RESIDEO TECHNOLOGIES, INC.

Resideo Technologies, Inc. terminated its Tax Matters Agreement with Honeywell International Inc., a legacy of its spin-off, requiring a one-time payment of $11.6 million. This agreement also includes a mutual release of claims related to the tax agreement and other separation-related tax liabilities. Additionally, a wholly-owned subsidiary, Resideo Funding Inc., merged into Resideo Funding II LLC, with the latter assuming all obligations for outstanding senior notes and the existing credit agreement.

Resideo Technologies, Inc. entered into a Second Amended and Restated Credit Agreement on June 4, 2026, providing up to approximately $2,827 million in senior secured financing. This agreement facilitates the previously disclosed spin-off of the Company's ADI Global Distribution segment. The financing includes existing term loan facilities totaling approximately $2,327 million and a new $500 million undrawn revolving credit facility. No new borrowings were made on the effective date, and the obligations are guaranteed by the Company and its U.S. subsidiaries, secured by first-priority interests in equity and assets.

Resideo Technologies reported a significant increase in net income and EPS for the first quarter of 2026, primarily driven by higher net revenue and the absence of Indemnification Agreement expense compared to the prior year. The company continues to progress with the planned tax-free spin-off of its ADI Global Distribution segment, incurring $24 million in business separation costs. Despite overall revenue growth, income from operations decreased, and net cash used in operating activities increased.

Resideo Technologies announced strong first quarter 2026 financial results, with net revenue reaching $1.91 billion, an 8% increase year-over-year and exceeding the high-end of their outlook. Net income significantly improved to $38 million from $6 million in Q1 2025, and Adjusted EBITDA grew 28% to $215 million. The company also reaffirmed its full-year 2026 outlook and provided guidance for the second quarter.

Resideo Technologies, Inc. announced the filing of its Form 10 registration statement for the planned spin-off of its ADI Global Distribution business, which is on track for completion between mid-third quarter and mid-fourth quarter of 2026. The company also named the leadership teams and Boards of Directors for both Resideo and the future independent ADI Global Distribution Inc. ADI reported approximately $4.8 billion in revenue and $318 million in Adjusted EBITDA for fiscal year 2025 on a carveout basis.