ADOBE INC. (ADBE) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that ADOBE INC. surfaced in its latest filing.

• EU AI Act obligations are being phased in through 2030, and some of our operations are subject to it.2030
• We terminated a previously announced acquisition due to difficulties in obtaining regulatory approvals, incurring additional costs.
• As of November 28, 2025, $6.15 billion in senior unsecured notes outstanding.November 28, 2025
• $3 billion commercial paper program established, with no amounts outstanding.
• $1.5 billion senior unsecured revolving credit agreement, undrawn.
• The SEC’s Rules on Cybersecurity Risk Management require disclosures related to material cybersecurity incidents.
• We may be subject to certain aspects of the EU’s Digital Services Act.
• Some of our customers are subject to the EU’s Digital Operational Resilience Act.
• We may be subject to certain aspects of the EU’s Data Act requiring data portability and regulating non-personal data transfers.
• The U.S. Department of Justice rule on Preventing Access to U.S. Sensitive Personal Data and Government-Related Data by Countries of Concern places additional restrictions on certain data transactions.
• We are subject to data protection laws such as China's Personal Information Protection Law, Korea's Personal Information Protection Act, India's developing privacy laws, and U.S. state laws including the California Consumer Privacy Act, California Privacy Rights Act, Colorado Privacy Act, and Virginia Consumer Data Protection Act.
• European data transfers outside the EEA rely on mechanisms such as Standard Contractual Clauses and the EU-US Data Privacy Framework, which are subject to legal challenge and CJEU decisions.