Financial Analysis

"Note 14: Commitments and Contingencies Environmental Matters From time to time, we become aware of compliance matters relating to, or receive notices from, federal, state or local entities regarding possible or alleged violations of environmental, health or safety laws and regulations. We review the circumstances of each individual site, considering the number of parties involved, the level of potential liability or our contribution relative to the other parties, the nature and magnitude of the hazardous substances involved, the method and extent of remediation, the estimated legal and consulting expense with respect to each site and the time period over which any costs would likely be incurred. Also, from time to time, we are identified as a potentially responsible party (PRP) under the Comprehensive Environmental Response, Compensation and Liability Act (""CERCLA"") and/or similar state laws that impose liability for costs relating to the clean up of contamination resulting from past spills, disposal or other release of hazardous substances. We are also subject to similar laws in some of the countries where current and former facilities are located. Our environmental, health and safety department monitors compliance with applicable laws on a global basis. To the extent we can reasonably estimate the amount of our probable liabilities for environmental matters, we establish an undiscounted financial provision. We recorded liabilities of $2,625 and $3,445 as of November 29, …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Note 7: Notes Payable, Long-Term Debt and Lines of Credit Notes Payable We did not have any outstanding notes payable balance at November 29, 2025 and a balance of $587 at November 30, 2024 . Notes payable primarily represents various foreign subsidiaries other short-term borrowings that were not part of committed lines. The weighted-average interest rate on short-term borrowings outstanding was 1.35 percent in 2024 . Fair values of these short-term obligations approximate their carrying values due to their short maturity. There were no funds drawn from the short-term committed lines at November 29, 2025 . Long-Term Debt Weighted-Average Fiscal Year Balance at Balance at Interest Rate at Maturity November 29, November 30, Long-Term Debt November 29, 2025 Date 2025 2024 Revolving credit facility 5.52 % 2028 $ 36,000 $ - Term Loan A 1 5.52 % 2028 431,250 462,500 Term Loan B 2 5.67 % 2030 979,146 989,030 Public Notes 3 4.00 % 2027 300,000 300,000 Public Notes 4 4.25 % 2028 300,000 300,000 Other, including debt issuance cost and discount (29,459 ) (41,478 ) Total debt $ 2,016,937 $ 2,010,052 Less: current maturities - - Total long-term debt, excluding current maturities $ 2,016,937 $ 2,010,052 1 Term Loan A, due on February 15, 2028, $500,000 variable rate at the Secured Overnight Financing Rate (""SOFR"") plu s an adjustment of 0.10 percent and an interest rate spread of 1.50 percent based on a leverage grid (5.52 p ercent at November 29, 2025 ). 2 Term Loan B, due on February …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

November 29, 2025 Hygiene, Health and Consumable Engineering Building Adhesive Corporate Adhesives Adhesives Solutions Unallocated Total Americas $ 867,316 $ 449,607 $ 465,363 $ - $ 1,782,286 EIMEA 476,718 235,544 334,343 - 1,046,605 Asia Pacific 207,755 376,628 60,315 - 644,698 $ 1,551,789 $ 1,061,779 $ 860,021 $ - $ 3,473,589 November 30, 2024 Hygiene, Health and Consumable Engineering Building Adhesive Corporate Adhesives Adhesives Solutions Unallocated Total Americas $ 884,512 $ 414,568 $ 455,280 $ 156,657 $ 1,911,017 EIMEA 454,336 233,560 338,273 - 1,026,169 Asia Pacific 207,697 360,903 62,950 - 631,550 $ 1,546,545 $ 1,009,031 $ 856,503 $ 156,657 $ 3,568,736 December 2, 2023 Hygiene, Health and Consumable Engineering Building Adhesive Corporate Adhesives Adhesives Solutions Unallocated Total Americas $ 921,934 $ 379,488 $ 406,647 $ 152,797 $ 1,860,866 EIMEA 480,483 235,922 305,482 - 1,021,887 Asia Pacific 205,190 357,602 65,389 - 628,181 $ 1,607,607 $ 973,012 $ 777,518 $ 152,797 $ 3,510,934

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Note 9: Accounting for Share-Based Compensation Overview We have various share-based compensation programs, which provide for equity awards including non-qualified stock options, incentive stock options, restricted stock units, performance awards and deferred compensation. These equity awards fall under several plans and are described below. Share-based Compensation Plans We currently grant stock options and restricted stock units under equity compensation and deferred compensation plans. Stock options are granted to officers and key employees at prices not less than the fair market value at the date of grant. Non-qualified stock options are generally exercisable beginning one year from the date of grant in cumulative yearly amounts of 33.3 percent. Incentive stock options are based on certain performance-based criteria and are generally exercisable at a stated date when the performance criteria is measured. Stock options generally have a contractual term of 10 years. Options exercised represent newly issued shares. Restricted stock awards are nonvested stock-based awards that include grants of restricted stock units. Restricted stock awards are independent of option grants and are subject to forfeiture if employment terminates prior to the release of the restrictions. Time-based restricted stock awards generally vest beginning one year from the date of grant or 33.3 percent per year for three years, depending on the grant. Performance-based restricted stock awards vest three …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Note 13: Fair Value Measurements Overview Estimates of fair value for financial assets and liabilities are based on the framework established in the accounting guidance for fair value measurements. The framework defines fair value, provides guidance for measuring fair value and requires certain disclosures. The framework discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The framework utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs that reflect managements assumptions, and include situations where there is little, if any, market activity for the asset or liability. Balances Measured at Fair Value on a Recurring Basis The following table presents information about our financial assets and liabilities tha …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Note 5: Goodwill and Other Intangible Assets Goodwill balances by reportable segment consisted of the following: Hygiene, Health Building and Consumable Engineering Adhesive Adhesives Adhesives Solutions As of November 30, 2024 $ 399,513 $ 581,344 $ 551,364 Acquisitions 90,593 7,517 (860 ) Foreign currency translation effect 27,657 21,246 1,685 As of November 29, 2025 $ 517,763 $ 610,107 $ 552,189 As discussed in Note 15, Segments , as of the beginning of the fiscal year 2025, we reorganized our operating segments with the renamed Building Adhesive Solutions segment, which includes all of the former Construction Adhesives goodwill. A portion of the Engineering Adhesives goodwill was reclassified to the Building Adhesive Solutions segment based on the relative fair value approach. Prior period segment information has been recast retrospectively to reflect the realignment. Balances of amortizable identifiable intangible assets, excluding goodwill and other non-amortizable intangible assets, are as follows: Purchased Technology Customer Amortizable Intangible Assets and Patents Relationships Tradename Total As of November 29, 2025 Original cost $ 232,522 $ 998,889 $ 81,228 $ 1,312,639 Impairment - - (734 ) (734 ) Accumulated amortization (57,778 ) (414,706 ) (33,554 ) (506,038 ) Net identifiable intangibles $ 174,744 $ 584,183 $ 46,940 $ 805,867 Weighted-average useful lives (in years) 14 16 13 16 As of November 30, 2024 Original cost $ 155,344 $ 1,063,210 $ 67,280 $ 1,285,834 I …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Note 11: Income Taxes Income before income taxes and income from equity method investments 2025 2024 2023 United States $ (6,541 ) $ (46,064 ) $ 15,276 Non-U.S. 221,959 228,727 218,884 Total $ 215,418 $ 182,663 $ 234,160 Components of the provision for income tax expense (benefit) 2025 2024 2023 Current: U.S. federal $ 23,754 $ 14,150 $ 18,347 State 5,046 4,104 5,529 Non-U.S. 78,930 92,721 87,449 107,730 110,975 111,325 Deferred: U.S. federal (33,712 ) (44,784 ) (100 ) State (2,907 ) (4,442 ) (4,111 ) Non-U.S. (3,982 ) (5,368 ) (13,585 ) (40,601 ) (54,594 ) (17,796 ) Total $ 67,129 $ 56,381 $ 93,529 Reconciliation of effective income tax 2025 2024 2023 Tax at statutory U.S. federal income tax rate $ 45,238 $ 38,359 $ 49,174 State income taxes, net of federal benefit 1,635 (307 ) 1,137 Foreign dividend repatriation 12,567 1,943 21,730 Foreign operations 13,620 13,232 12,558 Executive compensation over $1.0 million 1,834 1,690 784 Non-U.S. stock option expense 630 676 730 Change in valuation allowance 398 (1,800 ) 725 Research and development tax credit (1,480 ) (1,460 ) (1,400 ) Foreign-derived intangible income (1,718 ) (625 ) (2,665 ) Global intangible low-taxed income 2,124 1,581 2,345 Provision to return 1,314 (1,595 ) 1,336 Contingency reserve (10,778 ) 3,416 5,951 Excess tax benefit related to stock options and restricted stock (248 ) (3,083 ) (850 ) Goodwill impairment related to North America Flooring - 2,373 - Other 1,993 1,981 1,974 Total income tax expense $ 67,129 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"New Accounting Pronouncements In November 2024, the FASB issued Accounting Standards Update (""ASU"") No. 2024 - 03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220 - 40 ): Disaggregation of Income Statement Expenses , which requires additional disclosure of the nature of expenses included in our Consolidated Financial Statements. Our effective date of this ASU is our fiscal year ending December 2, 2028. We are currently evaluating the impact of adopting this guidance on the related financial statement disclosures. In December 2023, the FASB issued ASU No. 2023 - 09, Income Taxes (Topic 740 ): Improvements to Income Tax Disclosures . This ASU requires entities to provide additional information in the rate reconciliation and additional disclosures about income taxes paid. This guidance requires public entities to disclose in their rate reconciliation table additional categories of information about federal, state, and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. Our effective date of this ASU is our fiscal year ending November 28, 2026. We are currently evaluating the impact of adopting this guidance on the related financial statement disclosures. In November 2023, the FASB issued ASU No. 2023 - 07, Segment Reporting (Topic 280 ): Improvements to Reportable Segment Disclosures. This ASU requires enhanced disclosures regarding sign …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Note 10: Pension and Postretirement Benefits Defined Contribution Plan All U.S. employees have the option of contributing up to 75 percent of their pre-tax earnings to a 401 (k) plan, subject to IRS limitations. We match up to the first 4 percent of each employee's pre-tax earnings, based on the employees contributions. All U.S. employees are eligible for a separate annual non-discretionary retirement contribution to the 401 (k) plan of 1 percent of pay, that is invested based on the election of the individual participant. The 1 percent contribution is in addition to our 4 percent matching contribution described above and is in lieu of participation in our defined benefit pension plan. The total contribution to the 401 (k) plan for 2025 was $16,537 which included the cost of the 4 percent company match of $10,389 and the additional 1 percent contribution of $6,148. T he total contributions to the 401 (k) plan were $15,590 and $14,221 in 2024 and 2023 , respectively. All U.S. employees are eligible to receive an annual discretionary non-elective contribution to the 401 (k) plan of up to 3 percent based on achieving the Companys earnings per share target. This discretionary contribution is in addition to the contributions described above. There was $2,819 accrued for a discretionary non-elective contribution for 2025 and no discretionary non-elective contribution for 2024. The defined contribution plan liability recorded in the Consolidated Balance Sheets was $13,011 and $11,99 …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

"Note 3: Restructuring Actions During fiscal year 2023 , the Company approved restructuring plans (the ""Plans"") related to organizational changes and other actions to optimize operations and integrate acquired businesses. The Plans began to be implemented in the second quarter of fiscal year 2023 and were completed as of November 29, 2025. Remaining cash payments will continue into fiscal year 2026. In implementing the Plans, the Company currently expects to incur pre-tax costs of approximately $80,000 to $85,000 for severance and related employee costs globally, and other restructuring costs related to the streamlining of processes and the payment of anticipated income taxes in certain jurisdictions related to the Plans. The following table summarizes the pre-tax distribution of charges under these restructuring plans by income statement classification: November 29, 2025 November 30, 2024 December 2, 2023 Cost of sales $ 9,511 $ 12,263 $ 15,012 Selling, general and administrative 7,358 9,823 9,575 $ 16,869 $ 22,086 $ 24,587 The restructuring charges are all recorded in Corporate Unallocated for segment reporting purposes. A summary of the restructuring liability is presented below: Employee- Related Asset-Related Other Total Balance at December 2, 2023 $ 11,723 $ - $ - $ 11,723 Expense incurred 13,477 4,673 3,936 22,086 Non-cash charges - (4,673 ) (3,925 ) (8,598 ) Cash payments (16,427 ) - (11 ) (16,438 ) Foreign currency translation (343 ) - - (343 ) Balance at November …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Note 15: Segments We are required to report segment information in the same way that we internally organize our business for assessing performance and making decisions regarding allocation of resources. Revenue and Adjusted EBITDA of each of our segments are regularly reviewed by our chief executive officer, who acts as our chief operating decision maker, to make decisions about resources to be allocated to the segments and assess their performance. Adjusted EBITDA is defined as net income before interest, income taxes, depreciation and amortization and foreign currency gain/loss, adjusted for other items within a relevant period which are not reflective of the segments operating performance in the period. Corporate expenses, other than those included in Corporate Unallocated, are allocated to each operating segment. Consistent with our internal management reporting, Corporate Unallocated includes and Adjusted EBITDA excludes amounts related to business acquisition and integration costs, organizational restructuring charges and project costs associated with our implementation of Project ONE. Corporate assets are not allocated to the operating segments. Inter-segment revenues are recorded at cost plus a markup for administrative costs. As of November 30, 2024, our three operating segments consisted of Hygiene, Health and Consumable Adhesives, Engineering Adhesives and Construction Adhesives. As of the beginning of fiscal 2025, we reorganized our operating segments by selling o …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Note 8: Stockholders' Equity Preferred Stock The Board of Directors is authorized to issue up to 10,045,900 shares of preferred stock that may be issued in one or more series and with such stated value and terms as the Board of Directors may determine. Common Stock There were 160,000,000 shares of common stock with a par value of $1.00 authorized and 54,174,963 and 54,657,103 shares issued and outstanding at November 29, 2025 and November 30, 2024 , respectively. On April 22, 2022, the Board of Directors authorized a share repurchase program of up to $300,000 of our outstanding common shares for a period of up to five years. Under the program, we are authorized to repurchase shares for cash on the open market, from time to time, in privately negotiated transactions or block transactions, or through an accelerated repurchase agreement. The timing of such repurchases is dependent on price, market conditions and applicable regulatory requirements. Upon repurchase of the shares, we reduce our common stock for the par value of the shares with the excess being applied against additional paid-in capital. We repurchased shares under this program with an aggregate value of $56,930 during 2025 and $31,811 during 2024 . We did not repurchase any shares during 2023 under our share repurchase program. Up to $211,000 of our outstanding common shares may still be repurchased under the current share repurchase program. Common Shares Outstanding 2025 2024 2023 Beginning balance 54,657,103 54, …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Note 12: Commitments and Contingencies Environmental Matters We are involved in environmental investigations, clean-up activities and administrative proceedings related to environmental compliance matters at former and current operating facilities. We have also been identified as a potentially responsible party (PRP) under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) and/or similar state laws that impose liability for costs relating to the clean-up of contamination resulting from past spills, disposal or other release of hazardous substances associated with landfills and/or hazardous waste sites. As a PRP, we may be required to pay a share of the costs of investigation and clean-up of these sites. We are subject to similar laws in some of the countries where current and former facilities are located. Our environmental, health and safety department monitors compliance with applicable laws on a global basis. To the extent we can reasonably estimate the amount of our probable liabilities for environmental matters, we establish an undiscounted financial provision. We recorded liabilities of $5,183 and $2,625 as of May 30, 2026 and November 29, 2025 , respectively, for probable and reasonably estimable environmental remediation costs. While uncertainties exist with respect to the amounts and timing of the ultimate environmental liabilities, based on currently available information, we have concluded that these matters, individually or in the ag …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Three Months Ended May 30, 2026 Hygiene, Health Building and Consumable Engineering Adhesive Segment Adhesives Adhesives Solutions Total Americas $ 226,877 $ 122,710 $ 133,082 $ 482,669 EIMEA 132,821 70,907 92,333 296,061 Asia Pacific 62,163 89,622 19,756 171,541 Total $ 421,861 $ 283,239 $ 245,171 $ 950,271 Three Months Ended May 31, 2025 Hygiene, Health Building and Consumable Engineering Adhesive Segment Adhesives Adhesives Solutions Total Americas $ 228,018 $ 119,161 $ 126,461 $ 473,640 EIMEA 118,238 61,553 82,073 261,864 Asia Pacific 51,219 95,704 15,668 162,591 Total $ 397,475 $ 276,418 $ 224,202 $ 898,095 Six Months Ended May 30, 2026 Hygiene, Health Building and Consumable Engineering Adhesive Segment Adhesives Adhesives Solutions Total Americas $ 416,020 $ 227,869 $ 226,779 $ 870,668 EIMEA 237,176 125,299 166,526 529,001 Asia Pacific 115,192 172,520 33,734 321,446 Total $ 768,388 $ 525,688 $ 427,039 $ 1,721,115 Six Months Ended May 31, 2025 Hygiene, Health Building and Consumable Engineering Adhesive Segment Adhesives Adhesives Solutions Total Americas $ 435,372 $ 216,370 $ 222,161 $ 873,903 EIMEA 229,005 111,816 157,236 498,057 Asia Pacific 101,323 184,991 28,484 314,798 Total $ 765,700 $ 513,177 $ 407,881 $ 1,686,758

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Note 11: Fair Value Measurements Overview Estimates of fair value for financial assets and liabilities are based on the framework established in the accounting guidance for fair value measurements. The framework defines fair value, provides guidance for measuring fair value and requires certain disclosures. The framework discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The framework utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs that reflect managements assumptions, and include situations where there is little, if any, market activity for the asset or liability. Balances Measured at Fair Value on a Recurring Basis The following table presents information about our financial assets and liabilities tha …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Note 5: Goodwill and Other Intangible Assets The goodwill activity by reportable segment for the six months ended May 30, 2026 is presented below: Hygiene, Health Building and Consumable Engineering Adhesive Adhesives Adhesives Solutions Total Balance at November 29, 2025 $ 517,763 $ 610,107 $ 552,189 $ 1,680,059 Acquisitions 1,048 (614 ) - 434 Foreign currency translation effect 8,357 (1,196 ) 5,827 12,988 Balance at May 30, 2026 $ 527,168 $ 608,297 $ 558,016 $ 1,693,481 Balances of amortizable identifiable intangible assets, excluding goodwill and other non-amortizable intangible assets, are as follows: May 30, 2026 Purchased Technology Customer Amortizable Intangible Assets and Patents Relationships Trade Names Total Original cost $ 233,459 $ 965,437 $ 81,406 $ 1,280,302 Accumulated amortization (66,319 ) (409,827 ) (37,530 ) (513,676 ) Net identifiable intangibles $ 167,140 $ 555,610 $ 43,876 $ 766,626 November 29, 2025 Purchased Technology Customer Amortizable Intangible Assets and Patents Relationships Trade Names Total Original cost $ 232,522 $ 998,889 $ 81,228 $ 1,312,639 Impairment - - (734 ) (734 ) Accumulated amortization (57,778 ) (414,706 ) (33,554 ) (506,038 ) Net identifiable intangibles $ 174,744 $ 584,183 $ 46,940 $ 805,867 Amortization expense with respect to amortizable intangible assets was $21,635 and $21,563 for the three months ended May 30, 2026 and May 31, 2025 , respectively, and was $43,646 and $42,443 for the six months ended May 30, 2026 and May 3 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Note 8: Income Taxes Income tax expense for the three and six months ended May 30, 2026 includes $356 of discrete tax expense and $454 of discrete tax expense, respectively, relating to various U.S. and foreign tax matters. Excluding the discrete tax expense, the overall effective tax rate was 27.4 percent and 27.2 percent for the three and six months ended May 30, 2026 , respectively. Income tax expense for the three and six months ended May 31, 2025 includes $13,961 of discrete tax expense and $14,952 of discrete tax expense, respectively, relating to the impact of withholding tax recorded on earnings that are no longer permanently reinvested as well as other various U.S. and foreign tax matters. Excluding the discrete tax expense, the overall effective tax rate was 25.7 percent and 25.8 percent for the three and six months ended May 31, 2025 , respectively. As of May 30, 2026 , we had a liability of $8,445 recorded for gross unrecognized tax benefits (excluding interest) compared to $9,206 as of November 29, 2025 . As of May 30, 2026 and November 29, 2025 , we had accrued $1,890 and $2,158 of gross interest relating to unrecognized tax benefits, respectively.

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"New Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (""FASB"") issued Accounting Standards Update (""ASU"") No. 2024 - 03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220 - 40 ): Disaggregation of Income Statement Expenses , which requires additional disclosure of the nature of expenses included in our Consolidated Financial Statements. Our effective date of this ASU is our fiscal year ending December 2, 2028. We are currently evaluating the impact of adopting this guidance on the related financial statement disclosures. In December 2023, the FASB issued ASU No. 2023 - 09, Income Taxes (Topic 740 ): Improvements to Income Tax Disclosures . This ASU requires entities to provide additional information in the rate reconciliation and additional disclosures about income taxes paid. This guidance requires public entities to disclose in their rate reconciliation table additional categories of information about federal, state, and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. Our effective date of this ASU is our fiscal year ending November 28, 2026. We are currently evaluating the impact of adopting this guidance on the related financial statement disclosures. Recently issued accounting standards or pronouncements not disclosed above have been excluded as they are not relevant to the company."

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Note 6: Components of Net Periodic Benefit related to Pension and Other Postretirement Benefit Plans Three Months Ended May 30, 2026 and May 31, 2025 Other Pension Benefits Postretirement U.S. Plans Non-U.S. Plans Benefits Net periodic (benefit) cost: 2026 2025 2026 2025 2026 2025 Service cost $ - $ - $ 322 $ 385 $ - $ - Interest cost 3,097 3,242 1,657 1,495 218 249 Expected return on assets (5,782 ) (5,717 ) (1,831 ) (1,685 ) (3,801 ) (3,484 ) Amortization: Prior service cost - - 30 29 - - Actuarial loss (gain) 1,895 1,953 482 490 (2,429 ) (2,277 ) Net periodic (benefit) cost $ (790 ) $ (522 ) $ 660 $ 714 $ (6,012 ) $ (5,512 ) Six Months Ended May 30, 2026 and May 31, 2025 Other Pension Benefits Postretirement U.S. Plans Non-U.S. Plans Benefits Net periodic (benefit) cost: 2026 2025 2026 2025 2026 2025 Service cost $ - $ - $ 645 $ 753 $ - $ - Interest cost 6,195 6,484 3,321 2,937 437 498 Expected return on assets (11,565 ) (11,434 ) (3,669 ) (3,309 ) (7,603 ) (6,968 ) Amortization: Prior service cost - - 61 56 - - Actuarial loss (gain) 3,789 3,906 966 965 (4,858 ) (4,554 ) Settlement charge - - 123 - - - Net periodic (benefit) cost $ (1,581 ) $ (1,044 ) $ 1,447 $ 1,402 $ (12,024 ) $ (11,024 ) Service cost is included with employee compensation cost in cost of sales and selling, general and administrative expenses in the Consolidated Statements of Income. The components of our net periodic defined benefit pension and postretirement benefit costs other than service cost are pr …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

"Note 3: Restructuring Actions Restructuring Plans During fiscal year 2023, the Company approved restructuring plans (the ""Plans"") related to organizational changes and other actions to optimize operations and integrate acquired businesses. The Plans were implemented in the second quarter of fiscal year 2023 and are expected to be completed during fiscal year 2026. In implementing the Plans, the Company currently expects to incur pre-tax costs of approxim ately $85,000 to $90,000 for s everance and related employee costs globally, and other restructuring costs related to the streamlining of processes and the payment of anticipated income taxes in certain jurisdictions related to the Plans. The following table summarizes the pre-tax distribution of charges under these restructuring plans by income statement classification: Three Months Ended Six Months Ended May 30, 2026 May 31, 2025 May 30, 2026 May 31, 2025 Cost of sales $ 364 $ (19 ) $ 1,984 $ 2,935 Selling, general and administrative 90 2,195 465 2,752 Other expense, net 120 - 1,316 - $ 574 $ 2,176 $ 3,765 $ 5,687 The restructuring charges are recorded in Corporate Unallocated for segment reporting purposes. A summary of the other restructuring liability is presented below: Employee-Related Asset-Related Other Total Balance at November 30, 2024 $ 8,430 $ - $ - $ 8,430 Expenses incurred 9,390 (547 ) 3,102 11,945 Non-cash charges - 547 (580 ) (33 ) Cash payments (14,143 ) - (2,522 ) (16,665 ) Foreign currency translation 3 …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

"Note 14: Segments Our three reportable operating segments consist of Hygiene, Health and Consumable Adhesives, Engineering Adhesives and Building Adhesive Solutions. We are required to report segment information in the same way that we internally organize our business for assessing performance and making decisions regarding allocation of resources. Revenue and Adjusted EBITDA of each of our segments are regularly reviewed by our chief executive officer, who acts as our chief operating decision maker, to make decisions about resources to be allocated to the segments and assess their performance. Adjusted EBITDA is defined as net income before interest, income taxes, depreciation and amortization and foreign currency gain/loss, adjusted for other items within a relevant period which are not reflective of the segments operating performance in the period. Corporate expenses, other than those included in Corporate Unallocated, are allocated to each operating segment. Consistent with our internal management reporting, Corporate Unallocated includes and Adjusted EBITDA excludes amounts related to business acquisition and integration costs, organizational restructuring charges and project costs associated with our implementation of a global Enterprise Resource Planning (""ERP"") system that we refer to as Project ONE. Corporate assets are not allocated to the operating segments. See below for a reconciliation of Adjusted EBITDA to net income attributable H.B. Fuller as reflected in …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Note 13: Share Repurchase Program On April 22, 2022, the Board of Directors authorized a share repurchase program of up to $300,000 of our outstanding common shares for a period of up to five years. Under the program, we are authorized to repurchase shares for cash on the open market, from time to time, in privately negotiated transactions or block transactions, or through an accelerated repurchase agreement. The timing of such repurchases is dependent on price, market conditions and applicable regulatory requirements. Upon repurchasing shares, we reduce our common stock for the par value of the shares with the excess being applied against additional paid-in capital. During the second quarter and six months ended May 30, 2026 , we repurchased shares under this program with an aggregate value of $45,579 . Of this amount, $750 reduced common stock and $44,829 reduced additional paid-in capital. During the second quarter of 2025 , we repurchased shares under this program with an aggregate value of $15,777 . Of this amount, $300 reduced common stock and $15,477 reduced additional paid-in capital. During the six months ended May 31, 2025 , we repurchased shares under this program with an aggregate value of $56,930 . Of this amount, $978 reduced common stock and $55,953 reduced additional paid-in capital.

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Note 15: Subsequent Event On June 25, 2026, the Company issued an announcement pursuant to Rule 2.7 of the UK City Code on Takeovers and Mergers, disclosing that the board of directors of the Company and the board of directors of Advanced Medical Solutions Group plc (AMS) had reached agreement on the terms of a recommended final cash offer by the Company for the entire issued and to be issued share capital of AMS. The acquisition price values the entire issued and to be issued ordinary share capital of AMS at approximately 659,000 British pounds ( 285 pence per share) and implies an enterprise value of approximately 715,000 British pounds. The transaction is expected to close by the end of the calendar year, subject to certain regulatory approvals, AMS shareholder approval and other customary closing conditions. In connection with the Companys acquisition of AMS, the Company entered into (i) a Term Loan and Revolving Facility Secured Bridge Credit Agreement (the Secured Bridge Credit Agreement) and (ii) a Term Loan Unsecured Bridge Credit Agreement (the Unsecured Bridge Credit Agreement and, together with the Secured Bridge Credit Agreement, the Bridge Credit Agreements) on June 25, 2026 to provide the Company certain borrowings in an aggregate amount of up to $3.0 billion. To the extent any borrowings are made under the Bridge Credit Agreements, such loans will mature 364 days after the closing date of the AMS acquisition. To the extent any borrowings are made under the Secu …

SubsequentEventsTextBlock · excerpt; the full note is in the filing