Recent Updates — REZI-WI

Resideo Technologies completed the separation of its ADI Global Distribution business into an independent publicly traded company, ADI Global Distribution Inc., effective August 3, 2026. The transaction was structured as a tax-free spin-off, with each Resideo shareholder receiving one share of ADI stock for every two shares held as of July 20, 2026. Pro forma financial statements indicate that ADI distributed $967 million in cash to Resideo, comprising a $900 million dividend and a $67 million adjustment, which will be used alongside existing cash to repay approximately $1.1 billion in Term Loan B facilities. The separation resulted in significant reductions to Resideo's pro forma assets, liabilities, and revenue base across all reported periods.