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Trimble Financial Reports of 2023 and 2024

Trimble, a leading technology company known for its innovative solutions in positioning and data analytics, has recently made significant announcements regarding its financial reporting. On January 16, 2025, the company stated that its independent auditor, Ernst & Young LLP (EY), has completed its detailed audit procedures concerning Trimble's financial performance for the year 2023.

Audit Confirmation

The audit by EY revealed that there are no alterations to Trimble's previously declared financial statements. This announcement is reassuring for investors and stakeholders who depend on the accuracy and reliability of Trimble's financial data. Phil Sawarynski, the CFO of Trimble, expressed satisfaction regarding the audit's findings, confirming that the organization's financial information is both accurate and aligns with previously released results for 2023, as well as the quarterly results for the first three quarters of 2024.

Filing of Amended Reports

As part of this process, Trimble has officially filed the amended Annual Report on Form 10-K for the fiscal year ending December 29, 2023, which was originally submitted to the SEC on February 26, 2024. Additionally, the company has filed its Quarterly Reports on Form 10-Q for the quarters ending March 29, June 28, and September 27, 2024. These filings underscore the importance of transparency and accountability in reporting financial performance.

Internal Control Strengthening

The amended Form 10-K also highlighted certain deficiencies in internal controls, particularly concerning general information technology measures and the accuracy of data exchanged between systems. Though identified as material weaknesses, Trimble is actively working on remediation strategies aimed at addressing these internal control issues.

The efforts to enhance these internal controls demonstrate Trimble's commitment to maintaining high operational standards and ensuring compliance with regulatory frameworks. Sawarynski acknowledged the entire Trimble team's support throughout the audit process, emphasizing the collective dedication to precise financial reporting.

Looking Ahead

In light of these developments, Trimble expects to regain compliance with the Nasdaq Listing Rule 5250(c)(1), which mandates listed companies to timely submit all required reports to the SEC. This is an important milestone for Trimble and its investors, as compliance with listing rules is crucial for maintaining market confidence and accessibility to capital markets.

Furthermore, the leadership at Trimble appears optimistic about the strategies they are implementing to not only correct current deficiencies but also to solidify their financial governance approach going forward. The overarching goal is to reinforce investor trust through consistent and transparent financial communication.

About Trimble

As a transformative force in the realms of construction, agriculture, and auxiliary industries, Trimble connects digital and physical worlds to elevate productivity, safety, and sustainability. With a commitment to innovation, Trimble's solutions continue to shape how people build, move, and live their daily lives.

For ongoing updates regarding financial results and corporate initiatives, stakeholders are encouraged to visit Trimble's official website.

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The content of this report contains forward-looking statements as defined under Section 21E of the Securities Exchange Act of 1934, including statements about timing and potential outcomes concerning compliance with Nasdaq listing rules. It’s essential for readers to consider the risks and uncertainties that may affect the eventual realization of these forward-looking statements.