DFIN 2017 Annual Report

• the retention of existing, and continued attraction of additional clients and key employees; • the growth of new technologies with which we may be able to adequately compete; • our inability to maintain client referrals; • vulnerability to adverse events as a result of becoming a stand-alone company following the Separation from RRD, including the inability to obtain as favorable of terms from third-party vendors; • the competitive market for our products and industry fragmentation affecting our prices; • the ability to gain client acceptance of our new products and technologies; • delay in market acceptance of our products and services due to undetected errors or failures found in our products and services; • failure to maintain the confidentiality, integrity and availability of our systems, software and solutions; • failure to properly use and protect client and employee information and data; • the effect of a material breach of security or other performance issues of any of our or our vendors’ systems; • factors that affect client demand, including changes in economic conditions, national or international regulations and clients’ budgetary constraints; • our ability to access debt and the capital markets due to adverse credit market conditions; • the effect of increasing costs of providing healthcare and other benefits to our employees; • the impact of the U.S. Tax Cuts and Jobs Act (“Tax Act”); • changes in the availability or costs of key materials (such as ink and paper) or in prices received for the sale of by-products; • failure to protect our proprietary technology; • failure to successfully integrate acquired businesses into our business; • availability to maintain our brands and reputation; • the retention of existing, and continued attraction of, key employees, including management; • the effects of operating in international markets, including fluctuations in currency exchange rates; • the effect of economic and political conditions on a regional, national or international basis; • lack of market for our common stock; • lack of history as an operating company and costs associated with being an independent company; • failure to achieve certain intended benefits of the Separation; and • failure of RRD or LSC to satisfy their respective obligations under transition services agreements or other agreements entered into in connection with the Separation. Because forward-looking statements are subject to assumptions and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Undue reliance should not be placed on such statements, which speak only as of the date of this document or the date of any document that may be incorporated by reference into this document. Consequently, readers of the Annual Report on Form 10-K should consider these forward looking statements only as the Company’s current plans, estimates and beliefs. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. The Company undertakes no obligation to update or revise any forward-looking statements in this Annual Report on Form 10-K to reflect any new events or any change in conditions or circumstances. 9