Stryker (SYK) risk factors: FY2025 10-K

1. We use a variety of raw materials, components, devices and third-party services in our global supply chains, production and distribution processes; significant shortages, price increases or unavailability of third-party services have in the past increased, and could in the future increase, our operating costs and could require significant capital expenditures or adversely impact the competitive position of our products
2. We are subject to pricing pressures as a result of cost containment measures in the United States and other countries and other factors, including changes in reimbursement practices and coverage policies and third- party payor cost containment measures
3. We operate in a highly competitive industry in which competition and the regulatory burden in the development and improvement of new and existing products isreworded
4. We may be unable to maintain adequate working relationships with healthcare professionals
5. We rely on indirect distribution channels and major distributors that are independent of Stryker
6. We may be unable to capitalize on previous or future acquisitions
7. We, our business partners or our third-party vendors could experience a material failure or breach of a key information technology system, network, process or site
8. An inability to successfully manage the implementation of our new commercial global enterprise resource planningnew
9. (ERP) system could adversely affect our operations and operating resultsnew
10. We may be unable to attract, develop and retain executives and key employees
11. Interruption of manufacturing operations could adversely affect our business
12. Our insurance program may not be adequate to cover futurereworded
13. We have experienced, and may continue to experience, a significant and unpredictable need to adjust our operations as market demand for certain of our products has shifted and continues to shift or as may be mandated by governmental authorities
14. Our use of AI and other emerging technologies could adversely impact our business and financial resultsAI
15. Pandemics and public health emergencies, and the fear thereof, have in the past materially adversely affected and could in the future materially adversely affect, our operations, supply chain, manufacturing, product distribution, customers and other business activities:

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1. Current economic and political conditions make tax rules in jurisdictions subject to significant changenew
2. We could be negatively impacted by future changes in the allocation of income to each of the income tax jurisdictions in which we operatenew
3. The impact of healthcare reform legislation on our business remains uncertain
4. We are subject to extensive governmental regulation relating labeling, marketing and sale of our productsreworded
5. We are subject to federal, state and foreign healthcare regulations, including anti-bribery, anti-corruption, anti- kickback and false claims laws, globally and could face substantial penalties if we fail to comply with such regulations and laws
6. We are subject to privacy, data protection and data security regulations and laws globally, and could face substantial penalties if we fail to comply with such regulations and laws:
7. unfavorable court decisions or legal settlementsnew
8. Intellectual property litigation and infringement claims could cause us to incur significant expenses or prevent us from selling certain of our products
9. Dependence on intellectual proprietary rights and failing to protect such rights or to be successful in litigation related to such rights may impact offerings in our product portfolios:

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1. Additional capital that we may require in the future may not be available to us or may only be available to us on unfavorable terms, which could negatively affect ourreworded

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1. We could be negatively impacted by evolving requirements and expectations related to corporate responsibility and sustainability-related matters, including those related toreworded
2. Physical weather events, as well as legal, regulatory or market measures related to environmental, climate and other sustainability matters, could adversely affect our operations and operating resultsnew

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Headings in the FY2024 10-K with no match this year.

1. We are subject to risks associated with our extensive global operations
2. An inability to successfully manage the implementation of our new commercial global enterprise resource planning (ERP) system could adversely affect our operations and operating results
3. We may be adversely affected by product liability claims, unfavorable court decisions or legal settlements
4. We have exposure to exchange rate fluctuations on cross border transactions and translation of local currency results into United States Dollars
5. Physical effects of climate change or legal, regulatory or market measures intended to address climate change could adversely affect our operations and operating results