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CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This Annual Report on Form 10-K (“Annual Report”) contains certain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995 regarding business strategies, market
potential, future financial and operational performance and other matters. Words such as “anticipates,”
“estimates,” “expects,” “projects,” “forecasts,” “intends,” “plans,” “will,” “believes” and words and terms of
similar substance used in connection with any discussion of future operating or financial performance identify
forward-looking statements. These forward-looking statements are based on management’s current expectations
and beliefs about future events. As with any projection or forecast, they are inherently susceptible to uncertainty
and changes in circumstances. Except as required by law, we are under no obligation to, and expressly disclaim
any obligation to, update or alter any forward-looking statements whether as a result of such changes, new
information, subsequent events or otherwise.
Various factors could adversely affect our operations, business or financial results in the future and cause
our actual results to differ materially from those contained in the forward-looking statements, including those
factors discussed in detail in “Item 1A—Risk Factors.” In addition, we operate a web services company in a
highly competitive, rapidly changing and consumer- and technology-driven industry. This industry is affected by
government regulation, economic, strategic, political and social conditions, consumer response to new and
existing products and services, technological developments and, particularly in view of new technologies, the
continued ability to protect intellectual property rights. Our actual results could differ materially from
management’s expectations because of changes in such factors.
Achieving our business and financial objectives, including improved financial results and maintenance of a
strong balance sheet and liquidity position, could be adversely affected by the factors discussed or referenced in
“Item 1A—Risk Factors” as well as, among other things:
• changes in our plans, strategies and intentions;
• stock price volatility;
• future borrowing and restrictive covenants under our revolving credit facility;
• the impact of the convertible senior notes (the “Notes”) and the related hedge and warrant transactions;
• the impact of significant acquisitions, dispositions and other similar transactions;
• our ability to attract and retain key employees;
• any negative unintended consequences of cost reductions, restructuring actions or similar efforts,
including with respect to any associated savings, charges or other amounts;
• adoption of new products and services;
• our ability to attract and retain unique visitors to our properties;
• asset impairments; and
• the impact of “cyber attacks.”
References in this Annual Report to “we,” “us,” the “Company,” and “AOL” refer to AOL Inc., a Delaware
corporation.
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