TransUnion 10-Q filed Oct 27, 2026

Modified · Macroeconomic and Industry Trends

In February 2026, the United States and Israel launched coordinated military strikes against Iran, which retaliated with missile attacks across the region. Although we do not have material operations in the Middle East, the ongoing conflict with Iran has had, and is likely to may continue to have, an unpredictable impact on global energy prices, inflation, consumer spending, market volatility, and overall macroeconomicbroader economic conditions. The ongoing uncertainty about Inflation in the conflict will continue to impact these effects in an unpredictable wayU.S. These factors form part of the broader macroeconomic environment in which inflation has remained above the U.S. Federal Reserve’s (the “Fed”) long-term target, prompting the Fed to maintainraise the federal funds rate during the first six months of 2026 after cutting rates by 7525 basis points in the last four months of 2025. The September 2026. This marked the first federal funds rate remains elevated, relative to levels during the first half ofincrease following six rate cuts between September 2024 and December 2025 and to historical norms over the past 15 years, and is expected to totaling 175 basis points. The federal funds rate may remain elevated given macroeconomic concerns arising from conflict in the Middle Eastor even increase due to elevated inflation or other factors. Higher interest rates have slowed demand for consumer and auto loans, and have had a The 10-year Treasury rate is at its highest level since 2002. Higher rates more pronouncedsignificantly impact on the housing sectormortgage rates, where higher borrowing rates impact home which affect housing affordability, driving down purchase activity, home purchases and demand for mortgage loan refinancing activity. However, We expect 30-year mortgage rates are not directly tied to the federal funds rate but instead are tied to remain elevated and constrain housing activity for the 10-year Treasury rateforeseeable future. During the first two months of the year, the 10-year treasury rate declined modestly, before rising over the remainder of the six-month period, reflecting general macroeconomic concerns stemming from the ongoing conflict in the Middle East. As a result, 30-year mortgage Higher rates remained elevated at June 30, 2026, which continues to suppress activity in the housing sectorcan also reduce demand for consumer and auto loans.