Resideo completes spin-off of ADI Global Distribution; repays $900M debt

RESIDEO TECHNOLOGIES, INC.

Distribution of 1 ADI share for every 2 Resideo shares; ADI begins trading under 'ADIG' on NYSE.
Resideo repaid $900M of Term Loan B debt; expects additional ~$200M repayment by Q3 2026.
Preferred stock reduced by 150,000 shares to 350,000 shares; conversion price adjusted to $18.844.
Thomas Surran becomes President & CEO; Jay Geldmacher transitions to executive advisor.
CD&R lock-up extended to August 3, 2028; exchange of ADI preferred for Resideo preferred completed.

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