Acushnet Company

Fairhaven, Massachusetts · Headquarters and golf ball R&D · 222,720 · Owned

North Dartmouth, Massachusetts · Golf ball manufacturing · 179,602 · Owned

New Bedford, Massachusetts · Golf ball manufacturing · 244,091 · Owned

Amphur Pluakdaeng Rayong, Thailand · Golf ball manufacturing · 230,003 · Owned

New Bedford, Massachusetts · Golf ball customization and distribution center · 438,007 · Owned

Fairhaven, Massachusetts · Golf ball packaging · 49,580 · Owned

New Bedford, Massachusetts · Golf ball advanced engineering and ball cavity manufacturing · 34,000 · Owned

Sugarland, Texas · Golf ball recycling and distribution center · 87,214 · Leased

Golf Clubs, Wedges and Putters

Carlsbad, California · Golf club assembly · 165,485 · Leased

Carlsbad, California · Tour testing and golf club R&D · 50,000 · Leased

Oceanside, California · Digital media studio · 40,515 · Leased

San Marcos, California · Putter research · 19,200 · Leased

Encinitas, California · Putter fitting and sales · 3,754 · Leased

Tokyo, Japan · Golf club assembly · 45,274 · Leased

FootJoy

Sriracha Chonburi, Thailand · Golf glove manufacturing · 112,847 · Building Owned/Land Leased

Sales Offices and Distribution Centers (used by multiple reportable segments)

Fairhaven, Massachusetts · East Coast customization and distribution center · 185,370 · Owned

Vista, California · West Coast distribution center and golf bag embroidery · 102,319 · Leased

Lakeville, Massachusetts · East Coast customization and distribution center · 555,395 · Leased

Cambridgeshire, United Kingdom · Sales office and distribution center, as well as golf club assembly and golf ball customization · 156,326 · Owned

Helmond, The Netherlands · Sales office and distribution center · 69,965 · Leased

Victoria, Australia · Sales office and distribution center, as well as golf club assembly · 37,027 · Leased

Ontario, Canada · Sales office and distribution center · 102,057 · Leased

Randburg, South Africa · Sales office and distribution center, as well as golf club assembly · 25,060 · Leased

Yongin-shi, Korea · Distribution center, golf ball customization and golf club assembly · 174,982 · Leased

Product Testing and Fitting Centers (Golf Balls and Golf Clubs)

Acushnet, Massachusetts · East Coast product testing and fitting for golf balls and golf clubs · 22 acres total, including multiple buildings that total 19,492 square feet · Owned

Oceanside, California · West Coast product testing and fitting for golf balls and golf clubs(Titleist Performance Institute) · 30 acres total, including multiple buildings that total 40,600 square feet · Owned

Tokyo, Japan · Golf club testing, sales and education (Titleist Performance Institute) · 33,491 · Leased

(1)Facility size represents square footage of the building, unless otherwise noted.

We have additional sales offices and facilities in Colorado, Utah, New Zealand, Malaysia, Singapore, Hong Kong, Taiwan, Japan, Korea, Thailand, Scotland, Sweden, France, Germany and Switzerland. In the opinion of our management, our properties are adequate and suitable for our business as presently conducted and are adequately maintained.

• Acushnet Netherlands Services B.V. Netherlands⁸
• Acushnet New Zealand Limited New Zealand⁸
• Acushnet Osterreich GmbH Austria⁸
• Acushnet Singapore Pte Ltd. Singapore⁸
• Acushnet South Africa (Pty.) Ltd. South Africa⁸
• Acushnet Sverige Aktiebolag Sweden⁸
• Acushnet Titleist (Thailand) Limited Thailand⁸
• Acushnet Vietnam Co. Ltd. Vietnam⁸
• Changsha Acushnet Sports Products Co. Ltd. China⁸
• KJUS Holdings Inc. Delaware⁸
• KJUS North America, Inc. Colorado⁸
• KJUS Retail Deutschland GmbH Germany⁸
• KJUS UK Limited United Kingdom⁸
• LK Deutschland GmbH Germany⁸
• LK International AG Switzerland⁸
• LK Oesterreich GmbH Austria⁸
• PG Golf LLC Delaware⁸
• Panthera Holdings Limited England⁸
• Webb Acquisition Co. Delaware⁸

• Many of our raw materials and product components are provided by a sole or limited number of third‑party suppliers and manufacturers, and the cost of our raw materials and product components could affect our operating results.
• A disruption in the operations of our suppliers could materially adversely affect our business, financial condition and results of operations.
• Our operations are conducted worldwide and our results of operations are subject to currency transaction and translation risks that could materially adversely affect our business, financial condition and results of operations.
• Failure to adequately enforce and protect our intellectual property rights could materially adversely affect our business, financial condition and results of operations.
• We may be involved in lawsuits to protect, defend or enforce our intellectual property rights, which could be expensive, time consuming and unsuccessful.
• Our products may infringe the intellectual property rights of others, which may cause us to incur unexpected costs or prevent us from selling our products.
• Changes to patent laws could adversely affect our ability to protect our intellectual property.
• We face intense competition in each of our markets and if we are unable to maintain a competitive advantage, loss of market share, sales or profitability may result.
• We may have limited opportunities for future growth in sales of certain of our products.
• A severe or prolonged economic downturn could adversely affect our customers’ financial conditions, levels of business activity and ability to pay their trade obligations.
• A decrease in corporate spending on our custom logo golf balls could materially adversely affect our business, financial condition and results of operations.
• We depend on retailers and distributors to market and sell our products, and our failure to maintain and further develop our sales channels could materially adversely affect our business, financial condition and results of operations.
• Consolidation of retailers or concentration of retail market share among a few retailers may increase and concentrate our credit risk, put pressure on our margins and impair our ability to sell products.
• Our business depends on strong brands, and if we are not able to maintain and enhance our brands, we may be unable to sell our products.
• Our business and results of operations are subject to seasonality and product launch cycles, which could result in fluctuations in our operating results and stock price.
• We have significant international operations and are exposed to risks associated with doing business globally.
• Failure to comply with applicable anti-bribery, anti-money laundering and economic sanctions laws could subject us to substantial penalties and other adverse consequences.
• Our business, financial condition and results of operations could be materially adversely affected if professional golfers do not endorse or use our products, or if the professional golfers using our products receive negative publicity.
• If we inaccurately forecast demand for our products, we may manufacture insufficient or excess quantities, which could materially adversely affect our business, financial condition and results of operations.
• We may experience a disruption in the service, or a significant increase in the cost, of our primary delivery and shipping services for our products and component parts or a significant disruption at shipping ports.
• If we are unable to successfully manage the implementation of our new Enterprise Resource Planning ("ERP") platform, our business and results of operations or the effectiveness of our internal controls over financial reporting may be adversely affected.
• We rely on complex information systems to manage our manufacturing, distribution, sales, finance, accounting and other functions. If our information systems fail to perform these functions adequately or if we experience an interruption in our operations, including a breach in cybersecurity, our business, financial condition and results of operations could be materially adversely affected.
• Cybersecurity risks could disrupt our operations and negatively impact our reputation.
• Artificial intelligence presents risks and challenges that can impact our business including by posing security risks to our confidential information, proprietary information, and personal data.
• Failure to comply with data privacy and security laws and regulations could adversely affect our operating results and business.
• If the technology‑based systems that give consumers the ability to shop with us online do not function effectively, our ability to grow our eCommerce business globally could be adversely affected.
• Goodwill and identifiable intangible assets represent a significant portion of our total assets and any impairment of these assets could negatively impact our results of operations and shareholders’ equity.
• Our current senior management team and other key employees are critical to our success and if we are unable to attract and/or retain key employees and hire qualified management, technical and manufacturing personnel, our ability to compete could be harmed.
• Sales of our products by unauthorized retailers or distributors could adversely affect our authorized distribution channels and harm our reputation.
• We may fail to grow our presence in existing international markets and expand into additional international markets.
• We are exposed to a number of different tax uncertainties, including potential changes in tax laws, unanticipated tax liabilities and limitations on utilization of tax attributes after any change of control, which could materially adversely affect our business, financial condition and results of operations.
• Our insurance policies may not provide adequate levels of coverage against all claims and we may incur losses that are not covered by our insurance.
• We are subject to product liability, warranty and recall claims, and our insurance may not cover such claims.
• We may be subject to litigation and other regulatory proceedings which may result in the expense of time and resources and could materially adversely affect our business, financial condition and results of operations.
• We are subject to environmental, health and safety laws and regulations, which could subject us to liabilities, increase our costs or restrict our operations in the future.
• We may require additional capital in the future, and such capital may not be available at all or available on terms acceptable to us and, if it is available, additional capital raised by us may dilute holders of our common stock.
• Our growth initiatives require significant capital investments and there can be no assurance that we will realize a positive return on these investments.
• Our business could be materially adversely affected as a result of the risks associated with acquisitions and investments.
• Terrorist activities and international political instability may decrease demand for our products and disrupt our business.
• Our business could be harmed by the occurrence of natural disasters or pandemic diseases.
• A high degree of leverage could adversely affect our ability to raise additional capital to fund our operations, limit our ability to react to changes in the economy or in our industry, expose us to interest rate risk to the extent of our variable rate debt, and prevent us from meeting our obligations under our indebtedness.
• Servicing our indebtedness requires a significant amount of cash. Our ability to generate sufficient cash depends on many factors, some of which are not within our control.
• We and our subsidiaries may be able to incur significant amounts of debt, which could exacerbate the risks associated with
• our current indebtedness.
• The credit agreement that governs our multi-currency revolving credit facility contains restrictions that limit our flexibility in operating our business.
• We may utilize derivative financial instruments to reduce our exposure to market risks from changes in interest rates on our variable rate indebtedness or alter our floating-to-fixed interest rate mix, and we may be exposed to risks related to counterparty credit worthiness or non‑performance of these instruments.
• The interests of Magnus and its affiliates and any of their successors or transferees may conflict with other holders of our common stock.
• We are a “controlled company” under NYSE rules and, as a result, we qualify for and may elect to rely upon exemptions from certain corporate governance requirements that would otherwise provide protection to our shareholders.
• Our share repurchase program could be suspended or terminated, may not enhance long-term stockholder value, and may increase the volatility of the price of our stock and diminish our cash reserves.
• We cannot assure you that we will pay dividends on our common stock, and our indebtedness and other factors could limit our ability to pay dividends on our common stock.
• You may be diluted by the future issuance of additional common stock in connection with our incentive plans, acquisitions or otherwise.
• Future equity sales, or the perception of future equity sales, by us or our existing shareholders in the public market could cause the market price for our common stock to decline.
• Anti‑takeover provisions in our organizational documents and Delaware law might discourage or delay acquisition attempts for us that you might consider favorable.
• General Risk Factors
• If our estimates or judgments relating to our critical accounting estimates prove to be incorrect, our financial condition and results of operations could be adversely affected.
• The market price of shares of our common stock may be volatile.
• If we are unable to maintain effective internal controls over financial reporting, we may not be able to produce timely and accurate financial statements, which could have a material adverse effect on our business and stock price.