ALLE

$ 1,033.6 $ 941.9 Cost of goods sold 579.1 56.0 % 519.4 55.1 % Selling and administrative expenses 259.2 25.1 % 226.1 24.0 % Operating income 195.3 18.9 % 196.4 20.9 % Interest expense 24.2 24.7 Other income, net (0.4) (3.5) Earnings before income taxes 171.5 175.2 Provision for income taxes 33.4 27.0 Net earnings $ 138.1 $ 148.2 Diluted net earnings per ordinary share: $ 1.59 $ 1.71 The discussions that follow describe the significant factors contributing to the changes in our results of operations for the p

4,067.3 $ 3,772.2 Cost of goods sold 2,229.0 54.8 % 2,103.7 55.8 % Selling and administrative expenses 978.8 24.1 % 887.8 23.5 % Operating income 859.5 21.1 % 780.7 20.7 % Interest expense 101.0 102.0 Other income, net (9.9) (20.1) Earnings before income taxes 768.4 698.8 Provision for income taxes 124.6 101.3 Net earnings 643.8 597.5 Diluted net earnings per ordinary share: $ 7.44 $ 6.82 The discussions that follow describe the significant factors contributing to the changes in our results of operations for the

long-term financing needs with variable-rate borrowings under the Revolving Facility

including supply chain disruptions and delays, material, electronic component and labor shortages, prolonged periods of cost inflation, and increased interest rates

global macroeconomic challenges, including supply chain disruptions and delays, material, electronic component and labor shortages, prolonged periods of cost inflation, and increased interest rates

per share amounts 2026 2025 Net revenues $ 1,033.6 $ 941.9 Cost of goods sold 579.1 519.4 Selling and administrative expenses 259.2 226.1 Operating income 195.3 196.4 Interest expense 24.2 24.7 Other income, net ( 0.4 ) ( 3.5 ) Earnings before income taxes 171.5 175.2 Provision for income taxes 33.4 27.0 Net earnings $ 138.1 $ 148.2 Earnings per share: Basic net earnings $ 1.60 $ 1.72 Diluted net earnings $ 1.59 $ 1.71 Weighted-average shares outstanding: Basic 86.1 86.3 Diluted 86.6 86.7 Total comprehensive

0 million as compared to the year ended December 31, 2024, primarily due to a lower weighted-average interest rate on our outstanding indebtedness

5 million compared with the same period in 2025, primarily due to a lower weighted-average interest rate on our outstanding indebtedness

At March 31, 2026, the Company’s outstanding borrowings under the Revolving Facility accrued interest at SOFR plus a margin of 1

Through the three months ended March 31, 2026, we have offset inflation due to tariffs with pricing actions

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

including supply chain disruptions and delays, material, electronic component and labor shortages, prolonged periods of cost inflation, and increased interest rates

0 million as compared to the year ended December 31, 2024, primarily due to a lower weighted-average interest rate on our outstanding indebtedness

At March 31, 2026, the Company’s outstanding borrowings under the Revolving Facility accrued interest at SOFR plus a margin of 1

5 million compared with the same period in 2025, primarily due to a lower weighted-average interest rate on our outstanding indebtedness

Given the evolving nature of environmental laws, regulations and technology, the ultimate cost of future compliance is uncertain

The following tables present the summarized financial information specified in Rule 1-02(bb)(1) of Regulation S-X for each issuer and guarantor

not fully protect us against cost increases caused by factors such as new or increased tariffs, changing import duties, market illiquidity and specific local regulations

Regulatory Matters We are subject to a variety of federal, state and local laws and regulations, both within and outside the U

23 Table of Contents The following tables present the summarized financial information specified in Rule 1-02(bb)(1) of Regulation S-X for each issuer and guarantor

shares repurchased will be determined at the discretion of management based on a variety of factors, including, among others, the Company’s stock price, corporate and regulatory requirements, and other general market and economic conditions. Item 5 – Other Information On March 11, 2026, Nickolas A. Musial, Vice President, Controller, Chief Accounting Officer and Treasurer, entered into a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The trading plan was

The following tables present the summarized financial information specified in Rule 1-02(bb)(1) of Regulation S-X for each issuer and guarantor

not fully protect us against cost increases caused by factors such as new or increased tariffs, changing import duties, market illiquidity and specific local regulations

23 Table of Contents The following tables present the summarized financial information specified in Rule 1-02(bb)(1) of Regulation S-X for each issuer and guarantor

shares repurchased will be determined at the discretion of management based on a variety of factors, including, among others, the Company’s stock price, corporate and regulatory requirements, and other general market and economic conditions. Item 5 – Other Information On March 11, 2026, Nickolas A. Musial, Vice President, Controller, Chief Accounting Officer and Treasurer, entered into a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The trading plan was

Given the evolving nature of environmental laws, regulations and technology, the ultimate cost of future compliance is uncertain

Regulatory Matters We are subject to a variety of federal, state and local laws and regulations, both within and outside the U

cancel capital projects or otherwise choose not to make purchases, which could negatively impact the demand for our products and solutions and result in declines in our revenues, profitability and cash flows. In the recent past, our business operations and performance were also impacted by global macroeconomic challenges, including supply chain disruptions and delays, material, electronic component and labor shortages, prolonged periods of cost inflation, and increased interest rates. Negative macroeconomic tr

Voss® and Von Duprin®. Recent Developments Business and Industry Trends and Outlook and Global Trade and Macroeconomic Environment In 2025, we delivered high-single digit revenue growth compared to 2024, driven by favorable pricing and volume growth, as well as the impact from acquisitions made during the year. Demand for electronic security products has also remained strong and continues to be a long-term growth driver. Throughout 2025, the U.S. government announced tariffs on imports from several countries fro

spans more than 40 brands, including brands like CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin. During the year ended December 31, 2025, we generated Net revenues of $4,067.3 million and Operating income of $859.5 million. The following table presents percentage of Net revenues by category. History and Developments We were incorporated in Ireland on May 9, 2013, to hold the commercial and residential security businesses of what was then Ingersoll Rand plc ("Ingersoll Rand"). On December 1, 2013

®. Recent Developments Business and Industry Trends and Outlook and Global Trade and Macroeconomic Environment In the first quarter of 2026, we delivered high-single digit revenue growth compared to the same period in 2025, driven by favorable pricing and the impact from recent acquisitions in both the Allegion Americas and Allegion International segments. Demand for electronic security products has also remained strong and continues to be a long-term growth driver. On February 20, 2026, the U.S. Supreme Court ru

Allegion plc Condensed and Consolidated Statements of Comprehensive Income (Unaudited) Three months ended March 31, In millions, except per share amounts 2026 2025 Net revenues $ 1,033.6 $ 941.9 Cost of goods sold 579.1 519.4 Selling and administrative expenses 259.2 226.1 Operating income 195.3 196.4 Interest expense 24.2 24.7 Other income, net ( 0.4 ) ( 3.5 ) Earnings before income taxes 171.5 175.2 Provision for income taxes 33.4 27.0 Net earnings $ 138.1 $ 148.2 Earnings per share: Basic net earnings $ 1

®. Recent Developments Business and Industry Trends and Outlook and Global Trade and Macroeconomic Environment In the first quarter of 2026, we delivered high-single digit revenue growth compared to the same period in 2025, driven by favorable pricing and the impact from recent acquisitions in both the Allegion Americas and Allegion International segments. Demand for electronic security products has also remained strong and continues to be a long-term growth driver. On February 20, 2026, the U.S. Supreme Court ru

cancel capital projects or otherwise choose not to make purchases, which could negatively impact the demand for our products and solutions and result in declines in our revenues, profitability and cash flows. In the recent past, our business operations and performance were also impacted by global macroeconomic challenges, including supply chain disruptions and delays, material, electronic component and labor shortages, prolonged periods of cost inflation, and increased interest rates. Negative macroeconomic tr

Allegion plc Condensed and Consolidated Statements of Comprehensive Income (Unaudited) Three months ended March 31, In millions, except per share amounts 2026 2025 Net revenues $ 1,033.6 $ 941.9 Cost of goods sold 579.1 519.4 Selling and administrative expenses 259.2 226.1 Operating income 195.3 196.4 Interest expense 24.2 24.7 Other income, net ( 0.4 ) ( 3.5 ) Earnings before income taxes 171.5 175.2 Provision for income taxes 33.4 27.0 Net earnings $ 138.1 $ 148.2 Earnings per share: Basic net earnings $ 1

spans more than 40 brands, including brands like CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin. During the year ended December 31, 2025, we generated Net revenues of $4,067.3 million and Operating income of $859.5 million. The following table presents percentage of Net revenues by category. History and Developments We were incorporated in Ireland on May 9, 2013, to hold the commercial and residential security businesses of what was then Ingersoll Rand plc ("Ingersoll Rand"). On December 1, 2013

Voss® and Von Duprin®. Recent Developments Business and Industry Trends and Outlook and Global Trade and Macroeconomic Environment In 2025, we delivered high-single digit revenue growth compared to 2024, driven by favorable pricing and volume growth, as well as the impact from acquisitions made during the year. Demand for electronic security products has also remained strong and continues to be a long-term growth driver. Throughout 2025, the U.S. government announced tariffs on imports from several countries fro

We do not hedge against all our currency exposure, and therefore, our results of operations will continue to be susceptible to impacts from currency fluctuations

8 % The increase in Net revenues was driven by improved pricing, favorable impact from acquisitions / divestitures, higher volumes and favorable foreign currency exchange rate movements

rates 2

In millions Cash flow hedges Defined benefit items Foreign currency items Total December 31, 2025 $ 4

In millions Cash flow hedges Defined benefit items Foreign currency items Total December 31, 2025 $ 4

8 % The increase in Net revenues was driven by improved pricing, favorable impact from acquisitions / divestitures, higher volumes and favorable foreign currency exchange rate movements

We do not hedge against all our currency exposure, and therefore, our results of operations will continue to be susceptible to impacts from currency fluctuations

rates 2

In the recent past, our business operations and performance were also impacted by global macroeconomic challenges, including supply chain disruptions and delays, material, electronic component and labor shortages, prolonged periods of cost inflation, and increased interest rates

• disruptions in our global supply chain, including product manufacturing and logistical services provided by our supplier partners

• The impacts of market volatility, including but not limited to, impacts of global pandemics, greater than expected inflation, supply chain disruption and delays, declines in pricing, reductions in volumes or fluctuations in foreign currency exchange rates

• Our enterprise excellence capabilities, including our global manufacturing operations and agile supply chain, which facilitate our ability to deliver specific product and system configurations to end-users and consumers worldwide, quickly and efficiently

• disruptions in our global supply chain, including product manufacturing and logistical services provided by our supplier partners

In the recent past, our business operations and performance were also impacted by global macroeconomic challenges, including supply chain disruptions and delays, material, electronic component and labor shortages, prolonged periods of cost inflation, and increased interest rates

• Our enterprise excellence capabilities, including our global manufacturing operations and agile supply chain, which facilitate our ability to deliver specific product and system configurations to end-users and consumers worldwide, quickly and efficiently

• The impacts of market volatility, including but not limited to, impacts of global pandemics, greater than expected inflation, supply chain disruption and delays, declines in pricing, reductions in volumes or fluctuations in foreign currency exchange rates

disruptions or uncertainty related to potential changes to fiscal and monetary policy and/or trade policy, including the imposition, or threatened imposition, of tariffs and potential retaliatory trade restrictions, may make it more challenging for us to manufacture and deliver products to our customers, could cause periodic production interruptions a

announced tariffs on imports from several countries from which we manufacture and/or import products and components

Supreme Court ruled that certain tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were invalid, and in March 2026, the U

announced tariffs on imports from several countries from which we manufacture and/or import products and components

disruptions or uncertainty related to potential changes to fiscal and monetary policy and/or trade policy, including the imposition, or threatened imposition, of tariffs and potential retaliatory trade restrictions, may make it more challenging for us to manufacture and deliver products to our customers, could cause periodic production interruptions a

Supreme Court ruled that certain tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were invalid, and in March 2026, the U

solutions are increasingly more sophisticated and technologically complex than the mechanical security products we sell and have an increased risk of design, cybersecurity or manufacturing defects, which could lead to recalls, product replacements or modifications, write-offs of inventory or other assets and significant warranty and other expenses

proper functioning of our information technology and operational technology systems, including disruption or breaches of our information systems, such as cybersecurity attacks

fund with an additional allocation of $100 million to focus on investing in technologies like artificial intelligence, video monitoring, machine learning and cybersecurity

and support our projected growth. A shortage of these employees for various reasons, including intense competition for skilled employees, labor shortages, increased labor costs, candidates’ preference to work remotely, changes in laws and policies regarding immigration and work authorizations or any government or public health mandates in jurisdictions where we have operations that may result in workforce attrition and difficulty with recruiting, may jeopardize our ability to grow and expand our business

portable locks, key systems, door controls and door control systems, exit devices, doors, electronic security products, access control systems, time and attendance and workforce productivity solutions, among other software and service solutions. This segment’s primary brands are AXA, CISA, ELATEC, Gainsborough, Interflex, and SimonsVoss. Net Revenues Net revenues for the year ended December 31, 2025, increased by 11.7%, or $88.7 million, as compared to the year ended December 31, 2024, due to the following

portable locks, key systems, door controls and door control systems, exit devices, doors, electronic security products, access control systems, time and attendance and workforce productivity solutions, among other software and service solutions. This segment’s primary brands are AXA, CISA, ELATEC, Gainsborough, Interflex, and SimonsVoss. Net Revenues Net revenues for the three months ended March 31, 2026, increased by 21.5%, or $39.6 million, compared to the same period in 2025, due to the following: Pricin

Approximately 45% of employees are employed within the U.S. and approximately 55% based outside the U.S. Among our U.S. based employees, approximately 16% were subject to collective bargaining agreements with various labor unions. Outside the U.S., we have employees in certain countries, particularly in Europe, that are represented by an employee representative organization, such as a works council. We believe our relations with our workforce in both unionized and non-unionized settings are generally positive. T

portable locks, key systems, door controls and door control systems, exit devices, doors, electronic security products, access control systems, time and attendance and workforce productivity solutions, among other software and service solutions. This segment’s primary brands are AXA, CISA, ELATEC, Gainsborough, Interflex, and SimonsVoss. Net Revenues Net revenues for the three months ended March 31, 2026, increased by 21.5%, or $39.6 million, compared to the same period in 2025, due to the following: Pricin

Approximately 45% of employees are employed within the U.S. and approximately 55% based outside the U.S. Among our U.S. based employees, approximately 16% were subject to collective bargaining agreements with various labor unions. Outside the U.S., we have employees in certain countries, particularly in Europe, that are represented by an employee representative organization, such as a works council. We believe our relations with our workforce in both unionized and non-unionized settings are generally positive. T

and support our projected growth. A shortage of these employees for various reasons, including intense competition for skilled employees, labor shortages, increased labor costs, candidates’ preference to work remotely, changes in laws and policies regarding immigration and work authorizations or any government or public health mandates in jurisdictions where we have operations that may result in workforce attrition and difficulty with recruiting, may jeopardize our ability to grow and expand our business

portable locks, key systems, door controls and door control systems, exit devices, doors, electronic security products, access control systems, time and attendance and workforce productivity solutions, among other software and service solutions. This segment’s primary brands are AXA, CISA, ELATEC, Gainsborough, Interflex, and SimonsVoss. Net Revenues Net revenues for the year ended December 31, 2025, increased by 11.7%, or $88.7 million, as compared to the year ended December 31, 2024, due to the following

and international conflict, terrorist acts and other geographical disputes and uncertainties; • the strength and stability of the institutional, commercial and residential construction and remodeling markets; • fluctuations in currency exchange rates; • potential impairment of our goodwill, indefinite-lived intangible assets and/or our long-lived assets; • instability in the U.S. and global capital and credit markets; • our ability to make scheduled debt payments or to refinance our debt oblig

to deploy mobile credentials in a virtual networked environment. 8 Table of Contents Industry and Competition We serve customers within institutional, commercial and residential construction and remodeling markets throughout North America, Europe, Asia and Oceania. We expect the security products industry will continue to benefit from favorable trends such as increased concerns about safety and security, and technology-driven innovation that enables seamless access and a better user experience as people and

conditions, including consumer confidence and disposable income, corporate and government spending, work-from-home trends, availability of credit and demand for new housing and infrastructure. As a result, weakness or instability in one or more of these markets could 12 Table of Contents slow demand for new construction or remodeling projects and cause current and potential customers to delay or cancel capital projects or otherwise choose not to make purchases, which could negatively impact the demand for

and international conflict, terrorist acts and other geographical disputes and uncertainties; • the strength and stability of the institutional, commercial and residential construction and remodeling markets; • fluctuations in currency exchange rates; • potential impairment of our goodwill, indefinite-lived intangible assets and/or our long-lived assets; • instability in the U.S. and global capital and credit markets; • our ability to make scheduled debt payments or to refinance our debt oblig

conditions, including consumer confidence and disposable income, corporate and government spending, work-from-home trends, availability of credit and demand for new housing and infrastructure. As a result, weakness or instability in one or more of these markets could 12 Table of Contents slow demand for new construction or remodeling projects and cause current and potential customers to delay or cancel capital projects or otherwise choose not to make purchases, which could negatively impact the demand for

to deploy mobile credentials in a virtual networked environment. 8 Table of Contents Industry and Competition We serve customers within institutional, commercial and residential construction and remodeling markets throughout North America, Europe, Asia and Oceania. We expect the security products industry will continue to benefit from favorable trends such as increased concerns about safety and security, and technology-driven innovation that enables seamless access and a better user experience as people and

due to increased competition or an inability to develop or launch new products; • The impacts of market volatility, including but not limited to, impacts of global pandemics, greater than expected inflation, supply chain disruption and delays, declines in pricing, reductions in volumes or fluctuations in foreign currency exchange rates; • The level of success of on-going and future research and development efforts, including those related to acquisitions, and increases in the research and development co

the business activities of our key customers and suppliers, including the potential for labor shortages. In particular, the ultimate extent of the impact of any epidemic, pandemic or other global health crisis on our business, financial condition and results of operations will depend on future developments which are highly uncertain and cannot be predicted. We may be subject to risks relating to systems failures or disruptions to our information technology and operational technology systems. We rely extensively

and implement restructuring initiatives or other organizational changes; • global climate change or other unexpected events, including global health crises, such as COVID-19; • the proper functioning of our information technology and operational technology systems, including disruption or breaches of our information systems, such as cybersecurity attacks; • the failure of our third-party vendors to provide effective support for many of the critical elements of our global information and operational tec

the business activities of our key customers and suppliers, including the potential for labor shortages. In particular, the ultimate extent of the impact of any epidemic, pandemic or other global health crisis on our business, financial condition and results of operations will depend on future developments which are highly uncertain and cannot be predicted. We may be subject to risks relating to systems failures or disruptions to our information technology and operational technology systems. We rely extensively

and implement restructuring initiatives or other organizational changes; • global climate change or other unexpected events, including global health crises, such as COVID-19; • the proper functioning of our information technology and operational technology systems, including disruption or breaches of our information systems, such as cybersecurity attacks; • the failure of our third-party vendors to provide effective support for many of the critical elements of our global information and operational tec

due to increased competition or an inability to develop or launch new products; • The impacts of market volatility, including but not limited to, impacts of global pandemics, greater than expected inflation, supply chain disruption and delays, declines in pricing, reductions in volumes or fluctuations in foreign currency exchange rates; • The level of success of on-going and future research and development efforts, including those related to acquisitions, and increases in the research and development co

as implementing operating efficiencies, or we are not able to increase prices to sufficiently offset the effect of various cost increases without negatively impacting customer demand, our margin performance and results of operations would be negatively impacted. Our global operations subject us to political, economic and regulatory risks, including uncertainty related to the imposition of new or increased tariffs and the global trade environment more generally. Our businesses operate around the world in vari

as implementing operating efficiencies, or we are not able to increase prices to sufficiently offset the effect of various cost increases without negatively impacting customer demand, our margin performance and results of operations would be negatively impacted. Our global operations subject us to political, economic and regulatory risks, including uncertainty related to the imposition of new or increased tariffs and the global trade environment more generally. Our businesses operate around the world in vari

in the research and development costs necessary to obtain regulatory approvals and launch new products; and • Volatility in market interest rates that could impact the selection of an appropriate discount rate. The market approach requires determining an appropriate peer group, which is utilized to derive estimated fair values of our reporting units based on selected market multiples. The market approach reflects the market’s expectations for future growth and risk, with adjustments to account for difference

or indirectly, of 10% or more of our voting shares), subject to certain exceptions; • Rules regarding how shareholders may present proposals or nominate directors for election at shareholder meetings; • The right of our Board of Directors to issue preferred shares without shareholder approval in certain circumstances, subject to applicable law; and • The ability of our Board of Directors to set the number of directors and to fill vacancies on our Board of Directors. We believe these provisions will provi

The continual development of new technologies, such as artificial intelligence and machine learning, by existing and new competitors, including non-traditional competitors with significant resources, could adversely affect our ability to sustain operating margins and desirable levels of sales volumes

success, in December 2021, Allegion Ventures announced a second fund with an additional allocation of $100 million to focus on investing in technologies like artificial intelligence, video monitoring, machine learning and cybersecurity

success, in December 2021, Allegion Ventures announced a second fund with an additional allocation of $100 million to focus on investing in technologies like artificial intelligence, video monitoring, machine learning and cybersecurity

The continual development of new technologies, such as artificial intelligence and machine learning, by existing and new competitors, including non-traditional competitors with significant resources, could adversely affect our ability to sustain operating margins and desirable levels of sales volumes

we expect from our strategic initiatives; • our ability to effectively manage and implement restructuring initiatives or other organizational changes; • global climate change or other unexpected events, including global health crises, such as COVID-19; • the proper functioning of our information technology and operational technology systems, including disruption or breaches of our information systems, such as cybersecurity attacks; • the failure of our third-party vendors to provide effective supp

and frames, glass and specialty door systems, as well as a variety of additional security products and components, including hinges, door pulls, door stops, louvers, weather stripping, thresholds and other accessories. Sold under leading brands like Falcon ® , Glynn-Johnson ® , Ives ® , Republic™, Steelcraft ® , TGP ® and Trimco ® ; • Electronic security products and access control systems, including time, attendance and workforce productivity : A broad range of electronic locks, electronic door c

events, including global health crises, may disrupt our operations and have a negative impact on our business. The effects of global climate change, such as extreme weather conditions and natural disasters occurring more frequently or with more intense effects, or the occurrence of unexpected events including wildfires, tornadoes, hurricanes, earthquakes, floods, tsunamis and other severe hazards in the countries where we operate or sell products and services, could adversely affect our business, financial

events, including global health crises, may disrupt our operations and have a negative impact on our business. The effects of global climate change, such as extreme weather conditions and natural disasters occurring more frequently or with more intense effects, or the occurrence of unexpected events including wildfires, tornadoes, hurricanes, earthquakes, floods, tsunamis and other severe hazards in the countries where we operate or sell products and services, could adversely affect our business, financial

we expect from our strategic initiatives; • our ability to effectively manage and implement restructuring initiatives or other organizational changes; • global climate change or other unexpected events, including global health crises, such as COVID-19; • the proper functioning of our information technology and operational technology systems, including disruption or breaches of our information systems, such as cybersecurity attacks; • the failure of our third-party vendors to provide effective supp

and frames, glass and specialty door systems, as well as a variety of additional security products and components, including hinges, door pulls, door stops, louvers, weather stripping, thresholds and other accessories. Sold under leading brands like Falcon ® , Glynn-Johnson ® , Ives ® , Republic™, Steelcraft ® , TGP ® and Trimco ® ; • Electronic security products and access control systems, including time, attendance and workforce productivity : A broad range of electronic locks, electronic door c

control systems, and exit devices CISA, LCN, Stanley Access Technologies, Von Duprin, 2024/2025 CISA Multitop Matic Exit, a secondary lock for single and double leaf aluminum and iron panic doors, brings to market the only "Made in Italy" counter-lock featuring a long faceplate. LCN Senior Swing 9500IQ/2800, self-adjusted auto operator, is a fully loaded controller with innovative AdaptivIQ™ technology, minimizing seasonal adjustments and reducing nuisance calls. Stanley Access Technologies new automatic

internationally, including in Australia, Canada, China, Europe, Mexico, New Zealand and the Middle East

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

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