# EDGAR Filing Document

**Accession Number:** 0001739104
**File Stem:** 0001104659-25-119486
**Filing Date:** 2025-12
**Character Count:** 28714
**Document Hash:** ab3e9a7caeb815181cf01f8c046a8d1d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-119486.hdr.sgml**: 20251209

**ACCESSION NUMBER**: 0001104659-25-119486

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251205

**ITEM INFORMATION**: Cost Associated with Exit or Disposal Activities

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251209

**DATE AS OF CHANGE**: 20251209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Elanco Animal Health Inc
- **CENTRAL INDEX KEY:** 0001739104
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 825497352
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38661
- **FILM NUMBER:** 251557643

**BUSINESS ADDRESS:**
- **STREET 1:** 450 ELANCO CIRCLE
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46221
- **BUSINESS PHONE:** 877-352-6261

**MAIL ADDRESS:**
- **STREET 1:** 450 ELANCO CIRCLE
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46221

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington** **, D. C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of Earliest Event Reported): **December 5, 2025**

**Elanco Animal Health Incorporated**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Indiana** | **001-38661** | **82-5497352** |
| (State or other jurisdiction <br> of incorporation) | (Commission <br> File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **450 Elanco Circle**<br> **Indianapolis, Indiana**<br> (Address of principal executive offices) | **46221**<br> (Zip Code) |

---

Registrant's telephone number, including area code: **(877) 352-6261**

 **Not Applicable**

(Former Name or Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | |
|:---|:---|
| **Title of each class** | &nbsp;&nbsp;**Name of each exchange on which<br> registered** |
| Common stock, no par value &nbsp;&nbsp;ELAN | &nbsp;&nbsp;New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

◻ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

---

| | |
|:---|:---|
| **Item 2.05** | **Costs Associated with Exit or Disposal Activities.** |

---

On December 5, 2025, the Board of Directors of Elanco Animal Health Incorporated (the "Company") authorized a restructuring plan with respect to its workforce (the "Restructuring Plan") to support margin expansion, optimize the Company's footprint, and further invest in innovation. The Restructuring Plan will result in a global headcount reduction of approximately 300 employees, plus an approximate 300 employees whose positions will be replaced with positions in growth areas or in lower-cost geographies. Expected pretax charges associated with the Restructuring Plan total approximately $175 million, the majority of which will be incurred in 2025, including an estimated $130 million of cash-based costs, most of which is expected to be paid in the next 2 years, and an estimated $45 million of non-cash asset impairment charges primarily related to the Company's closure of its Kansas City, Missouri implant facility and exit from a portion of its Monheim, Germany facility.

---

| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.** |

---

On December 9, 2025, the Company issued a press release in connection with its 2025 Investor Day announcing the Company's innovation and financial outlook, including reaffirming its fourth quarter and full year 2025 guidance, and describing other matters including the Restructuring Plan. A copy of the press release is attached hereto as Exhibit 99.1.

The information in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [99.1](tm2533048d1_ex99-1.htm) | [Press Release issued by Elanco Animal Health Incorporated, dated as of December 9, 2025.](tm2533048d1_ex99-1.htm) |
| 104.1 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Elanco Animal Health Incorporated** | **Elanco Animal Health Incorporated** |
| Date: December 9, 2025 | By: | /s/ Robert M. VanHimbergen |
|  |  | Name: Robert M. VanHimbergen |
|  |  | Title: Executive Vice President, Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![](tm2533048d1_ex99-1img001.jpg) | &nbsp;&nbsp;&nbsp;**Elanco Animal Health**<br>450 Elanco Circle<br>Indianapolis, IN 46221 |

---

**FOR IMMEDIATE RELEASE**

Investor Contact: Tiffany Kanaga (765) 740-0314 <u>tiffany.kanaga@elancoah.com</u>

Media Contact: Colleen Parr Dekker (317) 989-7011 <u>colleen.dekker@elancoah.com</u>

**Elanco Investor Day Defines New Era as Sustainable Growth Company**

· Details
 three-year outlook with annual mid-single digit top-line organic constant currency growth
 driven by a consistent flow of high-impact innovation, high-single digit adjusted EBITDA
 growth and low double-digit adjusted EPS growth, all starting in 2026. Expects further net
 leverage ratio improvement to <3x in 2027, with a long-term target of 2.0x to 2.5x.

· Expects
 innovation revenue contribution of approximately $1.1 billion in 2026, with aims to double
 revenue from 'Big 6' blockbuster potential products by 2028.

· Discusses
 10+ major innovation products in development phase with 5-6 blockbuster-potential approvals
 expected between 2026 and 2031. Two in-house technology development platforms contributing
 to next wave innovation pipeline: monoclonal antibody discovery and immuno-therapeutics.

· Announces
 intended closure of German animal R&D facility and targeted reduction to manufacturing
 workforce along with increased investment in Elanco Innovation Laboratories at its Indiana
 headquarters and continued investments in U.S. manufacturing as we have greater clarity on
 U.S. tariffs and accelerated USDA regulatory timelines. This includes an accelerated conditional
 approval pathway for a potential first-in-class immuno-therapeutic major pet blockbuster,
 expected in the next 2-3 years.

· Announces
 technical sections complete for Befrena™ (tirnovetmab), the company's IL-31 injectable
 monoclonal antibody for canine dermatitis, with expected differentiation in efficacy, convenience
 and value. Remains cautiously optimistic that administrative review and approval will be
 complete in Q4 2025.

· Expects
 $200 to $250 million in adjusted EBITDA savings from Elanco Ascend by 2030.

· Announces
 restructuring as part of Elanco Ascend to support margin expansion, optimize footprint and
 further increase innovation capacity. Creates an expected restructuring charge of approximately
 $175 million, of which approximately $130 million is expected to be cash-based costs. Expects
 savings of approximately $25 million in 2026 and approximately $60 million in 2027.

· Reaffirms
 Q4 and full year 2025 revenue and adjusted earnings guidance.

**INDIANAPOLIS, Ind.** (Dec. 9, 2025) **–** Elanco Animal Health Incorporated (NYSE: ELAN) hosts its first Investor Day in five years this morning, marking a pivotal moment as the company further defines its new era of sustainable growth and long-term value creation. Elanco will detail how its consistent Innovation, Portfolio, and Productivity (IPP) strategy is designed to guide the company's transformation to a sustainable growth company, delivering consistent mid-single digit organic constant currency revenue growth and adjusted EBITDA margin expansion, while further strengthening its balance sheet and accelerating cash flow.

"Today is a pivotal day for Elanco. We stand as a stronger Elanco ready for our next chapter as a sustainable growth company," said Jeff Simmons, President and CEO at Elanco. "As we outline our financial outlook for the next three years, we are poised for significant growth. Our IPP strategy is delivering, our innovation engine is stronger than ever, and our team has built deep, lasting customer relationships that reinforce our confidence in our ability to win in the animal health market. Elanco is well-positioned to continue transforming, building a future where we expand our leadership and achieve consistent, reliable delivery against our priorities of growth, innovation and cash. We will bring high-impact innovation to customers – ultimately driving sustainable shareholder value while making life better for animals and the people who care for them."

**Financial Outlook for Consistent Growth**

Elanco will outline a new three-year financial outlook with the expected annual results beginning in 2026, underscoring the company's confidence in delivering strong, consistent performance:

&nbsp;&nbsp;&nbsp;&nbsp;· **Revenue Growth:** Mid-single digit organic constant currency

&nbsp;&nbsp;&nbsp;&nbsp;· **Adjusted EBITDA Growth:** High single digit

&nbsp;&nbsp;&nbsp;&nbsp;· **Adjusted EPS Growth:** Low double digit

&nbsp;&nbsp;&nbsp;&nbsp;· **Free Cash Flow:** At least $1 billion over the period from 2026 through 2028

&nbsp;&nbsp;&nbsp;&nbsp;· **Net Leverage Ratio:** Achieving <3x in 2027, with a long-term target of 2.0x to 2.5x

**American Investment Driven by Tax, Tariff and Regulatory Clarity**

Elanco today announces continued investment in its U.S. operations, work force and communities over the next five years. This investment deepens Elanco's commitment to product innovation, advanced manufacturing and its customers – farmers, veterinarians and pet owners. The company will **expand its R&D presence in its new Indianapolis global headquarters** and surrounding OneHealth Innovation District, while continuing to **invest in its U.S.-based manufacturing footprint**. Elanco will further invest in its Kansas monoclonal antibody (mAb) manufacturing facility to support innovation, particularly a major next generation immuno-therapeutic pet innovation. The U.S. Department of Agriculture (USDA) has **granted an accelerated pathway for conditional approval of a novel immuno-therapeutic** that has the potential to be a first-in-class major pet health blockbuster, expected in the next 2-3 years.

Additionally, as part of the positive engagement with the USDA, Elanco announces significant progress in the final steps of the approval of **Befrena™**, its newest potential blockbuster product. Review of all technical sections and label alignment is now complete, with the final administrative review underway at the USDA. Befrena has demonstrated differentiated efficacy in treating dogs with allergic dermatitis and canine atopic dermatitis. In both laboratory and field studies, Befrena has shown to be safe and well-tolerated, offering a dependable treatment option for veterinary professionals and pet owners alike. **Befrena will offer important efficacy, convenience and value differentiators.** Elanco continues to expect a first half 2026 launch.

In connection with these investments, Elanco expects the 2026 net tariff impact to be immaterial to adjusted EBITDA growth, given additional tariff clarity and a positive offset from an incremental price increase.

The combination of a favorable tax environment from the One Big Beautiful Bill Act, regulatory reform resulting in improved timelines for USDA regulatory reviews and greater certainty on tariffs has created favorable conditions for the continuation of U.S. investments in R&D and manufacturing, while bringing key innovation capabilities from Europe to the U.S.

**Innovation: Delivering a Consistent Flow of High-Impact Innovation**

Since defining its basket of innovation in December of 2020, Elanco has repeatedly raised the bar on its innovation target. Elanco now expects this **innovation to generate approximately $1.1 billion in revenue in 2026**, an increase of over $200 million from $840 to $880 million expected in 2025.

Looking ahead at Elanco's next wave of innovation, the company has **increased its target innovation areas** to eight and added two new major internal development platforms with **monoclonal antibodies** (mAbs) **and immunotherapy.** Elanco has **10+ major innovation projects with blockbuster potential in development**, expecting approvals for **5-6 major differentiated assets** from this pipeline between 2026 and 2031. These differentiated pipeline assets represent an unprobabilized potential peak sales value of more than $2 billion – effectively doubling the value of the last wave.

"Over the past several years, Elanco has created a one-of-a-kind innovation powerhouse that has maximized capacity and throughput, delivering a continuous flow of differentiated products," said Dr. Ellen de Brabander, Executive Vice President of Innovation and Regulatory Affairs at Elanco. "There are more projects and more value in the pipeline than ever, and we've added cutting edge in house monoclonal and immunotherapy technology development platforms. We will continue to invest in the capacity and capabilities to bring new solutions to market that help pets live heathier, more active, longer lives and help farmers improve animal health, welfare and sustainability."

**Diverse Market-Leading Portfolio: Positioned for Sustained Growth**

Elanco is innovating in large, growing markets, supported by a strong, diverse portfolio. This includes leading growth in U.S. Pet Health and #1 positions in global pet retail and poultry, U.S. beef and swine. Elanco expects to **double revenue from its 'Big 6' potential blockbuster products from 2025 to 2028** as it globalizes this basket of innovation (AdTab<sup>TM</sup>, Befrena, Bovaer®, Credelio Quattro<sup>TM</sup>, Experior®, Zenrelia<sup>TM</sup>).

**Productivity: Driving Margin Expansion and Free Cash Flow**

Elanco's commitment to operational excellence and financial discipline is a cornerstone of its strategy, with a clear path to expanding margins, improving free cash flow and becoming a simpler, more efficient company. The company anticipates meaningful adjusted EBITDA improvement with high single-digit percentage growth, and free cash flow generation increasing through the period.

Elanco is also announcing organizational changes designed to **generate approximately $25 million and $60 million in savings in 2026 and 2027**, respectively, as part of its Elanco Ascend productivity initiative.

These strategic adjustments include:

· **Transforming and Investing in Innovation:** A larger, more complex pipeline requires more capacity,
 new technical capabilities and increased investment. As such, Elanco is expanding its R&D
 organization in Indianapolis, refining its regulatory structure and proposing the closure
 of its Germany animal facility. The company also announces a strategic partnership with The
 Clinglobal Group to substantially expand capacity and capabilities, while being significantly
 more cost effective.

· **Optimizing Manufacturing Footprint:** Elanco will continue to optimize its manufacturing footprint
 to power its pipeline, adjust to future volume expectations and continue the organization's
 productivity journey, including reducing workforce in higher-cost locations.

Approximately 600 roles will be impacted across Elanco with 300 eliminated positions and 300 shifted to other areas or locations. The company expects a charge of approximately $175 million, of which about $130 million is expected to be cash based.

In total, the company **expects its Elanco Ascend program to deliver $200 to $250 million in adjusted EBITDA savings by 2030**, with about 30% achieved in 2026.

"Our goal is clear: consistent, reliable delivery," said Bob VanHimbergen, Executive Vice President and CFO at Elanco. "We are taking the steps needed to become a more efficient, productive company, ensuring our resources are in the right places to fuel our no-regrets launches and invest in our pipeline while deleveraging and delivering on adjusted EBITDA margin growth. As we move into the second half of the decade, Elanco expects to deliver durable, profitable growth and sustained cash generation while creating lasting value for shareholders.

In conjunction with today's event, Elanco is reaffirming its fourth quarter and fiscal 2025 outlook, provided on November 5, 2025, other than reported net loss and net loss per share, which will be impacted by the aforementioned restructuring charges.

**WEBCAST**

Elanco will host a webcast from approximately 9 a.m. to 12 p.m. Eastern Time today, featuring presentations from Elanco's senior leadership team on the company's strategic priorities, financial outlook, and innovation pipeline – defining Elanco's new era as a sustainable growth company. Access for the live webcast and related materials is available on Elanco's Investor Events and Presentations website. A replay will be available on the website following the event.

**ABOUT ELANCO**

Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders and society as a whole. With 70 years of animal health heritage, we are committed to breaking boundaries and going beyond to help our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching Life and our purpose – all to Go Beyond for Animals, Customers, Society and Our People. Learn more at <u>www.elanco.com</u>.

**CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS**

This press release contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements concerning product launches and revenue from such products, our 2025 full year and fourth quarter guidance and long-term expectations, our expectations regarding debt levels, and expectations regarding our industry and our operations, performance and financial condition, and including, in particular, statements relating to our business, growth strategies, distribution strategies, product development efforts and future expenses.

Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important risk factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including but not limited to the following:

&nbsp;&nbsp;&nbsp;&nbsp;· operating
 in a highly competitive industry;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 success of our research and development (R&D), regulatory approval and licensing efforts;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 impact of disruptive innovations and advances in veterinary medical practices, animal health
 technologies and alternatives to animal-derived protein;

&nbsp;&nbsp;&nbsp;&nbsp;· competition
 from generic products that may be viewed as more cost-effective;

&nbsp;&nbsp;&nbsp;&nbsp;· changes
 in regulatory restrictions on the use of antibiotics in farm animals;

&nbsp;&nbsp;&nbsp;&nbsp;· an
 outbreak of infectious disease carried by farm animals;

&nbsp;&nbsp;&nbsp;&nbsp;· risks
 related to the evaluation of animals;

&nbsp;&nbsp;&nbsp;&nbsp;· consolidation
 of our customers and distributors;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 impact of increased or decreased sales into our distribution channels resulting in fluctuations
 in our revenues;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 dependence on the success of our top products;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 ability to complete acquisitions and divestitures and to successfully integrate the businesses
 we acquire;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 ability to implement our business strategies or achieve targeted cost efficiencies and gross
 margin improvements;

&nbsp;&nbsp;&nbsp;&nbsp;· manufacturing
 problems and capacity imbalances, including at our contract manufacturers;

&nbsp;&nbsp;&nbsp;&nbsp;· fluctuations
 in inventory levels in our distribution channels;

&nbsp;&nbsp;&nbsp;&nbsp;· risks
 related to the use of artificial intelligence in our business;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 dependence on sophisticated information technology systems and infrastructure, including
 the use of third-party, cloud-based technologies, and the impact of outages or breaches of
 the information technology systems and infrastructure we rely on;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 impact of weather conditions, including those related to climate change, and the availability
 of natural resources;

&nbsp;&nbsp;&nbsp;&nbsp;· demand,
 supply and operational challenges associated with the effects of a human disease outbreak,
 epidemic, pandemic or other widespread public health concern;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 loss of key personnel or highly skilled employees;

&nbsp;&nbsp;&nbsp;&nbsp;· adverse
 effects of labor disputes, strikes and/or work stoppages;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 effect of our substantial indebtedness on our business, including restrictions in our debt
 agreements that limit our operating flexibility and changes in our credit ratings that lead
 to higher borrowing expenses and restrict access to credit;

&nbsp;&nbsp;&nbsp;&nbsp;· changes
 in interest rates that adversely affect our earnings and cash flows;

&nbsp;&nbsp;&nbsp;&nbsp;· risks
 related to the write-down of goodwill or identifiable intangible assets;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 lack of availability or significant increases in the cost of raw materials;

&nbsp;&nbsp;&nbsp;&nbsp;· risks
 related to foreign and domestic economic, political, legal and business environments;

&nbsp;&nbsp;&nbsp;&nbsp;· risks
 related to foreign currency exchange rate fluctuations;

&nbsp;&nbsp;&nbsp;&nbsp;· risks
 related to underfunded pension plan liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;· our
 current plan not to pay dividends and restrictions on our ability to pay dividends;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 potential impact that actions by activist shareholders could have on the pursuit of our business
 strategies;

&nbsp;&nbsp;&nbsp;&nbsp;· risks
 related to tax expense or exposures;

&nbsp;&nbsp;&nbsp;&nbsp;· actions
 by regulatory bodies, including as a result of their interpretation of studies on product
 safety;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 possible slowing or cessation of acceptance and/or adoption of our farm animal sustainability
 initiatives;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 impact of increased regulation or decreased governmental financial support related to the
 raising, processing or consumption of farm animals;

&nbsp;&nbsp;&nbsp;&nbsp;· risks
 related to tariffs, trade protection measures or other modifications of foreign trade policy;

&nbsp;&nbsp;&nbsp;&nbsp;· the
 impact of litigation, regulatory investigations and other legal matters, including the risk
 to our reputation and the risk that our insurance policies may be insufficient to protect
 us from the impact of such matters;

&nbsp;&nbsp;&nbsp;&nbsp;· challenges
 to our intellectual property rights or our alleged violation of rights of others;

&nbsp;&nbsp;&nbsp;&nbsp;· misuse,
 off-label or counterfeiting use of our products;

&nbsp;&nbsp;&nbsp;&nbsp;· unanticipated
 safety, quality or efficacy concerns and the impact of identified concerns associated with
 our products;

&nbsp;&nbsp;&nbsp;&nbsp;· insufficient
 insurance coverage against hazards and claims;

&nbsp;&nbsp;&nbsp;&nbsp;· compliance
 with privacy laws and security of information;

&nbsp;&nbsp;&nbsp;&nbsp;· risks
 related to environmental, health and safety laws and regulations; and

&nbsp;&nbsp;&nbsp;&nbsp;· inability
 to achieve goals or meet expectations of stakeholders with respect to environmental, social
 and governance matters.

For additional information about the factors that could cause actual results to differ materially from forward-looking statements, please see the company's latest Form 10-K and Form 10-Qs filed with the Securities and Exchange Commission. Although we have attempted to identify important risk factors, there may be other risk factors not presently known to us or that we presently believe are not material that could cause actual results and developments to differ materially from those made in or suggested by the forward-looking statements contained in this press release. If any of these risks materialize, or if any of the above assumptions underlying forward-looking statements prove incorrect, actual results and developments may differ materially from those made in or suggested by the forward-looking statements contained in this press release. We caution you against relying on any forward-looking statements, which should also be read in conjunction with the other cautionary statements that are included elsewhere in this press release. Any forward-looking statement made by us in this press release speaks only as of the date thereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or to revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should be viewed as historical data.

**Use of Non-GAAP Financial Measures**

This press release contains forward-looking non-GAAP financial measures, such as organic constant currency revenue growth, adjusted EBITDA growth, adjusted EPS growth, free cash flow and net debt leverage. We have not provided related GAAP financial measures for forward-looking non-GAAP financial measures because we are unable to predict with reasonable certainty and without unreasonable effort the timing and impact of certain items, such as restructuring and certain non-cash items, which could significantly impact our GAAP results. These non-GAAP measures are not, and should not be viewed as, substitutes for GAAP reported measures.