Resideo Technologies Completes Spin-Off of ADI Global Distribution

About this update from Resideo Technologies, Inc.

Positioned To Accelerate Profitable Growth and Innovation as a Pure-Play Building Technologies Company Repaid $900 Million of Indebtedness and Preferred Stock Reduced to 350,000 Shares OutstandingADI Begins Trading Today on the New York Stock Exchange Under Ticker "ADIG"SCOTTSDALE, Ariz., Aug. 4, 2026 /PRNewswire/ -- Resideo Technologies, Inc. (NYSE: REZI) ("Resideo"), a leading global developer and manufacturer of critical control and sensing solutions for residential end markets, today announced the completion of its spin-off of ADI Global Distribution Inc. ("ADI"), establishing Resideo as a pure-play building technologies company. Resideo will continue to trade on the New York Stock Exchange under the ticker symbol "REZI" and ADI's common stock will begin "regular-way" trading today on the New York Stock Exchange under the ticker symbol "ADIG"."With trusted and iconic brands, deep relationships with pros and a 140-year heritage of innovation, Resideo is poised to start this next chapter as a pure-play building technologies company," said Tom Surran, President and Chief Executive Officer of Resideo. "With dedicated strategic, operational and financial focus, we are ready to capture the profitable growth opportunities ahead and drive above market growth and sustained margin expansion."The spin-off was completed through the distribution of all of the issued and outstanding shares of ADI common stock to Resideo common shareholders on the basis of one share of ADI common stock for every two shares of Resideo common stock held of record as of the close of business on July 20, 2026. Resideo shareholders of record will also receive cash in lieu of any fractional shares to which they would otherwise be entitled.In connection with the spin-off, Resideo repaid $900 million of outstanding principal under its Term Loan B credit facility. Resideo expects to make a further repayment of approximately $200 million under its Term Loan B credit facility following the completion of the post-closing cash adjustment under the separation agreement with ADI. Resideo expects to make this repayment by the end of the third fiscal quarter. Additionally, the outstanding Resideo Series A Cumulative Convertible Participating Preferred Stock was reduced by 150,000 shares in connection with the completion of the spin-off, leaving 350,000 shares outstanding, with a proportional adjustm...

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