16.  Legal Proceedings:

The Company has been named as a third-party defendant in an action captioned Board of Managers of the 432 Park Condominium, et al. v. 56th and Park (NY) Owner LLC, et al. (the “Original Action”).

The Original Action was filed on or about September 23, 2021. In the Original Action, the Board of Managers of 432 Park Condominium (the “Owner”), a condominium association for a high-rise condominium building (the “Building”) located at 432 Park Avenue in New York, N.Y., asserts a claim against the condominium sponsor, 56th and Park (NY) Owner LLC (the “Sponsor”) for damages arising from construction and design defects to the residential and commercial units at the Building.

The Sponsor subsequently filed a third-party complaint against LendLease Construction (US) LMB (“LendLease”) and other parties involved in the Building’s design. As to LendLease, the third-party complaint alleges breach of a construction management contract between LendLease and the Sponsor and negligence arising from purported failure to perform under the contract, and seeks indemnification against any damages asserted against the Sponsor by the Owner.

LendLease subsequently initiated a third-party complaint seeking indemnification from entities with whom LendLease had contracted for the supply of materials and services in connection with construction of the Building. The third-party complaint also names the Company as a third-party defendant based upon a contract between the Company and LendLease to supply 16 Viscous Damping Devices that were incorporated into a Tuned Mass Damper system designed by a third party to limit accelerations of the Building during wind events. The Company has timely filed and served an answer denying the allegations in LendLease’s third- party complaint.

On June 15, 2026, the Owner filed an amended third-party complaint asserting claims for fraud against the Sponsor arising from construction of the façade at the Building (the “Fraud Action”). The Sponsor subsequently filed a third-party complaint against

LendLease for contribution and indemnity relating to the Fraud Action, and LendLease subsequently initiated a third-party complaint against multiple parties, including the Company, relating to the Fraud Action. The Company believes it had no involvement in the façade work performed at the Building. After the Company and other third-party defendants objected to their being named defendants in LendLease’s third-party complaint relating to the Fraud Action, LendLease agreed to discontinue, without prejudice and pursuant to a proposed stipulation, its third-party claims against the Company and other third-party defendants, but only to the extent those claims relate to the Fraud Action. The Company does not expect to participate in discovery proceedings relating to the Fraud Action. However, the proposed stipulation has not yet been agreed to by all parties, and thus the Company has timely filed and served an answer denying the allegations in LendLease’s third-party complaint relating to the Fraud Action.

The Original Action and the Fraud Action, and all of the related third-party actions thereto, are pending in the Commercial Division of the Supreme Court, New York County.

Discovery relating to the Original Action is substantially complete. Discovery relating to the Fraud Action remains ongoing and is expected to conclude on or about February 26, 2027.

At present, the Company is unable to determine the likelihood of an unfavorable outcome or to quantify a potential loss.