Resideo Technologies, Inc. · NYSE:REZI
Resideo Technologies — Debt Investor Presentation (May 2026)
33 slides from Resideo Technologies's debt investor presentation, May 11, 2026
Slide 1: Company Presentation May 11, 2026
1 Company Presentation May 11, 2026
Slide 2: Disclaimer: Forward-Looking Statements
2 Disclaimer Forward-Looking Statements This presentation and the related conference call contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, and the "safe harbor" provisions under the P
Slide 3: Agenda
3 Agenda • Business & Industry Overview • Financial Overview • Appendix
Slide 4: Situation Overview
4 Situation Overview ⚫On July 30, 2025, Resideo ("REZI", or "RemainCo") announced a plan to spin off its ADI Global Distribution business ("ADI", the "Company", or "SpinCo") into an independent, U.S. publicly traded company ⚫The spin-off is currently planned for mid-Q3 to mid-Q4 2026, with REZI spin
Slide 5: Business and Industry Overview
5 Business and Industry Overview
Slide 6: Separation Overview
6 Separation Overview Commentary Structure ⚫Tax-free transaction for Resideo and current Resideo shareholders for U.S. federal income tax purposes ⚫SpinCo: ADI Global Distribution Inc. (NYSE:ADIG) ⚫RemainCo: Resideo Technologies, Inc. (NYSE:REZI) Timing ⚫On track for separation completion mid-Q3 to
Slide 7: ADI and Resideo will have better opportunities to deliver long-term growth
7 ADI and Resideo will have better opportunities to deliver long-term growth and value creation for shareholders Sharper focus Operational focus and dedicated management teams to win in their respective marketplaces Enhanced flexibility Increased operating and financial flexibility to pursue growth
Slide 8: Global specialty distributor of Security, Fire/Life Safety, AV and other low voltage products
8 • Global specialty distributor of Security, Fire/Life Safety, AV and other low voltage products • Trusted partner to security professionals for nearly 40 years, with a proven legacy of reliability and expertise • Robust offering of 500K+ products across industry-leading brands, complimented by val
Slide 9: Revenue and Adj. EBITDA growth history and acquisitions
9 $2.7B $2.8B $3.0B $3.4B $3.6B $3.6B $4.7B $4.8B 2018A 2019A 2020A 2021A 2022A 2023A 2024A 2025A Revenue: ~$2.7B ~$4.8B CAGR: ~9% Reported Adj. EBITDA: ~$164M3 ~$359M3 CAGR: ~12% 2021 Acquisition of Est. revenue4 $29M 2022 Acquisition of Est. revenue4 $53M 2022 Acquisition of Est. revenue4 $35M 202
Slide 10: To be a key partner of choice for our customers and suppliers
10 To be a KEY partner of choice for our customers and suppliers... Convenient, Digital-forward Omnichannel Buying Immediate Product Availability Operationally Essential Products, Support, & Services Knowledgeable Sales Staff ...As supported by our NPS SCORE OF 541 Source: Company management 1 Based
Slide 11: Distribution Value Chain and Business Model Built for the Pro
11 4. ADI provides value-added services including system and network design, device programming, remote monitoring, technical support Distribution Value Chain Commercial Manufacturers Distributors End Users Security Fire DataComm Healthcare Government Retail Education Corporate Technology Homeowners
Slide 12: ADI Provides Complete Solutions That Help Integrators Design, Install and Grow
12 EB 3P Americas (# of Stores) International (# of Stores) ADI Provides Complete Solutions That Help Integrators Design, Install and Grow Their Businesses 20+ Differentiated Services Distinctive services that simplify integrator speed and deepen customer loyalty ~30% ADI digital platform revenue Co
Slide 13: Focused on Delivering Value Built on World-Class Execution
13 Source: Company Management Be the distributor for innovation offering a deep assortment of industry leading products Be the best to shop with the leading omnichannel experience Be the leader across industry categories by expanding into ProAV and DataComm Be the partner who makes business easier w
Slide 14: Comprehensive Selection of Professionally Installed Low Voltage Products
14 Comprehensive Selection of Professionally Installed Low Voltage Products Security & Fire/Life Safety ~65% ~5% ~30% % FY'25 Revenue Data Communications Source: Company Management Audio-Visual (ResiAV + ProAV) Panels Sirens Contacts PIR Panels Communicators Smoke/CO2 Detectors Strobes, Pull Station
Slide 15: Fully Stocked with Top Brands Across Categories
15 Fully Stocked with Top Brands Across Categories 500K+ products across leading brands supporting the full low-voltage market opportunity Intrusion & Smart Home Video Surveillance Pro AV Fire / Life Safety Access Control & Communications Residential AV Data Communications Wire & Cable Networking
Slide 16: Seamless Omnichannel Experience for the Pros
16 Seamless Omnichannel Experience for the Pros Unified inventory of 500K+ products across e-comm, mobile and ~200 stores ADI Digital Platform sales represented 30% of Revenue in FY25 Product Breadth Stores offer same-day availability, last mile fulfillment, and real-time order tracking Seamless exe
Slide 17: Online Storefront and Mobile App Form the Cornerstone of Digital Experience
17 ADI's Online Storefront and Mobile App Form the Cornerstone of the Customer Digital Experience Relevance Persona-based and history-aware Smart Support Contextually relevant self- and assisted-service options Workflow Solutions Technology-enabled and expert-supported solutions Innovation Culture o
Slide 18: Differentiated Portfolio of Exclusive Brands
18 Differentiated Portfolio of Exclusive Brands Proprietary, high-margin solutions that support deepened customer loyalty and expand value-added capabilities Installer-Led Product Design Purpose-built solutions designed around installer workflows, system integration and increasing technology complex
Slide 19: Market Focus and Business Model
19 Market Focus and Business Model Large core markets with attractive growth opportunities in sustained-demand, integrated solution categories Core Markets Growth Opportunities Residential A/V Home automation, control, audio, displays, networking, and smart devices professionally installed in homes
Slide 20: Going After a Large and Attractive Market Opportunity in North America
20 Going After a Large and Attractive Market Opportunity in North America +MSD% Growth CAGR2 ~$65B TAI Source: Company management analysis and estimates. 1AV broken into two subcategories ResiAV and ProAV to show specific positioning. 2MSD = Middle single digit; industry growth estimated CAGR from 2
Slide 21: ADI's Competitive Landscape
21 Within Security & Fire/Life safety, ADI is the leading player in North America, with a strong foothold in residential and heavy commercial Within ResiAV, ADI is an industry leader and competes with many multiregional distributors Within ProAV, ADI is a leading player with growth opportunities in
Slide 22: Secular Trends Shaping the Security and AV Markets
22 Secular Trends Shaping the Security and AV Markets Cloud, AI and value-added services are driving a shift to higher margin, recurring revenue models • Transition from product resale to integrated solutions and cloud-based services • Growth of recurring revenue models • Increasing mix of software,
Slide 23: Key Credit Highlights
23 Key Credit Highlights 5 2 3 4 7 8 1 Preeminent Platform Position: We are a global specialty distributor of professionally installed low-voltage products servicing the commercial and residential markets through an omnichannel go-to-market platform Differentiated Value Proposition: Over 500K+ produ
Slide 24: Financial Overview
24 Financial Overview
Slide 25: Summary Historical Financials
25 Summary Historical Financials Like-for-Like Historical Financials Assuming Snap One was wholly owned since 2023 Combined Revenue ($M)1 Combined Adj. EBITDA ($M)2 Combined Adj. EBITDA – Combined CapEx ($M)4 Combined CapEx ($M)3 $3,750 $4,197 $4,784 $1,061 $461 $4,631 $4,658 $4,784 2023 2024 2025 A
Slide 26: Capital Allocation Strategy & Financial Policy
26 Capital Allocation Strategy & Financial Policy Leverage Capital Allocation Shareholder Distributions • Leverage target of ~3.0x total gross leverage and 2.0x total net leverage • Management is aligned in maintaining prudent leverage levels that provide bandwidth to weather economic cycles • Commi
Slide 27: Appendix
27 Appendix
Slide 28: Commentary on standalone costs
28 Commentary ⚫Operational Continuity: ADI enters the separation with a high degree of operational autonomy, utilizing dedicated, ring-fenced Sales and Marketing teams to minimize disruption to customer-facing activities ⚫IT & Infrastructure: 2025 completion of a global ERP implementation serves as
Slide 29: Organizational Chart
29 Organizational Chart Select Commentary ⚫RemainCo Borrower/Issuer: Resideo Funding II LLC ⚫SpinCo Borrower/Issuer: ADI Global Distribution Funding LLC which is an LLC that is disregarded for federal income tax purposes ⚫Each Company's secured Credit Facilities will be secured by substantially all
Slide 30: Non-GAAP Revenue Reconciliation
30 Non-GAAP Revenue Reconciliation Note: 1 Combined Revenue includes ADI Carveout Net Revenue for FY23, FY24 and FY25 per Form 10, and Snap One reported Net Sales for FY23 of $1,061mm, reported Net Sales for 1Q'24 of $246mm, and management's estimate for the 2Q'24 period where Resideo did not own Sn
Slide 31: Non-GAAP EBITDA Reconciliation
31 Non-GAAP EBITDA Reconciliation Reconciliation from Reported EBITDA per Q4 '25 ER to Standalone Adjusted EBITDA Note: 1 Pre-Acquisition Snap One Contribution includes Snap One reported Adjusted EBITDA for FY23 of $117mm, reported Adjusted EBITDA for 1Q'24 of $23mm, and management's estimate for th
Slide 32: Non-GAAP EBITDA Reconciliation
32 Non-GAAP EBITDA Reconciliation Reconciliation from Form 10 Net (Loss) Income to Adjusted EBITDA (per Q4 '25 ER) ($M) 2023 2024 2025 Net (loss) income 62 (18) (261) Income Taxes 50 25 11 Depreciation & Amortization 22 71 115 Interest Expense, net 14 24 42 Indemnification Expense Agreement 67 79 36
Slide 33: Non-GAAP Capex Reconciliation
33 Non-GAAP Capex Reconciliation Note: 1 Combined Capex includes ADI reported Capex for FY23, FY24 and FY25 per Form 10, and Snap One reported capex for FY23 of $23mm, reported capex for 1Q'24 of $2mm, and management's estimate for the 2Q'24 period where Resideo did not own Snap One of ~$1mm. The ac
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