Jabil (JBL) 10-K risk factor changes: FY2025 vs FY2024

Problems suffered by any of these common carriers, including natural disaster, pandemic, labor problems, increased energy prices, or criminal activity, [removed: has] [added: have] and could result in shipping delays for products or materials, increased costs, or other supply chain disruptions, and could therefore have a negative impact on our ability to receive products from suppliers and deliver products to customers, resulting in a material adverse effect on our operations.

In addition, our operations in China are governed by Chinese laws, [removed: rule,] [added: rules,] and regulations, some of which are relatively new.

Any delay [added: or disruption] in the [removed: implementation] [added: operation] of these information systems could result in material adverse consequences, including disruption of operations, loss of information, and unanticipated increases in costs.

We monitor and mitigate our exposure to cybersecurity issues and modify our systems when warranted, and we have implemented [removed: certain] business continuity items including data backups at alternative [removed: sites.][added: sites, multi-factor authentication, regular risk assessment, and other cybersecurity safeguards.]

In addition, because we securitize certain of our accounts receivable, our securitization [removed: programs] [added: program] could be negatively affected by customer financial difficulty affecting the recovery of a significant amount of receivables.

Our effective tax rate and cash tax liability could be adversely impacted by these rules [removed: beginning] in [removed: fiscal year 2025, with the full impact occurring in subsequent] [added: future] years.

- impact certain financial covenants that we are subject to in connection with our debt and asset-backed securitization [removed: programs.][added: program.]

We pay interest on outstanding borrowings under our revolving credit facilities and certain other [removed: long term] debt obligations at interest rates that fluctuate based upon changes in various base interest rates.

Many governments, regulators, investors, employees, customers and other stakeholders are increasingly focused on environmental, social and governance considerations relating to businesses, including climate change and greenhouse gas emissions, [added: and] human and civil [removed: rights, and diversity, equity, and inclusion.][added: rights.]

Any failure, or perceived failure, to achieve our goals, further our initiatives, adhere to our public statements, comply with federal, state, or international environmental, social, and governance laws and regulations, or meet evolving and [removed: varied] [added: sometimes conflicting] shareholder expectations and standards could result in legal and regulatory proceedings against us and materially adversely affect our business, reputation, results of operations, financial condition, and stock price.

There are significant risks involved in our efforts to keep pace with technological developments and no assurance can be provided that the usage of such technology will enhance our business.

Beginning in February 2025, the U.S. implemented tariffs on a variety of countries and commodities, including, among others, tariffs on aluminum and steel derivative products, imports of certain Canadian and Mexican goods, and imports of Chinese goods, universal tariffs on imports from most countries, and reciprocal tariffs on select countries.

In response, certain countries have imposed, or are considering, retaliatory tariffs on U.S. exports.

The global tariff landscape continues to shift rapidly, with changes impacting businesses and markets around the world.

These increased tariffs have impacted and may continue to impact end, customer demand.

If we are unable to fully pass on these costs, our operating results and cash flows could be adversely impacted.

The increased use of artificial intelligence (“AI”) technologies in our services and operations may exacerbate these risks.

In addition, if any of our contractors, consultants, vendors or service providers use any third-party AI-powered software or other tools in connection with our business or the services they provide to us, it may lead to the inadvertent disclosure of our confidential information through its incorporation into publicly available training sets, which may impact our ability to realize the benefit of, or adequately maintain or protect, our confidential information, harming our competitive position and business.

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

[removed: On December 29, 2023 (“the Closing Date”),] [added: Ltd., a Singapore private limited company (“Singapore Seller”),] we [removed: completed the sale] [added: agreed to sell to an affiliate] of [removed: our] [added: BYD Electronic (International) Co. Ltd., a Hong Kong limited liability company (“Purchaser” or “BYDE”), the Singapore Seller’s] product manufacturing business in Chengdu, including its supporting component manufacturing in [removed: Wuxi] [added: Wuxi,] (the “Mobility [removed: Business”) to an affiliate of BYD Electronic (International) Co. Ltd. (“BYDE”)] [added: Business”),] for [removed: pre-tax] cash [removed: proceeds] [added: consideration] of approximately $2.2 billion, subject to certain [removed: post-closing] [added: customary purchase price] adjustments.

Our Connected Living and Digital Commerce segment is focused on digitalization and automation, including warehouse [removed: automation,] [added: automation] and robotics, and includes revenues from customers primarily in the connected living and digital commerce industries.

We monitor the current economic environment and its potential impact on both the customers we serve as well as our [removed: end markets] [added: end-markets] and closely manage our costs and capital resources so that we can [removed: try to] respond appropriately as circumstances change.

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

| | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | |

| Net revenue | | | $ | [removed: 28,883] [added: 29,802] | | | | | $ | [removed: 34,702] [added: 28,883] | | | | | $ | [removed: 33,478] [added: 34,702] | |

| Gross profit | | | $ | [removed: 2,676] [added: 2,646] | | | | | $ | [removed: 2,867] [added: 2,676] | | | | | $ | [removed: 2,632] [added: 2,867] | |

| Operating income | | | $ | [removed: 2,013] [added: 1,182] | | | | | $ | [removed: 1,537] [added: 2,013] | | | | | $ | [removed: 1,393] [added: 1,537] | |

| Net income attributable to Jabil Inc. | | | $ | [removed: 1,388] [added: 657] | | | | | $ | [removed: 818] [added: 1,388] | | | | | $ | [removed: 996] [added: 818] | |

| Earnings per share – basic | | | $ | [removed: 11.34] [added: 6.00] | | | | | $ | [removed: 6.15] [added: 11.34] | | | | | $ | [removed: 7.06] [added: 6.15] | |

| Earnings per share – diluted | | | $ | [removed: 11.17] [added: 5.92] | | | | | $ | [removed: 6.02] [added: 11.17] | | | | | $ | [removed: 6.90] [added: 6.02] | |

| | | | August 31, [removed: 2024] [added: 2025] | | | | | | May 31, [removed: 2024] [added: 2025] | | | | | | August 31, [removed: 2023(1)] [added: 2024] | | |

| Sales [removed: cycle(2)] [added: cycle(1)] | | | [removed: 34] [added: 18] days | | | | | | [removed: 47] [added: 24] days | | | | | | [removed: 43] [added: 34] days | | |

| Inventory turns [removed: (annualized)(3)] [added: (annualized)(2)] | | | 5 turns | | | | | | [removed: 4] [added: 5] turns | | | | | | 5 turns | | |

| Days in accounts [removed: receivable(4)] [added: receivable(3)] | | | [removed: 46] [added: 44] days | | | | | | [removed: 45] [added: 46] days | | | | | | [removed: 40] [added: 46] days | | |

| Days in [removed: inventory(5)] [added: inventory(4)] | | | [removed: 76] [added: 69] days | | | | | | [removed: 81] [added: 74] days | | | | | | [removed: 80] [added: 76] days | | |

| Days in accounts [removed: payable(6)] [added: payable(5)] | | | [removed: 88] [added: 96] days | | | | | | [removed: 79] [added: 96] days | | | | | | [removed: 77] [added: 88] days | | |

[removed: (2)The] [added: (1)The] sales cycle is calculated as the sum of days in accounts receivable and days in inventory, less the days in accounts payable; accordingly, the variance in the sales cycle quarter over quarter is a direct result of changes in these indicators.

[removed: (3)Inventory] [added: (2)Inventory] turns (annualized) are calculated as 360 days divided by days in inventory.

[removed: (4)Days] [added: (3)Days] in accounts receivable is calculated as accounts receivable, net, divided by net revenue multiplied by 90 days.

During the three months ended August 31, [removed: 2024,] [added: 2025,] the [removed: increase] [added: decrease] in days in accounts receivable from the [added: prior sequential quarter and the] three months ended August 31, [removed: 2023,] [added: 2024,] was primarily [removed: due to] [added: driven by an increase in net revenue and] the timing of [removed: collections.][added: payments.]

[removed: (5)Days] [added: (4)Days] in inventory is calculated as inventory and contract assets divided by cost of revenue multiplied by 90 days.

During the three months ended August 31, [removed: 2024,] [added: 2025,] the decrease in days in inventory from the prior sequential quarter and the three months ended August 31, [removed: 2023,] [added: 2024,] was primarily driven by higher consumption of inventory to support sales during the quarter and improved working capital management.

[removed: (6)Days] [added: (5)Days] in accounts payable is calculated as accounts payable divided by cost of revenue multiplied by 90 days.

During the three months ended August 31, [removed: 2024,] [added: 2025,] the increase in days in accounts payable from the [removed: prior sequential quarter and the] three months ended August 31, [removed: 2023,] [added: 2024,] was primarily due to [removed: timing of] [added: higher] purchases [added: of customer-controlled consignment components] and [removed: cash payments during] the [removed: quarter.][added: timing of cash payments.]

For further discussion related to impairment analyses performed during fiscal year [removed: 2024,] [added: 2025,] and performed [removed: in connection with the divestiture] [added: as a result] of the [removed: Mobility Business,] [added: organizational realignment,] refer to Note 6 – “Goodwill and Other Intangible Assets” and Note [removed: 17] [added: 14] – [removed: “Business Acquisitions] [added: “Concentration of Risk] and [removed: Divestitures”] [added: Segment Data”] to the Consolidated Financial Statements.

[removed: If our] assumptions and consequently our estimates change in the future, the valuation allowances and/or tax reserves established may be increased or decreased, resulting in a respective increase or decrease in income tax expense.

"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: 2023,] [added: 2024,] for the results of operations discussion for the fiscal year ended August 31, [removed: 2023,] [added: 2024,] compared to the fiscal year ended August 31, [removed: 2022.][added: 2023.]

| (dollars in millions) | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | | | | | [removed: 2024] [added: 2025] vs. [removed: 2023] [added: 2024] | | | | | | [removed: 2023] [added: 2024] vs. [removed: 2022] [added: 2023] | | |

| Net revenue | | | $ | [removed: 28,883] [added: 29,802] | | | | | $ | [removed: 34,702] [added: 28,883] | | | | | $ | [removed: 33,478] [added: 34,702] | | | | | [removed: (16.8)] [added: 3.2] | | % | | | | [removed: 3.7] [added: (16.8)] | | % |

[removed: *2024] [added: | | | | 2025 | | | | | | 2024 | | | | | | 2023 | | | | | | 2025] vs. [removed: 2023*][added: 2024 | | | | | | 2024 vs. 2023 | | |]

Net revenue [removed: decreased] [added: increased] during the fiscal year ended August 31, [removed: 2024,] [added: 2025,] compared to the fiscal year ended August 31, [removed: 2023.][added: 2024.]

The [removed: DMS] [added: Regulated Industries] segment net revenue decreased [removed: 16%] [added: 3% primarily] due to: (i) a [removed: 13% decrease primarily driven by the divestiture of the Mobility Business, (ii) a 3%] [added: 2%] decrease in revenues from existing customers within our [removed: connected devices] [added: automotive and transportation] business, and [removed: (iii)] [added: (ii)] a 1% decrease in revenues from existing customers within our healthcare and packaging business.

The [removed: decrease is] [added: increase was] partially offset by a [removed: 1% increase] [added: 6% decrease] in revenues from existing customers within our [removed: automotive] [added: networking] and [removed: transportation] [added: communications] business.

On [removed: December 29, 2023,] [added: the Closing Date,] we completed the sale of the Mobility Business.

| | | | [removed: 2024(1)] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | |

| Foreign source revenue | | | [removed: 82.5] [added: 75.0] | | % | | | | [removed: 85.8] [added: 82.5] | | % | | | | [removed: 83.9] [added: 85.8] | | % |

(1)Decrease from prior periods [removed: is] [added: was primarily] driven by [added: domestic revenue growth within our Intelligent Infrastructure segment during] the [added: fiscal year ended August 31, 2025 and the] divestiture of the Mobility Business during the fiscal year ended August 31, 2024.

| (dollars in millions) | | | [removed: 2024] [added: 2025] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | |

| Percent of net revenue | | | [removed: 9.3] [added: 8.9] | | % | | | | [removed: 8.3] [added: 9.3] | | % | | | | [removed: 7.9] [added: 8.3] | | % |

At August 31, 2025, we have three reporting segments: Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce.

Beginning in February 2025, the U.S. implemented tariffs on a variety of countries and commodities, including, among others, tariffs on aluminum and steel derivative products, imports of certain Canadian and Mexican goods, imports of Chinese goods, universal tariffs on imports from most countries, and reciprocal tariffs on select countries.

In response, certain countries have imposed, or are considering, retaliatory tariffs on U.S. exports.

The global tariff landscape continues to shift rapidly, with changes impacting businesses and markets around the world.

While these increased tariffs have and may continue to impact end customer demand, we expect that we will recover the tariff costs by passing them on to our customers.

If we are unable to fully pass on these costs, our operating results and cash flows could be adversely impacted.

Changes

If our

*2025 vs. 2024*

Specifically, the Intelligent Infrastructure segment net revenue increased 34% primarily due to: (i) a 30% increase in revenues from existing customers within our cloud and data center infrastructure business and (ii) a 10% increase in revenues from existing customers within our capital equipment business.

The Connected Living and Digital Commerce segment net revenue decreased 25% due to a 27% decrease in revenues primarily driven by the divestiture of the Mobility Business within our connected living business.

The decrease was partially offset by a 2% increase in revenues from existing customers within our digital commerce business.

| Regulated Industries | | | 40 | | % | | | | 42 | | % | | | | 38 | | % |

| Intelligent Infrastructure | | | 41 | | % | | | | 32 | | % | | | | 32 | | % |

| Connected Living and Digital Commerce | | | 19 | | % | | | | 26 | | % | | | | 30 | | % |

| Gross profit | | | $ | 2,646 | | | | | $ | 2,676 | | | | | $ | 2,867 | |

*2025 vs. 2024*

Gross profit as a percentage of net revenue decreased for the fiscal year ended August 31, 2025, compared to the fiscal year ended August 31, 2024, primarily due to product mix in our Connected Living and Digital Commerce and Intelligent Infrastructure segments.

*2025 vs. 2024*

The decrease is primarily due to: (i) a $17 million decrease in other selling, general and administrative expenses primarily driven by the divestiture of the Mobility Business during the fiscal year ended August 31, 2024, (ii) a $10 million decrease in office and support costs, (iii) a $7 million decrease due to lower salary and salary related expenses, and (iv) a $4 million decrease in business interruption and impairment charges, net.

| (dollars in millions) | | | 2025 | | | | | | 2024 | | | | | | 2023 | | |

*2025 vs. 2024*

*2025 vs. 2024*

| (in millions) | | | 2025 | | | | | | 2024 | | | | | | 2023 | | | | | | 2025 vs. 2024 | | | | | | 2024 vs. 2023 | | |

*2025 vs. 2024*

The decrease is partially offset by increased restructuring, severance and related charges, related to the 2025 Restructuring Plan, during the fiscal year ended August 31, 2025.

The restructuring and other related charges are expected to include $60 million to $70 million of employee severance and benefit costs; $65 million to $70 million of asset write-off costs; and $55 million to $65 million of contract termination costs and other related costs.

| (in millions) | | | 2025 | | | | | | 2024 | | | | | | 2023 | | | | | | 2025 vs. 2024 | | | | | | 2024 vs. 2023 | | |

*2025 vs. 2024*

Charges recorded during the fiscal year ended August 31, 2025, relate primarily to a pre-tax loss of $97 million recognized for the divestiture of our operations in Italy.

During the fiscal year ended August 31, 2024, we completed the divestiture of the Mobility Business and recorded a pre-tax gain of $942 million.

Certain post-closing adjustments were realized in March 2025, which resulted in the recognition of a $54 million pre-tax gain during the fiscal year ended August 31, 2025.

| (in millions) | | | 2025 | | | | | | 2024 | | | | | | 2023 | | | | | | 2025 vs. 2024 | | | | | | 2024 vs. 2023 | | |

*2025 vs. 2024*

The decrease is partially offset by transaction costs incurred in connection with pursuing acquisition opportunities during the fiscal year ended August 31, 2025.

Loss on Securities

| (in millions) | | | 2025 | | | | | | 2024 | | | | | | 2023 | | | | | | 2025 vs. 2024 | | | | | | 2024 vs. 2023 | | |

| Loss on securities | | | $ | 46 | | | | | $ | — | | | | | $ | — | | | | | $ | 46 | | | | | $ | — | |

*2025 vs. 2024*

Loss on securities during the fiscal year ended August 31, 2025, relates to an impairment of an investment in Preferred Stock.

At August 31, 2024, we had two reporting segments: Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), which are organized based on the economic profiles of the services performed, including manufacturing capabilities, market strategy, margins, return on capital and risk profiles.

Our EMS segment is focused on leveraging IT, supply chain design, and engineering, technologies largely centered on core electronics, utilizing our large-scale manufacturing infrastructure and our ability to serve a broad range of end markets.

Our EMS segment is a high-volume business that produces product at a quicker rate (i.e., cycle time) and in larger quantities and includes customers primarily in the 5G, wireless and cloud, digital print and retail, industrial and semi-capital equipment, and networking and storage industries.

Our DMS segment is focused on providing engineering solutions, with an emphasis on material sciences, technologies, and healthcare.

Our DMS segment includes customers primarily in the automotive and transportation, connected devices, and healthcare and packaging industries.

The DMS segment included the results of the Mobility Business prior to the Closing Date.

Beginning September 1, 2024, we reorganized our internal structure to focus on speed, precision, and solutions and as a result of our organizational realignment, we will report our business in the following three segments: Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce.

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

(1)The calculation of these key performance indicators includes assets and liabilities held for sale for the three months ended August 31, 2023.

We perform a goodwill impairment analysis on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable.

Specifically, the EMS segment net revenue decreased 18% primarily due to: (i) a 9% decrease in revenues from existing customers within our 5G, wireless, and cloud business, primarily driven by the continued transitioning to a customer-controlled consignment model in our cloud business during fiscal year 2024, (ii) a 4% decrease in revenues from existing customers within our industrial and semi-capital equipment business, (iii) a 3% decrease in revenues from existing customers within our digital print and retail business, and (iv) a 2% decrease in revenues from existing customers within our networking and storage business.

| EMS | | | 48 | | % | | | | 48 | | % | | | | 50 | | % |

| DMS | | | 52 | | % | | | | 52 | | % | | | | 50 | | % |

Gross profit as a percentage of net revenue increased for the fiscal year ended August 31, 2024, compared to the fiscal year ended August 31, 2023, primarily due to product mix and depreciation and amortization for long-lived assets related to the Mobility Business divestiture no longer being recorded while these assets were classified as held for sale.

The decrease is primarily due to lower salary and salary related expenses.

The increase is partially offset by certain intangible assets that were fully amortized during fiscal year 2023.

The charges relating to the 2025 Restructuring Plan are currently expected to result in net cash expenditures of approximately $100 million to $130 million that will be payable over the course of our fiscal years 2025 and 2026.

The exact timing of these charges and cash outflows, as well as the estimated cost ranges by category type, have not been finalized.

In the second quarter of fiscal year 2024, we completed the divestiture of the Mobility Business.

See Note 17 – “Business Acquisitions and Divestitures” to the Condensed Consolidated Financial Statements for additional information.

Loss on Debt Extinguishment

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

There were no losses on extinguishment of debt during the fiscal years ended August 31, 2024, and 2023.

The decrease is partially offset by an increase due to higher interest rates primarily on our credit facilities and commercial paper program.

These decreases were partially offset by a change in the jurisdictional mix of earnings, driven in part by restructuring charges, for the fiscal year ended August 31, 2024.

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

We incurred $70 million of acquisition and divestiture related charges during the fiscal year ended August 31, 2024, primarily related to the divestiture of our Mobility Business.

purposes.

Ltd., a Singapore private limited company (“Singapore Seller”), we agreed to sell the Mobility Business to an affiliate of BYDE for cash consideration of approximately $2.2 billion, subject to certain customary purchase price adjustments.

Accordingly, we presented the assets and liabilities of the Mobility Business as held for sale in the Consolidated Balance Sheets as of August 31, 2023.

On December 29, 2023, (the “Closing Date”), we completed the sale of the Mobility Business.

In connection with the preparation of the Company’s financial statements for the quarter ended February 29, 2024, we completed an impairment analysis for goodwill recorded within the reporting unit impacted by the divestiture of the Mobility Business.

The quantitative assessment was used, and we determined that the fair value of the impacted reporting unit exceeded the carrying value and that no impairment existed immediately prior to or subsequent to divesting the Mobility Business.

We allocated goodwill to the disposal group based on the relative fair value of the Mobility Business as compared to the impacted reporting unit.

In the second quarter of fiscal year 2024 and in connection with the divestiture of the Mobility Business, we made a strategic decision that the indefinite-lived (“Green Point”) trade name valued at $51 million acquired during the acquisition of Green Point should no longer be classified as an indefinite-lived intangible asset.

Accordingly, prior to reclassifying the trade name to a finite-lived intangible asset, we completed a quantitative assessment for impairment and determined the fair value of the asset exceeded the carrying value.

The trade name was assigned a two-year estimated useful life and is being amortized on a straight-line basis as of the Closing Date.

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

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

| Balance as of August 31, 2022 | | | $ | 300 | | | | | $ | 497 | | | | | $ | 496 | | | | | $ | 592 | | | | | $ | 497 | | | | | $ | 493 | | | | | $ | — | | | | | $ | — | | | | | | | | | | | $ | — | | | | | $ | 2,875 | |

We transact business in various foreign countries and are, therefore, subject to [added: the] risk of foreign currency exchange rate fluctuations.

Forward foreign exchange contracts will generally expire in less than three months and are primarily denominated in Chinese yuan renminbi, Euro, [added: Indian Rupee,] Malaysian Ringgit, [removed: Mexican peso] and [removed: Swiss franc.][added: Mexican peso.]

Based on our overall currency rate exposures as of August 31, [removed: 2024] [added: 2025] and August 31, [removed: 2023,] [added: 2024,] respectively, 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.

See Note 11 [removed: —] [added: –] “Derivative Financial Instruments and Hedging Activities” to the Consolidated Financial Statements for additional information.

There were no borrowings outstanding under debt facilities with variable interest rates as of August 31, [removed: 2024] [added: 2025] and August 31, [removed: 2023,] [added: 2024,] respectively.

See “Management’s Discussion and Analysis of Financial Condition and Results of Operations [removed: —] [added: –] Liquidity and Capital Resources” and Note 7 [removed: —] [added: –] “Notes Payable and Long-Term Debt” to the Consolidated Financial Statements for additional information regarding our outstanding debt obligations.

As of August 31, 2024, there [removed: are] [added: were] no outstanding interest rate swaps.

See Note 11 [removed: —] [added: –] “Derivative Financial Instruments and Hedging Activities” for additional information regarding interest rate risk management.

As of August 31, 2025, we have forward interest rate swaps with an aggregate notional amount of $100 million, which are scheduled to expire on July 31, 2026.

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

[removed: We are] [added: Jabil is] one of the leading providers of [removed: manufacturing services] [added: engineering, manufacturing,] and [removed: solutions worldwide.][added: supply chain solutions.]

We [removed: provide] [added: deliver] comprehensive [removed: electronics] design, production, and product management services to companies [removed: in various] [added: across a diverse range of] industries and end markets.

[removed: Our services enable] [added: Through these integrated services, we help] our customers [removed: to] reduce manufacturing costs, [removed: improve] [added: enhance] supply chain [removed: management, reduce] [added: efficiency, minimize] inventory [removed: obsolescence,] [added: risk,] lower transportation [removed: costs,] [added: expenses,] and [removed: reduce] [added: accelerate] product [removed: fulfillment times.][added: fulfillment.]

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

For the fiscal year ended August 31, [removed: 2024,] [added: 2025,] we had net revenues of [removed: $28.9] [added: $29.8] billion and net income attributable to Jabil Inc. of [removed: $1.4 billion.][added: $657 million.]

Our [removed: DMS] [added: Regulated Industries] segment [added: is focused on regulated markets and] includes [added: revenues from] customers primarily in the automotive and transportation, [removed: connected devices, and] healthcare and [removed: packaging] [added: packaging, and renewables and energy infrastructure] industries.

[removed: Beginning] [added: As of] September 1, 2024, we [removed: reorganized our internal structure to focus on speed, precision, and solutions and as a result of our organizational realignment, we will report] [added: are reporting] our business in the following three segments: Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital [removed: Commerce.][added: Commerce, which are also the Company’s reportable segments.]

We monitor the current economic environment and its potential impact on both the customers we serve as well as our [removed: end markets;] [added: end-markets;] we closely manage our costs and capital resources so that we can respond appropriately as circumstances change.

Our vision [removed: for the future] is to [removed: become] [added: be] the world’s most technologically advanced and trusted manufacturing solutions provider.

As we work to achieve our vision, we [removed: continue to] pursue the following strategies:

- Establish and Maintain Long-Term Customer Relationships. An important element of our strategy is to [removed: establish] [added: develop] and [removed: maintain] [added: expand] long-term relationships with leading companies in expanding industries [removed: with size and growth characteristics] that [removed: can] benefit from [added: global,] highly automated, [removed: continuous flow manufacturing on a global scale.][added: continuous-flow manufacturing.]

- Product Diversification. We focus on balancing our portfolio of products and product families [removed: to those that align with higher return areas of our business.][added: toward higher-return and strategically important segments.]

- Utilize Customer-Centric Business Units. Most of our business units [removed: are dedicated to] serve [removed: one customer each and operate by primarily utilizing] [added: a single customer, using] dedicated production equipment, [removed: production] workers, supervisors, buyers, planners, and engineers to provide [removed: comprehensive manufacturing solutions that are] [added: comprehensive,] customized [removed: to each customer’s needs.][added: manufacturing solutions.]

We believe our customer-centric business units promote increased [removed: responsiveness to our customers’ needs,] [added: responsiveness,] particularly for [removed: customer] relationships that extend across multiple production locations.

We believe that our global footprint is strengthened by our centralized procurement process, which, when coupled with our single Enterprise Resource Planning system, [removed: affords] [added: provides] our customers [removed: with] end-to-end supply chain visibility.

- [removed: Offer Systems Assembly, Direct-Order Fulfillment, and Configure-to-Order] [added: Expand Value-Added] Services. Our systems assembly, direct-order [removed: fulfillment] [added: fulfillment,] and configure-to-order services allow [removed: our] customers to reduce product cost and [removed: risk of product] obsolescence [added: risk] by [removed: reducing] [added: lowering] total work-in-process and finished goods inventory.

- [removed: Offer] [added: Deliver] Design [removed: Services.] [added: Expertise.] We offer a wide spectrum of value-add design services [removed: to achieve improvements in] [added: focused on improving] performance, [removed: cost,] [added: reducing costs, accelerating] time-to-market, and [added: enhancing] manufacturability.

- Pursue [removed: Acquisition Opportunities Selectively. The primary goals of our] [added: Strategic Acquisitions. Our] acquisition strategy [removed: are to complement our] [added: complements] current capabilities, [removed: diversify our business] [added: diversifies us] into new industry sectors and [removed: with new] customers, and [removed: expand] [added: expands] the scope of [removed: the] services we [removed: can offer to our customers.][added: offer.]

- Decentralized Business Unit Model. Most of our business units [removed: are dedicated to] serve [removed: one] [added: a single] customer [removed: each] and are empowered to [removed: formulate] [added: tailor] strategies [removed: tailored] to [removed: an individual] [added: that] customer’s needs.

Business units have direct responsibility for manufacturing results and time-to-volume production, thereby promoting [removed: a sense of individual commitment] [added: accountability] and ownership.

Business unit management reviews [removed: the customer] [added: customer-specific] financial [removed: information] [added: performance] to assess whether the business units are meeting their designated responsibilities and to ensure that the daily execution of manufacturing activities [removed: is being effectively managed.][added: remains on track.]

This process contrasts with a batch approach, [removed: whereby individual pieces of assembly] [added: in which] equipment [removed: are operated] [added: operates] as [removed: freestanding] [added: standalone] work-centers.

The elimination of waiting time prior to sequential operations results in faster manufacturing, [removed: which improves production efficiencies and] [added: improved efficiency, tighter] quality [removed: control] [added: control,] and [removed: reduces inventory work-in-process.][added: reduced work-in-process inventory.]

Materials planning, purchasing, stockroom, and shop floor control systems [removed: are supported through] [added: run on] a computerized manufacturing resource planning system.

We offer a wide spectrum of value-add design services to enhance our relationships with current customers and to [removed: help develop relationships with our] [added: build] new [removed: customers.][added: customer relationships.]

Our teams are strategically staffed to support [removed: Jabil customers for all] development [removed: projects,] [added: projects of all sizes,] from turnkey system design and joint development to industrialization and product optimization activities.

Our design services support products across all markets we serve and include [removed: products] [added: applications] such as cloud data center server platforms; medical and consumer health devices; automotive assemblies for [removed: software defined vehicles,] advanced [removed: driver assistance systems, autonomous systems,] [added: architectures] and [removed: electrification;] [added: enhanced functions; vision and safety systems;] connected consumer products and appliances; digital commerce ecosystem products for retail environments; power and storage products [removed: to support] [added: supporting] the energy infrastructure; and smart controls and security for digital building and utilities.

These capabilities [removed: are used to] [added: help] create, develop, and connect concepts and specifications that optimize the function, value, and appearance of products [removed: to satisfy the needs of] [added: for both] consumers and manufacturing partners.

- Mechanical Design. Our Mechanical Design team specializes in [removed: mechanical] [added: the] design of plastic and metal components, enclosures, sub-assemblies, [removed: assemblies,] and [removed: systems to meet product requirements] [added: systems,] with [removed: the] [added: advanced modeling and] analysis of electronic, [removed: electro-mechanical] [added: electro-mechanical,] and optical [removed: assemblies using state of the art modeling and analytical tools.][added: assemblies.]

- Optical Design. Our Optical Design team [removed: focuses on applying our knowledge in] [added: applies] advanced optics [added: expertise] to [removed: provide optical product] [added: develop] solutions for virtual and/or augmented reality, Light Detection and Ranging (“LiDAR”), 3D sensing, projection, and imaging.

Throughout the design process, we develop the required processes, equipment, and testing specific to optics [removed: in order] to [removed: take the customer] [added: help ensure seamless transition] from design to precision mass production.

These functions include our computer-assisted design (“CAD”) team, [removed: to provide] [added: delivering] PCBA design [removed: services using] [added: with] advanced CAD [removed: engineering tools,] [added: tools;] our Value Analysis and Value Engineering [removed: (“VAVE”)] team, [removed: to increase] [added: improving] value and [removed: decrease] [added: reducing] cost of both electrical and mechanical [removed: assemblies,] [added: assemblies;] and our Engineering Prototyping teams for all development stages.

This includes product [removed: verification,] [added: verification to assess performance, reliability, and durability under simulated real-world conditions,] failure analysis, [removed: regulatory,] [added: regulatory] compliance and safety, packaging, simulation, [removed: and] data [removed: analysis.][added: analysis, and component analysis to identify and mitigate potential risks early in the development process.]

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

The use of [removed: software driven] [added: software-driven] instrumentation and test process design and management reduces [removed: human dependent] [added: human-dependent] test processes and [removed: allows customer product test] [added: promotes] traceability and visibility throughout the manufacturing test process.

- [removed: Single/multi-shot injection molding, stamping,] [added: Ceramic, metal] and [removed: in-mold labeling][added: plastic single/multi-shot injection molding]

- Advanced [removed: electric] [added: electrical] assembly [added: & test] processes

A key tenet of our strategy is to [removed: establish] [added: develop] and [removed: maintain] [added: expand] long-term relationships with leading companies in [removed: expanding] [added: high-growth] industries [removed: with the size and growth characteristics] that [removed: can] benefit from [added: global,] highly automated, [removed: continuous flow manufacturing on a global scale.][added: continuous-flow manufacturing.]

We also market our services and solutions through our website and social media [removed: platforms.][added: platforms, as well as through direct engagement with prospective customers, industry events, and targeted outreach initiatives.]

In fiscal year [removed: 2024,] [added: 2025,] our five largest customers accounted for approximately 36% of our net revenue and [removed: 88] [added: 87] customers accounted for approximately 90% of our net revenue.

Our capabilities span the entire product lifecycle—from innovation, design, and planning to fabrication, assembly, and delivery—enabling seamless management of resources and materials across global supply chains.

We grow these partnerships across product lines and services to create deeper, more integrated value.

In addition, we pursue relationships with new customers that meet our targeted profile: financially stable, technology-driven, growth-oriented, and committed to long-term collaboration.

In addition, we continue to evaluate emerging end-markets and technologies to help ensure our portfolio remains balanced, resilient, and aligned with long-term customer demand.

- Leverage Global Production. We believe that global production reduces obsolescence risk, lowers landed costs, and promotes consistent quality worldwide.

Our extensive global footprint allows us to select production locations that best serve customer needs.

Increasingly, our customers also prefer manufacturing to be located closer to their end markets.

To meet this need, we invest in local-for-local and local-for-regional capabilities that improve resilience, reduce lead times, enhance sustainability, and enable us to support customers directly where they operate.

Our design expertise also helps customers navigate technology transitions and regulatory requirements, creating end-to-end solutions that integrate seamlessly from concept through production.

These capabilities include procurement intelligence platforms and AI-driven orchestration systems that deliver real-time data insights to support cost management, inventory optimization, and risk mitigation across global supply networks.

These digital tools improve visibility, responsiveness, and collaboration across the supply chain.

Efforts focus on optimizing designs, reducing material and component complexity, and identifying cost-effective sourcing options.

Capabilities include development of test specifications, tester design, and execution of structural, functional, and environmental tests.

Early integration of test planning supports defect reduction and consistent product quality.

- Automation for tooling, manufacturing, and end customer solutions

- Next generation electronic interconnections

- In-mold mechanical & electrical assembly solutions

- Advanced coating solutions for plastics, metals & lenses

- Advanced thermal management solutions

- Advanced sensor integration

- Optical sensors across wavelengths

- Sterilization, device filling & fluid management

While this concentration reflects the depth of our customer relationships, we continue to diversify our customer base across industries and geographies to strengthen resilience.

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

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

| Customer A (1) | | | | | | 16 | | % | | | | * | | | | | | * | | | | | | | | | | | | | | |

| Customer B (2) | | | | | | * | | | | | | 11 | | % | | | | 17 | | % | | | | | | | | | | | | |

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

* Amount was less than 10% of total.

(1)Sales to this customer were reported primarily in the Intelligent Infrastructure segment.

(2)Sales to this customer were reported in the Connected Living and Digital Commerce segment.

| Total(1) | | | | | | 135 | | |

We are committed to safety standards in all of our facilities.

Built on respect, our culture fosters an environment where employees feel welcomed, valued, and safe – both psychologically and physically.

Our culture empowers Jabil to make a positive impact on our people, customers, and communities.

From January to August 2025, Jabil employees completed over 420,000 volunteer hours.

This commitment remains for fiscal year 2026, with a continued focus in the areas of education, empowerment, and the environment.

Recognize.

Reward., in addition to regional and site-based recognition efforts that celebrate our employees worldwide.

Our leaders are the cornerstone of Jabil’s success.

Our manufacturing and supply chain management services and solutions include innovation, design, planning, fabrication and assembly, delivery and managing the flow of resources and products.

On December 29, 2023 (“the Closing Date”), we completed the sale of our product manufacturing business in Chengdu, including its supporting component manufacturing in Wuxi (the “Mobility Business”) to an affiliate of BYD Electronic (International) Co. Ltd. (“BYDE”) for pre-tax cash proceeds of approximately $2.2 billion, subject to certain post-closing adjustments.

See Note 17 – “Business Acquisitions and Divestitures” to the Consolidated Financial Statements for additional information.

At August 31, 2024, we had two reporting segments: Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), which are organized based on the economic profiles of the services performed, including manufacturing capabilities, market strategy, margins, return on capital, and risk profiles.

Our EMS segment is focused on leveraging IT, supply chain design and engineering, technologies largely centered on core electronics, utilizing our large scale manufacturing infrastructure and our ability to serve a broad range of end markets.

Our EMS segment is a high volume business that produces product at a quicker rate (i.e. cycle time) and in larger quantities and includes customers primarily in the 5G, wireless and cloud, digital print and retail, industrial and semi-capital equipment, and networking and storage industries.

Our DMS segment is focused on providing engineering solutions, with an emphasis on material sciences, machining, tooling, and molding of highly engineered plastic and metal parts.

The DMS segment included the results of the Mobility Business prior to the Closing Date.

Our Regulated Industries segment is focused on regulated markets and includes revenues from customers primarily in the automotive and transportation, healthcare and packaging, and renewable energy infrastructure industries.

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

We focus on maintaining long-term relationships with our customers and seek to expand these relationships to include additional product lines and services.

In addition, we focus on identifying and developing relationships with new customers that meet our targeted profile, which includes financial stability, the need for technology-driven turnkey manufacturing, anticipated unit volume, and long-term relationship stability.

- Leverage Global Production. We believe that global production is a key strategy to reduce obsolescence risk and secure the lowest possible landed costs while simultaneously supplying products of equivalent or comparable quality throughout the world.

Our extensive global footprint positions us well to implement safe and practical solutions in order to select production locations which best serve the needs of our customers.

- Automation, including automated tooling

- Electronic interconnection

- Multi-axis computer numerical control

- Vacuum metallization

- Physical vapor deposition

- Digital printing

- Anodization

- Plastic with embedded electronics

- Metal and plastic covers with insert-molded or dies-casting features for assembly

- Display cover with integrated touch sensor

- Material processing research (including plastics, metal, glass, and ceramic)

- Additive manufacturing

- Liquid cooling

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

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

| Apple, Inc. | | | 11 | | % | | | | 17 | | % | | | | 19 | | % |

| Total(2) | | | | | | 138 | | |

(1)Decrease from prior period is driven by the divestiture of the Mobility Business during the fiscal year ended August 31, 2024.

We are committed to safety standards in all of our facilities, so that our employees are protected and can return home safely after each work shift.

The RBA sets (1) standards regarding excessive working hours and unfair wages, (2) controls to prohibit child labor and human trafficking, and (3) avenues for employees to raise and address workplace health and safety concerns.

We have aligned our work programs, processes, and procedures to the RBA Code of Conduct to help support safe working conditions, treat employees with respect and dignity, and environmentally responsible manufacturing process and practices.

Diversity, Equity, and Inclusion

Respect is the foundation of our culture, and we want all our employees to feel valued and psychologically and physically safe.

In fiscal year 2024, we further advanced diversity, equity, and inclusion (DEI) by expanding our DEI programming to include the formation of Regional DEI Committees.

The role of the DEI Committees is to drive engagement, identify regional needs, and share feedback and best practices globally.

They are comprised of cross-functional employees with a passion for contributing to Jabil’s commitment to inclusion, and are located in the Americas, Europe, and Asia.

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

[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 [removed: 29, 2024,] [added: 28, 2025,] was approximately [removed: $15.2] [added: $14.4] billion.

The number of outstanding shares of the registrant’s Common Stock as of the close of business on October [removed: 21, 2024,] [added: 10, 2025,] was [removed: 112,843,194.][added: 106,837,337.]

We have incorporated by reference portions of our Proxy Statement for our annual meeting of shareholders expected to be held on January [removed: 23, 2025,] [added: 22, 2026,] into Part III hereof, to the extent indicated herein.

[removed: 2024] [added: 2025] FORM 10-K ANNUAL REPORT

| Item 1. | | | [removed: [Business](#i3a788cad82a6455591aa8a055255f344_16)] [added: [Business](#ia71d0934057b4ea1993c0587a4ddcaf0_16)] | | | [removed: [2](#i3a788cad82a6455591aa8a055255f344_16)] [added: [2](#ia71d0934057b4ea1993c0587a4ddcaf0_16)] | | |

| Item 1A. | | | [Risk [removed: Factors](#i3a788cad82a6455591aa8a055255f344_22)] [added: Factors](#ia71d0934057b4ea1993c0587a4ddcaf0_22)] | | | [removed: [12](#i3a788cad82a6455591aa8a055255f344_22)] [added: [11](#ia71d0934057b4ea1993c0587a4ddcaf0_22)] | | |

| Item 1B. | | | [Unresolved Staff [removed: Comments](#i3a788cad82a6455591aa8a055255f344_25)] [added: Comments](#ia71d0934057b4ea1993c0587a4ddcaf0_25)] | | | [removed: [26](#i3a788cad82a6455591aa8a055255f344_25)] [added: [25](#ia71d0934057b4ea1993c0587a4ddcaf0_25)] | | |

| Item 1C. | | | [removed: [Cybersecurity](#i3a788cad82a6455591aa8a055255f344_1938)] [added: [Cybersecurity](#ia71d0934057b4ea1993c0587a4ddcaf0_28)] | | | [removed: [26](#i3a788cad82a6455591aa8a055255f344_1938)] [added: [25](#ia71d0934057b4ea1993c0587a4ddcaf0_28)] | | |

| Item 2. | | | [removed: [Properties](#i3a788cad82a6455591aa8a055255f344_28)] [added: [Properties](#ia71d0934057b4ea1993c0587a4ddcaf0_31)] | | | [removed: [28](#i3a788cad82a6455591aa8a055255f344_28)] [added: [27](#ia71d0934057b4ea1993c0587a4ddcaf0_31)] | | |

| Item 3. | | | [Legal [removed: Proceedings](#i3a788cad82a6455591aa8a055255f344_31)] [added: Proceedings](#ia71d0934057b4ea1993c0587a4ddcaf0_34)] | | | [removed: [28](#i3a788cad82a6455591aa8a055255f344_31)] [added: [27](#ia71d0934057b4ea1993c0587a4ddcaf0_34)] | | |

| Item 4. | | | [Mine Safety [removed: Disclosures](#i3a788cad82a6455591aa8a055255f344_34)] [added: Disclosures](#ia71d0934057b4ea1993c0587a4ddcaf0_37)] | | | [removed: [28](#i3a788cad82a6455591aa8a055255f344_34)] [added: [27](#ia71d0934057b4ea1993c0587a4ddcaf0_37)] | | |

| Item 5. | | | [Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity [removed: Securities](#i3a788cad82a6455591aa8a055255f344_40)] [added: Securities](#ia71d0934057b4ea1993c0587a4ddcaf0_43)] | | | [removed: [29](#i3a788cad82a6455591aa8a055255f344_40)] [added: [28](#ia71d0934057b4ea1993c0587a4ddcaf0_43)] | | |

| Item 6. | | | [removed: [\[Reserved\]](#i3a788cad82a6455591aa8a055255f344_43)] [added: [\[Reserved\]](#ia71d0934057b4ea1993c0587a4ddcaf0_46)] | | | [removed: [30](#i3a788cad82a6455591aa8a055255f344_43)] [added: [29](#ia71d0934057b4ea1993c0587a4ddcaf0_46)] | | |

| Item 7. | | | [Management’s Discussion and Analysis of Financial Condition and Results of [removed: Operations](#i3a788cad82a6455591aa8a055255f344_46)] [added: Operations](#ia71d0934057b4ea1993c0587a4ddcaf0_49)] | | | [removed: [31](#i3a788cad82a6455591aa8a055255f344_46)] [added: [30](#ia71d0934057b4ea1993c0587a4ddcaf0_49)] | | |

| Item 7A. | | | [Quantitative and Qualitative Disclosures About Market [removed: Risk](#i3a788cad82a6455591aa8a055255f344_85)] [added: Risk](#ia71d0934057b4ea1993c0587a4ddcaf0_94)] | | | [removed: [46](#i3a788cad82a6455591aa8a055255f344_85)] [added: [47](#ia71d0934057b4ea1993c0587a4ddcaf0_94)] | | |

| Item 8. | | | [Financial Statements and Supplementary [removed: Data](#i3a788cad82a6455591aa8a055255f344_88)] [added: Data](#ia71d0934057b4ea1993c0587a4ddcaf0_97)] | | | [removed: [47](#i3a788cad82a6455591aa8a055255f344_88)] [added: [48](#ia71d0934057b4ea1993c0587a4ddcaf0_97)] | | |

| Item 9. | | | [Changes in and Disagreements With Accountants on Accounting and Financial [removed: Disclosure](#i3a788cad82a6455591aa8a055255f344_91)] [added: Disclosure](#ia71d0934057b4ea1993c0587a4ddcaf0_100)] | | | [removed: [47](#i3a788cad82a6455591aa8a055255f344_91)] [added: [48](#ia71d0934057b4ea1993c0587a4ddcaf0_100)] | | |

| Item 9A. | | | [Controls and [removed: Procedures](#i3a788cad82a6455591aa8a055255f344_94)] [added: Procedures](#ia71d0934057b4ea1993c0587a4ddcaf0_103)] | | | [removed: [47](#i3a788cad82a6455591aa8a055255f344_94)] [added: [48](#ia71d0934057b4ea1993c0587a4ddcaf0_103)] | | |

| Item 9B. | | | [Other [removed: Information](#i3a788cad82a6455591aa8a055255f344_97)] [added: Information](#ia71d0934057b4ea1993c0587a4ddcaf0_106)] | | | [removed: [48](#i3a788cad82a6455591aa8a055255f344_97)] [added: [49](#ia71d0934057b4ea1993c0587a4ddcaf0_106)] | | |

| Item 10. | | | [Directors, Executive Officers and Corporate [removed: Governance](#i3a788cad82a6455591aa8a055255f344_103)] [added: Governance](#ia71d0934057b4ea1993c0587a4ddcaf0_112)] | | | [removed: [49](#i3a788cad82a6455591aa8a055255f344_103)] [added: [50](#ia71d0934057b4ea1993c0587a4ddcaf0_112)] | | |

| Item 11. | | | [Executive [removed: Compensation](#i3a788cad82a6455591aa8a055255f344_106)] [added: Compensation](#ia71d0934057b4ea1993c0587a4ddcaf0_115)] | | | [removed: [49](#i3a788cad82a6455591aa8a055255f344_106)] [added: [50](#ia71d0934057b4ea1993c0587a4ddcaf0_115)] | | |

| Item 12. | | | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder [removed: Matters](#i3a788cad82a6455591aa8a055255f344_109)] [added: Matters](#ia71d0934057b4ea1993c0587a4ddcaf0_118)] | | | [removed: [49](#i3a788cad82a6455591aa8a055255f344_109)] [added: [50](#ia71d0934057b4ea1993c0587a4ddcaf0_118)] | | |

| Item 13. | | | [Certain Relationships and Related Transactions, and Director [removed: Independence](#i3a788cad82a6455591aa8a055255f344_112)] [added: Independence](#ia71d0934057b4ea1993c0587a4ddcaf0_121)] | | | [removed: [49](#i3a788cad82a6455591aa8a055255f344_112)] [added: [50](#ia71d0934057b4ea1993c0587a4ddcaf0_121)] | | |

| Item 14. | | | [Principal Accounting Fees and [removed: Services](#i3a788cad82a6455591aa8a055255f344_115)] [added: Services](#ia71d0934057b4ea1993c0587a4ddcaf0_124)] | | | [removed: [49](#i3a788cad82a6455591aa8a055255f344_115)] [added: [50](#ia71d0934057b4ea1993c0587a4ddcaf0_124)] | | |

| Item 15. | | | [Exhibits and Financial Statement [removed: Schedules](#i3a788cad82a6455591aa8a055255f344_121)] [added: Schedules](#ia71d0934057b4ea1993c0587a4ddcaf0_130)] | | | [removed: [50](#i3a788cad82a6455591aa8a055255f344_121)] [added: [51](#ia71d0934057b4ea1993c0587a4ddcaf0_130)] | | |

| Item 16. | | | [Form 10-K [removed: Summary](#i3a788cad82a6455591aa8a055255f344_229)] [added: Summary](#ia71d0934057b4ea1993c0587a4ddcaf0_253)] | | | [removed: [94](#i3a788cad82a6455591aa8a055255f344_229)] [added: [98](#ia71d0934057b4ea1993c0587a4ddcaf0_253)] | | |

Should [removed: known or unknown] [added: these] risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected.

| [Signatures](#ia71d0934057b4ea1993c0587a4ddcaf0_256) | | | | | | [99](#ia71d0934057b4ea1993c0587a4ddcaf0_256) | | |

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

| [Signatures](#i3a788cad82a6455591aa8a055255f344_232) | | | | | | [95](#i3a788cad82a6455591aa8a055255f344_232) | | |

- Cybersecurity policies*.* We leverage cybersecurity industry-standard frameworks and insights from internal assessments to develop policies to guide the use of our information assets (for example, business information and information resources such as mobile phones, computers, and workstations), access to specific intellectual property or technologies, [added: deployment of AI within the Company,] and protection of personal information.

- Risk assessment. The Company uses [removed: routine] risk assessment processes to identify and prioritize cybersecurity risks, employ operational controls to mitigate risks, report incidents, and analyze trends, and employ a corrective action process to address nonconformities.

- Security Awareness and Training. Cybersecurity education contributes to [added: the] safety of the Company, customer data, and employee sensitive data and assets.

As of the date of this report, we are not aware of any risks from cybersecurity threats, including as a result of any cybersecurity incidents, which have materially affected us [added: during fiscal year 2025] or are reasonably likely to materially affect [removed: us,] [added: us in the near term,] including our business strategy, results of operations, or financial condition.

The CISO has over [removed: 38] [added: 39] years of experience working in cybersecurity, risk management, and infrastructure technology and network architecture.

The CIO has over [removed: 32] [added: 33] years of experience focused on corporate strategy formulation and implementation, IT management including cybersecurity, and business and process transformation.

Effective September 1, 2025, the Company transitioned cybersecurity responsibilities to a new CISO.

The new CISO has over 20 years of experience leading large-scale security programs protecting critical infrastructure and sensitive data, modernizing digital identity systems, and driving cultural transformation within security teams in the federal, healthcare, and global manufacturing sectors.

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The majority of the square footage is active manufacturing space and [removed: are] [added: is] reported in [removed: both] the [removed: EMS] [added: Regulated Industries, Intelligent Infrastructure,] and [removed: DMS] [added: Connected Living and Digital Commerce] operating segments, as [removed: both] [added: all] use these properties.

The table below lists the approximate square footage for our facilities as of August 31, [removed: 2024] [added: 2025] (in millions):

| [removed: Asia(1)] [added: Asia] | | | [removed: 21] [added: 17] | | | | | | | | |

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

| [removed: Total(2)(3)] [added: Total(1)(2)] | | | [removed: 38] [added: 35] | | | | | | | | |

[removed: (2)Approximately 8%] [added: (1)Approximately 10%] of our total square footage is not currently used in business operations.

[removed: (3)Consists] [added: (2)Consists] of [removed: 13] [added: 14] million square feet in facilities that we own with the remaining [removed: 25] [added: 21] million square feet in leased facilities.

(1)Decrease from prior period is driven by the divestiture of the Mobility Business during the fiscal year ended August 31, 2024.

See Note 17 – “Business Acquisitions and Divestitures” to the Consolidated Financial Statements for additional information.

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On October [removed: 21, 2024,] [added: 10, 2025,] the closing sales price for our common stock as reported on the New York Stock Exchange was [removed: $124.37.][added: $193.99.]

As of October [removed: 21, 2024,] [added: 10, 2025,] there were [removed: 1,040] [added: 956] 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: 2024,] [added: 2025,] with the cumulative stockholder return of the (1) S&P [removed: 400 Index, (2) S&P] 500 [removed: Index,] [added: Index] and [removed: (3)] [added: (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: 2019] [added: 2020] | | | | | | [removed: 2020] [added: 2021] | | | | | | [removed: 2021] [added: 2022] | | | | | | [removed: 2022] [added: 2023] | | | | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2024] [added: 2025] | | |

The following table provides information relating to our repurchase of common stock, excluding excise tax, during the three months ended August 31, [removed: 2024:][added: 2025:]

(1)The purchases include amounts that are attributable to [removed: 2,983] [added: 5,968] 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.

(2)In September [removed: 2022,] [added: 2024,] 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 September [removed: 27, 2022] [added: 26, 2024] (the [removed: “2023] [added: “2025] Share Repurchase Program”).

In [removed: September 2023,] [added: July 2025,] our Board of Directors [removed: amended and increased the 2023 Share Repurchase Program to allow for] [added: authorized] the repurchase of up to [removed: $2.5] [added: $1.0] billion of our common stock as publicly announced in a press release on [removed: September 28, 2023.][added: July 17, 2025 (the “2026 Share Repurchase Program”).]

For more information, see “Liquidity and Capital Resources [removed: -] [added: –] Dividends and Share Repurchases”.

| Jabil Inc. | | | $ | 100 | | | | | $ | 182 | | | | | $ | 179 | | | | | $ | 340 | | | | | $ | 326 | | | | | $ | 612 | |

| S&P 500 Index – Total Returns | | | $ | 100 | | | | | $ | 131 | | | | | $ | 116 | | | | | $ | 135 | | | | | $ | 172 | | | | | $ | 199 | |

| Peer Group | | | $ | 100 | | | | | $ | 157 | | | | | $ | 150 | | | | | $ | 164 | | | | | $ | 280 | | | | | $ | 396 | |

| June 1, 2025 – June 30, 2025 | | | — | | | | | | $ | — | | | | | — | | | | | | $ | 25 | |

| July 1, 2025 – July 31, 2025 | | | 10,018 | | | | | | $ | 225.14 | | | | | 4,050 | | | | | | $ | 20 | |

| August 1, 2025 – August 31, 2025 | | | 93,013 | | | | | | $ | 219.10 | | | | | 93,013 | | | | | | $ | — | |

| Total | | | 103,031 | | | | | | $ | 219.69 | | | | | 97,063 | | | | | | | | |

In December 2024, we issued a warrant to Amazon.com NV Investment Holdings LLC to acquire up to 1,158,539 of our ordinary shares as reported in a Current Report on Form 8-K filed on January 3, 2025.

Refer to Note 13 – “Stockholders’ Equity” to the Consolidated Financial Statements for further details.

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

| Jabil Inc. | | | $ | 100 | | | | | $ | 120 | | | | | $ | 218 | | | | | $ | 214 | | | | | $ | 407 | | | | | $ | 390 | |

| S&P 400 Index – Total Returns(1) | | | $ | 100 | | | | | $ | 104 | | | | | $ | 151 | | | | | $ | 135 | | | | | $ | 150 | | | | | $ | 178 | |

| S&P 500 Index – Total Returns(1) | | | $ | 100 | | | | | $ | 122 | | | | | $ | 160 | | | | | $ | 142 | | | | | $ | 165 | | | | | $ | 209 | |

| Peer Group | | | $ | 100 | | | | | $ | 116 | | | | | $ | 181 | | | | | $ | 174 | | | | | $ | 190 | | | | | $ | 323 | |

(1)During the fiscal year ended August 31, 2024, we were added to the S&P 500 Index.

We were previously a member of the S&P 400 Index.

| June 1, 2024 – June 30, 2024 | | | 5,275,487 | | | | | | $ | 112.44 | | | | | 5,275,487 | | | | | | $ | — | |

| July 1, 2024 – July 31, 2024 | | | 2,983 | | | | | | $ | 110.54 | | | | | — | | | | | | $ | — | |

| August 1, 2024 – August 31, 2024 | | | — | | | | | | $ | — | | | | | — | | | | | | $ | — | |

| Total | | | 5,278,470 | | | | | | $ | 112.44 | | | | | 5,275,487 | | | | | | | | |

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

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: 2024.][added: 2025.]

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

Management’s report on internal control over financial reporting as of August 31, [removed: 2024,] [added: 2025,] 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: 2024,] [added: 2025,] which is incorporated herein at Item 15.

Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances [added: of fraud, if any, within the Company have been detected.]

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: 2024.][added: 2025.]

For our fiscal quarter ended August 31, [removed: 2024,] [added: 2025,] 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.

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of fraud, if any, within the Company have been detected.

During the three months ended August 31, [removed: 2024,] [added: 2025,] no director or [removed: executive officer] [added: “officer”] of the Company [removed: adopted or terminated a trading arrangement intended to satisfy the affirmative defenses of] [added: (as defined in] Rule [removed: 10b5-1] [added: 16a-1(f)] under the Securities Exchange Act of 1934 [added: (the “Exchange Act”)) adopted, modified,] or [added: terminated] a [added: “Rule 10b5-1 trading arrangement” or a] “non-Rule 10b5-1 trading [removed: arrangement,”] [added: arrangement” (each] as defined in Item [removed: 408(a)] [added: 408] of Regulation [removed: S-K.][added: S-K of the Exchange Act), except as follows:]

On June 27, 2025, Michael Dastoor, Jabil’s Chief Executive Officer and a director on Jabil’s board, entered into a Rule 10b5-1 plan with a duration of approximately twelve months, for the sale of up to 54,381 shares of Jabil common stock.

On July 7, 2025, Mr. Dastoor terminated this plan.

On July 8, 2025, Mr. Dastoor entered into a new Rule 10b5-1 plan with a duration of twelve months, unless earlier terminated pursuant to the terms of the trading arrangement, for the sale of up to 54,381 shares of Jabil common stock.

On June 26, 2025, Gregory Hebard, Chief Financial Officer, entered into a Rule 10b5-1 trading plan with a duration of six months, unless earlier terminated pursuant to the terms of the trading arrangement, for the sale of up to 8,944 shares of the Company’s common stock.

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

The other information required by this item is incorporated by reference to the information set forth under the captions “Election of Directors”, [added: “Beneficial Ownership – Delinquent Section 16(a) Reports”,] “Corporate Governance”, [removed: “Board of Directors” and] “Audit Committee Matters” [added: and “Insider Trading Policy”] 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: 2024] [added: 2025] (“Proxy Statement”).

The information required by this item is incorporated by reference to the information set forth under the captions “Compensation [removed: Matters”, “Board] [added: Matters” (excluding the information under the caption “Pay Versus Performance”), “Election] of Directors – Director Compensation” and “Corporate Governance – Compensation Committee Interlocks and Insider Participation” in our Proxy Statement.

The information required by this item is incorporated by reference to the information set forth under the captions “Corporate Governance – Related Party Transactions – Certain Related Party Transactions”, “Corporate Governance [removed: –Determinations] [added: – Determinations] of Director Independence” in our Proxy Statement.

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

| 3.2 | | | | | | | | | [removed: [Registrant’s](https://www.sec.gov/Archives/edgar/data/898293/000119312524241946/d846457dex31.htm) [Amended] [added: [Registrant’s Amended] and [removed: Restated](https://www.sec.gov/Archives/edgar/data/898293/000119312524241946/d846457dex31.htm) [Bylaws](https://www.sec.gov/Archives/edgar/data/898293/000119312524241946/d846457dex31.htm)[.](https://www.sec.gov/Archives/edgar/data/898293/000119312524241946/d846457dex31.htm)] [added: Restated Bylaws.](https://www.sec.gov/Archives/edgar/data/898293/000119312524241946/d846457dex31.htm)] | | | | | | 8-K | | | | | | 3.1 | | | | | | | | | | | | 10/23/2024 | | |

| 10.4a† | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU EPS – [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312522004029/d217432dex101.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex101.htm)] | | | | | | 10-Q | | | | | | 10.1 | | | | | | | | | | | | [removed: 11/30/2021] [added: 11/30/2022] | | |

| 10.4b† | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU TSR – [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312522004029/d217432dex102.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex102.htm)] | | | | | | 10-Q | | | | | | 10.2 | | | | | | | | | | | | [removed: 11/30/2021] [added: 11/30/2022] | | |

| [removed: 10.4c†] [added: 10.4d†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (TBRSU-NON-Employee [removed: Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312522004029/d217432dex103.htm)] [added: Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex104.htm)] | | | | | | 10-Q | | | | | | [removed: 10.3] [added: 10.4] | | | | | | | | | | | | [removed: 11/30/2021] [added: 11/30/2022] | | |

| [removed: 10.4d†] [added: 10.4c†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (TBRSU [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312522004029/d217432dex105.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex103.htm)] | | | | | | 10-Q | | | | | | [removed: 10.5] [added: 10.3] | | | | | | | | | | | | [removed: 11/30/2021] [added: 11/30/2022] | | |

| [removed: 10.4e†] [added: 10.4i†] | | | | | | | | | [Form of Jabil Inc. Two-Year Cliff Restricted Stock Unit Award Agreement (TBRSU – [removed: Global Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312522186715/d193672dex101.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex104.htm)] | | | | | | 10-Q | | | | | | [removed: 10.1] [added: 10.4] | | | | | | | | | | | | [removed: 5/31/2022] [added: 11/30/2023] | | |

| 10.4f† | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU EPS – [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex101.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex101.htm)] | | | | | | 10-Q | | | | | | 10.1 | | | | | | | | | | | | [removed: 11/30/2022] [added: 11/30/2023] | | |

| 10.4g† | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU TSR – [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex102.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex102.htm)] | | | | | | 10-Q | | | | | | 10.2 | | | | | | | | | | | | [removed: 11/30/2022] [added: 11/30/2023] | | |

| 10.4h† | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (TBRSU [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex103.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex103.htm)] | | | | | | 10-Q | | | | | | 10.3 | | | | | | | | | | | | [removed: 11/30/2022] [added: 11/30/2023] | | |

| [removed: 10.4i†] [added: 10.4e†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-NON-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex104.htm)] [added: (TBRSU-Cash-Settled-NON-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex105.htm)] | | | | | | 10-Q | | | | | | [removed: 10.4] [added: 10.5] | | | | | | | | | | | | 11/30/2022 | | |

| 10.4j† | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-Cash-Settled-NON-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312523003543/d415236dex105.htm)] [added: (TBRSU-NON-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex105.htm)] | | | | | | 10-Q | | | | | | 10.5 | | | | | | | | | | | | [removed: 11/30/2022] [added: 11/30/2023] | | |

| [removed: 10.4k†] [added: 10.4l†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU EPS – [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex101.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000162828025001058/jbl-20241130ex102.htm)] | | | | | | 10-Q | | | | | | [removed: 10.1] [added: 10.2] | | | | | | | | | | | | [removed: 11/30/2023] [added: 11/30/2024] | | |

| [removed: 10.4l†] [added: 10.4m†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (PBRSU TSR – [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex102.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000162828025001058/jbl-20241130ex103.htm)] | | | | | | 10-Q | | | | | | [removed: 10.2] [added: 10.3] | | | | | | | | | | | | [removed: 11/30/2023] [added: 11/30/2024] | | |

| [removed: 10.4m†] [added: 10.4n†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement (TBRSU [removed: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex103.htm)] [added: Executive).](https://www.sec.gov/Archives/edgar/data/898293/000162828025001058/jbl-20241130ex104.htm)] | | | | | | 10-Q | | | | | | [removed: 10.3] [added: 10.4] | | | | | | | | | | | | [removed: 11/30/2023] [added: 11/30/2024] | | |

| [removed: 10.4n†] [added: 10.4k†] | | | | | | | | | [Form of Jabil Inc. [removed: Two-Year Cliff] Restricted Stock Unit Award Agreement [removed: (TBRSU – Executive).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex104.htm)] [added: (TBRSU-Cash-Settled-NON-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex106.htm)] | | | | | | 10-Q | | | | | | [removed: 10.4] [added: 10.6] | | | | | | | | | | | | 11/30/2023 | | |

| [removed: 10.4o†] [added: 10.4p†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-NON-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex105.htm)] [added: (TBRSU Non-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000162828025001058/jbl-20241130ex106.htm)] | | | | | | 10-Q | | | | | | [removed: 10.5] [added: 10.6] | | | | | | | | | | | | [removed: 11/30/2023] [added: 11/30/2024] | | |

| [removed: 10.4p†] [added: 10.4o†] | | | | | | | | | [Form of Jabil Inc. Restricted Stock Unit Award Agreement [removed: (TBRSU-Cash-Settled-NON-Employee Director).](https://www.sec.gov/Archives/edgar/data/898293/000119312524004852/d57908dex106.htm)] [added: (TBRSU Executive – Non-Retirement Eligible).](https://www.sec.gov/Archives/edgar/data/898293/000162828025001058/jbl-20241130ex105.htm)] | | | | | | 10-Q | | | | | | [removed: 10.6] [added: 10.5] | | | | | | | | | | | | [removed: 11/30/2023] [added: 11/30/2024] | | |

| [removed: 10.6] [added: 10.7] | | | | | | | | | [removed: [Amendment No. 3 to Credit] [added: [Credit] Agreement dated as of [removed: February 23, 2024] [added: June 18, 2025] among Jabil Inc.; the lenders named therein; Citibank, N.A., as administrative agent; [removed: Sumitomo Mitsui Banking Corporation] [added: Bank of America, N.A.] and [removed: Citibank, N.A., as sustainability agents;] JPMorgan Chase Bank, [removed: N.A. and Bank of America,] N.A., as co-syndication agents; BNP Paribas, Credit Agricole Corporate and Investment Bank, [removed: Mizuho] [added: Miztem uho] Bank, Ltd., Sumitomo Mitsui Banking Corporation and U.S. Bank National Association, as [removed: documentation] [added: co-documentation] agents; and Citibank, N.A., [added: BofA Securities, Inc.,] JPMorgan Chase Bank, N.A., [removed: BofA Securities, Inc.,] BNP Paribas Securities Corp., Credit Agricole Corporate and Investment Bank, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and U.S. Bank National Association, as joint lead arrangers and joint [removed: bookrunners.](https://www.sec.gov/Archives/edgar/data/898293/000119312524046332/d774043dex101.htm)] [added: bookrunners.](https://www.sec.gov/ix?doc=/Archives/edgar/data/0000898293/000119312525145722/d98395d8k.htm)] | | | | | | 8-K | | | | | | 10.1 | | | | | | | | | | | | [removed: 2/26/2024] [added: 6/24/2025] | | |

| [removed: 19.1*] [added: 19.1] | | | | | | | | | [Insider Trading [removed: Policy](https://www.sec.gov/Archives/edgar/data/898293/000162828024043960/jbl-20240831ex191.htm)] [added: Policy](https://www.sec.gov/Archives/edgar/data/0000898293/000162828024043960/jbl-20240831ex191.htm)] | | | | | | [added: 10-K] | | | | | | [added: 19.1] | | | | | | | | | | | | [added: 8/31/2024] | | |

| 21.1* | | | | | | | | | [List of [removed: Subsidiaries.](https://www.sec.gov/Archives/edgar/data/898293/000162828024043960/jbl-20240831ex211.htm)] [added: Subsidiaries.](https://www.sec.gov/Archives/edgar/data/898293/000162828025045293/jbl-20250831ex211.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 23.1* | | | | | | | | | [Consent of Independent Registered Public Accounting [removed: Firm.](https://www.sec.gov/Archives/edgar/data/898293/000162828024043960/jbl-20240831ex231.htm)] [added: Firm.](https://www.sec.gov/Archives/edgar/data/898293/000162828025045293/jbl-20250831ex231.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 24.1* | | | | | | | | | [Power of Attorney (See Signature [removed: page).](#i3a788cad82a6455591aa8a055255f344_235)] [added: page).](#ia71d0934057b4ea1993c0587a4ddcaf0_259)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 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/898293/000162828024043960/jbl-20240831ex311.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000162828025045293/jbl-20250831ex311.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/898293/000162828024043960/jbl-20240831ex312.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000162828025045293/jbl-20250831ex312.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 32.1* | | | | | | | | | [Section 1350 Certification by the Chief Executive Officer of the [removed: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000162828024043960/jbl-20240831ex321.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000162828025045293/jbl-20250831ex321.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| 32.2* | | | | | | | | | [Section 1350 Certification by the Chief Financial Officer of the [removed: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000162828024043960/jbl-20240831ex322.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/898293/000162828025045293/jbl-20250831ex322.htm)] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| [removed: 97.1*] [added: 97.1] | | | | | | | | | [Executive Compensation Recoupment (Clawback) [removed: Policy.](https://www.sec.gov/Archives/edgar/data/898293/000162828024043960/jbl-20240831ex971.htm)] [added: Policy.](https://www.sec.gov/Archives/edgar/data/0000898293/000162828024043960/jbl-20240831ex971.htm)] | | | | | | [added: 10-K] | | | | | | [added: 97.1] | | | | | | | | | | | | [added: 8/31/2024] | | |

| 101 | | | | | | | | | The following financial information from Jabil’s Annual Report on Form 10-K for the fiscal period ended August 31, [removed: 2024,] [added: 2025,] formatted in Inline XBRL: (i) Consolidated Balance Sheets as of August 31, [removed: 2024] [added: 2025] and August 31, [removed: 2023;] [added: 2024;] (ii) Consolidated Statements of Operations for the fiscal years ended August 31, [removed: 2024, 2023] [added: 2025, 2024] and [removed: 2022;] [added: 2023;] (iii) Consolidated Statements of Comprehensive Income for the fiscal years ended August 31, [removed: 2024, 2023] [added: 2025, 2024] and [removed: 2022;] [added: 2023;] (iv) Consolidated Statements of Comprehensive Stockholders’ Equity for the fiscal years ended August 31, [removed: 2024, 2023] [added: 2025, 2024] and [removed: 2022;] [added: 2023;] (v) Consolidated Statements of Cash Flows for the fiscal years ended August 31, [removed: 2024, 2023] [added: 2025, 2024] and [removed: 2022;] [added: 2023;] and (vi) Notes to Consolidated Financial Statements. | | | | | | | | | | | | | | | | | | | | | | | | | | |

| [Management’s Report on Internal Control over Financial [removed: Reporting](#i3a788cad82a6455591aa8a055255f344_127)] [added: Reporting](#ia71d0934057b4ea1993c0587a4ddcaf0_136)] | | | [removed: [54](#i3a788cad82a6455591aa8a055255f344_127)] [added: [55](#ia71d0934057b4ea1993c0587a4ddcaf0_136)] | | |

| [Reports of Independent Registered Public Accounting Firm (Ernst & Young LLP; PCAOB [removed: ID](#i3a788cad82a6455591aa8a055255f344_130)[:](#i3a788cad82a6455591aa8a055255f344_130)] [added: ID](#ia71d0934057b4ea1993c0587a4ddcaf0_139)[:](#ia71d0934057b4ea1993c0587a4ddcaf0_139)] 42) | | | [removed: [55](#i3a788cad82a6455591aa8a055255f344_130)] [added: [56](#ia71d0934057b4ea1993c0587a4ddcaf0_139)] | | |

| [Consolidated Balance Sheets [removed: –](#i3a788cad82a6455591aa8a055255f344_136)] [added: –](#ia71d0934057b4ea1993c0587a4ddcaf0_145)] August 31, [added: 2025 [and](#ia71d0934057b4ea1993c0587a4ddcaf0_145)] 2024 [removed: [and](#i3a788cad82a6455591aa8a055255f344_136) 2023] | | | [removed: [58](#i3a788cad82a6455591aa8a055255f344_136)] [added: [59](#ia71d0934057b4ea1993c0587a4ddcaf0_145)] | | |

| [Consolidated Statements of Operations – Fiscal years [removed: ended](#i3a788cad82a6455591aa8a055255f344_139)] [added: ended](#ia71d0934057b4ea1993c0587a4ddcaf0_148)] August 31, [removed: 2024[,](#i3a788cad82a6455591aa8a055255f344_139) 2023, [a](#i3a788cad82a6455591aa8a055255f344_139)[nd](#i3a788cad82a6455591aa8a055255f344_139) 2022] [added: 2025[,](#ia71d0934057b4ea1993c0587a4ddcaf0_148) 2024, [a](#ia71d0934057b4ea1993c0587a4ddcaf0_148)[nd](#ia71d0934057b4ea1993c0587a4ddcaf0_148) 2023] | | | [removed: [59](#i3a788cad82a6455591aa8a055255f344_139)] [added: [60](#ia71d0934057b4ea1993c0587a4ddcaf0_148)] | | |

| [Consolidated Statements of Comprehensive Income – Fiscal years [removed: ended](#i3a788cad82a6455591aa8a055255f344_142)] [added: ended](#ia71d0934057b4ea1993c0587a4ddcaf0_151)] August 31, [removed: 2024[,](#i3a788cad82a6455591aa8a055255f344_139) 2023, [](#i3a788cad82a6455591aa8a055255f344_139)[and](#i3a788cad82a6455591aa8a055255f344_139) 2022] [added: 2025[,](#ia71d0934057b4ea1993c0587a4ddcaf0_148) 2024, [](#ia71d0934057b4ea1993c0587a4ddcaf0_148)[and](#ia71d0934057b4ea1993c0587a4ddcaf0_148) 2023] | | | [removed: [60](#i3a788cad82a6455591aa8a055255f344_142)] [added: [61](#ia71d0934057b4ea1993c0587a4ddcaf0_151)] | | |

| [Consolidated Statements of Stockholders’ Equity – Fiscal years [removed: ended](#i3a788cad82a6455591aa8a055255f344_145)] [added: ended](#ia71d0934057b4ea1993c0587a4ddcaf0_154)] August 31, [removed: 2024[,](#i3a788cad82a6455591aa8a055255f344_139) 2023, [an](#i3a788cad82a6455591aa8a055255f344_139)[d](#i3a788cad82a6455591aa8a055255f344_139) 2022] [added: 2025[,](#ia71d0934057b4ea1993c0587a4ddcaf0_148) 2024, [an](#ia71d0934057b4ea1993c0587a4ddcaf0_148)[d](#ia71d0934057b4ea1993c0587a4ddcaf0_148) 2023] | | | [removed: [61](#i3a788cad82a6455591aa8a055255f344_145)] [added: [62](#ia71d0934057b4ea1993c0587a4ddcaf0_154)] | | |

| [Consolidated Statements of Cash Flows – Fiscal years [removed: ended](#i3a788cad82a6455591aa8a055255f344_148)] [added: ended](#ia71d0934057b4ea1993c0587a4ddcaf0_157)] August 31, [removed: 2024[,](#i3a788cad82a6455591aa8a055255f344_139) 2023, [a](#i3a788cad82a6455591aa8a055255f344_139)[nd](#i3a788cad82a6455591aa8a055255f344_139) 2022] [added: 2025[,](#ia71d0934057b4ea1993c0587a4ddcaf0_148) 2024, [a](#ia71d0934057b4ea1993c0587a4ddcaf0_148)[nd](#ia71d0934057b4ea1993c0587a4ddcaf0_148) 2023] | | | [removed: [62](#i3a788cad82a6455591aa8a055255f344_148)] [added: [63](#ia71d0934057b4ea1993c0587a4ddcaf0_157)] | | |

| [Notes to Consolidated Financial [removed: Statements](#i3a788cad82a6455591aa8a055255f344_151)] [added: Statements](#ia71d0934057b4ea1993c0587a4ddcaf0_160)] | | | [removed: [63](#i3a788cad82a6455591aa8a055255f344_151)] [added: [64](#ia71d0934057b4ea1993c0587a4ddcaf0_160)] | | |

| [Schedule II – Valuation and Qualifying [removed: Accounts](#i3a788cad82a6455591aa8a055255f344_238)] [added: Accounts](#ia71d0934057b4ea1993c0587a4ddcaf0_262)] | | | [removed: [97](#i3a788cad82a6455591aa8a055255f344_238)] [added: [101](#ia71d0934057b4ea1993c0587a4ddcaf0_262)] | | |

Under the supervision of and with the participation of the Chief Executive Officer and the Chief Financial Officer, the Company’s management conducted an assessment of the effectiveness of the Company’s internal control over financial reporting as of August 31, [removed: 2024.][added: 2025.]

Based on this assessment, management has concluded that, as of August 31, [removed: 2024,] [added: 2025,] the Company maintained effective internal control over financial reporting.

[added: |] October [removed: 28,] 2024 [added: | | | $ | — | | | | | $ | 140 | |]

| 10.6 | | | | | | | | | [Warrant to Purchase Common Stock, dated December 27, 2024, issued to Amazon.com, Inc.](https://www.sec.gov/Archives/edgar/data/898293/000119312525001065/d891169dex41.htm) | | | | | | 8-K | | | | | | 4.1 | | | | | | | | | | | | 1/3/2025 | | |

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| Loss on securities | | | 46 | | | | | | — | | | | | | — | | |

| Reclassification of liability award | | | 4 | | | | | | — | | | | | | — | | |

| Provision for common stock warrant | | | 4 | | | | | | — | | | | | | — | | |

| Total other comprehensive income (loss) | | | 29 | | | | | | (29) | | | | | | 25 | | |

| Capital contribution of noncontrolling interest | | | 4 | | | | | | — | | | | | | — | | |

| Net income | | | $ | 657 | | | | | $ | 1,388 | | | | | $ | 818 | |

The Company accounts for the warrant issued to Amazon.com NV Investment Holdings LLC as an equity instrument within additional paid-in-capital at its estimated fair value on the Consolidated Balance Sheets, and the provision for the warrant is recorded as a reduction to revenue on the Consolidated Statements of Operations.

To estimate the fair value of the warrant, the Company used the Black-Scholes option pricing model, which is based on assumptions that require management to use judgement.

Based on the estimated fair value, the Company determined the amount of provision for common stock warrant, which is amortized ratably as a reduction to revenue based on the Company’s estimate of revenue over the warrant term.

Refer to Note 13 – “Stockholders’ Equity” to the Consolidated Financial Statements for further details.

In conjunction with the trade accounts receivable sale programs, the Company is required to remit amounts collected as a servicer under the trade accounts receivable sale programs to the unaffiliated financial institutions that purchased the receivables.

The outstanding balance of receivables sold and not yet collected on accounts where the Company has continuing involvement was approximately $927 million and $367 million as of August 31, 2025, and 2024, respectively.

Transfers of the receivables under the trade accounts receivable sale programs are accounted for as sales and, accordingly, net receivables sold

| D | | | | | | $ | 230 | | | | | | | | | | | | | | | | |

| F | | | | | | $ | 75 | | | | | | | | | | | | | | | | |

| H | | | | | | $ | 2,000 | | | | | | | | | | | | | | | | |

| J | | | | | | $ | 250 | | | | | | | | | | | | | | | | |

(2)The trade accounts receivable sale programs either expire on various dates through 2028 or do not have expiration dates and may be terminated upon election of the Company or the unaffiliated financial institutions.

| Construction in progress(1) | | | 356 | | | | | | 346 | | |

(1) Amount includes short-term and long-term fixed asset costs that are expected to be placed into service.

| | | | 2025 | | | | | | 2024 | | |

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| | | | 2025 | | | | | | 2024 | | |

| 2026 | | | $ | 112 | | | | | $ | 208 | | | | | $ | 320 | |

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

| 10.7* | | | | | | | | | [Agreement for the Sale and Purchase of Shares in Juno Newco Target Holdco Singapore Pte. Ltd. and certain Assets of Jabil Circuit (Singapore) Pte. Ltd., dated as of September 26, 2023, by and between BYD Electronic (International) Company Limited and Jabil Circuit (Singapore) Pte. Ltd., a Singapore private limited company.](https://www.sec.gov/Archives/edgar/data/898293/000119312523259599/d533726dex109.htm) | | | | | | 10-K | | | | | | 10.9 | | | | | | | | | | | | 8/31/2023 | | |

| 10.8† | | | | | | | | | [Mutual Separation Agreement and Release dated as of August 21, 2023, between Jabil Inc. and Steven Borges.](https://www.sec.gov/Archives/edgar/data/898293/000119312523221471/d489985dex101.htm) | | | | | | 8-K | | | | | | 10.1 | | | | | | | | | | | | 8/25/2023 | | |

| 10.9† | | | | | | | | | [Separation, Release and Restrictive Covenants Agreement between Kenneth S. Wilson and Jabil Inc. dated May 19, 2024.](https://www.sec.gov/Archives/edgar/data/898293/000119312524142941/d829227dex101.htm) | | | | | | 8-K | | | | | | 10.1 | | | | | | | | | | | | 5/20/2024 | | |

| 10.10† | | | | | | | | | [Amendment to Mutual Separation Agreement and Release dated as of May 19, 2024 between Jabil Inc. and Steven D. Borges.](https://www.sec.gov/Archives/edgar/data/898293/000119312524142941/d829227dex102.htm) | | | | | | 8-K | | | | | | 10.2 | | | | | | | | | | | | 5/20/2024 | | |

| 10.11† | | | | | | | | | [Mutual Separation Agreement and Release dated May 24, 2024, between Jabil Inc. and Gerald (“JJ”) Creadon.](https://www.sec.gov/Archives/edgar/data/898293/000119312524150934/d827156dex101.htm) | | | | | | 8-K | | | | | | 10.1 | | | | | | | | | | | | 5/31/2024 | | |

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| Assets held for sale | | | — | | | | | | 1,929 | | |

| Liabilities held for sale | | | — | | | | | | 1,397 | | |

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

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

See Note 17 – “Business Acquisitions and Divestitures” for additional information.

During the fiscal year ended August 31, 2024, the Company had $47 million of capitalized fulfillment costs which were disposed of as part of the divestiture of the Mobility Business.

See Note 17 - “Business Acquisitions and Divestitures” for additional information.

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| B | | | $ | 120 | | | | | | | | Uncommitted | | | | | | (2) | | |

| D | | | $ | 150 | | | | | | | | Uncommitted | | | | | | May 4, 2028(2) | | |

| F | | | $ | 50 | | | | | | | | Uncommitted | | | | | | (3) | | |

| H | | | $ | 800 | | | | | | | | Uncommitted | | | | | | (2) | | |

| J | | | 8,100 | | | INR | | | | | | Uncommitted | | | | | | (2) | | |

(2)Any party may elect to terminate the agreement upon 30 days prior notice.

(3)Any party may elect to terminate the agreement upon 15 days prior notice.

(1)Excludes $559 million of inventories, net classified as held for sale.

| Construction in progress | | | 193 | | | | | | 147 | | |

(1)Excludes $724 million of property, plant and equipment, net classified as held for sale.

| 2025 | | | $ | 106 | | | | | $ | 129 | | | | | $ | 235 | |

| 2026 | | | 83 | | | | | | 124 | | | | | | 207 | | |

| Total lease payments | | | $ | 425 | | | | | $ | 398 | | | | | $ | 823 | |

In connection with the divestiture of the Company’s Mobility Business, the Company performed an impairment analysis for goodwill recorded within the reporting unit impacted by the divestiture and the indefinite-lived (“Green Point”) trade name during the second quarter of fiscal year 2024.

| | | | EMS | | | | | | DMS | | | | | | Total | | |

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

| Goodwill classified as held for sale | | | — | | | | | | (117) | | | | | | (117) | | |

(1)Excludes $117 million of goodwill classified as held for sale.

| Trade names(1) | | | Indefinite | | | | | | — | | | | | | — | | | | | | — | | | | | | 51 | | | | | | — | | | | | | 51 | | |

(1)In the second quarter of fiscal year 2024 and in connection with the divestiture of the Mobility Business, the Company made a strategic decision that the indefinite-lived (“Green Point”) trade name acquired during the acquisition of Green Point should no longer be classified as an indefinite-lived intangible asset.

| Total | | | $ | 143 | |

| Borrowings under loans | | | Jul 31, 2026 | | | | | | — | | | | | | — | | |

(3)On April 13, 2023, the Company issued $300 million of publicly registered 5.450% Senior Notes due 2029 (the “5.450% Senior Notes”).

The Company used the net proceeds for general corporate purposes, including, together with available cash, repayment of the $300 million aggregate principal amount of the Company’s 4.900% Senior Notes due in July 2023.

The Amendment, among other things, (i) instituted certain amendments to the sustainability-linked adjustments to the interest rates applicable to borrowings under the Company’s three-year revolving credit facility (the “Three-Year Revolving Credit Facility”) and the Company’s five-year revolving credit facility (the “Five-Year Revolving Credit Facility”) and (ii) extended the termination date of the Three-Year Revolving Credit Facility (with respect to the available commitments of the extending lenders) to January 22, 2026, and of the Five-Year Revolving Credit Facility (with respect to the available commitments of the extending lenders) to January 22, 2028, in each case subject to an additional one-year extension at the option of the Company.

| Date: October [removed: 28, 2024] [added: 17, 2025] | | | By: | | | /s/ MICHAEL DASTOOR | | |

| By: | | | /s/ MARK T. MONDELLO | | | | | | Chairman of the Board of Directors | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| By: | | | /s/ STEVEN A. RAYMUND | | | | | | Lead Independent Director | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| By: | | | /s/ MICHAEL DASTOOR | | | | | | Chief Executive Officer [removed: and Director] (Principal Executive Officer) | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| By: | | | /s/ GREGORY B. HEBARD | | | | | | Chief Financial Officer (Principal [removed: Executive] [added: Financial and Accounting] Officer) | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| By: | | | /s/ ANOUSHEH ANSARI | | | | | | Director | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| By: | | | /s/ CHRISTOPHER S. HOLLAND | | | | | | Director | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| By: | | | /s/ JOHN C. PLANT | | | | | | Director | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| By: | | | /s/ JAMES W. SIMINOFF | | | | | | Director | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| By: | | | /s/ N.V. TYAGARAJAN | | | | | | Director | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| By: | | | /s/ KATHLEEN A. WALTERS | | | | | | Director | | | October [removed: 28, 2024] [added: 17, 2025] | | |

| Fiscal year ended August 31, [removed: 2022] [added: 2025] | | | | | | $ | [removed: 85] [added: 63] | | | | | $ | [removed: 23] [added: 26] | | | | | $ | — | | | | | $ | [removed: (26)] [added: (22)] | | | | | $ | [removed: 82] [added: 67] | |

| Fiscal year ended August 31, [removed: 2022] [added: 2025] | | | | | | $ | [removed: 353] [added: 368] | | | | | $ | [removed: 19] [added: 30] | | | | | $ | [removed: (31)] [added: 23] | | | | | $ | [removed: (60)] [added: (21)] | | | | | $ | [removed: 281] [added: 400] | |

| By: | | | /s/ SUJATHA CHANDRASEKARAN | | | | | | Director | | | October 17, 2025 | | |

| | | | Sujatha Chandrasekaran | | | | | | | | | | | |

[Table of](#i3a788cad82a6455591aa8a055255f344_7) [Contents](#i3a788cad82a6455591aa8a055255f344_7)

| By: | | | /s/ DAVID M. STOUT | | | | | | Director | | | October 28, 2024 | | |

| | | | David M. Stout | | | | | | | | | | | |