Goodyear pro forma Q1 2025 net loss $65M post-OTR sale; calls $400M notes

GOODYEAR TIRE & RUBBER CO /OH/

Called for redemption $400M of 5% Senior Notes due 2026 on June 30, 2025 at par plus accrued interest.
Pro forma net loss (Goodyear) of $65M for Q1 2025 vs reported net income of $115M, reflecting OTR divestiture.
Pro forma net income for FY2024 is $64M vs reported $70M; OTR sale proceeds $905M used to retire debt.
Debt retired includes $500M 9.5% notes due 2025 and $366M revolver; interest expense reduced by $13M in Q1 pro forma.
Entered into product supply and trademark license agreements with Yokohama; $185M deferred revenue recognized over time.

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