| Schedule of Master Trust Net Assets |
A summary of the Master Trust’s net assets and the Plans’ interest in the Master Trust balances as of December 31, 2025 and 2024, was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | | Harley-Davidson
SSP
(Plan No. 002) | | Harley-Davidson
WHSP
(Plan No. 005) | | | | Harley-Davidson
YSP
(Plan No. 008) | | Total Master Trust Balances | | Investments at fair value: | | | | | | | | | | | | Common collective trust funds | | $ | 825,459,464 | | | $ | 139,835,960 | | | | | $ | 82,427,774 | | | $ | 1,047,723,198 | | | Mutual funds | | 90,871,352 | | | 10,935,303 | | | | | 5,698,241 | | | 107,504,896 | | | Brokerage accounts | | 63,077,419 | | | 21,562,043 | | | | | 5,749,201 | | | 90,388,663 | | | Money market fund | | 36,120,482 | | | 13,700,681 | | | | | 4,879,850 | | | 54,701,013 | | | Harley-Davidson, Inc. Common Stock Fund | | 20,010,258 | | | 4,057,651 | | | | | 2,634,274 | | | 26,702,183 | | | Investment in Harley-Davidson Retirement Savings Master Trust | | $ | 1,035,538,975 | | | $ | 190,091,638 | | | | | $ | 101,389,340 | | | $ | 1,327,019,953 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | | Harley-Davidson
SSP
(Plan No. 002) | | Harley-Davidson
WHSP
(Plan No. 005) | | | | Harley-Davidson
YSP
(Plan No. 008) | | Total Master Trust Balances | | Investments at fair value: | | | | | | | | | | | | Common collective trust funds | | $ | 736,308,918 | | | $ | 129,415,376 | | | | | $ | 75,568,423 | | | $ | 941,292,717 | | | Mutual funds | | 91,985,417 | | | 11,921,899 | | | | | 6,162,095 | | | 110,069,411 | | | Brokerage accounts | | 56,367,323 | | | 18,126,246 | | | | | 4,906,899 | | | 79,400,468 | | | Money market fund | | 35,984,488 | | | 14,806,636 | | | | | 5,156,921 | | | 55,948,045 | | | Harley-Davidson, Inc. Common Stock Fund | | 31,135,147 | | | 6,809,717 | | | | | 4,258,238 | | | 42,203,102 | | | Investment in Harley-Davidson Retirement Savings Master Trust | | $ | 951,781,293 | | | $ | 181,079,874 | | | | | $ | 96,052,576 | | | $ | 1,228,913,743 | |
Investment income and losses have been allocated among the Plans based on the respective participants’ interest, adjusted for other income and losses. Investment income generated by the investments of the Master Trust for the years ended December 31, 2025 and 2024, was as follows: | | | | | | | | | | | | | | | | | 2025 | | 2024 | | Interest and dividend income | | $ | 13,761,195 | | | $ | 10,629,836 | | Net appreciation in fair value of investments | | 166,774,621 | | | 159,443,379 | | Investment income of the Master Trust | | 180,535,816 | | | 170,073,215 | | | | | | | | | | | |
The net assets of the Harley-Davidson, Inc. Common Stock Fund consisted of the following as of December 31, 2025 and 2024: | | | | | | | | | | | | | | | | | 2025 | | 2024 | | Harley-Davidson, Inc. common stock | | $ | 26,379,359 | | | $ | 41,686,813 | | | Money market fund | | 301,114 | | | 496,200 | | Other receivable | | 21,710 | | | 20,089 | | | Net assets of the Harley-Davidson, Inc. Common Stock Fund | | $ | 26,702,183 | | | $ | 42,203,102 | |
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