base rates upon which our interest rates are determined [removed: could] [added: has and may continue to] have a material adverse effect on our financial position, results of operations and cash flows.

Energy price increases [added: or shortages] may negatively impact our results of operations.

An increase in energy prices, which have been volatile historically, [added: or energy shortages or restrictions] could cause [removed: an] [added: disruption in our operations and/or] increase in our raw material costs and transportation costs.

Many factors outside of our control impact our customers and their ordering behavior, including global pandemics, recession in end markets, changing technology and industry standards, commercial acceptance for products and shifting market demand, product obsolescence, and loss of business.

Inflation rates have increased and may continue to rise.

Our suppliers have raised their prices and may continue to raise prices.

In fiscal year 2022, our supply chain was impacted by component shortages, most notably in the semiconductor industry.

gross profit margins and results of operations.

- geopolitical unrest, including the invasion of Ukraine, the possibility of military activity in countries near or adjacent to Ukraine, and the sanctions and other actions taken by the European Union, the United States, and other governments around the world in response;

Furthermore, there can be no

- Operating risks, such as: (1) the diversion of management’s attention and resources to the integration of the acquired businesses and their employees and to the management of expanding operations; (2) the risk that the acquired businesses will fail to maintain the quality of services that we have historically provided; (3) the need to implement

heighten these and other operational risks.

regulatory requirements.

We may be responsible for claims that our services, designs, technologies, products, or components, equipment or

Our effective tax rate could be adversely impacted if these provisions are adopted.

As this framework is subject to further negotiation and implementation by each member country, the timing and ultimate impacts of any such changes on our tax obligations are uncertain.

We are susceptible to losses and interruptions caused by hurricanes (including in Florida,

If we do not manage our growth effectively, our profitability could decline.

See “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

portion of the overall revenue we receive from that customer.

Consolidation among our customers exposes us to increased risks, including reduced revenue and dependence on a smaller number of customers.

Increasing consolidation in industries that utilize our services may occur as companies combine to achieve further economies of scale and other synergies, which could result in an increase in excess manufacturing capacity as companies seek to divest manufacturing operations or eliminate duplicative product lines.

Excess manufacturing capacity may increase pricing and competitive pressures for our industry as a whole and for us in particular.

Such consolidation among our customers may further reduce the number of customers that generate a significant percentage of our net revenue and expose us to increased risks relating to dependence on a small number of customers.

Our customers face numerous competitive challenges, which may materially adversely affect their business and ours.

Factors adversely affecting our customers may also adversely affect us.

These factors include:

- the impact of the COVID-19 pandemic on our customers;

- recessionary periods in our customers’ markets;

- the inability of our customers to adapt to rapidly changing technology and evolving industry standards, which may contribute to short product life cycles or shifts in our customers’ strategies;

- the inability of our customers to develop, market or gain commercial acceptance of their products, some of which are new and untested;

- the potential that our customers’ products become commoditized or obsolete;

- loss of business or a reduction in pricing power experienced by our customers;

- the emergence of new business models or more popular products and shifting patterns of demand; and

- a highly-competitive consumer products industry, which is often subject to shorter product lifecycles, shifting end-user preferences and higher revenue volatility.

If our customers are unsuccessful in addressing these competitive challenges, their businesses may be materially adversely affected, reducing the demand for our services, decreasing our revenues or altering our production cycles and inventory management, each of which could adversely affect our ability to cover fixed costs and our gross profit margins and results of operations.

market, personnel and facilities development before any significant revenue is generated.

We have expanded the primary scope of our acquisitions strategy beyond focusing on acquisition opportunities presented by companies divesting internal manufacturing operations.

As we continue to pursue acquisitions that diversify our business into new industry sectors with new customers and services, the amount and scope of the risks associated may extend beyond

those that we have traditionally faced in making acquisitions.

These risks include greater uncertainties in the financial benefits and potential liabilities associated with this expanded base of acquisitions.

practices, workplace health and safety, the environment, sourcing and import/export practices, the market sectors we support, privacy and data protection, the regulations that apply to government contracts, and many other facets of our operations.

storage, discharge and disposal of hazardous chemicals used during our manufacturing process, those governing worker health and safety, those requiring design changes, supply chain investigation or conformity assessments and those relating to the recycling or reuse of products we manufacture.

In addition, the U. K.’s Financial Conduct Authority, which regulates LIBOR, announced that it intends to phase out LIBOR by the end of 2021, though the ICE Benchmark Administration, the administrator of LIBOR, announced that it would consider ceasing the publication of the one week and two-month U.S. dollar LIBOR settings at the end of 2021 and phase out the remaining U.S. dollar LIBOR settings by June 30, 2023.

The transition from LIBOR to a new replacement benchmark is

uncertain at this time and the consequences of such developments cannot be entirely predicted but could result in an increase in the cost of borrowings on our variable rate debt, which could adversely impact our interest expense, results of operations and cash flows.

While we maintain similar manufacturing capacities at different locations and coordinate multi-source supplier

[added: Changes] in the fair market value of such hedging instruments are reflected within the Consolidated Statement of Operations and the Consolidated Statement of Comprehensive Income.

| | | | [removed: 2021] [added: 2022] | | | | | | [removed: 2020] [added: 2021] | | | | | | [removed: 2019] [added: 2020] | | |

| Net revenue | | | $ | [removed: 29,285] [added: 33,478] | | | | | $ | [removed: 27,266] [added: 29,285] | | | | | $ | [removed: 25,282] [added: 27,266] | |

| Gross profit | | | $ | [removed: 2,359] [added: 2,632] | | | | | $ | [removed: 1,931] [added: 2,359] | | | | | $ | [removed: 1,913] [added: 1,931] | |

| Operating income | | | $ | [removed: 1,055] [added: 1,393] | | | | | $ | [removed: 500] [added: 1,055] | | | | | $ | [removed: 701] [added: 500] | |

| Net income attributable to Jabil Inc. | | | $ | [removed: 696] [added: 996] | | | | | $ | [removed: 54] [added: 696] | | | | | $ | [removed: 287] [added: 54] | |

| Earnings per share – basic | | | $ | [removed: 4.69] [added: 7.06] | | | | | $ | [removed: 0.36] [added: 4.69] | | | | | $ | [removed: 1.85] [added: 0.36] | |

| Earnings per share – diluted | | | $ | [removed: 4.58] [added: 6.90] | | | | | $ | [removed: 0.35] [added: 4.58] | | | | | $ | [removed: 1.81] [added: 0.35] | |

| | | | Three Months Ended | | | | | | | | | | | | | | | [removed: | | | | | | | | |]

| | | | August 31, [removed: 2021] [added: 2022] | | | | | | May 31, [removed: 2021] [added: 2022] | | | | | | August 31, [removed: 2020 | | | | | | | | |] [added: 2021] | | |

| Sales cycle(1) | | | [removed: 19] [added: 32] days | | | | | | [removed: 25] [added: 37] days | | | | | | [removed: 16] [added: 19] days | | | [removed: | | | | | | | | |]

| Inventory turns (annualized)(2) | | | 5 turns | | | | | | [removed: 5] [added: 4] turns | | | | | | [removed: 6] [added: 5] turns | | | [removed: | | | | | | | | |]

| Days in accounts receivable(3) | | | [removed: 38 days | | | | | |] 40 days | | | | | | 35 days | | | | | | [removed: | | |] [added: 38 days] | | |

| Days in inventory(4) | | | [removed: 71] [added: 79] days | | | | | | [removed: 68] [added: 85] days | | | | | | [removed: 56] [added: 71] days | | | [removed: | | | | | | | | |]

| Days in accounts payable(5) | | | [removed: 90] [added: 87] days | | | | | | [removed: 84] [added: 83] days | | | | | | [removed: 75] [added: 90] days | | | [removed: | | | | | | | | |]

During the three months ended August 31, [removed: 2021,] [added: 2022,] the increase in days in accounts receivable from the three months ended [added: May 31, 2022 and] August 31, [removed: 2020] [added: 2021] was primarily due to an increase in accounts receivable, primarily driven by higher sales and the timing of collections.

During the three months ended August 31, [removed: 2021,] [added: 2022,] the decrease in days in [removed: accounts receivable] [added: inventory] from the prior sequential quarter was [removed: driven] primarily [added: driven] by [added: increased sales activity during] the [removed: timing of collections.][added: quarter.]

During the three months ended August 31, [removed: 2021,] [added: 2022,] the increase in days in inventory from the three months ended August 31, [removed: 2020] [added: 2021] was primarily [added: due] to [added: higher raw material balances due to supply-chain constraints and to] support expected sales levels in the first quarter of fiscal year [removed: 2022 and supply-chain constraints as a result of the COVID-19 pandemic.][added: 2023.]

[removed: During the three months] ended August 31, [removed: 2021,] [added: 2022,] the increase in days in accounts payable from the three months ended May 31, [removed: 2021 and August 31, 2020] [added: 2022] was primarily due to an increase in materials purchases and timing of payments.

We review [removed: property, plant and equipment and] amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

We completed our annual impairment analysis for goodwill and indefinite-lived intangible assets during the fourth quarter of fiscal year [removed: 2021.][added: 2022.]

"Management's Discussion and Analysis of Financial Condition and Results of Operations" section contained in our Annual Report on Form 10-K for the fiscal year ended August 31, [removed: 2020] [added: 2021] for the results of operations discussion for the fiscal year ended August 31, [removed: 2020] [added: 2021] compared to the fiscal year ended August 31, [removed: 2019.][added: 2020.]

| (dollars in millions) | | | [removed: 2021] [added: 2022] | | | | | | [removed: 2020] [added: 2021] | | | | | | [removed: 2019] [added: 2020] | | | | | | [removed: 2021] [added: 2022] vs. [removed: 2020] [added: 2021] | | | | | | [removed: 2020] [added: 2021] vs. [removed: 2019(1)] [added: 2020] | | |

| Net revenue | | | $ | [removed: 29,285] [added: 33,478] | | | | | $ | [removed: 27,266] [added: 29,285] | | | | | $ | [removed: 25,282] [added: 27,266] | | | | | [removed: 7.4] [added: 14.3] | | % | | | | [removed: 7.8] [added: 7.4] | | % |

[removed: *2021] [added: | | | | 2022 | | | | | | 2021 | | | | | | 2020 | | | | | | 2022] vs. [removed: 2020*][added: 2021 | | | | | | 2021 vs. 2020 | | |]

Net revenue increased during the fiscal year ended August 31, [removed: 2021] [added: 2022] compared to the fiscal year ended August 31, [removed: 2020.][added: 2021.]

[removed: Specifically, the] [added: The] DMS segment net revenue increased [removed: 17%] [added: 9%] due to: (i) a 6% increase in revenues from existing customers within our [removed: mobility business as our ability to meet customer demand during the fiscal year ended August 31, 2020, was greatly diminished due to COVID-19 containment efforts in China,] [added: automotive and transportation business,] (ii) a [removed: 4%] [added: 3%] increase in revenues from existing customers within our [removed: connected devices business, (iii) a 4% increase in revenues from existing customers in our automotive] [added: healthcare] and [removed: transportation business] [added: packaging businesses] and [removed: (iv)] [added: (iii)] a [removed: 3%] [added: 2%] increase in revenues from existing customers within our [removed: healthcare and packaging businesses.][added: connected devices business.]

[removed: Net] [added: Research and development expenses remained consistent as a percent of net] revenue [removed: increased] during the fiscal year ended August 31, [removed: 2020] [added: 2022] compared to the fiscal year ended August 31, [removed: 2019.][added: 2021.]

Specifically, the EMS segment [removed: revenues] [added: net revenue] increased [removed: 9% primarily] [added: 20%] due [removed: to] [added: to:] (i) a [removed: 10%] [added: 9%] increase in revenues from existing customers within our 5G, wireless and cloud [removed: business and] [added: business,] (ii) a [removed: 3%] [added: 5%] increase in revenues from existing customers within our [added: digital print and retail business, (iii) a 4% increase in revenues from existing customers within our] industrial and capital equipment [added: business and (iv) a 2% increase in revenues from existing customer within our networking and storage] business.

The increase [removed: is] [added: was] partially offset by [removed: (i)] a 2% decrease [removed: from existing customers within our networking and storage business and (ii) a 2% decrease] in revenues from existing customers within our [removed: digital print and retail] [added: mobility] business.

| EMS | | | [removed: 47] [added: 50] | | % | | | | [removed: 52] [added: 47] | | % | | | | [removed: 51] [added: 52] | | % |

| DMS | | | [removed: 53] [added: 50] | | % | | | | [removed: 48] [added: 53] | | % | | | | [removed: 49] [added: 48] | | % |

| Foreign source revenue | | | [removed: 83.6] [added: 83.9] | | % | | | | [removed: 82.6] [added: 83.6] | | % | | | | [removed: 87.7] [added: 82.6] | | % |

| | | | Fiscal Year Ended August 31, | | | | | | | | | | | | | | | [removed: | | | | | |]

| (dollars in millions) | | | [removed: 2021 | | | | | | 2020] [added: 2022] | | | | | | [removed: 2019] [added: 2021] | | | | | | [added: 2020] | | |

| Gross profit | | | $ | [removed: 2,359] [added: 2,632] | | | | | $ | [removed: 1,931] [added: 2,359] | | | | | $ | [removed: 1,913 | | | | | |] [added: 1,931] | |

| Percent of net revenue | | | [removed: 8.1] [added: 7.9] | | % | | | | [removed: 7.1] [added: 8.1] | | % | | | | [removed: 7.6] [added: 7.1] | | % | [removed: | | | | | |]

| (dollars in millions) | | | [removed: 2021 | | | | | | 2020 | | | | | | 2019] [added: 2022] | | | | | | [removed: 2021 vs. 2020] [added: 2021] | | | | | | [removed: 2020 vs. 2019] [added: 2020] | | |

| Selling, general and administrative | | | $ | [removed: 1,213] [added: 1,154] | | | | | $ | [removed: 1,175] [added: 1,213] | | | | | $ | [removed: 1,111] [added: 1,175] | | | | | $ | [removed: 38] [added: (59)] | | | | | $ | [removed: 64] [added: 38] | |

Selling, general and administrative expenses [removed: increased] [added: decreased] during the fiscal year ended August 31, [removed: 2021] [added: 2022] compared to the fiscal year ended August 31, [removed: 2020.][added: 2021.]

During the three months ended August 31, 2022, the decrease in days in accounts payable from the three months ended August 31, 2021 was primarily due to timing of purchases and cash payments during the quarter.

During the three months

*2022 vs. 2021*

During fiscal year 2023, we expect an additional $500 million in components that we procure and integrate for our cloud business will shift from a purchase and resale model to a customer-controlled consignment service model.

As a result of this continued transition, revenue associated with these components are shown on a net basis and as a result, we expect higher gross margins and lower cash used in this business.

| | | | 2022 | | | | | | 2021 | | | | | | 2020 | | |

| | | | 2022 | | | | | | 2021 | | | | | | 2020 | | |

*2022 vs. 2021*

Gross profit as a percentage of net revenue decreased for the fiscal year ended August 31, 2022 compared to the fiscal year ended August 31, 2021, primarily due to product mix.

*2022 vs. 2021*

*2022 vs. 2021*

| (in millions) | | | 2022 | | | | | | 2021 | | | | | | 2020 | | | | | | 2022 vs. 2021 | | | | | | 2021 vs. 2020 | | |

*2022 vs. 2021*

(1)Recorded during the fiscal year ended August 31, 2022 for headcount reduction activities.

Loss on Debt Extinguishment

| (in millions) | | | 2022 | | | | | | 2021 | | | | | | 2020 | | | | | | 2022 vs. 2021 | | | | | | 2021 vs. 2020 | | |

| Loss on debt extinguishment | | | $ | 4 | | | | | $ | — | | | | | $ | — | | | | | $ | 4 | | | | | $ | — | |

*2022 vs. 2021*

Loss on debt extinguishment is due to the “make-whole” premium incurred during the fiscal year ended August 31, 2022, for the redemption of the 4.700% Senior Notes due 2022.

| (in millions) | | | 2022 | | | | | | 2021 | | | | | | 2020 | | | | | | 2022 vs. 2021 | | | | | | 2021 vs. 2020 | | |

*2022 vs. 2021*

| (in millions) | | | 2022 | | | | | | 2021 | | | | | | 2020 | | | | | | 2022 vs. 2021 | | | | | | 2021 vs. 2020 | | |

*2022 vs. 2021*

| (in millions) | | | 2022 | | | | | | 2021 | | | | | | 2020 | | | | | | 2022 vs. 2021 | | | | | | 2021 vs. 2020 | | |

*2022 vs. 2021*

| (in millions) | | | 2022 | | | | | | 2021 | | | | | | 2020 | | | | | | 2022 vs. 2021 | | | | | | 2021 vs. 2020 | | |

*2022 vs. 2021*

Additionally, the increase is due to higher borrowings on our senior notes.

| | | | Fiscal Year Ended August 31, | | | | | | | | | | | | | | | | | | Change | | | | | | | | |

*2022 vs. 2021*

These decreases were partially offset by a $17 million income tax expense for an unrecognized tax benefit related to the taxation of certain prior year intercompany transactions for the fiscal year ended August 31, 2022.

In certain jurisdictions where we do not expect to

Refer to Item 7.

"Management's Discussion and Analysis of Financial Condition and Results of Operations" section contained in our Annual Report on Form 10-K for the fiscal year ended August 31, 2021 for the non-GAAP financial measures discussion for the fiscal year ended August 31, 2021 compared to the fiscal year ended August 31, 2020.

| Adjustments to operating income | | | 150 | | | | | | 186 | | | | | | 364 | | |

| Loss on debt extinguishment(3) | | | 4 | | | | | | — | | | | | | — | | |

(1)Recorded during the fiscal year ended August 31, 2022 for headcount reduction activities.

We are reclassifying the pension components in other expense to

(3)Charges related to the redemption of our 4.700% Senior Notes due 2022.

(4)The fiscal year ended August 31, 2022 includes an income tax benefit of $26 million for the reversal of a portion of the U.S. valuation allowance.

As of September 1, 2020, certain customers were realigned within our operating segments.

Our operating segments, which are the reporting segments, continue to consist of the DMS and EMS segments.

Customers within the automotive and transportation and smart home and appliances industries are now presented within the DMS segment.

Prior period disclosures are restated to reflect the realignment.

Changes

During the fiscal year ended August 31, 2020, we incurred approximately $142 million in direct costs associated with the COVID-19 outbreak, primarily due to incremental and idle labor costs and the procurement of personal protection equipment for our employees globally.

This increase in costs was partially offset by governmental subsidies, such as lower payroll taxes or social insurance in certain countries, related to COVID-19 incentives.

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During the three months ended August 31, 2021, the increase in days in inventory from the prior sequential quarter was primarily driven by supply-chain constraints as a result of the COVID-19 pandemic.

Certain contracts with customers include variable consideration, such as periodic cost of materials adjustments, rebates, discounts, or returns.

We recognize estimates of this variable consideration that are not expected to result in a significant revenue reversal in the future, primarily based on the most likely level of consideration to be paid to the customer under the specific terms of the underlying programs.

Recoverability of property, plant and equipment is measured by comparing its carrying value to the undiscounted projected cash flows that the asset(s) or asset group(s) are expected to generate.

If the carrying amount of an asset or an asset group is not recoverable, we recognize an impairment loss based on the excess of the carrying amount of the long-lived asset or asset group over its respective fair value, which is generally determined as either the present value of estimated future cash flows or the appraised value.

The impairment analysis is based on significant assumptions of future results made by management, including revenue and cash flow projections.

Circumstances that may lead to impairment of property, plant and equipment include unforeseen decreases in future

performance or industry demand and the restructuring of our operations resulting from a change in our business strategy or adverse economic conditions.

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

(1)As of September 1, 2020, certain customers were realigned within our operating segments.

The EMS segment net revenue decreased 1% due primarily to a decrease in revenues from existing customers in our cloud business, which began transitioning to a consignment model in fiscal year 2021.

*2020 vs. 2019*

DMS segment revenues increased 7% due to (i) an 8% increase in revenues from new and existing customers in our healthcare and packaging businesses and (ii) a 1% increase in revenues from existing customers in our automotive and transportation business.

The increase is partially offset by a 2% decrease in revenue from customers within our connected devices business.

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Gross profit as a percentage of net revenue increased for the fiscal year ended August 31, 2021 compared to the fiscal year ended August 31, 2020, primarily due to: (i) product mix and improved profitability across various businesses and (ii) a decrease of $72 million in incremental and idle labor costs associated with travel disruptions and governmental restrictions, largely related to the COVID-19 pandemic.

The increase is partially offset by a $29 million decrease primarily due to lower acquisition and integration charges related to our strategic collaboration with a healthcare company.

(1)As the Company continued to optimize its cost structure and improve operational efficiencies, $57 million of employee severance and benefit costs was incurred in connection with a reduction in the worldwide workforce during the fiscal year ended August 31, 2020.

The remaining amount primarily relates to the 2020 Restructuring Plan, which was complete as of August 31, 2021.

(2)Primarily relates to the 2017 Restructuring Plan, which was complete as of August 31, 2019.

Interest income decreased during the fiscal year ended August 31, 2021 compared to the fiscal year ended August 31, 2020, due to lower interest rates, partially offset by increased interest income on higher cash equivalents (investments that are readily convertible to cash with maturity dates of 90 days or less).

The remaining amount primarily related to the 2020 Restructuring Plan.

(2)Relates to accounts receivable and inventory charges for certain distressed customers.

(4)Charges, net of insurance proceeds, for the fiscal years ended August 31, 2021 and 2020, relate to a flood that impacted our facility in Huangpu, China.

(5)Charges related to our strategic collaboration with Johnson & Johnson Medical Devices Companies (“JJMD”).

(6)Relates to an impairment of an investment with iQor and the sale of an investment in the optical networking segment during fiscal year 2020.

(7)The fiscal year ended August 31, 2019 includes a $13 million income tax benefit for the effects of the Tax Cuts and Jobs Act of 2017 (“Tax Act”) recorded during the three months ended November 30, 2018.

| Cash receipts on sold receivables | | | — | | | | | | — | | | | | | 97 | | |

(1)In fiscal year 2019, the adoption of Accounting Standards Update ("ASU") 2016-15, "Classification of Certain Cash Receipts and Cash Payments" resulted in a reclassification of cash flows from operating activities to investing

The forward contracts (both those that are designated and not designated as accounting hedging instruments) will generally expire in less than three months, with 11 months being the maximum term of the contracts outstanding as of August 31, [removed: 2021.][added: 2022.]

The forward contracts are primarily denominated in Chinese yuan renminbi, [removed: Euros, Indian Rupee,] [added: Euro,] Malaysian [removed: ringgit and] [added: ringgit,] Mexican [removed: pesos.][added: peso and Swiss franc.]

Based on our overall currency rate exposures as of August 31, [removed: 2021,] [added: 2022,] including the derivative financial instruments intended to hedge the nonfunctional currency-denominated monetary assets and liabilities, an immediate 10% hypothetical change of foreign currency exchange rates would not have a material effect on our Consolidated Financial Statements.

We are exposed to interest rate risk primarily on [added: intra-quarter] variable rate borrowings under the Credit [removed: Facility.][added: Facility and our commercial paper program.]

There were no borrowings outstanding under debt facilities with variable interest rates as of August 31, [removed: 2021.][added: 2022.]

In connection with our anticipated debt issuance, we have interest rate swaps with aggregate notional amounts of [removed: $250] [added: $150] million and [removed: $150] [added: $100] million, which expire on July 31, 2024.

A hypothetical 100-basis-point increase in the interest rates under the Credit Facility and our commercial paper program would increase our interest expense as of August 31, 2022 by approximately $18 million.

Primarily due to the current low interest rates, the impact of a hypothetical change of 10% in variable interest rates would not have a material effect on our Consolidated Financial Statements.

We have interest rate swap agreements with a notional value of $50 million, with a mandatory termination date of February 15, 2022 (the “2020 Extended Interest Rate Swaps”).

In addition, we have entered into interest rate swaps to offset future exposures of fluctuations in the fair value of the 2020 Extended Interest Rate Swaps.

We conduct our operations in facilities that are located worldwide, including but not limited [removed: to,] [added: to] China, [removed: Hungary,] [added: Ireland,] Malaysia, Mexico, Singapore, and the United States.

For the fiscal year ended August 31, [removed: 2021,] [added: 2022,] we had net revenues of [removed: $29.3] [added: $33.5] billion and net income attributable to Jabil Inc. of [removed: $696] [added: $996] million.

Providers are also able to more rapidly scale production for changing markets and to position themselves in global locations that [added: serve the leading world markets.]

[removed: - Access to Advanced Design and Manufacturing Technologies. By utilizing manufacturing service providers, customers gain access to additional advanced technologies in manufacturing processes, as well as to product and] production design, which can offer customers significant improvements in the performance, quality, cost, time-to-market and manufacturability of their products.

- Manufacturing Test Solution Development. Our Manufacturing Test Solution Development team provides integral support to the design teams to embed design with testability and to promote efficient capital and resource investment [removed: in the manufacturing process.]

In fiscal year [removed: 2021,] [added: 2022,] our five largest customers accounted for approximately [removed: 47%] [added: 44%] of our net revenue and [removed: 82] [added: 79] customers accounted for approximately 90% of our net revenue.

The table below sets forth the respective portion of net revenue attributable to the [removed: customers] [added: customer] that accounted for a significant concentration of our net revenue during the periods indicated:

| | | | [removed: 2021] [added: 2022] | | | | | | [removed: 2020] [added: 2021] | | | | | | [removed: 2019] [added: 2020] | | |

| Apple, Inc. | | | [removed: 22] [added: 19] | | % | | | | [removed: 20] [added: 22] | | % | | | | [removed: 22] [added: 20] | | % |

[removed: We also face competition from the manufacturing] operations of our current and potential customers, who are continually evaluating the merits of manufacturing products internally against the advantages of outsourcing.

As of August 31, [removed: 2021,] [added: 2022,] our workforce includes diverse, talented and dedicated employees across approximately 100 locations in more than 30 [removed: countries, and simply stated, they are what] [added: countries who] differentiate us from our competitors.

To maintain our edge, we continually invest in our employees, so that they can [removed: make anything possible and everything better for] [added: take care of] our customers, [removed: shareholders,] [added: shareholders] and communities.

| Americas | | | | | | [removed: 41] [added: 51] | | |

None of our U.S. [removed: domestic] employees [removed: have chosen to be] [added: are] represented by a labor union.

We have [removed: never] [added: not] experienced a significant work stoppage or strike and promote [removed: a culture of] positive employee relations.

From the outset of the COVID-19 pandemic, we established prevention protocols, which [removed: have] allowed our sites to operate safely with minimal disruption.

[removed: -] Quarantine and contact tracing protocols have been established for suspected and/or confirmed [removed: cases] [added: cases,] and a robust follow-up process has been implemented to ensure the well-being of our [removed: employees][added: employees.]

We have aligned our work programs, processes and procedures to the RBA Code of Conduct [removed: so as] to ensure working conditions are safe, employees are treated with respect and [removed: dignity,] [added: dignity] and manufacturing process and practices are environmentally responsible.

Diverse backgrounds, experiences and opinions are [removed: welcome here.][added: welcome.]

We work together in a way that enables our employees to be their true [removed: self,] [added: selves,] challenges them and encourages them, while allowing them to make a difference at work and in the world.

In [removed: FY21,] [added: fiscal year 2022,] there were [removed: over 35,000] [added: more than 37,000] internal promotions at various levels in Jabil, a [removed: true] testament to our ability to grow and develop our own talent.

- All [added: full-time] U.S. employees are eligible for health insurance, paid and unpaid leaves, a retirement [removed: plan,] [added: plan] and life and disability/accident coverage.

These include a global employee assistance program (EAP), on-site behavioral health resources in some locations and education for our leaders [removed: regarding how] [added: on ways] to recognize and respond to signs of mental health and substance abuse issues.

- [removed: Almost all] [added: The majority] of our employees around the world are eligible to participate in our Employee Stock Purchase plan, allowing them to become owners of Jabil stock at a discount.

In May 2021, we conducted a [added: global] Voice of the Employee Survey, utilizing a third party to administer it.

[removed: Borges (age 53) was named] [added: He previously served as] Executive Vice President, Chief Executive Officer, Regulated [removed: Industries in] [added: Industries, from] September [removed: 2020] [added: 2020,] with additional responsibility for [removed: Additive Manufacturing.][added: additive Manufacturing and as Executive Vice President, Chief Executive Officer, Healthcare from September 2016 through August 2020.]

Michael Dastoor (age [removed: 56)] [added: 57)] was named Executive Vice President, Chief Financial Officer [removed: effective] [added: in] September 2018.

He holds a [added: Bachelor's] degree in [removed: Finance and] Accounting from the University of [removed: Bombay.][added: South Florida and an MBA from the University of Florida.]

[removed: Mr. Dastoor] [added: degree in Finance and Accounting from the University of Bombay and] is a Chartered Accountant from the Institute of Chartered Accountants in England and Wales.

[removed: Johnson] [added: Frank McKay] (age [removed: 65)] [added: 52)] was named [removed: Executive] [added: Senior] Vice President, Chief [removed: Human Resources Officer] [added: Procurement Officer,] in January 2019.

Katz (age [removed: 59) joined Jabil in March 2016 and] [added: 60)] was named Executive Vice President, General Counsel and Corporate Secretary in September [removed: 2016.][added: 2016 upon joining Jabil.]

[removed: Mr. Katz] [added: He] transitioned the Corporate Secretary role to a member of his staff in April 2017.

[removed: He] [added: Mr. Katz] earned a Bachelor of Laws (LL.B.) and a Bachelor of Civil Law (B.C.L.) from McGill University.

Mark Mondello (age [removed: 57) has served as] [added: 58) was named] Chief Executive Officer and a member of the Board of Directors since March 2013.

Mr. [removed: Mondello] [added: Creadon first] joined Jabil in [removed: 1992 as a manufacturing supervisor] [added: 1995] and has held [removed: various leadership roles,] [added: roles of increasing leadership,] including [removed: SVP,] [added: Vice President, Global] Business [removed: Development.][added: Operations.]

Daryn Smith (age [removed: 51)] [added: 52)] was named Senior Vice President, Enterprise & Commercial Controller in June 2018 and assumed leadership of Corporate Development and M&A in September 2020.

[removed: Mr. Smith] [added: He] served as Chief Financial Officer of EMS from June 2013 through June 2018.

He holds a [removed: Bachelor’s] [added: bachelor’s] degree in [removed: Accounting] [added: business administration] from the University of [removed: South Florida] [added: Phoenix] and [removed: a] [added: an] MBA from the University of [removed: Florida.][added: Florida’s Warrington School of Business.]

Wilson (age [removed: 56)] [added: 57)] was named Executive Vice President and [removed: CEO] [added: Chief Executive Officer] of Jabil Green Point in [removed: 2017 and assumed responsibility for Consumer Packaging and Corporate Procurement in] September [removed: 2020.][added: 2017.]

Prior to that, [removed: Mr. Wilson] [added: he] was Senior Vice President of the Telecommunications Infrastructure Sector within [removed: Jabil’s] [added: Jabil's] Enterprise & Infrastructure group.

- Access to Advanced Design and Manufacturing Technologies. By utilizing manufacturing service providers, customers gain access to additional advanced technologies in manufacturing processes, as well as to product and

in the manufacturing process.

We also face competition from the manufacturing

| Asia | | | | | | 182 | | |

| Total(1) | | | | | | 250 | | |

To achieve this, we provide training to our leaders on unconscious bias, and in fiscal year 2022, we deployed additional diversity, equity and inclusion (DEI) learning with input from our DEI Council, which includes management and nonmanagement members.

Jabil is committed to being a place where everyone is psychologically and physically safe to be authentically themselves.

With our enterprise-wide priorities of mitigating bias, inclusive leadership and diverse talent development, we are committed to creating a culture of belonging.

In fiscal year 2022, we launched multiple new initiatives to support a more diverse, equitable and inclusive workplace for all.

We launched a Transgender Inclusive Workplace campaign, which included transgender guidelines; a sample plan for employees, their managers and human resources; a self-paced learning on LGBTQ+; and content regarding gender pronoun usage internally.

We are proud of being a top scorer for Disability:IN's Disability Equality Index in 2022, the second year in a row.

Sites around the world have increased their disability inclusion efforts, including teams who have provided sign language courses for employees, conducted assessments on their facilities for accessibility and partnered with nonprofits in their communities to recruit people with disabilities.

By focusing on training leaders in mental health awareness, we are creating the right environment for mental health issues to be recognized and addressed.

Additionally, our Health and Wellbeing programs help to strengthen mental health resilience.

In 2022, we conducted Voice of the Employee Pulse Surveys to measure the impact of these action plans and develop new plans accordingly to promote continued excellence in employee engagement at Jabil.

Cultural Initiatives

Our commitment to our employees’ safety and wellbeing goes beyond physical health to include social, emotional and mental health.

In October 2021, we announced that all global full-time employees receive (2) wellness and (1) community service paid time off (PTO) days each year.

To date, more than 82,000 employees have utilized their wellness days, and 7,000 employees have completed a paid day of community service.

We have also made a commitment to serve our communities, and in September 2021 we pledged to complete one million volunteer hours in 2022.

As of August 31, 2022, Jabil employees and sites have volunteered approximately 500,000 hours in their local communities to help make a difference in the areas of education, empowerment and the environment.

In June 2022, Jabil’s multi-year partnership with the Special Olympics USA Games culminated in more than 200 employees volunteering their time throughout the week of the games.

These efforts, combined with the efforts of Jabil experts (in areas of IT, procurement, logistics and sustainability) who worked behind the scenes with the Special Olympics over a two year period, helped to make the USA Games a success.

Borges (age 54) was named Executive Vice President, Chief Executive Officer, Diversified Manufacturing Services in June 2022.

Mr. Borges joined Jabil in 1993.

Gerald “JJ” Creadon (age 48) was named Executive Vice President, Operations, in March 2022.

Prior to this role, he served as Senior Vice President, Global Operations since March 2019.

He previously served as Senior Vice President, Controller from July 2010.

Mr. Dastoor joined Jabil in 2000.

He holds a

Roberto Ferri (age 57) was named Senior Vice President, Chief Sales and Marketing Officer in 2020 and previously served as Senior Vice President, Sales from July 2015.

Mr. Ferri joined Jabil in 2001 as Vice President, Sales.

He holds a degree in economics and marketing from SDA Bocconi, Italy.

Frederic McCoy (age 54) was named Executive Vice President & Chief Executive Officer, Electronics Manufacturing Services, in December 2021.

He previously he served as Senior Vice President, Global Business Units from October 2017.

Mr. McCoy joined Jabil in 2001.

He holds a Master of Arts in International Affairs and Economics from the School of Advanced International Studies (SAIS) at Johns Hopkins University and a Bachelor of Science in Foreign Service from Georgetown University.

Prior to his current role, he served as Vice President, Procurement & Purchasing Services from October 2014 and held a variety of management positions in Europe, Asia and the US since joining Jabil in 1997.

Mr. McKay holds a bachelor’s from University of Strathclyde.

LaShawne Meriwether (age 48) was named Senior Vice President, Chief Human Resources Officer in June 2022.

As of September 1, 2020, certain customers were realigned within our operating segments.

Our operating segments, which are the reporting segments, continue to consist of the DMS and EMS segments.

Customers within the automotive and transportation and smart home and appliances industries are now presented within the DMS segment.

Prior period disclosures are restated to reflect the realignment.

serve the leading world markets.

| Asia | | | | | | 180 | | |

| Total(1) | | | | | | 238 | | |

Measures we have taken include:

- Employees and visitors are required to undergo temperature checks and complete health screening questionnaires before entering a Jabil facility

- Employees and visitors are provided with masks and required to wear them while on site

- Hand sanitizing stations are located throughout all of our facilities

- Social distancing guidelines have been established

- Business travel has been restricted

- Eligible employees work remotely

- Employees have been provided with masks, hand sanitizer, and educational resources to take home to their families

In addition to these extensive internal measures, we also retooled and ramped-up numerous production facilities to make masks, hand sanitizer, face shields, ventilators and diagnostic products in order to fulfill the urgent needs of our customers.

In order to achieve this, we have trained leaders on unconscious bias to support their capability as inclusive leaders.

In partnership with the University of South Florida's Muma College of Business and the Tampa Bay Lightning, we developed an online certificate program about workplace diversity, equity, and inclusion.

Over 135,000 registrants from fifteen different countries, including the US, which led all nations with the most online registrants, signed-up for this seven-week course.

The program was offered at no cost and consisted of seven two-hour modules.

Over 62,000 registrants completed the program and received a digital certificate and badge to display on social media.

In 2020, we launched a Diversity, Equity & Inclusion (DEI) Council comprised of eight global, cross-functional team members who represent the voice of our employees.

Under the direction of our CEO and diversity leader, this council has unprecedented access to share directly with our executive leadership team their perspectives, ideas and solutions on diversity,

equity and inclusivity opportunities at Jabil while acting and advocating for progress within spheres of internal and external influence.

Approximately 90% of our employees responded to the survey, demonstrating the high level of engagement of our employees.

In addition, scores across a number of factors were consistently high and exceeded industry benchmark.

Mr. Borges served as Executive Vice President, Chief Executive Officer, Healthcare from September 2016 through August 2020.

Mr. Borges joined Jabil in 1993 and has global experience in positions of increasing responsibility in Operations, Business Development, Manufacturing Operations and Supply Chain Management.

Mr. Dastoor joined Jabil in 2000 as Regional Controller – Asia Pacific and was named Controller in June 2004 and Senior Vice President, Controller in July 2010.

Prior to joining Jabil, Mr. Dastoor was a Regional Financial Controller for Inchcape PLC.

Bruce A.

Mr. Johnson joined Jabil in 2015 as Vice President, Human Resources and was promoted to Senior Vice President, Chief Human Resources Officer in 2017.

Prior to joining Jabil, Mr. Johnson was Chief Organizational Effectiveness Officer/Executive Vice President, Human Resources for C&S Wholesale Grocers, Inc., a wholesale distributor of food and grocery items with headquarters in Keene, New Hampshire from 2007 to 2014.

Mr. Johnson also served in senior roles at The Timberland Company, a footwear and apparel designer, retailer and manufacturer in New Hampshire, and E.I. Du Pont De Nemours and Company (Du Pont) in Delaware.

He holds a Bachelor of Arts in History from Middlebury College in Vermont.

Prior to joining Jabil, Mr. Katz served as Executive Vice President, General Counsel and Secretary of SharkNinja, a vacuum and kitchen appliance manufacturer.

He was previously Senior Vice President and General Counsel of Ingersoll Rand plc, a diversified industrial manufacturer, from 2010 to 2015.

Mr. Katz served as Senior Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer of Federal-Mogul Corporation from 2007 to 2010.

From 1999 to 2007 he was General Counsel—EMEA for Delphi Corporation in Paris, France.

He began his career with Milbank, Tweed, Hadley & McCloy working in the Mergers and Acquisitions and General Corporate Group in New York and London.

For the fiscal year ended August 31, [removed: 2021][added: 2022]

[removed: ][added: ]

The aggregate market value of the voting common stock held by non-affiliates of the registrant based on the closing sale price of the Common Stock as reported on the New York Stock Exchange on February 28, [removed: 2021] [added: 2022] was approximately [removed: $5.3] [added: $7.2] billion.

The number of outstanding shares of the registrant’s Common Stock as of the close of business on October [removed: 14, 2021,] [added: 17, 2022,] was [removed: 143,334,977.][added: 134,638,571.]

We have incorporated by reference portions of our Proxy Statement for our annual meeting of shareholders expected to be held on January [removed: 20, 2022] [added: 26, 2023] into Part III hereof, to the extent indicated herein.

[removed: 2021] [added: 2022] FORM 10-K ANNUAL REPORT

| Item 1. | | | [removed: [Business](#id077949108c34c15b89a23b1817f8147_16)] [added: [Business](#i5741abbf48c44d7f8e138c8576b2493d_16)] | | | [removed: [2](#id077949108c34c15b89a23b1817f8147_16)] [added: [2](#i5741abbf48c44d7f8e138c8576b2493d_16)] | | |

| Item 1A. | | | [Risk [removed: Factors](#id077949108c34c15b89a23b1817f8147_22)] [added: Factors](#i5741abbf48c44d7f8e138c8576b2493d_22)] | | | [removed: [11](#id077949108c34c15b89a23b1817f8147_22)] [added: [10](#i5741abbf48c44d7f8e138c8576b2493d_22)] | | |

| Item 1B. | | | [Unresolved Staff [removed: Comments](#id077949108c34c15b89a23b1817f8147_25)] [added: Comments](#i5741abbf48c44d7f8e138c8576b2493d_25)] | | | [removed: [25](#id077949108c34c15b89a23b1817f8147_25)] [added: [23](#i5741abbf48c44d7f8e138c8576b2493d_25)] | | |

| Item 2. | | | [removed: [Properties](#id077949108c34c15b89a23b1817f8147_28)] [added: [Properties](#i5741abbf48c44d7f8e138c8576b2493d_28)] | | | [removed: [25](#id077949108c34c15b89a23b1817f8147_28)] [added: [23](#i5741abbf48c44d7f8e138c8576b2493d_28)] | | |

| Item 3. | | | [Legal [removed: Proceedings](#id077949108c34c15b89a23b1817f8147_31)] [added: Proceedings](#i5741abbf48c44d7f8e138c8576b2493d_31)] | | | [removed: [25](#id077949108c34c15b89a23b1817f8147_31)] [added: [23](#i5741abbf48c44d7f8e138c8576b2493d_31)] | | |

| Item 4. | | | [Mine Safety [removed: Disclosures](#id077949108c34c15b89a23b1817f8147_34)] [added: Disclosures](#i5741abbf48c44d7f8e138c8576b2493d_34)] | | | [removed: [25](#id077949108c34c15b89a23b1817f8147_34)] [added: [23](#i5741abbf48c44d7f8e138c8576b2493d_34)] | | |

| Item 5. | | | [Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity [removed: Securities](#id077949108c34c15b89a23b1817f8147_40)] [added: Securities](#i5741abbf48c44d7f8e138c8576b2493d_40)] | | | [removed: [26](#id077949108c34c15b89a23b1817f8147_40)] [added: [24](#i5741abbf48c44d7f8e138c8576b2493d_40)] | | |

| Item 6. | | | [removed: [\[Reserved\]](#id077949108c34c15b89a23b1817f8147_43)] [added: [\[Reserved\]](#i5741abbf48c44d7f8e138c8576b2493d_43)] | | | [removed: [27](#id077949108c34c15b89a23b1817f8147_43)] [added: [25](#i5741abbf48c44d7f8e138c8576b2493d_43)] | | |

| Item 7. | | | [Management’s Discussion and Analysis of Financial Condition and Results of [removed: Operations](#id077949108c34c15b89a23b1817f8147_46)] [added: Operations](#i5741abbf48c44d7f8e138c8576b2493d_46)] | | | [removed: [28](#id077949108c34c15b89a23b1817f8147_46)] [added: [26](#i5741abbf48c44d7f8e138c8576b2493d_46)] | | |

| Item 7A. | | | [Quantitative and Qualitative Disclosures About Market [removed: Risk](#id077949108c34c15b89a23b1817f8147_85)] [added: Risk](#i5741abbf48c44d7f8e138c8576b2493d_85)] | | | [removed: [42](#id077949108c34c15b89a23b1817f8147_85)] [added: [39](#i5741abbf48c44d7f8e138c8576b2493d_85)] | | |

| Item 8. | | | [Financial Statements and Supplementary [removed: Data](#id077949108c34c15b89a23b1817f8147_88)] [added: Data](#i5741abbf48c44d7f8e138c8576b2493d_88)] | | | [removed: [43](#id077949108c34c15b89a23b1817f8147_88)] [added: [39](#i5741abbf48c44d7f8e138c8576b2493d_88)] | | |

| Item 9. | | | [Changes in and Disagreements With Accountants on Accounting and Financial [removed: Disclosure](#id077949108c34c15b89a23b1817f8147_91)] [added: Disclosure](#i5741abbf48c44d7f8e138c8576b2493d_91)] | | | [removed: [43](#id077949108c34c15b89a23b1817f8147_91)] [added: [39](#i5741abbf48c44d7f8e138c8576b2493d_91)] | | |

| Item 9A. | | | [Controls and [removed: Procedures](#id077949108c34c15b89a23b1817f8147_94)] [added: Procedures](#i5741abbf48c44d7f8e138c8576b2493d_94)] | | | [removed: [43](#id077949108c34c15b89a23b1817f8147_94)] [added: [40](#i5741abbf48c44d7f8e138c8576b2493d_94)] | | |

| Item 9B. | | | [Other [removed: Information](#id077949108c34c15b89a23b1817f8147_97)] [added: Information](#i5741abbf48c44d7f8e138c8576b2493d_97)] | | | [removed: [44](#id077949108c34c15b89a23b1817f8147_97)] [added: [40](#i5741abbf48c44d7f8e138c8576b2493d_97)] | | |

| Item 10. | | | [Directors, Executive Officers and Corporate [removed: Governance](#id077949108c34c15b89a23b1817f8147_103)] [added: Governance](#i5741abbf48c44d7f8e138c8576b2493d_103)] | | | [removed: [45](#id077949108c34c15b89a23b1817f8147_103)] [added: [42](#i5741abbf48c44d7f8e138c8576b2493d_103)] | | |

| Item 11. | | | [Executive [removed: Compensation](#id077949108c34c15b89a23b1817f8147_106)] [added: Compensation](#i5741abbf48c44d7f8e138c8576b2493d_106)] | | | [removed: [45](#id077949108c34c15b89a23b1817f8147_106)] [added: [42](#i5741abbf48c44d7f8e138c8576b2493d_106)] | | |

| Item 12. | | | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder [removed: Matters](#id077949108c34c15b89a23b1817f8147_109)] [added: Matters](#i5741abbf48c44d7f8e138c8576b2493d_109)] | | | [removed: [45](#id077949108c34c15b89a23b1817f8147_109)] [added: [42](#i5741abbf48c44d7f8e138c8576b2493d_109)] | | |

| Item 13. | | | [Certain Relationships and Related Transactions, and Director [removed: Independence](#id077949108c34c15b89a23b1817f8147_112)] [added: Independence](#i5741abbf48c44d7f8e138c8576b2493d_112)] | | | [removed: [45](#id077949108c34c15b89a23b1817f8147_112)] [added: [42](#i5741abbf48c44d7f8e138c8576b2493d_112)] | | |

| Item 14. | | | [Principal Accounting Fees and [removed: Services](#id077949108c34c15b89a23b1817f8147_115)] [added: Services](#i5741abbf48c44d7f8e138c8576b2493d_115)] | | | [removed: [45](#id077949108c34c15b89a23b1817f8147_115)] [added: [42](#i5741abbf48c44d7f8e138c8576b2493d_115)] | | |

| Item 15. | | | [Exhibits and Financial Statement [removed: Schedules](#id077949108c34c15b89a23b1817f8147_121)] [added: Schedules](#i5741abbf48c44d7f8e138c8576b2493d_121)] | | | [removed: [46](#id077949108c34c15b89a23b1817f8147_121)] [added: [43](#i5741abbf48c44d7f8e138c8576b2493d_121)] | | |

| Item 16. | | | [Form 10-K [removed: Summary](#id077949108c34c15b89a23b1817f8147_253)] [added: Summary](#i5741abbf48c44d7f8e138c8576b2493d_244)] | | | [removed: [88](#id077949108c34c15b89a23b1817f8147_253)] [added: [84](#i5741abbf48c44d7f8e138c8576b2493d_244)] | | |

10800 Roosevelt Boulevard North, St. Petersburg, Florida 33716

| [Signatures](#i5741abbf48c44d7f8e138c8576b2493d_247) | | | | | | [85](#i5741abbf48c44d7f8e138c8576b2493d_247) | | |

10560 Dr. Martin Luther King, Jr. Street North, St. Petersburg, Florida 33716

| [Signatures](#id077949108c34c15b89a23b1817f8147_256) | | | | | | [89](#id077949108c34c15b89a23b1817f8147_256) | | |

The table below lists the approximate square footage for our facilities as of August 31, [removed: 2021] [added: 2022] (in millions):

| Asia | | | [removed: 34] [added: 33] | | | | | | | | |

| Americas | | | [removed: 16] [added: 13] | | | | | | | | |

| Europe | | | [removed: 5] [added: 4] | | | | | | | | |

(1)Approximately [removed: 12%] [added: 4%] of our total square footage is not currently used in business operations.

(2)Consists of [removed: 19] [added: 15] million square feet in facilities that we own with the remaining [removed: 36] [added: 35] million square feet in leased facilities.

| Total(1)(2) | | | 50 | | | | | | | | |

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

| Total as of August 31, 2021 (1)(2) | | | 55 | | | | | | | | |

On October [removed: 14, 2021,] [added: 17, 2022,] the closing sales price for our common stock as reported on the New York Stock Exchange was [removed: $62.97.][added: $60.75.]

As of October [removed: 14, 2021,] [added: 17, 2022,] there were [removed: 1,207] [added: 1,162] holders of record of our common stock.

The performance graph and table show a comparison of cumulative total stockholder return, assuming the reinvestment of dividends, from a $100 investment in the common stock of Jabil over the five-year period ending August 31, [removed: 2021,] [added: 2022,] with the cumulative stockholder return of the (1) S&P MidCap 400 Index and (2) peer group which includes Celestica Inc., Flex Ltd., Hon-Hai Precision Industry Co. Ltd, Plexus Corp., and Sanmina Corp.

[removed: ][added: ]

| August 31 | | | [removed: 2016] [added: 2017] | | | | | | [removed: 2017] [added: 2018] | | | | | | [removed: 2018] [added: 2019] | | | | | | [removed: 2019] [added: 2020] | | | | | | [removed: 2020] [added: 2021] | | | | | | [removed: 2021] [added: 2022] | | |

| S&P MidCap 400 Index – Total Returns | | | $ | 100 | | | | | $ | [removed: 112] [added: 120] | | | | | $ | [removed: 135] [added: 112] | | | | | $ | [removed: 126] [added: 117] | | | | | $ | [removed: 132] [added: 169] | | | | | $ | [removed: 190] [added: 152] | |

| Peer Group | | | $ | 100 | | | | | $ | [removed: 157] [added: 73] | | | | | $ | [removed: 114] [added: 56] | | | | | $ | [removed: 89] [added: 65] | | | | | $ | 102 | | | | | $ | [removed: 161] [added: 98] | |

The following table provides information relating to our repurchase of common stock during the three months ended August 31, [removed: 2021:][added: 2022:]

(1)The purchases include amounts that are attributable to [removed: 8,988] [added: 9,627] shares surrendered to us by employees to satisfy, in connection with the vesting of restricted stock units and the exercise of stock options and stock appreciation rights, their tax withholding obligations.

[removed: (2)In] [added: (3)In] September [removed: 2019,] [added: 2022,] our Board of Directors authorized the repurchase of up to [removed: $600 million] [added: $1.0 billion] of our common stock as publicly announced in a press release on September [removed: 24, 2019] [added: 27, 2022] (the [removed: “2020] [added: “2023] Share Repurchase Program”).

[removed: (3)In] [added: (2)In] July 2021, our Board of Directors authorized the repurchase of up to $1.0 billion of our common stock as publicly announced in a press release on July 23, 2021 (the “2022 Share Repurchase Program”).

| Jabil Inc. | | | $ | 100 | | | | | $ | 95 | | | | | $ | 94 | | | | | $ | 113 | | | | | $ | 205 | | | | | $ | 201 | |

| June 1, 2022 - June 30, 2022 | | | 1,819,451 | | | | | | $ | 57.39 | | | | | 1,817,573 | | | | | | $ | 378 | |

| July 1, 2022 - July 31, 2022 | | | 930,339 | | | | | | $ | 52.12 | | | | | 922,590 | | | | | | $ | 330 | |

| August 1, 2022 - August 31, 2022 | | | 1,091,549 | | | | | | $ | 61.59 | | | | | 1,091,549 | | | | | | $ | 263 | |

| Total | | | 3,841,339 | | | | | | $ | 57.31 | | | | | 3,831,712 | | | | | | | | |

Comparison of 5 Year Cumulative Total Return

| Jabil Inc. | | | $ | 100 | | | | | $ | 150 | | | | | $ | 143 | | | | | $ | 141 | | | | | $ | 169 | | | | | $ | 307 | |

| June 1, 2021 - June 30, 2021 | | | 1,034,236 | | | | | | $ | 56.75 | | | | | 1,034,236 | | | | | | $ | 66 | |

| July 1, 2021 - July 31, 2021 | | | 900,245 | | | | | | $ | 56.31 | | | | | 891,375 | | | | | | $ | 1,015 | |

| August 1, 2021 - August 31, 2021 | | | 959,938 | | | | | | $ | 59.72 | | | | | 959,820 | | | | | | $ | 958 | |

| Total | | | 2,894,419 | | | | | | $ | 57.60 | | | | | 2,885,431 | | | | | | | | |

No authorization remains under the 2020 Share Repurchase Program as of August 31, 2021.

We carried out an evaluation required by Rules 13a-15 and 15d-15 under the Exchange Act (the “Evaluation”), under the supervision and with the participation of our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), of the effectiveness of our disclosure controls and procedures as defined in Rules 13a-15 and 15d-15 under the Exchange Act as of August 31, [removed: 2021.][added: 2022.]

We assessed the effectiveness of our internal control over financial reporting as of August 31, [removed: 2021.][added: 2022.]

Management’s report on internal control over financial reporting as of August 31, [removed: 2021] [added: 2022] is incorporated herein at Item 15.

Ernst & Young LLP, our independent registered public accounting firm, issued an audit report on the effectiveness of our internal control over financial reporting as of August 31, [removed: 2021,] [added: 2022,] which is incorporated herein at Item 15.

Notwithstanding the foregoing limitations on the effectiveness of controls, we have reached the conclusions set forth in Management’s report on internal control over financial reporting as of August 31, [removed: 2021.][added: 2022.]

For our fiscal quarter ended August 31, [removed: 2021,] [added: 2022,] we did not identify any modifications to our internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

*Amended and Restated Bylaws*

On October 20, 2022, the Board of Directors approved and adopted amended and restated bylaws (the “Amended and Restated Bylaws”), which became effective the same day.

Among other things, the amendments effected by the Amended and Restated Bylaws:

- Implement proxy access to permit a stockholder, or a group of up to twenty stockholders, owning at least 3% of the outstanding shares of Jabil’s common stock continuously for at least three years, to nominate and include in the Jabil’s annual meeting proxy materials director nominees constituting up to the greater of (a) two directors or (b) 20% of the Board of Directors, subject to certain limitations and provided that the stockholders and nominees satisfy the requirements specified in the Amended and Restated Bylaws.

- Address matters relating to the Securities and Exchange Commission’s adoption of the universal proxy rules in Rule 14a-19 under the Exchange Act.

- Clarify and enhance the procedural mechanics and disclosure requirements of Jabil’s advance notice bylaws, including by requiring:

◦additional background information and disclosures regarding proposing stockholders, proposed nominees and business, and other persons related to a stockholder’s solicitation of proxies;

◦any stockholder submitting a notice to make a representation as to whether such stockholder intends to solicit proxies with respect to such nominations or proposals and to make a representation that immediately following such solicitation the stockholder will provide Jabil evidence of such solicitation;

◦that a submitting stockholder limit the number of nominees submitted for any annual meeting of stockholders to no more than the number of directors to be elected at such meeting; and

◦that submitting stockholders or their representatives appear at the stockholder meeting to present a nomination or other business.

- Update various provisions to reflect recent amendments to the Delaware General Corporation Law, including clarifying the adjournment procedures for virtual meetings of stockholders and eliminating the requirement that the list of stockholders be open to examination at meetings of stockholders.

- Update the number of directors required to request a special meeting of the Board of Directors.

- Update the list of Jabil’s officers to clarify that the Board of Directors may, but is not required to, appoint a chief operating officer.

- Incorporate the use of gender-neutral pronouns and change the title “chairman” to “chair” throughout.

The Amended and Restated Bylaws also include various conforming, technical, and other non-substantive changes.

The foregoing description is a summary and is qualified in its entirety by reference to the full text of the Amended and Restated Bylaws, a copy of which is attached as Exhibit 3.2 hereto and is incorporated by reference herein.

None.

The other information required by this item is incorporated by reference to the information set forth under the captions “Election of Directors”, “Beneficial Ownership – Delinquent Section 16(a) Reports”, “Corporate Governance”, “Board of Directors” and “Audit Committee Matters” in our Proxy Statement for the Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end of our fiscal year ended August 31, [removed: 2021] [added: 2022] (“Proxy Statement”).

| [removed: 3.2] [added: 3.2*] | | | | | | | | | [Registrant’s Bylaws, as [removed: amended.](https://www.sec.gov/Archives/edgar/data/898293/000119312517219901/d387238dex32.htm)] [added: amended.](https://www.sec.gov/Archives/edgar/data/898293/000119312522268383/d389587dex32.htm)] | | | | | | [removed: 10-Q] | | | | | | [removed: 3.2] | | | | | | | | | [removed: 5/31/2017] | | | | | |

| [removed: 4.5] [added: 4.4] | | | | | | | | | [Officers’ Certificate, dated as of January 17, 2018, establishing the 3.950% Senior Notes due 2028.](https://www.sec.gov/Archives/edgar/data/898293/000119312518012295/d460944dex41.htm) | | | | | | 8-K | | | | | | 4.1 | | | | | | 1/17/2018 | | | | | | | | |

| [removed: 4.6] [added: 4.5] | | | | | | | | | [Officers’ Certificate, dated as of January 15, 2020, establishing the 3.600% Senior Notes due 2030.](https://www.sec.gov/Archives/edgar/data/898293/000119312520008126/d870866dex41.htm) | | | | | | 8-K | | | | | | 4.1 | | | | | | 1/15/2020 | | | | | | | | |

| [removed: 4.7] [added: 4.6] | | | | | | | | | [Officers’ Certificate, dated as of July 13, 2020, establishing the 3.000% Senior Notes due 2031.](https://www.sec.gov/Archives/edgar/data/898293/000119312520191916/d924129dex41.htm) | | | | | | 8-K | | | | | | 4.1 | | | | | | | | | | | | 7/13/2020 | | |

| [removed: 4.8] [added: 4.7] | | | | | | | | | [Officers’ Certificate, dated as of April 14, 2021, establishing the 1.700% Senior Notes due [removed: 2026](https://www.sec.gov/Archives/edgar/data/898293/000119312521116248/d129266dex41.htm).] [added: 2026.](https://www.sec.gov/Archives/edgar/data/898293/000119312521116248/d129266dex41.htm)] | | | | | | 8-K | | | | | | 4.1 | | | | | | | | | | | | 4/14/2021 | | |

| [removed: 4.9*] [added: 4.9] | | | | | | | | | [Description of Jabil Securities.](https://www.sec.gov/Archives/edgar/data/898293/000119312521305429/d176971dex49.htm) | | | | | | [added: 10-K] | | | | | | [added: 4.9] | | | | | | | | | | | | [added: 8/31/2021] | | |

| [removed: 10.3a] [added: 10.3a†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU EPS - Executive - [removed: EU)](https://www.sec.gov/Archives/edgar/data/898293/000119312519005404/d663336dex101.htm)] [added: EU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex101.htm)] | | | | | | 10-Q | | | | | | 10.1 | | | | | | | | | | | | [removed: 11/30/2018] [added: 11/30/2019] | | |

| [removed: 10.3b] [added: 10.3b†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU EPS - Executive - [removed: Non-EU)](https://www.sec.gov/Archives/edgar/data/898293/000119312519005404/d663336dex102.htm)] [added: Non-EU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex102.htm)] | | | | | | 10-Q | | | | | | 10.2 | | | | | | | | | | | | [removed: 11/30/2018] [added: 11/30/2019] | | |

| [removed: 10.3c] [added: 10.3c†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU TSR - [removed: ONEU).](https://www.sec.gov/Archives/edgar/data/898293/000119312519005404/d663336dex103.htm)] [added: ONEU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex103.htm)] | | | | | | 10-Q | | | | | | 10.3 | | | | | | | | | | | | [removed: 11/30/2018] [added: 11/30/2019] | | |

| [removed: 10.3d] [added: 10.3d†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU TSR - [removed: OEU).](https://www.sec.gov/Archives/edgar/data/898293/000119312519005404/d663336dex104.htm)] [added: OEU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex104.htm)] | | | | | | 10-Q | | | | | | 10.4 | | | | | | | | | | | | [removed: 11/30/2018] [added: 11/30/2019] | | |

| [removed: 10.3e] [added: 10.3e†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-ONEU)](https://www.sec.gov/Archives/edgar/data/898293/000119312519005404/d663336dex105.htm)] [added: (TBRSU-ONEU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex105.htm)] | | | | | | 10-Q | | | | | | 10.5 | | | | | | | | | | | | [removed: 11/30/2018] [added: 11/30/2019] | | |

| [removed: 10.3f] [added: 10.3f†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-OEU)](https://www.sec.gov/Archives/edgar/data/898293/000119312519005404/d663336dex106.htm)] [added: (TBRSU-OEU)](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex106.htm).] | | | | | | 10-Q | | | | | | 10.6 | | | | | | | | | | | | [removed: 11/30/2018] [added: 11/30/2019] | | |

| [removed: 10.3g] [added: 10.3g†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-DIR)](https://www.sec.gov/Archives/edgar/data/898293/000119312519005404/d663336dex107.htm)] [added: (TBRSU-DIR)](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex107.htm).] | | | | | | 10-Q | | | | | | 10.7 | | | | | | | | | | | | [removed: 11/30/2018] [added: 11/30/2019] | | |

| [removed: 10.3h] [added: 10.5g†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU EPS [removed: - Executive-EU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex101.htm)] [added: – Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312522004029/d217432dex101.htm)] | | | | | | 10-Q | | | | | | 10.1 | | | | | | | | | | | | [removed: 11/30/2019] [added: 11/30/2021] | | |

| [removed: 10.3i] [added: 10.5d†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU EPS [removed: - Executive - Non-EU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex102.htm)] [added: – Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex105.htm)] | | | | | | 10-Q | | | | | | [removed: 10.2] [added: 10.5] | | | | | | | | | | | | [removed: 11/30/2019] [added: 2/28/2021] | | |

| [removed: 10.3j] [added: 10.5c†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU TSR [removed: - ONEU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex103.htm)] [added: – Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex104.htm)] | | | | | | 10-Q | | | | | | [removed: 10.3] [added: 10.4] | | | | | | | | | | | | [removed: 11/30/2019] [added: 2/28/2021] | | |

| [removed: 10.3k] [added: 10.5h†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU TSR [removed: - OEU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex104.htm)] [added: – Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312522004029/d217432dex102.htm)] | | | | | | 10-Q | | | | | | [removed: 10.4] [added: 10.2] | | | | | | | | | | | | [removed: 11/30/2019] [added: 11/30/2021] | | |

| [removed: 10.3l] [added: 10.5k†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-ONEU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex105.htm)] [added: (TBRSU Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312522004029/d217432dex105.htm)] | | | | | | 10-Q | | | | | | 10.5 | | | | | | | | | | | | [removed: 11/30/2019] [added: 11/30/2021] | | |

| [removed: 10.3m] [added: 10.5a†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-OEU).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex106.htm)] [added: (TBRSU-Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex102.htm)] | | | | | | 10-Q | | | | | | [removed: 10.6] [added: 10.2] | | | | | | | | | | | | [removed: 11/30/2019] [added: 2/28/2021] | | |

| [removed: 10.3n] [added: 10.5b†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-DIR).](https://www.sec.gov/Archives/edgar/data/898293/000119312520001434/d852870dex107.htm)] [added: (TBRSU-Non-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex103.htm)] | | | | | | 10-Q | | | | | | [removed: 10.7] [added: 10.3] | | | | | | | | | | | | [removed: 11/30/2019] [added: 2/28/2021] | | |

| [removed: 10.5a] [added: 10.5e†] | | | | | | | | | [Form of Jabil Inc. [added: Two-Year Cliff] Restricted Stock Unit Award Agreement [removed: (TBRSU-Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex102.htm)] [added: (TBRSU – Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex106.htm)] | | | | | | 10-Q | | | | | | [removed: 10.2] [added: 10.6] | | | | | | | | | | | | 2/28/2021 | | |

| [removed: 10.5b] [added: 10.5i†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-Non-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex103.htm)] [added: (TBRSU-NON-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312522004029/d217432dex103.htm)] | | | | | | 10-Q | | | | | | 10.3 | | | | | | | | | | | | [removed: 2/28/2021] [added: 11/30/2021] | | |

| [removed: 10.5c] [added: 10.5f†] | | | | | | | | | [Form of Jabil Inc. [added: Two-Year] Restricted Stock Unit Award Agreement (PBRSU [removed: TSR – Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex104.htm)] [added: EPS-Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex107.htm)] | | | | | | 10-Q | | | | | | [removed: 10.4] [added: 10.7] | | | | | | | | | | | | 2/28/2021 | | |

| [removed: 10.5d] [added: 10.5j†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (PBRSU EPS – Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex105.htm)] [added: (TBRSU-Cash- Settled - NON-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312522004029/d217432dex104.htm)] | | | | | | 10-Q | | | | | | [removed: 10.5] [added: 10.4] | | | | | | | | | | | | [removed: 2/28/2021] [added: 11/30/2021] | | |

| [removed: 10.5e] [added: 10.5l†] | | | | | | | | | [Form of Jabil Inc. Two-Year Cliff Restricted Stock Unit Award Agreement (TBRSU – [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex106.htm)] [added: Global Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312522186715/d193672dex101.htm)] | | | | | | 10-Q | | | | | | [removed: 10.6] [added: 10.1] | | | | | | | | | | | | [removed: 2/28/2021] [added: 5/31/2022] | | |

| 21.1* | | | | | | | | | [List of [removed: Subsidiaries.](https://www.sec.gov/Archives/edgar/data/898293/000119312521305429/d176971dex211.htm)] [added: Subsidiaries.](https://www.sec.gov/Archives/edgar/data/898293/000119312522268383/d389587dex211.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 23.1* | | | | | | | | | [Consent of Independent Registered Public Accounting [removed: Firm.](https://www.sec.gov/Archives/edgar/data/898293/000119312521305429/d176971dex231.htm)] [added: Firm.](https://www.sec.gov/Archives/edgar/data/898293/000119312522268383/d389587dex231.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 24.1* | | | | | | | | | [Power of Attorney (See Signature [removed: page).](#id077949108c34c15b89a23b1817f8147_259)] [added: page).](#i5741abbf48c44d7f8e138c8576b2493d_250)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 31.1* | | | | | | | | | [Rule 13a-14(a)/15d-14(a) Certification by the Chief Executive Officer of the [removed: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000119312521305429/d176971dex311.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000119312522268383/d389587dex311.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 31.2* | | | | | | | | | [Rule 13a-14(a)/15d-14(a) Certification by the Chief Financial Officer of the [removed: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000119312521305429/d176971dex312.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000119312522268383/d389587dex312.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 32.1* | | | | | | | | | [Section 1350 Certification by the Chief Executive Officer of the [removed: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000119312521305429/d176971dex321.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000119312522268383/d389587dex321.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 32.2* | | | | | | | | | [Section 1350 Certification by the Chief Financial Officer of the [removed: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000119312521305429/d176971dex322.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000119312522268383/d389587dex322.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 101 | | | | | | | | | The following financial information from Jabil’s Annual Report on Form 10-K for the fiscal period ended August 31, [removed: 2021,] [added: 2022,] formatted in Inline XBRL: (i) Consolidated Balance Sheets as of August 31, [removed: 2021] [added: 2022] and August 31, [removed: 2020;] [added: 2021;] (ii) Consolidated Statement of Operations for the fiscal years ended August 31, [removed: 2021, 2020] [added: 2022, 2021] and [removed: 2019;] [added: 2020;] (iii) Consolidated Statements of Comprehensive Income for the fiscal years ended August 31, [removed: 2021, 2020] [added: 2022, 2021] and [removed: 2019;] [added: 2020;] (iv) Consolidated Statements of Comprehensive Stockholders’ Equity for the fiscal years ended August 31, [removed: 2021, 2020] [added: 2022, 2021] and [removed: 2019;] [added: 2020;] (v) Consolidated Statements of Cash Flows for the fiscal years ended August 31, [removed: 2021, 2020] [added: 2022, 2021] and [removed: 2019;] [added: 2020;] and (vi) Notes to Consolidated Financial Statements. | | | | | | | | | | | | | | | | | | | | | | | | | | |

| [Management’s Report on Internal Control over Financial [removed: Reporting](#id077949108c34c15b89a23b1817f8147_127)] [added: Reporting](#i5741abbf48c44d7f8e138c8576b2493d_127)] | | | [removed: [50](#id077949108c34c15b89a23b1817f8147_127)] [added: [47](#i5741abbf48c44d7f8e138c8576b2493d_127)] | | |

| [Reports of Independent Registered Public Accounting Firm (Ernst & Young [removed: LLP)](#id077949108c34c15b89a23b1817f8147_130)] [added: LLP; PCAOB ID](#i5741abbf48c44d7f8e138c8576b2493d_130)[:](#i5741abbf48c44d7f8e138c8576b2493d_130) 42)] | | | [removed: [51](#id077949108c34c15b89a23b1817f8147_130)] [added: [48](#i5741abbf48c44d7f8e138c8576b2493d_130)] | | |

| [Consolidated Balance Sheets [removed: –](#id077949108c34c15b89a23b1817f8147_136)] [added: –](#i5741abbf48c44d7f8e138c8576b2493d_136)] August 31, [added: 2022 [and](#i5741abbf48c44d7f8e138c8576b2493d_136)] 2021 [removed: [and](#id077949108c34c15b89a23b1817f8147_136) 2020] | | | [removed: [54](#id077949108c34c15b89a23b1817f8147_136)] [added: [51](#i5741abbf48c44d7f8e138c8576b2493d_136)] | | |

| [Consolidated Statements of Operations – Fiscal years [removed: ended](#id077949108c34c15b89a23b1817f8147_142)] [added: ended](#i5741abbf48c44d7f8e138c8576b2493d_139)] August 31, [removed: 2021[,](#id077949108c34c15b89a23b1817f8147_142) 2020, [and](#id077949108c34c15b89a23b1817f8147_142) 2019] [added: 2022[,](#i5741abbf48c44d7f8e138c8576b2493d_139) 2021, [a](#i5741abbf48c44d7f8e138c8576b2493d_139)[nd](#i5741abbf48c44d7f8e138c8576b2493d_139) 2020] | | | [removed: [55](#id077949108c34c15b89a23b1817f8147_142)] [added: [52](#i5741abbf48c44d7f8e138c8576b2493d_139)] | | |

| [Consolidated Statements of Comprehensive Income – Fiscal years [removed: ended](#id077949108c34c15b89a23b1817f8147_145)] [added: ended](#i5741abbf48c44d7f8e138c8576b2493d_142)] August 31, [removed: 2021[,](#id077949108c34c15b89a23b1817f8147_142) 2020, [and](#id077949108c34c15b89a23b1817f8147_142) 2019] [added: 2022[,](#i5741abbf48c44d7f8e138c8576b2493d_139) 2021, [](#i5741abbf48c44d7f8e138c8576b2493d_139)[and](#i5741abbf48c44d7f8e138c8576b2493d_139) 2020] | | | [removed: [56](#id077949108c34c15b89a23b1817f8147_145)] [added: [53](#i5741abbf48c44d7f8e138c8576b2493d_142)] | | |

| [Consolidated Statements of Stockholders’ Equity – Fiscal years [removed: ended](#id077949108c34c15b89a23b1817f8147_148)] [added: ended](#i5741abbf48c44d7f8e138c8576b2493d_145)] August 31, [removed: 2021[,](#id077949108c34c15b89a23b1817f8147_142) 2020, [and](#id077949108c34c15b89a23b1817f8147_142) 2019] [added: 2022[,](#i5741abbf48c44d7f8e138c8576b2493d_139) 2021, [an](#i5741abbf48c44d7f8e138c8576b2493d_139)[d](#i5741abbf48c44d7f8e138c8576b2493d_139) 2020] | | | [removed: [57](#id077949108c34c15b89a23b1817f8147_148)] [added: [54](#i5741abbf48c44d7f8e138c8576b2493d_145)] | | |

| [Consolidated Statements of Cash Flows – Fiscal years [removed: ended](#id077949108c34c15b89a23b1817f8147_151)] [added: ended](#i5741abbf48c44d7f8e138c8576b2493d_148)] August 31, [removed: 2021[,](#id077949108c34c15b89a23b1817f8147_142) 2020, [and](#id077949108c34c15b89a23b1817f8147_142) 2019] [added: 2022[,](#i5741abbf48c44d7f8e138c8576b2493d_139) 2021, [a](#i5741abbf48c44d7f8e138c8576b2493d_139)[nd](#i5741abbf48c44d7f8e138c8576b2493d_139) 2020] | | | [removed: [58](#id077949108c34c15b89a23b1817f8147_151)] [added: [55](#i5741abbf48c44d7f8e138c8576b2493d_148)] | | |

| 4.3 | | | | | | | | | [Form of 4.250% Registered Senior Notes due 2027 (included as Exhibit A to the Officers’ Certificate filed herewith as Exhibit 4.8).](https://www.sec.gov/Archives/edgar/data/898293/000119312522140579/d339531dex41.htm) | | | | | | 8-K | | | | | | 4.1 | | | | | | 5/4/2022 | | | | | | | | |

| 4.8 | | | | | | | | | [Officers’ Certificate, dated as of May 4, 2022, establishing the 4.250% Senior Notes due 2027.](https://www.sec.gov/Archives/edgar/data/898293/000119312522140579/d339531dex41.htm) | | | | | | 8-K | | | | | | 4.1 | | | | | | | | | | | | 5/4/2022 | | |

| 10.7 | | | | | | | | | [Underwriting Agreement, dated as of April 20, 2022, among the Company, BNP Paribas Securities Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and SMBC Nikko Securities America, Inc., as representatives of the several underwriters listed therein.](https://www.sec.gov/Archives/edgar/data/898293/000119312522140579/d339531dex11.htm) | | | | | | 8-K | | | | | | 1.1 | | | | | | | | | | | | 5/4/2022 | | |

| | | | | | | | | | Certain portions of this exhibit have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. Jabil agrees to furnish supplementally an unredacted copy of the exhibit to the Securities and Exchange Commission upon request. | | | | | | | | | | | | | | | | | | | | | | | | | | |

To the Stockholders and the Board of Directors of Jabil Inc.

| Loss on debt extinguishment | | | 4 | | | | | | — | | | | | | — | | |

| Net income | | | $ | 996 | | | | | $ | 698 | | | | | $ | 57 | |

contract, and iii) are expected to be recovered through revenue generated from the contract.

The Company is responsible for procuring certain components from suppliers for the manufacturing of finished goods at the direction of certain customers.

If the Company does not obtain control of these components before they are transferred to the customer, the Company accounts for revenue associated with such components on a net basis.

Revenue associated with components procured directly from customers is accounted for on a net basis if the components do not constitute a distinct good or service from the customer.

| A | | | $ | 700 | | | | | | | | Uncommitted | | | | | | December 5, 2022 | | | (2) | | |

| Property, plant and equipment | | | 9,578 | | | | | | 9,108 | | |

| Property, plant and equipment, net | | | $ | 3,954 | | | | | $ | 4,075 | |

| | | | 2022 | | | | | | 2021 | | |

| | | | 2022 | | | | | | 2021 | | |

| 2023 | | | $ | 130 | | | | | $ | 126 | | | | | $ | 256 | |

| 2024 | | | 102 | | | | | | 46 | | | | | | 148 | | |

| 2027 | | | 43 | | | | | | 6 | | | | | | 49 | | |

| Thereafter | | | 174 | | | | | | 14 | | | | | | 188 | | |

Therefore, no amounts related to

| Balance as of August 31, 2022 | | | $ | 79 | | | | | $ | 625 | | | | | $ | 704 | |

| 2027 | | | 12 | | |

| Total | | | $ | 107 | |

| 4.250% Senior Notes(1)(2)(3) | | | May 15, 2027 | | | | | | 493 | | | | | | — | | |

(3)On May 4, 2022, the Company issued $500 million of registered 4.250% Senior Notes due 2027 (the “Green Bonds” or the “4.250% Senior Notes”).

On May 31, 2022, the net proceeds from the offering were used to redeem the Company’s 4.700% Senior Notes due in 2022 and pay the applicable “make-whole” premium and accrued interest.

In addition, the Company intends to allocate an amount equal to the net proceeds from this offering to finance or refinance eligible expenditures under the Company’s new green financing framework.

| 2026 | | | 497 | | |

| 2027 | | | 493 | | |

| Thereafter | | | 1,585 | | |

| Total | | | $ | 2,875 | |

| | | | August 31, 2022 | | | | | | August 31, 2021 | | |

| | | | 2022 | | | | | | 2021 | | |

| Settlements paid from plan assets(1) | | | (28) | | | | | | (44) | | |

| Plan participants’ contributions | | | 21 | | | | | | 25 | | |

| Accrued benefit asset, noncurrent | | | $ | 28 | | | | | $ | — | |

| | | | August 31, 2022 | | | | | | August 31, 2021 | | |

(1)Service cost is recognized in cost of revenue in the Condensed Consolidated Statement of Operations.

(2)Components are recognized in other expense in the Condensed Consolidated Statement of Operations.

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

| 4.3 | | | | | | | | | [Form of 4.700% Registered Senior Notes issued on August 3, 2012](https://www.sec.gov/Archives/edgar/data/898293/000119312512337903/d391683dex41.htm) | | | | | | 8-K | | | | | | 4.1 | | | | | | 8/6/2012 | | | | | | | | |

| 4.4 | | | | | | | | | [Officers’ Certificate of the Registrant pursuant to the Indenture, dated August 3, 2012.](https://www.sec.gov/Archives/edgar/data/898293/000119312512337903/d391683dex43.htm) | | | | | | 8-K | | | | | | 4.3 | | | | | | 8/6/2012 | | | | | | | | |

| 10.5f | | | | | | | | | [Form of Jabil Inc. Two-Year Restricted Stock Unit Award Agreement (PBRSU EPS-Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312521104662/d167671dex107.htm) | | | | | | 10-Q | | | | | | 10.7 | | | | | | | | | | | | 2/28/2021 | | |

| 10.7 | | | | | | | | | [Amendment No. 1 to Credit Agreement dated as of April 28, 2021 among Jabil Inc.; the lenders named therein; Citibank, N.A., as administrative agent; Sumitomo Mitsui Banking Corporation and Citibank, N.A., as sustainability agents; JPMorgan Chase Bank, N.A. and Bank of America, N.A., as co-syndication agents; BNP Paribas, Mizuho Bank, Ltd., MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation and U.S. Bank National Association, as documentation agents; and Citibank, N.A., JPMorgan Chase Bank, N.A., BofA Securities, Inc., BNP Paribas Securities Corp., Mizuho Bank, Ltd., MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation and U.S. Bank National Association, as joint lead arrangers and joint bookrunners](https://www.sec.gov/Archives/edgar/data/898293/000119312521150094/d173875dex101.htm). | | | | | | 8-K | | | | | | 10.1 | | | | | | | | | | | | 4/28/2021 | | |

October 22, 2021

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

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

| Cumulative effect adjustment for adoption of new accounting standards | | | — | | | | | | — | | | | | | 41 | | |

| Declared dividends to noncontrolling interests | | | (3) | | | | | | (2) | | | | | | (1) | | |

| Cash receipts on sold receivables | | | — | | | | | | — | | | | | | 97 | | |

Following the adoption of Accounting Standards Update No. 2016-02 (“ASU 2016-02”), Leases (Topic 842) on September 1, 2019, the Company elected to apply the package of practical expedients, which among other things, allows entities to maintain the historical lease classification for existing leases.

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

recognition criteria, transfer of control occurs at a point in time which generally occurs upon delivery and transfer of risk and title to the customer.

tax rate is recognized in income in the period that includes the enactment date of the rate change.

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

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

| A | | | $ | 600 | | | | | | | | Uncommitted | | | | | | December 5, 2021 | | | (2) | | |

| K | | | 100 | | | CHF | | | | | | Uncommitted | | | | | | December 5, 2021 | | | (2) | | |

(7)The program will be automatically extended through August 21, 2023 unless either party provides 30 days notice of termination.

(8)The program will be automatically extended through December 5, 2024 unless either party provides 30 days notice of termination.

(9)The program will be automatically extended through April 11, 2025 unless either party provides 30 days notice of termination.

| | | | 9,108 | | | | | | 8,191 | | |

| | | | $ | 4,075 | | | | | $ | 3,665 | |

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

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

| 2022 | | | $ | 118 | | | | | $ | 101 | | | | | $ | 219 | |

| Thereafter | | | 109 | | | | | | 18 | | | | | | 127 | | |

| Balance as of August 31, 2019 | | | $ | 74 | | | | | $ | 548 | | | | | $ | 622 | |

| Balance as of August 31, 2020 | | | 74 | | | | | | 623 | | | | | | 697 | | |

| 2024 | | | 15 | | |

| Total | | | $ | 131 | |

| 2023 | | | 799 | | |

| 2026 | | | 496 | | |

| Thereafter | | | 1,583 | | |

| Total | | | $ | 2,878 | |

interest coverage covenants.

The special purpose entity in the foreign asset-backed securitization program is a separate bankruptcy-remote entity that is winding down as a result of the termination of the foreign-asset backed securitization program.

The Company is deemed the primary beneficiary of this special purpose entity as the Company has both the power to direct the activities of the entity that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive the benefits that could potentially be significant to the entity from the transfer of the trade accounts receivable into the special purpose entity.

Accordingly, the special purpose entity associated with the foreign asset-backed securitization program is included in the Company’s Consolidated Financial Statements.

| [added: Date: October 25, 2022] | | | By: | | | /s/ MARK T. MONDELLO | | |

| By: | | | /s/ [removed: TIMOTHY L. MAIN] [added: THOMAS A. SANSONE] | | | | | | [added: Vice] Chairman of the Board of Directors | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| By: | | | /s/ MARK T. MONDELLO | | | | | | [added: Chairman of the Board of Directors and] Chief Executive Officer [removed: and Director] (Principal Executive Officer) | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| By: | | | /s/ MICHAEL DASTOOR | | | | | | Chief Financial Officer (Principal Financial and Accounting Officer) | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| By: | | | /s/ ANOUSHEH ANSARI | | | | | | Director | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| By: | | | /s/ MARTHA F. BROOKS | | | | | | Director | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| By: | | | /s/ CHRISTOPHER S. HOLLAND | | | | | | Director | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| By: | | | /s/ JOHN C. PLANT | | | | | | Director | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| By: | | | /s/ STEVEN A. RAYMUND | | | | | | [added: Lead Independent] Director | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| By: | | | /s/ DAVID M. STOUT | | | | | | Director | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| By: | | | /s/ KATHLEEN A. WALTERS | | | | | | Director | | | October [removed: 22, 2021] [added: 25, 2022] | | |

| Fiscal year ended August 31, [removed: 2019] [added: 2022] | | | | | | $ | [removed: 61] [added: 85] | | | | | $ | [removed: 34] [added: 23] | | | | | $ | — | | | | | $ | [removed: (25)] [added: (26)] | | | | | $ | [removed: 70] [added: 82] | |

| Fiscal year ended August 31, [removed: 2019] [added: 2022] | | | | | | $ | [removed: 223] [added: 353] | | | | | $ | [removed: 23] [added: 19] | | | | | $ | [removed: 59] [added: (31)] | | | | | $ | [removed: (17)] [added: (60)] | | | | | $ | [removed: 288] [added: 281] | |

Date: October 22, 2021

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

| | | | Timothy L. Main | | | | | | | | | | | |

| By: | | | /s/ THOMAS A. SANSONE | | | | | | Vice Chairman of the Board of Directors | | | October 22, 2021 | | |