Food, Beverage & Consumer Goods: Variable interest entities (ASC 810)

We have a number of leasing arrangements and one licensing arrangement with VIEs for which we are not the primary beneficiary. Each one of these arrangements contain an RVG. As of December 31, 2025, we have not recorded any liabilities as it is not probable that we will have to make any payments required under the RVGs. Refer to Note 19 of the Notes to our Consolidated Financial Statements for further information.

Uncertainties and Trends Affecting Liquidity and Capital Resources

Disruptions in financial and credit markets, including those caused by inflation, global economic uncertainty or economic downturns, fluctuations in interest rates, or the imposition of new tariffs or changes to existing tariffs, trade wars, barriers or restrictions, or threats of such actions, and related uncertainty, may impact our ability to manage normal commercial relationships with our customers, suppliers, and creditors, and may also impact our ability to access liquidity through financial markets in a timely and cost-effective manner. These disruptions could have a negative impact on the ability of our customers to timely pay their obligations to us, thus reducing our cash flow, or the ability of our vendors to timely supply materials.

Customer and consumer demand for our products may also be impacted by the risk factors discussed under "Risk Factors" in Part 1, Item 1A in this Annual Report on Form 10-K, as well as subsequent filings with the SEC, that could have a material effect on production, delivery, and consumption of our products, which could result in a reduction in our sales volume.

We believe that the following events, trends, and uncertainties may also impact liquidity:

• Our ability to either repay existing debt maturities through cash flow from operations or refinance through future issuances of senior unsecured notes;

• Our ability to access and/or renew our committed financing arrangements ;

• Our ability to issue unsecured uncommitted commercial paper notes on a private placement basis;

• Financing and other funding arrangements entered into in connection to the JDE Peet's Acquisition;

• Future mergers, acquisitions, or debt or equity investments, which may include brand ownership companies, regional bottling companies, distributors, and/or distribution rights to further extend our geographic coverage;

• Seasonality and other variability in our operating cash flows, which could impact short-term liquidity;

• Our continued payment of regular quarterly dividends;