Business Description

3 Item 1.A. Risk Factors. 11 Item 1.B. Unresolved Staff Comments. 19 Item 1.C. Cybersecurity 19 Item 2. Properties. 20 Item 3. Legal Proceedings. 20 Item 4. Mine Safety Disclosures. 21 Part II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 22 Item 6 [Reserved] 23 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations. 23 Item 7.A. Quantitative and Qualitative Disclosures about Market Risk. 39 Item 8. Financial Statements and Supplementary Data. 40 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures. 82 Item 9.A. Controls and Procedures. 82 Item 9.B. Other Information. 83 Item 9.C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 83 Part III Item 10. Directors, Executive Officers and Corporate Governance. 83 Item 11. Executive Compensation. 84 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 84 Item 13. Certain Relationships and Related Party Transactions, and Director Independence. 84 Item 14. Principal Accounting Fees and Services. 84 Part IV Item 15. Exhibits and Financial Statement Schedules. 85 Signatures. 88 2 Table of Contents PART I Item 1. Business General Overview Rollins, Inc. (“Rollins,” “we,” “us,” “our,” or the “Company”), is an international services company headquartered in Atlanta, Georgia. Through our family of leading brands, we provide essential pest and wildlife control services and protection against termite damage, rodents and insects to more than two million residential and commercial customers from more than 800 Company-owned and franchised locations in approximately 70 countries. Over the course of our lengthy operating history, we have garnered a reputation for providing great customer service. The contracted and recurring nature of our services provide us with visibility into a significant portion of our future revenue. In 1964, brothers O. Wayne and John Rollins acquired Orkin Exterminating Company and in 1965 we changed our name from Rollins Broadcasting, Inc to Rollins, Inc. In 1968, Rollins began trading on the New York Stock Exchange under the symbol “ROL.” Since then, we have grown into a premier global consumer and commercial services company with numerous industry leading brands including Aardwolf Pestkare, Clark Pest Control, Crane Pest Control, Critter Control, Fox Pest Control, HomeTeam Pest Defense, Industrial Fumigant Company, McCall Service, MissQuito, Northwest Exterminating, OPC Pest Services, Orkin, Orkin Australia, Orkin Canada, PermaTreat, Safeguard, Saela Pest Control, Trutech, Waltham Services, Western Pest Services, and more. Pest control generally consists of assessing a customer's property for conditions that invite pests, tackling current infestations, and stopping the life cycle to prevent future invaders. Termite protection programs include liquid treatments, wet and dry foam applications, termite baiting and wood treatments. We operate under one reportable segment which contains our three service offerings: • Residential : Pest control services protecting residential properties from common pests, including rodents, insects and wildlife; • Commercial : Workplace pest control solutions for customers across diverse end markets such as healthcare, food service, logistics; and • Termite and Ancillary : Termite protection services and ancillary services for both residential and commercial customers. Recurring services, which make up the majority of our business, include ongoing pest prevention treatment under a scheduled service agreement and relationships often extend over multi-year periods. Ancillary services include pest, rodent, and wildlife exclusion; crawlspace encapsulation and moisture remediation, and insulation, amongst other services, and represents an opportunity to increase our depth of relationship with our existing customers. One-time services typically consist of single-service treatment for specific pest issues such as bed bugs, wildlife removal, termite treatments, and infestations. As of December 31, 2025, approximately 75% of our business was recurring services, 10% was ancillary services, and 15% was one-time services. Risk factors associated with our business are discussed in Item 1.A.…