VIAD CORP
8-K
20220301 266.98 kB 8
<span id="vvi-ex99_1.htm"></span><html lang="en-US"> <head> <title>Form 8-K filed by VIAD CORP on 2022-03-01</title> </head> <body> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="white-space:pre-wrap;font-size:12.0pt;font-family:Times New Roman;">&#160;</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.7249999999999999;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:11.0pt;font-family:Calibri;">Exhibit 99.1</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;">&#160;</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:13.0pt;font-family:Calibri;">DEREK P. LINDE PROMOTED TO CHIEF OPERATING OFFICER,</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:13.0pt;font-family:Calibri;">GENERAL COUNSEL &amp; CORPORATE SECRETARY OF VIAD CORP</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.7249999999999999;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:13.0pt;font-family:Calibri;"> </font>&#160;</p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.7249999999999999;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">SCOTTSDALE, March 1, 2022 - Viad Corp (NYSE:VVI), a leading global provider of extraordinary experiences, including hospitality and leisure activities, experiential marketing, and live events, today announced the promotion of Derek P. Linde to the expanded role of Chief Operating Officer, General Counsel &amp; Corporate Secretary of Viad effective March 1, 2022. In this expanded role, Mr. Linde will be integrally involved in accelerating Viad&#x2019;s enterprise-level strategy to deliver significant and sustainable EBITDA growth, and collaborating across the organization to drive progress on major initiatives that support the strategy.</font><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;"> </font></p> <p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;line-height:1.7249999999999999;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">Mr. Linde joined Viad as General Counsel and Corporate Secretary in April 2018, overseeing our global legal, governance and risk management functions. Since that time, his role has grown to include a variety of other enterprise support functions, including executive compensation, employee benefits and real estate.</font><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;"> </font></p> <p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;line-height:1.7249999999999999;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">Steve Moster, president and chief executive officer of Viad, said, &#x201c;This promotion recognizes Derek&#x2019;s many contributions as a valued leader within our organization and our commitment to accelerating growth. Derek has taken on increasing spans of responsibility since joining Viad four years ago and is a trusted thought leader committed to advancing our strategic direction. In his expanded role, Derek will partner closely with me to drive enterprise-level strategy and will collaborate closely with other leaders across our enterprise to support and shape important initiatives that will deliver significant and sustainable growth and above-market returns for our shareholders.&#x201d;</font></p> <p style="text-indent:6.667%;font-size:10.0pt;margin-top:0.0pt;line-height:1.7249999999999999;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">Prior to joining Viad, Mr. Linde served as Deputy General Counsel &amp; Assistant Secretary at Illinois Tool Works Inc., a diversified manufacturer of specialized industrial equipment, from 2014 to 2018. He holds a J.D. from the Vanderbilt University School of Law and a B.A. from the University of Missouri-Columbia.</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:11.0pt;font-family:Calibri;"><br></font><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:11.0pt;font-family:Calibri;">&#160;</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:12.0pt;font-family:Calibri;">About Viad</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">Viad (NYSE: VVI) is a leading global provider of extraordinary experiences, including hospitality and leisure activities, experiential marketing, and live events through two businesses: Pursuit and GES. Pursuit is a collection of inspiring and unforgettable travel experiences in Alaska, Montana,</font><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;"> </font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="white-space:pre-wrap;font-size:12.0pt;font-family:Times New Roman;">&#160;</font></p> <hr style="page-break-after:always;"> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="white-space:pre-wrap;font-size:12.0pt;font-family:Times New Roman;">&#160;</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">the Canadian Rockies, Vancouver, Reykjavik, and Las Vegas, as well as new experiences planned in Chicago and Toronto. Pursuit&#x2019;s collection includes attractions, lodges and hotels, and sightseeing tours that connect guests with iconic places. GES is a global, full-service live events company offering a comprehensive range of services to the world's leading brands and event organizers. Our business strategy focuses on delivering extraordinary experiences for our teams, clients and guests, and significant and sustainable growth and above-market returns for our shareholders. Viad is an S&amp;P SmallCap 600 company. For more information, visit </font><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;text-decoration:underline;font-size:12.0pt;font-family:Calibri;">www.viad.com</font><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">.</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:11.0pt;font-family:Calibri;"> </font>&#160;</p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:12.0pt;font-family:Calibri;">Contacts:</font><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:12.0pt;font-family:Calibri;"> </font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">Carrie Long or Michelle Porhola</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;font-style:italic;">Investor Relations</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">(602) 207-2681</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">ir@viad.com</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;"> </font>&#160;</p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:12.0pt;font-family:Calibri;">Forward-Looking Statements</font><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:12.0pt;font-family:Calibri;"> </font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">This press release contains a number of forward-looking statements. Words, and variations of words, such as &#x201c;will,&#x201d; &#x201c;may,&#x201d; &#x201c;expect,&#x201d; &#x201c;would,&#x201d; &#x201c;could,&#x201d; &#x201c;might,&#x201d; &#x201c;intend,&#x201d; &#x201c;plan,&#x201d; &#x201c;believe,&#x201d; &#x201c;estimate,&#x201d; &#x201c;anticipate,&#x201d; &#x201c;deliver,&#x201d; &#x201c;seek,&#x201d; &#x201c;aim,&#x201d; &#x201c;potential,&#x201d; &#x201c;target,&#x201d; &#x201c;outlook,&#x201d; and similar expressions are intended to identify our forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. These forward-looking statements are not historical facts and are subject to a host of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those in the forward-looking statements.</font><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;"> </font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;"> </font>&#160;</p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">Important factors that could cause actual results to differ materially from those described in our forward-looking statements include, but are not limited to, the following:</font></p> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">the impact of the COVID-19 pandemic on our financial condition, liquidity, and cash flow;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">our ability to anticipate and adjust for the impact of the COVID-19 pandemic on our businesses;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">general economic uncertainty in key global markets and a worsening of global economic conditions;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">travel industry disruptions;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">seasonality of our businesses;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">unanticipated delays and cost overruns of our capital projects, and our ability to achieve established financial and strategic goals for such projects;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">our exposure to labor shortages, turnover, and labor cost increases;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">the importance of key members of our account teams to our business relationships;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">the competitive nature of the industries in which we operate;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">our dependence on large exhibition event clients;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">adverse effects of show rotation on our periodic results and operating margins;</font></div></div> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="white-space:pre-wrap;font-size:12.0pt;font-family:Times New Roman;">&#160;</font></p> <hr style="page-break-after:always;"> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="white-space:pre-wrap;font-size:12.0pt;font-family:Times New Roman;">&#160;</font></p> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">transportation disruptions and increases in transportation costs;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">natural disasters, weather conditions, accidents, and other catastrophic events;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">our exposure to labor cost increases and work stoppages related to unionized employees;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">our multi-employer pension plan funding obligations;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">our ability to successfully integrate and achieve established financial and strategic goals from acquisitions;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">our exposure to cybersecurity attacks and threats; </font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">our exposure to currency exchange rate fluctuations;</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">liabilities relating to prior and discontinued operations; and</font></div></div> <div style="margin-left:4.528%;display:flex;margin-top:6.0pt;line-height:1.15;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Times New Roman;display:inline-flex;font-size:12.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">&#x2022;</font><div style="display:inline;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">compliance with laws governing the storage, collection, handling, and transfer of personal data and our exposure to legal claims and fines for data breaches or improper handling of such data.</font></div></div> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;"> </font>&#160;</p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><font style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:12.0pt;font-family:Calibri;">For a more complete discussion of the risks and uncertainties that may affect our business or financial results, please see Item 1A, &#x201c;Risk Factors,&#x201d; of our most recent annual report on Form 10-K filed with the SEC. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this press release except as required by applicable law or regulation.</font></p> <p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><font style="white-space:pre-wrap;font-size:12.0pt;font-family:Times New Roman;">&#160;</font></p> <hr style="page-break-after:always;"> </body> </html>